Document:

EX-4.5

    
      

      

    

    

      INTERCREDITOR
        AGREEMENT

       

      This
        INTERCREDITOR
        AGREEMENT,
        dated
        as of November 16, 2004, is among LASALLE BANK NATIONAL
        ASSOCIATION,
        in its
        capacity as the Administrative Agent under the Credit Agreement (as defined
        below) (in such capacity, the "Administrative
        Agent"),
        WELLS
        FARGO BANK, N.A., as collateral agent and trustee under the Indenture referred
        to below (in its capacity as collateral agent, the "Trustee"),
        and
        INTEGRATED ALARM SERVICES GROUP, INC., a Delaware corporation (the "Borrower").

       

      W
        I T
        N E S S E T H:

       

      WHEREAS,
        the
        Borrower, Criticom International Corporation, Monital Signal Corporation,
        Payne
        Security Group, L.L.C., American Home Security, Inc., various financial
        institutions from time to time parties thereto (the "Lenders")
        and
        the Administrative Agent are entering into a Credit Agreement, dated as of
        November 16, 2004 (as amended, supplemented, amended and restated or otherwise
        modified from time to time, the "Credit
        Agreement");

       

      WHEREAS,
        the Obligors (as hereinafter defined) will grant to the Administrative Agent,
        for the benefit of the Lenders, security interests in the First Priority
        Collateral (as hereinafter defined) as security for payment and performance
        of
        the First Priority Claims (as hereinafter defined);

       

      WHEREAS,
        the
        Borrower and the Trustee are entering into an Indenture, dated as of November
        16, 2004 (as amended, supplemented, amended and restated or otherwise modified
        from time to time, the "Indenture"),
        governing the rights and duties of the Borrower under its 12% Senior Secured
        Notes due 2011 in the original aggregate principal amount of $125,000,000
        (together with any additional notes issued under the Indenture, the
        "Notes");
        and

       

      WHEREAS,
        the Obligors will grant to the Trustee, for the benefit of the Noteholders
        (as
        hereinafter defined), security interests in the Noteholder Collateral (as
        hereinafter defined) as security for payment and performance of the Noteholder
        Claims (as hereinafter defined);

       

      NOW,
        THEREFORE,
        in
        consideration of the foregoing, the mutual covenants and obligations herein
        set
        forth and for other good and valuable consideration, the adequacy and receipt
        of
        which are hereby acknowledged, and in reliance upon the representations,
        warranties and covenants herein contained, the parties hereto, intending
        to be
        legally bound, hereby agree as follows:

       

      Section
        1.  Definitions.

       

      1.1  Defined
        Terms.
        As used in this Agreement, the following terms shall have the following meanings
        (such meanings to be equally applicable to both the singular and the plural
        forms of the terms indicated):

       

      "Administrative
        Agent"
        means,
        in addition to the Administrative Agent defined in the preamble,
        the
        then acting agent for the Lenders under the Loan Documents and any successor
        thereto exercising substantially the same rights and powers.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
             

            "Agreement"
          means
          this Intercreditor Agreement, as amended, supplemented, amended and restated
          or
          otherwise modified from time to time in accordance with the terms
          hereof.

      

       

      "Bankruptcy
        Code"
        means
        Title 11 of the United States Code (11 U.S.C. 101 et
        seq.).

       

      "Borrower"
        is
        defined in the preamble.

       

      "Business
        Day"
        means
        any day other than a Saturday, Sunday or other day on which commercial banks
        are
        required or authorized to be closed in New York, New York.

       

      "Cash
        Management Obligations"
        means
        all obligations of the Borrower or any other Obligor to any Lender under
        or in
        connection with any arrangement in respect of overdraft protection, Automated
        Clearing House services and other treasury, depositary and cash management
        services, including reimbursement obligations relating thereto, overdraft
        liabilities, liabilities in respect of returned items, fees, expenses and
        indemnities (including interest accruing thereon after the filing of a petition
        in bankruptcy or the commencement of any Insolvency Proceeding, regardless
        of
        whether the same is allowed as a claim in such proceeding).

       

      "Common
        Collateral"
        means
        all of the assets and property of the Obligors, whether real, personal or
        mixed,
        constituting both First Priority Collateral and Noteholder
        Collateral.

       

      "Comparable
        Noteholder Collateral Document"
        means,
        in relation to any Common Collateral subject to any Lien created under any
        First
        Priority Collateral Document, that Noteholder Collateral Document which creates
        a Lien in the same Common Collateral, granted by the same Obligor, as
        applicable.

       

      "Credit
        Agreement"
        is
        defined in the first recital;
        provided
        that (i)
        the term "Credit" Agreement shall (x) also include any renewal, extension,
        refunding, restructuring, replacement or refinancing thereof (whether with
        the
        original administrative agent and lenders or another administrative agent
        or
        agents or other lenders, whether provided under the original Credit Agreement
        or
        any other credit or other agreement or indenture and whether entered into
        concurrently with or subsequent to the termination of the prior Credit
        Agreement), provided
        that any
        such renewal, extension, refunding, restructuring, replacement or refinancing
        does not increase the principal amount thereof beyond the limit set forth
        in the
        Indenture or any other Noteholder Document and (y) exclude the Notes and
        other
        Noteholder Documents and (ii) if at any time a Discharge of First Priority
        Claims occurs with respect to the Credit Agreement (without giving effect
        to
Section
        5.6),
        then,
        to the extent provided in Section
        5.6,
        the
        term "Credit Agreement" shall mean the Future First Lien Credit Facility
        designated by the Borrower in accordance with the terms of such
        section.

       

      "Credit
        Agreement Obligations"
        means
        all Obligations under or pursuant to the Credit Agreement.

       

      "DIP
        Financing"
        is
        defined in Section
        6.1.

       

      
        
          
          

        

        
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      "Discharge
        of First Priority Claims"
        means,
        except to the extent otherwise provided in Sections
        5.6
        and
6.5,
        payment
        in full in cash of (a) the principal of and interest (including interest
        accruing on or after the commencement of any Insolvency Proceeding, whether
        or
        not such interest would be allowed in such Insolvency Proceeding) and premium,
        if any, on all Indebtedness outstanding under the First Lien Credit Facilities
        and, with respect to letters of credit outstanding thereunder, termination
        thereof or delivery of cash collateral or backstop letters of credit in respect
        thereof and for the full amount thereof in compliance with such First Lien
        Credit Facilities, as applicable, in each case after or concurrently with
        termination of all commitments to extend credit thereunder and (b) any other
        First Priority Claims that are due and payable or otherwise accrued and owing
        at
        or prior to the time such principal and interest are paid, in each case other
        than obligations that constitute Unasserted Contingent Obligations at the
        time
        such principal and interest is paid. 

       

      "First
        Lien Credit Facilities"
        means
        (a) the credit facilities provided pursuant to the Credit Agreement and (b)
        any
        other credit facility permitted by Section 4.07(b)(i) of the Indenture, that,
        in
        the case of both clauses
        (a)
        and
(b),
        is
        secured by a Lien permitted pursuant to clause (5) of the definition of
        "Permitted Liens" in Section 1.01 of the Indenture.

       

      "First
        Priority Cash Management Obligations"
        means
        any Cash Management Obligations secured by any Common Collateral under the
        same
        First Priority Collateral Documents that secure Obligations under any First
        Lien
        Credit Facility.

       

      "First
        Priority Claims"
        means
        (a) all Credit Agreement Obligations, (b) all Obligations under one or more
        other First Lien Credit Facilities, the Indebtedness under each of which
        is
        designated by the Borrower as "First Priority Claims" for purposes of the
        Indenture, (c) all other Obligations of the Borrower or any other Obligor
        under
        the First Priority Documents, including all First Priority Hedging Obligations
        and First Priority Cash Management Obligations and (d) all Future Other First
        Lien Obligations. First Priority Claims shall include all interest accrued
        or
        accruing (or which would, absent the commencement of an Insolvency Proceeding,
        accrue) after the commencement of an Insolvency Proceeding in accordance
        with
        and at the rate specified in the relevant First Priority Document whether
        or not
        the claim for such interest is allowed as a claim in such Insolvency Proceeding.
        To the extent any payment with respect to the First Priority Claims (whether
        by
        or on behalf of any Obligor, as proceeds of security, enforcement of any
        right
        of set-off or otherwise) is declared to be fraudulent or preferential in
        any
        respect, set aside or required to be paid to a debtor in possession, trustee,
        receiver or similar Person, then the obligation or part thereof originally
        intended to be satisfied shall be deemed to be reinstated and outstanding
        as if
        such payment had not occurred. Notwithstanding the foregoing the Notes and
        related Obligations will not constitute First Priority Claims and collateral
        therefor will not constitute First Priority Collateral even if any proceeds
        of
        the Notes are used to repay Obligations under the Credit Agreement.
        Notwithstanding anything to the contrary contained in this definition, any
        Obligation under a First Priority Document (including any Cash Management
        Obligation or Hedging Obligation) shall constitute a "First Priority Claim"
        if
        the Administrative Agent or the relevant First Priority Lender or First Priority
        Lenders under such First Priority Document shall have received a written
        representation from the Borrower in or in connection with such First Priority
        Document that such Obligation constitutes a "First Priority Claim" under
        and
        as
        defined in the Indenture (whether or not such Obligation is at any time
        determined not to have been permitted to be incurred under the Indenture).
        

       

      
        
          
          

        

        
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      "First
        Priority Collateral"
        means
        all of the property or assets of any Obligor, whether real, personal or mixed,
        with respect to which a Lien is granted or held as security for any First
        Priority Claim.

       

      "First
        Priority Collateral Documents"
        means
        any agreement, document or instrument pursuant to which a Lien is granted
        securing any First Priority Claim or under which rights or remedies with
        respect
        to such Liens are governed.

       

      "First
        Priority Documents"
        means
        the Credit Agreement, the Loan Documents, the First Priority Collateral
        Documents and each of the other agreements, documents and instruments (including
        each agreement, document or instrument providing for or evidencing a First
        Priority Hedging Obligation or First Priority Cash Management Obligation)
        providing for or evidencing any other Obligation under the Credit Agreement
        or
        any other First Lien Credit Facility or any Future Other First Lien Obligation,
        and any other related document or instrument executed or delivered pursuant
        to
        any First Priority Document at any time or otherwise evidencing any First
        Priority Claim.

       

      "First
        Priority Hedging Obligations"
        means
        any Hedging Obligations secured by any Common Collateral under the same First
        Priority Collateral Documents that secure Obligations under a First Priority
        Credit Facility.

       

      "First
        Priority Lenders"
        means
        the Persons holding First Priority Claims, including the Administrative
        Agent.

       

      "First
        Priority Liens"
        means
        all Liens that secure the First Priority Claims.

       

      "Future
        First Lien Credit Facility"
        shall
        mean the Credit Agreement and any other First Lien Credit Facility that is
        designated by the Borrower as a "First Lien Credit Facility" for purposes
        of the
        Indenture or any other Noteholder Document; provided
        that the
        lenders under any Credit Agreement then in effect have consented to such
        designation.

       

      "Future
        Other First Lien Obligations"
        means
        all Obligations of the Borrower or any other Obligor in respect of Cash
        Management Obligations or Hedging Obligations that are designated by the
        Borrower as "First Priority Claims" as permitted by the Indenture (other
        than
        any First Priority Cash Management Obligations and First Priority Hedging
        Obligations); provided
        that the
        required lenders (however denominated) under any First Lien Credit Facility
        then
        in effect have consented to such designation.

       

      "Hedging
        Obligations"
        has the
        meaning assigned thereto in the Indenture.

       

      "Indebtedness"
        has the
        meaning assigned thereto in the Indenture.

       

      "Indenture"
        is
        defined in the third recital.

       

      
        
          
          

        

        
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      "Insolvency
        Proceeding"
        means
        (a) any voluntary or involuntary case or proceeding under the Bankruptcy
        Code
        with respect to any Obligor as a debtor, (b) any other voluntary or involuntary
        insolvency, reorganization or bankruptcy case or proceeding, or any
        receivership, liquidation, reorganization or other similar case or proceeding
        with respect to any Obligor as a debtor or with respect to any substantial
        part
        of their respective assets, (c) any liquidation, dissolution, reorganization
        or
        winding up of any Obligor, whether voluntary or involuntary and whether or
        not
        involving insolvency or bankruptcy, or (d) any assignment for the benefit
        of
        creditors or any other marshaling of assets and liabilities of any
        Obligor.

