Document:

exv10w1

Exhibit 10.1

 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

by and among

FOREST CITY RENTAL PROPERTIES CORPORATION

as Borrower

and

VARIOUS LENDING INSTITUTIONS

as Banks

and

KEYBANK NATIONAL ASSOCIATION

as Administrative Agent for the Banks

and

PNC BANK, NATIONAL ASSOCIATION

as Syndication Agent for the Banks

and

BANK OF AMERICA, N.A.

as Documentation Agent

Dated as of January 29, 2010

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	Article	 	 	 	 	 	Page	 
	ARTICLE I DEFINITIONS	 	 	1	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE II REVOLVING LOANS	 	 	20	 
	 
	 	 	 	 	 	 	 	 
	 
	 	SECTION 2.01.	 	AMOUNT OF THE REVOLVING LOAN FACILITY	 	 	21	 
	 
	 	SECTION 2.02.	 	REVOLVING LOAN COMMITMENTS	 	 	21	 
	 
	 	SECTION 2.03.	 	REVOLVING LOANS	 	 	22	 
	 
	 	SECTION 2.04.	 	PURPOSE OF THE REVOLVING LOANS	 	 	22	 
	 
	 	SECTION 2.05.	 	REVOLVING LOAN NOTES	 	 	22	 
	 
	 	SECTION 2.06.	 	REPAYMENT OF THE REVOLVING LOAN NOTES	 	 	22	 
	 
	 	SECTION 2.07.	 	SWING LOANS	 	 	23	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE III LETTERS OF CREDIT	 	 	25	 
	 
	 	 	 	 	 	 	 	 
	 
	 	SECTION 3.01.	 	LETTERS OF CREDIT	 	 	25	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE IV INTEREST ON THE REVOLVING LOANS	 	 	32	 
	 
	 	 	 	 	 	 	 	 
	 
	 	SECTION 4.01.	 	INTEREST OPTIONS; INDICATED SPREAD	 	 	32	 
	 
	 	SECTION 4.02.	 	INTEREST PERIODS	 	 	32	 
	 
	 	SECTION 4.03.	 	INTEREST PAYMENT DATES	 	 	33	 
	 
	 	SECTION 4.04.	 	INTEREST CALCULATIONS	 	 	33	 
	 
	 	SECTION 4.05.	 	POST-DEFAULT RATE	 	 	33	 
	 
	 	SECTION 4.06.	 	RESERVES OR DEPOSIT REQUIREMENTS, ETC	 	 	33	 
	 
	 	SECTION 4.07.	 	TAX LAW, ETC	 	 	34	 
	 
	 	SECTION 4.08.	 	INDEMNITY	 	 	36	 
	 
	 	SECTION 4.09.	 	EURODOLLAR DEPOSITS UNAVAILABLE OR	 	 	 	 
	 
	 	 	 	INTEREST RATE UNASCERTAINABLE	 	 	36	 
	 
	 	SECTION 4.10.	 	CHANGES IN LAW RENDERING LIBOR	 	 	 	 
	 
	 	 	 	LOANS UNLAWFUL	 	 	36	 
	 
	 	SECTION 4.11.	 	FUNDING	 	 	37	 
	 
	 	SECTION 4.12.	 	CAPITAL ADEQUACY	 	 	37	 
	 
	 	SECTION 4.13.	 	LIMITATIONS ON CLAIMS	 	 	37	 
	 
	 	SECTION 4.14.	 	NO SETOFF OR COUNTERCLAIM	 	 	38	 
	 
	 	SECTION 4.15.	 	CERTAIN PROVISIONS RELATING TO INCREASED	 	 	 	 
	 
	 	 	 	COSTS AND DELINQUENT BANKS OR	 	 	 	 
	 
	 	 	 	INSOLVENT/SEIZED BANKS	 	 	38	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE V AGREEMENTS AND CONDITIONS APPLICABLE TO ALL REVOLVING LOANS	 	 	39	 
	 
	 	 	 	 	 	 	 	 
	 
	 	SECTION 5.01.	 	NOTICE OF BORROWING	 	 	39	 
	 
	 	SECTION 5.02.	 	DISBURSEMENT OF FUNDS	 	 	40	 
	 
	 	SECTION 5.03.	 	CONDITIONS TO LOANS AND LETTERS OF CREDIT	 	 	40	 
	 
	 	SECTION 5.04.	 	PAYMENT ON NOTES, ETC	 	 	41	 
	 
	 	SECTION 5.05.	 	PREPAYMENT	 	 	42	 

(i) 

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 	 	 
	Article	 	 	 	 	 	Page	 
	 
	 	SECTION 5.06.	 	UNUSED COMMITMENT FEES	 	 	43	 
	 
	 	SECTION 5.07.	 	REDUCTION OF THE TOTAL REVOLVING LOAN COMMITMENTS	 	 	43	 
	 
	 	SECTION 5.08.	 	EXTENSION OF THE LOANS	 	 	44	 
	 
	 	SECTION 5.09.	 	COLLATERAL	 	 	44	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE VI CONDITIONS PRECEDENT	 	 	44	 
	 
	 	 	 	 	 	 	 	 
	 
	 	SECTION 6.01.	 	CORPORATE AND LOAN DOCUMENTS	 	 	44	 
	 
	 	SECTION 6.02.	 	OPINION OF COUNSEL FOR PARENT	 	 	46	 
	 
	 	SECTION 6.03.	 	JUDGMENT, ORDERS	 	 	46	 
	 
	 	SECTION 6.04.	 	LITIGATION	 	 	46	 
	 
	 	SECTION 6.05.	 	NOTICE OF BORROWING	 	 	46	 
	 
	 	SECTION 6.06.	 	OPINION OF COUNSEL FOR BORROWER	 	 	46	 
	 
	 	SECTION 6.07.	 	PAYMENT OF FEES	 	 	46	 
	 
	 	SECTION 6.08.	 	ADVERSE CHANGE, ETC	 	 	46	 
	 
	 	SECTION 6.09.	 	EVIDENCE OF INSURANCE	 	 	46	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE VII AFFIRMATIVE COVENANTS	 	 	47	 
	 
	 	 	 	 	 	 	 	 
	 
	 	SECTION 7.01.	 	PAYMENT OF AMOUNTS DUE	 	 	47	 
	 
	 	SECTION 7.02.	 	EXISTENCE, BUSINESS, ETC	 	 	47	 
	 
	 	SECTION 7.03.	 	MAINTENANCE OF PROPERTIES	 	 	47	 
	 
	 	SECTION 7.04.	 	PAYMENT OF TAXES, ETC	 	 	47	 
	 
	 	SECTION 7.05.	 	FINANCIAL STATEMENTS; ETC	 	 	47	 
	 
	 	SECTION 7.06.	 	INSPECTION	 	 	50	 
	 
	 	SECTION 7.07.	 	ENVIRONMENTAL COMPLIANCE	 	 	50	 
	 
	 	SECTION 7.08.	 	ERISA	 	 	51	 
	 
	 	SECTION 7.09.	 	INSURANCE	 	 	53	 
	 
	 	SECTION 7.10.	 	MONEY OBLIGATIONS	 	 	53	 
	 
	 	SECTION 7.11.	 	RECORDS	 	 	53	 
	 
	 	SECTION 7.12.	 	FRANCHISES	 	 	54	 
	 
	 	SECTION 7.13.	 	NOTICE	 	 	54	 
	 
	 	SECTION 7.14.	 	POST CLOSING ITEMS	 	 	54	 
	 
	 	SECTION 7.15.	 	FURTHER ASSURANCES; REPLACEMENT NOTES	 	 	54	 
	 
	 	SECTION 7.16.	 	NOTICE OF DEFAULT OR LITIGATION	 	 	55	 
	 
	 	SECTION 7.17.	 	USE OF PROCEEDS	 	 	55	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE VIII NEGATIVE COVENANTS	 	 	55	 
	 
	 	 	 	 	 	 	 	 
	 
	 	SECTION 8.01.	 	PLAN	 	 	55	 
	 
	 	SECTION 8.02.	 	COMBINATIONS	 	 	55	 
	 
	 	SECTION 8.03.	 	BULK TRANSFERS	 	 	55	 
	 
	 	SECTION 8.04.	 	BORROWINGS	 	 	56	 
	 
	 	SECTION 8.05.	 	LIENS	 	 	58	 

(ii) 

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 	 	 
	Article	 	 	 	 	 	Page	 
	 
	 	SECTION 8.06.	 	LOANS RECEIVABLE	 	 	59	 
	 
	 	SECTION 8.07.	 	GUARANTEES	 	 	60	 
	 
	 	SECTION 8.08.	 	AMENDMENT OF ARTICLES OF INCORPORATION	 	 	 	 
	 
	 	 	 	AND/OR REGULATIONS; AMENDMENT	 	 	 	 
	 
	 	 	 	OF SUBORDINATION AGREEMENTS	 	 	61	 
	 
	 	SECTION 8.09.	 	FISCAL YEAR	 	 	61	 
	 
	 	SECTION 8.10.	 	REGULATION U	 	 	61	 
	 
	 	SECTION 8.11.	 	NO PLEDGE	 	 	61	 
	 
	 	SECTION 8.12.	 	TRANSACTIONS WITH AFFILIATES	 	 	62	 
	 
	 	SECTION 8.13.	 	DEBT SERVICE COVERAGE RATIO	 	 	63	 
	 
	 	SECTION 8.14.	 	RESTRICTIONS ON DISTRIBUTIONS, REDEMPTIONS	 	 	63	 
	 
	 	SECTION 8.15.	 	CROSS COLLATERALIZATION AND CROSS DEFAULTS	 	 	64	 
	 
	 	SECTION 8.16.	 	[RESERVED]	 	 	65	 
	 
	 	SECTION 8.17.	 	CHANGES IN BUSINESS	 	 	65	 
	 
	 	SECTION 8.18.	 	ANTI-TERRORISM LAWS	 	 	65	 
	 
	 	SECTION 8.19.	 	MINIMUM LIQUIDITY	 	 	66	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE IX REPRESENTATIONS AND WARRANTIES	 	 	66	 
	 
	 	 	 	 	 	 	 	 
	 
	 	SECTION 9.01.	 	EXISTENCE	 	 	66	 
	 
	 	SECTION 9.02.	 	RIGHT TO ACT	 	 	66	 
	 
	 	SECTION 9.03.	 	BINDING EFFECT	 	 	66	 
	 
	 	SECTION 9.04.	 	LITIGATION	 	 	67	 
	 
	 	SECTION 9.05.	 	EMPLOYEE RETIREMENT INCOME SECURITY ACT	 	 	67	 
	 
	 	SECTION 9.06.	 	ENVIRONMENTAL COMPLIANCE	 	 	67	 
	 
	 	SECTION 9.07.	 	SOLVENCY; NO BANKRUPTCY FILING; NO FRAUDULENT INTENT	 	 	68	 
	 
	 	SECTION 9.08.	 	FINANCIAL STATEMENTS	 	 	68	 
	 
	 	SECTION 9.09.	 	DEFAULTS	 	 	69	 
	 
	 	SECTION 9.10.	 	OPERATIONS	 	 	69	 
	 
	 	SECTION 9.11.	 	TITLE TO PROPERTIES; PATENTS, TRADE MARKS, ETC	 	 	69	 
	 
	 	SECTION 9.12.	 	COMPLIANCE WITH OTHER INSTRUMENTS	 	 	69	 
	 
	 	SECTION 9.13.	 	MATERIAL RESTRICTIONS	 	 	69	 
	 
	 	SECTION 9.14.	 	CORRECTNESS OF DATA FURNISHED	 	 	69	 
	 
	 	SECTION 9.15.	 	TAXES	 	 	70	 
	 
	 	SECTION 9.16.	 	COMPLIANCE WITH LAWS	 	 	70	 
	 
	 	SECTION 9.17.	 	REGULATION U, ETC	 	 	70	 
	 
	 	SECTION 9.18.	 	SUBSIDIARIES; ORGANIZATIONAL STRUCTURE	 	 	71	 
	 
	 	SECTION 9.19.	 	SECURITIES ACT, ETC	 	 	71	 
	 
	 	SECTION 9.20.	 	INVESTMENT COMPANY ACT	 	 	71	 
	 
	 	SECTION 9.21.	 	INDEBTEDNESS OF SUBSIDIARIES	 	 	71	 

(iii) 

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 	 	 
	Article	 	 	 	 	 	Page	 
	 
	 	SECTION 9.22.	 	GUARANTIES	 	 	71	 
	 
	 	SECTION 9.23.	 	INDEBTEDNESS	 	 	71	 
	 
	 	SECTION 9.24.	 	ANTI-TERRORISM LAW COMPLIANCE	 	 	72	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE X EVENTS OF DEFAULT	 	 	72	 
	 
	 	 	 	 	 	 	 	 
	 
	 	SECTION 10.01.	 	PAYMENTS	 	 	72	 
	 
	 	SECTION 10.02.	 	COVENANTS	 	 	72	 
	 
	 	SECTION 10.03.	 	REPRESENTATIONS AND WARRANTIES	 	 	72	 
	 
	 	SECTION 10.04.	 	CROSS DEFAULT	 	 	72	 
	 
	 	SECTION 10.05.	 	TERMINATION OF PLAN OR UNFUNDED PLAN	 	 	73	 
	 
	 	SECTION 10.06.	 	DOMESTIC SUBSIDIARY SOLVENCY	 	 	73	 
	 
	 	SECTION 10.07.	 	BORROWER’S SOLVENCY	 	 	74	 
	 
	 	SECTION 10.08.	 	CHANGE OF OWNERSHIP; CHANGE OF MANAGEMENT EVENT	 	 	74	 
	 
	 	SECTION 10.09.	 	JUDGMENTS	 	 	74	 
	 
	 	SECTION 10.10.	 	DEFAULT UNDER GUARANTY	 	 	75	 
	 
	 	SECTION 10.11.	 	DEFAULT UNDER SUBORDINATION AGREEMENT	 	 	75	 
	 
	 	SECTION 10.12.	 	DEFAULT UNDER PLEDGE AGREEMENT	 	 	75	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE XI REMEDIES UPON DEFAULT	 	 	75	 
	 
	 	 	 	 	 	 	 	 
	 
	 	SECTION 11.01.	 	OPTIONAL DEFAULTS	 	 	75	 
	 
	 	SECTION 11.02.	 	AUTOMATIC DEFAULTS	 	 	75	 
	 
	 	SECTION 11.03.	 	REMEDIES RELATING TO LETTERS OF CREDIT	 	 	76	 
	 
	 	SECTION 11.04.	 	OFFSETS	 	 	76	 
	 
	 	SECTION 11.05.	 	APPLICATION OF PAYMENTS	 	 	76	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE XII THE AGENT	 	 	76	 
	 
	 	 	 	 	 	 	 	 
	 
	 	SECTION 12.01.	 	APPOINTMENT AND AUTHORIZATION	 	 	76	 
	 
	 	SECTION 12.02.	 	DELEGATION OF DUTIES	 	 	77	 
	 
	 	SECTION 12.03.	 	LIABILITY OF AGENT	 	 	77	 
	 
	 	SECTION 12.04.	 	RELIANCE BY AGENT	 	 	78	 
	 
	 	SECTION 12.05.	 	RESIGNATION OR REMOVAL OF THE AGENT;	 	 	 	 
	 
	 	 	 	SUCCESSOR AGENT	 	 	78	 
	 
	 	SECTION 12.06.	 	NOTE HOLDERS	 	 	79	 
	 
	 	SECTION 12.07.	 	CONSULTATION WITH COUNSEL	 	 	79	 
	 
	 	SECTION 12.08.	 	DOCUMENTS	 	 	80	 
	 
	 	SECTION 12.09.	 	KNOWLEDGE OF DEFAULT	 	 	80	 
	 
	 	SECTION 12.10.	 	INDEMNIFICATION	 	 	80	 
	 
	 	SECTION 12.11.	 	AGENTS IN THEIR INDIVIDUAL CAPACITIES	 	 	81	 
	 
	 	SECTION 12.12.	 	EQUALIZATION PROVISION	 	 	81	 
	 
	 	SECTION 12.13.	 	NO RELIANCE ON AGENTS’ CUSTOMER	 	 	 	 
	 
	 	 	 	IDENTIFICATION PROGRAMS	 	 	82	 

(iv) 

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 	 	 
	Article	 	 	 	 	 	Page	 
	 
	 	SECTION 12.14.	 	BANKRUPTCY	 	 	82	 
	 
	 	SECTION 12.15.	 	DELINQUENT BANKS	 	 	82	 
	 
	 	SECTION 12.16.	 	DUTIES IN THE CASE OF ENFORCEMENT	 	 	83	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE XIII MISCELLANEOUS	 	 	83	 
	 
	 	 	 	 	 	 	 	 
	 
	 	SECTION 13.01.	 	NO WAIVER; CUMULATIVE REMEDIES	 	 	83	 
	 
	 	SECTION 13.02.	 	AMENDMENTS, CONSENTS	 	 	84	 
	 
	 	SECTION 13.03.	 	NOTICES	 	 	85	 
	 
	 	SECTION 13.04.	 	COSTS, EXPENSES AND TAXES	 	 	85	 
	 
	 	SECTION 13.05.	 	SURVIVAL OF REPRESENTATIONS AND WARRANTIES	 	 	86	 
	 
	 	SECTION 13.06.	 	OBLIGATIONS SEVERAL; NO FIDUCIARY OBLIGATIONS	 	 	86	 
	 
	 	SECTION 13.07.	 	EXECUTION IN COUNTERPARTS	 	 	86	 
	 
	 	SECTION 13.08.	 	BINDING EFFECT; PARTICIPATIONS AND ASSIGNMENT	 	 	86	 
	 
	 	SECTION 13.09.	 	INDEMNIFICATION BY THE BORROWER	 	 	88	 
	 
	 	SECTION 13.10.	 	GOVERNING LAW	 	 	89	 
	 
	 	SECTION 13.11.	 	SEVERABILITY OF PROVISIONS; CAPTIONS	 	 	89	 
	 
	 	SECTION 13.12.	 	PURPOSE	 	 	89	 
	 
	 	SECTION 13.13.	 	CONSENT TO JURISDICTION	 	 	89	 
	 
	 	SECTION 13.14.	 	ENTIRE AGREEMENT	 	 	89	 
	 
	 	SECTION 13.15.	 	JURY TRIAL WAIVER	 	 	89	 
	 
	 	SECTION 13.16.	 	SURVIVAL	 	 	90	 
	 
	 	SECTION 13.17.	 	INDEPENDENCE OF COVENANTS	 	 	90	 
	 
	 	SECTION 13.18.	 	INTERPRETATION	 	 	90	 
	 
	 	SECTION 13.19.	 	GENERAL LIMITATION OF LIABILITY	 	 	90	 
	 
	 	SECTION 13.20.	 	USA PATRIOT ACT NOTIFICATION	 	 	91	 

(v) 

 

	 	 	 
	EXHIBITS
	 

	 	 

	A

	 	COMMITMENTS

	B

	 	FORM OF GUARANTY

	C

	 	OUTSTANDING LETTERS OF CREDIT

	D-1

	 	FORM OF REVOLVING LOAN NOTE

	D-2

	 	FORM OF SWING LINE NOTE

	E

	 	FORM OF LETTER OF CREDIT REQUEST

	F

	 	FORM OF NOTICE OF BORROWING

	G

	 	FORM OF ASSIGNMENT AND ASSUMPTION AGREEMENT

	 

	 	 

	SCHEDULES
	 

	 	 

	2.03

	 	AUTHORIZED FISCAL OFFICERS

	7.14

	 	POST-CLOSING ITEMS

	9.00

	 	EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES

	9.18

	 	ORGANIZATIONAL STRUCTURE

	9.22

	 	OUTSTANDING GUARANTEES

	9.23

	 	OUTSTANDING INDEBTEDNESS

(vi) 

 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

     SECOND AMENDED AND RESTATED CREDIT AGREEMENT, dated as of January 29, 2010 (this “Agreement”),
among FOREST CITY RENTAL PROPERTIES CORPORATION, an Ohio corporation (the “Borrower”), the banking
institutions from time to time party hereto, together with their respective successors and
permitted assigns (collectively the “Banks” and individually a “Bank”), KEYBANK NATIONAL
ASSOCIATION, Cleveland, Ohio, as Administrative Agent for the Banks under this Agreement (the
“Agent”), PNC BANK, NATIONAL ASSOCIATION, as successor to National City Bank, Cleveland, Ohio, as
Syndication Agent for the Banks under this Agreement (the “Syndication Agent”), and BANK OF
AMERICA, N.A., as Documentation Agent (the “Documentation Agent”).

W I T N E S S E T H:

     WHEREAS, the Borrower, certain of the Banks party hereto on the date hereof, the Agent,
National City Bank, as Syndication Agent, and Bank of America, N.A. and LaSalle Bank National
Association, as Co-Documentation Agents, previously entered into an Amended and Restated Credit
Agreement, dated as of June 6, 2007 (as amended to the date hereof, the “2007 Credit Agreement”);
and

     WHEREAS, the Borrower, the Banks party hereto on the date hereof, the Agents (as defined
below) and the Documentation Agent desire to amend and restate the 2007 Credit Agreement in its
entirety and the Banks, the Agents and the Documentation Agent are willing to do so upon the terms
and subject to the conditions set forth herein.

     NOW, THEREFORE, in consideration of the recitals herein and mutual covenants and agreements
contained herein, the parties hereto hereby amend and restate the 2007 Credit Agreement in its
entirety and covenant and agree as follows:

ARTICLE I

DEFINITIONS

     As used in this Agreement, the following terms shall have the following meanings:

     “Advantage” shall mean any payment (whether made voluntarily or involuntarily, by offset of
any deposit or other Indebtedness or otherwise) received by any Bank in respect of the Borrower’s
Debt to the Banks (other than as a result of the operation of Section 4.06, 4.07, 4.15 or 13.08) if
such payment results in that Bank having a lesser share of the Borrower’s Debt to the Banks than
was the case immediately before such payment.

     “Affiliate” of any Person shall mean any other Person directly or indirectly controlling or
controlled by or under direct or indirect common control with such Person. For purposes of this
definition, “control” when used with respect to any Person shall mean the power to direct the
management and policies of such Person, directly or indirectly, whether through the ownership of
voting securities, by contract or otherwise; and the terms “controlling” and “controlled” shall
have meanings correlative to the foregoing.

-1-

 

     “Agent” shall mean KeyBank National Association, in its capacity as administrative agent for
the Banks hereunder, and its successors in such capacity.

     “Agents” shall mean collectively, the Agent and the Syndication Agent.

     “Agent’s Special Counsel” shall mean McKenna Long & Aldridge LLP.

     “Agreement” shall mean this Second Amended and Restated Credit Agreement as the same may be
from time to time amended, supplemented, modified, extended and/or restated.

     “Anti-Terrorism Law” shall mean the USA Patriot Act or any other law pertaining to the
prevention of future acts of terrorism, in each case as such law may be amended from time to time.

     “Authorized Fiscal Officer” shall have the meaning set forth in Section 2.03(b) hereof.

     “Bankruptcy Code” shall mean Title 11 of the United States Code, as the same may be amended
from time to time.

     “Bank” or “Banks” shall mean, individually or collectively as the context may require, the
banking institutions from time to time party hereto, together with their respective successors and
permitted assigns.

     “Base Rate” shall mean a rate per annum equal to the greatest of (a) that interest rate
established from time to time by the Person serving as the Agent at its principal office as such
Person’s prime rate, whether or not such rate is publicly announced, plus one and one-half percent
(1.5%) per annum, (b) the Federal Funds Effective Rate, determined one Business Day prior to the
date of determination, plus one-half of one percent (0.5%) per annum or (c) the then-applicable
LIBOR rate for a one month Interest Period (subject to the LIBOR Floor), plus the Indicated Spread
for the LIBOR Rate Option. The prime rate may be other than the lowest interest rate charged by
the Person serving as the Agent for commercial or other extensions of credit.

     “Base Rate Option” shall mean interest determined pursuant to Section 4.01(c) hereof and
related provisions hereof.

     “Board of Directors” shall mean either the board of directors of the Parent or any duly
constituted committee thereof.

     “Borrower” shall mean Forest City Rental Properties Corporation, an Ohio corporation.

     “Capital Stock” of any Person shall mean any and all shares, interests, participations, or
other equivalents (however designated) of corporate stock or other equity participations or
interests including, without limitation, partnership interests, whether general or limited, and
membership interests, whether of managing or non-managing members, of such Person.

     “Cash” shall mean money in legal tender of the United States.

-2-

 

     “Cash Equivalents” shall mean, as of any date of determination, highly liquid instruments with
a maturity of three (3) months or less.

     “Cash Sources” shall mean, collectively but without duplication, (a) the pro rata share of
Cash and Cash Equivalents on hand of the Parent, the Borrower and their respective Subsidiaries,
(b) Operational Capital, (c) External Capital and (d) proceeds of Loans.

     “Change of Management Event” shall be deemed to have occurred at such time as any two (2) of
James A. Ratner, Charles A. Ratner, Ronald A. Ratner, David J. LaRue and Robert G. O’Brien become
unable or cease to hold the respective positions held by such persons on the date of this Agreement
or any more senior position, with all the responsibilities normally associated with such positions,
provided, that, no Change of Management Event shall be deemed to have occurred if within
one hundred eighty (180) days the Borrower shall have obtained the reasonable approval of the
Required Banks, in their sole discretion, of one or more additional executives, such that the
remaining and new management executives as a group, have substantial and sufficient knowledge,
experience and capabilities in the management of a company engaged in the operation of a
multi-asset real estate business of the type engaged in by the Borrower.

     “Change of Ownership Event” shall be deemed to have occurred at such time as either (a) any
Person (other than a Permitted Holder) or any Persons acting together that would constitute a
“group” for purposes of Section 13(d) of the Exchange Act or any successor provision thereto (other
than Permitted Holders), together with any Affiliates or Related Persons thereof, shall
beneficially own (within the meaning of Rule 13d-3 under the Exchange Act, or any successor
provision thereto) at least thirty percent (30%) of the aggregate voting power of all classes of
Voting Stock of the Parent; or (b) as of any date a majority of the Board of Directors of the
Parent (the “Board”) consists of individuals who were not either (i) directors of the Parent as of
the corresponding date of the previous year, or (ii) selected or nominated to become directors by
the Board of which a majority consisted of individuals described in clause (b)(i) above, or (iii)
selected or nominated to become directors by the Board of which a majority consisted of individuals
described in clause (b)(i) above and individuals described in clause (b)(ii) above (excluding, in
the case of both clause (b)(ii) and clause (b)(iii), any individual whose initial nomination for,
or assumption of office as, a member of the Board occurs as a result of an actual or threatened
solicitation of proxies or consents for the election or removal of one or more directors by any
person or group other than a solicitation for the election of one or more directors by or on behalf
of the Board); or (c) the Permitted Holders referenced in clause (i) of the definition of
“Permitted Holder” shall cease to beneficially own directly or indirectly at least forty-five
percent (45%) of the aggregate voting power of all classes of Voting Stock of the Parent;
provided that there shall be no Change of Ownership Event under this clause (c) solely in
connection with any issuance of Voting Stock of the Parent (including in connection with the
exercise of any conversion rights by securities holders) after the Restatement Effective Date which
issuance reduces such beneficial ownership by such Permitted Holders below forty-five percent (45%)
provided such Permitted Holders beneficially own directly or indirectly no less than [forty percent
(40%)] of the aggregate voting power of all classes of Voting Stock of the Parent; or (d) the
Parent shall cease to own at least one hundred percent (100%), on a fully diluted basis, of the
economic and voting interests of the Borrower.

-3-

 

     “Cleveland Banking Day” shall mean a day on which the main office of the Agent is open for the
transaction of business.

     “Code” shall mean the Internal Revenue Code of 1986, as amended, or any successor statute and
the rules and regulations issued thereunder.

     “Collateral” shall mean all of the property, rights and interests of the Borrower which are
subject to the security interests, security title, liens and mortgages created by the Security
Documents.

     “Commitment” shall mean the obligation of each Bank, during the applicable Commitment Period,
to make Revolving Loans and to participate in Swing Loans and Letters of Credit, in an aggregate
amount not to exceed the amount set forth opposite such Bank’s name under the column headed
“Maximum Amount” on Exhibit A attached hereto (as such Exhibit A may be amended or otherwise
modified from time to time pursuant to Section 5.07(a) or Section 13.08(a) hereof), or such lesser
amount as shall be determined pursuant to Section 5.07(b) hereof.

     “Commitment Period” shall mean the period from the Restatement Effective Date until the
Termination Date.

     “Common Stock” of any Person shall mean Capital Stock of such Person that does not rank prior,
as to the payment of dividends or distributions or as to other amounts upon any voluntary or
involuntary liquidation, dissolution, or winding up of such Person, to shares of Capital Stock or
any other class of stock of such Person.

     “Completion Guaranty” shall mean any guarantee of performance by the Borrower or the Parent,
as applicable, that construction of a real estate project will be completed in accordance with
applicable plans and specifications and that all costs associated with such completion will be
paid, provided, that such costs may include an interest reserve only through completion of
the project and not through stabilization of such project.

     “Consideration” shall have the meaning set forth in the definition of Multi-Asset
Acquisition.

     “Contingent Obligation” shall mean, with respect to any Person at the time of any
determination, without duplication, any obligation, contingent or otherwise, of such Person
guaranteeing or having the economic effect of guaranteeing any Indebtedness of any other Person in
any manner, whether directly or otherwise; provided, that the term “Contingent Obligation”
shall not include endorsements for collection or deposit, in each case in the ordinary course of
business. The amount of any Contingent Obligation shall be deemed to be an amount equal to the
stated or determinable amount of the Indebtedness in respect of which such Contingent Obligation is
made or, if not stated or determinable, the maximum reasonable anticipated liability in respect
thereof (assuming such Person is required to perform thereunder).

     “Cross-Collateralize” with respect to any Person, shall mean (a) the granting of a Lien by
such Person on all or a portion of the assets of such Person to secure Indebtedness owing by such
Person to a lender and the granting of a Lien by such Person on the same group of assets to

-4-

 

secure Indebtedness owing by such Person to (i) the same lender under a different agreement,
note or other instrument or (ii) one or more other lenders, or (b) the granting of a Lien by such
Person on more than one asset of such Person to secure Indebtedness owing by such Person to one or
more lenders under one agreement, note or other instrument or (c) the granting of a Lien by such
Person on all or a portion of its assets to secure Indebtedness owing by another Person.

     “Debt” shall mean, collectively, (a) all Indebtedness now or hereafter incurred by the
Borrower to the Banks (including the Swing Line Lenders and the Issuing Banks) pursuant to this
Agreement, the Notes and the other Related Writings, including, but not limited to, the principal
of and interest on all Notes, the stated amounts of all Letters of Credit issued by the Issuing
Banks hereunder and related LC Obligations and the fees and any LIBOR breakage compensation payable
hereunder or thereunder, (b) each extension, renewal, consolidation or refinancing thereof in whole
or in part and (c) all interest from time to time accruing on any of the foregoing Indebtedness
(including interest which, but for the filing of a petition in bankruptcy with respect to the
Borrower, would have accrued on any of the foregoing Indebtedness, whether or not a claim is
allowed against the Borrower for such interest in the related bankruptcy proceeding).

     “Debt Service Coverage Ratio” shall mean, for any Test Period, the ratio of (i) Net Operating
Income to (ii) the sum of (W) all scheduled principal payments (excluding balloon payments) on
non-recourse mortgage Indebtedness of the Borrower and its Subsidiaries, plus (X) all
interest expense of the Borrower and its Subsidiaries as reported on Form 8-K that is furnished by
the Parent (or on its behalf) to the Securities and Exchange Commission with respect to such Test
Period (to be calculated in a manner consistent with prior Test Periods), minus (Y)
non-cash interest expense accrued but not currently payable, up to a maximum of Five Million
Dollars ($5,000,000), excluding non-cash interest expense accrued with respect to Indebtedness
owing by the Borrower and its Subsidiaries to the government of the United States or any state or
municipality thereof or any agencies of any of the foregoing, minus (Z) non-cash interest
expense accrued but not currently payable solely with respect to Indebtedness owing by the Borrower
and its Subsidiaries to the government of the United States or any state or municipality thereof or
any agencies of any of the foregoing, in each case with respect to such Test Period.

     “Delinquent Bank” shall have the meaning set forth in Section 12.15 hereof.

     “Distributions” shall have the meaning set forth in Section 8.14(a) hereof.

     “Dividends” shall mean all dividends (in cash or otherwise) declared and/or paid, capital
returned, and other distributions of any kind made on or in respect of any share of Capital Stock
outstanding at any time.

     “Domestic Subsidiary” shall mean any Subsidiary organized under the laws of any state of the
United States of America or the District of Columbia which conducts the major portion of its
business within the United States.

     “Draw” shall have the meaning set forth in Section 3.01(b) hereof.

     “80% FCCC Loans” shall have the meaning set forth in Section 8.15(b)(viii) hereof.

-5-

 

     “Environmental Laws” shall mean all provisions of law, statutes, ordinances, rules,
regulations, permits, licenses, judgments, writs, injunctions, decrees, orders, awards and
standards promulgated by the government of the United States of America or by any state or
municipality thereof or by any court, agency, instrumentality, regulatory authority or commission
of any of the foregoing, now or hereafter in effect, and in each case as amended, concerning or
relating to health, safety and protection of, or regulation of the discharge of substances into,
the environment.

     “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time
to time, and the regulations and rulings issued thereunder.

     “ERISA Affiliate” shall mean each person (as defined in Section 3(9) of ERISA) which together
with the Borrower, the Parent or any Subsidiary of the Borrower or any Subsidiary of the Parent
would be deemed a “single employer” within the meaning of Sections 414(b), (c), (m) or (o) of the
Code.

     “Event of Default” shall have the meaning set forth in Article X hereof.

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, or any successor
thereto.

     “External Capital” shall mean incremental net proceeds received by the Parent, the Borrower or
any of their respective Subsidiaries from (a) asset sales, (b) joint ventures, (c) loans, (d) the
issuance of notes by the Parent, (e) the issuance of preferred and/or common equity and/or (g)
other similar capital raising events; provided that, for the avoidance of doubt, External
Capital shall include any proceeds not otherwise constituting Operational Capital.

     “FCCC” shall mean Forest City Capital Corporation, an Ohio corporation and a wholly-owned
Subsidiary of the Borrower.

     “Federal Funds Effective Rate” shall mean, for any period, a fluctuating interest rate equal
for each day during such period to the weighted average of the rates on overnight federal funds
transactions with members of the Federal Reserve System arranged by federal funds brokers, as
published for such day (or, if such day is not a Cleveland Banking Day, for the next preceding
Cleveland Banking Day) by the Federal Reserve Bank of Cleveland, or, if such rate is not so
published for any day which is a Cleveland Banking Day, the average of the quotations for such day
on such transactions received by the Agent from three federal funds brokers of recognized standing
selected by the Agent.

     “Fiscal Quarterly Date” shall mean each of January 31, April 30, July 31 and October 31.

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

     “Government Acts” shall have the meaning set forth in Section 3.01(m) hereof.

-6-

 

     “Guaranty” shall mean the Second Amended and Restated Guaranty of Payment of Debt issued by
the Parent to the Agents, the Documentation Agent and the Banks, in substantially the form and
substance of Exhibit B attached hereto, as such Guaranty may be from time to time, amended,
restated or otherwise modified in accordance with the terms of this Agreement and the Guaranty.

     “Guaranty Default” shall mean any one or more of the events constituting defaults under
Section 10 of the Guaranty.

     “Hedge Agreement” shall mean any non-fully paid derivative, such as interest rate swaps or
collar agreements or other similar agreements or arrangements designed to hedge the position of a
Person with respect to interest rates, excluding (a) any such agreements as to which all of the
obligations of such Person are paid or payable within twelve (12) months of the date such agreement
is entered into by such Person and (b) Total Rate of Return Swaps.

     “Indebtedness” shall mean, with respect to any Person at the time of any determination,
without duplication, all obligations of such Person which in accordance with GAAP should be
classified upon the balance sheet of such Person as liabilities, but in any event including: (a)
all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by
bonds, debentures, notes or other similar instruments, (c) all obligations of such Person upon
which interest charges are customarily paid or accrued, (d) all written obligations of such Person
to maintain working capital, equity capital or other financial statement condition of another
Person so as to enable such other Person to pay its Indebtedness or otherwise to protect the holder
of such Indebtedness against loss in respect thereof, (e) all obligations of such Person issued or
assumed as the deferred purchase price of property or services, (f) all obligations of others
secured by any Lien on property owned or acquired by such Person, whether or not the obligations
secured thereby have been assumed, (g) all capitalized lease obligations of such Person, (h) all
obligations of such Person in respect of Hedge Agreements and Total Rate of Return Swaps, (i) all
obligations of such Person, actual or contingent, as an account party or applicant in respect of
letters of credit or bankers’ acceptances, and, without duplication, all drafts drawn thereunder,
and (j) all obligations of any partnership or joint venture as to which such Person is or may
become personally liable, provided, that, Indebtedness shall not include (i) any
obligations incurred as a result of fraud, misappropriation, misapplication and environmental
indemnities, as are usual and customary in commercial mortgage loan transactions, and (ii) trade
payables, deferred revenue, taxes and accrued expenses, in each case arising in the ordinary course
of business and that is due and payable less than twelve (12) months after the date such debt was
incurred.

     “Indemnity Agreement” shall mean any indemnity agreement, in form and substance satisfactory
to the Agents and the Banks, by and between the Parent and a Surety, and as each such indemnity
agreement may be amended, restated or otherwise modified.

     “Indicated Spread” shall have the meaning set forth in Section 4.01(d) hereof.

     “Insolvent/Seized Bank” shall mean any Bank which (or whose parent holding company) is subject
to (a) any bankruptcy, insolvency, reorganization, liquidation or similar proceeding, or (b) any
“cease and desist” order or “consent” order restricting, limiting or

-7-

 

requiring prior approval for lending or other extensions of credit from, receivership of, or
other operational control of, any applicable state or federal regulatory authority.

     “Interest Adjustment Date” shall mean the last day of each Interest Period.

     “Interest Period” shall mean a period of one, two, three, six or nine months or one year (as
selected by the Borrower) commencing on the applicable borrowing, continuation or conversion date
of each Loan subject to the LIBOR Rate Option and each Interest Period occurring thereafter with
respect to such Loan shall commence on the day on which the immediately preceding Interest Period
expires; provided, that if any such Interest Period would be affected by a reduction in the
Total Revolving Loan Commitments as provided in Section 5.07 hereof, prepayment rights as provided
in Section 5.05 hereof or the maturity of the Loans as provided in Section 2.06 hereof, such
Interest Period shall, without affecting the Borrower’s obligations, if any, to pay to the Banks
the LIBOR breakage compensation set forth in Section 5.05 hereof, be shortened to end on the date
of such reduction, prepayment or maturity. Notwithstanding anything to the contrary contained
above:

     (i) if any Interest Period begins on a day for which there is no numerically
corresponding day in the calendar month at the end of such Interest Period, such Interest
Period shall end on the last London Banking Day of such calendar month;

     (ii) if any Interest Period would otherwise expire on a day which is not a London
Banking Day, such Interest Period shall expire on the next succeeding London Banking Day,
provided, that if any Interest Period would otherwise expire on a day which is not a
London Banking Day but is a day of the month after which no further London Banking Day
occurs in such month, such Interest Period shall expire on the next preceding London Banking
Day;

     (iii) no Interest Period may be selected at any time that an Event of Default has
occurred and is continuing;

     (iv) no Interest Period may be selected if it would extend beyond the scheduled
maturity date or principal repayment date(s) of the Loans to which it would apply; and

     (v) no Interest Period may be selected if it would extend beyond the Termination Date.

     “Issuing Bank” shall mean KeyBank National Association, in its capacity as the Bank issuing
Letters of Credit pursuant to the terms and conditions of this Agreement (including, without
limitation, the Letters of Credit referred to in Section 3.01(g) hereof, for which KeyBank National
Association shall be deemed to be the Issuing Bank), and any successor thereto; provided,
however, that in the event that the Borrower reasonably determines that it would be
beneficial to have a Letter of Credit issued pursuant to the terms and conditions of this Agreement
by a Bank with a higher rating than KeyBank National Association has at any applicable time of
reference (as determined by Moody’s or S&P), or for any other reason reasonably acceptable to the
Agent, the Borrower shall have the right to elect any Bank having a higher rating than KeyBank
National Association (or such other applicable Bank) as the Issuing Bank for that particular Letter
of Credit; provided, further, that no Bank other than KeyBank

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National Association shall be required to be an Issuing Bank and that no more than three (3)
Banks in addition to KeyBank National Association may be an Issuing Bank at any time. When
referred to in this Agreement, Issuing Bank shall refer to the Bank acting as Issuing Bank with
respect to any particular Letter of Credit issued pursuant to the terms and conditions of this
Agreement and, with respect to establishing whether any consent, approval or waiver to be given or
granted by the Issuing Banks hereunder has been properly given or granted, only the consent,
approval or waiver of the Issuing Banks which, at the time such consent, approval or waiver is to
be given or granted, have issued any outstanding Letters of Credit, shall be required.

     “Last LIBOR” shall have the meaning set forth in Section 5.05(b) hereof.

     “Land Group” shall mean Forest City Land Group, Inc., an Ohio corporation, together with its
Subsidiaries.

     “LC Obligations” shall mean the aggregate amount of all possible drawings under all Letters of
Credit issued pursuant to Section 3.01 hereof and all Letters of Credit listed on Exhibit C
attached hereto (which are letters of credit originally issued under the 2007 Credit Agreement that
remain outstanding on the date hereof), plus all amounts drawn under any of such Letters of Credit
and not reimbursed.

     “Letter of Credit” shall mean, unless otherwise specified in this Agreement, or a Related
Writing, a letter of credit issued by an Issuing Bank pursuant to the terms and conditions of this
Agreement.

     “LIBOR” shall mean, for any Loan bearing interest at the LIBOR Rate Option for any Interest
Period, the average rate as shown in Reuters Screen LIBOR01 Page (or any successor service, or if
such Person no longer reports such rate as reasonably determined by Agent, by another commercially
available source providing such quotations reasonably approved by Agent) at which deposits in U.S.
dollars are offered by first class banks in the London Interbank Market at approximately 11:00 a.m.
(London time) on the day that is two (2) London Banking Days prior to the first day of such
Interest Period with a maturity approximately equal to such Interest Period and in an amount
approximately equal to the amount to which such Interest Period relates, adjusted for reserves and
taxes if required by future regulations; provided that in no event shall LIBOR ever be less than
the LIBOR Floor. If such service no longer reports such rate or the Agent determines in good faith
that the rate so reported no longer accurately reflects the rate available to the Person serving as
the Agent in the London Interbank Market, Loans shall accrue interest at the Base Rate plus the
Indicated Spread for such Loan. For any period during which a Reserve Percentage shall apply,
LIBOR with respect to any Loan bearing interest at the LIBOR Rate Option shall be equal to the
amount determined above divided by an amount equal to 1 minus the Reserve Percentage.

     “LIBOR Breakage Rate” shall have the meaning set forth in Section 5.05(b) hereof.

     “LIBOR Floor” shall mean a rate of two hundred (200) basis points per annum.

     “LIBOR Rate Option” shall mean interest determined pursuant to Section 4.01(b) and related
provisions hereof.

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     “Lien” shall mean any mortgage, pledge, security interest, encumbrance, lien or charge of any
kind (including any agreement to give any of the foregoing, any conditional sale or other title
retention agreement, any financing or similar statement or notice filed under the Uniform
Commercial Code or any similar notice or recording statute, and any lease having substantially the
same effect as any of the foregoing).

     “Loan” shall mean a Revolving Loan or a Swing Loan.

     “London Banking Day” shall mean a day on which banks are open for business in London, England,
and quoting deposit rates for U.S. dollar deposits.

     “Majority Banks” shall mean, at any time, Banks having greater than fifty percent (50%) of the
Total Revolving Loan Commitments or, if the Total Revolving Loan Commitments shall have been
terminated, Banks holding Notes evidencing greater than fifty percent (50%) of the aggregate unpaid
principal amount outstanding under the Notes (other than the Swing Line Notes) and outstanding LC
Obligations (and each Bank shall be deemed to hold outstanding LC Obligations in an amount equal to
its Pro rata share thereof based on such Bank’s Commitment); provided that in determining
said percentage at any given time, all then existing Delinquent Banks will be disregarded and
excluded and the Total Revolving Loan Commitments or aggregate unpaid principal amount outstanding
under such Notes and outstanding LC Obligations, as applicable, shall be redetermined for voting
purposes only to exclude the Commitments, or the unpaid principal amount outstanding under such
Notes and outstanding LC Obligations, as applicable, of such Delinquent Banks.

     “Mandatory Request” shall have the meaning set forth in Section 2.07(b) hereof.

     “Material Adverse Effect” shall mean (a) a material adverse effect on the business, property,
assets, liabilities, or condition (financial or otherwise) of the Borrower or the Parent or (b) a
material adverse effect on the rights or remedies of the Banks or the Agents, or on the ability of
the Borrower or the Parent to perform its respective obligations to the Banks or the Agents under
this Agreement, the Notes, the Guaranty, the Pledge Agreement or the other Related Writings or (c)
a material adverse effect on the validity or enforceability of this Agreement, the Notes, the
Guaranty, the Pledge Agreement or the other Related Writings or the creation, perfection and
priority of any Liens of the Agent in the Collateral.

     “Material Possible Default” shall mean any Possible Default relating to Section 7.17 hereof or
Section 9.8 of the Guaranty.

     “Maximum Swing Line Amount” shall have the meaning set forth in Section 2.07(a) hereof.

     “Maximum Letter of Credit Amount” shall have the meaning set forth in Section 3.01(a) hereof.

     “Measured Credit Risk” shall mean the product of (i) the notional amount of a Hedge Agreement
entered into or guaranteed by the Parent, the Borrower, FCCC, or any other Subsidiary of the
Borrower (other than a SPE Subsidiary) in each case with any Person other than a Bank that has a
remaining period to maturity of greater than twelve (12) months, times (ii)

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the number of years remaining to maturity of such Hedge Agreement, times (iii) one and
one-quarter percent (1.25%).

     “Moody’s” shall mean Moody’s Investors Service, Inc.

     “Multi-Asset Acquisition” shall mean any transaction or series of related transactions entered
into by one or more Subsidiaries of the Borrower for the purpose of or resulting, directly or
indirectly, in (i) the acquisition of all or substantially all of the assets of any Person, or any
business unit or division of any Person, or two or more unrelated assets of any Person (that is,
assets other than those consisting of a single identifiable project) (in each case other than an
Affiliate of the Borrower), (ii) the acquisition of in excess of fifty percent (50%) of the stock
(or other equity interest) of any Person, or (iii) the acquisition of another Person by a merger or
consolidation or any other combination with such Person; where the total Consideration paid by any
such Subsidiary in each such acquisition (or series of related acquisitions) does not exceed Two
Hundred Million Dollars ($200,000,000) and where the aggregate of the Consideration paid by all
Subsidiaries of the Borrower in all such acquisitions from and after June 6, 2007 does not exceed
Eight Hundred Million Dollars ($800,000,000). For purposes of this definition, “Consideration”
shall mean all consideration paid by the acquiring Subsidiary, including all borrowed funds, cash,
the issuance of securities or notes and the assumption or incurring of liabilities (direct and
contingent).

     “Multiemployer Plan” shall mean a multiemployer plan as defined in Section 4001(a)(3) of
ERISA, to which the Borrower, its Subsidiaries or any ERISA Affiliate is making or accruing an
obligation to make contributions or has within any of the five (5) plan years before that time made
or accrued an obligation to make contributions.

     “Net Operating Income” shall mean, for any Test Period, the excess of the Borrower’s revenues
and the revenues of any Person in which the Borrower owns a direct or an indirect interest over the
Borrower’s and such Persons’ operating expenses; provided, however, Net Operating
Income (a) shall not include any gains or losses from the sale of income producing real property,
other than gains or losses obtained from the sale of outlot parcels up to a total maximum aggregate
amount of Twenty Million Dollars ($20,000,000) for the immediately preceding four consecutive
quarters, (b) shall include adjustments for cash flow of properties pursuant to which the Borrower
is receiving a preferred return over and above its ownership percentage in such properties, (c)
shall not include any gains resulting from the re-appraisal or write-up of any assets or with
respect to derivatives, (d) shall not include non-cash expenses incurred in connection with
stock-based compensation or as a result of development project write-offs, early extinguishment of
Indebtedness and derivative losses and (e) shall not include other extraordinary, unusual or
non-recurring gains, losses or expenses to the extent such gains, losses or expenses are disclosed
or reported in the Form 8-K that is furnished by Parent (or on its behalf) to the Securities and
Exchange Commission with respect to such period, in each case (including, without limitation, the
calculation of revenues and operating expenses) as determined in accordance with the Pro Rata
Consolidation Method.

     “Non-Affiliate Construction Project” shall mean any real property and all improvements to be
constructed thereon (collectively, the “Non-Affiliate Property”) (a) with respect to which the
Borrower or a Subsidiary of the Borrower, as the case may be, (i) may make

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a Permitted Non-Affiliate Loan, and (ii) is the developer pursuant to an agreement with a
Non-Affiliated Entity as owner of the Non-Affiliate Property; and (b) with respect to which the
Borrower or an Affiliate of the Borrower, as the case may be, holds an irrevocable option from
either the Non-Affiliated Entity or the parent of the Non-Affiliated Entity to acquire,
respectively, either (i) the Non-Affiliate Property, or (ii) all of the equity interests in and to
such Non-Affiliated Entity owned by the parent of the Non-Affiliated Entity.

     “Non-Affiliated Entity” shall mean any Person that is not an Affiliate of the Borrower and
that is wholly-owned by another Person.

     “Note” or “Notes” shall mean (a) a Revolving Loan Note or (b) a Swing Line Note, as the
context may require.

     “Notice of Borrowing” shall have the meaning set forth in Section 5.01(a) hereof.

     “Operational Capital” shall mean (a) net proceeds from (i) land sales by the Land Group, (ii)
sales of commercial “out lots” and (iii) any sales of land constituting part of the projects
commonly referred to as Stapleton, located in Denver, Colorado, Mesa del Sol, located in
Albuquerque, New Mexico and Central Station, located in Chicago, Illinois, (b) net cash flow from
operations, (c) net proceeds from FCCC and (d) tax credit proceeds, in each case as may be received
by the Parent, the Borrower or any of the Parent’s Subsidiaries; provided that, for the
avoidance of doubt, Operational Capital shall not include External Capital.

     “Parent” shall mean Forest City Enterprises, Inc., an Ohio corporation.

     “Payment Default” shall mean any failure by the Borrower or the Parent to make payment of
principal, interest, or any other fees or expenses due, whether at maturity or by acceleration,
under this Agreement, any Note or the Guaranty.

     “PBGC” shall mean the Pension Benefit Guaranty Corporation established pursuant to Section
4002 of ERISA, or any successor thereto.

     “Permitted Debt” shall have the meaning set forth in Section 8.04 hereof.

     “Permitted Distributions” shall have the meaning set forth in Section 8.14(a) hereof.

     “Permitted Holder” shall mean (i) any of Samuel H. Miller, Albert B. Ratner, Charles A.
Ratner, James A. Ratner, Ronald A. Ratner or any spouse or lineal descendant of any of the
foregoing, and any trusts for the benefit of any of the foregoing, (ii) RMS Limited Partnership and
any general partner or limited partner thereof and any Person (other than a creditor) that upon the
dissolution or winding up of RMS Limited Partnership receives a distribution of Capital Stock of
the Parent, (iii) any group (as defined in Section 13(d) of the Exchange Act) of two or more
Persons or entities that are specified in the immediately preceding clauses (i) and (ii), and (iv)
any successive recombination of the Persons or groups that are specified in the immediately
preceding clauses (i), (ii) and (iii).

     “Permitted Non-Affiliate Loan” shall mean a loan by the Borrower or any Subsidiary of the
Borrower to a Non-Affiliated Entity for the purposes of (a) purchasing or otherwise acquiring

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a Non-Affiliate Property or (b) paying construction costs, in each case, in connection with a
Non-Affiliate Construction Project.

     “Permitted Non-Affiliate Loan Reserve” shall mean, as of any date of determination, an amount
equal to (a) twenty percent (20%) multiplied by (b) the amount, if any, by which the aggregate
amount of gain deferred for federal income tax purposes on the consolidated return of the Parent
and its Subsidiaries in connection with all Non-Affiliate Construction Projects, for the three (3)
year period ending on such determination date, exceeds Seventy-Five Million Dollars ($75,000,000).

     “Permitted Uses of Cash Sources” shall have the meaning set forth in Section 9.8 of the
Guaranty.

     “Person” shall mean an individual, a corporation, a limited liability company, a partnership,
an association, a trust or any other entity or organization, including, without limitation,
governmental or political subdivision or an agency or instrumentality thereof.

     “Plan” shall mean any employee pension benefit plan subject to Title IV of ERISA or Section
412 of the Code, established or maintained by the Borrower, any Subsidiary, or any ERISA Affiliate,
or any such Plan to which the Borrower, any Subsidiary, or any ERISA Affiliate is required to
contribute on behalf of any of its employees.

     “Pledge Agreement” shall mean the Pledge Agreement dated as of even date herewith executed by
Borrower in favor of Agent, as amended, restated, supplemented or otherwise modified from time to
time.

     “Pledged Entity” shall have the meaning set forth in Section 7.05(e)(ii) hereof.

     “Pledged Subsidiary” shall have the meaning set forth in Section 8.11(a) hereof.

     “Possible Default” shall mean any event, act or condition which with notice or lapse of time,
or both, would constitute an Event of Default.

     “Post Closing Items” shall have the meaning set forth in Section 7.14 hereof.

     “Prepayment LIBOR” shall have the meaning set forth in Section 5.05(b) hereof.

     “Property Owning Entity” shall have the meaning set forth in Section 7.05(e)(ii) hereof.

     “Pro rata” when used with reference to the Banks shall mean (unless the context otherwise
clearly indicates) pro rata according to the unpaid principal amounts owing to the respective Banks
under the Notes, or, if no principal is then owing to any Bank, according to the Commitments of the
respective Banks.

     “Pro Rata Consolidation Method” shall mean the pro rata method of consolidation as fully
reconciled to GAAP and as reported on each Form 8-K that is furnished by the Parent (or on its
behalf) to the Securities and Exchange Commission.

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     “Regulatory Change” shall mean, as to any Bank, any change in federal, state or foreign laws
or regulations or the adoption or making of any interpretations, directives or requests of or under
any federal, state or foreign laws or regulations (whether or not having the force of law) by any
court or governmental authority charged with the interpretation or administration thereof.

     “Related Person” of any Person shall mean any other Person directly or indirectly owning (a)
five percent (5%) or more of the outstanding Common Stock of any class of such Person (or, in the
case of a Person that is not a corporation, five percent (5%) or more of the equity interest in
such Person), or (b) five percent (5%) or more of the combined voting power of the Voting Stock of
such Person.

     “Related Writing” shall mean any Note, assignment, mortgage, security agreement, Subordination
Agreement, pledge agreement, guaranty agreement, financial statement, audit report, officer’s
certificate or other writing furnished by the Borrower, the Parent or any of their respective
officers to the Agents or the Banks pursuant to or otherwise in connection with this Agreement,
including, but not limited to, the Guaranty, the Pledge Agreement and the Side Letter.

     “Reportable Event” shall mean a reportable event as that term is defined in Title IV of ERISA
with respect to a Plan as to which the 30-day notice requirement has not been waived by the PBGC.

     “Requested Letter of Credit Amount” shall have the meaning set forth in Section 3.01(n)
hereof.

     “Required Banks” shall mean, at any time, Banks having at least sixty-six and two-thirds
percent (66 2/3%) of the Total Revolving Loan Commitments or, if the Total Revolving Loan
Commitments shall have been terminated, Banks holding Notes evidencing, without duplication, at
least sixty-six and two-thirds percent (66 2/3%) of the aggregate unpaid principal amount
outstanding under the Notes (other than the Swing Line Notes) and outstanding LC Obligations (and
each Bank shall be deemed to hold outstanding LC Obligations in an amount equal to its Pro rata
share thereof based on such Bank’s Commitment); provided that in determining said
percentage at any given time, all then existing Delinquent Banks will be disregarded and excluded
and the Total Revolving Loan Commitments or aggregate unpaid principal amount outstanding under
such Notes and outstanding LC Obligations, as applicable, shall be redetermined for voting purposes
only to exclude the Commitments, or the unpaid principal amount outstanding under such Notes and
outstanding LC Obligations, as applicable, of such Delinquent Banks.

     “Reserve Deficiency” shall have the meaning set forth in Section 5.07 hereof.

     “Reserve Deficiency Account” shall have the meaning set forth in Section 5.07 hereof.

     “Reserve Percentage” shall mean, for any Interest Period, that percentage which is specified
two (2) Cleveland Banking Days before the first day of such Interest Period by the Board of
Governors of the Federal Reserve System (or any successor) or any other governmental or
quasi-governmental authority with jurisdiction over the Agent or any Bank for determining the
maximum reserve requirement (including, but not limited to, any marginal reserve

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requirement) for the Agent or any Bank with respect to liabilities constituting or including
(among other liabilities) Eurocurrency liabilities in an amount equal to the Loans to which such
Interest Period applies and with a maturity equal to such Interest Period.

     “Reserved Commitment” shall have the meaning set forth in Section 2.02(b) hereof.

     “Reserved Letter of Credit Amount” shall have the meaning set forth in Section 3.01(n) hereof.

     “Restatement Effective Date” shall mean the date on which all conditions precedent set forth
in Article VI are satisfied or waived by the Agent and the Required Banks.

     “Retire”, “Retired”, “Retirement” or “Retiring” shall mean, with respect to any Indebtedness
of the Parent or any of its Subsidiaries, the purchase (and simultaneous retirement), retirement,
redemption, payment and/or defeasance by the Parent or such Subsidiary, as the case may be, of such
Indebtedness in accordance with the terms and conditions of this Agreement and the Guaranty.

     “Revolving Credit Exposure” shall mean, at any time, the sum of (a) the aggregate principal
amount of all Revolving Loans outstanding, (b) the Swing Line Exposure, (c) the LC Obligations
outstanding and (d) the Reserved Letter of Credit Amount then in effect.

     “Revolving Loan Note” shall mean a note or notes substantially in the form of Exhibit D-1
attached hereto, executed and delivered by the Borrower pursuant to Section 2.05 or 13.08 hereof,
as applicable, and as each such Note may be, from time to time, amended, restated or otherwise
modified and all replacements therefor.

     “Revolving Loans” shall have the meaning set forth in Section 2.03(a) hereof.

     “Satisfaction Date” shall have the meaning set forth in Section 7.14 hereof.

     “Security Documents” shall mean, collectively, the Pledge Agreement, UCC-1 financing
statements and any further collateral assignments by the Borrower or any of its Subsidiaries to the
Agent for the benefit of the Banks.

     “Senior Notes” shall mean the 2003 Senior Notes, the 2004 Senior Notes, the 2005 Senior Notes,
the 2006 Puttable Senior Notes, the 2009 Puttable Senior Notes and the 2009 Convertible Senior
Notes.

     “Senior Notes Indentures” shall mean the 2003 Senior Notes Indenture, the 2006 Puttable Senior
Notes Indenture, the 2009 Puttable Senior Notes Indenture and the 2009 Convertible Senior Notes
Indenture.

     “Senior Officer” shall mean the chief executive officer, president or chief financial officer
of either the Parent or the Borrower, as applicable.

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     “Side Letter” shall mean that certain side letter dated the date hereof executed by the
Borrower, the Parent, the Agent and the Banks, together with the schedules attached thereto, as
such schedules may be updated from time to time as provided in this Agreement.

     “SPE Subsidiary” shall mean a Subsidiary of the Borrower whose sole assets consist of
contiguous parcels of land, the improvements, if any, thereon, fixtures and other equipment used in
connection therewith, receivables arising from tenants in connection therewith and the proceeds of
such receivables and other property directly obtained from the ownership of such assets.

     “S&P” shall mean Standard & Poor’s Corporation.

     “Subordination Agreement” shall mean any subordination agreement in form and substance
satisfactory to the Agents and the Banks entered into by a Surety in favor of the Agent for the
benefit of the Banks, and as each such Subordination Agreement may, from time to time, be amended,
restated or otherwise modified in accordance with the terms hereof.

