Document:

exv10w9

 

Exhibit
10.9

 

Execution Copy

Second Lien Loan Agreement

Dated as of June 6, 2006

among

TRM CORPORATION,

TRM ATM CORPORATION,

and

TRM COPY CENTERS (USA) CORPORATION,

as Borrowers

THE SUBSIDIARIES OF THE BORROWERS IDENTIFIED HEREIN,

as the Guarantors,

WELLS FARGO FOOTHILL, INC.

as Administrative Agent,

and

THE OTHER LENDERS PARTY HERETO

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	ARTICLE I DEFINITIONS AND ACCOUNTING TERMS	 	 	1	 
	 
	 	1.01	 	 Defined Terms	 	 	1	 
	 
	 	1.02	 	 Other Interpretive Provisions	 	 	22	 
	 
	 	1.03	 	 Accounting Terms	 	 	23	 
	 
	 	1.04	 	 Times of Day	 	 	24	 
	 
	 	1.05	 	 Rounding	 	 	24	 
	ARTICLE II THE COMMITMENTS AND CREDIT EXTENSIONS	 	 	24	 
	 
	 	2.01	 	 The Term Loan	 	 	24	 
	 
	 	2.02	 	 Conversions and Continuations of Loans	 	 	25	 
	 
	 	2.03	 	 Reserved	 	 	25	 
	 
	 	2.05	 	 Prepayments	 	 	26	 
	 
	 	2.06	 	 Reserved	 	 	27	 
	 
	 	2.07	 	 Repayment of Loans	 	 	27	 
	 
	 	2.08	 	 Interest	 	 	27	 
	 
	 	2.09	 	 Fees	 	 	28	 
	 
	 	2.10	 	 Computation of Interest and Fees	 	 	28	 
	 
	 	2.11	 	 Evidence of Debt	 	 	28	 
	 
	 	2.12	 	 Payments Generally; Administrative
Agent’s Clawback	 	 	29	 
	 
	 	2.13	 	 Sharing of Payments by Lenders	 	 	29	 
	ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY	 	 	32	 
	 
	 	3.01	 	 Taxes	 	 	32	 
	 
	 	3.02	 	 Illegality	 	 	34	 
	 
	 	3.03	 	 Inability to Determine Rates	 	 	34	 
	 
	 	3.04	 	 Increased Costs	 	 	34	 
	 
	 	3.05	 	 Compensation for Losses	 	 	36	 
	 
	 	3.06	 	 Mitigation Obligations; Replacement of Lenders	 	 	36	 
	 
	 	3.07	 	 Survival	 	 	37	 
	ARTICLE IV GUARANTY	 	 	37	 
	 
	 	4.01	 	 The Guaranty	 	 	37	 
	 
	 	4.02	 	 Obligations Unconditional	 	 	37	 
	 
	 	4.03	 	 Reinstatement	 	 	38	 
	 
	 	4.04	 	 Certain Waivers	 	 	39	 
	 
	 	4.05	 	 Remedies	 	 	39	 
	 
	 	4.06	 	 Rights of Contribution	 	 	39	 
	 
	 	4.07	 	 Guaranty of Payment; Continuing Guarantee	 	 	39	 
	ARTICLE V CONDITIONS PRECEDENT TO CREDIT EXTENSIONS	 	 	40	 
	 
	 	5.01	 	 Conditions of Initial Funding of the Term Loan	 	 	40	 
	ARTICLE VI REPRESENTATIONS AND WARRANTIES	 	 	43	 
	 
	 	6.01	 	 Existence, Qualification and Power	 	 	43	 
	 
	 	6.02	 	 Authorization; No Contravention	 	 	43	 
	 
	 	6.03	 	 Governmental Authorization; Other Consents	 	 	43	 
	 
	 	6.04	 	 Binding Effect	 	 	43	 
	 
	 	6.05	 	 Financial Statements; No Material Adverse Effect	 	 	44	 

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	 	6.06	 	 Litigation	 	 	45	 
	 
	 	6.07	 	 No Default	 	 	45	 
	 
	 	6.08	 	 Ownership of Property; Liens	 	 	45	 
	 
	 	6.09	 	 Environmental Compliance	 	 	45	 
	 
	 	6.10	 	 Insurance	 	 	46	 
	 
	 	6.11	 	 Taxes	 	 	46	 
	 
	 	6.12	 	 ERISA Compliance	 	 	46	 
	 
	 	6.13	 	 Subsidiaries	 	 	47	 
	 
	 	6.14	 	 Margin Regulations; Investment Company Act	 	 	47	 
	 
	 	6.15	 	 Disclosure; Material Contracts	 	 	47	 
	 
	 	6.16	 	 Compliance with Laws	 	 	48	 
	 
	 	6.17	 	 Intellectual Property; Licenses, Etc	 	 	48	 
	 
	 	6.18	 	 Solvency	 	 	48	 
	 
	 	6.19	 	 Perfection of Security Interests in the Collateral	 	 	48	 
	 
	 	6.20	 	 Business Locations	 	 	48	 
	 
	 	6.21	 	 Labor Matters	 	 	49	 
	ARTICLE VII AFFIRMATIVE COVENANTS	 	 	49	 
	 
	 	7.01	 	 Financial Statements	 	 	49	 
	 
	 	7.02	 	 Certificates; Other Information	 	 	50	 
	 
	 	7.03	 	 Notices	 	 	51	 
	 
	 	7.04	 	 Payment of Obligations	 	 	52	 
	 
	 	7.05	 	 Preservation of Existence, Etc	 	 	52	 
	 
	 	7.06	 	 Maintenance of Properties	 	 	52	 
	 
	 	7.07	 	 Maintenance of Insurance	 	 	53	 
	 
	 	7.08	 	 Compliance with Laws	 	 	53	 
	 
	 	7.09	 	 Books and Records	 	 	53	 
	 
	 	7.10	 	 Inspection Rights	 	 	53	 
	 
	 	7.11	 	 Use of Proceeds	 	 	54	 
	 
	 	7.12	 	 Additional Subsidiaries	 	 	54	 
	 
	 	7.13	 	 ERISA Compliance	 	 	54	 
	 
	 	7.14	 	 Pledged Assets	 	 	54	 
	 
	 	7.15	 	 Reserved	 	 	55	 
	 
	 	7.16	 	 Dormant Subsidiaries	 	 	55	 
	 
	 	7.17	 	 Miscellaneous Assurances	 	 	55	 
	ARTICLE VIII NEGATIVE COVENANTS	 	 	56	 
	 
	 	8.01	 	 Liens	 	 	56	 
	 
	 	8.02	 	 Investments	 	 	57	 
	 
	 	8.03	 	 Indebtedness	 	 	58	 
	 
	 	8.04	 	 Fundamental Changes	 	 	59	 
	 
	 	8.05	 	 Dispositions	 	 	59	 
	 
	 	8.06	 	 Restricted Payments	 	 	60	 
	 
	 	8.07	 	 Change in Nature of Business	 	 	60	 
	 
	 	8.08	 	 Transactions with Affiliates and Insiders	 	 	60	 
	 
	 	8.09	 	 Burdensome Agreements	 	 	60	 
	 
	 	8.10	 	 Use of Proceeds	 	 	61	 
	 
	 	8.11	 	 Financial Covenants	 	 	61	 

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	 	8.12	 	 Prepayment of Other Indebtedness, Etc	 	 	62	 
	 
	 	8.13	 	 Organization Documents; Fiscal Year; Legal Name, State of Formation and Form of Enity 	 	 	62	 
	 
	 	8.14	 	 Ownership of Subsidiaries	 	 	63	 
	 
	 	8.15	 	 Capital Expenditures	 	 	63	 
	ARTICLE IX EVENTS OF DEFAULT AND REMEDIES	 	 	63	 
	 
	 	9.01	 	 Events of Default	 	 	63	 
	 
	 	9.02	 	 Remedies Upon Event of Default	 	 	66	 
	 
	 	9.03	 	 Application of Funds	 	 	66	 
	ARTICLE X ADMINISTRATIVE AGENT	 	 	67	 
	 
	 	10.01	 	 Appointment and Authority	 	 	67	 
	 
	 	10.02	 	 Rights as a Lender	 	 	67	 
	 
	 	10.03	 	 Exculpatory Provisions	 	 	67	 
	 
	 	10.04	 	 Reliance by Administrative Agent	 	 	68	 
	 
	 	10.05	 	 Delegation of Duties	 	 	68	 
	 
	 	10.06	 	 Resignation of Administrative Agent	 	 	69	 
	 
	 	10.07	 	 Non-Reliance on Administrative Agent and Other Lenders	 	 	69	 
	 
	 	10.08	 	 No Other Duties; Etc	 	 	69	 
	 
	 	10.09	 	 Administrative Agent May File Proofs of Claim	 	 	69	 
	 
	 	10.10	 	 Collateral and Guaranty Matters	 	 	70	 
	ARTICLE XI MISCELLANEOUS	 	 	71	 
	 
	 	11.01	 	 Amendments, Etc	 	 	71	 
	 
	 	11.02	 	 Notices and Other Communications; Facsimile Copies	 	 	72	 
	 
	 	11.03	 	 No Waiver; Cumulative Remedies	 	 	74	 
	 
	 	11.04	 	 Expenses; Indemnity; and Damage Waiver	 	 	74	 
	 
	 	11.05	 	 Payments Set Aside	 	 	76	 
	 
	 	11.06	 	 Successors and Assigns	 	 	76	 
	 
	 	11.07	 	 Treatment of Certain Information; Confidentiality	 	 	78	 
	 
	 	11.08	 	 Set-off	 	 	79	 
	 
	 	11.09	 	 Interest Rate Limitation	 	 	79	 
	 
	 	11.10	 	 Counterparts; Integration; Effectiveness	 	 	79	 
	 
	 	11.11	 	 Survival of Representations and Warranties	 	 	80	 
	 
	 	11.12	 	 Severability	 	 	80	 
	 
	 	11.13	 	 Replacement of Lenders	 	 	80	 
	 
	 	11.14	 	 Governing Law; Jurisdiction; Etc	 	 	82	 
	 
	 	11.15	 	 Waiver of Right to Trial by Jury	 	 	83	 
	 
	 	11.16	 	 USA PATRIOT Act Notice	 	 	83	 

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	SCHEDULES	 	 	 	 
	 	 		 	 
	 
	 	2.01	 	 	Commitments and Applicable Percentages	 	 	 	 
	 
	 	6.10	 	 	Insurance	 	 	 	 
	 
	 	6.13	 	 	Subsidiaries	 	 	 	 
	 
	 	6.15	 	 	Material Contracts	 	 	 	 
	 
	 	6.17	 	 	IP Rights	 	 	 	 
	 
	 	6.20	(a)	 	Locations of Real Property	 	 	 	 
	 
	 	6.20	(b)	 	Locations of Tangible Personal Property	 	 	 	 
	 
	 	6.20	(c)	 	Location of Chief Executive Office, Etc.	 	 	 	 
	 
	 	6.20	(d)	 	Changes in Legal Name, State of Formation and Structure	 	 	 	 
	 
	 	8.01	 	 	Liens Existing on the Closing Date	 	 	 	 
	 
	 	8.02	 	 	Investments Existing on the Closing Date	 	 	 	 
	 
	 	8.03	 	 	Indebtedness Existing on the Closing Date	 	 	 	 
	 
	 	11.02	 	 	Certain Addresses for Notices	 	 	 	 
	 	 		 	 
	EXHIBITS	 	 	 	 
	 	 		 	 
	 
	 	2.11	(a)	 	Form of Note	 	 	 	 
	 
	 	7.02	 	 	Form of Compliance Certificate	 	 	 	 
	 
	 	7.12	 	 	Form of Joinder Agreement	 	 	 	 
	 
	 	11.06	 	 	Form of Assignment and Assumption	 	 	 	 

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SECOND LIEN LOAN AGREEMENT

     This SECOND LIEN LOAN AGREEMENT is entered into as of June 6, 2006 by and among TRM
CORPORATION, an Oregon corporation (“TRM”), TRM ATM CORPORATION, an Oregon corporation
(“TRM ATM”), TRM COPY CENTERS (USA) CORPORATION, an Oregon corporation (“TRM CC”;
together with TRM and TRM ATM, and as more precisely defined below, the “Borrowers”), the
Guarantors (defined herein), GSO ORIGINATION FUNDING PARTNERS LP, a Delaware limited partnership
(the “GSO Fund”), the other Lenders (defined herein) and WELLS FARGO FOOTHILL, INC., a
California corporation, (individually “WFF”), as Administrative Agent.

     The Borrowers have requested that the Lenders provide a $40,000,000 term loan to Borrowers for
the purposes set forth herein, and the Lenders are willing to do so on the terms and conditions set
forth herein.

     In consideration of the mutual covenants and agreements herein contained, the parties hereto
covenant and agree as follows:

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

	1.01	 	Defined Terms.

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

     “Acquisition”, by any Person, means the acquisition by such Person, in a single
transaction or in a series of related transactions, of (i) all or any substantial portion of the
Property of another Person, (ii) assets of another Person that constitute a division or business
unit or (iii) at least a majority of the Voting Stock of another Person, in each case whether or
not involving a merger or consolidation with such other Person and whether for cash, property,
services, assumption of Indebtedness, securities or otherwise.

     “Administrative Agent” means WFF in its capacity as administrative agent under any of
the Loan Documents, or any successor administrative agent.

     “Administrative Agent’s Account” means the Deposit Account of Administrative Agent
identified on Schedule 1.01-A.

     “Administrative Agent’s Office” means, with respect to any currency, the
Administrative Agent’s address and, as appropriate, account as set forth on Schedule 11.02,
with respect to such currency, or such other address or account with respect to such currency as
the Administrative Agent may from time to time notify to Borrower Representative and the Lenders.

     “Affiliate” means, with respect to any 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.

     “Agreement” means this Second Lien Loan Agreement.

     “Applicable Margin” means seven percent (7.00%).

 

 

     “Applicable Percentage” means with respect to any Lender at any time, (a) with respect
to such Lender’s portion of the outstanding Term Loan at any time, the percentage (carried out to
the ninth decimal place) of the outstanding principal amount of the Term Loan held by such Lender
at such time and (b) with respect to all other matters as to a particular Lender, the percentage
obtained by dividing (i) such Lender’s outstanding principal amount of such Lender’s portion of the
Term Loan, by (ii) the aggregate amount of the outstanding principal amount of the Term Loan. The
initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on
Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a
party hereto, as applicable.

     “Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an
Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a
Lender.

     “Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an Eligible Assignee (with the consent of any party whose consent is required by
Section 11.06(b)), and accepted by the Administrative Agent, in substantially the form of
Exhibit 11.06 or any other form approved by the Administrative Agent (including, in the
case of the initial assignments of portions of Term Loan by the GSO Fund, one or more master
assignment and assumption agreements to effect assignments to multiple assignees substantially on
the terms of the form of Assignment and Assumption set forth in Exhibit 11.06).

     “ATM” means an automated teller machine or cash dispensing machine and shall include
all “ATM”s as defined in the US Vault Cash Agreement and “ABM”s as defined in the CAN Vault Cash
Agreement.

     “Attributable Indebtedness” means, on any date, (a) in respect of any Capital Lease of
any Person, the capitalized amount thereof that would appear on a balance sheet of such Person
prepared as of such date in accordance with GAAP, (b) in respect of any Synthetic Lease, the
capitalized amount of the remaining lease payments under the relevant lease that would appear on a
balance sheet of such Person prepared as of such date in accordance with GAAP if such lease were
accounted for as a Capital Lease, and (c) in respect of any Securitization Transaction of any
Person, the outstanding principal amount of such financing, after taking into account reserve
accounts and making appropriate adjustments, determined by the Administrative Agent in its
reasonable judgment.

     “Audited Financial Statements” means the audited consolidated balance sheet of TRM and
its Subsidiaries (including, without limitation, the UK Loan Parties) for the fiscal year ended
December 31, 2005, and the related consolidated statements of income or operations, shareholders’
equity and cash flows for such fiscal year of TRM and its Subsidiaries, including the notes
thereto.

     “Authorized Person” means any of the chief executive officer, chief financial officer
or treasurer of Borrower Representative.

     “Base Rate” means, the rate of interest announced, from time to time, within Wells
Fargo at its principal office in San Francisco as its “prime rate”, with the understanding that the
“prime rate” is one of Wells Fargo’s base rates (not necessarily the lowest of such rates) and
serves as the basis upon which effective rates of interest are calculated for those loans making
reference thereto and is evidenced by the recording thereof after its announcement in such internal
publications as Wells Fargo may designate.

     “Base Rate Loan” means a Loan that bears interest based on the Base Rate. All Base
Rate Loans shall be denominated in Dollars.

     “Borrower Representative” is defined in Section 2.14 hereof

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     “Borrowers” means TRM, TRM ATM and TRM CC, on a joint and several basis, and
“Borrower” means any one of them.

     “Borrowing” means a borrowing consisting of simultaneous Loans having the same
Interest Period made by the Lenders pursuant to Section 2.01.

     “Business Day” means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the Laws of, or are in fact closed in, the state
where the Administrative Agent’s Office is located and if such day relates to any interest rate
settings as to a Eurocurrency Rate Loan, any fundings, disbursements, settlements and payments in
Dollars in respect of any such Eurocurrency Rate Loan, or any other dealings in Dollars to be
carried out pursuant to this Agreement in respect of any such Eurocurrency Rate Loan, means any
such day on which dealings in deposits in Dollars are conducted by and between banks in the London
interbank eurodollar market.

     “Businesses” means, at any time, a collective reference to the businesses operated by
TRM and its Subsidiaries at such time.

     “CAN Vault Cash Agreement” means that certain Cash Funding & ABM Services Agreement,
Contract No. 495-250-724 dated as of January 18, 2002 by and among, inter alia, eFunds (Canada)
Corporation f/k/a Access Cash Canada Co. and Securicor Canada Limited, as from time to time
amended, supplemented or otherwise modified and in effect, and as assigned by eFunds (Canada)
Corporation to TRM (Canada) Corporation on November 19, 2004 and consented to by Securicor on
November 17, 2004.

     “Canadian Security Agreement” means that certain Canadian Security and Pledge
Agreement dated the Closing Date executed in favor of the Administrative Agent by each of TRM
(Canada) Corporation and Mighty Cash Financial Services Inc.

     “Capital Lease” means, as applied to any Person, any lease of any Property by that
Person as lessee which, in accordance with GAAP, is required to be accounted for as a capital lease
on the balance sheet of that Person.

     “Cash Collateralize” means to deposit, into a securities account or a deposit account
under the control and exclusive dominion of and otherwise pledged to Administrative Agent for the
benefit of the Lenders, an amount of cash equal to, unless otherwise specified, the amount of the
liability or obligation being secured.

     “Cash Equivalents” means, as at any date, (1) with respect to TRM or any of its
Subsidiaries: (a) securities issued or directly and fully guaranteed or insured by the United
States 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 twelve months from
the date of acquisition, (b) Dollar denominated time deposits and certificates of deposit of (i)
any Lender, (ii) any domestic commercial bank of recognized standing having capital and surplus in
excess of $500,000,000 or (iii) any bank whose short-term commercial paper rating from S&P is at
least A-1 or the equivalent thereof or from Moody’s is at least P-1 or the equivalent thereof (any
such bank being an “Approved Bank”), in each case with maturities of not more than 270 days
from the date of acquisition, (c) commercial paper and variable or fixed rate notes issued by any
Approved Bank (or by the parent company thereof) or any variable rate notes issued by, or
guaranteed by, any domestic corporation rated A-1 (or the equivalent thereof) or better by S&P or
P-1 (or the equivalent thereof) or better by Moody’s and maturing within six months of the date of
acquisition, (d) repurchase agreements entered into by any Person with a bank or trust company
(including any of the Lenders) or

3

 

recognized securities dealer having capital and surplus in excess of $500,000,000 for direct
obligations issued by or fully guaranteed by the United States in which such Person shall have a
perfected first priority security interest (subject to no other Liens) and having, on the date of
purchase thereof, a fair market value of at least 100% of the amount of the repurchase obligations
and (e) Investments, classified in accordance with GAAP as current assets, in money market
investment programs registered under the Investment Company Act of 1940 which are administered by
reputable financial institutions having capital of at least $500,000,000 and the portfolios of
which are limited to Investments of the character described in the foregoing subdivisions (a)
through (d) and (2) with respect to any Foreign Subsidiary of TRM: (a) obligations of the national
government of the country in which such Foreign Subsidiary maintains its chief executive office and
principal place of business provided such country is a member of the Organization for Economic
Cooperation and Development, in each case maturing within one year after the date of investment
therein, (b) certificates of deposit of, bankers acceptances of, or time deposits with, any
commercial bank which is organized and existing under the laws of the country in which such Foreign
Subsidiary maintains its chief executive office and principal place of business provided such
country is a member of the Organization for Economic Cooperation and Development, and whose
short-term commercial paper rating from S&P is at least A-1 or the equivalent thereof or from
Moody’s is at least P-1 or the equivalent thereof (any such bank being an “Approved Foreign
Bank”), and in each case with maturities of not more than 270 days from the date of acquisition
and (c) the equivalent of demand deposit accounts which are maintained with an Approved Foreign
Bank.

     “Change in Law” means the occurrence, after the date of this Agreement, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change
in any law, rule, regulation or treaty or in the administration, interpretation or application
thereof by any Governmental Authority or (c) the making or issuance of any request (other than
requests, the compliance with which is of a purely voluntary nature and which could not reasonably
be expected to result in Material Adverse Effect if not complied with), guideline or directive
(whether or not having the force of law) by any Governmental Authority.

     “Change of Control” means an event or series of events by which:

     (a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or
its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other
fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in
Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or
group shall be deemed to have “beneficial ownership” of all Equity Interests that such
person or group has the right to acquire (such right, an “option right”), whether
such right is exercisable immediately or only after the passage of time), directly or
indirectly, of thirty-five (35%) of the Equity Interests of TRM entitled to vote for
members of the board of directors or equivalent governing body of TRM on a fully diluted
basis (and taking into account all such securities that such person or group has the right
to acquire pursuant to any option right);

     (b) during any period of 24 consecutive months, a majority of the members of the board
of directors or other equivalent governing body of TRM cease to be composed of individuals
(i) who were members of that board or equivalent governing body on the first day of such
period, (ii) whose election or nomination to that board or equivalent governing body was
approved by individuals referred to in clause (i) above constituting at the time of such
election or nomination at least a majority of that board or equivalent governing body or
(iii) whose election or nomination to that board or other equivalent governing body was
approved by individuals referred to in clauses (i) and (ii) above constituting at the time
of such election or nomination at least a majority of that board or equivalent governing
body (excluding, in the case of both clause

4

 

(ii) and clause (iii), any individual whose initial nomination for, or assumption of
office as, a member of that board or equivalent governing body occurs as a result of an
actual or threatened solicitation of proxies or consents for the election or removal of one
or more directors by any person or group other than a solicitation for the election of one
or more directors by or on behalf of the board of directors);

     (c) any Person or two or more Persons acting in concert shall have acquired by contract
or otherwise, or shall have entered into a contract or arrangement that, upon consummation
thereof, will result in its or their acquisition of the power to exercise, directly or
indirectly, a controlling influence over the management or policies of TRM, or control over
the Voting Stock of TRM on a fully-diluted basis (and taking into account all such Voting
Stock that such Person or group has the right to acquire pursuant to any option right)
representing thirty-five (35%) or more of the combined voting power of such Voting Stock;

     (d) TRM fails to own 100% of the outstanding Equity Interests in TRM LTD; or

     (e) (i) TRM shall cease to beneficially own and control 100% on a fully diluted basis
of the economic and voting interest in the Equity Interests of each of TRM ATM and TRM CC,
(ii) TRM CC shall cease to beneficially own and control 100% on a fully diluted basis of the
economic and voting interest in the Equity Interests of TRM (Canada) Corporation, a
corporation organized under the laws of Canada and registered as an extraprovincial company
under the laws of British Columbia (with additional extraprovincial registrations in Quebec
and Ontario), or (iii) TRM ATM shall cease to beneficially own and control 100% on a fully
diluted basis of the economic and voting interest in the Equity Interests of Access Cash
International LLC, a Delaware Limited Liability company.

     “Closing Date” means the date hereof.

     “Code” means the Internal Revenue Code of 1986.

     “Collateral” means a collective reference to all real and personal Property with
respect to which Liens in favor of the Administrative Agent, for the benefit of itself and the
Lenders, are purported to be granted pursuant to and in accordance with the terms of the Collateral
Documents.

     “Collateral Documents” means a collective reference to the Security Agreement, the
Pledge Agreement, the Canadian Security Agreement and each other security document as may be
executed and delivered by the Loan Parties pursuant to the terms of Section 7.14.

     “Commitment” means, as to each Lender, the Term Loan Commitment of such Lender.

     “Compliance Certificate” means a certificate substantially in the form of Exhibit
7.02.

     “Consolidated Adjusted EBITDA” means, for any period, for TRM and its Subsidiaries on
a consolidated basis, an amount equal to Consolidated EBITDA for such period minus
Consolidated Capital Expenditures (other than to the extent financed by the incurrence of
Indebtedness).

     “Consolidated Capital Expenditures” means, for any period, for TRM and its
Subsidiaries on a consolidated basis, all capital expenditures, as determined in accordance with
GAAP; provided, however, that Consolidated Capital Expenditures shall not include
(i) expenditures made with proceeds of any Involuntary Disposition to the extent such expenditures
are used to purchase Property that is the same as or similar to the Property subject to such
Involuntary Disposition or (ii) expenditures made to implement Triple

5

 

DES technological upgrades to merchant owned ATMs (“Merchant Owned ATM Technology
Upgrades”) and which are characterized on Borrowers’ financial statements as acquisition of
intangibles and other assets or investments in goodwill.

     “Consolidated Cash Taxes” means, for any period, for TRM and its Subsidiaries on a
consolidated basis, the aggregate of all taxes, as determined in accordance with GAAP, to the
extent the same are paid in cash during such period.

     “Consolidated EBITDA” means, for any period, for TRM and its Subsidiaries on a
consolidated basis, an amount equal to Consolidated Net Income for such period plus the
following to the extent deducted in calculating such Consolidated Net Income: (a) Consolidated
Interest Charges for such period, (b) the provision for federal, state, local and foreign income
taxes payable by TRM and its Subsidiaries for such period, (c) the amount of depreciation and
amortization expense for such period, (d) non-cash expenses (excluding any non-cash expenses
representing an accrual of or reserve for cash expenses in any future period) and (e) one-time cash
expenses incurred in connection with the closing of this Agreement so long as such expenses are
reasonably documented do not exceed $500,000 in the aggregate, all as determined in accordance with
GAAP.

     “Consolidated Excess Cash Flow” means, for any period for TRM and its Subsidiaries, an
amount equal to Consolidated EBITDA minus, in each case without duplication, (a)
expenditures made with the Net Cash Proceeds of any Involuntary Dispositions for replacement
property, to the extent the same were included the computation of Consolidated Net Income, (b)
un-financed Consolidated Capital Expenditures paid in cash, (c) the cash portion of Consolidated
Interest Expense, (d) cash taxes paid during such period, (e) Consolidated Scheduled Funded Debt
Payments made during such period, and repayments of Revolving Loans under and as defined under the
First Lien Loan Documents, and other Indebtedness subject to re-borrowing to the extent not
accompanied by a concurrent and permanent reduction of the lending commitment thereunder), (f) the
amount of any voluntary prepayments made on the Term Loan under the First Lien Loan Documents or
hereunder during such fiscal year and any optional principal prepayments with respect to all
Revolving Loans actually paid, but only to the extent accompanied by a concurrent and permanent
reduction of the lending commitments with respect thereof, and (g) any increase (or plus
any decrease) in the aggregate working capital of the Borrowers, in each case above, on a
consolidated basis determined in accordance with GAAP.

     “Consolidated First Lien Leverage Ratio” means, as of any date of determination, the
ratio of (a) the aggregate Outstanding Amount under this Agreement as of such date to (b)
Consolidated EBITDA for the period of the four fiscal quarters most recently ended for which TRM
has delivered financial statements pursuant to Section 7.01(a) or (b).

     “Consolidated Fixed Charge Coverage Ratio” means, as of any date of determination, the
ratio of (a) Consolidated Adjusted EBITDA for the period of the four fiscal quarters most recently
ended for which TRM has delivered financial statements pursuant to Section 7.01(a) or
(b) to (b) Consolidated Fixed Charges for such period.

     “Consolidated Fixed Charges” means, as of any date of determination, for TRM and its
Subsidiaries on a consolidated basis, an amount equal to the sum of (i) Consolidated Cash Taxes for
such period plus (ii) the cash portion of Consolidated Interest Charges for such period plus (iii)
Consolidated Scheduled Funded Debt Payments for such period, all as determined in accordance with
GAAP.

     “Consolidated Funded Indebtedness” means Funded Indebtedness of TRM and its
Subsidiaries on a consolidated basis determined in accordance with GAAP.

6

 

     “Consolidated Interest Charges” means, for any period, for TRM and its Subsidiaries on
a consolidated basis, an amount equal to the sum of (i) all interest, premium payments, debt
discount, fees, charges and related expenses in connection with borrowed money (including
capitalized interest) or in connection with the deferred purchase price of assets, in each case to
the extent treated as interest in accordance with GAAP, plus (ii) the portion of rent
expense with respect to such period under Capital Leases that is treated as interest in accordance
with GAAP plus (iii) the implied interest component of Synthetic Leases with respect to
such period plus (or minus) (iv) cash payments (or cash receipts) in respect of
periodic settlements on interest rate hedging agreements. Consolidated Interest Charges shall not
include “rental” or similar costs of cash payable by TRM or any Subsidiary to TRM Inventory Funding
Trust or any other Person in connection with obtaining “vault cash” pursuant to the Vault Cash
Agreements.

     “Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a)
Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the period of the
four fiscal quarters most recently ended for which TRM has delivered financial statements pursuant
to Section 7.01(a) or (b).

     “Consolidated Net Income” means, for any period, for TRM and its Subsidiaries on a
consolidated basis, the net income of TRM and its Subsidiaries (excluding extraordinary gains) for
that period, as determined in accordance with GAAP.

     “Consolidated Scheduled Funded Debt Payments” means for any period for TRM and its
Subsidiaries on a consolidated basis, the sum of all scheduled payments of principal on
Consolidated Funded Indebtedness, as determined in accordance with GAAP. For purposes of this
definition, “scheduled payments of principal” (a) shall be determined without giving effect to any
reduction of such scheduled payments resulting from the application of any voluntary or mandatory
prepayments made during the applicable period, (b) shall be deemed to include the Attributable
Indebtedness in respect of Capital Leases and Synthetic Leases to the extent of payments scheduled
for such period, and (c) shall not include any voluntary prepayments or mandatory prepayments
required pursuant to Section 2.05.

     “Contractual Obligation” means, as to any Person, any provision of any security issued
by such Person or of any agreement, instrument or other undertaking to which such Person is a party
or by which it or any of its property is bound.

     “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. Without limiting the generality of the foregoing, a Person
shall be deemed to be Controlled by another Person if such other Person possesses, directly or
indirectly, power to vote 20% or more of the securities having ordinary voting power for the
election of directors, managing general partners or the equivalent.

     “Debt Issuance” means the issuance by TRM or any Subsidiary of any Indebtedness other
than Indebtedness that is either permitted under Section 8.03 or otherwise approved by the
Required Lenders.

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

     “Default” means any event or condition that constitutes an Event of Default or that,
with the giving of any notice, the passage of time, or both, would be an Event of Default.

7

 

     “Default Rate” means an interest rate equal to (i) the Base Rate plus (ii) the
Applicable Margin, plus (iii) 2.0% per annum.

     “Defaulting Lender” means any Lender that (a) has failed to fund any portion of the
Loans, required to be funded by it hereunder within one Business Day of the date required to be
funded by it hereunder, (b) has otherwise failed to pay over to the Administrative Agent or any
other Lender any other amount required to be paid by it hereunder within one Business Day of the
date when due, unless the subject of a good faith dispute, or (c) has been deemed insolvent or
become the subject of a bankruptcy or insolvency proceeding.

     “Defaulting Lender Rate” means (a) for the first 3 days from and after the date the
relevant payment is due, the Base Rate, and (b) thereafter, the interest rate then applicable to
Loans that are Eurocurrency Rate Loans.

     “Deposit Account” means any deposit account (as that term is defined in the Uniform
Commercial Code).

     “Designated Account” means the Deposit Account of Borrower Representative identified
on Schedule 1.01-B.

     “Designated Account Bank” has the meaning specified therefor in Schedule
1.01-C.

     “Disposition” or “Dispose” means the sale, transfer, license, lease or other
disposition (including any sale and leaseback transaction) of any Property by TRM or any Subsidiary
(including the Equity Interests of any Subsidiary), including any sale, assignment, transfer or
other disposal, with or without recourse, of any notes or accounts receivable or any rights and
claims associated therewith, but excluding any Involuntary Disposition.

     “Dollar” and “$” mean lawful money of the United States.

     “Domestic Subsidiary” means any Subsidiary that is organized under the laws of any
political subdivision of the United States.

     “Eligible Assets” means Property that is used or useful in the same or a similar line
of business as TRM and its Subsidiaries were engaged in on the Closing Date (or any reasonable
extensions, replacements or expansions thereof).

     “Eligible Assignee” means (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved
Fund; and (d) any other Person (other than a natural person) approved by (i) the Required Lenders,
and (ii) unless an Event of Default has occurred and is continuing, Borrower Representative (each
such approval not to be unreasonably withheld or delayed and no approval of Borrower Representative
shall be required in connection with assignments made by the GSO Fund within 30 days of the Closing
Date in connection with the primary syndication of the Loans and Commitments); provided
that notwithstanding the foregoing, “Eligible Assignee” shall not include TRM, any of TRM’s
Affiliates or Subsidiaries or any officer or director thereof or any Affiliates of such Persons.

     “Environmental Laws” means any and all federal, state, local, foreign and other
applicable statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits,
concessions, grants, franchises, licenses, agreements or governmental restrictions relating to
pollution and the protection of the

8

 

environment or the release of any materials into the environment, including those related to
hazardous substances or wastes, air emissions and discharges to waste or public systems.

     “Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of TRM
or any of its Subsidiaries 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, with respect to any Person, all of the shares of capital
stock of (or other ownership or profit interests in) such Person, all of the warrants, options or
other rights for the purchase or acquisition from such Person of shares of capital stock of (or
other ownership or profit interests in) such Person, all of the securities convertible into or
exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person
or warrants, rights or options for the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit interests in such Person (including
partnership, member or trust interests therein), whether voting or nonvoting, and whether or not
such shares, warrants, options, rights or other interests are outstanding on any date of
determination.

     “Equity Issuance” means any issuance by TRM or any Subsidiary to any Person of its
Equity Interests, other than (a) any issuance of its Equity Interests pursuant to the exercise of
options or warrants, (b) any issuance of its Equity Interests pursuant to the conversion of any
debt securities to equity or the conversion of any class equity securities to any other class of
equity securities, (c) any issuance of options or warrants relating to its Equity Interests, or (d)
any issuance of its Equity Interests to an employee, officer or director or former employee,
officer or director pursuant to a stock incentive plan, stock option plan or other equity-based
compensation plan or arrangement. The term “Equity Issuance” shall not be deemed to include any
Disposition.

     “ERISA” means the Employee Retirement Income Security Act of 1974.

     “ERISA Affiliate” means any trade or business (whether or not incorporated) under
common control with TRM within the meaning of Section 414(b) or (c) of the Code (and Sections
414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code).

     “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a
withdrawal by TRM or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA
during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of
ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of
ERISA; (c) a complete or partial withdrawal by TRM or any ERISA Affiliate from a Multiemployer Plan
or notification that a Multiemployer Plan is in reorganization; (d) the filing of a notice of
intent to terminate, the treatment of a Plan amendment as a termination under Sections 4041 or
4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or
Multiemployer Plan; (e) an event or condition which constitutes grounds under Section 4042 of ERISA
for the termination of, or the appointment of a trustee to administer, any Pension Plan or
Multiemployer Plan; or (f) the imposition of any liability under Title IV of ERISA, other than for
PBGC premiums due but not delinquent under Section 4007 of ERISA, upon TRM or any ERISA Affiliate.

     “Eurocurrency Rate” means the rate per annum, determined by Administrative Agent in
accordance with its customary procedures, and utilizing such electronic or other quotation sources
as it

9

 

considers appropriate (rounded upwards, if necessary, to the next 1/100%), to be the rate at
which Dollar deposits (for delivery on the first day of the requested Interest Period) are offered
to major banks in the London interbank market 2 Business Days prior to the commencement of the
requested Interest Period, for a term and in an amount comparable to the Interest Period and the
amount of the Eurocurrency Rate Loan requested (whether as an initial Eurocurrency Rate Loan or as
a continuation of a Eurocurrency Rate Loan or as a conversion of a Base Rate Loan to a Eurocurrency
Rate Loan) by Borrower Representative in accordance with the Agreement, which determination shall
be conclusive in the absence of manifest error.

     “Eurocurrency Rate Loan” means a Loan that bears interest at a rate based on the
Eurocurrency Rate.

     “Eurocurrency Rate Loan” has the meaning specified in Section 2.02(a).

     “Event of Default” has the meaning specified in Section 9.01.

     “Excluded Property” means:

     (a) with respect to any Loan Party, (i) any owned or leased real Property unless
requested by the Administrative Agent or the Required Lenders, (ii) any personal Property
(including, without limitation, motor vehicles) in respect of which perfection of a Lien is
not either (A) governed by the Uniform Commercial Code or (B) effected by appropriate
evidence of the Lien being filed in either the United States Copyright Office or the United
States Patent and Trademark Office, unless requested by the Administrative Agent or the
Required Lenders, (iii) any Property which, subject to the terms of Section 8.09, is
subject to a Lien of the type described in Section 8.01(i) pursuant to documents
which prohibit such Loan Party from granting any other Liens in such Property and (iv) any
permit, lease, license, contract or other instrument of such Person if the grant of a
security interest in such permit, lease, license, contract or other instrument in the manner
contemplated by this Agreement, is prohibited under the terms thereof or under applicable
Law and would result in the termination thereof or give the other parties thereto the right
to terminate, accelerate or otherwise alter such Person’s rights, titles and interests
thereunder (including upon the giving of notice or the lapse of time or both) but only to
the extent that (A) consent from the relevant party or parties has not been obtained and (B)
such prohibition is not rendered ineffective pursuant to the UCC or any other applicable law
(including Debtor Relief Laws); and

     (b) with respect to any Foreign Subsidiary, (i) any owned or leased real Property
unless requested by the Administrative Agent or the Required Lenders, (ii) any Property
which, subject to the terms of Section 8.09, is subject to a Lien of the type
described in Section 8.01(i) pursuant to documents which prohibit such Loan Party
from granting any other Liens in such Property, (iii) any permit, lease, license, contract
or other instrument of such Person if the grant of a security interest in such permit,
lease, license, contract or other instrument in the manner contemplated by this Agreement,
is prohibited under the terms thereof or under applicable Law and would result in the
termination thereof or give the other parties thereto the right to terminate, accelerate or
otherwise alter such Person’s rights, titles and interests thereunder (including upon the
giving of notice or the lapse of time or both) but only to the extent that (A) consent from
the relevant party or parties has not been obtained and (B) such prohibition is not rendered
ineffective pursuant to the UCC or any other applicable law (including Debtor Relief Laws)
and (iv) any other Property for which, in the reasonable judgment of the Administrative
Agent and the Required Lenders, (A) the expense of granting and perfecting a security
interest therein under applicable Law is excessive given the value of such Property or (B)
the granting and perfecting a security interest therein would have a

10

 

material adverse impact on the operation of the business of any Loan Party or would
result in a material tax liability to any Loan Party.

     “Excluded Taxes” means, with respect to the Administrative Agent, any Lender or any
other recipient of any payment to be made by or on account of any obligation of a Borrower
hereunder, (a) taxes imposed on or measured by its overall net income (however denominated), and
franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political
subdivision thereof) under the laws of which such recipient is organized or in which its principal
office is located or, in the case of any Lender, in which its applicable Lending Office is located,
(b) any branch profits taxes imposed by the United States or any similar tax imposed by any other
jurisdiction in which such Borrower is located and (c) in the case of a Foreign Lender (other than
an assignee pursuant to a request by Borrower Representative under Section 11.13), any
withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign
Lender becomes a party hereto (or designates a new Lending Office) or is attributable to such
Foreign Lender’s failure or inability (other than as a result of a Change in Law) to comply with
Section 3.01(e), except to the extent that such Foreign Lender (or its assignor, if any)
was entitled, at the time of designation of a new Lending Office (or assignment), to receive
additional amounts from the applicable Borrower with respect to such withholding tax pursuant to
Section 3.01(a).

     “Exposure” means, with respect to any Lender, such Lender’s Applicable Percentage of
the Outstanding Amount of the Term Loan.

     “Facilities” means, at any time, a collective reference to the facilities and real
properties owned, leased or operated by TRM or any direct or indirect Subsidiary.

     “Fee Letter” means the letter agreement, dated June 6, 2006 among Borrowers and GSO
Capital Partners.

     “First Lien Indebtedness” means the Indebtedness arising under and evidenced by the
First Lien Loan Documents.

     “First Lien Loan Documents” means that certain Credit Agreement of even date herewith
by and among the Borrowers, WFF (as administrative agent thereunder) and the GSO Fund as lender
thereunder, those certain Term Notes and Revolving Notes of even date herewith made by Borrowers in
the aggregate original principal amount of $41,000,000 and each other document, instrument or
agreement executed and/or delivered by Borrowers or any affiliate thereof in connection with the
transactions contemplated by any of the foregoing.

     “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction
other than that in which the Borrowers are resident for tax purposes. For purposes of this
definition, the United States of America, each State thereof and the District of Columbia shall be
deemed to constitute a single jurisdiction.

     “Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary.

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

     “Fund” means any Person (other than a natural person) that is (or will be) engaged in
making, purchasing, holding or otherwise investing in commercial loans and similar extensions of
credit in the ordinary course of its business.

11

 

     “Funded Indebtedness” means, as to any Person at a particular time, without
duplication, all of the following, whether or not included as indebtedness or liabilities in
accordance with GAAP:

     (a) all obligations for borrowed money, whether current or long-term (including the
Obligations) and all obligations of such Person evidenced by bonds, debentures, notes, loan
agreements or other similar instruments;

     (b) all purchase money Indebtedness;

     (c) the principal portion of all obligations under conditional sale or other title
retention agreements relating to Property purchased by such Person (other than customary
reservations or retentions of title under agreements with suppliers entered into in the
ordinary course of business);

     (d) all obligations arising under letters of credit (including standby and commercial),
bankers’ acceptances, bank guaranties, surety bonds and similar instruments;

     (e) all obligations in respect of the deferred purchase price of property or services
(including trade accounts payable in the ordinary course of business which, by their express
terms are not due earlier than 120 days after the date on which such trade account payable
was created);

     (f) the Attributable Indebtedness of Capital Leases, Synthetic Leases and
Securitization Transactions;

     (g) all preferred stock or other Equity Interests providing for mandatory redemptions,
sinking fund or like payments prior to the Maturity Date;

     (h) all Funded Indebtedness of others secured by (or for which the holder of such
Funded Indebtedness has an existing right, contingent or otherwise, to be secured by) any
Lien on, or payable out of the proceeds of production from, Property owned or acquired by
such Person, whether or not the obligations secured thereby have been assumed, but
only to the extent that the aggregate amount of such Funded Indebtedness does not exceed the
fair market value of Property;

     (i) all Guarantees with respect to Funded Indebtedness of the types specified in
clauses (a) through (h) above of another Person;

     (j) all obligations or liabilities that otherwise would constitute Indebtedness
hereunder but are characterized or treated as off-balance sheet financing or obligations
under GAAP; and

     (k) all Funded Indebtedness of the types referred to in clauses (a) through (j) above
of any partnership or joint venture (other than a joint venture that is itself a corporation
or limited liability company) in which such Person is a general partner or joint venturer,
except to the extent that Funded Indebtedness is expressly made non-recourse to such Person.

For purposes hereof, the amount of any direct obligation arising under letters of credit
(including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and
similar instruments shall be the maximum amount available to be drawn thereunder.

12

 

     “Funding Date” means the date on which a Loan is continued as a Eurocurrency Rate Loan
(whether the same or a different Interest Period).

     “GAAP” means generally accepted accounting principles in the United States set forth
in the opinions and pronouncements of the Accounting Principles Board and the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial Accounting
Standards Board, consistently applied and as in effect from time to time.

     “Governmental Authority” means the government of the United States, the United Kingdom
or any other nation, or of 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 (including any supra-national bodies such as the European Union or the
European Central Bank).

     “Guarantee” means, as to any Person, (a) any obligation, contingent or otherwise, of
such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other
obligation payable or performable by another Person (the “primary obligor”) in any manner, whether
directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to
purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or
other obligation, (ii) to purchase or lease property, securities or services for the purpose of
assuring the obligee in respect of such Indebtedness or other obligation of the payment or
performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity
capital or any other financial statement condition or liquidity or level of income or cash flow of
the primary obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation or (iv) entered into for the purpose of assuring in any other manner the obligee in
respect of such Indebtedness or other obligation of the payment or performance thereof or to
protect such obligee against loss in respect thereof (in whole or in part) or (b) any Lien on any
assets of such Person securing any Indebtedness or other obligation of any other Person, whether or
not such Indebtedness or other obligation is assumed by such Person (or any right, contingent or
otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any
Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related
primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not
stated or determinable, the maximum reasonably anticipated liability in respect thereof as
determined by the guaranteeing Person in good faith; provided that in the case Guarantee
described in clause (b) above where recourse is solely to the Property of such Person subject to a
Lien, the amount of such Guarantee shall be deemed to be the lesser of the fair market value of
such Property or the amount of such Guarantee. The term “Guarantee” as a verb has a corresponding
meaning.

     “Guarantor” means each Subsidiary of TRM identified as a “Guarantor” on the signature
pages hereto and each other Person that joins as a Guarantor pursuant to Section 7.12, together
with their successors and permitted assigns. As of the Closing Date, the Guarantors consist of TRM
(Canada) Corporation, (Company No. 272484-7), a corporation organized under the laws of Canada, and
Access Cash International LLC, a Delaware limited liability company, and are referred to
collectively as the “Guarantors”.

     “Guaranty” means that certain Guaranty of even date herewith made by the Guarantors in
favor of the Administrative Agent and the Lenders pursuant to Article IV.

     “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

 

     “Honor Date” has the meaning set forth in Section 2.03(c).

     “Indebtedness” means, as to any Person at a particular time, without duplication, all
of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

     (a) all Funded Indebtedness;

     (b) the Swap Termination Value of any Swap Contract;

     (c) all Guarantees with respect to outstanding Indebtedness of the types specified in
clauses (a) and (b) above of any other Person; and

     (d) all Indebtedness of the types referred to in clauses (a) through (c) above of any
partnership or joint venture (other than a joint venture that is itself a corporation or
limited liability company) in which such Person is a general partner or joint venturer,
unless such Indebtedness is expressly made non-recourse to the applicable Person or such
Subsidiary.

