Document:

Exhibit 10.14

 

Agreement on Term Loan with Commitment Period

(700 million yen)

 

	
 
    	
Borrower
    	
UBIC, Inc.
    
	
 
    	
 
    	
 
    
	
 
    	
Arranger and Agent
    	
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
    
	
 
    	
 
    	
 
    
	
 
    	
Lenders
    	
The Bank of Tokyo-Mitsubishi UFJ, Ltd.

The Bank of Yokohama, Ltd.

Sumitomo Mitsui Banking Corporation

Resona Bank, Limited
    

 

September 27, 2011

 

 

Table of Contents

 

	
Article 1
    	
(Definitions)
    
	
Article 2
    	
(Rights and Obligations of Lenders)
    
	
Article 3
    	
(Purpose of Proceeds)
    
	
Article 4
    	
(Application of Aggregate Individual Loan)
    
	
Article 5
    	
(Conditions Precedent for Drawdown of Each   Individual Loan)
    
	
Article 6
    	
(Drawdown of Aggregate Individual Loan)
    
	
Article 7
    	
(Refusal to Make Each Individual Loan)
    
	
Article 8
    	
(Exemption of Lenders)
    
	
Article 9
    	
(Increased Costs and Illegality)
    
	
Article 10
    	
(Repayment of Principal)
    
	
Article 11
    	
(Interest)
    
	
Article 12
    	
(Prepayment)
    
	
Article 13
    	
(Default Interest)
    
	
Article 14
    	
(Commitment Fee)
    
	
Article 15
    	
(Agent Fee)
    
	
Article 16
    	
(Expenses, Taxes and Public Charges, and Break   Funding Cost)
    
	
Article 17
    	
(Performance of Borrower’s Obligations)
    
	
Article 18
    	
(Distribution to Lenders)
    
	
Article 19
    	
(Borrower’s Representations and Warranties)
    
	
Article 20
    	
(Borrower’s Covenants)
    
	
Article 21
    	
(Acceleration)
    
	
Article 22
    	
(Set-off, Exercise of Security Interest, and Sale by   Private Contract)
    
	
Article 23
    	
(Arrangements among Lenders and the Agent)
    
	
Article 24
    	
(Right and Duties of the Agent)
    
	
Article 25
    	
(Designation and Dismissal of the Agent)
    
	
Article 26
    	
(Clarification of the Intention of the Majority   Lender(s))
    
	
Article 27
    	
(Amendment to this Agreement)
    
	
Article 28
    	
(Assignment of this Agreement)
    
	
Article 29
    	
(Assignment of Loan Receivables, etc.)
    
	
Article 30
    	
(Collection from Third Party)
    
	
Article 31
    	
(Termination of Lending Obligations)
    
	
Article 32
    	
(General Provisions)
    
	
Appendix 1
    	
(List of Parties)
    
	
Appendix 2
    	
(Repayment Schedule)
    

 

 

	
Appendix 1
    	
(Drawdown Application)
    
	
Appendix 2
    	
(Conformation Statement)
    
	
Appendix 3
    	
(Receipt)
    
	
Appendix 4
    	
(Report on Status of Compliance with Restrictive   Financial Covenant)
    
	
Appendix 5
    	
(Report on Status of Provisions for Collection from   Third Party)
    
	
Appendix 6
    	
(Notice of Assignment of Status to the Agent)
    
	
Appendix 7
    	
(Receivables Assignment Notice to the Agent)
    

 

 

Agreement on Term Loan with Commitment Period

 

UBIC, Inc. (hereinafter referred to as the “Borrower”); the financial institutions described in the column of the “Lenders” in Appendix 1 attached to this Agreement (hereinafter respectively referred to as a “Lender,” and The Bank of Tokyo-Mitsubishi UFJ, Ltd. qualified as an agent (hereinafter referred to as the “Agent”), as of the date of September 27, 2011, enter into the following agreement (hereinafter referred to as this “Agreement”).

 

Article 1 (Definitions)

 

	
(1)
    	
In this Agreement, the following terms shall have   the meaning set forth below, unless it is apparent that such terms mean   otherwise in the context hereof.
    
	
 
    	
 
    	
 
    
	
 
    	
1.
    	
“Business Day” means any day other than those that   are bank holidays in Japan pursuant to the Laws and Ordinances of Japan.
    
	
 
    	
 
    	
 
    
	
 
    	
2
    	
“Agent Services” means the services set forth in the   provisions of this Agreement whereby the Agent was entrusted by all Lenders   to perform for the benefit of all Lenders.
    
	
 
    	
 
    	
 
    
	
 
    	
3.
    	
“Agent’s Account” means the checking account   (Account No. (41097, Account Holder: The Bank of Tokyo-Mitsubishi   UFJ, Ltd. Syndicate Account) or other accounts designated by the Agent   from time to time and notified to the Borrower and the Lender.
    
	
 
    	
 
    	
 
    
	
 
    	
4.
    	
“Agent Fee” means the fees that the Borrower shall   pay to the Agent as separately agreed upon between the Borrower and the   Agent.
    
	
 
    	
 
    	
 
    
	
 
    	
5.
    	
“Each Loan” has the meaning defined in   Article 10, paragraph 1.
    
	
 
    	
 
    	
 
    
	
 
    	
6.
    	
“Each Outstanding Loan Money” means the principal,   the interest, default interest, Break Funding Costs and any other payment   obligation that the Borrower owes pursuant to this Agreement with respect to   Each Loan.
    
	
 
    	
 
    	
 
    
	
 
    	
7
    	
“Each Individual Loan” means a Loan made by a Lender   respectively pursuant to the same Drawdown Application.
    
	
 
    	
 
    	
 
    
	
 
    	
8.
    	
“Each Individual Loan Money” means the money lent   (or to be lent) by a Lender to the Borrower as Each Individual Loan, and   “Each Individual Loan Amount” means the amount of the Individual Loan Money   (the amount calculated by multiplying the amount of the Aggregate Individual   Loan in relation to the relevant Drawdown Application by the Commitment Ratio   of that Lender. Notwithstanding the above, if the amount of the Aggregate   Individual Loan in relation to the relevant Drawdown Application is the total   of the Unused Commitment Amounts of all Lenders, the amount shall be the   amount corresponding to the Unused Commitment Amount of that Lender).
    
	
 
    	
 
    	
 
    
	
 
    	
9.
    	
“Each Outstanding Individual Loan Money” means the   principal, the interest, default interest, Break Funding Costs and any other   payment obligation that the Borrower owes pursuant to 
    

 

Agreement on Term Loan with Commitment Period for UBIC, Inc. as of September 27, 2011

 

 

	
 
    	
 
    	
this Agreement with respect to Each Individual Loan.
    
	
 
    	
 
    	
 
    
	
 
    	
10.
    	
“Lending Obligation” means a Lender’s obligation to   lend money to the Borrower as set forth in Article 2, paragraph 2.
    
	
 
    	
 
    	
 
    
	
 
    	
11.
    	
“Commitment Amount” means the amount set forth in   the column of the “Commitment Amount” of each Lender in Appendix 1 attached   to this Agreement (Notwithstanding this, if the amount has been changed   pursuant to the provisions of Article 2, paragraph 5, the amount which   has been changed.)
    
	
 
    	
 
    	
 
    
	
 
    	
12.
    	
“Loan Receivables” means the loan claim in relation   to Each Individual Loan (on and after the Individual Loan Integration Date,   Each Loan).
    
	
 
    	
 
    	
 
    
	
 
    	
13.
    	
“Exemption Period” means the period commencing on   the day (inclusive) the Borrower receives the notice under Article 8,   paragraph 1 and ending on the day (inclusive) it receives the notice under   Article 8, paragraph 2.
    
	
 
    	
 
    	
 
    
	
 
    	
14.
    	
“Exemption Event” means (i) an outbreak of a   natural disaster or war, (ii) an interruption or difficulty in the   electrical, communications or various settlement systems, (iii) any   event that occurs within the Tokyo Interbank Market that disables loans in   yen, and (iv) any other event not attributable to the Lenders that results   in the Majority Lenders (if it is difficult to clarify the intention of the   Majority Lenders, the Agent) determining that it is impossible to make the   Loan.
    
	
 
    	
 
    	
 
    
	
 
    	
15.
    	
“Drawdown Application” means an application in the   form set forth in Appendix 1 attached to this Agreement.
    
	
 
    	
 
    	
 
    
	
 
    	
16.
    	
“Base Term” means one month regarding the Interest   Calculation Period commencing on the Interest Payment Date and ending on the   Interest Payment Date, and regarding other Interest Calculation Periods,   means an Interest Calculation Period corresponding to the period indicated   for the Japanese Yen TIBOR (page 17,097 or the successive   pages thereof) published by the Japanese Bankers Association or if there   is no Interest Calculation Period corresponding to the period indicated for   the Japanese Yen TIBOR (page 17,097 or the successive   pages thereof) published by the Japanese Bankers Association and when   the Interest Calculation Period exceeds one week, the Base Term means the   period responding to the higher of, the rate at 11:00 a.m. of second   Business Day prior to the date commencing the Interest Calculation Period   responding to the shortest period exceeding the Interest Calculation Period   of the period indicated for the Japanese Yen TIBOR (page 17,097 or the   successive pages thereof) published by the Japanese Bankers Association,   or the rate at 11:00 or the rate indicated for the Japanese Yen TIBOR   (page 17,097 or the successive pages thereof) published by the   Japanese Bankers Association at the nearest possible time after 11:00 a.m.   or the rate indicated for the Japanese Yen TIBOR (page 17,097 or the   successive pages thereof) published by the Japanese Bankers Association   at the nearest possible time after 11:00 a.m. of the second Business Day   prior to 
    

 

 

	
 
    	
 
    	
the date commencing the Interest Calculation Period   responding to the longest period not exceeding the Interest Calculation   Period. If the Interest Calculation Period is one week or less, the Base Term   means one week.
    
	
 
    	
 
    	
 
    
	
 
    	
17.
    	
“Base Interest Rate” means the interest rate for the   relevant Base Term in relation to the Interest Calculation Period which is   the Japanese Yen TIBOR (page 17,097 the successive pages thereof)   published by the Japanese Bankers Association at 11:00 a.m. or at the   nearest possible time after 11:00 a.m. of the second Business Day or at   the latest time prior to the date commencing the Interest Calculation Period   in relation to each Interest Calculation Period. Provided, however, that if   such interest rate is not published for some reason, this rate shall be the   interest rate (indicated as an annual rate) that is reasonably decided upon   by the Agent as the offered rate applicable for a drawdown in yen for the   relevant Base Term in relation to the Interest Calculation Period in the   Tokyo Interbank Market as of 11:00 a.m. of the second Business Day prior   to the date commencing the Interest Calculation Period or at the latest time   prior to that time, and if there is no period corresponding to the Interest   Calculation Period for the Japanese Yen TIBOR (page 17,097 or the   successive pages thereof) published by the Japanese Bankers Association,   the Base Interest Rate (indicated as an annual rate) shall be the rate   reasonably determined by the Agent.
    
	
 
    	
 
    	
 
    
	
 
    	
18.
    	
“Principal Repayment Date During the Term” means   each day described in the column of the “Principal Repayment Date” in the   Repayment Schedule in Appendix 2 attached to this Agreement (excluding the   Maturity Date; if the date falls on the day other than the Business Day, the   following Business Day, if the following Business Day is included in the   following month, the previous Business Day).
    
	
 
    	
 
    	
 
    
	
 
    	
19.
    	
“Financial   Statements” means those set forth in the following (i) to (iv).

 

(i) Financial statements pertaining   to each fiscal year set forth in the Article 435, paragraph 2 of the   Companies Act (meaning the balance sheet and income statement set forth in   the same paragraph, and statements of changes of shareholders’ equity and   notes to financial statements set forth in Article 59, paragraph 1 of   the Ordinance on Accounting of Companies), and the business report.

 

(ii) Actually-prepared temporary   financial statements set forth in Article 441, paragraph 1 of the   Companies Act (meaning the balance sheet on the temporary account closing day   defined in the same paragraph and income statement for the period from the   first day of the fiscal year that includes the temporary account closing day   to the temporary account closing day).

 

(iii) Consolidated financial   statements and actually-prepared other consolidated financial statements   pertaining to each fiscal year set forth in Article 444, paragraph 1 of   the Companies Act in cases where the consolidated financial statements for   each fiscal year set forth in Article 444, paragraph 1 of the Companies   Act (meaning consolidated financial 
    

 

 

	
 
    	
 
    	
statements and income statement,   consolidated statements of changes of shareholders’ equity, and notes to   financial statements set forth in Article 61 of the Ordinance on   Accounting of Companies; hereinafter the same shall apply in this item (iii) )   shall be prepared pursuant to article 444, paragraph 3 of the Companies Act.

 

(iv) Actually-prepared consolidated   and nonconsolidated balance sheets, income statement, consolidated statements   of changes of shareholders’ equity, and notes to financial statements
    
	
 
    	
 
    	
 
    
	
 
    	
20.
    	
“Accounting Period” means the period from the day   (inclusive) on which the fiscal year of the Borrower begins to the day   (inclusive) on which the fiscal year ends.
    
	
 
    	
 
    	
 
    
	
 
    	
21.
    	
“Taxes and Public Charges” means all public taxes or   public charges including income taxes, corporate taxes and other taxes, which   are applicable in Japan.
    
	
 
    	
 
    	
 
    
	
 
    	
22.
    	
“Subsidiary” and “Affiliate” shall be as defined   under Article 8 of the Ordinance concerning terminology, forms and   method of preparation of financial statements, etc.
    
	
 
    	
 
    	
 
    
	
 
    	
23.
    	
“Individual Loan Integration Date” means the first   Interest Payment Date after the Commitment Due Date.
    
	
 
    	
 
    	
 
    
	
 
    	
24.
    	
“Commitment Period” means the period from the day   (inclusive) on which this Agreement is concluded to the day (inclusive) on   which Lending Obligations of all Lenders terminate.
    
	
 
    	
 
    	
 
    
	
 
    	
25.
    	
“Commitment Due Date” means September 26, 2012   (if the day falls on the day other than the Business day, the previous   Business Day).
    
	
 
    	
 
    	
 
    
	
 
    	
26.
    	
“Commitment Fee” means the commissions to be paid by   the Borrower to the Lender as consideration of Lending Obligations.
    
	
 
    	
 
    	
 
    
	
 
    	
27.
    	
“Commitment Fee Calculation Period” means the period   from the day (inclusive) on which this Agreement is concluded to   March 26 (inclusive), 2012 and the period from March 27   (inclusive), 2012 to the day which is deemed to be the day on which the   Commitment Period ends. Notwithstanding this, for any reason whatsoever, if   Lending Obligations terminate on a day prior to the Commitment Due Date, the   Commitment Fee Calculation Period pertaining to any of the said Lenders shall   end on the said day (inclusive) and a Commitment Fee Calculation Period after   the said Commitment Fee Calculation Period shall no longer exist.
    
	
 
    	
 
    	
 
    
	
 
    	
28.
    	
“Commitment Fee Rate” means 0.2 % per annum.
    
	
 
    	
 
    	
 
    
	
 
    	
29.
    	
“Commitment Ratio” means the percentage for each   Lender of the principal balance of Each Loan (on or before the Individual   Loan Integration Date, all of Each Individual Loan) by the Lender to the   principal balance of the Aggregate Loan of the Lender (on or before the   Individual Loan Integration Date, all of the Aggregate Individual Loans).   Notwithstanding this, until the day on which the Lending Obligations of all   Lenders terminate, the Commitment Ratio means the percentage of the   commitment amount of the said Lender to the Total Commitment Amount.
    
