Document:

exhibit10_37.htm

                                                                             Exhibit
10.37

    

    HOLDCO MIRROR
NOTES

    AGREEMENT

     

    This
MIRROR NOTES AGREEMENT (the “Agreement”) is
entered into as of the 2nd day of October, 2007, by and between Charter
Communications, Inc., a Delaware corporation (“CCI”), and Charter
Communications Holding Company, LLC, a Delaware limited liability company
(“Holdco”),
with reference to the following facts (capitalized terms used but not otherwise
defined herein shall have the meanings set forth in Exhibit A
hereto):

     

    A.           CCI
is the beneficial owner of the mirror note dated as of November 22, 2004 (the
“Old Mirror
Note”) which had an original principal amount of $862,500,000, which Old
Mirror Note has economic terms substantially identical to those of CCI’s 5.875%
Convertible Senior Notes due 2009 (the “Old
Notes”);

     

    B.           On
August 29, 2007, Holdco launched its exchange offer, which was subsequently
amended on September 14, 2007, pursuant to which it offered $793,443,000
principal amount of CCI’s 6.50% convertible senior notes due 2027 to holders of
any and all of the Old Notes (the “Exchange Offer”) and
CCI has agreed to issue $479,168,000 principal amount of such 6.50% convertible
senior notes due 2027 (the “New Notes”) in
connection with the Exchange Offer;

     

    C.           CCI
and Holdco wish to arrange for, on the terms and conditions set forth herein,
the issuance by CCI to Holdco, concurrently with the closing of the Exchange
Offer, of the New Notes in exchange for a new mirror note, which new mirror note
will contain economic terms substantially identical to those of the New Notes
(the “New Mirror
Note”); and

     

    D.           CCI
and Holdco have agreed that the Old Notes tendered in the Exchange Offer and the
Old Mirror Note shall remain outstanding after the closing of the Exchange
Offer.

     

    NOW,
THEREFORE, in consideration of the foregoing premises and the mutual covenants
hereinafter contained, the parties hereto agree as follows:

     

    1.           Purchase of New Mirror
Note.  In consideration for the issuance by CCI to Holdco of
the New Notes, subject to the terms and conditions of this Agreement, CCI agrees
to purchase from Holdco, and Holdco hereby agrees to issue and sell to CCI, the
New Mirror Note in the original aggregate principal amount of $479,168,000, with
economic terms that are substantially identical to those of the New Notes, which
terms are as described in the Exchange Offer Prospectus forming a part of the
registration statement on Form S−4 covering the registration of the New Notes
(File No. 333-145766), as amended .

     

    2.           Old Notes and Old Mirror
Note.  On the closing of the Exchange Offer, (i) the Old Notes
accepted for exchange by Holdco in connection with the Exchange Offer shall
continue to remain outstanding and held by Holdco and (ii) the Old Mirror Note
shall remain outstanding and continue to be held by CCI.

     

    3.           Covenants.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (a)           Reasonable Efforts to
Close.  CCI and Holdco shall use reasonable efforts to take
such actions as are necessary or desirable to consummate the transactions
contemplated by this Agreement.

     

    (b)           Acknowledgment of
One-for-one Requirement.  CCI and Holdco acknowledge and agree
that the transactions contemplated herein are required pursuant to their
respective restated certificate of incorporation and limited liability company
agreement in order to maintain the one-for-one requirements contained
therein.

     

    (c)           New Mirror Note Not
Registered.  Each of CCI and Holdco acknowledges and agrees
that the New Mirror Note, when issued, will not have been registered under the
Securities Act and will be issued in reliance upon an exemption from the
registration requirements of the Securities Act. Each of CCI and Holdco
acknowledges and agrees that it has not offered, sold or delivered the New
Mirror Note to be acquired by CCI, and neither of them will offer, sell or
deliver such New Mirror Note except pursuant to an exemption from registration
to the extent available under the Securities Act.

     

    4.            
Conditions to
Closing.

     

    4.1           Issuance of New
Note.  The obligation of CCI to issue the New Notes is subject
to the closing of the Exchange Offer.

     

    4.2           Issuance of New Mirror
Notes.  The obligations of CCI and Holdco to close the issuance
of the New Mirror Note are subject to the consummation of the issuance of the
New Notes.

     

    5.            
Termination and
Amendment.

     

    5.1           By Mutual
Consent.  This Agreement may be terminated or amended at any
time prior to the Closing Date by the mutual written consent of CCI and
Holdco.

     

    5.2           By
Holdco.  This Agreement may be terminated or amended by Holdco
solely to reflect the termination of the Exchange Offer or of the Dealer Manager
Agreement.

     

    5.3           Effect of
Termination.  If this Agreement is terminated as provided in
this Section 4, then this Agreement will forthwith become null and void and
there will be no liability on the part of any party hereto to any other party
hereto or any other person or entity in respect thereof, provided that the
obligations of the parties described in Section 5.3 will survive any such
termination.

     

    6.            
Miscellaneous.

     

    6.1           Governing
Law.  This Agreement shall be governed in all respects by the
internal laws of the State of New York without regard to principles of conflicts
of law or choice of law that would require the application of any other
jurisdiction’s laws.

     

    6.2           Further Assurances;
Additional Documents.  The parties shall take any actions and
execute any other documents that may be necessary or desirable to the
implementation and 

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

      consummation
of this Agreement upon the reasonable request of the other party. In that
regard, the parties agree to equitably adjust the terms of this Agreement and
for the New Mirror Notes from time to time as may be necessary to ensure that
the New Mirror Note qualifies as a mirror security, in respect of all New Notes,
for purposes of CCI’s certificate of incorporation.

    

     

    6.3           Fees and
Expenses.  Holdco shall be responsible for all fees and
expenses of each party in connection with this Agreement and the transactions
contemplated hereby, the Exchange Offer and the Dealer Manager Agreement. Holdco
will either reimburse CCI for all such expenses or pay such expenses
directly.

     

    6.4           Severability.  If
any term or provision of this Agreement is determined by a court of competent
jurisdiction to be invalid, illegal or incapable of being enforced by any rule
of law or public policy, all other terms and provisions of this Agreement shall
nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner
materially adverse to any party. Upon determination that any term or other
provision of this Agreement is invalid, illegal or incapable of being enforced,
the parties hereto shall negotiate in good faith to attempt to agree on a
modification of this Agreement so as to effect the original intent of the
parties as closely as possible to the fullest extent permitted by law in an
acceptable manner to the end that the transactions contemplated hereby are
fulfilled to the greatest extent possible.

     

    6.5           Entire
Agreement.  This Agreement and the other Transaction Documents
represent the entire agreement and understandings between the parties concerning
the sale and issuance of the New Mirror Note and the other matters described
therein and supersedes and replaces any and all prior agreements and
understandings.

     

    6.6           No Oral
Modification.  This Agreement may only be amended in writing
signed by CCI and Holdco.

     

    6.7           Notices.  All
notices, requests and other communications hereunder shall be in writing and
shall be deemed to have been duly given at the time of receipt if delivered by
hand, by reputable overnight courier or by facsimile transmission (with receipt
of successful and full transmission) to the applicable parties hereto at the
address stated on the signature pages hereto or if any party shall have
designated a different address or facsimile number by notice to the other party
given as provided above, then to the last address or facsimile number so
designated.

     

    6.8           Counterparts.  This
Agreement may be executed in one or more counterparts each of which shall be
deemed an original and all of which together shall constitute one instrument.
Facsimile signatures shall constitute original signatures.

     

    [NEXT
PAGE IS SIGNATURE PAGE]

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    SIGNATURE
PAGE TO MIRROR NOTE AGREEMENT

     

    IN
WITNESS WHEREOF the parties have executed this Agreement on the date set forth
below.

     

                “CCI”

     

    Dated:
October 2,
2007                                                                                      Charter Communications,
Inc.

     

                                                 
By:           /s/ Thomas M.
Degnan            

                                                        Name:      Thomas
M. Degnan

                                                        Its:           Vice
President, Finance and

                                                             Corporate
Treasurer

    

                                                      

     

    Notice
Address:

    Charter
Communications, Inc.

    12405
Powerscourt Drive

    St.
Louis, Missouri  63131

    Facsimile:  (3
14) 965-8793

    Attn:
Grier C. Raclin, Esq.

     

                ‘‘Holdco”

    Dated:
October 2,
2007                                                                                       Charter
Communications Holding Company, 

                  
LLC

     

                                                      By:  Charter
Communications, Inc., its 

                                                      manager

     

     

                                                      By:           /s/ Thomas M.
Degnan            

                                                      Name:      Thomas
M. Degnan

                                                      Its:           Vice
President, Finance and

                                                           Corporate
Treasurer

    

    Notice
Address:

    Charter
Communications Holding

    Company,
LLC

    12405
Powerscourt Drive

    St.
Louis, Missouri  63131

    Facsimile:  (314)
965-8793

    Attn:  Grier
C. Raclin, Esq.

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    EXHIBIT
A

     

    CERTAIN
DEFINITIONS

     

    Definitions.  For
purposes of this Agreement, the following terms shall have the following
meanings:

     

    “Dealer Manager
Agreement” means the Dealer Manager Agreement, dated as of August 29,
2007, among Holdco, Citigroup Global Markets Inc. and Morgan Stanley & Co.
Incorporated.

     

    “Securities Act” means
the Securities Act of 1933, as amended, and the rules and regulations
thereunder.

     

    “Transaction
Documents” means this Agreement and the other documents and instruments
to be executed and delivered in connection herewith at or prior to the
Closing.Exhibit 10.1

 

EXECUTION
COPY

 

 

 

CREDIT
AGREEMENT

 

dated
as of

 

February 26,
2008

 

among

 

BRUKER
BIOSCIENCES CORPORATION

(to be renamed BRUKER CORPORATION),

as
the Company,

 

BRUKER
AXS GmbH,

BRUKER DALTONIK GmbH,

BRUKER OPTIK GmbH,

BRUKER PHYSIK GmbH,

BRUKER BIOSPIN INVEST AG,

BRUKER BIOSPIN AG and

BRUKER BIOSPIN INTERNATIONAL AG,

 

as
Foreign Subsidiary Borrowers

 

The
Other Foreign Subsidiary Borrowers From Time to Time Party Hereto

The Lenders Party Hereto

 

RBS
CITIZENS, NATIONAL ASSOCIATION, DEUTSCHE BANK SECURITIES INC. and

DRESDNER
BANK AG, NEW YORK AND GRAND CAYMAN BRANCHES

as Co-Documentation Agents

 

CITIBANK,
N.A.

as Syndication Agent

 

and

 

JPMORGAN CHASE BANK, N.A.

as Administrative Agent

 

RBS
CITIZENS, NATIONAL ASSOCIATION

as
Co-Arranger

 

J.P.
MORGAN SECURITIES INC.

and

CITIGROUP
GLOBAL MARKETS INC.

as Joint Bookrunners and Joint Lead Arrangers

 

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  ARTICLE I Definitions

  	
   

  	
   

  
	
  Defined Terms

  	
   

  	
  1

  
	
  SECTION 1.02. 

  	
  Classification of Loans
  and Borrowings

  	
   

  	
  22

  
	
  SECTION 1.03. 

  	
  Terms Generally

  	
   

  	
  22

  
	
  SECTION 1.04. 

  	
  Accounting Terms; GAAP

  	
   

  	
  22

  
	
   

  	
   

  	
   

  
	
  ARTICLE II The Credits

  	
   

  	
  23

  
	
   

  	
   

  	
   

  
	
  SECTION 2.01. 

  	
  Commitments

  	
   

  	
  23

  
	
  SECTION 2.02. 

  	
  Loans and Borrowings

  	
   

  	
  23

  
	
  SECTION 2.03. 

  	
  Requests for Borrowings

  	
   

  	
  24

  
	
  SECTION 2.04. 

  	
  Determination of Dollar
  Amounts

  	
   

  	
  24

  
	
  SECTION 2.05. 

  	
  Swingline Loans

  	
   

  	
  25

  
	
  SECTION 2.06. 

  	
  Letters of Credit

  	
   

  	
  26

  
	
  SECTION 2.07. 

  	
  Funding of Borrowings

  	
   

  	
  30

  
	
  SECTION 2.08. 

  	
  Interest Elections

  	
   

  	
  31

  
	
  SECTION 2.09. 

  	
  Termination and
  Reduction of Commitments

  	
   

  	
  32

  
	
  SECTION 2.10. 

  	
  Repayment and
  Amortization of Loans; Evidence of Debt

  	
   

  	
  32

  
	
  SECTION 2.11. 

  	
  Prepayment of Loans.

  	
   

  	
  34

  
	
  SECTION 2.12. 

  	
  Fees

  	
   

  	
  34

  
	
  SECTION 2.13. 

  	
  Interest

  	
   

  	
  35

  
	
  SECTION 2.14. 

  	
  Alternate Rate of
  Interest

  	
   

  	
  36

  
	
  SECTION 2.15. 

  	
  Increased Costs

  	
   

  	
  37

  
	
  SECTION 2.16. 

  	
  Break Funding Payments

  	
   

  	
  38

  
	
  SECTION 2.17. 

  	
  Taxes

  	
   

  	
  39

  
	
  SECTION 2.18. 

  	
  Payments Generally; Pro
  Rata Treatment; Sharing of Set-offs.

  	
   

  	
  40

  
	
  SECTION 2.19. 

  	
  Mitigation Obligations;
  Replacement of Lenders

  	
   

  	
  41

  
	
  SECTION 2.20. 

  	
  Expansion Option

  	
   

  	
  42

  
	
  SECTION 2.21. 

  	
  Market Disruption

  	
   

  	
  43

  
	
  SECTION 2.22. 

  	
  Judgment Currency

  	
   

  	
  44

  
	
  SECTION 2.23. 

  	
  Designation of Foreign
  Subsidiary Borrowers

  	
   

  	
  44

  
	
  SECTION 2.24. 

  	
  Senior Debt

  	
   

  	
  44

  
	
   

  	
   

  	
   

  
	
  ARTICLE III
  Representations and Warranties

  	
   

  	
  45

  
	
   

  	
   

  	
   

  
	
  SECTION 3.01. 

  	
  Organization; Powers;
  Subsidiaries

  	
   

  	
  45

  
	
  SECTION 3.02. 

  	
  Authorization;
  Enforceability

  	
   

  	
  45

  
	
  SECTION 3.03. 

  	
  Governmental Approvals;
  No Conflicts

  	
   

  	
  45

  
	
  SECTION 3.04. 

  	
  Financial Condition; No
  Material Adverse Change

  	
   

  	
  46

  
	
  SECTION 3.05. 

  	
  Properties

  	
   

  	
  46

  
	
  SECTION 3.06. 

  	
  Litigation and
  Environmental Matters

  	
   

  	
  46

  
	
  SECTION 3.07. 

  	
  Compliance with Laws
  and Agreements

  	
   

  	
  46

  
	
  SECTION 3.08. 

  	
  Investment Company
  Status

  	
   

  	
  47

  

 

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 3.09. 

  	
  Taxes

  	
   

  	
  47

  
	
  SECTION 3.10. 

  	
  ERISA

  	
   

  	
  47

  
	
  SECTION 3.11. 

  	
  Disclosure

  	
   

  	
  47

  
	
  SECTION 3.12. 

  	
  Federal Reserve
  Regulations

  	
   

  	
  47

  
	
  SECTION 3.13. 

  	
  Liens

  	
   

  	
  47

  
	
  SECTION 3.14. 

  	
  No Default

  	
   

  	
  47

  
	
  SECTION 3.15. 

  	
  No Burdensome
  Restrictions

  	
   

  	
  47

  
	
  SECTION 3.16. 

  	
  Solvency.

  	
   

  	
  47

  
	
   

  	
   

  	
   

  
	
  ARTICLE IV Conditions

  	
   

  	
  48

  
	
   

  	
   

  	
   

  
	
  SECTION 4.01. 

  	
  Effective Date

  	
   

  	
  48

  
	
  SECTION 4.02. 

  	
  Each Credit Event

  	
   

  	
  50

  
	
  SECTION 4.03. 

  	
  Designation of a
  Foreign Subsidiary Borrower

  	
   

  	
  50

  
	
   

  	
   

  	
   

  
	
  ARTICLE V Affirmative
  Covenants

  	
   

  	
  51

  
	
   

  	
   

  	
   

  
	
  SECTION 5.01. 

  	
  Financial Statements
  and Other Information

  	
   

  	
  51

  
	
  SECTION 5.02. 

  	
  Notices of Material
  Events

  	
   

  	
  52

  
	
  SECTION 5.03. 

  	
  Existence; Conduct of
  Business

  	
   

  	
  53

  
	
  SECTION 5.04. 

  	
  Payment of Obligations

  	
   

  	
  53

  
	
  SECTION 5.05. 

  	
  Maintenance of
  Properties; Insurance

  	
   

  	
  53

  
	
  SECTION 5.06. 

  	
  Books and Records;
  Inspection Rights

  	
   

  	
  53

  
	
  SECTION 5.07. 

  	
  Compliance with Laws
  and Material Contractual Obligations

  	
   

  	
  54

  
	
  SECTION 5.08. 

  	
  Use of Proceeds

  	
   

  	
  54

  
	
  SECTION 5.09. 

  	
  Subsidiary Guaranty

  	
   

  	
  54

  
	
  SECTION 5.10. 

  	
  Pledge Agreements

  	
   

  	
  54

  
	
   

  	
   

  	
   

  
	
  ARTICLE VI Negative
  Covenants

  	
   

  	
  55

  
	
   

  	
   

  	
   

  
	
  SECTION 6.01. 

  	
  Indebtedness

  	
   

  	
  55

  
	
  SECTION 6.02. 

  	
  Liens

  	
   

  	
  57

  
	
  SECTION 6.03. 

  	
  Fundamental Changes and
  Asset Sales

  	
   

  	
  59

  
	
  SECTION 6.04. 

  	
  Investments, Loans,
  Advances, Guarantees and Acquisitions

  	
   

  	
  60

  
	
  SECTION 6.05. 

  	
  Swap Agreements

  	
   

  	
  61

  
	
  SECTION 6.06. 

  	
  Transactions with
  Affiliates

  	
   

  	
  61

  
	
  SECTION 6.07. 

  	
  Restricted Payments

  	
   

  	
  62

  
	
  SECTION 6.08. 

  	
  Restrictive Agreements

  	
   

  	
  62

  
	
  SECTION 6.09. 

  	
  Subordinated
  Indebtedness and Amendments to Subordinated Indebtedness Documents

  	
   

  	
  63

  
	
  SECTION 6.10. 

  	
  Financial Covenants.

  	
   

  	
  64

  

 

ii

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  ARTICLE VII Events of
  Default

  	
   

  	
  64

  
	
   

  	
   

  	
   

  
	
  ARTICLE VIII The
  Administrative Agent

  	
   

  	
  67

  
	
   

  	
   

  	
   

  
	
  ARTICLE IX
  Miscellaneous

  	
   

  	
  71

  
	
   

  	
   

  	
   

  
	
  SECTION 9.01. 

  	
  Notices

  	
   

  	
  71

  
	
  SECTION 9.02. 

  	
  Waivers; Amendments

  	
   

  	
  72

  
	
  SECTION 9.03. 

  	
  Expenses; Indemnity;
  Damage Waiver

  	
   

  	
  73

  
	
  SECTION 9.04. 

  	
  Successors and Assigns

  	
   

  	
  74

  
	
  SECTION 9.05. 

  	
  Survival

  	
   

  	
  77

  
	
  SECTION 9.06. 

  	
  Counterparts;
  Integration; Effectiveness

  	
   

  	
  77

  
	
  SECTION 9.07. 

  	
  Severability

  	
   

  	
  78

  
	
  SECTION 9.08. 

  	
  Right of Setoff

  	
   

  	
  78

  
	
  SECTION 9.09. 

  	
  Governing Law;
  Jurisdiction; Consent to Service of Process

  	
   

  	
  78

  
	
  SECTION 9.10. 

  	
  WAIVER OF JURY TRIAL

  	
   

  	
  79

  
	
  SECTION 9.11. 

  	
  Headings

  	
   

  	
  79

  
	
  SECTION 9.12. 

  	
  Confidentiality

  	
   

  	
  79

  
	
  SECTION 9.13. 

  	
  USA PATRIOT Act

  	
   

  	
  80

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  ARTICLE
  X

  	
   

  	
  81

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Cross-Guarantee

  	
   

  	
  81

  

 

iii

 

	
   

  	
  Page

  
	
   

  	
   

  
	
  SCHEDULES:

  	
   

  
	
   

  	
   

  
	
  Schedule 2.01

  	
  —

  	
  Commitments

  	
   

  
	
  Schedule 2.02

  	
  —

  	
  Mandatory Cost

  	
   

  
	
  Schedule 3.01

  	
  —

  	
  Subsidiaries

  	
   

  
	
  Schedule 3.03 

  	
  —

  	
  Governmental Approvals

  	
   

  
	
  Schedule 6.01

  	
  —

  	
  Existing Indebtedness

  	
   

  
	
  Schedule 6.02

  	
  —

  	
  Existing Liens

  	
   

  
	
   

  	
   

  
	
  EXHIBITS:

  	
   

  
	
  Exhibit A

  	
  —

  	
  Form of Assignment and
  Assumption

  	
   

  
	
  Exhibit B-1

  	
  —

  	
  Form of Opinion of Loan
  Parties’ Special U.S. Counsel

  	
   

  
	
  Exhibit B-2

  	
  —

  	
  Form of Opinion of Loan
  Parties’ Special Swiss Counsel

  	
   

  
	
  Exhibit B-3

  	
  —

  	
  Form of Opinion of Loan
  Parties’ Special German Counsel

  	
   

  
	
  Exhibit C

  	
  —

  	
  Form of Increasing Lender
  Supplement

  	
   

  
	
  Exhibit D

  	
  —

  	
  Form of Augmenting Lender
  Supplement

  	
   

  
	
  Exhibit E

  	
  —

  	
  List of Closing Documents

  	
   

  
	
  Exhibit F-1

  	
  —

  	
  Form of Borrowing
  Subsidiary Agreement

  	
   

  
	
  Exhibit F-2

  	
  —

  	
  Form of Borrowing
  Subsidiary Termination

  	
   

  
	
  Exhibit G

  	
  —

  	
  Form of Subsidiary
  Guaranty

  	
   

  
	
  Exhibit H

  	
  —

  	
  Form of Pledge Agreement

  	
   

  
	
  Exhibit I

  	
  —

  	
  Form of Compliance
  Certificate

  	
   

  
						

 

iv

 

CREDIT
AGREEMENT (this “Agreement”) dated as of February 26, 2008 among
BRUKER BIOSCIENCES CORPORATION (to be renamed BRUKER CORPORATION immediately following
the Transactions occurring on the Effective Date), BRUKER AXS GmbH, BRUKER
DALTONIK GmbH, BRUKER OPTIK GmbH, BRUKER PHYSIK GmbH, BRUKER BIOSPIN INVEST AG,
BRUKER BIOSPIN AG and BRUKER BIOSPIN INTERNATIONAL AG, the other FOREIGN
SUBSIDIARY BORROWERS from time to time party hereto, the LENDERS from time to
time party hereto, CITIBANK, N.A. as Syndication Agent and RBS CITIZENS,
NATIONAL ASSOCIATION, DEUTSCHE BANK SECURITIES INC. and DRESDNER BANK AG, NEW
YORK AND GRAND CAYMAN BRANCHES as Co-Documentation Agents and JPMORGAN CHASE
BANK, N.A., as Administrative Agent.

 

The
parties hereto agree as follows:

 

ARTICLE I

 

Definitions

 

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

 

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

 

“Adjusted
Covenant Requirement” means, with respect to the incurrence of any
Indebtedness and the making of any investment, acquisition or Restricted
Payment, the Company shall not permit, at the time thereof and after giving
effect thereto (on a pro forma basis), the Leverage Ratio to be greater than a
ratio equal to (x) the numerator of the maximum Leverage Ratio permitted
under Section 6.10(a) minus (y) 0.50.

 

“Adjusted
EURIBO Rate” means, if requested by the applicable Borrower, with respect
to any Eurocurrency Borrowing denominated in euro for any Interest Period, an
interest rate per annum (rounded upwards, if necessary, to the next 1/100 of
1%) equal to the sum of (i) (a) the EURIBO Rate for such Interest
Period multiplied by (b) the Statutory Reserve Rate plus, without
duplication, (ii) only in the case of Loans by a Lender from its office or
branch in the United Kingdom, the Mandatory Cost.

 

“Adjusted LIBO Rate”
means, with respect to any Eurocurrency Borrowing (unless the applicable
Borrower has requested that such Eurocurrency Borrowing denominated in euro
bear interest at the Adjusted EURIBO Rate) for any Interest Period, an interest
rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal
to the sum of (i) (a) the LIBO Rate for such Interest Period
multiplied by (b) the Statutory Reserve Rate plus, without duplication,
(ii) only in the case of Loans by a Lender from its office or branch in
the United Kingdom, the Mandatory Cost.

 

“Administrative Agent”
means JPMorgan Chase Bank, N.A. (including its branches and affiliates), in its
capacity as administrative agent for the Lenders hereunder.

 

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

 

“Affected
Foreign Subsidiary” means any Foreign Subsidiary to the extent such Foreign
Subsidiary acting as a Subsidiary Guarantor could cause a Deemed Dividend
Problem.

 

 

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

 

“Agreed Currencies” means (i) Dollars,
(ii) euro, (iii) Swiss Francs, (iv) Japanese Yen and (v) any
other Foreign Currency agreed to by the Administrative Agent and each of the
Revolving Lenders.

 

“Alternate Base Rate”
means, for any day, a rate per annum equal to the greater of (a) the Prime
Rate in effect on such day and (b) the Federal Funds Effective Rate in
effect on such day plus 1⁄2 of 1%.  Any
change in the Alternate Base Rate due to a change in the Prime Rate or the
Federal Funds Effective Rate shall be effective from and including the
effective date of such change in the Prime Rate or the Federal Funds Effective
Rate, respectively.

 

“Applicable
Pledge Percentage” means 100% but 65% in the case of a pledge by the
Company or any Domestic Subsidiary of its Equity Interests in an Affected
Foreign Subsidiary.

 

“Applicable Percentage”
means, with respect to any Lender, (a) with respect to Revolving Loans, LC
Exposure or Swingline Loans, the percentage equal to a fraction the numerator
of which is such Lender’s Revolving Commitment and the denominator of which is
the aggregate Revolving Commitments of all Revolving Lenders (if the Revolving
Commitments have terminated or expired, the Applicable Percentages shall be
determined based upon the Revolving Commitments most recently in effect, giving
effect to any assignments) and (b) with respect to the Term Loans, a
percentage equal to a fraction the numerator of which is such Lender’s
outstanding principal amount of the Term Loans and the denominator of which is
the aggregate outstanding amount of the Term Loans of all Term Lenders.

 

“Applicable Rate”
means, for any day, with respect to any Eurocurrency Revolving Loan, any
Eurocurrency Term Loans or with respect to the facility fees payable hereunder,
as the case may be, the applicable rate per annum set forth below under the
caption “Eurocurrency Spread for Revolving Loans”, “Eurocurrency Spread for
Term Loans” or “Facility Fee Rate”, as the case may be, based upon the Leverage
Ratio applicable on such date:

 

	
   

  	
   

  	
  Leverage Ratio:

  	
   

  	
  Eurocurrency

  Spread for

  Revolving Loans

  	
   

  	
  Eurocurrency

  Spread for Term

  Loans

  	
   

  	
  Facility Fee

  Rate

  	
   

  
	
  Category 1:

  	
   

  	
  < 1.00 to 1.00

  	
   

  	
  0.40

  	
  %

  	
  0.50

  	
  %

  	
  0.10

  	
  %

  
	
  Category 2:

  	
   

  	
  > 1.00 to 1.00 but < 1.50 to
  1.00

  	
   

  	
  0.50

  	
  %

  	
  0.625

  	
  %

  	
  0.125

  	
  %

  
	
  Category 3:

  	
   

  	
  > 1.50 to 1.00 but < 2.00 to
  1.00

  	
   

  	
  0.60

  	
  %

  	
  0.75

  	
  %

  	
  0.15

  	
  %

  
	
  Category 4:

  	
   

  	
  > 2.00 to 1.00 but < 2.50 to
  1.00

  	
   

  	
  0.825

  	
  %

  	
  1.00

  	
  %

  	
  0.175

  	
  %

  
	
  Category 5:

  	
   

  	
  > 2.50 to 1.00

  	
   

  	
  1.05

  	
  %

  	
  1.25

  	
  %

  	
  0.20

  	
  %

  

 

For purposes of the foregoing,

 

2

 

(i) if
at any time the Company fails to deliver the Financials on or before the date
the Financials are due pursuant to Section 5.01, Category 5 shall be
deemed applicable for the period commencing three (3) Business Days after
the required date of delivery and ending on the date which is three (3) Business
Days after the Financials are actually delivered, after which the Category
shall be determined in accordance with the table above as applicable;

 

(ii) adjustments,
if any, to the Category then in effect shall be effective three (3) Business
Days after the Administrative Agent has received the applicable Financials (it
being understood and agreed that each change in Category shall apply during the
period commencing on the effective date of such change and ending on the date
immediately preceding the effective date of the next such change); and

 

(iii) notwithstanding
the foregoing, Category 4 shall be deemed to be applicable until the
Administrative Agent’s receipt of the applicable Financials for the Company’s
second fiscal quarter ending after the Effective Date (unless such Financials
demonstrate that Category 5 should have been applicable during such period, in
which case Category 5 shall be deemed to be applicable during such period) and
adjustments to the Category then in effect shall thereafter be effected in
accordance with the preceding paragraphs.

 

“Approved Fund”
has the meaning assigned to such term in Section 9.04.

 

“Approximate Equivalent Amount” of any
currency with respect to any amount of Dollars shall mean the Equivalent Amount
of such currency with respect to such amount of Dollars on or as of such date,
rounded up to the nearest amount of such currency as determined by the
Administrative Agent from time to time.

 

“Assignment and
Assumption” means an assignment and assumption agreement
entered into by a Lender and an assignee (with the consent of any party whose
consent is required by Section 9.04), and accepted by the Administrative
Agent, in the form of Exhibit A or any other form approved by the
Administrative Agent.

 

“Augmenting
Lender” has the meaning assigned to such term in Section 2.20.

 

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

 

“Banking Services” means each and any of the
following bank services provided to the Company or any Subsidiary by any Lender
or any of its Affiliates: (a) commercial credit cards, (b) stored
value cards and (c) treasury management services (including, without
limitation, controlled disbursement, automated clearinghouse transactions,
return items, overdrafts and interstate depository network services).

 

“Banking
Services Agreement” means any agreement entered into by the Company or any
Subsidiary in connection with Banking Services.

 

“Banking Services Obligations” means any and all
obligations of the Company or any Subsidiary, whether absolute or contingent
and howsoever and whensoever created, arising, evidenced or acquired (including
all renewals, extensions and modifications thereof and substitutions therefor)
in connection with Banking Services.

 

“BioSpin
Acquisition” means the acquisition by the Company, directly or indirectly,
of all of all issued and outstanding Equity Interests of the Target.

 

3

 

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

 

“Borrower” means the Company or any Foreign
Subsidiary Borrower.

 

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

 

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

 

“Borrowing
Subsidiary Agreement” means a Borrowing Subsidiary Agreement substantially
in the form of Exhibit F-1.

 

“Borrowing
Subsidiary Termination” means a Borrowing Subsidiary Termination
substantially in the form of Exhibit F-2.

 

“Burdensome
Restrictions” means any consensual encumbrance or restriction of the type
described in clause (a) or (b) of Section 6.08 (without giving
effect to any exceptions described in clauses (i) through (iv) of
such Section 6.08).

 

“Business Day” means any day that is not a
Saturday, Sunday or other day on which commercial banks in New York City are
authorized or required by law to remain closed; provided that, when used
in connection with a Eurocurrency Loan, the term “Business
Day” shall also exclude any day on which banks are not open for
dealings in Agreed Currencies in the London interbank market or the principal
financial center of the country in which payment or purchase of such Agreed
Currency can be made (and, if the Borrowings or LC Disbursements which are the
subject of a borrowing, drawing, payment, reimbursement or rate selection are
denominated in euro, the term “Business Day” shall also exclude any day on
which the TARGET payment system is not open for the settlement of payments in
euro).

 

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

 

“Change in Control” means (a) the acquisition
of ownership, directly or indirectly, beneficially or of record, by any Person
or group (within the meaning of the Securities Exchange Act of 1934 and the rules of
the Securities and Exchange Commission thereunder as in effect on the date
hereof), of Equity Interests representing more than 35% of the aggregate
ordinary voting power represented by the issued and outstanding Equity
Interests of the Company; (b) occupation of a majority of the seats (other
than vacant seats) on the board of directors of the Company by Persons who were
neither (i) nominated by the board of directors of the Company nor (ii) appointed
by directors so nominated; (c) the acquisition of direct or indirect
Control of the Company by any Person or group; (d) the occurrence of a
change in control, or other similar provision, as defined in any agreement or
instrument evidencing any Material Indebtedness (triggering a default or
mandatory prepayment, which default or mandatory prepayment has not been waived
in writing); or (e) the Company ceases to own, directly or indirectly, and
Control 100% 

 

4

 

(other than directors’ qualifying shares) of the ordinary voting and
economic power of any Foreign Subsidiary Borrower.

 

“Change in Law” means (a) the adoption of any
law, rule or regulation after the date of this Agreement, (b) any
change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this
Agreement or (c) compliance by any Lender or the Issuing Bank (or, for
purposes of Section 2.15(b), by any lending office of such Lender or by
such Lender’s or the Issuing Bank’s holding company, if any) with any request,
guideline or directive (whether or not having the force of law) of any
Governmental Authority made or issued after the date of this Agreement.

 

“Class”, when used in reference to any Loan or
Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing,
are Revolving Loans, Term Loans or Swingline Loans.

 

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

 

“Co-Documentation Agent” means each of RBS
Citizens, National Association, Deutsche Bank Securities Inc. and Dresdner Bank
AG, New York and Grand Cayman Branches in its capacity as co-documentation
agent for the credit facility evidenced by this Agreement.

 

“Commitment” means, with respect to each Lender,
the sum of such Lender’s Revolving Commitment and Term Loan Commitment.  The initial amount of each Lender’s
Commitment is set forth on Schedule 2.01, or in the Assignment and Assumption
or other documentation contemplated hereby pursuant to which such Lender shall
have assumed its Commitment, as applicable.

 

“Company”
means Bruker BioSciences Corporation (to be renamed Bruker Corporation
immediately following the Transactions occurring on the Effective Date), a
Delaware corporation.

 

“Computation
Date” is defined in Section 2.04.

 

“Consolidated
EBIT” means Consolidated EBITDA minus any amounts added to
Consolidated EBITDA with respect to (i) depreciation (including
depreciation of demonstration equipment) and (ii) amortization.

 

“Consolidated EBITDA” means Consolidated Net
Income plus, to the extent
deducted from revenues in determining Consolidated Net Income, (i) Consolidated
Interest Expense, (ii) expense for taxes paid or accrued, (iii) depreciation
(including write down to net realizable value of demonstration equipment), (iv) amortization,
(v) extraordinary non-cash losses incurred other than in the ordinary
course of business, (vi) non-recurring fees and expenses incurred in
connection with the BioSpin Acquisition, (vii) non-cash expenses resulting
from the grant of stock options or other equity-related incentives to any
director, officer or employee of, or consultant to, the Company or any
Subsidiary pursuant to a written plan or agreement approved by the board of
directors of the Company, (viii) non-cash exchange, translation or
performance losses relating to any foreign currency hedging transactions or
currency fluctuations, (ix) all other non-cash charges, non-cash expenses
and non-cash losses of the Company or any Subsidiary that are not otherwise
expressly excluded from the calculation of Consolidated EBITDA pursuant hereto
(and excluding (A) any non-cash charge, non-cash expense and non-cash loss
that represents an accrual or reserve for a cash expenditure to be made in a
subsequent period and (B) minority interest expense), minus, to the extent included in
Consolidated Net Income, (x) interest income, (xi) extraordinary gains
realized other than in the ordinary course of business and (xii) non-cash
exchange, translation or performance gains relating to any foreign currency
hedging transactions or currency fluctuations, all calculated for the Company
and its Subsidiaries in accordance with GAAP on a 

 

5

 

consolidated basis.  For the
purposes of calculating Consolidated EBITDA for any period of four consecutive
fiscal quarters (each, a “Reference Period”), (i) if at any time
during such Reference Period the Company or any Subsidiary shall have made any
Material Disposition, the Consolidated EBITDA for such Reference Period shall
be reduced by an amount equal to the Consolidated EBITDA (if positive)
attributable to the property that is the subject of such Material Disposition for
such Reference Period or increased by an amount equal to the Consolidated
EBITDA (if negative) attributable thereto for such Reference Period, and (ii) if
during such Reference Period the Company or any Subsidiary shall have made a
Material Acquisition, Consolidated EBITDA for such Reference Period shall be
calculated after giving pro forma effect thereto as if such Material
Acquisition occurred on the first day of such Reference Period.  As used in this definition, “Material
Acquisition” means any acquisition of property or series of related
acquisitions of property that (a) constitutes (i) assets comprising
all or substantially all or any significant portion of a business or operating
unit of a business, or (ii) all or substantially all of the common stock
or other Equity Interests of a Person, and (b) involves the payment of
consideration by the Company and its Subsidiaries in excess of $10,000,000; and
“Material Disposition” means any sale, transfer or disposition of
property or series of related sales, transfers, or dispositions of property
that yields gross proceeds to the Company or any of its Subsidiaries in excess
of $10,000,000.

 

“Consolidated Interest Expense” means, with
reference to any period, the interest expense (including without limitation interest
expense under Capital Lease Obligations that is treated as interest in
accordance with GAAP) of the Company and its Subsidiaries calculated on a
consolidated basis for such period with respect to all outstanding Indebtedness
of the Company and its Subsidiaries allocable to such period in accordance with
GAAP (including, without limitation, all commissions, discounts and other fees
and charges owed with respect to letters of credit and bankers acceptance
financing and net costs under interest rate Swap Agreements to the extent such
net costs are allocable to such period in accordance with GAAP).

 

“Consolidated Net Income” means, with reference to
any period, the net income (or loss) of the Company and its Subsidiaries
calculated in accordance with GAAP on a consolidated basis (without
duplication) for such period.

 

“Consolidated Total Assets” means, as of the date
of any determination thereof, total assets of the Company and its Subsidiaries
calculated in accordance with GAAP on a consolidated basis as of such date.

 

“Consolidated
Total Indebtedness” means at any time the sum, without duplication, of (a) the
aggregate Indebtedness of the Company and its Subsidiaries calculated on a
consolidated basis as of such time in accordance with GAAP (excluding the
aggregate amount of Indebtedness of the Company and its Subsidiaries relating
to the undrawn and unreimbursed amount of all letters of credit outstanding)
and (b) Indebtedness of the type referred to in clause (a) hereof of
another Person guaranteed by the Company or any of its Subsidiaries.

 

“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.

 

“Country Risk Event”  means:

 

(i)                                     any law, action or failure to act by any
Governmental Authority in any Borrower’s or Letter of Credit beneficiary’s
country which has the effect of:

 

6

 

(a)                                  changing the obligations under the relevant
Letter of Credit, the Credit Agreement or any of the other Loan Documents as
originally agreed or otherwise creating any additional liability, cost or expense
to the Issuing Bank, the Lenders or the Administrative Agent,

 

(b)                                 changing the ownership or control by such
Borrower or Letter of Credit beneficiary of its business, or

 

(c)                                  preventing or restricting the conversion into
or transfer of the applicable Agreed Currency;

 

(ii)                                force majeure; or

 

(iii)                             any similar event

 

which,
in relation to (i), (ii) and (iii), directly or indirectly, prevents or
restricts the payment or transfer of any amounts owing under the relevant
Letter of Credit in the applicable Agreed Currency into an account designated
by the Administrative Agent or the Issuing Bank and freely available to the
Administrative Agent or the Issuing Bank.

 

“Credit
Event” means a Borrowing, the issuance of a Letter of Credit, an LC
Disbursement or any of the foregoing.

 

“Credit
Exposure” means, as to any Lender at any time, the sum of (a) such
Lender’s Revolving Credit Exposure at such time, plus (b) an amount equal
to the aggregate principal amount of its Term Loans outstanding at such time.

 

“Deemed Dividend Problem” means, with respect to
any Foreign Subsidiary, that any current or accumulated and undistributed
earnings and profits of such Foreign Subsidiary would be deemed to be
repatriated to the Company or the applicable parent Domestic Subsidiary under Section 956
of the Code, regardless of whether such Foreign Subsidiary has any current or
accumulated and undistributed earnings and profits at the time of making such
determination.

 

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

 

“Dollar Amount” of any currency at any date
shall mean (i) the amount of such currency if such currency is Dollars or (ii) the
equivalent in such currency of Dollars if such currency is a Foreign Currency,
calculated on the basis of the Exchange Rate for such currency, on or as of the
most recent Computation Date provided for in Section 2.04.

 

“Dollars” or “$”
refers to lawful money of the United States of America.

 

“Domestic Subsidiary” means a Subsidiary organized
under the laws of a jurisdiction located in the United States of America.

 

“Effective Date” means the date on which the
conditions specified in Section 4.01 are satisfied (or waived in
accordance with Section 9.02).

 

“Eligible
Foreign Subsidiary” means any Foreign Subsidiary that is approved from time
to time by the Administrative Agent (such approval not to be unreasonably
withheld).

 

7

 

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

 

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

 

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

 

“Equivalent Amount” of any currency with
respect to any amount of Dollars at any date shall mean the equivalent in such
currency of such amount of Dollars, calculated on the basis of the arithmetical
mean of the buy and sell spot rates of exchange of the Administrative Agent for
such other currency at 11:00 a.m., London time, on the date on or as of
which such amount is to be determined.

 

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

 

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

 

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

 

“EU” means the European Union.

 

8

 

“EURIBO Rate” means, with respect to any
Eurocurrency Revolving Borrowing denominated in euro for any Interest Period,
if requested by the applicable
Borrower, the rate appearing on the appropriate page of the Reuters service
(it being understood that this rate is the euro interbank offered rate
sponsored by the Banking Federation of the European Union and the Financial
Markets Association) (or on any successor or substitute page of such
service, or any successor to or substitute for such service providing rate
quotations comparable to those currently provided on such page of such
service, as determined by the Administrative Agent from time to time for
purposes of providing quotations of interest rates applicable to deposits in
euro in the London interbank market) at approximately 11:00 a.m., Local
Time, two (2) Business Days prior to the commencement of such Interest
Period, as the rate for deposits in euro with a maturity comparable to such
Interest Period.  In the event that such
rate is not available at such time for any reason, then the “EURIBO Rate” with
respect to such Eurocurrency Borrowing for such Interest Period shall be the
rate at which deposits in euro in an Equivalent Amount of $5,000,000 and for a
maturity comparable to such Interest Period are offered by the principal London
office of the Administrative Agent in immediately available funds in the London
interbank market at approximately 11:00 a.m., Local Time, two (2) Business
Days prior to the commencement of such Interest Period.

 

“euro” and/or “EUR” means the single
currency of the participating member states of the EU.

 

“Eurocurrency”, when used in reference to a
currency means an Agreed Currency and when used in reference to any Loan or
Borrowing, means that such Loan, or the Loans comprising such Borrowing, bears
interest at a rate determined by reference to the Adjusted LIBO Rate or, upon
request by the applicable Borrower, the Adjusted EURIBO Rate, as applicable.

 

“Eurocurrency
Payment Office” of the Administrative Agent shall mean, for each Foreign
Currency, the office, branch, affiliate or correspondent bank of the
Administrative Agent for such currency as specified from time to time by the
Administrative Agent to the Company and each Revolving Lender.

 

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

 

“Exchange
Rate” means, on any day, with respect to any Foreign Currency, the rate at
which such Foreign Currency may be exchanged into Dollars, as set forth at
approximately 11:00 a.m., Local Time, on such date on the Reuters World
Currency Page for such Foreign Currency.  
In the event that such rate does not appear on any Reuters World
Currency Page, the Exchange Rate with respect to such Foreign Currency shall be
determined by reference to such other publicly available service for displaying
exchange rates as may be reasonably selected by the Administrative Agent or, in
the event no such service is selected, such Exchange Rate shall instead be
calculated on the basis of the arithmetical mean of the buy and sell spot rates
of exchange of the Administrative Agent for such Foreign Currency on the London
market at 11:00 a.m., Local Time, on such date for the purchase of Dollars
with such Foreign Currency, for delivery two Business Days later; provided,
that if at the time of any such determination, for any reason, no such spot
rate is being quoted, the Administrative Agent, after consultation with the
Company, may use any reasonable method it deems appropriate to determine such
rate, and such determination shall be conclusive absent manifest error.

 

“Excluded Taxes” means, with respect to the
Administrative Agent, any Lender, the Issuing Bank or any other recipient of
any payment to be made by or on account of any obligation of the Borrowers
hereunder, (a) income or franchise taxes imposed on (or measured by) its
net income  by the United States of
America, or by the jurisdiction under the laws of which such 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 or with which such
recipient otherwise has a present or former connection (other than any such 

 

9

 

connection arising from the recipient’s having executed, delivered,
performed its obligations under, received a payment under or enforced any Loan
Document), (b) any branch profits taxes imposed by the United States of
America or any similar tax imposed by any other jurisdiction in which the
Company is located and (c) in the case of a Foreign Lender (other than an
assignee pursuant to a request by the Company under Section 2.19(b)), any
withholding tax that is imposed on amounts payable to such Foreign Lender at
the time such Foreign Lender becomes a party to this Agreement (or designates a
new lending office) or is attributable to such Foreign Lender’s failure to
comply with Section 2.17(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 Company
with respect to such withholding tax pursuant to Section 2.17(a).

 

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

 

“Financial Officer” means the chief financial
officer, principal accounting officer, treasurer or controller of the Company.

 

“Financials”
means the annual or quarterly financial statements, and accompanying certificates
and other documents, of the Company and its Subsidiaries required to be
delivered pursuant to Section 5.01(a) or 5.01(b).

 

“Foreign
Currencies” means Agreed Currencies other than Dollars.

 

“Foreign Currency LC Exposure” means, at any
time, the sum of (a) the Dollar Amount of the aggregate undrawn and
unexpired amount of all outstanding Foreign Currency Letters of Credit at such
time plus (b) the aggregate principal Dollar Amount of all LC
Disbursements in respect of Foreign Currency Letters of Credit that have not
yet been reimbursed at such time.

 

“Foreign Currency Letter of Credit” means a
Letter of Credit denominated in a Foreign Currency.

 

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

 

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

 

“Foreign
Subsidiary Borrower” means (i) each of Bruker AXS GmbH, Bruker
Daltonik GmbH, Bruker Optik GmbH and Bruker Physik GmbH, each incorporated in
Germany as a limited liability company and Bruker BioSpin Invest AG, Bruker
BioSpin AG and Bruker BioSpin International AG, each incorporated in
Switzerland as a corporation limited by shares and (ii) any Eligible
Foreign Subsidiary that becomes a Foreign Subsidiary Borrower pursuant to Section 2.23
and, in each case, that has not ceased to be a Foreign Subsidiary Borrower
pursuant to such Section.

 

10

 

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

 

“German
Borrower” means any Foreign Subsidiary Borrower that is organized under the
laws of Germany.

 

“German
GmbH Obligor” means any Foreign Subsidiary Borrower or Subsidiary Guarantor
that is incorporated in Germany as a German limited liability company (GmbH).

 

“German
Subsidiary” means any Subsidiary that is organized under the laws of
Germany.

 

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

 

“Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or
otherwise, of the guarantor guaranteeing or having the economic effect of
guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether directly
or indirectly, and including any obligation of the guarantor, direct or
indirect, (a) to purchase or pay (or advance or supply funds for the
purchase or payment of) such Indebtedness or other obligation or to purchase
(or to advance or supply funds for the purchase of) any security for the
payment thereof, (b) to purchase or lease property, securities or services
for the purpose of assuring the owner of such Indebtedness or other obligation
of the payment thereof, (c) to maintain working capital, equity capital or
any other financial statement condition or liquidity of the primary obligor so
as to enable the primary obligor to pay such Indebtedness or other obligation
or (d) as an account party in respect of any letter of credit or letter of
guaranty issued to support such Indebtedness or obligation; provided, that the term Guarantee shall not
include endorsements for collection or deposit in the ordinary course of
business or customary and reasonable indemnity obligations (other than
obligations with respect to Indebtedness). 
The amount of any Guarantee shall be deemed to be the lower of (i) an
amount equal to the stated or determinable amount of the primary obligation in
respect of which such Guarantee is made and (ii) the maximum amount for
which such guaranteeing Person may be liable pursuant to the terms of the
instrument embodying such Guarantee, or, if such Guarantee is not an
unconditional guarantee of the entire amount of the primary obligation and such
maximum amount is not stated or determinable, the amount of such guaranteeing
Person’s maximum reasonably anticipated liability in respect thereof as
determined by such Person in good faith.

