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Exhibit 10.1

Legal Life Plans, Inc.

 

PRIVATE PLACEMENT MEMORANDUM

 

ACCREDITED OR NON - U.S. INVESTORS ONLY

 

 

 

UP TO

 

$9,500,000

 

38,000,000
SHARES OF COMMON STOCK OFFERED FOR $0.25 PER SHARE

This updated Private Placement Memorandum
(this “Memorandum”) relates to the private offering (the “Offering”) of shares (“Shares”) of
Common Stock of LEGAL LIFE PLANS, INC. (“Legal Life Plans” or the “Company”), a Delaware corporation.

 

THE SECURITIES OFFERED HEREBY ARE
SPECULATIVE AND ANY INVESTMENT IN THE SECURITIES OF THE COMPANY INVOLVES A HIGH DEGREE OF RISK. INVESTORS MUST BE PREPARED TO BEAR
THE ECONOMIC RISKS OF ANY INVESTMENT IN THE COMPANY FOR AN INDEFINITE PERIOD AND BE ABLE TO WITHSTAND A TOTAL LOSS OF THEIR INVESTMENT.
SEE “RISK FACTORS” FOR A DISCUSSION OF CERTAIN FACTORS TO BE CONSIDERED BY PROSPECTIVE INVESTORS.

NO ARRANGEMENTS HAVE BEEN MADE TO
PLACE SUBSCRIPTION PROCEEDS IN ESCROW OR ANY SIMILAR ARRANGEMENT. THERE IS NO MINIMUM NUMBER OF SHARES THAT HAVE TO BE SOLD BEFORE
THE COMPANY MAY BEGIN UTILIZING THE NET PROCEEDS THEREFROM IN ACCORDANCE WITH THIS MEMORANDUM.

THE SHARES ARE NOT AND WILL NOT
BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY APPLICABLE STATE OR FOREIGN
SECURITIES LAWS, NOR HAS THE SECURITIES AND EXCHANGE COMMISSION (THE “SEC”) OR ANY STATE OR FOREIGN REGULATORY AUTHORITY
PASSED UPON THE ACCURACY OR ADEQUACY ON THIS MEMORANDUM OR ENDORSED THE MERITS OF THIS OFFERING, AND ANY REPRESENTATION TO THE
CONTRARY IS UNLAWFUL. THE SHARES ARE OFFERED PURSUANT TO EXEMPTIONS PROVIDED UNDER REGULATIONS “D” AND “S”
AS PROMULGATED UNDER THE ACT AND ARE ONLY AVAILABLE FOR PURCHASE TO INVESTORS WHO ARE EITHER “ACCREDITED INVESTORS”
OR WHO ARE NOT “U.S. PERSONS” AS DEFINED UNDER THE ACT. THE SHARES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED
IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND ANY APPLICABLE STATE OR FOREIGN SECURITIES LAWS OR AN OPINION
OF COUNSEL ACCEPTABLE TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED.

	
         

         
	Purchase Price	 	
        Underwriting
        Discounts

        and
        Commissions(1)
	
        Estimated Proceeds

        to the Issuer(2) 

	Per Share	$0.25	 	$0.025	$0.225
	
        Total Maximum

         
	$9,500,000.00	 	$950,000.00	$8,550,000.00

(1) The Company may engage a licensed broker-dealer
as its placement agent in connection with this Offering. The placement agent may charge up to 10% for each subscription.

 

(2) The net proceeds shown in the table above
are stated before deduction of the gross proceeds of the Offering for legal, accounting, printing, travel, and other expenses incurred
by the Company in connection with this Offering and the sale of the Shares. These costs are outlined in the USE OF PROCEEDS section
of this Memorandum.

 

 

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Legal Life Plans, Inc.

 

The date of this Memorandum is January 2013

The Shares are being offered by
the Company subject to prior sale and acceptance by the Company and subject to the Company's right to reject any investment in
whole or in part.

 

	Issued To: ____________________________________ Date ________	Book No. _____

 

The Shares are being offered
and sold in compliance with Rule 506 of Regulation D (“Regulation D”) and/or Regulation S (“Regulation
S”), each as promulgated by the United States Securities and Exchange Commission (the “SEC”) under
the Securities Act of 1933, as amended (the “Securities Act”). Therefore, to purchase Shares in this Offering,
you (or any beneficial person for whom you are acting) must be either (i) an “accredited investor” (as defined in Regulation
D), or (ii) acquiring the Shares in an offshore transaction outside of the United States and not a U.S. Person (as defined by Regulation
S) and, in each case, meet the other suitability requirements set forth herein under the caption “Investor Suitability Requirements”
as well as in the subscription documents attached hereto.

 

THIS MEMORANDUM IS CONFIDENTIAL AND IS
BEING FURNISHED BY THE COMPANY TO PROSPECTIVE INVESTORS IN CONNECTION WITH THE OFFERING OF THE SHARES EXEMPT FROM REGISTRATION
UNDER THE ACT SOLELY FOR SUCH INVESTORS’ CONFIDENTIAL USE WITH THE EXPRESS UNDERSTANDING THAT, WITHOUT THE PRIOR WRITTEN
PERMISSION OF THE COMPANY, SUCH PERSONS WILL NOT RELEASE THIS DOCUMENT OR DISCUSS THE INFORMATION CONTAINED HEREIN OR MAKE REPRODUCTION
OF OR USE THIS MEMORANDUM FOR ANY PURPOSE OTHER THAN AN EVALUATION OF A POTENTIAL INVESTMENT IN THE COMPANY. THIS MEMORANDUM IS
INDIVIDUALLY DIRECTED TO EACH PROSPECTIVE INVESTOR AND DOES NOT CONSTITUTE AN OFFER TO ANY OTHER PERSON OR TO THE PUBLIC GENERALLY
TO SUBSCRIBE FOR OR OTHERWISE ACQUIRE SECURITIES OF THE COMPANY. DISTRIBUTION OF THIS MEMORANDUM TO ANY PERSON OTHER THAN THE PROSPECTIVE
INVESTOR TO WHOM THIS MEMORANDUM WAS DIRECTED, AND THOSE PERSONS, IF ANY, RETAINED TO ADVISE SUCH PROSPECTIVE INVESTOR WITH RESPECT
THERETO, IS UNAUTHORIZED, AND ANY DISCLOSURE OF ANY OF ITS CONTENTS, WITHOUT THE PRIOR WRITTEN CONSENT OF THE COMPANY, IS PROHIBITED.

 

THE INFORMATION PRESENTED HEREIN WAS PREPARED
BY THE COMPANY AND IS BEING FURNISHED BY THE COMPANY SOLELY FOR USE BY PROSPECTIVE INVESTORS IN CONNECTION WITH THE OFFERING. NOTHING
CONTAINED HEREIN IS, OR SHOULD BE RELIED 

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ON AS, A PROMISE OR REPRESENTATION AS TO
THE FUTURE PERFORMANCE OF THE COMPANY.

 

A PROSPECTIVE INVESTOR, BY ACCEPTING DELIVERY
OF THIS MEMORANDUM, AGREES PROMPTLY TO RETURN TO THE COMPANY THIS MEMORANDUM AND ANY OTHER DOCUMENTS OR INFORMATION FURNISHED IF
THE PROSPECTIVE INVESTOR ELECTS NOT TO PURCHASE ANY OF THE SHARES OFFERED HEREBY OR IF THE OFFERING IS TERMINATED OR WITHDRAWN.

 

THIS MEMORANDUM DOES NOT PURPORT TO BE
ALL-INCLUSIVE OR TO CONTAIN ALL THE INFORMATION THAT A PROSPECTIVE INVESTOR MAY DESIRE IN INVESTIGATING THE COMPANY. EACH INVESTOR
MUST CONDUCT AND RELY ON ITS OWN EVALUATION OF THE COMPANY AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED,
IN MAKING AN INVESTMENT DECISION WITH RESPECT TO THE SECURITIES OF THE COMPANY (SEE “RISK FACTORS”). CERTAIN PROVISIONS
OF VARIOUS DOCUMENTS ARE SUMMARIZED IN THIS MEMORANDUM, BUT PROSPECTIVE INVESTORS SHOULD NOT ASSUME THAT SUCH SUMMARIES ARE COMPLETE.
SUCH SUMMARIES ARE QUALIFIED IN THEIR ENTIRETY BY REFERENCE TO THE COMPLETE TEXT OF SUCH DOCUMENTS.

 

THIS MEMORANDUM DOES NOT CONSTITUTE AN
OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY THE SHARES IN ANY JURISDICTION WHERE, OR TO ANY PERSON TO WHOM IT IS UNLAWFUL
TO MAKE SUCH OFFER OR SOLICITATION IN SUCH JURISDICTION. EXCEPT AS OTHERWISE INDICATED, THIS MEMORANDUM SPEAKS AS OF THE DATE HEREOF.
NEITHER THE DELIVERY OF THIS MEMORANDUM NOR ANY SALE MADE HEREUNDER SHALL, UNDER ANY CIRCUMSTANCES, CREATE ANY IMPLICATION THAT
THERE HAS BEEN NO CHANGE IN THE AFFAIRS OF THE COMPANY AFTER THE DATE HEREOF.

 

EACH
INVESTOR MUST COMPLY WITH ALL LAWS AND REGULATIONS APPLICABLE TO THE INVESTOR IN FORCE IN ANY JURISDICTION IN WHICH THE SECURITIES
OFFERED HEREIN ARE OFFERED OR IN WHICH THE INVESTOR PURCHASES SUCH SECURITIES OR POSSESSES THIS MEMORANDUM, AND EACH INVESTOR MUST
OBTAIN ANY CONSENT, APPROVAL OR PERMISSION REQUIRED TO BE OBTAINED FOR THE PURCHASE, OFFER OR SALE OF SUCH SECURITIES UNDER THE
LAWS AND REGULATIONS APPLICABLE TO THE INVESTOR IN FORCE IN ANY JURISDICTION IN WHICH SUCH SECURITIES ARE OFFERED OR IN 

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WHICH
THE INVESTOR PURCHASES SUCH SECURITIES OR POSSESSES
THIS MEMORANDUM. THE COMPANY SHALL NOT  HAVE ANY RESPONSIBILITY THEREFOR.

 

THE
SHARES ARE BEING OFFERED ONLY TO PROSPECTIVE INVESTORS WHO QUALIFY AS (I) ACCREDITED INVESTORS UNDER REGULATION D OR (II) ARE OUTSIDE
THE UNITED STATES AND ARE NOT U.S. PERSONS (AS DEFINED) UNDER REGULATION S. BECAUSE THE SHARES ARE BEING OFFERED TO ACCREDITED
INVESTORS, THIS MEMORANDUM MAY NOT CONTAIN ALL INFORMATION THAT WOULD BE REQUIRED TO BE DISCLOSED UNDER APPLICABLE LAWS AND REGULATIONS
IF THE OFFERING WAS MADE TO PERSONS OTHER THAN ACCREDITED INVESTORS, NOR DOES IT PURPORT TO CONTAIN ALL INFORMATION THAT YOU MAY
DESIRE IN INVESTIGATING THE COMPANY OR FOR MAKING AN INVESTMENT DECISION.

 

NO PERSON HAS BEEN AUTHORIZED TO GIVE ANY
INFORMATION OTHER THAN THAT CONTAINED IN THIS MEMORANDUM, OR TO MAKE ANY REPRESENTATIONS IN CONNECTION WITH THE OFFERING, AND,
IF GIVEN OR MADE, SUCH OTHER INFORMATION OR REPRESENTATIONS MUST NOT BE RELIED UPON AS HAVING BEEN AUTHORIZED BY THE COMPANY. THE
COMPANY DISCLAIMS ANY AND ALL OMISSIONS FROM THIS MEMORANDUM OR ANY OTHER WRITTEN OR ORAL COMMUNICATION TRANSMITTED OR MADE AVAILABLE
TO THE RECIPIENT. EACH INVESTOR WILL BE ENTITLED TO RELY SOLELY ON THOSE REPRESENTATIONS AND WARRANTIES THAT MAY BE MADE TO SUCH
INVESTOR IN ANY FINAL PURCHASE AGREEMENT RELATING TO THE SHARES.

 

CERTAIN OF THE DOCUMENTS DESCRIBED IN THIS
MEMORANDUM ARE CURRENTLY IN THE PROCESS OF NEGOTIATION AND HAVE NOT BEEN FINALIZED. THE DESCRIPTIONS OF SUCH DOCUMENTS CONTAINED
HEREIN ARE SUBJECT TO THE FINAL VERSIONS OF SUCH DOCUMENTS, WHICH WILL BE AVAILABLE FOR REVIEW PRIOR TO THE CONSUMMATION OF THE
OFFERING.

 

INVESTORS ARE NOT TO CONSTRUE THE CONTENTS
OF THIS MEMORANDUM AS LEGAL, BUSINESS OR TAX ADVICE. EACH INVESTOR SHOULD CONSULT SUCH INVESTOR’S OWN ATTORNEY, BUSINESS
ADVISOR AND TAX ADVISOR AS TO LEGAL, BUSINESS, TAX AND RELATED MATTERS CONCERNING THIS OFFERING.

 

IN MAKING AN INVESTMENT DECISION, INVESTORS
MUST RELY ON THEIR OWN EXAMINATION OF THE COMPANY AND THE TERMS OF THE 

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OFFERING, INCLUDING THE MERITS AND RISKS
INVOLVED AND NOT ON ANY REPRESENTATION MADE OR ALLEGED TO HAVE BEEN MADE BY THE COMPANY. THESE SECURITIES HAVE NOT BEEN RECOMMENDED
BY ANY FEDERAL OR STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY. FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOT CONFIRMED
THE ACCURACY OR DETERMINED THE ADEQUACY OF THIS DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

 

THE COMPANY RESERVES THE RIGHT, IN ITS
SOLE DISCRETION AND FOR ANY REASON WHATSOEVER, TO MODIFY, AMEND AND/OR WITHDRAW ALL OR A PORTION OF THE OFFERING AND/OR TO ACCEPT
OR REJECT IN WHOLE OR IN PART ANY PROSPECTIVE INVESTMENT IN THE SHARES OR TO ALLOT TO ANY PROSPECTIVE INVESTOR LESS THAN THE AMOUNT
OF SHARES THAT SUCH INVESTOR DESIRES TO PURCHASE. THE COMPANY SHALL NOT HAVE ANY LIABILITY WHATSOEVER TO ANY OFFEREE AND/OR INVESTOR
IN THE EVENT THAT ANY OF THE FOREGOING SHALL OCCUR.