	
 
    	
 
    	
 
    
	
 
    	
30.
    	
“Desired Drawdown Date” means the Business Day   during the Commitment Period that the 
    

 

 

	
 
    	
 
    	
Borrower designates in the Drawdown Application as   the date on which the Borrower desires to draw down the Aggregate Individual   Loan.
    
	
 
    	
 
    	
 
    
	
 
    	
31.
    	
“Drawdown Date” means the date of the drawdown of   the Aggregate Individual Loan.
    
	
 
    	
 
    	
 
    
	
 
    	
32.
    	
“Due Time” means, if any Due Dates are provided for   herein, 10:30 a.m. of such Due Date.
    
	
 
    	
 
    	
 
    
	
 
    	
33.
    	
“Syndicate Account” means the ordinary deposit   (Account No. 2034628, Account Holder: UBIC, Inc.) held by the   Borrower at the Shinagawa-Ekimae Branch of The Bank of Tokyo-Mitsubishi   UFJ, Ltd., or the account at the Head Office or any of the branches of   The Bank of Tokyo-Mitsubishi UFJ, Ltd. opened by the Borrower and   approved by the Agent.
    
	
 
    	
 
    	
 
    
	
 
    	
34.
    	
“Spread” means 1.0% per annum.
    
	
 
    	
 
    	
 
    
	
 
    	
35.
    	
“Break Funding Cost” means, in cases where the   principal of Each Individual Loan (on or before the Individual Loan   Integration Date, all of Each Loan) is repaid or set off on the day other   than the Interest Payment Date and where the reinvestment rate falls below   the applicable interest rate, the amount calculated as the principal amount   with respect to which such repayment or set-off was made, multiplied by   (i) the difference between the reinvestment rate and the applicable   interest rate and (ii) the actual number of days of the remaining   period. Notwithstanding this, the said amount shall not violate Laws and   Ordinances. The “Remaining Period” means the period from the day on which   repayment or set-off is made to the next Interest Payment Date, and the   “Reinvestment Rate” means the interest rate reasonably determined by the   Lenders as the interest rate to be applied on the assumption that the repaid   or set off principal amount will be reinvested in the Tokyo Interbank Market   during the Remaining Period. The calculation method for such Break Funding   Cost shall be on a per diem basis, with inclusive of first day and exclusive   of last day, assuming that there are 365 days per year, wherein divisions   shall be done at the end of the calculation, and fractions less than one yen   shall be rounded down.
    
	
 
    	
 
    	
 
    
	
 
    	
36.
    	
“All Lenders” shall collectively mean all of Lenders   in the period prior to the first drawdown of the Aggregate Individual Loan,   and all of Lenders who have a right to claim payment of Each Outstanding   Individual Loan Money (on and after the Individual Loan Integration Date,   Each Outstanding Loan Money) in the period after the first drawdown of the Aggregate   Individual Loan.
    
	
 
    	
 
    	
 
    
	
 
    	
37.
    	
“Total Commitment Amount” means the total of the   maximum loan amount of all of Lenders.
    
	
 
    	
 
    	
 
    
	
 
    	
38.
    	
“Increased Costs” means the increased portion (the   amount reasonably calculated by such Lender) of lending expenses, in cases   where the Lender’s lending expenses under this Agreement are increased   (excluding any increase caused by a change in tax rates on taxable incomes of   such Lender) due to (i) any enactment, abolition or amendment of Laws   and Ordinances, or any change in the interpretation or application thereof,   (ii) establishment of or increase in capital reserves, or   (iii) changes in regulations or applications for accounting 
    

 

 

	
 
    	
 
    	
purpose.
    
	
 
    	
 
    	
 
    
	
 
    	
39.
    	
“Costs Increased Lender” means a Lender to whom   Increased Costs occur.
    
	
 
    	
 
    	
 
    
	
 
    	
40.
    	
“Total Unused Commitment Amount” means the total of   the maximum unused loan amount of All Lenders.
    
	
 
    	
 
    	
 
    
	
 
    	
41.
    	
“Majority Lender(s)” means one or more Lenders whose   Commitment Ratio(s) amount to 66.7% or more in total as of the Intention   Clarification Time. The “Intention Clarification Time” means, in cases where   the Lender determines that any event requiring instructions by the Majority   Lenders has occurred, the point in time when the Agent receives notice under   Article 26, paragraph 1, item (i), and in cases where the Agent   determines it necessary to clarify the intention of the Majority Lenders, the   point in time when the Agent gives notice under Article 26, paragraph 2.
    
	
 
    	
 
    	
 
    
	
 
    	
42.
    	
“Temporary Advancement Costs” means, in cases where   the Agent makes a Temporary Advancement, the amount calculated as the amount   of Temporary Advancement, multiplied by (i) the funding rate, and   (ii) the actual number of days of the Temporary Advancement period. The   “Temporary Advancement Period” means the period commencing on the date that a   Temporary Advancement is made by the Agent and ending on the date that the   amount pertaining to such Temporary Advancement is received by the Agent from   the Lender or the Borrower, and the “Funding Rate” means the interest rate that   the Agent reasonably determines as the interest rate to fund the amount of   Temporary Advancement through the Temporary Advancement period. The   calculation method for such Temporary Advancement Costs shall be on a per   diem basis, with inclusive of first day and exclusive of last day, assuming   that there are 365 days per year, wherein divisions shall be done at the end   of the calculation, and fractions less than one yen shall be rounded down.
    
	
 
    	
 
    	
 
    
	
 
    	
43.
    	
“Temporary Advancement” means, with respect to the   Borrower’s repayment on a Due Date, the payment made by the Agent to the   Lenders before the completion of the Borrower’s repayment of an amount   equivalent to the amount to be distributed to the Lenders in accordance with   paragraphs 1 to 5 of Article 18. The Borrower or the Lender shall not   make any objection as to the Agent’s making the Temporary Advancement.
    
	
 
    	
 
    	
 
    
	
 
    	
44.
    	
“Qualified Assignee” means the Lender on the date on   which this Agreement is concluded or the qualified institutional investor set   forth in Article 10, paragraph 1 of the Cabinet Office Ordinance in   relation to definitions set forth in Article 2 of the Financial   Instruments and Exchange Act.
    
	
 
    	
 
    	
 
    
	
 
    	
45.
    	
“Applicable Interest Rate” means the interest rate   equal to the Base Rate plus the Spread.
    
	
 
    	
 
    	
 
    
	
 
    	
46.
    	
“Due Date” means, with respect to the principal in   relation to the Aggregate Loan, the Principal Repayment Date During the Term   and the Maturity Date and with respect to interest in relation to the Loans,   each Interest Payment Date which is the ending day of each Interest 
    

 

 

	
 
    	
 
    	
Calculation Period. With respect to other amounts,   the date set forth as the date on which payments shall be made in accordance   with this Agreement.
    
	
 
    	
 
    	
 
    
	
 
    	
47.
    	
“Reports” means reports such as annual securities   reports, semiannual reports, quarterly reports, extraordinary reports, and   revision reports.
    
	
 
    	
 
    	
 
    
	
 
    	
48.
    	
“Laws and Ordinances” means the treaties, laws,   cabinet orders, ministerial ordinances, rules, announcements, judgments,   decisions, arbitral awards, directives, and policies of relevant authorities.
    
	
 
    	
 
    	
 
    
	
 
    	
49.
    	
“Aggregate Loan” means the aggregate of Each Loan.
    
	
 
    	
 
    	
 
    
	
 
    	
50.
    	
“Aggregate Individual Loan” means the aggregate of   Each Individual Loans drawn down by a Lender on the same Drawdown Date.
    
	
 
    	
 
    	
 
    
	
 
    	
51.
    	
“Maturity Date” means September 30, 2016 (if   such day falls on the day other than the Business Day, the following Business   Day, if the following Business Day is included in the following month, the   previous Business Day).
    
	
 
    	
 
    	
 
    
	
 
    	
52.
    	
“Unused Commitment Amount” means the amount calculated   as the Commitment Amount less the total principal amount of Each Individual   Loan for each Lender (including such Loans drawn down prior to the Due Date)   that has been drawn down.
    
	
 
    	
 
    	
 
    
	
 
    	
53.
    	
“Assignee” means the person who receives the   assignment of the Loan Receivables in accordance with Article 29,   paragraph 1.
    
	
 
    	
 
    	
 
    
	
 
    	
54.
    	
“Assignor” means the person who assigns the Loan   Receivables in accordance with Article 29, paragraph 1.
    
	
 
    	
 
    	
 
    
	
 
    	
55.
    	
“Interest Calculation Period,” for the first period,   means the period from the Drawdown Date of the Aggregate Individual Loan to   the first Interest Payment Date for each of the Aggregate Individual Loans   (on and after the Individual Loan Integration Date, each Aggregate Loan) and   for the second period and thereafter, the period from the latest Interest   Payment Date to the next Interest Payment Date.
    
	
 
    	
 
    	
 
    
	
 
    	
56.
    	
“Interest Payment Date” means the payment date of   interest and the last day of every month (excluding September 2011) of   the period from the day following the first Drawdown Date to the Maturity   Date, and the Maturity Date (if the said Interest Payment Date falls on the   day other than the Business Day, the said Interest Payment Date shall be the   following Business Day, and when such Business Day is included in the following   month, the said Interest Payment Date shall be the previous Business Day).
    
	
 
    	
 
    	
 
    
	
(2)
    	
The period of one month used in this   Agreement means the period in which the corresponding day of the initial date   to be calculated, which is included in the following calendar month of the   calendar month of the period, shall be the ending day (inclusive), with the   initial date to be calculated as a starting day (inclusive), and the period   of the months of integral multiple thereof shall also be calculated by the   same method (if the said corresponding day is not a Business Day, the   following
    

 

 

	
 
    	
Business   Day shall be the ending day of the said period, and if the said following   Business Day is included in the following calendar month, the precious   Business Day of the said corresponding day shall be the ending day of the   said period). Notwithstanding this, the initial date to be calculated falls   on the last Business Day of the calendar month, the ending day of the said   period shall be the last Business Day of the calendar month in which the said   corresponding day is included. In addition, if the corresponding day of the   initial date to be calculated is not included in the calendar month in which   the said period shall end, the last Business Day of the said calendar month   shall be the ending day of the said period.
    
	
 
    	
 
    
	
(3)
    	
The   period of one week used in this Agreement mean the period in which the same   day of the week as the initial date to be calculated in the following week   shall be the ending day (inclusive), with the initial date to be calculated   as a starting day (inclusive) (if the same day of the week is not a Business   Day, the following Business Day shall be the ending day of the said period   regardless of whether the following Business Day is included in the following   month).
    
	
 
    	
 
    
	
Article 2 (Rights and Obligations of Lenders)
    
	
 
    
	
(1)
    	
Unless   otherwise provided for in this Agreement, the Lender may exercise its rights   under this Agreement separately and independently.
    
	
 
    	
 
    
	
(2)
    	
The   Lender shall lend money up to the limit of the Commitment Amount.
    
	
 
    	
 
    
	
(3)
    	
Unless   otherwise provided for in this Agreement, the obligations of the Lender under   this Agreement are separate and independent, and the Lender shall not be   released from its obligations hereunder on the grounds that other Lenders do   not perform the said obligations. In addition, the Lender shall in no way   assume any responsibility for other Lenders’ nonperformance of the   obligations hereunder.
    
	
 
    	
 
    
	
(4)
    	
If   a Lender, in breach of its Lending Obligations, fails to make Each Individual   Loan on the Desired Drawdown Date in relation to the said Desired Drawdown   Date, such Lender shall, upon request by the Borrower, immediately compensate   the Borrower for all damages, losses and expenses incurred by the Borrower as   a result of such breach; provided, however, that the maximum amount of such   compensation to the Borrower for the damages, losses and expenses incurred   shall be the difference between (i) the interest and other expenses that   is required or would be required to be paid from the said Desired Drawdown   Date (inclusive) to the first Interest Payment Date (not inclusive) if the   Borrower separately makes a drawdown as a result of such Individual Loan’s   failure to be made on the Desired Drawdown Date, and (ii) the interest   and other expenses that would have been required to be paid from the said   Desired Drawdown Date (inclusive) to the first Interest Payment Date (not   inclusive) if the Individual Loan were made on the Desired Drawdown Date.
    
	
 
    	
 
    
	
(5)
    	
During   the Commitment Period, the Borrower may terminate all Lending Obligations by   giving a 10 Business Day prior notice to the Agent or reduce a portion of the   Total Commitment Amount within the amount less than the Total Unused   Commitment Amount. The amount in case of reducing a
    

 

 

	
 
    	
portion   of the Total Commitment Amount shall be 50 million yen or greater, with the   amount being the integral multiple of 50 million yen and less than the Total   Unused Commitment Amount. If a portion of the Total Commitment Amount is   reduced, the Commitment Amount of the Lender is reduced respectively in   proportion to the Commitment Ratio of such Lender at that time. When the   Agent receives the said notice from the Borrower, the Agent shall notify the   Lender to that effect without delay. The Borrower may not cancel the said   notice. The termination of all Lending Obligations or the reduction of a   portion of the Total Commitment Amount shall become effective on the desired   date of the said termination or reduction that is shown in the said notice.
    
	
 
    	
 
    
	
Article 3 (Purpose of Proceeds)
    
	
 
    
	
The   Borrower shall use the money raised by the Aggregate Individual Loan only as   business funds (excluding the use for acquisition). The Agent and each Lender   shall not be obliged to supervise and examine the actual purpose of the   Aggregate Individual Loan.
    
	
 
    
	
Article 4 (Application of Aggregate   Individual Loan)
    
	
 
    
	
(1)
    	
If   the Borrower desires to draw down the Aggregate Individual Loan, the Borrower   shall indicate to All Lenders its intention to apply for the Aggregate   Individual Loan by submitting the Drawdown Application to the Agent by noon   at least three Business Days prior to the Desired Drawdown Date. The Borrower   shall submit the Drawdown Application by facsimile and confirm the receipt of   the Agent by telephone.
    
	
 
    	
 
    
	
(2)
    	
The   amount of the Aggregate Individual Loan entered in the Drawdown Application   shall be 20 million yen or greater with the units of 10 million yen or the   Total Unused Commitment Amount. At the same time, Each Individual Loan   Drawdown amount for All Lenders shall be less than the Unused Commitment   Amount of the Lender on the Desired Drawdown Date shown in the Drawdown   Application.
    
	
 
    	
 
    
	
(3)
    	
The   number of drawdowns of the Aggregate Individual Loan on the same Desired   Drawdown Date shall be up to one drawdown.
    
	
 
    	
 
    
	
(4)
    	
The   indication of intention to apply for a drawdown of the Aggregate Individual   Loan pursuant to paragraph 1 shall be effective with respect to All Lenders   upon the Agent’s receiving the Drawdown Application. After the Agent receives   the Drawdown Application, the Borrower may not, for any reason, cancel or   change the application for the Aggregate Individual Loan under paragraph 1   with respect to any of the Lenders. When the Agent receives a Drawdown   Application from the Borrower, the Agent shall notify All Lenders of the   Borrower’s application for the Aggregate Individual Loan and the details   thereof, by sending a copy of the Drawdown Application to All Lenders at   least three Business days prior to the Desired Drawdown Date.
    