 

“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.

 

“Increasing
Lender” has the meaning assigned to such term in Section 2.20.

 

“Incremental
Term Loan” has the meaning assigned to such term in Section 2.20.

 

“Incremental
Term Loan Amendment” has the meaning assigned to such term in Section 2.20.

 

“Indebtedness” of any Person means, without
duplication, (a) all obligations of such Person for borrowed money, (b) all
obligations of such Person evidenced by bonds, debentures, notes or 

 

11

 

similar instruments, (c) all obligations of such Person upon which
interest charges are customarily paid, (d) all obligations of such Person
under conditional sale or other title retention agreements relating to property
acquired by such Person, (e) all obligations of such Person in respect of
the deferred purchase price of property or services (excluding accounts payable
and intercompany charges of expenses (including expenses related to research
and development and intellectual technology) and other accrued obligations, in
each case incurred in the ordinary course of business), (f) all
Indebtedness of others secured by (or for which the holder of such Indebtedness
has an existing right, contingent or otherwise, to be secured by) any Lien on
property owned or acquired by such Person, whether or not the Indebtedness
secured thereby has been assumed, (g) all Guarantees by such Person of
Indebtedness of others, (h) all Capital Lease Obligations of such Person, (i) all
obligations, contingent or otherwise, of such Person as an account party in
respect of letters of credit and letters of guaranty, (j) all obligations,
contingent or otherwise, of such Person in respect of bankers’ acceptances and (k) obligations
of such Person under Sale and Leaseback Transactions.  The Indebtedness of any Person shall include
the Indebtedness of any other entity (including any partnership in which such
Person is a general partner) to the extent such Person is liable therefor as a
result of such Person’s ownership interest in or other relationship with such
entity, except to the extent the terms of such Indebtedness provide that such
Person is not liable therefor. 
Notwithstanding anything to the contrary in the foregoing, in connection
with any Permitted Acquisition or any other acquisition by the Company or any
Subsidiary permitted hereunder (or any sale, transfer or other disposition by
the Company or any Subsidiary permitted hereunder), the term “Indebtedness”
shall not include contingent post-closing purchase price adjustments or
earn-outs to which the seller in such Permitted Acquisition or such other
acquisition (or the buyer in such sale, transfer or other disposition, as the
case may be) may become entitled or contingent indemnity obligations that may
be owed to such seller (or buyer, if applicable) in respect thereof.  The amount of Indebtedness of any Person for
purposes of clause (f) above shall (unless such Indebtedness has been
assumed by such Person) be deemed to be equal to the lesser of (i) the
aggregate unpaid amount of such Indebtedness and (ii) the fair market
value of the property encumbered thereby as determined by such Person in good
faith.

 

“Indemnified Taxes” means Taxes other than
Excluded Taxes.

 

“Information Memorandum” means the Confidential
Information Memorandum dated December 2007 relating to the Company and the
Transactions.

 

“Interest
Coverage Ratio” has the meaning assigned to such term in Section 6.10(b).

 

“Interest Election Request” means a request by the
applicable Borrower to convert or continue a Borrowing in accordance with Section 2.08.

 

“Interest Payment Date” means (a) with
respect to any ABR Loan (other than a Swingline Loan), the last day of each
March, June, September and December and the Maturity Date, (b) with
respect to any Eurocurrency Loan, the last day of the Interest Period
applicable to the Borrowing of which such Loan is a part and, in the case of a
Eurocurrency Borrowing with an Interest Period of more than three months’
duration, each day prior to the last day of such Interest Period that occurs at
intervals of three months’ duration after the first day of such Interest Period
and the Maturity Date and (c) with respect to any Swingline Loan, the day
that such Loan is required to be repaid and the Maturity Date.

 

“Interest Period” means with respect to any
Eurocurrency Borrowing, the period commencing on the date of such Borrowing and
ending on the numerically corresponding day in the calendar month that is one,
two, three or six months thereafter, as the applicable Borrower (or the Company
on behalf of the applicable Borrower) may elect; provided, that (i) if
any Interest Period would end on a day other than a Business Day, such Interest
Period shall be extended to the next succeeding Business Day unless, in the
case of a Eurocurrency Borrowing only, such next succeeding Business Day 

 

12

 

would fall in the next calendar month, in which case such Interest
Period shall end on the next preceding Business Day and (ii) any Interest
Period pertaining to a Eurocurrency Borrowing that commences on the last
Business Day of a calendar month (or on a day for which there is no numerically
corresponding day in the last calendar month of such Interest Period) shall end
on the last Business Day of the last calendar month of such Interest Period.  For purposes hereof, the date of a Borrowing
initially shall be the date on which such Borrowing is made and, in the case of
a Revolving Borrowing, thereafter shall be the effective date of the most
recent conversion or continuation of such Borrowing.

 

“Issuing Bank” means JPMorgan Chase Bank, N.A., in
its capacity as the issuer of Letters of Credit hereunder, and its successors
in such capacity as provided in Section 2.06(i).  The Issuing Bank may, in its discretion,
arrange for one or more Letters of Credit to be issued by Affiliates of the
Issuing Bank, in which case the term “Issuing Bank” shall include any such
Affiliate with respect to Letters of Credit issued by such Affiliate.

 

“Japanese
Yen” means the lawful currency of Japan.

 

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

 

“LC Exposure” means, at any time, the sum of (a) the
aggregate undrawn Dollar Amount of all outstanding Letters of Credit at such
time plus (b) the aggregate Dollar Amount of all LC Disbursements that
have not yet been reimbursed by or on behalf of the Company at such time.  The LC Exposure of any Revolving Lender at
any time shall be its Applicable Percentage of the total LC Exposure at such
time.

 

“Lenders” means the Persons listed on Schedule
2.01 and any other Person that shall have become a Lender hereunder
pursuant to Section 2.20 or pursuant to an Assignment and Assumption,
other than any such Person that ceases to be a party hereto pursuant to an
Assignment and Assumption.  Unless the context
otherwise requires, the term “Lenders” includes the Swingline Lender.

 

“Letter of Credit” means any letter of credit
issued pursuant to this Agreement.

 

“Leverage
Ratio” has the meaning assigned to such term in Section 6.10(a).

 

“LIBO Rate” means, with respect to any
Eurocurrency Borrowing (unless the applicable Borrower has requested that such
Eurocurrency Borrowing denominated in euro bear interest at the Adjusted EURIBO
Rate) for any Interest Period, the rate appearing on, in the case of Dollars, Reuters
BBA Libor Rates Page 3750 and, in the case of any Foreign Currency, the
appropriate page of such service which displays British Bankers
Association Interest Settlement Rates for deposits in such Foreign Currency
(or, in each case, on any successor or substitute page of such service, or
any successor to or substitute for such service, providing rate quotations
comparable to those currently provided on such page of such service, as
determined by the Administrative Agent from time to time for purposes of
providing quotations of interest rates applicable to deposits in the relevant
Agreed Currency in the London interbank market) at approximately 11:00 a.m.,
London time, two (2) Business Days prior to the commencement of such
Interest Period, as the rate for deposits in the relevant Agreed Currency with
a maturity comparable to such Interest Period. 
In the event that such rate is not available at such time for any
reason, then the “LIBO Rate” with respect
to such Eurocurrency Borrowing for such Interest Period shall be the rate at
which deposits in the relevant Agreed Currency in an Equivalent Amount of
$5,000,000 and for a maturity comparable to such Interest Period are offered by
the principal London office of the Administrative Agent in immediately available
funds in the London interbank market at approximately 11:00 a.m., London
time, two (2) Business Days prior to the commencement of such Interest
Period.

 

13

 

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

 

“Loan Documents” means this Agreement, each
Borrowing Subsidiary Agreement, each Borrowing Subsidiary Termination, the
Subsidiary Guaranty, the Pledge Agreements, any promissory notes executed and
delivered pursuant to Section 2.10(e) and any and all other
instruments and documents executed and delivered in connection with any of the
foregoing.

 

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

 

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

 

“Local
Time” means (i) New York City time in the case of a Loan, Borrowing or
LC Disbursement denominated in Dollars to, or for the account of, the Company
and (ii) local time at the place of the relevant Loan, Borrowing or LC
Disbursement (or such earlier local time as is necessary for the relevant funds
to be received and transferred to the Administrative Agent for same day value
on the date the relevant reimbursement obligation is due) in the case of a
Loan, Borrowing or LC Disbursement which is denominated in a Foreign Currency
or which is to, or for the account of, a Foreign Subsidiary Borrower; provided
that, in case of Eurocurrency Revolving Loans denominated in euro and bearing
interest with reference to the Adjusted EURIBO Rate, “Local Time” means
Brussels time.

 

“Mandatory
Cost” is described in Schedule 2.02.

 

“Material Adverse Effect” means a material adverse
effect on (a) the business, assets, property, condition (financial or
otherwise) or prospects of the Company and the Subsidiaries taken as a whole or
(b) the validity or enforceability of this Agreement or any and all other
Loan Documents or the rights or remedies of the Administrative Agent and the
Lenders thereunder.

 

“Material Indebtedness” means any Indebtedness
(other than the Loans and Letters of Credit), or obligations in respect of one
or more Swap Agreements, of any one or more of the Company and its Subsidiaries
in an aggregate principal amount exceeding $15,000,000.  For purposes of determining Material Indebtedness,
the “principal amount” of the obligations of the Company or any Subsidiary in
respect of any Swap Agreement at any time shall be the maximum aggregate amount
(giving effect to any netting agreements) that the Company or such Subsidiary
would be required to pay if such Swap Agreement were terminated at such time.

 

“Material Subsidiary” means each Subsidiary (i) which,
as of the most recent fiscal quarter of the Company, for the period of four
consecutive fiscal quarters then ended, for which financial statements have
been delivered pursuant to Section 5.01, contributed greater than ten
percent (10%) of the Company’s Consolidated EBITDA for such period or (ii) which
contributed greater than ten percent (10%) of the Company’s Consolidated Total
Assets as of such date; provided that, if at any time the aggregate
amount of the Company’s Consolidated EBITDA or Company’s Consolidated Total
Assets attributable to Subsidiaries (other than Affected Foreign Subsidiaries)
that are not Subsidiary Guarantors exceeds twenty-five percent (25%) of the Company’s
Consolidated EBITDA for any such period or twenty-five percent (25%) of the
Company’s Consolidated Total Assets as of the end of any such fiscal quarter,
the Company (or, in the event the Company has failed to do so within ten days,
the 

 

14

 

Administrative Agent) shall designate sufficient Subsidiaries (other
than Affected Foreign Subsidiaries) as “Material Subsidiaries” to eliminate
such excess, and such designated Subsidiaries shall for all purposes of this
Agreement constitute Material Subsidiaries.

 

“Maturity Date” means February 26, 2013.

 

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

 

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

 

“New
Money Credit Event” means with respect to the Issuing Bank, any increase
(directly or indirectly) in the Issuing Bank’s exposure (whether by way of
additional credit or banking facilities or otherwise, including as part of a
restructuring) to any Borrower or any Governmental Authority in any Borrower’s
or any applicable Letter of Credit beneficiary’s country occurring by reason of
(i) any law, action or requirement of any Governmental Authority in such
Borrower’s or such Letter of Credit beneficiary’s country, or (ii) any
request in respect of external indebtedness of borrowers in such Borrower’s or
such Letter of Credit beneficiary’s country applicable to banks generally which
conduct business with such borrowers, or (iii) any agreement in relation
to clause (i) or (ii), in each case to the extent calculated by reference
to the aggregate Revolving Credit Exposures outstanding prior to such increase.

 

“Obligations”
means all indebtedness (including interest accruing during the pendency of any
bankruptcy, insolvency, receivership or other similar proceeding, regardless of
whether allowed or allowable in such proceeding), obligations and liabilities
of any of the Company and its Subsidiaries to any of the Lenders and the
Administrative Agent, individually or collectively, existing on the Effective
Date or arising thereafter, direct or indirect, joint or several, absolute or
contingent, matured or unmatured, liquidated or unliquidated, secured or
unsecured, arising by contract, operation of law or otherwise, arising or
incurred under this Credit Agreement or any of the other Loan Documents or to
the Lenders or any of their Affiliates under any Swap Agreement or any Banking
Services Agreement or in respect of any of the Loans made or reimbursement or
other obligations incurred or any of the Letters of Credit or other instruments
at any time evidencing any thereof.

 

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

 

“Overnight
Foreign Currency Rate” means, for any amount payable in a Foreign Currency,
the rate of interest per annum as determined by the Administrative Agent at
which overnight or weekend deposits in the relevant currency (or if such amount
due remains unpaid for more than three (3) Business Days, then for such
other period of time as the Administrative Agent may elect) for delivery in
immediately available and freely transferable funds would be offered by the
Administrative Agent to major banks in the interbank market upon request of
such major banks for the relevant currency as determined above and in an amount
comparable to the unpaid principal amount of the related Credit Event, plus any
taxes, levies, imposts, duties, deductions, charges or withholdings imposed
upon, or charged to, the Administrative Agent by any relevant correspondent
bank in respect of such amount in such relevant currency.

 

“Participant” has the meaning set forth in Section 9.04.

 

15

 

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

 

“Permitted
Acquisition” means any acquisition (whether by purchase, merger,
consolidation or otherwise) or series of related acquisitions by the Company or
any Subsidiary of (i) all or substantially all the assets of or (ii) all
or substantially all the Equity Interests in, a Person or division or line of
business of a Person, if, at the time of and immediately after giving effect
thereto, (a) no Default has occurred and is continuing or would arise
after giving effect thereto, (b) such Person or division or line of
business is engaged in the same or a similar line of business as the Company
and the Subsidiaries or business reasonably related thereto, (c) all
actions required to be taken with respect to such acquired or newly formed
Subsidiary under Sections 5.09 and 5.10 shall have been taken, (d) the
Company and the Subsidiaries are in compliance, on a pro forma basis reasonably
acceptable to the Administrative Agent after giving effect to such acquisition
(but without giving effect to any synergies or cost savings), with the
covenants contained in Section 6.10 recomputed as of the last day of the
most recently ended fiscal quarter of the Company for which financial
statements are available, as if such acquisition (and any related incurrence or
repayment of Indebtedness, with any new Indebtedness being deemed to be
amortized over the applicable testing period in accordance with its terms) had
occurred on the first day of each relevant period for testing such compliance
and, if the aggregate consideration paid in respect of such acquisition exceeds
$20,000,000, the Company shall have delivered to the Administrative Agent a
certificate of a Financial Officer of the Company to such effect, together with
all relevant financial information, statements and projections requested by the
Administrative Agent, (e) in the case of an acquisition or merger
involving the Company or a Subsidiary, the Company or such Subsidiary is the
surviving entity of such merger and/or consolidation and (f) the aggregate
consideration paid in respect of such acquisition, when taken together with the
aggregate consideration (including any post-closing purchase price adjustments
or earn-out obligations) paid in respect of all other acquisitions, does not
exceed $50,000,000 during any fiscal year of the Company; provided that
no such Dollar limitation shall apply if the Company has complied, and remains
in compliance, with the Adjusted Covenant Requirement.

 

“Permitted
Encumbrances” means:

 

(a)  Liens imposed by
law for taxes, assessments or other governmental charges or levies that are (i) not
yet due or are being contested in compliance with Section 5.04, (ii) not
yet delinquent for a period of more than 30 days, or (iii) for property
taxes on property that the Company or any Subsidiary has determined to abandon
if the sole recourse for such property tax is to such property;

 

(b)  landlords’,
carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, craftsmen’s
and other like Liens imposed by law, arising in the ordinary course of business
and securing obligations that are not overdue by more than thirty (30) days
(or, if more than 30 days overdue, are unfiled and no other action has been
taken to enforce such Lien) or are being contested in compliance with Section 5.04;

 

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

 

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

 

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

 

16

 

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

 

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

 

“Permitted
Investments” means:

 

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

 

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

 

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

 

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

 

(e)  money market funds
that (i) comply with the criteria set forth in Securities and Exchange Commission
Rule 2a-7 under the Investment Company Act of 1940, (ii) are rated
AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at
least $5,000,000,000; and

 

(f)  other investments
made in accordance with the Company’s investment policy as disclosed to the
Administrative Agent prior to the Effective Date and with such amendments or
modifications thereto as are from time to time approved by the Administrative
Agent.

 

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

 

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

 

“Pledge Agreements”
means that certain Pledge Agreement dated as of the Effective Date in the form
of Exhibit H (including any and all supplements thereto) and
executed by the relevant Loan Parties, and, in the case of any pledge of Equity
Interests of a Pledge Subsidiary which is a Foreign Subsidiary, any other
pledge agreements, share mortgages, charges and comparable instruments and
documents from time to time executed pursuant to the terms of Section 5.10
in favor of the Administrative Agent for the benefit of the Secured Parties as amended, restated, supplemented or
otherwise modified from time to time.

 

17

 

“Pledged Equity” means all pledged Equity Interests in or upon
which a security interest or Lien is from time to time granted to the Administrative
Agent, for the benefit of the Secured Parties, under the Pledge Agreements.

 

“Pledge Subsidiary” means each (i) Domestic Subsidiary
(other than a Domestic Subsidiary which is a Subsidiary of a Foreign
Subsidiary) and (ii) each Material Subsidiary which is a Foreign
Subsidiary.

 

“Prime
Rate” means the rate of interest per annum publicly announced from
time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its
principal office in New York City; each change in the Prime Rate shall be
effective from and including the date such change is publicly announced as
being effective.

 

“Register”
has the meaning set forth in Section 9.04.

 

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

 

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

 

“Restricted Payment”
means any dividend or other distribution (whether in cash, securities or other
property) with respect to any Equity Interests in the Company or any
Subsidiary, or any payment (whether in cash, securities or other property),
including any sinking fund or similar deposit, on account of the purchase,
redemption, retirement, acquisition, cancellation or termination of any such
Equity Interests in the Company or any option, warrant or other right to
acquire any such Equity Interests in the Company.

 

“Revolving Commitment”
means, with respect to each Lender, the commitment, if any, to make Revolving
Loans and to acquire participations in Letters of Credit and Swingline Loans
hereunder, expressed as an amount representing the maximum aggregate amount of
such Lender’s Revolving Credit Exposure hereunder, as such commitment may be (a) reduced
or terminated from time to time pursuant to Section 2.09, (b) increased
from time to time pursuant to Section 2.20 and (c) reduced or
increased from time to time pursuant to assignments by or to such Lender
pursuant to Section 9.04.  The
initial aggregate amount of the Lenders’ Revolving Commitments is $230,000,000.

 

“Revolving
Credit Exposure” means, with respect to any Lender at any time, the
sum of the outstanding principal amount of such Lender’s Revolving Loans and
its LC Exposure and Swingline Exposure at such time.

 

“Revolving Lender”
means, as of any date of determination, each Lender that has a Revolving Commitment
or, if the Revolving Commitments have terminated or expired, each Lender with
Revolving Credit Exposure.

 

“Revolving
Loan” means a Loan made pursuant to Section 2.01(a).

 

“S&P”
means Standard & Poor’s.

 

18

 

“Sale and Leaseback
Transaction” means any sale or other transfer of any property or asset by
any Person with the intent to lease such property or asset as lessee.

 

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

 

“Secured Parties” means the holders of the
Obligations from time to time and shall include (i) each Lender and the
Issuing Bank in respect of its Loans and LC Exposure respectively, (ii) the
Administrative Agent, the Issuing Bank and the Lenders in respect of all other
present and future obligations and liabilities of the Company and each
Subsidiary of every type and description arising under or in connection with
the Credit Agreement or any other Loan Document, (iii) each Lender and
affiliate of such Lender in respect of Swap Obligations and Banking Services
Obligations entered into with such Person by the Company or any Subsidiary, (iv) each
indemnified party under Section 9.03 in respect of the obligations and liabilities
of the Borrowers to such Person hereunder and under the other Loan Documents,
and (v) their respective successors and (in the case of a Lender,
permitted) transferees and assigns.

 

“Solvent” means, in
reference to any Borrower, (i) the fair value of the assets of such
Borrower, at a fair valuation, will exceed its debts and liabilities,
subordinated, contingent or otherwise; (ii) the present fair saleable
value of the property of such Borrower will be greater than the amount that
will be required to pay the probable liability of its debts and other
liabilities, subordinated, contingent or otherwise, as such debts and other
liabilities become absolute and matured; (iii) such Borrower will be able
to pay its debts and liabilities, subordinated, contingent or otherwise, as
such debts and liabilities become absolute and matured; and (iv) such
Borrower will not have unreasonably small capital with which to conduct the
business in which it is engaged as such business is now conducted and is
proposed to be conducted after the Effective Date.

 

“Statutory
Reserve Rate” means, with respect to any currency, a fraction
(expressed as a decimal), the numerator of which is the number one and the
denominator of which is the number one minus the aggregate of the maximum
reserve, liquid asset, fees or similar requirements (including any marginal,
special, emergency or supplemental reserves or other requirements) established
by any central bank, monetary authority, the Board, the Financial Services
Authority, the European Central Bank or other Governmental Authority for any
category of deposits or liabilities customarily used to fund loans in such
currency, expressed in the case of each such requirement as a decimal.  Such reserve, liquid asset, fees or similar
requirements shall, in the case of Dollar denominated Loans, include those
imposed pursuant to Regulation D of the Board.  Eurocurrency Loans shall be deemed to be
subject to such reserve, liquid asset, fee or similar requirements without
benefit of or credit for proration, exemptions or offsets that may be available
from time to time to any Lender under any applicable law, rule or
regulation, including Regulation D of the Board.  The Statutory Reserve Rate shall be adjusted
automatically on and as of the effective date of any change in any reserve,
liquid asset or similar requirement.

 

“Subordinated
Indebtedness” means any Indebtedness of the Company or any Subsidiary the
payment of which is subordinated to payment of the obligations under the Loan
Documents.

 

“Subordinated
Indebtedness Documents” means any document, agreement or instrument
evidencing any Subordinated Indebtedness or entered into in connection with any
Subordinated Indebtedness.

 

“subsidiary”
means, with respect to any Person (the “parent”)
at any date, any corporation, limited liability company, partnership,
association or other entity the accounts of which would be consolidated with
those of the parent in the parent’s consolidated financial statements if such 

 

19

 

financial
statements were prepared in accordance with GAAP as of such date, as well as
any other corporation, limited liability company, partnership, association or
other entity (a) of which securities or other ownership interests
representing more than 50% of the equity or more than 50% of the ordinary
voting power or, in the case of a partnership, more than 50% of the general
partnership interests are, as of such date, owned, controlled or held, or (b) that
is, as of such date, otherwise Controlled, by the parent or one or more
subsidiaries of the parent or by the parent and one or more subsidiaries of the
parent.

 

“Subsidiary”
means any subsidiary of the Company.

 

“Subsidiary
Guarantor” means each Material Subsidiary (other than an Affected Foreign
Subsidiary as relates to any of the Loans made to, or any other Obligation
incurred solely by or on behalf of, the Company or any Domestic
Subsidiary).  The Subsidiary Guarantors
on the Effective Date are identified as such in Schedule 3.01 hereto.

 

“Subsidiary
Guaranty” means that certain Guaranty dated as of the Effective Date
in the form of Exhibit G (including any and all supplements
thereto) and executed by each Subsidiary Guarantor party thereto, and, in the
case of any guaranty by a Foreign Subsidiary, any other guaranty agreements as
are requested by the Administrative Agent and its counsel, in each case as
amended, restated, supplemented or otherwise modified from time to time.

 

“Swap
Agreement” means any agreement with respect to any swap, forward,
future or derivative transaction or option or similar agreement involving, or
settled by reference to, one or more rates, currencies, commodities, equity or
debt instruments or securities, or economic, financial or pricing indices or
measures of economic, financial or pricing risk or value or any similar
transaction or any combination of these transactions; provided
that no phantom stock or similar plan providing for payments only on account of
services provided by current or former directors, officers, employees or
consultants of the Company or the Subsidiaries shall be a Swap Agreement.

 

“Swap
Obligations” means any and all obligations of the Company or any
Subsidiary, whether absolute or contingent and howsoever and whensoever
created, arising, evidenced or acquired (including all renewals, extensions and
modifications thereof and substitutions therefor), under (a) any and all
Swap Agreements permitted hereunder with a Lender or an affiliate of a Lender,
and (b) any and all cancellations, buy backs, reversals, terminations or
assignments of any such Swap Agreement transaction.

 

“Swingline
Exposure” means, at any time, the aggregate principal amount of all
Swingline Loans outstanding at such time. 
The Swingline Exposure of any Lender at any time shall be its Applicable
Percentage of the total  Swingline
Exposure at such time.

 

“Swingline
Lender” means JPMorgan Chase Bank, N.A., in its capacity as lender
of Swingline Loans hereunder.

 

“Swingline
Loan” means a Loan made pursuant to Section 2.05.

 

“Swiss Borrower” means a Borrower incorporated in Switzerland
and/or having its registered office in Switzerland and/or qualifying as a Swiss
resident pursuant to Art. 9 of the Swiss Federal Withholding Tax Act.

 

“Swiss
Federal Withholding Tax” means a tax under the Swiss Federal
Withholding Tax Act.

 

20

 

“Swiss Federal
Withholding Tax Act” means the Swiss Federal Act on the Withholding Tax of
13 October 1965 (Bundesgesetz vom 13. Oktober 1965 über die Verrechnungssteuer).

 

“Swiss Francs” means
the lawful currency of Switzerland.

 

“Swiss Non-Qualifying Bank” means a financial institution or
other entity which does not qualify as a Swiss Qualifying Bank.

 

“Swiss Qualifying Bank” means a financial institution which (i) qualifies
as a bank pursuant to the banking laws in force in its country of
incorporation, (ii) carries on a true banking activity in such
jurisdiction as its main purpose, and (iii) has personnel, premises,
communication devices and decision-making authority of its own, all as per the
Swiss Federal Withholding Tax Act and per explanatory notes of the Swiss
Federal Tax Administration No. S-02-123(9.86) and S 02.128(1.2000) or
legislation or explanatory notes addressing the same issues which are in force
at such time.

 

“Swiss Subsidiary” means Subsidiary incorporated in Switzerland
and/or having its registered office in Switzerland and/or qualifying as a Swiss
resident pursuant to Art. 9 of the Swiss Federal Withholding Tax Act.

 

“Swiss Twenty Non-Bank Regulations”
means the regulations pursuant to the explanatory notes S-02.122.1(4.99),
S-02.122.2(4.1999) and S-02.128(1.2000) of the Swiss Federal Tax Administration
(or legislation or explanatory notes addressing the same issues which are in
force at such time) pursuant to which the aggregate number of persons and legal
entities, which are Swiss Non-Qualifying Banks and to which a Swiss Borrower
directly or indirectly owes interest-bearing borrowed money under all
interest-bearing instruments including, inter alia,
this Agreement, taken together, shall not exceed twenty at any time in order to
not trigger Swiss Federal Withholding Tax.

 

“Syndication Agent”
means Citibank, N.A. in its capacity as syndication agent for the credit
facility evidenced by this Agreement.

 

“Target” means,
collectively, Bruker BioSpin Inc., Bruker Physik GmbH, Scitek GmbH &
Co. KG and Bruker BioSpin Invest AG, and each of their direct and indirect
subsidiaries.

 

“TARGET” means the
Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET)
payment system (or, if such payment system ceases to be operative, such other
payment system (if any) reasonably determined by the Administrative Agent
to be a suitable replacement) for the settlement of payments in euro.

 

“Tax Deduction” means
a deduction or withholding for or on account of Tax from a payment under a Loan
Document.

 

“Taxes”
means any and all present or future taxes, levies, imposts, duties, deductions,
charges or withholdings imposed by any Governmental Authority.

 

“Term Lender” means,
as of any date of determination, each Lender having a Term Loan Commitment or
that holds Term Loans.

 

“Term Loan Commitment”
means (a) as to any Term Lender, the aggregate commitment of such Term
Lender to make Term Loans as set forth on Schedule 2.01 or in the most recent
Assignment Agreement or other documentation contemplated hereby executed by
such Term Lender and (b) as to all Term Lenders, the aggregate commitment
of all Term Lenders to make Term Loans, which aggregate 

 

21

 

commitment
shall be $150,000,000 on the date of this Agreement.  After advancing the Term Loan, each reference
to a Term Lender’s Term Loan Commitment shall refer to that Term Lender’s
Applicable Percentage of the Term Loans.

 

“Term Loans” means
the term loans made by the Term Lenders to the Company pursuant to Section 2.01(b) and
any Incremental Term Loans extended to any Borrower pursuant to Section 2.20.

 

“Transactions”
means the execution, delivery and performance by the Loan Parties of this
Agreement and the other Loan Documents, the borrowing of Loans and other credit
extensions, the use of the proceeds thereof, the issuance of Letters of Credit
hereunder and the consummation of the BioSpin Acquisition.

 

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

 

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

 

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

 

SECTION 1.03.  Terms Generally.  The definitions of terms herein shall apply
equally to the singular and plural forms of the terms defined.  Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter forms.  The words “include”, “includes” and “including”
shall be deemed to be followed by the phrase “without limitation”.  The word “will” shall be construed to have
the same meaning and effect as the word “shall”.  Unless the context requires otherwise (a) any
definition of or reference to any agreement, instrument or other document
herein shall be construed as referring to such agreement, instrument or other
document as from time to time amended, restated, supplemented or otherwise
modified (subject to any restrictions on such amendments, restatements,
supplements or modifications set forth herein), (b) any reference herein
to any Person shall be construed to include such Person’s successors and
assigns, (c) the words “herein”, “hereof” and “hereunder”, and words of
similar import, shall be construed to refer to this Agreement in its entirety
and not to any particular provision hereof, (d) all references herein to
Articles, Sections, Exhibits and Schedules shall be construed to refer to
Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the
words “asset” and “property” shall be construed to have the same meaning and
effect and to refer to any and all tangible and intangible assets and
properties, including cash, securities, accounts and contract rights.

 

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

 

22

 

GAAP as in effect and applied immediately
before such change shall have become effective until such notice shall have
been withdrawn or such provision  amended
in accordance herewith.

 

ARTICLE
II

 

The Credits

 

SECTION 2.01.  Commitments.  Subject to the terms and conditions set forth
herein, (a) each Revolving Lender agrees to make Revolving Loans to the
Borrowers in Agreed Currencies from time to time during the Availability Period
in an aggregate principal amount that will not result in (i) the Dollar
Amount of such Lender’s Revolving Credit Exposure exceeding such Lender’s
Commitment or (ii) subject to Section 2.04, the sum of the Dollar
Amount of the total Revolving Credit Exposures exceeding the aggregate
Revolving Commitments and (b) each Term Lender with a Term Loan Commitment
agrees to make a Term Loan to the Company in Dollars on the Effective Date, in
an amount equal to such Lender’s Term Loan Commitment by making immediately
available funds available to the Administrative Agent’s designated account, not
later than the time specified by the Administrative Agent.  Within the foregoing limits and subject to
the terms and conditions set forth herein, the Borrowers may borrow, prepay and
reborrow Revolving Loans.  Amounts repaid
or prepaid in respect of Term Loans may not be reborrowed.

 

SECTION 2.02.  Loans and Borrowings.  (a)  Each Loan (other than a Swingline
Loan) shall be made as part of a Borrowing consisting of Loans of the same Class and
Type made by the Lenders ratably in accordance with their respective
Commitments of the applicable Class.  The
failure of any Lender to make any Loan required to be made by it shall not
relieve any other Lender of its obligations hereunder; provided
that the Commitments of the Lenders are several and no Lender shall be
responsible for any other Lender’s failure to make Loans as required.  Any Swingline Loan shall be made in
accordance with the procedures set forth in Section 2.05.

 

(b)  Subject to Section 2.14,
each Revolving Borrowing and Term Loan Borrowing shall be comprised entirely of
ABR Loans or Eurocurrency Loans as the relevant Borrower may request in
accordance herewith; provided that all Borrowings made by the Company in
Dollars on the Effective Date must be made as ABR Borrowings but may be
converted into Eurocurrency Borrowings in accordance with Section 2.08.  Each ABR Loan shall only be made in Dollars
and shall only be made to the Company. 
Each Swingline Loan shall be an ABR Loan.  Each Lender at its option may make any
Eurocurrency Loan or any Loan to a Foreign Subsidiary Borrower by causing any
domestic or foreign branch or Affiliate of such Lender to make such Loan (and
in the case of an Affiliate, the provisions of Section 2.14, 2.15, 2.16
and 2.17 shall apply to such Affiliate to the same extent as to such Lender); provided
that any exercise of such option shall not affect the obligation of the
relevant Borrower to repay such Loan in accordance with the terms of this
Agreement.

 

(c)  At the
commencement of each Interest Period for any Eurocurrency Borrowing, such
Borrowing shall be in an aggregate amount that is an integral multiple of
$1,000,000 and not less than $3,000,000 (or the Approximate Equivalent Amount
of each such amount if such Borrowing is denominated in a Foreign Currency).  At the time that each ABR Borrowing is made,
such Borrowing shall be in an aggregate amount that is an integral multiple of
$100,000 and not less than $500,000; provided
that an ABR Revolving Borrowing may be in an aggregate amount that is equal to
the entire unused balance of the total Revolving Commitments or that is
required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.06(e).  Each Swingline Loan shall be in an amount
that is an integral multiple of $100,000 and not less than $500,000.  Borrowings of more than one Type and Class may
be outstanding at the same time; provided
that there shall not at any time be more than a total of ten (10) Eurocurrency
Borrowings outstanding.

 

23

 

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

 

SECTION 2.03.  Requests for
Borrowings.  To request a
Borrowing, the applicable Borrower, or the Company on behalf of the applicable
Borrower, shall notify the Administrative Agent of such request by telephone (a) in
the case of a Eurocurrency Borrowing, not later than 12:00 noon, Local Time,
three (3) Business Days (in the case of a Eurocurrency Borrowing
denominated in Dollars to the Company) or four (4) Business Days (in the
case of a Eurocurrency Borrowing denominated in a Foreign Currency or a
Eurocurrency Borrowing to a Foreign Subsidiary Borrower), in each case before
the date of the proposed Borrowing or (b) in the case of an ABR Borrowing,
not later than 12:00 noon, New York City time, one (1) Business Day before
the date of the proposed Borrowing; provided
that any such notice of an ABR Borrowing to finance the reimbursement of an LC
Disbursement as contemplated by Section 2.06(e) may be given not
later than 12:00 noon, New York City time, on the date of the proposed
Borrowing.  Each such telephonic Borrowing
Request shall be irrevocable and shall be confirmed promptly by hand delivery
or telecopy to the Administrative Agent of a written Borrowing Request in a
form approved by the Administrative Agent and signed by the applicable
Borrower, or the Company on behalf of the applicable Borrower.  Each such telephonic and written Borrowing
Request shall specify the following information in compliance with Section 2.02:

 

(i)  the aggregate amount of the
requested Borrowing;

 

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

 

(iii)  whether such Borrowing is to be
an ABR Borrowing or a Eurocurrency Borrowing;

 

(iv)  in the case of a Eurocurrency
Borrowing, the Agreed Currency (in the case of a Eurocurrency Revolving
Borrowing) and initial Interest Period to be applicable thereto, which shall be
a period contemplated by the definition of the term “Interest Period” and, in
the case of a Eurocurrency Revolving Borrowing denominated in euro, whether
such Borrowing is to bear interest at a rate determined by reference to the
Adjusted LIBO Rate or the Adjusted EURIBO Rate; and

 

(v)  the location and number of the
applicable Borrower’s account to which funds are to be disbursed, which shall
comply with the requirements of Section 2.07.

 

If no election as to the
Type of Revolving Borrowing is specified, then, in the case of a Borrowing
denominated in Dollars to the Company, the requested Revolving Borrowing shall
be an ABR Borrowing.  If no Interest
Period is specified with respect to any requested Eurocurrency Revolving
Borrowing, then the relevant Borrower shall be deemed to have selected an
Interest Period of one month’s duration. 
Promptly following receipt of a Borrowing Request in accordance with
this Section, the Administrative Agent shall advise each Lender of the details
thereof and of the amount of such Lender’s Loan to be made as part of the
requested Borrowing.

 

SECTION 2.04.  Determination of
Dollar Amounts.  The
Administrative Agent will determine the Dollar Amount of:

 

(a)  each Eurocurrency
Revolving Borrowing as of the date three (3) Business Days prior to the
date of such Borrowing or, if applicable, the date of conversion/continuation
of any Borrowing as a Eurocurrency Revolving Borrowing,

 

24

 

(b)  the LC Exposure as
of the date of each request for the issuance, amendment, renewal or extension
of any Letter of Credit, and

 

(c)  all outstanding
Credit Events (other than Term Loans) on and as of the last Business Day of
each calendar quarter and, during the continuation of an Event of Default, on
any other Business Day elected by the Administrative Agent in its discretion or
upon instruction by the Required Lenders.

 

Each day upon or as of which the Administrative Agent determines Dollar
Amounts as described in the preceding clauses (a), (b) and (c) is
herein described as a “Computation Date” with respect to each Credit
Event for which a Dollar Amount is determined on or as of such day.

 

SECTION 2.05.  Swingline Loans.  (a)  Subject to the terms and conditions
set forth herein, the Swingline Lender agrees to make Swingline Loans in
Dollars to the Company from time to time during the Availability Period, in an
aggregate principal amount at any time outstanding that will not result in (i) the
aggregate principal amount of outstanding Swingline Loans exceeding $5,000,000
or (ii) the Dollar Amount of the total Revolving Credit Exposures
exceeding the aggregate Revolving Commitments; provided
that the Swingline Lender shall not be required to make a Swingline Loan to
refinance an outstanding Swingline Loan. 
Within the foregoing limits and subject to the terms and conditions set
forth herein, the Company may borrow, prepay and reborrow Swingline Loans.

 

(b)  To request a
Swingline Loan, the Company shall notify the Administrative Agent of such
request by telephone (confirmed by telecopy), not later than 12:00 noon, New
York City time, on the day of a proposed Swingline Loan.  Each such notice shall be irrevocable and
shall specify the requested date (which shall be a Business Day) and amount of
the requested Swingline Loan.  The
Administrative Agent will promptly advise the Swingline Lender of any such
notice received from the Company.  The
Swingline Lender shall make each Swingline Loan available to the Company by
means of a credit to the general deposit account of the Company with the
Swingline Lender (or, in the case of a Swingline Loan made to finance the
reimbursement of an LC Disbursement as provided in Section 2.06(e), by
remittance to the Issuing Bank) by 3:00 p.m., New York City time, on the
requested date of such Swingline Loan.

 

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

 

25

 

behalf of the Company) in respect of a
Swingline Loan after receipt by the Swingline Lender of the proceeds of a sale
of participations therein shall be promptly remitted to the Administrative
Agent; any such amounts received by the Administrative Agent shall be promptly
remitted by the Administrative Agent to the Revolving Lenders that shall have
made their payments pursuant to this paragraph and to the Swingline Lender, as
their interests may appear; provided that any such payment so remitted
shall be repaid to the Swingline Lender or to the Administrative Agent, as
applicable, if and to the extent such payment is required to be refunded to the
Company for any reason.  The purchase of
participations in a Swingline Loan pursuant to this paragraph shall not relieve
the Company of any default in the payment thereof.

 

SECTION 2.06.  Letters of Credit.  (a) General.  Subject to the terms and conditions set forth
herein, the Company may request the issuance of Letters of Credit denominated
in Agreed Currencies for its own account (or for the account of any
Subsidiary), in a form reasonably acceptable to the Administrative Agent and
the Issuing Bank, at any time and from time to time during the Availability
Period.  In the event of any
inconsistency between the terms and conditions of this Agreement and the terms
and conditions of any form of letter of credit application or other agreement
submitted by the Company to, or entered into by the Company with, the Issuing
Bank relating to any Letter of Credit, the terms and conditions of this
Agreement shall control; provided, however, if the Issuing Bank is
requested to issue Letters of Credit with respect to a jurisdiction the Issuing
Bank deems, in its reasonable judgment, may at any time subject it to a New
Money Credit Event or a Country Risk Event, the Company shall, at the request
of the Issuing Bank, guaranty and indemnify the Issuing Bank against any and
all costs, liabilities and losses resulting from such New Money Credit Event or
Country Risk Event, in each case in a form and substance reasonably
satisfactory to the Issuing Bank.

 

(b)  Notice of Issuance, Amendment, Renewal, Extension; Certain
Conditions.  To request the
issuance of a Letter of Credit (or the amendment, renewal or extension of an
outstanding Letter of Credit), the Company shall hand deliver or telecopy (or
transmit by electronic communication, if arrangements for doing so have been
approved by the Issuing Bank) to the Issuing Bank and the Administrative Agent
(reasonably in advance of the requested date of issuance, amendment, renewal or
extension) a notice requesting the issuance of a Letter of Credit, or
identifying the Letter of Credit to be amended, renewed or extended, and
specifying the date of issuance, amendment, renewal or extension (which shall
be a Business Day), the date on which such Letter of Credit is to expire (which
shall comply with paragraph (c) of this Section), the amount of such
Letter of Credit, the Agreed Currency applicable thereto, the name and address
of the beneficiary thereof and such other information as shall be necessary to
prepare, amend, renew or extend such Letter of Credit.  If requested by the Issuing Bank, the Company
also shall submit a letter of credit application on the Issuing Bank’s standard
form in connection with any request for a Letter of Credit.  A Letter of Credit shall be issued, amended,
renewed or extended only if (and upon issuance, amendment, renewal or extension
of each Letter of Credit the Company shall be deemed to represent and warrant
that), after giving effect to such issuance, amendment, renewal or extension (i) the
Dollar Amount of the LC Exposure shall not exceed $75,000,000 and (ii) subject
to Section 2.04, the sum of the Dollar Amount of the total Revolving
Credit Exposures shall not exceed the total Revolving Commitments.

 

(c)  Expiration Date. 
Each Letter of Credit shall expire at or prior to the close of business
on the earlier of (i) the date one year after the date of the issuance of
such Letter of Credit (or, in the case of any renewal or extension thereof, one
year after such renewal or extension) and (ii) the date that is five (5) Business
Days prior to the Maturity Date, provided, however, that a Letter
of Credit may, upon the request of the Company, include a provision whereby
such Letter of Credit shall be renewed automatically for additional consecutive
periods of one year or less (but not beyond the date that is five Business Days
prior to the Maturity Date) unless the Issuing Bank notifies the beneficiary
thereof at least 30 days prior to the then-applicable expiration date that such
Letter of Credit will not be renewed.

 

26

 

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

 

(e)  Reimbursement. 
If the Issuing Bank shall make any LC Disbursement in respect of a
Letter of Credit, the Company shall reimburse such LC Disbursement by paying to
the Administrative Agent in Dollars the Dollar Amount equal to such LC
Disbursement, calculated as of the date the Issuing Bank made such LC
Disbursement (or if the Issuing Bank shall so elect in its sole discretion by
notice to the Company, in such other Agreed Currency which was paid by the
Issuing Bank pursuant to such LC Disbursement in an amount equal to such LC
Disbursement) not later than 2:00 p.m., Local Time, on the date that such
LC Disbursement is made, if the Company shall have received notice of such LC
Disbursement prior to 10:00 a.m., Local Time, on such date, or, if such
notice has not been received by the Company prior to such time on such date,
then not later than 2:00 p.m., Local Time, on the Business Day immediately
following the day that the Company receives such notice; provided
that, if such LC Disbursement is not less than the Dollar Amount of $1,000,000,
the Company may, subject to the conditions to borrowing set forth herein,
request in accordance with Section 2.03 or 2.05 that such payment be
financed with an ABR Revolving Borrowing or Swingline Loan in an equivalent
Dollar Amount of such LC Disbursement and, to the extent so financed, the
Company’s obligation to make such payment shall be discharged and replaced by
the resulting ABR Revolving Borrowing or Swingline Loan.  If the Company fails to make such payment
when due, the Administrative Agent shall notify each Revolving Lender of the
applicable LC Disbursement, the payment then due from the Company in respect
thereof and such Revolving Lender’s Applicable Percentage thereof.  Promptly following receipt of such notice,
each Revolving Lender shall pay to the Administrative Agent its Applicable
Percentage of the payment then due from the Company, in the same manner as
provided in Section 2.07 with respect to Loans made by such Revolving
Lender (and Section 2.07 shall apply, mutatis
mutandis, to the payment obligations of the
Revolving Lenders), and the Administrative Agent shall promptly pay to the
Issuing Bank the amounts so received by it from the Revolving Lenders.  Promptly following receipt by the
Administrative Agent of any payment from the Company pursuant to this
paragraph, the Administrative Agent shall distribute such payment to the
Issuing Bank or, to the extent that Revolving Lenders have made payments
pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders
and the Issuing Bank as their interests may appear.  Any payment made by a Revolving Lender
pursuant to this paragraph to reimburse the Issuing Bank for any LC
Disbursement (other than the funding of ABR Revolving Loans or a Swingline Loan
as contemplated above) shall not constitute a Loan and shall not relieve the
Company of its obligation to reimburse such LC Disbursement.  If the Company’s reimbursement of, or
obligation to reimburse, any amounts in any Foreign Currency would subject the
Administrative Agent, the Issuing Bank or any Lender to any stamp duty, ad
valorem charge or similar tax that would not be payable if such reimbursement
were made or required to be made in Dollars, the Company shall, at its option,
either (x) pay the amount of any such tax requested by the Administrative
Agent, the Issuing Bank or the relevant Lender or (y) reimburse each LC
Disbursement made in such 

 

27

 

Foreign Currency in Dollars, in an amount
equal to the Equivalent Amount, calculated using the applicable exchange rates,
on the date such LC Disbursement is made, of such LC Disbursement.

 

(f)  Obligations Absolute.  The Company’s obligation to reimburse LC
Disbursements as provided in paragraph (e) of this Section shall be
absolute, unconditional and irrevocable, and shall be performed strictly in
accordance with the terms of this Agreement under any and all circumstances
whatsoever and irrespective of (i) any lack of validity or enforceability
of any Letter of Credit or this Agreement, or any term or provision therein, (ii) any
draft or other document presented under a Letter of Credit proving to be
forged, fraudulent or invalid in any respect or any statement therein being
untrue or inaccurate in any respect, (iii) payment by the Issuing Bank
under a Letter of Credit against presentation of a draft or other document that
does not comply with the terms of such Letter of Credit, or (iv) any other
event or circumstance whatsoever, whether or not similar to any of the
foregoing, that might, but for the provisions of this Section, constitute a
legal or equitable discharge of, or provide a right of setoff against, the
Company’s obligations hereunder.  Neither
the Administrative Agent, the Revolving Lenders nor the Issuing Bank, nor any
of their Related Parties, shall have any liability or responsibility by reason
of or in connection with the issuance or transfer of any Letter of Credit or
any payment or failure to make any payment thereunder (irrespective of any of
the circumstances referred to in the preceding sentence), or any error,
omission, interruption, loss or delay in transmission or delivery of any draft,
notice or other communication under or relating to any Letter of Credit
(including any document required to make a drawing thereunder), any error in
interpretation of technical terms or any consequence arising from causes beyond
the control of the Issuing Bank; provided
that the foregoing shall not be construed to excuse the Issuing Bank from
liability to the Company to the extent of any direct damages (as opposed to
consequential damages, claims in respect of which are hereby waived by the
Company to the extent permitted by applicable law) suffered by the Company that
are caused by the Issuing Bank’s failure to exercise care when determining
whether drafts and other documents presented under a Letter of Credit comply
with the terms thereof.  The parties
hereto expressly agree that, in the absence of gross negligence or willful
misconduct on the part of the Issuing Bank (as finally determined by a court of
competent jurisdiction), the Issuing Bank shall be deemed to have exercised
care in each such determination.  In
furtherance of the foregoing and without limiting the generality thereof, the
parties agree that, with respect to documents presented which appear on their
face to be in substantial compliance with the terms of a Letter of Credit, the
Issuing Bank may, in its sole discretion, either accept and make payment upon
such documents without responsibility for further investigation, regardless of
any notice or information to the contrary, or refuse to accept and make payment
upon such documents if such documents are not in strict compliance with the
terms of such Letter of Credit.

 

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

 

(h)  Interim Interest. 
If the Issuing Bank shall make any LC Disbursement, then, unless the
Company shall reimburse such LC Disbursement in full on the date such LC
Disbursement is made, the unpaid amount thereof shall bear interest, for each
day from and including the date such LC Disbursement is made to but excluding
the date that the Company reimburses such LC Disbursement, at the rate per
annum then applicable to ABR Revolving Loans (or in the case such LC
Disbursement is denominated in a Foreign Currency, at the Overnight Foreign
Currency Rate for such Agreed Currency plus the then effective
Applicable Rate with respect to Eurocurrency Revolving Loans); provided that, if the Company fails to reimburse
such LC Disbursement when due pursuant to paragraph (e) of this 

 

28

 

Section, then Section 2.13(c) shall
apply.  Interest accrued pursuant to this
paragraph shall be for the account of the Issuing Bank, except that interest
accrued on and after the date of payment by any Revolving Lender pursuant to
paragraph (e) of this Section to reimburse the Issuing Bank shall be
for the account of such Lender to the extent of such payment.