     “Subsidiary” of any Person shall mean and include (i) any corporation more than fifty percent
(50%) of whose stock of any class or classes having by the terms thereof ordinary voting power to
elect a majority of the directors of such corporation is at the time owned by such Person directly
or indirectly through one or more Subsidiaries, (ii) any partnership, limited liability company,
association (including any business trust) or other entity in which such Person directly or
indirectly through one or more Subsidiaries, has more than a fifty percent (50%) voting or equity
interest at the time and (iii) any corporation, limited liability company, partnership, association
or other entity the accounts of which are consolidated with those of its parent in the parent’s
consolidated financial statements. Unless otherwise specified, references in this Agreement to
“Subsidiary” shall be deemed to refer to a Subsidiary of the Borrower.

     “Super Majority Banks” shall mean, at any time, Banks having at least eighty percent (80%) of
the Total Revolving Loan Commitments or, if the Total Revolving Loan Commitments shall have been
terminated, Banks holding Notes evidencing, without duplication, at least eighty percent (80%) of
the aggregate unpaid principal amount outstanding under the Notes (other than the Swing Line Notes)
and outstanding LC Obligations (and each Bank shall be deemed to hold outstanding LC Obligations in
an amount equal to its Pro rata share thereof based on such Bank’s Commitment); provided
that in determining said percentage at any given time, all then existing Delinquent Banks will be
disregarded and excluded and the Total Revolving Loan Commitments or aggregate unpaid principal
amount outstanding under such Notes and outstanding LC Obligations, as applicable, shall be
redetermined for voting purposes only to exclude the Commitments, or the unpaid principal amount
outstanding under such Notes and outstanding LC Obligations, as applicable, of such Delinquent
Banks.

     “Surety” shall mean any surety or insurance company reasonably acceptable to the Agents.

     “Surety Bonds” shall mean the bonds, undertakings and other like obligations executed by a
Surety for the Parent subject to an Indemnity Agreement and a Subordination Agreement, in a maximum
aggregate principal amount of Thirty Million Dollars ($30,000,000) for all Sureties,

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provided, that this definition shall not include Performance Surety Bonds as defined
in the Guaranty.

     “Swing Line” shall mean the credit facility established by the Swing Line Lenders for the
Borrower in accordance with Section 2.07 hereof.

     “Swing Line Commitment” shall mean the commitment of each Swing Line Lender to make Swing
Loans to the Borrower, on an equal basis, up to the Maximum Swing Line Amount.

     “Swing Line Exposure” shall mean, at any time, the aggregate principal amount of all Swing
Loans outstanding.

     “Swing Line Lenders” shall mean KeyBank National Association and PNC Bank, National
Association, as the holders of the Swing Line Commitments.

     “Swing Line Note” shall mean a note or notes substantially in the form of Exhibit D-2 attached
hereto, executed and delivered by the Borrower pursuant to Section 2.07(d) hereof, as each such
note may be, from time to time, amended, restated or otherwise modified and replacements therefor.

     “Swing Loan” shall mean a loan granted to the Borrower by the Swing Line Lenders under the
Swing Line.

     “Swing Loan Maturity Date” shall mean, with respect to any Swing Loan, the earlier of (a)
three Cleveland Banking Days after the date such Swing Loan is made or (b) the Termination Date.

     “Syndication Agent” shall mean PNC Bank, National Association, successor to National City
Bank, in its capacity as syndication agent for the Banks hereunder, and its successors in such
capacity.

     “Taxes” shall have the meaning set forth in Section 4.07 hereof.

     “Termination Date” shall mean February 1, 2012, unless extended by the Banks pursuant to
Section 5.08 hereof, in which case the Termination Date shall be the date of the expiration of any
such extension, or, if terminated earlier pursuant to Section 5.07 or Article XI hereof, the
Termination Date shall be the date of such earlier termination.

     “Test Period” shall mean each period of four (4) consecutive fiscal quarters of the Parent or
the Borrower, as applicable, in each case taken as one accounting period ended after the
Restatement Effective Date.

     “Total Rate of Return Swap” shall mean a bilateral financial contract between a total rate of
return payer (the legal owner of the reference asset) and a total rate of return receiver where the
total rate of return payer pays the total return of a reference asset and receives a specified
fixed or floating cash flow from the total rate of return receiver.

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     “Total Reserved Letter of Credit Amount” shall mean, as of any date of determination, the sum
of all Reserved Letter of Credit Amounts applicable to all Letters of Credit then outstanding.

     “Total Revolving Loan Commitments” shall mean, as of any date of determination, the sum of the
Commitments of each of the Banks, subject to reduction from time to time as provided in this
Agreement. As of the Restatement Effective Date, the Total Revolving Loan Commitments is Five
Hundred Million Dollars ($500,000,000).

     “2003 Senior Notes” shall mean the senior notes of the Parent issued on May 19, 2003, pursuant
to the 2003 Senior Notes Indenture, in an original aggregate principal amount of Three Hundred
Million Dollars ($300,000,000), together with any notes evidencing any Indebtedness incurred in
connection with the refinancing of such senior notes in accordance with the terms of this Agreement
and the Guaranty to the extent the proceeds of such Indebtedness are applied to the Retirement of
such senior notes.

     “2003 Senior Notes Indenture” shall mean the indenture dated as of May 19, 2003, between the
Parent and The Bank of New York Mellon (formerly known as The Bank of New York), as indenture
trustee and relating to the Senior Notes, together with any indenture relating to new notes which
refinance any of the Senior Notes in accordance with the terms of this Agreement and the Guaranty.

     “2004 Senior Notes” shall mean the senior notes of the Parent issued on February 10, 2004,
pursuant to the 2003 Senior Notes Indenture, in an aggregate principal amount of up to One Hundred
Million Dollars ($100,000,000), together with any notes evidencing any Indebtedness incurred in
connection with the refinancing of such senior notes in accordance with the terms of this Agreement
and the Guaranty to the extent the proceeds of such Indebtedness are applied to the Retirement of
such senior notes.

     “2005 Senior Notes” shall mean the senior notes of the Parent issued on or about January 25,
2005, pursuant to the 2003 Senior Notes Indenture, in an original aggregate principal amount of up
to One Hundred Fifty Million Dollars ($150,000,000), together with any notes evidencing any
Indebtedness incurred in connection with the refinancing of such senior notes in accordance with
the terms of this Agreement and the Guaranty to the extent the proceeds of such Indebtedness are
applied to the Retirement of such senior notes.

     “2006 Puttable Senior Notes” shall mean the puttable equity-linked senior notes of the Parent
issued on or about October 10, 2006, pursuant to the 2006 Puttable Senior Notes Indenture, in an
original aggregate principal amount of up to Two Hundred Eighty Seven Million Five Hundred Thousand
Dollars ($287,500,000), together with any notes evidencing any Indebtedness incurred in connection
with the refinancing of such senior notes in accordance with the terms of this Agreement and the
Guaranty to the extent the proceeds of such Indebtedness are applied to the Retirement of such
senior notes.

     “2006 Puttable Senior Notes Indenture” shall mean the indenture dated as of October 10, 2006,
between the Parent and The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank
of New York Trust Company, N.A.), as indenture trustee, relating

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to the 2006 Puttable Senior Notes, together with any indenture relating to new notes which
refinance any of the 2006 Puttable Senior Notes in accordance with the terms of this Agreement and
the Guaranty.

     “2007 Credit Agreement” shall have the meaning set forth in the recitals hereto.

     “2009 Convertible Senior Notes” shall mean the convertible equity senior notes of the Parent
issued on or about October 26, 2009, pursuant to the 2009 Convertible Senior Notes Indenture,
subject to the terms of Section 8.16(b) hereof and Section 9.10(h)(ix) of the Guaranty, in an
original aggregate principal amount of Two Hundred Million Dollars ($200,000,000), together with
any notes evidencing any Indebtedness incurred in connection with the refinancing of such senior
notes in accordance with the terms of this Agreement and the Guaranty to the extent the proceeds of
such Indebtedness are applied to the Retirement of such senior notes.

     “2009 Convertible Senior Notes Indenture” shall mean the Indenture dated as of October 26,
2009 between the Parent and The Bank of New York Mellon Trust Company, N.A., as indenture trustee,
relating to the 2009 Convertible Senior Notes, such Indenture to be subject to the terms of Section
8.16(b) hereof and Section 9.10(h)(ix) of the Guaranty, together with any indenture relating to new
notes which refinance any of the 2009 Convertible Senior Notes in accordance with the terms of this
Agreement and the Guaranty.

     “2009 Puttable Senior Notes” shall mean the puttable equity senior notes of the Parent issued
on or about October 7, 2009, pursuant to the 2009 Puttable Senior Notes Indenture, subject to the
terms of Section 8.16(b) hereof and Section 9.10(h)(vii) of the Guaranty in an original aggregate
principal amount of Two Hundred Million Dollars ($200,000,000), together with any notes evidencing
any Indebtedness incurred in connection with the refinancing of such senior notes in accordance
with the terms of this Agreement and the Guaranty to the extent the proceeds of such Indebtedness
are applied to the Retirement of such senior notes.

     “2009 Puttable Senior Notes Indenture” shall mean the Indenture dated as of October 7, 2009
between the Parent and The Bank of New York Mellon Trust Company, N.A., as indenture trustee,
relating to the 2009 Puttable Senior Notes, such Indenture to be subject to the terms of Section
8.16(b) hereof and Section 9.10(h)(vii) of the Guaranty, together with any indenture relating to
new notes which refinance any of the 2009 Puttable Senior Notes in accordance with the terms of
this Agreement and the Guaranty.

     “Unfunded Current Liabilities” of any Plan shall mean the amount, if any, by which the
actuarial present value of the accumulated plan benefits under such Plan as of the close of its
most recent plan year, determined in accordance with Statement of Financial Accounting Standards
No. 35, based upon the actuarial assumptions used by such Plan’s actuary in the most recent annual
valuation of the Plan, exceeds the fair market value of the assets allocable thereto, determined in
accordance with Section 412 of the Code.

     “Unrestricted Cash and Cash Equivalents” shall mean, as of any date of determination, the sum
of (a) the aggregate amount of Unrestricted Cash and (b) the aggregate amount of Unrestricted Cash
Equivalents (valued at fair market value). As used in this definition,

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“Unrestricted” means the specified asset is not subject to any escrow, cash trap, reserve,
Lien, or claim of any kind in favor of any Person.

     “USA Patriot Act” shall mean the Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA Patriot Act).

     “Voting Stock” of any Person shall mean Capital Stock of such Person which ordinarily has
voting power for the election of directors (or persons performing similar functions) of such
Person, whether at all times or only so long as no senior class of securities has such voting power
by reason of any contingency.

     The foregoing definitions shall be applicable to the singular and plurals of the foregoing
defined terms.

Accounting Principles

     Any accounting term not specifically defined in this Article I or elsewhere in this Agreement,
shall have the meaning ascribed thereto by GAAP not inconsistent with the Borrower’s present
accounting procedures, provided, that, if the Borrower notifies the Agent that the Borrower
requests an amendment to any provision hereof to eliminate the effect of any change occurring after
the Restatement Effective Date in GAAP or in the application thereof on the operation of such
provision (or if the Agent notifies the Borrower that the Required Banks request an amendment to
any provision hereof for such purpose), regardless of whether any such notice is given before or
after such change in GAAP or in the application thereof, then such provision shall be interpreted
on the basis of GAAP as in effect and applied immediately before such change shall have become
effective until such notice shall have been withdrawn or such provision amended in accordance
herewith. Notwithstanding the foregoing, the financial statements to be furnished to the Banks
pursuant hereto shall be made and prepared in accordance with GAAP consistently applied throughout
the periods involved (except as set forth in the notes thereto or otherwise disclosed in writing by
the Borrower to the Banks), provided, that (a) all computations determining compliance with
Section 8.13 hereof, including defined terms used therein, shall utilize accounting principles
based on the Pro Rata Consolidation Method as opposed to the full consolidation method of
accounting, (b) all computations determining compliance with Article VIII hereof, including defined
terms used therein, shall exclude interest income received by the Borrower or any of its
Subsidiaries with respect to loans made by the Borrower or such Subsidiary pursuant to Section
8.06(b) and (d) hereof, unless such loans are funded with the proceeds from Revolving Loans or the
Senior Notes and (c) such financial statements must also include a report (in the footnotes thereto
or otherwise) of the financial results of the Borrower using accounting principles based on the Pro
Rata Consolidation Method.

ARTICLE II

REVOLVING LOANS

     The Banks hereby establish a revolving loan facility pursuant to which Revolving Loans will be
made to the Borrower, on and subject to the terms and conditions set forth in this Agreement.

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     SECTION 2.01. AMOUNT OF THE REVOLVING LOAN FACILITY. The aggregate principal amount
of the Revolving Loans (including, without limitation, any Revolving Loans made or deemed made
under Section 3.01(b) hereof) plus the LC Obligations outstanding from time to time
plus the Total Reserved Letter of Credit Amount then in effect plus the Swing Line
Exposure plus the Permitted Non-Affiliate Loan Reserve shall not exceed the Total Revolving
Loan Commitments in effect at the time. No Bank shall be obligated to make any Revolving Loans,
participate in any Letter of Credit or fund any participation in any Letter of Credit or Draw
thereunder or in any Swing Loan, and no Swing Line Lender or Issuing Bank shall be obligated to
make any Swing Loans or issue any Letter of Credit, as applicable, if, after giving effect to such
Revolving Loans, Swing Loans or the related LC Obligations, (a) such Bank’s Pro rata share of all
Revolving Loans, Swing Loans and LC Obligations then outstanding and of the Permitted Non-Affiliate
Loan Reserve would exceed such Bank’s Commitment or (b) the aggregate amount of all Revolving
Loans, Swing Loans and LC Obligations then outstanding plus the Permitted Non-Affiliate
Loan Reserve and the Total Reserved Letter of Credit Amount in effect at the time would exceed the
Total Revolving Loan Commitments in effect at the time.

     SECTION 2.02. REVOLVING LOAN COMMITMENTS. (a) All Revolving Loans under this
Agreement shall be made by the Banks Pro rata on the basis of their Pro rata shares of the Total
Revolving Loan Commitments. It is understood that no Bank shall be responsible for any default by
any other Bank of its obligation to make Revolving Loans hereunder and that each Bank shall be
obligated to make the Revolving Loans to be made by it hereunder, regardless of the failure of any
other Bank to fulfill its commitments hereunder.

     (b) Notwithstanding anything to the contrary contained in this Agreement or any Related
Writing, a portion of the Total Revolving Loan Commitments in the initial amount of One Hundred
Five Million Sixty-Seven Thousand Dollars ($105,067,000) (the “Reserved Commitment”) shall be
reserved for, and drawn and used by the Borrower, subject to the satisfaction of any and all
conditions set forth in Sections 5.01 and 5.03 hereof, solely for purposes of Retiring Indebtedness
of the Parent, the Borrower or the Borrower’s Subsidiaries, as may be approved in writing by the
Required Banks. The amount of the Reserved Commitment shall reduce, dollar-for-dollar, the amount
of the Total Revolving Loan Commitments available for any purpose other than that set forth above
in this Section 2.02(b). In the event the Borrower requests a Revolving Loan from the Reserved
Commitment for the purpose set forth above, the Borrower shall so represent to the Agent and the
Banks in the applicable Notice of Borrowing, shall promptly apply the proceeds of such Revolving
Loan to the Retirement of Indebtedness of the Parent, the Borrower or the Borrower’s Subsidiaries,
as may be approved in writing by the Required Banks and shall, within one (1) Cleveland Banking Day
following the Retirement of such Indebtedness with the proceeds of such Revolving Loan, certify to
the Agent the aggregate principal face amount of such Indebtedness so Retired. Upon receipt of such
certification, the amount of the Reserved Commitment shall be reduced automatically on a
dollar-for-dollar basis commensurate with the aggregate principal face amount of Indebtedness so
Retired. Furthermore, the Reserved Commitment shall also reduce, on a dollar-for-dollar basis, to
the extent any such Indebtedness is refinanced or extended with the Agent’s approval (and/or, in
connection with any such extension, the approval of the Required Banks as required by the Guaranty)
in accordance with the terms and conditions set forth in this Agreement and the Guaranty.

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     SECTION 2.03. REVOLVING LOANS. (a) Each Bank severally agrees, subject to the
fulfillment of the terms and conditions of this Agreement, to make revolving loans (the “Revolving
Loans”) to the Borrower from time to time during the Commitment Period. Subject to the provisions
of this Agreement, Loans may be repaid in whole or in part, and amounts so repaid may be
reborrowed.

     (b) The requesting of a Loan in and of itself pursuant to a Notice of Borrowing constitutes a
representation and warranty by the Borrower to the Banks and the Agents that the conditions
specified in Section 5.01 hereof have been satisfied. Each oral request for a Revolving Loan
(which request shall be promptly confirmed in writing as specified in Section 5.01 hereof) shall be
made by a person authorized by the Borrower to do so and designated on Schedule 2.03 attached
hereto, or as that Schedule may be amended from time to time in writing by the Borrower (each an
“Authorized Fiscal Officer”), and the making of a Revolving Loan as provided herein shall
conclusively establish the Borrower’s obligation to repay such Revolving Loan.

     (c) Immediately prior to the effectiveness of this Agreement, the outstanding principal
balance of “Revolving Loans” under the 2007 Credit Agreement is $298,516,322.50 and shall be deemed
to be, and hereby is converted into, outstanding Revolving Loans hereunder.

     SECTION 2.04. PURPOSE OF THE REVOLVING LOANS. The proceeds of Revolving Loans shall
be used by the Borrower for working capital purposes of the Borrower and for Permitted Uses of Cash
Sources, subject to the limitations set forth in Section 2.02(b) hereof.

     SECTION 2.05. REVOLVING LOAN NOTES. (a) On the Restatement Effective Date, the
Borrower shall execute and deliver to each of the Banks a Revolving Loan Note with all blanks
appropriately completed in conformity herewith.

     (b) The Revolving Loan Note issued to each Bank shall (i) be executed by the Borrower, (ii) be
payable to the order of such Bank and dated as of the Restatement Effective Date (iii) be in a
stated principal amount equal to the Commitment of such Bank and payable in the principal amount of
the Revolving Loans evidenced thereby, (iv) mature on the Termination Date and (v) be entitled to
the benefits of this Agreement and the other Related Writings. The Revolving Loan Notes shall be
subject to the terms of this Agreement.

     (c) All Revolving Loan Notes issued under the 2007 Credit Agreement shall be deemed canceled
as of the Restatement Effective Date and each Person party to the 2007 Credit Agreement in
possession of a Revolving Loan Note issued thereunder shall promptly after the Restatement
Effective Date return such Revolving Loan Note to the Borrower for cancellation.

     SECTION 2.06. REPAYMENT OF THE REVOLVING LOAN NOTES. The principal of the Revolving
Loan Notes evidencing the Revolving Loans shall be due and payable in full on the Termination Date,
unless such principal sums shall become due earlier in whole or in part by reason of the principal
amount exceeding the Total Revolving Loan Commitments at any time in effect or pursuant to the
provisions of Article XI hereof.

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     SECTION 2.07. SWING LOANS. (a) Subject to and upon the terms and conditions of this
Agreement, during the Commitment Period, each Swing Line Lender severally agrees to make a Swing
Loan or Swing Loans to the Borrower in an amount equal to one-half (1/2) of the amount or amounts as
the Borrower may from time to time request; provided, that the Borrower shall not request
any Swing Loan (and the Swing Line Lenders shall not be required to make any Swing Loan in the
event Borrower makes a request therefor) if, after giving effect thereto (i) the aggregate
outstanding principal amount of all Revolving Loans plus the Swing Line Exposure
plus the LC Obligations then outstanding plus the Total Reserved Letter of Credit
Amount then in effect plus the Permitted Non-Affiliate Loan Reserve would exceed the Total
Revolving Loan Commitments then in effect or (ii) the Swing Line Exposure would exceed the lesser
of (x) Twenty-Seven Million Five Hundred Thousand Dollars ($27,500,000) and (y) five and one-half
percent (5.5%) of the Total Revolving Loan Commitments (the “Maximum Swing Line Amount”); and
provided further that such obligation of the Swing Line Lenders shall be contingent
on no Bank being a Delinquent Bank or an Insolvent/Seized Bank (provided that the Swing Line
Lenders may, in their sole discretion, be entitled to waive this condition). Each Swing Loan shall
bear interest based on the Base Rate Option, and shall be due and payable (to the extent not
refinanced as a Revolving Loan as contemplated by Section 2.07(b) hereof) on the Swing Loan
Maturity Date applicable thereto. The Borrower shall not request that more than one (1) Swing Loan
from each Swing Line Lender be outstanding at any time.

     (b) On any Cleveland Banking Day, the Swing Line Lenders may, in their sole discretion, give
notice to the Banks and the Borrower that one or more of their outstanding Swing Loans shall be
refinanced as a Revolving Loan; provided, that (i) the applicable Swing Line Lender shall
give such notice upon the failure of the Borrower to repay a Swing Loan as required by Section
2.07(a) hereof, and such notice shall be deemed to have been automatically given upon the
occurrence of an Event of Default under Section 10.06 or 10.07 hereof or upon the exercise of any
of the remedies provided in Section 11.01(b) or 11.02(b) hereof and (ii) no Swing Line Lender shall
make such request without the other Swing Line Lender joining in such request. Such Revolving Loan
initially shall bear interest based on the Base Rate Option. On the Cleveland Banking Day
immediately following the date such notice has been given (or deemed given), the Borrower shall be
deemed to have requested (the “Mandatory Request”) a Revolving Loan in the aggregate principal
amount of such Swing Loans of each Swing Line Lender in accordance with Section 5.01 hereof (other
than the requirement set forth in Section 5.01(a)(i) hereof). Each Bank agrees to make a Revolving
Loan in an amount equal to its Pro rata share of such Revolving Loan on the date of the Mandatory
Request, subject to no conditions precedent whatsoever. Each Bank acknowledges and irrevocably
agrees that such Bank’s obligation to make a Revolving Loan when required by this Section 2.07(b)
is absolute and unconditional and shall not be affected by any circumstance whatsoever, including
without limitation, the occurrence and continuance of a Possible Default or Event of Default or
whether or not the agreements and conditions of Article V hereof are then satisfied and that its
payment to the Agent, for the respective accounts of the Swing Line Lenders, of the proceeds of
such Revolving Loan shall be made without any offset, abatement, recoupment, counterclaim,
withholding or reduction whatsoever and whether or not such Bank’s Commitment shall have been
reduced or terminated. The Borrower irrevocably authorizes and instructs the Agent to apply the
proceeds of any borrowing pursuant to this Section 2.07(b) to repay in full such Swing Loans.

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     (c) If, for any reason, the Agent is unable to or, in the opinion of the Agent, it is
impracticable to, convert any Swing Loan to a Revolving Loan pursuant to the preceding Section
2.07(b), then on any day that a Swing Loan is outstanding (whether before or after the maturity
thereof), the Agent shall have the right to request that each Bank purchase a participation in such
Swing Loan, and the Agent shall promptly notify each Bank thereof (by facsimile or telephone,
confirmed in writing). Upon such notice, but without further action being necessary or required,
each Swing Line Lender hereby agrees to grant to each Bank and each Bank hereby agrees to acquire
from each Swing Line Lender, an individual participation interest in each Swing Loan in an amount
equal to such Bank’s Pro rata share of the principal amount of such Swing Loan. In consideration
and in furtherance of the foregoing, each Bank hereby absolutely and unconditionally agrees, upon
receipt of notice as provided above, to pay to the Agent, for the benefit of each Swing Line
Lender, such Bank’s Pro rata share of such Swing Loan. Each Bank acknowledges and agrees that its
obligation to acquire participations in Swing Loans pursuant to this Section 2.07(c) is absolute
and unconditional, and shall not be affected by any circumstance whatsoever, including without
limitation, the occurrence and continuance of a Possible Default or Event of Default or whether or
not the agreements and conditions of Article V hereof are then satisfied and that each such payment
shall be made without any offset, abatement, recoupment, counterclaim, withholding or reduction
whatsoever and whether or not such Bank’s Commitment shall have been reduced or terminated. Each
Bank shall comply with its obligation under this Section 2.07(c) by wire transfer of immediately
available funds, in the same manner as provided in Section 5.02 hereof with respect to Revolving
Loans to be made by such Bank.

     (d) On the Restatement Effective Date, the Borrower shall execute and deliver to each Swing
Line Lender, a Swing Line Note with all blanks appropriately completed in conformity herewith. The
Swing Line Note issued to each Swing Line Lender shall (i) be executed by the Borrower, (ii) be
payable to the order of such Swing Line Lender and dated as of the Restatement Effective Date,
(iii) be in a stated principal amount of Thirteen Million Seven Hundred Fifty Thousand Dollars
($13,750,000) and payable in the principal amount of the Swing Loans evidenced thereby and (iv) be
entitled to the benefits of this Agreement and the Related Writings. The Swing Line Notes shall be
subject to the terms of this Agreement.

     (e) The proceeds of Swing Loans shall be used by the Borrower for general working capital
purposes of the Borrower and Permitted Uses of Cash Sources only, and the Borrower shall not use
the proceeds of any Swing Loan to repay or refinance any outstanding Swing Loan.

     (f) All Swing Loans outstanding under the 2007 Credit Agreement that remain unpaid on the
Restatement Effective Date shall be paid in full on the Restatement Effective Date.

     (g) All Swing Line Notes issued under the 2007 Credit Agreement shall be deemed canceled as of
the Restatement Effective Date and each Person party to the 2007 Credit Agreement in possession of
a Swing Line Note issued thereunder shall promptly after the Restatement Effective Date return such
Swing Line Note to the Borrower for cancellation.

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ARTICLE III

LETTERS OF CREDIT

     SECTION 3.01. LETTERS OF CREDIT. (a) During the period beginning on the Restatement
Effective Date and ending on the date that is thirty (30) days prior to the Termination Date, the
Issuing Banks agree to issue Letters of Credit up to an aggregate amount at any one time
outstanding equal to (i) the lesser of (A) One Hundred Million Dollars ($100,000,000) and (B)
twenty percent (20%) of the Total Revolving Loan Commitments then in effect minus (ii) the
aggregate principal amount of all then outstanding Surety Bonds issued by a Surety on behalf of the
Parent pursuant to an Indemnity Agreement (the “Maximum Letter of Credit Amount”). The
availability of Letters of Credit will be subject to (i) the applicable Issuing Bank being
satisfied with the terms of the Letter of Credit to be issued, (ii) the Borrower’s executing and
delivering such letter of credit and reimbursement agreements and related documents as required by
the applicable Issuing Bank, and (iii) the satisfaction of all conditions to the Borrower obtaining
a Loan in the amount of the requested Letter of Credit. The Borrower shall pay a fee for each
Letter of Credit to the Agent for the pro rata benefit of the Banks, upon issuance of such Letter
of Credit and, thereafter, upon the quarter-annual anniversary of the issuance of such Letter of
Credit remaining outstanding, in the amount of the Indicated Spread for Revolving Loans under the
LIBOR Rate Option on the stated amount of such Letter of Credit; provided that, the
applicable Issuing Bank shall be entitled to a fee equal to one-eighth of one percent (0.125%) of
the amount available to be drawn under each such Letter of Credit prior to the distribution of the
balance of such fee to the Banks based on their Pro rata shares. In addition, the Borrower shall
pay to the applicable Issuing Bank upon issuance of each Letter of Credit provided for under this
Section 3.01 an issuance fee of Five Hundred Dollars ($500) for such Issuing Bank’s services in
issuing such Letter of Credit. No Letter of Credit shall be issued having an expiration date later
than one (1) year following the date of its issuance; provided that at the option of the
applicable Issuing Bank, any such Letter of Credit may contain renewal options; and
provided further that no Letter of Credit shall have an expiration date (including
any renewals) after the Termination Date. All Letters of Credit shall be in such form and
substance as the applicable Issuing Bank, the Agent (to the extent the Agent is not also the
applicable Issuing Bank) and the Borrower agree. The Borrower shall not be entitled to obtain
Letters of Credit from any Issuing Bank unless the Borrower is then entitled to obtain Loans from
the Banks in an amount not less than the stated amount of the Letter of Credit requested, the other
conditions of Section 5.03 hereof have been satisfied as if the Borrower were obtaining a Revolving
Loan and the Borrower has executed and delivered such letter of credit, reimbursement agreements
and other related documents as may be required by the applicable Issuing Bank.

     (b) In the event any Issuing Bank pays any amount under or on account of a Letter of Credit
(the payment by any Issuing Bank under or on account of a Letter of Credit being herein called a
“Draw”), a Revolving Loan shall be deemed to be made to the Borrower by each Bank (irrespective of
whether all conditions precedent to the making of such Revolving Loan are satisfied at the time
such Revolving Loan shall be deemed to be made) to the extent of its Pro rata share of the Total
Revolving Loan Commitments to reimburse immediately such Issuing Bank for the amount of the Draw.
The Agent, on behalf of such Issuing Bank, shall notify each Bank of the occurrence and payment of
a Draw no later than 12:00 p.m. (Cleveland time) on the date of such notice and, not later than
1:00 p.m. (Cleveland time) on the date of such notice, each

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Bank will make available to the Agent for the account of such Issuing Bank its Pro rata
portion of the Draw deemed to be a Revolving Loan. All amounts shall be made available to the
Agent for the account of the applicable Issuing Bank in U.S. dollars and immediately available
funds at the Agent’s office listed on the signature pages hereto. If such corresponding Pro rata
amount is not in fact made available to the Agent by such Bank the Agent, for the account of the
applicable Issuing Bank, shall be entitled to recover such corresponding amount from such Bank. If
such Bank does not pay such corresponding amount forthwith upon the Agent’s demand therefor, the
Agent, on behalf of such Issuing Bank, shall promptly notify the Borrower, and the Borrower shall
immediately pay such corresponding amount to the Agent for the account of the applicable Issuing
Bank. The Agent, on behalf of the applicable Issuing Bank, shall also be entitled to recover from
the Bank or the Borrower, as the case may be, interest on such corresponding amount in respect of
each day from the date such corresponding amount was paid by such Issuing Bank to the date such
corresponding amount is recovered by the Agent for the account of such Issuing Bank at a rate per
annum equal to (i) if paid by such Bank, the overnight Federal Funds Effective Rate or (ii) if paid
by the Borrower, the rate of interest then applicable to Revolving Loans subject to the Base Rate
Option, calculated in accordance with Article IV hereof. In the event any Bank fails to make
available to the Agent its Pro rata share of any Revolving Loan deemed made in connection with any
Draw under any Letter of Credit as required above, each such Bank severally agrees to purchase from
the applicable Issuing Bank a participation in such Draw in an amount equal to such Pro rata
amount; provided, however, that no Bank shall be required to purchase a
participation in any Draw (or fund its Pro rata share of any Revolving Loan in respect of any Draw)
to the extent that its participation therein (or its Pro rata share of any Revolving Loan) plus (x)
such Bank’s participation in the aggregate of all other Letters of Credit and outstanding Swing
Loans, (y) such Bank’s Pro rata share of the amount of any Revolving Loans and all outstanding
Swing Loans (including any amounts drawn under any Letters of Credit and not yet reimbursed by the
Borrower) and (z) such Bank’s Pro rata share of the Permitted Non-Affiliate Loan Reserve, would
exceed such Bank’s Commitment as then in effect. Each Bank agrees with the Agent that it will
purchase a participation in each Draw to the extent required by the preceding sentence. No Bank’s
obligation to purchase a participation in any Draw shall be affected by any other Bank’s failure to
purchase a participation in the same or any other Draw. In the event no Revolving Loan or only a
partial Revolving Loan is deemed to be made, or the purchase of a participation in the applicable
Draw has not been effected as required above, the applicable Issuing Bank is hereby authorized to
charge (without prior notice to the Borrower but with the prior consent of the Agent) the amount of
such unfunded Draw, together with interest thereon, against any account of the Borrower maintained
with such Issuing Bank.

     (c) So long as one or more Letters of Credit are outstanding, the amount of Loans that the
Borrower is entitled to obtain under Article II hereof and of Letters of Credit that can be issued
pursuant to this Section 3.01 shall be reduced by an amount equal to the LC Obligations then
outstanding plus the Total Reserved Letter of Credit Amount then in effect.

     (d) Whenever the Borrower desires that a Letter of Credit be issued, the Borrower shall give
the applicable Issuing Bank and the Agent written notice (including by way of facsimile
transmission) thereof prior to 1:00 p.m. (Cleveland time) at least five (5) Cleveland Banking Days
(or such shorter period as may be acceptable to the Agent and such Issuing Bank) prior to the
proposed date of issuance (which shall be a Cleveland Banking Day), which written

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notice shall be in the form of Exhibit E hereto (each, a “Letter of Credit Request”). Each
Letter of Credit Request shall include an application for such Letter of Credit and any other
documents that the applicable Issuing Bank customarily requires in connection therewith. The
applicable Issuing Bank shall promptly notify each Bank of each Letter of Credit Request.

     (e) The delivery of each Letter of Credit Request shall be deemed a representation and
warranty by the Borrower that such Letter of Credit as requested in such Letter of Credit Request
may be issued in accordance with and will not violate the requirements of this Section 3.01 and
shall include a representation and warranty as to the aggregate principal amount of all then
outstanding Surety Bonds. The applicable Issuing Bank shall, on the date of each issuance of or
amendment or modification to a Letter of Credit by it, give each Bank and the Borrower written
notice of the issuance of or amendment or modification to such Letter of Credit and shall promptly
provide to each Bank a copy of such Letter of Credit or amendment or modification.

     (f) In determining whether to pay under any Letter of Credit, the applicable Issuing Bank
shall not have any obligation relative to the Banks other than to determine that any documents
required to be delivered under such Letter of Credit have been delivered and that they appear to
comply on their face with the requirements of such Letter of Credit. Any action taken or omitted
to be taken by any Issuing Bank with respect to a Letter of Credit issued by it if taken or omitted
in the absence of gross negligence or willful misconduct, shall not create any resulting liability
for such Issuing Bank.

     (g) Immediately prior to the effectiveness of this Agreement, the outstanding letters of
credit issued under the 2007 Credit Agreement are as listed on Exhibit C attached hereto and such
letters of credit shall be deemed to be, and hereby are converted into, outstanding Letters of
Credit hereunder.

     (h) In the event and to the extent the aggregate LC Obligations plus the Total
Reserved Letter of Credit Amount then in effect exceeds the Maximum Letter of Credit Amount, the
Borrower will promptly deposit with and pledge to the Agent, for the benefit of the Banks, Cash in
an amount equal to such excess, which Cash shall be held in a segregated interest bearing account.
Such amounts will be pledged to and held by the Agent for the benefit of the Banks as security for
any amounts that become payable under any Letters of Credit. Upon any Draw under any Letter of
Credit which causes the aggregate amount of unreimbursed drawings under all Letters of Credit
plus all other LC Obligations plus the Total Reserved Letter of Credit Amount then
in effect to exceed the Maximum Letter of Credit Amount, Agent may (and shall, at the direction of
the Required Banks) apply any such amounts of Cash collateral to the repayment of such unreimbursed
amount. To the extent the amount by which the aggregate LC Obligations plus the Total
Reserved Letter of Credit Amount then in effect exceeds the Maximum Letter of Credit Amount is
reduced, the Agent shall return an amount of such Cash to the Borrower equal to such reduction and
shall return all remaining Cash, if any, in such account to the Borrower in the event such
aggregate LC Obligations plus the Total Reserved Letter of Credit Amount then in effect no
longer exceeds the Maximum Letter of Credit Amount.

     (i) Whenever the Agent for the account of an Issuing Bank receives a reimbursement payment
from the Borrower on account of an amount drawn under a Letter of Credit, as to which

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the Banks have funded a Revolving Loan or such Issuing Bank has received for its own account
any payment to acquire a participation interest therein from the Banks pursuant to Section
3.01(b) hereof, then the Agent shall promptly pay to each Bank which has funded a Revolving Loan or
its participation in such amount drawn, as the case may be, in accordance with this Section 3.01,
in U.S. dollars and in the kind of funds so received, such Bank’s Pro rata share of such
reimbursement payment of such Letter of Credit. If any payment received by an Issuing Bank (or by
the Agent for the account of the Issuing Bank) and paid to the Banks entitled thereto pursuant to
this Section 3.01(i) in respect of principal or interest on any reimbursement obligation with
respect to a Letter of Credit is required to be returned by such Issuing Bank (including pursuant
to any settlement entered into by such Issuing Bank in its discretion), each Bank that has funded a
Revolving Loan or participation in the applicable Draw as contemplated by this Section 3.01 shall
pay to such Issuing Bank its Pro rata portion thereof on demand of the Agent, plus interest thereon
from the date of such demand to the date such amount is returned, at a rate per annum equal to the
Federal Funds Effective Rate. The Agent will make such demand upon the request of the applicable
Issuing Bank. The obligations of the Banks under this Section 3.01(i) shall survive the payment in
full of the Debt and the termination of this Agreement.

     (j) The obligations of the Borrower to the Issuing Banks and the Banks under this Agreement
with respect to Letters of Credit shall be absolute, unconditional and irrevocable, and shall be
paid and performed strictly in accordance with the terms of this Agreement, under all circumstances
whatsoever, including, without limitation, the following circumstances: (i) any improper use which
may be made of any Letter of Credit or any improper acts or omissions of any beneficiary or
transferee of any Letter of Credit in connection therewith; (ii) the existence of any claim,
set-off, defense or right which the Borrower may have at any time against any beneficiary or any
transferee of any Letter of Credit (or Person(s) for whom any such beneficiary or any such
transferee may be acting), any Issuing Bank or the Banks (other than the defense of payment to the
applicable Issuing Bank or the Banks in accordance with the terms of this Agreement) or any other
Person, whether in connection with any Letter of Credit, this Agreement, any Related Writing, or
any unrelated transaction; (iii) any statement or any other documents presented under any Letter of
Credit proving to be insufficient, forged, fraudulent or invalid in any respect or any statement
therein being untrue or inaccurate in any respect whatsoever, provided that the applicable Issuing
Bank shall not have been grossly negligent or acted with willful misconduct in connection
therewith; (iv) any breach of any agreement between the Borrower and any beneficiary or transferee
of any Letter of Credit; (v) any irregularity in the transaction with respect to which any Letter
of Credit is issued, including any fraud by the beneficiary or any transferee of such Letter of
Credit; (vi) payment by the applicable Issuing Bank under any Letter of Credit against presentation
of a sight draft or a certificate which does not comply with the terms of such Letter of Credit,
provided that such payment shall not have constituted gross negligence or willful misconduct on the
part of such Issuing Bank, and (vii) any other circumstance or happening whatsoever, whether or not
similar to any of the foregoing, provided that such other circumstances or happenings shall not
have been the result of gross negligence or willful misconduct on the part of the applicable
Issuing Bank.

     (k) As between (x) the Borrower and (y) the Agent, the Issuing Banks and the Banks, the
Borrower assumes all risks of the acts and omissions of, or misuse of the Letters of Credit issued
by an Issuing Bank by, the respective beneficiaries of such Letters of Credit. In furtherance and
not in limitation of the foregoing, none of the Agent, any Issuing Bank or any

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Bank shall be responsible: (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 such 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 validity or sufficiency of
any instrument transferring or assigning or purporting to transfer or assign any Letter of Credit
or the right 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 any Letter of Credit
to comply fully 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 otherwise, whether or not they be in cipher; (v) for errors in
interpretation of technical 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 any 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, any Issuing Bank or any Bank including, without limitation, any
Government Acts; provided, however, that each Issuing Bank will be responsible for
grossly negligent actions or willful misconduct on its part. None of the above shall affect,
impair, or prevent the vesting of any of the Agent’s, any Issuing Bank’s or any Bank’s rights or
powers hereunder. Notwithstanding anything in the foregoing to the contrary, an Issuing Bank will
be liable to the Borrower for any damages suffered by the Borrower or its Subsidiaries as a result
of such Issuing Bank’s grossly negligent or willful failure to pay under any Letter of Credit after
the presentation to it of a sight draft and certificates strictly in compliance with the terms and
conditions of such Letter of Credit (other than as a result of any order of any court).

     (l) If, after the issuance of a Letter of Credit, but prior to the funding of any Draw
thereunder by a Bank, for any reason such Draw cannot be refinanced as a Revolving Loan, each Bank
will, on the date such Revolving Loan pursuant to Section 3.01(b) was to have been made, purchase
an undivided Pro rata participating interest in such Draw and will immediately transfer to the
Agent for the account of the applicable Issuing Bank in immediately available funds the amount of
its Pro rata share of such Draw and upon receipt thereof such Issuing Bank will deliver to such
Bank a Letter of Credit participation certificate dated the date of receipt of such funds and in
such amount.

     (m) In addition to amounts payable as elsewhere provided in this Section 3.01, the Borrower
hereby agrees to pay, and to protect, indemnify and save harmless the Agent and the Banks from and
against, any and all claims, demands, liabilities, damages, losses, costs, charges and expenses
(including reasonable attorneys’ fees and allocated costs of internal counsel) which the Agent and
the Banks may incur or be subject to as a consequence, direct or indirect, of (i) the issuance of
or participations in the Letters of Credit, other than as a result of the gross negligence or
willful misconduct of the Agent or any Bank as determined in a final, non-appealable judgment by a
court of competent jurisdiction, or (ii) the failure of the Issuing Bank to honor a drawing under
any Letter of Credit as a result of any act or omission, whether rightful or wrongful, of any
present or future government or governmental authority (all such acts or omissions herein called
“Government Acts”), unless the Government Act in question results solely from the gross negligence
or willful misconduct of the Agent or any Bank as determined in a final, non-appealable judgment by
a court of competent jurisdiction. The obligations of the

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Borrower under this Section 3.01(m) shall survive the payment in full of the Debt and the termination of this Agreement.

     (n) Notwithstanding anything to the contrary contained in this Agreement regarding Letters of
Credit, the following provisions shall control:

     (i) with respect to any Letter of Credit to be issued when any Bank is a Delinquent
Bank or an Insolvent/Seized Bank, the face or stated amount of such Letter of Credit shall
be equal to the face or stated amount of such Letter of Credit requested in the applicable
Letter of Credit Request (the “Requested Letter of Credit Amount”) less an amount
equal to the Pro rata share of such requested Letter of Credit attributable to each then
Delinquent Bank and Insolvent/Seized Bank (the collective Pro rata shares of such requested
Letter of Credit so attributable to such Delinquent Bank(s) and/or Insolvent/Seized Bank(s),
the “Reserved Letter of Credit Amount”);

     (ii) the Total Revolving Loan Commitments and the Maximum Letter of Credit Amount
available under this Agreement at any time shall be (x) deemed immediately utilized for
purposes of Sections 2.01 and 2.07 hereof and this Section 3.01 by an amount equal to the LC
Obligations with respect to all Letters of Credit issued and outstanding plus the
Total Reserved Letter of Credit Amount then in effect with respect to all such issued and
outstanding Letters of Credit, thereby reducing the credit available under this Agreement
and (y) deemed immediately available, at the time any Bank which was a Delinquent Bank or an
Insolvent/Seized Bank at the time any Letter of Credit was issued ceases to be a Delinquent
Bank or an Insolvent/Seized Bank, in an amount equal to the portion of the Reserved Letter
of Credit Amount attributable to such Bank with respect to each issued and outstanding
Letter of Credit (it being understood and agreed that effective with any such increase, the
Total Reserved Letter of Credit Amount shall be decreased by a corresponding amount);

     (iii) in the event of any Draw under a Letter of Credit with respect to which there is
a Reserved Letter of Credit Amount, (x) subject to clause (v) below, the last sentence of
Section 2.01 hereof and the proviso contained in the seventh sentence of Section 3.01(b),
each Bank that was neither a Delinquent Bank nor an Insolvent/Seized Bank at the time such
Letter of Credit was issued shall fund its Pro rata share of the full amount of any
Revolving Loan deemed to have been made to the Borrower or purchase its undivided Pro rata
participating interest in such Draw; provided that for purposes of calculating each
such Bank’s Pro rata share of any such deemed Revolving Loan or participating interest, the
unpaid principal amounts owing to, or, if no principal is then owing to any Bank, the
Commitments of, each then Delinquent Bank or Insolvent/Seized Bank, if any, shall not be
included in such calculation such that the Banks that are at the time of such funding
neither a Delinquent Bank nor an Insolvent/Seized Bank fund one hundred percent (100%) of
each such Revolving Loan or purchase one hundred percent (100%) of the participation
interests in such Draw and (y) (A) a Revolving Loan shall not be deemed to be made to the
Borrower by any Bank that was a Delinquent Bank or an Insolvent/Seized Bank at the time such
Letter of Credit was issued for purposes of reimbursing the applicable Issuing Bank, (B) the
Agent shall not make a demand upon any such Delinquent Bank or Insolvent/Seized Bank for the
same or be entitled to recover

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a corresponding amount from any such Delinquent Bank or
Insolvent/Seized Bank, (C) the Borrower shall have no obligation to pay such corresponding
amount to the Agent for the account of the applicable Issuing Bank (provided that, for the
avoidance of doubt, this clause (C) shall not limit or be interpreted to limit any obligation the Borrower
otherwise has to pay any amounts in respect of any Draw as provided in Section 3.01(b)
hereof or with respect to any amount in respect of a Letter of Credit which is not funded by
a Bank which is not a Delinquent Bank or an Insolvent/Seized Bank at the time such Letter of
Credit was issued) and (D) other than as required by clause (v) below, upon any Bank ceasing
to be a Delinquent Bank or an Insolvent/Seized Bank, no Bank that was a Delinquent Bank or
an Insolvent/Seized Bank at the time such Letter of Credit was issued shall be required to
purchase an undivided Pro rata participating interest in such Draw in lieu of funding any
such deemed Revolving Loan;

     (iv) any Letter of Credit fee payable by the Borrower to or for the account of the
Banks under Section 3.01(a) hereof in connection with any Letter of Credit with respect to
which there is a Reserved Letter of Credit Amount shall be payable only to or for the
account of each Bank which is neither a Delinquent Bank nor an Insolvent/Seized Bank at the
time such Letter of Credit is issued, subject to clause (v) below;

     (v) in the event any Bank that was a Delinquent Bank or an Insolvent/Seized Bank at the
time any Letter of Credit was issued thereafter ceases to be a Delinquent Bank or an
Insolvent/Seized Bank, such Bank shall (x) subject to the proviso contained in the seventh
sentence of Section 3.01(b) hereof, immediately and automatically be deemed to have
purchased an undivided Pro rata participating interest in each Draw under such Letter of
Credit that is then outstanding without any further action on the part of such Bank (other
than making any required payment in connection with each such purchase), the Agent or any
Issuing Bank, and the Agent and each applicable Issuing Bank shall simultaneously therewith
make such adjustments to the interests of each Bank that is neither a Delinquent Bank nor an
Insolvent/Seized Bank in respect of each such Letter of Credit as shall be necessary to
reflect the purchase of such participation interest by such Bank, (y) be required to fund
its Pro rata share (calculated in a manner consistent with the proviso contained in clause
(iii) above) of Revolving Loans deemed to have been made or purchase its Pro rata share of
participating interests in Draws under such Letter of Credit in order to reimburse the
applicable Issuing Bank(s) for any Draws thereunder and (z) shall thereafter be entitled to
receive (and be obligated to return, as may be required by Section 3.01(i) hereof) its Pro
rata share (calculated in a manner consistent with the proviso contained in clause (iii)
above) of any fees payable or reimbursements made in respect of such Letters of Credit by
the Borrower; and

     (vi) any reimbursement or principal payments made by the Borrower shall be (x)
allocated first to repay those Banks that have funded Revolving Loans deemed to have been
made as a result of a Draw under a Letter of Credit with respect to which there is a
Reserved Letter of Credit Amount or that have purchased a participating interest in any Draw
under such Letter of Credit for purposes of reimbursing an Issuing Bank with respect to such
Draw under such Letter of Credit and (y) applied to obligations in respect of such Letters
of Credit in the order of the longest outstanding Draw(s) to the most recent Draw(s).

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ARTICLE IV

INTEREST ON THE REVOLVING LOANS

     SECTION 4.01. INTEREST OPTIONS; INDICATED SPREAD. (a) The Borrower shall pay interest
on the Revolving Loans at the rates in effect from time to time pursuant to the Interest Options
provided for in Sections 4.01(b) and 4.01(c) hereof as selected by the Borrower or otherwise in
effect from time to time in accordance with the terms and conditions of this Agreement. Interest
on the Revolving Loans shall accrue from and including the date of borrowing thereof to but
excluding the date of repayment thereof.

     (b) Interest on the principal amount of each Revolving Loan at any time subject to the
interest rate option provided for pursuant to this Section 4.01(b) (the “LIBOR Rate Option”) shall
be at a rate determined by adding the applicable LIBOR rate at the time in effect for each Interest
Period for such Revolving Loan and the applicable Indicated Spread for the LIBOR Rate Option set
forth in Section 4.01(d) below. The LIBOR Rate Option shall be in effect for all portions of the
principal of the Revolving Loans for which the Borrower has selected an Interest Period in
accordance with Section 4.02 hereof, unless and until any event or circumstance provided for in
Section 4.09 or 4.10 hereof shall have occurred and continue to be in effect or an Event of Default
has occurred and is continuing.

     (c) Interest on the principal amount of all Revolving Loans at any time subject to the
interest rate option provided for pursuant to this Section 4.01(c) (the “Base Rate Option”) shall
be at rates determined by adding the Base Rate in effect from time to time and the applicable
Indicated Spread for the Base Rate Option set forth in Section 4.01(d) below. The interest rate in
effect under the Base Rate Option shall change automatically and immediately with each change in
the Base Rate. The Base Rate Option shall be in effect for all portions of the principal of the
Revolving Loans for which the LIBOR Rate Option is not in effect at any time.

     (d) The Indicated Spread is measured in basis points and shall be zero (0) basis points for
the Base Rate Option and three hundred seventy-five (375) basis points for the LIBOR Rate Option.

     SECTION 4.02. INTEREST PERIODS. The Borrower shall have the option to select and
advise the Agent of the Interest Periods the Borrower has selected for Revolving Loans not less
than three (3) Cleveland Banking Days prior to (a) the Restatement Effective Date, for the
Revolving Loans to be made on the Restatement Effective Date, (b) each Interest Adjustment Date,
(c) the date any Revolving Loans are to be made subsequent to the Restatement Effective Date, and
(d) any date on which the Borrower desires to have any portion of the principal of the Revolving
Loans not subject to the LIBOR Rate Option become subject to the LIBOR Rate Option,
provided, that Revolving Loans subject to the Base Rate Option may not be converted into
Revolving Loans subject to the LIBOR Rate Option and Revolving Loans subject to the LIBOR Rate
Option may not be continued as Revolving Loans subject to the LIBOR Rate Option if an Event of
Default is in existence on the date of such conversion or continuation. Each Interest Period
selected shall apply to not less than Five Hundred Thousand Dollars ($500,000) in principal amount
of the Revolving Loans; provided, that at no time shall there be more than ten (10)
Revolving Loans outstanding at any time, whether subject to the Base Rate Option or the LIBOR Rate
Option. The principal amount subject to each Interest

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Period shall be deemed distributed among the Banks, based on their Pro rata shares, with
respect to the respective Revolving Loans to which such Interest Period applies. If the Borrower
fails to timely select any Interest Period, the Borrower shall be deemed to have elected to
continue such Loan as a Loan subject to the LIBOR Rate Option with a one (1) month Interest Period,
effective as of the expiration date of such current Interest Period.

     SECTION 4.03. INTEREST PAYMENT DATES. (a) Interest on all Revolving Loans subject to
the LIBOR Rate Option shall be payable on the earliest of (i) in arrears on the first Cleveland
Banking Day of each month, (ii) any prepayment or conversion (on the amount prepaid or converted),
(iii) maturity (whether by acceleration or otherwise) and/or (iv) after such maturity, on demand.

     (b) Interest on all Revolving Loans subject to the Base Rate Option shall be payable on the
earliest of (i) in arrears on the first Cleveland Banking Day of each month, (ii) any prepayment or
conversion (on the amount prepaid or converted), (iii) maturity (whether by acceleration or
otherwise) and/or (iv) after such maturity, on demand.

     (c) Interest that shall have accrued under the 2007 Credit Agreement and remains unpaid on the
Restatement Effective Date shall be paid in full on the Restatement Effective Date.

     SECTION 4.04. INTEREST CALCULATIONS. All interest shall be computed on the basis of a
three hundred sixty (360) day year for the actual number of days elapsed. Interest shall in all
events continue to accrue in accordance with the provisions of this Agreement until the time
payment in full is received.

     SECTION 4.05. POST-DEFAULT RATE. After the occurrence and during the continuation of
any Event of Default, the Loans and any interest on the Loans not paid when due shall bear interest
at a rate equal to the rate applicable to Revolving Loans subject to the Base Rate Option plus two
percent (2%) per annum, and all such interest shall be due on demand. No interest shall accrue on
any interest that is being charged with respect to any interest not paid when due.

     SECTION 4.06. RESERVES OR DEPOSIT REQUIREMENTS, ETC. If at any time any law, treaty,
regulation (including, without limitation, Regulation D of the Board of Governors of the Federal
Reserve System), governmental rule or order (whether or not having force of law) or the
interpretation or administration thereof by any governmental authority charged with the
administration thereof or any central bank or other fiscal, monetary or other authority shall
impose, modify or deem applicable any reserve and/or special deposit requirement against assets
held by, or deposits in or for the account of any Loans made or Letters of Credit issued or
participated in by any Bank, and the result of the foregoing is to increase the cost (whether by
incurring a cost or adding to a cost) to such Bank of making, issuing, participating in or
maintaining Loans or Letters of Credit hereunder or to reduce the amount of principal or interest
or other amount received by such Bank with respect to such Loans or Letters of Credit, then upon
demand by such Bank the Borrower shall pay to such Bank from time to time on each interest payment
date with respect to such Loans or promptly upon demand with respect to any amounts relating to
Letters of Credit, as additional consideration hereunder, additional amounts sufficient to fully
compensate and indemnify such Bank for such increased

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cost or reduced amount, assuming (which assumption such Bank need not corroborate) such
additional cost or reduced amount were allocable to such Loans or Letters of Credit, as the case
may be. A statement as to the increased cost or reduced amount as a result of any event mentioned
in this Section 4.06, setting forth the calculations therefor, shall be submitted by such Bank to
the Borrower not later than one hundred fifty (150) days after the events giving rise to the same
occurred and shall, in the absence of manifest error, be conclusive and binding as to the amount
thereof. Notwithstanding any other provision of this Agreement, after any such demand for
compensation by any Bank, the Borrower, upon at least one (1) but no more than thirty (30)
Cleveland Banking Days’ prior written notice to such Bank through the Agent, may prepay all Loans
(together with all accrued interest, fees and other amounts payable thereon or with respect
thereto) of such Bank in full regardless of the Interest Period of any thereof and following such
prepayment, the Total Revolving Loan Commitments shall be permanently reduced by the amount of the
Commitments of the Bank(s) whose Loans is/are so prepaid, and the remaining Banks’ Pro rata portion
of the Total Revolving Loan Commitments following such prepayment shall be adjusted based on the
percentage that each remaining Bank’s Commitment bears to the adjusted Total Revolving Loan
Commitments. Any such prepayment of Loans subject to the LIBOR Rate Option shall be subject to the
LIBOR breakage compensation set forth in Section 5.05 hereof.

     SECTION 4.07. TAX LAW, ETC. (a) In the event that by reason of any law, regulation or
requirement or in the interpretation thereof by an official authority, or the imposition of any
requirement of any central bank whether or not having the force of law, any Bank shall, with
respect to this Agreement or any transaction under this Agreement, be subjected to any tax, levy,
impost, charge, fee, duty, deduction or withholding of any kind whatsoever (other than any tax
imposed upon the total net income of such Bank) and if any such measures or any other similar
measure shall result in an increase in the cost to such Bank of making, issuing, participating in
or maintaining any Loan or Letter of Credit or in a reduction in the amount of principal, interest,
commitment fee or other amount receivable by such Bank in respect thereof, then such Bank shall
promptly notify the Borrower stating the reasons therefor. The Borrower shall thereafter pay to
such Bank upon demand from time to time on each interest payment date with respect to such Loans or
promptly following demand with respect to any such Letters of Credit, as additional consideration
hereunder, such additional amounts as will fully compensate such Bank for such increased cost or
reduced amount. A statement as to any such increased cost or reduced amount, setting forth the
calculations therefor, shall be submitted by such Bank to the Borrower not later than one hundred
fifty (150) days after the events giving rise to the same occurred and shall, in the absence of
manifest error, be conclusive and binding as to the amount thereof.

     (b) If any Bank receives such additional consideration from the Borrower pursuant to this
Section 4.07, such Bank shall use its best efforts to obtain the benefits of any refund, deduction
or credit for any taxes or other amounts on account of which such additional consideration has been
paid and shall reimburse the Borrower to the extent, but only to the extent, that such Bank shall
receive a refund of such taxes or other amounts together with any interest thereon or an effective
net reduction in taxes or other governmental charges (including any taxes imposed on or measured by
the total net income of such Bank) of the United States or any state or subdivision thereof by
virtue of any such deduction or credit, after first giving effect to all other deductions and
credits otherwise available to such Bank. If, at the time any audit of

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such Bank’s income tax return is completed, such Bank determines, based on such audit, that it
was not entitled to the full amount of any refund reimbursed to the Borrower as aforesaid or that
its net income taxes are not reduced by a credit or deduction for the full amount of taxes
reimbursed to the Borrower as aforesaid, the Borrower, upon demand of such Bank, will promptly pay
to such Bank the amount so refunded to which such Bank was not so entitled, or the amount by which
the net income taxes of such Bank were not so reduced, as the case may be.

     (c) Notwithstanding any other provision of this Agreement, after any such demand for
compensation by any Bank, the Borrower, upon at least one (1) but not more than thirty (30)
Cleveland Banking Days’ prior written notice to such Bank through the Agent, may prepay all Loans
of such Bank in full regardless of the Interest Period of any thereof (together with all accrued
interest, fees and other amounts payable thereon or with respect thereto) and following such
prepayment, the Total Revolving Loan Commitments shall be permanently reduced by the amount of the
Commitments of the Bank(s) whose Loans is/are so prepaid, and the remaining Banks’ Pro rata portion
of the Total Revolving Loan Commitments following such prepayment shall be adjusted based on the
percentage that each remaining Bank’s Commitment bears to the adjusted Total Revolving Loan
Commitments. Any such prepayment of Loans subject to the LIBOR Rate Option shall be subject to the
LIBOR breakage compensation set forth in Section 5.05 hereof.

     (d) All payments made by the Borrower hereunder or under any Note will be made free and clear
of, and without deduction or withholding for, any present or future taxes, levies, imposts, duties,
fees, assessments or other charges of whatever nature now or hereafter imposed by any jurisdiction
or by any political subdivision or taxing authority thereof or therein with respect to such
payments (but excluding, except as provided in the second succeeding sentence, any tax imposed on
or measured by the net income or net profits of a Bank and franchise taxes imposed on it pursuant
to the laws of the jurisdiction under which such Bank is organized or the jurisdiction in which the
principal office or the domestic lending office of such Bank, as applicable, is located or any
subdivision thereof or therein) and all interest, penalties or similar liabilities with respect to
such non-excluded taxes, levies, imposts, duties, fees, assessments or other charges (all such
non-excluded taxes, levies, imposts, duties, fees, assessments or other charges being referred to
collectively as “Taxes”). If any Taxes are so levied or imposed, the Borrower agrees to pay the
full amount of such Taxes and such additional amounts as may be necessary so that every payment by
it of all amounts due hereunder or under any Note, after withholding or deduction for or on account
of any Taxes will not be less than the amount provided for herein or in such Note. If any amounts
are payable in respect of Taxes pursuant to the preceding sentence, the Borrower agrees to
reimburse each Bank, upon the written request of such Bank, for taxes imposed on or measured by the
net income or profits of such Bank by reason of the payment of such Taxes and net of any tax
benefits received by such Bank pursuant to the laws of the jurisdiction in which such Bank is
organized or in which the principal office or domestic lending office of such Bank is located, as
the case may be, or under the laws of any political subdivision or taxing authority of any such
jurisdiction in which the principal office or the domestic lending office of such Bank is located,
as the case may be, and for any withholding of income or similar taxes imposed by the United States
of America as such Bank shall determine are payable by, or withheld from, such Bank in respect of
such amounts so paid to or on behalf of such Bank pursuant to the preceding sentence and in respect
of any amounts paid to or on behalf of such Bank pursuant to this sentence, which request shall be
accompanied by a

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statement from such Bank setting forth, in reasonable detail, the computations used in
determining such amounts. The Borrower will furnish to the Agent, on behalf of the applicable
Bank, within forty-five (45) days after the date the payment of any Taxes, or any withholding or
deduction on account thereof, is due pursuant to applicable law copies of tax receipts (certified,
if available), or other evidence reasonably satisfactory to the applicable Bank, evidencing such
payment by the Borrower. The Borrower will indemnify and hold harmless the Agent and each Bank,
and reimburse the Agent or such Bank upon its written request, for the amount of any Taxes so
levied or imposed and paid or withheld by the Agent or such Bank that are the obligations of the
Borrower pursuant to this Section 4.07.

