Document:

Exhibit 10.1

Exhibit 10.1

EXECUTION COPY

CREDIT AGREEMENT

dated as of March 18, 2011,

among

AMERISOURCEBERGEN CORPORATION

The Borrowing Subsidiaries Party Hereto

The Lenders Party Hereto

and

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

J.P. MORGAN SECURITIES LLC,

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

and

WELLS FARGO SECURITIES, LLC

as Lead Arrangers and Joint Bookrunners

BANK OF AMERICA, N.A.

and

WELLS FARGO BANK N.A.

as Syndication Agents

and

THE BANK OF NOVA SCOTIA

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH

US BANK NATIONAL ASSOCIATION,

as Documentation Agents

[CS&M Ref. No. 6701-448]

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE I
	 
	 	 	 	 
	Definitions
	 
	 	 	 	 
	SECTION 1.01. Defined Terms
	 	 	1	 
	SECTION 1.02. Classification of Loans and Borrowings
	 	 	27	 
	SECTION 1.03. Terms Generally
	 	 	27	 
	SECTION 1.04. Accounting Terms; GAAP; Pro Forma Computations
	 	 	28	 
	SECTION 1.05. Currency Translation
	 	 	28	 
	 
	 	 	 	 
	ARTICLE II
	 
	 	 	 	 
	The Credits
	 
	 	 	 	 
	SECTION 2.01. Commitments
	 	 	29	 
	SECTION 2.02. Loans and Borrowings
	 	 	29	 
	SECTION 2.03. Requests for Borrowings
	 	 	30	 
	SECTION 2.04. Swingline Loans
	 	 	31	 
	SECTION 2.05. Letters of Credit
	 	 	33	 
	SECTION 2.06. Canadian Bankers’ Acceptances
	 	 	37	 
	SECTION 2.07. Funding of Borrowings and B/A Drawings
	 	 	40	 
	SECTION 2.08. Interest Elections
	 	 	41	 
	SECTION 2.09. Termination, Reduction, Increase and Redesignation of Commitments
	 	 	43	 
	SECTION 2.10. Repayment of Loans and B/As; Evidence of Debt
	 	 	45	 
	SECTION 2.11. Prepayment of Loans
	 	 	46	 
	SECTION 2.12. Fees
	 	 	47	 
	SECTION 2.13. Interest
	 	 	48	 
	SECTION 2.14. Alternate Rate of Interest
	 	 	49	 
	SECTION 2.15. Increased Costs
	 	 	49	 
	SECTION 2.16. Break Funding Payments
	 	 	51	 
	SECTION 2.17. Taxes
	 	 	51	 
	SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	 	 	54	 
	SECTION 2.19. Mitigation Obligations; Replacement of Lenders
	 	 	55	 
	SECTION 2.20. Foreign Subsidiary Costs
	 	 	56	 
	SECTION 2.21. Designation of Borrowing Subsidiaries
	 	 	56	 
	SECTION 2.22. Defaulting Lenders
	 	 	57	 
	 
	 	 	 	 
	ARTICLE III
	 
	 	 	 	 
	Representations and Warranties
	 
	 	 	 	 
	SECTION 3.01. Organization; Powers
	 	 	58	 
	SECTION 3.02. Authorization; Enforceability
	 	 	59	 
	SECTION 3.03. Governmental Approvals; No Conflicts
	 	 	59	 
	SECTION 3.04. Financial Condition; No Material Adverse Change
	 	 	59	 

 

i

 

	 	 	 	 	 
	 	 	Page	 
	 
	SECTION 3.05. Properties
	 	 	60	 
	SECTION 3.06. Litigation and Environmental Matters
	 	 	60	 
	SECTION 3.07. Compliance with Laws and Agreements
	 	 	60	 
	SECTION 3.08. Investment Company Status
	 	 	60	 
	SECTION 3.09. Taxes
	 	 	60	 
	SECTION 3.10. ERISA
	 	 	60	 
	SECTION 3.11. Disclosure
	 	 	61	 
	SECTION 3.12. Subsidiaries
	 	 	61	 
	SECTION 3.13. Insurance
	 	 	61	 
	SECTION 3.14. Labor Matters
	 	 	61	 
	 
	 	 	 	 
	ARTICLE IV
	 
	 	 	 	 
	Conditions
	 
	 	 	 	 
	SECTION 4.01. Effective Date
	 	 	61	 
	SECTION 4.02. Each Credit Event
	 	 	63	 
	SECTION 4.03. Initial Credit Event for each Additional Borrowing Subsidiary
	 	 	63	 
	 
	 	 	 	 
	ARTICLE V
	 
	 	 	 	 
	Affirmative Covenants
	 
	 	 	 	 
	SECTION 5.01. Financial Statements and Other Information
	 	 	64	 
	SECTION 5.02. Notices of Material Events
	 	 	65	 
	SECTION 5.03. Existence; Conduct of Business
	 	 	65	 
	SECTION 5.04. Payment of Obligations
	 	 	65	 
	SECTION 5.05. Maintenance of Properties; Insurance
	 	 	66	 
	SECTION 5.06. Books and Records; Inspection and Audit Rights
	 	 	66	 
	SECTION 5.07. Compliance with Laws
	 	 	66	 
	SECTION 5.08. Use of Proceeds and Letters of Credit
	 	 	66	 
	SECTION 5.09. Additional Subsidiaries
	 	 	66	 
	SECTION 5.10. Senior Debt Status
	 	 	66	 
	 
	 	 	 	 
	ARTICLE VI
	 
	 	 	 	 
	Negative Covenants
	 
	 	 	 	 
	SECTION 6.01. Indebtedness
	 	 	67	 
	SECTION 6.02. Liens
	 	 	67	 
	SECTION 6.03. Fundamental Changes
	 	 	68	 
	SECTION 6.04. Investments, Loans, Advances, Guarantees and Acquisitions
	 	 	69	 
	SECTION 6.05. Asset Sales
	 	 	69	 
	SECTION 6.06. Hedging Agreements
	 	 	69	 
	SECTION 6.07. Restricted Payments; Certain Payments of Indebtedness
	 	 	70	 
	SECTION 6.08. Transactions with Affiliates
	 	 	70	 
	SECTION 6.09. Restrictive Agreements
	 	 	70	 
	SECTION 6.10. Material Documents
	 	 	71	 
	SECTION 6.11. Leverage Ratio
	 	 	71	 

 

ii

 

	 	 	 	 	 
	 	 	Page	 
	 
	SECTION 6.12. Fiscal Quarters
	 	 	71	 
	 
	 	 	 	 
	ARTICLE VII
	 
	 	 	 	 
	Events of Default
	 
	 	 	 	 
	ARTICLE VIII
	 
	 	 	 	 
	The Administrative Agent
	 
	 	 	 	 
	ARTICLE IX
	 
	 	 	 	 
	Collection Allocation Mechanism
	 
	 	 	 	 
	ARTICLE X
	 
	 	 	 	 
	Guarantee
	 
	 	 	 	 
	ARTICLE XI
	 
	 	 	 	 
	Miscellaneous
	 
	 	 	 	 
	SECTION 11.01. Notices
	 	 	78	 
	SECTION 11.02. Waivers; Amendments
	 	 	79	 
	SECTION 11.03. Expenses; Indemnity; Damage Waiver
	 	 	80	 
	SECTION 11.04. Successors and Assigns
	 	 	81	 
	SECTION 11.05. Survival
	 	 	84	 
	SECTION 11.06. Counterparts; Integration; Effectiveness
	 	 	85	 
	SECTION 11.07. Severability
	 	 	85	 
	SECTION 11.08. Right of Setoff
	 	 	85	 
	SECTION 11.09. Governing Law; Jurisdiction; Consent to Service of Process
	 	 	85	 
	SECTION 11.10. WAIVER OF JURY TRIAL
	 	 	86	 
	SECTION 11.11. Headings
	 	 	86	 
	SECTION 11.12. Confidentiality
	 	 	87	 
	SECTION 11.13. Interest Rate Limitation
	 	 	87	 
	SECTION 11.14. Releases of Guarantors
	 	 	87	 
	SECTION 11.15. USA PATRIOT Act
	 	 	88	 
	SECTION 11.16. Termination of Guarantee Agreement
	 	 	88	 
	SECTION 11.17. Non-Public Information
	 	 	88	 
	SECTION 11.18. No Fiduciary Duty
	 	 	88	 
	SECTION 11.19. Conversion of Currencies
	 	 	88	 
	SECTION 11.20. Waiver of Notice Period in connection with Termination of the Existing Credit Agreement
	 	 	89	 

 

iii

 

Schedules

	 	 	 
	Schedule 2.01

	 	Commitments
	Schedule 2.02

	 	Lending Offices
	Schedule 2.05

	 	Existing Letters of Credit
	Schedule 3.12

	 	Subsidiaries
	Schedule 3.13

	 	Insurance
	Schedule 6.02

	 	Existing Liens
	Schedule 6.09

	 	Existing Restrictions

Exhibits

	 	 	 
	Exhibit A

	 	Form of Assignment and Assumption
	Exhibit B-1

	 	Form of Borrower Joinder Agreement
	Exhibit B-2

	 	Form of Borrower Termination Agreement
	Exhibit C

	 	Form of Borrowing Request
	Exhibit D

	 	Form of Guarantee Agreement
	Exhibit E

	 	Mandatory Costs Rate
	Exhibit F-1

	 	Form of Opinion of Morgan, Lewis & Bockius LLP, Counsel for the Company
	Exhibit F-2

	 	Form of Opinion of John G. Chou, General Counsel of the Company
	Exhibit F-3

	 	Form of Opinion of McCarthy Tétrault, Counsel for the Canadian Borrowing Subsidiaries
	Exhibit F-4

	 	Form of Opinion of Morgan, Lewis & Bockius LLP, Counsel for the UK Borrowing Subsidiaries

 

iv

 

CREDIT AGREEMENT dated as of March 18, 2011 (as amended
from time to time, this “Agreement”), among AMERISOURCEBERGEN CORPORATION
(the “Company”); the BORROWING SUBSIDIARIES from time to time party
hereto; the LENDERS from time to time party hereto and JPMORGAN CHASE
BANK, N.A., as Administrative Agent.

The Borrowers (such term and each other capitalized term used and not otherwise defined herein
having the meaning assigned to it in Article I) have requested the Lenders to extend, and the
Lenders are willing, on the terms and subject to the conditions set forth herein, to extend, credit
in the form of:

(a) Tranche One Commitments under which (i) Borrowers may obtain Revolving Loans in US
Dollars, Sterling, Euro, Designated Currencies and, in the case of Borrowers that are Canadian
Subsidiaries, Canadian Dollars, (ii) the Company and other Borrowers that are US Subsidiaries or
Canadian Subsidiaries may obtain Swingline Loans in US Dollars, (iii) Borrowers that are Canadian
Subsidiaries may obtain Swingline Loans in Canadian Dollars, (iv) Borrowers that are UK
Subsidiaries may obtain Swingline Loans in Sterling, (v) Borrowers that are not US Subsidiaries may
obtain Swingline Loans in Euro, (vi) Borrowers may obtain Letters of Credit in US Dollars,
Sterling, Euro, Designated Currencies and, in the case of Borrowers that are Canadian Subsidiaries,
Canadian Dollars and (vii) Borrowers that are Canadian Subsidiaries may issue and sell B/As.

(b) Tranche Two Commitments under which (i) Borrowers may obtain Revolving Loans in US
Dollars, Sterling, Euro, Designated Currencies and, in the case of Borrowers that are Canadian
Subsidiaries, Canadian Dollars, (ii) the Company and other Borrowers that are US Subsidiaries or
Canadian Subsidiaries may obtain Swingline Loans in US Dollars, (iii) Borrowers that are UK
Subsidiaries may obtain Swingline Loans in Sterling, (iv) Borrowers that are not US Subsidiaries
may obtain Swingline Loans in Euro and (v) Borrowers may obtain Letters of Credit in US Dollars,
Sterling, Euro and Designated Currencies.

The proceeds of Loans made and B/As accepted and purchased hereunder will be used (a) on the
Effective Date, to repay any loans and other amounts outstanding or payable under the Existing
Credit Agreement and (b) on and after the Effective Date, for general corporate purposes of the
Company and the Subsidiaries. Letters of Credit and Swingline Loans will be used by the Company
and the Subsidiaries for general corporate purposes.

Accordingly, the parties hereto agree as follows:

ARTICLE I

Definitions

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

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

“Accession Agreement” has the meaning set forth in Section 2.09(d).

 

 

 

“Adjusted EURIBO Rate” means, with respect to any EURIBOR Borrowing for any Interest Period,
an interest rate per annum equal to the sum of (a) the EURIBO Rate for such Interest Period and (b)
the Mandatory Costs Rate.

“Adjusted LIBO Rate” means (a) with respect to any LIBOR Borrowing denominated in US Dollars
for any Interest Period, an interest rate per annum equal to the product of (i) the LIBO Rate for
US Dollars for such Interest Period multiplied by (ii) the Statutory Reserve Rate and (b) with
respect to any LIBOR Borrowing denominated in Sterling or any Designated Currency for any Interest
Period, an interest rate per annum equal to the sum of (x) the LIBO Rate for such currency and such
Interest Period plus (y) the Mandatory Costs Rate.

“Administrative Agent” means JPMCB, in its capacity as administrative agent for the Lenders
hereunder, or any successor appointed in accordance with Article VIII. Unless the context requires
otherwise, the term “Administrative Agent” shall include any Affiliate of JPMCB through which JPMCB
shall perform any of its obligations in such capacity hereunder.

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the
Administrative Agent.

“Affiliate” means, with respect to a specified Person, another Person that directly, or
indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified.

“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the
Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day
plus 1/2 of 1% and (c) the Adjusted LIBO Rate on such day (or if such day is not a Business
Day, the immediately preceding Business Day) for a deposit in US Dollars with a maturity of one
month plus 1%. For purposes of clause (c) above, the Adjusted LIBO Rate on any day shall
be based on the rate per annum appearing on the Reuters “LIBOR01” screen displaying British
Bankers’ Association Interest Settlement Rates (or on any successor or substitute screen provided
by Reuters, or any successor to or substitute for such service, providing rate quotations
comparable to those currently provided on such screen, as determined by the Administrative Agent
from time to time for purposes of providing quotations of interest rates applicable to US Dollar
deposits in the London interbank market) at approximately 11:00 a.m., London time, two Business
Days prior to such day for deposits in US Dollars with a maturity of one month. Any change in the
Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the
Adjusted LIBO Rate shall be effective from and including the effective date of such change in the
Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, as the case may be.

“Alternative Currency” means any currency other than US Dollars, Sterling, Euros or Canadian
Dollars.

“Applicable Funding Account” means, as to each Borrower, the applicable account that shall be
specified in a written notice signed by a Financial Officer and delivered to and approved by the
Administrative Agent.

 

2

 

“Applicable Rate” means, for any day, the applicable rate per annum set forth below under the
caption “Facility Fee Rate”, “LIBOR/EURIBOR Spread and B/A Stamping Fee” and “ABR Spread”, as the
case may be, based upon the ratings established by S&P, Moody’s and Fitch for the Index Debt as of
the most recent determination date:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	LIBOR/EURIBOR	 	 	ABR/Canadian	 
	 	 	 	 	 	 	 	 	Spread and B/A	 	 	Prime Rate	 
	 	 	 	 	Facility Fee Rate	 	 	Stamping Fee	 	 	Spread (basis	 
	 	 	Ratings	 	(basis points per	 	 	(basis points per	 	 	points per	 
	Category	 	(S&P/Moody’s/Fitch)	 	annum)	 	 	annum)	 	 	annum)	 
	Category 1
	 	A/A2/A or higher	 	 	12.5	 	 	 	87.5	 	 	 	0.0	 
	Category 2
	 	A-/A3/A-	 	 	15.0	 	 	 	110.0	 	 	 	10.0	 
	Category 3
	 	BBB+/Baa1/BBB+	 	 	20.0	 	 	 	130.0	 	 	 	30.0	 
	Category 4
	 	BBB/Baa2/BBB	 	 	22.5	 	 	 	152.5	 	 	 	52.5	 
	Category 5
	 	BBB-/Baa3/BBB-	 	 	27.5	 	 	 	172.5	 	 	 	72.5	 
	Category 6
	 	BB+/Ba1/BB+ or lower	 	 	32.5	 	 	 	192.5	 	 	 	92.5	 

For purposes of the foregoing, (i) if any of Moody’s, S&P or Fitch shall not have in effect a
rating for the Index Debt (other than by reason of the circumstances referred to in the last
sentence of this definition), then such rating agency shall be deemed to have established a rating
in Category 6; (ii) if the ratings established or deemed to have been established by Moody’s, S&P
and Fitch for the Index Debt shall fall within different Categories, the Applicable Rate shall be
based on the Category in which two of such ratings shall fall or, if there shall be no such
Category, on the Category in which the second highest of the three ratings shall fall; and (iii) if
the rating established or deemed to have been established by Moody’s, S&P or Fitch for the Index
Debt shall be changed (other than as a result of a change in the rating system of Moody’s, S&P or
Fitch), such change shall be effective as of the date on which it is first announced by the
applicable rating agency. Each change in the Applicable Rate shall apply during the period
commencing on the effective date of such change and ending on the date immediately preceding the
effective date of the next such change. If the rating system of Moody’s, S&P or Fitch shall
change, or if any such rating agency shall cease to be in the business of rating corporate debt
obligations, the Company and the Lenders shall negotiate in good faith to amend this definition to
reflect such changed rating system or the unavailability of ratings from such rating agency and,
pending the effectiveness of any such amendment, the Applicable Rate shall be determined by
reference to the ratings of the other rating agencies (or, if the circumstances referred to in this
sentence shall affect all such rating agencies, the ratings most recently in effect prior to such
changes or cessations).

“Approved Fund” has the meaning assigned to such term in Section 11.04.

“Arrangers” means J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated and Wells Fargo Securities, LLC.

“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an
assignee (with the consent of any party whose consent is required by Section 11.04), and accepted
by the Administrative Agent, in the form of Exhibit A or any other form approved by the
Administrative Agent.

“Availability Period” means the period from and including the Effective Date to but excluding
the earlier of the Maturity Date and the date of termination of the Commitments.

 

3

 

“B/A” means a bill of exchange, including a depository bill issued in accordance with the
Depository Bills and Notes Act (Canada), denominated in Canadian Dollars, drawn by a Canadian
Borrowing Subsidiary and accepted by a Tranche One Lender in accordance with the terms of this
Agreement.

“B/A Drawing” means B/As accepted and purchased (and any B/A Equivalent Loans made in lieu of
such acceptance and purchase) on the same date and as to which a single Contract Period is in
effect.

“B/A Equivalent Loan” has the meaning assigned to such term in Section 2.06(k).

“Bankruptcy Event” means, with respect to any Person, that such Person becomes the subject of
a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator,
custodian, assignee for the benefit of creditors or similar Person charged with the reorganization
or liquidation of its business appointed for it, or, in the good faith determination of the
Administrative Agent, has taken any action in furtherance of, or indicating its consent to,
approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy
Event shall not result solely by virtue of any ownership interest, or the acquisition of any
ownership interest, in such Person by a Governmental Authority or instrumentality thereof,
provided, further, that such ownership interest does not result in or provide such Person with
immunity from the jurisdiction of courts within the United States or from the enforcement of
judgments or writs of attachment on its assets or permit such Person (or such Governmental
Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or
agreements made by such Person.

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

“Borrower” means the Company or any Borrowing Subsidiary.

“Borrower Joinder Agreement” means a Borrower Joinder Agreement substantially in the form of
Exhibit B-1.

“Borrower Termination Agreement” means a Borrower Termination Agreement, substantially in the
form of Exhibit B-2.

“Borrowing” means (a) Loans of the same Class and Type made, converted or continued on the
same date and, in the case of LIBOR Loans, as to which a single Interest Period is in effect or (b)
a Swingline Loan.

“Borrowing Minimum” means (a) in the case of a Borrowing denominated in US Dollars,
US$5,000,000, (b) in the case of a Borrowing denominated in Sterling, £500,000, (c) in the case of
a Borrowing denominated in Euros, €3,000,000, (d) in the case of a Borrowing denominated in
Canadian Dollars, Cdn.$5,000,000 and (e) in the case of a Borrowing denominated in any Alternative
Currency, the smallest amount of such Alternative Currency that is an integral multiple of
1,000,000 units of such currency and that has a US Dollar Equivalent in excess of US$5,000,000.

“Borrowing Multiple” means (a) in the case of a Borrowing denominated in US Dollars,
US$100,000, (b) in the case of a Borrowing denominated in Sterling, £100,000, (c) in the case of a
Borrowing denominated in Euros, €100,000, (d) in the case of a Borrowing denominated
in Canadian Dollars, Cdn.$100,000 and (e) in the case of a Borrowing denominated in any
Alternative Currency, 100,000 units of such currency.

 

4

 

“Borrowing Request” means a request by a Borrower for a Revolving Borrowing in accordance with
Section 2.03.

“Borrowing Subsidiary” means (a) Brecon Holdings Limited, a company organized under the laws
of England and Wales, (b) Brecon Pharmaceuticals Limited, a corporation formed under the laws of
England and Wales, (c) AmerisourceBergen Canada Corporation, a corporation organized under the laws
of Canada, (d) AmerisourceBergen Specialty Group Canada Corporation, a corporation organized under
the laws of Canada, (e) Innomar Strategies, Inc., a corporation formed under the laws of the
Province of Ontario and (f) any other Subsidiary that has become a Borrowing Subsidiary as provided
in Section 2.21 and has not ceased to be a Borrowing Subsidiary as provided in such Section.

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial
banks in New York City are authorized or required by law to remain closed; provided, that (a) when
used in connection with a LIBOR Loan in any currency, the term “Business Day” shall also exclude
any day on which banks are not open for dealings in deposits in such currency in the London
interbank market, (b) when used in connection with a EURIBOR Loan, the term “Business Day” shall
also exclude any day on which the TARGET payment system is not open for the settlement of payments
in Euros, (c) when used in connection with a Canadian Prime Rate Loan (including any Swingline Loan
denominated in Canadian Dollars) or a B/A, the term “Business Day” shall also exclude any day on
which banks are not open for business in Toronto and (d) when used in connection with a Loan to any
Borrower organized in a jurisdiction other than the United States of America, the United Kingdom or
Canada, the term “Business Day” shall also exclude any day on which commercial banks in the
jurisdiction of organization of such Borrower are authorized or required by law to remain closed.

“CAM” means the mechanism for the allocation and exchange of interests in the Tranches and the
collections thereunder established under Article IX.

“CAM Exchange” means the exchange of the Lenders’ interests provided for in Article IX.

“CAM Exchange Date” means the date on which any event referred to in clause (h) or (i) of
Article VII shall occur with respect to the Company.

“CAM Percentage” means, as to each Lender, a fraction, expressed as a decimal, of which (a)
the numerator shall be the sum of the US Dollar Equivalents (determined on the basis of Exchange
Rates prevailing on the CAM Exchange Date) of the Designated Obligations owed to such Lender
(whether or not at the time due and payable) immediately prior to the CAM Exchange and (b) the
denominator shall be the sum of the US Dollar Equivalents (as so determined) of the Designated
Obligations owed to all the Lenders (whether or not at the time due and payable) immediately prior
to the CAM Exchange. For purposes of determining the CAM Percentages, the amount payable in
respect of any B/A shall be deemed to be the face amount thereof, reduced by the unaccreted portion
of the discount at which such B/A shall have been purchased (taking into account the applicable
Discount Rates and acceptance fees), as determined by the Administrative Agent in accordance with
accepted financial practice.

“Canadian Borrowing Subsidiary” means any Borrowing Subsidiary that is a Canadian Subsidiary.

 

5

 

“Canadian Dollars” or “Cdn.$” means the lawful money of Canada.

“Canadian Prime Rate” means, for any day, the rate of interest per annum (rounded upwards, if
necessary, to the next 1/100 of 1%) equal to the greater of (a) the interest rate per annum
publicly announced from time to time by the Administrative Agent, acting through its Toronto
branch, as its reference rate in effect on such day at its principal office in Toronto for
determining interest rates applicable to commercial loans denominated in Canadian Dollars and made
by it in Canada (each change in such reference rate being effective from and including the date
such change is publicly announced as being effective) and (b) the interest rate per annum equal to
the sum of (i) the CDOR Rate on such day (or, if such rate is not so reported on the Reuters Screen
CDOR Page, the average of the rate quotes for bankers’ acceptances denominated in Canadian Dollars
with a one month term received by the Administrative Agent, acting through its Toronto branch, at
approximately 10:00 a.m., Toronto time, on such day (or, if such day is not a Business Day, on the
next preceding Business Day) from the Schedule I Reference Lenders) and (ii) 0.50% per annum.

“Canadian Subsidiary” means any Subsidiary that is incorporated or otherwise organized under
the laws of Canada or any political subdivision thereof.

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

“CDOR Rate” means, on any date, an interest rate per annum equal to the stated average
discount rate applicable to bankers’ acceptances denominated in Canadian Dollars with a term of one
month (for purposes of the definition of “Canadian Prime Rate”) or with a term equal to the
Contract Period of the relevant B/As (for purposes of the definition of “Discount Rate”) appearing
on the Reuters Screen CDOR Page (or on any successor or substitute page of such Screen, or any
successor to or substitute for such Screen, providing rate quotations comparable to those currently
provided on such page of such Screen, as determined by the Administrative Agent, acting through its
Toronto branch, from time to time) at approximately 10:00 a.m., Toronto time, on such date (or, if
such date is not a Business Day, on the next preceding Business Day).

“Change in Control” means (a) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any Person or group (within the meaning of the Securities Exchange
Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on the
date hereof), of Equity Interests representing more than 30% of either the aggregate ordinary
voting power or the aggregate equity value represented by the issued and outstanding Equity
Interests of the Company; (b) occupation of a majority of the seats (other than vacant seats) on
the board of directors of the Company by Persons who were not (i) directors of the Company on the
date of this Agreement, (ii) nominated by the board of directors of the Company or (iii) appointed
by directors referred to in the preceding clauses (i) and (ii); or (c) the occurrence of a “Change
of Control” (or other similar event or condition however denominated) under any Material
Indebtedness.

 

6

 

“Change in Law” means (a) the adoption of any law, rule or regulation after the Closing Date,
(b) any change in any law, rule or regulation or in the interpretation or application thereof by
any Governmental Authority after the Closing Date or (c) compliance by any Lender or Issuing Bank
(or, for purposes of Section 2.15(b), by any lending office of such Lender or Issuing
Bank or by such Lender’s or Issuing Bank’s holding company, if any) with any request,
guideline or directive (whether or not having the force of law) of any Governmental Authority made
or issued after the Closing Date; provided however, that for purposes of this Agreement, the
Dodd-Frank Wall Street Reform and Consumer Protection Act, all requests, rules, guidelines or
directives in connection therewith and all requests, rules, guidelines or directives concerning
capital adequacy promulgated by the Bank for International Settlements, the Basel Committee on
Banking Regulations and Supervisory Practices (or any successor or similar authority) or the United
States financial regulatory authorities, shall be deemed to have been adopted and become effective
after the Closing Date.

“Claims” has the meaning set forth in Section 2.18(c).

“Class”, when used in reference to (a) any Loan or Borrowing, refers to whether such Loan, or
the Loans comprising such Borrowing, are Tranche One Revolving Loans, Tranche Two Revolving Loans,
Tranche One Swingline Loans or Tranche Two Swingline Loans, and (b) any Commitment, refers to
whether such Commitment is a Tranche One Commitment or a Tranche Two Commitment.

“Closing Date” means the date of this Agreement.

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

“Commitments” means the Tranche One Commitments and the Tranche Two Commitments, as the case
may be. The aggregate amount of the Commitments as of the Closing Date is US$700,000,000.

“Commitment Increase” has the meaning set forth in Section 2.09(e).

“Consolidated EBITDA” means, for any period, Consolidated Net Income for such period
plus (a) without duplication and to the extent deducted in determining such Consolidated
Net Income, the sum, without duplication, of (i) consolidated interest expense for such period,
(ii) consolidated income tax expense for such period, (iii) all amounts attributable to
depreciation and amortization for such period, (iv) any special one-time or extraordinary charges
or extraordinary losses for such period, in each case to the extent not involving cash payments by
the Company or any Subsidiary in such period or any future period, and (v) any LIFO adjustment (if
negative) or charge for such period and minus (b) without duplication and to the extent
included in determining such Consolidated Net Income, any special one-time or extraordinary
non-cash gains for such period and any LIFO adjustment (if positive) or credit, all determined on a
consolidated basis in accordance with GAAP. In the event that the Company or any Subsidiary shall
have completed an acquisition or disposition of any material Person, division or business unit
since the beginning of the relevant period, Consolidated EBITDA shall be determined for such period
on a pro forma basis as if such acquisition or disposition, and any related
incurrence or repayment of Indebtedness, had occurred at the beginning of such period.

“Consolidated Net Income” means, for any period, the net income or loss of the Company and the
Subsidiaries for such period determined on a consolidated basis in accordance with GAAP; provided
that there shall be excluded (a) the income or loss of any Person (other than the Company) that is
not a Subsidiary, except to the extent of the amount of dividends or other distributions actually
paid to the Company or any of the Subsidiaries during such period, and (b) the income or loss of
any Person accrued prior to the date it becomes a Subsidiary or is merged into, amalgamated with or
consolidated with the Company or any Subsidiary or the date that such Person’s assets are acquired
by the Company or any Subsidiary.

 

7

 

“Consolidated Tangible Assets” means the book value of the total consolidated assets of the
Company and the Subsidiaries less the book value of all intangible assets, including goodwill,
trademarks, non-compete agreements, customer relationships, patents, unamortized deferred financing
fees, and other rights or nonphysical resources that are presumed to represent an advantage to the
Company in the marketplace, in each case determined on a consolidated basis in accordance with
GAAP.

“Contract Period” means, with respect to any B/A, the period commencing on the date such B/A
is issued, accepted and purchased and ending on the date that is seven or 14 days or one, two,
three and six months thereafter, as the applicable Canadian Borrowing Subsidiary may elect or, to
the extent agreed to by each Tranche One Lender, such other number of days (not in excess of 180)
as shall be requested by the applicable Canadian Borrowing Subsidiary; provided that if such
Contract Period would end on a day other than a Business Day, such Contract Period shall be
extended to the next succeeding Business Day.

“Control” means the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of a Person, whether through the ability to exercise voting
power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto.

“Credit Party” means the Administrative Agent, an Issuing Bank, a Swingline Lender or any
other Lender.

“Default” means any event or condition which constitutes an Event of Default or which upon
notice, lapse of time or both would, unless cured or waived, become an Event of Default.

“Defaulting Lender” means any Lender that (a) has failed, within two Business Days of the date
required to be funded, purchased or paid, to (i) fund any portion of its Loans, (ii) fund any
portion of its participations in Letters of Credit or Swingline Loans, (iii) accept and purchase
any B/A or (iv) pay over to any Credit Party any other amount required to be paid by it hereunder,
unless, in the case of clause (i) above, such Lender notifies the Administrative Agent in writing
that such failure is the result of such Lender’s good faith determination that a condition
precedent to funding (specifically identified and including the particular default, if any) has not
been satisfied, (b) has notified the Company or any Credit Party in writing, or has made a public
statement to the effect, that it does not intend or expect to comply with any of its funding
obligations under this Agreement (unless such writing or public statement indicates that such
position is based on such Lender’s good faith determination that a condition precedent
(specifically identified and including the particular default, if any) to funding a loan under this
Agreement cannot be satisfied), (c) has failed, within three Business Days after request by a
Credit Party, acting in good faith, to provide a certification in writing from an authorized
officer of such Lender that it will comply with its obligations (and is financially able to meet
such obligations) to fund prospective Loans and participations in then outstanding Letters of
Credit and Swingline Loans under this Agreement; provided that such Lender shall cease to be a
Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt of such
certification in form and substance satisfactory to it and the Administrative Agent or (d) has
become the subject of a Bankruptcy Event.

 

8

 

“Designated Currency” means, in relation to any Tranche, any currency (a) that is freely
transferable and convertible into US Dollars in the London market, (b) for which LIBO Rates can be
determined by reference to the applicable Reuters screen as provided in the definition of “LIBO
Rate” and (c) that has been designated by the Administrative Agent as a Designated
Currency under such Tranche at the request of the Company and with the consent of each Lender
with a Commitment or a Revolving Credit Exposure under such Tranche. If the applicable Lenders and
the Administrative Agent shall so elect, the designation of a currency as a Designated Currency in
relation to any Tranche may be limited to one or more of the Borrowers entitled to borrow under
such Tranche.

“Designated Obligations” means all obligations of the Borrowers with respect to (a) principal
of and interest on the Revolving Loans, (b) participations in Swingline Loans funded (or required
to be funded as provided in Article IX) by the Tranche One Lenders or the Tranche Two Lenders, as
applicable, (c) amounts payable to the Tranche One Lenders in respect of B/As, (d) unreimbursed LC
Disbursements and interest thereon and (e) all facility fees and Letter of Credit participation
fees.

"Designated Subsidiary” means each Subsidiary that is not an Excluded Subsidiary.

“Discount Proceeds” means, with respect to any B/A, an amount (rounded upward, if necessary,
to the nearest Cdn.$.01) calculated by multiplying (a) the face amount of such B/A by (b) the
quotient obtained by dividing (i) one by (ii) the sum of (A) one and (B) the product of (x) the
Discount Rate (expressed as a decimal) applicable to such B/A and (y) a fraction of which the
numerator is the Contract Period applicable to such B/A and the denominator is 365, with such
quotient being rounded upward or downward to the fifth decimal place and .000005 being rounded
upward.

“Discount Rate” means, with respect to a B/A being accepted and purchased on any day, (a) for
a Lender which is a Schedule I Lender, (i) the CDOR Rate applicable to such B/A or (ii) if the
discount rate for a particular Contract Period is not quoted on the Reuters Screen CDOR Page, the
arithmetic average (as determined by the Administrative Agent, acting through its Toronto branch)
of the percentage discount rates (expressed as a decimal and rounded upward, if necessary, to the
nearest 1/100 of 1%) quoted to the Administrative Agent, acting through its Toronto branch, by the
Schedule I Reference Lenders as the percentage discount rate at which each such bank would, in
accordance with its normal practices, at approximately 10:00 a.m., Toronto time, on such day, be
prepared to purchase bankers’ acceptances accepted by such bank having a face amount and term
comparable to the face amount and Contract Period of such B/A and (b) for a lender which is a
Non-Schedule I Lender, the lesser of (i) the CDOR Rate applicable to such B/A referred to in clause
(a) above as if such Non-Schedule I Lender were a Schedule I Lender plus 0.10% per annum
and (ii) the arithmetic average (as determined by the Administrative Agent, acting through its
Toronto branch) of the percentage discount rates (expressed as a decimal and rounded upward, if
necessary, to the nearest 1/100 of 1%) quoted to the Administrative Agent, acting through its
Toronto branch, by the Non-Schedule I Reference Lenders as the percentage discount rate at which
each such bank would, in accordance with its normal practices, at approximately 10:00 a.m., Toronto
time, on such day, be prepared to purchase bankers’ acceptances accepted by such bank having a face
amount and term comparable to the face amount and Contract Period of such B/A.

“Domestic Subsidiary” means any Subsidiary other than a Foreign Subsidiary.

 

9

 

“Effective Date” means the date on which the conditions specified in Section 4.01 are
satisfied (or waived in accordance with Section 11.02).

“Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees,
judgments, injunctions, notices or binding agreements issued, promulgated or
entered into by any Governmental Authority, relating in any way to the environment,
preservation or reclamation of natural resources, the management, release or threatened release of
any Hazardous Material or to health and safety matters.

“Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the
Company or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any
Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or
disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or
threatened release of any Hazardous Materials into the environment or (e) any contract, agreement
or other consensual arrangement pursuant to which liability is assumed or imposed with respect to
any of the foregoing.

“Equity Interests” means shares of capital stock, partnership interests, membership interests
in a limited liability company, beneficial interests in a trust or other equity ownership interests
in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or
acquire any such equity interest.

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to
time.

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

“ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the
regulations issued thereunder with respect to a Plan (other than an event for which the 30-day
notice period is waived); (b) a failure by any Plan to satisfy the minimum funding standards (as
defined in Section 412 of the Code or Section 302 of ERISA) applicable to such Plan, in each
instance, whether or not waived; (c) the filing pursuant to Section 412(c) of the Code or Section
302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any
Plan; (d) a determination that any Plan is, or is expected to be, in “at-risk” status (as defined
in Section 430(i)(4) of the Code or Section 303(i)(4) of ERISA); (e) the incurrence by the Company
or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the
termination of any Plan; (f) the receipt by the Company or any ERISA Affiliate from the PBGC or a
plan administrator of any notice relating to an intention to terminate any Plan or Plans or to
appoint a trustee to administer any Plan; (g) the incurrence by the Company or any of its ERISA
Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or
Multiemployer Plan; or (h) the receipt by the Company or any ERISA Affiliate of any notice, or the
receipt by any Multiemployer Plan from the Company or any ERISA Affiliate of any notice, concerning
the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is
expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA or in
“endangered” or “critical” status, within the meaning of Section 432 of the Code or Section 305 of
ERISA.

 

10

 

“EURIBO Rate” means, with respect to any EURIBOR Borrowing for any Interest Period, (a) the
applicable Screen Rate or (b) if no Screen Rate is available for such Interest Period, the
arithmetic mean of the rates quoted by the Reference Banks to leading banks in the Banking
Federation of the European Union for the offering of deposits in Euros and for a period comparable
to such Interest Period, in each case as of the Specified Time on the Quotation Day.

“EURIBOR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or
the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the
Adjusted EURIBO Rate.

“Euro” or “€” means the single currency of the European Union as constituted by the Treaty on
European Union and as referred to in the EMU Legislation.

“Euro Overnight Rate” means, on any day, the rate per annum determined by the London office of
the Administrative Agent for overnight deposits in Euro at approximately 11:00 a.m., London time,
on such day by reference to the Reuters “EONIA” screen displaying European Central Bank rates;
provided, however, that if the applicable screen shall no longer exist, “Euro Overnight Rate” shall
mean an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to
the rate at which overnight deposits in Euro approximately equal in principal amount to such
Borrowing are offered to the principal London office of the Administrative Agent in immediately
available funds in the Euro interbank market at approximately 11:00 a.m., London time, on such day.

“Event of Default” has the meaning assigned to such term in Article VII.

“Exchange Rate” means on any day, for purposes of determining the US Dollar Equivalent of any
other currency, the rate at which such other currency may be exchanged into US Dollars at the time
of determination on such day as set forth on the Reuters WRLD Page for such currency. In the event
that such rate does not appear on any Reuters WRLD Page, the Exchange Rate shall be determined by
reference to such other publicly available service for displaying exchange rates as may be agreed
upon by the Administrative Agent and the Company or, in the absence of such an agreement, such
Exchange Rate shall instead be the arithmetic average of the spot rates of exchange of the
Administrative Agent in the market where its foreign currency exchange operations in respect of
such currency are then being conducted, at or about such time as the Administrative Agent shall
elect after determining that such rates shall be the basis for determining the Exchange Rate, on
such date for the purchase of US Dollars for delivery two Business Days later; provided that if at
the time of any such determination, for any reason, no such spot rate is being quoted, the
Administrative Agent may use any reasonable method it deems appropriate to determine such rate, and
such determination shall be conclusive absent manifest error.

“Excluded Subsidiary” means (a) Foreign Subsidiaries, (b) Securitization Entities, (c)
Subsidiaries that are less than 100% owned by the Company to the extent such Subsidiaries are
prohibited by shareholders agreements, joint venture agreements or other similar organizational
documents from guaranteeing the Obligations, (d) Subsidiaries that have assets (including Equity
Interests in other Subsidiaries) of less than $10,000,000 for any such Subsidiary (provided that
all such Subsidiaries’ assets shall not be in excess of $100,000,000 in the aggregate) and (e) J.M.
Blanco, Inc.

 

11

 

“Excluded Taxes” means, with respect to any Lender, (a) income or franchise Taxes imposed on
(or measured by) its net income by the United States of America or by the jurisdiction under the
laws of which such Lender is organized, in which its principal office is located or in which its
applicable Lending Office is located, (b) any branch profits Taxes imposed by the United States of
America or any similar Taxes imposed by any other jurisdiction described in clause (a)(i) above,
(c) any withholding Taxes that are attributable to the failure of such Lender to comply with
Section 2.17(f) and (d) (other than a Lender that becomes a Lender through an assignment under
Section 2.19(b) or by operation of the CAM) any withholding Taxes that are imposed on amounts
payable by a Borrower organized in the United States of America, the United
Kingdom or Canada by any taxation authority of such Borrower’s jurisdiction of organization
(including country) on amounts payable from locations within such jurisdiction to such Lender’s
applicable Lending Office designated for Borrowers organized in such jurisdiction, to the extent
such Taxes are in effect and applicable (including FATCA) (assuming the taking by such Borrower and
such Lender of all actions required in order for available exemptions from such Taxes to be
effective) at the time such Lender becomes a party to this Agreement (or designates a new Lending
Office for Borrowers organized in such jurisdiction), except to the extent that such Lender (or its
assignor, if any) was entitled, at the time of designation of a new Lending Office (or assignment),
to receive additional amounts with respect to such withholding Taxes pursuant to Section 2.17.

“Existing Credit Agreement” means the Credit Agreement dated as of November 14, 2006, as
amended, among the Company, the borrowing subsidiaries party thereto, the lenders party thereto and
JPMCB, as administrative agent.

“Existing Letters of Credit” means each letter of credit previously issued for the account of
the Company pursuant to the Existing Credit Agreement that is (a) outstanding on the Effective Date
and (b) listed on Schedule 2.05.

“Existing Securitization” means the Securitization provided for in the Amended and Restated
Receivables Purchase Agreement dated as of April 29, 2010, among Amerisource Receivables Financial
Corporation, as seller, AmerisourceBergen Drug Corporation, as initial servicer, various purchaser
groups from time to time party thereto and Bank of America, National Association, as administrator.

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement and any
regulations or official interpretations thereof.

“Federal Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if
necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with
members of the Federal Reserve System arranged by Federal funds brokers, as published on the next
succeeding Business Day by the Federal Reserve Bank of New York or, if such rate is not so
published for any day that is a Business Day, the average (rounded upwards, if necessary, to the
next 1/100 of 1%) of the quotations for such day for such transactions received by the
Administrative Agent from three Federal funds brokers of recognized standing selected by it.

“Financial Officer” means (a) with respect to the Company, the chief financial officer,
principal accounting officer, treasurer, controller, assistant treasurer or director of treasury of
the Company and (b) with respect to any Borrowing Subsidiary, the chief financial officer,
principal accounting officer, treasurer, controller, assistant treasurer or director of treasury of
the Company or such Borrowing Subsidiary.

“Fitch” means Fitch, Inc.

 

12

 

“Foreign Subsidiary” means any Subsidiary that is organized under the laws of a jurisdiction
other than the United States of America, any State thereof or the District of Columbia.

“GAAP” means generally accepted accounting principles in the United States of America.

“Governmental Authority” means the government of the United States of America, any other
nation or any political subdivision thereof, whether state or local, and any agency, authority,
instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to
government.

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

“Guarantee Agreement” means the Guarantee Agreement among the Designated Subsidiaries and the
Administrative Agent, substantially in the form of Exhibit D.

“Guarantee Requirement” means, at any time, the requirement that the Administrative Agent
shall have received from each Designated Subsidiary either (i) a counterpart of the Guarantee
Agreement, duly executed and delivered on behalf of such Designated Subsidiary or (ii) in the case
of any Person that becomes a Designated Subsidiary after the Effective Date, a supplement to the
Guarantee Agreement in a form reasonably acceptable to the Company and the Administrative Agent,
duly executed and delivered on behalf of such Designated Subsidiary; provided that a Designated
Subsidiary shall not be required to become a Guarantor under the Guarantee Agreement if the Company
shall have advised the Administrative Agent that it would be a violation of applicable law for such
Designated Subsidiary to take such action or if, in the judgment of the Administrative Agent, in
consultation with the Company, the expense, tax or regulatory consequences or difficulty of taking
such action would not, in light of the benefits to accrue to the Lenders, justify taking such
action.

“Guarantor” means each Subsidiary required to enter into the Guarantee Agreement as a
guarantor.

“Hazardous Materials” means all explosive or radioactive substances or wastes and all
hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas,
infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to
any Environmental Law.

 

13

 

“Hedging Agreement” means any interest rate protection agreement, foreign currency exchange
agreement, commodity price protection agreement or other interest or currency exchange rate or
commodity price hedging arrangement or any credit default swap agreement.

“Increase Effective Date” has the meaning set forth in Section 2.09(e).

“Increasing Lender” has the meaning set forth in Section 2.09(d).

“Indebtedness” of any Person means, without duplication, (a) all obligations of such Person
for borrowed money or with respect to deposits (other than customer deposits in respect of accounts
receivable maintained in the ordinary course of business consistent with past practices) or
advances of any kind, (b) all obligations of such Person evidenced by Senior Notes, debentures,
notes or similar instruments, (c) all obligations of such Person upon which interest charges are
customarily paid (excluding trade accounts payable and obligations to pay salary or benefits under
deferred compensation, executive compensation or other benefit programs), (d) all obligations of
such Person under conditional sale or other title retention agreements relating to property
acquired by such Person, (e) all obligations of such Person in respect of the deferred purchase
price of property or services (excluding current accounts payable incurred in the ordinary course
of business), (f) all Indebtedness of others secured by (or for which the holder of such
Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property
owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed,
(g) all Guarantees by such Person of Indebtedness of others, (h) all Capital Lease Obligations and
Synthetic Lease Obligations of such Person, (i) all obligations, contingent or otherwise, of such
Person as an account party in respect of letters of credit and letters of guaranty, (j) all
obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances and (k) all
obligations of such Person incurred under or in connection with a Securitization. The Indebtedness
of any Person shall include the Indebtedness of any other entity (including any partnership in
which such Person is a general partner) to the extent such Person is liable therefor as a result of
such Person’s ownership interest in or other relationship with such entity, except to the extent
the terms of such Indebtedness provide that such Person is not liable therefor.

“Indemnified Taxes” means Taxes other than Excluded Taxes.

“Indemnitee” has the meaning set forth in Section 11.03(b).

“Index Debt” means the Company’s senior, unsecured, non-credit-enhanced long-term Indebtedness
for borrowed money.

“Information Memorandum” means the Confidential Information Memorandum dated February 2011
relating to the Company and the Transactions.

“Initial Borrowings” has the meaning set forth in Section 2.09(e).

“Interest Election Request” means a request by a Borrower to convert or continue a Revolving
Borrowing or B/A Drawing in accordance with Section 2.08.

“Interest Payment Date” means (a) with respect to any ABR Loan or Canadian Prime Rate Loan
(other than a Swingline Loan), the first day of each January, April, July and October, (b) with
respect to any LIBOR Loan or EURIBOR Loan, the last day of the Interest Period applicable to the
Borrowing of which such Loan is a part and, in the case of a LIBOR Borrowing or a EURIBOR Borrowing
with an Interest Period of more than three months’ duration, each day prior to the last day of such
Interest Period that occurs at intervals of three months’ duration after the first day of such
Interest Period, (c) with respect to any Swingline Loan, the day that such Loan is required to be
repaid and (d) with respect to any Swingline Loan denominated in Sterling or Euro, the first
Business Day of each calendar month.

 

14

 

“Interest Period” means, with respect to any LIBOR Borrowing or EURIBOR Borrowing, the period
commencing on the date of such Borrowing and ending on the numerically corresponding day in the
calendar month that is one, two, three or six months (or, with consent of each Lender under the
applicable Tranche, nine or 12 months) thereafter, as the applicable
Borrower may elect; provided that (a) if any Interest Period would end on a day other than a
Business Day, such Interest Period shall be extended to the next succeeding Business Day unless
such next succeeding Business Day would fall in the next calendar month, in which case such
Interest Period shall end on the next preceding Business Day and (b) any Interest Period that
commences on the last Business Day of a calendar month (or on a day for which there is no
numerically corresponding day in the last calendar month of such Interest Period) shall end on the
last Business Day of the last calendar month of such Interest Period. For purposes hereof, the
date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter
shall be the effective date of the most recent conversion or continuation of such Borrowing.

“Issuing Bank” means (a) JPMCB, (b) Wells Fargo Bank N.A. and (c) each other Lender that shall
have become an Issuing Bank hereunder as provided in Section 2.05(j) (other than any Person that
shall have ceased to be an Issuing Bank as provided in Section 2.05(k)), each in its capacity as an
issuer of Letters of Credit hereunder. Each Issuing Bank may, in its discretion, arrange for one
or more Letters of Credit to be issued by Affiliates of such Issuing Bank, in which case the term
“Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such
Affiliate.

“Issuing Bank Agreement” shall have the meaning assigned to such term in Section 2.05(j).

“JPMCB” means JPMorgan Chase Bank, N.A.

“LC Commitment” shall mean, as to each Issuing Bank, the commitment of such Issuing Bank to
issue Letters of Credit pursuant to Section 2.05. The initial amount of each Issuing Bank’s LC
Commitment is set forth on Schedule 2.05 or in such Issuing Bank’s Issuing Bank Agreement.

“LC Disbursement” means a Tranche One LC Disbursement or a Tranche Two LC Disbursement.

“LC Exposure” means, at any time, the sum of the Tranche One LC Exposure and the Tranche Two
LC Exposure at such time.

“Lenders” means the Persons listed on Schedule 2.01 and any other Person that shall
have become a Lender pursuant to an Assignment and Assumption or Section 2.09(d), other than any
such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. Unless the
context otherwise requires, the term “Lenders” includes each Swingline Lender.

“Lending Office” means a Tranche One Lending Office or a Tranche Two Lending Office.

 

15

 

“Letter of Credit” means any Tranche One Letter of Credit or Tranche Two Letter of Credit.
For the avoidance of doubt, nothing herein shall prohibit any Lender from issuing letters of credit
for the account of the Company and the Subsidiaries in addition to those issued under this
Agreement.

“Leverage Ratio” means, on any date, the ratio of (a) Total Indebtedness as of such date to
(b) Consolidated EBITDA for the period of four consecutive fiscal quarters of the Company ended on
such date (or, if such date is not the last day of a fiscal quarter, ended on the last day of the
fiscal quarter of the Company most recently ended prior to such date); provided that for purposes
of determining the Leverage Ratio at any time, the outstanding amount of the
Revolving Loans and B/As and all other revolving Indebtedness, and the amounts of all
Securitizations, included in Total Indebtedness shall be deemed to equal the average of (i) the
outstanding amounts of the Revolving Loans and B/As and other revolving Indebtedness and (ii) the
amounts of all Securitizations, in each case on the last day of each of the four most recently
ended fiscal quarters, net of Permitted Investments not to exceed $100,000,000 on the last day of
each such quarter.

“LIBO Rate” means, with respect to any LIBOR Borrowing denominated in any currency for any
Interest Period, (a) the applicable Screen Rate or (b) if no Screen Rate is available for such
currency or for such Interest Period, the arithmetic mean of the rates quoted by the Reference
Banks to leading banks in the London interbank market for the offering of deposits in such currency
and for a period comparable to such Interest Period, in each case as of the Specified Time on the
Quotation Day.

“LIBOR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the
Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the
Adjusted LIBO Rate.

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

“Loan Documents” means this Agreement, each promissory note issued hereunder, the Guarantee
Agreement and any other guarantee agreement entered into pursuant to Section 6.01(a).

“Loan Parties” means, at any time, the Company, each other Borrower and each Subsidiary that
at such time is, or is required to be, a party to the Guarantee Agreement or any other guarantee
agreement entered into pursuant to Section 6.01(a).

“Loans” means the loans made by the Lenders to the Borrowers pursuant to this Agreement.

“Local Time” means (a) with respect to a Loan or Borrowing denominated in US Dollars
or any Letter of Credit, New York City time, (b) with respect to a Loan or Borrowing
denominated in Sterling, Euros or an Alternative Currency, London time and (c) with respect to a
Canadian Prime Rate Loan or other Loan or Borrowing denominated in Canadian Dollars or any B/A,
Toronto time.

 

16

 

“Mandatory Costs Rate” has the meaning set forth in Exhibit E.

“Material Adverse Effect” means a material adverse effect on (a) the business, results of
operations or financial condition of the Company and the Subsidiaries taken as a whole, (b) the
ability of the Loan Parties, taken as a whole, to perform any of their obligations under any Loan
Document or (c) the rights of or benefits available to the Lenders under any Loan Document.

“Material Indebtedness” means Indebtedness (other than the Loans, B/As and Letters of Credit),
or obligations in respect of one or more Hedging Agreements, of any one or more of the Company and
the Subsidiaries in an aggregate principal amount exceeding
US$50,000,000. For purposes of determining Material Indebtedness, the “principal amount” of
the obligations of the Company or any Subsidiary in respect of any Hedging Agreement at any time
shall be the maximum aggregate amount (giving effect to any netting agreements) that the Company or
such Subsidiary would be required to pay if such Hedging Agreement were terminated at such time.

“Maturity Date” means March 18, 2015.

“Moody’s” means Moody’s Investors Service, Inc.

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

“Non-Schedule I Lender” means any Lender not named on Schedule I to the Bank Act (Canada).

“Non-Schedule I Reference Lender” means JPMCB, acting through its Toronto branch.

“Obligations” means (a) the principal of and premium, if any, and interest (including interest
accruing during the pendency of any bankruptcy, insolvency, receivership or other similar
proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans, (b) all
reimbursement obligations of any Borrower in respect of B/As accepted hereunder, when and as due,
whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (c)
each payment required to be made by any Borrower under this Agreement in respect of any Letter of
Credit, when and as due, including payments in respect of reimbursement of LC Disbursements,
interest thereon and obligations to provide cash collateral, (d) all other monetary obligations,
including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent,
fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy,
insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in
such proceeding), of the Loan Parties under this Agreement and the other Loan Documents and (e) the
due and punctual payment and performance of all obligations of the Company and the Subsidiaries
under all Hedging Agreements and cash management arrangements or agreements (i) existing on the
date hereof with a Person that is a Lender on the date hereof (or an Affiliate of such a Lender) or
(ii) with a Person that shall have been a Lender at the time the applicable Hedging Agreement or
cash management arrangement or agreement was entered into (or an Affiliate of such a Lender).

“Other Connection Taxes” means, with respect to any Credit Party, Taxes imposed as a result of
a present or former connection between such Credit Party and the jurisdiction imposing such Taxes
(other than a connection arising from such Credit Party having executed, delivered, enforced,
become a party to, performed its obligations under, received payments under, received or perfected
a security interest under, or engaged in any other transaction pursuant to, or enforced, any Loan
Document, or sold or assigned an interest in any Loan Document).

 

17

 

“Other Taxes” means any and all present or future stamp or documentary Taxes or any other
excise or property Taxes, charges or similar levies arising from any payment made under any Loan
Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Loan
Document.

“Participant” has the meaning set forth in Section 11.04.

“Participant Register” has the meaning set forth in Section 11.04.

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any
successor entity performing similar functions.

“Permitted Encumbrances” means:

(a) Liens imposed by law for Taxes that are not yet due or are being contested in compliance
with Section 5.04;

(b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens
imposed by law, arising in the ordinary course of business and securing obligations that are not
overdue by more than 60 days or are being contested in compliance with Section 5.04;

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

(d) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in
each case in the ordinary course of business;

(e) judgment liens in respect of judgments that do not constitute an Event of Default under
clause (k) of Article VII; and

(f) easements, zoning restrictions, rights-of-way and similar encumbrances on real property
imposed by law or arising in the ordinary course of business that do not secure any monetary
obligations and do not materially detract from the value of the affected property or interfere with
the ordinary conduct of business of the Company or any Subsidiary;

provided that the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness.

“Permitted Investments” means:

(a) direct obligations of, or obligations the principal of and interest on which are
unconditionally guaranteed by, the United States of America (or by any agency thereof to the extent
such obligations are backed by the full faith and credit of the United States of America), in each
case maturing within 24 months from the date of acquisition thereof;

 

18

 

(b) Indebtedness maturing within 24 months issued by and constituting direct obligations of
any of the following agencies or any other like governmental or government-sponsored agency, as
follows: Federal Farm Credit Bank; Federal Intermediate Credit Bank; Federal Financings Bank;
Federal Home Loan Bank System; Federal Home Loan Mortgage Corporation; Federal National Mortgage
Association; Tennessee Valley Authority; Student Loan Marketing Association; Export-Import Bank of
the United States; Farmers Home Administration; Small Business Administration; Inter-American
Development Bank; International Bank for Reconstruction and Development; Federal Land Banks; and
Government National Mortgage Association;

(c) direct and general obligations of any state of the United States of America or any
municipality or political subdivision of such state, including auction rate securities
(“Auctions”), variable demand notes (“VRDNs”) and non rated pre-funded debt, or obligations of
any corporation, maturing (or, in the case of Auctions and VRDNs, having their next reset date)
within 24 months if such obligations, except pre-refunded debt, are rated at least (i) in the case
of Auctions or VRDNs, A2 by Moody’s or A by S&P or (ii) in all other cases, VMIG-1 by Moody’s or A
by S&P;

(d) obligations (including asset-backed obligations) maturing within 24 months of any
corporation, partnership, trust or other entity which are rated at least P1 by Moody’s or A1 by S&P
(short-term rating) or A2 by Moody’s or A by S&P (long-term rating);

(e) investments in commercial paper maturing within 270 days from the date of acquisition
thereof and rated, at such date of acquisition, at least P1 by Moody’s or A1 by S&P, and
investments in master notes that are rated (or that have been issued by an issuer that is rated
with respect to a class of short-term debt obligations, or any security within that class, that is
comparable in priority and security with said master note) at least P1 by Moody’s or A1 by S&P;

(f) investments in certificates of deposit, banker’s acceptances and time deposits maturing
within 180 days from the date of acquisition thereof issued or guaranteed by or placed with, and
money market deposit accounts issued or offered by, any domestic office of any commercial bank
organized under the laws of the United States of America or any State thereof which has a combined
capital and surplus and undivided profits of not less than $500,000,000;

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

(h) money market funds.

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

“Plan” means any employee pension benefit plan (other than a Multiemployer Plan) subject to
the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in
respect of which the Company or any ERISA Affiliate is (or, if such plan were terminated, would
under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA.

“Prime Rate” means in the case of a Borrowing in US Dollars by the Company, a US Borrowing
Subsidiary or a Canadian Borrowing Subsidiary, the rate of interest per annum publicly announced
from time to time by JPMCB as its prime rate in effect at its principal office in New York City.
Each change in the Prime Rate shall be effective from and including the date such change is
publicly announced as being effective.

 

19

 

“Proceeds” has the meaning specified in Section 9-102 of the Uniform Commercial Code of the
State of New York.

“Quotation Day” means (a) with respect to any currency (other than Sterling) for any Interest
Period, the day two Business Days prior to the first day of such Interest Period and (b) with
respect to Sterling for any Interest Period, the first day of such Interest Period, in each case
unless market practice differs in the Relevant Interbank Market for any currency, in which case the
Quotation Day for such currency shall be determined by the Administrative Agent in accordance
with market practice in the Relevant Interbank Market (and if quotations would normally be
given by leading banks in the Relevant Interbank Market on more than one day, the Quotation Day
shall be the last of those days).

“Reference Banks” means with respect to the LIBO Rate or the EURIBO Rate, the principal London
offices of J.P. Morgan Chase Bank, N.A., Bank of America, N.A. and Wells Fargo Bank N.A., or such
other banks as may be appointed by the Administrative Agent in consultation with the Company.

“Register” has the meaning set forth in Section 11.04.

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

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

“Related Fund” means, with respect to any Lender that is a fund or trust that makes, buys or
invests in commercial loans, any other fund or trust that makes, buys or invests in commercial
loans and is managed by the same investment advisor as such Lender.

“Related Parties” means, with respect to any specified Person, such Person’s Affiliates and
the respective directors, officers, employees, agents and advisors of such Person and such Person’s
Affiliates.

“Relevant Interbank Market” means (a) with respect to any currency (other than Euros), the
London interbank market and (b) with respect to Euros, the European interbank market.

“Required Lenders” means, at any time, Lenders having Revolving Credit Exposures and unused
Commitments representing more than 50% of the sum of the total Revolving Credit Exposures and
unused Commitments at such time.

“Restricted Payment” means any dividend or other distribution (whether in cash, securities or
other property) with respect to any Equity Interests in the Company or any Subsidiary, or any
payment (whether in cash, securities or other property), including any sinking fund or similar
deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or
termination of any Equity Interests in the Company or any Subsidiary or any option, warrant or
other right to acquire any such Equity Interests in the Company or any Subsidiary; provided that no
such dividend, distribution or payment shall constitute a “Restricted Payment” to the extent made
solely with common stock of the Company.

 

20

 

“Revolving Credit Exposure” means a Tranche One Revolving Credit Exposure or a Tranche Two
Revolving Credit Exposure.

“Revolving Loan” means any Tranche One Revolving Loan or Tranche Two Revolving Loan, as
applicable.

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.,
and its successors.

“Schedule I Lender” means any Lender named on Schedule I to the Bank Act (Canada).

“Schedule I Reference Lenders” means any Schedule I Lender agreed upon by the Company and the
Administrative Agent, acting through its Toronto branch, from time to time.

“Screen Rate” means (a) in respect of the LIBO Rate for any currency for any Interest Period,
the British Bankers Association Interest Settlement Rate for such currency and such Interest Period
as set forth on the applicable Reuters screen (and if such screen is replaced or such service
ceases to be available, another screen or service displaying the appropriate rate designated by the
Administrative Agent) and (b) in respect of the EURIBO Rate for any Interest Period, the percentage
per annum determined by the Banking Federation of the European Union for such Interest Period as
set forth on the applicable screen of the Reuters Service (and if such screen is replaced or such
service ceases to be available, another screen or service displaying the appropriate rate
designated by the Administrative Agent).

“Securitization” means any transfer by the Company or any Subsidiary of accounts receivable
and Proceeds thereof or interests therein (a) to a trust, partnership, corporation, limited
liability company or other entity, which transfer is funded in whole or in part, directly or
indirectly, by the incurrence or issuance by the transferee or successor transferee of Indebtedness
or other securities that are to receive payments from, or that represent interests in, the cash
flow derived from such accounts receivable or interests therein, or (b) directly to one or more
investors or other purchasers. The “amount” or “principal amount” of any Securitization shall be
deemed at any time to be the aggregate principal or stated amount of the Indebtedness or other
securities referred to in the first sentence of this definition or, if there shall be no such
principal or stated amount, the uncollected amount of the accounts receivable or interests therein
transferred pursuant to such Securitization, net of any such accounts receivables or interests
therein that have been written off as uncollectible.

“Securitization Entity” means AmeriSource Receivables Financial Corporation, a Delaware
corporation, and any other wholly owned limited purpose Subsidiary that purchases accounts
receivable of the Company or any Subsidiary pursuant to a Securitization.

“Senior Notes” means the Company’s (a) 55⁄8% Senior Notes due 2012 in an original aggregate
principal amount of $400,000,000, (b) 57⁄8% Senior Notes due 2015 in an original aggregate principal
amount of $500,000,000 and (c) 47⁄8% Senior Notes due 2019 in an original aggregate principal amount
of $400,000,000.

“Significant Subsidiary” means each Subsidiary other than any Subsidiary or Subsidiaries that
individually or in the aggregate did not account for more than 1% of the assets or revenues of the
Company and the Subsidiaries on a consolidated basis at the end of or for the most recent four
fiscal quarter period for which financial statements have been delivered under Section 5.01(a) or
(b).

 

21

 

“Specified Time” means (a) with respect to the LIBO Rate, 11:00 a.m., London time and (b) with
respect to the EURIBO Rate, 11:00 a.m., Frankfurt time.

“Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is
the number one and the denominator of which is the number one minus the aggregate of the maximum
reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed
as a decimal established by the Board to which the Administrative Agent is subject for eurocurrency
funding (currently referred to as “Eurocurrency Liabilities” in Regulation
D of the Board). Such reserve percentages shall include those imposed pursuant to such
Regulation D. LIBOR Loans shall be deemed to constitute eurocurrency funding and to be subject to
such reserve requirements without benefit of or credit for proration, exemptions or offsets that
may be available from time to time to any Lender under such Regulation D or any comparable
regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective
date of any change in any reserve percentage.

“Sterling” or “£” means the lawful currency of the United Kingdom.

“Sterling Overnight Rate” means, on any day, the rate per annum determined by the London
office of the Administrative Agent for overnight deposits in Sterling at approximately 11:00 a.m.,
London time, on such day by reference to the Reuters “LIBOR01” screen displaying British Bankers’
Assoc. Interest Settlement Rates; provided, however, that if the applicable screen shall no longer
exist, “Sterling Overnight Rate” shall mean an interest rate per annum (rounded upwards, if
necessary, to the next 1/16 of 1%) equal to the rate at which overnight deposits in Sterling
approximately equal in principal amount to such Borrowing are offered to the principal London
office of the Administrative Agent in immediately available funds in the London interbank market at
approximately 11:00 a.m., London time, on such day.

“Subsequent Borrowings” has the meaning set forth in Section 2.09(e).

“subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation,
limited liability company, partnership, association or other entity the accounts of which would be
consolidated with those of the parent in the parent’s consolidated financial statements if such
financial statements were prepared in accordance with GAAP as of such date, as well as any other
corporation, limited liability company, partnership, association or other entity (a) of which
securities or other ownership interests representing more than 50% of the equity or more than 50%
of the ordinary voting power or, in the case of a partnership, more than 50% of the general
partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such
date, otherwise Controlled by the parent or one or more subsidiaries of the parent or by the parent
and one or more subsidiaries of the parent.

“Subsidiary” means any subsidiary of the Company.

“Swingline Exposure” means, at any time, the sum of the Tranche One Swingline Exposure and the
Tranche Two Swingline Exposure at such time.

“Swingline Lender” means JPMCB, or an affiliate thereof, in its capacity as a lender of
Swingline Loans pursuant to Section 2.04.

 

22

 

“Swingline Loan” means a Tranche One Swingline Loan or a Tranche Two Swingline Loan.

“Synthetic Lease” means a lease of property or assets designed to permit the lessees (i) to
claim depreciation on such property or assets under US tax law and (ii) to treat such lease as an
operating lease or not to reflect the leased property or assets on the lessee’s balance sheet under
GAAP.

“Synthetic Lease Obligations” shall mean, with respect to any Synthetic Lease, at any time, an
amount equal to the higher of (x) the aggregate termination value or purchase price or similar
payments in the nature of principal payable thereunder and (y) the then aggregate
outstanding principal amount of the notes or other instruments issued by, and the amount of
the equity investment, if any, in the lessor under such Synthetic Lease.

“Taxes” means any and all present or future taxes, levies, imposts, duties, deductions,
withholdings, assessments, fees or other charges imposed by any Governmental Authority, including
interest, additions to tax or penalties applicable thereto.

“Total Indebtedness” means, as of any date, the sum, without duplication of (a) the aggregate
principal amount of Indebtedness of the Company and the Subsidiaries outstanding as of such date,
in the amount that would be reflected on a balance sheet prepared as of such date on a consolidated
basis in accordance with GAAP, (b) the aggregate of the amounts of all Securitizations of the
Company and the Subsidiaries and (c) the aggregate principal amount of Indebtedness of the Company
and the Subsidiaries outstanding as of such date that is not required to be reflected on a balance
sheet in accordance with GAAP, determined on a consolidated basis.

“Tranche” means a category of Commitments and extensions of credit thereunder. For purposes
hereof, each of the following shall comprise a separate Tranche: (a) the Tranche One Commitments,
the Tranche One Revolving Loans, the B/As, the Tranche One Letters of Credit and the Tranche One
Swingline Loans (“Tranche One”) and (b) the Tranche Two Commitments, the Tranche Two Revolving
Loans, the Tranche Two Letters of Credit and the Tranche Two Swingline Loans (“Tranche Two”).

“Tranche One” has the meaning set forth in the definition of “Tranche”.

“Tranche One Commitment” means, with respect to each Tranche One Lender, the commitment of
such Tranche One Lender to make Tranche One Revolving Loans pursuant to Section 2.01(a), to accept
and purchase B/As pursuant to Section 2.06 and to acquire participations in Tranche One Swingline
Loans and Tranche One Letters of Credit hereunder, expressed as an amount representing the maximum
aggregate amount of such Tranche One Lender’s Tranche One Revolving Credit Exposure hereunder, as
such commitment may be reduced or increased from time to time pursuant to Section 2.09 or
assignments by or to such Tranche One Lender pursuant to Section 11.04. The initial amount of each
Tranche One Lender’s Tranche One Commitment is set forth on Schedule 2.01, or in the Assignment and
Assumption pursuant to which such Tranche One Lender shall have assumed its Tranche One Commitment,
as the case may be. The aggregate amount of the Tranche One Commitments on the Closing Date is
US$505,000,000.

“Tranche One LC Disbursement” means a payment made by an Issuing Bank pursuant to a Tranche
One Letter of Credit.

 

23

 

“Tranche One LC Exposure” means, at any time, (a) the sum of the US Dollar Equivalents of the
undrawn amounts of all outstanding Tranche One Letter of Credits at such time plus (b) the sum of
the US Dollar Equivalents of the amounts of all Tranche One LC Disbursements that have not yet been
reimbursed by or on behalf of the applicable Borrowers at such time. The Tranche One LC Exposure
of any Tranche One Lender at any time shall be its Tranche One Percentage of the total Tranche One
LC Exposure at such time.

“Tranche One Lender” means a Lender with a Tranche One Commitment or a Tranche One Revolving
Credit Exposure.

“Tranche One Lending Office” means, with respect to any Tranche One Lender, the office(s) of
such Lender (or any Affiliate of such Lender) specified as its “Tranche One Lending Office(s)” on
Schedule 2.02 or, as to any Person that becomes a Tranche One Lender
after the Closing Date, in the Assignment and Assumption executed by such Person, or such
other office(s) of such Lender (or an Affiliate of such Lender) as such Lender may hereafter
designate from time to time as its “Tranche One Lending Office(s)” by notice to the Company and the
Administrative Agent. A Tranche One Lender may designate different Tranche One Lending Offices for
Loans to Borrowers in different jurisdictions.

“Tranche One Letter of Credit” means a Letter of Credit issued under Section 2.05 and
designated as a Tranche One Letter of Credit in the request therefor submitted by the applicable
Borrower.

“Tranche One Percentage” means, with respect to any Tranche One Lender at any time, the
percentage of the aggregate Tranche One Commitments represented by such Tranche One Lender’s
Tranche One Commitment at such time; provided that if the Tranche One Commitments have expired or
been terminated, the Tranche One Percentages shall be determined on the basis of the Tranche One
Commitments most recently in effect, giving effect to any assignments.

“Tranche One Revolving Credit Exposure” means, with respect to any Tranche One Lender at any
time, the aggregate amount of (a) the sum of the US Dollar Equivalents of such Tranche One Lender’s
outstanding Tranche One Revolving Loans, (b) the sum of the US Dollar Equivalents at such time of
the face amounts of the B/As accepted by such Tranche One Lender and outstanding at such time, (c)
such Tranche One Lender’s Tranche One LC Exposure and (d) such Tranche One Lender’s Tranche One
Swingline Exposure.

“Tranche One Revolving Loans” means Loans made by the Tranche One Lenders pursuant to Section
2.01(a). Each Tranche One Revolving Loan denominated in US Dollars shall be a LIBOR Loan or,
solely in the case of a Tranche One Revolving Loan denominated in US Dollars and made to the
Company, a US Borrowing Subsidiary or a Canadian Borrowing Subsidiary, an ABR Loan. Each Tranche
One Revolving Loan denominated in Canadian Dollars shall either be a LIBOR Loan or a Canadian Prime
Rate Loan. Each Tranche One Revolving Loan denominated in Sterling or an Alternative Currency
shall be a LIBOR Loan. Each Tranche One Revolving Loan denominated in Euros shall be a EURIBOR
Loan.

“Tranche One Swingline Exposure” means, at any time, the sum of the US Dollar Equivalents of
the outstanding Tranche One Swingline Loans at such time. The Tranche One Swingline Exposure of
any Tranche One Lender at any time shall be its Tranche One Percentage of the total Tranche One
Swingline Exposure at such time.

 

24

 

“Tranche One Swingline Loan” means a Loan made pursuant to Section 2.04 and designated in the
notice delivered by the applicable Borrower pursuant to paragraph (b) of such Section as a Tranche
One Swingline Loan.

“Tranche Percentage” means a Tranche One Percentage or a Tranche Two Percentage, as the case
may be.

“Tranche Two” has the meaning set forth in the definition of “Tranche”.

“Tranche Two Commitment” means, with respect to each Tranche Two Lender, the commitment of
such Tranche Two Lender to make Tranche Two Revolving Loans pursuant to Section 2.01(b) and to
acquire participations in Tranche Two Swingline Loans and Tranche Two Letters of Credit hereunder,
expressed as an amount representing the maximum aggregate amount of such Tranche Two Lender’s
Tranche Two Revolving Credit Exposure hereunder, as such
commitment may be reduced or increased from time to time pursuant to Section 2.09 or
assignments by or to such Tranche Two Lender pursuant to Section 11.04. The initial amount of each
Tranche Two Lender’s Tranche Two Commitment is set forth on Schedule 2.01 or in the Assignment and
Assumption pursuant to which such Tranche Two Lender shall have assumed its Tranche Two Commitment,
as the case may be. The aggregate amount of the Tranche Two Commitments on the Closing Date is
US$195,000,000.

“Tranche Two LC Disbursement” means a payment made by an Issuing Bank pursuant to a Tranche
Two Letter of Credit.

“Tranche Two LC Exposure” means, at any time, (a) the sum of the US Dollar Equivalents of the
undrawn amounts of all outstanding Tranche Two Letter of Credits at such time plus (b) the sum of
the US Dollar Equivalents of the amounts of all Tranche Two LC Disbursements that have not yet been
reimbursed by or on behalf of the applicable Borrowers at such time. The Tranche Two LC Exposure
of any Tranche Two Lender at any time shall be its Tranche Two Percentage of the total Tranche Two
LC Exposure at such time.

“Tranche Two Lender” means a Lender with a Tranche Two Commitment or a Tranche Two Revolving
Credit Exposure.

“Tranche Two Lending Office” means, with respect to any Tranche Two Lender, the office(s) of
such Lender (or any Affiliate of such Lender) specified as its “Tranche Two Lending Office(s)” on
Schedule 2.02 or, as to any Person that becomes a Tranche Two Lender after the Closing Date, in the
Assignment and Assumption executed by such Person, or such other office(s) of such Lender (or an
Affiliate of such Lender) as such Lender may hereafter designate from time to time as its “Tranche
Two Lending Office(s)” by notice to the Company and the Administrative Agent. A Tranche Two Lender
may designate different Tranche Two Lending Offices for Loans to Borrowers in different
jurisdictions.

“Tranche Two Letter of Credit” means a Letter of Credit issued under Section 2.05 and
designated as a Tranche Two Letter of Credit in the request therefor submitted by the applicable
Borrower.

“Tranche Two Percentage” means, with respect to any Tranche Two Lender at any time, the
percentage of the aggregate Tranche Two Commitments represented by such Tranche Two Lender’s
Tranche Two Commitment at such time; provided that if the Tranche Two Commitments have expired or
been terminated, the Tranche Two Percentages shall be determined on the basis of the Tranche Two
Commitments most recently in effect, giving effect to any assignments.

 

25

 

“Tranche Two Revolving Credit Exposure” means, with respect to any Tranche Two Lender at any
time, the aggregate amount of (a) the sum of the US Dollar Equivalents of such Tranche Two Lender’s
outstanding Tranche Two Revolving Loans, (b) such Tranche Two Lender’s Tranche Two LC Exposure and
(c) such Tranche Two Lender’s Tranche Two Swingline Exposure.

“Tranche Two Revolving Loans” means Loans made by the Tranche Two Lenders pursuant to Section
2.01(b). Each Tranche Two Revolving Loan denominated in US Dollars shall be a LIBOR Loan or,
solely in the case of a Tranche Two Revolving Loan denominated in US Dollars and made to the
Company, a US Borrowing Subsidiary or a Canadian Borrowing Subsidiary, an ABR Loan. Each Tranche
Two Revolving Loan denominated in Canadian Dollars,
Sterling or an Alternative Currency shall be a LIBOR Loan. Each Tranche Two Revolving Loan
denominated in Euros shall be a EURIBOR Loan.

“Tranche Two Swingline Exposure” means, at any time, the sum of the US Dollar Equivalents of
the outstanding Tranche Two Swingline Loans at such time. The Tranche Two Swingline Exposure of
any Tranche Two Lender at any time shall be its Tranche Two Percentage of the total Tranche Two
Swingline Exposure at such time.

“Tranche Two Swingline Loan” means a Loan made pursuant to Section 2.04 and designated in the
notice delivered by the applicable Borrower pursuant to paragraph (b) of such Section as a Tranche
Two Swingline Loan.

“Transactions” means the execution, delivery and performance by each Loan Party of the Loan
Documents to which it is to be a party, the making of Loans, the acceptance and purchase of B/As,
the use of the proceeds thereof, the issuance of the Letters of Credit, the creation of the
Guarantees provided for herein and in the other Loan Documents and the other transactions
contemplated hereby.

“Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the
Adjusted LIBO Rate, the Adjusted EURIBO Rate, the Alternate Base Rate or the Canadian Prime Rate.

“UK Borrowing Subsidiary” means any Borrowing Subsidiary that is a UK Subsidiary.

“UK Subsidiary” means any Subsidiary that is incorporated or otherwise organized under the
laws of the United Kingdom or any political subdivision thereof.

“US Borrowing Subsidiary” means any Borrowing Subsidiary that is a US Subsidiary.

“US Dollar Equivalent” means, on any date of determination, (a) with respect to any amount in
US Dollars, such amount and (b) with respect to any amount in any currency other than US Dollars,
the equivalent in US Dollars of such amount, determined by the Administrative Agent pursuant to
Section 1.05 using the Exchange Rate with respect to such currency at the time in effect for such
amount under the provisions of such Section.

 

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“US Dollars” or “US$” means the lawful currency of the United States of America.

“US Subsidiary” means any Subsidiary that is organized under the laws of the United States of
America, any State thereof or the District of Columbia.

“wholly owned” means, as to any Subsidiary, that all the Equity Interests in such Subsidiary
(other than directors’ qualifying shares) are owned, directly or indirectly, by the Company.

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

SECTION 1.02. Classification of Loans and Borrowings. For purposes of this
Agreement, Loans may be classified and referred to by Class (e.g., a “Tranche One Revolving
Loan”) or by Type (e.g., a “LIBOR Revolving Loan”) or by Class and Type (e.g., a
“Tranche One LIBOR Revolving Loan”). Borrowings also may be classified and referred to by Class
(e.g., a “Tranche One Revolving Borrowing”) or by Type (e.g., a “LIBOR Revolving
Borrowing”) or by Class and Type (e.g., a “Tranche One LIBOR Revolving Borrowing”).

SECTION 1.03. 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, instrument or other
document herein shall be construed as referring to such agreement, instrument or other document as
from time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (b) any definition of or reference to
any statute, regulation or other law herein shall be construed (i) as referring to such statute,
regulation or other law as from time to time amended, supplemented or otherwise modified (including
by succession of comparable successor statutes, regulations or other laws) and (ii) to include all
official rulings and interpretations thereunder having the force of law or with which affected
Persons customarily comply, (c) any reference herein to any Person shall be construed to include
such Person’s successors and assigns, (d) 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, (e) all references herein to Articles, Sections, Exhibits and
Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to,
this Agreement and (f) 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 contract rights.

 

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SECTION 1.04. Accounting Terms; GAAP; Pro Forma Computations. (a) Except as
otherwise expressly provided herein, all terms of an accounting or financial nature shall be
construed in accordance with GAAP, as in effect from time to time; provided that, if the Company
notifies the Administrative Agent that the Company requests an amendment to any provision hereof to
eliminate the effect of any change occurring after the date hereof in GAAP or in the application
thereof on the operation of such provision (or if the Administrative Agent notifies the Company
that the Required Lenders request an amendment to any provision hereof for such purpose),
regardless of whether any such notice is given before or after such change in GAAP or in the
application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and
applied immediately before such change shall have become effective until such notice shall have
been withdrawn or such provision amended in accordance herewith.

(b) All pro forma computations required to be made hereunder giving effect to
any acquisition, investment, sale, disposition, merger, amalgamation or similar event shall reflect
on a pro forma basis such event as if it occurred on the first day of the relevant
period and, to the extent applicable, the historical earnings and cash flows associated with the
assets acquired or disposed of for such relevant period and any related incurrence or reduction of
Indebtedness for such relevant period, but shall not take into account any projected synergies or
similar benefits expected to be realized as a result of such event other than cost savings
permitted to be included in reports filed with the Securities and Exchange Commission under
Regulation S-X.

SECTION 1.05. Currency Translation. The Administrative Agent shall determine the US
Dollar Equivalent of any Borrowing denominated in a currency other than US Dollars, other than a
Canadian Prime Rate Borrowing or Swingline Loan denominated in Canadian Dollars or Sterling, as of
the date of the commencement of the initial Interest Period therefor and as of the date of the
commencement of each subsequent Interest Period therefor, in each case using the Exchange Rate for
such currency in relation to US Dollars in effect on the date that is three Business Days prior to
the date on which the applicable Interest Period shall commence, and each such amount shall, except
as provided in the last two sentences of this Section, be the US Dollar Equivalent of such
Borrowing until the next required calculation thereof pursuant to this sentence. The
Administrative Agent shall determine the US Dollar Equivalent of any Letter of Credit denominated
in a currency other than US Dollars as of the date such Letter of Credit is issued, amended to
increase its face amount, extended or renewed and as of the last Business Day of each subsequent
calendar quarter, in each case using the Exchange Rate for such currency in relation to US Dollars
in effect on the date that is three Business Days prior to the date on which such Letter of Credit
is issued, amended to increase its face amount, extended or renewed and as of the last Business Day
of such subsequent calendar quarter, as the case may be, and each such amount shall, except as
provided in the last two sentences of this Section, be the US Dollar Equivalent of such Letter of
Credit until the next required calculation thereof pursuant to this sentence. The Administrative
Agent shall determine the US Dollar Equivalent of any Canadian Prime Rate Borrowing, Swingline Loan
denominated in Canadian Dollars or Sterling or B/A as of the date on which such Loan is made or
such B/A is accepted and purchased and as of the last Business Day of each subsequent calendar
quarter, in each case using the Exchange Rate for the applicable currency in relation to US Dollars
in effect on the last Business Day of the calendar quarter preceding the date of such Borrowing or
acceptance and purchase (or, if such Borrowing or acceptance and purchase occurs on the last
Business Day of a calendar quarter, on such Business Day) and as of the last Business Day of such
subsequent calendar quarter, as the case may be, and each such amount shall, except as provided in
the last two sentences of this Section, be the US Dollar Equivalent of such Canadian Prime Rate
Borrowing or B/A until the next required calculation thereof pursuant to this sentence. The
Administrative Agent shall notify the Company and the Lenders of each calculation of the US Dollar
Equivalent of each Borrowing, B/A or Letter of Credit. Notwithstanding the foregoing, for purposes
of any determination of the CAM Percentages, any determination under Article V, Article VI (other
than Section 6.11) or Article VII or any determination under any other provision of this Agreement
expressly requiring the use of a current exchange rate, all amounts incurred, outstanding or
proposed to be incurred or outstanding in currencies other than US Dollars shall be translated into
US Dollars at currency exchange rates in effect on the date of such determination. For purposes of
Section 6.11, amounts in currencies other than US Dollars shall be translated into US Dollars at
the currency exchange rates used in preparing the Company’s annual and quarterly financial
statements.

 

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ARTICLE II

The Credits 

SECTION 2.01. Commitments. (a) Tranche One Commitments. Subject to the
terms and conditions set forth herein, each Tranche One Lender agrees (i) to make Tranche One
Revolving Loans denominated in US Dollars, Sterling, Euro or Designated Currencies to the
Borrowers, (ii) to make Tranche One Revolving Loans denominated in Canadian Dollars to the
Borrowers that are Canadian Subsidiaries and (iii) to accept and purchase drafts drawn by Borrowers
that are Canadian Subsidiaries in Canadian Dollars as B/As, in each case from time to time during
the Availability Period in an aggregate principal or face amount at any time outstanding that will
not result in (A) the aggregate Tranche One Revolving Credit Exposures
exceeding the aggregate Tranche One Commitments or (B) the Tranche One Revolving Credit
Exposure of any Lender exceeding its Tranche One Commitment. Within the foregoing limits and
subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow
Tranche One Revolving Loans and sell and pay drafts drawn as B/As.

(b) Tranche Two Commitments. Subject to the terms and conditions set forth herein,
each Tranche Two Lender agrees (i) to make Tranche Two Revolving Loans denominated in US Dollars,
Sterling, Euro or Designated Currencies to the Borrowers and (ii) to make Tranche Two Revolving
Loans denominated in Canadian Dollars to the Borrowers that are Canadian Subsidiaries, in each case
from time to time during the Availability Period in an aggregate principal amount at any time
outstanding that will not result in (A) the aggregate Tranche Two Revolving Credit Exposures
exceeding the aggregate Tranche Two Commitments or (B) the Tranche Two Revolving Credit Exposure of
any Lender exceeding its Tranche Two Commitment. Within the foregoing limits and subject to the
terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow Tranche Two
Revolving Loans.

SECTION 2.02. Loans and Borrowings. (a) Each Tranche One Revolving Loan shall be
made as part of a Tranche One Revolving Borrowing consisting of Tranche One Revolving Loans of the
same Type and currency made by the Tranche One Lenders ratably in accordance with their respective
Tranche One Commitments. Each Tranche Two Revolving Loan shall be made as part of a Tranche Two
Revolving Borrowing consisting of Tranche Two Revolving Loans of the same Type and currency made by
the Tranche Two Lenders ratably in accordance with their respective Tranche Two Commitments. The
failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender
of its obligations hereunder; provided that the Commitments of the Lenders are several and no
Lender shall be responsible for any other Lender’s failure to make Loans as required.

(b) Subject to Section 2.14, (i) each Revolving Borrowing denominated in US Dollars shall be
comprised entirely of (A) LIBOR Loans or (B) solely in the case of any such Borrowing by the
Company, a US Borrowing Subsidiary or a Canadian Borrowing Subsidiary, ABR Loans, (ii) each Tranche
One Revolving Borrowing denominated in Canadian Dollars shall be comprised entirely of either LIBOR
Loans or Canadian Prime Rate Loans, (iii) each Tranche Two Revolving Borrowing denominated in
Canadian Dollars shall be comprised entirely of LIBOR Loans, (iv) each Revolving Borrowing
denominated in Sterling or any Alternative Currency shall be comprised entirely of LIBOR Loans and
(v) each Revolving Borrowing denominated in Euros shall be comprised entirely of EURIBOR Loans.
Each Swingline Loan denominated in US Dollars shall be an ABR Loan, each Swingline Loan denominated
in Canadian Dollars shall be a Canadian Prime Rate Loan, each Swingline Loan denominated in
Sterling shall be a Sterling Overnight Rate Loan and each Swingline Loan denominated in Euro shall
be a Euro Overnight Rate Loan. Each Lender at its option may make any Loan, accept and purchase
any B/A or issue any Letter of Credit by causing any domestic or foreign branch or Affiliate of
such Lender to make such Loan, accept and purchase such B/A or issue such Letter of Credit;
provided that any exercise of such option shall not affect the obligation of the applicable
Borrower to repay such Loan in accordance with the terms of this Agreement.