 

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

 

(j)  Cash Collateralization.  If any Event of Default shall occur and be
continuing, on the Business Day that the Company receives notice from the
Administrative Agent or the Required Lenders (or, if the maturity of the Loans
has been accelerated, Revolving Lenders with LC Exposure representing greater
than 50% of the total LC Exposure) demanding the deposit of cash collateral
pursuant to this paragraph, the Company shall deposit in an account with the
Administrative Agent, in the name of the Administrative Agent and for the
benefit of the Revolving Lenders, an amount in cash equal to 105% of the Dollar
Amount of the LC Exposure as of such date plus any accrued and unpaid interest thereon;
provided that (i) the portions of such amount attributable to
undrawn Foreign Currency Letters of Credit or LC Disbursements in a Foreign
Currency that the Company is not late in reimbursing shall be deposited in the
applicable Foreign Currencies in the actual amounts of such undrawn Letters of
Credit and LC Disbursements and (ii) the obligation to deposit such cash
collateral shall become effective immediately, and such deposit shall become
immediately due and payable, without demand or other notice of any kind, upon
the occurrence of any Event of Default with respect to the Company described in
clause (h) or (i) of Article VII.  For the purposes of this paragraph, the
Foreign Currency LC Exposure shall be calculated using the applicable exchange
rates of the Administrative Agent on the date notice demanding cash
collateralization is delivered to the Company. 
The Company also shall deposit cash collateral pursuant to this
paragraph as and to the extent required by Section 2.11(b).  Each such deposit shall be held by the
Administrative Agent as collateral for the payment and performance of the
Obligations.  The Administrative Agent
shall have exclusive dominion and control, including the exclusive right of
withdrawal, over such account.  Other
than any interest earned on the investment of such deposits, which investments
shall be made at the option and sole discretion of the Administrative Agent and
at the Company’s risk and expense, such deposits shall not bear interest.  Interest or profits, if any, on such
investments shall accumulate in such account. 
Moneys in such account shall be applied by the Administrative Agent to
reimburse the Issuing Bank for LC Disbursements for which it has not been
reimbursed and, to the extent not so applied, shall be held for the
satisfaction of the reimbursement obligations of the Company for the LC
Exposure at such time or, if the maturity of the Loans has been accelerated
(but subject to the consent of Revolving Lenders with LC Exposure  representing greater than 50% of the total LC
Exposure), be applied to satisfy other obligations of the Company under this
Agreement.  If the Company is required to
provide an amount of cash collateral hereunder as a result of the occurrence of
an Event of Default, such amount (to the extent not applied as aforesaid) shall
be returned to the Company within three (3) Business Days after all Events
of Default have been cured or waived.  If
the Company is required to provide an amount of cash collateral hereunder
pursuant to Section 2.11(b),

 

29

 

such amount (to the extent not applied as
aforesaid) shall be returned to the Company as and to the extent that, after
giving effect to such return, the Company would remain in compliance with Section 2.11(b) and
no Default shall have occurred and be continuing.

 

(k)  Conversion.  In the event that the Loans become
immediately due and payable on any date pursuant to Article VII, all
amounts (i) that the Company is at the time or thereafter becomes required
to reimburse or otherwise pay to the Administrative Agent in respect of LC
Disbursements made under any Foreign Currency Letter of Credit (other than
amounts in respect of which the Company has deposited cash collateral pursuant
to paragraph (j) above, if such cash collateral was deposited in the
applicable Foreign Currency to the extent so deposited or applied), (ii) that
the Lenders are at the time or thereafter become required to pay to the
Administrative Agent and the Administrative Agent is at the time or thereafter
becomes required to distribute to the Issuing Bank pursuant to paragraph (e) of
this Section in respect of unreimbursed LC Disbursements made under any
Foreign Currency Letter of Credit and (iii) of each Revolving Lender’s
participation in any Foreign Currency Letter of Credit under which an LC
Disbursement has been made shall, automatically and with no further action
required, be converted into the Dollar Amount, calculated using the
Administrative Agent’s currency exchange rates on such date (or in the case of
any LC Disbursement made after such date, on the date such LC Disbursement is
made), of such amounts.  On and after
such conversion, all amounts accruing and owed to the Administrative Agent, the
Issuing Bank or any Revolving Lender in respect of the obligations described in
this paragraph shall accrue and be payable in Dollars at the rates otherwise
applicable hereunder.

 

SECTION 2.07.  Funding of
Borrowings.  (a)  Each
Lender shall make each Loan to be made by it hereunder on the proposed date
thereof by wire transfer of immediately available funds (i) in the case of
Loans denominated in Dollars to the Company, by 12:00 noon, New York City time,
to the account of the Administrative Agent most recently designated by it for
such purpose by notice to the Lenders in an amount equal to such Lender’s
Applicable Percentage; provided that Term Loans shall be made as
provided in Section 2.01(b) and (ii) in the case of each Loan
denominated in a Foreign Currency or to a Foreign Subsidiary Borrower, by 12:00
noon, Local Time, in the city of the Administrative Agent’s Eurocurrency
Payment Office for such currency and Borrower and at such Eurocurrency Payment
Office for such currency and Borrower; provided
that Swingline Loans shall be made as provided in Section 2.05.  The Administrative Agent will make such Loans
available to the relevant Borrower by promptly crediting the amounts so
received, in like funds, to (x) an account of the Company maintained with
the Administrative Agent in New York City or Chicago and designated by the
Company in the applicable Borrowing Request, in the case of Loans denominated
in Dollars to the Company and (y) an account of such Borrower maintained
with the Administrative Agent in the relevant jurisdiction and designated by
such Borrower in the applicable Borrowing Request, in the case of Loans
denominated in a Foreign Currency or to a Foreign Subsidiary Borrower; provided that ABR Revolving Loans made to finance
the reimbursement of an LC Disbursement as provided in Section 2.06(e) shall
be remitted by the Administrative Agent to the Issuing Bank.

 

(b)  Unless the
Administrative Agent shall have received notice from a Lender prior to the
proposed date of any Borrowing that such Lender will not make available to the
Administrative Agent such Lender’s share of such Borrowing, the Administrative
Agent may assume that such Lender has made such share available on such date in
accordance with paragraph (a) of this Section and may, in reliance
upon such assumption, make available to the relevant Borrower a corresponding
amount.  In such event, if a Lender has
not in fact made its share of the applicable Borrowing available to the
Administrative Agent, then the applicable Lender and such Borrower severally
agree to pay to the Administrative Agent forthwith on demand such corresponding
amount with interest thereon, for each day from and including the date such
amount is made available to such Borrower to but excluding the date of payment
to the Administrative Agent, at (i) in the case of such Lender, the
greater of the Federal Funds Effective Rate and a rate determined by the
Administrative Agent in accordance with banking industry rules on 

 

30

 

interbank compensation (including without
limitation the Overnight Foreign Currency Rate in the case of Loans denominated
in a Foreign Currency) or (ii) in the case of such Borrower, the interest
rate applicable to ABR Loans.  If such
Lender pays such amount to the Administrative Agent, then such amount shall
constitute such Lender’s Loan included in such Borrowing.

 

SECTION 2.08.  Interest Elections.  (a)  Each Borrowing initially shall be
of the Type specified in the applicable Borrowing Request and, in the case of a
Eurocurrency Borrowing, shall have an initial Interest Period as specified in
such Borrowing Request.  Thereafter, the
relevant Borrower may elect to convert such Borrowing to a different Type or to
continue such Borrowing and, in the case of a Eurocurrency Revolving Borrowing,
may elect Interest Periods therefor, all as provided in this Section.  A Borrower may elect different options with
respect to different portions of the affected Borrowing, in which case each
such portion shall be allocated ratably among the Lenders holding the Loans
comprising such Borrowing, and the Loans comprising each such portion shall be
considered a separate Borrowing.  This Section shall
not apply to Swingline Borrowings, which may not be converted or continued.

 

(b)  To make an
election pursuant to this Section, a Borrower, or the Company on its behalf,
shall notify the Administrative Agent of such election by telephone by the time
that a Borrowing Request would be required under Section 2.03 if such
Borrower were requesting a Revolving Borrowing of the Type resulting from such
election to be made on the effective date of such election.  Each such telephonic Interest Election
Request shall be irrevocable and shall be confirmed promptly by hand delivery
or telecopy to the Administrative Agent of a written Interest Election Request
in a form approved by the Administrative Agent and signed by the relevant
Borrower, or the Company on its behalf. 
Notwithstanding any contrary provision herein, this Section shall
not be construed to permit any Borrower to (i) change the currency of any
Borrowing, (ii) elect an Interest Period for Eurocurrency Loans that does
not comply with Section 2.02(d) or (iii) convert any Borrowing
to a Borrowing of a Type not available under the Class of Commitments
pursuant to which such Borrowing was made.

 

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

 

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

 

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

 

(iii)  whether the resulting Borrowing
is to be an ABR Borrowing or a Eurocurrency Borrowing; and

 

(iv)  if the resulting Borrowing is a
Eurocurrency Borrowing, the Interest Period and Agreed Currency to be
applicable thereto after giving effect to such election, which Interest Period
shall be a period contemplated by the definition of the term “Interest Period”.

 

If any such Interest
Election Request requests a Eurocurrency Borrowing but does not specify an
Interest Period, then the applicable Borrower shall be deemed to have selected
an Interest Period of one month’s duration.

 

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

 

31

 

(e)  If the relevant
Borrower fails to deliver a timely Interest Election Request with respect to a
Eurocurrency Borrowing prior to the end of the Interest Period applicable
thereto, then, unless such Borrowing is repaid as provided herein, at the end
of such Interest Period (i) in the case of a Borrowing denominated in
Dollars borrowed by the Company, such Borrowing shall be converted to an ABR
Borrowing and (ii) in the case of a Borrowing denominated in a Foreign
Currency (or in Dollars by a Foreign Subsidiary Borrower), such Borrowing shall
automatically continue as a Eurocurrency Borrowing in the same Agreed Currency
with an Interest Period of one month unless such Eurocurrency Borrowing is or
was repaid in accordance with Section 2.11.  Notwithstanding any contrary provision
hereof, if an Event of Default has occurred and is continuing and the
Administrative Agent, at the request of the Required Lenders, so notifies the
Company, then, so long as an Event of Default is continuing (i) no
outstanding Borrowing borrowed by the Company may be converted to or continued as
a Eurocurrency Borrowing, (ii) unless repaid, each Eurocurrency Borrowing
borrowed by the Company shall be converted to an ABR Borrowing (and any such
Eurocurrency Borrowing in a Foreign Currency shall be redenominated in Dollars
at the time of such conversion) at the end of the Interest Period applicable
thereto and (iii) unless repaid, each Eurocurrency Revolving Borrowing by
a Foreign Subsidiary Borrower shall automatically be continued as a
Eurocurrency Revolving Borrowing with an Interest Period of one month.

 

SECTION 2.09.  Termination and
Reduction of Commitments.  (a) 
Unless previously terminated, (i) the Term Loan Commitments shall
terminate at 3:00 p.m. (New York City time) on the Effective Date and (ii) all
other Commitments shall terminate on the Maturity Date.

 

(b)  The Company may at
any time terminate, or from time to time reduce, the Revolving Commitments; provided that (i) each reduction of the
Revolving Commitments shall be in an amount that is an integral multiple of
$1,000,000 and not less than $1,000,000 and (ii) the Company shall not
terminate or reduce the Revolving Commitments if, after giving effect to any
concurrent prepayment of the Loans in accordance with Section 2.11, the
Dollar Amount of the sum of the Revolving Credit Exposures would exceed the
total Revolving Commitments.

 

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

 

SECTION 2.10.  Repayment and
Amortization of Loans; Evidence of Debt.  (a) Each Borrower hereby unconditionally
promises to pay (i) to the Administrative Agent for the account of each
Revolving Lender the then unpaid principal amount of each Revolving Loan made
to such  Borrower on the Maturity Date in
the currency of such Loan and (ii) in the case of the Company, to the
Swingline Lender the then unpaid principal amount of each Swingline Loan on the
earlier of the Maturity Date and the first date after such Swingline Loan is
made that is the 15th or last day of a
calendar month and is at least two Business Days after such Swingline Loan is
made; provided that on each date that a
Revolving Borrowing is made, the Company shall repay all Swingline Loans then
outstanding.  The Company shall repay
Term Loans on each date set forth below (subject to adjustment pursuant to Section 2.18(a))
in  the 

 

32

 

aggregate principal amount set forth opposite
such date (as adjusted from time to time pursuant to Section 2.11(a)):

 

	
  Date

  	
   

  	
  Amount

  	
   

  
	
  June 30, 2008

  	
   

  	
  $

  	
  1,875,000

  	
   

  
	
  September 30, 2008

  	
   

  	
  $

  	
  1,875,000

  	
   

  
	
  December 31, 2008

  	
   

  	
  $

  	
  1,875,000

  	
   

  
	
  March 31, 2009

  	
   

  	
  $

  	
  1,875,000

  	
   

  
	
  June 30, 2009

  	
   

  	
  $

  	
  3,750,000

  	
   

  
	
  September 30, 2009

  	
   

  	
  $

  	
  3,750,000

  	
   

  
	
  December 31, 2009

  	
   

  	
  $

  	
  3,750,000

  	
   

  
	
  March 31, 2010

  	
   

  	
  $

  	
  3,750,000

  	
   

  
	
  June 30, 2010

  	
   

  	
  $

  	
  5,625,000

  	
   

  
	
  September 30, 2010

  	
   

  	
  $

  	
  5,625,000

  	
   

  
	
  December 31, 2010

  	
   

  	
  $

  	
  5,625,000

  	
   

  
	
  March 31, 2011

  	
   

  	
  $

  	
  5,625,000

  	
   

  
	
  June 30, 2011

  	
   

  	
  $

  	
  7,500,000

  	
   

  
	
  September 30, 2011

  	
   

  	
  $

  	
  7,500,000

  	
   

  
	
  December 31, 2011

  	
   

  	
  $

  	
  7,500,000

  	
   

  
	
  March 30, 2012

  	
   

  	
  $

  	
  7,500,000

  	
   

  
	
  June 30, 2012

  	
   

  	
  $

  	
  18,750,000

  	
   

  
	
  September 30, 2012

  	
   

  	
  $

  	
  18,750,000

  	
   

  
	
  December 31, 2012

  	
   

  	
  $

  	
  37,500,000

  	
   

  

 

To the extent not previously repaid, all unpaid Term Loans shall be
paid in full in Dollars by the Company on the Maturity Date.

 

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

 

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

 

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

 

(e)  Any Lender may
request that Loans made by it to any Borrower be evidenced by a promissory
note.  In such event, the relevant
Borrower shall prepare, execute and deliver to such Lender a promissory note
payable to the order of such Lender (or, if requested by such Lender, to such
Lender and its registered assigns) and in a form approved by the Administrative
Agent.  Thereafter, the Loans evidenced
by such promissory note and interest thereon shall at all times (including
after assignment 

 

33

 

pursuant to Section 9.04) be represented
by one or more promissory notes in such form payable to the order of the payee
named therein (or, if any such promissory note is a registered note, to such
payee and its registered assigns).

 

SECTION 2.11.  Prepayment of Loans.

 

(a)  Any Borrower shall
have the right at any time and from time to time to prepay any Borrowing in
whole or in part, subject to prior notice in accordance with the provisions of
this Section 2.11(a).  The
applicable Borrower, or the Company on behalf of the applicable Borrower, shall
notify the Administrative Agent (and, in the case of prepayment of a Swingline
Loan, the Swingline Lender) by telephone (confirmed by telecopy) of any
prepayment hereunder (i) in the case of prepayment of a Eurocurrency
Borrowing, not later than 12:00 noon, Local Time, three Business Days (in the
case of a prepayment of a Eurocurrency Borrowing denominated in Dollars to the
Company) and four Business Days (in the case of a Eurocurrency Borrowing
denominated in a Foreign Currency or a Eurocurrency Borrowing to a Foreign
Subsidiary Borrower), in each case before the date of prepayment, (ii) in
the case of prepayment of an ABR Borrowing, not later than 12:00 noon, New York
City time, one Business Day before the date of prepayment or (iii) in the
case of prepayment of a Swingline Loan, not later than 12:00 noon, New York
City time, on the date of prepayment. 
Each such notice shall be irrevocable and shall specify the prepayment
date and the principal amount of each Borrowing or portion thereof to be
prepaid; provided that, (i) if a notice of prepayment is given in
connection with a conditional notice of termination of the Commitments as
contemplated by Section 2.09, then such notice of prepayment may be
revoked if such notice of termination is revoked in accordance with Section 2.09
and (ii) a prepayment notice delivered by a Borrower in respect of any voluntary
prepayment of Term Loans may state that such notice is conditioned upon the
effectiveness of other credit facilities, in which case such notice may be
revoked by such Borrower (by notice to the Administrative Agent on or prior to
the specified effective date) if such condition is not satisfied.  Promptly following receipt of any such notice
relating to a Borrowing (other than a notice relating to a Swingline Loan), the
Administrative Agent shall advise the Lenders of the contents thereof.  Each partial prepayment of any Borrowing
shall be in an amount that would be permitted in the case of an advance of a
Revolving Borrowing of the same Type as provided in Section 2.02.  Each voluntary prepayment of a Term Loan
Borrowing will be applied ratably to the remaining amortization payments in
respect of the Term Loans.  Each
voluntary prepayment of a Revolving Borrowing shall be applied ratably to the
Loans included in the prepaid Borrowing. 
Prepayments shall be accompanied by (i) accrued interest to the extent
required by Section 2.13 and (ii) break funding payments pursuant to Section 2.16.

 

(b)  If at any time, (i) other
than as a result of fluctuations in currency exchange rates, the sum of the
aggregate principal Dollar Amount of all of the Revolving Credit Exposures
(calculated, with respect to those Credit Events denominated in Foreign
Currencies, as of the most recent Computation Date with respect to each such
Credit Event) exceeds the total Revolving Commitments and (ii) solely as a
result of fluctuations in currency exchange rates, the sum of the aggregate
principal Dollar Amount of all of the outstanding Revolving Loans and LC
Exposure, in each case denominated in Foreign Currencies (collectively, “Foreign
Currency Exposure”), as of the most recent Computation Date with respect to
each such Credit Event, exceeds 105% of the Revolving Commitment, the Borrowers
shall immediately repay Borrowings or cash collateralize LC Disbursements in an
account with the Administrative Agent pursuant to Section 2.06(j), as
applicable, in an aggregate principal amount sufficient to cause the aggregate
Dollar Amount of all Revolving Credit Exposures (so calculated) plus such cash
collateral to be less than or equal to the total Revolving Commitments.

 

SECTION 2.12.  Fees.  (a)  The Company agrees to pay to the
Administrative Agent for the account of each Revolving Lender a facility fee,
which shall accrue at the Applicable Rate on the daily amount of the Revolving
Commitment of such Lender (whether used or unused) during the period 

 

34

 

from and including the Effective Date to but
excluding the date on which such Commitment terminates; provided
that, if such Lender continues to have any Revolving Credit Exposure after its
Revolving Commitment terminates, then such facility fee shall continue to
accrue on the daily amount of such Lender’s Revolving Credit Exposure from and
including the date on which its Revolving Commitment terminates to but
excluding the date on which such Lender ceases to have any Revolving Credit
Exposure.  Accrued facility fees shall be
payable in arrears on the last day of March, June, September and December of
each year and on the date on which the Revolving Commitments terminate,
commencing on the first such date to occur after the date hereof; provided that any facility fees accruing after
the date on which the Revolving Commitments terminate shall be payable on
demand.  All facility fees shall be
computed on the basis of a year of 360 days and shall be payable for the actual
number of days elapsed (including the first day but excluding the last day).

 

(b)  The Company agrees
to pay (i) to the Administrative Agent for the account of each Revolving
Lender a participation fee with respect to its participations in Letters of
Credit, which shall accrue at the same Applicable Rate used to determine the
interest rate applicable to Eurocurrency Revolving Loans on the average daily
Dollar Amount of such Lender’s LC Exposure (excluding any portion thereof
attributable to unreimbursed LC Disbursements) during the period from and
including the Effective Date to but excluding the later of the date on which
such Revolving Lender’s Revolving Commitment terminates and the date on which
such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a
fronting fee, which shall accrue at the rate of 0.125% per annum on the average
daily Dollar Amount of the LC Exposure (excluding any portion thereof
attributable to unreimbursed LC Disbursements) attributable to Letters of
Credit issued by the Issuing Bank during the period from and including the
Effective Date to but excluding the later of the date of termination of the
Revolving Commitments and the date on which there ceases to be any LC Exposure,
as well as the Issuing Bank’s standard fees and commissions with respect to the
issuance, amendment, cancellation, negotiation, transfer, presentment, renewal
or extension of any Letter of Credit or processing of drawings thereunder.  Unless otherwise specified above, participation
fees and fronting fees accrued through and including the last day of March,
June, September and December of each year shall be payable on the
third (3rd) Business Day following such last day, commencing on the
first such date to occur after the Effective Date; provided
that all such fees shall be payable on the date on which the Revolving
Commitments terminate and any such fees accruing after the date on which the
Revolving Commitments terminate shall be payable on demand.  Any other fees payable to the Issuing Bank
pursuant to this paragraph shall be payable within ten (10) days after
demand.  All participation fees and
fronting fees shall be computed on the basis of a year of 360 days and shall be
payable for the actual number of days elapsed (including the first day but
excluding the last day).

 

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

 

(d)  All fees payable
hereunder shall be paid on the dates due, in Dollars (except as otherwise
expressly provided in this Section 2.12) and immediately available funds,
to the Administrative Agent (or to the Issuing Bank, in the case of fees
payable to it) for distribution, in the case of facility fees and participation
fees, to the applicable Lenders.  Fees
paid shall not be refundable under any circumstances.

 

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

 

(b)  The Loans
comprising each Eurocurrency Borrowing shall bear interest at the Adjusted LIBO
Rate (or, if the applicable Borrower has requested that such Eurocurrency
Borrowing 

 

35

 

denominated in euro bear interest at the
Adjusted EURIBO Rate, the Adjusted EURIBO Rate) for the Interest Period in
effect for such Borrowing plus the Applicable Rate.

 

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

 

(d)  Accrued interest
on each Loan shall be payable in arrears on each Interest Payment Date for such
Loan and, in the case of Revolving Loans, upon termination of the Revolving
Commitments; provided that (i) interest
accrued pursuant to paragraph (c) of this Section shall be payable on
demand, (ii) in the event of any repayment or prepayment of any Loan
(other than a prepayment of an ABR Revolving Loan prior to the end of the
Availability Period), accrued interest on the principal amount repaid or
prepaid shall be payable on the date of such repayment or prepayment and (iii) in
the event of any conversion of any Eurocurrency Revolving Loan prior to the end
of the current Interest Period therefor, accrued interest on such Loan shall be
payable on the effective date of such conversion.

 

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

 

(f)  The parties hereto
have assumed that the interest payable under this Agreement is not and will not
become subject to Swiss Federal Withholding Tax.  If a Tax Deduction is required by law in
respect of any interest payable by a Swiss Borrower under a Loan Document and
should it be unlawful for a Swiss Borrower to comply with Section 2.17 for
any reason taking into account the exclusions set out in Section 2.17:  (i) then the applicable interest rate in
relation to that interest payment shall be the interest rate which would have
applied to that interest payment as provided for in this Section 2.13 (as
provided for in the absence of this paragraph (f)) divided by the following: 1 minus
the relevant Tax Deduction is required to be made under Swiss domestic tax law
and/or applicable double taxation treaties (where the rate at which the
relevant Tax Deduction required to be made is, for this purpose, expressed as a
fraction of one (1)), and (ii) the Swiss Borrower shall pay the relevant
interest at the adjusted rate in accordance with the preceding clause (i), make
the Tax Deduction on the interest so recalculated and all references to a rate
of interest under the Loan Documents shall be construed accordingly.

 

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

 

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

 

(b)  the Administrative Agent is advised
by the Required Lenders that the Adjusted LIBO Rate, LIBO Rate, Adjusted EURIBO
Rate or EURIBO Rate, as applicable, for such Interest 

 

36

 

Period will not adequately and fairly reflect the cost to such Lenders
(or Lender) of making or maintaining their Loans (or its Loan) included in such
Borrowing for such Interest Period;

 

then the Administrative
Agent shall give notice thereof to the applicable Borrower and the Lenders by
telephone or telecopy as promptly as practicable thereafter and, until the
Administrative Agent notifies the applicable Borrower and the Lenders that the
circumstances giving rise to such notice no longer exist, (i) any Interest
Election Request that requests the conversion of any Borrowing to, or
continuation of any Borrowing as, a Eurocurrency Borrowing shall be ineffective
and shall be repaid on the last day of the 
then current Interest Period applicable thereto, (ii) any
Eurocurrency Borrowing by a Foreign Subsidiary Borrower that is requested to be
continued shall be repaid on the last day of the then current Interest Period
applicable thereto and (iii) if any Borrowing Request by the Company
requests a Eurocurrency Borrowing in Dollars, such Borrowing shall be made as
an ABR Borrowing (and if any Borrowing 
Request requests a Eurocurrency Borrowing by a Foreign Subsidiary
Borrower or denominated in a Foreign Currency, such Borrowing Request shall be
ineffective); provided
that if the circumstances giving rise to such notice affect only one Type of
Borrowings, then the other Type of Borrowings shall be permitted.

 

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

 

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

 

(ii)  impose on any Lender or the
Issuing Bank or the London interbank market any other condition affecting this
Agreement or Eurocurrency Loans made by such Lender or any Letter of Credit or
participation therein;

 

and the result of any of the
foregoing shall be to increase the cost to such Lender of making or maintaining
any Eurocurrency Loan or of maintaining its obligation to make any such Loan
(including, without limitation, pursuant to any conversion of any Borrowing
denominated in an Agreed Currency into a Borrowing denominated in any other
Agreed Currency) or to increase the cost to such Lender or the Issuing Bank of
participating in, issuing or maintaining any Letter of Credit (including,
without limitation, pursuant to any conversion of any Borrowing denominated in
an Agreed Currency into a Borrowing denominated in any other Agreed Currency)
or to reduce the amount of any sum received or receivable by such Lender or the
Issuing Bank hereunder, whether of principal, interest or otherwise (including,
without limitation, pursuant to any conversion of any Borrowing denominated in
an Agreed Currency into a Borrowing denominated in any other Agreed Currency),
then the applicable Borrower will pay to such Lender or the Issuing Bank, as
the case may be, such additional amount or amounts as will compensate such
Lender or the Issuing Bank, as the case may be, for such additional costs
incurred or reduction suffered  For the
avoidance of doubt, the Borrowers will have no obligations under this Section 2.15
with respect to increased costs resulting from (i) any Indemnified Taxes
or Other Taxes (as to which Section 2.17 shall govern) or (ii) changes
in the rate or basis of imposition of any Excluded Taxes.

 

(b)  If any Lender or
the Issuing Bank determines that any Change in Law regarding capital
requirements has or would have the effect of reducing the rate of return on
such Lender’s or the Issuing Bank’s capital or on the capital of such Lender’s
or the Issuing Bank’s holding company, if any, as a consequence of this
Agreement or the Loans made by, or participations in Letters of Credit held by,
such Lender, or the Letters of Credit issued by the Issuing Bank, to a level
below that which such Lender or the Issuing Bank or such Lender’s or the
Issuing Bank’s holding company could have achieved but for 

 

37

 

such Change in Law (taking into consideration
such Lender’s or the Issuing Bank’s policies and the policies of such Lender’s
or the Issuing Bank’s holding company with respect to capital adequacy), then
from time to time the applicable Borrower will pay to such Lender or the
Issuing Bank, as the case may be, such additional amount or amounts as will
compensate such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s
holding company for any such reduction suffered.

 

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

 

(d)  Failure or delay
on the part of any Lender or the Issuing Bank to demand compensation pursuant
to this Section shall not constitute a waiver of such Lender’s or the
Issuing Bank’s right to demand such compensation; provided
that the Company shall not be required to compensate a Lender or the Issuing
Bank pursuant to this Section for any increased costs or reductions
incurred more than 270 days prior to the date that such Lender or the Issuing
Bank, as the case may be, notifies the Company of the Change in Law giving rise
to such increased costs or reductions and of such Lender’s or the Issuing Bank’s
intention to claim compensation therefor; provided
further that, if the Change in Law giving
rise to such increased costs or reductions is retroactive, then the 270-day
period referred to above shall be extended to include the period of retroactive
effect thereof.

 

(e)  Notwithstanding
the foregoing, the rights of any Lender and the Issuing Bank to receive
compensation from any Borrower pursuant to this Section 2.15 shall only be
available to the extent that such compensation is reasonably requested by such
Lender or Issuing Bank and not invoked in an arbitrary or capricious manner.

 

SECTION 2.16.  Break Funding
Payments.  In the event of (a) the
payment of any principal of any Eurocurrency Loan other than on the last day of
an Interest Period applicable thereto (including as a result of an Event of
Default or as a result of any prepayment pursuant to Section 2.11), (b) the
conversion of any Eurocurrency Loan other than on the last day of the Interest
Period applicable thereto, (c) the failure to borrow, convert, continue or
prepay any Eurocurrency Loan on the date specified in any notice delivered
pursuant hereto (regardless of whether such notice may be revoked under Section 2.11(b) and
is revoked in accordance therewith) or (d) the assignment of any
Eurocurrency Loan other than on the last day of the Interest Period applicable
thereto as a result of a request by the Company pursuant to Section 2.19,
then, in any such event, the Borrowers shall compensate each Lender for the
loss, cost and expense attributable to such event.  Such loss, cost or expense to any Lender
shall be deemed to include an amount determined by such Lender to be the
excess, if any, of (i) the amount of interest which would have accrued on
the principal amount of such Loan had such event not occurred, at the Adjusted
LIBO Rate or Adjusted EURIBO Rate (as applicable) that would have been
applicable to such Loan, for the period from the date of such event to the last
day of the then current Interest Period therefor (or, in the case of a failure
to borrow, convert or continue, for the period that would have been the
Interest Period for such Loan), over (ii) the amount of interest which
would accrue on such principal amount for such period at the interest rate
which such Lender would bid were it to bid, at the commencement of such period,
for deposits in the relevant currency of a comparable amount and period from
other banks in the eurocurrency market. 
A certificate of any Lender setting forth any amount or amounts that
such Lender is entitled to receive pursuant to this Section shall be
delivered to the applicable Borrower and shall be conclusive absent manifest
error.  The applicable Borrower shall pay
such Lender the amount shown as due on any such certificate within ten (10) days
after receipt thereof.

 

38

 

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

 

(b)  In addition, each
Borrower shall pay any Other Taxes related to such Borrower and imposed on or
incurred by the Administrative Agent, a Lender or the Issuing Bank to the
relevant Governmental Authority in accordance with applicable law.

 

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

 

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

 

(e)  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 located, or any treaty to which
such jurisdiction is a party, with respect to payments under this Agreement
shall deliver to such Borrower (with a copy to the Administrative Agent), at
the time or times prescribed by applicable law, such properly completed and
executed documentation prescribed by applicable law or reasonably requested by
such Borrower as will permit such payments to be made without withholding or at
a reduced rate.  At the request of the
Company or the Administrative Agent, each Lender that is not a Foreign Lender
and is not an “exempt recipient” (within the meaning of Treasury Regulation Section 1.6049-4(c)(1)(ii) (without
regard to the third sentence thereof)) shall deliver an Internal Revenue
Service Form W-9 or other such documentation prescribed by applicable law
or reasonably requested by the Company or the Administrative Agent as will
enable the Company or Administrative Agent to determine whether or not such
Lender is subject to backup withholding or information reporting requirements.

 

(f)  If the
Administrative Agent or a 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 the Borrowers or with respect to which a Borrower has paid additional
amounts pursuant to this Section 2.17, it shall pay over such refund to
such Borrower (but only to the extent of indemnity payments made, or additional
amounts paid, by such Borrower under this Section 2.17 with respect to the
Taxes or Other Taxes giving 

 

39

 

rise to such refund), net of all
out-of-pocket expenses of the Administrative Agent or such Lender and without
interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund); provided, that such Borrower, upon the
request of the Administrative Agent or such Lender, agrees to repay the amount
paid over to such Borrower (plus any penalties, interest or other charges
imposed by the relevant Governmental Authority) to the Administrative Agent or
such Lender in the event the Administrative Agent or such Lender is required to
repay such refund to such Governmental Authority. This Section shall not
be construed to require the Administrative Agent or any Lender to make
available its tax returns (or any other information relating to its taxes which
it deems confidential) to any Borrower or any other Person.

 

(g)  To the extent that
interest payable by a Swiss Borrower under a Loan Document becomes subject to
Swiss Federal Withholding Tax, each relevant Lender and such Swiss Borrower
shall promptly cooperate in completing any procedural formalities (including
submitting forms and documents required by the appropriate tax authorities) to
the extent possible and necessary for such Swiss Borrower to obtain
authorization to make interest payments without them being subject to Swiss
Federal Withholding Tax or to being subject to Swiss Federal Withholding Tax at
a rate reduced under an applicable double taxation treaty.

 

SECTION 2.18.  Payments Generally;
Pro Rata Treatment; Sharing of Set-offs.

 

(a)  Each Borrower
shall make each payment required to be made by it hereunder (whether of
principal, interest, fees or reimbursement of LC Disbursements, or of amounts
payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to (i) in
the case of payments denominated in Dollars by the Company, 12:00 noon, New
York City time and (ii) in the case of payments denominated in a Foreign
Currency or by a Foreign Subsidiary Borrower, 12:00 noon, Local Time, in the
city of the Administrative Agent’s Eurocurrency Payment Office for such
currency, in each case on the date when due, in immediately available funds,
without set-off or counterclaim.  Any
amounts received after such time on any date may, in the discretion of the
Administrative Agent, be deemed to have been received on the next succeeding
Business Day for purposes of calculating interest thereon.  All such payments shall be made (i) in
the same currency in which the applicable Credit Event was made (or where such
currency has been converted to euro, in euro) and (ii) to the
Administrative Agent at its offices at 10 South Dearborn Street, Chicago, Illinois
60603 or, in the case of a Credit Event denominated in a Foreign Currency or to
a Foreign Subsidiary Borrower, the Administrative Agent’s Eurocurrency Payment
Office for such currency, except payments to be made directly to the Issuing
Bank or Swingline Lender as expressly provided herein and except that payments
pursuant to Sections 2.15, 2.16, 2.17 and 9.03 shall be made directly to the
Persons entitled thereto.  The
Administrative Agent shall distribute any such payments denominated in the same
currency received by it for the account of any other Person to the appropriate
recipient promptly following receipt thereof. 
If any payment hereunder shall be due on a day that is not a Business
Day, the date for payment shall be extended to the next succeeding Business
Day, and, in the case of any payment accruing interest, interest thereon shall
be payable for the period of such extension. 
Notwithstanding the foregoing provisions of this Section, if, after the
making of any Credit Event in any Foreign Currency, currency control or
exchange regulations are imposed in the country which issues such currency with
the result that the type of currency in which the Credit Event was made (the “Original
Currency”) no longer exists or any Borrower is not able to make payment to
the Administrative Agent for the account of the Lenders in such Original
Currency, then all payments to be made by such Borrower hereunder in such
currency shall instead be made when due in Dollars in an amount equal to the
Dollar Amount (as of the date of repayment) of such payment due, it being the
intention of the parties hereto that the Borrowers take all risks of the
imposition of any such currency control or exchange regulations.

 

(b)  If at any time
insufficient funds are received by and available to the Administrative Agent to
pay fully all amounts of principal, unreimbursed LC Disbursements, interest and
fees then due 

 

40

 

hereunder, such funds shall be applied (i) first,
towards payment of interest and fees then due hereunder, ratably among the
parties entitled thereto in accordance with the amounts of interest and fees
then due to such parties, and (ii) second, towards payment of principal
and unreimbursed LC Disbursements then due hereunder, ratably among the parties
entitled thereto in accordance with the amounts of principal and unreimbursed
LC Disbursements then due to such parties.

 

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

 

(d)  Unless the
Administrative Agent shall have received notice from the relevant Borrower
prior to the date on which any payment is due to the Administrative Agent for
the account of the relevant Lenders or the Issuing Bank hereunder that such
Borrower will not make such payment, the Administrative Agent may assume that
such Borrower has made such payment on such date in accordance herewith and
may, in reliance upon such assumption, distribute to the relevant Lenders or
the Issuing Bank, as the case may be, the amount due.  In such event, if such Borrower has not in
fact made such payment, then each of the relevant Lenders or the Issuing Bank,
as the case may be, severally agrees to repay to the Administrative Agent
forthwith on demand the amount so distributed to such Lender or Issuing Bank
with interest thereon, for each day from and including the date such amount is
distributed to it to but excluding the date of payment to the Administrative
Agent, at the greater of the Federal Funds Effective Rate and a rate determined
by the Administrative Agent in accordance with banking industry rules on
interbank compensation (including without limitation the Overnight Foreign
Currency Rate in the case of Loans denominated in a Foreign Currency).

 

(e)  If any Lender
shall fail to make any payment required to be made by it pursuant to Section 2.05(c),
2.06(d) or (e), 2.07(b), 2.18(d) or 9.03(c), then the Administrative
Agent may, in its discretion (notwithstanding any contrary provision hereof),
apply any amounts thereafter received by the Administrative Agent for the
account of such Lender to satisfy such Lender’s obligations under such Sections
until all such unsatisfied obligations are fully paid.

 

SECTION 2.19.  Mitigation
Obligations; Replacement of Lenders. 
(a)  If any Lender requests compensation under Section 2.15,
or if any Borrower is required to pay any additional amount to any Lender or
any Governmental Authority for the account of any Lender pursuant to Section 2.17,
then 

 

41

 

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 judgment of such Lender, such designation or
assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.15
or 2.17, as the case may be, in the future and (ii) would not subject such
Lender to any unreimbursed cost or expense and would not otherwise be
disadvantageous to such Lender.  The
Company hereby agrees to pay all reasonable costs and expenses incurred by any
Lender in connection with any such designation or assignment.

 

(b)  If any Lender
requests compensation under Section 2.15, or if any Borrower is required
to pay any additional amount to any Lender or any Governmental Authority for
the account of any Lender pursuant to Section 2.17, or if any Lender
defaults in its obligation to fund Loans hereunder, then the Company may, at
its sole expense and effort, upon notice to such Lender and the Administrative
Agent, require such Lender to assign and delegate, without recourse (in
accordance with and subject to the restrictions contained in Section 9.04),
all its interests, rights and obligations under the Loan Documents to an
assignee that shall assume such obligations (which assignee may be another
Lender, if a Lender accepts such assignment); provided
that (i) the Company shall have received the prior written consent of the
Administrative Agent, which consent shall not unreasonably be withheld or
delayed, (ii) such Lender shall have received payment of an amount equal
to the outstanding principal of its Loans and participations in LC
Disbursements and Swingline Loans, accrued interest thereon, accrued fees and
all other amounts payable to it hereunder, from the assignee (to the extent of
such outstanding principal and accrued interest and fees) or the Company (in
the case of all other amounts) and (iii) in the case of any such
assignment resulting from a claim for compensation under Section 2.15 or
payments required to be made pursuant to Section 2.17, such assignment
will result in a reduction in such compensation or payments.  A Lender shall not be required to make any
such assignment and delegation if, prior thereto, as a result of a waiver by
such Lender or otherwise, the circumstances entitling the Company to require
such  assignment and delegation cease to
apply.

 

SECTION 2.20.  Expansion Option.  The Company may from time to time elect to
increase the Revolving Commitments or enter into one or more tranches of term
loans (each an “Incremental Term Loan”), in each case in minimum
increments of $20,000,000 so long as, after giving effect thereto, the
aggregate amount of such increases and all such Incremental Term Loans does not
exceed $100,000,000.  The Company may
arrange for any such increase or tranche to be provided by one or more Lenders
(each Lender so agreeing to an increase in its Revolving Commitment, or to
participate in such Incremental Term Loans, an “Increasing Lender”), or
by one or more new banks, financial institutions or other entities (each such
new bank, financial institution or other entity, an “Augmenting Lender”),
to increase their existing Revolving Commitments, or to participate in such
Incremental Term Loans, or extend Revolving Commitments, as the case may be; provided
that (i) each Augmenting Lender shall be subject to the approval of the
Company and the Administrative Agent and (ii) (x) in the case of an
Increasing Lender, the Company and such Increasing Lender execute an agreement
substantially in the form of Exhibit C hereto, and (y) in the
case of an Augmenting Lender, the Company and such Augmenting Lender execute an
agreement substantially in the form of Exhibit D hereto.  Increases and new Revolving Commitments and
Incremental Term Loans created pursuant to this Section 2.20 shall become
effective on the date agreed by the Company, the Administrative Agent and the
relevant Increasing Lenders or Augmenting Lenders and the Administrative Agent
shall notify each Lender thereof. 
Notwithstanding the foregoing, no increase in the Revolving Commitments
(or in the Revolving Commitment of any Lender) or tranche of Incremental Term
Loans shall become effective under this paragraph unless, (i) on the
proposed date of the effectiveness of such increase or Incremental Term Loans, (A) the
conditions set forth in paragraphs (a) and (b) of Section 4.02
shall be satisfied or waived by the Required Lenders and the Administrative
Agent shall have received a certificate to that effect dated such date and
executed by a Financial Officer of the Company and (B) the Company shall
be in compliance (on a pro forma basis reasonably acceptable to the
Administrative Agent) with the covenants 

 

42

 

contained in Section 6.10 and (ii) the
Administrative Agent shall have received documents consistent with those
delivered on the Effective Date as to the corporate power and authority of the
Borrowers to borrow hereunder after giving effect to such increase.  On the effective date of any increase in the
Revolving Commitments or any Incremental Term Loans being made, (i) each
relevant Increasing Lender and Augmenting Lender shall make available to the
Administrative Agent such amounts in immediately available funds as the
Administrative Agent shall determine, for the benefit of the other Lenders, as
being required in order to cause, after giving effect to such increase and the
use of such amounts to make payments to such other Lenders, each Lender’s
portion of the outstanding Revolving Loans of all the Lenders to equal its
Applicable Percentage of such outstanding Revolving Loans, and (ii) except
in the case of any Incremental Term Loans, the Borrowers shall be deemed to
have repaid and reborrowed all outstanding Revolving Loans as of the date of
any increase in the Revolving Commitments (with such reborrowing to consist of
the Types of Revolving Loans, with related Interest Periods if applicable,
specified in a notice delivered by the applicable Borrower, or the Company on
behalf of the applicable Borrower, in accordance with the requirements of Section 2.03).  The deemed payments made pursuant to clause (ii) of
the immediately preceding sentence shall be accompanied by payment of all
accrued interest on the amount prepaid and, in respect of each Eurocurrency
Loan, shall be subject to indemnification by the Borrowers pursuant to the
provisions of Section 2.16 if the deemed payment occurs other than on the
last day of the related Interest Periods. 
The Incremental Term Loans (a) shall rank pari passu in right of
payment with the Revolving Loans and the initial Term Loans, (b) shall not
mature earlier than the Maturity Date (but may, subject to the next succeeding
clause (c), have amortization prior to such date), (c) shall not have a
weighted average life to maturity that is shorter than the then-remaining
weighted average life to maturity of the Term Loans and (d) shall be
treated substantially the same as (and in any event no more favorably than) the
Revolving Loans and the initial Term Loans; provided that (i) the
terms and conditions applicable to any tranche of Incremental Term Loans
maturing after the Maturity Date may provide for material additional or
different financial or other covenants or prepayment requirements applicable
only during periods after the Maturity Date and (ii) the Incremental Term
Loans may be priced differently than the Revolving Loans and the initial Term
Loans.  Incremental Term Loans may be
made hereunder pursuant to an amendment (an “Incremental Term Loan Amendment”)
to this Agreement and, as appropriate, the other Loan Documents, executed by
the Borrowers, each Augmenting Lender participating in such tranche, if any,
and the Administrative Agent.  The
Incremental Term Loan Amendment may, without the consent of any other Lenders,
effect such amendments to this Agreement and the other Loan Documents as may be
necessary or appropriate, in the reasonable opinion of the Administrative
Agent, to effect the provisions of this Section 2.20.

 

SECTION 2.21.  Market Disruption.  Notwithstanding the satisfaction of all
conditions referred to in Article II and Article IV with respect to
any Credit Event to be effected in any Foreign Currency, if (i) there
shall occur on or prior to the date of such Credit Event any change in national
or international financial, political or economic conditions or currency
exchange rates or exchange controls which would in the reasonable opinion of
the Administrative Agent, the Issuing Bank (if such Credit Event is a Letter of
Credit) or the Required Lenders make it impracticable for the Eurocurrency
Borrowings or Letters of Credit comprising such Credit Event to be denominated
in the Agreed Currency specified by the applicable Borrower or (ii) an
Equivalent Amount of such currency is not readily calculable, then the
Administrative Agent shall forthwith give notice thereof to such Borrower, the
Lenders and, if such Credit Event is a Letter of Credit, the Issuing Bank, and
such Credit Events shall not be denominated in such Agreed Currency but shall,
except as otherwise set forth in Section 2.07, be made on the date of such
Credit Event in Dollars, (a) if such Credit Event is a Borrowing, in an
aggregate principal amount equal to the Dollar Amount of the aggregate
principal amount specified in the related request for a Credit Event or
Interest Election Request, as the case may be, as ABR Loans, unless such
Borrower notifies the Administrative Agent at least one Business Day before
such date that (i) it elects not to borrow on such date or (ii) it
elects to borrow on such date in a different Agreed Currency, as the case may
be, in which the denomination of such Loans would in the reasonable opinion of
the 

 

43

 

Administrative Agent and the Required Lenders
be practicable and in an aggregate principal amount equal to the Dollar Amount
of the aggregate principal amount specified in the related request for a Credit
Event or Interest Election Request, as the case may be or (b) if such
Credit Event is a Letter of Credit, in a face amount equal to the Dollar Amount
of the face amount specified in the related request or application for such
Letter of Credit, unless such Borrower notifies the Administrative Agent at
least one (1) Business Day before such date that (i) it elects not to
request the issuance of such Letter of Credit on such date or (ii) it
elects to have such Letter of Credit issued on such date in a different Agreed
Currency, as the case may be, in which the denomination of such Letter of
Credit would in the reasonable opinion of the Issuing Bank, the Administrative
Agent and the Required Lenders be practicable and in face amount equal to the
Dollar Amount of the face amount specified in the related request or application
for such Letter of Credit, as the case may be.

 

SECTION 2.22.  Judgment Currency.  If for the purposes of obtaining judgment in
any court it is necessary to convert a sum due from any Borrower hereunder in
the currency expressed to be payable herein (the “specified currency”)
into another currency, the parties hereto agree, to the fullest extent that
they may effectively do so, that the rate of exchange used shall be that at
which in accordance with normal banking procedures the Administrative Agent
could purchase the specified currency with such other currency at the
Administrative Agent’s main New York City office on the Business Day preceding
that on which final, non-appealable judgment is given.  The obligations of each Borrower in respect
of any sum due to any Lender or the Administrative Agent hereunder shall,
notwithstanding any judgment in a currency other than the specified currency,
be discharged only to the extent that on the Business Day following receipt by
such Lender or the Administrative Agent (as the case may be) of any sum
adjudged to be so due in such other currency such Lender or the Administrative
Agent (as the case may be) may in accordance with normal, reasonable banking
procedures purchase the specified currency with such other currency.  If the amount of the specified currency so
purchased is less than the sum originally due to such Lender or the
Administrative Agent, as the case may be, in the specified currency, each
Borrower agrees, to the fullest extent that it may effectively do so, as a
separate obligation and notwithstanding any such judgment, to indemnify such
Lender or the Administrative Agent, as the case may be, against such loss, and
if the amount of the specified currency so purchased exceeds (a) the sum
originally due to any Lender or the Administrative Agent, as the case may be,
in the specified currency and (b) any amounts shared with other Lenders as
a result of allocations of such excess as a disproportionate payment to such
Lender under Section 2.18, such Lender or the Administrative Agent, as the
case may be, agrees to remit such excess to such Borrower.

 

SECTION 2.23.  Designation of Foreign Subsidiary
Borrowers.  The Company may at any
time and from time to time designate any Eligible Foreign Subsidiary as a Foreign
Subsidiary Borrower by delivery to the Administrative Agent of a Borrowing
Subsidiary Agreement executed by such Subsidiary and the Company and the
satisfaction of the other conditions precedent set forth in Section 4.03,
and upon such delivery and satisfaction such Subsidiary shall for all purposes
of this Agreement be a Foreign Subsidiary Borrower and a party to this
Agreement until the Company shall have executed and delivered to the
Administrative Agent a Borrowing Subsidiary Termination with respect to such
Subsidiary, whereupon such Subsidiary shall cease to be a Foreign Subsidiary
Borrower and a party to this Agreement. 
Notwithstanding the preceding sentence, no Borrowing Subsidiary
Termination will become effective as to any Foreign Subsidiary Borrower at a
time when any principal of or interest on any Loan to such Borrower shall be
outstanding hereunder, provided that such Borrowing Subsidiary
Termination shall be effective to terminate the right of such Foreign
Subsidiary Borrower to make further Borrowings under this Agreement.  As soon as practicable upon receipt of a
Borrowing Subsidiary Agreement, the Administrative Agent shall furnish a copy
thereof to each Revolving Lender.