 

IT IS THE RESPONSIBILITY OF ANY INVESTOR
PURCHASING SHARES TO SATISFY ITSELF AS TO FULL OBSERVANCE OF THE LAWS OF ANY RELEVANT TERRITORY OUTSIDE THE UNITED STATES IN CONNECTION
WITH ANY SUCH PURCHASE, INCLUDING OBTAINING ANY REQUIRED GOVERNMENTAL OR OTHER CONSENTS OR OBSERVING ANY OTHER APPLICABLE REQUIREMENTS.

 

THE SHARES HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OR ANY STATE SECURITIES LAWS. THE SHARES ARE “RESTRICTED SECURITIES” WITHIN THE MEANING OF RULE
144 OF THE SECURITIES ACT AND MAY BE RESOLD OR TRANSFERRED ONLY IN ACCORDANCE WITH AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT OR UNDER AN EFFECTIVE REGISTRATION STATEMENT, AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE STATE SECURITIES LAWS OR
SECURITIES LAWS OF ANY OTHER APPLICABLE JURISDICTION. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SHARES MAY NOT BE CONDUCTED
UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.

 

THE SHARES HAVE NOT BEEN APPROVED NOR DISAPPROVED
BY THE SEC, ANY STATE SECURITIES COMMISSION OR ANY OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED
UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THIS MEMORANDUM. ANY REPRESENTATION TO THE CONTRARY
IS A CRIMINAL OFFENSE.

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FOR UNITED
KINGDOM RESIDENTS ONLY:

THIS
MEMORANDUM OUTLINES PROPOSALS FOR THE ISSUE OF SECURITIES OF THE COMPANY AND IS BEING CIRCULATED IN THE UNITED KINGDOM, ONLY TO
PERSONS WHO FALL WITHIN ANY OF THE FOLLOWING CATEGORIES:

 

(1) ‘INVESTMENT
PROFESSIONALS’ FOR THE PURPOSES OF ARTICLE 19 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER
2001 (ORDER); OR

 

(2) ‘HIGH
NET WORTH BODIES CORPORATE, UNINCORPORATED ASSOCIATIONS, PARTNERSHIPS’, OR A ‘HIGH VALUE TRUST’ FOR THE PURPOSES
OF ARTICLE 49 OF THE ORDER OR ANY PERSON ACTING IN THE CAPACITY OF DIRECTOR, OFFICER OR EMPLOYEE OF SUCH AN ENTITY WHEN SO ACTING
INVOLVES HIM IN THAT ENTITY’S ENGAGING IN INVESTMENT ACTIVITY.

 

THIS MEMORANDUM
IS EXEMPT FROM THE GENERAL RESTRICTION IN SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (ACT) ON THE COMMUNICATION
OF INVITATIONS OR INDUCEMENTS TO ENGAGE IN INVESTMENT ACTIVITY ON THE GROUNDS THAT IT IS ONLY MADE TO PERSONS FALLING INTO CATEGORIES
1 AND 2 ABOVE.

 

A PERSON FALLING
INTO CATEGORY 1 IS ANY PERSON HAVING PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS, AND ANY INVESTMENT ACTIVITY, TO
WHICH THIS DOCUMENT RELATES.

 

A PERSON FALLING INTO
CATEGORY 2 IS:

 

(1)
ANY BODY CORPORATE WHICH HAS A CALLED UP SHARE CAPITAL OR NET ASSETS OF:

 

(i) IN THE
CASE OF A BODY CORPORATE WHICH HAS MORE THAN 20 MEMBERS, OR IS A SUBSIDIARY UNDERTAKING OF A PARENT UNDERTAKING WHICH HAS MORE
THAN 20 MEMBERS, NOT LESS THAN £500,000; OR

 

(ii) IN THE CASE
OF ANY OTHER BODY CORPORATE, NOT LESS THAN £5 MILLION;

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(2) ANY UNINCORPORATED
ASSOCIATION OR PARTNERSHIP WHICH HAS NET ASSETS OF NOT LESS THAN £5 MILLION; OR

 

(3) THE TRUSTEE
OF A HIGH VALUE TRUST, BEING A TRUST WHERE THE AGGREGATE VALUE OF THE CASH AND INVESTMENTS WHICH FORM PART OF THE TRUST’S
ASSETS, BEFORE DEDUCTING THE AMOUNT OF ITS LIABILITIES, IS £10 MILLION OR MORE, OR HAS BEEN £10 MILLION OR MORE DURING
THE 12 MONTHS PRECEDING THE DATE OF THIS MEMORANDUM. 

 

NO
PERSON OTHER THAN A PERSON FALLING INTO EITHER OF THE CATEGORIES ABOVE SHOULD PLACE ANY RELIANCE ON THIS MEMORANDUM. THE COMPANY
WILL NOT ENGAGE IN ANY CORRESPONDENCE OR INVESTMENT ACTIVITY WITH PERSONS NOT FALLING INTO ONE OF THE ABOVE CATEGORIES.

 

THIS
MEMORANDUM IS NOT A PROSPECTUS FOR THE PURPOSES OF THE PUBLIC OFFER OF SECURITIES REGULATIONS 1995.

 

THIS
MEMORANDUM HAS BEEN PREPARED BY THE DIRECTORS OF THE COMPANY AND EACH OF THE DIRECTORS HAS TAKEN REASONABLE CARE THAT THE FACTS
STATED IN IT ARE TRUE AND ACCURATE IN ALL MATERIAL RESPECTS, THAT THE STATEMENTS IN IT ARE FAIR AND REASONABLE AND THAT THERE ARE
NO OTHER FACTS, THE OMISSION OF WHICH WOULD MAKE MISLEADING ANY STATEMENT IN THIS MEMORANDUM, WHETHER OF FACT OR OPINION.

 

THIS MEMORANDUM DOES NOT CONSTITUTE AN
OFFER OF, OR AN INVITATION TO, THE PUBLIC TO SUBSCRIBE FOR THE PURCHASE OF ANY OF THE SECURITIES.

 

EACH INVESTOR SEVERALLY REPERESENTS AND
AGREES THAT: (i) IT HAS NOT OFFERED OR SOLD AND PRIOR TO THE DATE SIX MONTHS AFTER THE DATE OF ISSUANCE OF THE SHARES WILL NOT
OFFER OR SELL, ANY OF THE SECURITIES ACQUIRED HEREBY TO PERSONS IN THE UNITED KINGDOM, EXCEPT TO PERSONS WHOSE ORDINARY ACTIVITIES
INVOLVE THEM IN ACQUIRING, HOLDING, MANAGING OR DISPOSING OF INVESTMENTS (AS PRINCIPAL OR AGENT) FOR THE PURPOSE OF THEIR BUSINESSES
OR OTHERWISE IN CIRCUMSTANCES WHICH HAVE NOT RESULTED AND WILL NOT RESULT IN AN OFFER TO 

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THE PUBLIC IN THE UNITED KINGDOM WITHIN
THE MEANING OF THE PUBLIC OFFERS OF SECURITIES REGULATION 1995; (ii) IT HAS COMPLIED AND WILL COMPLY WITH ALL APPLICABLE PROVISIONS
OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 WITH RESPECT TO ANYTHING DONE IN RELATION TO THE SHARES, IN FROM AND OTHERWISE INVOLVING
THE UNITED KINGDOM; AND (iii) IT HAS ONLY ISSUED OR PASSED ON AND WILL ONLY ISSUE OR PASS ON IN THE UNITED KINGDOM ANY DOCUMENT
RECEIVED IN CONNECTION WITH THE ISSUANCE OF THE SHARES TO A PERSON WHO IS OF A KIND DESCRIBED IN ARTICLE 11(3) OF THE FINANCIAL
SERVICES ACT 1986 (INVESTMENT ADVERTISEMENTS) (EXEMPTIONS) ORDER 1996 OR IS A PERSON TO WHOM THE DOCUMENT MAY OTHERWISE LAWFULLY
BE ISSUED OR PASSED ON.

 

FORWARD
LOOKING STATEMENTS

 

Certain statements
in this Memorandum INCLUDING BUT NOT LIMITED TO STATEMENTS, ESTIMATES AND PROJECTIONS OF FUTURE TRENDS AND OF THE ANTICIPATED FUTURE
PERFORMANCE OF THE COMPANY constitute "forward-looking statements" within the meaning of section 27A of the act, including,
without limitation, statements regarding the company’s expectations, beliefs, or future strategies that are signified by
the words “expects,” “anticipates,” “intends,” “believes,” or similar language.
Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the
actual results, performance or achievements of the company, or industry results, to differ materially from any future results,
performance or achievement implied by such forward-looking statements. prospective investors should carefully consider the information
set forth below under the heading “risk factors” in addition to the other information set forth herein.

 

Statements in
this Memorandum that are forward-looking AND involve numerous risks and uncertainties that could cause actual results to differ
materially from expected results are based on the company's current beliefs AND ASSUMPTIONS regarding a large number of factors
affecting its business. Actual results may differ materially from expected results. There can be no assurance that (i) the company
has correctly measured or identified all of the factors affecting its business or the extent of their likely 

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impact, (ii)
the publicly available information with respect to these factors on which the company's analysis is based is complete or accurate,
(iii) the company's analysis is correct or (iv) the company's strategy, which is based in part on this analysis, will be successful.

 

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	Table of Contents	 
	 	PAGE
	1.       SUMMARY OF THE OFFERING	 	1	 
	2.       THE COMPANY	 	4	 
	3.       MARKETING PLAN	 	11	 
	4.       MIGRANT WORKERS PROGRAM	 	14	 
	5.       STAFFING & FACILITIES	 	16	 
	6.       PLAN OF DISTRIBUTION	 	17	 
	7.       USE OF PROCEEDS AND PRINCIPAL PURPOSES OF THE OFFERING	 	18	 
	8.       MANAGEMENT & KEY PERSONNEL	 	20	 
	9.       COMPENSATION OF OFFICERS AND DIRECTORS	 	26	 
	10.    CONFLICTS OF INTEREST	 	27	 
	11.    CERTAIN TRANSACTIONS	 	28	 
	12.    RELATED PARTY TRANSACTIONS	 	29	 
	13.    CAPITALIZATION	 	32	 
	14.    DESCRIPTION OF CAPITAL STOCK AND CONVERTIBLE SECURITIES	 	33	 
	15.    TERMS OF THE OFFERING	 	35	 
	16.    RISK FACTORS	 	36	 
	17.    ADDITIONAL INFORMATION	 	50	 
	18.    SUBSCRIPTION AGREEMENT	 	 EXHIBIT A	 
	19.    INVESTOR QUESTIONNAIRE FOR ENTITIES	 	EXHIBIT B	 
	20.    INVESTOR QUESTIONNAIRE FOR INDIVIDUALS	 	EXHIBIT C	 

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SUMMARY
OF THE OFFERING

 

The following
summary is qualified in its entirety by the more detailed information appearing elsewhere in this Memorandum.

 

	ISSUER	Legal
    Life Plans, Inc., [LLFP, the “Company” or Legal Life Plans] a corporation organized under the laws of the state
    of Delaware will offer comprehensive legal reimbursement cost insurance plans to individual consumer and employer and/or affinity/association
    groups, for a monthly membership fee. The Company will also focus on providing overseas Filipino workers with a legal &
    death benefit plan. (See THE COMPANY)
	SECURITIES
    OFFERED	Up to
    38,000,000 shares of common stock of the Company(See TERMS OF THE OFFERING)
	OFFERING
    PRICE	$0.25
    per share of common stock.
	MINIMUM
    PURCHASE	No minimum
	INVESTOR
    SUITABILITY	A purchase of the Shares
    is limited to investors who are either “accredited investors” or are not “U.S. Persons” as defined
    pursuant to the United States Securities Act of 1933 (“Securities Act”)
	OFFERING
    NOT EXCLUSIVE	The Shares
    offered hereby are not the exclusive means by which the Company may issue its securities in exchange for cash, property, services,
    forgiveness of debt, or otherwise and any such issuances may likely be made on terms and conditions substantially more favorable
    than the terms of this Offering

 

 

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	RESTRICTED
    SECURITIES	The
    Shares are not being registered with the United States Securities and Exchange Commission (“SEC”) or under applicable
    state law registration requirements and are therefore considered “restricted securities” under the Securities
    Act.  Accordingly, the Securities may not be offered, sold, or otherwise transferred except in compliance with applicable
    federal and state law.  The Company expects that Rule 144, promulgated by the SEC under the Securities Act, which provides
    an exemption from SEC registration for certain limited, routine sales of unregistered securities, will be available to investors
    seeking to transfer or dispose of the Securities, but cannot guarantee that this exemption will be available or that the Securities
    or the Company will otherwise qualify under the Rule.  Accordingly, investors may be required to bear the economic risk
    of investing in the Shares for an indefinite period of time unless the Shares or the underlying Securities are registered
    pursuant to the Securities Act or, in the opinion of counsel in the form and substance satisfactory to the Company, another
    exemption from the registration requirements of the SEC is available.
	SUBSCRIPTION
    PROCESS	The Offering
    will be managed by the Company and the Shares may be offered and sold by a Placement Agent.  The Company, at its discretion,
    may accept or reject any subscription in whole or in part. Potential purchasers should deliver executed subscription documents
    and payment for Shares to the Company prior to May 2013, or such later date as the Company may designate

 

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	SECURITIES OUTSTANDING	The
        Company is authorized to issue 500,000,000 shares of common stock and 20,000,000 shares of preferred stock. The Company
        has authorized and will have 77,071,419 shares
        of common and 19,020,000 shares of preferred stock issued and outstanding upon completion of the anticipated reverse merger
        with 

        Legal Life Plans,
        Inc. of UT, and immediately prior to this Offering as detailed in this Memorandum. Upon completion of this Offering, if
        all Shares offered herein are sold, 134,091,419 shares of common and preferred stock will be assumed issued and outstanding
        on a fully-diluted basis. (See CAPITALIZATION)

	RISKS	An investment
    in the Company involves a high degree of risk. (See RISK FACTORS)
	ADDITIONAL
    INFORMATION	The Company files
        periodic reports with the U.S. Securities and Exchange Commission (“SEC”). You may obtain a copy of such reports
        and other information with the SEC without charge, by writing us at our principal office at the address below or by calling
        (561) 672-7300. In addition, you may obtain copies of such information on the SEC’s web site (http://www.sec.gov).
        You may inspect these reports at the public reference facilities of the SEC at room 1580, 100 F. Street, N.E., Washington,
        D.C. 20549. Questions concerning the Company or the information contained in this Memorandum should be directed to the
        following:

         

        Scott Weissman, Chief Executive
        Officer

        LEGAL LIFE PLANS, INC.