     For avoidance of doubt, obligations with respect to the “leasing” or “rental” of cash arising
under Vault Cash Agreements (including surcharges and interchanges fees payable pursuant to the
terms thereof) shall not constitute “Indebtedness” hereunder to the extent that such obligations do
not constitute and have not become recourse Indebtedness to TRM or any of its other Subsidiaries.

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

     “Indemnitees” has the meaning specified in Section 11.04(b).

     “Intercreditor Agreement” means that certain Intercreditor and Subordination Agreement
dated as of June 6, 2006 by and among Borrower, Administrative Agent and the agent under the First
Lien Loan Documents on behalf of the “Lenders” thereunder, as amended, supplemented or otherwise
modified from time to time in accordance with its terms.

     “Interest Payment Date” means (a) as to any Eurocurrency Rate Loan, the last day of
each Interest Period applicable to such Loan and the Maturity Date; provided,
however, that if any Interest Period for a Eurocurrency Rate Loan exceeds three months, the
respective dates that fall every three months after the beginning of such Interest Period shall
also be Interest Payment Dates; and (b) as to any Base Rate Loan , the last Business Day of each
March, June, September and December and the Maturity Date.

     “Interest Period” means, as to each Eurocurrency Rate Loan, the period commencing on
the date such Eurocurrency Rate Loan is disbursed or continued as a Eurocurrency Rate Loan and
ending on the date one, two, three or six months thereafter, as selected by the applicable Borrower
in its Loan Notice; provided that:

     (i) any Interest Period that would otherwise end on a day that is not a
Business Day shall be extended to the next succeeding Business Day unless such
Business Day falls in another calendar month, in which case such Interest Period
shall end on the next preceding Business Day;

     (ii) any Interest Period that begins on the last Business Day of a calendar
month (or on a day for which there is no numerically corresponding day in the
calendar

14

 

month at the end of such Interest Period) shall end on the last Business Day of
the calendar month at the end of such Interest Period; and

     (iii) no Interest Period shall extend beyond the Maturity Date.

     “Interim Financial Statements” has the meaning set forth in Section 5.01(c).

     “Investment” means, as to any Person, any direct or indirect acquisition or investment
by such Person, whether by means of (a) the purchase or other acquisition of Equity Interests of
another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of,
or purchase or other acquisition of any other debt or equity participation or interest in, another
Person, including any partnership or joint venture interest in such other Person and any
arrangement pursuant to which the investor Guarantees Indebtedness of such other Person, or (c) an
Acquisition. For purposes of covenant compliance, the amount of any Investment shall be the amount
actually invested, without adjustment for subsequent increases or decreases in the value of such
Investment and, for avoidance of doubt, neither (i) Consolidated Capital Expenditures nor (ii)
corporate overhead and corporate expenses incurred by TRM and allocated to a Foreign Subsidiary in
accordance with its pro rata share thereof and accounted for as an intercompany payable pursuant to
the books and records of TRM, consistent with historical practice, shall be deemed an Investment.

     “Involuntary Disposition” means any loss of, damage to or destruction of, or any
condemnation or other taking for public use of, any Property of TRM or any of its Subsidiaries.

     “IP Rights” has the meaning specified in Section 6.17.

     “IRS” means the United States Internal Revenue Service.

     “Joinder Agreement” means a joinder agreement substantially in the form of Exhibit
7.12 executed and delivered by a Subsidiary in accordance with the provisions of Section
7.12.

     “Laws” means, collectively, all international, foreign, federal, state and local
statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or
judicial precedents or authorities, including the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable administrative orders, directed duties, requests, licenses, authorizations and
permits of, and agreements with, any Governmental Authority, in each case whether or not having the
force of law.

     “Lender Group” means, individually and collectively, each of the Lenders and
Administrative Agent.

     “Lenders” means each of the Persons identified as a “Lender” on the signature pages
hereto, any Person which becomes a Lender by executing an Assignment and Assumption Agreement
pursuant hereto, and their successors and assigns.

     “Lending Office” means, as to any Lender, the office or offices of such Lender
designated by such Lender in writing to the Administrative Agent and Borrower Representative, or
such other office or offices as a Lender may from time to time notify Borrower Representative and
the Administrative Agent.

     “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or other), charge, or preference, priority or other security interest
or preferential arrangement in the nature of a security interest of any kind or nature whatsoever
(including

15

 

any conditional sale or, to the extent constituting a security interest under applicable Law,
other title retention agreement, any easement, right of way or other encumbrance on title to real
property, and any financing lease having substantially the same economic effect as any of the
foregoing).

     “Loan” means the Term Loan which shall be Eurocurrency Rate Loans when made.

     “Loan Account” has the meaning specified therefor in Section 2.17 hereof.

     “Loan Documents” means this Agreement, each Note, the Intercreditor Agreement, the UK
Pledge Agreement, the Bank Product Agreements, each Issuer Document, each Joinder Agreement, the
Collateral Documents and the Fee Letter.

     “Loan Notice” means a notice of a continuation of Eurocurrency Rate Loans, in each
case pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form
of Exhibit 2.02.

     “Loan Parties” means, collectively, the Borrowers and the Guarantors.

     “Material Adverse Effect” means, with respect to any event, act, condition,
circumstance or occurrence of whatever nature (including any adverse determination in any
litigation, arbitration, or governmental investigation or proceeding), whether singly or in
conjunction with any other event or events, act or acts, condition, circumstance, conditions or
occurrences, whether or not related, (a) a material adverse change in, or a material adverse effect
upon, the operations, business, properties, liabilities (actual or contingent), condition
(financial or otherwise) or prospects of any Borrower, the Loan parties taken as a whole, or the UK
Loan Parties taken as a whole; (b) a material impairment of the ability of any Loan Party to
perform its obligations under any Loan Document to which it is a party; (c) a material adverse
effect upon the legality, validity, binding effect or enforceability against any Loan Party of any
Loan Document to which it is a party or (d) a material adverse change in, or a material adverse
effect upon the existence, validity, perfection or priority of any security interest granted in any
Loan Document or the value of any material Collateral.

     “Material Contract” means (a) (i) any employment agreements covering executive or key
management of any Loan Party, (ii) collective bargaining agreements or other labor agreements
covering any employees of any Loan Party, (iii) agreements for managerial, consulting or similar
services to which any Loan Party is a party or by which it is bound, (iv) real estate leases,
intellectual property licenses or other lease or license agreements to which any Loan Party is a
party, either as lessor or lessee, or as licensor or licensee thereunder, (v) customer,
distribution, marketing or supply agreements to which any Loan Party is a party (other than
purchase and sale orders arising in the ordinary course of business, consistent with historical
practice), in each case with respect to the preceding clauses (i), (iii), (iv) and (v) requiring
payment of more than $1,000,000 in any year, (vi) partnership agreements to which any Loan Party is
a general partner or joint venture agreements to which any Loan Party is a party or (vii) any other
agreements or instruments to which any Loan Party is a party, and the breach, nonperformance or
cancellation of which, or the failure of which to renew, could reasonably be expected to have a
Material Adverse Effect, and (b) or any contract or agreement which generates or is expected to
account for $500,000 or more of any Loan Party’s annual gross revenues.

     “Maturity Date” means June 6, 2012.

     “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto.

16

 

     “Multiemployer Plan” means any employee benefit plan of the type described in Section
4001(a)(3) of ERISA, to which TRM or any ERISA Affiliate makes or is obligated to make
contributions, or during the preceding five plan years, has made or been obligated to make
contributions.

     “Net Cash Proceeds” means the aggregate cash or Cash Equivalents proceeds received by
a Borrower or any Subsidiary in respect of any Disposition, Equity Issuance, Debt Issuance or
Involuntary Disposition, net of (a) direct costs incurred in connection therewith (including,
without limitation, legal, accounting and investment banking fees, and sales commissions), (b)
taxes paid or payable as a result thereof and (c) in the case of any Disposition, the amount
necessary to retire any Indebtedness secured by a Permitted Lien (ranking senior to any Lien of the
Administrative Agent or, if consented to by the Required Lenders, any other Indebtedness secured by
such Permitted Lien and ranking pari passu or junior to any Lien of the Administrative Agent) on
the related Property; it being understood that “Net Cash Proceeds” shall include, without
limitation, any cash or Cash Equivalents received upon the sale or other disposition of any
non-cash consideration received by a Borrower or any Subsidiary in any Disposition, Equity
Issuance, Debt Issuance or Involuntary Disposition.

     “Note(s)” has the meaning specified in Section 2.11(a).

     “Obligations” means (a) all advances to, and debts, liabilities, obligations
(including indemnification obligations), covenants and duties of, any Loan Party arising under any
Loan Document or otherwise with respect to any Loan, whether direct or indirect (including those
acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter
arising and including interest and fees that accrue after the commencement by or against any Loan
Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as
the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in
such proceeding and (b) the Bank Product Obligations. The foregoing shall also include all
obligations under any Swap Contract between any Loan Party and any Lender or Affiliate of a Lender
that is permitted to be incurred pursuant to Section 8.03(d).

     “Organization Documents” means, (a) with respect to any corporation, the certificate
or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents
with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the
certificate or articles of formation or organization and operating agreement; and (c) with respect
to any partnership, joint venture, trust or other form of business entity, the partnership, joint
venture or other applicable agreement of formation or organization and any agreement, instrument,
filing or notice with respect thereto filed in connection with its formation or organization with
the applicable Governmental Authority in the jurisdiction of its formation or organization and, if
applicable, any certificate or articles of formation or organization of such entity.

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

     “Outstanding Amount” means on any date, the amount of the aggregate outstanding
principal amount of the Term Loan after giving effect to any borrowings and prepayments or
repayments thereof occurring on such date;.

     “PBGC” means the Pension Benefit Guaranty Corporation or any successor thereto.

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     “Pension Plan” means any “employee pension benefit plan” (as such term is defined in
Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and
is sponsored or maintained by TRM or any ERISA Affiliate or to which TRM or any ERISA Affiliate
contributes or has an obligation to contribute, or in the case of a multiple employer or other plan
described in Section 4064(a) of ERISA, has made contributions at any time during the immediately
preceding five plan years.

     “Permitted Investments” means, at any time, Investments by a Borrower or any of its
Subsidiaries permitted to exist at such time pursuant to the terms of Section 8.02.

     “Permitted Liens” means, at any time, Liens in respect of Property of a Borrower or
any of its Subsidiaries permitted to exist at such time pursuant to the terms of Section
8.01.

     “Permitted Transfers” means (a) Dispositions of inventory in the ordinary course of
business (which includes ATMs and photocopiers either held for sale or lease or otherwise
transferred or sold to customers in the ordinary course of business consistent with historical
practice in an aggregate amount not to exceed $500,000 per fiscal year of Borrowers); (b)
Dispositions of machinery and equipment no longer used or useful in the conduct of business of the
applicable Borrower and its Subsidiaries that are Disposed of in the ordinary course of business;
(c) Dispositions of Property to a Borrower or any Subsidiary (other than to any Dormant
Subsidiary), provided, that if the transferor of such Property is a Loan Party either (i)
the transferee thereof must be a Loan Party or (ii) to the extent such transaction constitutes an
Investment, such transaction is permitted under Section 8.02; (d) Dispositions of accounts
receivable in connection with the collection or compromise thereof; (e) non-exclusive licenses,
sublicenses, leases or subleases granted to others not interfering in any material respect with the
business of any Borrower and its Subsidiaries and, in any event, the license of certain TRM name
and trademark rights to Digital 4 Convenience TLC for a period of two years in connection with the
sale by TRM of its photocopier business in the United Kingdom; and (f) the sale or disposition of
Cash Equivalents for fair market value.

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

     “Plan” means any “employee benefit plan” (as such term is defined in Section 3(3) of
ERISA) established by TRM or, with respect to any such plan that is subject to Section 412 of the
Code or Title IV of ERISA, any ERISA Affiliate.

     “Pledge Agreements” means, collectively, (i) that certain Pledge Agreement dated as of
June 6, 2006 made by TRM in favor of Administrative Agent with respect to its equity interests in
the other Borrowers, (ii) that certain Pledge Agreement made by TRM ATM and TRM CC with respect to
their respective Subsidiaries, and (iii) that certain Pledge Agreement made by TRM in favor of
Administrative Agent with respect to 65% of the issued and outstanding equity securities of TRM
LTD.

     “Prepayment Premium” means (i) during the period beginning on the Closing Date through
June 6, 2007, three percent (3.0%); (ii) during the period beginning on June 7, 2007 through June
6, 2008, two percent (2.0%); (iii) during the period beginning on June 7, 2008 through June 6,
2009, one percent (1.0%); and (iv) thereafter 0%.

     “Processing Agreements” means that certain Master Services Agreement dated on or about
November 19, 2004 between TRM ATM and eFunds Corporation and that certain Money Access Service
Processing Agreement dated March 3, 1999 between Star Processing, Inc. (f/k/a Money access
Services, Inc.) and TRM ATM, as each such agreement may be amended, restated, supplemented or
otherwise modified from time to time.

18

 

     “Pro Forma Basis” means, for purposes of calculating the financial covenants set forth
in Section 8.11, that any Disposition (other than Permitted Transfers), Involuntary
Disposition, Acquisition or Restricted Payment of the type described in Section 8.06(c)
shall be deemed to have occurred as of the first day of the most recent four fiscal quarter period
preceding the date of such transaction for which the Borrowers were required to deliver financial
statements pursuant to Section 7.01(a) or (b). In connection with the foregoing,
(a) with respect to any Disposition or Involuntary Disposition, (i) income statement and cash flow
statement items (whether positive or negative) attributable to the Property disposed of shall be
excluded to the extent relating to any period occurring prior to the date of such transaction and
(ii) Indebtedness which is retired shall be excluded and deemed to have been retired as of the
first day of the applicable period and (b) with respect to any Acquisition, (i) income statement
items attributable to the Person or Property acquired shall be included to the extent relating to
any period applicable in such calculations to the extent (A) such items are not otherwise included
in such income statement items for TRM and its Subsidiaries in accordance with GAAP or in
accordance with any defined terms set forth in Section 1.01 and (B) such items are
supported by financial statements or other information reasonably satisfactory to the
Administrative Agent and (ii) any Indebtedness incurred or assumed by a Borrower or any Subsidiary
(including the Person or Property acquired) in connection with such transaction and any
Indebtedness of the Person or Property acquired which is not retired in connection with such
transaction (A) shall be deemed to have been incurred as of the first day of the applicable period
and (B) if such Indebtedness has a floating or formula rate, shall have an implied rate of interest
for the applicable period for purposes of this definition determined by utilizing the rate which is
or would be in effect with respect to such Indebtedness as at the relevant date of determination.

     “Pro Forma Compliance Certificate” means a certificate of a Responsible Officer of
Borrower Representative containing reasonably detailed calculations of the financial covenants set
forth in Section 8.11 as of the most recent fiscal quarter end for which the Borrowers were
required to deliver financial statements pursuant to Section 7.01(a) or (b) after
giving effect to the applicable transaction on a Pro Forma Basis.

     “Pro Forma Financial Statements” has the meaning set forth in Section 5.01(c).

     “Property” means any interest of any kind in any property or asset, whether real,
personal or mixed, or tangible or intangible.

     “Register” has the meaning specified in Section 11.06(c).

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

     “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA,
other than events for which the thirty-day notice period has been waived.

     “Required Lenders” means, at any time, those Lenders holding at least 66?% of the
aggregate Outstanding Amount.

     “Responsible Officer” means the chief executive officer, president, treasurer,
managing director or chief financial officer of a Loan Party. Any document delivered hereunder
that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been
authorized by all necessary corporate, partnership and/or other action on the part of such Loan
Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such
Loan Party.

19

 

     “Restricted Payment” means any dividend or other distribution (whether in cash,
securities or other property) with respect to any Equity Interests of a Borrower 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 such Equity Interests or on account of any return of capital to a Borrower’s
stockholders, partners or members (or the equivalent Person thereof), or any setting apart of funds
or Property for any of the foregoing.

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

     “Same Day Funds” means immediately available funds denominated in Dollars.

     “SEC” means the Securities and Exchange Commission, or any Governmental Authority
succeeding to any of its principal functions.

     “Securitization Transaction” means, with respect to any Person, any financing
transaction or series of financing transactions (including factoring arrangements) pursuant to
which such Person or any Subsidiary of such Person may sell, convey or otherwise transfer, or grant
a security interest in, accounts, payments, receivables, rights to future lease payments or
residuals or similar rights to payment to a special purpose subsidiary or affiliate of such Person.

     “Security Agreement” means the Security and Pledge Agreement dated as of the Closing
Date executed in favor of the Administrative Agent by each of the Loan Parties.

     “Solvent” or “Solvency” means, with respect to any Person as of a particular
date, that on such date (a) such Person is able to pay its debts and other liabilities, contingent
obligations and other commitments as they mature in the ordinary course of business, (b) such
Person does not intend to, and does not believe that it will, incur debts or liabilities beyond
such Person’s ability to pay as such debts and liabilities mature in their ordinary course, (c)
such Person is not engaged in a business or a transaction, and is not about to engage in a business
or a transaction, for which such Person’s Property would constitute unreasonably small capital
after giving due consideration to the prevailing practice in the industry in which such Person is
engaged or is to engage, (d) the fair value of the Property of such Person is greater than the
total amount of liabilities, including, without limitation, contingent liabilities, of such Person
and (e) the present fair salable value of the assets of such Person is not less than the amount
that will be required to pay the probable liability of such Person on its debts as they become
absolute and matured. In computing the amount of contingent liabilities at any time, it is
intended that such liabilities will be computed at the amount which, in light of all the facts and
circumstances existing at such time, represents the amount that can reasonably be expected to
become an actual or matured liability. In determining whether a Person is Solvent, credit shall be
given for subrogation, contribution and similar rights in favor of such Person.

     “Specified Obligations” means Obligations consisting of principal of and interest on
the Term Loan and fees.

     “Subsidiary” of a Person means a corporation, partnership, joint venture, limited
liability company or other business entity of which a majority of the shares of Voting Stock is at
the time beneficially owned, or the management of which is otherwise controlled, directly, or
indirectly through one or more intermediaries, or both, by such Person. Unless otherwise
specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary
or Subsidiaries of TRM.

     “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward
commodity

20

 

contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or
options or forward bond or forward bond price or forward bond index transactions, interest rate
options, forward foreign exchange transactions, cap transactions, floor transactions, collar
transactions, currency swap transactions, cross-currency rate swap transactions, currency options,
spot contracts, or any other similar transactions or any combination of any of the foregoing
(including any options to enter into any of the foregoing), whether or not any such transaction is
governed by or subject to any master agreement, and (b) any and all transactions of any kind, and
the related confirmations, which are subject to the terms and conditions of, or governed by, any
form of master agreement published by the International Swaps and Derivatives Association, Inc.,
any International Foreign Exchange Master Agreement, or any other similar master agreement (any
such master agreement, together with any related schedules, a “Master Agreement”),
including any such obligations or liabilities under any Master Agreement.

     “Swap Termination Value” means, in respect of any one or more Swap Contracts, after
taking into account the effect of any legally enforceable netting agreement relating to such Swap
Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and
termination value(s) determined in accordance therewith, such termination value(s) and (b) for any
date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market
value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily
available quotations provided by any recognized dealer in such Swap Contracts (which may include a
Lender or any Affiliate of a Lender).

     “Synthetic Lease” means any synthetic lease, tax retention operating lease,
off-balance sheet loan or similar off-balance sheet financing arrangement whereby the arrangement
is considered borrowed money indebtedness for tax purposes but is classified as an operating lease
or does not otherwise appear on a balance sheet under GAAP.

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

     “Term Loan” has the meaning specified in Section 2.01(b).

     “Term Loan Commitment” means, as to each Lender, its obligation to make its portion of
the Term Loan to the Borrowers pursuant to Section 2.01(b), in the principal amount set
forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the
Term Loan Commitments of all of the Lenders as in effect on the Closing Date is forty million
dollars ($40,000,000).

     “Tranche” means a category of Commitments and Loans thereunder. For purposes hereof,
each of the following comprises a separate Tranche: (a) the Term Loan Commitment and the Term Loan,
denominated as Eurocurrency Loans, and (b) any Base Rate Loans.

     “TRM CC” has the meaning specified in the introductory paragraph hereto.

     “TRM ATM” has the meaning specified in the introductory paragraph hereto.

     “TRM LTD” means TRM (ATM) LIMITED, a company incorporated in England and Wales, and a
wholly owned Subsidiary of TRM.

     “Unfunded Pension Liability” means the excess of a Pension Plan’s benefit liabilities
under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets,
determined in

21

 

accordance with the assumptions used for funding that Pension Plan pursuant to Section 412 of the
Code for the applicable plan year.

     “UK Indebtedness” means the Indebtedness evidenced by the UK Loan Documents in a
maximum aggregate principal Dollar Equivalent amount of $24,000,000.

     “UK Loan Parties” means those Persons identified as a “Borrower” or a “Guarantor”
under the UK Loan Documents, together with their respective successors and assigns.

     “UK Loan Documents” means, collectively, (i) that certain Facility Agreement by and
among GSO Luxembourg Origination Funding S.a.r.l., as agent and a lender thereunder (“GSO
Lux”), and TRM LTD, as the borrower, (ii) that certain Debenture of even date therewith issued
by TRM LTD in favor of GSO Lux for the benefit of the lenders thereunder, (iii) that certain Charge
Over Shares of TRM ATM Limited made by TRM in favor of GSO Lux, and (iv) that certain Guarantee
made by TRM in favor of GSO Lux and the lenders under the UK Loan Documents with respect to the UK
Indebtedness, each of the foregoing dated as of June 6, 2006, together with each other document,
agreement, certificate or instrument executed and/or delivered by any UK Loan Party in connection
with the transactions contemplated by the UK Loan Documents, all as hereafter amended, restated,
supplemented or otherwise modified from time to time.

     “UK Pledge Agreement” means that certain Charge Over Shares dated the Closing Date
executed in favor of the Administrative Agent by TRM, as amended, supplemented or otherwise
modified from time to time.

     “United Kingdom” and “UK” mean the United Kingdom of Great Britain and
Northern Ireland.

     “United States” and “U.S.” mean the United States of America.

     “US Vault Cash Agreement” means that certain Loan and Servicing Agreement dated as of
March 17, 2000 by and among, inter alia, TRM Inventory Funding Trust, TRM ATM, DZ Bank AG as from
time to time amended, restated, supplemented or otherwise modified and in effect.

     “Vault Cash Agreements” means, collectively, (i) the US Vault Cash Agreement, and (ii)
the CAN Vault Cash Agreement.

     “Voting Stock” means, with respect to any Person, Equity Interests issued by such
Person the holders of which are ordinarily, in the absence of contingencies, entitled to vote for
the election of directors (or persons performing similar functions) of such Person, even though the
right so to vote has been suspended by the happening of such a contingency.

     “Wells Fargo” means Wells Fargo Bank, National Association, a national banking
association.

     “Wholly Owned Subsidiary” means any Person 100% of whose Equity Interests are at the
time owned by a Borrower directly or indirectly through other Persons 100% of whose Equity
Interests are at the time owned, directly or indirectly, by a Borrower.

1.02 Other Interpretive Provisions.

     With reference to this Agreement and each other Loan Document, unless otherwise specified
herein or in such other Loan Document:

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     (a) 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, (i) any
definition of or reference to any agreement, instrument or other document (including any
Organization Document) 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 or in any
other Loan Document), (ii) any reference herein to any Person shall be construed to include
such Person’s successors and assigns, (iii) the words “herein,” “hereof” and
“hereunder,” and words of similar import when used in any Loan Document, shall be
construed to refer to such Loan Document in its entirety and not to any particular provision
thereof, (iv) all references in a Loan Document to Articles, Sections, Exhibits and
Schedules shall be construed to refer to Articles and Sections of, and Exhibits and
Schedules to, the Loan Document in which such references appear, (v) any reference to any
law shall include all statutory and regulatory provisions consolidating, amending replacing
or interpreting such law and any reference to any law or regulation shall, unless otherwise
specified, refer to such law or regulation as amended, modified or supplemented from time to
time, (vi) 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, (vii) whenever a
decision, consent or approval is to be made hereunder within a party’s discretion, such
discretion shall be reasonable (from the perspective of a secured lender’s judgment) and
such decision, consent or approval shall not be unreasonably withheld, delayed or
conditioned unless it is expressly stated hereunder that such decision, consent or approval
is or can be conditioned or is subject to the sole and/or absolute discretion of the party
making such determination and (viii) any reference herein or in any other Loan Document to
the satisfaction or repayment in full of the Obligations shall mean the repayment in full in
cash (or the Cash Collateralization in accordance with the terms hereof) of all Obligations
other than unasserted contingent indemnification Obligations and other than any Bank Product
Obligations that by the terms of the applicable documents will remain outstanding and that
are not required by the provisions of this Agreement to be repaid or Cash Collateralized.

     (b) In the computation of periods of time from a specified date to a later specified
date, the word “from” means “from and including;” the words “to” and
“until” each mean “to but excluding;” and the word “through” means
“to and including.”

     (c) Section headings herein and in the other Loan Documents are included for
convenience of reference only and shall not affect the interpretation of this Agreement or
any other Loan Document.

1.03 Accounting Terms.

     (a) Generally. Except as otherwise specifically prescribed herein, all accounting
terms not specifically or completely defined herein shall be construed in conformity with, and all
financial data (including financial ratios and other financial calculations) required to be
submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a
consistent basis, as in effect from time to time, applied in a manner consistent with that used in
preparing the Audited Financial Statements; provided, however, that calculations of
Attributable Indebtedness under any Synthetic Lease or the implied interest component of any
Synthetic Lease shall be made by a Borrower in accordance with accepted financial practice and
consistent with the terms of such Synthetic Lease.

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     (b) Changes in GAAP. Borrower Representative will provide a written summary of
material changes in GAAP and in the consistent application thereof with each annual and quarterly
Compliance Certificate delivered in accordance with Section 7.02(b). If at any time any
change in GAAP would affect the computation of any financial ratio or requirement set forth in any
Loan Document, and either Borrower Representative or the Required Lenders shall so request, the
Administrative Agent, the Lenders and the Borrowers shall negotiate in good faith to amend such
ratio or requirement to preserve the original intent thereof in light of such change in GAAP
(subject to the approval of the Required Lenders); provided that, until so amended,
(i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such
change therein and (ii) Borrower Representative shall provide to the Administrative Agent and the
Lenders financial statements and other documents required under this Agreement or as reasonably
requested hereunder setting forth a reconciliation between calculations of such ratio or
requirement made before and after giving effect to such change in GAAP.

     (c) Calculations. Notwithstanding anything herein to the contrary, the parties hereto
acknowledge and agree that (i) all calculations of the financial covenants in Section 8.11
shall be made on a Pro Forma Basis and (ii) obligations with respect to the “leasing” or “rental”
of cash arising under Vault Cash Agreements and under that certain Agreement for the Provision of
Cash dated as of January 25, 2005 by and among TRM LTD and Alliance and Leicester Commercial Bank
Plc shall not constitute “Indebtedness” hereunder to the extent that such obligations do not
constitute recourse Indebtedness to the Borrowers or any of their other respective Subsidiaries.

1.04 Times of Day.

     Unless otherwise specified, all references herein to times of day shall be references to
Eastern time (daylight or standard, as applicable).

1.05 Rounding.

     Any financial ratios required to be maintained by the Borrowers pursuant to this Agreement
shall be calculated by dividing the appropriate component by the other component, carrying the
result to one place more than the number of places by which such ratio is expressed herein and
rounding the result up or down to the nearest number (with a rounding-up if there is no nearest
number).

ARTICLE II

THE COMMITMENTS AND CREDIT EXTENSIONS

2.01 The Term Loan.

     Subject to the terms and conditions set forth herein, each Lender severally agrees to make its
portion of a term loan (the “Term Loan”) to the Borrowers on the Closing Date in an amount
not to exceed such Lender’s Term Loan Commitment. Amounts repaid on the Term Loan may not be
re-borrowed. The Term Loan shall consist only of Eurocurrency Rate Loans, as further provided
herein, provided, however, all Borrowings made on the Closing Date shall be made as
Eurocurrency Rate Loans having an Interest Period of one month until sixty Business Day following
the Closing Date (or such earlier date as the Administrative Agent and the Borrowers shall agree
following the completion of the primary syndication of the Term Loan).

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2.02 Conversions and Continuations of Loans.

     (a) The Term Loan and each continuation of Eurocurrency Rate Loans comprising the Term Loan
(each a “Eurocurrency Rate Loan”) shall be made upon the Borrower Representative’s
irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice
must be received by the Administrative Agent not later than 11:00 a.m. three Business Days prior to
the Funding Date of any Borrowing of or continuation of Eurocurrency Rate Loans. Each telephonic
notice by Borrower Representative pursuant to this Section 2.02(a) must be confirmed
promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed
and signed by a Responsible Officer of Borrower Representative. Each continuation of a
Eurocurrency Rate Loan shall be in a principal amount of $1,000,000 or a whole multiple of
$1,000,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i)
the requested date of the continuation (which shall be a Business Day), (ii) the principal amount
of Loans to be continued, and (iii) the duration of the Interest Period with respect thereto. If
Borrowers fail to give a timely notice requesting a continuation, then the applicable Loans shall
be continued as a Eurocurrency Rate Loan having an Interest Period of one month. Any automatic
continuation of Eurocurrency Rate Loans shall be effective as of the last day of the Interest
Period then in effect. If Borrowers request a continuation of Eurocurrency Rate Loans in any Loan
Notice, but fail to specify an Interest Period, Borrowers will be deemed to have specified an
Interest Period of one month.

     (b) Following receipt of a Loan Notice, the Administrative Agent shall promptly notify each
Lender of the amount of its Applicable Percentage of the applicable Term Loans, and if no timely
notice of a continuation is provided by the Borrowers, the Administrative Agent shall notify each
Lender of the details of any automatic continuation, as described in the preceding subsection. In
the case of the Term Loan, each Lender shall make the amount of its Term Loan available to the
Administrative Agent in Same Day Funds at the Administrative Agent’s Office for the applicable
currency not later than 1:00 p.m. on the Closing Day. Upon satisfaction of the applicable
conditions set forth in Section 5.02, the Administrative Agent shall make all funds so
received available to the Borrowers in like funds as received by the Administrative Agent either by
wire transfer of such funds in accordance with instructions provided to (and reasonably acceptable
to) the Administrative Agent by Borrower Representative.

2.03 Reserved.

2.04 Continuations and Conversions of Loans.

     (a) Except as otherwise provided herein, each Eurocurrency Rate Loan may be continued only on
the last day of the Interest Period for such Eurocurrency Rate Loan. During the existence of a
Default, no Loans may be continued as Eurocurrency Rate Loans without the consent of the Required
Lenders, and the Required Lenders may demand that any or all of the then outstanding Eurocurrency
Rate Loans be converted immediately to Base Rate Loans.

     (b) The Administrative Agent shall promptly notify the Borrower Representative and the Lenders
of the interest rate applicable to any Interest Period for Eurocurrency Rate Loans upon
determination of such interest rate. At any time that Base Rate Loans are outstanding, the
Administrative Agent shall notify Borrower Representative and the Lenders of any change in Wells
Fargo’s prime rate used in determining the Base Rate promptly following the public announcement of
such change.

     (c) After giving effect to all Borrowings and all continuations of Loans, there shall not be
more than five (5) Eurocurrency Rate Loans in effect at any given time.

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2.05 Prepayments.

     (a) Voluntary Prepayments of Loans. Borrowers may, upon written notice to the
Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or
in part; provided that (A) such notice must be received by the Administrative Agent not
later than 11:00 a.m. three Business Days prior to any date of prepayment of Eurocurrency Rate
Loans and any such prepayment of Eurocurrency Rate Loans shall be in a principal amount of $500,000
or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof
then outstanding); and any prepayment of the Term Loan shall be applied to the remaining principal
amortization payments in their inverse order and (B) such prepayment must be accompanied by the
applicable Prepayment Premium. Each such notice shall specify the date and amount of such
prepayment and the Interest Period(s) of such Loans. The Administrative Agent will promptly notify
each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable
Percentage of such prepayment. If such notice is given by a Borrower, such Borrower shall make
such prepayment and the payment amount specified in such notice shall be due and payable on the
date specified therein. Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all
accrued interest on the amount prepaid, together with any additional amounts required pursuant to
Section 3.05. Each such prepayment shall be applied to the Loans of the Lenders in
accordance with their respective Applicable Percentages.

     (b) Mandatory Prepayments of Loans.

     (i) Reserved.

     (ii) Reserved.

     (iii) Dispositions and Involuntary Dispositions. Subject to the terms of the
First Lien Loan Documents, the Borrowers shall prepay the Term Loan in an aggregate amount
equal to 100% of the Net Cash Proceeds of all Dispositions (other than Permitted Transfers)
and Involuntary Dispositions in excess of $500,000 per fiscal year of TRM to the extent such
Net Cash Proceeds are not reinvested in Eligible Assets within 180 days of the date of such
Disposition or Involuntary Disposition; provided that such Net Cash Proceeds shall
not be reinvested in Eligible Assets if a Default exists at the time of such Disposition.
Any prepayment pursuant to this clause (ii) shall be applied as set forth in clause (vii)
below.

     (iv) Consolidated Excess Cash Flow. Subject to the terms of the First Lien
Loan Documents, within ninety days after the end of each fiscal year commencing with the
fiscal year ending December 31, 2007, the Borrowers shall prepay the Loan as hereafter
provided in an aggregate amount equal to 50% (or, if the Consolidated Leverage Ratio as of
the last day of any such fiscal year is less than 2.0 to 1.0, 25%) of the US Pro Rata Share
of Consolidated Excess Cash Flow for such fiscal year (provided that and for so long as any
portion of Consolidated Excess Cash Flow otherwise payable hereunder, but not constituting
the US Pro Rata Share, is actually paid and applied to the repayment of the UK Indebtedness
in accordance with the terms of the UK Loan Documents). Any prepayment pursuant to this
clause (iii) shall be applied as set forth in clause (vii) below). For purposes of this
clause 2.05(b)(iv), “US Pro Rata Share” means the proportion that the Outstanding
Amount bears to the then outstanding principal balance of all loan and other obligations
outstanding under the UK Loan Documents.

     (v) Debt Issuances. Subject to the terms of the First Lien Loan Documents,
immediately upon receipt by any Loan Party of the Net Cash Proceeds of any Debt Issuance,
the Borrowers shall prepay the Loans as hereafter provided in an aggregate amount equal to
100% of such Net Cash Proceeds (such prepayment to be applied as set forth in clause (vii)
below).

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     (vi) Equity Issuances. Subject to the terms of the First Lien Loan Documents,
immediately upon the receipt by TRM of the Net Cash Proceeds of any Equity Issuance, the
Borrowers shall prepay the Loans in an aggregate amount equal to 100% of such Net Cash
Proceeds.

     (vii) Application of Mandatory Prepayments. Unless a Default or Event of
Default exists all amounts required to be paid pursuant to this Section 2.05(b)
shall be applied to the Term Loan (to the remaining principal amortization payments in their
inverse order). Within the parameters of the applications set forth above, prepayments
shall be applied to Eurocurrency Rate Loans in direct order of Interest Period maturities.
All prepayments under this Section 2.05(b) shall be subject to Section 3.05,
but otherwise without premium or penalty, and shall be accompanied by interest on the
principal amount prepaid through the date of prepayment. Application of repayments of the
Obligations after acceleration or maturity thereof shall be governed by Section 9.03 hereof.

     (viii) Eurocurrency Prepayment Account. If the Borrowers are required to make
a mandatory prepayment of Eurocurrency Rate Loans under clauses (iii), (iv), (v) or (vi) of
this Section 2.05(b), so long as no Event of Default exists, the Borrowers shall
have the right, in lieu of making such prepayment in full, to deposit an amount equal to
such mandatory prepayment with the Administrative Agent in a cash collateral account
maintained (pursuant to documentation reasonably satisfactory to the Administrative Agent)
by and in the sole dominion and control of the Administrative Agent. Any amounts so
deposited shall be held by the Administrative Agent as collateral for the prepayment of such
Eurocurrency Rate Loans and shall be applied to the prepayment of the applicable
Eurocurrency Rate Loans at the end of the current Interest Periods applicable thereto or,
sooner, at the election of the Administrative Agent, upon the occurrence of an Event of
Default. At the request of Borrower Representative, amounts so deposited shall be invested
by the Administrative Agent in Cash Equivalents maturing on or prior to the date or dates on
which it is anticipated that such amounts will be applied to prepay such Eurocurrency Rate
Loans; any interest earned on such Cash Equivalents will be for the account of the Borrowers
and the Borrowers will deposit with the Administrative Agent the amount of any loss on any
such Cash Equivalents to the extent necessary in order that the amount of the prepayment to
be made with the deposited amounts may not be reduced.

2.06 Reserved.

2.07 Repayment of Loans.

     The Borrowers shall repay the entire outstanding principal amount of the Term Loan in full,
together with all accrued and unpaid interest thereon, on the Maturity Date.

2.08 Interest.

     (a) Subject to the provisions of subsection (b) below, (i) each Eurocurrency Rate Loan shall
bear interest on the outstanding principal amount thereof for each Interest Period at a rate per
annum equal to the sum of the Eurocurrency Rate for such Interest Period plus the
Applicable Margin; (ii) each Base Rate Loan shall bear interest on the outstanding principal amount
thereof from the applicable date of conversion at a rate per annum equal to the Base Rate
plus the Applicable Margin; and (iii) all other Obligations that have been charged to the
Loan Account pursuant to the terms hereof shall bear interest on the daily balance thereof at a
rate per annum equal to the Eurocurrency Rate plus the Applicable Margin.

27

 

(b) (i) If any amount of principal of any Loan is not paid when due (without regard to any
applicable grace periods), whether at stated maturity, by acceleration or otherwise, such
amount shall thereafter bear interest at a fluctuating interest rate per annum at all times
equal to the Default Rate to the fullest extent permitted by applicable Laws.

     (ii) If any amount (other than principal of any Loan) payable by a Borrower under any
Loan Document is not paid when due (without regard to any applicable grace periods), whether
at stated maturity, by acceleration or otherwise, then upon the request of the Required
Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum
at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.

     (iii) Upon the request of the Required Lenders, while any Event of Default exists, the
Borrowers shall pay interest on the principal amount of all outstanding Obligations
hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to
the fullest extent permitted by applicable Laws.

     (iv) Accrued and unpaid interest on past due amounts (including interest on past due
interest) shall be due and payable upon demand.

     (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date
applicable thereto and at such other times as may be specified herein. Interest hereunder shall be
due and payable in accordance with the terms hereof before and after judgment, and before and after
the commencement of any proceeding under any Debtor Relief Law.

2.09 Fees.

     In addition to certain fees described in subsections (i) and (j) of Section 2.03 the
Borrowers shall pay to GSO Capital Partners and the Administrative Agent for their own respective
accounts, fees in the amounts and at the times specified in the Fee Letter. Such fees shall be
fully earned when paid and shall not be refundable for any reason whatsoever. All Fees payable
hereunder or pursuant to any Loan Document or the Fee Letter shall be payable in Dollars.

2.10 Computation of Interest and Fees.

     All computations of interest for Loans and all other computations of fees and interest shall
be made on the basis of a 360-day year and actual days elapsed. Interest shall accrue on each Loan
for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for
the day on which the Loan or such portion is paid, provided that any Loan that is repaid on
the same day on which it is made shall, subject to Section 2.12(a), bear interest for one
day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be
conclusive and binding for all purposes, absent manifest error.

2.11 Evidence of Debt.

     The Loans made by each Lender shall be evidenced by one or more accounts or records maintained
by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or
records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest
error of the amount of the Loans made by the Lenders to the Borrowers and the interest and payments
thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise
affect the obligation of the Borrowers hereunder to pay any amount owing with respect to the
Obligations. In the event of any conflict between the accounts and records maintained by any
Lender and the accounts

28

 

and records of the Administrative Agent in respect of such matters, the accounts and records
of the Administrative Agent shall control in the absence of manifest error. Upon the request of
any Lender to the Borrowers made through the Administrative Agent, the Borrowers shall execute and
deliver to such Lender (through the Administrative Agent) a promissory note, which shall evidence
such Lender’s Loans to the Borrowers in addition to such accounts or records. Each such promissory
note shall be in the form of Exhibit 2.11(a) (a “Note”). Each Lender may attach
schedules to its Note and endorse thereon the date, amount, currency and maturity of its Loans and
payments with respect thereto.

2.12 Payments Generally; Administrative Agent’s Clawback.

     (a) Reserved

     (b) Loan Account. To the extent any payment is not made, Borrowers hereby authorize
Administrative Agent, from time to time, without prior notice to Borrowers, to charge all interest
and fees (when due and payable), all expenses (as and when incurred), all charges, commissions,
fees, and costs provided for in Section 2.18(e) (as and when accrued or incurred), all fees and
costs provided for in Section 2.09 (as and when accrued or incurred), and all other payments as and
when due and payable under any Loan Document (including the amounts due and payable with respect to
the Term Loan) to Borrowers’ Loan Account, which amounts shall be added to the then outstanding
principal balance of the Term Loan and shall accrue interest at the rate then applicable to Term
Loans that are Eurocurrency Rate Loans.

     (c) Reserved

     (d) Obligations of Lenders Several. The obligations of the Lenders hereunder to make
Loans and to make payments pursuant to Section 11.04(c) are several and not joint. The
failure of any Lender to make any Loan, to fund any such participation or to make any payment under
Section 11.04(c) on any date required hereunder shall not relieve any other Lender of its
corresponding obligation to do so on such date, and no Lender shall be responsible for the failure
of any other Lender to so make its Loan, to purchase its participation or to make its payment under
Section 11.04(c).

     (e) Funding Source. Nothing herein shall be deemed to obligate any Lender to obtain
the funds for any Loan in any particular place or manner or to constitute a representation by any
Lender that it has obtained or will obtain the funds for any Loan in any particular place or
manner.

2.13 Sharing of Payments by Lenders.

     If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain
payment in respect of any principal of or interest on any of the Loans made by it, resulting in
such Lender’s receiving payment of a proportion of the aggregate amount of such Loans or
participations and accrued interest thereon greater than its pro rata share thereof
as provided herein, then the Lender receiving such greater proportion shall (a) notify the
Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the
Loans, or make such other adjustments as shall be equitable, so that the benefit of all such
payments shall be shared by the Lenders ratably in accordance with the aggregate amount of
principal of and accrued interest on their respective Loans and other amounts owing them,
provided that:

     (i) if any such participations or subparticipations are purchased and all or any
portion of the payment giving rise thereto is recovered, such participations or
subparticipations shall be rescinded and the purchase price restored to the extent of such
recovery, without interest; and

29

 

     (ii) the provisions of this Section shall not be construed to apply to (x) any payment
made by Borrowers pursuant to and in accordance with the express terms of this Agreement or
(y) any payment obtained by a Lender as consideration for the assignment of or sale of a
participation in any of its Loans to any assignee or participant, other than to a Borrower
or any Subsidiary thereof (as to which the provisions of this Section shall apply).

     Each Loan Party 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 such Loan Party rights of setoff and counterclaim with respect to
such participation as fully as if such Lender were a direct creditor of such Loan Party in the
amount of such participation.

2.14 Appointment of Borrower Representative.

     (a) The Borrowers maintain an integrated cash management system reflecting their
interdependence on one another and the mutual benefits shared among them as a result of their
respective operations. In order to efficiently fund and operate their respective businesses and
minimize the number of borrowings which they will make under this Agreement and thereby reduce the
administrative costs and record keeping required in connection therewith, including the necessity
to enter into and maintain separately identified and monitored borrowing facilities, the Borrowers
have requested, and the Administrative Agent and the Lenders have agreed that, subject to Section
11.18 hereof, all Loans will be advanced to and for the account of the Borrowers on a joint and
several basis pursuant to the wire transfer instructions specified herein Borrower Representative.
Each Borrower hereby acknowledges that it will be receiving a direct benefit from the Term Loan
made pursuant to this Agreement.

     (b) Each Borrower hereby designates, appoints, authorizes and empowers TRM as the
“Borrower Representative” for all purposes under this Agreement, as its agent to act as
specified in this Agreement and each of the other Loan Documents and the Borrower Representative
hereby acknowledges such designation, authorization and empowerment, and accepts such appointment.
Each Borrower hereby irrevocably authorizes and directs the Borrower Representative to take such
action on its behalf under the provisions of this Agreement and the other Loan Documents, and any
other instruments, documents and agreements referred to herein or therein, and to exercise such
powers and to perform such duties hereunder and thereunder as are specifically delegated to or
required of the Borrower Representative by the respective terms and provisions hereof and thereof,
and such other powers as are reasonably incidental thereto, including, without limitation, to take
the following actions for and on such Borrower’s behalf:

     (i) to submit on behalf of each Eurocurrency Rate Loan Notices of Continuations to the
Administrative Agent in accordance with the provisions of this Agreement;

     (ii) to receive on behalf of each Borrower the proceeds of the Loans in accordance with
the provisions of this Agreement, such proceeds to be disbursed to or for the account of the
applicable Borrower as soon as practicable after its receipt thereof; and

     (iii) to submit on behalf of each Borrower, Compliance Certificates, Excess Cash Flow
Certificates and all other certificates, notices and other communications given or required
to be given hereunder.

     The Borrower Representative is further authorized and directed by each Borrower to take all
such actions on behalf of such Borrower necessary to exercise the specific power granted in clauses
(i) through (iii) above and to perform such other duties hereunder and under the other Loan
Documents, and deliver such documents as delegated to or required of the Borrower Representative by
the terms hereof or thereof.

30

 

The administration by the Administrative Agent and Lenders of the credit facility under this
Agreement as a co-borrowing facility with a borrower agent or representative in the manner set
forth herein is solely as an accommodation to the Borrowers and at their request and neither the
Administrative Agent nor any Lender shall incur any liability to any Borrowers or the Borrower
Representative as a result thereof.

     (c) If and to the extent the Borrower Representative is a party to any merger, consolidation
or other transaction permitted under this Agreement such that the Borrower Representative is not
the surviving entity, the Borrowers shall appoint a replacement Borrower Representative from among
the remaining Borrowers, such replacement Borrower Representative to be reasonably acceptable to
Administrative Agent. Nothing in this subsection 2.14(c) shall constitute Administrative Agent’s
or any Lender’s consent to, or waiver of any Event of Default arising from, any merger,
consolidation or other transaction involving the Borrower Representative that violates any term or
provision of this Agreement or any other Loan Document.