 

SECTION 2.24.  Senior Debt.  The Company hereby designates all Obligations
now or hereinafter incurred or otherwise outstanding, and agrees that the
Obligations shall at all times constitute, 

 

44

 

senior indebtedness and designated senior
indebtedness, or terms of similar import, which are entitled to the benefits of
the subordination provisions of all Subordinated Indebtedness.

 

ARTICLE
III

 

Representations and Warranties

 

Each Borrower represents and
warrants to the Lenders that:

 

SECTION 3.01.  Organization;
Powers; Subsidiaries.  Each of
the Company and its Subsidiaries is duly organized, validly existing and in
good standing (to the extent such concept is applicable in the relevant
jurisdiction) under the laws of the jurisdiction of its organization, (except,
in the case of Subsidiaries that are not Loan Parties, where the failure to so
be in good standing, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect), has all requisite power and
authority to carry on its business as now conducted and, except where the
failure to do so, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect, is qualified to do business
in, and is in good standing (to the extent such concept is applicable) in,
every jurisdiction where such qualification is required.  Schedule 3.01 hereto (as supplemented
from time to time) identifies each Subsidiary, noting whether such Subsidiary
is a Material Subsidiary, the jurisdiction of its incorporation or
organization, as the case may be, the percentage of issued and outstanding
shares of each class of its capital stock or other equity interests owned by
the Company and the other Subsidiaries and, if such percentage is not 100%
(excluding directors’ qualifying shares as required by law), a description of
each class issued and outstanding.  All
of the outstanding shares of capital stock and other equity interests of each
Subsidiary are validly issued and outstanding and fully paid and nonassessable
and all such shares and other equity interests indicated on Schedule 3.01
as owned by the Company or another Subsidiary are owned, beneficially and of
record, by the Company or any Subsidiary free and clear of all Liens, other
than Liens created under the Pledge Agreements. 
Except as set forth on Schedule 3.01, there are no outstanding
commitments or other obligations of the Company or any Subsidiary to issue, and
no options, warrants or other rights of any Person to acquire, any shares of
any class of capital stock or other equity interests of the Company or any
Subsidiary.

 

SECTION 3.02.  Authorization;
Enforceability.  The
Transactions are within each Loan Party’s corporate powers and have been duly
authorized by all necessary corporate and, if required, shareholder
action.  The Loan Documents to which each
Loan Party is a party have been duly executed and delivered by such Loan Party
and constitute a legal, valid and binding obligation of such Loan Party,
enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’
rights generally and subject to general principles of equity, regardless of
whether considered in a proceeding in equity or at law.

 

SECTION 3.03.  Governmental
Approvals; No Conflicts.  The
Transactions (a) do not require any consent or approval of, registration
or filing with, or (except as set forth on Schedule 3.03) any other
action by, any Governmental Authority, except (i) such as have been
obtained or made and are in full force and effect, (ii) the filings of the
certificates of merger or other similar filings with appropriate Governmental
Authorities in connection with the BioSpin Acquisition, and (iii) filings
necessary to perfect Liens created under the Loan Documents, (b) will not
violate any applicable law or regulation or the charter, by-laws or other
organizational documents of the Company or any of its Subsidiaries or any order
of any Governmental Authority, (c) will not violate or result in a default
under any indenture, agreement or other instrument binding upon the Company or
any of its Subsidiaries or its assets, or give rise to a right thereunder to
require any payment (other than payments contemplated by the BioSpin
Acquisition and the Loan Documents) to be made by the Company or any of its
Subsidiaries, and (d) will 

 

45

 

not result in the creation or imposition of
any Lien on any asset of the Company or any of its Subsidiaries, other than
Liens created under the Pledge Agreements.

 

SECTION 3.04.  Financial Condition;
No Material Adverse Change.  (a) 
The Company has heretofore furnished to the Lenders its consolidated balance
sheet and statements of income, stockholders equity and cash flows (i) as
of and for the fiscal year ended December 31, 2006 reported on by Ernst &
Young LLP, independent public accountants, and (ii) as of and for the
fiscal quarter and the portion of the fiscal year ended September 30,
2007, certified by its chief financial officer. 
Such financial statements present fairly, in all material respects, the
financial position and results of operations and cash flows of the Company and
its consolidated Subsidiaries as of such dates and for such periods in
accordance with GAAP, subject to year-end audit adjustments and the absence of
footnotes in the case of the statements referred to in clause (ii) above.

 

(b)  Since December 31,
2006, there has been no material adverse change in the business, assets,
operations or condition, financial or otherwise, of the Company and its
Subsidiaries, taken as a whole.

 

SECTION 3.05.  Properties.  (a)  Each of the Company and its
Subsidiaries has good title to, or valid leasehold interests in, all its real
and personal property material to its business, except for minor defects in
title that do not interfere with its ability to conduct its business as
currently conducted or to utilize such properties for their intended purposes
and Liens permitted by Section 6.2.

 

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

 

SECTION 3.06.  Litigation and
Environmental Matters.  (a) There
are no actions, suits, proceedings or investigations by or before any
arbitrator or Governmental Authority pending against or, to the knowledge of
any Borrower, threatened against or affecting the Company or any of its
Subsidiaries (i) as to which there is a reasonable possibility of an
adverse determination and that, if adversely determined, could reasonably be
expected, individually or in the aggregate, to result in a Material Adverse
Effect or (ii) that involve this Agreement or the Transactions.  There are no labor controversies pending
against or, to the knowledge of the Company, threatened against or affecting
the Company or any of its Subsidiaries (i) which could reasonably be
expected, individually or in the aggregate, to result in a Material Adverse
Effect, or (ii) that involve this Agreement or the Transactions.

 

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

 

(c)  Neither the
Company nor any Subsidiary is party or subject to any law, regulation, rule or
order, or any obligation under any agreement or instrument, that has a Material
Adverse Effect.

 

SECTION 3.07.  Compliance with Laws
and Agreements.  Each of the
Company and its Subsidiaries is in compliance with all laws, regulations and
orders of any Governmental Authority applicable to it or its property and all
indentures, agreements and other instruments binding upon it or its 

 

46

 

property, except in any case where the
failure to do so, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect.  Each of the Swiss Borrowers represents and
warrants that it does not have at any time outstanding loans in relation to
which the total number of all creditors which are Swiss Non-Qualifying Banks
exceeds twenty under the Swiss Twenty Non-Bank Regulations.

 

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

 

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

 

SECTION 3.10.  ERISA.  No ERISA Event has occurred or is reasonably
expected to occur that, when taken together with all other such ERISA Events
for which liability is reasonably expected to occur, could reasonably be
expected to result in a Material Adverse Effect.

 

SECTION 3.11.  Disclosure.  The Company has disclosed to 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.  Neither the
Information Memorandum nor any of the other reports, financial statements,
certificates or other information furnished by or on behalf of the Company or
any Subsidiary to the Administrative Agent or any Lender in connection with the
negotiation of this Agreement or delivered hereunder (as modified or
supplemented by other information so furnished or filed with the SEC) when
taken as a whole and when taken together with the Company’s filings with the
SEC prior to the date hereof 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 Borrowers represent
only that such information was prepared in good faith based upon assumptions
believed to be reasonable at the time (it being understood that such
projections may vary from actual results and such variances may be material).

 

SECTION 3.12.  Federal Reserve
Regulations.  No part of the proceeds of any Loan have been
used or will be used, whether directly or indirectly, for any purpose that entails
a violation of any of the Regulations of the Board, including Regulations T, U
and X.

 

SECTION 3.13.  Liens.  There are no Liens on any of the real or
personal properties of the Company or any Subsidiary except for Liens permitted
by Section 6.02.

 

SECTION 3.14.  No Default.  Each Borrower is in full compliance with this
Agreement and no Default or Event of Default has occurred and is continuing.

 

SECTION 3.15.  No Burdensome Restrictions.  On the date hereof, no Borrower is subject to
any Burdensome Restrictions except Burdensome Restrictions permitted under Section 6.08.

 

SECTION 3.16.  Solvency.

 

47

 

(a)  Immediately after
the consummation of the Transactions to occur on the Effective Date, the Company
and its Subsidiaries, taken as a whole, are and will be Solvent.

 

(b)  The Company does
not intend to, nor will it permit any of its Subsidiaries to, and the Company
does not believe that it or any of its Subsidiaries will, incur debts beyond
its ability to pay such debts as they mature, taking into account the timing of
and amounts of cash to be received by it or any such Subsidiary and the timing
of the amounts of cash to be payable on or in respect of its Indebtedness or
the Indebtedness of any such Subsidiary.

 

ARTICLE
IV

 

Conditions

 

SECTION 4.01.  Effective Date.  The obligations of the Lenders to make Loans
and of the Issuing Bank to issue Letters of Credit hereunder shall not become
effective until the date on which each of the following conditions is satisfied
(or waived in accordance with Section 9.02):

 

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

 

(b)  The Administrative
Agent shall have received a favorable written opinion (addressed to the
Administrative Agent and the Lenders and dated the Effective Date) of each of (i) Nixon
Peabody LLP, special U.S. counsel for the Loan Parties, substantially in the
form of Exhibit B-1, (ii) Staiger, Schwald & Partner
AG, special Swiss counsel for the Loan Parties, substantially in the form of Exhibit B-2,
and (iii) CMS Hasche Sigle, special German counsel for the Loan Parties,
substantially in the form of Exhibit B-3, and covering such other
matters relating to the Loan Parties, the Loan Documents or the Transactions as
the Administrative Agent shall reasonably request.  The Company hereby requests such counsels to
deliver such opinions.

 

(c)  The Lenders shall
have received (i) satisfactory audited consolidated financial statements
of the Company and the Target for their 2004, 2005 and 2006 fiscal years, (ii) satisfactory
unaudited interim consolidated financial statements of the Company and the
Target for each quarterly period ended subsequent to the date of the latest
financial statements delivered pursuant to clause (i) of this paragraph as
to which such financial statements are publicly available and (iii) financial
statement projections (giving effect to the BioSpin Acquisition) through and
including the Company’s next five (5) fiscal years, such projections shall
be consistent in all material respects with the forecasts and other information
previously provided to Lenders, together with such information as the
Administrative Agent and the Lenders shall reasonably request (including,
without limitation, a detailed description of the assumptions used in preparing
such projections).

 

(d)  The Administrative
Agent shall have received such documents and certificates as the Administrative
Agent or its counsel may reasonably request relating to the organization,
existence and good standing of the initial Loan Parties, the authorization of
the Transactions and any other 

 

48

 

legal matters relating to such Loan Parties,
the Loan Documents or the Transactions, all in form and substance reasonably
satisfactory to the Administrative Agent and its counsel and as further
described in the list of closing documents attached as Exhibit E.

 

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

 

(f)  The Administrative Agent shall have
received evidence satisfactory to it that any credit facility currently in
effect for the Company shall have been terminated and cancelled and all
indebtedness thereunder shall have been fully repaid (except to the extent
being so repaid with the initial Revolving Loans) and any and all liens
thereunder shall have been terminated.

 

(g)  The Administrative Agent shall have
received evidence reasonably satisfactory to it that all governmental and third
party approvals necessary in connection with the Transactions and the
continuing operations of the Company and its Subsidiaries have been obtained
and are in full force and effect.

 

(h)  The Administrative Agent shall have
received evidence reasonably satisfactory to it that the Company’s and the
Target’s directors and, if required, the Company’s and the Target’s
shareholders, shall have approved the BioSpin Acquisition.

 

(i)  The purchase agreements in respect
of the BioSpin Acquisition shall contain terms and conditions which are
consistent with the letter of intent therefor previously furnished to the
Administrative Agent and otherwise reasonably acceptable to the Administrative
Agent (including without limitation the amount and forms of the consideration
to be paid in connection with the BioSpin Acquisition), the representations and
warranties in such purchase agreements shall be accurate in all material respects
as of the date of the BioSpin Acquisition closing date and the conditions
therein shall have been satisfied or waived (with the Administrative Agent’s
written consent, not to be unreasonably withheld, delayed or conditioned) and
the Administrative Agent shall have received an opinion of counsel from Nixon
Peabody, LLP as to the enforceability of the U.S. purchase agreement and its
compliance with all applicable laws, subject to customary exceptions,
assumptions, qualifications and limitations.

 

(j)  The Administrative Agent shall have
received a copy of any fairness opinion relating to the terms of the BioSpin
Acquisition, if any such opinion is delivered in connection with the BioSpin
Acquisition.

 

(k)  The Administrative Agent and the
Lenders shall have received a written certification from an officer of the
Company that, after giving effect to the BioSpin Acquisition and any incurrence
of indebtedness in connection therewith, (i) the Company and its
Subsidiaries, taken as a whole, are Solvent and will be Solvent subsequent to
incurring the indebtedness in connection with the BioSpin Acquisition, will be
able to pay their debts and liabilities as they become due and will not be left
with unreasonably small capital with which to engage in their business and (ii) the
Company’s and its Subsidiaries’ assets (taken as a whole) exceed their
liabilities (taken as a whole).

 

(l)  The BioSpin Acquisition shall have
been consummated or shall be consummated simultaneously with the initial
funding of the Loans on the Effective Date and the capitalization, structure
and equity ownership of the Company and each Guarantor after the BioSpin
Acquisition 

 

49

 

shall be as disclosed to the Lenders prior to the Effective Date or otherwise
satisfactory to the Administrative Agent in all respects.

 

(m)  The Administrative Agent shall have
received a compliance certificate, substantially in the form of Exhibit I,
demonstrating, to the Administrative Agent’s reasonable satisfaction, pro forma
compliance with all financial covenants set forth in Section 6.10.

 

(n)  The Administrative Agent shall have
received evidence reasonably satisfactory to it with respect to the absence of
any injunction or temporary restraining order or any litigation or threatened
litigation which, in the judgment of the Administrative Agent, could prohibit
the making of the Loans hereunder or the consummation of the BioSpin
Acquisition.

 

(o)  The Administrative Agent shall have
received all fees and other amounts due and payable on or prior to the
Effective Date, including, to the extent invoiced, reimbursement or payment of
all out-of-pocket expenses required to be reimbursed or paid by the Company
hereunder.

 

The Administrative Agent
shall notify the Company and the Lenders of the Effective Date, and such notice
shall be conclusive and binding.

 

SECTION 4.02.  Each Credit Event.  The obligation of each Lender to make a Loan
on the occasion of any Borrowing, and of the Issuing Bank to issue, amend,
renew or extend any Letter of Credit, is subject to the satisfaction of the
following conditions:

 

(a)  The representations and warranties
of the Borrowers set forth in this Agreement shall be true and correct in all
material respects on and as of the date of such Borrowing or the date of
issuance, amendment, renewal or extension of such Letter of Credit, as
applicable, unless specifically stated to have been made on a previous date, in
which case such representation and warranty shall be true and correct in all
material respects as of such date.

 

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

 

(c)  No law or regulation shall
prohibit, and no order, judgment or decree of any Governmental Authority shall
enjoin, prohibit or restrain, any Lender from making the requested Loan or the
Issuing Bank or any Lender from issuing, renewing, extending or increasing the face
amount of or participating in the Letter of Credit requested to be issued,
renewed, extended or increased.

 

Each Borrowing (provided that a conversion or a continuation of
a Borrowing shall not constitute a “Borrowing” for purposes of this Section)
and each issuance, amendment, renewal or extension of a Letter of Credit shall
be deemed to constitute a representation and warranty by the Borrowers on the
date thereof as to the matters specified in paragraphs (a) and (b) of
this Section.

 

SECTION 4.03.  Designation of a
Foreign Subsidiary Borrower. 
The designation of a Foreign Subsidiary Borrower pursuant to Section 2.23
is subject to the condition precedent that the Company or such proposed Foreign
Subsidiary Borrower shall have furnished or caused to be furnished to the
Administrative Agent:

 

50

 

(a)  Copies, certified by the Secretary or
Assistant Secretary of such Subsidiary, of its Board of Directors’ resolutions
(and resolutions of other bodies, if any are deemed necessary by counsel for
the Administrative Agent) approving the Borrowing Subsidiary Agreement and any
other Loan Documents to which such Subsidiary is becoming a party;

 

(b)  An incumbency certificate, executed by the
Secretary or Assistant Secretary of such Subsidiary, which shall identify by
name and title and bear the signature of the officers of such Subsidiary
authorized to request Borrowings hereunder and sign the Borrowing Subsidiary
Agreement and the other Loan Documents to which such Subsidiary is becoming a
party, upon which certificate the Administrative Agent and the Lenders shall be
entitled to rely until informed of any change in writing by the Company or such
Subsidiary;

 

(c)  Opinions of counsel to such
Subsidiary, in form and substance reasonably satisfactory to the Administrative
Agent and its counsel, with respect to the laws of its jurisdiction of
organization and such other matters as are reasonably requested by counsel to
the Administrative Agent and addressed to the Administrative Agent and the
Lenders.

 

(d)  Any promissory notes requested by
any Revolving Lender, and any other instruments and documents reasonably
requested by the Administrative Agent.

 

ARTICLE V

 

Affirmative Covenants

 

Until the Commitments have
expired or been terminated and the principal of and interest on each Loan and
all fees payable hereunder shall have been paid in full and all Letters of
Credit shall have expired or terminated 
(or otherwise become subject to cash collateralization or other
arrangements reasonably satisfactory to the Administrative Agent and Issuing
Bank) and all LC Disbursements shall have been reimbursed, the Company
covenants and agrees with the Lenders that:

 

SECTION 5.01.  Financial Statements
and Other Information.  The
Company will furnish to the Administrative Agent for distribution to each
Lender:

 

(a)  within ninety (90)
days after the end of each fiscal year of the Company, its audited consolidated
balance sheet and related statements of operations, stockholders’ equity and cash
flows as of the end of and for such year, setting forth in each case in
comparative form the figures for the previous fiscal year, all reported on by
Ernst & Young LLP or other independent public accountants of
recognized national standing (without a “going concern” or like qualification
or exception and without any qualification or exception as to the scope of such
audit) to the effect that such consolidated financial statements present fairly
in all material respects the financial condition and results of operations of
the Company and its consolidated Subsidiaries on a consolidated basis in
accordance with GAAP consistently applied;

 

(b)  within forty-five
(45) days after the end of each of the first three fiscal quarters of each
fiscal year of the Company, its unaudited consolidated balance sheet and
unaudited related statements of operations, stockholders’ equity and cash flows
as of the end of and for such fiscal quarter and the then elapsed portion of
the fiscal year, setting forth in each case in comparative form the figures for
the corresponding period or periods of (or, in the case of the balance sheet,
as of the end of) the previous fiscal year, all certified by one of its
Financial Officers (which certification shall be satisfied by the certification
provided in Exhibit 31.2 to the Company’s applicable Quarterly Report on Form 10-Q)
as presenting fairly in all material respects the 

 

51

 

financial condition and results of operations
of the Company and its consolidated Subsidiaries on a consolidated basis in
accordance with GAAP consistently applied, subject to normal year-end audit
adjustments and the absence of footnotes;

 

(c)  concurrently with
any delivery of financial statements under clause (a) or (b) above, a
certificate of a Financial Officer of the Company, substantially in the form of
Exhibit I, (i) certifying as to whether a Default has occurred
and, if a Default has occurred, specifying the details thereof and any action
taken or proposed to be taken with respect thereto, (ii) setting forth
reasonably detailed calculations demonstrating compliance with Section 6.10
and (iii) stating whether, to the knowledge of such Financial Officer, any
change in GAAP or in the application thereof has occurred since the date of the
audited financial statements referred to in Section 3.04 and, if any such
change has occurred, specifying the effect of such change on the financial
statements accompanying such certificate;

 

(d)  concurrently with
any delivery of financial statements under clause (a) above, a certificate
of the accounting firm that reported on such financial statements stating
whether they obtained knowledge during the course of their examination of such
financial statements of any Default (which certificate may be limited to the
extent required by accounting rules or guidelines);

 

(e)  as soon as
available, but in any event not more than seventy-five (75) days following the
beginning of each fiscal year of the Company, a copy of the plan and forecast
(including a projected consolidated and consolidating balance sheet, income
statement and funds flow statement) of the Company for each month of the
upcoming fiscal year in form as presented to the Board of Directors of the
Company;

 

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

 

(g)  promptly following
any request therefor, such other information regarding the operations, business
affairs and financial condition of the Company or any Subsidiary, or compliance
with the terms of this Agreement, as the Administrative Agent or any Lender may
reasonably request.

 

Documents required to be delivered pursuant to Sections 5.01(a), (b) and
(f) may be delivered electronically and, if so delivered, shall be deemed
to have been delivered on the date (i) on which the Company posts such
documents on the SEC’s website at www.sec.gov or on the Company’s website at
the address communicated to the Administrative Agent and the Lenders in
accordance with Section 9.01 or (ii) on which similar website, if
any, to which the Administrative Agent and each Lender has access (whether a
commercial, third-party website or whether a website sponsored by the
Administrative Agent), provided that the Company shall have notified (which
notice may be by facsimile or electronic mail and shall be given in accordance
with Section 9.01) the Administrative Agent of the posting of any such
documents.  Each Lender shall be solely
responsible for timely accessing posted documents or requesting delivery of
paper copies of such documents from the Administrative Agent.

 

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

 

52

 

(a)  the occurrence of
any Default;

 

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

 

(c)  the occurrence of
any ERISA Event that, alone or together with any other ERISA Events that have
occurred, could reasonably be expected to result in a Material Adverse Effect;
and

 

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

 

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

 

SECTION 5.03.  Existence; Conduct
of Business.  The Company
will, and will cause each of its Subsidiaries to, do or cause to be done all
things necessary to preserve, renew and keep in full force and effect its (a) legal
existence and (b) the rights, qualifications, licenses, permits,
privileges, franchises, governmental authorizations and intellectual property
rights material to the conduct of its business, and maintain all requisite
authority to conduct its business in each jurisdiction in which its business is
conducted; except, in the case of clause (b), to the extent that failure to do
so could not reasonably be expected to result in a Material Adverse Effect; provided that the foregoing shall not prohibit
any merger, consolidation, liquidation or dissolution permitted under Section 6.03.

 

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

 

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

 

SECTION 5.06.  Books and Records;
Inspection Rights.  The
Company will, and will cause each of its Material Subsidiaries to, keep proper
books of record and account from which financial statements may be prepared in
accordance with GAAP and, in any event, consistent with the Company’s (or such
Subsidiary’s, as the case may be) past practice or changes in such practice
necessary to meet the requirements of GAAP. 
The Company will, and will cause each of its Subsidiaries to, permit any
representatives designated by the Administrative Agent or any Lender, upon
reasonable prior notice, to visit and inspect its properties, to examine and
make extracts from its books and records, and to discuss its affairs, finances
and condition with its officers and independent accountants, all at such
reasonable times and as often as reasonably requested, provided that,
excluding any such visits and inspections 

 

53

 

during the continuation of an Event of
Default, (a) only the Administrative Agent on behalf of the Lenders (or a
Lender to the extent such visit or inspection is coordinated through the
Administrative Agent) may exercise the rights under this Section 5.06, (b) the
Administrative Agent and the Lenders, collectively, shall not exercise such
rights more often than two times during any calendar year absent the existence
of an Event of Default and only one such time shall be at the Company’s expense
absent the existence of an Event of Default and (c) the Person exercising
such rights shall attempt not to exercise such rights during the first thirty
(30) days of any of the Company’s fiscal quarters.  Notwithstanding anything to the contrary in
this Section 5.06 or any other Loan Document, none of the Company or any
Subsidiary shall be required to disclose, permit the inspection, examination or
making of copies or abstracts of, or discussion of, any document, information
or other matter (a) that constitutes non-financial trade secrets or
non-financial proprietary information (in each case, unless an Event of Default
has occurred and is continuing, provided that, in such case, such
information shall be available to the Administrative Agent on behalf of the
Lenders (or to any Lender to the extent such visit or inspection is coordinated
through the Administrative Agent, provided that, in connection with such
information, each such Lender shall be subject to customary “clean-room”
restrictions that are reasonably satisfactory to each of the Administrative
Agent and the Company)), (b) in respect of which disclosure to the Administrative
Agent or any Lender (or any of their respective representatives) is prohibited
by any law or any binding contractual agreement or (c) is subject to
attorney-client or similar privilege or constitutes attorney work product.

 

SECTION 5.07.  Compliance with Laws
and Material Contractual Obligations.  The Company will, and will cause each of its
Subsidiaries to, (i) comply with all laws, rules, regulations and orders
of any Governmental Authority applicable to it or its property (including
without limitation Environmental Laws) and (ii) perform in all material
respects its obligations under material agreements to which it is a party, in
case of (i) and (ii), except where the failure to do so, individually or
in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect.  Each of the Swiss
Borrowers shall at all times ensure that it complies with the Swiss Twenty
Non-Bank Regulations.

 

SECTION 5.08.  Use of Proceeds.  The proceeds of the Loans will be used only
to finance the BioSpin Acquisition and the working capital needs, and for
general corporate purposes, of the Company and its Subsidiaries in the ordinary
course of business, including Permitted Acquisitions.  No part of the proceeds of any Loan will be
used, whether directly or indirectly, for any purpose that entails a violation
of any of the Regulations of the Board, including Regulations T, U and X.

 

SECTION 5.09.  Subsidiary Guaranty.  As promptly as possible but in any event
within thirty (30) days (or such later date as may be agreed upon by the
Administrative Agent) after any Person becomes a Subsidiary or any Subsidiary
qualifies independently as, or is designated by the Company or the
Administrative Agent as, a Subsidiary Guarantor pursuant to the definitions of “Material
Subsidiary” and “Subsidiary Guarantor”, the Company shall provide the
Administrative Agent with written notice thereof setting forth information in
reasonable detail describing the material assets of such Person and shall cause
each such Subsidiary which also qualifies as a Subsidiary Guarantor to deliver
to the Administrative Agent a joinder to the Subsidiary Guaranty (in the form
contemplated thereby) pursuant to which such Subsidiary agrees to be bound by
the terms and provisions of thereof, such joinder to the Subsidiary Guaranty to
be accompanied by appropriate corporate resolutions, other corporate
documentation and legal opinions in form and substance reasonably satisfactory
to the Administrative Agent and its counsel.

 

SECTION 5.10.  Pledge Agreements.  Each Borrower shall execute or cause to be
executed, by no later than thirty (30) days (in the case of a pledge of Equity
Interests of a Domestic Subsidiary) or sixty (60) days (in the case of a pledge
of Equity Interests of a Material Foreign Subsidiary) (or, in each case, such
later date as is agreed to by the Administrative Agent in its reasonable 

 

54

 

discretion) after the date on which any
Subsidiary would qualify as a Pledge Subsidiary, a Pledge Agreement in favor of
the Administrative Agent for the benefit of the Secured Parties with respect to
the Applicable Pledge Percentage of all of the outstanding Equity Interests of
such Pledge Subsidiary; provided that no such pledge of the Equity Interests
of a Foreign Subsidiary or a Domestic Subsidiary which is a Subsidiary of a
Foreign Subsidiary shall be required hereunder, as relates to any of the Loans
made to, or any other Obligation incurred solely by or on behalf of, the
Company or any Domestic Subsidiary, to the extent such pledge would cause a
Deemed Dividend Problem or is prohibited by applicable law or the
Administrative Agent and its counsel reasonably determine that, in light of the
cost and expense associated therewith, such pledge would not provide material
Pledged Equity for the benefit of the Secured Parties pursuant to legally
binding, valid and enforceable Pledge Agreements.  The Company further agrees to deliver to the
Administrative Agent all such Pledge Agreements, together with appropriate
corporate resolutions and other documentation (including legal opinions, the
stock certificates representing the Equity Interests subject to such pledge,
stock powers with respect thereto executed in blank, and such other documents
as shall be reasonably requested to perfect the Lien of such pledge) in each
case in form and substance reasonably satisfactory to the Administrative Agent,
and in a manner that the Administrative Agent shall be reasonably satisfied
that it has a first priority perfected pledge of or charge over the Pledged
Equity related thereto.  Notwithstanding
the foregoing, the parties hereto acknowledge and agree that no Pledge
Agreement in respect of the pledge of Equity Interests of a Pledge Subsidiary
which is a Foreign Subsidiary shall be required until March 26, 2008 (or
such later date as is agreed to by the Administrative Agent in its reasonable
discretion).

 

Nothing in a Pledge Agreement shall oblige a Swiss Borrower to make any
payment in respect of such Pledge Agreement for any other Loan Party which is
not a Subsidiary of such Swiss Borrower unless such payments are limited to the
amount of the freely disposable shareholders equity of such Swiss Borrower at
the time of the enforcement of the obligations and liabilities under such
Pledge Agreement.  The freely disposable
shareholder equity shall be determined in accordance with Swiss law and Swiss
accounting principles and shall correspond to such Swiss Borrower’s total
shareholder equity less the total of (i) its aggregate share capital and (ii) its
statutory reserves (including reserves for own shares and revaluations as well
as agio) to the extent such reserves are not available for distribution at the
time of the enforcement of the obligations and liabilities of such Swiss
Borrower under Such Pledge Agreement for the obligations under the Loan
Documents of any other Loan Party which is not a subsidiary of such Swiss
Borrower, which amount shall be (a) determined on the basis of an audited
annual or interim balance sheet of each Swiss Borrower, (b) approved by
the auditors of each Swiss Borrower as distributable amount and (c) approved
by a shareholders’ resolution of each Swiss Borrower in accordance with the
provisions of the Swiss Code of Obligations.

 

ARTICLE
VI

 

Negative Covenants

 

Until the Commitments have
expired or terminated and the principal of and interest on each Loan and all
fees  payable hereunder have been paid in
full and all Letters of Credit have expired or terminated (or otherwise become
subject to cash collateralization or other arrangements reasonably satisfactory
to the Administrative Agent and the Issuing Bank), and all LC Disbursements
shall have been reimbursed, the Company covenants and agrees with the Lenders
that:

 

SECTION 6.01.  Indebtedness.  The Company will not, and will not permit any
Subsidiary to, create, incur, assume or permit to exist any Indebtedness,
except:

 

(a)  the Obligations
and any other Indebtedness created under the Loan Documents;

 

55

 

(b)  Indebtedness
existing on the date hereof and set forth in Schedule 6.01 and
extensions, renewals and replacements of any such Indebtedness with
Indebtedness of a similar type that does not increase the outstanding principal
amount thereof;

 

(c)  Indebtedness of
the Company to any Subsidiary and of any Subsidiary to the Company or any other
Subsidiary; provided that Indebtedness of any Subsidiary that is not a
Loan Party to any Loan Party shall be subject to the limitations set forth in Section 6.04(d);

 

(d)  Guarantees by the
Company of Indebtedness of any Subsidiary and by any Subsidiary of Indebtedness
of the Company or any other Subsidiary;

 

(e)  Indebtedness of
the Company or any Subsidiary incurred to finance the acquisition, construction
or improvement of any fixed or capital assets, including Capital Lease
Obligations and any Indebtedness assumed in connection with the acquisition of
any such assets or secured by a Lien on any such assets (including any
replacement thereof, and additions and accessions to such asset and the
proceeds and products thereof (and any customary security deposits made in
connection therewith)) prior to the acquisition thereof, and extensions,
renewals and replacements of any such Indebtedness that do not increase the
outstanding principal amount thereof; provided that (i) such
Indebtedness is incurred prior to or within ninety (90) days after such
acquisition or the completion of such construction or improvement and (ii) the
aggregate principal amount of Indebtedness permitted by this clause (e) shall
not exceed $25,000,000 at any time outstanding;

 

(f)  Indebtedness of
the Company or any Subsidiary as an account party in respect of letters of
credit (other than Letters of Credit issued under this Agreement) or bankers’
acceptances or similar instruments in an aggregate principal amount not to
exceed $100,000,000 at any time;

 

(g)  Indebtedness of
any Subsidiary that is not a Loan Party and Indebtedness of the Company or any
Subsidiary secured by a Lien on any asset of the Company or any Subsidiary; provided
that the aggregate outstanding principal amount of Indebtedness permitted by
this clause (g) shall not in the aggregate exceed $25,000,000 at any time;

 

(h)  unsecured
Indebtedness of any Loan Party in an aggregate principal amount not exceeding
$25,000,000 at any time outstanding; provided that no such Dollar
limitation shall apply if the Company has complied and remains in compliance
with the Adjusted Covenant Requirement;

 

(i)  Indebtedness owed
to any Person (including obligations in respect of letters of credit for the
benefit of such Person) providing workers’ compensation, health, disability or
other employee benefits or property, casualty or liability insurance, pursuant
to reimbursement or indemnification obligations to such Person, in each case
incurred in the ordinary course of business;

 

(j)  Indebtedness of
the Company or any Subsidiary (including obligations in respect of letters of
credit for the benefit of the issuer thereof) in respect of performance bonds,
bid bonds, appeal bonds, surety bonds, performance and completion guarantees
and similar obligations (other than in respect of other Indebtedness), in each
case provided in the ordinary course of business;

 

(k)  Indebtedness in
respect of Swap Agreements permitted by Section 6.05;

 

56

 

(l)  Indebtedness
arising in connection with customary cash management services and from the
honoring by a bank or financial institution of a check, draft or similar instrument
drawn against insufficient funds, in each case in the ordinary course of
business, provided that such Indebtedness is extinguished within five
Business Days after its incurrence;

 

(m)  Indebtedness
representing deferred compensation to employees of the Company or any
Subsidiary incurred in the ordinary course of business;

 

(n)  Indebtedness
consisting of promissory notes issued by the Company or any Subsidiary to
current or former officers, directors or employees or to their respective
estates, spouses or former spouses, in each case to finance the purchase or
redemption of Equity Interests (or any option, warrant or other right to
acquire any Equity Interests) permitted by Section 6.07;

 

(o)  customer deposits
and advance payments received by the Company or any Subsidiary in the ordinary
course of business from customers for goods or services purchased in the
ordinary course of business;

 

(p)  Indebtedness of
the Company or any Subsidiary consisting of (A) Indebtedness owed to any
insurance provider for the financing of insurance premiums so long as such
Indebtedness shall not be in excess of the amount of such premiums, and shall
be incurred only to defer the cost of such premiums, for the annual period in
which such Indebtedness is incurred or (B) take-or-pay obligations
contained in supply arrangements, in each case incurred in the ordinary course
of business; and

 

(q)  Indebtedness of
any Person that becomes a Subsidiary after the date hereof or is merged with
and into the Company or any Subsidiary, provided that such Indebtedness
exists at the time such Person becomes a Subsidiary or is merged with and into
the Company or such Subsidiary, as the case may be, and is not created in
contemplation of or in connection with such Person becoming a Subsidiary or
being merged with and into the Company or such Subsidiary, as the case may be,
and extensions, renewals, replacements and refinancings of any such
Indebtedness so long as the principal amount (or accreted value, if applicable)
of such extensions, renewals, replacements and refinancings does not exceed the
principal (or accreted value, if applicable) of the Indebtedness being
extended, renewed, replaced or refinanced (plus any accrued but unpaid
interest and redemption premium payable by the terms of such Indebtedness
thereon and other reasonable amounts paid, and reasonable fees and expenses
incurred, in connection with such extension, renewal, replacement or
refinancing; provided  further that, immediately after giving
effect to such incurrence of Indebtedness pursuant to this clause (q), no Event
of Default exists and the covenants in Section 6.10 would be met on a pro
forma basis.

 

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

 

(a)  Permitted
Encumbrances and Liens created under the Pledge Agreements;

 

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

 

57

 

interest and premium payable by the terms of
such obligations thereon and other reasonable amounts paid, and reasonable fees
and expenses incurred, in connection with such extension, renewal, replacement
or refinancing);

 

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

 

(d)  Liens on fixed or
capital assets acquired, constructed or improved by the Company or any
Subsidiary; provided that (i) such security interests secure
Indebtedness permitted by clause (e) of Section 6.01, (ii) such
security interests and the Indebtedness secured thereby are incurred prior to
or within ninety (90) days after such acquisition or the completion of
such construction or improvement, (iii) the Indebtedness secured thereby
does not exceed the cost of acquiring, constructing or improving such fixed or
capital assets and (iv) such security interests shall not apply to any
other property or assets of the Company or any Subsidiary;

 

(e)  Liens of a
collecting bank arising in the ordinary course of business under Section 4-208
of the Uniform Commercial Code in effect in the State of New York (or, if
applicable, the corresponding section of the Uniform Commercial Code in effect
in the relevant jurisdiction), in each case covering only the items being
collected upon;

 

(f)  Liens representing
any interest or title of a licensor, lessor, sublicensor or sublessor under any
lease or license permitted by this Agreement (so long as any such Lien does not
secure Indebtedness);

 

(g)  Liens attaching to
commodity trading accounts or brokerage accounts incurred in the ordinary
course of business;

 

(h)  pledges or
deposits in the ordinary course of business securing liability for
reimbursement or indemnification obligations to (including obligations in
respect of letters of credit or bank guarantees for the benefit of) insurance
carriers providing property, casualty or liability insurance to the Company or
any Subsidiary;

 

(i)  Liens representing
any interest of a licensee, lessee, sublicense or sublessee arising by virtue
of being granted a license, sublease, sublicense or sublease (including the
provision of software under an open source license) permitted by this Agreement
(so long as any such Lien does not secure any Indebtedness);

 

(j)  Liens in favor of
customs and revenue authorities arising as a matter of law to secure payment of
customs duties in connection with the importation of goods in the ordinary
course of business;

 

58

 

(k)  Liens arising out
of conditional sale, title retention, consignment or similar arrangements for
the sale of goods entered into by the Company or any Subsidiary in the ordinary
course of business;

 

(l)  Liens that are
customary contractual liens (including rights of set-off and pledges)
encumbering deposits and accounts and (A) relating to the establishment of
depository relations with banks or other financial institutions not given in
connection with the incurrence of any Indebtedness, (B) relating to pooled
deposit or sweep accounts of the Company or any Subsidiary to permit
satisfaction of overdraft or similar obligations incurred by the Company or any
Subsidiary in the ordinary course of business or (C) relating to purchase
orders and other agreements entered into with customers of the Company or any
Subsidiary in the ordinary course of business;

 

(m)  Liens solely on
cash earnest money deposits or deposits in connection with indemnity
obligations made by the Company or any Subsidiary in connection with any letter
of intent or purchase agreement entered into in connection with any acquisition
by the Company or any Subsidiary permitted hereunder;

 

(n)  Liens arising from
precautionary Uniform Commercial Code financing statement filings solely as a
precautionary measure in connection with operating leases or consignment of
goods;

 

(o)  Liens on insurance
policies and the proceeds thereof granted in the ordinary course of business to
secure the financing of insurance premiums with respect thereto as permitted
under Section 6.01(p);

 

(p)  customary Liens
securing any overdraft and related liabilities arising from treasury,
depository or cash management services or automated clearing house transfers of
funds, all in favor of the provider of such services;

 

(q)  any encumbrance or
restriction (including put and call arrangements) with respect to the transfer
of the Equity Interests of any joint venture or similar arrangement pursuant to
the terms thereof;

 

(r)  Liens on specific
items of inventory or other goods and the proceeds thereof securing obligations
in respect of documentary letters of credit or bankers’ acceptances issued or
created for the account of the Company or any Subsidiary in the ordinary course
of business to facilitate the purchase, shipment or storage of such inventory
or other goods;

 

(s)  Liens arising by
operation of law under §1120 of the German Civil Code (Bürgerliches
Gesetzbuch), under §369 of the German Commercial Code (Handelsgesetzbuch) or under similar provisions of Swiss law;
and

 

(t)  Liens on assets of
the Company and its Subsidiaries not otherwise permitted above so long as the
aggregate principal amount of the Indebtedness subject to such Liens does not
at any time exceed $25,000,000.

 

SECTION 6.03.  Fundamental Changes
and Asset Sales.  (a) The
Company will not, and will not permit any Subsidiary to, merge into or
consolidate with any other Person, or permit any other Person to merge into or
consolidate with it, or sell, transfer, lease or otherwise dispose of (in one
transaction or in a series of transactions) any of its assets, (including
pursuant to a Sale and Leaseback 

 

59

 

Transaction), or any of the Equity Interests
of any of its Subsidiaries (in each case, whether now owned or hereafter
acquired), or liquidate or dissolve, except that, if at the time thereof and
immediately after giving effect thereto no Default shall have occurred and be
continuing:

 

(i)  any Person may merge into the
Company in a transaction in which the Company is the surviving corporation;

 

(ii)  any Subsidiary may merge into a
Loan Party in a transaction in which the surviving entity is such Loan Party
(provided that any such merger involving the Company must result in the Company
as the surviving entity);

 

(iii)  any Subsidiary may sell,
transfer, lease or otherwise dispose of its assets to a Loan Party;

 

(iv)  the Company and its Subsidiaries
may (A) sell inventory in the ordinary course of business, (B) effect
sales, trade-ins or dispositions of used equipment for value in the ordinary
course of business consistent with past practice, (C) enter into licenses
of technology in the ordinary course of business, and (D) make any other
sales, transfers, leases or dispositions that, together with all other property
of the Company and its Subsidiaries previously leased, sold or disposed of as
permitted by this clause (D) during any fiscal year of the Company, does
not exceed 10% of Consolidated Total Assets (determined as of the end of the
most recently completed fiscal quarter of the Company);

 

(v)  any Subsidiary may liquidate or
dissolve if the Company determines in good faith that such liquidation or
dissolution is in the best interests of the Company and is not materially
disadvantageous to the Lenders;

 

(vi)  the Company may (in one
transaction or a series of transactions) transfer the Equity Interests in
Bruker BioSpin Invest AG to Bruker BioSpin Corp. following the BioSpin
Acquisition; or

 

(vii)  so long as no Default has
occurred and is then continuing or would arise after giving effect (including
pro forma effect) thereto, the Company and its Subsidiaries may consummate the
partial sale of the superconducting wire business of Bruker BioSpin GmbH, EAS
European Advanced Superconductors Verwaltungs GmbH, EAS European Advanced
Superconductors GmbH & Co. KG and EHTS European High Temperature
Superconductors GmbH & Co. KG.

 

(b)  The Company will
not, and will not permit any of its Subsidiaries to, engage to any material
extent in any business other than businesses of the type conducted by the
Company and its Subsidiaries on the date of execution of this Agreement and
businesses reasonably related thereto.

 

(c)  The Company will
not, nor will it permit any of its Subsidiaries to, change its fiscal year from
the basis in effect on the Effective Date.

 

SECTION 6.04.  Investments, Loans,
Advances, Guarantees and Acquisitions.  The Company will not, and will not permit any
of its Subsidiaries to, purchase, hold or acquire (including pursuant to any
merger with any Person that was not a wholly owned Subsidiary prior to such
merger) any capital stock, evidences of indebtedness or other securities
(including any option, warrant or other right to acquire any of the foregoing)
of, make or permit to exist any loans or advances to, Guarantee any obligations
of, or make or permit to exist any investment or any other interest in, any
other Person, or 

 

60

 

purchase or otherwise acquire (in one
transaction or a series of transactions) any Person or any assets of any other
Person constituting a business unit, except:

 

(a)  Permitted
Investments;

 

(b)  Permitted
Acquisitions;

 

(c)  investments by the
Borrowers existing on the date hereof in the capital stock of their
Subsidiaries;

 

(d)  investments, loans
or advances made by the Company in or to any Subsidiary and made by any
Subsidiary to the Company (provided that not more than $25,000,000 in
investments, loans or advances or capital contributions may be made and remain
outstanding, during the term of this Agreement, by any Loan Party to a
Subsidiary which is not a Loan Party).

 

(e)  Guarantees
constituting Indebtedness permitted by Section 6.01; and

 

(f)   any other investment, loan or advance (other
than acquisitions) so long as the aggregate amount of all such investments,
loans and advances does not exceed $50,000,000 during any fiscal year of the
Company; provided that no such Dollar limitation shall apply if the
Company has complied and remains in compliance with the Adjusted Covenant
Requirement.

 

SECTION 6.05.  Swap Agreements.  The Company will not, and will not permit any
of its Subsidiaries to, enter into any Swap Agreement, except (a) Swap
Agreements entered into to hedge or mitigate risks to which the Company or any
Subsidiary has actual exposure (other than those in respect of Equity Interests
of the Company or any of its Subsidiaries), and (b) Swap Agreements
entered into in order to effectively cap, collar or exchange interest rates
(from fixed to floating rates, from one floating rate to another floating rate
or otherwise) with respect to any interest-bearing liability or investment of
the Company or any Subsidiary.

 

SECTION 6.06.  Transactions with Affiliates.  The Company will not, and will not permit any
of its Subsidiaries to, sell, lease or otherwise transfer any property or
assets to, or purchase, lease or otherwise acquire any property or assets from,
or otherwise engage in any other transactions with, any of its Affiliates,
except (a) in the ordinary course of business at prices and on terms and
conditions not less favorable to the Company or such Subsidiary than could be
obtained on an arm’s-length basis from unrelated third parties, (b) transactions
between or among the Company and its wholly owned Subsidiaries not involving
any other Affiliate, (c)  any Restricted Payment permitted by Section 6.07;
(d) loans or advances to employees permitted under Section 6.04, (e) payroll,
travel, moving and similar advances to cover matters permitted under Section 6.04,
(f) the payment of reasonable fees to, and the reimbursement of reasonable
out-of-pocket expenses (to the extent incurred in any such Person’s capacity as
a director) of, directors of the Company or any Subsidiary who are not
employees of the Company or any Subsidiary, and compensation, severance and
employee benefit arrangements paid to, and indemnities provided for the benefit
of, directors, officers or employees of the Company or the Subsidiaries in the
ordinary course of business, (g) any issuances of securities or other
payments, awards  or grants in cash,
securities or otherwise pursuant to, or the funding of, employment agreements,
stock options and stock ownership plans approved by the Company’s board of
directors (or a committee thereof), (h) employment and severance
arrangements or similar arrangements entered into in the ordinary course of
business between the Company or any Subsidiary and any thereof, provided
that (i) in the case of any such arrangement entered into with an employee
of the Company, such arrangement shall have been approved by the Company’s
board of directors (or a committee thereof), (ii) in the case of any such
arrangement entered into with an employee of any other Loan Party (other than
any such employee that is also an 

 

61

 

employee of the Company (in which case
subclause (i) of this clause (h) would apply) that could result in
cash payments to such employee in excess of $500,000, such arrangement shall
have been approved by the Company’s board of directors (or a committee thereof)
and (iii) in the case of any such arrangement entered into with an
employee of a Subsidiary that is not a Loan Party (other than any such employee
that is also an employee of the Company (in which case subclause (i) of
this clause (h) would apply) or any other Loan Party (in which case
subclause (ii) of this clause (h) would apply)) that could result in
cash payments to such employee in excess of $1,000,000, such arrangement shall
have been approved by the Company’s board of directors (or a committee thereof)
(it being understood, for purposes of clarity, that the term “employee” as used
in this clause (h) shall refer only to such employees that are Affiliates
of the Company or the applicable Subsidiary, as the case may be), and (i) all
payments and other consideration (whether in the form of cash, stock or
otherwise) made on the Effective Date to consummate the BioSpin Acquisition.