        2900 North Military Trail,
        Ste. 107

        Boca Raton, FL 33431

        Of: (561) 672-7300; FAX:
        (561) 756-8068

        Cell: (786) 424-9619

        Email
        scottweissman@legalplanprovider.com

        

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THE COMPANY

 

THE DESCRIPTION OF THE BUSINESS
SET FORTH HEREIN IS THE BUSINESS OF LEGAL LIFE – UT (AS DEFINED BELOW), AND NOT THE BUSINESS OF LEGAL LIFE PLANS, INC. (THE
“COMPANY”). IN THE EVENT THE TRANSACTION BETWEEN THE COMPANY AND LEGAL LIFE – UT DESCRIBED BELOW CLOSES, THE
BUSINESS OF LEGAL LIFE – UT WILL BE THE BUSINESS OF THE COMPANY. UNLESS AND UNTIL THE CLOSING, THE COMPANY WILL BE DEEMED
A SHELL COMPANY.

 

A PORTION OF THE PROCEEDS RECEIVED
HEREUNDER WILL BE UTILIZED BY THE COMPANY TO LOAN FUNDS TO LEGAL LIFE – UT TO UTILIZE AS WORKING CAPITAL IN ORDER TO OPERATE
ITS COMPANY AND TO FACILITATE THE CLOSING OF THE TRANSACTION DESCRIBED BELOW.

 

Organization and Corporate History

 

Legal Life Plans,
Inc. (sometimes referred to throughout this Memorandum as “Legal Life Plans” the “Company,” “we,”
“us,” or “our”) was originally incorporated on May 1, 1991 in the state of Tennessee under the name “Cancer
Therapeutics Incorporated.” On September 7, 2004, we reincorporated Cancer Therapeutics in the state of Delaware under its
present name. Cancer Therapeutics was acquired by Immune Complex Corporation on September 15, 1998 and subsequently Immune Complex
Corporation liquidated its assets (which assets included all of the then-issued shares of Cancer Therapeutics) on June 8, 2000.
The shareholders of Immune Complex Corporation were issued shares of Cancer Therapeutics Incorporated on a pro rata basis.

 

On July 31,
2007, the Company sold certain assets in exchange of 56 shares of its common stock which are now held in treasury. Following this
transaction the Company entered into shell status with no significant operations.

 

On October 19,
2010, the Company changed its name to Nano Dimensions, Inc. and filed a Restated Certificate of Incorporation with the state of
Delaware. The Restatement was approved through a majority shareholder consent, and the authorized shares of common stock were
increased to 500 million.

 

On November
5, 2010, the Company effected a 1 for 500 reverse stock split which reduced the number of issued shares of common stock from 85,569,477
shares to 171,139 shares.

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On January 6,
2012, the Board and holders of a majority of the voting rights of the outstanding capital stock of Nano Dimensions, Inc. approved
a restatement of the Company’s Certificate of Incorporation and a change of the Company’s trading symbol.  The
purpose of the restatement of the Certificate of Incorporation was to change the name of the Company to Legal Life Plans, Inc.

 

The current
trading symbol of the Company is “LLFP,” which became effective February 7, 2012.

 

During March
2012, the Company, which is currently a shell corporation, entered into an agreement to acquire Legal Life Plans, Inc., a Utah
corporation (“Legal Life- UT”) as its wholly owned subsidiary in exchange for 91,000,000 shares of common stock and
1,000,000 shares of series A preferred stock, and 18,000,000 shares of series B preferred stock (See “Capitalization”).
Legal Life-UT acquired all of the assets and liabilities of the Legal Life Plans, Inc., a Florida private corporation in March
2012. Legal Life-UT is the Company’s wholly-owned, operating subsidiary. This transaction to acquire Legal Life- UT is not
completed and the shares have not yet been issued as Legal Life – UT is in the process of finalizing its financial statements
required in our SEC filings. While we believe all of the conditions to the acquisition will be finalized shortly there is no guarantee
that they will be satisfied shortly or at all.

 

Business

 

The business
plan described herein is the business of Legal Life-UT. In the event the transaction with Legal Life – UT does not close
for any reason the Company will continue to be considered a shell company (as defined in Rule 12b-2 of the Exchange Act), and
will seek alternative businesses. The primary plan, which we will market in the United States, is a comprehensive legal reimbursement
cost insurance plan for individual consumers and employers and/or affinity/association groups for a monthly premium. We plan to
also offer a plan designed for Migrant Workers which we plan to initially launch for workers deployed from the Philippines. These
plans may also include travel insurance and assistance.  For the US plan, the Company will also seek strategic partnerships
with other service companies to enable it to offer identity theft protection and other services, as well.

 

The states
in which we will initially plan to offer our services are: CA, CO and UT. We have already submitted our applications to the respective
agencies in these states and plan to be able to start business operations

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during first quarter of 2013. We
then plan to rollout our business expansion in CT, DE, KY, LA, MD, MN, NM, OH, OK, and WV.   We plan to negotiate with
an insurance underwriter who can underwrite our policies as required by law in the additional 37 States, as well as the District
of Columbia.

 

It is estimated
that the market for legal plans is over 100 million American households. Our legal plans use the same group purchasing principles
used by employee benefit plans such as health, dental, vision and other group insurance and voluntary benefit products. Group
and voluntary benefit plans are primarily sold through insurance brokers, benefit consultants, marketing ventures with insurance
companies and direct-consumer marketing channels.

 

Legal Life UT’s
plan is currently priced at $29.95 for an individual and $39.95 for families. Family plans cover two married or live in partners
as well as up to two children up to the age of 21 who live in the same household and one child above the age of 21 living out
of state. Additional coverage for additional children would be offered for an increase in premium.

 

It is anticipated
that the Company shall be able to enter into resale agreements with a third party for the purpose of fraud protection and other
forms of insurance and services. These plans will be sold primarily through agents/brokers, television and radio infomercials
and commercials and print media advertorials.

 

Legal Life UT’s
Group Legal Services Plan can be sold as a payroll deducted, employee benefit administered by a company’s HR department
in the same manner as their other benefits are offered. The employee receives the same comprehensive legal service plan coverage
and representation as individual members. Offering the plan is cost free for the employer to offer or administer, and in some
circumstances the company or group may benefit in some manner if their employees or members purchase the plan. The benefits may
include revenue sharing as well as reduced company costs associated with employees being out of work dealing with legal issues.

 

Provider Law Firms

 

Plan holders
will have access to legal services through a network of provider law firms under contract with Legal Life Plans. Provider law
firms will be paid a fixed fee based on the plan purchased by the plan holder similar to an HMO structure in the health care industry.
Services rendered by a provider law firm not covered by the plan will be charged directly to the plan holder by the provider law
firm based on the predetermined per hourly rate which in

    	Table of Contents

    	7

    

most cases is at a 25% discount
to the normal hourly rate of that law firm provider. In the event that a plan holder decides to obtain outside legal representation
they will not be reimbursed for any expenses unless we are able to partner with an insurance company underwriter who would insure
the out of pocket expenses for a member.

 

We will initially
market our individual legal plan for $29.95 per month and our Family legal plan for $39.95 per month. It is anticipated that the
provider law firm will receive approximately $7.00 per month for each individual and $14.00 per month for each family plan assigned
to that firm. We expect that we will also be including additional benefits and services with our plans for an additional cost.
Provider law firms would not receive any of the revenue derived from the sale of additional services.

 

Provider law
firms will be selected based on a number of factors including experience and reputation as well as our own on-site evaluation
of the provider law firm’s offices and attorneys employed by the firm.

 

We will conduct
a thorough back ground investigation of the bar association standing and education of the prospective provider law firm’s
attorneys and will only engage firms which have a minimum of $100,000 in malpractice insurance for each attorney.

 

All provider
law firms will enter into identical agreements with Legal Life Plans, which amongst other things, indemnify Legal Life Plans against
any and all claims between provider law firms or its attorneys and plan holders.

 

Legal Life Plans
is not responsible for any payments due to provider law firms on behalf of any plan holder for services rendered by a provider
law firm to a plan holder which exceeds its benefit limit or is not a covered benefit.

 

Plan Holders
will be assigned to a provider law firm based on geographic location. We will look to engage medium to large sized law firms which
have multiple locations.

 

Provider law
firms will be monitored by a quality control department which will investigate any complaints by our plan members as well as review
any comments by plan members on the quality of the services rendered to them.

 

We anticipate
all provider law firms will be linked to an intranet and will utilize software developed by Legal Life Plans. This system will
allow us to monitor the provider firms and prepare efficiency and quality control reports.

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We will evaluate
the performance of our provider law firms regularly to ensure our plan holders are receiving the best possible service.

 

We have signed
a Letter of Intent with PDC Capital Group and an associated legal firm with offices in each state, for the purpose of creating
a partnership or joint venture to create our legal world-wide network of law firms for our US legal plans and for our migrant
workers program. PDC Capital Group and their associated law group have extensive experience with building law firm networks globally.
We anticipate this relationship to accelerate the Company's ability to service and market its Legal Plans world-wide. We anticipate
definitive agreements memorializing the partnership or joint venture to be finalized early in 2013. There is however, no guarantee
that any such agreements will be executed by that date or at all.

 

Third Party Administration 

 

The Company
plans to utilize services of a Third Party Administrator to handle all of its back office functions such as fee billing, collection
and reconciliation services, as well as customer care and other general administrative functions in connection with the Company’s
legal plans or other services. We currently do not have a third party administrator. However, we are in negotiations and we believe
we will be able to hire or partner with one in the near term.

 

Website and Software Development/
Customer Service Support

 

We have entered
into an agreement with Online Media Services (OMS) Asia Inc., a Philippine based company for the purposes of customer service
call center facilities. Under the terms of the agreement, Online Media Services will provide Legal Life Plans with in-bound call
center services for sales and customer support, out-bound call center telemarketing for sales, administrative, and customer support
staff. Online Media Services will also provide Legal Life Plans with office space, computers, phones and office furniture so we
can quickly implement the marketing of our legal plan in both the United States as well service the Migrant Workers Program. By
outsourcing all of our customer service needs in the Philippines, the Company will be able to cut costs drastically and the agreement
gives Legal Life Plans the structure and organizational support it needs to fully operate its business without having to spend
a substantial amount of capital. The value of this service is estimated to be approximately $1,000,000. Online Media Services
has agreed to accept a promissory note from Legal Life Plans for the final amount which will be determined at a later date and
then will convert at least

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    	9

    

95% of the promissory note to common
stock. We are still in the process of finalizing the terms of this agreement. OMS (HK) Limited will provide IT services including
website design and maintenance as well as software development for the purpose of linking the legal network together.

 

MARKET SIZE & DYNAMICS

 

Legal service
plans, while used in Europe for more than one hundred years, and representing more than a $4 billion European industry, were not
developed in the United States until the late 1960s. Since that time there has been steady growth. In America, exponential growth
and demand for legal plans really first began in 1997.

 

The Company’s
current primary target market, either through employer groups or individual consumer sales is families. According to current market
data and the Prepaid Legal, Inc., 2000 annual report, this market represents 100 million family households in the United States
and Canada. They value this market at over $30 billion. The Census Bureau of Labor reports that total non-farm payroll employment
in the United States, excluding Alaska and Puerto Rico, is 124.9 million individuals. According to the National Consumer Council
on Legal Affairs only 8% of the current work force is covered by comprehensive paid legal plans.

 

The industry’s
largest supplier, Pre-Paid Legal, Inc., says it has only 1% of the market with over one million plan members, and has grown by
an average of 35% per year since 1997. The growth rate is expected to accelerate due to continued increase in market awareness
of legal plans and the genuine need for the product. For us, the market is virtually untapped, with approximately 95 million households
yet to be covered.

 

COMPETITION

 

There are a
few national competitors with comprehensive insurance regulated legal plans as well. These companies include: Pre-Paid Legal Inc.
(PPD, NYSE), Hyatt Legal Plans (a MetLife Company), ARAG Insurance Group (formerly Mid West Legal Services), and Signature Legal
Care (a GE Financial Company).

 

MARKET GROWTH AS AN INDUSTRY

 

According to
Public Perceptions of Lawyers Consumer research findings, 2002, published by section litigation - American Bar Association, altogether,
seven in ten U.S. households (71%) report experiencing some event in the past

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twelve months that might
have led them to hire a lawyer. The most common events are:

 

·        
Real estate transactions 

·        
Mortgage refinancing 

·        
Damage to property or automobile 

·        
Creating of wills or estate plans 

·        
Inadequate health care 

·        
Moving traffic violations 

·        
Trouble with creditors

 

The
American Bar Association reports:

 

·        
3 new civil suits are filed every second of every minute of every hour of every day, 7 days a week.

·        
66% of Americans reporting legal problems do without an attorney because the fees would be too high. 

 

According
to the following statistical and survey data, it is projected that the growth of the industry will continue at a rapid pace.

