Document:

exv4w4

Exhibit 4.4

EXECUTION COPY 

REGISTRATION RIGHTS AGREEMENT

June 14, 2011

Morgan Stanley & Co. LLC

PNC Capital Markets LLC

Merrill Lynch, Pierce, Fenner & Smith
Incorporated

RBS Securities Inc.

Citigroup Global Markets Inc.

	 	 	 

	As Representatives of the Initial Purchasers
	     c/o

	 	Morgan Stanley & Co. LLC
	 

	 	1585 Broadway
	 

	 	New York, New York 10036

Ladies and Gentlemen:

          Introductory. Arch Coal, Inc., a Delaware corporation (the “Company”), proposes to issue and
sell, in an initial placement (the “Initial Placement”) to certain purchasers (the “Initial
Purchasers”), upon the terms set forth in a Purchase Agreement dated June 8, 2011 (the “Purchase
Agreement”), $1,000,000,000 aggregate principal amount of the Company’s 7.000% Senior Notes due
2019 (the “2019 Notes”) and $1,000,000,000 aggregate principal amount the Company’s 7.250% Senior
Notes due 2021 (the “2021 Notes”, together with the 2019 Notes, the “Notes”). The Notes will be
fully and unconditionally guaranteed as to payment of principal, premium if any, and interest (the
“Guarantees” and together with the Notes hereinafter referred to as the “Securities”) by certain
subsidiaries of the Company (the “Guarantors”) in accordance with the Indenture (as defined
herein). To induce the Initial Purchasers to enter into the Purchase Agreement and to satisfy a
condition of your obligations thereunder, each of the Company and the Guarantors, jointly and
severally, agrees with you for your benefit and the benefit of the holders from time to time of the
Securities (including the Initial Purchasers) (each a “Holder” and, together, the “Holders”), as
follows:

          1. Definitions. Capitalized terms used herein without definition shall have their
respective meanings set forth in the Purchase Agreement. As used in this Agreement, the following
capitalized defined terms shall have the following meanings:

          “Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations of the
Commission promulgated thereunder.

          “Affiliate” shall have the meaning specified in Rule 405 under the Act; and the terms
“controlling” and “controlled” shall have meanings correlative thereto.

          “Broker-Dealer” shall mean any broker or dealer registered as such under the Exchange Act.

 

 

          “Business Day” shall mean any day other than a Saturday, a Sunday or a legal holiday or a day
on which banking institutions or trust companies are authorized or obligated by law to close in New
York City.

          “Commission” shall mean the Securities and Exchange Commission.

          “Company” shall have the meaning set forth in the preamble hereto.

          “Deferral Period” shall have the meaning set forth in section 4(k)(ii) hereof.

          “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the Commission promulgated thereunder.

          “Exchange Offer Registration Period” shall mean the one-year period following the consummation
of the Registered Exchange Offer, exclusive of any period during which any stop order shall be in
effect suspending the effectiveness of the Exchange Offer Registration Statement.

          “Exchange Offer Registration Statement” shall mean a registration statement of each of the
Company and the Guarantors on an appropriate form under the Act with respect to the Registered
Exchange Offer, all amendments and supplements to such registration statement, including
post-effective amendments thereto, in each case including the Prospectus contained therein, all
exhibits thereto and all material incorporated by reference therein.

          “Exchanging Dealer” shall mean any Holder (which may include any Initial Purchaser) that is a
Broker-Dealer and elects to exchange for New Securities any Securities that it acquired for its own
account as a result of market-making activities or other trading activities (but not directly from
any Guarantor or any Affiliate of any Guarantor) for New Securities.

          “FINRA Rules” shall mean the Conduct Rules and the By-Laws of the Financial Industry
Regulatory Authority, Inc.

          “Freely Transferable” shall mean a Security that at any time of determination (i) may be
transferred in accordance with Rule 144 by a person that is not an “affiliate” (as defined in Rule
144) of the Company where no conditions under Rule 144 are then applicable (other than the holding
period requirement of paragraph (d) of Rule 144 so long as such holding period requirement is
satisfied at such time of determination) and (ii) does not bear any restrictive legends relating to
the Act.

          “Free Writing Prospectus” shall mean each free writing prospectus (as defined in Rule 433
under the Act) prepared by or on behalf of the Company or the Guarantors or used or referred to by
the Company or the Guarantors in connection with the sale of the Securities or the New Securities.

          “Guarantee” shall have the meaning set forth in the preamble hereto.

          “Guarantors” shall have the meaning set forth in the preamble hereto.

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          “Holder” shall have the meaning set forth in the preamble hereto.

          “Indenture” shall mean the indenture relating to the Securities, dated as of June 14, 2011,
among the Company, each of the Guarantors and UMB Bank National Association, as trustee, as the
same may be amended from time to time in accordance with the terms thereof.

          “Initial Placement” shall have the meaning set forth in the preamble hereto.

          “Initial Purchaser” shall have the meaning set forth in the preamble hereto.

          “Losses” shall have the meaning set forth in Section 7(d) hereof.

          “Majority Holders” shall mean, on any date, Holders of a majority of the aggregate principal
amount of outstanding Securities and New Securities registered under a Registration Statement.

          “Managing Underwriters” shall mean the investment bank or investment banks and manager or
managers that administer an underwritten offering, if any, under a Registration Statement.

          “New Securities” shall mean debt securities of the Company identical in all material respects
to the Securities (except that the interest rate step-up provisions and the transfer restrictions
shall be modified or eliminated, as appropriate) and to be issued under the Indenture or the New
Securities Indenture.

          “New Securities Indenture” shall mean an indenture among the Company, each of the Guarantors
and the New Securities Trustee, identical in all material respects to the Indenture (except that
the interest rate step-up provisions will be modified or eliminated, as appropriate), which may be
the Indenture if in the terms thereof appropriate provision is made for the New Securities.

          “New Securities Trustee” shall mean a bank or trust company reasonably satisfactory to the
Initial Purchasers, as trustee with respect to the New Securities under the New Securities
Indenture.

          “Notes” shall have the meaning set forth in the preamble hereto.

          “Offering Memorandum” shall have the meaning set forth in the Purchase Agreement.

          “Person” shall mean an individual, partnership, limited liability company, corporation, trust
or unincorporated organization, or a government or agency or political subdivision thereof.

          “Prospectus” shall mean the prospectus included in any Registration Statement (including,
without limitation, a prospectus that discloses information previously omitted from a prospectus
filed as part of an effective registration statement in reliance upon Rule 430A under

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the Act), as amended or supplemented by any prospectus supplement, with respect to the terms
of the offering of any portion of the Securities or the New Securities covered by such
Registration Statement, and all amendments and supplements thereto and all material incorporated by
reference therein.

          “Purchase Agreement” shall have the meaning set forth in the preamble hereto.

          “Registered Exchange Offer” shall mean the proposed offer of the Company and the Guarantors to
issue and deliver to the Holders of the Securities that are not prohibited by any law or policy of
the Commission from participating in such offer, in exchange for the Securities, a like aggregate
principal amount of the New Securities.

          “Registration Statement” shall mean any Exchange Offer Registration Statement or Shelf
Registration Statement that covers any of the Securities or the New Securities pursuant to the
provisions of this Agreement, any amendments and supplements to such registration statement,
including post-effective amendments (in each case including the Prospectus contained therein), all
exhibits thereto and all material incorporated by reference therein.

          “Rule 144” shall mean Rule 144 under the Act.

          “Securities” shall have the meaning set forth in the preamble hereto.

          “Shelf Registration” shall mean a registration effected pursuant to Section 3 hereof.

          “Shelf Registration Period” has the meaning set forth in Section 3(b) hereof.

          “Shelf Registration Statement” shall mean a “shelf” registration statement of the Company and
the Guarantors pursuant to the provisions of Section 3 hereof which covers some or all of the
Securities or New Securities, as applicable, on an appropriate form under Rule 415 under the Act,
or any similar rule that may be adopted by the Commission, amendments and supplements to such
registration statement, including post-effective amendments, in each case including the Prospectus
contained therein, all exhibits thereto and all material incorporated by reference therein.

          “Trustee” shall mean the trustee with respect to the Securities and New Securities under the
Indenture.

          “underwriter” shall mean any underwriter of Securities in connection with an offering thereof
under a Shelf Registration Statement.

          2. Registered Exchange Offer (a) Unless prohibited under applicable law or
policy of the Commission, the Company and the Guarantors shall prepare and file with the Commission
an Exchange Offer Registration Statement with respect to the Registered Exchange Offer and use
their commercially reasonable efforts to cause the Exchange Offer Registration Statement to become
effective under the Act as soon as practicable.

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          (b) Upon the effectiveness of the Exchange Offer Registration Statement, the Company and
the Guarantors shall promptly commence the Registered Exchange Offer, it being
the objective of such Registered Exchange Offer to enable each Holder electing to exchange
Securities for New Securities (assuming that such Holder is not an Affiliate of the Company or any
Guarantor, acquires the New Securities in the ordinary course of such Holder’s business, has no
arrangements with any Person to participate in the distribution of the New Securities and is not
prohibited by any law or policy of the Commission from participating in the Registered Exchange
Offer) to trade such New Securities from and after their receipt without any limitation or
restrictions under the Act and without material restrictions under the securities laws of a
substantial proportion of the several states of the United States. The Company and the Guarantors
shall consummate such Registered Exchange Offer not later than 365 days of the date of the date
hereof (or if such 365th day is not a Business Day, the next succeeding Business Day).

          (c) In connection with the Registered Exchange Offer, the Company and the Guarantors
shall:

          (i) mail to each Holder a copy of the Prospectus forming part of the Exchange Offer
Registration Statement, together with an appropriate letter of transmittal and related
documents;

          (ii) keep the Registered Exchange Offer open for not less than 30 Business Days and
not more than 45 Business Days after the date notice thereof is mailed to the Holders (or,
in each case, longer if required by applicable law);

          (iii) use their commercially reasonable efforts to keep the Exchange Offer
Registration Statement continuously effective under the Act, supplemented and amended as
required under the Act in order to ensure that it is available for sales of New Securities
by Exchanging Dealers during the Exchange Offer Registration Period;

          (iv) utilize the services of a depositary for the Registered Exchange Offer with an
address in the Borough of Manhattan in New York City, which may be the Trustee, the New
Securities Trustee or an Affiliate of either of them;

          (v) permit Holders to withdraw tendered Securities (in accordance with the
procedures set forth in the Exchange Offer Registration Statement) at any time prior to the
close of business, New York time, on the last Business Day on which the Registered Exchange
Offer is open;

          (vi) prior to effectiveness of the Exchange Offer Registration Statement, provide a
supplemental letter to the Commission (A) stating that the Company and the Guarantors are
conducting the Registered Exchange Offer in reliance on the position of the Commission in
Exxon Capital Holdings Corporation (pub. avail. May 13, 1988) and Morgan Stanley
and Co., Inc. (pub. avail. June 5, 1991); and (B) including a representation that the
Company and each of the Guarantors has not entered into any arrangement or understanding
with any Person to distribute the New Securities to be received in the Registered Exchange
Offer and that, to the best of each of the Company’s and the Guarantors’ information and
belief, each Holder participating in the Registered

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Exchange Offer is acquiring the New Securities in the ordinary course of business and has no arrangement
or understanding with any Person to participate in the distribution of the New Securities; and

          (vii) comply in all material respects with all applicable laws.

          (d) As soon as practicable after the close of the Registered Exchange Offer, the Company
and the Guarantors shall:

          (i) accept for exchange all Securities tendered and not validly withdrawn pursuant
to the Registered Exchange Offer;

          (ii) deliver or cause to be delivered to the Trustee for cancellation in accordance
with Section 4(s) all Securities so accepted for exchange; and

          (iii) cause the New Securities Trustee promptly to authenticate and deliver to each
Holder of Securities a principal amount of New Securities equal to the principal amount of
the Securities of such Holder so accepted for exchange.

          (e) Each Holder hereby acknowledges and agrees that any Broker-Dealer and any such Holder
using the Registered Exchange Offer to participate in a distribution of the New Securities (x)
could not under Commission policy as in effect on the date of this Agreement rely on the position
of the Commission in Morgan Stanley and Co., Inc. (pub. avail. June 5, 1991) and Exxon
Capital Holdings Corporation (pub. avail. May 13, 1988), as interpreted in the Commission’s
letter to Shearman & Sterling dated July 2, 1993 and similar no-action letters; (y) must comply
with the registration and prospectus delivery requirements of the Act in connection with any
secondary resale transaction and (z) must be covered by an effective registration statement
containing the selling security holder information required by Item 507 or 508, as applicable, of
Regulation S-K under the Act if the resales are of New Securities obtained by such Holder in
exchange for Securities acquired by such Holder directly from the Company or the Guarantors or one
of their Affiliates. Accordingly, each Holder participating in the Registered Exchange Offer shall
be required to represent to the Company and the Guarantors that, at the time of the consummation of
the Registered Exchange Offer:

          (i) any New Securities received by such Holder will be acquired in the ordinary
course of business;

          (ii) such Holder will have no arrangement or understanding with any Person to
participate in the distribution of the Securities or the New Securities within the meaning
of the Act;

          (iii) such Holder is not an Affiliate of the Company or any Guarantor; and

          (iv) and such other representations as may be necessary under applicable Commission
rules, regulations or interpretations to render the use of Form S-4 or other appropriate
form under the Act available.

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          (f) If any Initial Purchaser determines that it is not eligible to participate in the
Registered Exchange Offer with respect to the exchange of Securities constituting any portion of an
unsold allotment, at the request of such Initial Purchaser, the Company and the Guarantors shall
issue and deliver to such Initial Purchaser or the Person purchasing New Securities registered
under a Shelf Registration Statement as contemplated by Section 3 hereof from such Initial
Purchaser, in exchange for such Securities, a like principal amount of New Securities. The Company
and the Guarantors shall use their commercially reasonable efforts to cause the CUSIP Service
Bureau to issue the same CUSIP number for such New Securities as for New Securities issued pursuant
to the Registered Exchange Offer.

          3. Shelf Registration. (a) If (i) due to any change in law or applicable
interpretations thereof by the Commission’s staff, the Company and the Guarantors determine upon
advice of their outside counsel that they are not permitted to effect the Registered Exchange Offer
as contemplated by Section 2 hereof; (ii) for any other reason the Registered Exchange Offer is not
consummated within 365 days of the date hereof; (iii) any Initial Purchaser so requests with
respect to Securities that are not eligible to be exchanged for New Securities in the Registered
Exchange Offer and that are held by it following consummation of the Registered Exchange Offer;
(iv) any Holder (other than an Initial Purchaser) is not eligible to participate in the Registered
Exchange Offer; or (v) in the case of any Initial Purchaser that participates in the Registered
Exchange Offer or acquires New Securities pursuant to Section 2(f) hereof, such Initial Purchaser
does not receive freely tradeable New Securities in exchange for Securities constituting any
portion of an unsold allotment (it being understood that (x) the requirement that an Initial
Purchaser deliver a Prospectus containing the information required by Item 507 or 508 of Regulation
S-K under the Act in connection with sales of New Securities acquired in exchange for such
Securities shall result in such New Securities being not “freely tradeable”; and (y) the
requirement that an Exchanging Dealer deliver a Prospectus in connection with sales of New
Securities acquired in the Registered Exchange Offer in exchange for Securities acquired as a
result of market-making activities or other trading activities shall not result in such New
Securities being not “freely tradeable”), the Company and the Guarantors shall effect a Shelf
Registration Statement in accordance with subsection (b) below.

          (b) (i) The Company and the Guarantors shall as promptly as practicable file with the
Commission and thereafter the Company and the Guarantors shall use their commercially reasonable
efforts to cause to be declared effective under the Act a Shelf Registration Statement relating to
the offer and sale of the Securities or the New Securities, as applicable, by the Holders thereof
from time to time in accordance with the methods of distribution elected by such Holders and set
forth in such Shelf Registration Statement; provided, however, that no Holder
(other than an Initial Purchaser) shall be entitled to have the Securities held by it covered by
such Shelf Registration Statement unless such Holder agrees in writing to be bound by all of the
provisions of this Agreement applicable to such Holder; and provided further, that
with respect to New Securities received by an Initial Purchaser in exchange for Securities
constituting any portion of an unsold allotment, the Company and the Guarantors may, if permitted
by current interpretations by the Commission’s staff, file a post-effective amendment to the
Exchange Offer Registration Statement containing the information required by Item 507 or 508 of
Regulation S-K, as applicable, in satisfaction of their obligations under this subsection with
respect thereto, and any such Exchange Offer Registration Statement, as so

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amended, shall be referred to herein as, and governed by the provisions herein applicable to,
a Shelf Registration Statement.

          (ii) Subject to Section 4(k)(ii), the Company and the Guarantors shall use their
commercially reasonable efforts to keep the Shelf Registration Statement continuously
effective, supplemented and amended as required by the Act, in order to permit the
Prospectus forming part thereof to be usable by Holders until all of the Securities are
Freely Transferable (in any such case, such period being called the “Shelf Registration
Period”). Each of the Company and the Guarantors shall be deemed not to have used its
commercially reasonable efforts to keep the Shelf Registration Statement effective during
the requisite period if it voluntarily takes any action that would result in Holders of
Securities covered thereby not being able to offer and sell such Securities during that
period, unless (A) such action is required by applicable law; or (B) such action is taken by
the Company and the Guarantors in good faith and for valid business reasons (not including
avoidance of the Company’s and Guarantors’ obligations hereunder), including the acquisition
or divestiture of assets, so long as each of the Company and the Guarantors promptly
thereafter complies with the requirements of Section 4(k) hereof, if applicable.

          (iii) The Company and the Guarantors shall cause the Shelf Registration Statement
and the related Prospectus and any amendment or supplement thereto, as of the effective date
of the Shelf Registration Statement or such amendment or supplement, (A) to comply in all
material respects with the applicable requirements of the Act and the rules and regulations
of the Commission; and (B) not to contain any untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not
misleading.

          4. Additional Registration Procedures. In connection with any Shelf Registration
Statement and, to the extent applicable, any Exchange Offer Registration Statement the following
provisions shall apply.

          (a) The Company and the Guarantors shall:

          (i) furnish to you, not less than five Business Days prior to the filing thereof
with the Commission, a copy of any Shelf Registration Statement, and each amendment thereof
and each amendment or supplement, if any, to the Prospectus included therein (including all
documents incorporated by reference therein after the initial filing) and, upon request,
shall use their commercially reasonable efforts to reflect in each such document, when so
filed with the Commission, such comments as you reasonably propose;

          (ii) include the information set forth in Annex A hereto on the facing page of the
Exchange Offer Registration Statement, in Annex B hereto in the forepart of the Exchange
Offer Registration Statement in a section setting forth details of the Exchange Offer, in
Annex C hereto in the underwriting or plan of distribution section of

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the Prospectus contained in the Exchange Offer Registration Statement, and in Annex D
hereto in the letter of transmittal delivered pursuant to the Registered Exchange Offer;

          (iii) if requested by an Initial Purchaser, include the information required by
Item 507 or 508 of Regulation S-K, as applicable, in the Prospectus contained in the
Exchange Offer Registration Statement; and

          (iv) in the case of a Shelf Registration Statement, include the names of the
Holders that propose to sell Securities pursuant to the Shelf Registration Statement as
selling security holders as long as they have complied with the terms thereof.

          (b) The Company and the Guarantors shall ensure that:

          (i) any Registration Statement and any amendment thereto and any Prospectus forming
part thereof and any amendment or supplement thereto complies in all material respects with
the Act and the rules and regulations thereunder; and

          (ii) any Registration Statement and any amendment thereto does not, when it becomes
effective, contain an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein not misleading.

          (c) The Company shall provide you, the Holders of Securities covered by any Shelf
Registration Statement and any Exchanging Dealer under any Exchange Offer Registration Statement
that has been provided in writing to the Company a telephone or facsimile number and address for
notices, and, if requested by you or any such Holder or Exchanging Dealer, shall confirm such
advice in writing (which notice pursuant to clauses (ii)-(v) hereof shall be accompanied by an
instruction to suspend the use of the Prospectus until the Company and the Guarantors shall have
remedied the basis for such suspension):

          (i) when a Registration Statement and any amendment thereto has been filed with the
Commission and when the Registration Statement or any post-effective amendment thereto has
become effective;

          (ii) of any request by the Commission for any amendment or supplement to the
Registration Statement or the Prospectus or for additional information; provided,
that prior to the effectiveness of such Registration Statement, the Company and the
Guarantors need only advise the Initial Purchasers of any such request;

          (iii) of the issuance by the Commission of any stop order suspending the
effectiveness of the Registration Statement or the initiation of any proceedings for that
purpose;

          (iv) of the receipt by the Company or any Guarantor of any notification with
respect to the suspension of the qualification of the securities included therein for sale
in any jurisdiction or the initiation of any proceeding for such purpose; and

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          (v) of the happening of any event that requires any change in the Registration
Statement or the Prospectus so that, as of such date, they (A) do not contain any untrue
statement of a material fact and (B) do not omit to state a material fact required to be
stated therein or necessary to make the statements therein (in the case of the Prospectus,
in the light of the circumstances under which they were made) not misleading;
provided, that prior to the effectiveness of such Registration Statement, the
Company and the Guarantors need only advise the Initial Purchasers of any such request.

          (d) The Company and the Guarantors shall use their commercially reasonable efforts to
obtain the withdrawal of any order suspending the effectiveness of any Registration Statement or
the qualification of the securities therein for sale in any jurisdiction at the earliest possible
time.

          (e) The Company and the Guarantors shall furnish to each Holder of Securities covered by
any Shelf Registration Statement, without charge, at least one copy of such Shelf Registration
Statement and any post-effective amendment thereto, and, if the Holder so requests in writing, all
exhibits thereto (including exhibits incorporated by reference therein) and documents incorporated
by reference.

          (f) The Company and the Guarantors shall, during the Shelf Registration Period, deliver to
each Holder of Securities covered by any Shelf Registration Statement, without charge, as many
copies of the Prospectus (including each preliminary Prospectus) included in such Shelf
Registration Statement and any amendment or supplement thereto as such Holder may reasonably
request. Each of the Company and the Guarantors consents to the use of the Prospectus after the
effectiveness of the applicable Registration Statement to which such Prospectus relates or any
amendment or supplement thereto by each of the selling Holders of Securities in connection with the
offering and sale of the Securities covered by the Prospectus, or any amendment or supplement
thereto, included in the Shelf Registration Statement.

          (g) The Company and the Guarantors shall furnish to each Exchanging Dealer which so
requests, without charge, at least one copy of the Exchange Offer Registration Statement and any
post-effective amendment thereto and, if the Exchanging Dealer so requests in writing, all exhibits
thereto (including exhibits incorporated by reference therein) and documents incorporated by
reference.

          (h) The Company and the Guarantors shall promptly deliver to each Initial Purchaser, each
Exchanging Dealer and each other Person required to deliver a Prospectus during the Exchange Offer
Registration Period, without charge, as many copies of the Prospectus included in such Exchange
Offer Registration Statement and any amendment or supplement thereto as any such Person may
reasonably request. Each of the Company and the Guarantors consents to the use of the Prospectus
or any amendment or supplement thereto by any Initial Purchaser, any Exchanging Dealer and any such
other Person that may be required to deliver a Prospectus following the Registered Exchange Offer
in connection with the offering and sale of the New Securities covered by the Prospectus, or any
amendment or supplement thereto, included in the Exchange Offer Registration Statement.

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          (i) Prior to the Registered Exchange Offer or any other offering of Securities pursuant to
any Registration Statement, the Company and the Guarantors shall use their commercially reasonable
efforts to arrange, if necessary, for the qualification of the Securities or the New Securities for
sale under the laws of such jurisdictions as any Holder shall reasonably request and will maintain
such qualification in effect so long as required to enable the offer and sale in such jurisdictions
of the Securities or New Securities; provided that in no event shall the Company or the
Guarantors be obligated to qualify to do business in any jurisdiction where they are not then so
qualified or to take any action that would subject them to service of process in suits or taxation,
other than those arising out of the Initial Placement, the Registered Exchange Offer or any
offering pursuant to a Shelf Registration Statement, in any such jurisdiction where they are not
then so subject.

          (j) The Company and the Guarantors shall cooperate with the Holders of Securities to
facilitate the timely preparation and delivery of certificates representing New Securities or
Securities to be issued or sold pursuant to any Registration Statement free of any restrictive
legends and in such denominations and registered in such names as Holders may request.

          (k) (i) Upon the occurrence of any event contemplated by subsections (c)(ii) through (v)
above during the period for which the Company and the Guarantors are required under this Agreement
to maintain an effective Registration Statement, the Company and the Guarantors shall promptly
prepare a post-effective amendment to the applicable Registration Statement or an amendment or
supplement to the related Prospectus or file any other required document so that, as thereafter
delivered to Initial Purchasers of the Securities included therein, the Prospectus will not include
an untrue statement of a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which
they were made, not misleading. In such circumstances, other than with respect to any Deferral
Period, the period of effectiveness of the Exchange Offer Registration Statement provided for in
Section 2 and the Shelf Registration Statement provided for in Section 3(b) shall each be extended
by the number of days from and including the date of the giving of a notice of suspension pursuant
to Section 4(c) to and including the date when the Initial Purchasers, the Holders of the
Securities and any known Exchanging Dealer shall have received such amended or supplemented
Prospectus pursuant to this Section.

          (ii) Upon the occurrence or existence of any pending corporate development or any other
material event that, in the reasonable judgment of the Company, makes it appropriate to suspend the
availability of the Shelf Registration Statement and the related Prospectus, the Company shall give
notice (without notice of the nature or details of such events) to the Holders that the
availability of the Shelf Registration Statement is suspended and, upon actual receipt of any such
notice, each Holder agrees not to sell any Securities pursuant to the Shelf Registration until such
Holder’s receipt of copies of the supplemented or amended Prospectus provided for in Section 4(a)
hereof, or until it is advised in writing by the Company that the Prospectus may be used, and has
received copies of any additional or supplemental filings that are incorporated or deemed
incorporated by reference in such Prospectus. The period during which the availability of the
Shelf Registration or the Exchange Offer Registration Statement, as the case may be, and any
Prospectus is suspended (the “Deferral Period”) shall not exceed 45 days in any three-month period
or 90 days in any 365-day period.

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          (l) Not later than the effective date of the applicable Registration Statement, the
Company and the Guarantors shall provide a CUSIP number for the Securities or the New Securities,
as the case may be, registered under such Registration Statement and provide the Trustee with
printed certificates for such Securities or New Securities, in a form eligible for deposit with The
Depository Trust Company.

          (m) The Company and the Guarantors shall comply with all applicable rules and regulations
of the Commission and shall make generally available to their security holders as soon as
practicable after the effective date of the applicable Registration Statement an earning statement
satisfying the provisions of Section 11(a) of the Act.

          (n) The Company and the Guarantors shall cause the Indenture or the New Securities
Indenture, as the case may be, to be qualified under the Trust Indenture Act of 1939 as amended, as
required by applicable law, in a timely manner.

          (o) The Company and the Guarantors may require each Holder of Securities to be sold
pursuant to any Shelf Registration Statement to furnish to the Company and the Guarantors such
information in writing regarding the Holder and the proposed distribution of such Securities as the
Company and the Guarantors may from time to time reasonably require for inclusion in such
Registration Statement. The Company and the Guarantors may exclude from such Shelf Registration
Statement the Securities of any Holder that fails to furnish such information in writing within a
reasonable time after receiving such request or any Holder that does not agree in writing to be
bound by all of the provisions of this Registration Rights Agreement applicable to such Holder.

          (p) In the case of any Shelf Registration Statement, the Company and the Guarantors shall
enter into customary agreements (including, if requested, an underwriting agreement in customary
form) and take all other appropriate actions in order to expedite or facilitate the registration or
the disposition of the Securities, and in connection therewith, if an underwriting agreement is
entered into, cause the same to contain indemnification provisions and procedures no less favorable
than those set forth in Section 7 hereof (or such other provisions and procedures acceptable to the
Majority Holders and the Managing Underwriters, if any, with respect to all parties to be
indemnified pursuant to Section 7 hereof).

          (q) In the case of any Shelf Registration Statement, each of the Company and the
Guarantors shall:

          (i) make reasonably available for inspection by the Holders of Securities to be
registered thereunder, any underwriter participating in any disposition pursuant to such
Registration Statement, and any attorney, accountant or other agent retained by the Holders
or any such underwriter all relevant financial and other records, and pertinent corporate
documents of the Company and its subsidiaries; provided however, that, if
any such records, documents or other information are related to pending or proposed
acquisitions or dispositions, or otherwise related to matters reasonably considered by the
Company to constitute sensitive or proprietary information, each Holder receiving such
information shall take such actions as are reasonably necessary to protect the
confidentiality of such information;

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          (ii) cause the Company’s officers, directors and employees to supply all relevant
information reasonably requested by the Holders or any such underwriter, legal counsel,
accountant or agent in connection with any such Registration Statement as is customary for
similar due diligence examinations; provided, however, that such information
may not be used for any other purposes than due diligence; and provided
further, however, that any information that is designated in writing by the
Company, in good faith, as confidential at the time of delivery of such information shall be
kept confidential by the Holders or any such underwriter, legal counsel, accountant or
agent, unless such disclosure is made in connection with a court proceeding or required by
law, or such information becomes available to the public generally or through a third party
without an accompanying obligation of confidentiality;

          (iii) make such representations and warranties to the Holders of Securities
registered thereunder and the underwriters, if any, in form, substance and scope as are
customarily made by issuers to underwriters in primary underwritten offerings and selling
security holders in secondary offerings, as applicable, and covering matters including, but
not limited to, those set forth in the Purchase Agreement;

          (iv) if any of the Securities or New Securities, as the case may be, covered by any
Shelf Registration Statement are to be sold in an underwritten offering, obtain opinions of
counsel to the Company and the Guarantors and updates thereof (which counsel and opinions
(in form, scope and substance) shall be reasonably satisfactory to the Managing
Underwriters, if any) addressed to each selling Holder and the underwriters, if any,
covering such matters as are customarily covered in opinions requested by selling security
holders and underwriters, as applicable, in underwritten offerings;

          (v) if any of the Securities or New Securities, as the case may be, covered by any
Shelf Registration Statement are to be sold in an underwritten offering, obtain “cold
comfort” letters and updates thereof from the independent certified public accountants of
the Company (and, if necessary, any other independent certified public accountants of any
subsidiary of the Company or of any business acquired by the Company for which financial
statements and financial data are, or are required to be, included in the Registration
Statement), addressed to each selling Holder of Securities registered thereunder and the
underwriters, if any, provided that such letters need not be addressed to any Holder
to whom, in the reasonable opinion of the Company’s independent public accountants,
addressing such letter is not permissible under applicable accounting standards, in
customary form and covering matters of the type customarily covered in “cold comfort”
letters in connection with primary underwritten offerings or secondary offerings, as
applicable; and

          (vi) deliver such documents and certificates as may be reasonably requested by the
Majority Holders and the Managing Underwriters, if any, including those to evidence
compliance with Section 4(k) and with any customary conditions contained in the underwriting
agreement or other agreement entered into by the Company and the Guarantors.

13

 

The actions set forth in clauses (iii), (iv), (v) and (vi) of this Section 4(q) shall be performed
at (A) the effectiveness of such Registration Statement and each post-effective amendment thereto;
and (B) each closing under any underwriting or similar agreement as and to the extent required
thereunder.

          (r) In the case of any Exchange Offer Registration Statement, each of the Company and the
Guarantors shall, for any Initial Purchaser which is exchanging Securities for New Securities in
the Exchange Offer:

          (i) make reasonably available for inspection by such Initial Purchaser, and any
attorney, accountant or other agent retained by such Initial Purchaser, all relevant
financial and other records, pertinent corporate documents and properties of the Company and
its subsidiaries provided, however, that if any such records, documents or
other information related to pending or proposed acquisitions or dispositions, or otherwise
related to matters reasonably acceptable to such parties and the Company to constitute
sensitive or proprietary information, each Holder receiving such information shall take such
actions as are reasonably necessary to protect the confidentiality of such information;

          (ii) cause the Company’s officers, directors and employees to supply all relevant
information reasonably requested by such Initial Purchaser or any such attorney, accountant
or agent in connection with any such Registration Statement as is customary for similar due
diligence examinations; provided, however, that such information may not be
used for any other purposes than due diligence; and provided, further,
however, that any information that is designated in writing by the Company, in good
faith, as confidential at the time of delivery of such information shall be kept
confidential by such Initial Purchaser or any such attorney, accountant or agent, unless
such disclosure is made in connection with a court proceeding or required by law, or such
information becomes available to the public generally or through a third party without an
accompanying obligation of confidentiality;

          (iii) make such representations and warranties to such Initial Purchaser in form,
substance and scope as are customarily made by issuers to underwriters in primary
underwritten offerings and covering matters including, but not limited to, those set forth
in the Purchase Agreement; and

          (iv) deliver such documents and certificates as may be reasonably requested by such
Initial Purchaser or its counsel, including those necessary to evidence compliance with
Section 4(k) and with conditions customarily contained in underwriting agreements.

The foregoing actions set forth in clauses (iii) and (iv) of this Section 4(r) shall be performed
at the close of the Registered Exchange Offer and the effective date of any post-effective
amendment to the Exchange Offer Registration Statement.

          (s) If a Registered Exchange Offer is to be consummated, upon delivery of the Securities
by Holders to the Company and the Guarantors (or to such other Person as directed

14

 

by the Company or the Guarantors) in exchange for the New Securities, the Company and the
Guarantors shall mark, or caused to be marked, on the Securities so exchanged that such Securities
are being canceled in exchange for the New Securities. In no event shall the Securities be marked
as paid or otherwise satisfied.

          (t) The Company and the Guarantors shall use their commercially reasonable efforts (i) if
the Securities have been rated prior to the initial sale of such Securities, to confirm such
ratings will apply to the Securities or the New Securities, as the case may be, covered by a
Registration Statement; or (ii) if the Securities were not previously rated, to cause the
Securities covered by such Registration Statement to be rated by at least one nationally recognized
statistical rating agency, if so requested by Majority Holders with respect to the related
Registration Statement or by any Managing Underwriters.

          (u) In the event that any Broker-Dealer shall underwrite any Securities or participate as
a member of an underwriting syndicate or selling group or “assist in the distribution” (within the
meaning of the FINRA Rules) thereof, whether as a Holder of such Securities or as an underwriter, a
placement or sales agent or a broker or dealer in respect thereof, or otherwise, the Company and
the Guarantors shall assist such Broker-Dealer in complying with the requirements of such FINRA
Rules including, without limitation, by:

          (i) if such FINRA Rules shall so require, engaging a “qualified independent
underwriter” (as defined in such FINRA Rules) to participate in the preparation of the
Registration Statement, to exercise usual standards of due diligence with respect thereto
and, if any portion of the offering contemplated by such Registration Statement is an
underwritten offering or is made through a placement or sales agent, to recommend the yield
of such Securities;

          (ii) indemnifying any such qualified independent underwriter to the extent of the
indemnification of underwriters provided in Section 7 hereof; and

          (iii) providing such information to such Broker-Dealer as may be required in order
for such Broker-Dealer to comply with the requirements of such FINRA Rules.

          (v) The Company and the Guarantors shall use their commercially reasonable efforts to take
all other steps necessary to effect the registration of the Securities or the New Securities, as
the case may be, covered by a Registration Statement.

          (w) The Company and the Guarantors represent, warrant and covenant that neither the
Company nor any Guarantor (including their respective agents and representatives) will prepare,
make, use, authorize, approve or refer to any Free Writing Prospectus.

          5. Liquidated Damages. In the event that (i) the Registered Exchange Offer is not
consummated 365 days of the date hereof (or if such 365th day is not a Business Day, the
next succeeding Business Day), or (ii) a Shelf Registration Statement is required to be filed but
has not been declared effective under the Act within 365 days of the date hereof (or if such
365th day is not a Business Day, the next succeeding Business Day), the interest rate
borne by the Securities shall be increased by one-quarter of one percent per annum for the first 90
days

15

 

following such period. Such interest rate will increase by an additional one-quarter of one
percent per annum thereafter up to a maximum aggregate increase of one percent per annum. Upon (a)
the effectiveness of the Exchange Offer Registration Statement, (b) the consummation of the
Registered Exchange Offer or (c) the effectiveness of the Shelf Registration Statement, the
interest rate borne by the Securities will be reduced to the original interest rate.

          6. Registration Expenses. The Company and the Guarantors shall bear all expenses
incurred in connection with the performance of their obligations under Sections 2, 3 and 4 hereof
and, in the event of any Shelf Registration Statement, will reimburse the Holders for the
reasonable fees and disbursements of one firm or counsel (which shall initially be Shearman &
Sterling LLP, but which may, with the written consent of the Initial Purchasers, be another
nationally recognized law firm experienced in securities matters, designated by the Majority
Holders) to act as counsel for the Holders in connection therewith, and, in the case of any
Exchange Offer Registration Statement, will reimburse the Initial Purchasers for the reasonable
fees and disbursements of counsel acting in connection therewith. Each Holder shall pay all
underwriting discounts and commissions and transfer taxes, if any, relating to the sale or
disposition of such Holder’s Securities pursuant to the Shelf Registration Statement.

          7. Indemnification and Contribution. (a)Each of the Company and the Guarantors agrees,
jointly and severally, to indemnify and hold harmless each Holder of Securities or New Securities,
as the case may be, covered by any Registration Statement (including each Initial Purchaser and,
with respect to any Prospectus delivery as contemplated in Section 4(h) hereof, each Exchanging
Dealer), the directors, officers, employees and agents of each such Holder and each Person who
controls any such Holder within the meaning of either the Act or the Exchange Act against any and
all losses, claims, damages or liabilities, joint or several, to which they or any of them may
become subject under the Act, the Exchange Act or other Federal or state statutory law or
regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement as originally filed or in any
amendment thereof, or in any preliminary Prospectus or the Prospectus, or in any amendment thereof
or supplement thereto, or in any Free Writing Prospectus used in violation of this Agreement, or
arise out of or are based upon the omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein (in the case of any
preliminary Prospectus or the Prospectus, in the light of the circumstances under which they were
made) not misleading, and agrees to reimburse each such indemnified party, as incurred, for any
legal or other expenses reasonably incurred by them in connection with investigating or defending
any such loss, claim, damage, liability or action; provided, however, that the
Company and the Guarantors will not be liable in any case to the extent that any such loss, claim,
damage or liability arises out of or is based upon any such untrue statement or alleged untrue
statement or omission or alleged omission made therein in reliance upon and in conformity with
written information furnished to the Company and the Guarantors by or on behalf of any such Holder
specifically for inclusion therein. This indemnity agreement will be in addition to any liability
which the Company and the Guarantors may otherwise have.

          Each of the Company and the Guarantors also agrees to indemnify or contribute as provided in
Section 7(d) hereof to Losses of each underwriter of Securities or New Securities,

16

 

as the case may be, registered under a Shelf Registration Statement, their directors,
officers, employees or agents and each Person who controls such underwriter on substantially the
same basis as that of the indemnification of the Initial Purchasers and the selling Holders
provided in this Section 7(a) and shall, if requested by any Holder, enter into an underwriting
agreement reflecting such agreement, as provided in Section 4(p) hereof.

          (b) Each Holder of securities covered by a Registration Statement (including each Initial
Purchaser that is a Holder and, with respect to any Prospectus delivery as contemplated in Section
4(h) hereof, each Exchanging Dealer) severally agrees to indemnify and hold harmless each of the
Company and the Guarantors, each of its directors, each of its officers who signs such Registration
Statement and each Person who controls the Company or any Guarantor within the meaning of either
the Act or the Exchange Act, to the same extent as the foregoing indemnity from each of the Company
and the Guarantors to each such Holder, but only with reference to written information relating to
such Holder furnished to the Company and the Guarantors by or on behalf of such Holder specifically
for inclusion in the documents referred to in the foregoing indemnity. This indemnity agreement
will be in addition to any liability which any such Holder may otherwise have.

          (c) Promptly after receipt by an indemnified party under this Section 7 of notice of the
commencement of any action, such indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section, notify the indemnifying party in writing of
the commencement thereof; but the failure so to notify the indemnifying party (i) will not relieve
it from liability under paragraph (a) or (b) above unless and to the extent it did not otherwise
learn of such action and such failure results in the forfeiture by the indemnifying party of
substantial rights and defenses; and (ii) will not, in any event, relieve the indemnifying party
from any obligations to any indemnified party other than the indemnification obligation provided in
paragraph (a) or (b) above. The indemnifying party shall be entitled to appoint counsel of the
indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party
in any action for which indemnification is sought (in which case the indemnifying party shall not
thereafter be responsible for the fees and expenses of any separate counsel retained by the
indemnified party or parties except as set forth below); provided, however, that
such counsel shall be satisfactory to the indemnified party. Notwithstanding the indemnifying
party’s election to appoint counsel to represent the indemnified party in an action, the
indemnified party shall have the right to employ separate counsel (including local counsel), and
the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel
if (i) the use of counsel chosen by the indemnifying party to represent the indemnified party would
present such counsel with a conflict of interest; (ii) the actual or potential defendants in, or
targets of, any such action include both the indemnified party and the indemnifying party and the
indemnified party shall have reasonably concluded that there may be legal defenses available to it
and/or other indemnified parties which are different from or additional to those available to the
indemnifying party; (iii) the indemnifying party shall not have employed counsel satisfactory to
the indemnified party to represent the indemnified party within a reasonable time after notice of
the institution of such action; or (iv) the indemnifying party shall authorize the indemnified
party to employ separate counsel at the expense of the indemnifying party. An indemnifying party
will not, without the prior written consent of the indemnified parties, settle or compromise or
consent to the entry of any judgment with respect to any pending or threatened claim, action, suit
or proceeding in respect of which indemnification or contribution may be

17

 

sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or
action) unless such settlement, compromise or consent includes an unconditional release of each
indemnified party from all liability arising out of such claim, action, suit or proceeding and does
not include any statements as to any findings of fault, culpability or failure to act by or on
behalf of any indemnified party.