 

 

	
Article 5 (Conditions Precedent for Drawdown   of Each Individual Loan)
    
	
 
    
	
The   Lender shall draw down Each Individual Loan in relation to the said Desired   Drawdown Date upon the condition (irrespective of whether or not notice under   Article 7, paragraph 1 was given) that all conditions set forth in each   of the following items are satisfied on the Desired Drawdown Date. The   satisfaction of such conditions shall be determined individually by each   Lender, and no other Lender or the Agent shall be responsible for a Lender’s   determination or refusal to make Each Individual Loan.
    
	
 
    
	
 
    	
(i) The application for the Aggregate   Individual Loan satisfies the requirements set forth under paragraphs 1   through 3 of the preceding Article.

 

(ii) The Lending Obligations of All Lenders   have not been exempted pursuant to Article 8, paragraph 3.

 

(iii) All   the matters described in each item of items of Article 19 are true and   correct.

 

(iv) The Borrower has not breached any   provision of this Agreement and there is no threat that such breach may occur   on or after the relevant Desired Drawdown Date.

 

(v) The Borrower shall submit all of following   documents to the Agent on the conclusion date of this Agreement and the Agent   and All Landers shall satisfy the details thereof.

 

(a) A seal registration certificate of the   representative of the Borrower to which the name and seal are affixed (it shall   have been issued three months prior to the conclusion date of this Agreement)

 

(b) A certified copy of commercial   registration, a certificate of all present matters, or a certificate of total   historical records of the Borrower (it shall have been issued three months   prior to the conclusion date of this Agreement)

 

(c) A copy with a certificate of the original   Articles of Incorporation of the Borrower

 

(d) A seal and signature filed of the   Borrower in the form prescribed by the Agent

 

(e) A copy with a certificate of the   Borrower’s minutes of the board of directors meeting, an extract thereof, or   the Confirmation Statement (it shall be a document certifying that all   procedures required by Laws and Ordinances and internal company rules of   the Borrower on the conclusion of this Agreement and the borrowing under this   Agreement have been completed and contains a certificate of an authorized   officer or employee) prepared in the form set forth in Appendix 2 attached to   this Agreement, whereby the conclusion of this Agreement and the borrowing   under this Agreement are approved

 

(f) A copy of a document showing the outline   of capital expenditure projection in relation to the Purpose of Proceeds of   each Aggregate Individual Loan (including but not limited to a construction   contract and a construction plan)

 

(vi) The Landing Obligations of the said   Lender have not yet terminated pursuant to the provisions of this Agreement.
    

 

 

	
Article 6 (Drawdown of Aggregate Individual   Loan)
    
	
 
    
	
(1)
    	
If   a Lender receives an application for the Aggregate Individual Loan in   accordance with Article 4 and does not give notice pursuant to   Article 7, paragraph 1 and all conditions set forth in each item in the   preceding Article are satisfied on each Desired Drawdown Rate, the   Lender shall remit Each Individual Loan Drawdown Amount in relation to the   said Drawdown Date to the Syndicate Account on the Desired Drawdown Date (the   Lender shall complete the procedures to remit the amount to the Syndicate   Account by 11:00 a.m. of the said Desired Drawdown Date). Each   Individual Loan in relation to the said Desired Drawdown Date shall be deemed   to have been made by that Lender as of the time of the remittance of Each   Individual Loan Drawdown Amount in relation to the said Desired Drawdown Date   to the Syndicate Account.
    
	
 
    	
 
    
	
(2)
    	
If   the Aggregate Individual Loan is made pursuant to the preceding paragraph,   the Borrower shall immediately send to the Agent the Receipt in the form   shown in Appendix 3 attached to this Agreement or other receipts in the form designated   by the Agent describing the amount of the Aggregate Individual Loan and the   details of Each Individual Loan in relation to the Aggregate Individual Loan.   The Agent shall, upon receiving such receipt, promptly provide a copy thereof   to the Lender who made such Each Individual Loan. The Agent shall retain the   original receipt on behalf of that Lender until Each Outstanding Individual   Loan Money (on and after the Individual Loan Integration Date, Each   Outstanding Loan Money) in relation to Each Individual Loan is repaid in   full.
    
	
 
    	
 
    
	
Article 7 (Refusal to Make Each Individual   Loan)
    
	
 
    
	
(1)
    	
A   Lender who decides not to make Each Individual Loan for the reason that all   or part of the conditions under Article 5 are not satisfied (the   “Non-Drawdown Lender”) may notify the Agent, the Borrower and all other   Lenders of the decision with the reason affixed thereto by 5:00 p.m. of   the Business Day prior to the Desired Drawdown Date in relation to such   Individual Loan. Provided, however, that if, notwithstanding the satisfaction   of all the conditions under Article 5, such notice is given and such   Individual Loan is not made, the Non-Drawdown Lender may not be released from   liabilities arising from the breach of its Lending Obligations.
    
	
 
    	
 
    
	
(2)
    	
The   Borrower shall be responsible for any damages, losses or expenses incurred by   the Non-Drawdown Lender or the Agent as a result of the failure to make Each   Individual Loan by that Non-Drawdown Lender. Provided, however, that the   foregoing shall not apply if the failure to make such Individual Loan   constitutes a breach of the Non-Drawdown Lender’s Lending Obligations.
    
	
 
    	
 
    
	
Article 8 (Exemption of Lenders)
    
	
 
    
	
(1)
    	
If   an Exemption Event occurs with respect to a Lender, the Agent shall   immediately notify the Borrower and All Lenders of such event in writing.
    

 

 

 

	
(2)
    	
After   notice under the preceding paragraph is given, when the Majority Lenders (if   it is difficult to clarify the intention of the Majority Lenders, the Agent)   determine that such Exemption Event has been resolved, the Agent shall   immediately notify the Borrower and All Lenders that the Exemption Event has   been resolved.
    
	
 
    	
 
    
	
(3)
    	
All   Lenders shall be exempted from their Lending Obligations during the Exemption   Period.
    
	
 
    	
 
    
	
Article 9 (Increased Costs and Illegality)
    
	
 
    
	
(1)
    	
A   Costs Increased Lender may request the Borrower to bear the Increased Costs.   When such request is made, the Borrower shall pay the relevant Increased   Costs to the relevant Costs Increased Lender.
    
	
 
    	
 
    
	
(2)
    	
When   receiving the request set forth in the preceding paragraph, the Borrower may,   by notifying the Agent and All Lenders, terminate the Lending Obligations on   the day (the day shall be the day ten Business Day or more after the said   notice; hereinafter the “Lending Obligations Termination / Increased Costs   Desired Prepayment Date”) indicated in the said request if the Lending   Obligations of the said Costs Increased Lender have not terminated and may   prepay in full of the principal balance if the principal balance of Each   Individual Loan (on and after the Individual Loan Integration Date, Each   Loan) of the said Costs Increased Lender exists. In this case, if the Lending   Obligations of the Costs Increased Lender have not terminated and the   principal balance of Each Individual Loan of such Costs Increased Lender   exist, the Borrower may not be allowed to desire either the termination of   Lending Obligations of the said Costs Increased Lender or the prepayment of   the principal balance of the Costs Increased Lender’s Each Individual Loan.
    
	
 
    	
 
    
	
(3)
    	
When   the notice set forth in the first sentence of the paragraph 2 is given and   such notice notifies to the effect that the termination of Lending   Obligations is desired, the Lending Obligations of the said Costs Increased   Lender shall cease to be effective on the Lending Obligations Termination /   Increased Costs Desired Prepayment Date. In this case, the Borrower shall pay   to Costs Increased Lender pursuant to the provisions of Article 17, all   obligations (including the principal amount of Each Individual Loan (on and   after the Individual Loan Integration Date, Each Loan) whose Due Date arrives   in and after the day following the Lending Obligations Termination /   Increased Costs Desired Prepayment Date, the accrued interest in relation to   the said principal and the Break Funding Cost (if any) as well as the   Increased Costs requested to be paid) owed to the Costs Increased Lender   under this Agreement on the Lending Obligations Termination / Increased Costs   Desired Prepayment Date. Until the Borrower completes the performance of all   obligations owed to the Costs Increased Lender under this Agreement, as long   as the performance of such obligations is concerned, the relevant clauses of   this Agreement shall survive in full force and effect also in relation with   Costs Increased Lender.
    
	
 
    	
 
    
	
(4)
    	
If   the conclusion and the performance of this Agreement as well as transactions   thereunder become contrary to any Laws and Ordinances binding upon any   Lender, such Lender may, by notifying the 
    

 

 

	
 
    	
Borrower   via the Agent to that effect, (i) when the maintaining of the Lending   Obligation, a drawdown of Each individual Loan or funding for making Each   Individual Loan is deemed to be illegal, terminate the Lending Obligations of   the Lender as of the day preceding the day of such deemed illegality, and   (ii) when the maintaining of the Each Individual Loan (on and after the   Individual Loan Integration Date, Each Loan) already drawn down is deemed to   be illegal on or before the Due Date in relation to such Individual Loan (on   and after the Individual Integration Date, such Each Loan), request the   Borrower to pay the total amount of Each Outstanding Individual Loan Money   (on and after the Individual Loan Integration Date, Each Outstanding Loan   Money) of the said Each Individual Loan (on and after the Individual Loan   Integration Date, such Each Loan) by deeming the Due Date of the said Each   Individual Loan (on or after the Individual Loan Integration Date, such Each   Loan) to have arrived on the preceding day (if the due date to be paid is in   stipulated in Laws and Ordinances, the day stipulated in such Laws and   Ordinances) of such deemed illegality.
    
	
 
    	
 
    
	
Article 10 (Repayment of Principal)
    
	
 
    
	
(1)
    	
On   the Individual Loan Integration Date, all of Each Individual Loan by the   Lender shall be integrated into a single Loan (hereinafter, the “Each Loan”)   for each Lender.
    
	
 
    	
 
    
	
(2)
    	
The   Borrower shall, pursuant to the provisions set forth in Article 17, pay   the principal of the Aggregate Loan to All Lenders in relation to the   Aggregate Loan in accordance with the Repayment Schedule in Appendix 2   attached to this Agreement on each Principal Repayment Date During the Term   and the Maturity Date, with the amount (any fraction less than one yen shall   be rounded down, and the repayment amount of principal on the Maturity Date   shall be the amount of the principal amount of the Aggregate Loan less the   total repayment amount of the principal on each Principal Repayment Date   During the Term) for which the principal amount is equally divided into 48.   The amount to be repaid to the said Lender on the Principal Repayment Date   During the Term shall be the amount obtained by dividing the principal amount   of the Aggregate Loan to be repaid by the Borrower to All Lenders in relation   to the Aggregate Loan on the Principal Repayment Date During the Term in   accordance with the Commitment Ratio, and the amount to be repaid to each   Lender on the Maturity Date shall be remaining principal amount of Each Loan   of the said Lender on the Maturity Date.
    
	
 
    	
 
    
	
Article 11 (Interest)
    
	
 
    
	
(1)
    	
The   Borrower shall pay to each Lender on the Interest Payment Date, the ending   day of the Interest Calculation Period, in accordance with the provision of   Article 17, the total amount of interest calculated as the principal   amount of Each Individual Loan (on and after the Individual Loan Integration   Date, Each Loan) not repaid in relation to the Interest Calculation Period   during each Interest Calculation Period for each Lender, multiplied by   (i) the Applicable Interest Rate during the
    

 

 

	
 
    	
Interest   Calculation Period, and (ii) the actual number of days during the   Interest Calculation Period.
    
	
 
    	
 
    
	
(2)
    	
The   calculation method for interest in the preceding paragraph shall be on a per   diem basis, with inclusive of first day and exclusive of last day, assuming   that there are 365 days per year, wherein divisions shall be done at the end   of the calculation, and fractions less than one yen shall be rounded down.
    
	
 
    	
 
    
	
Article 12 (Prepayment)
    
	
 
    
	
(1)
    	
The   Borrower may not prepay all or any part of the principal of the Aggregate   Loan (on and after the Individual Loan Integration Date, the Aggregate   Individual Loan) to be paid on any Principal Repayment Date During the Term   or the Maturity Date (hereinafter, the “Prepayment) pursuant to   Article 10, before on such Principal Repayment Date During the Term or   the Maturity Date. Provided, however, that this shall not apply if the   Prepayment is made pursuant to Article 9, or if the Borrower, in   accordance with the procedures set forth in the following paragraphs, obtains   the prior written approval of All Lenders and the Agent.
    
	
 
    	
 
    
	
(2)
    	
If   the Borrower desires to make the Prepayment, the Borrower shall give a   written notice to the Agent at least 15 Business Days prior to the date the   Borrower desires to make the Prepayment (hereinafter, the “Desired Prepayment   Date”), stating (a) the principal amount (the amount shall be the total   amount of the principal balance of the Aggregate Individual Loan (on and   after the Individual Loan Integration Date, the Aggregate Loan) or 50 million   yen or greater with the units of 50 million yen. If the amount of the desired   Prepayment is not the total amount of the principal balance of the Aggregate   Individual Loan (on and after the Individual Loan Integration Date, the   Aggregate Loan), the said amount shall be prepaid to the said Lender in   proportion to the principal amount of Each Individual Loan (on and after the   Individual Loan Integration Date, Each Loan) in relation to the Aggregate   Individual Loan of the Lender), (b) a payment on the same day of all of   the interest accrued (hereinafter, the “Accrued Interest”) during the period   until the Desired Prepayment Date (inclusive) in respect to the desired   prepayment principal, and (c) the Desired Prepayment Date. The Agent   shall, immediately after the receipt of the notice from the Borrower shall   notify the All Lenders of the details of (a) through (c) in this   paragraph and the said Lender shall notify the Agent of whether or not it   approves such Prepayment at least 10 Business Days prior to the Desired Prepayment   Date. If such notice from the Lender does not reach the Agent at least 10   Business Days prior to the Desired Prepayment Date, it shall be deemed that   such Lender has not approved such Prepayment. The Agent shall determine the   approval or disapproval of the Prepayment, and notify the Borrower and the   Agent of the determination at least eight Business Days prior the Desired   Prepayment Date.
    
	
 
    	
 
    
	
(3)
    	
If   the Prepayment is approved in accordance with the preceding paragraph and   when the Desired Prepayment Date is a day other than the Interest Payment   Date, All Lenders shall notify the Borrower
    

 

 

	
 
    	
and   the Agent of the amount of the Break Funding Cost at least two Business Days   prior to the Desired Prepayment Date. The Borrower shall pay on the Desired   Prepayment Date, in accordance with the provisions set forth in   Article 17, the total of the principal, the Accrued Interest and the   Break Funding Cost (if any) in respect of the Aggregate Individual Loan (on   and after the Individual Loan Integration Date, the Aggregate Loan) to be   prepaid. Even if such prepayment is made, the Lending Obligations of each   Lender in respect to Each Individual Loan the Drawdown Date of which arrives   thereafter shall in no way be affected.
    
	
 
    	
 
    
	
(4)
    	
If   a portion of the principal of the Aggregate Loan is prepaid in accordance   with the provisions of this Article, the payment shall be applied in the   order of the principal the Due Date of which comes later, which is included   in the principal amount to be repaid to the Lender on each Principal Repayment   Date set forth in the Repayment Schedule shown in Appendix 2 attached to this   Agreement.
    
	
 
    	
 
    
	
Article 13 (Default Interest)
    
	
 
    
	
(1)
    	
If   the Borrower defaults in the performance of its obligations under this   Agreement owing to a Lender or the Agent, the Borrower shall, immediately   upon the Agent’s request and in accordance with Article 17, for the   period commencing on the Due Date (inclusive) of such defaulted obligation   (hereinafter in this Article, the “Defaulted Obligations”) and ending on the   day (inclusive) the Borrower performs all Defaulted Obligations, pay default   interest calculated by multiplying the amount of the Defaulted Obligations by   the rate of 14% % per annum (to the extent not in violation of Laws and   Ordinances).
    