 

·        
Employee Benefit NEWS recently reported that 90% of the market for employer
sponsored legal plans is unsold in the employer-based market.

·        
A national survey conducted by LIMRA for the insurance industry, published in May 1999, found that legal plans were the number
one voluntary benefit that employers would consider adding within the next 2-year period. 

·        
According to the American Bar Association Journal, one-half of all employee absenteeism is directly related to the personal
legal problems of employees. 

·        
San Francisco based, LSK Associates, found that nearly 50% of survey respondents took time off from work to deal with legal
problems. On average, employees missed 51 hours of work per year to attend to their legal matters according to Employee Benefit
News. 

·        
According to the America Bar Association, only 30% of Americans currently have a will.

·        
The average person is three times more likely to make an appearance in a court of
law than they are in a hospital. There were 34 million hospitalizations vs. 91 million court filings in 1999 according to the
National Center for Consumers of Legal Services.

    	 

    	11

    

·        
Bankruptcy filings continue
to exceed a million a year according to the American Bar Association.

·        
A company with 1,000 employees
earning an average of $10.00 per hour is losing approximately $613,000 in productivity annually due to employee’s
legal-related problems according to Risk Management Magazine.

 

MARKETING
PLAN

 

Long Form Infomercials

 

We have engaged
a production team to produce a 30 minute infomercial as well as 30, 60 and 90 second commercial spots. It is our opinion that
in a long form 30 minute infomercial, we will have a better result than a short form commercial because the long format allows
us to educate our consumers as the importance and true benefit of our product. We plan to market our individual and family plans
in the infomercial, however we will also talk about the benefit of a legal plan for employers to offer their employees.

 

We will utilize
outsourcing of call centers in the Philippines and the ability to have highly educated personnel providing the customer support
and sales services Legal Life Plans requires. We should be able to increase our closing rate due to the fact that the agents answering
the phones have extensive product knowledge of the services that we provide.

 

Short Form Television Spots

 

We plan to produce
30, 60 and 120 second television commercials. We believe that 30, 60 and 120 second short form commercials would perform well
for us. These spots need to follow a two-step approach. By that we mean that step one would be the spots offering a free informational
package and capturing the names and information of callers. Step two would be our outbound sales people converting them into members.
This will result in our being able to place the commercials in programming areas conducive to our demographic and allow us to
go after some frequency. In addition, we will need to buy this media nationally.

 

Radio

 

We plan to produce
a thirty (30) minute long form radio infomercial. We believe that this can be very successful for us. . Because our product is
not visual, an attentive listener can get the message as well or better than

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    	12

    

Legal
Life Plans, Inc.

 

they will on television. Also, we
can do it for a lot less money in many cases. Radio reaches a more affluent and older audience that also has a penchant for news
and issues.

 

Due to Legal
Life Plans Legal Plan’s inherent newsworthiness as a revolutionary and needed service to all Americans, and the current
popularity of legal related shows, Legal Life Plans is ideal for talk radio interviews across the country. This not only builds
a no or low cost effective Public Relations campaign but would also serve as a no or low cost direct response advertising device.

 

Print Advertising

 

We are in negotiations
with CWC Sports Promotions LLC (“CWC”) and Dogan Sports Management, both California based sports marketing firms.
If we enter into a final agreement, CWC sports will be selling Legal Life Plans Inc., advertising space in various sports publications
such as Hoops Magazine, Major League Baseball game day programs and yearbooks, as well as all other sports leagues game day programs
and yearbooks.

 

Advertorials

 

This is simply
the practice of writing what looks like a news article for print use, but spinning it into a direct response ad. Using attention-getting
headlines in this arena are important. Also, Legal Life Plans can work with firms that will run these ads at their own expense,
if they like the product, in exchange for their making some of the profit. We have not explored the specifics of such an arrangement.

 

Affinity Groups

 

Legal Life Plans
will market its legal plan to employer benefits services companies and will continue to seek out additional affinity groups to
market its legal plan to.

 

Internet

 

The web site
www.legalplanprovider.com is in the process of being developed and made to sell the service
or capture lead information for follow up sales. During television campaigns, it is very common to receive five times as many
web hits as phone calls. We need to ensure that the information and opportunity exist for a viewer to become a member. Management
will utilize key word marketing campaigns. This is the process

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of buying key words and continuing
search key optimization on major search engines so that our website listing would come up when someone is looking for an attorney.

 

Telemarketing

 

Our product
needs to be addressed by very informative inbound telemarketers and people who can close a sale. As selling our product is similar
to selling insurance, management can create its own inbound telemarketing room with the right sales manager. Also, Legal Life
Plans could outsource a shared environment (less costly) or a dedicated call center that would work for us as a subcontractor.
The call center would be a profit center from which we could test and practice several selling and marketing and cross-marketing
methods. For example, multi-pricing is one such method. A caller initially calls in with the intention to purchase one individual
legal plan at $29.95 per month. However, management is of the opinion that there are a high percentage of consumers who would
be willing to pay a higher price per month by up selling them on the phone to our more expensive legal plans, as well as our other
Legal Life Plans products. If our testing indicates that the market would support multi-pricing, we could modify our infomercial
and other marketing methods accordingly. By training the telemarketers properly we would start the callers off at the higher price
and then price drop as needed. It is management’s opinion that we can convert 25% of callers to the higher priced plans
with no significant added cost.

 

We will utilize
a call center in the Philippines and it is our intention to only hire lawyers and paralegals to act as customer service representatives
or sales agents.

    	Table of Contents

    	14

    

MIGRANT WORKER
PROGRAM

 

Legal Life Plans
has designed a plan specifically to meet the needs of the more than 86 million migrant workers around the world. Legal Life Plans
will establish a new company for the Migrant Worker Program which will be a subsidiary of Legal Life Plans. Migrant workers are
described as individuals who leave their home country for employment in another country. The countries which deploy the large
majority of all migrant workers are The Philippines, Indonesia and Malaysia. In each of these countries the migrant workers remit
much of their money back to their families in their home country, representing one of the largest, if not the largest sources
of money for the country. These workers are regularly subject to legal and medical related issues for which Legal Life Plans is
establishing an international network of lawyers to provide low cost legal counsel when the workers find themselves in need of
help.

 

The legal plan
will cover matters related to working conditions, unpaid wages, visa and immigration issues. It will also include a travel assistance
program which will provide a variety of services for the workers, including bedside visits for family members in the event the
worker is hurt on the job and the reparation of remains in the event that a worker should die while outside of the workers’
home country. A very big concern for a migrant worker is the cost of getting hurt or dying on the job because of the amount of
money it would cost their family to visit them in the hospital or to bring their remains back to their home country for burial.

Legal Life Plans
will initially launch its services to Filipino migrant workers or Overseas Filipino Workers (“OFW”), as they are referred
to by the Philippine government. In the Philippines, the remittances of money by the OFW's account for more money for the country
than any other source.

 

In the Philippines
Legal Life Plans will be represented by Reyes-Fajardo & Associates, one of the most prominent law firms in the country. Reyes-Fajardo
& Associates will act in the capacity of legal council to Legal Life Plans and/or its subsidiary and will be the legal service
provider to plan holders on the island of Luzon for OFW's and their families for covered matters. We are currently in the process
of interviewing additional law firms on the other islands in the Philippines such as Cebu, Mindoro and Mindanao to service the
OFW's and their families.

 

Working with
Atty Reyes-Farardo is Antonio G. Arellano, Esq. who we believe is considered by the OFW's to be their most trusted advocate for
fair treatment around the world. Mr. Arellano is registered to practice law in both

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the Philippines and Hong Kong and
has a radio show for the purpose of providing legal advice to OFW’s around the world. Even though he is only registered
to practice law in the Philippines and Hong Kong, because he is followed by workers all over the world, we believe he is the perfect
marketing partner for us. He will be able to service the OFW’s in Hong Kong, and he can help us market our plans to his
listeners who are not yet covered by our plans, by expressing the need for them to obtain this type of policy for themselves,
before problems arise.

 

Certain Facts Regarding Migrant
Workers

 

		·	Migrants
                                                                                                         provide huge flows of
                                                                                                         remittances to their
                                                                                                         countries, amounting
                                                                                                         to an estimated US$ 80
                                                                                                         billion annually (in
                                                                                                         2002), or the second
                                                                                                         largest source of external
                                                                                                         funding for developing
                                                                                                         countries, according
                                                                                                         to data from the World
                                                                                                         Bank.

 

		·	Women
                                                                                                             account for 49 per
                                                                                                             cent of the world's
                                                                                                             migrants and are
                                                                                                             increasingly traveling
                                                                                                             on their own as their
                                                                                                             family's primary
                                                                                                             income earner. 

 

		·	Between
                                                                                                             10 to 15 per cent
                                                                                                             of migrants are in
                                                                                                             irregular status,
                                                                                                             a phenomena that
                                                                                                             is not confined to
                                                                                                             developed countries.
                                                                                                             The extent of the
                                                                                                             flows of irregular
                                                                                                             workers is a strong
                                                                                                             indication that demand
                                                                                                             for regular migrant
                                                                                                             workers is not being
                                                                                                             matched by the supply.

 

		·	Working
                                                                                                             conditions for a
                                                                                                             large portion of
                                                                                                             migrants are abusive
                                                                                                             and exploitative,
                                                                                                             sometimes constituting
                                                                                                             forced labor, and
                                                                                                             all too often include
                                                                                                             the denial of union
                                                                                                             rights, discrimination
                                                                                                             and xenophobia. 

 

Regulation

 

We are subject
to various state laws related to insurance regulation. We are also subject to government laws and regulations concerning health,
safety, working conditions, employee relations, wrongful termination, wages, taxes, and other matters applicable to businesses
in general.

 

Our migrant
worker program may be regulated by Republic Act No. 9829, the Pre-Need Code of the Philippines (“Pre-Need Code”). 
In the event that the Company's migrant worker program is regulated by the Pre-Need Code, we would need to obtain a license to
sell or offer our pre-need plan.  We would be required to apply for an endorsement from the Licensing Division of the Insurance
Commission in the Philippines, submit

    	Table of Contents

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documentation, and we would need
to have paid-in capital of at least approximately US $2,222,222.  It is not certain that we will receive approval for our
license from the Insurance Commission.

 

Furthermore,
the Insurance Commission, the Department of Labor and Employment, and the National Labor Relations Commission in the Philippines
have adopted certain Insurance Guidelines that directly affect our business. All migrant workers that have a recruitment agency
must receive insurance from their recruitment agencies at no cost to the migrant worker. This required insurance is to cover basic
life insurance, accidental death, disability, and in case of injury or illness, visits by family, and repatriation, if necessary.
The Legal Insurance offered by Legal Life Plans is not currently required under the law, but may be sold as part of the insurance
package.

 

Since the requirements
of the insurance companies who are eligible to provide the compulsory insurance to migrant workers is specific to those companies
who have been in business for a minimum of five (5) years and have a minimum of 500 million pesos (approximately US $12.5 Million)
as of the end of the previous years we will have to either acquire or partner with an existing eligible insurance company in the
Philippines. The cost of acquiring an existing insurance company eligible to sell the compulsory insurance may be substantial
and there can be no assurance that we would be able to find an insurance company with which we can partner to offer the insurance
to migrant workers.

 

In addition,
there are insurance companies in the Philippines that have been issuing these types of plans to migrant workers, and which have
established business and name recognition in the Philippines. There can be no assurance that we will be able to gain market share
from the companies who have greater resources and more recognizable names in the Philippines.

 

STAFFING
& FACILITIES

 

We
currently have eight employees and independent contractors. See "MANAGEMENT." Additionally, from the proceeds of the
Offering, we are planning to hire additional employees in the United States and then in the Philippines once we have incorporated
our business subsidiary. Additional other support staff and other personnel will be hired when there is adequate capital available
to do so either through this Offering or from operating revenues.

 

While
we have undertaken preliminary investigations concerning candidates for the above positions and do not currently anticipate significant

    	Table of Contents

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difficulty
in filling such positions with qualified persons at such time as financing permits, we cannot assure you that we will in fact
be able to hire qualified persons for such positions when needed. Additional positions to be filled may be identified from time
to time by the Company. The loss of our Chief Executive Officer Mr. Scott Weissman would likely have a material adverse effect
on the Company. We intend to reduce this risk by obtaining key-man insurance after the Offering, in the event that affordable
insurance coverage may be obtained. We cannot assure you that the Company will be able to obtain such insurance or that the Company
will be successful in recruiting needed personnel.

 

Although
worldwide unemployment rates remain high relative to historical averages, there exists a significant amount of competition for
skilled personnel in the service industries. Nevertheless, we expect to be able to attract and retain such additional employees
as are necessary, commensurate with the anticipated future expansion of our business. Further, we expect to continue to use consultants,
contract labor, attorneys and accountants as necessary.

 

Our
executive offices are located in a 2,200 square foot office located at 2900 North Military Trail, Ste. 107, Boca Raton, FL 33431.
We are also looking to secure additional office and call-center office space in the Philippines ,. As we grow and develop our
business, our facilities and employment-related expenses will likely increase significantly.

 

PLAN OF DISTRIBUTION

 

The
Shares are being offered by the Company on a best-efforts basis by officers and directors of the Company, and potentially by a
registered broker-dealer who is a member of the Financial Industry Regulatory Authority (the “Placement Agent”). The
Company will pay the Placement Agent commissions in cash of up to ten percent (10%) of the subscription price paid by investors,
as well as compensation in the form of securities of the Company. In addition, the Company will also incur legal, due diligence,
travel, and other fees, costs, and expenses pursuant to the engagement of the Placement Agent in connection with this Offering.
The Placement Agent will also be indemnified by the Company in respect of the Offering and the disclosures made in this Memorandum.

    	Table of Contents

    	18

    

USE OF PROCEEDS & PRINCIPAL PURPOSES OF THE OFFERING

 

Legal Life Plans
anticipates that the net proceeds of the Offering will be used primarily to pay direct expenses, offering fees, salaries, consulting
fees, executing its business plan set forth herein relating to Legal Life UT and other general administrative expenses. The precise
amounts that the Company will devote to its programs will vary depending on numerous factors, including but not limited to, the
progress and results of its research and assessments as to the market potential of its program to develop the business.