 

SECTION 6.07.  Restricted Payments.  The Company will not, and will not permit any
of its Subsidiaries to, declare or make, or agree to pay or make, directly or
indirectly, any Restricted Payment, (it being understood and agreed that the
Company and the Subsidiaries shall be permitted to agree to pay or make a
Restricted Payment, or incur any obligation (contingent or otherwise) to do so,
so long as the actual payment or making of such Restricted Payment is
contingent upon (x) receipt of the consent therefor (via a waiver or
amendment to this Section 6.07) from the requisite number of Lenders in
accordance with Section 9.02 or (y) the Commitments having expired or
been terminated and the principal of and interest on each Loan and all fees,
expenses and other amounts payable (other than contingent amounts not yet due)
under any Loan Document having been paid in full and all Letters of Credit
having expired or been terminated (or otherwise having become subject to cash
collateralization or other arrangements reasonably satisfactory to the
Administrative Agent and the Issuing Bank (including in respect of fees that
would otherwise be payable in connection with such Letters of Credit pursuant
to the terms of this Agreement), and all LC Disbursements having been
reimbursed, except (a) the Company may declare and pay dividends with
respect to its Equity Interests payable solely in additional shares of its
common stock, (b) Subsidiaries may declare and pay dividends ratably with
respect to their Equity Interests, (c) the Company may make Restricted
Payments pursuant to and in accordance with stock option plans or other benefit
plans for management or employees of the Company and its Subsidiaries, (d) the
Company may pay the consideration in respect of the BioSpin Acquisition on the
Effective Date; and (e) the Company and its Subsidiaries may make any
other Restricted Payment so long as no Default or Event of Default has occurred
and is continuing prior to making such Restricted Payment or would arise after
giving effect (including pro forma effect) thereto and the aggregate amount of
such Restricted Payments does not exceed $25,000,000 during any fiscal year of
the Company; provided that no such Dollar limitation shall apply if the
Company has complied and remains in compliance with the Adjusted Covenant
Requirement

 

SECTION 6.08.  Restrictive Agreements.  The Company will not, and will not permit any
of its Subsidiaries to, directly or indirectly, enter into, incur or permit to
exist any agreement or other arrangement that prohibits, restricts or imposes
any condition upon (a) the ability of the Company or any Subsidiary to
create, incur or permit to exist any Lien upon any of its property or assets,
or (b) the ability of any Subsidiary to pay dividends or other
distributions with respect to holders of its Equity Interests or to make or
repay loans or advances to the Company or any other Subsidiary or to Guarantee
Indebtedness of the Company or any other Subsidiary; provided that (i) the
foregoing shall not apply to restrictions and conditions imposed by law or by
any Loan Document, (ii) the foregoing shall not apply to customary
restrictions and conditions contained in agreements relating to the sale of a
Subsidiary pending such sale, provided such restrictions and conditions apply
only to the Subsidiary that is to be sold and such sale is permitted hereunder,
(iii) clause (a) of the foregoing shall not apply to restrictions or
conditions imposed by any agreement relating to secured Indebtedness permitted
by this Agreement if such restrictions or conditions apply only to the property
or assets securing such Indebtedness, (iv) clause (a) of the
foregoing 

 

62

 

shall not apply to customary provisions in
leases and other contracts restricting the assignment thereof, (v) the
foregoing shall not apply to restrictions on cash or other deposits imposed by
customers of the Company or any Subsidiary under contracts entered into in the
ordinary course of business, (v) the foregoing shall not apply to
restrictions (A) set forth in any instrument or agreement governing the
terms of Indebtedness permitted under Section 6.01(q) or (B) that
are binding on a non-Loan Party Subsidiary at the time such Person first
becomes a Subsidiary or any assets acquired by a non-Loan Party Subsidiary at
the time such assets are acquired, in the case of each of clauses (A) and
(B), so long as such restrictions were not created in contemplation of such
Person becoming a Subsidiary or the acquisition of such assets and apply only
to the assets of such Subsidiary or such assets so acquired, as the case may
be, (vi) the foregoing shall not apply to restrictions arising in
connection with the incurrence of Indebtedness permitted under Section 6.01
by any Subsidiary that is not a Loan Party, and (viii) the forgoing shall
not apply to restrictions under arrangements with any Governmental Authority
imposed on any Foreign Subsidiary in connection with government grants,
financial aid, subsidies, tax holidays or other similar benefits or economic
incentives (so long as such restrictions apply only to the assets of such
Foreign Subsidiary).

 

SECTION 6.09.  Subordinated
Indebtedness and Amendments to Subordinated Indebtedness Documents.  The Company will not, and will not permit any
Subsidiary to, directly or indirectly voluntarily prepay, defease or in
substance defease, purchase, redeem, retire or otherwise acquire, any
Subordinated Indebtedness or any Indebtedness from time to time outstanding
under the Subordinated Indebtedness Documents. 
Furthermore, the Company will not, and will not permit any Subsidiary
to, amend the Subordinated Indebtedness Documents or any document, agreement or
instrument evidencing any Indebtedness incurred pursuant to the Subordinated
Indebtedness Documents (or any replacements, substitutions, extensions or
renewals thereof) or pursuant to which such Indebtedness is issued where such
amendment, modification or supplement provides for the following or which has
any of the following effects:

 

(a)           increases the overall principal amount of any such
Indebtedness or increases the amount of any single scheduled installment of
principal or interest;

 

(b)           shortens or accelerates the date upon which any
installment of principal or interest becomes due or adds any additional
mandatory redemption provisions;

 

(c)           shortens the final maturity date of such Indebtedness or
otherwise accelerates the amortization schedule with respect to such
Indebtedness;

 

(d)           increases the rate of interest accruing on such
Indebtedness;

 

(e)           provides for the payment of additional fees or increases
existing fees;

 

(f)            amends or modifies any financial or negative covenant (or
covenant which prohibits or restricts the Company or any Subsidiary from taking
certain actions) in a manner which is more onerous or more restrictive in any
material respect to the Company or such Subsidiary or which is otherwise
materially adverse to the Company, any Subsidiary and/or the Lenders or, in the
case of any such covenant, which places material additional restrictions on the
Company or such Subsidiary or which requires the Company or such Subsidiary to
comply with more restrictive financial ratios or which requires the Company to
better its financial performance, in each case from that set forth in the
existing applicable covenants in the Subordinated Indebtedness Documents or the
applicable covenants in this Agreement; or

 

63

 

(g)           amends, modifies or adds any affirmative covenant in a
manner which (i) when taken as a whole, is materially adverse to the
Company, any Subsidiary and/or the Lenders or (ii) is more onerous than
the existing applicable covenant in the Subordinated Indebtedness Documents or
the applicable covenant in this Agreement.

 

SECTION 6.10.  Financial Covenants.

 

(a)  Maximum
Leverage Ratio.   The Company will
not permit the ratio (the “Leverage Ratio”), determined as of the end of
each of its fiscal quarters ending on and after March 31, 2008, of (i) Consolidated
Total Indebtedness to (ii) Consolidated EBITDA for the period of four (4) consecutive
fiscal quarters ending with the end of such fiscal quarter, all calculated for
the Company and its Subsidiaries on a consolidated basis, to be greater than
3.00 to 1.00.

 

(b)  Minimum
Interest Coverage Ratio.  The Company
will not permit the ratio (the “Interest Coverage Ratio”), determined as
of the end of each of its fiscal quarters ending on and after March 31,
2008, of (i) Consolidated EBIT to (ii) Consolidated Interest Expense,
in each case for the period of four (4) consecutive fiscal quarters ending
with the end of such fiscal quarter, all calculated for the Company and its
Subsidiaries on a consolidated basis, to be less than 3.00 to 1.00.

 

ARTICLE VII

 

Events of Default

 

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

 

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

 

(b)  any Borrower shall
fail to pay any interest on any Loan or any fee or any other amount (other than
an amount referred to in clause (a) of this Article) payable under this
Agreement, when and as the same shall become due and payable, and such failure
shall continue unremedied for a period of three (3) Business Days;

 

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

 

(d)  (i) any
Borrower shall fail to observe or perform any covenant, condition or agreement
contained in Section 5.02, 5.03 (with respect to any Borrower’s
existence), 5.08, 5.09 or 5.10, in Article VI or in Article X or (ii) any
Loan Document shall for any reason not be or shall cease to be in full force
and effect or is declared to be null and void, or any party thereto takes any
action for the purpose of terminating, repudiating or rescinding any Loan
Document or any of its obligations thereunder;

 

(e)  any Borrower or
any Subsidiary Guarantor, as applicable, shall fail to observe or perform any
covenant, condition or agreement contained in this Agreement (other than those
specified in clause (a), (b) or (d) of this Article) or any other
Loan Document, and such failure shall continue 

 

64

 

unremedied for a period of thirty (30) days
after notice thereof from the Administrative Agent to the Company (which notice
will be given at the request of any Lender);

 

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

 

(g)  any event or
condition occurs that results in any Material Indebtedness becoming due prior
to its scheduled maturity or that enables or permits (with or without the
giving of notice, the lapse of time or both) the holder or holders of any
Material Indebtedness or any trustee or agent on its or their behalf to cause
any Material Indebtedness to become due, or to require the prepayment,
repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (g) shall not
apply to secured Indebtedness that becomes due as a result of the voluntary
sale or transfer or other disposition (including as a result of a casualty or
condemnation event) of the property or assets securing such Indebtedness;

 

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

 

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

 

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

 

(k)  without prejudice
to the provisions of clauses (h) to (j) (each inclusive), any of the
following occurs in respect of a German Borrower or a German Subsidiary: (i) it
is or admits to be, unable to pay its debts as they fall due (Zahlungsunfähigkeit) within the meaning of section 17 of the
German Insolvency Code (Insolvenzordung),
or it suspends (aussetzen) making payments on all
or a material part of its debts or it announces an intention to do so or
commences negotiations with one or more of its creditors with a view to
rescheduling any of its indebtedness; or (ii) it is over-indebted (Überschuldung) within the meaning of section 19 of the
German Insolvency Code (Insolvenzordung);
or (iii) for any of the reasons set out in section 17 through 19
(inclusive) of the German Insolvency Code (Insolvenzordung),
it files for insolvency in accordance with the German Insolvency Code (Antrag auf Eröffnung eines Insolvenzverfahrens) or its
directors are required by law to file for insolvency; or (iv) a third
party creditor files for insolvency against it unless the petition is frivolous
or vexatious and is discharged or dismissed within 60 days of commencement or,
if earlier, the date on which it is advertised; or (v) a competent court
takes any of the actions set out in section 21 of the German Insolvency Code 

 

65

 

(Insolvenzordung)
or a competent court institutes or rejects (for reason of insufficiency of its
funds to implement such proceedings) insolvency proceedings against it (Eröffnung des Insolvenzverfahrens);

 

(l)  without prejudice
to the provisions of clauses (h) to (j) inclusive, any of the
following occurs in respect of a Swiss Borrower or a Swiss Subsidiary: (i) it
is deemed unable or admits
inability to pay its debts as they fall due or is deemed to or declared to be
unable to pay its debts or insolvent (zahlungsunfähig)
under applicable law, (ii) it ceases or suspends making payments on any of
its debts or announces any intention to do so (or is so deemed for the purposes
of any law applicable to it), (iii) 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 (iv) it
files a petition for the opening of bankruptcy proceedings because of
insolvency (Zahlungsunfähigkeit) pursuant to Section 191(1) of
the Swiss Federal Debt Enforcement and Bankruptcy Act (Bundesgesetz
über Schuldbetreibung und Konkurs);

 

(m)  one or more
judgments for the payment of money in an aggregate amount in excess of
$15,000,000 (to the extent not covered by independent third-party insurance as
to which the insurer has been notified of such judgment and has not denied or
failed to acknowledge coverage thereof) shall be rendered against the Company,
any Subsidiary or any combination thereof and the same shall remain
undischarged for a period of sixty (60) consecutive days during which execution
shall not be effectively stayed, or any action shall be legally taken by a
judgment creditor to attach or levy upon any assets of the Company or any
Subsidiary to enforce any such judgment;

 

(n)  an ERISA Event
shall have occurred that, in the opinion of the Required Lenders, when taken
together with all other ERISA Events that have occurred, could reasonably be
expected to result in a Material Adverse Effect;

 

(o)  a Change in
Control shall occur;

 

(p)  the occurrence of
any “default”, as defined in any Loan Document (other than this Agreement) or
the breach of any of the terms or provisions of any Loan Document (other than
this Agreement), which default or breach continues beyond any period of grace
therein provided;

 

(q)  any material
provision of any Loan Document for any reason ceases to be valid, binding and
enforceable in accordance with its terms; or

 

(r)  any Pledge
Agreement shall for any reason fail to create a valid and perfected first
priority security interest in any Pledged Equity purported to be covered
thereby, or any action shall be taken by or on behalf of any Borrower or any
Subsidiary to discontinue or to assert the invalidity or unenforceability of
any Pledge Agreement;

 

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

 

66

 

(i) of this Article,
the Commitments shall automatically terminate and the principal of the Loans
then outstanding, together with accrued interest thereon and all fees and other
Obligations accrued hereunder and under the other Loan Documents, shall
automatically become due and payable, without presentment, demand, protest or
other notice of any kind, all of which are hereby waived by the Borrowers.

 

Any
proceeds of Pledged Equity received by the Administrative Agent after an Event
of Default has occurred and is continuing and the Administrative Agent so elects
or the Required Lenders so direct, such funds shall be applied ratably first, to pay any fees, indemnities, or expense
reimbursements including amounts then due to the Administrative Agent and the
Issuing Bank, each in its capacity as such, from the Loan Parties, second, to pay any fees or expense reimbursements
then due to the Lenders from the Loan Parties, third,
to pay interest then due and payable on the Loans ratably, fourth, on a ratable basis, to repay and prepay
principal on the Loans and unreimbursed LC Disbursements,  to pay an
amount to the Administrative Agent equal to one hundred five percent (105%) of
the aggregate undrawn face amount of all outstanding Letters of Credit and the
aggregate amount of any unpaid LC Disbursements to be held as cash collateral
for such Obligations, to payment of any amounts owing with respect to Banking
Services Obligations and Swap Obligations, and fifth,
to the payment of any other Obligation due to the Administrative Agent or any
Lender by the Loan Parties.  The
Administrative Agent and the Lenders shall have the continuing and exclusive
right to apply and reverse and reapply any and all such proceeds and payments
to any portion of the Obligations.

 

ARTICLE VIII

 

The Administrative Agent

 

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

 

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

 

The Administrative Agent
shall not have any duties or obligations except those expressly set forth in
the Loan Documents.  Without limiting the
generality of the foregoing, (a) the Administrative Agent shall not be
subject to any fiduciary or other implied duties, regardless of whether a
Default has occurred and is continuing, (b) the Administrative Agent shall
not have any duty to take any discretionary action or exercise any discretionary
powers, except discretionary rights and powers expressly contemplated by the
Loan Documents that the Administrative Agent is required to exercise in writing
as directed by the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary under the circumstances as provided in Section 9.02),
and (c) except as expressly set forth in the Loan Documents, the
Administrative Agent shall not have any duty to disclose, and shall not be
liable for the failure to disclose, any information relating to the Company or
any of its Subsidiaries that is communicated to or obtained by the bank serving
as 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 with the consent or at the request of
the Required Lenders (or such other number or percentage of the Lenders as
shall be necessary under the circumstances as provided in Section 9.02) or
in the absence of its own gross negligence or willful misconduct.  The Administrative Agent shall be deemed not
to have knowledge of 

 

67

 

any
Default unless and until written notice thereof is given to the Administrative
Agent by the Company or a Lender, and the Administrative Agent shall not be
responsible for or have any duty to ascertain or inquire into (i) any
statement, warranty or representation made in or in connection with any Loan
Document, (ii) the contents of any certificate, report or other document
delivered hereunder or in connection with any Loan Document, (iii) the
performance or observance of any of the covenants, agreements or other terms or
conditions set forth in any Loan Document, (iv) the validity,
enforceability, effectiveness or genuineness of any Loan Document or any other
agreement, instrument or document, (v) the satisfaction of any condition
set forth in Article IV or elsewhere in any Loan Document, other than to
confirm receipt of items expressly required to be delivered to the Administrative
Agent or (vi) the creation, perfection or priority of Liens on the Pledged
Equity or the existence of the Pledged Equity.

 

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

 

The Administrative Agent may
perform any and all its duties and exercise its rights and powers 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 its duties and exercise its rights and powers
through their respective Related Parties. 
The exculpatory provisions of the preceding paragraphs shall apply to
any such sub-agent and to the Related Parties of 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.

 

Subject to the appointment
and acceptance of a successor Administrative Agent as provided in this
paragraph, the Administrative Agent may resign at any time by notifying the
Lenders, the Issuing Bank and the Company. 
Upon any such resignation, the Required Lenders shall have the right, in
consultation with the Company, to appoint a successor.  If no successor shall have been so appointed
by the Required Lenders and shall have accepted such appointment within 30 days
after the retiring Administrative Agent gives notice of its resignation, then
the retiring Administrative Agent may, on behalf of the Lenders and the Issuing
Bank, appoint a successor Administrative Agent which shall be a bank with an
office in New York, New York, or an Affiliate of any such bank.  Upon the acceptance of its appointment as
Administrative Agent hereunder by a successor, such successor shall succeed to
and become vested with all the rights, powers, privileges and duties of the
retiring Administrative Agent, and the retiring Administrative Agent shall be
discharged from its duties and obligations hereunder.  The fees payable by any Borrower to a
successor Administrative Agent shall be the same as those payable to its
predecessor unless otherwise agreed between such Borrower and such
successor.  After the Administrative
Agent’s resignation hereunder, the provisions of this Article and Section 9.03
shall continue in effect for the benefit of such retiring Administrative Agent,
its sub-agents and their respective Related Parties in respect of any actions
taken or omitted to be taken by any of them while it was acting as
Administrative Agent.

 

Each Lender acknowledges
that it has, independently and without reliance upon the Administrative Agent
or any other Lender and based on such documents and information as it has
deemed appropriate, made its own credit analysis and decision to enter into
this Agreement.  Each Lender also
acknowledges that it will, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and
information as it shall from time to time deem appropriate, 

 

68

 

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.

 

None of the Lenders, if any,
identified in this Agreement as a Syndication Agent or Co-Documentation Agent
shall have any right, power, obligation, liability, responsibility or duty
under this Agreement other than those applicable to all Lenders as such.  Without limiting the foregoing, none of such
Lenders shall have or be deemed to have a fiduciary relationship with any
Lender.  Each Lender hereby makes the
same acknowledgments with respect to the relevant Lenders in their respective
capacities as Syndication Agent or Co-Documentation Agents, as applicable, as
it makes with respect to the Administrative Agent in the preceding paragraph.

 

In its capacity, the Administrative Agent is a “representative” of the
Secured Parties within the meaning of the term “secured party” as defined in
the New York Uniform Commercial Code. 
Each Lender authorizes the Administrative Agent to enter into each of
the Pledge Agreements to which it is a party and to take all action
contemplated by such documents.  Each
Lender agrees that no Secured Parties (other than the Administrative Agent)
shall have the right individually to seek to realize upon the security granted
by any Pledge Agreement, it being understood and agreed that such rights and
remedies may be exercised solely by the Administrative Agent for the benefit of
the Secured Parties upon the terms of the Pledge Agreements.  In the event that any Pledged Equity is hereafter pledged by any Person
as collateral security for the Obligations, the Administrative Agent is hereby
authorized, and hereby granted a power of attorney, to execute and deliver on
behalf of the Secured Parties any Loan Documents necessary or appropriate to
grant and perfect a Lien on such Pledged Equity in favor of the Administrative Agent on behalf of the
Secured Parties.  The Lenders hereby
authorize the Administrative Agent, at its option and in its discretion, to
release any Lien granted to or held by the Administrative Agent upon any Pledged
Equity (i) as permitted
by, but only in accordance with, the terms of the applicable Loan Document; or (ii) if
approved, authorized or ratified in writing by the Required Lenders, unless
such release is required to be approved by all of the Lenders hereunder.  Upon request by the Administrative Agent at
any time, the Lenders will confirm in writing the Administrative Agent’s
authority to release particular types or items of Pledged Equity pursuant hereto.  Upon any sale or transfer of assets
constituting Pledged Equity which is permitted pursuant to the terms of any Loan Document, or
consented to in writing by the Required Lenders or all of the Lenders, as
applicable, and upon at least five Business Days’ prior written request by the
Company to the Administrative Agent, the Administrative Agent shall (and is
hereby irrevocably authorized by the Lenders to) execute such documents as may
be necessary to evidence the release of the Liens granted to the Administrative
Agent for the benefit of the Secured Parties herein or pursuant hereto upon the
Pledged Equity that was
sold or transferred; provided, however, that (i) the Administrative Agent
shall not be required to execute any such document on terms which, in the
Administrative Agent’s opinion, would expose the Administrative Agent to
liability or create any obligation or entail any consequence other than the
release of such Liens without recourse or warranty, and (ii) such release
shall not in any manner discharge, affect or impair the Obligations or any Liens upon (or obligations
of the Company or any Subsidiary in respect of) all interests retained by the
Company or any Subsidiary, including (without limitation) the proceeds of the
sale, all of which shall continue to constitute part of the Pledged
Equity.

 

Each Borrower, on its behalf
and on behalf of its Subsidiaries, and each Lender, on its behalf and on the
behalf of its affiliated Secured Parties, hereby irrevocably constitute the Administrative
Agent as the holder of an irrevocable power of attorney (fondé de
pouvoir within the meaning of Article 2692 of the Civil Code of
Québec) in order to hold hypothecs and security granted by each Borrower or any
Subsidiary on property pursuant to the laws of the Province of Quebec to secure
obligations of any Borrower or any Subsidiary under any bond, debenture or
similar title of indebtedness issued by any Borrower or any Subsidiary in
connection with this Agreement, and agree that the Administrative Agent may act
as the bondholder and mandatary with respect to any bond, debenture or similar
title of 

 

69

 

indebtedness
that may be issued by any Borrower or any Subsidiary and pledged in favor of the
Secured Parties in connection with this Agreement.  Notwithstanding the provisions of Section 32
of the An Act respecting the special powers of legal persons (Quebec), JPMorgan
Chase Bank, N.A. as Administrative Agent may acquire and be the holder of any
bond issued by any Borrower or any Subsidiary in connection with this Agreement
(i.e., the fondé de pouvoir may acquire and hold
the first bond issued under any deed of hypothec by any Borrower or any
Subsidiary).

 

The Administrative Agent is
hereby authorized to execute and deliver any documents necessary or appropriate
to create and perfect the rights of pledge for the benefit of the Secured
Parties including a right of pledge with respect to the entitlements to
profits, the balance left after winding up and the voting rights of the Company
as ultimate parent of any subsidiary of the Company which is organized under
the laws of the Netherlands and the Equity Interests of which are pledged in
connection herewith (a “Dutch Pledge”). 
Without prejudice to the provisions of this Agreement and the other Loan
Documents, the parties hereto acknowledge and agree with the creation of
parallel debt obligations of the Company or any relevant Subsidiary as will be
described in any Dutch Pledge (the “Parallel Debt”), including that any
payment received by the Administrative Agent in respect of the Parallel Debt
will - conditionally upon such payment not subsequently being avoided or
reduced by virtue of any provisions or enactments relating to bankruptcy,
insolvency, preference, liquidation or similar laws of general application - be
deemed a satisfaction of a pro rata portion of the corresponding amounts of the
Obligations, and any payment to the Secured Parties in satisfaction of the
Obligations shall - conditionally upon such payment not subsequently being
avoided or reduced by virtue of any provisions or enactments relating to
bankruptcy, insolvency, preference, liquidation or similar laws of general
application - be deemed as satisfaction of the corresponding amount of the
Parallel Debt.  The parties hereto
acknowledge and agree that, for purposes of a Dutch Pledge, any resignation by
the Administrative Agent is not effective until its rights under the Parallel
Debt are assigned to the successor Administrative Agent.

 

Without prejudice to the
provisions of this Agreement and the other Loan Documents, the parties hereto
acknowledge and agree for the purposes of taking and ensuring the continuing
validity of German law governed pledges (Pfandrechte)
with the creation of parallel debt obligations of the Company as will be
further described in a German law governed parallel debt undertaking.  The Administrative Agent shall (i) hold
such parallel debt undertaking as fiduciary agent (Treuhänder)
and (ii) administer and hold as fiduciary agent (Treuhänder)
any pledge created under a German law governed Pledge Agreement which is
created in favor of any Secured Party or transferred to any Secured Party due
to its accessory nature (Akzessorietät),
in each case in its own name and for the account of the Secured Parties.  Each Lender (on behalf of itself and its
affiliated Secured Parties) hereby authorizes the Administrative Agent to enter
as its representative in its name and on its behalf into any German law
governed Pledge Agreement, accept as its representative in its name and on its
behalf any pledge under such Pledge Agreement and to agree to and execute on
its behalf as its representative in its name and on its behalf amendments,
supplements and other alterations to any such Pledge Agreement and to release
on behalf of any such Lender or Secured Party any such Pledge Agreement and any
pledge created under any such Pledge Agreement in accordance with the
provisions herein and/or the provisions in such Pledge Agreement.

 

Without prejudice to the
provisions of this Agreement and the other Loan Documents, the parties hereto
acknowledge and agree for the purposes of taking and ensuring the continuing
validity of Swiss law governed pledges, the Administrative Agent shall hold: (i) the
security that it holds under a Swiss law governed pledge that is accessory in
nature (akzessorisch) for itself and for and on
behalf of the Secured Parties as a direct representative (direkte
Stellvertretung) and (ii) the security that it holds under a Swiss
law governed pledge that is non-accessory in nature (nicht-akzessorisch)
as an agent for the benefit of the Secured Parties (Halten unter
einem Treuhandverhältnis). With regards to each pledge governed by
Swiss law, each Lender (on behalf of itself and its affiliated Secured Parties)
hereby appoints and 

 

70

 

authorizes
the Administrative Agent (i) to enter into, do all actions required in
connection with and enforce (all in accordance with this Agreement) each Loan
Document that is non-accessory in nature (nicht-akzessorisch)
in its own name, but for the benefit of the other Secured Parties, and (ii) to
enter into, do all actions required in connection with and enforce (all in
accordance with this Agreement) each Loan Document that is accessory in nature
(akzessorisch) for itself and for and on
behalf of the other Secured Parties as a direct representative (direkter Stellvertreter) and each of the Lenders (on behalf
of itself and its affiliated Secured Parties) and the Borrowers acknowledge
that each Secured Party (including, without limitation, any future Secured
Party) will be a party to such Loan Document.

 

ARTICLE IX

 

Miscellaneous

 

SECTION 9.01.  Notices.  (a)  Except in the case of notices and
other communications expressly permitted to be given by telephone (and subject
to paragraph (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 telecopy, as
follows:

 

(i)   if to any Borrower, to
it c/o Bruker BioSciences Corporation, 40 Manning Park, Billerca, Massachusetts
01821, Attention of William J. Knight, Chief Financial Officer (Telecopy No. (978)
667-5993; Telephone No. (978) 663-3660 ext. 1122), with a copy to the
attention of Brian Monahan, Vice President-Corporate Controller, (Telecopy No. (978)
663-2471; Telephone No. (978) 663-3660 ext. 1126;

 

(ii)   if to the
Administrative Agent, (A) in the case of Borrowings by the Company
denominated in Dollars, to JPMorgan Chase Bank, N.A., 10 South Dearborn, 7th
Floor, Chicago, Illinois 60603, Attention of Teresita Siao (Telecopy No. (312)
385-7096) and (B) in the case of Borrowings by any Foreign Subsidiary
Borrower or Borrowings denominated in Foreign Currencies, to J.P. Morgan Europe
Limited, 125 London Wall, London EC2Y 5AJ, Attention of Maxine Graves (Telecopy
No. 44 207 777 2360), and in each case with a copy to JPMorgan Chase Bank,
N.A., Two Corporate Drive, Suite 730, Shelton, CT 06484, Attention of
Scott Farquhar (Telecopy No.(203) 944-8495);

 

(iii)   if to the Issuing
Bank, to it at JPMorgan Chase Bank, N.A., 10 South Dearborn, 7th Floor,
Chicago, Illinois 60603, Attention of Teresita Siao (Telecopy No. (312) 385-7096);

 

(iv)   if to the Swingline
Lender, to it at JPMorgan Chase Bank, N.A., 10 South Dearborn, 7th Floor,
Chicago, Illinois 60603, Attention of Teresita Siao (Telecopy No. (312)
385-7096); and

 

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

 

(b)   Notices
and other communications to the Lenders hereunder may be delivered or furnished
by electronic communications pursuant to procedures approved by the
Administrative Agent; provided that the foregoing shall not apply to
notices pursuant to Article II unless otherwise agreed by the
Administrative Agent and the applicable Lender. 
The Administrative Agent or the Company 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.

 

71

 

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

 

SECTION 9.02.  Waivers; Amendments.  (a)  No failure or delay by the
Administrative Agent, the Issuing Bank or any Lender in exercising any right or
power hereunder or under any other Loan Document shall operate as a waiver
thereof, nor shall any single or partial exercise of any such right or power,
or any abandonment or discontinuance of steps to enforce such a right or power,
preclude any other or further exercise thereof or the exercise of any other
right or power.  The rights and remedies
of the Administrative Agent, the Issuing Bank and the Lenders hereunder and
under the other Loan Documents are cumulative and are not exclusive of any
rights or remedies that they would otherwise have.  No waiver of any provision of any Loan
Document or consent to any departure by any Borrower therefrom shall in any
event be effective unless the same shall be permitted by paragraph (b) of
this Section, and then such waiver or consent shall be effective only in the
specific instance and for the purpose for which given.  Without limiting the generality of the
foregoing, the making of a Loan or issuance of a Letter of Credit shall not be
construed as a waiver of any Default, regardless of whether the Administrative
Agent, any Lender or the Issuing Bank may have had notice or knowledge of such
Default at the time.

 

(b)  Except as provided
in Section 2.20 with respect to an Incremental Term Loan Amendment or
pursuant to any fee letter entered into by the Company in connection with this
Agreement, neither this Agreement nor any provision hereof may be waived,
amended or modified except pursuant to an agreement or agreements in writing
entered into by the Borrowers and the Required Lenders or by the Borrowers and
the Administrative Agent with the consent of the Required Lenders; provided that no such agreement shall (i) increase  any Commitment of any Lender without the
written consent of such Lender, (ii) reduce or forgive the principal
amount of any Loan or LC Disbursement or reduce the rate of interest thereon,
or reduce any fees payable hereunder, without the written consent of each
Lender directly affected thereby, (iii) postpone the scheduled date of
payment of the principal amount of any Loan or LC Disbursement, or any interest
thereon, or any fees payable hereunder, or reduce the amount of, waive or
excuse any such payment, or postpone the scheduled date of expiration of any
Commitment, without the written consent of each Lender directly affected
thereby, (iv) change Section 2.18(b) or (c) in a manner
that would alter the pro rata sharing of payments required thereby, without the
written consent of each Lender, (v) change any of the provisions of this Section or
the definition of “Required Lenders” or any other provision hereof specifying
the number or percentage of Lenders required to waive, amend or modify any
rights hereunder or make any determination or grant any consent hereunder,
without the written consent of each Lender (it being understood that, solely
with the consent of the parties prescribed by Section 2.20 to be parties
to an Incremental Term Loan Amendment, Incremental Term Loans may be included
in the determination of Required Lenders on substantially the same basis as the
Commitments and the Loans are included on the Effective Date) or (vi) release
the Company or all or substantially all of the Subsidiary Guarantors from their
obligations under Article X or the Subsidiary Guaranty or release all or
substantially all of the Pledged Equity, as applicable, without the written
consent of each Lender; provided  further that no such agreement shall amend,
modify or otherwise affect the rights or duties of the Administrative Agent,
the Issuing Bank or the Swingline Lender hereunder without the prior written
consent of the Administrative Agent, the Issuing Bank or the Swingline Lender,
as the case may be.

 

(c)  Notwithstanding
the foregoing, this Agreement and any other Loan Document may be amended (or
amended and restated) with the written consent of the Required Lenders, the
Administrative Agent and each Borrower to each relevant Loan Document (x) to
add Incremental Term Loans to share ratably in the benefits of this Agreement
and the other Loan Documents with the Loans 

 

72

 

and the accrued interest and fees in respect
thereof and (y) to include appropriately the Lenders holding such
Incremental Term Loans in any determination of the Required Lenders and
Lenders.

 

(d)  In connection with
any proposed amendment, modification, waiver or termination (a “Proposed
Change”) requiring the consent of all Lenders or all affected Lenders, if
the consent of the Required Lenders to such Proposed Change is obtained, but
the consent to such Proposed Change of other Lenders whose consent is required
is not obtained (any such Lender whose consent is not obtained as described in
this Section being referred to as a “Non-Consenting Lender”), then,
so long as the Lender that is acting as Administrative Agent is not a
Non-Consenting Lender, the Company may, at its sole expense and effort, upon
notice to such Non-Consenting Lender and the Administrative Agent, require such
Non-Consenting Lender to assign and delegate, without recourse (in accordance
with and subject to the restrictions contained in Section 9.04), all its
interests, rights and obligations under this Agreement to an assignee that
shall assume such obligations (which assignee may be another Lender, if a
Lender accepts such assignment), provided that (a) the Company
shall have received the prior written consent of the Administrative Agent (and,
if a Revolving Commitment is being assigned, the Issuing Bank), which consent
shall not unreasonably be withheld or delayed, (b) such Non-Consenting
Lender shall have received payment of an amount equal to the outstanding
principal of its Loans and participations in LC Disbursements and Swingline
Loans, accrued and unpaid interest thereon, accrued and unpaid fees and all
other amounts payable to it hereunder from the assignee (to the extent of such
outstanding principal and accrued and unpaid interest and fees) or the Company
(in the case of all other amounts), and (c) such assignee shall have paid
to the Administrative Agent the processing and recordation fee specified in Section 9.04(b).

 

SECTION 9.03.  Expenses; Indemnity;
Damage Waiver.  (a)  The
Company 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 and distribution (including, without
limitation, via the internet or through a service such as Intralinks) of the
credit facilities provided for herein, the preparation 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 Issuing Bank in connection with the
issuance, amendment, renewal or extension of any Letter of Credit or any demand
for payment thereunder and (iii) all reasonable out-of-pocket expenses
incurred by the Administrative Agent, the Issuing Bank or any Lender (including
the reasonable fees, charges and disbursements of one primary counsel and one
additional local counsel in each applicable jurisdiction for the Administrative
Agent and the Issuing Bank and one additional counsel for all the Lenders
(other than the Administrative Agent) and additional counsel in light of actual
or potential conflicts of interest or the availability of different claims of
defenses) in connection with the enforcement or protection of its rights in
connection with this Agreement, including its rights under this Section, or in
connection with the Loans made or Letters of Credit issued hereunder, including
all such out-of-pocket expenses incurred during 
any workout, restructuring or negotiations in respect of such Loans or
Letters of Credit.

 

(b)  The Company shall
indemnify the Administrative Agent, the Issuing Bank 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 and documented
out-of-pocket expenses, including the reasonable fees, charges and
disbursements of any counsel for any Indemnitee, incurred by or asserted
against any Indemnitee arising out of, in connection with, or as a result of (i) the
execution or delivery of any Loan Document or any agreement or instrument
contemplated thereby, the performance by the parties hereto of their respective
obligations thereunder or the consummation of the Transactions or any other
transactions contemplated hereby, (ii) any Loan or Letter of Credit or the
use of the proceeds therefrom (including any 

 

73

 

refusal by the Issuing Bank to honor a demand
for payment under a Letter of Credit if the documents presented in connection
with such demand do not strictly comply with the terms of such Letter of
Credit), (iii) any actual or alleged presence or release of Hazardous
Materials on or from any property owned or operated by the Company or any of
its Subsidiaries, or any Environmental Liability related in any way to the
Company 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; provided that such
indemnity shall not, as to any Indemnitee, be available to the extent that such
losses, claims, damages, liabilities or related expenses are determined by a
court of competent jurisdiction by final and nonappealable judgment to have
resulted from the gross negligence, bad faith or willful misconduct of such
Indemnitee or its affiliates or controlling persons or any of the officers,
directors, employees, agents or members of any of the foregoing, any material
breach by any of them of the Loan Documents or disputes between and among
Indemnitees (not arising as a result of any act or omission by the Company or
any of its Affiliates).

 

(c)  To the extent that
the Company fails to pay any amount required to be paid by it to the
Administrative Agent, the Issuing Bank or the Swingline Lender under paragraph (a) or
(b) of this Section, each Lender severally agrees to pay to the
Administrative Agent, and each Revolving Lender severally agrees to pay to the
Issuing Bank or the Swingline Lender, as the case may be, in each case, such
Lender’s Applicable Percentage (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount (it
being understood that the Company’s failure to pay any such amount shall not
relieve the Company of any default in the payment thereof); 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, the Issuing
Bank or the Swingline Lender in its capacity as such.

 

(d)  To the extent
permitted by applicable law, no Borrower shall assert, and each Borrower 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 or thereby, the Transactions, any Loan or Letter of Credit or the use of
the proceeds thereof.

 

(e)  All amounts due
under this Section shall be payable not later than fifteen (15) days after
written demand therefor.

 

SECTION 9.04.  Successors and
Assigns.  (a)  The
provisions of this Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns permitted hereby
(including any Affiliate of the Issuing Bank that issues any Letter of Credit),
except that (i) no Borrower may assign or otherwise transfer any of its
rights or obligations hereunder without the prior written consent of each
Lender (and any attempted assignment or transfer by any Borrower without such
consent shall be null and void) and (ii) no Lender may assign or otherwise
transfer its rights or obligations hereunder except in accordance with this
Section.  Nothing in this Agreement,
expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their respective successors and assigns permitted hereby
(including any Affiliate of the Issuing Bank that issues any Letter of Credit),
Participants (to the extent provided in paragraph (c) of this Section)
and, to the extent expressly contemplated hereby, the Related Parties of each
of the Administrative Agent, the Issuing Bank and the Lenders) any legal or
equitable right, remedy or claim under or by reason of this Agreement.

 

(b)(i)  Subject to the
conditions set forth in paragraph (b)(ii) below, any Lender may assign to
one or more assignees all or a portion of its rights and obligations under this
Agreement 

 

74

 

(including
all or a portion of its Commitments and the Loans at the time owing to it) with
the prior written consent (such consent not to be unreasonably withheld or
delayed) of:

 

(A) the Company, provided that no consent of the Company shall be
required for an assignment to a Lender, an Affiliate of a Lender, an Approved
Fund or, if an Event of Default has occurred and is continuing, any other
assignee;

 

(B) the Administrative
Agent; provided that no consent of the Administrative Agent shall be
required for an assignment of all or any portion of a Term Loan to a Lender, an
Affiliate of a Lender or an Approved Fund; and

 

(C) the Issuing
Bank;  provided that no consent of
any Issuing Bank shall be required for an assignment of all or any portion of a
Term Loan.

 

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

 

(A) except in the case
of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund or
an assignment of the entire remaining amount of the assigning Lender’s
Commitment or Loans of any Class, the amount of the Commitment or 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) shall not be less than $5,000,000 (in the case of
Revolving Commitments and Revolving Loans) or $1,000,000 (in the case of a Term
Loan) unless each of the Company and the Administrative Agent otherwise consent
(such consent not to be unreasonably withheld or delayed), provided that no such consent of the Company
shall be required if an Event of Default has occurred and is continuing;

 

(B) each partial
assignment shall be made as an assignment of a proportionate part of all the
assigning Lender’s rights and obligations under this Agreement, provided that
this clause shall not be construed to prohibit the assignment of a
proportionate part of all the assigning Lender’s rights and obligations in
respect of one Class of Commitments or Loans;

 

(C) the parties to each
assignment shall execute and deliver to the Administrative Agent an Assignment
and Assumption, together with a processing and recordation fee of $3,500, such
fee to be paid by either the assigning Lender or the assignee Lender or shared
between such Lenders;

 

(D) the assignee, if it
shall not be a Lender, shall deliver to the Administrative Agent an
Administrative Questionnaire; and

 

(E) a Lender may only
assign or transfer any of such Lender’s rights and benefits in respect of a
Loan made to a Swiss Borrower to an assignee which is a Swiss Qualifying Bank.

 

For the purposes of this Section 9.04(b),
the term “Approved Fund” has the following
meaning:

 

“Approved
Fund” means any Person (other than a natural person) that is engaged
in making, purchasing, holding or investing in bank loans and similar
extensions of credit in the ordinary 

 

75

 

course
of its business and 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.

 

(iii)  Subject to
acceptance and recording thereof pursuant to paragraph (b)(iv) of this
Section, from and after the effective date specified in each Assignment and
Assumption the assignee thereunder shall be a party hereto and, to the extent
of the interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Agreement, and the assigning Lender
thereunder shall, to the extent of the interest assigned by such Assignment and
Assumption, be released from its obligations under this Agreement (and, in the
case of an Assignment and Assumption covering all of the assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a
party hereto but shall continue to be entitled to the benefits of Sections
2.15, 2.16, 2.17 and 9.03).  Any
assignment or transfer by a Lender of rights or obligations under this
Agreement that does not comply with this Section 9.04 shall be treated for
purposes of this Agreement as a sale by such Lender of a participation in such
rights and obligations in accordance with paragraph (c) of this Section.

 

(iv)  The
Administrative Agent, acting for this purpose as an agent of each Borrower,
shall maintain at one of its offices 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 Commitment of, and principal amount of the Loans and LC
Disbursements owing to, each Lender pursuant to the terms hereof from time to
time (the “Register”).  The entries in the Register shall be
conclusive, and the Borrowers, the Administrative Agent, the Issuing Bank and
the Lenders may treat each Person whose name is recorded in the Register
pursuant to the terms hereof as a Lender hereunder for all purposes of this
Agreement, notwithstanding notice to the contrary.  The Register shall be available for
inspection by the Company, the Issuing Bank and any Lender, at any reasonable
time and from time to time upon reasonable prior notice.

 

(v)  Upon its receipt
of a duly completed Assignment and Assumption executed by an assigning Lender
and an assignee, the assignee’s completed Administrative Questionnaire (unless
the assignee shall already be a Lender hereunder), the processing and
recordation fee referred to in paragraph (b) of this Section and any
written consent to such assignment required by paragraph (b) of this
Section, the Administrative Agent shall accept such Assignment and Assumption
and record the information contained therein in the Register; provided that if either the assigning Lender or
the assignee shall have failed to make any payment required to be made by it
pursuant to Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.18(d) or
9.03(c), the Administrative Agent shall have no obligation to accept such Assignment
and Assumption and record the information therein in the Register unless and
until such payment shall have been made in full, together with all accrued
interest thereon.  No assignment shall be
effective for purposes of this Agreement unless it has been recorded in the
Register as provided in this paragraph.

 

(c) 
(i)  Any Lender may, without the consent of the Company, the
Administrative Agent, the Issuing Bank or the Swingline Lender, sell
participations to one or more banks or other entities (a “Participant”)
in all or a portion of such Lender’s rights and obligations under this
Agreement (including all or a portion of its Commitment and the Loans owing to
it); provided that (A) such Lender’s obligations under this
Agreement shall remain unchanged, (B) such Lender shall remain solely
responsible to the other parties hereto for the performance of such
obligations, (C) the Borrowers, the Administrative Agent, the Issuing Bank
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 and (D) a Lender or Participant, as the case may be, may only
sell participations to one or more Swiss Qualifying Banks in respect of a Loan
made to a Swiss Borrower.  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 

 

76

 

the
Participant, agree to any amendment, modification or waiver described in the
first proviso to Section 9.02(b) that affects such Participant.  Subject to paragraph (c)(ii) of this
Section, each Borrower agrees that each Participant shall be entitled to the
benefits of Sections 2.15, 2.16 and 2.17 to the same extent as if it were a
Lender and had acquired its interest by assignment pursuant to paragraph (b) of
this Section.  To the extent permitted by
law, each Participant also shall be entitled to the benefits of Section 9.08
as though it were a Lender, provided such Participant agrees to be subject to Section 2.18(c) as
though it were a Lender.

 

(ii) 
A Participant shall not be entitled to receive any greater payment under Section 2.15
or 2.17 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 the Company’s 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 2.17
unless the Company is notified of the participation sold to such Participant
and such Participant agrees, for the benefit of the Company, to comply with Section 2.17(e) as
though it were a Lender.

 

(d) 
Any Lender may at any time pledge or assign a security interest in all or any
portion of its rights under this Agreement to secure obligations of such
Lender, including without limitation any pledge or assignment to secure
obligations to a Federal Reserve Bank, and this Section shall not apply to
any such pledge or assignment of a security interest; provided that no
such pledge or assignment of a security interest shall release a Lender from
any of its obligations hereunder or substitute any such pledgee or assignee for
such Lender as a party hereto.

 

SECTION 9.05.  Survival.  All covenants, agreements, representations
and warranties made by the Loan Parties in the Loan Documents and in the
certificates or other instruments delivered in connection with or pursuant to
this Agreement or any other Loan Document shall be considered to have been
relied upon by the other parties hereto and shall survive the execution and
delivery of the Loan Documents and the making of any Loans and issuance of any
Letters of Credit, regardless of any investigation made by any such other party
or on its behalf and notwithstanding that the Administrative Agent, the Issuing
Bank or any Lender may have had notice or knowledge of any Default or incorrect
representation or warranty at the time any credit is extended hereunder, and
shall continue in full force and effect as long as the principal of or any
accrued interest on any Loan or any fee or any other amount payable under this
Agreement or any other Loan Document is outstanding and unpaid or any Letter of
Credit is outstanding and so long as the Commitments have not expired or
terminated.  The provisions of Sections
2.15, 2.16, 2.17 and 9.03 and Article VIII shall survive and remain in
full force and effect regardless of the consummation of the transactions
contemplated hereby, the repayment of the Loans, the expiration or termination
of the Letters of Credit and the Commitments or the termination of this
Agreement or any other Loan Document or any provision hereof or thereof.

 

SECTION 9.06.  Counterparts;
Integration; Effectiveness. 
This Agreement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original,
but all of which when taken together shall constitute a single contract.  This Agreement, the other Loan Documents and
any separate letter agreements with respect to fees payable to the
Administrative Agent constitute the entire contract among the parties relating
to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof.  Except as provided in Section 4.01, this
Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the Administrative Agent shall have received
counterparts hereof which, when taken together, bear the signatures of each of
the other parties hereto, and thereafter shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns.  Delivery of an executed counterpart of a
signature page of this 

 

77

 

Agreement by telecopy shall be effective as
delivery of a manually executed counterpart of this Agreement.

 

SECTION 9.07.  Severability.  Any provision of any Loan Document held to be
invalid, illegal or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such invalidity, illegality or
unenforceability without affecting the validity, legality and enforceability of
the remaining provisions thereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other
jurisdiction.

 

SECTION 9.08.  Right of Setoff.  If an Event of Default shall have occurred
and be continuing, each Lender and each of its Affiliates is hereby authorized
at any time and from time to time, to the fullest extent permitted by law, to
set off and apply any and all deposits (general or special, time or demand,
provisional or final and in whatever currency denominated) at any time held and
other obligations at any time owing by such Lender or Affiliate to or for the
credit or the account of any Borrower against any of and all the obligations of
such Borrower now or hereafter existing under this Agreement held by such Lender,
irrespective of whether or not such Lender shall have made any demand under the
Loan Documents and although such obligations may be unmatured.  The rights of each Lender under this Section are
in addition to other rights and remedies (including other rights of setoff)
which such Lender may have.

 

SECTION 9.09.  Governing Law;
Jurisdiction; Consent to Service of Process.  (a)  This Agreement shall be construed
in accordance with and governed by the law of the State of New York, without
prejudice to the references to legal concepts of certain other jurisdictions in
Article VIII hereof.

 

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

 

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

 

(d)  Each party to this
Agreement irrevocably consents to service of process in the manner provided for
notices in Section 9.01.  Each
Foreign Subsidiary Borrower irrevocably designates and appoints the Company, as
its authorized agent, to accept and acknowledge on its behalf, service of any
and all process which may be served in any suit, action or proceeding of the
nature referred to in Section 9.09(b) in any federal or New York
State court sitting in New York City. 
The Company hereby represents, warrants and confirms that the Company
has agreed to accept such appointment (and any 

 

78

 

similar appointment by a Subsidiary Guarantor
which is a Foreign Subsidiary).  Said
designation and appointment shall be irrevocable by each such Foreign
Subsidiary Borrower until all Loans, all reimbursement obligations, interest
thereon and all other amounts payable by such Foreign Subsidiary Borrower
hereunder and under the other Loan Documents shall have been paid in full in
accordance with the provisions hereof and thereof and such Foreign Subsidiary
Borrower shall have been terminated as a Borrower hereunder pursuant to Section 2.23.  Each Foreign Subsidiary Borrower hereby
consents to process being served in any suit, action or proceeding of the
nature referred to in Section 9.09(b) in any federal or New York
State court sitting in New York City by service of process upon the Company as
provided in this Section 9.09(d); provided that, to the extent
lawful and possible, notice of said service upon such agent shall be mailed by
registered or certified air mail, postage prepaid, return receipt requested, to
the Company and (if applicable to) such Foreign Subsidiary Borrower at its
address set forth in the Borrowing Subsidiary Agreement to which it is a party
or to any other address of which such Foreign Subsidiary Borrower shall have
given written notice to the Administrative Agent (with a copy thereof to the
Company).  Each Foreign Subsidiary
Borrower irrevocably waives, to the fullest extent permitted by law, all claim
of error by reason of any such service in such manner and agrees that such service
shall be deemed in every respect effective service of process upon such Foreign
Subsidiary Borrower in any such suit, action or proceeding and shall, to the
fullest extent permitted by law, be taken and held to be valid and personal
service upon and personal delivery to such Foreign Subsidiary Borrower.  To the extent any Foreign Subsidiary Borrower
has or hereafter may acquire any immunity from jurisdiction of any court or
from any legal process (whether from service or notice, attachment prior to judgment,
attachment in aid of execution of a judgment, execution or otherwise), each
Foreign Subsidiary Borrower hereby irrevocably waives such immunity in respect
of its obligations under the Loan Documents. 
Nothing in this Agreement or any other Loan Document will affect the
right of any party to this Agreement to serve process in any other manner
permitted by law.

 

SECTION 9.10.  WAIVER OF JURY TRIAL.  EACH PARTY HERETO HEREBY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A
TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR
RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER
THEORY).  EACH PARTY HERETO (A) CERTIFIES
THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

SECTION 9.11.  Headings.  Article and Section headings and
the Table of Contents used herein are for convenience of reference only, are
not part of this Agreement and shall not affect the construction of, or be
taken into consideration in interpreting, this Agreement.