	
 
    	
 
    
	
(2)
    	
The   calculation method for such default interest in the preceding paragraph shall   be on a per diem basis, with inclusive of first and last day, assuming that   there are 365 days per year, wherein divisions shall be done at the end of   the calculation, and fractions less than one yen shall be rounded down.
    
	
 
    	
 
    
	
Article 14 (Commitment Fee)
    
	
 
    
	
(1)
    	
The   Borrower shall pay to the Lender, for each Commitment Fee Calculation Period,   the Commitment Fee of the amount calculated by multiplying the average   balance of the Unused Commitment Amount in relation to such Lender during the   Commitment Fee Calculation Period by the Commitment Fee Rate on any day   within five Business Days from the ending day of the Commitment Fee   Calculation Period that the Agent notifies the Borrower and All Lenders. If   the Each Individual Loan is drawn down by the Lender or the Commitment Amount   pursuant to Article 2, paragraph 5 is changed, each Unused Commitment   Amount of the said Lender on the date of the said drawdown or change shall be   each Unused Commitment Amount that is changed due to such drawdown or change.   The calculation of the Commitment Fee under this Agreement by the Agent
    

 

 

	
 
    	
shall   be definite and binding unless there is a clear error.
    
	
 
    	
 
    
	
(2)
    	
Regardless   of the provisions of the preceding paragraph, if the Lending Obligations of   All Lenders are exempted pursuant to the provisions of Article 8,   paragraph 3, the Borrower shall assume no obligations to All Lenders to pay   the Commitment Fee for the Exemption Period.
    
	
 
    	
 
    
	
(3)
    	
Regardless   of the provisions of the paragraph of this Article, if the figure (shown in   percentage) calculated by using the calculation formula below for such   Commitment Fee Calculation Period on the ending day of any of the Commitment   Fee Calculation Period in relation to any of nonbank Lenders (meaning the   Lenders registered pursuant to Article 3, paragraph 1 of the Money   Lending Business Act; the same shall apply in this paragraph) exceeds 15% per   annum, the Borrower shall assume no obligation to such nonbank Lender to pay   the interest and the Commitment Fee for a portion exceeding 15% per annum.   The Agent shall assume no obligations to confirm whether the figure   calculated by using such calculation formula exceed 15% per annum. 

 

Calculation   formula: (Total of Commitment Fees to be paid to such nonbank Lender + Total   of interest and Break Funding Cost in respect to all of Each Individual Loan   in relation to such nonbank Lender) / (Total of average principal amount of   all of Each Individual Loan in relation to such nonbank Lender) × 365 /   (Actual number of days of Commitment Fee Calculation Period) (%)
    
	
 
    	
 
    
	
(4)
    	
The   calculation method for the Commitment Fee pursuant to paragraph 1 of this   Article shall be on a per diem basis, with inclusive of first and last   day, assuming that there are 365 days per year, wherein divisions shall be   done at the end of the calculation, and fractions less than one yen shall be   rounded down.
    
	
 
    	
 
    
	
Article 15 (Agent Fee)
    
	
 
    
	
The   Borrower shall pay the Agent Fee to the Agent as separately agreed between   the Borrower and the Agent, for the performance of the Agent Services set   forth in this Agreement.
    
	
 
    	
 
    
	
Article 16 (Expenses, Taxes and Public   Charges, and Break Funding Cost)
    
	
 
    
	
(1)
    	
All   expenses (including attorney’s fees) incurred in connection with the   preparation and any revision or amendment of this Agreement and any documents   related hereto, and all expenses (including attorney’s fees) incurred in   relation to the maintenance and enforcement of the rights or the performance   of the obligations by the Lender or the Agent pursuant to this Agreement and   documents related hereto shall be borne by the Borrower to the extent that it   is not in violation of Laws and Ordinances. If any Lender or the Agent has   paid these expenses in the place of the Borrower, the Borrower shall,   immediately upon the Agent’s request, pay the same in accordance with the   provision of Article 17.
    
	
 
    	
 
    
	
(2)
    	
The   stamp duties and any other similar Taxes and Public Charges incurred in   relation to the preparation, amendment or enforcement of this Agreement and   any documents related hereto shall be
    

 

 

	
 
    	
borne   by the Borrower. If any Lender or the Agent has paid these Taxes and Public   Charges in the place of the Borrower, the Borrower shall, immediately upon   the Agent’s request, pay the same in accordance with the provision of   Article 17.
    
	
 
    	
 
    
	
(3)
    	
If   the principal of Each Individual Loan (on and after the Individual Loan   Integration Date, Each Loan) of the Lender is repaid or set off on the day   other than the Interest Payment Date due to a reason not attributable to the   Lender, and when the Reinvestment Rate in relation to Each Individual Loan   (on and after the Individual Loan Integration Date, Each Loan) so repaid or   set off falls below the Applicable Rate for the Interest Calculation Period   in which the date of the said repayment or setoff in relation to the Each   Individual Loan (on and after the Individual Loan Integration Date, Each   Loan) is included, the Borrower shall, except the cases set forth separately   in this Agreement, pay to the said Lender the Break Funding Cost pertaining   to the said repayment or setoff on the same day as the date of the repayment   or setoff in accordance with the provisions of Article 17.
    
	
 
    	
 
    
	
Article 17 (Performance of Borrower’s   Obligations)
    
	
 
    
	
(1)
    	
In   order to repay the obligations under this Agreement, the Borrower shall,   without breaching Laws and Ordinances, transfer the relevant amount to the   Agent’s Account (i) by the Due Time, for those obligations the Due Date   of which is provided for herein, or (ii) immediately upon the Agent’s   request, for those obligations the Due Date of which is not provided for   herein. In such cases, the Borrower’s obligations to the Agent or a Lender   shall be deemed to have been performed upon the time of the transfer to the   Agent’s Account.
    
	
 
    	
 
    
	
(2)
    	
Unless   otherwise provided for in this Agreement, the Borrower may not pay directly   to a Lender other than the Agent the amounts owing under this Agreement   contrary to the preceding paragraph. The Lender received such payment shall   pay the money received to the Agent immediately, and the obligations with   respect to such money shall be deemed to have been performed upon the Agent’s   receipt of such money. The Borrower may not perform its obligations under   this Agreement by deed-in-lieu of performance (daibutsu bensai) unless the Agent and All Lenders give   their prior written approval.
    
	
 
    	
 
    
	
(3)
    	
The   Borrower’s payments pursuant to this Agreement shall be applied in the order   set forth below:

 

(i) those expenses to be borne by the Borrower under this   Agreement, which the Agent has incurred in the place of the Borrower, and the   Agent Fee and the default interest related thereto,

 

(ii) those expenses to be borne by the Borrower under this   Agreement, payable to a third party,

 

(iii) those expenses to be borne by the Borrower under this   Agreement, which any Lender has incurred in place of the Borrower and default   interest related thereto,

 

(iv) the default interest (excluding the default interest set   forth in items 1 and 3 of this paragraph) and the Break Funding Cost,
    

 

 

	
 
    	
(v) the Commitment Fee

 

(vi) the interest on the Aggregate Individual   Loan (on and after the Individual Loan Integration Date, the Aggregate Loan)

 

(vii) the principal of the Aggregate   Individual Loan (on and after the Individual Loan Integration Date, the   Aggregate Loan)
    
	
 
    	
 
    
	
(4)
    	
Upon   the application under the preceding paragraph, if the amount to be applied   falls short of the amount outlined in any of the items thereunder, with   respect to the first item not fully covered (the “Item Not Fully Covered”), the   remaining amount, after the application to the item of the next highest order   of priority, shall be applied after the proration in proportion to the amount   of the individual payment obligations owed by the Borrower in respect to the   Item Not Fully Covered, which the Due Date has arrived.
    
	
 
    	
 
    
	
(5)
    	
Unless   otherwise required by Laws and Ordinances, the Borrower shall not deduct   Taxes and Public Charges from the amount of obligations to be paid pursuant   to this Agreement. If it is necessary to deduct Taxes and Public Charges from   the amount payable by the Borrower, the Borrower shall additionally pay the   amount necessary in order for the Lender or the Agent to be able to receive   the amount that it would receive if no Taxes and Public Charges were imposed.   In such cases, the Borrower shall, within thirty days from the date of   payment, directly send to the Lender or the Agent the certificate of tax   payment in relation to withholding taxes issued by the tax authorities or   other competent governmental authorities in Japan.
    
	
 
    	
 
    
	
Article 18 (Distribution to Lenders)
    
	
 
    
	
(1)
    	
If   there still exist any remaining amounts after deducting the amount equivalent   to the amount described in paragraph 3, items (i) and (ii) of the   preceding Article from the amount received pursuant to the preceding   paragraph, the Agent shall immediately distribute such remaining amount to   the Lenders in accordance with the provisions of this Article 18.
    
	
 
    	
 
    
	
(2)
    	
If, prior to distribution by the Agent to the   Lenders pursuant to this Article 18, (a) an order for provisional   attachment (kari-sashiosae),   preservative attachment (hozen-sashiosae)   or attachment (sashiosae) in   relation to the Loan Receivables is served on the Borrower, (b) an   assignment in relation to the Loan Receivables is made, or (c) repayment is   made by a third party, the rights and obligations of the Borrower, the Agent   and the Lenders shall be regulated in accordance with the following   provisions:
    
	
 
    	
 
    
	
 
    	
(a)
    	
(i) If the Agent completes the distribution   to the Lenders pursuant to this Article 18 before receiving notice from   the Borrower pursuant to Article 20, paragraph 5 that it has received   service of an order for provisional attachment (kari-sashiosae), preservative attachment (hozen-sashiosae) or attachment (sashiosae) with respect to the Loan   Receivables:

 

In this case, even if the creditor obtaining an order for provisional   attachment
    

 

 

	
 
    	
 
    	
(kari-sashiosae),   preservative attachment (hozen-sashiosae)   or attachment (sashiosae), the   Borrower, the Lenders or any other third party suffers damages, losses or   expenses (the hereinafter in this Article, the “Damages”) as a result of such   distribution by the Agent, the Agent shall not be liable in relation thereto,   and the Borrower shall deal with them at its own cost and liability. The   Borrower shall compensate the Agent for any Damages incurred by the Agent due   to such distribution.

 

(ii) If the Agent, before the completion of the   distributions to the Lenders pursuant to this Article 18 after the   performance of obligations by the borrower pursuant to the provisions of   paragraphs 1 and 2 of the preceding Article, receives notice from the   Borrower pursuant to Article 20, paragraph 5 that it has received   service of an order for provisional attachment (kari-sashiosae), preservative attachment (hozen-sashiosae) or attachment (sashiosae) with respect to the Loan   Receivables for which such distribution is made:

 

In this case,   (i) with respect to the money relating to such notice, the Agent may   withhold the distributions pursuant to this Article 18, and may take   other measures in the manner that the Agent deems reasonable; and   (ii) the Agent shall distribute the money paid by the Borrower excluding   those subject to such notice in accordance with the application method set   forth in paragraphs 3 and 4 of the preceding Article. If the creditor   obtaining an order for provisional attachment (kari-sashiosae), preservative attachment (hozen-sashiosae) or attachment (sashiosae), the Borrower, the Lenders or   any other third party suffers any Damages as a result of the measures taken   pursuant to this item (i) or the distribution by the Agent pursuant to   this item (ii), the Agent shall not be liable in relation thereto, and the   Borrower shall deal with them at its own cost and liability. The Borrower   shall compensate the Agent for any Damages incurred by the Agent due to such   measures for distribution or such distribution.

 

(iii) If the   Agent receives notice from the Borrower pursuant to Article 20,   paragraph 5 that it has received service of an order for provisional attachment   (kari-sashiosae), preservative   attachment (hozen-sashiosae) or   attachment (sashiosae) before   the performance of obligations by the Borrower pursuant to paragraphs 1 and 2   of the preceding Article:

 

In this case, the Agent shall make a   distribution pursuant to the methods set forth in paragraphs 3 and 4 of the   preceding Article by deeming that the receivables pertaining to the said   notice do not exist. If the creditor obtaining an order for provisional   attachment (kari-sashiosae),   preservative attachment (hozen-sashiosae)   or attachment (sashiosae), the   Borrower, the Lenders or any other third party suffers any Damages as a   result of the distribution by the Agent, the Agent shall not be liable in   relation thereto, and the Borrower shall deal with them at its own cost and   liability. The Borrower shall compensate the Agent for any Damages incurred   by the Agent due to such distribution.
    

 

 

	
 
    	
(b)
    	
If   the Assignor and the Assignee, under joint names, notify the Agent of an   assignment of the Loan Receivables in accordance with Article 29,   paragraph 1. If the Loan Receivables are assigned pursuant to the provisions   of Article 29, this item shall apply with replacing the Assignor with   the Assigning Lender and the Assignee with the Successive Lender: 

 

In   this case, the Agent shall, after receiving such notice, immediately commence   all administrative procedures necessary in order to treat such Assignee as   the creditor of such Loan Receivables, and the Agent shall be exempt insofar   as the Agent treats the previous Lender as the party in interest until the   Agent notifies the Borrower, the Assignor and the Assignee that such   procedures have been completed. If the Assignee or any other third party   suffers Damages due to such treatment by the Agent, the Agent shall not be   liable in relation thereto, and the Borrower and the Assignor of such Loan   Receivables shall deal with them at their own cost and liability. The   Borrower and the Assignor of such Loan Receivables shall jointly compensate   the Agent for any Damages incurred by the Agent arising out of this item (b).
    
	
 
    	
 
    	
 
    
	
 
    	
(c)
    	
If   the third party who repaid pursuant to Article 30, paragraph 2 and the   Lender who received such repayment, under joint names, or if the Borrower,   under its single name, notifies the Agent of the repayment by the third party   pursuant to Article 30, paragraph 2:

 

In   this case, the Agent shall, after receiving either of such notices,   immediately commence all administrative procedures necessary in order to   treat a right of recourse and receivables by subrogation obtained by the said   third party as the Loan Receivables, and the Agent shall be exempt if the   Agent treats such repayment by the third party as not having been made until   the Agent notifies the Borrower, the third party and the Lender who received   the repayment by the third party that such procedures have been completed. 

 

If   such third party or any other third party suffers Damages due to such   treatment by the Agent, the Agent shall not be liable in relation thereto,   and the Borrower and the Lender who received the repayment by the third party   shall deal with them at their own cost and liability. The Borrower and the   Lender who received the repayment by the third party shall jointly compensate   the Agent for any Damages incurred by the Agent arising out of this item (c).
    
	
 
    	
 
    	
 
    
	
(3)
    	
The   distributions by the Agent to the Lenders shall be made in order, starting   from paragraphs 3, items (iii) to (vii) of the preceding Article.   If there is an Item Not Fully Covered in respect to the amounts to be distributed,   the application and distribution with respect to such Item Not Fully Covered   shall be made in accordance with the provisions of paragraph 4 of the   preceding Article. In this case, each Lender may, regardless of the   provisions of paragraphs 3 and 4 of the preceding Article, at its discretion,   determine the order and the method for the application to Borrower’s   repayment of obligations to such Lender in respect to the amount so   distributed, and the Borrower may not make an objection to such determination.   Notwithstanding this, even if any of Lenders made
    

 

 

	
 
    	
an   application to repayment in an order different from the order set forth in   the provisions of paragraphs 3 and 4 of the preceding Article, the Agent may   deem that such Lender has made an application in accordance with the   provisions of paragraphs 3 and 4 of the preceding Article, and thereafter the   Agent may make a distribution to each Lender on the assumption that all of   Lenders made an application in accordance with the provisions of paragraphs 3   and 4 of the preceding Article, and insofar as the Agent makes such   distribution, the Agent shall not assume any liability even if the   distributed amount is different from the amount of the application by the   Lender.
    