       

      "Lenders"
        is
        defined in the first recital.

       

      "Lien"
        means,
        when used with respect to any Person, any interest in any property, asset
        or
        other right owned or being purchased or acquired by such Person which secures
        payment or performance of any obligation, and shall include any mortgage,
        lien,
        encumbrance, charge or other security interest of any kind, whether arising
        by
        contract, as a matter of law, by judicial process or otherwise.

       

      "Loan
        Documents"
        means
        the Credit Agreement, the Loan Documents (as defined in the Credit Agreement),
        and all documents and instruments evidencing any obligation under any Future
        First Lien Credit Facility, and any other related document or instrument
        executed or delivered pursuant to any Loan Document or Future First Lien
        Credit
        Facility at any time or otherwise evidencing any First Priority Claim, as
        any
        such document or instrument may from time to time be amended, supplemented,
        amended and restated or otherwise modified from time to time; provided
        that any
        such modification does not increase the principal amount thereof beyond the
        limit set forth in the Indenture or any other Noteholder Document.

       

      "Noteholder
        Claims"
        means
        all Indebtedness, Obligations and other liabilities (contingent or otherwise)
        arising under or with respect to the Noteholder Documents or any of
        them.

       

      "Noteholder
        Collateral"
        means
        any of the property or assets of the Obligors, whether real, personal or
        mixed,
        in which the Noteholders or the Trustee or any of them now or hereafter holds
        a
        Lien as security for any Noteholder Claim (regardless of the effect of the
        application of any laws relating to fraudulent transfers or
        conveyances).

       

      "Noteholder
        Collateral Documents"
        means,
        collectively, the Noteholder Security Agreements and any document or instrument
        executed and delivered pursuant to any Noteholder Document at any time or
        otherwise pursuant to which a Lien is granted by an Obligor to secure the
        Noteholder Claims or under which rights or remedies with respect to any such
        Lien are governed, as the same may be amended, supplemented, amended and
        restated or otherwise modified from time to time.

       

      "Noteholder
        Documents"
        means,
        collectively, the Indenture, the Notes, the Noteholder Collateral Documents,
        and
        any other related document or instrument executed and delivered pursuant
        to any
        Noteholder Document at any time or otherwise evidencing any Noteholder Claims,
        as the same may be amended, supplemented, amended and restated or otherwise
        modified from time to time.

       

      "Noteholders"
        means
        the Persons holding Noteholder Claims, including the Trustee.

       

      "Noteholder
        Security Agreements"
        means
        (i) the Security Agreement, dated as of November 16, 2004, among the Borrower,
        its Subsidiaries and the Trustee and (ii) the Pledge Agreement dated as of
        November 16, 2004 between the Borrower and the Trustee, in each case as the
        same
        may be amended, supplemented, amended and restated or otherwise modified
        from
        time to time.

       

      
        
          
          

        

        
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      "Notes"
        is
        defined in the third recital.

       

      "Obligations"
        means
        any and all obligations with respect to the payment of (a) any principal
        of or
        interest (including interest accruing on or after the commencement of any
        Insolvency Proceeding, whether or not a claim for post-filing interest is
        allowed in such proceeding) or premium on any Indebtedness, including any
        reimbursement obligation in respect of any letter of credit, (b) any fees,
        indemnification obligations, damages, expense reimbursement obligations or
        other
        liabilities payable under the documentation governing any Indebtedness, (c)
        any
        obligation to post cash collateral in respect of letters of credit and any
        other
        obligations and (d) any Cash Management Obligations or Hedging
        Obligations.

       

      "Obligors"
        means
        the Borrower and each of its Subsidiaries that is party from time to time
        to any
        First Priority Document or Noteholder Document.

       

      "Person"
        means
        any natural person, corporation, partnership, limited liability company,
        trust,
        association, governmental authority or unit, or any other entity, whether
        acting
        in an individual, fiduciary or other capacity.

       

      "Recovery"
        is
        defined in Section
        6.5.

       

      "Standstill
        Period"
        is
        defined in Section
        3.1.

       

      "Subsidiary"
        means,
        with respect to any Person, a corporation, partnership, limited liability
        company or other entity of which such Person and/or its other Subsidiaries
        own,
        directly or indirectly, such number of outstanding shares or other ownership
        interests as have more than 50% of the ordinary voting power for the election
        of
        directors or other managers of such corporation, partnership, limited liability
        company or other entity.

       

      "Trustee"
        shall
        include, in addition to the Trustee defined in the preamble,
        the
        then acting collateral agent under the Indenture and any successor thereto
        exercising substantially the same rights and powers.

       

      "Unasserted
        Contingent Obligations"
        shall
        mean, at any time, Obligations for taxes, costs, indemnifications,
        reimbursements, damages and other liabilities (except for (i) the principal
        of
        and interest and premium (if any) on, and fees relating to, any Indebtedness
        and
        (ii) contingent reimbursement obligations in respect of amounts that may
        be
        drawn under letters of credit) in respect of which no claim or demand for
        payment has been made (or, in the case of  Obligations
        for indemnification, no notice for indemnification has been issued by the
        indemnitee) at such time.

       

      "Uniform
        Commercial Code"
        or
        "UCC"
        means
        the Uniform Commercial Code (or any similar or equivalent legislation) as
        in
        effect in any applicable jurisdiction.

       

      
        
          
          

        

        
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      1.2  Terms
        Generally.
        The definitions of terms herein shall apply equally to the singular and plural
        forms of the terms defined. Whenever the context may require, any pronoun
        shall
        include the corresponding masculine, feminine and neuter forms. The words
        "include",
        "includes"
        and
        "including"
        shall
        be deemed to be followed by the phrase "without
        limitation."
        The
        word "will" shall be construed to have the same meaning and effect as the
        word
        "shall". Unless the context requires otherwise (a) any definition of or
        reference to any agreement, document or other writing herein shall be construed
        as referring to such agreement, document or other writing as from time to
        time
        amended, supplemented or otherwise modified, (b) any reference herein to
        any
        Person shall be construed to include such Person's successors and assigns
        to the
        extent that such successors and assigns are permitted pursuant to the applicable
        agreement, (c) the words "herein",
        "hereof"
        and
        "hereunder",
        and
        words of similar import, shall be construed to refer to this Agreement in
        its
        entirety and not to any particular provision hereof, (d) all references herein
        to Exhibits or Sections shall be construed to refer to Exhibits or Sections
        of
        this Agreement, (e) the words "asset"
        and
        "property"
        shall
        be construed to have the same meaning and effect and to refer to any and
        all
        tangible and intangible assets and properties, including cash, securities,
        accounts and general intangibles, (f) terms defined in the UCC but not otherwise
        defined herein shall have the same meanings herein as are assigned thereto
        in
        the UCC, (g) reference to any law means such law as amended, modified, codified,
        replaced or re-enacted, in whole or in part, and in effect on the date hereof,
        including rules, regulations, enforcement procedures and any interpretation
        promulgated thereunder and (h) underscored references to Sections or clauses
        shall refer to those portions of this Agreement, and any underscored references
        to a clause shall, unless otherwise identified, refer to the appropriate
        clause
        within the same Section in which such reference occurs.

       

      Section
        2.  Lien
        Priorities.

       

      2.1  Relative
        Priorities.
        Notwithstanding the date, manner or order of grant, attachment or perfection
        of
        any Lien granted to the Trustee or the Noteholders on the Common Collateral
        or
        of any Lien granted to the First Priority Lenders on the Common Collateral
        and
        notwithstanding any provision of the UCC or any other applicable law to the
        contrary, the fact that any First Priority Lien may have been subordinated,
        voided, avoided, invalidated or lapsed, or any other circumstance whatsoever,
        the Trustee, on behalf of itself and the Noteholders, hereby agrees that:
        (i)
        any Lien on the Common Collateral securing the First Priority Claims now
        or
        hereafter held by the First Priority Lenders shall be first in priority to
        any
        Lien on the Common Collateral securing the Noteholder Claims; and (ii) any
        Lien
        on the Common Collateral now or hereafter held by the Trustee or the Noteholders
        regardless of how acquired, whether by grant, statute, operation of law,
        subrogation or otherwise, shall be second in priority in all respects to
        all
        Liens on the Common Collateral securing the First Priority Claims. All Liens
        on
        the Common Collateral securing the First Priority Claims shall be and remain
        first in priority to all Liens on the Common Collateral securing the Noteholder
        Claims for all purposes, whether or not
        such
        First Priority Liens are subordinated to any Lien securing any other obligation
        of any Obligor. 

       

      2.2  Prohibition
        on Contesting Liens.
        Each of the Trustee, for itself and on behalf of each Noteholder, and the
        Administrative Agent, for itself and on behalf of each other First Priority
        Lender, agrees that it shall not (and hereby waives any right to) contest
        or
        support any other Person in contesting, in any proceeding (including any
        Insolvency Proceeding), the priority, validity or enforceability of a Lien
        held
        by the First Priority Lenders in the Common Collateral or by the Noteholders
        in
        the Common Collateral, as the case may be.

       

      
        
          
          

        

        
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      2.3  No
        New
        Liens.
        So long as the Discharge of First Lien Obligations has not occurred, the
        parties
        hereto agree that the Obligors shall not (i) grant or permit any additional
        Lien
        on any asset or property to secure any Noteholder Claim unless it has granted
        a
        Lien on such asset or property to secure the First Priority Claims, and (ii)
        grant or permit any additional Lien on any asset to secure any First Priority
        Claim unless it has granted a Lien on such asset to secure the Noteholder
        Claims. To the extent that the foregoing provisions are not complied with
        for
        any reason, without limiting any other rights and remedies available to the
        Administrative Agent and/or the First Priority Lenders, the Trustee, on behalf
        of the Noteholders, agrees that any amounts received by or distributed to
        any of
        them pursuant to or as a result of Liens granted in contravention of this
        Section
        2.3
        shall be
        subject to Section
        4.2.

       

      2.4  Similar
        Liens and Agreements.
        The parties hereto agree that it is their intention that the First Priority
        Collateral and the Noteholder Collateral be identical. In furtherance of
        the
        foregoing and of Section
        8.10,
        the
        parties hereto agree, subject to the other provisions of this
        Agreement:

       

      (a)  upon
        request by the Administrative Agent or the Trustee, to cooperate in good
        faith
        (and to direct their counsel to cooperate in good faith) from time to time
        in
        order to determine the specific items included in the First Priority Collateral
        and the Noteholder Collateral and the steps taken to perfect their respective
        Liens thereon and the identity of the respective parties obligated under
        the
        First Priority Collateral Documents and the Noteholder Collateral Documents;
        and

       

      (b)  that
        the
        documents and agreements creating or evidencing the First Priority Collateral
        and the Noteholder Collateral and guarantees for the First Priority Claims
        and
        the Noteholder Claims shall be in all material respects the same forms of
        documents other than with respect to the first lien and the second lien nature
        of the Obligations thereunder.

       

      Section
        3.  Enforcement.