     SECTION 4.08. INDEMNITY. Without prejudice to any other provisions of this Article
IV, the Borrower hereby agrees to indemnify each Bank against any reasonable loss or expense which
such Bank may sustain or incur as a consequence of any Event of Default hereunder, including, but
not limited to, any loss of profit, premium or penalty incurred by such Bank in respect of funds
borrowed by it for the purpose of making or maintaining any Loan subject to the LIBOR Rate Option,
as determined by such Bank in the exercise of its sole but reasonable discretion. A statement as
to any such loss or expense shall be submitted by such Bank to the Borrower not later than one
hundred fifty (150) days after the events giving rise to the same occurred and shall, in the
absence of manifest error, be conclusive and binding as to the amount thereof.

     SECTION 4.09. EURODOLLAR DEPOSITS UNAVAILABLE OR INTEREST RATE UNASCERTAINABLE. In
the event that the Agent shall have determined that dollar deposits of the relevant amount for the
relevant Interest Period are not available in the applicable Eurodollar market or that, by reason
of circumstances affecting such market, adequate and reasonable means do not exist for ascertaining
the LIBOR rate applicable to such Interest Period, as the case may be, the Agent shall promptly
give notice of such determination to each Bank and the Borrower. In any such event, all principal
of the Loans then subject to the LIBOR Rate Option shall become subject to the Base Rate Option
(without giving effect to clause (c) of the definition of “Base Rate” contained in Article I
hereof) on expiration of any Interest Periods then in effect. In the event that the circumstances
causing any such unavailability of deposits or inability to determine the LIBOR rate shall change
or terminate so that the LIBOR rate may again be determined, the Agent shall promptly so notify
each Bank and the Borrower.

     SECTION 4.10. CHANGES IN LAW RENDERING LIBOR LOANS UNLAWFUL. If at any time any new
law, treaty, regulation, governmental rule or order or any change in any existing law, treaty,
regulation, governmental rule or order or any interpretation thereof by any governmental or other
regulatory authority charged with the administration thereof, or the application thereof, shall
make it unlawful for any Bank to fund any Loans which it is committed to make hereunder subject to
the LIBOR Rate Option, the Commitment of such Bank to fund such Loans shall, upon the happening of
such event forthwith be suspended for the duration of such illegality, and such Bank shall by
written notice to the Borrower and the Agent declare that its Commitment with respect to such Loans
has been so suspended and, if and when such illegality ceases to exist, such suspension shall cease
and such Bank shall similarly notify the Borrower and the Agent. If any such change shall make it
unlawful for any Bank to continue in effect the funding in the applicable Eurodollar market of any
Loan previously made by it hereunder subject to the LIBOR Rate Option, such Bank shall, upon the
happening of such event,

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notify the Borrower, the Agent and the other Banks thereof in writing stating the reasons
therefor, and all principal of the Loans then subject to the LIBOR Rate Option shall, on the
earlier of (i) the last day of the then current Interest Period or (ii) if required by such law,
regulation or interpretation, on such date as shall be specified in such notice, become subject to
the Base Rate Option (without giving effect to clause (c) of the definition of “Base Rate”
contained in Article 1 hereof).

     SECTION 4.11. FUNDING. Each Bank may, but shall not be required to, make Loans
hereunder with funds obtained outside the United States.

     SECTION 4.12. CAPITAL ADEQUACY. If any Bank shall have determined, on a reasonable
basis (which determination shall, absent manifest error, be final and conclusive and binding on all
parties hereto), after the date of this Agreement, that the adoption of, or any change in, any
applicable law, rule or regulation regarding capital adequacy, or any change in the interpretation
or administration thereof by any governmental authority, central bank or comparable agency charged
with the interpretation or administration thereof, or compliance by such Bank (or its lending
office) with any request or directive regarding capital adequacy (whether or not having the force
of law) of any such authority, central bank or comparable agency, has or would have the effect of
reducing the rate of return on such Bank’s capital (or the capital of its holding company) as a
consequence of its obligations hereunder to a level below that which such Bank (or its holding
company) could have achieved but for such adoption, change or compliance (taking into consideration
such Bank’s policies or the policies of its holding company with respect to capital adequacy) by an
amount deemed by such Bank to be material, then from time to time, within thirty (30) days after
delivery to the Borrower by such Bank of a certificate setting forth such calculation, the Borrower
shall pay to such Bank such additional amount or amounts as will compensate such Bank (or its
holding company) for such reduction. Such Bank shall designate a different lending office if such
designation will avoid the need for, or reduce the amount of, such compensation and will not, in
the judgment of such Bank, be otherwise disadvantageous to it. A certificate of any Bank claiming
compensation under this Section and setting forth the additional amount or amounts to be paid to it
hereunder shall be conclusive absent manifest error as to the amount or amounts owing to such Bank.
In determining such amount, the Banks may use any reasonable averaging and attribution methods.
Failure on the part of any Bank to demand compensation for any reduction in return on capital with
respect to any period shall not constitute a waiver of such Bank’s rights to demand compensation
for any reduction in return on capital in such period or in any other period. The protection of
this Section shall be available to the Banks regardless of any possible contention of the
invalidity or inapplicability of the law, regulation or other condition which shall have been
imposed.

     SECTION 4.13. LIMITATIONS ON CLAIMS. Notwithstanding anything in this Agreement to
the contrary, (a) no Bank shall be entitled to compensation or payment or reimbursement under
Section 4.06, 4.07, 4.10 or 4.12 hereof for any amounts incurred or accruing more than one hundred
fifty (150) days prior to the giving of notice to the Borrower of additional costs or other amounts
of the nature described in such Sections and (b) no Bank shall be entitled to compensation for any
reduction referred to in Section 4.12 hereof if it shall not at the time be the general policy or
practice of such Bank to demand such compensation in similar circumstances under comparable
provisions of other credit agreements.

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     SECTION 4.14. NO SETOFF OR COUNTERCLAIM. Without limiting Section 4.07(d) hereof, all
payments by the Borrower hereunder and under any of the Related Writings shall be made without
setoff or counterclaim. If any such obligation is imposed upon the Borrower with respect to any
amount payable by it hereunder or under any of the Related Writings, the Borrower will pay to the
Agent, for the account of the Banks (including the Swing Line Lenders) or (as the case may be) the
Agent, on the date on which such amount is due and payable hereunder or under such Related Writing,
such additional amount in U.S. dollars as shall be necessary to enable the Banks or the Agent to
receive the same net amount which the Banks or the Agent would have received on such due date had
no such obligation been imposed upon the Borrower. The Borrower will deliver promptly to the Agent
certificates or other valid vouchers for all charges deducted from or paid with respect to payments
made by the Borrower hereunder or under any Related Writing. The foregoing shall not be
deemed a waiver of Borrower’s right to assert any compulsory counterclaim, if such counterclaim is
compelled under local law or rule of procedure, nor shall the foregoing be deemed a waiver of
Borrower’s right to independently assert any claim which would constitute a defense, setoff,
counterclaim or crossclaim of any nature whatsoever against the Agent or any Bank under this
Agreement or any Related Writing in any separate action or proceeding.

     SECTION 4.15. CERTAIN PROVISIONS RELATING TO INCREASED COSTS AND DELINQUENT BANKS OR
INSOLVENT/SEIZED BANKS. If a Bank gives notice of the existence of the circumstances set forth
in Section 4.10 hereof or any Bank requests compensation for any losses or costs to be reimbursed
pursuant to any one or more of the provisions of Section 4.07(a) (as a result of the imposition of
U.S. withholding taxes on amounts paid to such Bank under this Agreement), 4.06 or 4.12 hereof,
then, upon request of the Borrower, such Bank, as applicable, shall use reasonable efforts in a
manner consistent with such institution’s practice in connection with loans, other credit
extensions and commitments like the Loans, other credit extensions hereunder and Commitment of such
Bank to eliminate, mitigate or reduce amounts that would otherwise be payable by the Borrower under
the foregoing provisions, provided that such action would not be otherwise prejudicial to
such Bank, including, without limitation, by designating another of such Bank’s offices, branches
or affiliates; the Borrower agreeing to pay all reasonably incurred costs and expenses incurred by
such Bank in connection with any such action. Notwithstanding anything to the contrary contained
herein, if no Possible Default or Event of Default shall have occurred and be continuing, and if
any Bank (a) has given notice of the existence of the circumstances set forth in Section 4.10
hereof or has requested payment or compensation for any losses or costs to be reimbursed pursuant
to any one or more of the provisions of Section 4.07(a) (as a result of the imposition of U.S.
withholding taxes on amounts paid to such Bank under this Agreement), 4.06 or 4.12 hereof and
following the request of the Borrower has been unable to take the steps described above to mitigate
such amounts (each, an “Affected Bank”) or (b) is a Delinquent Bank or an Insolvent/Seized Bank,
then, within thirty (30) days after such notice or request for payment or compensation or such Bank
becoming a Delinquent Bank or an Insolvent/Seized Bank, as applicable, the Borrower shall have the
one-time right as to each such Affected Bank, Delinquent Bank or Insolvent/Seized Bank, as
applicable, to be exercised by delivery of written notice to the Agent and such Affected Bank,
Delinquent Bank and/or Insolvent/Seized Bank, as applicable, within thirty (30) days of receipt of
such notice or request for payment or compensation or such Bank becoming a Delinquent Bank or an
Insolvent/Seized Bank, as applicable, to elect to cause such Affected Bank, Delinquent Bank and/or
Insolvent/Seized Bank, as applicable, to transfer its

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Commitment. The Agent shall promptly notify the remaining Banks that each such Bank shall
have the right, but not the obligation, to acquire a Pro rata share (calculated without giving
effect to the outstanding Loans of such Affected Bank, Delinquent Bank or Insolvent/Seized Bank) of
the Commitment of such Affected Bank, Delinquent Bank or Insolvent/Seized Bank, as applicable (or
if any of such Banks does not elect to purchase its Pro rata share, then to such remaining Banks in
such proportion as approved by the Agent). In the event that the Banks do not elect to acquire all
of any Affected Bank’s, Delinquent Bank’s or Insolvent/Seized Bank’s Commitment, then the Agent
shall endeavor to obtain a new Bank to acquire such remaining Commitment. Upon any such purchase
of the Commitment of any Affected Bank, Delinquent Bank or Insolvent/Seized Bank, as applicable,
such Affected Bank’s, Delinquent Bank’s or Insolvent/Seized Bank’s interest in the Debt and its
rights hereunder and under the Related Writings shall terminate at the date of purchase, and such
Affected Bank, Delinquent Bank or Insolvent/Seized Bank shall promptly execute all documents
reasonably requested to surrender and transfer such interest. The purchase price for an Affected
Bank’s, Delinquent Bank’s or Insolvent/Seized Bank’s Commitment, as the case may be, shall equal
any and all amounts outstanding and owed by the Borrower to such Affected Bank, Delinquent Bank or
Insolvent/Seized Bank, including principal and all accrued and unpaid interest or fees.

ARTICLE V

AGREEMENTS AND CONDITIONS APPLICABLE TO ALL REVOLVING LOANS

     SECTION 5.01. NOTICE OF BORROWING. (a) Whenever the Borrower desires to incur a
Revolving Loan, it shall give the Agent, prior to 12:00 noon (Cleveland time), at least three (3)
Cleveland Banking Days’ prior written notice (or telephonic notice promptly confirmed in writing)
of each Revolving Loan to be subject to the LIBOR Rate Option and at least one (1) Cleveland
Banking Days’ prior written notice (or telephonic notice promptly confirmed in writing) of each
Revolving Loan to be subject to the Base Rate Option. Each such notice (each, a “Notice of
Borrowing” a form of which is attached hereto as Exhibit F) shall be appropriately completed to
specify (i) the aggregate principal amount of each Revolving Loan to be made, which shall be an
amount equal to an integral multiple of Five Hundred Thousand Dollars ($500,000), (ii) the date
such Revolving Loan(s) shall be made (which shall be a Cleveland Banking Day and, in the case of a
Revolving Loan based on the LIBOR Rate Option, a London Banking Day), and (iii) whether the
Revolving Loan(s) shall be subject to the Base Rate Option or the Libor Rate Option and, in the
latter case, the Interest Period to be initially applicable thereto. The Agent shall promptly give
each Bank written notice (or telephonic notice promptly confirmed in writing) of each proposed
Revolving Loan, of such Bank’s Pro rata share thereof and of the other matters covered by the
Notice of Borrowing.

     (b) Without in any way limiting the obligation of the Borrower to confirm in writing any
telephonic notice permitted to be given hereunder, the Agent may, prior to receipt of written
confirmation, act without liability upon the basis of such telephonic notice, believed by the Agent
in good faith to be from an Authorized Fiscal Officer. In such case, the Borrower hereby waives
the right to dispute the Agent’s record of the terms of such telephonic notice.

     (c) Whenever the Borrower desires to incur a Swing Loan, it shall give the Agent, prior to
2:00 p.m. (Cleveland time) on the proposed date of borrowing of any Swing Loan, written notice (or
telephonic notice promptly confirmed in writing) in the form of a Notice of

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Borrowing of each such Swing Loan. The Agent shall promptly give each Swing Line Lender
written notice (or telephonic notice promptly confirmed in writing) of each proposed Swing Loan, of
such Swing Line Lender’s pro rata share thereof and of other matters covered by the Notice of
Borrowing relating to such Swing Loan.

     SECTION 5.02. DISBURSEMENT OF FUNDS. (a) No later than 1:00 p.m. (Cleveland time) on
the date specified in each Notice of Borrowing, each Bank will make available its Pro rata portion
of each Revolving Loan requested to be made on such date in the manner provided below in this
Section 5.02(a). All amounts shall be made available to the Agent in U.S. dollars and immediately
available funds at its office listed on the signature pages hereto and the Agent promptly will make
available to the Borrower by depositing to its account at the Agent’s office the aggregate of the
amounts so made available in the type of funds received. Unless the Agent shall have been notified
by any Bank prior to the date specified in the Notice of Borrowing that such Bank does not intend
to make available to the Agent its portion of the Revolving Loan or Revolving Loans to be made on
such date, the Agent may assume that such Bank has made such amount available to the Agent on such
date of borrowing, and the Agent, in reliance upon such assumption, may (in its sole discretion and
without any obligation to do so) make available to the Borrower a corresponding amount. If such
corresponding amount is not in fact made available to the Agent by such Bank and the Agent has made
available the same to the Borrower, the Agent shall be entitled to recover such corresponding
amount from such Bank. If such Bank does not pay such corresponding amount forthwith upon the
Agent’s demand therefor, the Agent shall promptly notify the Borrower, and the Borrower shall
immediately pay such corresponding amount to the Agent. The Agent shall also be entitled to
recover from the Bank or the Borrower, as the case may be, interest on such corresponding amount in
respect of each day from the date such corresponding amount was made available by the Agent to the
Borrower to the date such corresponding amount is recovered by the Agent at a rate per annum equal
to (i) if paid by such Bank, the overnight Federal Funds Effective Rate or (ii) if paid by the
Borrower, the then applicable rate of interest, calculated in accordance with Article IV hereof,
for the Revolving Loans.

     (b) Nothing herein shall be deemed to relieve any Bank from its obligation to fulfill its
commitments hereunder or to prejudice any rights which the Borrower may have against any Bank as a
result of any default by such Bank hereunder.

     (c) No later than 3:00 p.m. (Cleveland time) on the date specified in each Notice of Borrowing
relating to a Swing Loan, each Swing Line Lender will make available its pro rata portion of each
Swing Loan requested to be made on such date in the manner provided below in this Section 5.02(c).
All amounts shall be made available to the Agent in U.S. dollars and immediately available funds at
its office listed on the signature pages hereto and the Agent promptly will make available to the
Borrower by depositing to its account at the Agent’s office the aggregate of the amounts so made
available in the type of funds received.

     SECTION 5.03. CONDITIONS TO LOANS AND LETTERS OF CREDIT. The obligation of each Bank
to make Loans hereunder or of any Issuing Bank to issue Letters of Credit hereunder, as applicable,
is conditioned, in the case of each Loan and each Letter of Credit hereunder, upon the following:

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     (a) receipt by the Agent of a Notice of Borrowing or by the applicable Issuing Bank of a
Letter of Credit Request, as applicable;

     (b) no Event of Default or Possible Default existing then or immediately after giving effect
to the Loan or Letter of Credit, as applicable;

     (c) the conditions set forth in Article VI hereof having been satisfied;

     (d) the representations and warranties contained in Article IX hereof and in each of the
Related Writings being true and correct in all material respects with the same force and effect as
if made on and as of the date of such Loan or such Letter of Credit, as applicable, except to the
extent that any thereof expressly relate to an earlier date; and

     (e) the representations and warranties of the Parent contained in Section 7 of the Guaranty
being true and correct in all material respects with the same force and effect as if made on and as
of the date of such Loan or such Letter of Credit, as applicable, except to the extent that any
thereof expressly relate to an earlier date.

Each request for a Loan or a Letter of Credit by the Borrower hereunder shall be deemed to be a
representation and warranty by the Borrower as of the date of such borrowing as to the truth of the
matters specified in subsections (b), (c) (d) and (e) above.

     SECTION 5.04. PAYMENT ON NOTES, ETC. All payments of principal, interest, and any
other amounts under this Agreement shall be made to the Agent in immediately available funds and in
lawful money of the United States of America for the account of the Banks, not later than
12:00 noon (Cleveland time) on the date when due. Any such payment received by the Agent after
12:00 noon (Cleveland time) on a Cleveland Banking Day shall be deemed received on the next
succeeding Cleveland Banking Day and interest shall accrue to such next Cleveland Banking Day in
respect of any principal of the Loans to be paid by such payment. All payments made by the
Borrower hereunder, under any Note or under any other Related Writing, will be made without setoff,
counterclaim or defense. The Agent shall distribute to each Bank entitled thereto its Pro rata
share of the amount of principal, interest and other amounts received by it for the account of such
Bank on the same day the Agent receives payment thereof from the Borrower in immediately available
funds, unless the Agent does not receive such payment from the Borrower until after 12:00 noon
(Cleveland time), in which case the Agent shall make payment thereof to the Banks entitled thereto
on the next Cleveland Banking Day. Each Bank shall endorse each Note held by it with appropriate
notations evidencing each payment of principal made thereon or shall record such principal payment
by such other method as such Bank may generally employ; provided, that failure to make any
such entry shall in no way detract from the Borrower’s obligations under each such Note. Whenever
any payment to be made hereunder, including without limitation any payment to be made on any Note,
shall be stated to be due on a day which is not a Cleveland Banking Day, such payment shall be made
on the next succeeding Cleveland Banking Day and such extension of time shall in each case be
included in the computation of the interest payable on such Note; provided, that if the next
succeeding Cleveland Banking Day falls in the succeeding calendar month, such payment shall be made
on the preceding Cleveland Banking Day and the relevant Interest Period shall be adjusted
accordingly. To the extent a Bank does not receive its Pro rata share of the amount of

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principal, interest and other amounts made available by the Borrower to the Agent for the
account of such Bank at the applicable time set forth above in this Section 5.04, such Bank shall
be entitled to recover from the Agent, interest on all such amounts in respect of each day from the
date such amounts were made available to the Agent by the Borrower to the date such amounts are
distributed to such Bank at a rate per annum equal to the overnight Federal Funds Effective Rate.

     SECTION 5.05. PREPAYMENT. (a) The Borrower shall have the right (subject to the
payment of LIBOR breakage compensation as hereinafter described in this Section 5.05 with respect
to Loans subject to the LIBOR Rate Option), at any time or from time to time, upon two
(2) Cleveland Banking Days’ prior written notice (or telephonic notice promptly confirmed in
writing) to prepay all or any part of the principal amount of the Loans then outstanding as
designated by the Borrower, subject to the provisions of Section 5.05(b) hereof, plus interest
accrued on the amount so prepaid to the date of such prepayment, which notice shall promptly be
transmitted by the Agent to each of the Banks.

     (b) The Borrower agrees that if LIBOR as determined as of 11:00 a.m. London time, two (2)
London Banking Days’ prior to the date of prepayment or acceleration of any Loans (hereinafter,
“Prepayment LIBOR”) shall be lower than the last LIBOR (without giving effect to the LIBOR Floor)
previously determined for those Loans accruing interest at LIBOR with respect to which prepayment
is intended to be made or that are accelerated prior to the end of the applicable Interest Period
(hereinafter, “Last LIBOR”), then the Borrower shall, upon written notice by the Agent, promptly
pay to the Agent, for the account of each of the Banks, in immediately available funds, LIBOR
breakage compensation measured by a rate (the “LIBOR Breakage Rate”) which shall be equal to the
difference between the Last LIBOR and the Prepayment LIBOR. In determining the Prepayment LIBOR
payable to each Bank, the Agent shall apply a rate for each Bank equal to LIBOR for a deposit
approximately equal to each Bank’s portion of such prepayment or accelerated balance which would be
applicable to an Interest Period commencing on the date of such prepayment or acceleration and
having a duration as nearly equal as practicable to the remaining duration of the actual Interest
Period during which such acceleration occurs or prepayment is to be made. In addition, the
Borrower shall immediately pay directly to each Bank the amount claimed as additional costs or
expenses (including, without limitation, cost of telex, wires, or cables) incurred by such Bank in
connection with the prepayment or acceleration upon the Borrower’s receipt of a written statement
from such Bank. The LIBOR Breakage Rate shall be applied to all or such part of the principal
amounts of the Notes that relate to the Loans subject to the LIBOR Rate Option to be prepaid, or
that are accelerated and the LIBOR breakage compensation shall be computed for the period
commencing with the date on which such prepayment is to be made or acceleration occurs to that date
which coincides with the last day of the Interest Period previously established when the Loans
subject to the LIBOR Rate Option, which are to be prepaid or are accelerated, were made. Each
voluntary prepayment of a Loan shall be in an aggregate principal sum of not less than One Million
Dollars ($1,000,000) (except in the case of a Loan initially made in an aggregate amount less than
One Million Dollars ($1,000,000) in which case, such voluntary prepayment shall be in the aggregate
principal sum of such Loan) and, if greater, in an integral multiple of Two Hundred Fifty Thousand
Dollars ($250,000). In the event the Borrower cancels a proposed Loan subject to the LIBOR Rate
Option subsequent to the delivery to the Agent of a Notice of Borrowing with respect to such Loan,
but prior to the draw down of funds thereunder,

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or the continuation of or conversion to a Loan subject to the LIBOR Rate Option does not occur
for any reason (other than a default by any Bank or the Agent), such cancellation or failure to
continue or convert shall be treated as a prepayment subject to the aforementioned LIBOR breakage
compensation.

     SECTION 5.06. UNUSED COMMITMENT FEES. (a) For each day that the Revolving Credit
Exposure equals or exceeds fifty percent (50%) of the Total Revolving Loan Commitments, the
Borrower shall pay to the Agent, for the Pro rata benefit of the Banks, an unused commitment fee at
the rate per annum (based on a year of 360 days and calculated for the actual number of days
elapsed) of twenty-five (25) basis points times the excess of the Total Revolving Loan
Commitments then in effect over the Revolving Credit Exposure on that day and (b) for each day that
the Revolving Credit Exposure is less than fifty percent (50%) of the Total Revolving Loan
Commitments, the Borrower shall pay to the Agent, for the Pro rata benefit of the Banks, an unused
commitment fee at the rate per annum (based on a year of 360 days calculated for the actual number
of days elapsed) of thirty-five (35) basis points times the excess of the Total Revolving
Loan Commitments then in effect over the Revolving Credit Exposure on that day. The unused
commitment fee shall be payable on the first Cleveland Banking Day after the first Fiscal Quarterly
Date occurring after the Restatement Effective Date and continuing on the first Cleveland Banking
Day after each Fiscal Quarterly Date thereafter. After any permanent reduction of the Total
Revolving Loan Commitments pursuant to Section 4.06, 4.07(c) or 5.07 hereof, the unused commitment
fees payable hereunder shall be calculated based upon the Total Revolving Loan Commitments of the
Banks as so reduced.

     (b) All unused commitment fees payable under the 2007 Credit Agreement that shall have accrued
under the 2007 Credit Agreement and remain unpaid on the Restatement Effective Date shall be paid
in full on the Restatement Effective Date.

     SECTION 5.07. REDUCTION OF THE TOTAL REVOLVING LOAN COMMITMENTS. The Borrower shall
have the right at all times to permanently reduce the Total Revolving Loan Commitments in whole or
in part by giving written notice of the reduction to the Agent (which shall promptly notify each of
the Banks) at least one (1) Cleveland Banking Day prior to the reduction, each such reduction to be
in an amount equal to at least Ten Million Dollars ($10,000,000), or the then Total Revolving Loan
Commitments if the then Total Revolving Loan Commitments are less than Ten Million Dollars
($10,000,000). In addition to the foregoing, the Total Revolving Loan Commitments shall be
permanently reduced by an amount equal to fifty percent (50%) of total External Capital if and to
the extent required by Section 9.8(a)(v) of the Guaranty, such reduction, if any, to be made (a)
within five (5) Cleveland Banking Days of each event generating any such External Capital which,
when taken together with all events generating such External Capital since the date of the last
such reduction pursuant to this sentence (or the date of this Agreement if there has been no such
prior permanent reduction), results in an aggregate required permanent reduction of Twenty Five
Million Dollars ($25,000,000) or more and (b) on the fifth (5th) day of each fiscal
quarter of the Borrower with respect to all required permanent reductions resulting from each event
generating External Capital since the date of the last such permanent reduction (or the date of
this Agreement if there has been no such prior permanent reduction) up to the last day of the
immediately prior fiscal quarter of the Borrower prior to such payment date. Notwithstanding the
foregoing, in the event any such reduction reduces (or further reduces) the Total Revolving Loan
Commitments to an

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amount less than the Reserved Commitment (such amount the “Reserve Deficiency”), the Borrower
shall deposit, or shall cause to be deposited, into an interest bearing reserve account (the
“Reserve Deficiency Account”) maintained with the Agent simultaneously with any such reduction (or
further reduction) of the Total Revolving Loan Commitments to an amount less than the Reserved
Commitment an amount of Cash equal to the Reserve Deficiency, and thereafter such deposit (together
with any amount deposited into the Reserve Deficiency Account with respect to any further Reserve
Deficiency) shall be subject to withdrawal solely for purposes of Retiring Indebtedness of the
Parent or the Borrower or the Borrower’s Subsidiaries as may be approved in writing by the Required
Banks and paying the reasonable and customary costs and expenses related thereto, and shall
otherwise be held and disbursed by the Agent pursuant to terms and conditions reasonably acceptable
to the Agent. Each such reduction shall reduce each Bank’s Commitment by an amount based on their
Pro rata shares of the Total Revolving Loan Commitments in effect immediately prior to such
reduction. Concurrently with each such reduction, the Borrower shall prepay an amount of the
Loans, if any, together with interest thereon, by which the sum of the aggregate unpaid principal
amount of the then outstanding Loans plus the LC Obligations plus the Total
Reserved Letter of Credit Amount then in effect plus the Permitted Non-Affiliate Loan
Reserve exceeds the Total Revolving Loan Commitments as so reduced, in accordance with Section 5.05
hereof.

     SECTION 5.08. EXTENSION OF THE LOANS. Commencing on the first anniversary of the
Restatement Effective Date, the Borrower may request the Banks to extend the Termination Date for
one (1) additional year in a writing delivered to the Agent not later than one hundred eighty (180)
days prior to the then applicable Termination Date, in accordance with the terms of this Agreement.
The unanimous consent of the Banks shall be required for any such extension and the Banks shall
have the right, but not the obligation, to approve such request for an extension. Any approval of
the Borrower’s request shall be subject to such terms and conditions as the Banks may deem
appropriate.

     SECTION 5.09. COLLATERAL. The Debt and the obligations of the Borrower under this
Agreement shall be secured as provided in the Pledge Agreement.

ARTICLE VI

CONDITIONS PRECEDENT

     Prior to or concurrently with the execution and delivery of this Agreement, and as conditions
precedent to the making or continuation of any Loans or the issuance or continuation of Letters of
Credit hereunder on the Restatement Effective Date, the following actions shall be taken, all in
form and substance satisfactory to the Agents and the Banks and their respective counsel:

     SECTION 6.01. CORPORATE AND LOAN DOCUMENTS. The Agent on behalf of the Banks shall
have received the following documents, in all cases duly executed, delivered and/or certified, as
the case may be:

     (a) Certified copies of the resolutions of the board of directors of the Borrower evidencing
approval of the execution, delivery and performance of this Agreement, the Notes provided for
herein, the Side Letter and the Pledge Agreement.

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     (b) Certified copies of resolutions of the board of directors of the Parent evidencing
approval of the execution, delivery and performance of the Side Letter and the Guaranty.

     (c) Copies of the Articles of Incorporation of the Borrower in effect as of the Restatement
Effective Date, certified by the Ohio Secretary of State as of a recent date.

     (d) Copies of the Articles of Incorporation of the Parent in effect as of the Restatement
Effective Date, certified by the Ohio Secretary of State as of a recent date.

     (e) Copies of the Code of Regulations of the Borrower in effect as of the Restatement
Effective Date, certified as true and complete as of the Restatement Effective Date by the
secretary of the Borrower.

     (f) Copies of the Code of Regulations of the Parent in effect as of the Restatement Effective
Date, certified as true and complete as of the Restatement Effective Date by the secretary of the
Parent.

     (g) A good standing certificate for the Borrower from the State of Ohio as of a recent date.

     (h) A good standing certificate for the Parent from the State of Ohio as of a recent date.

     (i) A certificate of the secretary or assistant secretary of the Borrower certifying the names
of the officers of the Borrower authorized to sign this Agreement, the Notes, the Side Letter and
the Pledge Agreement, together with the true signatures of such officers.

     (j) A certificate of the secretary or assistant secretary of the Parent certifying the names
of the officers of the Parent authorized to sign the Side Letter and the Guaranty, together with
the true signatures of such officers.

     (k) Counterparts of this Agreement duly executed and delivered by the Borrower, the Agents and
the Banks, of the Side Letter duly executed and delivered by the Borrower, the Parent, the Agents
and the Banks, of the Guaranty duly executed and delivered by the Parent and of the Pledge
Agreement duly executed and delivered by the Borrower.

     (l) For each Bank, a Revolving Loan Note payable to the account of each respective Bank in the
amount of their respective Commitments.

     (m) For each Swing Line Lender, a Swing Line Note payable to the account of each respective
Swing Line Lender in the amount of their respective Swing Line Commitments.

     (n) A certificate of the secretary or assistant secretary of the Borrower certifying that as
of the Restatement Effective Date and after giving effect thereto and to the Loans made hereunder
(i) there exists no Possible Default or Event of Default and (ii) all representations and
warranties contained herein and in the Pledge Agreement shall be true and correct in all material
respects.

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     (o) A certificate of the secretary or assistant secretary of the Parent certifying that as of
the Restatement Effective Date and after giving effect thereto and to the Loans made hereunder
(i) there exists no Possible Default or Event of Default and (ii) all representations and
warranties contained herein and in the Guaranty shall be true and correct in all material respects.

     SECTION 6.02. OPINION OF COUNSEL FOR PARENT. The Borrower shall have delivered or
caused to be delivered to the Agents and the Banks a favorable opinion of counsel for the Parent as
to the due authorization, execution and delivery, and legality, validity, and enforceability of the
Side Letter and the Guaranty and such other matters as the Agents and the Banks may request.

     SECTION 6.03. JUDGMENT, ORDERS. On the Restatement Effective Date, there shall not
exist any judgment, order, injunction or other restraint issued or filed with respect to the
consummation of the transactions contemplated by this Agreement.

     SECTION 6.04. LITIGATION. On the Restatement Effective Date, there shall be no
actions, suits or proceedings pending or threatened (a) with respect to this Agreement or any
Related Writing or the transactions contemplated hereby or thereby or (b) which the Agents or the
Banks shall determine could have a Material Adverse Effect.

     SECTION 6.05. NOTICE OF BORROWING. Prior to the making of each Loan, the Agent shall
have received a Notice of Borrowing satisfying the requirements of Section 5.01 hereof.

     SECTION 6.06. OPINION OF COUNSEL FOR BORROWER. The Borrower shall have delivered or
caused to be delivered to the Agents and the Banks a favorable opinion of counsel for the Borrower
as to the due authorization, execution and delivery, and legality, validity and enforceability of
this Agreement, the Notes, the Side Letter and the Pledge Agreement and such other matters as the
Agents and the Banks may request.

     SECTION 6.07. PAYMENT OF FEES. On the Restatement Effective Date, the Borrower shall
have paid to the Agents and the Banks all costs, fees and expenses, and all other compensation
contemplated by this Agreement (including, without limitation, legal fees and expenses) to the
extent then due.

     SECTION 6.08. ADVERSE CHANGE, ETC. From October 31, 2009 to the Restatement Effective
Date, nothing shall have occurred (and neither the Banks nor the Agents shall have become aware of
any facts or conditions not previously known) which the Banks or the Agents shall determine has, or
could reasonably be expected to have, a Material Adverse Effect.

     SECTION 6.09. EVIDENCE OF INSURANCE. The Borrower shall have delivered to the Agents
and the Banks evidence of insurance complying with the provisions of Section 7.09 hereof.

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ARTICLE VII

AFFIRMATIVE COVENANTS

     Borrower covenants and agrees that on the Restatement Effective Date and thereafter, for so
long as this Agreement remains in effect and until the Commitments and all Letters of Credit are
terminated or cancelled or expire, no Notes are outstanding and the Loans, together with interest,
fees and all other obligations incurred hereunder, are paid in full, the Borrower will perform and
observe all of the following provisions, namely:

     SECTION 7.01. PAYMENT OF AMOUNTS DUE. The Borrower will make all payments of the
principal of and interest on the Loans and the Notes, and any fee or other amount provided for
hereunder, promptly as the same become due.

     SECTION 7.02. EXISTENCE, BUSINESS, ETC. The Borrower will cause to be done all things
necessary to preserve and to keep in full force and effect its existence and rights and those of
its Subsidiaries. The Borrower will, and will cause its Subsidiaries to, comply in all material
respects with all federal, state and local laws and regulations now in effect or hereafter
promulgated by any governmental authority having jurisdiction over it or them, as applicable.

     SECTION 7.03. MAINTENANCE OF PROPERTIES. The Borrower will, and will cause its
Subsidiaries to, at all times maintain, preserve, protect and keep its properties used in the
conduct of its business in good repair, working order and condition, ordinary wear and tear
excepted, and, from time to time, make all needful and proper repairs, renewals, replacements,
betterments, and improvements thereto, in all cases in which the failure so to do would cause a
Material Adverse Effect and so that the business carried on in connection therewith may be properly
conducted at all times.

     SECTION 7.04. PAYMENT OF TAXES, ETC. The Borrower will pay and discharge all lawful
taxes, assessments and governmental charges or levies imposed upon it, upon its income or profits
or upon its properties, before the same shall become in default or penalties attach thereto, as
well as all lawful claims for the same which have become due and payable which, if unpaid, might
become a Lien or charge upon such properties or any part thereof; provided, that the
Borrower shall not be required to pay and discharge any such tax, assessment, charge, levy or claim
so long as the validity thereof shall be contested in good faith by appropriate proceedings and
there shall be set aside on its books such reserves with respect thereto as are required by GAAP.
Except where the liability for the tax, assessment, charge, levy or claim is limited solely to the
property on which assessed and is not subject to enforcement against the Borrower, the Borrower
will in all events pay such tax, assessment, charge, levy or claim before the property subject
thereto shall be sold to satisfy any Lien which has attached as security therefor.

     SECTION 7.05. FINANCIAL STATEMENTS; ETC. The Borrower will furnish or cause to be
furnished to each Bank:

     (a) within forty-five (45) days (or fifty (50) days so long as the Parent shall not have
reported an Event of Default to the Securities and Exchange Commission during such fiscal period or
on its most recent filing with the Securities and Exchange Commission) after the end of

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each of the first three (3) quarter-annual fiscal periods of each of the Borrower’s fiscal
years, a Form 10-Q as filed with the Securities and Exchange Commission, an unaudited consolidated
and consolidating balance sheet of the Parent as at the end of that period and an unaudited
consolidated and consolidating statement of income of the Parent for the Parent’s current fiscal
year to date, all prepared in form and detail in accordance with GAAP, consistently applied, or the
Pro Rata Consolidation Method, as applicable, and certified by a Senior Officer of the Parent,
together with a certificate of a Senior Officer of the Borrower (i) specifying the nature and
period of existence of each Event of Default and/or Possible Default, if any, and the action taken,
being taken or proposed to be taken by the Borrower in respect thereof, or if none, so stating,
(ii) certifying that the representations and warranties of the Borrower set forth in Article IX
hereof and in the Related Writings are true and correct in all material respects as of the date of
such certificate except to the extent of changes resulting from transactions permitted by this
Agreement, the Guaranty and each other Related Writing (it being understood and agreed that any
representation or warranty which by its terms is made as of a specified date shall be required to
be true and correct only as of such specified date), or, if not, all respects in which they are not
and (iii) certifying whether there has been compliance by the Borrower with the covenant contained
in Section 8.13 hereof (and providing calculations related to any exclusions of Net Operating
Income as permitted by said Section 8.13);

     (b) within ninety (90) days (or ninety-five (95) days so long as the Parent shall not have
reported an Event of Default under the Guaranty to the Securities and Exchange Commission during
such fiscal period nor on its most recent filing with the Securities and Exchange Commission) after
the end of each fiscal year of the Borrower, an annual report on Form 10-K as filed by the Parent
with the Securities and Exchange Commission, including the complete audited consolidated balance
sheets and statements of income of the Parent for that year, certified by an independent public
accountant satisfactory to the Banks, and an unaudited consolidating balance sheet and statement of
income of the Parent for the current fiscal year, each in form and detail satisfactory to the
Banks, and prepared in accordance with GAAP, consistently applied, or the Pro Rata Consolidation
Method, as applicable, together with (i) a report of the independent certified public accountant,
with an opinion that is not qualified as to the scope of the audit or as to the status of the
Parent or the Borrower as a going concern, (ii) a certificate of a Senior Officer of the Borrower
(X) specifying the nature and period of existence of each Event of Default and/or Possible Default,
if any, and the action taken, being taken or proposed to be taken by the Borrower in respect
thereof or, if none, so stating, and (Y) certifying that the representations and warranties of the
Borrower set forth in Article IX hereof and in the Related Writings are true and correct in all
material respects as of the date of such certificate except to the extent of changes resulting from
transactions permitted by this Agreement, the Guaranty and each other Related Writing (it being
understood and agreed that any representation or warranty which by its terms is made as of a
specified date shall be required to be true and correct only as of such specified date), or, if
not, all respects in which they are not, and (Z) certifying whether there has been compliance by
the Borrower with the covenant contained in Section 8.13 hereof (and providing calculations related
to any exclusions of Net Operating Income as permitted by said Section 8.13);

     (c) within ninety (90) days after the end of each fiscal year of the Borrower and forthwith
upon the Agent’s reasonable request, an operational budget of the Borrower in form

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and substance substantially the same as the operational budgets delivered by the Borrower to
the Agent on or before the Restatement Effective Date;

     (d) forthwith upon the Agent’s or any Bank’s written request, such other information about the
financial condition, properties and operations of the Borrower and its Subsidiaries, including, but
not limited to, financial statements, management letters of accountants addressed to the Parent or
the Borrower, rent rolls and other similar information for each Subsidiary of the Borrower, in each
case as the Agent or such Bank may from time to time reasonably request;

     (e) within forty-five (45) days (or fifty (50) days so long as the Parent shall not have
reported an Event of Default to the Securities and Exchange Commission during such fiscal period or
on its most recent filing with the Securities and Exchange Commission) after the end of each fiscal
quarter of the Borrower, each of the following:

          (i) a report setting forth (w) the principal amounts of all Indebtedness originated or
acquired by FCCC that is outstanding to non-affiliated third parties, (x) a statement of the
aggregate notional amount of all Total Rate of Return Swaps on which FCCC is obligated as of
the last day of such fiscal quarter, the aggregate amount of the cash risk to FCCC in
respect of such Total Rate of Return Swaps as of the last day of such fiscal quarter and, if
secured, the asset or assets securing such Total Rate of Return Swaps, (y) information, in
sufficient detail, demonstrating whether there has been compliance by the Subsidiaries of
the Borrower with the limitations set forth in Section 8.15 hereof with respect to the
pledging of second assets permitted under such Section 8.15 to secure Permitted Debt and (z)
information, in sufficient detail, demonstrating whether there has been compliance by FCCC
with the limitations set forth in Section 8.15 hereof with respect to the pledging of
additional collateral permitted by such Section 8.15;

          (ii) an updated list of entities in which the Agent, for the benefit of itself and the
Banks, has received a pledge of the equity interests and/or distribution interests by the
Borrower as part of the Collateral (each a “Pledged Entity”) and such information with
respect to each such Pledged Entity as is contemplated by Exhibit A to the Pledge Agreement,
together with (x) information as to the type of ownership interest of each such Pledged
Entity held by the Borrower and (y) an updated list of entities directly or indirectly owned
by each such Pledged Entity which own (whether in fee or under a ground lease) real property
(such directly or indirectly owned entities the “Property Owning Entities”) and the
corresponding address or location and, if any, common name of such real property; and

          (iii) a schedule of non-recurring partial amortization payments on maturing
Indebtedness of the Borrower and its Subsidiaries and a schedule of non-recourse mortgage
Indebtedness of the Borrower and its Subsidiaries Retired at a discount, to the extent any
such payment or Retirement is made pursuant to Section 9.8(a)(ii) of the Guaranty, each in
form and substance reasonably satisfactory to the Agent;

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     (f) concurrently with furnishing any covenant compliance certification under Section 7.05(a)
or (b) above, such schedules, details and explanations supporting the calculations contained in
such certification as may be reasonably required by the Agent;

     (g) within one hundred twenty (120) days after the end of each fiscal year of the Borrower, a
calculation of the consolidated leverage of the Borrower as of the last day of such fiscal year,
with such details and explanations as may be reasonably required by the Banks;

     (h) within five (5) Cleveland Banking Days of making any tender offer (whether public or
private) for the retirement or redemption of the 2006 Puttable Senior Notes or the 2009 Puttable
Senior Notes, notice of the terms of any such tender offer;

     (i) promptly following demand of the Agent following the occurrence and during the continuance
of a Material Possible Default or an Event of Default, an updated list of Pledged Entities and such
information with respect to each such Pledged Entity as is contemplated by Exhibit A to the Pledge
Agreement, together with (x) information as to the percentage and type of ownership interest of
each such Pledged Entity, (y) an updated list of Property Owning Entities and the corresponding
address or location and, if any, common name of the applicable real property and (z) such
information as the Agent may request with respect to any entity owned by a Pledged Entity which in
turn owns any Property Owing Entity, including, without limitation, the percentage and type of
ownership interest that each such Pledged Entity holds in such entity and that each such entity
holds in any Property Owning Entity;

     (j) within five (5) Cleveland Banking Days of the end of each calendar month, a summary
accounting of the uses of the Permitted Distributions made during the immediately preceding
calendar month, such certification and summary accounting to otherwise be in form and substance
reasonably satisfactory to the Agent; and

     (k) at least ten (10) days in advance of entering into any proposed amendment to or
modification of any loan permitted by Section 8.06(b) hereof, which loan is secured by a Lien
permitted by Section 8.05(e) hereof, a copy of such proposed amendment or modification, whether or
not the Guarantor believes that the consent of the Agent is needed therefor pursuant to 8.05(e)
hereof.

     SECTION 7.06. INSPECTION. The Borrower will, and will cause each Subsidiary to,
permit its properties and records to be examined at all reasonable times and upon reasonable notice
by the Agent and each of the Banks and discuss the affairs, finances and accounts of the Borrower
and its Subsidiaries with, and be advised as to the same by, their respective executive officers,
partners or members (or those officers who report directly to any of them), all at such reasonable
times and intervals as the Agent or any Bank may reasonably request.

     SECTION 7.07. ENVIRONMENTAL COMPLIANCE. The Borrower will comply, and will cause each
Subsidiary to comply, in all material respects with any and all Environmental Laws including,
without limitation, all Environmental Laws in jurisdictions in which the Borrower or any Subsidiary
owns property, operates, arranges for disposal or treatment of hazardous substances, solid waste or
other wastes, accepts for transport any hazardous substances, solid waste or other wastes or holds
any interest in real property or

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otherwise. The Borrower will furnish to the Banks promptly after receipt thereof a copy of
any notice the Borrower or any Subsidiary may receive from any governmental authority, private
person or entity or otherwise that any litigation or proceeding pertaining to any environmental,
health or safety matter has been filed or is threatened against the Borrower or such Subsidiary,
any real property in which the Borrower or such Subsidiary holds any interest or any past or
present operation of the Borrower or such Subsidiary. The Borrower will not, and will not
knowingly allow any other Person to, store, release or dispose of hazardous waste, solid waste or
other wastes on, under or to any real property in which the Borrower holds any direct or indirect
interest or performs any of its operations, in violation of any Environmental Law. As used in this
subsection “litigation or proceeding” means any demand, claim, notice, suit, suit in equity,
action, administrative action, investigation or inquiry whether brought by any governmental
authority, private person or entity or otherwise. The Borrower shall defend, indemnify and hold
harmless the Banks against all costs, expenses, claims, damages, penalties and liabilities of every
kind or nature whatsoever (including attorneys’ fees) arising out of or resulting from the
noncompliance of the Borrower or any Subsidiary with any Environmental Law provided that,
so long as and to the extent that the Banks are not required to make any payment or suffer to exist
any unsatisfied judgment, order or assessment against them, the Borrower may pursue rights of
appeal to comply with such Environmental Laws. In any case of noncompliance with any Environmental
Law by a Subsidiary, the Banks’ recourse for indemnity in respect of the matters provided for in
this Section 7.07 shall be limited solely to the property of the Subsidiary holding title to the
property involved in such noncompliance and such recovery shall not be a Lien, or a basis of a
claim of Lien or levy of execution, against either the Borrower’s general assets or the general
assets of any of its Subsidiaries.

     SECTION 7.08. ERISA. (a) At the request of any Bank, the Borrower will deliver to
such Bank a complete copy of the annual report (Form 5500) of each Plan required to be filed with
the Internal Revenue Service. In addition to any certificates or notes delivered to the Banks
pursuant to this Section 7.08, copies of any notices received by, or delivered to the Internal
Revenue Service or any other governmental agency by, the Borrower or any Subsidiary of the Borrower
or any ERISA Affiliate with respect to any Plan shall be delivered to the Banks no later than
ten (10) days after the date such notice has been filed with the Internal Revenue Service or the
PBGC or such notice has been received by the Borrower or such Subsidiary or such ERISA Affiliate,
as applicable.

     (b) As soon as possible and, in any event, within ten (10) days after the Borrower, any of its
Subsidiaries or any ERISA Affiliate knows or has reason to know of the occurrence of any of the
following, the Borrower will deliver to each of the Banks a certificate of an authorized officer of
the Borrower setting forth details as to the occurrence and such action, if any, which the
Borrower, such Subsidiary or such ERISA Affiliate is required or proposes to take, together with
any notices required or proposed to be given to or filed with or by the Borrower, such Subsidiary,
such ERISA Affiliate, the PBGC, any governmental agency, a Plan participant or the Plan
administrator with respect thereto:

          (i) that a Reportable Event has occurred;

          (ii) that an accumulated funding deficiency has been incurred or any application may be
or has been made to the Secretary of the Treasury for a waiver or

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modification of the minimum funding standard (including any required installment
payments) or an extension of any amortization period under Section 412 of the Code with
respect to a Plan;

          (iii) that a contribution required to be made to a Plan has not been timely made;

          (iv) that a Plan has been or may be terminated, reorganized, partitioned or declared
insolvent under Title IV of ERISA;

          (v) that a Plan has an Unfunded Current Liability giving rise to a Lien under ERISA or
the Code;

          (vi) that proceedings may be or have been instituted to terminate or appoint a trustee
to administer a Plan;

          (vii) that a proceeding has been instituted pursuant to Section 515 of ERISA to collect
a delinquent contribution to a Plan;

          (viii) that the Borrower, any of its Subsidiaries or any ERISA Affiliate will or may
incur any liability (including any indirect, contingent or secondary liability) to or on
account of the termination of or withdrawal (including a partial withdrawal) from a Plan
under Section 4062, 4069, 4201, 4204 or 4212 of ERISA or with respect to a Plan under
Section 401(a)(29), 4971, 4975, or 4980 of the Code or Sections 409 or 502(i) or 501(1) of
ERISA;

          (ix) that the Borrower, any of its Subsidiaries or any ERISA Affiliate may incur any
material liability pursuant to any employee welfare benefit plan (as defined in Section 3(1)
of ERISA) that provides benefits to retired employees or other former employees (other than
as required by Section 601 of ERISA) or any employee pension benefit plan (as defined in
Section 3(2) of ERISA);

          (x) with respect to any Multiemployer Plan, the following: (a) the imposition on any of
the Borrower, its Subsidiaries, or any ERISA Affiliates of a “withdrawal liability” (as
defined in Section 4201 of ERISA), (b) a determination that such Multiemployer Plan is or is
expected to be in reorganization (as defined in Section 4241 of ERISA), endangered, or
critical status (under Section 305 of ERISA), in circumstances that could reasonably be
expected to result in material liability to the Borrower, its Subsidiaries, or any ERISA
Affiliate, (c) the termination of such Multiemployer Plan, (d) liability incurred or
expected to be incurred by the Borrower, its Subsidiaries, or any ERISA Affiliates in
connection with an event described in this subsection or the withdrawal by any of them from
such Multiemployer Plan during a plan year;

          (xi) that a Plan has engaged in a non-exempt prohibited transaction within the meaning
of Section 4975 of the Code or Section 406 of ERISA;

          (xii) that the Borrower, its Subsidiaries, or any ERISA Affiliate adopts or commences
contributions to any Plan;

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          (xiii) that the Borrower, its Subsidiaries, or any ERISA Affiliate adopts any amendment
to a Plan subject to Section 412 of the Code which results in a material increase in
contribution obligations of the Borrower, its Subsidiaries, or any ERISA Affiliate; or

          (xiv) that any other event or condition may occur that might reasonably be expected to
constitute grounds under Section 4042 of ERISA for the termination of, or for the
appointment of a trustee to administer, any Plan, other than a standard termination.

     SECTION 7.09. INSURANCE. The Borrower will and will cause each of its Subsidiaries to
(a) keep itself and all of its insurable properties insured at all times to such extent, by such
insurers, and against such hazards and liabilities as is generally and prudently done by like
businesses, it being understood that the Parent, the Borrower and each Subsidiary has obtained a
fidelity bond for each of its employees that handles funds, (b) give the Agent prompt written
notice of each material reduction or adverse change in the Borrower’s or any Subsidiary’s insurance
coverage and the details of such reduction or such change and (c) forthwith upon any Bank’s or the
Agent’s written request, furnish to each Bank and the Agent such information about the Borrower’s
or any Subsidiary’s insurance as any Bank or the Agent, as applicable, may from time to time
reasonably request.

     SECTION 7.10. MONEY OBLIGATIONS. The Borrower will and will cause each Subsidiary to
pay in full (a) prior in each case to the date when penalties would attach, all taxes, assessments
and governmental charges and levies (except only those so long as and to the extent that the same
shall be contested in good faith by appropriate and timely proceedings diligently pursued) and
there shall be set aside on such Subsidiary’s books such reserves with respect thereto as are
required by GAAP) for which it may be or become liable or to which any or all of its properties may
be or become subject, (b) all of its wage obligations to its employees in compliance with the Fair
Labor Standards Act (29 U.S.C. §§206-207) or any comparable provisions, and (c) all of its other
obligations calling for the payment of money (except only those so long as and to the extent that
the same shall be contested in good faith by appropriate and timely proceedings diligently pursued)
before such payment becomes overdue; except where the failure to make any such payment, either
singly or in the aggregate, would not have a Material Adverse Effect and provided, that the
Borrower shall promptly give written notice to the Agent of any such non-payments, which written
notice the Agent will promptly deliver to each Bank.

     SECTION 7.11. RECORDS. The Borrower will and will cause each Subsidiary to (a) at all
times maintain true and complete records and books of account, and without limiting the generality
of the foregoing, maintain appropriate reserves for possible losses and liabilities, all in
accordance with GAAP applied on a basis not inconsistent with its present accounting procedures,
and (b) at all reasonable times and upon reasonable notice permit any Bank to examine the
Borrower’s or any Subsidiary’s books and records and to make excerpts therefrom and transcripts
thereof. The Banks shall use good faith efforts to coordinate any visits or inspections so as to
minimize the interference with and disruption to the normal business operations of the Borrower and
its Subsidiaries.

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     SECTION 7.12. FRANCHISES. The Borrower will and will cause each Subsidiary to
preserve and maintain at all times its corporate existence, rights and franchises;
provided, that this Section 7.12 shall not prohibit any merger, consolidation, dissolution
or transfer permitted by Section 8.02 hereof.

     SECTION 7.13. NOTICE. The Borrower will cause its Chief Financial Officer, or in his
or her absence another officer designated by such Chief Financial Officer, to promptly, and in any
event within five (5) Cleveland Banking Days after any officer of the Borrower or any or its
Subsidiaries obtains knowledge thereof, notify the Banks whenever:

     (a) any representation or warranty made in Article IX hereof or elsewhere in this Agreement or
in any Related Writing may for any reason cease in any material respect to be true and complete
(or, as to any representation or warranty that expressly relates to an earlier date, such
representation or warranty may for any reason cease in any material respect to be true and complete
as of such earlier date); and/or

     (b) (i) any Subsidiary shall be in default of any material (with respect to the Borrower)
obligation for the payment of borrowed money or a Contingent Obligation or, to the knowledge of the
Borrower, any material obligations in respect of taxes and/or Indebtedness for goods or services
purchased by, or other contractual obligations of, such Subsidiary (it being understood and agreed
that for purposes of this clause (i) a “material” obligation of such Subsidiary with respect to the
Borrower shall include any non-recourse Indebtedness constituting in principal amount more than ten
percent (10%) of the aggregate non-recourse Indebtedness of the Borrower and its Subsidiaries)
and/or (ii) any Subsidiary shall not, to the knowledge of Borrower, be in compliance with any law,
order, rule, judgment, ordinance, regulation, license, franchise, lease or other agreement that has
or could reasonably be expected to have a Material Adverse Effect, and/or (iii) the Borrower and/or
any Subsidiary shall have received notice, or have knowledge, of any actual, pending or threatened
claim, notice, litigation, citation, proceeding, or demand relating to any matter(s) described in
subsections (i) and (ii) of this Section 7.13(b); and/or

     (c) the Borrower shall be in default of any guarantee permitted by Section 8.07(b) hereof.

     SECTION 7.14. POST CLOSING ITEMS. The Borrower will promptly perform and complete to
the satisfaction of the Agent each of the matters, if any, set forth on Schedule 7.14 attached
hereto (the “Post Closing Items”) on or before the date set forth on said Schedule 7.14 for the
performance and completion thereof (the “Satisfaction Date”).

     SECTION 7.15. FURTHER ASSURANCES; REPLACEMENT NOTES. (a) The Borrower agrees to
execute and deliver to the Agent and/or the Banks any agreements, documents and instruments,
including, without limitation, additional Notes as replacements or substitutions as may reasonably
be required by the Agent and/or the Banks, and to take such other actions as reasonably requested
by the Agent to effect the transactions contemplated hereby.

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     (b) Upon the receipt by the Borrower of a lost note affidavit of an officer of a Bank as to
the loss, theft, destruction or mutilation of its Note or any other security document that is not
of public record together with an appropriate indemnity, upon the cancellation of any such Note or
other security document, as applicable, the Borrower shall issue, in lieu thereof, a replacement
Note or other security document, as applicable, in the same principal amount thereof and otherwise
of like tenor.

     SECTION 7.16. NOTICE OF DEFAULT OR LITIGATION. Promptly, and in any event within five
(5) Cleveland Banking Days after any officer of the Borrower or any of its Subsidiaries obtains
knowledge thereof, the Borrower will deliver notice to the Banks of (a) the occurrence of any event
which constitutes a Possible Default or Event of Default, which notice shall specify the nature
thereof, the period of existence thereof and what action the Borrower proposes to take with respect
thereto, and (b) the commencement of, or written threat of, or any significant development in, any
litigation or governmental proceeding pending against the Borrower or any of its Subsidiaries which
is likely to have a Material Adverse Effect.

     SECTION 7.17. USE OF PROCEEDS. All proceeds of the Revolving Loans shall be used as
provided in Section 2.04 hereof and all proceeds of the Swing Loans shall be used as provided in
Section 2.07(e) hereof.

ARTICLE VIII

NEGATIVE COVENANTS

     The Borrower covenants and agrees that as of the Restatement Effective Date, and thereafter
for so long as this Agreement is in effect and until the Commitments and all Letters of Credit are
terminated or cancelled or expire, no Notes are outstanding and the Loans, together with interest,
fees and all other obligations incurred hereunder, are paid in full, the Borrower will observe all
of the following provisions, namely:

     SECTION 8.01. PLAN. None of the Borrower, any of its Subsidiaries or any ERISA
Affiliate will suffer or permit any Plan to be amended if, as a result of such amendment, the
Unfunded Current Liability under such Plan is increased so that the actuarial present value of the
accumulated plan benefits under such Plan is less than sixty percent (60%) of the fair market value
of the assets of such Plan, as determined in accordance with Section 412 of the Code, or results in
any increase in liability that has a Material Adverse Effect.

     SECTION 8.02. COMBINATIONS. The Borrower will not dissolve or liquidate, and will not
permit any Subsidiary to dissolve or liquidate, except in the ordinary course of business, in any
event, and to the extent that no Material Adverse Effect is thereby suffered. The Borrower will
not and will not permit any Subsidiary to be a party to any consolidation or merger;
provided, that this Section 8.02 shall not apply to (i) any merger of a Subsidiary into the
Borrower (with the Borrower being the surviving corporation) or into another Subsidiary, or (ii)
any consolidation of a Subsidiary with another Subsidiary.

     SECTION 8.03. BULK TRANSFERS. The Borrower will not and will not permit a Subsidiary
to be a party to any lease, sale or other transfer involving all or a substantial part of the
assets of the Borrower and its Subsidiaries as a whole; provided, that this Section 8.03
shall

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not apply to (a) any transfer of assets by a Subsidiary to the Borrower or another Subsidiary,
(b) the transfer of assets to a trustee (other than a trustee for the benefit of creditors) in
connection with a building project involving such assets, or (c) any transfer effected in the
normal course of business and on commercially reasonable terms.