	
 
    	
 
    
	
(4)
    	
If   the remittance set forth in paragraph 1 of the preceding Article is made   later than the Due Time, the Agent shall not assume an obligation to make the   distribution set forth in paragraph 1 during the day. In this case, the Agent   shall make a distribution immediately after receiving the remittance, and the   Damages incurred by the Lender or the Agent due to such distribution shall be   borne by the Borrower.
    
	
 
    	
 
    
	
(5)
    	
Upon   request from the Agent, and if such request is based on a reasonable cause,   the Lenders receiving such request shall immediately notify the Agent of the   amount (including specifics) of the receivables they hold against the   Borrower under this Agreement. In this case, the obligation of the Agent to   make distributions set forth in paragraph 1 shall arise at the time all such   notices reach the Agent. In the case where a Lender delays this notice   without reasonable cause, such Lender shall bear any Damages incurred by any   Lender or the Agent due to such delay.
    
	
 
    	
 
    
	
(6)
    	
The   Agent may make a distribution to the Lender by the Temporary Advancement (but   no obligations). The Temporary Advancement does not mean the performance of   Borrower’s obligations. If the Temporary Advancement is made, and when the   Borrower does not perform the obligations pertaining to such Temporary   Advancement by the Due Time, the Lender who received the distribution   pursuant to this paragraph shall, immediately upon the Agent’s request,   reimburse to the Agent the amount of such Temporary Advancement that it   received. The Lender shall, immediately upon the Agent’s request, pay to the   Agent any Temporary Advancement Costs required in making such Temporary   Advancement, per the amount of Temporary Advancement that it received. If the   Lender pays the Temporary Advancement Costs to the Agent, the Borrower shall   compensate the Agent for the Temporary Advancement Costs. If the Agent has   completed procedures for the Temporary Advancement of the distribution to the   Lender before receiving notice from the Borrower pursuant to Article 20,   paragraph 5 that it has received service of an order for provisional   attachment (kari-sashiosae),   preservative attachment (hozen-sashiosae)   or attachment (sashiosae) with   respect to the Loan Receivables for which such distribution is made, if the creditor obtaining an order for provisional   attachment (kari-sashiosae),   preservative attachment (hozen-sashiosae)   or attachment (sashiosae), the   Borrower, the Lenders or any other third party suffers any Damages as a   result of the distribution by the Agent, the Agent shall not be liable in   relation thereto, and the Borrower shall deal with them at its own cost and   liability. If the Agent suffers any Damages 
    

 

 

	
 
    	
(including, but not limited to, the money not   reimbursed or not paid in case of the non-reimbursement or non-payment of the   money to be reimbursed or to be paid to the Agent by the Lender set forth in   the third sentence and fourth sentence of this paragraph) as a result of the   Temporary Advancement of the distribution, the Borrower shall make   compensation.
    
	
 
    	
 
    
	
Article 19 (Borrower’s Representations and   Warranties)
    
	
 
    
	
The   Borrower represents and warrants to a Lender and the Agent that each of the   following items is true and correct as of the execution date of this   Agreement and each Drawdown Date.:
    
	
 
    
	
 
    	
(i)
    	
The   Borrower is a stock company duly incorporated and validly existing under the   laws of Japan.
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
The   execution and performance of this Agreement by the Borrower and any   transactions associated herewith are within the corporate purposes of the   Borrower and the Borrower has duly completed all procedures necessary   therefor under the Laws and Ordinances, the Articles of Incorporation and   other internal company rules of the Borrower.
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
The   execution and performance of this Agreement by the Borrower and any   transactions associated herewith does not result in (a) any violation of   Laws and Ordinances which bind the Borrower, (b) any breach of its   Articles of Incorporation and other internal company rules of the   Borrower, and (c) any breach of a third-party contract to which the Borrower   is a party or which binds the Borrower or the assets of the Borrower.
    
	
 
    	
 
    	
 
    
	
 
    	
(iv)
    	
The   person representing the Borrower who signed or attached his/her name and seal   to this Agreement is authorized to sign or attach his/her name and seal to   this Agreement as the representative of the Borrower by all procedures   necessary pursuant to the Laws and Ordinances, Articles of Incorporation or   other internal company rules of the Borrower.
    
	
 
    	
 
    	
 
    
	
 
    	
(v)
    	
This   Agreement constitutes legal, valid and binding obligations of the Borrower,   and is enforceable against the Borrower in the performance of this Agreement   in accordance with the provisions of this Agreement.
    
	
 
    	
 
    	
 
    
	
 
    	
(vi)
    	
The   Financial Statements (if an audit is obliged to be conducted on such   Financial Statements pursuant to the Laws and Ordinances and other audits are   conducted, the audited Financial Statements) (if the Borrower prepares the   Reports, the Reports) prepared by the Borrower are accurately and duly   prepared in accordance with the accounting standards which is generally   accepted as fair and appropriate one in Japan.
    
	
 
    	
 
    	
 
    
	
 
    	
(vii)
    	
No   material change, which may materially affect the performance of obligations   by the Borrower under this Agreement in respect to information provided by   the Borrower to the Agent or the Lender in relation to this Agreement, has   occurred, and after the last day of the Accounting Period ended   March 2011, no material change, which may cause a deterioration of the   business, assets, or financial condition of the Borrower described in the   Financial 
    

 

 

	
 
    	
 
    	
Statements   (if an audit is obliged to be conducted on such Financial Statements pursuant   to the Laws and Ordinances and other audits are conducted, the audited   Financial Statements) (if the Borrower prepares the Reports, the Reports) prepared   by the Borrower for such Accounting Period and the accounting documents and   which may materially affect the performance of the obligations of the   Borrower under this Agreement, has occurred.
    
	
 
    	
 
    	
 
    
	
 
    	
(viii)
    	
No   lawsuit, arbitration, administrative procedure, or any other dispute has   commenced or is likely to commence with respect to the Borrower, which will   or may materially cause adverse effects on the performance of its obligations   under this Agreement.
    
	
 
    	
 
    	
 
    
	
 
    	
(ix)
    	
No   event set forth in items of paragraph 1 or 2 of Article 21, nor an event   constituting such an event due to notices or the passage of time or due to   the both, has occurred or is likely to occur.
    
	
 
    	
 
    	
 
    
	
 
    	
(x)
    	
The   Borrower shall not fall under any of the following (a) through (h).
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(a) An organized crime group (boryokudan) (meaning a group the   members (including the members of the member group of such group) of which   may promote violent and unlawful acts, etc. collectively or habitually;   the same shall apply hereinafter in this item)

 

(b) An organized crime group member (meaning   a member constituting an organized group; the same shall apply hereinafter in   this item)

 

(c) A quasi member of an organized crime   group (meaning a person who has a relation with organized crime groups other   than the member of an organized crime group and may conduct violent and   unlawful acts, etc. on the back of the force of an organized crime   group, or a person who cooperates in or is involved with the maintenance or   operation of an organized crime group for example by providing funds or   weapons, etc. to an organized crime group member; the same shall apply   hereinafter in this item)

 

(d) An organized crime group related   enterprise (meaning an enterprise where an organized crime group member is   actually involved with its management, or an enterprise managed by the quasi   member of an organized crime group or a former organized crime group member,   which is actively cooperates in or is involved with the maintenance or   operation of the organized crime group for example by providing funds or   weapons, etc. to an organized crime group, or an enterprise that   actively uses an organized crime group and cooperates in the maintenance or   operation of the organized crime group such as in the execution of its   business)

 

(e) A corporate racketeer (soukaiya), etc. (meaning a   corporate racketeer or a corporate ruffian, etc. who may conduct violent   and unlawful acts, etc. in pursuit of illegal interest targeting at   enterprises, etc. and poses a threat to the security of civilian life)

 

(f) A ruffian calling for a social movement   (meaning one which conducts a false social movement or political activity or   calls for it, and may conduct violent and unlawful acts,
    

 

 

	
 
    	
 
    	
etc. in pursuit of illegal interest targeting at   enterprises, etc., thereby posing a threat to the security of civilian   life)

 

(g) Special intellectual violent   group, etc. (meaning a group or an individual person, other than those   listed in above (a) through (f), who uses the force of an organized   crime group on the back of a relation with the organized crime group, or has   a financial relation with  an organized   crime group and is a core of structural unjust acts

 

(h) Those   equivalent to those listed in above (a) through (g)
    
	
 
    	
 
    	
 
    
	
Article 20 (Borrower’s Covenants)
    
	
 
    
	
(1)
    	
The   Borrower covenants to perform, at its expense, the matters described in each   of the following items on and after the date of this Agreement, and until the   Borrower completes the performance of all of its obligations under this   Agreement to each Lender and the Agent.
    
	
 
    	
 
    
	
 
    	
(i) If any event set forth in each item of   paragraph 1 or 2 of Article 21, or an event constituting such an event   due to notices or the passage of time or due to the both has occurred, or is   likely to occur, the Borrower shall immediately notify the Agent and All   Lenders thereof.

 

(ii) If the Borrower prepares the Financial   Statements, the Borrower shall immediately submit to the Agent and All   Lenders a copy of such Financial Statements, and the documents in the form   shown in Appendix 4 attached to this Agreement that could confirm the   compliance of matters set forth in paragraph 4 if such Financial Statements   are those pertaining to the Accounting Period of the Borrower.   Notwithstanding this, If the Borrower prepares the Reports, the Borrower   shall, upon submitting the same to the head of the competent Financial   Bureau, immediately submit a copy of such Reports to the Agent and All   Lenders in place of a copy of the Financial Statements. If the Borrower   discloses the Reports electronically by the Electronic Disclosure System (the   Electronic Data Processing System for Disclosure set forth in   Article 27, 30-2 of the Financial Instruments and Exchange Act) (EDINET)   related to disclosure documents of the annual securities reports under the   Financial Instruments and Exchange Act, such copy shall be deemed to have   been submitted at the time the Borrower has notified the Agent and All   Lenders of the disclosure. If the Agent or any of Lenders requests the   Borrower to submit a copy of the Reports, the Borrower shall immediately   submit a copy of such Reports to the Agent and the Lender. If such Financial   Statements (if the Borrower prepares the Reports, the Reports) are prepared,   such documents shall be prepared accurately and legally in light of the   accounting standards which is generally accepted as fair and appropriate one   in Japan.

 

(iii) If the Borrower prepares the Financial   Statements or the Reports for the Accounting Periods ending on and after the   day of the execution of this Agreement, the Borrower shall immediately submit   to the Agent and All Lenders the documents in the form shown in Appendix 5   attached to this Agreement that could confirm the compliance of matters set   forth in paragraph 1 of Article 30.
    

 

 

	
 
    	
(iv) Upon a request made by the Agent or a Lender   through the Agent, the Borrower shall immediately notify the Agent and All   Lenders of the conditions of the assets, management, or businesses of the   Borrower and its Subsidiaries and Affiliates, and shall provide the necessary   assistance to facilitate the investigations thereof.
    
	
 
    	
 
    
	
 
    	
(v) If any material change has occurred, or   is likely to occur by the passage of time, to the conditions of the assets,   management, or businesses of the Borrower or its Subsidiaries and Affiliates,   or if any lawsuit, arbitration, administrative procedure, or any other   dispute, which will materially affect, or is likely to materially affect, the   performance of the obligations of the Borrower under this Agreement, has   commenced, or is likely to commence, the Borrower shall immediately notify   the Agent and All Lenders thereof.

 

(vi) If the Borrower, its Subsidiaries or its   Affiliates change their organization (having the meaning defined in   Article 2, item 26 of the Companies Act; the same shall apply   hereinafter in this item), or if the Borrower, its Subsidiaries or its   Affiliates make a revision of the Articles of Incorporation that any of   organizations set forth in Article 326, paragraph 2 of the Companies Act   is newly established or not be established, the Borrower, its Subsidiaries or   its Affiliates shall notify the Agent and All Lenders to that effect no later   than 15 Business Days prior to the change of organization or the revision of   the Articles of Incorporation.

 

(vii) If any of the items described in the   preceding Article is found untrue, the Borrower shall immediately notify   the Agent and All Lenders thereof.
    
	
 
    	
 
    
	
(2)
    	
If   the Majority Lenders determine that it is necessary to preserve receivables   from the Borrower under this Agreement and request in writing the Borrower to   preserve such receivables through the Agent, the Borrower shall ensure to   immediately offer security interest on Borrower’s assets designated by the   Majority Lenders and the Agent by making such assets secured receivables   under this Agreement owed by the Borrower to All Lenders and the Agent, in   the form and the contents satisfactory to the Majority Lenders and the Agent   with the same priority as each Lender and the Agent. 
    
	
 
    	
 
    
	
(3)
    	
The   Borrower shall, on and after the execution date of this Agreement, and until   the Borrower completes the performance of all of its obligations under this   Agreement to the Lender and the Agent, ensure to be in compliance with   matters described in the items below:
    
	
 
    	
 
    
	
 
    	
(i)
    	
The   Borrower will maintain licenses and other similar permits that are necessary   to conduct the Borrower’s main business, and continue to carry out the   business in compliance with all Laws and Ordinances.
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
The   Borrower will not change its main business.
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
The   Borrower will not, unless otherwise specified in the Laws and Ordinances,   subordinate the payment of any of its debts under this Agreement to the   payment of any unsecured and non-subordinate debts (including any secured   debts that will not be fully collected after the 
    

 

 

	
 
    	
 
    	
foreclosure   sale of the security), or at least will treat them equally.
    
	
 
    	
 
    	
 
    
	
 
    	
(iv)
    	
Unless   there is an approval of the Agent and All Lenders, the Borrower will not   enter into any merger, company split, exchange or transfer of shares of the   Borrower or the Borrower’s Subsidiaries, which will or may have a material   effect on the performance of the Borrower’s obligations under this Agreement,   assign (including an assignment for a sale and leaseback transaction) all or   a part of the business or assets of the same to a third party, reduce the   capita of the same, or succeed to all or a part of the material business or   assets of a third party.
    
	
 
    	
 
    	
 
    
	
 
    	
(v)
    	
The   Borrower shall not fall under any of item 10, (a) through (h) of   Article 19.
    
	
 
    	
 
    	
 
    
	
 
    	
(vi)
    	
The   Borrower shall not conduct any act falling under any of the following   (a) through (e) by using itself or a third party.

 

(a) Violent   demands

 

(b) Unlawful   demands beyond legal liability

 

(c) Any   act using threatening words and actions or violence in relation to a   transaction

 

(d) Any act that is detrimental to the   credibility of the Lender or the Agent by spreading rumors or using   fraudulent means or force, or any act that interferes the business of the   Lander or the Agent

 

(e) Other acts similar to above   (a) through (d)
    
	
 
    	
 
    	
 
    
	
(4)
    	
(i)
    	
The   Borrower shall ensure to maintain the amount of net assets of its   nonconsolidated balance sheet as of the last day of the Accounting Period of   its each fiscal year, at the amount of 75% or the greater of the amount of   net assets as of the last day of the latest Accounting Period of such   Accounting Period and the amount of the net assets of its nonconsolidated   balance sheet as of the last day of the Accounting Period ended   March 2011.
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
The   Borrower shall ensure to maintain the amount of net assets of its   consolidated balance sheet as of the last day of the Accounting Period of its   each fiscal year, at the amount of 75% or the greater of the amount of the   net assets as of the last day of the latest Accounting Period of such   Accounting Period and the amount of the net assets of its consolidated   balance sheet as of the last day of the Accounting Period ended   March 2011.
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
The   Borrower shall ensure that it does not post a recurring loss for the second   consecutive fiscal year in relation to the recurring profit/loss of its   nonconsolidated balance sheet for the Accounting Period of its each fiscal   year. 
    