          (d) In the event that the indemnity provided in paragraph (a) or (b) of this Section is
unavailable to or insufficient to hold harmless an indemnified party for any reason, then in lieu
thereof, each applicable indemnifying party shall have a joint and several obligation to contribute
to the aggregate losses, claims, damages and liabilities (including legal or other expenses
reasonably incurred in connection with investigating or defending any loss, claim, liability,
damage or action) (collectively “Losses”) to which such indemnified party may be subject in such
proportion as is appropriate to reflect the relative benefits received by such indemnifying party,
on the one hand, and such indemnified party, on the other hand, from the Initial Placement and the
Registration Statement which resulted in such Losses; provided, however, that in no
case shall any Initial Purchaser or any subsequent Holder of any Security or New Security be
responsible, in the aggregate, for any amount in excess of the purchase discount or commission
applicable to such Security, or in the case of a New Security, applicable to the Security that was
exchangeable into such New Security, as set forth on the cover page of the Offering Memorandum, nor
shall any underwriter be responsible for any amount in excess of the underwriting discount or
commission applicable to the securities purchased by such underwriter under the Registration
Statement which resulted in such Losses. If the allocation provided by the immediately preceding
sentence is unavailable for any reason, the indemnifying party and the indemnified party shall
contribute in such proportion as is appropriate to reflect not only such relative benefits but also
the relative fault of such indemnifying party, on the one hand, and such indemnified party, on the
other hand, in connection with the statements or omissions which resulted in such Losses as well as
any other relevant equitable considerations. Benefits received by each of the Company and the
Guarantors shall be deemed to be equal to the total net proceeds as set forth on the cover page of
the Offering Memorandum. Benefits received by the Initial Purchasers shall be deemed to be equal
to the total purchase discounts and commissions from the Initial Placement, and benefits received
by any other Holders shall be deemed to be equal to the value of receiving Securities or New
Securities, as applicable, registered under the Act. Benefits received by any underwriter shall be
deemed to be equal to the total underwriting discounts and commissions, as set forth on the cover
page of the Prospectus forming a part of the Registration Statement which resulted in such Losses.
Relative fault shall be determined by reference to, among other things, whether any untrue or
alleged untrue statement of a material fact or omission or alleged omission to state a material
fact relates to information provided by the indemnifying party, on the one hand, or by the
indemnified party, on the other hand, the intent of the parties and their relative knowledge,
access to information and opportunity to correct or prevent such untrue statement or omission. The
parties agree that it would not be just and equitable if contribution were determined by pro rata
allocation (even if the Holders were treated as one entity for such purpose) or any other method of
allocation which does not take account of the equitable considerations referred to above.
Notwithstanding the provisions of this paragraph (d), no Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to
contribution from any Person who was not guilty of such fraudulent misrepresentation. For purposes
of this Section, each Person who controls a Holder within the meaning of either the Act or the
Exchange Act and each director, officer,

18

 

employee and agent of such Holder shall have the same rights to contribution as such Holder, and
each Person who controls the Company or any Guarantor within the meaning of either the Act or the Exchange Act,
each officer of the Company or any Guarantor who shall have signed the Registration Statement and
each director of the Company or any Guarantor shall have the same rights to contribution as the
Company and the Guarantors, subject in each case to the applicable terms and conditions of this
paragraph (d).

          (e) The provisions of this Section will remain in full force and effect, regardless of any
investigation made by or on behalf of any Holder or the Company or any Guarantor or any of the
officers, directors or controlling Persons referred to in this Section hereof, and will survive the
sale by a Holder of securities covered by a Registration Statement.

          8. Underwritten Registrations. (a)If any of the Securities or New Securities as the case
may be, covered by any Shelf Registration Statement are to be sold in an underwritten offering, the
Managing Underwriters shall be selected by the Majority Holders.

          (b) No Person may participate in any underwritten offering pursuant to any Shelf
Registration Statement, unless such Person (i) agrees to sell such Person’s Securities or New
Securities, as the case may be, on the basis reasonably provided in any underwriting arrangements
approved by the Persons entitled hereunder to approve such arrangements; and (ii) completes and
executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other
documents reasonably required under the terms of such underwriting arrangements.

          9. No Inconsistent Agreements. The Company and the Guarantors have not, as of the date
hereof, entered into, nor shall they, on or after the date hereof, enter into, any agreement with
respect to their securities that is inconsistent with the rights granted to the Holders herein or
otherwise conflicts with the provisions hereof.

          10. Amendments and Waivers. The provisions of this Agreement, including the provisions of
this sentence, may not be amended, qualified, modified or supplemented, and waivers or consents to
departures from the provisions hereof may not be given, unless the Company and the Guarantors have
obtained the written consent of the Majority Holders (or, after the consummation of any Registered
Exchange Offer in accordance with Section 2 hereof, of New Securities); provided that, with
respect to any matter that directly or indirectly affects the rights of any Initial Purchaser
hereunder, the Company and the Guarantors shall obtain the written consent of each such Initial
Purchaser against which such amendment, qualification, supplement, waiver or consent is to be
effective. Notwithstanding the foregoing (except the foregoing proviso), a waiver or consent to
departure from the provisions hereof with respect to a matter that relates exclusively to the
rights of Holders whose Securities or New Securities, as the case may be, are being sold pursuant
to a Registration Statement and that does not directly or indirectly affect the rights of other
Holders may be given by the Majority Holders, determined on the basis of Securities or New
Securities, as the case may be, being sold rather than registered under such Registration
Statement.

19

 

          11. Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, first-class mail, telex, telecopier or air courier
guaranteeing overnight delivery:

          (a) if to a Holder, at the most current address given by such Holder to the Company in
accordance with the provisions of this Section, which address initially is, with respect to each
Holder, the address of such Holder maintained by the Registrar under the Indenture, with a copy in
like manner to Morgan Stanley & Co. LLC;

          (b) if to you, initially at the respective addresses set forth in the Purchase Agreement;
and

          (c) if to the Company or any Guarantor, initially at its address set forth in the Purchase
Agreement.

          All such notices and communications shall be deemed to have been duly given when received.

          The Initial Purchasers or the Company and the Guarantors by notice to the other parties may
designate additional or different addresses for subsequent notices or communications.

          12. Successors and Assigns. This Agreement shall inure to the benefit of and be binding
upon the successors and assigns of each of the parties, including, without the need for an express
assignment or any consent by the Company and the Guarantors thereto, subsequent Holders of
Securities and the New Securities. Each of the Company and the Guarantors hereby agrees to extend
the benefits of this Agreement to any Holder of Securities and the New Securities, and any such
Holder may specifically enforce the provisions of this Agreement as if an original party hereto.

          13. Counterparts. This Agreement may be signed in one or more counterparts, each of which
shall be deemed to be an original and all of which taken together shall constitute one and the same
agreement.

          14. Headings. The section headings used herein are for convenience only and shall not
affect the construction hereof.

          15. Governing Law. This Agreement shall be governed by and construed in accordance with
the laws of the State of New York applicable to contracts made and to be performed in the State of
New York.

          16. Severability. In the event that any one or more of the provisions contained herein,
or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any
respect for any reason, the validity, legality and enforceability of any such provision in every
other respect and of the remaining provisions contained herein shall not be in any way impaired or
affected thereby, it being intended that all of the rights and privileges of the parties shall be
enforceable to the fullest extent permitted by law.

20

 

          17. Securities Held by the Company, etc.Whenever the consent or approval of Holders of a
specified percentage of principal amount of Securities or New Securities is required hereunder,
Securities or New Securities, as applicable, held by the Company, or its Affiliates (other than
subsequent Holders of Securities or New Securities if such subsequent Holders are deemed to be
Affiliates solely by reason of their holdings of such Securities or New Securities) shall not be
counted in determining whether such consent or approval was given by the Holders of such required
percentage.

21

 

          If the foregoing is in accordance with your understanding of our agreement, kindly sign and
return to the Company the enclosed copies hereof, whereupon this instrument, along with all
counterparts hereof, shall become a binding agreement in accordance with its terms.

	 	 	 	 	 
	 	Very truly yours,

Arch Coal, Inc.

 	 
	 	By:  	/s/ John T. Drexler
 	 
	 	 	Name:  	John T. Drexler 	 
	 	 	Title:  	Senior Vice President and 
Chief Financial
Officer 	 
	 

Registration Rights Agreement

 

 

	 	 	 	 	 
	 	Allegheny Land Company

Arch Coal Sales Company, Inc.

Arch Coal Terminal, Inc.

Arch Development, LLC

Arch Energy Resources, LLC

Arch Reclamation Services, Inc.

Ark Land Company

Ark Land KH, Inc.

Ark Land LT, Inc.

Ark Land WR, Inc.

Ashland Terminal, Inc.

Catenary Coal Holdings, Inc.

Coal-Mac, Inc.

Cumberland River Coal Company

Lone Mountain Processing, Inc.

Mingo Logan Coal Company

Mountain Gem Land, Inc.

Mountain Mining, Inc.

Mountaineer Land Company

Otter Creek Coal, LLC

Prairie Holdings, Inc.

Western Energy Resources, Inc. 

 	 
	 	By:  	/s/ James E. Florczak
 	 
	 	 	Name:  	James E. Florczak 	 
	 	 	Title:  	Vice President and Treasurer 	 
	 

Registration Rights Agreement

 

 

The foregoing Registration Rights Agreement is hereby confirmed and accepted as of the date first
above written.

Morgan Stanley & Co. LLC

PNC Capital Markets LLC

Merrill Lynch, Pierce, Fenner & Smith 
Incorporated

RBS Securities Inc. 

Citigroup Global Markets Inc.

     Each acting on behalf of themselves

     and as Representatives of

     the several Initial Purchasers

	 	 	 	 
	 	 
	     By:  	Morgan Stanley & Co. LLC
 	 

	 	 	 	 
	 	 
	     By:  	/s/ Kevin D. Emerson
 	 
	 	Name:  	Kevin D. Emerson 	 
	 	Title:  	Authorized Signatory 	 
	 

Registration Rights Agreement

 

 

	 	 	 	 	 
	 	 	 
	 	By:  	PNC Capital Markets LLC
 	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Robert W. Thomas
 	 
	 	 	Name:  	Robert W. Thomas 	 
	 	 	Title:  	Managing Director 	 
	 

Registration Rights Agreement

 

 

	 	 	 	 	 
	 	 	 
	 	By:  	Merrill Lynch, Pierce, Fenner & Smith

      Incorporated
 	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ J. Lex Maultsby
 	 
	 	 	Name:  	J. Lex Maultsby 	 
	 	 	Title:  	Managing Director 	 
	 

Registration Rights Agreement

 

 

	 	 	 	 	 
	 	 	 
	 	By:  	RBS Securities Inc.
 	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Douglas P. Harmon
 	 
	 	 	Name:  	Douglas P. Harmon 	 
	 	 	Title:  	Managing Director 	 
	 

Registration Rights Agreement

 

 

	 	 	 	 	 
	 	 	 
	 	By:  	Citigroup Global Markets Inc.
 	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Matthew J. Kenney
 	 
	 	 	Name:  	Matthew J. Kenney 	 
	 	 	Title:  	Vice President — Global Banking 	 
	 

Registration Rights Agreement

 

 

ANNEX A

          Each Broker-Dealer that receives New Securities for its own account pursuant to the Registered
Exchange Offer must acknowledge that it will deliver a prospectus in connection with any resale of
such New Securities. The Letter of Transmittal states that by so acknowledging and by delivering a
prospectus, a Broker-Dealer will not be deemed to admit that it is an “underwriter” within the
meaning of the Securities Act. This Prospectus, as it may be amended or supplemented from time to
time, may be used by a Broker-Dealer in connection with resales of New Securities received in
exchange for Securities where such Securities were acquired by such Broker-Dealer as a result of
market-making activities or other trading activities. The Company and the Guarantors have agreed
that, starting on the Expiration Date (as defined herein) and ending on the close of business one
year after the Expiration Date, they will make this Prospectus available to any Broker-Dealer for
use in connection with any such resale. See “Plan of Distribution”.

 

 

ANNEX B

          Each Broker-Dealer that receives New Securities for its own account in exchange for
Securities, where such Securities were acquired by such Broker-Dealer as a result of market-making
activities or other trading activities, must acknowledge that it will deliver a prospectus in
connection with any resale of such New Securities. See “Plan of Distribution”.

 

 

ANNEX C

PLAN OF DISTRIBUTION

          Each Broker-Dealer that receives New Securities for its own account pursuant to the Registered
Exchange Offer must acknowledge that it will deliver a prospectus in connection with any resale of
such New Securities. This Prospectus, as it may be amended or supplemented from time to time, may
be used by a Broker-Dealer in connection with resales of New Securities received in exchange for
Securities where such Securities were acquired as a result of market-making activities or other
trading activities. The Company and the Guarantors have agreed that, starting on the Expiration
Date and ending on the close of business 180 days after the Expiration Date, they will make this
Prospectus, as amended or supplemented, available to any Broker-Dealer for use in connection with
any such resale. In addition, until ___________, 20___, dealers effecting transactions in the New
Securities may be required to deliver a prospectus.

          The Company and the Guarantors will not receive any proceeds from any sale of New Securities
by brokers-dealers. New Securities received by Broker-Dealers for their own account pursuant to
the Registered Exchange Offer may be sold from time to time in one or more transactions in the
over-the-counter market, in negotiated transactions, through the writing of options on the New
Securities or a combination of such methods of resale, at market prices prevailing at the time of
resale, at prices related to such prevailing market prices or negotiated prices. Any such resale
may be made directly to purchasers or to or through brokers or dealers who may receive compensation
in the form of commissions or concessions from any such Broker-Dealer and/or the purchasers of any
such New Securities. Any Broker-Dealer that resells New Securities that were received by it for
its own account pursuant to the Registered Exchange Offer and any broker or dealer that
participates in a distribution of such New Securities may be deemed to be an “underwriter” within
the meaning of the Securities Act and any profit of any such resale of New Securities and any
commissions or concessions received by any such Persons may be deemed to be underwriting
compensation under the Securities Act. The Letter of Transmittal states that by acknowledging that
it will deliver and by delivering a prospectus, a Broker-Dealer will not be deemed to admit that it
is an “underwriter” within the meaning of the Securities Act.

          For a period of 180 days after the Expiration Date, the Company and the Guarantors will
promptly send additional copies of this Prospectus and any amendment or supplement to this
Prospectus to any Broker-Dealer that requests such documents in the Letter of Transmittal. The
Company and the Guarantors have agreed to pay all expenses incidental to the Registered Exchange
Offer (including the expenses of one counsel for the Holders of the Securities) other than
commissions or concessions of any brokers or dealers and certain transfer taxes and will indemnify
the holders of the Securities (including any Broker-Dealers) against certain liabilities, including
liabilities under the Securities Act.

          Under existing interpretations of the Act by the Commission’s staff contained in several
no-action letters to third parties, and subject to the immediately following sentence, the Company
and the Guarantors believe that the New Securities would generally be freely transferable by
holders after the Registered Exchange Offer without further registration under the Act, subject to
certain representations required to be made by each Holder of New Securities, as

 

 

set forth below. However, any purchaser of New Securities who an “affiliate” (as defined in
Rule 405 under the Act) of the Company and the Guarantors or who intends to participate in the
Registered Exchange Offer for the purpose of distributing the New Securities:

	 	•	 	will not be able to rely on the applicable interpretation of the staff of
the Commission;

	 	•	 	will not be able to tender its Securities in the Registered Exchange Offer;
and

	 	•	 	must comply with the registration and prospectus delivery requirements of
the Act in connection with any sale or transfer of the Securities unless such
sale or transfer is made pursuant to an exemption from such requirements.

          The Company and the Guarantors do not intend to seek their own interpretations regarding the
Registered Exchange Offer and there can be no assurance that the Commission’s staff would make a
similar determination with respect to the New Securities as it has in other interpretation to other
parties, although the Company and the Guarantors have no reason to believe otherwise.

          [If applicable, add any other information required by Regulation S-K Items 507 an/or 508.]

 

 

ANNEX D

Rider A

	 	 	 	PLEASE FILL IN YOUR NAME AND ADDRESS BELOW IF YOU ARE A BROKER-DEALER AND WISH TO
RECEIVE 10 ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR
SUPPLEMENTS THERETO.

	 	 	 	 	 
	 	 	Name:  	 	 
	 	 	Address: 	 	 
	 	 	 	 	 
	 

Rider B

If the undersigned is not a Broker-Dealer, the undersigned represents that it acquired the New
Securities in the ordinary course of its business, it is not engaged in, and does not intend to
engage in, a distribution of New Securities and it has no arrangements or understandings with any
Person to participate in a distribution of the New Securities nor will it have any such
arrangements or understandings upon consummation of the Exchange Offer. If the undersigned is a
Broker-Dealer that will receive New Securities for its own account in exchange for Securities, it
represents that the Securities to be exchanged for New Securities were acquired by it as a result
of market-making activities or other trading activities and acknowledges that it will deliver a
prospectus in connection with any resale of such New Securities; however, by so acknowledging and
by delivering a prospectus, the undersigned will not be deemed to admit that it is an “underwriter”
within the meaning of the Act.Exhibit 10.1

Exhibit 10.1

EXECUTION COPY

CREDIT AGREEMENT

dated as of

June 10, 2011,

among

RENTECH ENERGY MIDWEST CORPORATION,

as Borrower,

RENTECH, INC.,

THE LENDERS PARTY HERETO,

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH

as Administrative Agent and Collateral Agent

and

CREDIT SUISSE SECURITIES (USA) LLC

as Sole Bookrunner, Sole Syndication Agent and Sole Lead Arranger

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 
	ARTICLE I

	 
	 	 	 	 
	Definitions

	 
	 	 	 	 
	SECTION 1.01. Defined Terms
	 	 	1	 
	SECTION 1.02. Terms Generally
	 	 	25	 
	SECTION 1.03. Pro Forma Calculations
	 	 	26	 
	 
	 	 	 	 
	ARTICLE II

	 
	 	 	 	 
	The Credits

	 
	 	 	 	 
	SECTION 2.01. Commitments
	 	 	26	 
	SECTION 2.02. Loans
	 	 	26	 
	SECTION 2.03. Evidence of Debt; Repayment of Loans
	 	 	27	 
	SECTION 2.04. Fees
	 	 	28	 
	SECTION 2.05. Interest on Loans
	 	 	28	 
	SECTION 2.06. Default Interest
	 	 	28	 
	SECTION 2.07. Conversion and Continuation of Loans
	 	 	29	 
	SECTION 2.08. Repayment of Loans; Termination of Commitments
	 	 	30	 
	SECTION 2.09. Voluntary Prepayment
	 	 	31	 
	SECTION 2.10. Mandatory Prepayments
	 	 	31	 
	SECTION 2.11. Prepayment or Offer to Purchase in Connection with Change in Control
	 	 	33	 
	SECTION 2.12. Pro Rata Treatment
	 	 	33	 
	SECTION 2.13. Sharing of Setoffs
	 	 	33	 
	SECTION 2.14. Payments
	 	 	34	 
	SECTION 2.15. Taxes
	 	 	34	 
	SECTION 2.16. Assignment of Commitments Under Certain Circumstances; Duty to Mitigate
	 	 	36	 
	SECTION 2.17. Reserve Requirements; Change in Circumstances
	 	 	37	 
	SECTION 2.18. Change in Legality
	 	 	38	 
	SECTION 2.19. Breakage
	 	 	38	 
	SECTION 2.20. Alternate Rate of Interest
	 	 	39	 
	SECTION 2.21. Incremental Loans
	 	 	39	 
	SECTION 2.22. Defaulting Lenders
	 	 	41	 

 

i

 

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE III

	 
	 	 	 	 
	Representations and Warranties

	 
	 	 	 	 
	SECTION 3.01. Organization; Powers
	 	 	42	 
	SECTION 3.02. Authorization
	 	 	42	 
	SECTION 3.03. Enforceability
	 	 	42	 
	SECTION 3.04. Governmental Approvals
	 	 	42	 
	SECTION 3.05. Financial Statements
	 	 	42	 
	SECTION 3.06. No Material Adverse Change
	 	 	43	 
	SECTION 3.07. Title to Properties; Possession Under Leases
	 	 	43	 
	SECTION 3.08. Subsidiaries
	 	 	43	 
	SECTION 3.09. Litigation; Compliance with Laws
	 	 	44	 
	SECTION 3.10. Reserved.
	 	 	44	 
	SECTION 3.11. Federal Reserve Regulations
	 	 	44	 
	SECTION 3.12. Investment Company Act
	 	 	44	 
	SECTION 3.13. Use of Proceeds
	 	 	44	 
	SECTION 3.14. Tax Returns
	 	 	44	 
	SECTION 3.15. No Material Misstatements
	 	 	44	 
	SECTION 3.16. Employee Benefit Plans
	 	 	45	 
	SECTION 3.17. Environmental Matters
	 	 	45	 
	SECTION 3.18. Insurance
	 	 	45	 
	SECTION 3.19. Security Documents
	 	 	45	 
	SECTION 3.20. Location of Real Property and Leased Premises
	 	 	46	 
	SECTION 3.21. Labor Matters
	 	 	46	 
	SECTION 3.22. Solvency
	 	 	46	 
	SECTION 3.23. Sanctioned Persons; USA PATRIOT Act
	 	 	47	 
	 
	 	 	 	 
	ARTICLE IV

	 
	 	 	 	 
	Conditions of Lending

	 
	 	 	 	 
	SECTION 4.01. Conditions
	 	 	47	 
	 
	 	 	 	 
	ARTICLE V

	 
	 	 	 	 
	Affirmative Covenants

	 
	 	 	 	 
	SECTION 5.01. Existence; Compliance with Laws; Businesses and Properties
	 	 	50	 
	SECTION 5.02. Insurance
	 	 	50	 
	SECTION 5.03. Obligations and Taxes
	 	 	51	 
	SECTION 5.04. Financial Statements, Reports, etc
	 	 	51	 

 

ii

 

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	SECTION 5.05. Litigation and Other Notices
	 	 	53	 
	SECTION 5.06. Information Regarding Collateral
	 	 	54	 
	SECTION 5.07. Maintaining Records; Access to Properties and Inspections;
Maintenance of Ratings
	 	 	54	 
	SECTION 5.08. Use of Proceeds
	 	 	54	 
	SECTION 5.09. Employee Benefits
	 	 	54	 
	SECTION 5.10. Compliance with Environmental Laws
	 	 	55	 
	SECTION 5.11. Preparation of Environmental Reports
	 	 	55	 
	SECTION 5.12. Further Assurances
	 	 	55	 
	SECTION 5.13. Cash Management
	 	 	56	 
	SECTION 5.14. Senior Indebtedness
	 	 	56	 
	 
	 	 	 	 
	ARTICLE VI

	 
	 	 	 	 
	Negative Covenants

	 
	 	 	 	 
	SECTION 6.01. Indebtedness
	 	 	57	 
	SECTION 6.02. Liens
	 	 	59	 
	SECTION 6.03. Sale and Lease-Back Transactions
	 	 	61	 
	SECTION 6.04. Investments, Loans and Advances
	 	 	61	 
	SECTION 6.05. Mergers, Consolidations, Sales of Assets and Acquisitions
	 	 	64	 
	SECTION 6.06. Restricted Payments; Restrictive Agreements
	 	 	65	 
	SECTION 6.07. Transactions with Affiliates
	 	 	66	 
	SECTION 6.08. Business of Parent Holdings, the Borrower and Subsidiaries
	 	 	66	 
	SECTION 6.09. Other Indebtedness and Agreements
	 	 	66	 
	SECTION 6.10. Capital Expenditures
	 	 	67	 
	SECTION 6.11. Interest Coverage Ratio
	 	 	67	 
	SECTION 6.12. Maximum Leverage Ratio
	 	 	68	 
	SECTION 6.13. Fiscal Year
	 	 	68	 
	SECTION 6.14. Certain Equity Securities; Wholly Owned Subsidiaries
	 	 	69	 
	SECTION 6.15. No Speculative Agreements
	 	 	69	 
	SECTION 6.16. Modification of Management Agreement; Payment of Management Fees
	 	 	69	 
	SECTION 6.17. Minimum Liquidity Threshold
	 	 	69	 

 

iii

 

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE VII

	 
	 	 	 	 
	Events of Default

	 
	 	 	 	 
	ARTICLE VIII

	 
	 	 	 	 
	The Administrative Agent and the Collateral Agent

	 
	 	 	 	 
	ARTICLE IX

	 
	 	 	 	 
	Miscellaneous

	 
	 	 	 	 
	SECTION 9.01. Notices; Electronic Communications
	 	 	73	 
	SECTION 9.02. Survival of Agreement
	 	 	75	 
	SECTION 9.03. Binding Effect
	 	 	76	 
	SECTION 9.04. Successors and Assigns
	 	 	76	 
	SECTION 9.05. Expenses; Indemnity
	 	 	79	 
	SECTION 9.06. Right of Setoff
	 	 	80	 
	SECTION 9.07. Applicable Law
	 	 	80	 
	SECTION 9.08. Waivers; Amendment
	 	 	81	 
	SECTION 9.09. Interest Rate Limitation
	 	 	81	 
	SECTION 9.10. Entire Agreement
	 	 	82	 
	SECTION 9.11. WAIVER OF JURY TRIAL
	 	 	82	 
	SECTION 9.12. Severability
	 	 	82	 
	SECTION 9.13. Counterparts
	 	 	82	 
	SECTION 9.14. Headings
	 	 	82	 
	SECTION 9.15. Jurisdiction; Consent to Service of Process
	 	 	82	 
	SECTION 9.16. Confidentiality
	 	 	83	 
	SECTION 9.17. Lender Action
	 	 	83	 
	SECTION 9.18. USA PATRIOT Act Notice
	 	 	84	 
	SECTION 9.19. Diligence
	 	 	84	 

 

iv

 

SCHEDULES

	 	 	 	 	 
	Schedule 1.01(a)

	 	—
	 	Existing Permitted Project Guarantees
	Schedule 1.01(b)

	 	—
	 	Subsidiary Guarantors
	Schedule 1.01(c)

	 	—
	 	Mortgaged Property
	Schedule 2.01

	 	—
	 	Lenders and Commitments
	Schedule 3.08

	 	—
	 	Subsidiaries
	Schedule 3.17

	 	—
	 	Environmental Matters
	Schedule 3.18

	 	—
	 	Insurance
	Schedule 3.19(a)

	 	—
	 	UCC Filing Offices
	Schedule 3.19(c)

	 	—
	 	Mortgage Filing Offices
	Schedule 3.20(a)

	 	—
	 	Owned Real Property
	Schedule 3.20(b)

	 	—
	 	Leased Real Property
	Schedule 6.01

	 	—
	 	Existing Indebtedness
	Schedule 6.02

	 	—
	 	Existing Liens
	Schedule 6.04(i)

	 	—
	 	Existing Investments

EXHIBITS

	 	 	 	 	 
	Exhibit A

	 	—
	 	Form of Assignment and Acceptance
	Exhibit B

	 	—
	 	Form of Borrowing Request
	Exhibit C

	 	—
	 	Form of Guarantee and Collateral Agreement
	Exhibit D

	 	—
	 	Form of Compliance Certificate
	Exhibit E

	 	—
	 	Form of Notice of Conversion and Continuation of Borrowings

 

v

 

CREDIT AGREEMENT dated as of June 10, 2011 (this “Agreement”), among RENTECH ENERGY MIDWEST
CORPORATION, a Delaware corporation (the “Borrower”), RENTECH, INC., a Colorado corporation
(“Parent Holdings”), the Lenders (such term and each other capitalized term used but not defined in
this introductory statement having the meaning given it in Article I), and CREDIT SUISSE
AG, CAYMAN ISLANDS BRANCH, as administrative agent (in such capacity, including any successor
thereto, the “Administrative Agent”) and as collateral agent (in such capacity, including any
successor thereto, the “Collateral Agent”) for the Lenders.

The Borrower entered into that certain Credit Agreement dated as of January 29, 2010 by and
among the Borrower, Parent Holdings, certain financial institutions party thereto, as lenders,
Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent for such
lenders (as amended, modified or supplemented from time to time, the “Existing Credit Agreement”)
pursuant to which the Borrower borrowed term loans from the lenders thereunder.

Concurrently with the execution and delivery of this Agreement, the Borrower shall repay in
full and terminate the Existing Credit Agreement.

The Borrower has requested the Lenders to extend credit in the form of term loans on the
Closing Date, in an aggregate principal amount of $150,000,000. The proceeds of the term loans,
together with other funds of the Borrower, are to be used, on the Closing Date, solely (a) to pay a
one-time cash dividend in an aggregate amount not to exceed $67,000,000 to Rentech Development
Corporation, a Colorado corporation (“RDC”), for further payment by RDC to Parent Holdings (the
“Closing Date Dividend”), (b) to repay the obligations in respect of the Existing Credit Agreement,
and (c) to pay Transaction Costs.

The Lenders are willing to extend such credit to the Borrower on the terms and subject to the
conditions set forth herein. Accordingly, the parties hereto agree as follows:

ARTICLE I

Definitions

SECTION 1.01. Defined Terms. As used in this Agreement, the following terms shall have the
meanings specified below:

“ABR”, when used in reference to any Loan, refers to whether such Loan is bearing interest at
a rate determined by reference to the Alternate Base Rate.

“Acquired Entity” shall have the meaning assigned to such term in Section 6.04(a)(iv).

“Adjusted LIBO Rate” shall mean for any Interest Period, an interest rate per annum equal to
the greater of (a) 1.50% per annum, and (b) the product of (i) the LIBO Rate in effect for such
Interest Period and (ii) Statutory Reserves.

“Administrative Agent” shall have the meaning assigned to such term in the introductory
statement to this Agreement.

“Administrative Agent Fees” shall have the meaning assigned to such term in Section
2.04(a).

“Administrative Questionnaire” shall mean an Administrative Questionnaire in such form as may
be supplied from time to time by the Administrative Agent.

 

 

 

“Affiliate” shall mean, when used with respect to a specified Person, another Person that
directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is
under common Control with the Person specified; provided, however, that, for purposes of the
definition of “Eligible Assignee” and Section 6.07, the term “Affiliate” shall also include
any Person that directly or indirectly owns 5% or more of any class of Equity Interests of the
Person specified or that is an officer or director of the Person specified. “Affiliated” shall
have the meaning correlative thereto. No Agent, Lender or Affiliate thereof shall be deemed to be
an “Affiliate” of any Loan Party for purposes of this Agreement.

“Agents” shall have the meaning assigned to such term in Article VIII.

“Agreement Value” shall mean, for each Hedging Agreement, on any date of determination, the
maximum aggregate amount (giving effect to any netting agreements; provided that, for purposes of
making any calculation hereunder during an Insolvency Proceeding, only to the extent such netting
agreements are legally enforceable in such Insolvency Proceeding against the applicable
counterparty obligor thereunder) that Parent Holdings, the Borrower or such Subsidiary would be
required to pay if such Hedging Agreement were terminated on such date.

“Agreement” shall have the meaning assigned to such term in the introductory statement to this
Agreement.

“Alternate Base Rate” shall mean, for any day, a rate per annum equal to the greatest of (a)
the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day
plus 1/2 of 1%, (c) the Adjusted LIBO Rate for an Interest Period of one month on such day (or, if
such day is not a Business Day, the immediately preceding Business Day) plus 1.00%, and (d) 2.50%
per annum; provided, that, for purposes of determining the Alternate Base Rate pursuant to clause
(c) of this sentence, the Adjusted LIBO Rate for any day shall be based on the rate determined and
applied on such day at approximately 11:00 a.m. (London time) by reference to the British Bankers’
Association Interest Settlement Rates for deposits in Dollars (as set forth by any service selected
by the Administrative Agent that has been nominated by the British Bankers’ Association as an
authorized vendor for the purpose of displaying such rates). If the Administrative Agent shall
have determined (which determination shall be conclusive absent manifest error) that it is unable
to ascertain the Federal Funds Effective Rate for any reason, including the inability or failure of
the Administrative Agent to obtain sufficient quotations in accordance with the terms of the
definition thereof, the Alternate Base Rate shall be determined without regard to clause (b) of the
preceding sentence until the circumstances giving rise to such inability no longer exist. Any
change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective
Rate or LIBO Rate shall be effective on the effective date of such change in the Prime Rate or the
Federal Funds Effective Rate, as the case may be.

“Applicable ECF Percentage” shall mean, with respect to any Excess Cash Flow Period, one
hundred percent (100%); provided, that if (a) if the Leverage Ratio as of the last day of such
Excess Cash Flow Period is less than 3.00 to 1.00 and (b) the aggregate principal balance of the
Loans outstanding as of the last day of such Excess Cash Flow Period is less than $120,000,000,
“Applicable ECF Percentage” shall mean seventy-five percent (75%); provided, further, that if (a)
the Leverage Ratio as of the last day of such Excess Cash Flow Period is less than 1.75 to 1.00 and
(b) the aggregate principal balance of the Loans outstanding as of the last day of such Excess Cash
Flow Period is less than $90,000,000, “Applicable ECF Percentage” shall mean fifty percent (50%).

“Applicable Margin” shall mean, for any day with respect to any Loan, (a) accruing interest at
the Alternate Base Rate, 7.50% per annum, or (b) accruing interest at the Adjusted LIBO Rate, 8.50%
per annum.

 

2

 

“Applicable Maturity Date” shall mean (i) prior to the payment in full in cash of the
Obligations (other than (a) Obligations in respect of Incremental Loans and (b) contingent
indemnification obligations in respect of which no claim for payment has been asserted by the
Person entitled thereto), the Maturity Date, and (ii) thereafter, if, at any time, any Incremental
Loans or Obligations (other than contingent indemnification obligations in respect of which no
claim for payment has been asserted by the Person entitled thereto) in respect thereof are
outstanding and the related Incremental Loan Commitments have not been terminated, the earliest to
occur of the Incremental Loan Maturity Dates.

“Asset Sale” shall mean the sale, transfer or other disposition (by way of merger, casualty,
condemnation or otherwise) by Parent Holdings, the Borrower or any Subsidiary Guarantor to any
Person other than Parent Holdings, the Borrower or any Subsidiary Guarantor of (a) any Equity
Interests of any of the Subsidiaries (other than directors’ qualifying shares) or (b) any other
assets of the Borrower or any of the Subsidiary Guarantors (other than (i) inventory, damaged,
obsolete or worn out assets, scrap and Permitted Investments, in each case disposed of in the
ordinary course of business, (ii) any sale, transfer or other disposition or series of related
sales, transfers or other dispositions having a value not in excess of $500,000 (or, in the case of
a sale, transfer or other disposition or series of related sales, transfers or other dispositions
by the Borrower or any of its subsidiaries, $250,000), (iii) any equity contributions (other than
in the form of Disqualified Stock) received from Parent Holdings or any Subsidiary by the Borrower
or any Subsidiary Guarantor, to the extent not prohibited by this Agreement and (iv) any sale,
transfer or other disposition by the Borrower to a third party that is not an Affiliate of Parent
Holdings or any of the Subsidiaries of carbon credits or similar allowances).

“Assignment and Acceptance” shall mean an assignment and acceptance entered into by a Lender
and an Eligible Assignee, and accepted by the Administrative Agent, in the form of Exhibit
A or such other form as shall be approved by the Administrative Agent.

“Attributable Indebtedness” shall mean, when used with respect to any Sale and Lease-Back
Transaction, as at the time of determination, the present value (discounted at a rate equivalent to
the Borrower’s then-current weighted average cost of funds for borrowed money as at the time of
determination, compounded on a semi-annual basis) of the total obligations of the lessee for rental
payments (and substantially similar payments) during the remaining term of the lease included in
any such Sale and Lease-back Transaction.

“Available Cash” shall mean, at any time of determination, an amount equal to (a) 100% of the
Available Excess Cash Flow Amount at such time, minus (b) the sum of Available Cash used
prior to such time to pay cash dividends pursuant to Section 6.06(a)(v), minus (c)
the sum of Available Cash used by the Borrower prior to such time to make loans or advances to
Parent Holdings pursuant to Section 6.04(c)(iii), minus (d) without duplication of
clauses (b) and (c), the aggregate amount of Restricted Payments and Investments made in cash on or
after the first date of the first fiscal year (or portion thereof) in which there is an Available
Excess Cash Flow Amount by the Borrower or any Subsidiary Guarantor that is a subsidiary of the
Borrower prior to such time (other than, in the case of this clause (d), without duplication, any
Restricted Payments and/or Investments financed with the proceeds of Indebtedness, equity
issuances, casualty proceeds, condemnation proceeds, insurance proceeds or other amounts or
proceeds that would not be included in Consolidated EBITDA, in each case issued, incurred or
received, as applicable, at or prior to such time of determination).

 

3

 

“Available Excess Cash Flow Amount” shall mean, at any time of determination, an amount equal
to (a) the sum of the amounts of Excess Cash Flow for all Excess Cash Flow Periods ending on or
prior to the date of determination, plus (b) the amount of cash common equity contributions
received by the Borrower from Parent Holdings (through RDC) that are not concurrently and have not
previously been applied or utilized for any other purpose, minus (c) the sum at the time of
determination of the
aggregate amount of prepayments required to be made pursuant to Section 2.10(b)
through the time of determination (after giving effect to Section 2.10(g)); provided that,
with respect to amounts contributed to the Borrower pursuant to clause (b) of this definition,
substantially concurrently with the making of such cash common equity contributions by Parent
Holdings, a Financial Officer of Parent Holdings shall deliver a certificate to the Administrative
Agent certifying (i) the date on which such equity contribution was, or will be, made, (ii) the
amount of such equity contribution received, or to be received, by the Borrower, and (iii) that
such equity contribution is being or will be made pursuant to clause (b) of the definition of
“Available Excess Cash Flow Amount” and will be applied in accordance with the definition of
“Available Cash.”

“Board” shall mean the Board of Governors of the Federal Reserve System of the United States
of America.

“Borrower” shall have the meaning assigned to such term in the introductory statement to this
Agreement.

“Borrower Materials” shall have the meaning assigned to such term in Section 9.01.

“Borrower Mortgage” shall mean the Real Estate Mortgage, Assignment of Rents, Security
Agreement and UCC Fixture Filing, dated as of the date hereof, made and delivered by the Borrower
to the Administrative Agent and Collateral Agent.

“Borrowing Request” shall mean a request by the Borrower in accordance with the terms of
Section 2.02 and substantially in the form of Exhibit B, or such other form as
shall be approved by the Administrative Agent.

“Breakage Event” shall have the meaning assigned to such term in Section 2.19.

“Business Day” shall mean any day other than a Saturday, Sunday, a day on which banks in New
York City are authorized or required by law to close and, if any Loan accrues interest at the LIBO
Rate, a day on which banks are not open for dealings in Dollar deposits in the London interbank
market.

“Capital Expenditures” shall mean, for any period, (a) the additions to property, plant and
equipment and other capital expenditures of the Borrower and its consolidated subsidiaries that are
(or should be) set forth in a consolidated statement of cash flows of the Borrower for such period
prepared in accordance with GAAP, (b) Capital Lease Obligations or Synthetic Lease Obligations
incurred by the Borrower and its consolidated subsidiaries during such period and (c) without
duplication of clauses (a) and (b), any amounts or other consideration (whether in the form of cash
or otherwise, but excluding any carbon credits or similar allowances to the extent such credits or
allowances are shared with any entity that is not Affiliated with the Borrower) paid or payable,
directly or indirectly, by the Borrower or any of its consolidated subsidiaries during such period
to install, maintain or improve equipment leased to, or owned by, the Borrower on property owned by
the Borrower for the purpose of reducing regulated or greenhouse gas emissions or for the purpose
of, or having the effect of, reducing carbon emissions and/or generating carbon credits or similar
allowances, but excluding in each case above (i) any such expenditure made to restore, replace or
rebuild property to the condition of such property immediately prior to any damage, loss,
destruction or condemnation of such property, to the extent such expenditure is made with insurance
proceeds, condemnation awards or damage recovery proceeds relating to any such damage, loss,
destruction or condemnation and (ii) any amounts expended by the Borrower and its consolidated
subsidiaries that would otherwise qualify as Capital Expenditures for which Borrower or its
consolidated subsidiary is paid or reimbursed in cash within 90 days from the date of such
expenditure by the Borrower or such consolidated subsidiary by a Governmental Authority to the
extent the payment or reimbursement
was made by the Governmental Authority to the Borrower or its consolidated subsidiary for the
purpose of allowing the Borrower or its consolidated subsidiary to make expenditures that would
otherwise qualify as Capital Expenditures.

 

4

 

“Capital Lease Obligations” of any Person shall mean the obligations of such Person to pay
rent or other amounts under any lease of (or other arrangement conveying the right to use) real or
personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of
such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

“Carry-Over Amount” shall have the meaning assigned to such term in Section 6.10.

A “Change in Control” shall be deemed to have occurred if (a) any “person” or “group” (within
the meaning of Rule 13d-5 of the Securities Exchange Act of 1934 as in effect on the date hereof)
shall own, directly or indirectly, beneficially or of record, shares representing more than 35% of
the aggregate ordinary voting power represented by the issued and outstanding capital stock of
Parent Holdings, (b) any change in control (or similar event, however denominated) with respect to
Parent Holdings, RDC, the Borrower or any Subsidiary Guarantor shall occur under and as defined in
any indenture or agreement in respect of Material Indebtedness to which Parent Holdings, the
Borrower or any Subsidiary Guarantor is a party, (c) Parent Holdings shall cease to directly own,
beneficially and of record, 100% of the issued and outstanding Equity Interests of RDC or (d) RDC
shall cease to directly own, beneficially and of record, 100% of the issued and outstanding Equity
Interests of the Borrower.