 

The Company
anticipates that the estimated $9,500,000 gross proceeds from the offering will enable it to fund its operating entity and other
capital needs, including its initial marketing needs. In the event that the offering is not completed, the Company will be required
to seek additional financing for the stabilization phase, as described below. Since there is no minimum amount of the Offering,
the Company may elect to accept a sum which is below what is needed to execute the plan set forth herein. There can be no assurance
that additional financing will be available when needed and, if available, will be on terms acceptable to the Company.

 

The amounts
specified in the “Use of Proceeds” table may vary based on unforeseen factors in the future.

 

Use of Proceeds

 

To execute the Company’s business
plan, an investment of $9,500,000 is required for the following:

 

	 	Maximum
    Offering
	Expenses of Offering(1)	$	1,050,000	 
	Legal, Accounting, and Audit Fees (1-year)	 	200,000	 
	Note Payable (SEE RELATED PARTY TRANSACTIONS)	 	180,000	 
	Sales & Marketing	 	1,000,000	 
	Accrued Past Salaries	 	720,000	 
	Debt Repayment(2)	 	2,950,000	 
	Other Operating Costs/Working Capital (3)	 	3,400,000	 
	Total	$	9,500,000	 

 

Maximum
Offering

 

		(1)	Includes
                                                                                                                              fees
                                                                                                                              to
                                                                                                                              our
                                                                                                                              Placement
                                                                                                                              Agent,
                                                                                                                              legal
                                                                                                                              fees,
                                                                                                                              accounting
                                                                                                                              fees,
                                                                                                                              and
                                                                                                                              other
                                                                                                                              expenses
                                                                                                                              incidental
                                                                                                                              to
                                                                                                                              the
                                                                                                                              Offering.
                                                                                                                              In
                                                                                                                              the
                                                                                                                              event
                                                                                                                              that
                                                                                                                              no
                                                                                                                              Placement
                                                                                                                              Agent
                                                                                                                              is
                                                                                                                              used,
                                                                                                                              then
                                                                                                                              up
                                                                                                                              to
                                                                                                                              $950,000
                                                                                                                              of
                                                                                                                              these
                                                                                                                              Expenses
                                                                                                                              of
                                                                                                                              Offering
                                                                                                                              will
                                                                                                                              be
                                                                                                                              used
                                                                                                                              as
                                                                                                                              Working
                                                                                                                              Capital
                                                                                                                              for
                                                                                                                              the
                                                                                                                              Company.

    	Table of Contents

    	19

    

		(2)	Includes
                                                                                                                              debt
                                                                                                                              incurred
                                                                                                                              to
                                                                                                                              build
                                                                                                                              the
                                                                                                                              Legal
                                                                                                                              Life
                                                                                                                              UT
                                                                                                                              infrastructure
                                                                                                                              and
                                                                                                                              business
                                                                                                                              development
                                                                                                                              in
                                                                                                                              the
                                                                                                                              United
                                                                                                                              States
                                                                                                                              and
                                                                                                                              the
                                                                                                                              migrant
                                                                                                                              worker
                                                                                                                              plan
                                                                                                                              in
                                                                                                                              the
                                                                                                                              Philippines.
                                                                                                                              This
                                                                                                                              figure
                                                                                                                              may
                                                                                                                              change
                                                                                                                              based
                                                                                                                              on
                                                                                                                              the
                                                                                                                              final
                                                                                                                              audit
                                                                                                                              of
                                                                                                                              Legal
                                                                                                                              Life
                                                                                                                              –
                                                                                                                              UT’s
                                                                                                                              books,
                                                                                                                              which
                                                                                                                              is
                                                                                                                              pending.
                                                                                                                              

		(3)	Refers
                                                                                                                              primarily
                                                                                                                              to
                                                                                                                              operating
                                                                                                                              costs
                                                                                                                              of
                                                                                                                              Legal
                                                                                                                              Life
                                                                                                                              UT.

 

 

 

As of the date
of this Memorandum, other than as set forth above, we have not allocated any specific amount of the proceeds for the purposes
listed above and the proportion of monies allocated to the categories above will likely change substantially if the maximum amount
is not raised in this Offering.

    	Table of Contents

    	20

    

MANAGEMENT
& KEY PERSONNEL

 

The
members of the Board of Directors and the executive officers of the Company, including their positions, are expected to be as
follows upon completion of the Reverse Merger:

 

	Chief
    Executive Officer/ President & Chairman	Scott
    Weissman
	Chief Operating Officer/

        Director
	Joseph
    Toro
	Chief
    Financial Officer & Director	Terry
    Kupfer
	VP
    -- Marketing	Rick
    Davie
	VP-
    Migrant Worker Program	Trish
    Xavier
	VP
    -- Sales	Mason
    Benyair
	Director	Farid
    Dallal
	 	 

 

Executive & Key Management
Profiles

 

Scott Weissman - Chairman of
the Board of Directors/Chief Executive Officer & President

 

Mr. Weissman
is a highly motivated individual with 15 years experience in investment banking and asset management. Throughout his career in
the investment industry he has raised money for both public and private emerging growth companies as well as managed the assets
of high net worth individuals in the U.S. and abroad.

 

In addition
to his role as CEO of Legal Life Plans, Inc. (The Company), Mr. Weissman is also the current CEO of Legal Life – UT, and
of Green Light Equity Partners LLC, a Miami based private equity and consulting firm. He is also Chairman and Managing Director
of Tiger Eye Holdings Hong Kong LTD, a real estate holding Company. As of January 1, 2013, Mr. Weissman will have a very limited
role in the day-to-day operations for Green Light and Tiger Eye. However, he will continue to hold the positions noted above in
these companies. For approximately four years beginning in April of 2007, Mr. Weissman acted as President of Law America, Inc.
He also acted as an independent consultant to Law America, Inc., from October 2006 until he became its president. Mr. Weissman
was instrumental in the negotiation of lucrative marketing agreements, raising capital and managing certain day to day operations
for Law America, Inc.

    	Table of Contents

    	21

    

From 1996 to
2006, Mr. Weissman held Series 7 and 63 Licenses and was a registered representative at several investment banks and brokerage
firms in both New York and Florida. In May 2008, Mr. Weissman received a statutory bar from having any association with any FINRA
related firm and ordered to pay restitution and interest to a brokerage customer for being found to have transferred monies from
the customer’s account without authorization to a company in which Mr. Weissman served as president.  Mr. Weissman
was also found to have offered and sold unregistered securities in violation of Section 5 of the Securities Act of 1933.

 

Terry Kupfer – Chief Financial
Officer, Director

 

Effective
January 21, 2013, Mr. Kupfer will begin serving as the Chief Financial Officer and as a Director of the Company. He also serves
Legal Life – UT as its CFO.

 

Mr.
Kupfer was an audit partner and Audit Practice Director – Arthur Anderson LLP, 1970 – 1997, Los Angeles, CA. He was
the engagement partner for audits of both small and large public and private companies. Assignments included Occidental Petroleum
Corporation, Hilton Hotels Corporation, Dillingham Corporation, Getty Oil Company, Wells Fargo Mortgage and Equity Trust, Ameron
Corporation and The Donald L. Bren Company.

 

Principal
industries included real estate, hospitality, manufacturing, oil and gas, business services, and contract construction. As Audit
Practice Director from 1978 to 1996, Mr. Kupfer provided professional practice leadership to Andersen’s offices in Southern
California, Arizona, Nevada, New Mexico and Hawaii. Duties included risk management and assistance to engagement teams in resolving
client accounting and auditing issues. Mr. Kupfer was also Firm-wide industry practice director for real estate, hospitality,
gaming and contract construction.

 

Joseph Toro - Chief Operating
Officer, Director

 

Mr. Toro serves
as the Chief Operating Officer and as a Director of Legal Life – UT, and as a Director of Legal Life Plans, Inc. He has
10 years experience in mortgage banking and financial consulting. He started his career in New York City with Southern Star Mortgage
as a loan officer and was quickly promoted to office manager overseeing 50 mortgage brokers. Mr. Toro has also worked with North
Side Capital, US Mortgage Bankers, South West Capital and Keep Living in Your Home Inc.

 

    	Table of Contents

    	22

    

Mr. Toro's expertise
includes financial preparation and reporting, loan mitigation, commercial and residential loan origination, office management
and training. Mr. Toro achieved a BA at John Jay School of Criminal Justice in New York City.

 

Farid
Dallal
– Director

 

In
addition
to his
role
as a
Director of the
Company,
Mr.
Dallal
is also
a member of
the Board
of Directors
of the
Wellness
Center.
In 2004,
Mr.
Dallal
established
Dallal
Enterprises
Inc.,
a financial
consulting
firm specializing
in sales
and marketing
infrastructure.
In 2009,
Mr.
Dallal
established
the corporation, Keep
Living
In Your
Home
Inc.,
a financial
services
company
specializing
in funding and restructuring residential
and commercial
real
estate.
Within
three
years,
the
company
has been
responsible
for
over $50,000,000
in real
estate
sales
and marketing
initiatives.
Among the multitude of properties acquired by Mr. Dallal’s company, New Beginnings Sober Home, Inc, Mr. Dallal was responsible
for establishing and managing several sober homes which aided in helping the community and bringing new starts to many people
in need. During
this
time,
Mr.
Dallal
has spoken
at numerous
industry
symposiums
and conferences
as a
sales
and marketing
expert.
Mr.
Dallal
attended
Binghamton
University
where
he achieved
a BS
in Business
Management
and a
minor
in MIS.
He also
held
a Series
7 and
63 licenses;
however,
he is
no longer
registered
to work
in the
securities
industry.

 

Rick Davie - VP Marketing

 

Mr. Davie is
a Vice President and Corporate Secretary of Legal Life – UT. He has 10 years experience in sales and marketing. He has worked
with multimillion dollar companies all over the United States providing clients with advice regarding building and mentoring sales
teams, marketing strategies and business development. Mr. Davie achieved a Bachelor of Arts in Photography at Bradford University
as well as an Associate's Degree in Psychology and Sociology at Drake University.

 

Trish Xavier- VP Migrant Worker
Program

 

Ms. Xavier is
a Vice President of Legal Life – UT, and was the CEO of Genesis Home Loans and Realty, Inc., a real estate sales and mortgage
company, from January 2003 to December 2011. She has been the CEO of Genesis since January 2003. Previously, Ms. Xavier was a
loan officer for Conseco Finance/Lehman Brothers in the United States. She has experience with team management, marketing, and
strategic development of companies. Ms. Xavier speaks fluent Spanish, Tagalog, and English.

    	 

    	23

    

Mason Benyair – VP - Sales

 

Mr. Benyair
is a Vice President of Legal Life – UT. He has a unique background including Real Estate Sales and management of commercial
properties, with experience in early mixed digital media, as well as creative finance. He is now a degree candidate at Columbia
University in New York City in Sustainable Development. In the mid-1990’s he was involved in the start up of multiple digital
media companies, with a concentration is sales and marketing.

 

OTHER KEY PERSONNEL

 

David Luther – Administrative
Consultant

 

Mr. Luther is
doing consulting for Legal Life – UT, as well as Legal Life Plans, Inc., and has over 37 years experience managing businesses.
From 2001 to the present, he founded and is President of the Natural Health Solutions Center in Bristol, TN. His company researches
natural health options for enhancing the human body's ability to heal and maintain itself, and offers products for accomplishing
these goals through its website and office location. From 1999 to 2001, Mr. Luther advised Air Products and Chemicals, Inc., of
Allentown, PA, and helped found the Air Products Distributor Advisory Group and Buying Association; helped design an internet
based welding supply division, and advised on the potential merger between Air Products and British Oxygen. From 1975 to 1999,
he served Industrial Gas & Supply Company, first as Vice President for 3 years, then as President. Mr. Luther oversaw the
company's growth from 2 locations to 14, with sales of over $25 Million. He oversaw the sale of the company to a fortune 500 public
company (Air Products & Chemicals) in 1997. He continued as President of the company, operating as a wholly owned subsidiary
of Air Products, until 1999. During his tenure as President of Industrial Gas & Supply Co., he was an active or founding member
of a number of distributor organizations and advisory groups including, British Oxygen Co.’s Distributor Advisory Group,
Miller Electric, Division of Illinois Tool Works, Distributor Advisory Group, The Airco Distributor Association, and others.
Mr. Luther began his career as a Staff Management Consultant with Arthur Andersen’s Management Consulting Group (now
Accenture) from 1974 to 1975. Mr. Luther has a Bachelors of Science Degree in Industrial Engineering from Princeton University
with concentrations in Economics and Corporate Finance.

    	Table of Contents

    	24

    

Marian Ivy F. Reyes-Fajardo -
Chief Legal Counsel and Legal Service Provider for OFW's in the Philippines

 

Marian Ivy F.
Reyes-Fajardo is currently consulting with Legal Life – UT, and is the founder of Reyes-Fajardo & Associates, a highly
respected law firm based in Manila, Philippines. Her areas of expertise include litigation and representation in judicial, quasi-judicial,
legislative or administrative bodies, or other agencies of the government. She also conducts representation in many other adversarial
proceedings, including arbitration, conciliation, mediation and other modes of alternative dispute resolution. Additionally, she
handles foreign investments, joint ventures, mergers and acquisitions, government contracts, and public bidding. Ms. Reyes-Fajardo
also has extensive experience in labor disputes, immigration and customs work. Prior to setting-up her own office, Ms. Reyes-Fajardo
was a partner in the Medialdea Ata Bello & Guevarra Law Offices. Ms. Reyes -Fajardo started her law career in December 2000
with Castillo Laman Tan Pantaleon & San Jose Law Offices.