 

29

 

(c) At the commencement of each Interest Period for any LIBOR Revolving Borrowing or EURIBOR
Revolving Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of
the Borrowing Multiple and not less than the Borrowing Minimum. At the time that each ABR
Revolving Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral
multiple of US$100,000 and not less than US$1,000,000; provided that an ABR Revolving Borrowing
under any Tranche may be in an aggregate amount that is equal to
the entire unused balance of the Commitments under such Tranche or, in the case of a Tranche
One Borrowing or Tranche Two Borrowing, that is required to finance the reimbursement of an LC
Disbursement as contemplated by Section 2.05(e). Each Swingline Loan denominated in US Dollars
shall be in an amount that is an integral multiple of US$100,000 and not less than US$500,000.
Each Swingline Loan denominated in Canadian Dollars shall be in an amount that is an integral
multiple of Cdn.$100,000 and not less than Cdn.$500,000. Each Swingline Loan denominated in
Sterling shall be in an amount that is in an integral multiple of £100,000 and not less that
£500,000. Each Swingline Loan denominated in Euro shall be in an amount that is in an integral
multiple of €100,000 and not less that €500,000. Borrowings of more than one Type may be
outstanding at the same time; provided that there shall not at any time be more than a total of 15
LIBOR Revolving Borrowings and EURIBOR Revolving Borrowings outstanding.

(d) Notwithstanding any other provision of this Agreement, no Borrower shall be entitled to
request, or to elect to convert or continue, any Borrowing if the Interest Period requested with
respect thereto would end after the Maturity Date.

SECTION 2.03. Requests for Borrowings. To request a Borrowing, the applicable
Borrower shall notify the Administrative Agent by telephone confirmed promptly by hand delivery or
telecopy to the Administrative Agent of a written Borrowing Request in the form of Exhibit
C or any other form approved by the Administrative Agent and signed by a Financial Officer of
the Company (a) in the case of a LIBOR Borrowing or a EURIBOR Borrowing, not later than 12:00 noon,
Local Time, three Business Days before the date of the proposed Borrowing and (b) in the case of an
ABR Borrowing or a Canadian Prime Rate Borrowing (in each case, other than a Swingline Loan), not
later than 12:00 noon, Local Time, on the date of the proposed Borrowing. Each such telephonic and
written Borrowing Request shall specify the following information in compliance with Section 2.02:

(i) the Borrower requesting such Borrowing;

(ii) the Tranche under which such Borrowing is to be made;

(iii) the currency and the principal amount of such Borrowing;

(iv) the date of such Borrowing, which shall be a Business Day;

(v) the Type of such Borrowing;

(vi) in the case of a LIBOR Borrowing or a EURIBOR Borrowing, the initial Interest
Period to be applicable thereto, which shall be a period contemplated by the definition of
the term “Interest Period”;

 

30

 

(vii) the Applicable Funding Account; and

(viii) in the case of a Borrowing by a Borrowing Subsidiary that is not a US
Borrowing Subsidiary, a UK Borrowing Subsidiary or a Canadian Borrowing Subsidiary, the
jurisdiction from which payments of the principal and interest on such Borrowing will be
made.

Any Borrowing Request that shall fail to specify any of the information required by the preceding
provisions of this paragraph may be rejected by the Administrative Agent if such failure is not
corrected promptly after the Administrative Agent shall give written or telephonic notice thereof
to the applicable Borrower and, if so rejected, will be of no force or effect. Promptly following
receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall
advise each Lender that will make a Loan as part of the requested Borrowing of the details thereof
and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.

SECTION 2.04. Swingline Loans. (a) Subject to the terms and conditions set forth
herein, the Swingline Lender agrees to make (i) Tranche One Swingline Loans and Tranche Two
Swingline Loans (A) to the Company, any US Borrowing Subsidiary or any Canadian Borrowing
Subsidiary denominated in US Dollars, (B) to any UK Borrowing Subsidiary denominated in Sterling or
(C) to any Borrower that is not a US Borrowing Subsidiary in Euro and (ii) Tranche One Swingline
Loans to any Canadian Borrowing Subsidiary denominated in Canadian Dollars, from time to time
during the Availability Period, in an aggregate principal amount at any time outstanding that will
not result in (i) the aggregate principal amount of the Swingline Loans denominated in US Dollars
exceeding US$50,000,000, (ii) the aggregate principal amount of the Swingline Loans denominated in
Canadian Dollars exceeding Cdn.$100,000,000, (iii) the aggregate principal amount of the Swingline
Loans denominated in Sterling exceeding £10,000,000, (iv) the aggregate principal amount of the
Swingline Loans denominated in Euro exceeding €10,000,000, (v) the aggregate Tranche One Revolving
Credit Exposures exceeding the aggregate Tranche One Commitments, (vi) the Tranche One Revolving
Credit Exposure of any Lender exceeding its Tranche One Commitment, (vii) the aggregate Tranche Two
Revolving Credit Exposures exceeding the aggregate Tranche Two Commitments or (viii) the Tranche
Two Revolving Credit Exposure of any Lender exceeding its Tranche Two Commitment; provided that the
Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding
Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth
herein, the Company and such Borrowing Subsidiaries may borrow, prepay and reborrow Swingline
Loans.

(b) To request a Swingline Loan, the applicable Borrower shall notify the Administrative
Agent and the Swingline Lender of such request by telephone (confirmed by telecopy signed by a
Financial Officer on behalf of the applicable Borrower), not later than 2:00 p.m., Local Time, on
the day of such proposed Swingline Loan. Each such notice shall be irrevocable and shall specify
the requested date (which shall be a Business Day) and amount of the requested Swingline Loan and
whether such Swingline Loan is to be a Tranche One Swingline Loan or a Tranche Two Swingline Loan.
The Swingline Lender shall make each Swingline Loan available to the applicable Borrower by means
of a credit to the Applicable Funding Account (or, in the case of a Swingline Loan made to finance
the reimbursement of an LC Disbursement as provided in Section 2.05(e), by remittance to the
Issuing Bank) by 3:00 p.m., Local Time, on the requested date of such Swingline Loan.

 

31

 

(c) The Swingline Lender may, by written notice given to the Administrative Agent not later
than 10:00 a.m., New York City time, on any Business Day, require (i) the Tranche One Lenders to
acquire participations on such Business Day in all or a portion of the Tranche One Swingline Loans
of the Swingline Lender outstanding and (ii) the Tranche Two Lenders to acquire participations on
such Business Day in all or a portion of the Tranche Two Swingline Loans of the Swingline Lender
outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which the
Tranche One Lenders or the Tranche Two Lenders, as applicable, will participate. Promptly upon
receipt of such notice, the Administrative Agent will give notice thereof to each Tranche One
Lender or Tranche Two Lender, as the case may be, specifying in such notice such Lender’s Tranche
One Percentage or Tranche Two Percentage, as applicable, of such Swingline Loan or Loans. Each
Tranche One Lender or Tranche Two Lender hereby absolutely and unconditionally agrees, upon receipt
of notice as provided above, to pay to the Administrative Agent, for the account of the Swingline
Lender, such Lender’s Tranche One
Percentage or Tranche Two Percentage, as applicable, of such Swingline Loan or Loans. Each
Tranche One Lender and Tranche Two Lender acknowledges and agrees that its obligation to acquire
participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and
shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a
Default or reduction or termination of the Tranche One Commitments or the Tranche Two Commitments
and that each such payment shall be made without any offset, abatement, withholding or reduction
whatsoever. Each Tranche One Lender and Tranche Two Lender shall comply with its obligations under
this paragraph by wire transfer of immediately available funds, in the same manner as provided in
Section 2.07 with respect to Loans made by such Lender (and Section 2.07 shall apply, mutatis
mutandis, to the payment obligations of the Tranche One Lenders and Tranche Two Lenders), and the
Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by it from
the Tranche One Lenders or the Tranche Two Lender, as applicable. The Administrative Agent shall
notify the Company of any participations in any Swingline Loan acquired pursuant to this paragraph,
and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent
and not to the Swingline Lender. Any amounts received by the Swingline Lender from or on behalf of
the applicable Borrower in respect of a Swingline Loan after receipt by such Swingline Lender of
the proceeds of a sale of participations therein shall be promptly remitted to the Administrative
Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the
Administrative Agent to the Tranche One Lenders or the Tranche Two Lenders that shall have made
their payments pursuant to this paragraph and to the Swingline Lender, as their interests may
appear; provided that any such payment so remitted shall be repaid to the Swingline Lender or to
the Administrative Agent, as the case may be, if and to the extent such payment is required to be
refunded to a Loan Party for any reason. The purchase of participations in a Swingline Loan
pursuant to this paragraph shall not relieve any Borrower of any default in the payment thereof.

 

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SECTION 2.05. Letters of Credit. (a) General. Subject to the terms and
conditions set forth herein, any Borrower may request any Issuing Bank to issue (or to amend, renew
or extend) (i) Tranche One Letters of Credit denominated in US Dollars, Sterling, Euro, any
Alternative Currency available under the Tranche One or, in the case of a Borrower that is a
Canadian Subsidiary, Canadian Dollars and (ii) Tranche Two Letters of Credit denominated in US
Dollars, Sterling, Euro or any Alternative Currency available under the Tranche Two, in each case
for its own account, in a form reasonably acceptable to the Administrative Agent and the applicable
Issuing Bank, at any time and from time to time during the Availability Period; provided that any
Issuing Bank, other than JPMCB and Wells Fargo Bank N.A., will not be required to issue Letters of
Credit denominated in any currency not set forth in such Issuing Bank’s Issuing Bank Agreement. In
the event of any inconsistency between the terms and conditions of this Agreement and the terms and
conditions of any form of letter of credit application or other agreement submitted by a Borrower
to, or entered into by a Borrower with, an Issuing Bank relating to any Letter of Credit, the terms
and conditions of this Agreement shall control. From and after the Effective Date, each Existing
Letter of Credit shall be deemed to be a Tranche One Letter of Credit or a Tranche Two Letter of
Credit (as indicated on Schedule 2.05) for all purposes hereof and shall be deemed to have been
issued hereunder on the Effective Date.

(b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To
request the issuance of a Letter of Credit (or the amendment, renewal or extension of an
outstanding Letter of Credit), a Borrower shall deliver (or transmit by electronic communication,
if arrangements for doing so have been approved by the applicable Issuing Bank) to an Issuing Bank
and the Administrative Agent, reasonably in advance of the requested date of issuance, amendment,
renewal or extension, a notice requesting the issuance of a Letter of Credit, or identifying the
Letter of Credit to be amended, renewed or extended, and specifying the date of
issuance, amendment, renewal or extension (which shall be a Business Day), the date on which
such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the
amount and currency of such Letter of Credit, the name and address of the beneficiary thereof,
whether such Letter of Credit is to be a Tranche One Letter of Credit or a Tranche Two Letter of
Credit and such other information as shall be necessary to enable the applicable Issuing Bank to
prepare, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing
Bank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard
form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued,
amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each
Letter of Credit the Company shall be deemed to represent and warrant that), after giving effect to
such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed US$150,000,000,
(ii) the amount of the LC Exposure attributable to Letters of Credit issued by the applicable
Issuing Bank will not exceed the LC Commitment of such Issuing Bank, (iii) the aggregate Tranche
One Revolving Credit Exposures shall not exceed the aggregate Tranche One Commitments, (iv) the
Tranche One Revolving Credit Exposure of each Lender will not exceed the Tranche One Commitment of
such Lender, (v) the aggregate Tranche Two Revolving Credit Exposures shall not exceed the
aggregate Tranche Two Commitments and (vi) the Tranche Two Revolving Credit Exposure of each Lender
will not exceed the Tranche Two Commitment of such Lender. If the Required Lenders notify the
Issuing Banks that a Default exists and instruct the Issuing Banks to suspend the issuance,
amendment, renewal or extension of Letters of Credit, no Issuing Bank shall issue, amend, renew or
extend any Letter of Credit without the consent of the Required Lenders until such notice is
withdrawn by the Required Lenders (and each Lender that shall have delivered such a notice agrees
promptly to withdraw it at such time as it determines that no Default exists).

(c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of
business on the earlier of (i) the date one year after the date of the issuance of such Letter of
Credit (or, in the case of any renewal or extension thereof, one year after such renewal or
extension) and (ii) the date that is five Business Days prior to the Maturity Date. A Letter of
Credit may provide for automatic renewals for additional periods of up to one year subject to a
right on the part of the applicable Issuing Bank to prevent any such renewal from occurring by
giving notice to the beneficiary during a specified period in advance of any such renewal, and the
failure of such Issuing Bank to give such notice by the end of such period shall for all purposes
hereof be deemed an extension of such Letter of Credit; provided that in no event shall any Letter
of Credit, as extended from time to time, expire after the date that is five Business Days prior to
the Maturity Date.

 

33

 

(d) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) and without any further action on the part of the
applicable Issuing Bank or the Lenders, the applicable Issuing Bank hereby grants to each Tranche
One Lender or Tranche Two Lender, as applicable, and each Tranche One Lender or Tranche Two Lender,
as applicable, hereby acquires from such Issuing Bank, a participation in such Letter of Credit
equal to such Lender’s Tranche One Percentage or Tranche Two Percentage, as applicable, from time
to time of the aggregate amount available to be drawn under such Letter of Credit. In
consideration and in furtherance of the foregoing, each Tranche One Lender or Tranche Two Lender,
as applicable, hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for
the account of such Issuing Bank, in the currency of the applicable Letter of Credit, such Lender’s
Tranche One Percentage or Tranche Two Percentage, as applicable, of each LC Disbursement made by
such Issuing Bank and not reimbursed by the applicable Borrower on the date due as provided in
paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the
applicable Borrower for any reason. Each Lender acknowledges and agrees that
its obligation to acquire participations pursuant to this paragraph in respect of Letters of
Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever,
including any amendment, renewal or extension of any Letter of Credit or the occurrence and
continuance of a Default or reduction or termination of the Tranche One Commitments or Tranche Two
Commitments, and that each such payment shall be made without any offset, abatement, withholding or
reduction whatsoever.

(e) Reimbursement. If an Issuing Bank shall make any LC Disbursement in respect of a
Letter of Credit, the applicable Borrower shall reimburse such LC Disbursement by paying to the
Administrative Agent an amount equal to such LC Disbursement, in the currency of such LC
Disbursement, not later than 2:00 p.m., New York City time, on the Business Day immediately
following the day that the Borrower receives notice of such LC Disbursement; provided that, in the
case of an LC Disbursement in US Dollars or Canadian Dollars, the Borrower may, subject to the
conditions to borrowing set forth herein, request in accordance with Section 2.03 that such payment
be financed with an ABR Borrowing or a Canadian Prime Rate Borrowing under Section 2.01 or 2.04, as
applicable, in an equivalent amount and, to the extent so financed, the Borrower’s obligation to
make such payment shall be discharged and replaced by the resulting ABR Borrowing or Canadian Prime
Rate Borrowing. If such Borrower fails to make such payment when due, the Administrative Agent
shall notify each Tranche One Lender or Tranche Two Lender, as applicable, of the applicable LC
Disbursement, the amount and currency of the payment then due from such Borrower in respect thereof
and such Lender’s Tranche One Percentage or Tranche Two Percentage thereof. Promptly following
receipt of such notice, each applicable Lender shall pay to the Administrative Agent its Tranche
One Percentage or Tranche Two Percentage, as applicable, of the payment then due from the Borrower,
in the same manner as provided in Section 2.07 with respect to Loans made by such Tranche One
Lender or Tranche Two Lender, as applicable, (and Section 2.07 shall apply, mutatis
mutandis, to the payment obligations of the applicable Lenders), and the Administrative
Agent shall promptly pay to such Issuing Bank the amounts so received by it from the Tranche One
Lenders or Tranche Two Lenders, as applicable. Promptly following receipt by the Administrative
Agent of any payment from the Borrower pursuant to this paragraph, the Administrative Agent shall
distribute such payment to such Issuing Bank or, to the extent that Tranche One Lenders or Tranche
Two Lenders have made payments pursuant to this paragraph to reimburse such Issuing Bank, then to
such Tranche One Lenders or Tranche Two Lenders and such Issuing Bank, as their interests may
appear. Any payment made by a Lender pursuant to this paragraph to reimburse such Issuing Bank for
any LC Disbursement (other than the funding of ABR Loans or Canadian Prime Rate Loans as
contemplated above) shall not constitute a Loan and shall not relieve the applicable Borrower of
its obligation to reimburse such LC Disbursement.

 

34

 

(f) Obligations Absolute. Each Borrower’s obligation to reimburse LC Disbursements
as provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and
shall be performed strictly in accordance with the terms of this Agreement under any and all
circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any
Letter of Credit or this Agreement or any term or provision therein, (ii) any draft or other
document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any
respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the
applicable Issuing Bank under a Letter of Credit against presentation of a draft or other document
that does not strictly comply with the terms of such Letter of Credit or (iv) any other event or
circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the
provisions of this Section, constitute a legal or equitable discharge of, or provide a right of
setoff against, the applicable Borrower’s obligations hereunder. None of the Administrative Agent,
the Lenders, any Issuing Bank or any of their Related Parties shall have any liability or
responsibility
by reason of or in connection with the issuance or transfer of any Letter of Credit or any
payment or failure to make any payment thereunder (irrespective of any of the circumstances
referred to in the preceding sentence), or any error, omission, interruption, loss or delay in
transmission or delivery of any draft, notice or other communication under or relating to any
Letter of Credit (including any document required to make a drawing thereunder), any error in
interpretation of technical terms or any consequence arising from causes beyond the control of such
Issuing Bank; provided that nothing in this Section shall be construed to excuse an Issuing Bank
from liability to the applicable Borrower to the extent of any direct damages (as opposed to
consequential damages, claims in respect of which are hereby waived by each Borrower to the extent
permitted by applicable law) suffered by such Borrower that are caused by such Issuing Bank’s
failure to exercise care when determining whether drafts and other documents presented under a
Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the
absence of gross negligence or willful misconduct on the part of an Issuing Bank (as finally
determined by a non-appealable judgment of a court of competent jurisdiction), such Issuing Bank
shall be deemed to have exercised care in each such determination. In furtherance of the foregoing
and without limiting the generality thereof, the parties agree that, with respect to documents
presented which appear on their face to be in substantial compliance with the terms of a Letter of
Credit, an Issuing Bank may, in its sole discretion, either accept and make payment upon such
documents without responsibility for further investigation, regardless of any notice or information
to the contrary, or refuse to accept and make payment upon such documents if such documents are not
in strict compliance with the terms of such Letter of Credit.

(g) Disbursement Procedures. The applicable Issuing Bank shall, promptly following
its receipt thereof, examine all documents purporting to represent a demand for payment under a
Letter of Credit. Such Issuing Bank shall promptly notify the Administrative Agent and the
applicable Borrower by telephone (confirmed by telecopy) of such demand for payment and whether
such Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to
give or delay in giving such notice shall not relieve the applicable Borrower of its obligation to
reimburse such Issuing Bank and the Lenders with respect to any such LC Disbursement.

(h) Interim Interest. If an Issuing Bank shall make any LC Disbursement, then,
unless the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC
Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and
including the date such LC Disbursement is made to but excluding the date that such Borrower
reimburses such LC Disbursement at (i) in the case of any LC Disbursement denominated in US
Dollars, the rate per annum then applicable to ABR Revolving Loans denominated in US Dollars and
made to the Company, (ii) in the case of any LC Disbursement denominated in Canadian Dollars, the
Canadian Prime Rate and (iii) in the case of an LC Disbursement denominated in any other currency,
a rate per annum determined by the applicable Issuing Bank (which determination will be conclusive
absent manifest error) to represent its cost of funds plus the Applicable Rate used to
determine interest applicable to LIBOR or EURIBOR Revolving Loans; provided that, if such Borrower
fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then
Section 2.13(f) shall apply. Interest accrued pursuant to this paragraph shall be for the account
of the applicable Issuing Bank, except that interest accrued on and after the date of payment by
any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for
the account of such Lender to the extent of such payment.

 

35

 

(i) Cash Collateralization. If any Event of Default shall occur and be continuing,
on the Business Day that the Company receives notice from the Administrative Agent or the Required
Lenders (or, if the maturity of the Loans has been accelerated, Lenders with LC
Exposures representing more than 50% of the aggregate amount of the LC Exposures) demanding
the deposit of cash collateral pursuant to this paragraph, each applicable Borrower shall deposit
(“Cash Collateralize”) in respect of each outstanding Letter of Credit issued for such Borrower’s
account, in an account with the Administrative Agent, in the name of the Administrative Agent and
for the benefit of the Lenders, as applicable, and the applicable Issuing Bank, an amount in cash
and in the currency of such Letter of Credit equal to the portion of the LC Exposure attributable
to such Letter of Credit as of such date plus any accrued and unpaid interest thereon; provided
that the obligation to Cash Collateralize shall become effective immediately, and such deposit
shall become immediately due and payable, without demand or other notice of any kind, upon the
occurrence of any Event of Default with respect to the Company or any Borrower described in clause
(h) or (i) of Article VII. Each such deposit shall be held by the Administrative Agent as
collateral for the payment and performance of the obligations of the Borrowers under this
Agreement. The Administrative Agent shall have exclusive dominion and control, including the
exclusive right of withdrawal, over such account. Other than any interest earned on the investment
of such deposits, which investments shall be made at the option and sole discretion of the
Administrative Agent (which will use reasonable efforts to obtain a return at market rates on any
such investments) and at the Borrowers’ risk and expense, such deposits shall not bear interest.
Interest or profits, if any, on such investments shall accumulate in such account. Monies in such
account shall be applied by the Administrative Agent to reimburse the applicable Issuing Banks for
LC Disbursements for which they have not been reimbursed and, to the extent not so applied, shall
be held for the satisfaction of the reimbursement obligations of the Borrowers for the LC Exposure
at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of
Lenders with LC Exposures representing more than 50% of the aggregate LC Exposures), be applied to
satisfy other obligations of the Borrowers under the Loan Documents. If the Borrowers are required
to provide cash collateral hereunder as a result of the occurrence of an Event of Default, such
cash collateral (to the extent not applied as aforesaid) shall be returned to the Borrowers within
three Business Days after all Events of Default have been cured or waived.

(j) Designation of Additional Issuing Banks. From time to time, the Company may by
notice to the Administrative Agent and the Lenders designate as additional Issuing Banks one or
more Lenders that agree to serve in such capacity as provided below. The acceptance by a Lender of
any appointment as an Issuing Bank hereunder shall be evidenced by an agreement (an “Issuing Bank
Agreement”), which shall be in a form satisfactory to the Company and the Administrative Agent,
shall set forth the Letter of Credit Commitment of such Lender and shall be executed by such
Lender, the Company and the Administrative Agent and, from and after the effective date of such
agreement, (i) such Lender shall have all the rights and obligations of an Issuing Bank under this
Agreement and the other Loan Documents and (ii) references herein and in the other Loan Documents
to the term “Issuing Bank” shall be deemed to include such Lender in its capacity as an Issuing
Bank. The Issuing Bank Agreement of any Issuing Bank may limit the currencies in which and the
Borrowers for the accounts of which such Issuing Bank will issue Letters of Credit, and any such
limitations will, as to such Issuing Bank, be deemed to be incorporated in this Agreement.

 

36

 

(k) Replacement of an Issuing Bank. An Issuing Bank may be replaced at any time by
written agreement among the Company, the Administrative Agent, the replaced Issuing Bank and the
successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement
of an Issuing Bank. At the time any such replacement shall become effective, the Company shall pay
all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12(b).
From and after the effective date of any such replacement, the successor Issuing Bank shall have
all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of
Credit to be issued thereafter and references herein to the
term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing
Bank, as the context shall require. After the replacement of an Issuing Bank hereunder, the
replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and
obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it
prior to such replacement, but shall not be required to issue additional Letters of Credit.

(l) Issuing Bank Reports. Unless otherwise agreed by the Administrative Agent, each
Issuing Bank shall report in writing to the Administrative Agent (i) on or prior to each Business
Day on which such Issuing Bank issues, amends, renews or extends any Letter of Credit, the date of
such issuance, amendment, renewal or extension, and the currencies and face amounts of the Letters
of Credit issued, amended, renewed or extended by it and outstanding after giving effect to such
issuance, amendment, renewal or extension (and whether the amounts thereof shall have changed), it
being understood that such Issuing Bank shall not effect any issuance, renewal, extension or
amendment resulting in an increase in the aggregate amount of the Letters of Credit issued by it
without first obtaining written confirmation from the Administrative Agent that such increase is
then permitted under this Agreement, (ii) on each Business Day on which such Issuing Bank makes any
LC Disbursement, the date, currency and amount of such LC Disbursement, (iii) on any Business Day
on which the applicable Borrower fails to reimburse an LC Disbursement required to be reimbursed to
such Issuing Bank on such day, the date of such failure and the currency and amount of such LC
Disbursement and (iv) on any other Business Day, such other information as the Administrative Agent
shall reasonably request as to the Letters of Credit issued by such Issuing Bank.

SECTION 2.06. Canadian Bankers’ Acceptances. (a) Each acceptance and purchase of
B/As of a single Contract Period pursuant to Section 2.01(a) and this Section shall be made ratably
by the Tranche One Lenders in accordance with the amounts of their Tranche One Commitments. The
failure of any Lender to accept any B/A required to be accepted by it shall not relieve any other
Lender of its obligations hereunder; provided that the Commitments are several and no Lender shall
be responsible for any other Lender’s failure to accept B/As as required. Each Lender at its
option may accept and purchase any B/A by causing any Canadian lending office or Affiliate of such
Lender to accept and purchase such B/A.

(b) The B/As of a single Contract Period accepted and purchased on any date shall be in an
aggregate amount that is an integral multiple of Cdn.$1,000,000 and not less than Cdn.$5,000,000.
If any Lender’s ratable share of the B/As of any Contract Period to be accepted on any date would
not be an integral multiple of Cdn.$100,000, the face amount of the B/As accepted by such Lender
may be increased or reduced to the nearest integral multiple of Cdn.$100,000 by the Administrative
Agent, acting through its Toronto branch, in its sole discretion. B/As of more than one Contract
Period may be outstanding at the same time; provided that there shall not at any time be more than
a total of ten B/A Drawings outstanding at any time.

 

37

 

(c) To request an acceptance and purchase of B/As, a Canadian Borrowing Subsidiary shall
notify the Administrative Agent of such request by telephone or by telecopy not later than 12:00
noon, Local Time, two Business Days before the date of such acceptance and purchase. Each such
request shall be irrevocable and, if telephonic, shall be confirmed promptly by hand delivery or
telecopy to the Administrative Agent, acting through its Toronto branch, of a written request in a
form approved by the Administrative Agent and signed by such Canadian Borrowing Subsidiary. Each
such telephonic and written request shall specify the following information:

(i) the aggregate face amount of the B/As to be accepted and purchased;

(ii) the date of such acceptance and purchase, which shall be a Business Day;

(iii) the Contract Period to be applicable thereto, which shall be a period
contemplated by the definition of the term “Contract Period” (and which shall in no event
end after the Maturity Date); and

(iv) the location and number of the Canadian Borrowing Subsidiary’s account to which
the proceeds of such B/As are to be disbursed.

Any request for an acceptance and purchase of B/As that shall fail to specify any of the
information required by the preceding provisions of this paragraph may be rejected by the
Administrative Agent if such failure is not corrected promptly after the Administrative Agent shall
give written or telephonic notice thereof to the applicable Borrower and, if so rejected, will be
of no force or effect. Promptly following receipt of a request in accordance with this paragraph,
the Administrative Agent shall advise each Tranche One Lender of the details thereof and of the
amount of B/As to be accepted and purchased by such Lender.

(d) Each Canadian Borrowing Subsidiary hereby appoints each Tranche One Lender as its
attorney to sign and endorse on its behalf, manually or by facsimile or mechanical signature, as
and when deemed necessary by such Lender, blank forms of B/As, each Tranche One Lender hereby
agreeing that it will not sign or endorse B/As in excess of those required in connection with B/A
Drawings that have been requested by the Canadian Borrowing Subsidiaries hereunder. It shall be
the responsibility of each Tranche One Lender to maintain an adequate supply of blank forms of B/As
for acceptance under this Agreement. Each Canadian Borrowing Subsidiary recognizes and agrees that
all B/As signed and/or endorsed on its behalf by any Tranche One Lender in accordance with such
Canadian Borrowing Subsidiary’s written request shall bind such Canadian Borrowing Subsidiary as
fully and effectually as if manually signed and duly issued by authorized officers of such Canadian
Borrowing Subsidiary. Each Tranche One Lender is hereby authorized to issue such B/As endorsed in
blank in such face amounts as may be determined by such Lender; provided that the aggregate face
amount thereof is equal to the aggregate face amount of B/As required to be accepted by such Lender
in accordance with such Canadian Borrowing Subsidiary’s written request. No Tranche One Lender
shall be liable for any damage, loss or claim arising by reason of any loss or improper use of any
such instrument unless such loss or improper use results from the bad faith, gross negligence or
willful misconduct of such Lender. Each Tranche One Lender shall maintain a record with respect to
B/As (i) received by it from the Administrative Agent in blank hereunder, (ii) voided by it for any
reason, (iii) accepted and purchased by it hereunder and (iv) canceled at their respective
maturities. Each Tranche One Lender further agrees to retain such records in the manner and for
the periods provided in applicable provincial or federal statutes and regulations of Canada and to
provide such records to each Canadian Borrowing Subsidiary upon its request and at its expense.
Upon request by any Canadian Borrowing Subsidiary, a Lender shall cancel all forms of B/A that have
been pre-signed or pre-endorsed on behalf of such Canadian Borrowing Subsidiary and that are held
by such Lender and are not required to be issued pursuant to this Agreement.

 

38

 

(e) Drafts of each Canadian Borrowing Subsidiary to be accepted as B/As hereunder shall be
signed as set forth in paragraph (d) above. Notwithstanding that any Person whose signature
appears on any B/A may no longer be an authorized signatory for any of the Lenders or such Canadian
Borrowing Subsidiary at the date of issuance of such B/A, such signature shall nevertheless be
valid and sufficient for all purposes as if such authority had remained in force at the time of
such issuance and any such B/A so signed and properly completed shall be binding on such Canadian
Borrowing Subsidiary.

(f) Upon acceptance of a B/A by a Tranche One Lender, such Lender shall purchase such B/A
from the applicable Canadian Borrowing Subsidiary at the Discount Rate for such Lender applicable
to such B/A accepted by it and provide to the Administrative Agent the Discount Proceeds for the
account of such Canadian Borrowing Subsidiary as provided in Section 2.07. The acceptance fee
payable by the applicable Canadian Borrowing Subsidiary to a Lender under Section 2.12 in respect
of each B/A accepted by such Lender shall be set off against the Discount Proceeds payable by such
Lender under this paragraph. Notwithstanding the foregoing, in the case of any B/A Drawing
resulting from the conversion or continuation of a B/A Drawing or Revolving Borrowing pursuant to
Section 2.08, the net amount that would otherwise be payable to such Borrower by each Lender
pursuant to this paragraph will be applied as provided in Section 2.08(f).

(g) Each Tranche One Lender may at any time and from time to time hold, sell, rediscount or
otherwise dispose of any or all B/As accepted and purchased by it (it being understood that no such
sale, rediscount or disposition shall constitute an assignment or participation of any Commitment
hereunder).

(h) Each B/A accepted and purchased hereunder shall mature at the end of the Contract Period
applicable thereto.

(i) Subject to applicable law, each Canadian Borrowing Subsidiary waives presentment for
payment and any other defense to payment of any amounts due to a Tranche One Lender in respect of a
B/A accepted and purchased by it pursuant to this Agreement that might exist solely by reason of
such B/A being held, at the maturity thereof, by such Lender in its own right, and each Canadian
Borrowing Subsidiary agrees not to claim any days of grace if such Lender as holder sues such
Canadian Borrowing Subsidiary on the B/A for payment of the amounts payable by such Canadian
Borrowing Subsidiary thereunder. On the last day of the Contract Period of a B/A, or such earlier
date as may be required pursuant to the provisions of this Agreement, the applicable Canadian
Borrowing Subsidiary shall pay the Lender that has accepted and purchased such B/A the full face
amount of such B/A, and after such payment such Canadian Borrowing Subsidiary shall have no further
liability in respect of such B/A and such Lender shall be entitled to all benefits of, and be
responsible for all payments due to third parties under, such B/A.

(j) At the option of each Canadian Borrowing Subsidiary and any Lender, B/As under this
Agreement to be accepted by that Lender may be issued in the form of depository bills for deposit
with The Canadian Depository for Securities Limited pursuant to the Depository Bills and Notes Act
(Canada). All depository bills so issued shall be governed by the provisions of this Section.

 

39

 

(k) If a Tranche One Lender is not a chartered bank under the Bank Act (Canada) or if a
Tranche One Lender notifies the Administrative Agent in writing that it is otherwise unable to
accept B/As, such Lender will, instead of accepting and purchasing any B/As, make a Loan (a “B/A
Equivalent Loan”) to the applicable Canadian Borrowing Subsidiary in the amount and for the same
term as each draft which such Lender would otherwise have been required to accept and purchase
hereunder. Each such Lender will provide to the Administrative Agent the Discount Proceeds of such
B/A Equivalent Loan for the account of the applicable Canadian Borrowing Subsidiary in the same
manner as such Lender would have provided the Discount Proceeds in respect of the draft which such
Lender would otherwise have been required to accept and purchase hereunder. Each such B/A
Equivalent Loan will bear interest at the same rate that would result if such Lender had accepted
(and been paid an acceptance fee) and purchased (on a discounted basis)
a B/A for the relevant Contract Period (it being the intention of the parties that each such
B/A Equivalent Loan shall have the same economic consequences for the Lenders and the applicable
Canadian Borrowing Subsidiary as the B/A that such B/A Equivalent Loan replaces). All such
interest shall be paid in advance on the date such B/A Equivalent Loan is made, and will be
deducted from the principal amount of such B/A Equivalent Loan in the same manner in which the
Discount Proceeds of a B/A would be deducted from the face amount of the B/A. Subject to the
repayment requirements of this Agreement, on the last day of the relevant Contract Period for such
B/A Equivalent Loan, the applicable Canadian Borrowing Subsidiary shall be entitled to convert each
such B/A Equivalent Loan into another type of Loan, or to roll over each such B/A Equivalent Loan
into another B/A Equivalent Loan, all in accordance with the applicable provisions of this
Agreement.

(l) Notwithstanding any provision hereof but subject to Section 2.11(b), the Borrowers may
not prepay any B/A Drawing other than on the last day of its Contract Period.

(m) For greater certainty, all provisions of this Agreement that are applicable to B/As shall
also be applicable, mutatis mutandis, to B/A Equivalent Loans.

SECTION 2.07. Funding of Borrowings and B/A Drawings. (a) Each Lender shall make
each Loan to be made by it hereunder and disburse the Discount Proceeds (net of applicable
acceptance fees) of each B/A to be accepted and purchased by it hereunder on the proposed date
thereof by wire transfer of immediately available funds in the applicable currency by 2:00 p.m.,
Local Time, to the account of the Administrative Agent most recently designated by the
Administrative Agent for such purpose by notice to the Lenders; provided that Swingline Loans shall
be made as provided in Section 2.04. The Administrative Agent will make such Loan proceeds or
Discount Proceeds available to the applicable Borrower by promptly crediting the amounts so
received, in like funds, to the Applicable Funding Account of such Borrower; provided that ABR
Revolving Loans or Swingline Loans made to finance the reimbursement of an LC Disbursement as
provided in Section 2.05(e) shall be remitted by the Administrative Agent to the applicable Issuing
Bank.

(b) Unless the Administrative Agent shall have received notice from a Lender prior to the
proposed date of any Borrowing or acceptance and purchase of B/As that such Lender will not make
available to the Administrative Agent such Lender’s share of such Borrowing or the applicable
Discount Proceeds (net of applicable acceptance fees), the Administrative Agent may assume that
such Lender has made such share available on such date in accordance with paragraph (a) of this
Section and may, in reliance upon such assumption, make available to the applicable Borrower a
corresponding amount. In such event, if a Lender has not in fact made its share of the applicable
Borrowing or the applicable Discount Proceeds (net of applicable acceptance fees) available to the
Administrative Agent, then the applicable Lender and such Borrower severally agree to pay to the
Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each
day from and including the date such amount is made available to such Borrower to but excluding the
date of payment to the Administrative Agent, at (i) in the case of such Lender, the rate reasonably
determined by the Administrative Agent to be the cost to it of funding such amount or (ii) in the
case of such Borrower, the interest rate applicable to the subject Loan or the applicable Discount
Rate and pro-rated acceptance fee, as the case may be.

 

40

 

SECTION 2.08. Interest Elections. (a) Each Revolving Borrowing initially shall be
of the permitted Type specified in the applicable Borrowing Request and, in the case of a LIBOR
Borrowing or a EURIBOR Borrowing, shall have an initial Interest Period as specified in such
Borrowing Request. Each B/A Drawing shall have a Contract Period as specified in the
applicable request therefor. Thereafter, the applicable Borrower may elect to convert such
Borrowing or B/A Drawing to a Borrowing of a different Type or, in the case of a Borrowing in
Canadian Dollars, a B/A Drawing, or to continue such Borrowing or B/A Drawing and, in the case of a
LIBOR Borrowing or a EURIBOR Borrowing, may elect Interest Periods therefor, all as provided in
this Section and on terms consistent with the other provisions of this Agreement, it being
understood that no B/A Drawing may be converted or continued other than at the end of the Contract
Period applicable thereto. A Borrower may elect different options with respect to different
portions of an affected Borrowing or B/A Drawing, in which case each such portion shall be
allocated ratably among the Lenders holding the Loans comprising such Borrowing or accepting the
B/As comprising such B/A Drawing, as the case may be, and the Loans or B/As resulting from an
election made with respect to any such portion shall be considered a separate Borrowing or B/A
Drawing. This Section shall not apply to Swingline Borrowings, which may not be converted or
continued.

(b) To make an election pursuant to this Section, a Borrower shall notify the Administrative
Agent of such election by telephone (i) in the case of an election that would result in a
Borrowing, by the time and date that a Borrowing Request would be required under Section 2.03 if
such Borrower were requesting a Revolving Borrowing of the Type resulting from such election to be
made on the effective date of such election and (ii) in the case of an election that would result
in a B/A Drawing or the continuation of a B/A Drawing, by the time and date that a request would be
required under Section 2.06 if such Borrower were requesting an acceptance and purchase of B/As to
be made on the effective date of such election (each such notice being called an “Interest Election
Request”). Each such Interest Election Request shall be irrevocable and shall be confirmed
promptly by delivery to the Administrative Agent of a written Interest Election Request in a form
approved by the Administrative Agent and signed by a Financial Officer on behalf of the applicable
Borrower. Notwithstanding any other provision of this Section, a Borrower shall not be permitted
to (i) change the currency of any Borrowing or B/A Drawing, (ii) elect an Interest Period for LIBOR
Loans or EURIBOR Loans that does not comply with Section 2.02(d) or any Contract Period for a B/A
Drawing that does not comply with Section 2.06 or (iii) convert any Borrowing or B/A Drawing to a
Borrowing or B/A Drawing not available to such Borrower under the Class of Commitments pursuant to
which such Borrowing or B/A Drawing was made.

(c) Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02:

(i) the Borrowing or B/A Drawing to which such Interest Election Request applies and,
if different options are being elected with respect to different portions thereof, the
portions thereof to be allocated to each resulting Borrowing or B/A Drawing (in which case
the information to be specified pursuant to clauses (iii) and (iv) below shall be specified
for each resulting Borrowing or B/A Drawing);

 

41

 

(ii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day;

(iii) in the case of an election resulting in a Borrowing, the Currency and Type of
the resulting Borrowing; and

(iv) in the case of an election resulting in a Borrowing, if the resulting Borrowing
is to be a LIBOR Borrowing or a EURIBOR Borrowing, the Interest Period to be applicable
thereto after giving effect to such election, which shall be a period contemplated by the
definition of the term “Interest Period”, and in the case of an election
resulting in a B/A Drawing, the Contract Period to be applicable thereto, which shall
be a period contemplated by the definition of the term “Contract Period”.

If any such Interest Election Request requests a LIBOR or EURIBOR Borrowing or a B/A Drawing but
does not specify an Interest Period or Contract Period, then the Borrower shall be deemed to have
selected an Interest Period of one month’s duration or a Contract Period of 30 days’ duration.

(d) Promptly following receipt of an Interest Election Request, the Administrative Agent
shall advise each affected Lender of the details thereof and of such Lender’s portion of each
resulting Borrowing or B/A Drawing.

(e) If the applicable Borrower fails to deliver a timely Interest Election Request with
respect to a LIBOR Borrowing, EURIBOR Borrowing or B/A Drawing prior to the end of the Interest
Period or Contract Period applicable thereto, then, unless such Borrowing or B/A Drawing is repaid
as provided herein, at the end of such Interest Period or Contract Period, (i) in the case of a
LIBOR Borrowing made to the Company, a US Borrowing Subsidiary or a Canadian Borrowing Subsidiary
and denominated in US Dollars, such Borrowing shall be converted to an ABR Borrowing, (ii) in the
case of a Borrowing or B/A Drawing denominated in Canadian Dollars, such Borrowing or B/A Drawing
shall be converted to a Canadian Prime Rate Borrowing and (iii) in the case of any other LIBOR
Borrowing or a EURIBOR Borrowing, such Borrowing shall become due and payable on the last day of
such Interest Period.

(f) Upon the conversion of any Borrowing (or portion thereof), or the continuation of any B/A
Drawing (or portion thereof), to or as a B/A Drawing, the net amount that would otherwise be
payable to a Borrower by each Lender pursuant to Section 2.06(f) in respect of such new B/A Drawing
shall be applied against the principal of such Borrowing (in the case of a conversion) or the
reimbursement obligation owed to such Lender under Section 2.06(i) in respect of the B/As accepted
by such Lender as part of such maturing B/A Drawing (in the case of a continuation), and such
Borrower shall pay to such Lender an amount equal to the difference between the principal amount of
such Loan or the aggregate face amount of such maturing B/As, as the case may be, and such net
amount.

(g) Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is
continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the
Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing
denominated in US Dollars to the Company, a US Subsidiary or a Canadian Subsidiary may be converted
to or continued as a LIBOR Borrowing and (ii) unless repaid, each LIBOR Borrowing denominated in US
Dollars to the Company, a US Subsidiary or a Canadian Subsidiary shall be converted to an ABR
Borrowing at the end of the Interest Period applicable thereto.

 

42

 

SECTION 2.09. Termination, Reduction, Increase and Redesignation of Commitments. (a) Unless previously terminated, the Commitments shall terminate on
the Maturity Date.

(b) The Company may at any time terminate, or from time to time reduce, the Commitments
(ratably as between the Tranches); provided that (i) each reduction of the Commitments shall be in
an amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing
Minimum, in each case for Borrowings denominated in US Dollars and (ii) the Company shall not
terminate or reduce the Commitments if, after giving effect to such termination or reduction and to
any concurrent payment or prepayment of Loans, B/As or LC
Disbursements, the aggregate amount of Revolving Credit Exposures under either Tranche would
exceed the aggregate amount of Commitments of such Tranche.

(c) The Company shall notify the Administrative Agent of any election to terminate or reduce
the Commitments of any Tranche under paragraph (b) of this Section at least two Business Days prior
to the effective date of such termination or reduction, specifying such election and the effective
date thereof. Promptly following receipt of any such notice, the Administrative Agent shall advise
the applicable Lenders of the contents thereof. Each notice delivered by the Company pursuant to
this Section shall be irrevocable; provided that a notice of termination of the Commitments of any
Tranche may state that such notice is conditioned upon the effectiveness of other credit
facilities, in which case such notice may be revoked or extended by the Company (by notice to the
Administrative Agent on or prior to the specified effective date) if such condition is not
satisfied or the effectiveness of such other credit facilities is delayed. Any termination or
reduction of the Commitments of any Tranche shall be permanent. Each reduction of the Commitments
of any Tranche shall be made ratably among the applicable Lenders in accordance with their
Commitments of such Tranche.

(d) The Company may at any time and from time to time, by written notice to the
Administrative Agent (which shall promptly deliver a copy to the applicable Lenders) executed by
the Company and one or more financial institutions (any such financial institution referred to in
this Section being called an “Increasing Lender”), which may include any Lender, cause new Tranche
One Commitments or Tranche Two Commitments to be extended by the Increasing Lenders (or cause the
existing Tranche One Commitments or Tranche Two Commitments of the Increasing Lenders to be
increased, as the case may be) in an amount for each Increasing Lender (which shall not be less
than $5,000,000) set forth in such notice; provided that (i) the new Commitments and increases in
existing Commitments pursuant to this paragraph shall not be greater than US$250,000,000 in the
aggregate during the term of this Agreement and shall not be less than US$25,000,000 (or any
portion of such US$250,000,000 aggregate amount remaining unused) for any such increase, (ii) each
Increasing Lender, if not already a Lender hereunder, shall be subject to the approval of the
Administrative Agent (which approval shall not be unreasonably withheld) and (iii) each Increasing
Lender, if not already a Lender hereunder, shall become a party to this Agreement by completing and
delivering to the Administrative Agent a duly executed accession agreement in a form satisfactory
to the Administrative Agent and the Company (an “Accession Agreement”). New Commitments and
increases in Commitments shall become effective on the date specified in the applicable notices
delivered pursuant to this paragraph. Upon the effectiveness of any Accession Agreement to which
any Increasing Lender is a party, (i) such Increasing Lender shall thereafter be deemed to be a
party to this Agreement and shall be entitled to all rights, benefits and privileges accorded a
Lender hereunder and subject to all obligations of a Lender hereunder and (ii) Schedule 2.01 shall
be deemed to have been amended to reflect the Commitment or Commitments of such Increasing Lender
as provided in such Accession Agreement. Notwithstanding the foregoing, no increase in the
Commitments (or in the Commitment of any Lender) pursuant to this paragraph shall become effective
unless (i) the Administrative Agent shall have received documents consistent with those delivered
under Section 4.01(b) and (c), giving effect to such increase and (ii) on the effective date of
such increase, the conditions set forth in Sections 4.02(a) and (b) shall be satisfied (with all
references in such paragraphs to a Borrowing being deemed to be references to such increase) and
the Administrative Agent shall have received a certificate to that effect dated such date and
executed by a Financial Officer of the Company.

 

43

 

(e) On the effective date (the “Increase Effective Date”) of any increase in the Commitments
of any Tranche pursuant to paragraph (d) above (a “Commitment Increase”), (i) the
aggregate principal amount of the Revolving Borrowings of such Tranche outstanding (the
"Initial Borrowings”) immediately prior to the Commitment Increase on the Increase Effective Date
shall be deemed to be paid, (ii) each Increasing Lender that shall have had a Commitment under such
Tranche prior to the Commitment Increase shall pay to the Administrative Agent in same day funds
(in the applicable currencies), an amount equal to the difference between (A) the product of (1)
such Lender’s applicable Tranche Percentage (calculated after giving effect to the Commitment
Increase) multiplied by (2) the amount of each Subsequent Borrowing (as hereinafter defined) and
(B) the product of (1) such Lender’s applicable Tranche Percentage (calculated without giving
effect to the Commitment Increase) multiplied by (2) the amount of each Initial Borrowing, (iii)
each Increasing Lender that shall not have had a Commitment under such Tranche prior to the
Commitment Increase shall pay to Administrative Agent in same day funds (in the applicable
currencies) an amount equal to the product of (1) such Increasing Lender’s applicable Tranche
Percentage (calculated after giving effect to the Commitment Increase) multiplied by (2) the amount
of each Subsequent Borrowing, (iv) after the Administrative Agent receives the funds specified in
clauses (ii) and (iii) above, the Administrative Agent shall pay to each Lender (in the applicable
currencies) the portion of such funds that is equal to the difference between (A) the product of
(1) such Lender’s applicable Tranche Percentage (calculated without giving effect to the Commitment
Increase) multiplied by (2) the amount of each Initial Borrowing and (B) the product of (1) such
Lender’s applicable Tranche Percentage (calculated after giving effect to the Commitment Increase)
multiplied by (2) the amount of each Subsequent Borrowing, (v) after the effectiveness of the
Commitment Increase, the applicable Borrower shall be deemed to have made new Borrowings (the
"Subsequent Borrowings”) in amounts (in the currencies of the Initial Borrowings) equal to the
amounts of the Initial Borrowings and of the Types and for the Interest Periods specified in a
Borrowing Request delivered to the Administrative Agent in accordance with Section 2.03, (vi) each
Lender shall be deemed to hold its applicable Tranche Percentage of each Subsequent Borrowing
(calculated after giving effect to the Commitment Increase) and (vii) the Borrower shall pay each
Lender any and all accrued but unpaid interest on its Loans comprising the Initial Borrowings. The
deemed payments made pursuant to clause (i) above shall be subject to compensation by the
applicable Borrower pursuant to the provisions of Section 2.16 if the Increase Effective Date
occurs other than on the last day of the Interest Period relating thereto. On the Increase
Effective Date of any increase in the Tranche One Commitments pursuant to paragraph (d) above, the
applicable Borrowers and Lenders shall take such actions (including making and receiving payments),
if any, as the Administrative Agent shall specify in order that the extensions of credit
represented by any outstanding B/As may be held by the Tranche One Lenders ratably in proportion to
their Tranche One Commitments; provided that if the Administrative Agent does not specify any such
actions, such outstanding B/As will continue outstanding for the duration of the applicable
Contract Periods and the applicable Borrowers’ reimbursement obligations under Section 2.06(i) will
continue to be owed to the Lenders that accepted and purchased such B/As.

 

44

 

(f) Any Tranche Two Lender may at any time and from time to time, upon five Business Days’
written notice to the Administrative Agent (which shall promptly deliver a copy to each other
Lender) and the Company, and with the consent of the Company, cause the entire amount of such
Lender’s Tranche Two Commitment to be redesignated as a Tranche One Commitment; provided that (i)
at the time of any such redesignation, to the extent there are any outstanding Loans, the parties
hereto shall implement arrangements satisfactory to the Company and the Administrative Agent to
ensure that the Lenders of each Tranche will, after giving effect to such redesignation (or by such
later time as the Administrative Agent may agree) hold the Loans comprising each Borrowing under
such Tranche ratably in accordance with their respective Commitments and (ii) such redesignation
will not result in the aggregate Tranche One Revolving
Credit Exposures exceeding the aggregate Tranche One Commitments or the aggregate Tranche Two
Revolving Credit Exposures exceeding the aggregate Tranche Two Commitments.

SECTION 2.10. Repayment of Loans and B/As; Evidence of Debt. (a) Each Borrower hereby unconditionally promises to pay (i) to the
Administrative Agent for the account of each applicable Lender the then unpaid principal amount of
each Revolving Loan of such Borrower on the Maturity Date and the face amount of each B/A, if any,
accepted by such Lender as provided in Section 2.06 and (ii) to the Swingline Lender the then
unpaid principal amount of each Swingline Loan on the earlier of the Maturity Date and the first
date after such Swingline Loan is made that is the 15th or last day of a calendar month and is at
least three Business Days after such Swingline Loan is made; provided that on each date that a
Revolving Borrowing denominated in US Dollars or Canadian Dollars (including any ABR Borrowing),
Sterling or Euro is made to a Borrower that shall have borrowed Swingline Loans, such Borrower
shall repay all its outstanding Swingline Loans denominated in such currency. Each Borrower will
pay the principal amount of each Loan or B/A made to or drawn by such Borrower and the accrued
interest on such Loan in the currency of such Loan or B/A.

(b) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the Indebtedness of each Borrower to such Lender resulting from each Loan made or B/A
accepted and purchased by such Lender, including the amounts of principal and interest payable and
paid to such Lender from time to time hereunder.

(c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount
of each Loan made and B/A accepted and purchased hereunder, the Class and Type of each such Loan
and, in the case of any LIBOR or EURIBOR Loan, the Interest Period applicable thereto, (ii) the
amount of any principal or interest due and payable or to become due and payable from each Borrower
to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent
hereunder for the account of the Lenders or any of them and each Lender’s share thereof.

(d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this
Section shall be prima facie evidence of the existence and amounts of the Obligations recorded
therein; provided that the failure of any Lender or the Administrative Agent to maintain such
accounts or any error therein shall not in any manner affect the obligation of any Borrower to
repay the Loans in accordance with the terms of this Agreement.

(e) Any Lender may request that Loans of any Class made by it to any Borrower be evidenced by
a promissory note. In such event, the applicable Borrower shall prepare, execute and deliver to
such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such
Lender and its registered assigns) and in a form reasonably acceptable to the Administrative Agent.
Thereafter, the Revolving Loans evidenced by such promissory note and interest thereon shall at
all times (including after assignment pursuant to Section 11.04) be represented by one or more
promissory notes in such form payable to the payee named therein (or, if such promissory note is a
registered note, to such payee and its registered assigns).

 

45

 

SECTION 2.11. Prepayment of Loans. (a) Any Borrower shall have the right at any
time and from time to time to prepay any Borrowing of such Borrower, in whole or in part, subject
to prior notice in accordance with paragraph (d) of this Section.

(b) If the aggregate Revolving Credit Exposures under any Tranche shall exceed the aggregate
Commitments under such Tranche, then (i) on the last day of any Interest Period for any LIBOR
Borrowing or EURIBOR Borrowing, and the last day of any Contract Period for any
B/A Drawing under such Tranche and (ii) on each other date on which any ABR Revolving
Borrowing or Swingline Loan shall be outstanding under such Tranche, the applicable Borrowers shall
prepay Loans under such Tranche in an aggregate amount equal to the lesser of (A) the amount
necessary to eliminate such excess (after giving effect to any other prepayment of Loans or payment
of B/As on such day) and (B) the amount of the applicable Revolving Borrowings, B/A Drawings or
Swingline Loans referred to in clause (i) or (ii), as applicable. If the aggregate amount of the
Revolving Credit Exposures under any Tranche on the last day of any month (or on any other date
specified by Lenders representing more than 50% of the Commitments under such Tranche) shall exceed
105% of the aggregate Commitments under such Tranche, then the applicable Borrowers shall, not
later than the next Business Day, prepay one or more Borrowings under such Tranche in an aggregate
principal amount sufficient to eliminate such excess.

(c) Prior to any optional or mandatory prepayment of Borrowings hereunder, the applicable
Borrower shall select the Borrowing or Borrowings to be prepaid and shall specify such selection in
the notice of such prepayment pursuant to paragraph (d) of this Section.

(d) The applicable Borrower shall notify the Administrative Agent (and, in the case of
prepayment of a Swingline Loan, the Swingline Lender) by a telecopy notice signed by a Financial
Officer on behalf of the applicable Borrower of any prepayment of a Borrowing hereunder (i) in the
case of a LIBOR Borrowing denominated in US Dollars, not later than 12:00 noon, Local Time, three
Business Days before the date of such prepayment (or, in the case of a prepayment under paragraph
(b) above, as soon thereafter as practicable), (ii) in the case of a LIBOR Borrowing denominated in
Canadian Dollars, Sterling or an Alternative Currency or a EURIBOR Borrowing, not later than 12:00
noon, Local Time, three Business days before the date of such prepayment (or, in the case of a
prepayment under paragraph (b) above, as soon thereafter as practicable), (iii) in the case of an
ABR Borrowing, not later than 12:00 noon, Local Time, the date of such prepayment and (d) in the
case of a Canadian Prime Rate Borrowing, not later than 12:00 noon, Local Time, the date of such
prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the
principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of
optional prepayment is given in connection with a conditional notice of termination of the
Commitments as contemplated by Section 2.09(c), then such notice of prepayment may be revoked or
extended if such notice of termination is revoked or extended in accordance with Section 2.09(c).
Promptly following receipt of any such notice, the Administrative Agent shall advise the applicable
Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount
that would be permitted in the case of an advance of a Borrowing of the same Type as provided in
Section 2.02. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the
prepaid Borrowing.

 

46

 

SECTION 2.12. Fees. (a) The Company agrees to pay to the Administrative Agent, in
US Dollars, for the account of each Lender, a facility fee, which shall accrue at the Applicable
Rate on the daily amount of each Commitment of such Lender, whether used or unused, during the
period from and including the Closing Date to but excluding the date on which such Commitment
terminates; provided that, if any Lender continues to have any Revolving Credit Exposure under any
Tranche after its Commitment of such Tranche terminates, then such facility fee shall continue to
accrue on the daily amount of such Lender’s Revolving Credit Exposure under such Tranche from and
including the date on which such Commitment terminates to but excluding the date on which such
Lender ceases to have any Revolving Credit Exposure under such Tranche. Accrued facility fees
shall be payable in arrears on the first day of January, April, July and October of each year,
commencing on the first such date to occur after the date hereof and, with respect to the
Commitments of any Tranche, on the date on which the Commitments of such Tranche shall terminate;
provided that any facility fees accruing on the Revolving Credit
Exposure under any Tranche after the date on which the Commitments of such Tranche terminate
shall be payable on demand. All facility fees shall be computed on the basis of a year of 360 days
and shall be payable for the actual number of days elapsed (including the first day but excluding
the last day).

(b) The Company agrees to pay (i) to the Administrative Agent, in US Dollars for the account
of each Tranche One Lender or each Tranche Two Lender, as applicable, a participation fee with
respect to its participations in Letters of Credit, which shall accrue at the Applicable Rate used
to determine the interest rate applicable to LIBOR Revolving Loans, on the daily amount of such
Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements)
during the period from and including the Effective Date to but excluding the later of the date on
which such Lender’s Commitment terminates and the date on which such Lender ceases to have any LC
Exposure and (ii) to each Issuing Bank a fronting fee, which shall accrue at a rate per annum
separately agreed upon between the Company and the applicable Issuing Bank on the portion of the
daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC
Disbursements) attributable to Letters of Credit issued by such Issuing Bank during the period from
and including the Effective Date to but excluding the later of the date of termination of the
Commitments and the date on which there ceases to be any LC Exposure, as well as each Issuing
Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of
Credit or processing of drawings thereunder. Participation fees and fronting fees accrued or
becoming payable in respect of Letters of Credit through and including the last day of March, June,
September and December of each year shall be payable on the third Business Day following such last
day, commencing on the first such date to occur after the Effective Date; provided that all such
fees shall be payable on the date on which the Commitments terminate and any such fees accruing
after the date on which the Commitments terminate shall be payable on demand. Any other fees
payable to the Issuing Banks pursuant to this paragraph shall be payable within 10 days after
demand. All participation fees and fronting fees shall be computed on the basis of a year of 360
days and shall be payable for the actual number of days elapsed (including the first day but
excluding the last day).

(c) Each Canadian Borrowing Subsidiary agrees to pay to the Administrative Agent, for the
account of each Tranche One Lender, on each date on which B/As drawn by such Canadian Borrowing
Subsidiary are accepted and purchased hereunder, in Canadian Dollars, an acceptance fee computed by
multiplying the aggregate face amount of the B/As accepted by such Lender on such date by the
product of (i) the Applicable Rate (being the applicable “B/A Stamping Fee” set forth in the
definition of such term) on such date and (ii) a fraction, the numerator of which is the number of
days in the Contract Period applicable to such B/As and the denominator of which is 365.

(d) The Company agrees to pay to the Administrative Agent, for its own account, fees payable
in the amounts and at the times separately agreed upon between the Company and the Administrative
Agent.

(e) All fees payable hereunder shall be paid on the dates due, in immediately available
funds, to the Administrative Agent or to the Issuing Banks (in the case of fees payable to them)
for distribution (i) in the case of facility fees, to the Lenders and (ii) in the case of the
participation fees, to the Tranche One Lenders or Tranche Two Lenders, as applicable and (iii) in
the case of acceptance fees, to the Tranche One Lenders. Fees paid shall not be refundable under
any circumstances.

 

47

 

SECTION 2.13. Interest. (a) The Loans comprising each ABR Borrowing (including each
Swingline Loan denominated in US Dollars) shall bear interest at the Alternate Base Rate
plus the Applicable Rate.

(b) The Revolving Loans comprising each LIBOR Revolving Borrowing shall bear interest at the
Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable
Rate.

(c) The Revolving Loans comprising each EURIBOR Revolving Borrowing shall bear interest at
the Adjusted EURIBO Rate for the Interest Period in effect for such Borrowing plus the
Applicable Rate.

(d) The Loans comprising each Canadian Prime Rate Borrowing (including Swingline Loans
denominated in Canadian Dollars) shall bear interest at the Canadian Prime Rate plus the
Applicable Rate.

(e) The Swingline Loans denominated in Sterling shall bear interest at the Sterling Overnight
Rate.

(f) The Swingline Loans denominated in Euro shall bear interest at the Euro Overnight Rate.

(g) Notwithstanding the foregoing, if any principal of or interest on any Loan, B/A or LC
Disbursement, any fee or other amount payable by any Borrower hereunder is not paid when due,
whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear
interest, after as well as before judgment, at a rate per annum equal to (i) in the case of overdue
principal of any Loan, B/A or LC Disbursement, 2% plus the interest rate or discount rate
otherwise applicable to such Loan, B/A or LC Disbursement as provided in the preceding paragraphs
of this Section or (ii) in the case of any other amount, 2% plus the rate applicable to ABR
Loans made to the Company as provided in paragraph (a) of this Section.

(h) Accrued interest on each Loan under any Tranche shall be payable in arrears on each
Interest Payment Date for such Loan and upon the termination of the Commitments of such Tranche;
provided that (i) interest accrued pursuant to paragraph (e) of this Section shall be payable on
demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an
ABR Revolving Loan, a Canadian Prime Rate Revolving Loan or a Swingline Loan denominated in
Sterling or Euro prior to the end of the Availability Period), accrued interest on the principal
amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in
the event of any conversion of any LIBOR Revolving Loan or EURIBOR Revolving Loan prior to the end
of the current Interest Period therefor, accrued interest on such Loan shall be payable on the
effective date of such conversion. All interest shall be payable in the currency in which the
applicable Loan is denominated.

(i) All interest hereunder shall be computed on the basis of a year of 360 days, except that
(i) interest on Borrowings denominated in Sterling, (ii) interest computed by reference to the
Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate and (iii)
interest on Canadian Prime Rate Borrowings and acceptance fees shall each be computed on the basis
of a year of 365 days (or, in the case of ABR Borrowings, 366 days in a leap year), and
in each case shall be payable for the actual number of days elapsed (including the first day but
excluding the last day). The applicable Adjusted LIBO Rate, Adjusted EURIBO Rate, Alternate Base
Rate or Canadian Prime Rate shall be determined by the Administrative Agent, and such determination
shall be conclusive absent manifest error.

 

48

 

SECTION 2.14. Alternate Rate of Interest. If prior to the commencement of any
Interest Period for a LIBOR Borrowing or a EURIBOR Borrowing:

(a) the Administrative Agent determines (which determination shall be conclusive absent
manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO
Rate or the Adjusted EURIBO Rate, as the case may be, for such Interest Period; or

(b) the Administrative Agent is advised by a majority in interest of the Lenders that would
make Loans as part of such Borrowing that the Adjusted LIBO Rate or Adjusted EURIBO Rate, as the
case may be, for such Interest Period will not adequately and fairly reflect the cost to such
Lenders of making or maintaining the Loans included in such Borrowing for such Interest Period;

then the Administrative Agent shall give notice thereof to the applicable Borrower and the
applicable Lenders by telephone or telecopy as promptly as practicable thereafter and, until the
Administrative Agent notifies the applicable Borrower and the applicable Lenders that the
circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that
requests the conversion of any Revolving Borrowing to, or continuation of any Revolving Borrowing
as, an affected LIBOR Borrowing or a EURIBOR Borrowing, as the case may be, shall be ineffective,
(ii) any affected LIBOR Borrowing or EURIBOR Borrowing that is requested to be continued shall (A)
if denominated in US Dollars, be continued as an ABR Borrowing, or (B) otherwise, be repaid on the
last day of the then current Interest Period applicable thereto and (iii) any Borrowing Request for
an affected LIBOR Borrowing or a EURIBOR Borrowing shall (A) if denominated in US Dollars, be
deemed a request for an ABR Borrowing, or (B) otherwise, be ineffective.

SECTION 2.15. Increased Costs. (a) If any Change in Law shall:

(i) impose, modify or deem applicable any reserve, special deposit or similar
requirement (including any compulsory loan requirement or insurance charge) against assets
of, deposits with or for the account of or credit extended by, any Lender (except any such
reserve requirement reflected in the Adjusted LIBO Rate or the Adjusted EURIBO Rate) or any
Issuing Bank; or

(ii) impose on any Lender, any Issuing Bank or the London, European or Canadian
interbank market any other condition affecting this Agreement or LIBOR Loans or EURIBOR
Loans made by or any acceptance and purchase of B/As by such Lender or the funding of such
Loans or any Letter of Credit or participations therein; or;

(iii) subject any Credit Party to any Taxes on its loans, loan principal, letters of
credit, commitments or other obligations, or its deposits, reserves, other liabilities or
capital attributable thereto (other than Other Connection Taxes on gross or net income,
profits or revenue (including value-added or similar Taxes));

 

49

 

and the result of any of the foregoing shall be to increase the cost to such Lender or such other
Credit Party of making or maintaining any LIBOR Loan or EURIBOR Loan or accepting and purchasing
any B/As (or of maintaining its obligation to make any such Loan or to accept and purchase any such
B/As) or to increase the cost to such Lender, Issuing Bank or such other Credit Party of
participating in, issuing or maintaining any Letter of Credit or to reduce the amount of any sum
received or receivable by such Lender, Issuing Bank or such other Credit Party hereunder (whether
of principal, interest or otherwise), then the applicable Borrower will pay to such Lender,
Issuing Bank or such other Credit Party, as the case may be, such additional amount or amounts as
will compensate such Lender, Issuing Bank or such other Credit Party, as the case may be, for such
additional costs incurred or reduction suffered.

(b) If any Lender or Issuing Bank determines in good faith that any Change in Law regarding
capital requirements has or would have the effect of reducing the rate of return on such Lender’s
or Issuing Bank’s capital or on the capital of such Lender’s or Issuing Bank’s holding company, if
any, as a consequence of this Agreement or the Loans made or B/As accepted and purchased by, or
participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by such
Issuing Bank, to a level below that which such Lender or Issuing Bank or such Lender’s or Issuing
Bank’s holding company could have achieved but for such Change in Law (taking into consideration
such Lender’s or Issuing Bank’s policies and the policies of such Lender’s or Issuing Bank’s
holding company with respect to capital adequacy), then from time to time the applicable Borrower
will pay to such Lender or Issuing Bank, as the case may be, such additional amount or amounts as
will compensate such Lender or Issuing Bank or such Lender’s or Issuing Bank’s holding company for
any such reduction suffered.

(c) A certificate of a Lender or Issuing Bank setting forth the amount or amounts necessary
to compensate such Lender or Issuing Bank or its holding company, as the case may be, and the
manner in which such amount or amounts have been calculated, as specified in paragraph (a) or (b)
of this Section, shall be delivered to the Company and shall be conclusive and binding upon all
parties hereto absent manifest error. The Company shall pay or cause the applicable Borrower to
pay such Lender or Issuing Bank, as the case may be, the amount shown as due on any such
certificate within 10 days after receipt thereof.

(d) Failure or delay on the part of any Lender or Issuing Bank to demand compensation
pursuant to this Section shall not constitute a waiver of such Lender’s or Issuing Bank’s right to
demand such compensation; provided that the applicable Borrower shall not be required to compensate
a Lender or Issuing Bank pursuant to this Section for any increased costs or reductions incurred
more than 180 days prior to the date that such Lender or Issuing Bank, as the case may be, notifies
the Company of the Change in Law giving rise to such increased costs or reductions and of such
Lender’s or Issuing Bank’s intention to claim compensation therefor; provided further that, if the
Change in Law giving rise to such increased costs or reductions is retroactive, then the 180-day
period referred to above shall be extended to include the period of retroactive effect thereof.

(e) The foregoing provisions of this Section shall not apply to Taxes applicable to payments
made by the Borrowers hereunder or Other Taxes, which shall be governed solely by Section 2.17.

 

50

 

SECTION 2.16. Break Funding Payments. In the event of (a) the payment of any
principal of any LIBOR Loan or any EURIBOR Loan other than on the last day of an Interest Period
applicable thereto (including as a result of an Event of Default), (b) the conversion of any LIBOR
Loan or any EURIBOR Loan other than on the last day of the Interest Period applicable thereto, (c)
the failure to borrow, convert, continue or prepay any LIBOR Loan or any EURIBOR Loan or to make
any B/A Drawing on the date specified in any notice delivered pursuant hereto (regardless of
whether any such notice may be revoked or extended under Section 2.11(d) and is revoked or extended
in accordance therewith) or (d) the assignment of any LIBOR Loan or any EURIBOR Loan or the right
to receive payment in respect of a B/A other than on the last day of the Interest Period or
Contract Period applicable thereto as a result of a request by the applicable Borrower pursuant to
Section 2.19 or the CAM Exchange, then, in any such event, the applicable
Borrower shall compensate each Lender for the loss, cost and expense (but not for any lost
profit) attributable to such event. Such loss, cost or expense to any Lender shall be deemed to
include an amount determined by such Lender to be the excess, if any, of (i) (A) with respect to a
LIBOR Loan or EURIBOR Loan, the amount of interest which would have accrued on the principal amount
of such Loan had such event not occurred, at the Adjusted LIBO Rate or the Adjusted EURIBO Rate, as
the case may be, that would have been applicable to such Loan, for the period from the date of such
event to the last day of the then current Interest Period therefor (or, in the case of a failure to
borrow, convert or continue, for the period that would have been the Interest Period for such Loan)
or (B) with respect to a B/A, (x) in the case of an event described in clause (c) above, the face
amount of such B/A minus the Discount Proceeds of such B/A and (y) in the case of an event
described in clause (d) above, the face amount of such B/A minus amounts received as a result of
such assignment over (ii) the amount of interest that would accrue on such principal amount or the
Discount Proceeds applicable to such B/A for such period at the interest rate which such Lender
would bid were it to bid, at the commencement of such period, for deposits in the applicable
currency of a comparable amount and period from other banks in the London, European or Canadian
interbank market. A certificate of any Lender setting forth in reasonable detail any amount or
amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the
Company and shall be conclusive absent manifest error. The applicable Borrower shall pay such
Lender the amount shown as due on any such certificate within 10 days after receipt thereof. Any
payments by the applicable Borrowers in respect of B/As under this section shall be made without
duplication of any payment made by any Canadian Borrowing Subsidiary under Section 2.06(i).

SECTION 2.17. Taxes. (a) Any and all payments by or on account of any obligation of
a Loan Party hereunder or under any other Loan Document shall be made free and clear of and without
deduction for any Indemnified Taxes or Other Taxes; provided that if any Loan Party shall be
required to deduct any Indemnified Taxes or Other Taxes from such payments, then (i) the sum
payable shall be increased as necessary so that after making all required deductions (including
deductions applicable to additional sums payable under this Section) the Administrative Agent, each
Lender and each Issuing Bank (as the case may be) receives an amount equal to the sum it would have
received had no such deductions been made, (ii) such Loan Party shall make such deductions and
(iii) such Loan Party shall pay the full amount deducted to the relevant Governmental Authority in
accordance with applicable law.

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

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

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

 

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(e) Each Lender shall severally indemnify the Administrative Agent for any Taxes (but, in the
case of any Indemnified Taxes or Other Taxes, only to the extent that any Loan Party has not
already indemnified the Administrative Agent for such Indemnified Taxes or Other Taxes and without
limiting the obligation of the Loan Parties to do so) attributable to such Lender that are paid or
payable by the Administrative Agent in connection with any Loan Document and any reasonable
expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or
legally imposed or asserted by the relevant Governmental Authority. The indemnity under this
Section 2.17(e) shall be paid within 10 days after the Administrative Agent delivers to the
applicable Lender a certificate stating the amount of Taxes so paid or payable by the
Administrative Agent. Such certificate shall be conclusive of the amount so paid or payable absent
manifest error.

(f) Any Lender that is entitled to an exemption from or reduction of withholding Tax under
the law of the jurisdiction in which a Borrower to which such Lender may be required to make Loans
hereunder is resident or located, or any treaty to which such jurisdiction is a party, with respect
to payments under this Agreement shall deliver to the Company (with a copy to the Administrative
Agent), at the time or times prescribed by applicable law, such properly completed and executed
documentation prescribed by applicable law or reasonably requested by the Company as will permit
such payments to be made without withholding or at a reduced rate; provided that such Lender has
received written notice from the Company advising it of the availability of such exemption or
reduction and containing all applicable documentation. In addition, any Lender, if requested by
the Company or the Administrative Agent, shall deliver such other documentation prescribed by law
or reasonably requested by the Company or the Administrative Agent as will enable the Company or
the Administrative Agent to determine whether or not such Lender is subject to any withholding
(including backup withholding) or information reporting requirements. Notwithstanding anything to
the contrary in this Section 2.17(f), the completion, execution and submission of such
documentation shall not be required if in the Lender’s judgment such completion, execution or
submission would subject such Lender to any material unreimbursed cost or expense or would
materially prejudice the legal or commercial position of such Lender. Upon the reasonable request
of the Company or the Administrative Agent, any Lender shall update any form or certification
previously delivered pursuant to this Section 2.17(f). Any Lender shall promptly notify the
Company at any time it determines that it is no longer in a position to provide any such previously
delivered documentation to the Company. If any form or certification previously delivered pursuant
to this Section 2.17(f) expires or becomes obsolete or inaccurate in any respect with respect to a
Lender, such Lender shall promptly (and in any event within 10 days after such expiration,
obsolescence or inaccuracy) notify the Company and the Administrative Agent in writing of such
expiration, obsolescence or inaccuracy and update the form or certification if it is legally
eligible to do so.

(g) If a payment made to any Lender under any Loan Document would be subject to U.S. Federal
withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable
reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the
Code, as applicable), such Lender shall deliver to the Company or the Administrative Agent, at the
time or times prescribed by law and at such time or times reasonably requested by the Company or
the Administrative Agent, such documentation prescribed by applicable law (including as prescribed
by Section 1471(b)(3)(C)(i) of the Code) and such
additional documentation reasonably requested by the Company or the Administrative Agent as
may be necessary for the Company or the Administrative Agent to comply with its obligations under
FATCA, to determine that such Lender has or has not complied with such Lender’s obligations under
FATCA and, as necessary, to determine the amount to deduct and withhold from such payment. Solely
for purposes of this Section 2.17(g), “FATCA” shall include any amendments made to FATCA after the
date of this Agreement.

 

52

 

(h) If the Administrative Agent or a Lender determines, in its sole discretion, that it has
received a refund of any Indemnified Taxes or Other Taxes as to which it has been indemnified by a
Borrower or with respect to which a Borrower has paid additional amounts pursuant to this Section,
it shall pay over such refund to such Borrower (but only to the extent of indemnity payments made,
or additional amounts paid, by such Borrower under this Section with respect to the Indemnified
Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the
Administrative Agent or such Lender and without interest (other than any interest paid by the
relevant Governmental Authority with respect to such refund); provided that such Borrower, upon the
request of the Administrative Agent or such Lender, agrees to repay the amount paid over to such
Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental
Authority) to the Administrative Agent or such Lender in the event the Administrative Agent or such
Lender is required to repay such refund to such Governmental Authority. Notwithstanding anything
to the contrary in this Section 2.17(h), in no event will the Administrative Agent or any Lender be
required to pay any amount to any Borrower pursuant to this Section 2.17(h) to the extent such
payment would place the Administrative Agent or such Lender in a less favorable position (on a net
after-Tax basis) than the Administrative Agent or such Lender would have been in if the
indemnification payments or additional amounts giving rise to such refund had never been paid.
This Section shall not be construed to require the Administrative Agent or any Lender to make
available its tax returns (or any other information relating to its taxes which it deems
confidential) to any Borrower or other Person.

(i) For purposes of Sections 2.17(e) and (f), the term “Lender” includes any Issuing Bank.

(j) If any Governmental Authority shall determine that the Administrative Agent did not
properly withhold Taxes from amounts paid to or for the account of any Lender or Issuing Bank
(whether because such recipient failed to deliver or to complete properly any form or to notify the
Administrative Agent of a change in circumstances that affected its exemption from withholding or
for any other reason), such Lender or Issuing Bank shall indemnify the Administrative Agent for all
amounts paid, directly or indirectly, by the Administrative Agent as a result of such
determination, including any penalties or interest assessed by such Governmental Authority, and
including Taxes imposed on amounts payable to the Administrative Agent under this subsection,
together with all reasonable costs and expenses related thereto.

 

53

 

SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs. (a) Each
Borrower shall make each payment required to be made by it hereunder or under any other Loan
Document (whether of principal, interest, fees or reimbursement of LC Disbursements or otherwise)
prior to the time expressly required hereunder or under such other Loan Document for such payment
or, if no such time is expressly required, prior to 1:00 p.m., Local Time, on the date when due, in
immediately available funds, without set-off or counterclaim. Any amounts received after such time
on any date may, in the discretion of the Administrative Agent, be deemed to have been received on
the next succeeding Business Day for purposes of calculating interest thereon. All such payments
shall be made to the Administrative Agent for the account of the applicable Lenders to such account
as the Administrative Agent shall from time to time specify in
one or more notices delivered to the Company, except that payments to be made directly to an
Issuing Bank or Swingline Lender as expressly provided herein shall be made directly to such
parties and payments pursuant to Sections 2.15, 2.16, 2.17, 2.20 and 11.03 shall be made directly
to the Persons entitled thereto. The Administrative Agent shall distribute any such payments
received by it for the account of any other Person to the appropriate recipient promptly following
receipt thereof. If any payment under any Loan Document shall be due on a day that is not a
Business Day, the date for payment shall be extended to the next succeeding Business Day and, in
the case of any payment accruing interest, interest thereon shall be payable for the period of such
extension. All payments hereunder of principal or interest in respect of any Loan, B/A or LC
Disbursement shall, except as otherwise expressly provided herein, be made in the currency of such
Loan, B/A or LC Disbursement; all other payments hereunder and under each other Loan Document shall
be made in US Dollars. Any payment required to be made by the Administrative Agent hereunder shall
be deemed to have been made by the time required if the Administrative Agent shall, at or before
such time, have taken the necessary steps to make such payment in accordance with the regulations
or operating procedures of the clearing or settlement system used by the Administrative Agent to
make such payment.

(b) If at any time insufficient funds are received by the Administrative Agent from any
Borrower (or from the Company as guarantor of the Obligations of such Borrower pursuant to Article
X) and available to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and
fees then due from such Borrower hereunder, such funds shall be applied (i) first, towards payment
of interest and fees then due from such Borrower hereunder, ratably among the parties entitled
thereto in accordance with the amounts of interest and fees then due to such parties and (ii)
second, towards payment of principal of the Loans and B/As and unreimbursed LC Disbursements then
due from such Borrower hereunder, ratably among the parties entitled thereto in accordance with the
amounts of such principal then due to such parties.

(c) If any Lender shall, by exercising any right of set-off or counterclaim or otherwise,
obtain payment in respect of its Loans, B/As, participations in LC Disbursements or Swingline Loans
or accrued interest on any of the foregoing (collectively “Claims”) resulting in such Lender
receiving payment of a greater proportion of the aggregate amount of its Claims than the proportion
received by any other Lender, then the Lender receiving such greater proportion shall purchase (for
cash at face value) participations in the Claims of the other Lenders to the extent necessary so
that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the
aggregate amounts of their respective Claims under such Tranche; provided that (i) if any such
participations are purchased and all or any portion of the payment giving rise thereto is
recovered, such participations shall be rescinded and the purchase price restored to the extent of
such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed
to apply to any payment made by any Borrower pursuant to and in accordance with the express terms
of this Agreement or any payment obtained by a Lender as consideration for the assignment of or
sale of a participation in any of its Claims to any assignee or participant, other than to the
Company or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall
apply). Each Borrower consents to the foregoing and agrees, to the extent it may effectively do so
under applicable law, that any Lender acquiring a participation pursuant to the foregoing
arrangements may exercise against the Company and each Borrower rights of set-off and counterclaim
with respect to such participation as fully as if such Lender were a direct creditor of the Company
or such Borrower in the amount of such participation.

 

54

 

(d) Unless the Administrative Agent shall have received notice from a Borrower prior to the
date on which any payment is due to the Administrative Agent for the account of any Lenders or
Issuing Bank hereunder that such Borrower will not make such payment, the
Administrative Agent may assume that such Borrower has made such payment on such date in
accordance herewith and may, in reliance upon such assumption, distribute to the applicable Lenders
or Issuing Bank, as the case may be, the amount due. In such event, if such Borrower has not in
fact made such payment, then each applicable Lender or Issuing Bank, as the case may be, severally
agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such
Lender or Issuing Bank with interest thereon, for each day from and including the date such amount
is distributed to it to but excluding the date of payment to the Administrative Agent, at a rate
determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation.

(e) If any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.04(c), 2.05(d) or (e), 2.07(b), 2.18(d) or 11.03(c) then the Administrative Agent may, in
its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter
received by it for the account of such Lender to satisfy such Lender’s obligations under such
Sections until all such unsatisfied obligations are fully paid.

SECTION 2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender
requests compensation under Section 2.15 or 2.20, or if any Borrower is required to pay any
additional amount to any Lender or any Governmental Authority for the account of any Lender
pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different
lending office for funding or booking its affected Loans or other extensions of credit hereunder or
to assign its affected rights and obligations hereunder to another of its offices, branches or
affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate
or reduce amounts payable pursuant to Section 2.15, 2.17 or 2.20, as the case may be, in the future
and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise
be disadvantageous to such Lender. The Borrowers hereby agree to pay all reasonable costs and
expenses incurred by any Lender in connection with any such designation or assignment.

(b) If (i) any Lender requests compensation under Section 2.15 or 2.20, (ii) any Loan Party
is required to pay any additional amount to any Lender or any Governmental Authority for the
account of any Lender pursuant to Section 2.17 or (iii) any Lender is a Defaulting Lender, then the
Company may, at its sole expense and effort, upon notice to such Lender and the Administrative
Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject
to the restrictions contained in Section 11.04), all its interests, rights and obligations under
the Loan Documents to an assignee that shall assume such obligations (which assignee may be another
Lender, if a Lender accepts such assignment); provided that (x) such Borrower shall have received
the prior written consent of the Administrative Agent (and, if a Commitment is being assigned, each
Issuing Bank), which consent, in each case, shall not unreasonably be withheld, (y) such Lender
shall have received payment of an amount equal to the outstanding principal of its Loans and B/As
and funded participations in LC Disbursements and Swingline Loans, accrued interest thereon,
accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of
such outstanding principal, funded participations and accrued interest and fees) or such Borrower
(in the case of all other amounts) and (z) in the case of any such assignment resulting from a
claim for compensation under Section 2.15 or 2.20 or payments required to be made pursuant to
Section 2.17, such assignment will result in a material reduction in such compensation or payments.
A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a
result of a waiver by such Lender or otherwise, the circumstances entitling the Company to require
such assignment and delegation cease to apply.

 

55

 

SECTION 2.20. Foreign Subsidiary Costs. (a) If the cost to any Lender of making or
maintaining any Loan to, or accepting and purchasing any B/A of, or participating in
any Letter of Credit or Swingline Loan issued for the account of or made to, any Borrower is
increased (or the amount of any sum received or receivable by any Lender (or its applicable lending
office) is reduced) by an amount deemed in good faith by such Lender to be material, by reason of
the fact that such Borrower is incorporated in, or conducts business in, a jurisdiction outside the
United States of America, the United Kingdom or Canada, such Borrower shall indemnify such Lender
for such increased cost or reduction within 15 days after demand by such Lender (with a copy to the
Administrative Agent). A certificate of such Lender claiming compensation under this paragraph and
setting forth the additional amount or amounts to be paid to it hereunder (and the basis for the
calculation of such amount or amounts) shall be conclusive in the absence of manifest error.

(b) Each Lender will promptly notify the Company and the Administrative Agent of any event of
which it has knowledge that will entitle such Lender to additional interest or payments pursuant to
paragraph (a) above, but in any event within 45 days after such Lender obtains actual knowledge
thereof; provided that (i) if any Lender fails to give such notice within 45 days after it obtains
actual knowledge of such an event, such Lender shall, with respect to compensation payable pursuant
to this Section in respect of any costs resulting from such event, only be entitled to payment
under this Section for costs incurred from and after the date 45 days prior to the date that such
Lender does give such notice and (ii) each Lender will designate a different applicable lending
office, if, in the judgment of such Lender, such designation will avoid the need for, or reduce the
amount of, such compensation and will not be otherwise disadvantageous to such Lender.

(c) Notwithstanding the foregoing, no Lender shall be entitled to compensation under this
Section to the extent the applicable Borrower is a Borrower, and the increased costs for which such
Lender is claiming compensation have been or are being incurred at the time such Lender becomes a
party to this Agreement, except to the extent that such Lender’s assignor was entitled immediately
prior to the assignment to such Lender to receive compensation with respect to such increased costs
pursuant to this Section.

(d) The foregoing provisions of this Section shall not apply to Taxes applicable to payments
made by the Borrowers hereunder or Other Taxes, which shall be governed solely by Section 2.17.

SECTION 2.21. Designation of Borrowing Subsidiaries. The Company may at any time and
from time to time designate any US Subsidiary, UK Subsidiary or Canadian Subsidiary or, with the
prior written consent of each Lender, any other Subsidiary, as a Borrower, in each case by delivery
to the Administrative Agent of a Borrower Joinder Agreement executed by such Subsidiary and by the
Company, and upon such delivery such Subsidiary shall for all purposes of this Agreement be a
Borrower and a party to this Agreement. Any Borrowing Subsidiary shall continue to be a Borrowing
Subsidiary until the Company shall have executed and delivered to the Administrative Agent a
Borrower Termination Agreement with respect to such Subsidiary, whereupon such Subsidiary shall
cease to be a Borrowing Subsidiary hereunder. Notwithstanding the preceding sentence, (a) no
Borrower Joinder Agreement shall become effective as to any Subsidiary if it shall be unlawful for
such Subsidiary to become a Borrower hereunder or for any Lender participating in a Tranche under
which such Subsidiary may borrow to make Loans or otherwise extend credit to such Subsidiary as
provided herein and (b) no Borrower Termination Agreement will become effective as to any Borrowing
Subsidiary until all Loans made to and B/As drawn by such Borrowing Subsidiary shall have been
repaid, all Letters of Credit issued for the account of such Borrowing Subsidiary have been drawn
in full or have expired and all amounts payable by such Borrowing Subsidiary in respect of LC
Disbursements,
interest and/or fees (and, to the extent notified by the Administrative Agent or any Lender,
any other amounts payable hereunder by such Borrowing Subsidiary) shall have been paid in full;
provided that such Borrower Termination Agreement shall be effective to terminate the right of such
Borrowing Subsidiary to request or receive further extensions of credit under this Agreement. As
soon as practicable upon receipt of a Borrower Joinder Agreement, the Administrative Agent shall
send a copy thereof to each Lender.