“Change in Law” shall mean (a) the adoption of any law, rule or regulation after the date of
this Agreement, (b) any change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this Agreement or (c)
compliance by any Lender (or, for purposes of Section 2.17, by any lending office of such
Lender or by such Lender’s holding company, if any) with any request, guideline or directive
(whether or not having the force of law) of any Governmental Authority made or issued after the
date of this Agreement; provided that, notwithstanding anything herein to the contrary, (x) the
Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or
directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or
directives promulgated by the Bank for International Settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or United States or foreign regulatory
authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in
Law,” regardless of the date enacted, adopted or issued.

“Charges” shall have the meaning assigned to such term in Section 9.09.

“Citi” shall have the meaning assigned to such term in Section 5.13.

“Citi Account Transactions” shall have the meaning assigned to such term in Section
5.13.

“Citi Control Agreements” shall have the meaning assigned to such term in Section
5.13.

“Citi Deposit Accounts” shall have the meaning assigned to such term in Section 5.13.

“Closing Date” shall mean June 10, 2011.

“Closing Date Dividend” shall have the meaning assigned to such term in the introductory
statement to this Agreement.

 

5

 

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

“Collateral” shall mean all the “Collateral” as defined in any Security Document and shall
also include the Mortgaged Properties and any other assets or property of any Loan Party in which a
Lien is granted pursuant to the Loan Documents to secure the Obligations (or any portion thereof).

“Collateral Agent” shall have the meaning assigned to such term in the introductory statement
to this Agreement.

“Commitment” shall mean, with respect to each Lender, the commitment of such Lender to make
Loans hereunder as set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant
to which such Lender assumed its Commitment(s), as applicable, as the same may be (a) reduced from
time to time pursuant to Section 2.08 and (b) reduced or increased from time to time
pursuant to assignments by or to such Lender pursuant to Section 9.04. Unless the context
shall otherwise require, the term “Commitment,” with respect to each Lender, shall include the
Incremental Loan Commitment(s) of such Lender.

“Communications” shall have the meaning assigned to such term in Section 9.01.

“Confidential Information Memorandum” shall mean the Confidential Information Memorandum of
the Borrower dated May 1, 2011.

“Consolidated EBITDA” shall mean, for any period, Consolidated Net Income for such period
plus (a) without duplication and to the extent deducted in determining such Consolidated
Net Income, the sum of (i) Consolidated Interest Expense for such period, (ii) consolidated income
tax expense for such period, (iii) all amounts attributable to depreciation and amortization for
such period, (iv) any extraordinary non-cash reserves or other extraordinary non-cash charges
(other than (A) the write-down of current assets, and (B) any reserves or charges in respect of
restructuring fees, costs or expenses), (v) the write-off of financing fees capitalized by the
Borrower prior to the Closing Date in respect of financings undertaken by the Borrower and its
subsidiaries prior to the Closing Date in an aggregate amount not in excess of $1,500,000) in each
case, for such period, (vi) any non-cash management fees and expenses allocated to the Borrower in
its financial statements for such period delivered pursuant to and in accordance with Section
5.04(d), in each case as and to the extent payable under the Management Agreement and permitted
under Section 6.06(a)(iv), for such period, (vii) Transaction Costs and, without
duplication, Existing Credit Agreement Costs paid during such period and (viii) reasonable fees and
expenses paid during such period in connection with financings and Investments by the Borrower and
its subsidiaries in accordance with this Agreement during such period, to the extent such fees are
not paid, directly or indirectly, to any Person that is an Affiliate of Parent Holdings or any of
its Affiliates, and minus (b) without duplication (i) all cash payments made during such
period on account of any extraordinary non-cash reserves or other extraordinary non-cash charges
added to Consolidated Net Income pursuant to clause (a)(iv) above in a previous period and (ii) to
the extent included in determining such Consolidated Net Income, any extraordinary gains and all
non-cash items of income for such period, all determined on a consolidated basis for the Borrower
and its subsidiaries in accordance with GAAP. For purposes of determining the Interest Coverage
Ratio and the Leverage Ratio, the Consolidated EBITDA of the Borrower and its subsidiaries shall be
deemed to be (i) $10,017,000 for the fiscal quarter of the Borrower ended September 30, 2010, (ii)
$17,553,000 for the fiscal quarter of the Borrower ended December 31, 2010 and (iii) $10,839,500
for the fiscal quarter of the Borrower ended March 31, 2011.

 

6

 

“Consolidated Interest Expense” shall mean, for any period, the sum of (a) the interest
expense (including, without duplication, imputed interest expense in respect of Capital Lease
Obligations, Attributable Indebtedness and Synthetic Lease Obligations) of the Borrower and its
subsidiaries for such
period, determined on a consolidated basis in accordance with GAAP, plus (b) any interest
accrued during such period in respect of Indebtedness of the Borrower or any of its subsidiaries
that is required to be capitalized rather than included in consolidated interest expense for such
period in accordance with GAAP (excluding, for the avoidance of doubt, the amortization of original
issue discount in connection with the Loans). For purposes of the foregoing, interest expense
shall be determined after giving effect to any net payments made or received by the Borrower or any
of its subsidiaries with respect to interest rate Hedging Agreements; provided that, for purposes
of making any calculation hereunder during an Insolvency Proceeding, such net payments shall be
given effect only to the extent the underlying netting agreements are legally enforceable in such
Insolvency Proceeding. For purposes of determining the Interest Coverage Ratio for the period of
four consecutive quarters ending June 30, 2011, September 30, 2011 and December 31, 2011,
respectively, Consolidated Interest Expense shall be deemed to be equal to (a) the Consolidated
Interest Expense for the fiscal quarter ending June 30, 2011, multiplied by four, (b) the
Consolidated Interest Expense for the two consecutive fiscal quarters ending September 30, 2011,
multiplied by two, and (c) the Consolidated Interest Expense for the three consecutive fiscal
quarters ending December 31, 2011, multiplied by 4/3, respectively.

“Consolidated Net Income” shall mean, for any period, the net income or loss of the Borrower
and its subsidiaries for such period determined on a consolidated basis in accordance with GAAP;
provided that there shall be excluded (a) the income of any subsidiary to the extent that the
declaration or payment of dividends or similar distributions by any subsidiary of the Borrower of
that income is not at the time permitted by operation of the terms of its charter or any agreement,
instrument, judgment, decree, statute, rule or governmental regulation applicable to such
subsidiary, (b) the income or loss of any Person accrued prior to the date it becomes a subsidiary
of the Borrower or is merged into or consolidated with the Borrower or any of its subsidiaries or
the date that such Person’s assets are acquired by the Borrower or any of its subsidiaries, (c) the
income or loss of any Person in which any other Person (other than Borrower or a Wholly Owned
Subsidiary or any director holding qualifying shares in accordance with applicable law) has a joint
interest, except to the extent of the amount of dividends or other distributions actually paid to
the Borrower or a Wholly Owned Subsidiary that is a Subsidiary Guarantor by such Person during such
period, and (d) any gains or losses attributable to sales of assets out of the ordinary course of
business.

“Control” shall mean the possession, directly or indirectly, of the power to direct or cause
the direction of the management or policies of a Person, whether through the ownership of voting
securities, by contract or otherwise, and the terms “Controls” and “Controlled” shall have meanings
correlative thereto.

“Credit Facility” shall mean the term loan facility provided for by this Agreement.

“Debtor Relief Laws” shall mean the Bankruptcy Code of the United States of America, and all
other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors,
moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws
of the United States or other applicable jurisdictions from time to time in effect.

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

 

7

 

“Defaulting Lender” shall mean, subject to Section 2.22(b), any Lender that (a) has
failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans
were required to be funded hereunder unless such Lender notifies the Administrative Agent and the
Borrower in writing that such failure is the result of such Lender’s determination that one or more
conditions precedent to funding (each of which conditions precedent, together with any applicable
default, shall be specifically identified
in such writing) has not been satisfied, or (ii) pay to the Administrative Agent or any Lender
any other amount required to be paid by it hereunder within two Business Days of the date when due,
(b) has notified the Borrower or the Administrative Agent in writing that it does not intend to
comply with its funding obligations hereunder, or has made a public statement to that effect
(unless such writing or public statement relates to such Lender’s obligation to fund a Loan
hereunder and states that such position is based on such Lender’s determination that a condition
precedent to funding (which condition precedent, together with any applicable default, shall be
specifically identified in such writing or public statement) cannot be satisfied), (c) has failed,
within three Business Days after written request by the Administrative Agent or the Borrower, to
confirm in writing to the Administrative Agent and the Borrower that it will comply with its
prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting
Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative
Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i)
become the subject of a proceeding under any Debtor Relief Law, or (ii) had appointed for it a
receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or
similar Person charged with reorganization or liquidation of its business or assets, including the
Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in
such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the
ownership or acquisition of any equity interest in that Lender or any direct or indirect parent
company thereof by a Governmental Authority so long as such ownership interest does not result in
or provide such Lender with immunity from the jurisdiction of courts within the United States or
from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or
such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements
made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting
Lender under clauses (a) through (d) above shall be conclusive and binding absent manifest error,
and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.22(b)) upon
delivery of written notice of such determination to the Borrower and each Lender.

“Deposit Account Control Agreements” shall mean those certain cash management agreements, in
form and substance satisfactory to the Collateral Agent, each of which is among one or more of the
Loan Parties, the Collateral Agent, and a depositary bank.

“Disqualified Stock” shall mean any Equity Interest that, by its terms (or by the terms of any
security into which it is convertible or for which it is exchangeable), or upon the happening of
any event (other than a “change of control”), (a) matures (excluding any maturity as the result of
an optional redemption by the issuer thereof) or is mandatorily redeemable, pursuant to a sinking
fund obligation or otherwise, or is redeemable at the option of the holder thereof, in whole or in
part, or requires the payment of any cash dividend or any other scheduled payment constituting a
return of capital, in each case at any time on or prior to the first anniversary of the Final
Maturity Date, or (b) is convertible into or exchangeable (unless at the sole option of the issuer
thereof) for (i) debt securities or (ii) any Equity Interest referred to in clause (a) above, in
each case at any time prior to the first anniversary of the Final Maturity Date.

“Dollars” or “$” shall mean lawful money of the United States of America.

“Domestic Subsidiaries” shall mean all Subsidiaries incorporated or organized under the laws
of the United States of America, any State thereof or the District of Columbia (but excluding
Inactive Subsidiaries).

 

8

 

“Eligible Assignee” means (i) a Lender, (ii) an Affiliate of a Lender, (iii) a Related Fund of
a Lender, and (iv) any other Person (other than a natural person) approved in writing by the
Administrative Agent and, unless an Event of Default has occurred and is continuing, the Borrower
(each such approval
not to be unreasonably withheld or delayed; provided that the Borrower shall be deemed to have
approved such Person as an Eligible Assignee unless it shall object thereto by written notice to
the Administrative Agent within 7 Business Days after having received notice thereof); provided,
further, that notwithstanding the foregoing, “Eligible Assignee” shall not include (A) the Borrower
or any of the Borrower’s Affiliates or (B) any Defaulting Lender or any of its subsidiaries, or any
Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons
described in this clause (B).

“Engagement Letter” shall mean the Engagement Letter dated May 2, 2011, among the Borrower,
Rentech Services Corporation and the Lead Arranger.

“Environmental Laws” shall mean all former, current and future Federal, state, local and
foreign laws (including common law), treaties, regulations, rules, ordinances, codes, decrees,
judgments, directives, orders (including consent orders), and agreements in each case, relating to
protection of the environment, natural resources, human health and safety or the presence, Release
of, or exposure to, Hazardous Materials, or the generation, manufacture, processing, distribution,
use, treatment, storage, transport, recycling or handling of, or the arrangement for such
activities with respect to, Hazardous Materials.

“Environmental Liability” shall mean all liabilities, obligations, damages, losses, claims,
actions, suits, judgments, orders, fines, penalties, liens, fees, expenses and costs (including
administrative oversight costs, natural resource damages and remediation costs), whether contingent
or otherwise, arising out of or relating to (a) compliance or non-compliance with any Environmental
Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any
Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the Release of any Hazardous
Materials or (e) any contract, agreement or other consensual arrangement pursuant to which
liability is assumed or imposed with respect to any of the foregoing.

“Equity Interests” shall mean shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other equity interests
in any Person, and any option, warrant or other right entitling the holder thereof to purchase or
otherwise acquire any such equity interest (but, for the avoidance of doubt, not including
Indebtedness convertible or exchangeable into Qualified Capital Stock of Parent Holdings unless and
until so converted or exchanged).

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as the same may be
amended from time to time.

“ERISA Affiliate” shall mean any trade or business (whether or not incorporated) that,
together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the
Code, or solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a
single employer under Section 414 of the Code.

“ERISA Event” shall mean (a) any “reportable event”, as defined in Section 4043 of ERISA or
the regulations issued thereunder, with respect to a Plan (other than an event for which the 30-day
notice period is waived), (b) the existence with respect to any Plan of an “accumulated funding
deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived,
(c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application
for a waiver of the minimum funding standard with respect to any Plan, (d) the incurrence by the
Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to
the termination of any Plan or the withdrawal or partial withdrawal of the Borrower or any of its
ERISA Affiliates from any Plan or Multiemployer Plan, (e) the receipt by the Borrower or any of its
ERISA Affiliates from the PBGC or a

 

9

 

 plan administrator of any notice relating to the intention to
terminate any Plan or Plans or to appoint a trustee to administer any Plan, (f) the adoption of any amendment to a Plan that would require
the provision of security pursuant to Section 401(a)(29) of the Code or Section 307 of ERISA, (g)
the receipt by the Borrower or any of its ERISA Affiliates of any notice, or the receipt by any
Multiemployer Plan from the Borrower or any of its ERISA Affiliates of any notice, concerning the
imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected
to be, insolvent or in reorganization, within the meaning of Title IV of ERISA, (h) the occurrence
of a “prohibited transaction” with respect to which the Borrower or any of the Subsidiaries is a
“disqualified person” (within the meaning of Section 4975 of the Code) or with respect to which the
Borrower or any such Subsidiary could otherwise be liable, (i) any Foreign Benefit Event or (j) any
other event or condition with respect to a Plan or Multiemployer Plan that could result in
liability of the Borrower or any Subsidiary, other than for benefits payable pursuant to the terms
of the Multiemployer Plan or Plan.

“Eurodollar”, when used in reference to any Loan, refers to whether such Loan is bearing
interest at a rate determined by reference to the Adjusted LIBO Rate.

“Events of Default” shall have the meaning assigned to such term in Article VII.

“Excess Cash Flow” shall mean, for any Excess Cash Flow Period, the excess of:

(a) the sum, without duplication, of

(i) Consolidated Net Income for such Excess Cash Flow Period;

(ii) all amounts attributable to depreciation and amortization of the Borrower and its
subsidiaries for such Excess Cash Flow Period;

(iii) non-cash charges, expenses or losses (including any non-cash interest expense) of the
Borrower and its subsidiaries for such Excess Cash Flow Period to the extent deducted from
Consolidated Net Income for such Excess Cash Flow Period and added to net income in the statement
of cash flows for such Excess Cash Flow Period in accordance with GAAP; and

(iv) decreases in Non-Cash Working Capital for such Excess Cash Flow Period; over

(b) the sum, without duplication, of

(i) Capital Expenditures made by the Borrower and its subsidiaries in accordance with
Section 6.10 during such Excess Cash Flow Period, except to the extent financed with the
proceeds of Indebtedness, equity issuances, casualty proceeds, condemnation proceeds or other
proceeds that would not be included in Consolidated Net Income;

(ii) scheduled amortization payments of Loans pursuant to Section 2.08(a) made during
such Excess Cash Flow Period and paid in cash;

(iii) permanent repayments during such fiscal year in respect of Indebtedness (other than the
Loans) and other long-term liabilities of the Borrower and its subsidiaries, in each case paid in
cash during such Excess Cash Flow Period, (A) except to the extent financed with the proceeds of
Indebtedness, equity issuances, casualty proceeds, condemnation proceeds or other proceeds that
would not be included in Consolidated Net Income, and (B) only to the extent that the Indebtedness
and other liabilities so repaid by their terms cannot be reborrowed, reincurred or redrawn and such
repayments do not occur in connection with a refinancing of all or any portion of such Indebtedness
or other obligations;

 

10

 

(iv) non-cash gains and income (including any non-cash interest income) of the Borrower and
its subsidiaries for such Excess Cash Flow Period to the extent added to Consolidated Net Income
for such Excess Cash Flow Period and deducted from net income in the statement of cash flows for
such Excess Cash Flow Period in accordance with GAAP; and

(v) increases in Non-Cash Working Capital for such Excess Cash Flow
Period;

provided that, solely with respect to the Excess Cash Flow Period beginning with the day
immediately following the Closing Date and ending on September 30, 2011, Excess Cash Flow will be
equal to the sum of (x) Excess Cash Flow, calculated as if such Excess Cash Flow Period began on
July 1, 2011 rather than the day immediately following the Closing Date, and (y) the Borrower’s
estimate, prepared in good faith based upon reasonable assumptions, of Excess Cash Flow
attributable to the period from the day immediately following the Closing Date and ending on June
30, 2011.

“Excess Cash Flow Period” shall mean (i) the period taken as one accounting period from the
day immediately following the Closing Date and ending on September 30, 2011 and (ii) each fiscal
year of the Borrower thereafter.

“Excluded Subsidiary” shall mean (i) any Project Holdco, (ii) any Project Entity, or (iii) any
Inactive Subsidiary.

“Excluded Taxes” shall mean, with respect to the Administrative Agent, any Lender or any other
recipient of any payment to be made by or on account of any obligation of the Borrower hereunder,
(a) Taxes imposed on (or measured by) its net income by the United States of America, or by the
jurisdiction under the laws of which such recipient is organized or in which its principal office
is located or, in the case of any Lender, in which its applicable lending office is located, (b)
any branch profits Taxes imposed by the United States of America or any similar Tax imposed by any
other jurisdiction described in clause (a) above, (c) in the case of a Foreign Lender, any
withholding Tax that (i) is imposed on amounts payable to such Foreign Lender (other than an
assignee pursuant to a request by the Borrower under Section 2.16(a)) at the time such
Foreign Lender becomes a party to this Agreement (or designates a new lending office), except to
the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of
designation of a new lending office (or assignment), to receive additional amounts from the
Borrower with respect to such withholding Tax pursuant to Section 2.15(a), or (ii) is
attributable to such Foreign Lender’s failure to comply with Section 2.15(e) and (d) any
Taxes imposed under FATCA.

“Existing Credit Agreement” shall have the meaning assigned to such term in the introductory
statement to this Agreement.

“Existing Credit Agreement Costs” shall mean any payment premium or other fee paid or payable
by the Borrower to the holders of the indebtedness under the Existing Credit Agreement pursuant to
the Waiver.

“FATCA” shall mean Sections 1471 to 1474 of the Code, as in effect as of the date of this
Agreement and any current or future regulations or official interpretations thereof.

“Federal Funds Effective Rate” shall mean, for any day, the weighted average of the rates on
overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal
funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New
York, or, if such rate is not so published for any day that is a Business Day, the average of the
quotations for the day for such transactions received by the Administrative Agent from three
Federal funds brokers of recognized standing selected by it.

 

11

 

“Fees” shall have the meaning assigned to such term in Section 2.04(b).

“Final Maturity Date” shall mean the later of (i) the Maturity Date and (ii) the latest to
occur of the Incremental Loan Maturity Dates (if any).

“Financial Officer” of any Person shall mean the chief financial officer, principal accounting
officer, treasurer, assistant treasurer or controller of such Person.

“Foreign Benefit Event” shall mean, with respect to any Foreign Pension Plan, (a) the
existence of unfunded liabilities in excess of the amount permitted under any applicable law, or in
excess of the amount that would be permitted absent a waiver from a Governmental Authority, (b) the
failure to make the required contributions or payments, under any applicable law, on or before the
due date for such contributions or payments, (c) the receipt of a notice by a Governmental
Authority relating to the intention to terminate any such Foreign Pension Plan or to appoint a
trustee or similar official to administer any such Foreign Pension Plan, or alleging the insolvency
of any such Foreign Pension Plan, (d) the incurrence of any liability in excess of $1,000,000 by
Parent Holdings, the Borrower or any Subsidiary under applicable law on account of the complete or
partial termination of such Foreign Pension Plan or the complete or partial withdrawal of any
participating employer therein, or (e) the occurrence of any transaction that is prohibited under
any applicable law and that could reasonably be expected to result in the incurrence of any
liability by Parent Holdings, the Borrower or any of the Subsidiaries, or the imposition on Parent
Holdings, the Borrower or any of the Subsidiaries of any fine, excise tax or penalty resulting from
any noncompliance with any applicable law, in each case in excess of $1,000,000.

“Foreign Lender” shall mean, for purposes of Section 2.15(e) and the definition of
Excluded Taxes, (i) the Administrative Agent (so long as the Administrative Agent is organized
under the laws of a jurisdiction other than that in which the Borrower is located) and (ii) any
Lender or any other recipient of any payment to be made by or on account of any obligation of the
Borrower hereunder that is organized under the laws of a jurisdiction other than that in which the
Borrower is located. For purposes of this definition, the United States of America, each State
thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.

“Foreign Pension Plan” shall mean any benefit plan that under applicable law is required to be
funded through a trust or other funding vehicle other than a trust or funding vehicle maintained
exclusively by a Governmental Authority.

“Foreign Subsidiary” shall mean any Subsidiary that is not a Domestic Subsidiary.

“GAAP” shall mean United States generally accepted accounting principles applied on a basis
consistent with the financial statements delivered pursuant to Section 4.01(j).

“Governmental Authority” shall mean any Federal, state, local or foreign court or governmental
agency, authority, instrumentality or regulatory body.

“Granting Lender” shall have the meaning assigned to such term in Section 9.04(i).

“Guarantee” of or by any Person shall mean any obligation, contingent or otherwise, of such
Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other
obligation of any other Person (the “primary obligor”) in any manner, whether directly or
indirectly, and including any obligation of such Person, direct or indirect, (a) to purchase or pay
(or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation
or to purchase (or to advance or supply
funds for the purchase of) any security for the payment of such Indebtedness or other
obligation, (b) to purchase or lease property, securities or services for the purpose of assuring
the owner of such Indebtedness or other obligation of the payment of such Indebtedness or other
obligation or (c) to maintain working capital, equity capital or any other financial statement
condition or liquidity of the primary obligor so as to enable the primary obligor to pay such
Indebtedness or other obligation; provided, however, that the term “Guarantee” shall not include
endorsements for collection or deposit in the ordinary course of business.

 

12

 

“Guarantee and Collateral Agreement” shall mean the Guarantee and Collateral Agreement,
substantially in the form of Exhibit C, among the Borrower, Parent Holdings, the
Subsidiaries party thereto and the Collateral Agent for the benefit of the Secured Parties.

“Guarantors” shall mean Parent Holdings and the Subsidiary Guarantors.

“Hazardous Materials” shall mean (a) any petroleum products or byproducts and all other
hydrocarbons, coal ash, radon gas, asbestos, urea formaldehyde foam insulation, polychlorinated
biphenyls, chlorofluorocarbons and all other ozone-depleting substances and (b) any chemical,
material, substance or waste that is prohibited, limited or regulated by or pursuant to any
Environmental Law.

“Hedging Agreement” shall mean any interest rate protection agreement, foreign currency
exchange agreement, commodity price protection agreement or other interest or currency exchange
rate or commodity price hedging arrangement.

“Inactive Subsidiary” shall mean, as of any date of determination, any Subsidiary that (a)
does not conduct any business operations, (b) has assets (including Equity Interests) with a book
value not in excess of $250,000 on such date and (c) does not have any Indebtedness, or commitments
or obligations to incur Indebtedness, outstanding on such date.

“Incremental Lender” shall mean a Lender with an Incremental Loan Commitment or an outstanding
Incremental Loan.

“Incremental Loan Amount” shall mean, at any time, the excess, if any, of (a) $25,000,000 over
(b) the aggregate amount of all Incremental Loan Commitments established prior to such time
pursuant to Section 2.21.

“Incremental Loan Assumption Agreement” shall mean an Incremental Loan Assumption Agreement
among, and in form and substance reasonably satisfactory to, the Borrower, the Administrative Agent
and one or more Incremental Lenders.

“Incremental Loan Closing Date” shall mean the closing date of any Incremental Loans as set
forth in the applicable Incremental Loan Assumption Agreement.

“Incremental Loan Commitment” shall mean the commitment of any Lender, established pursuant to
Section 2.21, to make Incremental Loans to the Borrower.

“Incremental Loan Maturity Date” shall mean the final maturity date of any Incremental Loan,
as set forth in the applicable Incremental Loan Assumption Agreement.

“Incremental Loan Repayment Dates” shall mean the dates scheduled for the repayment of
principal of any Incremental Loan, as set forth in the applicable Incremental Loan Assumption
Agreement.

 

13

 

“Incremental Loans” shall mean Loans made by one or more Lenders to the Borrower pursuant to
Section 2.01(b). Incremental Loans may be made in the form of additional Loans or, to the
extent permitted by Section 2.21 and provided for in the relevant Incremental Loan
Assumption Agreement, Other Loans.

“Indebtedness” of any Person shall mean, without duplication, (a) all obligations of such
Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations
of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of
such Person upon which interest charges are customarily paid, (d) all obligations of such Person
under conditional sale or other title retention agreements relating to property or assets purchased
by such Person, (e) all obligations of such Person issued or assumed as the deferred purchase price
of property or services (excluding trade accounts payable and accrued obligations incurred in the
ordinary course of business and, in each case, not overdue by more than 179 days), (f) all
Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing
right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such
Person, whether or not the obligations secured thereby have been assumed, (g) all Guarantees by
such Person of Indebtedness of others, (h) all Capital Lease Obligations of such Person, (i) all
Synthetic Lease Obligations of such Person, (j) net obligations of such Person under any Hedging
Agreements, valued at the Agreement Value thereof, (k) all obligations of such Person to purchase,
redeem, retire, defease or otherwise make any payment in respect of any Equity Interests of such
Person or any other Person or any warrants, rights or options to acquire such Equity Interests,
valued, in the case of redeemable preferred interests, at the greater of its voluntary or
involuntary liquidation preference plus accrued and unpaid dividends, (l) all obligations of such
Person as an account party in respect of letters of credit and (m) all obligations of such Person
in respect of bankers’ acceptances. The Indebtedness of any Person shall include the Indebtedness
of any partnership in which such Person is a general partner.

“Indemnified Taxes” shall mean Taxes other than Excluded Taxes.

“Indemnitee” shall have the meaning assigned to such term in Section 9.05(b).

“Information” shall have the meaning assigned to such term in Section 9.16.

“Insolvency Proceeding” shall mean (i) any case, action or proceeding before any court or
other Governmental Authority relating to bankruptcy, reorganization, insolvency, liquidation,
receivership, dissolution, winding-up or relief of debtors, or (ii) any general assignment for the
benefit of creditors, formal or informal moratorium, composition, marshaling of assets for
creditors or other, similar arrangement in respect of its creditors generally or any substantial
portion of its creditors, in each case, undertaken under United States federal or state or foreign
applicable laws, including Title 11 of the United States Code.

“Insurance Proceeds” shall mean any proceeds of insurance (excluding, except in the case of a
Material Casualty Event, proceeds of business interruption insurance to the extent such proceeds
constitute compensation for lost earnings), received by or paid to or for the account of any Loan
Party.

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

“Interest Payment Date” shall mean (a) with respect to any ABR Loan, the last Business Day of
each March, June, September and December, and (b) with respect to any Eurodollar Loan, the last day
of the Interest Period applicable to such Loan and, in the case of a Eurodollar Loan with an
Interest Period of more than three months’ duration, each day that would have been an Interest
Payment Date had successive Interest Periods of three months’ duration been applicable to such
Loan.

 

14

 

“Interest Period” shall mean, with respect to any Eurodollar Loan, the period commencing on
the date of such Loan and ending on the numerically corresponding day (or, if there is no
numerically corresponding day, on the last day) in the calendar month that is 1, 2, 3 or 6 months
thereafter, as the Borrower may elect; provided, however, that (a) if any Interest Period would end
on a day other than a Business Day, such Interest Period shall be extended to the next succeeding
Business Day unless such next succeeding Business Day would fall in the next calendar month, in
which case such Interest Period shall end on the next preceding Business Day, (b) any Interest
Period that begins on the last Business Day of a calendar month (or on a day for which there is no
numerically corresponding day in the calendar month at the end of such Interest Period) shall end
on the last Business Day of the calendar month at the end of such Interest Period and (c) no
Interest Period for any Loan shall extend beyond the Maturity Date or, in the case of any
Incremental Loan, the relevant Incremental Loan Maturity Date. Interest shall accrue from and
including the first day of an Interest Period to but excluding the last day of such Interest
Period.

“Investments” shall have the meaning assigned to such term in Section 6.04.

“Lead Arranger” shall mean Credit Suisse Securities (USA) LLC.

“Lenders” shall mean (a) the Persons listed on Schedule 2.01 (other than any such
Person that has ceased to be a party hereto pursuant to an Assignment and Acceptance), (b) any
Person that has become a party hereto pursuant to an Assignment and Acceptance, and (c) any Person
that has become a party hereto pursuant to an Incremental Loan Assumption Agreement.

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

“LIBO Rate” shall mean, with respect to any Eurodollar Loan for any Interest Period, the rate
per annum determined by the Administrative Agent at approximately 11:00 a.m. (London time) on the
date that is two Business Days prior to the commencement of such Interest Period by reference to
the British Bankers’ Association Interest Settlement Rates for deposits in Dollars (as set forth by
any service selected by the Administrative Agent that has been nominated by the British Bankers’
Association as an authorized information vendor for the purpose of displaying such rates) for a
period equal to such Interest Period; provided that, to the extent that an interest rate is not
ascertainable pursuant to the foregoing provisions of this definition, the “LIBO Rate” shall be the
interest rate per annum determined by the Administrative Agent to be the average of the rates per
annum at which deposits in Dollars are offered for such Interest Period to major banks in the
London interbank market in London, England by the Administrative Agent at approximately 11:00 a.m.
(London time) on the date that is two Business Days prior to the beginning of such Interest Period.

“Lien” shall mean, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge,
encumbrance, charge or security interest in or on such asset, (b) the interest of a vendor or a
lessor under any conditional sale agreement, capital lease or title retention agreement (or any
financing lease having substantially the same economic effect as any of the foregoing) relating to
such asset and (c) in the case of securities, any purchase option, call or similar right of a third
party with respect to such securities.

 

15

 

“Loan Documents” shall mean this Agreement, the Security Documents, each Incremental Loan
Assumption Agreement, the promissory notes, if any, executed and delivered pursuant to Section
2.03(e) and, except for purposes of Section 9.08(b), the Engagement Letter.

“Loan Parties” shall mean Parent Holdings, the Borrower and the Subsidiary Guarantors.

“Loans” shall mean the term loans made by the Lenders to the Borrower pursuant to Section
2.01. Unless the context otherwise requires, the term “Loans” shall include any Incremental
Loans.

“Management Agreement” shall mean that certain Management Services Agreement, dated as of
April 26, 2006, by and between the Borrower (as successor to Royster-Clark Nitrogen, Inc.) and
Parent Holdings.

“Management Fees” shall mean any fees, costs, expenses or other amounts (whether structured as
a fee, an underwriting discount or otherwise) payable, directly or indirectly, to or for the
benefit of Parent Holdings or any of its Subsidiaries (other than the Borrower and any subsidiary
of the Borrower that is a Subsidiary Guarantor) in respect of management, consulting, financial
advisory, financing, underwriting or placement services or other investment banking activities
provided by or on behalf of, Parent Holdings or any its Affiliates to or for the benefit, directly
or indirectly, of any of Parent Holdings’ Affiliates, whether payable, earned or otherwise provided
for pursuant to a management agreement or otherwise.

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

“Market Capitalization” shall mean, with respect to Parent Holdings, as of any date of
determination, the product of (a) the number of issued and outstanding shares of common stock of
Parent Holdings on such date of determination, multiplied by (b) the average closing price per
share of common stock of Parent Holdings for the 30-day period ending on such date of
determination, as quoted on Bloomberg’s interval average screen.

“Material Adverse Effect” shall mean (a) a materially adverse effect on the business, assets,
liabilities, operations, condition (financial or otherwise), operating results or prospects of (x)
Parent Holdings and the Subsidiaries, taken as a whole, or (y) the Borrower individually, (b) a
material impairment of the ability of the Borrower individually or the other Loan Parties, taken as
a whole, to perform its or their obligations under the Loan Documents, or (c) a material impairment
of the rights and remedies of or benefits available to the Lenders under any Loan Document.

“Material Casualty Event” shall mean any loss of title or any loss of or damage to or any
destruction of, or condemnation or other taking (including by any Governmental Authority) of, any
portion of the Plant, if the portion of the Plant subject to such loss, damage, destruction,
condemnation or other taking is material to the operation, or income-producing capacity, of the
Plant and cannot be repaired, replaced or restored in accordance with applicable laws (including
the Jo Daviess County, Illinois, County Code, Title 8 (Zoning Regulations) and other applicable
zoning and permitting laws) within 180 days following the occurrence of such loss, damage,
destruction, condemnation or other taking (or, if sooner, within 90 days prior to the Applicable
Maturity Date).

“Material Indebtedness” shall mean Indebtedness (other than the Loans) of any one or more of
Parent Holdings, the Borrower or any Subsidiary Guarantor in an individual principal amount
exceeding (x) in the case of Indebtedness of the Borrower or any of its subsidiaries, $3,000,000
and (y) in the case of Indebtedness of any other Loan Party, $4,000,000. For purposes of
determining Material Indebtedness, the “principal amount” of the obligations of Parent Holdings,
the Borrower or any Subsidiary Guarantor in respect of any Hedging Agreement at any time shall be
the Agreement Value of such Hedging Agreement at such time.

 

16

 

“Maturity Date” shall mean June 10, 2016.

“Maximum Rate” shall have the meaning assigned to such term in Section 9.09.

“Minimum Liquidity Threshold” shall have the meaning set forth in Section 6.17.

“Moody’s” shall mean Moody’s Investors Service, Inc., or any successor thereto.

“Mortgaged Properties” shall mean, initially, the owned real properties of the Loan Parties
specified on Schedule 1.01(c), and shall include each other parcel of owned real property
and improvements thereto with respect to which a Mortgage is granted pursuant to Section
5.12.

“Mortgages” shall mean the mortgages, deeds of trust, assignments of leases and rents,
modifications and other security documents delivered pursuant to Section 4.01(m) or
pursuant to Section 5.12, each in substantially the form of the Borrower Mortgage (subject
to conforming changes to reflect applicable state or local law requirements).

“Multiemployer Plan” shall mean a multiemployer plan as defined in Section 4001(a)(3) of
ERISA.

“Natchez Project” shall mean the Project Entity located at 61 Carthage Point, Natchez, MS
39120.

“Net Cash Proceeds” shall mean:

(a) with respect to any Asset Sale, the cash proceeds (including cash proceeds subsequently
received (as and when received) in respect of noncash consideration initially received), net of (i)
selling expenses (including reasonable broker’s fees or commissions, legal fees, transfer and
similar Taxes and the Borrower’s good faith estimate of income or other Taxes paid or payable in
connection with such sale), (ii) amounts provided as a reserve, in accordance with GAAP, against
any liabilities under any indemnification obligations or purchase price adjustment associated with
such Asset Sale (provided that, to the extent and at the time any such amounts are released from
such reserve, such amounts shall constitute Net Cash Proceeds) and (iii) the principal amount,
premium or penalty, if any, interest and other amounts on any Indebtedness permitted under
Section 6.01 which is secured by Liens permitted under Section 6.02 on the asset
sold in such Asset Sale and which is required to be repaid with such proceeds (other than any such
Indebtedness assumed by the purchaser of such asset); provided, however, that, if (A) the Borrower
(or, if such Asset Sale is by Parent Holdings, Parent Holdings) shall deliver a certificate of a
Financial Officer to the Administrative Agent at the time of receipt thereof setting forth the
Borrower’s (or Parent Holdings’, as applicable) intent to reinvest such proceeds (x) in the case of
any Asset Sale by the Borrower or any of its subsidiaries, in productive assets of a kind then used
or usable in the business of the Borrower and its subsidiaries (subject, however, in the case of
the Borrower, in lieu of such permitted reinvestment, to compliance with Section 7(a) or Section
7(b), as applicable, of the Borrower Mortgage with respect to any Asset Sale the proceeds of which
constitute Condemnation Proceeds (as defined in the Borrower Mortgage) that are not the result of a
Material Casualty Event), or (y) in the case of any Asset Sale by Parent Holdings or any Subsidiary
Guarantor that is not a subsidiary of the Borrower, in productive assets of a kind then used or
usable by any Loan Party, in each case within the earlier of (i) the day preceding the date on
which any payment from such proceeds would be required to be made to the holders (or any
representative, trustee or agent on behalf thereof) of subordinated Indebtedness of Parent Holdings
incurred pursuant to Sections 6.01(a)(v)(A)(y) or Section 6.01(o) and (ii) 360 days
of receipt of such proceeds, (B) no Default or Event of Default shall have occurred and shall be
continuing at the time of such certificate or, unless the applicable Loan Party has then
irrevocably committed to a third party to make such a permitted reinvestment and such commitment is
not conditioned on the absence of a Default or Event of Default at the proposed time of the
application of such proceeds, and (C) such Asset Sale is not a Material Casualty Event, such
proceeds shall not
constitute Net Cash Proceeds except to the extent not so used at the end of such period
provided for in clause (A) above, at which time such proceeds shall be deemed to be Net Cash
Proceeds;

 

17

 

(b) with respect to any issuance or incurrence of Indebtedness, the cash proceeds thereof, net
of all Taxes and customary fees, commissions, costs and other expenses incurred in connection
therewith; and

(c) with respect to any Insurance Proceeds, the cash proceeds received by or paid to or for
the account of any Loan Party in respect thereof net of all reasonable costs and expenses incurred
by any Loan Party in connection therewith; provided, however, that, if (A) the Borrower (or, if
such Insurance Proceeds are payable to Parent Holdings, Parent Holdings) shall deliver a
certificate of a Financial Officer to the Administrative Agent at the time of receipt thereof
setting forth the Borrower’s (or Parent Holdings’, as applicable) intent to reinvest such proceeds
(x) in the case of the receipt of Insurance Proceeds by the Borrower and its subsidiaries in
productive assets of a kind then used or usable in the business of the Borrower and its
subsidiaries (subject, however, in the case of the Borrower, in lieu of such permitted
reinvestment, to compliance with Section 6(a) or Section 6(b), as applicable, of the Borrower
Mortgage with respect to any receipt of Insurance Proceeds of an Insured Casualty (as defined in
the Borrower Mortgage) that are not the result of a Material Casualty Event), or (y) in the case of
the receipt of Insurance Proceeds by Parent Holdings or any Subsidiary Guarantor that is not a
subsidiary of the Borrower, in productive assets of a kind then used or usable in the business of
any Loan Party, in each case within the earlier of (i) the day preceding the date on which any
payment from such proceeds would be required to be made to the holders (or any representative,
trustee or agent on behalf thereof) of subordinated Indebtedness of Parent Holdings incurred
pursuant to Sections 6.01(a)(v)(A)(y) or Section 6.01(o) and (ii) 360 days of
receipt of such proceeds, (B) no Default or Event of Default shall have occurred and shall be
continuing at the time of such certificate or, unless the applicable Loan Party has then
irrevocably committed to a third party to make such a permitted reinvestment and such commitment is
not conditioned on the absence of a Default or Event of Default, at the proposed time of the
application of such proceeds, and (C) such Insurance Proceeds are not proceeds of a Material
Casualty Event, such proceeds shall not constitute Net Cash Proceeds except to the extent not so
used at the end of such period provided for in clause (A) above, at which time such proceeds shall
be deemed to be Net Cash Proceeds.

“Non-Cash Working Capital” shall mean (i) all current assets of the Borrower and its
subsidiaries (other than cash and Permitted Investments), minus (ii) all current
liabilities of the Borrower and its subsidiaries (other than the current portion of the Loans), in
each case determined in accordance with GAAP; provided that Non-Cash Working Capital shall exclude
all intercompany transfers between Parent Holdings and the Borrower that would otherwise be treated
as current assets or current liabilities, in each case of the Borrower and its subsidiaries
determined in accordance with GAAP.

“Non-Defaulting Lender” shall mean, at any time, each Lender that is not a Defaulting Lender
at such time.

“Obligations” shall mean, collectively, all obligations of the Loan Parties defined as (i)
“Obligations” in the Guarantee and Collateral Agreement and the other Security Documents, and/or
(ii) “Indebtedness Hereby Secured” in the Borrower Mortgage.

 

18

 

“OFAC” shall have the meaning assigned to such term in Section 3.23.

“Other Loans” shall have the meaning assigned to such term in Section 2.21(a).

“Other Taxes” shall mean any and all present or future stamp or documentary Taxes or any other
excise or property taxes, charges or similar levies arising from any payment made under any Loan
Document or from the execution, delivery or enforcement of, or otherwise with respect to, any
Loan Document, excluding such Taxes imposed as a result of a grant of a participation, grant of an
option to (or exercise of an option by) an SPV, designation of a new lending office, assignment or
transfer (other than at the Borrower’s request pursuant to Section 2.16(a)).

“Parent Holdings” shall have the meaning assigned to such term in the introductory statement
to this Agreement.