2.15 Crediting Payments.

     The receipt of any payment item by Administrative Agent shall not be considered a payment on
account unless such payment item is a wire transfer of immediately available federal funds made to
the Administrative Agent’s Account or unless and until such payment item is honored when presented
for payment. Should any such payment item not be honored when presented for payment, then
Borrowers shall be deemed not to have made such payment and interest shall be calculated
accordingly. Anything to the contrary contained herein notwithstanding, any such payment item
shall be deemed received by Administrative Agent only if it is received into the Administrative
Agent’s Account on a Business Day on or before 2:00 p.m. If any payment item is received into the
Administrative Agent’s Account on a non-Business Day or after 2:00 p.m. on a Business Day, it shall
be deemed to have been received by Administrative Agent as of the opening of business on the
immediately following Business Day. All payments to be made by the Borrowers shall be made without
condition or deduction for any counterclaim, defense, recoupment or setoff. The Administrative
Agent will promptly distribute to each Lender its Applicable Percentage (or other applicable share
as provided herein) of such payment in like funds as received by wire transfer to such Lender’s
Lending Office. Subject to the definition of “Interest Period”, if any payment to be made by a
Borrower shall come due on a day other than a Business Day, payment shall be made on the next
following Business Day, and such extension of time shall be reflected in computing interest or
fees, as the case may be.

2.16 Reserved.

2.17 Maintenance of Loan Account; Statements of Obligations.

     Administrative Agent shall maintain an account on its books in the name of Borrowers (the
“Loan Account”) on which Borrowers will be charged with the Term Loan and with all other
payment Obligations hereunder or under the other Loan Documents, including, accrued interest, fees
and expenses. In accordance with Section 2.15, the Loan Account will be credited with all payments
received by Administrative Agent from Borrowers or for Borrowers’ account. Administrative Agent
shall render statements regarding the Loan Account to Borrower Representative, including principal,
interest, fees, and including an itemization of all charges and expenses owing, and such
statements, absent manifest error, shall be conclusively presumed to be correct and accurate and
constitute an account stated between Borrowers and the Lender Group unless, within 30 days after
receipt thereof by Borrower Representative, Borrower Representative shall deliver to Administrative
Agent written objection thereto describing the error or errors contained in any such statements.

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ARTICLE III

TAXES, YIELD PROTECTION AND ILLEGALITY

3.01 Taxes.

     (a) Payments Free of Taxes. Any and all payments by or on account of any obligation
of the respective Loan Parties hereunder or under any other Loan Document shall be made free and
clear of and without reduction or withholding for any Indemnified Taxes or Other Taxes,
provided that if the applicable Loan Party shall be required by applicable law to deduct
any Indemnified Taxes (including any 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 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 timely pay the full amount
deducted to the relevant Governmental Authority in accordance with applicable law.

     (b) Payment of Other Taxes by the Loan Parties. Without limiting the provisions of
subsection (a) above, each Loan Party shall timely pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law.

     (c) Indemnification by the Loan Parties. Each Loan Party shall indemnify the
Administrative Agent, each Lender, within 10 days after demand therefor, for the full amount of any
Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on
or attributable to amounts payable under this Section) paid by the Administrative Agent or such
Lender and any penalties, interest and reasonable out-of-pocket expenses arising therefrom or with
respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such
payment or liability delivered to a Loan Party by a Lender (with a copy to the Administrative
Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender shall be
conclusive absent manifest error.

     (d) Evidence of Payments. As soon as practicable after any payment of Indemnified
Taxes or Other Taxes by any 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.

     (e) Status of Lenders. Any Foreign Lender that is entitled to an exemption from or
reduction of withholding tax under the law of the jurisdiction in which a Borrower is resident for
tax purposes, or any treaty to which such jurisdiction is a party, with respect to payments
hereunder or under any other Loan Document shall deliver to such Borrower (with a copy to the
Administrative Agent), at the time or times prescribed by applicable law or reasonably requested by
such Borrower or the Administrative Agent, such properly completed and executed documentation
prescribed by applicable law as will permit such payments to be made without withholding or at a
reduced rate of withholding. In addition, any Lender, if requested by a Borrower or the
Administrative Agent, shall deliver such other documentation prescribed by applicable law or
reasonably requested by such Borrower or the Administrative Agent as will enable such Borrower or
the Administrative Agent to determine whether or not such Lender is subject to backup withholding
or information reporting requirements.

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     Without limiting the generality of the foregoing, any Foreign Lender shall deliver to a
Borrower and the Administrative Agent (in such number of copies as shall be requested by the
recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this
Agreement (and from time to time thereafter upon the request of such Borrower or the Administrative
Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the following is
applicable:

     (i) duly completed copies of Internal Revenue Service Form W-8BEN claiming eligibility
for benefits of an income tax treaty to which the United States is a party,

     (ii) duly completed copies of Internal Revenue Service Form W-8ECI,

     (iii) in the case of a Foreign Lender claiming the benefits of the exemption for
portfolio interest under section 881(c) of the Code, (x) a certificate to the effect that
such Foreign Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the
Code, (B) a “10 percent shareholder” of the applicable Borrower within the meaning of
section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in
section 881(c)(3)(C) of the Code and (y) duly completed copies of Internal Revenue Service
Form W-8BEN, or

     (iv) any other form prescribed by applicable law as a basis for claiming exemption from
or a reduction in United States Federal withholding tax duly completed together with such
supplementary documentation as may be prescribed by applicable law to permit such Borrower
to determine the withholding or deduction required to be made.

     Without limiting the obligations of the Lenders set forth above regarding delivery of certain
forms and documents to establish each Lender’s status for U.S. withholding tax purposes, each
Lender agrees promptly to deliver to the Administrative Agent or the Borrowers, as the
Administrative Agent or the Borrowers shall reasonably request, on or prior to the Closing Date,
and in a timely fashion thereafter, such other documents and forms required by any relevant taxing
authorities under the Laws of any other jurisdiction, duly executed and completed by such Lender,
as are required under such Laws to confirm such Lender’s entitlement to any available exemption
from, or reduction of, applicable withholding taxes in respect of all payments to be made to such
Lender outside of the U.S. by the Borrowers pursuant to this Agreement or otherwise to establish
such Lender’s status for withholding tax purposes in such other jurisdiction. Each Lender shall
promptly (i) notify the Administrative Agent of any change in circumstances which would modify or
render invalid any such claimed exemption or reduction, and (ii) take such steps as shall not be
materially disadvantageous to it, in the reasonable judgment of such Lender, and as may be
reasonably necessary (including the re-designation of its Lending Office) to avoid any requirement
of applicable Laws of any such jurisdiction that any Borrower make any deduction or withholding for
taxes from amounts payable to such Lender. Additionally, each Borrower shall promptly deliver to
the Administrative Agent or any Lender, as the Administrative Agent or such Lender shall reasonably
request, on or prior to the Closing Date, and in a timely fashion thereafter, such documents and
forms required by any relevant taxing authorities under the Laws of any jurisdiction, duly executed
and completed by such Borrower, as are required to be furnished by such Lender or the
Administrative Agent under such Laws in connection with any payment by the Administrative Agent or
any Lender of Taxes or Other Taxes, or otherwise in connection with the Loan Documents, with
respect to such jurisdiction.

     (f) Treatment of Certain Refunds. If the Administrative Agent, any Lender determines,
in its sole discretion, that it has received a refund of any Taxes or Other Taxes as to which it
has been indemnified by any Loan Party or with respect to which any Loan Party has paid additional
amounts pursuant to this Section, it shall pay to such Loan Party an amount equal to such refund
(but only to the extent of indemnity payments made, or additional amounts paid, by such Loan Party
under this Section

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with respect to the Taxes or Other Taxes giving rise to such refund), net of all reasonable
out-of-pocket expenses of the Administrative Agent, such Lender, and without interest (other than
any interest paid by the relevant Governmental Authority with respect to such refund),
provided that each Loan Party, upon the request of the Administrative Agent, such Lender
agrees to repay the amount paid over to such Loan Party (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. This subsection shall not be construed to require the Administrative Agent
or any Lender to make available its tax returns (or any other information relating to its taxes
that it deems confidential) to any Borrower or any other Person.

3.02 Illegality.

     If any Lender determines that any Law has made it unlawful, or that any Governmental Authority
has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain
or fund Eurocurrency Rate Loans, or to determine or charge interest rates based upon the
Eurocurrency Rate, or any Governmental Authority has imposed material restrictions on the authority
of such Lender to purchase or sell, or to take deposits of, Dollars in the applicable interbank
market, then, on notice thereof by such Lender to the Borrower Representative through the
Administrative Agent, any obligation of such Lender to make or continue Eurocurrency Rate Loans in
the affected currency or currencies or, in the case of Eurocurrency Rate Loans shall be suspended
until such Lender notifies the Administrative Agent and the Borrower Representative that the
circumstances giving rise to such determination no longer exist. Upon receipt of such notice, the
Borrowers shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or,
if applicable, convert all such Eurocurrency Rate Loans of such Lender to Base Rate Loans, either
on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain
such Eurocurrency Rate Loans to such day, or immediately, if such Lender may not lawfully continue
to maintain such Eurocurrency Rate Loans. Upon any such prepayment or conversion, the applicable
Borrower shall also pay accrued interest on the amount so prepaid or converted.

3.03 Inability to Determine Rates.

     If the Required Lenders determine that for any reason in connection with any request for a
Eurocurrency Rate Loan or a conversion to or continuation thereof that (a) deposits are not being
offered to banks in the applicable offshore interbank market for such currency for the applicable
amount and Interest Period of such Eurocurrency Rate Loan, (b) adequate and reasonable means do not
exist for determining the Eurocurrency Rate for any requested Interest Period with respect to a
proposed Eurocurrency Rate Loan, or (c) the Eurocurrency Rate for any requested Interest Period
with respect to a proposed Eurocurrency Rate Loan does not adequately and fairly reflect the cost
to such Lenders of funding such Eurocurrency Rate Loan, the Administrative Agent will promptly so
notify Borrower Representative and each Lender. Thereafter, the obligation of the Lenders to make
or maintain Eurocurrency Rate Loans in the affected currency or currencies shall be suspended until
the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon
receipt of such notice, the applicable Borrower may revoke any pending request for a Borrowing of,
conversion to or continuation of Eurocurrency Rate Loans in the affected currency or currencies or,
failing that, will be deemed to have converted such request into a request for a Borrowing of Base
Rate Loans in the amount specified therein.

3.04 Increased Costs.

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

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     (i) impose, modify or deem applicable any reserve, special deposit, compulsory loan,
insurance charge or similar requirement against assets of, deposits with or for the account
of, or credit extended or participated in by, any Lender;

     (ii) subject any Lender to any tax of any kind whatsoever with respect to this
Agreement or any Eurocurrency Rate Loan made by it, or change the basis of taxation of
payments to such Lender in respect thereof (except for Indemnified Taxes or Other Taxes
covered by Section 3.01 and the imposition of, or any change in the rate of, any
Excluded Tax payable by such Lender); or

     (iii) impose on any Lender or the London interbank market any other condition, cost or
expense affecting this Agreement or Eurocurrency Rate Loans made by such Lender;

and the result of any of the foregoing shall be to increase the cost to such Lender of
making or maintaining any Eurocurrency Rate Loan (or of maintaining its obligation to make
any such Loan), or to reduce the amount of any sum received or receivable by such Lender
(whether of principal, interest or any other amount) then, upon request of such Lender, the
Borrowers shall pay to such Lender, such additional amount or amounts as will compensate
such Lender, for such additional costs incurred or reduction suffered.

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

     (c) Certificates for Reimbursement. A certificate of a Lender setting forth the
amount or amounts necessary to compensate such Lender or its holding company, as the case may be,
as specified in subsection (a) or (b) of this Section and delivered to Borrower Representative
shall be conclusive absent manifest error. The Borrowers shall pay such Lender the amount shown as
due on any such certificate within 10 days after receipt thereof.

     (d) Delay in Requests. Failure or delay on the part of any Lender to demand
compensation pursuant to the foregoing provisions of this Section shall not constitute a waiver of
such Lender’s right to demand such compensation, provided that no Borrower shall be
required to compensate a Lender pursuant to the foregoing provisions of this Section for any
increased costs incurred or reductions suffered more than six months prior to the date that such
Lender notifies Borrower Representative of the Change in Law giving rise to such increased costs or
reductions and of such Lender’s intention to claim compensation therefor (except that, if the
Change in Law giving rise to such increased costs or reductions is retroactive, then the six-month
period referred to above shall be extended to include the period of retroactive effect thereof).

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3.05 Compensation for Losses.

     Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the
Borrowers shall promptly compensate such Lender for and hold such Lender harmless from any loss,
cost or expense incurred by it as a result of:

     (a) any continuation, conversion, payment or prepayment of any Loan other than a Base
Rate Loan on a day other than the last day of the Interest Period for such Loan (whether
voluntary, mandatory, automatic, by reason of acceleration, or otherwise);

     (b) any failure by Borrowers (for a reason other than the failure of such Lender to
make a Loan) to prepay, borrow or continue any Loan on the date or in the amount notified by
such Borrower; or

     (c) any assignment of a Eurocurrency Rate Loan on a day other than the last day of the
Interest Period therefor as a result of:

     (i) a request by Borrower Representative pursuant to Section 11.13; or

     (ii) an assignment by the GSO Fund pursuant to Section 11.06(b) as part
of the primary syndication of the Commitments and Loans during the 30-day period
immediately following the Closing Date, provided that the GSO Fund agrees to
use reasonable efforts to reduce the breakage costs payable by Borrowers in
connection therewith (including, without limitation, to the extent reasonably
practical, closing such assignments at the end of Interest Periods of outstanding
Eurocurrency Rate Loans);

including any loss of anticipated profits and any loss or expense arising from the liquidation or
reemployment of funds obtained by it to maintain such Loan. The Borrowers shall also pay any
customary administrative fees charged by such Lender in connection with the foregoing.

     For purposes of calculating amounts payable by Borrowers to the Lenders under this Section
3.05, each Lender shall be deemed to have funded each Eurocurrency Rate Loan made by it at the
Eurocurrency Base Rate used in determining the Eurocurrency Rate for such Loan by a matching
deposit or other borrowing in the offshore interbank market for such currency for a comparable
amount and for a comparable period, whether or not such Eurocurrency Rate Loan was in fact so
funded.

3.06 Mitigation Obligations; Replacement of Lenders.

     (a) Designation of a Different Lending Office. If any Lender requests compensation
under Section 3.04, or a Borrower is required to pay any additional amount to any Lender or
any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if
any Lender gives a notice pursuant to Section 3.02, then such Lender shall use reasonable
efforts to designate a different Lending Office for funding or booking its Loans hereunder or to
assign its rights and obligations hereunder to another of its offices, branches or affiliates, if,
in the reasonable judgment of such Lender, such designation or assignment (i) would eliminate or
reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the
future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and
(ii) in each case, would not subject such Lender to any un-reimbursed cost or expense and would not
otherwise be disadvantageous to such Lender. The Borrowers hereby agree to pay all reasonable
costs and out-of-pocket expenses incurred by any Lender in connection with any such designation or
assignment.

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     (b) Replacement of Lenders. If any Lender requests compensation under Section
3.04, 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 3.01, the
Borrowers may replace such Lender in accordance with Section 11.13.

3.07 Survival.

     All of the Borrowers’ obligations under this Article III shall survive termination of
the Commitments and repayment of all other Obligations hereunder.

ARTICLE IV

GUARANTY

4.01 The Guaranty.

     (a) Each of the Guarantors hereby jointly and severally guarantees to the Administrative Agent
and each of the holders of the Obligations as hereinafter provided, as primary obligor and not as
surety, the prompt payment of the Obligations in full when due (whether at stated maturity, as a
mandatory prepayment, by acceleration, as a mandatory Cash Collateralization or otherwise) strictly
in accordance with the terms thereof. The Guarantors hereby further agree that if any of the
Obligations are not paid in full when due (whether at stated maturity, as a mandatory prepayment,
by acceleration, as a mandatory Cash Collateralization or otherwise), the Guarantors will, jointly
and severally, promptly pay the same, without any demand or notice whatsoever, and that in the case
of any extension of time of payment or renewal of any of the Obligations, the same will be promptly
paid in full when due (whether at extended maturity, as a mandatory prepayment, by acceleration, as
a mandatory Cash Collateralization or otherwise) in accordance with the terms of such extension or
renewal.

     (b) Reserved.

     (c) Notwithstanding any provision to the contrary contained herein or in any other of the Loan
Documents, Swap Contracts, the obligations of each Guarantor (in its capacity as such) under this
Agreement and the other Loan Documents shall be limited to an aggregate amount equal to the largest
amount that would not render such obligations subject to avoidance under the Debtor Relief Laws or
any comparable provisions of any applicable Law.

4.02 Obligations Unconditional.

     (a) The obligations of the Guarantors under Section 4.01 are joint and several,
absolute and unconditional, irrespective of the value, genuineness, validity, regularity or
enforceability of any of the Loan Documents or other documents relating to the Obligations, or any
substitution, compromise, release, impairment or exchange of any other guarantee of or security for
any of the Obligations, and, to the fullest extent permitted by applicable Law, irrespective of any
other circumstance whatsoever that might otherwise constitute a legal or equitable discharge or
defense of a surety or guarantor, it being the intent of this Section 4.02 that the
obligations of the Guarantors hereunder shall be absolute and unconditional under any and all
circumstances. Each Guarantor agrees that such Guarantor shall have no right of subrogation,
indemnity, reimbursement or contribution against any Borrower or any other Guarantor for amounts
paid under this Article IV until such time as the Obligations have been irrevocably paid in
full.

     (b) Reserved.

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     (c) Without limiting the generality of the foregoing subsection (a) , it is agreed
that, to the fullest extent permitted by Law, the occurrence of any one or more of the following
shall not alter or impair the liability of any Guarantor hereunder, which shall remain absolute and
unconditional as described above:

     (i) at any time or from time to time, without notice to any Guarantor, the time for any
performance of or compliance with any of the Obligations shall be extended, or such
performance or compliance shall be waived;

     (ii) any of the acts mentioned in any of the provisions of any of the Loan Documents,
or other documents relating to the Obligations or any other agreement or instrument referred
to therein shall be done or omitted;

     (iii) the maturity of any of the Obligations shall be accelerated, or any of the
Obligations shall be modified, supplemented or amended in any respect, or any right under
any of the Loan Documents or any other documents relating to the Obligations or any other
agreement or instrument referred to therein shall be waived or any other guarantee of any of
the Obligations or any security therefor shall be released, impaired or exchanged in whole
or in part or otherwise dealt with;

     (iv) any Lien granted to, or in favor of, the Administrative Agent or any holder of the
Obligations as security for any of the Obligations shall fail to attach or be perfected; or

     (v) any of the Obligations shall be determined to be void or voidable (including for
the benefit of any creditor of any Guarantor) or shall be subordinated to the claims of any
Person (including any creditor of any Guarantor).

     (d) With respect to its obligations hereunder, each Guarantor hereby expressly waives
diligence, presentment, demand of payment, protest, notice of acceptance of the guaranty given
hereby and of extensions of credit that may constitute obligations guaranteed hereby, notices of
amendments, waivers, consents and supplements to the Loan Documents and other documents relating to
the Obligations, or the compromise, release or exchange of collateral or security, and all other
notices whatsoever, and any requirement that the Administrative Agent or any holder of the
Obligations exhaust any right, power or remedy or proceed against any Person under any of the Loan
Documents or any other documents relating to the Obligations or any other agreement or instrument
referred to therein, or against any other Person under any other guarantee of, or security for, any
of the Obligations.

     4.03 Reinstatement.

     Neither the Guarantors’ obligations hereunder nor any remedy for the enforcement thereof shall
be impaired, modified, changed or released in any manner whatsoever by an impairment, modification,
change, release or limitation of the liability of the Borrowers, by reason of any Borrower’s
bankruptcy or insolvency or by reason of the invalidity or unenforceability of all or any portion
of the Obligations. In addition, the obligations of each Guarantor under this Article IV
shall be automatically reinstated if and to the extent that for any reason any payment by or on
behalf of any Person in respect of the Obligations is rescinded or must be otherwise restored by
any holder of any of the Obligations, whether as a result of any Debtor Relief Law or otherwise,
and each Guarantor agrees that it will indemnify the Administrative Agent and each holder of the
Obligations on demand for all reasonable costs and expenses (including the fees, charges and
disbursements of counsel) incurred by the Administrative Agent or such holder of the Obligations in
connection with such rescission or restoration, including any such costs and expenses incurred in
defending against any claim alleging that such payment constituted a preference, fraudulent
transfer or similar payment under any Debtor Relief Law.

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4.04 Certain Waivers.

     Each Guarantor acknowledges and agrees that (a) the guaranty given hereby may be enforced
without the necessity of resorting to or otherwise exhausting remedies in respect of any other
security or collateral interests, and without the necessity at any time of having to take recourse
against the Borrowers hereunder or against any collateral securing the Obligations or otherwise,
and (b) it will not assert any right to require that action first be taken against the Borrowers or
any other Person (including any co-guarantor) or pursuit of any other remedy or enforcement any
other right, and (c) nothing contained herein shall prevent or limit action being taken against the
Borrowers hereunder, under the other Loan Documents or the other documents and agreements relating
to the Obligations or, foreclosure on any security or collateral interests relating hereto or
thereto, or the exercise of any other rights or remedies available in respect thereof, if neither
the Borrowers nor the Guarantors shall timely perform their obligations, and the exercise of any
such rights and completion of any such foreclosure proceedings shall not constitute a discharge of
the Guarantors’ obligations hereunder unless as a result thereof, the Obligations shall have been
paid in full, it being the purpose and intent that the Guarantors’ obligations hereunder be
absolute, irrevocable, independent and unconditional under all circumstances. Each Guarantor
agrees that such Guarantor shall have no right of recourse to security for the Obligations, except
through the exercise of rights of subrogation in accordance with to Section 4.02 and
through the exercise of rights of contribution pursuant to Section 4.06.

4.05 Remedies.

     The Guarantors agree that, to the fullest extent permitted by Law, as between the Guarantors,
on the one hand, and holders of the Obligations, on the other hand, the Obligations may be declared
to be forthwith due and payable as provided in Section 9.02 (and shall be deemed to have
become automatically due and payable in the circumstances specified in Section 9.02) for
purposes of Section 4.01 notwithstanding any stay, injunction or other prohibition
preventing such declaration (or preventing the Obligations from becoming automatically due and
payable) as against any other Person and that, in the event of such declaration (or the Obligations
being deemed to have become automatically due and payable), the Obligations (whether or not due and
payable by any other Person) shall forthwith become due and payable by the Guarantors for purposes
of Section 4.01. The Guarantors acknowledge and agree that their obligations hereunder are
secured in accordance with the terms of the Collateral Documents and that the holders of the
Obligations may exercise their remedies thereunder in accordance with the terms thereof.

4.06 Rights of Contribution.

     The Guarantors hereby agree as among themselves that, in connection with payments made
hereunder, each Guarantor shall have a right of contribution from each other Guarantor in
accordance with applicable Law. Such contribution rights shall be subordinate and subject in right
of payment to the Obligations until such time as the Obligations have been irrevocably paid in
full, and none of the Guarantors shall exercise any such contribution rights until the Obligations
have been irrevocably paid in full.

4.07 Guaranty of Payment; Continuing Guarantee.

     (a) The guarantee given by the Guarantors in this Article IV is a guaranty of payment
and not of collection, is a continuing guarantee, and shall apply to all Obligations whenever
arising.

     (b) Reserved.

     (c) If, for any reason, notwithstanding the foregoing, the obligations and agreements of a
Guarantor herein cease to be a continuing security, the liability of such Guarantor hereunder at
the date of

39

 

such cessation shall remain regardless of any subsequent increase or reduction in the amounts
due from any Borrower in respect of the Obligations . To the extent (if at all) relevant, this
perpetuity period for the rights herein contained is 80 years from the date and time of this
Agreement.

ARTICLE V

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

5.01 Conditions of Initial Funding of the Term Loan.

     The obligation of each Lender to make its initial Loan hereunder is subject to satisfaction of
the following conditions precedent:

     (a) Loan Documents. Receipt by the Administrative Agent of executed
counterparts of this Agreement and the other Loan Documents, each properly executed by a
Responsible Officer of the signing Loan Party and, in the case of this Agreement, by each
Lender.

     (b) Opinions of Counsel. Receipt by the Administrative Agent of favorable
opinions of legal counsel to the Loan Parties, addressed to the Administrative Agent and
each Lender, dated as of the Closing Date, and in form and substance satisfactory to the
Administrative Agent.

     (c) Financial Statements. The Administrative Agent shall have received:

     (i) consolidated and consolidating financial statements of TRM and its
Subsidiaries for the fiscal year ended December 31, 2005, including balance sheets
and income and cash flow statements, in each case audited by independent public
accountants of recognized national standing and prepared in conformity with GAAP;
and

     (ii) un-audited consolidated and consolidating financial statements of TRM and
its Subsidiaries for the fiscal quarter ending March 31, 2006, including balance
sheets and statements of income or operations, shareholders’ equity and cash flows
(the “Interim Financial Statements”);

     (iii) pro forma consolidated financial statements (including pro forma balance
sheets) and forecasts of TRM and its Subsidiaries for each year during the term of
this Agreement, including statements of income or operations (the “Pro Forma
Financial Statements”); and

     (iv) a duly authorized certificate from a Responsible Officer of Borrower
Representative (A) stating that actual Consolidated EBITDA for the twelve month
period ending on March 31, 2006 is at least $21,269,000 and (B) demonstrating that
the Consolidated Leverage Ratio as of the Closing Date is not greater than 5.15 to
1.0 (based upon Borrowers’ actual Consolidated EBITDA as of March 31, 2006 but after
giving effect to any Indebtedness incurred on the Closing Date).

     (d) No Material Adverse Change. Other than as specifically identified on
Schedule 5.01(d), there shall not have occurred a material adverse change since
December 31, 2005 in the business, assets, liabilities (actual or contingent), operations,
condition (financial or otherwise) or prospects of TRM and its Domestic Subsidiaries, taken
as a whole.

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     (e) Litigation. There shall not exist any action, suit, investigation or
proceeding pending or threatened in any court or before an arbitrator or Governmental
Authority that could reasonably be expected to have a Material Adverse Effect.

     (f) Organization Documents, Resolutions, Etc. Receipt by the Administrative
Agent of the following, each of which shall be originals or facsimiles (followed promptly by
originals), in form and substance satisfactory to the Administrative Agent and its legal
counsel:

     (i) copies of the Organization Documents of each Loan Party certified to be
true and complete as of a recent date by the appropriate Governmental Authority, if
applicable, of the state or other jurisdiction of its incorporation or organization,
where applicable, and certified by a secretary or assistant secretary of such Loan
Party to be true and correct as of the Closing Date;

     (ii) such certificates of resolutions or other action, incumbency certificates
and/or other certificates of Responsible Officers of each Loan Party as the
Administrative Agent may require evidencing the identity, authority and capacity of
each Responsible Officer thereof authorized to act as a Responsible Officer in
connection with this Agreement and the other Loan Documents to which such Loan Party
is a party; and

     (iii) such documents and certifications as the Administrative Agent may
reasonably require to evidence that each Loan Party is duly organized or formed, and
is validly existing, in good standing and qualified to engage in business in its
state of organization or formation, the state of its principal place of business and
each other jurisdiction where its ownership, lease or operation of properties or the
conduct of its business requires such qualification, except to the extent that
failure to do so could not reasonably be expected to have a Material Adverse Effect.

     (g) Perfection and Priority of Liens. Receipt by the Administrative Agent of
the following:

     (i) searches of Uniform Commercial Code filings (or its equivalent) in the
jurisdiction of formation of each Loan Party, the jurisdiction of the chief
executive office of each Loan Party and each jurisdiction where there are at least
50 ATMs or 600 photocopiers or where a filing would need to be made in order to
perfect the Administrative Agent’s security interest in the Collateral, copies of
the financing statements on file in such jurisdictions and evidence that no Liens
exist other than Permitted Liens;

     (ii) UCC financing statements (or equivalent filings, including PPSA
registrations) for each appropriate jurisdiction as is necessary, in the
Administrative Agent’s sole discretion, to perfect the Administrative Agent’s
security interest in the Collateral;

     (iii) all certificates evidencing any certificated Equity Interests pledged to
the Administrative Agent pursuant to the Collateral Documents, together with duly
executed in blank, undated stock powers or blank stock transfer forms attached
thereto (unless, with respect to the pledged Equity Interests of any Foreign
Subsidiary, such stock powers are deemed unnecessary by the Administrative Agent in
its reasonable discretion under the law of the jurisdiction of incorporation of such
Person);

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     (iv) searches of ownership of, and Liens on, intellectual property of each Loan
Party in the appropriate governmental offices;

     (v) duly executed notices of grant of security interest in the form required by
the Security Agreement or any other applicable Collateral Document as are necessary,
in the Administrative Agent’s sole discretion, to perfect the Administrative Agent’s
security interest in the intellectual property of the Loan Parties; and

     (vi) in the case of any personal property Collateral located at a material
distribution center that is leased by a Loan Party, such estoppel letters, consents,
access agreement and/or waivers from the landlords on such real property as may be
required by the Administrative Agent and be obtained by Borrowers using commercially
reasonable efforts.

     (h) Evidence of Insurance. Receipt by the Administrative Agent of copies of
insurance policies or certificates of insurance of the Loan Parties evidencing liability and
casualty insurance meeting the requirements set forth in the Loan Documents, including, but
not limited to, naming the Administrative Agent as additional insured (in the case of
liability insurance) or loss payee (in the case of hazard or casualty insurance) on behalf
of the Lenders.

     (i) Government Consent. Receipt by the Administrative Agent of evidence that
all governmental, shareholder and material third party consents and approvals necessary in
connection with the transactions contemplated by this Agreement and expiration of all
applicable waiting periods without any action being taken by any authority that could
restrain, prevent or impose any material adverse conditions on the transactions contemplated
hereunder or that could seek or threaten any of the foregoing, and no law or regulation
shall be applicable which in the judgment of the Administrative Agent could have such
effect.

     (j) UK Loan Documents. Receipt by the Administrative Agent of copies of the
fully executed UK Loan Documents, certified by a Responsible Officer of Borrower
Representative as being true, correct and complete, together with evidence that all
conditions precedent to funding thereunder have been either waived or fully satisfied.

     (k) First Lien Loan Documents. Receipt by the Administrative Agent of copies
of the fully executed First Lien Loan Documents, certified by a Responsible Officer of
Borrower Representative as being true, correct and complete, together with (i) evidence that
all conditions precedent to funding thereunder have been either waived or fully satisfied
and (ii) a fully executed counterpart original of the Intercreditor Agreement.

     (l) Reserved..

     (m) Reserved.

     (n) Fees. Receipt by the Administrative Agent and the Lenders of any fees
required to be paid on or before the Closing Date.

     (o) Attorney Costs. Unless waived by the Administrative Agent, the Borrowers
shall have paid all reasonable fees, charges and disbursements of counsel to GSO Capital
Partners and the Administrative Agent.

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     Each Request for Continuation submitted by a Borrower shall be deemed to be a
representation and warranty as to the facts specified and that the conditions specified herein have
been satisfied on and as of the date of the applicable Continuation.

ARTICLE VI

REPRESENTATIONS AND WARRANTIES

     The Loan Parties represent and warrant to the Administrative Agent and the Lenders as
follows:

6.01 Existence, Qualification and Power.

     Each Loan Party (a) is duly organized, incorporated or formed, validly existing and (to the
extent the concept of good standing exists in such jurisdiction) in good standing under the Laws of
the jurisdiction of its incorporation or organization, (b) has all requisite power and authority
and all requisite governmental licenses, authorizations, consents and approvals to (i) own its
assets and carry on its business and (ii) execute, deliver and perform its obligations under the
Loan Documents to which it is a party, and (c) is duly qualified and is licensed and (to the extent
the concept of good standing exists in such jurisdiction) in good standing under the Laws of each
jurisdiction where its ownership, lease or operation of properties or the conduct of its business
requires such qualification or license; except in each case referred to in clause (b)(i) or (c), to
the extent that failure to do so could not reasonably be expected to have a Material Adverse
Effect.

6.02 Authorization; No Contravention.

     The execution, delivery and performance by each Loan Party of each Loan Document to which such
Person is party have been duly authorized by all necessary corporate or other organizational
action, and do not (a) contravene the terms of any of such Person’s Organization Documents; (b)
conflict with or result in any breach or contravention of, or the creation of any Lien under, or
require any payment to be made under (i) any Contractual Obligation to which such Person is a party
or affecting such Person or the properties of such Person or any of its Subsidiaries or (ii) any
order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such
Person or its property is subject; or (c) violate any Law (including, without limitation,
Regulation U or Regulation X issued by the FRB) or any applicable Law or regulation in any relevant
jurisdiction concerning the giving of financial assistance by any Loan Party for the acquisition or
subscription of shares in it or concerning the protection of the shareholders’ capital of such Loan
Party. Each Loan Party is in compliance with all Contractual Obligations referred to in clause
(b)(i), except to the extent that failure to do so could not reasonably be expected to have a
Material Adverse Effect.

6.03 Governmental Authorization; Other Consents.

     No approval, consent, exemption, authorization, or other action by, or notice to, or filing
with, any Governmental Authority or any other Person is necessary or required in connection with
the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement
or any other Loan Document other than (i) those that have already been obtained and are in full
force and effect and (ii) filings to perfect the Liens created by the Collateral Documents.

6.04 Binding Effect.

     Each Loan Document has been duly executed and delivered by each Loan Party that is party
thereto. Each Loan Document constitutes a legal, valid and binding obligation of each Loan Party
that is

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party thereto, enforceable against each such Loan Party in accordance with its terms except as
enforceability may be limited by applicable Debtor Relief Laws or by equitable principals relating
to enforceability.

6.05 Financial Statements; No Material Adverse Effect.

     (a) The Audited Financial Statements (i) were prepared in accordance with GAAP consistently
applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii)
fairly present the financial condition of TRM and its Subsidiaries as of the date thereof and their
results of operations for the period covered thereby in accordance with GAAP consistently applied
throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show
all material indebtedness and other liabilities, direct or contingent, of TRM and its Subsidiaries
as of the date thereof, including liabilities for taxes, commitments and Indebtedness.

     (b) The Interim Financial Statements (i) were prepared in accordance with GAAP consistently
applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii)
fairly present the financial condition of TRM and its Subsidiaries as of the date thereof and their
results of operations for the period covered thereby, subject, in the case of clauses (i) and (ii),
to the absence of footnotes and to normal year-end audit adjustments; and (iii) show all material
indebtedness and other liabilities, direct or contingent, of TRM and its Subsidiaries as of the
date thereof, including liabilities for taxes, material commitments and Indebtedness.

     (c) Other than with respect to forecasts or financial projections contained therein
(which forecasts and projections shall be prepared based on reasonable assumptions consistently
applied), the Pro Forma Financial Statements (a) fairly present in all material respects the
consolidated pro forma financial condition of TRM and its Subsidiaries as at such date and the
consolidated pro forma results of operations of TRM and its Subsidiaries for the period ended on
such date (and the financial statements utilized in preparing such pro forma statements were
prepared in accordance with GAAP) and (b) have been prepared in accordance in all material respects
with the requirements of Regulation S-X under the Securities Act of 1933, as amended, applicable to
a Registration Statement under such Act on Form S-1.

     (d) From the date of the Audited Financial Statements to and including the Closing Date, there
has been no Disposition by TRM or any Subsidiary (other than the sale by TRM of TRM Copy Centres
(U.K.) Limited pursuant to and in accordance with the terms of that certain Sale Purchase Agreement
for the shares of TRM Photocopy Centres (U.K.) Limited by and between TRM Copy Centers (USA)
Corporation, an Oregon Corporation and Digital 4 Convenience PLC incorporated and registered in
England and Wales), or any Involuntary Disposition, of any material part of the business or
Property of TRM and its Subsidiaries, taken as a whole, and no purchase or other acquisition by any
of them of any business or property (including any Equity Interests of any other Person) material
in relation to the consolidated financial condition of TRM and its Subsidiaries, taken as a whole,
in each case, which is not reflected in the foregoing financial statements or in the notes thereto
and has not otherwise been disclosed in writing to the Lenders on or prior to the Closing Date.

     (e) The financial statements delivered pursuant to Section 7.01(a) and (b) after the
Closing Date have been prepared in accordance with GAAP (except as may otherwise be permitted under
Section 7.01(a) and (b)) and present fairly (on the basis disclosed in the
footnotes to such financial statements) the consolidated and, in the case of annual financial
statements delivered pursuant to Section 7.01(a), consolidating, financial condition,
results of operations and cash flows of TRM and its Subsidiaries as of the dates thereof and for
the periods covered thereby.

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     (f) Other than those matters set forth on Schedule 5.01(d), since the date of the
Audited Financial Statements, there has been no event or circumstance that has had or could
reasonably be expected to have a Material Adverse Effect.

6.06 Litigation.

     There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of
the Loan Parties after due inquiry, threatened or contemplated, at law, in equity, in arbitration
or before any Governmental Authority, by or against any Loan Party or against any of their
properties or revenues that (a) purport to affect or pertain to this Agreement or any other Loan
Document, or any of the transactions contemplated hereby or (b) if determined adversely, could
reasonably be expected to have a Material Adverse Effect.

6.07 No Default.

     (a) No Loan Party is in default under or with respect to any Contractual Obligation that could
reasonably be expected to have a Material Adverse Effect.

     (b) No Default has occurred and is continuing.

6.08 Ownership of Property; Liens.

     Each Loan Party has good record and marketable title in fee simple to, or valid leasehold
interests in, all real property necessary or used in the ordinary conduct of its business, except
for such defects in title as could not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect. The property of each Loan Party is subject to no Liens, other than
Permitted Liens.

6.09 Environmental Compliance.

     Except as could not reasonably be expected to have a Material Adverse Effect:

     (a) Each of the Facilities and all operations at the Facilities are in compliance with
all applicable Environmental Laws, and there is no violation of any Environmental Law with
respect to the Facilities or the Businesses, and there are no conditions relating to the
Facilities or the Businesses that could give rise to liability under any applicable
Environmental Laws.

     (b) None of the Facilities contains, or has previously contained, any Hazardous
Materials at, on or under the Facilities in amounts or concentrations that constitute or
constituted a violation of, or could give rise to liability under, Environmental Laws.

     (c) No Loan Party has received any written or verbal notice of, or inquiry from any
Governmental Authority regarding, any violation, alleged violation, non-compliance,
liability or potential liability regarding environmental matters or compliance with
Environmental Laws with regard to any of the Facilities or the Businesses, nor does any
Responsible Officer of any Loan Party have knowledge or reason to believe that any such
notice will be received or is being threatened.

     (d) Hazardous Materials have not been transported or disposed of from the Facilities,
or generated, treated, stored or disposed of at, on or under any of the Facilities or any
other location, in each case by or on behalf any Loan Party in violation of, or in a manner
that would be reasonably likely to give rise to liability under, any applicable
Environmental Law.

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     (e) No judicial proceeding or governmental or administrative action is pending or, to
the knowledge of the Responsible Officers of the Loan Parties, threatened, under any
Environmental Law to which any Loan Party is or will be named as a party, nor are there any
consent decrees or other decrees, consent orders, administrative orders or other orders, or
other administrative or judicial requirements outstanding under any Environmental Law with
respect to any Borrower, any Subsidiary, the Facilities or the Businesses.

     (f) There has been no release or threat of release of Hazardous Materials at or from
the Facilities, or arising from or related to the operations (including, without limitation,
disposal) of any Loan Party in connection with the Facilities or otherwise in connection
with the Businesses, in violation of or in amounts or in a manner that could give rise to
liability under Environmental Laws.

6.10 Insurance.

     Except as has been disclosed to and accepted by the Administrative Agent, the properties of
each Loan Party are insured with financially sound and reputable insurance companies not Affiliates
of TRM, in such amounts, with such deductibles and covering such risks as are customarily carried
by companies engaged in similar businesses and owning similar properties in localities where such
Loan Party operates. The insurance coverage of the Loan Parties as in effect on the Closing Date
is outlined as to carrier, policy number, expiration date, type, amount and deductibles on
Schedule 6.10.

6.11 Taxes.

     Each Loan Party has filed all federal and other material tax returns and reports required to
be filed, and have paid all federal and other material taxes, assessments, fees and other
governmental charges levied or imposed upon them or their properties, income or assets otherwise
due and payable, except those which are being contested in good faith by appropriate proceedings
diligently conducted and for which adequate reserves have been provided in accordance with GAAP.
There is no proposed tax assessment against any Borrower or Guarantor that would, if made, have a
Material Adverse Effect. Neither any Loan Party nor any Subsidiary thereof is party to any tax
sharing agreement.

6.12 ERISA Compliance.

     (a) Each Plan is in compliance in all material respects with the applicable provisions of
ERISA, the Code and other federal or state Laws. Each Plan that is intended to qualify under
Section 401(a) of the Code has received a favorable determination letter from the IRS or an
application for such a letter is currently being processed by the IRS with respect thereto and, to
the best knowledge of the Loan Parties, nothing has occurred which would prevent, or cause the loss
of, such qualification. Each Loan Party and each ERISA Affiliate have made all required
contributions to each Plan subject to Section 412 of the Code, and no application for a funding
waiver or an extension of any amortization period pursuant to Section 412 of the Code has been made
with respect to any Plan.

     (b) There are no pending or, to the best knowledge of the Loan Parties, threatened claims,
actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could
be reasonably be expected to have a Material Adverse Effect. There has been no prohibited
transaction or violation of the fiduciary responsibility rules with respect to any Plan that has
resulted or could reasonably be expected to result in a Material Adverse Effect.

     (c) (i) No ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan
has any Unfunded Pension Liability; (iii) no Loan Party or any ERISA Affiliate has incurred, or
reasonably expects to incur, any liability under Title IV of ERISA with respect to any Pension Plan
(other

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than premiums due and not delinquent under Section 4007 of ERISA); (iv) no Loan Party or any
ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has
occurred which, with the giving of notice under Section 4219 of ERISA, would result in such
liability) under Sections 4201 or 4243 of ERISA with respect to a Multiemployer Plan; and (v) no
Loan Party or any ERISA Affiliate has engaged in a transaction that could be subject to Section
4069 or 4212(c) of ERISA.

6.13 Subsidiaries.

     (a) Set forth on Schedule 6.13 is a complete and accurate list as of the Closing Date
of each Subsidiary of each Loan Party, together with (i) jurisdiction of formation, (ii) number of
shares of each class of Equity Interests outstanding, (iii) number and percentage of outstanding
shares of each class owned (directly or indirectly) by any Borrower or any Guarantor and (iv)
number and effect, if exercised, of all outstanding options, warrants, rights of conversion or
purchase and all other similar rights with respect thereto. The outstanding Equity Interests of
each Subsidiary are validly issued, fully paid and non-assessable.

     (b) None of S-3 Corporation, a Delaware corporation and Wholly Owned Subsidiary of TRM ATM
(“S-3”), Strategic Software Solutions Limited, a company organized under the laws of
England and Wales and a Wholly Owned Subsidiary of S-3 (“SSS”), TRM Services Limited,
(Company No. 05542372), a company organized under the laws of England and Wales, or FPC (France)
Ltd. (collectively, the “Dormant Subsidiaries”) have any assets (other than the equity
interests of SSS, in the case of S-3), liabilities or employees, and none of such Persons conducts
any business or generates any revenues.

6.14 Margin Regulations; Investment Company Act.

     (a) No Borrower is engaged nor will it engage, principally or as one of its important
activities, in the business of purchasing or carrying margin stock (within the meaning of
Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying
margin stock. Following the application of the proceeds of each Borrowing, not more than 25% of
the value of the assets (either of the applicable Borrower only or of TRM and its Subsidiaries on a
consolidated basis) subject to the provisions of Section 8.01 or Section 8.05 or
subject to any restriction contained in any agreement or instrument between a Borrower and any
Lender or any Affiliate of any Lender relating to Indebtedness and within the scope of Section
9.01(e) will be margin stock (as defined in Regulation U).

     (b) No Borrower and no Person Controlling any Borrower, or any Subsidiary is or is required to
be registered as an “investment company” under the Investment Company Act of 1940.

6.15 Disclosure; Material Contracts.

     (a) Each Loan Party has disclosed to the Administrative Agent and the Lenders all agreements,
instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject,
and all other matters known to it, that, individually or in the aggregate, could reasonably be
expected to result in a Material Adverse Effect. No report, financial statement, certificate or
other information furnished (whether in writing or orally) by or on behalf of any Loan Party to the
Administrative Agent or any Lender in connection with the transactions contemplated hereby and the
negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each
case, as modified or supplemented by other information so furnished) 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 Loan Parties represent only that such
information was prepared in good faith based upon assumptions believed to be reasonable at the
time.

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     (B) Schedule 6.15 contains a true, correct and complete list of all the Material
Contracts in effect on the Closing Date, and except as described thereon, all such Material
Contracts are in full force and effect and no defaults currently exist thereunder. Borrowers shall
update and supplement Schedule 6.15 with the delivery of each Compliance Certificate pursuant to
Section 7.02(b) hereof.

6.16 Compliance with Laws.

     Each Loan Party is in compliance with the requirements of all Laws and all orders, writs,
injunctions and decrees applicable to it or to its properties, except in such instances in which
(a) such requirement of Law or order, writ, injunction or decree is being contested in good faith
by appropriate proceedings diligently conducted or (b) the failure to comply therewith could not
reasonably be expected to have a Material Adverse Effect.

6.17 Intellectual Property; Licenses, Etc.

     Each Loan Party owns, or possess the legal right to use, all of the trademarks, service marks,
trade names, copyrights, patents, patent rights, franchises, licenses and other intellectual
property rights (collectively, “IP Rights”) that are reasonably necessary for the operation
of its respective business. Set forth on Schedule 6.17 is a list of all IP Rights
registered or pending registration with the United States Copyright Office and/or the United States
Patent and Trademark Office and owned by each Loan Party as of the Closing Date. Except for such
claims and infringements that could not reasonably be expected to have a Material Adverse Effect,
no claim has been asserted and is pending by any Person challenging or questioning the use of any
IP Rights or the validity or effectiveness of any IP Rights, nor does any Loan Party know of any
such claim, and, to the knowledge of the Responsible Officers of the Loan Parties, the use of any
IP Rights by any Borrower or any Subsidiary or the granting of a right or a license in respect of
any IP Rights from any Borrower or any Subsidiary does not infringe on the rights of any Person.
As of the Closing Date, none of the IP Rights owned by any of the Loan Parties is subject to any
licensing agreement or similar arrangement except as set forth on Schedule 6.17.

6.18 Solvency.

     The Borrowers are Solvent on a consolidated basis. The Loan Parties are Solvent on a
consolidated basis.

6.19 Perfection of Security Interests in the Collateral.

     The Collateral Documents create valid security interests in, and Liens on, the Collateral
purported to be covered thereby, which security interests and Liens are currently perfected
security interests and Liens, prior to all other Liens other than Permitted Liens.