 

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SECTION 2.22. Defaulting Lenders. Notwithstanding any provision of this Agreement to
the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply
for so long as such Lender is a Defaulting Lender:

(a) fees shall cease to accrue on the unused portion of the Commitment of such Defaulting
Lender pursuant to Section 2.12(a);

(b) the Commitments and Revolving Credit Exposures of such Defaulting Lender shall not be
included in determining whether the Required Lenders have taken or may take any action hereunder
(including any consent to any amendment, waiver or other modification pursuant to Section 11.02);
provided, that this clause (b) shall not apply in the case of an amendment, waiver or other
modification requiring the consent of each Lender or each Lender affected thereby;

(c) if any Swingline Exposure or LC Exposure exists at the time such Lender becomes a
Defaulting Lender then:

(i) all or any part of the Swingline Exposures and LC Exposures of such Defaulting
Lender shall be reallocated among the non-Defaulting Tranche One Lenders or non-Defaulting
Tranche Two Lenders, as applicable, in proportion to their respective Tranche One
Percentages or Tranche Two Percentages, as applicable, but only to the extent (A) the sum
of all non-Defaulting Tranche One Lenders’ Tranche One Revolving Credit Exposures plus such
Defaulting Lender’s Tranche One Swingline Exposure and Tranche Two LC Exposure does not
exceed the total of all non-Defaulting Tranche One Lenders’ Tranche One Commitments and (B)
the sum of all non-Defaulting Tranche Two Lenders’ Tranche Two Revolving Credit Exposures
plus such Defaulting Lender’s Tranche Two Swingline Exposure and Tranche Two LC Exposure
does not exceed the total of all non-Defaulting Tranche Two Lenders’ Tranche Two
Commitments; provided that this clause (c)(i) shall not apply if, at the time the
reallocation provided for herein would otherwise have been made, an Event of Default has
occurred and is continuing;

(ii) if the reallocations described in clause (i) above cannot, or can only
partially, be effected, the Borrowers shall within one Business Day following notice by the
Administrative Agent (after giving effect to any partial reallocation pursuant to clause
(i) above) (x) prepay such Swingline Exposure and/or (y) cash collateralize for the benefit
of the Issuing Banks the Borrowers’ obligations corresponding to such Defaulting Lender’s
LC Exposure in accordance with the procedures set forth in Section 2.05(j) for so long as
such LC Exposure is outstanding;

(iii) if the Borrowers cash collateralize any portion of such Defaulting Lender’s LC
Exposure pursuant to clause (ii) above, the Borrowers shall not be required to pay any fees
to such Defaulting Lender pursuant to Section 2.12(b) with respect to such Defaulting
Lender’s LC Exposure during the period such Defaulting Lender’s LC Exposure is cash
collateralized;

 

57

 

(iv) if the LC Exposure of such Defaulting Lender is reallocated pursuant to clause
(i) above, then the fees payable to the Lenders pursuant to Section 2.12(b) shall be
adjusted in accordance with the amounts of such LC Exposure allocated to the non-Defaulting
Lenders;

(v) if all or any portion of such Defaulting Lender’s LC Exposure is neither
reallocated nor cash collateralized pursuant to clause (i) or (ii) above, then, without
prejudice to any rights or remedies of the Issuing Banks or any other Lender hereunder, all
letter of credit fees payable under Section 2.12(b) with respect to such Defaulting
Lender’s LC Exposure shall be payable to the Issuing Banks until and to the extent that
such LC Exposure is reallocated and/or cash collateralized; and

(d) so long as such Lender is a Defaulting Lender, no Swingline Lender shall be required to
fund any Swingline Loan, and no Issuing Bank shall be required to issue, amend or increase any
Letter of Credit, unless it is satisfied that the Defaulting Lender’s Swingline Exposure and LC
Exposure will be 100% reallocated to the non-Defaulting Lenders and/or cash collateralized as
provided above, and participating interests in any newly made Swingline Loan or any newly issued or
increased Letter of Credit shall be allocated among non-Defaulting Lenders of the applicable
Tranche in a manner consistent with Section 2.22(c)(i) (and such Defaulting Lender shall not
participate therein).

If (i) a Bankruptcy Event with respect to a parent entity of any Lender shall occur following
the date hereof and for so long as such event shall continue or (ii) a Swingline Lender or an
Issuing Bank has a good faith belief that any Lender has defaulted in fulfilling its obligations
under one or more other agreements in which such Lender commits to extend credit, such Swingline
Lender shall not be required to fund any Swingline Loan and such Issuing Bank shall not be required
to issue, amend or increase any Letter of Credit, unless such Swingline Lender or such Issuing
Bank, as the case may be, shall have entered into arrangements with the Borrowers or such Lender,
reasonably satisfactory to the Swingline Lender or such Issuing Bank, as the case may be, to
eliminate any risk to it in respect of such Lender hereunder.

In the event that the Administrative Agent, the Borrower, each Swingline Lender and each
Issuing Bank shall agree that a Defaulting Lender has adequately remedied all matters that caused
such Lender to be a Defaulting Lender, then the Swingline Exposures and LC Exposures of the Lenders
shall be readjusted to reflect the inclusion of such Lender’s Commitments and on such date such
Lender shall purchase at par such of the Tranche One Loans and/or Tranche Two Loans of the other
Lenders, and such funded participations in Swingline Loans and LC Disbursements, as the
Administrative Agent shall determine to be necessary in order for the Lenders to hold such Loans
and funded participations in accordance with their applicable Tranche Percentages.

ARTICLE III

Representations and Warranties

The Company represents and warrants, and each Borrower represents and warrants as to itself
and its subsidiaries, to the Lenders that:

SECTION 3.01. Organization; Powers. Each Loan Party is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its organization, has all
requisite power and authority to carry on its business as now conducted and, except where the
failure to do so, individually or in the aggregate, could not reasonably be expected to result
in a Material Adverse Effect, is qualified to do business and is in good standing, in every
jurisdiction where such qualification is required.

 

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SECTION 3.02. Authorization; Enforceability. The Transactions to be entered into by
each Loan Party are within such Loan Party’s corporate, partnership or other applicable powers and
have been duly authorized by all necessary corporate, partnership and, if required, stockholder or
other equityholder action. This Agreement has been duly executed and delivered by each Borrower and
constitutes, and each other Loan Document to which any Loan Party is to be a party, when executed
and delivered by such Loan Party, will constitute, a legal, valid and binding obligation of such
Borrower or Loan Party (as the case may be), enforceable in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’
rights generally and subject to general principles of equity, regardless of whether considered in a
proceeding in equity or at law.

SECTION 3.03. Governmental Approvals; No Conflicts. (a) The Transactions (i) do not
require any consent or approval of, registration or filing with, or any other action by, any
Governmental Authority, (ii) will not violate any applicable law or regulation or the charter,
by-laws or other organizational documents of any Loan Party or any order of any Governmental
Authority, (iii) will not violate or result in a default under any indenture, material agreement or
other material instrument binding upon any Loan Party or its assets, or give rise to a right
thereunder to require any payment to be made by any Loan Party and (iv) will not result in the
creation or imposition of any Lien on any asset of any Loan Party (other than Liens created
hereunder).

(b) Neither the Company nor any of the Subsidiaries is engaged principally, or as one of its
important activities, in the business of extending credit for the purpose of purchasing or carrying
margin stock (as defined in Regulation U of the Board). No part of the proceeds of any Loan will
be used, whether directly or indirectly, for any purpose that would entail a violation of such
Regulation U. Following the application of the proceeds of each Borrowing, not more than 25% of
the value of the assets (either of the Company only or of the Company and its Subsidiaries on a
consolidated basis) will be margin stock (within the meaning of Regulation U).

SECTION 3.04. Financial Condition; No Material Adverse Change. (a) The Company has heretofore furnished to the Lenders its consolidated
balance sheet and statements of income, stockholders’ equity and cash flows (i) as of and for the
fiscal year ended September 30, 2010, audited and reported on by Ernst & Young LLP, independent
public accountants and (ii) as of and for the fiscal quarter ended December 31, 2010, certified by
its chief financial officer. Such financial statements present fairly, in all material respects,
the financial position and results of operations and cash flows of the Company and its consolidated
subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end
audit adjustments and the absence of footnotes in the case of the statements referred to in clause
(ii) above.

(b) Since September 30, 2010, there has been no material adverse change in the business,
assets, operations, prospects or condition (financial or otherwise) of the Company and the
Subsidiaries, taken as a whole.

 

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SECTION 3.05. Properties. (a) The Company and each of the Subsidiaries has good
title to, or valid leasehold interests in, all its real and personal property material to its
business, except for minor defects in title that do not interfere with its ability to conduct its
business as currently conducted or to utilize such properties for their intended purposes.

(b) Each of the Company and the Subsidiaries owns, or is licensed to use, all trademarks,
tradenames, copyrights, patents and other intellectual property material to its business, and the
use thereof by the Company and the Subsidiaries does not infringe upon the rights of any other
Person, except for any such infringements that, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect.

SECTION 3.06. Litigation and Environmental Matters. (a) There are no actions, suits
or proceedings by or before any arbitrator or Governmental Authority (including the United States
Food and Drug Administration and the corresponding Governmental Authorities in Canada and the
United Kingdom) pending against or, to the knowledge of the Company, threatened against or
affecting the Company or any of the Subsidiaries (i) as to which there is a reasonable likelihood
of an adverse determination and that, if adversely determined, could reasonably be expected,
individually or in the aggregate, to result in a Material Adverse Effect or (ii) that involve any
of the Loan Documents or the Transactions.

(b) Except with respect to any matters that, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect, neither the Company nor any of the
Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply
with any permit, license or other approval required under any Environmental Law, (ii) has become
subject to any Environmental Liability, (iii) has received notice of any claim with respect to any
Environmental Liability or (iv) knows of any basis for any Environmental Liability.

SECTION 3.07. Compliance with Laws and Agreements. Each of the Company and the
Subsidiaries is in compliance with all laws, regulations and orders of any Governmental Authority
applicable to it or its property and all indentures, agreements and other instruments binding upon
it or its property, except where the failure to comply, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect. No Default has occurred and is
continuing.

SECTION 3.08. Investment Company Status. Neither the Company nor any of the
Subsidiaries is an “investment company” as defined in, or subject to regulation under, the
Investment Company Act of 1940.

SECTION 3.09. Taxes. Each of the Company and the Subsidiaries has timely filed or
caused to be filed all Tax returns and reports required to have been filed and has paid or caused
to be paid all Taxes required to have been paid by it, except (a) any Taxes that are being
contested in good faith by appropriate proceedings and for which the Company or such Subsidiary, as
applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to
do so could not reasonably be expected to result in a Material Adverse Effect.

SECTION 3.10. ERISA. No ERISA Event has occurred or is reasonably expected to occur
that, when taken together with all other such ERISA Events for which liability is reasonably
expected to occur, could reasonably be expected to result in a Material Adverse Effect. Any excess
of the accumulated benefits under one or more Plans (based on the assumptions used for purposes of
Accounting Standards Codification Topic 715) over the fair market value of the assets of such Plan
or Plans is in an amount that could not reasonably be expected, individually or in the aggregate,
to result in a Material Adverse Effect.

 

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SECTION 3.11. Disclosure. The Company has disclosed to the Lenders all agreements,
instruments and corporate or other restrictions to which the Company or any of the Subsidiaries is
subject, and all other matters known to any of them, that, individually or in the aggregate, could
reasonably be expected to result in a Material Adverse Effect. Neither the
Information Memorandum nor any of the other reports, financial statements, certificates or
other information furnished by or on behalf of any Loan Party to the Administrative Agent or any
Lender in connection with the negotiation of this Agreement or any other Loan Document or delivered
hereunder or thereunder (as modified or supplemented by other information so furnished), taken as a
whole, contains any material misstatement of fact or omits to state any material fact necessary to
make the statements therein, in the light of the circumstances under which they were made, not
misleading; provided that, with respect to projected financial information, the Company represents
only that such information was prepared in good faith based upon assumptions believed to be
reasonable at the time.

SECTION 3.12. Subsidiaries. Schedule 3.12 sets forth the name of, and the
ownership interest of the Company in, each Subsidiary and identifies each Subsidiary that is a
Designated Subsidiary, in each case as of the Effective Date.

SECTION 3.13. Insurance. Schedule 3.13 sets forth a description of all
insurance maintained by or on behalf of the Company and the Subsidiaries as of the Effective Date.
As of the Effective Date, all premiums in respect of such insurance have been paid to the extent
due. The Company believes that the insurance maintained by or on behalf of the Company and the
Subsidiaries is adequate.

SECTION 3.14. Labor Matters. As of the Effective Date, there are no strikes,
lockouts or slowdowns against the Company or any Subsidiary pending or, to the knowledge of the
Company, threatened. The hours worked by and payments made to employees of the Company and the
Subsidiaries have not been in violation in any material respect of the Fair Labor Standards Act or
any other applicable Federal, state, local or foreign law dealing with such matters. All payments
due from the Company or any Subsidiary, or for which any claim may be made against the Company or
any Subsidiary, on account of wages and employee health and welfare insurance and other benefits,
have been paid or accrued as a liability on the books of the Company or such Subsidiary. The
consummation of the Transactions will not give rise to any right of termination or right of
renegotiation on the part of any union under any collective bargaining agreement to which the
Company or any Subsidiary is bound.

ARTICLE IV

Conditions

SECTION 4.01. Effective Date. The obligations of the Lenders to make Loans and
accept and purchase B/As and of the Issuing Banks to issue Letters of Credit hereunder shall not
become effective until the date on which each of the following conditions is satisfied (or waived
in accordance with Section 11.02):

(a) The Administrative Agent (or its counsel) shall have received from each party
hereto either (i) a counterpart of this Agreement signed on behalf of such party or (ii)
written evidence reasonably satisfactory to the Administrative Agent (which may include
telecopy transmission of a signed signature page of this Agreement) that such party has
signed a counterpart of this Agreement.

(b) The Administrative Agent shall have received a favorable written opinion
(addressed to the Administrative Agent and the Lenders and dated the Effective Date) of (i)
Morgan, Lewis & Bockius LLP, counsel for the Borrowers, substantially in the form of
Exhibit F-1, (ii) John G. Chou, General Counsel of the Company, substantially in
the form of Exhibit F-2, (iii) McCarthy Tétrault, counsel for the Canadian
Borrowing Subsidiaries on the date hereof, substantially in the form of Exhibit
F-3, and (iv) Morgan, Lewis & Bockius LLP, counsel for the UK Borrowing Subsidiaries on
the date hereof, substantially in the form of Exhibit F-4 and, in each case,
covering such other matters relating to the Loan Parties, the Loan Documents or the
Transactions as the Administrative Agent or the Required Lenders shall reasonably request.
The Company hereby requests such counsel to deliver such opinions.

 

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(c) The Administrative Agent shall have received such documents and certificates as
the Administrative Agent or its counsel may reasonably request relating to the
organization, existence and good standing of each Loan Party, the authorization of the
Transactions and any other legal matters relating to the Loan Parties, the Loan Documents
or the Transactions, all in form and substance satisfactory to the Administrative Agent and
its counsel.

(d) The Administrative Agent shall have received a certificate, dated the Effective
Date and signed by the Chief Executive Officer, President, a Vice President or a Financial
Officer of the Company, confirming compliance with the conditions set forth in paragraphs
(a) and (b) of Section 4.02 and in paragraph (f) of this Section.

(e) The Administrative Agent shall have received all fees and other amounts due and
payable on or prior to the Effective Date, including, to the extent invoiced, reimbursement
or payment of all out-of-pocket expenses (including fees, charges and disbursements of
counsel) required to be reimbursed or paid by any Loan Party hereunder or under any other
Loan Document.

(f) The Guarantee Requirement shall be satisfied.

(g) The commitments under the Existing Credit Agreement shall have been terminated,
the loans and other amounts outstanding or accrued thereunder, whether or not at the time
due and payable, shall have been paid in full, all letters of credit outstanding thereunder
shall have expired or been terminated or shall be Existing Letters of Credit, and all Liens
securing such loans and other amounts shall have been released.

(h) The Agents and Lenders shall have received all documentation and other
information requested by them for purposes of ensuring compliance with applicable “know
your customer” and anti-money laundering rules and regulations, including the U.S.A.
Patriot Act, the Criminal Code (Canada), the Proceeds of Crime (Money Laundering) and
Terrorist Financing Act (Canada) and the Anti-terrorism Act (Canada), not fewer than five
Business Days prior to the Closing Date.

The Administrative Agent shall notify the Company and the Lenders of the Effective Date, and such
notice shall be conclusive and binding. Notwithstanding the foregoing, the obligations of the
Lenders to make Loans and accept and purchase B/As and of the Issuing Banks to issue Letters of
Credit hereunder shall not become effective unless each of the foregoing conditions is satisfied
(or waived pursuant to Section 11.02) at or prior to 5:00 p.m., New York City time, on March 21,
2011 (and, in the event such conditions are not so satisfied or waived, the Commitments shall
terminate at such time).

 

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SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the
occasion of any Borrowing or to accept and purchase B/As on the occasion of any B/A Drawing, and of
each Issuing Bank to issue, amend, renew or extend any Letter of Credit, is
subject to receipt of the request therefor in accordance herewith and to the satisfaction of
the following conditions:

(a) With the exception of the representation set forth in Section 3.04(b), which must
be true and correct in all material respects on the Closing Date only, the representations
and warranties of each Loan Party set forth in the Loan Documents shall be true and correct
in all material respects on and as of the date of such Borrowing or B/A Drawing or the date
of issuance, amendment, renewal or extension of such Letter of Credit, as applicable.

(b) At the time of and immediately after giving effect to such Borrowing or B/A
Drawing or the issuance, amendment, renewal or extension of such Letter of Credit, as
applicable, no Default shall have occurred and be continuing.

Each Borrowing or B/A Drawing and each issuance, amendment, renewal or extension of a Letter of
Credit shall be deemed to constitute a representation and warranty by the Company on the date
thereof as to the matters specified in paragraphs (a) and (b) of this Section.

SECTION 4.03. Initial Credit Event for each Additional Borrowing Subsidiary. The
obligations of the Lenders to make Loans to and accept and purchase B/As issued by, and the
obligations of the Issuing Banks to issue Letters of Credit for the account of any Borrowing
Subsidiary that becomes a Borrowing Subsidiary after the Closing Date in accordance with Section
2.21 are subject to the satisfaction of the following conditions:

(a) The Administrative Agent (or its counsel) shall have received such Borrower’s
Borrower Joinder Agreement duly executed by all parties thereto.

(b) The Administrative Agent shall have received such documents (including such legal
opinions) as the Administrative Agent or its counsel may reasonably request relating to the
formation, existence and good standing of such Borrower, the authorization and legality of
the Transactions insofar as they relate to such Borrower and any other legal matters
relating to such Borrower, its Borrower Joinder Agreement or such Transactions, all in form
and substance reasonably satisfactory to the Administrative Agent and its counsel.

(c) The Administrative Agent and the Lenders shall have received, at least five
Business Days prior to the making of such Loans, acceptance and purchase of such B/As or
issuance of such Letters of Credit, all documentation and other information relating to
such Borrower requested by them for purposes of ensuring compliance with applicable “know
your customer” and anti-money laundering rules and regulations, including the U.S.A.
Patriot Act.

 

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ARTICLE V

Affirmative Covenants

Until the Commitments have expired or been terminated and the principal of and interest on
each Loan and each B/A and all fees payable hereunder have been paid in full and all Letters of
Credit have expired or terminated and all LC Disbursements have been reimbursed, the Company
covenants and agrees, and each Borrower covenants and agrees, as to itself and its subsidiaries,
with the Lenders that:

SECTION 5.01. Financial Statements and Other Information. The Company will furnish
to the Administrative Agent, which will make available by means of electronic posting to each
Lender:

(a) as soon as available, and in any event within 95 days after the end of each fiscal year
of the Company, its audited consolidated balance sheet and related statements of operations,
stockholders’ equity and cash flows as of the end of and for such year, in each case setting forth
in comparative form the figures for the previous fiscal year, all reported on by independent public
accountants of recognized national standing (without a “going concern” or like qualification or
exception and without any qualification or exception as to the scope of such audit) to the effect
that such consolidated financial statements present fairly in all material respects the financial
condition and results of operations of the Company and the consolidated Subsidiaries on a
consolidated basis in accordance with GAAP consistently applied;

(b) as soon as available, and in any event within 50 days after the end of each of the first
three fiscal quarters of each fiscal year of the Company, its unaudited consolidated balance sheet
and related statements of operations, stockholders’ equity and cash flows as of the end of and for
such fiscal quarter and the then elapsed portion of the fiscal year, in each case setting forth in
comparative form the figures for the corresponding period or periods of (or, in the case of the
balance sheet, as of the end of) the previous fiscal year, all certified by a Financial Officer of
the Company as presenting fairly in all material respects the financial condition and results of
operations of the Company and its consolidated Subsidiaries on a consolidated basis in accordance
with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of
footnotes;

(c) concurrently with any delivery of financial statements under clause (a) or (b) above, a
certificate of a Financial Officer of the Company (i) certifying as to whether a Default has
occurred and, if a Default has occurred, specifying the details thereof and any action taken or
proposed to be taken with respect thereto, (ii) setting forth reasonably detailed calculations
demonstrating compliance with Section 6.11 and (iii) stating whether any change in GAAP or in the
application thereof has occurred since the date of the Company’s audited financial statements
referred to in Section 3.04 and, if any such change has occurred, specifying the effect of such
change on the financial statements accompanying such certificate;

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

(e) promptly following a request therefor, any documentation or other information that a
Lender reasonably requests in order to comply with its ongoing obligations under applicable “know
your customer” and anti-money laundering rules and regulations, including the USA Patriot Act; and

(f) promptly following any request therefor, such other information regarding the operations,
business affairs, assets and financial condition of the Company or any Subsidiary, or compliance
with the terms of any Loan Document, as the Administrative Agent, or any Lender through the
Administrative Agent, may reasonably request, it being understood that the Company may require any
Lender receiving such information to confirm in writing its confidentiality obligations under
Section 11.12.

 

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Information required to be delivered pursuant to paragraphs (a), (b) and (d) of this Section
shall be deemed to have been delivered on the date on which the Company posts such information on
the Company’s website on the Internet at http://www.amerisourcebergen.com or at the appropriate
Borrower designated website at http://www.sec.gov or http://intralinks.com.

SECTION 5.02. Notices of Material Events. The Company will furnish to the
Administrative Agent and each Lender prompt written notice of the following:

(a) the occurrence of any Default;

(b) the filing or commencement of any action, suit or proceeding by or before any
arbitrator or Governmental Authority against or affecting the Company or any Affiliate
thereof that is reasonably likely to be adversely determined and, if adversely determined,
could reasonably be expected to result in a Material Adverse Effect;

(c) the occurrence of any ERISA Event that, alone or together with any other ERISA
Events that have occurred, could reasonably be expected to result in liability of the
Company and the Subsidiaries in an aggregate amount exceeding $50,000,000;

(d) the amendment, modification or waiver of any provision of any agreement or
instrument relating to any Securitization in effect on the date hereof to (i) add any
termination event or other similar event, however denominated, or to make any existing such
event more onerous to the Company, any Subsidiary or any Securitization Entity, (ii)
advance the stated date on which such Securitization terminates, (iii) materially reduce
the amount of such Securitization or (iv) materially reduce the advance rate of such
Securitization; and

(e) any other development that results in, or could reasonably be expected to result
in, a Material Adverse Effect.

Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer
or other executive officer of the Company setting forth the details of the event or development
requiring such notice and any action taken or proposed to be taken with respect thereto.

SECTION 5.03. Existence; Conduct of Business. The Company will, and will cause each
of its Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in
full force and effect its legal existence and the rights, licenses, permits, privileges,
franchises, patents, copyrights, trademarks and trade names material to the conduct of its
business; provided that the foregoing shall not prohibit any merger, amalgamation, consolidation,
liquidation or dissolution permitted under Section 6.03.

SECTION 5.04. Payment of Obligations. The Company will, and will cause each of the
Subsidiaries to, pay its Indebtedness and other obligations, including Tax liabilities, before the
same shall become delinquent or in default, except where (a) the validity or amount thereof is
being contested in good faith by appropriate proceedings, (b) the Company or the applicable
Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with
GAAP, (c) such contest effectively suspends collection of the contested obligation and the
enforcement of any Lien securing such obligation and (d) the failure to make payment pending such
contest could not reasonably be expected to result in a Material Adverse Effect.

 

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SECTION 5.05. Maintenance of Properties; Insurance. The Company will, and will cause
each of the Subsidiaries to, (a) keep and maintain all property material to the conduct of its
business in good working order and condition, ordinary wear and tear excepted and (b) maintain,
with financially sound and reputable insurance companies, insurance in such amounts and against
such risks as are customarily maintained by companies engaged in the same or similar businesses
operating in the same or similar locations.

SECTION 5.06. Books and Records; Inspection and Audit Rights. The Company will, and
will cause each of the Subsidiaries to, keep proper books of record and account in which full, true
and correct entries are made of all dealings and transactions in relation to its business and
activities. The Company will, and will cause each of the Subsidiaries to, permit any
representatives designated by the Administrative Agent or any Lender to visit and inspect its
properties, to examine and make extracts from its books and records and to discuss its affairs,
finances and condition with its officers and independent accountants, all at such reasonable times
and as often as reasonably requested, subject to such reasonable notice requirements and other
procedures as shall from time to time be agreed upon by the Company and the Administrative Agent.

SECTION 5.07. Compliance with Laws. The Company will, and will cause each of the
Subsidiaries to, comply with all laws, rules, regulations and orders of any Governmental Authority
applicable to it or its property, except where the failure to do so, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse Effect.

SECTION 5.08. Use of Proceeds and Letters of Credit. The proceeds of the Loans will
be used only for the purposes set forth in the preamble of this Agreement. No part of the proceeds
of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation
of any of the Regulations of the Board, including Regulations U and X. Letters of Credit will be
issued only for general corporate purposes.

SECTION 5.09. Additional Subsidiaries. If any additional Subsidiary is formed or
acquired after the Effective Date, the Company will, within 45 days after such Subsidiary is formed
or acquired, notify the Administrative Agent and the Lenders thereof and cause the Guarantee
Requirement to be satisfied with respect to such Subsidiary (if it is not an Excluded Subsidiary).
Subject to Section 11.16, the Company will cause the Guarantee Requirement to remain satisfied at
all times.

SECTION 5.10. Senior Debt Status. In the event that the Company or any Designated
Subsidiary shall at any time issue or have outstanding any Indebtedness that by its terms is
subordinated to any other Indebtedness of the Company or such Subsidiary, the Company shall take or
cause such Subsidiary to take all such actions as shall be necessary to cause the Obligations to
constitute senior indebtedness (however denominated) in respect of such subordinated Indebtedness
and to enable the Lenders to have and exercise any payment blockage or other remedies available or
potentially available to holders of senior indebtedness under the terms of such subordinated
Indebtedness. Without limiting the foregoing, the Obligations are hereby designated as “senior
indebtedness” and, if relevant, as “designated senior indebtedness” in respect of all such
subordinated Indebtedness and are further given all such other designations as shall be required
under the terms of any such subordinated Indebtedness in order that the Lenders may have and
exercise any payment blockage or other remedies available or potentially available to holders of
senior indebtedness under the terms of such subordinated indebtedness.

 

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ARTICLE VI

Negative Covenants

Until the Commitments have expired or terminated and the principal of and interest on each
Loan and each B/A and all fees payable hereunder have been paid in full and all Letters of Credit
have expired or terminated and all LC Disbursements have been reimbursed, the Company covenants and
agrees, and each Borrower covenants and agrees, as to itself and its subsidiaries, with the Lenders
that:

SECTION 6.01. Indebtedness. (a) The Company will not permit any Subsidiary to be
liable for the Senior Notes or any other Material Indebtedness (other than (x) Indebtedness
referred to in clauses (i) and (ii) of paragraph (b) below, (y) Guarantees by Foreign Subsidiaries
of Material Indebtedness of other Foreign Subsidiaries and (z) Material Indebtedness of Foreign
Subsidiaries that is not Guaranteed by any Domestic Subsidiary), whether as a primary obligor or
under any Guarantee, unless such Subsidiary (i) shall be a party to and a Guarantor under the
Guarantee Agreement or (ii) if the Guarantee Agreement shall have been terminated as provided in
Section 11.16, shall have executed and delivered a Guarantee of the Obligations satisfactory in
form and substance to the Administrative Agent. The Company will not permit any such Material
Indebtedness to contain any provision requiring, contingently or otherwise, that any Subsidiary
guarantee any obligations thereunder (other than any provision requiring Guarantees by Foreign
Subsidiaries of Material Indebtedness of other Foreign Subsidiaries) unless this Agreement shall
have been amended to incorporate such provision, mutatis mutandis, into the appropriate Article
herein.

(b) The Company will not, and will not permit any Subsidiary to, enter into any inventory
securitization transaction, or create, incur, assume or permit to exist any Indebtedness of an
Excluded Subsidiary other than:

(i) Indebtedness under the Existing Securitization or any other Securitization;

(ii) Indebtedness of Excluded Subsidiaries under this Agreement; and

(iii) Indebtedness of Excluded Subsidiaries (other than any Securitization Entity) in
an aggregate principal amount not exceeding $500,000,000 at any time outstanding.

SECTION 6.02. Liens. The Company will not, and will not permit any Subsidiary to,
create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter
acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights
in respect of any thereof, except:

(a) Permitted Encumbrances;

(b) any Lien on any property or asset of the Company or any Subsidiary existing on
the date hereof and set forth in Schedule 6.02; provided that (i) such Lien shall
not apply to any other property or asset of the Company or any Subsidiary and (ii) such
Lien shall secure only those obligations which it secures on the date hereof and
extensions, renewals and replacements thereof that do not increase the outstanding
principal amount thereof;

 

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(c) any Lien existing on any property or asset prior to the acquisition thereof by
the Company or any Subsidiary or existing on any property or asset of any Person that
becomes a Subsidiary after the date hereof prior to the time such Person becomes a
Subsidiary; provided that (i) such Lien is not created in contemplation of or in connection
with such acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such
Lien shall not apply to any other property or assets of the Company or any Subsidiary and
(iii) such Lien shall secure only those obligations which it secures on the date of such
acquisition or the date such Person becomes a Subsidiary, as the case may be, and
extensions, renewals and replacements thereof that do not increase the outstanding
principal amount thereof;

(d) Liens on fixed or capital assets acquired, constructed or improved by the Company
or any Subsidiary; provided that (i) such Liens secure only Indebtedness incurred to
finance the acquisition, construction or improvement of such fixed or capital assets,
including any Capital Lease Obligations or other Indebtedness assumed in connection with
the acquisition of any such assets or secured by a Lien on any such assets prior to the
acquisition thereof, and extensions, renewals and replacements of any such Indebtedness
that do not increase the outstanding principal amount thereof or result in an earlier
maturity date or decreased weighted average life thereof, (ii) such security interests and
the Indebtedness secured thereby are incurred prior to or within 90 days after such
acquisition or the completion of such construction or improvement, (iii) the Indebtedness
secured thereby does not exceed 100% of the cost of acquiring, constructing or improving
such fixed or capital assets and (iv) such security interests shall not apply to any other
property or assets of the Company or any Subsidiary;

(e) Liens on accounts receivable and the Proceeds thereof existing or deemed to exist
in connection with any Securitization permitted pursuant to Section 6.01; and

(f) other Liens securing obligations not greater than US$100,000,000 in the
aggregate.

SECTION 6.03. Fundamental Changes. (a) The Company will not, and will not permit
any Subsidiary to, merge into, amalgamate with or consolidate with any other Person, or permit any
other Person to merge into, amalgamate with or consolidate with it, or liquidate or dissolve,
except that if at the time thereof and immediately after giving effect thereto no Default shall
have occurred and be continuing, (i) any Subsidiary may merge into the Company in a transaction in
which the Company is the surviving corporation, (ii) any Subsidiary may merge into any Subsidiary
in a transaction in which the surviving entity is a Subsidiary (and (A) if any party to such merger
is a Designated Subsidiary, the surviving entity is a Designated Subsidiary and (B) if any party to
such merger is a Borrower, the surviving entity is a Borrower), (iii) any acquisition permitted
under Section 6.04 may be accomplished by a merger of one or more Subsidiaries in a transaction in
which the surviving entity is a Subsidiary (and (A) if any party to such merger is a Designated
Subsidiary, the surviving entity is a Designated Subsidiary and (B) if any party to such merger is
a Borrower, the surviving entity is a Borrower) and (iv) any Subsidiary (other than a Designated
Subsidiary or a Borrower) may liquidate or dissolve if the Company determines in good faith that
such liquidation or dissolution is in the best interests of the Company and is not materially
disadvantageous to the Lenders; provided that any such merger or amalgamation involving a Person
that is not a wholly owned Subsidiary immediately prior to such merger or amalgamation shall not be
permitted unless also permitted by Section 6.04.

(b) The Company will not, and will not permit any of the Subsidiaries to, engage to any
material extent in any business other than businesses of the type conducted by the Company and the
Subsidiaries on the Closing Date and businesses reasonably related thereto or to the healthcare
industry or such other business as shall have been approved by the Required Lenders.

 

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SECTION 6.04. Investments, Loans, Advances, Guarantees and Acquisitions. The Company
will not, and will not permit any of the Subsidiaries to, purchase or acquire (including pursuant
to any merger or amalgamation with any Person that was not a wholly owned Subsidiary prior to such
merger or amalgamation) any Equity Interests in or evidences of indebtedness or other securities
(including any option, warrant or other right to acquire any of the foregoing) of, make any loans
or advances to, Guarantee any obligations of, or make any investment or acquire any other interest
in, any other Person, or purchase or otherwise acquire (in one transaction or a series of
transactions) any assets of any other Person constituting a business unit, if (a) a Default shall
have occurred and be continuing or would occur as a result of any such transaction and any related
incurrence of Indebtedness or (b) the Company shall not be in compliance with Section 6.11
(determined on a pro forma basis as if such transaction and any related incurrence
of Indebtedness had occurred on the first day of the most recent period of four fiscal quarters for
which financial statements shall have been delivered pursuant to Section 5.01(a) or (b)). The
foregoing provisions of this Section shall not prohibit (a) investments, loans, advances,
guarantees or acquisitions made pursuant to or in connection with the Existing Securitization or
any other Securitization or (b) Permitted Investments.

SECTION 6.05. Asset Sales. The Company will not, and will not permit any of the
Subsidiaries to, sell, transfer, lease or otherwise dispose of any asset, including any Equity
Interest owned by it, nor will the Company permit any of the Subsidiaries to issue any additional
Equity Interest in such Subsidiary, except:

(a) sales of inventory, obsolete or surplus equipment and Permitted Investments in
the ordinary course of business;

(b) sales, transfers and dispositions to the Company or a Subsidiary; provided that
any such sales, transfers or dispositions involving a Subsidiary that is not a Designated
Subsidiary shall be made in compliance with Section 6.08;

(c) sales of accounts receivable and the Proceeds thereof under any Securitization;
and

(d) sales, transfers and other dispositions of assets that are not permitted by any
other clause of this Section (including pursuant to sale and leaseback transactions);
provided that the aggregate fair market value of all assets sold, transferred or otherwise
disposed of in reliance upon this clause (d) shall not exceed, at any time, 20% of the
Consolidated Tangible Assets of the Company and the Subsidiaries, as reflected on a
consolidated balance sheet of the Company as of the last day of the most recent fiscal
quarter for which financial statements shall have been delivered pursuant to Section
5.01(a) and (b), most recently prior to such sale or disposition.

SECTION 6.06. Hedging Agreements. The Company will not, and will not permit any of
the Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into
in the ordinary course of business to hedge or mitigate risks to which the Company or any
Subsidiary is exposed in the conduct of its business or the management of its liabilities and not
for any speculative purpose.

 

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SECTION 6.07. Restricted Payments; Certain Payments of Indebtedness. (a) The
Company will not, and will not permit any of the Subsidiaries to, declare or make, or agree to pay
or make, directly or indirectly, any Restricted Payment if a Default shall have occurred and be
continuing or would occur as a result of making such Restricted Payment and any related incurrence
of Indebtedness; provided that (i) Subsidiaries may declare and pay dividends ratably with respect
to their Equity Interests and (ii) the Company may pay any cash dividend declared by it not more
than 60 days prior to such payment if the payment of such dividend on the date on which it was
declared would have been permitted under this paragraph.

(b) The Company will not, and will not permit any of the Subsidiaries to, make or agree to
pay or make, directly or indirectly, any payment or other distribution (whether in cash, securities
or other property) of or in respect of principal of or interest on any Indebtedness, or any payment
or other distribution (whether in cash, securities or other property), including any sinking fund
or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation
or termination of any Indebtedness, if a Default shall have occurred and be continuing or would
occur as a result of making such payment and any related incurrence of Indebtedness; provided that
the Company or any Subsidiary may pay Indebtedness created under the Loan Documents and make
regularly scheduled interest payments and scheduled or mandatory principal payments as and when due
in respect of any Indebtedness.

SECTION 6.08. Transactions with Affiliates. The Company will not, and will not
permit any of the Subsidiaries to, sell, lease or otherwise transfer any material amount of
property or assets to, or purchase, lease or otherwise acquire any material amount of property or
assets from, or otherwise engage in any other material transactions with, any Affiliate of the
Company or such Subsidiary, except (a) transactions that are at prices and on terms and conditions
not less favorable to the Company or such Subsidiary than could be obtained on an arm’s-length
basis from unrelated third parties, (b) transactions between or among the Company and the
Designated Subsidiaries not involving any other Affiliate, (c) transactions between the Company or
any Subsidiary and any Securitization Entity pursuant to any Securitization and (d) any Restricted
Payment permitted by Section 6.07.

SECTION 6.09. Restrictive Agreements. The Company will not, and will not permit any
of the Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement
or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the
Company or any Domestic Subsidiary to create, incur or permit to exist any Lien upon any of its
property or assets (including, without limitation, negative pledges, but other than negative
pledges that do not prohibit, restrict or impose any condition upon Liens securing this Agreement
or the Obligations) or (b) the ability of any Domestic Subsidiary to pay dividends or other
distributions with respect to any shares of its capital stock or to make or repay loans or advances
to the Company or any other Subsidiary or to Guarantee Indebtedness of the Company or any other
Subsidiary; provided that (i) the foregoing shall not apply to restrictions and conditions imposed
by law or by any Loan Document or by any agreement, document or instrument relating to any
Securitization or any indenture, agreement or instrument evidencing or governing Indebtedness, in
each case, as in effect on the date hereof or as modified in accordance herewith, or relating to
the Existing Securitization as modified in accordance herewith, (ii) the foregoing shall not apply
to restrictions and conditions existing on the date hereof identified on Schedule 6.09 (but
shall apply to any amendment or modification expanding the scope of any such restriction or
condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained
in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions
and conditions apply only to the Subsidiary that is to be sold and such sale is permitted
hereunder, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed
by any agreement relating to secured Indebtedness permitted by this Agreement if such
Indebtedness is incurred in accordance with Section 6.01 and such restrictions or conditions apply
only to the property or assets financed with such Indebtedness, (v) clause (a) of the foregoing
shall not apply to customary provisions in leases and other contracts restricting the assignment
thereof and (vi) the Company may enter into agreements limiting Guarantees by Subsidiaries,
provided that any such agreements do not limit or impair the Guarantees issued or required to be
issued in connection with this Agreement.

 

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SECTION 6.10. Material Documents. The Company will not, nor will it permit any
Subsidiary to, amend, modify or waive in any manner that could reasonably be expected to adversely
affect the Lenders any of its rights under (i) any indenture, material agreement or material
instrument evidencing or governing Indebtedness or (ii) its certificate of incorporation, by-laws
or other organizational documents.

SECTION 6.11. Leverage Ratio. The Company will not permit the Leverage Ratio as of
the last day of any fiscal quarter to exceed 3.00 to 1.00.

SECTION 6.12. Fiscal Quarters. The Company will not change, and will not permit any
Subsidiary to change, (a) the fiscal year end of the Company or any Subsidiary to any date other
than September 30 or (b) the fiscal quarter ends of the Company or any Subsidiary to any date other
than March 31, June 30, September 30 or December 31.

ARTICLE VII

Events of Default

If any of the following events (“Events of Default”) shall occur:

(a) any Borrower shall fail to pay any principal of any Loan or any B/A or any
reimbursement obligation in respect of any LC Disbursement when and as the same shall
become due and payable, whether at the due date thereof or at a date fixed for prepayment
thereof or otherwise;

(b) any Borrower shall fail to pay any interest on any Loan or any fee or any other
amount (other than an amount referred to in clause (a) of this Article) payable under this
Agreement or any other Loan Document, when and as the same shall become due and payable,
and such failure shall continue unremedied for a period of three Business Days;

(c) any representation or warranty made or deemed made by or on behalf of the Company
or any Subsidiary in or in connection with any Loan Document or any amendment or
modification thereof or waiver thereunder, or any report, certificate, financial statement
or other document furnished pursuant to or in connection with any Loan Document or any
amendment or modification thereof or waiver thereunder, shall prove to have been incorrect
in any material respect when made or deemed made;

(d) the Company or any Borrower shall fail to observe or perform any covenant,
condition or agreement contained in Section 5.02, 5.03 (with respect to the existence of
any Borrower), 5.06, 5.08 or 5.09 or in Article VI;

(e) any Loan Party shall fail to observe or perform any covenant, condition or
agreement contained in any Loan Document (other than those specified in
clause (a), (b) or (d) of this Article), and such failure shall continue unremedied
for a period of 30 days after notice thereof from the Administrative Agent to the Company
(which notice will be given at the request of any Lender);

 

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(f) the Company or any Subsidiary shall fail to make any payment (whether of
principal or interest and regardless of amount) in respect of any Material Indebtedness,
when and as the same shall become due and payable prior to the expiration of any grace
period applicable to such payment;

(g) any event or condition occurs that results in any Material Indebtedness becoming
due prior to its scheduled maturity or that enables or permits the holder or holders of any
Material Indebtedness or any trustee or agent on its or their behalf to cause any Material
Indebtedness to become due, or to require the prepayment, repurchase, redemption or
defeasance thereof, prior to its scheduled maturity, or there shall occur any default,
event of default, event of termination or other event that results in, or entitles any
person other than the Company or a Subsidiary to cause, the acceleration of any
Indebtedness, or the termination of the purchase of accounts receivable, under any
Securitization; provided that this clause (g) shall not apply to secured Indebtedness that
becomes due as a result of the voluntary sale or transfer of the property or assets
securing such Indebtedness;

(h) an involuntary proceeding shall be commenced or an involuntary petition shall be
filed seeking (i) liquidation, reorganization or other relief in respect of any Borrower or
any other Significant Subsidiary or its debts, or of a substantial part of its assets,
under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now
or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian,
sequestrator, conservator or similar official for any Borrower or any other Significant
Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding
or petition shall continue undismissed for 60 days or an order or decree approving or
ordering any of the foregoing shall be entered;

(i) any Borrower or any other Significant Subsidiary shall (i) voluntarily commence
any proceeding or file any petition seeking liquidation, reorganization or other relief
under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now
or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely
and appropriate manner, any proceeding or petition described in clause (h) of this Article,
(iii) apply for or consent to the appointment of a receiver, trustee, custodian,
sequestrator, conservator or similar official for any Borrower or any other Significant
Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the
material allegations of a petition filed against it in any such proceeding, (v) make a
general assignment for the benefit of creditors or (vi) take any action for the purpose of
effecting any of the foregoing;

(j) any Borrower or any other Significant Subsidiary shall become unable, admit in
writing its inability or fail generally to pay its debts as they become due;

(k) one or more judgments for the payment of money in an aggregate amount in excess
of US$50,000,000 which is not paid or fully covered by insurance shall be rendered against
any Borrower, any other Significant Subsidiary, any Designated Subsidiary or any
combination thereof and the same shall remain undischarged for a period of 30 consecutive
days during which execution shall not be effectively stayed, or any action shall be legally
taken by a judgment creditor to attach or levy upon any assets
of the Borrower or any other Significant Subsidiary or any Designated Subsidiary to
enforce any such judgment;

 

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(l) an ERISA Event shall have occurred that, in the opinion of the Required Lenders,
when taken together with all other ERISA Events that have occurred, could reasonably be
expected to result in liability of the Borrowers, the Significant Subsidiaries and the
Designated Subsidiaries in an aggregate amount exceeding US$50,000,000;

(m) except as provided in Section 11.14 or 11.16, any Guarantee under any Loan
Document or any other guarantee agreement entered into pursuant to Section 6.01(a) shall
cease to be, or shall be asserted by any Loan Party not to be, a valid, binding and
enforceable obligation of the Company or the applicable Designated Subsidiary;

(n) a Change in Control shall occur;

then, and in every such event (other than an event with respect to any Borrower described in clause
(h) or (i) of this Article), and at any time thereafter during the continuance of such event, the
Administrative Agent may, and at the request of the Required Lenders shall, by notice to the
Company, take either or both of the following actions, at the same or different times: (i)
terminate the Commitments, and thereupon the Commitments shall terminate immediately and (ii)
declare the Loans and all payment obligations of the Borrowers in respect of B/As then outstanding
to be due and payable in whole (or in part, in which case any principal not so declared to be due
and payable may thereafter be declared to be due and payable), and thereupon the principal of the
Loans and all payment obligations of the Borrowers in respect of B/As so declared to be due and
payable, together with accrued interest thereon and all fees and other obligations of the Borrowers
accrued hereunder, shall become due and payable immediately, without presentment, demand, protest
or other notice of any kind, all of which are hereby waived by the Borrowers; and in case of any
event with respect to any Borrower described in clause (h) or (i) of this Article, the Commitments
shall automatically terminate and the principal of the Loans and all payment obligations of the
Borrowers in respect of B/As then outstanding, together with accrued interest thereon and all fees
and other obligations of the Borrowers accrued hereunder, shall automatically become due and
payable, without presentment, demand, protest or other notice of any kind, all of which are hereby
waived by the Borrowers.

ARTICLE VIII

The Administrative Agent

Each of the Lenders and Issuing Banks hereby irrevocably appoints the Administrative Agent as
its agent and authorizes the Administrative Agent to take such actions on its behalf and to
exercise such powers as are delegated to the Administrative Agent by the terms of the Loan
Documents, together with such actions and powers as are reasonably incidental thereto.

Any Person serving as the Administrative Agent hereunder shall have the same rights and powers
in its capacity as a Lender as any other Lender and may exercise the same as though it were not the
Administrative Agent, and such Person and its Affiliates may accept deposits from, lend money to
and generally engage in any kind of business with the Company or any Subsidiary or other Affiliate
thereof as if it were not the Administrative Agent hereunder.

 

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The Administrative Agent shall not have any duties or obligations except those expressly set
forth in the Loan Documents. Without limiting the generality of the foregoing, (a)
the Administrative Agent shall not be subject to any fiduciary or other implied duties,
regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall
not have any duty to take any discretionary action or exercise any discretionary powers, except
discretionary rights and powers expressly contemplated by the Loan Documents that the
Administrative Agent is required to exercise in writing as directed by the Required Lenders (or
such other number or percentage of the Lenders as shall be necessary under the circumstances as
provided in Section 11.02) and (c) except as expressly set forth in the Loan Documents, the
Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure
to disclose, any information relating to the Company or any of the Subsidiaries that is
communicated to or obtained by it or any of its Affiliates in any capacity. The Administrative
Agent shall not be liable for any action taken or not taken by it with the consent or at the
request of the Required Lenders (or such other number or percentage of the Lenders as shall be
necessary under the circumstances as provided in Section 11.02) or in the absence of its own gross
negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge
of any Default unless and until written notice thereof is given to the Administrative Agent by the
Company or a Lender, and the Administrative Agent shall not be responsible for or have any duty to
ascertain or inquire into (i) any statement, warranty or representation made in or in connection
with any Loan Document, (ii) the contents of any certificate, report or other document delivered
thereunder or in connection therewith, (iii) the performance or observance of any of the covenants,
agreements or other terms or conditions set forth in any Loan Document, (iv) the validity,
enforceability, effectiveness or genuineness of any Loan Document or any other agreement,
instrument or document or (v) the satisfaction of any condition set forth in Article IV or
elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be
delivered to the Administrative Agent.

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

The Administrative Agent may perform any and all of its duties and exercise its rights and
powers by or through any one or more sub-agents appointed by it. The Administrative Agent and any
such sub-agent may perform any and all its duties and exercise its rights and powers through its
respective Related Parties, including through its Toronto or London branches, as applicable. The
exculpatory provisions of the preceding paragraphs and the provisions of Section 11.03 shall apply
to any such sub-agent and to the Related Parties of the Administrative Agent and any such
sub-agent, and shall apply to their respective activities in connection with the syndication of the
credit facilities provided for herein as well as activities as Administrative Agent.

 

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Subject to the appointment and acceptance of a successor Administrative Agent as provided in
this paragraph, the Administrative Agent may resign at any time by notifying the Lenders, the
Issuing Banks and the Company. Upon any such resignation, the Required Lenders (in the case of a
resignation by the Administrative Agent) shall have the right to appoint a successor, subject
(except during the existence of an Event of Default) to the approval of the Company. If no
successor Administrative Agent shall have been so appointed and shall have accepted such
appointment within 30 days after the retiring Administrative Agent gives notice of its resignation,
then the retiring Administrative Agent may, on behalf of the Lenders and the Issuing Banks, appoint
a successor Administrative Agent which shall be a bank with an office in
New York, New York, or an Affiliate of any such bank, that is reasonably acceptable to the
Company. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor,
such successor shall succeed to and become vested with all the rights, powers, privileges and
duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be
discharged from its duties and obligations hereunder. The fees payable by the Company to a
successor Administrative Agent shall be the same as those payable to its predecessor unless
otherwise agreed between the Company and such successor. After an Administrative Agent’s
resignation hereunder, the provisions of this Article and Section 11.03 shall continue in effect
for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related
Parties in respect of any actions taken or omitted to be taken by any of them while it was acting
as Administrative Agent.

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

The parties agree that none of the Lead Arrangers and Joint Bookrunners, the Syndication
Agents or the Documentation Agents named on the cover page of this Agreement shall, in such
capacities, have any powers, duties or responsibilities under this Agreement or any other Loan
Document.

ARTICLE IX

Collection Allocation Mechanism

On the CAM Exchange Date, (a) the Commitments shall automatically and without further act be
terminated as provided in Article VII, (b) each Lender shall become obligated to fund, within one
Business Day, all participations in outstanding Swingline Loans held by it (it being agreed that
the CAM Exchange shall not result in a reallocation of such funding obligations, but only of the
funded participations resulting therefrom) and (c) the Lenders shall automatically and without
further act be deemed to have made reciprocal purchases of interests in the Designated Obligations
such that, in lieu of the interests of each Lender in the particular Designated Obligations that it
shall own as of such date and immediately prior to the CAM Exchange, such Lender shall own an
interest equal to such Lender’s CAM Percentage in each Designated Obligation. Each Lender, each
person acquiring a participation from any Lender as contemplated by Section 11.04 and each Borrower
hereby consents and agrees to the CAM Exchange. Each Borrower and each Lender agrees from time to
time to execute and deliver to the Administrative Agent all such promissory notes and other
instruments and documents as the Administrative Agent shall reasonably request to evidence and
confirm the respective interests and obligations of the Lenders after giving effect to the CAM
Exchange, and each Lender agrees to surrender any promissory notes originally received by it
hereunder to the Administrative Agent against delivery of any promissory notes so executed and
delivered; provided that the failure of any Borrower to execute or deliver or of any Lender to
accept any such promissory note, instrument or document shall not affect the validity or
effectiveness of the CAM Exchange.

 

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As a result of the CAM Exchange, on and after the CAM Exchange Date, each payment received by
the Administrative Agent pursuant to any Loan Document in respect of the Designated Obligations
shall be distributed to the Lenders pro rata in accordance with their respective
CAM Percentages (to be redetermined as of each such date of payment or distribution to the extent
required by the next paragraph), but giving effect to assignments after the CAM Exchange Date, it
being understood that nothing herein shall be construed to prohibit the assignment of a
proportionate part of all an assigning Lender’s rights and obligations in respect of a single Class
of Commitments or Loans.

In the event that, after the CAM Exchange, the aggregate amount of the Designated Obligations
shall change as a result of the making of an LC Disbursement of either Tranche by an Issuing Bank
that is not reimbursed by the applicable Borrower, then (a) each Lender of such Tranche shall, in
accordance with Section 2.05(d), promptly purchase from the applicable Issuing Bank a participation
in such LC Disbursement in the amount of such Lender’s Tranche One Percentage or Tranche Two
Percentage, as the case may be, of such LC Disbursement (without giving effect to the CAM
Exchange), (b) the Administrative Agent shall redetermine the CAM Percentages after giving effect
to such LC Disbursement and the purchase of participations therein by the applicable Lenders, and
the Lenders shall automatically and without further act be deemed to have made reciprocal purchases
of interests in the Designated Obligations such that each Lender shall own an interest equal to
such Lender’s CAM Percentage in each of the Designated Obligations and (c) in the event
distributions shall have been made in accordance with the preceding paragraph, the Lenders shall
make such payments to one another as shall be necessary in order that the amounts received by them
shall be equal to the amounts they would have received had each LC Disbursement been outstanding
immediately prior to the CAM Exchange. Each such redetermination shall be binding on each of the
Lenders and their successors and assigns and shall be conclusive absent manifest error.

ARTICLE X

Guarantee

In order to induce the Lenders to extend credit hereunder, the Company hereby irrevocably and
unconditionally guarantees, as a primary obligor and not merely as a surety, the payment when and
as due of the Obligations. The Company further agrees that the due and punctual payment of such
Obligations may be extended or renewed, in whole or in part, without notice to or further assent
from it, and that it will remain bound upon its guarantee hereunder notwithstanding any such
extension or renewal of any such Obligation.

The Company waives presentment to, demand of payment from and protest to any Borrower or other
obligor of any of the Obligations, and also waives notice of acceptance of its obligations and
notice of protest for nonpayment. The obligations of the Company hereunder shall not be affected
by (a) the failure of the Administrative Agent or any Lender to assert any claim or demand or to
enforce any right or remedy against any Loan Party under the provisions of this Agreement, any
other Loan Document or otherwise, (b) any extension or renewal of any of the Obligations, (c) any
rescission, waiver, amendment or modification of, or release from, any of the terms or provisions
of this Agreement, or any other Loan Document or agreement, (d) any default, failure or delay,
willful or otherwise, in the performance of any of the Obligations, (e) any decree or order, or any
law or regulation of any jurisdiction or event affecting any term of an Obligation or (f) any other
act, omission or delay to do any other act which may or might in any manner or to any extent vary
the risk of the Company or otherwise operate as a discharge of a guarantor as a matter of law or
equity or which would impair or eliminate any right of the Company to
subrogation or any other circumstance that might constitute a defense of the Company or any
other Borrower or obligor, and any defense arising from the foregoing is hereby waived.

 

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The Company further agrees that its agreement hereunder constitutes a guarantee of payment
when due (whether or not any bankruptcy or similar proceeding shall have stayed the accrual or
collection of any of the Obligations or operated as a discharge thereof) and not merely of
collection, and waives any right to require that any resort be had by the Administrative Agent or
any Lender to any balance of any deposit account or credit on the books of the Administrative Agent
or any Lender in favor of any Borrower or any other Person.

The obligations of the Company hereunder shall not be subject to any reduction, limitation,
impairment or termination for any reason (other than the indefeasible payment in full of all the
Obligations), and any defense or set-off, counterclaim, recoupment or termination whatsoever, by
reason of the invalidity, illegality or unenforceability of any of the Obligations, any
impossibility in the performance of any of the Obligations or otherwise (other than for the
indefeasible payment in full of all the Obligations) is hereby waived.

The Company further agrees that its obligations hereunder shall continue to be effective or be
reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is
rescinded or must otherwise be restored by the Administrative Agent or any Lender upon the
bankruptcy or reorganization of any Borrower or other obligor or otherwise.

In furtherance of the foregoing and not in limitation of any other right, the Administrative
Agent or any Lender may have at law or in equity against the Company by virtue hereof, upon the
failure of any other Borrower or other obligor to pay any Obligation when and as the same shall
become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, the
Company hereby promises to and will, upon receipt of written demand by the Administrative Agent or
any Lender, forthwith pay, or cause to be paid, to the Administrative Agent or Lender in cash an
amount equal to the unpaid principal amount of such Obligation then due, together with accrued and
unpaid interest thereon. The Company further agrees that if payment in respect of any Obligation
shall be due in a currency other than US Dollars and/or at a place of payment other than New York
and if, by reason of any Change in Law, disruption of currency or foreign exchange markets, war or
civil disturbance or other event, payment of such Obligation in such currency or at such place of
payment shall be impossible or, in the reasonable judgment of the Administrative Agent or any
Lender, not consistent with the protection of its rights or interests, then, at the election of the
Administrative Agent, the Company shall make payment of such Obligation in US Dollars (based upon
the applicable Exchange Rate in effect on the date of payment) and/or in New York, and shall
indemnify the Administrative Agent and each Lender against any losses or reasonable out-of-pocket
expenses that it shall sustain as a result of such alternative payment.

Upon payment by the Company of any sums as provided above, all rights of the Company against
any Borrower or other obligor arising as a result thereof by way of right of subrogation or
otherwise shall in all respects be subordinated and junior in right of payment to the prior
indefeasible payment in full of all the Obligations owed by such Borrower or other obligor to the
Administrative Agent, the Issuing Bank and the Lenders.

 

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ARTICLE XI

Miscellaneous

SECTION 11.01. Notices. (a) Except in the case of notices and other communications
expressly permitted to be given by telephone, all notices and other communications provided for
herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by
certified or registered mail or sent by telecopy, as follows:

(i) if to the Company, to it at 1300 Morris Drive, Suite 100, Chesterbrook, PA 19087,
Attention of J.F. Quinn (Telecopy No. (610) 727-3639), with a copy to the Company,
Attention of General Counsel;

(ii) if to any Borrower (other than the Company), to it in care of the Company as
provided in clause (i) above;

(iii) if to the Administrative Agent, JPMCB, in its capacity as a Swingline Lender or
JPMCB, in its capacity as Issuing Bank, as follows: (a) if such notice relates to a Loan or
Borrowing denominated in US Dollars or to a Letter of Credit, or does not relate to any
particular Loan, Borrowing or Letter of Credit, to JPMorgan Chase Bank, N.A., Loan and
Agency Services Group, 1111 Fannin, Floor 10, Houston, TX 77002, United States, Attention
of John Ngo (Telecopy No. (713) 374-4312) with a copy to JPMorgan Chase Bank, N.A., 383
Madison Avenue, Floor 24, New York, New York 10179, United States, Attention of Vanessa
Chiu (Telecopy No. (646) 534-0574), (b) if such notice relates to a Loan or Borrowing
denominated in Canadian Dollars, to JPMorgan Chase Bank, N.A., Loan and Agency Services
Group, 1111 Fannin, Floor 10, Houston, TX 77002, United States, Attention of Carla Kinney
(Telecopy No. (713) 374-4312) with a copy to JPMorgan Chase Bank, N.A., 383 Madison Avenue,
Floor 24, New York, New York 10179, United States, Attention of Vanessa Chiu (Telecopy No.
(646) 534-0574) and (c) if such notice relates to a Loan or Borrowing denominated in Euro,
Sterling or a Designated Currency, to J.P. Morgan Europe Limited, 125 London Wall, London,
EC2Y-5AJ, United Kingdom, Attention of The Manager, Loan & Agency Services (Telecopy No. 44
(0) 207 777 2360) with a copy to JPMorgan Chase Bank, N.A., 383 Madison Avenue, New York,
New York 10179, Attention of Vanessa Chiu (Telecopy No. (646) 534-0574);

(iv) if to any other Issuing Bank or Lender, to it at its address (or telecopy
number) set forth in its Administrative Questionnaire.

(b) Notices and other communications to the Lenders hereunder may be delivered or furnished
by electronic communications pursuant to procedures approved by the Administrative Agent; provided
that the foregoing shall not apply to notices pursuant to Article II unless otherwise agreed by the
Administrative Agent and the applicable Lender. The Administrative Agent or any Borrower may, in
its discretion, agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it; provided that approval of such procedures may
be limited to particular notices or communications.

(c) Any party hereto may change its address or telecopy number for notices and other
communications hereunder by notice to the other parties hereto. All notices and other
communications given to any party hereto in accordance with the provisions of this Agreement shall
be deemed to have been given on the date of receipt.

 

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SECTION 11.02. Waivers; Amendments. (a) No failure or delay by the Administrative
Agent, any Issuing Bank or any Lender in exercising any right or power hereunder or under any other
Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any
such right or power, or any abandonment or discontinuance of steps to enforce such a right or
power, preclude any other or further exercise thereof or the exercise of any other right or power.
The rights and remedies of the Administrative Agent, the Issuing Banks and the Lenders hereunder
and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies
that they would otherwise have. No waiver of any provision of any Loan Document or consent to any
departure by any Loan Party therefrom shall in any event be effective unless the same shall be
permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only
in the specific instance and for the purpose for which given. Without limiting the generality of
the foregoing, the making of a Loan, acceptance and purchase of a B/A or issuance of a Letter of
Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative
Agent, any Lender or any Issuing Bank may have had notice or knowledge of such Default at the time.

(b) None of this Agreement, any Loan Document or any provision hereof or thereof may be
waived, amended or modified except, in the case of this Agreement, pursuant to an agreement or
agreements in writing entered into by the Company and the Required Lenders or, in the case of any
other Loan Document, pursuant to an agreement or agreements in writing entered into by the
Administrative Agent and the Loan Party or Loan Parties that are parties thereto, in each case with
the consent of the Required Lenders; provided that no such agreement shall (i) increase any
Commitment of any Lender without the written consent of such Lender, (ii) reduce the principal
amount of any Loan, payment obligation in respect of a B/A or LC Disbursement or reduce the rate of
interest thereon, or reduce any fees payable hereunder, without the written consent of each Lender
affected thereby, (iii) postpone the maturity of any Loan or B/A, or the required date of
reimbursement of any LC Disbursement, or any date for the payment of any interest or fees payable
hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled
date of expiration of any Commitment, without the written consent of each Lender affected thereby,
(iv) change Section 2.18(b) or (c) in a manner that would alter the pro rata
sharing of payments required thereby, without the written consent of each Lender, (v) change any of
the provisions of this Section or the percentage set forth in the definition of “Required Lenders”
or any other provision of any Loan Document specifying the number or percentage of Lenders (or
Lenders of any Class) required to waive, amend or modify any rights thereunder or make any
determination or grant any consent thereunder, without the written consent of each Lender (or each
Lender of such Class, as the case may be), (vi) release the Company from its Guarantee under
Article X, or release any Subsidiary from its Guarantee under the Guarantee Agreement or any other
guarantee agreement entered into pursuant to Section 6.01(a) (except as expressly provided in this
Agreement or the Guarantee Agreement), or limit the liability of the Company or any Subsidiary in
respect of any such Guarantee, without the written consent of each Lender or (vii) change any
provision of any Loan Document in a manner that by its terms adversely affects the rights in
respect of payments or prepayments due to Lenders with Commitments or Obligations of any Class
differently than those with Commitments or Obligations of any other Class, without the written
consent of Lenders holding a majority in interest of the Commitments and outstanding Loans and B/As
of the adversely affected Class; provided further that (A) no such agreement shall amend, modify or
otherwise affect the rights or duties of the Administrative Agent, any Issuing Bank or Swingline
Lender without the prior written consent of such Agent, Issuing Bank or Swingline Lender, as the
case may be, and (B) any waiver, amendment or modification of this Agreement that by its terms
affects the rights or duties under this Agreement of Lenders under one Tranche (but not of Lenders
under the other Tranche) may be effected by an agreement or agreements in writing entered into by
the Company and requisite
percentage in interest of the Lenders under the affected Tranche. Notwithstanding the
foregoing, any provision of this Agreement may be amended by an agreement in writing entered into
by the Company, the Required Lenders and the Administrative Agent (and, if their rights or
obligations are affected thereby, the Issuing Banks and the Swingline Lenders) if (1) by the terms
of such agreement the Commitments of each Lender not consenting to the amendment provided for
therein shall terminate upon the effectiveness of such amendment and (2) at the time such amendment
becomes effective, each Lender not consenting thereto receives payment in full of the principal of
and interest accrued on each Loan made and B/A accepted by it and all other amounts owing to it or
accrued for its account under this Agreement.

 

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SECTION 11.03. Expenses; Indemnity; Damage Waiver. (a) The Company shall pay (i)
all reasonable out-of-pocket expenses incurred by the Administrative Agent, the Arrangers and their
Affiliates, including the reasonable fees, charges and disbursements of outside counsel for the
Administrative Agent, the Arrangers and their Affiliates, in connection with the structuring,
arrangement and syndication of the credit facilities provided for herein, the preparation and
administration of the Loan Documents or any amendments, modifications or waivers of the provisions
thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii)
all reasonable out-of-pocket expenses incurred by the Issuing Banks in connection with the
issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment
thereunder and (iii) all out-of-pocket expenses incurred by the Administrative Agent or any
Arranger, Issuing Bank or Lender, including the fees, charges and disbursements of any outside
counsel for the Administrative Agent or such Arranger, Issuing Bank or Lender, in connection with
the enforcement or protection of its rights in connection with the Loan Documents, including its
rights under this Section, or in connection with the Loans made, the B/As accepted and purchased or
the Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during
any workout, restructuring or negotiations in respect of such Loans, B/As or Letters of Credit.

(b) The Company shall indemnify the Administrative Agent, each Arranger, Issuing Bank and
Lender, and each Related Party of any of the foregoing Persons (each such Person being called an
"Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages,
penalties, liabilities and related expenses, including the reasonable fees, charges and
disbursements of any outside counsel for any Indemnitee, incurred by or asserted against any
Indemnitee arising out of, in connection with, or as a result of (i) the structuring, arrangement
and syndication of the credit facilities provided for herein, (ii) the execution or delivery of any
Loan Document or any other agreement or instrument contemplated hereby, the performance by the
parties to the Loan Documents of their respective obligations thereunder or the consummation of the
Transactions or any other transactions contemplated hereby, (iii) any Loan, B/A or Letter of Credit
or the use of the proceeds therefrom (including any refusal by an Issuing Bank to honor a demand
for payment under a Letter of Credit if the documents presented in connection with such demand do
not strictly comply with the terms of such Letter of Credit), (iv) any Environmental Liability
related in any way to the Company or any of the Subsidiaries or (v) any actual or prospective
claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on
contract, tort or any other theory and regardless of whether initiated by any Indemnitee or a third
party or whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to
any Indemnitee, be available to the extent that such losses, claims, damages, penalties,
liabilities or related expenses are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from (A) the gross negligence or willful misconduct of such
Indemnitee or (B) the breach by such Indemnitee in bad faith of its obligations under the Loan
Documents.

 

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(c) To the extent that the Company fails to pay any amount required to be paid by it to the
Administrative Agent or any Issuing Bank or Swingline Lender under paragraph (a) or (b) of this
Section, each Lender severally agrees to pay to the Administrative Agent, such Issuing Bank or
Swingline Lender, as the case may be, such Lender’s pro rata share (determined as
of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid
amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or
related expense, as the case may be, was incurred by or asserted against the Administrative Agent,
such Issuing Bank or Swingline Lender in its capacity as such. For purposes hereof, a Lender’s
“pro rata share” shall be determined based upon its share of the sum of the
aggregate Revolving Credit Exposures and unused Commitments at the time.

(d) To the extent permitted by applicable law, the Borrowers shall not assert, and hereby
waive, any claim against any Indemnitee, on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages) arising out of, in
connection with, or as a result of, this Agreement or any agreement or instrument contemplated
hereby, the Transactions, any Loan, B/A or Letter of Credit or the use of the proceeds thereof.

(e) All amounts due under this Section shall be payable promptly after written demand
therefor.

SECTION 11.04. Successors and Assigns. (a) The provisions of this Agreement shall
be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby (including any Affiliate of any Issuing Bank that issues any Letter of
Credit), except that the Borrowers may not assign or otherwise transfer any of their rights or
obligations hereunder without the prior written consent of each Lender (and any attempted
assignment or transfer by any Borrower without such consent shall be null and void). Nothing in
this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their respective successors and assigns permitted hereby (including any Affiliate
of any Issuing Bank that issues any Letter of Credit) and, to the extent expressly contemplated
hereby, the Related Parties of each of the Administrative Agent, the Issuing Banks and the Lenders)
any legal or equitable right, remedy or claim under or by reason of this Agreement.

(b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may
assign to one or more assignees all or a portion of its rights and obligations under this Agreement
(including all or a portion of its Commitments under any Tranche and the Loans and other amounts at
the time owing to it under any Tranche) with the prior written consent (such consent not to be
unreasonably withheld) of:

(A) the Company; provided that (x) no consent of the Company shall be required for an
assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of
Default has occurred and is continuing, any other assignee, and (y) the Company shall be
deemed to have consented to any such assignment unless it shall object thereto by written
notice to the Administrative Agent within five Business Days after having received notice
thereof;

 

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(B) the Administrative Agent; and

(C) each Issuing Bank.

(ii) Assignments shall be subject to the following additional conditions:

(A) except in the case of an assignment to a Lender or an Affiliate of a Lender or an
assignment of the entire remaining amount of any Commitment of the assigning Lender, the
amount of each Commitment of the assigning Lender subject to each such assignment
(determined as of the date the Assignment and Assumption with respect to such assignment is
delivered to the Administrative Agent) shall not be less than US$5,000,000 unless each of
the Company and the Administrative Agent shall otherwise consent; provided that no such
consent of the Company shall be required if an Event of Default has occurred and is
continuing;

(B) each partial assignment of a Commitment and extensions of credit under a Tranche
shall be made as an assignment of a proportionate part of all the assigning Lender’s rights
and obligations under such Tranche;

(C) the parties to each assignment shall execute and deliver to the Administrative
Agent an Assignment and Assumption, together with a processing and recordation fee of
$3,500; and

(D) the assignee, if it shall not be a Lender, shall deliver to the Administrative
Agent an Administrative Questionnaire in which the assignee designates one or more credit
contacts to whom all syndicate-level information (which may contain material non-public
information about the Borrowers and their Related Parties or their securities) will be made
available and who may receive such information in accordance with the assignee’s compliance
procedures and applicable laws, including Federal, State and foreign securities laws.

For purposes of this Section, the term “Approved Fund” means any Person (other than a natural
person) that is engaged in making, purchasing, holding or investing in bank loans and similar
extensions of credit in the ordinary course of its business and that is administered or managed by
a Lender, an Affiliate of a Lender or an entity or an Affiliate of an entity that administers or
manages a Lender.

(c) Subject to acceptance and recording thereof pursuant to paragraph (e) of this Section,
from and after the effective date specified in each Assignment and Assumption, the assignee
thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment
and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning
Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption,
be released from its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such
Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of
Sections 2.15, 2.16, 2.17 and 11.03). Any assignment or transfer by a Lender of rights or
obligations under this Agreement that does not comply with this paragraph shall be treated for
purposes of this Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with paragraph (f) of this Section.

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

 

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(e) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning
Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee
shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph
(b) of this Section and any written consent to such assignment required by paragraph (b) of this
Section, the Administrative Agent shall accept such Assignment and Assumption and record the
information contained therein in the Register. No assignment shall be effective for purposes of
this Agreement unless it has been recorded in the Register as provided in this paragraph.
Following the effectiveness of any assignment, the Administrative Agent shall, if so requested,
cause promissory notes reflecting such assignment to be issued to the Assignee and, if applicable,
to the Assignor, upon cancellation of any existing promissory notes originally issued to the
Assignor.

(f) Any Lender may, without the consent of the Company, the Administrative Agent, the Issuing
Banks or any other Lender, sell participations to one or more banks or other entities (each a
"Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement
(including all or a portion of its Commitments and its Loans and other extensions of credit
hereunder); provided that (i) such Lender’s obligations under this Agreement shall remain
unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations and (iii) the Borrowers, the Administrative Agent, the Issuing
Banks and the other Lenders shall continue to deal solely and directly with such Lender in
connection with such Lender’s rights and obligations under this Agreement. Any agreement or
instrument pursuant to which a Lender sells such a participation shall provide that such Lender
shall retain the sole right to enforce the Loan Documents and to approve any amendment,
modification or waiver of any provision of the Loan Documents; provided that such agreement or
instrument may provide that such Lender will not, without the consent of the Participant, agree to
any amendment, modification or waiver described in the first proviso to Section 11.02(b) that
affects such Participant. Each Borrower agrees that each Participant shall be entitled to the
benefits of Sections 2.15, 2.16 and 2.17 (subject to the requirements and limitations therein,
including the requirements under Section 2.17(f) (it being understood that the documentation
required under Section 2.17(f) shall be delivered to the participating Lender)) to the same extent
as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of
this Section; provided that such Participant (A) agrees to be subject to the provisions of Sections
2.18 and 2.19 as if it were an assignee under paragraph (b) of this Section; and (B) shall not be
entitled to receive any greater payment under Sections 2.15 or 2.17, with respect to any
participation, than its participating Lender would have been entitled to receive, except to the
extent such entitlement to receive a greater payment results from a Change in Law that occurs after
the Participant acquired the applicable participation. To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 11.08 as though it were a Lender;
provided such Participant agrees to be subject to Section 2.18(c) as though it were a Lender. Each
Lender that sells a participation shall, acting solely for this purpose as an agent of the
Borrower, maintain a register on which it enters the name and address of each Participant and the
principal amounts (and stated interest) of each Participant’s interest in the Loans or other
obligations under this Agreement (the “Participant Register”); provided no Lender shall have any
obligation to disclose all or any portion of the Participant Register to any Person (including the
identity of any Participant or any information relating to a Participant’s interest in any
Commitments, Loans, Letters of Credit or its other obligations under this Agreement) except to the
extent that such disclosure is necessary to establish that such Commitment, Loan, Letter of Credit
or other obligation is in registered form
under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the
Participant Register shall be conclusive absent manifest error, and such Lender shall treat each
person whose name is recorded in the Participant Register as the owner of such participation for
all purposes of this Agreement notwithstanding any notice to the contrary.

 

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(g) Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement to secure obligations of such Lender, including any pledge or
assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any
such pledge or assignment of a security interest; provided that no such pledge or assignment of a
security interest shall release a Lender from any of its obligations hereunder or substitute any
such pledgee or assignee for such Lender as a party hereto.

(h) Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Bank”)
may grant to a special purpose funding vehicle (an “SPC”) of such Granting Bank, identified as such
in writing from time to time by the Granting Bank to the Administrative Agent and the Company, the
option to provide to any Borrower all or any part of any Loan that such Granting Bank would
otherwise be obligated to make to such Borrower pursuant to Section 2.01; provided that (i) nothing
herein shall constitute a commitment to make any Loan by any SPC, (ii) if an SPC elects not to
exercise such option or otherwise fails to provide all or any part of such Loan, the Granting Bank
shall be obligated to make such Loan pursuant to the terms hereof, (iii) all amounts payable by any
Borrower to any SPC hereunder in respect of any Loan and the applicability of the cost protection
provisions contained in Section 2.15, 2.16 and 2.17 shall be determined as if the Granting Bank had
made such Loan and (iv) any notices given by the Administrative Agent, the Borrowers and the other
Lenders with respect to any Loan provided by an SPC may be given to the Granting Bank and the
Granting Bank shall have the authority to act on behalf of the SPC with respect to such Loans
and/or notices. The making of Loans and other extensions of credit by an SPC hereunder shall be
deemed to utilize the Commitments of the Granting Bank to the same extent, and as if, such Loans
and other extensions of credit were made by the Granting Bank. Each party hereto hereby agrees
that no SPC shall be liable for any payment under this Agreement for which a Lender would otherwise
be liable, for so long as, and to the extent, the related Granting Bank makes such payment. In
furtherance of the foregoing, each party hereto hereby agrees that, prior to the date that is one
year and one day after the payment in full of all outstanding senior indebtedness of any SPC, it
will not institute against, or join any other person in instituting against, such SPC any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or similar
proceedings under the laws of the United States or any State thereof. In addition, notwithstanding
anything to the contrary contained in this Section, any SPC may assign all or a portion of its
interests in any Loans and other extensions of credit to its Granting Bank or to any financial
institutions providing liquidity and/or credit facilities to or for the account of such SPC to fund
the Loans and other extensions of credit made by such SPC or to support the securities (if any)
issued by such SPC to fund such Loans and other extensions of credit.

SECTION 11.05. Survival. All covenants, agreements, representations and warranties
made by the Loan Parties in the Loan Documents and in the certificates or other instruments
delivered in connection with or pursuant to this Agreement or any other Loan Document shall be
considered to have been relied upon by the other parties hereto and shall survive the execution and
delivery of the Loan Documents and the making of any Loans, the acceptance and purchase of any B/As
and the issuance of any Letters of Credit, regardless of any investigation made by any such other
party or on its behalf and notwithstanding that the Administrative Agent, any Issuing Bank or any
Lender may have had notice or knowledge of any Default or incorrect representation or warranty at
the time any credit is extended hereunder, and shall continue in full
force and effect as long as the principal of or any accrued interest on any Loan or any fee or
any other amount payable under this Agreement is outstanding and unpaid or any Letter of Credit is
outstanding and so long as the Commitments have not expired or terminated. The provisions of
Sections 2.15, 2.16, 2.17 and 11.03 and Article VIII shall survive and remain in full force and
effect regardless of the consummation of the transactions contemplated hereby, the repayment of the
Loans and B/As, the expiration or termination of the Letters of Credit and the Commitments or the
termination of this Agreement or any provision hereof.

 

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SECTION 11.06. Counterparts; Integration; Effectiveness. This Agreement may be
executed in counterparts (and by different parties hereto on different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single
contract. This Agreement, the other Loan Documents and any separate letter agreements with respect
to fees payable to the Administrative Agent or to the Arrangers and their Affiliates constitute the
entire contract among the parties relating to the subject matter hereof and supersede any and all
previous agreements and understandings, oral or written, relating to the subject matter hereof.
Except as provided in Section 4.01, this Agreement shall become effective when it shall have been
executed by the Administrative Agent and when the Administrative Agent shall have received
counterparts hereof which, when taken together, bear the signatures of each of the other parties
hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns. Delivery of an executed counterpart of a signature page
of this Agreement by facsimile or other electronic imaging means shall be effective as delivery of
a manually executed counterpart of this Agreement.

SECTION 11.07. Severability. Any provision of this Agreement held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions hereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

SECTION 11.08. Right of Setoff. If an Event of Default shall have occurred and be
continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time
to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general
or special, time or demand, provisional or final) at any time held and other obligations at any
time owing by such Lender or Affiliate to or for the credit or the account of the Company or any
Borrower against any of and all the obligations of the Company, whether in its capacity as a
Borrower or guarantor, or any other Borrower now or hereafter existing under this Agreement or any
other Loan Document held by such Lender, irrespective of whether or not such Lender shall have made
any demand under this Agreement and although such obligations may be unmatured. The rights of each
Lender under this Section are in addition to other rights and remedies (including other rights of
setoff) which such Lender may have.

SECTION 11.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This
Agreement shall be construed in accordance with and governed by the law of the State of New York.

(b) Each Borrower hereby irrevocably and unconditionally submits, for itself and its
property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in
New York County and of the United States District Court of the Southern District of New York, and
any appellate court from any thereof, in any action or proceeding arising out of or relating to any
Loan Document, and each of the parties hereto hereby irrevocably and unconditionally agrees that
all claims in respect of any such action or proceeding may be heard and determined in such
New York State or, to the extent permitted by law, in such Federal court. Each of the parties
hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.
Nothing in this Agreement or any other Loan Document shall affect any right that the Administrative
Agent, any Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating
to this Agreement or any other Loan Document against any Borrower or its properties in the courts
of any jurisdiction.

 

85

 

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

(d) Each Borrowing Subsidiary that is not a US Subsidiary hereby irrevocably designates,
appoints and empowers the Company (with a mandatory copy to the Philadelphia office of Morgan,
Lewis & Bockius LLP, having its address at 1701 Market Street, Philadelphia PA 19103, Attention of
Michael Pedrick, Esq.), as its process agent to receive for and on its behalf service of process in
any legal action or proceeding arising out of or relating to this Agreement. It is understood that
a copy of any such process served on the Company, as process agent, shall be promptly forwarded by
registered mail by the Person commencing such proceeding to such Borrowing Subsidiary at the
address specified in Section 11.01, but the failure of such Borrowing Subsidiary to receive such
copy shall not affect in any way the service of such process as aforesaid.

(e) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 11.01. Nothing in the Agreement or any other Loan Document will
affect the right of any party to this Agreement to serve process in any other manner permitted by
law.

SECTION 11.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN
DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY
OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY
OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT
OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER
PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION.

SECTION 11.11. Headings. Article and Section headings and the Table of Contents used
herein are for convenience of reference only, are not part of this Agreement and shall not affect
the construction of, or be taken into consideration in interpreting, this Agreement.

 

86

 

SECTION 11.12. Confidentiality. The Administrative Agent, each Issuing Bank and each
Lender agrees to maintain the confidentiality of the Information (as defined below), and will not
use such confidential Information for any purpose or in any manner except in connection with this
Agreement, except that Information may be disclosed (a) to its and its Affiliates’
directors, officers, employees and agents, including accountants, legal counsel and other
advisors (it being understood that the Persons to whom such disclosure is made will be informed of
the confidential nature of such Information and instructed to keep such Information confidential),
(b) to the extent requested by any governmental, supervisory or regulatory authority (it being
understood that it will to the extent reasonably practicable provide the Company with an
opportunity to request confidential treatment from such authority), (c) to the extent required by
applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party
to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit,
action or proceeding relating to this Agreement or any other Loan Document or the enforcement of
rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the
same as those of this Section, to (i) any assignee of or Participant in, or any prospective
assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any
actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating
to the Company or any Subsidiary and its obligations, (g) with the written consent of the Company
or (h) to the extent such Information (i) becomes publicly available other than as a result of a
breach of this Section or any other confidentiality agreement to which it is party with the Company
or any Subsidiary or (ii) becomes available to the Administrative Agent, such Issuing Bank or such
Lender on a nonconfidential basis from a source other than the Company. For the purposes of this
Section, “Information” means all confidential information received from the Company relating to the
Company or its businesses, other than any such information that is available to the Administrative
Agent, any Issuing Bank or any Lender on a nonconfidential basis prior to disclosure by the
Company. Any Person required to maintain the confidentiality of Information as provided in this
Section shall be considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such Information as such
Person would accord to its own confidential information.

SECTION 11.13. Interest Rate Limitation. Notwithstanding anything herein to the
contrary, if at any time the interest rate applicable to any extension of credit hereunder,
together with all fees, charges and other amounts which are treated as interest on such extension
of credit under applicable law (collectively the “Charges”), shall exceed the maximum lawful rate
(the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the
Lender that made such extension of credit in accordance with applicable law, the rate of interest
payable in respect of such extension of credit hereunder, together with all Charges payable in
respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and
Charges that would have been payable in respect of such extension of credit but were not payable as
a result of the operation of this Section shall be cumulated and the interest and Charges payable
to such Lender in respect of other extensions of credit or periods shall be increased (but not
above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the
Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender.

SECTION 11.14. Releases of Guarantors. (a) Notwithstanding any contrary provision
herein or in any other Loan Document, if the Company shall request the release under the Guarantee
Agreement of any Guarantor that shall have been sold in or disposed of (or will, simultaneously
with such release, be sold or disposed of) to a Person or Persons (other than the Company and the
Subsidiaries) pursuant to any transaction permitted hereby and shall deliver to the Administrative
Agent a certificate to the effect that such sale complied or will comply with the terms of this
Agreement, the Administrative Agent, if satisfied in its reasonable judgment that the applicable
certificate is correct, shall, without the consent of any Lender, execute and deliver all such
releases and other instruments, and take all such further actions, as shall be necessary to effect
the release of such Guarantor.

(b) Without limiting the provisions of Section 11.03, the Company shall reimburse the
Administrative Agent and the Lenders for all costs and expenses, including attorney’s fees and
disbursements, incurred by any of them in connection with any action contemplated by this Section.

 

87

 

SECTION 11.15. USA PATRIOT Act. Each Lender hereby notifies the Borrowers that
pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law
October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that
identifies the Borrowers, which information includes the names and addresses of the Borrowers and
other information that will allow such Lender to identify the Borrowers in accordance with the Act.

SECTION 11.16. Termination of Guarantee Agreement. Notwithstanding any other
provision of this Agreement, if at any time (a) no Subsidiary shall be liable for the Senior Notes
or any other Material Indebtedness (other than Indebtedness referred to in the first parenthetical
in Section 6.01(a) or in clause (i) or (ii) of Section 6.01(b)), whether as a primary obligor or as
a Guarantor and (b) the Company shall have delivered to the Administrative Agent a certificate
confirming that the condition set forth in the preceding clause (a) shall be satisfied
simultaneously with the termination of the Guarantee Agreement, the Guarantee Agreement shall
automatically terminate without any further action or consent by any party hereto or to the
Guarantee Agreement.

SECTION 11.17. Non-Public Information. (a) Each Lender acknowledges that all
information furnished to it pursuant to this Agreement by the Company or on its behalf and relating
to the Company, the Subsidiaries or their businesses may include material non-public information
concerning the Company and the Subsidiaries or their securities, and confirms that it has developed
compliance procedures regarding the use of material non-public information and that it will handle
such material non-public information in accordance with the procedures and applicable law,
including Federal, state and foreign securities laws.

(b) All such information, including requests for waivers and amendments, furnished by the
Company or the Administrative Agent pursuant to, or in the course of administering, this Agreement
will be syndicate-level information, which may contain material non-public information about the
Company and the Subsidiaries and their securities. Accordingly, each Lender represents to the
Company and the Administrative Agent that it has identified in its Administrative Questionnaire a
credit contact who may receive information that may contain material non-public information in
accordance with its compliance procedures and applicable law, including Federal, state and foreign
securities laws.

SECTION 11.18. No Fiduciary Duty. The Company agrees that in connection with all
aspects of the Transactions and any communications in connection therewith, the Company and its
Affiliates, on the one hand, and the Administrative Agent, the Arrangers, the Issuing Banks, the
Lenders and their Affiliates, on the other hand, will have a business relationship that does not
create, by implication or otherwise, any fiduciary duty on the part of the Administrative Agent,
the Arrangers, the Issuing Banks, the Lenders or their Affiliates, and no such duty will be deemed
to have arisen in connection with any such Transactions or communications.

SECTION 11.19. Conversion of Currencies. (a) If, for the purpose of obtaining
judgment in any court, it is necessary to convert a sum owing hereunder or pursuant to the
Guarantee Agreement in one currency into another currency, each party hereto agrees, to the fullest
extent that it may effectively do so, that the rate of exchange used shall be that at which in
accordance with normal banking procedures in the relevant jurisdiction the first currency
could be purchased with such other currency on the Business Day immediately preceding the day on
which final judgment is given.

 

88

 

(b) The obligations of each party hereto in respect of any sum due to any other party hereto
or any holder of the obligations owing hereunder (the “Applicable Creditor”) shall, notwithstanding
any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is
stated to be due hereunder (the “Agreement Currency”), be discharged only to the extent that, on
the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in
the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in
the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; if the amount
of the Agreement Currency so purchased is less than the sum originally due to the Applicable
Creditor in the Agreement Currency, the Company agrees, as a separate obligation and
notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The
obligations of each party hereto contained in this Section shall survive the termination of this
Agreement and the payment of all other amounts owing hereunder.

SECTION 11.20. Waiver of Notice Period in Connection with Termination of the Existing
Credit Agreement. Each Lender that is a party to the Existing Credit Agreement hereby waives
the prior notice required for the termination of the commitments under the Existing Credit
Agreement.