 

SECTION 9.12.  Confidentiality.  (a) Each of the Administrative Agent,
the Issuing Bank and the Lenders agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) on
a need-to-know basis to its and its Affiliates’ directors and advisors to such
directors, officers, employees and agents, including accountants, legal counsel
and other advisors (it being understood that the Persons to whom such
disclosure is made will be informed of the confidential nature of such
Information and instructed to keep such Information confidential in accordance
with this Section (with the disclosing Administrative Agent, Issuing Bank
or Lender, as applicable, responsible for such Person’s compliance with this
Section)), (b) to the extent requested by any regulatory authority, (c) to
the extent required by applicable laws or regulations or by any subpoena 

 

79

 

or similar legal process (in which case such
disclosing Person agrees, to the extent practicable and not prohibited by law,
to use commercially reasonable efforts to inform the Company promptly thereof
prior to such disclosure), (d) to any other party to this Agreement, (e) in
connection with the exercise of any remedies hereunder or any suit, action or
proceeding relating to this Agreement or any other Loan Document or the
enforcement of rights hereunder or thereunder, (f) subject to an agreement
containing provisions substantially the same as those of this Section, to (i) any
assignee of or Participant in, or any prospective assignee of or Participant
in, any of its rights or obligations under this Agreement or (ii) any
actual or prospective counterparty (or its advisors) to any swap or derivative
transaction relating to any Borrower and its obligations, (g) with the
consent of the Company or (h) to the extent such Information (i) becomes
publicly available other than as a result of a breach of this Section or (ii) becomes
available to the Administrative Agent, the Issuing Bank or any Lender on a
nonconfidential basis from a source other than the Company.  For the purposes of this Section, “Information”
means all information received from the Company relating to the Company or its
business, other than any such information that is available to the
Administrative Agent, the Issuing Bank or any Lender on a nonconfidential basis
prior to disclosure by the Company; provided that, in the case of
information received from the Company after the date hereof, such information
is clearly identified at the time of delivery as confidential.  Any Person required to maintain the
confidentiality of Information as provided in this Section 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.

 

(b)           EACH LENDER
ACKNOWLEDGES THAT INFORMATION AS DEFINED IN SECTION 9.12(a) FURNISHED
TO IT PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC
INFORMATION CONCERNING THE COMPANY, THE LOAN PARTIES AND THEIR RELATED PARTIES
OR THEIR RESPECTIVE SECURITIES AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE
PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT
WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE
PROCEDURES, ITS OBLIGATIONS TO THE COMPANY AND THE LOAN PARTIES UNDER THE LOAN
DOCUMENTS AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS.

 

(c)           ALL
INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS FURNISHED BY THE
COMPANY OR THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF
ADMINISTERING, THIS AGREEMENT, WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN
MATERIAL NON-PUBLIC INFORMATION ABOUT THE COMPANY, THE LOAN PARTIES AND THEIR
RELATED PARTIES OR THEIR RESPECTIVE SECURITIES. 
ACCORDINGLY, EACH LENDER REPRESENTS TO THE COMPANY AND THE
ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE
A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN
MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES,
ITS OBLIGATIONS TO THE COMPANY AND THE LOAN PARTIES UNDER THE LOAN DOCUMENTS
AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS.

 

SECTION 9.13.  USA PATRIOT Act.  Each Lender that is subject to the
requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into
law October 26, 2001)) (the “Act”) hereby notifies each Loan Party
that pursuant to the requirements of the Act, it is required to obtain, verify
and record information that identifies such Loan Party, which information
includes the name and address of such Loan Party and other information that
will allow such Lender to identify such Loan Party in accordance with the Act.

 

80

 

ARTICLE X

 

Cross-Guarantee

 

In
order to induce the Lenders to extend credit to the other Borrowers hereunder,
but subject to the last two sentences of this Article X, each Borrower
hereby irrevocably and unconditionally guarantees, as a primary obligor and not
merely as a surety, irrespective of the validity of the Obligations, waiving
all rights of objection and defense arising from the Obligations, the payment
when and as due of the Obligations of such other Borrowers.  Each Borrower further agrees that the due and
punctual payment of such Obligations may be extended or renewed, in whole or in
part, without notice to or further assent from it, and that it will remain
bound upon its guarantee hereunder notwithstanding any such extension or
renewal of any such Obligation.

 

Each
Borrower waives presentment to, demand of payment from and protest to any
Borrower of any of the Obligations, and also waives notice of acceptance of its
obligations and notice of protest for nonpayment.  The obligations of each Borrower hereunder
shall not be affected by (a) the failure of the Administrative Agent, the
Issuing Bank or any Lender to assert any claim or demand or to enforce any
right or remedy against any Borrower under the provisions of this Agreement,
any other Loan Document or otherwise; (b) any extension or renewal of any
of the Obligations; (c) any rescission, waiver, amendment or modification
of, or release from, any of the terms or provisions of this Agreement, or any
other Loan Document or agreement; (d) any default, failure or delay,
willful or otherwise, in the performance of any of the Obligations; (e) the
failure of the Administrative Agent to take any steps to perfect and maintain
any security interest in, or to preserve any rights to, any security or collateral
for the Obligations, if any; (f) any change in the corporate, partnership
or other existence, structure or ownership of any Borrower or any other
guarantor of any of the Obligations; (g) the enforceability or validity of
the Obligations or any part thereof or the genuineness, enforceability or
validity of any agreement relating thereto or with respect to any collateral
securing the Obligations or any part thereof, or any other invalidity or
unenforceability relating to or against any Borrower or any other guarantor of
any of the Obligations, for any reason related to this Agreement, any Swap
Agreement, any other Loan Document, or any provision of applicable law, decree,
order or regulation of any jurisdiction purporting to prohibit the payment by
such Borrower or any other guarantor of the Obligations, of any of the
Obligations or otherwise affecting any term of any of the Obligations; or (h) any
other act, omission or delay to do any other act which may or might in any
manner or to any extent vary the risk of such Borrower or otherwise operate as
a discharge of a guarantor as a matter of law or equity or which would impair
or eliminate any right of such Borrower to subrogation.

 

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

 

The
obligations of each Borrower hereunder shall not be subject to any reduction,
limitation, impairment or termination for any reason, and shall not be subject
to any defense or set-off, counterclaim, recoupment or termination whatsoever,
by reason of the invalidity, illegality or unenforceability of any of the
Obligations, any impossibility in the performance of any of the Obligations or
otherwise.

 

Each
Borrower further agrees that its obligations hereunder shall continue to be
effective or be reinstated, as the case may be, if at any time payment, or any
part thereof, of any Obligation is 

 

81

 

rescinded or must otherwise
be restored by the Administrative Agent, the Issuing Bank or any Lender upon
the bankruptcy or reorganization of any Borrower or otherwise.

 

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

 

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

 

Nothing
shall discharge or satisfy the liability of any Borrower hereunder except the
full performance and payment of the Obligations.

 

Nothing
in this Article X shall oblige a German GmbH Obligor to make a payment in
respect of this Article X if and to the extent that the obligations under
this Article X secure obligations of such German GmbH Obligor’s
shareholder(s) and/or affiliated companies (verbundene
Unternehmen) of such shareholder(s) within the meaning of Section 15
of the German Stock Corporation Act (Aktiengesetz)
(other than the Subsidiaries of such German GmbH Obligor) and such payment
would cause such German GmbH Obligor not to have sufficient net assets (Reinvermögen) to maintain its stated share capital (Stammkapital) and as a result cause a violation of Sections
30, 31 of the German Limited Liability Companies Act (Gesetz
betreffend die Gesellschaften mit beschränkter Haftung).

 

Nothing
in this Article X shall oblige a Swiss Borrower to make any payment in
respect of this Article X for any other Loan Party which is not a
Subsidiary of such Swiss Borrower unless such payments are limited to the
amount of the freely disposable shareholders equity of such Swiss Borrower at
the time of the enforcement of the obligations and liabilities under this Article X.  The freely disposable shareholder equity
shall be determined in accordance with Swiss law and Swiss accounting
principles and shall correspond to such Swiss Borrower’s total shareholder
equity less the total of (i) its aggregate share capital and (ii) its
statutory reserves (including reserves for own shares and revaluations as well
as agio) to the extent such reserves are not available for distribution at the time
of the enforcement of the obligations and liabilities of such Swiss Borrower
under this Article X for the obligations under the Loan 

 

82

 

Documents of any other Loan
Party which is not a subsidiary of such Swiss Borrower, which amount shall be (a) determined
on the basis of an audited annual or interim balance sheet of each Swiss
Borrower, (b) approved by the auditors of each Swiss Borrower as
distributable amount and (c) approved by a shareholders’ resolution of
each Swiss Borrower in accordance with the provisions of the Swiss Code of
Obligations.

 

Notwithstanding
anything contained in this Article X to the contrary, no Foreign
Subsidiary Borrower which is an Affected Foreign Subsidiary shall be liable hereunder
for any of the Loans made to, or any other Obligation of, the Company or any
Subsidiary Guarantor which is a Domestic Subsidiary.

 

[Signature Pages Follow]

 

83

 

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

 

	
   

  	
  BRUKER BIOSCIENCES CORPORATION (to

  be renamed BRUKER CORPORATION), as the

  Company

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Frank H. Laukien, Ph.D

  
	
   

  	
   

  	
   Name: Frank H. Laukien, Ph.D

  
	
   

  	
   

  	
   Title: President and Chief Executive
  Officer

  
	
   

  	
   

  
	
   

  	
  BRUKER AXS GmbH, as a Foreign Subsidiary

  Borrower

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Stephan Westermann

  
	
   

  	
   

  	
   Name: Stephan Westermann

  
	
   

  	
   

  	
   Title: Managing Director

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Dr. Frank Burgazy

  
	
   

  	
   

  	
   Name: Dr. Frank Burgazy

  
	
   

  	
   

  	
   Title: Managing Director

  
	
   

  	
   

  
	
   

  	
  BRUKER DALTONIK GmbH, as a Foreign

  Subsidiary Borrower

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Stefan Ruge

  
	
   

  	
   

  	
   Name: Stefan Ruge

  
	
   

  	
   

  	
   Title: Managing Director

  
	
   

  	
   

  
	
   

  	
  By

  	
  ppa

  	
    /s/ Andrea Geerken

  
	
   

  	
   

  	
   Name: Andrea Geerken

  	
   

  
	
   

  	
   

  	
   Title: Procurist

  
	
   

  	
   

  
	
   

  	
  BRUKER OPTIK GmbH, as a Foreign Subsidiary
  Borrower

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Dr. Arno Simon

  
	
   

  	
   

  	
   Name: Dr. Arno Simon

  
	
   

  	
   

  	
   Title: Managing Director

  
	
   

  	
   

  
	
   

  	
  By 

  	
  ppa.

  	
    /s/ Rolf Lang

  
	
   

  	
   

  	
   Name: Rolf Lang

  	
   

  
	
   

  	
   

  	
   Title: Procurist

  
	
   

  	
   

  
	
   

  	
  BRUKER PHYSIK GmbH, as a Foreign

  Subsidiary Borrower

  
					

 

 

Signature Page to Credit
Agreement

Bruker BioSciences
Corporation et al

 

 

	
   

  	
  By

  	
    /s/ Jorg C. Laukien

  
	
   

  	
   

  	
   Name: Jorg C. Laukien

  
	
   

  	
   

  	
   Title: Managing Director

  
	
   

  	
   

  
	
   

  	
  BRUKER BIOSPIN INVEST AG, as a Foreign

  Subsidiary Borrower

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Dr. Toni Keller

  
	
   

  	
   

  	
   Name: Dr. Toni Keller

  
	
   

  	
   

  	
   Title: Chairman of the Board

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Dr. Daniel Sauter

  
	
   

  	
   

  	
   Name: Dr. Daniel Sauter

  
	
   

  	
   

  	
   Title: Board Member

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BRUKER BIOSPIN AG, as a Foreign Subsidiary

  Borrower

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Dr. Toni Keller

  
	
   

  	
   

  	
   Name: Dr. Toni Keller

  
	
   

  	
   

  	
   Title: Chairman of the Board

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Dr. Daniel Sauter

  
	
   

  	
   

  	
   Name: Dr. Daniel Sauter

  
	
   

  	
   

  	
   Title: Board Member

  
	
   

  	
   

  
	
   

  	
  BRUKER BIOSPIN INTERNATIONAL AG, as

  a Foreign Subsidiary Borrower

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Dr. Christoph Straub

  
	
   

  	
   

  	
   Name: Dr. Christoph Straub

  
	
   

  	
   

  	
   Title: Chairman of the Board

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Roger Deutsch

  
	
   

  	
   

  	
   Name: Roger Deutsch

  
	
   

  	
   

  	
   Title: Board Member

  
	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE BANK, N.A., individually

  as a Lender, as Swingline Lender, as Issuing

  Bank and as Administrative Agent

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ D. Scott Farquhar

  
	
   

  	
   

  	
   Name: D. Scott Farquhar

  
	
   

  	
   

  	
   Title: Vice President

  
	
   

  	
   

  
	
   

  	
  CITIBANK, N.A., individually as a Lender
  and

  

 

2

 

	
   

  	
  as Syndication Agent

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Thomas Hackett

  
	
   

  	
   

  	
   Name: Thomas Hackett

  
	
   

  	
   

  	
   Title: Vice President

  
	
   

  	
   

  
	
   

  	
  RBS CITIZENS, NATIONAL ASSOCIATION,

  individually as a Lender and as a Co-

  Documentation Agent

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Marc J. Lubelezyk

  
	
   

  	
   

  	
   Name: Marc J. Lubelezyk

  
	
   

  	
   

  	
   Title: Senior Vice President

  
	
   

  	
   

  
	
   

  	
  DEUTSCHE BANK SECURITIES INC., as a

  Co-Documentation Agent

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Douglas Weir

  
	
   

  	
   

  	
   Name: Douglas Weir

  
	
   

  	
   

  	
   Title: Director

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Ming K. Chu

  
	
   

  	
   

  	
   Name: Ming K. Chu

  
	
   

  	
   

  	
   Title: Vice President

  
	
   

  	
   

  
	
   

  	
  DEUTSCHE BANK AG NEW YORK

  BRANCH, as a Lender

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Douglas Weir

  
	
   

  	
   

  	
   Name: Douglas Weir

  
	
   

  	
   

  	
   Title: Director

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Ming K. Chu

  
	
   

  	
   

  	
   Name: Ming K. Chu

  
	
   

  	
   

  	
   Title: Vice President

  
	
   

  	
   

  
	
   

  	
  DRESDNER BANK AG, NEW YORK AND

  GRAND CAYMAN BRANCHES, individually

  as a Lender and as a Co-Documentation Agent

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Andrea Stockemer

  
	
   

  	
   

  	
   Name: Andrea Stockemer

  
	
   

  	
   

  	
   Title: Vice President

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Bianca Bethke

  
	
   

  	
   

  	
   Name: Bianca Bethke

  
	
   

  	
   

  	
   Title: Analyst

  
	
   

  	
   

  
	
   

  	
  COMMERZBANK Aktiengesellschaft, Bremen

  Branch as a Lender

  

 

3

 

	
   

  	
  By

  	
    /s/ Michael T. Kruger

  
	
   

  	
   

  	
   Name: Michael T. Kruger

  
	
   

  	
   

  	
   Title: Managing Director

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Ted R. Kreymborg

  
	
   

  	
   

  	
   Name: Ted R. Kreymborg

  
	
   

  	
   

  	
   Title: Vice President

  
	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A., as a Lender

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Linda Alto

  
	
   

  	
   

  	
   Name: Linda Alto

  
	
   

  	
   

  	
   Title: Senior Vice President

  
	
   

  	
   

  
	
   

  	
  WACHOVIA BANK, NATIONAL

  ASSOCIATION, as a Lender

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Patricia S. Gaudreau

  
	
   

  	
   

  	
   Name: Patricia S. Gaudreau

  
	
   

  	
   

  	
   Title: Senior Vice President

  
	
   

  	
   

  
	
   

  	
  CREDIT SUISSE, ZURICH/SWITZERLAND,

  as a Lender

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Gudio Bischof

  
	
   

  	
   

  	
   Name: Gudio Bischof

  
	
   

  	
   

  	
   Title: Director

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Martina Gerber

  
	
   

  	
   

  	
   Name: Martina Gerber

  
	
   

  	
   

  	
   Title: Assistant Vice President

  
	
   

  	
   

  
	
   

  	
  TD BANKNORTH, N.A., as a Lender

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Jeffrey R. Westling

  
	
   

  	
   

  	
   Name: Jeffrey R. Westling

  
	
   

  	
   

  	
   Title: Senior Vice President

  
	
   

  	
   

  
	
   

  	
  THE NORTHERN TRUST COMPANY, as a

  Lender

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Jeffrey B. Clark

  
	
   

  	
   

  	
   Name: Jeffrey B. Clark

  
	
   

  	
   

  	
   Title: Senior Vice President

  

 

4

 

SCHEDULE 2.01

 

COMMITMENTS

 

	
  LENDER

  	
   

  	
  TERM LOAN

  COMMITMENT

  	
   

  	
  REVOLVING

  COMMITMENT

  	
   

  	
  TOTAL

  COMMITMENT

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  JPMORGAN CHASE BANK, N.A.

  	
   

  	
  $

  	
  22,697,369.00

  	
   

  	
  $

  	
  34,802,631.00

  	
   

  	
  $

  	
  57,500,000.00

  	
   

  
	
  CITIBANK, N.A.

  	
   

  	
  $

  	
  22,697,369.00

  	
   

  	
  $

  	
  34,802,631.00

  	
   

  	
  $

  	
  57,500,000.00

  	
   

  
	
  RBS CITIZENS, NATIONAL ASSOCIATION

  	
   

  	
  $

  	
  17,763,158.00

  	
   

  	
  $

  	
  27,236,842.00

  	
   

  	
  $

  	
  45,000,000.00

  	
   

  
	
  DEUTSCHE BANK AG NEW YORK BRANCH

  	
   

  	
  $

  	
  13,815,789.00

  	
   

  	
  $

  	
  21,184,211.00

  	
   

  	
  $

  	
  35,000,000.00

  	
   

  
	
  DRESDNER BANK AG, NEW YORK AND GRAND CAYMAN BRANCHES

  	
   

  	
  $

  	
  13,815,789.00

  	
   

  	
  $

  	
  21,184,211.00

  	
   

  	
  $

  	
  35,000,000.00

  	
   

  
	
  COMMERZBANK AG

  	
   

  	
  $

  	
  13,815,789.00

  	
   

  	
  $

  	
  21,184,211.00

  	
   

  	
  $

  	
  35,000,000.00

  	
   

  
	
  BANK OF AMERICA, N.A.

  	
   

  	
  $

  	
  10,855,263.00

  	
   

  	
  $

  	
  16,644,737.00

  	
   

  	
  $

  	
  27,500,000.00

  	
   

  
	
  WACHOVIA BANK, NATIONAL ASSOCIATION

  	
   

  	
  $

  	
  10,855,263.00

  	
   

  	
  $

  	
  16,644,737.00

  	
   

  	
  $

  	
  27,500,000.00

  	
   

  
	
  CREDIT SUISSE, ZURICH/SWITZERLAND

  	
   

  	
  $

  	
  8,881,579.00

  	
   

  	
  $

  	
  13,618,421.00

  	
   

  	
  $

  	
  22,500,000.00

  	
   

  
	
  TD BANKNORTH, N.A.

  	
   

  	
  $

  	
  8,881,579.00

  	
   

  	
  $

  	
  13,618,421.00

  	
   

  	
  $

  	
  22,500,000.00

  	
   

  
	
  THE NORTHERN TRUST COMPANY

  	
   

  	
  $

  	
  5,921,053.00

  	
   

  	
  $

  	
  9,078,947.00

  	
   

  	
  $

  	
  15,000,000.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  AGGREGATE COMMITMENT

  	
   

  	
  $

  	
  150,000,000.00

  	
   

  	
  $

  	
  230,000,000.00

  	
   

  	
  $

  	
  380,000,000.00

  	
   

  

 

 

SCHEDULE 2.02

 

MANDATORY COST

 

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 Administrative Agent shall calculate,
as a percentage rate, a rate (the “Associated Costs Rate”) for each
Lender, in accordance with the paragraphs set out below.  The Mandatory Cost will be calculated by the
Administrative Agent as a weighted average of the Lenders’ Associated Costs
Rates (weighted in proportion to the percentage participation of each Lender in
the relevant Loan) and will be expressed as a percentage rate per annum.

 

3.           The Associated Costs Rate for any Lender
lending from a Facility Office in a Participating Member State will be the
percentage notified by that Lender to the Administrative Agent.  This percentage will be certified by that
Lender in its notice to the Administrative Agent to be its reasonable
determination of the cost (expressed as a percentage of that Lender’s
participation in all Loans made from 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 Associated Costs Rate for any Lender
lending from a Facility Office in the United Kingdom will be calculated by the
Administrative Agent as follows:

 

(a)             in relation to a Loan in Pounds Sterling:

 per
cent. per annum

 

(b)            in relation to a Loan in any currency
other than Pounds Sterling:

 per
cent. per annum.

 

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 Applicable Rate and the
Mandatory Cost and, if the Loan is an Unpaid Sum, the additional rate of
interest specified in Section 2.13(c)) 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 Administrative Agent on interest bearing Special
Deposits.

 

E          is designed to compensate Lenders for amounts
payable under the Fees Rules and is calculated by the Administrative Agent
as being the average of the most recent rates of charge supplied by the
Reference Banks to the Administrative Agent pursuant to paragraph 7 below and
expressed in 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)            “Facility Office”
means the office or offices notified by a Lender to the Administrative Agent 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.

 

(c)             “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;

 

(d)            “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);

 

(e)             “Participating Member State”
means any member state of the European Union that adopts or has adopted the
euro as its lawful currency in accordance with legislation of the European
Union relating to economic and monetary union.

 

(f)             “Reference Banks”
means, in relation to Mandatory Cost, the principal London offices of JPMorgan Chase
Bank, N.A.

 

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

 

(h)            “Unpaid Sum”
means any sum due and payable but unpaid by any Borrower under the Loan
Documents.

 

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.           If requested by the Administrative Agent,
each Reference Bank shall, as soon as practicable after publication by the
Financial Services Authority, supply to the Administrative Agent, the rate of

 

2

 

charge payable by
that Reference Bank to the Financial Services Authority pursuant to the Fees Rules in
respect of the relevant financial year of the Financial Services Authority
(calculated for this purpose by that Reference Bank as being the average of the
Fee Tariffs applicable to that Reference Bank for that financial year) and
expressed in pounds per £1,000,000 of the Tariff Base of that Reference Bank.

 

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

 

(a)             the jurisdiction of its Facility Office;
and

 

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

 

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

 

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

 

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

 

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

 

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

 

13.         The Administrative Agent may from time to time,
after consultation with the Company and the relevant Lenders, determine and
notify to all parties hereto any amendments which are required to be made to
this Schedule 2.02 in order to comply with any change in law, regulation or any
requirements from time to time imposed by the Bank of England, the Financial
Services Authority or the European Central Bank (or, in any case, any other
authority which replaces all or any of its functions) and any such
determination shall, in the absence of manifest error, be conclusive and
binding on all parties hereto.

 

3

EXHIBIT A

 

ASSIGNMENT AND ASSUMPTION

 

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

 

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

 

	
  1.

  	
   

  	
  Assignor:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  Assignee:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  [and is an Affiliate/Approved Fund of
  [identify Lender](1)]

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  Borrowers:

  	
   

  	
  Bruker BioSciences Corporation and certain
  Foreign Subsidiary Borrowers

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
  Administrative Agent:

  	
   

  	
  JPMorgan Chase Bank, N.A., as the
  administrative agent under the Credit Agreement

  
	
   

  	
   

  	
   

  	
   

  	
   

  

(1) Select as
applicable.

 

 

	
  5.

  	
   

  	
  Credit Agreement:

  	
   

  	
  The Credit Agreement dated as of
  February 26, 2008 among Bruker BioSciences Corporation, the Foreign
  Subsidiary Borrowers from time to time parties thereto, the Lenders parties
  thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, and the other
  agents parties thereto

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
   

  	
  Assigned Interest:

  	
   

  	
   

  

 

	
  Facility Assigned(2)

  	
   

  	
  Aggregate Amount of 

  Commitment/Loans 

  for all Lenders

  	
   

  	
  Amount of Commitment/

  Loans Assigned

  	
   

  	
  Percentage Assigned of 

  Commitment/Loans(3)

  	
   

  
	
   

  	
   

  	
  $

  	
   

  	
  $

  	
   

  	
  %

  	
   

  
	
   

  	
   

  	
  $

  	
   

  	
  $

  	
   

  	
  %

  	
   

  
	
   

  	
   

  	
  $

  	
   

  	
  $

  	
   

  	
  %

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

(2) Fill in the
appropriate terminology for the types of facilities under the Credit Agreement
that are being assigned under this Assignment (e.g., “Revolving Commitment”, “Term
Loan Commitment”, etc.).

(3) Set forth, so at
least 9 decimals, as a percentage of the Commitment/Loans of all Lenders
thereunder.

 

Effective Date: 
                          
      , 20      
[TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE
OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

 

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

 

	
   

  	
  ASSIGNOR

  
	
   

  	
   

  
	
   

  	
  [NAME OF ASSIGNOR]

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  ASSIGNEE

  
	
   

  	
   

  
	
   

  	
  [NAME OF ASSIGNEE]

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
  Consented
  to and Accepted:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  JPMORGAN
  CHASE BANK, N.A., as Administrative Agent and Issuing Bank

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  [Consented to:](4)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  BRUKER BIOSCIENCES CORPORATION

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
   

  

 

(4) To be added only
if the consent of the Company is required by the terms of the Credit Agreement.

 

 

2

 

 

ANNEX I

 

STANDARD
TERMS AND CONDITIONS FOR

 

ASSIGNMENT
AND ASSUMPTION

 

1.  Representations and
Warranties.

 

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

 

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

 

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

 

3.  General Provisions.
This Assignment and Assumption shall be binding upon, and inure to the benefit
of, the parties hereto and their respective successors and assigns.  This Assignment and Assumption may be
executed in any number of counterparts, which together shall constitute one
instrument.  Delivery of an executed
counterpart of a signature page of this Assignment and Assumption by
telecopy shall be effective as delivery of a manually executed counterpart of
this Assignment and 

 

 

Assumption.  This Assignment and Assumption shall be
governed by, and construed in accordance with, the law of the State of New
York.

 

2

 

EXHIBIT C

 

FORM OF INCREASING LENDER SUPPLEMENT

 

                INCREASING LENDER
SUPPLEMENT, dated                     ,
20       (this “Supplement”), by
and among each of the signatories hereto, to the Credit Agreement, dated as of February 26,
2008 (as amended, restated, supplemented or otherwise modified from time to
time, the “Credit Agreement”), among Bruker
BioSciences Corporation, a Delaware corporation (the “Company”), the
Foreign Subsidiary Borrowers from time to time party thereto, the Lenders party
thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such
capacity, the “Administrative Agent”).

 

W I T N E S S E T H

 

WHEREAS, pursuant to Section 2.20
of the Credit Agreement, the Company has the right, subject to the terms and
conditions thereof, to effectuate from time to time an increase in the
aggregate Revolving Commitments and/or one or more tranches of Incremental Term
Loans under the Credit Agreement by requesting one or more Lenders to increase
the amount of its Commitment and/or to participate in such a tranche;

 

WHEREAS, the Company has
given notice to the Administrative Agent of its intention to [increase the
aggregate Revolving Commitments] [and] [enter into a tranche of Incremental
Term Loans] pursuant to such Section 2.20; and

 

WHEREAS, pursuant to Section 2.20
of the Credit Agreement, the undersigned Increasing Lender now desires to
[increase the amount of its Revolving Commitment] [and] [participate in a
tranche of Incremental Term Loans] under the Credit Agreement by executing and
delivering to the Company and the Administrative Agent this Supplement;

 

NOW, THEREFORE, each of the
parties hereto hereby agrees as follows:

 

1.  The undersigned Increasing Lender agrees,
subject to the terms and conditions of the Credit Agreement, that on the date
of this Supplement it shall [have its Revolving Commitment increased by
$[                    ],
thereby making the aggregate amount of its total Revolving Commitments equal to
$[                    ]]
[and] [participate in a tranche of Incremental Term Loans with a commitment
amount equal to
$[                    ]
with respect thereto].

 

2.  The Company hereby represents and warrants
that no Default or Event of Default has occurred and is continuing on and as of
the date hereof.

 

3.  Terms defined in the Credit Agreement shall
have their defined meanings when used herein.

 

4.  This Supplement shall be governed by, and
construed in accordance with, the laws of the State of New York.

 

5.  This Supplement may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each
of which when so executed shall be deemed to be an original and all of which
taken together shall constitute one and the same document.

 

 

IN WITNESS WHEREOF, each of
the undersigned has caused this Supplement to be executed and delivered by a
duly authorized officer on the date first above written.

 

	
   

  	
  [INSERT NAME OF INCREASING LENDER]

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

 

Accepted and agreed to as of the date first written above:

 

	
  BRUKER BIOSCIENCES CORPORATION

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  
	
  Title:

  	
   

  
			

 

 

Acknowledged as of the date first written above:

 

	
  JPMORGAN CHASE BANK, N.A.

  	
   

  
	
  as Administrative Agent

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  
	
  Title:

  	
   

  
			

 

2

 

 

EXHIBIT D

 

FORM OF AUGMENTING LENDER SUPPLEMENT

 

AUGMENTING LENDER
SUPPLEMENT, dated
                    ,
20       (this “Supplement”),
to the Credit Agreement, dated as of February 26, 2008 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Bruker BioSciences
Corporation, a Delaware corporation (the “Company”), the Foreign
Subsidiary Borrowers from time to time party thereto, the Lenders party thereto
and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”).

 

W I T N E S S E T H

 

WHEREAS, the Credit
Agreement provides in Section 2.20 thereof that any bank, financial
institution or other entity may [extend Revolving Commitments] [and]
[participate in tranches of Incremental Term Loans] under the Credit Agreement
subject to the approval of the Company and the Administrative Agent, by
executing and delivering to the Company and the Administrative Agent a
supplement to the Credit Agreement in substantially the form of this
Supplement; and

 

WHEREAS, the undersigned
Augmenting Lender was not an original party to the Agreement but now desires to
become a party thereto;

 

NOW, THEREFORE, each of the
parties hereto hereby agrees as follows:

 

1.  The undersigned Augmenting Lender agrees to
be bound by the provisions of the Credit Agreement and agrees that it shall, on
the date of this Supplement, become a Lender for all purposes of the Credit
Agreement to the same extent as if originally a party thereto, with a [Revolving
Commitment of
$[                    ]]
[and] [a commitment with respect to Incremental Term Loans of
$[                    ]].

 

2.  The undersigned Augmenting Lender (a) represents
and warrants that it is legally authorized to enter into this Supplement; (b) confirms
that it has received a copy of the Credit Agreement, together with copies of
the most recent financial statements delivered pursuant to Section 5.01
thereof, as applicable, and has reviewed such other documents and information
as it has deemed appropriate to make its own credit analysis and decision to
enter into this Supplement; (c) agrees that it will, independently and
without reliance upon the Administrative Agent or any other Lender and based on
such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under
the Credit Agreement or any other instrument or document furnished pursuant
hereto or thereto; (d) appoints and authorizes the Administrative Agent to
take such action as agent on its behalf and to exercise such powers and
discretion under the Credit Agreement or any other instrument or document
furnished pursuant hereto or thereto as are delegated to the Administrative
Agent by the terms thereof, together with such powers as are incidental
thereto; and (e) agrees that it will be bound by the provisions of the
Credit Agreement and will perform in accordance with its terms all the
obligations which by the terms of the Credit Agreement are required to be
performed by it as a Lender.

 

3.  The undersigned’s address for notices for the
purposes of the Credit Agreement is as follows:

 

[                      ]

 

 

4.  The Company hereby represents and warrants
that no Default or Event of Default has occurred and is continuing on and as of
the date hereof.

 

5.  Terms defined in the Credit Agreement shall
have their defined meanings when used herein.

 

6.  This Supplement shall be governed by, and
construed in accordance with, the laws of the State of New York.

 

7. This Supplement may be
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same document.

 

[remainder of this page intentionally left
blank]

 

2

 

IN WITNESS WHEREOF, each of
the undersigned has caused this Supplement to be executed and delivered by a
duly authorized officer on the date first above written.

 

	
  [INSERT NAME OF AUGMENTING LENDER]

  
	
   

  
	
   

  
	
  By:

  	
   

  
	
  Name:

  
	
  Title:

  

 

 

Accepted and agreed to as of the date first written above:

 

BRUKER BIOSCIENCES CORPORATION

 

	
  By:

  	
   

  
	
  Name:

  
	
  Title:

  

 

 

Acknowledged as of the date first written above:

 

JPMORGAN CHASE BANK, N.A.

as Administrative Agent

 

 

	
  By:

  	
   

  
	
  Name:

  
	
  Title:

  

 

3

 

EXHIBIT F-1

 

 

[FORM OF]

 

BORROWING SUBSIDIARY AGREEMENT

 

BORROWING SUBSIDIARY
AGREEMENT dated as of
[          ], among Bruker
BioSciences Corporation, a Delaware corporation (the “Company”), [Name
of Foreign Subsidiary Borrower], a
[                    ]
(the “New Borrowing Subsidiary”), and JPMorgan Chase Bank, N.A. as
Administrative Agent (the “Administrative Agent”).

 

Reference is hereby made to
the Credit Agreement dated as of February 26, 2008 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”),
among the Company, the Foreign Subsidiary Borrowers from time to time party
thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank,
N.A. as Administrative Agent. 
Capitalized terms used herein but not otherwise defined herein shall
have the meanings assigned to such terms in the Credit Agreement.  Under the Credit Agreement, the Lenders have
agreed, upon the terms and subject to the conditions therein set forth, to make
Loans to certain Foreign Subsidiary Borrowers (collectively with the Company,
the “Borrowers”), and the Company and the New Borrowing Subsidiary
desire that the New Borrowing Subsidiary become a Foreign Subsidiary
Borrower.  In addition, the New Borrowing
Subsidiary hereby authorizes the Company to act on its behalf as and to the
extent provided for in Article II of the Credit Agreement.  [Notwithstanding
the preceding sentence, the New Borrowing Subsidiary hereby designates the
following officers as being authorized to request Borrowings under the Credit
Agreement on behalf of the New Subsidiary Borrower and sign this Borrowing
Subsidiary Agreement and the other Loan Documents to which the New Borrowing
Subsidiary is, or may from time to time become, a party:
[                            ].]

 

Each of the Company and the
New Borrowing Subsidiary represents and warrants that the representations and
warranties of the Company in the Credit Agreement relating to the New Borrowing
Subsidiary and this Agreement are true and correct on and as of the date
hereof, other than representations given as of a particular date, in which case
they shall be true and correct as of that date.  [The Company and the New Borrowing Subsidiary
further represent and warrant that the
execution, delivery and performance by the New Borrowing Subsidiary of the
transactions contemplated under this Agreement and the use of any of the
proceeds raised in connection with this Agreement will not contravene or
conflict with the provisions of section 151 of the Companies Act 1985 of
England and Wales (as amended).](5)[INSERT OTHER PROVISIONS REASONABLY
REQUESTED BY ADMINISTRATIVE AGENT OR ITS COUNSELS]  The Company agrees that the Guarantee of the
Company contained in the Credit Agreement will apply to the Obligations of the
New Borrowing Subsidiary.  Upon execution
of this Agreement by each of the Company, the New Borrowing Subsidiary and the
Administrative Agent, the New Borrowing Subsidiary shall be a party to the
Credit Agreement and shall constitute a “Foreign Subsidiary Borrower” for all
purposes thereof, and the New Borrowing Subsidiary hereby agrees to be bound by
all provisions of the Credit Agreement.

 

This Agreement shall be
governed by and construed in accordance with the laws of the State of New York.

 

[Signature Page Follows]

 

(5) To
be included only if a New Borrowing Subsidiary will be a Borrower organized
under the laws of England and Wales.

 

 

IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be duly executed by their
authorized officers as of the date first appearing above.

 

	
   

  	
  BRUKER BIOSCIENCES
  CORPORATION

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  [NAME OF NEW BORROWING
  SUBSIDIARY]

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

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

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

EXHIBIT F-2

 

 

[FORM OF]

 

BORROWING SUBSIDIARY TERMINATION

 

JPMorgan Chase Bank, N.A.

as Administrative Agent

for the Lenders referred to below

1 Chase Tower

Chicago, Illinois 60603

Attention: 
[                    ]

 

[Date]

 

Ladies and Gentlemen:

 

The undersigned, Bruker
BioSciences Corporation, a Delaware corporation (the “Company”), refers
to the Credit Agreement dated as of February 26, 2008 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”),
among the Company, the Foreign Subsidiary Borrowers from time to time party
thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.  Capitalized terms used and not otherwise
defined herein shall have the meanings assigned to such terms in the Credit
Agreement.

 

The Company hereby
terminates the status of
[                            ]
(the “Terminated Borrowing Subsidiary”) as a Foreign Subsidiary Borrower
under the Credit Agreement.  [The Company
represents and warrants that no Loans made to the Terminated Borrowing
Subsidiary are outstanding as of the date hereof and that all amounts payable
by the Terminated Borrowing Subsidiary in respect of interest and/or fees (and,
to the extent notified by the Administrative Agent or any Lender, any other
amounts payable under the Credit Agreement) pursuant to the Credit Agreement
have been paid in full on or prior to the date hereof.] [The Company
acknowledges that the Terminated Borrowing Subsidiary shall continue to be a
Borrower until such time as all Loans made to the Terminated Borrowing
Subsidiary shall have been prepaid and all amounts payable by the Terminated
Borrowing Subsidiary in respect of interest and/or fees (and, to the extent
notified by the Administrative Agent or any Lender, any other amounts payable
under the Credit Agreement) pursuant to the Credit Agreement shall have been
paid in full, provided that the Terminated Borrowing Subsidiary shall
not have the right to make further Borrowings under the Credit Agreement.]

 

[Signature Page Follows]

 

 

This instrument shall be
construed in accordance with and governed by the laws of the State of New York.

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Very truly yours,

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  BRUKER BIOSCIENCES CORPORATION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  

 

Copy to: JPMorgan Chase Bank, N.A.

270 Park Avenue

New York, New York 10017

 

2

 

EXHIBIT G

 

[FORM OF]

 

SUBSIDIARY GUARANTY

 

GUARANTY

 

THIS GUARANTY (this “Guaranty”) is
made as of February 26, 2008, by and among each of the undersigned (the “Initial
Guarantors” and along with any additional Subsidiaries of the Company which
become parties to this Guaranty by executing a supplement hereto in the form
attached as Annex I, the “Guarantors”) in favor of the Administrative
Agent, for the ratable benefit of the Holders of Obligations (as defined
below), under the Credit Agreement referred to below.

 

WITNESSETH

 

WHEREAS, Bruker BioSciences Corporation, a
Delaware corporation (the “Company”), the Foreign Subsidiary Borrowers
parties thereto (the “Foreign Subsidiary Borrowers” and, together with
the Company, the “Borrowers”), the institutions from time to time
parties thereto as lenders (the “Lenders”), and JPMorgan Chase Bank,
N.A., as administrative agent (the “Administrative Agent”) have entered
into a certain Credit Agreement dated as of February 26, 2008 (as the same
may be amended, modified, supplemented and/or restated, and as in effect from
time to time, the “Credit Agreement”), providing, subject to the terms
and conditions thereof, for extensions of credit and other financial
accommodations to be made by the Lenders to the Borrowers;

 

WHEREAS, it is a condition precedent to the
extensions of credit by the Lenders under the Credit Agreement that each of the
Guarantors (constituting all of the Subsidiaries of the Company required to
execute this Guaranty pursuant to Section 5.09 of the Credit Agreement)
execute and deliver this Guaranty, whereby each of the Guarantors shall
guarantee the payment when due of all Obligations; and

 

WHEREAS, in consideration of the direct and
indirect financial and other support that the Borrowers have provided, and such
direct and indirect financial and other support as the Borrowers may in the
future provide, to the Guarantors, and in order to induce the Lenders and the
Administrative Agent to enter into the Credit Agreement, each of the Guarantors
is willing to guarantee the Obligations of the Borrowers;

 

NOW, THEREFORE, in consideration of the
foregoing premises and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

 

SECTION 1.  Definitions.  Terms defined in the Credit Agreement and not
otherwise defined herein have, as used herein, the respective meanings provided
for therein.

 

SECTION 2.  Representations, Warranties and Covenants.  Each of the Guarantors represents and warrants
(which representations and warranties shall be deemed to have been renewed at
the time of the making, conversion or continuation of any Loan or issuance of
any Letter of Credit) that:

 

 

(A)  It is a
corporation, partnership or limited liability company duly and properly
incorporated or organized, as the case may be, validly existing and (to the
extent such concept applies to such entity) in good standing under the laws of
its jurisdiction of incorporation, organization or formation and has all requisite
authority to conduct its business in each jurisdiction in which its business is
conducted, except to the extent that the failure to have such authority could
not reasonably be expected to have a Material Adverse Effect.

 

(B)  It (to the extent
applicable) has the requisite power and authority and legal right to execute
and deliver this Guaranty and to perform its obligations hereunder.  The execution and delivery by each Guarantor
of this Guaranty and the performance by each of its obligations hereunder have
been duly authorized by proper proceedings, and this Guaranty constitutes a
legal, valid and binding obligation of such Guarantor, respectively,
enforceable against such Guarantor, respectively, in accordance with its terms,
except as enforceability may be limited by bankruptcy, insolvency or similar
laws affecting the enforcement of creditors’ rights generally.

 

(C)  Neither the
execution and delivery by it of this Guaranty, nor the consummation by it of
the transactions herein contemplated, nor compliance by it with the provisions
hereof will (i) violate any law, rule, regulation, order, writ, judgment,
injunction, decree or award binding on it or its articles or certificate of
incorporation (or equivalent charter documents), limited liability company or
partnership agreement, certificate of partnership, articles or certificate of
organization, by-laws, or operating agreement or other management agreement, as
the case may be, or the provisions of any indenture, instrument or agreement to
which any of the Borrowers or any of its Subsidiaries is a party or is subject,
or by which it, or its property, is bound, or (ii) conflict with, or
constitute a default under, or result in, or require, the creation or
imposition of any Lien in, of or on its property pursuant to the terms of, any
such indenture, instrument or agreement (other than any Loan Document).  No order, consent, adjudication, approval,
license, authorization, or validation of, or filing, recording or registration
with, or exemption by, or other action in respect of any governmental or public
body or authority, or any subdivision thereof, which has not been obtained by
it, is required to be obtained by it in connection with the execution, delivery
and performance by it of, or the legality, validity, binding effect or
enforceability against it of, this Guaranty.

 

In addition to the foregoing, each of the
Guarantors covenants that, so long as any Lender has any Commitment outstanding
under the Credit Agreement or any amount payable under the Credit Agreement or
any other Guaranteed Obligations shall remain unpaid, it will, and, if
necessary, will enable each of the Borrowers to, fully comply with those
covenants and agreements of such Borrower applicable to such Guarantor set
forth in the Credit Agreement.

 

SECTION 3.  The Guaranty.  Each of the Guarantors hereby unconditionally
and irrevocably guarantees, jointly with the other Guarantors and severally, as
primary obligor and not merely as a surety, irrespective of the validity of the
Obligations, waiving all rights of objection and defense arising from the
Obligations, the full and punctual payment and performance when due (whether at
stated maturity, upon acceleration or otherwise) of the Obligations, including,
without limitation, (i) the principal of and interest on each Loan made to
any Borrower pursuant to the Credit Agreement, (ii) any obligations of any
Borrower to reimburse LC Disbursements (“Reimbursement Obligations”), (iii) all
obligations of any Borrower owing to any Lender or any affiliate of any Lender
under any Swap Agreement or Banking Services Agreement, (iv) all other
amounts payable by any Borrower or any of its Subsidiaries under the Credit
Agreement, any Swap Agreement, any Banking Services Agreement and the other
Loan Documents and (v) the punctual and faithful performance, keeping,
observance, and fulfillment by any Borrower of all of the agreements,
conditions, covenants, and obligations of such Borrower contained in the Loan
Documents (all of the foregoing being referred to collectively as the 

 

2

 

“Guaranteed Obligations” and the holders from time to time of
the Guaranteed Obligations being referred to collectively as the “Holders of
Guaranteed Obligations”).  Upon (x) the
failure by any Borrower or any of its Affiliates, as applicable, to pay
punctually any such amount or perform such obligation, and (y) such
failure continuing beyond any applicable grace or notice and cure period, each
of the Guarantors agrees that it shall forthwith on demand pay such amount or
perform such obligation at the place and in the manner specified in the Credit
Agreement, any Swap Agreement, any Banking Services Agreement or the relevant
Loan Document, as the case may be.  Each
of the Guarantors hereby agrees that this Guaranty is an absolute, irrevocable
and unconditional guaranty of payment and is not a guaranty of collection.

 

SECTION 4.  Guaranty Unconditional.  The obligations of each of the Guarantors
hereunder shall be unconditional and absolute and, without limiting the
generality of the foregoing, shall not be released, discharged or otherwise
affected by:

 

(A)  any extension,
renewal, settlement, indulgence, compromise, waiver or release of or with
respect to the Guaranteed Obligations or any part thereof or any agreement
relating thereto, or with respect to any obligation of any other guarantor of
any of the Guaranteed Obligations, whether (in any such case) by operation of
law or otherwise, or any failure or omission to enforce any right, power or
remedy with respect to the Guaranteed Obligations or any part thereof or any
agreement relating thereto, or with respect to any obligation of any other
guarantor of any of the Guaranteed Obligations;

 

(B)  any modification
or amendment of or supplement to the Credit Agreement, any Swap Agreement, any
Banking Services Agreement or any other Loan Document, including, without
limitation, any such amendment which may increase the amount of, or the
interest rates applicable to, any of the Obligations guaranteed hereby;

 

(C)  any release,
surrender, compromise, settlement, waiver, subordination or modification, with
or without consideration, of any collateral securing the Guaranteed Obligations
or any part thereof, any other guaranties with respect to the Guaranteed
Obligations or any part thereof, or any other obligation of any person or
entity with respect to the Guaranteed Obligations or any part thereof, or any
nonperfection or invalidity of any direct or indirect security for the
Guaranteed Obligations;

 

(D)  any change in the
corporate, partnership or other existence, structure or ownership of any
Borrower or any other guarantor of any of the Guaranteed Obligations, or any
insolvency, bankruptcy, reorganization or other similar proceeding affecting
such Borrower or any other guarantor of the Guaranteed Obligations, or any of
their respective assets or any resulting release or discharge of any obligation
of such Borrower or any other guarantor of any of the Guaranteed Obligations;

 

(E)  the existence of any
claim, setoff or other rights which the Guarantors may have at any time against
any Borrower, any other guarantor of any of the Guaranteed Obligations, the
Administrative Agent, any Holder of Guaranteed Obligations or any other Person,
whether in connection herewith or in connection with any unrelated
transactions; provided that nothing herein shall prevent the assertion
of any such claim by separate suit or compulsory counterclaim;

 

(F)  the enforceability
or validity of the Guaranteed Obligations or any part thereof or the
genuineness, enforceability or validity of any agreement relating thereto or
with respect to any collateral securing the Guaranteed Obligations or any part
thereof, or any other invalidity or unenforceability relating to or against any
Borrower or any other guarantor of any of the Guaranteed Obligations, for any
reason related to the Credit Agreement, any Swap Agreement, 

 

3

 

any Banking Services Agreement, any other
Loan Document, or any provision of applicable law decree, order or regulation
of any jurisdiction purporting to prohibit the payment by such Borrower or any
other guarantor of the Guaranteed Obligations, of any of the Guaranteed
Obligations or otherwise affecting any term of any of the Guaranteed
Obligations;

 

(G)  the failure of the
Administrative Agent to take any steps to perfect and maintain any security
interest in, or to preserve any rights to, any security or collateral for the
Guaranteed Obligations, if any;

 

(H)  the election by,
or on behalf of, any one or more of the Holders of Guaranteed Obligations, in
any proceeding instituted under Chapter 11 of Title 11 of the United States
Code (11 U.S.C. 101 et seq.) (the “Bankruptcy Code”), of the application
of Section 1111(b)(2) of the Bankruptcy Code;

 

(I)  any borrowing or
grant of a security interest by any Borrower, as debtor-in-possession, under Section 364
of the Bankruptcy Code;

 

(J)  the disallowance,
under Section 502 of the Bankruptcy Code, of all or any portion of the
claims of the Holders of Guaranteed Obligations or the Administrative Agent for
repayment of all or any part of the Guaranteed Obligations;

 

(K)  the failure of any
other guarantor to sign or become party to this Guaranty or any amendment,
change, or reaffirmation hereof; or

 

(L)  any other act or
omission to act or delay of any kind by any Borrower, any other guarantor of
the Guaranteed Obligations, the Administrative Agent, any Holder of Guaranteed
Obligations or any other Person or any other circumstance whatsoever which
might, but for the provisions of this Section 4, constitute a legal or
equitable discharge of any Guarantor’s obligations hereunder except as provided
in Section 5.