6.20 Business Locations.

     Set forth on Schedule 6.20(a) is a list of all real property that is owned or leased
by the Loan Parties as of the Closing Date other than self storage facilities leased by a Loan
Party and with respect to which (i) the monthly rental is not more than $500 and (ii) not
more than $50,000 of ATM’s, photocopiers or other Property (measured as the higher of fair market
value or book value) is stored or maintained at any given time. Set forth on Schedule
6.20(b) is a list of each jurisdiction where there are at least 50 ATMs or 600 photocopiers as
of the Closing Date. Set forth on Schedule 6.20(c) is the chief executive office, tax
payer identification number and organizational identification number of each Loan Party as of the
Closing Date. The exact legal name and state of organization of each Loan Party is as set forth on
the signature pages hereto. Except as set forth on Schedule 6.20(d), no Loan Party has
during the five years preceding the

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Closing Date (i) changed its legal name, (ii) changed its state of formation, or (iii) been
party to a merger, consolidation or other change in structure.

6.21 Labor Matters.

     There are no collective bargaining agreements or Multiemployer Plans covering the employees of
any Borrower, any Guarantor or any other Subsidiary as of the Closing Date and no Borrower nor any
Subsidiary has suffered any strikes, walkouts, work stoppages or other material labor difficulty
within the last five years.

ARTICLE VII

AFFIRMATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied (other than indemnification obligations for which no
claim ahs been made), each Loan Party shall and shall cause each Subsidiary to:

7.01 Financial Statements.

     Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the
Administrative Agent and the Required Lenders:

     (a) as soon as available, but in any event within ninety days after the end of each
fiscal year of TRM, a consolidated and consolidating balance sheet of TRM and its
Subsidiaries as at the end of such fiscal year, and the related consolidated and
consolidating statements of income or operations, shareholders’ equity and cash flows for
such fiscal year, setting forth in each case in comparative form the figures for the
previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, audited
and accompanied by a report and opinion of PricewaterhouseCoopers LLP, another independent
certified public accounting firm of nationally recognized standing or an independent
certified public accounting firm otherwise reasonably acceptable to the Required Lenders,
which report and opinion shall be prepared in accordance with generally accepted auditing
standards and shall not be subject to any “going concern” or like qualification or exception
or any qualification or exception as to the scope of such audit; and

     (b) as soon as available, but in any event within thirty days after the end of each
month, un-audited monthly balance sheets, income statements and cash flow statements (in
the same form as delivered pursuant to clause (c) below) and a report setting forth certain
operational metrics in the form and with the degree of specificity set forth in Exhibit
7.01(b) attached hereto.

     (c) as soon as available, but in any event within forty-five days after the end of each
of the first three fiscal quarters of each fiscal year of TRM, a consolidated and
consolidating balance sheet of TRM and its Subsidiaries as at the end of such fiscal
quarter, and the related consolidated and consolidating statements of income or operations,
shareholders’ equity and cash flows for such fiscal quarter and for the portion of TRM’s
fiscal year then ended, setting forth in each case in comparative form the figures for the
corresponding fiscal quarter of the previous fiscal year and the corresponding portion of
the previous fiscal year, all in reasonable detail and certified by a Responsible Officer of
TRM as fairly presenting the financial condition, results of operations, shareholders’
equity and cash flows of TRM and its Subsidiaries in accordance with GAAP, subject only to
normal year-end audit adjustments and the absence of footnotes.

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As to any information contained in materials furnished pursuant to Section 7.02(d),
TRM shall not be separately required to furnish such information under clause (a) or (b)
above, but the foregoing shall not be in derogation of the obligation of TRM to furnish the
information and materials described in clauses (a) and (b) above at the times specified
therein.

7.02 Certificates; Other Information.

     Deliver to the Administrative Agent and each Lender, in form and detail reasonably
satisfactory to the Administrative Agent and the Required Lenders:

     (a) concurrently with the delivery of the financial statements referred to in
Section 7.01(a), a certificate of its independent certified public accountants
certifying such financial statements and stating that in making the examination necessary
therefor no knowledge was obtained of any Default in respect of Section 8.11 or, if
any such Default shall exist, stating the nature and status of such event;

     (b) concurrently with the delivery of the financial statements referred to in
Sections 7.01(a) and (c), a duly completed Compliance Certificate signed by
a Responsible Officer of Borrower Representative on behalf of all the Borrowers;

     (c) not later than 90 days after the end of each fiscal year of TRM, beginning with the
fiscal year ending December 31, 2006, (i) an annual business plan and budget of TRM and its
Subsidiaries containing, among other things, pro forma financial statements for each quarter
of the next fiscal year and a budget for each month of such year detailing key business
drivers and assumptions, and (ii) an Excess Cash Flow Certificate in substantially the form
of Exhibit 7.02(c) hereto.

     (d) concurrently with the delivery of the financial statements referred to in
Sections 7.01(a) and (c), a certificate of a Responsible Officer of Borrower
Representative containing information regarding the amount of all Dispositions (other than
Permitted Transfers), Involuntary Dispositions, Equity Issuances, Debt Issuances and
Acquisitions that occurred during the period covered by such financial statements with
respect to any Loan Party.

     (e) promptly after any request by the Administrative Agent or any Lender, copies of any
detailed audit reports, management letters or recommendations submitted to the board of
directors (or the audit committee of the board of directors) of TRM by independent
accountants in connection with the accounts or books of TRM or any Subsidiary, or any audit
of any of them;

     (f) promptly after the furnishing thereof, copies of any statement or report furnished
to any holder of debt securities of any Loan Party or any Subsidiary thereof pursuant to the
terms of any indenture, loan or credit or similar agreement and not otherwise required to be
furnished to the Lenders pursuant to Section 7.01 or any other clause of this Section 7.02;

     (g) promptly, and in any event within five Business Days after receipt thereof by any
Loan Party or any Subsidiary thereof, copies of each notice or other correspondence received
from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any
investigation or possible investigation or other inquiry by such agency regarding financial
or other operational results of any Loan Party or any Subsidiary thereof;

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     (h) promptly, such additional information regarding the business, financial or
corporate affairs of any Loan Party, or compliance with the terms of the Loan Documents, as
the Administrative Agent or any Lender may from time to time reasonably request; and

     (i) concurrently with the delivery of the financial statements referred to in
Sections 7.01(a) and (b), a certificate of a Responsible Officer of Borrower
Representative (i) listing (A) all applications, if any, for Copyrights, Patents or
Trademarks (each such term as defined in the Security Agreement) made since the date of the
prior certificate (or, in the case of the first such certificate, the Closing Date) by or
behalf of any Loan Party, (B) all issuances of registrations or letters on existing
applications for Copyrights, Patents and Trademarks (each such term as defined in the
Security Agreement) received since the date of the prior certificate (or, in the case of the
first such certificate, the Closing Date) with respect to any Loan Party, and (C) all
Trademark Licenses, Copyright Licenses and Patent Licenses (each such term as defined in the
Security Agreement) entered into by any Borrower or Subsidiary since the date of the prior
certificate (or, in the case of the first such certificate, the Closing Date), and (ii)
attaching the insurance binder or other evidence of insurance for any insurance coverage of
each Borrower or any Subsidiary that was renewed, replaced or modified during the period
covered by such financial statements.

     Documents required to be delivered pursuant to Section 7.01(a) or (b) or
Section 7.02(d) (to the extent any such documents are included in materials otherwise filed
with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been
delivered on the date (i) on which TRM posts such documents, or provides a link thereto on TRM’s
website on the Internet at the website address listed on Schedule 11.02; or (ii) on which
such documents are posted on TRM’s behalf on an Internet or intranet website, if any, to which each
Lender and the Administrative Agent have access (whether a commercial, third-party website or
whether sponsored by the Administrative Agent); provided that: (i) TRM shall deliver paper
copies of such documents to the Administrative Agent or any Lender that requests TRM to deliver
such paper copies until a written request to cease delivering paper copies is given by the
Administrative Agent or such Lender and (ii) TRM shall notify the Administrative Agent and each
Lender (by telecopier or electronic mail) of the posting of any such documents and provide to the
Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such
documents. Notwithstanding anything contained herein, in every instance TRM shall be required to
provide paper copies of the Compliance Certificates required by Section 7.02(b) to the
Administrative Agent. Except for such Compliance Certificates, the Administrative Agent shall have
no obligation to request the delivery or to maintain copies of the documents referred to above, and
in any event shall have no responsibility to monitor compliance by Borrower Representative with any
such request for delivery, and each Lender shall be solely responsible for requesting delivery to
it or maintaining its copies of such documents.

7.03 Notices.

     (a) Promptly (and in any event, within two Business Days) notify the Administrative Agent and
each Lender of the occurrence of any Default.

     (b) Promptly notify the Administrative Agent and each Lender of any matter that has resulted
or could reasonably be expected to result in a Material Adverse Effect, including (i) breach or
non-performance of, or any default under, a Contractual Obligation of any Borrower or any
Subsidiary; (ii) any dispute, litigation, investigation, proceeding or suspension between a
Borrower or any Subsidiary and any Governmental Authority; or (iii) the commencement of, or any
material development in, any litigation or proceeding affecting any Borrower or any Subsidiary,
including pursuant to any applicable Environmental Laws.

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     (c) Promptly notify the Administrative Agent and each Lender of the occurrence of any ERISA
Event.

     (d) Promptly notify the Administrative Agent and each Lender of any material change in
accounting policies or financial reporting practices by TRM, any other Borrower or any Subsidiary.

     Each notice pursuant to this Section 7.03(a) through (d) shall be accompanied
by a statement of a Responsible Officer of Borrower Representative setting forth details of the
occurrence referred to therein and stating what action TRM or the applicable Borrower has taken and
proposes to take with respect thereto. Each notice pursuant to Section 7.03(a) shall
describe with particularity any and all provisions of this Agreement and any other Loan Document
that have been breached.

7.04 Payment of Obligations.

     Pay and discharge, as the same shall become due and payable, all its obligations and
liabilities, including (a) all material tax liabilities, assessments and governmental charges or
levies upon it or its properties or assets, unless the same are being contested in good faith by
appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are
being maintained by the applicable Borrower or such Subsidiary; and (b) all lawful claims which, if
unpaid, would by law become a Lien (other than a Permitted Lien) upon its property.

7.05 Preservation of Existence, Etc.

     (a) Except with respect to the Dormant Subsidiaries, preserve, renew and maintain in full
force and effect its legal existence under the Laws of the jurisdiction of its organization except
in a transaction permitted by Section 8.04 or 8.05.

     (b) To the extent that the concept of good standing exists in the applicable jurisdiction,
preserve, renew and maintain in full force and effect its good standing under the Laws of the
jurisdiction of its organization, except to the extent the failure to do so could not reasonably be
expected to have a Material Adverse Effect.

     (c) Take all reasonable action to maintain all rights, privileges, permits, licenses and
franchises necessary or desirable in the normal conduct of its business, except to the extent that
the failure to do so could not reasonably be expected to have a Material Adverse Effect.

     (d) Preserve or renew all of its material registered patents, copyrights, trademarks, trade
names and service marks, the non-preservation of which could reasonably be expected to have a
Material Adverse Effect.

7.06 Maintenance of Properties.

     (a) Maintain, preserve and protect all of its material properties and equipment necessary in
the operation of its business in good working order and condition, ordinary wear and tear excepted.

     (b) Make all necessary repairs thereto and renewals and replacements thereof, except where the
failure to do so could not reasonably be expected to have a Material Adverse Effect.

     (c) Use the standard of care typical in the industry in the operation and maintenance of its
facilities.

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7.07 Maintenance of Insurance.

     Maintain in full force and effect insurance (including worker’s compensation insurance,
liability insurance, casualty insurance and business interruption insurance) with financially sound
and reputable insurance companies not Affiliates of TRM, in such amounts, with such deductibles and
covering such risks as are customarily carried by companies engaged in similar businesses and
owning similar properties in localities where each Borrower or the applicable Subsidiary operates.
The Administrative Agent shall be named as loss payee or mortgagee, as its interest may appear,
and/or additional insured with respect to any such insurance providing coverage in respect of any
Collateral, and each provider of any such insurance shall agree, by endorsement upon the policy or
policies issued by it or by independent instruments furnished to the Administrative Agent, that it
will give the Administrative Agent thirty (30) days prior written notice before any such policy or
policies shall be altered or canceled.

7.08 Compliance with Laws.

     Comply with the requirements of all Laws and all orders, writs, injunctions and decrees
applicable to it or to its business or property, except in such instances in which (a) such
requirement of Law or order, writ, injunction or decree is being contested in good faith by
appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not
reasonably be expected to have a Material Adverse Effect.

7.09 Books and Records.

     (a) Maintain proper books of record and account, in which full, true and correct entries in
conformity with GAAP consistently applied shall be made of all financial transactions and matters
involving the assets and business of a Borrower or such Subsidiary, as the case may be.

     (b) Maintain such books of record and account in material conformity with all applicable
requirements of any Governmental Authority having regulatory jurisdiction over any Borrower or such
Subsidiary, as the case may be.

7.10 Inspection Rights.

     (a) Permit representatives and independent contractors of the Administrative Agent and each
Lender, upon two Business Day’s prior notice, to visit and inspect any of its properties, to
examine its corporate, financial and operating records, and make copies thereof or abstracts
therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and
independent public accountants, all at the expense of the Borrowers and at such reasonable times
during normal business hours and as often as may be reasonably desired; provided,
however, that (i) if no Event of Default exists, the Borrowers shall not be required to pay
the expenses of more than two (2) such inspection/examination during any calendar year and there
shall be no more than three such inspections or examinations during any calendar year unless
Required Lenders, in their good faith judgment, believe that there has been a material adverse
change in the business or assets of a Borrower or Subsidiary, and (ii) when an Event of Default
exists the Administrative Agent or any Lender (or any of their respective representatives or
independent contractors) may do any of the foregoing at the expense of the Borrowers at any time
during normal business hours and without advance notice.

     (b) If a Default exists and if requested by the Administrative Agent in its sole discretion,
permit the Administrative Agent, and its representatives, upon reasonable advance notice to
Borrower Representative, to conduct an annual audit of the Collateral at the expense of the
Borrowers.

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     (c) If a Default exists and if requested by the Administrative Agent in its sole discretion,
promptly deliver to the Administrative Agent (a) asset appraisal reports with respect to all of the
real and personal property owned by any Borrower and its Subsidiaries, and (b) a written audit of
the accounts receivable, inventory, payables, controls and systems of any Borrower and its
Subsidiaries.

7.11 Use of Proceeds.

     Use the proceeds of the Term Loan (a) for any lawful corporate purpose, and (b) to refinance
certain Indebtedness (including letters of credit) existing under that certain Credit Agreement
dated as of November 19, 2004 by and among TRM, TRM Ltd, Bank of America, N.A. and the other
Lenders a party thereto, provided that in no event shall the proceeds of the Loans be used
in contravention of any Law or of any Loan Document.

7.12 Additional Subsidiaries.

     Within thirty (30) days (or such longer period as the Administrative Agent shall permit in its
discretion) after the acquisition or formation of any Subsidiary:

     (a) notify the Administrative Agent thereof in writing, together with the (i)
jurisdiction of formation, (ii) number of shares of each class of Equity Interests
outstanding, (iii) number and percentage of outstanding shares of each class owned (directly
or indirectly) by any Loan Party and (iv) number and effect, if exercised, of all
outstanding options, warrants, rights of conversion or purchase and all other similar rights
with respect thereto; and

     (b) if such Subsidiary is a Domestic Subsidiary, cause such Person to (i) become a
Guarantor by executing and delivering to the Administrative Agent a Joinder Agreement or
such other documents as the Administrative Agent shall reasonably deem appropriate for such
purpose, and (ii) deliver to the Administrative Agent documents of the types referred to in
Sections 5.01(f) and (g) and favorable opinions of counsel to such Person
(which shall cover, among other things, the legality, validity, binding effect and
enforceability of the documentation referred to in clause (a)), all in form, content and
scope reasonably satisfactory to the Administrative Agent.

7.13 ERISA Compliance.

     Do, and cause each of its ERISA Affiliates to do, each of the following: (a) maintain each
Plan in compliance in all material respects with the applicable provisions of ERISA, the Code and
other federal or state law; (b) cause each Plan that is qualified under Section 401(a) of the Code
to maintain such qualification; and (c) make all required contributions to any Plan subject to
Section 412 of the Code.

7.14 Pledged Assets.

     (a) Equity Interests. To secure the Obligations, the Loan Parties will cause: (A)
100% of the issued and outstanding Equity Interests of each Domestic Subsidiary (within 30 days, or
such later time designated in writing by the Administrative Agent) and (B) 65% (or such greater
percentage that, due to a change in an applicable Law after the date hereof, (1) could not
reasonably be expected to cause the undistributed earnings of such Foreign Subsidiary as determined
for United States federal income tax purposes to be treated as a deemed dividend to such Foreign
Subsidiary’s United States parent and (2) could not reasonably be expected to cause any material
adverse tax consequences) of the issued and outstanding Equity Interests entitled to vote (within
the meaning of Treas. Reg. Section 1.956-2(c)(2)) and 100% of the issued and outstanding Equity
Interests not entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2)) in each
Foreign Subsidiary directly owned by any Borrower or any of its Domestic

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Subsidiary (within 60 days, or such later time designated in writing by the Administrative
Agent) to be subject at all times to a first priority, perfected Lien in favor of the
Administrative Agent pursuant to the terms and conditions of the Collateral Documents, together
with opinions of counsel and any filings and deliveries reasonably necessary in connection
therewith to perfect the security interests therein, all in form and substance reasonably
satisfactory to the Administrative Agent.

     (b) Other Property. Each Loan Party will mortgage, pledge and grant a security
interest in all of its owned and leased Property (except (a) Excluded Property and (b) as otherwise
set forth in Section 7.14(a) with respect to Equity Interests of Subsidiaries), within 30
days (or such later time designated in writing by the Administrative Agent) of the acquisition
thereof (in the case of any such personal property) and within 90 days (or such later time
designated in writing by the Administrative Agent) of the acquisition thereof (in the case of any
such real property), in each case pursuant to such mortgage instruments, pledge and security
agreements, joinder agreements, title insurance or other documents, together with opinions of
counsel and any filings and deliveries reasonably requested by the Administrative Agent in
connection therewith to perfect the security interests therein, all in form and substance
reasonably satisfactory to the Administrative Agent, with respect to the Loan Parties, to secure
the Obligations.

7.15 Reserved.

7.16 Dormant Subsidiaries.

     Borrowers shall not contribute Property to or otherwise Invest in any Dormant Subsidiary or
permit such Dormant Subsidiaries to incur any liabilities or conduct any business of any nature
whatsoever unless Borrowers (i) provide Administrative Agent with not less than ten Business Day’s
prior written notice of the intent to Invest in or conduct business through such Dormant
Subsidiary, (ii) pledge all of the issued and outstanding equity securities of such Dormant
Subsidiary to Administrative Agent pursuant to pledge agreement substantially similar to those
agreements executed in connection with the closing of this Agreement, and (iii) cause such Dormant
Subsidiary to join the Guaranty and to grant a Lien upon all of its Property in favor of
Administrative Agent to secure its obligations under the Guaranty.

7.17 Miscellaneous Assurances.

     The Loan Parties will cause all monies collected on account of transactions utilizing ATMs
owned or managed by or otherwise under contract with a Borrower and located in the United States to
be deposited promptly to the “ATM Fee Settlement Account” maintained in TRM’s name at US Bank
pursuant to the US Vault Cash Agreement and then, within three (3) days of the receipt thereof,
transferred from such account to a deposit account maintained with Wells Fargo and with respect to
which Administrative Agent shall have a first priority perfected security interest (“Borrowers’
Operating Account”). Notwithstanding the foregoing, no less frequently than once every
Business Day, the Borrowers shall transfer all funds accumulated in such ATM Fee Settlement Account
(other than $75,000 which may remain in such account to the extent required by US Bank) to
Borrower’s Operating Account. Within 30 days of the Closing Date, the Borrowers shall provide
evidence reasonably acceptable to Administrative Agent that US Bank has been irrevocably instructed
to initiate such daily transfers to Borrowers’ Operating Account on an automatic basis without
consent or direct of any Loan Party, which written instructions shall provide that they may not be
rescinded, altered or otherwise modified without the Administrative Agent’s prior written consent.

     Borrowers represent and warrant that the securities accounts and deposit accounts listed on
Schedule 6 of the Security Agreement are all deposit, securities or other similar accounts owned or

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maintained by any Borrower or Subsidiary in Canada (collectively, the “Canadian
Accounts”) and that there are no other accounts in Canada into which any revenue (including
payments made to any Loan Party in connection with the Canadian Vault Cash Agreement) is or will be
deposited, collected or held. Without limiting or qualifying any other provision of this
Agreement, but subject to the limitations set forth below, Borrowers hereby agree to transfer, or
to cause their Affiliates or Subsidiaries to transfer to Borrowers’ Operating Account, funds from
time to time on deposit in any Canadian Account if and to the extent the balance in such Canadian
Accounts shall at any time to exceed 1,000,000 Canadian dollars, in the aggregate.

ARTICLE VIII

NEGATIVE COVENANTS

     So long as any Loan or other Obligation hereunder shall remain unpaid or unsatisfied (other
than indemnification obligations for which no claim has been made), no Loan Party shall, nor shall
it permit any Subsidiary (for purposes of this Article VIII only, TRM LTD shall not be deemed a
Subsidiary of TRM) to, directly or indirectly:

8.01 Liens.

     Create, incur, assume or suffer to exist any Lien upon any of its property, assets or
revenues, whether now owned or hereafter acquired, other than the following:

     (a) Liens pursuant to any Loan Document;

     (b) Liens existing on the date hereof and listed on Schedule 8.01 and any
renewals or extensions thereof, provided that (i) the Property covered thereby is
not changed, (ii) the amount secured or benefited thereby is not increased, (iii) the direct
or any contingent obligor with respect thereto is not changed, and (iv) any renewal or
extension of the obligations secured or benefited thereby is permitted by Section
8.03(b);

     (c) Liens (other than Liens imposed under ERISA) for taxes, assessments or governmental
charges or levies that either (i) are not yet due or (ii) do not have priority over the
Liens granted to the Administrative Agent pursuant to the Security Agreement which are being
contested in good faith and by appropriate proceedings diligently conducted, if adequate
reserves with respect thereto are maintained on the books of the applicable Person in
accordance with GAAP;

     (d) statutory Liens of landlords and Liens of carriers, warehousemen, mechanics,
materialmen and suppliers and other Liens imposed by law or pursuant to customary
reservations or retentions of title arising in the ordinary course of business,
provided that such Liens secure only amounts not yet due and payable or, if due and
payable, are un-filed and no other action has been taken to enforce the same or are being
contested in good faith by appropriate proceedings for which adequate reserves determined in
accordance with GAAP have been established;

     (e) pledges or deposits in the ordinary course of business in connection with workers’
compensation, unemployment insurance and other social security legislation, other than any
Lien imposed by ERISA;

     (f) deposits to secure the performance of bids, trade contracts and leases (other than
Indebtedness), statutory obligations, surety bonds (other than bonds related to judgments or

56

 

litigation), performance bonds and other obligations of a like nature incurred in the
ordinary course of business;

     (g) easements, rights-of-way, restrictions and other similar encumbrances affecting
real property which, in the aggregate, are not substantial in amount, and which do not in
any case materially detract from the value of the property subject thereto or materially
interfere with the ordinary conduct of the business of the applicable Person;

     (h) Liens securing judgments for the payment of money (or appeal or other surety bonds
relating to such judgments) not in violation of Section 9.01(h);

     (i) Liens securing Indebtedness permitted under Section 8.03(e);
provided that (i) such Liens do not at any time encumber any Property other than the
Property financed by such Indebtedness, (ii) the Indebtedness secured thereby does not
exceed the cost or fair market value, whichever is lower, of the Property being acquired on
the date of acquisition and (iii) such Liens attach to such Property concurrently with or
within ninety days after the acquisition thereof;

     (j) leases or subleases granted to others not interfering in any material respect with
the business of any Borrower or any of its Subsidiaries;

     (k) any interest of title of a lessor under, and Liens arising from UCC financing
statements (or equivalent filings, registrations or agreements in foreign jurisdictions)
relating to, leases permitted by this Agreement;

     (l) Liens deemed to exist in connection with Investments in repurchase agreements
permitted under Section 8.02;

     (m) normal and customary rights of setoff upon deposits of cash in favor of banks or
other depository institutions;

     (n) Liens of a collection bank arising under Section 4-210 of the Uniform Commercial
Code on items in the course of collection;

     (o) Liens of sellers of goods to a Borrower and any of its Subsidiaries arising under
Article 2 of the Uniform Commercial Code or similar provisions of applicable law in the
ordinary course of business, covering only the goods sold and securing only the unpaid
purchase price for such goods and related expenses;

     (p) Liens securing the First Lien Indebtedness;

     (q) Liens securing the obligations and Indebtedness arising under the Vault Cash
Agreements; and

     (r) other Liens securing obligations not exceeding $2,500,000 in the aggregate
outstanding at any one time so long as such Liens do not have priority over the Liens
granted to the Administrative Agent pursuant to the Security Agreement.

8.02 Investments.

     Make or hold any Investments, except:

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     (a) Investments held by a Borrower or such Subsidiary in the form of cash or Cash
Equivalents;

     (b) Investments existing as of the Closing Date and set forth in Schedule 8.02;

     (c) Investments in a Borrower or any Domestic Subsidiary that is a Loan Party (other
than in any Dormant Subsidiary, except as otherwise expressly permitted under Section 7.16
hereof) made after the Closing Date, exclusive of Investments scheduled on Schedule
8.02, Investments in Borrowers and Subsidiaries thereof as existing on the Closing Date
and Investments made by Borrowers in Foreign Subsidiaries after the Closing Date in an
amount not to exceed $1,000,000 in the aggregate at any time outstanding, provided
that any such Investments by TRM in TRM LTD shall be made only for purposes of funding
working capital requirements of TRM LTD in the ordinary course of business in an aggregate
amount not to exceed $1,000,000 at any time outstanding and shall be evidenced by a
promissory note having terms reasonably satisfactory to Administrative Agent, the sole
originally executed counterpart of which shall be pledged and delivered to Administrative
Agent, for the benefit of the Lenders, as security for the Obligations;

     (d) Investments consisting of extensions of credit in the nature of accounts receivable
or notes receivable arising from the grant of trade credit in the ordinary course of
business, and Investments received in satisfaction or partial satisfaction thereof from
financially troubled account debtors to the extent reasonably necessary in order to prevent
or limit loss;

     (e) Guarantees permitted by Section 8.03; and

     (f) Investments of a nature not contemplated in the foregoing clauses in an amount not
to exceed $100,000 in the aggregate during any fiscal year of TRM; provided that the
unutilized portion of such amount in a fiscal year may be utilized in the immediately
following fiscal year, but not in any subsequent fiscal year.

8.03  Indebtedness.

     Create, incur, assume or suffer to exist any Indebtedness, except:

     (a) Indebtedness under the Loan Documents;

     (b) Indebtedness of the Borrowers and their Subsidiaries set forth in Schedule
8.03 (and renewals, refinancings and extensions thereof; provided that (i) the
amount of such Indebtedness is not increased at the time of such refinancing, refunding,
renewal or extension except by an amount equal to a reasonable premium or other reasonable
amount paid, and fees and expenses reasonably incurred, in connection with such refinancing
and by an amount equal to any existing commitments unutilized thereunder and (ii) the terms
relating to principal amount, amortization, maturity, collateral (if any) and subordination
(if any), and other material terms taken as a whole, of any such refinancing, refunding,
renewing or extending Indebtedness, and of any agreement entered into and of any instrument
issued in connection therewith, are no less favorable in any material respect to the Loan
Parties or the Lenders than the terms of any agreement or instrument governing the
Indebtedness being refinanced, refunded, renewed or extended and the interest rate
applicable to any such refinancing, refunding, renewing or extending Indebtedness does not
exceed the then applicable market interest rate;

     (c) intercompany Indebtedness to the extent permitted under Section 8.02;

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     (d) obligations (contingent or otherwise) of a Borrower or any Subsidiary existing or
arising under any Swap Contract, provided that (i) such obligations are (or were)
entered into by such Person in the ordinary course of business for the purpose of directly
mitigating risks associated with liabilities, commitments, investments, assets, operations
or property held or reasonably anticipated by such Person, or changes in the value of
securities issued by such Person, and not for purposes of speculation or taking a “market
view;” and (ii) such Swap Contract does not contain any provision exonerating the
non-defaulting party from its obligation to make payments on outstanding transactions to the
defaulting party;

     (e) purchase money Indebtedness (including obligations in respect of Capital Leases or
Synthetic Leases) hereafter incurred by a Borrower or any of its Subsidiaries to finance the
purchase of fixed assets, and renewals, refinancings and extensions thereof,
provided that (i) the total of all such Indebtedness for all such Persons taken
together shall not exceed an aggregate principal amount of $3,000,000 at any one time
outstanding; (ii) such Indebtedness when incurred shall not exceed the purchase price of the
asset(s) financed; and (iii) no such Indebtedness shall be refinanced for a principal amount
in excess of the principal balance outstanding thereon at the time of such refinancing;

     (f) other unsecured Indebtedness in an aggregate principal amount at any one time
outstanding not to exceed (i) $100,000 at any time on or prior to December 31, 2006 and (ii)
$250,000 at any time after December 31, 2006;

     (g) The UK Indebtedness, the First Lien Indebtedness and Indebtedness arising under the
Vault Cash Agreements, in each case arising under and as evidenced by the applicable
documents as in affect as of the date hereof; and

     (g) Guarantees with respect to Indebtedness permitted under clauses (a) through (g) of
this Section 8.03.

8.04 Fundamental Changes.

     Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in
one transaction or in a series of transactions) all or substantially all of its assets (whether now
owned or hereafter acquired) to or in favor of any Person; provided that, notwithstanding the
foregoing provisions of this Section 8.04 but subject to the terms of Sections 7.12
and 7.14, (a) TRM may merge or consolidate with any of its Subsidiaries provided that TRM
shall be the continuing or surviving corporation, (b) any Borrower, may merge or consolidate with
any other Borrower (other than TRM) or any of its Subsidiaries provided that such Borrower shall be
the continuing or surviving Person, (b) any Guarantor may merge or consolidate with any other
Guarantor, and (c) any Subsidiary may dissolve, liquidate or wind up its affairs at any time
provided that such dissolution, liquidation or winding up, as applicable, could not reasonably be
expected to have a Material Adverse Effect.

8.05 Dispositions.

     Make any Disposition except:

     (a) Permitted Transfers;

     (b) other Dispositions so long as (i) not less than 75% of the consideration paid in
connection therewith shall be cash or Cash Equivalents paid contemporaneous with consummation of
the transaction and shall be in an amount not less than the fair market value of the Property
disposed of, (ii) such transaction does

59

 

not involve the sale or other disposition of a minority equity interest in any Subsidiary,
(iii) such transaction does not involve a sale or other disposition of receivables other than
receivables owned by or attributable to other Property concurrently being disposed of in a
transaction otherwise permitted under this Section 8.05, and (iv) the aggregate net book
value of all of the assets sold or otherwise disposed of by the Borrowers and their Subsidiaries in
all such transactions in any fiscal year shall not exceed $1,000,000; and

     (c) any Disposition not included in clauses (a) and (b) above which is consented to by
Required Lenders, which consent shall not be unreasonably withheld or delayed but may be
conditioned as the Lenders shall reasonably require.

8.06 Restricted Payments.

     Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation
(contingent or otherwise) to do so, except that:

     (a) each Subsidiary may make Restricted Payments to the Loan Parties and any other
Person that owns an Equity Interest in such Subsidiary, ratably according to their
respective holdings of the type of Equity Interest in respect of which such Restricted
Payment is being made; and

     (b) TRM, each other Borrower and each Subsidiary may declare and make dividend payments
or other distributions payable solely in the Equity Interests of such Person.

8.07 Change in Nature of Business.

     Engage in any material line of business substantially different from those lines of business
conducted by Borrowers and their Subsidiaries on the Closing Date or any business substantially
related or incidental thereto.

8.08 Transactions with Affiliates and Insiders.

     Enter into or permit to exist any transaction or series of transactions with any officer,
director or Affiliate of such Person other than (a) advances of working capital to any Loan Party,
(b) transfers of cash and assets to any Loan Party, (c) intercompany transactions expressly
permitted by Section 8.02, Section 8.03, Section 8.04, Section 8.05
or Section 8.06, (d) normal and reasonable compensation and reimbursement of expenses of
officers and directors and (e) except as otherwise specifically limited in this Agreement, other
transactions which are entered into in the ordinary course of such Person’s business on terms and
conditions substantially as favorable to such Person as would be obtainable by it in a comparable
arms-length transaction with a Person other than an officer, director or Affiliate.

8.09 Burdensome Agreements.

     (a) Enter into, or permit to exist, any Contractual Obligation that encumbers or restricts on
the ability of any such Person to (i) pay dividends or make any other distributions to any Loan
Party on its Equity Interests or with respect to any other interest or participation in, or
measured by, its profits, (ii) pay any Indebtedness or other obligation owed to any Loan Party,
(iii) make loans or advances to any Loan Party, (iv) sell, lease or transfer any of its Property to
any Loan Party, (v) pledge its Property pursuant to the Loan Documents or any renewals,
refinancings, exchanges, refundings or extension thereof or (vi) act as a Loan Party pursuant to
the Loan Documents or any renewals, refinancings, exchanges, refundings or extension thereof,
except (in respect of any of the matters referred to in clauses (i)-(v) above) for (1) this
Agreement and the other Loan Documents, (2) any document or instrument governing Indebtedness

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incurred pursuant to Section 8.03(e), provided that any such restriction
contained therein relates only to the asset or assets constructed or acquired in connection
therewith, (3) any Permitted Lien or any document or instrument governing any Permitted Lien,
provided that any such restriction contained therein relates only to the asset or assets
subject to such Permitted Lien or (4) customary restrictions and conditions contained in any
agreement relating to the sale of any Property permitted under Section 8.05 pending the
consummation of such sale.

     (b) Enter into, or permit to exist, any Contractual Obligation that prohibits or otherwise
restricts the existence of any Lien upon any of its Property in favor of the Administrative Agent
(for the benefit of the Lenders) for the purpose of securing the Obligations, whether now owned or
hereafter acquired, or requiring the grant of any security for any obligation if such Property is
given as security for the Obligations, except (i) any document or instrument governing Indebtedness
incurred pursuant to Section 8.03(e), provided that any such restriction contained
therein relates only to the asset or assets constructed or acquired in connection therewith, (ii)
in connection with any Permitted Lien or any document or instrument governing any Permitted Lien,
provided that any such restriction contained therein relates only to the asset or assets
subject to such Permitted Lien and (iii) pursuant to customary restrictions and conditions
contained in any agreement relating to the sale of any Property permitted under Section
8.05, pending the consummation of such sale.

8.10 Use of Proceeds.

     Use the proceeds of the Term Loan, whether directly or indirectly, and whether immediately,
incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U
of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or
to refund indebtedness originally incurred for such purpose.

8.11 Financial Covenants.

     (a) Minimum EBITDA. Permit their Consolidated EBITDA for any twelve (12) consecutive
month period ending on the last day of each calendar quarter (or, if any portion of such period
precedes the Closing Date, for the period commencing on the Closing Date and ending on such date,
expressed on an annualized basis in accordance with the methodology set forth in the Compliance
Certificate) to be less than $20,000,000.

     (b) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as of the end
of any fiscal quarter of TRM for the twelve (12) consecutive month period ending on such date set
forth below to be greater than the ratio corresponding to such fiscal quarter (using annualized
EBITDA amounts in accordance with clause (a) above, to the extent applicable):

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Fiscal	 	 	 	 	 	 	 	 
	Year	 	March 31	 	June 30	 	September 30	 	December 31
	 	2006	 	 	 	n/a	 	 	 	5.35	 	 	 	4.85	 	 	 	4.85	 
	 	2007	 	 	 	4.75	 	 	 	4.55	 	 	 	4.40	 	 	 	4.20	 
	 	2008	 	 	 	4.00	 	 	 	3.80	 	 	 	3.60	 	 	 	3.50	 
	 	2009	 	 	 	3.25	 	 	 	3.25	 	 	 	3.25	 	 	 	3.25	 
	thereafter	 	 	3.00	 	 	 	 	 	 	 	 	 	 	 	 	 

     (c) Consolidated Fixed Charge Coverage Ratio. Permit the Consolidated Fixed
Charge Coverage Ratio for the consecutive twelve (12) month period ending as of the last day of
each fiscal quarter of TRM (or, if any portion of such period precedes the Closing Date, for the
period commencing

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on the Closing Date and ending on such date, expressed on an annualized basis in accordance
with the methodology set forth in the Compliance Certificate) set forth below to be less than the
ratio corresponding to such fiscal quarter:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Fiscal	 	 	 	 	 	 	 	 
	Year	 	March 31	 	June 30	 	September 30	 	December 31
	 	2006	 	 	 	n/a	 	 	 	1.00	 	 	 	1.00	 	 	 	1.00	 
	 	2007	 	 	 	1.00	 	 	 	1.00	 	 	 	1.00	 	 	 	1.00	 
	 	2008	 	 	 	1.05	 	 	 	1.05	 	 	 	1.05	 	 	 	1.05	 
	thereafter	 	 	1.15	 	 	 	 	 	 	 	 	 	 	 	 	 

     (d) Consolidated First Lien Leverage Ratio. Permit the Consolidated First Lien
Leverage Ratio as of the end of any fiscal quarter of TRM for the twelve (12) consecutive month
period ending on such date set forth below to be greater than the ratio corresponding to such
fiscal quarter (using annualized EBITDA amounts in accordance with clause (a) above, to the extent
applicable):

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Fiscal	 	 	 	 	 	 	 	 
	Year	 	March 31	 	June 30	 	September 30	 	December 31
	 	2006	 	 	 	n/a	 	 	 	3.25	 	 	 	2.75	 	 	 	2.75	 
	 	2007	 	 	 	2.70	 	 	 	2.60	 	 	 	2.50	 	 	 	2.40	 
	 	2008	 	 	 	2.30	 	 	 	2.20	 	 	 	2.10	 	 	 	2.00	 
	 	2009	 	 	 	1.85	 	 	 	1.85	 	 	 	1.85	 	 	 	1.85	 
	thereafter	 	 	1.75	 	 	 	 	 	 	 	 	 	 	 	 	 

8.12 Prepayment of Other Indebtedness, Etc.

     If any Default has occurred and is continuing or would directly or indirectly result
therefrom:

     (a) Amend or modify any of the terms of any Indebtedness of any Borrower or any Subsidiary
(other than Indebtedness arising under the Loan Documents) if such amendment or modification would
add or change any terms in a manner adverse to such Borrower or any Subsidiary, or shorten the
final maturity or average life to maturity or require any payment to be made sooner than originally
scheduled or increase the interest rate applicable thereto.

     (b) Except as expressly permitted by Section 8.03, make (or give any notice with respect
thereto) any mandatory, voluntary or optional payment or prepayment or redemption or acquisition
for value of (including without limitation, by way of depositing money or securities with the
trustee with respect thereto before due for the purpose of paying when due), refund, refinance or
exchange of any Indebtedness of any Borrower or any Subsidiary (other than Indebtedness arising
under the Loan Documents).

8.13 Organization Documents; Fiscal Year; Legal Name, State of Formation and Form of Entity.

     (a) Amend, modify or change its Organization Documents in a manner adverse to the Lenders.

     (b) Change its fiscal year.

     (c) Without providing ten (10) days prior written notice to the Administrative Agent, change
its name, state of formation or form of organization.

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8.14 Ownership of Subsidiaries.

     Notwithstanding any other provisions of this Agreement to the contrary, (i) permit any Person
(other than a Borrower or any Wholly Owned Subsidiary of a Borrower) to own any Equity Interests of
any Subsidiary of a Borrower, except to qualify directors where required by applicable law or to
satisfy other requirements of applicable law with respect to the ownership of Equity Interests of
Foreign Subsidiaries or (ii) permit any Subsidiary of any Borrower to issue or have outstanding any
shares of preferred Equity Interests.

8.15 Capital Expenditures.

     Permit Consolidated Capital Expenditures to exceed $8,000,000 for each fiscal year of
Borrowers.

8.16. ATM Technology Upgrades.

     Permit expenditures made to implement Merchant Owned ATM Technology Upgrades to be greater
than $4,000,000 for Borrowers’ fiscal year ending December 31, 2006 and $0 for each fiscal year
thereafter.

ARTICLE IX

EVENTS OF DEFAULT AND REMEDIES

9.01 Events of Default.

       Any of the following shall constitute an Event of Default:

     (a) Non-Payment. Any Loan Party fails to pay (i) when and as required to be
paid herein, and in the currency required hereunder, any amount of principal of any Loan, or
(ii) within two Business Days after the same becomes due, any interest on any Loan, or any
fee due hereunder, or (iii) within five days after the same becomes due, any other amount
payable hereunder or under any other Loan Document; or

     (b) Specific Covenants. Any Loan Party fails to perform or observe any term,
covenant or agreement contained in any of Section 7.05, 7.10, 7.11,
7.12, 7.14, 7.15 or 7.16 or Article VIII; or

     (c) Other Defaults. Any Loan Party fails to (X) make timely delivery of any
item contained in any of Sections 7.01, 7.02 or 7.03, when due in
accordance with the terms thereof (except to the extent, if applicable, TRM obtains an
extension or cure period from the SEC with respect to corresponding delivery deadlines,
provided, however, that any such extension or cure period shall not exceed
15 days beyond the date such deliveries were otherwise due in accordance with the terms
hereof), or (Y) perform or observe any other covenant or agreement (not specified in
subsection (a) or (b) above) contained in any Loan Document on its part to be performed or
observed and such failure continues for thirty days after the earlier of (i) a Responsible
Officer of any Loan Party becoming aware of such failure or (ii) notice thereof to Borrower
Representative by the Administrative Agent; or

     (d) Representations and Warranties. Any material representation, warranty,
certification or statement of fact made or deemed made by or on behalf of any Loan Party
herein,

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in any other Loan Document, or in any document delivered in connection herewith or
therewith shall be incorrect or misleading in any material respect when made or deemed made;
or

     (e) Cross-Defaults. (i) any “Event of Default” under and as defined in the
First Lien Loan Documents; (ii) any “Default” under and as defined in the UK Loan Documents;
(iii) any default or breach of any of the Vault Cash Agreements or any Processing Agreement,
(iv) without limiting the foregoing in any manner, any Borrower or any Subsidiary thereof
(A) fails to make any payment when due (whether by scheduled maturity, required prepayment,
acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than
Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal
amount (including undrawn committed or available amounts and including amounts owing to all
creditors under any combined or syndicated credit arrangement) of more than $1,000,000, or
(B) fails to observe or perform any other agreement or condition relating to any such
Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing
or relating thereto, or any other event occurs, the effect of which default or other event
is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or
beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or holders
or beneficiary or beneficiaries) to cause, with the giving of notice if required, such
Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or
redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem
such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become
payable or cash collateral in respect thereof to be demanded; or (v) there occurs under any
Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from
(A) any event of default under such Swap Contract as to which a Borrower or any Subsidiary
is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event (as
so defined) under such Swap Contract as to which a Borrower or any Subsidiary is an Affected
Party (as so defined) and, in either event, the Swap Termination Value owed by such Borrower
or such Subsidiary as a result thereof is greater than $1,000,000; or

     (f) Insolvency Proceedings, Etc. Any Loan Party or any of its Subsidiaries
institutes or consents to the institution of any proceeding under any Debtor Relief Law, or
makes an assignment for the benefit of creditors; or applies for or consents to the
appointment of any receiver, administrative receiver, administrator supervisor, trustee,
custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or
any material part of its revenues or property; or any receiver, administrative receiver,
administrator supervisor, trustee, custodian, conservator, liquidator, rehabilitator or
similar officer is appointed without the application or consent of such Person and the
appointment continues un-discharged or un-stayed for sixty calendar days, with respect to
any Borrower or any of its respective Domestic Subsidiaries; or any proceeding under any
Debtor Relief Law relating to any such Person or to all or any material part of its property
is instituted (including the making of an application, the presentation of a petition, the
filing or service of a notice or the passing of a resolution) with a view to (i) any Loan
Party or any of its Subsidiaries being adjudicated or found insolvent, (ii) the winding-up,
liquidation, rehabilitation, rescue or dissolution of any Loan Party or any of its
Subsidiaries, (iii) any creditors, (iv) the appointment of a trustee, supervisor receiver,
administrator, administrative receiver, liquidator, administrator or similar officer in
respect of any Loan Party or any of its Subsidiaries or any of its revenues or assets or any
adjudication or appointment is made without the consent of such Person and continues
un-dismissed or un-stayed for sixty calendar days, with respect to any Borrower or any of
its Domestic Subsidiaries; or

     (g) Inability to Pay Debts; Attachment. (i) Any Borrower or any Subsidiary
thereof becomes unable or admits in writing its inability or fails generally to pay its
debts as they become due, (ii) any writ or warrant of attachment or execution or similar
process is issued or levied

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against all or any material part of the property of any such Person and is not
released, vacated or fully bonded within thirty days after its issue or levy or (iii)
propose or enters into any composition or other arrangement for the benefit of its creditors
generally or any class of creditors; or

     (h) Judgments. There is entered against any Borrower or any Subsidiary thereof
(i) one or more final judgments or orders for the payment of money in an aggregate amount
exceeding $500,000 (to the extent not covered by independent third-party insurance as to
which the insurer does not dispute coverage), or (ii) any one or more non-monetary final
judgments that have, or could reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are
commenced by any creditor upon such judgment or order, or (B) there is a period of thirty
consecutive days during which a stay of enforcement of such judgment, by reason of a pending
appeal or otherwise, is not in effect; or

     (i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or
Multiemployer Plan which has resulted or could reasonably be expected to result in liability
of TRM under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an
aggregate amount in excess of $2,000,000, or (ii) TRM or any ERISA Affiliate fails to pay
when due, after the expiration of any applicable grace period, any installment payment with
respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan
in an aggregate amount in excess of $2,000,000; or

     (j) Invalidity of Loan Documents. Any Loan Document, at any time after its
execution and delivery and for any reason other than as expressly permitted hereunder or
thereunder or satisfaction in full of all the Obligations, ceases to be in full force and
effect; or any Loan Party or any other Person contests in any manner the validity or
enforceability of any Loan Document; or any Loan Party denies that it has any or further
liability or obligation under any Loan Document, or purports to revoke, terminate or rescind
any Loan Document; or

     (k) Change of Control. There occurs any Change of Control; or

     (l) Loss of Access to Cash. For a period of more than five consecutive days,
TRM, any Borrower or any Subsidiaries thereof do not have access to cash to service at least
80% of their ATM machines (for which they are required to supply cash) at the present level,
regardless of what causes such loss of access to cash; or

     (m) Loss of Material Contracts. Any Material Contract specifically designated
on Schedule 6.15 hereof as being subject to this clause 9.01(m) shall, at any time, fail to
be in full force and effect unless the Administrative Agent is reasonably satisfied that
such contract has been replaced or superseded by one or more contracts or other agreements
of like tenor, amount and substance between the parties thereto; or

     (n) Prevention of Business Affairs. If any Borrower or any Subsidiary of a
Borrower is prohibited, enjoined, restrained, or prevented from conducting a material
portion of its business theretofore conducted by it by virtue of any casualty, any labor
strike, any determination, ruling, decision, decree or order of any court or regulatory
authority of competent jurisdiction or any other event and such casualty, labor strike,
determination, ruling, decision, decree, order or other event remains un-stayed and in
effect for any period of twenty (20) days; or

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     (o) Invalid Liens. If the Security Agreement or any other Loan Document that
purports to create a Lien, shall, for any reason, fail or cease to create a valid and
perfected and, except to the extent permitted by the terms hereof or thereof, first priority
Lien on or security interest in a material portion of the Collateral covered hereby or
thereby, except as a result of a disposition of the applicable Collateral in a transaction
permitted under this Agreement; or

     (p) Seizure of Assets. If any material portion of any Borrower’s or any of its
Subsidiaries’ assets is attached, seized, subjected to a writ or distress warrant, or is
levied upon, or comes into the possession of any third Person and the same is not discharged
before the earlier of 30 days after the date it first arises or 5 days prior to the date on
which such property or asset is subject to forfeiture by such Borrower or the applicable
Subsidiary.