“Payment Premium” shall mean, with respect to any Loan being prepaid in whole or in part
pursuant to Section 2.09, (i) if prepaid at any time after the Closing Date through and
including the first anniversary of the Closing Date, 2.00% of the aggregate principal amount of
such Loan being prepaid at such time, (ii) if prepaid at any time after the first anniversary of
the Closing Date through and including the second anniversary of the Closing Date, 1.00% of the
aggregate principal amount of such Loan being prepaid at such time and (iii) if prepaid at any time
thereafter, 0.00%.

“PBGC” shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA or
any successor thereto.

“Perfection Certificate” shall mean the Perfection Certificate substantially in the form of
Exhibit B to the Guarantee and Collateral Agreement.

“Permitted Acquisition” shall have the meaning assigned to such term in Section
6.04(a)(iv).

“Permitted Amount” shall mean, with respect to any loan or advance by the Borrower to Parent
Holdings, pursuant to Section 6.04(c)(iii), the then-available Available Cash (for the
avoidance of doubt, after giving effect to any prior or concurrent utilization of Available Cash in
accordance with the definition thereof) so long as (x) no Event of Default or Default shall have
occurred and be continuing or would result therefrom, (y) the Leverage Ratio is less than 2.00 to
1.00, in each case both prior to and after giving pro forma effect to any such loan or advance, and
(z) the Borrower is otherwise in pro forma compliance with each of Sections 6.10,
6.11, 6.12 and 6.17.

“Permitted Investments” shall mean:

(a) direct obligations of, or obligations the principal of and interest on which are
unconditionally guaranteed by, the United States of America (or by any agency thereof to the extent
such obligations are backed by the full faith and credit of the United States of America), in each
case maturing within one year from the date of acquisition thereof;

(b) investments in commercial paper maturing within 270 days from the date of acquisition
thereof and having, at such date of acquisition, the highest credit rating obtainable from S&P or
from Moody’s;

(c) investments in certificates of deposit, banker’s acceptances and time deposits maturing
within one year from the date of acquisition thereof issued or guaranteed by or placed with, and
money market deposit accounts issued or offered by, the Administrative Agent or any domestic office
of any commercial bank organized under the laws of the United States of America or any State
thereof that has a combined capital and surplus and undivided profits of not less than $500,000,000
and that issues (or the parent of which issues) commercial paper rated at least “Prime-1” (or the
then equivalent grade) by Moody’s or “A-1” (or the then equivalent grade) by S&P;

 

19

 

(d) fully collateralized repurchase agreements with a term of not more than 30 days for
securities described in clause (a) above and entered into with a financial institution satisfying
the criteria of clause (c) above;

(e) investments in “money market funds” within the meaning of Rule 2a-7 of the Investment
Company Act of 1940, as amended, substantially all of whose assets are invested in investments of
the type described in clauses (a) through (d) above; and

(f) other short-term investments utilized by Foreign Subsidiaries in accordance with normal
investment practices for cash management in investments of a type analogous to the foregoing.

“Permitted Project” shall mean any project or venture (including the Rialto Project and the
Natchez Project); provided that:

(a) the applicable Project Entity is engaged solely in the design, development, construction
and operation of one or more facilities that will (i) produce alternative fuels, chemicals, organic
compounds, or synthesis gas or (ii) export renewable electric power;

(b) no Loan Party (other than Parent Holdings, (x) to the extent otherwise permitted to do so
under this Agreement, and (y) except for Permitted Project Guarantees) (whether upon the occurrence
of a contingency or otherwise), directly or indirectly, (i) has any obligation to make (or makes)
an Investment in, or to transfer, convey or contribute any cash, cash equivalents, rights, assets
or properties to, the applicable Project Holdco(s) or Project Entity, (ii) Guarantees, or is
otherwise liable for, any of the obligations of the applicable Project Holdco(s) or Project Entity,
or (iii) provides any credit support of any kind (including any undertaking, agreement or
instrument that would constitute, or have the economic effect of, Indebtedness) for, or directly or
indirectly Guarantees, or is otherwise liable for, any Indebtedness or other obligations of the
applicable Project Holdco(s) or Project Entity; and

(c) (i) the Collateral Agent holds a perfected, first priority security interest for the
benefit of the Secured Parties, in (x) all of the Equity Interests held by Parent Holdings in the
applicable Project Holdco(s), and the proceeds thereof, and (y) any dividends, distributions or
other payments (whether in cash, securities or other property) payable to, or for the benefit of,
Parent Holdings, with respect to any Equity Interests in the applicable Project Holdco(s), (ii) the
Collateral Agent shall have received certificates or other instruments, if any, representing all of
the Equity Interests held by Parent Holdings in the applicable Project Holdco(s), together with
undated instruments of transfer satisfactory to the Collateral Agent with respect thereto, duly
endorsed in blank by an effective endorsement, as applicable, and (iii) all documents and
instruments, including any Uniform Commercial Code financing statements and/or assignments of
financing statements, required by applicable law or reasonably requested by the Collateral Agent or
the Required Lenders to be filed, registered or recorded to create, perfect, preserve or protect
such security interest have been filed, registered or recorded or delivered to the Collateral Agent
in appropriate form for filing, registration or recording.

“Permitted Project Guarantees” shall mean (A) any unsecured Guarantee by Parent Holdings in
connection with any Permitted Project that guarantees (i) performance of the improvement,
installation, design, engineering, technology, construction, acquisition, development, completion,
maintenance or operation (including commercial operation) of, or otherwise affects any such act in
respect of, all or any portion of the Permitted Project, (ii) completion of the minimum agreed
equity or other contributions or support by Parent Holdings or the applicable Project Holdco(s) to
the applicable Project Entity, or (iii) the payment of environmental liabilities in respect of the
applicable Permitted Project in excess of insurance and other Project Entity obligations, and (B)
any unsecured Guarantee by Parent Holdings listed on Schedule 1.01(a) with respect to
Permitted Projects identified on the Closing Date; provided that no such
Guarantee by Parent Holdings contemplated by this definition shall be recourse to any other
Loan Party or any subsidiary of the Borrower.

 

20

 

“Person” shall mean any natural person, corporation, business trust, joint venture,
association, company, limited liability company, partnership, Governmental Authority or other
entity.

“Plan” shall mean, as of any date of determination, any employee pension benefit plan (other
than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the
Code or Section 307 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or,
if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as
defined in Section 3(5) of ERISA.

“Plant” shall mean the property of the Borrower located at 16675 U.S. Route 20 West, East
Dubuque, Illinois 61025.

“Plant Expansion” shall mean a capital project, not to include a turnaround or other routine
maintenance, that will increase the production capacity of fertilizer products at the Plant;
provided that such capital project, and the assets comprising or used in connection with such
capital project, are owned by the Borrower or a Subsidiary Guarantor; provided, however, that such
capital project shall utilize only proven technology and shall not be used to commercialize any of
Parent Holdings’ technology.

“Platform” shall have the meaning assigned to such term in Section 9.01.

“Prime Rate” shall mean the rate of interest per annum determined from time to time by the
Administrative Agent as its prime rate in effect at its principal office in New York City and
notified to the Borrower. The prime rate is a rate set by the Administrative Agent based upon
various factors including the Administrative Agent’s costs and desired return, general economic
conditions and other factors, and is used as a reference point for pricing some loans, which may be
priced at, above, or below such rate. Each change in the Prime Rate shall be effective as of the
opening of business on the date such change is specified by the Administrative Agent as being
effective. The Prime Rate is a reference rate and does not necessarily represent the lowest or
best rate actually available.

“Project Entity” shall mean (i) any joint venture, partnership or other similar arrangement,
whether in corporate, partnership or other legal form, the Equity Interests of which are owned in
part by one or more Project Holdcos and in part by one or more other Persons that are not
Affiliated with Parent Holdings or any Subsidiary, (ii) any venture or project, whether in
corporate, partnership or other legal form, the Equity Interests of which are owned 100% in the
aggregate by one or more Project Holdcos (including GCSEC Holdings, LLC, a Delaware limited
liability corporation) or (iii) Clearfuels Technology Inc., a Hawaiian corporation.

“Project Holdco” shall mean any direct Wholly Owned Subsidiary of Parent Holdings acquired or
organized by Parent Holdings solely in connection with the ownership and operation of a Permitted
Project, including GCSEC Holdings, LLC, a Delaware limited liability corporation; provided that,
for the avoidance of doubt, none of the Borrower or any of its subsidiaries shall be a Project
Holdco.

“Public Lender” shall have the meaning assigned to such term in Section 9.01.

 

21

 

“Purchase Date” shall have the meaning assigned to such term in Section 2.11.

“Qualified Capital Stock” of any Person shall mean any Equity Interest of such Person that is
not Disqualified Stock.

“RDC” shall have the meaning assigned to such term in the introductory statement to this
Agreement.

“Register” shall have the meaning assigned to such term in Section 9.04(d).

“Regulation T” shall mean Regulation T of the Board as from time to time in effect and all
official rulings and interpretations thereunder or thereof.

“Regulation U” shall mean Regulation U of the Board as from time to time in effect and all
official rulings and interpretations thereunder or thereof.

“Regulation X” shall mean Regulation X of the Board as from time to time in effect and all
official rulings and interpretations thereunder or thereof.

“Related Fund” shall mean, with respect to any Lender that is a fund or commingled investment
vehicle that invests in bank loans, any other Person (other than a natural Person) that is engaged
in making, purchasing, holding or otherwise investing in bank loans and is administered, managed or
advised by (i) such Lender or by an Affiliate such Lender or (ii) the same investment advisor as
such Lender or by an Affiliate of such investment advisor.

“Related Parties” shall mean, with respect to any specified Person, such Person’s Affiliates
and the respective directors, trustees, officers, employees, agents, advisors and holders of Equity
Interests of such Person and such Person’s Affiliates.

“Release” shall mean any release, spill, emission, leaking, dumping, injection, pouring,
deposit, disposal, discharge, dispersal, leaching or migration into or through the environment or
within or upon any building, structure, facility or fixture.

“Repayment Date” shall have the meaning assigned to such term in Section 2.08(a)(i).

“Required Lenders” shall mean, at any time, Lenders having Loans representing more than 50% of
the sum of all Loans outstanding. The Loans of any Defaulting Lender shall be disregarded in
determining Required Lenders at any time.

“Responsible Officer” of any Person shall mean any executive officer or Financial Officer of
such Person and any other officer or similar official thereof responsible for the administration of
the obligations of such Person in respect of this Agreement.

“Restricted Indebtedness” shall mean Indebtedness of Parent Holdings, the Borrower or any
Subsidiary, the payment, prepayment, repurchase or defeasance of which is restricted under
Section 6.09(b).

“Restricted Payment” shall mean any dividend or other distribution (whether in cash,
securities or other property) with respect to any Equity Interests in Parent Holdings, the Borrower
or any Subsidiary (other than any Excluded Subsidiary), or any payment (whether in cash, securities
or other property), including any sinking fund or similar deposit, on account of the purchase,
redemption, retirement, acquisition, cancellation or termination of any Equity Interests in Parent
Holdings, the Borrower or any Subsidiary (other than any Excluded Subsidiary).

 

22

 

“Rialto Project” shall mean the Rialto Renewable Energy Center, which shall be located in or
near Rialto, California.

“Sale and Lease-Back Transaction” shall have the meaning assigned to such term in Section
6.03.

“S&P” shall mean Standard & Poor’s Ratings Service, or any successor thereto.

“Secured Parties” shall have the meaning assigned to such term in the Guarantee and Collateral
Agreement.

“Security Documents” shall mean the Mortgages, the Guarantee and Collateral Agreement and each
of the security agreements, mortgages and other instruments and documents executed and delivered
pursuant to any of the foregoing or pursuant to Section 5.12.

“SPV” shall have the meaning assigned to such term in Section 9.04(i).

“Statutory Reserves” shall mean a fraction (expressed as a decimal), the numerator of which is
the number one and the denominator of which is the number one minus the aggregate of the maximum
reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed
as a decimal established by the Board and any other banking authority, domestic or foreign, to
which the Administrative Agent or any Lender (including any branch, Affiliate or other fronting
office making or holding a Loan) is subject for Eurocurrency Liabilities (as defined in Regulation
D of the Board). Eurodollar Loans shall be deemed to constitute Eurocurrency Liabilities (as
defined in Regulation D of the Board) and to be subject to such reserve requirements without
benefit of or credit for proration, exemptions or offsets that may be available from time to time
to any Lender under such Regulation D. Statutory Reserves shall be adjusted automatically on and as
of the effective date of any change in any reserve percentage.

“Subordinated Indebtedness” shall mean any Indebtedness of Parent Holdings, Borrower or any of
the Subsidiaries that is subordinated in right of payment to any other Indebtedness of Parent
Holdings, Borrower or any of the Subsidiaries (including intercompany Indebtedness).

“subsidiary” shall mean, with respect to any Person (herein referred to as the “parent”), any
corporation, partnership, limited liability company, association or other business entity (a) of
which securities or other ownership interests representing more than 50% of the equity or more than
50% of the ordinary voting power or more than 50% of the general partnership interests are, at the
time any determination is being made, owned, Controlled or held, or (b) that is, at the time any
determination is made, otherwise Controlled, by the parent or one or more subsidiaries of the
parent or by the parent and one or more subsidiaries of the parent.

“Subsidiary” shall mean any subsidiary of Parent Holdings.

“Subsidiary Guarantor” shall mean each Subsidiary listed on Schedule 1.01(b), and each
other Subsidiary (other than the Borrower) that is or becomes a party to the Guarantee and
Collateral Agreement.

 

23

 

“Synthetic Lease” shall mean, as to any Person, any lease (including leases that may be
terminated by the lessee at any time) of any property (whether real, personal or mixed) (a) that is
accounted for as an operating lease under GAAP and (b) in respect of which the lessee retains or
obtains ownership of the property so leased for U.S. federal income tax purposes, other than any
such lease under which such Person is the lessor.

“Synthetic Lease Obligations” shall mean, as to any Person, an amount equal to the capitalized
amount of the remaining lease payments under any Synthetic Lease that would appear on a balance
sheet of such Person in accordance with GAAP if such obligations were accounted for as Capital
Lease Obligations.

“Synthetic Purchase Agreement” shall mean any swap, derivative or other agreement or
combination of agreements pursuant to which Parent Holdings, the Borrower or any Subsidiary is or
may become obligated to make (a) any payment in connection with a purchase by any third party from
a Person other than Parent Holdings, the Borrower or any Subsidiary of any Equity Interest or
Restricted Indebtedness or (b) any payment (other than on account of a permitted purchase by it of
any Equity Interest or Restricted Indebtedness) the amount of which is determined by reference to
the price or value at any time of any Equity Interest or Restricted Indebtedness; provided that no
phantom stock or similar plan providing for payments only to current or former directors, officers
or employees of Parent Holdings, the Borrower or the Subsidiaries (or to their heirs or estates)
shall be deemed to be a Synthetic Purchase Agreement.

“Taxes” shall mean any and all present or future taxes, levies, imposts, duties, deductions,
charges or withholdings, including any fines, penalties, additions to tax or other amounts with
respect thereto, imposed by any Governmental Authority.

“Total Debt” shall mean, at any time, the aggregate stated balance sheet amount (determined in
accordance with GAAP) of all Indebtedness of the Borrower and its subsidiaries at such time
(excluding Indebtedness of the type described in clause (i), clause (j), clause (k) and clause (l)
of the definition of such term, except, in the case of such clause (l), to the extent of any
unreimbursed drawings thereunder).

“Transaction Costs” shall mean all fees and expenses payable in connection with (a) the
execution, delivery and performance by the Loan Parties of the Loan Documents to which they are a
party and the making of the Loans hereunder, (b) the repayment of all amounts due or outstanding
under or in respect of, and the termination of, the Existing Credit Agreement and (c) the making of
the Closing Date Dividend.

“Transactions” shall mean, collectively, (a) the execution, delivery and performance by the
Loan Parties of the Loan Documents to which they are a party and the making of the Loans hereunder,
(b) the repayment of all amounts due or outstanding under or in respect of, and the termination of,
the Existing Credit Agreement, (c) the making of the Closing Date Dividend, (d) the cancellation of
intercompany indebtedness owing as of the Closing Date by Parent Holdings to the Borrower and (e)
the payment of Transaction Costs.

“Type”, when used in respect of any Loan, shall refer to the Rate by reference to which
interest on such Loan is determined. For purposes hereof, the term “Rate” shall mean the Adjusted
LIBO Rate and the Alternate Base Rate.

“Uniform Commercial Code” shall mean the Uniform Commercial Code as in effect from time to
time in the State of New York.

 

24

 

“Unrestricted Cash and Permitted Investments” of any Person, shall mean cash and Permitted
Investments of such Person, (a) that is not, and is not required under GAAP to be, designated as
“restricted” on the financial statements of such Person, (b) that is not contractually required,
and has not been contractually committed by such Person, to be used for a specific purpose (other
than to maintain the Minimum Liquidity Threshold required pursuant to Section 6.17), (c)
that is not subject to any legal requirement or contractual restriction (including the terms of any
Equity Interests) preventing such cash
from being applied to the payment of the Obligations, (d) in which no Person other than the
Collateral Agent has a Lien, (e) that, in the case of cash, is denominated in Dollars, (f) that, in
the case of cash, is held in a deposit account (subject to a deposit account control agreement in
form and substance satisfactory to the Collateral Agent) in which the Collateral Agent (for the
benefit of the Secured Parties) has a first priority security interest, perfected by “control”
(within the meaning of the Uniform Commercial Code), and (g) that, in the case of Permitted
Investments, is held in a securities account (subject to a securities account control agreement in
form and substance satisfactory to the Collateral Agent) in which the Collateral Agent (for the
benefit of the Secured Parties) has a first priority security interest, perfected by “control”
(within the meaning of the Uniform Commercial Code).

“Upfront Fees” shall have the meaning assigned to such term in Section 2.04(b).

“USA PATRIOT Act” shall mean The Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. No. 107-56
(signed into law October 26, 2001)).

“Waiver” shall mean that certain Waiver of Credit Agreement, dated as of June 10, 2011, by and
among the Borrower, Parent Holdings, the Subsidiary Guarantors (as defined in the Existing Credit
Agreement) party thereto, Credit Suisse AG, Cayman Islands Branch, as administrative agent under
the Existing Credit Agreement and the Required Lenders (as defined in the Existing Credit
Agreement) party thereto.

“Wholly Owned Subsidiary” of any Person shall mean a subsidiary of such Person of which
securities (except for directors’ qualifying shares) or other ownership interests representing 100%
of the Equity Interests are, at the time any determination is being made, owned, Controlled or held
by such Person or one or more wholly owned subsidiaries of such Person or by such Person and one or
more wholly owned subsidiaries of such Person. Unless otherwise specified, the term “Wholly Owned
Subsidiary” shall refer to a Subsidiary.

“Withdrawal Liability” shall mean liability to a Multiemployer Plan as a result of a complete
or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle
E of Title IV of ERISA.

SECTION 1.02. Terms Generally. The definitions in Section 1.01 shall apply equally to
both the singular and plural forms of the terms defined. Whenever the context may require, any
pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The
word “will” shall be construed to have the same meaning and effect as the word “shall”; and the
words “asset” and “property” shall be construed as having the same meaning and effect and to refer
to any and all tangible and intangible assets and properties, including cash, securities, accounts
and contract rights. All references herein to “fiscal year” or “fiscal quarter” shall be to the
fiscal year or fiscal quarter, as applicable, of the Borrower, unless otherwise specified. All
references herein to Articles, Sections, Exhibits and Schedules shall be deemed references to
Articles and Sections of, and Exhibits and Schedules to, this Agreement unless the context shall
otherwise require. Except as otherwise expressly provided herein, (a) any reference in this
Agreement to any Loan Document shall mean such document as amended, restated, supplemented or
otherwise modified from time to time, in each case, in accordance with the express terms of this
Agreement, and (b) all terms of an accounting or financial nature shall be construed in accordance
with GAAP, as in effect from time to time; provided, however, that if the Borrower notifies the
Administrative Agent that the Borrower wishes to amend any covenant in Article VI or any
related definition to eliminate the effect of any change in GAAP occurring after the date of this
Agreement on the operation of such covenant (or if the Administrative Agent notifies the Borrower
that the Required
Lenders wish to amend Article VI or any related definition for such purpose), then the
Borrower’s compliance with such covenant shall be determined on the basis of GAAP in effect
immediately before the relevant change in GAAP became effective, until either such notice is
withdrawn or such covenant is amended in a manner satisfactory to the Borrower and the Required
Lenders.

 

25

 

SECTION 1.03. Pro Forma Calculations. All pro forma calculations permitted or
required to be made by Parent Holdings, the Borrower or any Subsidiary pursuant to this Agreement
shall include only those adjustments that would be permitted or required by Regulation S-X under
the Securities Act of 1933, as amended, together with those adjustments that (i) have been
certified by a Financial Officer of the Borrower as having been prepared in good faith based upon
reasonable assumptions and (ii) are based on reasonably detailed written assumptions reasonably
acceptable to the Administrative Agent.

ARTICLE II

The Credits

SECTION 2.01. Commitments. (a) Subject to the terms and conditions and relying upon the
representations and warranties herein set forth, each Lender agrees, severally and not jointly, to
make a Loan to the Borrower on the Closing Date in a principal amount not to exceed its Commitment
(other than any Incremental Loan Commitment). Amounts paid or prepaid in respect of Loans may not
be reborrowed.

(b) Each Lender having an Incremental Loan Commitment, severally and not jointly, hereby
agrees, subject to the terms and conditions and relying upon the representations and warranties set
forth herein and in the applicable Incremental Loan Assumption Agreement, to make Incremental Loans
to the Borrower, in an aggregate principal amount not to exceed its Incremental Loan Commitment.
Amounts paid or prepaid in respect of Incremental Loans may not be reborrowed.

SECTION 2.02. Loans.

(a) Upon (x) receipt by the Administrative Agent of a Borrowing Request, which in the case of
a Eurodollar Loan to be made on the Closing Date or any Incremental Loan Closing Date, as
applicable, shall be delivered by the Borrower not later than 12:00 (noon), New York City time,
three Business Days before the Closing Date or such Incremental Loan Closing Date, as applicable,
and in the case of an ABR Loan to be made on the Closing Date or any Incremental Loan Closing Date,
as applicable, not later than 12:00 (noon), New York City time, one Business Day before the Closing
Date or such Incremental Loan Closing Date, as applicable, and (y) except in the case of
Incremental Loans, satisfaction of the conditions set forth in Section 4.01, the Loans
shall be made by the Lenders ratably in accordance with their applicable Commitments; provided,
however, that the failure of any Lender to make any Loan shall not in itself relieve any other
Lender of its obligation to lend hereunder (it being understood, however, that no Lender shall be
responsible for the failure of any other Lender to make any Loan required to be made by such other
Lender).

 

26

 

(b) Each Lender may at its option make any Loan by causing any domestic or foreign branch or
Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not
affect the obligation of the Borrower to repay such Loan in accordance with the terms of this
Agreement.

(c) Each Lender shall make the Loan to be made by it hereunder on the Closing Date or any
Incremental Loan Closing Date, as applicable, by wire transfer of immediately available funds to
such account in New York City as the Administrative Agent may designate not later than 2:00 p.m.,
New York
City time, and the Administrative Agent shall promptly credit the amounts so received to an
account designated by the Borrower in the Borrowing Request.

(d) Unless the Administrative Agent shall have received notice from a Lender prior to the
Closing Date or any Incremental Loan Closing Date, as applicable, that such Lender will not make
available to the Administrative Agent such Lender’s Loan, the Administrative Agent may assume that
such Lender has made such Loan available to the Administrative Agent on the Closing Date or such
Incremental Loan Closing Date, as applicable, in accordance with paragraph (c) above and the
Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such
date a corresponding amount. If the Administrative Agent shall have so made funds available then,
to the extent that such Lender shall not have made such Loan available to the Administrative Agent,
such Lender and the Borrower severally agree to repay to the Administrative Agent forthwith on
demand such corresponding amount together with interest thereon, for each day from the date such
amount is made available to the Borrower to but excluding the date such amount is repaid to the
Administrative Agent at (i) in the case of the Borrower, a rate per annum equal to the interest
rate applicable at the time to such Loans and (ii) in the case of such Lender, a rate determined by
the Administrative Agent to represent its cost of overnight or short term funds (which
determination shall be conclusive absent manifest error). If such Lender shall repay to the
Administrative Agent such corresponding amount, such amount shall constitute such Lender’s Loan for
purposes of this Agreement.

SECTION 2.03. Evidence of Debt; Repayment of Loans. (a) The Borrower hereby unconditionally
promises to pay to the Administrative Agent for the account of each Lender the principal amount of
each Loan of such Lender as provided in Section 2.08.

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

(c) The Administrative Agent shall maintain accounts in which it will record (i) the amount of
each Loan made hereunder, the Type thereof and, if applicable, the Interest Period applicable
thereto, (ii) the amount of any principal or interest due and payable or to become due and payable
from the Borrower to each Lender hereunder and (iii) the amount of any sum received by the
Administrative Agent hereunder from the Borrower or any Guarantor and each Lender’s share thereof.

(d) The entries made in the accounts maintained pursuant to paragraphs (b) and (c) above shall
be prima facie evidence of the existence and amounts of the obligations therein recorded; provided,
however, that the failure of any Lender or the Administrative Agent to maintain such accounts or
any error therein shall not in any manner affect the obligations of the Borrower to repay the Loans
in accordance with their terms.

(e) Any Lender may request that Loans made by it hereunder be evidenced by a promissory note.
In such event, the Borrower shall execute and deliver to such Lender a promissory note payable to
such Lender and its registered assigns and in a form and substance reasonably acceptable to the
Administrative Agent and the Borrower. Notwithstanding any other provision of this Agreement, in
the event any Lender shall request and receive such a promissory note, the interests represented by
such note shall at all times (including after any assignment of all or part of such interests
pursuant to Section 9.04) be represented by one or more promissory notes payable to the
payee named therein or its registered assigns.

 

27

 

SECTION 2.04. Fees.

(a) The Borrower agrees to pay to the Administrative Agent, for its own account, the
administrative fees set forth in the Engagement Letter at the times and in the amounts specified
therein (the “Administrative Agent Fees”).

(b) The Borrower agrees to pay to the Administrative Agent, for the account of each Lender, a
commitment fee equal to 2.00% of the aggregate amount of each Lender’s Commitment on the Closing
Date (the “Upfront Fees” and, together with the Administrative Agent Fees, the “Fees”). All
Upfront Fees shall be payable in full on the Closing Date.

(c) All Fees shall be paid on the dates due, in immediately available funds, to the
Administrative Agent. Once paid, none of the Fees shall be refundable under any circumstances.

SECTION 2.05. Interest on Loans.

(a) Subject to the provisions of Section 2.06, the Loans shall bear interest (computed
on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may
be, when the Alternate Base Rate is determined by reference to the Prime Rate and over a year of
360 days at all other times and calculated from and including the date of such Loans to but
excluding the date of repayment thereof) at a rate per annum equal to, at the Borrower’s election,
(i) the Adjusted LIBO Rate plus the Applicable Margin or (ii) the Alternate Base Rate plus the
Applicable Margin.

(b) Interest on each Loan shall be payable on the Interest Payment Dates except as otherwise
provided in this Agreement. The applicable Alternate Base Rate or Adjusted LIBO Rate for each
Interest Period or day within an Interest Period, as the case may be, shall be determined by the
Administrative Agent, and such determination shall be conclusive absent manifest error.

SECTION 2.06. Default Interest. If (i) the Borrower shall default in the payment of any
principal of or interest on any Loan or any other amount due hereunder or under any other Loan
Document, by acceleration or otherwise, or (ii) if any Event of Default under Article VII
(other than paragraphs (b) or (c) thereunder) has occurred and is continuing and the Required
Lenders so vote, then, in the case of clause (i) above, until such defaulted amount shall have been
paid in full or, in the case of clause (ii) above, from the date such vote has been exercised by
the Required Lenders and for so long as such Event of Default is continuing, to the extent
permitted by law, all amounts outstanding under this Agreement and the other Loan Documents shall
bear interest (after as well as before judgment), payable on demand, (a) in the case of principal,
at the rate otherwise applicable to such Loan pursuant to Section 2.05 plus 2.00% per annum
and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days
elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the
Prime Rate and over a year of 360 days at all other times) equal to the rate that would be
applicable to an ABR Loan plus 2.00% per annum.

 

28

 

SECTION 2.07. Conversion and Continuation of Loans.

(a) The Borrower shall have the right at any time upon prior irrevocable notice (in the form
of Exhibit E) to the Administrative Agent (1) not later than 12:00 (noon), New York City
time, one Business Day prior to conversion, to convert any Eurodollar Loan into an ABR Loan, (2)
not later than 12:00 (noon), New York City time, three Business Days prior to conversion or
continuation, to convert any ABR Loan into a Eurodollar Loan or to continue any Eurodollar Loan as
a Eurodollar Loan for an additional Interest Period, and (3) not later than 12:00 (noon), New York
City time, three Business Days
prior to conversion, to convert the Interest Period with respect to any Eurodollar Loan to
another permissible Interest Period, subject in each case to the following:

(i) each conversion or continuation shall be made pro rata among the Lenders in
accordance with the respective principal amounts of the Loans;

(ii) if less than all the outstanding principal amount of the Loans shall be converted
or continued, then each resulting Loan shall satisfy the limitations specified in
Section 2.07(b) regarding the maximum number of Eurodollar Loans that may be
outstanding;

(iii) each conversion shall be effected by each Lender and the Administrative Agent by
recording for the account of such Lender the new Loan of such Lender resulting from such
conversion and reducing the Loan (or portion thereof) of such Lender being converted by an
equivalent principal amount; accrued interest on any Eurodollar Loan (or portion thereof)
being converted shall be paid by the Borrower at the time of conversion;

(iv) if any Eurodollar Loan is converted at a time other than the end of the Interest
Period applicable thereto, the Borrower shall pay, upon demand, any amounts due to the
Lenders pursuant to Section 2.19;

(v) any portion of a Loan maturing or required to be repaid in less than one month may
not be converted into or continued as a Eurodollar Loan;

(vi) any portion of a Eurodollar Loan that cannot be converted into or continued as a
Eurodollar Loan by reason of the immediately preceding clause shall be automatically
converted at the end of the Interest Period in effect for such Loan into an ABR Loan;

(vii) no Interest Period may be selected for any Eurodollar Loan that would end later
than the Maturity Date or, in the case of any Eurodollar Loan that is an Incremental Loan,
the relevant Incremental Loan Maturity Date; and

(viii) after the occurrence and during the continuance of a Default or Event of
Default, no outstanding Loan may be converted into, or continued as, a Eurodollar Loan.

Each notice pursuant to this Section 2.07 shall be irrevocable and shall refer to this
Agreement and specify (1) the identity and amount of the Loan that the Borrower requests be
converted or continued, (2) whether such Loan is to be converted to or continued as a Eurodollar
Loan or an ABR Loan, (3) if such notice requests a conversion, the date of such conversion (which
shall be a Business Day) and (4) if such Loan is to be converted to or continued as a Eurodollar
Loan, the Interest Period with respect thereto. If no Interest Period is specified in any such
notice with respect to any conversion to or continuation as a Eurodollar Loan, the Borrower shall
be deemed to have selected an Interest Period of one month’s duration. The Administrative Agent
shall promptly advise the Lenders of any notice given pursuant to this Section 2.07 and of
each Lender’s portion of any converted or continued Loan. If the Borrower shall not have given
notice in accordance with this Section 2.07 to continue any Loan into a subsequent Interest
Period (and shall not otherwise have given notice in accordance with this Section 2.07 to
convert such Loan), such Loan shall, at the end of the Interest Period applicable thereto (unless
repaid pursuant to the terms hereof), automatically be continued as an ABR Loan.

 

29

 

(b) Subject to Section 2.17, 2.18 and 2.20, the Loans converted or
continued pursuant to Section 2.07(a) shall be comprised entirely of ABR Loans or
Eurodollar Loans as the Borrower may request pursuant to this Section 2.07. ABR Loans and
Eurodollar Loans may be outstanding at the same
time; provided, however, that the Borrower shall not be entitled to request any Loan (or the
continuation or conversion thereof) that, if made, would result in more than seven Eurodollar Loans
being outstanding hereunder at any time. For purposes of the foregoing, Eurodollar Loans having
different Interest Periods, regardless of whether they commence on the same date, shall be
considered separate Loans.

SECTION 2.08. Repayment of Loans; Termination of Commitments.

(a) (i) The Borrower shall pay to the Administrative Agent, for the account of the Lenders, on
the dates set forth below, or if any such date is not a Business Day, on the next preceding
Business Day (each such date being called a “Repayment Date”), a principal amount of the Loans
(other than Other Loans) (as adjusted from time to time pursuant to Section 2.21(d)) equal
to the percentage of the amount of the Commitments on the Closing Date set forth below for such
date, together in each case with accrued and unpaid interest on the principal amount to be paid to
but excluding the date of such payment:

	 	 	 	 	 
	 	 	Percentage of Amount of the Closing	 
	Repayment Date	 	Date Commitments	 
	 
	 	 	 	 
	September 30, 2011
	 	 	2.50	%
	December 31, 2011
	 	 	2.50	%
	March 31, 2012
	 	 	2.50	%
	June 30, 2012
	 	 	2.50	%
	September 30, 2012
	 	 	2.50	%
	December 31, 2012
	 	 	2.50	%
	March 31, 2013
	 	 	2.50	%
	June 30, 2013
	 	 	2.50	%
	September 30, 2013
	 	 	2.50	%
	December 31, 2013
	 	 	2.50	%
	March 31, 2014
	 	 	2.50	%
	June 30, 2014
	 	 	2.50	%
	September 30, 2014
	 	 	2.50	%
	December 31, 2014
	 	 	2.50	%
	March 31, 2015
	 	 	2.50	%
	June 30, 2015
	 	 	2.50	%
	September 30, 2015
	 	 	2.50	%
	December 31, 2015
	 	 	2.50	%
	March 31, 2016
	 	 	2.50	%
	Maturity Date
	 	 	52.50	%

(ii) The Borrower shall pay to the Administrative Agent, for the account of the
Incremental Lenders holding Other Loans, on each Incremental Loan Repayment Date, a
principal amount of the Other Loans (as adjusted from time to time pursuant to Sections
2.08(b), 2.09 and 2.10(e)) equal to the amount set forth for such date
in the applicable Incremental Loan Assumption Agreement, together in each case with accrued
and unpaid interest on the principal amount to be paid to but excluding the date of such
payment.

 

30

 

(b) To the extent not previously paid, all Loans and Other Loans shall be due and payable on
the Maturity Date and on each Incremental Loan Maturity Date, if any, together with accrued and
unpaid interest on the principal amount to be paid to but excluding the date of payment.

(c) The Commitments (other than any Incremental Loan Commitments, which shall terminate as
provided in the related Incremental Loan Assumption Agreement) shall automatically terminate upon
the making of the Loans on the Closing Date.

SECTION 2.09. Voluntary Prepayment. (a) The Borrower shall have the right at any time and
from time to time to prepay any Loan, in whole or in part, upon at least three Business Days’ prior
written or fax notice (or telephone notice promptly confirmed by written or fax notice) to the
Administrative Agent before 12:00 (noon), New York City time; provided, however, that each partial
prepayment shall be in an amount that is an integral multiple of $1,000,000 and not less than
$2,000,000.

(b) Voluntary prepayments of Loans shall be applied against the remaining scheduled
installments of principal due in respect of the Loans under Section 2.08(a) as directed by
the Borrower in writing; provided that such voluntary prepayment shall be applied pro rata between
the Loans and the Other Loans.

(c) Each notice of prepayment shall specify the prepayment date and the principal amount of
each Loan (or portion thereof) to be prepaid, shall be irrevocable and shall commit the Borrower to
prepay such Loan by the amount stated therein on the date stated therein; provided, however, that
if such prepayment is for all of the then outstanding Loans, then the Borrower may revoke such
notice and/or extend the prepayment date by not more than five Business Days, provided, further,
however, that if Borrower shall revoke or extend the prepayment date, from and including the date
on which such prepayment would have been made until the earlier of (A) such time as such prepayment
is made or (B) the last day of the then applicable Interest Period, the Loans shall accrue interest
at the Alternate Base Rate plus the Applicable Margin. All prepayments under this Section
2.09 shall be accompanied by (i) accrued and unpaid interest on the principal amount to be
prepaid to but excluding the date of payment, (ii) the applicable Payment Premium and (iii) any
other amounts then due and payable by the Loan Parties (including amounts payable under Section
2.19) under the Loan Documents.

SECTION 2.10. Mandatory Prepayments. (a) Not later than the fourth Business Day following
the receipt by any Loan Party of Net Cash Proceeds in respect of any Asset Sale, the Borrower shall
apply 100% of the Net Cash Proceeds received by such Loan Party with respect thereto to prepay
outstanding Loans in accordance with Section 2.10(e).

(b) No later than four Business days after the earlier of (i) 90 days after the end of each
fiscal year of the Borrower, commencing with the fiscal year ending on September 30, 2011, and (ii)
two Business Days after the date on which the financial statements with respect to such period are
delivered pursuant to Section 5.04(b), the Borrower shall prepay outstanding Loans in
accordance with Section 2.10(e) in an aggregate principal amount equal to the positive
difference of (x) the Applicable ECF Percentage of Excess Cash Flow for the fiscal year then ended
minus (y) the sum of (i) the principal amount of voluntary prepayments of Loans under Section
2.09, and (ii) any Payment Premiums paid with respect to such voluntary prepayments only to the
extent not previously deducted in the calculation of Consolidated EBITDA for such fiscal year or in
the determination of Excess Cash Flow for such fiscal year, in each case paid during such fiscal
year but only to the extent that such prepayments are not financed with the proceeds of
Indebtedness, equity issuances, casualty proceeds, condemnation proceeds or insurance proceeds.

 

31

 

(c) In the event that any Loan Party shall receive Net Cash Proceeds from the issuance or
incurrence of Indebtedness of any Loan Party (other than Indebtedness permitted under Section
6.01), the Borrower shall, no later than the fourth Business Day following the receipt of such
Net Cash Proceeds by such Loan Party, apply an amount equal to 100% of such Net Cash Proceeds to
prepay outstanding Loans in accordance with Section 2.10(e).

(d) In the event that any Loan Party shall receive Net Cash Proceeds in respect of any
Insurance Proceeds, the Borrower shall, no later than the fourth Business Day following the receipt
of such Net Cash Proceeds by such Loan Party, apply an amount equal to 100% of such Net Cash
Proceeds to prepay outstanding Loans in accordance with Section 2.10(e).

(e) Mandatory prepayments of outstanding Loans under this Agreement shall be applied pro rata
between the Loans and the Other Loans and applied pro rata against the remaining scheduled
installments of principal due in respect of the Loans and the Other Loans under Sections
2.08(a)(i) and 2.08(a)(ii), respectively.

(f) In connection with each prepayment required under this Section 2.10, the Borrower
shall deliver to the Administrative Agent no later than noon (New York City time) at least four
Business Days prior to such prepayment (for further distribution by the Administrative Agent to
each Lender on the date of receipt thereof) a certificate signed by a Financial Officer of the
Borrower, setting forth in reasonable detail the calculation of the amount of such prepayment, and
a written notice of such prepayment. Each notice of prepayment shall specify the prepayment date,
the Type of each Loan being prepaid and the principal amount of each Loan (or portion thereof) to
be prepaid. All prepayments of Loans under this Section 2.10 shall be accompanied by
accrued and unpaid interest on the principal amount to be prepaid to but excluding the date of
payment.

(g) All repayments pursuant to this Section 2.10 shall be subject to Section
2.19, but shall otherwise be without premium or penalty.

(h) Notwithstanding the foregoing provisions of this Section 2.10, (i) in the case of
any mandatory prepayment of the Loans, Lenders may waive, by written notice to the Administrative
Agent by no later than two Business Days prior to the date on which such mandatory prepayment would
otherwise be required to be made under this Section 2.10, the right to receive the amount
of such mandatory prepayment of the Loans, and (ii) if any Lender or Lenders elect to waive the
right to receive the amount of such mandatory prepayment, all of the amount that otherwise would
have been applied to mandatorily prepay the Loans of such Lender or Lenders shall be paid by the
Borrower to the remaining non-waiving Lender or Lenders on a pro rata basis, in accordance with
Section 2.10(i).

(i) In connection with any mandatory prepayments by the Borrower of the Loans pursuant to this
Section 2.10, such prepayments shall be applied on a pro rata basis to the then outstanding
Loans being prepaid irrespective of whether such outstanding Loans are ABR Loans or Eurodollar
Loans; provided that if no Lenders exercise the right to waive a given mandatory prepayment of the
Loans pursuant to this Section 2.10, then, with respect to such mandatory prepayment, the
amount of such mandatory prepayment shall be applied first to Loans that are ABR Loans to the full
extent thereof before application to Loans that are Eurodollar Loans in a manner that minimizes the
amount of any payments required to be made by the Borrower pursuant to Section 2.19.

 

32

 

(j) In addition to any other applicable provisions contained in the Borrower Mortgage, if (i)
any loss of title or any loss of or damage to or any destruction of, or condemnation or other
taking (including by any Governmental Authority) of, any portion of the Plant, occurs and the
portion of the Plant subject to such loss, damage, destruction, condemnation or other taking is
material to the operation, or income-producing capacity, of the Plant, and (ii) the Borrower
reasonably believes such portion of the Plant can be repaired, replaced or restored in accordance
with applicable laws within 180 days following the occurrence of such loss, damage, destruction,
condemnation or other taking (or, if sooner, within 90 days prior to the Applicable Maturity Date),
the Borrower shall deliver to the Administrative Agent (for further delivery to the Lenders), not
later than the 90th day following the occurrence of such loss, damage, destruction, condemnation or
other taking, plans and specifications, and such other
documentation and information as shall be reasonably requested by the Collateral Agent,
demonstrating that such portion of the Plant can be repaired, replaced or restored in compliance
with foregoing clause (ii).