 

Ms. Reyes -Fajardo
obtained her Bachelor’s Degree in Psychology from the University of the Philippines – Diliman in 1996. She graduated
with honors (cum laude) and was awarded the Presidential Medal for Academic Excellence by said University. Ms. Fajardo obtained
her Law Degree from the Ateneo De Manila University in 2000, as an Ateneo Alumni Scholarship Awardee. She ranked No. 14 of the
Fourth Year Class of 2000 of the Ateneo De Manila University. She also ranked no. 27 in the 2000 Philippine Bar Examinations.

 

Antonio G. Arellano "Attorney
Agga"- Consultant

 

Attorney Agga
is a highly respected Philippine and Hong Kong lawyer who has dedicated most of his practice to helping the OFW's, giving him
the unofficial title of "Lawyer to the OFW's." Since February 1997, Atty. Aga has been giving free legal advice in daily
his radio program, Ito Ang Batas With Atty. Aga on DZXL, a member of the largest radio network in the Philippines, now
known as Radio Mindanao Network (RMN). Due to his increasing popularity among Hong Kong OFW’s, 1528 Smart, a mobile phone
service provider in Hong Kong, has asked Atty. Aga to be its endorser, and has included free legal advice from him in their value-added
service. On Saturdays, Atty. Aga meets with OFW’s on a one-on-one basis for consultation. On Sundays, he gives lectures
and answers all questions raised by the OFW’s. His radio program is also being aired in Hong Kong at Metro

    	Table of Contents

    	25

    

Plus 1044 AM band every Thursday
and Saturday, as well as streamed live on the web. In addition, Attorney Agga writes a regular news column for OFW's in publications
around the world.

 

Management Consultants

 

Company Management
will engage business consultants for the purposes of advising management on specific mission critical business processes or advertising
projects, on an as needed and cost-effective basis.

 

Currently, Legal
Life Plans is in discussions with and plans to retain the services of additional experienced executives to assist the Company’s
transition from its current stage of development to a more robust growth stage. There are no guarantees that we will enter into
any such agreements. The Company plans to fill needed positions with personnel who can assist the Company in:

 

·        
Managing planned organizational changes and expansion with a
systematic approach; 

·        
Articulating the Company’s mission and vision and translating
it in terms of specific focused objectives and paths relating to the Company’s strategic business plan;

·        
Identifying and establishing conditions for a successful change
process, different strategic initiatives and resources.

 

 

 

 

 

 

 

    	Table of Contents

    	26

    

COMPENSATION
OF OFFICERS AND DIRECTORS

 

The following
table sets forth certain information regarding the annual and long-term compensation for services rendered in all capacities during
the fiscal year’s ended May 31, 2011, 2012, and future agreed upon compensation for 2013. Although Legal Life Plans, Inc.
may, in the future, adopt a stock option plan or a stock bonus plan, no such plans currently exist. This compensation table includes
compensation that was and is payable by Legal Life – UT prior to the reverse merger, as well as compensation that would
be payable by the Company, once the merger has taken place.

 

Summary Compensation Table

	 

        Annual Compensation
	 	 
	 

        Name and 

        Principal Position
	 

         

        Year
	 

         

        Salary
	 

         

        Bonus
	Securities

        Underlying

        Options
	 

        All Other

        Compensation

	 

        Scott Weissman
	 

        2013
	 

        $ 250,000
	 	 

        $ 0
	 

        $ 0

	President,
    Chairman,, & Secretary	2012

        2011
	$ 250,000

        $ 167,000
	 	$ 0

        $ 0
	$ 0

        $ 0

	 

        Joe Toro
	 

        2013
	 

        $ 100,000
	 	 

        $ 0
	 

        $ 0

	Chief
    Operating Officer, Director	2012

        2011
	$ 0

        $ 0
	 	$ 0

        $ 0
	$ 0

        $ 0

	 

        Terry Kupfer
	 

        2013
	 

        $ 25,000
	 	 

        $ 0
	 

        $ 0

	Chief
    Financial Officer, Director	2012

        2011
	$ 0

        $ 0
	 	$ 0

        $ 0
	$ 0

        $ 0

	 

        Rick Davie
	 

        2013
	 

        $ 75,000
	 	 

        $ 0
	 

        $ 0

	VP-
    Sales & Marketing	2012

        2011
	$ 25,000

        $ 0
	 	$ 0

        $ 0
	$ 0

        $ 0

	 

        Trish Xavier
	 

        2013
	 

        $ 60,000
	 	 

        $ 0
	 

        $ 0

	VP-Migrant
    Workers Program	2012

        2011
	$ 0

        $ 0
	 	$ 0

        $ 0
	$ 0

        $ 0

	 

        Mason Benyair
	 

        2013
	 

        $ 65,000
	 	 	 
	VP-Sales	2012

        2011
	$ 0

        $ 0
	 	 	 

 

(1)
Does not include the fair value of any shares of common or preferred stock received. See “CERTAIN TRANSACTIONS”
below for a description of share compensation to our directors and executive officers.

 

 

    	Table of Contents

    	27

    

Directors’
Fees

 

From
time to time, our board members have received stock compensation for their services. We do not regularly compensate our directors
with cash in respect of their capacities as members of the Board, although we may do so in the future. Following the completion
of this Offering and in contemplation of qualifying the Company to seek a listing on the American Stock Exchange or NASDAQ, we
intend to appoint independent directors who will be compensated for their service in accordance with industry standards for small
publicly traded service companies.

 

CONFLICTS
OF INTEREST

 

The Company
is subject to various conflicts of interest arising out of its relationship with the officers, directors, employees or other agents
of the Company. Such conflicts include but are not limited to the following:

·        
The officers, directors, employees, shareholders, note holders
or other agents of the Company may purchase stock.

·        
The officers, directors, shareholders, note holders, employees
or agents of the Company are currently debt holders and shareholders of the Company and may purchase any number of shares of stock
in this offering for their own account. In fact, current shareholders of the Company will have the right to purchase such number
of shares of the stock prior to offering the stock to third parties. Therefore, you should not expect that the sale of any amount
of the stock indicates that such sales have been made to investors who have no financial or other interest in the offering, or
who otherwise are exercising independent investment discretion.

·        
Because purchases by officers, directors, shareholders, note
holders, employees or other agents of the Company may be substantial, no individual investor should place any reliance on the
sale of shares of the stock as an indication of the merits of this offering. You must make your own investment decision as to
the merits of this offering. In addition, such persons may exercise any voting rights relating to the stock favorable to them
and adverse to the remaining shareholders.

 

The officers,
directors or agents of the Company may provide services to the Company. The directors or agents of the Company or their affiliates
to are not prohibited from providing services to, and otherwise doing business with the Company.

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    	28

    

Determination and receipt of
compensation:

 

Management and
its affiliates will receive certain compensation from the Company regardless of the profitability of the Company. Management may
also retain a net profit interest in the Company. These compensation arrangements have not been determined on the basis of arm’s
length negotiations between independent parties. Management believes the Company’s compensation arrangements, in light of
the evaluation, acquisition, and management services performed by Management and its affiliates are comparable to or more favorable
than the compensation which would be paid to unaffiliated parties for comparable services.

 

Lack of Representation

 

Legal counsel
for Management will not represent the Company or the Share holders. Each investor should accordingly consult with and rely on
his own counsel regarding any investment in the Shares. Should a dispute arise between the Company and the Share holders or Management,
Management will cause the Company to retain separate counsel for such matters.

 

Legal Life Plans relationship
with Green Light Equity Partners LLC

 

Legal Life Plans
may enter into agreements with Green Light Equity Partners LLC, a company in which Scott Weissman, our Chief Executive Officer,
as well as some of the other shareholders of Legal Life Plans, has an equity interest. Green Light may be paid for certain services
as well as receive revenue share from services, including marketing and consulting. Mr. Weissman, as well as certain shareholders
of Legal Life Plans, may benefit from that relationship beyond the scope of this memorandum.

 

CERTAIN TRANSACTIONS

 

The management
of the Company may enter into agreements with certain individuals, including shareholders of the Company, for prior transactions
which are not associated with Legal Life Plans.

 

During
March 2012, we entered into a contract to purchase all of the shares of Legal Life Plans - UT in exchange for 91,000,000 shares
of common stock, 1,000,000 shares of series A preferred stock, and 18,000,000 shares of series B preferred stock of the Company.
The contract to purchase Legal Life Plans - UT has not yet closed, but we anticipate finalization of the transaction soon. We
have included the issuance of all the shares in this Memorandum as if they have already been issued. (see CAPITALIZATION)

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    	29

    

Migrant Worker Program

 

The Company
plans on creating wholly-owned subsidiaries in Asia for operating the migrant worker program. Certain shareholders including principals
of the Company may receive a revenue share for their assistance with the migrant worker business development in the Philippines.

 

Directors and
Officers Liability Insurance

 

We
do not have a directors and officers liability insurance policy. In the future, as we grow and develop the Company, we may secure
such a policy with a face value deemed reasonable under the circumstances by our Board of Directors.

 

Life Insurance

 

We
do not carry any insurance policy covering the life of any officer, director or key employee. Following completion of this Offering,
assuming that reasonable rates may be obtained, we intend to secure a key-man life insurance policy covering the life of Mr. Weissman
with a face amount of not less than $5 million.

 

RELATED PARTY
TRANSACTIONS

 

Transactions
Between David Luther and Scott Weissman

 

David Luther
has made a series of loans to our CEO, Scott Weissman and Legal Life Plans- UT, to develop the business of Legal Life Plans -
UT.  As of December 31, 2012, the total principal amount of these loans from Mr. Luther, together with interest and fees
as accrued, is $2,725,000.  For these loans, which are represented by various promissory notes (hereafter collectively, the
“Notes”) issued by Mr. Weissman, the Company anticipates that it will assume these notes as part of the tranasction
with Legal Life Plans - UT.  In effect, Mr. Weissman will be assigning his right of recovery to Mr. Luther for the expenses
incurred by Mr. Weissman in the development of Legal Life Plans - UT. Accordingly, the Company intends to use a portion of the
proceeds of this Offering to repay the loans and retire the Notes.  (see USE OF PROCEEDS)

 

Mr. Luther has
received pledge and security agreements from Scott Weissman, Farid Dallal and Joseph Toro.  Each of these individuals will
deposit and pledge their respective Legal Life Plans common stock and Series

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    	30

    

A Preferred stock into escrow, once
issued, until the Notes are repaid by the Company as described above. These shares may also act as collateral for other debts
that these individuals may owe to Luther, as well. 

 

In connection
with the loans and the Notes issued pursuant thereto, David Luther has entered into a series of agreements with Scott Weissman
which require, at Mr. Luther’s option, Mr. Weissman to purchase up to a maximum of Twenty Four Million Six Hundred Eighty
Thousand (24,680,000) of Mr. Luther’s shares of common stock, once issued, (the “Put Shares”) at a price of
$3.00 per share.   These shares may be sold anytime within a two year window starting three years from the date of each
agreement.   The earliest that Luther may put any shares to Weissman under these agreements is May 1, 2013. 

 

Mr. Luther has
also granted Mr. Weissman the right and option to acquire up to Twelve Million, Three Hundred-Forty Thousand (12,340,000) of Mr.
Luther’s shares (the “Call Shares”) at a price of $5.00 per share. Mr. Weissman’s Options are exercisable
up to three years from the initiation of each agreement, but not later than March 17, 2014.

 

Other Related
Party Transactions

 

During 2011,
David Luther paid $180,000 for 360,000 shares of common stock of the Company.  On March 12, 2012, Mr. Luther and the Company
agreed to exchange these 360,000 shares of common stock of the Company for a demand promissory note with a principal value of
$180,000 and interest equal to ten percent (10%) per annum.

 

OMWP Consulting
Limited (OMWP), Hong Kong limited company, owned by Green Light Equity Partners, David Luther, Terrence Kupfer, Robert Vance,
Farid Dallal, Kenneth Fowler, Ronald Spata fbo Elite Electric Inc, Scott Valone, Tim McPhee and William Ponseti are entitled to
receive up to Two Dollars and Fifty Cents ($2.50) per member per month based on a retail price of Nine Dollars and Ninety-Nine
Cents ($9.99) for all members enrolled in a Migrant Workers Program Plan expected to be administered by the Company.  These
fees are associated with an ongoing consulting contract between OMWP and the Company.

 

Litigation

 

The Company
currently has no litigation pending, threatened or contemplated, or unsatisfied judgments. Management has been informed of certain
unauthorized transactions regarding purported sales of Legal Life

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    	31

    

Plans Common Stock, which transactions
have now been reversed.  In conjunction with this, we have also learned that someone who was not authorized by the Company
allegedly may have induced an investor to wire him money on a promise to receive shares of our Common Stock.  We are in the
process of investigating this claim.  We were not a party to this, did not receive any proceeds from this alleged incident,
and the alleged investor has not provided us with any documentation that would indicate that shares of Legal Life Plans were involved. 
We are told the amount in dispute is $100,000.  We are in the process of contacting the authorities and regulatory bodies
to let them know what has transpired, to our knowledge, and to assist in any way possible. 

 

    	Table of Contents

    	32

    

CAPITALIZATION

 

The
following table sets forth the capitalization of the Company immediately prior to the Offering, including the share issuances
associated with the acquisition of Legal Life-UT, assuming such transaction has closed, (see CERTAIN TRANSACTIONS), and
assuming that the maximum number of Shares are sold in the Offering:

 

	Legal
    Life Plans, Inc.
	Total
    Shares of Common Stock Authorized	500,000,000
	Total
    Shares of Preferred Stock Authorized	20,000,000
	Total
    Shares Common Stock Outstanding	77,071,419
	Total
    Shares Series A Preferred Stock Outstanding	1,020,000
	Total
    Shares Series B Preferred Stock Outstanding	18,000,000
	Total
    Shares Assuming the Success of this Offering	134,091,419

 

BENEFICIAL
OWNERSHIP OF EXECUTIVE OFFICERS & DIRECTORS

	 

        Name
        of Shareholder
	 

        Number
        of Shares

        Currently
        Owned(1)
	Percentage
                                                                                                                                              

        Prior
        to Offering(2)
	Percentage
    After Maximum Offering(3)
	Scott
                                                                                             Weissman(4)

        
	43,500,000	45.3%	32.4%
	Joseph
                                                                                             Toro(5)

         
	25,000,000	26.0%	18.6%
	Farid
    Dallal(6)	500,000	0.5%	0.4%
	Trish
    Xavier(7)	300,000	0.3%	0.2%
	Rick
    Davie(7)	300,000	0.3%	0.2%
	Mason
    Benyair(7)	300,000	0.3%	0.2%
	Misc.
    Shareholders(8)	26,191,419	27.3%	19.5%
	Investors
    Participating in this Offering(9)	38,000,000	0	28.3%
	Officers
    & Directors as a Group            (6 Persons)	69,900,000	72.7%	 
    52.1%
	 	 	 	 

(1)      
The calculation of the number of shares beneficially owned by
each person in the table above is based upon the number of shares of common and preferred stock, options, warrants, and other
instruments convertible into Shares of the Company held directly by such person or through one or more intermediaries.