 

89

 

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

	 	 	 	 	 
	 	AMERISOURCEBERGEN CORPORATION,

 	 
	 	by  	/s/ J. F. Quinn
 	 
	 	 	Name:  	J. F. Quinn 	 
	 	 	Title:  	Vice President & Corporate Treasurer 	 

	 	 	 	 	 
	 	AMERISOURCEBERGEN CANADA CORPORATION,

 	 
	 	by  	/s/ J. F. Quinn
 	 
	 	 	Name:  	J. F. Quinn 	 
	 	 	Title:  	Vice President & Corporate Treasurer 	 

	 	 	 	 	 
	 	AMERISOURCEBERGEN SPECIALTY GROUP 

CANADA CORPORATION,

 	 
	 	by  	/s/ J. F. Quinn
 	 
	 	 	Name:  	J. F. Quinn 	 
	 	 	Title:  	Vice President & Corporate Treasurer 	 
	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

	 	 	 	 	 
	 	BRECON HOLDINGS LIMITED,

 	 
	 	by  	/s/ J. F. Quinn
 	 
	 	 	Name:  	J. F. Quinn 	 
	 	 	Title:  	Vice President & Corporate Treasurer 	 

	 	 	 	 	 
	 	BRECON PHARMACEUTICALS LIMITED,

 	 
	 	by  	/s/ J. F. Quinn
 	 
	 	 	Name:  	J. F. Quinn 	 
	 	 	Title:  	Vice President & Corporate Treasurer 	 

	 	 	 	 	 
	 	INNOMAR STRATEGIES, INC.,

 	 
	 	by  	/s/ J. F. Quinn
 	 
	 	 	Name:  	J. F. Quinn 	 
	 	 	Title:  	Vice President & Corporate Treasurer 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.,
individually 

and as Administrative
Agent, Issuing Bank and Swingline
Lender,

 	 
	 	by  	/s/ Vanessa Chiu
 	 
	 	 	Name:  	Vanessa Chiu 	 
	 	 	Title:  	Executive Director 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	JPMORGAN CHASE BANK, N.A.	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Vanessa Chiu	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Vanessa Chui	 	 
	 

	 	Title:
	 	Executive Director	 	 

For any Lender requiring a second signature line:

	 	 	 	 	 	 	 
	by	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	Bank of America N.A.	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Robert LaPorte	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Robert LaPorte	 	 
	 

	 	Title:
	 	Vice President	 	 

For any Lender requiring a second signature line:

	 	 	 	 	 	 	 
	by	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	Bank of America, N.A. (Canada branch)	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Medina Sales De Andrade	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Medina Sales De Andrade	 	 
	 

	 	Title:
	 	Vice President	 	 

For any Lender requiring a second signature line:

	 	 	 	 	 	 	 
	by	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	WELLS FARGO BANK, NATIONAL ASSOICATION	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Andrea S Chen	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Andrea S Chen	 	 
	 

	 	Title:
	 	Director	 	 

For any Lender requiring a second signature line:

Wells Fargo Financial Corporation Canada

	 	 	 	 	 	 	 
	by	 	/s/ Paul Young	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Paul Young	 	 
	 

	 	Title:
	 	Vice President	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	THE BANK OF NOVA SCOTIA	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Paula Czach	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Paula Czach	 	 
	 

	 	Title:
	 	Managing Director	 	 
	 
	 	 	 	 	 	 
	For any Lender requiring a second signature line:	 	 
	 
	 	 	 	 	 	 
	by	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Brian McNany	 	 
	 	 	 	 	 
	 

	 	Name:
	 	BRIAN MCNANY	 	 
	 

	 	Title:
	 	AUTHORIZED SIGNATORY	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	U.S. BANK NATIONAL ASSOCIATION:	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Jennifer Hwang	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Jennifer Hwang	 	 
	 

	 	Title:
	 	Vice President	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	Citibank, N.A.	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Munira Musadek	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Munira Musadek	 	 
	 

	 	Title:
	 	Vice President	 	 
	 

	 	 	 	(212) 816-8917	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	Citibank, N.A., Canadian branch	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Niyousha Zarinpour	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Niyousha Zarinpour	 	 
	 

	 	Title:
	 	Authorized Signer	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	Mizuho Corporate Bank, Ltd.	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Bertram H. Tang	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Bertram H. Tang	 	 
	 

	 	Title:
	 	Authorized Signatory	 	 
	 
	 	 	 	 	 	 
	For any Lender requiring a second signature line:	 	 
	 
	 	 	 	 	 	 
	by	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	PNC BANK NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Denise D. Killen	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Denise D. Killen	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	PNC Bank Canada Branch.	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Caroline Stade	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Caroline Stade	 	 
	 

	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	For any Lender requiring a second signature line:	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Bill Hines	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Bill Hines	 	 
	 

	 	Title:
	 	Senior Vice President & Principal Officer	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	TD Bank, N.A.	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Marla Willner	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Marla Willner	 	 
	 

	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	For any Lender requiring a second signature line:	 	 
	 
	 	 	 	 	 	 
	by	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	Credit Suisse AG, Cayman Islands Branch	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Ari Bruger	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Ari Bruger	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	For any Lender requiring a second signature line:	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Kevin Buddhdew	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Kevin Buddhdew	 	 
	 

	 	Title:
	 	Associate	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	DEUTSCHE BANK AG NEW YORK BRANCH	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Ming K. Chu	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Ming K. Chu	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	For any Lender requiring a second signature line:	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Heidi Sandquist	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Heidi Sandquist	 	 
	 

	 	Title:
	 	Director	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 	 	 	 	 	 	 
	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	Goldman Sachs Bank USA	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Mark Walton	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Mark Walton	 	 
	 

	 	Title:
	 	Authorized Signatory	 	 
	 
	 	 	 	 	 	 
	For any Lender requiring a second signature line:	 	 
	 
	 	 	 	 	 	 
	by	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

	 
	Name of Institution:

	 	 	 	 	 	 	 
	KEYBANK NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Sukanya V. Raj	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Sukanya V. Raj	 	 
	 

	 	Title:
	 	Vice President & Portfolio Manager	 	 
	 
	 	 	 	 	 	 
	For any Lender requiring a second signature line:	 	 
	 
	 	 	 	 	 	 
	by
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

Name of Institution:

	 	 	 	 	 	 	 
	Sumitomo Mitsui Banking Corporation	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ William M. Ginn	 	 
	 	 	 	 	 
	 

	 	Name:
	 	William M. Ginn	 	 
	 

	 	Title:
	 	Executive Officer	 	 
	 
	 	 	 	 	 	 
	For any Lender requiring a second signature line:	 	 
	 
	 	 	 	 	 	 
	by
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Lender Signature Page to

the AmerisourceBergen Corporation

Credit Agreement

Name of Institution:

	 	 	 	 	 	 	 
	The Bank of New York Mellon	 	 
	 
	 	 	 	 	 	 
	by	 	/s/ Clifford A. Mull	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Clifford A. Mull	 	 
	 

	 	Title:
	 	First Vice President	 	 
	 
	 	 	 	 	 	 
	For any Lender requiring a second signature line:	 	 
	 
	 	 	 	 	 	 
	by
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

SIGNATURE PAGE TO CREDIT AGREEMENT

 

 

 

Schedule 2.01

Commitments

Tranche One

	 	 	 	 	 
	Lender	 	Commitment	 
	JPMorgan Chase Bank, N.A.
	 	$	65,000,000	 
	Bank of America, N.A.
	 	$	65,000,000	 
	Wells Fargo Bank, N.A.
	 	$	65,000,000	 
	The Bank of Nova Scotia
	 	$	55,000,000	 
	The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch
	 	$	55,000,000	 
	U.S. Bank National Association
	 	$	55,000,000	 
	Citibank, N.A.
	 	$	40,000,000	 
	Mizuho Corporate Bank Ltd.
	 	$	40,000,000	 
	PNC Bank National Association
	 	$	40,000,000	 
	TD Bank, N.A.
	 	$	25,000,000	 
	 
	 	 	 
	 
	 	 	 	 
	Total
	 	$	505,000,000	 
	 
	 	 	 

Tranche Two

	 	 	 	 	 
	 	 	Commitment	 
	Credit Suisse AG, Cayman Islands Branch
	 	$	40,000,000	 
	Deutsche Bank AG New York Branch
	 	$	40,000,000	 
	Goldman Sachs Bank USA
	 	$	40,000,000	 
	KeyBank N.A.
	 	$	25,000,000	 
	Sumitomo Mitsui Banking Corporation
	 	$	25,000,000	 
	The Bank of New York Mellon
	 	$	25,000,000	 
	 
	 	 	 
	 
	 	 	 	 
	Total
	 	$	195,000,000	 
	 
	 	 	 

 

 

 

Schedule 2.02

Lending Offices

Tranche One Lending Offices

	 	 	 
	Bank of America, N.A.

	 	100 N. Tryon St.

Charlotte, NC 28255

Attn: Tina Obcena

Tel: (925) 675-8768

Fax: (888) 969-9246

Email: Tina.obcena@baml.com
	 
	 	 
	Citibank, N.A.

	 	1615 Brett Road, Bld III

New Castle, DE 19720

Attn: Citi Loan Operations

Tel: (302) 894-6052

Fax: (212) 994-0847

Email: GLOriginationOps@citi.com
	 
	 	 
	JPMorgan Chase Bank, N.A.

	 	1111 Fannin, Floor 10

Houston, TX 77002

Attn: John Ngo

Tel: (713) 750-2931

Fax: (713) 374-4312

Email: john.ngo@jpmchase.com
	 
	 	 
	Mizuho Corporate Bank Ltd.

	 	1800 Plaza Ten

Harborside Financial Ctr

Jersey City, NJ 07311

Attn: Maxim Lipovetsky

Tel: (201) 626-9178

Fax: (201) 626-9941

Email: maxim.lipovetsky@mizuhocbus. com
	 
	 	 
	PNC Bank National Association

	 	6750 Miller Rd.

Brecksville, OH 44141

Attn: Doreen Kirk

Tel: (440) 546-7467

Fax: (800) 733-1196
	 
	 	 
	The Bank of Nova Scotia

	 	711 Louisiana Street

Suite 1400

Houston, TX 77002

Attn: Noel Corraya

Tel: (212) 225-5705 ext. 3994

Fax: (212) 225-5709

Email: Noel_Corraya@scotiacapital.com

 

 

 

	 	 	 
	The Bank of Tokyo-Mitsubishi
UFJ, Ltd., 

New York Branch

	 	1251 Avenue of the Americas, 12th Floor

New York, NY 10020

Attn: Jaime Velez

Tel: (201) 413-8586

Fax: (201) 521-2304
	 
	 	 
	TD Bank, N.A.

	 	6000 Atrium Way

Mt. Laurel, NJ 08054

Attn: Marcella Brattan

Tel: (856) 533-4885

Fax: (856) 533-7128

Email: Investor.processing@yesbank.com
	 
	 	 
	Wells Fargo Bank, N.A.

	 	1700 Lincoln

Denver, CO 80203

Attn: Jennie Calderon-Sanchez

Tel: (303) 863-6136

Fax: (303) 863-2729

Email: Jennie.Y.CalderonSanchez@wellsfargo.com
	 
	 	 
	U.S. Bank National Association

	 	400 City Center

Oshkosh, WI 54901

Attn: Barb Campbell

Tel: (920) 237-7370

Fax: (920) 237-7993

Email: complex_credits_oshkosh@usbank.com

Tranche Two Lending Offices

	 	 	 
	Credit Suisse AG, Cayman 

Islands Branch

	 	One Madison Avenue

New York, NY 10010

Attn: Jason Golz

Tel: (919) 994-6378

Fax: (866) 469-3871

Email: jason.golz@credit-suisse.com
	 
	 	 
	Deutsche Bank AG New York
Branch

	 	5022 Gate Parkway Suite 100

Jacksonville, FL 32256

Attn: Lee Joyner

Tel: (904) 527-6438

Fax: (866) 240-3622

Email: loan.admin-NY@db.com
	 
	 	 
	Goldman Sachs Bank USA

	 	200 West Street

New York, NY 10282

Tel: (212) 902-1099

Fax: (917) 977-3966

Email: gs-sbd-admin-contacts@ny.email.gs.com

 

 

 

	 	 	 
	KeyBank N.A.

	 	127 Public Square

Cleveland, Ohio 44114

Attn: Kathy Gosnell

Tel: (216) 689-4790

Fax: (216) 370-5996

Email: Kathleen_A_Gosnell@Keybank.com
	 
	 	 
	Sumitomo Mitsui Banking 

Corporation

	 	277 Park Avenue

New York, NY 10172

Attn: Andrew Homola

Tel: (212) 224-4320

Fax: (212) 224-5197
	 
	 	 
	The Bank of New York Mellon

	 	6023 Airport Road

Oriskany, NY 13424

Attn: Amanda VanScooter

Tel: (315) 765-4382

Fax: (315) 765-4783

Email: amanda.vanscooter@bnymellon.com

 

 

 

Schedule 2.05

Existing Letters of Credit 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Expiry	 	 	 	 
	L/C Number	 	Beneficiary	 	Date	 	 	Outstanding	 
	P211787
	 	Hartford Fire Insurance Company	 	 	11/07/2011	 	 	$	5,300,000.00	 
	P238313
	 	Royal Bank of Canada	 	 	11/07/2011	 	 	$	1,250,860.00	 
	P217839
	 	Arrowood Indemnity Company	 	 	09/24/2011	 	 	$	390,000.00	 
	P200905
	 	The Travelers Indemnity Company	 	 	05/05/2011	 	 	$	200,000.00	 
	P249302
	 	St. Paul Fire and Marine	 	 	05/01/2011	 	 	$	400,000.00	 
	TPTS-337485
	 	ACE American Insurance Co.	 	 	06/25/2011	 	 	$	267,314.00	 
	TPTS-736090
	 	Arch Insurance Company	 	 	04/30/2011	 	 	$	3,740,000.00	 
	TPTS-249238
	 	Corporation D’Approvisionnment
Du Reseau De La Sante et Des
Services Sociaux De
L’Outaouais	 	 	04/11/2011	 	 	$	40,891.43	 
	 
	 	 	 	 	 	 	 	 	 	 
	TOTAL
	 	 	 	 	 	 	 	$	11,589,065.43	 

 

 

 

Schedule 3.12

Subsidiaries

Ambulatory Pharmaceutical Services, Inc.

AmerisourceBergen Canada Corporation*

AmerisourceBergen Consulting Services, Inc.

AmerisourceBergen Drug Corporation

AmerisourceBergen Holding Corporation

AmerisourceBergen Services Corporation

AmerisourceBergen Specialty Group, Inc.

AmerisourceBergen Specialty Group Canada Corporation*

AmerisourceBergen Specialty Group Canada Holdings, Inc. *

AmeriSource Health Services Corporation

AmeriSource Heritage Corporation

AmeriSource Receivables Financial Corporation*

Anderson Packaging, Inc.

APlus Pharma Ltd. *

APS Enterprises Holding Company, Inc.

ASD Specialty Healthcare, Inc.

AutoMed Technologies, Inc.

AutoMed Technologies (Canada) Inc. *

Bellco Drug Corp.

Brecon Holdings Limited*

Brecon Pharmaceutical Holdings Limited*

Brecon Pharmaceuticals Limited*

Burt’s Pharmacy, LLC*

Century Advertising, Inc. *

Chapin Drug Company*

Clinical Outcomes Resource Application Corporation

Dialysis Purchasing Alliance, Inc.

Health Services Capital Corporation

I.G.G. of America, Inc.

 

 

 

IHS Acquisition XXX, Inc.

Imedex, LLC

Innomar Specialty Pharmacy Inc. *

Innomar Strategies Inc. *

Integrated Commercialization Solutions, Inc.

International Oncology Networks Solutions, Inc.

International Physician Networks, L.L.C.

J.M. Blanco, Inc. *

Liberty Acquisition Corp.

Medical Initiatives, Inc.

New Jersey Medical Corporation*

Pharm Plus Acquisition, Inc.

Pharmacy Healthcare Solutions, Ltd.

Solana Beach, Inc.

Specialty Pharmacy, Inc.

Specialty Pharmacy of California, Inc.

Telepharmacy Solutions, Inc.

The Lash Group, Inc.

US Bioservices Corporation

Value Apothecaries, Inc.

Xcenda, LLC

All of the subsidiaries listed above are owned directly or indirectly 100% by AmerisourceBergen
Corporation.

	 	 	 
	*	 	Not a Designated Subsidiary

 

 

 

Schedule 3.13

Insurance

The Company maintains a comprehensive insurance portfolio covering a wide range of insurable
risks. The Company’s insurance generally applies across all operations in the United States,
Canada and England. The Company selects insurance carriers based on their expertise, financial
strength and ratings of not less than A- (Excellent) by A. M. Best. The Company maintains the
following types of insurance as of the Effective Date:

Liability Insurance — The Company maintains a broad array of liability insurance for
claims arising out of products, operations, medical malpractice and dispensing errors,
professional errors and omissions and the operations of motor vehicles. The Company also
maintains employment practices liability insurance for claims alleging illegal discrimination,
harassment, wrongful termination, etc. Finally, the Company purchases management liability
insurance for claims against its directors, officers and benefit plan fiduciaries. Limits of
insurance are as follows:

	 	•	 	Product liability, public liability and automobile liability insurance — Limits in
excess of $100 million.

	 	•	 	Professional liability, errors and omissions and medical malpractice insurance —
Limits in excess of $50 million.

	 	•	 	Directors and officers liability insurance — Limits in excess of $100 million

	 	•	 	Fiduciary liability and employment practices liability insurance — Limits in
excess of $25 million.

Property and Crime Insurance — The Company maintains insurance against damage to
inventory, cargo, and business property, along with business interruption insurance for losses
arising from an underlying property insurance claim. Coverage is for a wide range of perils
(often referred to as “All Risks”), insurance for earth movement, windstorm and flood.
Insurance is underwritten by a combination of members of the FM Global Insurance group and
Lloyds of London. Insured limits reflect the replacement value of the underlying assets and
the related business interruption exposure. The Company also maintains crime insurance for
theft, employee dishonesty, embezzlement and related perils with limits well in excess of
$25,000,000.

Workers’ Compensation — The Company maintains both commercial insurance and
self-insurance in the United States in accordance with the applicable state regulations. In
addition, in Puerto Rico, the Canadian provinces and certain U.S. states, the Company
subscribes to the required governmental workers’ compensation program.

 

 

 

Schedule 6.02

Existing Liens

None.

 

 

 

Schedule 6.09

Existing Restrictions

None.

 

 

 

EXHIBIT A

Form of Assignment and Assumption

This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the
Effective Date set forth below and is entered into by and between [NAME OF ASSIGNOR] (the
“Assignor”) and [NAME OF ASSIGNEE] (the “Assignee”). Capitalized terms used herein
but not otherwise defined herein shall have the meanings assigned to such terms in the Credit
Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy of
which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in
Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made
a part of this Assignment and Assumption as if set forth herein in full.

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to
and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the
Effective Date inserted by the Administrative Agent as contemplated below (a) all of the Assignor’s
rights and obligations in its capacity as a Lender under the Credit Agreement and any other
documents or instruments delivered pursuant thereto to the extent related to the amount and
percentage interest identified below of all of such outstanding rights and obligations of the
Assignor under the respective facilities identified below (including any letters of credit,
guarantees, and swingline loans included in such facilities) and (b) to the extent permitted to be
assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under
or in connection with the Credit Agreement, any other documents or instruments delivered pursuant
thereto or the loan transactions governed thereby or in any way based on or related to any of the
foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all
other claims at law or in equity related to the rights and obligations sold and assigned pursuant
to clause (a) above (the rights and obligations sold and assigned pursuant to clauses (a) and (b)
above being referred to herein collectively as the “Assigned Interest”). Such sale and
assignment is without recourse to the Assignor and, except as expressly provided in this Assignment
and Assumption, without representation or warranty by the Assignor.

	 	 	 
	1. Assignor:

	 	 
	 

	 	 
	 
	 	 
	2. Assignee:

	 	 
	 

	 	 
	 

	 	[and is an Affiliate/Approved Fund of [identify Lender]1]
	 
	 	 
	3. Company:

	 	AmerisourceBergen Corporation
	 
	 	 
	4. Borrowers:

	 	The Company, the US Borrowing Subsidiaries, the UK Borrowing Subsidiaries, the Canadian Borrowing
Subsidiaries and any Borrowing Subsidiary that is not a US Borrowing Subsidiary, a UK Borrowing Subsidiary
or a Canadian Borrowing Subsidiary and that has been designated by the Administrative Agent as a Borrowing
Subsidiary at the request of the Company and with the consent of each Lender under the
applicable Tranche
	 
	 	 
	5. Administrative Agent:

	 	JPMorgan Chase Bank, N.A., as administrative agent for the Lenders

 

	 	 	 
	1	 	Select as applicable.

Form of Assignment and Assumption

 

A-1

 

	 	 	 
	6. Credit Agreement:

	 	The US$700,000,000 Credit Agreement dated as of March 18, 2011, among AmerisourceBergen
Corporation, the Borrowing Subsidiaries from time to time party thereto, the Lenders from time
to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent for the Lenders.
	 
	 	 
	7. Assigned Interest:
	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Percentage Assigned of	 
	 	 	Aggregate Amount of	 	 	Amount of	 	 	Aggregate Amount of	 
	 	 	Commitments/Loans of	 	 	Commitments/Loans	 	 	Commitments/Loans of	 
	 	 	all Lenders	 	 	Assigned	 	 	all Lenders2	 
	Tranche One
	 	$	[•]	 	 	$	 	 	 	 	%	 
	Tranche Two
	 	$	[•]	 	 	$	 	 	 	 	%	 

Effective Date:                     
 _____, 20_____ 

[TO BE INSERTED BY THE ADMINISTRATIVE AGENT AND
WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

The Assignee agrees to deliver to the Administrative Agent a completed Administrative Questionnaire
in which the Assignee designates one or more credit contacts to whom all syndicate-level
information (which may contain material non-public information about the Company, the other Loan
Parties and their Related Parties or their respective securities) will be made available and who
may receive such information in accordance with the Assignee’s compliance procedures and applicable
laws, including Federal, state and foreign securities laws.

 

	 	 	 
	2	 	Set forth, to at least nine decimals.

Form of Assignment and Assumption

 

A-2

 

The terms set forth in this Assignment and Assumption are hereby agreed to:

	 	 	 	 	 	 	 
	 	 	[NAME OF ASSIGNOR], as Assignor,	 	 
	 
	 	 	 	 	 	 
	 

	 	by
	 	 
 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	[NAME OF ASSIGNEE], as Assignee,	 	 
	 
	 	 	 	 	 	 
	 

	 	by
	 	 
 

Name:
	 	 
	 

	 	 	 	Title:	 	 

[Consented to and]3 Accepted:

	 	 	 	 	 
	JPMORGAN CHASE BANK, N.A.,

as Administrative Agent,	 	 
	 
	 	 	 	 
	by

	 	 
 

Name:
	 	 
	 

	 	Title:	 	 

[Consented to:]4

	 	 	 	 	 
	[NAME OF ISSUING BANK], as an Issuing Bank,	 	 
	 
	 	 	 	 
	by

	 	 
 

Name:
	 	 
	 

	 	Title:	 	 

 

	 	 	 
	3	 	To be added only if the consent of the Administrative Agent is required under Section 11.04(b) of the Credit Agreement.
	 
	4	 	To be added only if the consent of each Issuing Bank is required by Section 11.04(b) of the Credit Agreement.

Form of Assignment and Assumption

 

A-3

 

[Consented to:]5

	 	 	 	 	 
	AMERISOURCEBERGEN CORPORATION,	 	 
	 
	 	 	 	 
	by

	 	 
 

Name:
	 	 
	 

	 	Title:	 	 

 

	 	 	 
	5	 	To be added only if the consent of the Company is required by Section 11.04(b) of the Credit Agreement.

Form of Assignment and Assumption

 

A-4

 

ANNEX 1

to Form of Assignment and Assumption

US$700,000,000 AmerisourceBergen Corporation Credit Agreement

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

1. Representations and Warranties.

1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken
all action necessary, to execute and deliver this Assignment and Assumption and to consummate the
transactions contemplated hereby and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in or in connection with the Credit Agreement or any
other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial
condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in
respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its
Subsidiaries or Affiliates or any other Person of any of their respective obligations under any
Loan Document.

1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement
that are required to be satisfied by it in order to acquire the Assigned Interest and become a
Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the
obligations of a Lender thereunder, (iv) it has received and/or had the opportunity to review a
copy of the Credit Agreement to the extent it has in its sole discretion deemed necessary, together
with copies of the most recent financial statements delivered pursuant to Section 5.01(a) or
5.01(b) thereof, as applicable, and such other documents and information as it has in its sole
discretion deemed appropriate to make its own credit analysis and decision to enter into this
Assignment and Assumption and to purchase the Assigned Interest on the basis of which it has made
such analysis and decision independently and without reliance on the Administrative Agent or any
Lender, and (v) if it is a foreign lender, attached to this Assignment and Assumption is any
documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly
completed and executed by the Assignee and (b) agrees that it will (i) independently and without
reliance on the Administrative Agent, the Assignor or any other Lender, and based on such documents
and information as it shall deem appropriate at the time, continue to make its own credit decisions
in taking or not taking action under the Loan Documents and (ii) perform in accordance with their
terms all of the obligations which by the terms of the Loan Documents are required to be performed
by it as a Lender.

Form of Assignment and Assumption

 

A-5

 

2. Payments. From and after the Effective Date, the Administrative Agent shall make
all payments in respect of the Assigned Interest (including payments of principal, interest, fees
and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective
Date and to the Assignee for amounts which have accrued from and after the Effective Date.

3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This
Assignment and Assumption may be executed in any number of counterparts, each of which shall
constitute an original and all of which when taken together shall constitute one agreement.
Delivery of an executed counterpart of a signature page of this Assignment and Assumption by
telecopy or other electronic transmission shall be as effective as delivery of a manually executed
counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed
by, and construed in accordance with, the laws of the State of New York.

Form of Assignment and Assumption

 

A-6

 

Exhibit B-1

Form of Borrower Joinder Agreement

BORROWER JOINDER AGREEMENT dated as of [•] (this
“Agreement”), among AMERISOURCEBERGEN CORPORATION, a Delaware
corporation (the “Company”), [NAME OF NEW BORROWING SUBSIDIARY], a
[JURISDICTION] [ORGANIZATIONAL FORM] (the “New Borrower”) and
JPMORGAN CHASE BANK, N.A., as administrative agent (the
“Administrative Agent”) for the Lenders.

Reference is made to the Credit Agreement dated as of March 18, 2011 (as amended, supplemented
or otherwise modified time to time, the “Credit Agreement”), among the Company, the
Borrowing Subsidiaries from time to time party thereto, the Lenders from time to time party thereto
and the Administrative Agent. Each capitalized term used but not defined herein shall have the
meaning assigned to it in the Credit Agreement.

Under the Credit Agreement, the Lenders and the Issuing Banks have agreed, upon the terms and
subject to the conditions set forth therein, to make Loans to, accept and purchase B/As issued by,
and issue Letters of Credit for the account of, the Borrowers, and the Company and the New Borrower
desire that the New Borrower becomes a “Borrower” under the Credit Agreement. Each of the Company
and the New Borrower represent and warrant that the representations and warranties of the Company
in the Credit Agreement relating to the New Borrower and this Agreement are true and correct in all
material respects on and as of the date hereof. The Company agrees that the guarantee of the
Company contained in the Credit Agreement, and the guarantee of each Designated Subsidiary
contained in the Guarantee Agreement, will apply to the Obligations of the New Borrower.

Upon execution and delivery of this Agreement (and of any other documents reasonably requested
by the Administrative Agent) by each of the Company, the New Borrower and the Administrative Agent
and the satisfaction of the other conditions set forth in Section 4.03 of the Credit Agreement, the
New Borrower shall become a party to the Credit Agreement and a “Borrower” for all purposes
thereof; provided that this Agreement shall not become effective if it shall be unlawful for the
New Borrower to become a “Borrower” thereunder or for any Lender participating in a Tranche under
which the New Borrower may borrow to make Loans or otherwise extend credit to the New Borrower as
provided therein.

Form of Borrower Joinder Agreement

 

B-1-1

 

The New Borrower hereby agrees to be bound by all provisions of the Credit Agreement. The
Applicable Funding Account for the New Borrower shall be:

	 	 	 	 	 	 	 	 	 
	Bank	 	Swift	 	Acct	 	ABA	 	IBAN/ Routing Code
	 
	 	 	 	 	 	 	 	 

THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK.

Form of Borrower Joinder Agreement

 

B-1-2

 

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

	 	 	 	 	 	 	 
	 	 	AMERISOURCEBERGEN CORPORATION,	 	 
	 
	 	 	 	 	 	 
	 

	 	by	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	[NAME OF NEW BORROWER],	 	 
	 
	 	 	 	 	 	 
	 

	 	by	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK,
N.A., as Administrative Agent,	 	 
	 
	 	 	 	 	 	 
	 

	 	by	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

Form of Borrower Joinder Agreement

 

B-1-3

 

Exhibit B-2

Form of Borrower Termination Agreement

JPMorgan Chase Bank, N.A.,

   as administrative agent under the Credit Agreement referred to below,

c/o Loan and Agency Services Group

1111 Fannin, 10th Floor

Houston, TX 77002

Attention: John Ngo (Telecopy No. (713) 374-4312)

JPMorgan Chase Bank, N.A.,

   as administrative agent under the Credit Agreement referred to below,

383 Madison Avenue, NY 10179

Attention: Vanessa Chiu (Telecopy No. (646) 534-0574)

[DATE]

Re: Borrower Termination Agreement

Ladies and Gentlemen:

Reference is made to the Credit Agreement dated as of March 18, 2011 (as amended, supplemented
or otherwise modified time to time, the “Credit Agreement”), among the AmerisourceBergen
Corporation (the “Company”), the Borrowing Subsidiaries from time to time party thereto,
the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent
for the Lenders. Each capitalized term used but not defined herein shall have the meaning assigned
to it in the Credit Agreement.

The Company hereby terminates the status of [NAME OF TERMINATED BORROWING SUBSIDIARY] (the
“Terminated Borrower”) as a “Borrower” under the Credit Agreement. [The Company represents
and warrants that all Loans made to and B/As drawn by the Terminated Borrower have been repaid, all
Letters of Credit issued for the account of the Terminated Borrower have been drawn in full or have
expired and all amounts payable by the Terminated Borrower in respect of LC Disbursements, interest
and/or fees (and, to the extent notified by the Administrative Agent or any Lender, any other
amounts payable under the Credit Agreement by the Terminated Borrower have been paid in full on or
prior to the date hereof.][The Company and the Terminated Borrower acknowledge that the Terminated
Borrower shall continue to be a Borrower until such time as all Loans made to and B/As drawn by the
Terminated Borrower have been repaid, all Letters of Credit issued for the account of the
Terminated Borrower have been drawn in full or have expired and all amounts payable by the
Terminated Borrower in respect of LC Disbursements, interest and/or fees (and, to the extent
notified by the Administrative Agent or any Lender, any other amounts payable under the Credit
Agreement by the Terminated Borrower) have been paid in full; provided that the Terminated Borrower
shall not have the right to request or receive further extensions of credit under the Credit
Agreement.]

Form of Borrower Termination Agreement

 

B-2-1

 

THIS INSTRUMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK.

	 	 	 	 	 
	 	Very truly yours,

AMERISOURCEBERGEN CORPORATION,

 	 
	 	by 	 	 
	 	 	Name: 	 	 
	 	 	Title: 	 	 

Form of Borrower Termination Agreement

 

B-2-2

 

EXHIBIT C

Form of Borrowing Request

JPMorgan Chase Bank, N.A.,

   as administrative agent under the Credit Agreement referred to below,

c/o Loan and Agency Services Group

1111 Fannin, 10th Floor

Houston, TX 77002

Attention: John Ngo (Telecopy No. (713) 374-4312)

JPMorgan Chase Bank, N.A.,

   as administrative agent under the Credit Agreement referred to below,

383 Madison Avenue, NY 10179

Attention: Vanessa Chiu (Telecopy No. (646) 534-0574)

[DATE]

Re: Borrowing Request

Ladies and Gentlemen:

Reference is made to the Credit Agreement dated as of March 18, 2011 (as amended, supplemented
or otherwise modified time to time, the “Credit Agreement”), among the AmerisourceBergen
Corporation (the “Company”), the Borrowing Subsidiaries from time to time party thereto,
the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent
for the Lenders. Each capitalized term used but not defined herein shall have the meaning assigned
to it in the Credit Agreement.

[NAME OF BORROWER] hereby gives you notice pursuant to Section 2.03 of the Credit Agreement
that it requests a Borrowing under the Credit Agreement, and in that connection sets forth below
the terms on which such Borrowing is requested to be made:

(a) such Borrowing shall be a [Tranche One Revolving Borrowing][Tranche Two Revolving
Borrowing];

(b) such Borrowing shall be denominated in [CURRENCY] and shall be in an aggregate principal
amount equal to US$[•]6;

(c) the date of such Borrowing shall be [•]7;

 

	 	 	 
	6	 	The aggregate principal amount of any LIBOR or EURIBOR
Borrowing must be an integral multiple of the Borrowing Multiple and not less
than the Borrowing Minimum. The aggregate principal amount of any ABR
Borrowing must be an integral multiple of $100,000 and not less than
$1,000,000. The aggregate principal amount of any Canadian Prime Rate
Borrowing must be an integral multiple of Cdn.$ 100,000 and not less than
$1,000,000.
	 
	7	 	The date of any Borrowing must be a Business Day and
(a) in the case of a LIBOR or EURIBOR Borrowing, three Business Days after the
date of this Borrowing Request if this request is submitted by 12:00 noon,
Local Time, and the next Business Day thereafter if this request is submitted
after 12:00 noon, Local Time and (b) in the case of an ABR Borrowing or
Canadian Prime Rate Borrowing (in each case, other than a Swingline Loan), the
date of this Borrowing Request if this request is submitted by 12:00 noon,
Local Time, and the next Business Day thereafter if this request is submitted
after 12:00 noon, Local Time.

Form of Borrowing Request

 

C-1

 

(d) such Borrowing shall be [an ABR Borrowing][a LIBOR Borrowing][a EURIBOR Borrowing][a
Canadian Prime Rate Borrowing] [a Sterling Overnight Rate Borrowing] [a Euro Overnight Rate
Borrowing];

(e) [if such Borrowing is a LIBOR Borrowing or EURIBOR Borrowing,] the initial Interest Period
for such Borrowing shall have a [one][two][three][six]8 months’ duration;

(f) the Applicable Funding Account for such Borrowing shall be [•]; and

(g) [if such Borrowing Subsidiary is organized in a jurisdiction other than the United States,
the United Kingdom or Canada,] payments of the principal and interest on such Borrowing will be
made from [JURISDICTION].

[Each of the][The] Company [and the [BORROWER]] hereby represents and warrants to the
Administrative Agent and the Lenders that, on the date of this Borrowing Request and on the date of
the related Borrowing, the conditions to lending specified in paragraphs (a) and (b) of Section
4.02 of the Credit Agreement have been satisfied.

	 	 	 	 	 
	 	Very truly yours,

AMERISOURCEBERGEN CORPORATION,

 	 
	 	by 	 	 
	 	 	Name: 	 	 
	 	 	Title: 	 	 

 

	 	 	 
	8	 	With the consent of each Lender with Commitments under
the Tranche under which such Borrowing is to be made, the Interest Period may
other than those set forth in this clause.

Form of Borrowing Request

 

C-2

 

EXHIBIT D

Form of Guarantee Agreement

GUARANTEE AGREEMENT

dated as of [•],

between

The Guarantors Party Hereto

and

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

Form of Guarantee Agreement

 

D-1

 

GUARANTEE AGREEMENT dated as of [•] (this “Agreement”),
between each of the subsidiaries of the Company listed on Schedule
I hereto (collectively, the “Guarantors”) and JPMORGAN CHASE
BANK, N.A., as administrative agent (the “Administrative Agent”)
for the Lenders.

Reference is made to the Credit Agreement dated as of March 18, 2011 (as amended, supplemented
or otherwise modified from time to time, the “Credit Agreement”), among AmerisourceBergen
Corporation, the Borrowing Subsidiaries from time to time party thereto, the Lenders from time to
time party thereto and the Administrative Agent. Each capitalized term used but not defined herein
shall have the meaning assigned to it in the Credit Agreement. The Lenders have agreed to extend
credit to the Borrowers subject to the terms and conditions set forth in the Credit Agreement. The
obligations of the Lenders to extend such credit are conditioned upon, among other things, the
execution and delivery of this Agreement. Each Guarantor will derive substantial benefits from the
extension of credit to the Borrowers pursuant to the Credit Agreement and is willing to execute and
deliver this Agreement in order to induce the Lenders to extend such credit.

Accordingly, the parties hereto agree as follows:

SECTION 1. Guarantee. Each Guarantor irrevocably and unconditionally guarantees, as
a primary obligor and not merely as a surety, the due and punctual payment and performance of the
Obligations. Each Guarantor agrees that the Obligations may be extended or renewed, in whole or in
part, without notice to or further assent from it, and that it will remain bound upon its Guarantee
hereunder notwithstanding any such extension or renewal of any Obligation. Each Guarantor waives
presentment to, demand of payment from and protest to the Borrowers, any other Loan Party or any
other Guarantor of any of the Obligations, and also waives notice of acceptance of its Guarantee
and notice of protest for nonpayment.

SECTION 2. No Limitations. Except for termination of any Guarantor’s obligations
hereunder as expressly provided in Section 8 of this Agreement and Sections 11.14 and 11.16 of the
Credit Agreement, the obligations of such Guarantor hereunder shall not be subject to any
reduction, limitation, impairment or termination for any reason, including any claim of waiver,
release, surrender, alteration or compromise, and shall not be subject to any defense or setoff,
counterclaim, recoupment or termination whatsoever, by reason of the invalidity, illegality or
unenforceability of the Obligations, any impossibility in the performance of the Obligations or
otherwise. Without limiting the generality of the foregoing, the obligations of the each of the
Guarantors hereunder shall not be affected by (a) the failure of the Administrative Agent or any
other Lender to assert any claim or demand or to enforce or exercise any right or remedy under the
provisions of the Credit Agreement, this Agreement, any other Loan Document or otherwise, (b) any
extension or renewal of any of the Obligations, (c) any rescission, waiver, amendment or
modification of, or release from any of the terms or provisions of, the Credit Agreement, this
Agreement or any other Loan Document, (d) any default, failure or delay, willful or otherwise, in
the performance of the Obligations or (e) any other act, omission or delay to do any other act
which may or might in any manner or to any extent vary the risk of such Guarantor or otherwise
operate as a discharge of such Guarantor as a matter of law or equity (other than the indefeasible
payment in full in cash of all the Obligations) or which would impair or eliminate any right of
such Guarantor to subrogation. Each Guarantor expressly authorizes the Administrative Agent and
the Lenders to release or substitute any one or more other guarantors or obligors upon or in
respect of the Obligations, all without affecting the obligations of such Guarantor hereunder.

Form of Guarantee Agreement

 

D-2

 

SECTION 3. Guarantee of Payment. Each Guarantor further agrees that its guarantee
hereunder constitutes a guarantee of payment when due (whether or not any bankruptcy or similar
proceeding shall have stayed the accrual or collection of any of the Obligations or operated as a
discharge thereof) and not merely of collection, and waives any right to require that any resort be
had by the Administrative Agent or any other Lender to any balance of any deposit account or credit
on the books of the Administrative Agent or any other Lender in favor of the Borrowers, any other
Loan Party, any other Guarantor or any other Person.

SECTION 4. Defenses Waived. To the fullest extent permitted by applicable law, each
Guarantor waives any defense based on or arising out of any defense of the Borrowers, any other
Loan Party or any other Guarantor or the unenforceability of the Obligations or any part thereof
from any cause, or the cessation from any cause of the liability of the Borrowers, any other Loan
Party or any other Guarantor, or any decree or order, or any law or regulation of any jurisdiction
or event affecting any term of an Obligation, and any other act, omission or delay to do any other
act which may or might in any manner or to any extent vary the risk of such Guarantor or otherwise
operate as a discharge of a guarantor as a matter of law or equity or which would impair or
eliminate any right of such Guarantor to subrogation or any other circumstance that might
constitute a defense of the Borrowers, any Loan Party or any other Guarantor, other than the
indefeasible payment in full in cash of all the Obligations. The Administrative Agent and the
other Lenders may, at their election, compromise or adjust any part of the Obligations, make any
other accommodation with the Borrowers, any other Loan Party or any Guarantor or exercise any other
right or remedy available to them against the Borrowers or any other Loan Party, without affecting
or impairing in any way the liability of any Guarantor hereunder except to the extent all the
Obligations have been fully and indefeasibly paid in cash. To the fullest extent permitted by
applicable law, each Guarantor waives any defense arising out of any such election even though such
election operates, pursuant to applicable law, to impair or to extinguish any right of
reimbursement or subrogation or other right or remedy of such Guarantor against the Borrowers, any
other Loan Party or any other Guarantor, as the case may be, or any security.

SECTION 5. Agreement to Pay; Subordination. In furtherance of the foregoing and not
in limitation of any other right that the Administrative Agent or any other Lenders may have at law
or in equity against any Guarantor by virtue hereof, upon the failure of the Borrowers, any other
Loan Party or any Guarantor to pay any Obligation when and as the same shall become due, whether at
maturity, by acceleration, after notice of prepayment or otherwise, each Guarantor hereby promises
to and will, upon receipt of written demand by the Administrative Agent, forthwith pay, or cause to
be paid, to the Administrative Agent for distribution to the applicable Lenders in cash the amount
of such unpaid Obligation. Upon payment by any Guarantor of any sums to the Administrative Agent
as provided above, all rights of such Guarantor against the Borrowers, any other Loan Party or any
other Guarantor arising as a result thereof by way of right of subrogation, contribution,
reimbursement, indemnity or otherwise shall in all respects be subordinated and junior in right of
payment to the prior indefeasible payment in full in cash of all the Obligations. In addition, any
Indebtedness of the Borrowers, any other Loan Party or any Guarantor now or hereafter held by any
Guarantor is hereby subordinated in right of payment to the prior indefeasible payment in full in
cash of all the Obligations. If any amount shall erroneously be paid to any Guarantor on account
of (a) such subrogation, contribution, reimbursement, indemnity or similar right or (b) any such
Indebtedness of the Borrowers, any
other Loan Party or any Guarantor, such amount shall be held in trust for the benefit of the
Lenders and shall forthwith be paid to the Administrative Agent to be credited against the payment
of the Obligations, whether matured or unmatured, in accordance with the terms of the Credit
Agreement or any other Loan Document.

Form of Guarantee Agreement

 

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SECTION 6. Information. Each Guarantor assumes all responsibility for being and
keeping itself informed of each Borrower’s, each other Loan Party’s and each Guarantor’s financial
condition and assets, and of all other circumstances bearing upon the risk of nonpayment of the
Obligations and the nature, scope and extent of the risks that such Guarantor assumes and incurs
hereunder, and agrees that none of the Administrative Agent or the other Lenders will have any duty
to advise such Guarantor of information known to it or any of them regarding such circumstances or
risks.

SECTION 7. Taxes. Each Guarantor agrees that the provisions of Section 2.16 of the
Credit Agreement shall apply equally to such Guarantor with respect to payments made by it
hereunder.

SECTION 8. Termination. (a) Each of the Guarantees made hereunder shall (i) subject
to clause (ii) below, terminate when all the Obligations have been indefeasibly paid in full in
cash, no Letters of Credit are outstanding (unless such Letters of Credit have been fully cash
collateralized under arrangements agreed to in writing by the applicable Issuing Banks), the
Lenders have no further commitment to lend, and the Issuing Banks have no further obligation to
issue Letters of Credit, under the Credit Agreement and (ii) continue to be effective or be
reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is
rescinded or must otherwise be restored by the Administrative Agent or any other Lender upon the
bankruptcy or reorganization of any Borrower, any other Loan Party or any Guarantor, or otherwise.

(b) The Administrative Agent shall release any Guarantor that ceases to be a Subsidiary as a
result of transactions permitted under the Credit Agreement from its obligations hereunder on the
terms and subject to the conditions and limitations set forth in Section 11.14 of the Credit
Agreement.

SECTION 9. Effectiveness; Binding Agreement; Assignments. This Agreement shall
become effective when a counterpart hereof executed on behalf of each Guarantor shall have been
delivered to the Administrative Agent, and a counterpart hereof shall have been executed on behalf
of the Administrative Agent, and thereafter shall be binding upon the parties hereto and their
respective successors and assigns, and shall inure to the benefit of each Guarantor, the
Administrative Agent, the other Lenders and their respective successors and assigns, except that
none of the Guarantors shall have the right to assign or otherwise transfer any of its rights or
obligations hereunder or any interest herein, and any such attempted assignment or transfer shall
be null and void. Whenever in this Agreement any of the parties hereto is referred to, such
reference shall be deemed to include the successors and assigns of such party permitted hereby.

SECTION 10. Waivers; Amendment. (a) No failure or delay of the Administrative Agent
or any other Lender in exercising any right or power hereunder shall operate as a waiver thereof,
nor shall any single or partial exercise of any such right or power, or any abandonment or
discontinuance of steps to enforce such a right or power, preclude any other or further exercise
thereof or the exercise of any other right or power. The rights and remedies of the Administrative
Agent and the other Lenders hereunder or under the Credit Agreement or any other
Loan Document are cumulative and are not exclusive of any rights or remedies that they would
otherwise have. No waiver of any provision of this Agreement or consent to any departure by any
Guarantor therefrom shall in any event be effective unless the same shall be permitted by paragraph
(b) of this Section, and then such waiver or consent shall be effective only in the specific
instance and for the purpose for which given. No notice or demand on any Guarantor in any case
shall entitle such Guarantor to any other or further notice or demand in similar or other
circumstances.

Form of Guarantee Agreement

 

D-4

 

(b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to an agreement or agreements in writing entered into by the Administrative Agent and each
Guarantor, subject to any consent required in accordance with Section 11.02 of the Credit
Agreement.

SECTION 11. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

SECTION 12. Notices. All communications and notices hereunder shall be in writing
and given as provided in Section 11.01 of the Credit Agreement. All communications and notices
hereunder to the Guarantors shall be given to them at 1300 Morris Drive, Suite 100, Chesterbrook,
PA 19087, Attention of J.F. Quinn (Telecopy (610) 727-3639), with a copy to the Company, Attention
of General Counsel.

SECTION 13. Survival of Agreement; Severability. (a) All covenants, agreements,
representations and warranties made by the Guarantors herein and in the certificates or other
instruments prepared or delivered in connection with or pursuant to this Agreement shall be
considered to have been relied upon by the Administrative Agent and the other Lenders and shall
survive the execution and delivery of this Agreement and the making of the Loans, the acceptance
and purchase of any B/As and the issuance of any Letters of Credit, regardless of any investigation
made by any of them or on their behalf and notwithstanding that the Administrative Agent or any
other Lender may have had notice or knowledge of any Default or incorrect representation or
warranty at the time any credit is extended under the Credit Agreement, and shall continue in full
force and effect as long as the principal of or any accrued interest on any Loan or any fee or any
other amount payable under this Agreement or any other Loan Document is outstanding and unpaid and
as long as the Commitments have not expired or been terminated.

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

SECTION 14. Counterparts. This Agreement may be executed in counterparts, each of
which shall constitute an original, but all of which when taken together shall constitute a single
contract, and shall become effective as provided in Section 9. Delivery of an executed signature
page to this Agreement by facsimile or other electronic transmission shall be as effective as
delivery of a manually executed counterpart of this Agreement.

Form of Guarantee Agreement

 

D-5

 

SECTION 15. Rules of Interpretation. The rules of interpretation specified in
Sections 1.03, 1.04 and 1.05 of the Credit Agreement shall be applicable to this Agreement.

SECTION 16. Jurisdiction; Consent to Service of Process. (a) Each Guarantor hereby
irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction
of the Supreme Court of the State of New York sitting in New York County and of the United States
District Court of the Southern District of New York, and any appellate court from any thereof, in
any action or proceeding arising out of or relating to this Agreement, or for recognition or
enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally
agrees that all claims in respect of any such action or proceeding may be heard and determined in
such New York State or, to the extent permitted by law, in such Federal court. Each of the parties
hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.
Nothing in this Agreement shall affect any right that the Administrative Agent or any other Lender
may otherwise have to bring any action or proceeding relating to this Agreement or any other Loan
Document against any Guarantor or its properties in the courts of any jurisdiction.

(b) Each Guarantor hereby irrevocably and unconditionally waives, to the fullest extent it
may legally and effectively do so, any objection that it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Agreement in any court
referred to in paragraph (a) of this Section. Each of the parties hereto hereby irrevocably
waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.

(c) Each Guarantor that is not a US Subsidiary hereby irrevocably designates, appoints and
empowers the Company (with a mandatory copy to the Philadelphia office of Morgan, Lewis & Bockius
LLP, having its address at 1701 Market Street, Philadelphia PA 19103, Attention of Michael Pedrick,
Esq.), as its process agent to receive for and on its behalf service of process in any legal action
or proceeding arising out of or relating to this Agreement. It is understood that a copy of any
such process served on the Company, as process agent, shall be promptly forwarded by registered
mail by the Person commencing such proceeding to such Guarantor at the address specified in Section
12, but the failure of such Guarantor to receive such copy shall not affect in any way the service
of such process as aforesaid.

(d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 12. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by law.

SECTION 17. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN
DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY
OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY
OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT
OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER
PARTIES HERETO HAVE BEEN
INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION.

Form of Guarantee Agreement

 

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SECTION 18. Right of Setoff. If an Event of Default shall have occurred and be
continuing, the Administrative Agent, each other Lender and each of their Affiliates is hereby
authorized at any time and from time to time, to the fullest extent permitted by law, to set off
and apply any and all deposits (general or special, time or demand, provisional or final) at any
time held and other Indebtedness at any time owing by such Person to or for the credit or the
account of any Guarantor against any or all the obligations of such Guarantor now or hereafter
existing under this Agreement held by such Person, irrespective of whether or not such Person shall
have made any demand under this Agreement and although such obligations may be unmatured. The
rights of the Administrative Agent, each other Lender and each of their Affiliates under this
Section are in addition to other rights and remedies (including other rights of setoff) which such
Person may have.

SECTION 19. No Fiduciary Relationship. Each Guarantor, on behalf of itself and its
Affiliates, agrees that in connection with all aspects of the transactions contemplated hereby and
any communications in connection therewith, such Guarantor and its Affiliates, on the one hand, and
the Administrative Agent, the other Lenders and their Affiliates, on the other hand, will have a
business relationship that does not create, by implication or otherwise, any fiduciary duty on the
part of the Administrative Agent, the other Lenders or their Affiliates, and no such duty will be
deemed to have arisen in connection with any such transactions or communications.

Form of Guarantee Agreement

 

D-7

 

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

	 	 	 	 	 
	 	[NAME OF GUARANTORS],

 	 
	 	by 	 	 
	 	 	Name: 	 	 
	 	 	Title: 	 	 

 

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as

Administrative Agent,

 	 
	 	by 	 	 
	 	 	Name: 	 	 
	 	 	Title: 	 	 

Signature Page to Guarantee Agreement

 

 

 

Guarantors

Form of Guarantee Agreement

 

D-1

 

EXHIBIT E

Mandatory Costs Rate

	1.	 	The Mandatory Costs Rate is an addition to the interest rate to compensate Lenders for the
cost of compliance with (a) the requirements of the Bank of England and/or the Financial
Services Authority (or, in either case, any other authority which replaces all or any of its
functions) or (b) the requirements of the European Central Bank.

	2.	 	On the first day of each Interest Period (or as soon as possible thereafter) the
Administrative Agent (acting through its London branch) shall calculate a rate (the
“Additional Costs Rate”), expressed as a percentage, for each Lender, in accordance
with the paragraphs set out below. The Mandatory Costs Rate will be calculated by the
Administrative Agent as a weighted average of the Lenders’ Additional Costs Rates (weighted in
proportion to the percentage participation of each Lender in the applicable Borrowing) and
will be expressed as a percentage rate per annum.

	3.	 	The Additional Costs Rate for any Lender lending from a Lending Office located in a
Participating Member State will be the percentage notified by that Lender to the
Administrative Agent. This percentage will be certified by that Lender in its notice to the
Administrative Agent to be its reasonable determination of the cost (expressed as a percentage
of that Lender’s participation in all Loans made from such Lending Office) of complying with
the minimum reserve requirements of the European Central Bank in respect of Loans made from
such Lending Office.

	4.	 	The Additional Costs Rate for any Lender lending from a Lending Office in the United Kingdom
will be calculated by the Administrative Agent as follows:

(a) with respect to any Loan denominated in Sterling:

	 	 	 
	AB + C(B – D) + E x 0.01
 

100 – (A + C)

	 	percent per annum

(b) with respect to any Loan denominated in any currency (other than Sterling):

	 	 	 
	E x 0.01
 

300

	 	percent per annum.

Where:

“A” means the percentage of Eligible Liabilities (assuming these to be in excess of any
stated minimum) which that Lender is from time to time required to maintain as an interest free
cash ratio deposit with the Bank of England to comply with cash ratio requirements.

“B” means the percentage rate of interest (excluding the Applicable Rate and the Mandatory
Costs Rate and, if the Loan was not paid when due, the additional rate of interest specified in
Section 2.13(g)) payable for the applicable Interest Period on the Loan.

“C” means the percentage (if any) of Eligible Liabilities which that Lender is required
from time to time to maintain as interest bearing Special Deposits with the Bank of England.

Mandatory Costs Rate

 

E-1

 

“D” means the percentage rate per annum payable by the Bank of England to the
Administrative Agent on interest bearing Special Deposits.

“E” is designed to compensate Lenders for amounts payable under the Fees Rules and is
calculated by the Administrative Agent as being the average of the most recent rates of charge
supplied by the Reference Banks to the Administrative Agent pursuant to paragraph 7 below and
expressed in Sterling per £1,000,000.

	5.	 	For the purposes of this Schedule:

	 	(a)	 	“Eligible Liabilities” and “Special Deposits” have the
meanings given to them from time to time under or pursuant to the Bank of England Act
1998 or (as may be appropriate) by the Bank of England.

	 	(b)	 	“Fees Rules” means the rules on periodic fees contained in the
Financial Services Authority Supervision Manual or such other law or regulation as may
be in force from time to time in respect of the payment of fees for the acceptance of
deposits.

	 	(c)	 	“Fee Tariffs” means the fee tariffs specified in the Fees Rules under
the activity group A.1 Deposit acceptors (ignoring any minimum fee or zero rated fee
required pursuant to the Fees Rules but taking into account any applicable discount
rate).

	 	(d)	 	“Participating Member State” means any member state of the European
Communities that adopts or has adopted the Euro as its lawful currency in accordance
with legislation of the European Community relating to Economic and Monetary Union.

	 	(e)	 	“Tariff Base” has the meaning given to it in, and will be calculated
in accordance with, the Fees Rules.

	6.	 	In application of the above formulae, A, B, C and D will be included in the formulae as
percentages (i.e., 5% will be included in the formula as 5 and not as 0.05). A negative
result obtained by subtracting D from B shall be taken as zero. The resulting figures shall
be rounded to four decimal places.

	7.	 	If requested by the Administrative Agent, each Reference Bank shall, as soon as practicable
after publication by the Financial Services Authority, supply to the Administrative Agent, the
rate of charge payable by that Reference Bank to the Financial Services Authority pursuant to
the Fees Rules in respect of the relevant financial year of the Financial Services Authority
(calculated for this purpose by that Reference Bank as being the average of the Fee Tariffs
applicable to that Reference Bank for that financial year) and expressed in Sterling per
£1,000,000 of the Tariff Base of that Reference Bank.

	8.	 	Each Lender shall supply any information required by the Administrative Agent for the purpose
of calculating its Additional Costs Rate. In particular, but without limitation, each Lender
shall supply the following information on or prior to the date on which it becomes a Lender:

	 	(a)	 	the jurisdiction of its applicable Lending Office; and

	 	(b)	 	any other information that the Administrative Agent may reasonably require
for such purpose.

Mandatory Costs Rate

 

E-2

 

Each Lender shall promptly notify the Administrative Agent of any change to the information
provided by it pursuant to this paragraph.

	9.	 	The percentages of each Lender for the purpose of A and C above and the rates of charge of
each Reference Bank for the purpose of E above shall be determined by the Administrative Agent
based upon the information supplied to it pursuant to paragraphs 7 and 8 above and on the
assumption that, unless a Lender notifies the Administrative Agent to the contrary, each
Lender’s obligations in relation to cash ratio deposits and Special Deposits are the same as
those of a typical bank from its jurisdiction of incorporation with a Lending Office in the
same jurisdiction as its applicable Lending Office.

	10.	 	The Administrative Agent shall have no liability to any person if such determination results
in an Additional Costs Rate which over or under compensates any Lender and shall be entitled
to assume that the information provided by any Lender or Reference Bank pursuant to paragraphs
3, 7 and 8 above is true and correct in all respects.

	11.	 	The Administrative Agent shall distribute the additional amounts received as a result of the
Mandatory Costs Rate to the Lenders on the basis of the Additional Costs Rate for each Lender
based on the information provided by each Lender and each Reference Bank pursuant to
paragraphs 3, 7 and 8 above.

	12.	 	Any determination by the Administrative Agent pursuant to this Schedule in relation to a
formula, the Mandatory Costs Rate, an Additional Costs Rate or any amount payable to a Lender
shall, in the absence of manifest error, be conclusive and binding on all parties hereto.

	13.	 	The Administrative Agent may from time to time, after consultation with the Borrower and the
Lenders, determine and notify to all parties any amendments which are required to be made to
this Schedule in order to comply with any change in law, regulation or any requirements from
time to time imposed by the Bank of England, the Financial Services Authority or the European
Central Bank (or, in any case, any other authority which replaces all or any of its functions)
and any such determination shall, in the absence of manifest error, be conclusive and binding
on all parties hereto.

Mandatory Costs Rate

 

E-3

 

EXHIBIT F-1

Form of Opinion of Morgan, Lewis & Bockius LLP, Counsel for the Company

1. Each of the Company and each Named Subsidiary is a corporation or limited liability company
validly existing and in good standing under the laws of the jurisdiction of organization indicated
opposite the name of such entity in Schedule 2 hereto.

2. Each of the Company and each Named Subsidiary has the corporate or limited liability
company power and authority, as applicable, to enter into and perform the Credit Documents to which
it is a party and has taken all necessary corporate or limited liability company action, as
applicable, to authorize the execution, delivery and performance of such Credit Documents.

3. Each of the Company and each Named Subsidiary has duly executed and delivered the Credit
Documents to which it is a party.

4. Each Credit Document to which the Company or a Designated Subsidiary is a party is the
valid and binding obligation of the Company or such Designated Subsidiary, as applicable,
enforceable against the Company and each such Designated Subsidiary in accordance with its terms.

5. The execution and delivery by the Company and the Designated Subsidiaries of the Credit
Documents do not, and the performance by the Company and the Designated Subsidiaries of their
respective obligations thereunder will not, (i) result in a violation of the certificate of
incorporation, certificate of formation, bylaws or operating agreement of the Company or any Named
Subsidiary, (ii) violate or result in a default under any of the debt instruments or other
agreements relating to any existing indebtedness of the Company or any of the Designated
Subsidiaries as set forth in Schedule 3 hereto or give rise to a right thereunder to
require any payment to be made by the Company or any Designated Subsidiaries thereunder or (iii)
result in a violation of any Company Order.

6. The execution and delivery by each of the Company and each Designated Subsidiary of the
Credit Documents do not, and the performance by each of the Company and each such Designated
Subsidiary of its obligations thereunder will not, require any approval from or filing with any
governmental authority of the United States or the State of New York or under any provision of the
General Corporation Law of the State of Delaware or the Delaware Limited Liability Company Act.

7. The execution and delivery by each of the Company and each Designated Subsidiary of the
Credit Documents do not, and the performance by the Company and each such Designated Subsidiary of
its obligations thereunder will not, result in any violation of any federal law of the United
States or law of the State of New York or any regulation thereunder, or under any provision of the
General Corporation Law of the State of Delaware or the Delaware Limited Liability Company Act.

8. To our knowledge, there are no pending lawsuits or other proceedings against the Company,
any of the Designated Subsidiaries or their respective properties before any court, arbitrator or
governmental agency or authority that challenge the legality, validity or enforceability of the
Credit Documents.

Form of Opinion of Morgan, Lewis & Bockius LLP, Counsel for the Company

 

F-1-1

 

9. The extension of credit made on the date hereof and the use of the proceeds thereof in
accordance with the provisions of the Credit Agreement do not violate the provisions of Regulations
T, U or X of the Board of Governors of the Federal Reserve System

10. Neither the Company or any Designated Subsidiary is an “investment company” within the
meaning of, and subject to regulation under, the Investment Company Act of 1940, as amended, and
will not become one as a result of the subject transaction.

Form of Opinion of Morgan, Lewis & Bockius LLP, Counsel for the Company

 

F-1-2

 

EXHIBIT F-2

Form of Opinion of John G. Chou, General Counsel of the Company

1. Each Loan Party is duly organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation or organization and has all requisite corporate, limited
liability company or partnership power and authority, as applicable, to carry on its business as
now conducted.

2. The Transactions to be entered into by each Loan Party are within such Loan Party’s corporate,
limited liability company or partnership powers, as applicable, and have been duly authorized by
all necessary corporate, limited liability company or partnership approval, as applicable and, if
required, stockholder or member approval. The Credit Agreement and each other Loan Document have
been duly executed and delivered by each Loan Party, to the extent a party thereto.

3. The Transactions contemplated by the Credit Agreement, with respect to the Loan Parties, (a) do
not require any consent or approval of, registration or filing with, or any other action by, any
Governmental Authority, except (i) such as have been obtained or made and are in full force and
effect, and (ii) for such consents, approvals, registrations, filings or actions the failure of
which to obtain, singly or in the aggregate, would not reasonably be expected to result in a
Material Adverse Effect, (b) will not violate any Covered Law (as hereinafter defined) or any order
of any Governmental Authority known to me which is binding upon a Loan Party, except to the extent
that any such violation, singly or in the aggregate with all other such violations, would not
reasonably be expected to result in a Material Adverse Effect, (c) will not violate or result in a
default under any of the debt instruments or other agreements relating to any existing indebtedness
of the Company or any of the Subsidiaries as set forth in Schedule III hereto, (d) will not violate
the Certificate of Incorporation, By-laws or other organizational documents of any Loan Party, and
(e) will not result in the creation or imposition of any Lien on any asset of any Loan Party.

4. To my knowledge, there is no litigation or other proceedings pending or threatened against
Borrower or any of its subsidiaries, (i) as to which there is a reasonable likelihood of an adverse
determination and that, if adversely determined, could reasonably be expected, individually or in
the aggregate, to result in a Material Adverse Effect or (ii) that involve any of the Loan
Documents or the Transactions.

Form of Opinion of John G. Chou, General Counsel of the Company

 

F-2-1

 

EXHIBIT F-3

Form of Opinion of McCarthy Tétrault, Counsel for the Canadian Borrowing Subsidiaries

AB Canada

	1.	 	AB Canada is a corporation incorporated and existing under the Canada Business Corporations
Act (Canada);

	2.	 	AB Canada has the corporate power and capacity to execute and deliver the Credit Agreement
and to perform its obligations thereunder;

	3.	 	AB Canada has taken all necessary corporate action to authorize the execution and delivery of
the Credit Agreement and the performance of its obligations thereunder;
	 
	4.	 	AB Canada has duly executed and delivered the Credit Agreement;

	5.	 	the execution and delivery by AB Canada of the Credit Agreement does not, and the performance
by AB Canada of its obligations thereunder does not and will not:

	 	a)	 	contravene or result in a breach of or constitute a default under its
articles or by-laws; or
	 
	 	b)	 	contravene any Relevant Law binding on or applicable to it;

AB Specialty

	6.	 	AB Specialty is a corporation incorporated and existing under the Canada Business
Corporations Act (Canada);

	7.	 	AB Specialty has the corporate power and capacity to execute and deliver the Credit Agreement
and to perform its obligations thereunder;

	8.	 	AB Specialty has taken all necessary corporate action to authorize the execution and delivery
of the Credit Agreement and the performance of its obligations thereunder;
	 
	9.	 	AB Specialty has duly executed and delivered the Credit Agreement;

	10.	 	the execution and delivery by AB Specialty of the Credit Agreement does not, and the
performance by AB Specialty of its obligations thereunder does not and will not:

	 	a)	 	contravene or result in a breach of or constitute a default under its
articles or by-laws; or
	 
	 	b)	 	contravene any Relevant Law binding on or applicable to it;

Innomar

	11.	 	Innomar is a corporation incorporated and existing under the Business Corporations Act
(Ontario);

	12.	 	Innomar has the corporate power and capacity to execute and deliver the Credit Agreement and
to perform its obligations thereunder;

Form of Opinion of McCarthy Tétrault, Counsel for the Canadian Borrowing Subsidiaries

 

F-3-1

 

	13.	 	Innomar has taken all necessary corporate action to authorize the execution and delivery of
the Credit Agreement and the performance of its obligations thereunder;
	 
	14.	 	Innomar has duly executed and delivered the Credit Agreement;

	15.	 	the execution and delivery by Innomar of the Credit Agreement does not, and the performance
by Innomar of its obligations thereunder does not and will not:

	 	a)	 	contravene or result in a breach of or constitute a default under its
articles or by-laws; or
	 
	 	b)	 	contravene any Relevant Law binding on or applicable to it;

Canadian Loan Parties

	16.	 	it is not necessary that the Credit Agreement, or any other document, be filed, recorded or
enrolled with any governmental authority or regulatory body or that any stamp, registration or
similar transaction tax be paid with respect thereto in order to ensure the legality,
validity, enforceability or, except for compliance with the rules of the relevant court, the
admissibility into evidence of the Credit Agreement in the Province of Ontario. There is no
legislation in the Province of Ontario that requires the Credit Agreement to be in a
particular legal form for the effectiveness and enforcement thereof in the courts of the
Province of Ontario;

	17.	 	each of the Canadian Loan Parties has the power to submit to, and, assuming such submission
is valid, binding and enforceable under the laws of the State of New York, pursuant to Section
11.09 of the Credit Agreement (and subject to the limitations contained therein) has legally,
validly, effectively and irrevocably submitted to, the exclusive jurisdiction of the Supreme
Court of the State of New York sitting in New York County and of the United States District
Court of the Southern District of New York and any appellate court thereof in respect of any
legal action, suit or proceeding arising out of the Credit Agreement. Such submission will be
recognized and given effect by a court of competent jurisdiction in the Province of Ontario,
provided that a court may, in its discretion, refuse to give effect to such submission if it
finds there is a strong cause to do so;

	18.	 	A court of competent jurisdiction in the Province of Ontario would give a judgment based upon
a final and conclusive in personam judgment of a court exercising jurisdiction in the State of
New York for a sum certain, obtained against any Canadian Loan Party with respect to a claim
arising out of the Credit Agreement (a “Foreign Judgment”), without reconsideration of the
merits:

	 	a)	 	provided that:

	 	i)	 	an action to enforce the Foreign Judgment must be commenced
in the court in the Province of Ontario within any applicable limitation
period;

	 	ii)	 	such court has discretion to stay or decline to hear an
action on the Foreign Judgment if the Foreign Judgment is under appeal or
there is another subsisting judgment in any jurisdiction relating to the same
cause of action as the Foreign Judgment;

Form of Opinion of McCarthy Tétrault, Counsel for the Canadian Borrowing Subsidiaries

 

F-3-2

 

	 	iii)	 	such court will render judgment only in Canadian dollars; and
	 
	 	iv)	 	an action in such court on the Foreign Judgment may be
affected by bankruptcy, insolvency or other laws of general application
limiting the enforcement of creditors’ rights generally; and

	 	b)	 	subject to the following defences:

	 	i)	 	the Foreign Judgment was obtained by fraud or in a manner
contrary to the principles of natural justice;

	 	ii)	 	the Foreign Judgment is for a claim that under the laws of
the Province of Ontario or the laws of Canada applicable therein would be
characterized as based on a foreign revenue, expropriatory, penal or other
public law;

	 	iii)	 	the Foreign Judgment is contrary to public policy, as such
term is interpreted under the laws of the Province of Ontario and the laws of
Canada applicable therein, or to an order made by the Attorney General of
Canada under the Foreign Extraterritorial Measures Act (Canada) or by the
Competition Tribunal under the Competition Act (Canada) in respect of certain
judgments referred to in these statutes; and

	 	iv)	 	the Foreign Judgment has been satisfied or is void or
voidable under the laws of the State of New York.

Form of Opinion of McCarthy Tétrault, Counsel for the Canadian Borrowing Subsidiaries

 

F-3-3

 

EXHIBIT F-4

Form of Opinion of Morgan, Lewis & Bockius LLP, Counsel for the UK Borrowing

Subsidiaries

	1.1	 	Status: The Companies are limited companies, in good standing, duly incorporated and
subsisting under the laws of England. So far as is discoverable from the searches referred to
at paragraph 2 above, neither Company is in liquidation, no order or resolution for the
winding-up of either Company has been made and no receiver, administrative receiver,
administrator or liquidator (or any of its assets or properties) has been appointed in respect
of either Company.

	1.2	 	Powers and Authority: The Companies have requisite corporate power and authority to carry on
the business disclosed in their respective Company Memorandum and Articles of Association. The
Companies have the requisite corporate power and authority to enter into, deliver, and perform
their obligations under the Documents and have taken all necessary corporate action to
authorise the entry into, delivery and performance of its obligations under the Documents. The
Companies have duly executed and delivered the Documents.

	1.3	 	Non-Conflict with Constitution: The entry into, delivery and performance by the Companies of
their obligations under the Documents will not violate or conflict with their respective
Company Memorandum and Articles of Association or any English law of general application.
	 
	1.4	 	Binding effect
	 
	 	 	The obligations expressed to be assumed by each Company under the
Credit Agreement constitute legal, valid, binding and enforceable
obligations of that Company under English law.
	 
	1.5	 	Further acts and filings

It is not necessary, in order to ensure the legality, validity, enforceability or
admissibility in evidence of the Credit Agreement in England:

	 	1.5.1	 	that any consents, authorisations, approvals or licenses of any court or
governmental, judicial or regulatory authority in England be obtained by the parties
thereto; or

	 	1.5.2	 	that the Credit Agreement be filed, registered, recorded or enrolled with
any court or governmental authority in England.

	1.6	 	UK Stamp taxes

No United Kingdom ad valorem stamp duty, stamp duty reserve tax or issue, documentary,
registration or other similar tax imposed by any government department of or in the United
Kingdom is or will become payable upon the execution and delivery of the Documents.

Form of Opinion of Morgan, Lewis & Bockius LLP, Counsel for the UK Borrowing Subsidiaries

 

F-4-1

 

	1.7	 	Choice of Law
	 
	 	 	Subject as provided herein, the express choice of the law of the State of New York as
the governing law of the Credit Agreement will be recognised and given effect by the
English Courts.

	1.8	 	No conflict

The execution, delivery and performance by the Companies of the Documents does not conflict
with any existing English law or regulation having the force of law in England and Wales
applicable to companies generally.

	1.9	 	Enforcement of Foreign Judgments

A judgment of a relevant court sitting in the State of New York relating to the relevant
Document, provided it is recognised by the English courts as having jurisdiction to give
that judgment, should be capable of enforcement by instituting fresh proceedings in the
English courts (upon which summary judgment may be obtained) without a retrial or
re-examination of the matters thereby adjudicated, provided that a person may have defences
open to it and enforcement may not be permitted if, inter-alia:

	 	1.9.1	 	the judgment was obtained by fraud;

	 	1.9.2	 	enforcement of the judgment would be contrary to public policy or English
law;
	 
	 	1.9.3	 	the judgment relates to foreign penal or revenue laws;
	 
	 	1.9.4	 	the judgment was obtained in proceedings contrary to natural justice;
	 
	 	1.9.5	 	enforcement is not sought in good faith;
	 
	 	1.9.6	 	the judgment amounts to judgment on a matter previously determined by an
English court or conflicts with a judgment on the same matter given by another court;
	 
	 	1.9.7	 	the judgment is given in proceedings brought in breach of an agreement for
the settlement of disputes;

	 	1.9.8	 	enforcement of the judgment is restricted by the provisions of the UK
Protection of Trading Interests Act, 1980;

	 	1.9.9	 	enforcement proceedings are not commenced within six years of the date of
such judgment;
	 
	 	1.9.10	 	the judgment is not for a debt or fixed sum;
	 
	 	1.9.11	 	the judgment is not final and conclusive; or

	 	1.9.12	 	the judgment is made in respect of the public law of a foreign state or
jurisdiction.

Form of Opinion of Morgan, Lewis & Bockius LLP, Counsel for the UK Borrowing Subsidiaries

 

F-4-2

 

However, in any enforcement proceedings, the defendant may raise any counterclaim that
could have been brought if the action had been originally brought in England unless the
subject of the counterclaim was in issue and refuted in the foreign proceedings.

	1.10	 	The Companies are, as a matter of English law, able to submit to the jurisdiction of any
State or United States Federal Court in the City of New York and the County of New York.

	1.11	 	Each Company can bring a claim and have a claim brought against it in its respective
individual legal capacity under the laws of England.

	1.12	 	Neither of the Companies is entitled to claim immunity from suit, execution, attachment or
similar legal process in England.

Form of Opinion of Morgan, Lewis & Bockius LLP, Counsel for the UK Borrowing Subsidiaries

 

F-4-3exv4w1

Exhibit 4.1

EXECUTION
VERSION

 

MCJUNKIN RED MAN CORPORATION

9.50% SENIOR SECURED NOTES DUE 2016

 

INDENTURE

Dated as of December 21, 2009

 

U.S. BANK NATIONAL ASSOCIATION

as Trustee

 

 

 

CROSS-REFERENCE TABLE*

	 	 	 	 	 	 
	Trust Indenture	 	 	 
	Act Section	 	Indenture Section	 
	310	(a)(1) 	 	 	7.08; 7.10	 
	 	(a)(2) 	 	 	7.10	 
	 	(a)(3) 	 	 	N.A.	 
	 	(a)(4) 	 	 	N.A.	 
	 	(a)(5) 	 	 	7.10	 
	 	(b) 	 	 	7.10	 
	 	(c) 	 	 	N.A.	 
	311	(a) 	 	 	7.11	 
	 	(b) 	 	 	7.11	 
	 	(c) 	 	 	N.A.	 
	312	(a) 	 	 	2.05	 
	 	(b) 	 	 	13.03	 
	 	(c) 	 	 	13.03	 
	313	(a) 	 	 	7.06	 
	 	(b)(1) 	 	 	10.05	 
	 	(b)(2) 	 	 	7.06; 7.07	 
	 	(c) 	 	 	7.06;13.02	 
	 	(d) 	 	 	7.06	 
	314	(a) 	 	 	4.03;13.02; 13.05	 
	 	(b) 	 	 	N/A	 
	 	(c)(1) 	 	 	13.04	 
	 	(c)(2) 	 	 	13.04	 
	 	(c)(3) 	 	 	N.A.	 
	 	(d) 	 	 	10.05	 
	 	(e) 	 	 	13.05	 
	 	(f) 	 	 	N.A.	 
	315	(a) 	 	 	7.01	 
	 	(b) 	 	 	7.05; 12.02	 
	 	(c) 	 	 	7.01	 
	 	(d) 	 	 	7.01	 
	 	(e) 	 	 	6.11	 
	316	(a) (last sentence) 	 	 	2.09	 
	 	(a)(1)(A) 	 	 	6.05	 
	 	(a)(1)(B) 	 	 	6.04	 
	 	(a)(2) 	 	 	N.A.	 
	 	(b) 	 	 	6.07	 
	 	(c) 	 	 	2.12	 
	317	(a)(1) 	 	 	6.08	 
	 	(a)(2) 	 	 	6.09	 
	 	(b) 	 	 	2.04	 
	318	(a) 	 	 	13.01	 
	 	(b) 	 	 	N.A.	 
	 	(c) 	 	 	13.01	 

N.A. means not applicable.

 

			
	*	 	This Cross Reference Table is not part of the Indenture.

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	ARTICLE 1
DEFINITIONS AND INCORPORATION 
BY REFERENCE	 	 	 	 
	 
	Section 1.01 Definitions
	 	 	1	 
	Section 1.02 Other Definitions
	 	 	43	 
	Section 1.03 Incorporation by Reference of Trust Indenture Act
	 	 	44	 
	Section 1.04 Rules of Construction
	 	 	44	 
	 
	ARTICLE 2
THE NOTES	 	 	 	 
	 
	Section 2.01 Form and Dating
	 	 	45	 
	Section 2.02 Execution and Authentication
	 	 	46	 
	Section 2.03 Registrar and Paying Agent
	 	 	46	 
	Section 2.04 Paying Agent to Hold Money in Trust
	 	 	47	 
	Section 2.05 Holder Lists
	 	 	47	 
	Section 2.06 Transfer and Exchange
	 	 	47	 
	Section 2.07 Replacement Notes
	 	 	60	 
	Section 2.08 Outstanding Notes
	 	 	60	 
	Section 2.09 Treasury Notes
	 	 	60	 
	Section 2.10 Temporary Notes
	 	 	60	 
	Section 2.11 Cancellation
	 	 	61	 
	Section 2.12 Defaulted Interest
	 	 	61	 
	 
	ARTICLE 3
REDEMPTION AND PREPAYMENT	 	 	 	 
	 
	Section 3.01 Notices to Trustee
	 	 	61	 
	Section 3.02 Selection of Notes to Be Redeemed or Purchased
	 	 	61	 
	Section 3.03 Notice of Redemption
	 	 	62	 
	Section 3.04 Effect of Notice of Redemption
	 	 	63	 
	Section 3.05 Deposit of Redemption or Purchase Price
	 	 	63	 
	Section 3.06 Notes Redeemed or Purchased in Part
	 	 	63	 
	Section 3.07 Optional Redemption
	 	 	63	 
	Section 3.08 Mandatory Redemption
	 	 	64	 
	Section 3.09 Offer to Purchase by Application of Excess Proceeds
	 	 	64	 
	 
	ARTICLE 4
COVENANTS	 	 	 	 
	 
	Section 4.01 Payment of Notes
	 	 	66	 
	Section 4.02 Maintenance of Office or Agency
	 	 	66	 
	Section 4.03 Reports
	 	 	67	 
	Section 4.04 Compliance Certificate
	 	 	68	 
	Section 4.05 Taxes
	 	 	69	 
	Section 4.06 Stay, Extension and Usury Laws
	 	 	69	 
	Section 4.07 Restricted Payments
	 	 	69	 
	Section 4.08 Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries
	 	 	75	 
	Section 4.09 Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock
	 	 	77	 
	Section 4.10 Asset Sales
	 	 	81	 
	Section 4.11 Transactions with Affiliates
	 	 	84	 

 

 

	 	 	 	 	 
	Section 4.12 Liens
	 	 	86	 
	Section 4.13 Corporate Existence
	 	 	86	 
	Section 4.14 Offer to Repurchase Upon Change of Control
	 	 	87	 
	Section 4.15 Limitation on Layering
	 	 	88	 
	Section 4.16 Designation of Restricted and Unrestricted Subsidiaries
	 	 	88	 
	Section 4.17 Guarantees
	 	 	89	 
	Section 4.18 Changes in Covenants When Notes Rated Investment Grade
	 	 	90	 
	 
	ARTICLE 5
SUCCESSORS	 	 	 	 
	 
	Section 5.01 Merger, Consolidation or Sale of Assets
	 	 	90	 
	Section 5.02 Successor Corporation Substituted
	 	 	91	 
	 
	ARTICLE 6
DEFAULTS AND REMEDIES	 	 	 	 
	 
	Section 6.01 Events of Default
	 	 	92	 
	Section 6.02 Acceleration
	 	 	94	 
	Section 6.03 Other Remedies
	 	 	95	 
	Section 6.04 Waiver of Past Defaults
	 	 	95	 
	Section 6.05 Control by Majority
	 	 	95	 
	Section 6.06 Limitation on Suits
	 	 	95	 
	Section 6.07 Rights of Holders of Notes to Receive Payment
	 	 	96	 
	Section 6.08 Collection Suit by Trustee
	 	 	96	 
	Section 6.09 Trustee May File Proofs of Claim
	 	 	96	 
	Section 6.10 Priorities
	 	 	97	 
	Section 6.11 Undertaking for Costs
	 	 	97	 
	 
	ARTICLE 7
TRUSTEE	 	 	 	 
	 
	Section 7.01 Duties of Trustee
	 	 	97	 
	Section 7.02 Rights of Trustee
	 	 	98	 
	Section 7.03 Individual Rights of Trustee
	 	 	99	 
	Section 7.04 Trustee’s Disclaimer
	 	 	100	 
	Section 7.05 Notice of Defaults
	 	 	100	 
	Section 7.06 Reports by Trustee to Holders of the Notes
	 	 	100	 
	Section 7.07 Compensation and Indemnity
	 	 	100	 
	Section 7.08 Replacement of Trustee
	 	 	101	 
	Section 7.09 Successor Trustee by Merger, etc.
	 	 	102	 
	Section 7.10 Eligibility; Disqualification
	 	 	102	 
	Section 7.11 Preferential Collection of Claims Against Company
	 	 	102	 
	 
	ARTICLE 8
LEGAL DEFEASANCE AND COVENANT DEFEASANCE	 	 	 	 
	 
	Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	102	 
	Section 8.02 Legal Defeasance and Discharge
	 	 	103	 
	Section 8.03 Covenant Defeasance
	 	 	103	 
	Section 8.04 Conditions to Legal or Covenant Defeasance
	 	 	104	 
	Section 8.05 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions
	 	 	105	 
	Section 8.06 Repayment to Company
	 	 	105	 
	Section 8.07 Reinstatement
	 	 	106	 

ii

 

	 	 	 	 	 
	ARTICLE 9
AMENDMENT, SUPPLEMENT AND WAIVER	 	 	 	 
	 
	Section 9.01 Without Consent of Holders of Notes
	 	 	106	 
	Section 9.02 With Consent of Holders of Notes
	 	 	108	 
	Section 9.03 Compliance with Trust Indenture Act
	 	 	110	 
	Section 9.04 Revocation and Effect of Consents
	 	 	110	 
	Section 9.05 Notation on or Exchange of Notes
	 	 	110	 
	Section 9.06 Trustee to Sign Amendments, etc.
	 	 	110	 
	 
	ARTICLE 10
COLLATERAL AND SECURITY	 	 	 	 
	 
	Section 10.01 Equal and Ratable Sharing of Collateral by Holders of Priority Lien Debt
	 	 	111	 
	Section 10.02 Ranking of Subordinated Liens
	 	 	111	 
	Section 10.03 Release of Liens in Respect of Notes
	 	 	111	 
	Section 10.04 Relative Rights
	 	 	112	 
	Section 10.05 Compliance with Trust Indenture Act
	 	 	112	 
	Section 10.06 Collateral Trustee
	 	 	113	 
	Section 10.07 Further Assurances
	 	 	113	 
	Section 10.08 Insurance
	 	 	113	 
	Section 10.09 Real Property
	 	 	114	 
	Section 10.10 Recording, Registration and Opinions
	 	 	115	 
	 
	ARTICLE 11
NOTE GUARANTEES	 	 	 	 
	 
	Section 11.01 Guarantee
	 	 	115	 
	Section 11.02 Limitation on Guarantor Liability
	 	 	116	 
	Section 11.03 Execution and Delivery of Note Guarantee
	 	 	116	 
	Section 11.04 Guarantors May Consolidate, etc., on Certain Terms
	 	 	117	 
	Section 11.05 Releases
	 	 	118	 
	 
	ARTICLE 12
SATISFACTION AND DISCHARGE	 	 	 	 
	 
	Section 12.01 Satisfaction and Discharge
	 	 	119	 
	Section 12.02 Application of Trust Money
	 	 	120	 
	 
	ARTICLE 13
MISCELLANEOUS	 	 	 	 
	 
	Section 13.01 Trust Indenture Act Controls
	 	 	120	 
	Section 13.02 Notices
	 	 	120	 
	Section 13.03 Communication by Holders of Notes with Other Holders of Notes.

	 	 	122	 
	Section 13.04 Certificate and Opinion as to Conditions Precedent
	 	 	122	 
	Section 13.05 Statements Required in Certificate or Opinion
	 	 	122	 
	Section 13.06 Rules by Trustee and Agents
	 	 	122	 
	Section 13.07 No Personal Liability of Directors, Officers, Employees, Incorporators and Stockholders
	 	 	122	 
	Section 13.08 Governing Law
	 	 	123	 
	Section 13.09 No Adverse Interpretation of Other Agreements
	 	 	123	 
	Section 13.10 Successors
	 	 	123	 
	Section 13.11 Severability
	 	 	123	 
	Section 13.12 Counterpart Originals
	 	 	123	 

iii

 

	 	 	 	 	 
	Section 13.13 Table of Contents, Headings, etc.
	 	 	123	 
	Section 13.14 Conflicts with Intercreditor Agreement or Collateral Trust Agreement

	 	 	123	 

EXHIBITS

	 	 	 

	Exhibit A1

	 	FORM OF NOTE
	Exhibit A2

	 	FORM OF REGULATION S TEMPORARY GLOBAL NOTE
	Exhibit B

	 	FORM OF CERTIFICATE OF TRANSFER
	Exhibit C

	 	FORM OF CERTIFICATE OF EXCHANGE
	Exhibit D

	 	FORM OF CERTIFICATE OF ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR
	Exhibit E

	 	FORM OF NOTATION OF GUARANTEE
	Exhibit F

	 	FORM OF SUPPLEMENTAL INDENTURE
	Exhibit G

	 	LIST OF INITIAL MORTGAGE PROPERTIES

iv

 

     INDENTURE dated as of December 21, 2009 among McJunkin Red Man Corporation, a West Virginia
corporation, the Guarantors (as defined) and U.S. Bank National Association, as trustee.

     The Company, the Guarantors and the Trustee agree as follows for the benefit of each other and
for the equal and ratable benefit of the Holders (as defined) of the 9.50% Senior Secured Notes due
2016 (the “Notes”):

ARTICLE 1

DEFINITIONS AND INCORPORATION

BY REFERENCE

Section 1.01 Definitions.

     “144A Global Note” means a Global Note substantially in the form of Exhibit A1 hereto bearing
the Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and
registered in the name of, the Depositary or its nominee that will be issued, together with all
other 144A Global Notes, in a denomination equal to the outstanding principal amount of the Notes
sold in reliance on Rule 144A.

     “ABL Collateral Agent” means The CIT Group/Business Credit Inc. and Bank of America, N.A.,
each as co-collateral agent under the ABL Credit Facility, collectively in such capacity and
together with any other collateral agent, collateral trustee or other representative of lenders or
holders of ABL Debt Obligations that becomes party to the Intercreditor Agreement upon the
refinancing or replacement of the ABL Credit Facility, or any successor representative acting in
such capacity.

     “ABL Credit Facility” means that certain $900,000,000 Revolving Loan Credit Agreement, dated
as of October 31, 2007, as amended by the First Amendment, dated as of December 21, 2009, among the
Company (f/k/a McJunkin Corporation), the several lenders from time to time party thereto, Goldman
Sachs Credit Partners L.P. and Lehman Brothers Inc., as co-lead arrangers and joint bookrunners,
The CIT Group/Business Credit Inc., as administrative agent and co-collateral agent, Bank of
America, N.A., as co-collateral agent and syndication agent, and JPMorgan Chase Bank, N.A.,
Wachovia Bank. N.A., and PNC Bank, National Association, as co-documentation agents, and any
related notes, guarantees, collateral documents, instruments and agreements executed in connection
therewith, and in each case as further amended, restated, adjusted, waived, renewed, modified,
refunded, replaced, restated, restructured, increased, supplemented or refinanced in whole or in
part from time to time, regardless of whether such amendment, restatement, adjustment, waiver,
modification, renewal, refunding, replacement, restatement, restructuring, increase, supplement or
refinancing is with the same financial institutions (whether as agents or lenders) or otherwise and
any indentures or credit facilities or commercial paper facilities that replace, refund or
refinance any part of the loans, notes, or other commitments thereunder, including any such
replacement, refunding or refinancing facility or indenture that increases the amount borrowable
thereunder or alters the maturity thereof.

     “ABL Debt” means

     (1) Indebtedness outstanding under the ABL Credit Facility on the date of this
Indenture or incurred from time to time after the date of this Indenture under the ABL
Credit Facility; and

     (2) additional Indebtedness (including letters of credit and reimbursement
obligations with respect thereto) of the Company or any Subsidiary Guarantor secured by
Liens

1

 

on ABL Priority Collateral; provided, in the case of any additional Indebtedness
referred to in this clause (2), that:

          (a) on or before the date on which such additional Indebtedness is incurred by the
Company or such Guarantor, as applicable, such additional Indebtedness is designated by the
Company, in an Officers’ Certificate delivered to the Collateral Trustee, as “ABL Debt” for
purposes of the Secured Debt Documents; provided, that such Indebtedness may not be
designated as both ABL Debt and Priority Lien Debt, or designated as both ABL Debt and
Subordinated Lien Debt; and

          (b) the collateral agent or other representative with respect to such Indebtedness,
the ABL Collateral Agent, the Collateral Trustee, the Company and each applicable Guarantor
have duly executed and delivered the Intercreditor Agreement (or a joinder to the
Intercreditor Agreement or a new intercreditor agreement substantially similar to the
Intercreditor Agreement, as in effect on the date of this Indenture, and in a form
reasonably acceptable to each of the parties thereto).

     “ABL Debt Documents” means the ABL Credit Facility, any additional credit agreement or
indenture related thereto and all other loan documents, security documents, notes, guarantees,
instruments and agreements governing or evidencing, or executed or delivered in connection with,
the ABL Credit Facility, as such agreements or instruments may be amended or supplemented from time
to time.

     “ABL Debt Obligations” means ABL Debt incurred or arising under the ABL Debt Documents and all
other Obligations (excluding any Obligations that would constitute ABL Debt) in respect thereof,
together with (1) Banking Product Obligations of the Company or any Subsidiary Guarantor relating
to services provided to the Company or any Guarantor that are secured, or intended to be secured,
by the ABL Debt Documents if the provider of such Banking Product Obligations has agreed to be
bound by the terms of the Intercreditor Agreement or such provider’s interest in the ABL Priority
Collateral is subject to the terms of the Intercreditor Agreement; and (2) Hedging Obligations that
are secured, or intended to be secured, under the ABL Debt Documents if the provider of such
Hedging Obligations has agreed to be bound by the terms of the Intercreditor Agreement or such
provider’s interest in the ABL Priority Collateral is subject to the terms of the Intercreditor
Agreement.