       

      3.1  Exercise
        of Remedies.(a)
        So long
        as the Discharge of First Priority Claims has not occurred, whether or not
        any
        Insolvency Proceeding has been commenced by or against any Obligor, (i) the
        Trustee and the Noteholders will not exercise or seek to exercise any rights
        or
        remedies (including the exercise of any right of setoff or any right under
        any
        lockbox agreement, account control agreement, landlord waiver or bailee's
        letter
        or similar agreement or arrangement to which the Trustee or any Noteholder
        is a
        party) with respect to 

       

      
        
          
          

        

        
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      any
        Common Collateral (and hereby waives any right to), institute any action
        or
        proceeding with respect to such rights or remedies, including any action
        of
        foreclosure, or contest, protest or object to any foreclosure proceeding
        or
        action brought by the Administrative Agent or any other First Priority Lender,
        any exercise of any right under any control agreement in respect of a deposit
        account or securities entitlement constituting Common Collateral, or any
        bailee's letter or similar agreement or arrangement to which the Trustee
        or any
        Noteholder is a party, or any other exercise by any such party, of any rights
        and remedies relating to the Common Collateral under the Noteholder Documents
        or
        otherwise, or object to the forbearance by the Administrative Agent from
        bringing or pursuing any foreclosure proceeding or action or any other exercise
        of any right or remedy relating to the Common Collateral, in each case so
        long
        as the respective interests of the Noteholders attach to the proceeds thereof
        subject to the relative priorities described in Section
        2
        and (ii)
        the Administrative Agent and the other First Priority Lenders shall have
        the
        exclusive right to enforce rights, exercise remedies (including the exercise
        of
        any right of setoff or any right under any lockbox agreement, account control
        agreement, landlord waiver or bailee's letter or similar agreement or
        arrangement to which the Trustee or any Noteholder is a party), refrain from
        enforcing or exercising remedies, and make determinations regarding release
        or
        disposition of the Common Collateral without the consent of or any consultation
        with the Trustee or any Noteholder; provided
        that (A)
        in any Insolvency Proceeding commenced by or against any Obligor, the Trustee
        or
        any Noteholder may file a claim or statement of interest with respect to
        the
        Noteholder Claims, (B) the Trustee or any Noteholder may take any action
        not
        adverse to the Liens on the Common Collateral securing the First Priority
        Claims
        or the rights of the Administrative Agent or any other First Priority Lender
        to
        exercise remedies in respect thereof in order to establish, preserve, perfect
        or
        protect its rights in the Common Collateral and (C) the Trustee and the
        Noteholders shall be entitled to (i) file any necessary responsive or defensive
        pleading in opposition to any motion, claim, adversary proceeding or other
        pleading made by any person objecting to or otherwise seeking the disallowance
        of the claims of the Noteholders, including without limitation any claim
        secured
        by the Common Collateral, if any, in each case in accordance with the terms
        of
        this Agreement, (ii) file any pleadings, objections, motions or agreements
        which
        assert rights or interests available to unsecured creditors of the Obligors
        arising under the Bankruptcy Code, any similar law or any applicable
        non-bankruptcy law, in each case in accordance with the terms of this Agreement
        (iii) exercise any rights and remedies as an unsecured creditor against the
        Borrower or any other Obligor in accordance with the Noteholder Documents
        and
        applicable law, (iv) bid (cash) for or purchase (for cash) Common Collateral
        at
        any private or judicial foreclosure upon such Common Collateral initiated
        by any
        secured party in respect thereof, (v) file any notice of or vote any claim
        in
        any Insolvency Proceeding of any Obligor in accordance with this Agreement
        and
        (vi) file any proof of claim and other filings, appear and be heard on any
        matter in connection therewith and make any arguments and motions that are,
        in
        each case, in accordance with the terms of this Agreement, with respect to
        the
        Noteholder Claims and the Noteholder Collateral, (D) nothing herein shall
        be
        construed to limit or impair in any way the right of the Trustee or the
        Noteholders to receive any remaining Common Collateral and proceeds of Common
        Collateral after the Discharge of First Priority Claims has occurred and
        (E)
        notwithstanding anything to the contrary in this Section
        3.1(a),
        the
        Trustee and the Noteholders may exercise any or all such rights and remedies
        and
        take or institute all such other actions in respect of the Common Collateral
        and
        make such determinations after the passage of a period of 180 days (the
        "Standstill
        Period")
        from
        the date of delivery of a notice in writing to the Administrative Agent of
        their
        intention to 

       

      
        
          
          

        

        
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      exercise
        their right to take such actions in respect of such Common Collateral;
provided
        further,
        however,
        that
        notwithstanding anything herein to the contrary, in no event shall the Trustee
        or any Noteholder exercise any rights or remedies or take such other actions
        with respect to the Common Collateral as aforesaid if, notwithstanding the
        expiration of the Standstill Period, the Administrative Agent or any other
        First
        Priority Lender shall have commenced and shall be diligently pursuing the
        exercise of any of their rights or remedies with respect to the Common
        Collateral (prompt notice of such exercise to be given to the Trustee). In
        exercising rights and remedies with respect to the Common Collateral, the
        Administrative Agent or any other First Priority Lender may enforce the
        provisions of the Loan Documents and exercise remedies thereunder, all in
        such
        order and in such manner as they may determine in the exercise of their sole
        discretion. Such exercise and enforcement shall include the rights of an
        agent
        appointed by the Administrative Agent and the other First Priority Lenders
        to
        sell or otherwise dispose of Common Collateral upon foreclosure, to incur
        expenses in connection with such sale or disposition, and to exercise all
        the
        rights and remedies of a secured party under the UCC of any applicable
        jurisdiction and of a secured creditor under bankruptcy or similar laws of
        any
        applicable jurisdiction.

       

      (b)  The
        Trustee, on behalf of itself and the Noteholders, agrees that it will not,
        in
        connection with the exercise of any right or remedy (including the exercise
        of
        any right of setoff or any right under any lockbox agreement, account control
        agreement, landlord waiver or bailee's letter or similar agreement or
        arrangement to which the Trustee or any Noteholder is a party) with respect
        to
        any Common Collateral, take or receive any Common Collateral or any proceeds
        of
        Common Collateral unless and until the Discharge of First Priority Claims
        has
        occurred. Without limiting the generality of the foregoing, unless and until
        the
        Discharge of First Priority Claims has occurred, except as expressly provided
        in
        the proviso
        in
clause
        (a)(ii)
        of
Section
        3.1,
        the
        sole right of the Trustee and the Noteholders as secured parties with respect
        to
        the Common Collateral is to hold a perfected Lien on the Common Collateral
        pursuant to the Noteholder Documents for the period and to the extent granted
        therein and to receive a share of the proceeds thereof, if any, after the
        Discharge of the First Priority Claims has occurred.

       

      (c)  The
        Borrower agrees that it will not, and will not permit any other Obligor to,
        in
        connection with the exercise of any right or remedy with respect to any Common
        Collateral by the Trustee or the Noteholders, transfer, deliver or pay, as
        applicable, to the Trustee or any Noteholder any Common Collateral or any
        proceeds of Common Collateral unless and until the Discharge of First Priority
        Claims has occurred.

       

      (d)  Subject
        to the proviso
        in
clause
        (a)(ii)
        of
Section
        3.1,
        (i) the
        Trustee, for itself and on behalf of the Noteholders, agrees that the Trustee
        and the Noteholders will not take any action that would hinder or cause to
        delay
        any exercise of remedies undertaken by the Administrative Agent or any other
        First Priority Lender under the Loan Documents as secured parties in respect
        of
        any Common Collateral, including any sale, lease, exchange, transfer or other
        disposition of the Common Collateral, whether by foreclosure or otherwise,
        and
        (ii) the Trustee, for itself and on behalf of the Noteholders, hereby waives
        any
        and all rights it or the Noteholders may have as a junior lien creditor or
        otherwise (whether arising under the UCC or any other law) to object to the
        manner in which the Administrative Agent or the other holders of First Priority
        Claims seek to enforce the Liens granted in any of the First Priority
        Collateral.

       

      (e)  The
        Trustee and the Noteholders hereby acknowledge and agree that no covenant,
        agreement or restriction contained in the Noteholder Collateral Documents
        or any
        other Noteholder Document (other than this Agreement) is intended to restrict
        in
        any way the rights and remedies of the Administrative Agent or the First
        Priority Lenders with respect to the Common Collateral as set forth in this
        Agreement and the First Priority Documents.

       

      3.2  Cooperation.
        Subject to the proviso
        in
clause
        (a)(ii)
        of
Section
        3.1,
        the
        Trustee, on behalf of itself and the Noteholders, agrees that, unless and
        until
        the Discharge of First Priority Claims has occurred, it will not commence,
        or
        join with any Person in commencing any enforcement, collection, execution,
        levy
        or foreclosure action or proceeding with respect to any Lien held by it under
        any Noteholder Document.

       

      
        
          
          

        

        
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      3.3  Notices
        of Default.
        Each of the Administrative Agent and the Trustee will provide such information
        as it may have to the other as the other may from time to time reasonably
        request concerning the status of the exercise of any enforcement action against
        the Common Collateral, and the Administrative Agent and the Trustee shall
        be
        available on a reasonable basis during normal business hours to review with
        each
        other alternatives available in exercising such rights; provided
        that the
        failure of any party to do any of the foregoing shall not affect the relative
        priorities of the Administrative Agent's or the Trustee's respective Liens
        as
        provided herein or the validity or effectiveness of any notice or demand
        as
        against any Obligor. The Borrower hereby consents and agrees to each of the
        Administrative Agent and the Trustee providing any such information to the
        other
        and to such actions by the Administrative Agent and the Trustee and waives
        any
        right or claim against the Administrative Agent and the Trustee arising as
        a
        result of such information or actions.

       

      Section
        4.  Payments.

       

      4.1  Application
        of Proceeds.
        As long as the Discharge of First Priority Claims has not occurred, whether
        or
        not any Insolvency Proceeding has been commenced by or against any Obligor,
        the
        cash proceeds of Common Collateral received in connection with the sale or
        other
        disposition of, or collection on, such Common Collateral upon the exercise
        of
        remedies, shall be applied by the Administrative Agent to the First Priority
        Claims in such order as specified in the Credit Agreement until Discharge
        of
        First Priority Claims has occurred. Upon Discharge of the First Priority
        Claims,
        the Administrative Agent shall deliver to the Trustee (for application in
        such
        order as specified in the Indenture and the other applicable Noteholder
        Documents) any proceeds of Common Collateral held by it in the same form
        as
        received, with any necessary endorsement or as a court of competent jurisdiction
        may otherwise direct.

       

      4.2  Payments
        Over.
        So long as the Discharge of the First Priority Claims has not occurred, whether
        or not any Insolvency Proceeding has been commenced by or against the Borrower
        or any other Obligor, any Common Collateral or proceeds thereof (including
        assets or proceeds subject to Liens referred to in the final sentence of
        Section 2.3)
        received by the Trustee or any Noteholder in connection with the exercise
        of any
        right or remedy (including set-off) relating to the Common Collateral in
        contravention of this Agreement shall be segregated and held in trust and
        forthwith paid over to the Administrative Agent for the benefit of the First
        

       

      
        
          
          

        

        
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      Priority
        Lenders in the same form as received, with any necessary endorsement, or
        as a
        court of competent jurisdiction may otherwise direct. The Administrative
        Agent
        is hereby authorized to make any such endorsement as agent for the Trustee
        or
        any such Noteholder. This authorization is coupled with an interest and is
        irrevocable until the Discharge of First Priority Claims has
        occurred.

       

      Section
        5.  Other
        Agreements.

       

      5.1  Releases.  
        

       

      (a)  Other
        than in connection with the Discharge of First Priority Claims (unless such
        Discharge of First Priority Claims is made with proceeds from a sale or other
        disposition of Collateral, whether as a result of enforcement thereof by
        a
        secured party or otherwise), if, in connection with (i) the exercise of any
        remedies by the Administrative Agent in respect of the Common Collateral
        provided for in Section
        3.1,
        including any sale, lease, exchange, transfer or other disposition of any
        such
        Common Collateral or (ii) any sale, lease, exchange, transfer or other
        disposition of any Common Collateral permitted under the terms of the First
        Priority Documents, the Administrative Agent, for itself or on behalf of
        any of
        the First Priority Lenders, releases any of its Liens on any part of the
        Common
        Collateral, the Lien of the Trustee for the benefit of the Noteholders on
        such
        Common Collateral (but not on any proceeds of such Collateral not required
        to be
        paid to the First Priority Lenders for application to the First Priority
        Claims)
        shall be automatically and unconditionally released with no further consent
        or
        action of any Person, and the Trustee, for itself and on behalf of the
        Noteholders, shall promptly execute and deliver to the Administrative Agent
        and
        the Obligors such termination statements, releases and other documents as
        the
        Administrative Agent and the Borrower may reasonably request to effectively
        confirm such release.

       

      (b)  Until
        the
        Discharge of First Priority Claims occurs, the Trustee, for itself and on
        behalf
        of the Noteholders, hereby irrevocably constitutes and appoints the
        Administrative Agent and any officer or agent of the Administrative Agent,
        with
        full power of substitution, as its true and lawful attorney-in-fact with
        full
        irrevocable power and authority in the place and stead of the Trustee or
        such
        Noteholder or in the Administrative Agent's own name, from time to time in
        the
        Administrative Agent's discretion, for the purpose of carrying out the terms
        of
        this Section
        5.1,
        to take
        any and all appropriate action and to execute any and all releases, documents
        and instruments which may be necessary to accomplish the purposes of this
        Section
        5.1,
        including any financing statements, mortgage releases, intellectual property
        releases, endorsements or other instruments of transfer or release.