SECTION 2.11. Prepayment or Offer to Purchase in Connection with Change in Control. The
Borrower shall notify the Administrative Agent of the occurrence of a Change in Control within one
Business Day thereof, and the Administrative Agent shall promptly thereafter notify the Lenders
thereof. At any time prior to the 30th day following delivery of the notice by the
Agent pursuant to the preceding sentence (the “Purchase Date”), each Lender shall have the right,
by notice to the Borrower and the Administrative Agent, to require the Borrower, on the Purchase
Date, to prepay in full (but not in part) the outstanding principal amount of such Lender’s Loans
at a purchase price equal to 101% of the principal amount thereof, together with accrued and unpaid
interest on the principal amount thereof to but excluding the date of payment, and all other
amounts then due to such Lender (including amounts payable under Section 2.19) under the
Loan Documents.

SECTION 2.12. Pro Rata Treatment. Each Loan, each payment or prepayment of principal of any
Loan, each payment of interest on the Loans and each conversion of any Loan to or continuation of a
Loan as a Loan of any Type shall be allocated pro rata among the Lenders in accordance with their
respective applicable Commitments (or, if such Commitments shall have expired or been terminated,
in accordance with the respective principal amounts of their outstanding Loans). Each Lender agrees
that in computing such Lender’s portion of any Loan to be made hereunder, the Administrative Agent
may, in its discretion, round each Lender’s percentage of such Loan to the next higher or lower
whole Dollar amount.

SECTION 2.13. Sharing of Setoffs. Each Lender agrees that if it shall, through the exercise
of a right of banker’s lien, setoff or counterclaim against the Borrower or any other Loan Party,
or pursuant to a secured claim under Section 506 of Title 11 of the United States Code or other
security or interest arising from, or in lieu of, such secured claim, received by such Lender under
any applicable bankruptcy, insolvency or other similar law or otherwise, or by any other means,
obtain payment (voluntary or involuntary) in respect of any Loan or Loans as a result of which the
unpaid principal portion of its Loans shall be proportionately less than the unpaid principal
portion of the Loans of any other Lender, it shall be deemed simultaneously to have purchased from
such other Lender at face value, and shall promptly pay to such other Lender the purchase price
for, a participation in the Loans of such other Lender, so that the aggregate unpaid principal
amount of the Loans and participations in Loans held by each Lender shall be in the same proportion
to the aggregate unpaid principal amount of all Loans then outstanding as the principal amount of
its Loans prior to such exercise of banker’s lien, setoff or counterclaim or other event was to the
principal amount of all Loans outstanding prior to such exercise of banker’s lien, setoff or
counterclaim or other event; provided, however, that (i) if any such purchase or purchases or
adjustments shall be made pursuant to this Section 2.13 and the payment giving rise thereto
shall thereafter be recovered, such purchase or purchases or adjustments shall be rescinded to the
extent of such recovery and the purchase price or prices or adjustment restored without interest,
and (ii) the provisions of this Section 2.13 shall not be construed to apply to any payment
made by the Borrower pursuant to and in accordance with the express terms of this Agreement
(including the application of funds arising from the existence of a Defaulting Lender) or any
payment obtained by a Lender as consideration for the assignment of or sale of a participation in
any of its Loans to any assignee or participant pursuant to Section 9.04, other than to
Parent Holdings or any of its Affiliates (as to which the provisions of this Section 2.13
shall apply). The Borrower and Parent Holdings expressly consent to the foregoing arrangements and
agree that any Lender holding a participation in a Loan deemed to have been so purchased may
exercise any and all rights of banker’s lien, setoff or counterclaim with respect to any and all
moneys owing by the Loan Parties to such Lender by reason thereof as fully as if such Lender had
made a Loan directly to the Borrower in the amount of such participation.

 

33

 

SECTION 2.14. Payments. (a) The Borrower shall make each payment (including principal of or
interest on any Loan or any Fees or other amounts) hereunder and under any other Loan Document not
later than 12:00 (noon), New York City time, on the date when due in immediately available Dollars,
without setoff, defense or counterclaim. Each such payment shall be made to the Administrative
Agent at its offices at Eleven Madison Avenue, New York, NY 10010. The Administrative Agent shall
promptly distribute to each Lender any payments received by the Administrative Agent on behalf of
such Lender.

(b) Except as otherwise expressly provided herein, whenever any payment (including principal
of or interest on any Loan or any Fees or other amounts) hereunder or under any other Loan Document
shall become due, or otherwise would occur, on a day that is not a Business Day, such payment may
be made on the next succeeding Business Day, and such extension of time shall in such case be
included in the computation of interest or Fees, if applicable.

SECTION 2.15. Taxes. (a) Any and all payments by or on account of any obligation of the
Borrower or any other Loan Party hereunder or under any other Loan Document shall be made free and
clear of and without deduction for any Indemnified Taxes or Other Taxes; provided that, if the
Borrower or any other Loan Party shall be required to deduct any Indemnified Taxes or Other Taxes
from such payments, then (i) the sum payable shall be increased as necessary so that after making
all required deductions (including deductions applicable to additional sums payable under this
Section 2.15(a)) the Administrative Agent and each Lender (as the case may be) receives an
amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower
or such Loan Party shall make such deductions and (iii) the Borrower or such Loan Party shall pay
the full amount deducted to the relevant Governmental Authority in accordance with applicable law.

(b) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority
in accordance with applicable law.

(c) The Borrower shall indemnify the Administrative Agent and each Lender, within 10 days
after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes paid by
the Administrative Agent or such Lender, as the case may be, on or with respect to any payment by
or on account of any obligation of the Borrower or any other Loan Party hereunder or under any
other Loan Document (including Indemnified Taxes or Other Taxes imposed or asserted on or
attributable to amounts payable under this Section 2.15) and any penalties, interest and
reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified
Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by
a Lender, or by the Administrative Agent on behalf of itself or a Lender, shall be conclusive
absent manifest error.

(d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the
Borrower or any other Loan Party to a Governmental Authority, the Borrower shall deliver to the
Administrative Agent the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment or other evidence of
such payment reasonably satisfactory to the Administrative Agent.

 

34

 

(e) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax
(or other Lender that is entitled to an exemption from U.S. federal backup withholding tax) with
respect to payments under this Agreement shall deliver to the Borrower (with a copy to the
Administrative Agent), at the time or times prescribed by applicable law, such properly completed
and executed documentation prescribed by applicable law (in the case of any withholding tax imposed
under the law of the jurisdiction in which the Borrower is located or any treaty to which such
jurisdiction is a party) or reasonably requested by the Borrower (in the case of any other
withholding tax) as will permit such
payments to be made without withholding or at a reduced rate (including, without limitation,
Internal Revenue Service Form W-9 or applicable Form W-8).

(f) If requested by the Borrower or the Administrative Agent or required by applicable law,
each Foreign Lender shall (and shall cause other Persons acting on its behalf to) (i) take any
action (including entering into an agreement with the Internal Revenue Service) and comply with any
information gathering and reporting requirements, in each case, that are required to obtain the
maximum available exemption from U.S. federal withholding Taxes under FATCA, with respect to
payments received by or on behalf of such Foreign Lender, and (ii) deliver to the Borrower and the
Administrative Agent such additional documentation reasonably requested by the Borrower or the
Administrative Agent to ensure compliance with FATCA or to determine the amount to deduct and
withhold from such payment if FATCA’s information gathering and reporting requirements are not
complied with; provided that, for the avoidance of doubt, a Foreign Lender’s breach of this
sentence shall affect the rights only of the breaching Foreign Lender, and not the rights of any
other Foreign Lender, under Section 2.15(a). Solely for purposes of this clause (f),
“FATCA” shall include any amendments made to FATCA after the date of this Agreement.

(g) Unless required by applicable law, at no time shall the Administrative Agent have any
obligation to file for or otherwise pursue on behalf of a Lender, or have any obligation to pay to
any Lender, any refund of Taxes withheld or deducted from funds paid for the account of such
Lender. If the Administrative Agent or any Lender determines, in its sole good faith discretion,
that it has received a refund of any Indemnified Taxes or Other Taxes as to which it has been
indemnified by any Loan Party or with respect to which any Loan Party has paid additional amounts
pursuant to this Section 2.15, it shall pay to the such Loan Party an amount equal to such
refund (but only to the extent of indemnity payments made, or additional amounts paid, by such Loan
Party under this Section 2.15 with respect to the Indemnified Taxes or Other Taxes giving
rise to such refund), net of all reasonable out-of-pocket expenses incurred by the Administrative
Agent or such Lender and without interest (other than any interest paid by the relevant
Governmental Authority with respect to such refund), provided that such Loan Party, upon the
request of the Administrative Agent or such Lender, agrees to repay the amount paid over to Loan
Party that is required to be repaid (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) to the Administrative Agent or such Lender in the event the
Administrative Agent or such Lender is required to repay such refund to such Governmental
Authority. Notwithstanding anything to the contrary contained in this Section 2.15(g), in
no event will the indemnified party be required to pay any amount to an indemnifying party pursuant
to this Section 2.15(g) the payment of which would place the indemnified party in a less
favorable net after-Tax position than the indemnified party would have been in if the
indemnification payments or additional amounts giving rise to such refund had never been paid.
This Section 2.15(g) shall not be construed to require the Administrative Agent or any
Lender to make available its tax returns (or any other information relating to its Taxes that it
deems confidential) to the Borrower or any other Person.

 

35

 

SECTION 2.16. Assignment of Commitments Under Certain Circumstances; Duty to Mitigate. (a)
In the event (i) any Lender delivers a certificate requesting compensation pursuant to Section
2.17, (ii) any Lender delivers a notice described in Section 2.18, (iii) the Borrower
is required to pay any additional amount to any Lender or any Governmental Authority on account of
any Lender pursuant to Section 2.15, (iv) any Lender refuses to consent to any amendment,
waiver or other modification of any Loan Document requested by the Borrower that requires the
consent of a greater percentage of the Lenders than the Required Lenders and such amendment, waiver
or other modification is consented to by the Required Lenders, or (v) any Lender is a Defaulting
Lender, then, in each case, the Borrower may, at its sole expense and effort (including with
respect to the processing and recordation fee referred to in Section 9.04(b)), upon notice
to such Lender and the Administrative Agent, require such Lender to transfer and assign, without
recourse (in accordance with and subject to the restrictions
contained in Section 9.04), all of its interests, rights and obligations under this
Agreement to an Eligible Assignee that shall assume such assigned obligations and, with respect to
clause (iv) above, shall consent to such requested amendment, waiver or other modification of any
Loan Documents (which assignee may be another Lender (other than a Defaulting Lender), if a Lender
accepts such assignment); provided that (w) such assignment shall not conflict with any law, rule
or regulation or order of any court or other Governmental Authority having jurisdiction, (x) the
Borrower shall have received the prior written consent of the Administrative Agent, which consent
shall not unreasonably be withheld or delayed, (y) the Borrower or such assignee shall have paid to
the affected Lender in immediately available funds an amount equal to the sum of the principal of
and interest accrued to the date of such payment on the outstanding Loans of such Lender plus all
Fees and other amounts accrued for the account of such Lender hereunder with respect thereto
(including any amounts under Sections 2.17 and 2.19, and, if applicable, the
Payment Premium pursuant to Section 2.09(c) (with such assignment being deemed to be a
voluntary prepayment for purposes of determining the applicability of Section 2.09(c), such
amount to be payable by the Borrower)) and (z) the Borrower shall have required each other Lender
that delivered a notice pursuant to the same Section, or refused to consent to the same amendment,
waiver or other modification of any Loan Document as the Lender being required to transfer and
assign its interests, rights and obligations pursuant to this Section 2.16(a) or each other
Defaulting Lender, as the case may be, to substantially concurrently assign all of its interests,
rights and obligations under this Agreement to an Eligible Assignee; provided further that, if
prior to any such transfer and assignment the circumstances or event that resulted in such Lender’s
claim for compensation under Section 2.17, notice under Section 2.18 or the amounts
paid pursuant to Section 2.15, as the case may be, cease to cause such Lender to suffer
increased costs or reductions in amounts received or receivable or reduction in return on capital,
or cease to have the consequences specified in Section 2.18, or cease to result in amounts
being payable under Section 2.15, as the case may be (including as a result of any action
taken by such Lender pursuant to paragraph (b) below), or if such Lender shall waive its right to
claim further compensation under Section 2.17 in respect of such circumstances or event or
shall withdraw its notice under Section 2.18 or shall waive its right to further payments
under Section 2.15 in respect of such circumstances or event or shall consent to the
proposed amendment, waiver, consent or other modification, or if such Lender shall cease to be a
Defaulting Lender, as the case may be, then such Lender shall not thereafter be required to make
any such transfer and assignment hereunder. Each Lender hereby grants to the Administrative Agent
an irrevocable power of attorney (which power is coupled with an interest) to execute and deliver,
on behalf of such Lender, as assignor, any Assignment and Acceptance necessary to effectuate any
assignment of such Lender’s interests hereunder in the circumstances contemplated by this
Section 2.16(a).

(b) If (i) any Lender shall request compensation under Section 2.17, (ii) any Lender
delivers a notice described in Section 2.18 or (iii) the Borrower is required to pay any
additional amount to any Lender or any Governmental Authority on account of any Lender, pursuant to
Section 2.15, then such Lender shall use reasonable efforts (which shall not require such
Lender to incur an unreimbursed loss or unreimbursed cost or expense or otherwise take any action
inconsistent with its internal policies or legal or regulatory restrictions or suffer any
disadvantage or burden deemed by it to be significant) (x) to file any certificate or document
reasonably requested in writing by the Borrower or (y) to assign its rights and delegate and
transfer its obligations hereunder to another of its offices, branches or affiliates, if such
filing or assignment would reduce its claims for compensation under Section 2.17 or enable
it to withdraw its notice pursuant to Section 2.18 or would reduce amounts payable pursuant
to Section 2.15, as the case may be, in the future. The Borrower hereby agrees to pay all
reasonable costs and expenses incurred by any Lender in connection with any such filing or
assignment, delegation and transfer.

 

36

 

SECTION 2.17. Reserve Requirements; Change in Circumstances. (a) Notwithstanding any other
provision of this Agreement, if any Change in Law shall impose, modify or deem applicable any
reserve, special deposit or similar requirement against assets of, deposits with or for the account
of or credit extended by any Lender (except any such reserve requirement which is reflected in the
Adjusted
LIBO Rate) or shall impose on such Lender or the London interbank market any other condition
affecting this Agreement or the Loans made by such Lender or any participation therein, and the
result of any of the foregoing shall be to increase the cost to such Lender of maintaining any Loan
or increase the cost to any Lender of purchasing or maintaining a participation therein or to
reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal,
interest or otherwise) by an amount deemed by such Lender to be material (excluding for purposes of
this clause (a) any Indemnified Taxes or Other Taxes covered by Section 2.15 and the
imposition of, or any change in the rate of, any Excluded Tax payable by such Lender), then the
Borrower will pay to such Lender upon demand such additional amount or amounts as will compensate
such Lender for such additional costs incurred or reduction suffered.

(b) If any Lender shall have determined that any Change in Law regarding capital adequacy has
or would have the effect of reducing the rate of return on such Lender’s capital or on the capital
of such Lender’s holding company, if any, as a consequence of this Agreement or the Loans made to a
level below that which such Lender or such Lender’s holding company could have achieved but for
such Change in Law (taking into consideration such Lender’s policies and the policies of such
Lender’s holding company with respect to capital adequacy) by an amount deemed by such Lender to
be material, then from time to time the Borrower shall pay to such Lender such additional amount or
amounts as will compensate such Lender or such Lender’s holding company for any such reduction
suffered.

(c) A certificate of a Lender setting forth the amount or amounts necessary to compensate such
Lender or its holding company, as applicable, as specified in paragraph (a) or (b) above shall be
delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay
such Lender the amount shown as due on any such certificate delivered by it within 10 days after
its receipt of the same.

(d) Failure or delay on the part of any Lender to demand compensation for any increased costs
or reduction in amounts received or receivable or reduction in return on capital shall not
constitute a waiver of such Lender’s right to demand such compensation; provided that the Borrower
shall not be under any obligation to compensate any Lender under paragraph (a) or (b) above with
respect to increased costs or reductions with respect to any period prior to the date that is 120
days prior to such request if such Lender knew or could reasonably have been expected to know of
the circumstances giving rise to such increased costs or reductions and of the fact that such
circumstances would result in a claim for increased compensation by reason of such increased costs
or reductions; provided further that the foregoing limitation shall not apply to any increased
costs or reductions arising out of the retroactive application of any Change in Law within such
120-day period. The protection of this Section 2.17 shall be available to each Lender
regardless of any possible contention of the invalidity or inapplicability of the Change in Law
that shall have occurred or been imposed.

 

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SECTION 2.18. Change in Legality. (a) Notwithstanding any other provision of this Agreement,
if any Change in Law shall make it unlawful for any Lender to make or maintain any Eurodollar Loan
or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan,
then, by written notice to the Borrower and to the Administrative Agent:

(i) such Lender may declare that Eurodollar Loans will not thereafter (for the duration
of such unlawfulness) be made by such Lender hereunder (or be continued for additional
Interest Periods) and ABR Loans will not thereafter (for such duration) be converted into
Eurodollar Loans, whereupon any request to convert an ABR Loan to a Eurodollar Loan or to
continue a Eurodollar Loan for an additional Interest Period shall, as to such Lender only,
be deemed a request for an ABR Loan (or a request to continue an ABR Loan as such for an
additional Interest Period or to convert a Eurodollar Loan into an ABR Loan, as the
case may be), unless such declaration shall be subsequently withdrawn; and

(ii) such Lender may require that all outstanding Eurodollar Loans made by it be
converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically
converted to ABR Loans as of the effective date of such notice as provided in paragraph (b)
below.

In the event any Lender shall exercise its rights under (i) or (ii) above, all payments and
prepayments of principal that would otherwise have been applied to repay the Eurodollar Loans that
would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead
be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion
of, such Eurodollar Loans.

(b) For purposes of this Section 2.18, a notice to the Borrower by any Lender shall be
effective as to each Eurodollar Loan made by such Lender, if lawful, on the last day of the
Interest Period then applicable to such Eurodollar Loan; in all other cases such notice shall be
effective on the date of receipt by the Borrower.

SECTION 2.19. Breakage. The Borrower shall indemnify each Lender against any loss or expense
that such Lender may sustain or incur as a consequence of (a) any event, other than a default by
such Lender in the performance of its obligations hereunder, which results in (i) such Lender
receiving or being deemed to receive any amount on account of the principal of any Eurodollar Loan
prior to the end of the Interest Period in effect therefor or (ii) the conversion of the interest
rate on any Loan from the LIBO Rate to the Alternate Base Rate, or the conversion of the Interest
Period with respect to any Loan, in each case other than on the last day of the Interest Period in
effect therefor (any of the events referred to in this clause (a) being called a “Breakage Event”),
(b) any default in the making of any payment or prepayment required to be made hereunder, or (c)
any assignment of a Eurodollar Loan on a day other than the end of the Interest Period in effect
therefor as a result of a request by the Borrower pursuant to Section 2.16. In the case of
any Breakage Event, such loss shall include an amount equal to the excess, as reasonably determined
by such Lender, of (i) its cost of obtaining funds for the Eurodollar Loan that is the subject of
such Breakage Event for the period from the date of such Breakage Event to the last day of the
Interest Period in effect (or that would have been in effect) for such Loan over (ii) the amount of
interest likely to be realized by such Lender in redeploying the funds released or not utilized by
reason of such Breakage Event for such period. A certificate of any Lender setting forth any
amount or amounts which such Lender is entitled to receive pursuant to this Section 2.19
shall be delivered to the Borrower and shall be conclusive absent manifest error.

 

38

 

SECTION 2.20. Alternate Rate of Interest. In the event, and on each occasion, that on the day
two Business Days prior to the commencement of any Interest Period for a Eurodollar Loan the
Administrative Agent shall have determined that Dollar deposits in the principal amounts of such
Eurodollar Loan are not generally available in the London interbank market, or that the rates at
which such Dollar deposits are being offered will not adequately and fairly reflect the cost to the
majority of Lenders of making or maintaining Eurodollar Loans during such Interest Period, or that
reasonable means do not exist for ascertaining the Adjusted LIBO Rate, the Administrative Agent
shall, as soon as practicable thereafter, give written or fax notice of such determination to the
Borrower and the Lenders. In the event of any such determination, until the Administrative Agent
shall have advised the Borrower and the Lenders that the circumstances giving rise to such notice
no longer exist, any request by the Borrower for a Eurodollar Loan pursuant to Section 2.02
or Section 2.07 shall be deemed to be a request for an ABR Loan. Each determination by the
Administrative Agent under this Section 2.20 shall be conclusive absent manifest error.

SECTION 2.21. Incremental Loans. (a) Subject to Section 2.21(c), the Borrower may,
not more than three times after the Closing Date, by written notice to the Administrative Agent
from time to time, request Incremental Loan Commitments in an aggregate amount not to exceed the
Incremental Loan Amount from one or more Incremental Lenders, all of which must be Eligible
Assignees. Such notice shall set forth (i) the amount of the Incremental Loan Commitments being
requested (which shall be in minimum increments of $1,000,000 and a minimum amount of $5,000,000 or
such lesser amount equal to the remaining Incremental Loan Amount), (ii) the date on which such
Incremental Loan Commitments are requested to become effective (which shall not be less than 10
Business Days nor more than 60 days after the date of such notice), and (iii) whether such
Incremental Loan Commitments are commitments to make additional Loans or commitments to make term
loans with terms different from the Loans (“Other Loans”).

(b) The Borrower may seek Incremental Loan Commitments from existing Lenders (each of which
shall be entitled to agree or decline to participate in its sole discretion) and additional banks,
financial institutions and other institutional lenders who will become Incremental Lenders in
connection therewith. The Borrower and each Incremental Lender shall execute and deliver to the
Administrative Agent an Incremental Loan Assumption Agreement and such other documentation as the
Administrative Agent shall reasonably specify to evidence the Incremental Loan Commitment of each
Incremental Lender; provided that if the related Incremental Loans are to be issued with original
issue discount, the applicable Incremental Loan Assumption Agreement shall set forth the amount of
such original issue discount (which discount shall apply to all such Incremental Loans and
Section 9.20 shall be amended to reflect such original issue discount). The terms and
provisions of the Incremental Loans shall be substantially identical to those of the Loans, except
as otherwise set forth in the immediately succeeding sentence. Without the prior written consent
of the Required Lenders, (i) the final maturity date of any Other Loans shall be no earlier than
the Maturity Date, (ii) the average life to maturity of the Other Loans shall be no shorter than
the average life to maturity of the Loans and (iii) if the initial yield on such Other Loans (as
determined by the Administrative Agent to be equal to the sum of (x) the margin above the Adjusted
LIBO Rate on such Other Loans and (y) if the “effective interest rate margin” for such Other Loans
as of the date of incurrence of such Other Loans (which, for purposes of calculating the “effective
interest rate margin” only, shall be determined by the Administrative Agent and shall include all
upfront or similar fees, rate floors or original issue discount (amortized over the life of such
Other Loans) payable to all Lenders providing such Other Loans) exceeds the “effective interest
rate margin” then applicable to existing outstanding Loans (determined on the same basis as
provided in the immediately preceding parenthetical) by more than 50 basis points, the Applicable
Margins for all then outstanding Loans shall be increased automatically as of such date by the
amount of such excess (but only by the amount in excess of 50 basis points). The Administrative
Agent shall promptly notify each Lender as to the effectiveness of each Incremental Loan Assumption
Agreement. Each of the parties hereto hereby agrees that, upon the effectiveness of any Incremental
Loan Assumption Agreement, this Agreement shall be deemed amended to the extent (but only to the
extent) necessary to reflect the existence and terms of the Incremental Loan Commitment and the
Incremental Loans evidenced thereby, and the Administrative Agent and the Borrower may revise this
Agreement to evidence such amendments.

 

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(c) Notwithstanding the foregoing, no Incremental Loan Commitment shall become effective under
this Section 2.21 unless (i) on the date of such effectiveness, the conditions set forth in
paragraphs (b) and (c) of Section 4.01 shall be satisfied (it being agreed that, for
purposes of this clause (i), any reference to the “Closing Date” in any such paragraph of
Section 4.01 or in the lead-in language to Section 4.01 shall be deemed to be a
reference to the applicable “Incremental Loan Closing Date”) and the Administrative Agent shall
have received a certificate to that effect dated such date and executed by a Financial Officer of
the Borrower, (ii) the Borrower is otherwise in pro forma compliance with each of Sections
6.10, 6.11, 6.12 and 6.17, (iii) except as otherwise specified or
required in the applicable Incremental Loan Assumption Agreement, the Administrative Agent shall
have received (with sufficient
copies for each of the Incremental Lenders) legal opinions, board resolutions, public records
and closing certificates (other than insurance certificates) reasonably requested by the
Administrative Agent and consistent with those delivered on the Closing Date under Section
4.01, (iv) prior to such effectiveness, if the relevant Incremental Loan Maturity Date (A) is
different from the Maturity Date, or (B) is different from the maturity date of the Loans specified
in the Borrower Mortgage, as then in effect, the Borrower Mortgage shall have been amended (or, if
necessary or reasonably deemed advisable by the Collateral Agent, amended and restated or otherwise
modified) to confirm that the Borrower Mortgage secures the Obligations with respect to such
Incremental Loans, and to reflect the Final Maturity Date, (v) on or prior to the date of such
effectiveness, the title insurance company (or an agent therefor) that issued, in favor of the
Collateral Agent, the lender’s original title insurance policy in connection with the Loans made on
the Closing Date shall have issued (or executed and delivered to the Collateral Agent an
irrevocable commitment to issue) in favor of the Collateral Agent, (A) such additional and/or
replacement title insurance in an amount equal to (when combined with the amount of the original
title insurance remaining in place) the aggregate principal amount of the Loans outstanding after
giving effect to the proposed Incremental Loans, and (B) such endorsements, coinsurance and
reinsurance as may be reasonably requested by the Collateral Agent or any Lender (including any
Lender that is not an Incremental Lender), insuring such amended, amended and restated or otherwise
modified Borrower Mortgage as a first lien on the Mortgaged Property (as defined therein), subject
to any Liens permitted by Section 6.02 and otherwise no less favorable to the Lenders than
the original title insurance issued on the Closing Date (with such changes as are necessary to
comply with customary title insurance practices), (vi) the Leverage Ratio is less than 1.50 to
1.00, both prior to and after giving pro forma effect to the proposed Incremental Loans and (vii)
the aggregate principal amount of the Loans outstanding after giving effect to the proposed
Incremental Loans does not exceed $120,000,000.

(d) Each of the parties hereto hereby agrees that the Administrative Agent may, in
consultation with the Borrower, take any and all action as may be reasonably necessary to ensure
that all Incremental Loans (other than Other Loans), when originally made, are included in each
borrowing of outstanding Loans on a pro rata basis. This may be accomplished by requiring each
outstanding Eurodollar borrowing to be converted into an ABR borrowing on the date of each
Incremental Loan, or by allocating a portion of each Incremental Loan to each outstanding
Eurodollar borrowing on a pro rata basis. Any conversion of Eurodollar Loans to ABR Loans required
by the preceding sentence shall be subject to Section 2.19. If any Incremental Loan is to
be allocated to an existing Interest Period for a Eurodollar borrowing, then the interest rate
thereon for such Interest Period and the other economic consequences thereof shall be as set forth
in the applicable Incremental Loan Assumption Agreement. In addition, to the extent any Incremental
Loans are not Other Loans, the scheduled amortization payments under Section 2.08(a)(i)
required to be made after the making of such Incremental Loans shall be ratably increased by
the aggregate principal amount of such Incremental Loans and shall be further increased for all
Lenders on a pro rata basis to the extent necessary to avoid any reduction in the amortization
payments to which the Lenders were entitled before such recalculation.

 

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SECTION 2.22. Defaulting Lenders. (a) Defaulting Lender Adjustments.
Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a
Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the
extent permitted by applicable law:

(i) Waivers and Amendments. Such Defaulting Lender’s right to approve or
disapprove any amendment, waiver or consent with respect to this Agreement shall be
restricted as set forth in the definition of Required Lenders.

(ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees or
other amounts received by the Administrative Agent for the account of such Defaulting Lender
(whether voluntary or mandatory, at maturity, pursuant to Article VII or
otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to
Section 9.06 shall be applied at such time or times as may be determined by the
Administrative Agent as follows: first, to the payment of any amounts owing by such
Defaulting Lender to the Administrative Agent hereunder; second, as the Borrower may request
(so long as no Default or Event of Default exists), to the funding of any Loan in respect of
which such Defaulting Lender has failed to fund its portion thereof as required by this
Agreement, as determined by the Administrative Agent; third, if so determined by the
Administrative Agent and the Borrower, to be held in a deposit account and released pro rata
in order to satisfy such Defaulting Lender’s potential future funding obligations with
respect to Loans under this Agreement; fourth, to the payment of any amounts owing to the
Lenders as a result of any judgment of a court of competent jurisdiction obtained by any
Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its
obligations under this Agreement; fifth, so long as no Default or Event of Default exists,
to the payment of any amounts owing to the Borrower as a result of any judgment of a court
of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a
result of such Defaulting Lender’s breach of its obligations under this Agreement; and
sixth, to such Defaulting Lender or as otherwise directed by a court of competent
jurisdiction; provided that if (x) such payment is a payment of the principal amount of any
Loans in respect of which such Defaulting Lender has not fully funded its appropriate share,
and (y) such Loans were made at a time when the conditions set forth in Sections
4.01(a), (b) and (c) were satisfied or waived, such payment shall be
applied solely to pay the Loans of all Non-Defaulting Lenders on a pro rata basis prior to
being applied to the payment of any Loans of such Defaulting Lender until such time as all
Loans are held by the Lenders pro rata in accordance with the Commitments. Any payments,
prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or
held) to pay amounts owed by a Defaulting Lender pursuant to this Section 2.22 shall
be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably
consents hereto.

(b) Defaulting Lender Cure. If the Borrower and the Administrative Agent agree in
writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the
parties hereto, whereupon as of the effective date specified in such notice and subject to any
conditions set forth therein, that Lender will, to the extent applicable, purchase at par that
portion of outstanding Loans of the other Lenders or take such other actions as the Administrative
Agent may determine to be necessary to cause the Loans to be held pro rata by the Lenders in
accordance with the Commitments, whereupon such Lender will cease to be a Defaulting Lender;
provided that no adjustments will be made retroactively with respect to fees accrued or payments
made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided,
further, that except to the extent otherwise expressly agreed by the affected parties, no change
hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any
party hereunder arising from that Lender’s having been a Defaulting Lender.

 

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ARTICLE III

Representations and Warranties

Each of Parent Holdings and the Borrower represents and warrants to the Administrative Agent,
the Collateral Agent and each of the Lenders that:

SECTION 3.01. Organization; Powers. Each Loan Party (a) is duly organized, validly existing
and in good standing under the laws of the jurisdiction of its organization, (b) has all requisite
power and authority to own its property and assets and to carry on its business as now conducted
and as proposed to be conducted, (c) is qualified to do business in, and is in good standing in,
every jurisdiction
where such qualification is required, except where the failure so to qualify could not
reasonably be expected to result in a Material Adverse Effect, and (d) has the power and authority
to execute, deliver and perform its obligations under each of the Loan Documents and each other
agreement or instrument contemplated thereby to which it is or will be a party and, in the case of
the Borrower, to borrow hereunder.

SECTION 3.02. Authorization. The Transactions (a) have been duly authorized by all requisite
corporate or other organizational and, if required, stockholder action and (b) will not (i) violate
(A) any provision of law, statute, rule or regulation, or of the certificate or articles of
incorporation or other constitutive documents or by-laws of any Loan Party, (B) any order of any
Governmental Authority or (C) any provision of any indenture, agreement or other instrument to
which any Loan Party is party or by which any of them or any of their property is or may be bound,
(ii) be in conflict with, result in a breach of or constitute (alone or with notice or lapse of
time or both) a default under, or give rise to any right to accelerate or to require the
prepayment, repurchase or redemption of any obligation under any such indenture, agreement or other
instrument or (iii) result in the creation or imposition of any Lien upon or with respect to any
property or assets now owned or hereafter acquired by any Loan Party(other than any Lien created
hereunder or under the Security Documents).

SECTION 3.03. Enforceability. This Agreement has been duly executed and delivered by Parent
Holdings and the Borrower and constitutes, and each other Loan Document when executed and delivered
by each Loan Party party thereto will constitute, a legal, valid and binding obligation of such
Loan Party enforceable against such Loan Party in accordance with its terms.

SECTION 3.04. Governmental Approvals. No action, consent or approval of, registration or
filing with or any other action by any Governmental Authority is or will be required in connection
with the Transactions, except for (a) the filing of Uniform Commercial Code financing statements
and filings with the United States Patent and Trademark Office and the United States Copyright
Office (to the extent applicable), (b) recordation of the Mortgages, (c) other registrations and
filings required for the perfection of security interests in the Collateral, and (d) such as have
been made or obtained and are in full force and effect.

SECTION 3.05. Financial Statements. (a) Parent Holdings has heretofore furnished to the
Lenders (1) its consolidated balance sheets and related statements of income, stockholder’s equity
and cash flows, (i) as of and for the fiscal years ended September 30, 2008 audited by and
accompanied by the opinion of Ehrhardt Keefe Steiner & Hottman P.C. independent registered public
accountants and (ii) as of and for the fiscal years ended September 30, 2009 and September 30, 2010
audited by and accompanied by the opinion of PricewaterhouseCoopers LLP independent registered
public accountants, and (2) its unaudited consolidated balance sheets and related statements of
income, stockholders’ equity and cash flows, as of and for the fiscal quarters ended December 31,
2010 and March 31, 2011, certified by its chief financial officer. Such financial statements
present fairly the financial condition and results of operations and cash flows of Parent Holdings
and its consolidated Subsidiaries as of such dates and for such periods. Such consolidated balance
sheets and the notes thereto disclose all material liabilities, direct or contingent, of Parent
Holdings and its consolidated Subsidiaries as of the dates thereof. Such financial statements were
prepared in accordance with GAAP applied on a consistent basis, subject, in the case of unaudited
financial statements, to year-end audit adjustments and the absence of footnotes.

 

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(b) The Borrower has heretofore delivered to the Lenders its unaudited pro forma consolidated
balance sheet and related pro forma statements of income as of and for the 12-month period ending
on as of the last day of the most recently completed four-fiscal quarter period ending at least 30
days prior to the Closing Date, prepared giving effect to the Transactions as if they had occurred,
with respect to such balance sheet, on such date and, with respect to such statement of income, on
the first day
of the 12-month period ending on such date. Such pro forma financial statements have been
prepared in good faith by the Borrower, based on the assumptions used to prepare the pro forma
financial information contained in the Confidential Information Memorandum (which assumptions are
believed by the Borrower on the date thereof and on the Closing Date to be reasonable), are based
on the best information available to the Borrower as of the date of delivery thereof, accurately
reflect all adjustments required to be made to give effect to the Transactions and present fairly
on a pro forma basis the estimated consolidated financial position of the Borrower and its
consolidated subsidiaries as of such date and for such period, assuming that the Transactions had
actually occurred at such date or at the beginning of such period, as the case may be.

SECTION 3.06. No Material Adverse Change. No event, change or condition has occurred that has
had, or could reasonably be expected to have, a material adverse effect on the business, assets,
liabilities, operations, condition (financial or otherwise), operating results or prospects of
Parent Holdings, the Borrower and the Subsidiaries, taken as a whole, since September 30, 2010.

SECTION 3.07. Title to Properties; Possession Under Leases. (a) Each Loan Party has good and
marketable title to, or valid leasehold interests in, all its material properties and assets
(including all Mortgaged Property), except for minor defects in title that do not interfere with
its ability to conduct its business as currently conducted or to utilize such properties and assets
for their intended purposes. All such material properties and assets are free and clear of Liens,
other than Liens not prohibited by Section 6.02.

(b) Each Loan Party has complied with all obligations under all material leases to which it is
a party and all such leases are in full force and effect. Each Loan Party enjoys peaceful and
undisturbed possession under all such material leases.

(c) As of the Closing Date, none of the Loan Parties has received any notice of, nor has any
knowledge of, any pending or contemplated condemnation proceeding affecting the Mortgaged
Properties or any sale or disposition thereof in lieu of condemnation.

(d) As of the Closing Date, none of the Loan Parties are obligated under any right of first
refusal, option or other contractual right to sell, assign or otherwise dispose of any Mortgaged
Property or any interest therein.

SECTION 3.08. Subsidiaries. Schedule 3.08 sets forth as of the Closing Date a list of
all Subsidiaries and the percentage ownership interest of Parent Holdings or the Borrower therein.
The shares of capital stock or other ownership interests so indicated on Schedule 3.08 are
fully paid and non-assessable and are owned by Parent Holdings or the Borrower, directly or
indirectly, free and clear of all Liens (other than Liens created under the Security Documents).

 

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SECTION 3.09. Litigation; Compliance with Laws. (a) There are no actions, suits or
proceedings at law or in equity or by or before any Governmental Authority now pending or, to the
knowledge of Parent Holdings or the Borrower, threatened against or affecting Parent Holdings or
the Borrower or any Subsidiary or any business, property or rights of any such Person (i) that
involve any Loan Document or the Transactions or (ii) as to which there is a reasonable possibility
of an adverse determination and that, if adversely determined, could reasonably be expected,
individually or in the aggregate, to result in a Material Adverse Effect.

(b) None of Parent Holdings, the Borrower or any of the Subsidiaries or any of their
respective material properties or assets is in violation of, nor will the continued operation of
their material properties and assets as currently conducted violate, any law, rule or regulation
(including any zoning,
building, Environmental Law, ordinance, code or approval or any building permits) or any
restrictions of record or agreements affecting the Mortgaged Property, or is in default with
respect to any judgment, writ, injunction, decree or order of any Governmental Authority, where
such violation or default could reasonably be expected to result in a Material Adverse Effect.

SECTION 3.10. Reserved.

SECTION 3.11. Federal Reserve Regulations. (a) None of Parent Holdings, the Borrower or any
of the Subsidiaries is engaged principally, or as one of its important activities, in the business
of extending credit for the purpose of buying or carrying Margin Stock.

(b) No part of the proceeds of any Loan will be used, whether directly or indirectly, and
whether immediately, incidentally or ultimately, for any purpose that entails a violation of, or
that is inconsistent with, the provisions of the Regulations of the Board, including Regulation T,
U or X.

SECTION 3.12. Investment Company Act. None of the Loan Parties are an “investment company” as
defined in, or subject to regulation under, the Investment Company Act of 1940.

SECTION 3.13. Use of Proceeds. The Borrower will (a) use the proceeds of the Loans (other
than Incremental Loans) only for the purposes specified in the introductory statement to this
Agreement and (b) use the proceeds of Incremental Loans only for the Plant Expansion.

SECTION 3.14. Tax Returns. Each of Parent Holdings, the Borrower and the Subsidiaries has
filed or caused to be filed all material Federal, state, local and foreign tax returns or materials
required to have been filed by it and has paid or caused to be paid all material Taxes due and
payable by it and all assessments received by it, except Taxes (i) for which an extension for
filing has been obtained by the applicable Person and (ii) that are being contested in good faith
by appropriate proceedings and for which Parent Holdings, the Borrower or such Subsidiary, as
applicable, shall have set aside on its books adequate reserves.

SECTION 3.15. No Material Misstatements. None of the (a) Confidential Information Memorandum
(including any written supplements thereto furnished by or on behalf of Parent Holdings or the
Borrower to the Administrative Agent prior to the Closing Date) or (b) any other information,
reports, financial statements, exhibits or schedules furnished by or on behalf of Parent Holdings
or the Borrower to the Administrative Agent or any Lender in connection with the negotiation of any
Loan Document or included therein or delivered pursuant thereto, taken as a whole, contained,
contains or will contain any material misstatement of fact or omitted, omits or will omit to state
any material fact necessary to make the statements therein, in the light of the circumstances under
which they were, are or will be made, not misleading; provided that to the extent any such
information, report, financial statement, exhibit or schedule was based upon or constitutes a
forecast or projection, each of Parent Holdings and the Borrower represents only that it acted in
good faith and utilized reasonable assumptions (based upon accounting principles consistent with
the historical audited financial statements of Parent Holdings and the Borrower, as applicable)
and due care in the preparation of such information, report, financial statement, exhibit or
schedule.

 

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SECTION 3.16. Employee Benefit Plans. (a) Each of the Borrower and its ERISA Affiliates is
in compliance in all material respects with the applicable provisions of ERISA and the Code and the
regulations and published interpretations thereunder. No ERISA Event has occurred or is reasonably
expected to occur that, when taken together with all other such ERISA Events, could reasonably be
expected to result in material liability of the Borrower or any of its ERISA Affiliates.

(b) None of the Borrower, any Subsidiary Guarantor or any ERISA Affiliate maintains,
contributes to, or is required to contribute to, a Plan, a Multiemployer Plan or a Foreign Pension
Plan.

SECTION 3.17. Environmental Matters. (a) Except as set forth in Schedule 3.17, none
of the Loan Parties (i) has failed to comply with any Environmental Law or to obtain, maintain or
comply, in all material respects, with any material permit, license or other approval required
under any Environmental Law, (ii) has become subject to any material Environmental Liability, (iii)
has received notice of any actual or threatened material Environmental Liability or (iv) knows of
any basis for any material Environmental Liability.

(b) Except as set forth in Schedule 3.17, (i) no real property currently owned, leased
or operated any Loan Party is or, to any Loan Party’s knowledge as of, or at any time after, April
26, 2006 has, during the applicable Loan Party’s ownership, lease or operation thereof, been in
material non-compliance with any applicable Environmental Laws or subject to any material
Environmental Liability and (ii) to any Loan Party’s knowledge since April 26, 2006, no real
property formerly owned, leased or operated by the applicable Loan Party is or has, during the
applicable Loan Party’s ownership, lease or operation thereof, been, in material non-compliance
with any applicable Environmental Laws or subject to any material Environmental Liability.