9.02 Remedies Upon Event of Default.

     If any Event of Default occurs and is continuing, the Administrative Agent shall, at the
request of, or may, with the consent of, the Required Lenders, take any or all of the following
actions:

     (a) declare the unpaid principal amount of all outstanding Loans, all interest accrued
and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan
Document to be immediately due and payable, without presentment, demand, protest or other
notice of any kind, all of which are hereby expressly waived by the Borrowers; and

     (b) exercise on behalf of itself and the Lenders all rights and remedies available to
it and the Lenders under the Loan Documents;

provided, however, that upon the occurrence of an actual or deemed entry of an
order for relief with respect to a Borrower under the Bankruptcy Code of the United States, the
obligation of each Lender to make or Continue Loans shall automatically terminate, the unpaid
principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall
automatically become due and payable, without further act of the Administrative Agent or any
Lender.

9.03 Application of Funds.

        After the exercise of remedies provided for in Section 9.02 (or after the Loans have
automatically become immediately due and payable), any amounts received on account of the
Obligations shall be applied by the Administrative Agent in the following order:

First, to payment of that portion of the Obligations constituting fees, indemnities,
expenses and other amounts (including fees, charges and disbursements of counsel to the
Administrative Agent and amounts payable under Article III) payable to the
Administrative Agent in its capacity as such;

Second, to payment of that portion of the Obligations constituting fees, indemnities
and other amounts (other than principal and interest) payable to the Lenders, ratably among
them in proportion to the amounts described in this clause Second payable to them;

Third, to pay interest due in respect of all Term Loans until paid in full;

Fourth, to pay the outstanding principal balance of the Term Loan until the Term
Loan is paid in full,

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Fifth, to pay any other Obligations, and

Last, the balance, if any, after all of the Obligations have been indefeasibly paid
in full, to the applicable Loan Party or as otherwise required by Law.

ARTICLE X

ADMINISTRATIVE AGENT

10.01 Appointment and Authority.

     Each of the Lenders hereby irrevocably appoints WFF to act on its behalf as the Administrative
Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take
such actions on its behalf and to exercise such powers as are expressly delegated to the
Administrative Agent by the terms hereof or thereof, together with such actions and powers as are
reasonably incidental thereto. The provisions of this Article are solely for the benefit of the
Administrative Agent and the Lenders, and neither the Borrowers nor any other Loan Party shall have
rights as a third party beneficiary of any of such provisions (other than Section 10.06).

10.02 Rights as a Lender.

     The 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 the term “Lender” or “Lenders” shall, unless otherwise expressly indicated
or unless the context otherwise requires, include the Person serving as the Administrative Agent
hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from,
lend money to, act as the financial advisor or in any other advisory capacity for and generally
engage in any kind of business with any Loan Party or any Subsidiary or other Affiliate thereof as
if such Person were not the Administrative Agent hereunder and without any duty to account therefor
to the Lenders.

10.03 Exculpatory Provisions.

     The Administrative Agent shall not have any duties or obligations except those expressly set
forth herein and in the other Loan Documents. Without limiting the generality of the foregoing,
the Administrative Agent:

     (a) shall not be subject to any fiduciary or other implied duties, regardless of
whether a Default has occurred and is continuing;

     (b) shall not have any duty to take any discretionary action or exercise any
discretionary powers, except discretionary rights and powers expressly contemplated hereby
or by the other Loan Documents that the Administrative Agent is required to exercise as
directed in writing by the Required Lenders (or such other number or percentage of the
Lenders as shall be expressly provided for herein or in the other Loan Documents),
provided that the Administrative Agent shall not be required to take any action
that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to
liability or that is contrary to any Loan Document or applicable law; and

     (c) shall not, except as expressly set forth herein and in the other Loan Documents,
have any duty to disclose, and shall not be liable for the failure to disclose, any
information

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relating to any Loan Party or any of its Affiliates that is communicated to or obtained
by the Person serving as the Administrative Agent or any of its Affiliates in any capacity.

     The Administrative Agent shall not be liable for any action taken or not taken by it (i) with
the consent or at the request of the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be
necessary, under the circumstances as provided in Sections 11.01 and 9.02) or (ii)
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 notice describing such Default is
given to the Administrative Agent by a Borrower, a Lender.

     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 this Agreement or
any other Loan Document, (ii) the contents of any certificate, report or other document delivered
hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance
of any of the covenants, agreements or other terms or conditions set forth herein or therein or the
occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement, any other Loan Document or any other agreement, instrument or document or (v) the
satisfaction of any condition set forth in Article V or elsewhere herein, other than to
confirm receipt of items expressly required to be delivered to the Administrative Agent.

10.04 Reliance by 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 (including any electronic message, Internet or intranet website posting or other
distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated
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 have been made by the proper Person, and shall not incur any
liability for relying thereon. In determining compliance with any condition hereunder to the
making of a Loan, that by its terms must be fulfilled to the satisfaction of a Lender, the
Administrative Agent may presume that such condition is satisfactory to such Lender unless the
Administrative Agent shall have received notice to the contrary from such Lender prior to the
making of such Loan. The Administrative Agent may consult with legal counsel (who may be counsel
for the Loan Parties), 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.

10.05 Delegation of Duties.

     The Administrative Agent may perform any and all of its duties and exercise its rights and
powers hereunder or under any other Loan Document by or through any one or more sub-agents
appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform
any and all of its duties and exercise its rights and powers by or through their respective Related
Parties. The exculpatory provisions of this Article 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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10.06 Resignation of Administrative Agent.

     The Administrative Agent may at any time give notice of its resignation to the Lenders and
Borrower Representative. Upon receipt of any such notice of resignation, the Required Lenders
shall have the right, in consultation with Borrower Representative, to appoint a successor, which
shall be a bank with an office in the United States, or an Affiliate of any such bank with an
office in the United States. If no such successor shall have been so appointed by the Required
Lenders and shall have accepted such appointment within two (2) Business Days after the retiring
Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on
behalf of the Lenders, appoint a successor Administrative Agent meeting the qualifications set
forth above; provided that if the Administrative Agent shall notify Borrower Representative
and the Lenders that no qualifying Person has accepted such appointment, then such resignation
shall nonetheless become effective in accordance with such notice and (1) the retiring
Administrative Agent shall be discharged from its duties and obligations hereunder and under the
other Loan Documents and (2) all payments, communications and determinations provided to be made
by, to or through the Administrative Agent shall instead be made by or to each Lender directly,
until such time as the Required Lenders appoint a successor Administrative Agent as provided for
above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent
hereunder, such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring (or retired) Administrative Agent, and the retiring
Administrative Agent shall be discharged from all of its duties and obligations hereunder or under
the other Loan Documents (if not already discharged therefrom as provided above in this Section).
The fees payable by the Borrowers to a successor Administrative Agent shall be the same as those
payable to its predecessor unless otherwise agreed between the Borrowers and such successor. After
the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the
provisions of this Article and Section 11.04 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 the retiring Administrative Agent
was acting as Administrative Agent.

10.07 Non-Reliance on Administrative Agent and Other Lenders.

     Each Lender acknowledges that it has, independently and without reliance upon the
Administrative Agent or any other Lender or any of their Related Parties 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 or any of their Related Parties
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.

10.08 No Other Duties; Etc.

     Anything herein to the contrary notwithstanding, none of the bookrunners, arrangers,
syndication agents, documentation agents or co-agents shall have any powers, duties or
responsibilities under this Agreement or any of the other Loan Documents, except in its capacity,
as applicable, as the Administrative Agent, a Lender hereunder.

10.09 Administrative Agent May File Proofs of Claim.

     In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any
Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan shall then
be due and payable as

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herein expressed or by declaration or otherwise and irrespective of whether the Administrative
Agent shall have made any demand on the applicable Borrower) shall be entitled and empowered, by
intervention in such proceeding or otherwise:

     (a) to file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans and all other Obligations (other than obligations under
Swap Contracts to which the Administrative Agent is not a party) that are owing and unpaid
and to file such other documents as may be necessary or advisable in order to have the
claims of the Lenders and the Administrative Agent (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Lenders and the Administrative
Agent and their respective agents and counsel and all other amounts due the Lenders and the
Administrative Agent under Sections 2.03(i) and (j), 2.09 and
11.04) allowed in such judicial proceeding; and

     (b) to collect and receive any monies or other property payable or deliverable on any
such claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Lender to make such payments to the
Administrative Agent and, in the event that the Administrative Agent shall consent to the making of
such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the
reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its
agents and counsel, and any other amounts due the Administrative Agent under Sections 2.09
and 11.04.

     Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or
consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement,
adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the
Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.

10.10 Collateral and Guaranty Matters.

     The Lenders irrevocably authorize the Administrative Agent, at its option and in its
discretion,

     (a) to release any Lien on any Collateral granted to or held by the Administrative
Agent under any Loan Document (i) upon payment in full of all Obligations (other than
contingent indemnification obligations), (ii) that is transferred or to be transferred as
part of or in connection with any Disposition permitted hereunder or under any other Loan
Document or any Involuntary Disposition, or (iii) as approved in accordance with Section
11.01;

     (b) to subordinate any Lien on any Property granted to or held by the Administrative
Agent under any Loan Document to the holder of any Lien on such Property that is permitted
by Section 8.01(i); and

     (c) to release any Guarantor from its obligations under the Guaranty if such Person
ceases to be a Subsidiary as a result of a transaction permitted hereunder.

Upon request by the Administrative Agent at any time, the Required Lenders will confirm in
writing the Administrative Agent’s authority to release or subordinate its interest in
particular types or items of Property, or to release any Guarantor from its obligations
under the Guaranty, pursuant to this Section 10.10.

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ARTICLE XI

MISCELLANEOUS

11.01 Amendments, Etc.

     No amendment or waiver of any provision of this Agreement or any other Loan Document, and no
consent to any departure by any Borrower or any other Loan Party therefrom, shall be effective
unless in writing signed by the Required Lenders and Borrower Representative or the applicable Loan
Party, as the case may be, and acknowledged by the Administrative Agent, and each such waiver or
consent shall be effective only in the specific instance and for the specific purpose for which
given; provided, further, that

     (a) no such amendment, waiver or consent shall:

     (i) extend or increase the Commitment of a Lender (or reinstate any Commitment
terminated pursuant to Section 9.02) without the written consent of such
Lender whose Commitment is being extended or increased (it being understood and
agreed that a waiver of any condition precedent set forth in Section 5.02 or
of any Default or a mandatory reduction in Commitments is not considered an
extension or increase in Commitments of any Lender);

     (ii) postpone any date fixed by this Agreement or any other Loan Document for
any payment of principal (excluding mandatory prepayments), interest, fees or other
amounts due to the Lenders (or any of them) or any scheduled or mandatory reduction
of the Commitments hereunder or under any other Loan Document without the written
consent of each Lender entitled to receive such payment or whose Commitments are to
be reduced;

     (iii) reduce the principal of, or the rate of interest specified herein on, any
Loan, or (subject to clause (i) of the final proviso to this Section 11.01)
any fees or other amounts payable hereunder or under any other Loan Document without
the written consent of each Lender entitled to receive such payment of principal,
interest, fees or other amounts; provided, however, that only the
consent of the Required Lenders shall be necessary to (A) amend the definition of
“Default Rate” or to waive any obligation of a Borrower to pay interest at the
Default Rate or (B) subject to clause (b) below, amend any financial covenant
hereunder (or any defined term used therein) even if the effect of such amendment
would be to reduce the rate of interest on any Loan or to reduce any fee payable
hereunder;

     (iv) change Section 2.13 or Section 9.03 in a manner that would
alter the pro rata sharing of payments required thereby without the written consent
of each Lender directly affected thereby;

     (v) [Reserved];

     (vi) change any provision of this Section 11.01(a) or the definition of
“Required Lenders” without the written consent of each Lender directly affected
thereby;

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     (vii) except in connection with a Disposition permitted under Section
8.05, release all or substantially all of the Collateral without the written
consent of each Lender whose Obligations are secured by such Collateral;

     (viii) release a Borrower or, except in connection with a merger or
consolidation permitted under Section 8.04 or a Disposition permitted under
Section 8.05, all or substantially all of the Guarantors, from its or their
obligations under the Loan Documents without the written consent of each Lender
whose Obligations are guarantied by such Guarantors; or

     (b) no such amendment, waiver or consent shall, (i) waive any Default for purposes of
Section 5.02(b), (ii) amend, change, waive, discharge or terminate Sections
9.01 or 8.03 in a manner adverse to such Lenders, or (iii) amend, change, waive,
discharge or terminate Section 8.11 (or any defined term used therein) or this
Section 11.01(b) unless also signed by Lenders (other than Defaulting Lenders)
holding, in the aggregate, at least a majority of the Outstanding Amount; or

     (c) unless also signed by Lenders (other than Defaulting Lenders) holding in the
aggregate at least a majority of the outstanding Term Loan (and participations therein), no
such amendment, waiver or consent shall (i) amend, change, waive, discharge or terminate
Section 2.05(b)(vii) so as to alter the manner of application of proceeds of any
mandatory prepayment required by Section 2.05(b)(iii), (iv), (v) or
(vi) hereof or (ii) amend, change, waive, discharge or terminate this Section
11.01(c) (other than to provide other Term Loan Lenders with proportional rights under
this Section 11.01(c)); and

     (d) unless also signed by the Administrative Agent, no amendment, waiver or consent
shall affect the rights or duties of the Administrative Agent under this Agreement or any
other Loan Document;

provided, however, that notwithstanding anything to the contrary herein, (i) the
Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by
the parties thereto, (ii) no Defaulting Lender shall have any right to approve or disapprove any
amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be
increased or extended without the consent of such Lender, (iii) each Lender is entitled to vote as
such Lender sees fit on any bankruptcy reorganization plan that affects the Loans, and each Lender
acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code of the United States
supersedes the unanimous consent provisions set forth herein and (iv) the Required Lenders shall
determine whether or not to allow a Loan Party to use cash collateral in the context of a
bankruptcy or insolvency proceeding and such determination shall be binding on all of the Lenders.

11.02 Notices and Other Communications; Facsimile Copies.

     (a) Notices Generally. Except in the case of notices and other communications
expressly permitted to be given by telephone (and except as provided in subsection (b) below), 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 telecopier as
follows, and all notices and other communications expressly permitted hereunder to be given by
telephone shall be made to the applicable telephone number, as follows:

     (i) if to Borrower Representative or any other Loan Party, the Administrative Agent, to
the address, telecopier number, electronic mail address or telephone number specified for
such Person on Schedule 11.02; and

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     (ii) if to any other Lender, to the address, telecopier number, electronic mail address
or telephone number specified to Administrative Agent in writing.

     Notices sent by hand or overnight courier service, or mailed by certified or registered mail,
shall be deemed to have been given when received; notices sent by telecopier shall be deemed to
have been given when sent (except that, if not given during normal business hours for the
recipient, shall be deemed to have been given at the opening of business on the next business day
for the recipient). Notices delivered through electronic communications to the extent provided in
subsection (b) below, shall be effective as provided in such subsection (b).

     (b) Electronic Communications. Notices and other communications to the Lenders
hereunder may be delivered or furnished by electronic communication (including e-mail and Internet
or intranet websites) pursuant to procedures approved by the Administrative Agent, provided
that the foregoing shall not apply to notices to any Lender pursuant to Article II if such
Lender, has notified the Administrative Agent that it is incapable of receiving notices under such
Article by electronic communication. The Administrative Agent or Borrower Representative 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.

     Unless the Administrative Agent otherwise prescribes, (i) notices and other communications
sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement
from the intended recipient (such as by the “return receipt requested” function, as available,
return e-mail or other written acknowledgement), provided that if such notice or other
communication is not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent at the opening of business on the next business day
for the recipient, and (ii) notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as
described in the foregoing clause (i) of notification that such notice or communication is
available and identifying the website address therefor.

     (c) Change of Address, Etc. Each of the Borrowers and the Administrative Agent may
change its address, telecopier or telephone number for notices and other communications hereunder
by notice to the other parties hereto. Each other Lender may change its address, telecopier or
telephone number for notices and other communications hereunder by notice to Borrower
Representative and the Administrative Agent.

     (d) Reliance by Administrative Agent and Lenders. Administrative Agent and the
Lenders shall be entitled to rely, and shall be fully protected in relying, upon any writing,
resolution, notice, consent, certificate, affidavit, letter, telegram, telefacsimile or other
electronic method of transmission, telex or telephone message, statement or other document or
conversation believed by it to be genuine and correct and to have been signed, sent, or made by the
proper Person or Persons, and upon advice and statements of legal counsel (including counsel to any
Loan Party or counsel to any Lender), independent accountants and other experts selected by
Administrative Agent. Administrative Agent shall be fully justified in failing or refusing to take
any action under this Agreement or any other Loan Document unless Administrative Agent shall first
receive such advice or concurrence of the Lenders as it deems appropriate. If Administrative Agent
so requests, it shall first be indemnified to its reasonable satisfaction by the Lenders against
any and all liability and expense that may be incurred by it by reason of taking or continuing to
take any such action based on such advice or concurrence of the Lenders, other than as a result of
its own gross negligence or willful misconduct. Administrative Agent shall in all cases be fully
protected in acting, or in refraining from acting, under this Agreement or any other Loan Document
in

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accordance with a request or consent of the requisite Lenders and such request and any action
taken or failure to act pursuant thereto shall be binding upon all of the Lenders. The Loan
Parties shall indemnify the Administrative Agent, each Lender and the Related Parties of each of
them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on
each notice purportedly given by or on behalf of a Loan Party. All telephonic notices to and other
telephonic communications with the Administrative Agent may be recorded by the Administrative
Agent, and each of the parties hereto hereby consents to such recording.

     (e) Notice of Default or Event of Default. Administrative Agent shall not be deemed
to have knowledge or notice of the occurrence of any Default or Event of Default, except with
respect to defaults in the payment of principal, interest, fees, and expenses required to be paid
to Administrative Agent for the account of the Lenders and, except with respect to Events of
Default of which Administrative Agent has actual knowledge, unless Administrative Agent shall have
received written notice from a Lender or a Loan Party referring to this Agreement, describing such
Default or Event of Default, and stating that such notice is a “notice of default.” Administrative
Agent promptly will notify the Lenders of its receipt of any such notice or of any Event of Default
of which Administrative Agent has actual knowledge. If any Lender obtains actual knowledge of any
Event of Default, such Lender promptly shall notify the other Lenders and Administrative Agent of
such Event of Default. Each Lender shall be solely responsible for giving any notices to its
Participants, if any. Subject to 11.02(d), Administrative Agent shall take such action with
respect to such Default or Event of Default as may be requested by the Required Lenders in
accordance with Section 9; provided, however, that if an event occurs or a
circumstance exists that materially and imminently threatens the ability of Administrative Agent
and the Lenders to realize upon any material part of the Collateral, such as, without limitation,
fraudulent removal, concealment or abscondment thereof, destruction (other than to the extent
covered by insurance) or material waste thereof, or failure of Borrowers after reasonable demand to
maintain or reinstate adequate casualty insurance coverage with respect thereto, Administrative
Agent may take such action, or refrain from taking such action, with respect to such Default or
Event of Default as it shall deem advisable in its commercially reasonable discretion.

11.03 No Waiver; Cumulative Remedies.

     No failure by any Lender or the Administrative Agent to exercise, and no delay by any such
Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver
thereof; nor shall any single or partial exercise of any right, remedy, power or privilege
hereunder preclude any other or further exercise thereof or the exercise of any other right,
remedy, power or privilege. The rights, remedies, powers and privileges herein provided are
cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.

11.04 Expenses; Indemnity; and Damage Waiver.

     (a) Costs and Expenses. The Loan Parties shall pay (i) all reasonable out-of-pocket
expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees,
charges and disbursements of counsel for the Administrative Agent), in connection with the
syndication of the credit facilities provided for herein, the preparation, negotiation, execution,
delivery and administration of this Agreement and the other Loan Documents or any amendments,
modifications or waivers of the provisions hereof or thereof (whether or not the transactions
contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses
incurred by the Administrative Agent or any Lender (including the fees, charges and disbursements
of any counsel for the Administrative Agent or any Lender) in connection with the enforcement or
protection of its rights (A) in connection with this Agreement and the other Loan Documents,
including its rights under this Section, or (B) in connection with the Loans made or Letters of
Credit issued hereunder, including all such out-of-pocket expenses incurred during any

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workout, restructuring or negotiations in respect of such Loans. For avoidance of doubt, the
Loan Parties’ obligation to pay the amounts described in the preceding clause (iii) to any Lender
(as opposed to the Administrative Agent) shall be subject to the existence of an Event of Default
at the time such amounts were incurred by such Lender.

     (b) Indemnification by the Loan Parties. The Loan Parties shall indemnify the
Administrative Agent (and any sub-agent thereof) and each 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, liabilities and related
reasonable out-of-pocket expenses (including the fees, charges and disbursements of any counsel for
any Indemnitee) incurred by any Indemnitee or asserted against any Indemnitee by any third party or
by any Borrower or any other Loan Party arising out of, in connection with, or as a result of (i)
the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument
contemplated hereby or thereby, the performance by the parties hereto of their respective
obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or
thereby, (ii) any Loan or the use or proposed use of the proceeds therefrom, (iii) any actual or
alleged presence or release of Hazardous Materials on or from any property owned or operated by a
Loan Party or any of its Subsidiaries, or any Environmental Liability related in any way to a Loan
Party or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation,
investigation or proceeding relating to any of the foregoing, whether based on contract, tort or
any other theory, whether brought by a third party or by a Borrower or any other Loan Party, and
regardless of 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,
liabilities or related expenses (x) are determined by a court of competent jurisdiction by final
and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such
Indemnitee or (y) result from a claim brought by a Borrower or any other Loan Party against an
Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other
Loan Document, if such Borrower or such other Loan Party has obtained a final and nonappealable
judgment in its favor on such claim as determined by a court of competent jurisdiction.

     (c) Reimbursement by Lenders. To the extent that the Loan Parties for any reason fail
to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by
them to the Administrative Agent (or any sub-agent thereof) or any Related Party of any of the
foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent)
or such Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of
the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid
amount, provided that the unreimbursed expense or indemnified loss, claim, damage,
liability or related expense, as the case may be, was incurred by or asserted against the
Administrative Agent (or any such sub-agent) in its capacity as such, or against any Related Party
of any of the foregoing acting for the Administrative Agent (or any such sub-agent) in connection
with such capacity. The obligations of the Lenders under this subsection (c) are subject to the
provisions of Section 2.12(d).

     (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, no Loan Party shall assert, and each Loan Party hereby waives, any claim against
any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive
damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result
of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the
transactions contemplated hereby or thereby, any Loan or the use of the proceeds thereof. No
Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the use
by unintended recipients of any information or other materials distributed by it through
telecommunications, electronic or other information transmission systems in connection with this
Agreement or the other Loan Documents or the transactions contemplated hereby or thereby.

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     (e) Payments. All amounts due under this Section shall be payable not later than ten
Business Days after demand therefor.

     (f) Survival. The agreements in this Section shall survive the resignation of the
Administrative Agent, the replacement of any Lender, the termination of the Commitments and the
repayment, satisfaction or discharge of all the other Obligations.

11.05 Payments Set Aside.

     To the extent that any payment by or on behalf of any Loan Party is made to the Administrative
Agent or any Lender, or the Administrative Agent or any Lender exercises its right of setoff, and
such payment or the proceeds of such setoff or any part thereof is subsequently invalidated,
declared to be fraudulent or preferential, set aside or required (including pursuant to any
settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid
to a trustee, receiver or any other party, in connection with any proceeding under any Debtor
Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof
originally intended to be satisfied shall be revived and continued in full force and effect as if
such payment had not been made or such setoff had not occurred, and (b) each Lender severally
agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of
any amount so recovered from or repaid by the Administrative Agent, plus interest thereon
from the date of such demand to the date such payment is made at a rate per annum equal to the
applicable Defaulting Lender Rate from time to time in effect, in the applicable currency of such
recovery or payment. The obligations of the Lenders under clause (b) of the preceding sentence
shall survive the payment in full of the Obligations and the termination of this Agreement.

11.06 Successors and Assigns.

     (a) Successors and Assigns Generally. The provisions of this Agreement and the other
Loan Documents shall be binding upon and inure to the benefit of the parties hereto and thereto and
their respective successors and assigns permitted hereby, except that a Borrower may not assign or
otherwise transfer any of its rights or obligations hereunder or thereunder without the prior
written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise
transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in
accordance with the provisions of subsection (b) of this Section, (ii) by way of participation in
accordance with the provisions of subsection (d) of this Section or (iii) by way of pledge or
assignment of a security interest subject to the restrictions of subsection (f) of this Section
(and any other attempted assignment or transfer by any party hereto 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,
Participants to the extent provided in subsection (d) of this Section and, to the extent expressly
contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any
legal or equitable right, remedy or claim under or by reason of this Agreement.

     (b) Assignments by Lenders. Any Lender may at any time assign to one or more Eligible
Assignees all or a portion of its rights and obligations under this Agreement and the other Loan
Documents (including all or a portion of its Commitment and the Loans (including for purposes of
this subsection (b); provided that (i) except in the case of an assignment of the entire
remaining amount of the assigning Lender’s Loans at the time owing to it or in the case of an
assignment to a Lender or an Affiliate of a Lender or an Approved Fund with respect to a Lender,
the aggregate amount of the principal outstanding balance of the Loans 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 or, if “Trade Date” is
specified in the Assignment and Assumption, as of the Trade

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Date, shall not be less than $1,000,000 unless each of the Administrative Agent and, so long as no
Event of Default has occurred and is continuing, Borrower Representative otherwise consents (each
such consent not to be unreasonably withheld or delayed and no consent of Borrower Representative
shall be required in connection with assignments made by the GSO Fund within 30 days of the Closing
Date in connection with the primary syndication of the Loans and Commitments); (ii) each partial
assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s
Loans and Commitments, and rights and obligations with respect thereto, assigned; and (iii) 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 the Eligible
Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an loan
administrative questionnaire in form and substance reasonably acceptable to Administrative Agent.
Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c)
of this Section, from and after the effective date specified in each Assignment and Assumption, the
Eligible Assignee thereunder shall be a party to this Agreement 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 3.01, 3.04, 3.05 and 11.04
with respect to facts and circumstances occurring prior to the effective date of such assignment).
Upon request, each Borrower (at its expense) shall execute and deliver a Note to the assignee
Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that
does not comply with this subsection 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 subsection (d) of
this Section.

     (c) Register. The Administrative Agent, acting solely for this purpose as an agent of
the Borrowers, shall maintain at the Administrative Agent’s Office 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 principal amounts of the Loans owing to, each Lender pursuant to the terms hereof
from time to time (the “Register”). The entries in the Register shall be conclusive, and
the Borrowers, the Administrative Agent and the Lenders may treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of
this Agreement, notwithstanding notice to the contrary. The Register shall be available for
inspection by each of the Borrowers at any reasonable time and from time to time upon reasonable
prior notice. In addition, at any time that a request for a consent for a material or substantive
change to the Loan Documents is pending, any Lender wishing to consult with other Lenders in
connection therewith may request and receive from the Administrative Agent a copy of the Register.

     (d) Participations. Any Lender may at any time, without the consent of, or notice to,
any Borrower or the Administrative Agent, sell participations to any Person (other than a natural
person or a Borrower or any of TRM’s Affiliates or Subsidiaries) (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 Loans owing to it); 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 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 this Agreement and to approve any amendment, modification or
waiver of any provision of this Agreement; provided that such agreement or instrument may
provide that such Lender will not, without the consent of the Participant, agree to any amendment,
waiver or other modification described in clauses (i) through (viii) of Section 11.01(a)
that affects such Participant.

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Subject to subsection (e) of this Section, each Borrower agrees that each Participant shall be
entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent
as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of
this Section. 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 2.13 as though it were a Lender.

     (e) Limitation on Participant Rights. A Participant shall not be entitled to receive
any greater payment under Section 3.01 or 3.04 than the applicable Lender would
have been entitled to receive with respect to the participation sold to such Participant, unless
the sale of the participation to such Participant is made with Borrowers’ prior written consent. A
Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the
benefits of Section 3.01 unless Borrower Representative is notified of the participation
sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply
with Section 3.01(e) as though it were a Lender.

     (f) Certain Pledges. Any Lender may at any time pledge or assign a security interest
in all or any portion of its rights under this Agreement (including under its Note, if any) to
secure obligations of such Lender, including any pledge or assignment to secure obligations to a
Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender
from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as
a party hereto.

     (g) Electronic Execution of Assignments. The words “execution,” “signed,”
“signature,” and words of like import in any Assignment and Assumption shall be deemed to include
electronic signatures or the keeping of records in electronic form, each of which shall be of the
same legal effect, validity or enforceability as a manually executed signature or the use of a
paper-based recordkeeping system, as the case may be, to the extent and as provided for in any
applicable law, including the Federal Electronic Signatures in Global and National Commerce Act,
the New York State Electronic Signatures and Records Act, or any other similar state laws based on
the Uniform Electronic Transactions Act

11.07 Treatment of Certain Information; Confidentiality.

     Each of the Administrative Agent and the Lenders agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to its Affiliates and
to its and its Affiliates’ respective partners, directors, officers, employees, agents, advisors
and representatives, to any direct or indirect contractual counterparty (or such contractual
counterparty’s professional advisor) under any Swap Contract relating to Loans outstanding under
this Agreement (it being understood that the Persons to whom such disclosure is made will
be informed of the confidential nature of such Information and instructed to keep such Information
confidential), (b) to the extent requested by any regulatory authority purporting to have
jurisdiction over it (including any self-regulatory authority, such as the National Association of
Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any
subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the
exercise of any remedies hereunder or under any other Loan Document or any 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 a Loan
Party and its obligations, (g) with the consent of the Borrowers or (h) to the extent such
Information (x) becomes publicly available other than as a result of a breach of this Section or
(y) becomes available to the Administrative Agent or any Lender, or any of their respective
Affiliates on a non-confidential basis from a source other than the Borrowers and who is not in
breach of any duties of confidentiality.

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     For purposes of this Section, “Information” means all information received from a Loan
Party or any Subsidiary relating to the Loan Parties or any Subsidiary or any of their respective
businesses, other than any such information that is available to the Administrative Agent or any
Lender on a non-confidential basis prior to disclosure by such Loan Party or any Subsidiary,
provided that, in the case of information received from a Loan Party or any Subsidiary
after the date hereof, such information is clearly identified at the time of delivery as
confidential. For purposes of this Agreement, any information delivered or obtained by Lenders
pursuant to Sections 7.01(b), 7.02 or 7.10 which is not otherwise publicly available shall be
deemed confidential without the identification required by the previous sentence. 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.

11.08 Set-off.

     If an Event of Default shall have occurred and be continuing, each Lender and each of their
respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent
permitted by applicable law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final, in whatever currency) at any time held and other obligations (in
whatever currency) at any time owing by such Lender or any such Affiliate to or for the credit or
the account of any Borrower or any other Loan Party against any and all of the obligations of such
Borrower or such Loan Party now or hereafter existing under this Agreement or any other Loan
Document to such Lender, irrespective of whether or not such Lender shall have made any demand
under this Agreement or any other Loan Document and although such obligations of such Borrower or
such Loan Party may be contingent or unmatured or are owed to a branch or office of such Lender
different from the branch or office holding such deposit or obligated on such indebtedness. The
rights of each Lender and their respective Affiliates under this Section are in addition to other
rights and remedies (including other rights of setoff) that such Lender or their respective
Affiliates may have. Each Lender agrees to notify Borrower Representative and the Administrative
Agent promptly after any such setoff and application, provided that the failure to give
such notice shall not affect the validity of such setoff and application.

11.09 Interest Rate Limitation.

     Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or
agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious
interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or
any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest
shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to
the Borrowers. In determining whether the interest contracted for, charged, or received by the
Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted
by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or
premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c)
amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest
throughout the contemplated term of the Obligations hereunder.

11.10 Counterparts; Integration; Effectiveness.

     This Agreement may be executed in counterparts (and by different parties hereto in different
counterparts), each of which shall constitute an original, but all of which when taken together
shall constitute a single contract. This Agreement and the other Loan Documents 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 5.01,

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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 that, when taken
together, bear the signatures of each of the other parties hereto. Delivery of an executed
counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a
manually executed counterpart of this Agreement.

11.11 Survival of Representations and Warranties.

     All representations and warranties made hereunder and in any other Loan Document or other
document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive
the execution and delivery hereof and thereof. Such representations and warranties have been or
will be relied upon by the Administrative Agent and each Lender, regardless of any investigation
made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the
Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of
any Loan, and shall continue in full force and effect as long as any Loan or any other Obligation
hereunder shall remain unpaid or unsatisfied.

11.12 Severability.

     If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid
or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this
Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the
parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of
the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

11.13 Replacement of Lenders.

     (a) By Borrower. If (A) any Lender requests compensation under Section 3.04,
(B) a Borrower is required to pay any additional amount to any Lender or any Governmental Authority
for the account of any Lender pursuant to Section 3.01, or (C) any Lender is a Defaulting
Lender, then the Borrowers may, at their 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, and consents required by, Section
11.06), all of its interests, rights and obligations under this Agreement and the related Loan
Documents to an assignee that shall assume such obligations (which assignee may be another Lender,
if a Lender accepts such assignment), provided that:

     (i) The Borrowers shall have paid to the Administrative Agent the assignment fee
specified in Section 11.06(b);

     (ii) such Lender shall have received payment of an amount equal to the outstanding
principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable
to it hereunder and under the other Loan Documents (including any amounts under Section
3.05) from the assignee (to the extent of such outstanding principal and accrued
interest and fees) or the applicable Borrower (in the case of all other amounts);

     (iii) in the case of any such assignment resulting from a claim for compensation under
Section 3.04 or payments required to be made pursuant to Section 3.01, such
assignment will result in a reduction in such compensation or payments thereafter; and

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     (iv) such assignment does not conflict with applicable Laws.

     Upon the consummation of such sale and assignment, the applicable amendment, modification,
forbearance and/or waiver giving rise to the option to acquire such Non-Consenting Lender’s
interests hereunder shall become effective upon giving effect to such assignment (and any related
assignments required to be effected in connection therewith in accordance with this Section 11.13).

     (b) By Lenders. If any Lender refuses to consent (such Lender a “Non-Consenting
Lender”) to an amendment, modification, forbearance and/or waiver of or under this Agreement,
and such Non-Consenting Lender’s consent is otherwise necessary to achieve Required Lender consent
hereunder and but for such failure to consent, such amendment, modification, forbearance or waiver
would have been effected pursuant to the terms hereof, then any one or more of the other Lenders
may, but shall not be required to purchase and assume (if more than one, then on a pro rata basis),
or to designate some other Person to purchase, assume and acquire the interests and obligations of
the Non-Consenting Lender hereunder and under the Loan Documents and such Non-Consenting Lender
shall promptly assign, sell and transfer to such other Lenders, or to any such other Person as
designated by such Lenders (such Lender(s) or other purchaser, an “Assignee”) all of its
rights, interest and Obligations hereunder and under the Loan Documents.

     Upon the date of such purchase and sale, the Assignee shall pay to the Non-Consenting Lender
as the purchase price for its pro rata share of the Obligations, the full amount of all Loans and
other Obligations then outstanding and unpaid (including principal, interest, fees and expenses,
including reasonable attorneys’ fees and legal expenses) held by or owing to such Non-Consenting
Lender and furnish cash collateral or agree to indemnify such Non Consenting Lender in respect of
indemnification obligations of Borrowers under the Loan Documents (including reasonable attorneys’
fees and legal expenses) which are identified by the Non-Consenting Lender as being then due and
owing or which have been asserted and are liquidated or are otherwise ascertainable in amount, but
only to the extent not previously indemnified and reimbursed by the Borrowers and without
releasing, or affecting the indemnification obligations of Borrowers under the Loan Documents or
the survival of such provisions in favor of the Non-Consenting Lender, provided that, in no
event will any Lenders or the Assignee have any liability for amounts described herein in excess of
proceeds of Collateral received by the Lenders. The foregoing purchase price payments shall be
remitted by wire transfer in federal funds to such bank account as the Non-Consenting Lender may
designate in writing to the Assignee for such purpose. Interest shall be calculated to but
excluding the business day on which such purchase and sale shall occur if the amounts so paid by
Assignee to the bank account designated by the Non-Consenting Lender are received in such bank
account prior to 1:00 p.m., New York City time and interest shall be calculated to and including
such business day if the amounts so paid by the Assignee to the bank account designated by the
Non-Consenting Lender are received in such bank account later than 1:00 p.m., New York City time.
If the Non Consenting Lender also serves as Administrative Agent hereunder, then notwithstanding
any transfer and sale pursuant to this Section 11.13, such Non-Consenting Lender shall continue to
serve as Administrative Agent unless and until the Required Lenders shall otherwise determine in
accordance with the provisions of this Agreement.

     Such purchase and sale shall be expressly made without representation or warranty of any kind
by the Non-Consenting Lender as to the Loans so purchased or otherwise and without recourse to the
Non-Consenting Lender, except that the Non-Consenting Lender shall represent and warrant to the
Assignee and to each other Lender: (i) the amount of the Loans and other Obligations being
purchased from it, (ii) that such Non-Consenting Lender owns its portion of the Loans and other
Obligations so purchased free and clear of any Liens or encumbrances and (iii) such Non-Consenting
Lender has the right to assign such Loans and other Obligations and the assignment is duly
authorized by such Non-Consenting Lender.

81

 

     Upon any such assignment and payment and compliance with the other provisions hereunder, such
Non-Consenting Lender shall no longer constitute a “Lender” for purposes hereof; provided,
any rights of such Non-Consenting Lender to indemnification hereunder shall survive.

     (c) A Lender shall not be required to make any such assignment or delegation if, prior
thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the
Borrowers to require such assignment and delegation cease to apply.

11.14 Governing Law; Jurisdiction; Etc.

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

     (b) SUBMISSION TO JURISDICTION. EACH BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY
AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE
COURTS 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 ANY OTHER LOAN DOCUMENT, OR FOR
RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO 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 COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE 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 IN ANY OTHER LOAN DOCUMENT
SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT 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
ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

     (c) WAIVER OF VENUE. EACH BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND
UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT
MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY 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 APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION
OR PROCEEDING IN ANY SUCH COURT.

     (d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS
IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT
THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

82

 

11.15 Waiver of Right to Trial by Jury.

     EACH PARTY HERETO HEREBY IRREVOCABLY 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 OR 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 PERSON HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN
INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

11.16 USA PATRIOT Act Notice.

     Each Lender that is subject to the Act (as hereinafter defined) and the
Administrative Agent (for itself and not on behalf of any 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 each Borrower, which information includes the name and address of such Borrower and
other information that will allow such Lender or the Administrative Agent, as applicable, to
identify such Borrower in accordance with the Act.

11.17 Judgment Currency.

     If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum
due hereunder or any other Loan Document in one currency into another currency, the rate of
exchange used shall be that at which in accordance with normal banking procedures the
Administrative Agent could purchase the first currency with such other currency on the Business Day
preceding that on which final judgment is given. The obligation of each Loan Party in respect of
any such sum due from it to the Administrative Agent or the Lenders hereunder or under the other
Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”)
other than that in which such sum is denominated in accordance with the applicable provisions of
this Agreement (the “Agreement Currency”), be discharged only to the extent that on the
Business Day following receipt by the Administrative Agent of any sum adjudged to be so due in the
Judgment Currency, the Administrative Agent may in accordance with normal banking procedures
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 Administrative Agent from any Loan
Party in the Agreement Currency, such Loan Party agrees, as a separate obligation and
notwithstanding any such judgment, to indemnify the Administrative Agent or the Person to whom such
obligation was owing against such loss. If the amount of the Agreement Currency so purchased is
greater than the sum originally due to the Administrative Agent in such currency, the
Administrative Agent agrees to return the amount of any excess to such Loan Party (or to any other
Person who may be entitled thereto under applicable law).

11.18 Matters Relating to Borrowers’ Joint and Several Liability.

     (a) Joint and Several Liability of the Borrowers. Each of the Borrowers shall be
jointly and severally liable hereunder and under each of the other Loan Documents with respect to
all Obligations, regardless of which of the Borrowers actually receives the proceeds of the Loan or
the benefit of any other extensions of credit hereunder, or the manner in which the Borrower
Representative, the Borrowers,

83

 

the Lenders account therefor in their respective books and records. In furtherance and not in
limitation of the foregoing, (i) each Borrower’s obligations and liabilities with respect to
proceeds of Loans which it receives and (ii) each Borrower’s obligations and liabilities arising as
a result of the joint and several liability of the Borrowers hereunder with respect to proceeds of
the Loans received by or for the account of, any of the other Borrowers, together with the related
fees, costs and expenses, shall be separate and distinct obligations, both of which are primary
obligations of such Borrower. Without limiting the generality of the foregoing in any manner, all
representations and warranties of Borrowers’ contained herein are made jointly and severally. For
purposes of the agreements, representations, warranties and covenants contained in this Agreement
and in the other Financing Documents, the knowledge of one Borrower shall be imputed to all
Borrowers (including, without limitation, the Borrower Representative, and any consent by one
Borrower (including, without limitation, the Borrower Representative) shall constitute the consent
of and shall bind all Borrowers. Neither the joint and several liability of, nor the Liens granted
to the Administrative Agent under the Collateral Documents by, any of the Borrowers shall be
impaired or released by

     (i) the failure of the Administrative Agent or any Lender, any successors or assigns
thereof, or any holder of any Note or any of the Obligations to assert any claim or demand
or to exercise or enforce any right, power or remedy against the Borrower Representative,
any Borrower, any Subsidiary of any Borrower, any other Person, the Collateral or
otherwise;

     (ii) any extension or renewal for any period (whether or not longer than the original
period) or exchange of any of the Obligations or the release or compromise of any
obligation of any nature of any Person with respect thereto;

     (iii) the surrender, release or exchange of all or any part of any property (including
without limitation the Collateral) securing payment, performance and/or observance of any
of the Obligations or the compromise or extension or renewal for any period (whether or not
longer than the original period) of any obligations of any nature of any Person with
respect to any such property, or the existence, value or condition of, or failure to
perfect its Lien against, any security for the Obligations or any action, or the absence of
any action, by the Administrative Agent and Lenders in respect thereof (including the
release of any such security);

     (iv) any action or inaction on the part of the Administrative Agent or any Lender, or
any other event or condition with respect to any other Borrower, including any such action
or inaction or other event or condition, which might otherwise constitute a defense
available to, or a discharge of, such Borrower, or a guarantor or surety of or for any or
all of the Obligations;

     (v) any other act, matter or thing (other than payment or performance of the
Obligations) which would or might, in the absence of this provision, operate to release,
discharge or otherwise prejudicially affect the obligations of such or any other Borrower.

     (vi) the genuineness, validity, regularity, enforceability or any future amendment of,
or change in, this Agreement, any other Loan Document or any other agreement, document or
instrument to which any Borrower is or may become a party; or

     (vii) the insolvency of any Borrower or any Subsidiary of any Borrower.

     (b) Rights of Contribution. The Borrowers hereby agree as among themselves that, if
any Borrower shall make an Excess Payment (as defined below), such Borrower shall have a right of
contribution from each other Borrower in an amount equal to such other Borrower’s Contribution
Share (as defined below) of such Excess Payment. The payment obligations of any Borrower under
this Section

84

 

11.18 shall be subordinate and subject in right of payment to the Obligations until such time as
the Obligations have been paid in full in cash and all Commitments have terminated, and none of the
Borrowers shall exercise any right or remedy under this Section 11.18 against any other Borrower
until such time as all Obligations have been paid in full in cash and all Commitments have been
terminated. For purposes of this Section 11.18, (a) “Excess Payment” shall mean the amount
paid by any Borrower in excess of its Pro Rata Share of any Obligations; (b) “Pro Rata
Share” shall mean, for purposes of this Section 11.18 and for any Borrower in respect of any
payment of the Obligations, the ratio (expressed as a percentage) as of the date of such payment of
Obligations of (i) the amount by which the aggregate present fair salable value of all of its
assets and properties exceeds the amount of all debts and liabilities of such Borrower (including
contingent, subordinated, un-matured, and un-liquidated liabilities, but excluding the Obligations
of such Borrower hereunder) to (ii) the amount by which the aggregate present fair salable value of
its assets and other properties of all Borrowers exceeds the amount of all of the debts and
liabilities (including contingent, subordinated, un-matured, and un-liquidated liabilities, but
excluding the Obligations of all Borrowers hereunder) of the Borrowers; and (c) “Contribution
Share” shall mean, for any Borrower in respect of any Excess Payment made by any other
Borrower, the ratio (expressed as a percentage) as of the date of such Excess Payment of (i) the
amount by which the aggregate present fair salable value of all of its assets and properties
exceeds the amount of all debts and liabilities of such Borrower (including contingent,
subordinated, un-matured, and un-liquidated liabilities, but excluding the Obligations of such
Borrower hereunder) to (ii) the amount by which the aggregate present fair salable value of all
assets and other properties of the Borrowers other than the maker of such Excess Payment exceeds
the amount of all of the debts and liabilities (including contingent, subordinated, un-matured, and
un-liquidated liabilities, but excluding the Obligations of the Borrowers) of the Borrowers other
than the maker of such Excess Payment. Nothing in this Section 11.18 shall require any Borrower to
pay its Contribution Share of any Excess Payment in the absence of a demand therefor by the
Borrower that has made the Excess Payment. Without limiting the foregoing in any manner, it is
the intent of the parties hereto that as of any date of determination, no Contribution Amount of
any Borrower shall be equal to the maximum amount of the claim which could then be recovered from
such Borrower under this Section 11.18 without rendering such claim voidable or avoidable under
Section 548 of Chapter 11 of the Bankruptcy Code or under any applicable state Uniform Fraudulent
Transfer Act, Uniform Fraudulent Conveyance Act or similar statute or common law.