     SECTION 8.04. BORROWINGS. The Borrower will not and will not permit any Subsidiary to
create, assume or suffer to exist any unsecured or secured Indebtedness of any kind or any
reimbursement obligation or other similar liabilities with respect to letters of credit issued for
the Borrower’s or any Subsidiary’s account (other than non-recourse letters of credit or surety
bonds issued as credit enhancement); provided, that this Section 8.04 shall not apply to
the following (collectively, “Permitted Debt”):

     (a) any Loans obtained hereunder and Letters of Credit issued hereunder;

     (b) any secured Indebtedness of the Borrower or of any Subsidiary created in the course of
purchasing or developing real estate or financing construction or other improvements thereon or
purchasing furniture, fixtures or other equipment therefor or any other related Indebtedness of the
Borrower or of any Subsidiary or any refinancings thereof, provided, that neither the
Borrower nor any Subsidiary (other than a Subsidiary whose sole assets consist of contiguous
parcels of land which are being purchased or developed with such financing, the improvements, if
any, thereon, furniture, fixtures and other equipment used in connection therewith, receivables
arising from tenants in connection therewith and the proceeds of such receivables and other
property directly obtained from the ownership of such assets) shall have any personal liability for
such Indebtedness (except for Indebtedness permitted in Section 8.07(e) hereof), the creditors’
recourse being solely to the property being pledged as collateral for such Indebtedness and the
income therefrom;

     (c) Indebtedness of the Borrower or of any Subsidiary (other than any SPE Subsidiary) under
any Hedge Agreement relating to Indebtedness otherwise permitted under this Section 8.04,
provided, that, any Hedge Agreement proposed to be entered into or guaranteed by the
Borrower, FCCC or any other Subsidiary of the Borrower (other than a SPE Subsidiary), along with
all Hedge Agreements entered into or guaranteed by the Parent, in each case with a Person that is
not a Bank, that results in a Measured Credit Risk for all such Hedge Agreements entered into with
Persons other than a Bank, in excess of Thirty Three Million Five Hundred Thousand Dollars
($33,500,000), shall require the prior written consent of the Required Banks (such written consent
to be delivered by each consenting Bank to the Agent not more than three (3) Cleveland Banking Days
after the request for such consent has been delivered by the Borrower to the Agent,
provided, that, each Bank that does not deliver such written consent within such three (3)
Cleveland Banking Day period shall be deemed to have denied the request for such Hedge Agreement);

     (d) Indebtedness of any SPE Subsidiary under (i) Hedge Agreements or (ii) Total Rate of Return
Swaps relating to Indebtedness otherwise permitted under this Section 8.04, in all cases under the
foregoing clauses (i) and (ii), that are recourse solely to such SPE Subsidiary;

     (e) Indebtedness owed by a Subsidiary or the Borrower as permitted by Section 8.06(b) hereof;

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     (f) any guarantee or indemnity permitted by Section 8.07 hereof to the extent such guarantee
or indemnity constitutes Indebtedness;

     (g) Indebtedness of FCCC in favor of non-affiliated third parties, including, without
limitation, Total Rate of Return Swaps, up to a maximum principal amount outstanding at any time of
Two Hundred Million Dollars ($200,000,000), to be used solely for the purposes of (i) originating
loans to non-affiliated third parties (subject to the limitations set forth in Section 8.06(e)
hereof) and Affiliates of FCCC, (ii) acquiring loans, promissory notes and bonds issued by
non-affiliated third parties (subject to the limitations set forth in Section 8.06(e) hereof) and
(iii) entering into Total Rate of Return Swaps;

     (h) Indebtedness of any Subsidiary of the Borrower incurred to pay the relevant seller the
Consideration required in connection with a Multi-Asset Acquisition by such Subsidiary, so long as
such Indebtedness (i) along with all other Consideration paid (and/or assumed) in connection with
such Multi-Asset Acquisition (or series of related Multi-Asset Acquisitions), does not exceed Two
Hundred Million Dollars ($200,000,000) in an aggregate principal amount outstanding at any time and
(ii) along with the total Consideration paid (and/or assumed) by all Subsidiaries in connection
with Multi-Asset Acquisitions, does not exceed Eight Hundred Million Dollars ($800,000,000) in an
aggregate principal amount outstanding at any time;

     (i) Indebtedness assumed by a Subsidiary in connection with a Multi-Asset Acquisition, so long
as such Indebtedness (i) existed at the time of such Multi-Asset Acquisition, (ii) was not incurred
in contemplation of such Multi-Asset Acquisition, (iii) along with all other Consideration paid
(and/or assumed) by such Subsidiary in connection with such Multi-Asset Acquisition (or series of
Multi-Asset Acquisitions), does not exceed Two Hundred Million Dollars ($200,000,000) in an
aggregate principal amount outstanding at any time and (iv) along with the total Consideration paid
(and/or assumed) by all Subsidiaries in connection with Multi-Asset Acquisitions, does not exceed
Eight Hundred Million Dollars ($800,000,000) in an aggregate principal amount outstanding at any
time;

     (j) Indebtedness of the Borrower, up to a maximum principal amount outstanding at any time of
Five Million Dollars ($5,000,000), which is incurred in the ordinary course of business;
provided that all Indebtedness incurred under Section 9.10(o) of the Guaranty shall be
included, without duplication, in calculating whether the dollar limitation contained in this
clause (j) has been met; and

     (k) leases required to be capitalized under Financial Accounting Standards Board Standard No.
13 in the aggregate amount for the Borrower and its Subsidiaries of Eighteen Million Dollars
($18,000,000); provided that (i) the foregoing dollar limitation shall not apply to any
such capitalized lease, the obligations of which are not recourse to the Parent or the Borrower or
any of its Subsidiaries (other than Barclays Event Center, LLC, a Delaware limited liability
company) and which relates solely to the Atlantic Yards Arena project located in Brooklyn, New York
and (ii) all Indebtedness incurred under Section 9.10(e) of the Guaranty shall be included, without
duplication, in calculating whether the dollar limitation contained in this clause (k) has been
met.

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     SECTION 8.05. LIENS. The Borrower will not and will not permit any Subsidiary to
acquire any property subject to any inventory consignment, land contract or other title retention
contract; other than the periodic sale by the Borrower or any Subsidiary of any mortgages held by
the Borrower or such Subsidiary, sell or otherwise transfer any receivables, or suffer or permit
any property now owned or hereafter acquired by it to be or become encumbered by any mortgage,
security interest, financing statement or Lien of any kind or nature or subject to any negative
pledge (except (i) any negative pledge in effect on the Restatement Effective Date and (ii) any due
on sale or transfer provisions entered into or which become binding upon the Borrower or any
Subsidiary after the Restatement Effective Date in the ordinary course of business and which
restrict “upper tier” sales and other transfers of interests in entities within the chain of
ownership of any property owned by a Subsidiary of the Borrower) other than:

     (a) any Lien for a tax, assessment or governmental charge or levy so long as the payment
thereof is not at the time required by Sections 7.04 and/or 7.10 hereof;

     (b) any Lien securing only its workers’ compensation, unemployment insurance and similar
obligations;

     (c) any mechanic’s, carrier’s or similar common law or statutory Lien incurred in the normal
course of business;

     (d) any transfer of a check or other medium of payment for deposit or collection through
normal banking channels or any similar transaction in the normal course of business;

     (e) any mortgage, security interest or other Lien securing only Indebtedness permitted by
Section 8.04(b) or 8.06(b) hereof; provided that (A) any loan permitted by Section 8.06(b)
hereof is made solely for the purpose of generating or facilitating the generation of External
Capital and (B) the Agent shall have provided its prior written consent to such transaction and to
any material modifications to the terms thereof;

     (f) any Lien permitted by Section 8.15 hereof;

     (g) any transfer of receivables without recourse;

     (h) any assignment of rents, profits and/or cash flows derived from particular real estate
given as additional security to a mortgage or security interest on such real estate permitted by
this Section 8.05, provided, that the mortgage or security interest encumbers only the real
property in question;

     (i) any financing statement perfecting a security interest permitted by this Section 8.05;

     (j) easements, restrictions, minor title irregularities and similar matters having no adverse
effect as a practical matter on the ownership or use of the Borrower’s or any Subsidiary’s real
property;

     (k) any mortgage, security interest and Lien securing any Debt incurred to the Banks under
this Agreement;

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     (l) subject to Section 8.15 hereof, any Lien granted by FCCC to secure Indebtedness permitted
by Section 8.04(g) hereof;

     (m) subject to Section 8.15 hereof, any Lien granted by a Subsidiary of the Borrower to secure
Indebtedness of such Subsidiary permitted by Section 8.04(h) hereof, provided, that the
Lien is limited solely to those assets being acquired with such Indebtedness;

     (n) any Lien on assets securing Indebtedness permitted under Section 8.04(i) hereof,
provided, that any such Lien shall only secure the obligations that it secures on the date
of the applicable Multi-Asset Acquisition and does not extend to any other property of any
Subsidiary of the Borrower; and

     (o) any sale, assignment or other transfer by FCCC of all or any portions of the loans, bonds,
promissory notes or other evidences of Indebtedness originated or acquired by FCCC in the ordinary
course of its business.

     SECTION 8.06. LOANS RECEIVABLE. The Borrower will not and will not permit any
Subsidiary to knowingly make or have outstanding at any time to any third party, any advance or
loan of any kind other than:

     (a) any loan secured by mortgages on real estate, or a pledge of direct or indirect equity
interests in a real estate owning entity, and not exceeding eighty percent (80%) of the value of
the real estate as of the date the mortgage is incurred and as appraised by an experienced
appraiser on or about such date;

     (b) any loan from the Borrower to any of its Subsidiaries or from a Subsidiary of the Borrower
to another Subsidiary of the Borrower or from a Subsidiary to the Borrower; provided, that
(i) such loans shall be made only in the ordinary course of business, (ii) any such loan from a
Subsidiary to the Borrower shall be subordinated in all respects to the Borrower’s Debt to the
Banks on such terms and conditions as may be satisfactory to the Banks, and (iii) other than in
connection with a transaction that satisfies the requirements of Section 8.05(e) hereof or any loan
permitted by this Section 8.06(b) which loan is made solely for the purpose of generating or
facilitating the generation of External Capital and to which the Agent shall have provided its
prior written consent (including as to any material modifications to the terms thereof), Borrower
shall not cause or permit any Subsidiary to take any action to enforce payment of any loan made by
such Subsidiary to another Subsidiary or the Borrower without the prior written consent of the
Required Banks;

     (c) any advance or loan made in the normal course of business of acquiring properties for, or
selling or developing properties of, the Borrower or any Subsidiary;

     (d) any Permitted Non-Affiliate Loan, provided, that (i) such Permitted Non-Affiliate
Loan is secured either by (A) a pledge of all or substantially all of the equity interests in the
Non-Affiliated Entity that owns the Non-Affiliate Construction Project or (B) a first or second
priority mortgage lien on the related Non-Affiliate Construction Project, and (ii) the aggregate
outstanding principal amount of all such Permitted Non-Affiliate Loans shall not exceed Two Hundred
Million Dollars ($200,000,000) at any time; and

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     (e) any Indebtedness, whether secured or unsecured, issued by non-affiliated third parties to
FCCC (or such other Subsidiary or Subsidiaries of the Borrower as the Agent may approve in writing
in its reasonable discretion) as lender, up to a maximum principal amount outstanding at any time
of Two Hundred Million Dollars ($200,000,000). For purposes of calculating the maximum principal
amount of such Indebtedness outstanding on the relevant date of calculation, the following
Indebtedness that is outstanding on such date of calculation will not be included in such
calculation: (i) any Indebtedness that FCCC (or any such other Subsidiary of the Borrower so
approved in writing by the Agent) has assigned to other non-affiliated third parties, (ii) any
fully-funded, non-revolving Indebtedness that FCCC (or any such other Subsidiary of the Borrower so
approved in writing by the Agent) has participated out to non-affiliated third parties, but only to
the extent such Indebtedness has been insured by the Federal Housing Administration (or any
successor to such agency), and (iii) the aggregate principal amount of all loans made by FCCC (or
any such other Subsidiary of the Borrower so approved in writing by the Agent) to non-affiliated
third parties as permitted by Section 8.06(a) hereof.

     SECTION 8.07. GUARANTEES. The Borrower will not and will not permit any Subsidiary to
pledge its credit or property in any manner for the payment or other performance of any
Indebtedness, contract or other obligation of another (including, without limitation, the
Indebtedness of the Parent under any of the Senior Notes), whether as guarantor (whether of payment
or of collection), surety, co-maker, endorser or by agreeing conditionally or otherwise to make any
purchase, loan or investment in order thereby to enable another to prevent or correct a default of
any kind, or otherwise, except for:

     (a) endorsements of negotiable instruments for deposit or collection or similar transactions
in the normal course of business;

     (b) any guarantee set forth on Schedule 9.22 attached hereto;

     (c) any indemnity or guarantee of a surety bond for the performance by a customer of the
Borrower or any Subsidiary of such customer’s obligations under a land development contract;

     (d) any unsecured guarantee by the Borrower or any of its Subsidiaries of the equity
investment or performance of a Subsidiary (other than any Indebtedness of such Subsidiary incurred
for borrowed money) in connection with a real estate project solely in favor of a partner or a
member, or a partnership or limited liability company in which such Subsidiary is a general partner
or a member, as applicable, when the Borrower or such Subsidiary, as the case may be, deems it to
be in its best interest not to be a partner, a member or have a direct interest in the partnership
or the limited liability company, as applicable;

     (e) any guarantee or indemnity by the Borrower or any of its Subsidiaries for fraud,
misappropriation, misapplication or environmental problems, as are usual and customary in
commercial mortgage loan transactions entered into by the Borrower and/or its Subsidiaries,
provided that such a guarantee or indemnity may be given by the Borrower or a Subsidiary,
but not both (unless such Subsidiary is also the borrower in the particular commercial mortgage
loan transaction), in connection with any particular commercial mortgage loan transaction;

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     (f) any guarantee by the Borrower of an unsecured hedge agreement entered into by a Subsidiary
and with a maturity date of not more than twelve (12) months following the date of such hedge
agreement; and

     (g) subject to the limitations set forth in Section 8.04(c) hereof, any guarantee entered into
by the Borrower or a Subsidiary of the Borrower in connection with a Hedge Agreement permitted
under such Section 8.04(c).

     SECTION 8.08. AMENDMENT OF ARTICLES OF INCORPORATION AND/OR REGULATIONS; AMENDMENT OF
SUBORDINATION AGREEMENTS. The Borrower will not amend, modify or supplement its articles of
incorporation or its code of regulations in any material respect that would be detrimental to the
performance by the Borrower of its obligations under this Agreement, the Notes or any other Related
Writing to which it is a party or the rights of the Agents or the Banks under this Agreement, the
Notes or any such other Related Writing. Neither the Borrower nor the Parent shall amend,
supplement or otherwise modify any Subordination Agreement without the prior written consent of the
Agent.

     SECTION 8.09. FISCAL YEAR. Except as required by law, or required in connection with
a transaction permitted under Section 8.02 hereof, the Borrower will not change its fiscal year
without the consent of the Banks, which consent shall not be unreasonably withheld.

     SECTION 8.10. REGULATION U. The Borrower will not, and will not permit its
Subsidiaries to, directly or indirectly, (a) apply any part of the proceeds of any Loan to the
purchasing or carrying of any “margin stock” or “margin security” within the meaning of Regulations
T, U or X of the Federal Reserve Board, or any regulations, interpretations or rulings thereunder,
(b) extend credit to others for the purpose of purchasing or carrying any such margin stock or
margin security, or (c) retire Indebtedness which was incurred to purchase or carry any such margin
stock or margin security.

     SECTION 8.11. NO PLEDGE. (a) The Borrower will not, and will not permit any of its
Subsidiaries to, sell, assign, pledge or otherwise dispose of or encumber any of its or their
partnership interests or other equity interests in any of its or their Subsidiaries, except as
permitted under Section 8.02 hereof, and except that the Borrower and each Subsidiary shall be
permitted to pledge its stock or other ownership interests in any of its or their Subsidiaries (x)
to secure the Debt or (y) that is a single asset or special purpose entity (each, a “Pledged
Subsidiary”) to secure the following:

     (i) additional or mezzanine Indebtedness incurred with respect to a project encumbered
by a first mortgage at the time the additional or mezzanine Indebtedness is incurred, so
long as such additional or mezzanine Indebtedness is permitted under Section 8.04 hereof;
provided that the sum of the then existing Indebtedness with respect to such project
plus such additional or mezzanine Indebtedness does not exceed eighty percent (80%)
of the appraised value of the project as determined by an experienced appraiser at the time
such additional or mezzanine Indebtedness is incurred;

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     (ii) primary Indebtedness (or the refinancing thereof) incurred or assumed solely with
respect to the acquisition of real property or for construction or redevelopment purposes,
so long as such primary Indebtedness is permitted under Section 8.04 hereof,
provided that such primary Indebtedness (or the refinancing thereof) does not exceed
one hundred percent (100%) of the appraised value of the acquired property at the time of
such financing or refinancing, as applicable; or

     (iii) any Indebtedness incurred under Section 8.06(b) hereof in connection with a
transaction permitted under Section 8.05(e) hereof.

     (b) In addition to the foregoing, except to the extent permitted by Section 8.15(b)(i) hereof,
(i) such pledges of stock or other ownership interests in a Pledged Subsidiary under Sections
8.11(a)(i) and (ii) may only be made to secure Indebtedness incurred with respect to a project
owned or to be acquired by such Pledged Subsidiary and not to secure Indebtedness incurred with
respect to a project owned or to be acquired by any other Subsidiary; (ii) such pledges of stock or
other ownership interests in a Pledged Subsidiary given to secure Indebtedness described in Section
8.11(a)(i) above may only secure the additional or mezzanine Indebtedness being incurred with
respect to such project, (iii) such pledges of stock or other ownership interest in a Pledged
Subsidiary given to secure Indebtedness described in Section 8.11(a)(ii) above may only secure the
primary Indebtedness being incurred with respect to the acquisition of such real property or such
construction or redevelopment purposes and (iv) such pledges of stock or other ownership interests
in a Pledged Subsidiary given to secure Indebtedness described in Section 8.11(a)(iii) above may
only secure the Indebtedness incurred under Section 8.06(b) hereof in connection with a transaction
permitted under Section 8.05(e) hereof.

     (c) The Borrower will deliver to the Agents and the Banks an updated schedule in the form of
Schedule 9.9 to the Guaranty listing all of the properties as to which a pledge of stock or other
ownership interest has been provided to a lender in accordance with this Section 8.11, within
forty-five (45) days after each Fiscal Quarterly Date.

     (d) Notwithstanding the foregoing, any Subsidiary of the Borrower may pledge any stock or
other ownership interests it acquires in a Multi-Asset Acquisition to secure the Indebtedness
permitted to be incurred by such Subsidiary under Sections 8.04(h) and (i) hereof, provided
that such pledge is limited solely to the stock or other ownership interest being acquired and such
pledge is limited to the obligations that it secures on the date of the applicable Multi-Asset
Acquisition and does not extend to any other stock or ownership interest held by such Subsidiary or
any other Subsidiary of the Borrower.

     SECTION 8.12. TRANSACTIONS WITH AFFILIATES. Except for loans permitted by Section
8.06 hereof, the Borrower will not, and will not permit any of its Subsidiaries to, enter into any
transaction or series of transactions with any Affiliate other than in the ordinary course of
business and on terms and conditions substantially as favorable as would be obtainable by the
Borrower or such Subsidiary, at the time, in a comparable arm’s-length transaction with a Person
other than an Affiliate.

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     SECTION 8.13. DEBT SERVICE COVERAGE RATIO. The Borrower will not permit the Debt
Service Coverage Ratio in each case for the Test Period ending on each Fiscal Quarterly Date to be
less than 1.30:1.00.

     For purposes of calculating the Debt Service Coverage Ratio, Net Operating Income for recently
completed development or redevelopment properties and debt service on construction and interim
loans, land loans, and other financings secured by such assets shall be excluded until the earlier
of (a) ninety percent (90%) occupancy (based on a rentable square footage basis or, with respect to
any residential property, based on the number of units for such property sold or occupied, as
applicable) of the improvements related to such development property or financed with the proceeds
of any such loan, and (b) twenty-four (24) months following the issuance of a certificate of
occupancy with respect to such improvements, in either case so long as such debt service is covered
by a funded and available loan reserve or a deposit in the form of Cash or a letter of credit with
the applicable lender that is sufficient to cover applicable operating shortfalls and debt service
payments. If such reserve or deposit is insufficient to cover such debt service or is unavailable,
Net Operating Income and such debt service from the applicable assets and financings shall be
included in the calculation of Debt Service Coverage Ratio until such time as such reserve or
deposit is sufficient and available. The Borrower shall provide the Agent with a projection of the
interest reserve or deposit necessary to cover debt service (from the applicable project loan
budget), which shall be subject to the Agent’s reasonable review and approval.

     SECTION 8.14. RESTRICTIONS ON DISTRIBUTIONS, REDEMPTIONS. (a) If any Event of
Default has occurred and is continuing, or if any Event of Default would occur as a result of a
Distribution (as defined below), other than a Payment Default, the Borrower shall not directly or
indirectly declare, make, or pay any Dividends in respect of its Capital Stock or set aside funds
for any such purpose, or, notwithstanding any other provision of this Agreement to the contrary,
make any loans or advances to the Parent (any such Dividends, set aside, loans, or advances are
referred to herein as “Distributions”) in excess of the sum of the amounts (and only the amounts)
sufficient to pay, when due, (i) all interest payments in respect of the Senior Notes, (ii) all
taxes of the Parent and (iii) all customary corporate operating costs, such as regulatory fees,
utilities and employee salaries (x) of the Parent, in an amount (with respect to Distributions made
pursuant to this clause (iii)(x)) not to exceed Five Million Dollars ($5,000,000) annually in the
aggregate and (y) of the Land Group, in an amount (with respect to Distributions made pursuant to
this clause (iii)(y)) not to exceed Five Million Dollars ($5,000,000) annually in the aggregate
(collectively, “Permitted Distributions”), it being understood and agreed that the foregoing
baskets for Permitted Distributions shall be fully available (regardless of any Permitted
Distributions previously made) following any written waiver of such Event of Default or written
affirmative reinstatement of this Agreement to which the applicable Banks may consent in their sole
and absolute discretion; provided, that any Permitted Distributions shall be applied by the
Parent strictly to the permitted uses specified above in this Section 8.14(a) and, in connection
with any Permitted Distributions made pursuant to clause (iii) of this Section 8.14(a) the Borrower
shall provide Agent with the certification and summary accounting required by Section 7.05(j)
hereof. The Borrower will not directly or indirectly purchase, acquire, redeem or retire any
shares of its Capital Stock at any time outstanding or set aside funds for any such purpose.

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     (b) In the event of and during the continuance of Payment Default, or if a Payment Default
would occur as a result of a Distribution, the Borrower shall not directly or indirectly declare or
pay any Distributions to the Parent.

     SECTION 8.15. CROSS COLLATERALIZATION AND CROSS DEFAULTS. (a) Except as permitted in
this Section 8.15, the Borrower shall not and shall not permit any Subsidiary to:

     (i) cross-default or agree to cross-default any Permitted Debt to this Agreement or the
Debt incurred hereunder;

     (ii) agree to any financial covenants based on the performance of the Borrower under
any Permitted Debt (other than the Debt); or

     (iii) Cross-Collateralize, or agree to Cross-Collateralize Indebtedness.

     (b) Notwithstanding Section 8.15(a) above:

     (i) with respect to construction projects which are constructed in multiple phases
and/or stabilized properties, the Borrower and any Subsidiary shall be permitted to
cross-default and/or Cross-Collateralize any Permitted Debt with other Permitted Debt (other
than, in each case, the Debt under this Agreement), but only if the phases to be
Cross-Collateralized and/or cross-defaulted consist of a single identifiable project;

     (ii) under the construction loan agreement or any other relevant documents (other than
a Completion Guaranty) relating to any Permitted Debt (other than the Debt), any Subsidiary
(but not the Borrower) shall be permitted to cross-default or agree to cross-default such
Permitted Debt with this Agreement or the Debt, provided that the construction
lender shall not be permitted to call a default under its construction loan agreement or
other relevant documents due to an Event of Default unless the Banks have provided a written
notice of the Event of Default to the Borrower and all applicable cure periods have lapsed
without the Event of Default being cured; provided, further, that the
construction lender shall not, under any circumstances, be permitted to call upon its
Completion Guaranty, if any, due to an Event of Default;

     (iii) with respect to Hedge Agreements and Total Rate of Return Swaps entered into by
FCCC and permitted by this Agreement or the Guaranty, the related documentation may provide
that an Event of Default will constitute an event of default under such Hedge Agreement or
Total Rate of Return Swap, as applicable, provided that the Hedge Agreement or Total
Rate of Return Swap, as applicable, also provides that the counterparty may not terminate or
exercise any remedy under such Hedge Agreement or Total Rate of Return Swap, as applicable,
on account of any Event of Default unless (1) the Banks have provided a written notice of
the Event of Default to the Borrower, (2) all applicable cure periods have lapsed without
the Event of Default being cured and (3) the Banks may accelerate the maturity of the Debt
on the basis of the Event of Default;

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     (iv) to the extent Permitted Debt of the Borrower or any of its Subsidiaries may be
secured under Section 8.05 hereof, the Borrower may provide Cash or letters of credit as
additional collateral to secure such Permitted Debt;

     (v) Cross-Collateralization that occurs as a result of Liens that may be incurred under
Sections 8.05(m) and (n) hereof in connection with a Multi-Asset Acquisition shall be
permitted;

     (vi) to the extent Permitted Debt of a Subsidiary may be secured under Section 8.05
hereof, any Subsidiary of the Borrower (other than FCCC) may provide a second asset
(including, without limitation, Cash, letters of credit or unencumbered real property) to
secure Permitted Debt of such Subsidiary or one other Subsidiary, so long as (A) the value
of such second asset (excluding Cash and letters of credit) does not exceed Ten Million
Dollars ($10,000,000) and (B) the aggregate value of all such second assets (excluding Cash
and letters of credit) pledged by all Subsidiaries (other than FCCC) to secure Permitted
Debt does not exceed Forty Million Dollars ($40,000,000);

     (vii) FCCC may Cross-Collateralize Indebtedness incurred under one or more Total Rate
of Return Swaps; and

     (viii) FCCC may provide Cash, letters of credit or mortgage loans made by FCCC to any
Subsidiary of the Borrower (provided, that any such mortgage loan shall not exceed
eighty percent (80%) of the value of the applicable mortgaged property, hereinafter referred
to as “80% FCCC Loans”), as additional collateral to secure Permitted Debt owed by the
Borrower or any of its Subsidiaries (other than FCCC), so long as (A) the Permitted Debt may
be secured under Section 8.05 hereof, (B) the aggregate amount of all 80% FCCC Loans so
provided by FCCC in any single transaction (or series of related transactions) does not
exceed Fifteen Million Dollars ($15,000,000) and (C) as of any date of determination, the
aggregate amount of all 80% FCCC Loans provided by FCCC in all such transactions outstanding
at such date does not exceed the sum of One Hundred Twenty Million Dollars ($120,000,000)
minus the aggregate value of all unencumbered real property pledged by all Subsidiaries
(other than FCCC) under Section 8.15(b)(vi) hereof, as of such date.

     SECTION 8.16. [RESERVED].

     SECTION 8.17. CHANGES IN BUSINESS. The Borrower will not, and will not permit any of
its Subsidiaries to, materially alter the character of the business of the Borrower and its
Subsidiaries from that conducted on the Restatement Effective Date.

     SECTION 8.18. ANTI-TERRORISM LAWS. Neither the Borrower nor any of its Subsidiaries
shall be in violation of any law, regulation, or list of any government agency (including, without
limitation, the U.S. Office of Foreign Asset Control list, Executive Order No. 13224 or the USA
Patriot Act) that prohibits or limits the conduct of business with or the receiving of funds, goods
or services to or for the benefit of any Persons specified therein or that prohibits or limits any
Bank or Agent from making any advances or extensions of credit to the Borrower or from otherwise
conducting business with the Borrower.

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     SECTION 8.19. MINIMUM LIQUIDITY. The Borrower shall at all times during the term of
this Agreement maintain a minimum of Seventy-Five Million Dollars ($75,000,000) in available and
undrawn Commitments (excluding the Reserved Commitment) and Unrestricted Cash and Cash Equivalents,
as reported on Form 8-K that is furnished by the Parent (or on its behalf) to the Securities and
Exchange Commission. In furtherance of the foregoing, Borrower shall, or shall cause Parent to,
continue to report on Form 8-K Unrestricted Cash and Cash Equivalents of the Borrower in a manner
that is both timely and consistent with this Agreement.

ARTICLE IX

REPRESENTATIONS AND WARRANTIES

     Subject only to such exceptions, if any, as may be fully disclosed on Schedule 9.00 attached
hereto and furnished by the Borrower to each Bank prior to the execution and delivery hereof, the
Borrower represents and warrants as follows:

     SECTION 9.01. EXISTENCE. The Borrower is a corporation duly organized and validly
existing in good standing under the laws of the State of Ohio and is duly qualified to transact
business and is in good standing as a foreign corporation in all jurisdictions (other than
jurisdictions in which the nature of the property owned or business conducted, when considered in
relation to the absence of serious penalties, renders qualification as a foreign corporation
unnecessary as a practical matter) where the nature of the property owned and business transacted
by the Borrower render such qualification necessary. Each of the Borrower’s Subsidiaries is duly
organized and existing in good standing in the jurisdiction of its incorporation or formation,
except to the extent the failure of any such Subsidiary to be so organized or existing in good
standing could not reasonably be expect to have a Material Adverse Effect. Each of the Borrower
and each of its Subsidiaries has full power, authority, and legal right to own and operate its
respective properties and to carry on the business in which it engages and intends to engage.

     SECTION 9.02. RIGHT TO ACT. No registration with or approval of any governmental
agency of any kind is required for the due execution and delivery, or performance, or for the
validity or enforceability of, this Agreement, any Note or the Pledge Agreement. The Borrower has
legal power and right to execute and deliver this Agreement, each Note and the Pledge Agreement and
to perform and observe the provisions of this Agreement, any Note and the Pledge Agreement and all
such actions have been duly authorized by all necessary corporate action of the Borrower. By
executing and delivering this Agreement, any Note and the Pledge Agreement and by performing and
observing the provisions of this Agreement, any Note and the Pledge Agreement, the Borrower will
not violate any existing provision of its Articles of Incorporation, Code of Regulations or any
applicable law or judgment or violate or otherwise become in default under any existing contract,
agreement, indenture or other obligation binding upon the Borrower. The officers executing and
delivering this Agreement, the Notes and the Pledge Agreement on behalf of the Borrower have been
duly authorized to do so.

     SECTION 9.03. BINDING EFFECT. Each of this Agreement, the Pledge Agreement and the
Side Letter constitutes a valid and binding agreement of the Borrower, each of the Guaranty and the
Side Letter constitutes a valid and binding agreement of the Parent, in each case enforceable in
accordance with their respective terms, and the Notes, when executed

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and delivered in accordance with this Agreement, will constitute valid and binding obligations
of the Borrower, enforceable in accordance with their respective terms, except as enforceability
may be limited by bankruptcy, insolvency, reorganization, moratorium or other laws relating to or
affecting generally the enforcement of creditors’ rights and general principles of equity. Each of
this Agreement, the Notes, the Pledge Agreement and the Side Letter has been duly executed and
delivered by Borrower and constitutes the valid, legal and binding obligation of Borrower.

     SECTION 9.04. LITIGATION. No litigation, investigation or proceeding is pending or
being threatened against the Borrower, the Parent or any Subsidiary, the Collateral (or any portion
thereof) or any Plan before any court or any administrative agency which might, if successful, be
expected to have a Material Adverse Effect. The Internal Revenue Service has not alleged any
default by the Borrower, the Parent or any Subsidiary in the payment of any tax or threatened to
make any assessment in respect thereof.

     SECTION 9.05. EMPLOYEE RETIREMENT INCOME SECURITY ACT. (a) Each Plan established or
maintained by the Borrower, any of its Subsidiaries, or any ERISA Affiliate, is in compliance in
all material respects with all applicable requirements of ERISA and the requirements of the Code
applicable to all Plans. No Reportable Event has occurred or is expected to occur which, alone or
together with any other such event, might reasonably be expected to result, directly or indirectly,
in any material liability of the Borrower, any of its Subsidiaries, or any ERISA Affiliate.

     (b) The Borrower, its Subsidiaries, and each ERISA Affiliate have made all contributions
required to be made by them to each Plan as and when such contributions have become due, and no
event requiring notice to the PBCG under Section 302(f)(4)(A) of ERISA or Section 430(k)(4)(A) of
the Code has occurred and is continuing with respect to any Plan. Neither the Borrower, its
Subsidiaries, nor any ERISA Affiliate has received any notification or has any other reason to
expect that any Multiemployer Plan is in reorganization, has been terminated, is or is in
endangered or critical status within the meaning of Title IV of ERISA, in circumstances that could
reasonably be expected to result in material liability to the Borrower, its Subsidiaries, or any
ERISA Affiliate.

     (c) No material Plan established, maintained or contributed to by the Borrower, any of its
Subsidiaries or an ERISA Affiliate, which is subject to Part 3 of Subtitle B of Title I of ERISA,
has an accumulated funding deficiency (as such term is defined in Section 302 of ERISA) as of the
last day of the prior fiscal year, or would have had an accumulated funding deficiency (as so
defined) on such day if such year were the first year of such Plan to which Part 3 of Subtitle B of
Title I of that Act applied, and no material liability to the PBGC, has been, or is expected by the
Borrower, any of its Subsidiaries or an ERISA Affiliate to be, incurred with respect to any such
Plan by the Borrower any of its Subsidiaries or an ERISA Affiliate.

     SECTION 9.06. ENVIRONMENTAL COMPLIANCE. To the actual knowledge of the Borrower, the
Borrower and each Subsidiary are in compliance with any and all Environmental Laws including,
without limitation, all Environmental Laws in all jurisdictions in which the Borrower or any
Subsidiary owns or operates, or has owned or operated, a facility or site, arranges or has arranged
for disposal or treatment of hazardous substances, solid waste or other wastes, accepts or has
accepted for transport any hazardous substances, solid waste or other

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wastes or holds or has held any interest in real property or otherwise, for which failure to
comply is likely to result in claims, penalties or fines in excess of Five Hundred Thousand Dollars
($500,000) for any single claim of noncompliance or Five Million Dollars ($5,000,000) in the
aggregate for all such claims and occurrences. No litigation or proceeding arising under, relating
to or in connection with any Environmental Law is pending or threatened against the Borrower or any
Subsidiary, any real property in which the Borrower or any Subsidiary holds or has held an interest
or any past or present operation of the Borrower or any Subsidiary. To the actual knowledge of the
Borrower, no release, threatened release or disposal of hazardous waste, solid waste or other
wastes is occurring, or has occurred, on, under, from, or to any real property in which the
Borrower or any Subsidiary holds any interest or performs any of its operations, in violation of
any Environmental Law that could reasonably be expected to result in claims of liability against
the Borrower or any Subsidiary in excess of Five Hundred Thousand Dollars ($500,000) for any single
claim or Five Million Dollars ($5,000,000) in the aggregate for all such claims. As used in this
subsection, “litigation or proceeding” means any demand, claim, notice, suit, suit in equity,
action, administrative action, investigation or inquiry whether brought by any governmental
authority, private person or entity or otherwise.

     SECTION 9.07. SOLVENCY; NO BANKRUPTCY FILING; NO FRAUDULENT INTENT. (a) The Borrower
has received consideration which is at least the “reasonably equivalent value” of the obligations
and liabilities that the Borrower has incurred to the Banks and such consideration constitutes
“valuable consideration,” “fair value,” and “fair consideration” (as such terms are used in any
applicable state fraudulent conveyance law). The Borrower is not insolvent as defined in any
applicable state or federal statute, nor will the Borrower be rendered insolvent by the execution
and delivery of this Agreement or any Note to the Banks or by the incurrence of any obligation
hereunder or thereunder. The Borrower is not engaged or about to engage in any business or
transaction for which the assets retained by it shall be an unreasonably small capital, taking into
consideration the obligations to the Banks incurred hereunder. The Borrower does not intend to,
nor does it believe that it will, incur debts beyond its ability to pay them as they mature.

     (b) Neither the Borrower nor the Parent is contemplating either the filing of a petition by it
under any state or federal bankruptcy or insolvency laws or for the liquidation of its assets or
property, and the Borrower has no knowledge of any Person contemplating the filing of any such
petition against it.

     (c) Neither the execution and delivery of this Agreement, the Notes or any other Related
Writing nor the performance of any actions required hereunder or thereunder is being undertaken by
the Borrower, the Parent or any of their respective Subsidiaries with or as a result of any actual
intent by any of such Persons to hinder, delay or defraud any entity to which any of such Persons
is now or will hereafter become indebted.

     SECTION 9.08. FINANCIAL STATEMENTS. The annual financial statements of the Borrower
prepared as of January 31, 2009 and the quarterly financial statements of the Borrower prepared as
of October 31, 2009, in each case certified by the Borrower’s Chief Financial Officer and
heretofore furnished to each Bank, are true and complete, have been prepared in accordance with
GAAP applied on a basis consistent with those used by the Borrower during its immediately preceding
full fiscal year and fairly present its financial

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condition as of those dates and the results of its operations for the periods set forth
therein. Since October 31, 2009, there has been no change in the Borrower’s financial condition,
properties or business or in the financial condition, properties or business of any Subsidiary, in
each case that has had or could reasonably be expected to have a Material Adverse Effect.

     SECTION 9.09. DEFAULTS. No Event of Default or Possible Default exists, nor will any
begin to exist immediately after the execution and delivery hereof.

     SECTION 9.10. OPERATIONS. The Borrower and its Subsidiaries have obtained and
continue to possess all permits, licenses and authorizations the absence of which would materially
and adversely affect the Borrower’s or a Subsidiary’s ability to carry on its business in the
ordinary course.

     SECTION 9.11. TITLE TO PROPERTIES; PATENTS, TRADE MARKS, ETC. The Borrower and its
Subsidiaries have good and marketable title to all of their properties and assets, including,
without limitation, the properties and assets reflected in the financial statements referred to in
Section 9.08 hereof (excepting, however, inventory and other immaterial assets, in each case sold
or otherwise disposed of in the ordinary course of business subsequent to the date of such
financial statements). There are no Liens of any nature whatsoever on any of the properties or
assets of the Borrower and its Subsidiaries other than such as are permitted under Section 8.05
hereof. The Borrower and its Subsidiaries own or possess all the patents, trademarks, service
marks, trade names, copyrights, and licenses and rights with respect to the foregoing necessary for
the conduct of their respective businesses as now conducted, without any known conflict with the
valid rights of others which would be inconsistent with the conduct of its business substantially
as now conducted and as currently proposed to be conducted.

     SECTION 9.12. COMPLIANCE WITH OTHER INSTRUMENTS. The Borrower and, to the best of the
Borrower’s knowledge, each Subsidiary is not in default in the performance, observance or
fulfillment of any of the material obligations, covenants or conditions contained in any evidence
of Indebtedness or Contingent Obligations. Neither the execution and delivery of this Agreement,
nor the consummation of the transactions contemplated hereby, nor compliance with the terms and
provisions hereof will violate the provisions of any applicable law or of any applicable order or
regulation of any governmental authority having jurisdiction over the Borrower or any of its
Subsidiaries, or will conflict with any of the organizational documents of the Borrower or any
material permit, license or authorization, or will conflict with or result in a breach of any of
the terms, conditions or provisions of any restriction or of any agreement or instrument to which
the Borrower is now a party, or will constitute a default thereunder, or will result in the
creation or imposition of any Lien upon any of the properties or assets of the Borrower or any of
its Subsidiaries.

     SECTION 9.13. MATERIAL RESTRICTIONS. Neither the Borrower, nor the Parent nor any of
their respective Subsidiaries is a party to any agreement or other instrument or subject to any
other restriction which would have a Material Adverse Effect.

     SECTION 9.14. CORRECTNESS OF DATA FURNISHED. This Agreement and all schedules and
exhibits attached hereto and all Related Writings do not contain any untrue

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statement of a material fact or omit a material fact necessary to make the statements
contained herein or therein not misleading. The written information, reports and other papers and
data with respect to the Parent, the Borrower, any Subsidiary or the Collateral furnished to the
Agents or the Banks in connection with this Agreement or the obtaining of the Commitments of the
Banks hereunder was, at the time so furnished, complete and correct in all material respects, or
has been subsequently supplemented by other written information, reports or other papers or data,
to the extent necessary to give in all material respects a true and accurate knowledge of the
subject matter in all material respects; provided that such representation shall not apply
to (a) the accuracy of any legal conclusions or analysis provided by the Borrower’s or the Parent’s
counsel (although the Borrower and the Parent have no reason to believe that the Agent and the
Banks may not rely on the accuracy thereof) or (b) budgets, projections and other forward-looking
speculative information prepared in good faith by the Borrower (except to the extent the related
assumptions were when made manifestly unreasonable).

     SECTION 9.15. TAXES. Each of the Borrower, the Parent and each of their respective
Subsidiaries has (a) timely filed all returns required to be filed by it with respect to all taxes,
(b) paid all taxes shown to have become due pursuant to such returns, and (c) paid all other taxes
for which a notice of assessment or demand for payment has been received other than taxes that the
Borrower, the Parent or such Subsidiary is contesting in good faith with appropriate proceedings
and as to which there shall have been set aside on the Borrower’s, the Parent’s or such
Subsidiary’s books such reserves with respect thereto as are required by GAAP. All tax returns
have been prepared in accordance with all applicable laws and requirements and accurately reflect
in all material respects the taxable income (or other measure of tax) of the Borrower, the Parent
or such Subsidiary filing the same. The accruals for taxes contained in the financial statements
referred to in Section 9.08 hereof are adequate under GAAP to cover all liabilities for taxes for
all periods ending on or before the date of such financial statements and include adequate
provision for all deferred taxes (including deferred federal taxes), and nothing has occurred
subsequent to that date to make any of such accruals inadequate. All taxes for periods beginning
after the date of this Agreement through and including the Restatement Effective Date have been
paid or are adequately reserved against on the books of the Borrower or the Parent, as applicable.
Each of the Borrower, the Parent and each of their respective Subsidiaries has timely filed all
information returns or reports which are required to be filed and has accurately reported all
information required to be included on such returns or reports. There are no proposed assessments
of taxes against the Borrower, the Parent or any of their respective Subsidiaries nor proposed
adjustments to any tax return filed that, individually or in the aggregate, would have a Material
Adverse Effect.

     SECTION 9.16. COMPLIANCE WITH LAWS. The Borrower and, to the best of the Borrower’s
knowledge, the Parent and each of their respective Subsidiaries is in compliance in all material
respects with all material laws, rules, regulations, court orders and decrees, and orders of any
governmental agency which are applicable to the Borrower, the Parent or their respective
Subsidiaries or to their respective properties.

     SECTION 9.17. REGULATION U, ETC. The Borrower does not own, nor does it have any
present intention of acquiring, any “margin stock” or “margin security” as such terms are used in
Regulation T, U or X (12 CFR Part 221) of the Board of Governors of the Federal Reserve System.
Neither the proceeds of the Loans, nor any Letter of Credit, will be used,

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directly or indirectly, by the Borrower for the purpose of purchasing or carrying, or for the
purpose of reducing or retiring any Indebtedness or other liability which was originally incurred
to purchase or carry, any such margin stock or margin security or for any other purpose which might
cause the transactions contemplated hereby to be considered a “purpose credit” within the meaning
of said Regulation U, or which might cause this Agreement to violate said Regulation U, Regulation
T, Regulation X or any other regulation of the Board of Governors of the Federal Reserve System or
the Exchange Act. Upon request, the Borrower will promptly furnish the Agent with a statement in
conformity with the requirements of Federal Reserve Form U-1 referred to in said Regulation U.

     SECTION 9.18. SUBSIDIARIES; ORGANIZATIONAL STRUCTURE. Schedule 9.18 attached hereto
sets forth, as of the date hereof, all of the direct Subsidiaries of the Borrower, the form and
jurisdiction of organization of each such Subsidiary, and the Borrower’s ownership interests
therein.

     SECTION 9.19. SECURITIES ACT, ETC. Neither the registration of any security under the
Securities Act of 1933, as amended, or any other federal, state or local securities laws, nor the
qualification of this Agreement, the Notes, the Pledge Agreement and/or the Guaranty under the
Trust Indenture Act of 1939, as amended, is required in connection with the Loans or the issuance
and delivery of the Notes pursuant hereto.

     SECTION 9.20. INVESTMENT COMPANY ACT. The Borrower is not, nor immediately after the
application by the Borrower of the proceeds of each Loan or the issuance of any Letter of Credit
will the Borrower be, an “investment company” or an “affiliated company” or a “principal
underwriter” of an “investment company”, as such terms are defined in the Investment Company Act of
1940, as amended.

     SECTION 9.21. INDEBTEDNESS OF SUBSIDIARIES. No Subsidiary has any Indebtedness other
than (a) on terms that limit recourse for the payment thereof to the real property or other assets
of the Subsidiary securing such Indebtedness, provided that the assets securing such
Indebtedness were acquired or developed with the proceeds of such Indebtedness, (b) such
Indebtedness that is owed by a SPE Subsidiary, or (c) Indebtedness permitted under Section 8.04,
8.06 or 8.07 hereof.

     SECTION 9.22. GUARANTIES. (a) All outstanding guaranties, including, but not limited
to Completion Guaranties, issued by the Parent and the maximum amounts guaranteed pursuant to each
such guaranty are set forth on Schedule 9.22 attached hereto or in a certificate signed by a Senior
Officer of the Parent and provided to the Agent on the Restatement Effective Date.

     (b) With respect to each Completion Guaranty set forth on Schedule 9.22 attached hereto or in
the certificate referred to in Section 9.22(a), the Parent has received a budget for the relevant
construction project and any interest reserve provided in connection therewith is available to the
construction lender only through project completion and not through stabilization of the project.

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     SECTION 9.23. INDEBTEDNESS. Schedule 9.23 attached hereto sets forth a complete and
accurate list of all Indebtedness, of each of the Parent and the Borrower (other than the Loans and
intercompany Indebtedness), not otherwise disclosed on the most recent financial statements
delivered by the Borrower to the Banks or by the Parent to the Banks, as applicable. All
intercompany Indebtedness of the Parent and the Borrower is subordinated in all respects to the
Borrower’s Debt to the Banks.

     SECTION 9.24. ANTI-TERRORISM LAW COMPLIANCE. Neither the Borrower nor any of its
Subsidiaries is in violation of any law, regulation, or list of any government agency (including,
without limitation, the U.S. Office of Foreign Asset Control list, Executive Order No. 13224 or the
USA Patriot Act) that prohibits or limits the conduct of business with or the receiving of funds,
goods or services to or for the benefit of any Persons specified therein or that prohibits or
limits any Bank or Agent from making any advances or extensions of credit to the Borrower or from
otherwise conducting business with the Borrower. In addition, the Borrower hereby agrees to
provide to the Banks any additional information that a Bank reasonably deems necessary from time to
time in order to ensure compliance with all laws concerning money laundering and similar
activities.

ARTICLE X

EVENTS OF DEFAULT

     Each of the following shall constitute an event of default (each an “Event of Default”):

     SECTION 10.01. PAYMENTS. If all or any installment of the principal of, or interest
on, any Note, or any fee provided hereunder shall not be paid in full punctually when due and
payable.

     SECTION 10.02. COVENANTS. (a) If the Borrower shall fail or omit to perform or
observe any agreement or other provision contained or referred to in Section 7.13(a), 7.16(a) or
7.17 or Article 8 hereof (other than Section 8.18 hereof to the extent the proviso in Section
10.02(b) hereof does not eliminate the notice and cure period provided therein); or

     (b) If the Borrower shall fail or omit to perform or observe any agreement or other provision
(other than those specifically referred to in Section 10.01 or 10.02(a) hereof) contained or
referred to in this Agreement or any Related Writing (other than the Pledge Agreement) that is on
the Borrower’s part to be complied with, and the Borrower shall not have corrected such failure or
omission within thirty (30) days (or, in the case of any failure or omission to perform or observe
any provision of Section 7.15 hereof, ten (10) days) after the giving of written notice thereof to
the Borrower by the Agent that the specified default is to be remedied; provided that the
thirty (30) day notice and cure period shall only apply to any failure or omission to perform under
Section 8.18 hereof to the extent it is possible for the Borrower to correct any such failure or
omission.

     SECTION 10.03. REPRESENTATIONS AND WARRANTIES. If any representation, warranty or
statement made or deemed made in or pursuant to this Agreement or any Related Writing or any other
material information furnished by the Borrower to the Agents,

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the Banks or any thereof or any other holder of any Note, shall be false or erroneous in any
material respect when made or deemed made.

     SECTION 10.04. CROSS DEFAULT. If the Borrower and/or any Subsidiary defaults (a) in
any payment of principal or interest due and owing upon any Indebtedness (other than the Debt) in
excess of Five Million Dollars ($5,000,000) (whether due and owing by scheduled maturity, required
prepayment, acceleration, demand or otherwise), (b) in the case of the Borrower, in the payment or
performance of any obligation permitted to be outstanding or incurred pursuant to Section 8.04 or
8.05, 8.06(b), or 8.07 hereof in excess of Five Million Dollars ($5,000,000), beyond any period of
grace provided with respect thereto or (c) in the performance of any other agreement, term or
condition contained in any agreement under which any such obligation is created, if the effect of
such default under this clause (c) is to accelerate the maturity of the related Indebtedness or to
permit the holder thereof to cause such Indebtedness to become due, or to cause the same to be
repurchased or redeemed, prior to its stated maturity or to foreclose on any Lien on property of
the Borrower securing the same, except that defaults in payment or performance of non-recourse
obligations of the Borrower or any Subsidiary shall not constitute Events of Default under this
Section 10.04 unless such defaults, individually or in the aggregate, (x) have a Material Adverse
Effect or (y) involve non-recourse Indebtedness in principal amount in excess of twenty percent
(20%) of all non-recourse Indebtedness of the Borrower and its Subsidiaries.

     SECTION 10.05. TERMINATION OF PLAN OR UNFUNDED PLAN. If (a) any Reportable Event
occurs and the Banks, in their sole determination, deem such Reportable Event to constitute grounds
(i) for the termination of any Plan by the PBGC or (ii) for the appointment by the appropriate
United States district court or other governmental agency of a trustee to administer any Plan and
such Reportable Event shall not have been fully corrected or remedied to the full satisfaction of
the Banks within thirty (30) days after the giving of written notice of such determination to the
Borrower by the Banks, or (b) any Plan shall be terminated within the meaning of Title IV of ERISA,
or (c) a trustee shall be appointed by the appropriate United States district court or other
governmental agency to administer any Plan, or (d) the PBGC or other governmental agency shall
institute proceedings to terminate any Plan or to appoint a trustee to administer any Plan, or (e)
any failure by the Borrower, any of its Subsidiaries, or an ERISA Affiliate to make a required
material contribution or other payment under Section 303(k)(1) of ERISA or Section 412(n)(1) of the
Code has resulted in a determination of a liability under Section 303(k)(3) of ERISA or Section
412(n)(3) of the Code and such failure shall not have been fully corrected or remedied to the full
satisfaction of the Banks within thirty (30) days after the giving of written notice of such
determination to the Borrower by the Banks, or (f) the aggregate Unfunded Current Liabilities with
respect to all Plans has a Material Adverse Effect, and the same shall not have been fully
corrected or remedied to the full satisfaction of the Banks within thirty (30) days after the
giving of written notice of such determination to the Borrower by the Banks, or (g) the aggregate
annual contributions and other payments required to be made by the Borrower, any of its
Subsidiaries, or an ERISA Affiliate to any Plan as a result of any partial or complete withdrawal
liability (as defined in Section 4201 of ERISA) or the reorganization or termination of any Plan
that is a Multiemployer Plan has or can reasonably be expected to have a Material Adverse Effect.

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     SECTION 10.06. DOMESTIC SUBSIDIARY SOLVENCY. If (a) any Domestic Subsidiary shall (i)
generally not pay its debts as such debts become due, or (ii) make a general assignment for the
benefit of creditors, or (iii) apply for or consent to the appointment of a receiver, a custodian,
a trustee, an interim trustee or liquidator of itself or all or a substantial part of its assets,
or (iv) be adjudicated a debtor or have entered against it an order for relief under the Bankruptcy
Code, whether in a voluntary or involuntary case or proceeding, or (v) file a voluntary petition in
bankruptcy or file a petition or an answer seeking reorganization or an arrangement with creditors
or seeking to take advantage of any other law (whether federal or state) relating to relief of
debtors, or admit (by answer, by default or otherwise) the material allegations of a petition filed
against it in any bankruptcy, reorganization, insolvency or other proceeding (whether federal or
state) relating to relief of debtors, or (vi) suffer or permit to continue unstayed and in effect
for thirty (30) consecutive days any judgment, decree or order, entered by a court of competent
jurisdiction, which approves a petition seeking its reorganization or appoints a receiver,
custodian, trustee, interim trustee or liquidator of itself or of all or a substantial part of its
assets, or (vii) take or omit to take any other action in order thereby to effect any of the
foregoing, or (viii) fail to pay and discharge all lawful taxes, assessments and governmental
charges or levies imposed upon it or its income, profits, or properties, and/or all lawful claims
for labor, materials and supplies, which, if unpaid, might become a lien or charge against such
properties, in all cases before the same shall become in default, or (ix) fail to comply with any
and all Environmental Laws applicable to such Domestic Subsidiary, its properties or activities, or
(x) fail to observe, perform or fulfill any of its obligations, covenants or conditions contained
in any evidence of Indebtedness or Contingent Obligations or other contract, decree, order,
judgment, or instrument to which such Domestic Subsidiary is a party or by which it or its assets
are bound, and (b) any such event or events described in (a) above shall in the reasonable judgment
of the Banks have a Material Adverse Effect.

     SECTION 10.07. BORROWER’S SOLVENCY. If the Borrower shall (a) discontinue business,
or (b) generally not pay its debts as such debts become due, or (c) make a general assignment for
the benefit of creditors, or (d) apply for or consent to the appointment of a receiver, a
custodian, a trustee, an interim trustee or liquidator of all or a substantial part of its assets,
or (e) be adjudicated a debtor or have entered against it an order for relief under the Bankruptcy
Code, whether in a voluntary or involuntary case or proceeding, or (f) file a voluntary petition
under any chapter or provision of the Bankruptcy Code or file a petition or an answer seeking
reorganization or an arrangement with creditors or seeking to take advantage of any other law
(whether federal or state) relating to relief of debtors, or admit (by answer, by default or
otherwise) the material allegations of a petition filed against it in any bankruptcy,
reorganization, insolvency or other proceeding (whether federal or state) relating to relief of
debtors, or (g) suffer or permit to continue unstayed and in effect for thirty (30) consecutive
days any judgment, decree or order entered by a court or governmental commission of competent
jurisdiction, which assumes custody or control of the Borrower, approves a petition seeking
reorganization of the Borrower or any other judicial modification of the rights of its creditors,
or appoints a receiver, custodian, trustee, interim trustee or liquidator for the Borrower or of
all or a substantial part of its assets, or (h) take or omit to take any action in order thereby to
effect any of the foregoing.

     SECTION 10.08. CHANGE OF OWNERSHIP; CHANGE OF MANAGEMENT EVENT. If a Change of
Ownership Event or a Change of Management Event shall occur.

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     SECTION 10.09. JUDGMENTS. If one or more judgments or decrees shall be entered
against the Borrower or the Parent involving a liability (not paid or fully covered by a reputable
and solvent insurance company) in excess of Ten Million Dollars ($10,000,000) for all such
judgments or decrees and any such judgments or decrees shall not have been vacated, paid,
discharged, stayed or bonded pending appeal within sixty (60) days from the entry thereof.

     SECTION 10.10. DEFAULT UNDER GUARANTY. If an Event of Default (as defined in the
Guaranty) has occurred and is continuing or the Guaranty shall for any reason cease to be valid and
binding against the Parent or the Parent shall so state in writing.

     SECTION 10.11. DEFAULT UNDER SUBORDINATION AGREEMENT. If the Parent defaults in the
performance of any agreement, covenant, term or condition in any Subordination Agreement (which
default shall only be an Event of Default when the Agent provides written notice of such default to
the Parent and/or the Borrower).

     SECTION 10.12. DEFAULT UNDER PLEDGE AGREEMENT. If an Event of Default (as defined in
the Pledge Agreement) has occurred and is continuing.

ARTICLE XI

REMEDIES UPON DEFAULT

     Notwithstanding any contrary provision or inference herein or elsewhere, the Banks may take
any or all of the following actions if any Event of Default occurs and is continuing:

     SECTION 11.01. OPTIONAL DEFAULTS. If any Event of Default referred to in Sections
10.01, 10.02, 10.03, 10.04, 10.05, 10.06, 10.07 (a), (b), (c) or (d) or (h) (solely as such clause
(h) relates to Section 10.07(a), (b), (c) or (d)), 10.08, 10.09, 10.10 (other than an Event of
Default (as defined in the Guaranty) under Section 10(g) or 10(h) of the Guaranty), 10.11 and/or
10.12 hereof shall occur, the Required Banks shall have the right in their discretion, by directing
the Agent, on behalf of the Banks, to give written notice to the Borrower, and to

     (a) terminate the Commitments and the credits hereby established and any Letter of Credit
which may be terminated in accordance with its terms, in each case, if not theretofore terminated,
and forthwith upon such election the obligations of the Banks, and each thereof, to make any
further Loan or Loans and/or issue further Letters of Credit immediately shall be terminated,
and/or

     (b) accelerate the maturity of all of Borrower’s Debt to the Banks (if it is not already due
and payable), whereupon all of Borrower’s Debt to the Banks shall become and thereafter be
immediately due and payable in full without any presentment or demand and without any further or
other notice of any kind, all of which are hereby waived by the Borrower.

     SECTION 11.02. AUTOMATIC DEFAULTS. If any Event of Default referred to in Section
10.07(e), (f), (g) or (h) (solely as such clause (h) relates to Section 10.07(e), (f) or (g))
and/or 10.10 (with regard to an Event of Default (as defined in the Guaranty) under Section 10(g)
or 10(h) of the Guaranty) hereof shall occur,

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     (a) all of the Commitments and the credits hereby established shall automatically and
forthwith terminate, if not theretofore terminated, and no Bank thereafter shall be under any
obligation to grant any further Loan or Loans and/or issue further Letters of Credit, and

     (b) the principal of and interest on all Notes then outstanding, and all of Borrower’s Debt to
the Banks shall thereupon become and thereafter be immediately due and payable in full (if it is
not already due and payable), all without any presentment, demand or notice of any kind, all of
which are hereby waived by the Borrower.

     SECTION 11.03. REMEDIES RELATING TO LETTERS OF CREDIT. In the event the Commitments
are terminated and/or the Debt is accelerated pursuant to Section 5.07, 11.01 or 11.02 hereof, the
Borrower shall immediately deposit with the Agent an amount of Cash equal to the then aggregate
amount of the stated amounts of all Letters of Credit outstanding hereunder as security for
reimbursement of any drawings made on any such Letters of Credit and as collateral for repayment of
the Debt or any part thereof.

     SECTION 11.04. OFFSETS. If there shall occur or exist any Possible Default under
Section 10.07 hereof or if the maturity of the Notes is accelerated pursuant to Section 11.01 or
11.02 hereof, each Bank shall have the right at any time to set off against, and to appropriate and
apply toward the payment of, any and all Debt then owing by Borrower to that Bank (including,
without limitation, any participation purchased or to be purchased pursuant to Section 12.12
hereof) and any obligations of the Parent owing to such Bank under the Guaranty, whether or not the
same shall then have matured, any and all deposit balances (general or specific, time or demand,
provisional or final, regardless of currency, maturity, or the branch where such deposits are
held), all other Indebtedness then held or owing by that Bank to or for the credit or account of
the Borrower or the Parent and any securities or other property of the Borrower or the Parent in
the possession of such Bank, all without notice to or demand upon the Borrower, the Parent or any
other Person but with the prior written approval of the Agent, all such notices and demands being
hereby expressly waived by the Borrower.

     SECTION 11.05. APPLICATION OF PAYMENTS. Notwithstanding any other provision of this
Agreement, upon the occurrence and during the continuance of an Event of Default, the Borrower
waives any right it may have to direct the application of any and all payments received by the
Agent or the Banks on account of the Debt and the Borrower agrees that each of the Agent and each
Bank shall have the right, in its sole and absolute discretion, to apply and re-apply any and all
such payments in such manner as the Agent or such Bank may deem advisable, subject to the Pro rata
sharing of any such payments among the Banks.