(2)      
The calculation of percentage ownership of each person in the
table above prior to the Offering is based upon the number of shares of common or preferred stock beneficially owned by such person,
together with any options, warrants, notes or other instruments held by such person which are convertible into stock, divided
by 96,091,419, which is the total number of outstanding shares (assuming the closing of the transaction with Legal Life-UT) of
common and preferred stock of the Company as of December 2012. 

(3)      
The calculation of percentage ownership for each person in the
table above after completion of the maximum Offering is based upon the number of Shares beneficially owned by such person, together
with any options, warrants, notes or other instruments held by such person which are convertible into shares of common or 

    	Table of Contents

    	33

    

 

preferred
stock, divided by 134,091,419, which is the total number of shares of common and preferred stock of the Company and any securities
convertible into stock, and assuming the issuance of the maximum number of Shares in this Offering. The calculation also assumes
that none of the Company’s officers, directors, or principal shareholders will participate in the Offering.

(4)      
Chief Executive Officer and Chairman of the Company. Includes
25,000,000 Shares of Common Stock and 500,000 shares of Series A Preferred Stock with 2,000 votes per share, which are not convertible
into Common Stock, all of which are scheduled to be issued to Mr. Weissman upon the closing of the Legal Life-UT acquisition,
and which will be held directly. Mr. Weissman also owns 18,000,000 shares of Series B Preferred Stock which are not convertible
without board of director approval and which have no voting rights. These shares will also be issued upon the closing of the Legal
Life- UT acquisition.

(5)      
Chief Operating Officer and Director of the Company. Includes
25,000,000 shares of Common Stock which will be issued upon the closing of the LLP-UT acquisition.

(6)      
Director. Includes 500,000 shares of Series A Preferred Stock
with 2,000 votes per share and is not convertible into Common Stock.

(7)  
Vice-Presidents- Ms. Xavier, Mr. Davie and Mr. Benyair are to
receive an aggregate of 300,000 shares of Common Stock of the Company. Pursuant to their employment agreements, the Company has
the option to repurchase 200,000 of these shares during the first two years of employment. 20,000 shares vest immediately upon
commencement of employment, and 80,000 shares vest on the first employment anniversary date.

(8)  
Immediately prior to the closing of the transaction with Legal
Life–UT, the Company has (a) 171,419 shares of common stock outstanding, plus the obligation to issue 360,000 additional
shares of common stock to David Luther, which have been paid for but not yet issued, and (b) 20,000 shares of Series A Preferred
Stock which have been awarded to Luther by the Board of Directors pursuant to a consulting agreement with Luther, but which have
not yet been issued. Miscellaneous shareholders, including Luther, will hold an aggregate
of 26,171,419 shares of Common Stock upon the closing of the Legal Life-UT acquisition. Figures and calculations in this table
do not reflect: (i) The 360,000 Common Shares due Luther, as they are scheduled to be repurchased
by the company upon the completion of the merger, (ii) 36,850 shares of common stock that may issued upon the exercise
of Warrants at $50 per share, and (iii) an aggregate of 15 Million shares of common stock set forth in the agreement between the
Company and Legal Life–UT that Legal Life–UT has determined are not deemed outstanding or issuable. It is possible
that such determination may be challenged and such shares may ultimately have to be issued. 

(9)      
Assumes that investors will purchase the maximum number of Shares
issuable in the Offering. 

 

DESCRIPTION
OF CAPITAL STOCK AND CONVERTIBLE SECURITIES

 

Common Stock

 

The
Company is authorized to issue 500,000,000 shares of common stock $.001 par value. 77,071,419 shares
of common stock will be the total issued and outstanding upon the closing of the Legal Life-UT acquisition. All of our outstanding
shares of common stock will be fully paid and non-assessable. Each share of common stock is entitled to one vote. The holders
of shares of common stock are entitled to receive dividends on a pro rata basis if and when declared by the Company's Board of
Directors. The Company has never paid a dividend and does not anticipate doing so in the near future. Each Share is entitled to
share ratably in any assets available for distribution to holders of equity securities upon the liquidation of the Company.

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Series A
Preferred Stock 

 

The
Company is authorized to issue 20,000,000 shares of preferred stock $.001 par value. 1,020,000 shares of series A preferred stock
will be the total issued and outstanding upon the closing of the Legal Life-UT acquisition. 500,000 shares of these series A preferred
stock will be held by our Chief Executive Officer, Scott Weissman. 500,000 of these shares of series A preferred stock will be
held by Farid Dallal, who is a Director of the Company. 20,000 shares will be held by David Luther, who has been a consultant
to the company. All of our outstanding shares of series A preferred stock will be fully paid and non-assessable. Each share of
series A preferred stock is entitled to 2,000 votes. The series A shares shall entitle the holders the right to vote, either together
with holders of the Company’s common stock, or as a separate class of shares, on any matter upon which the shareholders
of common stock of the Company may vote, including but not limited to any resolutions purporting to vary any of their rights or
create any class of capital stock ranking in priority to them or effect any reorganization which would disadvantage the Shares
relative to the shares of the Company’s common stock. In the event of any liquidation, dissolution, or winding up of the
Corporation, either voluntary or involuntary, the holder(s) of the series A shares shall not be entitled to receive any of the
assets of the Company. Holders of series A shares are not entitled to receive dividends, whether in cash, property, or in securities
of the Company, and are not able to convert such series A preferred stock into the Company’s common stock.

 

Series B
Preferred Stock

 

The
Company is authorized to issue 20,000,000 shares of preferred stock $.001 par value. 18,000,000 shares of series B preferred stock
will issued and outstanding upon the closing of the Legal Life-UT acquisition and held by our Chief Executive Officer, Scott Weissman.
All of our outstanding shares of series B preferred stock will be fully paid and non-assessable. Each share of series B preferred
stock is entitled to 0 votes. The series B shares shall not entitle the holders the right to vote, either together with holders
of the Company’s common stock, or as a separate class of shares, on any matter upon which the shareholders of common stock
of the Company may vote. In the event of any liquidation, dissolution, or winding up of the Corporation, either voluntary or involuntary,
the holder(s) of the series B shares shall not be entitled to receive any of the assets of the Company. Holders of series B shares
are not entitled to receive dividends, whether in cash, property, or in securities of the Company, and may only convert such series
B preferred stock into the Company’s common stock with approval from the board of directors of the Company.

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TERMS
OF THE OFFERING

 

Generally.
We are offering a maximum of 38,000,000 Shares in this Offering. The maximum amount of Shares available for sale in this Offering
represents 28.3% of the Company’s capital stock outstanding on a fully-diluted basis.

 

Offering
Not Exclusive. The Shares offered hereby are not the exclusive means by which the Company may issue its securities in exchange
for cash, property, services, forgiveness of debt, or otherwise and any such issuances may likely be made on terms and conditions
substantially more favorable than the terms of this Offering.

 

Description
of Shares. Each Share is entitled to one vote. The holders of Shares are entitled to receive dividends on a pro rata basis
if and when declared by the Company's Board of Directors. The Company has never paid a dividend and does not anticipate doing
so in the near future. Each Share is entitled to share ratably in any assets available for distribution to holders of equity securities
upon the liquidation of the Company.

 

Accredited
or Non-U.S. Investors Only. A purchase of the Shares involves significant risks and is suitable for certain investors only.
Investors should consult with their own legal counsel, accountant, business advisor and/or purchaser representative concerning
the suitability of purchase of the Shares. The Company has adopted minimum suitability standards limiting the sale of the Shares
only to investors who are either (i) “accredited investors” as defined pursuant to Rule 501 of Regulation D under
the Securities Act of 1933 (“Securities Act”), or (ii) not “U.S. Persons” as defined Pursuant to Rule
903 of Regulation S under the Securities Act. This standard represents a minimum requirement for investors and does not necessarily
mean that the Shares are a suitable investment for any investor simply because such investor may meet this requirement.

 

Minimum Investment.
There is no minimum investment. After payment of expenses of the Offering and commissions to placing agents, the remaining
proceeds from sale of the Shares will inure to the benefit of the Company. Management anticipates that such expenses and commissions
will, collectively, not exceed $1,050,000.

 

Required
Representations. The Shares are being offered pursuant to an exemption from U.S. federal registration contained in Section
4(2) of the Securities Act and Rule 903 of Regulation S under the Securities Act. To assure compliance with the requirements of
this exemption, investors may be

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required to furnish certain information
to Legal Life Plans and to make certain representations and warranties to Legal Life Plans as to their domicile, net worth and
taxable income. Prior to purchasing the Shares, investors will also be required to represent and warrant to Legal Life Plans that
they possess such financial resources that they can satisfactorily bear the economic risks of the proposed investment for an indefinite
period of time and that they can afford a complete loss of such investment. Investors further will be required to warrant to Legal
Life Plans that their intent is to purchase the Shares solely for their own account, for investment purposes only, and not with
a view toward their immediate resale or further distribution. Finally, each investor will be required specifically to (i) acknowledge
receipt of this Memorandum, (ii) represent their conformance to the investor suitability standards required to purchase the Shares,
and (iii) acknowledge their recognition of the risks involved in purchasing the Shares.

 

Subscription
Agreement. Investors participating in this Offering will be required to execute the attached Subscription Agreement. The Subscription
Agreement, together with a wire transfer, certified check, bank cashier’s check, money order, or a personal check for the
appropriate amount of money as set forth in the Subscription Agreement must be tendered to Legal Life Plans prior to acceptance
by Legal Life Plans.

 

RISK
FACTORS

 

This
Memorandum contains predictions, projections and other statements that are not statements of historical fact and are intended
to be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (collectively,
“Forward Looking Statements”). Forward Looking Statements are included with respect to various aspects of the Company's
strategy and operations, including but not limited to product development efforts, revenue sources and the Company's liquidity
and profitability. Without limiting the foregoing, the words “believe,” “anticipate,” “plan,”
“expect,” “estimate,” “intend” and other words of similar import are intended to identify
Forward Looking Statements. In light of the significant uncertainties inherent in the Forward Looking Statements included herein,
the inclusion of such information should not be regarded as a representation or warranty by the Company or any other person that
the objectives and plans of the Company will be achieved in any specific time frame or at all. Prospective investors in the Company
should be aware that there can be no assurance of any return and that this investment involves a significant degree of risk. Prospective
investors should consider, among others, the risk factors discussed below in addition to the other information set forth herein
or incorporated herein by reference.

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Risks Relating to Our Company

 

Transaction with Legal Life –
UT has not Closed

 

The business
description herein is that of Legal Life –UT. In the event we are unable to close the transaction with Legal Life –
UT then the Company will not have operations and will continue to be deemed a Shell company (as described herein). There is no
guarantee that we will be able to close this transaction or if we do, that Legal Life –UT will be a successful business.
The Company may elect to accept proceeds from this Offering and the aforementioned transaction might not close. In this case the
proceeds may be used for investing in other opportunities identified by the Board of Directors.

 

Limited Operating History

 

Legal Life -
UT has a limited operating history upon which an evaluation of the Company and its prospects may be based. We may encounter unforeseen
difficulties and obstacles, including unanticipated costs, revenue growth that is slower than anticipated, and a slow acceptance
by the market of our services and products. There can be no assurance that the Company will sustain profitability. The likelihood
that the Company will succeed must be considered in light of the problems, expenses, and delays frequently encountered in connection
with the development and growth of new businesses, as well as many other factors. Information regarding the Company's prior performance
history is disclosed in this document and may not continue in the future. There is no assurance that prior results and growth
rates will continue in the future.

 

Lack of
Audit – Unaudited Financial Statements

 

We
do not currently have any audited financial statements of Legal Life –UT for investors to review. The Company will be required
to obtain audited financial statements before it can close the transaction to merge with Legal Life -UT. There is no guarantee
that this audit will be completed in a timely basis or at all.

 

Since
we are a relatively new business, investors have no basis to evaluate our ability to operate profitably. Our shell company
was originally organized in 1991 and has had no revenues from operations since our inception. As a small company, we face all
of the risks commonly encountered by other new businesses, including the lack of an established operating history, need for additional
capital and personnel, and intense competition. We cannot assure you that our business plan will be successful.

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We
are dependent upon receipt of additional working capital to fund our business plan. Our working capital at December 1,
2012 was insufficient to fund our business plan. We will require additional capital to continue our business operations. We will
need to obtain additional financing from outside sources within the next 12 months in order to continue to fund our business needs.
There is no assurance that funds will be available from any source or, if available, that they can be obtained on terms acceptable
to us. If we are unsuccessful in addressing these needs, we may cease our business activities. As a result, investors may lose
all or a part of their investment.