     (c) Waivers by Borrowers. Each Borrower expressly waives all rights it may have now
or in the future under any statute, or at common law, or at law or in equity, or otherwise, to
compel the Administrative Agent to marshal assets or to proceed in respect of the Obligations
guaranteed hereunder against any other Borrower or guarantor of the Obligations, any other party or
against any security for the payment and performance of the Obligations before proceeding against,
or as a condition to proceeding against, such Borrower. It is agreed among each Borrower and the
Lenders that the foregoing waivers are of the essence of the transaction contemplated by this
Agreement and the other Loan Documents and that, but for the provisions of this Section and such
waivers and the Lenders would decline to enter into this Agreement.

     (d) Subordination of Subrogation, Etc. Notwithstanding anything to the contrary in
this Agreement or in any other Loan Document, and except as set forth in subsection (E) below, each
Borrower hereby expressly and irrevocably subordinates to payment of the Obligations any and all
rights at law or in equity to subrogation, reimbursement, exoneration, contribution,
indemnification or set off and any and all defenses available to a surety, guarantor or
accommodation co-obligor until the Obligations are indefeasibly paid in full in cash. Each
Borrower acknowledges and agrees that this subordination is intended to benefit the Lenders and
shall not limit or otherwise affect such Borrower’s liability hereunder or the enforceability of
this Section 11.18, and that each Lender and the Administrative Agent (on their behalf) and their
respective successors and assigns are intended third party beneficiaries of the waivers and
agreements set forth herein.

85

 

     (e) Miscellaneous. This Section is intended only to define the relative rights of the
Borrowers and nothing set forth in this Section is intended to or shall impair the obligations of
the Borrowers, jointly and severally, to pay any amounts as and when the same shall become due and
payable in accordance with the terms of this Agreement or any other Loan Document. Nothing
contained in this Section shall limit the liability of any Borrower to pay the Loans made directly
or indirectly to that Borrower and accrued interest, Fees and expenses with respect thereto for
which such Borrower shall be primarily liable. The parties hereto acknowledge that the rights of
contribution and indemnification hereunder shall constitute assets of the Borrowers to which such
contribution and indemnification is owing. The rights of any indemnified Borrower against the
other Borrowers under this Section shall be exercisable upon the full and indefeasible payment of
the Obligations.

11.19 Oral Agreements.

     UNDER OREGON LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS MADE BY THE LENDERS AFTER OCTOBER
3, 1989, CONCERNING LOANS AND OTHER CREDIT EXTENSION WHICH ARE NOT FOR PERSONAL, FAMILY OR
HOUSEHOLD PURPOSES OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION, AND BE SIGNED BY THE LENDERS TO BE ENFORCEABLE.

[ BALANCE OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGES FOLLOW ]

86

 

     IN WITNESS WHEREOF, the parties hereto have caused this Second Lien Loan Agreement to be duly
executed as of the date first above written.

	 	 	 	 	 	 	 
	BORROWERS:	 	 	 	TRM CORPORATION,
	 	 	 	 	an Oregon corporation
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	     /s/ Daniel E. O’Brien
	 

	 	 	 	 	 	 
	 	 	 	 	Name: Daniel E. O’Brien
	 	 	 	 	Title: CFO
	 
	 	 	 	 	 	 
	 	 	 	 	TRM ATM CORPORATION, an Oregon
	 	 	 	 	corporation
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	     /s/ Daniel E. O’Brien
	 

	 	 	 	 	 	 
	 	 	 	 	Name: Daniel E. O’Brien
	 	 	 	 	Title: CFO
	 
	 	 	 	 	 	 
	 	 	 	 	TRM COPY CENTERS (USA) CORPORATION,
	 	 	 	 	an Oregon corporation
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	     /s/ Daniel E. O’Brien
	 

	 	 	 	 	 	 
	 	 	 	 	Name: Daniel E. O’Brien
	 	 	 	 	Title: CFO
	 
	 	 	 	 	 	 
	GUARANTORS:
	 	 	 	 	 	 
	 	 	 	 	ACCESS CASH INTERNATIONAL L.L.C.,
	 	 	 	 	a Delaware limited liability company
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	TRM ATM Corporation, its sole member
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	     /s/ Daniel E. O’Brien
	 

	 	 	 	 	 	 
	 	 	 	 	Name: Daniel E. O’Brien
	 	 	 	 	Title: CFO
	 
	 	 	 	 	 	 
	 	 	 	 	TRM (CANADA) CORPORATION, a
	 	 	 	 	corporation organized under the laws of Canada
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	     /s/ Daniel E. O’Brien
	 

	 	 	 	 	 	 
	 	 	 	 	Name: Daniel E. O’Brien
	 	 	 	 	Title: CFO

 

 

	 	 	 	 	 	 	 
	ADMINISTRATIVE
	 	 	 	 	 	 
	AGENT:	 	WELLS FARGO FOOTHILL, INC.,	 	 
	 	 	a California corporation, as Administrative Agent
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ Erik R. Sawyer	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Erik R. Sawyer	 	 
	 	 	Title: SVP	 	 

 

 

	 	 	 	 	 	 	 
	LENDERS:	 	GSO ORIGINATION FUNDING PARTNERS,	 	 
	 	 	LP, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	GSO Capital Partners, as Investment	 	 
	 

	 	 	 	Advisor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ George Fan	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	George Fan	 	 
	 

	 	Title:
	 	Managing Directorexv10w10

 

Exhibit 10.10

6TH JUNE 2006

£12,903,919.57

FACILITY AGREEMENT

TRM (ATM) LIMITED

GSO LUXEMBOURG ONSHORE FUNDING SarL

acting as Facility Agent and Security Agent

KattenMuchinRosenmanCornishLLP

1-3 Frederick’s Place

Old Jewry

London EC2R 8AE

 

 

CONTENTS

	 	 	 	 	 	 	 
	CLAUSE	 	 	 	PAGE
	1.

	 	DEFINITIONS AND INTERPRETATION
	 	 	4	 
	2.

	 	THE FACILITY
	 	 	11	 
	3.

	 	PURPOSE
	 	 	12	 
	4.

	 	CONDITIONS OF UTILISATION
	 	 	12	 
	5.

	 	UTILISATION
	 	 	12	 
	6.

	 	CURRENCY
	 	 	13	 
	7.

	 	REPAYMENT
	 	 	13	 
	8.

	 	PREPAYMENT AND CANCELLATION
	 	 	13	 
	9.

	 	INTEREST
	 	 	15	 
	10.

	 	INTEREST PERIODS
	 	 	16	 
	11.

	 	CHANGES TO THE CALCULATION OF INTEREST
	 	 	17	 
	12.

	 	FEES
	 	 	17	 
	13.

	 	TAX GROSS UP AND INDEMNITIES
	 	 	18	 
	14.

	 	INCREASED COSTS
	 	 	20	 
	15.

	 	OTHER INDEMNITIES
	 	 	21	 
	16.

	 	MITIGATION BY THE LENDERS
	 	 	22	 
	17.

	 	COSTS AND EXPENSES
	 	 	22	 
	18.

	 	REPRESENTATIONS
	 	 	24	 
	19.

	 	INFORMATION UNDERTAKINGS
	 	 	28	 
	20.

	 	FINANCIAL COVENANTS
	 	 	27	 
	21.

	 	POSITIVE UNDERTAKINGS
	 	 	32	 
	22.

	 	NEGATIVE UNDERTAKINGS
	 	 	34	 
	23.

	 	EVENTS OF DEFAULT
	 	 	36	 
	24.

	 	CHANGES TO THE LENDERS
	 	 	39	 
	25.

	 	ASSIGNMENT BY COMPANY
	 	 	39	 
	26.

	 	ROLE OF THE AGENTS
	 	 	43	 
	27.

	 	CONDUCT OF BUSINESS BY THE FINANCE PARTIES
	 	 	48	 
	28.

	 	SHARING AMONG THE FINANCE PARTIES
	 	 	48	 
	29.

	 	PAYMENT MECHANICS
	 	 	49	 
	30.

	 	SET-OFF
	 	 	51	 
	31.

	 	NOTICES
	 	 	51	 

2

 

	 	 	 	 	 	 	 
	CLAUSE	 	 	 	PAGE
	32.

	 	CALCULATIONS AND CERTIFICATES
	 	 	53	 
	33.

	 	PARTIAL INVALIDITY
	 	 	53	 
	34.

	 	REMEDIES AND WAIVERS
	 	 	53	 
	35.

	 	AMENDMENTS AND WAIVERS
	 	 	53	 
	36.

	 	COUNTERPARTS
	 	 	53	 
	37.

	 	GOVERNING LAW
	 	 	53	 
	38.

	 	ENFORCEMENT
	 	 	54	 

					
	SCHEDULE 1 THE ORIGINAL PARTIES

	 	 	55	 
	     Part A The Borrower

	 	 	55	 
	     Part B The Original Lender

	 	 	56	 
	SCHEDULE 2 CONDITIONS PRECEDENT

	 	 	57	 
	     Conditions precedent to Utilisation

	 	 	57	 
	SCHEDULE 3 UTILISATION REQUEST

	 	 	59	 
	SCHEDULE 4 MANDATORY COST FORMULAE

	 	 	60	 
	SCHEDULE 5 FORM OF TRANSFER CERTIFICATES

	 	 	63	 
	     Part A

	 	 	63	 
	     Part B LMA Transfer Certificate (PAR)

	 	 	65	 
	SCHEDULE 6 COMPLIANCE CERTIFICATE

	 	 	69	 
	SCHEDULE 7 FORM OF LMA CONFIDENTIALITY UNDERTAKING

	 	 	71	 
	 
	 	 	 	 
	SCHEDULE 8 EXISTING INDEBTEDNESS

	 	 	71	 
	SCHEDULE 9 MATERIAL CONTRACTS

	 	 	72	 

3

 

THIS AGREEMENT is dated 6th June 2006 and made between:

	(1)	 	TRM ATM LIMITED, a company incorporated in England and Wales whose registered office is at 1a
Meadowbank,, Maxwell Way, Crawley RH10 9SA England and with company number 3782309 (the
Company);
	 
	(2)	 	GSO LUXEMBOURG ONSHORE FUNDING SarL, a limited company formed under the laws of the Grand
Duchy of Luxembourg and having its principal office at 122 Rue Adolphe Fischer L-1521
Luxembourg (the Original Lender);
	 
	(3)	 	GSO LUXEMBOURG ONSHORE FUNDING SarL as facility agent of the other Finance Parties (the
Facility Agent); and
	 
	(4)	 	GSO LUXEMBOURG ONSHORE FUNDING SarL as security agent of the other Finance Parties (the
Security Agent).

IT IS AGREED as follows:

	1.	 	DEFINITIONS AND INTERPRETATION

	 	1.1	 	Definitions

In this Agreement:

Additional Cost Rate has the meaning given to it in Schedule 4 (Mandatory Cost Formulae).

Affiliate means, in relation to any person, a Subsidiary of that person or a Holding Company
of that person or any other Subsidiary of that Holding Company.

Agents means the Facility Agent and the Security Agent, as applicable in the context.

Agreed Form means in such form and substance as is acceptable to the Agents on behalf of the
Lenders.

Authorisation means an authorisation, consent, approval, resolution, licence, exemption,
filing, notarisation or registration.

Available Commitment means a Lender’s Commitment.

Available Facility means the aggregate for the time being of each Lender’s Available
Commitment.

Break Costs means the amount (if any) by which:

	 	(a)	 	the interest which a Lender should have received for the period starting on the
date of receipt of all or any part of its participation in the Loan or Unpaid Sum and
ending on the last day of the current Interest Period in respect of the Loan or Unpaid
Sum, had the principal amount or Unpaid Sum received been paid on the last day of that
Interest Period;

exceeds:

	 	(b)	 	the amount which that Lender would be able to obtain by placing an amount equal to
the principal amount or Unpaid Sum received by it on deposit with a leading bank in the

4

 

London Interbank Market for a period starting on the Business Day following receipt or
recovery and ending on the last day of the current Interest Period.

Business Day means a day (other than a Saturday or Sunday) on which banks are open for general
business in London, Luxembourg and New York.

Commitment means:

	 	(a)	 	in relation to an Original Lender, the amount set opposite its name under the
heading Commitment in Part B of Schedule 1(The Original Parties) and the amount of any
other Commitment transferred to it under this Agreement; and
	 
	 	(b)	 	in relation to any other Lender, the amount any Commitment transferred to it under
this Agreement,

to the extent not cancelled, reduced or transferred by it under this Agreement.

Compliance Certificate means a certificate in the form set out in Schedule 6;

Confidentiality Undertaking means a confidentiality undertaking substantially in a recommended
form of the LMA as set out in Schedule 7 (LMA Form of Confidentiality Undertaking) or in any other
form agreed between the Company and the Agents.

Debenture means a fixed and floating charge over the assets of the Company in favour of the
Security Agent executed on the date of this Agreement.

Default means an Event of Default or any event or circumstance specified in clause 23 (Events
of Default) which would (with the expiry of a grace period, the giving of notice, the making of any
determination under the Finance Documents or any combination of any of the foregoing) be an Event
of Default.

Event of Default means any event or circumstance specified as such in clause 23 (Events of
Default).

Facility means the loan facility made available under this Agreement as described in clause 2
(The Facility).

Facility Office means the office or offices notified by a Lender to the Agents in writing on
or before the date it becomes a Lender (or, following that date, by not less than five Business
Days’ written notice) as the office or offices through which it will perform its obligations under
this Agreement.

Finance Document means:

	 	(a)	 	this Agreement;
	 
	 	(b)	 	the Security Documents;
	 
	 	(c)	 	any other document designated as such by the Agents and the Company.

Finance Party means the Facility Agent, the Security Agent or a Lender.

Financial Indebtedness means (without double-counting) any indebtedness for or in respect of:

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	 	(a)	 	moneys borrowed;
	 
	 	(b)	 	any amount raised by acceptance under any acceptance credit facility or
dematerialised equivalent;
	 
	 	(c)	 	any amount raised pursuant to any note purchase facility or the issue of bonds,
notes, debentures, loan stock or any similar instrument;
	 
	 	(d)	 	the amount of any liability in respect of any lease, hire purchase or conditional
sale contract;
	 
	 	(e)	 	receivables sold, assigned or discounted (other than any receivables to the extent
they are sold on a non-recourse basis);
	 
	 	(f)	 	all obligations in respect of the deferred purchase price of property or services
(including trade accounts payable in the ordinary course of business which, by their
express terms are not due earlier than 120 days after the date on which such trade
account payable was created);
	 
	 	(g)	 	the Attributable Indebtedness of Capital Leases, Synthetic Leases and
Securitization Transactions (all as defined in the US Credit Agreement as if the same
were restated in this Agreement and notwithstanding the fact that the US Credit Agreement
may have terminated);
	 
	 	(h)	 	any amount raised under any other transaction (including any forward sale or
purchase agreement) having the commercial effect of a borrowing or a guarantee;
	 
	 	(i)	 	any derivative transaction entered into in connection with protection against or
benefit from fluctuation in any rate or price (and, when calculating the value of any
derivative transaction, only the marked to market value shall be taken into account);
	 
	 	(j)	 	the acquisition cost of any asset to the extent payable before or after the time of
acquisition and possession by the party liable therefor where the advance or deferred
payment is arranged primarily as a method of raising finance or of financing the
acquisition of that asset;
	 
	 	(k)	 	any counter-indemnity obligation in respect of a guarantee, indemnity, bond,
standby or documentary letter of credit or any other instrument issued by a bank or
financial institution; and
	 
	 	(l)	 	the amount of any liability in respect of any guarantee or indemnity (whether a
sole, joint or several liability) for any of the items referred to in paragraphs (a) to
(k),

GAAP means generally accepted accounting principles and/or standards required to be complied
with by relevant laws and/or by the regulatory body of the accounting profession which are
applicable in the USA.

Group means the Company and its Subsidiaries.

Guarantee means the Guarantee of the obligations of the Company hereunder by TRM.

6

 

Holding Company means, in relation to a company or corporation, any other company or
corporation in respect of which it is a Subsidiary.

Interest Period means, in relation to the Loan, each period determined in accordance with
clause 10 (Interest Periods) and, in relation to an Unpaid Sum, each period determined in
accordance with clause 9.3 (Default interest).

Investment means any investment, made in cash or by delivery of property, by the Company or
any of its Subsidiaries:

	 	(a)	 	in any person, whether by acquisition of stock, Financial Indebtedness or other
obligation or security, or by loan, guarantee, advance, capital contribution or
otherwise; or
	 
	 	(b)	 	in any property.

Lender means:

	 	(a)	 	the Original Lender; and
	 
	 	(b)	 	any bank, financial institution, trust, fund or other person which has become a
Party in accordance with clause 24 (Changes to the Lenders),

which in each case has not ceased to be a Party in accordance with the terms of this Agreement.

LIBOR means, in relation to the Loan:

	 	(a)	 	the applicable Screen Rate; or
	 
	 	(b)	 	(if no Screen Rate is available for the currency or Interest Period of the Loan)
such rate as the Facility Agent may determine,

as of the Specified Time on the Quotation Day for the offering of deposits in the currency of that
Loan and for a period comparable to the relevant Interest Period.

LMA means the Loan Market Association.

Loan means the loan made or to be made under the Facility or the principal amount outstanding
for the time being of that loan.

Mandatory Cost means the percentage rate per annum calculated by the Agents in accordance with
Schedule 4 (Mandatory Cost Formulae).

Margin means 4.00 per cent. per annum.

Material Adverse Effect means a material adverse effect on:

	(a)	 	the business, assets, liabilities, (whether actual or contingent) properties, financial
condition or prospects of the TRM Group taken as a whole or the Group taken as a whole; or
	 
	(b)	 	the ability of the Company or TRM to observe or perform its payment obligations under the
Finance Documents or its obligations pursuant to clause 20 (Financial Covenants); or

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	(c)	 	the legality, validity or enforceability of the Finance Documents.

Material Contract means any of the following contracts to which the Company or a Subsidiary is
party:

	 	(a)	 	employment contracts for senior management of the Company or a Subsidiary;
	 
	 	(b)	 	leases;
	 
	 	(c)	 	intellectual property licences;
	 
	 	(d)	 	any agreements where the annual payments exceed £250,000; and
	 
	 	(e)	 	any agreements entered into other than in the ordinary course of business

Month means a period starting on one day in a calendar month and ending on the numerically
corresponding day in the next calendar month, except that:

	 	(a)	 	(subject to paragraph (c)) if the numerically corresponding day is not a Business
Day, that period shall end on the next Business Day in that calendar month in which that
period is to end if there is one, or if there is not, on the immediately preceding
Business Day;
	 
	 	(b)	 	if there is no numerically corresponding day in the calendar month in which that
period is to end, that period shall end on the last Business Day in that calendar month;
and
	 
	 	(c)	 	if an Interest Period begins on the last Business Day of a calendar month, that
Interest Period shall end on the last Business Day in the calendar month in which that
Interest Period is to end.

The above rules will only apply to the last Month of any period.

Original Financial Statements means the audited consolidated financial statements of the TRM Group
for the financial year ended 31st December 2005.

Party means a party to this Agreement.

Quotation Day means, in relation to any period for which an interest rate is to be determined,
the first day of that period.

Repeating Representations means each of the representations set out in clause 18.

Screen Rate means in relation to LIBOR, the British Bankers Association Interest Settlement
Rate for the relevant currency and period displayed on the appropriate page of the Reuters screen.
If the agreed page is replaced or service ceases to be available, the Agents may specify another
page or service displaying the appropriate rate after consultation with the Company and the
Lenders.

Security means a mortgage, charge, pledge, lien, hypothecation, assignment by way of security,
title retention arrangement or other security interest securing any obligation of any person or any
other agreement or arrangement having a similar effect.

Security Documents means the Debenture, the Guarantee, the Share Charge and any other
documents from time to time evidencing security given by the Company to the Lenders.

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Share Charge means the Charge of even date herewith over the shares in the Company executed by
TRM;

Sterling or £ means the lawful currency for the time being of the United Kingdom.

Subsidiary means a subsidiary within the meaning of section 736 of the Companies Act 1985.

Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature
(including any penalty or interest payable in connection with any failure to pay or any delay in
paying any of the same).

Taxes Act means the Income and Corporation Taxes Act 1988.

Termination Date means 6th June 2011

Total Commitments means the aggregate of the Commitments, being £12,903,919.57 at the date of
this Agreement.

Transfer Certificate means a certificate substantially in one of the forms set out in Schedule
5 (Form of Transfer Certificates) or any other form agreed between the Agents and the Company.

Transfer Date means, in relation to a transfer, the later of:

	 	(a)	 	the proposed Transfer Date specified in the Transfer Certificate; and
	 
	 	(b)	 	the date on which the Agents execute the Transfer Certificate.

TRM means TRM Corporation, a corporation organised and existing under the laws of the State of
Oregon, USA of 5208 N.E. 122nd Avenue, Portland, OR 97230 USA.

TRM Germany means TRM (ATM) Deutschland GmbH registered in Hamburg with company number HRB92724.

TRM Group means TRM and its Subsidiaries.

Unpaid Sum means any sum due and payable but unpaid by the Company under the Finance Documents.

Utilisation means the utilisation of the Facility.

Utilisation Request means a notice substantially in the form set out in Schedule 3
(Utilisation Request).

US Credit Agreement means a credit agreement of even date herewith between TRM, TRM ATM
Corporation, TRM Copy Centers (USA) Corporation, GSO Origination Funding Partners LP and Wells
Fargo Foothill Inc.;

VAT means value added tax as provided for in the Value Added Tax Act 1994 and any other tax of
a similar nature whether charged in the United Kingdom or elsewhere.

	 	1.2	 	Construction

	(a)	 	Unless the contrary intention appears, any reference in this Agreement to:

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	 	(i)	 	the Agents, any Finance Party, any Lender, any Party or any person shall be construed
so as to include its successors in title, permitted assigns and permitted transferees;
	 
	 	(ii)	 	an agreement also includes a concession, contract, deed, franchise, treaty or
undertaking (in each case, whether oral or written);
	 
	 	(iii)	 	an amendment includes a supplement, novation, restatement or re-enactment and amend
and amended (or any of their derivative forms) will be construed accordingly;
	 
	 	(iv)	 	assets includes present and future properties, revenues and rights of every
description;
	 
	 	(v)	 	disposal includes a sale, transfer, grant, lease or other disposal, whether voluntary
or involuntary, and dispose will be construed accordingly;
	 
	 	(vi)	 	a Finance Document or any other agreement or instrument is a reference to that Finance
Document or other agreement or instrument as amended;
	 
	 	(vii)	 	a financial statement includes the notes to that financial statement;
	 
	 	(viii)	 	a guarantee also includes any other obligation (whatever called) of any person to pay,
purchase, provide funds (whether by way of the advance of money, the purchase of or
subscription for shares or other securities, the purchase of assets or services, or
otherwise) for the payment of, indemnity against the consequences of default in the payment
of, or otherwise be responsible for, any indebtedness of any other person;
	 
	 	(ix)	 	the expressions hereof, herein, hereunder and similar expressions shall be construed as
references to this Agreement as a whole (including all Schedules) and shall not be limited
to the particular clause or provision in which the relevant expression appears, and
references to this Agreement and all like indications shall include references to this
Agreement as supplemented by all Transfer Certificates and any other agreement or
instrument which amends this Agreement;
	 
	 	(x)	 	include or including shall be construed without limitation;
	 
	 	(xi)	 	indebtedness includes any obligation (whether incurred as principal or as surety) for
the payment or repayment of money, whether present or future, actual or contingent;
	 
	 	(xii)	 	a person includes any individual, firm, company, corporation, unincorporated
association or body (including a partnership, trust, joint venture or consortium),
government, state, agency, organisation or other entity (whether or not having separate
legal personality) or two or more of the foregoing;
	 
	 	(xiii)	 	a regulation includes any regulation, rule, treaty, official directive, request or
guideline (whether or not having the force of law) of any governmental, intergovernmental
or supranational body, agency, department or regulatory, self-regulatory or other authority
or organisation;
	 
	 	(xiv)	 	repay (or any of its derivative forms) includes prepay (or any of its derivative
forms);
	 
	 	(xv)	 	a provision of law is a reference to that provision as extended, applied or amended and
includes any subordinate legislation; and

10

 

	 	(xvi)	 	a time of day is a reference to London time.

	(b)	 	Section, clause and Schedule headings are for ease of reference only.
	 
	(c)	 	Unless the contrary intention appears:

	 	(i)	 	a reference to a Party will not include that Party if it has ceased to be a Party under
this Agreement;
	 
	 	(ii)	 	a term used in any other Finance Document or in any notice given in connection with any
Finance Document has the same meaning in that Finance Document or notice as in this
Agreement;
	 
	 	(iii)	 	if there is an inconsistency between this Agreement and any other Finance Document
this Agreement will prevail; and
	 
	 	(iv)	 	any obligation of the Company under the Finance Documents which is not a payment
obligation remains in force for so long as any payment obligation is or may be outstanding
under the Finance Documents.

	(d)	 	A Default (other than an Event of Default) is continuing if it has not been remedied or
waived and an Event of Default is continuing if it has not been waived.

	 	1.3	 	Third Party Rights

	(a)	 	Unless expressly provided to the contrary in a Finance Document a person who is not a party
to a Finance Document may not enforce any of its terms under the Contracts (Rights of Third
Parties) Act 1999 (the Third Parties Act).
	 
	(b)	 	Notwithstanding any term of any Finance Document, the consent of any third party is not
required to rescind, vary, amend or terminate a Finance Document at any time.

	2.	 	THE FACILITY

	 	2.1	 	The Facility

Subject to the terms of this Agreement, the Lenders shall make available to the Company a
loan facility in an aggregate amount equal to the Total Commitments.

	 	2.2	 	Finance Parties’ rights and obligations

	(a)	 	The obligations of each Finance Party under the Finance Documents are several. Failure by a
Finance Party to perform its obligations under the Finance Documents does not affect the
obligations of any other Party under the Finance Documents. No Finance Party is responsible
for the obligations of any other Finance Party under the Finance Documents.
	 
	(b)	 	The rights of each Finance Party under or in connection with the Finance Documents are
separate and independent rights and any debt arising under the Finance Documents to a Finance
Party from the Company shall be a separate and independent debt.
	 
	(c)	 	A Finance Party may, except as otherwise stated in the Finance Documents, separately enforce
its rights under the Finance Documents.

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	3.	 	PURPOSE

	 	3.1	 	Purpose

The Company shall apply all amounts borrowed by it under the Facility towards:

	 	3.1.1	 	repayment of Financial Indebtedness to Bank of America;
	 
	 	3.1.2	 	repayment of Financial Indebtedness owing by the Company to TRM;
	 
	 	3.1.3	 	payment of, fees and expenses in connection with the negotiation and
implementation of this Agreement; and
	 
	 	3.1.4	 	general corporate purposes.

	 	3.2	 	Monitoring

No Finance Party is bound to monitor or verify the application of any amount borrowed
pursuant to this Agreement.

	4.	 	CONDITIONS OF UTILISATION

	 	4.1	 	Initial conditions precedent

The Company may not deliver the Utilisation Request unless the Agents have received all of
the documents and other evidence listed in Schedule 2 (Conditions precedent) in form and
substance satisfactory to the Agents. The Agents shall notify the Company and the Lenders
promptly upon being so satisfied.

	 	4.2	 	Further conditions precedent

The Lenders will only be obliged to comply with clause 5.3 (Lenders’ participation) if on
the date of the Utilisation Request:

	(a)	 	no Event of Default is continuing or would result from the making of the Loan; and
	 
	(b)	 	the Repeating Representations to be made by the Company are (and if the Loan is made, will
be) true in all material respects.
	 
	5.	 	UTILISATION

	 	5.1	 	Delivery of a Utilisation Request

The Company may utilise the Facility by delivery to the Agents of a duly completed
Utilisation Request on the date hereof.

	 	5.2	 	Completion of a Utilisation Request

The Utilisation Request is irrevocable and will not be regarded as having been duly
completed unless the amount is the amount of the Total Commitments.

	 	5.3	 	Lenders’ participation

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	(a)	 	If the conditions set out in this Agreement have been met, each Lender shall make its
participation in the Loan available on the date hereof through its Facility Office.
	 
	(b)	 	The amount of each Lender’s participation in the Loan will be equal to the proportion borne
by its Available Commitment to the Available Facility immediately prior to making the Loan.
	 
	6.	 	CURRENCY

	 	6.1	 	Currency

The Facility is denominated in and is only available in sterling.

	7.	 	REPAYMENT

	 	7.1	 	Repayment of Loan

The Loan shall be repaid in quarterly instalments of £32,259.80 on 31st March,
30th June, 30th September and 31st December in each year.
The first such payment shall be made on 30th September 2006. The full amount
of the outstanding principal shall be repaid on the 6th June 2011, being the
Termination Date.

	8.	 	PREPAYMENT AND CANCELLATION

	 	8.1	 	Illegality

If it becomes unlawful in any jurisdiction for a Lender to perform any of its obligations as
contemplated by this Agreement or to fund or maintain its participation in the Loan:

	(a)	 	that Lender shall promptly notify the Agents upon becoming aware of that event;
	 
	(b)	 	upon the Agents notifying the Company, the Commitment of that Lender will be immediately
cancelled; and
	 
	(c)	 	upon the Agents notifying the Company, the Company shall repay that Lender’s participation in
the Loan made on the last day of the Interest Period for the Loan occurring after the Agents
have notified the Company or, if earlier, the date specified by the Lender in the notice
delivered to the Agents (being no earlier than the last day of any applicable grace period
permitted by law).

	 	8.2	 	Voluntary prepayment of Loan

The Company may, if it gives the Agents not less than 10 Business Days’ (or such shorter
period as the Lenders may agree) prior notice, prepay the whole or any part of the Loan (but
if in part, being an amount that reduces the outstanding amount of the Loan by a minimum
amount of £1,000,000). Any partial prepayment will be applied to principal amounts
outstanding in inverse order of maturity.

	 	8.3	 	Mandatory Prepayments

	(a)	 	The Company shall prepay amounts equal to the following when the same shall be received from
the sale price of assets sold outside the ordinary course of business in excess of £250,000 in
any year;

13

 

	(b)	 	Within 90 days after the end of tax year ending on or after 31st December 2007 the
Company shall repay an amount equal to equal to 50% (or, if the Consolidated Leverage Ratio as
of the last day of any such fiscal year is less than 2.0 to 1.0, 25%) of the UK Pro Rata Share
of Consolidated Excess Cash Flow for such fiscal year (provided that and for so long as any
portion of Consolidated Excess Cash Flow otherwise payable hereunder, but not constituting the
UK Pro Rata Share, is actually paid and applied to the repayment of the indebtedness in
accordance with the terms of the US Credit Agreement as if the same were restated in this
Agreement notwithstanding the fact that the US Credit Agreement may have terminated). For
purposes of this clause, “UK Pro Rata Share” means the proportion that the amount outstanding
under this Agreement bears to the then outstanding principal balance of all loan and other
obligations outstanding under this Agreement and the US Credit Agreement. The term
“Consolidated Excess Cash Flow” is defined in the US Credit Agreement as if the same were
restated in this Agreement notwithstanding the fact that the US Credit Agreement may have
terminated;
	 
	(c)	 	The Company shall prepay amounts equal to the amount of any loan taken by it other than in
accordance with the terms of this Agreement.
	 
	(d)	 	The Company shall prepay amounts equal to the amount (after issue expenses) of any issue of
capital made by it.

	 	8.4	 	Right of repayment and cancellation in relation to a single Lender

	(a)	 	If:

	 	(i)	 	any sum payable to any Lender by the Company is required to be increased under
paragraph (c) of clause 13.2 (Tax gross-up); or
	 
	 	(ii)	 	any Lender claims indemnification from the Company under clause 13.3 (Tax indemnity) or
clause 14.1 (Increased costs),

the Company may, whilst the circumstance giving rise to the requirement or indemnification
continues, give the Agents notice of cancellation of the Commitment of that Lender and its
intention to procure the repayment of that Lender’s participation in the Loan.

	(b)	 	On receipt of a notice referred to in paragraph (a), the Commitment of that Lender shall
immediately be reduced to zero.
	 
	(c)	 	On the last day of each Interest Period which ends after the Company has given notice under
paragraph (a) (or, if earlier, the date specified by the Company in that notice), the Company
shall repay that Lender’s participation in the Loan.

	 	8.5	 	Restrictions

	(a)	 	Any notice of cancellation or prepayment given by any Party under this clause 8 shall be
irrevocable and, unless a contrary indication appears in this Agreement, shall specify the
date or dates upon which the relevant cancellation or prepayment is to be made and the amount
of that cancellation or prepayment.

14

 

	(b)	 	Any prepayment under this Agreement shall be made together with accrued interest on the
amount prepaid and, subject to any Break Costs, without premium or penalty.
	 
	(c)	 	No part of the Facility which is prepaid may be reborrowed.
	 
	(d)	 	The Company shall not repay or prepay all or any part of the Loan or cancel all or any part
of the Commitments except at the times and in the manner expressly provided for in this
Agreement.
	 
	(e)	 	No amount of the Total Commitments cancelled under this Agreement may be subsequently
reinstated.
	 
	(f)	 	If the Agents receive a notice under this clause 8 they shall promptly forward a copy of that
notice to either the Company or the affected Lender, as appropriate.

	 	8.6	 	Mandatory Cancellation

If a Utilisation Request in respect of the Loan shall not have been drawn by the close of
business on the date hereof, the Commitments shall ipso facto be cancelled.

	9.	 	INTEREST

	 	9.1	 	Calculation of interest

The rate of interest on the Loan for each Interest Period is the percentage rate per annum
that is the aggregate of the applicable:

	(a)	 	Margin;
	 
	(b)	 	LIBOR; and
	 
	(c)	 	Mandatory Cost, if any.

	 	9.2	 	Payment of interest

The Company shall pay accrued interest on the outstanding amount of the Loan on the last day
of each Interest Period.

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	 	9.3	 	Default interest

	(a)	 	If the Company fails to pay any amount payable by it under a Finance Document on its due
date, interest shall accrue on the overdue amount from the due date up to the date of actual
payment (both before and after judgment) at a rate which, subject to paragraph (b), is 2 per
cent. higher than the rate which would have been payable if the overdue amount had, during the
period of non-payment, constituted part of the Loan in the currency of the overdue amount for
successive Interest Periods, each of a duration selected by the Agents (acting reasonably).
Any interest accruing under this clause 9.3 shall be immediately payable by the Company on
demand by the Agents.
	 
	(b)	 	If any overdue amount consists of part of the Loan which became due on a day which was not
the last day of an Interest Period:

	 	(i)	 	the first Interest Period for that overdue amount shall have a duration equal to the
unexpired portion of the current Interest Period relating to the Loan; and
	 
	 	(ii)	 	the rate of interest applying to the overdue amount during that first Interest Period
shall be 2 per cent. higher than the annual rate which would have applied if the overdue
amount had not become due.

	(c)	 	Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue
amount at the end of each Interest Period applicable to that overdue amount but will remain
immediately due and payable.

	 	9.4	 	Notification of rates of interest

The Agents shall promptly notify the Lenders and the Company of the determination of a rate
of interest under this Agreement.

	10.	 	INTEREST PERIODS

	 	10.1	 	Length of Interest Periods

	(a)	 	Each Interest Period shall be of three months’ duration.
	 
	(b)	 	An Interest Period for the Loan which would otherwise end after the Termination Date shall
end on the Termination Date.
	 
	(c)	 	The first Interest Period for the Loan shall start on the date hereof and each subsequent
Interest Period shall commence on the final day of the immediately preceding Interest Period.

	 	10.2	 	Non-Business Days

If an Interest Period would otherwise end on a day which is not a Business Day, that
Interest Period will instead end on the next Business Day in that calendar month (if there
is one) or the preceding Business Day (if there is not).

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	11.	 	CHANGES TO THE CALCULATION OF INTEREST

	 	11.1	 	Market disruption

	(a)	 	If a Market Disruption Event occurs in relation to the Loan for any Interest Period, then the
rate of interest on each Lender’s share of the Loan for the Interest Period shall be the rate
per annum which is the sum of:

	 	(i)	 	the Margin;
	 
	 	(ii)	 	the rate notified to the Agents by that Lender as soon as practicable and in any event
before interest is due to be paid in respect of that Interest Period, to be that which
expresses as a percentage rate per annum the cost to that Lender of funding its
participation in the Loan from whatever source it may reasonably select; and
	 
	 	(iii)	 	the Mandatory Cost, if any, applicable to that Lender’s participation in the Loan.

     (b) In this Agreement Market Disruption Event means:

	 	(i)	 	at or about noon on the Quotation Day for the relevant Interest Period the Screen Rate
is not available; or
	 
	 	(ii)	 	before close of business in London on the Quotation Day for the relevant Interest
Period, the Agents receive notifications from a Lender or Lenders (whose aggregate
participations in the Loan exceed 35 per cent. of the Loan) that the cost to it or them of
obtaining matching deposits in the Relevant Interbank Market would be in excess of LIBOR.

	 	11.2	 	Alternative basis of interest or funding

	(a)	 	If a Market Disruption Event occurs and the Agents or the Company so requires, the Agents and
the Company shall enter into negotiations (for a period of not more than thirty days) with a
view to agreeing a substitute basis for determining the rate of interest.

	(b)	 	Any alternative basis agreed pursuant to paragraph (a) shall, with the prior consent of all
the Lenders and the Company, be binding on all Parties.

	 	11.3	 	Break Costs

	(a)	 	The Company shall, within three Business Days of demand by a Finance Party, pay to that
Finance Party its Break Costs attributable to all or any part of the Loan or Unpaid Sum being
paid by the Company on a day other than the last day of an Interest Period for the Loan or
Unpaid Sum.

	(b)	 	Each Lender shall, as soon as reasonably practicable after a demand by the Agents, provide a
certificate confirming the amount of its Break Costs for any Interest Period in which they
accrue.

	12.	 	FEES

	 	12.1	 	Commitment fee

The Company shall on the date hereof pay to the Agents (for the account of each Lender) a
fee computed at the rate of 2 per cent. of the Available Commitment.

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	13.	 	TAX GROSS UP AND INDEMNITIES

	 	13.1	 	Definitions

	(a)	 	In this Agreement:
	 
	 	 	Protected Party means a Finance Party which is or will be subject to any liability, or
required to make any payment, for or on account of Tax in relation to a sum received or
receivable (or any sum deemed for the purposes of Tax to be received or receivable) under a
Finance Document.
	 
	 	 	Tax Credit means a credit against, relief or remission for, or repayment of any Tax.
	 
	 	 	Tax Deduction means a deduction or withholding for or on account of Tax from a payment under
a Finance Document.
	 
	 	 	Tax Payment means either the increase in a payment made by the Company to a Finance Party
under clause 13.2 (Tax gross-up) or a payment under clause 13.3 (Tax indemnity).

	 	13.2	 	Tax gross-up

	(a)	 	The Company shall make all payments to be made by it without any Tax Deduction, unless a Tax
Deduction is required by law.
	 
	(b)	 	The Company shall promptly upon becoming aware that it must make a Tax Deduction (or that
there is any change in the rate or the basis of a Tax Deduction) notify the Agents
accordingly. Similarly, a Lender shall notify the Agents on becoming so aware in respect of a
payment payable to that Lender. If the Agents receive such notification from a Lender they
shall notify the Company.
	 
	(c)	 	If a Tax Deduction is required by law to be made by the Company, the amount of the payment
due from the Company shall be increased to an amount which (after making any Tax Deduction)
leaves an amount equal to the payment which would have been due if no Tax Deduction had been
required.
	 
	(d)	 	If the Company is required to make a Tax Deduction, the Company shall make that Tax Deduction
and any payment required in connection with that Tax Deduction within the time allowed and in
the minimum amount required by law.
	 
	(e)	 	Within thirty days of making either a Tax Deduction or any payment required in connection
with that Tax Deduction, the Company shall deliver to the Agents for the Finance Party
entitled to the payment evidence reasonably satisfactory to that Finance Party that the Tax
Deduction has been made or (as applicable) any appropriate payment paid to the relevant taxing
authority.

18

 

	 	13.3	 	Tax indemnity

	(a)	 	The Company shall (within three Business Days of demand by the Agents) pay to a Protected
Party an amount equal to the loss, liability or cost which that Protected Party in good faith
determines will be or has been (directly or indirectly) suffered for or on account of Tax by
that Protected Party in respect of a Finance Document.

	(b)	 	Paragraph (a) shall not apply:

	 	(i)	 	with respect to any Tax assessed on a Finance Party:

	 	(A)	 	under the law of the jurisdiction in which that Finance Party is incorporated
or, if different, the jurisdiction (or jurisdictions) in which that Finance Party is
treated as resident for tax purposes; or
	 
	 	(B)	 	under the law of the jurisdiction in which that Finance Party’s Facility Office
is located in respect of amounts received or receivable in that jurisdiction,
	 
	 	 	 	if that Tax is imposed on or calculated by reference to the net income received or
receivable (but not any sum deemed to be received or receivable) by that Finance
Party; or

	 	(ii)	 	to the extent a loss, liability or cost is compensated for by an increased payment
under clause 13.2 (Tax gross-up).

	(c)	 	A Protected Party making, or intending to make a claim under paragraph (a) shall promptly
notify the Agents of the event which will give, or has given, rise to the claim, following
which the Agents shall notify the Company.

	(d)	 	A Protected Party shall, on receiving a payment from the Company under this clause 13.3,
notify the Agents.

	 	13.4	 	Tax Credit

If the Company makes a Tax Payment and the relevant Finance Party determines that:

	(a)	 	a Tax Credit is attributable either to an increased payment of which that Tax Payment forms
part, or to that Tax Payment; and
	 
	(b)	 	that Finance Party has obtained, utilised and retained that Tax Credit,
	 
	 	 	the Finance Party shall pay an amount to the Company which that Finance Party determines
will leave it (after that payment) in the same after-Tax position as it would have been in
had the Tax Payment not been required to be made by the Company and the circumstances giving
rise to it had not arisen.

	 	13.5	 	Stamp taxes

The Company shall pay and, within three Business Days of demand, indemnify each Finance
Party against any cost, loss or liability that Finance Party incurs in relation to all stamp
duty, registration and other similar Taxes payable in respect of any Finance Document.

19

 

	 	13.6	 	Value added tax

	(a)	 	All consideration expressed to be payable under a Finance Document by any Party to a Finance
Party shall be deemed to be exclusive of any VAT. If VAT is chargeable on any supply made by
any Finance Party to any Party in connection with a Finance Document, that Party shall pay to
the Finance Party (in addition to and at the same time as paying the consideration) an amount
equal to the amount of the VAT.

	(b)	 	Where a Finance Document requires any Party to reimburse a Finance Party for any costs or
expenses, that Party shall also at the same time pay and indemnify the Finance Party against
all VAT incurred by the Finance Party in respect of the costs or expenses to the extent that
the Finance Party reasonably determines that it is not entitled to credit or repayment of the
VAT.

	14.	 	INCREASED COSTS

	 	14.1	 	Increased costs

	(a)	 	Subject to clause 14.3 (Exceptions) the Company shall, within three Business Days of a demand
by the Agents, pay for the account of a Finance Party the amount of any Increased Costs
incurred by that Finance Party or any of its Affiliates as a result of:

	 	(i)	 	the introduction of or any change in (or in the interpretation, administration or
application of) any law or regulation; or
	 
	 	(ii)	 	compliance with any law or regulation,

in each case made, enacted or imposed after the date of this Agreement.

	(b)	 	In this Agreement Increased Costs means:

	 	(i)	 	a reduction in the rate of return from the Facility or on a Finance Party’s (or its
Affiliate’s) overall capital;
	 
	 	(ii)	 	an additional or increased cost; or
	 
	 	(iii)	 	a reduction of any amount due and payable under any Finance Document,

which is incurred or suffered by a Finance Party or any of its Affiliates to the extent that
it is attributable to that Finance Party having entered into its Commitment or funding or
performing its obligations under any Finance Document.

	 	14.2	 	Increased cost claims

	(a)	 	A Finance Party intending to make a claim pursuant to clause 14.1 (Increased costs) shall
notify the Agents of the event giving rise to the claim, following which the Agents shall
promptly notify the Company.

	(b)	 	Each Finance Party shall, as soon as practicable after a demand by the Agents, provide a
certificate confirming the amount of its Increased Costs.

	 	14.3	 	Exceptions

20

 

	(a)	 	Clause 14.1 (Increased costs) does not apply to the extent any Increased Cost is:

	 	(i)	 	attributable to a Tax Deduction required by law to be made by the Company;
	 
	 	(ii)	 	compensated for by clause 13.3 (Tax indemnity) (or would have been compensated for
under that clause but was not so compensated solely because any of the exclusions in
paragraph (b) of that clause applied);
	 
	 	(iii)	 	compensated for by the payment of the Mandatory Cost; or
	 
	 	(iv)	 	attributable to the wilful breach by the relevant Finance Party or its Affiliates of
any law or regulation.

	(b)	 	In this clause 14.3, a reference to a Tax Deduction has the same meaning given to the term in
clause 13.1 (Definitions).
	 
	15.	 	OTHER INDEMNITIES

	 	15.1	 	Currency indemnity

	(a)	 	The Company shall as an independent obligation, within three Business Days of demand,
indemnify each Finance Party against any cost, loss or liability which that Finance Party
incurs as a consequence of:

	 	(i)	 	that Finance Party receiving an amount in respect of the Company’s liability under any
of the Finance Documents; or
	 
	 	(ii)	 	that liability being converted into a claim, order, judgment or award,

in a currency (the new currency) other than sterling, including any cost, loss or liability
arising from any difference between exchange rates used to convert that liability to the new
currency and exchange rates available to the Finance Party when it receives an amount in
respect of that liability.

	(b)	 	Unless otherwise required by law, the Company waives any right it may have in any
jurisdiction to pay any amount under the Finance Documents in a currency or currency unit
other than sterling.

	 	15.2	 	Other indemnities

The Company shall, within three Business Days of demand, indemnify each Finance Party
against any cost, loss or liability incurred by that Finance Party as a result of:

	(a)	 	the occurrence of any Event of Default;
	 
	(b)	 	a failure by the Company to pay any amount due under a Finance Document on its due date,
including any cost, loss or liability arising as a result of clause 28 (Sharing among the
Finance Parties);
	 
	(c)	 	funding, or making arrangements to fund, its participation in the Loan requested by the
Company in the Utilisation Request but not made by reason of the operation of any one or more
of the

21

 

provisions of this Agreement (other than by reason of default or negligence by that Finance
Party alone); or

	(d)	 	the Loan or part thereof not being prepaid in accordance with a notice of prepayment given by
the Company.
	 