       

      5.2  Insurance.
        Unless
        and until the Discharge of First Priority Claims has occurred, the
        Administrative Agent and the other holders of First Priority Claims shall
        have
        the sole and exclusive right, subject to the rights of the Obligors under
        the
        Loan Documents, to adjust settlement for any insurance policy covering the
        Common Collateral in the event of any loss thereunder and to approve any
        award
        granted in any condemnation or similar proceeding affecting the Common
        Collateral. Unless and until the Discharge of First Priority Claims has
        occurred, all proceeds of any such policy and any such award if in respect
        to
        the Common Collateral shall be paid to the Administrative Agent for the benefit
        of the First Priority Lenders to the extent required under the Credit Agreement
        and pursuant to the terms of the First Priority 

       

      
        
          
          

        

        
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      Documents
        and thereafter, to the extent the Discharge of First Priority Claims has
        occurred, to the Trustee for the benefit of the Noteholders to the extent
        required under the applicable Noteholder Documents and then to the owner
        of the
        subject property or as a court of competent jurisdiction may otherwise direct.
        Unless the Discharge of First Priority Claims has occurred, if the Trustee
        or
        any Noteholder shall, at any time, receive any proceeds of any insurance
        policy
        or any award or payment thereunder in contravention of this Agreement, it
        shall
        pay such proceeds, award or payment over to the Administrative Agent in
        accordance with Section
        4.2.

       

      5.3  Amendments
        to Noteholder Collateral Documents.

       

      (a)  Unless
        and until the Discharge of First Priority Claims has occurred, without the
        prior
        written consent of the Administrative Agent, no Noteholder Collateral Document
        may be amended, supplemented or otherwise modified or entered into to the
        extent
        such amendment, supplement or modification, or the terms of any new Noteholder
        Collateral Document, would contravene any of the terms of this Agreement
        or the
        Loan Documents. The Trustee agrees that each Noteholder Collateral Document
        shall include the following language:

       

      "Notwithstanding
        anything herein to the contrary, the lien and security interest granted to
        the
        Trustee pursuant to this Agreement and the exercise of any right or remedy
        by
        the Trustee hereunder are subject to the provisions of the Intercreditor
        Agreement, dated as of November 16, 2004 (as amended, supplemented, amended
        and
        restated or otherwise modified from time to time, the "Intercreditor
        Agreement")
        among
        LaSalle Bank National Association, as Administrative Agent, Wells Fargo Bank,
        N.A., as Trustee, and Integrated Alarm Services Group, Inc. In the event
        of any
        conflict between the terms of the Intercreditor Agreement and this Agreement,
        the terms of the Intercreditor Agreement shall govern and control."

       

      (b)  In
        the
        event the Administrative Agent enters into any amendment, waiver or consent
        in
        respect of any First Priority Collateral Document for the purpose of adding
        to,
        or deleting from, or waiving or consenting to any departure from any provision
        of, any First Priority Collateral Document or changing in any manner the
        rights
        of the Administrative Agent, the other First Priority Lenders or the Obligors
        thereunder, then such amendment, waiver or consent shall apply automatically
        to
        any comparable provision of the Comparable Noteholder Collateral Document
        without the consent of the Trustee or the Noteholders and without any action
        by
        the Trustee or any Obligor; provided
        that (A)
        no such amendment, waiver or consent shall have the effect of (i) removing
        assets subject to the Lien of the Noteholder Collateral Documents, except
        to the
        extent that a release of such Lien is permitted by Section
        5.1
        and
        provided there is a corresponding release of the Lien securing the First
        Priority Claims, (ii) imposing duties on the Trustee without its consent,
        (iii)
        permitting other Liens on the Collateral not permitted under the terms of
        the
        Indenture or Section
        6
        or (iv)
        increasing the aggregate principal amount of the Credit Agreement Obligations
        in
        excess of the amount permitted by Section 4.07(b)(i) of the Indenture, (B)
        any
        such amendment, waiver or consent that materially and adversely affects the
        rights of the Trustee and the Noteholders (and not the holders of the First
        Priority Liens in a like or similar manner) shall not apply to the Noteholder
        Collateral Documents without the consent of the Trustee (acting at the direction
        of the holders of a majority of the aggregate principal amount of
        the
        applicable Noteholder Claims) and (C) notice of such amendment, waiver or
        consent shall have been given to the Trustee within 10 Business Days after
        the
        effective date thereof; provided,
        further,
        that
        (x) nothing contained in this clause
        (b)
        shall
        impair the rights of the Administrative Agent and the holders of First Priority
        Claims, or the obligations and agreements of the Trustee and Noteholders,
        under
Sections
        3
        and
5.1
        and (y)
        the First Priority Collateral Documents and Noteholder Collateral Documents
        may,
        without the consent of the Trustee or the Noteholders, be amended or modified
        pursuant to this Section
        5.3(b)
        to
        secure additional extensions of credit and add additional secured creditors
        as
        long as such amendments or modifications do not violate the express provisions
        of the Indenture or any other Noteholder Document.

       

      
        
          
          

        

        
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      (c)  The
        First
        Priority Documents may be amended, supplemented or otherwise modified in
        accordance with their terms and the Credit Agreement may be refinanced (subject
        to the limits set forth in the Indenture), in each case, without notice to,
        or
        the consent of the Trustee or the Noteholders subject to the terms hereof,
        all
        without affecting the lien subordination or other provisions of this
        Agreement.

       

      5.4  Rights
        As Unsecured Creditors.
        Notwithstanding anything to the contrary in this Agreement, the Trustee and
        the
        Noteholders may exercise rights and remedies as unsecured creditors against
        the
        Obligors in accordance with the terms of the Noteholder Documents and applicable
        law. Nothing in this Agreement shall prohibit the receipt by the Trustee
        or any
        Noteholder of any payment of interest and principal on the Notes so long
        as such
        receipt is not the direct or indirect result of the exercise by the Trustee
        or
        any Noteholder of rights and remedies as a secured creditor or enforcement
        of
        any Lien held by them on Common Collateral, in either case in contravention
        of
        this Agreement. In the event that the Trustee or any Noteholder becomes a
        judgment lien creditor in respect of Common Collateral as a result of its
        enforcement of its rights as an unsecured creditor, such judgment lien shall
        be
        subject to the terms of this Agreement (including in relation to the First
        Priority Liens and the First Priority Claims) to the same extent as the other
        Liens securing the Noteholder Claims (created pursuant to the Noteholder
        Collateral Documents) subject to this Agreement. Nothing in this Agreement
        modifies any rights or remedies the holders of First Priority Claims may
        have
        with respect to the First Priority Collateral.

       

      5.5  Bailee
        for Perfection.
        The Administrative Agent hereby acknowledges that, to the extent that it
        holds,
        or a third party holds on its behalf, physical possession of or "control"
        (as
        defined in the UCC) over Common Collateral pursuant to any of the First Priority
        Collateral Documents, such possession or control is also held as a bailee
        for
        and for the benefit of the Trustee and the Noteholders (such bailment being
        intended, among other things, to satisfy the requirements of Sections
        8-301(a)(2) and 9-313(c) of the UCC) and in each case solely to the extent
        required to perfect and enforce their security interests in such Common
        Collateral. Nothing in the preceding sentence shall be construed to impose
        any
        duty on the Administrative Agent (or any third party acting on its behalf)
        with
        respect to such Common Collateral or provide the Trustee or any Noteholder
        with
        any rights with respect to such Common Collateral beyond those specified
        in this
        Agreement or the Noteholder Collateral Documents (it
        being understood that
        the
        Administrative Agent's duty under this Section
        5.5
        shall be
        limited solely to holding any such Common Collateral as bailee), provided
        that
        forthwith upon the Discharge of First Priority Claims, the Administrative
        Agent
        shall (x) deliver to the Trustee, at the Obligors' sole cost and expense,
        the Common Collateral in its possession or control together with any necessary
        endorsements or (y) direct and deliver such Common Collateral as a court
        of
        competent jurisdiction may otherwise direct.

       

      5.6  When
        Discharge of First Priority Claims Deemed to Not Have
        Occurred.
        If at
        any time after the Discharge of First Priority Claims has occurred the Borrower
        designates any Future First Lien Credit Facility to be the "Credit Agreement"
        hereunder, then such Discharge of First Priority Claims shall automatically
        be
        deemed not to have occurred for all purposes of this Agreement (other than
        with
        respect to any actions taken prior to the date of such designation as a result
        of the occurrence of such first Discharge of First Priority Claims), and
        such
        Future First Lien Credit Facility shall automatically be treated as the Credit
        Agreement for all purposes of this Agreement, including for purposes of the
        Lien
        priorities and rights in respect of Collateral set forth herein; provided,
        however,
        that
        the Borrower is permitted to enter into such Future First Lien Credit Facility
        under Section 4.07(b)(i) of the Indenture; and provided
        further
        that no
        designation of any Future First Lien Credit Facility shall apply retroactively
        and the Trustee and the Noteholder shall be entitled to retain any collateral
        proceeds or other payments or property received by them prior to the designation
        of such Future First Lien Credit Facility. Upon receipt of notice of such
        designation (including the identity of the new Administrative Agent), the
        Trustee shall promptly deliver to the Administrative Agent any Common Collateral
        in its physical possession or "control" (within as defined in the UCC) together
        with any necessary endorsements (or otherwise allow such Administrative Agent
        to
        obtain control of such Common Collateral). If the Obligations under a Future
        First Lien Credit Facility are secured by assets of the Obligors of the type
        constituting Common Collateral that do not also secure the Noteholder Claims,
        then the Notes shall be secured at such time by a second priority Lien on
        such
        assets to the same extent provided in the Noteholder Collateral Documents
        and in
        accordance with Section
        2.3.

       

      
        
          
          

        

        
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      5.7  Purchase
        Right.
        Without
        prejudice to the enforcement of the remedies of the First Priority Lenders,
        the
        First Priority Lenders agree at any time following an acceleration of the
        First
        Priority Claims in accordance with the terms of the Credit Agreement, the
        First
        Priority Lenders will offer the Noteholders the option to purchase the aggregate
        amount of outstanding First Priority Claims at par, without warranty or
        representation or recourse, on a pro rata basis across the First Priority
        Lenders. The Noteholders shall irrevocably accept or reject such offer within
        fifteen Business Days of the receipt thereof and the parties shall close
        within
        twenty Business Days after any such acceptance of such offer. If the Noteholders
        accept such offer, it shall be exercised pursuant to documentation mutually
        acceptable to each of the Administrative Agent and the Trustee. If the
        Noteholders reject such offer or do not irrevocably accept such offer within
        the
        required time frame, the First Priority Lenders shall have no further obligation
        pursuant to this Section
        5.7
        and may
        take any further actions in its sole discretion in accordance with the First
        Priority Documents and this Agreement.

       

      Section
        6.  Insolvency
        Proceedings.

       

      6.1  Finance
        and Sale Issues.
        Until the Discharge of First Priority Claims has occurred, if any Obligor
        shall
        be subject to any Insolvency Proceeding and the holders of a majority in
        principal amount of the First Priority Claims shall desire to permit the
        use of
        cash collateral or to permit the Borrower to obtain financing under Section
        363
        or Section 364 of the Bankruptcy
        Code ("DIP
        Financing"),
        then
        the Trustee, on behalf of itself and the Noteholders, agrees that it will
        raise
        no objection to such use of cash collateral or DIP Financing and will not
        request adequate protection or any other relief in connection therewith (except
        as expressly agreed by the Administrative Agent or to the extent permitted
        by
Section
        6.3)
        and, to
        the extent the First Priority Liens are junior in priority or pari passu
        with
        such DIP Financing, will maintain the priority of its Liens in the Common
        Collateral as junior in priority to such First Priority Liens on the same
        basis
        as the other Liens securing the Noteholder Claims are second in priority
        to
        First Priority Liens under this Agreement; provided,
        however,
        that
        the Noteholders may object to such DIP Financing if (i) the aggregate principal
        amount of such DIP Financing plus the aggregate principal amount of the Credit
        Agreement (including, in each case, amounts available for drawing thereunder
        during the pendency of such Insolvency Proceeding) would exceed $45,000,000
        or
        (ii) the Noteholders are not permitted to retain a Lien on the Common Collateral
        (including proceeds thereof arising after the commencement of such proceeding)
        with the same priority as existed prior to the commencement of the case under
        the Bankruptcy Code (subject to the Liens securing such DIP Financing as
        described above). Until the Discharge of First Priority Claims has occurred,
        the
        Trustee and the Noteholders shall not, in any Insolvency Proceeding or
        otherwise, oppose any sale or disposition of any assets of any of the Obligors
        that is supported by the First Priority Lenders, and each of the Trustee
        and
        each Noteholder will be deemed to have consented under Section 363 of the
        Bankruptcy Code to any sale supported by the First Priority Lenders and to
        have
        released their Liens in such assets so long as and to the extent that (x)
        the
        First Priority Lenders shall have likewise released their Liens and (y) the
        Liens of the First Priority Lenders and the Trustee shall attach to the proceeds
        of any Common Collateral sold or disposed of.