(c) None of the matters disclosed on Schedule 3.17, individually or in the aggregate,
has had or could reasonably be expected to result in a Material Adverse Effect.

SECTION 3.18. Insurance. Schedule 3.18 sets forth a true, complete and correct
description of all insurance maintained by the Borrower or by the Borrower for its subsidiaries as
of the date hereof and the Closing Date. As of each such date, such insurance is in full force and
effect and all premiums have been duly paid. The Borrower and its subsidiaries have insurance in
such amounts and covering such risks and liabilities as are in accordance with normal industry
practice.

SECTION 3.19. Security Documents. (a) The Guarantee and Collateral Agreement, upon execution
and delivery thereof by the parties thereto, will create in favor of the Collateral Agent, for the
ratable benefit of the Secured Parties, a legal, valid and enforceable security interest in the
Collateral (as defined in the Guarantee and Collateral Agreement) and the proceeds thereof and (i)
when the Pledged Collateral (as defined in the Guarantee and Collateral Agreement) is delivered to
the Collateral Agent, the Lien created under Guarantee and Collateral Agreement shall constitute a
perfected first priority Lien on, and security interest in, all right, title and interest of the
Loan Parties in such Pledged Collateral, in each case prior and superior in right to any other
Person, and (ii) when financing statements in appropriate form are filed in the offices specified
on Schedule 3.19(a), the Liens created under the Guarantee and Collateral Agreement will
constitute a fully perfected Lien on, and security interest in, all right, title and interest of
the Loan Parties in such Collateral (other than Intellectual Property, as defined in the Guarantee
and Collateral Agreement and other property in which a security interest may not be perfected by
the filing of a financing statement), in each case prior and superior in right to any other Person,
other than with respect to Liens expressly permitted by Section 6.02.

 

45

 

(b) Upon the recordation of the Guarantee and Collateral Agreement (or a short-form security
agreement in form and substance reasonably satisfactory to the Borrower and the Collateral Agent)
with the United States Patent and Trademark Office and the United States Copyright Office, together
with the financing statements in appropriate form filed in the offices specified on Schedule
3.19(a), the Lien created under the Guarantee and Collateral Agreement shall constitute a
perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in
the Intellectual Property (as defined in the Guarantee and Collateral Agreement) in which a
security interest may be perfected by filing in the United States and its territories and
possessions, in each case prior and superior in right to
any other Person (it being understood that subsequent recordings in the United States Patent
and Trademark Office and the United States Copyright Office may be necessary to perfect a Lien on
registered trademarks and patents, trademark and patent applications and registered copyrights
acquired by the Loan Parties after the date hereof).

(c) The Mortgages are effective to create in favor of the Collateral Agent, for the ratable
benefit of the Secured Parties, a legal, valid and enforceable Lien on all of the Loan Parties’
right, title and interest in and to the Mortgaged Property thereunder and the proceeds thereof, and
when the Mortgages are filed in the offices specified on Schedule 3.19(c), the Mortgages
shall constitute a perfected Lien on, and security interest in, all right, title and interest of
the Loan Parties in such Mortgaged Property and the proceeds thereof, in each case prior and
superior in right to any other Person, other than with respect to the rights of Persons pursuant to
Liens expressly permitted by Section 6.02.

SECTION 3.20. Location of Real Property and Leased Premises. (a) Schedule 3.20(a)
lists completely and correctly as of the Closing Date all real property owned by the Borrower and
the Subsidiaries and the addresses thereof. The Borrower and the Subsidiaries own in fee all the
real property set forth on Schedule 3.20(a).

(b) Schedule 3.20(b) lists completely and correctly as of the Closing Date all real
property leased by the Borrower and the Subsidiaries and the addresses thereof. The Borrower and
the Subsidiaries have valid leases in all the real property set forth on Schedule 3.20(b).

SECTION 3.21. Labor Matters. As of the date hereof and the Closing Date, there are no
strikes, lockouts or slowdowns against any Loan Party pending or, to the knowledge of Parent
Holdings or the Borrower, threatened. The hours worked by and payments made to employees of the
Loan Parties have not been in violation of the Fair Labor Standards Act or any other applicable
Federal, state, local or foreign law dealing with such matters. All payments due from any Loan
Party, or for which any claim may be made against any Loan Party, on account of wages and employee
health and welfare insurance and other benefits, have been paid or accrued as a liability on the
books of the applicable Loan Party. The consummation of the Transactions will not give rise to any
right of termination or right of renegotiation on the part of any union under any collective
bargaining agreement to which any Loan Party is bound.

SECTION 3.22. Solvency. Immediately after the consummation of the Transactions to occur on
the Closing Date and immediately following the making of the Loans on the Closing Date or the
applicable Incremental Loan Closing Date, as the case may be, and after giving effect to the
application of the proceeds of such Loans, (a) the fair value of the assets of the Borrower,
individually, and the Loan Parties, collectively, at a fair valuation, will exceed its or their
debts and liabilities, subordinated, contingent or otherwise; (b) the present fair saleable value
of the property of the Borrower, individually, and the Loan Parties, collectively, will be greater
than the amount that will be required to pay the probable liability of its or their debts and other
liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become
absolute and matured; (c) each Loan Party will be able to pay its debts and liabilities,
subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured;
and (d) the Borrower, individually, and the Loan Parties, collectively, will not have unreasonably
small capital with which to conduct the business in which it is or they are engaged as such
business is now conducted and is proposed to be conducted following the Closing Date or the
applicable Incremental Loan Closing Date, as the case may be.

 

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SECTION 3.23. Sanctioned Persons; USA PATRIOT Act. None of Parent Holdings, the Borrower or
any Subsidiary nor, to the knowledge of the Borrower, any director, officer, agent, employee or
Affiliate of Parent Holdings, the Borrower or any Subsidiary is (i) currently subject to any U.S.
sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
(“OFAC”), and the Borrower will not directly or indirectly use the proceeds of the Loans or
otherwise make available such proceeds to any Person, for the purpose of financing the activities
of any Person currently subject to any U.S. sanctions administered by OFAC or (ii) in violation of
the USA PATRIOT Act.

ARTICLE IV

Conditions of Lending

The obligations of the Lenders to make Loans hereunder are subject to the satisfaction of the
following conditions:

SECTION 4.01. Conditions. On the Closing Date:

(a) The Administrative Agent shall have received a Borrowing Request as required by
Section 2.02(a).

(b) The representations and warranties set forth in Article III and in each other Loan
Document shall be true and correct in all material respects on and as of the Closing Date, except
to the extent such representations and warranties expressly relate to an earlier date (in which
case such representations and warranties shall be true and correct in all material respects as of
such earlier date).

(c) At the time of and immediately after the making of the Loans, no Default or Event of
Default shall have occurred and be continuing.

(d) The Administrative Agent shall have received, on behalf of itself and the Lenders, a
favorable written opinion of (i) Latham & Watkins, LLP, counsel for Parent Holdings and the
Borrower, in form and substance satisfactory to the Administrative Agent and (ii) Holland & Hart
LLP, local counsel for Parent Holdings and the Borrower, in form and substance satisfactory to the
Administrative Agent, in each case, (A) dated the Closing Date, (B) addressed to the
Administrative Agent and the Lenders, and (C) covering such other matters relating to the Loan
Documents and the Transactions as the Administrative Agent shall reasonably request and Parent
Holdings and the Borrower hereby request such counsel to deliver such opinions.

(e) All legal matters incident to this Agreement, the Loans and the other Loan Documents shall
be satisfactory to the Lenders and to the Administrative Agent.

 

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(f) The Administrative Agent shall have received (i) a copy of the certificate or articles of
incorporation or articles of organization, as applicable, including all amendments thereto, of each
Loan Party, certified as of a recent date by the Secretary of State of the state of its
organization, and a certificate as to the good standing of each Loan Party as of a recent date,
from such Secretary of State; (ii) a certificate of the Secretary or Assistant Secretary of each
Loan Party dated the Closing Date and certifying (A) that attached thereto is a true and complete
copy of the by-laws or operating or limited liability company agreement, as applicable of such Loan
Party as in effect on the Closing Date and at all times since a date prior to the date of the
resolutions described in clause (B) below, (B) that attached thereto is a true and complete copy of
resolutions duly adopted by the Board of Directors of such Loan Party authorizing the execution,
delivery and performance of the Loan Documents to which such Person is a party and, in the case of
the Borrower, the borrowings hereunder, and that such resolutions have not been modified, rescinded
or amended and are in full force and effect, (C) that the certificate or articles of incorporation
or the articles of organization, as applicable, of such Loan Party have not been amended since the
date of the last amendment thereto shown on the certificate of good standing furnished pursuant
to clause (i) above, and (D) as to the incumbency and specimen signature of each officer
executing any Loan Document or any other document delivered in connection herewith on behalf of
such Loan Party; (iii) a certificate of another officer as to the incumbency and specimen signature
of the Secretary or Assistant Secretary executing the certificate pursuant to clause (ii) above and
(iv) such other documents as the Lenders or the Administrative Agent may reasonably request.

(g) The Administrative Agent shall have received a certificate, signed by a Financial Officer
of the Borrower, (i) confirming compliance with the conditions precedent set forth in Sections
4.01(b) and (c) and (ii) certifying that Parent Holdings and its consolidated
Subsidiaries, after giving effect to the Transactions and the other transactions contemplated
hereby, are solvent, which certification may be made in the Borrowing Request, and shall be dated
the Closing Date or, if such certification is made in the Borrowing Request, shall be dated the
date of the Borrowing Request.

(h) The Administrative Agent shall have received all Fees and other amounts due and payable on
or prior to the Closing Date, including, to the extent invoiced, reimbursement or payment of all
out-of-pocket expenses required to be reimbursed or paid by the Borrower hereunder or under any
other Loan Document.

(i) The Security Documents shall have been duly executed by each Loan Party that is to be a
party thereto and shall be in full force and effect on the Closing Date. The Collateral Agent on
behalf of the Secured Parties shall have a security interest in the Collateral of the type and
priority described in each executed Security Document.

(j) The Lenders shall have received the financial statements and opinions referred to in
Section 3.05, none of which shall demonstrate a material adverse change in the financial
condition of Parent Holdings or the Borrower from (and shall not otherwise be materially
inconsistent with) the financial statements or forecasts previously provided to the Lenders.

(k) At least five Business Days prior to the Closing Date, the Lenders shall have received, to
the extent requested, all documentation and other information required by regulatory authorities
under applicable “know your customer” and anti-money laundering rules and regulations, including
the USA PATRIOT Act.

(l) The Collateral Agent shall have received a Perfection Certificate with respect to the Loan
Parties dated on or prior to the Closing Date and duly executed by a Responsible Officer of Parent
Holdings and the Borrower, and shall have received the results of (i) a search of the Uniform
Commercial Code filings (or equivalent filings) made with respect to the Loan Parties in the states
(or other jurisdictions) of formation of such Persons, (ii) United States Patent and Trademark
Office and United States Copyright Office searches made with respect to registered patents,
trademarks and copyrights registered in the name of any of the Loan Parties (to the extent
applicable), and (iii) tax and judgment lien searches in the appropriate office in the state in
which the chief executive office of each such Person is located and in the other jurisdictions in
which such Persons maintain or own real or personal property, and in each case as indicated on such
Perfection Certificate, together with copies of the financing statements (or similar documents)
disclosed by such search, and accompanied by evidence satisfactory to the Collateral Agent that the
Liens indicated in any such financing statement (or similar document) or other search result would
be permitted under Section 6.02 or have been or will be contemporaneously released or
terminated.

 

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(m) (i) Each of the Security Documents, in form and substance satisfactory to the Lenders,
relating to each of the Mortgaged Properties shall have been duly executed by the parties thereto
and delivered to the Collateral Agent and shall be in full force and effect, (ii) each of such
Mortgaged
Properties shall not be subject to any Lien other than those permitted under Section
6.02, (iii) each of the Mortgages shall have been submitted to a nationally recognized title
insurance company (or an agent therefor) for recording in the recording office as specified on
Schedule 3.19(c) with an irrevocable instruction by the Borrower to record such Mortgages
in accordance with the Collateral Agent’s instructions, and such title insurance company (or such
agent therefor) shall have issued, or executed and delivered to the Collateral Agent an irrevocable
commitment to issue, in favor of the Collateral Agent, a lender’s title insurance policy, in form
and substance acceptable to the Collateral Agent, together with such endorsements, coinsurance and
reinsurance as may be requested by the Collateral Agent and the Lenders, insuring such Mortgages as
a first lien on such Mortgaged Property (subject to any Lien permitted by Section 6.02),
and (iv) the Collateral Agent shall have received such other documents, including, without
limitation, such surveys, abstracts, appraisals and legal opinions required to be furnished
pursuant to the terms of the Mortgages or as reasonably requested by the Collateral Agent or the
Lenders; provided that “no change” affidavits shall be accepted by the Collateral Agent and the
Lenders in lieu of surveys, as applicable.

(n) The Administrative Agent shall have received a copy of, or a certificate as to coverage
under, the insurance policies required by Section 5.02 and the applicable provisions of the
Security Documents, each of which shall be endorsed or otherwise amended to include a customary
lender’s loss payable endorsement and to name the Collateral Agent as additional insured, in form
and substance satisfactory to the Administrative Agent.

(o) All principal, premium, if any, interest, fees and other amounts due or outstanding under
the Existing Credit Agreement shall have been paid in full and all guarantees and security in
support thereof discharged and released, and the Administrative Agent shall have received
reasonably satisfactory evidence thereof. Immediately after giving effect to the Transactions and
the other transactions contemplated hereby, the Loan Parties shall have outstanding no Indebtedness
or preferred stock other than (a) Indebtedness outstanding under this Agreement and the Guarantees
under the Guarantee and Collateral Agreement, and (b) Indebtedness set forth on Schedule
6.01.

(p) All requisite Governmental Authorities and third parties shall have approved or consented
to the Transactions and the other transactions contemplated hereby to the extent required, all
applicable appeal periods have expired and there is no litigation, governmental, administrative or
judicial action, actual or threatened in writing, that could reasonably be expected to restrain,
prevent or impose burdensome conditions on the Transactions.

(q) The Administrative Agreement shall have received a copy of the Management Agreement, as in
effect on the Closing Date, accompanied by a certificate of the Secretary or Assistant Secretary of
the Borrower, certifying that the Management Agreement attached thereto is a true and complete copy
of the Management Agreement as in effect on the Closing Date.

 

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(r) The amount of Unrestricted Cash and Permitted Investments (minus the amount of Investments
received by the Borrower from Parent Holdings or any Subsidiary (other than a subsidiary of the
Borrower) within 90 days prior to the Closing Date) shall, on the Closing Date, be at least
$20,000,000 after giving pro forma effect to the Transactions.

ARTICLE V

Affirmative Covenants

Each of Parent Holdings and the Borrower covenants and agrees with each Lender that so long as
this Agreement shall remain in effect and until the principal of and interest on each Loan, all
Fees and all
other expenses or amounts payable under any Loan Document shall have been paid in full, unless
the Required Lenders shall otherwise consent in writing, each of Parent Holdings and the Borrower
will, and will cause each of the Subsidiaries (other than Excluded Subsidiaries) to:

SECTION 5.01. Existence; Compliance with Laws; Businesses and Properties. (a) Do or cause to
be done all things necessary to preserve, renew and keep in full force and effect its legal
existence, except as otherwise expressly permitted under Section 6.05.

(b) Do or cause to be done all things necessary to obtain, preserve, renew, extend and keep in
full force and effect the rights, licenses, permits, franchises, authorizations, patents,
copyrights, trademarks and trade names material to the conduct of its business; maintain and
operate such business in substantially the manner in which it is presently conducted and operated;
comply in all material respects with all applicable laws, rules, regulations and decrees and orders
of any Governmental Authority, whether now in effect or hereafter enacted; and at all times
maintain and preserve all property material to the conduct of such business and keep such property
in good repair, working order and condition and from time to time make, or cause to be made, all
needful and proper repairs, renewals, additions, improvements and replacements thereto necessary in
order that the business carried on in connection therewith may be properly conducted at all times.

SECTION 5.02. Insurance. (a) Keep its insurable properties adequately insured at all times
by financially sound and reputable insurers; maintain such other insurance, to such extent and
against such risks, including fire and other risks insured against by extended coverage, as is
customary with companies in the same or similar businesses operating in the same or similar
locations, including business interruption insurance, public liability insurance against claims for
personal injury or death or property damage occurring upon, in, about or in connection with the use
of any properties owned, occupied or controlled by it; and maintain such other insurance as may be
required by law.

(b) Cause all such policies covering any Collateral to be endorsed or otherwise amended to
include a customary lender’s loss payable endorsement no less favorable to the Lenders than the
corresponding endorsement delivered on or prior to the Closing Date (with such changes as are
necessary to comply with customary insurance practices), which endorsement shall provide that, from
and after the Closing Date pursuant to Section 4.01(n), if the insurance carrier shall have
received written notice from the Administrative Agent or the Collateral Agent of the occurrence of
an Event of Default, the insurance carrier shall pay all proceeds otherwise payable to the Borrower
or the other Loan Parties under such policies directly to the Collateral Agent; cause all such
policies to provide that neither the Borrower, the Administrative Agent, the Collateral Agent nor
any other party shall be a coinsurer thereunder and to contain such other provisions as the
Administrative Agent or the Collateral Agent may reasonably require from time to time to protect
their interests; deliver original or certified copies of all such policies to the Collateral Agent;
cause each such policy to provide that it shall not be canceled, modified or not renewed (i) by
reason of nonpayment of premium upon not less than 10 days’ prior written notice thereof by the
insurer to the Administrative Agent and the Collateral Agent (giving the Administrative Agent and
the Collateral Agent the right to cure defaults in the payment of premiums) or (ii) for any other
reason upon not less than 30 days’ prior written notice thereof by the insurer to the
Administrative Agent and the Collateral Agent; deliver to the Administrative Agent and the
Collateral Agent, prior to the cancellation, modification or nonrenewal of any such policy of
insurance, a copy of a renewal or replacement policy (or other evidence of renewal of a policy
previously delivered to the Administrative Agent and the Collateral Agent) together with evidence
satisfactory to the Administrative Agent and the Collateral Agent of payment of the premium
therefor.

 

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(c) If at any time the area in which the Premises (as defined in the Mortgages) are located is
designated (i) a “flood hazard area” in any Flood Insurance Rate Map published by the Federal
Emergency Management Agency (or any successor agency), obtain flood insurance in such total
amount as the Administrative Agent or the Collateral Agent may from time to time require, and
otherwise comply with the National Flood Insurance Program as set forth in the Flood Disaster
Protection Act of 1973, as it may be amended from time to time, or (ii) a “Zone 1” area, obtain
earthquake insurance in such total amount as the Administrative Agent or the Collateral Agent may
from time to time require.

(d) With respect to any Mortgaged Property, carry and maintain comprehensive general liability
insurance including the “broad form CGL endorsement” and coverage on an occurrence basis against
claims made for personal injury (including bodily injury, death and property damage) and umbrella
liability insurance against any and all claims, in no event for a combined single limit of less
than that which is customary for companies in the same or similar businesses operating in the same
or similar locations, naming the Collateral Agent as an additional insured, on forms satisfactory
to the Collateral Agent.

(e) Notify the Administrative Agent and the Collateral Agent promptly whenever any separate
insurance concurrent in form or contributing in the event of loss with that required to be
maintained under this Section 5.02 is taken out by any Loan Party; and promptly deliver to
the Administrative Agent and the Collateral Agent a duplicate original copy of such policy or
policies.

SECTION 5.03. Obligations and Taxes. Pay its Indebtedness and other obligations promptly and
in accordance with their terms and pay and discharge promptly when due all Taxes, assessments and
governmental charges or levies imposed upon it or upon its income or profits or in respect of its
property, before the same shall become delinquent or in default, as well as all lawful claims for
labor, materials and supplies or otherwise that, if unpaid, might give rise to a Lien upon such
properties or any part thereof; provided, however, that such payment and discharge shall not be
required with respect to any such Tax, assessment, charge, levy or claim so long as the validity or
amount thereof shall be contested in good faith by appropriate proceedings and the Borrower shall
have set aside on its books adequate reserves with respect thereto in accordance with GAAP and such
contest operates to suspend collection of the contested obligation, Tax, assessment or charge and
enforcement of a Lien and, in the case of a Mortgaged Property, there is no risk of forfeiture of
such property.

SECTION 5.04. Financial Statements, Reports, etc. In the case of Parent Holdings and
Borrower, as applicable, furnish to the Administrative Agent, which shall furnish to each Lender:

(a) within 90 days after the end of each fiscal year, its consolidated statements of
stockholders’ equity and cash flows and consolidated and consolidating balance sheet and related
statements of income showing the financial condition of Parent Holdings and its consolidated
Subsidiaries as of the close of such fiscal year and the results of its operations during such year
and the results of operations of such consolidated Subsidiaries during such year, together with
comparative figures for the immediately preceding fiscal year, all audited by
PricewaterhouseCoopers LLP or other independent registered public accountants of recognized
national standing and accompanied by an opinion of such accountants (which opinion shall be without
a “going concern” or like qualification or exception and without any qualification or exception as
to the scope of such audit) to the effect that such consolidated financial statements fairly
present the financial condition and results of operations of Parent Holdings and its consolidated
Subsidiaries on a consolidated and consolidating basis in accordance with GAAP consistently
applied;

 

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(b) within 90 days after the end of each fiscal year, its consolidated balance sheet and
related statements of income, stockholders’ equity and cash flows showing the financial condition
of the Borrower and its consolidated subsidiaries as of the close of such fiscal year and the
results of its operations and the operations of such subsidiaries during such year, together with
comparative figures for
the immediately preceding fiscal year and adjustments otherwise reflected in the audited
financial statements of Parent Holdings directly related to the Borrower;

(c) within 45 days after the end of each of the first three fiscal quarters of each fiscal
year, its consolidated statements of stockholders’ equity and cash flows and consolidated and
consolidating balance sheet and related statements of income showing the financial condition of
Parent Holdings and its consolidated Subsidiaries as of the close of such fiscal quarter and the
results of its operations and the operations of such Subsidiaries during such fiscal quarter and
the then elapsed portion of the fiscal year, and, other than with respect to quarterly reports
during the remainder of the first fiscal year after the Closing Date, comparative figures for the
same periods in the immediately preceding fiscal year, all certified by one of its Financial
Officers as fairly presenting the financial condition and results of operations of Parent Holdings
and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently
applied, subject to normal year-end audit adjustments;

(d) within 45 days after the end of each of the first three fiscal quarters of each fiscal
year, its consolidated balance sheet and related statements of income, stockholders’ equity and
cash flows showing the financial condition of the Borrower and its consolidated subsidiaries as of
the close of such fiscal quarter and the results of its operations and the operations of such
Subsidiaries during such fiscal quarter and the then elapsed portion of the fiscal year, and, other
than with respect to quarterly reports during the remainder of the first fiscal year after the
Closing Date, comparative figures for the same periods in the immediately preceding fiscal year,
all certified by one of its Financial Officers as fairly presenting the financial condition and
results of operations of the Borrower and its consolidated subsidiaries on a consolidated basis in
accordance with GAAP consistently applied, subject to the absence of footnotes or a tax provision
and normal year-end audit adjustments;

(e) within 30 days after the end of the first two fiscal months of each fiscal quarter, its
consolidated balance sheet and related statements of income and cash flows showing the financial
condition of the Borrower and its consolidated subsidiaries during such fiscal month and the then
elapsed portion of the fiscal year, all certified by one of its Financial Officers as fairly
presenting the financial condition and results of operations of the Borrower and its consolidated
subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to
normal year-end audit adjustments;

(f) concurrently with any delivery of financial statements under paragraph (a), (b), (c) or
(d) above, a certificate of a Financial Officer in the form of Exhibit D (i) certifying
that no Event of Default or Default has occurred or, if such an Event of Default or Default has
occurred, specifying the nature and extent thereof and any corrective action taken or proposed to
be taken with respect thereto and (ii) solely with respect to (a), (b), (c) and (d) above, setting
forth computations in reasonable detail satisfactory to the Administrative Agent demonstrating
compliance with the covenants contained in each of Sections 6.10, 6.11,
6.12 and 6.17 and, in the case of a certificate delivered with the financial
statements required by paragraph (b) above, setting forth the Borrower’s calculation of Excess Cash
Flow;

 

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(g) concurrently with any delivery of financial statements under paragraph (b) above, a
certificate of the accounting firm that reported on such statements (which certificate may be
limited to accounting matters and disclaim responsibility for legal interpretations) certifying
that no Event of Default or Default has occurred with respect to any of Sections 6.10,
6.11, 6.12 and 6.17 or, if such an Event of Default or Default has
occurred, specifying the extent thereof in reasonable detail;

(h) concurrently with any delivery of financial statements under paragraph (b) above, a
certificate of a Financial Officer of the Borrower in the form of Exhibit D certifying that
all Uniform Commercial Code financing statements (including fixture filings, as applicable) or
other appropriate filings recordings or registrations, including all refilings, recordings and
registrations, containing a
description of the Article 9 Collateral (as defined in the Guarantee and Collateral Agreement)
have been filed of record in each governmental, municipal or other appropriate office in each
jurisdiction identified pursuant to Section 4.03(a) of the Guarantee and Collateral Agreement to
the extent necessary to protect and perfect the Security Interest (as defined therein) for a period
of not less than 18 months after the date of such certificate (except as noted therein with respect
to any continuation statements to be filed within such period);

(i) within 45 days after the end of each fiscal quarter of the Borrower, the Borrower shall
deliver to the Collateral Agent a certificate of a Financial Officer of the Borrower identifying in
the format of Schedule III to the Guarantee and Collateral Agreement all Intellectual Property (as
defined in the Guarantee and Collateral Agreement) of any Loan Party in existence on the date
thereof and not then listed on such Schedule or previously so identified to the Collateral Agent;
provided that no such certificate shall be required to be delivered if no such Intellectual
Property is then in existence or if there has been no change since the certificate previously
delivered by the Borrower pursuant to this Section 5.04(i);

(j) within 90 days after the beginning of each fiscal year of the Borrower, a detailed
consolidated budget for such fiscal year (including a projected consolidated balance sheet and
related statements of projected operations and cash flows as of the end of and for such fiscal year
and setting forth the assumptions used for purposes of preparing such budget) and, promptly when
available, any significant revisions of such budget;

(k) promptly after the same become publicly available, copies of all periodic and other
reports, proxy statements and other materials filed by Parent Holdings, the Borrower or any
Subsidiary with the Securities and Exchange Commission, or any Governmental Authority succeeding to
any or all of the functions of said Commission, or with any national securities exchange, or
distributed to its shareholders, as the case may be;

(l) promptly after the request by any Lender, all documentation and other information that
such Lender reasonably requests in order to comply with its ongoing obligations under applicable
“know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT
Act; and

(m) promptly, from time to time, such other information regarding the operations, business
affairs and financial condition of Parent Holdings, the Borrower or any Subsidiary, or compliance
with the terms of any Loan Document, as the Administrative Agent or any Lender may reasonably
request.

SECTION 5.05. Litigation and Other Notices. Furnish to the Administrative Agent and each
Lender prompt written notice of the following:

(a) any Event of Default or Default, specifying the nature and extent thereof and the
corrective action (if any) taken or proposed to be taken with respect thereto;

 

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(b) the filing or commencement of, or any threat or notice of intention of any Person to file
or commence, any action, suit or proceeding, whether at law or in equity or by or before any
Governmental Authority, against the Borrower or any Affiliate thereof that could reasonably be
expected to result in a Material Adverse Effect;

(c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that
have occurred, could reasonably be expected to result in liability of the Borrower and ERISA
Affiliates in an aggregate amount exceeding $2,500,000; and

(d) any development that has resulted in, or could reasonably be expected to result in, a
Material Adverse Effect.

SECTION 5.06. Information Regarding Collateral. (a) Furnish to the Administrative Agent
prompt written notice of any change (i) in any Loan Party’s corporate or other organizational name,
(ii) in the jurisdiction of organization or formation of any Loan Party, (iii) in any Loan Party’s
identity or corporate or other organizational structure or (iv) in any Loan Party’s Federal
Taxpayer Identification Number. Parent Holdings and the Borrower agree not to effect or permit any
change referred to in the preceding sentence unless all filings, recordings or registrations have
been made under the Uniform Commercial Code or otherwise that are required in order for the
Collateral Agent to continue at all times following such change to have a valid, legal and
perfected security interest in all the Collateral. Parent Holdings and the Borrower also agree
promptly to notify the Administrative Agent if any material portion of the Collateral is damaged or
destroyed.

(b) In the case of the Borrower, each year, at the time of delivery of the annual financial
statements with respect to the preceding fiscal year pursuant to Section 5.04(b), deliver
to the Administrative Agent a certificate of a Financial Officer setting forth the information
required pursuant to Section 2 of the Perfection Certificate or confirming that there has been no
change in such information since the date of the Perfection Certificate delivered on the Closing
Date or the date of the most recent certificate delivered pursuant to this Section 5.06.

SECTION 5.07. Maintaining Records; Access to Properties and Inspections; Maintenance of
Ratings. (a) Keep proper books of record and account in which full, true and correct entries in
conformity with GAAP and all requirements of law are made of all dealings and transactions in
relation to its business and activities. Each Loan Party will, and will cause each of its
subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender to
visit and inspect the financial records and the properties of such Person at reasonable times and
as often as reasonably requested and to make extracts from and copies of such financial records,
and permit any representatives designated by the Administrative Agent or any Lender to discuss the
affairs, finances and condition of such Person with the officers thereof and independent
accountants therefor.

(b) In the case of the Borrower, use commercially reasonable efforts to cause the Credit
Facility to be continuously rated by S&P and Moody’s, and in the case of the Borrower, use
commercially reasonable efforts to maintain a corporate rating from S&P and a corporate family
rating from Moody’s, in each case in respect of the Borrower.

SECTION 5.08. Use of Proceeds. Use the proceeds of the Loans and Incremental Loans only for
the purposes specified in Section 3.13.

SECTION 5.09. Employee Benefits. (a) Comply in all material respects with the applicable
provisions of ERISA and the Code and the laws applicable to any Foreign Pension Plan and (b)
furnish to the Administrative Agent as soon as possible after, and in any event within ten days
after any Responsible Officer of Parent Holdings, the Borrower or any ERISA Affiliate knows or has
reason to know that, any ERISA Event has occurred that, alone or together with any other ERISA
Event could reasonably be expected to result in liability of Parent Holdings, the Borrower or any
ERISA Affiliate in an aggregate amount exceeding $2,500,000, a statement of a Financial Officer of
Parent Holdings or the Borrower setting forth details as to such ERISA Event and the action, if
any, that Parent Holdings or the Borrower proposes to take with respect thereto.

 

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SECTION 5.10. Compliance with Environmental Laws. Comply, and cause all lessees and other
Persons occupying its properties to comply, in all material respects, with all Environmental Laws
applicable to its operations and properties; obtain, renew and comply with all terms and
conditions of all material environmental permits necessary for its operations and properties; and
as promptly as commercially reasonable, including with respect to any current or former operations
or properties, address and resolve any actual or threatened Environmental Liability, including by
conducting remedial action, in accordance with Environmental Laws; provided, however, that none of
Parent Holdings, the Borrower or any Subsidiary shall be required to undertake any remedial action
required by Environmental Laws to the extent that its obligation to do so is being contested in
good faith and by proper proceedings and appropriate reserves are being maintained with respect to
such circumstances in accordance with GAAP.

SECTION 5.11. Preparation of Environmental Reports. Promptly notify the Administrative Agent
in writing of a Default caused by reason of a breach of Section 3.17 or Section
5.10 and share with Administrative Agent all data, information and reports generated or
prepared in connection therewith. If a Default caused by reason of a breach of Section
3.17 or Section 5.10 shall have occurred and be continuing for more than 20 days
without Parent Holdings, the Borrower or any Subsidiary commencing activities reasonably likely to
cure such Default, at the written request of the Administrative Agent, (a) provide to the Lenders
within 45 days after such request, at the expense of the Loan Parties, an environmental site
assessment report, including where appropriate, any soil and or groundwater sampling, regarding the
matters which are the subject of such Default prepared by an environmental consulting firm
reasonably acceptable to the Administrative Agent and indicating compliance or non-compliance with
Environmental Law, the presence or absence of Hazardous Materials, proposed compliance or remedial
action for responding to any environmental concerns described therein and the estimated cost of any
such compliance or remedial action and (b) promptly undertake such proposed compliance or remedial
action.

SECTION 5.12. Further Assurances. Execute any and all further documents, financing
statements, agreements and instruments, and take all further action (including filing Uniform
Commercial Code and other financing statements, mortgages and deeds of trust) that may be required
under applicable law, or that the Administrative Agent or the Collateral Agent may reasonably
request, in order to effectuate the transactions contemplated by the Loan Documents and in order to
grant, preserve, protect and perfect the validity and first priority of the security interests
created or intended to be created by the Security Documents. Parent Holdings will cause any
subsequently acquired or organized Domestic Subsidiary (and, to the extent no adverse tax
consequences to Parent Holdings or the Borrower could result therefrom, Foreign Subsidiary) (but,
in each case, excluding any Excluded Subsidiary) to become a Loan Party by executing the Guarantee
and Collateral Agreement and each applicable Security Document in favor of the Collateral Agent. In
addition, from time to time, Parent Holdings and the Borrower will, at Borrower’s cost and expense,
promptly secure the Obligations by pledging or creating, or causing to be pledged or created,
perfected security interests with respect to such of its assets and properties as the
Administrative Agent shall designate (it being understood that it is the intent of the parties that
the Obligations shall be secured by substantially all the assets of the Loan Parties including real
and other properties acquired subsequent to the Closing Date, but excluding (i) leased real
properties, (ii) real property owned by Rentech Energy Technology Center, LLC and (iii) to the
extent provided in the Guarantee and Collateral Agreement, Equity Interests in any Project Entity
and Controlled Foreign Corporation (as defined in the Guarantee and Collateral Agreement)). Such
security interests and Liens will be created under the Security Documents and other security
agreements, mortgages, deeds of trust and other instruments and documents (x) substantially in the
form of such mortgages, deeds of trust and other instruments and documents delivered on the Closing
Date (with such conforming changes as are required under applicable state or local law), or (y) if
no such instruments or documents were delivered on the Closing Date, substantially consistent with
those mortgages, deeds of trust and other instruments that were delivered on the Closing Date, and
Parent Holdings and the Borrower shall deliver or cause to be delivered to the Lenders all such
instruments and documents (including legal opinions, title insurance policies and lien searches) as
the Collateral Agent shall reasonably request to evidence compliance with this Section
5.12. Parent Holdings and the Borrower agree to provide such evidence as the Collateral
Agent shall reasonably request as to the perfection and priority status of each such security
interest and Lien. In furtherance of the foregoing, the Borrower will give prompt notice to the
Administrative Agent of the acquisition by it or any Guarantor of any real property (or any
interest in real property) having a value in excess of $1,000,000.

 

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SECTION 5.13. Cash Management. In supplement to Section 4.04(b) in the Guarantee and
Collateral Agreement, without the prior written consent of the Collateral Agent, the Borrower will
not, and will not cause or permit any Loan Party to, (a) add or replace a depositary bank or
Deposit Account (as such term is defined in the Guarantee and Collateral Agreement), (b) allow any
deposit account or any “zero balance checking” accounts, other than Deposit Accounts subject to
Deposit Account Control Agreements and accounts that are maintained solely for employee flex
spending amounts and payroll amounts, to maintain a balance in excess of zero Dollars for a period
in excess of one Business Day or (c) change any sweep instructions existing as of the Closing Date
for any bank account, including any Deposit Account, except in each case, a Deposit Account that is
subject to a Lien permitted by Section 6.02(m). Notwithstanding the foregoing, each of the
Borrower and Parent Holdings may, within 60 days following the date hereof (or such later date as
the Collateral Agent may agree to in its sole discretion), (i) replace US Bank with Citibank, N.A.
or an Affiliate thereof reasonably satisfactory to the Administrative Agent (collectively, “Citi”)
as the depositary bank with respect to each of their respective Deposit Accounts, and (ii) replace
their respective Deposit Accounts held at US Bank with new Deposit Accounts to be opened and held
at Citi (the “Citi Deposit Accounts”) (clauses (i) and (ii), collectively, the “Citi Account
Transactions”); provided that, prior to effecting any of the Citi Account Transactions (A) the
Collateral Agent shall have received copies of a deposit account control agreement for each Citi
Deposit Account (the “Citi Control Agreements”), duly executed and delivered by Citi, as depository
bank, the Collateral Agent, and the Borrower or Parent Holdings, as the case may be, and the
Collateral Agent shall be satisfied in its reasonable discretion with the Citi Control Agreements,
and (B) the Collateral Agent (for the benefit of the Secured Parties) shall have a perfected first
priority security interest in each of the Citi Deposit Accounts, in each case perfected by
“control” (within the meaning of the Uniform Commercial Code) pursuant to Section 4.04(b) of the
Guarantee and Collateral Agreement, subject, as to priority, only to Liens expressly permitted by
the Loan Documents. Upon the written request of the Borrower and at the sole cost and expense of
the Borrower, Lenders hereby authorize and instruct the Collateral Agent to, and the Collateral
Agent shall, release promptly any security interest held by it in any Deposit Account or securities
account that is subject to a Lien permitted by Section 6.02(m). Any such release shall be
without recourse to, or representation or warranty by, the Collateral Agent or any other Secured
Party.

SECTION 5.14. Senior Indebtedness. If any Loan Party incurs, creates, assumes or permits to
exist any Indebtedness that is subordinated in right of payment to the Obligations (or any portion
thereof), the Obligations shall constitute “Senior Debt” and “Designated Senior Debt” (or the
equivalents thereof) under and as defined in the definitive documentation governing or evidencing
such subordinated Indebtedness.