	 	 	The Company’s liability in each case includes any Break Costs and any loss or expense on
account of funds borrowed, contracted for or utilised to fund any amount payable under any
relevant Finance Document, any relevant amount repaid, or the Loan.

	 	15.3	 	Indemnity to the Agents

The Company shall promptly indemnify the Agents against any cost, loss or liability incurred
by the Agents (acting reasonably) as a result of:

	(a)	 	investigating any event which it reasonably believes is a Default; or
	 
	(b)	 	acting or relying on any notice, request or instruction which it reasonably believes to be
genuine, correct and appropriately authorised.

	16.	 	MITIGATION BY THE LENDERS

	 	16.1	 	Mitigation

	(a)	 	Each Finance Party shall, in consultation with the Company, take all reasonable steps to
mitigate any circumstances which arise and which would result in any amount becoming payable
under or pursuant to, or cancelled pursuant to, any of clause 8.1 (Illegality), clause 13 (Tax
gross-up and indemnities), clause 14 (Increased costs) or paragraph 3 of Schedule 4 (Mandatory
Cost Formulae) including transferring its rights and obligations under the Finance Documents
to another Affiliate or Facility Office.

	(b)	 	Paragraph (a) does not in any way limit the obligations of the Company under the Finance
Documents.

	 	16.2	 	Limitation of liability

	(a)	 	The Company shall indemnify each Finance Party for all costs and expenses reasonably incurred
by that Finance Party as a result of steps taken by it under clause 16.1 (Mitigation).

	(b)	 	A Finance Party is not obliged to take any steps under clause 16.1 (Mitigation) if, in the
opinion of that Finance Party (acting reasonably), to do so might be prejudicial to it.

	17.	 	COSTS AND EXPENSES

	 	17.1	 	Transaction expenses

The Company shall within three Business Days of demand pay the Agents the amount of all
costs and expenses (including legal fees) incurred by any of them in connection with the
negotiation, preparation, printing, execution and syndication of:

	(a)	 	this Agreement and any other documents referred to in this Agreement; and
	 
	(b)	 	any other Finance Documents executed after the date of this Agreement.

22

 

	 	17.2	 	Amendment costs

If the Company requests an amendment, waiver or consent, the Company shall, within three
Business Days of demand, reimburse the Agents for the amount of all costs and expenses
(including legal fees) incurred by the Agents in responding to, evaluating, negotiating or
complying with that request or requirement.

	 	17.3	 	Enforcement costs

The Company shall, within three Business Days of demand, pay to each Finance Party the
amount of all costs and expenses (including legal fees) incurred by that Finance Party in
connection with the enforcement of, or the preservation of any rights under, any Finance
Document.

	18.	 	REPRESENTATIONS

The Company makes the representations and warranties set out in this clause 18 to each
Finance Party on the date of this Agreement.

	 	18.1	 	Status

	(a)	 	It is a limited liability company, duly incorporated and validly existing under the law of
its jurisdiction of incorporation.
	 
	(b)	 	It and each of its Subsidiaries has the power to own its assets and carry on its business as
it is being conducted.

	 	18.2	 	Binding obligations

The obligations expressed to be assumed by it in each Finance Document are, subject to any
general principles of law limiting the enforceability its obligations which are specifically
referred to in any legal opinion delivered pursuant to clause 4 (Conditions of Utilisation),
legal, valid, binding and enforceable obligations.

	 	18.3	 	Non-conflict with other obligations

The entry into and performance by it of, and the transactions contemplated by, the Finance
Documents to which it is a party do not and will not conflict with:

	(a)	 	any law, regulation or order applicable to it;
	 
	(b)	 	its or any of its Subsidiaries’ constitutional documents; or
	 
	(c)	 	any agreement or instrument binding upon it or any of its Subsidiaries or any of its or any
of its Subsidiaries’ assets.

	 	18.4	 	Power and authority

It has the power to enter into, perform and deliver, and has taken all necessary action to
authorise its entry into, performance and delivery of, the Finance Documents to which it is
a party and the transactions contemplated by those Finance Documents.

23

 

	 	18.5	 	Validity and admissibility in evidence

All Authorisations required or desirable:

	(a)	 	to enable it lawfully to enter into, exercise its rights and comply with its obligations in
the Finance Documents to which it is a party; and
	 
	(b)	 	to make the Finance Documents to which it is a party admissible in evidence in its
jurisdiction of incorporation,
	 
	 	 	have been obtained or effected and are in full force and effect.

	 	18.6	 	No filing or stamp taxes

Under the law of its jurisdiction of incorporation it is not necessary that the Finance
Documents be filed, recorded or enrolled with any court or other authority in that
jurisdiction or that any stamp, registration or similar tax be paid on or in relation to the
Finance Documents or the transactions contemplated by the Finance Documents, except any
filing, recording or enrolling or any tax or fee payable in relation to the Finance
Documents which is referred to in any legal opinion delivered to the Agents in connection
therewith, and which will be made or paid promptly after the date the relevant Finance
Document is entered into.

	 	18.7	 	Compliance with laws

The Company is in compliance in all respects with all laws to which it may be subject, save
where failure to do so would not have a Material Adverse Effect.

	 	18.8	 	No default

	(a)	 	No Default is continuing.
	 
	(b)	 	No other event or circumstance is outstanding which constitutes a default under any other
agreement or instrument which is binding on it or any of its Subsidiaries or to which its (or
any of its Subsidiaries’) assets are subject which might have a Material Adverse Effect.

	 	18.9	 	No misleading information

	(a)	 	Any factual information provided by the Company was true and accurate in all material
respects as at the date it was provided or as at the date (if any) at which it is stated.
	 
	(b)	 	No information has been given or withheld and no event or circumstance has occurred that (in
any case) results in the information referred to in 19.10(a) above being untrue or misleading
in any respect.

	 	18.10	 	Financial statements

	(a)	 	Its audited financial statements of the TRM Group most recently delivered to the Agents:

	 	(i)	 	were prepared in accordance with GAAP consistently applied; and
	 
	 	(ii)	 	fairly present as at and in respect of the period ending on the date to which they were
drawn up, its financial condition and operations.

24

 

	(b)	 	There has been no material adverse change in its business or financial condition of the TRM
Group since the date of the most recent audited financial statements delivered under clause
19(1)(a) (Financial statements).

	 	18.11	 	Pari passu ranking

Its payment obligations under the Finance Documents rank at least pari passu with the claims
of all its other unsecured and unsubordinated creditors, except for obligations mandatorily
preferred by law applying to companies generally.

	 	18.12	 	No proceedings pending or threatened

No litigation, arbitration or administrative or regulatory proceedings or investigations
which, if adversely determined, might (by themselves or together with other such
proceedings) reasonably be expected to have a Material Adverse Effect or lead to the
occurrence of an Event of Default are current or (to the best of its knowledge and belief)
pending or threatened against the Company or any of its Subsidiaries.

	 	18.13	 	Taxes

The Company has complied in all material respects with all Tax laws in all jurisdictions in
which it is subject to Tax and has paid all Taxes due and payable by it or before material
penalties are incurred and no material claims are being asserted against it in respect of
Taxes except for assessments in relation to the ordinary course of its business or claims
contested in good faith and in respect of which adequate provision has been made and
disclosed in the latest Financial Statements or other information delivered to the Agents
under this Agreement, except to the extent any such non-compliance, non-payment or claim is
not reasonably likely to have a Material Adverse Effect.

	 	18.14	 	No Security

None of the assets of any member of the Company or any of its Subsidiaries is affected by
any Security, and none of them is a party to, nor is any of its assets bound by, any order,
agreement or instrument under which such company is, or in certain events may be, required
to create, assume or permit to arise any Security, other than any Security permitted under
clause 21.3 (Negative Pledge) provided that a debenture in favour of Bank of America will
remain registered with the Registrar of Companies for a maximum period of 30 days from the
date hereof while formalities are being processed to withdraw such registration

	 	18.15	 	Environmental Matters

The Company and each of its Subsidiaries:

	(a)	 	(i) has obtained all requisite environmental approvals required for the carrying on of its
business as currently conducted and (ii) has at all times complied in all respects with the
terms and conditions of such environmental approvals and (iii) has at all times complied in
all respects with all other applicable environmental law in each case, where failure to do so
would have a Material Adverse Effect.

	(b)	 	so far as it is aware has no environmental claim pending or threatened against it which is
reasonably likely to be decided against it and which, if determined adversely, would have a
Material Adverse Effect.

25

 

	(c)	 	has not, as far as it is aware, used, disposed of, generated, stored, transported, dumped,
released, deposited, buried or emitted at, on, from or under any premises (whether or not
owned, leased, occupied or controlled by it and including any offsite waste management or
disposal location utilised by it) any hazardous substance in circumstances where this would be
reasonably likely to result in a liability on it and where such liability would have a
Material Adverse Effect.

	 	18.16	 	Authorisations

All authorisations, approvals, licences, consents, filings, registrations, payment of duties
or taxes and notarisations required for the proper conduct of the business, trade and
ordinary activities of the Company and each of its Subsidiaries except to the extent that
failure to make, pay or obtain the same is not reasonably likely to have a Material Adverse
Effect, are in full force and effect.

	 	18.17	 	Ownership of Assets

It has good title to or valid leases or licences of or is otherwise entitled to use all
assets which are necessary to its business as conducted by it at the date of this Agreement
or which is conducted by it from time to time in the future.

	 	18.18	 	Insurance

It has insured all its buildings, plant, machinery, inventory and assets relating to its
activities with insurance companies or underwriters of repute to such extent and against
such risks as prudent companies engaged in business similar to it and in the same
jurisdiction would normally insure.

	 	18.19	 	No Immunity

	(a)	 	The execution by the Company of each Finance Document to which it is a party constitutes, and
its exercise of its rights and performance of the obligations of the Company under each
Finance Document will constitute, private and commercial acts done and performed for private
and commercial purposes.

	(b)	 	The Company will be entitled to claim immunity from suit, execution, attachment or legal
process in any proceedings taken in its jurisdiction of incorporation in relation to any
Finance Document.

	 	18.20	 	Licences

The Company and each of its Subsidiaries has all necessary Authorisations for carrying out
its business, other than any Authorisations the absence of which could not be considered to
have a Material Adverse Effect.

	 	18.21	 	Solvency

The Group is solvent on a consolidated basis.

	 	18.22	 	No indebtedness / financial indebtedness

Neither the Company nor any of its Subsidiaries has any Financial Indebtedness outstanding
other than as permitted by this Agreement.

26

 

	 	18.23	 	Collective Bargaining Agreements

No member of the Group is party to a collective bargaining agreement.

	 	18.24	 	Material Contracts

The Company has disclosed all Material Contracts to which it or any Subsidiary is party.

	 	18.25	 	Subsidiaries

The Company has no Subsidiaries other than TRM (123) Limited, TRM Germany and TRM Services
Limited. No Subsidiary carries on business activities or otherwise incur any credit. No
Subsidiary holds any assets that comprise more than 5% of the assets of the Group.

	 	18.26	 	Repetition

The Repeating Representations are deemed to be made by the Company by reference to the facts
and circumstances then existing on the first day of each Interest Period.

	19.	 	INFORMATION UNDERTAKINGS

The undertakings in this clause 19 remain in force from the date of this Agreement for so
long as any amount is outstanding under the Finance Documents or any Commitment is in force.

	 	19.1	 	Financial statements

The Company shall supply to the Agents in sufficient copies for all the Lenders:

	(a)	 	within the time limits therein set out all financial information concerning the TRM Group as
are required by Clause 7.01 of the US Credit Agreement as if the same were restated in this
Agreement notwithstanding the fact that the US Credit Agreement may have terminated; and

     (b) promptly such additional financial information as the Agents may from time to time request.

	 	19.2	 	Compliance Certificate

	(a)	 	The Company shall supply to the Agents, with each set of financial statements delivered
pursuant to clause 19.1 (Financial statements), a Compliance Certificate.

	(b)	 	Each Compliance Certificate shall be signed by the managing director or other senior
executive officer or the senior financial officer of the Company and, if required to be
delivered with the financial statements delivered pursuant to paragraph Error! Reference
source not found. of clause 19.1 (Financial statements), by the Company’s auditors.

	 	19.3	 	Information: miscellaneous

The Company shall supply to the Agents (in sufficient copies for all the Lenders, if the
Agents so request):

	(a)	 	all documents dispatched by the Company to its shareholders (or any class of them) or its
creditors generally at the same time as they are dispatched;

27

 

	(b)	 	promptly upon becoming aware of them, details of any litigation, arbitration or
administrative proceedings which are current, threatened or pending against any the any member
of the TRM Group, and which might, if adversely determined, have a Material Adverse Effect;
and

	(c)	 	promptly, such further information regarding the financial condition, business and operations
of the Company or any of its Subsidiaries as any Finance Party (through the Agents) may
reasonably request.

	 	19.4	 	Notification of Default

	(a)	 	The Company shall notify the Agents of any Default (and the steps, if any, being taken to
remedy it) promptly upon becoming aware of its occurrence.

	(b)	 	Promptly upon a request by the Agents, the Company shall supply to the Agents a certificate
signed by two of its directors or senior officers on its behalf certifying that no Default is
continuing (or if a Default is continuing, specifying the Default and the steps, if any, being
taken to remedy it).

	 	19.5	 	Use of websites

	(a)	 	The Company may satisfy its obligation under this Agreement to deliver any information in
relation to those Lenders (the Website Lenders) who accept this method of communication by
posting this information onto an electronic website designated by the Company and the Agents
(the Designated Website) if:

	 	(i)	 	the Agents expressly agree (after consultation with each of the Lenders) that they will
accept communication of the information by this method;
	 
	 	(ii)	 	both the Company and the Agents are aware of the address of and any relevant password
specifications for the Designated Website; and
	 
	 	(iii)	 	the information is in a format previously agreed between the Company and the Agents.

If any Lender (a Paper Form Lender) does not agree to the delivery of information
electronically then the Agents shall notify the Company accordingly and the Company shall
supply the information to the Agents (in sufficient copies for each Paper Form Lender) in
paper form. In any event the Company shall supply the Agents with at least one copy in
paper form of any information required to be provided by it.

	(b)	 	The Agents shall supply each Website Lender with the address of and any relevant password
specifications for the Designated Website following designation of that website by the Company
and the Agents.

	(c)	 	The Company shall promptly upon becoming aware of its occurrence notify the Agents if:

	 	(i)	 	the Designated Website cannot be accessed due to technical failure;
	 
	 	(ii)	 	the password specifications for the Designated Website change;
	 
	 	(iii)	 	any new information which is required to be provided under this Agreement is posted
onto the Designated Website;

28

 

	 	(iv)	 	any existing information which has been provided under this Agreement and posted onto
the Designated Website is amended; or
	 
	 	(v)	 	the Company becomes aware that the Designated Website or any information posted onto
the Designated Website is or has been infected by any electronic virus or similar software.

If the Company notifies the Agents under paragraph (c)(i) or paragraph (c)(v), all
information to be provided by the Company under this Agreement after the date of that notice
shall be supplied in paper form.

	(d)	 	Any Website Lender may request, through the Agents, one paper copy of any information
required to be provided under this Agreement which is posted onto the Designated Website. The
Company shall comply with any such request within ten Business Days.

	 	19.6	 	Know your customer checks

	(a)	 	If:

	 	(i)	 	the introduction of or any change in (or in the interpretation, administration or
application of) any law or regulation made after the date of this Agreement;
	 
	 	(ii)	 	any change in the status of the Company after the date of this Agreement;
	 
	 	(iii)	 	any change in the composition of the shareholders of the Company; or
	 
	 	(iv)	 	a proposed assignment or transfer by a Lender of any of its rights and obligations
under this Agreement to a party that is not a Lender prior to such assignment or transfer,

obliges the Agents or any Lender (or, in the case of paragraph (iv) above, any prospective
new Lender) to comply with know your customer or similar identification procedures in
circumstances where the necessary information is not already available to it, the Company
shall promptly upon the request of the Agents or any Lender supply, or procure the supply
of, such documentation and other evidence as is reasonably requested by the Agents (for
themselves or on behalf of any Lender) or any Lender (for itself or, in the case of the
event described in paragraph (iv) above, on behalf of any prospective new Lender) in order
for the Agents, such Lender or, in the case of the event described in paragraph (iv) above,
any prospective new Lender to carry out and be satisfied it has complied with all necessary
know your customer or other similar checks under all applicable laws and regulations
pursuant to the transactions contemplated in the Finance Documents.

	(b)	 	Each Lender shall promptly upon the request of the Agents supply, or procure the supply of,
such documentation and other evidence as is reasonably requested by the Agents (for
themselves) in order for the Agents to carry out and be satisfied it has complied with all
necessary know your customer or other similar checks under all applicable laws and regulations
pursuant to the transactions contemplated in the Finance Documents.

	20.	 	FINANCIAL COVENANTS

The undertakings in this clause 20 remain in force from the date of this Agreement for so
long as any amount is outstanding under the Finance Documents or any Commitment is in force.

29

 

No member of the TRM Group shall:

(a) Minimum EBITDA. permit their Consolidated EBITDA for any twelve (12) consecutive month
period ending on the last day of each calendar quarter (or, if any portion of such period
precedes the date hereof, for the period commencing on the date hereof and ending on such
date, expressed on an annualized basis in accordance with the methodology set forth in the
Compliance Certificate) to be less than $22,000,000.

(b) Consolidated First Lien Leverage Ratio. permit the Consolidated First Lien Leverage
Ratio as of the end of any fiscal quarter of TRM for the twelve (12) consecutive month
period ending on such date set forth below to be greater than the ratio corresponding to
such fiscal quarter (using annualized EBITDA amounts in accordance with clause (a) above, to
the extent applicable):

	 	 	 	 	 	 	 	 	 
	Fiscal	 	 	 	 	 	 	 	 
	Year	 	March 31	 	June 30	 	September 30	 	December 31
	2006
	 	n/a	 	2.75	 	2.25	 	2.25
	2007
	 	2.20	 	2.10	 	2.00	 	1.90
	2008
	 	1.80	 	1.70	 	1.60	 	1.50
	2009
	 	1.35	 	1.35	 	1.35	 	1.35
	thereafter
	 	1.25	 	 	 	 	 	 

(c) Consolidated Leverage Ratio. permit the Consolidated Leverage Ratio as of the end of any
fiscal quarter of TRM for the twelve (12) consecutive month period ending on such date set
forth below to be greater than the ratio corresponding to such fiscal quarter (using
annualized EBITDA amounts in accordance with clause (a) above, to the extent applicable):

	 	 	 	 	 	 	 	 	 
	Fiscal	 	 	 	 	 	 	 	 
	Year	 	March 31	 	June 30	 	September 30	 	December 31
	2006
	 	n/a	 	4.85	 	4.35	 	4.35
	2007
	 	4.25	 	4.05	 	3.90	 	3.70
	2008
	 	3.50	 	3.30	 	3.10	 	3.00
	2009
	 	2.75	 	2.75	 	2.75	 	2.75
	thereafter
	 	2.50	 	 	 	 	 	 

(d) Consolidated Fixed Charge Coverage Ratio. permit the Consolidated Fixed Charge Coverage
Ratio for the consecutive twelve (12) month period ending as of the last day of each fiscal
quarter of TRM (or, if any portion of such period precedes the date hereof, for the period
commencing on the date hereof and ending on such date , expressed on an annualized basis in
accordance with the methodology set forth in the Compliance Certificate) set forth below to
be less than the ratio corresponding to such fiscal quarter:

	 	 	 	 	 	 	 	 	 
	Fiscal	 	 	 	 	 	 	 	 
	Year	 	March 31	 	June 30	 	September 30	 	December 31
	2006
	 	n/a	 	1.25	 	1.25	 	1.25
	2007
	 	1.25	 	1.25	 	1.25	 	1.25
	2008
	 	1.30	 	1.30	 	1.30	 	1.30
	thereafter
	 	1.40	 	 	 	 	 	 

30

 

(e) permit Consolidated Capital Expenditures to exceed $7,000,000 for the fiscal year ending
on 31st December in any year.

(f) permit Merchant Owned ATM Technology Upgrades to exceed $4,000,000 for the fiscal year
ending on 31st December 2006 and $0 in any subsequent year.

Defined terms used in this Clause are defined in the US Credit Agreement as if the same were
restated in this Agreement and notwithstanding the fact that the US Credit Agreement may have
terminated.

	21.	 	POSITIVE UNDERTAKINGS

The undertakings in this clause 21 remain in force from the date of this Agreement for so
long as any amount is outstanding under the Finance Documents.

The Company agrees to be bound by the covenants set out in this clause relating to it and to
procure that its Subsidiaries shall be so bound as if in each case the covenant was made by
such Subsidiary.

	 	21.1	 	Authorisations

The Company shall promptly:

	(a)	 	obtain, comply with and do all that is necessary to maintain in full force and effect; and
	 
	(b)	 	supply certified copies to the Agents of,

any Authorisation required under any law or regulation to enable it to perform its
obligations under, and to ensure the legality, validity or enforceability of, or
admissibility in evidence in its jurisdiction of incorporation of, any Finance Document.

	 	21.2	 	Notices

The Company shall promptly notify the Agents of any Event of Default or any matter which
might reasonably be expected to have a Material Adverse Effect.

	 	21.3	 	Compliance with laws

The Company shall comply in all respects with all laws to which it may be subject, save
where failure to do so would not have a Material Adverse Effect.

	 	21.4	 	Records

The Company shall maintain proper books and records in conformity with GAAP consistently
applied and in conformity with statutory requirements.

	 	21.5	 	Arm’s length terms

Except
with the prior written consent of the Agents, the Company shall carry out all material
transactions with any person (including for the avoidance of doubt any member of the TRM
Group) on market terms and at arm’s length.

31

 

	 	21.6	 	Preservation of Existence

The Company shall take all necessary actions to maintain its existence and to preserve or
renew all material rights except to the extent that failure to do so would not have a
Material Adverse Effect.

	 	21.7	 	Inspection rights

The Company shall permit representatives of the Agents upon two Business Days’ notice at
the expense of the Company to enter the premises of the Company, to examine the statutory,
finance and operating records of the Company and to discuss its affairs with officers and
auditors of the Company, provided that (i) if no Event of Default shall have occurred, the
Company shall not be required to bear the expenses of more than 2 inspections in any
calendar year and there shall be no more than three such inspections during any calendar
year unless the Lenders shall in good faith believe that there has been a material adverse
change in the business or assets of any member of the TRM Group and (ii) if an Event of
Default shall have occurred and be continuing, no advance notice of any such inspection
shall be required.

	 	21.8	 	Insurance

The Company shall insure and keep insured all its buildings, plant and machinery and assets
and maintain insurance relating to its activities with insurance companies or underwriters
of repute to such extent and against such risks as prudent companies engaged in business
similar to that of the Company and in the same jurisdiction would normally insure.

	 	21.9	 	Intellectual Property Rights

The Company shall maintain and preserve all necessary licenses, permits, trade names,
patents and other intellectual property rights where failure to do so would have a Material
Adverse Effect.

	 	21.10	 	Environmental Compliance

	 	(a)	 	The Company shall procure that the Company and each of its Subsidiaries will
comply with all applicable environmental Laws where, in respect of such environmental
laws, non-compliance is reasonably likely to have a Material Adverse Effect.
	 
	 	(b)	 	The Company shall procure that the Company and each of its Subsidiaries will
comply with the terms of all environmental approvals necessary for the ownership and
operation of its facilities and businesses as owned and operated from time to time by
it where in any such case non-compliance with or the lack of any such environmental
approval is reasonably likely to have a Material Adverse Effect.

	 	21.11	 	Taxes

The Company shall pay and discharge all Taxes and governmental charges payable by or
assessed upon it prior to the date on which the same become overdue or before any material
penalty is incurred unless, and only to the extent that, (i) such Taxes and charges shall be
contested in good faith by appropriate proceedings, pending determination of which payment
may lawfully be withheld, and there shall be set aside adequate reserves with respect to any
such Taxes or charges so contested in accordance with GAAP, or (ii) failure to pay such Tax
or charge is reasonably likely not to have a Material Adverse Effect.

32

 

	 	21.12	 	Pair Passu Ranking

The Company shall ensure that its obligations under the Finance Documents to which it is a
party do and will rank at least pari passu with all its other present and future unsecured
and unsubordinated obligations other than indebtedness preferred solely by operation of law.

	 	21.13	 	Further Assurance

The Company shall procure that each of its Subsidiaries will as a condition of this
Agreement at any time upon demand from the Agents on behalf of the Lenders:

	(a)	 	enter into a guarantee of the obligations of the Company under this Agreement and
	 
	(b)	 	grant Security over any its assets to the Lenders in support of such guarantee.

Such guarantee and Security shall be granted at the expense of the Company and shall be in
such form as the Lenders shall require.

	 	21.14	 	Subsidiaries

The Company shall ensure that the Subsidiaries other than TRM Germany are dormant and shall
not contribute any funds or assets to any of them other than to TRM Germany, save for the
payment of statutory and auditing fees.

	22.	 	NEGATIVE UNDERTAKINGS

	 	22.1	 	Negative pledge

	(a)	 	The Company shall not create or permit to subsist any Security over any of its assets.
	 
	(b)	 	Neither the Company nor any of its Subsidiaries shall:

	 	(i)	 	sell, transfer or otherwise dispose of any of its assets on terms whereby they are or
may be leased to or re-acquired by the Company;
	 
	 	(ii)	 	sell, transfer or otherwise dispose of any of its receivables on recourse terms;
	 
	 	(iii)	 	enter into any arrangement under which money or the benefit of a bank or other account
may be applied, set-off or made subject to a combination of accounts; or
	 
	 	(iv)	 	enter into any other preferential arrangement having a similar effect,

in circumstances where the arrangement or transaction is entered into primarily as a method
of raising Financial Indebtedness or of financing the acquisition of an asset.

	(c)	 	Paragraphs (a) and (b) do not apply to:

	 	(i)	 	any lien arising by operation of law and in the ordinary course of trading;
	 
	 	(ii)	 	any Security entered into pursuant to any Finance Document;

33

 

	 	(iii)	 	any Security for which the Company has the prior written consent of the Lenders

	 	22.2	 	Indebtedness

No Financial Indebtedness shall be incurred by the Company undertaking other than:

	(a)	 	any Financial Indebtedness described in Schedule 8 (Existing Indebtedness);
	 
	(b)	 	any other Financial Indebtedness, provided such Financial Indebtedness does not exceed
£250,000;
	 
	(c)	 	Financial Indebtedness under this Agreement; and
	 
	(d)	 	any Financial Indebtedness approved by the Lenders.

	 	22.3	 	Disposals

	(a)	 	The Company may not, either in a single transaction or a series of transactions (whether
related or not) dispose of any asset.
	 
	(b)	 	Paragraph 22.3 (a) does not apply to any disposal:

	 	(i)	 	of stock in the ordinary course of trading of the disposing entity;
	 
	 	(ii)	 	of assets in exchange for other assets comparable or superior as to type, value and
quality;

	 	22.4	 	Merger

The Company shall not enter into any amalgamation, demerger, merger or corporate
reconstruction.

	 	22.5	 	Change of business

The Company shall procure that no substantial change is made to the general nature of the
business of the Company from that carried on at the date of this Agreement.

	 	22.6	 	Acquisitions

The Company shall not acquire any assets other than:

	(a)	 	in the ordinary course of its trading activities;
	 
	(b)	 	the exchange of assets for other assets of a similar nature and value; or
	 
	(c)	 	any assets acquired with the approval of the Lenders.

	 	22.7	 	Agreements outside the ordinary course of business

The Company shall not enter into any agreements outside the ordinary course of business
without the prior consent of the Lenders.

34

 

	 	22.8	 	Loans and Guarantees

The Company shall not provide loans or other credit, or grant or permit to subsist any
guarantee of indebtedness other than:

	(a)	 	trade credit on normal business terms;
	 
	(b)	 	loans or guarantees for the benefit , directly or indirectly, of employees or directors in
accordance with normal conditions of employment or remuneration packages; or
	 
	(c)	 	warranties and indemnities given in respect of the disposal of businesses or assets, where
such warranties and indemnities relate to the historical performance of the business or assets
being disposed of and do not in any way relate to the future performance of the business.

	 	22.9	 	Restriction on payments to TRM Group

The Company shall make no payments to members of the TRM Group, other than as permitted by
the Lenders.

	 	22.10	 	Restriction on Dividends, Distributions and Payments

The Company shall not distribute by way of distribution (whether by way of dividends, loans,
warranties, indemnities or otherwise) any amount.

	 	22.11	 	Restriction on Investment and Capital Expenditure

The Company shall not make any Investment or capital expenditure other than:

	(a)	 	in the ordinary course of trading;
	 
	(b)	 	in exchange for assets comparable or superior as to type, value and quality;
	 
	(c)	 	such that involves no substantial change to the general nature of the business: or
	 
	(d)	 	any investment or capital expenditure approved by the Lenders,
	 
	 	 	provided in all cases that no Event of Default has occurred or is likely to occur.

	23.	 	EVENTS OF DEFAULT

Each of the events or circumstances set out in clause 22 is an Event of Default.

	 	23.1	 	Non-payment

The Company does not pay on the due date any amount payable pursuant to a Finance Document
at the place and in the currency in which it is expressed to be payable unless:

	(a)	 	its failure to pay is a payment of interest caused by administrative or technical error; and
	 
	(b)	 	payment is made within 2 Business Days of its due date.

35

 

	 	23.2	 	Other obligations

	(a)	 	The Company does not comply with any provision of the Finance Documents (other than those
referred to in clause 23.1 (Non-payment).
	 
	(b)	 	No Event of Default under paragraph (a) above will occur if the failure to comply is capable
of remedy and is remedied within 15 Business Days of the earlier of the Agents giving notice
to the Company or the Company becoming aware of the failure to comply.

	 	23.3	 	Misrepresentation

Any representation or statement made or deemed to be made by the Company in the Finance
Documents or any other document delivered by or on behalf of the Company under or in
connection with any Finance Document is or proves to have been incorrect or misleading in
any material respect when made or deemed to be made.

	 	23.4	 	Cross default

	(a)	 	The occurrence of an Event of Default under the US Credit Agreement; or
	 
	(b)	 	Any member of the TRM Group fails to comply with the provisions set out in Clause 20 of this
Agreement.

	 	23.5	 	Insolvency

Any of the following occurs in respect of the Company or any of its Subsidiaries:

	(a)	 	it is, or is deemed for the purposes of any law to be, unable to pay its debts as they fall
due or insolvent;
	 
	(b)	 	it admits its inability to pay its debts as they fall due;
	 
	(c)	 	the value of its assets is less than its liabilities (taking into account contingent and
prospective liabilities but excluding, for the avoidance of doubt, liabilities under
documentary letters of credit issued in relation to the purchase of goods in the ordinary
course of trading);
	 
	(d)	 	it suspends making payments on any of its debts or announces an intention to do so;
	 
	(e)	 	by reason of actual or anticipated financial difficulties, it commences negotiations with one
or more of its creditors with a view to rescheduling any of its indebtedness; or
	 
	(f)	 	a moratorium is declared in respect of any of its indebtedness.

	 	23.6	 	Insolvency proceedings

	(a)	 	Any corporate action, legal proceedings or other procedure or step is taken in relation to:

	 	(i)	 	the suspension of payments, a moratorium of any indebtedness, winding-up, dissolution,
administration or reorganisation (by way of voluntary arrangement, scheme of arrangement or
otherwise) of the Company or any of its Subsidiaries;

36

 

	 	(ii)	 	a composition, a compromise, assignment or arrangement with any creditor of the Company
or any of its Subsidiaries;
	 
	 	(iii)	 	the appointment of a liquidator, trustee in bankruptcy, judicial custodian, compulsory
manager, receiver, administrative receiver, administrator or similar officer (in each case,
whether out of court or otherwise) in respect of the Company or any of its Subsidiaries or
any of their respective assets;
	 
	 	(iv)	 	the enforcement of any Security over any assets of the Company or any of its
Subsidiaries,

or any analogous procedure or step is taken in any jurisdiction.

	(b)	 	Paragraph (a) does not apply to a transaction agreed by the Lenders.

	 	23.7	 	Creditors’ process

Any expropriation, attachment, sequestration, distress or execution or any analogous event
affects any asset or assets of the Company or any of its Subsidiaries having an aggregate
value exceeding £500,000 and is not discharged within 30 days.

	 	23.8	 	Cessation of business

Any of the following occurs in respect of the Company or any of its Subsidiaries:

	(a)	 	it ceases, or threatens to cease, to carry on all or substantially all of its business
except:

	 	(i)	 	as part of a transaction described in clause 23.6(b)
(Insolvency Proceedings); or
	 
	 	(ii)	 	as a result of any disposal allowed under this Agreement; or

	(b)	 	any governmental authority expropriates, or threatens to expropriate all or part of its
assets to an extent which is reasonably likely to have a Material Adverse Effect.

	 	23.9	 	Ownership of the Company

	(a)	 	The Company ceases to be a wholly-owned Subsidiary of TRM.
	 
	(b)	 	The Company disposes of any member of the Group.

	 	23.10	 	Unlawfulness

	(a)	 	It is or becomes unlawful for the Company to perform any of its obligations under the Finance
Documents.
	 
	(b)	 	Any Finance Document is not effective or is alleged by the Company to be ineffective for any
reason.

	 	23.11	 	Repudiation

The Company repudiates a Finance Document or evidences an intention to repudiate a Finance
Document.

37

 

	 	23.12	 	Material adverse change

Any event or series of events whether related or not occurs which the Lenders determine
could reasonably be expected to have a Material Adverse Effect.

Acceleration

On and at any time after the occurrence of an Event of Default the Agents may, and shall if
so directed by the Lenders, by notice to the Company:

	(a)	 	cancel the Total Commitments whereupon they shall immediately be cancelled; and/or
	 
	(b)	 	declare that all or part of the Loan, together with accrued interest, and all other amounts
accrued or outstanding under the Finance Documents be immediately due and payable, whereupon
they shall become immediately due and payable; and/or
	 
	(c)	 	declare that all or part of the Loan be payable on demand, whereupon they shall immediately
become payable on demand by the Agents on the instructions of the Lenders.
	 
	24.	 	CHANGES TO THE LENDERS

	 	24.1	 	Assignments and transfers by the Lenders

Subject to this clause 24, a Lender (the Existing Lender) may, but subject to the following
provisions of this sub-condition:

	(a)	 	assign any of its rights; or
	 
	(b)	 	transfer by novation any of its rights and obligations,

to another bank or financial institution or to a trust, fund or other entity which is
regularly engaged in or established for the purpose of making, purchasing or investing in
loans, securities or other financial assets (the New Lender).

	 	24.2	 	Conditions of assignment or transfer

	(a)	 	No consent of the Company is required for an assignment or transfer.
	 
	(b)	 	An assignment will only be effective on:

	 	(i)	 	receipt by the Agents of written confirmation from the New Lender (in form and
substance satisfactory to the Agents) that the New Lender will assume the same obligations
to the other Finance Parties as it would have been under if it was an Original Lender; and
	 
	 	(ii)	 	performance by the Agents of all necessary know your customer or other similar checks
under all applicable laws and regulations in relation to such assignment to a New Lender,
the completion of which the Agents shall promptly notify to the Existing Lender and the New
Lender.

	(c)	 	A transfer will only be effective if the procedure set out in clause 24.5 (Procedure for
transfer) is complied with.

38

 

	(d)	 	If:

	 	(i)	 	a Lender assigns or transfers any of its rights or obligations under the Finance
Documents or changes its Facility Office; and
	 
	 	(ii)	 	as a result of circumstances existing at the date the assignment, transfer or change
occurs, the Company would be obliged to make a payment to the New Lender or Lender acting
through its new Facility Office under clause 13 (Tax gross-up and indemnities) or clause 14
(Increased Costs),

then the New Lender or Lender acting through its new Facility Office is only entitled to
receive payment under those clauses to the same extent as the Existing Lender or Lender
acting through its previous Facility Office would have been if the assignment, transfer or
change had not occurred.

	 	24.3	 	Assignment or transfer fee

The New Lender shall, on the date upon which an assignment or transfer takes effect, pay to
the Agents (for their own account) a fee of £1,500.

	 	24.4	 	Limitation of responsibility of Existing Lenders

	(a)	 	Unless expressly agreed to the contrary, an Existing Lender makes no representation or
warranty and assumes no responsibility to a New Lender for:

	 	(i)	 	the legality, validity, effectiveness, adequacy or enforceability of the Finance
Documents or any other documents;
	 
	 	(ii)	 	the financial condition of the Company;
	 
	 	(iii)	 	the performance and observance by the Company of its obligations under the Finance
Documents or any other documents; or
	 
	 	(iv)	 	the accuracy of any statements (whether written or oral) made in or in connection with
any Finance Document or any other document,

and any representations or warranties implied by law are excluded.

	(b)	 	Each New Lender confirms to the Existing Lender and the other Finance Parties that it:

	 	(i)	 	has made (and shall continue to make) its own independent investigation and assessment
of the financial condition and affairs of the Company and its related entities in
connection with its participation in this Agreement and has not relied exclusively on any
information provided to it by the Existing Lender in connection with any Finance Document;
and
	 
	 	(ii)	 	will continue to make its own independent appraisal of the creditworthiness of the
Company and its related entities whilst any amount is or may be outstanding under the
Finance Documents or any Commitment is in force.

	(c)	 	Nothing in any Finance Document obliges an Existing Lender to:

39

 

	 	(i)	 	accept a re-transfer from a New Lender of any of the rights and obligations assigned or
transferred under this clause 24; or
	 
	 	(ii)	 	support any losses directly or indirectly incurred by the New Lender by reason of the
non-performance by the Company of its obligations under the Finance Documents or otherwise.

	 	24.5	 	Procedure for transfer

	(a)	 	Subject to the conditions set out in clause 24.2 (Conditions of assignment or transfer) a
transfer will be effected on the Transfer Date in accordance with paragraph (d) if:

	 	(i)	 	the Existing Lender and the New Lender deliver to the Agents a duly completed Transfer
Certificate; and
	 
	 	(ii)	 	the Agents execute it.

	(b)	 	The Agents shall, subject to paragraph (c) below, as soon as reasonably practicable after
receipt by them of a duly completed Transfer Certificate appearing on its face to comply with
the terms of this Agreement and delivered in accordance with the terms of this Agreement,
execute that Transfer Certificate. Each Party (other than the Existing Lender and the New
Lender) irrevocably authorises the Agents to execute any duly completed Transfer Certificate
on its behalf.
	 
	(c)	 	The Agents shall only be obliged to execute a Transfer Certificate delivered to them by the
Existing Lender and the New Lender once it is satisfied it has complied with all necessary
know your customer or other similar checks under all applicable laws and regulations in
relation to the transfer to such New Lender.
	 
	(d)	 	On the Transfer Date:

	 	(i)	 	to the extent that in the Transfer Certificate the Existing Lender seeks to transfer by
novation its rights and obligations under the Finance Documents the Company and the
Existing Lender shall be released from further obligations towards one another under the
Finance Documents and their respective rights against one another under the Finance
Documents shall be cancelled (being the Discharged Rights and Obligations);
	 
	 	(ii)	 	the Company and the New Lender shall assume obligations towards one another and/or
acquire rights against one another which differ from the Discharged Rights and Obligations
only insofar as the Company and the New Lender have assumed and/or acquired the same in
place of the Company and the Existing Lender;
	 
	 	(iii)	 	the Agents, the New Lender and other Lenders shall acquire the same rights and assume
the same obligations between themselves as they would have acquired and assumed had the New
Lender been an Original Lender with the rights and/or obligations acquired or assumed by it
as a result of the transfer and to that extent the Agents and the Existing Lender shall
each be released from further obligations to each other under the Finance Documents; and
	 
	 	(iv)	 	the New Lender shall become a Party as a Lender.

	 	24.6	 	Copy of Transfer Certificate to Company

40

 

The Agents shall, as soon as reasonably practicable after they have executed a Transfer
Certificate, send to the Company a copy of that Transfer Certificate.

	 	24.7	 	Disclosure of information

	(a)	 	Each Finance Party must keep confidential any information supplied to it by or on behalf of
the Company in connection with the Finance Documents. However, a Finance Party is entitled to
disclose information:

	 	(i)	 	which is publicly available, other than as a result of a breach by that Finance Party
of this clause;
	 
	 	(ii)	 	in connection with any legal or arbitration proceedings;
	 
	 	(iii)	 	if required to do so under any law or regulation;
	 
	 	(iv)	 	to a governmental, banking, taxation or other regulatory authority;
	 
	 	(v)	 	to its professional advisers;
	 
	 	(vi)	 	to the extent allowed under paragraph (b); or
	 
	 	(vii)	 	with the agreement of the Company.

	(b)	 	A Finance Party may disclose to an Affiliate, or any person with whom it may enter, or has
entered into, any kind of transfer, participation or other agreement in relation to this
Agreement (a participant):

	 	(i)	 	a copy of any Finance Document; and
	 
	 	(ii)	 	any information which that Finance Party has acquired under or in connection with any
Finance Document.

However, before a participant may receive any confidential information about the Company, it
must agree with the relevant Finance Party to keep that information confidential on the
terms of paragraph (a) and the participant must have entered into a Confidentiality
Undertaking.

	(c)	 	This clause supersedes any previous confidentiality undertaking given by a Finance Party in
connection with this Agreement prior to it becoming a Party.
	 
	25.	 	ASSIGNMENT BY COMPANY

	 	25.1	 	Assignments and transfer by the Company

The Company may not assign any of its rights or transfer any of its rights or obligations
under the Finance Documents.

41

 

	26.	 	ROLE OF THE AGENTS

	 	26.1	 	Appointment of the Agents

	(a)	 	Each other Finance Party appoints the Agents to act as its agent under and in connection with
the Finance Documents.
	 
	(b)	 	Each other Finance Party authorises the Agents to exercise the rights, powers, authorities
and discretions specifically given to the Agents under or in connection with the Finance
Documents together with any other incidental rights, powers, authorities and discretions.

	 	26.2	 	Duties of the Agents

	(a)	 	The Agents shall promptly forward to a Party the original or a copy of any document which is
delivered to the Agents for that Party by any other Party.
	 
	(b)	 	Except where a Finance Document specifically provides otherwise, the Agents are not obliged
to review or check the adequacy, accuracy or completeness of any document it forwards to
another Party.
	 
	(c)	 	If either of the Agents receives notice from a Party referring to this Agreement, describing
a Default and stating that the circumstance described is a Default, it shall promptly notify
the Finance Parties.
	 
	(d)	 	If the Agents are aware of the non-payment of any principal, interest, commitment fee or
other fee payable to a Finance Party (other than the Agents) under this Agreement it shall
promptly notify the other Finance Parties.
	 
	(e)	 	The Agents’ duties under the Finance Documents are solely mechanical and administrative in
nature.

	 	26.3	 	No fiduciary duties

	(a)	 	Nothing in this Agreement constitutes the Agents as a trustee or fiduciary of any other
person.
	 
	(b)	 	The Agents shall not be bound to account to any Lender for any sum or the profit element of
any sum received by it for its own account.

	 	26.4	 	Business with the TRM Group

	(a)	 	The Agents may accept deposits from, lend money to and generally engage in any kind of
banking or other business with any member of the TRM Group (including acting as agent or
trustee for any other financing and acquiring or disposing of any kind of security of any
member of the TRM Group).
	 
	(b)	 	If it is also a Lender, each of the Agents has the same rights and powers under this
Agreement as any other Lender and may exercise those rights as though it were not also the
Agents.

	 	26.5	 	Rights and discretions of the Agents

	(a)	 	The Agents may rely on:

42

 

	 	(i)	 	any representation, notice or document believed by it to be genuine, correct and
appropriately authorised; and
	 
	 	(ii)	 	any statement made by a director, authorised signatory or employee of any person
regarding any matters which may reasonably be assumed to be within his knowledge or within
his power to verify.

	(b)	 	The Agents may assume (unless it has received notice to the contrary in its capacity as agent
for the Lenders) that:

	 	(i)	 	no Default has occurred (unless it has actual knowledge of a Default arising under
clause 23.1 (Non-payment));
	 
	 	(ii)	 	any right, power, authority or discretion vested in any Party or the Lenders has not
been exercised; and
	 
	 	(iii)	 	any notice or request made by the Company (other than a Utilisation Request) is made
on behalf of and with the consent and knowledge of the Company.

	(c)	 	The Agents may engage, pay for and rely on the advice or services of any lawyers,
accountants, surveyors or other experts.
	 
	(d)	 	The Agents may act in relation to the Finance Documents through their personnel and agents.
	 
	(e)	 	The Agents may disclose to any other Party any information they reasonably believe they have
received as agent under this Agreement.
	 
	(f)	 	Notwithstanding any other provision of any Finance Document to the contrary, neither of the
Agents is obliged to do or omit to do anything if it would or might in its reasonable opinion
constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of
confidentiality.

	 	26.6	 	Lenders’ instructions

	(a)	 	Unless a contrary indication appears in a Finance Document, the Agents shall:

	 	(i)	 	exercise any right, power, authority or discretion vested in it as Agents in accordance
with any instructions given to it by the Lenders (or, if so instructed by the Lenders,
refrain from exercising any right, power, authority or discretion vested in it as Agents);
and
	 
	 	(ii)	 	not be liable for any act (or omission) if it acts (or refrains from taking any action)
in accordance with an instruction of the Lenders.

	(b)	 	Unless a contrary indication appears in a Finance Document, any instructions given by the
Lenders will be binding on all the Finance Parties.
	 
	(c)	 	The Agents may refrain from acting in accordance with the instructions of the Lenders (or, if
appropriate, the Lenders) until it has received such security as it may require for any cost,
loss or liability (together with any associated VAT) which it may incur in complying with the
instructions.

43

 

	(d)	 	In the absence of instructions from the Lenders, (or, if appropriate, the Lenders) the Agents
may act (or refrain from taking action) as they consider to be in the best interest of the
Lenders.
	 
	(e)	 	The Agents are not authorised to act on behalf of a Lender (without first obtaining that
Lender’s consent) in any legal or arbitration proceedings relating to any Finance Document.

	 	26.7	 	Responsibility for documentation

Neither of the Agents:

	(a)	 	is responsible for the adequacy, accuracy and/or completeness of any information (whether
oral or written) supplied by the Agents, the Company or any other person given in or in
connection with any Finance Document; or
	 
	(b)	 	is responsible for the legality, validity, effectiveness, adequacy or enforceability of any
Finance Document or any other agreement, arrangement or document entered into, made or
executed in anticipation of or in connection with any Finance Document.