       

      
        
          
          

        

        
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      6.2  Relief
        from the Automatic Stay.
        While any amounts are outstanding under the Loan Documents or any commitment
        under any DIP Financing provided by any First Lien Lender is in effect, the
        Trustee, on behalf of itself and the Noteholders, agrees that none of them
        shall
        seek relief from the automatic stay or any other stay in any Insolvency
        Proceeding in respect of the Common Collateral, without the prior written
        consent of the Administrative Agent.

       

      6.3  Adequate
        Protection.
        The
        Trustee, on behalf of itself and the Noteholders, agrees that none of them
        shall
        contest (or support any other Person in contesting) (a) any request by the
        Administrative Agent or the other First Priority Lenders for adequate protection
        or (b) any objection by the Administrative Agent or the other First Priority
        Lenders to any motion, relief, action or proceeding which objection is based
        on
        the Administrative Agent or the other First Priority Lenders claiming a lack
        of
        adequate protection. Notwithstanding any provision to the contrary in this
        Agreement, in any Insolvency Proceeding (i) if the holders of First Priority
        Claims (or any subset thereof) are granted adequate protection in the form
        of
        additional collateral in connection with any DIP Financing or use of their
        cash
        collateral under Section 363 or Section 364 of the Bankruptcy Code, then
        the
        Trustee, on behalf of itself or any of the Noteholders, may seek or request
        adequate protection in the form of a Lien on such additional collateral
        (including by way of objecting to any DIP Financing that does not provide
        for
        such Lien), which Lien will be junior in priority to the First Priority Liens
        and such DIP Financing (and all Obligations relating thereto) on the same
        basis
        as the other Liens securing the Noteholder Claims are junior in priority
        to the
        First Priority Liens under this Agreement, (ii) in the event the Trustee,
        on
        behalf of itself and the Noteholders, seeks or requests adequate protection
        and
        such adequate protection is granted in the form of additional collateral,
        then
        the Trustee, on behalf of itself or any of the 

      Noteholders,
        agrees that the holders of First Priority Claims shall also be granted a
        Lien on
        such additional collateral as security for the First Priority Claims and
        any
        such DIP Financing and that any Lien on such additional collateral securing
        the
        Noteholder Claims shall be junior in priority to the Liens on such collateral
        securing the First Priority Claims and any such DIP Financing (and all
        Obligations relating thereto) and any other Liens granted to the holders
        of
        First Priority Claims as adequate protection on the same basis as the other
        Liens securing the Noteholder Claims are junior in priority to such First
        Priority Claims under this Agreement and (iii) the Noteholders may seek
        post-petition interest and/or adequate 

       

      
        
          
          

        

        
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      protection
        payments in any Insolvency Proceeding, and the First Priority Lenders may
        oppose
        such motions. If the Noteholders are granted post-petition interest and/or
        adequate protection payments in an Insolvency Proceeding ("Junior
        Priority Bankruptcy Payments"),
        such
        amounts shall be deemed Common Collateral and shall be applied according
        to the
        terms of this Agreement. For the avoidance of doubt, the Trustee and
        Administrative Agent agree that any Junior Priority Bankruptcy Payments shall
        be
        paid by the Trustee to the Administrative Agent as if they were proceeds
        of
        Common Collateral under this Agreement. Such Junior Priority Bankruptcy Payments
        shall be applied by the Administrative Agent to the First Priority Claims.
        Upon
        a Discharge of First Priority Claims, and only then, such Junior Priority
        Bankruptcy Payments shall be retained by the Trustee for the benefit of the
        Noteholders.

       

      6.4  No
        Waiver.
        Subject to Section
        3.1(a),
        nothing
        contained herein shall prohibit or in any way limit the Administrative Agent
        or
        any other First Priority Lender from objecting in any Insolvency Proceeding
        or
        otherwise to any action taken by the Trustee or any of the Noteholders,
        including the seeking by the Trustee or any Noteholder of adequate protection
        or
        the asserting by the Trustee or any Noteholder of any of its rights and remedies
        under the Noteholder Documents or otherwise. 

       

      6.5  Preference
        Recoveries.
        If any
        First Priority Lender is required in any Insolvency Proceeding or otherwise
        to
        turn over or otherwise pay to the estate of any Obligor any amount as a
        preference (a "Recovery"),
        then
        the First Priority Claims shall be reinstated to the extent of such Recovery.
        If
        this Agreement shall have been terminated prior to such Recovery, this Agreement
        shall be reinstated in full force and effect, and such prior termination
        shall
        not diminish, release, discharge, impair or otherwise affect the obligations
        of
        the parties hereto from such date of reinstatement.

       

      6.6  Reorganization
        Securities.
        If, in
        any Insolvency Proceeding, debt obligations of the reorganized debtor secured
        by
        Liens upon any property of the reorganized debtor are distributed, pursuant
        to a
        plan of reorganization or similar dispositive restructuring plan, both on
        account of First Priority Claims and on account of Noteholder Claims, then,
        to
        the extent the debt obligations distributed on account of the First Priority
        Claims and on account of the Noteholder Claims are secured by Liens upon
        the
        same property, the provisions of this Agreement will survive the distribution
        of
        such debt obligations pursuant to such plan and will apply with like effect
        to
        the Liens securing such debt obligations.

       

      6.7  Post-Petition
        Interest.
        (a) Neither the Trustee nor any Noteholder shall oppose or seek to challenge
        any
        claim by the Administrative Agent or any First Priority Lender for allowance
        in
        any Insolvency Proceeding of the First priority Claims consisting of
        post-petition interest,
        fees or expenses to the extent of the value of any First Priority Lien, without
        regard to the existence of the Lien of the Trustee or the Noteholders on
        the
        Common Collateral.

       

      (b) Neither
        the Administrative Agent nor any other First Priority Lender shall oppose
        or
        seek to challenge any claim by the Trustee or any Noteholder for allowance
        in
        any Insolvency Proceeding of Obligations consisting of post-petition interest,
        fees or expenses to the extent of the value of the Lien of the Trustee and
        the
        Noteholders on the Common Collateral (after taking into account the First
        Priority Collateral).

       

      6.8  Waiver.
        The
        Trustee, for itself and on behalf of the Noteholders, waives any claim it
        may
        hereafter have against any First Priority Lender arising out of the election
        of
        any First Priority Lender of the application of Section 1111(b)(2) of the
        Bankruptcy Code, and/or out of any cash collateral or financing arrangement
        or
        out of any grant of a security interest in connection with the Common Collateral
        in any Insolvency Proceeding.

       

      
        
          
          

        

        
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      6.9  Separate
        Grants of Security and Separate Classification.
        The
        Trustee, for itself and on behalf of the Noteholders, and the Administrative
        Agent for itself and on behalf of the First Priority Lenders, acknowledge
        and
        agree that:

       

      (a) the
        grants of Liens pursuant to the First Priority Collateral Documents and the
        Noteholder Collateral Documents constitute two separate and distinct grants
        of
        Liens; and

      

      (b) because
        of, among other things, their differing rights in the Common Collateral,
        the
        Noteholder Claims are fundamentally different from the First Priority Claims
        and
        must be separately classified in any plan of reorganization proposed or adopted
        in an Insolvency Proceeding. 

      

      To
        further effectuate the intent of the parties as provided in the immediately
        preceding sentence, if it is held that, contrary to the intention of the
        parties, the claims of the First Priority Lenders and the Noteholders in
        respect
        of the Common Collateral constitute only one secured claim (rather than separate
        classes of senior and junior secured claims), then each of the parties hereto
        hereby acknowledges and agrees that, subject to Sections
        2.1
        and
4.1,
        all
        distributions shall be made as if there were separate classes of senior and
        junior secured claims against the Obligors in respect of the Common Collateral
        (with the effect being that, to the extent that the aggregate value of the
        Common Collateral is sufficient (for this purpose ignoring all claims held
        by
        the Noteholders), the First Priority Lenders shall be entitled to receive,
        in
        addition to amounts distributed to them in respect of principal, pre-petition
        interest and other claims, all amounts owing in respect of post-petition
        interest, including any additional interest payable pursuant to the Credit
        Agreement, arising from or related to a default, which is disallowed as a
        claim
        in any Insolvency Proceeding) before any distribution is made in respect
        of the
        claims held by the Noteholders, with the Trustee, for itself and on behalf
        of
        the Noteholders, hereby acknowledging and agreeing to turn over to the
        Administrative Agent, for itself and on behalf of the Noteholders, amounts
        otherwise received or receivable by them in respect of the Common Collateral
        to
        the extent necessary to effectuate the intent of this sentence, even if such
        turnover has the effect of reducing the claim or recovery of the
        Noteholders.

       

      
            Section
          7.  Reliance;
          Waivers; etc.

      

       

      7.1  Reliance.
        The Trustee, on behalf of itself and the Noteholders, acknowledges that it
        and
        the Noteholders have, independently and without reliance on the Administrative
        Agent or any other First Priority Lender, and based on documents and information
        deemed by them appropriate, made their own credit analysis and decision to
        enter
        into the Indenture or any other applicable Noteholder Document, this Agreement
        and the transactions contemplated hereby and thereby and they will continue
        to
        make their own credit decisions in taking or not taking any action under
        the
        Indenture, any such other Noteholder Document or this Agreement.

       

      7.2  No
        Warranties or Liability.
        The Trustee, on behalf of itself and Noteholders, acknowledges and agrees
        that
        each of the Administrative Agent and the other holders of First Priority
        Claims
        have made no express or implied representation or warranty, including with
        respect to the execution, validity, legality, completeness, collectibility
        or
        enforceability of any of the Loan Documents or the ownership of any Common
        Collateral or the perfection or priority of any Lien thereon. The holders
        of
        First Priority Claims will be entitled to manage and supervise their respective
        loans and extensions of credit to the Borrower in accordance with applicable
        law
        and as they may otherwise, in their sole discretion, deem appropriate, and
        the
        holders of First Priority Claims may manage their loans and extensions of
        credit
        without regard to any right or interest that the Trustee or any of the
        Noteholders have in the Common Collateral or otherwise, except as otherwise
        provided in this Agreement. Neither the Administrative Agent nor any other
        First
        Priority Lender shall have any duty to the Trustee or any of the Noteholders
        to
        act or refrain from acting in a manner which allows, or results in, the
        occurrence or continuance of an event of default or default under any agreement
        with the Borrower (including the Noteholder Documents), regardless of any
        knowledge thereof which they may have or be charged with.

       

      
        
          
          

        

        
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      7.3  No
        Waiver of Lien Priorities.

       

      (a)  To
        the
        fullest extent permitted under applicable law, no right of the First Priority
        Lenders, the Administrative Agent or any of them to enforce any provision
        of
        this Agreement shall at any time in any way be prejudiced or impaired by
        any act
        or failure to act on the part of any Obligor or by any act or failure to
        act by
        any First Priority Lender, or by any noncompliance by any Person with the
        terms,
        provisions and covenants of this Agreement, any of the Loan Documents or
        any of
        the Noteholder Documents, regardless of any knowledge thereof which the
        Administrative Agent or the other First Priority Lenders, or any of them,
        may
        have or be otherwise charged with.