     “ABL Lien Cap” means, as of any date of determination, the greater of (1) $1.25 billion and
(2) the amount of the Borrowing Base as of such date, after giving pro forma effect to the
incurrence of any ABL Debt and the application of the net proceeds therefrom.

     “ABL Priority Collateral” means all accounts, inventory or documents of title, customs
receipts, insurance certificates, shipping documents and other written materials related to the
purchase or import of any inventory, all letter of credit rights, chattel paper, instruments,
investment property and general intangibles pertaining to the foregoing, deposit accounts (other
than the Net Available Cash Account, to the extent that it constitutes a deposit account) and
securities accounts (other than the Net Available Cash Account, to the extent it constitutes a
securities account), including all cash, marketable securities, securities entitlements, financial
assets and other funds held in or on deposit in any of the foregoing, all records, “supporting
obligations” (as defined in Article 9 of the UCC) and related letters of credit, commercial tort
claims or other claims and causes of action, in each case, to the extent not primarily related to
the Notes Priority Collateral and, to the extent not otherwise included, all substitutions,
replacements, accessions, products and proceeds (including, without limitation, insurance proceeds,
investment property, licenses, royalties, income, payments, claims, damages and proceeds of suit)
of any or all of the foregoing, in each case held by the Company and the Subsidiary Guarantors,
other than the Excluded ABL Assets.

2

 

     “Acquired Debt” means, with respect to any specified Person:

     (1) Indebtedness of any other Person existing at the time such other Person is
merged with or into, or becomes a Subsidiary of, such specified Person, whether or not such
Indebtedness is incurred in connection with, or in contemplation of, such other Person
merging with or into, or becoming a Subsidiary of, such specified Person; and

     (2) Indebtedness secured by a Lien encumbering any asset acquired by the specified
Person.

     “Act of Required Debtholders” means, as to any matter at any time:

     (1) prior to the Discharge of Priority Lien Obligations, a direction in writing
delivered to the Collateral Trustee by or with the written consent of the holders of at
least 50.1% of the sum of:

          (a) the aggregate outstanding principal amount of Priority Lien Debt (including
outstanding letters of credit whether or not then drawn); and

          (b) other than in connection with the exercise of remedies, the aggregate unfunded
commitments to extend credit which, when funded, would constitute Priority Lien Debt; and

     (2) at any time after the Discharge of Priority Lien Obligations, a direction in
writing delivered to the Collateral Trustee by or with the written consent of the holders of
Subordinated Lien Debt representing the Required Subordinated Lien Debtholders.

     For purposes of this definition, (a) Secured Debt registered in the name of, or beneficially
owned by, the Company or any Affiliate of the Company will be deemed not to be outstanding, and (b)
votes will be determined in accordance with Section 7.2 of the Collateral Trust Agreement.

     “Additional Notes” means additional Notes (other than the Initial Notes) issued under this
Indenture in accordance with Sections 2.02, 4.09 and 4.12 hereof, as part of the same series as the
Initial Notes. Additional Notes may or may not be fungible with the Initial Notes or any other
Additional Notes for U.S. federal income tax purposes.

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

     “Agent” means any Registrar, co-registrar, Paying Agent or additional paying agent.

     “Agent’s Message” means a message transmitted by DTC to, and received by, the Depositary and
forming a part of the book—entry confirmation, which states that DTC has received an express
acknowledgement from each participant in DTC tendering the Notes that such participants have
received the Letter of Transmittal and agreed to be bound by the terms of the Letter of Transmittal
and the Company may enforce such agreement against such participants.

3

 

     “Applicable Premium” means, with respect to any Note on any redemption date, the greater of:

     (1) 1.0% of the principal amount of the Note; or

     (2) the excess of:

          (a) the present value at such redemption date of (i) the redemption price of the
Note at December 15, 2012 (such redemption price being set forth in the table appearing in
Section 3.07(e)), plus (ii) all required interest payments due on the Note through December
15, 2012 (excluding accrued but unpaid interest to the redemption date), computed using a
discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points;
over

          (b) the principal amount of the Note.

     “Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial
interests in any Global Note, the rules and procedures of the Depositary, Euroclear and/or
Clearstream that apply to such transfer or exchange.

     “Asset Sale” means:

     (1) the sale, lease (other than operating leases in the ordinary course of
business), conveyance or other disposition of any property or assets, other than Equity
Interests of the Company; provided that the sale, lease, conveyance or other disposition of
all or substantially all of the assets of the Company and the Company’s Restricted
Subsidiaries taken as a whole shall be governed by Section 4.14 and/or Section 5.01 hereof
and not by Section 4.10 hereof; and

     (2) the issuance of Equity Interests by any of the Company’s Restricted
Subsidiaries or the sale by the Company or any Restricted Subsidiary thereof of Equity
Interests in any of its Restricted Subsidiaries (other than directors’ qualifying shares).

     Notwithstanding the preceding, the following items shall be deemed not to be Asset Sales:

     (1) any single transaction or series of related transactions that involves property
or assets having a Fair Market Value of less than $15.0 million;

     (2) a transfer of property or assets between or among the Company and its
Restricted Subsidiaries;

     (3) an issuance of Equity Interests by a Restricted Subsidiary of the Company to
the Company or to another Restricted Subsidiary thereof;

     (4) the sale, lease, assignment, license or sublease of equipment, inventory,
accounts receivable or other assets in the ordinary course of business (including, without
limitation, any ABL Priority Collateral);

     (5) the sale or other disposition of cash or Cash Equivalents;

     (6) a Restricted Payment that is permitted by Section 4.07 hereof or a Permitted
Investment;

4

 

     (7) any sale, exchange or other disposition of any property or equipment that has
become damaged, worn out, obsolete or otherwise unsuitable or unnecessary for use in
connection with the business of the Company or its Restricted Subsidiaries;

     (8) the licensing or sub-licensing of intellectual property in the ordinary course
of business or consistent with past practice;

     (9) any sale or other disposition deemed to occur with creating, granting or
perfecting a Lien not otherwise prohibited by this Indenture or the Note Documents;

     (10) any issuance or sale of Equity Interests in, or Indebtedness or other
securities of, an Unrestricted Subsidiary;

     (11) the surrender or waiver of contract rights or settlement, release or surrender
of a contract, tort or other litigation claim in the ordinary course of business;

     (12) foreclosures, condemnations or any similar action on assets;

     (13) the lease, assignment or sub-lease of any real or personal property in the
ordinary course of business; and

     (14) the sale of Non-Core Assets.

     “Attributable Debt” in respect of a Sale and Leaseback Transaction means, at the time of
determination, the present value of the obligation of the lessee for net rental payments during the
remaining term of the lease included in such Sale and Leaseback Transaction, including any period
for which such lease has been extended or may, at the option of the lessor, be extended. Such
present value shall be calculated using a discount rate equal to the rate of interest implicit in
such transaction, determined in accordance with GAAP.

     “Banking Product Obligations” means, with respect to the Company or any Subsidiary Guarantor,
any obligations of the Company or such Guarantor owed to any Person in respect of treasury
management services (including, without limitation, services in connection with operating,
collections, payroll, trust, or other depository or disbursement accounts, including automated
clearinghouse, e-payable, electronic funds transfer, wire transfer, controlled disbursement,
overdraft, depositary, information reporting, lock-box and stop payment services), commercial
credit card and merchant card services, stored valued card services, other cash management
services, or lock-box leases and other banking products or services related to any of the
foregoing.

     “Bankruptcy Law” means Title 11 of the United States Code or any similar federal or state law
for the relief of debtors.

     “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under
the Exchange Act. The terms “Beneficially Owns” and “Beneficially Owned” shall have a corresponding
meaning.

     “Board of Directors” means:

     (1) with respect to a corporation, the board of directors of the corporation;

5

 

     (2) with respect to a partnership, the Board of Directors of the general partner of
the partnership; and

     (3) with respect to any other Person, the board or committee of such Person serving
a similar function.

     “Borrowing Base” means, as of any date, an amount equal to:

     (1) 85% of the face amount of all accounts receivable owned by the Company and its
Restricted Subsidiaries as of the end of the most recent month preceding such date for which
internal financial statements are available that were not more than 180 days past due; plus

     (2) 65% of the book value of all inventory owned by the Company and its Restricted
Subsidiaries as of the end of the most recent fiscal month preceding such date for which
internal financial statements are available.

     “Broker-Dealer” has the meaning set forth in the Registration Rights Agreement.

     “Business Day” means any day other than a Legal Holiday.

     “Capital Lease Obligation” means, at the time any determination thereof is to be made, the
amount of the liability in respect of a capital lease that would at that time be required to be
capitalized on a balance sheet in accordance with GAAP.

     “Capital Stock” means:

     (1) in the case of a corporation, corporate stock;

     (2) in the case of an association or business entity, any and all shares,
interests, participations, rights or other equivalents (however designated) of corporate
stock;

     (3) in the case of a partnership or limited liability company, partnership or
membership interests (whether general or limited); and

     (4) any other interest or participation that confers on a Person the right to
receive a share of the profits and losses of, or distributions of assets of, the issuing
Person.

     “Cash Equivalents” means:

     (1) United States dollars;

     (2) securities issued or directly and fully guaranteed or insured by the United
States government or any agency or instrumentality thereof (provided that the full faith and
credit of the United States is pledged in support thereof) having maturities of not more
than two years from the date of acquisition;

     (3) time deposits, demand deposits, money market deposits, certificates of deposit
and eurodollar time deposits with maturities of one year or less from the date of
acquisition, bankers’ acceptances with maturities not exceeding one year from the date of
acquisition and overnight bank deposits, in each case, with any domestic commercial bank
having capital and surplus in excess of $250.0 million (or $100.0 million in the case of a
non-U.S. bank);

6

 

     (4) repurchase obligations for underlying securities of the types set forth in
clauses (2), (3) and (7) entered into with any financial institution meeting the
qualifications specified in clause (3) above;

     (5) commercial paper rated at least P-1 by Moody’s Investors Service, Inc. or at
least A-1 by Standard & Poor’s Rating Services (or, if at any time neither Moody’s nor S&P
shall be rating such obligations, an equivalent rating from another rating agency) and in
each case maturing within two years after the date of acquisition;

     (6) marketable short-term money market and similar securities having a rating of at
least P-2 or A-2 from either Moody’s or S&P, respectively, or liquidity funds or other
similar money market mutual funds, with a rating of at least Aaa by Moody’s or AAAm by S&P
(or, if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent
rating from another rating agency);

     (7) securities issued by any state, commonwealth or territory of the United States
or any political subdivision or taxing authority of any such state, commonwealth or
territory or any public instrumentality thereof, maturing within two years from the date of
acquisition thereof and having an investment grade rating from Moody’s Investors Service,
Inc. or Standard & Poor’s Rating Services;

     (8) money market funds (or other investment funds) at least 95% of the assets of
which constitute Cash Equivalents of the kinds set forth in clauses (1) through (7) of this
definition;

     (9)

          (a) euros or any national currency of any participating member state of the EMU;

          (b) local currency held by the Company or any of its Restricted Subsidiaries from
time to time in the ordinary course of business;

          (c) securities issued or directly and fully guaranteed by the sovereign nation or
any agency thereof (provided that the full faith and credit of such sovereign nation is
pledged in support thereof) in which the Company or any of its Restricted Subsidiaries is
organized or is conducting business having maturities of not more than one year from the
date of acquisition; and

          (d) investments of the type and maturity set forth in clauses (3) through (8) above
of foreign obligors, which investments or obligors satisfy the requirements and have ratings
set forth in such clauses.

     “Change of Control” means the occurrence of any of the following:

     (1) the direct or indirect sale, transfer, conveyance or other disposition (other
than by way of merger or consolidation), in one or a series of related transactions, of all
or substantially all of the properties or assets of the Company and its Restricted
Subsidiaries, taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of
the Exchange Act) other than one or more Permitted Holders;

7

 

     (2) the adoption of a plan relating to the liquidation or dissolution of the
Company (unless, after such liquidation or dissolution, Parent assumes all of the
obligations of the Company under this Indenture and the Security Documents for the benefit
of Holders of the Notes as provided thereunder);

     (3) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of
the Exchange Act), other than one or more Permitted Holders, has become the ultimate
Beneficial Owner, directly or indirectly, of 50% or more of the voting power of the Voting
Stock of the Company; or

     (4) the first day on which a majority of the members of the Board of Directors of
the Company or the Parent are not Continuing Directors.

     “Class” means (1) in the case of Subordinated Lien Debt, every Series of Subordinated Lien
Debt, taken together, and (2) in the case of Priority Lien Debt, every Series of Priority Lien
Debt, taken together.

     “Clearstream” means Clearstream Banking, S.A.

     “Collateral” means the Notes Priority Collateral and the ABL Priority Collateral.

     “Collateral Trust Agreement” means the Collateral Trust Agreement, dated as of the date of
this Indenture, by and among the Company, the Subsidiary Guarantors, the Trustee, the other Secured
Debt Representatives from time to time party thereto and the Collateral Trustee, as amended from
time to time in accordance with its terms.

     “Collateral Trustee” means U.S. Bank National Association, in its capacity as collateral
trustee under the Collateral Trust Agreement, together with its successors in such capacity.

     “Company” means McJunkin Red Man Corporation, a West Virginia corporation, until a successor
Person shall have become such pursuant to the applicable provisions of this Indenture, and
thereafter “Company” shall mean such successor Person.

     “Consolidated Cash Flow” means, with respect to any specified Person for any period, the
Consolidated Net Income of such Person for such period plus, without duplication:

     (1) provision for taxes based on income or profits or capital gains of such Person
and its Restricted Subsidiaries for such period, including without limitation state,
franchise and similar taxes and foreign withholding taxes of such Person and its Restricted
Subsidiaries paid or accrued during such period, to the extent that such provision for taxes
was deducted in computing such Consolidated Net Income; plus

     (2) Fixed Charges of such Person and its Restricted Subsidiaries for such period
(including without limitation (x) net losses on Hedging Obligations or other derivative
instruments entered into for the purpose of hedging interest rate risk and (y) costs of
surety bonds in connection with financing activities), to the extent that any such Fixed
Charges were deducted in computing such Consolidated Net Income; plus

     (3) depreciation and amortization (including amortization or impairment write-offs
of goodwill and other intangibles but excluding amortization of prepaid cash expenses that
were paid in a prior period) of such Person and its Restricted Subsidiaries for such period
to the extent

8

 

that such depreciation and amortization was deducted in computing such Consolidated Net
Income; plus

     (4) any other non-cash expenses or charges, including any impairment charge or
asset write-offs or write-downs related to intangible assets (including goodwill),
long-lived assets, and Investments in debt and equity securities pursuant to GAAP, reducing
Consolidated Net Income for such period (provided that if any such non-cash charges
represent an accrual or reserve for potential cash items in any future period, the cash
payment in respect thereof in such future period shall be subtracted from Consolidated Cash
Flow to such extent, and excluding amortization of a prepaid cash expense or charge that
was paid in a prior period); plus

     (5) the amount of any integration costs or other business optimization expenses or
costs deducted (and not added back) in such period in computing Consolidated Net Income,
including any one-time costs incurred in connection with acquisitions and costs related to
the closure and/or consolidation of facilities; plus

     (6) the amount of any minority interest expense consisting of income of a
Restricted Subsidiary attributable to minority equity interests of third parties in any
non-Wholly Owned Restricted Subsidiary deducted (and not added back) in such period in
calculating Consolidated Net Income; plus

     (7) the amount of management, monitoring, consulting and advisory fees and related
expenses (if any) paid in such period to the Principals to the extent otherwise permitted
under the terms of this Indenture; minus

     (8) non-cash items increasing such Consolidated Net Income for such period, other
than the accrual of revenue in the ordinary course of business,

     in each case, on a consolidated basis and determined in accordance with GAAP.

     “Consolidated Net Income” means, with respect to any specified Person for any period, the
aggregate of the Net Income of such Person and its Subsidiaries for such period, on a consolidated
basis, determined in accordance with GAAP; provided that:

     (1) the Net Income of any Person, other than the specified Person, that is not a
Restricted Subsidiary of the specified Person or that is accounted for by the equity method
of accounting shall not be included, except that Consolidated Net Income shall be increased
by the amount of dividends or distributions or other payments that are paid in cash (or to
the extent converted into cash) or Cash Equivalents to the specified Person or a Restricted
Subsidiary thereof during such period;

     (2) solely for the purpose of determining the amount available for Restricted
Payments under clause 3(A) of Section 4.07(a), the Net Income of any Restricted Subsidiary
(other than any Subsidiary Guarantor) shall be excluded to the extent that the declaration
or payment of dividends or similar distributions by that Restricted Subsidiary of that Net
Income is not at the date of determination permitted without any prior governmental approval
(that has not been obtained) or, directly or indirectly, by operation of the terms of its
charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental
regulation applicable to that Restricted Subsidiary or its equityholders, unless such
restrictions with respect to the declaration and payment of dividends or distributions have
been properly waived for such entire period; provided that Consolidated Net Income will be
increased by the amount of dividends or other

9

 

distributions or other payments paid in cash (or to the extent converted into cash) or
Cash Equivalents to the Company or a Restricted Subsidiary thereof in respect of such
period, to the extent not already included therein;

     (3) the cumulative effect of a change in accounting principles shall be excluded;

     (4) any amortization of fees or expenses that have been capitalized shall be
excluded;

     (5) non-cash charges relating to employee benefit or management compensation plans
of the Company or any Restricted Subsidiary thereof or any non-cash compensation charge
arising from any grant of stock, stock options or other equity-based awards for the benefit
of the members of the Board of Directors of Parent or the Company or employees of Parent or
the Company and its Restricted Subsidiaries shall be excluded (other than in each case any
non-cash charge to the extent that it represents an accrual of or reserve for cash expenses
in any future period or amortization of a prepaid cash expense incurred in a prior period);

     (6) any non-recurring charges or expenses incurred in connection with the
Refinancing Transactions shall be excluded;

     (7) any non-cash restructuring charges, plus up to an aggregate of $20.0 million of
other restructuring charges in any fiscal year shall be excluded;

     (8) any non-cash impairment charge or asset write-off, in each case pursuant to
GAAP, and the amortization of intangibles arising pursuant to GAAP, shall be excluded;

     (9) any gain or loss, together with any related provision for taxes on such gain or
loss, realized in connection with (a) any sale of assets outside the ordinary course of
business of such Person or (b) the disposition of any securities by such Person or any of
its Restricted Subsidiaries or the extinguishment of any Indebtedness or Hedging Obligations
or other derivative instruments of such Person or any of its Restricted Subsidiaries, shall,
in each case, be excluded;

     (10) any after-tax effect of income (loss) from disposed, abandoned, transferred,
closed or discontinued operations and any net after-tax gains or losses on disposal of
disposed, abandoned, transferred, closed or discontinued operations shall, in each case, be
excluded;

     (11) any extraordinary, non-recurring or unusual gain or loss or expense, together
with any related provision for taxes, shall be excluded;

     (12) the effects of adjustments in the property, plant and equipment, inventories,
goodwill, intangible assets and debt line items in such Person’s consolidated financial
statements pursuant to GAAP resulting from the application of purchase accounting in
relation to the Refinancing Transactions or any acquisition or the amortization or write-off
of any amounts thereof, net of taxes, shall be excluded;

     (13) any fees and expenses incurred during such period, or any amortization thereof
for such period, in connection with any acquisition, disposition, recapitalization,
Investment, Asset Sale, issuance or repayment of Indebtedness, issuance of Equity Interests,
financing transaction or amendment or modification of any debt instrument (including, in
each case, any such transaction undertaken but not completed) and any charges or
non-recurring merger costs incurred during such period as a result of any such transaction,
shall be excluded; and

10

 

     (14) accruals and reserves that are established or adjusted within 12 months of
the date of original issue of the Notes that are so required to be established or adjusted
as a result of the Refinancing Transactions in accordance with GAAP shall be excluded.

     “Consolidated Total Assets” of any Person means, as of any date, the amount which, in
accordance with GAAP, would be set forth under the caption “Total Assets” (or any like caption) on
a consolidated balance sheet of such Person and its Restricted Subsidiaries, as of the end of the
most recently ended fiscal quarter for which internal financial statements are available.

     “continuing” means, with respect to any Default or Event of Default, that such Default or
Event of Default has not been cured or waived.

     “Continuing Directors” means, as of any date of determination, any member of the Board of
Directors of the Company or Parent, as the case may be, who:

     (1) was a member of such Board of Directors on the date of this Indenture

     (2) was nominated for election or elected to such Board of Directors with the
approval of a majority of the Continuing Directors who were members of such Board of
Directors at the time of such nomination or election; or

     (3) was nominated for election or elected to that Board of Directors by the
Principals or their Related Parties.

     “Contribution Indebtedness” means Indebtedness of the Company or any Subsidiary Guarantor in
an aggregate principal amount equal to the aggregate amount of cash contributions (other than
Excluded Contributions) made to the capital of the Company or such Subsidiary Guarantor after the
date of this Indenture; provided that:

     (1) such cash contributions have not been used to make a Restricted Payment, and

     (2) such Contribution Indebtedness (a) is incurred within 180 days after the
making of such cash contributions and (b) is so designated as Contribution Indebtedness
pursuant to an Officers’ Certificate on the incurrence date thereof.

     “Corporate Trust Office of the Trustee” will be at the address of the Trustee specified in
Section 13.02 hereof or such other address as to which the Trustee may give notice to the Company.

     “Credit Facilities” means one or more debt facilities (including, without limitation, the ABL
Credit Facility), credit agreements, commercial paper facilities, note purchase agreements,
indentures, or other agreements, in each case with banks, lenders, purchasers, investors, trustees,
agents or other representatives of any of the foregoing, providing for revolving credit loans, term
loans, receivables financing (including through the sale of receivables or interests in receivables
to such lenders or other persons or to special purpose entities formed to borrow from such lenders
or other persons against such receivables or sell such receivables or interests in receivables),
letters of credit, notes or other borrowings or other extensions of credit, including any notes,
mortgages, guarantees, collateral documents, instruments and agreements executed in connection
therewith, in each case, as amended, restated, modified, renewed, refunded, restated, restructured,
increased, supplemented, replaced or refinanced in whole or in part from time to time, including
any replacement, refunding or refinancing facility or agreement that increases the amount permitted
to be borrowed thereunder or alters the maturity thereof or

11

 

adds entities as additional borrowers or guarantors thereunder and whether by the same or any
other agent, lender, group of lenders, or otherwise.

     “Custodian” means the Trustee, as custodian with respect to the Notes in global form, or any
successor entity thereto.

     “Default” means any event that is, or with the passage of time or the giving of notice or both
would be, an Event of Default.

     “Definitive Note” means a certificated Note registered in the name of the Holder thereof and
issued in accordance with Section 2.06 hereof, substantially in the form of Exhibit A1 hereto
except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of
Exchanges of Interests in the Global Note” attached thereto.

     “Depositary” means, with respect to the Notes issuable or issued in whole or in part in global
form, the Person specified in Section 2.03 hereof as the Depositary with respect to the Notes, and
any and all successors thereto appointed as depositary hereunder and having become such pursuant to
the applicable provision of this Indenture.

     “Designated Non-cash Consideration” means the Fair Market Value of non-cash consideration
received by the Company or a Restricted Subsidiary in connection with an Asset Sale that is so
designated as Designated Non-cash Consideration pursuant to an Officer’s Certificate, setting forth
the basis of such valuation, executed by the principal financial officer of the Company, less the
amount of cash or Cash Equivalents received in connection with a subsequent sale of or collection
on such Designated Non-cash Consideration.

     “Designated Preferred Stock” means preferred stock of the Company or any parent corporation
thereof (in each case other than Disqualified Stock) that is issued for cash (other than to the
Company or any of its Subsidiaries) and is so designated as Designated Preferred Stock pursuant to
an Officer’s Certificate executed by the principal financial officer of the Company or the
applicable parent corporation thereof, as the case may be, on the issuance date thereof.

     “Discharge of Priority Lien Obligations” means the occurrence of all of the following:

     (1) termination or expiration of all commitments to extend credit that would
constitute Priority Lien Debt;

     (2) payment in full in cash of the principal of, and interest and premium, if any,
and Special Interest, if any, on, all Priority Lien Debt (other than any undrawn letters of
credit), other than from the proceeds of an incurrence of Priority Lien Debt;

     (3) discharge or cash collateralization (at the lower of (A) 105% of the aggregate
undrawn amount and (B) the percentage of the aggregate undrawn amount required for release
of liens under the terms of the applicable Priority Lien Document) of all outstanding
letters of credit constituting Priority Lien Debt; and

     (4) payment in full in cash of all other Priority Lien Obligations that are
outstanding and unpaid at the time the Priority Lien Debt is paid in full in cash (other
than any obligations for taxes, costs, indemnifications, reimbursements, damages and other
liabilities in respect of which no claim or demand for payment has been made at such time).

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     “Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of any
security into which it is convertible, or for which it is exchangeable, in each case at the option
of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable,
pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder
thereof, in whole or in part, on or prior to the date that is 91 days after the date on which the
Notes mature; provided, however, that only the portion of the Capital Stock which so matures, is
mandatorily redeemable or is redeemable at the option of the holder prior to such date shall be
deemed to be Disqualified Stock. Notwithstanding the preceding sentence, any Capital Stock that
would constitute Disqualified Stock solely because the holders thereof have the right to require
the Company to repurchase such Capital Stock upon the occurrence of a Change of Control (or
similarly defined term) or an Asset Sale (or similarly defined term) shall not constitute
Disqualified Stock if the terms of such Capital Stock provide that the Company may not repurchase
or redeem any such Capital Stock pursuant to such provisions unless such repurchase or redemption
complies with Section 4.07 hereof. The term “Disqualified Stock” shall also include any options,
warrants or other rights that are convertible into Disqualified Stock or that are redeemable at the
option of the holder, or required to be redeemed, prior to the date that is 91 days after the date
on which the Notes mature. Disqualified Stock shall not include Capital Stock which is issued to
any plan for the benefit of employees of the Company or its Subsidiaries or by any such plan to
such employees solely because it may be required to be repurchased by the Company or its
Subsidiaries in order to satisfy applicable statutory or regulatory obligations.

     “Domestic Subsidiary” means any Restricted Subsidiary of the Company that was formed under the
laws of the United States or any state of the United States or the District of Columbia.

     “equally and ratably” means, in reference to sharing of Liens or proceeds thereof as between
holders of Secured Obligations within the same Class, that such Liens or proceeds:

     (1) will be allocated and distributed first to the Secured Debt Representative for
each outstanding Series of Priority Lien Debt or Subordinated Lien Debt within that Class,
for the account of the holders of such Series of Priority Lien Debt or Subordinated Lien
Debt, ratably in proportion to the principal of, and interest and premium (if any) and
Special Interest (if any) and reimbursement obligations (contingent or otherwise) with
respect to letters of credit, if any, outstanding (whether or not drawings have been made on
such letters of credit and whether for payment or cash collateralization) on, each
outstanding Series of Priority Lien Debt or Subordinated Lien Debt within that Class when
the allocation or distribution is made, and thereafter; and

     (2) will be allocated and distributed (if any remain after payment in full of all
of the principal of, and interest and premium (if any) and reimbursement obligations
(contingent or otherwise) with respect to letters of credit, if any, outstanding (whether or
not drawings have been made on such letters of credit and whether for payment or cash
collateralization) on all outstanding Secured Obligations within that Class) to the Secured
Debt Representative for each outstanding Series of Priority Lien Debt or Subordinated Lien
Debt within that Class, for the account of the holders of any remaining Secured Obligations
within that Class, ratably in proportion to the aggregate unpaid amount of such remaining
Secured Obligations within that Class due and demanded (with written notice to the
applicable Secured Debt Representative and the Collateral Trustee) prior to the date such
distribution is made.

     “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire
Capital Stock (but excluding any debt security that is convertible into, or exchangeable for,
Capital Stock).

     “Euroclear” means Euroclear Bank, S.A./N.V., as operator of the Euroclear system.

13

 

     “Exchange Offer” has the meaning set forth in the Registration Rights Agreement.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended.

     “Exchange Notes” means the Notes issued in the Exchange Offer pursuant to Section 2.06(f)
hereof.

     “Exchange Offer” has the meaning set forth in the Registration Rights Agreement.

     “Exchange Offer Registration Statement” has the meaning set forth in the Registration Rights
Agreement.

     “Excluded ABL Assets” means each of the following:

     (1) Non-Core Assets;

     (2) all “general intangibles” as such term is defined in Article 9 of the UCC,
including “payment intangibles” also as such term is defined in Article 9 of the UCC, and,
in any event, including with respect to the Company and any Subsidiary Guarantor, all
contracts, agreements, instruments and indentures in any form, and portions thereof, to
which the Company or such Subsidiary Guarantor is a party or under which the Company or such
Subsidiary Guarantor has any right, title or interest or to which the Company or such
Subsidiary Guarantor or any property of the Company or such Subsidiary Guarantor is subject,
as the same may from time to time be amended, supplemented or otherwise modified, including
(a) all rights of the Company or such Subsidiary Guarantor to receive moneys due and to
become due to it thereunder or in connection therewith, (b) all rights of the Company or
such Subsidiary Guarantor to receive proceeds of any insurance, indemnity, warranty or
guarantee with respect thereto, (c) all claims of the Company or such Subsidiary Guarantor
for damages arising out of any breach of or default thereunder and (d) all rights of the
Company or such Subsidiary Guarantor to terminate, amend, supplement, modify or exercise
rights or options thereunder, to perform thereunder and to compel performance and otherwise
exercise all remedies thereunder, in each case to the extent the grant by the Company or
such Subsidiary Guarantor of a security interest in its right, title and interest in any
such contract, agreement, instrument or indenture (i) is prohibited by such contract,
agreement, instrument or indenture without the consent of any other party thereto, (ii)
would give any other party to any such contract, agreement, instrument or indenture the
right to terminate its obligations thereunder or (iii) is not permitted without consent if
all necessary consents to such grant of a security interest have not been obtained from the
other parties thereto (other than to the extent that any such prohibition referred to in
clauses (i), (ii) and (iii) would be rendered ineffective pursuant to Sections 9-406, 9-407,
9-408 or 9 409 of the UCC (or any successor provision or provisions) of any relevant
jurisdiction or any other applicable law) (provided that the foregoing shall not affect,
limit, restrict or impair the grant by Company or such Subsidiary Guarantor of a security
interest in any account or any money or other amounts due or to become due under any such
contract, agreement, instrument or indenture);

     (3) all “equipment,” as such term is defined in Article 9 of the UCC, now or
hereafter owned by the Company or any Subsidiary Guarantor or to which the Company or any
Subsidiary Guarantor has rights and, in any event, shall include all machinery, equipment,
computers, furnishings, appliances, fixtures, tools and vehicles (in each case, regardless
of whether characterized as equipment under the UCC) now or hereafter owned by the Company
or any Subsidiary Guarantor or to which the Company or any Subsidiary Guarantor has rights
and any and all proceeds, accessions, additions, substitutions and replacements of any of
the

14

 

foregoing, wherever located, together with all attachments, components, parts,
equipment and accessories installed thereon or affixed thereto to the extent such equipment
is subject to a Lien permitted by this Indenture and the terms of the Indebtedness securing
such Lien prohibit assignment of, or granting of a security interest in, the Company’s or
such Subsidiary Guarantor’s rights and interests therein (other than to the extent that any
such prohibition would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or
9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or
any other applicable law) (provided, that immediately upon the repayment of all Indebtedness
secured by such Lien, such equipment shall cease to constitute an “Excluded ABL Asset”);

     (4) rights, priorities and privileges relating to intellectual property, whether
arising under United States, multinational or foreign laws, including the trade secrets, the
copyrights, the patents, the trademarks and the licenses and all rights to sue at law or in
equity for any infringement or other impairment thereof, including the right to receive all
proceeds and damages therefrom, now or hereafter owned by the Company or any Subsidiary
Guarantor, in each case to the extent the grant by the Company or such Subsidiary Guarantor
of a security interest in any such rights, priorities and privileges relating to
intellectual property (i) is prohibited by any contract, agreement or other instrument
governing such rights, priorities and privileges without the consent of any other party
thereto, (ii) would give any other party to any such contract, agreement or other instrument
the right to terminate its obligations thereunder or (iii) is not permitted without consent
if all necessary consents to such grant of a security interest have not been obtained from
the relevant parties (other than to the extent that any such prohibition referred to in
clauses (i), (ii) and (iii) would be rendered ineffective pursuant to Sections 9-406, 9-407,
9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant
jurisdiction or any other applicable law); and

     (5) all securities (whether certificated or uncertificated), security entitlements,
securities accounts, commodity contracts and commodity accounts of the Company or any
Subsidiary Guarantor, whether now or hereafter acquired by the Company or any Subsidiary
Guarantor, in each case to the extent the grant by the Company or a Subsidiary Guarantor of
a security interest therein in its right, title and interest in any such investment property
(i) is prohibited by any contract, agreement, instrument or indenture governing such
investment property without the consent of any other party thereto, (ii) would give any
other party to any such contract, agreement, instrument or indenture the right to terminate
its obligations thereunder or (iii) is not permitted without the consent if all necessary
consents to such grant of a security interest have not been obtained from the other parties
thereto (other than to the extent that any such prohibition referred to in clauses (i), (ii)
and (iii) would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of
the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other
applicable law).

     “Excluded Assets” means each of the following:

     (1) Excluded ABL Assets;

     (2) all interests in real property other than fee interests and other interests
appurtenant thereto;

     (3) fee interests in real property (a) on the date of this Indenture other than the
fee interests listed on Exhibit G to this Indenture and (b) acquired after the date of this
Indenture if the net book value of such fee interest is less than $2.0 million;

15

 

     (4) all “securities” of any of the Company’s “affiliates” (as the terms
“securities” and “affiliates” are used in Rule 3-16 of Regulation S-X under the Securities
Act);

     (5) any property or asset to the extent that the grant or perfection of a Lien
under the Security Documents in such property or asset is prohibited by applicable law or
requires any consent of any governmental authority not obtained pursuant to applicable law;
provided that such property or asset will be an Excluded Asset only to the extent and for so
long as the consequences specified above will result and will cease to be an Excluded Asset
and will become subject to the Lien granted under the Security Documents, immediately and
automatically, at such time as such consequences will no longer result;

     (6) any intellectual property to the extent that the grant or perfection of a Lien
under the Security Documents will constitute or result in the abandonment, invalidation or
rendering unenforceable of any right, title or interest of any grantor therein; provided
that such property or asset will be an Excluded Asset only to the extent and for so long as
the consequences specified above will result and will cease to be an Excluded Asset and will
become subject to the Lien granted under the Security Documents, immediately and
automatically, at such time as such consequences will no longer result;

     (7) (i) deposit or securities accounts the balance of which consists exclusively of
(a) withheld income taxes and federal, state or local employment taxes in such amounts as
are required in the reasonable judgment of the Company or any Subsidiary Guarantor to be
paid to the Internal Revenue Service or state or local government agencies within the
following two months with respect to employees of the Company or its Subsidiaries and (b)
amounts required to be paid over to an employee benefit plan pursuant to DOL Reg. Sec.
2510.3 102 on behalf of employees of the Company or its Subsidiaries, and (ii) all
segregated deposit or securities accounts constituting (and the balance of which consists
solely of funds set aside in connection with) tax accounts, payroll accounts and trust
accounts;

     (8) Equity Interests in any joint venture with a third party that is not an
Affiliate, to the extent a pledge of such Equity Interests is prohibited by the documents
covering such joint venture;

     (9) any property owned by a Foreign Subsidiary that is not a Subsidiary Guarantor;

     (10) items specified in the Security Agreement as exceptions to the Collateral set
forth therein; and

     (11) the cash, cash equivalents or other assets subject to Permitted Liens set
forth in clauses (5), (10), (11), (18), (20), (23) (to the extent that the cash, cash
equivalents or other assets subject to a Permitted Lien that was refinanced pursuant to
clause (23) itself qualified as an Excluded Asset), (24), (26), (27), (28) and (29) of such
definition; provided that if and when any such cash, cash equivalents or other assets cease
to be subject to a Permitted Lien listed in this clause (11), such property shall be deemed
at all times from and after the date of this Indenture to constitute Notes Priority
Collateral.

     “Excluded Contributions” means net cash proceeds received by the Company and its Restricted
Subsidiaries as capital contributions after the date of this Indenture or from the issuance or sale
(other than to a Restricted Subsidiary) of Equity Interests (other than Disqualified Stock) of the
Company or a direct or indirect parent of the Company, in each case to the extent designated as an
Excluded Contribution pursuant to an Officers’ Certificate and not previously included in the
calculation set forth in

16

 

clause (3)(B) of Section 4.07(b) hereof for purposes of determining whether a Restricted
Payment may be made.

     “Excluded Subsidiary” means:

     (1) any Foreign Subsidiary; and

     (2) any Restricted Subsidiary of the Company; provided that (a) the total assets of
all Restricted Subsidiaries that are Excluded Subsidiaries solely as a result of this clause
(2), as reflected on their respective most recent balance sheets prepared in accordance with
GAAP, do not in the aggregate at any time exceed $1.0 million and (b) the total revenues of
all Restricted Subsidiaries that are Excluded Subsidiaries solely as a result of this clause
(2) for the twelve-month period ending on the last day of the most recent fiscal quarter for
which financial statements for the Company are available, as reflected on such income
statements, do not in the aggregate exceed $5.0 million.

     “Existing Indebtedness” means the aggregate principal amount of Indebtedness of the Company
and its Subsidiaries (other than Indebtedness under the ABL Credit Facility) in existence on the
date of this Indenture, until such amounts are repaid.

     “Fair Market Value” means the price that would be paid in an arm’s-length transaction between
an informed and willing seller under no compulsion to sell and an informed and willing buyer under
no compulsion to buy. For purposes of determining compliance with Article 4 hereof, any
determination that the Fair Market Value of assets other than cash or Cash Equivalents is equal to
or greater than $50.0 million will be made by the Company’s or Parent’s Board of Directors and
evidenced by a resolution thereof and set forth in an Officers’ Certificate.

     “Fixed Charge Coverage Ratio” means with respect to any specified Person for any period, the
ratio of the Consolidated Cash Flow of such Person for such period to the Fixed Charges of such
Person for such period. In the event that the specified Person or any of its Restricted
Subsidiaries incurs, assumes, guarantees, repays, repurchases, retires or redeems any Indebtedness
or issues, repurchases or redeems preferred stock or Disqualified Stock subsequent to the
commencement of the period for which the Fixed Charge Coverage Ratio is being calculated and on or
prior to the date on which the event for which the calculation of the Fixed Charge Coverage Ratio
is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated giving
pro forma effect to such incurrence, assumption, Guarantee, repayment, repurchase, retirement or
redemption of Indebtedness, or such issuance, repurchase or redemption of preferred stock or
Disqualified Stock, and the use of the proceeds therefrom as if the same had occurred at the
beginning of the applicable four-quarter reference period.

     In addition, for purposes of calculating the Fixed Charge Coverage Ratio:

     (1) Investments, acquisitions, dispositions, mergers, consolidations, business
restructurings, operational changes and any financing transactions relating to any of the
foregoing (collectively, “relevant transactions”), in each case that have been made by the
specified Person or any of its Restricted Subsidiaries during the four-quarter reference
period or subsequent to such reference period and on or prior to the Calculation Date, shall
be given pro forma effect as if they had occurred on the first day of the four-quarter
reference period and Consolidated Cash Flow for such reference period shall be calculated on
a pro forma basis, including Pro Forma Cost Savings; if since the beginning of such period
any Person that subsequently becomes a Restricted Subsidiary of the Company or was merged
with or into the Company or any Restricted Subsidiary thereof since the beginning of such
period shall have made any relevant transaction

17

 

that would have required adjustment pursuant to this definition, then the Fixed Charge
Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if
such relevant transaction had occurred at the beginning of the applicable four-quarter
period and Consolidated Cash Flow for such reference period shall be calculated on a pro
forma basis, including Pro Forma Cost Savings;

     (2) the Consolidated Cash Flow attributable to discontinued operations, as
determined in accordance with GAAP, shall be excluded;

     (3) the Fixed Charges attributable to discontinued operations, as determined in
accordance with GAAP, shall be excluded, but only to the extent that the obligations giving
rise to such Fixed Charges will not be obligations of the specified Person or any of its
Restricted Subsidiaries following the Calculation Date; and

     (4) consolidated interest expense attributable to interest on any Indebtedness
(whether existing or being incurred) computed on a pro forma basis and bearing a floating
interest rate shall be computed as if the rate in effect on the Calculation Date (taking
into account any interest rate option, swap, cap or similar agreement applicable to such
Indebtedness if such agreement has a remaining term in excess of 12 months or, if shorter,
at least equal to the remaining term of such Indebtedness) had been the applicable rate for
the entire period. Interest on Indebtedness that may optionally be determined at an
interest rate based on a factor of a prime or similar rate, a Eurocurrency interbank offered
rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or,
if none, then based upon such optional rate chosen as the Company may designate. Interest
on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be
computed based on the average daily balance of such Indebtedness during the applicable
period except as set forth in the first paragraph of this definition.

     “Fixed Charges” means, with respect to any specified Person for any period, the sum, without
duplication, of:

     (1) the consolidated interest expense of such Person and its Restricted
Subsidiaries for such period, whether paid or accrued, to the extent deducted (and not added
back) in computing Consolidated Net Income, including, without limitation, (a) amortization
of original issue discount, (b) non-cash interest payments (but excluding any non-cash
interest expense attributable to the movement in the mark to market valuation of Hedging
Obligations or other derivative instruments pursuant to GAAP), (c) the interest component of
any deferred payment obligations, (d) the interest component of all payments associated with
Capital Lease Obligations, (e) imputed interest with respect to Attributable Debt, (f)
commissions, discounts and other fees and charges incurred in respect of letter of credit or
bankers’ acceptance financings, and (g) in each case net of the effect of all payments made
or received pursuant to Hedging Obligations, but in each case excluding (v) accretion of
accrual of discounted liabilities not constituting Indebtedness, (w) any expense resulting
from the discounting of any outstanding Indebtedness in connection with the application of
purchase accounting in connection with any acquisition, (x) any Special Interest, (y)
amortization of deferred financing fees, debt issuance costs, commissions, fees and expenses
and (z) any expensing of bridge, commitment or other financing fees; plus

     (2) the consolidated interest of such Person and its Restricted Subsidiaries that
was capitalized during such period; plus

18

 

     (3) any interest expense on Indebtedness of another Person that is guaranteed by
such Person or one of its Restricted Subsidiaries or secured by a Lien on assets of such
Person or one of its Restricted Subsidiaries, whether or not such Guarantee or Lien is
called upon; plus

     (4) the product of (a) all dividends, whether paid or accrued and whether or not in
cash, on any series of Disqualified Stock of such Person or any of its Restricted
Subsidiaries, and all cash dividends on any series of preferred stock of any Restricted
Subsidiary of such Person, other than dividends on Equity Interests payable solely in Equity
Interests of the Company (other than Disqualified Stock) or to the Company or a Restricted
Subsidiary of the Company, times (b) a fraction, the numerator of which is one and the
denominator of which is one minus the then current combined federal, state and local
statutory tax rate of such Person, expressed as a decimal, less

     (5) interest income for such period,

     in each case, on a consolidated basis and in accordance with GAAP.

     “Foreign Subsidiary” means any Restricted Subsidiary of the Company other than a Domestic
Subsidiary.

     “GAAP” means generally accepted accounting principles in the United States as set forth in the
opinions and pronouncements of the Accounting Principles Board of the American Institute of
Certified Public Accountants, the opinions and pronouncements of the Public Company Accounting
Oversight Board and in the statements and pronouncements of the Financial Accounting Standards
Board or in such other statements by such other entity as have been approved by a significant
segment of the accounting profession, which are in effect from time to time. At any time after the
date of this Indenture, the Company may elect to apply IFRS accounting principles in lieu of GAAP
and, upon any such election, references herein to GAAP shall thereafter be construed to mean IFRS
(except as otherwise provided in this Indenture); provided that any such election, once made, shall
be irrevocable; provided further, that any calculation or determination in this Indenture that
requires the application of GAAP for periods that include fiscal quarters ended prior to the
Company’s election to apply IFRS shall remain as previously calculated or determined in accordance
with GAAP. The Company shall give notice of any such election made in accordance with this
definition to the Trustee and the Holders of Notes.

     “Global Note Legend” means the legend set forth in Section 2.06(g)(2) hereof, which is
required to be placed on all Global Notes issued under this Indenture.

     “Global Notes” means, individually and collectively, each of the Restricted Global Notes and
the Unrestricted Global Notes deposited with or on behalf of and registered in the name of the
Depositary or its nominee, substantially in the form of Exhibit A1 hereto and that bears the Global
Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached
thereto, issued in accordance with Section 2.01, 2.06(b)(1), 2.06(b)(2)(A), 2.06(b)(3), 2.06(b)(4),
2.06(d)(1), 2.06(d)(2), 2.06(d)(3) or 2.06(f) hereof.

     “Government Securities” means (1) securities that are direct obligations of the United States
of America for the timely payment of which its full faith and credit is pledged or (2) securities
that are obligations of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America the timely payment of which is unconditionally
guaranteed as a full faith and credit obligation by the United States of America.

19

 

     “Guarantee” means, as to any Person, a guarantee other than by endorsement of negotiable
instruments for collection in the ordinary course of business, direct or indirect, in any manner
including, without limitation, by way of a pledge of assets or through letters of credit or
reimbursement agreements in respect thereof, of all or any part of any Indebtedness of another
Person.

     “Guarantors” means:

     (1) Parent;

     (2) each direct or indirect Wholly Owned Domestic Subsidiary of the Company on the
date of this Indenture (other than Excluded Subsidiaries);

     (3) any other Restricted Subsidiary of the Company that has issued a guarantee with
respect to the ABL Credit Facility or any other Indebtedness of the Company or any
Guarantor; and

     (4) any other Restricted Subsidiary of the Company that executes a Note Guarantee
in accordance with the provisions of this Indenture;

     and their respective successors and assigns until released from their obligations under their
Note Guarantees and this Indenture in accordance with the terms of this Indenture.

     “Hedging Obligations” means, with respect to any specified Person, the obligations of such
Person under:

     (1) interest rate swap agreements, interest rate cap agreements, interest rate
collar agreements and other agreements or arrangements designed for the purpose of fixing,
hedging, mitigating or swapping interest rate risk either generally or under specific
contingencies;

     (2) foreign exchange contracts, currency swap agreements and other agreements or
arrangements designed for the purpose of fixing, hedging, mitigating or swapping foreign
currency exchange rate risk either generally or under specific contingencies; and

     (3) commodity swap agreements, commodity cap agreements or commodity collar
agreements designed for the purpose of fixing, hedging, mitigating or swapping commodity
risk either generally or under specific contingencies,

including, in each case, any guarantee obligations in respect thereof.

     “Holder” means a Person in whose name a Note is registered.

     “IAI Global Note” means a Global Note substantially in the form of Exhibit A1 hereto bearing
the Global Note Legend and the Private Placement Legend and deposited with or on behalf of and
registered in the name of the Depositary or its nominee that will be issued in a denomination equal
to the outstanding principal amount of the Notes sold to Institutional Accredited Investors.

20

 

     “IFRS” means the international accounting standards promulgated by the International
Accounting Standards Board and its predecessors, as adopted by the European Union, as in effect
from time to time.

     “incur” means, with respect to any Indebtedness, to incur, create, issue, assume, guarantee or
otherwise become directly or indirectly liable for or with respect to, or become responsible for,
the payment of, contingently or otherwise, such Indebtedness; provided that (1) any Indebtedness of
a Person existing at the time such Person becomes a Restricted Subsidiary of the Company will be
deemed to be incurred by such Restricted Subsidiary at the time it becomes a Restricted Subsidiary
of the Company and (2) neither the accrual of interest nor the accretion of original issue discount
nor the payment of interest in the form of additional Indebtedness with the same terms and the
payment of dividends on Disqualified Stock in the form of additional shares of the same class of
Disqualified Stock (to the extent provided for when the Indebtedness or Disqualified Stock on which
such interest or dividend is paid was originally issued) shall be considered an incurrence of
Indebtedness; provided that in each case the amount thereof is for all other purposes included in
the Fixed Charges of the Company or its Restricted Subsidiary as accrued and the amount of any such
accretion or payment of interest in the form of additional Indebtedness or additional shares of
Disqualified Stock is for all purposes included in the Indebtedness of the Company or its
Restricted Subsidiary as accreted or paid.

     “Indebtedness” means, with respect to any specified Person, any indebtedness of such Person,
whether or not contingent:

     (1) in respect of borrowed money;

     (2) evidenced by bonds, notes, debentures or similar instruments;

     (3) evidenced by letters of credit (or reimbursement agreements in respect
thereof), but excluding obligations with respect to letters of credit (including trade
letters of credit) securing obligations (other than obligations set forth in clauses (1),
(2), (4), (5), (6), (7) or (8) of this definition) entered into in the ordinary course of
business of such Person to the extent such letters of credit are not drawn upon or, if drawn
upon, to the extent such drawing is reimbursed no later than the fifth Business Day
following receipt by such Person of a demand for reimbursement;

     (4) in respect of banker’s acceptances;

     (5) in respect of Capital Lease Obligations and Attributable Debt;

     (6) in respect of the balance deferred and unpaid of the purchase price of any
property, except (i) any such balance that constitutes an accrued expense or trade payable
or similar obligation to a trade creditor and (ii) any earn-out obligations until such
obligation becomes a liability on the balance sheet of such Person in accordance with GAAP;

     (7) representing Hedging Obligations, other than Hedging Obligations that are
incurred in the normal course of business and not for speculative purposes, and that do not
increase the Indebtedness of the obligor outstanding at any time other than as a result of
fluctuations in interest rates, commodity prices or foreign currency exchange rates or by
reason of fees, indemnities and compensation payable thereunder; or

     (8) representing Disqualified Stock valued at the greater of its voluntary or
involuntary maximum fixed repurchase price.

21

 

     In addition, the term “Indebtedness” includes (1) all Indebtedness of others secured by a Lien
on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified
Person); provided that the amount of such Indebtedness shall be the lesser of (a) the Fair Market
Value of such asset at such date of determination and (b) the amount of such Indebtedness, and (2)
to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of
any other Person. For purposes hereof, the “maximum fixed repurchase price” of any Disqualified
Stock which does not have a fixed repurchase price shall be calculated in accordance with the terms
of such Disqualified Stock as if such Disqualified Stock were purchased on any date on which
Indebtedness shall be required to be determined pursuant to this Indenture, and if such price is
based upon, or measured by, the Fair Market Value of such Disqualified Stock, such Fair Market
Value shall be determined in good faith by the Board of Directors of the issuer of such
Disqualified Stock.

     The amount of any Indebtedness outstanding as of any date shall be the outstanding balance at
such date of all unconditional obligations as set forth above and, with respect to contingent
obligations, the maximum liability upon the occurrence of the contingency giving rise to the
obligation, and shall be:

     (1) the accreted value thereof, in the case of any Indebtedness issued with
original issue discount; and

     (2) the principal amount thereof, together with any interest thereon that is more
than 30 days past due, in the case of any other Indebtedness;

     provided that Indebtedness shall not include:

	 	(i)	 	any liability for foreign, federal, state, local or other
taxes,

	 	(ii)	 	performance bonds, bid bonds, appeal bonds, surety bonds
and completion guarantees and similar obligations not in connection with money
borrowed, in each case provided in the ordinary course of business, including
those incurred to secure health, safety and environmental obligations in the
ordinary course of business,

	 	(iii)	 	any liability arising from the honoring by a bank or other
financial institution of a check, draft or similar instrument drawn against
insufficient funds in the ordinary course of business; provided, however, that
such liability is extinguished within five Business Days of its incurrence,

	 	(iv)	 	any liability owed to any Person in connection with
workers’ compensation, health, disability or other employee benefits or
property, casualty or liability insurance provided by such Person pursuant to
reimbursement or indemnification obligations to such Person, in each case
incurred in the ordinary course of business,

	 	(v)	 	any indebtedness existing on the date of this Indenture
that has been satisfied and discharged or defeased by legal defeasance,

	 	(vi)	 	agreements providing for indemnification, adjustment of
purchase price or earnouts or similar obligations, or Guarantees or letters of
credit, surety bonds or performance bonds securing any obligations of the
Company or any of its Restricted Subsidiaries pursuant to such agreements, in
any case incurred in connection with the disposition or acquisition of any
business, assets or

22

 

	 	 	 	Restricted Subsidiary (other than Guarantees of Indebtedness incurred by any
Person acquiring all or any portion of such business, assets or Restricted
Subsidiary for the purpose of financing such acquisition), so long as the
principal amount does not exceed the gross proceeds actually received in
connection with such transaction, or

	 	(vii)	 	indebtedness under leases that exists solely as a result
of the implementation of the proposed revisions to lease accounting standards
by the Financial Accounting Standards Board and the International Accounting
Standards Board, as described in the discussion paper “Leases: Preliminary
Views” dated March 2009.

     No Indebtedness of any Person will be deemed to be contractually subordinated in right of
payment to any other Indebtedness of such Person solely by virtue of being unsecured or by virtue
of being secured on a junior priority basis.

     “Indenture” means this Indenture, as amended or supplemented from time to time.

     “Indirect Participant” means a Person who holds a beneficial interest in a Global Note through
a Participant.

     “Initial Notes” means the $1.0 billion aggregate principal amount of Notes issued under this
Indenture on the date hereof.

     “Initial Purchasers” means Goldman, Sachs & Co., Barclays Capital Inc., J.P. Morgan Securities
Inc., Banc of America Securities LLC, Raymond James & Associates, Inc., SunTrust Robinson Humphrey,
Inc. and TD Securities (USA) LLC.

     “Insolvency or Liquidation Proceeding” means:

     (1) any case commenced by or against the Company or any Guarantor under the
Bankruptcy Law, any other proceeding for the reorganization, recapitalization or adjustment
or marshalling of the assets or liabilities of the Company or any Guarantor, any
receivership or assignment for the benefit of creditors relating to the Company or any
Guarantor or any similar case or proceeding relative to the Company or any Guarantor or its
creditors, as such, in each case whether or not voluntary;

     (2) any liquidation, dissolution, marshalling of assets or liabilities or other
winding up of or relating to the Company or any Guarantor, in each case whether or not
voluntary and whether or not involving bankruptcy or insolvency, unless otherwise permitted
by this Indenture and the Security Documents;

     (3) any proceeding seeking the appointment of a trustee, receiver, liquidator,
custodian or other insolvency official with respect to the Company or any Guarantor or any
of their assets;

     (4) any other proceeding of any type or nature in which substantially all claims of
creditors of the Company or any Guarantor are determined and any payment or distribution is
or may be made on account of such claims; or

     (5) any analogous procedure or step in any jurisdiction.

23

 

     “Institutional Accredited Investor” means an institution that is an “accredited investor” as
defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act, who are not also QIBs.

     “Intercreditor Agreement” means the Second Amended and Restated Intercreditor Agreement, dated
as of the date of this Indenture, by and among the Company, the Subsidiary Guarantors, the ABL
Collateral Agent and the Collateral Trustee, as amended or supplemented from time to time in
accordance with its terms.

     “Investment Grade Securities” means:

     (1) securities issued or directly and fully guaranteed or insured by the United
States government or any agency or instrumentality thereof;

     (2) debt securities or debt instruments with an investment grade rating (but not
including any debt securities or instruments constituting loans or advances among the
Company and its Subsidiaries);

     (3) investments in any fund that invests exclusively in investments of the type set
forth in clauses (1) and (2) above which fund may also hold immaterial amounts of cash
pending investment or distribution; and

     (4) corresponding instruments in countries other than the United States customarily
utilized for high quality investments.

     “Investments” means, with respect to any Person, all direct or indirect investments by such
Person in other Persons (including Affiliates) in the form of loans or other extensions of credit
(including Guarantees, but excluding advances to customers or suppliers and trade credit in the
ordinary course of business to the extent they are in conformity with GAAP, recorded as accounts
receivable, prepaid expenses or deposits on the balance sheet of the Company or its Restricted
Subsidiaries and endorsements for collection or deposit arising in the ordinary course of
business), advances (excluding commission, payroll, travel and similar advances to officers,
directors and employees made in the ordinary course of business, and excluding advances set forth
in the preceding parenthetical), capital contributions (by means of any transfer of cash or other
property to others or any payment for property or services for the account or use of others),
purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other
securities, together with all items that are or would be classified as investments on a balance
sheet prepared in accordance with GAAP. In no event shall a guarantee of an operating lease of the
Company or any Restricted Subsidiary be deemed an Investment.

24

 

     If the Company or any Restricted Subsidiary of the Company sells or otherwise disposes of any
Equity Interests of any direct or indirect Restricted Subsidiary of the Company such that, after
giving effect to any such sale or disposition, such Person is no longer a Restricted Subsidiary of
the Company, the Company shall be deemed to have made an Investment on the date of any such sale or
disposition equal to the Fair Market Value of the Investment in such Restricted Subsidiary not sold
or disposed of in an amount determined as provided in Section 4.07(c) hereof. The acquisition by
the Company or any Restricted Subsidiary of the Company of a Person that holds an Investment in a
third Person shall be deemed to be an Investment by the Company or such Restricted Subsidiary in
such third Person only if such Investment was made in contemplation of, or in connection with, the
acquisition of such Person by the Company or such Restricted Subsidiary and the amount of any such
Investment shall be determined as provided in Section 4.07(c) hereof.

     “Junior Term Loan Facility” means the $450,000,000 Term Loan Credit Agreement, dated as of May
22, 2008, among Parent, the several lenders from time to time party thereto, Goldman Sachs Credit
Partners L.P. and Lehman Brothers Inc., as co-lead arrangers and joint bookrunners, Lehman Brothers
Commercial Paper Inc., as administrative agent and collateral agent, and Goldman Sachs Credit
Partners L.P., as syndication agent, as amended.

     “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in The City
of New York or at a place of payment are authorized by law, regulation or executive order to remain
closed.

     “Letter of Transmittal” means the letter of transmittal to be prepared by the Company and sent
to all Holders of the Notes for use by such Holders in connection with the Exchange Offer.

     “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest
or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise
perfected under applicable law, including (1) any conditional sale or other title retention
agreement, (2) any lease in the nature thereof, (3) any option or other agreement to sell or give a
security interest and (4) any filing, authorized by or on behalf of the relevant grantor, of any
financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction.

     “Lien Sharing and Priority Confirmation” means:

     (1) as to any Series of Priority Lien Debt, the written agreement of the Secured
Debt Representative of such Series of Priority Lien Debt, holders of such Series of Priority
Lien Debt or as set forth in the indenture, credit agreement or other agreement governing
such Series of Priority Lien Debt, for the benefit of all holders of Secured Debt and each
then present or future Secured Debt Representative:

          (a) that all Priority Lien Obligations will be and are secured equally and ratably
by all Priority Liens at any time granted by the Company or any Subsidiary Guarantor to
secure any Obligations in respect of such Series of Priority Lien Debt, whether or not upon
property otherwise constituting Collateral, and that all such Priority Liens will be
enforceable by the Collateral Trustee for the benefit of all holders of Priority Lien
Obligations equally and ratably;

          (b) that the holders of Obligations in respect of such Series of Priority Lien Debt
are bound by the provisions of the Collateral Trust Agreement, including the provisions
relating to the ranking of Priority Liens and the order of application of proceeds from
enforcement of Priority Liens; and

25

 

          (c) consenting to the terms of the Collateral Trust Agreement and the Intercreditor
Agreement and the Collateral Trustee’s performance of, and directing the Collateral Trustee
to perform, its obligations under the Collateral Trust Agreement and the Intercreditor
Agreement;

     (2) as to any Series of ABL Debt, the written agreement of the Secured Debt
Representative of such Series of ABL Debt, the holders of such Series of ABL Debt or as set
forth in the credit agreement, indenture or other agreement governing such Series of ABL
Debt, for the benefit of all holders of Secured Debt and each then present future Secured
Debt Representative, that the holders of Obligations in respect of such Series of ABL Debt
are bound by the provisions of the Intercreditor Agreement; and

     (3) as to any Series of Subordinated Lien Debt, the written agreement of the
Secured Debt Representative of such Series of Subordinated Lien Debt, the holders of such
Series of Subordinated Lien Debt or as set forth in this Indenture, credit agreement or
other agreement governing such Series of Subordinated Lien Debt, for the benefit of all
holders of Secured Debt and each then present or future Secured Debt Representative:

          (a) that all Subordinated Lien Obligations will be and are secured equally and
ratably by all Subordinated Liens at any time granted by the Company or any Subsidiary
Guarantor to secure any Obligations in respect of such Series of Subordinated Lien Debt,
whether or not upon property otherwise constituting Collateral for such Series of
Subordinated Lien Debt, and that all such Subordinated Liens will be enforceable by the
Collateral Trustee for the benefit of all holders of Subordinated Lien Obligations equally
and ratably;

          (b) that the holders of Obligations in respect of such Series of Subordinated Lien
Debt are bound by the provisions of the Collateral Trust Agreement and the Intercreditor
Agreement, including the provisions relating to the ranking of Subordinated Liens and the
order of application of proceeds from the enforcement of Subordinated Liens; and

          (c) consenting to the terms of the Collateral Trust Agreement and the Intercreditor
Agreement and the Collateral Trustee’s performance of, and directing the Collateral Trustee
to perform, its obligations under the Collateral Trust Agreement and the Intercreditor
Agreement.

     “Moody’s” means Moody’s Investors Service Inc., and any successor to the rating agency
business thereto.

     “Net Available Cash Account” means any deposit account or securities account established by
the Company or any Guarantor in accordance with the requirements of the covenant set forth in
Section 15 of the ABL Credit Facility and which does not contain proceeds of Loans (as defined in
the ABL Credit Facility) or ABL Priority Collateral and which has been identified to the ABL
Collateral Agent as such at the time that proceeds from any sale of Priority Lien Collateral or
Subordinated Lien Collateral shall be deposited pending final application in accordance with such
covenant.

     “Net Income” means, with respect to any Person, the net income (loss) of such Person,
determined in accordance with GAAP and before any reduction in respect of dividends on preferred
stock.

     “Net Proceeds” means the aggregate cash proceeds, including payments in respect of deferred
payment obligations (to the extent corresponding to the principal, but not the interest component,
thereof)

26

 

received by the Company or any of its Restricted Subsidiaries in respect of any Asset Sale
(including, without limitation, any cash received upon the sale or other disposition of any
non-cash consideration received in any Asset Sale), net of (1) the direct costs relating to such
Asset Sale and the sale or other disposition of any non-cash consideration, including, without
limitation, legal, accounting and investment banking fees, and brokerage or sales commissions, and
any relocation expenses incurred as a result thereof, (2) taxes paid or payable as a result
thereof, in each case, after taking into account any available tax credits or deductions and any
tax sharing arrangements, (3) amounts required to be applied to the repayment of Indebtedness or
other liabilities, secured by a Lien on the asset or assets that were the subject of such Asset
Sale, or required to be paid as a result of such sale, and (4) any reserve for adjustment in
respect of the sale price of such asset or assets established in accordance with GAAP, as well as
any other reserve established in accordance with GAAP related to pension and other post-employment
benefit liabilities, liabilities related to environmental matters, or any indemnification
obligations associated with such transaction; provided that, in the case of a Sale of a Subsidiary
Guarantor, any Net Proceeds received in such Sale of a Subsidiary Guarantor in respect of ABL
Priority Collateral will constitute Net Proceeds from an Asset Sale other than a Sale of a
Subsidiary Guarantor and will not constitute Net Proceeds from an Asset Sale that constitutes a
Sale of a Subsidiary Guarantor.

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

     “Non-Core Assets” means the following assets owned by the Company and/or its Subsidiaries on
the date hereof: (1) 623,521 shares of common stock of PrimeEnergy Corporation; (2) Hansford Street
property and building and fixtures related thereto (1352, 1354, 1401 and 1403 Hansford Street,
Charleston, WV 25301); and (3) Vacant lot and fixtures related thereto at Hillcrest Drive (835
Hillcrest Drive, Charleston, WV, 25311).

     “Non-U.S. Person” means a Person who is not a U.S. Person.

     “Note Documents” means this Indenture, the Notes and the Security Documents related to the
Notes, each as amended or supplemented in accordance with the terms thereof.

     “Note Guarantee” means a Guarantee of the Notes pursuant to this Indenture.

     “Notes” has the meaning assigned to it in the preamble to this Indenture. The Initial Notes
and the Additional Notes shall be treated as a single class for all purposes under this Indenture,
and unless the context otherwise requires, all references to the Notes shall include the Initial
Notes and any Additional Notes. For purposes of this Indenture, all references to Notes to be
issued or authenticated upon transfer, replacement or exchange pursuant to the terms of this
Indenture shall be deemed a Note under this Indenture.

     “Notes Priority Collateral” means all of the tangible and intangible properties and assets at
any time owned or acquired by the Company or any Subsidiary Guarantor, except:

     (1) Excluded Assets; and

     (2) ABL Priority Collateral.

     “Obligations” means any principal, interest, penalties, fees, expenses, indemnifications,
reimbursements, damages and other liabilities (including all interest, Special Interest (if any),
fees and expenses accruing after the commencement of any Insolvency or Liquidation Proceeding, even
if such

27

 

interest, fees and expenses are not enforceable, allowable or allowed as a claim in such
proceeding) under any Secured Debt Documents or ABL Debt Documents, as the case may be.

     “Offering Circular” means the offering circular, dated December 16, 2009, relating to the
offering of the Initial Notes.

     “Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive
Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer,
any Assistant Treasurer, the Controller, the General Counsel, the Secretary, any Executive Vice
President, any Senior Vice President, any Vice President or any Assistant Vice President of such
Person.

     “Officers’ Certificate” means a certificate signed on behalf of the Company by an Officer of
the Company, who must be the principal executive officer, the principal financial officer, the
treasurer, the principal accounting officer or the general counsel of the Company, that meets the
requirements of Section 13.05 hereof.

     “Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the
Trustee that meets the requirements of Section 13.05 hereof. The counsel may be an employee of or
counsel to the Company, any Subsidiary of the Company or the Trustee.

     “Parent” means McJunkin Red Man Holding Corporation, a Delaware corporation, and its
successors.

     “Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person who
has an account with the Depositary, Euroclear or Clearstream, respectively (and, with respect to
DTC, shall include Euroclear and Clearstream).

     “Permitted Business” means any business conducted or proposed to be conducted (as described in
the Offering Circular) by the Company and its Restricted Subsidiaries on the date of this Indenture
and other businesses reasonably related, complementary or ancillary thereto and reasonable
expansions or extensions thereof.

     “Permitted Holder” means each of the Principals and their Related Parties, PVF Holdings LLC
and its members, and members of management of the Company or a direct or indirect parent of the
Company and any group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange
Act or any successor provision) of which any of the foregoing are members; provided that in the
case of such group and without giving effect to the existence of such group or any other group,
such Principals, Related Parties, PVF Holdings LLC and its members and members of management,
collectively, have direct or indirect beneficial ownership of more than 50% of the total voting
power of the Voting Stock of the Company.

     “Permitted Investments” means:

     (1) any Investment in the Company or in a Restricted Subsidiary of the Company;

     (2) any Investment in cash or Cash Equivalents or Investment Grade Securities;

     (3) any Investment by the Company or any Restricted Subsidiary of the Company in a
Person, if as a result of such Investment:

          (a) such Person becomes a Restricted Subsidiary of the Company; or

28

 

          (b) such Person is merged, consolidated or amalgamated with or into, or transfers
or conveys substantially all of its assets to, or is liquidated into, the Company or a
Restricted Subsidiary of the Company;

	 	 	 	and, in each case, any Investment held by such Person, provided that such Investment
was not acquired by such Person in contemplation of such acquisition, merger,
consolidation or transfer;

     (4) any Investment made as a result of the receipt of non-cash consideration from
an Asset Sale that was made pursuant to and in compliance with Section 4.10 hereof or from
any other disposition of assets not constituting an Asset Sale;

     (5) Investments to the extent acquired in exchange for the issuance of Equity
Interests (other than Disqualified Stock) of the Company or any direct or indirect parent of
the Company;

     (6) Hedging Obligations that are incurred in the normal course of business and not
for speculative purposes, and that do not increase the Indebtedness of the obligor
outstanding at any time other than as a result of fluctuations in interest rates, commodity
prices or foreign currency exchange rates or by reason of fees, indemnities and compensation
payable thereunder;

     (7) Investments received in satisfaction of judgments or in settlements of debt or
compromises of obligations incurred in the ordinary course of business;

     (8) loans or advances to employees of the Company or any of its Restricted
Subsidiaries that are approved by a majority of the disinterested members of the Board of
Directors of the Company or Parent, in an aggregate principal amount of $5.0 million at any
one time outstanding;

     (9) Investments consisting of the licensing or contribution of intellectual
property pursuant to joint marketing arrangements with other Persons; and

     (10) other Investments in any Person that is not an Affiliate of the Company (other
than a Restricted Subsidiary or any Person that is an Affiliate of the Company solely
because the Company, directly or indirectly, own Equity Interests in or controls such
Person) having an aggregate Fair Market Value (measured on the date each such Investment was
made and without giving effect to subsequent changes in value), when taken together with all
other Investments made pursuant to this clause (10) since the date of this Indenture, not to
exceed the greater of (a) $75.0 million and (b) 2.5% of the Company’s Consolidated Total
Assets at the time of such Investment;

     (11) any Investment existing on the date of this Indenture;

     (12) any Investment acquired by the Company or any of its Restricted Subsidiaries
(a) in exchange for any other Investment or accounts receivable held by the Company or any
such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout,
reorganization or recapitalization of the issuer of such other Investment or accounts
receivable or (b) as a result of a foreclosure by the Company or any of its Restricted
Subsidiaries with respect to any secured Investment or other transfer of title with respect
to any secured Investment in default;

29

 

     (13) guarantees of Indebtedness of the Company or any Restricted Subsidiary which
Indebtedness is permitted under Section 4.09 hereof;

     (14) any transaction which constitutes an Investment to the extent permitted and
made in accordance with Section 4.11 hereof;

     (15) Investments consisting of purchases and acquisitions of inventory, supplies,
material or equipment;

     (16) Investments (including debt obligations and Equity Interests) received in
connection with the bankruptcy or reorganization of suppliers and customers or in settlement
of delinquent obligations of, or other disputes with, customers and suppliers arising in the
ordinary course of business; and

     (17) Investments in Unrestricted Subsidiaries and joint ventures of the Company or
any of its Restricted Subsidiaries in an aggregate amount not to exceed $75.0 million.

     “Permitted Liens” means:

     (1) Liens on ABL Priority Collateral securing (a) ABL Debt in an aggregate
principal amount (as of the date of incurrence of any ABL Debt and after giving pro forma
effect to the application of the net proceeds therefrom and with letters of credit issued
under the ABL Credit Facility being deemed to have a principal amount equal to the face
amount thereof), not exceeding the ABL Lien Cap, and (b) all other ABL Debt Obligations;

     (2) Priority Liens securing (a) Priority Lien Debt in an aggregate principal amount
(as of the date of incurrence of any Priority Lien Debt and after giving pro forma effect to
the application of the net proceeds therefrom and with letters of credit issued under any
Priority Lien Documents being deemed to have a principal amount equal to the face amount
thereof), not exceeding the Priority Lien Cap, and (b) all other Priority Lien Obligations;

     (3) Subordinated Liens securing (a) Subordinated Lien Debt in an aggregate
principal amount (as of the date of incurrence of any Subordinated Lien Debt and after
giving pro forma effect to the application of the net proceeds therefrom), not exceeding the
Subordinated Lien Cap and (b) all other Subordinated Lien Obligations, which Liens are made
junior to the Priority Lien Obligations (and, with respect to ABL Priority Collateral, to
ABL Lien Obligations) pursuant to the Collateral Trust Agreement and the Intercreditor
Agreement;

     (4) Liens in favor of the Company or any Restricted Subsidiary;

     (5) Liens on property or Capital Stock of a Person existing at the time such Person
is acquired by, merged with or into or consolidated, combined or amalgamated with the
Company or any Restricted Subsidiary of the Company; provided that such Liens were in
existence prior to, and were not incurred in connection with or in contemplation of, such
merger, acquisition, consolidation, combination or amalgamation and do not extend to any
assets other than those of the Person acquired by or merged into or consolidated, combined
or amalgamated with the Company or the Restricted Subsidiary;

     (6) Liens on property existing at the time of acquisition thereof by the Company or
any Restricted Subsidiary of the Company; provided that such Liens were in existence prior
to, and were not incurred in connection with or in contemplation of, such acquisition and do
not

30

 

extend to any property other than the property so acquired by the Company or the
Restricted Subsidiary;

     (7) Liens existing on the date of this Indenture, other than liens to secure the
Notes issued on the date of this Indenture or to secure Obligations under the ABL Credit
Facility outstanding on the date of this Indenture;

     (8) Liens to secure any Permitted Refinancing Indebtedness permitted to be incurred
under this Indenture (other than ABL Debt, Priority Lien Debt or Subordinated Lien Debt);
provided that (a) the new Lien shall be limited to all or part of the same property and
assets that secured the original Lien, and (b) the Indebtedness secured by the new Lien is
not increased to any amount greater than the sum of (i) the outstanding principal amount or,
if greater, committed amount of the Indebtedness renewed, refunded, refinanced, replaced,
defeased or discharged with such Permitted Refinancing Indebtedness, and (ii) an amount
necessary to pay any fees and expenses, including premiums, related to such renewal,
refunding, refinancing, replacement, defeasance or discharge;

     (9) Liens to secure Indebtedness (including Capital Lease Obligations) permitted by
Section 4.09(b)(4) hereof, provided that any such Lien (i) covers only the assets acquired,
constructed or improved with such Indebtedness and (ii) is created within 180 days of such
acquisition, construction or improvement;

     (10) Liens incurred or pledges or deposits made in the ordinary course of business
in connection with workers’ compensation, unemployment insurance and other types of social
security and employee health and disability benefits;

     (11) Liens to secure the performance of bids, tenders, completion guarantees,
public or statutory obligations, surety or appeal bonds, bid leases, performance bonds,
reimbursement obligations under letters of credit that do not constitute Indebtedness or
other obligations of a like nature, and deposits as security for contested taxes or for the
payment of rent, in each case incurred in the ordinary course of business;

     (12) Liens for taxes, assessments or governmental charges or claims that are not
yet overdue by more than 30 days or that are payable or subject to penalties for nonpayment
or that are being contested in good faith by appropriate proceedings promptly instituted and
diligently conducted; provided that any reserve or other appropriate provision required
under GAAP has been made therefor;

     (13) Carriers’, warehousemen’s, landlords’, mechanics’, suppliers’, materialmen’s
and repairmen’s and similar Liens, or Liens in favor of customs or revenue authorities or
freight forwarders or handlers to secure payment of custom duties, in each case (whether
imposed by law or agreement) incurred in the ordinary course of business;

     (14) licenses, entitlements, servitudes, easements, rights-of-way, restrictions,
reservations, covenants, conditions, utility agreements, rights of others to use sewers,
electric lines and telegraph and telephone lines, minor imperfections of title, minor survey
defects, minor encumbrances or other similar restrictions on the use of any real property,
including zoning or other restrictions as to the use of real properties or Liens incidental
to the conduct of the business, that were not incurred in connection with Indebtedness and
do not, in the aggregate, materially diminish the value of said properties or materially
interfere with their use in the operation of the business of the Company or any of its
Restricted Subsidiaries;

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     (15) leases, subleases, licenses, sublicenses or other occupancy agreements granted
to others in the ordinary course of business which do not secure any Indebtedness and which
do not materially interfere with the ordinary course of business of the Company or any of
its Restricted Subsidiaries;

     (16) with respect to any leasehold interest where the Company or any Restricted
Subsidiary of the Company is a lessee, tenant, subtenant or other occupant, mortgages,
obligations, liens and other encumbrances incurred, created, assumed or permitted to exist
and arising by, through or under a landlord or sublandlord of such leased real property
encumbering such landlord’s or sublandlord’s interest in such leased real property;

     (17) Liens arising from Uniform Commercial Code financing statement filings
regarding precautionary filings, consignment arrangements or operating leases entered into
by the Company or any of its Restricted Subsidiaries granted in the ordinary course of
business;

     (18) Liens (i) of a collection bank arising under Section 4-210 of the New York
Uniform Commercial Code on items in the course of collection, (ii) in favor of banking
institutions arising as a matter of law encumbering deposits (including the right of
set-off) within general parameters customary in the banking industry or (iii) attaching to
commodity trading accounts or other commodity brokerage accounts incurred in the ordinary
course of business;

     (19) Liens securing judgments for the payment of money not constituting an Event of
Default pursuant to clause (6) of Section 6.01 hereof, so long as such Liens are adequately
bonded;

     (20) deposits made in the ordinary course of business to secure liability to
insurance carriers;

     (21) Liens arising out of conditional sale, title retention, consignment or similar
arrangements, or that are contractual rights of set-off, relating to the sale or purchase of
goods entered into by the Company or any of its Restricted Subsidiaries in the ordinary
course of business;

     (22) any encumbrance or restriction (including put and call arrangements) with
respect to Capital Stock of any joint venture or similar arrangement pursuant to any joint
venture or similar agreement permitted under this Indenture;

     (23) any extension, renewal or replacement, in whole or in part of any Lien set
forth in clauses (5), (6), (7), (9), (13) through (16), (18), (19) and (22) through (29) of
this definition of “Permitted Liens;” provided that any such extension, renewal or
replacement is no more restrictive in any material respect than any Lien so extended,
renewed or replaced and does not extend to any additional property or assets;

     (24) Liens on cash or cash equivalents deposited to secure Hedging Obligations
incurred by the Company or any Subsidiary Guarantor in the normal course of business and not
for speculative purposes;

     (25) Liens other than any of the foregoing incurred by the Company or any
Restricted Subsidiary of the Company with respect to Indebtedness or other obligations that
do not, in the aggregate, exceed $50.0 million at any one time outstanding;

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     (26) Liens on Capital Stock issued by, or any property or assets of, any Foreign
Subsidiary securing Indebtedness incurred by a Foreign Subsidiary in compliance with Section
4.09 hereof;

     (27) Liens deemed to exist in connection with Investments in repurchase agreements
permitted under Section 4.09 hereof, provided that such Liens do not extend to any assets
other than those that are the subject of such repurchase agreement;

     (28) Liens encumbering reasonable customary initial deposits and margin deposits
and similar Liens attaching to commodity trading accounts or other brokerage accounts
incurred in the ordinary course of business and not for speculative purposes; and

     (29) Liens solely on any cash earnest money deposits made by the Company or any of
its Restricted Subsidiaries in connection with any letter of intent or purchase agreement
not prohibited by this Indenture.

     “Permitted Prior Liens” means:

     (1) Liens set forth in clauses (1), (5), (6), (7), (8) (to the extent the Lien
refinanced pursuant to clause (8) itself qualified as a Permitted Prior Lien), (9), (10),
(11), (13), (18), (19), (20), (21), (22), (23) (to the extent the Lien refinanced pursuant
to clause (23) itself qualified as a Permitted Prior Lien), (24), (25), (26), (27), (28) and
(29) of the definition of “Permitted Liens;” and

     (2) Permitted Liens that arise by operation of law and are not voluntarily granted,
to the extent entitled by law to priority over the Liens created by the Security Documents.

     “Permitted Refinancing Indebtedness” means:

     (1) any Indebtedness of the Company or any of its Restricted Subsidiaries (other
than Disqualified Stock) issued in exchange for, or the net proceeds of which are used to
extend, refinance, renew, replace, defease or refund other Indebtedness of the Company or
any of its Restricted Subsidiaries (other than Disqualified Stock and intercompany
Indebtedness); provided that:

          (a) the principal amount (or accreted value, if applicable) of such Permitted
Refinancing Indebtedness does not exceed the principal amount (or accreted value, if
applicable) of the Indebtedness so extended, refinanced, renewed, replaced, defeased or
refunded (plus all accrued interest thereon and the amount of any reasonably determined
premium necessary to accomplish such refinancing and such reasonable fees and expenses
incurred in connection therewith);

          (b) such Permitted Refinancing Indebtedness has a final maturity date later than
the final maturity date of, and has a Weighted Average Life to Maturity equal to or greater
than the Weighted Average Life to Maturity of, the Indebtedness being extended, refinanced,
renewed, replaced, defeased or refunded;

          (c) if the Indebtedness being extended, refinanced, renewed, replaced, defeased or
refunded is contractually subordinated in right of payment to the Notes or the Note
Guarantees, such Permitted Refinancing Indebtedness is contractually subordinated in right
of payment to the Notes on terms at least as favorable to the Holders of Notes as those
contained in the

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documentation governing the Indebtedness being extended, refinanced, renewed, replaced,
defeased or refunded;

          (d) if the Indebtedness being extended, refinanced, renewed, replaced, defeased or
refunded is pari passu in right of payment with the Notes or any Note Guarantees, such
Permitted Refinancing Indebtedness is pari passu in right of payment with, or subordinated
in right of payment to, the Notes or such Note Guarantees; and

          (e) such Indebtedness is incurred either (i) by the Company or any Subsidiary
Guarantor or (ii) by the Restricted Subsidiary who is the obligor on the Indebtedness being
extended, refinanced, renewed, replaced, defeased or refunded; and

     (2) any Disqualified Stock of the Company or any of its Restricted Subsidiaries
issued in exchange for, or the net proceeds of which are used to extend, refinance, renew,
replace or refund other Disqualified Stock of the Company or any of its Restricted
Subsidiaries (other than Disqualified Stock held by the Company or any of its Restricted
Subsidiaries); provided that:

          (a) the liquidation or face value of such Permitted Refinancing Indebtedness does
not exceed the liquidation or face value of the Disqualified Stock so extended, refinanced,
renewed, replaced or refunded (plus all accrued dividends thereon and the amount of any
reasonably determined premium necessary to accomplish such refinancing and such reasonable
fees and expenses incurred in connection therewith);

          (b) such Permitted Refinancing Indebtedness has a final redemption date later than
the final redemption date of, and has a Weighted Average Life to Maturity equal to or
greater than the Weighted Average Life to Maturity of, the Disqualified Stock being
extended, refinanced, renewed, replaced or refunded;

          (c) such Permitted Refinancing Indebtedness has a final redemption date later than
the final maturity date of, and is contractually subordinated in right of payment to, the
Notes on terms at least as favorable to the Holders of Notes as those contained in the
documentation governing the Disqualified Stock being extended, refinanced, renewed, replaced
or refunded;

          (d) such Permitted Refinancing Indebtedness is not redeemable at the option of the
holder thereof or mandatorily redeemable prior to the final maturity of the Disqualified
Stock being extended, refinanced, renewed, replaced or refunded; and

          (e) such Disqualified Stock is issued either (i) by the Company or any Subsidiary
Guarantor or (ii) by the Restricted Subsidiary that is the issuer of the Disqualified Stock
being extended, refinanced, renewed, replaced or refunded.

     “Person” means any individual, corporation, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization, limited liability company or government or
other entity.

     “preferred stock” means, with respect to any Person, any Capital Stock of such Person that has
preferential rights to any other Capital Stock of such Person with respect to dividends or
redemptions upon liquidation.

     “Principals” means The Goldman Sachs Group, Inc., a Delaware corporation, Goldman, Sachs &
Co., a New York limited partnership, GS Capital Partners V Fund, L.P., a Delaware limited
partnership, and GS Capital Partners VI Fund, L.P., a Delaware limited partnership.

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     “Priority Lien” means a Lien granted by a Security Document to the Collateral Trustee, at any
time, upon any property of the Company or any Guarantor to secure Priority Lien Obligations.

     “Priority Lien Cap” means, as of any date of determination, the amount of Priority Lien Debt
that may be incurred by the Company or any of the Subsidiary Guarantors such that, after giving pro
forma effect to such incurrence and the application of the net proceeds therefrom, the Priority
Lien Debt Ratio would not exceed (i) 3.75 to 1.0 at any time after the Company’s financial results
for the fiscal quarter ended March 31, 2010 would be included in the calculation of the Priority
Lien Debt Ratio and (ii) 3.00 to 1.0 at any time prior thereto.

     “Priority Lien Debt” means:

     (1) the Notes initially issued by the Company under this Indenture together with
the related Note Guarantees of the Subsidiary Guarantors (and Exchange Notes and exchange
guarantees issued in lieu thereof);

     (2) additional notes issued under any indenture or other Indebtedness (including
letters of credit and reimbursement obligations with respect thereto) of the Company that is
secured equally and ratably with the Notes by a Priority Lien that was permitted to be
incurred and so secured under each applicable Secured Debt Document, and guarantees
(including Note Guarantees) thereof by any of the Guarantors; provided, in the case of any
additional notes, guarantees or other Indebtedness referred to in this clause (2), that:

          (a) on or before the date on which such additional notes are issued or Indebtedness
is incurred by the Company or guarantees incurred by such Subsidiary Guarantor, such
additional notes, guarantees or other Indebtedness, as applicable, is designated by the
Company, in an Officers’ Certificate delivered to the Collateral Trustee, as “Priority Lien
Debt” for the purposes of the Secured Debt Documents; provided that no Series of Secured
Debt may be designated as both Subordinated Lien Debt and Priority Lien Debt and no Series
of Secured Debt may be designated as both ABL Debt and Priority Lien Debt;

          (b) such additional notes, guarantees or other Indebtedness is governed by an
indenture or a credit agreement, as applicable, or other agreement that includes a Lien
Sharing and Priority Confirmation and meets the requirements of Section 10.01 of this
Indenture; and

          (c) all requirements set forth in the Collateral Trust Agreement as to the
confirmation, grant or perfection of the Collateral Trustee’s Lien to secure such additional
notes, guarantees or other Indebtedness or Obligations in respect thereof are satisfied (and
the satisfaction of such requirements and the other provisions of this clause (c) will be
conclusively established if the Company delivers to the Collateral Trustee an Officers’
Certificate stating that such requirements and other provisions have been satisfied and that
such notes, guarantees or other Indebtedness is “Priority Lien Debt”); and

     (3) Hedging Obligations of the Company or any Subsidiary Guarantor incurred in
accordance with the terms of the Secured Debt Documents; provided that:

          (a) on or before or within thirty (30) days after the date on which such Hedging
Obligations are incurred by the Company or Subsidiary Guarantor (or on or within
thirty (30) days after the date hereof for Hedging Obligations in existence on the date
hereof), such Hedging Obligations are designated by the Company or Subsidiary Guarantor, as
applicable, in an Officers’ Certificate delivered to the Collateral Trustee, as “Priority
Lien Debt” for the purposes

35

 

of the Secured Debt Documents; provided that no Hedging Obligation may be designated as
both Priority Lien Debt and Subordinated Lien Debt;

          (b) the counterparty in respect of such Hedging Obligations, in its capacity as a
holder or beneficiary of such Priority Lien, executes and delivers a joinder to the
Collateral Trust Agreement in accordance with the terms thereof or otherwise becomes subject
to the terms of the Collateral Trust Agreement; and

          (c) all other requirements set forth in the Collateral Trust Agreement have been
complied with (and the satisfaction of such requirements will be conclusively established if
the Company delivers to the Collateral Trustee an Officers’ Certificate stating that such
requirements and other provisions have been satisfied and that such Hedging Obligations are
“Priority Lien Debt”).

     “Priority Lien Debt Ratio” means, as of any date of determination, the ratio of Priority Lien
Debt of the Company and its Restricted Subsidiaries as of that date to the Company’s Consolidated
Cash Flow for the most recently ended four full fiscal quarters for which internal financial
statements are available immediately preceding the date of determination, with such adjustments to
the amount of Priority Lien Debt and Consolidated Cash Flow as are consistent with the adjustment
provisions set forth in the definition of “Fixed Charge Coverage Ratio.” For purposes of this
calculation, the amount of Priority Lien Debt outstanding as of any date of determination shall not
include any Priority Lien Debt that consists solely of Hedging Obligations that are incurred in the
normal course of business and not for speculative purposes.

     For purposes of this calculation, the amount of Priority Lien Debt outstanding as of any date
of determination shall not include any Priority Lien Debt that consists solely of Hedging
Obligations that are incurred in the normal course of business and not for speculative purposes.