	
 
    	
 
    	
 
    
	
 
    	
(iv)
    	
The   Borrower shall ensure that it does not post a recurring loss for the second   consecutive fiscal year in relation to the recurring profit/loss of its   consolidated balance sheet for the Accounting Period of its each fiscal year.
    
	
 
    	
 
    	
 
    
	
(5)
    	
If   the Borrower received service of an order for provisional attachment (kari-sashiosae), preservative attachment   (hozen-sashiosae) or attachment   (sashiosae) in relation to the   Lending Obligations, it shall immediately notify All Lenders to that effect   in writing along with a copy of such order.
    

 

 

	
Article 21 (Acceleration)
    
	
 
    
	
(1)
    	
If   any of the events described in the items below has occurred with respect to   the Borrower, all of the Borrower’s debts under this Agreement payable to All   Lenders and the Agent shall automatically become due and payable without any   notice or demand by a Lender or the Agent, and the Borrower shall immediately   pay the principal of the Aggregate Individual Loan (on and after the   Individual Loan Integration Date, the Aggregate Loan) and the interest and   Break Funding Costs and any other payment obligation that the Borrower owes   pursuant to this Agreement in accordance with the provisions of   Article 17, whereby All Lenders’ Lending Obligations shall cease to be   effective:
    
	
 
    	
 
    
	
 
    	
(i)
    	
If   any payment by the Borrower has been suspended, or if a petition (including   similar petition filed outside Japan) of commencement of bankruptcy (hasan) procedures, commencement of civil   rehabilitation procedures (minjisaiseitetuzuki-kaishi),   commencement of corporate reorganization procedures (kaishakoseitetuzuki-kaishi),   commencement of special liquidation (tokubetuseisan-kaishi),   or commencement of any other similar legal procedures against the Borrower is   submitted, or these procedures are commenced;
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
If   the resolution for dissolution is adopted or the Borrower receives order of   dissolution (excluding the dissolution as a result of an absorption-type   merger or an incorporation-type merger);
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
If   the Borrower abolishes its business;
    
	
 
    	
 
    	
 
    
	
 
    	
(iv)
    	
If   transactions of the Borrower have been suspended by a clearinghouse; or
    
	
 
    	
 
    	
 
    
	
 
    	
(v)
    	
If   any order or notice of provisional attachment (kari-sashiosae), preservative attachment (hozen-sashiosae), or attachment (sashiosae) (including any similar   procedure taken outside Japan) has been sent out, or if any lawsuit that   orders an enforcement of preservative attachment (hozen-sashiosae) or attachment (sashiosae) has been filed, with respect to the deposit   receivables or other receivables held by the Borrower against a Lender.
    
	
 
    	
 
    	
 
    
	
(2)
    	
If   any of the events described in the items below has occurred with respect to   the Borrower, all of the Borrower’s debts under this Agreement payable to All   Lenders and the Agent shall become due and payable upon notice to the   Borrower from the Agent, after request by a Majority Lender, and the Borrower   shall immediately pay the principal of the Aggregate Individual Loan (on and   after the Individual Loan Integration Date, the Aggregate Loan) and the   interest and Break Funding Costs and any other payment obligation that the   Borrower owes pursuant to this Agreement in accordance with the provisions of   Article 17, whereby All Lenders’ Lending Obligations shall cease to be   effective:
    
	
 
    	
 
    
	
 
    	
(i)
    	
If   the Borrower has defaulted in performing when due its payment of monetary   obligations, whether under this Agreement or not, payable to a Lender or the   Agent in whole or in part;
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
If   any matter described in the items of Article 19 has been found to be   untrue;
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
Except   for the cases described in item (i) of this paragraph, if the Borrower   breached any of
    

 

 

	
 
    	
 
    	
its   obligations under this Agreement, and such breach has not been remedied for   10 or more Business Days;
    
	
 
    	
 
    	
 
    
	
 
    	
(iv)
    	
If   any order or notice of attachment (sashiosae),   provisional attachment (kari-sashiosae),   preservative attachment (hozen-sashiosae),   or provisional disposition (kari-shobun)   (including any similar procedure taken outside Japan) has been sent out or   auction procedures (keibaitetuzuki)   have been commenced with respect to anything that is the subject of security   offered by the Borrower;
    
	
 
    	
 
    	
 
    
	
 
    	
(v)
    	
If   any of the outstanding corporate bonds issued by the Borrower have become due   and payable before the original due date;
    
	
 
    	
 
    	
 
    
	
 
    	
(vi)
    	
If   the Borrower delays in the performance of the whole or part of the monetary   debts other than those under this Agreement, or those debts have become due   and payable by their due date, or in relation to Borrower’s guarantee   obligations on debts assumed by a third party, the Borrower delays in the   performance of the whole or in part thereof regardless of the occurrence of   an obligation to perform such obligations
    
	
 
    	
 
    	
 
    
	
 
    	
(vii)
    	
If   the Borrower has suspended its business or received dispositions such as   suspension of business or others from the competent government authority and   other authorities;
    
	
 
    	
 
    	
 
    
	
 
    	
(viii)
    	
A   petition for specific conciliation (tokutei-chotei)   is submitted; or
    
	
 
    	
 
    	
 
    
	
 
    	
(ix)
    	
Except   for the preceding items, the situation of Borrower’s assets deteriorates or   may deteriorate and thereby it is found necessary to preserve receivables
    
	
 
    	
 
    	
 
    
	
(3)
    	
If   the notice dispatched pursuant to the preceding paragraph has been delayed or   has not been delivered to the Borrower due to fault of the Borrower, all of   the Borrower’s debts under this Agreement shall become due and payable by the   time such request or notice should have been delivered, and the Borrower   shall immediately pay the principal of the Aggregate Individual Loan (on and   after the Individual Loan Integration Date, the Aggregate Loan) and the   interest and Break Funding Costs and any other payment obligations that the Borrower   owes pursuant to this Agreement, in accordance with the provisions of   Article 17, whereby All Lenders’ Lending Obligations shall cease to be   effective.
    
	
 
    	
 
    
	
(4)
    	
If   a Lender has become aware of the occurrence of any events described in the   items (i) through (iv) of paragraph 1 or the items of paragraph 2   with respect to the Borrower, the Lender shall immediately notify the Agent   of such occurrence, and the Agent shall notify all other Lenders of the   occurrence of such events. In cases where the events set forth in paragraph   1, item (v), if a Lender has become aware of the occurrence of such events,   the Lender shall immediately notify the Borrower, other All Lenders, and the   Agent of such occurrence.
    
	
 
    	
 
    
	
Article 22 (Set-off, Exercise of Security   Interest, and Sale by Private Contract)
    
	
 
    
	
(1)
    	
When   the Borrower is required to perform its obligations to an Agent or a Lender   upon their due 
    

 

 

	
 
    	
date,   upon acceleration or otherwise, (a) the Agent or the Lender may set off   the receivables it has against the Borrower under this Agreement against its   deposit obligations, obligations under an insurance contact or other   obligations owed to the Borrower whether or not such obligations are due and   payable, regardless of paragraph 2 of Article 17, and (b) the Agent   or the Lender may also omit giving prior notice and following established   procedures, may take the deposited amount on behalf of the Borrower, and   apply this amount to the payment of obligations. The interest, Break Funding   Cost, default interest and others for   the receivables and obligations involved in such a set-off or application to   payment shall be calculated as such receivables and obligations ceasing to be   effective on the day such calculation is made, the interest rate and default   interest rate shall be in accordance with each agreement therefor, and the   foreign exchange rate at the time such calculation is made, as reasonably   determined by the Agent or the Lender, shall be applied.
    
	
 
    	
 
    
	
(2)
    	
The Borrower may, only if it is   necessary for the Borrower to preserve its deposit receivables, receivables   under an insurance contract, or any other receivables that it has against an   Agent or a Lender that became due, set off such receivables against its   obligations owed to the Agent or the Lender under this Agreement, regardless   of Article 17, paragraph 2. In this case, the Borrower shall give   written set-off notice to the Agent or the Lender and immediately submit to   the Agent or the Lender the receivable certificates for the deposit   receivables, receivables under an insurance contract or other receivables   being set-off and the passbook impressed with the seal of the seal impression   submitted. The interest, Break Funding Cost, default interest and others for   receivables and obligations involved in such a set-off shall be calculated as   such receivables and obligations ceasing to be effective on the day such   set-off notice arrives, the interest rate and default interest rate shall be   in accordance with each agreement therefor, and the foreign exchange rate at   the time such calculation is made, as reasonably determined by the Agent or   the Lender, shall be applied.
    
	
 
    	
 
    
	
(3)
    	
When the Borrower is required to perform   its obligations to an Agent or a Lender when due or upon acceleration or   otherwise, the Agent or the Lender may exercise its security interest   regardless of Article 17, paragraph 2 (including the collection through   any subrogation by property and the receipt by deed-in-lieu of performance (daibutsu bensai) or a private   disposition of assets on which security interest is established; hereinafter,   the “Exercise of Security Interest”). 
    
	
 
    	
 
    
	
(4)
    	
Regardless of the provisions of   Article 17, paragraph 2, the Borrower may give prior written notice to   the Agent, make a sale by private contract (nin-i-baikyaku) for the assets subject to the security interest that have been   granted in favor of an Agent or a Lender, pay the money received directly to   the Agent or the Lender as the performance of obligations under this   Agreement, or make the deed-in-lieu of performance (daibutsu bensai) for the assets subject   to the security interest that have been granted in favor of the Agent or the   Lender as the performance of obligations under this Agreement. Such payment   shall be deemed as the performance of obligations under this Agreement.
    
	
 
    	
 
    
	
(5)
    	
If a set-off or application to repayment   is effected pursuant to paragraph 1 or 2, if the security interest 
    

 

 

	
 
    	
is exercised pursuant to paragraph 3, or   if the assets subject to the security interest are sold by a private contract   (nin-i-baikyaku) or incur the deed-in-lieu of performance (daibutsu-bensai), pursuant to paragraph   4, the Lender shall, for paragraphs 1 and 3, and the Borrower, for paragraphs   2 and 4, immediately notify the Agent of the details thereof. If any damage,   loss, or expenses are incurred by the Lender or the Agent due to delay of   such notice without any reasonable cause, either the Lender or the Borrower   who has failed to give such notice shall bear such damages, etc.
    
	
 
    	
 
    
	
Article 23   (Arrangements among Lenders and the Agent)
    
	
 
    
	
(1)
    	
If the obligations of the Borrower owed   to any of Lenders under this Agreement cease to be effective without   following the provisions of Articles 17 and 18 (excluding the cases where a   set-off or application to repayment is effected pursuant to paragraph 1 or 2   of the preceding Article) (hereinafter, such Lender referred to as the   “Obligation Ceasing Lender”), unless otherwise set forth in this Agreement,   All Lenders and the Agent shall make an arrangement among the Lenders and the   Agent through the assignment of receivables or the receipt of the assignment   of receivables pursuant to the following items, or other reasonable measures,   so as to obtain the same results as the cases where the repayment is made   pursuant to the provisions of Articles 17 and 18 and the obligations owed to   the Agent and the Lender cease to be effective. If an approval of All Lenders   and the Agent for such assignment of receivables or the receipt of the   assignment of receivables, or other reasonable measures may not be obtained,   All Lenders shall follow the measures determined by the Agent at its   discretion. Notwithstanding this, if the assignment of receivables will be   made as the details of the arrangement among the Lenders and the Agent set   forth in this paragraph (including, but not limited to, the cases set forth   in item 2 of this paragraph), the Lenders to become an Assignor of such   receivables may refuse such assignment of receivables.
    
	
 
    	
 
    
	
 
    	
(i)
    	
When assuming that the amount in   relation to a cease to be effective of the obligations has been paid to the   Agent at the time of the obligations cease to be effective pursuant to the   provisions of Article 17, paragraph 1, the Agent shall specify the   receivables the payment of which other Lenders and the Agent (hereinafter the   “Other Lenders” in this paragraph) would be received pursuant to the   provisions of Articles 17 and 18, and calculate the amount thereof.
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
The Obligation Ceasing Lender shall   purchase from such Other Lenders at the face value the receivables equivalent   to the amount calculated by the Agent pursuant to the preceding item, which   are the receivables of the Other Lenders specified by the Agent pursuant to   the preceding item.
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
If the purchase set forth in the   preceding item is made, the Other Lenders who sold such receivables shall, at   its own expense, notify the Borrower immediately after the assignment by a   document bearing an incontrovertible date (kakutei-hizuke)   pursuant to Article 467 of the Civil Code.
    

 

 

	
(2)
    	
Regardless off the preceding paragraph,   in case of the following provisions, the arrangement between the Lenders and   the Agent set forth in the preceding paragraph shall not be made and only   related Lenders shall receive the repayment.
    
	
 
    	
 
    
	
 
    	
(i)
    	
If the security interest is exercised by   the Lender
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
If the Lender receives any repayment of   receivables it has against the Borrower under this Agreement with respect to   its security interest as a result of any compulsory execution or exercise of   security interest through a foreclosure by a third party
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
If the obligations under this Agreement   cease to be effective as a result of a set-off or application to repayment   pursuant to the provisions of paragraph 1 or 2 of the preceding Article
    
	
 
    	
 
    	
 
    
	
 
    	
(iv)
    	
Pursuant to the provisions of paragraph   4 of the preceding Article, a sale by private contract (nin-i-baikyaku) of the assets subject to the security interest have been granted   in favor of a Lender as the secured party of the security interest is made   and the money received is paid to directly to the Lender in order to perform   the obligations under this Agreement, or the deed-in-lieu of performance (daibutsu-bensai) of the assets subject   to the security interest have been granted in favor of a Lender as the   secured party of the security interest is made and the obligations under this   Agreement owed to the Lender cease to be effective
    
	
 
    	
 
    
	
Article 24   (Right and Duties of the Agent)
    
	
 
    
	
(1)
    	
The Agent shall, pursuant to the   entrustment by All Lenders, perform the Agent Services and exercise rights   for the benefit of All Lenders, and shall exercise the rights which, in the   Agent’s opinion, are ordinarily necessary or appropriate, upon performing the   Agent Services. The Agent shall not be liable for the duties other than those   expressly specified in each provision of this Agreement, nor shall be liable   for any non-performance of obligations by the Lenders under this Agreement.   The Agent shall be an agent of the Lenders and, unless otherwise provided,   shall never act as an agent of the Borrower.
    
	
 
    	
 
    
	
(2)
    	
The Agent may rely upon any   communication, instrument and document (including the Drawdown Application to   be received from the Borrower by facsimile pursuant to the provisions of   Article 4, paragraph 1) that has been delivered between appropriate   persons and has been signed or has the name and seal attached by such   appropriate persons and believed by the Agent to be true and correct, and may   act in reliance upon any written opinion or explanatory letter of experts   appointed by the Agent within the reasonably necessary extent in relation to   this Agreement.
    
	
 
    	
 
    
	
(3)
    	
The Agent shall perform its duties and   exercise its authorities provided for in this Agreement with the due care of   a good manager.
    