       

      (b)  Without
        in any way limiting the generality of the foregoing paragraph (but subject
        to
        the rights of the Obligors under the Loan Documents), the First Priority
        Lenders
        and any of them, may, to the fullest extent permitted under applicable law,
        at
        any time and from time to time, without the consent of, or notice to, the
        Trustee or any Noteholder, without incurring any liability to the Trustee
        or any
        Noteholder and without impairing or releasing the lien priorities and other
        benefits provided in this Agreement (even if any right of subrogation or
        other
        right or remedy of the Trustee or any Noteholder is affected, impaired or
        extinguished thereby) do any one or more of the following:

       

      (i)  make
        loans and advances to any Obligor or issue, guaranty or obtain letters of
        credit
        for account of any Obligor or otherwise extend credit to any Obligor, in
        any
        amount (subject to the limits set forth in the Indenture) and on any terms,
        whether pursuant to a commitment or as a discretionary advance and whether
        or
        not any default or event of default or failure of condition is then
        continuing;

       

      (ii)  change
        the manner, place or terms of payment or change or extend the time of payment
        of, or renew, exchange, amend, increase (subject to the limits set forth
        in the
        Indenture or any other Noteholder Document) or alter, the terms of any of
        the
        First Priority Claims or any First Priority Lien or guaranty thereof or any
        liability of the Obligors, or any liability incurred directly or indirectly
        in
        respect thereof (including any increase in (subject to the limits set forth
        in
        the Indenture or any other Noteholder Document) or extension of the First
        Priority Claims, without any restriction as to the amount, tenor or terms
        of any
        such increase (subject to the limits set forth in the Indenture or any other
        Noteholder Document) or extension or otherwise amend, renew, exchange, extend,
        modify or supplement in any manner any Liens held by the holders of First
        Priority Claims, the First Priority Claims or any of the Loan
        Documents;

       

      (iii)  sell,
        exchange, release, surrender, realize upon, enforce or otherwise deal with
        in
        any manner and in any order any part of the First Priority Collateral or
        any
        liability of any Obligor to the First Priority Lenders, or any liability
        incurred directly or indirectly in respect thereof;

       

      (iv)  settle
        or
        compromise any First Priority Claim or any other liability of any Obligor
        or any
        security therefor or any liability incurred directly or indirectly in respect
        thereof and apply any sum by whomsoever paid and however realized to any
        liability (including the First Priority Claims) in any manner or order;
        and

       

      (v)  exercise
        or delay in or refrain from exercising any right or remedy against any Obligor
        or any security or any other Person, elect any remedy and otherwise deal
        freely
        with the Obligors and the First Priority Collateral and any security or any
        liability of any Obligor to the holders of First Priority Claims or any
        liability incurred directly or indirectly in respect thereof.

       

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

       

      (c)  The
        Trustee, on behalf of itself and the Noteholders, also agrees, to the fullest
        extent permitted under applicable law, that no First Priority Lender shall
        have
        any liability to the Trustee or any Noteholder, and the Trustee, on behalf
        of
        itself and the Noteholders, to the fullest extent permitted under applicable
        law, hereby waives any claim against any First Priority Lender, arising out
        of
        any action which such holders of First Priority Claims may take or permit
        or
        omit to take with respect to the foreclosure upon, or sale, liquidation or
        other
        disposition of, the First Priority Collateral. The Trustee, on behalf of
        itself
        and the Noteholders, agrees that neither the Administrative Agent nor any
        other
        First Priority Lender shall have any duty to them, express or implied, fiduciary
        or otherwise, in respect of the maintenance or preservation of the First
        Priority Collateral, the First Priority Claims or otherwise.

       

      d)  The
        Trustee, on behalf of itself and the Noteholders, agrees not to assert and
        hereby waives, to the fullest extent permitted by law, any right to demand,
        request, plead or otherwise assert or otherwise claim the benefit of, any
        marshaling, appraisal, valuation or other similar right that may otherwise
        be
        available under applicable law or any other similar right a junior secured
        creditor may have under applicable law.

       

      7.4  Obligations
        Unconditional.
        All rights, interests, agreements and obligations of the Administrative Agent
        and the other First Priority Lenders and the Trustee and the Noteholders,
        respectively, hereunder shall remain in full force and effect irrespective
        of:

       

      (a)  any
        lack
        of validity or enforceability of any Loan Document or any Noteholder Document
        or
        any setting aside or avoidance of any First Priority Lien;

       

      (b)  any
        change in the time, manner or place of payment of, or in any other terms
        of, any
        First Priority Claim or Noteholder Claim, or any amendment or waiver or other
        modification, including any increase in the amount thereof, whether by course
        of
        conduct or otherwise, of the terms of the Credit Agreement or any other Loan
        Document or of the terms of the Indenture or any other Noteholder
        Document;

       

      (c)  any
        exchange of any security interest in any Common Collateral or any other
        collateral, or any amendment, waiver or other modification, whether in writing
        or by course of conduct or otherwise, of any the First Priority Claim or
        Noteholder Claim or any guarantee thereof;

       

      (d)  the
        commencement of any Insolvency Proceeding in respect of any Obligor;
        or

       

      (e)  any
        other
        circumstances which otherwise might constitute a defense available to, or
        a
        discharge of, any Obligor in respect of the First Priority Claims, or of
        the
        Trustee, any Noteholder, the Administrative Agent or any other First Priority
        Lender in respect of this Agreement.

       

      
        
          
          

        

        
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      Section
        8.  Miscellaneous.

       

      8.1  Conflicts.
        In the
        event of any conflict between the provisions of this Agreement and the
        provisions of the Loan Documents or the Noteholder Documents, the provisions
        of
        this Agreement shall govern and control.

       

      8.2  Continuing
        Nature of this Agreement.
        This Agreement shall continue to be effective until the Discharge of First
        Priority Claims shall have occurred. This is a continuing agreement of lien
        priority. The Trustee, on behalf of itself and the Noteholders, hereby waives
        any right it may have under applicable law to revoke this Agreement or any
        provisions hereof. 

       

      8.3  Amendments;
        Waivers.
        No amendment, modification or waiver of any provision of this Agreement shall
        be
        deemed to be made unless the same shall be in writing signed by the Trustee,
        the
        Administrative Agent and the Borrower and each waiver, if any, shall be a
        waiver
only
        with
        respect to the specific instance involved and shall in no way impair the
        rights
        of the parties making such waiver or the obligations of the other parties
        to
        such party in any other respect or at any other time. Notwithstanding the
        foregoing, the Borrower shall not have any right to consent to or approve
        any
        amendment, modification or waiver of any provision of this Agreement except
        to
        the extent its rights are directly affected (which includes any amendment
        to the
        Obligors' ability to cause additional obligations to constitute First Priority
        Claims or Noteholder Claims as the Borrower may designate).

       

      8.4  Information
        Concerning Financial Condition of the Borrower and its
        Subsidiaries.
        The
        Administrative Agent and the other holders of First Priority Claims, on the
        one
        hand, and the Trustee and the Noteholders, on the other hand, shall each
        be
        responsible for keeping themselves informed of (a) the financial condition
        of
        the Borrower and its Subsidiaries and all endorsers and/or guarantors of
        the
        Noteholder Claims or the First Priority Claims and (b) all other circumstances
        bearing upon the risk of nonpayment of the Noteholder Claims or the First
        Priority Claims. Neither the Administrative Agent nor any other First Priority
        Lender shall have any duty to advise the Trustee or any Noteholder of
        information known to it or them regarding such condition or any such
        circumstance or otherwise. In the event the Administrative Agent or any other
        First Priority Lender, in its or their sole discretion, undertakes at any
        time
        or from time to time to provide any such information to the Trustee or any
        Noteholder, it or they shall be under no obligation (x) to provide any
        additional information or to provide any such information on any subsequent
        occasion, (y) to undertake any investigation or (z) to disclose any information
        which, pursuant to accepted or reasonable commercial finance practices, such
        party wishes to maintain confidential.

       

      
        
          
          

        

        
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      8.5  Successor
        Administrative Agent and Trustee.
        Each
        successor Administrative Agent under the Credit Agreement or any other First
        Priority Document shall execute and deliver a counterpart of and become a
        party
        to this Agreement, and no replacement or resignation of the Administrative
        Agent
        shall be effective until its successor shall have executed and delivered
        a
        counterpart of this Agreement. Each successor Trustee under the Indenture
        or any
        other Noteholder Document shall execute and deliver a counterpart of and
        become
        a party to this Agreement, and no replacement or resignation of the Trustee
        shall be effective until its successor shall have executed and delivered
        a
        counterpart of this Agreement.

       

      8.6  Application
        of Payments.
        All
        payments received by the holders of First Priority Claims may be applied,
        reversed and reapplied, in whole or in part, to such part of the First Priority
        Claims as the holders of First Priority Claims, in their sole discretion,
        deem
        appropriate.

       

      8.7  Forum
        Selection and Consent to Jurisdiction.
        ANY
        LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH,
        THIS
        AGREEMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER
        ORAL
        OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO RELATING THERETO SHALL BE BROUGHT
        AND
        MAINTAINED EXCLUSIVELY (TO THE EXTENT PERMITTED UNDER APPLICABLE LAW) IN
        THE
        COURTS OF THE STATE OF ILLINOIS, COOK COUNTY, OR IN THE UNITED STATES DISTRICT
        COURT FOR THE NORTHERN DISTRICT OF ILLINOIS. EACH OF THE PARTIES HERETO HEREBY
        EXPRESSLY AND IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE COURTS OF THE
        STATE
        OF ILLINOIS, COOK COUNTY, AND OF THE UNITED STATES DISTRICT
        COURT FOR THE NORTHERN DISTRICT OF ILLINOIS FOR THE PURPOSE OF ANY SUCH
        LITIGATION AS SET FORTH ABOVE AND IRREVOCABLY AGREES TO BE BOUND BY ANY JUDGMENT
        RENDERED THEREBY IN CONNECTION WITH SUCH LITIGATION. EACH OF THE PARTIES
        HERETO
        IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS BY REGISTERED MAIL, POSTAGE
        PREPAID, OR BY PERSONAL SERVICE WITHIN OR WITHOUT THE STATE OF ILLINOIS.
        EACH OF
        THE PARTIES HERETO HEREBY EXPRESSLY AND IRREVOCABLY WAIVES, TO THE FULLEST
        EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY HAVE OR HEREAFTER MAY
        HAVE
        TO THE LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED
        TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN
        INCONVENIENT FORUM. 

       

      8.8  Waiver
        of Jury Trial.
        THE
        PARTIES HERETO HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY
        RIGHTS
        THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON,
        OR
        ARISING OUT OF, UNDER OR IN CONNECTION WITH, THIS AGREEMENT OR ANY COURSE
        OF
        CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTIONS
        OF
        SUCH PARTIES RELATING THERETO. EACH OF THE PARTIES HERETO ACKNOWLEDGES AND
        AGREES THAT IT HAS RECEIVED FULL AND SUFFICIENT CONSIDERATION FOR THIS
        PROVISION.

       

      
        
          
          

        

        
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      8.9  Notices.
        All
        notices to the Noteholders and the First Priority Lenders permitted or required
        under this Agreement may be sent to the Trustee and the Administrative Agent,
        respectively. Unless otherwise specifically provided herein, any notice or
        other
        communication herein required or permitted to be given shall be in writing
        and
        may be personally served, telecopied, electronically mailed or sent by courier
        service or U.S. mail and shall be deemed to have been given when delivered
        in
        person or by courier service, upon receipt of a telecopy or electronic mail
        or
        four Business Days after deposit in the U.S. mail (registered or certified,
        with
        postage prepaid and properly addressed). For the purposes hereof, the addresses
        of the parties hereto shall be as set forth below each party's name on the
        signature pages hereto, or, as to each party, at such other address as may
        be
        designated by such party in a written notice to all of the other
        parties.

       

      8.10  Further
        Assurances.
        The Administrative Agent, on behalf of itself and the First Priority Lenders,
        and the Trustee, on behalf of itself and the Noteholders, and the Borrower,
        agrees that each of them shall take such further action and shall execute
        and
        deliver such additional documents and instruments (in recordable form, if
        requested) as the Administrative Agent or the Trustee may reasonably request
        to
        effect the terms of this Agreement.

       

      8.11  Governing
        Law.
        THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY
        THE
        INTERNAL LAWS OF THE STATE OF ILLINOIS.