ARTICLE XII

THE AGENT

     SECTION 12.01. APPOINTMENT AND AUTHORIZATION. Each Bank hereby irrevocably designates
and appoints KeyBank National Association as the Agent of such Bank to act as specified in this
Agreement and each such Bank hereby irrevocably authorizes KeyBank National Association to take
such action as the Agent on its behalf and to exercise such powers and perform such duties
hereunder as are expressly delegated to the Agent by the terms of this Agreement or any Related
Writing, together with such other powers as are reasonably incidental

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thereto. The Agent agrees to act as such upon the express conditions contained in this
Article XII. Notwithstanding any provision to the contrary elsewhere in this Agreement or any
Related Writing, the Agent shall not have any duties or responsibilities, except those expressly
set forth in this Agreement or any Related Writing, or any fiduciary relationship with any Bank or
participant, and no implied covenants, functions, responsibilities, duties, obligations or
liabilities shall be read into, created by or arise under this Agreement or any Related Writing or
otherwise exist against the Agent. Without limiting the generality of the foregoing sentence, the
use of the term “agent” herein and in the Related Writings with reference to any Agent is not
intended to connote any fiduciary or other implied (or express) obligations arising under agency
doctrine of any applicable law. Instead, such term is used merely as a matter of market custom,
and is intended to create or reflect only an administrative relationship between independent
contracting parties. Subject to the provisions of Sections 12.03 and 12.11 hereof, the Agent shall
administer the Loans in the same manner as it administers its own loans. The provisions of this
Article XII are solely for the benefit of the Agent and the Banks, and neither the Borrower, the
Parent nor any of their respective Subsidiaries shall have any rights as a third party beneficiary
of any of the provisions hereof. In performing its functions and duties under this Agreement, the
Agent shall act solely as agent of the Banks and the Agent does not assume and shall not be deemed
to have assumed any obligation or relationship of agency or trust with or for the Borrower, the
Parent or their respective Subsidiaries.

     SECTION 12.02. DELEGATION OF DUTIES. The Agent may execute any of its duties under
this Agreement, the Notes or any other Related Writing by or through agents, employees or
attorneys-in-fact and shall be entitled to advice of counsel and other consultants or experts
concerning all matters pertaining to such duties. The Agent shall not be responsible for the
negligence or misconduct of any agents or attorneys-in-fact selected by it in the absence of gross
negligence or willful misconduct to the extent determined in a final, non-appealable judgment by a
court of competent jurisdiction.

     SECTION 12.03. LIABILITY OF AGENT. Neither the Agent nor any of its officers,
directors, employees, agents, attorneys-in-fact or affiliates shall be (a) liable for any waiver,
consent or approval given or any action lawfully taken or omitted to be taken by such Person under
or in connection with this Agreement, the Notes or the other Related Writings or the transactions
contemplated hereby or thereby (except for its or such Person’s own gross negligence or willful
misconduct, to the extent determined in a final, non-appealable judgment by a court of competent
jurisdiction, in connection with its duties expressly set forth herein) or (b) responsible in any
manner to any of the Banks or any participant for any recitals, statements, representations or
warranties made by the Borrower, the Parent, or any of their respective Subsidiaries or any of
their responsible officers, contained in this Agreement or any Related Writing, or for any failure
of the Borrower, the Parent or any of their respective Subsidiaries or any of their respective
officers, or any other party to this Agreement or any Related Writing to perform its obligations
hereunder or thereunder, or for the validity, effectiveness, genuineness, enforceability or
sufficiency of this Agreement or any Related Writing or any instrument at any time constituting, or
intended to constitute, collateral security for the Notes, or for the value of any such collateral
security. Each Bank by its signature to this Agreement acknowledges and agrees that the Agent has
made no representation or warranty, express or implied, with respect to the creditworthiness,
financial condition or any other condition of Borrower, the Parent or any Subsidiary or the value
of the Collateral or any other assets of the Borrower, the Parent or any of

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their respective Subsidiaries, or with respect to the statements contained in any information
memorandum furnished in connection herewith or in any other oral or written communication between
the Agent and such Bank. Each Bank acknowledges that it has made and shall continue to make its
own independent investigation of the creditworthiness, financial condition and affairs of Borrower,
the Parent and any Subsidiary in connection with the extension of credit hereunder, and agrees that
the Agent has no duty or responsibility, either initially or on a continuing basis, to provide any
Bank with any credit or other information with respect thereto (other than such notices as may be
expressly required to be given by Agent to the Banks hereunder), whether coming into its possession
before the granting of the first Loans or at any time or times thereafter. The Agent shall not be
under any obligation to any Bank or participant to ascertain or to inquire as to the observance or
performance of any of the agreements contained in, or conditions of, this Agreement or any Related
Writing or to ascertain whether any notice, consent, waiver or request delivered to it by the
Borrower, the Parent or any holder of any of the Notes shall have been duly authorized or is true,
accurate and complete, or to inspect the properties, books or records of the Parent, the Borrower,
any of their Subsidiaries or any Affiliate of any of them. Agent’s Special Counsel has only
represented Agent and KeyBank National Association in connection with this Agreement, the Notes and
the other Related Writings and the only attorney client relationship or duty of care is between
Agent’s Special Counsel and Agent or KeyBank National Association. Each Bank has been independently
represented by separate counsel on all matters regarding this Agreement, the Notes and the other
Related Writings and the granting and perfecting of liens in the Collateral.

     SECTION 12.04. RELIANCE BY AGENT. (a) The Agent shall be entitled to rely, and shall
be fully protected in relying, upon any note, writing, resolution, signature, notice, consent,
certificate, affidavit, letter, cablegram, facsimile transmission, telex or teletype message,
electronic mail message, statement, order or other document or conversation reasonably believed by
it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons
and upon advice and statements of legal counsel (including counsel to the Borrower or the Parent),
independent accountants and other experts selected by the Agent. The Agent shall be fully
justified in failing or refusing to take any action under this Agreement or the Notes or any
Related Writing unless it shall first receive such advice or concurrence of the Majority Banks, the
Required Banks, the Super Majority Banks or all of the Banks, as applicable, and, if it so
requests, it shall first be indemnified to its satisfaction by the Banks against any and all
liability and expense (other than any liability or expense resulting from its gross negligence or
willful misconduct to the extent determined in a final, non-appealable judgment by a court of
competent jurisdiction) which may be incurred by it by reason of taking or continuing to take any
such action. The Agent shall in all cases be fully protected in acting, or in refraining from
acting, under this Agreement, the Notes or the other Related Writings in accordance with a request
or consent of the Majority Banks, the Required Banks, the Super Majority Banks or all of the Banks,
as applicable, and such request and any action or failure to act pursuant thereto shall be binding
upon all the Banks.

     (b) For purposes of determining compliance with the conditions specified in Article VI hereof,
each Bank that has signed this Agreement shall be deemed to have consented to, approved or accepted
or to be satisfied with, each document or other matter required thereunder to be consented to or
approved by or acceptable or satisfactory to a Bank unless the Agent shall

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have received written notice from such Bank prior to the Restatement Effective Date specifying
its objection thereto.

     SECTION 12.05. RESIGNATION OR REMOVAL OF THE AGENT; SUCCESSOR AGENT. The Agent may
resign upon twenty (20) days’ notice to the Banks or the Agent may be removed by the vote of the
Required Banks (excluding the Bank serving as the Agent) in the event of the Agent’s willful
misconduct or gross negligence. Any such resignation or removal may at the Agent’s option also
constitute the Agent’s resignation as an Issuing Bank and a Swing Line Lender. Upon such
resignation or removal of the Agent, the Required Banks shall appoint from among the Banks a
successor Agent for the Banks and, if applicable, Issuing Bank and Swing Line Lender subject to
prior approval of the Borrower so long as no Possible Default or Event of Default then exists (such
approval not to be unreasonably withheld or delayed), whereupon such successor shall succeed to the
rights, powers and duties of the Agent and, if applicable, Issuing Bank and Swing Line Lender, and
the term “Agent” and, if applicable, “Issuing Bank” and “Swing Line Lender” shall include such
successor effective upon its appointment, and the resigning or removed Agent’s and, if applicable,
Issuing Bank’s and Swing Line Lender’s rights, powers and duties as the Agent and, if applicable,
Issuing Bank and Swing Line Lender shall be terminated, without any other or further act or deed on
the part of the former Agent, Issuing Bank or Swing Line Lender, as the case may be, or any of the
parties to this Agreement. After the resignation or removal of the Agent hereunder, the provisions
of this Article XII shall inure to its benefit as to any actions taken or omitted to be taken by it
while it was Agent under this Agreement. In the event no successor agent has been appointed by the
end of such twenty (20) day period in the case of a resignation or upon the removal of the Agent
and, if applicable, Issuing Bank and Swing Line Lender, the resignation or removal of the Agent
and, if applicable, Issuing Bank and Swing Line Lender shall become effective and the Required
Banks shall perform the duties of the Agent until a successor agent is appointed.

     SECTION 12.06. NOTE HOLDERS. The Agent may deem and treat the payee of any Note as
the holder thereof for all purposes unless and until written notice of the assignment, transfer or
endorsement thereof, as the case may be, shall have been filed with the Agent. Any request,
authority or consent of any Person or entity who, at the time of making such request or giving such
authority or consent, is the holder of any Note shall be conclusive and binding on any subsequent
holder, transferee, assignee or indorsee, as the case may be, of such Note or of any Note or Notes
issued in exchange therefor.

     SECTION 12.07. CONSULTATION WITH COUNSEL. (a) The Agent may consult with legal
counsel reasonably selected by it and shall not be liable for any action taken or suffered in good
faith by it in accordance with the opinion of such counsel.

     (b) Should the Agent (i) employ counsel for advice or other representation (whether or not any
suit has been or shall be filed) with respect to this Agreement, the Notes or any of the other
Related Writings, or (ii) commence any proceeding or in any way seek to enforce its and the Banks’
rights or remedies under this Agreement, the Notes or any Related Writing, each Bank, upon demand
therefor from time to time, shall contribute its share (based on its Pro rata share) of the
reasonable costs and/or expenses of any such advice or other representation, enforcement or
acquisition, including, but not limited to, fees of receivers, court costs and fees and expenses of
attorneys to the extent not reimbursed by Borrower and without limiting the

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Borrower’s obligations to do so; provided, that the Agent shall not be entitled to
reimbursement of its attorneys’ fees and expenses incurred in connection with the resolution of
disputes between the Agent and the other Banks unless the Agent shall be the prevailing party in
any such dispute and, provided, further, that the Agent shall only be entitled to
such reimbursement from those Banks that were involved in the dispute with the Agent. Any loss of
principal and interest resulting from any Event of Default shall be shared by the Banks in
accordance with their respective Pro rata shares.

     SECTION 12.08. DOCUMENTS. The Agent shall not be under a duty to examine into or pass
upon the validity, effectiveness, genuineness or value of this Agreement, the Notes or any other
Related Writing furnished pursuant hereto or in connection herewith or the value of any collateral
obtained hereunder, and the Agent shall be entitled to assume that the same are valid, effective
and genuine and what they purport to be.

     SECTION 12.09. KNOWLEDGE OF DEFAULT. It is expressly understood and agreed that the
Agent shall not be deemed to have knowledge or notice of the occurrence of any Possible Default or
Event of Default (other than the failure to make available to the Agent any principal of or
interest on the Loans, or any fees, for the account of the Banks as required under this Agreement
and the Notes), unless the Agent has actually received written notice from a Bank or the Borrower
describing such Possible Default or Event of Default and stating that such notice is a “notice of
default.” In the event that the Agent receives such a notice, the Agent shall give prompt notice
thereof to the Banks. The Agent shall take such action with respect to such Possible Default or
Event of Default as shall be reasonably directed by the Majority Banks, the Required Banks, the
Super Majority Banks or all of the Banks, as applicable; provided, that unless and until
the Agent shall have received such directions, the Agent may (but shall not be obligated to) take
such action, or refrain from taking such action, with respect to such Possible Default or Event of
Default as it shall deem advisable or in the best interests of the Banks.

     SECTION 12.10. INDEMNIFICATION. Whether or not the transactions contemplated hereby
are consummated, the Banks agree to indemnify upon demand the Agent in its capacity as such (to the
extent not reimbursed by the Borrower and without limiting the Borrower’s obligation to do so), Pro
rata according to the respective amounts of their Commitments from and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted
against the Agent in its capacity as agent in any way relating to or arising out of this Agreement,
the Notes or any Related Writing, or the transactions contemplated hereby or thereby, or any action
taken or omitted to be taken by the Agent under or in connection with the foregoing,
provided, that no Bank shall be liable to the Agent for any portion of such liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements to the extent determined in a final, non-appealable judgment by a court of competent
jurisdiction to have resulted from the Agent’s gross negligence or willful misconduct or from any
action taken or omitted by the Person serving as the Agent in any capacity other than as agent
under this Agreement, provided, that no action taken in accordance with the directions of
the Majority Banks, the Required Banks, the Super Majority Banks or all of the Banks, as
applicable, shall be deemed to constitute gross negligence or willful misconduct for purposes of
this Section 12.10 or Section 12.04 or 12.16 hereof. If any indemnity furnished to the Agent for
any purpose shall, in the reasonable opinion of the Agent,

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be insufficient or become impaired, the Agent may call for additional indemnity (other than
against the Agent’s gross negligence or willful misconduct to the extent determined in a final,
non-appealable judgment by a court of competent jurisdiction) and cease, or not commence, to do the
acts indemnified against until such additional indemnity is furnished. The agreements in this
Section 12.10 shall survive the termination of this Agreement, the payment of the Debt and the
resignation or removal of the Agent. Without limitation of the foregoing, each Bank shall
reimburse the Agent upon demand for its Pro rata share of any costs or out-of-pocket expenses
(including reasonable attorneys’ fees) incurred by the Agent in connection with the preparation,
negotiation, execution, delivery, administration, modification, amendment or enforcement (whether
through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or
responsibilities under, this Agreement, any Related Writing or any document contemplated by or
referred to herein, to the extent that the Agent is not reimbursed for such costs or expenses by or
on behalf of the Borrower and such costs and expenses do not result from the Agent’s gross
negligence or willful misconduct to the extent determined in a final, non-appealable judgment by a
court of competent jurisdiction.

     SECTION 12.11. AGENTS IN THEIR INDIVIDUAL CAPACITIES. KeyBank National Association,
PNC Bank, National Association and their respective Affiliates may make loans to, issue letters of
credit for the account of, accept deposits from, acquire equity interests in and generally engage
in any kind of banking, trust, financial advisory, underwriting or other business with each of the
Parent, the Borrower and their respective Subsidiaries as though KeyBank National Association or
PNC Bank, National Association, as applicable, were not an Agent and, without notice to or consent
of the Banks (other than any consent of the Majority Banks, the Required Banks, the Supermajority
Banks or all of the Banks as may be required hereunder). The Banks acknowledge that, pursuant to
such activities, KeyBank National Association, PNC Bank, National Association or their respective
Affiliates may receive information regarding the Parent, the Borrower or their Subsidiaries
(including information that may be subject to confidentiality obligations in favor of the Parent,
the Borrower or their Subsidiaries) and acknowledge that the Agents shall be under no obligation to
provide such information to them. With respect to its Loans, each of KeyBank National Association
and PNC Bank, National Association and their respective Affiliates shall have the same rights and
powers under this Agreement as any other Bank and may exercise such rights and powers as though it
were not the Agent or the Syndication Agent, as the case may be, and the terms “Bank” and “Banks”
include KeyBank National Association and PNC Bank, National Association in their individual
capacities.

     SECTION 12.12. EQUALIZATION PROVISION. Each Bank agrees with the other Banks that if
it at any time shall obtain any Advantage over the other Banks or any thereof in respect of
Borrower’s Debt to the Banks including without limitation in respect of the Letters of Credit
listed on Exhibit C attached hereto (except as to Swing Loans prior to the Agent’s giving of notice
to participate and under Sections 4.06, 4.07, 4.08, 4.09, 4.10 and/or 4.11 hereof), it will
purchase from the other Banks, for Cash and at par, such additional participation in Borrower’s
Debt to the Banks as shall be necessary to nullify the Advantage. If any said Advantage resulting
in the purchase of an additional participation as aforesaid shall be recovered in whole or in part
from the Bank receiving the Advantage each such purchase shall be rescinded, and the purchase price
restored (but without interest unless the Bank receiving the Advantage is required to pay interest
on the Advantage to the Person recovering the Advantage from such Bank)

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ratably to the extent of the recovery. Each Bank further agrees with the other Banks that if
it at any time shall receive any payment from or on behalf of Borrower on any Indebtedness owing by
the Borrower to that Bank by reason of offset as permitted by Section 11.04 hereof, it will apply
such payment first to any and all Debt owing by Borrower to that Bank pursuant to this Agreement
(including, without limitation, any participation purchased or to be purchased pursuant to this
Section 12.13) until Borrower’s Debt has been paid in full. The Borrower agrees that any Bank so
purchasing a participation from the other Banks pursuant to this Section may exercise all its
rights of payment (including such right of set-off) with respect to such participation as fully as
if such Bank were a direct creditor of the Borrower in the amount of such participation.

     SECTION 12.13. NO RELIANCE ON AGENTS’ CUSTOMER IDENTIFICATION PROGRAMS. Each Bank
acknowledges and agrees that neither such Bank, nor any of its Affiliates, participants or
assignees may rely on the Agents, or either of them, to carry out such Bank’s, Affiliate’s,
participant’s or assignee’s customer identification program, or other obligations required or
imposed under or pursuant to the USA Patriot Act or the regulations thereunder or any other
Anti-Terrorism Law, including, without limitation, any identity verification procedures, any record
keeping, any comparisons with government lists, any customer notices or any other procedures
required under the USA Patriot Act, its regulations or any other Anti-Terrorism Law or laws
concerning money-laundering or similar activities.

     SECTION 12.14. BANKRUPTCY. In the event a bankruptcy or other insolvency proceeding
is commenced by or against the Borrower or the Parent with respect to the Debt, the Agent shall
have the sole and exclusive right to file and pursue a joint proof of claim on behalf of all Banks.
Any votes with respect to such claims or otherwise with respect to such proceedings shall be
subject to the vote of the Required Banks, Super Majority Banks or all of the Banks as required by
this Agreement. Each Bank irrevocably waives its right to file or pursue a separate proof of claim
in any such proceedings unless the Agent fails to file such claim within thirty (30) days after
receipt of written notice from the Banks requesting that Agent file such proof of claim.

     SECTION 12.15. DELINQUENT BANKS. Notwithstanding anything to the contrary contained
in this Agreement, any Note or other Related Writing, any Bank that fails (i) to make available to
the Agent its Pro rata share of any Loan, (ii) to comply with the provisions of Section 12.12 or
Section 11.04 hereof with respect to making dispositions and arrangements with the other Banks,
where such Bank’s share of any payment received, whether by setoff or otherwise, is in excess of
its Pro rata share of such payments due and payable to all of the Banks, in each case as, when and
to the full extent required by the provisions of this Agreement, or (iii) to pay over to the Agent
or any other Bank any other amount required to be paid by it within the time period specified for
any such payment, or if no time period is specified, if such failure continues for a period of
seven (7) Cleveland Banking Days after notice from the Agent, shall be deemed delinquent (a
“Delinquent Bank”) and shall be deemed a Delinquent Bank until such time as such delinquency is
satisfied. In addition to the rights and remedies that may be available to the Agent at law and in
equity, a Delinquent Bank’s right to participate in the administration of this Agreement, the
Notes, the Guaranty and the other Related Writings, including, without limitation, any rights to
consent to or direct any action or inaction of the Agent pursuant to this Agreement or otherwise,
or to be taken into account in the calculation of Majority Banks, Required Banks or Super Majority
Banks or any matter requiring approval of all

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of the Banks, shall be suspended while such Bank is a Delinquent Bank; provided that
the consent of a Delinquent Bank shall be required for any increase of its Commitment or any
amendment to Section 12.12 hereof. A Delinquent Bank shall be deemed to have assigned any and all
payments due it from the Borrower or the Parent, whether on account of outstanding Loans, interest,
fees or otherwise, to the remaining nondelinquent Banks for application to, and reduction of, their
respective Pro rata shares of all outstanding Loans, but only to the extent of the amount necessary
to cure the default by such Delinquent Bank. Each Delinquent Bank hereby authorizes the Agent to
distribute such payments to the nondelinquent Banks in proportion to their respective Pro rata
shares of all outstanding Loans. The provisions of this Section shall apply and be effective
regardless of whether a Possible Default or Event of Default occurs and is then continuing, and
notwithstanding (i) any other provision of this Agreement to the contrary or (ii) any instruction
of the Borrower as to its desired application of payments. The Agent shall be entitled to (i)
withhold or set off, and to apply to the payment of the obligations of any Delinquent Bank any
amounts to be paid to such Delinquent Bank under this Agreement, (ii) collect interest from such
Delinquent Bank for the period from the date on which the payment was due at the rate per annum
equal to the Federal Funds Rate plus two percent (2.0%), for each day during such period,
and (iii) bring an action or suit against such Delinquent Bank in a court of competent jurisdiction
to recover the defaulted obligations of such Delinquent Bank. A Delinquent Bank shall be deemed to
have satisfied in full a delinquency when and if, as a result of application of the assigned
payments to all outstanding Loans of the nondelinquent Banks or as a result of other payments by
such Delinquent Bank to the nondelinquent Banks, the Banks’ respective Pro rata shares of all
outstanding Loans have returned to those in effect immediately prior to such delinquency and
without giving effect to the nonpayment causing such delinquency.

     SECTION 12.16. DUTIES IN THE CASE OF ENFORCEMENT. In case one or more Events of
Default have occurred and shall be continuing, and whether or not acceleration of the Debt shall
have occurred, the Agent may, and if so requested by the Required Banks and the Banks have provided
to the Agent such additional indemnities (except against the Agent’s gross negligence or willful
misconduct to the extent determined in a final, non-appealable judgment by a court of competent
jurisdiction) and assurances in accordance with their respective Pro rata shares of the Total
Revolving Loan Commitments against expenses and liabilities as the Agent may reasonably request
(without limiting the Borrower’s obligations to reimburse and indemnify the Agent hereunder), shall
proceed to enforce the provisions of this Agreement, the Guaranty and the Security Documents and
exercise all or any legal and equitable and other rights or remedies as it may have. The Agent
shall be the party that exercises remedies or brings enforcement actions on behalf of the Banks.
The Required Banks may direct the Agent in writing as to the method and the extent of any such
exercise, the Banks hereby agreeing to indemnify and hold harmless the Agent in accordance with
their respective Pro rata shares of the Total Revolving Loan Commitments from all liabilities
(except liabilities resulting from Agent’s gross negligence or willful misconduct to the extent
determined in a final, non-appealable judgment by a court of competent jurisdiction) incurred in
respect of all actions taken or omitted in accordance with such directions, provided that
the Agent need not comply with any such direction to the extent that the Agent reasonably believes
the Agent’s compliance with such direction to be unlawful or commercially unreasonable in any
applicable jurisdiction.

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ARTICLE XIII

MISCELLANEOUS

     SECTION 13.01. NO WAIVER; CUMULATIVE REMEDIES. No failure or delay on the part of the
Agent or any Bank in exercising any right, power or privilege hereunder and no omission or course
of dealing on the part of the Agent, any Bank or the holder of any Note in exercising any right,
power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial
exercise of any such right, power or remedy preclude any other or further exercise thereof or the
exercise of any other right, power or remedy hereunder. The remedies herein provided are
cumulative and in addition to any other rights, powers or privileges that the Agent or any Bank
would otherwise have. No notice to or demand on the Borrower in any case shall entitle the
Borrower to any other or further notice or demand in similar or other circumstances or constitute a
waiver of the rights of the Agent or the Banks to any other or further action in any circumstances
without notice or demand.

     SECTION 13.02. AMENDMENTS, CONSENTS. No amendment, modification, termination, or
waiver of any provision of this Agreement, the Notes, the Guaranty or the Pledge Agreement, nor any
consent to any variance therefrom, shall be effective unless the same shall be in writing and
signed by the Majority Banks, Required Banks, the Super Majority Banks or all of the Banks, as
appropriate, under this Section 13.02, and any such amendment, consent, modification, termination
or waiver shall be effective only in the specific instance and for the specific purpose for which
given. Unanimous consent of the Banks, or, if there is any borrowing hereunder, the holders of one
hundred percent (100%) (by outstanding principal amount) of the Notes (excluding the Swing Line
Notes), shall be required with respect to (a) an increase in any Commitment, an increase in the
Maximum Swing Line Amount, the extension of maturity of the Notes (other than the Swing Line
Notes), except as provided in Section 5.08, or the payment date of interest thereunder or of any
fees hereunder, (b) any reduction in the rate of interest on the Notes (other than the Swing Line
Notes), or in any amount of principal or interest due on any Note (other than the Swing Line Notes)
or in the amount of fees or other amounts due the Banks (or any of them) hereunder or under the
Related Writings or any change in the manner of Pro rata application of any payment made by the
Borrower to the Banks hereunder, or any change in amortization schedules, or in the manner of
calculating fees or prepayment penalties, (c) any change in any percentage voting requirements in
this Agreement, (d) the release of all of the value of the Guaranty, or any material amendment or
modification thereto, or any other guarantee in favor of the Banks or the release of any of the
Collateral other than as contemplated by the Pledge Agreement, provided, that only the
consent of the Required Banks will be required to increase the outstanding and unredeemed principal
amount of Indebtedness that may be incurred by the Parent under any of the Senior Notes Indentures
and to modify the provisions of, and definitions in this Agreement or the Guaranty related thereto,
(e) any amendment to the definitions of Majority Banks, Required Banks or Super Majority Banks set
forth herein or to this Section 13.02, or (f) any material amendment to any representation,
warranty, covenant, Possible Default, Event of Default or remedy provided herein or under any
Related Writing. Notwithstanding anything contained in this Agreement or any Related Writing to
the contrary, (x) the consent of the Majority Banks shall be required for any increases in the
amount reflected for “Total Schedule A Uses of Capital” on Schedule A attached to the Side Letter
as of the Restatement Effective Date up to and including Fifty Million Dollars ($50,000,000) in the
aggregate and the consent of the Required Banks shall be required for any increases in such

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amount by more than Fifty Million Dollars ($50,000,000) in the aggregate and (y) the consent
of the Required Banks shall be required for any amendments, modifications or other changes to
Section 8.14 hereof or Section 9.13 of the Guaranty. The consent of the Super Majority Banks shall
be required for any amendments, modifications or other changes to Section 8.13 hereof or Section
9.14 of the Guaranty. Any amendment, modification, termination, or waiver of any provision of this
Agreement, the Notes, the Guaranty or the Pledge Agreement, and any consent to any variance
therefrom, not otherwise requiring the consent of the Majority Banks, the Supermajority Banks or
all of the Banks shall not be effective unless the same shall be in writing and signed by the
Required Banks. Notice of amendments, modifications, waivers or consents ratified by the Banks
hereunder shall immediately be forwarded by the Agent to all Banks. There shall be no amendment,
modification or waiver of any provision in the this Agreement or the Related Writings with respect
to Swing Loans without the written consent of each Swing Line Lender; provided, that,
notwithstanding anything contained herein to the contrary, the Agent and the Swing Line Lenders
shall have the right to decrease the interest rate on the Swing Loans, extend the maturity of
payments on the Swing Loans for up to ten (10) days beyond the applicable Swing Loan Maturity Date
and decrease the amount of payments on the Swing Loans, without the consent of any other Banks,
other than the other Swing Line Lender and any Bank that has purchased a participation in such
Swing Loans pursuant to Section 2.07(c) hereof. There shall be no amendment, modification or
waiver of any provision in the this Agreement or the Related Writings with respect to Letters of
Credit without the written consent of KeyBank National Association, in its capacity as Issuing
Bank, and each other Bank that has issued a Letter of Credit and is acting as an Issuing Bank at
the time such amendment, modification or waiver is requested and, if approved, deemed effective.
Each Bank or other holder of a Note shall be bound by any amendment, waiver or consent obtained as
authorized by this Section 13.02, regardless of its failure to agree thereto.

     By its signature hereto, each Bank consents to the terms and provisions of the Second Amended
and Restated Guaranty, dated as of the date hereof, and issued by the Parent to the Banks, the
Agents, and the Documentation Agent.

     SECTION 13.03. NOTICES. Except as otherwise expressly provided herein, all notices,
requests, demands and other communications provided for hereunder shall be in writing (including
telegraphic, telex, facsimile, transmission or cable communication) and mailed, telexed,
telegraphed, facsimile transmitted, cabled or delivered, if to the Borrower, addressed to it at the
address specified on the signature pages of this Agreement, if to a Bank, addressed to the address
of such Bank specified on the signature pages of this Agreement (or any Assignment and Assumption
Agreement executed by such Bank substantially in the form of Exhibit G attached hereto) and if to
the Agents, addressed to them at the address of the Agent or the Syndication Agent, as applicable,
specified on the signature pages of this Agreement. All notices, statements, requests, demands and
other communications provided for hereunder shall be deemed to be given or made when delivered or
forty-eight (48) hours after being deposited in the mail with postage prepaid by registered or
certified mail or delivered to a telegraph company, addressed as aforesaid, except that notices
from the Borrower to the Agent or the Banks pursuant to any of the provisions hereof shall not be
effective until received by the Agent or the Banks.

     SECTION 13.04. COSTS, EXPENSES AND TAXES. The Borrower agrees to pay on demand all
costs and expenses of the Banks and the Agents, and any expenses incurred in

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connection with the preparation of this Agreement, the Notes and any other Related Writings,
including, without limitation (i) administration and out-of-pocket expenses of the Agent in
connection with the administration of this Agreement, the Notes, the collection and disbursement of
all funds hereunder and the other instruments and documents to be delivered hereunder, amendments,
modifications, approvals, consents or waivers hereto or hereunder, the addition, substitution or
removal of any Collateral, (ii) extraordinary expenses of the Agents or the Banks in connection
with the administration of this Agreement, the Notes and the other instruments and documents to be
delivered hereunder, (iii) the reasonable fees and out-of-pocket expenses of Agent’s Special
Counsel in connection with the negotiation, preparation, execution and delivery of this Agreement
and related matters (including, without limitation, those matters set forth in clause (i) above),
(iv) all costs and expenses, including reasonable attorneys’ fees and out-of-pocket expenses, in
connection with the restructuring or enforcement of or preservation of rights under this Agreement,
the Notes or any other Related Writing or any litigation, proceeding or dispute whether arising
hereunder or otherwise, in any way related to the Agent’s or any Bank’s relationship with the
Borrower or the Parent in respect of the Loans or other extensions of credit hereunder, this
Agreement, the Notes and the other Related Writings, (v) all reasonable fees, expenses and
disbursements of the Agent incurred in connection with UCC searches and UCC filings and (vi) all
expenses relating to the use of Intralinks, SyndTrak or any other similar system for the
dissemination and sharing of documents and information in connection with the Loans. In addition,
the Borrower shall pay any and all stamp and other taxes and fees payable or determined to be
payable in connection with the execution and delivery of this Agreement or the Notes, and the other
instruments and documents to be delivered hereunder, and agrees to save the Agents and each Bank
harmless from and against any and all liabilities with respect to or resulting from any delay in
paying or omission to pay such taxes or fees. The covenants of this Section 13.04 shall survive
the repayment of the Loans and the termination of the obligations of the Banks hereunder to make
Loans or issue Letters of Credit.

     SECTION 13.05. SURVIVAL OF REPRESENTATIONS AND WARRANTIES.All
representations and warranties of the Borrower made in or pursuant to this Agreement or in any
certificate or other Related Writing in connection herewith shall survive the closing hereof or the
making of the Loans or other transactions in connection with which given.

     SECTION 13.06. OBLIGATIONS SEVERAL; NO FIDUCIARY OBLIGATIONS.The obligations
of the Banks hereunder are several and not joint. Nothing contained in this Agreement and no
action taken by the Agents or the Banks pursuant hereto shall be deemed to constitute the Banks a
partnership, association, joint venture or other entity. No default by any Bank hereunder shall
excuse the other Banks from any obligation under this Agreement; but no Bank shall have or acquire
any additional obligation of any kind by reason of such default. The relationship among the
Borrower and the Parent, on the one hand, and the Banks and the Agents, on the other, with respect
to this Agreement, any Note and any other Related Writing is and shall be solely that of debtor and
creditor, respectively, and no Bank has any fiduciary obligation toward the Borrower or the Parent
with respect to any such documents or the transactions contemplated hereby or thereby.

     SECTION 13.07. EXECUTION IN COUNTERPARTS. This Agreement may be executed in any
number of counterparts and by different parties hereto in separate counterparts,

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each of which when so executed and delivered shall be deemed to be an original and all of
which taken together shall constitute but one and the same agreement.

     SECTION 13.08. BINDING EFFECT; PARTICIPATIONS AND ASSIGNMENT. (a) This Agreement
shall become effective on the Restatement Effective Date and thereafter shall be binding upon and
inure to the benefit of the Borrower and each of the Banks and their respective successors and
assigns, except that the Borrower shall not have the right to assign any of its rights or
obligations hereunder or any interest herein without the prior written consent of all of the Banks,
which consent may be withheld in their sole discretion. Each Bank may at any time grant
participations in any of its rights hereunder or under its Note or Notes to another commercial
bank, financial institution, mutual fund or any institutional “accredited investor” (as defined in
Regulation D of the Securities Act of 1933, as amended), provided, that in the case of any
such participation, (i) the participant shall not have any rights under this Agreement, the Notes
or any other Related Writing (the participant’s rights against such Bank in respect of any such
participation to be those set forth in the agreement executed by such Bank in favor of the
participant relating thereto), (ii) such participant shall not be a Person controlling, controlled
by or under common control with, or which is not otherwise free from influence or control by, the
Borrower and/or the Parent and (iii) all amounts payable to such Bank hereunder shall be determined
as if such Bank had not sold such participation; and provided, further, that no
Bank shall transfer, assign or grant any participation under this Agreement under which the
participant shall have rights to approve any amendment to or waiver of this Agreement or any
Related Writing. Any Bank which sells a participation shall promptly notify the Agent of such sale
and the identity of the purchaser of such interest.

     (b) Notwithstanding the foregoing, (i) any Bank may assign all or a portion of its Loans
and/or Commitments and its rights and obligations hereunder to an affiliate of such Bank;
provided that such assignee (x) shall have a net worth or unfunded commitments, as the case
may be, as of the date of such assignment of not less than $100,000,000.00 (unless otherwise
approved by the Agent and, so long as no Possible Default or Event of Default exists, the Borrower)
and (y) shall not be a Person controlling, controlled by or under common control with, or which is
not otherwise free from influence or control by, the Borrower and/or the Parent, and (ii) with the
consent of the Agent and, so long as no Possible Default or Event of Default then exists, the
Borrower (which consents shall not be unreasonably withheld or delayed), any Bank may assign all or
a portion of its Loans and/or Commitments and its rights and obligations hereunder and under the
Related Writings to one or more commercial banks, financial institutions (including one or more
Banks), mutual funds or institutional “accredited investors” (as defined in Regulation D of the
Securities Act of 1933, as amended); provided that (A) any assignment of a Bank’s Loans
shall include a ratable part of such Bank’s Commitment and (B) the consent of the Agent (which
consent shall not be unreasonably withheld or delayed) shall be required for any assignment of a
Commitment to the extent any Letters of Credit are outstanding. No assignment pursuant to
subsection (ii) of the immediately preceding sentence shall be in an aggregate amount less than Ten
Million Dollars ($10,000,000). If any Bank so sells all or a part of its rights hereunder or under
any Note, any reference in this Agreement or such Note to such assigning Bank shall thereafter
refer to such Bank and to the respective assignee to the extent of their respective interests and
the respective assignee shall have, to the extent of such assignment (unless otherwise provided
therein), the same rights and benefits as it would if it were such assigning Bank. Each assignment
pursuant to Section 13.08(b)(ii) shall be

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effected by the
assigning Bank and the assignee Bank executing a Bank Assignment and Assumption Agreement
substantially in the form of Exhibit G attached hereto (appropriately completed). At the time of
any such assignment pursuant to Section 13.08(b)(ii), (X) Exhibit A attached hereto shall be deemed
to be amended to reflect the Commitments of the respective assignee (which shall result in a
corresponding reduction of the Commitment of the assigning Bank) and of the other Banks, (Y) if any
such assignment occurs after the Restatement Effective Date, the Borrower will issue new Notes to
the respective assignee and to the assigning Bank (upon delivery of the existing Note or Notes of
such assigning Bank) in conformity with the requirements of this Agreement and (Z) the Agent shall
receive at the time of each such assignment, from the assigning or assignee Bank (or, in the case
of any transfer of the Commitment of an Affected Bank pursuant to Section 4.15, the Borrower), the
payment of a nonrefundable assignment fee of $3,500. Any Bank which sells all or a part of its
rights hereunder or under any Note shall promptly notify the Agent (to the extent the Agent’s
consent to such assignment is not otherwise needed) and the Borrower of such sale and the identity
of the purchaser of such interest.

     (c) Notwithstanding any other provisions of this Section 13.08, no transfer or assignment of
the interests or obligations of any Bank hereunder or any grant of participations therein shall be
permitted if such transfer, assignment or grant would require the Borrower to file a registration
Statement with the Securities and Exchange Commission or to qualify the loans under the “Blue Sky”
laws of any State.

     (d) Notwithstanding any other provisions of this Section 13.08, so long as no Event of Default
has occurred and is continuing and the Agent or the Syndication Agent, as applicable, has not
resigned or been removed pursuant to the provisions of this Agreement, each Bank serving as an
Agent agrees that it will not assign or transfer any of its Loans and/or Commitments to the extent
that the amount of the Loans and/or Commitments that such Agent would continue to hold following
such assignment or transfer would be less than eight percent (8%) of the aggregate Loans and/or
Commitments of all of the Banks.

     (e) Notwithstanding any other provision set forth in this Agreement, any Bank may at any time
pledge or assign all or any portion of its rights under this Agreement, the Guaranty and the other
documents executed and delivered in connection herewith and therewith (including, without
limitation, the Notes held by it) to any Federal Reserve Bank in accordance with Regulation A of
the Federal Reserve Board without notice to, or the consent of, the Agents, the Borrower or the
Parent, provided, that no such pledge or assignment or enforcement thereof shall release a
Bank from any of its obligations hereunder or substitute any such pledgee or assignee for such Bank
as a party hereto.

     (f) The Syndication Agent and the Documentation Agent shall not have any additional rights or
obligations under this Agreement, the Notes and the other Related Writings, except for those
rights, if any, as a Bank, Issuing Bank or Swing Line Lender.

     SECTION 13.09. INDEMNIFICATION BY THE BORROWER. The Borrower shall indemnify and hold
harmless the Agents, the Banks and their respective directors, officers, employees and Affiliates
from and against any and all liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, costs, expenses and disbursements of any kind or nature

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whatsoever including,
without limitation, reasonable fees and disbursements of counsel and
settlements costs, which may be imposed on, incurred by, or asserted against the Agents, the
Banks and their respective directors, officers, employees and Affiliates in connection with any
investigative, administrative or judicial proceeding (whether the Agents and the Banks are or are
not designated as a party thereto and whether brought by the Borrower, the Parent, any of their
Affiliates or any other Person) relating to or arising out of this Agreement, the Notes or the
other Related Writings, the transactions contemplated hereby or thereby, including, but not limited
to, the Permitted Non-Affiliate Loans, or any actual or proposed use of proceeds hereunder or
thereunder, except that neither the Agents and the Banks nor any directors, officers, employees and
Affiliates thereof shall have the right to be indemnified hereunder for their own gross negligence
or willful misconduct, as determined in a final, non-appealable judgment by a court of competent
jurisdiction. All obligations under this Section 13.09 shall survive any termination of this
Agreement.

     SECTION 13.10. GOVERNING LAW. This Agreement, each of the Notes and each other
Related Writing shall be governed by and construed in accordance with the laws of the State of
Ohio, without regard to the principles of conflict of laws and the respective rights and
obligations of the Borrower and the Banks shall be governed by Ohio law.

     SECTION 13.11. SEVERABILITY OF PROVISIONS; CAPTIONS. Any provision of this Agreement
which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof or affecting the validity or enforceability of such provision in any
other jurisdiction. The several headings to Sections and subsections herein and the Table of
Contents hereto are inserted for convenience only and shall be ignored in interpreting the
provisions of this Agreement.

     SECTION 13.12. PURPOSE. Each of the Banks represents and warrants to the Borrower
that it is entering into this Agreement with the present intention of acquiring any Note issued
pursuant hereto solely in connection with such Bank’s commercial lending activities and not for the
purpose of distribution or resale, it being understood, however, that each Bank shall at all times
retain full control over the disposition of its assets.

     SECTION 13.13. CONSENT TO JURISDICTION. The Borrower agrees that any action or
proceeding to enforce or arising out of this Agreement, the Notes or the Pledge Agreement may be
commenced in the Court of Common Pleas for Cuyahoga County, Ohio or in the District Court of the
United States for the Northern District of Ohio, and the Borrower waives personal service of
process and agrees that a summons and complaint commencing an action or proceeding in any such
court shall be properly served and shall confer personal jurisdiction over the Borrower if served
to the Borrower at the address listed opposite the signature of the Borrower at the end of this
Agreement or as otherwise provided by the laws of the State of Ohio or the United States. In
furtherance of the foregoing, the Borrower irrevocably waives any objection it may now or hereafter
have as to the venue of any such proceeding brought in such a court or that such a court is an
inconvenient forum.

     SECTION 13.14. ENTIRE AGREEMENT. This Agreement, the Notes, the other Related
Writings and any other agreement, document or instrument attached hereto or referred to

-89-

 

herein or
executed on or as of the date hereof integrate all the terms and conditions mentioned
herein or incidental hereto and supersede all oral representations and negotiations and prior
writings with respect to the subject matter hereof.

     SECTION 13.15. JURY TRIAL WAIVER. THE BORROWER, THE AGENT AND EACH OF THE BANKS WAIVE
ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT
OR OTHERWISE, AMONG BORROWER AND THE BANKS, OR ANY THEREOF, ARISING OUT OF, IN CONNECTION WITH,
RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH, THIS
AGREEMENT, THE PLEDGE AGREEMENT OR ANY NOTE OR OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR
DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO OR THERETO. THIS WAIVER SHALL
NOT IN ANY WAY AFFECT, WAIVE, LIMIT, AMEND OR MODIFY ANY BANK’S ABILITY TO PURSUE REMEDIES PURSUANT
TO ANY CONFESSION OF JUDGMENT OR COGNOVIT PROVISION CONTAINED IN ANY NOTE OR OTHER INSTRUMENT,
DOCUMENT OR AGREEMENT AMONG THE BORROWER AND THE BANKS, OR ANY THEREOF. THE BORROWER (A) CERTIFIES
THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY BANK OR ANY AGENT HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH BANK OR AGENT WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT THE AGENTS AND THE BANKS HAVE BEEN INDUCED TO ENTER INTO
THIS AGREEMENT, THE NOTES AND THE OTHER RELATED WRITINGS TO WHICH THEY ARE PARTIES BY, AMONG OTHER
THINGS, THE WAIVER CONTAINED IN THIS SECTION 13.15. THE BORROWER ACKNOWLEDGES THAT IT HAS HAD AN
OPPORTUNITY TO REVIEW THIS SECTION 13.15 WITH LEGAL COUNSEL AND THAT THE BORROWER AGREES TO THE
FOREGOING AS ITS FREE, KNOWING AND VOLUNTARY ACT.

     SECTION 13.16. SURVIVAL. All indemnities set forth herein shall survive the execution
and delivery of this Agreement and the making and repayment of the Loans and the satisfaction of
all other obligations under this Agreement.

     SECTION 13.17. INDEPENDENCE OF COVENANTS. All covenants hereunder shall be given
independent effect so that if a particular action or condition is not permitted by any of such
covenants, the fact that it would be permitted by an exception to, or be otherwise within the
limitations of, another covenant shall not avoid the occurrence of a Possible Default or an Event
of Default if such action is taken or condition exists, and if a particular action or condition is
expressly permitted under any covenant, unless expressly limited to such covenant, the fact that it
would not be permitted under the general provisions of another covenant shall not constitute a
Possible Default or an Event of Default if such action is taken or condition exists.

     SECTION 13.18. INTERPRETATION. The Borrower, each Agent and each Bank acknowledges
that such party, either directly or through such party’s representatives, has participated in the
drafting of this Agreement, and any applicable rule of construction that ambiguities are to be
resolved against the drafting party shall not be applied in connection with the construction or
interpretation of this Agreement.

-90-

 

     SECTION 13.19. GENERAL LIMITATION OF LIABILITY. No claim may be made by the Borrower,
the Parent, any Subsidiary of the Parent, any Bank, the Agent, the Syndication Agent, the
Documentation Agent or any other Person against the Agent, the Syndication Agent, the Documentation
Agent or any other Bank or the Affiliates, directors, officers, employees, attorneys or agents of
any of them for any damages other than compensatory damages in respect of any claim for breach of
contract or any other theory of liability arising out of or related to the transactions
contemplated by this Agreement, the Notes, the Guaranty or any other Related Writing, or any act,
omission or event occurring in connection therewith; and the Borrower, each Bank, the Agent, the
Syndication Agent and the Documentation Agent hereby, to the fullest extent permitted under
applicable law, waives, releases and agrees not to sue or counterclaim upon any such claim for any
special, consequential or punitive damages, whether or not accrued and whether or not known or
suspected to exist in its favor.

     SECTION 13.20. USA PATRIOT ACT NOTIFICATION. Each Bank, each Agent (for itself and
not on behalf of any Bank) and the Documentation Agent (for itself and not on behalf of any Bank)
hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act, such Bank,
such Agent and the Documentation Agent are required to obtain, verify and record information that
identifies the Borrower, which information includes the name and address of the Borrower and other
information that will allow such Bank, such Agent or the Documentation Agent, as applicable, to
identify the Borrower in accordance with the USA Patriot Act.

[Remainder of page intentionally left blank; signature pages follow]

-91-

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered as of the date set forth above, each by an officer thereunto duly authorized.

	 	 	 	 	 
	Address: 

1100 Terminal Tower 

Cleveland, Ohio 44113	 	FOREST CITY RENTAL PROPERTIES

CORPORATION
	 

	 	By:	 	/s/ Robert G. O’Brien
	 

	 	 	 	 
	 

	 	 	 	Name: Robert G. O’Brien
	 

	 	 	 	Title: Executive Vice President
	 
	 	 	 	 
	Address:
	 	KEYBANK NATIONAL ASSOCIATION,

	127 Public Square

Cleveland, Ohio 44114	 	individually and as Agent
	 

	 	By:	 	/s/ Joshua K. Mayers
	 

	 	 	 	 
	 

	 	 	 	Name: Joshua K. Mayers
	 

	 	 	 	Title: Vice President
	 
	 	 	 	 
	Address: 
	 	PNC BANK, NATIONAL ASSOCIATION,

	1900 East Ninth Street 

22nd Floor

Mail Stop: B7-YB13-22-1

Cleveland, Ohio 44114	 	individually and as Syndication Agent
	 

	 	By:	 	/s/ John E. Wilgus, II
	 

	 	 	 	 
	 

	 	 	 	Name: John E. Wilgus, II
	 

	 	 	 	Title: Senior Vice President
	 
	 	 	 	 
	Address:
	 	BANK OF AMERICA, N.A., individually

	225 Franklin Street

2nd Floor

Mail Code: MA1-225-02-04

Boston, Massachusetts 02110	 	and as Documentation Agent
	 

	 	By:	 	/s/ Michael M. Pomposelli
	 

	 	 	 	 
	 

	 	 	 	Name: Michael M. Pomposelli
	 

	 	 	 	Title: Senior Vice President
	 
	 	 	 	 
	Address:

925 Euclid Avenue

Mailcode — CM17

Cleveland, Ohio 44115	 	THE HUNTINGTON NATIONAL BANK
	 

	 	By:	 	/s/ Michael L. Kauffman
	 

	 	 	 	 
	 

	 	 	 	Name:  Michael L. Kauffman
	 

	 	 	 	Title: SVP

[Signature
page to Second Amended and Restated Credit Agreement]

 

 

	 	 	 	 	 
	Address:

Attn: Dennis J. Redpath, SVP

Real Estate Banking Group

209 South LaSalle Street, Suite 210

Chicago, Illinois 60604 
	 	U.S. BANK NATIONAL ASSOCIATION
	 

	 	By:	 	/s/ Dennis J. Redpath
	 

	 	 	 	 
	 

	 	 	 	Name: Dennis J. Redpath
	 

	 	 	 	Title: Senior Vice President
	 
	 	 	 	 
	Address:

600 Superior Avenue East

Cleveland, Ohio 44114	 	FIFTH THIRD BANK
	 

	 	By:	 	/s/ Tim Pace
	 

	 	 	 	 
	 

	 	 	 	Name: Tim Pace
	 

	 	 	 	Title: Vice President
	 
	 	 	 	 
	Address:

One Fountain Plaza

Buffalo, New York 14203-1495	 	MANUFACTURERS AND TRADERS TRUST COMPANY
	 

	 	By:	 	/s/ David Ladori
	 

	 	 	 	 
	 

	 	 	 	Name: David Ladori
	 

	 	 	 	Title: Vice President
	 
	 	 	 	 
	Address:

Attn: Florentina Djulvezan, V.P.

Commercial Real Estate

1215 Superior Avenue, 6th Floor

Cleveland, Ohio 44114	 	RBS CITIZENS, N.A. dba

CHARTER ONE
	 

	 	By:	 	 /s/ Andrew Romanosky
	 

	 	 	 	 
	 

	 	 	 	Name: Andrew Romanosky
	 

	 	 	 	Title: Vice President
	 
	 	 	 	 
	Address:
MAC N2682-050
375 Park Avenue, 5th
Floor
New York, New York 24019-3224	 	WACHOVIA BANK, N.A.
	 

	 	By:	 	/s/ Christopher J. Allabashi
	 

	 	 	 	 
	 

	 	 	 	Name:  Christopher J. Allabashi
	 

	 	 	 	Title:  Vice President

[Signature
page to Second Amended and Restated Credit Agreement]

 

 

	 	 	 	 	 
	Address:

Attn: Ken McDonnell

One Wall Street

21st Floor

New York, New York 10286	 	THE BANK OF NEW YORK MELLON
	 

	 	By:	 	/s/ Kenneth McDonnell
	 

	 	 	 	 
	 

	 	 	 	Name: Kenneth McDonnell
	 

	 	 	 	Title: Managing Director
	 
	 	 	 	 
	Address: 

1301 Avenue of the Americas

New York, New York 10019	 	CALYON NEW YORK BRANCH
	 

	 	By:	 	/s/ Paul T. Ragusin
	 

	 	 	 	 
	 

	 	 	 	Name: Paul T. Ragusin
	 

	 	 	 	Title: Director
	 
	 	 	 	 
	 

	 	By:	 	/s/ John A. Wain
	 

	 	 	 	 
	 

	 	 	 	Name: John A. Wain
	 

	 	 	 	Title: Managing Director
	 
	 	 	 	 
	Address:

Attn: Craig Malloy

Barclays Capital

745 7th Avenue

26th Floor 

New York, New York 10119
	 	BARCLAYS BANK PLC
	 

	 	By:	 	/s/ Craig Malloy
	 

	 	 	 	 
	 

	 	 	 	Name: Craig Malloy
	 

	 	 	 	Title: Director
	 
	 	 	 	 
	 
	 	 	 	 
	Address:

Attn: David J. Bechstein

Vice President

115 S. LaSalle Street

12th Floor West

Chicago, Illinois 60603	 	BMO CAPITAL MARKETS FINANCING, INC.
	 

	 	By:	 	/s/ David J. Bechstein
	 

	 	 	 	 
	 

	 	 	 	Name: David J. Bechstein
	 

	 	 	 	Title: Vice President
	 
	 	 	 	 
	Address:

500 Woodward Ave., 7th Floor

MC 3256

Detroit, Michigan 48226	 	COMERICA BANK
	 

	 	By:	 	/s/ Charles Weddell
	 

	 	 	 	 
	 

	 	 	 	Name: Charles Weddell
	 

	 	 	 	Title: Vice President

[Signature
page to Second Amended and Restated Credit Agreement]

 

 

	 	 	 	 	 
	Address: 

106 South Main Street

Akron, Ohio 44308	FIRSTMERIT BANK, N.A.
	 

	By:	 	/s/ Robert G. Morlan
	 

	 	 	 	 
	 

	 	 	Name: Robert G. Morlan
	 

	 	 	Title: Senior Vice President

[Signature
page to Second Amended and Restated Credit Agreement]

 

 

EXHIBIT A

COMMITMENTS

	 	 	 	 	 
	Bank	 	Maximum Amount	 
	KeyBank National Association
	 	$	50,000,000	 
	PNC Bank, National Association
	 	$	50,000,000	 
	Bank of America, N.A.
	 	$	52,000,000	 
	The Huntington National Bank
	 	$	40,000,000	 
	U.S. Bank National Association
	 	$	40,000,000	 
	Fifth Third Bank
	 	$	34,000,000	 
	Manufacturers and Traders Trust Company
	 	$	32,000,000	 
	RBS Citizens, N.A., d/b/s as Charter One
	 	$	32,000,000	 
	Wachovia Bank, N.A.
	 	$	32,000,000	 
	The Bank of New York Mellon
	 	$	30,000,000	 
	Calyon New York Branch
	 	$	28,000,000	 
	Barclays Bank plc
	 	$	20,000,000	 
	BMO Capital Markets Financing, Inc.
	 	$	20,000,000	 
	Comerica Bank
	 	$	20,000,000	 
	FirstMerit Bank, N.A.
	 	$	20,000,000	 
	TOTAL
	 	$	500,000,000	 

 

 

EXHIBIT B

FORM OF GUARANTY

The Second Amended and Restated Guaranty of Payment of Debt is attached as Exhibit 10.3 to this

Form 8-K filing.

 

 

EXHIBIT C

OUTSTANDING LETTERS OF CREDIT

See attached list.

 

 

Exhibit C

to

2nd Amended and Restated Credit Agreement

FOREST CITY ENTERPRISES, INC. AND SUBSIDIARIES

LETTERS OF CREDIT

As Of January 27,2010

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	DATE ISSUED	 	L/C NUMBER	 	PAYEE	 	PROJECT NAME	 	AMOUNT
	 	 	KeyBank NA	 	 	 	 	 	 	 	 	 	 
	1
	 	07/29/02	 	S305048	 	Capmark Finance	 	Atlantic Ctr-Fort Greene	 	 	527,331	 
	2
	 	07/29/02	 	S314023	 	Merrill Lynch Capital Services	 	FC Edgeworth Lessor, LLC	 	 	3,000,000	 
	3
	 	02/11/04	 	S312552	 	Merrill Lynch Capital Services	 	FC Edgeworth Lessor, LLC	 	 	3,000,000	 
	4
	 	02/06/04	 	S308369	 	St. Paul Fire & Marine Insurance Co.	 	Metropolitan Lofts, et al	 	 	750,000	 
	5
	 	03/12/04	 	S308542	 	Gladden Farms Com. Facilities	 	Gladden Farms	 	 	300,000	 
	6
	 	03/16/04	 	S308567	 	US Fidelity & Guaranty Co.	 	for Corporate	 	 	800,000	 
	7
	 	07/20/04	 	S309295	 	American Insurance Group	 	Hawaii Dev., et al	 	 	3,000,000	 
	8
	 	08/29/05	 	S310646	 	Natl Union Fire Ins., et al	 	Hawaii Dev., et al	 	 	3,000,000	 
	9
	 	10/27/05	 	S310832	 	Redevelopment Agency of City of Oakland	 	Oakland	 	 	600,000	 
	10
	 	05/03/06	 	S311325	 	Natl. Union Fire Ins. Co., et al	 	FC Yonkers Assoc LLC	 	 	2,000,000	 
	11
	 	08/10/06	 	S311633	 	NY State Urban Dev. Corporation	 	New York Times	 	 	4,789,544	 
	12
	 	08/15/06	 	S311646	 	City of Yonkers	 	FC Yonkers Assoc LLC	 	 	450,000	 
	13
	 	09/15/06	 	S311901	 	Great Western Bank	 	Canterberry Crossing	 	 	530,000	 
	14
	 	09/21/06	 	S311917	 	City of New York	 	East River Plaza	 	 	2,250,000	 
	15
	 	04/02/07	 	S312414	 	County Admin-Broward County	 	Gulfstream	 	 	2,520,398	 
	16
	 	05/18/07	 	S312546	 	Village of Skokie	 	Skokie	 	 	1,300,000	 
	17
	 	06/13/07	 	S312609	 	County Admin-Broward County	 	Gulfstream	 	 	560,625	 
	18
	 	06/13/07	 	S312610	 	County Admin-Broward County	 	Gulfstream	 	 	538,624	 
	19
	 	08/24/07	 	S312793	 	Commonwealth Edison	 	Midwest Family Housing	 	 	340,000	 
	20
	 	08/27/07	 	S312798	 	KeyBank	 	FC Las Vegas	 	 	2,000,000	 
	21
	 	10/31/07	 	S312998	 	Natl Union Fire Ins., et al	 	15 properties	 	 	1,508,480	 
	22
	 	11/08/07	 	S313023	 	NY Independent System Operator	 	FC Energy Services	 	 	3,156,000	 
	23
	 	12/06/07	 	S313097	 	Natl Union Fire Ins., et al	 	15 properties	 	 	5,500,000	 
	24
	 	04/17/08	 	S313632	 	Natl Union Fire Ins., et al	 	Beekman	 	 	4,000,000	 
	25
	 	08/05/08	 	S313886	 	Bank of NY Mellon	 	Waterfront	 	 	2,000,000	 
	26
	 	02/19/09	 	S320217	 	Federal Insurance Company	 	Corporate	 	 	7,783,275	 
	27
	 	02/25/09	 	S320231	 	National Bank of AZ	 	Tangerine Crossing	 	 	400,000	 
	28
	 	06/24/09	 	S320456	 	Fidelity and Deposit Company of Maryland	 	East River Plaza	 	 	4,584,669	 
	29
	 	10/02/09	 	S320608	 	Dell Financial Services	 	Corporate	 	 	1,300,000	 
	 
	 	 	 	 	 	 	 	Corporate (Post 10/31/09	 	 	 	 
	30
	 	11/09/09	 	S320175	 	Westchester Fire Insurance Company	 	Transaction)	 	 	570,000	 
	 
	 	 	 	 	 	 	 	Corporate (Post 10/31/09	 	 	 	 
	31
	 	11/09/09	 	S320682	 	The Travelers Indemnity Company	 	Transaction)	 	 	1,200,000	 
	 
	 	 	 	 	 	 	 	Atlantic Yards  (Post	 	 	 	 
	32
	 	12/21/09	 	S320747	 	MTA	 	10/31/09 Transaction)	 	 	5,000,000	 
	 
	 	 	 	 	 	 	 	Atlantic Yards  (Post	 	 	 	 
	33
	 	12/21/09	 	S320746	 	MTA	 	10/31/09 Transaction)	 	 	20,000,000	 
	 
	 	 	 	 	 	 	 	Fl tampa West (Post	 	 	 	 
	34
	 	01/01/10	 	S320765	 	Steven S. Oscher, as Chapter 7 trustee of Smith-Fl	 	10/31/09 Transaction)	 	 	1,250,000	 
	 
	 	 	 	 	 	 	 	Tiago Holdings LLC (Post	 	 	 	 
	35
	 	01/28/10	 	to be issued	 	Target Corporation	 	10/31/09 Transaction)	 	 	1,000,000	 
	 
	 	 	 	 	 	 	 	TOTAL	 	 	91,508,946	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 

 

 

EXHIBIT D-1

FORM OF REVOLVING LOAN NOTE

SECOND AMENDED AND RESTATED REVOLVING LOAN NOTE

(Holder)

			
	$                    
	 	Cleveland, Ohio
	 
	 
	 	 

     FOR VALUE RECEIVED, the undersigned, FOREST CITY RENTAL PROPERTIES CORPORATION, an Ohio
corporation (the “Borrower”), hereby promises to pay to the order of [Name of Holder] (the
“Holder”), in lawful money of the United States of America, at the main office of KeyBank National
Association, Administrative Agent, 127 Public Square, Cleveland, Ohio 44114, the principal sum of
[                    ] DOLLARS ($[                    ]), or, if lesser, the
aggregate unpaid principal amount of all Revolving Loans evidenced by this Note (as hereinafter
defined) made by the Holder to the Borrower pursuant to Section 2.03 of the Credit Agreement (as
hereinafter defined). The unpaid principal balance outstanding on this Second Amended and Restated
Revolving Loan Note (this “Note”) from time to time and interest thereon shall be determined by the
ledgers and records of the Holder as accurately maintained.

     This Note is one of the Revolving Loan Notes defined and referred to in, and is entitled to
the benefits of, a certain Second Amended and Restated Credit Agreement dated as of January 29,
2010, by and among the Borrower, the Banks named therein, KeyBank National Association, as
Administrative Agent, PNC Bank, National Association, as successor to National City Bank, as
Syndication Agent and Bank of America, N.A., as Documentation Agent (as so amended and restated,
and as it may be further amended, amended and restated or otherwise modified from time to time, the
“Credit Agreement”). A statement of the rights of the Holder and the duties and obligations of the
Borrower in relation thereto is made by reference to the Credit Agreement, but neither this
reference to the Credit Agreement nor any provision thereof shall affect or impair the absolute and
unconditional obligation of the Borrower to pay the principal of and interest on this Note when
due. Capitalized terms used in this Note but not defined herein shall have the respective meanings
ascribed to them in the Credit Agreement.