	
 
    	
 
    
	
(4)
    	
Neither the Agent nor any of its   directors, employees or agents shall be liable to the Lenders for any acts or   omissions conducted by the Agent pursuant to, or in connection with this   Agreement, except
    

 

 

	
 
    	
for its or their willful misconduct or   negligence.

 

The Lender shall jointly and severally   indemnify the Agent for any and all liabilities, damages, losses and expenses   (including, without limitation, any expenses paid to avoid or minimize any   damages or losses and paid in order to recover any damages or losses   (including attorney’s fees)) incurred by the Agent in the course of the   performance of its duties under this Agreement, to the extent not reimbursed   by the Borrower.

 

Notwithstanding this, if the Agent also   acts as the Lender, the Lender excluding the Agent shall jointly and   severally indemnify the Agent only for the amount outstanding after deducting   the portion for which the Agent should contribute, calculated pursuant to the   Agent’s Commitment Ratio (if any of the Lenders cannot perform the indemnity   for which it is liable, the Agent’s Commitment Ratio shall be figured by   dividing the Commitment Ratio of the Lenders, the Agent, by the aggregate of   the Commitment Ratio of the Lenders other than such non-indemnifying   Lenders).
    
	
 
    	
 
    
	
(5)
    	
If the Agent receives written   instructions from the Majority Lenders, it conducts an act in accordance with   such instructions unless they are illegal. In this case, the Borrower or the   Lender is in no way liable for the results arising from the act.
    
	
 
    	
 
    
	
(6)
    	
Unless the Agent receives from the   Borrower or the Lender a notice to the effect that there are events set forth   in the items of Article 21, paragraphs 1 or 2 or an event constituting   such events due to notices or the passage of time or due to the both, the   Agent shall be deemed not to have known the existence of such events.
    
	
 
    	
 
    
	
(7)
    	
The Agent shall not be liable for the   validity of this Agreement, nor shall guarantee any matters represented by   the parties in this Agreement. The Lenders shall enter into, and conduct   transactions contemplated in, this Agreement at its sole discretion by   conducting investigations as to the necessary matters including   creditworthiness of the Borrower on the basis of the documents, information   and other data as it has deemed appropriate.
    
	
 
    	
 
    
	
(8)
    	
In cases where the Agent is also acting   as a Lender, the Agent shall have the same rights and obligations as each   other Lender, irrespective of the Agent’s obligations under this   Agreement.  The Agent may engage in   commonly accepted banking transactions with the Borrower other than under   this Agreement. In this case, the Agent shall not be required to disclose to   other Lenders the information (any information that has been disclosed to the   Agent by the Borrower shall be, unless expressly identified as being made in   relation to this Agreement, deemed obtained in relation to the transactions   with the Borrower other than under this Agreement) in relation to the   Borrower it has obtained through the transactions with the Borrower other   than under this Agreement, nor shall the Agent be required to distribute to   other Lenders any money it has received from the Borrower through   transactions with the Borrower other than under this Agreement. 
    
	
 
    	
 
    
	
(9)
    	
In cases where the Agent is also acting   as a Lender, the calculation of the amounts to be distributed 
    

 

 

	
 
    	
to each Lender pursuant to the   provisions of Article 18 shall be made in accordance with the following:   (i) for amounts to be distributed to each Lender other than the Agent,   any amount less than one yen shall be rounded down, and (ii) for amounts   to be distributed to a Lender who is also appointed as the Agent shall be the   amount obtained by subtracting the aggregate of the amounts distributed to   other Lenders from the aggregate of the amounts to be distributed to All   Lenders.
    
	
 
    	
 
    
	
(10)
    	
Except for the cases under the preceding   paragraph, all calculations of fractions less than one yen that are required   under this Agreement shall be made in the manner the Agent deems appropriate.
    
	
 
    	
 
    
	
(11)
    	
The determination of the   rate, Interest Calculation Period, and repayment date that are contained   the notice given by the Agent to the Borrower or the Lender, as well as other   determinations and the amount payable under this Agreement, shall bind on the   Borrower and the Lender as having been definite unless there is a clear   error.
    
	
 
    	
 
    
	
(12)
    	
If the Agent receives any notice from   the Borrower which is required to be given to each Lender in relation to this   Agreement, the Agent shall immediately inform All Lenders of the details of   such notice, or if the Agent receives any notice from a Lender which is   required to be given to the Borrower or other Lenders in relation to this   Agreement, the Agent shall immediately inform the Borrower or All Lenders, as   the case may be, of the details of such notice. The Agent shall make any documents,   which the Agent has obtained from the Borrower and has kept, available for   review by a Lender during the ordinary business hours.
    
	
 
    	
 
    
	
Article 25   (Designation and Dismissal of the Agent)
    
	
 
    
	
(1)
    	
The resignation of the Agent shall   follow the procedures described below:
    
	
 
    	
 
    
	
 
    	
(i)
    	
The Agent may resign its position as the   Agent by giving written notice to All Lenders and the Borrower; provided,   however, that such resignation shall not become effective until a successor   Agent is appointed and such successor accepts such appointment.
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
If the Agent gives notice pursuant to   the preceding item, the Majority Lender(s) may appoint a successor Agent   upon obtaining consent from the Borrower.
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
If a successor Agent is not appointed by   the Majority Lender(s) within 30 days (including the same day of notice)   after the notice of resignation is given as described in item (i) above,   or if the entity being appointed by the Majority Lender(s) as a   successor Agent does not accept its assumption of the office of the Agent,   the Agent in office at that time shall, upon obtaining consent form the   Borrower, appoint a successor Agent on behalf of the Majority Lender(s).
    
	
 
    	
 
    	
 
    
	
(2)
    	
The dismissal of the Agent shall follow   the procedures described below:
    
	
 
    	
 
    
	
 
    	
(i)
    	
The Majority Lender(s) may dismiss   the Agent by giving written notice thereof to each of the other Lenders, the   Borrower, and the Agent; provided, however, that such dismissal shall not   become effective until a successor Agent is appointed and such successor accepts   such appointment.
    

 

 

	
 
    	
(ii)
    	
If the Majority Lender(s) gives   notice pursuant to the preceding item, the Majority Lender(s) may   appoint a successor Agent upon obtaining consent from the Borrower.
    
	
 
    	
 
    	
 
    
	
(3)
    	
If the entity appointed as the successor   Agent pursuant to paragraph 1 or the preceding paragraph accepts the   assumption of the office, the former Agent shall deliver to the successor   Agent all documents and the materials it has kept as the Agent under this   Agreement, and shall give all the support necessary for the successor Agent   to perform the duties of the Agent under this Agreement.
    
	
 
    	
 
    
	
(4)
    	
The successor Agent shall succeed to the   rights and obligations of the former Agent under this Agreement, and the   former Agent shall, at the time of the assumption of office by the successor   Agent, be exempted from all of its obligations as the Agent; provided,   however, that the provisions of this Agreement relevant to any actions   (including omissions) conducted by the former Agent during the period it was   in office shall remain in full force and effect.
    
	
 
    	
 
    
	
Article 26   (Clarification of the Intention of the Majority Lender(s))
    
	
 
    
	
(1)
    	
The clarification of the intention of   the Majority Lender(s) shall follow the procedures described below:
    
	
 
    	
 
    
	
 
    	
(i)
    	
If a Lender deems that any event which   requires the instructions of the Majority Lender(s) in this Agreement   has occurred, such Lender may give notice to the Agent to request the   clarification of the intention of the Majority Lender(s). 
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
The Agent shall, upon receipt of a   notice described in the preceding item, immediately give to All Lenders   notice to seek the clarification of the intention of the Majority Lender(s).
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
The Lender shall, upon receipt of the   notice described in the preceding item, make its decision on the relevant   event and inform the Agent of such decision within five Business Days after   the receipt.
    
	
 
    	
 
    	
 
    
	
 
    	
(iv)
    	
If a decision of the Majority   Lender(s) is made pursuant to the preceding three items, the Agent shall   immediately notify the Borrower and All Lenders of such decision as the   instruction by the Majority Lender(s).
    
	
 
    	
 
    	
 
    
	
(2)
    	
If the Agent deems that any event which   requires the clarification of the intention of the Majority   Lender(s) occurs, other than in the case of the preceding paragraph, the   Agent may give to All Lenders notice to seek such clarification. In such   case, procedures to be taken after giving the notice shall follow the   provisions of items (iii) and (iv) of the preceding paragraph.
    
	
 
    	
 
    
	
Article 27   (Amendment to this Agreement)
    
	
 
    
	
(1)
    	
This Agreement may not be amended except   as agreed in writing by the Borrower, All Lenders, and the Agent.
    

 

 

	
Article 28   (Assignment of this Agreement)
    
	
 
    
	
(1) 
    	
The Borrower may not assign to any third   party its status as a party or its rights and obligations under this   Agreement, unless All Lenders and the Agent give their prior consent in   writing.
    
	
 
    	
 
    
	
(2)
    	
Prior to the termination of the Lending   Obligations and if all other Lenders, the Borrower and the Agent give their   prior consent in writing (except for the assignments of the Loan Receivables   set forth in Articles 23 or 29) and all requirements described in the items   below are fulfilled, a Lender may assign to any third party its status as a   party to this Agreement, or all of its rights and obligations associated   therewith (the assignment of any part of the rights and obligations under   this Agreement is not allowed) (hereinafter in this Article, a Lender which   made such assignment as an “Assigning Lender” and which accepted such   assignment as a “Successive Lender”). In this case, the Assigning Lender and   the Successive Lender shall, under joint names, send to the Agent the Status   Assignment Notice in the form shown in Appendix 6 attached to this Agreement,   with a copy of a written consent of the Agent attached. The Borrower and the   Agent may not unreasonably withhold their consent, and the Agent, upon such   assignment, shall notify All Lenders of such assignment.

 

(i) If   the Loan Receivables, or other Assigning Lenders’ receivables from the Borrower   set forth in this Agreement are assigned to the Successive Lender by the said   assignment, the Borrower’s consent shall include the consent of the   assignment of such receivables (if any) and bear an incontrovertible date (kakutei-hizuke) as of the date of the   assignment.

 

(ii) The Successive Lender shall be   the Qualified Assignee.

 

(iii) No   withholding tax or other taxes arise from any assignment, and there will be   no increase in the amount of the Borrower’s interest expense payable to the   Successive Lender pursuant to the provisions of Article 17, paragraph 5   (except for any assignment of the status to a foreign Subsidiary or Affiliate   due to any revocation of the Lender’s lending business in Japan).
    
	
 
    	
 
    
	
(3)
    	
All expenses incurred from the   assignment set forth in the preceding paragraph shall be borne by the   Assigning Lender. The Assigning Lender shall pay to the Agent, by the actual   date of such assignment, the amount of 500,000 yen together with applicable   consumption tax and local consumption tax, as consideration for   administrative duties performed in connection with the assignment.
    
	
 
    	
 
    
	
Article 29   (Assignment of Loan Receivables, etc.)
    
	
 
    
	
(1)
    	
Unless otherwise specified in this   Agreement, after the Landing Obligations terminate and if all requirements described   in the items below are satisfied, the Lender may assign all of Loan   Receivables (the assignment of a portion of the Lending Obligations is not   allowed) in relation to any of Each Individual Loan (on and after the   Individual Loan Integration Date, Each Loan) as well as any and all part of   its rights and obligations associated therewith and other status as a party   under this Agreement. The Assignor and the Assignee shall perfect the   assignment against the third parties 
    

 

 

	
 
    	
and the obligor regarding the assignment   of receivables promptly after the assignment as of the date of the   assignment. In this case, the Assignor and Assignee shall, under their joint   name, immediately notify the Agent of the fact that such assignment was made.   Such notice shall be given by sending to the Agent the Receivables Assignment   Notice in the form set forth in Appendix 7 attached to this Agreement. Other   All Lenders, the Borrower, and the Agent shall agree such assignment in   advance. In this case, the Assignee shall be treated as a Lender upon   applying each provision in relation to the Loan Receivables as well as any   and all part of its rights and obligations associated therewith and other   status as a party under this Agreement.
    
	
 
    	
 
    
	
 
    	
(i)
    	
The Assignee agrees that the Loan   Receivables it has succeeded to as well as any and all part of its rights and   obligations associated therewith and other status as a party under this   Agreement shall be bound upon by each provision in relation to the Loan   Receivables under this Agreement as well as any and all part of its rights   and obligations associated therewith and other status as a party under this   Agreement.
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
The Assignee shall be the Qualified   Assignee.
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
No withholding tax or other taxes arise   from the assignment, and there will be no increase in the amount of the   Borrower’s interest expense payable to the Assignee (except for any   assignment to a foreign Affiliate due to any revocation of the Lender’s   lending business in Japan).
    
	
 
    	
 
    	
 
    
	
(2)
    	
All expenses incurred from the   assignment set forth in the preceding paragraph shall be borne by the   Assignor. The Assignor shall pay to the Agent, by the actual date of such   assignment, the amount of 500,000 yen together with applicable consumption   tax and local consumption tax, as consideration for administrative duties   performed in connection with the assignment.
    
	
 
    	
 
    
	
Article 30   (Collection from Third Party)
    
	
 
    
	
(1)
    	
The Borrower shall not, on or after the   date of this Agreement, consign any third party to guarantee (including any guarantee   by property) the Borrower’s performance of its debt obligations under this   Agreement, nor shall the Borrower make any third party assume its debt   obligations under this Agreement, unless it obtains prior written consent   from the Agent and All Lenders.
    
	
 
    	
 
    
	
(2)
    	
Only if all requirements set forth in   the following items in relation to the repayment of Borrower’s obligations   owed to a third party (regardless of whether the third party is a person   (including a guarantor and a guarantor by property) who has due interest to   repay the Borrower’s obligations under this Agreement) under this Agreement   are satisfied (in case of the repayment by the money received from the   exercise of security interest established by a guarantee by property, a sale   by private contract (nin-i-baikyaku) of the assets   subject to the security interest established by a guarantor by property, and   the deed-in-lieu of performance (daibutsu-bensai)   of the assets subject to the security interest established by a guarantor by   property, the case where only requirements set 
    

 

 

	
 
    	
forth in   item (i)), the Lender may receive such repayment. If the Lender receives the   repayment from a third party pursuant to the provisions of this paragraph,   such Lender, under joint names with the third party, and the Borrower, under   its single name, shall notify the Agent of the fact of the repayment   immediately. In respect to the receipt of repayment in accordance to this   paragraph, the provisions of Article 17, paragraph 2 shall not apply,   and in respect to a cease to be effective of the obligations under this   Agreement, no arrangement among the Lenders and the Agent set forth in   Article 23, paragraph 1 shall be made.
    
	
 
    	
 
    
	
 
    	
(i)
    	
When the third party exercise the right   for recourse and the receivables obtained by subrogating the Lender as a   result of such repayment, the said right for recourse and the receivables   obtained by the subrogation shall be treated as the receivables in relation   to such repayment, and to the extent thereof, the provisions under this Agreement   shall bind on the third party. The third party shall approve in writing to   that effect and submit the written approval to the Agent for the Lender and   the Agent.
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
The third party shall be the Qualified   Assignee, and neither a Borrower’s Subsidiary or Affiliate nor the Borrower   is a Subsidiary or an Affiliate of such third party.
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
If the repayment is a repayment of   obligations pertaining to the Loan Receivables in relation to any of Each   Individual Loan (on and after the Individual Loan Integration Date, Each   Loan), such Loan Receivables shall be repaid in full.
    