 

SECTION 5.  Discharge Only Upon Payment In Full:
Reinstatement In Certain Circumstances. 
Each of the Guarantors’ obligations hereunder shall remain in full force
and effect until all Guaranteed Obligations shall have been paid in full in
cash and the Commitments and all Letters of Credit issued under the Credit
Agreement shall have terminated or expired. 
If at any time any payment of the principal of or interest on any Loan,
any Reimbursement Obligation or any other amount payable by any Borrower or any
other party under the Credit Agreement, any Swap Agreement, any Banking
Services Agreement or any other Loan Document is rescinded or must be otherwise
restored or returned upon the insolvency, bankruptcy or reorganization of any
Borrower or otherwise, each of the Guarantors’ obligations hereunder with
respect to such payment shall be reinstated as though such payment had been due
but not made at such time.  The parties
hereto acknowledge and agree that each of the Guaranteed Obligations shall be
due and payable in the same currency as such Guaranteed Obligation is denominated
but if currency control or exchange regulations are imposed in the country
which issues such currency with the result that such currency (the “Original
Currency”) no longer exists or the relevant Guarantor is not able to make
payment in such Original Currency, then all payments to be made by such
Guarantor hereunder in such currency shall instead be made when due in Dollars
in an amount equal to the Dollar Amount (as of the date of payment) of such
payment due, it being the intention of the parties hereto that each Guarantor
takes all risks of the imposition of any such currency control or exchange
regulations.

 

 

4

 

SECTION 6.  General Waivers; Additional Waivers.

 

(A)  General Waivers.  Each of the Guarantors irrevocably waives
acceptance hereof, presentment, demand or action on delinquency, protest, the
benefit of any statutes of limitations and, to the fullest extent permitted by
law, any notice not provided for herein, as well as any requirement that at any
time any action be taken by any Person against any Borrower, any other
guarantor of the Guaranteed Obligations, or any other Person.

 

(B)  Additional
Waivers.  Notwithstanding anything
herein to the contrary, each of the Guarantors hereby absolutely, unconditionally,
knowingly, and expressly waives:

 

(i)  any right it may
have to revoke this Guaranty as to future indebtedness or notice of acceptance
hereof;

 

(ii)  (a) notice
of acceptance hereof; (b) notice of any loans or other financial
accommodations made or extended under the Loan Documents or the creation or
existence of any Guaranteed Obligations; (c) notice of the amount of the
Guaranteed Obligations, subject, however, to each Guarantor’s right to make
inquiry of Administrative Agent and Holders of Guaranteed Obligations to
ascertain the amount of the Guaranteed Obligations at any reasonable time; (d) notice
of any adverse change in the financial condition of any Borrower or of any
other fact that might increase such Guarantor’s risk hereunder; (e) notice
of presentment for payment, demand, protest, and notice thereof as to any
instruments among the Loan Documents; (f) notice of any Default or Event
of Default; and (g) all other notices (except if such notice is
specifically required to be given to such Guarantor hereunder or under the Loan
Documents) and demands to which each Guarantor might otherwise be entitled;

 

(iii)  its right, if
any, to require the Administrative Agent and the other Holders of Guaranteed
Obligations to institute suit against, or to exhaust any rights and remedies
which the Administrative Agent and the other Holders of Guaranteed Obligations
has or may have against, the other Guarantors or any third party, or against
any Pledged Equity provided by the other Guarantors, or any third party; and
each Guarantor further waives any defense arising by reason of any disability
or other defense (other than the defense that the Guaranteed Obligations shall
have been fully and finally performed and indefeasibly paid) of the other
Guarantors or by reason of the cessation from any cause whatsoever of the
liability of the other Guarantors in respect thereof;

 

(iv)  (a) any
rights to assert against the Administrative Agent and the other Holders of
Guaranteed Obligations any defense (legal or equitable), set-off, counterclaim,
or claim which such Guarantor may now or at any time hereafter have against the
other Guarantors or any other party liable to the Administrative Agent and the
other Holders of Guaranteed Obligations; (b) any defense, set-off,
counterclaim, or claim, of any kind or nature, arising directly or indirectly
from the present or future lack of perfection, sufficiency, validity, or
enforceability of the Guaranteed Obligations or any security therefor; (c) any
defense such Guarantor has to performance hereunder, and any right such
Guarantor has to be exonerated, arising by reason of:  the impairment or suspension of the
Administrative Agent’s and the other Holders of Guaranteed Obligations’ rights
or remedies against the other Guarantors; the alteration by the Administrative
Agent and the other Holders of Guaranteed Obligations of the Guaranteed
Obligations; any discharge of the other Guarantors’ obligations to the
Administrative Agent and the other Holders of Guaranteed Obligations by operation
of law as a result of the Administrative Agent’s and the other Holders of
Guaranteed Obligations’ intervention or omission; or the acceptance by the
Administrative Agent and the other Holders of Guaranteed Obligations of
anything in partial satisfaction of the Guaranteed Obligations; and (d) the
benefit of any statute of limitations affecting such Guarantor’s liability
hereunder 

 

5

 

or the enforcement thereof, and any act which
shall defer or delay the operation of any statute of limitations applicable to
the Guaranteed Obligations shall similarly operate to defer or delay the
operation of such statute of limitations applicable to such Guarantor’s
liability hereunder; and

 

(v)  any defense
arising by reason of or deriving from (a) any claim or defense based upon
an election of remedies by the Administrative Agent and the other Holders of
Guaranteed Obligations; or (b) any election by the Administrative Agent
and the other Holders of Guaranteed Obligations under Section 1111(b) of
Title 11 of the United States Code entitled “Bankruptcy”, as now and hereafter
in effect (or any successor statute), to limit the amount of, or any collateral
securing, its claim against the Guarantors.

 

SECTION 7.  Subordination of Subrogation;
Subordination of Intercompany Indebtedness.

 

(A)  Subordination
of Subrogation.  Until the Guaranteed
Obligations have been fully and finally performed and indefeasibly paid in full
in cash, the Guarantors (i) shall have no right of subrogation with
respect to such Guaranteed Obligations, (ii) waive any right to enforce
any remedy which the Holders of Guaranteed Obligations, the Issuing Bank or the
Administrative Agent now have or may hereafter have against any Borrower, any
endorser or any guarantor of all or any part of the Guaranteed Obligations or
any other Person, and (iii) waive any benefit of, and any right to
participate in, any security or collateral given to the Holders of Guaranteed
Obligations, the Issuing Bank and the Administrative Agent to secure the
payment or performance of all or any part of the Guaranteed Obligations or any
other liability of any Borrower to the Holders of Guaranteed Obligations or the
Issuing Bank.  Should any Guarantor have
the right, notwithstanding the foregoing, to exercise its subrogation rights,
each Guarantor hereby expressly and irrevocably (i) subordinates any and
all rights at law or in equity to subrogation, reimbursement, exoneration,
contribution, indemnification or set off that such Guarantor may have to the
indefeasible payment in full in cash of the Guaranteed Obligations and (ii) waives
any and all defenses available to a surety, guarantor or accommodation
co-obligor until the Guaranteed Obligations are indefeasibly paid in full in
cash.  Each Guarantor acknowledges and
agrees that this subordination is intended to benefit the Administrative Agent
and the other Holders of Guaranteed Obligations and shall not limit or
otherwise affect such Guarantor’s liability hereunder or the enforceability of
this Guaranty, and that the Administrative Agent, the other Holders of
Guaranteed Obligations and their respective successors and assigns are intended
third party beneficiaries of the waivers and agreements set forth in this Section 7(A).

 

(B)  Subordination
of Intercompany Indebtedness.  Each
Guarantor agrees that any and all claims of such Guarantor against any Borrower
or any other Guarantor hereunder (each an “Obligor”) with respect to any
“Intercompany Indebtedness” (as hereinafter defined), any endorser, obligor or
any other guarantor of all or any part of the Guaranteed Obligations, or
against any of its properties shall be subordinate and subject in right of
payment to the prior payment, in full and in cash, of all Guaranteed
Obligations; provided that, as long as no Event of Default has occurred
and is continuing, such Guarantor may receive payments of principal and
interest from any Obligor with respect to Intercompany Indebtedness.  Notwithstanding any right of any Guarantor to
ask, demand, sue for, take or receive any payment from any Obligor, all rights,
liens and security interests of such Guarantor, whether now or hereafter
arising and howsoever existing, in any assets of any other Obligor shall be and
are subordinated to the rights of the Holders of Guaranteed Obligations and the
Administrative Agent in those assets. No Guarantor shall have any right to
possession of any such asset or to foreclose upon any such asset, whether by
judicial action or otherwise, unless and until all of the Guaranteed
Obligations shall 

 

6

 

have been fully paid and satisfied (in cash)
and all financing arrangements pursuant to any Loan Document, any Swap
Agreement or any Banking Services Agreement have been terminated.  If all or any part of the assets of any
Obligor, or the proceeds thereof, are subject to any distribution, division or
application to the creditors of such Obligor, whether partial or complete,
voluntary or involuntary, and whether by reason of liquidation, bankruptcy,
arrangement, receivership, assignment for the benefit of creditors or any other
action or proceeding, or if the business of any such Obligor is dissolved or if
substantially all of the assets of any such Obligor are sold, then, and in any
such event (such events being herein referred to as an “Insolvency Event”),
any payment or distribution of any kind or character, either in cash,
securities or other property, which shall be payable or deliverable upon or
with respect to any indebtedness of any Obligor to any Guarantor (“Intercompany
Indebtedness”) shall be paid or delivered directly to the Administrative
Agent for application on any of the Guaranteed Obligations, due or to become
due, until such Guaranteed Obligations shall have first been fully paid and
satisfied (in cash).  Should any payment,
distribution, security or instrument or proceeds thereof be received by the
applicable Guarantor upon or with respect to the Intercompany Indebtedness after
any Insolvency Event and prior to the satisfaction of all of the Guaranteed
Obligations and the termination of all financing arrangements pursuant to any
Loan Document among any Borrower and the Holders of Guaranteed Obligations,
such Guarantor shall receive and hold the same in trust, as trustee, for the
benefit of the Holders of Guaranteed Obligations and shall forthwith deliver
the same to the Administrative Agent, for the benefit of the Holders of
Guaranteed Obligations, in precisely the form received (except for the
endorsement or assignment of the Guarantor where necessary), for application to
any of the Guaranteed Obligations, due or not due, and, until so delivered, the
same shall be held in trust by the Guarantor as the property of the Holders of
Guaranteed Obligations.  If any such Guarantor
fails to make any such endorsement or assignment to the Administrative Agent,
the Administrative Agent or any of its officers or employees is irrevocably
authorized to make the same.  Each
Guarantor agrees that until the Guaranteed Obligations (other than the
contingent indemnity obligations) have been paid in full (in cash) and
satisfied and all financing arrangements pursuant to any Loan Document among
any Borrower and the Holders of Guaranteed Obligations have been terminated, no
Guarantor will assign or transfer to any Person (other than the Administrative
Agent) any claim any such Guarantor has or may have against any Obligor.

 

SECTION 8.  Contribution with Respect to Guaranteed
Obligations.

 

(A)  To the extent that
any Guarantor shall make a payment under this Guaranty (a “Guarantor Payment”)
which, taking into account all other Guarantor Payments then previously or
concurrently made by any other Guarantor, exceeds the amount which otherwise
would have been paid by or attributable to such Guarantor if each Guarantor had
paid the aggregate Guaranteed Obligations satisfied by such Guarantor Payment
in the same proportion as such Guarantor’s “Allocable Amount” (as defined
below) (as determined immediately prior to such Guarantor Payment) bore to the aggregate
Allocable Amounts of each of the Guarantors as determined immediately prior to
the making of such Guarantor Payment, then, following indefeasible payment in
full in cash of the Guaranteed Obligations and termination of the Credit
Agreement, the Swap Agreements and the Banking Services Agreements, such
Guarantor shall be entitled to receive contribution and indemnification
payments from, and be reimbursed by, each other Guarantor for the amount of
such excess, pro rata based upon their respective Allocable Amounts in effect
immediately prior to such Guarantor Payment.

 

(B)  As of any date of
determination, the “Allocable Amount” of any Guarantor shall be equal to the
maximum amount of the claim which could then be recovered from such Guarantor
under this Guaranty without rendering such claim voidable or avoidable under Section 548
of

 

7

 

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)  This Section 8
is intended only to define the relative rights of the Guarantors, and nothing
set forth in this Section 8 is intended to or shall impair the obligations
of the Guarantors, jointly and severally, to pay any amounts as and when the
same shall become due and payable in accordance with the terms of this
Guaranty.

 

(D)  The parties hereto
acknowledge that the rights of contribution and indemnification hereunder shall
constitute assets of the Guarantor or Guarantors to which such contribution and
indemnification is owing.

 

(E)  The rights of the
indemnifying Guarantors against other Guarantors under this Section 8
shall be exercisable upon the full and indefeasible payment of the Guaranteed
Obligations in cash and the termination of the Credit Agreement, the Swap
Agreements and the Banking Services Agreements.

 

SECTION 9.  Stay of Acceleration.  If acceleration of the time for payment of
any amount payable by any Borrower under the Credit Agreement, any Swap
Agreement, any Banking Services Agreement or any other Loan Document is stayed
upon the insolvency, bankruptcy or reorganization of such Borrower, all such
amounts otherwise subject to acceleration under the terms of the Credit
Agreement, any Swap Agreement, any Banking Services Agreement or any other Loan
Document shall nonetheless be payable by each of the Guarantors hereunder forthwith
on demand by the Administrative Agent.

 

SECTION 10.  Notices. All notices, requests and
other communications to any party hereunder shall be given in the manner
prescribed in Article IX of the Credit Agreement with respect to the
Administrative Agent at its notice address therein and with respect to any
Guarantor, in care of the Company at the address of the Company set forth in
the Credit Agreement or such other address or telecopy number as such party may
hereafter specify for such purpose by notice to the Administrative Agent in
accordance with the provisions of such Article IX.

 

SECTION 11.  No Waivers.  No failure or delay by the Administrative
Agent or any other Holder of Guaranteed Obligations in exercising any right,
power or privilege hereunder shall operate as a waiver thereof nor shall any
single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any other right, power or privilege.  The rights and remedies provided in this
Guaranty, the Credit Agreement, any Swap Agreement, any Banking Services
Agreement and the other Loan Documents shall be cumulative and not exclusive of
any rights or remedies provided by law.

 

SECTION 12.  Successors and Assigns.  This Guaranty is for the benefit of the
Administrative Agent and the other Holders of Guaranteed Obligations and their
respective successors and permitted assigns; provided, that no Guarantor
shall have any right to assign its rights or obligations hereunder without the
consent of all of the Lenders, and any such assignment in violation of this Section 12
shall be null and void; and in the event of an assignment of any amounts
payable under the Credit Agreement, any Swap Agreement, any Banking Services
Agreement or the other Loan Documents in accordance with the respective terms
thereof, the rights hereunder, to the extent applicable to the indebtedness so
assigned, may be transferred with such indebtedness. This Guaranty shall be
binding upon each of the Guarantors and their respective successors and assigns.

 

SECTION 13.  Changes in Writing.  Other than in connection with the addition of
additional Subsidiaries, which become parties hereto by executing a supplement
hereto in the form 

 

8

 

attached as Annex I, neither this Guaranty nor any provision hereof may
be changed, waived, discharged or terminated orally, but only in writing signed
by each of the Guarantors and the Administrative Agent with the consent of the
Required Lenders under the Credit Agreement.

 

SECTION 14.  GOVERNING LAW.  THIS GUARANTY SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

 

SECTION 15.  CONSENT TO JURISDICTION; SERVICE OF
PROCESS; JURY TRIAL; IMMUNITY.

 

(A)  CONSENT TO
JURISDICTION.  EACH GUARANTOR HEREBY
IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES
FEDERAL OR NEW YORK STATE COURT SITTING IN THE CITY OF NEW YORK IN ANY ACTION
OR PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY AND EACH GUARANTOR
HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR
PROCEEDING MAY BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY
WAIVES ANY OBJECTION IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY
SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS
AN INCONVENIENT FORUM.  NOTHING HEREIN
SHALL LIMIT THE RIGHT OF THE ADMINISTRATIVE AGENT, THE ISSUING BANK OR ANY
LENDER TO BRING PROCEEDINGS AGAINST ANY GUARANTOR IN THE COURTS OF ANY OTHER
JURISDICTION.  ANY JUDICIAL PROCEEDING BY
ANY GUARANTOR AGAINST THE ADMINISTRATIVE AGENT, THE ISSUING BANK OR ANY LENDER
OR ANY AFFILIATE OF THE ADMINISTRATIVE AGENT, THE ISSUING BANK OR ANY LENDER
INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF,
RELATED TO, OR CONNECTED WITH THIS GUARANTY OR ANY OTHER LOAN DOCUMENT SHALL BE
BROUGHT ONLY IN A COURT IN THE CITY OF NEW YORK.

 

(B)  EACH GUARANTOR
WHICH IS A FOREIGN SUBSIDIARY (A “FOREIGN GUARANTOR”) IRREVOCABLY DESIGNATES
AND APPOINTS THE COMPANY, AS ITS AUTHORIZED AGENT, TO ACCEPT AND ACKNOWLEDGE ON
ITS BEHALF, SERVICE OF ANY AND ALL PROCESS WHICH MAY BE SERVED IN ANY
SUIT, ACTION OR PROCEEDING OF THE NATURE REFERRED TO IN CLAUSE (A) ABOVE.  SAID DESIGNATION AND APPOINTMENT SHALL BE
IRREVOCABLE BY EACH SUCH FOREIGN GUARANTOR UNTIL ALL GUARANTEED OBLIGATIONS
PAYABLE BY SUCH FOREIGN GUARANTOR HEREUNDER AND UNDER THE OTHER LOAN DOCUMENTS
SHALL HAVE BEEN PAID IN FULL IN ACCORDANCE WITH THE PROVISIONS HEREOF AND
THEREOF.  EACH FOREIGN GUARANTOR HEREBY
CONSENTS TO PROCESS BEING SERVED IN ANY SUIT, ACTION OR PROCEEDING OF THE
NATURE REFERRED TO IN CLAUSE (A) ABOVE BY SERVICE OF PROCESS UPON THE
COMPANY AS PROVIDED IN THIS CLAUSE (B); PROVIDED THAT, TO THE EXTENT
LAWFUL AND POSSIBLE, NOTICE OF SAID SERVICE UPON SUCH AGENT SHALL BE MAILED BY
REGISTERED OR CERTIFIED AIR MAIL, POSTAGE PREPAID, RETURN RECEIPT REQUESTED, TO
THE COMPANY OR TO ANY OTHER ADDRESS OF WHICH SUCH FOREIGN GUARANTOR SHALL HAVE
GIVEN WRITTEN NOTICE TO THE ADMINISTRATIVE AGENT (WITH A COPY THEREOF TO THE
COMPANY).  EACH FOREIGN GUARANTOR
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ALL CLAIM OF ERROR
BY REASON OF ANY SUCH SERVICE IN SUCH MANNER AND AGREES THAT SUCH SERVICE SHALL
BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON SUCH FOREIGN 

 

9

 

GUARANTOR IN ANY SUCH SUIT, ACTION OR
PROCEEDING AND SHALL, TO THE FULLEST EXTENT PERMITTED BY LAW, BE TAKEN AND HELD
TO BE VALID AND PERSONAL SERVICE UPON AND PERSONAL DELIVERY TO SUCH FOREIGN
GUARANTOR.  NOTHING HEREIN WILL AFFECT
THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY
LAW.

 

(C)  WAIVER OF JURY
TRIAL.  EACH GUARANTOR HEREBY WAIVES  TRIAL BY JURY IN ANY JUDICIAL PROCEEDING
INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT,
CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH
THIS GUARANTY OR ANY OTHER LOAN DOCUMENT OR THE RELATIONSHIP ESTABLISHED
THEREUNDER AND FURTHER WAIVES ANY RIGHT TO INTERPOSE ANY COUNTERCLAIM RELATED
TO THIS GUARANTY OR THE TRANSACTIONS CONTEMPLATED HEREBY IN SUCH ACTION.

 

(D)  TO THE EXTENT THAT
ANY GUARANTOR HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM JURISDICTION
OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER FROM SERVICE OR NOTICE, ATTACHMENT
PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OF A JUDGMENT, EXECUTION OR
OTHERWISE), EACH GUARANTOR HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT
OF ITS OBLIGATIONS UNDER THIS GUARANTY.

 

SECTION 16.  No Strict Construction.  The parties hereto have participated jointly
in the negotiation and drafting of this Guaranty.  In the event an ambiguity or question of
intent or interpretation arises, this Guaranty shall be construed as if drafted
jointly by the parties hereto and no presumption or burden of proof shall arise
favoring or disfavoring any party by virtue of the authorship of any provisions
of this Guaranty.

 

SECTION 17.  Taxes, Expenses of Enforcement, etc.

 

(A)  Taxes.

 

(i)  All payments by
any Guarantor to or for the account of any Lender, the Issuing Bank, the
Administrative Agent or any other Holder of Guaranteed Obligations hereunder or
under any promissory note or application for a Letter of Credit shall be made
free and clear of and without deduction for any and all Taxes.  If any Guarantor shall be required by law to
deduct any Taxes from or in respect of any sum payable hereunder to any Lender,
the Issuing Bank, the Administrative Agent or any other Holder of Guaranteed
Obligations, (a) 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 17(A)) such Lender, the Issuing
Bank, the Administrative Agent or any other Holder of Guaranteed Obligations
(as the case may be) receives an amount equal to the sum it would have received
had no such deductions been made, (b) such Guarantor shall make such
deductions, (c) such Guarantor shall pay the full amount deducted to the
relevant authority in accordance with applicable law and (d) such
Guarantor shall furnish to the Administrative Agent the original copy of a
receipt evidencing payment thereof within thirty (30) days after such payment
is made.

 

(ii)  In addition, the
Guarantors hereby agree to pay any present or future stamp or documentary taxes
and any other excise or property taxes, charges or similar levies which arise
from any payment made hereunder or under any promissory note or application for
a Letter of Credit or from the execution or delivery of, or otherwise with
respect to, this Guaranty or any 

 

10

 

promissory note or application for a Letter
of Credit (“Other Taxes”).  For
the avoidance of doubt, each applicable Guarantor shall be entitled to deduct
and withhold from any payment under this Guaranty the amount of any Excluded
Taxes required to be deducted and withheld under applicable law.

 

(iii)  The Guarantors
hereby agree to indemnify the Administrative Agent, the Issuing Bank, each
Lender and any other Holder of Guaranteed Obligations for the full amount of
Taxes or Other Taxes (including, without limitation, any Taxes or Other Taxes
imposed on amounts payable under this Section 17(A)) paid by the
Administrative Agent, the Issuing Bank, such Lender or such other Holder of
Guaranteed Obligations and any liability (including penalties, interest and
expenses) arising therefrom or with respect thereto.  Payments due under this indemnification shall
be made within thirty (30) days of the date the Administrative Agent, the
Issuing Bank, such Lender or such other Holder of Guaranteed Obligations makes
demand therefor.

 

(iv)  By accepting the
benefits hereof, each Foreign Lender agrees that it will comply with Section 2.17(e) of
the Credit Agreement.

 

(B)  Expenses of Enforcement,
Etc.  Subject to the terms of the Credit
Agreement, after the occurrence of an Event of Default under the Credit
Agreement, the Lenders shall have the right at any time to direct the
Administrative Agent to commence enforcement proceedings with respect to the
Guaranteed Obligations.  The Guarantors
agree to reimburse the Administrative Agent and the other Holders of Guaranteed
Obligations for any reasonable costs and out-of-pocket expenses (including
reasonable attorneys’ fees and time charges of attorneys for the Administrative
Agent and the other Holders of Guaranteed Obligations, which attorneys may be
employees of the Administrative Agent or the other Holders of Guaranteed
Obligations) paid or incurred by the Administrative Agent or any other Holder
of Guaranteed Obligations in connection with the collection and enforcement of
amounts due under the Loan Documents, including without limitation this
Guaranty.  The Administrative Agent
agrees to distribute payments received from any of the Guarantors hereunder to
the other Holders of Guaranteed Obligations on a pro rata basis for application
in accordance with the terms of the Credit Agreement.

 

SECTION 18.  Setoff.  At any time after all or any part of the
Guaranteed Obligations have become due and payable (by acceleration or
otherwise), each Holder of Guaranteed Obligations (including the Administrative
Agent) may, without notice to any Guarantor and regardless of the acceptance of
any security or collateral for the payment hereof, appropriate and apply in
accordance with the terms of the Credit Agreement toward the payment of all or
any part of the Guaranteed Obligations then due and payable (i) any
indebtedness due or to become due from such Holder of Guaranteed Obligations or
the Administrative Agent to any Guarantor, and (ii) any moneys, credits or
other property belonging to any Guarantor, at any time held by or coming into
the possession of such Holder of Guaranteed Obligations (including the
Administrative Agent) or any of their respective affiliates.

 

SECTION 19.  Financial Information.  Each Guarantor hereby assumes responsibility
for keeping itself informed of the financial condition of each of the Borrowers
and any and all endorsers and/or other Guarantors of all or any part of the
Guaranteed Obligations, and of all other circumstances bearing upon the risk of
nonpayment of the Guaranteed Obligations, or any part thereof, that diligent
inquiry would reveal, and each Guarantor hereby agrees that none of the Holders
of Guaranteed Obligations (including the Administrative Agent) shall have any
duty to advise such Guarantor of information known to any of them regarding
such condition or any such circumstances. 
In the event any Holder of Guaranteed Obligations (including the
Administrative Agent), in its sole discretion, undertakes 

 

11

 

at any time or from time to time to provide any such information to a
Guarantor, such Holder of Guaranteed Obligations (including the Administrative
Agent) shall be under no obligation (i) to undertake any investigation not
a part of its regular business routine, (ii) to disclose any information
which such Holder of Guaranteed Obligations (including the Administrative
Agent), pursuant to accepted or reasonable commercial finance or banking
practices, wishes to maintain confidential or (iii) to make any other or
future disclosures of such information or any other information to such
Guarantor.

 

SECTION 20.  Severability.  Wherever possible, each provision of this
Guaranty shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Guaranty shall be prohibited by or
invalid under such law, such provision shall be ineffective to the extent of
such prohibition or invalidity without invalidating the remainder of such
provision or the remaining provisions of this Guaranty.

 

SECTION 21.  Merger.  This Guaranty represents the final agreement
of each of the Guarantors with respect to the matters contained herein and may
not be contradicted by evidence of prior or contemporaneous agreements, or
subsequent oral agreements, between the Guarantor and any Holder of Guaranteed
Obligations (including the Administrative Agent).

 

SECTION 22.  Headings.  Section headings in this Guaranty are
for convenience of reference only and shall not govern the interpretation of
any provision of this Guaranty.

 

SECTION 23.  Judgment Currency.  If for the purposes of obtaining judgment in
any court it is necessary to convert a sum due from any Guarantor hereunder in
the currency expressed to be payable herein (the “specified currency”)
into another currency, the parties hereto agree, to the fullest extent that
they may effectively do so, that the rate of exchange used shall be that at
which in accordance with normal banking procedures the Administrative Agent
could purchase the specified currency with such other currency at the
Administrative Agent’s main New York City office on the Business Day preceding
that on which final, non-appealable judgment is given.  The obligations of each Guarantor in respect
of any sum due hereunder shall, notwithstanding any judgment in a currency
other than the specified currency, be discharged only to the extent that on the
Business Day following receipt by any Holder of Guaranteed Obligations
(including the Administrative Agent), as the case may be, of any sum adjudged
to be so due in such other currency such Holder of Guaranteed Obligations
(including the Administrative Agent), as the case may be, may in accordance with
normal, reasonable banking procedures purchase the specified currency with such
other currency.  If the amount of the
specified currency so purchased is less than the sum originally due to such
Holder of Guaranteed Obligations (including the Administrative Agent), as the
case may be, in the specified currency, each Guarantor agrees, to the fullest
extent that it may effectively do so, as a separate obligation and
notwithstanding any such judgment, to indemnify such Holder of Guaranteed
Obligations (including the Administrative Agent), as the case may be, against
such loss, and if the amount of the specified currency so purchased exceeds (a) the
sum originally due to any Holder of Guaranteed Obligations (including the
Administrative Agent), as the case may be, in the specified currency and (b) amounts
shared with other Holders of Guaranteed Obligations as a result of allocations
of such excess as a disproportionate payment to such other Holder of Guaranteed
Obligations under Section 2.18 of the Credit Agreement, such Holder of
Guaranteed Obligations (including the Administrative Agent), as the case may
be, agrees, by accepting the benefits hereof, to remit such excess to such
Guarantor.

 

SECTION 24.  Limitation of Liability of German
Guarantor.  Nothing in this Guaranty
shall oblige a Guarantor that is a German GmbH Obligor to make a payment in
respect of this Guaranty if and to the extent that this Guaranty shall secure
obligations of such Guarantor’s shareholders and/or affiliated companies (verbundene Unternehmen) of such shareholder within the
meaning of Section 15 of the German Stock Corporation Act (Aktiengesetz) (other than the Subsidiaries of such
Guarantor) and 

 

12

 

such payment would cause such Guarantor not to have sufficient net
assets (Reinvermögen) to maintain its stated
share capital (Stammkapital) and as a result
cause a violation of Sections 30, 31 of the German Limited Liability Companies
Act (Gesetz betreffend die Gesellschaften mit
beschränkter Haftung).

 

SECTION 25.  Limitation of Liability of Swiss Guarantor.  Nothing
in this Guaranty shall oblige a Guarantor which is a Swiss Subsidiary (a “Swiss
Guarantor”) to make any payment in respect of this Guaranty for any other
Loan Party which is not a Subsidiary of such Swiss Guarantor unless such
payments are limited to the amount of the freely disposable shareholders equity
of such Swiss Guarantor at the time of the enforcement of the obligations and
liabilities under this Guarantor.  The
freely disposable shareholder equity shall be determined in accordance with
Swiss law and Swiss accounting principles and shall correspond to such Swiss
Guarantor’s total shareholder equity less the total of (i) its aggregate
share capital and (ii) its statutory reserves (including reserves for own
shares and revaluations as well as agio) to the extent such reserves are not
available for distribution at the time of the enforcement of the obligations
and liabilities of such Swiss Guarantor under this Guaranty for the obligations
under the Loan Documents of any other Loan Party which is not a subsidiary of
such Swiss Guarantor, which amount shall be (a) determined on the basis of
an audited annual or interim balance sheet of each Swiss Guarantor, (b) approved
by the auditors of each Swiss Guarantor as distributable amount and (c) approved
by a shareholders’ resolution of each Swiss Guarantor in accordance with the
provisions of the Swiss Code of Obligations.

 

SECTION 26.  Limitation of Liability of Foreign
Guarantor.  Notwithstanding anything
contained in this Guaranty to the contrary, no Guarantor which is an Affected
Foreign Subsidiary shall be liable hereunder for any of the Loan made to, or
any other Guaranteed Obligation of, the Company or any Subsidiary Guarantor which
is a Domestic Subsidiary.

 

Remainder of Page Intentionally Blank.

 

13

 

IN WITNESS WHEREOF, each of the Initial
Guarantors has caused this Guaranty to be duly executed by its authorized
officer as of the day and year first above written.

 

	
   

  	
  [GUARANTORS]

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

14

 

 

Acknowledged and Agreed

as of the date first written above:

 

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

 

 

	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  

 

15

 

ANNEX I TO GUARANTY

 

 

Reference is hereby made to the Guaranty (the
“Guaranty”) made as of February 26, 2008, by and among [GUARANTORS
TO COME] (the “Initial Guarantors” and along with any additional
Subsidiaries of the Company, which become parties thereto and together with the
undersigned, the “Guarantors”) in favor of the Administrative Agent, for
the ratable benefit of the Holders of Guaranteed Obligations, under the Credit
Agreement.  Capitalized terms used herein
and not defined herein shall have the meanings given to them in the
Guaranty.  By its execution below, the
undersigned [NAME OF NEW GUARANTOR], a [corporation] [partnership] [limited
liability company], agrees to become, and does hereby become, a Guarantor under
the Guaranty and agrees to be bound by such Guaranty as if originally a party
thereto.  By its execution below, the
undersigned represents and warrants as to itself that all of the
representations and warranties contained in Section 2 of the Guaranty are
true and correct in all respects as of the date hereof.

 

IN WITNESS WHEREOF, [NAME OF NEW GUARANTOR],
a [corporation] [partnership] [limited liability company] has executed and
delivered this Annex I counterpart to the Guaranty as of this
                    
day of
                  ,
20      .

 

 

	
   

  	
  [NAME OF NEW GUARANTOR]

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Its:

  	
   

  

 

16

 

EXHIBIT H

 

 

[FORM OF]

 

 

PLEDGE
AGREEMENT

 

THIS PLEDGE AGREEMENT, dated
as of February 26, 2008 (as the same may be amended, restated,
supplemented or otherwise modified from time to time, the “Pledge Agreement”),
is entered into by and between Bruker BioSciences Corporation, a Delaware
corporation (the “Company”) and the other Subsidiaries of the Company
listed on the signature pages hereof (together with the Company, the “Initial
Pledgors”), and certain other Subsidiaries of the Company from time to time
signatories hereto pursuant to a supplement in the form of Exhibit A
(the Initial Pledgors and each such other Subsidiary is individually referred
to herein as a “Pledgor” and collectively as the “Pledgors”), and
JPMorgan Chase Bank, N.A., acting in its capacity as contractual representative
(the “Administrative Agent”) for itself and for the Secured Parties (as
defined in the Credit Agreement identified below).  Capitalized terms used herein and not otherwise
defined herein (including, without limitation, Section 1 hereof)
shall have the respective meanings ascribed to such terms in the Credit
Agreement.

 

RECITALS:

 

WHEREAS, the Company,
certain Subsidiaries of the Company from time to time parties thereto as
borrowers (together with the Company, the “Borrowers”), the financial
institutions from time to time party thereto as lenders (collectively, the “Lenders”),
and Administrative Agent have entered into that certain Credit Agreement of
even date herewith (as the same may be amended, restated, supplemented or
otherwise modified from time to time, the “Credit Agreement” and the
agreements, documents and instruments executed and/or delivered pursuant
thereto or in connection therewith, including, without limitation, any guaranty
delivered in connection therewith, the “Loan Documents”), which Credit
Agreement provides, subject to the terms and conditions thereof, for extensions
of credit and other financial accommodations to be made by the Lenders to or
for the benefit of the Borrowers;

 

WHEREAS, the Pledgors wish
to secure their obligations to the Secured Parties pursuant to the terms of
this Pledge Agreement;

 

WHEREAS, each of the
Pledgors is willing to pledge its capital stock, membership interests or
partnership interests in certain of its Subsidiaries to the Administrative
Agent, for the benefit of the Secured Parties, as security for the Obligations
pursuant to the terms of this Pledge Agreement;

 

WHEREAS, Schedule I
hereto sets forth certain of the Pledgors’ Subsidiaries (the “Initial
Pledged Subsidiaries”);

 

WHEREAS, additional
Subsidiaries of the Company may become Pledgors under this Pledge Agreement by
executing and delivering to the Administrative Agent a supplement to this
Pledge Agreement substantially in the form of Exhibit A hereto
(each such supplement, a “Pledge Supplement”) setting forth additional
Subsidiaries of such Pledgor (the “Supplemental Pledged Subsidiaries”);

 

WHEREAS, each Pledgor may
from time to time execute and deliver to the Administrative Agent an amendment
to this Pledge Agreement substantially in the form of Exhibit B
hereto (each such amendment, a “Pledge Amendment”) setting forth
additional Subsidiaries of such Pledgor (the “Additional Pledged
Subsidiaries”) (the Initial Pledged Subsidiaries, the Additional Pledged 

 

 

 

Subsidiaries
and the Supplemental Pledged Subsidiaries collectively referred to herein as
the “Pledged Subsidiaries”);

 

NOW, THEREFORE, for and in
consideration of the foregoing and of any financial accommodations or
extensions of credit (including, without limitation, any loan or advance by
renewal, refinancing or extension of the agreements described hereinabove or
otherwise) heretofore, now or hereafter made to or for the benefit of any
Pledgor pursuant to any Loan Document, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the Pledgors and the Administrative Agent hereby agree as follows:

 

SECTION 1.                                Definitions.  Unless otherwise defined herein, terms defined
in the Credit Agreement are used herein as therein defined (and, with respect
to such terms, the singular shall include the plural and vice versa and any
gender shall include any other gender as the context may require), and the
following terms shall have the following meaning:

 

“Guarantors” means
the Company or any Subsidiary of the Company party to a Subsidiary Guaranty.

 

“UCC” shall mean the
Uniform Commercial Code as the same may, from time to time, be in effect in the
State of New York, as amended or supplemented from time to time; provided,
however, in the event that, by reason of mandatory provisions of law,
any or all of the attachment, perfection or priority of the Administrative
Agent’s and the Secured Parties’ security interest in any Pledged Collateral is
governed by the Uniform Commercial Code as in effect in a jurisdiction other
than the State of New York, the term “UCC” shall mean the Uniform
Commercial Code as in effect in such other jurisdiction for purposes of the
provisions hereof relating to such attachment, perfection or priority and for
purposes of definitions related to such provisions.  Any and all terms used in this Pledge
Agreement which are defined in the UCC shall be construed and defined in
accordance with the meaning and definition ascribed to such terms under the
UCC, unless otherwise defined herein.

 

SECTION 2.                                Pledge.  Each Pledgor hereby pledges to the
Administrative Agent, for the benefit of the Administrative Agent and the
Secured Parties, and grants to the Administrative Agent, for the benefit of the
Administrative Agent and the Secured Parties, a security interest in, the
collateral described in subsections (a) through (c) below
(collectively, the “Pledged Collateral”):

 

(a)                                  (i)                                     All of the
capital stock of the Pledged Subsidiaries listed on Schedule I which are
corporations, now or at any time or times hereafter owned directly by the
Pledgor (such shares being identified on Schedule I attached hereto or
on any Schedule I attached to any applicable Pledge Supplement or Pledge
Amendment), and the certificates representing the shares of such capital stock,
all options and warrants for the purchase of shares of the stock of such
Pledged Subsidiaries now or hereafter held in the name of the Pledgor (all of
said capital stock, options and warrants and all capital stock held in the name
of the Pledgor as a result of the exercise of such options or warrants being
hereinafter collectively referred to as the “Pledged Stock”), herewith,
or from time to time, delivered to the Administrative Agent accompanied by
stock powers in the form of Exhibit C attached hereto and made a
part hereof (the “Powers”) duly executed in blank, and all dividends,
cash, instruments, investment property and other property from time to time
received, receivable or otherwise distributed in respect of, or in exchange
for, any or all of the Pledged Stock;

 

                                                                                                (ii)                                  All additional
shares of capital stock of the Pledged Subsidiaries described in Section 2(a)(i) above
from time to time acquired by the Pledgor in any manner, and the certificates,
which shall be delivered to the Administrative Agent accompanied by Powers 

 

18

 

duly
executed in blank, representing such additional shares (any such additional
shares shall constitute part of the Pledged Stock, and the Administrative Agent
is irrevocably authorized to unilaterally amend Schedule I hereto or any
Schedule I to any applicable Pledge Supplement or Pledge Amendment to
reflect such additional shares), and all options, warrants, dividends, cash,
instruments, investment property and other rights and options from time to time
received, receivable or otherwise distributed in respect of or in exchange for
any or all of such shares;

 

(b)                                 (i)                                     All of the
membership interests of Pledgor in the Pledged Subsidiaries listed on Schedule
I which are limited liability companies now or at any time or times
hereafter owned directly by the Pledgor, and any certificates representing such
membership interests in the Pledged Subsidiaries (such membership interests
being identified on Schedule I attached hereto or  on any Schedule I attached to any
applicable Pledge Supplement or Pledge Amendment), all of the right, title and
interest of the Pledgor in, to and under its respective percentage interest,
shares or units as a member and all investment property in respect of such
membership interests, including, without limitation, Pledgor’s interest in (or
allocation of) the profits, losses, income, gains, deductions, credits or
similar items of such Pledged Subsidiaries and the right to receive
distributions of such Pledged Subsidiary’s cash, other property, assets, and
all options and warrants for the purchase of membership interests, whether now
existing or hereafter arising, whether arising under the terms of the
certificates of formation, the limited liability company agreements or any of
the other organizational documents (such documents hereinafter collectively
referred to as the “Operating Agreements”) of such Pledged Subsidiaries,
or at law or in equity, or otherwise and any and all of the proceeds thereof
(all of said membership interests, certificates, and warrants being hereinafter
collectively referred to as the “Pledged Membership Interests”) herewith
delivered, if applicable, to the Administrative Agent indorsed in blank or
accompanied by appropriate instruments of transfer duly executed in blank, and
all distributions, cash, instruments, investment property and other property
from time to time received, receivable or otherwise distributed in respect of,
or in exchange for, any or all of the Pledged Membership Interests;

 

(ii)                                  Any additional
membership interests in the Pledged Subsidiaries described in Section 2(b)(i) above
from time to time acquired by the Pledgor in any manner, and any certificates,
which, if applicable, shall be delivered to the Administrative Agent indorsed
in blank or accompanied by appropriate instruments of transfer duly executed in
blank, representing such additional membership interests or any additional percentage
interests, shares, units, options or warrants of membership interests in
Pledged Subsidiaries (any such additional interests shall constitute part of
the Pledged Membership Interests, and the Administrative Agent is irrevocably
authorized to unilaterally amend Schedule I hereto or any Schedule I
to any applicable Pledge Supplement or Pledge Amendment from time to time to
reflect such additional interests), and all options, warrants, distributions,
investment property, cash, instruments and other rights and options from time
to time received, receivable or otherwise distributed in respect of or in
exchange for any or all of such interests, and the Pledgor shall promptly
thereafter deliver to the Administrative Agent a certificate duly executed by the
Pledgor describing such percentage interests, certificates, units, options or
warrants and certifying that the same have been duly pledged hereunder;

 

(c)                                  (i)                                     All of the
partnership interests of the Pledgor in and to the Pledged Subsidiaries listed
on Schedule I which are partnerships now or at any time or times
hereafter owned directly by the Pledgor (such partnership interests being
identified on Schedule I attached hereto to or on Schedule I to
any applicable Pledge Supplement or Pledge Amendment), the property (and
interests in property) that is owned by such Pledged Subsidiaries, all of the
Pledgor’s rights, if any, to participate in the management of such Pledged
Subsidiaries, all rights, 

 

19

 

privileges,
authority and powers of the Pledgor as owner or holder of its partnership
interests in such Pledged Subsidiaries, including, but not limited to, all
contract rights related thereto, all rights, privileges, authority and powers
relating to the economic interests of the Pledgor as owner or holder of its
partnership interests in such Pledged Subsidiaries, including, without
limitation, all contract rights related thereto, all options and warrants of
the Pledgor for the purchase of any partnership interests in such Pledged
Subsidiaries, all documents and certificates representing or evidencing the
Pledgor’s partnership interests in such Pledged Subsidiaries, all of the
Pledgor’s interest in and to the profits and losses of such Pledged
Subsidiaries and the Pledgor’s right as a partner of such Pledged Subsidiaries
to receive distributions of such Pledged Subsidiaries’ assets, upon complete or
partial liquidation or otherwise, all of the Pledgor’s right, title and
interest to receive payments of principal and interest on any loans and/or
other extensions of credit made by the Pledgor or its Affiliates to such
Pledged Subsidiaries, all distributions, cash, instruments, investment property
and other property from time to time received, receivable or otherwise distributed
in respect of, or in exchange for, the Pledgor’s partnership interests in such
Pledged Subsidiaries, and any other right, title, interest, privilege,
authority and power of the Pledgor in or relating to such Pledged Subsidiaries,
all whether now existing or hereafter arising, and whether arising under any
partnership agreements of such Pledged Subsidiaries (as the same may be
amended, modified or restated from time to time, the “Partnership Agreements”)
or otherwise, or at law or in equity and all books and records of the Pledgor
pertaining to any of the foregoing (all of the foregoing being referred to
collectively as the “Pledged Partnership Interests”);

 

(ii)                                  Any additional
partnership interests in the Pledged Subsidiaries described in Section 2(c)(i) above
from time to time acquired by the Pledgor in any manner (any such additional
interests shall constitute part of the Pledged Partnership Interests, and the
Administrative Agent is irrevocably authorized to unilaterally amend Schedule
I hereto or any Schedule I to any applicable Pledge Supplement or
Pledge Amendment from time to time to reflect such additional interests), and
all options, warrants, distributions, investment property, cash, instruments
and other rights and options from time to time received, receivable or
otherwise distributed in respect of or in exchange for any or all of such
interests, and the Pledgor shall promptly thereafter deliver to the
Administrative Agent a certificate duly executed by the Pledgor describing such
percentage interests, options or warrants and certifying that the same have
been duly pledged hereunder;

 

The property and interests
in property described in Section 4 below; and

 

All proceeds of the
collateral described in subsections (a) through (c) above.

 

Notwithstanding the foregoing, the Pledged Collateral pledged by the
Company or any Domestic Subsidiary with respect to any Pledged Subsidiary which
is an Affected Foreign Subsidiary shall not exceed 65% of the equity interests
of such Pledged Subsidiary.

 

Nothing in this Pledge Agreement shall oblige a Pledgor which is a
Swiss Subsidiary (a “Swiss Pledgor”) to make any payment in respect of
this Pledge Agreement for any other Loan Party which is not a Subsidiary of
such Swiss Pledgor unless such payments are limited to the amount of the freely
disposable shareholders equity of such Swiss Pledgor at the time of the
enforcement of the obligations and liabilities under this Pledge
Agreement.  The freely disposable
shareholder equity shall be determined in accordance with Swiss law and Swiss
accounting principles and shall correspond to such Swiss Pledgor’s total
shareholder equity less the total of (i) its aggregate share capital and (ii) its
statutory reserves (including reserves for own shares and revaluations as well
as agio) to the extent such reserves are not available for distribution at the
time of the enforcement of the obligations and liabilities of such Swiss
Pledgor under this Pledge Agreement for the obligations under the Loan
Documents of any other Loan Party which is

 

20

not a subsidiary of such
Swiss Pledgor, which amount shall be (a) determined on the basis of an
audited annual or interim balance sheet of each Swiss Pledgor, (b) approved
by the auditors of each Swiss Pledgor as distributable amount and (c) approved
by a shareholders’ resolution of each Swiss Pledgor in accordance with the
provisions of the Swiss Code of Obligations.

 

SECTION 3.           Security
for Obligations; Delivery of Pledged Collateral.  The Pledged Collateral secures the prompt
payment, performance and observance of the Obligations; provided that
the pledge by any Pledgor which is an Affected Foreign Subsidiary of Pledged
Collateral shall not secure any Obligations of the Company or any Subsidiary
Guarantor which is a Domestic Subsidiary. 
To the extent that any Pledged Collateral is now or hereafter becomes
evidenced by certificates or instruments, all such certificates and instruments
shall promptly be physically delivered to and held by or on behalf of the
Administrative Agent, acting for itself and for the Secured Parties pursuant
hereto, together with appropriate signed Powers and other endorsements in form
and substance acceptable to the Administrative Agent.

 

SECTION 4.           Pledged
Collateral Adjustments.  If, during
the term of this Pledge Agreement:

 

(a)   Any stock dividend,
reclassification, readjustment or other change is declared or made in the
capital structure of any of the Pledged Subsidiaries, or any option included
within the Pledged Collateral is exercised, or both, or

 

(b)   Any subscription warrants or
any other rights or options shall be issued in connection with the Pledged
Collateral,

 

then all new, substituted
and additional membership or partnership interests, certificates, shares,
warrants, rights, options, investment property or other securities, issued by
reason of any of the foregoing, shall, if applicable, be immediately delivered
to and held by the Administrative Agent under the terms of this Pledge
Agreement and shall constitute Pledged Collateral hereunder; provided, however,
that nothing contained in this Section 4 shall be deemed to permit
any distribution or stock dividend, issuance of additional membership or
partnership interests or stock, warrants, rights or options, reclassification,
readjustment or other change in the capital structure of any Pledged Subsidiary
which is not expressly permitted by the Loan Documents.