     [This Note amends, restates and replaces in its entirety the Revolving Loan Note dated as of
                    by the Borrower in favor of the Holder (the “Original Note”) and is not intended
as, and shall not be deemed to be, a repayment, cancellation, refinancing or replacement of the
Indebtedness created by the Original Note, but rather as a consolidation and continuation of such
Indebtedness on the terms set forth in the Credit Agreement.]1

     The principal of this Note shall be due and payable on the Termination Date, or earlier as
provided in the Credit Agreement. The Borrower also promises to pay interest on the unpaid
principal amount of this Note from time to time outstanding from the date of this Note until the

 

			
	1	 	Only include this language for Notes issued
to Banks holding an Original Note.

 

 

payment in full thereof at the rates per annum determined in accordance with the Credit
Agreement. Interest shall be payable on each date provided for in or determined in accordance with
the provisions of the Credit Agreement; provided, that interest on any principal not paid when due
shall be due and payable on demand.

      Interest on this Note shall be calculated on the basis of a 360 day year for the actual number
of days elapsed.

      Reference is hereby made to the Credit Agreement, which contains provisions for the
acceleration of the maturity hereof upon the happening of certain stated events and for voluntary
prepayments hereon. The term “Holder” includes the successors and assigns, if any, of the Holder
named in the first paragraph hereof.

      If this Note shall not be paid at maturity, whether such maturity occurs by reason of lapse of
time or by operation of any provision for acceleration of maturity contained in the Credit
Agreement, the principal hereof and the unpaid interest thereon shall bear interest, until paid, at
a rate(s) equal to the rate(s) otherwise in effect pursuant to the Credit Agreement plus two
percent (2%) per annum. All payments of principal and interest on this Note shall be made in
immediately available funds.

      The Borrower waives demand, presentment for payment, notice of dishonor, protest, notice of
protest, and diligence in collection and bringing suit, and agrees that the Holder may extend the
time for payment, accept partial payment, take security therefor or exchange or release any
collateral, without discharging or releasing the Borrower.

      This Note was executed in Cleveland, Cuyahoga County, Ohio. The construction, validity and
enforceability of this Note shall be governed by and interpreted according to the laws of the State
of Ohio.

      The Borrower authorizes any attorney at law to appear before any court of record, whether
state or Federal, in the county where this Note was executed or where the Borrower resides or may
be found, after the unpaid principal balance of this Note becomes due, either by lapse of time or
by operation of any provision for acceleration of maturity contained in the Credit Agreement, and
waive the issuance and service of process, admit the maturity of this Note, by reason of
acceleration or otherwise, and confess judgment against the Borrower in favor of the Holder of this
Note for the amount then appearing due on this Note, together with interest thereon and costs of
suit, and thereupon to release all errors and waive all rights of appeal and stays of execution.
The Borrower expressly authorizes any attorneys or agents for the Holder to receive compensation
from the Holder for services rendered in exercising the foregoing warrant of attorney and in the
enforcement of any judgment obtained against the Borrower in favor of the Holder on this Note, and
the Borrower expressly waives any conflict of interest to which any attorneys for the Holder may be
subject that may arise in connection with such attorneys exercising any of the rights and/or powers
of the Holder provided for herein or the enforcement of any judgment hereon in favor of the Holder.
The foregoing warrant of attorney shall survive any judgment and may be used from time to time
without exhausting the right to further use the warrant of attorney and, if any judgment be vacated
for any reason, the Holder of this Note

-2-

 

nevertheless may use the foregoing warrant of attorney to obtain an additional judgment or
judgments against the Borrower.

“WARNING — BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT TRIAL. IF YOU DO
NOT PAY ON TIME A COURT JUDGMENT MAY BE TAKEN AGAINST YOU WITHOUT YOUR PRIOR KNOWLEDGE AND THE
POWERS OF A COURT CAN BE USED TO COLLECT FROM YOU REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST
THE CREDITOR WHETHER FOR RETURNED GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE
AGREEMENT, OR ANY OTHER CAUSE.”

	 	 	 	 	 
	 	FOREST CITY RENTAL PROPERTIES CORPORATION

 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

-3-

 

EXHIBIT D-2 

FORM OF SWING LINE NOTE

SECOND AMENDED AND RESTATED SWING LINE NOTE

(Holder)

			
	$                                 
	 	Cleveland, Ohio
	 
	 
	 	 

     FOR VALUE RECEIVED, the undersigned, FOREST CITY RENTAL PROPERTIES CORPORATION, an Ohio
corporation (the “Borrower”), hereby promises to pay to the order of                                         
(the “Holder”), in lawful money of the United States of America at the main office of KeyBank
National Association, Administrative Agent, 127 Public Square, Cleveland, Ohio 44114, the principal
sum of                      DOLLARS ($                    ), or, if lesser, the aggregate unpaid principal
amount of all Swing Loans evidenced by this Second Amended and Restated Swing Line Note (this
“Note”) made by the Holder to the Borrower pursuant to Section 2.07 of the Credit Agreement (as
hereinafter defined). The unpaid principal balance outstanding on this Note from time to time and
interest thereon shall be determined by the ledgers and records of the Holder as accurately
maintained.

     This Note is one of the Swing Line Notes defined and referred to in, and is entitled to the
benefits of, a certain Second Amended and Restated Credit Agreement dated as of January 29, 2010,
by and among the Borrower, the Banks named therein, KeyBank National Association, as Administrative
Agent, PNC Bank, National Association, as successor to National City Bank, as Syndication Agent and
Bank of America, N.A., as Documentation Agent (as so amended and restated, and as it may be further
amended, amended and restated or otherwise modified from time to time, the “Credit Agreement”). A
statement of the rights of the Holder and the duties and obligations of the Borrower in relation
thereto is made by reference to the Credit Agreement, but neither this reference to the Credit
Agreement nor any provision thereof shall affect or impair the absolute and unconditional
obligation of the Borrower to pay the principal of and interest on this Note when due. Capitalized
terms used in this Note but not defined herein shall have the respective meanings ascribed to them
in the Credit Agreement.

     This Note amends, restates and replaces in its entirety the Swing Line Note dated as of June
6, 2007, by the Borrower in favor of the Holder (the “Original Note”) and is not intended as, and
shall not be deemed to be, a repayment, cancellation, refinancing or replacement of the
Indebtedness created by the Original Note, but rather as a consolidation and continuation of such
Indebtedness on the terms set forth in the Credit Agreement.

     The principal of this Note shall be due and payable on the earlier of the Swing Loan Maturity
Date applicable thereto and the Termination Date. The Borrower also promises to pay interest on
the unpaid principal amount of this Note from time to time outstanding from the date of this Note
until the payment in full thereof at the rates per annum determined in accordance with Section 2.07
of the Credit Agreement. Interest shall be payable on each date provided for in or determined in
accordance with the provisions of the Credit Agreement; provided, that interest on any principal
not paid when due shall be due and payable on demand.

 

 

     Interest on this Note shall be calculated on the basis of a 360 day year for the actual number
of days elapsed.

     Reference is hereby made to the Credit Agreement, which contains provisions for the
acceleration of the maturity hereof upon the happening of certain stated events and for voluntary
prepayments hereon. The term “Holder” includes the successors and assigns, if any, of the Holder
named in the first paragraph hereof.

     If this Note shall not be paid at maturity, whether such maturity occurs by reason of lapse of
time or by operation of any provision for acceleration of maturity contained in the Credit
Agreement, the principal hereof and the unpaid interest thereon shall bear interest, until paid, at
a rate(s) equal to the rate(s) otherwise in effect pursuant to the Credit Agreement plus two
percent (2%) per annum. All payments of principal and interest on this Note shall be made in
immediately available funds.

     The Borrower waives demand, presentment for payment, notice of dishonor, protest, notice of
protest, and diligence in collection and bringing suit, and agrees that the Holder may extend the
time for payment, accept partial payment, take security therefor or exchange or release any
collateral, without discharging or releasing the Borrower.

     This Note was executed in Cleveland, Cuyahoga County, Ohio. The construction, validity and
enforceability of this Note shall be governed by and interpreted according to the laws of the State
of Ohio.

     The Borrower authorizes any attorney at law to appear before any court of record, whether
state or Federal, in the county where this Note was executed or where the Borrower resides or may
be found, after the unpaid principal balance of this Note becomes due, either by lapse of time or
by operation of any provision for acceleration of maturity contained in the Credit Agreement, and
waive the issuance and service of process, admit the maturity of this Note, by reason of
acceleration or otherwise, and confess judgment against the Borrower in favor of the Holder of this
Note for the amount then appearing due on this Note, together with interest thereon and costs of
suit, and thereupon to release all errors and waive all rights of appeal and stays of execution.
The Borrower expressly authorizes any attorneys or agents for the Holder to receive compensation
from the Holder for services rendered in exercising the foregoing warrant of attorney and in the
enforcement of any judgment obtained against the Borrower in favor of the Holder on this Note, and
the Borrower expressly waives any conflict of interest to which any attorneys for the Holder may be
subject that may arise in connection with such attorneys exercising any of the rights and/or powers
of the Holder provided for herein or the enforcement of any judgment hereon in favor of the Holder.
The foregoing warrant of attorney shall survive any judgment and may be used from time to time
without exhausting the right to further use the warrant of attorney and, if any judgment be vacated
for any reason, the Holder of this Note nevertheless may use the foregoing warrant of attorney to
obtain an additional judgment or judgments against the Borrower.

-2-

 

“WARNING — BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT TRIAL. IF YOU DO
NOT PAY ON TIME A COURT JUDGMENT MAY BE TAKEN AGAINST YOU WITHOUT YOUR PRIOR KNOWLEDGE AND THE
POWERS OF A COURT CAN BE USED TO COLLECT FROM YOU REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE
CREDITOR WHETHER FOR RETURNED GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE
AGREEMENT OR ANY OTHER CAUSE.”

	 	 	 	 	 
	 	FOREST CITY RENTAL PROPERTIES CORPORATION

 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

-3-

 

	 	 	 	 	 

EXHIBIT E

FORM OF LETTER OF CREDIT REQUEST

No.                    2 Dated                    3

KeyBank National Association, as Administrative Agent
under the Second Amended and Restated Credit Agreement (as so amended and restated, and as it may
be further amended, amended and restated or otherwise modified from time to time, the “Credit
Agreement”), dated as of January 29, 2010, by and among Forest City Rental Properties Corporation,
the Banks from time to time party thereto, KeyBank National Association, as Administrative Agent,
PNC Bank, National Association, as Syndication Agent and Bank of America, N.A., as Documentation
Agent

127 Public Square

Cleveland, Ohio 44114

Attention:                                         

Dear Sirs:

We hereby request that [KeyBank National Association]4, in its capacity as Issuing Bank,
issue a Letter of Credit for the account of the undersigned on                      5(the
“Date of Issuance”) in the aggregate stated amount of                     6. The requested
Letter of Credit shall be denominated in U.S dollars.

For purposes of this Letter of Credit Request, unless otherwise defined herein, all capitalized
terms used herein shall have the respective meanings provided in the Credit Agreement.

The beneficiary of the requested Letter of Credit will be                     7,
and such Letter of Credit will be in support of                    8 and will
have a stated expiration date of                     9.

 

			
	2	 	Letter of Credit Request Number.
	 
	3	 	Date of Letter of Credit Request.
	 
	4	 	Insert other name of Issuing Bank, if not
KeyBank National Association.
	 
	5	 	Date of Issuance which shall be at least
five Cleveland Banking Days after the date of this Letter of Credit Request (or
such shorter period as is acceptable to KeyBank National Association).

	 
	6	 	Aggregate initial stated amount of Letter of
Credit.
	 
	7	 	Insert name and address of beneficiary.
	 
	8	 	 Insert description of the Indebtedness and
describe obligation to which it relates or a description of the commercial
transaction which is being supported, as applicable.

 

 

We hereby certify, represent and warrant to you that:

     (1) the representations and warranties contained in the Credit Agreement and the
Related Writings will be true and correct in all material respects on the Date of Issuance,
both before and after giving effect to the issuance of the Letter of Credit requested hereby
(it being understood and agreed that any representation or warranty which by its terms is
made as of a specified date shall be required to be true and correct in all material
respects only as of such specified date);

     (2) no Possible Default or Event of Default has occurred and is continuing nor, after
giving effect to the issuance of the Letter of Credit requested hereby, would such a
Possible Default or an Event of Default occur; and

     (3) the aggregate principal amount of all outstanding Surety Bonds as of the Date of
Issuance is $                    .

Copies of all relevant documentation with respect to the supported transaction, as required by the
Credit Agreement, are attached hereto.

	 	 	 	 	 
	 	FOREST CITY RENTAL PROPERTIES CORPORATION

 	 
	 
	 	By:  	 	 
	 	 	Title:  	 	 
	 

 

			
	9	 	Insert last date upon which drafts may be
presented which may not be later than the Termination Date.

-2-

 

EXHIBIT F

FORM OF NOTICE OF BORROWING

                     ___, 20___

KeyBank National Association, as Administrative Agent under the

Credit Agreement (referred to below)

127 Public Square

Cleveland, Ohio 44114

Attention:

Ladies and Gentlemen:

The undersigned, Forest City Rental Properties Corporation (the “Borrower”), hereby gives you
notice, irrevocably, pursuant to Section 5.01 of the Second Amended and Restated Credit Agreement,
dated as of January 29, 2010 (as so amended and restated, and as it may be further amended, amended
and restated or otherwise modified from time to time, the “Credit Agreement”; the terms defined
therein being used herein as so defined), among the Borrower, various Banks from time to time party
thereto, PNC Bank, National Association, as successor to National City Bank, as Syndication Agent,
Bank of America, N.A., as Documentation Agent and you, as Administrative Agent for such Banks, that
the undersigned requests a Loan under the Credit Agreement and for that purpose sets forth below
the information relating to such Loan (the “Proposed Loan”):

     (i) The proposed borrowing is to be a [Revolving Loan] [Swing Loan].

     (ii) The aggregate principal amount of the Proposed Loan is $                                        .

     (iii) The Cleveland Banking Day of the Proposed Loan is
                                        .1

     (iv) The Proposed Loan, if a Revolving Loan, shall be initially maintained subject to
the [Base Rate Option] [the LIBOR Rate Option].

     (v) The initial Interest Period for the Proposed Loan (if subject to the LIBOR Rate
Option) is                      month(s).

     (vi) [The Proposed Loan is requested as a borrowing under the Reserved Commitment and
the proceeds of such Proposed Loan shall be applied as required by Section 2.02(b) of the
Credit Agreement.]

 

			
	1	 	Shall be a Cleveland Banking Day at least one Cleveland Banking Day in the case of Loans subject to the Base Rate Option and three
Cleveland Banking Days in the case of Loans subject to the LIBOR Rate Option, in each case, after the date hereof and may be the same
day as the date hereof if a Swing Loan.

 

 

The undersigned hereby certifies that the following statements are true and correct on the date
hereof, and will be true and correct on the date of the Proposed Loan:

     (A) the representations and warranties contained in the Credit Agreement and the
Related Writings are and will be true and correct in all material respects, both before and
after giving effect to the Proposed Loan and to the application of the proceeds thereof, as
though made on such date (it being understood and agreed that any representation or warranty
which by its terms is made as of a specified date shall be required to be true and correct
in all material respects only as of such specified date); and

     (B) no Possible Default or Event of Default has occurred and is continuing, or would
result from such Proposed Loan or from the application of the proceeds thereof.

	 	 	 	 	 
	 	FOREST CITY RENTAL PROPERTIES CORPORATION

 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

-2-

 

	 	 	 	 	 

EXHIBIT G

FORM OF ASSIGNMENT AND ASSUMPTION AGREEMENT

     This Assignment and Assumption Agreement (this “Assignment Agreement”) between
                                         (the “Assignor”) and                                     
    (the “Assignee”) is dated as of
                                                            .

W I T N E S S E T H:

     WHEREAS, the Assignor is a party to a certain Second Amended and Restated Credit Agreement,
dated as of January 29, 2010, by and among Forest City Rental Properties Corporation, an Ohio
corporation (the “Borrower”), the Banks named therein, KeyBank National Association, as
Administrative Agent (hereinafter referred to as the “Agent”), PNC Bank, National Association, as
successor to National City Bank, as Syndication Agent and Bank of America, N.A., as Documentation
Agent (as so amended and restated, and as it may be further amended, amended and restated or
otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used herein and
not otherwise defined herein shall have the meanings attributed to them in the Credit Agreement;
and

     WHEREAS, the Assignor is willing to sell and assign to the Assignee, and the Assignee is
willing to purchase and assume from the Assignor, all or a portion of the Assignor’s Loans and/or
Commitments under the Credit Agreement;

     NOW, THEREFORE, it is mutually agreed as follows:

     1. The Assignor hereby sells and assigns (without recourse) to the Assignee, and the Assignee
hereby purchases and assumes from the Assignor, as of the date hereof, all or a portion of the
Assignor’s Revolving Loans, which amount shall not be less than Ten Million Dollars ($10,000,000)
to the extent that the Assignee is not an Affiliate of the Assignor, and the pro-rata share of the
Assignor’s Commitment as each specified on Schedule 1 attached hereto and the Assignor’s
corresponding rights and obligations under the Credit Agreement. After giving effect to such sale
and assignment, the Assignee’s Commitment and the amount of the Revolving Loans owing to the
Assignee will be as set forth in Item 2(C) and Item 2(F) of Schedule 1 respectively.

     2. The effective date of this Assignment Agreement (the “Effective Date”) shall be the date
specified in Item 3 of Schedule 1. In no event will the Effective Date occur if the assignment
fees required to be paid to the Agent under Section 3 hereof are not paid on or prior to
the proposed Effective Date, unless otherwise agreed to in writing by the Agent. The Assignor will
(i) no later than three (3) Cleveland Banking Days prior to the proposed Effective Date, notify the
Agent of the proposed Effective Date; (ii) if the Assignor and the Assignee are not affiliated
entities, obtain consents of this assignment from the Agent and the Borrower, if required, prior to
the proposed Effective Date, which consent shall not be unreasonably withheld or delayed, and (iii)
to the extent any letters of credit are outstanding, obtain consents of this assignment from the
Agent prior to the proposed Effective Date, which consent shall not be unreasonably withheld or
delayed. Upon such acceptance and recording by the Agent, as of the Effective Date, (i) the
Assignee shall be a party to the Credit Agreement and, to the extent

 

 

provided in this Assignment Agreement, have the same rights and obligations thereunder as it would if it were the Assignor; and
(ii) the Assignor shall relinquish its rights and be released from its corresponding obligations
under the Credit Agreement with respect to the rights and obligations assigned to the Assignee
hereunder.

     3. The Agent shall be paid a nonrefundable assignment fee by [the Assignor] [the Assignee]
[the Borrower1] in the amount of $3,500 on or prior to the Effective Date. On and
after the Effective Date, the Assignee shall be entitled to receive from the Agent all payments of
principal, interest and fees with respect to the interest
assigned hereby. In consideration for the sale and assignment of Loans hereunder, the
Assignee shall pay the Assignor, on or prior to the Effective Date, an amount equal to
$                    . The Assignee will promptly remit to the Assignor (i) the portion of any principal
payments assigned hereunder and received from the Agent with respect to any such Loan prior to the
Effective Date and (ii) any amounts of interest on Loans and fees received from the Agent which
relate to the portion of the Loans assigned to the Assignee hereunder for periods prior to the
Effective Date and not previously paid by the Assignee to the Assignor. In the event that either
party hereto receives any payment to which the other party hereto is entitled under this Assignment
Agreement, then the party receiving such amount shall promptly remit it to the other party hereto.

     4. Upon such acceptance and recording by the Agent, from and after the Effective Date, the
Agent shall make all payments under the Credit Agreement and the Revolving Loan Notes in respect of
the interest assigned hereby (including, without limitation, all payments of principal, interest
and commitment fees with respect thereto) to the Assignee. The Assignor and Assignee shall make
all appropriate adjustments in payments under the Credit Agreement and the Revolving Loan Notes for
periods prior to the Effective Date directly between themselves.

     5. If any reduction in the Revolving Loans occurs between the date of this Assignment
Agreement and the Effective Date, the percentage interest specified in Item 2(B) of Schedule 1
shall remain the same, but the dollar amount purchased shall be recalculated based on the reduced
Revolving Loan amount.

     6. The Assignor (i) represents and warrants that (A) it is the legal and beneficial owner of
the interest being assigned by it hereunder, (B) such interest is free and clear of any adverse
claim, and (C) no Possible Default or Event of Default exists; (ii) makes no representation or
warranty and assumes no responsibility with respect to any statements, warranties or
representations made in or in connection with the Credit Agreement or the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Credit Agreement or any other
instrument or document furnished pursuant thereto or any collateral security; (iii) makes no
representation or warranty and assumes no responsibility with respect to the financial condition or
the creditworthiness of the Borrower or the Parent or the performance or observance by the Borrower
or the Parent of any of its obligations under the Credit Agreement or any other instrument or
document furnished pursuant thereto; and (iv) attaches the Revolving Loan Note or Revolving Loan
Notes held by the Assignor and requests that the Agent exchange

 

			
	1	 	Insert “the Borrower” in lieu of Assignor or
Assignee to the extent the Borrower is required to pay the assignment fee
pursuant to Section 13.08(b) of the Credit Agreement.

-2-

 

such Revolving Loan Note or Revolving Loan Notes for a new Revolving Loan Note or Revolving Loan Notes payable to the order of
the Assignee in an amount equal to the Commitment assumed by the Assignee pursuant hereto and the
Assignor in an amount equal to the Commitment retained by the Assignor under the Credit Agreement,
respectively, as specified on Schedule 1. It is understood and agreed that the assignment and
assumption hereunder are made without recourse to the Assignor and that the Assignor makes no other
representation or warranty of any kind to the Assignee.

     7. The Assignee (i) represents and warrants that it is a commercial bank, financial
institution, mutual fund or institutional “accredited investor” (as defined in Regulation D of the
Securities Act of 1933, as amended); (ii) confirms that it has received a copy of the Credit
Agreement and each of the other Related Writings, together with copies of the financial statements
requested by the Assignee and such other documents and information as it has deemed appropriate to
make its own credit analysis and decision to enter into this Assignment Agreement; (iii) agrees
that it will, independently and without reliance upon any Agent, the Assignor or any other Bank and
based on such documents and information as it shall deem appropriate at the time, continue to make
its own credit decisions in taking or not taking action under the Credit Agreement; (iv) appoints
and authorizes the Agent to take such action as agent on its behalf and to exercise such powers and
discretion under the Credit Agreement as arc delegated to the Agent by the terms thereof, together
with such powers and discretion as are reasonably incidental thereto; (v) agrees that it will
perform in accordance with their terms of all of the obligations that by the terms of the Credit
Agreement are required to be performed by it as a Bank; (vi) if the Assignee is organized under the
laws of a jurisdiction outside the United States, attaches the forms prescribed by the Internal
Revenue Service of the United States certifying as to the Assignee’s status for purposes of
determining exemption from United States withholding taxes with respect to all payments to be made
to the Assignee under the Credit Agreement and the Revolving Loan Notes or such other documents as
are necessary to indicate that all such payments are subject to such taxes at a rate reduced by an
applicable tax treaty; and (vii) represents and warrants that either (y) each source of funds to be
used by the Assignee for the purchase of the Assignor’s Loans and/or Commitments under the Credit
Agreement (or any interest therein) is not an “employee benefit plan” as defined in Section 3(3) of
the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), a “plan” as defined in
Section 4975(e)(1) of the Code, a governmental plan, an
insurance company pooled separate account, nor an entity the assets of which are deemed to be
assets of any such “employee benefit plan” or “plan” under Section 3(42) of ERISA, or (z) the
execution and delivery of this Assignment Agreement and each transaction entered into hereunder are
and will be exempt from the prohibited transaction provisions of ERISA and the excise tax of
Section 4975 of the Code pursuant to Section 408(b)(17) of ERISA and Section 4975(d)(20) of the
Code or under another applicable individual, class, or statutory exemption.

     8. The Assignor and the Assignee agree to indemnify and hold the Agent harmless against any
and all losses, costs and expenses (including, without limitation, reasonable attorneys’ fees) and
liabilities incurred by the Agent in connection with or arising in any manner from this assignment.

     9. After the Effective Date, the Assignee shall have the right pursuant to Section 13.08 of
the Credit Agreement to assign the rights which are assigned to the Assignee

-3-

 

hereunder to any
qualified entity as provided in Section 13.08 of the Credit Agreement, provided that (i) any such
subsequent assignment does not violate any of the terms and conditions of the Credit Agreement or
Related Writings or any law, rule, regulation, order, writ, judgment, injunction or decree and that
any consent required under the terms of the Credit Agreement or Related Writings has been obtained
and (ii) unless the prior written consent of the Assignor is obtained, the Assignee is not thereby
released from its obligations to the Assignor hereunder.

     10. Each party to this Assignment Agreement agrees to pay its own fees and expenses incurred
by it in connection with the negotiation, preparation and execution of this Assignment Agreement.

     11. This Assignment Agreement and any amendments, waivers, consents or supplements may be
executed in counterparts, each of which when so executed and delivered shall be deemed an original,
but all of which together shall constitute but one and the same instrument.

     12. This Assignment Agreement together with attached Schedule 1 embody the entire agreement
and understanding between the parties hereto and supersede all prior agreements and understandings
between the parties hereto relating to the subject matter hereof.

     13. This Assignment Agreement shall be governed by the internal law, and not the law of
conflicts, of the State of Ohio.

     14. Notices shall be given under this Assignment Agreement in the manner set forth in the
Credit Agreement. For the purpose hereof, the addresses of the parties hereto (until notice of a
change is delivered) shall be the address set forth in the Credit Agreement or the attached
Schedule 1, if a different address is therein provided.

     IN WITNESS WHEREOF, the parties hereto have executed this Assignment Agreement by their duly
authorized officers as of the date first above written.

	 	 	 	 	 
	 	
(Assignor Bank)

 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	(Assignee Bank)

 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

-4-

 

	 	 	 	 	 

SCHEDULE 1

to Assignment and Assumption Agreement

	 	 	 	 	 	 	 
	1.	 	Date of Assignment and Assumption Agreement:	 	 
	 
	 	 	 	 	 	 
	2.	 	Amounts (as of the date of Item 1 above unless indicated otherwise):	 	 
	 
	 	 	 	 	 	 
	 
	 	A.	 	Assignor’s Commitment	 	$
	 
	 	 	 	 	 	 
	 
	 	B.	 	Percentage of Assignor’s Commitment assigned	 	%
	 
	 	 	 	 	 	 
	 
	 	C.	 	Amount of Assignor’s Commitment Assigned to Assignee (A * B)	 	$
	 
	 	 	 	 	 	 
	 
	 	D.	 	Amount of Assignor’s Commitment retained after Effective Date  (A-C)	 	$
	 
	 	 	 	 	 	 
	 
	 	E.	 	Assignor’s aggregate outstanding principal amount of Revolving	 	 
	 
	 	 	 	Loans	 	$
	 
	 	 	 	 	 	 
	 
	 	F.	 	Aggregate outstanding principal amount of Revolving Loans	 	 
	 
	 	 	 	assigned to Assignee (E * B)	 	$
	 
	 	 	 	 	 	 
	 
	 	G.	 	Assignor’s aggregate principal amount of Revolving Loans Retained	 	 
	 
	 	 	 	after Effective Date (E-F)	 	$
	 
	 	 	 	 	 	 
	 
	 	H.	 	Aggregate outstanding amount of accrued interest and fees assigned	 	$
	 
	 	 	 	 	 	 
	3.	 	Effective Date:	 	 
	 
	 	 	 	 	 	 
	4.	 	Address of Assignee:	 	 

-5-

 

Schedule 2.03

Authorized Fiscal Officers

	 	 	 
	Name	 	Title
	Albert B. Ratner
	 	Vice President and Assistant Secretary
	 
	 	 
	Charles B. Ratner
	 	Chairman of the Board
	 
	 	 
	Samuel H. Miller
	 	Vice President and Treasurer
	 
	 	 
	Geralyn M. Presti
	 	Vice President and Secretary
	 
	 	 
	Robert G. O’Brien
	 	Executive Vice President
	 
	 	 
	Thomas Kmieck
	 	Authorized Agent

 

 

Schedule 7.14

None

 

 

Schedule 9.00

Exceptions to Representations and Warranties

None

 

 

Schedule 9.18

Organizational Structure

FCRPC Active Subs

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	% Interest Directly	 	 	 	 	 	 	 	 	 	 	 
	 	Subsidiary	 	 	Held by FCRPC	 	 	Date Acquired	 	 	 	Jurisdiction Code	 	 	Entity Type	 
	 	Artus Inc.
	 	 	100	 	 	 	2/2/1981	 	 	 	OH              	 	 	Corporation	 
	 	Ballston Common Associates, L.P.
	 	 	50	 	 	 	4/30/1994	 	 	 	DE              	 	 	Limited Partnership	 
	 	Ballston Development Corporation
	 	 	100	 	 	 	3/28/1984	 	 	 	OH              	 	 	Corporation	 
	 	Boulevard Mall Expansion, L.L.C.
	 	 	50	 	 	 	9/11/1997	 	 	 	NY              	 	 	Limited Liability Company	 
	 	Boulevard Mall SPE, LLC
	 	 	49.5	 	 	 	9/13/2006	 	 	 	DE              	 	 	Limited Liability Company	 
	 	Boulevard Mall, L.L.C.
	 	 	49.5	 	 	 	11/20/1997	 	 	 	NY              	 	 	Limited Liability Company	 
	 	Boulevard Towers LLC
	 	 	1	 	 	 	12/15/1998	 	 	 	NY              	 	 	Limited Liability Company	 
	 	Brookpark Land Investment, Inc.
	 	 	100	 	 	 	11/22/1995	 	 	 	OH              	 	 	Corporation	 
	 	Camelot Apartments, LLC
	 	 	50	 	 	 	3/26/2001	 	 	 	OH              	 	 	Limited Liability Company	 
	 	Canton Centre Mall Limited Partnership
	 	 	89	 	 	 	12/20/2000	 	 	 	OH              	 	 	Limited Partnership	 
	 	Center Courtland, Inc.
	 	 	100	 	 	 	8/2/1988	 	 	 	OH              	 	 	Corporation	 
	 	Chagrin Office Building, L.L.C.
	 	 	66.6667	 	 	 	10/13/1998	 	 	 	OH              	 	 	Limited Liability Company	 
	 	Chapel Hill Apartments, Ltd.
	 	 	100	 	 	 	6/11/2007	 	 	 	OH              	 	 	Limited Liability Company	 
	 	Chapel Hill Mall, Ltd.
	 	 	80	 	 	 	6/15/2007	 	 	 	OH              	 	 	Limited Liability Company	 
	 	Chestnut Lake Apartments Limited Partnership
	 	 	49	 	 	 	3/1/1994	 	 	 	OH              	 	 	Limited Partnership	 
	 	Clarkwood Apartments Ltd.
	 	 	50	 	 	 	1/4/1996	 	 	 	OH              	 	 	Limited Liability Company	 
	 	F. C. Billboard, Inc.
	 	 	100	 	 	 	3/24/1995	 	 	 	PA              	 	 	Corporation	 
	 	F. C. Canton Centre, Inc.
	 	 	100	 	 	 	3/3/1994	 	 	 	OH              	 	 	Corporation	 
	 	F. C. Fairmont, L.L.C.
	 	 	85	 	 	 	2/1/2002	 	 	 	OH              	 	 	Limited Liability Company	 
	 	F. C. Laurels Limited Partnership
	 	 	99	 	 	 	9/26/1995	 	 	 	IL              	 	 	Limited Partnership	 
	 	F. C. Liberty, Inc.
	 	 	100	 	 	 	4/25/1995	 	 	 	PA              	 	 	Corporation	 
	 	F. C. Regency Club Limited Partnership
	 	 	99	 	 	 	3/24/1994	 	 	 	NJ 	 	 	Limited Partnership	 
	 	F. C. Rolling Acres, Inc.
	 	 	100	 	 	 	3/3/1994	 	 	 	OH              	 	 	Corporation	 
	 	F. C. Southridge Corp.
	 	 	100	 	 	 	9/11/1986	 	 	 	OH              	 	 	Corporation	 
	 	F.C. Fireland, Inc.
	 	 	100	 	 	 	9/3/1985	 	 	 	OH              	 	 	Corporation	 
	 	F.C. Member, Inc.
	 	 	100	 	 	 	1/17/1997	 	 	 	NY              	 	 	Corporation	 
	 	F.C. Short Pump Land Investment, Inc.
	 	 	100	 	 	 	6/27/1996	 	 	 	VA             	 	 	Corporation	 
	 	F.C. Stonecrest Land Investment, Inc.
	 	 	100	 	 	 	5/15/1997	 	 	 	GA              	 	 	Corporation	 
	 	F.C. Stonecrest Mall, Inc.
	 	 	100	 	 	 	5/15/1997	 	 	 	GA              	 	 	Corporation	 
	 	F.C. Temecula, Inc.
	 	 	100	 	 	 	7/21/1997	 	 	 	CA              	 	 	Corporation	 
	 	F.C. Webster, LLC
	 	 	100	 	 	 	7/18/2001	 	 	 	OH              	 	 	Limited Liability Company	 
	 	F.C. Westland, LLC
	 	 	100	 	 	 	7/18/2001	 	 	 	OH              	 	 	Limited Liability Company	 
	 	F.C. Whiteacres LLC
	 	 	2	 	 	 	7/13/2005	 	 	 	OH              	 	 	Limited Liability Company	 
	 

 

 

Schedule 9.18

Organizational Structure

FCRPC Active Subs

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	% Interest Directly	 	 	 	 	 	 	 	 	 	 	 
	 	Subsidiary	 	 	Held by FCRPC	 	 	Date Acquired	 	 	 	Jurisdiction Code	 	 	Entity Type	 
	 	FC 45/75 Sidney, Inc.
	 	 	100	 	 	 	6/20/1997	 	 	 	MA	 	 	Corporation	 
	 	FC 8 South, Inc.
	 	 	100	 	 	 	6/12/2001	 	 	 	NY	 	 	Corporation	 
	 	FC 816-818 Mission Street, LLC
	 	 	100	 	 	 	7/28/2008	 	 	 	DE	 	 	Limited Liability Company	 
	 	FC Bellevue Associates Limited Partnership
	 	 	99	 	 	 	2/24/1997	 	 	 	WA	 	 	Limited Partnership	 
	 	FC Emerald Park, Inc.
	 	 	100	 	 	 	7/9/1997	 	 	 	OH	 	 	Corporation	 
	 	FC LH, Inc.
	 	 	100	 	 	 	2/6/1996	 	 	 	OH	 	 	Corporation	 
	 	FC Manhattan, Inc.
	 	 	100	 	 	 	11/15/2001	 	 	 	KS	 	 	Corporation	 
	 	FC Master Associates III, Inc.
	 	 	100	 	 	 	7/25/2006	 	 	 	NY	 	 	Corporation	 
	 	FC Northern Boulevard, Inc.
	 	 	100	 	 	 	4/29/1996	 	 	 	NY	 	 	Corporation	 
	 	FC Pacific, Inc.
	 	 	100	 	 	 	12/26/1995	 	 	 	NY	 	 	Corporation	 
	 	FC Pittsburgh, Inc. (fka Harrah’s Pittsburgh
Investment Company, Inc.)
	 	 	100	 	 	 	11/13/1997	 	 	 	NV	 	 	Corporation	 
	 	FC University Park II, Inc.
	 	 	100	 	 	 	10/17/1996	 	 	 	MA	 	 	Corporation	 
	 	FC/ACACIA, Inc.
	 	 	50	 	 	 	3/31/1998	 	 	 	OH	 	 	Corporation	 
	 	FC/Niasher, Inc.
	 	 	50	 	 	 	12/4/1997	 	 	 	NY	 	 	Corporation	 
	 	FCRPC/Niasher, Inc.
	 	 	50	 	 	 	11/20/2006	 	 	 	NY	 	 	Corporation	 
	 	First Forest City Brookline Street, Inc.
	 	 	100	 	 	 	12/31/1991	 	 	 	MA	 	 	Corporation	 
	 	First New York Management Company, Inc.
	 	 	100	 	 	 	10/20/1987	 	 	 	NY	 	 	Corporation	 
	 	Forest Bay, Inc.
	 	 	100	 	 	 	6/7/1978	 	 	 	OH	 	 	Corporation	 
	 	Forest City 42nd Street, Inc.
	 	 	100	 	 	 	9/8/1995	 	 	 	NY	 	 	Corporation	 
	 	Forest City 64 Sidney Street, Inc.
	 	 	100	 	 	 	12/1/1988	 	 	 	OH	 	 	Corporation	 
	 	Forest City American European Company, Ltd.
	 	 	50	 	 	 	1/6/1997	 	 	 	OH	 	 	Limited Liability Company	 
	 	Forest City Antelope Valley, Inc.
	 	 	100	 	 	 	12/11/1987	 	 	 	OH	 	 	Corporation	 
	 	Forest City B.U.G. Building, Inc.
	 	 	100	 	 	 	11/24/1986	 	 	 	NY	 	 	Corporation	 
	 	Forest City Bluffside Corporation
	 	 	100	 	 	 	3/8/1985	 	 	 	OH	 	 	Corporation	 
	 	Forest City Bruckner, Inc.
	 	 	100	 	 	 	6/20/1995	 	 	 	NY	 	 	Corporation	 
	 	Forest City California Commercial Construction, Inc.
	 	 	100	 	 	 	2/18/1988	 	 	 	CA	 	 	Corporation	 
	 	Forest City California Leasing, Inc.
	 	 	100	 	 	 	10/22/1992	 	 	 	CA	 	 	Corporation	 
	 	Forest City Cambridge, Inc.
	 	 	100	 	 	 	3/5/1984	 	 	 	OH	 	 	Corporation	 
	 	Forest City Central Station, Inc.
	 	 	100	 	 	 	6/12/1989	 	 	 	OH	 	 	Corporation	 
	 	Forest City Commercial Construction Co., Inc.
	 	 	100	 	 	 	2/23/1987	 	 	 	OH	 	 	Corporation	 
	 	Forest City Commercial Group, Inc.
	 	 	100	 	 	 	10/30/1997	 	 	 	OH	 	 	Corporation	 
	 	Forest City Commercial Holdings, Inc.
	 	 	100	 	 	 	3/24/1995	 	 	 	NY	 	 	Corporation	 
	 	Forest City Commercial Management, Inc.
	 	 	100	 	 	 	2/1/1985	 	 	 	OH	 	 	Corporation	 
	 

 

 

Schedule 9.18

Organizational Structure

FCRPC Active Subs

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	% Interest Directly	 	 	 	 	 	 	 	 	 	 	 
	 	Subsidiary	 	 	Held by FCRPC	 	 	Date Acquired	 	 	 	Jurisdiction Code	 	 	Entity Type	 
	 	Forest City Development California, Inc.
	 	 	100	 	 	 	6/4/1986	 	 	 	CA              	 	 	Corporation	 
	 	Forest City East Coast, Inc.
	 	 	100	 	 	 	5/8/1989	 	 	 	NY              	 	 	Corporation	 
	 	Forest City Ely, Inc.
	 	 	100	 	 	 	3/11/1996	 	 	 	NY              	 	 	Corporation	 
	 	Forest City Felix, Inc.
	 	 	100	 	 	 	12/17/1996	 	 	 	NY              	 	 	Corporation	 
	 	Forest City Finance Corporation
	 	 	100	 	 	 	6/2/1988	 	 	 	OH             	 	 	Corporation	 
	 	Forest City Flatbush, Inc.
	 	 	100	 	 	 	3/25/1996	 	 	 	NY              	 	 	Corporation	 
	 	Forest City Fulton Street Building, Inc.
	 	 	100	 	 	 	3/14/1989	 	 	 	NY              	 	 	Corporation	 
	 	Forest City Galaxy, Inc.
	 	 	100	 	 	 	3/7/1994	 	 	 	NV              	 	 	Corporation	 
	 	Forest City Grand Avenue, Inc.
	 	 	100	 	 	 	6/26/1996	 	 	 	NY              	 	 	Corporation	 
	 	Forest City Grant Liberty Associates
	 	 	99	 	 	 	12/15/1983	 	 	 	PA              	 	 	Limited Partnership	 
	 	Forest City International Plaza Corp.
	 	 	100	 	 	 	9/2/1981	 	 	 	OH              	 	 	Corporation	 
	 	Forest City Mercy Campus, Inc.
	 	 	100	 	 	 	6/21/2005	 	 	 	OH              	 	 	Corporation	 
	 	Forest City Metrotech Corp.
	 	 	100	 	 	 	9/30/1985	 	 	 	OH              	 	 	Corporation	 
	 	Forest City N. Y., Inc.
	 	 	100	 	 	 	3/9/1989	 	 	 	NY              	 	 	Corporation	 
	 	Forest City N.Y. Group, Inc.
	 	 	100	 	 	 	7/22/1998	 	 	 	NY              	 	 	Corporation	 
	 	Forest City Park Manor, Inc.
	 	 	100	 	 	 	11/18/1987	 	 	 	OH              	 	 	Corporation	 
	 	Forest City Peripheral Land, Inc.
	 	 	100	 	 	 	8/24/1989	 	 	 	DE              	 	 	Corporation	 
	 	Forest City Pierrepont, Inc.
	 	 	100	 	 	 	6/25/1985	 	 	 	NY              	 	 	Corporation	 
	 	Forest City Pittsburgh Land, Inc.
	 	 	100	 	 	 	8/24/1989	 	 	 	DE              	 	 	Corporation	 
	 	Forest City Residential Group, Inc.
	 	 	100	 	 	 	3/5/1997	 	 	 	OH              	 	 	Corporation	 
	 	Forest City Richmond, Inc.
	 	 	100	 	 	 	5/7/1996	 	 	 	NY              	 	 	Corporation	 
	 	Forest City Robinson Mall, Inc.
	 	 	100	 	 	 	8/24/1989	 	 	 	DE              	 	 	Corporation	 
	 	Forest City S.I.A.C. Building, Inc.
	 	 	100	 	 	 	11/24/1986	 	 	 	NY              	 	 	Corporation	 
	 	Forest City San Vicente Corp.
	 	 	100	 	 	 	6/5/1979	 	 	 	OH              	 	 	Corporation	 
	 	Forest City Sound View Associates
	 	 	99	 	 	 	1/16/1979	 	 	 	CT              	 	 	Limited Partnership	 
	 	Forest City Station Square, Inc.
	 	 	100	 	 	 	5/19/1994	 	 	 	PA              	 	 	Corporation	 
	 	Forest City Tech Place, Inc.
	 	 	100	 	 	 	3/1/1993	 	 	 	NY              	 	 	Corporation	 
	 	Forest City Tilden, Inc.
	 	 	100	 	 	 	7/7/1993	 	 	 	NY              	 	 	Corporation	 
	 	Forest City Waring, Inc.
	 	 	100	 	 	 	3/7/1996	 	 	 	NY              	 	 	Corporation	 
	 	Forest City Washington, Inc.
	 	 	100	 	 	 	6/13/2002	 	 	 	DC              	 	 	Corporation	 
	 	Forest City Sustainable Resources, LLC
	 	 	100	 	 	 	11/10/2009	 	 	 	OH              	 	 	Limited Liability Company	 
	 	Franklin Town Towers Associates
	 	 	99	 	 	 	5/21/1997	 	 	 	PA              	 	 	Limited Partnership	 
	 	GG Natural Gas, LLC
	 	 	50	 	 	 	1/24/2008	 	 	 	OH              	 	 	Limited Liability Company	 
	 

 

 

Schedule 9.18

Organizational Structure

FCRPC Active Subs

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	% Interest Directly	 	 	 	 	 	 	 	 	 	 	 
	 	Subsidiary	 	 	Held by FCRPC	 	 	Date Acquired	 	 	 	Jurisdiction Code	 	 	Entity Type	 
	 	Golden Gate Shopping Center, LTD.
	 	 	50	 	 	 	11/1/1999	 	 	 	OH	 	 	Limited Liability Company	 
	 	Granada Apartments Ltd.
	 	 	50	 	 	 	1/4/1996	 	 	 	OH	 	 	Limited Liability Company	 
	 	HAI/FCD Partnership
	 	 	99	 	 	 	1/1/1978	 	 	 	CA	 	 	General Partnership	 
	 	Halle Garage Investments, LLC
	 	 	100	 	 	 	7/31/2009	 	 	 	OH	 	 	Limited Liability Company	 
	 	Halle Investments, LLC
	 	 	100	 	 	 	7/20/2009	 	 	 	OH	 	 	Limited Liability Company	 
	 	Hamptons Apartments, L.L.C.
	 	 	50	 	 	 	3/31/1998	 	 	 	OH	 	 	Limited Liability Company	 
	 	In Town Hotels, Inc.
	 	 	100	 	 	 	1/31/1980	 	 	 	OH	 	 	Corporation	 
	 	In Town Parking, Inc.
	 	 	100	 	 	 	4/13/1982	 	 	 	OH	 	 	Corporation	 
	 	In Town Shopping Center, Inc.
	 	 	100	 	 	 	6/2/1981	 	 	 	OH	 	 	Corporation	 
	 	Independence Place Associates, L.L.C.
	 	 	50	 	 	 	5/12/1999	 	 	 	OH	 	 	Limited Liability Company	 
	 	Kentucky Properties Company, LLC
	 	 	50	 	 	 	4/11/2001	 	 	 	KY	 	 	Limited Liability Company	 
	 	Liberty Hill Apartments I, Ltd.
	 	 	50	 	 	 	2/24/1997	 	 	 	OH	 	 	Limited Liability Company	 
	 	Noble Towers Associates
	 	 	49	 	 	 	8/18/1978	 	 	 	PA	 	 	Limited Partnership	 
	 	Oracle-Wetmore Co. Limited Partnership
	 	 	1.35	 	 	 	1/1/1978	 	 	 	AZ	 	 	Limited Partnership	 
	 	Park Associates
	 	 	49	 	 	 	12/14/1987	 	 	 	PA	 	 	Limited Partnership	 
	 	Parlane Co., LLC
	 	 	50	 	 	 	10/10/2000	 	 	 	OH	 	 	Limited Liability Company	 
	 	Pine Ridge Apartments Co. II, Ltd.
	 	 	50	 	 	 	8/21/1997	 	 	 	OH	 	 	Limited Liability Company	 
	 	Pine Ridge Apartments Co. Limited Partnership
	 	 	49.5	 	 	 	3/30/1994	 	 	 	OH	 	 	Limited Partnership	 
	 	Pine Ridge Valley Apartments, Building H, LLC
	 	 	50	 	 	 	10/10/2000	 	 	 	OH	 	 	Limited Liability Company	 
	 	Pine Ridge Valley Apartments-East, LLC
	 	 	50	 	 	 	2/2/2001	 	 	 	OH	 	 	Limited Liability Company	 
	 	Playhouse Square Investment, Inc.
	 	 	100	 	 	 	12/17/1980	 	 	 	OH	 	 	Corporation	 
	 	Post Office Building Co.
	 	 	78	 	 	 	9/12/1983	 	 	 	OH	 	 	Corporation	 
	 	RM Member, LLC
	 	 	80	 	 	 	12/13/2004	 	 	 	CA	 	 	Limited Liability Company	 
	 	Rolling Acres Properties Co. Limited Partnership
	 	 	27.57	 	 	 	6/14/2007	 	 	 	OH	 	 	Limited Partnership	 
	 	Surfside Apartments, LLC
	 	 	1	 	 	 	9/7/2005	 	 	 	OH	 	 	Limited Liability Company	 
	 	T.C. Avenue, Inc. F/K/A F.C. Parklabrea Towers, Inc.
	 	 	100	 	 	 	7/16/1986	 	 	 	OH	 	 	Corporation	 
	 	Terminal Investments, Inc.
	 	 	100	 	 	 	10/19/1982	 	 	 	OH	 	 	Corporation	 
	 	Tower City Expansion, Inc.
	 	 	100	 	 	 	10/25/1991	 	 	 	OH	 	 	Corporation	 
	 	Tower City Hotel Associates Limited Partnership
	 	 	95	 	 	 	9/22/2005	 	 	 	DE	 	 	Limited Partnership	 
	 	Tower City Land Corporation
	 	 	100	 	 	 	12/4/1985	 	 	 	OH	 	 	Corporation	 
	 	Tower City Properties Ltd.
	 	 	50	 	 	 	3/24/1980	 	 	 	OH	 	 	Limited Partnership	 
	 	Tower City Restaurant, Inc.
	 	 	50	 	 	 	1/20/1984	 	 	 	OH	 	 	Corporation	 
	 	Tower City Riverview Company
	 	 	100	 	 	 	10/6/1989	 	 	 	OH	 	 	Corporation	 
	 

 

 

Schedule 9.18

Organizational Structure

FCRPC Active Subs

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	% Interest Directly	 	 	 	 	 	 	 	 	 	 	 
	 	Subsidiary	 	 	Held by FCRPC	 	 	Date Acquired	 	 	 	Jurisdiction Code	 	 	Entity Type	 
	 	Tower City Skylight Tower, Inc.
	 	 	100	 	 	 	3/17/1989	 	 	 	OH	 	 	Corporation	 
	 	Tower Energy, Inc.
	 	 	100	 	 	 	4/28/1989	 	 	 	OH	 	 	Corporation	 
	 	Tower Hotels, Inc.
	 	 	100	 	 	 	7/29/1983	 	 	 	OH	 	 	Corporation	 
	 	Tusar, Inc.
	 	 	100	 	 	 	2/22/1978	 	 	 	OH	 	 	Corporation	 
	 	Twin Lake Towers Venture
	 	 	50	 	 	 	1/1/1982	 	 	 	CO	 	 	General Partnership	 
	 	WBA Woodlake, L.L.C.
	 	 	99	 	 	 	7/27/1998	 	 	 	MI	 	 	Limited Liability Company	 
	 

 

 

Schedule 9.22

Outstanding Guarantees

See Attached

 

 

SCHEDULE 9.22

GUARANTEES OF FCRP & FCE

As of October 31, 2009

	 	 	 	 	 	 	 	 	 
	OPEN
& ACQUISITON	 	 	 	 	 	 	 
	 	 	 	 	 	 	Construction Loan	 
	 	 	Requisition Total	 	 	Amount & Other	 
	Project Name	 	Costs	 	 	Fundings	 
	 
	Bolingbrook
	 	 	 	 	 	 	 	 
	Dallas Mercantile
	 	 	 	 	 	 	 	 
	Haverhill
	 	 	 	 	 	 	 	 
	HRG Yuma (RELEASED AFTER 10/31/09)
	 	 	 	 	 	 	 	 
	Lucky Strike
	 	 	 	 	 	 	 	 
	New York Times Building
	 	 	 	 	 	 	 	 
	Oakland, CA
	 	 	 	 	 	 	 	 
	Stratford Crossing Phase II
	 	 	 	 	 	 	 	 
	Stratford Crossing Phase III
	 	 	 	 	 	 	 	 
	Sutton Landing
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Temecula Expansion (RELEASED AFTER 10/31/09)
	 	 	 	 	 	 	 	 
	Tobacco Row — Edgeworth
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 
	OPEN & ACQUISITON TOTAL
	 	 	684,747,567	 	 	 	523,058,821	 
	 	 	 
	Percentage Complete
	 	 	88	%	 	 	 	 

	 	 	 	 	 	 	 	 	 
	UNDER CONSTRUCTION	 	 	 	 	 	 	 
	 	 	 	 	 	 	Construction Loan	 
	 	 	Requisition Total	 	 	Amount & Other	 
	Project Name	 	Costs	 	 	Fundings	 
	 
	80 DeKalb
	 	 	 	 	 	 	 	 
	Beekman
	 	 	 	 	 	 	 	 
	East River Plaza
	 	 	 	 	 	 	 	 
	Gulfstream Racetrack
	 	 	 	 	 	 	 	 
	Presidio
	 	 	 	 	 	 	 	 
	Ridge Hill -Yonkers
	 	 	 	 	 	 	 	 
	The Yards — Park
	 	 	 	 	 	 	 	 
	Waterfront Mall — DC Office Buildings
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 
	UNDER CONSTRUCTION TOTAL
	 	 	2,704,065,530	 	 	 	2,106,000,000	 
	 	 	 
	Percentage Complete
	 	 	68	%	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 
	OPEN & ACQUISITION / UNDER
CONSTRUCTION TOTAL
	 	 	3,388,813,097	 	 	 	2,629,058,821	 
	 	 	 
	Percentage Complete
	 	 	72	%	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 
	LAND *	 	 	 	 	 	 	 
	 	 	 	 	 	 	Construction Loan	 
	 	 	Requisition Total	 	 	Amount & Other	 
	Project Name	 	Costs	 	 	Fundings	 
	 	 	 	 	 	 	 	 
	 
	Atlantic Yards1
	 	 	 	 	 	 	 	 
	FC Barberton Phase 1
	 	 	 	 	 	 	 	 
	Gladden Farms II (2)
	 	 	 	 	 	 	 	 
	Las Vegas City Hall (Post 10/31/09)
	 	 	 	 	 	 	 	 
	Moore Farms
	 	 	 	 	 	 	 	 
	Pembrooke Place Ltd
	 	 	 	 	 	 	 	 
	Pinehurst
	 	 	 	 	 	 	 	 
	Rockport Square II
	 	 	 	 	 	 	 	 
	San Antonio I
	 	 	 	 	 	 	 	 
	San Antonio II
	 	 	 	 	 	 	 	 
	Shamrock
	 	 	 	 	 	 	 	 
	Stapleton Land Development
	 	 	 	 	 	 	 	 
	Stapleton Land — IFDA 1 - Filing 1-19 Trunk
	 	 	 	 	 	 	 	 
	Stapleton Land — IFDA 1 - Filing 1-28 Intract
	 	 	 	 	 	 	 	 
	Sterling Lakes
	 	 	 	 	 	 	 	 
	Sterling Lakes, The Point at (1)
	 	 	 	 	 	 	 	 
	Sterling Lakes, The Point at (2)
	 	 	 	 	 	 	 	 
	Summers Walk
	 	 	 	 	 	 	 	 
	Tangerine
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 
	LAND TOTAL
	 	 	242,423,625	 	 	 	242,423,625	 
	 	 	 
	Percentage Complete
	 	 	66	%	 	 	 	 

 

			
	*	 
	We have guaranteed the lender the lien free completion of certain horizontal
infrastructure associated with certain land development projects. The maximum amount due by Forest
City under these completion guarantees is limited to the amounts described above

	 	 	 	 	 	 	 	 	 
	 	 	 
	Grand Total
	 	 	3,631,236,721	 	 	 	2,871,482,446	 
	 	 	 
	Percentage Complete
	 	 	72	%	 	 	 	 

 

 

Schedule 9.23

Outstanding Indebtedness as of October 31, 2009

Noneexv10w2

Exhibit 10.2

PLEDGE AGREEMENT

     THIS PLEDGE AGREEMENT (this “Agreement”), made this 29th day of January, 2010, by FOREST CITY
RENTAL PROPERTIES CORPORATION, an Ohio corporation (“Pledgor”), to KEYBANK NATIONAL ASSOCIATION
(“KeyBank”), as Agent for itself and other Banks (the “Banks”) from time to time party to the
Credit Agreement (as hereinafter defined) (KeyBank, in its capacity as Agent, is hereinafter
referred to as “Agent”).

W I T N E S S E T H:

     WHEREAS, Pledgor is an equity holder of various limited liability companies, partnerships,
corporations and other entities from time to time that are direct Subsidiaries of Pledgor,
including, without limitation, each of the limited liability companies, limited and general
partnerships, corporations and other entities described on Exhibit “A” attached hereto and
made a part hereof (all such limited liability companies, partnerships, corporations and other
entities that are direct Subsidiaries of Pledgor are hereinafter referred to collectively as the
“Companies” and individually as a “Company”); and

     WHEREAS, Exhibit “B” attached hereto and made a part hereof sets forth certain
information as to the Property Owing Entities owned directly or indirectly by each Company; and

     WHEREAS, the Companies are governed by certain agreements and other organizational documents
(as amended from time to time, collectively, the “Organizational Agreements”); and

     WHEREAS, Pledgor, KeyBank, as Administrative Agent, PNC Bank, National Association, as
Syndication Agent, Bank of America, N.A., as Documentation Agent, and the banks which are now or
hereafter a party thereto have entered into that certain Second Amended and Restated Credit
Agreement dated of even date herewith (as the same may be varied, extended, supplemented,
consolidated, amended, replaced, increased, renewed or modified or restated, the “Credit
Agreement”), pursuant to which the Banks have agreed to provide loans and other extensions of
credit to Pledgor in an amount of up to $500,000,000.00 (collectively, the “Loan”), which Loan is
evidenced by, among other things, those certain Notes made by Pledgor to the order of the Banks
(such Notes, together with such other Notes as may be issued pursuant to the Credit Agreement, as
the same may be varied, extended, supplemented, consolidated, amended, replaced, renewed, modified,
increased or restated, are hereinafter referred to collectively as the “Note”); and

     WHEREAS, Agent and the Banks have required, as a condition to the making of the Loan to
Pledgor, that Pledgor execute this Agreement to secure the obligations of Pledgor under the Note,
the Credit Agreement and certain other agreements;

     NOW, THEREFORE, for and in consideration of the sum of Ten and No/100 Dollars ($10.00), and
other good and valuable considerations, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto do hereby covenant and agree as follows:

     1. Definitions. Capitalized terms used herein that are not otherwise defined herein
shall have the respective meanings set forth in the Credit Agreement.

 

 

     2. Grant of Security Interest. As security for the payment and performance by Pledgor
of each and all of the indebtedness, liabilities, duties, responsibilities and obligations, whether
such indebtedness, liabilities, duties, responsibilities and obligations are now existing or are
hereafter created or arising under this Agreement, the Note, the Credit Agreement, and any and all
agreements evidencing, securing or otherwise relating to the obligations evidenced by the Note or
set forth in the Credit Agreement (this Agreement, the Note, the Credit Agreement and such other
agreements, together with any and all renewals, modifications, consolidations and extensions
thereof, are hereinafter referred to collectively as the “Loan Documents”; and said indebtedness,
liabilities, duties, responsibilities and obligations of Pledgor are hereinafter referred to
collectively as the “Obligations”), Pledgor does hereby assign, pledge and deliver to Agent, for
the benefit of the Banks, and does hereby grant to the Agent, for the benefit of the Banks, a
security interest in, all of Pledgor’s right, title and interest in and to the following (provided
that, notwithstanding the foregoing, such assignment, pledge and delivery is not so made, and a
security interest is not so granted, for purposes of securing any guaranty of the Obligations):

          (a) All right, title, interest and claims or rights of Pledgor now or hereafter acquired as a
member, partner, shareholder or other equity holder of the Companies, specifically including, but
without limitation, Pledgor’s interest as a member, partner, shareholder or other equity holder in
the Companies, the interest of Pledgor in and to the Organizational Agreements of each of the
Companies in which Pledgor is a member, partner, shareholder or other equity holder, the capital of
the Companies, and any rights pertaining thereto, as such membership or partnership interests or
shares of stock or other equity interests are described on Exhibit “A”, together with any
and all other securities, cash, stock, certificates or other property, warrants, options or rights
in respect of, in addition to or substitution or exchange for any of the foregoing, or other
property at any time and from time to time received or receivable or otherwise distributed or
distributable in respect of or in exchange for all or any thereof; and

          (b) Any and all profits, proceeds, accounts, income, dividends, distributions, payments upon
dissolution or liquidation of any of the Companies, proceeds upon a redemption or conversion,
return of capital, repayment of loans by Pledgor to a Company, and payments of any kind or nature
whatsoever, now or hereafter distributable or payable by any of the Companies, or any member,
partner, shareholder or other equity holder of any of the Companies to Pledgor, by reason of
Pledgor’s interest in any of the Companies, or now or hereafter distributable or payable to Pledgor
from any other source by reason of Pledgor being a member, partner, shareholder or other equity
holder in any of the Companies, or on account of any interest in or claims or rights against any of
the Companies held by Pledgor as a member, partner, shareholder or other equity holder, as the case
may be, of any of the Companies, and any and all proceeds from any transfer, assignment or pledge
of any interest of Pledgor in, or claim or right against, any of the Companies (regardless of
whether such transfer, assignment or pledge is permitted under the terms hereof or the other Loan
Documents), and all claims, choses in action or things in action or rights as a creditor now or
hereafter arising against any of the Companies; and

          (c) All right, title and interest of Pledgor in and to any shareholder or similar agreements
relating to the Companies or their shareholders or equity holders; and

2

 

          (d) All accounts, contract rights, deposit accounts, security entitlements, securities
accounts, investment property, money, commercial tort claims and general intangibles (including,
without limitation, payment intangibles), in each case now or hereafter evidencing, arising from or
relating to, any of the foregoing; and

          (e) All notes or other documents or instruments now or hereafter evidencing or securing any of
the foregoing; and

          (f) All rights of Pledgor to collect and enforce payments distributable or payable by any of
the Companies or any member, partner, shareholder or other equity holder (or manager acting on
their behalf) of any of the Companies to Pledgor pursuant to the terms of any of the Organizational
Agreements of any Company in which Pledgor is a member, partner, shareholder or other equity
holder, or otherwise; and

          (g) All documents, writings, leases, books, files, records, computer tapes, programs, ledger
books and ledger pages arising from or used in connection with any of the foregoing; and

          (h) All renewals, extensions, additions, substitutions or replacements of any of the
foregoing; and

          (i) All powers, options, rights, privileges and immunities pertaining to any of the foregoing;
and

          (j) All products and proceeds of any of the foregoing and all cash, security or other property
distributed on account of, or in exchange for or substitution of, any of the foregoing (including,
without limitation, all stock rights, stock splits, subscription rights, dividends, new
certificates and new securities).