	 	26.8	 	Exclusion of liability

	(a)	 	Without limiting paragraph (b) below, the Agents will not be liable (including, without
limitation, for negligence or any other category of liability whatsoever) for any action taken
by them under or in connection with any Finance Document, unless directly caused by its gross
negligence or wilful misconduct.
	 
	(b)	 	No Party (other than the Agents) may take any proceedings against any officer, employee or
agent of the Agents in respect of any claim it might have against the Agents or in respect of
any act or omission of any kind by that officer, employee or agent in relation to any Finance
Document and any officer, employee or agent of the Agents may rely on this clause subject to
clause 1.3 (Third Party Rights) and the provisions of the Third Parties Act.
	 
	(c)	 	The Agents will not be liable for any delay (or any related consequences) in crediting an
account with an amount required under the Finance Documents to be paid by the Agents if the
Agents have taken all necessary steps as soon as reasonably practicable to comply with the
regulations or operating procedures of any recognised clearing or settlement system used by
the Agents for that purpose.
	 
	(d)	 	Nothing in this Agreement shall oblige the Agents to carry out any know your customer or
other checks in relation to any person on behalf of any Lender and each Lender confirms to the
Agents that it is solely responsible for any such checks it is required to carry out and that
it may not rely on any statement in relation to such checks made by the Agents.

	 	26.9	 	Lenders’ indemnity to the Agents

Each Lender shall (in proportion to its share of the Total Commitments or, if the Total
Commitments are then zero, to its share of the Total Commitments immediately prior to their
reduction to zero) indemnify the Agents, within three Business Days of demand, against any
cost, loss or liability incurred by the Agents (otherwise than by reason of the Agents’
gross negligence or wilful misconduct) in acting as Agents under the Finance Documents
(unless the Agents have been reimbursed by the Company pursuant to a Finance Document).

44

 

	 	26.10	 	Resignation of the Agents

	(a)	 	The Agents may resign and appoint Wells Fargo Foothill, Inc. one of its Affiliates as
successor by giving notice to the other Finance Parties and the Company.
	 
	(b)	 	Alternatively the Agents may resign by giving notice to the other Finance Parties and the
Company, in which case the Lenders (after consultation with the Company) may appoint successor
Agents.
	 
	(c)	 	If the Lenders have not appointed successor Agents in accordance with paragraph (b) within 30
days after notice of resignation was given, the Agents (after consultation with the Company)
may appoint successor Agents (acting through an office in the United Kingdom).
	 
	(d)	 	The retiring Agents shall, at their own cost, make available to the successor Agents such
documents and records and provide such assistance as the successor Agents may reasonably
request for the purposes of performing their functions as Agents under the Finance Documents.
	 
	(e)	 	The Agents’ resignation notice shall only take effect upon the appointment of a successor.
	 
	(f)	 	Upon the appointment of a successor, the retiring Agents shall be discharged from any further
obligation in respect of the Finance Documents but shall remain entitled to the benefit of
this clause 25. Its successor and each of the other Parties shall have the same rights and
obligations amongst themselves as they would have had if such successor had been an original
Party.
	 
	(g)	 	After consultation with the Company, the Lenders may, by notice to the Agents, require them
to resign in accordance with paragraph (b). In this event, the Agents shall resign in
accordance with paragraph (b).

45

 

	 	26.11	 	Confidentiality

	(a)	 	In acting as agent for the Finance Parties, the Agents shall be regarded as acting through
their agency division which shall be treated as a separate entity from any other of their
divisions or departments.
	 
	(b)	 	If information is received by another division or department of the Agents, it may be treated
as confidential to that division or department and the Agents shall not be deemed to have
notice of it.

	 	26.12	 	Relationship with the Lenders

	(a)	 	The Agents may treat each Lender as a Lender, entitled to payments under this Agreement and
acting through its Facility Office unless it has received not less than five Business Days
prior notice from that Lender to the contrary in accordance with the terms of this Agreement.
	 
	(b)	 	Each Lender shall supply the Agents with any information required by the Agents in order to
calculate the Mandatory Cost in accordance with Schedule 4 (Mandatory Cost Formulae).

	 	26.13	 	Credit appraisal by the Lenders

Without affecting the responsibility of the Company for information supplied by it or on its
behalf in connection with any Finance Document, each Lender confirms to the Agents that it
has been, and will continue to be, solely responsible for making its own independent
appraisal and investigation of all risks arising under or in connection with any Finance
Document including:

	(a)	 	the financial condition, status and nature of the Company and any of its Subsidiaries;
	 
	(b)	 	the legality, validity, effectiveness, adequacy or enforceability of any Finance Document and
any other agreement, arrangement or document entered into, made or executed in anticipation
of, under or in connection with any Finance Document;
	 
	(c)	 	whether that Lender has recourse, and the nature and extent of that recourse, against any
Party or any of its respective assets under or in connection with any Finance Document, the
transactions contemplated by the Finance Documents or any other agreement, arrangement or
document entered into, made or executed in anticipation of, under or in connection with any
Finance Document; and
	 
	(d)	 	the adequacy, accuracy and/or completeness of any information provided by the Agents, any
Party or by any other person under or in connection with any Finance Document, the
transactions contemplated by the Finance Documents or any other agreement, arrangement or
document entered into, made or executed in anticipation of, under or in connection with any
Finance Document.

	 	26.14	 	Agents’ management time

Any amount payable to the Agents under clause 15.3 (Indemnity to the Agents), clause 17.2
and 17.3 (Costs and expenses) and clause 26.9 (Lenders’ indemnity to the Agents) shall
include the cost of utilising the Agents’ management time or other resources and will be
calculated on the basis of such reasonable daily or hourly rates as the Agents may notify to
the Company and the Lenders, and is in addition to any fee paid or payable to the Agents
under clause 12 (Fees).

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	 	26.15	 	Deduction from amounts payable by the Agents

If any Party owes an amount to the Agents under the Finance Documents the Agents may, after
giving notice to that Party, deduct an amount not exceeding that amount from any payment to
that Party which the Agents would otherwise be obliged to make under the Finance Documents
and apply the amount deducted in or towards satisfaction of the amount owed. For the
purposes of the Finance Documents that Party shall be regarded as having received any amount
so deducted.

	27.	 	CONDUCT OF BUSINESS BY THE FINANCE PARTIES

No provision of this Agreement will:

	(a)	 	interfere with the right of any Finance Party to arrange its affairs (Tax or otherwise) in
whatever manner it thinks fit;
	 
	(b)	 	oblige any Finance Party to investigate or claim any credit, relief, remission or repayment
available to it or the extent, order and manner of any claim; or
	 
	(c)	 	oblige any Finance Party to disclose any information relating to its affairs (Tax or
otherwise) or any computations in respect of Tax.

	28.	 	SHARING AMONG THE FINANCE PARTIES

	 	28.1	 	Payments to Finance Parties

If a Finance Party (a Recovering Finance Party) receives or recovers any amount from the
Company other than in accordance with clause 29 (Payment mechanics) and applies that amount
to a payment due under the Finance Documents then:

	(a)	 	the Recovering Finance Party shall, within three Business Days, notify details of the receipt
or recovery to the Agents;
	 
	(b)	 	the Agents shall determine whether the receipt or recovery is in excess of the amount the
Recovering Finance Party would have been paid had the receipt or recovery been received or
made by the Agents and distributed in accordance with clause 29 (Payment mechanics), without
taking account of any Tax which would be imposed on the Agents in relation to the receipt,
recovery or distribution; and
	 
	(c)	 	the Recovering Finance Party shall, within three Business Days of demand by the Agents, pay
to the Agents an amount (the Sharing Payment) equal to such receipt or recovery less any
amount which the Agents determine may be retained by the Recovering Finance Party as its share
of any payment to be made, in accordance with clause 29.5 (Partial payments).

	 	28.2	 	Redistribution of payments

The Agents shall treat the Sharing Payment as if they had been paid by the Company and
distribute it between the Finance Parties (other than the Recovering Finance Party) in
accordance with clause 29.5 (Partial payments).

	 	28.3	 	Recovering Finance Party’s rights

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	(a)	 	On a distribution by the Agents under clause 28.2 (Redistribution of payments), the
Recovering Finance Party will be subrogated to the rights of the Finance Parties which have
shared in the redistribution.
	 
	(b)	 	If and to the extent that the Recovering Finance Party is not able to rely on its rights
under paragraph (a), the Company shall be liable to the Recovering Finance Party for a debt
equal to the Sharing Payment which is immediately due and payable.

	 	28.4	 	Reversal of redistribution

If any part of the Sharing Payment received or recovered by a Recovering Finance Party
becomes repayable and is repaid by that Recovering Finance Party, then:

	(a)	 	each Finance Party which has received a share of the relevant Sharing Payment pursuant to
clause 28.2 (Redistribution of payments) shall, upon request of the Agents, pay to the Agents
for the account of that Recovering Finance Party an amount equal to the appropriate part of
its share of the Sharing Payment (together with an amount as is necessary to reimburse that
Recovering Finance Party for its proportion of any interest on the Sharing Payment which that
Recovering Finance Party is required to pay); and
	 
	(b)	 	that Recovering Finance Party’s rights of subrogation in respect of any reimbursement shall
be cancelled and the Company will be liable to the reimbursing Finance Party for the amount so
reimbursed.

	 	28.5	 	Exceptions

	(a)	 	This clause 28 shall not apply to the extent that the Recovering Finance Party would not,
after making any payment pursuant to this clause, have a valid and enforceable claim against
the Company.
	 
	(b)	 	A Recovering Finance Party is not obliged to share with any other Finance Party any amount
which the Recovering Finance Party has received or recovered as a result of taking legal or
arbitration proceedings, if:

	 	(i)	 	it notified that other Finance Party of the legal or arbitration proceedings; and
	 
	 	(ii)	 	that other Finance Party had an opportunity to participate in those legal or
arbitration proceedings but did not do so as soon as reasonably practicable having received
notice and did not take separate legal or arbitration proceedings.

	29.	 	PAYMENT MECHANICS

	 	29.1	 	Payments to the Agents

	(a)	 	On each date on which the Company or a Lender is required to make a payment under a Finance
Document, the Company or that Lender shall make the same available to the Agents (unless a
contrary indication appears in a Finance Document) for value on the due date at the time and
in such funds specified by the Agents as being customary at the time for settlement of
transactions in the relevant currency in the place of payment.
	 
	(b)	 	Payment shall be made to such account in London with such bank as the Agents specify.

48

 

	 	29.2	 	Distributions by the Agents

Each payment received by the Agents under the Finance Documents for another Party shall,
subject to clause 29.3 (Distributions to the Company) and clause 29.4 (Clawback) be made
available by the Agents as soon as practicable after receipt to the Party entitled to
receive payment in accordance with this Agreement (in the case of a Lender, for the account
of its Facility Office), to such account as that Party may notify to the Agents by not less
than five Business Days’ notice with a bank in London.

	 	29.3	 	Distributions to the Company

The Agents may apply any amount received by it for the Company in or towards payment (on the
date and in the currency and funds of receipt) of any amount due from the Company under the
Finance Documents or in or towards purchase of any amount of any currency to be so applied.

	 	29.4	 	Clawback

	(a)	 	Where a sum is to be paid to the Agents under the Finance Documents for another Party, the
Agents are not obliged to pay that sum to that other Party (or to enter into or perform any
related exchange contract) until they have been able to establish to their satisfaction that
they have actually received that sum.
	 
	(b)	 	If the Agents pay an amount to another Party and it proves to be the case that the Agents had
not actually received that amount, then the Party to whom that amount (or the proceeds of any
related exchange contract) was paid by the Agents shall on demand refund the same to the
Agents together with interest on that amount from the date of payment to the date of receipt
by the Agents, calculated by the Agents to reflect their cost of funds.

	 	29.5	 	Partial payments

	(a)	 	If the Agents receive a payment that is insufficient to discharge all the amounts then due
and payable by the Company under the Finance Documents, the Agents shall apply that payment
towards the obligations of the Company under the Finance Documents in the following order:

	 	(i)	 	first, in or towards payment pro rata of any unpaid fees, costs and expenses of the
Agents under the Finance Documents;
	 
	 	(ii)	 	secondly, in or towards payment pro rata of any accrued interest, fee or commission due
but unpaid under this Agreement;
	 
	 	(iii)	 	thirdly, in or towards payment pro rata of any principal due but unpaid under this
Agreement; and
	 
	 	(iv)	 	fourthly, in or towards payment pro rata of any other sum due but unpaid under the
Finance Documents.

	(b)	 	The Agents shall, if so directed by the Lenders, vary the order set out in paragraphs (a)(ii)
to (iv).
	 
	(c)	 	Paragraphs (a) and (b) will override any appropriation made by the Company.

	 	29.6	 	No set-off by the Company

49

 

All payments to be made by the Company under the Finance Documents shall be calculated and
be made without (and free and clear of any deduction for) set-off or counterclaim.

	 	29.7	 	Business Days

	(a)	 	Any payment which is due to be made on a day that is not a Business Day shall be made on the
next Business Day in the same calendar month (if there is one) or the preceding Business Day
(if there is not).
	 
	(b)	 	During any extension of the due date for payment of any principal or Unpaid Sum under this
Agreement interest is payable on the principal or Unpaid Sum at the rate payable on the
original due date.
	 
	30.	 	SET-OFF

A Finance Party may set off any matured obligation due from the Company under the Finance
Documents (to the extent beneficially owned by that Finance Party) against any obligation
(whether or not matured) owed by that Finance Party to the Company, regardless of the place
of payment, booking branch or currency of either obligation. If the obligations are in
different currencies, the Finance Party may convert either obligation at a market rate of
exchange in its usual course of business for the purpose of the set-off.

	31.	 	NOTICES

	 	31.1	 	Communications in writing

Any communication to be made under or in connection with the Finance Documents shall be made
in writing and, unless otherwise stated, may be made by fax or letter.

	 	31.2	 	Addresses

The address and fax number (and the department or officer, if any, for whose attention the
communication is to be made) of each Party for any communication or document to be made or
delivered under or in connection with the Finance Documents is:

	(a)	 	in the case of the Company:

	 	 	 	 	 
	 

	 	Address:
	 	TRM (ATM) Limited
	 

	 	 	 	1a Meadowbank
	 

	 	 	 	Maxwell Way
	 

	 	 	 	Crawley RH10 9SA
	 
	 	 	 	 
	 

	 	Fax number:
	 	+44 1293 585091
	 

	 	Attention:
	 	The Company Secretary

	(b)	 	in the case of the Agents:

	 	 	 	 	 
	 

	 	Address:
	 	GSO Capital Partners
	 

	 	 	 	280 Park Avenue
	 

	 	 	 	11th Floor East

50

 

	 	 	 	 	 
	 

	 	 	 	New York NY 10017
	 
	 	 	 	 
	 

	 	Fax number:
	 	+1 212 503 6921
	 

	 	Attention:
	 	Matthew Bass

	(c)	 	and in the case of each Lender, that notified in writing to the Agents on or prior to the
date on which they become a Party, or any substitute address, fax number or department or
officer as the Party may notify to the Agent (or the Agents may notify to the other Parties,
if a change is made by the Agents) by not less than five Business Days’ notice.

	 	31.3	 	Delivery

	(a)	 	Any communication or document made or delivered by one person to another under or in
connection with the Finance Documents will only be effective:

	 	(i)	 	if by way of fax, when received in legible form; or
	 
	 	(ii)	 	if by way of letter, when it has been left at the relevant address;

and, if a particular department or officer is specified as part of its address details
provided under clause 31.2 (Addresses), if addressed to that department or officer.

	(b)	 	Any communication or document to be made or delivered to the Agents will be effective only
when actually received by the Agents and then only if it is expressly marked for the attention
of the department or officer identified with the Agents’ signature below (or any substitute
department or officer as the Agents shall specify for this purpose).
	 
	(c)	 	All notices from or to the Company shall be sent through the Agents.

	 	31.4	 	Notification of address and fax number

Promptly upon receipt of notification of an address or fax number or change of address or
fax number pursuant to clause 31.2 (Addresses) or changing its own address or fax number,
the Agents shall notify the other Parties.

	 	31.5	 	Electronic communication

	(a)	 	Any communication to be made between the Agents and a Lender under or in connection with the
Finance Documents may be made by electronic mail or other electronic means, if the Agents and
the relevant Lender:

	 	(i)	 	agree that, unless and until notified to the contrary, this is to be an accepted form
of communication;
	 
	 	(ii)	 	notify each other in writing of their electronic mail address and/or any other
information required to enable the sending and receipt of information by that means; and
	 
	 	(iii)	 	notify each other of any change to their address or any other such information
supplied by them.

51

 

	(b)	 	Any electronic communication made between the Agents and a Lender will be effective only
when actually received in readable form and in the case of any electronic communication made
by a Lender to the Agents only if it is addressed in such a manner as the Agents shall specify
for this purpose.
	 
	32.	 	CALCULATIONS AND CERTIFICATES

	 	32.1	 	Accounts

	 	 	In any litigation or arbitration proceedings arising out of or in connection with a Finance
Document, the entries made in the accounts maintained by a Finance Party are prima facie
evidence of the matters to which they relate.
	 
	32.2	 	Certificates and determinations
	 
	 	 	Any certification or determination by a Finance Party of a rate or amount under any Finance
Document is, in the absence of manifest error, conclusive evidence of the matters to which
it relates.
	 
	33.	 	PARTIAL INVALIDITY
	 
	 	 	If, at any time, any provision of the Finance Documents is or becomes illegal, invalid or
unenforceable in any respect under any law of any jurisdiction, neither the legality,
validity or enforceability of the remaining provisions nor the legality, validity or
enforceability of such provision under the law of any other jurisdiction will in any way be
affected or impaired.
	 
	34.	 	REMEDIES AND WAIVERS
	 
	 	 	No failure to exercise, nor any delay in exercising, on the part of any Finance Party, any
right or remedy under the Finance Documents shall operate as a waiver, nor shall any single
or partial exercise of any right or remedy prevent any further or other exercise or the
exercise of any other right or remedy. The rights and remedies provided in this Agreement
are cumulative and not exclusive of any rights or remedies provided by law.
	 
	35.	 	AMENDMENTS AND WAIVERS

	 	35.1	 	Required consents

	(a)	 	Any term of the Finance Documents may be amended or waived only with the consent of all of
the Lenders and the Company and any such amendment or waiver will be binding on all Parties.
	 
	(b)	 	The Agents may effect, on behalf of any Finance Party, any amendment or waiver permitted by
this clause.
	 
	36.	 	COUNTERPARTS
	 
	 	 	Each Finance Document may be executed in any number of counterparts, and this has the same
effect as if the signatures on the counterparts were on a single copy of the Finance
Document.
	 
	37.	 	GOVERNING LAW
	 
	 	 	This Agreement is governed by English law.

52

 

	38.	 	ENFORCEMENT

	 	38.1	 	Jurisdiction

	(a)	 	For the benefit of each Finance Party, the Company agrees that the courts of England are to
have exclusive jurisdiction to settle any dispute arising out of or in connection with this
Agreement (including a dispute regarding the existence, validity or termination of this
Agreement and claims for set-off and counterclaim) (a Dispute) and for such purposes the
Company irrevocably submits to the jurisdiction of the English courts.
	 
	(b)	 	The Parties agree that the courts of England are the most appropriate and convenient courts
to settle Disputes and accordingly no Party will argue to the contrary.
	 
	(c)	 	A judgment or order in connection with a Finance Document of any court referred to in this
clause 38.1 is conclusive and binding on the Company and may be enforced against it in the
courts of any other jurisdiction.

This Agreement has been entered into on the date stated at the beginning of this Agreement.

53

 

SCHEDULE 1

THE ORIGINAL PARTIES

	 	 	 	 	 
	 

	 	Part A

	 

	 	The Borrower

	 
	 	 	 	 
	Name of Borrower

	 	Registration number (or equivalent, if any)

	 
	 	 	 	 
	TRM (ATM) Limited

	 	3782309

54

 

	 	 	 
	 

	 	Part B
	 

	 	The Original Lender
	 
	 	 
	GSO Luxembourg Onshore Funding SarL

	 	12 Rue Adolphe Fischer, L-1521 Luxembourg

55

 

SCHEDULE 2

CONDITIONS PRECEDENT

Conditions precedent to Utilisation

	1.	 	The Company

	 	(a)	 	A copy of the Memorandum and Articles of Association of the Company and each of its
Subsidiaries.
	 
	 	(b)	 	A copy of a resolution of the board of directors of the Company:

	 	(i)	 	approving the terms of, and the transactions contemplated by, the Finance
Documents to which it is a party and resolving that it execute the Finance Documents to
which it is a party;
	 
	 	(ii)	 	authorising a specified person or persons to execute the Finance Documents to
which it is a party on its behalf; and
	 
	 	(iii)	 	authorising a specified person or persons, on its behalf, to sign and/or
despatch all documents and notices (including the Utilisation Request) to be signed
and/or despatched by it under or in connection with the Finance Documents to which it
is a party.

	 	(c)	 	A specimen of the signature of each person authorised by the resolution referred to in
paragraph (b).
	 
	 	(d)	 	A certificate of an authorised signatory of the Company certifying that each copy
document relating to it specified in this Paragraph 1 of Schedule 2 is correct, complete and
in full force and effect as at a date no earlier than the date of this Agreement.
	 
	 	(e)	 	A memorandum of charge ceasing to apply to the Company’s property in respect of Debenture
currently granted in favour of Bank of America.

	2.	 	Legal opinions
	 
	 	 	A legal opinion of Katten Muchin Rosenman Cornish LLP, legal advisers to the Agents in
England, substantially in the form distributed to the Original Lender prior to signing this
Agreement.
	 
	3.	 	Other documents and evidence

Execution of the Security Documents to the satisfaction of the Agents being the Debenture and the
Guarantee.

	 	(a)	 	A copy of any Authorisation or other document, opinion or assurance which the Agents
consider to be necessary or desirable (if it has notified the Company accordingly) in
connection with the entry into and performance of the transactions contemplated by any
Finance Document or for the validity and enforceability of any Finance Document.

56

 

	 	(b)	 	The Original Financial Statements of the Company.
	 
	 	(c)	 	Evidence that the fees, costs and expenses then due from the Company pursuant to clause
12 (Fees) and clause 17 (Costs and expenses) have been paid or will be paid on the date of
the Agreement.

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SCHEDULE 3

UTILISATION REQUEST

From: [Company]

To: [Agent]

Dated:

Dear Sirs

[Company] — [                    ] Facility Agreement dated [                    ] (the Agreement)

	1.	 	We refer to the Agreement. This is the Utilisation Request. Terms defined in the Agreement
have the same meaning in this Utilisation Request unless given a different meaning in this
Utilisation Request.
	 
	2.	 	We wish to borrow the full amount of the Loan in the sum of £[     ].
	 
	3.	 	We confirm that each condition specified in clause 4.2 (Further conditions precedent) is
satisfied on the date of this Utilisation Request.
	 
	4.	 	The proceeds of this Loan should be credited to [account].
	 
	5.	 	This Utilisation Request is irrevocable.

Yours faithfully

                                                            

Authorised signatory for

TRM (ATM) Limited

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SCHEDULE 4

MANDATORY COST FORMULAE

	1.	 	The Mandatory Cost 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 Agents shall
calculate, as a percentage rate, a rate (the Additional Cost Rate) for each Lender, in
accordance with the paragraphs set out below. The Mandatory Cost will be calculated by the
Agents as a weighted average of the Lenders’ Additional Cost Rates (weighted in proportion to
the percentage participation of each Lender in the Loan) and will be expressed as a percentage
rate per annum.
	 
	3.	 	The Additional Cost Rate for any Lender lending from a Facility Office in a Participating
Member State will be the percentage notified by that Lender to the Agents. This percentage
will be certified by that Lender in its notice to the Agents to be its reasonable
determination of the cost (expressed as a percentage of that Lender’s participation in the
Loan made from that Facility Office) of complying with the minimum reserve requirements of the
European Central Bank in respect of loans made from that Facility Office.
	 
	4.	 	The Additional Cost Rate for any Lender lending from a Facility Office in the United Kingdom
will be calculated by the Agents as follows:

Where:

	 	A	 	is 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	 	is the percentage rate of interest (excluding the Margin and
the Mandatory Cost and, if the Loan is an Unpaid Sum, the additional rate of
interest specified in paragraph (a) of clause 9.3 (Default interest)) payable
for the relevant Interest Period on the Loan.
	 
	 	C	 	is 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.
	 
	 	D	 	is the percentage rate per annum payable by the Bank of England
to the Agents on interest bearing Special Deposits.

59

 

	 	E	 	is designed to compensate Lenders for amounts payable under the
Fees Rules and is calculated by the Agents as being the average of the most
recent rates of charge and expressed in pounds 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 FSA 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); and
	 
	 	(d)	 	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 per cent. 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.	 	Each Lender shall supply any information required by the Agents for the purpose of
calculating its Additional Cost 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 Facility Office; and
	 
	 	(b)	 	any other information that the Agents may reasonably require for such purpose.

	 	 	Each Lender shall promptly notify the Agents of any change to the information provided by it
pursuant to this paragraph.
	 
	8.	 	The percentages of each Lender for the purpose of A and C above shall be determined by the
Agents based upon the information supplied to it pursuant to paragraph 7 above and on the
assumption that, unless a Lender notifies the Agents 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 Facility Office in the same
jurisdiction as its Facility Office.
	 
	9.	 	The Agents shall have no liability to any person if such determination results in an
Additional Cost Rate which over or under compensates any Lender and shall be entitled to
assume that the information provided by any Lender pursuant to paragraphs 3 and 7 is true and
correct in all respects.

60

 

	10.	 	The Agents shall distribute the additional amounts received as a result of the Mandatory Cost
to the Lenders on the basis of the Additional Cost Rate for each Lender based on the
information provided by each Lender pursuant to paragraphs 3 and 7.
	 
	11.	 	Any determination by the Agents pursuant to this Schedule in relation to a formula, the
Mandatory Cost, an Additional Cost Rate or any amount payable to a Lender shall, in the
absence of manifest error, be conclusive and binding on all Parties.
	 
	12.	 	The Agents may from time to time, after consultation with the Company 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.

61

 

SCHEDULE 5

FORM OF TRANSFER CERTIFICATES

Part A

To: [               ] as Agent

From: [The Existing Lender] (the Existing Lender) and [The New Lender] (the New Lender)

Dated:

[Company] — [                    ] Facility Agreement dated [                    ] (the Agreement)

	1.	 	We refer to the Agreement. This is a Transfer Certificate. Terms defined in the Agreement
have the same meaning in this Transfer Certificate unless given a different meaning in this
Transfer Certificate.
	 
	2.	 	We refer to clause 24.5 (Procedure for transfer).

	 	(a)	 	The Existing Lender and the New Lender agree to the Existing Lender
transferring to the New Lender by novation all or part of the Existing Lender’s
Commitment, rights and obligations referred to in the Schedule in accordance with
clause 24.5 (Procedure for transfer).
	 
	 	(b)	 	The proposed Transfer Date is [               ].
	 
	 	(c)	 	The Facility Office and address, fax number and attention details for notices
of the New Lender for the purposes of clause 31.2 (Addresses) are set out in the
Schedule.

	3.	 	The New Lender expressly acknowledges the limitations on the Existing Lender’s obligations
set out in paragraph (c) of clause 24.4 (Limitation of responsibility of Existing Lenders).
	 
	4.	 	The New Lender confirms that the person beneficially entitled to interest payable to that
Lender in respect of an advance under a Finance Document is either:

	 	(a)	 	a company resident in the United Kingdom for United Kingdom tax purposes;
	 
	 	(b)	 	a partnership each member of which is:

	 	(i)	 	a company so resident in the United Kingdom; or
	 
	 	(ii)	 	a company not so resident in the United Kingdom which carries
on a trade in the United Kingdom through a permanent establishment and which
brings into account in computing its chargeable profits (for the purposes of
section 11(2) of the Taxes Act) the whole of any share of interest payable in
respect of that advance that falls to it by reason of sections 114 and 115 of
the Taxes Act.]

	 	(c)	 	a company not so resident in the United Kingdom which carries on a trade in the
United Kingdom through a permanent establishment and which brings into account interest

62

 

	 	 	 	payable in respect of that advance in computing the chargeable profits (for the
purposes of section 11(2) of the Taxes Act) of that company.]

	[4/5.]	 	 This Transfer Certificate may be executed in any number of
counterparts and this has the same effect as if the signatures on
the counterparts were on a single copy of this Transfer
Certificate.
	 
	[5/6.]	 	 This Transfer Certificate is governed by English law.

THE SCHEDULE

Commitment/rights and obligations to be transferred

[insert relevant details]

[Facility Office address, fax number and attention details for notices and account details for
payments]

	 	 	 
	[Existing Lender]

	 	[New Lender]
	 
	 	 
	By:

	 	By:

This Transfer Certificate is accepted by the Agent and the Transfer Date is confirmed as
[     ].

[Agent]

By:

The Company and [consents to]/[acknowledges notice of] the assignment and transfer from the
Existing Lender to the New Lender in accordance with clause 23.1 (Assignments and transfers by the
Lenders).

[Company]

By:

63

 

Part B

LMA Transfer Certificate (PAR)

BANK:

DATE:

TRANSFEREE:

This Transfer Certificate is entered into pursuant to (i) the agreement (the Sale Agreement)
evidenced by the Confirmation dated [___] between the Bank and the Transferee (acting
directly or through their respective agents) and (ii) the Credit Agreement.

On the Transfer Date, the transfer by way of novation from the Bank to the Transferee on the terms
set out herein and in the Credit Agreement shall become effective subject to:

	(a)	 	the Sale Agreement and the terms and conditions incorporated in the Sale Agreement;
	 
	(b)	 	the terms and conditions annexed hereto; and
	 
	(c)	 	the schedule annexed hereto,

all of which are incorporated herein by reference.

	 	 	 
	The Bank

	 	The Transferee
	 
	 	 
	[                                                                     
              ]

	 	[                                                                        
        ]
	By:

	 	By:

64

 

THE SCHEDULE

	 	 	 	 	 	 	 
	Credit Agreement Details
	 	 	 	 	 	 
	Borrower(s)
	 	 	 	 	 	 
	 	 	 	 	 
	Credit Agreement Dated
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	Agent Bank
	 	 	 	 	 	 
	 	 	 	 	 
	Security

	 	o No o Yes (specify)	 	 	 	 
	 

	 	 	 	 	 	 
	Total Facility Amount
	 	 	 	 	 	 
	 	 	 	 	 
	Governing Law
	 	 	 	 	 	 
	 	 	 	 	 
	Additional Information
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	Transfer Details
	 	 	 	 	 	 
	Name of Tranche Facility
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	Nature (Revolving,
Term, Acceptances
Guarantee/Letter of
Credit, Other)
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	Final Maturity:
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Participation Transferred
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Commitment transferred1
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	Drawn Amount

(details below)1
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Undrawn Amount 1
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	Settlement Date
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Details of outstanding Credits 1
	 	 	 	 	 	 
	Specify in respect of each Credit
	 	 	 	 	 	 
	Transferred Portion (amount)
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	Tranche/Facility
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	Nature

	 	o Term o Revolver o Acceptance
	 	o Guarantee/Letter of Credit	 	 
	 

	 	o Other (specify	 	 	 	 
	 

	 	 	 	 

	 	 

	 	 	 	5oo Details of other Credits are set out on the attached sheet

	 	 	 	 	 
	Administration Details
	 	 	 	 
	Bank’s Receiving Account
	 	 	 	 
	 

	 	 	 	 
	Transferee’s Receiving Account
	 	 	 	 
	 

	 	 

	 	 

	 	 	 
	Addresses
	 	 
	Bank

	 	Transferee
	[                                                              ]

	 	[                                                              ]
	Telephone

	 	Telephone
	Facsimile

	 	Facsimile

 

			
	1	 	As at the date of the Transfer Certificate

65

 

	 	 	 
	Telex

	 	Telex
	Attn/Ref

	 	Attn/Ref

TERMS AND CONDITIONS

These are the Terms and Conditions applicable to the transfer certificate including the Schedule
thereto (the Transfer Certificate) to which they are annexed.

	1.	 	Interpretation
	 
	 	 	In these Terms and Conditions words and expressions shall (unless otherwise expressly
defined herein) bear the meaning given to them in the Transfer Certificate, the Credit
Agreement or the Sale Agreement.
	 
	2.	 	Transfer
	 
	 	 	The Bank requests the Transferee to accept and procure the transfer by novation of all or a
part (as applicable) of such participation of the Bank under the Credit Agreement as is set
out in the relevant part of the Transfer Certificate under the heading “Participation
Transferred” (the Purchased Assets) by counter-signing and delivering the Transfer
Certificate to the Agent at its address for the service of notice specified in the Credit
Agreement. On the Transfer Date the Transferee shall pay to the Bank the Settlement Amount
as specified in the pricing letter between the Bank and the Transferee dated the date of the
Transfer Certificate (adjusted, if applicable, in accordance with the Sale Agreement) and
completion of the transfer will take place.
	 
	3.	 	Effectiveness of Transfer
	 
	 	 	The Transferee hereby requests the Agent to accept the Transfer Certificate as being
delivered to the Agent pursuant to and for the purposes of the Credit Agreement so as to
take effect in accordance with the terms of the Credit Agreement on the Transfer Date or on
such later date as may be determined in accordance with the terms thereof.
	 
	4.	 	Transferee’s Undertaking
	 
	 	 	The Transferee hereby undertakes with the Agent and the Bank and each of the other parties
to the Credit Documentation that it will perform in accordance with its terms all those
obligations which by the terms thereof will be assumed by it after delivery of the Transfer
Certificate to the Agent and satisfaction of the conditions (if any) subject to which the
Transfer Certificate is to take effect.
	 
	5.	 	Payments
	 
	5.1	 	Place
	 
	 	 	All payments by either party to the other under the Transfer Certificate shall be made to
the Receiving Account of that other party. Each party may designate a different account as
its Receiving Account for payment by giving the other not less than five Business Days
notice before the due date for payment.
	 
	5.2	 	Funds

66

 

	 	 	Payments under the Transfer Certificate shall be made in the currency in which the amount is
denominated for value on the due date at such times and in such funds as are customary at
the time for settlement of transactions in that currency.
	 
	6.	 	Transferee’s Tax Confirmation
	 
	 	 	The Transferee confirms that the person beneficially entitled to interest payable to the
Transferee in its capacity as Lender in respect of an advance under a Finance Document is
either:

	 	(a)	 	a company resident in the United Kingdom, or a partnership each member of which
is a company resident in the United Kingdom, for United Kingdom tax purposes; or
	 
	 	(b)	 	a company not so resident in the United Kingdom which carries on a trade in the
United Kingdom through a branch or agency and interest payable in respect of an advance
under a Finance Document falls to be brought into account in computing the chargeable
profits of that company for the purposes of section 11(2) of the Taxes Act.

	7.	 	The Agent
	 
	 	 	The Agent shall not be required to concern itself with the Sale Agreement and may rely on
the Transfer Certificate without taking account of the provisions of such agreement.
	 
	8.	 	Assignment of Rights
	 
	 	 	The Transfer Certificate shall be binding upon and enure to the benefit of each party and
its successors and permitted assigns provided that neither party may assign or transfer its
rights thereunder without the prior written consent of the other party.
	 
	9.	 	Third Party Rights
	 
	 	 	A person who is not a party to the Transfer Certificate has no rights under the Contracts
(Rights of Third Parties) Act 1999 to enforce or to enjoy the benefit of any term of the
Transfer Certificate.
	 
	10.	 	Governing Law and Jurisdiction
	 
	 	 	The Transfer Certificate (including, without limitation, these Terms and Conditions) shall
be governed by and construed in accordance with the laws of England, and the parties submit
to the non-exclusive jurisdiction of the English courts.
	 
	 	 	Each party irrevocably appoints the person described as process agent (if any) specified in
the Sale Agreement to receive on its behalf service of any action, suit or other proceedings
in connection with the Transfer Certificate. If any person appointed as process agent
ceases to act for any reason the appointing party shall notify the other party and shall
promptly appoint another person incorporated within England and Wales to act as its process
agent.

67

 

SCHEDULE 6

FORM OF COMPLIANCE CERTIFICATE

For the Fiscal quarter ended [June 30, 2006].

     I, [Responsible Officer], [Title] of TRM (ATM) Limited (the “Company”) hereby certify on
behalf of the Company and its Subsidiaries that, to the best of my knowledge and belief, with
respect to the Facility Agreement dated 6th June 2006 (as amended, modified, restated or
supplemented from time to time, the “Agreement”; all of the defined terms in the Agreement are
incorporated herein by reference) between the Company and GSO Luxembourg Onshore Funding SarL, in
its respective capacities as Facility Agent, Security Agent and as a Lender:

     (a) The TRM GROUP-prepared financial statements which accompany this certificate have been
prepared in accordance with GAAP applied on a consistent basis, subject to the absence of footnotes
and changes resulting from normal year-end audit adjustments, and fairly present the financial
condition, results of operation and cash flows of the TRM Group as of the dates thereof and for the
period covered thereby.

     (b) The
Company o has o has not (check one) created or acquired any Subsidiary during the
fiscal quarter.

     (c) In accordance with Section 20.14 of the Facility Agreement, each Subsidiary of the
Company (other than TRM Germany) [ has ] remained dormant throughout the fiscal quarter and the
Company [ has not ] contributed any funds or other assets to any Subsidiary, other amount necessary
to pay statutory and auditing fees and contributions to TRM Germany not prohibited by the terms of
the Agreement.

     (d) Attached herewith as Exhibit A are detailed calculations by the TRM Group of the
financial covenants set out in Clause 20 of the Agreement as at the last day of the fiscal period2
referred to above. The Loan Parties are in compliance with the financial covenants contained in
Clause 8.11 of the Agreement on the date hereof. [, except as set forth below ]

     (e) The amounts (if any) of Merchant Owned ATM Technology Upgrades described in Exhibit A
constitute actual cash expenses of the Loan Parties paid in connection with Merchant Owned ATM
Technology Upgrades (in accordance with the definition of such term set out in the Credit
Agreement).

 

			
	2	 	Methodology to calculate (12) consecutive month period
financial information: (1) Quarter Ended June 30, 2006: Six (6) Month period
ended June 30, 2006 multiplied by two; (2) Quarter Ended September 30, 2006:
Nine (9) Month period ended September 30, 2006 multiplied by four-thirds (4/3);
(3) Quarter Ended December 31, 2006 and all periods thereafter: Twelve (12)
Month period.

68

 

     (f) No Default or Event of Default has occurred and is continuing. [, except as set forth
below. ]

     (f) [ Except as set forth below, ] The representations and warranties set out in the
Agreement are true, complete and correct in all material respects (unless any such representation
or warranty is qualified by materiality, in which case such representation or warranty is true,
complete and correct in all respects) as of the date hereof, except to the extent such
representation or warranty relates to a specific date, in which case such representation or
warranty was true, complete and correct on such date.

     Dated                                        

	 	 	 	 	 	 	 
	 	 	TRM (ATM) LIMITED	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

69

 

SCHEDULE 7

FORM OF LMA CONFIDENTIALITY UNDERTAKING

[Letterhead of Agents]

To:

[insert name of Potential Lender]

Re:     The Facility

Borrower:

Amount:

Agent:

Dear Sirs

We understand that you are considering participating in the Facility. In consideration of us
agreeing to make available to you certain information, by your signature of a copy of this letter
you agree as follows:

	1.	 	Confidentiality Undertaking
	 
	 	 	You undertake:

	 	(a)	 	to keep the Confidential Information confidential and not to disclose it to
anyone except as provided for by paragraph 2 and to ensure that the Confidential
Information is protected with security measures and a degree of care that would apply
to your own confidential information;
	 
	 	(b)	 	to keep confidential and not disclose to anyone the fact that the Confidential
Information has been made available or that discussions or negotiations are taking
place or have taken place between us in connection with the Facility;
	 
	 	(c)	 	to use the Confidential Information only for the Permitted Purpose;
	 
	 	(d)	 	to use all reasonable endeavours to ensure that any person to whom you pass any
Confidential Information (unless disclosed under paragraph 2(b)) acknowledges and
complies with the provisions of this letter as if that person were also a party to it;
and
	 
	 	(e)	 	not to make enquiries of the Company and each of its Subsidiaries or any of
their officers, directors, employees or professional advisers relating directly or
indirectly to the Facility.

70

 

	2.	 	Permitted Disclosure
	 
	 	 	We agree that you may disclose Confidential Information:

	 	(a)	 	to members of the Participant Group and their officers, directors, employees
and professional advisers to the extent necessary for the Permitted Purpose and to any
auditors of members of the Participant Group;
	 
	 	(b)	 	(i) where requested or required by any court of competent jurisdiction or any
competent judicial, governmental, supervisory or regulatory body, (ii) where required
by the rules of any stock exchange on which the shares or other securities of any
member of the Participant Group are listed or (iii) where required by the laws or
regulations of any country with jurisdiction over the affairs of any member of the
Participant Group; or
	 
	 	(c)	 	with the prior written consent of us and the Company.

	3.	 	Notification of Required or Unauthorised Disclosure
	 
	 	 	You agree (to the extent permitted by law) to inform us of the full circumstances of any
disclosure under paragraph 2(b) or upon becoming aware that Confidential Information has
been disclosed in breach of this letter.

	4.	 	Return of Copies
	 
	 	 	If we so request in writing, you shall return all Confidential Information supplied to you
by us and destroy or permanently erase all copies of Confidential Information made by you
and use all reasonable endeavours to ensure that anyone to whom you have supplied any
Confidential Information destroys or permanently erases such Confidential Information and
any copies made by them, in each case save to the extent that you or the recipients are
required to retain any such Confidential Information by any applicable law, rule or
regulation or by any competent judicial, governmental, supervisory or regulatory body or in
accordance with internal policy, or where the Confidential Information has been disclosed
under paragraph 2(b).
	 
	5.	 	Continuing Obligations
	 
	 	 	The obligations in this letter are continuing and, in particular, shall survive the
termination of any discussions or negotiations between you and us. Notwithstanding the
previous sentence, the obligations in this letter shall cease (a) if you become a party to
or otherwise acquire (by assignment or sub participation) an interest, direct or indirect in
the Facility or (b) twelve months after you have returned all Confidential Information
supplied to you by us and destroyed or permanently erased all copies of Confidential
Information made by you (other than any such Confidential Information or copies which have
been disclosed under paragraph 2 (other than sub-paragraph 22(a)) or which, pursuant to
paragraph 4, are not required to be returned or destroyed).
	 
	6.	 	No Representation; Consequences of Breach, etc
	 
	 	 	You acknowledge and agree that:

	 	(a)	 	neither we nor any of our officers, employees or advisers (each a Relevant
Person) (i) make any representation or warranty, express or implied, as to, or assume
any responsibility for, the accuracy, reliability or completeness of any of the
Confidential

71

 

	 	 	 	Information or any other information supplied by us or the Company or the
assumptions on which it is based or (ii) shall be under any obligation to update or
correct any inaccuracy in the Confidential Information or any other information
supplied by us or the Company or be otherwise liable to you or any other person in
respect to the Confidential Information or any such information; and

	 	(b)	 	we or the Company may be irreparably harmed by the breach of the terms of this
letter and damages may not be an adequate remedy; each Relevant Person or the Company
may be granted an injunction or specific performance for any threatened or actual
breach of the provisions of this letter by you.

	7.	 	No Waiver; Amendments, etc
	 
	 	 	This letter sets out the full extent of your obligations of confidentiality owed to us in
relation to the information the subject of this letter. No failure or delay in exercising
any right, power or privilege under this letter will operate as a waiver thereof nor will
any single or partial exercise of any right, power or privilege preclude any further
exercise thereof or the exercise of any other right, power or privileges under this letter.
The terms of this letter and your obligations under this letter may only be amended or
modified by written agreement between us.
	 
	8.	 	Inside Information
	 
	 	 	You acknowledge that some or all of the Confidential Information is or may be
price-sensitive information and that the use of such information may be regulated or
prohibited by applicable legislation relating to insider dealing and you undertake not to
use any Confidential Information for any unlawful purpose.
	 
	9.	 	Nature of Undertakings
	 
	 	 	The undertakings given by you under this letter are given to us and (without implying any
fiduciary obligations on our part) are also given for the benefit of the Company.
	 
	10.	 	Third party rights

	 	(a)	 	Subject to paragraph 6 and paragraph 9 the terms of this letter may be enforced
and relied upon only by you and us and the operation of the Contracts (Rights of Third
Parties) Act 1999 is excluded.
	 
	 	(b)	 	Notwithstanding any provisions of this letter, the parties to this letter do
not require the consent of any Relevant Person or the Company to rescind or vary this
letter at any time.

	11.	 	Governing Law and Jurisdiction
	 
	 	 	This letter (including the agreement constituted by your acknowledgement of its terms) shall
be governed by and construed in accordance with the laws of England and the parties submit
to the non-exclusive jurisdiction of the English courts.
	 
	12.	 	Definitions
	 
	 	 	In this letter (including the acknowledgement set out below):

72

 

	 	 	Confidential Information means any information relating to the Company and the Facility
and includes information given orally and any document, electronic file or any other way of
representing or recording information which contains or is derived or copied from such
information but excludes information that (a) is or becomes public knowledge other than as a
direct or indirect result of any breach of this letter or (b) is known by you before the
date the information is disclosed to you by us or any of our affiliates or advisers or is
lawfully obtained by you after that date, other than from a source which is connected with
the Company or any of its Subsidiaries and which, in either case, as far as you are aware,
has not been obtained in violation of, and is not otherwise subject to, any obligation of
confidentiality;
	 
	 	 	Participant Group means you, each of your holding companies and subsidiaries and each
subsidiary of each of your holding companies (as each such term is defined in the Companies
Act 1985); and
	 
	 	 	Permitted Purpose means considering and evaluating whether to enter into the Facility.

Please acknowledge your agreement to the above by signing and returning the enclosed copy.

Yours faithfully

                                        

For and on behalf of

[Agent]

To: [Agent]

The Company

We acknowledge and agree to the above:

                                        

For and on behalf of

[Potential Lender]

73

 

SCHEDULE 8

EXISTING INDEBTEDNESS

1. All monies due to NCR Limited under a Charge dated 4th September 2002 in connection
with contracts.

2. All monies due to NCR Limited under a Charge dated 29th October 2002 in connection
with contracts for automated teller machines.

74

 

SCHEDULE 9

MATERIAL CONTRACTS

Agreement (undated) between the Company (1) and Alliance & Leicester Commercial Bank plc
(2)commencing 1st February 2004 for the provision of cash.

75

 

SIGNATORIES

The Company

TRM (ATM) LIMITED

By: Kevin Waterhouse

Director

The Facility Agent

GSO LUXEMBOURG ONSHORE FUNDING SarL

By George Fan, Managing Director

The Security Agent

GSO LUXEMBOURG ONSHORE FUNDING SarL

By George Fan, Managing Director

The Original Lender

GSO LUXEMBOURG ONSHORE FUNDING SarL

By George Fan, Managing Director

76

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