       

      8.12  Binding
        on Successors and Assigns; No Third Party Beneficiaries.
        This Agreement shall be binding upon and inure to the benefit of the
        Administrative Agent, the other First Priority Lenders, the Trustee, the
        Noteholders and their respective successors and assigns. No other Person,
        shall
        have or be entitled to assert rights or benefits hereunder. This Agreement
        shall
        be
        binding upon the Obligors and their successors and assigns; provided that
        no
        Obligor or any successor or assign thereof shall be entitled to enforce any
        provision of this Agreement (other than any provision hereof expressly
        preserving any right of any Obligor under any Loan Document or Noteholder
        Document).

       

      8.13  Specific
        Performance.
        Each of the Administrative Agent and the Trustee may demand specific performance
        of this Agreement. The Trustee, on behalf of itself and the Noteholders hereby
        irrevocably waives any defense based on the adequacy of a remedy at law and
        any
        other defense which might be asserted to bar the remedy of specific performance
        in any action which may be brought by the Administrative Agent.

       

      8.14  Section
        Titles; Time Periods.
        The section titles contained in this Agreement are and shall be without
        substantive meaning or content of any kind whatsoever and are not a part
        of this
        Agreement.

       

      8.15  Counterparts.
        This Agreement may be executed in one or more counterparts, each of which
        shall
        be an original and all of which shall together constitute one and the same
        document. Delivery of an executed counterpart of a signature page to this
        Agreement by facsimile shall be effective as delivery of a manually executed
        counterpart of this Agreement.

       

      
        
          
          

        

        
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      8.16  Authorization.
        By its signature, each Person executing this Agreement on behalf of a party
        hereto represents and warrants to the other parties hereto that it is duly
        authorized to execute this Agreement.

       

      8.17  Effectiveness.
        This Agreement shall become effective when executed and delivered by the
        parties
        listed below. This Agreement shall be effective both before and after the
        commencement of any Insolvency Proceeding. All references to any Obligor
        shall
        include any Obligor as debtor and debtor-in-possession and any receiver or
        trustee for such Obligor (as the case may be) in any Insolvency
        Proceeding.

       

      8.18  Provisions
        Solely to Define Relative Rights.
        The provisions of this Agreement are and are intended solely for the purpose
        of
        defining the relative rights of the First Priority Lenders on the one hand
        and
        the Noteholders on the other hand. None of the Borrower, any other Obligor
        or
        any other creditor thereof shall have any right hereunder. Nothing in this
        Agreement is intended to or shall impair the obligations of the Borrower
        or any
        other Obligor, which are absolute and unconditional, to pay the First Priority
        Claims and the Noteholder Claims as and when the same shall become due and
        payable in accordance with their terms.

       

      8.19  Compliance
        with Trust Indenture Act.
        Nothing contained herein shall impair the ability of the Trustee to take
        any
        action necessary to comply with any obligation imposed by applicable law,
        including the Trust Indenture Act.

       

      

      

      

      
      

      
        
          
            

          

          
          

        

        
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      IN
        WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
        date
        first written above.

       

      Administrative
        Agent:

      

      LASALLE
        BANK NATIONAL ASSOCIATION, 

      as
        Administrative Agent

      

      

      By:  /s/
        Jessica Richardson 

      Name:
        Jessica Richardson

      Title:
        FVP

       

          Address: 135
        South
        LaSalle Street

          Chicago,
        Illinois 60603

          Facsimile:
        (312) 904-6353

          Attention:
        Jessica Richardson, First Vice President

      

      

      Trustee:

      

      WELLS
        FARGO BANK, N.A.,

      as
        Trustee

      

      

      By:  /s/
        Joseph P. O'Donnell 

      Name:
        Joseph P. O'Donnell

      Title:
        Assistant Vice President

      

          Address:
         213
        Court
        Street, Suite
        703

          Middletown,
        CT 06457

          Facsimile:
        (860) 704-6219

          Attention:
        Joe O'Donnell

       

      Borrower:

      

      INTEGRATED
        ALARM SERVICES GROUP, INC.

      

      

      By:  /s/
        Timothy M. McGinn 

      Name:
        Timothy M. McGinn

      Title: 
        Chairman
        of the Board and Chief Executive Officer

      

      Address: One
        Capital Center

      99
        Pine
        Street, 3rd Floor

      Albany,
        New York 12207

      Facsimile:
        (518) 426-0953

      Attention:
        Timothy M. McGinn

      

      
        
          
          

        

        
          S-1EX-4.6

    
      

      

    

    

      No.
        _______                                                                                   
U.S.$123,000,000

                                                                                              CUSIP
        No.: __________

                                                                                              ISIN
        No.:
[45890MAB54]

      
      

       

      INTEGRATED
        ALARM SERVICES GROUP, INC.

       

      

       

      12%
        Senior Secured Notes due 2011

       

      Issue
        Date:

       

      Integrated
        Alarm Services Group, Inc., a Delaware corporation (the "Company", which
        term
        includes any successor under this Indenture hereinafter referred to), for
        value
        received, promises to pay to CEDE & CO. or its registered assigns, the
        principal sum of One Hundred Twenty-Three Million Dollars ($123,000,000)
        on
        November 15, 2011.

       

      Interest
        Payment Dates: May 15 and November 15, commencing May 15, 2005.

       

      Record
        Dates: May 1 and November 1.

       

      Reference
        is hereby made to the further provisions of this Note set forth on the reverse
        hereof, which further provisions shall for all purposes have the same effect
        as
        if set forth at this place.

       

      IN
        WITNESS WHEREOF, the Company has caused this Note to be signed manually or
        by
        facsimile by its duly authorized officers.

       

                          INTEGRATED
        ALARM
        SERVICES GROUP, INC.

      

      

                          By:
        _________________________________

                          Name:
        _______________________________

                          Title: 
        ________________________________

      

      

                          By:
        __________________________________

                          Name:
        ________________________________

                          Title:
        _________________________________

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (Trustee's
        Certificate of Authentication)

       

      

       

      This
        is
        one of the 12% Senior Secured Notes due 2011 described in the within-mentioned
        Indenture.

       

      

       

      Dated:

       

      

       

      WELLS
        FARGO BANK, N.A.,

       

      as
        Trustee

       

      By:___________________________

       

      Authorized
        Signatory

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      [Reverse
        Side of Note]

       

      INTEGRATED
        ALARM SERVICES GROUP, Inc.

       

      12%
        Senior Secured Notes due 2011

       

      Capitalized
        terms used herein shall have the meanings assigned to them in the Indenture
        referred to below unless otherwise indicated.

       

      1.  Interest.
        The Company promises to pay interest on the principal amount of this Note
        at 12
        % per annum from the date hereof until maturity and shall pay the Liquidated
        Damages, if any, payable pursuant to Section 5 of the Registration Rights
        Agreement referred to below. The Company shall pay interest and Liquidated
        Damages, if any, semi-annually in arrears on May 15 and November 15 of each
        year, or if any such day is not a Business Day, on the next succeeding Business
        Day (each an "Interest Payment Date"). Interest on the Notes shall accrue
        from
        the most recent date to which interest has been paid or, if no interest has
        been
        paid, from the date of original issuance; provided that if there is no existing
        Default in the payment of interest, and if this Note is authenticated between
        a
        record date referred to on the face hereof and the next succeeding Interest
        Payment Date, interest shall accrue from such next succeeding Interest Payment
        Date; provided further that the first Interest Payment Date shall be May
        15,
        2005. The Company shall pay interest (including post-petition interest in
        any
        proceeding under any Bankruptcy Law) on overdue principal and premium, if
        any,
        from time to time on demand at a rate that is 1% per annum in excess of the
        rate
        then in effect; it shall pay interest (including post-petition interest in
        any
        proceeding under any Bankruptcy Law) on overdue installments of interest
        and
        Liquidated Damages (without regard to any applicable grace periods) from
        time to
        time on demand at the same rate to the extent lawful. Interest shall be computed
        on the basis of a 360-day year of twelve 30-day months.

       

      2.  Method
        of
        Payment. The Company shall pay interest on the Notes (except defaulted interest)
        and Liquidated Damages, if any, to the Persons who are Holders of Notes at
        the
        close of business on the record date immediately preceding the Interest Payment
        Date, even if such Notes are canceled after such record date and on or before
        such Interest Payment Date, except as provided in Section 2.11 of the Indenture
        with respect to defaulted interest. The Notes shall be payable as to principal,
        premium and Liquidated Damages, if any, and interest at the office or agency
        of
        the Company maintained for such purpose in The City of New York, or, at the
        option of the Company, payment of interest and Liquidated Damages, if any,
        may
        be made by check mailed to the Holders at their addresses set forth in the
        register of Holders, and provided that payment by wire transfer of immediately
        available funds shall be required with respect to principal of and interest,
        premium and Liquidated Damages, if any, on, all Global Notes. Such payment
        shall
        be in such coin or currency of the United States of America as at the time
        of
        payment is legal tender for payment of public and private debts.

       

      3.  Paying
        Agent and Registrar. Initially, the Trustee under the Indenture shall act
        as
        Paying Agent and Registrar. The Company may change any Paying Agent or Registrar
        without notice to any Holder. The Company or any of its Subsidiaries may
        act in
        any such capacity.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      

       

      4.  Indenture.
        The Company issued the Notes under an Indenture dated as of November 16,
        2004
        ("Indenture") among the Company, the Subsidiary Guarantors and the Trustee.
        The
        terms of the Notes include those stated in the Indenture and those made part
        of
        the Indenture by reference to the Trust Indenture Act of 1939, as amended.
        Terms
        defined in the Indenture and not defined herein have the meanings ascribed
        thereto in the Indenture. The Notes are subject to all such terms, and Holders
        are referred to the Indenture and such Act for a statement of such terms.
        To the
        extent any provision of this Note conflicts with the express provisions of
        the
        Indenture, the provisions of the Indenture shall govern and be controlling.
        

       

      The
        Notes
        are senior secured obligations of the Company. The Company shall be entitled,
        subject to its compliance with Section 4.07 of the Indenture, to issue
        Additional Notes pursuant to Section 2.13 of the Indenture. The Initial
        Notes issued on the Issue Date, any Additional Notes and all Exchange Notes
        or
        Private Exchange Notes issued in exchange therefor will be treated as a single
        class for all purposes under the Indenture. The Indenture contains covenants
        that limit the ability of the Company and its subsidiaries to incur additional
        indebtedness; pay dividends or distributions on, or redeem or repurchase
        capital
        stock; make investments; issue or sell capital stock of subsidiaries; engage
        in
        transactions with affiliates; transfer or sell assets; guarantee indebtedness;
        restrict dividends or other payments of subsidiaries; and consolidate, merge
        or
        transfer all or substantially all of their assets and the assets of their
        subsidiaries. These covenants are subject to important exceptions and
        qualifications.

       

      5.  Optional
        Redemption. (a)
        Except
        as set forth in this Section 5, the Company shall not have the option to
        redeem
        any Notes.

       

      (a) On
        or
        before November 15, 2008, the Company shall have the option to redeem the
        Notes,
        in whole or in part, upon not less than 30 nor more than 60 days' prior notice,
        at a redemption price equal to the greater of the following
        amounts:

      

      "
        100% of
        the principal amount of the Notes being redeemed on the redemption date;
        or

      

      "
        the sum
        of the present values of the remaining scheduled payments of principal and
        interest on the Notes being redeemed on that redemption date (not including
        any
        portion of any payments of interest accrued to the redemption date), discounted
        to the redemption date on a semi-annual basis at the Treasury Rate (as defined
        below), plus 50 basis points, as determined by the Reference Treasury Dealer
        (as
        defined below),

      

      plus,
        in
        each case, accrued and unpaid interest and Liquidated Damages, if any, on
        the
        Notes to the redemption date. Notwithstanding the foregoing, installments
        of
        interest on Notes that are due and payable on an interest payment dates falling
        on or prior to a redemption date will be payable on the interest payment
        date to
        the registered holders as of the close of business on the relevant record
        date.
        The redemption price will be calculated on the basis of a 360-day year
        consisting of twelve 30-day months.

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      

      "Comparable
        Treasury Issue" means the United States Treasury security selected by the
        Reference Treasury Dealer as having a maturity comparable to the remaining
        term
        of the Notes.