     All of the foregoing described in this Paragraph 2, as limited by the Collateral Exclusion
described below, are hereinafter referred to collectively as the “Collateral”. The items described
in (a) (and (j), to the extent it would otherwise constitute any item described in (a)), above, as
limited by the Collateral Exclusion described below, are sometimes hereinafter referred to as the
“Equity Interests”, and the items described in (b)-(i) (and (j), to the extent it would otherwise
constitute any item described in (b)-(i)), above, as limited by the Collateral Exclusion described
below, are sometimes hereinafter referred to collectively as the “Distributions”.

     Notwithstanding the foregoing, no security interest is granted in any of the foregoing items
described in (a)-(j) above if and to the extent the grant of such security interest shall
constitute, result in or give rise to (i) a breach or violation of, or default under, the terms of
any project level loan documentation or permitted mezzanine financing documentation (regardless of
whether Pledgor or any Company is a party to such agreement or contract) relating to or governing
indebtedness to which such Company, or such other Subsidiary of Pledgor in which such Company owns
a direct or indirect interest, is a party (either as borrower or guarantor or in any other capacity) (the
“Project/Mezzanine Loan Documentation”), or the termination thereof or (ii) a breach or violation
of, or default under, the terms of any organizational documents (including, without limitation, the
Organizational Agreements) governing such Company or Subsidiary (the “Organizational
Documentation”) or the termination thereof, which Organizational Documentation contain any
provision that would prohibit or limit the creation of

3

 

a Lien on any such item in favor of Agent and is required by any Project/Mezzanine Loan Documentation or is in favor of a third party joint
venture partner relating to a particular project or investment (the limitations contained in
clauses (i) and (ii) of this paragraph, subject to the following provisos, the “Collateral
Exclusion”); provided, however, that the limitations on the grant of a security
interest in any potential Collateral set forth in this paragraph shall not be effective (1) to the
extent any prohibition on the creation of a security interest in any accounts or general
intangibles, whether by contract, law, or pursuant to the terms of a purchase money lien, would be
rendered invalid pursuant to Sections 9-406(d), 9-407(a), 9-408(a) or 9-409(a) of the Uniform
Commercial Code as enacted in the State of Ohio (the “UCC”) or (2) upon the termination of such
prohibition (howsoever occurring).

     3. Obligations Secured. This Agreement secures the payment and performance by Pledgor
of the Obligations.

     4. [Reserved].

     5. Warranties and Covenants. Pledgor does hereby warrant and represent to, and
covenant and agree with Agent and the Banks, as follows:

          (a) All material duties, obligations and responsibilities required to be performed by Pledgor
or any Company (interests in which are included in the Collateral) as of the date hereof under any
of the Organizational Agreements of any such Company in which Pledgor or such Company is a member,
partner, shareholder or other equity holder have been performed in all material respects, and no
default or condition which with the passage of time or the giving of notice, or both, would
constitute a default exists under any of such Organizational Agreements that would have a Material
Adverse Effect.

          (b) The Organizational Agreements of the Companies pledged as Collateral have been duly
authorized, executed and delivered by Pledgor, as applicable and each of such Organizational
Agreements are in full force and effect and are enforceable in accordance with their respective
terms except to the extent permitted by Section 8.02 of the Credit Agreement. Upon the occurrence
and during the continuance of a Material Possible Default or an Event of Default, Pledgor shall not
modify, amend, cancel, release, surrender, terminate or permit the modification, amendment,
cancellation, release, surrender or termination of, any of such Organizational Agreements, or
dissolve, liquidate or permit the expiration of any of such Organizational Agreements or the
termination or cancellation thereof, without in each instance the prior written consent of Agent.

          (c) Other than as permitted under the Credit Agreement or the Guaranty (which permission shall
be deemed revoked for purposes of this clause (c) for so long as an Event of Default has occurred
and is continuing), Pledgor is and shall remain the sole lawful, beneficial and record owner of the
Collateral, and has hereby granted a security interest to Agent, for the benefit of the Banks, free
and clear of all liens, restrictions, claims, Adverse Claims (as defined below), pledges,
encumbrances, charges, rights of third parties and rights of set off or recoupment whatsoever
(other than those in favor of Agent hereunder), and Pledgor has the full and complete right, power
and authority to grant a security interest in the Collateral in favor of Agent, for the benefit of
the Banks, in accordance with the terms and provisions of this Agreement. The term “Adverse
Claims” shall mean, with respect to any item of property, any

4

 

and all claims, liens, security interests, charges, options, rights, restrictions on transfer or pledge, covenants and encumbrances
of any kind affecting such item of property, including (if applicable) “adverse claims” as such
term is defined in Section 8-102 of the Uniform Commercial Code, other than the liens and security
interests created in favor of Agent pursuant to this Agreement. The obligations and restrictions
contained in this clause (c) shall not apply to the Collateral upon its release from the lien and
security interest created by this Agreement in accordance with the terms of this Agreement.

          (d) Upon the occurrence and during the continuance of a Material Possible Default or an Event
of Default, Pledgor shall represent to Agent and the Banks, with respect to any Equity Interests
included in the Collateral or potential Collateral, the extent to which Pledgor has funded the
capital contributions required to be funded by Pledgor pursuant to the applicable Organizational
Agreements relating to the Collateral or any potential Collateral and, to the extent any such
required capital contributions have not been fully funded, represent to Agent and the Banks the
amount of such unfunded capital contributions and the date(s) by which such unfunded capital
contributions were or are required to be made, for each applicable Company.

          (e) This Agreement, together with the UCC financing statements delivered to Agent and filed in
the requisite jurisdiction(s) referenced in Section 6(g) below, creates a valid and binding first
priority security interest in the Collateral securing the payment of the Obligations and the
performance by Pledgor of its obligations under this Agreement and under the other Loan Documents,
and all filings (to the extent such filings have been made in the requisite jurisdiction(s)
referenced in Section 6(g) below) and other actions necessary to perfect such security interests
have been duly made and taken.

          (f) Upon the occurrence and during the continuance of a Material Possible Default or an Event
of Default, all original notes and other documents or instruments evidencing, constituting,
guaranteeing or securing Distributions, or any right to receive such Distributions, shall be
promptly endorsed or assigned to and delivered to Agent for the benefit of the Banks.

          (g) (A) Pledgor’s correct legal name (including, without limitation, punctuation and spacing)
indicated on the public record of Pledgor’s jurisdiction, mailing address, identity or corporate
structure, residence or chief executive office, jurisdiction of organization, organizational identification number, and federal tax identification number, are
as set forth on Exhibit “D” attached hereto and by this reference made a part hereof, (B)
Pledgor has been using or operating under said name, identity or corporate structure without change
for the time period set forth on Exhibit “D” attached hereto, and (C) in order to perfect
the pledge and security interests granted herein against Pledgor, one or more UCC financing
statements must be filed with the Secretary of State of Ohio. Pledgor covenants and agrees that
Pledgor shall not change any of the matters addressed by clauses (A), (B), or (C) of this paragraph
unless it has given Agent at least thirty (30) days prior written notice of any such change and
Pledgor hereby authorizes the filing by Agent or Agent’s counsel of such additional financing
statements or other instruments in such jurisdictions as Agent may deem necessary or reasonably
advisable in its sole discretion to prevent any filed financing statement from becoming misleading
or the loss of perfection of the security interest therein or lien thereon which is granted hereby.

          (h) Pledgor agrees to do such further acts and things, and to execute and deliver such
additional conveyances, assignments, agreements, documents, endorsements,

5

 

assurances and instruments as Agent may reasonably at any time request in connection with the administration or
enforcement of this Agreement or related to the Collateral or any part thereof to maintain the
perfection and priority of the security interest and lien created hereby and/or in order to better
assure and confirm unto Agent its rights, powers and remedies hereunder; provided that the
foregoing shall not require Pledgor to deliver to Agent (x) any Due Diligence Materials (as defined
below) for purposes of establishing whether and to what extent the Collateral Exclusion applies to
any potential Collateral prior to the occurrence of a Material Possible Default or an Event of
Default or (y) any document, instrument or agreement that is required to be so delivered under this
Agreement only after the occurrence of a Material Possible Default or Event of Default. Without
limiting the generality of the foregoing, at any time and from time to time, Pledgor shall, at the
reasonable request of Agent (but only to the extent consistent with the other provisions of this
Agreement, including without limitation, any provision requiring the execution and or delivery of
any document, instrument or agreement only during a Material Possible Default or an Event of
Default), make, execute, acknowledge, and deliver or authorize the execution and delivery of and
where appropriate, cause to be recorded and/or filed and from time to time thereafter to be
re-recorded and/or refiled at such time in such offices and places as shall be deemed desirable by
Agent all such other and further assignments, security agreements, financing statements,
continuation statements, endorsements, assurances, certificates and other documents as Agent from
time to time may reasonably require for the better assuring, conveying, assigning and confirming to
Agent the Collateral and the rights intended now or hereafter to be conveyed or assigned, and for
carrying out the intention or facilitating the performance of the terms of this Agreement. Upon
any failure of Pledgor to take any such action as may be required by this paragraph, Agent may
make, execute, record, file, rerecord and/or refile, acknowledge and deliver any and all such
further assignments, security agreements, financing statements, continuation statements,
endorsements, assurances, instruments, certificates and documents for and in the name of Pledgor,
and Pledgor hereby irrevocably appoints Agent, for the benefit of the Banks, the Pledgor’s agent
and attorney-in-fact with full power of substitution so to do. This power is coupled with an
interest and is irrevocable.

          (i) Pledgor consents to the admission, upon the occurrence and during the continuance of an
Event of Default, of Agent, for the benefit of the Banks, or any other purchaser of any of the
Equity Interests following a foreclosure sale or conveyance in lieu thereof as a substitute member,
partner, shareholder or other equity holder, as the case may be, of the applicable Company, with
all of the rights and privileges of a member, partner, shareholder or other equity holder, as the
case may be, under the applicable Organizational Agreement in the event that Agent, for the benefit
of the Banks, exercises its rights under this Agreement and Agent, for the benefit of the Banks, or
such other purchaser succeeds to ownership of all or any portion of the Equity Interests, without
satisfaction of any conditions or other requirements to such admission set forth in the
Organizational Agreements.

          (j) Pledgor shall, at any time and from time to time following the occurrence and during the
continuance of a Material Possible Default or an Event of Default, promptly take such steps as
Agent may reasonably request for Agent, for the benefit of the Banks, (i) to obtain an
acknowledgment, in form and substance reasonably satisfactory to Agent, of any bailee having
possession of any of the Collateral, stating that such bailee holds possession of such Collateral
on behalf of Agent for the benefit of the Banks, (ii) to obtain “control” of any investment
property, deposit accounts, letter-of-credit rights, or electronic chattel paper (as such

6

 

terms are defined by the UCC with corresponding provisions thereof defining what constitutes “control” for
such items of collateral) in each case which are included as Collateral, with any agreements
establishing control to be in form and substance reasonably satisfactory to Agent, and (iii) to
otherwise to insure the continued perfection and priority of Agent’s security interest hereunder in
any of the Collateral and of the preservation of its rights therein.

          (k) Pledgor hereby authorizes Agent, its counsel or its representative, at any time and from
time to time, to file financing statements, amendments and continuations that describe or relate to
the Collateral or any portion thereof in such jurisdictions as Agent may deem necessary or
desirable in order to perfect the security interests granted by Pledgor under this Agreement or any
other Loan Document, and such financing statements may contain, among other items as Agent may deem
advisable to include therein, the federal tax identification number and organizational number of
Pledgor; provided that this clause (k) shall not act as an authorization by Pledgor to the
filing of any financing statement (or amendment to any financing statement) that provides for a
description of collateral without regard to the Collateral Exclusion unless and until a Material
Possible Default or an Event of Default has occurred and is continuing, and any description of
collateral contained in any such financing statement shall be consistent with the Collateral
Exclusion provided for above, but shall not prohibit the filing of any financing statement that
amends or modifies the description of the Collateral in any such initial financing statement to the
extent such description of Collateral is amended or modified in connection with any updated
information provided pursuant to Section 7.05(e)(ii) or Section 7.05(i) of the Credit Agreement or
Section 6(i)(A) or (B) of this Agreement.

          (l) The transactions contemplated by this Agreement do not violate and do not require that any
filing, registration or other act be taken with respect to any and all laws pertaining to the registration or transfer of securities, including without
limitation the Securities Act of 1933, as amended, the Exchange Act, and any and all rules and
regulations promulgated thereunder or any similar federal, state or local law, rule, regulation or
orders (collectively, the “Applicable Law”) hereafter enacted or analogous in effect, as the same
are amended and in effect from time to time (hereinafter referred to collectively as the
“Securities Laws”). Pledgor shall at all times comply in all material respects with the Securities
Laws as the same pertain to all or any portion of the Collateral or any of the transactions
contemplated by this Agreement.

          (m) Other than any Collateral which (i) is dealt in or traded on a securities exchange or in a
securities market, (ii) is an “investment company security” (as defined in Section 8-103(b) of the
UCC or the equivalent thereof), (iii) contains terms that expressly provide that it is a security
governed by Article 8 of the Uniform Commercial Code of any jurisdiction or (iv) is held in or
credited to a securities account, in each case as of the date of this Agreement or delivered to
Pledgor after the date hereof in connection with any settlement of a bankruptcy claim against a
tenant or, as to the characteristics identified under items (iii) or (iv) of this clause (m), as
may be required in connection with the consummation of a permitted financing, Pledgor shall not
permit any Collateral to possess any of the foregoing characteristics without the prior written
consent of Agent. Other than Collateral that may be represented by a certificate as of the date of
this Agreement or that represents Equity Interests in a corporation, or as may be required in
connection with the consummation of a permitted financing, Pledgor shall not permit any Collateral
to be represented by a certificate without the prior written consent of Agent, and to the extent
any Collateral is or becomes to be so represented by a certificate, Pledgor shall (to the extent
not required to be delivered to any other Person in connection with

7

 

any such permitted financing) hold such certificates as bailee for the benefit of the Agent and the Banks and upon the occurrence
of a Material Possible Default or an Event of Default deliver such certificates to Agent as
otherwise required by this Agreement.

     6. General Covenants. Pledgor covenants and agrees that, so long as this Agreement is
continuing:

          (a) Subject to Section 6(i) below, Pledgor shall not, without the prior written consent of
Agent, which consent may be withheld by Agent in its sole and absolute discretion, directly or
indirectly or by operation of law, transfer, assign, pledge, convey, option, mortgage, hypothecate
or encumber any of the Collateral, other than pursuant to a transaction permitted under the Credit
Agreement or the Guaranty.

          (b) Pledgor shall at all times defend the Collateral against all claims and demands of all
persons at any time claiming any interest in the Collateral adverse to Agent’s interest in the
Collateral as granted hereunder.

          (c) Pledgor shall perform all of its material duties, responsibilities and obligations (x)
under each of the Organizational Agreements of each Company the Equity Interests in which and the
Distributions in respect of which are pledged as Collateral (a “Pledged Company”) and of which
Pledgor is a member, partner, shareholder or other equity holder and (y) with respect to the
Collateral, and Pledgor shall cause each other Pledged Company which owns an interest in any other Pledged Company to perform all of its
material duties, responsibilities and obligations under each of the Organizational Agreements of
the applicable Company of which such Company is a member, partner, shareholder or other equity
holder; provided that Pledgor and any such Company shall not be required to perform any such
duties, responsibilities or obligations under any joint venture agreement with an unrelated third
party to the extent the performance of same by Pledgor or such Company shall be contested in good
faith and by appropriate proceedings, except to the extent maintaining such contest could
reasonably be expected to result in a loss or forfeiture of all or any part of the Collateral or
potential Collateral.

          (d) Upon the occurrence and during the continuance of a Material Possible Default or an Event
of Default, Pledgor shall, at the request of Agent, promptly take such actions as Agent may
reasonably require to enforce or cause to be enforced the terms of any of the Organizational
Agreements of any Pledged Company in which Pledgor has an ownership interest or any other contract,
agreement or instrument included in, giving rise to, creating, establishing, evidencing or relating
to the Collateral or to collect or enforce any claim for payment or other right or privilege
assigned to Agent, for the benefit of the Banks, hereunder.

          (e) If any amounts are due Pledgor from any of the Pledged Companies to Pledgor, including,
without limitation, any amounts in respect of Distributions payable to Pledgor in the future, and
the obligations to pay or repay such amount is to be evidenced by a separate document or
instrument, then as evidence of such obligations, Pledgor shall, upon the occurrence and during the
continuance of a Material Possible Default or an Event of Default, cause such Company to issue to
Pledgor, as the evidence of any such obligations of such Company to pay Distributions to Pledgor in
the future, a promissory note, which note shall (i) at the request of Agent, bear the legend
attached hereto as Exhibit “C” and provide that all

8

 

payments due under such promissory note are to be paid and applied as provided in this
Agreement until the Obligations are paid in full and Agent and the Banks have no further obligation
to make any advances or other extensions of credit under the Credit Agreement, or until this
Agreement is otherwise terminated as provided herein and (ii) be delivered to Agent as required by
Section 5(g) of this Agreement. No other evidence of such obligations shall be executed by such
Company to Pledgor.

          (f) Upon the occurrence and during the continuance of any Material Possible Default or Event
of Default, Pledgor shall, immediately upon receipt, forward to Agent duplicate copies of any and
all notices of default under any of the Organizational Agreements of any Pledged Company in which
Pledgor is a member, partner, shareholder or other equity holder or of any failure by Pledgor to
perform any obligation under any of such Organizational Agreements.

          (g) Upon the occurrence and during the continuance of any Material Possible Default or Event
of Default, Pledgor shall promptly deliver to Agent (i) such documents and reports respecting the
Collateral or potential Collateral in such form and detail as Agent may reasonably request, (ii)
copies, certified by a Senior Officer of the Pledgor as being true, complete and correct, of (x)
all Organizational Documentation and originals of any and all certificates representing the Equity
Interests in the Companies, together with appropriately completed and executed powers and (y) all
Project/Mezzanine Loan Documentation to which any Company (or any Subsidiary of such Company) is a
party, by which it may be bound or which may, by its terms, restrict or limit the ability of the
Pledgor to pledge as collateral any of the direct or indirect, economic or beneficial interests in
such Company, (iii) an acknowledgement from each Company in form and substance satisfactory to
Agent acknowledging the pledge of the Equity Interests in such Company and (iv) such other
documents, agreements, instruments, reports and certificates as Agent shall reasonably request for
purposes of more specifically identifying the Collateral (and the extent to which the Collateral
Exclusion may apply) and/or preserving, protecting and/or enforcing it rights and remedies with
respect to any such Collateral (the items described in clauses (g)(i)-(iv) above being hereinafter
referred to as the “Due Diligence Materials”). Furthermore, Pledgor acknowledges and agrees that,
at any time upon the occurrence and during the continuance of any Material Possible Default or
Event of Default, and in any event following delivery to Agent of any updated information pursuant
to Section 7.05(e)(ii) or Section 7.05(i) of the Credit Agreement, Agent may unilaterally amend or
supplement Exhibits “A” and “B” attached hereto (including, without limitation, any amendment or
supplement as may be necessary as a result of the operation of Section 6(i) of this Agreement) to
reflect the Collateral granted or intended to be granted hereby (as to the items shown on
Exhibit “A” hereto) and to update the list of Property Owning Entities on Exhibit
“B” hereto and, at the cost and expense of Pledgor, conduct UCC searches and file such UCC
financing statements as Agent may deem necessary to establish, preserve, protect and enforce the
Collateral, the perfection and priority of Agent’s interest, for the benefit of the Banks, therein
and its rights in and to such Collateral.

          (h) Anything herein to the contrary notwithstanding, (i) Pledgor shall remain liable under
each of the Organizational Agreements of each Company in which Pledgor is a member, partner,
shareholder or other equity holder and all other contracts, agreements and instruments included in,
giving rise to, creating, establishing, evidencing or relating to the Collateral to the extent set
forth therein to perform all of its duties and obligations (including,

9

 

without limitation, any obligation to make capital contributions or provide other funds to
such entities) to the same extent as if this Agreement had not been executed, (ii) the exercise by
Agent of any of its rights hereunder shall not release Pledgor from any of its duties or
obligations under any of such Organizational Agreements or any such contracts, agreements and
instruments, and (iii) neither Agent nor any of the Banks shall have any obligation or liability
under any of such Organizational Agreements or any such contract, agreement or instrument by reason
of this Agreement, nor shall Agent or any of the Banks be obligated to perform any of the
obligations or duties of Pledgor thereunder or to take any action to collect or enforce any claim
for payment or other right or privilege assigned to Agent hereunder.

          (i) Pledgor shall not permit to become effective in any document, agreement, permit, lease or
license relating to any Collateral or potential Collateral a provision that would prohibit or limit
the creation of a Lien on such property in favor of Agent, for the benefit of the Banks (any such
provision a “Restriction on Transfer”), except to the extent such Restriction on Transfer is
entered into or put in place in connection with a transaction permitted by Section 8.04 or 8.11 of
the Credit Agreement or is otherwise permitted under Section 8.05 of the Credit Agreement;
provided, that Pledgor shall (and shall cause its Subsidiaries to) endeavor to enter into
(x) Project/Mezzanine Loan Documentation in connection with any modification, incurrence or
assumption of Indebtedness permitted by Section 8.04 or 8.11 of the Credit Agreement and (y)
Organizational Documentation, in each case that permits the best possible lien and security
interest in the ownership interests (or such portion thereof) of the Companies in favor of Agent
and the Banks (it being understood and agreed that this clause (i) does not require Pledgor to
provide Agent with any second or lesser priority lien on any collateral pledged in connection with
any such modification, incurrence or assumption of such permitted Indebtedness). In furtherance of
the foregoing, Pledgor covenants and agrees as follows:

               (A) to the extent there has occurred any acquisition or creation of a direct Subsidiary by
Pledgor or any Property Owning Entity, Pledgor hereby authorizes Agent, following delivery to Agent
of any updated information pursuant to Section 7.05(e)(ii) or Section 7.05(i) of the Credit
Agreement, to (1) unilaterally amend or supplement Exhibit “A” attached hereto in order to
grant to Agent, for the benefit of the Banks, and subject to the Collateral Exclusion, a first
priority lien on and security interest in the Equity Interests of such Subsidiary owned by Pledgor
(and/or the related Distributions) and file any financing statements (including any amendments to
existing financing statements) as Agent may deem necessary to establish, preserve, protect and
enforce the perfection and priority of Agent’s and the Banks’ interest in, and its rights in and
to, such Collateral, and (2) amend or supplement Exhibit “B” attached hereto to reflect any
changes in Property Owning Entities; or

               (B) upon the occurrence and during the continuance of a Material Possible Default or an Event
of Default, in connection with any refinancing, prepayment or repayment of any indebtedness of any
Subsidiary, whether or not secured by any real estate, which removes or terminates (without
replacing) any Restriction on Transfer or does not prohibit the granting of any pledge of or
security interest in the Equity Interests in such Subsidiary (and/or the related Distributions),
Pledgor shall (or shall cause such Subsidiary to) promptly execute and deliver such documents,
instruments, agreements and certificates as Agent may reasonably request, including any amendments
to or additional Security Documents, in order to grant to Agent, for the benefit of the Banks, a
first priority lien on and security interest in as

10

 

much of such Equity Interests and/or Distributions (or such portion thereof) as may be granted
by Pledgor.

          (j) Upon the occurrence and during the continuance of a Material Possible Default or an Event
of Default, Pledgor shall cause each Pledged Company or such Company’s respective Subsidiaries
(subject to the terms of any Project/Mezzanine Loan Documentation and any Organizational
Documentation related to a joint venture arrangement with an unrelated third party which contains
any provision that would prohibit or limit the same) to promptly distribute to Pledgor (but not
less frequently than once each calendar quarter, unless otherwise approved by Agent;
provided that any amounts distributable to Pledgor as a result of a sale or other
disposition of any property or asset of such Company or Subsidiary or the refinancing of any
indebtedness relating thereto shall be distributed to Pledgor as promptly as possible), whether in
the form of dividends, distributions or otherwise, Pledgor’s pro rata share of all profits,
proceeds or other income relating to or arising from such Company’s or such Subsidiary’s use,
operation, financing, refinancing, sale or other disposition of its assets and properties after (i)
the payment by such Company or such Subsidiary of its debt service, operating expenses, capital
improvements and leasing commissions for such quarter and (ii) the establishment of reasonable
reserves for the payment of operating expenses not paid on at least a quarterly basis and capital
improvements and tenant improvements to be made to such Company’s or Subsidiary’s assets and
properties approved by such Company or Subsidiary in the course of its business consistent with its
past practices.

     7. Substitution, Exchanges, Additional Interest.

     If Pledgor shall at any time be entitled to receive or shall receive any certificate or other
property, option or right, upon, in respect of, as an addition to, or in substitution or exchange
for any of the Collateral, whether for value paid by Pledgor or otherwise, Pledgor agrees that the
same shall be deemed to be Collateral as the same may be limited by the Collateral Exclusion and,
to the extent Agent determines in its sole discretion that delivery is necessary to perfect or
maintain perfection of its security interest therein, shall, upon the occurrence and during the
continuance of a Material Possible Default or an Event of Default, be delivered directly to Agent
at Agent’s request, in each case accompanied by proper instruments of assignment and powers duly
executed by Pledgor in such a form as may be required by Agent, to be held by Agent for the benefit
of the Banks subject to the terms hereof, as further security for the Obligations (except as
otherwise provided herein with respect to the application of the foregoing to the Obligations). If
following the occurrence and during the continuance of a Material Possible Default or an Event of
Default, Pledgor receives any of the foregoing directly, Pledgor agrees to hold such property in
trust for the benefit of Agent and the Banks, and to promptly surrender such property to Agent. In
the event that Pledgor purchases or otherwise acquires or obtains any additional interest in any
Pledged Company or any rights or options to acquire such interest, all rights to receive profits,
proceeds, accounts, income, dividends, distributions or other payments as a result of such
additional interest, rights and options shall automatically be deemed to be a part of the
Collateral, as the same may be limited by the Collateral Exclusion. All certificates, if any,
representing such interests shall be held by Pledgor (to the extent not required to be delivered to
any other Person in connection with any mezzanine financing permitted under the Loan Documents),
and, upon the occurrence and during the continuance of a Material Possible Default or an Event of
Default, be promptly delivered to Agent, together with assignments

11

 

related thereto, or other instruments appropriate to transfer a certificate representing any
such interest, duly executed in blank.

     8. Events of Default. The occurrence of any of the following shall be an “Event of
Default”:

          (a) Any warranty, representation or statement made, deemed made or repeated by or on behalf of
Pledgor in this Agreement proves untrue or misleading in any material respect when made, deemed to
have been made or repeated;

          (b) Pledgor shall fail to duly and fully comply with any covenant, condition or agreement in
Section 6(a), 6(e), 6(f), 6(i) or (to the extent the proviso in Section 8(c) of this Agreement
eliminates the notice and cure period provided therein) 7 of this Agreement;

          (c) Pledgor shall fail, or Pledgor shall fail to cause any other Person, to duly and fully
comply with any covenant, condition or agreement of this Agreement (other than those specified in
subsection (b) above) and such failure is not cured within thirty (30) days (or, in the case of any
failure to comply with any provision of Section 7 of this Agreement, fifteen (15) days;
provided that the fifteen (15) day notice and cure period shall only apply to the extent
there is no Material Possible Default existing at the time of such failure or at any time during
such fifteen (15) day period) after the giving of written notice thereof to Pledgor by Agent that
the specified default is to be remedied;

          (d) The occurrence of an Event of Default as defined in any of the other Loan Documents;

          (e) Any amendment to or termination of a financing statement covering any of the Collateral
and naming Pledgor as debtor and Agent, as secured party for the benefit of the Banks, or any
correction statement with respect thereto, is filed in any jurisdiction by, or caused by, or at the
insistence, request or urging of Pledgor or by, or caused by, or at the insistence, request or
urging of any principal, shareholder or officer of Pledgor without the prior written consent of
Agent; or

          (f) Any amendment to or termination of a financing statement covering any of the Collateral
and naming Pledgor as debtor and Agent as secured party for the benefit of the Banks, or any
correction statement with respect thereto, is filed in any jurisdiction by any party other than
Agent or Agent’s counsel without the prior written consent of Agent and the effect of such filing
is not completely nullified to the reasonable satisfaction of Agent within ten (10) days after
notice to Pledgor thereof.

     9. Remedies.

          (a) Upon the occurrence and during the continuance of any Event of Default, Agent may take any
action deemed by Agent to be necessary or appropriate to the enforcement of the rights and remedies
of Agent under this Agreement and the other Loan Documents, including, without limitation, the
exercise of its rights and remedies with respect to any or all of the Collateral. The remedies of
Agent shall include, without limitation, all rights and remedies specified in this Agreement and
the other Loan Documents, all remedies of Agent under applicable general or statutory law, and the
remedies of a secured party under the UCC,

12

 

regardless of whether the UCC has been enacted or enacted in that form in any other
jurisdiction in which such right or remedy is asserted. Any notice required by law, including, but
not limited to, notice of the intended disposition of all or any portion of the Collateral, shall
be reasonable and properly given if given in the manner prescribed for the giving of notice herein,
and, in the case of any notice of disposition, if given at least ten (10) days prior to such
disposition. Agent may require Pledgor to assemble the Collateral and make it available to Agent
at any place to be designated by Agent which is reasonably convenient to both parties. It is
expressly understood and agreed that Agent shall be entitled to dispose of the Collateral at any
public or private sale or sales, without recourse to judicial proceedings and without either
demand, appraisement, advertisement or notice (except such notice as is otherwise required under
this Agreement) of any kind, all of which are expressly waived, and that Agent, for the benefit of
the Banks, shall be entitled to bid and purchase at any such sale. To the extent the Collateral
consists of marketable securities, Agent shall not be obligated to sell such securities for the
highest price obtainable, but may sell them at the market price available on the date of sale.
Agent shall not be obligated to make any sale of the Collateral if it shall determine not to do so
regardless of the fact that notice of sale of the Collateral may have been given. Agent may,
without notice or publication, adjourn any public sale from time to time by announcement at the
time and place fixed for sale, and such sale may, without further notice, be made at the time and
place to which the same was so adjourned. Each purchaser at any such sale shall hold the
Collateral sold absolutely free from claim or right on the part of Pledgor. In the event that any
consent, approval or authorization of any governmental agency or commission will be necessary to
effectuate any such sale or sales, Pledgor shall execute all such applications or other instruments
as Agent may deem reasonably necessary to obtain such consent, approval or authorization. Upon the
occurrence and during the continuance of an Event of Default, Agent may notify any account debtor
or obligor with respect to the Collateral to make payment directly to Agent for the benefit of the
Banks, and may demand, collect, receipt for, settle, compromise, adjust, sue for, foreclose or
realize upon the Collateral as Agent may determine whether or not the Obligations or the Collateral
are due, and for the purpose of realizing Agent’s and the Banks’ rights therein, Agent may receive,
open and dispose of mail addressed to Pledgor and endorse notes, checks, drafts, money orders,
documents of title or other evidences of payment, shipment or storage of any form of Collateral on
behalf and in the name of Pledgor, as its attorney in fact. In addition, upon the occurrence and
during the continuance of an Event of Default, Pledgor hereby irrevocably designates and appoints
Agent its true and lawful attorney-in-fact either in the name of Agent or Pledgor to (i) sign
Pledgor’s name on any Collateral, drafts against account debtors, assignments, proof of claim in
any bankruptcy or other insolvency proceeding involving any account debtor, notice of lien, claim
of lien or assignment or satisfaction of lien, or financing statement or continuation statement
under the UCC; (ii) send verifications of accounts receivable to any account debtor; (iii) exercise
any Voting Rights (as defined below) and other rights as provided in Section 9(d) below; and (iv)
in connection with a transfer of the Collateral as described above, sign in Pledgor’s name any
documents necessary to transfer title to the Collateral to Agent, for the benefit of the Banks, or
any third party. All acts of said attorney in fact are hereby ratified and approved and Agent
shall not be liable for any mistake of law or fact made in connection therewith. This power of
attorney is coupled with an interest and shall be irrevocable so long as any amounts remain unpaid
on any of the Obligations. All remedies of Agent shall be cumulative to the full extent provided
by law, all without liability except to account for property actually received, but Agent shall
have no duty to exercise such rights and shall not be responsible for any failure to do so or delay
in so doing. Pursuit by Agent of certain judicial or other remedies shall not abate or bar other
remedies with respect to the Obligations or to other

13

 

portions of the Collateral. Agent may exercise its rights to the Collateral without resorting
or regard to other collateral or sources of security or reimbursement for the Obligations. In the
event that any transfer tax, deed tax, conveyance tax or similar tax is payable in connection with
the foreclosure, conveyance in lieu of foreclosure or otherwise of the Equity Interests or other
Collateral, Pledgor shall pay such amount to Agent upon demand and if Pledgor fails to pay such
amount on demand, Agent may advance such amount on behalf of Pledgor and the amount thereof shall
become a part of the Obligations and bear interest at the default rate provided for in Section 4.05
of the Credit Agreement (the “Default Rate”) until paid.

          (b) If Pledgor fails to perform any agreement or covenant contained in this Agreement
following the occurrence and during the continuance of a Material Possible Default or an Event of
Default, Agent may itself perform, or cause to be performed, any agreement or covenant of Pledgor
contained in this Agreement which Pledgor shall fail to perform, and the cost of such performance,
together with any reasonable expenses, including reasonable attorneys’ fees actually incurred
(including reasonable attorneys’ fees incurred in any appeal) by Agent in connection therewith,
shall be payable by Pledgor upon demand and shall constitute a part of the Obligations and shall
bear interest at the Default Rate.

          (c) Whether or not an Event of Default has occurred and whether or not Agent is the absolute
owner of the Collateral, Agent may take such action as Agent may deem necessary (which action, if
taken prior to any Event of Default, must be deemed reasonably necessary by Agent, and Agent shall
give Pledgor at least five (5) days prior notice before taking any such action, unless Agent
determines that such action is necessary in order to avoid any loss or forfeiture of the
Collateral) to protect the Collateral or potential Collateral or its security interest, for the
benefit of the Banks, therein, Agent being hereby authorized to pay, purchase, contest and
compromise any Lien which in the reasonable judgment of Agent appears to be prior or superior to
its security interest, for the benefit of the Banks, in the Collateral (other than any Lien
permitted by Section 8.05 of the Credit Agreement), and in exercising any such powers and authority
to pay necessary expenses, employ counsel and pay reasonable attorney’s fees. Any such advances
made or expenses incurred by Agent shall be deemed advanced under the Loan Documents, shall
increase the indebtedness evidenced and secured thereby, shall be payable upon demand and shall
bear interest at the Default Rate.

          (d) Any certificates or securities held by Agent, for the benefit of the Banks, as Collateral
hereunder may, at any time following the occurrence and during the continuance of an Event of
Default, and at the option of Agent, be registered in the name of Agent or its nominee, for the
benefit of the Banks, endorsed or assigned in blank or in the name of any nominee and Agent may
deliver any or all of the Collateral to the issuer or issuers thereof for the purpose of making
denominational exchanges or registrations or transfer or for such other purposes in furtherance of
this Agreement as Agent may deem desirable. While no Event of Default has occurred and is
continuing and at any time after the occurrence of an Event of Default but prior to the Agent
notifying Pledgor of the termination of Pledgor’s voting rights, Pledgor shall retain the right to
vote any of the Collateral, as applicable, or exercise membership, partnership, shareholder or
other equity holder rights, as applicable, in a manner not inconsistent with the terms of this
Agreement and the other Loan Documents, and Agent hereby grants to Pledgor its proxy to enable
Pledgor to so vote any of the Collateral or exercise such membership, partnership, shareholder or
other equity holder rights, as applicable (except that Pledgor shall not have any right to exercise
any such power if the exercise thereof would violate or result in a

14

 

violation of any of the terms of this Agreement or any of the other Loan Documents). At any
time after the occurrence and during the continuance of any Event of Default, Agent or its nominee,
for the benefit of the Banks, shall, upon notice to Pledgor, have the sole and exclusive right to
give all consents, waivers and ratifications in respect of the Collateral and exercise all voting
and other membership, partnership, shareholder, management, approval or other rights at any meeting
of the members, partners, shareholders or other equity holders of the Companies pledged as
Collateral, (and the right to call such meetings) or otherwise (and to give written consents in
lieu of voting thereon) (collectively, the “Voting Rights”), and exercise any and all rights of
conversion, exchange and subscription or any of the rights, privileges or options pertaining to the
Collateral and otherwise act with respect thereto and thereunder as if Agent or its nominee were
the absolute owner thereof (all of such rights of Pledgor ceasing to exist and terminating upon the
occurrence and during the continuance of an Event of Default and the delivery of such notice to
Pledgor) including, without limitation, the right to exchange, at its discretion, any and all of
the Collateral upon the merger, consolidation, reorganization, recapitalization or the readjustment
of the issuer thereof, all without liability except to account for property actually received and
in such manner as Agent shall determine in its sole and absolute discretion, but Agent shall have
no duty to exercise any of the aforesaid rights, privileges or options and shall not be responsible
for the failure to do so or delay in so doing. In addition to the foregoing, for so long as
Pledgor shall have the right to vote the Collateral during the continuation of an Event of Default,
Pledgor covenants and agrees that it will not, without the prior written consent of Agent, vote or
take any consensual action with respect to the Collateral owned by it which would adversely affect
the rights of Agent and the Banks or the value of such Collateral or that would be inconsistent
with or result in a violation of any provision of the Credit Agreement or any other Loan Document.
The exercise by Agent of any of its rights and remedies under this paragraph shall not be deemed a
disposition of collateral under Article 9 of the UCC nor an acceptance by Agent of any of the
Collateral in satisfaction of the Obligations.

          (e) Upon the written demand of Agent following the occurrence of and during the continuance of
an Event of Default, Pledgor shall deliver or cause to be delivered to Agent or Agent’s designee
all books, records, contracts, documents, files and other correspondence relating to each Pledged
Company, any other Person in which any such Company has an ownership interest, or any other
property owned by any such Company or such other Person.

          (f) Notwithstanding anything in this Agreement or any other Loan Document to the contrary, any
reference in this Agreement or any other Loan Document to “the continuance of a default” or “the
continuance of an Event of Default” or any similar phrase shall not create or be deemed to create
any right of Pledgor or any other party to cure any default following the expiration of any
applicable grace or notice and cure period.

     10. Duties of Agent. The powers conferred on Agent hereunder are solely to protect
its and the Banks’ interest in the Collateral and shall not impose any duty upon it to exercise any
such powers. Agent’s duty with reference to the Collateral shall be solely to use slight care in
the custody and preservation of the Collateral, which shall not include any steps necessary to
preserve rights against prior parties and to use such care in the custody of Collateral in the
possession of Agent as is accorded to other personal property of the same type as the Collateral in
the possession of Agent. Agent shall have no responsibility or liability for the collection of any
Collateral or by reason of any invalidity, lack of value or uncollectability of any of the payments
received by it.

15

 

     11. Indemnification. It is specifically understood and agreed that this Agreement
shall not operate to place any responsibility or obligation whatsoever upon Agent or any of the
Banks, or cause Agent or any of the Banks to be, or to be deemed to be, a member, partner,
shareholder or other equity holder in any of the Companies and that in accepting this Agreement,
Agent and the Banks neither assume nor agree to perform at any time whatsoever any obligation or
duty of Pledgor relating to the Collateral or under any of the Organizational Agreements or any
other mortgage, indenture, contract, agreement or instrument to which any of the Companies is a
party or to which any of them is subject, all of which obligations and duties shall be and remain
with and upon Pledgor.

     12. Security Interest Absolute. All rights of Agent and the Banks, and the security
interests hereunder, and all of the obligations secured hereby, shall be absolute and
unconditional, irrespective of:

          (a) Any lack of validity or enforceability of the Loan Documents or any other agreement or
instrument relating thereto;

          (b) Any change in the time (including the extension of the maturity date of the Note), manner
or place of payment of, or in any other term of, all or any of the Obligations or any other
amendment or waiver of or any consent to any departure from the Loan Documents;

          (c) Any exchange or release of, or nonperfection or impairment of any security interest in or
lien on, any other collateral for the Obligations, or any release or amendment or waiver of or
consent to departure from any of the Loan Documents with respect to all or any part of the
Obligations; or

          (d) Any other circumstance (other than payment of the Obligations in full) that might
otherwise constitute a defense available to, or a discharge of, Pledgor or any third party for the
Obligations or any part thereof.

     13. Amendments and Waivers. No amendment or waiver of any provision of this Agreement
nor consent to any departure therefrom shall in any event be effective unless the same shall be in
writing and signed by Agent (acting with therequisite consent of the Banks as provided in the
Credit Agreement), and then such waiver or consent shall be effective only in the specific instance
and for the specific purpose for which given. No delay or omission of Agent to exercise any right,
power or remedy hereunder accruing upon any Event of Default shall exhaust or impair any such
right, power or remedy or shall be construed to be a waiver of any such Event of Default, or
acquiescence therein; and every right, power and remedy given by this Agreement to Agent may be
exercised from time to time and as often as may be deemed expedient by Agent. Failure on the part
of Agent or any Bank to complain of any act or failure to act which constitutes an Event of
Default, irrespective of how long such failure continues, shall not constitute a waiver by Agent of
Agent’s rights hereunder or impair any rights, powers or remedies consequent on any Event of
Default. Pledgor hereby waives to the extent permitted by law all rights which Pledgor has or may
have under and by virtue of the UCC and any federal, state, county or municipal statute,
regulation, ordinance, constitution or charter, now or hereafter existing, similar in effect
thereto providing any right of Pledgor to notice and to a judicial hearing prior to seizure by
Agent of any of the Collateral. Pledgor hereby waives and renounces for itself, its successors and
assigns, presentment, demand, protest, advertisement or notice of

16

 

any kind (except for any notice required by law or the Loan Documents) and all rights to the
benefits of any statute of limitations and any moratorium, reinstatement, marshaling, forbearance,
valuation, stay, extension, homestead, redemption and appraisement now provided or which may
hereafter be provided by the Constitution and laws of the United States and of any state thereof,
both as to itself and in and to all of its property, real and personal, against the enforcement of
this Agreement and the collection of any of the Obligations.

     14. Continuing Security Interest; Transfer of Note; Release of Collateral. This
Agreement shall create a continuing security interest in the Collateral and shall (a) remain in
full force and effect until the indefeasible payment in full of the Obligations and the Banks have
no further obligation to make any advances or issue letters of credit under the Credit Agreement,
(b) be binding upon Pledgor and its permitted successors and assigns, and (c) inure, together with
the rights and remedies of Agent hereunder, to the benefit of Agent and the Banks and their
respective successors, transferees and assigns. Upon the indefeasible payment in full of the
Obligations and the termination or expiration of any obligation of the Banks to make further
advances or issue letters of credit under the Credit Agreement, the security interest granted
hereby shall terminate and all rights to the Collateral shall revert to Pledgor. Upon any such
termination, Agent will, at Pledgor’s expense, execute and deliver to Pledgor such documents as
Pledgor shall reasonably request to evidence such termination. In addition to the foregoing, in
connection with any sale of any asset of Pledgor or any Company, or modification or incurrence of
project level or mezzanine level Indebtedness permitted by the Credit Agreement, Agent shall, so
long as no Event of Default has occurred and is continuing, execute and deliver any partial release
of the applicable Collateral or potential Collateral reasonably requested by Pledgor, such release
to be in form and substance reasonably satisfactory to Agent and delivered upon receipt by Agent of
evidence reasonably satisfactory to Agent of an applicable Restriction on Transfer.

     15. Modifications, Etc. Pledgor hereby consents and agrees that Agent and the Banks
may at any time and from time to time, without notice to or further consent from Pledgor, either
with or without consideration, surrender any property or other security of any kind or nature
whatsoever held by it or by any person, firm or corporation on its behalf or for its account,
securing the Obligations; substitute for any Collateral so held by it, other collateral of like
kind; agree to modification of the terms of the Loan Documents; extend or renew the Loan Documents
for any period; grant releases, compromises and indulgences with respect to the Loan Documents to
any persons or entities now or hereafter liable thereunder or hereunder and for any period of time;
release any guarantor, endorser or any other person or entity liable with respect to the
Obligations; or take or fail to take any action of any type whatsoever; and no such action which
Agent and the Banks shall take or fail to take in connection with the Loan Documents, or any of
them, or any security for the payment of the Obligations or for the performance of any obligations
or undertakings of Pledgor, nor any course of dealing with Pledgor or any other person, shall
release Pledgor’s obligations hereunder, affect this Agreement in any way or afford Pledgor any
recourse against Agent or any Bank; provided that nothing contained in this paragraph shall
operate as a waiver of any right Pledgor has under the Loan Documents to approve of or consent to
any amendment or other modification to any Loan Document.

     16. Securities Act. In view of the position of Pledgor in relation to the Collateral,
or because of other current or future circumstances, a question may arise under the Securities Laws
or the Organizational Agreements of the Companies included in the Collateral with respect to any
disposition of the Collateral permitted hereunder. Pledgor recognizes that the Organizational

17

 

Agreements of the Companies included in the Collateral may limit transfers of the Equity
Interests and the admission of substitute shareholders, members, partners or other equity holders
in the Companies included in the Collateral. Pledgor understands that compliance with the
Securities Laws and the Organizational Agreements might very strictly limit the course of conduct
of Agent if Agent were to attempt to dispose of all or any part of the Collateral in accordance
with the terms hereof, and might also limit the extent to which or the manner in which any
subsequent transferee of any Collateral could dispose of the same. Similarly, there may be other
legal restrictions or limitations affecting Agent in any attempt to dispose of all or part of the
Collateral in accordance with the terms hereof under applicable Blue Sky or other state securities
laws or similar Applicable Law analogous in purpose or effect. Pledgor recognizes that in light of
the foregoing restrictions and limitations Agent may, with respect to any sale of the Collateral,
limit the purchasers to those who will agree, among other things, to acquire such Collateral for
their own account, for investment, and not with a view to the distribution or resale thereof and
who are able to satisfy any conditions or requirements set forth in the Organizational Agreements
or the Securities Laws and Agent may sell the Collateral in parcels and at such times and to such
Persons as Agent may reasonably determine is necessary to comply with such conditions or
requirements. Pledgor acknowledges and agrees that in light of the foregoing restrictions and
limitations, Agent in its sole and absolute discretion may, in accordance with Applicable Law and
the Organizational Agreements, (a) proceed to make such a sale whether or not a registration
statement for the purpose of registering such Collateral or part thereof shall have been filed
under the Securities Laws, (b) approach and negotiate with a single potential purchaser to effect
such sale and (c) sell the Collateral in parcels and at such times and to such Persons as Agent may
reasonably determine is necessary to comply with such conditions and requirements. Pledgor
acknowledges and agrees that any such sale might result in prices and other terms less favorable to
the seller than if such sale were a public sale without such restrictions. In the event of any
such sale, Agent and the Banks shall incur no responsibility or liability for selling all or any
part of the Collateral in accordance with the terms hereof at a price that Agent, in its sole and
absolute discretion, may in good faith deem reasonable under the circumstances, notwithstanding the
possibility that a substantially higher price might have been realized if the sale were deferred
until after registration as aforesaid or if more than a single purchaser were approached or if all
the Collateral were sold at a single sale. Pledgor further agrees that any sale or sales by Agent
of the Collateral made as provided in this paragraph shall be commercially reasonable. The
provisions of this paragraph will apply notwithstanding the existence of a public or private market
upon which the quotations or sales prices may exceed substantially the price at which Agent sells.
Agent and the Banks shall not be liable to Pledgor for any loss in value of the Collateral by
reason of any delay in the sale of the Collateral.

     17. Governing Law; Terms. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE
LAWS OF THE STATE OF OHIO EXCEPT TO THE EXTENT OF PROCEDURAL AND SUBSTANTIVE MATTERS RELATING ONLY
TO THE CREATION, PERFECTION (OTHER THAN PERFECTION OF A SECURITY INTEREST IN ANY CERTIFICATE
EVIDENCING COLLATERAL (TO THE EXTENT REQUIRED TO BE DELIVERED TO AGENT HEREUNDER) BY CONTROL
THEREOF, WHICH SHALL BE GOVERNED BY THE LAWS OF THE STATE WHERE SUCH CERTIFICATE IS LOCATED) AND
FORECLOSURE OF SECURITY INTERESTS AND LIENS, AND ENFORCEMENT OF RIGHTS AND REMEDIES AGAINST THE
COLLATERAL, WHICH MATTER SHALL BE GOVERNED BY THE INTERNAL LAWS OF THE STATE OF OHIO.

18

 

     18. Notices. Each notice, demand, election or request provided for or permitted to be
given pursuant to this Agreement (hereinafter in referred to as a “Notice”) must be in writing and
shall be deemed to have been properly given or served if given in the manner prescribed in the
Credit Agreement if given to Pledgor.

     19. Counterparts. This Agreement may be executed in any number of counterparts, all
of which taken together shall constitute one and the same instrument, and any of the parties hereto
may execute this Agreement by signing any such counterpart.

     20. Entire Agreement. THIS AGREEMENT INTEGRATES ALL THE TERMS AND CONDITIONS
MENTIONED HEREIN OR INCIDENTAL HERETO AND SUPERSEDES ALL ORAL REPRESENTATIONS AND NEGOTIATIONS AND
PRIOR WRITINGS WITH RESPECT TO THE SUBJECT MATTER HEREOF.

     21. Miscellaneous. Time is of the essence of this Agreement. Title or captions of
paragraphs hereof are for convenience only and neither limit nor amplify the provisions hereof.
If, for any circumstances whatsoever, fulfillment of any provision of this Agreement shall involve
transcending the limit of validity presently prescribed by applicable law, the obligation to be
fulfilled shall be reduced to the limit of such validity; and if any clause or provision herein
operates or would prospectively operate to invalidate this Agreement, in whole or in part, then
such clause or provision only shall be held for naught, as though not herein contained, and the
remainder of this Agreement shall remain operative and in full force and effect.

[Remainder of Page Intentionally Left Blank]

19

 

          IN WITNESS WHEREOF, Pledgor and Agent have executed this Agreement under seal on the date
first above written.

	 	 	 	 	 
	 	PLEDGOR:

FOREST CITY RENTAL PROPERTIES CORPORATION, an Ohio corporation

 	 
	 
	 	By:  	/s/
Robert G. O’Brien	 
	 	 	Name: Robert G. O’Brien  	 
	 	 	Title: Executive Vice President  	 
	 
	 
	 	 	 	[SEAL] 	 
	 
	 
	 
	 	AGENT:

KEYBANK NATIONAL ASSOCIATION, as Agent for the Banks

 	 
	 
	 	By:  	/s/
Joshua K. Mayers	 
	 	 	Title: 	Joshua
K. Mayers 	 
	 	 	 	Vice President 	 

 

 

	 	 	 	 	 

EXHIBIT “A”

COMPANIES

(see attached)

EXHIBIT “A” — Page 1

 

 

     

Exhibit A to Pledge Agreement

FCRPC Active Subs

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	% Interest Directly	 	 	 	 	 	Jurisdiction	 	 	 	 
	 	Company	 	 	Held by FCRPC	 	 	Date Acquired	 	 	Code	 	 	Entity Type	 
	 	Artus Inc.

	 	 	 	100	 	 	 	2/2/1981
	 	 	OH
	 	 	Corporation	 
	 	Ballston Common Associates, L.P.

	 	 	 	50	 	 	 	4/30/1994
	 	 	DE
	 	 	Limited Partnership	 
	 	Ballston Development Corporation

	 	 	 	100	 	 	 	3/28/1984
	 	 	OH
	 	 	Corporation	 
	 	Boulevard Mall Expansion, L.L.C.

	 	 	 	50	 	 	 	9/11/1997
	 	 	NY
	 	 	Limited Liability Company	 
	 	Boulevard Mall SPE, LLC

	 	 	 	49.5	 	 	 	9/13/2006
	 	 	DE
	 	 	Limited Liability Company	 
	 	Boulevard Mall, L.L.C.

	 	 	 	49.5	 	 	 	11/20/1997
	 	 	NY
	 	 	Limited Liability Company	 
	 	Boulevard Towers LLC

	 	 	 	1	 	 	 	12/15/1998
	 	 	NY
	 	 	Limited Liability Company	 
	 	Brookpark Land Investment, Inc.

	 	 	 	100	 	 	 	11/22/1995
	 	 	OH
	 	 	Corporation	 
	 	Camelot Apartments, LLC

	 	 	 	50	 	 	 	3/26/2001
	 	 	OH
	 	 	Limited Liability Company	 
	 	Canton Centre Mall Limited Partnership

	 	 	 	89	 	 	 	12/20/2000
	 	 	OH
	 	 	Limited Partnership	 
	 	Center Courtland, Inc.

	 	 	 	100	 	 	 	8/2/1988
	 	 	OH
	 	 	Corporation	 
	 	Chagrin Office Building, L.L.C.

	 	 	 	66.6667	 	 	 	10/13/1998
	 	 	OH
	 	 	Limited Liability Company	 
	 	Chapel Hill Apartments, Ltd.

	 	 	 	100	 	 	 	6/11/2007
	 	 	OH
	 	 	Limited Liability Company	 
	 	Chapel Hill Mall, Ltd.

	 	 	 	80	 	 	 	6/15/2007
	 	 	OH
	 	 	Limited Liability Company	 
	 	Chestnut Lake Apartments Limited Partnership

	 	 	 	49	 	 	 	3/1/1994
	 	 	OH
	 	 	Limited Partnership	 
	 	Clarkwood Apartments Ltd.

	 	 	 	50	 	 	 	1/4/1996
	 	 	OH
	 	 	Limited Liability Company	 
	 	F. C. Billboard, Inc.

	 	 	 	100	 	 	 	3/24/1995
	 	 	PA
	 	 	Corporation	 
	 	F. C. Canton Centre, Inc.

	 	 	 	100	 	 	 	3/3/1994
	 	 	OH
	 	 	Corporation	 
	 	F. C. Fairmont, L.L.C.

	 	 	 	85	 	 	 	2/1/2002
	 	 	OH
	 	 	Limited Liability Company	 
	 	F. C. Laurels Limited Partnership

	 	 	 	99	 	 	 	9/26/1995
	 	 	IL
	 	 	Limited Partnership	 
	 	F. C. Liberty, Inc.

	 	 	 	100	 	 	 	4/25/1995
	 	 	PA
	 	 	Corporation	 
	 	F. C. Regency Club Limited Partnership

	 	 	 	99	 	 	 	3/24/1994
	 	 	NJ
	 	 	Limited Partnership	 
	 	F. C. Rolling Acres, Inc.

	 	 	 	100	 	 	 	3/3/1994
	 	 	OH
	 	 	Corporation	 
	 	F. C. Southridge Corp.

	 	 	 	100	 	 	 	9/11/1986
	 	 	OH
	 	 	Corporation	 
	 	F.C. Fireland, Inc.

	 	 	 	100	 	 	 	9/3/1985
	 	 	OH
	 	 	Corporation	 
	 	F.C. Member, Inc.

	 	 	 	100	 	 	 	1/17/1997
	 	 	NY
	 	 	Corporation	 
	 	F.C. Short Pump Land Investment, Inc.

	 	 	 	100	 	 	 	6/27/1996
	 	 	VA
	 	 	Corporation	 
	 	F.C. Stonecrest Land Investment, Inc.

	 	 	 	100	 	 	 	5/15/1997
	 	 	GA
	 	 	Corporation	 
	 	F.C. Stonecrest Mall, Inc.

	 	 	 	100	 	 	 	5/15/1997
	 	 	GA
	 	 	Corporation	 
	 	F.C. Temecula, Inc.

	 	 	 	100	 	 	 	7/21/1997
	 	 	CA
	 	 	Corporation	 
	 	F.C. Webster, LLC

	 	 	 	100	 	 	 	7/18/2001
	 	 	OH
	 	 	Limited Liability Company	 
	 	F.C. Westland, LLC

	 	 	 	100	 	 	 	7/18/2001
	 	 	OH
	 	 	Limited Liability Company	 
	 	F.C. Whiteacres LLC

	 	 	 	2	 	 	 	7/13/2005
	 	 	OH
	 	 	Limited Liability Company	 
	 	FC 45/75 Sidney, Inc.

	 	 	 	100	 	 	 	6/20/1997
	 	 	MA
	 	 	Corporation	 
	 	FC 8 South, Inc.

	 	 	 	100	 	 	 	6/12/2001
	 	 	NY
	 	 	Corporation	 
	 	FC 816-818 Mission Street, LLC

	 	 	 	100	 	 	 	7/28/2008
	 	 	DE
	 	 	Limited Liability Company	 
	 

 

 

     

Exhibit A to Pledge Agreement

FCRPC Active Subs

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	% Interest Directly	 	 	 	 	 	Jurisdiction	 	 	 	 
	 	Company	 	 	Held by FCRPC	 	 	Date Acquired	 	 	Code	 	 	Entity Type	 
	 	FC Bellevue Associates Limited Partnership

	 	 	 	99	 	 	 	2/24/1997
	 	 	WA
	 	 	Limited Partnership	 
	 	FC Emerald Park, Inc.

	 	 	 	100	 	 	 	7/9/1997
	 	 	OH
	 	 	Corporation	 
	 	FC LH, Inc.

	 	 	 	100	 	 	 	2/6/1996
	 	 	OH
	 	 	Corporation	 
	 	FC Manhattan, Inc.

	 	 	 	100	 	 	 	11/15/2001
	 	 	KS
	 	 	Corporation	 
	 	FC Master Associates III, Inc.

	 	 	 	100	 	 	 	7/25/2006
	 	 	NY
	 	 	Corporation	 
	 	FC Northern Boulevard, Inc.

	 	 	 	100	 	 	 	4/29/1996
	 	 	NY
	 	 	Corporation	 
	 	FC Pacific, Inc.

	 	 	 	100	 	 	 	12/26/1995
	 	 	NY
	 	 	Corporation	 
	 	FC Pittsburgh, Inc. (fka Harrah’s Pittsburgh Investment Company, Inc.)

	 	 	 	100	 	 	 	11/13/1997
	 	 	NV
	 	 	Corporation	 
	 	FC University Park II, Inc.

	 	 	 	100	 	 	 	10/17/1996
	 	 	MA
	 	 	Corporation	 
	 	FC/ACACIA, Inc.

	 	 	 	50	 	 	 	3/31/1998
	 	 	OH
	 	 	Corporation	 
	 	FC/Niasher, Inc.

	 	 	 	50	 	 	 	12/4/1997
	 	 	NY
	 	 	Corporation	 
	 	FCRPC/Niasher, Inc.

	 	 	 	50	 	 	 	11/20/2006
	 	 	NY
	 	 	Corporation	 
	 	First Forest City Brookline Street, Inc.

	 	 	 	100	 	 	 	12/31/1991
	 	 	MA
	 	 	Corporation	 
	 	First New York Management Company, Inc.

	 	 	 	100	 	 	 	10/20/1987
	 	 	NY
	 	 	Corporation	 
	 	Forest Bay, Inc.