 

SECTION 5.           Subsequent
Changes Affecting Pledged Collateral. 
Each Pledgor represents and warrants that it has made its own
arrangements for keeping itself informed of changes or potential changes
affecting the Pledged Collateral (including, but not limited to, rights to
convert, rights to subscribe, payment of dividends, cash distributions or other
distributions, reorganizations or other exchanges, tender offers and voting
rights), and each Pledgor agrees that neither the Administrative Agent nor any
of the Secured Parties shall have any obligation to inform the Pledgors of any
such changes or potential changes or to take any action or omit to take any
action with respect thereto.  The
Administrative Agent may, after the occurrence and during the continuance of an
Event of Default, without notice and at its option, transfer or register the
Pledged Collateral or any part thereof into its or its nominee’s name with or
without any indication that such Pledged Collateral is subject to the security
interest hereunder.  In addition, the
Administrative Agent may, after the occurrence and during the continuance of an
Event of Default, exchange certificates or instruments representing or
evidencing Pledged Stock, Pledged Membership Interests or Pledged Partnership
Interests for certificates or instruments of smaller or larger denominations.

 

SECTION 6.           Representations
and Warranties.  Each Pledgor
represents and warrants as follows:

 

21

 

(a)   Each Pledgor is the sole
legal and beneficial owner of the percentage of the issued and outstanding
common stock, membership interests or partnership interests, as applicable, of
the Pledged Subsidiaries, set forth opposite the name of such Pledged
Subsidiary on Schedule I hereto, free and clear of any Lien except for
the security interest created by this Pledge Agreement;

 

(b)   As of the date hereof, all
of the Pledged Collateral is currently represented by certificates, and Schedule
I sets forth a complete and accurate list of all the Pledged Collateral,
all of which has been delivered to the Administrative Agent;

 

(c)   Each Pledgor (i) is
either a corporation, limited partnership or other type of legal entity as
described on Schedule II hereto, (ii) is duly organized and validly
existing solely under the laws of its jurisdiction of organization, as set
forth on Schedule II hereto, (iii) is in good standing (if
applicable) under the laws of its jurisdiction of organization, (iv) has
its place of business or chief executive office (if it has more than one place
of business) at the address set forth on Schedule II hereto, (v) has
full corporate, partnership or limited liability company power and authority to
enter into this Pledge Agreement and to perform each and all of its obligations
herein and (vi) has ensured that the grant of a first priority security
interest in the Pledged Collateral under this Pledge Agreement shall be
enforceable and recognized in the jurisdiction of organization of each
applicable Pledged Subsidiary;

 

(d)   The exact legal name of each
Pledgor as it appears in the Pledgors’ organizational documents, as amended, as
filed with the Pledgors’ jurisdiction of organization is set forth on Schedule
II hereto, and none of the Pledgors has conducted business during the last
five years under any name other than its exact legal name as set forth on Schedule
II, except for any prior names as described on Schedule II hereto;

 

(e)   No financing statement
naming any Pledgor as debtor and describing or purporting to cover all or any
portion of the Pledged Collateral, which has not lapsed or been terminated, has
been filed in any jurisdiction except for financing statements naming the
Administrative Agent on behalf of the Secured Parties as secured party;

 

(f)    There are no restrictions
upon the voting rights associated with, or upon the transfer of, any of the
Pledged Collateral;

 

(g)   Each Pledgor has the right
to vote, pledge and grant a security interest in or otherwise transfer such
Pledged Collateral free of any Liens, except for the pledge and security
interest granted to the Administrative Agent hereunder;

 

(h)   Each Pledgor owns the
Pledged Collateral free and clear of any pledge, mortgage, hypothecation, lien,
charge, encumbrance or any security interest therein, except for the pledge and
security interest granted to the Administrative Agent hereunder;

 

(i)    The pledge of the Pledged
Collateral does not violate (1) the articles or certificates of
incorporation, by-laws, operating agreements or partnership agreements, as
applicable, of the Pledged Subsidiaries, or any indenture, mortgage, loan or
credit agreement to which any Pledgor or any of the Pledged Subsidiaries is a
party or by which any of their respective properties or assets may be bound; or
(2) any restriction on such transfer or encumbrance of such Pledged
Collateral;

 

22

 

(j)    Each Pledgor agrees to
execute and deliver to each Pledged Subsidiary that is a limited liability
company or limited partnership a control acknowledgment (“Control
Acknowledgment”) substantially in the form of Exhibit D
hereto.  Each Pledgor shall cause such
Pledged Subsidiary to acknowledge in writing its receipt and acceptance
thereof.  Such Control Acknowledgment
shall instruct such Pledged Subsidiary to follow instructions from the
Administrative Agent without the Pledgors’ further consent;

 

(k)   Each Pledgor authorizes the
Administrative Agent to file financing statements pursuant to the UCC as the
Administrative Agent may reasonably deem necessary to perfect the security
interest granted hereby;

 

(l)    No authorization, approval,
or other action by, and no notice to or filing with, any governmental authority
or regulatory body is required either (i) for the pledge of the Pledged
Collateral pursuant to this Pledge Agreement or for the execution, delivery or
performance of this Pledge Agreement by the Pledgors (except for the filing of
financing statements contemplated pursuant to Section 6(k) hereof)
or (ii) for the exercise by the Administrative Agent of the voting or
other rights provided for in this Pledge Agreement or the remedies in respect
of the Pledged Collateral pursuant to this Pledge Agreement (except as may be
required in connection with such disposition by laws affecting the offering and
sale of securities generally);

 

(m)  Upon delivery of each of the
certificates representing the Pledged Collateral, or, as applicable, the filing
of financing statements pursuant to Section 6(k) hereof, or
upon execution of a control agreement, the pledge of the Pledged Collateral
pursuant to this Pledge Agreement will create a valid and perfected first
priority security interest in the Pledged Collateral, in favor of the Administrative
Agent for the benefit of the Administrative Agent and the Secured Parties,
securing the payment and performance of the Obligations;

 

(n)   No Pledgor has (i) registered
the Pledged Collateral in the name of any other Person, (ii) consented to
any agreement by any of the Pledged Subsidiaries in which any such Pledged
Subsidiary agrees to act on the instructions of any other Person, (iii) delivered
the Pledged Collateral to any other Person, or (iv) otherwise granted “control”
(as such term is used in Section 8-106 of the UCC) of the Pledged
Collateral to any other Person;

 

(o)   The Powers are duly executed
and give the Administrative Agent the authority they purport to confer; and

 

(p)   No Pledgor has any
obligation to make further capital contributions or make any other payments to
the Pledged Subsidiaries with respect to its interest therein.

 

SECTION 7.           Covenants.

 

(a)   Except to the extent
expressly permitted by the terms of the Loan Documents, each Pledgor agrees
that it will (i) not change its name or its current legal structure, and
will not, in one transaction or a series of related transactions, merge into or
consolidate with any other entity, or sell all or substantially all of its
assets, (ii) maintain its due organization and good standing in its
jurisdiction of organization, (iii) not change its jurisdiction of
organization, and (iv) not change its mailing address, place of business
or chief executive office (if it has more than one place of business), unless
such Pledgor shall have given the Administrative Agent not less than 30 day’s
prior written notice of such event or occurrence and the Administrative Agent
shall have either (x) determined that such event or occurrence will not
adversely affect the validity, perfection or priority of the Administrative
Agent’s security interest in the Pledged Collateral, or (y) taken such 

 

23

 

steps (with the cooperation of the Pledgors to the extent necessary or
advisable) as are necessary or advisable to properly maintain the validity,
perfection and priority of the Administrative Agent’s security interest in such
Pledged Collateral; provided that the foregoing shall not prohibit
Bruker BioSpin Invest AG from being renamed Bruker BioSpin AG nor from relocating
its statutory domicile from Zug to Fällanden.

 

(b)   No Pledgor will (i) register
the Pledged Collateral in the name of any Person other than the Administrative
Agent representing the Secured Parties, (ii) consent to any agreement
between any Pledged Subsidiary and any Person other than the Administrative
Agent in which Pledged Subsidiary agrees to act on the instructions of any such
Person, (iii) deliver the Pledged Collateral or any related Power or
endorsement to any Person other than the Administrative Agent or (iv) otherwise
grant “control” (as such term is used in Section 8-106 of the UCC) of the
Pledged Collateral to any Person other than the Administrative Agent, provided,
however, that each Pledgor shall, at the reasonable request and
direction of the Administrative Agent at any time, promptly take any or all of
such actions as set forth in clause (i) — (iv) above for the benefit
of, and in a manner reasonably acceptable to, the Administrative Agent;

 

(c)   Without limiting the
provisions of clause (b), each Pledgor will, at its expense, promptly
execute, authorize, acknowledge and deliver all such instruments, certificates
or other documents, and take all such additional actions as the Administrative
Agent from time to time may reasonably request in order to ensure to the
Administrative Agent the benefits of the first priority security interest in
and to the Pledged Collateral intended to be created by this Pledge Agreement,
including, without limitation, (i) the authorization and filing of any
necessary UCC financing statements, (ii) the delivery to the
Administrative Agent of any certificates that may from time to time evidence
the Pledged Collateral, (iii) the execution in blank and delivery of any
necessary Powers or other endorsements, and (iv) taking such action as
required in the jurisdiction of organization of the applicable Pledged
Subsidiary in order to ensure the enforceability and recognition of such first
priority security interest in such jurisdiction of organization, and will
cooperate with the Administrative Agent, at such Pledgor’s expense, in
obtaining all necessary approvals and consents, and making all necessary
filings under federal, state, local or foreign law in connection with such
security interests or any sale or transfer of the Pledged Collateral;

 

(d)   Each Pledgor has and will
defend the title to the Pledged Collateral and the security interests of the
Administrative Agent in the Pledged Collateral against the claim of any Person
and will maintain and preserve such security interests;

 

(e)   Each Pledgor will, upon
obtaining ownership of any additional Pledged Collateral promptly and in any
event within five (5) Business Days deliver to the Administrative Agent a
Pledge Amendment, duly executed by such Pledgor, in substantially the form of Exhibit B
hereto (a “Pledge Amendment”) in respect of any such additional Pledged
Collateral, pursuant to which the Pledgor shall confirm its grant of a security
interest in such additional Pledged Collateral pursuant to Section 1
hereof to the Administrative Agent, such grant being deemed effective as of the
date hereof, regardless of whether such Pledge Amendment is ever executed
pursuant to this paragraph.  Each Pledgor
hereby authorizes the Administrative Agent to attach each Pledge Amendment to
this Pledge Agreement and to unilaterally amend Schedule I hereto
pursuant to the terms of Section 2 hereof, and agrees that all
Pledged Collateral listed on any Pledge Amendment delivered to the
Administrative Agent, or amended Schedule I, shall for all purposes
hereunder be considered Pledged Collateral (it being understood and agreed that
the failure by any Pledgor or the Administrative Agent to prepare or execute
any such Pledge Amendment shall not prevent the creation or attachment of the
Administrative Agent’s lien and security interest in any such shares 

 

24

 

which creation and attachment shall automatically, and be deemed to,
occur pursuant to Section 1 hereof);

 

(f)    Each Pledgor hereby
irrevocably authorizes the Administrative Agent at any time and from time to
time to file in any filing office in any UCC jurisdiction any financing
statements or amendments thereto that (a) describe the Pledged Collateral
and (b) contain any other information required by Article 9 of the
UCC for the sufficiency or filing office acceptance of any financing statement
or amendment.  Each Pledgor also ratifies
its authorization for the Administrative Agent to have filed any financing
statements or amendments thereto if filed prior to the date hereof;

 

(g)   Each Pledgor will (i) deliver
to the Administrative Agent immediately upon execution of this Pledge
Agreement, a Pledge Supplement or a Pledge Amendment, as applicable, the
originals of all certificates or other instruments constituting Pledged
Collateral and (ii) hold in trust for the Administrative Agent upon
receipt and immediately thereafter deliver to the Administrative Agent any
certificates or other instruments constituting Pledged Collateral;

 

(h)   Each Pledgor will permit the
Administrative Agent from time to time to cause the appropriate issuers (and,
if held with a securities intermediary, such securities intermediary) of
uncertificated securities or other types of investment property not represented
by certificates which are Pledged Collateral to mark their books and records
with the numbers and face amounts of all such uncertificated securities or
other types of investment property not represented by certificates and all
rollovers and replacements therefor to reflect the pledge of such Pledged
Collateral granted pursuant to this Pledge Agreement.  Each Pledgor will take any actions necessary
to cause (i) the issuers of uncertificated securities which are Pledged
Collateral and (ii) any financial intermediary which is the holder of any
investment property, to cause the Administrative Agent to have and retain
control over such securities or other investment property.  Without limiting the foregoing, each Pledgor
will, with respect to investment property held with a financial intermediary,
cause such financial intermediary to enter into a control agreement with the
Administrative Agent in form and substance satisfactory to the Administrative
Agent;

 

(i)    Except as otherwise
permitted by the terms of the Loan Documents, each Pledgor will not (i) permit
or suffer any issuer of privately held corporate securities or other ownership
interests in a corporation, partnership, joint venture or limited liability
company constituting Pledged Collateral over which it has voting control to
dissolve, liquidate, retire any of its capital stock or other instruments or
securities evidencing ownership, reduce its capital or merge or consolidate
with any other entity, or (ii) vote any of the instruments, securities or
other investment property in favor of any of the foregoing;

 

(j)    Each Pledgor will permit
any registerable Pledged Collateral to be registered in the name of the
Administrative Agent or its nominee at any time after the occurrence and
continuance of an Event of Default; and

 

(k)   Each Pledgor agrees that it
will not (i) except as otherwise permitted by the Loan Documents, sell or
otherwise dispose of, or grant any option with respect to, any of the Pledged
Collateral without the prior written consent of the Administrative Agent, or (ii) create
or permit to exist any Lien upon or with respect to any of the Pledged
Collateral, except for the security interest under this Pledge Agreement.

 

SECTION 8.           Voting
Rights.  During the term of this
Pledge Agreement, and except as provided in this Section 8 below,
each Pledgor shall have (i) the right to vote the Pledged Stock, Pledged 

 

25

 

Membership
Interests or Pledged Partnership Interests on all governing questions in a
manner not inconsistent with the terms of this Pledge Agreement or any Loan
Documents and (ii) the right to be a member or a partner of all the
Pledged Subsidiaries which are limited liability companies or partnerships,
respectively.  After the occurrence and
during the continuance of an Event of Default, the Administrative Agent or the
Administrative Agent’s nominee may, at the Administrative Agent’s or such
nominee’s option and following written notice from the Administrative Agent to
the Pledgors, (i) exercise all voting powers pertaining to the Pledged
Collateral, including the right to take action by shareholder consent and (ii) become
a member or partner of each and all of the Pledged Subsidiaries which are
limited liability companies or partnerships, respectively, and as such (x) exercise,
or direct the applicable Pledgor as to the exercise of all voting, consent,
managerial, election and other membership rights to the applicable Pledged
Collateral and (y) exercise, or direct any Pledgor as to the exercise of
any and all rights of conversion, exchange, subscription or any other rights,
privileges or options pertaining to the applicable Pledged Collateral, as if
the Administrative Agent were the absolute owner thereof, all without liability
except to account for property actually received by it, but the Administrative
Agent shall have no duty to exercise any of the aforesaid rights, privileges or
options and shall not be responsible for any failure so to do or delay in so
doing.  Such authorization shall
constitute an irrevocable voting proxy from such Pledgor to the Administrative
Agent or, at the Administrative Agent’s option, to the Administrative Agent’s
nominee.  After an Event of Default is
cured or waived, such Pledgor will have the right to exercise the voting and rights,
powers, privileges and options that it would otherwise be entitled to exercise
pursuant to the terms of the Pledge Agreement prior to the occurrence of any
such Event of Default.

 

SECTION 9.           Dividends
and Other Distributions.  (a) So
long as no Event of Default has occurred and is continuing:

 

(i)             Each Pledgor shall
be entitled to receive and retain any and all dividends, cash distributions and
interest paid in respect of the Pledged Collateral to the extent such
distributions are not prohibited by the Loan Documents, provided, however,
that any and all (A) distributions, dividends and interest paid or payable
other than in cash with respect to, and instruments and other property
received, receivable or otherwise distributed with respect to, or in exchange
for, any of the Pledged Collateral, (B) dividends and other distributions
paid or payable in cash with respect to any of the Pledged Collateral on
account of a partial or total liquidation or dissolution or in connection with
a reduction of capital, capital surplus or paid-in surplus, and (C) cash
paid, payable or otherwise distributed with respect to principal of, or in
redemption of, or in exchange for, any of the Pledged Collateral, shall be
Pledged Collateral, and shall be forthwith delivered to the Administrative
Agent to hold, for the benefit of the Administrative Agent and the Secured
Parties, as Pledged Collateral and shall, if received by a Pledgor, be received
in trust for the Administrative Agent, for the benefit of the Administrative
Agent and the Secured Parties, be segregated from the other property or funds
of such Pledgor, and be delivered immediately to the Administrative Agent as
Pledged Collateral in the same form as so received (with any necessary
endorsement); and

 

(ii)           The Administrative Agent shall
execute and deliver (or cause to be executed and delivered) to each Pledgor all
such proxies and other instruments as such Pledgor may reasonably request for
the purpose of enabling such Pledgor to receive the dividends or interest payments
which it is authorized to receive and retain pursuant to clause (i) above.

 

(b)           After
the occurrence and during the continuance of an Event of Default:

 

26

 

hereof shall cease, and all such rights shall thereupon become vested
in the Administrative Agent, for the benefit of the Administrative Agent and
the Secured Parties, which shall thereupon have the sole right to receive and
hold as Pledged Collateral such dividends, distributions and interest payments;
and

 

(ii)           All dividends, distributions and
interest payments which are received by any Pledgor contrary to the provisions
of clause (i) of this Section 9(b) shall be
received in trust for the Administrative Agent, for the benefit of the
Administrative Agent and the Secured Parties, shall be segregated from other
funds of such Pledgor and shall be paid over immediately to the Administrative
Agent as Pledged Collateral in the same form as so received (with any necessary
endorsements).

 

The Pledgors will reimburse the Administrative Agent and/or the Secured
Parties for all expenses incurred by the Administrative Agent and/or the
Secured Parties, including, without limitation, reasonable attorneys’ and
accountants’ fees and expenses in connection with the foregoing.

 

SECTION 10.         Remedies.  (a)  The Administrative Agent shall
have, in addition to any other rights given under this Pledge Agreement or by
law, all of the rights and remedies with respect to the Pledged Collateral of a
secured party under the UCC.  After the
occurrence and during the continuance of an Event of Default, the
Administrative Agent (personally or through an agent) is hereby authorized and
empowered to transfer and register in its name or in the name of its nominee
the whole or any part of the Pledged Collateral, to exercise all voting rights
with respect thereto, to collect and receive all cash dividends or
distributions and other distributions made thereon, and to otherwise act with
respect to the Pledged Collateral as though the Administrative Agent were the
outright owner thereof (in the case of a limited liability company, the sole
member and manager thereof and, in the case of a partnership, a partner
thereof), each Pledgor hereby irrevocably constituting and appointing the
Administrative Agent as the proxy and attorney-in-fact of such Pledgor, with
full power of substitution to do so; provided, however, that the
Administrative Agent shall have no duty to exercise any such right or to preserve
the same and shall not be liable for any failure to do so or for any delay in
doing so; provided, further, however, that the
Administrative Agent agrees to exercise such proxy and powers only so long as
an Event of Default shall have occurred and is continuing and following written
notice thereof.  In addition, after the
occurrence and during the continuance of an Event of Default, the
Administrative Agent shall have such powers of sale and other powers as may be conferred
by applicable law and regulatory requirements. 
With respect to the Pledged Collateral or any part thereof which shall
then be in or shall thereafter come into the possession or custody of the
Administrative Agent or which the Administrative Agent shall otherwise have the
ability to transfer under applicable law, the Administrative Agent may, in its
sole discretion, without notice except as specified below, after the occurrence
and during the continuance of an Event of Default, sell or cause the same to be
sold at any exchange, broker’s board or at public or private sale ((Selbstverkaufsrecht) in the case of a sale conducted in
Switzerland, without regard to the procedures and formalities of the Swiss Debt
Enforcement and Bankruptcy Act or any other applicable debt collection or
bankruptcy or similar laws in Switzerland), in one or more sales or lots, at
such price as the Administrative Agent may deem best, for cash or on credit or
for future delivery, without assumption of any credit risk, and the purchaser
of any or all of the Pledged Collateral so sold shall thereafter own the same,
absolutely free from any claim, encumbrance or right of any kind
whatsoever.  The Administrative Agent and
each of the Secured Parties may, in its own name, or in the name of a designee
or nominee, buy the Pledged Collateral at any public sale and, if permitted by
applicable law, buy the Pledged Collateral at any private sale (Selbsteintritt).  The
Pledgors jointly and severally agree to pay to the Administrative Agent all
reasonable expenses (including, without limitation, court costs and reasonable
attorneys’ and paralegals’ fees and expenses) of, or incidental to, the
enforcement of any of the provisions hereof. 
The Administrative Agent agrees to distribute any proceeds 

 

27

 

of the sale of the Pledged Collateral in accordance with Section 10(d) and
the Pledgor shall remain liable for any deficiency following the sale of the
Pledged Collateral.

 

(b)           Unless
any of the Pledged Collateral threatens to decline speedily in value or is or
becomes of a type sold on a recognized market, the Administrative Agent will
give the applicable Pledgor reasonable notice of the time and place of any
public sale thereof, or of the time after which any private sale or other intended
disposition is to be made.  Any sale of
the Pledged Collateral conducted in conformity with reasonable commercial
practices of Lenders, commercial finance companies, insurance companies or
other financial institutions disposing of property similar to the Pledged
Collateral shall be deemed to be commercially reasonable.  Notwithstanding any provision to the contrary
contained herein, each Pledgor agrees that any requirements of reasonable
notice shall be met if such notice is received by such Pledgor as provided in Section 21
below at least ten (10) days before the time of the sale or disposition; provided,
however, that the Administrative Agent may give any shorter notice that
is commercially reasonable under the circumstances.  Any other requirement of notice, demand or
advertisement for sale is waived, to the extent permitted by law.

 

(c)           In view of the fact that federal and
state securities laws may impose certain restrictions on the method by which a
sale of the Pledged Collateral may be effected after an Event of Default, each
Pledgor agrees that after the occurrence and during the continuation of an
Event of Default, the Administrative Agent may, from time to time, attempt to
sell all or any part of the Pledged Collateral by means of a private placement
restricting the bidders and prospective purchasers to those who are qualified
and will represent and agree that they are purchasing for investment only and
not for distribution.  In so doing, the
Administrative Agent may solicit offers to buy the Pledged Collateral, or any
part of it, from a limited number of investors deemed by the Administrative
Agent, in its reasonable judgment, to be financially responsible parties who
might be interested in purchasing the Pledged Collateral.  If the Administrative Agent solicits such
offers from not less than four (4) such investors, then the acceptance by
the Administrative Agent of the highest offer obtained therefrom shall be
deemed to be a commercially reasonable method of disposing of such Pledged
Collateral; provided, however, that this Section does not
impose a requirement that the Administrative Agent solicit offers from four or
more investors in order for the sale to be commercially reasonable.

 

(d)           All proceeds of the sale of the
Pledged Collateral received by the Administrative Agent hereunder shall be
applied by the Administrative Agent to payment of the Obligations pursuant to
the terms of the Credit Agreement.

 

SECTION 11.         Administrative
Agent Appointed Attorney-in-Fact. 
Each Pledgor hereby appoints the Administrative Agent its
attorney-in-fact, coupled with an interest, with full authority, in the name of
such Pledgor or otherwise, from time to time in the Administrative Agent’s sole
discretion, to take any action and to execute any instrument which the
Administrative Agent may deem necessary or advisable to accomplish the purposes
of this Pledge Agreement, including, without limitation, to receive, endorse
and collect all instruments made payable to such Pledgor representing any
dividend, distribution, interest payment or other distribution in respect of
the Pledged Collateral or any part thereof and to give full discharge for the
same and to arrange for the transfer of all or any part of the Pledged
Collateral on the books of the Pledged Subsidiaries to the name of the
Administrative Agent or the Administrative Agent’s nominee.  If Swiss law should apply to the pledge
created hereunder, the Administrative Agent acts for itself and for and on
behalf of the Secured Parties as direct representative (direkter
Stellvertreter).

 

SECTION 12.         Waivers.  (i) Each Pledgor waives presentment and
demand for payment of any of the Obligations, protest and notice of dishonor or
default with respect to any of the Obligations and all other notices to which
such Pledgor might otherwise be entitled except as otherwise expressly provided
herein or in the applicable Loan Document.

 

28

 

(ii)           Each
Pledgor understands and agrees that its obligations and liabilities under this
Pledge Agreement shall remain in full force and effect, notwithstanding
foreclosure of any property securing all or any part of the Obligations by
trustee sale or any other reason impairing the right of any Pledgor, the
Administrative Agent or any of the Secured Parties to proceed against any
Pledged Subsidiary, any other guarantor or any Pledged Subsidiary or such
guarantor’s property.  Each Pledgor
agrees that all of its obligations under this Pledge Agreement shall remain in
full force and effect without defense, offset or counterclaim of any kind,
notwithstanding that such Pledgor’s rights against any Pledged Subsidiary may
be impaired, destroyed or otherwise affected by reason of any action or
inaction on the part of the Administrative Agent or any Secured Party.

 

(iii)          Each
Pledgor hereby expressly waives the benefits of any law in any jurisdiction
purporting to allow a guarantor or pledgor to revoke a continuing guaranty or
pledge with respect to any transactions occurring after the date of the
guaranty or pledge.

 

SECTION 13.         Term.  This Pledge Agreement shall remain in full
force and effect until the Obligations (other than contingent indemnity
obligations) shall have been indefeasibly and fully paid in cash and any
commitments to extend credit under the Loan Documents shall have
terminated.  Upon the termination of this
Pledge Agreement as provided above (other than as a result of the sale of the
Pledged Collateral), the Administrative Agent will release the security
interest created hereunder and, if it then has possession of the Pledged Stock,
will deliver the Pledged Stock and the Powers to the applicable Pledgor.

 

SECTION 14.         Successors
and Assigns.  This Pledge Agreement
shall be binding upon and inure to the benefit of each Pledgor, the
Administrative Agent, for the benefit of itself and the Secured Parties, and
their respective successors and assigns. 
Each Pledgor’s successors and assigns shall include, without limitation,
a receiver, trustee or debtor-in-possession of or for such Pledgor.

 

SECTION 15.         GOVERNING LAW.  THIS PLEDGE AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

 

SECTION 16.         Consent
to Jurisdiction; Waiver of Jury Trial.

 

(A)          Each
Pledgor hereby irrevocably and unconditionally submits, for itself and its
property, to the nonexclusive jurisdiction of the Supreme Court of the State of
New York sitting in New York County and of the United States District Court of
the Southern District of New York, and any appellate court from any thereof, in
any action or proceeding arising out of or relating to this Pledge Agreement,
or for recognition or enforcement of any judgment, and each Pledgor hereby
irrevocably and unconditionally agrees that all claims in respect of any such
action or proceeding may be heard and determined in such New York State or, to
the extent permitted by law, in such Federal court.  Each Pledgor 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 Pledge Agreement
shall affect any right that the Administrative Agent may otherwise have to
bring any action or proceeding relating to this Pledge Agreement against any
Pledgor or its properties in the courts of any jurisdiction.

 

(B)           Each
Pledgor hereby irrevocably and unconditionally waives, to the fullest extent it
may legally and effectively do so, any objection which it may now or hereafter
have to the laying of venue of any suit, action or proceeding arising out of or
relating to this Pledge Agreement in any court referred to in paragraph (a) of
this Section.  Each Pledgor hereby
irrevocably waives, to the fullest extent 

 

29

 

permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.

 

(C)           Each
party to this Pledge Agreement irrevocably consents to service of process in
the manner provided for notices in Section 21 of this Pledge
Agreement, and each of the Pledgors hereby appoints the Company as its agent
for service of process.  Nothing in this
Pledge Agreement will affect the right of any party to this Pledge Agreement to
serve process in any other manner permitted by law.

 

(D)          Each
Pledgor hereby waives, to the fullest extent permitted by applicable law, any
right it may have to a trial by jury in any legal proceeding directly or
indirectly arising out of this Pledge Agreement (whether based on contract,
tort or any other theory).  Each Pledgor (i) certifies
that no representative, agent or attorney of any other Pledgor has represented,
expressly or otherwise, that such other Pledgor would not, in the event of
litigation, seek to enforce the foregoing waiver and (ii) acknowledges
that it and the other pledgors have been induced to enter into this Pledge
Agreement by, among other things, the mutual waivers and certifications in this
Section.

 

SECTION 17.         No
Strict Construction.  The parties
hereto have participated jointly in the negotiation and drafting of this Pledge
Agreement.  In the event an ambiguity or
question of intent or interpretation arises, this Pledge Agreement shall be
construed as if drafted jointly by the parties hereto and no presumption or
burden of proof shall arise favoring or disfavoring any party by virtue of the
authorship of any provisions of this Pledge Agreement.

 

SECTION 18.         Severability.  Whenever possible, each provision of this
Pledge Agreement shall be interpreted in such manner as to be effective and
valid under applicable law, but, if any provision of this Pledge Agreement
shall be held to be prohibited or invalid under applicable law, such provision
shall be ineffective only to the extent of such prohibition or invalidity,
without invalidating the remainder of such provision or the remaining
provisions of this Pledge Agreement.

 

SECTION 19.         Further
Assurances.  Each Pledgor agrees that
it will cooperate with the Administrative Agent and will execute and deliver,
or cause to be executed and delivered, all such other stock powers, proxies,
instruments and documents, and will take all such other actions, including,
without limitation, the execution and filing of financing statements (and each
Pledgor hereby authorizes the Administrative Agent to file any such financing
statements), as the Administrative Agent may reasonably deem necessary from
time to time in order to carry out the provisions and purposes of this Pledge
Agreement.

 

SECTION 20.         The
Administrative Agent’s Duty of Care. 
The Administrative Agent shall not be liable for any acts, omissions,
errors of judgment or mistakes of fact or law including, without limitation,
acts, omissions, errors or mistakes with respect to the Pledged Collateral,
except for those arising out of or in connection with the Administrative Agent’s
(i) gross negligence or willful misconduct, or (ii) failure to use
reasonable care with respect to the safe custody of the Pledged Collateral in
the Administrative Agent’s possession. 
Without limiting the generality of the foregoing, the Administrative
Agent shall be under no obligation to take any steps necessary to preserve
rights in the Pledged Collateral against any other parties but may do so at its
option.  All expenses incurred in
connection therewith shall be for the sole account of the Pledgors, and shall
constitute part of the Obligations secured hereby.

 

SECTION 21.         Notices.  All notices and other communications provided
for hereunder shall be delivered in the manner set forth in Section 9.01
of the Credit Agreement.

 

SECTION 22.         Amendments,
Waivers and Consents.  No amendment
or waiver of any provision of this Pledge Agreement nor consent to any
departure by the Pledgor herefrom, shall in any 

 

30

 

event be effective unless the same shall be in writing and signed by
the Administrative Agent, and then such amendment, waiver or consent shall be
effective only in the specific instance and for the specific purpose for which
given.

 

SECTION 23.         Section Headings.  The section headings herein are for
convenience of reference only, and shall not affect in any way the
interpretation of any of the provisions hereof.

 

SECTION 24.         Execution
in Counterparts.  This Pledge
Agreement may be executed in any number of counterparts, each of which shall be
an original, but all of which shall together constitute one and the same
agreement.  Facsimile transmission of the
signature of any party hereto shall be effective as an original signature.

 

SECTION 25.         Merger.  This Pledge Agreement and the other Loan
Documents embody the final and entire agreement and understanding among the
Pledgors, the Administrative Agent and the Secured Parties and supersede all
prior agreements and understandings among the Pledgors, the Administrative
Agent and the Secured Parties relating to the subject matter thereof.  This Pledge Agreement and the Loan Documents
may not be contradicted by evidence of prior, contemporaneous or subsequent
oral agreements of the parties.  There
are no unwritten oral agreements between the parties hereto.

 

SECTION 26.         Additional
Pledgors.  Pursuant to the Credit
Agreement, the Company may be required to, and/or to cause certain Subsidiaries
to, execute and deliver to the Administrative Agent (i) in the case of a
Subsidiary that is not a Pledgor at such time, a Pledge Supplement in the form
of Exhibit A hereto and (ii) in the case of the Company or a
Subsidiary that is a Pledgor at such time, a Pledge Amendment in the form of Exhibit B
hereto, together with such supporting documentation required pursuant to the
Credit Agreement as the Administrative Agent may reasonably request, in order
to create a perfected, first priority security interest in the equity interests
in certain Subsidiaries.  The execution
and delivery of such instrument shall not require the consent of any Pledgor
hereunder.  The rights and obligations of
each Pledgor hereunder shall remain in full force and effect notwithstanding
the addition of any new Pledgor as a party to this Pledge Agreement.

 

The remainder of this page is intentionally blank.

 

 

 

 

 

 

 

31

 

IN WITNESS WHEREOF, the
Pledgors and the Administrative Agent have executed this Pledge Agreement as of
the date set forth above.

 

	
   

  	
  BRUKER BIOSCIENCES CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  [OTHER PLEDGORS TO COME]

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE BANK, N.A.,

  
	
   

  	
  as Administrative Agent

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

 

 

 

Signature Page to 

Pledge Agreement

 

 

SCHEDULE I

to

PLEDGE AGREEMENT

 

PLEDGED SUBSIDIARIES

 

Pledged Capital Stock

 

	
  Pledgor

  	
   

  	
  Record Holder

  	
   

  	
  Pledged Subsidiary

  	
   

  	
  Cert. No.

  	
   

  	
  No. of

  Shares

  	
   

  	
  % of Interests held by Pledgor

  	
   

  	
  % of Total Outstanding Interests

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

Pledged Membership Interests

 

	
   

  	
   

  	
   

  	
   

  	
  Percentage of Membership

  
	
  Pledgor

  	
   

  	
  Pledged Subsidiary

  	
   

  	
  Interest owned by the Pledgor

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

Pledged Partnership Interests

 

	
   

  	
   

  	
   

  	
   

  	
  Percentage of Partnership Interest

  
	
  Pledgor

  	
   

  	
  Pledged Subsidiary

  	
   

  	
  owned by the Pledgor

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

SCHEDULE II

to

PLEDGE AGREEMENT

 

TYPES OF ENTITY, JURISDICTION OF

ORGANIZATION, CHIEF EXECUTIVE OFFICE LOCATION

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Mailing Address of Chief

  
	
  Pledgor

  	
   

  	
  Type of Entity

  	
   

  	
  Jurisdiction of Organization

  	
   

  	
  Executive Office

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

PRIOR NAMES OF PLEDGORS

DURING LAST FIVE YEARS

 

	
  Pledgor

  	
   

  	
  Prior Name

  	
   

  	
  Date of Name Change

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

EXHIBIT A

to

PLEDGE AGREEMENT

 

FORM OF PLEDGE SUPPLEMENT

 

SUPPLEMENT NO.
       dated as of
                      
        , 20      
to the PLEDGE AGREEMENT dated as of February 26, 2008 (as the same may be
amended, restated, supplemented or otherwise modified from time to time, the “Pledge
Agreement”), among Bruker BioSciences Corporation, a Delaware corporation
(the “Company”), and certain subsidiaries of the Company from time to
time signatories thereto (the Company and each of the Subsidiaries being
referred to herein individually, as a “Pledgor”, and collectively, as
the “Pledgors”)  and JPMORGAN
CHASE BANK, N.A., as contractual representative for the Secured Parties (in
such capacity, the “Administrative Agent”).

 

Reference is made to the
Credit Agreement dated as of February 26, 2008 (as amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”),  among the Company, certain Subsidiaries of the Company from
time to time party thereto as borrowers (together with the Company, the “Borrowers”),
the financial institutions from time to time party thereto as lenders
(collectively, the “Lenders”) and the Administrative Agent.

 

Capitalized terms used but
not defined herein shall have the respective meanings given to such terms in
the Pledge Agreement, the Credit Agreement.

 

The undersigned Subsidiary
of the Company (the “New Pledgor”) is executing
this Supplement in accordance with the requirements of the Credit Agreement to
become a Pledgor under the Pledge Agreement in consideration for Loans and
Letters of Credit previously made to, or issued for the account of, the
Borrowers.

 

Accordingly, Administrative
Agent and the New Pledgor agree as follows:

 

SECTION 1.           In
accordance with Section 26 of the Pledge Agreement, the New Pledgor
by its signature below becomes a Pledgor under the Pledge Agreement with the
same force and effect as if originally named therein as a Pledgor and the New
Pledgor hereby agrees (a) to all the terms and provisions of the Pledge
Agreement applicable to it as a Pledgor thereunder and (b) represents and
warrants that the representations and warranties made by it as a Pledgor
thereunder are true and correct on and as of the date hereof except for
representations and warranties which by their express terms refer to a specific
date.  In furtherance of the foregoing,
the New Pledgor, as security for the payment and performance in full of the
Obligations, does hereby create and grant to Administrative Agent, its
successors and assigns, a security interest in and Lien on all of the New
Pledgor’s right, title and interest in and to the Pledged Collateral (as
defined in the Pledge Agreement) of the New Pledgor.  Each reference to a “Pledgor” or the “Pledgors”
in the Pledge Agreement shall be deemed to include the New Pledgor.  The Pledge Agreement is hereby incorporated
herein by reference.

 

SECTION 2.           The
New Pledgor represents and warrants to Administrative Agent that this Supplement
has been duly authorized, executed and delivered by it and constitutes its
legal, valid and binding obligation, enforceable against it in accordance with
its terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium or other laws affecting Secured Parties’ rights generally.

 

SECTION 3.           This
Supplement may be executed in counterparts, each of which shall constitute an
original, but all of which when taken together shall constitute a single
contract.  This 

 

 

 

Supplement shall become effective when
Administrative Agent shall have received counterparts of this Supplement that,
when taken together, bear the signatures of the New Pledgor and Administrative
Agent.  Delivery of an executed signature
page to this Supplement by facsimile transmission shall be as effective as
delivery of a manually signed counterpart of this Supplement.

 

SECTION 4.           The
New Pledgor hereby represents and warrants that set forth on Schedule I
attached hereto is a true and correct schedule with respect to all its Pledged
Collateral.

 

SECTION 5.           Except
as expressly supplemented hereby, the Pledge Agreement shall remain in full
force and effect.

 

SECTION 6.           If
for any reason any provision or provisions hereof are determined to be invalid
and contrary to any existing or future law, such invalidity shall not impair
the operation of or effect those portions of this Supplement which are valid.

 

SECTION 7.           All
communications and notices hereunder shall be in writing and given as provided
in the Pledge Agreement.  All
communications and notices hereunder to the New Pledgor shall be given to it at
the address set forth under its signature below.

 

SECTION 8.           The
New Pledgor agrees to reimburse Administrative Agent for its reasonable
out-of-pocket expenses in connection with this Supplement, including the
reasonable fees, other charges and disbursements of counsel for Administrative
Agent.

 

 

IN WITNESS WHEREOF, the New
Pledgor and Administrative Agent have duly executed this Supplement to the
Pledge Agreement as of the day and year first above written.

 

	
   

  	
  [NEW PLEDGOR]

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
  Address:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Attention:

  	
   

  
	
   

  	
  Telecopier: (      )
        -

  
	
   

  	
   

  
	
   

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

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
				

 

 

 

Schedule I to

Supplement No.     

to the Pledge Agreement

 

Pledged Capital Stock

 

	
  Pledgor

  	
   

  	
  Record Holder

  	
   

  	
  Pledged Subsidiary

  	
   

  	
  Certificate Number

  	
   

  	
  Number of Shares

  	
   

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

Pledged Membership Interests

 

	
  Pledgor

  	
   

  	
  Pledged Subsidiary

  	
   

  	
  Percentage of Membership

  Interest owned by the Pledgor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

Pledged Partnership Interests

 

	
  Pledgor

  	
   

  	
  Pledged Subsidiary

  	
   

  	
  Percentage
  of Partnership Interest

  owned by the Pledgor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

EXHIBIT B

to

PLEDGE AGREEMENT

 

FORM OF PLEDGE AMENDMENT

 

Reference is hereby made to
the Pledge Agreement (as the same may be amended, restated, supplemented or
otherwise modified from time to time, the “Pledge Agreement”) dated as
of February 26, 2008, by and between Bruker BioSciences Corporation, a
Delaware corporation [(the “Pledgor”)], and certain of its Subsidiaries
[including the undersigned (the “Pledgor”)] and JPMorgan Chase Bank,
N.A., as contractual representative for the Secured Parties (in such capacity,
the “Administrative Agent”), whereby the Pledgor has pledged certain
capital stock, membership interests and partnership interests, as applicable,
of certain of its Subsidiaries as collateral to the Administrative Agent, for
the ratable benefit of the Secured Parties, as more fully described in the
Pledge Agreement. This Amendment is a “Pledge Amendment” as defined in the
Pledge Agreement and is, together with the acknowledgments, certificates, and
Powers delivered herewith, subject in all respects to the terms and provisions
of the Pledge Agreement. Capitalized terms used herein and not defined herein
shall have the meanings given to them in the Pledge Agreement.

 

By its execution below, the
Pledgor hereby agrees that (i) the [capital stock of the corporation(s)]
[membership interests of the limited liability company(s)] [partnership
interests of the partnership(s)] listed on Schedule I hereto shall be
pledged to the Administrative Agent as additional collateral pursuant to Section 1[(a)(b)(c)](ii) of
the Pledge Agreement, (ii)  such property shall be considered [Pledged
Stock] [Pledged Membership Interests] [Pledged Partnership Interests] under the
Pledge Agreement and be a part of the Pledged Collateral pursuant to Section 1
of the Pledge Agreement, and (iii) each such [corporation] [limited
liability company] [partnership] listed on Schedule I hereto shall be
considered a Pledged Subsidiary for purposes of the Pledge Agreement.

 

By its execution below, the
Pledgor represents and warrants that it has full power and authority to execute
this Pledge Amendment and that the representations and warranties contained in Section 6
of the Pledge Agreement are true and correct in all respects as of the date
hereof and after taking into account the pledge of the additional [Pledged
Stock] [Pledged Membership Interests] [Pledged Partnership Interests] relating
hereto.  The Pledge Agreement, as amended
and modified hereby, remains in full force and effect and is hereby ratified
and confirmed.

 

 

 

IN WITNESS WHEREOF, the
Pledgor has executed and delivered this Pledge Amendment to the Pledge
Agreement as of this          day of
                        ,
            .

 

	
   

  	
  [PLEDGOR]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

 

 

Schedule I

to

Pledge Agreement

 

Pledged Capital Stock

 

	
  Pledgor

  	
   

  	
  Record Holder

  	
   

  	
  Pledged Subsidiary

  	
   

  	
  Certificate Number

  	
   

  	
  Number of Shares

  	
   

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

Pledged Membership Interests

 

	
  Pledgor

  	
   

  	
  Pledged Subsidiary

  	
   

  	
  Percentage of Membership

  Interest owned by the Pledgor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

Pledged Partnership Interests

 

	
  Pledgor

  	
   

  	
  Pledged Subsidiary

  	
   

  	
  Percentage
  of Partnership Interest

  owned by the Pledgor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

 

EXHIBIT C

to

PLEDGE AGREEMENT

 

FORM OF STOCK POWER

 

FOR VALUE RECEIVED, the undersigned
does hereby sell, assign and transfer to
                                                          
              
Shares of Common Stock of
                                              ,
a
                              
corporation, represented by Certificate No.         
(the “Stock”), standing in the name of the undersigned on the books of
said corporation and does hereby irrevocably constitute and appoint
                                                                      
as the undersigned’s true and lawful attorney, for it and in its name and
stead, to sell, assign and transfer all or any of the Stock, and for that
purpose to make and execute all necessary acts of assignment and transfer
thereof; and to substitute one or more persons with like full power, hereby
ratifying and confirming all that said attorney or substitute or substitutes
shall lawfully do by virtue hereof.

 

	
  Dated:
                     

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [PLEDGOR]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

 

 

EXHIBIT D

 

to

 

PLEDGE AGREEMENT

 

 

Form of Control
Acknowledgment

 

CONTROL ACKNOWLEDGMENT

 

	
  PLEDGED SUBSIDIARY:

  	
   

  	
  [MEMBERSHIP][PARTNERSHIP]     INTEREST OWNER:

  
	
   

  	
   

  	
   

  
	
  [Name of Pledged Subsidiary]

  	
   

  	
  [Name of Pledgor]

  

 

Reference is hereby made to
that certain Pledge Agreement dated as of February 26, 2008 (as the same
may be amended, restated, supplemented or otherwise modified from time to time,
the “Pledge Agreement”) between Bruker BioSciences Corporation, a
Delaware corporation, and certain of its Subsidiaries (collectively, the “Pledgor”),
a [member][partner] of [Name of Pledged Subsidiary], a
[                    ]
limited [liability company][partnership] (a “Pledged Subsidiary”) and JPMorgan
Chase Bank, N.A., as contractual representative for the Secured Parties (in
such capacity, the “Administrative Agent”). Capitalized terms used
herein and not defined herein shall have the meanings ascribed thereto in the
Pledge Agreement.

 

Pledged Subsidiary is hereby
instructed by the Pledgor that all of the Pledgor’s right, title and interest
in and to all of the Pledgor’s rights in connection with any
[membership][partnership] interests in Pledged Subsidiary now and hereafter
owned by the Pledgor are subject to a pledge and security interest in favor of
Administrative Agent.  Pledgor hereby
instructs the Pledged Subsidiary to act upon any instruction delivered to it by
the Administrative Agent with respect to the Pledged Collateral without seeking
further instruction from the Pledgor, and, by its execution hereof, the Pledged
Subsidiary agrees to do so.

 

Pledged Subsidiary, by its
written acknowledgement and acceptance hereof, hereby acknowledges receipt of a
copy of the aforementioned Pledge Agreement and agrees promptly to note on its
books the security interest granted under such Pledge Agreement.  Each Pledged Subsidiary also waives any
rights or requirements at any time hereafter to receive a copy of such Pledge
Agreement in connection with the registration of any Pledged Collateral in the
name of the Administrative Agent or its nominee or the exercise of voting
rights by the Administrative Agent or its nominee.

 

The
remainder of this page is intentionally blank.

 

 

IN WITNESS WHEREOF, the
Pledgor has caused this Control Acknowledgment to be duly signed and delivered
by its officer duly authorized as of this       
day of
                    ,
20      .

 

	
   

  	
  [PLEDGOR]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
  Acknowledged and accepted this

  	
   

  
	
           day of
                          ,
  20

  	
   

  
	
   

  	
   

  
	
  [PLEDGED SUBSIDIARY]

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  
	
  Title:

  	
   

  
				

 

 

EXHIBIT I

 

FORM OF COMPLIANCE CERTIFICATE

 

BRUKER BIOSCIENCES CORPORATION

 

COMPLIANCE CERTIFICATE

 

I, the undersigned, [Name of Officer], [Title of
Officer] of BRUKER BIOSCIENCES CORPORATION (the “Company”), a Delaware
corporation, do hereby certify, solely in my capacity as an officer of the
Company and not in my individual capacity, on behalf of the Company, that:

 

1.             This Certificate is furnished pursuant to the Credit
Agreement, dated as of February 26, 2008, among Bruker BioSciences Corporation,
the Foreign Subsidiary Borrowers party thereto, the Lenders and agents party
thereto, and JPMorgan Chase Bank, N.A. as Administrative Agent (as the same may
be amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”).  Unless otherwise
defined herein, capitalized terms used in this Certificate shall have the
meanings set forth in the Credit Agreement.

 

2.             I have reviewed the terms of the Credit Agreement and I
have made, or have caused to be made under my supervision, a detailed review of
the transactions and conditions of the Company and its Subsidiaries during the
accounting period covered by the attached financial statements [for quarterly financial statements add: and such financial
statements present fairly in all material respects the financial condition and
results of operations of the Company and its consolidated Subsidiaries on a
consolidated basis in accordance with GAAP consistently applied, subject to
normal year-end audit adjustments and the absence of footnotes];

 

3.             The examinations described in paragraph 2 did not
disclose, except as set forth below, and I have no knowledge of (i) the
existence of any condition or event which constitutes a Default at the end of
the accounting period covered by the attached financial statements or as of the
date of this Certificate or (ii) any change in GAAP or in the application
thereof that has occurred since the date of the audited financial statements
referred to in Section 3.04 of the Credit Agreement; and

 

4.             Exhibit A attached
hereto sets forth financial data and computations evidencing  the Company’s compliance with the financial
covenants set forth in Section 6.10 of the Credit Agreement, all of which
data and computations are true, complete and correct.

 

Described below are the exceptions, if any, to paragraph
3 by listing, in detail, the (i) nature of the condition or event, the
period during which it has existed and the action which the Company has taken,
is taking, or proposes to take with respect to each such condition or event or (i) the
change in GAAP or the application thereof and the effect of such change on the
attached financial statements:

 

[                      ]

 

(signature page follows)

 

 

The foregoing certifications, together with
the computations set forth in Exhibit A hereto and the financial
statements delivered with this Certificate in support hereof, are made and
delivered this            day
of                     ,
20      .

 

	
   

  	
  BRUKER BIOSCIENCES
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}]]