      

      "Comparable
        Treasury Price" means, with respect to any redemption date, (A) the average
        of
        the Reference Treasury Dealer Quotations for such redemption date, after
        excluding the highest and lowest such Reference Treasury Dealer Quotations,
        or
        (B) if the Trustee obtains fewer than three such Reference Treasury Dealer
        Quotations, the average of all such Quotations, or (C) if only one Reference
        Treasury Dealer Quotation is received, such Quotation.

      

      "Reference
        Treasury Dealer" means (A) Wells Fargo Securities LLC or ABN AMRO Incorporated
        or their respective affiliates which are Primary Treasury Dealers, and its
        successors; provided, however, that if Wells Fargo Securities LLC or ABN
        AMRO
        Incorporated shall cease to be a primary U.S. Government securities dealer
        in
        New York City (a "Primary Treasury Dealer"), the Company shall substitute
        therefor another Primary Treasury Dealer; and (B) any other Primary Treasury
        Dealer(s) selected by the Trustee after consultation with the
        Company.

      

      "Reference
        Treasury Dealer Quotation" means, with respect to each Reference Treasury
        Dealer
        and any redemption date, the average, as determined by the Trustee, of the
        bid
        and asked prices for the Comparable Treasury Issue, expressed in each case
        as a
        percentage of its principal amount, quoted in writing to the Trustee by such
        Reference Treasury Dealer at 5:00 p.m. (New York City time) on the third
        business day preceding such redemption date.

      

      "Treasury
        Rate" means, with respect to any redemption date, the rate per annum equal
        to
        the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
        assuming a price for the Comparable Treasury Issue, expressed as a percentage
        of
        its principal amount, equal to the Comparable Treasury Price for such redemption
        date.

      

      (b) On
        and
        after November 15, 2008, the Company shall have the option to redeem the
        Notes,
        in whole or in part, upon not less than 30 nor more than 60 days' prior notice,
        at the redemption prices (expressed as percentages of principal amount) set
        forth below plus accrued and unpaid interest and Liquidated Damages, if any,
        thereon to the applicable redemption date, if redeemed during the twelve-month
        period beginning on November 15 of the years indicated below (subject to
        the
        right of Holders on the relevant record date to receive interest and Liquidated
        Damages due on the related interest payment date):

      

      
        	
                Year 

              	
                Percentage

              
	
                2008

              	
                106.0
                  %

              
	
                2009

              	
                103.0
                  %

              
	
                2010

              	
                100.0
                  %

              

      

      

      (c) Notwithstanding
        the foregoing, on or prior to November 15, 2007, the Company will be entitled
        at
        its option on one or more occasions to redeem Notes in an aggregate principal
        amount not to exceed the sum of 35 % of the aggregate principal amount of
        the
        Notes originally issued on the Issue Date plus 100% of the aggregate principal
        amount of any Additional Notes issued, at a redemption price (expressed as
        a
        percentage of principal amount) of 112.0 %, plus 

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      accrued
        and unpaid interest to the redemption date (subject to the right of Holders
        of
        record on the relevant record date to receive interest due on the relevant
        interest payment date), with the Net Cash Proceeds from one or more Designated
        Offerings; provided,
        however,
        that
        (A) at least 65% of the aggregate principal amount of the Notes originally
        issued on the Issue Date remains outstanding immediately after the occurrence
        of
        each such redemption, other than the Notes held, directly or indirectly,
        by the
        Company or its Affiliates); and (B) each such redemption occurs within 90
        days
        after the date of the related Designated Offering.

      

      6.  Repurchase
        at Option of Holder. Upon a Change of Control, any Holder of Notes will have
        the
        right to cause the Company to repurchase all or any part of the Notes of
        such
        Holder at a repurchase price equal to 101% of the principal amount of the
        Notes
        to be repurchased plus accrued interest to the date of repurchase (subject
        to
        the right of holders of record on the relevant record date to receive interest
        due on the related interest payment date) as provided in, and subject to
        the
        terms of, the Indenture.

       

      7.  Guarantee.
        The payment by the Company of the principal of, and premium and interest
        on, the
        Notes is fully and unconditionally guaranteed on a joint and several senior
        basis by each of the Subsidiary Guarantors to the extent set forth in the
        Indenture.

       

      8.  Denominations,
        Transfer, Exchange. The Notes are in registered form without coupons in
        denominations of $1,000 and integral multiples of $1,000. The transfer of
        Notes
        may be registered and Notes may be exchanged as provided in the Indenture.
        The
        Registrar and the Trustee may require a Holder, among other things, to furnish
        appropriate endorsements and transfer documents and the Company may require
        a
        Holder to pay any taxes and fees required by law or permitted by the Indenture.
        The Company is not required to transfer or exchange any Note selected for
        redemption. Also, the Company is not required to transfer or exchange any
        Note
        for a period of 15 days before a selection of Notes to be redeemed or between
        a
        record date and the corresponding interest payment date.

       

      9.  Persons
        Deemed Owners. The registered Holder of a Note will be treated as its owner
        for
        all purposes.

       

      10.  Amendment,
        Supplement and Waiver. Subject to certain exceptions, the Indenture or the
        Notes
        may be amended or supplemented with the consent of the Holders of at least
        a
        majority in principal amount of the then outstanding Notes (including, without
        limitation, consents obtained in connection with a purchase of, or tender
        offer
        or exchange offer for, the Notes), and any past default or compliance with
        any
        provisions may also be waived (except a default in the payment of principal,
        premium or interest and certain covenants and provisions of the Indenture
        which
        cannot be amended without the consent of each Holder of an outstanding Note)
        with the consent of the Holders of at least a majority in aggregate principal
        amount of the Notes then outstanding (including consents obtained in connection
        with a purchase of, or tender offer or exchange offer for, the Notes). Without
        the consent of any Holder of a Note, the Indenture or the Notes may be amended
        or supplemented to, among other things, cure any ambiguity, defect or
        inconsistency, or to make any change that does not adversely affect the legal
        rights under the Indenture of any such Holder.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

       

      11.  Defaults
        and Remedies. In the case of an Event of Default arising from certain events
        of
        bankruptcy or insolvency, with respect to the Company or any Restricted
        Subsidiary of the Company, all outstanding Notes will become due and payable
        immediately without further action or notice. If any other Event of Default
        occurs and is continuing, the Trustee or the Holders of at least 25% in
        principal amount of the then outstanding Notes may declare all the Notes
        to be
        due and payable immediately by notice in writing to the Company specifying
        the
        Event of Default. Holders of the Notes may not enforce the Indenture or the
        Notes except as provided in the Indenture. Subject to certain limitations,
        Holders of a majority in principal amount of the then outstanding Notes may
        direct the Trustee in its exercise of any trust or power. The Trustee may
        withhold from Holders of the Notes notice of any Default or Event of Default
        (except a Default or Event of Default relating to the payment of principal,
        premium, interest or Liquidated Damages) if it determines that withholding
        notice is in their interest. Holders of a majority in principal amount of
        the
        then outstanding Notes by notice to the Trustee may, on behalf of the Holders
        of
        all of the Notes, rescind and annul a declaration of acceleration pursuant
        to
        Section 6.02 of the Indenture, and its consequences, and waive any related
        existing Default or Event of Default if certain conditions are
        satisfied.

       

      12.  Trustee
        Dealings with Company. The Trustee, in its individual or any other capacity,
        may
        make loans to, accept deposits from, and perform services for the Company
        or its
        Affiliates, and may otherwise deal with the Company or its Affiliates, as
        if it
        were not the Trustee.

       

      13.  No
        Recourse Against Others. No director, officer, employee, incorporator or
        stockholder of the Company, as such, shall have any liability for any
        obligations of the Company under the Notes or the Indenture, or for any claim
        based on, in respect of, or by reason of, such obligations or their creation.
        Each Holder of Notes by accepting a Note waives and releases all such liability.
        The waiver and release are part of the consideration for issuance of the
        Notes.
        The waiver may not be effective to waive liabilities under the federal
        securities laws.

       

      14.  Authentication.
        This Note shall not be valid until authenticated by the manual signature
        of the
        Trustee or an authenticating agent.

       

      15.  Additional
        Rights of Holders of Restricted Global Notes and Restricted Definitive Notes.
        In
        addition to the rights provided to Holders under the Indenture, Holders of
        Restricted Global Notes and Restricted Definitive Notes shall have all the
        rights set forth in the Registration Rights Agreement dated as of November
        16,
        2004, between the Company and the parties named on the signature pages thereof
        or, in the case of Additional Notes, Holders of Restricted Global Notes and
        Restricted Definitive Notes shall have the rights set forth in one or more
        registration rights agreements, if any, between the Company, the Subsidiary
        Guarantors and the other parties thereto, relating to rights given by the
        Company and the Subsidiary Guarantors to the purchasers of Additional
        Notes.

       

      16.  CUSIP
        Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform
        Security Identification Procedures, the Company has caused CUSIP numbers
        to be
        printed on the Notes and the Trustee may use CUSIP numbers in notices
        of  redemption
        as a convenience to Holders. No representation is made as to the accuracy
        of
        such numbers either as printed on the Notes or as contained in any notice
        of
        redemption and reliance may be placed only on the other identification numbers
        placed thereon.

       

      17.  Copies
        of
        Documents. The Company shall furnish to any Holder upon written request and
        without charge a copy of the Indenture and/or the Registration Rights Agreement.
        Requests may be made to:

       

      Integrated
        Alarm Services Group, Inc.

      One
        Capital Center

      99
        Pine
        Street, 3rd
        Floor

      Albany,
        New York 12207

       

      Facsimile:
        (518) 426-0953

      Attention:
        Michael Moscinski

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      Assignment
        Form

       

      To
        assign
        this Note, fill in the form below:

       

      (I)
        or
        (we) assign and transfer this Note
        to:_________________________________

                          (Insert
        assignee's
        legal name)

              __________________________________________________________________________________________________________________

      (Insert
        assignee's soc. sec. or tax I.D. no.)

       

       

              ___________________________________________________________________________________________________

       

              ___________________________________________________________________________________________________

       

              ___________________________________________________________________________________________________

      
        (Print
          or
          type assignee's name, address and zip code)

      

       

       

      and
        irrevocably appoint
        _____________________________________________________________________         

       

      to
        transfer this Note on the books of the Company. The agent may substitute
        another
        to act for him.

      

      Date:
        ______________________________    

      

      

      Your
        Signature: ______________________________________

      (Sign
        exactly as your name appears

      on
        the
        face of this Note) 

      

      

      Signature
        Guarantee*:__________________________

       

      

      

      *
        Participant in a recognized Signature Guarantee Medallion Program (or other
        signature guarantor acceptable to the Trustee).

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      OPTION
        OF
        HOLDER TO ELECT PURCHASE

       

          If
        you want
        to elect to have this Note purchased by the Company pursuant to Section 4.10,
        4.11 or 4.19 of the Indenture, check the appropriate box below:

       

      [ 
        ]
        Section 4.10 [ 
        ]
        Section 4.11  [ 
        ]
        Section 4.19

       

          If
        you want
        to elect to have only part of the Note purchased by the Company pursuant
        to
        Section 4.10, 4.11 or Section 4.19 of the Indenture, state the amount you
        elect
        to have purchased:

       

      

       

      $__________________

       

      

       

      Date:_____________

       

      

       

      Your
        Signature: ______________________________________

      (Sign
        exactly as your name

      appears
        on the face of this

      Note)

      

      

      Tax
        Identification No.: __________________________

      

      Signature
        Guarantee*:______________________________

       

      *
        Participant in a recognized Signature Guarantee Medallion Program (or other
        signature guarantor acceptable to the Trustee).

       

      

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      
      

      SCHEDULE
        OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

       

      

       

      The
        following exchanges of a part of this Global Note for an interest in another
        Global Note or for a Definitive Note, or exchanges of a part of another Global
        Note or Definitive Note for an interest in this Global Note, have been
        made:

       

      
        	
                Date
                  of Exchange

              	
                Amount
                  of Decrease in Principal Amount at

                Maturity

                of
                  this Global Note

              	
                Amount
                  of Increase in Principal Amount at Maturity

                of
                  this Global Note

              	
                Principal
                  Amount at

                Maturity

                of
                  this Global Note Following such decrease
                  (or increase)

              
	
                 

              	
              	
              	
              
	
                 <S>

              	
                 <C>

              	
                  <C>

              	
                  <C>

              
	 	 	 	 

      

      

      

      
        
          
          

        

        
          10

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