 

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ARTICLE VI

Negative Covenants

Each of Parent Holdings and the Borrower covenants and agrees with each Lender that, so long
as this Agreement shall remain in effect and until the principal of and interest on each Loan, all
Fees and all other expenses or amounts payable under any Loan Document have been paid in full,
unless the Required Lenders shall otherwise consent in writing, neither Parent Holdings nor the
Borrower will, nor will they cause or permit any of the Subsidiaries (other than Excluded
Subsidiaries) to:

SECTION 6.01. Indebtedness. Incur, create, assume or permit to exist any Indebtedness,
except:

(a) Indebtedness existing on the Closing Date and set forth in Schedule 6.01
and any extensions, refinancings, renewals or replacements of such Indebtedness to the
extent (i) the principal amount of such Indebtedness is not increased (other than by the
amount of premiums and reasonable and customary fees paid in connection therewith), (ii)
neither the final maturity nor the weighted average life to maturity of such Indebtedness is
decreased, (iii) such Indebtedness, if subordinated to the Obligations, remains so
subordinated on terms no less favorable to the Lenders and satisfies the requirements of
Section 5.14, (iv) all of the continuing obligors in respect of such Indebtedness
were obligors prior to the Closing Date, and (v) in the case of any extension, refinancing,
renewal or replacement of convertible Indebtedness of Parent Holdings, such Indebtedness (A)
does not provide for any scheduled amortization, other scheduled payments of principal or
mandatory prepayment, repurchase or redemption requirements (other than mandatory
prepayment, repurchase or redemption requirements triggered (x) if such Indebtedness
consists of convertible Indebtedness of Parent Holdings, upon the occurrence of a “change of
control,” or (y) if such Indebtedness consists of Indebtedness of Parent Holdings that
satisfies the criteria specified in clauses (i) through (iv) of Section 6.01(o),
upon the occurrence of a “change of control” or an “asset sale”) that apply prior to the
date that is one year and one day following the Final Maturity Date, and (B) shall consist
of either (x) convertible Indebtedness of Parent Holdings that is convertible only into
Equity Interests of Parent Holdings or (y) Indebtedness of Parent Holdings that satisfies
each of the criteria specified in clauses (i) through (iv) of Section 6.01(o);

(b) Indebtedness created hereunder and under the other Loan Documents;

(c) intercompany Indebtedness to the extent permitted by Section 6.04(c);

(d) Indebtedness incurred to finance the acquisition, construction or improvement of
any fixed or capital assets, and extensions, renewals and replacements of any such
Indebtedness that do not increase the outstanding principal amount thereof; provided that
(i) such Indebtedness is incurred prior to or within 180 days after such acquisition or the
completion of such construction or improvement, and (ii) the aggregate principal amount of
Indebtedness permitted by this Section 6.01(d), when combined with the aggregate
principal amount of all Capital Lease Obligations incurred pursuant to Section
6.01(e), shall not exceed $4,000,000 at any time outstanding; provided that the
aggregate principal amount of Indebtedness incurred by the Borrower and its subsidiaries
pursuant to this Section 6.01(d) shall not exceed $2,000,000 at any time
outstanding;

(e) Capital Lease Obligations in an aggregate principal amount, when combined with the
aggregate principal amount of all Indebtedness incurred pursuant to Section 6.01(d),
not in excess of $4,000,000 at any time outstanding; provided that the aggregate principal
amount of Indebtedness of the Borrower and its subsidiaries pursuant to this Section
6.01(e) shall not exceed $2,000,000 at any time outstanding;

 

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(f) Indebtedness under performance bonds or with respect to workers’ compensation
claims, in each case incurred in the ordinary course of business;

(g) Indebtedness of any Person that becomes a Subsidiary Guarantor after the date
hereof; provided that (i) such Indebtedness exists at the time such Person becomes a
Subsidiary and is not created in contemplation of or in connection with such Person becoming
a Subsidiary,
(ii) immediately before and after such Person becomes a Subsidiary, no Default or Event
of Default shall have occurred and be continuing and (iii) the aggregate principal amount of
Indebtedness permitted by this Section 6.01(g) shall not exceed $1,500,000 at any
time outstanding;

(h) other Indebtedness in an aggregate principal amount not exceeding $4,000,000 at any
time outstanding (of which an aggregate principal amount thereof not in excess of $500,000
at any time outstanding may be secured Indebtedness); provided that the aggregate principal
amount of Indebtedness of the Borrower and its subsidiaries pursuant to this Section
6.01(h) shall (i) not exceed $1,000,000 at any time outstanding and (ii) be unsecured;

(i) (A) Indebtedness of the Borrower incurred under Hedging Agreements or forward
purchase contracts with respect to natural gas to be delivered to the Borrower for use in
ordinary course production within 60 days from the effective date of the applicable Hedging
Agreements or forward purchase contracts; and (B) Indebtedness in an amount not exceeding
the greater of clause (x) or (y): (x) Hedging Agreements or forward purchase contracts with
respect to production to match prepaid sales of fertilizer products and (y) Hedging
Agreements or forward purchase contracts in value of up to $20,000,000 in the aggregate at
any time outstanding for all such Hedging Agreements and forward purchase contracts with
respect to volumes to satisfy up to 67% of maximum production capacity for a 4-month period
and with respect to the delivery of natural gas to the Borrower within the following 7-month
period, in each case incurred by the Borrower in the ordinary course;

(j) unsecured convertible Indebtedness issued by Parent Holdings from time to time
(other than any such Indebtedness that is convertible, directly or indirectly, into
Disqualified Stock); provided that (i) the aggregate principal amount of such Indebtedness
on the date of issuance thereof, plus the aggregate principal amount of Indebtedness issued
by Parent Holdings pursuant to Section 6.01(o), does not exceed an amount equal to
25.0% of Parent Holdings’ Market Capitalization determined on the date that is 30 days prior
to the issuance thereof; (ii) all such convertible Indebtedness shall be convertible into
Equity Interests of Parent Holdings only and (iii) such convertible Indebtedness does not
provide for any scheduled amortization, other scheduled payments of principal or mandatory
prepayment, repurchase or redemption requirements (other than mandatory prepayment,
repurchase or redemption requirements triggered upon the occurrence of a “change of
control”) that apply prior to the day that is one year and one day following the Final
Maturity Date;

(k) unsecured Indebtedness pursuant to clause (j) of the definition of “Indebtedness”
arising under unsecured Hedging Agreements that are not speculative in nature and are
related to (x) interest rate protection arrangements or (y) income derived from foreign
operations of Parent Holdings, the Borrower or any Subsidiary Guarantor or otherwise related
to purchases from foreign suppliers; provided that to the extent such Indebtedness
constitutes “Obligations” under and as defined in clause (d) of the definition of
“Obligations” in the Guarantee and Collateral Agreement, such Indebtedness may be secured to
the extent provided therein;

 

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(l) Indebtedness in respect of loans from a Governmental Authority in connection with
economic development or incentive or alternative energy programs in an aggregate principal
amount not in excess of $5,000,000 at any time outstanding; provided that the aggregate
principal amount of Indebtedness of the Borrower and its subsidiaries pursuant to this
Section 6.01(l) shall not exceed $2,500,000 at any time outstanding;

(m) [Reserved];

(n) unsecured Indebtedness in respect of obligations of Parent Holdings to purchase,
redeem, retire, defease or otherwise make any payment in respect of any Equity Interests
(other than Disqualified Stock) of Parent Holdings or any warrants, rights or options to
acquire such Equity Interests;

(o) unsecured Indebtedness of Parent Holdings in an aggregate principal amount not in
excess of $10,000,000 that (i) is subordinated to the Obligations on terms customary at the
time for subordinated mezzanine debt securities, (ii) matures after, and does not provide
for any scheduled amortization, other scheduled payments of principal or mandatory
prepayment, repurchase or redemption requirements (other than mandatory prepayment,
repurchase or redemption requirements triggered upon the occurrence of a “change of control”
or an “asset sale”) that apply, prior to the day that is one year and one day following the
Final Maturity Date, (iii) has terms and conditions (other than subordination terms), taken
as a whole, that are not materially less favorable to Parent Holdings than the terms and
conditions customary at the time for subordinated mezzanine debt securities, and (iv) has
interest rate terms on then prevailing-market terms for subordinated mezzanine debt
securities;

(p) Indebtedness in respect of letters of credit issued to third parties not Affiliated
with Parent Holdings in an aggregate principal amount not exceeding $5,000,000 at any time
outstanding less any amounts secured by Liens permitted by Section 6.02(m); provided
that the aggregate principal amount of Indebtedness of the Borrower and its subsidiaries
pursuant to this Section 6.01(p) shall not exceed $2,500,000 at any time
outstanding; and

(q) Indebtedness of the Borrower incurred under clause (j) of the definition of
“Indebtedness” in the ordinary course under Hedging Agreements or forward purchase contracts
with respect to carbon credits to be delivered to a third party within five years of the
effective date of the applicable Hedging Agreements or forward purchase contracts in a total
dollar amount not to exceed $5,000,000 in the aggregate at any time outstanding for all such
Hedging Agreements and forward purchase contracts.

SECTION 6.02. Liens. Create, incur, assume or permit to exist any Lien on any property or
assets (including Equity Interests or other securities of any Person, including the Borrower or any
Subsidiary (other than Project Entities)) now owned or hereafter acquired by it or on any income or
revenues or rights in respect of any thereof, except:

(a) Liens on property or assets existing on the Closing Date and set forth in
Schedule 6.02; provided that such Liens shall (i) secure only those obligations
which they secure on the date hereof and extensions, refinancings, renewals and replacements
thereof permitted hereunder, and (ii) not encumber any property other than the property
subject thereto on the Closing Date;

 

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(b) any Lien created under the Loan Documents;

(c) any Lien existing on any property or asset prior to the acquisition thereof or
existing on any property or assets of any Person that becomes a Subsidiary after the date
hereof prior to the time such Person becomes a Subsidiary, as the case may be; provided that
(i) such Lien is not created in contemplation of or in connection with such acquisition or
such Person becoming a Subsidiary, (ii) such Lien does not apply to any other property or
assets of any Loan Party and (iii) such Lien secures only those obligations which it secures
on the date of such acquisition or the date such Person becomes a Subsidiary, as the case
may be;

(d) Liens for Taxes not yet delinquent or which are being contested in compliance with
Section 5.03;

(e) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like
Liens arising in the ordinary course of business and securing obligations that are not due
and payable or which are being contested in compliance with Section 5.03;

(f) pledges and deposits made in the ordinary course of business in compliance with
workmen’s compensation, unemployment insurance and other social security laws or
regulations;

(g) deposits to secure the performance of bids, trade contracts (other than for
Indebtedness), leases (other than Capital Lease Obligations), statutory obligations, surety
and appeal bonds, performance bonds and other obligations of a like nature incurred in the
ordinary course of business;

(h) zoning restrictions, easements, rights-of-way, restrictions on use of real property
and other similar encumbrances incurred in the ordinary course of business which, in the
aggregate, are not substantial in amount and do not materially detract from the value of the
property subject thereto or interfere with the ordinary conduct of the business of Parent
Holdings, the Borrower or any Subsidiaries;

(i) purchase money security interests in real property, improvements thereto or
equipment hereafter acquired (or, in the case of improvements, constructed); provided that
(i) such security interests secure Indebtedness permitted by Section 6.01(d), (ii)
such security interests are incurred, and the Indebtedness secured thereby is created,
within 90 days after such acquisition (or construction), (iii) the Indebtedness secured
thereby does not exceed the lesser of the cost or the fair market value of such real
property, improvements or equipment at the time of such acquisition (or construction) and
(iv) such security interests do not apply to any other property or assets of any Loan Party;

(j) judgment Liens securing judgments not constituting an Event of Default under clause
(i) of Article VII;

(k) (i) Liens existing on equipment that (A) is leased to, or owned by, the Borrower;
(B) is located on property owned by the Borrower; (C) has been leased or purchased by the
Borrower for the purpose of reducing regulated or greenhouse gas emissions or for the
purpose of, or having the effect of, reducing carbon emissions and/or generating carbon
credits or similar allowances and (D) has been financed by a third party that is not an
Affiliate of Parent Holdings, Borrower or the Subsidiaries, and (ii) Liens securing
Indebtedness incurred in accordance with Section 6.01(q); provided that the fair
market value of all such equipment, together with the total dollar amount of the
Indebtedness incurred under Section 6.01(q), shall not exceed $5,000,000 in the
aggregate;

 

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(l) other Liens securing liabilities hereunder in an aggregate amount not to exceed
$2,000,000 at any time outstanding (or, in the case of the Borrower and its subsidiaries,
$1,000,000 at any time outstanding); provided that any secured Indebtedness incurred by the
Loan Parties in reliance on Section 6.01(h) shall be deemed to reduce
dollar-for-dollar the amount of the liabilities permitted to be secured by Liens under this
Section 6.02(l) by the amount of such secured Indebtedness; and

(m) in lieu of issuing letters of credit under Section 6.01(p) or to support
reimbursement obligations in respect of letters of credit issued under Section
6.01(p), Liens on cash and Permitted Investments (and any dedicated Deposit Account and
securities account in which only such cash and Permitted Investments are held) to secure,
directly or indirectly, obligations to third parties not Affiliated with Parent Holdings in
an aggregate principal amount not to exceed $5,000,000 at any time outstanding (or, in the
case of the Borrower and its subsidiaries, $2,500,000 at any time outstanding) less any
Indebtedness incurred under, and permitted by, Section 6.01(p).

SECTION 6.03. Sale and Lease-Back Transactions. Enter into any arrangement, directly or
indirectly, with any Person whereby it shall sell or transfer any property, real or personal, used
or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease
such property or other property which it intends to use for substantially the same purpose or
purposes as the property being sold or transferred (a “Sale and Lease-Back Transaction”) unless (a)
the sale or transfer of such property is permitted by Section 6.05 (assuming, for purposes
of this Section 6.03, that such sale or transfer is an Asset Sale under Section
6.05(b)), (b) any Capital Lease Obligations and, without duplication, Attributable Indebtedness
(assuming, for purposes of this Section 6.03, that Attributable Indebtedness is
Indebtedness under Section 6.01) arising in connection therewith are permitted by
Section 6.01, (c) any Liens arising in connection therewith are permitted by Section
6.02, and (d) the Attributable Indebtedness arising in connection therewith does not exceed
$1,000,000 at any time outstanding.

SECTION 6.04. Investments, Loans and Advances. Purchase, hold or acquire any Equity
Interests, evidences of indebtedness or other securities of, make or permit to exist any loans or
advances to, or make or permit to exist any investment or any other interest in, any other Person,
or purchase carbon credits or similar allowances from any other Person (collectively,
“Investments”), except:

(a) (i) (A) Investments by Parent Holdings, the Borrower and any Subsidiary existing on the
Closing Date in the Equity Interests (other than Disqualified Stock) of the Borrower and the
Subsidiaries, (B) additional Investments (including by way of capital contribution) by Parent
Holdings or any Subsidiary Guarantor that is not a subsidiary of the Borrower in the Equity
Interests (other than Disqualified Stock) of the Borrower and any other Subsidiary Guarantor and
(C) Investments (including by way of capital contribution) by the Borrower in the Equity Interests
(other than Disqualified Stock) of any Subsidiary Guarantor that is a subsidiary of the Borrower;
provided that (1) any Equity Interests held by a Loan Party shall be pledged pursuant to the
Guarantee and Collateral Agreement (subject to any limitations applicable to the pledging of Equity
Interests referred to therein), and (2) no Investment may be made by the Borrower in any Subsidiary
unless the Borrower shall maintain the Minimum Liquidity Threshold after giving effect to such
Investment;

(ii) additional Investments (including by way of capital contribution) by the Borrower
and any Subsidiary Guarantor in the Equity Interests (other than Disqualified Stock) of
Subsidiaries that are not Loan Parties; provided that (1) any such Equity Interests held by
a Loan Party shall be pledged pursuant to the Guarantee and Collateral Agreement (subject to
any limitations applicable to the pledging of Equity Interests referred to therein), (2) the
aggregate amount of Investments made by Subsidiary Guarantors (other than the Borrower and
its subsidiaries) pursuant to this Section 6.04(a)(ii) shall not in the aggregate
exceed $1,000,000 at any time outstanding, (3) the aggregate amount of Investments made by
the Borrower and its subsidiaries pursuant to this Section 6.04(a)(ii) shall not in
the aggregate exceed $500,000 at any time outstanding, and (4) no Investment may be made by
the Borrower in any Subsidiary unless the Borrower shall maintain the Minimum Liquidity
Threshold after giving effect to such Investment;

 

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(iii) additional Investments by Parent Holdings, the Borrower and any Subsidiary
Guarantor so long as the aggregate amount invested, loaned or advanced pursuant to this
clause (a)(iii) (determined without regard to any write-downs or write-offs of such
Investments, loans and advances) does not exceed, in the aggregate, (x) (A) in the case of
Investments by the Loan Parties (other than the Borrower and its subsidiaries), $2,500,000
in the aggregate, or (B) in the case of Investments by the Borrower and its subsidiaries,
$500,000 in the aggregate, plus (y) any return of capital paid to the applicable investor
hereunder on any Investment previously made pursuant to this clause (a)(iii) and not
concurrently or otherwise utilized or distributed by such investor; provided that no
Investments may be made by the Borrower or any Subsidiary in Parent Holdings pursuant to
this Section 6.04(a)(iii); provided further that any Investments made pursuant to
this Section 6.04(a)(iii) that consist of the acquisition of an Acquired Entity
shall satisfy the requirements of the proviso to Section 6.04(a)(iv) (other than
clause (z)(C) thereof);

(iv) Parent Holdings, the Borrower or any Subsidiary Guarantor may acquire all or
substantially all the assets of a Person or line of business of such Person, or not less
than 100% of the Equity Interests (other than directors’ qualifying shares) of a Person
(referred to herein as the “Acquired Entity”); provided that:

(x) such acquisition was not preceded by an unsolicited tender offer for such
Equity Interests by, or proxy contest initiated by, Parent Holdings, the Borrower or
any Subsidiary;

(y) the Acquired Entity shall be in a similar line of business as that of the
Borrower and the Subsidiary Guarantors as conducted during the current and most
recent calendar year; and

(z) at the time of such transaction (A) both before and after giving effect
thereto, no Default or Event of Default shall have occurred and be continuing; (B)
the Borrower would be in compliance with the covenants set forth in (x) Section
6.17 and (y) Sections 6.10, 6.11 and 6.12 as of the most
recently completed period of four consecutive fiscal quarters ending prior to such
transaction for which the financial statements and certificates required by
Section 5.04(a) through (d), as the case may be, and 5.04(g)
have been delivered or for which comparable financial statements have been filed
with the Securities and Exchange Commission, after giving pro forma effect to such
transaction (including any other transaction described in this Section
6.04(a)(iv) occurring after such period) as if such transaction had occurred as
of the first day of such period; (C) the total consideration (excluding
consideration consisting of the issuance by Parent Holdings of Equity Interests
(other than Disqualified Stock) in Parent Holdings or the proceeds thereof and not
concurrently or otherwise utilized or distributed by Parent Holdings) paid in
connection with such acquisition and any other acquisitions pursuant to this
Section 6.04(a)(iv) (including any Indebtedness of the Acquired Entity that
is assumed by Parent Holdings, the Borrower, or any Subsidiary Guarantor following
such acquisition and any payments following such acquisition pursuant to earn-out
provisions or similar obligations) shall not in the aggregate exceed (i) in the case
of Permitted Acquisitions made by the Borrower or any subsidiary of the Borrower
that is a Subsidiary Guarantor, $500,000 in the aggregate, or (ii) in the case of
Permitted Acquisitions made by Parent Holdings or any Subsidiary Guarantor that is
not a subsidiary of the Borrower, $2,000,000 in the aggregate; (D) Parent Holdings
or the Borrower shall have delivered a certificate of a Financial Officer,
certifying as to the foregoing and containing reasonably detailed calculations in
support thereof, in form and substance satisfactory to the Administrative Agent; and
(E) Parent Holdings or the Borrower shall comply, and shall
cause the Acquired Entity to comply, with the applicable provisions of Section
5.12 and the Security Documents (any acquisition of an Acquired Entity meeting
all the criteria of this Section 6.04(a)(iv) being referred to herein as a
“Permitted Acquisition”);

 

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(b) Permitted Investments;

(c) (i) loans or advances made by any Loan Party to Parent Holdings in an aggregate principal
amount not to exceed $500,000 at any time outstanding, (ii) loans or advances made by the Borrower
to any Subsidiary Guarantor or by the Borrower or a Subsidiary Guarantor to a Subsidiary Guarantor
and (iii) loans or advances made by Borrower to Parent Holdings in an aggregate principal amount
not to exceed the Permitted Amount at any time outstanding; provided that, in the case of each of
clauses (i) through (iii) above, (A) any such loans and advances made by a Loan Party shall be
evidenced by a promissory note that is an “instrument” (as defined under Article 9 of the Uniform
Commercial Code) pledged to the Collateral Agent for the ratable benefit of the Secured Parties
pursuant to the Guarantee and Collateral Agreement, (B) such loans and advances shall be unsecured
and subordinated to the Obligations, if any, of the obligor, which subordination language shall be
in form and substance satisfactory to the Administrative Agent in its sole discretion, and (C) no
such loan or advance may be made by the Borrower to Parent Holdings or any Subsidiary unless the
Borrower shall maintain the Minimum Liquidity Threshold after giving effect to such loan or
advance;

(d) Investments received in connection with the bankruptcy or reorganization of, or settlement
of delinquent accounts and disputes with, customers and suppliers, in each case in the ordinary
course of business;

(e) any Loan Party may make loans and advances in the ordinary course of business to their
respective employees so long as the aggregate principal amount thereof at any time outstanding
(determined without regard to any write-downs or write-offs of such loans and advances) shall not
exceed $100,000 for all Loan Parties;

(f) any Loan Party may enter into Hedging Agreements that are not speculative in nature and
are related to income derived from foreign operations of such Loan Party or otherwise related to
purchases from foreign suppliers;

(g) any Loan Party may make or own Investments consisting of any non-cash proceeds received in
compliance with Section 6.05(b) by such Loan Party in connection with Asset Sales permitted
under Section 6.05(b);

(h) Investments (x) made with the proceeds of issuances of Equity Interests in Parent Holdings
(other than Disqualified Stock) by Parent Holdings, and (y) the consideration for which consists of
the issuance by Parent Holdings of Equity Interests (other than Disqualified Stock) in Parent
Holdings;

 

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(i) Investments existing on the date hereof and set forth on Schedule 6.04(i);

(j) Investments by Parent Holdings in any Project Holdco and Investments by Parent Holdings in
Clearfuels Technology Inc., a Hawaiian corporation;

(k) [Reserved]; and

(l) the purchase by the Borrower of carbon credits and similar allowances in the ordinary
course of business and not for trading or speculative purposes; provided that such carbon credits
and allowances are used either (i) in the Borrower’s business or (ii) to cover any shortfall in
carbon credits and
similar allowances generated by the Borrower that the Borrower has agreed to deliver to a
third party pursuant to Hedging Agreements or forward purchase contracts permitted pursuant to
Section 6.01(q).

SECTION 6.05. Mergers, Consolidations, Sales of Assets and Acquisitions. (a) Merge into or
consolidate with any other Person, or permit any other Person to merge into or consolidate with it,
or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of
transactions), all or substantially all of the Plant, all or substantially all the assets (whether
now owned or hereafter acquired) of the Borrower or less than all the Equity Interests of any
Subsidiary Guarantor, or purchase, lease or otherwise acquire (in one transaction or a series of
transactions) all or any substantial part of the assets of any other Person, except that:

(i) Parent Holdings, the Borrower and any Subsidiary may purchase and sell inventory in
the ordinary course of business;

(ii) if at the time thereof and immediately after giving effect thereto no Event of
Default or Default shall have occurred and be continuing (x) any solvent Wholly Owned
Subsidiary of Parent Holdings (other than the Borrower) may merge into Parent Holdings or
the Borrower in a transaction in which Parent Holdings or the Borrower is the surviving
corporation, (y) any solvent Wholly Owned Subsidiary may merge into or consolidate with any
other solvent Wholly Owned Subsidiary in a transaction in which the surviving entity is a
Wholly Owned Subsidiary and no Person other than the Borrower or a Wholly Owned Subsidiary
receives any consideration (provided that if any party to any such transaction is (A) a Loan
Party, the surviving entity of such transaction shall be a Loan Party, and (B) the Borrower,
the surviving entity of such transaction shall be the Borrower) and (z) Parent Holdings, the
Borrower and the Subsidiary Guarantors may make Permitted Acquisitions; and

(iii) acquisitions (in one transaction or a series of transactions) of all or any
substantial part of the assets of any other Person made pursuant to Sections
6.04(a)(iii), 6.04(a)(iv) and 6.04(k).

(b) Make any Asset Sale not otherwise prohibited under paragraph (a) above unless (i) such
Asset Sale is made by Parent Holdings or its subsidiaries or the Borrower or its subsidiaries and
is for consideration (x) in the case of the Borrower or its subsidiaries, at least 85% of which is
cash and (y) in the case of Parent Holdings or its subsidiaries (other than the Borrower and its
subsidiaries), at least 75% of which is cash, (ii) such consideration is at least equal to the fair
market value of the assets being sold, transferred, or disposed of and (iii) the fair market value
of all assets sold, transferred, or disposed of pursuant to this paragraph (b) shall not exceed
$1,000,000 in any fiscal year.

 

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SECTION 6.06. Restricted Payments; Restrictive Agreements. (a) Declare or make, directly or
indirectly, any Restricted Payment (including pursuant to any Synthetic Purchase Agreement);
provided, however, that:

(i) any Wholly Owned Subsidiary of any Subsidiary may declare and pay dividends or make
other distributions ratably to its equity holders;

(ii) so long as no Default or Event of Default shall have occurred and be continuing or
would result therefrom, the Borrower may, or the Borrower and the Subsidiaries may make
distributions to Parent Holdings so that Parent Holdings may, repurchase its Equity
Interests owned by employees of Parent Holdings, the Borrower or the Subsidiaries or make
payments to employees of Parent Holdings, the Borrower or the Subsidiaries upon termination
of employment in connection with the exercise of stock options, stock appreciation rights or
similar equity
incentives or equity based incentives pursuant to management incentive plans or in
connection with the death or disability of such employees in an aggregate amount not to
exceed $250,000 in any fiscal year;

(iii) so long as no Default or Event of Default shall have occurred and be continuing
or would result therefrom, the Borrower and its subsidiaries may make cash Restricted
Payments to Parent Holdings (y) in an amount not to exceed $250,000 in any fiscal year, to
the extent necessary to pay general corporate and overhead expenses incurred by Parent
Holdings in the ordinary course of business, and (z) in an amount necessary to pay the Tax
liabilities of Parent Holdings directly attributable to (or arising as a result of) the
operations of the Borrower and its subsidiaries; provided, however, that, with respect to
clauses (y) and (z), (A) the amount of such dividends pursuant to clause (z) shall not
exceed the amount that the Borrower and its subsidiaries would be required to pay in respect
of Federal, State, local and foreign Taxes were the Borrower and its subsidiaries to pay
such Taxes as stand-alone taxpayers and (B) all Restricted Payments made to Parent Holdings
pursuant to this clause (iii) are used by Parent Holdings, solely for the purposes specified
herein;

(iv) so long as no Event of Default or Default shall have occurred and be continuing or
would result therefrom, the Borrower may pay the fees and expenses payable under the
Management Agreement (as in effect on the Closing Date) in an aggregate amount not to exceed
$2,500,000 on an annual basis; provided that (x) such fees and expenses may be paid in cash
only if (A) the aggregate principal amount of Loans then outstanding is equal to or less
than $140,000,000, (B) the Leverage Ratio is less than 1.25 to 1.00, in each case both prior
to and after giving pro forma effect to any such payment, and (C) the Borrower is otherwise
in pro forma compliance with each of Sections 6.10, 6.11, 6.12 and
6.17, and (y) if each of the tests set forth in foregoing clause (x) is not
satisfied, such fees and expenses may be payable only by a non-cash transfer of intercompany
receivables from the Borrower to Parent Holdings in lieu of such cash payments;

(v) the Borrower may pay cash dividends to RDC, for further distribution to Parent
Holdings, from then-available Available Cash (for the avoidance of doubt, after giving
effect to any prior or concurrent utilization of Available Cash in accordance with the
definition thereof) so long as (x) no Event of Default or Default shall have occurred and be
continuing or would result therefrom, (y) the Leverage Ratio is less than 2.00 to 1.00, in
each case both prior to and after giving pro forma effect to any such dividend, and (z) the
Borrower is otherwise in pro forma compliance with each of Sections 6.10,
6.11, 6.12 and 6.17;

 

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(vi) Parent Holdings may, upon conversion of any convertible Indebtedness of Parent
Holdings permitted under Section 6.01(a), make cash payments in lieu of issuance of
fractional Equity Interests in respect thereof;

(vii) [Reserved];

(viii) Parent Holdings may make Restricted Payments with common stock of Parent
Holdings and Qualified Capital Stock of Parent Holdings; and

(ix) on the Closing Date, the Closing Date Dividend may be paid.

(b) Enter into, incur or permit to exist any agreement or other arrangement that prohibits,
restricts or imposes any condition upon the ability of (i) the ability of any Loan Party to create,
incur or permit to exist any Lien upon any of its property to secure the Obligations or any
Subsidiary to pay
dividends or other distributions to the Borrower with respect to any of its Equity Interests,
or to make or repay loans or advances to the Borrower or any Subsidiary Guarantor or to Guarantee
the Obligations; provided that (A) the foregoing shall not apply to restrictions and conditions
imposed by law or by any Loan Document, (B) the foregoing shall not apply to customary restrictions
and conditions contained in agreements relating to the sale of a Subsidiary pending such sale,
provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such
sale is permitted hereunder, (C) the foregoing shall not apply to restrictions and conditions
imposed on any Foreign Subsidiary by the terms of any Indebtedness of such Foreign Subsidiary
permitted to be incurred hereunder, (D) the foregoing shall not apply to restrictions and
conditions imposed on the ability of any Loan Party to create, incur or permit to exist any Lien on
any carbon credits or similar allowances of such Loan Party by any agreement with a third party
that is not an Affiliate of Parent Holdings, Borrower or the Subsidiaries, (E) clause (i) of the
foregoing shall not apply to restrictions or conditions imposed by any agreement relating to
secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to
the property or assets securing such Indebtedness and (F) clause (i) of the foregoing shall not
apply to customary provisions in leases and other contracts restricting the assignment thereof.

SECTION 6.07. Transactions with Affiliates. Except for transactions between or among Loan
Parties (other than transactions between the Borrower and Parent Holdings, except to the extent
such transactions are otherwise expressly permitted under this Agreement) and the Management
Agreement (as in effect on the Closing Date or as amended, modified or supplemented as expressly
permitted by Section 6.16(i)), sell or transfer any property or assets to, or purchase or
acquire any property or assets from, or otherwise engage in any other transactions with, any of its
Affiliates, except that any Loan Party may engage in any of the foregoing transactions at prices
and on terms and conditions not less favorable to such Loan Party than could be obtained on an
arm’s-length basis from unrelated third parties.

SECTION 6.08. Business of Parent Holdings, the Borrower and Subsidiaries. Engage at any time
in any business or business activity other than the business currently conducted by it and business
activities reasonably incidental or related thereto.

SECTION 6.09. Other Indebtedness and Agreements. (a) Permit (i) any waiver, supplement,
modification, amendment, termination or release of any indenture, instrument or agreement pursuant
to which any Material Indebtedness is outstanding if the effect of such waiver, supplement,
modification, amendment, termination or release would materially increase the obligations of the
obligor or confer additional material rights on the holder of such Indebtedness in a manner adverse
to any Loan Party or the Lenders or (ii) any waiver, supplement, modification or amendment of its
certificate of incorporation, by-laws, operating, management or partnership agreement or other
organizational documents, to the extent any such waiver, supplement, modification or amendment
would be adverse to the Lenders in any material respect.

 

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(b) (i) Other than regular scheduled payments and mandatory payments of principal and
interest as and when due (to the extent not prohibited by applicable subordination provisions),
make any distribution, whether in cash, property, securities or a combination thereof, in respect
of, or pay, or commit to pay, or directly or indirectly (including pursuant to any Synthetic
Purchase Agreement) redeem, repurchase, retire or otherwise acquire for consideration, or set apart
any sum for the aforesaid purposes, any Subordinated Indebtedness except (A) intercompany
Indebtedness owing to any Loan Party and (B) the payment of secured Indebtedness permitted under
Section 6.01 that becomes due as a result of the voluntary sale or transfer of the property
or assets securing such Indebtedness so long as the Liens securing such Indebtedness are permitted
under Section 6.02 or (ii) pay in cash any amount in respect of any Material Indebtedness
or preferred Equity Interests that may at the obligor’s option be paid in kind or in other
securities, except as permitted by Section 6.06(a)(vi).

For the avoidance of doubt, this Section 6.09(b) does not restrict the conversion of
convertible Indebtedness of Parent Holdings permitted under Section 6.01 into Equity
Interests of Parent Holdings.

SECTION 6.10. Capital Expenditures. Permit the aggregate amount of Capital Expenditures made
by the Borrower and its subsidiaries for the period set forth below to exceed the amount set forth
in the table below opposite such period:

	 	 	 	 	 
	Measurement Period	 	Maximum Capital Expenditures	 
	 
	 	 	 	 
	Closing Date through September 30, 2012
	 	$30.0 million
	October 1, 2012 through September 30, 2013
	 	$10.0 million
	October 1, 2013 through September 30, 2014
	 	$10.0 million
	October 1, 2014 through September 30, 2015
	 	$8.0 million
	October 1, 2015 through Maturity Date
	 	$8.0 million

; provided, however, (i) in no event shall (x) the aggregate amount of Capital Expenditures made
by the Borrower and its subsidiaries for the period from June 1, 2011 through September 30, 2011
exceed $24.0 million, or (y) the Carry-Over Amount (as defined below) applied to the measurement
period from October 1, 2012 through September 30, 2013 exceed $9.0 million and (ii) in the event
the Borrower does not expend the maximum Capital Expenditures amount set forth in the table above
in any applicable measurement period, the Borrower may carry forward to the immediately succeeding
applicable measurement period the unutilized portion (the “Carry-Over Amount”). All Capital
Expenditures shall first be applied to reduce the then applicable maximum Capital Expenditures
amount and then to reduce the carry-forward from the previous applicable measurement period, if
any.

SECTION 6.11. Interest Coverage Ratio. Permit the Interest Coverage Ratio of the Borrower and
its subsidiaries for any period of four consecutive fiscal quarters, in each case taken as one
accounting period, as of the last day of any fiscal quarter ending on the date set forth below to
be less than the ratio set forth opposite such date below:

	 	 	 
	Date	 	Ratio
	 
	 	 
	June 30, 2011
	 	3.50 to 1.00
	September 30, 2011
	 	3.50 to 1.00
	December 31, 2011
	 	3.50 to 1.00
	March 31, 2012
	 	3.50 to 1.00
	June 30, 2012
	 	3.50 to 1.00
	September 30, 2012
	 	3.75 to 1.00
	December 31, 2012
	 	3.75 to 1.00
	March 31, 2013
	 	3.75 to 1.00
	June 30, 2013
	 	3.75 to 1.00

 

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	Date	 	Ratio
	 
	 	 
	September 30, 2013
	 	3.75 to 1.00
	December 31, 2013
	 	3.75 to 1.00
	March 31, 2014
	 	3.75 to 1.00
	June 30, 2014
	 	3.75 to 1.00
	September 30, 2014
	 	3.75 to 1.00
	December 31, 2014
	 	3.75 to 1.00
	March 31, 2015
	 	3.75 to 1.00
	June 30, 2015
	 	3.75 to 1.00
	September 30, 2015
	 	3.75 to 1.00
	December 31, 2015
	 	3.75 to 1.00
	March 31, 2016
	 	3.75 to 1.00

SECTION 6.12. Maximum Leverage Ratio. Permit the Leverage Ratio of the Borrower and its
subsidiaries as of the last day of the period of four consecutive fiscal quarters ending on the
date set forth below to be greater than the ratio set forth opposite such date below:

	 	 	 
	Date	 	Ratio
	 
	 	 
	June 30, 2011
	 	2.75 to 1.00
	September 30, 2011
	 	2.75 to 1.00
	December 31, 2011
	 	2.75 to 1.00
	March 31, 2012
	 	2.75 to 1.00
	June 30, 2012
	 	2.75 to 1.00
	September 30, 2012
	 	2.50 to 1.00
	December 31, 2012
	 	2.50 to 1.00
	March 31, 2013
	 	2.50 to 1.00
	June 30, 2013
	 	2.50 to 1.00
	September 30, 2013
	 	2.00 to 1.00
	December 31, 2013
	 	2.00 to 1.00
	March 31, 2014
	 	2.00 to 1.00
	June 30, 2014
	 	2.00 to 1.00
	September 30, 2014
	 	1.75 to 1.00
	December 31, 2014
	 	1.75 to 1.00
	March 31, 2015
	 	1.75 to 1.00
	June 30, 2015
	 	1.75 to 1.00
	September 30, 2015
	 	1.25 to 1.00
	December 31, 2015
	 	1.25 to 1.00
	March 31, 2016
	 	1.25 to 1.00

SECTION 6.13. Fiscal Year. With respect to Parent Holdings and the Borrower, change their
fiscal year-end to a date other than September 30.

 

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SECTION 6.14. Certain Equity Securities; Wholly Owned Subsidiaries. Issue any Equity Interest
that is not Qualified Capital Stock, or cause or permit any subsidiary of the Borrower not to be a
Wholly Owned Subsidiary of the Borrower.

SECTION 6.15. No Speculative Agreements. No Loan Party may enter into any Hedging Agreement
that is (i) speculative in nature or (ii) not consistent with prudent business practices.

SECTION 6.16. Modification of Management Agreement; Payment of Management Fees. Directly or
indirectly, (i) amend, modify or supplement, or agree to amend, modify or supplement, any provision
of the Management Agreement as such agreement was in effect on the Closing Date, other than any
amendment, modification or supplement that reduces the amount of the management fees payable
thereunder by the Borrower, or (ii) pay, agree to pay, or suffer to exist any agreement to pay, any
Management Fees, except, as and to the extent permitted under Section 6.06(a)(iv), for the
management fees payable to Parent Holdings by the Borrower pursuant to the Management Agreement, as
such agreement was in effect on the Closing Date or as amended, modified or supplement as expressly
permitted by Section 6.16(i).

SECTION 6.17. Minimum Liquidity Threshold. At all times after the Closing Date the Borrower
shall maintain an amount of Unrestricted Cash and Permitted Investments (minus the amount of
Investments received by the Borrower from Parent Holdings or any Subsidiary (other than a
subsidiary of the Borrower) within 90 days prior to the date of determination) on any day including
the Maturity Date of at least $7,500,000 (the “Minimum Liquidity Threshold”); provided however
that, solely during the months of January through and including March of any fiscal year, the
Minimum Liquidity Threshold for the Borrower shall be $5,000,000.

ARTICLE VII

Events of Default

In case of the happening of any of the following events (“Events of Default”)

(a) any representation or warranty made or deemed made in or in connection with any Loan
Document hereunder, or any representation, warranty, statement or information contained in any
report, certificate, financial statement or other instrument furnished in connection with or
pursuant to any Loan Document, shall prove to have been false or misleading in any material respect
when so made, deemed made or furnished;

(b) default shall be made in the payment of any principal of any Loan when and as the same
shall become due and payable, whether at the due date thereof or at a date fixed for prepayment
thereof or by acceleration thereof or otherwise;

(c) default shall be made in the payment of any interest on any Loan or any Fee or any other
amount (other than an amount referred to in paragraph (b) above) due under any Loan Document, when
and as the same shall become due and payable, and such default shall continue unremedied for a
period of three Business Days;

(d) default shall be made in the due observance or performance by Parent Holdings, the
Borrower or any Subsidiary Guarantor of any covenant, condition or agreement contained in
Section 5.01(a), 5.02, 5.05, 5.08, or in Article VI;

 

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(e) default shall be made in the due observance or performance by Parent Holdings, the
Borrower or any Subsidiary of any covenant, condition or agreement contained in any Loan Document
(other than those specified in paragraph (b), (c) or (d) above) and such default shall continue
unremedied for a period of 30 days after the earlier of (i) notice thereof from the Administrative
Agent to the Borrower (which notice shall also be given at the request of any Lender) or (ii)
knowledge thereof of Parent Holdings or the Borrower;

(f) (i) Parent Holdings, the Borrower or any Subsidiary Guarantor shall fail to pay any
principal or interest, regardless of amount, due in respect of any Material Indebtedness, when and
as the same shall become due and payable, or (ii) any other event or condition occurs that results
in any Material Indebtedness becoming due prior to its scheduled maturity or that enables or
permits (with or without the giving of notice, the lapse of time or both) the holder or holders of
any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material
Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance
thereof, prior to its scheduled maturity in each case which is not cured or waived; provided that
this clause (ii) shall not apply to secured Indebtedness that becomes due as a result of the
voluntary sale or transfer of the property or assets securing such Indebtedness;

(g) an involuntary proceeding shall be commenced or an involuntary petition shall be filed in
a court of competent jurisdiction seeking (i) relief in respect of Parent Holdings, the Borrower or
any Subsidiary (other than an Inactive Subsidiary), or of a substantial part of the property or
assets of Parent Holdings, the Borrower or a Subsidiary (other than an Inactive Subsidiary), under
Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal,
state or foreign bankruptcy, insolvency, receivership or similar law, (ii) the appointment of a
receiver, trustee, custodian, sequestrator, conservator or similar official for Parent Holdings,
the Borrower or any Subsidiary (other than an Inactive Subsidiary) or for a substantial part of the
property or assets of Parent Holdings, the Borrower or a Subsidiary or (iii) the winding-up or
liquidation of Parent Holdings, the Borrower or any Subsidiary (other than an Inactive Subsidiary);
and such proceeding or petition shall continue undismissed for 60 days or an order or decree
approving or ordering any of the foregoing shall be entered;

(h) Parent Holdings, the Borrower or any Subsidiary (other than an Inactive Subsidiary) shall
(i) voluntarily commence any proceeding or file any petition seeking relief under Title 11 of the
United States Code, as now constituted or hereafter amended, or any other Federal, state or foreign
bankruptcy, insolvency, receivership or similar law, (ii) consent to the institution of, or fail to
contest in a timely and appropriate manner, any proceeding or the filing of any petition described
in paragraph (g) above, (iii) apply for or consent to the appointment of a receiver, trustee,
custodian, sequestrator, conservator or similar official for Parent Holdings, the Borrower or any
Subsidiary (other than an Inactive Subsidiary) or for a substantial part of the property or assets
of Parent Holdings, the Borrower or any Subsidiary (other than an Inactive Subsidiary), (iv) file
an answer admitting the material allegations of a petition filed against it in any such proceeding,
(v) make a general assignment for the benefit of creditors, (vi) become unable, admit in writing
its inability or fail generally to pay its debts as they become due or (vii) take any action for
the purpose of effecting any of the foregoing;

(i) one or more judgments shall be rendered against Parent Holdings, the Borrower, any
Subsidiary or any combination thereof and the same shall remain undischarged for a period of 30
consecutive days during which execution shall not be effectively stayed, or any action shall be
legally taken by a judgment creditor to levy upon assets or properties of Parent Holdings, the
Borrower or any Subsidiary to enforce any such judgment and such judgment either (i) is for the
payment of money in an aggregate amount in excess of $4,000,000 (or, in the case of the Borrower
and its subsidiaries, $2,500,000) or (ii) is for injunctive relief and could reasonably be expected
to result in a Material Adverse Effect;

 

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(j) an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when
taken together with all other such ERISA Events, could reasonably be expected to result in
liability of the Borrower, any Subsidiary and ERISA Affiliates in an aggregate amount exceeding
$4,000,000 (or, in the case of the Borrower and its subsidiaries, $2,500,000);

(k) any Guarantee under the Guarantee and Collateral Agreement for any reason shall cease to
be in full force and effect (other than in accordance with its terms), or any Guarantor shall deny
in writing that it has any further liability under the Guarantee and Collateral Agreement (other
than as a result of the discharge of such Guarantor in accordance with the terms of the Loan
Documents); or

(l) any security interest purported to be created by any Security Document shall cease to be,
or shall be asserted by the Borrower or any other Loan Party not to be, a valid, perfected, first
priority (except as otherwise expressly provided in this Agreement or such Security Document)
security interest in the securities, assets or properties covered thereby except for any Lien
pertaining to Collateral that individually or in the aggregate is (i) of a de minimis value in
relation to the outstanding Obligations, or (ii) not material to the businesses or operations of
the Loan Parties, taken as a whole;

then, and in every such event (other than an event with respect to Parent Holdings or the Borrower
described in paragraph (g) or (h) above), and at any time thereafter during the continuance of such
event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to
the Borrower, declare the Loans then outstanding to be forthwith due and payable in whole or in
part, whereupon the principal of the Loans so declared to be due and payable, together with accrued
interest thereon and any unpaid accrued Fees and all other liabilities of the Borrower accrued
hereunder and under any other Loan Document, shall become forthwith due and payable, without
presentment, demand, protest or any other notice of any kind, all of which are hereby expressly
waived by the Borrower, anything contained herein or in any other Loan Document to the contrary
notwithstanding; and in any event with respect to Parent Holdings or the Borrower described in
paragraph (g) or (h) above, the principal of the Loans then outstanding, together with accrued
interest thereon and any unpaid accrued Fees and all other liabilities of the Borrower accrued
hereunder and under any other Loan Document, shall automatically become due and payable, without
presentment, demand, protest or any other notice of any kind, all of which are hereby expressly
waived by the Borrower, anything contained herein or in any other Loan Document to the contrary
notwithstanding.