	 	 	 	100	 	 	 	6/7/1978
	 	 	OH
	 	 	Corporation	 
	 	Forest City 42nd Street, Inc.

	 	 	 	100	 	 	 	9/8/1995
	 	 	NY
	 	 	Corporation	 
	 	Forest City 64 Sidney Street, Inc.

	 	 	 	100	 	 	 	12/1/1988
	 	 	OH
	 	 	Corporation	 
	 	Forest City American European Company, Ltd.

	 	 	 	50	 	 	 	1/6/1997
	 	 	OH
	 	 	Limited Liability Company	 
	 	Forest City Antelope Valley, Inc.

	 	 	 	100	 	 	 	12/11/1987
	 	 	OH
	 	 	Corporation	 
	 	Forest City B.U.G. Building, Inc.

	 	 	 	100	 	 	 	11/24/1986
	 	 	NY
	 	 	Corporation	 
	 	Forest City Bluffside Corporation

	 	 	 	100	 	 	 	3/8/1985
	 	 	OH
	 	 	Corporation	 
	 	Forest City Bruckner, Inc.

	 	 	 	100	 	 	 	6/20/1995
	 	 	NY
	 	 	Corporation	 
	 	Forest City California Commercial Construction, Inc.

	 	 	 	100	 	 	 	2/18/1988
	 	 	CA
	 	 	Corporation	 
	 	Forest City California Leasing, Inc.

	 	 	 	100	 	 	 	10/22/1992
	 	 	CA
	 	 	Corporation	 
	 	Forest City Cambridge, Inc.

	 	 	 	100	 	 	 	3/5/1984
	 	 	OH
	 	 	Corporation	 
	 	Forest City Central Station, Inc.

	 	 	 	100	 	 	 	6/12/1989
	 	 	OH
	 	 	Corporation	 
	 	Forest City Commercial Construction Co., Inc.

	 	 	 	100	 	 	 	2/23/1987
	 	 	OH
	 	 	Corporation	 
	 	Forest City Commercial Group, Inc.

	 	 	 	100	 	 	 	10/30/1997
	 	 	OH
	 	 	Corporation	 
	 	Forest City Commercial Holdings, Inc.

	 	 	 	100	 	 	 	3/24/1995
	 	 	NY
	 	 	Corporation	 
	 	Forest City Commercial Management, Inc.

	 	 	 	100	 	 	 	2/1/1985
	 	 	OH
	 	 	Corporation	 
	 	Forest City Development California, Inc.

	 	 	 	100	 	 	 	6/4/1986
	 	 	CA
	 	 	Corporation	 
	 	Forest City East Coast, Inc.

	 	 	 	100	 	 	 	5/8/1989
	 	 	NY
	 	 	Corporation	 
	 	Forest City Ely, Inc.

	 	 	 	100	 	 	 	3/11/1996
	 	 	NY
	 	 	Corporation	 
	 	Forest City Felix, Inc.

	 	 	 	100	 	 	 	12/17/1996
	 	 	NY
	 	 	Corporation	 
	 	Forest City Finance Corporation

	 	 	 	100	 	 	 	6/2/1988
	 	 	OH
	 	 	Corporation	 
	 	Forest City Flatbush, Inc.

	 	 	 	100	 	 	 	3/25/1996
	 	 	NY
	 	 	Corporation	 
	 

 

 

     

Exhibit A to Pledge Agreement

FCRPC Active Subs

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	% Interest Directly	 	 	 	 	 	Jurisdiction	 	 	 	 
	 	Company	 	 	Held by FCRPC	 	 	Date Acquired	 	 	Code	 	 	Entity Type	 
	 	Forest City Fulton Street Building, Inc.

	 	 	 	100	 	 	 	3/14/1989
	 	 	NY
	 	 	Corporation	 
	 	Forest City Galaxy, Inc.

	 	 	 	100	 	 	 	3/7/1994
	 	 	NV
	 	 	Corporation	 
	 	Forest City Grand Avenue, Inc.

	 	 	 	100	 	 	 	6/26/1996
	 	 	NY
	 	 	Corporation	 
	 	Forest City Grant Liberty Associates

	 	 	 	99	 	 	 	12/15/1983
	 	 	PA
	 	 	Limited Partnership	 
	 	Forest City International Plaza Corp.

	 	 	 	100	 	 	 	9/2/1981
	 	 	OH
	 	 	Corporation	 
	 	Forest City Mercy Campus, Inc.

	 	 	 	100	 	 	 	6/21/2005
	 	 	OH
	 	 	Corporation	 
	 	Forest City Metrotech Corp.

	 	 	 	100	 	 	 	9/30/1985
	 	 	OH
	 	 	Corporation	 
	 	Forest City N. Y., Inc.

	 	 	 	100	 	 	 	3/9/1989
	 	 	NY
	 	 	Corporation	 
	 	Forest City N.Y. Group, Inc.

	 	 	 	100	 	 	 	7/22/1998
	 	 	NY
	 	 	Corporation	 
	 	Forest City Park Manor, Inc.

	 	 	 	100	 	 	 	11/18/1987
	 	 	OH
	 	 	Corporation	 
	 	Forest City Peripheral Land, Inc.

	 	 	 	100	 	 	 	8/24/1989
	 	 	DE
	 	 	Corporation	 
	 	Forest City Pierrepont, Inc.

	 	 	 	100	 	 	 	6/25/1985
	 	 	NY
	 	 	Corporation	 
	 	Forest City Pittsburgh Land, Inc.

	 	 	 	100	 	 	 	8/24/1989
	 	 	DE
	 	 	Corporation	 
	 	Forest City Residential Group, Inc.

	 	 	 	100	 	 	 	3/5/1997
	 	 	OH
	 	 	Corporation	 
	 	Forest City Richmond, Inc.

	 	 	 	100	 	 	 	5/7/1996
	 	 	NY
	 	 	Corporation	 
	 	Forest City Robinson Mall, Inc.

	 	 	 	100	 	 	 	8/24/1989
	 	 	DE
	 	 	Corporation	 
	 	Forest City S.I.A.C. Building, Inc.

	 	 	 	100	 	 	 	11/24/1986
	 	 	NY
	 	 	Corporation	 
	 	Forest City San Vicente Corp.

	 	 	 	100	 	 	 	6/5/1979
	 	 	OH
	 	 	Corporation	 
	 	Forest City Sound View Associates

	 	 	 	99	 	 	 	1/16/1979
	 	 	CT
	 	 	Limited Partnership	 
	 	Forest City Station Square, Inc.

	 	 	 	100	 	 	 	5/19/1994
	 	 	PA
	 	 	Corporation	 
	 	Forest City Tech Place, Inc.

	 	 	 	100	 	 	 	3/1/1993
	 	 	NY
	 	 	Corporation	 
	 	Forest City Tilden, Inc.

	 	 	 	100	 	 	 	7/7/1993
	 	 	NY
	 	 	Corporation	 
	 	Forest City Waring, Inc.

	 	 	 	100	 	 	 	3/7/1996
	 	 	NY
	 	 	Corporation	 
	 	Forest City Washington, Inc.

	 	 	 	100	 	 	 	6/13/2002
	 	 	DC
	 	 	Corporation	 
	 	Forest City Sustainable Resources, LLC

	 	 	 	100	 	 	 	11/10/2009
	 	 	OH
	 	 	Limited Liability Company	 
	 	Franklin Town Towers Associates

	 	 	 	99	 	 	 	5/21/1997
	 	 	PA
	 	 	Limited Partnership	 
	 	GG Natural Gas, LLC

	 	 	 	50	 	 	 	1/24/2008
	 	 	OH
	 	 	Limited Liability Company	 
	 	Golden Gate Shopping Center, LTD.

	 	 	 	50	 	 	 	11/1/1999
	 	 	OH
	 	 	Limited Liability Company	 
	 	Granada Apartments Ltd.

	 	 	 	50	 	 	 	1/4/1996
	 	 	OH
	 	 	Limited Liability Company	 
	 	HAI/FCD Partnership

	 	 	 	99	 	 	 	1/1/1978
	 	 	CA
	 	 	General Partnership	 
	 	Halle Garage Investments, LLC

	 	 	 	100	 	 	 	7/31/2009
	 	 	OH
	 	 	Limited Liability Company	 
	 	Halle Investments, LLC

	 	 	 	100	 	 	 	7/20/2009
	 	 	OH
	 	 	Limited Liability Company	 
	 	Hamptons Apartments, L.L.C.

	 	 	 	50	 	 	 	3/31/1998
	 	 	OH
	 	 	Limited Liability Company	 
	 	In Town Hotels, Inc.

	 	 	 	100	 	 	 	1/31/1980
	 	 	OH
	 	 	Corporation	 
	 	In Town Parking, Inc.

	 	 	 	100	 	 	 	4/13/1982
	 	 	OH
	 	 	Corporation	 
	 	In Town Shopping Center, Inc.

	 	 	 	100	 	 	 	6/2/1981
	 	 	OH
	 	 	Corporation	 
	 

 

 

     

Exhibit A to Pledge Agreement

FCRPC Active Subs

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	% Interest Directly	 	 	 	 	 	Jurisdiction	 	 	 	 
	 	Company	 	 	Held by FCRPC	 	 	Date Acquired	 	 	Code	 	 	Entity Type	 
	 	Independence Place Associates, L.L.C.

	 	 	 	50	 	 	 	5/12/1999
	 	 	OH
	 	 	Limited Liability Company	 
	 	Kentucky Properties Company, LLC

	 	 	 	50	 	 	 	4/11/2001
	 	 	KY
	 	 	Limited Liability Company	 
	 	Liberty Hill Apartments I, Ltd.

	 	 	 	50	 	 	 	2/24/1997
	 	 	OH
	 	 	Limited Liability Company	 
	 	Noble Towers Associates

	 	 	 	49	 	 	 	8/18/1978
	 	 	PA
	 	 	Limited Partnership	 
	 	Oracle-Wetmore Co. Limited Partnership

	 	 	 	1.35	 	 	 	1/1/1978
	 	 	AZ
	 	 	Limited Partnership	 
	 	Park Associates

	 	 	 	49	 	 	 	12/14/1987
	 	 	PA
	 	 	Limited Partnership	 
	 	Parlane Co., LLC

	 	 	 	50	 	 	 	10/10/2000
	 	 	OH
	 	 	Limited Liability Company	 
	 	Pine Ridge Apartments Co. II, Ltd.

	 	 	 	50	 	 	 	8/21/1997
	 	 	OH
	 	 	Limited Liability Company	 
	 	Pine Ridge Apartments Co. Limited Partnership

	 	 	 	49.5	 	 	 	3/30/1994
	 	 	OH
	 	 	Limited Partnership	 
	 	Pine Ridge Valley Apartments, Building H, LLC

	 	 	 	50	 	 	 	10/10/2000
	 	 	OH
	 	 	Limited Liability Company	 
	 	Pine Ridge Valley Apartments-East, LLC

	 	 	 	50	 	 	 	2/2/2001
	 	 	OH
	 	 	Limited Liability Company	 
	 	Playhouse Square Investment, Inc.

	 	 	 	100	 	 	 	12/17/1980
	 	 	OH
	 	 	Corporation	 
	 	Post Office Building Co.

	 	 	 	78	 	 	 	9/12/1983
	 	 	OH
	 	 	Corporation	 
	 	RM Member, LLC

	 	 	 	80	 	 	 	12/13/2004
	 	 	CA
	 	 	Limited Liability Company	 
	 	Rolling Acres Properties Co. Limited Partnership

	 	 	 	27.57	 	 	 	6/14/2007
	 	 	OH
	 	 	Limited Partnership	 
	 	Surfside Apartments, LLC

	 	 	 	1	 	 	 	9/7/2005
	 	 	OH
	 	 	Limited Liability Company	 
	 	T.C. Avenue, Inc. F/K/A F.C. Parklabrea Towers, Inc.

	 	 	 	100	 	 	 	7/16/1986
	 	 	OH
	 	 	Corporation	 
	 	Terminal Investments, Inc.

	 	 	 	100	 	 	 	10/19/1982
	 	 	OH
	 	 	Corporation	 
	 	Tower City Expansion, Inc.

	 	 	 	100	 	 	 	10/25/1991
	 	 	OH
	 	 	Corporation	 
	 	Tower City Hotel Associates Limited Partnership

	 	 	 	95	 	 	 	9/22/2005
	 	 	DE
	 	 	Limited Partnership	 
	 	Tower City Land Corporation

	 	 	 	100	 	 	 	12/4/1985
	 	 	OH
	 	 	Corporation	 
	 	Tower City Properties Ltd.

	 	 	 	50	 	 	 	3/24/1980
	 	 	OH
	 	 	Limited Partnership	 
	 	Tower City Restaurant, Inc.

	 	 	 	50	 	 	 	1/20/1984
	 	 	OH
	 	 	Corporation	 
	 	Tower City Riverview Company

	 	 	 	100	 	 	 	10/6/1989
	 	 	OH
	 	 	Corporation	 
	 	Tower City Skylight Tower, Inc.

	 	 	 	100	 	 	 	3/17/1989
	 	 	OH
	 	 	Corporation	 
	 	Tower Energy, Inc.

	 	 	 	100	 	 	 	4/28/1989
	 	 	OH
	 	 	Corporation	 
	 	Tower Hotels, Inc.

	 	 	 	100	 	 	 	7/29/1983
	 	 	OH
	 	 	Corporation	 
	 	Tusar, Inc.

	 	 	 	100	 	 	 	2/22/1978
	 	 	OH
	 	 	Corporation	 
	 	Twin Lake Towers Venture

	 	 	 	50	 	 	 	1/1/1982
	 	 	CO
	 	 	General Partnership	 
	 	WBA Woodlake, L.L.C.

	 	 	 	99	 	 	 	7/27/1998
	 	 	MI
	 	 	Limited Liability Company	 
	 

 

 

EXHIBIT “B”

PROPERTY OWNING ENTITIES

(see attached)

EXHIBIT “B” — Page 1

 

 

Exhibit B to Pledge Agreement

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	COMMERCIAL GROUP	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	OFFICE BUILDINGS

	 	 	 
	 	 	 
	 	 	 
	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Fee Owner or Ground Lessee	 	 	FCRPC Subsidiary	 	 	Location	 	 	State	 
	 	Consolidated Office Buildings

	 	 	 
	 	 	 
	 	 	 
	 	 	 	 
	 	2 Hanson Place

	 	 	FC Hanson Office Associates, LLC
	 	 	F.C. Member, Inc. and Forest City Master Associates III, LLC*
	 	 	Brooklyn, NY
	 	 	NY	 
	 	250 Huron (formerly Chase Financial Tower)

	 	 	Tower City Hotel Associates Limited Partnership
	 	 	Tower Hotel, Inc. and Forest City Rental Properties Corporation
	 	 	Cleveland, OH
	 	 	OH	 
	 	35 Landsdowne Street

	 	 	FC 35 Landsdowne, Inc.
	 	 	Forest City Commercial Group, Inc.
	 	 	Cambridge, MA
	 	 	MA	 
	 	40 Landsdowne Street

	 	 	Forest City 40 Landsdowne, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Cambridge, MA
	 	 	MA	 
	 	45/75 Sidney Street

	 	 	FC 45/75 Sidney, Inc.
	 	 	FC 45/75 Sidney, Inc.
	 	 	Cambridge, MA
	 	 	MA	 
	 	65/80 Landsdowne Street

	 	 	FC 65/80 Landsowne, Inc.
	 	 	Forest City Commercial Group, Inc.
	 	 	Cambridge, MA
	 	 	MA	 
	 	88 Sidney Street

	 	 	Forest City 88 Sidney Street, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Cambridge, MA
	 	 	MA	 
	 	Ballston Common Office Center

	 	 	Ballston Office Center, LLC
	 	 	Chapel Hill Apartments, Ltd.
	 	 	Arlington, VA
	 	 	VA	 
	 	Colorado Studios

	 	 	FC Stapleton III, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Denver, CO
	 	 	CO	 
	 	Commerce Court

	 	 	Commerce Court, LLC
	 	 	Forest City N.Y. Group, Inc.
	 	 	Pittsburg, PA
	 	 	PA	 
	 	Edgeworth Building

	 	 	FC Edgeworth Lessor, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Richmond, VA
	 	 	VA	 
	 	Eleven MetroTech Center

	 	 	Forest City Tech Place Associates II, LLC
	 	 	Forest City Tech Place, Inc. and Forest City Master Associates III, LLC*
	 	 	Brooklyn, NY
	 	 	NY	 
	 	Fairmont Plaza

	 	 	FC Fairmont SPE, LLC
	 	 	F.C. Fairmount, LLC
	 	 	San Jose, CA
	 	 	CA	 
	 	Fifteen MetroTech Center

	 	 	Forest City Myrtle Associates, LLC
	 	 	F.C. Member Inc. and Forest City Master Associates III, LLC*
	 	 	Brooklyn, NY
	 	 	NY	 
	 	Halle Building

	 	 	a) Halle Office Building Limited Partnership, (b) S & R Playhouse Realty Company
	 	 	(a) FC LH (b) Halle Investments LLC and Playhouse Square Investment, Inc.
	 	 	Cleveland, OH
	 	 	OH	 
	 	Harlem Center

	 	 	Harlem Center Office, LLC
	 	 	Forest City Master Associates III, LLC* and Forest City Commercial Holdings, Inc.
	 	 	Manhattan, NY
	 	 	NY	 
	 	Higbee Building

	 	 	Forest Bay Tower City, LLC
	 	 	Forest Bay, Inc.
	 	 	Cleveland, OH
	 	 	OH	 
	 	Illinois Science and Technology Park
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	- Building A

	 	 	FC 4901 Searle, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Skokie, IL
	 	 	IL	 
	 	- Building P

	 	 	FC Skokie SPE, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Skokie, IL
	 	 	IL	 
	 	- Building Q

	 	 	FC Skokie SPE, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Skokie, IL
	 	 	IL	 
	 	Jackson Building

	 	 	Forest City Cambridge, Inc.
	 	 	Forest City Cambridge, Inc.
	 	 	Cambridge, MA
	 	 	MA	 
	 	Johns Hopkins — 855 North Wolfe Street

	 	 	855 N. WOLFE STREET, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	East Baltimore, MD
	 	 	MD	 
	 	New York Times

	 	 	FC Eighth Ave., LLC
	 	 	Forest City N.Y. Group, Inc. and FC 8 South, Inc.
	 	 	Manhattan, NY
	 	 	NY	 
	 	Nine MetroTech Center North

	 	 	FC Flatbush Associates II, LLC
	 	 	Forest City Flatbush, Inc. and Forest City Master Associates III, LLC*
	 	 	Brooklyn, NY
	 	 	NY	 
	 	One MetroTech Center

	 	 	Forest City Jay Street Associates, L.P.
	 	 	Forest City B.U.G. Building, Inc., Forest City Commercial Holdings, Inc. and Forest
City Master Associates III, LLC*
	 	 	Brooklyn, NY
	 	 	NY	 
	 	One Pierrepont Plaza

	 	 	Forest City Pierrepont Associates
	 	 	Forest City Pierrepont, Inc. and Forest City Master Associates III, LLC*
	 	 	Brooklyn, NY
	 	 	NY	 
	 	Post Office Plaza (formerly M. K. Ferguson)

	 	 	Post Office Plaza Limited Partnership
	 	 	Forest City Commercial Group, Inc.
	 	 	Cleveland, OH
	 	 	OH	 
	 	Resurrection Health Care (4930 Oakton)

	 	 	FC 4930 Oakton LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Skokie, IL
	 	 	IL	 
	 	Richards Building

	 	 	FC 64 Sidney, Inc.
	 	 	Forest City 64 Sidney Street, Inc.
	 	 	Cambridge, MA
	 	 	MA	 
	 	Richmond Office Park

	 	 	(a) FC Richmond I, LLC, (b) FC Richmond II, LLC, (c) Highland II, L.L.C., and
(d) Hillcrest Investments, LLC
	 	 	(a) Canton Centre Mall Limited Partnership, (b) F.C. Fireland, Inc., (c) F.C.
Fireland, Inc. and (d) Canton Centre Mall Limited Partnership
	 	 	Richmond, VA
	 	 	VA	 
	 	Skylight Office Tower

	 	 	Skylight Office Tower SPE, LLC
	 	 	Forest City Skylight Tower, Inc.
	 	 	Cleveland, OH
	 	 	OH	 
	 	Stapleton Medical Office Building

	 	 	FC Stapleton III, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Denver, CO
	 	 	CO	 
	 	Ten MetroTech Center

	 	 	625 Fulton Associates, LLC
	 	 	Forest City Fulton Street Building, Inc. and Forest City Master Associates III, LLC*
	 	 	Brooklyn, NY
	 	 	NY	 
	 	Terminal Tower

	 	 	Terminal Tower SPE, LLC
	 	 	Terminal Investments, Inc.
	 	 	Cleveland, OH
	 	 	OH	 
	 	Twelve MetroTech Center

	 	 	330 Jay Office Associates, LLC
	 	 	Forest City Commercial Holdings, Inc.
	 	 	Brooklyn, NY
	 	 	NY	 
	 

 

 

Exhibit B to Pledge Agreement

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Two MetroTech Center

	 	 	Forest City Bridge Street Associates, L.P.
	 	 	Forest City S.I.A.C. Building, Inc., Forest City Commercial
Holdings, Inc. and Forest City Master Associates III, LLC*
	 	 	Brooklyn, NY
	 	 	NY	 
	 	University of Pennsylvania

	 	 	PB 31st Street, LLC
	 	 	Forest City Equity Services, Inc.
	 	 	Philadelphia, PA
	 	 	PA	 
	 	Waterfront Station — East 4th and
West 4th Bldgs

	 	 	Waterfront Associates, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Washington, D.C.
	 	 	DC	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Unconsolidated Office Buildings
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	350 Massachusetts Ave

	 	 	University Park Phase II Limited Partnership
	 	 	FC University Park II, Inc.
	 	 	Cambridge, MA
	 	 	MA	 
	 	818 Mission Street

	 	 	(a) FC 816-818 Mission Street LLC (b) Westfield
816-818 Mission Street, LLC
	 	 	(a) Forest City Rental Properties Corporation
	 	 	San Francisco, CA
	 	 	CA	 
	 	Advent Solar

	 	 	MDelS, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Albuquerque, NM
	 	 	NM	 
	 	Bulletin Building

	 	 	Bulletin Building Owner, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	San Francisco, CA
	 	 	CA	 
	 	Chagrin Plaza I and II

	 	 	Chagrin Office Building, LLC
	 	 	Forest City Rental Properties Corporation
	 	 	Beachwood, OH
	 	 	OH	 
	 	Clark Building

	 	 	Thirty-Eight Sidney Street Limited Partnership
	 	 	Forest City Commercial Group, Inc.
	 	 	Cambridge, MA
	 	 	MA	 
	 	Enterprise Place

	 	 	Enterprise Operating Co., LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Beachwood, OH
	 	 	OH	 
	 	Liberty Center

	 	 	Liberty Center Venture
	 	 	Forest City Grant Liberty Associates and F.C. Liberty, Inc.
	 	 	Pittsburgh, PA
	 	 	PA	 
	 	Mesa Del Sol Town Center

	 	 	Mesa-Towncenter Building #1, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Albuquerque, NM
	 	 	NM	 
	 	Mesa Del Sol  — Fidelity

	 	 	Mesa-Innovation Park Building 2, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Albuquerque, NM
	 	 	NM	 
	 	Signature Square I

	 	 	Signature Square SPE, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Beachwood, OH
	 	 	OH	 
	 	Signature Square II

	 	 	Signature Square SPE, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Beachwood, OH
	 	 	OH	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	COMMERCIAL GROUP
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	RETAIL CENTERS
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 

	 	 	Fee Owner or Ground Lessee
	 	 	FCRPC Subsidiary
	 	 	Location
	 	 	State	 
	 	Consolidated Regional Malls
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Antelope Valley Mall

	 	 	Antelope Valley Mall, LLC
	 	 	Forest City Antelope Valley, Inc.
	 	 	Palmdale, CA
	 	 	CA	 
	 	Ballston Common Mall

	 	 	FC Ballston Common, LLC
	 	 	Ballston Development Corporation
	 	 	Arlington, VA
	 	 	VA	 
	 	Galleria at Sunset

	 	 	BPC Henderson, LLC
	 	 	Forest City N.Y. Group, Inc.
	 	 	Henderson, NV
	 	 	NV	 
	 	Mall at Robinson

	 	 	Robinson Mall — JCP Associates, LTD.
	 	 	Forest City Robinson Mall, Inc.
	 	 	Pittsburgh, PA
	 	 	PA	 
	 	Mall at Stonecrest

	 	 	Stonecrest Mall SPE, LLC
	 	 	F.C. Stonecrest Mall, Inc.
	 	 	Atlanta, GA
	 	 	GA	 
	 	Northfield at Stapleton

	 	 	Stapleton North Town, LLC
	 	 	WBA Woodlake, L.L.C. and Forest City Residential Group, Inc.
	 	 	Denver, CO
	 	 	CO	 
	 	Orchard Town Center

	 	 	FC Orchard Town Center, Inc.
	 	 	Forest City Commercial Group, Inc.
	 	 	Westminster, CO
	 	 	CO	 
	 	Promenade Bolingbrook

	 	 	(a) FC Janes Park, LLC, (b) Forest City
Bolingbrook, LLC. (c) FC Bolingbrook, Inc.
	 	 	(a) FC Manhattan Inc. (b) Forest City Commercial Group, Inc.
(c) Forest City Commercial Group, Inc.
	 	 	Bolingbrook, IL
	 	 	IL	 
	 	Promenade in Temecula

	 	 	Temecula Towne Center Associates, L.P.
	 	 	F.C. Temecula, Inc.
	 	 	Temecula, CA
	 	 	CA	 
	 	Ridge Hill

	 	 	FC Yonkers Associates, LLC
	 	 	F.C. Member, Inc.
	 	 	Yonkers, NY
	 	 	NY	 
	 	Shops at Wiregrass

	 	 	Goodforest LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Tampa, FL
	 	 	FL	 
	 	Short Pump Town Center

	 	 	Short Pump Town Center, LLC
	 	 	F.C. Short Pump Land Investment, Inc.
	 	 	Richmond, VA
	 	 	VA	 
	 	Simi Valley Town Center

	 	 	Simi Valley Mall, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Simi Valley, CA
	 	 	CA	 
	 	South Bay Galleria

	 	 	South Bay Center SPE, LLC
	 	 	Tusar, Inc. GP and Forest City Rental Properties Corporation LP
	 	 	Redondo Beach, CA
	 	 	CA	 
	 	Victoria Gardens

	 	 	(a) Victoria Garden Mall, LLC (b) Rancho BP, LLC
	 	 	(a) Chapel Hill Mall, Ltd (b) Forest City Commercial Group, Inc.
	 	 	Rancho Cucamonga, CA
	 	 	CA	 
	 	Village at Gulfstream

	 	 	The Village at Gulfstream Park, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Hallendale, FL
	 	 	FL	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Consolidated Specialty Retail
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	42nd Street

	 	 	FC 42nd Street Associates, L.P.
	 	 	Forest City Commercial Holdings, Inc., Forest City 42nd Street,
Inc. and Forest City Master Associates III, LLC*
	 	 	Manhattan, NY
	 	 	NY	 
	 	Atlantic Center

	 	 	Atlantic Center Fort Greene
Associates, L.P.
	 	 	Atlantic Center Fort Greene, Inc., Forest City Commercial Holdings, Inc. and
Forest City Master Associates III, LLC*
	 	 	Brooklyn, NY
	 	 	NY	 
	 

 

 

Exhibit B to Pledge Agreement

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Atlantic Center Site V

	 	 	FC Pacific Associates, LLC
	 	 	FC Pacific, Inc., Forest City Commercial Holdings, Inc. and Forest City Master
Associates III, LLC*
	 	 	Brooklyn, NY
	 	 	NY	 
	 	Atlantic Terminal

	 	 	FC Hanson Associates, LLC
	 	 	FC Member, Inc. and Forest City Master Associates III, LLC*
	 	 	Brooklyn, NY
	 	 	NY	 
	 	Avenue at Tower City Center

	 	 	Tower City Avenue, LLC
	 	 	T.C. Avenue, Inc., Tower City Land Corp. and Tower City Properties Ltd.
	 	 	Cleveland, OH
	 	 	OH	 
	 	Brooklyn Commons

	 	 	FC Gowanus Associates, LLC
	 	 	F.C. Member, Inc. and Forest City Master Associates III, LLC*
	 	 	Brooklyn, NY
	 	 	NY	 
	 	Bruckner Boulevard

	 	 	FC Bruckner Associates, L.P.
	 	 	Forest City Bruckner, Inc., Forest City Commercial Holdings, Inc. and Forest
City Master Associates III, LLC*
	 	 	Bronx, NY
	 	 	NY	 
	 	Columbia Park Center

	 	 	FC/Treeco Columbia Park, LLC
	 	 	F.C. Member, Inc., Forest City Commercial Holdings, Inc. and Forest City Master
Associates III, LLC*
	 	 	North Bergen, NJ
	 	 	NJ	 
	 	Court Street

	 	 	FC Court Street Associates, LLC
	 	 	F.C. Member, Inc., Forest City Commercial Holdings, Inc. and Forest City Master
Associates III, LLC*
	 	 	Brooklyn, NY
	 	 	NY	 
	 	Eastchester

	 	 	FC Castle Center Associates
II, LLC
	 	 	F.C. Member Inc., Forest City Commercial Holdings, Inc. and *Forest City
Commercial Holdings, Inc.
	 	 	Bronx, NY
	 	 	NY	 
	 	Forest Avenue

	 	 	FC Forest Avenue Associates,
LLC
	 	 	FC Member Inc., Forest City Commercial Holdings, Inc. and Forest City Master
Associates III, LLC*
	 	 	Staten Island, NY
	 	 	NY	 
	 	Gun Hill Road

	 	 	(a) FC Ely Associates, L.P.
(b) FC Waring Associates, L.P.
	 	 	(a) Forest City Ely Inc., Forest City Commercial Holdings, Inc. and Forest City
Master Associates III, LLC* (b) Forest City Waring Inc., Forest City Commercial
Holdings, Inc. and Forest City Master Associates III, LLC*
	 	 	Bronx, NY
	 	 	NY	 
	 	Harlem Center

	 	 	Harlem Center, LLC
	 	 	Forest City Commercial Holdings, Inc. and Forest City Master Associates III, LLC*
	 	 	Manhattan, NY
	 	 	NY	 
	 	Kaufman Studios

	 	 	FC Steinway Street Associates
II, LLC
	 	 	F.C. Member Inc., Forest City Commercial Holdings, Inc. and Forest City Master
Associates III, LLC*
	 	 	Queens, NY
	 	 	NY	 
	 	Market at Tobacco Row

	 	 	Forest City Grocery, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Richmond, VA
	 	 	VA	 
	 	Northern Boulevard

	 	 	FC Northern Associates II, LLC
	 	 	FC Northern Boulevard, Inc., Forest City Commercial Holdings, Inc. and Forest
City Master Associates III, LLC*
	 	 	Queens, NY
	 	 	NY	 
	 	Quartermaster Plaza

	 	 	(a) FC Quartermaster
Associates L.P. (b) FC
Quartermaster Associates II,
L.P. (c) FC Quartermaster
Associates III, L.P.
	 	 	(a) Forest City Commercial Holdings, Inc. and *Forest City Commercial Holdings,
Inc. (b) Forest City Commercial Holdings, Inc. and Forest City Master
Associates III, LLC* (c) Forest City Commercial Holdings, Inc. and Forest City
Master Associates III, LLC*
	 	 	Philadelphia, PA
	 	 	PA	 
	 	Quebec Square

	 	 	Quebec Square SPE, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Denver, CO
	 	 	CO	 
	 	Queens Place

	 	 	FC Queens Place Associates, LLC
	 	 	Forest City Bluffside Corporation, Forest City Residential Group, Inc. and
Forest City Master Associates III, LLC*
	 	 	Queens, NY
	 	 	NY	 
	 	Richmond Avenue

	 	 	FC Richmond Associates, L.P.
	 	 	Forest City Richmond Inc., Forest City Commercial Holdings, and Forest City
Master Associates III, LLC*
	 	 	Staten Island, NY
	 	 	NY	 
	 	Saddle Rock Village

	 	 	Saddle Rock PC, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Aurora, CO
	 	 	CO	 
	 	South Bay Southern Center

	 	 	South Bay Associates SPE, LLC
	 	 	Forest Bay, Inc. and Forest City International Plaza Corporation
	 	 	Redondo Beach, CA
	 	 	CA	 
	 	Station Square

	 	 	Forest City Station Square
Associates, Freight House
Operating Ltd. And Forest City
Bessemer Court Associates
	 	 	(a) FC Pittsburgh Inc. and Forest City Station Square, Inc. (b) Forest City
Commercial Group, Inc. (c) FC Pittsburgh, Inc. and Forest City Station Square,
Inc.
	 	 	Pittsburgh, PA
	 	 	PA	 
	 	White Oak Village

	 	 	Lamburnum Investment, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Richmond, VA
	 	 	VA	 
	 	Woodbridge Crossing

	 	 	FC Woodbridge Crossing, LLC
	 	 	F.C. Member, Inc. and Forest City Master Associates III, LLC*
	 	 	Woodbridge, NJ
	 	 	NJ	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	COMMERCIAL GROUP
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	RETAIL CENTERS
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	Fee Owner or Ground Lessee
	 	 	FCRPC Subsidiary
	 	 	Location
	 	 	State	 
	 	Unconsolidated Regional Malls	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Boulevard Mall

	 	 	Boulevard Mall SPE, LLC
	 	 	FCRPC/Niasher, Inc. and Forest City Rental Properties Corporation
	 	 	Amherst, NY
	 	 	NY	 
	 	Charleston Town Center

	 	 	Charleston Town Center SPE, LLC
	 	 	In Town Shopping Center, Inc.
	 	 	Charleston, WV
	 	 	WV	 
	 	San Francisco Centre

	 	 	Emporium Mall LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	San Francisco, CA
	 	 	CA	 
	 	Unconsolidated Specialty
Retail Centers
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

 

 

Exhibit B to Pledge Agreement

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	East River Plaza

	 	 	Tiago Holdings, LLC
	 	 	F.C. Member, Inc.
	 	 	Manhattan, NY
	 	 	NY	 
	 	Golden Gate

	 	 	Golden Gate Shopping Center LTD
	 	 	Golden Gate Shopping Center, Ltd.
	 	 	Mayfield Hts., OH
	 	 	OH	 
	 	Marketplace at Riverpark

	 	 	CCRP, a California limited partnership
	 	 	Forest City Commercial Group, Inc.
	 	 	Fresno, CA
	 	 	CA	 
	 	Metreon

	 	 	(a) FC Metreon, LLC and (b) Westfield Metreon,
LLC
	 	 	(a) Forest City Commercial Group, Inc.
	 	 	San Francisco, CA
	 	 	CA	 
	 	Plaza at Robinson Town Center

	 	 	Park Associates
	 	 	Forest City Park Manor, Inc.
	 	 	Pittsburgh, PA
	 	 	PA	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	COMMERCIAL GROUP
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	HOTELS
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 

	 	 	Fee Owner or Ground Lessee
	 	 	FCRPC Subsidiary
	 	 	Location
	 	 	State	 
	 	Consolidated Hotels
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Charleston Marriott

	 	 	Charleston Marriott SPE, LLC
	 	 	In Town Hotels, Inc.
	 	 	Charleston, WV
	 	 	WV	 
	 	Ritz-Carlton, Cleveland

	 	 	DCFC, LLC
	 	 	Forest City Commercial Group, Inc.
	 	 	Cleveland, OH
	 	 	OH	 
	 	Sheraton Station Square

	 	 	Forest City San Vincente Corp.
	 	 	Forest City San Vincente Corp.
	 	 	Pittsburgh, PA
	 	 	PA	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Unconsolidated Hotels
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Courtyard by Marriott

	 	 	Millender Center Associates Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Detroit, MI
	 	 	MI	 
	 	Westin Convention Center

	 	 	Liberty Center Venture
	 	 	F.C. Liberty Inc.
	 	 	Pittsburgh, PA
	 	 	PA	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	RESIDENTIAL GROUP
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	APARTMENTS
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 

	 	 	Fee Owner or Ground Lessee
	 	 	FCRPC Subsidiary
	 	 	Location
	 	 	State	 
	 	Consolidated Apartments
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	100 Landsdowne Street

	 	 	FC 100 Landsdowne Street, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Cambridge, MA
	 	 	MA	 
	 	101 San Fernando

	 	 	FC Third Street Associates, L.P.
	 	 	Forest City Residential Group, Inc.
	 	 	San Jose, CA
	 	 	CA	 
	 	1251 S. Michigan

	 	 	FC Central Station Senior, LLC
	 	 	Forest City Central Station, Inc. and Forest City Residential Group, Inc.
	 	 	Chicago, IL
	 	 	IL	 
	 	80 DeKalb

	 	 	FC 80 DeKalb Associates, LLC
	 	 	Forest City Fulton Street Building, Inc. and Forest City Master Associates
III, LLC*
	 	 	Brooklyn. NY
	 	 	NY	 
	 	American Cigar Company

	 	 	F.C. Philip Morris L.P.
	 	 	Forest City Residential Group, Inc.
	 	 	Richmond, VA
	 	 	VA	 
	 	Ashton Mill

	 	 	FC Ashton Mill Lessor, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Cumberland, RI
	 	 	RI	 
	 	Autumn Ridge

	 	 	Autumn Ridge Associates Limited Dividend
Housing Association
	 	 	Forest City Residential Group, Inc.
	 	 	Sterling Heights, MI
	 	 	MI	 
	 	Beekman

	 	 	FC Beekman Associates, LLC
	 	 	Forest City Residential Group, Inc. and Forest City Commercial Holdings, Inc
	 	 	. Manhattan, NY
	 	 	NY	 
	 	Botanica on the Green (East
29th Ave Town Center)

	 	 	FC 29th Avenue Town Center, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Denver, CO
	 	 	CO	 
	 	Botanica II

	 	 	Botanica II, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Denver, CO
	 	 	CO	 
	 	Bowin

	 	 	Bowin Place Associates Limited Dividend
Housing Association Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Detroit, MI
	 	 	MI	 
	 	Cambridge Towers

	 	 	Cambridge Tower Associates Limited Dividend
Housing Association
	 	 	Forest City Residential Group, Inc.
	 	 	Detroit, MI
	 	 	MI	 
	 	Cameron Kinney

	 	 	FC Cameron Kinney, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Richmond, VA
	 	 	VA	 
	 	Consolidated-Carolina

	 	 	F.C. Consolidated Lessor, L.L.C.
	 	 	Forest City Residential Group, Inc.
	 	 	Richmond, VA
	 	 	VA	 
	 	Coraopolis Towers

	 	 	Coraopolis Towers
	 	 	Forest City Residential Group, Inc.
	 	 	Coraopolis, PA
	 	 	PA	 
	 

 

 

 
Exhibit B to Pledge Agreement

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Crescent Flats (East 29th Avenue Town Center)

	 	 	FC 29th Avenue Town Center, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Denver, CO
	 	 	CO	 
	 	Cutter’s Ridge at Tobacco Row

	 	 	Tobacco Row TownHouses, LLC, F/K/A Tobacco Row
Land II, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Richmond, VA
	 	 	VA	 
	 	Donora Towers

	 	 	Donora Towers
	 	 	Forest City Residential Group, Inc.
	 	 	Donora, PA
	 	 	PA	 
	 	Drake

	 	 	F.C. Drake Associates, L.P.
	 	 	Forest City Residential Group, Inc.
	 	 	Philadelphia, PA
	 	 	PA	 
	 	Easthaven at the Village

	 	 	Village Green of Beachwood Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Beachwood, OH
	 	 	OH	 
	 	Emerald Palms

	 	 	Emerald Palms Phase II, LLLP
	 	 	Forest City Residential Group, Inc.
	 	 	Miami, FL
	 	 	FL	 
	 	Grand

	 	 	Wisconsin Park Associates Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	North Bethesda, MD
	 	 	MD	 
	 	Grand Lowry Lofts

	 	 	National Grand Lowry Lofts Associates, LP
	 	 	Forest City Residential Group, Inc.
	 	 	Denver, CO
	 	 	CO	 
	 	Grove

	 	 	Grove Associates
	 	 	Forest City Residential Group, Inc.
	 	 	Ontario, CA
	 	 	CA	 
	 	Hamel Mill Lofts

	 	 	FC HH F/K/A FC Haverhill, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Haverhill, MA
	 	 	MA	 
	 	Heritage

	 	 	FC Cortez Hill Associates, L.P.
	 	 	Forest City Residential Group, Inc.
	 	 	San Diego, CA
	 	 	CA	 
	 	Independence Place I

	 	 	Independence Place Associates, L.L.C.
	 	 	Forest City Rental Properties Corporation
	 	 	Parma Hts., OH
	 	 	OH	 
	 	Independence Place II

	 	 	Parmatown Woods, LTD
	 	 	Forest City Residential Group, Inc.
	 	 	Parma Hts., OH
	 	 	OH	 
	 	Kennedy Biscuit Lofts

	 	 	Kennedy Lofts Associates Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Cambridge, MA
	 	 	MA	 
	 	Knolls

	 	 	F.C. Orange Associates, L.P.
	 	 	Forest City Residential Group, Inc.
	 	 	Orange, CA
	 	 	CA	 
	 	Lakeland

	 	 	Lakeland Place Associates Limited Dividend Housing
Association Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Waterford, MI
	 	 	MI	 
	 	Lenox Club

	 	 	Lenox Club Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Arlington, VA
	 	 	VA	 
	 	Lenox Park

	 	 	F-C Harris Silver Spring Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Silver Spring, MD
	 	 	MD	 
	 	Loft 23

	 	 	FC 23 Sidney Street LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Cambridge, MA
	 	 	MA	 
	 	Lofts at 1835 Arch

	 	 	FC Bell Associates, L.P.
	 	 	Forest City Residential Group, Inc.
	 	 	Philadelphia, PA
	 	 	PA	 
	 	Lucky Strike

	 	 	FC Lucky Strike Lessor, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Richmond, VA
	 	 	VA	 
	 	Mercantile Place on Main (formerly Dallas
Mercantile)

	 	 	FC Merc Complex, L.P.
	 	 	Forest City Residential Group, Inc.
	 	 	Dallas, TX
	 	 	TX	 
	 	Metro 417

	 	 	FC Subway Terminal Lessor, L.P.
	 	 	Forest City Residential Group, Inc.
	 	 	Los Angeles, CA
	 	 	CA	 
	 	Metropolitan

	 	 	Forest City Southpark Two, Inc.
	 	 	Forest City Residential Group, Inc.
	 	 	Los Angeles, CA
	 	 	CA	 
	 	Midtown Towers

	 	 	F.C. Midtown, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Parma, OH
	 	 	OH	 
	 	Museum Towers

	 	 	Franklin Town Towers Associates
	 	 	Forest City Residential Group, Inc.
	 	 	Philadelphia, PA
	 	 	PA	 
	 	North Church Towers

	 	 	North Church Towers I, LLC and North Church Towers
II, Ltd.
	 	 	Forest City Residential Group, Inc.
	 	 	Parma Heights
	 	 	OH	 
	 	Oceanpointe Towers

	 	 	Ocean View Towers Associates Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Long Branch, NJ
	 	 	NJ	 
	 	One Franklintown

	 	 	Forest City Franklin Town Corp.
	 	 	Forest City Residential Group, Inc.
	 	 	Philadelphia, PA
	 	 	PA	 
	 	Parmatown Towers and Gardens

	 	 	F.C. Parmatown Associates, L.P.
	 	 	Forest City Residential Group, Inc.
	 	 	Parma, OH
	 	 	OH	 
	 	Pavilion

	 	 	F.C. Harris Pavilion Apartments Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Chicago, IL
	 	 	IL	 
	 	Plymouth Square

	 	 	Plymouth Square Limited Dividend Housing
Association
	 	 	Forest City Residential Group, Inc.
	 	 	Detroit, MI
	 	 	MI	 
	 	Presidio

	 	 	FC Presidio PHSH Lessor, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	San Francisco, CA
	 	 	CA	 
	 	Queenswood

	 	 	Queenswood Associates, L.P.
	 	 	Forest City Residential Group, Inc. and Forest City Master Associates III, LLC*
	 	 	Corona, NY
	 	 	NY	 
	 	Sky55

	 	 	FC Central Station Residential, LLC
	 	 	Forest City Central Station, Inc. and Forest City Residential Group, Inc.
	 	 	Chicago, IL
	 	 	IL	 
	 	Southfield

	 	 	Southfield Partners Investors, LLC
	 	 	Center Courtland, Inc.
	 	 	Whitemarsh, MD
	 	 	MD	 
	 	Village Center

	 	 	Village Center Associates Limited Dividend Housing
Association
	 	 	Forest City Residential Group, Inc.
	 	 	Detroit, MI
	 	 	MI	 
	 	Wilson Building

	 	 	FC WP Building, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Dallas, TX
	 	 	TX	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Consolidated Supported 

Living Apartments
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Forest Trace

	 	 	SG Forest Trace SPE, LLC
	 	 	Forest City Bluffside Corporation, Forest City Residential Group, Inc. and
Forest City Master Associates III, LLC*
	 	 	Lauderhill, FL
	 	 	FL	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	APARTMENTS (continued)
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

 

 

 
Exhibit B to Pledge Agreement

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 

	 	 	Fee Owner or Ground Lessee
	 	 	FCRPC Subsidiary
	 	 	Location
	 	 	State	 
	 	Unconsolidated
Apartments
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	91 Sidney

	 	 	FC 91 Sidney Street, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Cambridge, MA
	 	 	MA	 
	 	Arbor Glen

	 	 	Twinsburg Residential Associates
	 	 	Forest City Residential Group, Inc.
	 	 	Twinsburg, OH
	 	 	OH	 
	 	Barrington Place

	 	 	Barrington Apartments, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Raleigh, NC
	 	 	NC	 
	 	Bayside Village

	 	 	Bayside Village Associates
	 	 	Forest City Residential Group, Inc.
	 	 	San Francisco, CA
	 	 	CA	 
	 	Big Creek

	 	 	Big Creek Apartments I, L.L.C., Big Creek
Apartments II, LLC and Big Creek Apartments, Ltd.
	 	 	Forest City Residential Group, Inc.
	 	 	Parma Hts., OH
	 	 	OH	 
	 	Brookpark Place

	 	 	Brookpark Place Associates
	 	 	Forest City Residential Group, Inc.
	 	 	Wheeling, WV
	 	 	WV	 
	 	Brookview Place

	 	 	Brookview Place Associates, Ltd.
	 	 	Forest City Residential Group, Inc.
	 	 	Dayton, OH
	 	 	OH	 
	 	Burton Place

	 	 	Burton Elderly Limited Dividend Housing
Association Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Burton, MI
	 	 	MI	 
	 	Camelot

	 	 	Camelot Apartments, LLC
	 	 	Forest City Rental Properties Corporation
	 	 	Parma Hts., OH
	 	 	OH	 
	 	Carl D. Perkins

	 	 	Douglas Towers, LTD
	 	 	Forest City Residential Group, Inc.
	 	 	Pikeville, KY
	 	 	KY	 
	 	Cedar Place

	 	 	Cedarplace Associates Limited Dividend Housing

Associates Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Lansing, MI
	 	 	MI	 
	 	Cherry Tree

	 	 	Cherry Tree Village
	 	 	Forest City Residential Group, Inc.
	 	 	Strongsville, OH
	 	 	OH	 
	 	Chestnut Lake

	 	 	Chestnut Lake Apartments Limited Partnership
	 	 	Forest City Rental Properties Corporation and Forest City Residential Group, Inc.
	 	 	Strongsville, OH
	 	 	OH	 
	 	Clarkwood

	 	 	Clarkwood Apartments Ltd.
	 	 	Forest City Rental Properties Corporation
	 	 	Warrensville Hts.,
OH
	 	 	OH	 
	 	Cobblestone Court Apartments

	 	 	(1) Cobblestone Court Apartments, LLC and (2)
Cobblestone Court Apartments I, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Painesville, OH
	 	 	OH	 
	 	Colonial Grand

	 	 	Colonial Grand, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Tampa, FL
	 	 	FL	 
	 	Connellsville Towers

	 	 	Connellsville Associates
	 	 	Forest City Residential Group, Inc.
	 	 	Connellsville, PA
	 	 	PA	 
	 	Coppertree

	 	 	Park Plaza Apartments, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Mayfield Hts., OH
	 	 	OH	 
	 	Deer Run

	 	 	Deer Run Apartments Limited
	 	 	Forest City Residential Group, Inc. and Forest City Rental Properties Corporation
	 	 	Twinsburg, OH
	 	 	OH	 
	 	Eaton Ridge

	 	 	Eaton Ridge, Ltd.
	 	 	Doesn’t sit under Forest City Rental Properties Corporation
	 	 	Sagamore Hills, OH
	 	 	OH	 
	 	Farmington Place

	 	 	FC Farmington Place, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Farmington, MI
	 	 	MI	 
	 	Fenimore Court

	 	 	Fenimore Limited Dividend Housing Association
	 	 	Forest City Residential Group, Inc.
	 	 	Detroit, MI
	 	 	MI	 
	 	Fort Lincoln II

	 	 	Fort Lincoln Senior Village II Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Washington, D.C.
	 	 	DC	 
	 	Fort Lincoln III and IV

	 	 	Fort Lincoln Senior Village III Limited Partnership
	 	 	Forest City Rental Properties Corporation
	 	 	Washington, D.C.
	 	 	DC	 
	 	Frenchtown Place

	 	 	Frenchtown Place Associates Limited Dividend
Housing Association
	 	 	Forest City Residential Group, Inc.
	 	 	Monroe, MI
	 	 	MI	 
	 	Glendora Gardens

	 	 	Glendora Gardens Associates
	 	 	Forest City Residential Group, Inc.
	 	 	Glendora, CA
	 	 	CA	 
	 	Granada Gardens

	 	 	Granada Apartments Ltd.
	 	 	Forest City Rental Properties Corporation
	 	 	Warrensville Hts.,
OH
	 	 	OH	 
	 	Hamptons

	 	 	FCRP-Hamptons, LLC
	 	 	Forest City Rental Properties Corporation
	 	 	Beachwood, OH
	 	 	OH	 
	 	Hunter’s Hollow

	 	 	Hunters Hollow Apartments, L.L.C.
	 	 	Forest City Residential Group, Inc.
	 	 	Strongsville, OH
	 	 	OH	 
	 	Legacy Arboretum

	 	 	Echo Forest, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Charlotte, NC
	 	 	NC	 
	 	Legacy Crossroads

	 	 	The Apartments at Crossroads, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Cary, NC
	 	 	NC	 
	 	Liberty Hills

	 	 	Liberty Hill Apartments I, Ltd.
	 	 	Forest City Rental Properties Corporation
	 	 	Solon, OH
	 	 	OH	 
	 	Metropolitan Lofts

	 	 	FC Metropolitan Lofts Associates, L.P.
	 	 	Forest City Residential Group, Inc.
	 	 	Los Angeles, CA
	 	 	CA	 
	 	Millender Center

	 	 	Millender Center Associates Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Detroit, MI
	 	 	MI	 
	 	Miramar Towers

	 	 	Miramar Towers, a California limited partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Los Angeles, CA
	 	 	CA	 
	 	Newport Landing

	 	 	Newport Landing
	 	 	Forest City Residential Group, Inc.
	 	 	Coventry Township,
OH
	 	 	OH	 
	 	Noble Towers

	 	 	Noble Towers Associates
	 	 	Forest City Residential Group, Inc.
	 	 	Pittsburgh, PA
	 	 	PA	 
	 	North Port Village

	 	 	North Port Associates Limited Dividend Housing
Association
	 	 	Forest City Residential Group, Inc.
	 	 	Port Huron, MI
	 	 	MI	 
	 	New Kensington Towers (Citizen’s Plaza)

	 	 	New Kensington Towers Associates
	 	 	Forest City Residential Group, Inc.
	 	 	New Kensington, PA
	 	 	PA	 
	 	Panorama Towers (Casa Panorama)

	 	 	HAI/FCD Partnership
	 	 	Forest City Rental Properties Corporation
	 	 	Panorama City, CA
	 	 	CA	 
	 	Park Place Towers

	 	 	Park Place Tower Associates Limited Dividend
Housing Association
	 	 	Forest City Residential Group, Inc.
	 	 	Mt. Clemens, MI
	 	 	MI	 
	 

 

 

 
Exhibit B to Pledge Agreement

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Parkwood Village

	 	 	Village in the Park
	 	 	Forest City Residential Group, Inc.
	 	 	Brunswick, OH
	 	 	OH	 
	 	Pebble Creek

	 	 	Pebble Creek Apartments, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Twinsburg, OH
	 	 	OH	 
	 	Perrytown

	 	 	Perrytown Place Associates, a limited partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Pittsburgh, PA
	 	 	PA	 
	 	Pine Grove Manor

	 	 	Pine Grove Manor Associates Limited Dividend
Housing Association
	 	 	Forest City Residential Group, Inc.
	 	 	Muskegon Township,
MI
	 	 	MI	 
	 	Pine Ridge Valley

	 	 	(1) Pine Ridge Valley Apartments-East, LLC, (2)
Pine Ridge Apartments Co., II, Ltd., (3) Pine
Ridge Apartments Co. Limited Partnership and (4)
Pine Ridge Valley Apartments, Building H, LLC
	 	 	(1) Forest City Rental Properties Corporation, (2) Forest City Rental
Properties Corporation, (3) Forest City Rental Properties Corporation and
(4) Forest City Rental Properties Corporation
	 	 	Willoughby Hills, OH
	 	 	OH	 
	 	Potomac Heights Village

	 	 	Potomac Village Associates Limited Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	Keyser, WV
	 	 	WV	 
	 	Riverside Towers

	 	 	Riverside Towers, Ltd.
	 	 	Forest City Residential Group, Inc.
	 	 	Coshocton, OH
	 	 	OH	 
	 	Settler’s Landing at Greentree

	 	 	Settler’s Landing at Greentree I, LLC and
Settlers Landing at Greentree, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Streetsboro, OH
	 	 	OH	 
	 	Shippan Avenue

	 	 	Forest City Sound View Associates
	 	 	Forest City Residential Group, Inc. and Forest City Rental Properties
Corporation
	 	 	Stamford, CT
	 	 	CT	 
	 	St. Mary’s Villa

	 	 	St. Mary’s Villa Associates
	 	 	Forest City Residential Group, Inc.
	 	 	Newark, NJ
	 	 	NJ	 
	 	Stratford Crossing

	 	 	Stratford Crossings, Ltd.
	 	 	Forest City Residential Group, Inc.
	 	 	Wadsworth, OH
	 	 	OH	 
	 	Surfside Towers

	 	 	Surfside Apartments, LLC
	 	 	Forest City Residential Group, Inc. and Forest City Rental Properties
Corporation
	 	 	Eastlake, OH
	 	 	OH	 
	 	Sutton Landing

	 	 	Sutton Landing Apartments, Ltd.
	 	 	Forest City Residential Group, Inc.
	 	 	Brimfield, OH
	 	 	OH	 
	 	Tamarac

	 	 	Tamarac Apartments, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Willoughby, OH
	 	 	OH	 
	 	The Springs

	 	 	La Mesa Springs Associates, a California Limited
Partnership
	 	 	Forest City Residential Group, Inc.
	 	 	La Mesa, CA
	 	 	CA	 
	 	Tower 43 (Kent Tower 43)

	 	 	Kent Tower 43 Associates, Ltd.
	 	 	Forest City Residential Group, Inc.
	 	 	Kent, OH
	 	 	OH	 
	 	Towne Centre Place

	 	 	Towne Center Place Associates Limited Dividend
Housing Association
	 	 	Forest City Residential Group, Inc.
	 	 	Ypsilanti, MI
	 	 	MI	 
	 	Twin Lake Towers

	 	 	Twin Lake Towers Venture
	 	 	Forest City Rental Properties Corporation
	 	 	Denver, CO
	 	 	CO	 
	 	Uptown Apartments

	 	 	Uptown Housing Partners, LP
	 	 	Forest City Residential Group, Inc.
	 	 	Oakland, CA
	 	 	CA	 
	 	Village Square

	 	 	Williamsville Towers, L.P.
	 	 	Forest City Residential Group, Inc.
	 	 	Williamsville, NY
	 	 	NY	 
	 	Westwood Reserve

	 	 	Center Towers, Ltd.
	 	 	Forest City Residential Group, Inc.
	 	 	Tampa, FL
	 	 	FL	 
	 	Woodgate / Evergreen Farms

	 	 	Olmsted Farms, Ltd.
	 	 	Forest City Residential Group, Inc.
	 	 	Olmsted Township, OH
	 	 	OH	 
	 	Worth Street

	 	 	FC Foley Square Associates, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Manhattan, NY
	 	 	NY	 
	 	Ziegler Place

	 	 	FC Ziegler Place, LLC
	 	 	Forest City Rental Properties Corporation/Forest City Residential Group, Inc.
	 	 	Livonia, MI
	 	 	MI	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Unconsolidated Military Housing
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Air Force Academy

	 	 	Air Force Academy Military Communities, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Colorado Springs, CO
	 	 	CO	 
	 	Midwest Millington

	 	 	Midwest Family Housing, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Memphis, TN
	 	 	TN	 
	 	Navy Midwest

	 	 	Midwest Military Communities, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Chicago, IL
	 	 	IL	 
	 	Ohana Military Communities, Hawaii
Increment I

	 	 	Ohana Military Communities, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Honolulu, HI
	 	 	HI	 
	 	Ohana Military Communities, Hawaii
Increment II

	 	 	Ohana Military Communities, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Honolulu, HI
	 	 	HI	 
	 	Ohana Military Communities, Hawaii
Increment III

	 	 	Ohana Military Communities, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Honolulu, HI
	 	 	HI	 
	 	Ohana Military
Communities, Hawaii
Increment IV

	 	 	Ohana Military Communities, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Kaneohe, HI
	 	 	HI	 
	 	Pacific Northwest Communities

	 	 	Pacific Northwest Communities, LLC
	 	 	Forest City Residential Group, Inc.
	 	 	Seattle, WA
	 	 	WA	 
	 

 

 

Exhibit B to Pledge Agreement

 

			
	*	 	Forest City Master Associates, LLC (“Master III”) holds an interest in the property. Master III
has Class A Common Units held by Bruce C. Ratner or affiliates of Bruce C. Ratner and Class B
Common Units held by affiliates of Forest City Rental Properties Corporation. Forest City
Commercial Holdings, Inc., a subsidiary of Forest City Rental Properties Corporation, is the
largest holder of Class B Common Units and the managing member of Master III.

 

 

EXHIBIT “C”

PROMISSORY NOTE LEGEND

     “THIS NOTE HAS BEEN PLEDGED BY FOREST CITY RENTAL PROPERTIES CORPORATION (“PLEDGOR”) TO
KEYBANK NATIONAL ASSOCIATION, AS AGENT (“AGENT”), PURSUANT TO A PLEDGE AGREEMENT DATED JANUARY 29,
2010 (AS THE SAME MAY BE MODIFIED, AMENDED OR RESTATED FROM TIME TO TIME, THE “PLEDGE AGREEMENT”).
ALL AMOUNTS PAYABLE TO PLEDGOR PURSUANT TO THIS NOTE SHALL BE PAID AS REQUIRED BY THE PLEDGE
AGREEMENT.”

EXHIBIT “C” — Page 1

 

 

EXHIBIT “D”

(Description of “Debtor” and “Secured Party”)

	 	 	 
	A.

	 	Debtor:

	 

	 	 

	 

	 	FOREST CITY RENTAL PROPERTIES CORPORATION, a corporation organized under the laws of the
State of Ohio. Debtor has been using or operating under said name and identity or corporate
structure without change since September 5, 1972.

	 

	 	 

	 

	 	Other Names and Tradenames used within last five years: Forest City Development.

	 

	 	 

	 

	 	Location of all chief executive offices over last five years:

	 

	 	 

	 

	 	          50 Public Square, 1360 Terminal Tower, Cleveland, Ohio 44113-2233

	 

	 	 

	 

	 	Organizational Number: 388771

	 

	 	 

	 

	 	Federal Tax Identification Number: 34-1044033

	 

	 	 

	 

	 	 

	B.

	 	Secured Party:

	 

	 	 

	 

	 	KEYBANK NATIONAL ASSOCIATION, as Agent for the Banks.

EXHIBIT “D” — Page 1

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