     “Priority Lien Documents” means this Indenture and any additional indenture, credit facility
or other agreement pursuant to which any Priority Lien Debt is incurred and the security documents
related thereto (other than any security documents that do not secure Priority Lien Obligations),
as each may be amended, supplemented or otherwise modified.

     “Priority Lien Obligations” means Priority Lien Debt and all other Obligations in respect
thereof.

     “Priority Lien Representative” means (1) the Collateral Trustee, in the case of the Notes, or
(2) in the case of any other Series of Priority Lien Debt, the trustee, agent or representative of
the holders of such Series of Priority Lien Debt who is appointed as a representative of such
Series of Priority Lien Debt (for purposes related to the administration of the Security Documents)
pursuant to the indenture, credit agreement or other agreement governing such Series of Priority
Lien Debt.

     “Private Placement Legend” means the legend set forth in Section 2.06(g)(1) hereof to be
placed on all Notes issued under this Indenture except where otherwise permitted by the provisions
of this Indenture.

     “Pro Forma Cost Savings” means, with respect to any period, the reduction in net costs and
related adjustments that (1) are directly attributable to an acquisition that occurred during the
four-quarter period or after the end of the four-quarter period and on or prior to the Calculation
Date and calculated on a basis that is consistent with Regulation S-X under the Securities Act as
in effect and applied as of the date of this Indenture, (2) were actually implemented with respect
to any acquisition within 12 months after the date of the acquisition and prior to the Calculation
Date that are supportable and quantifiable by

36

 

underlying accounting records or (3) the Company reasonably determines are probable based upon
specifically identifiable actions taken or to be taken within 12 months of the date of
determination and, in the case of each of (1), (2) and (3), are set forth, as provided below, in an
Officers’ Certificate, as if all such reductions in costs had been effected as of the beginning of
such period. Pro Forma Cost Savings set forth above shall be established by a certificate delivered
to the Trustee from the Company’s Chief Financial Officer that outlines the specific actions taken
or to be taken and the net cost savings achieved or to be achieved from each such action and, in
the case of clause (3) above, that states such savings have been determined to be probable.

     “QIB” means a “qualified institutional buyer” as defined in Rule 144A.

     “Qualified Equity Offering” means (1) any public or private placement of Capital Stock (other
than Disqualified Stock) of the Company, Parent or any other direct or indirect parent of the
Company (other than Capital Stock sold to the Company or a Subsidiary of the Company); provided
that if such public offering or private placement is of Capital Stock of Parent or any other direct
or indirect parent of the Company, the term “Qualified Equity Offering” shall refer to the portion
of the net cash proceeds therefrom that has been contributed to the equity capital of the Company
or (2) the contribution of cash to the Company as an equity capital contribution.

     “Rating Agency” means each of (1) S&P, (2) Moody’s and (3) if either S&P or Moody’s no longer
provide ratings, any other ratings agency which is nationally recognized for rating debt
securities.

     “Refinancing Transactions” means this offering of Notes on the date of this Indenture and the
application of the use of proceeds therefrom as set forth in the Offering Circular.

     “Registration Rights Agreement” means the registration rights agreement, to be dated the date
of this Indenture, among the Company, the Guarantors, Goldman, Sachs & Co and Barclays Capital
Inc., as such agreement may be amended, modified or supplemented from time to time in accordance
therewith and, with respect to any Additional Notes, one or more registration rights agreements
among the Company, the Guarantors and the other parties thereto, as such agreement(s) may be
amended, modified or supplemented from time to time, relating to rights given by the Company to the
purchasers of Additional Notes to register such Additional Notes under the Securities Act.

     “Regulation S” means Regulation S promulgated under the Securities Act.

     “Regulation S Global Note” means a Regulation S Temporary Global Note or Regulation S
Permanent Global Note, as appropriate.

     “Regulation S Permanent Global Note” means a permanent Global Note in the form of Exhibit A1
hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on
behalf of and registered in the name of the Depositary or its nominee, issued in a denomination
equal to the outstanding principal amount of the Regulation S Temporary Global Note upon expiration
of the Restricted Period.

     “Regulation S Temporary Global Note” means a temporary Global Note in the form of Exhibit A2
hereto deposited with or on behalf of and registered in the name of the Depositary or its nominee,
issued in a denomination equal to the outstanding principal amount of the Notes initially sold in
reliance on Rule 903 of Regulation S.

     “Related Party” means (1) any investment fund under common control or management with The
Goldman Sachs Group, Inc., (2) any controlling stockholder, general partner or member of The
Goldman

37

 

Sachs Group, Inc. and (3) any trust, corporation, limited liability company or other entity,
the beneficiaries, stockholders, members, general partners or Persons Beneficially Owning an 80% or
more interest of which consist of The Goldman Sachs Group, Inc. and/or the Persons referred to in
the immediately preceding clauses (1) and (2). Notwithstanding the foregoing, the term “Related
Party” shall not include any operating company which would be deemed a “Related Party” solely by
virtue of ownership by The Goldman Sachs Group, Inc. and/or the Persons referred to in the
immediately preceding clauses (1) and (2).

     “Replacement Assets” means (1) tangible assets that will be used or useful in a Permitted
Business or (2) substantially all the assets of a Permitted Business or a majority of the Voting
Stock of any Person engaged in a Permitted Business that will become on the date of acquisition
thereof a Restricted Subsidiary.

     “Required Subordinated Lien Debtholders” means, at any time, the holders of a majority in
aggregate principal amount of all Subordinated Lien Debt then outstanding, calculated in accordance
with Section 7.2 of the Collateral Trust Agreement. For purposes of this definition, Subordinated
Lien Debt registered in the name of, or beneficially owned by, any issuer thereof, any guarantor
thereof or any Affiliate of any issuer or any guarantor thereof will be deemed not to be
outstanding.

     “Responsible Officer,” when used with respect to the Trustee, means any officer within the
Corporate Trust Administration of the Trustee (or any successor group of the Trustee) or any other
officer of the Trustee customarily performing functions similar to those performed by any of the
above designated officers and also means, with respect to a particular corporate trust matter, any
other officer to whom such matter is referred because of his knowledge of and familiarity with the
particular subject.

     “Restricted Definitive Note” means a Definitive Note bearing the Private Placement Legend.

     “Restricted Global Note” means a Global Note bearing the Private Placement Legend.

     “Restricted Investment” means an Investment other than a Permitted Investment.

     “Restricted Period” means the 40-day distribution compliance period as defined in Regulation
S.

     “Restricted Subsidiary” of a Person means any Subsidiary of the referent Person that is not an
Unrestricted Subsidiary.

     “Rule 144” means Rule 144 promulgated under the Securities Act.

     “Rule 144A” means Rule 144A promulgated under the Securities Act.

     “Rule 903” means Rule 903 promulgated under the Securities Act.

     “Rule 904” means Rule 904 promulgated under the Securities Act.

     “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.,
and any successor to the rating agency business thereto.

     “Sale and Leaseback Transaction” means, with respect to any Person, any transaction involving
any of the assets or properties of such Person whether now owned or hereafter acquired, whereby
such Person sells or transfers such assets or properties and then or thereafter leases such assets
or properties or any part thereof.

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     “Sale of a Subsidiary Guarantor” means (1) any Asset Sale to the extent involving a sale,
lease, conveyance or other disposition of a majority of the Capital Stock of a Subsidiary Guarantor
or (2) the issuance of Equity Interests by a Subsidiary Guarantor, other than (a) an issuance of
Equity Interests by a Subsidiary Guarantor to the Company or another Subsidiary Guarantor and (b)
an issuance of directors’ qualifying shares.

     “Sale of Notes Priority Collateral” means any Asset Sale to the extent involving a sale,
lease, conveyance or other disposition of Notes Priority Collateral.

     “SEC” means the Securities and Exchange Commission and any successor organization.

     “Secured Debt” means Priority Lien Debt and Subordinated Lien Debt.

     “Secured Debt Documents” means the Priority Lien Documents and the Subordinated Lien
Documents.

     “Secured Debt Representative” means each Priority Lien Representative and Subordinated Lien
Representative.

     “Secured Obligations” means Priority Lien Obligations and Subordinated Lien Obligations.

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

     “Security Agreement” means the Security Agreement dated as of the date of this Indenture, by
and among the Company, the Subsidiary Guarantors and the Collateral Trustee, as amended or
supplemented from time to time in accordance with its terms.

     “Security Documents” means the Collateral Trust Agreement, the Intercreditor Agreement, each
Lien Sharing and Priority Confirmation, and all security agreements, pledge agreements, collateral
assignments, collateral agency agreements, debentures, control agreements or other grants or
transfers for security executed and delivered by the Company or any Guarantor creating (or
purporting to create) a Lien upon Collateral in favor of the Collateral Trustee, in each case, as
amended, modified, renewed, restated or replaced, in whole or in part, from time to time, in
accordance with its terms and the provisions of Section 7.1 of the Collateral Trust Agreement.

     “Series of ABL Debt” means, severally, the ABL Credit Facility and any Credit Facility and
other Indebtedness or Hedging Obligations that constitute ABL Debt Obligations.

     “Series of Priority Lien Debt” means, severally, the Notes and any Additional Notes, any
Credit Facility (other than the ABL Credit Facility) and other Indebtedness or Hedging Obligations
that constitute Priority Lien Debt.

     “Series of Secured Debt” means each Series of Subordinated Lien Debt and each Series of
Priority Lien Debt.

     “Series of Subordinated Lien Debt” means, severally, each issue or series of Subordinated Lien
Debt for which a single transfer register is maintained.

     “Shelf Registration Statement” has the meaning set forth in the Registration Rights Agreement.

39

 

     “Significant Subsidiary” means any Restricted Subsidiary that would constitute a “significant
subsidiary” within the meaning of Article 1 of Regulation S-X under the Securities Act.

     “Special Interest” means all special interest then owing pursuant to the Registration Rights
Agreement.

     “Stated Maturity” means, with respect to any installment of interest or principal on any
series of Indebtedness, the date on which such payment of interest or principal was scheduled to be
paid in the original documentation governing such Indebtedness, and shall not include any
contingent obligations to repay, redeem or repurchase any such interest or principal prior to the
date originally scheduled for the payment thereof.

     “Subordinated Lien” means a Lien granted by a Security Document to the Collateral Trustee, at
any time, upon any Collateral of the Company or any Subsidiary Guarantor to secure Subordinated
Lien Obligations.

     “Subordinated Lien Cap” means, as of any date of determination, the amount of Subordinated
Lien Debt that may be incurred by the Company or any Subsidiary Guarantor such that, after giving
pro forma effect to such incurrence and the application of the net proceeds therefrom the
Subordinated Lien Debt Ratio would not exceed 4.0 to 1.0.

     For purposes of this calculation, the amount of Priority Lien Debt and/or Subordinated Lien
Debt outstanding as of any date of determination shall not include any Priority Lien Debt or
Subordinated Lien Debt that consists solely of Hedging Obligations that are incurred in the normal
course of business and not for speculative purposes.

     “Subordinated Lien Debt” means

     (1) any Indebtedness (including letters of credit and reimbursement obligations
with respect thereto) of the Company or any Subsidiary Guarantor that is secured on a
subordinated basis to the Priority Lien Debt by a Subordinated Lien that was permitted to be
incurred and so secured under each applicable Secured Debt Document; provided that:

          (a) on or before the date on which such Indebtedness is incurred by the Company or
such Subsidiary Guarantor, such Indebtedness is designated by the Company or Subsidiary
Guarantor, as applicable, in an Officers’ Certificate delivered to the Collateral Trustee,
as “Subordinated Lien Debt” for the purposes of this Indenture and the Collateral Trust
Agreement; provided that no Series of Secured Debt may be designated as both Subordinated
Lien Debt and Priority Lien Debt;

          (b) such Indebtedness is governed by an indenture, credit agreement or other
agreement that includes a Lien Sharing and Priority Confirmation and meets the requirements
of Section 10.02 of this Indenture; and

          (c) all requirements set forth in the Collateral Trust Agreement as to the
confirmation, grant or perfection of the Collateral Trustee’s Liens to secure such
Indebtedness or Obligations in respect thereof are satisfied (and the satisfaction of such
requirements and the other provisions of this clause (1) will be conclusively established if
the Company delivers to the Collateral Trustee an Officers’ Certificate stating that such
requirements and other provisions have been satisfied and that such Indebtedness is
“Subordinated Lien Debt”); and

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     (2) Hedging Obligations of the Company or any Subsidiary Guarantor incurred in
accordance with the terms of the Secured Debt Documents; provided that:

          (a) on or before or within thirty (30) days after the date on which such Hedging
Obligations are incurred by the Company or Subsidiary Guarantor (or on or within
thirty (30) days after the date hereof for Hedging Obligations in existence on the date
hereof), such Hedging Obligations are designated by the Company or Subsidiary Guarantor, as
applicable, in an Officers’ Certificate delivered to the Collateral Trustee, as
“Subordinated Lien Debt” for the purposes of the Secured Debt Documents; provided that no
Hedging Obligation may be designated as both Subordinated Lien Debt and Priority Lien Debt;

          (b) the counterparty in respect of such Hedging Obligations, in its capacity as a
holder or beneficiary of such Subordinated Lien, executes and delivers a joinder to the
Collateral Trust Agreement in accordance with the terms thereof or otherwise becomes subject
to the terms of the Collateral Trust Agreement; and

          (c) all other requirements set forth in the Collateral Trust Agreement have been
complied with (and the satisfaction of such requirements will be conclusively established if
the Company delivers to the Collateral Trustee an Officers’ Certificate stating that such
requirements and other provisions have been satisfied and that such Hedging Obligations are
“Subordinated Lien Debt”).

     “Subordinated Lien Debt Ratio” means, as of any date of determination, the ratio of (1)
Priority Lien Debt, plus (2) Subordinated Lien Debt of the Company and its Restricted Subsidiaries
as of that date to the Company’s Consolidated Cash Flow for the most recently ended four full
fiscal quarters for which internal financial statements are available immediately preceding the
date of determination, with such adjustments to the amount of Priority Lien Debt, the amount of
Subordinated Lien Debt and Consolidated Cash Flow as are consistent with the adjustment provisions
set forth in the definition of “Fixed Charge Coverage Ratio.” For purposes of this calculation,
the amount of Priority Lien Debt and/or Subordinated Lien Debt outstanding as of any date of
determination shall not include any Priority Lien Debt or Subordinated Lien Debt that consists
solely of Hedging Obligations that are incurred in the normal course of business and not for
speculative purposes.

     “Subordinated Lien Documents” means, collectively, any indenture, credit agreement or other
agreement governing each Series of Subordinated Lien Debt and the security documents related
thereto (other than any security documents that do not secure Subordinated Lien Obligations), in
each case as such documents may be amended, restated, modified or supplemented from time to time in
accordance with their terms.

     “Subordinated Lien Obligations” means Subordinated Lien Debt and all other Obligations in
respect thereof.

     “Subordinated Lien Representative” means, in the case of any future Series of Subordinated
Lien Debt, the trustee, agent or representative of the holders of such Series of Subordinated Lien
Debt who (1) is appointed as a Subordinated Lien Representative (for purposes related to the
administration of the Security Documents) pursuant to the indenture, credit agreement or other
agreement governing such Series of Subordinated Lien Debt, together with its successors in such
capacity, and (2) has become a party to the Collateral Trust Agreement by executing a joinder in
the form required under the Collateral Trust Agreement.

     “Subsidiary” means, with respect to any specified Person:

41

 

     (1) any corporation, association or other business entity of which more than 50% of
the total voting power of shares of Capital Stock entitled (without regard to the occurrence
of any contingency) to vote in the election of directors, managers or trustees thereof is at
the time owned or controlled, directly or indirectly, by such Person or one or more of the
other subsidiaries of that Person (or a combination thereof); and

     (2) any partnership (a) the sole general partner or the managing general partner of
which is such Person or a subsidiary of such Person or (b) the only general partners of
which are such Person or one or more subsidiaries of such Person (or any combination
thereof).

     “Subsidiary Guarantor” means a Guarantor that is a Restricted Subsidiary of the Company.

     “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb).

     “Treasury Management Arrangement” means any agreement or other arrangement governing the
provision of treasury or cash management services, including deposit accounts, overdraft, credit or
debit card, funds transfer, automated clearinghouse, zero balance accounts, returned check
concentration, controlled disbursement, lockbox, account reconciliation and reporting and trade
finance services and other cash management services.

     “Treasury Rate” means, as of any redemption date, the yield to maturity as of such redemption
date of United States Treasury securities with a constant maturity (as compiled and published in
the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available
at least two Business Days prior to the redemption date (or, if such Statistical Release is no
longer published, any publicly available source of similar market data)) most nearly equal to the
period from the redemption date to December 15, 2012; provided, however, that if the period from
the redemption date to December 15, 2012, is less than one year, the weekly average yield on
actually traded United States Treasury securities adjusted to a constant maturity of one year will
be used.

     “Trustee” means U.S. Bank National Association, until a successor replaces it in accordance
with the applicable provisions of this Indenture and thereafter means the successor serving
hereunder.

     “Uniform Commercial Code” means the Uniform Commercial Code as in effect from time to time in
any applicable jurisdiction.

     “Unrestricted Definitive Note” means a Definitive Note that does not bear and is not required
to bear the Private Placement Legend.

     “Unrestricted Global Note” means a Global Note that does not bear and is not required to bear
the Private Placement Legend.

     “Unrestricted Subsidiary” means any Subsidiary of the Company that is designated as an
Unrestricted Subsidiary pursuant to a resolution of the Company’s or Parent’s Board of Directors in
compliance with Section 4.16 hereof, and any Subsidiary of such Subsidiary.

     “U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated under the Securities
Act.

     “Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at
the time entitled to vote in the election of the Board of Directors of such Person.

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     “Weighted Average Life to Maturity” means, when applied to any Indebtedness or Disqualified
Stock at any date, the number of years obtained by dividing:

     (1) the sum of the products obtained by multiplying (a) the amount of each then
remaining installment, sinking fund, serial maturity or other required payments of principal
or liquidation or face value, including payment at final maturity or redemption, in respect
thereof, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse
between such date and the making of such payment; by

     (2) the then outstanding principal or liquidation or face value amount of such
Indebtedness or Disqualified Stock.

     “Wholly Owned Domestic Subsidiary” of any specified Person means a Domestic Subsidiary of such
Person all of the outstanding Capital Stock or other ownership interest of which shall at the time
be owned by such Person or by one or more Wholly Owned Restricted Subsidiaries of such Person.

     “Wholly Owned Restricted Subsidiary” of any specified Person means a Restricted Subsidiary of
such Person all of the outstanding Capital Stock or other ownership interests of which (other than
directors’ qualifying shares or Investments by foreign nationals mandated by applicable law) shall
at the time be owned by such Person or by one or more Wholly Owned Restricted Subsidiaries of such
Person and one or more Wholly Owned Restricted Subsidiaries of such Person.

Section 1.02 Other Definitions.

	 	 	 	 	 
	 	 	Defined in	 
	Term	 	Section	 
	“Affiliate Transaction”
	 	 	4.11	 
	“After-Acquired Property”
	 	 	10.09	 
	“Asset Sale Offer”
	 	 	3.09	 
	“Authentication Order”
	 	 	2.02	 
	“Calculation Date”
	 	 	1.01	 
	“Change of Control Offer”
	 	 	4.14	 
	“Change of Control Payment”
	 	 	4.14	 
	“Change of Control Payment Date”
	 	 	4.14	 
	“Covenant Defeasance”
	 	 	8.03	 
	“DTC”
	 	 	2.03	 
	“Event of Default”
	 	 	6.01	 
	“Excess Proceeds”
	 	 	4.10	 
	“Initial Mortgaged Property”
	 	 	10.09	 
	“Legal Defeasance”
	 	 	8.02	 
	“Mortgage”
	 	 	10.09	 
	“Offer Amount”
	 	 	3.09	 
	“Offer Period”
	 	 	3.09	 
	“Paying Agent”
	 	 	2.03	 
	“Permitted Debt”
	 	 	4.09	 
	“Payment Default”
	 	 	6.01	 
	“Purchase Date”
	 	 	3.09	 
	“Registrar”
	 	 	2.03	 
	“Restricted Payments”
	 	 	4.07	 
	“relevant transactions”
	 	 	1.01	 

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Section 1.03 Incorporation by Reference of Trust Indenture Act.

     Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by
reference in and made a part of this Indenture.

     The following TIA terms used in this Indenture have the following meanings:

     “indenture securities” means the Notes;

     “indenture security holder” means a Holder of a Note;

     “indenture to be qualified” means this Indenture;

     “indenture trustee” or “institutional trustee” means the Trustee;

     “issuer” means the Company; and

     “obligor” on the Notes and the Note Guarantees means the Company and the Guarantors,
respectively, and any successor obligor upon the Notes and the Note Guarantees, respectively.

     All other terms used in this Indenture that are defined by the TIA, defined by TIA reference
to another statute or defined by SEC rule under the TIA have the meanings so assigned to them.

     Notwithstanding the foregoing, the TIA and the terms and provisions thereof shall not apply to
this Indenture until such time as the Notes are registered under the Securities Act and this
Indenture is qualified under the TIA.

Section 1.04 Rules of Construction.

     Unless the context otherwise requires:

     (1) a term has the meaning assigned to it;

     (2) an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP;

     (3) “or” is not exclusive;

     (4) words in the singular include the plural, and in the plural include the
singular;

     (5) “will” shall be interpreted to express a command;

     (6) provisions apply to successive events and transactions;

     (7) references to sections of or rules under the Securities Act will be deemed to
include substitute, replacement of successor sections or rules adopted by the SEC from time
to time;

     (8) any reference to an “Article,” “Section” or “clause” refers to an Article,
Section or clause, as the case may be, of this Indenture;

44

 

     (9) the words “herein,” “hereof” and “hereunder” and other words of similar import
refer to this Indenture as a whole and not any particular Article, Section, clause or other
subdivision; and

     (10) the phrase “in writing” as used herein shall be deemed to include .pdf
attachments and other electronic means of transmission, unless otherwise indicated.

ARTICLE 2

THE NOTES

Section 2.01 Form and Dating.

     (a) General. The Notes and the Trustee’s certificate of authentication will be
substantially in the form of Exhibits A1 and A2 hereto. The Notes may have notations, legends or
endorsements required by law, stock exchange rule or usage. Each Note will be dated the date of
its authentication. The Notes shall be in denominations of $2,000 and integral multiples of $1,000
in excess thereof.

     The terms and provisions contained in the Notes will constitute, and are hereby expressly
made, a part of this Indenture and the Company, the Guarantors and the Trustee, by their execution
and delivery of this Indenture, expressly agree to such terms and provisions and to be bound
thereby. However, to the extent any provision of any Note conflicts with the express provisions of
this Indenture, the provisions of this Indenture shall govern and be controlling.

     (b) Global Notes. Notes issued in global form will be substantially in the form of
Exhibits A1 or A2 hereto (including the Global Note Legend thereon and the “Schedule of Exchanges
of Interests in the Global Note” attached thereto). Notes issued in definitive form will be
substantially in the form of Exhibit A1 hereto (but without the Global Note Legend thereon and
without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global
Note will represent such of the outstanding Notes as will be specified therein and each shall
provide that it represents the aggregate principal amount of outstanding Notes from time to time
endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby
may from time to time be reduced or increased, as appropriate, to reflect exchanges and
redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in
the aggregate principal amount of outstanding Notes represented thereby will be made by the Trustee
or the Custodian, at the direction of the Trustee, in accordance with instructions given by the
Holder thereof as required by Section 2.06 hereof.

     (c) Temporary Global Notes. Notes offered and sold in reliance on Regulation S will be
issued initially substantially in the form of Exhibit A2 hereto, which will be deposited on behalf
of the purchasers of the Notes represented thereby with the Trustee, at its Corporate Trust Office,
as custodian for the Depositary, and registered in the name of the Depositary or the nominee of the
Depositary for the accounts of designated agents holding on behalf of Euroclear or Clearstream,
duly executed by the Company and authenticated by the Trustee as hereinafter provided. The
Restricted Period will be terminated upon the receipt by the Trustee of:

     (1) a written certificate from the Depositary, if available, together with copies
of certificates from Euroclear and Clearstream, if available, certifying that they have
received certification of non-United States beneficial ownership of 100% of the aggregate
principal amount of the Regulation S Temporary Global Note (except to the extent of any
beneficial owners thereof who acquired an interest therein during the Restricted Period
pursuant to another exemption from registration under the Securities Act and who will take
delivery of a beneficial

45

 

ownership interest in a 144A Global Note or an IAI Global Note bearing a Private
Placement Legend, all as contemplated by Section 2.06(b) hereof); and

     (2) an Officers’ Certificate from the Company.

     Following the termination of the Restricted Period, beneficial interests in the Regulation S
Temporary Global Note will be exchanged for beneficial interests in the Regulation S Permanent
Global Note pursuant to the Applicable Procedures. Simultaneously with the authentication of the
Regulation S Permanent Global Note, the Trustee will cancel the Regulation S Temporary Global Note.
The aggregate principal amount of the Regulation S Temporary Global Note and the Regulation S
Permanent Global Note may from time to time be increased or decreased by adjustments made on the
records of the Trustee and the Depositary or its nominee, as the case may be, in connection with
transfers of interest as hereinafter provided.

     (3) Euroclear and Clearstream Procedures Applicable. The provisions of the
“Operating Procedures of the Euroclear System” and “Terms and Conditions Governing Use of
Euroclear” and the “General Terms and Conditions of Clearstream Banking” and “Customer
Handbook” of Clearstream will be applicable to transfers of beneficial interests in the
Regulation S Temporary Global Note and the Regulation S Permanent Global Note that are held
by Participants through Euroclear or Clearstream.

Section 2.02 Execution and Authentication.

     At
least one Officer must sign the Notes for the Company by manual, facsimile, .pdf attachment
or other electronically transmitted signature.

     If an Officer whose signature is on a Note no longer holds that office at the time a Note is
authenticated, the Note will nevertheless be valid.

     A Note will not be valid until authenticated by the manual signature of the Trustee. The
signature will be conclusive evidence that the Note has been authenticated under this Indenture.

     The Trustee will, upon receipt of a written order of the Company signed by two Officers (an
“Authentication Order”), authenticate Notes for original issue that may be validly issued under
this Indenture, including any Additional Notes. The aggregate principal amount of Notes
outstanding at any time may not exceed the aggregate principal amount of Notes authorized for
issuance by the Company pursuant to one or more Authentication Orders, except as provided in
Section 2.07 hereof.

     The Trustee may appoint an authenticating agent acceptable to the Company to authenticate
Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so. Each
reference in this Indenture to authentication by the Trustee includes authentication by such agent.
An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of
the Company.

Section 2.03 Registrar and Paying Agent.

     The Company will maintain an office or agency where Notes may be presented for registration of
transfer or for exchange (“Registrar”) and an office or agency where Notes may be presented for
payment (“Paying Agent”). The Registrar will keep a register of the Notes and of their transfer
and exchange. The Company may appoint one or more co-registrars and one or more additional paying
agents. The term “Registrar” includes any co-registrar and the term “Paying Agent” includes any
additional paying agent. The Company may change any Paying Agent or Registrar without notice to
any Holder. The Company

46

 

will notify the Trustee in writing of the name and address of any Agent not a party to this
Indenture. If the Company fails to appoint or maintain another entity as Registrar or Paying
Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying
Agent or Registrar.

     The Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary with
respect to the Global Notes.

     The Company initially appoints the Trustee to act as the Registrar and Paying Agent and to act
as Custodian with respect to the Global Notes.

Section 2.04 Paying Agent to Hold Money in Trust.

     The Company will require each Paying Agent other than the Trustee to agree in writing that the
Paying Agent will hold in trust for the benefit of Holders or the Trustee all money held by the
Paying Agent for the payment of principal of, premium on, if any, interest or Special Interest, if
any, on, the Notes, and will notify the Trustee of any default by the Company in making any such
payment. While any such default continues, the Trustee may require a Paying Agent to pay all money
held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money
held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the
Company or a Subsidiary) will have no further liability for the money. If the Company or a
Subsidiary acts as Paying Agent, it will segregate and hold in a separate trust fund for the
benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization
proceedings relating to the Company, the Trustee will serve as Paying Agent for the Notes.

Section 2.05 Holder Lists.

     The Trustee will preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of all Holders and shall otherwise comply with TIA
§312(a). If the Trustee is not the Registrar, the Company will furnish to the Trustee at least
seven Business Days before each interest payment date and at such other times as the Trustee may
request in writing, a list in such form and as of such date as the Trustee may reasonably require
of the names and addresses of the Holders of Notes and the Company shall otherwise comply with TIA
§312(a).

Section 2.06 Transfer and Exchange.

     (a) Transfer and Exchange of Global Notes. Except as otherwise set forth in this Section
2.06, a Global Note may not be transferred except as a whole by the Depositary to a nominee of the
Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the
Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such
successor Depositary. All Global Notes may be exchanged by the Company for Definitive Notes if:

     (1) the Company delivers to the Trustee notice from the Depositary that (a) the
Depositary is unwilling or unable to continue to act as Depositary for the Global Notes and
the Company fails to appoint a successor Depositary within 90 days of delivery of such
notice or (b) it has ceased to be a clearing agency registered under the Exchange Act and
the Company fails to appoint a successor depositary within 90 days of delivery of such
notice;

     (2) the Company in its sole discretion determines that the Global Notes (in whole
but not in part) should be exchanged for Definitive Notes and delivers a written notice to
such effect to the Trustee; provided that in no event shall the Regulation S Temporary
Global Note be exchanged by the Company for Definitive Notes prior to (A) the expiration of
the Restricted

47

 

Period and (B) the receipt by the Registrar of any certificates required pursuant to
Rule 903(b)(3)(ii)(B) under the Securities Act; or

     (3) there has occurred and is continuing a Default or Event of Default with respect
to the Notes and a Holder requests that its Global Note be exchanged for a Definitive Note.

     Definitive Notes delivered in exchange for any Global Note or beneficial interests in Global
Notes shall be registered in the names, and issued in any approved denominations, requested by or
on behalf of the Depositary (in accordance with its customary procedures) and will bear the
applicable restrictive legend referred to in Section 2.06(g), unless that legend is not required by
law. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections
2.07 and 2.10 hereof. Every Note authenticated and delivered in exchange for, or in lieu of, a
Global Note or any portion thereof, pursuant to this Section 2.06 or Section 2.07 or 2.10 hereof,
shall be authenticated and delivered in the form of, and shall be, a Global Note except for
Definitive Notes issued subsequent to any of the events in Section 2.06(a)(1), 2.06(a)(2) or
2.06(a)(3) hereof and pursuant to Section 2.06(c) hereof. A Global Note may not be exchanged for
another Note other than as provided in this Section 2.06(a); provided, however, beneficial
interests in a Global Note may be transferred and exchanged as provided in Section 2.06(b), (c) or
(f) hereof.

     (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and
exchange of beneficial interests in the Global Notes will be effected through the Depositary, in
accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial
interests in the Restricted Global Notes will be subject to restrictions on transfer comparable to
those set forth herein to the extent required by the Securities Act. Transfers of beneficial
interests in the Global Notes also will require compliance with either subparagraph (1), (2), (3)
or (4) below, as applicable, as well as one or more of the other following subparagraphs, as
applicable:

     (1) Transfer of Beneficial Interests in the Same Global Note. Beneficial interests
in any Restricted Global Note may be transferred to Persons who take delivery thereof in the
form of a beneficial interest in the same Restricted Global Note in accordance with the
transfer restrictions set forth in the Private Placement Legend; provided, however, that
prior to the expiration of the Restricted Period, transfers of beneficial interests in the
Regulation S Temporary Global Note may not be made to a U.S. Person or for the account or
benefit of a U.S. Person (other than an Initial Purchaser). Beneficial interests in any
Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form
of a beneficial interest in an Unrestricted Global Note. No written orders or instructions
shall be required to be delivered to the Registrar to effect the transfers set forth in this
Section 2.06(b)(1).

     (2) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In
connection with all transfers and exchanges of beneficial interests that are not subject to
Section 2.06(b)(1) above, the transferor of such beneficial interest must deliver to the
Registrar either:

     (A) both:

     (i) a written order from a Participant or an Indirect Participant
given to the Depositary in accordance with the Applicable Procedures
directing the Depositary to credit or cause to be credited a beneficial
interest in another Global Note in an amount equal to the beneficial
interest to be transferred or exchanged; and

48

 

     (ii) instructions given in accordance with the Applicable
Procedures containing information regarding the Participant account to be
credited with such increase; or

(B) both:

     (i) a written order from a Participant or an Indirect Participant
given to the Depositary in accordance with the Applicable Procedures
directing the Depositary to cause to be issued a Definitive Note in an
amount equal to the beneficial interest to be transferred or exchanged; and

     (ii) instructions given by the Depositary to the Registrar
containing information regarding the Person in whose name such Definitive
Note shall be registered to effect the transfer or exchange referred to in
(1) above;

provided that in no event shall Definitive Notes be issued upon the transfer
or exchange of beneficial interests in the Regulation S Temporary Global
Note prior to (A) the expiration of the Restricted Period and (B) the
receipt by the Registrar of any certificates required pursuant to Rule 903
under the Securities Act.

Upon consummation of an Exchange Offer by the Company in accordance with Section 2.06(f) hereof,
the requirements of this Section 2.06(b)(2) shall be deemed to have been satisfied upon receipt by
the Registrar of the instructions contained in the Letter of Transmittal delivered by the Holder of
such beneficial interests in the Restricted Global Notes or an Agent’s Message delivered through
the DTC Automated Tender Offer Program. Upon satisfaction of all of the requirements for transfer
or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or
otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the
relevant Global Note(s) pursuant to Section 2.06(h) hereof.

     (3) Transfer of Beneficial Interests to Another Restricted Global Note. A
beneficial interest in any Restricted Global Note may be transferred to a Person who takes
delivery thereof in the form of a beneficial interest in another Restricted Global Note if
the transfer complies with the requirements of Section 2.06(b)(2) hereof and the Registrar
receives the following:

     (A) if the transferee will take delivery in the form of a beneficial
interest in the 144A Global Note, then the transferor must deliver a certificate
substantially in the form of Exhibit B hereto, including the certifications in item
(1) thereof;

     (B) if the transferee will take delivery in the form of a beneficial
interest in the Regulation S Temporary Global Note or the Regulation S Permanent
Global Note, then the transferor must deliver a certificate substantially in the
form of Exhibit B hereto, including the certifications in item (2) thereof; and

     (C) if the transferee will take delivery in the form of a beneficial
interest in the IAI Global Note, then the transferor must deliver a certificate
substantially in the form of Exhibit B hereto, including the certifications,
certificates and Opinion of Counsel required by item (3) thereof, if applicable.

     (4) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for
Beneficial Interests in an Unrestricted Global Note. A beneficial interest in any
Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in
an Unrestricted

49

 

Global Note or transferred to a Person who takes delivery thereof in the form of a
beneficial interest in an Unrestricted Global Note if the exchange or transfer complies with
the requirements of Section 2.06(b)(2) hereof and:

     (A) such exchange or transfer is effected pursuant to the Exchange Offer in
accordance with the Registration Rights Agreement and the holder of the beneficial
interest to be transferred, in the case of an exchange, or the transferee, in the
case of a transfer, certifies in the applicable Letter of Transmittal or Agent’s
Message delivered through the DTC Automated Tender Offer Program that it is not (i)
a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange
Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company;

     (B) such transfer is effected pursuant to the Shelf Registration Statement
in accordance with the Registration Rights Agreement;

     (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange
Offer Registration Statement in accordance with the Registration Rights Agreement;
or

     (D) the Registrar receives the following:

     (i) if the holder of such beneficial interest in a Restricted
Global Note proposes to exchange such beneficial interest for a beneficial
interest in an Unrestricted Global Note, a certificate from such holder
substantially in the form of Exhibit C hereto, including the certifications
in item (1)(a) thereof; or

     (ii) if the holder of such beneficial interest in a Restricted
Global Note proposes to transfer such beneficial interest to a Person who
shall take delivery thereof in the form of a beneficial interest in an
Unrestricted Global Note, a certificate from such holder substantially in
the form of Exhibit B hereto, including the certifications in item (4)
thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in form
reasonably acceptable to the Registrar to the effect that such exchange or transfer
is in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order
to maintain compliance with the Securities Act.

     If any such transfer is effected pursuant to subparagraph (B) or (D) above at a time when an
Unrestricted Global Note has not yet been issued, the Company shall issue and, upon receipt of an
Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or
more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal
amount of beneficial interests transferred pursuant to subparagraph (B) or (D) above.

     Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to
Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global
Note.

     (c) Transfer or Exchange of Beneficial Interests for Definitive Notes.

     (1) Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes.
If any holder of a beneficial interest in a Restricted Global Note proposes to exchange
such

50

 

beneficial interest for a Restricted Definitive Note or to transfer such beneficial
interest to a Person who takes delivery thereof in the form of a Restricted Definitive Note,
then, upon the occurrence of any of the events in Section 2.06(a)(1), 2.06(a)(2) or
2.06(a)(3) hereof and receipt by the Registrar of the following documentation:

     (A) if the holder of such beneficial interest in a Restricted Global Note
proposes to exchange such beneficial interest for a Restricted Definitive Note, a
certificate from such holder substantially in the form of Exhibit C hereto,
including the certifications in item (2)(a) thereof;

     (B) if such beneficial interest is being transferred to a QIB in accordance
with Rule 144A, a certificate substantially in the form of Exhibit B hereto,
including the certifications in item (1) thereof;

     (C) if such beneficial interest is being transferred to a Non-U.S. Person
in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate
substantially in the form of Exhibit B hereto, including the certifications in item
(2) thereof;

     (D) if such beneficial interest is being transferred pursuant to an
exemption from the registration requirements of the Securities Act in accordance
with Rule 144, a certificate substantially in the form of Exhibit B hereto,
including the certifications in item (3)(a) thereof;

     (E) if such beneficial interest is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration requirements
of the Securities Act other than those listed in subparagraphs (B) through (D)
above, a certificate substantially in the form of Exhibit B hereto, including the
certifications, certificates and Opinion of Counsel required by item (3) thereof, if
applicable;

     (F) if such beneficial interest is being transferred to the Company or any
of its Subsidiaries, a certificate substantially in the form of Exhibit B hereto,
including the certifications in item (3)(b) thereof; or

     (G) if such beneficial interest is being transferred pursuant to an
effective registration statement under the Securities Act, a certificate
substantially in the form of Exhibit B hereto, including the certifications in item
(3)(c) thereof,

the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced
accordingly pursuant to Section 2.06(h) hereof, and the Company shall execute and the Trustee shall
authenticate and deliver to the Person designated in the instructions a Definitive Note in the
appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest in
a Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such name or names
and in such authorized denomination or denominations as the holder of such beneficial interest
shall instruct the Registrar through instructions from the Depositary and the Participant or
Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose
names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial
interest in a Restricted Global Note pursuant to this Section 2.06(c)(1) shall bear the Private
Placement Legend and shall be subject to all restrictions on transfer contained therein.

     (2) Beneficial Interests in Regulation S Temporary Global Note to Definitive Notes.
Notwithstanding Sections 2.06(c)(1)(A) and (C) hereof, a beneficial interest in the
Regulation S

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Temporary Global Note may not be exchanged for a Definitive Note or transferred to a
Person who takes delivery thereof in the form of a Definitive Note prior to (A) the
expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates
required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act, except in the case of a
transfer pursuant to an exemption from the registration requirements of the Securities Act
other than Rule 903 or Rule 904.

     (3) Beneficial Interests in Restricted Global Notes to Unrestricted Definitive
Notes. A holder of a beneficial interest in a Restricted Global Note may exchange such
beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial
interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive
Note only upon the occurrence of any of the events in Section 2.06(a)(1), 2.06(a)(2) or
2.06(a)(3) hereof and if:

     (A) such exchange or transfer is effected pursuant to the Exchange Offer in
accordance with the Registration Rights Agreement and the holder of such beneficial
interest, in the case of an exchange, or the transferee, in the case of a transfer,
certifies in the applicable Letter of Transmittal or Agent’s Message delivered
through the DTC Automated Tender Offer Program that it is not (i) a Broker-Dealer,
(ii) a Person participating in the distribution of the Exchange Notes or (iii) a
Person who is an affiliate (as defined in Rule 144) of the Company;

     (B) such transfer is effected pursuant to the Shelf Registration Statement
in accordance with the Registration Rights Agreement;

     (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange
Offer Registration Statement in accordance with the Registration Rights Agreement;
or

     (D) the Registrar receives the following:

     (i) if the holder of such beneficial interest in a Restricted
Global Note proposes to exchange such beneficial interest for an
Unrestricted Definitive Note, a certificate from such holder substantially
in the form of Exhibit C hereto, including the certifications in item (1)(b)
thereof; or

     (ii) if the holder of such beneficial interest in a Restricted
Global Note proposes to transfer such beneficial interest to a Person who
shall take delivery thereof in the form of an Unrestricted Definitive Note,
a certificate from such holder substantially in the form of Exhibit B
hereto, including the certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in form
reasonably acceptable to the Registrar to the effect that such exchange or transfer
is in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order
to maintain compliance with the Securities Act.

     (4) Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive
Notes. If any holder of a beneficial interest in an Unrestricted Global Note proposes to
exchange such beneficial interest for a Definitive Note or to transfer such beneficial
interest to a Person who takes delivery thereof in the form of a Definitive Note, then, upon
the occurrence of any of

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the events in Section 2.06(a)(1), 2.06(a)(2) or 2.06(a)(3) hereof and satisfaction of
the conditions set forth in Section 2.06(b)(2) hereof, the Trustee will cause the aggregate
principal amount of the applicable Global Note to be reduced accordingly pursuant to Section
2.06(h) hereof, and the Company will execute and the Trustee will authenticate and deliver
to the Person designated in the instructions a Definitive Note in the appropriate principal
amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this
Section 2.06(c)(4) will be registered in such name or names and in such authorized
denomination or denominations as the holder of such beneficial interest requests through
instructions to the Registrar from or through the Depositary and the Participant or Indirect
Participant. The Trustee will deliver such Definitive Notes to the Persons in whose names
such Notes are so registered. Any Definitive Note issued in exchange for a beneficial
interest pursuant to this Section 2.06(c)(4) will not bear the Private Placement Legend.

     (d) Transfer and Exchange of Definitive Notes for Beneficial Interests.

     (1) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes.
If any Holder of a Restricted Definitive Note proposes to exchange such Note for a
beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive
Notes to a Person who takes delivery thereof in the form of a beneficial interest in a
Restricted Global Note, then, upon receipt by the Registrar of the following documentation:

     (A) if the Holder of such Restricted Definitive Note proposes to exchange
such Note for a beneficial interest in a Restricted Global Note, a certificate from
such Holder substantially in the form of Exhibit C hereto, including the
certifications in item (2)(b) thereof;

     (B) if such Restricted Definitive Note is being transferred to a QIB in
accordance with Rule 144A, a certificate substantially in the form of Exhibit B
hereto, including the certifications in item (1) thereof;

     (C) if such Restricted Definitive Note is being transferred to a Non-U.S.
Person in an offshore transaction in accordance with Rule 903 or Rule 904, a
certificate substantially in the form of Exhibit B hereto, including the
certifications in item (2) thereof;

     (D) if such Restricted Definitive Note is being transferred pursuant to an
exemption from the registration requirements of the Securities Act in accordance
with Rule 144, a certificate substantially in the form of Exhibit B hereto,
including the certifications in item (3)(a) thereof;

     (E) if such Restricted Definitive Note is being transferred to an
Institutional Accredited Investor in reliance on an exemption from the registration
requirements of the Securities Act other than those listed in subparagraphs (B)
through (D) above, a certificate substantially in the form of Exhibit B hereto,
including the certifications, certificates and Opinion of Counsel required by item
(3) thereof, if applicable;

     (F) if such Restricted Definitive Note is being transferred to the Company
or any of its Restricted Subsidiaries, a certificate substantially in the form of
Exhibit B hereto, including the certifications in item (3)(b) thereof; or

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     (G) if such Restricted Definitive Note is being transferred pursuant to an
effective registration statement under the Securities Act, a certificate
substantially in the form of Exhibit B hereto, including the certifications in item
(3)(c) thereof,

the Trustee will cancel the Restricted Definitive Note, increase or cause to be
increased the aggregate principal amount of, in the case of clause (A) above, the
Restricted Global Note, in the case of clause (B) above, the 144A Global Note, in
the case of clause (C) above, the appropriate Regulation S Global Note, and in all
other cases, the IAI Global Note.

     (2) Restricted Definitive Notes to Beneficial Interests in Unrestricted Global
Notes. A Holder of a Restricted Definitive Note may exchange such Note for a beneficial
interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a
Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted
Global Note only if:

     (A) such exchange or transfer is effected pursuant to the Exchange Offer in
accordance with the Registration Rights Agreement and the Holder, in the case of an
exchange, or the transferee, in the case of a transfer, certifies in the applicable
Letter of Transmittal or Agent’s Message delivered through the DTC Automated Tender
Offer Program that it is not (i) a Broker-Dealer, (ii) a Person participating in the
distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined
in Rule 144) of the Company;

     (B) such transfer is effected pursuant to the Shelf Registration Statement
in accordance with the Registration Rights Agreement;

     (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange
Offer Registration Statement in accordance with the Registration Rights Agreement;
or

     (D) the Registrar receives the following:

     (i) if the Holder of such Definitive Notes proposes to exchange
such Notes for a beneficial interest in the Unrestricted Global Note, a
certificate from such Holder substantially in the form of Exhibit C hereto,
including the certifications in item (1)(c) thereof; or

     (ii) if the Holder of such Definitive Notes proposes to transfer
such Notes to a Person who shall take delivery thereof in the form of a
beneficial interest in the Unrestricted Global Note, a certificate from such
Holder substantially in the form of Exhibit B hereto, including the
certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in form
reasonably acceptable to the Registrar to the effect that such exchange or transfer
is in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order
to maintain compliance with the Securities Act.

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     Upon satisfaction of the conditions of any of the subparagraphs in this Section
2.06(d)(2), the Trustee will cancel the Definitive Notes and increase or cause to be
increased the aggregate principal amount of the Unrestricted Global Note.

     (3) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global
Notes. A Holder of an Unrestricted Definitive Note may exchange such Note for a beneficial
interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who
takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note
at any time. Upon receipt of a request for such an exchange or transfer, the Trustee will
cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the
aggregate principal amount of one of the Unrestricted Global Notes.

     If any such exchange or transfer from a Definitive Note to a beneficial interest is
effected pursuant to subparagraphs (2)(B), (2)(D) or (3) above at a time when an
Unrestricted Global Note has not yet been issued, the Company will issue and, upon receipt
of an Authentication Order in accordance with Section 2.02 hereof, the Trustee will
authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to
the principal amount of Definitive Notes so transferred.

     (e) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a
Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section
2.06(e), the Registrar will register the transfer or exchange of Definitive Notes. Prior to such
registration of transfer or exchange, the requesting Holder must present or surrender to the
Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in
form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized
in writing. In addition, the requesting Holder must provide any additional certifications,
documents and information, as applicable, required pursuant to the following provisions of this
Section 2.06(e).

     (1) Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted
Definitive Note may be transferred to and registered in the name of Persons who take
delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the
following:

     (A) if the transfer will be made pursuant to Rule 144A, then the transferor
must deliver a certificate substantially in the form of Exhibit B hereto, including
the certifications in item (1) thereof;

     (B) if the transfer will be made pursuant to Rule 903 or Rule 904, then the
transferor must deliver a certificate substantially in the form of Exhibit B hereto,
including the certifications in item (2) thereof; and

     (C) if the transfer will be made pursuant to any other exemption from the
registration requirements of the Securities Act, then the transferor must deliver a
certificate substantially in the form of Exhibit B hereto, including the
certifications, certificates and Opinion of Counsel required by item (3) thereof, if
applicable.

     (2) Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted
Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note
or transferred to a Person or Persons who take delivery thereof in the form of an
Unrestricted Definitive Note if:

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     (A) such exchange or transfer is effected pursuant to the Exchange Offer in
accordance with the Registration Rights Agreement and the Holder, in the case of an
exchange, or the transferee, in the case of a transfer, certifies in the applicable
Letter of Transmittal or Agent’s Message delivered through the DTC Automated Tender
Offer Program that it is not (i) a Broker-Dealer, (ii) a Person participating in the
distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined
in Rule 144) of the Company;

     (B) any such transfer is effected pursuant to the Shelf Registration
Statement in accordance with the Registration Rights Agreement;

     (C) any such transfer is effected by a Broker-Dealer pursuant to the
Exchange Offer Registration Statement in accordance with the Registration Rights
Agreement; or

     (D) the Registrar receives the following:

     (i) if the Holder of such Restricted Definitive Notes proposes to
exchange such Notes for an Unrestricted Definitive Note, a certificate from
such Holder substantially in the form of Exhibit C hereto, including the
certifications in item (1)(d) thereof; or

     (ii) if the Holder of such Restricted Definitive Notes proposes to
transfer such Notes to a Person who shall take delivery thereof in the form
of an Unrestricted Definitive Note, a certificate from such Holder
substantially in the form of Exhibit B hereto, including the certifications
in item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests, an Opinion of Counsel in form reasonably acceptable to the Registrar to
the effect that such exchange or transfer is in compliance with the Securities Act
and that the restrictions on transfer contained herein and in the Private Placement
Legend are no longer required in order to maintain compliance with the Securities
Act.

     (3) Unrestricted Definitive Notes to Unrestricted Definitive Notes. A Holder of
Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof
in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such
a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to the
instructions from the Holder thereof.

     (f) Exchange Offer. Upon the occurrence of the Exchange Offer in accordance with the
Registration Rights Agreement, the Company will issue and, upon receipt of an Authentication Order
in accordance with Section 2.02 hereof, the Trustee will authenticate:

     (1) one or more Unrestricted Global Notes in an aggregate principal amount equal to
the principal amount of the beneficial interests in the Restricted Global Notes accepted for
exchange in the Exchange Offer by Persons that certify in the applicable Letters of
Transmittal or through an Agent’s Message delivered through the DTC Automated Tender Offer
Program that (A) they are not Broker-Dealers, (B) they are not participating in a
distribution of the Exchange Notes and (C) they are not affiliates (as defined in Rule 144)
of the Company; and

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     (2) Unrestricted Definitive Notes in an aggregate principal amount equal to the
principal amount of the Restricted Definitive Notes accepted for exchange in the Exchange
Offer by Persons that certify in the applicable Letters of Transmittal that (A) they are not
Broker-Dealers, (B) they are not participating in a distribution of the Exchange Notes and
(C) they are not affiliates (as defined in Rule 144) of the Company.

     Concurrently with the issuance of such Notes, the Trustee will cause the aggregate principal
amount of the applicable Restricted Global Notes to be reduced accordingly, and the Company will
execute and the Trustee will authenticate and deliver to the Persons designated by the Holders of
Definitive Notes so accepted Unrestricted Definitive Notes in the appropriate principal amount.

     (g) Legends. The following legends will appear on the face of all Global Notes and
Definitive Notes issued under this Indenture unless specifically stated otherwise in the applicable
provisions of this Indenture.

     (1) Private Placement Legend.

     (A) Except as permitted by subparagraph (B) below, each Global Note and
each Definitive Note (and all Notes issued in exchange therefor or substitution
thereof) shall bear the legend in substantially the following form:

“THE NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933
(THE “SECURITIES ACT”) AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A)(1)
TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF
A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (2) IN AN
OFFSHORE TRANSACTION COMPLYING WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT,
(3) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144
THEREUNDER (IF AVAILABLE), (4) TO AN INSTITUTIONAL INVESTOR THAT IS AN ACCREDITED INVESTOR WITHIN
THE MEANING OF RULE 501 OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR (5) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND (B) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE
STATES OF THE UNITED STATES AND OTHER JURISDICTIONS.

     (B) Notwithstanding the foregoing, any Global Note or Definitive Note
issued pursuant to subparagraphs (b)(4), (c)(3), (c)(4), (d)(2), (d)(3), (e)(2),
(e)(3) or (f) of this Section 2.06 (and all Notes issued in exchange therefor or
substitution thereof) will not bear the Private Placement Legend.

     (2) Global Note Legend. Each Global Note will bear a legend in substantially the
following form:

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR
ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO
ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS
MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS

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GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE,
(3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF
THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR
WRITTEN CONSENT OF THE COMPANY.

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY
NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A
NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION
OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”

     (3) Regulation S Temporary Global Note Legend. The Regulation S Temporary Global
Note will bear a Legend in substantially the following form:

“THE RIGHTS ATTACHING TO THIS REGULATION S TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES
GOVERNING ITS EXCHANGE FOR CERTIFICATED NOTES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED
HEREIN).”

     (4) Original Issue Discount Legend. Each Note issued with original issue discount
will bear a legend in substantially the following form:

“FOR THE PURPOSES OF SECTIONS 1272, 1273 AND 1275 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED,
THIS SECURITY IS BEING ISSUED WITH ORIGINAL ISSUE DISCOUNT; FOR EACH $1,000 PRINCIPAL AMOUNT OF
THIS SECURITY, THE ISSUE PRICE IS $_____, THE AMOUNT OF ORIGINAL ISSUE DISCOUNT IS $_____, THE
ISSUE DATE IS ___________, 20__ AND THE YIELD TO MATURITY IS _____% PER ANNUM.”

     (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial
interests in a particular Global Note have been exchanged for Definitive Notes or a particular
Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global
Note will be returned to or retained and canceled by the Trustee in accordance with Section 2.11
hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is
exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial
interest in another Global Note or for Definitive Notes, the principal amount of Notes represented
by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note
by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and
if the beneficial interest is being exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Note, such other Global Note will be
increased accordingly and an endorsement will be made on such Global Note by the Trustee or by the
Depositary at the direction of the Trustee to reflect such increase.

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(i) General Provisions Relating to Transfers and Exchanges.

     (1) To permit registrations of transfers and exchanges, the Company will execute
and the Trustee will authenticate Global Notes and Definitive Notes upon receipt of an
Authentication Order in accordance with Section 2.02 hereof or at the Registrar’s request.

     (2) No service charge will be made to a Holder of a beneficial interest in a Global
Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but
the Company may require payment of a sum sufficient to cover any transfer tax or similar
governmental charge payable in connection therewith (other than any such transfer taxes or
similar governmental charge payable upon exchange or transfer pursuant to Sections 2.10,
3.06, 3.09, 4.10, 4.14 and 9.05 hereof).

     (3) The Registrar will not be required to register the transfer of or exchange of
any Note selected for redemption in whole or in part, except the unredeemed portion of any
Note being redeemed in part.

     (4) All Global Notes and Definitive Notes issued upon any registration of transfer
or exchange of Global Notes or Definitive Notes will be the valid obligations of the
Company, evidencing the same debt, and entitled to the same benefits under this Indenture,
as the Global Notes or Definitive Notes surrendered upon such registration of transfer or
exchange.

     (5) Neither the Registrar nor the Company will be required:

     (A) to issue, to register the transfer of or to exchange any Notes during a
period beginning at the opening of business 15 days before the day of any selection
of Notes for redemption under Section 3.02 hereof and ending at the close of
business on the day of selection;

     (B) to register the transfer of or to exchange any Note selected for
redemption in whole or in part, except the unredeemed portion of any Note being
redeemed in part; or

     (C) to register the transfer of or to exchange a Note between a record date
and the next succeeding interest payment date.

     (6) Prior to due presentment for the registration of a transfer of any Note, the
Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is
registered as the absolute owner of such Note for the purpose of receiving payment of
principal of and interest on such Notes and for all other purposes, and none of the Trustee,
any Agent or the Company shall be affected by notice to the contrary.

     (7) The Trustee will authenticate Global Notes and Definitive Notes in accordance
with the provisions of Section 2.02 hereof.

     (8) All certifications, certificates and Opinions of Counsel required to be
submitted to the Registrar pursuant to this Section 2.06 to effect a registration of
transfer or exchange may be submitted by facsimile.

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Section 2.07 Replacement Notes.

     If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives
evidence to its satisfaction of the destruction, loss or theft of any Note, the Company will issue
and the Trustee, upon receipt of an Authentication Order, will authenticate a replacement Note if
the Trustee’s requirements are met. If required by the Trustee or the Company, an indemnity bond
must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Company to
protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of
them may suffer if a Note is replaced. The Company may charge for its expenses in replacing a
Note.

     Every replacement Note is an additional obligation of the Company and will be entitled to all
of the benefits of this Indenture equally and proportionately with all other Notes duly issued
hereunder.

Section 2.08 Outstanding Notes.

     The Notes outstanding at any time are all the Notes authenticated by the Trustee except for
those canceled by it, those delivered to it for cancellation, those reductions in the interest in a
Global Note effected by the Trustee in accordance with the provisions hereof, and those set forth
in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 hereof, a Note does
not cease to be outstanding because the Company or an Affiliate of the Company holds the Note;
however, Notes held by the Company or a Subsidiary of the Company shall not be deemed to be
outstanding for purposes of Section 3.07(a) hereof.

     If a Note is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding unless the
Trustee receives proof satisfactory to it that the replaced Note is held by a protected purchaser.

     If the principal amount of any Note is considered paid under Section 4.01 hereof, it ceases to
be outstanding and interest on it ceases to accrue.

     If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof)
holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date,
then on and after that date such Notes will be deemed to be no longer outstanding and will cease to
accrue interest.

Section 2.09 Treasury Notes.

     In determining whether the Holders of the required principal amount of Notes have concurred in
any direction, waiver or consent, Notes owned by the Company or any Guarantor, or by any Person
directly or indirectly controlling or controlled by or under direct or indirect common control with
the Company or any Guarantor, will be considered as though not outstanding, except that for the
purposes of determining whether the Trustee will be protected in relying on any such direction,
waiver or consent, only Notes that the Trustee knows are so owned will be so disregarded.

Section 2.10 Temporary Notes.

     Until certificates representing Notes are ready for delivery, the Company may prepare and the
Trustee, upon receipt of an Authentication Order, will authenticate temporary Notes. Temporary
Notes will be substantially in the form of certificated Notes but may have variations that the
Company considers appropriate for temporary Notes and as may be reasonably acceptable to the
Trustee. Without unreasonable delay, the Company will prepare and the Trustee will authenticate
definitive Notes in exchange for temporary Notes.

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     Holders of temporary Notes will be entitled to all of the benefits of this Indenture.

Section 2.11 Cancellation.

     The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and
Paying Agent will forward to the Trustee any Notes surrendered to them for registration of
transfer, exchange or payment. The Trustee and no one else will cancel all Notes surrendered for
registration of transfer, exchange, payment, replacement or cancellation and will destroy canceled
Notes (subject to the record retention requirement of the Exchange Act). Certification of the
destruction of all canceled Notes will be delivered to the Company. The Company may not issue new
Notes to replace Notes that it has paid or that have been delivered to the Trustee for
cancellation.

Section 2.12 Defaulted Interest.

     If the Company defaults in a payment of interest on the Notes, it will pay the defaulted
interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted
interest, to the Persons who are Holders on a subsequent special record date, in each case at the
rate provided in the Notes and in Section 4.01 hereof. The Company will notify the Trustee in
writing of the amount of defaulted interest proposed to be paid on each Note and the date of the
proposed payment. The Company will fix or cause to be fixed each such special record date and
payment date; provided that no such special record date may be less than 10 days prior to the
related payment date for such defaulted interest. At least 15 days before the special record date,
the Company (or, upon the written request of the Company, the Trustee in the name and at the
expense of the Company) will mail or cause to be mailed to Holders a notice that states the special
record date, the related payment date and the amount of such interest to be paid.

ARTICLE 3

REDEMPTION AND PREPAYMENT

Section 3.01 Notices to Trustee.

     If the Company elects to redeem Notes pursuant to the optional redemption provisions of
Section 3.07 hereof, it must furnish to the Trustee, at least 15 days but not more than 60 days
before a redemption date, an Officers’ Certificate setting forth:

     (1) the clause of this Indenture pursuant to which the redemption shall occur;

     (2) the redemption date;

     (3) the principal amount of Notes to be redeemed; and

     (4) the redemption price.

Section 3.02 Selection of Notes to Be Redeemed or Purchased.

     If less than all of the Notes are to be redeemed or purchased in an offer to purchase at any
time, the Trustee will select Notes for redemption or purchase on a pro rata basis (or, in the case
of Global Notes, based on a method that most nearly approximates a pro rata selection as the
Trustee deems fair and appropriate) unless otherwise required by law or applicable stock exchange
or depositary requirements.

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     The Trustee shall promptly notify the Company in writing of the Notes selected for redemption
or purchase and, in the case of any Note selected for partial redemption or purchase, the principal
amount thereof to be redeemed or purchased. No Notes of $2,000 or less shall be redeemed in part.
Notes and portions of Notes selected will be in amounts of $2,000 or integral multiples of $1,000
in excess thereof; except that if all of the Notes of a Holder are to be redeemed or purchased, the
entire outstanding amount of Notes held by such Holder shall be redeemed or purchased. Except as
provided in the preceding sentence, provisions of this Indenture that apply to Notes called for
redemption or purchase also apply to portions of Notes called for redemption or purchase.

Section 3.03 Notice of Redemption.

     At least 15 days but not more than 60 days before a redemption date, the Company shall send
electronically or mail by first class mail or as otherwise provided in accordance with the
procedures of DTC, a notice of redemption to each Holder whose Notes are to be redeemed at its
registered address, except that redemption notices may be mailed more than 60 days prior to a
redemption date if the notice is issued in connection with a defeasance of the Notes or a
satisfaction and discharge of this Indenture pursuant to Articles 8 or 12 hereof.

     The notice will identify the Notes to be redeemed and shall state:

     (1) the redemption date;

     (2) the redemption price;

     (3) if any Note is being redeemed in part, the portion of the principal amount of
such Note to be redeemed and that, after the redemption date upon surrender of such Note, a
new Note or Notes in principal amount equal to the unredeemed portion will be issued in the
name of the holder thereof upon cancellation of the original Note;

     (4) the name and address of the Paying Agent;

     (5) that Notes called for redemption must be surrendered to the Paying Agent to
collect the redemption price;

     (6) that, unless the Company defaults in making such redemption payment, interest
on Notes called for redemption ceases to accrue on and after the redemption date;

     (7) the paragraph of the Notes and/or Section of this Indenture pursuant to which
the Notes called for redemption are being redeemed;

     (8) that no representation is made as to the correctness or accuracy of the CUSIP
or ISIN number, if any, listed in such notice or printed on the Notes; and

     (9) any condition to such redemption as permitted by the last sentence of
Section 3.04 hereof.

     At the Company’s request, the Trustee will give the notice of redemption in the Company’s
name and at its expense; provided, however, that the Company has delivered to the Trustee, at least
30 days (or such shorter time period as may be acceptable to the Trustee) prior to the redemption
date, an Officers’ Certificate requesting that the Trustee give such notice and setting forth the
information to be stated in such notice as provided in Section 3.03.

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Section 3.04 Effect of Notice of Redemption.

     Once notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for
redemption become due and payable on the redemption date at the redemption price. Interest, if
any, on Notes called for redemption ceases to accrue on and after the redemption date, unless the
Company defaults in making the applicable redemption payment. Notices of redemption may be given
prior to the completion thereof, and any redemption or notice may, at the Company’s discretion, be
subject to one or more conditions precedent, including, but not limited to, completion of the
Qualified Equity Offering.

Section 3.05 Deposit of Redemption or Purchase Price.

     Prior to 12:00 p.m. Eastern Time (or such later time as has been agreed to by Paying Agent or
the Trustee) on the redemption or purchase date, the Company will deposit with the Trustee or with
the Paying Agent money sufficient to pay the redemption or purchase price of and accrued interest
and Special Interest, if any, on all Notes to be redeemed or purchased on that date. The Trustee
or the Paying Agent will promptly return to the Company any money deposited with the Trustee or the
Paying Agent by the Company in excess of the amounts necessary to pay the redemption or purchase
price of and accrued interest and Special Interest, if any, on all Notes to be redeemed or
purchased.

     If the Company complies with the provisions of the preceding paragraph, on and after the
redemption or purchase date, interest will cease to accrue on the Notes or the portions of Notes
called for redemption or purchase. If a Note is redeemed or purchased on or after an interest
record date but on or prior to the related interest payment date, then any accrued and unpaid
interest shall be paid to the Person in whose name such Note was registered at the close of
business on such record date. If any Note called for redemption or purchase is not so paid upon
surrender for redemption or purchase because of the failure of the Company to comply with the
preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or
purchase date until such principal is paid, and to the extent lawful on any interest not paid on
such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01 hereof.

Section 3.06 Notes Redeemed or Purchased in Part.

     Upon surrender of a Note that is redeemed or purchased in part, the Company will issue and,
upon receipt of an Authentication Order, the Trustee will authenticate for the Holder at the
expense of the Company a new Note equal in principal amount to the unredeemed or unpurchased
portion of the Note surrendered. No Notes in denominations of $2,000 or less shall be redeemed in
part.

Section 3.07 Optional Redemption.

     (a) At any time prior to December 15, 2012, the Company may, on any one or more occasions,
redeem up to 35% of the aggregate principal amount of Notes issued under this Indenture (together
with any Additional Notes), upon not less than 15 nor more than 60 days’ notice, at a redemption
price equal to 109.5% of the principal amount of the Notes redeemed, plus accrued and unpaid
interest and Special Interest (if any) to the date of redemption (subject to the rights of Holders
of Notes on the relevant record date to receive interest on the relevant interest payment date),
with all or a portion of the net cash proceeds of one or more Qualified Equity Offerings; provided
that:

     (1) at least 65% of the aggregate principal amount of Notes issued under this
Indenture (including any Additional Notes) remains outstanding immediately after the
occurrence of such redemption (excluding Notes held by the Company and its Subsidiaries);
and

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     (2) the redemption must occur within 90 days of the date of the closing of such
Qualified Equity Offering.

     (b) At any time prior to December 15, 2012, the Company may, on any one or more occasions,
redeem all or a part of the Notes, upon not less than 15 nor more than 60 days’ notice, at a
redemption price equal to 100% of the principal amount of the Notes redeemed, plus the Applicable
Premium as of, and accrued and unpaid interest and Special Interest (if any) to the date of
redemption, subject to the rights of Holders on the relevant record date to receive interest due on
the relevant interest payment date.

     (c) Reserved.

     (d) Except pursuant to Sections 3.07(a) and 3.07(b), the Notes will not be redeemable at
the Company’s option prior to December 15, 2012.

     (e) On or after December 15, 2012, the Company may redeem all or a part of the Notes upon
not less than 15 nor more than 60 days’ notice, at the redemption prices (expressed as percentages
of principal amount) set forth below plus accrued and unpaid interest and Special Interest, if any,
on the Notes redeemed, to the applicable redemption date, if redeemed during the twelve-month
period beginning on December 15 of the years indicated below, subject to the rights of Holders on
the relevant record date to receive interest on the relevant interest payment date:

	 	 	 	 	 
	Year	 	Percentage	 
	2012
	 	 	107.125	%
	2013
	 	 	104.750	%
	2014
	 	 	102.375	%
	2015 and thereafter
	 	 	100.000	%

     Unless the Company defaults in the payment of the redemption price, interest will cease to
accrue on the Notes or portions thereof called for redemption on the applicable redemption date.

     (f) Any redemption pursuant to this Section 3.07 shall be made in accordance with the
provisions of Sections 3.01 through 3.06 hereof.

Section 3.08 Mandatory Redemption.

     The Company shall not be required to make mandatory redemption or sinking fund payments with
respect to the Notes.

Section 3.09 Offer to Purchase by Application of Excess Proceeds.

     In the event that, pursuant to Section 4.10 hereof, the Company is required to commence an
offer to all Holders to purchase Notes (an “Asset Sale Offer”), it will follow the procedures
specified below.

     The Asset Sale Offer shall be made to all Holders and all holders of other Priority Lien Debt
containing provisions similar to those set forth in this Indenture with respect to offers to
purchase, prepay or redeem with the proceeds of sales of assets. The Asset Sale Offer will remain
open for a period of at least 20 Business Days following its commencement and not more than 30
Business Days, except to the extent that a longer period is required by applicable law (the “Offer
Period”). No later than five Business Days after the termination of the Offer Period (the
“Purchase Date”), the Company will apply all Excess Proceeds (the “Offer Amount”) to the purchase
of Notes and such other Priority Lien Debt (on a pro rata

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basis based on the principal amount of Notes and such other Priority Lien Debt surrendered, if
applicable) or, if less than the Offer Amount has been tendered, all Notes and other Indebtedness
tendered in response to the Asset Sale Offer. Payment for any Notes so purchased will be made in
the same manner as interest payments are made.

     If the Purchase Date is on or after an interest record date and on or before the related
interest payment date, any accrued and unpaid interest and Special Interest, if any, will be paid
to the Person in whose name a Note is registered at the close of business on such record date, and
no additional interest will be payable to Holders who tender Notes pursuant to the Asset Sale
Offer.

     Upon the commencement of an Asset Sale Offer, the Company will send electronically or mail by
first class mail or as otherwise provided in accordance with the procedures of DTC, a notice to the
Trustee and each of the Holders, with a copy to the Trustee. The notice will contain all
instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset
Sale Offer. The notice, which will govern the terms of the Asset Sale Offer, will state:

     (1) that the Asset Sale Offer is being made pursuant to this Section 3.09 and
Section 4.10 hereof and the length of time the Asset Sale Offer will remain open;

     (2) the Offer Amount, the purchase price and the Purchase Date;

     (3) that any Note not tendered or accepted for payment will continue to accrue
interest;

     (4) that, unless the Company defaults in making such payment, any Note accepted for
payment pursuant to the Asset Sale Offer will cease to accrue interest after the Purchase
Date;

     (5) that Holders electing to have a Note purchased pursuant to an Asset Sale Offer
may elect to have Notes purchased in denominations of $2,000 or an integral multiple of
$1,000 in excess thereof;

     (6) that Holders electing to have Notes purchased pursuant to any Asset Sale Offer
will be required to surrender the Note, with the form entitled “Option of Holder to Elect
Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the
Company, a Depositary, if appointed by the Company, or a Paying Agent at the address
specified in the notice at least three days before the Purchase Date;

     (7) that Holders will be entitled to withdraw their election if the Company, the
Depositary or the Paying Agent, as the case may be, receives, not later than the expiration
of the Offer Period, a facsimile transmission or letter setting forth the name of the
Holder, the principal amount of the Note the Holder delivered for purchase and a statement
that such Holder is withdrawing his election to have such Note purchased;

     (8) that, if the aggregate principal amount of Notes and other Priority Lien Debt
surrendered by holders thereof exceeds the Offer Amount, the Company will select the Notes
and other Priority Lien Debt to be purchased on a pro rata basis based on the principal
amount of Notes and such other Priority Lien Debt surrendered (with such adjustments as may
be deemed appropriate by the Company so that only Notes in denominations of $2,000, or an
integral multiple of $1,000 in excess thereof, will be purchased); and

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     (9) that Holders whose Notes were purchased only in part will be issued new Notes
equal in principal amount to the unpurchased portion of the Notes surrendered (or
transferred by book-entry transfer).

     On or before the Purchase Date, the Company will, to the extent lawful, accept for payment, on
a pro rata basis to the extent necessary, the Offer Amount of Notes or portions thereof tendered
pursuant to the Asset Sale Offer, or if less than the Offer Amount has been tendered, all Notes
tendered, and will deliver or cause to be delivered to the Trustee the Notes properly accepted
together with an Officers’ Certificate stating that such Notes or portions thereof were accepted
for payment by the Company in accordance with the terms of this Section 3.09. The Company, the
Depositary or the Paying Agent, as the case may be, will, not later than three Business Days after
the Purchase Date, mail or deliver to each tendering Holder an amount equal to the purchase price
of the Notes tendered by such Holder and accepted by the Company for purchase, and the Company will
promptly issue a new Note, and the Trustee, upon written request from the Company, will
authenticate and mail or deliver (or cause to be transferred by book entry) such new Note to such
Holder, in a principal amount equal to any unpurchased portion of the Note surrendered; provided
that such Note shall be in a principal amount of $2,000 or an integral multiple of $1,000 in excess
thereof. Any Note not so accepted shall be promptly mailed or delivered by the Company to the
Holder thereof. The Company will publicly announce the results of the Asset Sale Offer on or as
soon as practicable after the Purchase Date.

     Other than as specifically provided in this Section 3.09, any purchase pursuant to this
Section 3.09 shall be made in accordance with the provisions of Sections 3.01 through 3.06 hereof.

ARTICLE 4

COVENANTS

Section 4.01 Payment of Notes.

     The Company will pay or cause to be paid all principal, interest, premium and Special
Interest, if any, on the Notes on the dates and in the manner provided in the Notes. Principal,
premium, if any, interest and Special Interest, if any, will be considered paid on the date due if
the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of 12:00 p.m. Eastern
Time on the due date money deposited by the Company in immediately available funds and designated
for and sufficient to pay all principal, premium, if any, and interest, if any, then due. The
Company will pay all Special Interest, if any, in the same manner on the dates and in the amounts
set forth in the Registration Rights Agreement.

     The Company will pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal at the then applicable interest rate on the Notes to the
extent lawful; it will pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue installments of interest and Special Interest, if any (without regard to
any applicable grace period), at the same rate to the extent lawful.

Section 4.02 Maintenance of Office or Agency.

     The Company will maintain in the Borough of Manhattan, the City of New York, an office or
agency (which may be an office of the Trustee or an affiliate of the Trustee, Registrar or
co-registrar) where Notes may be surrendered for registration of transfer or for exchange and where
notices and demands to or upon the Company in respect of the Notes and this Indenture may be
served. The Company will give prompt written notice to the Trustee of the location, and any change
in the location, of such office or agency. If at any time the Company fails to maintain any such
required office or agency or

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fails to furnish the Trustee with the address thereof, such presentations, surrenders, notices
and demands may be made or served at the Corporate Trust Office of the Trustee.

     The Company may also from time to time designate one or more other offices or agencies where
the Notes may be presented or surrendered for any or all such purposes and may from time to time
rescind such designations; provided, however, that no such designation or rescission will in any
manner relieve the Company of its obligation to maintain an office or agency in the Borough of
Manhattan, the City of New York for such purposes. The Company will give prompt written notice to
the Trustee of any such designation or rescission and of any change in the location of any such
other office or agency.

     The Company hereby designates the Corporate Trust Office of the Trustee as one such office or
agency of the Company in accordance with Section 2.03 hereof.

Section 4.03 Reports.

     (a) Whether or not the Company is subject to the reporting requirements of Section 13 or
15(d) of the Exchange Act, so long as any Notes are outstanding, the Company will furnish to the
Holders of Notes or cause the Trustee to furnish to the Holders of Notes or post on its website or
file with the SEC for public availability:

     (1) all quarterly and annual reports that would be required to be filed with the
SEC on Forms 10-Q and 10-K if the Company were required to file such reports, including a
“Management’s Discussion and Analysis of Financial Condition and Results of Operations” and,
with respect to the annual information only, a report (whether or not unqualified) thereon
by the Company’s certified independent accountants, which reports shall be filed (a) in the
case of quarterly reports, within 15 days after the time period specified in the SEC’s rules
and regulations and (b) in the case of annual reports, within 30 days after the time period
specified in the SEC’s rules and regulations; and

     (2) as soon as practicable, and in any event five days after the time periods
specified in the SEC’s rules and regulations, all current reports that would be required to
be filed with the SEC on Form 8-K if the Company were required to file such reports;

provided, however, that if the last day of any such time period is not a Business Day, such report
will be due on the next succeeding Business Day.

     (b) All such reports will be prepared in all material respects in accordance with all of
the rules and regulations applicable to such reports, except that such reports will not be required
to contain separate financial information for Subsidiary Guarantors or Subsidiaries whose
securities are pledged to secure the Notes that would be required under Rule 3-10 or Rule 3-16 of
Regulation S-X promulgated by the SEC, except to the extent required by the rules and regulations
of the SEC actually applicable to the Company at such time.

     (c) If, at any time after consummation of the Exchange Offer contemplated by the
Registration Rights Agreement, the Company is no longer subject to the periodic reporting
requirements of the Exchange Act for any reason, the Company will nevertheless continue filing the
reports specified in the preceding paragraphs of this Section 4.03 with the SEC within the time
periods specified above unless the SEC will not accept such a filing. The Company will not take
any action for the purpose of causing the SEC not to accept any such filings. If, notwithstanding
the foregoing, the SEC will not accept the Company’s filings for any reason, the Company will post
the reports referred to in this Section 4.03 on its website within the time periods specified
above.

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     (d) If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries,
then the quarterly and annual financial information required by Section 4.03(a) hereof will include
a reasonably detailed presentation, either on the face of the financial statements or in the
footnotes thereto, and in Management’s Discussion and Analysis of Financial Condition and Results
of Operations, of the financial condition and results of operations of the Company and its
Restricted Subsidiaries separate from the financial condition and results of operations of the
Unrestricted Subsidiaries of the Company.

     (e) In the event that (1) the rules and regulations of the SEC permit the Company and
Parent, or any other direct or indirect parent of the Company, to report at such parent entity’s
level on a consolidated basis and (2) such parent entity of the Company is not engaged in any
business in any material respect other than incidental to its ownership, directly or indirectly, of
the Capital Stock of the Company, the information and reports required by this Section 4.03 may be
those of such parent company on a consolidated basis.

     (f) Notwithstanding the foregoing, prior to completion of the Exchange Offer or
effectiveness of the Shelf Registration Statement contemplated by the Registration Rights
Agreement, the requirements above will be deemed satisfied (1) by the filing with the SEC of the
Exchange Offer Registration Statement or Shelf Registration Statement and any amendments thereto,
within the time periods set forth above, with such financial information that satisfies Regulation
S-X of the Securities Act or (2) by posting reports that would be required to be filed
substantially in the form required by the SEC on the Company’s website (or the website of Parent or
other direct or indirect parent of the Company) or providing such reports to the Trustee, subject
to exceptions consistent with the presentation of financial information in the Offering Circular.

     (g) In addition, the Company and the Guarantors agree that, for so long as any Notes
remain outstanding, if at any time they are not required to file with the SEC the reports required
by Sections 4.03(a) and (b) hereof, they will furnish to the Holders and to securities analysts and
prospective investors, upon their request, the information required to be delivered pursuant to
Rule 144A(d)(4) under the Securities Act.

     (h) Notwithstanding anything herein to the contrary, the Company will not be deemed to
have failed to comply with any of its agreements set forth in this Section 4.03 for purposes of
Section 6.01(4) until 90 days after the date any report required to be provided by this Section
4.03 is due.

Section 4.04 Compliance Certificate.

     (a) The Company and each Guarantor (to the extent that such Guarantor is so required under
the TIA) shall deliver to the Trustee, within 120 days after the end of each fiscal year, an
Officers’ Certificate stating that a review of the activities of the Company and its Subsidiaries
during the preceding fiscal year has been made under the supervision of the signing Officer with a
view to determining whether the Company has kept, observed, performed and fulfilled its obligations
under this Indenture, and further stating, as to each such Officer signing such certificate, that
to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each
and every covenant contained in this Indenture and is not in default in the performance or
observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or
Event of Default has occurred, describing all such Defaults or Events of Default of which he or she
may have knowledge and what action the Company is taking or proposes to take with respect thereto).

     (b) So long as any of the Notes are outstanding, the Company will deliver to the Trustee,
within 30 days of any Officer becoming aware of any Default or Event of Default, an Officers’
Certificate specifying such Default or Event of Default, unless such Default or Event of Default
has been cured

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before the end of the 30 day period, and what action the Company is taking or proposes to take
with respect thereto.

Section 4.05 Taxes.

     The Company will pay or discharge, and will cause each of its Restricted Subsidiaries to pay
or discharge, prior to delinquency, all material taxes, assessments, and governmental levies except
such as are contested in good faith and by appropriate negotiations or proceedings or where the
failure to effect such payment is not adverse in any material respect to the Holders of the Notes.

Section 4.06 Stay, Extension and Usury Laws.

     The Company and each of the Guarantors covenants (to the extent that it may lawfully do so)
that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the
benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time
hereafter in force, that may affect the covenants or the performance of this Indenture; and the
Company and each of the Guarantors (to the extent that it may lawfully do so) hereby expressly
waives all benefit or advantage of any such law, and covenants that it will not, by resort to any
such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but
will suffer and permit the execution of every such power as though no such law has been enacted.

Section 4.07 Restricted Payments.

     (a) The Company will not, and will not permit any of its Restricted Subsidiaries to,
directly or indirectly:

     (1) declare or pay any dividend or make any other payment or distribution on
account of the Company’s or any of its Restricted Subsidiaries’ Equity Interests (including,
without limitation, any payment in connection with any merger or consolidation involving the
Company or any of its Restricted Subsidiaries) or to the direct or indirect holders of the
Company’s or any of its Restricted Subsidiaries’ Equity Interests in their capacity as such
(other than dividends, payments or distributions (A) payable in Equity Interests (other than
Disqualified Stock) of the Company or to the Company or a Restricted Subsidiary of the
Company or (B) payable by a Restricted Subsidiary so long as, in the case of any dividend,
payment or distribution payable on or in respect of any class or series of securities issued
by a Restricted Subsidiary other than a Wholly Owned Restricted Subsidiary, the Company or a
Restricted Subsidiary receives at least its pro rata share of such dividend or distribution
in accordance with its Equity Interests in such class or series of securities);

     (2) purchase, redeem or otherwise acquire or retire for value (including, without
limitation, in connection with any merger or consolidation involving the Company) any Equity
Interests of the Company or any Restricted Subsidiary of the Company held by Persons other
than the Company or any Restricted Subsidiary of the Company;

     (3) make any payment on or with respect to, or purchase, redeem, defease or
otherwise acquire or retire for value any, Subordinated Lien Debt or any Indebtedness of the
Company or any Subsidiary Guarantor that is unsecured or contractually subordinated to the
Notes or to any Note Guarantee (excluding any intercompany Indebtedness between or among the
Company and any of its Restricted Subsidiaries), except payments of (x) interest, (y)
principal at the Stated Maturity thereof (or the satisfaction of a sinking fund obligation)
or (z) principal and

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accrued interest, due within one year of the date of such payment, purchase,
redemption, defeasance, acquisition or retirement; or

     (4) make any Restricted Investment

(all such restricted payments and other restricted actions set forth in clauses (1) through
(4) above (other than any exceptions thereto) being collectively referred to as “Restricted
Payments”), unless, at the time of and after giving effect to such Restricted Payment:

     (1) no Default or Event of Default shall have occurred and be continuing or would
occur as a consequence thereof;

     (2) the Company would, at the time of such Restricted Payment and after giving pro
forma effect thereto as if such Restricted Payment had been made at the beginning of the
applicable four-quarter period, have been permitted to incur at least $1.00 of additional
Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.09(a)
hereof; and

     (3) such Restricted Payment, together with the aggregate amount of all other
Restricted Payments made by the Company and its Restricted Subsidiaries after the date of
this Indenture permitted by the provisions set forth in clauses (1), (6), (7), (9), (10),
(12), (18) and (19) of Section 4.07(b), is less than the sum, without duplication, of:

     (A) 50% of the Consolidated Net Income of the Company for the period (taken
as one accounting period) from the first day of the first fiscal quarter beginning
after the date of this Indenture to the end of the Company’s most recently ended
fiscal quarter for which internal financial statements are available at the time of
such Restricted Payment (or, if such Consolidated Net Income for such period is a
deficit, less 100% of such deficit), plus

     (B) 100% of the aggregate net cash proceeds and the Fair Market Value of
assets other than cash received by the Company since the date of this Indenture as
a contribution to its equity capital or from the issue or sale of Equity Interests
of the Company or from the issue or sale of Equity Interests of any direct or
indirect parent of the Company to the extent such net cash proceeds are actually
contributed to the Company as equity (other than Excluded Contributions, Refunding
Capital Stock, Disqualified Stock and Designated Preferred Stock) or from the issue
or sale of convertible or exchangeable Disqualified Stock or convertible or
exchangeable debt securities of the Company that have been converted into or
exchanged for such Equity Interests (other than Equity Interests (or Disqualified
Stock or debt securities) sold to a Restricted Subsidiary of the Company), plus

     (C) the net cash proceeds and the Fair Market Value of assets other than
cash received by the Company or any Restricted Subsidiary of the Company from (i)
the disposition, sale, liquidation, retirement or redemption of all or any portion
of any Restricted Investment made after the date of this Indenture, net of
disposition costs and repurchases and redemptions of such Restricted Investments
from the Company or its Restricted Subsidiaries and repayments of loans or advances,
and releases of guarantees which constitute Restricted Investments by the Company or
its Restricted Subsidiaries, and (ii) the sale (other than to the Company or a
Restricted Subsidiary of the Company) of the Capital Stock of an Unrestricted
Subsidiary, plus

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     (D) without duplication, (i) to the extent that any Unrestricted Subsidiary
of the Company that was designated as such after the date of this Indenture is
redesignated as a Restricted Subsidiary, the Fair Market Value of the Company’s
direct or indirect Investment in such Subsidiary as of the date of such
redesignation, plus (ii) an amount equal to the net reduction in Investments in
Unrestricted Subsidiaries resulting from payments of dividends, repayments of the
principal of loans or advances or other transfers of assets from Unrestricted
Subsidiaries of the Company to the Company or any Restricted Subsidiary of the
Company after the date of this Indenture, except, in each case, to the extent that
any such Investment or net reduction in Investment is included in the calculation of
Consolidated Net Income, plus

     (E) without duplication, in the event the Company or any Restricted
Subsidiary of the Company makes any Investment in a Person that, as a result of or
in connection with such Investment, becomes a Restricted Subsidiary of the Company,
an amount equal to the Fair Market Value of the existing Investment in such Person
that was previously treated as a Restricted Payment.