ARTICLE VIII

The Administrative Agent and the Collateral Agent

Each Lender hereby irrevocably appoints the Administrative Agent and the Collateral Agent (for
purposes of this Article VIII, the Administrative Agent and the Collateral Agent are
referred to collectively as the “Agents”) its agent and authorizes the Agents to take such actions
on its behalf and to exercise such powers as are delegated to such Agent by the terms of the Loan
Documents, together with such actions and powers as are reasonably incidental thereto. Without
limiting the generality of the foregoing, the Agents are hereby expressly authorized to (i) execute
any and all documents (including releases) with respect to the Collateral and the rights of the
Secured Parties with respect thereto, as contemplated by and in accordance with the provisions of
this Agreement and the Security Documents and (ii) negotiate, enforce or the settle any claim,
action or proceeding affecting the Lenders in their capacity as such, at the direction of the
Required Lenders, which negotiation, enforcement or settlement will be binding upon each Lender.

 

71

 

The institution serving as the Administrative Agent and/or the Collateral Agent hereunder
shall have the same rights and powers in its capacity as a Lender as any other Lender and may
exercise the same as though it were not an Agent, and such bank and its Affiliates may accept
deposits from, lend money to and generally engage in any kind of business with Parent Holdings, the
Borrower or any Subsidiary or other Affiliate thereof as if it were not an Agent hereunder.

Neither Agent shall have any duties or obligations except those expressly set forth in the
Loan Documents. Without limiting the generality of the foregoing, (a) neither Agent shall be
subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and
is continuing, (b) neither Agent shall have any duty to take any discretionary action or exercise
any discretionary powers including under any Loan Documents, except discretionary rights and powers
expressly contemplated hereby or by any other Loan Document that such Agent is instructed in
writing to exercise by the Required Lenders (or such other number or percentage of the Lenders as
shall be necessary under the circumstances as provided in Section 9.08); provided that the
Administrative Agent shall not be required to take any action that, in its opinion or the opinion
of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan
Document or applicable law, including for the avoidance of doubt any action that may be in
violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture,
modification or termination of property of a Defaulting Lender in violation of any Debtor Relief
Law, and (c) except as expressly set forth in the Loan Documents, neither Agent shall have
any duty to disclose, nor shall it be liable for the failure to disclose, any information
relating to Parent Holdings, the Borrower or any of the Subsidiaries that is communicated to or
obtained by the bank serving as Administrative Agent and/or Collateral Agent or any of its
Affiliates in any capacity. Neither Agent shall be liable for any action taken or not taken by it
with the consent or at the request of the Required Lenders (or such other number or percentage of
the Lenders as shall be necessary under the circumstances as provided in Section 9.08) or
in the absence of its own gross negligence or willful misconduct. Neither Agent shall be deemed to
have knowledge of any Default unless and until written notice thereof is given to such Agent by
Parent Holdings, the Borrower or a Lender, and neither Agent shall be responsible for or have any
duty to ascertain or inquire into (i) any statement, warranty or representation made in or in
connection with any Loan Document, (ii) the contents of any certificate, report or other document
delivered thereunder or in connection therewith, (iii) the performance or observance of any of the
covenants, agreements or other terms or conditions set forth in any Loan Document, (iv) the
validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement,
instrument or document, or (v) the satisfaction of any condition set forth in Article IV or
elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be
delivered to such Agent.

Each Agent shall be entitled to rely upon, and shall not incur any liability for relying upon,
any notice, request, certificate, consent, statement, instrument, document or other writing
believed by it to be genuine and to have been signed or sent by the proper Person. Each Agent may
also rely upon any statement made to it orally or by telephone and believed by it to have been made
by the proper Person, and shall not incur any liability for relying thereon. Each Agent may consult
with legal counsel (who may be counsel for the Borrower), independent accountants and other experts
selected by it, and shall not be liable for any action taken or not taken by it in accordance with
the advice of any such counsel, accountants or experts.

Each Agent may perform any and all its duties and exercise its rights and powers by or through
any one or more sub-agents appointed by it, including any Construction Monitor (as defined in the
Borrower Mortgage). Each Agent and any such sub-agent may perform any and all its duties and
exercise its rights and powers by or through their respective Related Parties. The exculpatory
provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties
of each Agent and any such sub-agent, and shall apply to their respective activities in connection
with the syndication of the Loans as well as activities as Agent. Without limitation of any other
provision of this Agreement, each Agent shall be entitled to consult with and rely conclusively
upon, and shall not incur any liability for relying upon, the advice of any Construction Monitor.

 

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Subject to the appointment and acceptance of a successor Agent as provided below, either Agent
may resign at any time by notifying the Lenders and the Borrower. Upon any such resignation, the
Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor.
If no successor shall have been so appointed by the Required Lenders and shall have accepted such
appointment within 30 days after the retiring Agent gives notice of its resignation, then the
retiring Agent may, on behalf of the Lenders, appoint a successor Agent which shall be a bank with
an office in New York, New York, or an Affiliate of any such bank. If no successor Agent has been
appointed pursuant to the immediately preceding sentence by the 30th day after the date
such notice of resignation was given by such Agent, such Agent’s resignation shall become effective
and the Required Lenders shall thereafter perform all the duties of such Agent hereunder and/or
under any other Loan Document until such time, if any, as the Required Lenders appoint a successor
Administrative Agent and/or Collateral Agent, as the case may be. Upon the acceptance of its
appointment as Agent hereunder by a successor, such successor shall succeed to and become vested
with all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent
shall be discharged from its duties and obligations hereunder. The fees payable by the Borrower to
a successor Agent shall be the same as those payable to its predecessor unless otherwise
agreed between the Borrower and such successor. After an Agent’s resignation hereunder, the
provisions of this Article VIII and Section 9.05 shall continue in effect for the
benefit of such retiring Agent, its sub-agents and their respective Related Parties in respect of
any actions taken or omitted to be taken by any of them while acting as Agent.

Each Lender acknowledges that it has, independently and without reliance upon the Agents or
any other Lender and based on such documents and information as it has deemed appropriate, made its
own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that
it will, independently and without reliance upon the Agents or any other Lender and based on such
documents and information as it shall from time to time deem appropriate, continue to make its own
decisions in taking or not taking action under or based upon this Agreement or any other Loan
Document, any related agreement or any document furnished hereunder or thereunder.

Notwithstanding any other provision of this Agreement or any provision of any other Loan
Document, each of the Lead Arranger and the Syndication Agent are named as such for recognition
purposes only, and in their respective capacities as such shall have no duties, responsibilities or
liabilities with respect to this Agreement or any other Loan Document; it being understood and
agreed that each of the Lead Arranger and the Syndication Agent shall be entitled to all
indemnification and reimbursement rights in favor of the Agents provided herein and in the other
Loan Documents. Without limitation of the foregoing, neither the Lead Arranger nor the Syndication
Agent in their respective capacities as such shall, by reason of this Agreement or any other Loan
Document, have any fiduciary relationship in respect of any Lender, Loan Party or any other Person.

ARTICLE IX

Miscellaneous

SECTION 9.01. Notices; Electronic Communications. Notices and other communications provided
for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed
by certified or registered mail or sent by fax, as follows:

(a) if to the Borrower or Parent Holdings, to it at 10877 Wilshire Blvd., Suite 710 LA, CA
90024, Attention of General Counsel (Fax No. 310-208-7165), Email: cmorris@rentk.com;

 

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(b) if to the Administrative Agent, to Credit Suisse AG, Cayman Islands Branch, Agency
Manager, One Madison Avenue, New York, NY 10010, Fax No. 212-322-2291, Email:
agency.loanops@credit-suisse.com, Attention of Sean Portrait; and

(c) if to a Lender, to it at its address (or fax number) set forth on Schedule 2.01 or
in the Assignment and Acceptance pursuant to which such Lender shall have become a party hereto.

All notices and other communications given to any party hereto in accordance with the
provisions of this Agreement shall be deemed to have been given on the date of receipt if delivered
by hand or overnight courier service or sent by fax or on the date five Business Days after
dispatch by certified or registered mail if mailed, in each case delivered, sent or mailed
(properly addressed) to such party as provided in this Section 9.01 or in accordance with
the latest unrevoked direction from such party given in accordance with this Section 9.01.
As agreed to among Parent Holdings, the Borrower, the Administrative Agent and the applicable
Lenders from time to time, notices and other communications may also be delivered by e-mail to the
e-mail address of a representative of the applicable Person provided from time to time by such
Person.

The Borrower hereby agrees, unless directed otherwise by the Administrative Agent or unless
the electronic mail address referred to below has not been provided by the Administrative Agent to
the Borrower, that it will, or will cause the Subsidiaries to, provide to the Administrative Agent
all information, documents and other materials that it is obligated to furnish to the
Administrative Agent pursuant to the Loan Documents or to the Lenders under Article V, including
all notices, requests, financial statements, financial and other reports, certificates and other
information materials, but excluding any such communication that (i) relates to the payment of any
principal or other amount due under this Agreement prior to the scheduled date therefor, (ii)
provides notice of any Default or Event of Default under this Agreement or any other Loan Document
or (iii) is required to be delivered to satisfy any condition precedent to the effectiveness of
this Agreement (all such non-excluded communications being referred to herein collectively as
“Communications”), by transmitting the Communications in an electronic/soft medium that is properly
identified in a format acceptable to the Administrative Agent to an electronic mail address as
directed by the Administrative Agent. In addition, the Borrower agrees, and agrees to cause the
Subsidiaries, to continue to provide the Communications to the Administrative Agent or the Lenders,
as the case may be, in the manner specified in the Loan Documents but only to the extent requested
by the Administrative Agent.

The Borrower hereby acknowledges that (a) the Administrative Agent will make available to the
Lenders materials and/or information provided by or on behalf of the Borrower hereunder
(collectively, the “Borrower Materials”) by posting the Borrower Materials on Intralinks or another
similar electronic system (the “Platform”) and (b) certain of the Lenders may be “public-side”
Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to
the Borrower or its securities) (each, a “Public Lender”). The Borrower hereby agrees that (w) all
Borrower Materials that are to be made available to Public Lenders shall be clearly and
conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear
prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower
shall be deemed to have authorized the Administrative Agent and the Lenders to treat such Borrower
Materials as not containing any material non-public information with respect to the Borrower or its
securities for purposes of United States federal and state securities laws (provided, however, that
to the extent such Borrower Materials constitute Information, they shall be treated as set forth in
Section 9.16); (y) all Borrower Materials marked “PUBLIC” are permitted to be made
available through a portion of the Platform designated as “Public Investor;” and (z) the
Administrative Agent shall be entitled to treat any Borrower Materials that are not marked “PUBLIC”
as being suitable only for posting on a portion of the Platform not marked as “Public Investor.”
Notwithstanding the foregoing, the following Borrower Materials shall be marked “PUBLIC”, unless
the Borrower notifies the Administrative Agent promptly that any such document contains material
non-public information: (1) the Loan Documents and (2) notification of changes in the terms of the
Credit Facility or the Loans.

 

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Each Public Lender agrees to cause at least one individual at or on behalf of such Public
Lender to at all times have selected the “Private Side Information” or similar designation on the
content declaration screen of the Platform in order to enable such Public Lender or its delegate,
in accordance with such Public Lender’s compliance procedures and applicable law, including United
States Federal and state securities laws, to make reference to Communications that are not made
available through the “Public Side Information” portion of the Platform and that may contain
material non-public information with respect to the Borrower or its securities for purposes of
United States Federal or state securities laws.

THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE”. NEITHER THE ADMINISTRATIVE AGENT NOR ANY
OF ITS RELATED PARTIES WARRANTS THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY
OF THE PLATFORM AND EACH EXPRESSLY DISCLAIMS LIABILITY FOR ERRORS OR OMISSIONS IN THE
COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR
STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE,
NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS IS MADE BY THE
ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE
PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES HAVE ANY
LIABILITY TO ANY LOAN PARTY, ANY LENDER OR ANY OTHER PERSON FOR DAMAGES OF ANY KIND, WHETHER OR NOT
BASED ON STRICT LIABILITY AND INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL
DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF ANY LOAN
PARTY’S OR THE ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT
TO THE EXTENT THE LIABILITY OF ANY SUCH PERSON IS FOUND IN A FINAL RULING BY A COURT OF COMPETENT
JURISDICTION TO HAVE RESULTED PRIMARILY FROM SUCH PERSON’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.

The Administrative Agent agrees that the receipt of the Communications by the Administrative
Agent at its e-mail address set forth above shall constitute effective delivery of the
Communications to the Administrative Agent for purposes of the Loan Documents. Each Lender agrees
that receipt of notice to it (as provided in the next sentence) specifying that the Communications
have been posted to the Platform shall constitute effective delivery of the Communications to such
Lender for purposes of the Loan Documents. Each Lender agrees to notify the Administrative Agent
in writing (including by electronic communication) from time to time of such Lender’s e-mail
address to which the foregoing notice may be sent by electronic transmission and that the foregoing
notice may be sent to such e-mail address. Nothing herein shall prejudice the right of the
Administrative Agent or any Lender to give any notice or other communication pursuant to any Loan
Document in any other manner specified in such Loan Document.

SECTION 9.02. Survival of Agreement. All covenants, agreements, representations and
warranties made by the Borrower or Parent Holdings herein and in the certificates or other
instruments prepared or delivered in connection with or pursuant to this Agreement or any other
Loan Document shall be considered to have been relied upon by the Lenders and shall survive the
making by the Lenders of the Loans, regardless of any investigation made by the Lenders or on their
behalf, and shall continue in full force and effect as long as the principal of or any accrued
interest on any Loan or any Fee or any other amount payable under this Agreement or any other Loan
Document is outstanding and unpaid. The provisions of Sections 2.15, 2.17,
2.19 and 9.05 shall remain operative and in full force and effect regardless of the
expiration of the term of this Agreement, the consummation of the transactions contemplated hereby,
the repayment of any of the Loans, the invalidity or unenforceability of any term or provision of
this Agreement or any other Loan Document, or any investigation made by or on behalf of the
Administrative Agent, the Collateral Agent or any Lender.

 

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SECTION 9.03. Binding Effect. This Agreement shall become effective when it shall have been
executed by the Borrower, Parent Holdings and the Administrative Agent and when the Administrative
Agent shall have received counterparts hereof which, when taken together, bear the signatures of
each of the other parties hereto.

SECTION 9.04. Successors and Assigns. (a) Whenever in this Agreement any of the parties
hereto is referred to, such reference shall be deemed to include the permitted successors and
assigns of such party; and all covenants, promises and agreements by or on behalf of the Borrower,
Parent Holdings, the Administrative Agent, the Collateral Agent or the Lenders that are contained
in this Agreement shall bind and inure to the benefit of their respective successors and assigns.

(b) Each Lender may assign to one or more Eligible Assignees all or a portion of its
interests, rights and obligations under this Agreement (including all or a portion of its
Commitment(s) and the Loans at the time owing to it); provided, however, that (i) the amount of the
Commitment(s) or the Loans of the assigning Lender subject to each such assignment (determined as
of the date the Assignment and Acceptance with respect to such assignment is delivered to the
Administrative Agent) shall be in an integral multiple of, and not less than, $1,000,000 (or, if
less, the entire remaining amount of such Lender’s Loans); provided that simultaneous assignments
by two or more Related Funds shall be combined for purposes of determining whether the minimum
assignment requirement is met, (ii) the parties to each assignment shall (A) execute and deliver to
the Administrative Agent an Assignment and Acceptance via an electronic settlement system
acceptable to the Administrative Agent or (B) if previously agreed with the Administrative Agent,
manually execute and deliver to the Administrative Agent an Assignment and Acceptance, and, in each
case, shall pay to the Administrative Agent a processing and recordation fee of $3,500 (which fee
may be waived or reduced in the sole discretion of the Administrative Agent), and (iii) the
assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative
Questionnaire (in which the assignee shall designate one or more credit contacts to whom all
syndicate-level information (which may contain material non-public information about the Loan
Parties and their Related Parties or their respective securities) will be made available and who
may receive such information in accordance with the assignee’s compliance procedures and applicable
laws, including Federal and state securities laws) and all applicable tax forms. In connection
with any assignment of rights and obligations of any Defaulting Lender hereunder, no such
assignment shall be effective unless and until, in addition to the other conditions thereto set
forth herein, the parties to the assignment shall make such additional payments to the
Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate
(which may be outright payment, purchases by the assignee of participations or subparticipations,
or other compensating actions, including funding, with the consent of the Borrower and the
Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by
the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably
consent), to pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to
the Administrative Agent and each Lender hereunder (and interest accrued thereon). Notwithstanding
the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender
hereunder shall become effective under applicable law without compliance with the provisions of
this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for
all purposes of this Agreement until such compliance occurs. Upon acceptance and recording
pursuant to Section 9.04(e), from and after the effective date specified in each Assignment
and Acceptance, (A) the assignee thereunder shall be a party hereto and, to the extent of the
interest assigned by such Assignment and Acceptance, have the rights and obligations of a Lender
under this Agreement and (B) the assigning Lender thereunder shall, to the extent of the interest
assigned by such Assignment and Acceptance, be released from its obligations under this Agreement
(and, in the case of an Assignment and Acceptance covering all or the remaining portion of an
assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a
party hereto but shall continue to be entitled to the benefits of Sections 2.15 (provided,
for the avoidance of doubt, that such Lender continues to comply with Section 2.15(e)),
2.17, 2.19 and 9.05, as well as to any Fees, if any, accrued for its
account and not yet paid). Notwithstanding the foregoing, except to the extent otherwise expressly
agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or
release of any claim of any party hereunder arising from that Lender’s having been a Defaulting
Lender.

 

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(c) By executing and delivering an Assignment and Acceptance, the assigning Lender thereunder
and the assignee thereunder shall be deemed to confirm to and agree with each other and the other
parties hereto as follows: (i) such assigning Lender warrants (A) that it is the legal and
beneficial owner of the interest being assigned thereby free and clear of any adverse claim and the
outstanding balances of its Loans, without giving effect to assignments thereof which have not
become effective, are as set forth in such Assignment and Acceptance and (B) as to its status as a
Non-Defaulting Lender or a
Defaulting Lender, as set forth in such Assignment and Acceptance, (ii) except as set forth in
(i) above, such assigning Lender makes no representation or warranty and assumes no responsibility
with respect to any statements, warranties or representations made in or in connection with this
Agreement, or the execution, legality, validity, enforceability, genuineness, sufficiency or value
of this Agreement, any other Loan Document or any other instrument or document furnished pursuant
hereto, or the financial condition of the Borrower or any Subsidiary or the performance or
observance by the Borrower or any Subsidiary of any of its obligations under this Agreement, any
other Loan Document or any other instrument or document furnished pursuant hereto; (iii) such
assignee represents and warrants that it is legally authorized to enter into such Assignment and
Acceptance; (iv) such assignee confirms that it has received a copy of this Agreement, together
with copies of the most recent financial statements referred to in Section 3.05(a) or
delivered pursuant to Section 5.04 and such other documents and information as it has
deemed appropriate to make its own credit analysis and decision to enter into such Assignment and
Acceptance; (v) such assignee will independently and without reliance upon the Administrative
Agent, the Collateral Agent, such assigning Lender or any other Lender and based on such documents
and information as it shall deem appropriate at the time, continue to make its own credit decisions
in taking or not taking action under this Agreement; (vi) such assignee appoints and authorizes the
Administrative Agent and the Collateral Agent to take such action as agent on its behalf and to
exercise such powers under this Agreement as are delegated to the Administrative Agent and the
Collateral Agent, respectively, by the terms hereof, together with such powers as are reasonably
incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their
terms all the obligations which by the terms of this Agreement are required to be performed by it
as a Lender.

(d) The Administrative Agent, acting for this purpose as an agent of the Borrower, shall
maintain at one of its offices in The City of New York a copy of each Assignment and Acceptance
delivered to it and a register for the recordation of the names and addresses of the Lenders and
principal amount of the Loans owing to, each Lender pursuant to the terms hereof from time to time
(the “Register”). The entries in the Register shall be conclusive and the Borrower, the
Administrative Agent, the Collateral Agent and the Lenders may treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of
this Agreement, notwithstanding notice to the contrary. The Register shall be available for
inspection by the Borrower, the Collateral Agent and any Lender, at any reasonable time and from
time to time upon reasonable prior notice.

(e) Upon its receipt of, and consent to, a duly completed Assignment and Acceptance executed
by an assigning Lender and an assignee, an Administrative Questionnaire completed in respect of the
assignee (unless the assignee shall already be a Lender hereunder), the processing and recordation
fee referred to in paragraph (b) above, if applicable, and any applicable tax forms, the
Administrative Agent shall promptly (i) accept such Assignment and Acceptance and (ii) record the
information contained therein in the Register. No assignment shall be effective unless it has been
recorded in the Register as provided in this paragraph (e).

 

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(f) Each Lender may without the consent of the Borrower or the Administrative Agent sell
participations to one or more banks or other Persons in all or a portion of its rights and
obligations under this Agreement (including all or a portion of its Commitment(s) and the Loans
owing to it); provided, however, that (i) such Lender’s obligations under this Agreement shall
remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for
the performance of such obligations, (iii) the participating banks or other Persons shall be
entitled to the benefit of the cost protection provisions contained in Sections 2.15,
2.17 and 2.19 to the same extent as if they were Lenders (but, with respect to any
particular participant, to no greater extent than the Lender that sold the participation to such
participant), (iv) in no event shall any Lender sell participations to the Borrower or any
Affiliate of the Borrower and (v) the Borrower, the Administrative Agent and the Lenders shall
continue to deal solely and directly with such Lender in connection with such Lender’s rights and
obligations under this
Agreement, and such Lender shall retain the sole right to enforce the obligations of the
Borrower relating to the Loans and to approve any amendment, modification or waiver of any
provision of this Agreement (other than amendments, modifications or waivers decreasing any fees
payable to such participating bank or Person hereunder or the amount of principal of or the rate at
which interest is payable on the Loans in which such participating bank or Person has an interest,
extending any scheduled principal payment date or date fixed for the payment of interest on the
Loans in which such participating bank or Person has an interest or releasing any Guarantor (other
than in connection with the sale of a Guarantor in a transaction permitted by Section 6.05)
or all or substantially all of the Collateral). Each Lender shall maintain at one of its offices a
register for the recordation of the names and addresses of its participants and SPVs to which it
has granted an option, and the amount and terms of its participations and such SPV options;
provided that no Lender shall be required to disclose or share the information contained in such
register with the Borrower or any other Person, except as required by applicable law.

(g) Any Lender or participant may, in connection with any assignment or participation or
proposed assignment or participation pursuant to this Section 9.04, disclose to the
assignee or participant or proposed assignee or participant any information relating to the
Borrower furnished to such Lender by or on behalf of the Borrower; provided that, prior to any such
disclosure of information designated by the Borrower as confidential, each such assignee or
participant or proposed assignee or participant shall execute an agreement whereby such assignee or
participant shall agree (subject to customary exceptions) to preserve the confidentiality of such
confidential information on terms no less restrictive than those applicable to the Lenders pursuant
to Section 9.16.

(h) Any Lender may at any time assign all or any portion of its rights under this Agreement to
secure extensions of credit to such Lender or in support of obligations owed by such Lender;
provided that no such assignment shall release a Lender from any of its obligations hereunder or
substitute any such assignee for such Lender as a party hereto.

(i) Notwithstanding anything to the contrary contained herein, any Lender (a “Granting
Lender”) may grant to a special purpose funding vehicle (an “SPV”), identified as such in writing
from time to time by the Granting Lender to the Administrative Agent and the Borrower, the option
to provide to the Borrower all or any part of any Loan that such Granting Lender would otherwise be
obligated to make to the Borrower pursuant to this Agreement; provided that (i) nothing herein
shall constitute a commitment by any SPV to make any Loan and (ii) if an SPV elects not to exercise
such option or otherwise fails to provide all or any part of such Loan,

 

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 the Granting Lender shall
be obligated to make such Loan pursuant to the terms hereof. The making of a Loan by an SPV hereunder shall utilize the Commitment(s) of the Granting Lender to the same extent, and as if,
such Loan were made by such Granting Lender. Each party hereto hereby agrees that no SPV shall be
liable for any indemnity or similar payment obligation under this Agreement (all liability for
which shall remain with the Granting Lender). In furtherance of the foregoing, each party hereto
hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the
date that is one year and one day after the payment in full of all outstanding commercial paper or
other senior indebtedness of any SPV, it will not institute against, or join any other Person in
instituting against, such SPV any bankruptcy, reorganization, arrangement, insolvency or
liquidation proceedings under the laws of the United States or any State thereof. In addition,
notwithstanding anything to the contrary contained in this Section 9.04, any SPV may (i)
with notice to, but without the prior written consent of, the Borrower and the Administrative Agent
and without paying any processing fee therefor, assign all or a portion of its interests in any
Loans to the Granting Lender or to any financial institutions (consented to by the Borrower and
Administrative Agent) providing liquidity and/or credit support to or for the account of such SPV
to support the funding or maintenance of Loans and (ii) disclose on a confidential basis any
non-public information relating to its Loans to any rating agency, commercial paper dealer or
provider of any surety, guarantee or credit or liquidity enhancement to such SPV.

(j) Neither Parent Holdings nor the Borrower shall assign or delegate any of its rights or
duties hereunder without the prior written consent of the Administrative Agent, and each Lender,
and any attempted assignment without such consent shall be null and void.

SECTION 9.05. Expenses; Indemnity. (a) The Borrower and Parent Holdings agree, jointly and
severally, to pay all out-of-pocket expenses incurred by the Administrative Agent and the
Collateral Agent in connection with the syndication of the Credit Facility, the Loans and the
preparation and administration of this Agreement and the other Loan Documents or in connection with
any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the
transactions hereby or thereby contemplated shall be consummated) or incurred by the Administrative
Agent, the Collateral Agent or any Lender in connection with the enforcement or protection of its
rights (including, without limitation, in connection with a workout or restructuring) in connection
with this Agreement and the other Loan Documents or in connection with the Loans made hereunder,
including the fees, charges and disbursements of Proskauer Rose, LLP, counsel for the
Administrative Agent and the Collateral Agent, and, in connection with any such enforcement or
protection, the fees, charges and disbursements of any other counsel for the Administrative Agent,
the Collateral Agent or any Lender.

(b) The Borrower and Parent Holdings agree, jointly and severally, to indemnify the
Administrative Agent, the Collateral Agent, the Lead Arranger, each Lender and each Related Party
of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and to
hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related
costs and expenses, including reasonable counsel fees, charges and disbursements, incurred by or
asserted against any Indemnitee arising out of, in any way connected with, or as a result of (i)
the execution or delivery of this Agreement or any other Loan Document or any agreement or
instrument contemplated thereby, the performance by the parties thereto of their respective
obligations thereunder or the consummation of the Transactions and the other transactions
contemplated thereby (including the syndication of the Credit Facility), (ii) the use of the
proceeds of the Loans, (iii) any claim, litigation, investigation or proceeding relating to any of
the foregoing, whether or not any Indemnitee is a party thereto (and regardless of whether such
matter is initiated by a third party or by the Borrower, any other Loan Party or any of their
respective Affiliates), or (iv) any actual or alleged presence or Release of Hazardous Materials on
any property currently or formerly owned or operated by the Borrower or any of the Subsidiaries, or
any Environmental Liability related in any way to Parent Holdings, the Borrower or the
Subsidiaries; provided that such indemnity shall not, as to any Indemnitee, be available to the
extent that such losses, claims, damages, liabilities or related expenses are determined by a court
of competent jurisdiction by final and nonappealable judgment to have resulted primarily from the
gross negligence, bad faith or willful misconduct of such Indemnitee. This Section 9.05(b)
shall not apply to the extent that such losses, claims, damages, liabilities or related expenses
relate to any Taxes described in Section 2.15.

 

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(c) To the extent that Parent Holdings and the Borrower fail to pay any amount required to be
paid by them to the Administrative Agent or the Collateral Agent under Section 9.05(a) or
9.05(b), each Lender severally agrees to pay to the Administrative Agent or the Collateral
Agent, as the case may be, such Lender’s pro rata share (determined as of the time that the
applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided
that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as
the case may be, was incurred by or asserted against the Administrative Agent or the Collateral
Agent, in its capacity as such. For purposes hereof, a Lender’s “pro rata share” shall be
determined based upon its share of the sum of the outstanding Loans at the time.

(d) To the extent permitted by applicable law, neither Parent Holdings nor the Borrower shall
assert, and each hereby waives, any claim against any Indemnitee, on any theory of liability, for
special, indirect, consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in
connection with, or as a result of, this Agreement or any agreement or instrument contemplated
hereby, the Transactions any Loan or the use of the proceeds thereof.

(e) The provisions of this Section 9.05 shall remain operative and in full force and
effect regardless of the expiration of the term of this Agreement, the consummation of the
transactions contemplated hereby, the repayment of any of the Loans, the invalidity or
unenforceability of any term or provision of this Agreement or any other Loan Document, or any
investigation made by or on behalf of the Administrative Agent, the Collateral Agent or any Lender.
All amounts due under this Section 9.05 shall be payable on written demand therefor.

SECTION 9.06. Right of Setoff. If an Event of Default shall have occurred and be continuing,
each Lender is hereby authorized at any time and from time to time, except to the extent prohibited
by law, to set off and apply any and all deposits (general or special, time or demand, provisional
or final) at any time held and other indebtedness at any time owing by such Lender to or for the
credit or the account of the Borrower or Parent Holdings against any of and all the obligations of
the Borrower or Parent Holdings now or hereafter existing under this Agreement and other Loan
Documents held by such Lender, irrespective of whether or not such Lender shall have made any
demand under this Agreement or such other Loan Document and although such obligations may be
contingent or unmatured or are owed to a branch or office of such Lender different from the branch,
office or Affiliate holding such deposit or obligated on such Indebtedness; provided that in the
event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set
off shall be paid over immediately to the Administrative Agent for further application in
accordance with the provisions of Section 2.22 and, pending such payment, shall be
segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit
of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly
to the Administrative Agent a statement describing in reasonable detail the Obligations owing to
such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender
under this Section 9.06 are in addition to other rights and remedies (including other
rights of setoff) which such Lender may have.

SECTION 9.07. Applicable Law. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN AS
EXPRESSLY SET FORTH IN OTHER LOAN DOCUMENTS) SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY
THE LAWS OF THE STATE OF NEW YORK.

 

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SECTION 9.08. Waivers; Amendment. (a) No failure or delay of the Administrative Agent, the
Collateral Agent or any Lender in exercising any power or right hereunder or under any other Loan
Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such
right or power, or any abandonment or discontinuance of steps to enforce such a right or power,
preclude any other or further exercise thereof or the exercise of any other right or power. The
rights and remedies of the Administrative Agent, the Collateral Agent and the Lenders hereunder and
under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that
they would otherwise have. No waiver of any provision of this Agreement or any other Loan Document
or consent to any departure by the Borrower or any other Loan Party therefrom shall in any event be
effective unless the same shall be permitted by paragraph (b) below, and then such waiver or
consent shall be effective only in the specific instance and for the purpose for which given. No
notice or demand on the Borrower or Parent Holdings in any case shall entitle the Borrower or
Parent Holdings to any other or further notice or demand in similar or other circumstances.

(b) Neither this Agreement nor any other Loan Document nor any provision hereof or thereof may
be waived, amended or modified except pursuant to an agreement or agreements in writing entered
into by the Borrower, Parent Holdings and the Required Lenders; provided, however, that no such
agreement shall (i) decrease the principal amount of, or extend the maturity of or any
scheduled principal payment date or date for the payment of any interest on any Loan, or waive or
excuse any such payment or any part thereof, or decrease the rate of interest on any Loan, in each
case without the prior written consent of each Lender directly adversely affected thereby, (ii)
decrease or extend the date for payment of any fees of any Lender without the prior written consent
of such Lender, (iii) amend or modify the pro rata requirements of Section 2.12, the
provisions of Section 9.04(j) or the provisions of this Section 9.08 or release any
Guarantor (other than in connection with the sale of a Guarantor in a transaction permitted by
Section 6.05) or all or substantially all of the Collateral, without the prior written
consent of each Lender, (iv) modify the protections afforded to an SPV pursuant to the provisions
of Section 9.04(i) without the written consent of such SPV, (v) increase the Commitment of
any Lender without the written consent of such Lender (it being understood that no amendment,
modification, termination, waiver or consent with respect to any condition precedent, covenant or
Default (or any definition used, respectively, therein) shall constitute an increase in the
Commitment of any Lender for purposes of this clause (v)), or (vi) reduce the percentage contained
in the definition of the term “Required Lenders” without the prior written consent of each Lender;
provided further that no such agreement shall amend, modify or otherwise affect the rights or
duties of the Administrative Agent or the Collateral Agent hereunder or under any other Loan
Document without the prior written consent of the Administrative Agent or the Collateral Agent.

SECTION 9.09. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if
at any time the interest rate applicable to any Loan, together with all fees, charges and other
amounts which are treated as interest on such Loan under applicable law (collectively the
“Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for,
charged, taken, received or reserved by the Lender holding such Loan or participation in accordance
with applicable law, the rate of interest payable in respect of such Loan or participation
hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum
Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of
such Loan or participation but were not payable as a result of the operation of this Section
9.09 shall be cumulated and the interest and Charges payable to such Lender in respect of other
Loans or participations or periods shall be increased (but not above the Maximum Rate therefor)
until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to
the date of repayment, shall have been received by such Lender.

 

81

 

SECTION 9.10. Entire Agreement. This Agreement, the Engagement Letter and the other Loan
Documents constitute the entire contract between the parties relative to the subject matter hereof.
Any other previous agreement among the parties with respect to the subject matter hereof is
superseded by this Agreement and the other Loan Documents. Nothing in this Agreement or in the
other Loan Documents, expressed or implied, is intended to confer upon any Person (other than the
parties hereto and thereto, their respective successors and assigns permitted hereunder and, to the
extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the
Collateral Agent and the Lenders) any rights, remedies, obligations or liabilities under or by
reason of this Agreement or the other Loan Documents.

SECTION 9.11. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE
OTHER LOAN DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF
ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.11.

SECTION 9.12. Severability. In the event any one or more of the provisions contained in this
Agreement or in any other Loan Document should be held invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions contained herein and
therein shall not in any way be affected or impaired thereby (it being understood that the
invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect
the validity of such provision in any other jurisdiction). The parties shall endeavor in
good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of the invalid, illegal
or unenforceable provisions.

SECTION 9.13. Counterparts. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original but all of
which when taken together shall constitute a single contract, and shall become effective as
provided in Section 9.03. Delivery of an executed signature page to this Agreement by
facsimile transmission or other electronic means shall be as effective as delivery of a manually
signed counterpart of this Agreement.

SECTION 9.14. Headings. Article and Section headings and the Table of Contents used herein
are for convenience of reference only, are not part of this Agreement and are not to affect the
construction of, or to be taken into consideration in interpreting, this Agreement.

SECTION 9.15. Jurisdiction; Consent to Service of Process. (a) Each of Parent Holdings and
the Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the
non-exclusive jurisdiction of any New York State court or Federal court of the United States of
America sitting in New York City, and any appellate court from any thereof, in any action or
proceeding arising out of or relating to this Agreement or the other Loan Documents, or for
recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and
unconditionally agrees that all claims in respect of any such action or proceeding may be heard and
determined in such New York State or, to the extent permitted by law, in such Federal court. Each
of the parties hereto agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by law. Nothing in this Agreement shall affect any right that the Administrative
Agent, the Collateral Agent or any Lender may otherwise have to bring any action or proceeding
relating to this Agreement or the other Loan Documents against the Borrower, Parent Holdings or
their respective properties in the courts of any jurisdiction.

 

82

 

(b) Each of Parent Holdings and the Borrower hereby irrevocably and unconditionally waives, to
the fullest extent it may legally and effectively do so, any objection which it may now or
hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating
to this Agreement or the other Loan Documents in any New York State or Federal court. Each of the
parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court.

(c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 9.01. Nothing in this Agreement will affect the right of
any party to this Agreement to serve process in any other manner permitted by law.

SECTION 9.16. Confidentiality. Each of the Administrative Agent, the Collateral Agent and the
Lenders agrees to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (a) to its Affiliates and its and its Affiliates’ officers, directors,
employees
and agents, including accountants, legal counsel, other advisors and numbering, administration
and settlement service providers (it being understood that the Persons to whom such disclosure is
made will be informed of the confidential nature of such Information and instructed to keep such
Information confidential), (b) to the extent requested by any regulatory authority or
quasi-regulatory authority (such as the National Association of Insurance Commissioners), (c) to
the extent required by applicable laws or regulations or by any subpoena or similar legal process,
(d) in connection with the exercise of any remedies hereunder or under the other Loan Documents or
any suit, action or proceeding relating to the enforcement of its rights hereunder or thereunder,
(e) subject to an agreement containing provisions substantially the same as those of this
Section 9.16, to (i) any actual or prospective assignee of or participant in any of its
rights or obligations under this Agreement and the other Loan Documents or (ii) any actual or
prospective counterparty (or its advisors) to any swap or derivative transaction relating to the
Borrower or any Subsidiary or any of their respective obligations, (f) with the consent of the
Borrower or (g) to the extent such Information becomes publicly available other than as a result of
a breach of this Section 9.16. For the purposes of this Section 9.16,
“Information” shall mean all information received from the Borrower or Parent Holdings and related
to the Borrower or Parent Holdings or their business, other than any such information that was
available to the Administrative Agent, the Collateral Agent or any Lender on a nonconfidential
basis prior to its disclosure by the Borrower or Parent Holdings; provided that, in the case of
Information received from the Borrower or Parent Holdings after the date hereof, such information
is clearly identified at the time of delivery as confidential. Any Person required to maintain the
confidentiality of Information as provided in this Section 9.16 shall be considered to have
complied with its obligation to do so if such Person has exercised the same degree of care to
maintain the confidentiality of such Information as such Person would accord its own confidential
information.

SECTION 9.17. Lender Action. Each Lender agrees that it shall not take or institute any
actions or proceedings, judicial or otherwise, for any right or remedy against any Loan Party or
any other obligor under any of the Loan Documents (including the exercise of any right of setoff,
rights on account of any banker’s lien or similar claim or other rights of self-help), or institute
any actions or proceedings, or otherwise commence any remedial procedures, with respect to any
Collateral or any other property of any such Loan Party, unless expressly provided for herein or in
any other Loan Document, without the prior written consent of the Administrative Agent. The
provisions of this Section 9.17 are for the sole benefit of the Lenders and shall not
afford any right to, or constitute a defense available to, any Loan Party.

 

83

 

SECTION 9.18. USA PATRIOT Act Notice. Each Lender and the Administrative Agent (for itself
and not on behalf of any Lender) hereby notifies Parent Holdings and the Borrower that pursuant to
the requirements of the USA PATRIOT Act, it is required to obtain, verify and record information
that identifies the Loan Parties, which information includes the name and address of the Loan
Parties and other information that will allow such Lender or the Administrative Agent, as
applicable, to identify the Loan Parties in accordance with the USA PATRIOT Act.

SECTION 9.19. Diligence. Notwithstanding that certain documents, agreements and information
have been provided electronically by or on behalf of the Borrower to any of the Agents, the Lenders
and their respective counsel, no such documents, agreements or information shall be considered
disclosed under this Agreement or any other Loan Document unless such documents, agreements and
information are set forth in the Schedules to this Agreement as of the Closing Date. Furthermore,
access by any Agent or Lender or their respective counsel or advisors to any data room containing
such documents, agreements or information shall not be deemed a waiver by any such Person of the
foregoing statement.

[Remainder of page intentionally left blank.]

 

84

 

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

	 	 	 	 	 	 	 
	 	 	RENTECH ENERGY MIDWEST CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Dan J. Cohrs 	 	 
	 

	 	 	 	 

Name: Dan J. Cohrs
	 	 
	 

	 	 	 	Title: Vice President & Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	RENTECH, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Dan J. Cohrs 	 	 
	 

	 	 	 	 

Name: Dan J. Cohrs
	 	 
	 

	 	 	 	Title: Executive Vice
President and Chief Financial
Officer	 	 

 

S-1

 

	 	 	 	 	 	 	 
	 	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, individually	 	 
	 	 	as Lender, as Administrative Agent and Collateral Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Mikhail
Faybusovich 	 	 
	 

	 	 	 	 

Name: Mikhail
Faybusovich
	 	 
	 

	 	 	 	Title: Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Vipul
Dhadda 	 	 
	 

	 	 	 	 

Name: Vipul
Dhadda
	 	 
	 

	 	 	 	Title: Associate	 	 

 

 

 

	 	 	 	 	 	 	 	 	 
	 	 	HIGHBRIDGE SENIOR LOAN HOLDINGS, LP,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	Highbridge Principal Strategies, LLC	 	 
	 

	 	 	 	Its:
	 	Investment Manager	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	/s/ Michael Patterson	 	 
	 

	 	 	 	 	 	 

Name: Michael Patterson
	 	 
	 

	 	 	 	 	 	Title: Managing Director	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	HIGHBRIDGE PRINCIPAL STRATEGIES — SENIOR LOAN FUND II, LP, as a Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	Highbridge Principal Strategies, LLC	 	 
	 

	 	 	 	Its:
	 	Investment Manager	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	/s/ Michael Patterson 	 	 
	 

	 	 	 	 	 	 

Name: Michael Patterson
	 	 
	 

	 	 	 	 	 	Title: Managing Director

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