	
 
    	
 
    	
 
    
	
 
    	
(iv)
    	
No withholding tax or other taxes arise   from any such obtainment by subrogation, and there will be no increase in the   amount of the Borrower’s interest expense payable to the third party pursuant   to the provisions of Article 17, paragraph 5.
    
	
 
    	
 
    	
 
    
	
 
    	
In the case of any exercise of the right   for recourse or any obtainment by subrogation of the Loan Receivables by the   third party, such obtainment of the right for recourse or such obtainment by   subrogation shall be considered the assignment of the Loan Receivables   pursuant to the provisions of the preceding paragraph, and the provisions of   paragraph 2 of the same Article shall apply.
    
	
 
    	
 
    
	
Article 31 (Termination of this   Agreement)
    
	
 
    
	
If any of the events described in the   items below occur, All Lenders’ Lending Obligations shall cease to be   effective. In this case, if the events set forth in item 2 of this   Article occur, the Borrower shall immediately pay all of its obligations   under this Agreement in accordance with the provisions of Article 17.   Until the Borrower completely pays all of its obligations under this   Agreement, the relevant clauses of this Agreement shall survive in full force   and effect.
    
	
 
    
	
 
    	
(i)
    	
If the Commitment Due Date lapses
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
If the obligations of the Borrower   become due and payable pursuant to Article 21
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
If the Borrower terminates the Lending   Obligations pursuant to the provisions of Article 2, paragraph 5
    

 

 

	
 
    	
(iv)
    	
If   the Total Unused Commitment Amount become zero
    
	
 
    	
 
    	
 
    
	
Article 32 (General Provisions)
    
	
 
    
	
(1)
    	
Confidentiality   Obligations
    
	
 
    	
 
    
	
The Borrower shall raise no objection to the   disclosure of information set forth in each item below:
    
	
 
    
	
 
    	
(i)
    	
If   the notice of refusal to make an Individual Loan has been given pursuant to   the provisions of Article 7, paragraph 1, or if any of the events   described in the items of Article 21, paragraph 1 or 2 have occurred, or   an event constituting such events due to notices or the passage of time or   the both has occurred, or if the clarification of the intention of the   Majority Lenders has been required pursuant to the provisions of   Article 26, the Agent and a Lender may disclose any information with   regard to the Borrower or the transaction with the Borrower, which either   party has obtained through this Agreement or an agreement other than this   Agreement, to the extent reasonably required.
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
Upon   the assignment of status pursuant to Article 28 or the assignment of   Lending Obligations, etc. pursuant to Article 29, a Lender may   disclose any information with regard to this Agreement to the Assignee   (including the Successive Lender set forth in the provisions of   Article 28) or a person considering becoming an Assignee (including an   intermediary of such assignment), on the condition that those persons agree   to be bound by the confidentiality obligations. The information with regard   to this Agreement in this item shall mean any information regarding the   Borrower’s credibility that has been obtained in connection with this   Agreement, any information regarding the contents of this Agreement and other   information incidental thereto, and any information regarding the contents of   the Lending Obligations, etc. to be assigned and other information   incidental thereto, and shall not include any information regarding the   Borrower’s credibility that has been obtained in connection with any   agreement other than this Agreement.
    
	
 
    	
 
    	
 
    
	
(2)
    	
Risk   Bearing; Exemption, Compensation, and Indemnification
    
	
 
    	
 
    
	
 
    	
(i)
    	
If   any documents furnished by the Borrower to the Agent or each Lender have been   lost, destroyed, or damaged for any unavoidable reasons such as incidents or   natural disasters, the Borrower shall, upon consultation with the Agent,   perform its obligations under this Agreement based on the records, such as   books and vouchers, of the Lender or the Agent.  The Borrower shall, upon request of the   Agent or a Lender through the Agent, forthwith prepare substitute documents   and furnish them to the Agent or the Lender through the Agent.
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
If   each Lender or the Agent performs transactions after comparing, with due   care, the seal impression of the representative and agent of the Borrower to   be used for the transactions in relation to this Agreement with the seal   impression submitted by the seal submitted by the Borrower in advance, the   Borrower shall bear any damages, loss or expenses incurred as a 
    

 

 

	
 
    	
 
    	
result   of an event such as forgery, alteration, or theft of seal.
    
	
 
    	
 
    	
 
    
	
 
    	
(iii)
    	
The   Borrower shall bear any damages, loss and expenses arising with respect to a   Lender or the Agent as a result of the Borrower’s breach of this Agreement or   as a result of a Lender not performing or performing indemnity pursuant to   the provisions of Article 24, paragraph 4.
    
	
 
    	
 
    	
 
    
	
(3)
    	
Severability
    
	
 
    	
 
    
	
 
    	
Should   any provision which constitutes a part of this Agreement be held null,   illegal, or unable to perform compulsorily, validity, legality and   possibility of compulsory performance of all other provisions shall in no way   be prejudiced or affected.
    
	
 
    	
 
    
	
(4)
    	
Relation   with the Bank Transactions Agreement and Other Agreements
    
	
 
    	
 
    
	
 
    	
If   any inconsistency is found between the provisions of this Agreement, and   those of the Agreement on Bank Transactions or other comprehensive agreements   on financial transactions (hereinafter in this paragraph, the “Transactions   Agreements”) separately submitted by the Borrower or made and entered into by   and between the Borrower and a Lender in relation to transactions under this   Agreement, the provisions of this Agreement shall supersede those of the   Transactions Agreements, and if the matters not set forth in this Agreement   are set forth in such Transactions Agreements, the provisions of such   Transactions Agreement shall apply to the said matters.
    
	
 
    	
 
    
	
(5)
    	
Notices
    
	
 
    	
 
    
	
 
    	
(i)
    	
Any   notice under this Agreement shall be made in writing expressly stating that   it is made for the purpose of this Agreement, and given by any of the methods   described in (a) through (d) below to the address of the receiving   party described in Appendix 1 attached to this Agreement. Each party to this   Agreement may change its address by giving notice thereof to the Agent.

 

(a) Personal   delivery;

 

(b) Registered   mail or courier service;

 

(c) Transmission   by facsimile, or

 

(d) E/X   (only for any notice among Lenders and the Agent)
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
The   notice pursuant to the preceding item shall be deemed to have been delivered   at the time, in the case of transmission by facsimile, when receipt of   facsimile is confirmed at the facsimile of the sender, and in the case of any   other methods, when actually received.
    
	
 
    	
 
    	
 
    
	
(6)
    	
Changes   in Notified Matters
    
	
 
    	
 
    
	
 
    	
(i)
    	
In   the case of changes in the matters of which a Lender or the Borrower notified   to the Agent, such as the trade name, company name, representative, agent,   signature, seal, or address, the Lender and the Borrower shall immediately   notify the Agent of such changes in writing.
    
	
 
    	
 
    	
 
    
	
 
    	
(ii)
    	
If   notice given under this Agreement is delayed or not delivered as a result of   the failure to 
    

 

 

	
 
    	
 
    	
notify   as described in the preceding item, such notice shall be deemed to have   arrived at the time when it should have normally arrived.
    
	
 
    	
 
    	
 
    
	
(7)
    	
Fund   Transfer
    
	
 
    	
 
    
	
 
    	
Fees, etc.   in relation to the payment under this Agreement to be paid by any of parties   of this Agreement to any of other parties of this Agreement shall be borne by   the party who makes payment.
    
	
 
    	
 
    
	
(8)
    	
Calculation
    
	
 
    	
 
    
	
 
    	
Unless   otherwise expressly provided for with respect to any calculation under this   Agreement, all calculation shall be inclusive of first day and exclusive of   last day, on a per diem basis assuming that there are 365 days per year,   wherein the division shall be done at the end of the calculation, and   fractions less than one yen shall be rounded down.
    
	
 
    	
 
    
	
(9)
    	
Preparation   of the Notarized Deed
    
	
 
    	
 
    
	
 
    	
The   Borrower shall, at any time upon the request of the Agent or a Majority   Lender, take the necessary procedures to entrust a notary public to execute a   notarized deed in which the Borrower acknowledges its indebtedness under this   Agreement and agrees to compulsory execution with regard thereto. Expenses in   respect to the preparation of such notarized deed shall be borne by the   Borrower.
    
	
 
    	
 
    
	
(10)
    	
Governing   Law and Jurisdiction
    
	
 
    	
 
    
	
 
    	
This   Agreement shall be governed by the laws of Japan, and the Tokyo District   Court shall have the non-exclusive jurisdiction over any disputes arising in   connection with this Agreement.
    
	
 
    	
 
    
	
(11)
    	
Language
    
	
 
    	
 
    
	
 
    	
This   Agreement shall be prepared in the Japanese language and the Japanese   language version shall be deemed the original copy.
    
	
 
    	
 
    
	
(12)
    	
Consultation
    
	
 
    	
 
    
	
 
    	
Any   matters not provided for in this Agreement, or in the case of any doubt among   the parties with respect to the interpretation, the Borrower and the Lenders   shall consult through the Agent and shall determine the response therefor.
    

 

 

IN WITNESS WHEREOF, the representatives or their agent of the Borrower, each Lender, and the Agent have caused this Agreement to be signed and sealed in one copy, and the Agent shall retain the same. The Lender and the Borrower shall receive a copy thereof from the Agent.

 

 

September 27, 2011

 

	
Revenue
    	
 
    	
Borrower:
    
	
stamp
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
illegible   signature
    
	
 
    	
(UBIC, Inc.)
    

 

 

	
 
    	
Lender   and Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
illegible   signature
    
	
 
    	
(The   Bank of Tokyo-Mitsubishi UFJ, Ltd.)
    

 

 

	
 
    	
Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
illegible   signature
    
	
 
    	
(The   Bank of Yokohama, Ltd.)
    

 

 

	
 
    	
Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
illegible   signature
    
	
 
    	
(Sumitomo   Mitsui Banking Corporation)
    

 

 

	
 
    	
Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
illegible   signature
    
	
 
    	
(Resona   Bank, Limited)
    

 

 

Appendix 1 (List of Parties)

 

List of Parties

 

1. Borrower

 

	
Trade   name/Company name
    	
 
    	
UBIC, Inc.
    
	
Address
    	
 
    	
2-12-23,   Kounan, Minato ward, Tokyo
    
	
Contact
    	
 
    	
Meisan   Takahama building, Seventh floor, 2-12-23, Kounan, Minato ward, 
   Tokyo 108-0075, Japan 
   Administration Department
   Tel: 03-5463-6344
   Fax: 03-5463-6345
    

 

2. Agent

 

	
Trade   name/Company name
    	
 
    	
The   Bank of Tokyo-Mitsubishi UFJ, Ltd.
    
	
Address
    	
 
    	
2-7-1,   Marunouchi, Chiyoda-ku, Tokyo
    
	
Contact
    	
 
    	
1-1-1,   Otemachi, Chiyoda-ku, Tokyo 100-8114, Japan
   Administration Office, Syndicated Finance Division 
   Tel: 03-5252-0446
   Fax: 03-5252-5941
    

 

3. Lenders

 

(1)

 

	
Trade   name/Company name
    	
 
    	
The   Bank of Tokyo-Mitsubishi UFJ, Ltd.
    
	
Address
    	
 
    	
2-7-1,   Marunouchi, Chiyoda-ku, Tokyo
    
	
Loan   office
    	
 
    	
Shinagawa-Ekimae   Branch
    
	
Contact
    	
 
    	
2-16-2,   Kounan, Minato-ku, Tokyo 108-0075, Japan 
   Corporate Banking Division 1, Shinagawa-Ekimae Branch 
   Tel: 03-6716-1010 
   Fax: 03-6716-1012
    
	
Commitment   amount
    	
 
    	
300   million yen
    

 

 

(2)

 

	
Trade   name/Company name
    	
 
    	
The   Bank of Yokohama, Ltd.
    
	
Address
    	
 
    	
3-1-1,   Minatomirai, Nishi-ku, Yokohama-shi, Kanagawa pref. 220-8611, Japan
    
	
Loan   office
    	
 
    	
Tamachi   Branch
    
	
Contact
    	
 
    	
3-13-1,   Shibaura, Minato-ku, Tokyo 108-0023, Japan
   Tamachi Branch
   Tel: 03-3452-9441
   Fax: 03-3452-9447
    
	
Commitment   amount
    	
 
    	
200   million yen
    

 

(3)

 

	
Trade   name/Company name
    	
 
    	
Sumitomo   Mitsui Banking Corporation
    
	
Address
    	
 
    	
1-1-2,   Marunouchi, Chiyoda-ku, Tokyo
    
	
Loan   office
    	
 
    	
Gotanda   Corporate Banking Department
    
	
Contact
    	
 
    	
1-4-10,   Higashi-Gotanda, Shinagawa-ku, Tokyo 141-0022, Japan 
   Gotanda Corporate Banking Department 
   Tel: 03-3443-6617
   Fax: 03-3442-7914
    
	
Commitment   amount
    	
 
    	
100   million yen
    

 

(4)

 

	
Trade   name/Company name
    	
 
    	
Resona   Bank, Limited
    
	
Address
    	
 
    	
2-2-1,   Bingo-Machi, Chuo-ku, Osaka-shi, Osaka
    
	
Loan   office
    	
 
    	
Shinagawa   Branch
    
	
Contact
    	
 
    	
5-6-6,   Minami-Shinagawa, Shinagawa-ku, Tokyo 140-0004, Japan 
   Public Relations Division, Shinagawa Branch 
    
	
 
    	
 
    	
Tel:   03-3492-5918 
   Fax: 03-3779-0265
    
	
Commitment   amount
    	
 
    	
100   million yenExhibit 10(1)

 

American International Group, Inc.

 

Non-Management Director Compensation

(effective October 1, 2012)

 

1.                                       Annual cash retainer for all non-management directors of $150,000, payable in four equal installments on the first business day of each quarter in arrears of service.  No attendance fees will be paid for Board meetings, including executive sessions.

 

2.                                       Additional cash retainer for non-management members of committees as follows:

 

·                  Annual retainer for Chairman of the Audit Committee: $25,000

 

·                  Annual retainer for other committee Chairmen: $15,000

 

·                  Annual retainer for non-Chairmen committee members: $5,000 per committee

 

·                  No attendance fees will be paid for committee meetings

 

Retainers will be paid in four equal installments on the first business day of each quarter in arrears of service.  As of October 1, 2012, directors may elect to defer the amount of all cash retainers into Deferred Stock Units (“DSUs”) under the AIG 2010 Stock Incentive Plan (the “Plan”).(1)

 

3.                                       Additional cash retainer for the Chairman of the Board of $250,000, payable in four equal installments on the first business day of each quarter in arrears of service.

 

4.                                       Annual grant of $50,000 in DSUs(1) under the Plan.  Annual grants will be made on the date of the Annual Meeting.

 

5.                                       No quarterly retainer installment payment will be paid to any director in the event that such director did not attend at least 75% of the aggregate of all Board and Committee meetings (of which he or she is a member) during the prior four quarters.

 

(1)          The value of the DSUs received in connection with the deferral of any retainer described above will be determined based upon the closing sale price of AIG Common Stock on the date the retainer would otherwise be due.  The value of the DSUs received as part of the annual grant described above will be determined based upon the closing sale price of AIG Common Stock on the date of the Annual Meeting.  DSUs include dividend equivalent rights that entitle the director to a quarterly payment, in the form of DSUs, equal to the amount of any regular quarterly dividend that would have been paid by AIG if shares of Common Stock that underlie the DSUs had been outstanding. In the event any director retires or otherwise ceases to be a director before the completion of his or her full annual term of office, the delivery of all shares of Common Stock underlying DSUs will be paid and/or delivered on the last trading day of the month in which the director ceases to be a director.

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