     (b) The provisions of Section 4.07(a) hereof will not prohibit:

     (1) the payment of any dividend or distribution or the consummation of any
redemption within 60 days after the date of declaration thereof or the giving of a
redemption notice related thereto, as the case may be, if at said date of declaration or
notice such payment would have complied with the provisions of this Indenture;

(2) (A) the making of any Restricted Payment in exchange for, or out of the
proceeds of the substantially concurrent sale of, Equity Interests of the Company or
any direct or indirect parent of the Company (other than any Disqualified Stock or
any Equity Interests sold to a Restricted Subsidiary of the Company or to an
employee stock ownership plan or any trust established by the Company) or from
substantially concurrent contributions to the equity capital of the Company
(collectively, including any such contributions, “Refunding Capital Stock”);
provided, that for the purposes hereof, Restricted Payments will be deemed to be
made substantially concurrent with any such sale or contributions if the Restricted
Payment occurs within 45 days of such sale or contribution; and

     (B) the declaration and payment of accrued dividends on any Equity
Interests redeemed, repurchased, retired, defeased or acquired out of the proceeds
of the sale of Refunding Capital Stock within 45 days of such sale;

provided that the amount of any such proceeds or contributions that are utilized for
any Restricted Payment pursuant to this clause (2) shall be excluded from the amount
set forth in clause (3)(B) of Section 4.07(a) hereof and clause (4) of this Section
4.07(b) and shall not constitute Excluded Contributions;

     (3) the payment, defeasance, redemption, repurchase, retirement or other
acquisition of (a) Indebtedness of the Company or any Subsidiary Guarantor that is
contractually subordinated to the Notes or to any Note Guarantee or (b) any Subordinated
Lien Debt or (c) any Indebtedness of the Company or any Subsidiary Guarantor that is
unsecured or (d) Disqualified Stock of the Company or any Restricted Subsidiary thereof, in
each such case of (a) through (d), in exchange for, or out of the net cash proceeds from, an
incurrence of Permitted Refinancing Indebtedness;

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     (4) Restricted Investments acquired (a) as a capital contribution to, or out of the
net cash proceeds of substantially concurrent contributions to, the equity capital of the
Company or (b) from the net cash proceeds of the substantially concurrent sale (other than
to a Restricted Subsidiary of the Company or to an employee stock ownership plan or any
trust established by the Company) of, or in exchange for Equity Interests of the Company
(other than Disqualified Stock); provided, that for the purposes hereof, Restricted
Investments will be deemed to be acquired substantially concurrent with such contribution or
the sale of any such Equity Interests if the acquisition occurs within 45 days of such
contribution or sale; provided further, that the amount of any such net cash proceeds that
are utilized for any such acquisition and the Fair Market Value of any assets so acquired or
exchanged shall be excluded from the amount set forth in clause (3)(B) of Section 4.07(a)
hereof and clause (2) of this Section 4.07(b) and shall not constitute Excluded
Contributions;

     (5) the repurchase of Equity Interests deemed to occur (i) upon the exercise of
options or warrants if such Equity Interests represent all or a portion of the exercise
price thereof and (ii) in connection with the withholding of a portion of the Equity
Interests granted or awarded to a director or an employee to pay for the taxes payable by
such director or employee upon such grant or award;

     (6) the payment of dividends on the Company’s common stock (or the payment of
dividends to Parent or any other direct or indirect parent of the Company to fund the
payment of dividends on its common stock) following any public offering of common stock of
the Company or Parent or any other direct or indirect parent of the Company, in an aggregate
amount of up to 6.0% per annum of the net proceeds received by the Company (or by Parent or
any other direct or indirect parent of the Company and contributed to the Company) from such
public offering; provided, however that the aggregate amount of all such dividends pursuant
to this clause (6) since the date of this Indenture shall not exceed the aggregate amount of
net proceeds received by the Company (or by a direct or indirect parent of the Company and
contributed to the Company) from such public offering;

     (7) the purchase, redemption, retirement or other acquisition for value of any
Equity Interests of the Company, Parent or any other direct or indirect parent of the
Company held by any current, future or former director, officer, consultant or employee of
the Company, Parent or any other direct or indirect parent of the Company or any Restricted
Subsidiary of the Company, or their estates or the beneficiaries of such estates (including
the payment of dividends and distributions to Parent to enable Parent to repurchase Equity
Interests owned by Parent’s parent at the same time as Parent’s parent repurchases Equity
Interests from their directors, officers, consultants and employees), in an amount not to
exceed $10.0 million in any calendar year prior to a Qualified Equity Offering (and $15.0
million in any calendar year following a Qualified Equity Offering); provided that the
Company may carry over and make in subsequent calendar years, in addition to the amounts
permitted for such calendar year, the amount of purchases, redemptions, acquisitions or
retirements for value permitted to have been but not made in any preceding calendar year up
to a maximum of $20.0 million in any calendar year prior to a Qualified Equity Offering (and
$25.0 million in any calendar year following a Qualified Equity Offering), provided,
further, that such amounts will be increased by (a) the cash proceeds from the sale after
the date of this Indenture of Equity Interests of the Company or, to the extent contributed
to the Company, Equity Interests of Parent or any other direct or indirect parent of the
Company, in each case to directors, officers, consultants or employees of the Company,
Parent or any other direct or indirect parent of the Company or any Restricted Subsidiary of
the Company after the date of this Indenture, plus (b) the cash proceeds of key man life
insurance policies received by the Company, its Restricted Subsidiaries, Parent or any other
direct or indirect parent

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of the Company and contributed to the Company after the date of this Indenture, in the
case of each of clauses (a) and (b), to the extent such net cash proceeds are not otherwise
applied to make or otherwise increase the amounts available for Restricted Payments pursuant
to clause 3(b) of the preceding paragraph (A) or clauses (2), (4) or (16) of this paragraph
(B);

     (8) the distribution, as a dividend or otherwise, of Equity Interests of, or
Indebtedness owed to the Company or a Restricted Subsidiary thereof by, any Unrestricted
Subsidiary;

     (9) upon the occurrence of a Change of Control (or similarly defined term in other
Indebtedness) and within 90 days after completion of the offer to repurchase Notes and other
Priority Lien Obligations pursuant to Section 4.14 hereof (including the purchase of all
Notes tendered), any repayment, repurchase, redemption, defeasance or other acquisition or
retirement for value of any Subordinated Lien Debt or any Indebtedness of the Company or any
Subsidiary Guarantor that is unsecured or contractually subordinated to the Notes or to any
Note Guarantee that is required to be repurchased or redeemed pursuant to the terms thereof
as a result of such Change of Control (or similarly defined term in other Indebtedness), at
a purchase price not greater than 101% of the outstanding principal amount or liquidation
preference thereof (plus accrued and unpaid interest and liquidated damages, if any);

     (10) within 90 days after completion of any offer to repurchase Notes or other
Priority Lien Obligations pursuant to Section 4.10 hereof (including the purchase of all
Notes tendered), any repayment, repurchase, redemption, defeasance or other acquisition or
retirement for value of any Subordinated Lien Debt or any Indebtedness of the Company or any
Subsidiary Guarantor that is unsecured or contractually subordinated to the Notes or to any
Note Guarantee that is required to be repurchased or redeemed pursuant to the terms thereof
as a result of such Asset Sale (or similarly defined term in such other Indebtedness), at a
purchase price not greater than 100% of the outstanding principal amount or liquidation
preference thereof (plus accrued and unpaid interest and liquidated damages, if any);

     (11) payments or distributions, in the nature of satisfaction of dissenters’
rights, pursuant to or in connection with a consolidation, merger or transfer of assets that
complies with the provisions of this Indenture applicable to mergers, consolidations and
transfers of all or substantially all the property and assets of the Company;

     (12) the payment of cash in lieu of the issuance of fractional shares of Equity
Interests upon exercise or conversion of securities exercisable or convertible into Equity
Interests of the Company;

     (13) the declaration and payment of dividends or distributions by the Company or
any Restricted Subsidiary to, or the making of loans to, Parent or any other direct or
indirect parent of the Company in amounts sufficient for Parent or any other direct or
indirect parent of the Company to pay, in each case without duplication:

     (A) franchise and excise taxes and other fees, taxes and expenses, in each
case to the extent required to maintain their corporate existence, any taxes
required to be withheld and paid by Parent or any other direct or indirect parent of
the Company, and tax distributions pursuant to the limited liability company
agreement of PVF Holdings LLC;

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     (B) federal, state, local and non-U.S. income taxes, to the extent such
income taxes are attributable to the income of the Company and its Restricted
Subsidiaries and, to the extent of the amount actually received from its
Unrestricted Subsidiaries, in amounts required to pay taxes attributable to the
income of such Unrestricted Subsidiaries, determined as if the Company and such
Subsidiaries filed a separate consolidated, combined, unitary or affiliated tax
return as a stand-alone group;

     (C) (1) customary salary, bonus and other benefits payable to officers and
employees of Parent or any other direct or indirect parent of the Company to the
extent such salaries, bonuses and other benefits are attributable to the ownership
or operation of the Company and its Restricted Subsidiaries and (2) any reasonable
and customary indemnification claims made by directors or officers of the Company,
Parent or any other direct or indirect parent of the Company;

     (D) general corporate administrative, operating and overhead costs and
expenses of Parent or any other direct or indirect parent of the Company to the
extent such costs and expenses are attributable to the ownership or operation of the
Company and its Restricted Subsidiaries; and

     (E) fees and expenses related to any equity or debt offering of Parent or
such other parent entity (whether or not successful);

     (14) dividends or distributions from the Company to Parent on the date of this
Indenture in order to repay the Junior Term Loan Facility in connection with the Refinancing
Transactions;

     (15) Investments in Unrestricted Subsidiaries or joint ventures which, taken
together with all other Restricted Payments made pursuant to the provision set forth in this
clause (15), do not exceed the greater of $30.0 million and 1.0% of the Company’s
Consolidated Total Assets;

     (16) Restricted Payments in an aggregate amount not to exceed the amount of all
Excluded Contributions;

     (17) the declaration and payment of dividends or distributions to holders of any
class or series of Disqualified Stock of the Company or any of its Restricted Subsidiaries
and preferred stock of any Restricted Subsidiary issued or incurred in accordance with
Section 4.09 hereof;

     (18) the declaration and payment of dividends or distributions:

     (A) to holders of any class or series of Designated Preferred Stock (other
than Disqualified Stock) of the Company issued after the date of this Indenture;

     (B) to Parent or any other direct or indirect parent of the Company, the
proceeds of which will be used to fund the payment of dividends to holders of any
class or series of Designated Preferred Stock (other than Disqualified Stock) of
Parent or any other direct or indirect parent of the Company issued after the date
of this Indenture; provided, however, that the aggregate amount of dividends
declared and paid pursuant to this clause (18)(B) does not exceed the net cash
proceeds (other than net cash proceeds constituting Excluded Contributions) actually
received by the Company from any such sale of Designated Preferred Stock; and

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     (C) on Refunding Capital Stock that is preferred stock in excess of the
dividends declarable and payable thereon pursuant to clause (2) of this Section
4.07(b);

provided, however, in the case of each of (A), (B) and (C) of this clause (18), that
for the most recently ended four full fiscal quarters for which internal financial
statements are available immediately preceding the date of issuance of such
Designated Preferred Stock or the declaration of such dividends on Refunding Capital
Stock that is preferred stock, after giving effect to such issuance or declaration
on a pro forma basis, the Company would have had a Fixed Charge Coverage Ratio of at
least 2.00 to 1.00;

     (19) other Restricted Payments in an amount which, taken together with all other
Restricted Payments made pursuant to the provision set forth in this clause (19), do not
exceed the greater of $50.0 million and 1.75% of the Company’s Consolidated Total Assets; or

     (20) payments, dividends or distributions in an amount equal to the net cash
proceeds of any disposition, sale, liquidation, retirement or redemption of Non-Core Assets
for the purposes of complying with the requirements of that certain Agreement and Plan of
Merger, dated as of December 4, 2006, among the Company, Parent and Hg Acquisition Corp., as
amended through the date of this Indenture;

provided that, in the case of clauses (4), (7) through (11) and (16) above, no Default or
Event of Default has occurred and is continuing or would occur as a consequence thereof.

     (c) The amount of all Restricted Payments (other than cash) shall be the Fair Market Value
on the date of the Restricted Payment of the asset(s) or securities proposed to be transferred or
issued to or by the Company or such Restricted Subsidiary, as the case may be, pursuant to the
Restricted Payment. In determining whether any Restricted Payment is permitted by this Section
4.07, the Company and its Restricted Subsidiaries may allocate all or any portion of such
Restricted Payment among the categories set forth in clauses (1) through (20) of Section 4.07(b) or
among such categories and the types of Restricted Payments set forth in Section 4.07(a) (including
categorization as a Permitted Investment); provided that, at the time of such allocation, all such
Restricted Payments, or allocated portions thereof, would be permitted under the various provisions
of this Section 4.07 and provided further that the Company and its Restricted Subsidiaries may
reclassify all or a portion of such Restricted Payment or Permitted Investment in any manner that
complies with this Section 4.07, and following such reclassification such Restricted Payment or
Permitted Investment shall be treated as having been made pursuant to only one of such clauses of
this Section 4.07.

Section 4.08 Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries.

     (a) The Company will not, and will not permit any of its Restricted Subsidiaries to,
directly or indirectly, create or permit to exist or become effective any consensual encumbrance or
consensual restriction on the ability of any Restricted Subsidiary to:

     (1) pay dividends or make any other distributions on its Capital Stock (or with
respect to any other interest or participation in, or measured by, its profits) to the
Company or any of its Restricted Subsidiaries or pay any Indebtedness owed to the Company or
any of its Restricted Subsidiaries;

     (2) make loans or advances to the Company or any of its Restricted Subsidiaries; or

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     (3) transfer any of its properties or assets to the Company or any of its
Restricted Subsidiaries.

     (b) The restrictions in section 4.08(a) hereof will not apply to encumbrances or
restrictions:

     (1) existing under, by reason of or with respect to the ABL Credit Facility,
Existing Indebtedness, or any other agreements in effect on the date of this Indenture and
any amendments, modifications, restatements, renewals, extensions, increases, supplements,
refundings, replacements or refinancings thereof; provided that the encumbrances and
restrictions in any such amendments, modifications, restatements, renewals, extensions,
increases, supplements, refundings, replacements or refinancings are not materially more
restrictive, taken as a whole, than those in effect on the date of this Indenture;

     (2) existing under, by reason of or with respect to any other Credit Facility of
the Company permitted under this Indenture; provided that the applicable encumbrances and
restrictions contained in the agreement or agreements governing the other Credit Facility
are not materially more restrictive, taken as a whole, than those contained in the ABL
Credit Facility (with respect to other credit agreements) or this Indenture (with respect to
other indentures), in each case as in effect on the date of this Indenture;

     (3) existing under, by reason of or with respect to applicable law, rule,
regulation or administrative or court order;

     (4) with respect to any Person or the property or assets of a Person acquired by
the Company or any of its Restricted Subsidiaries existing at the time of such acquisition
and not incurred in connection with or in contemplation of such acquisition, which
encumbrance or restriction is not applicable to any Person or the properties or assets of
any Person, other than the Person, or the property or assets of the Person, so acquired and
any amendments, modifications, restatements, renewals, extensions, increases, supplements,
refundings, replacements or refinancings thereof; provided that the encumbrances and
restrictions in any such amendments, modifications, restatements, renewals, extensions,
increases, supplements, refundings, replacement or refinancings are entered into in the
ordinary course of business or not materially more restrictive, taken as a whole, than those
contained in the ABL Credit Facility, this Indenture, Existing Indebtedness or such other
agreements as in effect on the date of the acquisition;

     (5) in the case of the provision set forth in clause (3) of Section 4.08(a) hereof:

     (A) that restrict in a customary manner the subletting, assignment or
transfer of any property or asset that is a lease, license, conveyance or contract
or similar property or asset,

     (B) existing by virtue of any transfer of, agreement to transfer, option or
right with respect to, or Lien on, any property or assets of the Company or any
Restricted Subsidiary thereof not otherwise prohibited by this Indenture,

     (C) existing under, by reason of or with respect to (i) purchase money
obligations for property acquired in the ordinary course of business or (ii) capital
leases or operating leases that impose encumbrances or restrictions on the property
so acquired or covered thereby, or

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     (D) arising or agreed to in the ordinary course of business, not relating
to any Indebtedness, and that do not, individually or in the aggregate, detract from
the value of property or assets of the Company or any Restricted Subsidiary thereof
in any manner material to the Company or any Restricted Subsidiary thereof;

     (6) existing under, by reason of or with respect to customary provisions in joint
venture, operating or similar agreements, asset sale agreements and stock sale agreements
arising in connection with the entering into of such transactions;

     (7) existing under, by reason of or with respect to any agreement for the sale or
other disposition of some or all of the Capital Stock of, or any property and assets of, a
Restricted Subsidiary that restricted distributions by that Restricted Subsidiary pending
the closing of such sale or other disposition;

     (8) existing under, by reason of or with respect to Permitted Refinancing
Indebtedness; provided that the encumbrances and restrictions contained in the agreements
governing that Permitted Refinancing Indebtedness are not materially more restrictive, taken
as a whole, than those contained in the agreements governing the Indebtedness being
refinanced;

     (9) restricting cash or other deposits or net worth imposed by customers under
contracts entered into in the ordinary course of business;

     (10) existing under, by reason of or with respect to customary provisions contained
in leases or licenses of intellectual property and other agreements, in each case, entered
into in the ordinary course of business;

     (11) existing under, by reason of or with respect to this Indenture, the Notes (and
the Exchange Notes), the Note Guarantees and the Security Documents; and

     (12) existing under, by reason of or with respect to Indebtedness of a Restricted
Subsidiary not prohibited to be incurred under this Indenture; provided that (a) such
encumbrances or restrictions are ordinary and customary in light of the type of Indebtedness
being incurred and the jurisdiction of the obligor and (b) such encumbrances or restrictions
will not affect in any material respect the Company’s or any Subsidiary Guarantor’s ability
to make principal and interest payments on the Notes, as determined in good faith by the
Company.

     For purposes of determining compliance with this Section 4.08, (a) the priority of any
preferred stock in receiving dividends or liquidating distributions prior to distributions being
paid on common stock shall not be deemed a restriction on the ability to make distributions on
Capital Stock and (b) the subordination of loans or advances made to the Company or a Restricted
Subsidiary of the Company to other Indebtedness incurred by the Company or any such Restricted
Subsidiary shall not be deemed a restriction on the ability to make loans or advances.

Section 4.09 Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock.

     (a) The Company will not, and will not permit any of its Restricted Subsidiaries to,
directly or indirectly, incur any Indebtedness (including Acquired Debt) or issue any shares of
Disqualified Stock, and the Company will not permit any of its Restricted Subsidiaries to issue any
preferred stock (other than in each case Disqualified Stock or preferred stock of Restricted
Subsidiaries held by the Company or a Restricted Subsidiary, so long as so held); provided,
however, that (i) the Company or any Restricted Subsidiary may incur Indebtedness (including
Acquired Debt) and issue Disqualified Stock and (ii) any

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Restricted Subsidiary may issue preferred stock, if the Fixed Charge Coverage Ratio for the
Company’s most recently ended four full fiscal quarters for which internal financial statements are
available immediately preceding the date on which such additional Indebtedness is incurred or
Disqualified Stock or preferred stock is issued would have been at least 2.0 to 1, determined on a
pro forma basis (including a pro forma application of the net proceeds therefrom), as if the
additional Indebtedness had been incurred or the Disqualified Stock or preferred stock had been
issued, as the case may be, and the application of proceeds therefrom had occurred, at the
beginning of such four-quarter period; provided further, that the amount of Indebtedness (excluding
Acquired Debt not incurred in connection with or in contemplation of the applicable merger,
acquisition or other similar transaction), Disqualified Stock and preferred stock that may be
incurred or issued, as applicable, by Restricted Subsidiaries that are not Guarantors, pursuant to
the foregoing, shall not exceed $60.0 million at any one time outstanding.

     (b) The provisions of Section 4.09(a) hereof will not prohibit the incurrence or issuance
of any of the following (collectively, “Permitted Debt”):

     (1) Indebtedness incurred by the Company or any Subsidiary Guarantor under Credit
Facilities (and the incurrence by the Subsidiary Guarantors of Guarantees thereof) in an
aggregate principal amount at any one time outstanding under the provision set forth in this
clause (1) (with letters of credit being deemed to have a principal amount equal to the
maximum potential liability of the Company and its Restricted Subsidiaries thereunder) not
to exceed (as of any date of incurrence of Indebtedness under the provision set forth in
this clause (1) and after giving pro forma effect to such incurrence and the application of
the net proceeds therefrom) the greater of (a) $1.25 billion and (b) the amount of the
Borrowing Base as of the date of such incurrence;

     (2) Indebtedness incurred by the Company and the Subsidiary Guarantors represented
by the Notes and the Note Guarantees issued on the date of this Indenture and the Exchange
Notes and related exchange guarantees to be issued in exchange for the Notes and the Note
Guarantees pursuant to the Registration Rights Agreement (other than any Additional Notes,
but including Exchange Notes and related exchange guarantees to be issued in exchange for
Additional Notes otherwise permitted to be incurred hereunder pursuant to a registration
rights agreement);

     (3) Existing Indebtedness;

     (4) Indebtedness of the Company or any of its Restricted Subsidiaries (including
without limitation Capital Lease Obligations, mortgage financings or purchase money
obligations), Disqualified Stock issued by the Company or any Restricted Subsidiary and
preferred stock issued by any Restricted Subsidiary, in each case incurred for the purpose
of financing all or any part of the purchase price or cost of design, construction,
installation, repair or improvement of property (real or personal), plant or equipment or
other fixed or capital assets used in the business of the Company or such Restricted
Subsidiary or in a Permitted Business (whether through the direct purchase of assets or the
Capital Stock of any Person owning such assets (but no other material assets)), in an
aggregate principal amount at any time outstanding, including all Permitted Refinancing
Indebtedness incurred to refund, refinance or replace any Indebtedness incurred pursuant to
the provision set forth in this clause (4), not to exceed as of any date of incurrence the
greater of (a) 1.0% of the Company’s Consolidated Total Assets and (b) $30.0 million;

     (5) Permitted Refinancing Indebtedness incurred by the Company or any of its
Restricted Subsidiaries in exchange for, or the net proceeds of which are used to refund,
refinance or replace, Indebtedness (other than intercompany Indebtedness) that was permitted
by this

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Indenture to be incurred or Disqualified Stock or preferred stock permitted to be
issued under Section 4.09(a) hereof or clauses (2), (3), (4), (5), (8), (9), (10), (15),
(16) or (17) of this Section 4.09(b);

     (6) intercompany Indebtedness incurred by the Company or any of its Restricted
Subsidiaries and owing to and held by the Company or any of its Restricted Subsidiaries;
provided, however, that:

     (A) if the Company or any Subsidiary Guarantor is the obligor on such
Indebtedness, such Indebtedness must be unsecured and expressly subordinated to the
prior payment in full in cash of all Obligations with respect to the Notes, in the
case of the Company, or the Note Guarantee, in the case of a Subsidiary Guarantor;
and

     (B) (i) any subsequent issuance or transfer of Equity Interests that
results in any such Indebtedness being held by a Person other than the Company or a
Restricted Subsidiary thereof and (ii) any sale or other transfer of any such
Indebtedness to a Person that is not either the Company or a Restricted Subsidiary
thereof, shall be deemed, in each case, to constitute an incurrence of such
Indebtedness by the Company or such Restricted Subsidiary, as the case may be, that
was not permitted by the provisions set forth in this clause (6);

     (7) (A) the Guarantee by the Company or any of the Subsidiary Guarantors of
Indebtedness of the Company or a Restricted Subsidiary of the Company that was permitted to
be incurred by another provision of this Section 4.09, (B) the Guarantee by any Foreign
Subsidiary of Indebtedness of another Foreign Subsidiary of the Company that was permitted
to be incurred by another provision of this Section 4.09 or (C) any Guarantee by a
Restricted Subsidiary of Indebtedness of the Company (so long as such Restricted Subsidiary
also guarantees the Notes if required pursuant to Section 4.17 hereof);

     (8) (x) Indebtedness, Disqualified Stock or preferred stock of the Company or any
of its Restricted Subsidiaries incurred to finance an acquisition or (y) Acquired Debt;
provided that, in either case, after giving effect to the transactions that result in the
incurrence or issuance thereof, on a pro forma basis, either (A) the Company would be
permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge
Coverage Ratio test set forth in the first paragraph of this Section 4.09 or (B) the Fixed
Charge Coverage Ratio for the Company would not be less than immediately prior to such
transactions;

     (9) preferred stock of a Restricted Subsidiary of the Company issued to the Company
or another Restricted Subsidiary of the Company; provided that (a) any subsequent issuance
or transfer of Equity Interests that results in any such preferred stock being held by a
Person other than the Company or a Restricted Subsidiary thereof and (b) any sale or other
transfer of any such preferred stock to a Person that is not either the Company or a
Restricted Subsidiary thereof will be deemed, in each case, to constitute an issuance of
such preferred stock that was not permitted by the provision set forth in this clause (9);

     (10) additional Indebtedness of the Company or any of its Restricted Subsidiaries
incurred in an aggregate principal amount at any time outstanding, including all Permitted
Refinancing Indebtedness incurred to refund, refinance or replace any Indebtedness incurred
pursuant to the provision set forth in this clause (10), not to exceed as of any date of
incurrence the greater of 4.0% of the Company’s Consolidated Total Assets and $125.0
million;

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     (11) Indebtedness incurred by the Company or any Restricted Subsidiary to the
extent that the net proceeds thereof are promptly deposited to defease or to satisfy and
discharge the Notes;

     (12) Indebtedness of the Company or any Restricted Subsidiary consisting of
obligations to pay insurance premiums or take-or-pay obligations contained in supply
arrangements incurred in the ordinary course of business;

     (13) Indebtedness in respect of any bankers’ acceptance, bank guarantees, letter of
credit, warehouse receipt or similar facilities, and reinvestment obligations related
thereto, entered into in the ordinary course of business;

     (14) Guarantees (A) incurred in the ordinary course of business in respect of
obligations of (or to) suppliers, customers, franchisees, lessors and licensees that, in
each case, are non-Affiliates or (B) otherwise constituting Investments permitted under this
Indenture;

     (15) (A) Indebtedness of Foreign Subsidiaries outstanding on the date of this
Indenture and (B) additional Indebtedness of Foreign Subsidiaries incurred in an aggregate
principal amount at any time outstanding, including all Permitted Refinancing Indebtedness
incurred to refund, refinance or replace any Indebtedness incurred pursuant to the provision
set forth in this clause (15)(B), not to exceed as of any date of incurrence the greater of
4.0% of the Company’s Consolidated Total Assets and $125.0 million;

     (16) Indebtedness issued by the Company or any of its Restricted Subsidiaries to
any current, future or former director, officer, consultant or employee of the Company, the
direct or indirect parent of the Company or any Restricted Subsidiary of the Company (or any
of their Affiliates), or their estates or the beneficiaries of such estates to finance the
purchase, redemption, acquisition or retirement for value of Equity Interests permitted by
clause (2) of Section 4.07(b) in an aggregate principal amount at any time outstanding,
including all Permitted Refinancing Indebtedness incurred to refund, refinance or replace
any Indebtedness incurred pursuant to the provision set forth in this clause (16), not to
exceed $5.0 million as of any date of incurrence;

     (17) Contribution Indebtedness;

(18) (A) Indebtedness incurred in connection with any permitted Sale and
Leaseback Transaction and (b) any refinancing, refunding, renewal or extension of
any Indebtedness specified in subclause (a) above, provided that, except to the
extent otherwise permitted hereunder, the principal amount of any such Indebtedness
is not increased above the principal amount thereof outstanding immediately prior to
such refinancing, refunding, renewal or extension and the direct and contingent
obligors with respect to such Indebtedness are not changed;

     (B) Indebtedness in respect of overdraft facilities, employee credit card
programs and other cash management arrangements in the ordinary course of business;
and

     (C) Indebtedness representing deferred compensation to employees of the
Company (or any direct or indirect parent thereof) and its Restricted Subsidiaries
incurred in the ordinary course of business; and

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     (19) cash management obligations and other Indebtedness in respect of netting
services, automatic clearinghouse arrangements, overdraft protections and similar
arrangements in each case in connection with deposit accounts.

     For purposes of determining compliance with this Section 4.09, in the event that any proposed
Indebtedness or preferred stock meets the criteria of more than one of the categories of Permitted
Debt set forth in clauses (1) through (19) above, or is entitled to be incurred or issued pursuant
to the first paragraph of this Section 4.09, the Company, in its sole discretion, will be permitted
to divide and classify at the time of its incurrence or issuance, and may from time to time divide
or reclassify, all or a portion of such item of Indebtedness or Disqualified Stock or preferred
stock such that it will be deemed to have been incurred pursuant to another of such clauses or
Section 4.09(a) to the extent that such reclassified Indebtedness could be incurred pursuant to
such new clause or Section 4.09(a) at the time of such reclassification (including in part pursuant
to one or more clauses and/or in part pursuant to Section 4.09(a)), provided, however, that
Indebtedness under the ABL Credit Facility outstanding on the date of this Indenture will be deemed
to have been incurred on that date in reliance on the exception provided by clause (1) of the
definition of Permitted Debt.

     For the purpose of determining compliance with any U.S. dollar-denominated restriction on the
incurrence of Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated
in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on
the date such Indebtedness was incurred or first committed (in the case of revolving credit debt);
provided that if such Indebtedness denominated in a foreign currency is incurred to refinance other
Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable
U.S. dollar denominated restriction to be exceeded if calculated at the relevant currency exchange
rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be
deemed not to have been exceeded so long as the principal amount of such Permitted Refinancing
Indebtedness does not exceed the principal amount of such Indebtedness being refinanced, plus the
amount of any reasonable premium (including reasonable tender premiums), defeasance costs and any
reasonable fees and expenses incurred in connection with the issuance of such new Indebtedness.
The principal amount of any Indebtedness incurred to refinance other Indebtedness, if incurred in a
different currency from the Indebtedness being refinanced, shall be calculated based on the
currency exchange rate applicable to the currencies in which such respective Indebtedness is
denominated that is in effect on the date of such refinancing.

     (c) Notwithstanding any other provision of this Section 4.09, the maximum amount of
Indebtedness that may be incurred pursuant to this Section 4.09 will not be deemed to be exceeded,
with respect to any outstanding Indebtedness, due solely to the result of fluctuations in the
exchange rates of currencies. In addition, for purposes of determining any particular amount of
Indebtedness, any Guarantees, Liens or obligations with respect to letters of credit, in each case,
supporting Indebtedness otherwise included in the determination of such particular amount, will not
be included.

Section 4.10 Asset Sales.

     (a) The Company will not, and will not permit any of its Restricted Subsidiaries to,
consummate an Asset Sale unless:

     (1) the Company (or the Restricted Subsidiary, as the case may be) receives
consideration at the time of such Asset Sale at least equal to the Fair Market Value of the
assets or Equity Interests issued or sold or otherwise disposed of;

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     (2) with respect to Asset Sales involving aggregate consideration in excess of
$25.0 million, such Fair Market Value is determined in good faith by the Board of Directors
of the Company or Parent; and

     (3) at least 75% of the consideration therefor received by the Company or such
Restricted Subsidiary is in the form of cash, Cash Equivalents or Replacement Assets or a
combination of cash, Cash Equivalents or Replacement Assets; provided that, for purposes of
this provision, each of the following shall be deemed to be cash:

     (A) any liabilities (as shown on the Company’s or such Restricted
Subsidiary’s most recent balance sheet or in the footnotes thereto), of the Company
or any Restricted Subsidiary (other than contingent liabilities, Indebtedness that
is by its terms contractually subordinated in right of payment to the Notes or any
Note Guarantee and liabilities to the extent owed to the Company or any Restricted
Subsidiary of the Company) that are assumed by the transferee of any such assets or
Equity Interests pursuant to an agreement that releases the Company or such
Restricted Subsidiary, as the case may be, from further liability;

     (B) any securities, notes or other obligations received by the Company or
any such Restricted Subsidiary, as the case may be, from such transferee that are
converted by the Company or such Restricted Subsidiary into cash or Cash Equivalents
within 180 days (to the extent of the cash or Cash Equivalents received in that
conversion); and

     (C) any Designated Non-Cash Consideration received by the Company or any
Restricted Subsidiary in such Asset Sale having an aggregate Fair Market Value,
taken together with all other Designated Non-Cash Consideration received pursuant to
this clause (C) that is at the time outstanding, not to exceed the greater of (x)
$75.0 million and (y) 2.5% of the Company’s Consolidated Total Assets at the time of
the receipt of such Designated Non-Cash Consideration, with the Fair Market Value of
each item of Designated Non-Cash Consideration being measured at the time received
and without giving effect to subsequent changes in value.

     (b) Within 365 days after the receipt of any Net Proceeds from an Asset Sale other than
(1) a Sale of Notes Priority Collateral or (2) a Sale of a Subsidiary Guarantor, the Company or
such Restricted Subsidiary may apply such Net Proceeds at its option and to the extent it so
elects:

     (1) to repay, repurchase or redeem Priority Lien Obligations (including Priority
Lien Obligations under the Notes) or ABL Debt Obligations;

     (2) to repay any Indebtedness secured by a Permitted Prior Lien;

     (3) to repay Indebtedness and other obligations of a Restricted Subsidiary that is
not a Guarantor, other than Indebtedness owed to the Company or another Restricted
Subsidiary;

     (4) to repay other Indebtedness of the Company or any Subsidiary Guarantor (other
than any Disqualified Stock or any Indebtedness that is contractually subordinated in right
of payment to the Notes), other than Indebtedness owed to Parent, the Company or a
Restricted Subsidiary of the Company; provided that the Company shall equally and ratably
redeem or repurchase the Notes as set forth in Section 3.07 hereof through open market
purchases (to the extent such purchases are at or above 100% of the principal amount
thereof) or by making an offer (in accordance with the procedures set forth below for an
Asset Sale Offer) to all Holders to

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purchase the Notes at 100% of the principal amount thereof, plus the amount of accrued
but unpaid interest, if any, on the amount of Notes that would otherwise be prepaid;

     (5) to acquire all or substantially all of the assets of, or any Capital Stock of,
another Permitted Business, if, after giving effect to any such acquisition of Capital
Stock, the Permitted Business is or becomes a Restricted Subsidiary of the Company;

     (6) to make an Investment in Replacement Assets or make a capital expenditure in or
that is used or useful in a Permitted Business; or

     (7) any combination of the foregoing;

provided that the Company will be deemed to have complied with the provisions set forth in clauses
(5) and (6) of this Section 4.10(b) if and to the extent that, within 365 days after the Asset Sale
that generated the Net Proceeds, the Company has entered into and not abandoned or rejected a
binding agreement to acquire the assets or Capital Stock of a Permitted Business, make an
Investment in Replacement Assets or make a capital expenditure in compliance with the provision set
forth in clauses (5) and (6) of this Section 4.10(b), and that acquisition, purchase or capital
expenditure is thereafter completed within 180 days after the end of such 365-day period. Pending
the final application of any such Net Proceeds, the Company may temporarily reduce revolving credit
borrowings or otherwise invest such Net Proceeds in any manner that is not prohibited by this
Indenture.

     (c) Within 365 days after the receipt of any Net Proceeds from an Asset Sale that
constitutes (i) a Sale of Notes Priority Collateral or (ii) a Sale of a Subsidiary Guarantor, the
Company (or the applicable Restricted Subsidiary, as the case may be) may apply an amount equal to
such Net Proceeds:

     (1) to make an Investment in other assets or property that would constitute Notes
Priority Collateral;

     (2) to make an Investment in Capital Stock of another Permitted Business if, after
giving effect to such Investment, the Permitted Business becomes a Subsidiary Guarantor or
is merged into or consolidated with the Company or any Subsidiary Guarantor;

     (3) to make a capital expenditure with respect to assets that constitute Notes
Priority Collateral;

     (4) to repay Indebtedness secured by a Permitted Prior Lien on any Notes Priority
Collateral that was sold in such Asset Sale;

     (5) to repay, repurchase or redeem Priority Lien Obligations (including Priority
Lien Obligations under the Notes); provided that the Company shall equally and ratably
redeem or repurchase the Notes as set forth in Section 3.07 hereof through open market
purchases (to the extent such purchases are at or above 100% of the principal amount
thereof) or by making an offer (in accordance with the procedures set forth below for an
Asset Sale Offer) to all Holders to purchase the Notes at 100% of the principal amount
thereof, plus the amount of accrued but unpaid interest, if any, on the amount of Notes that
would otherwise be prepaid; or

     (6) any combination of the foregoing;

provided that the Company will be deemed to have complied with the provision set forth in clauses
(1), (2) and (3) of this Section 4.10(c) if, and to the extent that, within 365 days after the
Asset Sale that

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generated the Net Proceeds, the Company has entered into and not abandoned or rejected a binding
agreement to make an Investment in assets or property that would constitute Notes Priority
Collateral or make an Investment in Capital Stock of another Permitted Business or to make a
capital expenditure with respect to assets that constitute Notes Priority Collateral in compliance
with the provisions set forth in clauses (1), (2) and (3) of this Section 4.10(c), and that
purchase or capital expenditure is thereafter completed within 180 days after the end of such
365-day period.

     (d) Any Net Proceeds from Asset Sales that are not applied or invested as set forth in
Section 4.10(b) or Section 4.10(c) will constitute “Excess Proceeds.” Within 10 Business Days after
the aggregate amount of Excess Proceeds exceeds $35.0 million, the Company will make an Asset Sale
Offer to all Holders of Notes and all holders of other Priority Lien Debt pursuant to the
provisions of Section 3.09 of this Indenture, to purchase the maximum principal amount of Notes and
such other Priority Lien Debt that may be purchased out of the Excess Proceeds. The offer price for
the Notes and any other Priority Lien Debt in any Asset Sale Offer will be equal to 100% of the
principal amount of the Notes and such other Priority Lien Debt purchased, plus accrued and unpaid
interest and Special Interest (if any) on the Notes and any other Priority Lien Debt to the date of
purchase, and will be payable in cash. If any Excess Proceeds remain after consummation of an Asset
Sale Offer, the Company may use such Excess Proceeds for any purpose not otherwise prohibited by
this Indenture. If the aggregate principal amount of Notes and such other Priority Lien Debt
tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Notes and such other
Priority Lien Debt shall be purchased on a pro rata basis based on the principal amount of Notes
and such other Priority Lien Debt tendered. Upon completion of each Asset Sale Offer, the amount of
Excess Proceeds shall be reset at zero. The Company may satisfy the foregoing obligation with
respect to any Net Proceeds prior to the expiration of the relevant 365 day period (as such period
may be extended in accordance with this Indenture) or with respect to Excess Proceeds of $35.0
million or less.

     (e) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and
any other securities laws and regulations thereunder to the extent such laws and regulations are
applicable in connection with each repurchase of Notes pursuant to an Asset Sale Offer. To the
extent that the provisions of any securities laws or regulations conflict with provisions of
Section 3.09 hereof or this Section 4.10, the Company will comply with the applicable securities
laws and regulations and will not be deemed to have breached its obligations under Section 3.09
hereof or this Section 4.10 by virtue of such compliance.

Section 4.11 Transactions with Affiliates.

     (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, make
any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets
to, or purchase any property or assets from, or enter into, make, amend, renew or extend any
transaction, contract, agreement, understanding, loan, advance or Guarantee with, or for the
benefit of, any Affiliate involving aggregate consideration in excess of $3.5 million (each, an
“Affiliate Transaction”), unless:

     (1) such Affiliate Transaction is on fair and reasonable terms not materially less
favorable to the Company or the relevant Restricted Subsidiary than it would obtain in a
hypothetical comparable arm’s-length transaction by the Company or such Restricted
Subsidiary with a Person that was not an Affiliate of the Company; and

     (2) the Company delivers to the Trustee with respect to any Affiliate Transaction
or series of related Affiliate Transactions involving aggregate consideration in excess of
$25.0 million, a resolution of the Board of Directors of Parent set forth in an Officers’
Certificate certifying that such Affiliate Transaction or series of related Affiliate
Transactions complies with

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this Section 4.11 and that such Affiliate Transaction or series of related Affiliate
Transactions has been approved by a majority of the disinterested members of Parent’s Board
of Directors.

     (b) The following items will not be deemed to be Affiliate Transactions and, therefore,
will not be subject to the provisions of Section 4.11(a) hereof:

     (1) transactions between or among the Company and/or its Restricted Subsidiaries;

     (2) payment of reasonable fees and compensation to, and indemnification and similar
arrangements on behalf of, current, former or future directors of Parent, any other direct
or indirect parent of the Company, the Company or any Restricted Subsidiary of the Company;

     (3) Restricted Payments that are permitted by Section 4.07 hereof and the
definition of Permitted Investments (including any payments that are excluded from the
definitions of Restricted Payment and Restricted Investment);

     (4) any sale of Equity Interests (other than Disqualified Stock) of the Company;

     (5) loans and advances to officers and employees of Parent, any other direct or
indirect parent of the Company, the Company or any of the Company’s Restricted Subsidiaries
or guarantees in respect thereof or otherwise made on the Company’s or any of its Restricted
Subsidiaries’ behalf (or the cancellation of such loans, advances or guarantees), in both
cases for bona fide business purposes in the ordinary course of business;

     (6) any employment, consulting, service or termination agreement, or customary
indemnification arrangements, entered into by the Company or any of its Restricted
Subsidiaries with current, former or future officers and employees of Parent, the Company or
any of its Restricted Subsidiaries and the payment of compensation to officers and employees
of Parent, the Company or any of its Restricted Subsidiaries (including amounts paid
pursuant to employee benefit plans, employee stock option or similar plans), in each case in
the ordinary course of business;

     (7) transactions with a Person that is an Affiliate of the Company solely because
the Company, directly or indirectly, owns Equity Interests in, or controls, such Person;

     (8) payments by the Company or any of its Restricted Subsidiaries to The Goldman
Sachs Group, Inc. and its Affiliates for any financial advisory services, financing, mergers
and acquisitions advisory, insurance brokerage, underwriting or placement services or in
respect of other investment banking services, including without limitation, in connection
with acquisitions or divestitures, which payments are approved by a majority of the
disinterested members of the Board of Directors of Parent in good faith;

     (9) transactions pursuant to any contracts, instruments or other agreements or
arrangements in each case as in effect on the date of this Indenture, and any transactions
contemplated thereby, or any amendment, modification or supplement thereto or any
replacement thereof entered into from time to time, as long as such agreement or arrangement
as so amended, modified, supplemented or replaced, taken as a whole, is not materially more
disadvantageous to the Company and its Restricted Subsidiaries at the time executed than the
original agreement or arrangement as in effect on the date of this Indenture;

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     (10) any Guarantee by Parent or any other direct or indirect parent of the Company
of Indebtedness of the Company that was permitted by this Indenture;

     (11) transactions with Affiliates solely in their capacity as holders of
Indebtedness or Equity Interests of the Company or any of its Subsidiaries, so long as such
transaction is with all holders of such class (and there are such non-Affiliate holders) and
such Affiliates are treated no more favorably than all other holders of such class
generally;

     (12) transactions with customers, clients, suppliers, joint venture partners or
purchasers or sellers of goods or services (including pursuant to joint venture agreements)
in the ordinary course of business on terms not materially less favorable as might
reasonably have been obtained at such time from a Person that is not an Affiliate of the
Company, as determined in good faith by the Company;

     (13) transactions in which the Company or any of its Restricted Subsidiaries, as
the case may be, delivers to the Trustee a letter from an independent financial advisor
stating that such transaction is fair to the Company or such Restricted Subsidiary from a
financial point of view or meets the requirements of prong (1) of Section 4.11(a);

     (14) the existence of, or the performance by the Company or any of its Restricted
Subsidiaries of its obligations under the terms of, any registration rights agreement to
which it is a party or becomes a party in the future;

     (15) any contribution to the common equity capital of the Company;

     (16) any transaction with any Person who is not an Affiliate immediately before the
consummation of such transaction that becomes an Affiliate as a result of such transaction;

     (17) the pledge of Equity Interests of any Unrestricted Subsidiary to lenders to
support the Indebtedness of such Unrestricted Subsidiary owed to such lenders; and

     (18) payments by the Company (or Parent or any other direct or indirect parent of
the Company) or any of the Restricted Subsidiaries pursuant to any tax sharing, allocation
or similar agreement.

Section 4.12 Liens.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, create,
incur, assume or otherwise cause or suffer to exist or become effective any Lien of any kind (other
than Permitted Liens) upon any of their property or assets, now owned or hereafter acquired.

Section 4.13 Corporate Existence.

     Subject to Article 5 hereof, the Company shall do or cause to be done all things
necessary to preserve and keep in full force and effect its corporate existence, and the corporate,
partnership or other existence of each of its Restricted Subsidiaries, in accordance with the
respective organizational documents (as the same may be amended from time to time) of the Company
or any such Restricted Subsidiary; provided, however, that the Company shall not be required
to preserve the corporate, partnership or other existence of any of its Restricted
Subsidiaries, if the Board of Directors shall determine that the preservation thereof is no
longer desirable in the conduct of the business of the Company and its Restricted
Subsidiaries, taken as a whole.

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Section 4.14 Offer to Repurchase Upon Change of Control.

     (a) If a Change of Control occurs, each Holder of Notes will have the right to require the
Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess
thereof) of that Holder’s Notes pursuant to an offer (a “Change of Control Offer”) on the terms set
forth in this Indenture. In the Change of Control Offer, the Company will offer an offer price (a
“Change of Control Payment”) in cash equal to 101% of the aggregate principal amount of Notes
repurchased plus accrued and unpaid interest and Special Interest (if any) thereon, to the date of
purchase, subject to the rights of Holders of Notes on the relevant record date to receive interest
due on the relevant interest payment date. Within 30 days following any Change of Control (or prior
to the Change of Control if a definitive agreement is in place for the Change of Control), the
Company will send a notice to each Holder electronically or by first class mail at its registered
address or otherwise in accordance with the procedures of DTC, describing the transaction or
transactions that constitute the Change of Control and offering to repurchase Notes on a date (the
“Change of Control Payment Date”) specified in such notice, which date shall be no earlier than 30
days and no later than 60 days from the date such notice is mailed, pursuant to the procedures
required by this Indenture and described in such notice. The Company will comply with the
requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent such laws and regulations are applicable in connection with the repurchase
of the Notes as a result of a Change of Control. To the extent that the provisions of any
securities laws or regulations conflict with the Change of Control provisions of this Indenture,
the Company will comply with the applicable securities laws and regulations and will not be deemed
to have breached its obligations under the Change of Control provisions of this Indenture by virtue
of such compliance.

     (b) On the Change of Control Payment Date, the Company will, to the extent lawful:

     (1) accept for payment all Notes or portions thereof properly tendered pursuant to
the Change of Control Offer;

     (2) deposit with the paying agent an amount equal to the Change of Control Payment
in respect of all Notes or portions thereof properly tendered; and

     (3) deliver or cause to be delivered to the Trustee the Notes so accepted together
with an Officers’ Certificate of the Company stating the aggregate principal amount of Notes
or portions thereof being purchased by the Company.

     (c) The paying agent will promptly mail or wire transfer to each Holder of Notes properly
tendered and so accepted the Change of Control Payment for such Notes, and the Trustee will
promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note
equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided
that each such new Note will be in a principal amount of $2,000 or an integral multiple of $1,000
in excess thereof. Any Note so accepted for payment will cease to accrue interest on and after the
Change of Control Payment Date.

     (d) Notwithstanding anything to the contrary in this Section 4.14, the Company will not be
required to make a Change of Control Offer upon a Change of Control if (1) a third party makes the
Change of Control Offer in the manner, at the times and otherwise in compliance with the
requirements set forth in this Section 4.14 and purchases all Notes properly tendered and not
withdrawn under such Change of Control Offer or (2) a notice of redemption has been given for all
of the Notes pursuant to Section 3.07 hereof, unless and until there is a default in payment of the
applicable redemption price.

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     (e) Notwithstanding anything to the contrary contained herein, a Change of Control Offer
may be made in advance of a Change of Control, subject to one or more conditions precedent,
including but not limited to the consummation of such Change of Control, if a definitive agreement
is in place for the Change of Control at the time the Change of Control Offer is made.

Section 4.15 Limitation on Layering.

     The Company will not incur, and will not permit any Subsidiary Guarantor to incur, any
Indebtedness (including Permitted Debt) that is contractually subordinated in right of payment to
any other Indebtedness of the Company or such Subsidiary Guarantor unless such Indebtedness is also
contractually subordinated in right of payment to the Notes and the applicable Note Guarantees on
substantially identical terms; provided, however, that no Indebtedness will be deemed to be
contractually subordinated in right of payment to any other Indebtedness of the Company solely by
virtue of being unsecured or by virtue of being secured on a junior priority basis or by virtue of
the fact that the holders of any secured Indebtedness have entered into intercreditor agreements
giving one or more of such holders priority over the other holders in the collateral held by them.

Section 4.16 Designation of Restricted and Unrestricted Subsidiaries.

     (a) The Board of Directors of the Company or Parent may designate any Subsidiary
(including any existing Subsidiary and any newly acquired or newly formed Subsidiary) to be an
Unrestricted Subsidiary; provided that:

     (1) any Guarantee by the Company or any Restricted Subsidiary of the Company of any
Indebtedness of the Subsidiary being so designated will be deemed to be an incurrence of
Indebtedness by the Company or such Restricted Subsidiary (or both, if applicable) at the
time of such designation, and such incurrence of Indebtedness would be permitted under
Section 4.09 hereof;

     (2) the aggregate Fair Market Value of all outstanding Investments owned by the
Company and its Restricted Subsidiaries in the Subsidiary being so designated (including any
Guarantee by the Company or any Restricted Subsidiary of the Company of any Indebtedness of
such Subsidiary) will be deemed to be an Investment made as of the time of such designation
and that such Investment would be permitted under Section 4.07 hereof;

     (3) such Subsidiary does not own any Equity Interests of, or hold any Liens on any
property of, the Company or any Restricted Subsidiary of the Company (other than Equity
Interests of any Restricted Subsidiary of such Subsidiary that is concurrently being
designated as an Unrestricted Subsidiary);

     (4) the Subsidiary being so designated, after giving effect to such designation:

     (A) is not party to any agreement, contract, arrangement or understanding
with the Company or any Restricted Subsidiary of the Company that would not be
permitted under Section 4.11 hereof after giving effect to the exceptions thereto;

     (B) is a Person with respect to which neither the Company nor any of its
Restricted Subsidiaries has any direct or indirect obligation (i) to subscribe for
additional Equity Interests or (ii) to maintain or preserve such Person’s financial
condition or to cause such Person to achieve any specified levels of operating
results except to the extent permitted under Section 4.07 and Section 4.09 hereof;

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     (C) (i) has not guaranteed or otherwise directly or indirectly provided
credit support for any Indebtedness of the Company or any of its Restricted
Subsidiaries, except to the extent such Guarantee or credit support would be
released upon such designation and (ii) to the extent the Indebtedness of the
Subsidiary is non-recourse Indebtedness, any Guarantee or credit support by the
Company or a Restricted Subsidiary would be permitted under Section 4.07 and Section
4.09 hereof; and

(5) no Event of Default would be in existence following such designation.

     (b) Any designation of a Restricted Subsidiary of the Company as an Unrestricted Subsidiary
shall be evidenced to the Trustee by filing with the Trustee a certified copy of the resolution of
the Board of Directors of the Company or Parent giving effect to such designation and an Officers’
Certificate certifying that such designation complied with the preceding conditions and was
permitted by this Indenture. If, at any time, any Unrestricted Subsidiary would fail to meet any of
the preceding requirements set forth in clause (4) above, it shall thereafter cease to be an
Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness, Investments or Liens
on the property of such Subsidiary shall be deemed to be incurred or made by a Restricted
Subsidiary of the Company as of such date and, if such Indebtedness, Investments or Liens are not
permitted to be incurred or made as of such date under this Indenture, the Company shall be in
default under this Indenture.

     (c) The Board of Directors of the Company or Parent may at any time designate any Unrestricted
Subsidiary to be a Restricted Subsidiary; provided that:

     (1) such designation shall be deemed to be an incurrence of Indebtedness by a
Restricted Subsidiary of the Company of any outstanding Indebtedness of such Unrestricted
Subsidiary and such designation shall only be permitted if such Indebtedness is permitted
under Section 4.09 hereof, calculated on a pro forma basis as if such designation had
occurred at the beginning of the four-quarter reference period;

     (2) all outstanding Investments owned by such Unrestricted Subsidiary will be deemed to
be made as of the time of such designation and such Investments shall only be permitted if
such Investments would be permitted under Section 4.07 hereof;

     (3) all Liens upon property or assets of such Unrestricted Subsidiary existing at the
time of such designation would be permitted under Section 4.12 hereof; and

     (4) no Default or Event of Default would be in existence following such designation.

Section 4.17 Guarantees.

     (a) If the Company or any of its Restricted Subsidiaries (1) acquires or creates another
Wholly Owned Domestic Subsidiary (other than an Excluded Subsidiary) on or after the date of this
Indenture or (2) any Restricted Subsidiary of the Company becomes a guarantor with respect to the
ABL Credit Facility or any other indebtedness of the Company or any Subsidiary Guarantor, then,
within 45 days of the date of such acquisition or guarantee, as applicable, such Subsidiary must
become a Subsidiary Guarantor and execute a supplemental indenture and deliver an Opinion of
Counsel to the Trustee.

     (b) The Company will not permit any of its Restricted Subsidiaries, directly or indirectly, to
Guarantee any other Indebtedness of the Company or any Subsidiary Guarantor (including, but not
limited to, any Indebtedness under any Credit Facility) unless such subsidiary is a Subsidiary
Guarantor

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or simultaneously executes and delivers a supplemental indenture providing for the Guarantee
of the payment of the Notes by such Restricted Subsidiary, which Guarantee shall be senior in right
of payment to or pari passu in right of payment with such Restricted Subsidiary’s Guarantee of such
other Indebtedness. This Section 4.17 shall not be applicable to any guarantee of any Restricted
Subsidiary that existed at the time such Person became a Restricted Subsidiary and was not incurred
in connection with, or in contemplation of, such Person becoming a Restricted Subsidiary. In
addition, in the event that any Wholly Owned Domestic Subsidiary that is an Excluded Subsidiary
ceases to be an Excluded Subsidiary, or if any Excluded Subsidiary becomes a guarantor with respect
to the ABL Credit Facility or any other Indebtedness of the Company or any Subsidiary Guarantor,
then such Subsidiary must become a Subsidiary Guarantor and execute a supplemental indenture and
deliver an Opinion of Counsel to the Trustee within 45 days of the date of such event. The form of
the Note Guarantee is attached as Exhibit E.

Section 4.18 Changes in Covenants When Notes Rated Investment Grade.

     (a) If on any date following the date of this Indenture:

     (1) the Notes are rated Baa3 or better by Moody’s and BBB- or better by S&P (or, if
either such entity ceases to rate the Notes for reasons outside of the control of the
Company, the equivalent investment grade credit rating from any other “nationally recognized
statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the
Exchange Act selected by the Company as a replacement agency); and

     (2) no Default or Event of Default shall have occurred and be continuing,

then, beginning on that day and subject to the provisions of Section 4.18(b), Sections 4.03,
4.07, 4.08, 4.09, 4.10, 4.11, 4.16, 4.17 and clause (3) of Section 5.01(a) hereof shall be
suspended;

provided that during any period that the foregoing covenants have been suspended, the Company’s or
Parent’s Board of Directors may not designate any of the Company’s Subsidiaries as Unrestricted
Subsidiaries pursuant to Section 4.16 hereof.

     (b) Notwithstanding the foregoing, if the rating assigned by Moody’s or S&P should
subsequently decline to below Baa3 or BBB-, respectively, Sections 4.03, 4.07, 4.08, 4.09, 4.10,
4.11, 4.16, 4.17 and clause (3) of Section 5.01(a) hereof will be reinstituted as of and from the
date of such rating decline. Calculations under the reinstated Section 4.07 hereof will be made as
if Section 4.07 hereof had been in effect since the date of this Indenture except that no Default
will be deemed to have occurred solely by violation of Section 4.07 hereof while Section 4.07
hereof was suspended.

ARTICLE 5

SUCCESSORS

Section 5.01 Merger, Consolidation or Sale of Assets.

     (a) The Company shall not, directly or indirectly: (1) consolidate or merge with or into
another Person (whether or not the Company is the surviving corporation) or (2) sell, assign,
transfer, convey, lease or otherwise dispose of all or substantially all of the properties and
assets of the Company and its Restricted Subsidiaries taken as a whole, in one or more related
transactions, to another Person or Persons, unless:

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(1) either:

     (A) the Company is the surviving corporation; or

     (B) the Person formed by or surviving such consolidation or merger (if other
than the Company) or to which such sale, assignment, transfer, conveyance, lease or
other disposition shall have been made (i) is a corporation, limited liability
company, partnership (including a limited partnership) or trust organized or
existing under the laws of the United States, any state or territory thereof or the
District of Columbia (provided that if such Person is not a corporation, (A) a
corporate Wholly Owned Restricted Subsidiary of such Person organized or existing
under the laws of the United States, any state or territory thereof or the District
of Columbia, or (B) a corporation of which such Person is a Wholly Owned Restricted
Subsidiary organized or existing under the laws of the United States, any state or
territory thereof or the District of Columbia, is a co-issuer of the Notes or
becomes a co-issuer of the Notes in connection therewith) and (ii) assumes all the
obligations of the Company under the Notes, this Indenture and the Registration
Rights Agreement pursuant to agreements reasonably satisfactory to the Trustee;

     (2) immediately after giving effect to such transaction no Event of Default exists;

     (3) immediately after giving effect to such transaction and any related financing
transactions as if the same had occurred at the beginning of the applicable four-quarter
period, on a pro forma basis, either

     (A) the Company or the Person formed by or surviving any such consolidation or
merger (if other than the Company) would be permitted to incur at least $1.00 of
additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth
in Section 4.09(a) hereof; or

     (B) the Fixed Charge Coverage Ratio for the Company or the Person formed by or
surviving any such consolidation or merger (if other than the Company) would not be
less than the Fixed Charge Coverage Ratio for the Company immediately prior to such
transactions; and

     (4) each Guarantor, unless such Guarantor is the Person with which the Company has
entered into a transaction under this Section 5.01, shall have by amendment to its Note
Guarantee confirmed that its Note Guarantee shall apply to the obligations of the Company or
the surviving Person in accordance with the Notes and this Indenture.

     (b) The provision set forth in clause (3) of Section 5.01(a) shall not apply to (1) any
merger, consolidation or sale, assignment, lease, transfer, conveyance or other disposition of
assets between or among the Company and any of its Restricted Subsidiaries or (2) any merger
between the Company and an Affiliate of the Company, or between a Restricted Subsidiary and an
Affiliate of the Company, in each case in this clause (2) solely for the purpose of reincorporating
the Company or such Restricted Subsidiary, as the case may be, in the United States, any state
thereof, the District of Columbia or any territory thereof, so long as the amount of Indebtedness
of the Company and its Restricted Subsidiaries is not increased thereby.

Section 5.02 Successor Corporation Substituted.

     Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or
other disposition of all or substantially all of the properties or assets of the Company in a
transaction that is

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subject to, and that complies with the provisions of, Section 5.01 hereof, the successor
Person formed by such consolidation or into or with which the Company is merged or to which such
sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be
substituted for (so that from and after the date of such consolidation, merger, sale, assignment,
transfer, lease, conveyance or other disposition, the provisions of this Indenture referring to the
“Company” shall refer instead to the successor Person and not to the Company), and may exercise
every right and power of the Company under this Indenture with the same effect as if such successor
Person had been named as the Company herein; provided, however, that the predecessor Company shall
not be relieved from the obligation to pay the principal of, premium on, if any, interest and
Special Interest, if any, on, the Notes except in the case of a sale of all of the Company’s assets
in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof.

ARTICLE 6

DEFAULTS AND REMEDIES

Section 6.01 Events of Default.

Each of the following is an “Event of Default”:

     (1) default for 30 consecutive days in the payment when due of interest on, or Special
Interest with respect to, the Notes;

     (2) default in payment when due (whether at maturity, upon acceleration, redemption or
otherwise) of the principal of, or premium, if any, on the Notes;

     (3) failure by the Company or any of its Restricted Subsidiaries to comply with the
provisions of Sections 4.10, 4.14, 5.01 or 11.04(a) hereof for 30 days after written notice
by the Trustee or Holders representing 25% or more of the aggregate principal amount of
Notes outstanding;

     (4) failure by the Company or any of its Restricted Subsidiaries for 60 days after
written notice by the Trustee or Holders representing 25% or more of the aggregate principal
amount of Notes outstanding to comply with any of the agreements in this Indenture or the
Security Documents for the benefit of the Holders of the Notes other than those referred to
in clauses (1) through (3) of this Section 6.01;

     (5) default under any mortgage, indenture or instrument under which there is issued or
by which there is secured or evidenced any Indebtedness for money borrowed by the Company or
any of the Company’s Significant Subsidiaries (or any group of Restricted Subsidiaries of
the Company that together would constitute a Significant Subsidiary of the Company), or the
payment of which is guaranteed by the Company or any of the Company’s Significant
Subsidiaries (or any group of Restricted Subsidiaries of the Company that together would
constitute a Significant Subsidiary of the Company), whether such Indebtedness or Guarantee
now exists, or is created after the date of this Indenture, if that default:

     (A) is caused by a failure to make any payment when due at the final maturity
of such Indebtedness (after giving effect to any applicable grace period) (a
“Payment Default”); or

     (B) results in the acceleration of such Indebtedness prior to its express
maturity,

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and, in each case, the principal amount of any such Indebtedness, together with the
principal amount of any other such Indebtedness under which there has been a Payment Default
or the maturity of which has been so accelerated, aggregates $50.0 million or more;

     (6) failure by the Company or any of the Company’s Significant Subsidiaries (or any
group of Restricted Subsidiaries of the Company that together would constitute a Significant
Subsidiary of the Company) to pay non-appealable final judgments aggregating in excess of
$50.0 million (excluding amounts covered by insurance provided by a carrier that has
acknowledged coverage and has the ability to perform), which judgments are not paid,
discharged or stayed for a period of more than 60 days after such judgments have become
final and non-appealable and, in the event such judgment is covered by insurance, an
enforcement proceeding has been commenced by any creditor upon such judgment or decree which
is not promptly stayed;

     (7) the occurrence of any of the following:

     (A) any Security Document for the benefit of Holders of the Notes is held in
any judicial proceeding to be unenforceable or invalid or ceases for any reason to
be in full force and effect in any material respect, other than in accordance with
the terms of the relevant Security Documents; or

     (B) except as permitted by this Indenture, any Priority Lien for the benefit of
Holders of the Notes purported to be granted under any Security Document for the
benefit of Holders of the Notes on Collateral, individually or in the aggregate,
having a Fair Market Value in excess of $50.0 million ceases to be an enforceable
and perfected first-priority Lien in any material respect, subject only to Permitted
Prior Liens, and such condition continues for 60 days after written notice by the
Trustee or the Collateral Trustee of failure to comply with such requirement;
provided that it will not be an Event of Default under this clause 7(B) if such
condition results from the action or inaction of the Trustee or the Collateral
Trustee; or

     (C) the Company or any Significant Subsidiary that is a Subsidiary Guarantor
(or any such Subsidiary Guarantors that together would constitute a Significant
Subsidiary), or any Person acting on behalf of any of them, denies or disaffirms, in
writing, any material obligation of the Company or such Significant Subsidiary that
is a Guarantor (or such Subsidiary Guarantors that together constitute a Significant
Subsidiary) set forth in or arising under any Security Document for the benefit of
Holders of the Notes;

     (8) except as permitted by this Indenture, any Note Guarantee of a Subsidiary Guarantor
that is a Significant Subsidiary of the Company (or any such Subsidiary Guarantors that
together would constitute a Significant Subsidiary) shall be held in any judicial proceeding
to be unenforceable or invalid or shall cease for any reason to be in full force and effect
in any material respect or any Guarantor, or any Person acting on behalf of any Guarantor,
shall deny or disaffirm in writing its obligations under its Note Guarantee if, and only if,
in each such case, such Default continues for 21 days after notice of such Default shall
have been given to the Trustee;

     (9) the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary
or any group of Restricted Subsidiaries of the Company that, taken together, would
constitute a Significant Subsidiary pursuant to or within the meaning of Bankruptcy Law:

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(A) commences a voluntary case,

(B) consents to the entry of an order for relief against it in an involuntary
case,

(C) consents to the appointment of a custodian of it or for all or
substantially all of its property,

(D) makes a general assignment for the benefit of its creditors, or

(E) generally is not paying its debts as they become due;

     (10) a court of competent jurisdiction enters an order or decree under any Bankruptcy
Law that:

     (A) is for relief against the Company or any of its Restricted Subsidiaries
that is a Significant Subsidiary or any group of Restricted Subsidiaries of the
Company that, taken together, would constitute a Significant Subsidiary in an
involuntary case;

     (B) appoints a custodian of the Company or any of its Restricted Subsidiaries
that is a Significant Subsidiary or any group of Restricted Subsidiaries of the
Company that, taken together, would constitute a Significant Subsidiary or for all
or substantially all of the property of the Company or any of its Restricted
Subsidiaries that is a Significant Subsidiary or any group of Restricted
Subsidiaries of the Company that, taken together, would constitute a Significant
Subsidiary; or

     (C) orders the liquidation of the Company or any of its Restricted Subsidiaries
that is a Significant Subsidiary or any group of Restricted Subsidiaries of the
Company that, taken together, would constitute a Significant Subsidiary;

     and the order or decree remains unstayed and in effect for 60 consecutive days.

     In the event of any Event of Default specified in clause (5) above, such Event of Default and
all consequences thereof (excluding any resulting payment default, other than as a result of
acceleration of the Notes) shall be annulled, waived and rescinded, automatically and without any
action by the Trustee or the Holders, if within 20 days after such Event of Default arose:

	 	(1)	 	the Indebtedness or guarantee that is the basis for such Event of Default has
been discharged;
	 
	 	(2)	 	the Holders thereof have rescinded or waived the acceleration, notice or action
(as the case may be) giving rise to such Event of Default; or
	 
	 	(3)	 	the default that is the basis for such Event of Default has been cured.

Section 6.02 Acceleration.

     In the case of an Event of Default specified in clause (9) or (10) of Section 6.01 hereof,
with respect to the Company or any Significant Subsidiary of the Company (or any group of
Restricted Subsidiaries of the Company that, taken together, would constitute a Significant
Subsidiary of the Company), all outstanding Notes will become due and payable immediately without
further action or

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notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of
at least 25% in aggregate 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. Upon any such declaration, the Notes shall become due and payable immediately. The
Trustee shall have no obligation to accelerate the Notes if in the best judgment of the Trustee
acceleration is not in the best interest of the Holders of the Notes.

Section 6.03 Other Remedies.

     If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy
to collect the payment of principal of, premium on, if any, interest or Special Interest, if any,
on, the Notes or to enforce the performance of any provision of the Notes or this Indenture.

     The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Note
in exercising any right or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law.

Section 6.04 Waiver of Past Defaults.

     The Holders of a majority in aggregate principal amount of the then outstanding Notes by
written notice to the Trustee may, on behalf of the Holders of all of the Notes, waive any existing
Default or Event of Default and its consequences hereunder or under the Security Documents, except
a continuing Default or Event of Default in the payment of interest or Special Interest, if any,
on, premium, if any, on, or the principal of, the notes (including in connection with an offer to
purchase); provided, however, that the Holders of a majority in aggregate principal amount of the
then outstanding Notes may rescind an acceleration and its consequences, including any related
payment default that resulted from such acceleration (provided such rescission would not conflict
with any judgment of a court of competent jurisdiction). Upon any such waiver, such Default shall
cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for
every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default
or impair any right consequent thereon.

Section 6.05 Control by Majority.

     Holders of a majority in aggregate principal amount of the then outstanding Notes may direct
the time, method and place of conducting any proceeding for exercising any remedy available to the
Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to
follow any direction that conflicts with law or this Indenture that may involve the Trustee in
personal liability, or that the Trustee determines in good faith may be unduly prejudicial to the
rights of Holders not joining in the giving of such direction and may take any other action it
deems proper that is not inconsistent with any such direction from Holders.

Section 6.06 Limitation on Suits.

     No Holder of a Note may pursue any remedy with respect to this Indenture or the Notes unless
each of the following conditions is met:

          (1) the Holder gives the Trustee written notice of a continuing Event of Default;

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     (2) the Holders of at least 25% in aggregate principal amount of outstanding Notes make
a written request to the Trustee to pursue the remedy;

     (3) such Holder or Holders offer the Trustee indemnity, security or prefunding
reasonably satisfactory to the Trustee against any costs, loss, liability or expense;

     (4) the Trustee does not comply with the request within 60 days after receipt of the
request and the offer of indemnity; and

     (5) during such 60-day period, the Holders of a majority in aggregate principal amount
of the outstanding Notes do not give the Trustee a direction that is inconsistent with the
request.

     A Holder of a Note may not use this Indenture to prejudice the rights of another Holder of a
Note or to obtain a preference or priority over another Holder of a Note.

Section 6.07 Rights of Holders of Notes to Receive Payment.

     Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to
receive payment of the principal of, premium, if any, or Special Interest, if any, or interest on,
such Note, on or after the respective due dates expressed in the Note (including in connection with
an offer to purchase), or to bring suit for the enforcement of any such payment on or after such
respective dates, shall not be impaired or affected without the consent of such Holder; provided
that a Holder shall not have the right to institute any such suit for the enforcement of payment if
and to the extent that the institution or prosecution thereof or the entry of judgment therein
would, under applicable law, result in the surrender, impairment, waiver or loss of the Lien of a
Security Document upon any property subject to such Lien.

Section 6.08 Collection Suit by Trustee.

     If an Event of Default specified in Section 6.01(1) or (2) hereof occurs and is continuing,
the Trustee is authorized to recover judgment in its own name and as trustee of an express trust
against the Company for the whole amount of principal of, premium, if any, interest and Special
Interest, if any, remaining unpaid on, the Notes and interest on overdue principal and, to the
extent lawful, interest and such further amount as shall be sufficient to cover the costs and
expenses of collection, including the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel.

Section 6.09 Trustee May File Proofs of Claim.

     The Trustee is authorized to file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Company
(or any other obligor upon the Notes), its creditors or its property and shall be entitled and
empowered to collect, receive and distribute any money or other property payable or deliverable on
any such claims and any custodian in any such judicial proceeding is hereby authorized by each
Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the
making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, and any other amounts due the Trustee under Section 7.07 hereof. To the extent that the
payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in
any such proceeding, shall be denied for any reason, payment of the same shall be

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secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money,
securities and other properties that the Holders may be entitled to receive in such proceeding
whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing
herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or
adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition
affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of
the claim of any Holder in any such proceeding.

Section 6.10 Priorities.

     If the Trustee collects any money pursuant to this Article 6, it shall pay out the money in
the following order:

     First: to the Trustee, its agents and attorneys for amounts due under Section 7.07
hereof, including payment of all compensation, expenses and liabilities incurred, and all
advances made, by the Trustee and the costs and expenses of collection;

     Second: to Holders of Notes for amounts due and unpaid on the Notes for principal,
premium, if any, interest and Special Interest, if any, ratably, without preference or
priority of any kind, according to the amounts due and payable on the Notes for principal,
premium, if any, interest and Special Interest, if any, respectively; and

     Third: to the Company or to such party as a court of competent jurisdiction shall
direct, including a Guarantor, if applicable.

     The Trustee may fix a record date and payment date for any payment to Holders of Notes
pursuant to this Section 6.10.

Section 6.11 Undertaking for Costs.

     In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion
may require the filing by any party litigant in the suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in the suit, having due regard to the merits and good faith of the
claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the
Trustee, a suit by a Holder of a Note pursuant to Section 6.07 hereof, or a suit by Holders of more
than 10% in aggregate principal amount of the then outstanding Notes.

ARTICLE 7

TRUSTEE

Section 7.01 Duties of Trustee.

     (a) If an Event of Default has occurred and is continuing, the Trustee will exercise such of
the rights and powers vested in it by this Indenture, and use the same degree of care and skill in
its exercise, as a prudent person would exercise or use under the circumstances in the conduct of
such person’s own affairs.

     (b) Except during the continuance of an Event of Default:

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     (1) the duties of the Trustee will be determined solely by the express provisions of
this Indenture and the Trustee need perform only those duties that are specifically set
forth in this Indenture and no others, and no implied covenants or obligations shall be read
into this Indenture against the Trustee; and

     (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture. However, the Trustee will examine the certificates and opinions to determine
whether or not they conform to the requirements of this Indenture.

     (c) The Trustee may not be relieved from liabilities for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that:

     (1) this paragraph does not limit the effect of paragraph (b) of this Section 7.01;

     (2) the Trustee will not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the
pertinent facts; and

     (3) the Trustee will not be liable with respect to any action it takes or omits to take
in good faith in accordance with a direction received by it pursuant to Section 6.05 hereof.

     (d) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to paragraphs (a), (b), and (c) of this Section 7.01.

     (e) No provision of this Indenture will require the Trustee to expend or risk its own funds or
incur any liability. The Trustee will be under no obligation to exercise any of its rights and
powers under this Indenture at the request of any Holders, unless such Holder has offered to the
Trustee security and indemnity satisfactory to it against any loss, liability or expense.

     (f) The Trustee will not be liable for interest on any money received by it except as the
Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be
segregated from other funds except to the extent required by law.

     (g) Delivery of any reports, information and documents to the Trustee, including pursuant to
Section 4.03, is for informational purposes only and the Trustee’s receipt of such shall not
constitute constructive notice of any information contained therein or determinable from
information contained therein, including the Company’s compliance with any of its covenants
pursuant to Article 4 (as to which the Trustee is entitled to rely exclusively on Officers’
Certificates).

Section 7.02 Rights of Trustee.

     (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to
have been signed or presented by the proper Person. The Trustee need not investigate any fact or
matter stated in the document.

     (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
or an Opinion of Counsel or both. The Trustee will not be liable for any action it takes or omits
to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. The Trustee
may consult with counsel and the written advice of such counsel or any Opinion of Counsel will be
full and complete

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authorization and protection from liability in respect of any action taken, suffered or
omitted by it hereunder in good faith and in reliance thereon.

     (c) The Trustee may act through its attorneys and agents and will not be responsible for the
misconduct or negligence of any agent appointed with due care.

     (d) The Trustee will not be liable for any action it takes or omits to take in good faith that
it believes to be authorized or within the rights or powers conferred upon it by this Indenture.

     (e) Unless otherwise specifically provided in this Indenture, any demand, request, direction
or notice from the Company will be sufficient if signed by an Officer of the Company.

     (f) The Trustee will be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request or direction of any of the Holders unless such Holders have
offered to the Trustee reasonable indemnity or security satisfactory to it against the losses,
liabilities and expenses that might be incurred by it in compliance with such request or direction.

     (g) In no event shall the Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit)
irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action.

     (h) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a
Responsible Officer of the Trustee has knowledge thereof or unless written notice of any event
which is in fact such a default is delivered to the Trustee at the Corporate Trust Office of the
Trustee, and such notice references the Notes and this Indenture.

     (i) The rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be
enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and
other Person employed to act hereunder.

     (j) The Trustee may request that the Issuer delivers a certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to
this Indenture.

     (k) The Trustee and the Collateral Trustee shall not be bound to make any investigation into
(i) the performance or observance of any of the covenants, agreements or other terms or conditions
set forth herein or in any Security Documents, (ii) the occurrence of any default, or the validity,
enforceability, effectiveness or genuineness of this Indenture, any Security Documents or any other
agreement, instrument or document, (iii) the creation, perfection or priority of any Lien purported
to be created by the Security Documents, (iv) the value or the sufficiency of any Collateral, or
(v) the satisfaction of any condition set forth in any Security Documents, other than to confirm
receipt of items expressly required to be delivered to the Collateral Trustee.

Section 7.03 Individual Rights of Trustee.

     The Trustee in its individual or any other capacity may become the owner or pledgee of Notes
and may otherwise deal with the Company or any Affiliate of the Company with the same rights it
would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting
interest it must eliminate such conflict within 90 days, apply to the SEC for permission to
continue as trustee (if this

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Indenture has been qualified under the TIA) or resign. Any Agent may do the same with like
rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof.

Section 7.04 Trustee’s Disclaimer.

     The Trustee will not be responsible for and makes no representation as to the validity or
adequacy of this Indenture or the Notes, it shall not be accountable for the Company’s use of the
proceeds from the Notes or any money paid to the Company or upon the Company’s direction under any
provision of this Indenture, it will not be responsible for the use or application of any money
received by any Paying Agent other than the Trustee, and it will not be responsible for any
statement or recital herein or any statement in the Notes or any other document in connection with
the sale of the Notes or pursuant to this Indenture other than its certificate of authentication.

Section 7.05 Notice of Defaults.

     If a Default or Event of Default occurs and is continuing and if it is known to the Trustee,
the Trustee will mail to Holders of Notes a notice of the Default or Event of Default within 90
days after it occurs. Except in the case of a Default or Event of Default in payment of principal
of, premium on, if any, interest or Special Interest, if any, on, any Note, the Trustee may
withhold the notice if and so long as a committee of its Responsible Officers in good faith
determines that withholding the notice is in the interests of the Holders of the Notes.

Section 7.06 Reports by Trustee to Holders of the Notes.

     (a) Within 60 days after each May 15 beginning with the May 15 following the date of this
Indenture, and for so long as Notes remain outstanding, the Trustee will mail to the Holders of the
Notes a brief report dated as of such reporting date that complies with TIA §313(a) (but if no
event described in TIA §313(a) has occurred within the twelve months preceding the reporting date,
no report need be transmitted). The Trustee also will comply with TIA §313(b)(2). The Trustee
will also transmit by mail all reports as required by TIA §313(c).

     (b) A copy of each report at the time of its mailing to the Holders of Notes will be mailed by
the Trustee to the Company and filed by the Trustee with the SEC and each stock exchange on which
the Notes are listed in accordance with TIA §313(d). The Company will promptly notify the Trustee
when the Notes are listed on any stock exchange.

Section 7.07 Compensation and Indemnity.

     (a) The Company will pay to the Trustee such reasonable compensation for its acceptance of
this Indenture and services hereunder as the parties shall agree in writing from time to time. The
Trustee’s compensation will not be limited by any law on compensation of a trustee of an express
trust. The Company will reimburse the Trustee promptly upon request for all reasonable
disbursements, advances and expenses incurred or made by it in addition to the compensation for its
services. Such expenses will include the reasonable compensation, disbursements and expenses of
the Trustee’s agents and counsel.

     (b) The Company and the Guarantors will indemnify the Trustee against any and all losses,
liabilities or expenses incurred by it arising out of or in connection with the acceptance or
administration of its duties under this Indenture, including the costs and expenses of enforcing
this Indenture against the Company and the Guarantors (including this Section 7.07) and defending
itself against any claim (whether asserted by the Company, the Guarantors, any Holder or any other
Person) or liability in

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connection with the exercise or performance of any of its powers or duties hereunder, except
to the extent any such loss, liability or expense may be attributable to its reckless misconduct,
negligence or bad faith. The Trustee will notify the Company promptly of any claim for which it
may seek indemnity. Failure by the Trustee to so notify the Company will not relieve the Company
or any of the Guarantors of their obligations hereunder. The Company or such Guarantor will defend
the claim and the Trustee will cooperate in the defense. The Trustee may have separate counsel and
the Company will pay the reasonable fees and expenses of such counsel. Neither the Company nor any
Guarantor need pay for any settlement made without its consent, which consent will not be
unreasonably withheld. Notwithstanding anything in this Indenture to the contrary, the Company
need not reimburse any expense or indemnity against any loss, liability or expense incurred by the
Trustee through the Trustee’s own reckless misconduct, negligence or bad faith.

     (c) The obligations of the Company and the Guarantors under this Section 7.07 will survive the
satisfaction and discharge of this Indenture.

     (d) To secure the Company’s and the Guarantors’ payment obligations in this Section 7.07, the
Trustee will have a Lien prior to the Notes on all money or property held or collected by the
Trustee, except that held in trust to pay principal of, premium on, if any, interest or Special
Interest, if any, on, particular Notes. Such Lien will survive the satisfaction and discharge of
this Indenture.

     (e) When the Trustee incurs expenses or renders services after an Event of Default specified
in Section 6.01(9) or (10) hereof occurs, the expenses and the compensation for the services
(including the fees and expenses of its agents and counsel) are intended to constitute expenses of
administration under any Bankruptcy Law.

     (f) The Trustee will comply with the provisions of TIA §313(b)(2) to the extent applicable.

Section 7.08 Replacement of Trustee.

     (a) A resignation or removal of the Trustee and appointment of a successor Trustee will become
effective only upon the successor Trustee’s acceptance of appointment as provided in this Section
7.08.

     (b) The Trustee may resign in writing at any time and be discharged from the trust hereby
created by so notifying the Company. The Holders of a majority in aggregate principal amount of
the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Company in
writing. The Company may remove the Trustee if:

     (1) the Trustee fails to comply with Section 7.10 hereof or TIA §310;

     (2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is
entered with respect to the Trustee under any Bankruptcy Law;

     (3) a custodian or public officer takes charge of the Trustee or its property; or

     (4) the Trustee becomes incapable of acting.

     (c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for
any reason, the Company will promptly appoint a successor Trustee. Within one year after the
successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then
outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the
Company.

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     (d) If a successor Trustee does not take office within 60 days after the retiring Trustee
resigns or is removed, the retiring Trustee, the Company, or the Holders of at least 10% in
aggregate principal amount of the then outstanding Notes may petition any court of competent
jurisdiction for the appointment of a successor Trustee.

     (e) If the Trustee, after written request by any Holder who has been a Holder for at least six
months, fails to comply with Section 7.10 hereof, such Holder may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

     (f) A successor Trustee will deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon, the resignation or removal of the retiring Trustee will
become effective, and the successor Trustee will have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee will mail a notice of its succession to
Holders. The retiring Trustee will promptly transfer all property held by it as Trustee to the
successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to
the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant
to this Section 7.08, the Company’s obligations under Section 7.07 hereof will continue for the
benefit of the retiring Trustee.

Section 7.09 Successor Trustee by Merger, etc.

     If the Trustee consolidates, merges or converts into, or transfers all or substantially all of
its corporate trust business to, another corporation, the successor corporation without any further
act will be the successor Trustee.

Section 7.10 Eligibility; Disqualification.

     There will at all times be a Trustee hereunder that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof that is authorized
under such laws to exercise corporate trustee power, that is subject to supervision or examination
by federal or state authorities and that has a combined capital and surplus of at least $100.0
million as set forth in its most recent published annual report of condition.

     This Indenture will always have a Trustee who satisfies the requirements of TIA §310(a)(1),
(2) and (5). The Trustee is subject to TIA §310(b).

Section 7.11 Preferential Collection of Claims Against Company.

     The Trustee is subject to TIA §311(a), excluding any creditor relationship listed in TIA
§311(b). A Trustee who has resigned or been removed shall be subject to TIA §311(a) to the extent
indicated therein.

ARTICLE 8

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance.

     The Company may at any time, at the option of the Company’s or Parent’s Board of Directors
evidenced by a resolution set forth in an Officers’ Certificate, elect to have either Section 8.02
or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth
below in this Article 8.

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Section 8.02 Legal Defeasance and Discharge.

     Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section
8.02, the Company and each of the Guarantors will, subject to the satisfaction of the conditions
set forth in Section 8.04 hereof, be deemed to have been discharged from their obligations with
respect to all outstanding Notes (including the Note Guarantees) and cure all then existing Events
of Default on the date the conditions set forth below are satisfied (hereinafter, “Legal
Defeasance”). For this purpose, Legal Defeasance means that the Company and the Guarantors will be
deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes
(including the Note Guarantees), which will thereafter be deemed to be “outstanding” only for the
purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in clauses (1)
and (2) below, and to have satisfied all their other obligations under such Notes, the Note
Guarantees and this Indenture (and the Trustee, on demand of and at the expense of the Company,
shall execute proper instruments acknowledging the same, except for the following provisions which
will survive until otherwise terminated or discharged hereunder:

     (1) the rights of Holders of outstanding Notes to receive payments in respect of the
principal of, or interest or premium and Special Interest, if any, on such Notes when such
payments are due from the trust referred to in Section 8.04 hereof;

     (2) the Company’s obligations with respect to such Notes under Article 2 and Section
4.02 hereof;

     (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the
Company’s and the Guarantors’ obligations in connection therewith;

     (4) this Article 8; and

     (5) the optional redemption provisions of this Indenture to the extent that Legal
Defeasance is to be effected together with a redemption.

     Subject to compliance with this Article 8, the Company may exercise its option under this
Section 8.02 notwithstanding the prior exercise of its option under Section 8.03 hereof.

Section 8.03 Covenant Defeasance.

     Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section
8.03, the Company and each of the Guarantors will, subject to the satisfaction of the conditions
set forth in Section 8.04 hereof, be released from each of their obligations under the covenants
contained in Sections 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.14, 4.15, 4.16 and 4.17
hereof and clause (3) of Section 5.01(a) hereof with respect to the outstanding Notes on and after
the date the conditions set forth in Section 8.04 hereof are satisfied (hereinafter, “Covenant
Defeasance”), and the Notes will thereafter be deemed not “outstanding” for the purposes of any
direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof)
in connection with such covenants, but will continue to be deemed “outstanding” for all other
purposes hereunder (it being understood that such Notes will not be deemed outstanding for
accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the
outstanding Notes and Note Guarantees, the Company and the Guarantors may omit to comply with and
will have no liability in respect of any term, condition or limitation set forth in any such
covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such
covenant or by reason of any reference in any such covenant to any other provision herein or in any
other document and such omission to comply will not constitute a Default or an Event of Default
under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such
Notes and Note

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Guarantees will be unaffected thereby. In addition, upon the Company’s exercise under
Section 8.01 hereof of the option applicable to this Section 8.03, subject to the satisfaction of
the conditions set forth in Section 8.04 hereof, Sections 6.01(3), (4), (5), (6), (7) and (8)
hereof will not constitute Events of Default.

Section 8.04 Conditions to Legal or Covenant Defeasance.

     In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02
or 8.03 hereof:

     (1) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of
the Holders of the Notes, cash in U.S. dollars, non-callable Government Securities, or a
combination thereof, in such amounts as will be sufficient, in the opinion of a nationally
recognized firm of independent public accountants, a nationally recognized investment bank
or a nationally recognized appraisal or valuation firm, to pay the principal of, or interest
and premium and Special Interest, if any, on the outstanding Notes on the Stated Maturity or
on the applicable redemption date, as the case may be, and the Company must specify whether
the Notes are being defeased to maturity or to a particular redemption date;

     (2) in the case of Legal Defeasance, the Company shall have deliver to the Trustee an
Opinion of Counsel reasonably acceptable to the Trustee confirming that, subject to
customary assumptions and exclusions:

     (A) the Company has received from, or there has been published by, the Internal
Revenue Service a ruling; or

     (B) since the date of this Indenture, there has been a change in the applicable
U.S. federal income tax law,

in either case to the effect that, and based thereon such Opinion of Counsel shall
confirm that, the Holders of the outstanding Notes will not recognize income, gain
or loss for U.S. federal income tax purposes as a result of such Legal Defeasance
and will be subject to U.S. federal income tax on the same amounts, in the same
manner and at the same times as would have been the case if such Legal Defeasance
had not occurred;

     (3) in the case of Covenant Defeasance, the Company shall have delivered to the Trustee
an Opinion of Counsel reasonably acceptable to the Trustee confirming that, subject to
customary assumptions and exclusions, the Holders of the outstanding Notes will not
recognize income, gain or loss for U.S. federal income tax purposes as a result of such
Covenant Defeasance and will be subject to U.S. federal income tax on the same amounts, in
the same manner and at the same times as would have been the case if such Covenant
Defeasance had not occurred;

     (4) no Default or Event of Default shall have occurred and be continuing on the date of
such deposit (other than a Default or Event of Default resulting from borrowing funds to be
applied to make the deposit required to effect such Legal Defeasance or Covenant Defeasance
and any similar and simultaneous deposit relating to other Indebtedness and, in each case,
the granting of Liens in connection therewith);

     (5) such Legal Defeasance or Covenant Defeasance will not result in a breach or
violation of, or constitute a default under, any material agreement or instrument (other
than this Indenture) to which the Company
or any of its Subsidiaries is a party or by which the
Company

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or any of its Subsidiaries is bound (other than that resulting with respect to any
Indebtedness being defeased from any borrowing of funds to be applied to make the deposit
required to effect such Legal Defeasance or Covenant Defeasance and any similar and
simultaneous deposit relating to such Indebtedness, and the granting of Liens in connection
therewith);

     (6) the Company must deliver to the Trustee an Officers’ Certificate stating that the
deposit was not made by the Company with the intent of preferring the Holders of Notes over
the other creditors of the Company with the intent of defeating, hindering, delaying or
defrauding any creditors of the Company or others;

     (7) if the Notes are to be redeemed prior to their Stated Maturity, the Company must
deliver to the Trustee irrevocable instructions to redeem all of the Notes on the specified
redemption date; and

     (8) the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent relating to the Legal Defeasance or the
Covenant Defeasance have been complied with.

Section 8.05 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous
Provisions.

     Subject to Section 8.06 hereof, all money and non-callable Government Securities (including
the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for
purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof in respect of the
outstanding Notes will be held in trust and applied by the Trustee, in accordance with the
provisions of such Notes and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders
of such Notes of all sums due and to become due thereon in respect of principal, premium, if any,
interest and Special Interest, if any, but such money need not be segregated from other funds
except to the extent required by law.

     The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on
or assessed against the cash or non-callable Government Securities deposited pursuant to Section
8.04 hereof or the principal and interest received in respect thereof other than any such tax, fee
or other charge which by law is for the account of the Holders of the outstanding Notes.

     Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay to
the Company from time to time upon the request of the Company any money or non-callable Government
Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally
recognized firm of independent public accountants, a nationally recognized investment bank or a
nationally recognized appraisal or valuation firm, expressed in a written certification thereof
delivered to the Trustee (which may be the opinion delivered under Section 8.04(1) hereof), are in
excess of the amount thereof that would then be required to be deposited to effect an equivalent
Legal Defeasance or Covenant Defeasance.

     The Collateral will be released from the Lien securing the Notes upon a Legal Defeasance or
Covenant Defeasance in accordance with the provisions of this Article 8.

Section 8.06 Repayment to Company.

     Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of, premium on, if any, interest or Special Interest, if
any, on, any

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Note and remaining unclaimed for two years after such principal, premium, if any,
interest or Special Interest, if any, has become due and payable shall be paid to the Company on
its request or (if then held by the Company) will be discharged from such trust; and the Holder of
such Note will thereafter be permitted to look only to the Company for payment thereof, and all
liability of the Trustee or such Paying Agent with respect to such trust money, and all liability
of the Company as trustee thereof, will thereupon cease.

Section 8.07 Reinstatement.

     If the Trustee or Paying Agent is unable to apply any U.S. dollars or non-callable Government
Securities in accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason of any
order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the Company’s and the Guarantors’ obligations under this
Indenture and the Notes and the Note Guarantees will be revived and reinstated as though no deposit
had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent
is permitted to apply all such money in accordance with Section 8.02 or 8.03 hereof, as the case
may be; provided, however, that, if the Company makes any payment of principal of, premium on, if
any, interest or Special Interest, if any, on, any Note following the reinstatement of its
obligations, the Company will be subrogated to the rights of the Holders of such Notes to receive
such payment from the money held by the Trustee or Paying Agent.

ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER

Section 9.01 Without Consent of Holders of Notes.

     Notwithstanding Section 9.02 hereof, without notice to or the consent of any Holder of Notes,
the Company, the Guarantors and the Trustee may amend or supplement this Indenture, the Notes or
the Note Guarantees or the Security Documents:

     (1) to cure any ambiguity, omission, mistake, defect or inconsistency;

     (2) to provide for uncertificated Notes in addition to or in place of certificated
Notes;

     (3) to provide for the assumption of the Company’s or a Guarantor’s obligations to the
Holders of the Notes and Note Guarantees by a successor to the Company or such Guarantor
pursuant to Article 5 or Article 10 hereof;

     (4) to make any change that would provide any additional rights or benefits to the
Holders of the Notes or that does not adversely affect the legal rights hereunder of any
Holder in any material respect;

     (5) to comply with requirements of the SEC in order to effect or maintain the
qualification of this Indenture under the TIA;

     (6) to comply with Section 4.17 hereof;

     (7) to conform the text of this Indenture, the Notes, the Note Guarantees or any
Security Document to any provision of the “Description of Notes” section of the Offering
Circular, to the extent that such provision in that “Description of Notes” was intended to
be a verbatim recitation of a provision of this Indenture, the Notes, the Note Guarantees or
any Security Document, which intent may be evidenced by an Officers’ Certificate to that
effect;

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     (8) to evidence and provide for the acceptance of appointment by a successor Trustee,
provided that the successor Trustee is otherwise qualified and eligible to act as such under
the terms of this Indenture, or evidence and provide for a successor or replacement
Collateral Trustee under the Security Documents;

     (9) to provide for the issuance of Additional Notes (and the grant of security for the
benefit of the Additional Notes) in accordance with the terms of this Indenture and the
Collateral Trust Agreement;

     (10) to make, complete or confirm any grant of Collateral permitted or required by this
Indenture or any of the Security Documents or any release, termination or discharge of
Collateral that becomes effective as set forth in this Indenture or any of the Security
Documents;

     (11) to grant any Lien for the benefit of the Holders of any future Subordinated Lien
Debt or any present or future Priority Lien Debt in accordance with the terms of this
Indenture and the Collateral Trust Agreement;

     (12) to add additional secured parties to the extent Liens securing obligations held by
such parties are permitted under this Indenture;

     (13) to mortgage, pledge, hypothecate or grant a security interest in favor of the
collateral agent for the benefit of the Trustee and the Holders of the Notes as additional
security for the payment and performance of the Company’s and any Guarantor’s obligations
under this Indenture, in any property, or assets, including any of which are required to be
mortgaged, pledged or hypothecated, or in which a security interest is required to be
granted to the Trustee or the Collateral Trustee in accordance with the terms of this
Indenture or otherwise;

     (14) to provide for the succession of any parties to the Security Documents (and other
amendments that are administrative or ministerial in nature) in connection with an
amendment, renewal, extension, substitution, refinancing, restructuring, replacement,
supplementing or other modification from time to time of any agreement in accordance with
the terms of this Indenture and the relevant Security Document;

     (15) to provide for a reduction in the minimum denominations of the Notes;

     (16) to add a Guarantor or other guarantor under this Indenture or release a Guarantor
in accordance with the terms of this Indenture;

     (17) to add covenants for the benefit of the Holders or surrender any right or power
conferred upon the Company or any Guarantor;

     (18) to make any amendment to the provisions of this Indenture relating to the transfer
and legending of Notes as permitted by this Indenture, including, without limitation, to
facilitate the issuance and administration of the Notes, provided that compliance with this
Indenture as so amended may not result in Notes being transferred in violation of the Securities Act or
any applicable securities laws;

     (19) to provide for the assumption by one or more successors of the obligations of any
of the Guarantors under this Indenture and the Note Guarantees;

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     (20) to provide for the issuance of Exchange Notes in accordance with the terms of this
Indenture; or

     (21) to comply with the rules of any applicable securities depositary.

     Upon the request of the Company accompanied by a resolution of the Company’s or Parent’s Board
of Directors authorizing the execution of any such amended or supplemental indenture, and upon
receipt by the Trustee of the documents set forth in Section 7.02 hereof, the Trustee will join
with the Company and the Guarantors in the execution of any amended or supplemental indenture
authorized or permitted by the terms of this Indenture and to make any further appropriate
agreements and stipulations that may be therein contained, but the Trustee will not be obligated to
enter into such amended or supplemental indenture that affects its own rights, duties or immunities
under this Indenture or otherwise.

Section 9.02 With Consent of Holders of Notes.

     Except as otherwise provided in this Section 9.02, the Company and the Trustee may amend or
supplement this Indenture (including, without limitation, Section 3.09, 4.10 and 4.14 hereof) and
the Notes, the Note Guarantees and the Security Documents relating to the Notes (subject to
compliance with the Intercreditor Agreement and the Collateral Trust Agreement) with the consent of
the Holders of at least a majority in aggregate principal amount of the then outstanding Notes
(including, without limitation, Additional Notes, if any) voting as a single class (including,
without limitation, consents obtained in connection with a tender offer or exchange offer for, or
purchase of, the Notes), and, subject to Sections 6.04 and 6.07 hereof, any existing Default or
Event of Default (other than a Default or Event of Default in the payment of the principal of,
premium on, if any, interest or Special Interest, if any, on, the Notes, except a payment default
resulting from an acceleration that has been rescinded) or compliance with any provision of this
Indenture or the Notes, the Note Guarantees or the Security Documents relating to the Notes may be
waived with the consent of the Holders of a majority in aggregate principal amount of the then
outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single
class (including, without limitation, consents obtained in connection with a tender offer or
exchange offer for, or purchase of, the Notes). Section 2.08 hereof shall determine which Notes
are considered to be “outstanding” for purposes of this Section 9.02.

     Upon the request of the Company accompanied by a resolution of the Company’s or Parent’s Board
of Directors authorizing the execution of any such amended or supplemental indenture, and upon the
filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of
Notes as aforesaid, and upon receipt by the Trustee of the documents set forth in Section 7.02
hereof, the Trustee will join with the Company and the Guarantors in the execution of such amended
or supplemental indenture unless such amended or supplemental indenture directly affects the
Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the
Trustee may in its discretion, but will not be obligated to, enter into such amended or
supplemental Indenture.

     It is not necessary for the consent of the Holders of Notes under this Indenture to approve
the particular form of any proposed amendment, supplement or waiver, but it is sufficient if such
consent approves the substance thereof.

     After an amendment, supplement or waiver under this Section 9.02 becomes effective, the
Company will mail to the Holders of Notes affected thereby a notice briefly describing the
amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect
therein, will not, however, in any way impair or affect the validity of any such amended or
supplemental indenture or waiver. Subject to Sections 6.04 and 6.07 hereof, the Holders of a
majority in aggregate principal amount of the Notes then outstanding voting as a single class may
waive compliance in a particular instance by

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the Company with any provision of this Indenture, the
Notes or the Note Guarantees. However, without the consent of each Holder affected, an amendment,
supplement or waiver under this Section 9.02 may not (with respect to any Notes held by a
non-consenting Holder):

     (1) reduce the percentage of the aggregate principal amount of Notes whose Holders must
consent to an amendment, supplement or waiver;

     (2) reduce the principal of or change the Stated Maturity of any Note or alter the
provisions, or waive any payment, with respect to the redemption of the Notes (except as
provided in the first paragraph of this Section 9.02 with respect to Sections 3.09, 4.10 and
4.14 hereof);

     (3) reduce the rate of or change the time for payment of interest, including default
interest, on any Note;

     (4) waive a Default or Event of Default in the payment of principal of, or interest or
premium, if any, or Special Interest, if any, on, the Notes (except a rescission of
acceleration of the Notes by the Holders of at least a majority in aggregate principal
amount of the then outstanding Notes and a waiver of the payment default that resulted from
such acceleration);

     (5) make any Note payable in money other than U.S. dollars;

     (6) make any change in the provisions of this Indenture relating to waivers of past
Defaults or the rights of Holders of Notes to receive payments of principal of, or interest
or premium, if any, or Special Interest, if any, on the Notes;

     (7) release any Guarantor from any of its obligations under its Note Guarantee or this
Indenture, except in accordance with the terms of this Indenture or the Note Guarantees;

     (8) impair the right of any Holder to institute suit for the enforcement of any payment
on or with respect to such Holder’s Notes or the Note Guarantees;

     (9) amend, change or modify the obligation of the Company to make and consummate an
Asset Sale Offer with respect to any Asset Sale in accordance with Section 4.10 after the
obligation to make such Asset Sale Offer has arisen, or the obligation of the Company to
make and consummate a Change of Control Offer in the event of a Change of Control in
accordance with Section 4.14 after such Change of Control has occurred, including, in each
case, amending, changing or modifying any definition relating thereto; or

     (10) make any change in the amendment and waiver provisions, except to increase any
such percentage required for such actions or to provide that certain other provisions of
this Indenture cannot be modified or waived without the consent of the Holder of each
outstanding Note affected thereby.

     Any amendment to, or waiver of, the provisions of this Indenture or any Security Document that
has the effect of releasing all or substantially all of the Collateral from the Liens securing the
Notes will require the consent of the Holders of at least 66 2/3% in aggregate principal amount of
the Notes then outstanding (but only to the extent any such consent is required under the
Collateral Trust Agreement).

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Section 9.03 Compliance with Trust Indenture Act.

     Upon and after the qualification of this Indenture under the TIA, every amendment or
supplement to this Indenture or the Notes will be set forth in an amended or supplemental indenture
that complies with the TIA as then in effect.

Section 9.04 Revocation and Effect of Consents.

     Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a
Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or
portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of
the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a
Note may revoke the consent as to its Note if the Trustee receives written notice of revocation
before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or
waiver becomes effective in accordance with its terms and thereafter binds every Holder.

     The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to consent to any amendment, supplement or waiver. If a record
date is fixed, then, notwithstanding the preceding paragraph, those Persons who were Holders at
such record date (or their duly designated proxies), and only such Persons, shall be entitled to
consent to such amendment, supplement or waiver or to revoke any consent previously given, whether
or not such Persons continue to be Holders after such record date. No such consent shall be valid
or effective for more than 120 days after such record date unless the consent of the requisite
number of Holders has been obtained.

Section 9.05 Notation on or Exchange of Notes.

     The Trustee may place an appropriate notation about an amendment, supplement or waiver on any
Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee
shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment,
supplement or waiver.

     Failure to make the appropriate notation or issue a new Note will not affect the validity and
effect of such amendment, supplement or waiver.

Section 9.06 Trustee to Sign Amendments, etc.

     The Trustee will sign any amended or supplemental indenture authorized pursuant to this
Article 9 if the amendment or supplement does not adversely affect the rights, duties, liabilities
or immunities of the Trustee. The Company may not sign an amended or supplemental indenture until
the Board of Directors of the Company or Parent approves it. In executing any amended or
supplemental indenture, the Trustee will be entitled to receive and (subject to Section 7.01
hereof) will be fully protected in relying upon, in addition to the documents required by Section
13.04 hereof, an Officers’ Certificate and an Opinion of Counsel stating that the execution of such
amended or supplemental indenture is authorized or permitted by this Indenture.

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ARTICLE 10

COLLATERAL AND SECURITY

Section 10.01 Equal and Ratable Sharing of Collateral by Holders of Priority Lien Debt.

     Notwithstanding: (1) anything to the contrary contained in the Security Documents; (2) the
time of incurrence of any Series of Priority Lien Debt; (3) the order or method of attachment or
perfection of any Lien securing any Series of Priority Lien Debt; (4) the time or order of filing
or recording of financing statements or other documents filed or recorded to perfect any Liens
securing any Series of Priority Lien Debt; (5) the time of taking possession or control over any
Collateral securing any Series of Priority Lien Debt; (6) that any Priority Lien may not have been
perfected or may be or have become subordinated, by equitable subordination or otherwise, to any
other Lien; or (7) the rules for determining priority under any law governing relative priorities
of Liens, all Priority Liens granted at any time by the Company or any Subsidiary Guarantor will
secure, equally and ratably, all present and future Priority Lien Obligations of the Company or
such Subsidiary Guarantor, as the case may be, as more fully specified in the Collateral Trust
Agreement.

     The foregoing provision is intended for the benefit of, and will be enforceable by, each
present and future holder of Priority Lien Obligations, each present and future Priority Lien
Representative and the Collateral Trustee, as holder of Priority Liens, in each case, as a party to
the Collateral Trust Agreement or as a third party beneficiary thereof.

Section 10.02 Ranking of Subordinated Liens.

     The Subordinated Lien Documents, if any, shall require that, notwithstanding: (1) anything to
the contrary contained in the Security Documents; (2) the time of incurrence of any Series of
Secured Debt; (3) the order or method of attachment or perfection of any Liens securing any Series
of Secured Debt; (4) the time or order of filing or recording of financing statements or other
documents filed or recorded to perfect any Lien upon any Collateral; (5) the time of taking
possession or control over any Collateral securing any series of Secured Debt; (6) that any
Priority Lien may not have been perfected or may be or have become subordinated, by equitable
subordination or otherwise, to any other Lien; or (7) the rules for determining priority under any
law governing relative priorities of Liens, all Subordinated Liens at any time granted by the
Company or any Subsidiary Guarantor will be subject and subordinate to all Priority Liens securing
all present and future Priority Lien Obligations of the Company or such Subsidiary Guarantor, as
the case may be, as more fully specified in the Collateral Trust Agreement.

     The Subordinated Lien Documents, if any, shall require that the foregoing provision is
intended for the benefit of, and will be enforceable by, each present and future holder of Priority
Lien Obligations, each present and future Priority Lien Representative and the Collateral Trustee
as holder of Priority Liens, in each case, as a party to the Collateral Trust Agreement or as a
third party beneficiary thereof.

Section 10.03 Release of Liens in Respect of Notes.

     The Collateral Trustee’s Liens upon the Collateral will no longer secure the Notes outstanding
under this Indenture or any other Obligations under this Indenture, and the right of the Holders of
the Notes and such Obligations to the benefits and proceeds of the Collateral Trustee’s Liens on
the Collateral will terminate and be discharged:

     (1) upon satisfaction and discharge of this Indenture as set forth under Article 12
hereof;

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     (2) upon a Legal Defeasance or Covenant Defeasance of the Notes as set forth under
Article 8 hereof;

     (3) upon payment in full and discharge of all Notes outstanding under this Indenture
and all Obligations that are outstanding, due and payable under this Indenture at the time
the Notes are paid in full and discharged;

     (4) in whole or in part, with the consent of the Holders of the requisite percentage of
Notes in accordance with Article 9 hereof; or

     (5) if and to the extent required by Section 5.1 of the Intercreditor Agreement.

Section 10.04 Relative Rights.

     Nothing in the Note Documents shall:

     (1) impair, as between the Company and the Holders of the Notes, the obligation of the
Company to pay principal, interest, premium, if any, or Special Interest, if any, on the
Notes in accordance with their terms or any other obligation of the Company or any Guarantor
under the Note Documents;

     (2) affect the relative rights of Holders of Notes as against any other creditors of
the Company or any Guarantor (other than as expressly specified in the Intercreditor
Agreement or the Collateral Trust Agreement);

     (3) restrict the right of any Holder of Notes to sue for payments that are then due and
owing (but not the right to enforce any judgment in respect thereof against any Collateral
to the extent specifically prohibited by the Intercreditor Agreement or the Collateral Trust
Agreement.

     (4) restrict or prevent any Holder of Notes or other Priority Lien Obligations, the
Trustee, the Collateral Trustee or any other person from exercising any of its rights or
remedies upon a Default or Event of Default not specifically restricted or prohibited by the
Intercreditor Agreement or the Collateral Trust Agreement; or

     (5) restrict or prevent any Holder of Notes or other Priority Lien Obligations, the
Trustee, the Collateral Trustee or any other person from taking any lawful action in an
Insolvency or Liquidation Proceeding not specifically restricted or prohibited by the
Intercreditor Agreement or the Collateral Trust Agreement.

Section 10.05 Compliance with Trust Indenture Act.

     Upon and after the qualification of this Indenture under the TIA, the Company shall comply
with the provisions of TIA §314.

     To the extent applicable, the Company shall cause TIA §313(b), relating to reports, and TIA
§314(d), relating to the release of property or securities or relating to the substitution therefor
of any property or securities subject to the Lien of the Security Documents, to be complied with.
Any certificate or opinion required by TIA §314(d) may be made by an Officer of the Company except
in cases where TIA §314(d) requires that such certificate or opinion be made by an independent
Person, which Person will be an independent engineer, appraiser or other expert selected by or
reasonably satisfactory to the Trustee. Notwithstanding anything to the contrary in this
paragraph, the Company will not be required to

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comply with all or any portion of TIA §314(d) if it determines, in good faith, that under the
terms of TIA §314(d) and/or any interpretation or guidance as to the meaning thereof of the SEC and
its staff, including “no action” letters or exemptive orders, all or any portion of TIA §314(d) is
inapplicable to released Collateral.

     The Company and each of the Subsidiary Guarantors may, subject to compliance with the
provisions of this Indenture, but without release or consent of the Trustee or the Collateral
Trustee or any holder of Priority Lien Obligations, conduct ordinary course activities with respect
to the Collateral.

Section 10.06 Collateral Trustee.

     (a) The Company has appointed U.S. Bank National Association to serve as the Collateral
Trustee for the benefit of the holders of:

     (1) the Notes;

     (2) all other Priority Lien Obligations outstanding from time to time; and

     (3) all Subordinated Lien Obligations outstanding from time to time, if any.

     (b) The Collateral Trustee will hold (directly or through co-trustees or agents), and will be
entitled to enforce on behalf of the holders of Priority Lien Obligations and Subordinated Lien
Obligations, if any, all Liens on the Collateral created by the Security Documents, subject to the
provisions of the Intercreditor Agreement and the Collateral Trust Agreement.

     (c) Except as provided in the Collateral Trust Agreement or as directed by an Act of Required
Debtholders in accordance with the Collateral Trust Agreement, the Collateral Trustee will not be
obligated:

     (1) to act upon directions purported to be delivered to it by any Person;

     (2) to foreclose upon or otherwise enforce any Lien; or

     (3) to take any other action whatsoever with regard to any or all of the Security
Documents, the Liens created thereby or the Collateral.

     (d) Each Holder hereby authorizes and directs the Trustee and Collateral Trustee to act
pursuant to the Security Documents.

Section 10.07 Further Assurances.

     The Company and each of the Subsidiary Guarantors shall do or cause to be done all acts and
things that may be reasonably required, or that the Collateral Trustee from time to time may
reasonably request, to assure and confirm that the Collateral Trustee holds, for the benefit of the
holders of Obligations under the Note Documents, duly created and enforceable and perfected Liens
upon the Collateral (including any property or assets that are acquired or otherwise become
Collateral after the Notes are issued), in each case, as and to the extent contemplated by, and
with the Lien priority required under, the Secured Debt Documents relating to the Notes.

Section 10.08 Insurance.

     (a) The Company and the Subsidiary Guarantors shall:

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     (1) keep their properties insured and maintain such general liability, automobile
liability, workers’ compensation / employers’ liability, property casualty insurance and any
excess umbrella coverage related to any of the foregoing as is customary for companies in
the same or similar businesses operating in the same or similar locations;

     (2) maintain such other insurance as may be required by law; and

     (3) maintain such other insurance as may be required by the Security Documents relating
to the Notes.

     (b) Upon the request of the Trustee or the Collateral Trustee, the Company and the Subsidiary
Guarantors shall furnish to the Trustee or Collateral Trustee full information as to their property
and liability insurance carriers. The Company shall (x) provide the Trustee and the Collateral
Trustee with notice of cancellation or modification with respect to its property and casualty
policies before the effective date of such cancellation or modification and (y) name the Trustee or
Collateral Trustee as a co-loss payee on property and casualty policies and as an additional
insured as its interests may appear on the liability policies listed in clause (1) of Section
10.08(a).

Section 10.09 Real Property.

     (a) The Company shall use commercially reasonable efforts to deliver to the Trustee within 90
days of the date of this Indenture, with respect to each real property asset owned by the Company
or any Guarantor listed on Exhibit G attached hereto (the “Initial Mortgaged Property”), the
following:

     (1) fully executed and notarized mortgages or deeds of trust (each, a “Mortgage”)
encumbering the fee interest of the Issuer or any of the Subsidiary Guarantors in each such
Initial Mortgaged Property, together with such UCC-1 financing statements or other fixture
filings as the Trustee shall reasonably deem appropriate with respect to such Mortgaged
Property;

     (2) evidence that counterparts of the Mortgage (and such other documents referenced in
clause (1) this Section 10.09(a)) for each Initial Mortgaged Property have been filed or
recorded (or are in form suitable for filing or recording) in all filing or recording
offices that the Trustee may deem reasonably necessary or desirable in order to create a
valid and subsisting Lien on the property described therein in favor of the Trustee;

     (3) a fully paid pro forma title insurance policy for each Initial Mortgaged Property,
which, upon the recording of the Mortgages, will insure the Mortgages to be valid and
subsisting Liens on the Mortgaged Property described therein, free and clear of all material
Liens, except Permitted Liens; and

     (4) a written opinion from local counsel in each state in which Mortgaged Property is
located with respect to the creation and perfection of the applicable Mortgage and any
related fixture filings, in customary form and substance and subject to customary
assumptions, limitations and qualifications, reasonably satisfactory to the Trustee.

     (b) Notwithstanding the foregoing in this Section 10.09, in no event shall the Company or any
Guarantor be required to take any action or deliver to the Trustee any agreement, instrument, title
insurance or opinion with respect to any Initial Mortgaged Property or After-Acquired Property
pursuant to this Indenture or any other Note Documents, if such agreement, instrument, title
insurance, opinion, document or action is more onerous on the Company or any Guarantor than the
analogous item received by the collateral agent for the term loan credit facility of the Company
(paid-off with the proceeds of the

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issuance and sale of the Notes) with respect to such Mortgaged Property. For the avoidance of
doubt, it will not be a default, Default or Event of Default, (x) if the Company or the relevant
Subsidiary Guarantor has not delivered to the Trustee the items described in clauses (1), (2), (3)
and (4) of clause (a) of this Section 10.09 with respect to any Initial Mortgaged Property within
ninety 90 days of the date of this Indenture after using commercially reasonable efforts, or (y) if
the Company or the relevant Subsidiary Guarantor has not delivered to the Trustee the items
described in clauses (1), (2), (3) and (4) of clause (a) of this Section 10.09 with respect to any
After-Acquired Property within ninety (90) days of the relevant date (June 30 or December 31 in
each year) specified in clause (c) of this Section 10.09 after using commercially reasonable
efforts.

     (c) Following the acquisition by the Company or any Subsidiary Guarantor of any fee interest
in real property that is not an Excluded Asset (each, an “After-Acquired Property”), the Company or
such Subsidiary Guarantor that owns such After-Acquired Property shall use commercially reasonable
efforts to execute and deliver to the Trustee on a semiannual basis (within 90 days after the end
of June 30 with respect to After-Acquired Property acquired between January 1 and June 30 of each
year and within 90 days after the end of December 31 with respect to After-Acquired Property
acquired between July 1 and December 31 of each year) a Mortgage and the other items set forth in
clauses (1), (2), (3) and (4) of clause (a) of this Section 10.09 relating to such After-Acquired
Property mutatis mutandis, and thereupon such After-Acquired Property shall be Collateral to the
extent purported to be subject to the Lien of any such Mortgage.

Section 10.10 Recording, Registration and Opinions. The Company shall furnish to the Trustee on or
within 120 days following the end of its fiscal year, commencing in 2010, an Opinion of Counsel
either (A) stating that, in the opinion of such counsel, such action has been taken with respect to
the recording, filing, re-recording and refiling of Liens under the Collateral Documents on the
Collateral as is necessary to maintain the perfection of such Liens, and reciting the details of
such action or (B) stating that, in the opinion of such counsel, no such action is necessary to
maintain the perfection of such Liens; provided, however, that in no event shall the Company be
obligated to furnish such opinion until after this Indenture has been qualified under the TIA.

ARTICLE 11

NOTE GUARANTEES

Section 11.01 Guarantee.

     (a) Subject to this Article 11, each of the Guarantors hereby, jointly and severally,
unconditionally guarantees to each Holder of a Note authenticated and delivered by the Trustee and
to the Trustee and its successors and assigns, irrespective of the validity and enforceability of
this Indenture, the Notes or the obligations of the Company hereunder or thereunder, that:

     (1) the principal of, premium on, if any, interest and Special Interest, if any, on,
the Notes will be promptly paid in full when due, whether at maturity, by acceleration,
redemption or otherwise, and interest on the overdue principal of, premium on, if any,
interest and Special Interest, if any, on, the Notes, if lawful, and all other obligations
of the Company to the Holders or the Trustee hereunder or thereunder will be promptly paid
in full or performed, all in accordance with the terms hereof and thereof; and

     (2) in case of any extension of time of payment or renewal of any Notes or any of such
other obligations, that same will be promptly paid in full when due or performed in
accordance with the terms of the extension or renewal, whether at stated maturity, by
acceleration or otherwise.

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     Failing payment when due of any amount so guaranteed or any performance so guaranteed for
whatever reason, the Guarantors will be jointly and severally obligated to pay the same
immediately. Each Guarantor agrees that this is a guarantee of payment and not a guarantee of
collection.

     (b) The Guarantors hereby agree that their obligations hereunder are unconditional,
irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the
absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with
respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any
action to enforce the same or any other circumstance which might otherwise constitute a legal or
equitable discharge or defense of a guarantor. Each Guarantor hereby waives diligence,
presentment, demand of payment, filing of claims with a court in the event of insolvency or
bankruptcy of the Company, any right to require a proceeding first against the Company, protest,
notice and all demands whatsoever and covenant that this Note Guarantee will not be discharged
except by complete performance of the obligations contained in the Notes and this Indenture.

     (c) If any Holder or the Trustee is required by any court or otherwise to return to the
Company, the Guarantors or any custodian, trustee, liquidator or other similar official acting in
relation to either the Company or the Guarantors, any amount paid by either to the Trustee or such
Holder, this Note Guarantee, to the extent theretofore discharged, will be reinstated in full force
and effect.

     (d) Each Guarantor agrees that it will not be entitled to any right of subrogation in relation
to the Holders in respect of any obligations guaranteed hereby until payment in full of all
obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors, on
the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the
obligations guaranteed hereby may be accelerated as provided in Article 6 hereof for the purposes
of this Note Guarantee, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed hereby, and (2) in the event of any
declaration of acceleration of such obligations as provided in Article 6 hereof, such obligations
(whether or not due and payable) will forthwith become due and payable by the Guarantors for the
purpose of this Note Guarantee. The Guarantors will have the right to seek contribution from any
non-paying Guarantor so long as the exercise of such right does not impair the rights of the
Holders under the Note Guarantee.

Section 11.02 Limitation on Guarantor Liability.

     Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the
intention of all such parties that the Note Guarantee of such Guarantor not constitute a fraudulent
transfer, fraudulent conveyance or fraudulent obligation for purposes of Bankruptcy Law, the
Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or
state law to the extent applicable to any Note Guarantee. To effectuate the foregoing intention,
the Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations of such
Guarantor will be limited to the maximum amount that will, after giving effect to such maximum
amount and all other contingent and fixed liabilities of such Guarantor that are relevant under
such laws, and after giving effect to any collections from, rights to receive contribution from or
payments made by or on behalf of any other Guarantor in respect of the obligations of such other
Guarantor under this Article 11, result in the obligations of such Guarantor under its Note
Guarantee not constituting a fraudulent transfer, fraudulent conveyance or fraudulent obligation.

Section 11.03 Execution and Delivery of Note Guarantee.

     To evidence its Note Guarantee set forth in Section 11.01 hereof, each Guarantor hereby agrees
that a notation of such Note Guarantee substantially in the form attached as Exhibit E hereto will
be

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endorsed by an Officer of such Guarantor on each Note authenticated and delivered by the
Trustee and that this Indenture will be executed on behalf of such Guarantor by one of its
Officers.

     Each Guarantor hereby agrees that its Note Guarantee set forth in Section 11.01 hereof will
remain in full force and effect notwithstanding any failure to endorse on each Note a notation of
such Note Guarantee.

     If an Officer whose signature is on this Indenture or on the Note Guarantee no longer holds
that office at the time the Trustee authenticates the Note on which a Note Guarantee is endorsed,
the Note Guarantee will be valid nevertheless.

     The delivery of any Note by the Trustee, after the authentication thereof hereunder, will
constitute due delivery of the Note Guarantee set forth in this Indenture on behalf of the
Guarantors.

Section 11.04 Guarantors May Consolidate, etc., on Certain Terms.

     (a) A Guarantor may not sell or otherwise dispose of all or substantially all of its assets
to, or consolidate with or merge with or into (whether or not such Guarantor is the surviving
Person), another Person, other than the Company or another Guarantor, unless:

     (1) immediately after giving effect to that transaction, no Default or Event of Default
exists; and

     (2) either:

     (A) the Person acquiring the property in any such sale or disposition or the
Person formed by or surviving any such consolidation or merger (if other than the
Guarantor) (i) is organized or existing under the laws of the United States, any
state thereof or the District of Columbia (provided that the provisions set forth in
this clause (i) shall not apply if such Guarantor is organized under the laws of a
jurisdiction other than the United States, any state thereof or the District of
Columbia) and (ii) assumes all the obligations of that Guarantor under this
Indenture, its Note Guarantee and the Registration Rights Agreement pursuant to a
supplemental indenture satisfactory to the Trustee; or

     (B) in the case of a Subsidiary Guarantor, such sale or other disposition or
consolidation or merger complies with Section 4.10 hereof.

     (b) In case of any such consolidation, merger, sale or conveyance and upon the assumption by
the successor Person, by supplemental indenture, executed and delivered to the Trustee and
satisfactory in form to the Trustee, of the Note Guarantee endorsed upon the Notes and the due and
punctual performance of all of the covenants and conditions of this Indenture to be performed by
the Guarantor, such successor Person will succeed to and be substituted for the Guarantor with the
same effect as if it had been named herein as a Guarantor. Such successor Person thereupon may
cause to be signed any or all of the Note Guarantees to be endorsed upon all of the Notes issuable
hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee.
All the Note Guarantees so issued will in all respects have the same legal rank and benefit under
this Indenture as the Note Guarantees theretofore and thereafter issued in accordance with the
terms of this Indenture as though all of such Note Guarantees had been issued at the date of the
execution hereof.

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     (c) Notwithstanding the foregoing, any Guarantor may (i) merge with the Company or a
Restricted Subsidiary of the Company solely for the purpose of reincorporating the Guarantor in the
United States, any state thereof, the District of Columbia or any territory thereof or (ii) convert
into a corporation, partnership, limited partnership, limited liability company or trust organized
under the laws of the jurisdiction of organization of such Guarantor, in each case without regard
to the requirements set forth in clause (1) of Section 11.04(a) hereof.

Section 11.05 Releases.

     (a) The Note Guarantee of Parent will automatically and unconditionally be released without
the need for any further action by any party upon written notice from the Company to the Trustee.
The Note Guarantee of a Subsidiary Guarantor will automatically and unconditionally be released
without the need for any action by any party:

     (1) in connection with any sale or other disposition of Capital Stock of a Subsidiary
Guarantor (including by way of consolidation or merger or otherwise) to a Person that is not
(either before or after giving effect to such transaction) a Subsidiary of the Company, such
that, immediately after giving effect to such transaction, such Guarantor would no longer
constitute a Subsidiary of the Company, if the sale of such Capital Stock of that Subsidiary
Guarantor complies with Section 4.07 and Section 4.10;

     (2) in connection with the merger or consolidation of a Subsidiary Guarantor with any
other Subsidiary Guarantor;

     (3) in the event of the release of the guarantee under the ABL Credit Facility of a
Subsidiary Guarantor that is not (A) a Wholly Owned Domestic Subsidiary or (B) a Restricted
Subsidiary that guarantees Indebtedness of the Company or any Subsidiary Guarantor;

     (4) if the Company properly designates any Restricted Subsidiary that is a Subsidiary
Guarantor as an Unrestricted Subsidiary under this Indenture;

     (5) upon the Legal Defeasance or Covenant Defeasance or satisfaction and discharge of
this Indenture;

     (6) solely in the case of a Note Guarantee created pursuant to Section 4.17(b), upon
the release or discharge of the Guarantee which resulted in the creation of such Note
Guarantee pursuant to Section 4.17(b), except a discharge or release by or as a result of
payment under such Guarantee; or

     (7) upon a liquidation or dissolution of a Subsidiary Guarantor permitted under this
Indenture.

     (b) The Note Guarantee of any Subsidiary Guarantor will be released in connection with a sale
of all of the assets of such Subsidiary Guarantor in a transaction that complies with the
conditions set forth in Section 11.04.

     (c) Notwithstanding any other provision in this Indenture, any Restricted Subsidiary of the
Company (including any Subsidiary Guarantor) may be liquidated at any time, so long as all assets
owned by such entity which constitute Collateral remain Collateral owned by the Company or a
Subsidiary Guarantor following any such liquidation.

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     (d) Any Guarantor not released from its obligations under its Note Guarantee as
provided in this Section 11.05 will remain liable for the full amount of principal of, premium on,
if any, interest and Special Interest, if any, on, the Notes and for the other obligations of any
Guarantor under this Indenture as provided in this Article 11.

ARTICLE 12

SATISFACTION AND DISCHARGE

Section 12.01 Satisfaction and Discharge.

     This Indenture will be discharged and will cease to be of further effect as to all Notes
issued hereunder, when:

     (1) either:

          (a) all Notes that have been authenticated (except lost, stolen or destroyed Notes
that have been replaced or paid and Notes for whose payment money has theretofore been
deposited in trust or segregated and held in trust by the Company and thereafter repaid to
the Company or discharged from such trust) have been delivered to the Trustee for
cancellation; or

          (b) all Notes that have not been delivered to the Trustee for cancellation have
become due and payable by reason of the making of a notice of redemption or otherwise, will
become due and payable within one year or are to be called for redemption within one year
under arrangements satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense, of the Company, and the Company or any Guarantor
has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust
solely for the benefit of the Holders, cash in U.S. dollars, non-callable Government
Securities, or a combination thereof, in such amounts as will be sufficient without
consideration of any reinvestment of interest, to pay and discharge the entire indebtedness
on the Notes not delivered to the Trustee for cancellation for principal, premium, if any,
and Special Interest, if any, and accrued interest to the date of maturity or redemption;

     (2) no Default or Event of Default shall have occurred and be continuing (other
than that resulting from borrowing funds to be applied to make such deposit and any similar
and simultaneous deposit relating to other Indebtedness and, in each case, the granting of
Liens in connection therewith) with respect to this Indenture and the Notes issued
thereunder on the date of such deposit or shall occur as a result of such deposit and such
deposit will not result in a breach or violation of, or constitute a default under, any
other material instrument to which the Company or any Guarantor is a party or by which the
Company or any Guarantor is bound (other than any such default resulting from any borrowing
of funds to be applied to make the deposit and any similar simultaneous deposit relating to
other Indebtedness, and the granting of Liens in connection therewith);

     (3) the Company or any Guarantor has paid or caused to be paid all sums payable by
it under this Indenture and not provided for by the deposit required by clause 1(b) above;
and

     (4) the Company has delivered irrevocable instructions to the Trustee under this
Indenture to apply the deposited money toward the payment of the Notes at maturity or the
redemption date, as the case may be.

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     In addition, the Company must deliver an Officers’ Certificate and an Opinion of Counsel to
the Trustee stating that all conditions precedent to satisfaction and discharge have been
satisfied.

     Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited
with the Trustee pursuant to subclause (b) of clause (1) of this Section 12.01, the provisions of
Sections 12.02 and 8.06 hereof will survive. In addition, nothing in this Section 12.01 will be
deemed to discharge those provisions of Section 7.07 hereof, that, by their terms, survive the
satisfaction and discharge of this Indenture.

Section 12.02 Application of Trust Money.

     Subject to the provisions of Section 8.06 hereof, all money deposited with the Trustee
pursuant to Section 12.01 hereof shall be held in trust and applied by it, in accordance with the
provisions of the Notes and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the
Persons entitled thereto, of the principal, premium, if any, interest and Special Interest, if any,
for whose payment such money has been deposited with the Trustee; but such money need not be
segregated from other funds except to the extent required by law.

     If the Trustee or Paying Agent is unable to apply any money or Government Securities in
accordance with Section 12.01 hereof by reason of any legal proceeding or by reason of any order or
judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting
such application, the Company’s and any Guarantor’s obligations under this Indenture and the Notes
shall be revived and reinstated as though no deposit had occurred pursuant to Section 12.01 hereof;
provided that if the Company has made any payment of principal of, premium on, if any, interest ,
if any, on, any Notes because of the reinstatement of its obligations, the Company shall be
subrogated to the rights of the Holders of such Notes to receive such payment from the money or
Government Securities held by the Trustee or Paying Agent.

ARTICLE 13

MISCELLANEOUS

Section 13.01 Trust Indenture Act Controls.

     If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by
TIA §318(c), the imposed duties will control.

Section 13.02 Notices.

     Any notice or communication by the Company, any Guarantor or the Trustee to the others is duly
given if in writing and delivered in Person or by first class mail (registered or certified, return
receipt requested), facsimile transmission or overnight air courier guaranteeing next day delivery,
to the others’ address:

120

 

If to the Company and/or any Guarantor:

McJunkin Red Man Corporation

2 Houston Center

909 Fannin, Suite 3100

Houston, Texas 77010

Telephone No.: (877) 294-7574

Facsimile No.: (713) 655-1477

Attention: Andrew Lane and Jim Underhill

with a copy to:

McJunkin Red Man Corporation

8023 East 63rd Place, Suite 800

Tulsa, Oklahoma 74133

Attention: Steve W. Lake

If to the Trustee:

U.S. Bank National Association

60 Livingston Avenue

EP-MN-WS3C

St. Paul, Minnesota 55107-2292

Telephone: (651) 495-3918

Fax: (651) 495-8097

McJunkin Administrator

     The Company, any Guarantor or the Trustee, by notice to the others, may designate additional
or different addresses for subsequent notices or communications.

     All notices and communications (other than those sent to Holders) will be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five Business Days after being
deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted
electronically or by facsimile; and the next Business Day after timely delivery to the courier, if
sent by overnight air courier guaranteeing next day delivery.

     Any notice or communication to a Holder will be mailed by first class mail, certified or
registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to
its address shown on the register kept by the Registrar. Any notice or communication will also be
so mailed to any Person described in TIA §313(c), to the extent required by the TIA, if applicable.
Failure to mail a notice or communication to a Holder or any defect in it will not affect its
sufficiency with respect to other Holders.

     If a notice or communication is mailed in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives it.

     If the Company mails a notice or communication to Holders, it will mail a copy to the Trustee
and each Agent at the same time.

121

 

Section 13.03 Communication by Holders of Notes with Other Holders of Notes.

     Holders may communicate pursuant to TIA §312(b) with other Holders with respect to their
rights under this Indenture or the Notes. The Company, the Trustee, the Registrar and anyone else
shall have the protection of TIA §312(c).

Section 13.04 Certificate and Opinion as to Conditions Precedent.

     Upon any request or application by the Company to the Trustee to take any action under this
Indenture, the Company shall furnish to the Trustee:

     (1) an Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee (which must include the statements set forth in Section 13.05 hereof) stating that,
in the opinion of the signers, all conditions precedent and covenants, if any, provided for
in this Indenture relating to the proposed action have been satisfied; and

     (2) an Opinion of Counsel in form and substance reasonably satisfactory to the
Trustee (which must include the statements set forth in Section 13.05 hereof) stating that,
in the opinion of such counsel, all such conditions precedent and covenants have been
satisfied.

Section 13.05 Statements Required in Certificate or Opinion.

     Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than a certificate provided pursuant to TIA §314(a)(4)) must comply
with the provisions of TIA §314(e) and must include:

     (1) a statement that the Person making such certificate or opinion has read such
covenant or condition;

     (2) a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or opinion
are based;

     (3) a statement that, in the opinion of such Person, he or she has made such
examination or investigation as is necessary to enable him or her to express an informed
opinion as to whether or not such covenant or condition has been satisfied; and

     (4) a statement as to whether or not, in the opinion of such Person, such condition
or covenant has been satisfied.

Section 13.06 Rules by Trustee and Agents.

     The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar
or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

Section 13.07 No Personal Liability of Directors, Officers, Employees, Incorporators and
Stockholders.

     No director, officer, employee, incorporator or stockholder of the Company or any Guarantor,
as such, or of Parent or any other direct or indirect parent of the Company, shall have any
liability for any obligations of the Company or the Guarantors under the Notes, this Indenture, the
Note Guarantees or the Note Documents 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

122

 

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.

Section 13.08 Governing Law.

     THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE,
THE NOTES AND THE NOTE GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF
LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED
THEREBY.

Section 13.09 No Adverse Interpretation of Other Agreements.

     This Indenture may not be used to interpret any other indenture, loan or debt agreement of the
Company or its Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may
not be used to interpret this Indenture.

Section 13.10 Successors.

     All agreements of the Company in this Indenture and the Notes will bind its successors. All
agreements of the Trustee in this Indenture will bind its successors. All agreements of each
Guarantor in this Indenture will bind its successors, except as otherwise provided in Section 11.05
hereof.

Section 13.11 Severability.

     In case any provision in this Indenture or in the Notes is invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions will not in any way be
affected or impaired thereby.

Section 13.12 Counterpart Originals.

     The parties may sign any number of copies of this Indenture. Each signed copy will be an
original, but all of them together represent the same agreement.

Section 13.13 Table of Contents, Headings, etc.

     The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be considered a part of
this Indenture and will in no way modify or restrict any of the terms or provisions hereof.

Section 13.14 Conflicts with Intercreditor Agreement or Collateral Trust Agreement.

     In the event of any conflict between the provisions of the Intercreditor Agreement or the
Collateral Trust Agreement and the provisions of this Indenture, the provisions of the
Intercreditor Agreement or the Collateral Trust Agreement shall govern and control.

[Signatures on following page]

123

 

SIGNATURES

Dated as of December 21, 2009

	 	 	 	 	 
	 	MCJUNKIN RED MAN CORPORATION

 	 
	 	By:  	/s/ Andrew Lane
 	 
	 	 	Name:  	Andrew Lane 	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 
	 	MCJUNKIN RED MAN HOLDING CORPORATION

 	 
	 	By:  	/s/ Andrew Lane
 	 
	 	 	Name:  	Andrew Lane 	 
	 	 	Title:  	President, Chief Executive Officer and

Chairman 	 
	 
	 	SUBSIDIARY GUARANTORS:

MCJUNKIN RED MAN DEVELOPMENT

      CORPORATION

MCJUNKIN NIGERIA LIMITED

MCJUNKIN-PUERTO RICO CORPORATION

MCJUNKIN-WEST AFRICA CORPORATION

MILTON OIL & GAS COMPANY

RUFFNER REALTY COMPANY

GREENBRIER PETROLEUM CORPORATION

MIDWAY-TRISTATE CORPORATION

MRC MANAGEMENT COMPANY

MRM OKLAHOMA MANAGEMENT LLC

LBPS HOLDING COMPANY

LABARGE PIPE & STEEL COMPANY

 	 
	 	By:  	/s/ Andrew Lane
 	 
	 	 	Name:  	Andrew Lane 	 
	 	 	Title:  	President and Chief Executive Officer 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION

 	 
	 	By:  	/s/
Richard Prokosch
 	 
	 	 	Name:  	Richard Prokosch 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

[Face of Note]

[Insert the Original Issue Discount Legend, if applicable pursuant to the provisions of the
Indenture]

CUSIP/CINS ____________

ISIN____________

9.50% Senior Secured Notes due 2016

			
	No. ___
	 	$____________

MCJUNKIN RED MAN CORPORATION

promises to pay to                      or registered assigns,

the principal sum of ________________________________________________________
DOLLARS, [, as revised by the Schedule of
Exchanges of Interest in the Global Note attached hereto,] on December 15, 2016.

Interest Payment Dates: June 15 and December 15

Record Dates: June 1 and December 1

Dated: _______________, 20__

	 	 	 	 	 
	 	MCJUNKIN RED MAN CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

This is one of the Notes referred to

in the within-mentioned Indenture:

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

     as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

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[Back of Note]

9.50% Senior Secured Notes due 2016

[Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture]

[Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture]

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

     (1) Interest. McJunkin Red Man Corporation, a West Virginia corporation (the
“Company”), promises to pay or cause to be paid interest on the principal amount of this
Note at 9.50% per annum from ________________, 20__ until maturity and shall pay the
Special Interest, if any, payable pursuant to the Registration Rights Agreement referred to
below. The Company will pay interest and Special Interest, if any, semi-annually in arrears
on June 15 and December 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 will
accrue from the most recent date to which interest has been paid or, if no interest has been
paid, from the date of issuance; provided that, 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 June 15, 2010. The Company will 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 the rate then in effect to the
extent lawful; it will pay interest (including post-petition interest in any proceeding
under any Bankruptcy Law) on overdue installments of interest and Special Interest, if any,
(without regard to any applicable grace periods) from time to time on demand at the same
rate to the extent lawful. Interest will be computed on the basis of a 360-day year
comprised of twelve 30-day months.

     (2) Method of Payment. The Company will pay interest on the Notes (except
defaulted interest) and Special Interest, if any, to the Persons who are registered Holders
of Notes at the close of business on the June 1 or December 1 next 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 2.12 of the Indenture with respect to
defaulted interest. The Notes will be payable as to principal, premium, interest and
Special Interest, if any, at the office or agency of the Paying Agent and Registrar within
the City and State of New York, or, at the option of the Company, payment of interest and
Special Interest, if any, may be made by check mailed to the Holders at their addresses set
forth in the register of Holders; provided that payment by wire transfer of immediately
available funds will be required with respect to principal of, premium on, if any, interest
and Special Interest, if any, on, all Global Notes and all other Notes the Holders of which
will have provided wire transfer instructions to the Company or the Paying Agent. Such
payment will 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, U.S. Bank National Association,
the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may
change the Paying Agent or Registrar without prior notice to the Holders of the Notes. The
Company or any of its Subsidiaries may act as Paying Agent or Registrar.

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     (4) Indenture. The Company issued the Notes under an Indenture dated as of
December 21, 2009 (the “Indenture”) among the Company, the Guarantors and the Trustee. The
terms of the Notes include those stated in the Indenture and, when the Indenture is
qualified under the TIA, those made part of the Indenture by reference to the TIA. The
Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA
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 Indenture does not limit the aggregate principal amount of Notes that may
be issued thereunder.

     (5) Optional Redemption.

               (a) At any time prior to December 15, 2012, the Company may, on any one or more
occasions, redeem up to 35% of the aggregate principal amount of Notes issued under the
Indenture (together with any Additional Notes) at a redemption price of 109.50% of the
principal amount thereof, plus accrued and unpaid interest and Special Interest (if any)
thereon to the applicable redemption date, with all or a portion of the net cash proceeds of
one or more Qualified Equity Offerings; provided that:

               (A) at least 65% of the aggregate principal amount of Notes issued under the
Indenture (including any Additional Notes) remains outstanding immediately after the
occurrence of such redemption (excluding Notes held by the Company and its
Subsidiaries); and

               (B) the redemption must occur within 90 days of the date of the closing of such
Qualified Equity Offering.

               (b) At any time prior to December 15, 2012, the Company may, on any one or more
occasions, redeem all or a part of the Notes, upon not less than 15 nor more than 60 days’
notice, at a redemption price equal to 100% of the principal amount of the Notes redeemed,
plus the Applicable Premium as of, and accrued and unpaid interest and Special Interest (if
any) to, the date of redemption, subject to the rights of Holders of Notes on the relevant
record date to receive interest due on the relevant interest payment date.

               (c) Except pursuant to the two preceding paragraphs, the Notes will not be redeemable
at the Company’s option prior to December 15, 2012.

               (d) On or after December 15, 2012, the Company may redeem all or a part of the Notes
upon not less than 15 nor more than 60 days’ notice, at the redemption prices (expressed as
percentages of principal amount) set forth below plus accrued and unpaid interest and
Special Interest, if any, thereon, to the applicable redemption date, if redeemed during the
12-month period beginning on December 15 of the years indicated below, subject to the rights
of Holders of Notes on the relevant record date to receive interest on the relevant interest
payment date:

	 	 	 	 	 
	Year	 	Percentage	 
	2012
	 	 	107.125	%
	2013
	 	 	104.750	%
	2014
	 	 	102.375	%
	2015 and thereafter
	 	 	100.000	%

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Unless the Company defaults in the payment of the redemption price, interest will cease to
accrue on the Notes or portions thereof called for redemption on the applicable redemption
date.

     (6) Mandatory Redemption. The Company is not required to make mandatory
redemption or sinking fund payments with respect to the Notes.

     (7) Repurchase at the Option of Holder.

               (a) If there is a Change of Control, the Company will be required to make an offer (a
“Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or
an integral multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase price
in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid
interest and Special Interest, if any, thereon to the date of purchase, subject to the
rights of Holders on the relevant record date to receive interest due on the relevant
interest payment date (the “Change of Control Payment”). Within 30 days following any
Change of Control (or prior to the Change of Control if a definitive agreement is in place
for the Change of Control), the Company will send a notice to each Holder setting forth the
procedures governing the Change of Control Offer as required by the Indenture.

               (b) If the Company or a Restricted Subsidiary of the Company consummates any Asset
Sales, within ten Business Days of each date on which the aggregate amount of Excess
Proceeds exceeds $35.0 million, the Company will make an Asset Sale Offer to all Holders of
Notes and all holders of Priority Lien Debt containing provisions similar to those set forth
in the Indenture with respect to offers to purchase with the proceeds of sales of assets in
accordance with the Indenture to purchase the maximum principal amount of Notes and such
other Priority Lien Debt that may be purchased out of the Excess Proceeds. The offer price
in any Asset Sale Offer will be equal to 100% of the principal amount, plus accrued and
unpaid interest and Special Interest, if any, to the date of purchase, subject to the rights
of Holders of Notes on the relevant record date to receive interest due on the relevant
interest payment date, and will be payable in cash. If any Excess Proceeds remain after
consummation of an Asset Sale Offer, the Company may use those Excess Proceeds for any
purpose not otherwise prohibited by the Indenture. If the aggregate principal amount of
Notes and other Priority Lien Debt tendered in such Asset Sale Offer exceeds the amount of
Excess Proceeds, the Trustee will select the Notes and such other Priority Lien Debt to be
purchased on a pro rata basis, based on the amounts tendered. Upon completion of each Asset
Sale Offer, the amount of Excess Proceeds will be reset at zero. The Company may satisfy
the foregoing obligation with respect to any Net Proceeds prior to the expiration of the
relevant 365 day period (as such period may be extended in accordance with the Indenture) or
with respect to Excess Proceeds of $35.0 million or less Holders of Notes that are the
subject of an offer to purchase will receive an Asset Sale Offer from the Company prior to
any related purchase date and may elect to have such Notes purchased by completing the form
entitled “Option of Holder to Elect Purchase” attached to the Notes.

     (8) Notice of Redemption. At least 15 days but not more than 60 days before a
redemption date, the Company will send electronically, mail, or cause to be mailed, by first
class mail, or provide in accordance with the procedures of the Depositary a notice of
redemption to each Holder whose Notes are to be redeemed at its registered address, except
that redemption notices may be mailed more than 60 days prior to a redemption date if the
notice is issued in connection with a defeasance of the Notes or a satisfaction and
discharge of the Indenture pursuant to Articles 8 or 12 thereof. Notes and portions of
Notes selected will be in amounts of $2,000 or whole multiples of $1,000 in excess thereof;
except that if all of the Notes of a Holder

A1-4

 

are to be redeemed or purchased, the entire outstanding amount of Notes held by such
Holder shall be redeemed or purchased. Redemptions may be subject to one or more
conditions.

     (9) Denominations, Transfer, Exchange. The Notes are in registered form in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. 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 need not exchange or
register the transfer of any Note or portion of a Note selected for redemption, except for
the unredeemed portion of any Note being redeemed in part. Also, the Company need not
exchange or register the transfer of any Notes for a period of 15 days before a selection of
Notes to be redeemed or during the period between a record date and the next succeeding
Interest Payment Date.

     (10) Security. The Notes will be secured by the Collateral on the terms and
subject to the conditions set forth in the Indenture and the Security Documents. The
Collateral Agent holds the Collateral in trust for the benefit of the Trustee and the
Holders of the Notes pursuant to the Security Documents. Each Holder, by accepting this
Note, consents and agrees to the terms of the Security Documents (including the provisions
providing for the foreclosure and release of Collateral) as the same may be in effect or may
be amended from time to time in accordance with their terms and the Indenture and authorizes
and directs the Trustee and/or the Collateral Agent, as applicable, to enter into the
Security Documents, and to perform their respective obligations and exercise their
respective rights thereunder in accordance therewith.

     (11) Persons Deemed Owners. The registered Holder of a Note may be treated as
the owner of it for all purposes. Only registered Holders have rights under the Indenture.

     (12) Amendment, Supplement and Waiver. Subject to certain exceptions, the
Indenture, the Notes, the Note Guarantees or the Security Documents relating to the Notes
(subject to compliance with the Intercreditor Agreement and the Collateral Trust Agreement)
may be amended or supplemented with the consent of the Holders of at least a majority in
aggregate principal amount of the then outstanding Notes including Additional Notes, if any,
voting as a single class, and any existing Default or Event of Default or compliance with
any provision of the Indenture or the Notes, the Note Guarantees or the Security Documents
relating to the Notes may be waived with the consent of the Holders of a majority in
aggregate principal amount of the then outstanding Notes including Additional Notes, if any,
voting as a single class. Without the consent of any Holder of Notes, the Indenture, the
Notes, the Note Guarantees or the Security Documents relating to the Notes may be amended or
supplemented: (i) to cure any ambiguity, omission, mistake, defect or inconsistency; (ii)
to provide for uncertificated Notes in addition to or in place of certificated Notes; (iii)
to provide for the assumption of the Company’s or a Guarantor’s obligations to the Holders
of the Notes and Note Guarantees by a successor to the Company or such Guarantor pursuant to
Article 5 or Article 10 of the Indenture; (iv) to make any change that would provide any
additional rights or benefits to the Holders of the Notes or that does not adversely affect
the legal rights under the Indenture of any Holder in any material respect; (v) to comply
with requirements of the SEC in order to effect or maintain the qualification of the
Indenture under the TIA; (vi) to comply with Section 4.17 of the Indenture; (vii) to conform
the text of the Indenture, the Notes, the Note Guarantees or any Security Document to any
provision of the “Description of Notes” section of the Offering Circular, to the extent that
such provision in that “Description of Notes” was intended to be a verbatim recitation of a
provision of the Indenture, the Notes, the Note Guarantees or any Security Document, which
intent may be evidenced by an Officers’ Certificate to that effect; (viii) to evidence and
provide

A1-5

 

for the acceptance of appointment by a successor Trustee, provided that the successor
Trustee is otherwise qualified and eligible to act as such under the terms of the Indenture,
or evidence and provide for a successor or replacement Collateral Trustee under the Security
Documents; (ix) to provide for the issuance of Additional Notes (and the grant of security
for the benefit of the Additional Notes) in accordance with the terms of the Indenture and
the Collateral Trust Agreement; (x) to make, complete or confirm any grant of Collateral
permitted or required by the Indenture or any of the Security Documents or any release,
termination or discharge of Collateral that becomes effective as set forth in the Indenture
or any of the Security Documents; (xi) to grant any Lien for the benefit of the Holders of
any future Subordinated Lien Debt or any present or future Priority Lien Debt in accordance
with the terms of the Indenture and the Collateral Trust Agreement; (xii) to add additional
secured parties to the extent Liens securing obligations held by such parties are permitted
under the Indenture; (xiii) to mortgage, pledge, hypothecate or grant a security interest in
favor of the collateral agent for the benefit of the Trustee and the Holders of the Notes as
additional security for the payment and performance of the Company’s and any Guarantor’s
obligations under the Indenture, in any property, or assets, including any of which are
required to be mortgaged, pledged or hypothecated, or in which a security interest is
required to be granted to the Trustee or the Collateral Trustee in accordance with the terms
of the Indenture or otherwise; (xiv) to provide for the succession of any parties to the
Security Documents (and other amendments that are administrative or ministerial in nature)
in connection with an amendment, renewal, extension, substitution, refinancing,
restructuring, replacement, supplementing or other modification from time to time of any
agreement in accordance with the terms of the Indenture and the relevant Security Document;
(xv) to provide for a reduction in the minimum denominations of the Notes; (xvi) to add a
Guarantor or other guarantor under the Indenture or release a Guarantor in accordance with
the terms of the Indenture; (xvii) to add covenants for the benefit of the Holders or
surrender any right or power conferred upon the Company or any Guarantor; (xviii) to make
any amendment to the provisions of the Indenture relating to the transfer and legending of
Notes as permitted by the Indenture, including, without limitation, to facilitate the
issuance and administration of the Notes, provided that compliance with the Indenture as so
amended may not result in Notes being transferred in violation of the Securities Act or any
applicable securities laws; (xix) to provide for the assumption by one or more successors of
the obligations of any of the Guarantors under the Indenture and the Note Guarantees; (xx)
to provide for the issuance of Exchange Notes in accordance with the terms of the Indenture;
or (xxi) to comply with the rules of any applicable securities depositary.

     (13) Defaults and Remedies. Events of Default include: (i) default for 30
consecutive days in the payment when due of interest on, or Special Interest with respect
to, the Notes; (ii) default in payment when due (whether at maturity, upon acceleration,
redemption or otherwise) of the principal of, or premium, if any, on the Notes; (iii)
failure by the Company or any of its Restricted Subsidiaries to comply with the provisions
of Sections 4.10, 4.14, 5.01 or 11.04(a) of the Indenture for 30 days after written notice
by the Trustee or Holders representing 25% or more of the aggregate principal amount of
Notes outstanding; (iv) failure by the Company or any of its Restricted Subsidiaries for 60
days after written notice by the Trustee or Holders representing 25% or more of the
aggregate principal amount of Notes outstanding to comply with any of the agreements in the
Indenture or the Security Documents for the benefit of the Holders of the Notes other than
those referred to in the foregoing clauses (i) through (iii); (v) default under any
mortgage, indenture or instrument under which there is issued or by which there is secured
or evidenced any Indebtedness for money borrowed by the Company or any of the Company’s
Significant Subsidiaries (or any group of Restricted Subsidiaries of the Company that
together would constitute a Significant Subsidiary of the Company), or the payment of which
is guaranteed by the Company or any of the Company’s Significant Subsidiaries (or any group
of Restricted Subsidiaries of the Company that together would constitute a Significant
Subsidiary of

A1-6

 

the Company), whether such Indebtedness or Guarantee now exists, or is created after
the date of the Indenture, if that default (a) is caused by a Payment Default or (b) results
in the acceleration of such Indebtedness prior to its express maturity, and, in the case of
each of clauses (a) and (b), the principal amount of any such Indebtedness, together with
the principal amount of any other such Indebtedness under which there has been a Payment
Default or the maturity of which has been so accelerated, aggregates $50.0 million or more;
(vi) failure by the Company or any of the Company’s Significant Subsidiaries (or any group
of Restricted Subsidiaries of the Company that together would constitute a Significant
Subsidiary of the Company) to pay non-appealable final judgments aggregating in excess of
$50.0 million (excluding amounts covered by insurance provided by a carrier that has
acknowledged coverage and has the ability to perform), which judgments are not paid,
discharged or stayed for a period of more than 60 days after such judgments have become
final and non-appealable and, in the event such judgment is covered by insurance, an
enforcement proceeding has been commenced by any creditor upon such judgment or decree which
is not promptly stayed; (vii) the occurrence of any of the following: (a) any Security
Document for the benefit of Holders of the Notes is held in any judicial proceeding to be
unenforceable or invalid or ceases for any reason to be in full force and effect in any
material respect, other than in accordance with the terms of the relevant Security
Documents; or (b) except as permitted by the Indenture, any Priority Lien for the benefit of
Holders of the Notes purported to be granted under any Security Document for the benefit of
Holders of the Notes on Collateral, individually or in the aggregate, having a Fair Market
Value in excess of $50.0 million ceases to be an enforceable and perfected first-priority
Lien in any material respect, subject only to Permitted Prior Liens, and such condition
continues for 60 days after written notice by the Trustee or the Collateral Trustee of
failure to comply with such requirement; provided that it will not be an Event of Default
under this clause (b) if such condition results from the action or inaction of the Trustee
or the Collateral Trustee; or (c) the Company or any Significant Subsidiary that is a
Subsidiary Guarantor (or any such Subsidiary Guarantors that together would constitute a
Significant Subsidiary), or any Person acting on behalf of any of them, denies or
disaffirms, in writing, any material obligation of the Company or such Significant
Subsidiary that is a Guarantor (or such Subsidiary Guarantors that together constitute a
Significant Subsidiary) set forth in or arising under any Security Document for the benefit
of Holders of the Notes; (viii) except as permitted by the Indenture, any Note Guarantee of
a Subsidiary Guarantor that is a Significant Subsidiary of the Company (or any such
Subsidiary Guarantors that together would constitute a Significant Subsidiary) shall be held
in any judicial proceeding to be unenforceable or invalid or shall cease for any reason to
be in full force and effect in any material respect or any Guarantor, or any Person acting
on behalf of any Guarantor, shall deny or disaffirm in writing its obligations under its
Note Guarantee if, and only if, in each such case, such Default continues for 21 days after
notice of such Default shall have been given to the Trustee; and (ix) certain events of
bankruptcy or insolvency with respect to the Company or any Significant Subsidiary of the
Company (or any Restricted Subsidiaries of the Company that together would constitute a
Significant Subsidiary).

     (14) 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.

     (15) No Recourse Against Others. No director, officer, employee, incorporator
or stockholder of the Company or any Guarantor, as such, or of Parent or any other direct or
indirect parent of the Company, shall have any liability for any obligations of the Company
or the Guarantors under the Notes, the Indenture, the Note Guarantees or the Note Documents
or for any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder of

A1-7

 

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.

     (16) Guarantees. The Company’s obligations under the Notes are fully and
unconditionally guaranteed, jointly and severally, by the Guarantors.

     (17) Authentication. This Note will not be valid until authenticated by the
manual signature of the Trustee or an authenticating agent.

     (18) Abbreviations. Customary abbreviations may be used in the name of a
Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in
common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

     (19) Additional Rights of Holders of Restricted Global Notes and Restricted
Definitive Notes. In addition to the rights provided to Holders of Notes under the
Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes will have all
the rights set forth in the Registration Rights Agreement dated as of December 21, 2009,
among the Company, the Guarantors and the other parties named on the signature pages thereof
or, in the case of Additional Notes, Holders of Restricted Global Notes and Restricted
Definitive Notes will have the rights set forth in one or more registration rights
agreements, if any, among the Company, the Guarantors and the other parties thereto,
relating to rights given by the Company and the Guarantors to the purchasers of any
Additional Notes (collectively, the “Registration Rights Agreement”).

     (20) CUSIP and ISIN Numbers. Pursuant to a recommendation promulgated by the
Committee on Uniform Security Identification Procedures, the Company has caused CUSIP and
ISIN numbers to be printed on the Notes, and the Trustee may use CUSIP and ISIN 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.

     (21) GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND
BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES WITHOUT GIVING EFFECT
TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS
OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

     The Company will 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:

McJunkin Red Man Corporation

2 Houston Center, 909 Fannin, Suite 3100

Houston, Texas 77010

Attention: Steve W. Lake

A1-8

 

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).

A1-9

 

Option of Holder to Elect Purchase

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

	 	 	 

	¬Section 4.10

	 	¬Section 4.14

     If you want to elect to have only part of the Note purchased by the Company pursuant to
Section 4.10 or Section 4.14 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).

A1-10

 

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:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Principal Amount	 	 	 	 
	 	 	 	 	Amount of decrease	 	 	Amount of increase	 	 	of this Global Note	 	 	Signature of	 
	 	 	 	 	in Principal Amount	 	 	in Principal Amount	 	 	following such	 	 	authorized officer	 
	 	 	 	 	of	 	 	of	 	 	decrease	 	 	of Trustee or	 
	Date of Exchange	 	 	this Global Note	 	 	this Global Note	 	 	(or increase)	 	 	Custodian	 

A1-11

 

[Face of Regulation S Temporary Global Note]

[Insert the Original Issue Discount Legend, if applicable pursuant to the provisions of the Indenture]

CUSIP/CINS ____________

ISIN ____________

9.50% Senior Secured Notes due 2016

	 	 	 

	No. ___

	 	$__________

MCJUNKIN RED MAN CORPORATION

promises to pay to                or registered assigns,

the principal sum of _______________________________________________________ DOLLARS, as revised by the Schedule of Exchanges
of Interest in the Global Note attached hereto, on December 15, 2016.

Interest Payment Dates: June 15 and December 15

Record Dates: June 1 and December 1

Dated: _______________, 20__

	 	 	 	 	 
	 	MCJUNKIN RED MAN CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

A2-1

 

	 	 	 	 	 

[Back of Regulation S Temporary Global Note]

9.50% Senior Secured Notes due 2016

THE RIGHTS ATTACHING TO THIS REGULATION S TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES
GOVERNING ITS EXCHANGE FOR CERTIFICATED NOTES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED
HEREIN). NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS REGULATION S TEMPORARY GLOBAL NOTE
SHALL BE ENTITLED TO RECEIVE PAYMENT OF INTEREST HEREON.

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS
NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY
PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE
REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE
BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED
TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE
MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY
NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A
NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION
OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

THE NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933
(THE “SECURITIES ACT”) AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A)
(1) TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF
A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (2) IN AN
OFFSHORE TRANSACTION COMPLYING WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT,
(3) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144
THEREUNDER (IF AVAILABLE), (4) TO AN INSTITUTIONAL INVESTOR THAT IS AN ACCREDITED INVESTOR WITHIN
THE MEANING OF RULE 501 OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR (5)

A2-2

 

PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND (B) IN ACCORDANCE WITH
ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES AND OTHER JURISDICTIONS.

A2-3

 

[Back of Regulation S Temporary Global Note]

9.50% Senior Secured Notes due 2016

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

     (1) Interest. McJunkin Red Man Corporation, a West Virginia corporation (the
“Company"), promises to pay or cause to be paid interest on the principal amount of this
Note at 9.50% per annum from ________________, 20__ until maturity and shall pay the
Special Interest, if any, payable pursuant to the Registration Rights Agreement referred to
below. The Company will pay interest and Special Interest, if any, semi-annually in arrears
on June 15 and December 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 will
accrue from the most recent date to which interest has been paid or, if no interest has been
paid, from the date of issuance; provided that 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 June 15, 2010. The Company will 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 the rate then in effect to the
extent lawful; it will pay interest (including post-petition interest in any proceeding
under any Bankruptcy Law) on overdue installments of interest and Special Interest, if any,
(without regard to any applicable grace periods) from time to time on demand at the same
rate to the extent lawful. Interest will be computed on the basis of a 360-day year
comprised of twelve 30-day months.

     Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S
Permanent Global Notes, the Holder hereof shall not be entitled to receive payments of interest
hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other
respects be entitled to the same benefits as other Notes under the Indenture.

     (2) Method of Payment. The Company will pay interest on the Notes (except
defaulted interest) and Special Interest, if any, to the Persons who are registered Holders
of Notes at the close of business on the June 1 or December 1 next 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 2.12 of the Indenture with respect to
defaulted interest. The Notes will be payable as to principal, premium, interest and
Special Interest, if any, at the office or agency of the Paying Agent and Registrar within
the City and State of New York, or, at the option of the Company, payment of interest and
Special Interest, if any, may be made by check mailed to the Holders at their addresses set
forth in the register of Holders; provided that payment by wire transfer of immediately
available funds will be required with respect to principal of, premium on, if any, interest
and Special Interest, if any, on, all Global Notes and all other Notes the Holders of which
will have provided wire transfer instructions to the Company or the Paying Agent. Such
payment will 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, U.S. Bank National Association,
the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may
change the Paying Agent or Registrar without prior notice to the Holders of the Notes. The
Company or any of its Subsidiaries may act as Paying Agent or Registrar.

A2-4

 

     (4) Indenture. The Company issued the Notes under an Indenture dated as of
December 21, 2009 (the “Indenture”) among the Company, the Guarantors and the Trustee. The
terms of the Notes include those stated in the Indenture and, when the Indenture is
qualified under the TIA, those made part of the Indenture by reference to the TIA. The
Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA
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 Indenture does not limit the aggregate principal amount of Notes that may
be issued thereunder.

     (5) Optional Redemption.

          (a) At any time prior to December 15, 2012, the Company may, on any one or more
occasions, redeem up to 35% of the aggregate principal amount of Notes issued under the
Indenture (together with any Additional Notes) at a redemption price of 109.50% of the
principal amount thereof, plus accrued and unpaid interest and Special Interest (if any)
thereon to the applicable redemption date, with all or a portion of the net cash proceeds of
one or more Qualified Equity Offerings; provided that:

     (A) at least 65% of the aggregate principal amount of Notes issued under the
Indenture (including any Additional Notes) remains outstanding immediately after the
occurrence of such redemption (excluding Notes held by the Company and its
Subsidiaries); and

     (B) the redemption must occur within 90 days of the date of the closing of such
Qualified Equity Offering.

          (b) At any time prior to December 15, 2012, the Company may, on any one or more
occasions, redeem all or a part of the Notes, upon not less than 15 nor more than 60 days’
notice, at a redemption price equal to 100% of the principal amount of the Notes redeemed,
plus the Applicable Premium as of, and accrued and unpaid interest and Special Interest (if
any) to, the date of redemption, subject to the rights of Holders of Notes on the relevant
record date to receive interest due on the relevant interest payment date.

          (c) Except pursuant to the two preceding paragraphs, the Notes will not be
redeemable at the Company’s option prior to December 15, 2012.

          (d) On or after December 15, 2012, the Company may redeem all or a part of the Notes
upon not less than 15 nor more than 60 days’ notice, at the redemption prices (expressed as
percentages of principal amount) set forth below plus accrued and unpaid interest and
Special Interest, if any, thereon, to the applicable redemption date, if redeemed during the
12-month period beginning on December 15 of the years indicated below, subject to the rights
of Holders of Notes on the relevant record date to receive interest on the relevant interest
payment date:

	 	 	 	 	 
	Year	 	Percentage	 
	2012
	 	 	107.125	%
	2013
	 	 	104.750	%
	2014
	 	 	102.375	%
	2015 and thereafter
	 	 	100.000	%

Unless the Company defaults in the payment of the redemption price, interest will cease to
accrue on the Notes or portions thereof called for redemption on the applicable redemption
date.

A2-5

 

     (6) Mandatory Redemption. The Company is not required to make mandatory
redemption or sinking fund payments with respect to the Notes.

     (7) Repurchase at the Option of Holder.

          (a) If there is a Change of Control, the Company will be required to make an offer (a
“Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or
an integral multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase price
in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid
interest and Special Interest, if any, thereon to the date of purchase, subject to the
rights of Holders on the relevant record date to receive interest due on the relevant
interest payment date (the “Change of Control Payment”). Within 30 days following any
Change of Control (or prior to the Change of Control if a definitive agreement is in place
for the Change of Control), the Company will send a notice to each Holder setting forth the
procedures governing the Change of Control Offer as required by the Indenture.

          (b) If the Company or a Restricted Subsidiary of the Company consummates any Asset
Sales, within ten Business Days of each date on which the aggregate amount of Excess
Proceeds exceeds $35.0 million, the Company will make an Asset Sale Offer to all Holders of
Notes and all holders of Priority Lien Debt containing provisions similar to those set forth
in the Indenture with respect to offers to purchase with the proceeds of sales of assets in
accordance with the Indenture to purchase the maximum principal amount of Notes and such
other Priority Lien Debt that may be purchased out of the Excess Proceeds. The offer price
in any Asset Sale Offer will be equal to 100% of the principal amount, plus accrued and
unpaid interest and Special Interest, if any, to the date of purchase, subject to the rights
of Holders of Notes on the relevant record date to receive interest due on the relevant
interest payment date, and will be payable in cash. If any Excess Proceeds remain after
consummation of an Asset Sale Offer, the Company may use those Excess Proceeds for any
purpose not otherwise prohibited by the Indenture. If the aggregate principal amount of
Notes and other Priority Lien Debt tendered in such Asset Sale Offer exceeds the amount of
Excess Proceeds, the Trustee will select the Notes and such other Priority Lien Debt to be
purchased on a pro rata basis, based on the amounts tendered. Upon completion of each Asset
Sale Offer, the amount of Excess Proceeds will be reset at zero. The Company may satisfy
the foregoing obligation with respect to any Net Proceeds prior to the expiration of the
relevant 365 day period (as such period may be extended in accordance with the Indenture) or
with respect to Excess Proceeds of $35.0 million or less. Holders of Notes that are the
subject of an offer to purchase will receive an Asset Sale Offer from the Company prior to
any related purchase date and may elect to have such Notes purchased by completing the form
entitled “Option of Holder to Elect Purchase” attached to the Notes.

     (8) Notice of Redemption. At least 15 days but not more than 60 days before a
redemption date, the Company will send electronically, mail, or cause to be mailed, by first
class mail, or provide in accordance with the procedures of the Depositary a notice of
redemption to each Holder whose Notes are to be redeemed at its registered address, except
that redemption notices may be mailed more than 60 days prior to a redemption date if the
notice is issued in connection with a defeasance of the Notes or a satisfaction and
discharge of the Indenture pursuant to Articles 8 or 12 thereof. Notes and portions of
Notes selected will be in amounts of $2,000 or whole multiples of $1,000 in excess thereof;
except that if all of the Notes of a Holder are to be redeemed or purchased, the entire
outstanding amount of Notes held by such Holder shall be redeemed or purchased. Redemptions
may be subject to one or more conditions.

A2-6

 

     (9) Denominations, Transfer, Exchange. The Notes are in registered form in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. 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 need not exchange or
register the transfer of any Note or portion of a Note selected for redemption, except for
the unredeemed portion of any Note being redeemed in part. Also, the Company need not
exchange or register the transfer of any Notes for a period of 15 days before a selection of
Notes to be redeemed or during the period between a record date and the next succeeding
Interest Payment Date.

     This Regulation S Temporary Global Note is exchangeable in whole or in part for one or
more Global Notes only (i) on or after the termination of the 40-day distribution compliance
period (as defined in Regulation S) and (ii) upon presentation of certificates (accompanied
by an Opinion of Counsel, if applicable) required by Article 2 of the Indenture. Upon
exchange of this Regulation S Temporary Global Note for one or more Global Notes, the
Trustee shall cancel this Regulation S Temporary Global Note.

     (10) Security. The Notes will be secured by the Collateral on the terms and
subject to the conditions set forth in the Indenture and the Security Documents. The
Collateral Agent holds the Collateral in trust for the benefit of the Trustee and the
Holders of the Notes pursuant to the Security Documents. Each Holder, by accepting this
Note, consents and agrees to the terms of the Security Documents (including the provisions
providing for the foreclosure and release of Collateral) as the same may be in effect or may
be amended from time to time in accordance with their terms and the Indenture and authorizes
and directs the Trustee and/or the Collateral Agent, as applicable, to enter into the
Security Documents, and to perform their respective obligations and exercise their
respective rights thereunder in accordance therewith.

     (11) Persons Deemed Owners. The registered Holder of a Note may be treated as
the owner of it for all purposes. Only registered Holders have rights under the Indenture.

     (12) Amendment, Supplement and Waiver. Subject to certain exceptions, the
Indenture, the Notes, the Note Guarantees or the Security Documents relating to the Notes
(subject to compliance with the Intercreditor Agreement and Collateral Trust Agreement) may
be amended or supplemented with the consent of the Holders of at least a majority in
aggregate principal amount of the then outstanding Notes including Additional Notes, if any,
voting as a single class, and any existing Default or Event of Default or compliance with
any provision of the Indenture or the Notes, the Note Guarantees or the Security Documents
relating to the Notes (subject to compliance with the Intercreditor Agreement and Collateral
Trust Agreement) may be waived with the consent of the Holders of a majority in aggregate
principal amount of the then outstanding Notes including Additional Notes, if any, voting as
a single class. Without the consent of any Holder of Notes, the Indenture, the Notes, the
Note Guarantees or the Security Documents relating to the Notes (subject to compliance with
the Intercreditor Agreement and Collateral Trust Agreement) may be amended or supplemented:
(i) to cure any ambiguity, omission, mistake, defect or inconsistency; (ii) to provide for
uncertificated Notes in addition to or in place of certificated Notes; (iii) to provide for
the assumption of the Company’s or a Guarantor’s obligations to the Holders of the Notes and
Note Guarantees by a successor to the Company or such Guarantor pursuant to Article 5 or
Article 10 of the Indenture; (iv) to make any change that would provide any additional
rights or benefits to the Holders of the Notes or that does not adversely affect the legal
rights under the Indenture of any Holder in any material respect; (v) to comply with
requirements of the SEC in order to effect or maintain the

A2-7

 

qualification of the Indenture under the TIA; (vi) to comply with Section 4.17 of the
Indenture; (vii) to conform the text of the Indenture, the Notes, the Note Guarantees or any
Security Document to any provision of the “Description of Notes” section of the Offering
Circular, to the extent that such provision in that “Description of Notes” was intended to
be a verbatim recitation of a provision of the Indenture, the Notes, the Note Guarantees or
any Security Document, which intent may be evidenced by an Officers’ Certificate to that
effect; (viii) to evidence and provide for the acceptance of appointment by a successor
Trustee, provided that the successor Trustee is otherwise qualified and eligible to act as
such under the terms of the Indenture, or evidence and provide for a successor or
replacement Collateral Trustee under the Security Documents; (ix) to provide for the
issuance of Additional Notes (and the grant of security for the benefit of the Additional
Notes) in accordance with the terms of the Indenture and the Collateral Trust Agreement; (x)
to make, complete or confirm any grant of Collateral permitted or required by the Indenture
or any of the Security Documents or any release, termination or discharge of Collateral that
becomes effective as set forth in the Indenture or any of the Security Documents; (xi) to
grant any Lien for the benefit of the Holders of any future Subordinated Lien Debt or any
present or future Priority Lien Debt in accordance with the terms of the Indenture and the
Collateral Trust Agreement; (xii) to add additional secured parties to the extent Liens
securing obligations held by such parties are permitted under the Indenture; (xiii) to
mortgage, pledge, hypothecate or grant a security interest in favor of the collateral agent
for the benefit of the Trustee and the Holders of the Notes as additional security for the
payment and performance of the Company’s and any Guarantor’s obligations under the
Indenture, in any property, or assets, including any of which are required to be mortgaged,
pledged or hypothecated, or in which a security interest is required to be granted to the
Trustee or the Collateral Trustee in accordance with the terms of the Indenture or
otherwise; (xiv) to provide for the succession of any parties to the Security Documents (and
other amendments that are administrative or ministerial in nature) in connection with an
amendment, renewal, extension, substitution, refinancing, restructuring, replacement,
supplementing or other modification from time to time of any agreement in accordance with
the terms of the Indenture and the relevant Security Document; (xv) to provide for a
reduction in the minimum denominations of the Notes; (xvi) to add a Guarantor or other
guarantor under the Indenture or release a Guarantor in accordance with the terms of the
Indenture; (xvii) to add covenants for the benefit of the Holders or surrender any right or
power conferred upon the Company or any Guarantor; (xviii) to make any amendment to the
provisions of the Indenture relating to the transfer and legending of Notes as permitted by
the Indenture, including, without limitation, to facilitate the issuance and administration
of the Notes, provided that compliance with the Indenture as so amended may not result in
Notes being transferred in violation of the Securities Act or any applicable securities
laws; (xix) to provide for the assumption by one or more successors of the obligations of
any of the Guarantors under the Indenture and the Note Guarantees; (xx) to provide for the
issuance of Exchange Notes in accordance with the terms of the Indenture; or (xxi) to comply
with the rules of any applicable securities depositary.

     (13) Defaults and Remedies. Events of Default include: (i) default for 30
consecutive days in the payment when due of interest on, or Special Interest with respect
to, the Notes; (ii) default in payment when due (whether at maturity, upon acceleration,
redemption or otherwise) of the principal of, or premium, if any, on the Notes; (iii)
failure by the Company or any of its Restricted Subsidiaries to comply with the provisions
of Sections 4.10, 4.14, 5.01 or 11.04(a) of the Indenture for 30 days after written notice
by the Trustee or Holders representing 25% or more of the aggregate principal amount of
Notes outstanding; (iv) failure by the Company or any of its Restricted Subsidiaries for 60
days after written notice by the Trustee or Holders representing 25% or more of the
aggregate principal amount of Notes outstanding to comply with any of the agreements in the
Indenture or the Security Documents for the benefit of the Holders of the Notes other than
those referred to in the foregoing clauses (i) through (iii); (v) default

A2-8

 

under any mortgage, indenture or instrument under which there is issued or by which
there is secured or evidenced any Indebtedness for money borrowed by the Company or any of
the Company’s Significant Subsidiaries (or any group of Restricted Subsidiaries of the
Company that together would constitute a Significant Subsidiary of the Company), or the
payment of which is guaranteed by the Company or any of the Company’s Significant
Subsidiaries (or any group of Restricted Subsidiaries of the Company that together would
constitute a Significant Subsidiary of the Company), whether such Indebtedness or Guarantee
now exists, or is created after the date of the Indenture, if that default (a) is caused by
a Payment Default or (b) results in the acceleration of such Indebtedness prior to its
express maturity, and, in the case of each of clauses (a) and (b), the principal amount of
any such Indebtedness, together with the principal amount of any other such Indebtedness
under which there has been a Payment Default or the maturity of which has been so
accelerated, aggregates $50.0 million or more; (vi) failure by the Company or any of the
Company’s Significant Subsidiaries (or any group of Restricted Subsidiaries of the Company
that together would constitute a Significant Subsidiary of the Company) to pay
non-appealable final judgments aggregating in excess of $50.0 million (excluding amounts
covered by insurance provided by a carrier that has acknowledged coverage and has the
ability to perform), which judgments are not paid, discharged or stayed for a period of more
than 60 days after such judgments have become final and non-appealable and, in the event
such judgment is covered by insurance, an enforcement proceeding has been commenced by any
creditor upon such judgment or decree which is not promptly stayed; (vii) the occurrence of
any of the following: (a) any Security Document for the benefit of Holders of the Notes is
held in any judicial proceeding to be unenforceable or invalid or ceases for any reason to
be in full force and effect in any material respect, other than in accordance with the terms
of the relevant Security Documents; or (b) except as permitted by the Indenture, any
Priority Lien for the benefit of Holders of the Notes purported to be granted under any
Security Document for the benefit of Holders of the Notes on Collateral, individually or in
the aggregate, having a Fair Market Value in excess of $50.0 million ceases to be an
enforceable and perfected first-priority Lien in any material respect, subject only to
Permitted Prior Liens, and such condition continues for 60 days after written notice by the
Trustee or the Collateral Trustee of failure to comply with such requirement; provided that
it will not be an Event of Default under this clause (b) if such condition results from the
action or inaction of the Trustee or the Collateral Trustee; or (c) the Company or any
Significant Subsidiary that is a Subsidiary Guarantor (or any such Subsidiary Guarantors
that together would constitute a Significant Subsidiary), or any Person acting on behalf of
any of them, denies or disaffirms, in writing, any material obligation of the Company or
such Significant Subsidiary that is a Guarantor (or such Subsidiary Guarantors that together
constitute a Significant Subsidiary) set forth in or arising under any Security Document for
the benefit of Holders of the Notes; (viii) except as permitted by the Indenture, any Note
Guarantee of a Subsidiary Guarantor that is a Significant Subsidiary of the Company (or any
such Subsidiary Guarantors that together would constitute a Significant Subsidiary) shall be
held in any judicial proceeding to be unenforceable or invalid or shall cease for any reason
to be in full force and effect in any material respect or any Guarantor, or any Person
acting on behalf of any Guarantor, shall deny or disaffirm in writing its obligations under
its Note Guarantee if, and only if, in each such case, such Default continues for 21 days
after notice of such Default shall have been given to the Trustee; and (ix) certain events
of bankruptcy or insolvency with respect to the Company or any Significant Subsidiary of the
Company (or any Restricted Subsidiaries of the Company that together would constitute a
Significant Subsidiary).

     (14) 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.

A2-9

 

     (15) No Recourse Against Others. No director, officer, employee, incorporator
or stockholder of the Company or any Guarantor, as such, or of Parent or any other direct or
indirect parent of the Company, shall have any liability for any obligations of the Company
or the Guarantors under the Notes, the Indenture, the Note Guarantees or the Note Documents
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.

     (16) Guarantees. The Company’s obligations under the Notes are fully and
unconditionally guaranteed, jointly and severally, by the Guarantors.

     (17) Authentication. This Note will not be valid until authenticated by the
manual signature of the Trustee or an authenticating agent.

     (18) Abbreviations. Customary abbreviations may be used in the name of a
Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in
common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

     (19) Additional Rights of Holders. In addition to the rights provided to
Holders of Notes under the Indenture, Holders of this Regulation S Temporary Global Note
will have all the rights set forth in the Registration Rights Agreement dated as of December
21, 2009, among the Company, the Guarantors and the other parties named on the signature
pages thereof or, in the case of Additional Notes, Holders of this Regulation S Temporary
Global Note will have the rights set forth in one or more registration rights agreements, if
any, among the Company, the Guarantors and the other parties thereto, relating to rights
given by the Company and the Guarantors to the purchasers of any Additional Notes
(collectively, the “Registration Rights Agreement”).

     (20) CUSIP and ISIN Numbers. Pursuant to a recommendation promulgated by the
Committee on Uniform Security Identification Procedures, the Company has caused CUSIP and
ISIN numbers to be printed on the Notes, and the Trustee may use CUSIP and ISIN 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.

     (21) GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND
BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES WITHOUT GIVING EFFECT
TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS
OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

     The Company will 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:

McJunkin Red Man Corporation

2 Houston Center, 909 Fannin, Suite 3100

Houston, Texas 77010

Attention: Steve W. Lake

A2-10

 

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).

A2-11

 

Option of Holder to Elect Purchase

     If you want to elect to have this Note purchased by the Company pursuant to Section 4.10
or 4.14 of the Indenture, check the appropriate box below:

¬Section 4.10                                          ¬Section 4.14

     If you want to elect to have only part of the Note purchased by the Company pursuant to
Section 4.10 or Section 4.14 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).

A2-12

 

Schedule of Exchanges of Interests in the Regulation S Temporary Global Note

     The following exchanges of a part of this Regulation S Temporary Global Note for an
interest in another Global Note, or exchanges of a part of another other Restricted Global Note for
an interest in this Regulation S Temporary Global Note, have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount	 	 
	 	 	Amount of decrease	 	Amount of increase	 	of this Global Note	 	Signature of
	 	 	in Principal Amount	 	in Principal Amount	 	following such	 	authorized officer
	 	 	of	 	of	 	decrease	 	of Trustee or
	Date of Exchange	 	this Global Note	 	this Global Note	 	(or increase)	 	Custodian
	 
	 	 
	 	 
	 	 
	 	 

A2-13

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