 

Governmental
laws and regulations may add to our costs or limit our activities. Our operations are affected from time to time in varying degrees
by governmental laws and regulations. We may be required to make significant capital expenditures to comply with governmental
laws and regulations. It is also possible that these laws and regulations may in the future add significantly to our operating
costs or may significantly limit our activities. Legal Life Plans is subject to extensive and varied federal, state and local
government regulation, including regulations relating to legal service plan insurance product offerings, including marketing and
distribution thereof. Legal Life Plans operates its business in accordance with standards and procedures designed to comply with
applicable insurance codes and regulations, including but not limited to state insurance laws and codes governing the offering
and distribution of legal services plans to individuals and/or employers in applicable regulatory jurisdictions. However, if Legal
Life Plans could not obtain, retain or replace applicable insurance underwriting and marketing contracts, insurance and/or agency
licenses, bonds and/or permissions it would adversely affect Legal Life Plans’ operations and/or its ability to market or
expand its products and services in certain regulated jurisdictions. Legal Life Plans may experience significant difficulties,
delays or failures in obtaining required insurance underwriting contracts, licenses, permits or approvals in connection with the
offering and distribution of its legal service plans in insurance regulated jurisdictions, and any such problems could delay or
prevent the offering and/or distribution of its legal services plans within such insurance regulated jurisdictions.

 

Our
operations and resources are not diversified. Our limited financial resources limit our ability to diversify our operations.
The inability to diversify activities into more than one area will subject us to economic fluctuations within a particular business
or industry and therefore increase the risks associated with our operations.

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We
depend heavily upon our management. We are heavily dependent upon the skills, talents, and abilities of our management
team to implement our business plan. The loss of the services of one of our executive officers would have a material adverse effect
upon our business and financial condition.

 

We
depend heavily upon outside advisors. To supplement the business experience of our employees, we employ accountants, technical
experts, appraisers, attorneys, or other consultants or advisors. The selection of any such advisors will be made by us without
any input from stockholders. Furthermore, it is anticipated that such persons may be engaged on an “as needed” basis
without a continuing fiduciary or other obligation to us or the shareholders. In the event we consider it necessary to hire outside
advisors, we may elect to hire persons who are affiliates, if they are able to provide the required services.

 

While
we presently believe that we have adequate internal controls over financial reporting, we will be required to evaluate our internal
controls under Section 404 of the Sarbanes-Oxley Act of 2002 annually and any adverse results from such evaluation could result
in a loss of investor confidence in our financial reports and have a material adverse effect on the price of our Shares.
Pursuant to Section 404 of the Sarbanes-Oxley Act of 2002, we have furnished a report by our management on internal controls for
the fiscal year ended May 31, 2011. Such a report contains, among other matters, our assessment of the effectiveness of our internal
controls over financial reporting, including a statement as to whether or not our internal controls are effective. This assessment
must include disclosure of any material weakness in our internal controls over financial reporting identified by our management.
While we believe our internal controls over financial reporting are effective as of the date of this report, there is no assurance
that we can retain that control in the future, as our business expands. In addition, our evaluation of the effectiveness of our
internal controls will be subject to audit by our independent registered accountants in the future and there is no assurance that
they will agree with our assessment. If we are unable to maintain the effectiveness of our controls, or if our accountants do
not agree with our assessment in the future, investors could lose confidence in our financial reports and our stock price may
decline.

 

Because
we do not have an audit or compensation committee, shareholders will have to rely on our Board of Directors, a member of which
is also an executive officer and as such is not “independent” as 

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defined
by a national securities exchange, to perform these functions. We do not have an audit or compensation committee. These
functions are performed by our Board of Directors as a whole and Four of the members of our Board do not meet the definition of
“independent” under the rules of any national securities exchange. Since our current Board members include members
of management, there is a potential conflict where this individual participates in discussions concerning management compensation
and audit issues that may affect management decisions.

 

We
provide for indemnification of officers and directors. The General Corporation Laws of the State of Delaware, provides
for the indemnification of directors, officers, employees, and agents, under certain circumstances, against attorney’s fees
and other expenses incurred by them in any litigation to which they become a party from their association with or activities on
our behalf. We will also bear the expenses of such litigation for any of our directors, officers employees, or agents, upon such
person’s promise to repay the Company therefore if it is ultimately determined that any such person shall not have been
entitled to indemnification. This indemnification policy could result in substantial expenditures by us.

 

The
liability of our directors and officers is limited. The General Corporation Laws of the State of Delaware , exclude personal
liability of directors and officers for monetary damages for breach of fiduciary duty except in certain specified circumstances.
Accordingly, we will have a much more limited right of action against our directors and officers than otherwise would be the case.
This provision does not affect the liability of any directors or officers under federal of applicable state securities laws.

 

Our
business is speculative. The legal services industry is extremely competitive and the commercial success of any venture
is often dependent on factors beyond the control of the Company. The Company may incur uninsured losses for liabilities which
arise in the ordinary course of industry, or which are unforeseen. We cannot assure you that you will not lose your entire investment
in the Company

 

We have
no insurance underwriter. In thirty three (33) states and the District of Columbia, Legal Life Plans’ legal services
plans are regulated as an insurance product, thereby requiring the Company to work with an insurance company partner to offer
its legal services plans in such jurisdictions. At this time Legal Life Plans, Inc does not have a partner through which it can
offer its services in such jurisdictions. Although the company believes it should be able to attract an underwriter for its legal

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plans, there is no guarantee that
the company will be able to enter into an agreement with an insurance company partner, thereby decreasing the company’s
ability to market its plan for the United States.

 

We are
a development stage business and lack operating history. Legal Life Plans, Inc. is a new company with no operating history
upon which an investor can evaluate its performance or its potential for success. The Company’s proposed business is subject
to all business risks associated with new or early stage enterprises and its operations are subject to all of the risks inherent
in the expansion of an early-stage business enterprise, including higher-than-expected expenses and uncertain revenues. The likelihood
of the business’s success must be considered in light of the problems, expenses, difficulties, complications, and delays,
frequently encountered in connection with new enterprises operating in a highly competitive industry. Legal Life Plans has had
no profits to date, and there can be no assurance of future profits. As a result of the expansion stage nature of Legal Life Plans’
business and the fact that it will incur significant expenses in connection with its activities, Legal Life Plans can be expected
to sustain operating losses for the foreseeable future. There can be no assurance that the company will operate profitably.

 

We have
numerous competitive risks. Legal Life Plans will have to compete with some established and large, well-capitalized competitors.
As a result, the Company may not be able to effectively capture the business of its target market, including but not limited to
certain large and small employers and/or individual consumers. The legal cost reimbursement insurance industry and the related
voluntary employee and consumer benefits business are both intensely competitive. While Legal Life Plans believes its products
and services are sufficiently different from those of its competitors, the Company will be required to compete with national and
regional service providers and with independent distributors of such service providers for market share, access to desirable distribution
channels and recruitment of personnel. Legal Life Plans’ competitors have existed longer and have a more established market
presence with substantially greater financial, marketing, personnel and other resources, than Legal Life Plans. No assurances
can be given that Legal Life Plans will have the financial resources, distribution ability, and depth of key personnel or marketing
expertise, to compete successfully in these markets.

 

We have
intellectual property risks. Legal Life Plans is applying for certain common law trademark rights registrations. The Company
believes that its trademarks and other proprietary rights are important to its success and its competitive position. Legal Life
Plans therefore devotes appropriate

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resources to the protection of its
trademarks and proprietary rights. The protective actions that Legal Life Plans takes or elects not to take, however, may not
be enough to prevent unauthorized usage or imitation by others, which may cause Legal Life Plans to incur significant litigation
costs and could harm its image or its brand or competitive position. To date, Legal Life Plans has not been notified that its
trademarks or menu offerings infringe upon the proprietary rights of third parties, but Legal Life Plans cannot assure you that
third parties will not claim infringement by it. Any such claim, whether or not it has merit, could be time-consuming, result
in costly litigation, cause product delays or require Legal Life Plans to enter into royalty or licensing agreements. As a result,
any such claim could have a material adverse effect on Legal Life Plans’ business, results of operations and financial condition.

 

We
may not get approval from the Philippines Insurance Commission. Our migrant worker program may be regulated by Republic Act
No. 9829, the Pre- Need Code of the Philippines (“Pre-Need Code”).  In the event that the Company's migrant worker
program is regulated by the Pre-Need Code, we would need to obtain a license to sell or offer our pre-need plan.  We would
be required to apply for an endorsement from the Licensing Division of the Insurance Commission in the Philippines, submit documentation,
and we would need to have paid-in capital of at least US $2,222,222.  It is not certain that we will receive approval for
our license from the Insurance Commission.

 

In addition,
there is newly enacted legislation amending the Migrant Workers Act in the Philippines which requires that all manpower agencies
provide certain types of compulsory insurance to all of their OFW’s. This amendment also sets certain guidelines for the
insurance companies which sell the compulsory insurance. In particular, these companies must have been in business for a minimum
of Five (5) years and have a net worth of the equivalent of approximately $14,000,000 USD. If our plans are deemed compulsory
insurance then we would be forced to partner with or purchase a Philippine Company that meets the guidelines stated above. There
can be no assurance that we would be able to establish a partnership with or purchase a qualified Philippine Company or that such
purchase would be on terms that would be potentially profitable for the company.

 

We may not
be able to comply with Insurance Guidelines. The Insurance Commission, the Department of Labor and Employment, and the National
Labor Relations Commission in the Philippines have adopted certain Insurance Guidelines that directly affect our business. As
noted, all migrant workers that have a recruitment agency must receive insurance from their recruitment agencies at no cost to
the migrant worker. This required

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insurance is to cover basic life
insurance, accidental death, disability, and in case of injury or illness, visits by family, and repatriation, if necessary. The
Legal Insurance offered by Legal Life Plans is not currently required under the law, but may be sold as part of the insurance
package.

 

In addition,
there are insurance companies in the Philippines that have been issuing these types of plans to migrant workers, and which have
established business and name recognition in the Philippines. There can be no assurance that we will be able to gain market share
from the companies who have greater resources and more recognizable names in the Philippines.

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Risks Related
to the Offering and Our Shares

 

Investing
in the company is a highly speculative investment and could result in the loss of your entire investment.

 

A
purchase of the Shares is significantly speculative and involves significant risks.  The Shares should not be purchased by
any person who cannot afford the loss of his or her entire purchase price.  The business objectives of the Company are also
speculative, and we may be unable to satisfy those objectives.  The stockholders of the Company may be unable to realize
a substantial return on their purchase of the Shares, or any return whatsoever, and may lose their entire investment in the Company.
 For this reason, each prospective purchaser of the Shares should read this Memorandum and all of its exhibits carefully
and consult with their attorney, business advisor and/or investment advisor.

 

We are
not required to raise a minimum amount in this Offering. We do not have a minimum amount we must raise in order to accept
proceeds in this offering. We may only raise a minimum of capital, which would leave us with insufficient capital to implement
our business plan, which may result in a complete loss of your investment in the Company unless we are able to raise the required
capital from alternative sources. We cannot assure you that alternative capital or financing would be available.

 

This
is a best efforts, any-and-all offering.

 

The Shares are
being offered on a “best efforts-any and all” basis. There is no minimum dollar amount of the Shares which is required
to be sold in this Offering before the Company may use the proceeds. Funds tendered by prospective purchasers will not be placed
in escrow, but will be available for use by the Company immediately upon acceptance, for the purposes and in the amounts as estimated
in this Memorandum. Lack of an escrow arrangement could cause some risk to the initial investors in the event that insufficient
capital is raised in the offering. No person has agreed to purchase any of the Shares offered hereby. No assurance can be given
that all, or even a substantial portion, of the Shares will be sold in this Offering. Each investor's subscription may be closed
as received and approved. If only a small number of Shares are sold, the Company's ability to accomplish its business objectives
could be materially and adversely affected. See “Use of Proceeds.”

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If the Company fails to raise
adequate funds in this Offering, it will require additional capital in order to implement its business strategy.

 

The Company is conducting this Offering
on a “best efforts” basis without a minimum amount required. If the Company is not successful in raising at least
a substantial portion of the gross amount it is seeking in this Offering, the Company will be required to seek additional financing
sooner than anticipated and will not be able to pursue its complete business strategy or meet its operating plan. If additional
capital is required, there is no assurance that the Company will be able to do so on commercially reasonable terms, if at all.
No commitment for any additional financings exists at the present. See “Use of Proceeds.”

 

You may
suffer dilution  in the Company. The Shares offered hereby are not the exclusive means by which the Company may issue
its securities in exchange for cash, property, services, forgiveness of debt, or otherwise and any such issuances may likely be
made on terms and conditions substantially more favorable than the terms of this Offering. Accordingly, any such other securities
issued by the Company not in connection with this Offering may significantly dilute your equitable interest. Furthermore, the
board of directors of the Company may create various series of preferred stock (“Blank Check Preferred”) with different
characteristics as authorized by its articles of incorporation. Any issuance of Blank Check Preferred stock will dilute the shareholders'
interest and voting percentage in the Company.

 

Our
Chief Executive Officer will hold a controlling beneficial interest in the voting shares of the Company which will limit your
ability to influence the outcome of any shareholder vote. Our Chief Executive Officer, Scott Weissman, will beneficially
hold a controlling interest in the voting shares of the Company upon completion of the anticipated reverse merger noted elsewhere
in this memorandum. Consequently, Mr. Weissman may unilaterally determine the election of our Board of Directors and, therefore,
the direction of our business. Under our Articles of Incorporation, the vote of a majority of the Shares outstanding is generally
required to approve most shareholder action. As a result, Mr. Weissman will be able to control the outcome of shareholder votes
for the foreseeable future, including votes concerning the election of directors, amendments to our Articles of Incorporation
or proposed mergers or other significant corporate transactions. Shareholders should be aware that they may have limited ability
to influence the outcome of any vote in the future.

 

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Since
there is presently a limited trading market for our Shares, purchasers of our Shares may have difficulty selling their Shares,
should they desire to do so. Due to a number of factors, including the lack of listing of our Shares on a national securities
exchange, the trading volume in our Shares is limited. As a result, the sale of a significant amount of Shares may depress the
price of our Shares and you may lose all or a portion of your investment.

 

Since
our Shares are not presently listed on a national securities exchange, trading in our Shares is subject to rules governing “penny
stocks,” which impairs trading activity in our Shares. Our Shares are subject to rules adopted by the SEC regulating
broker-dealer practices in connection with transactions in penny stocks. Those disclosure rules applicable to penny stocks require
a broker-dealer, prior to a transaction in a penny stock not otherwise exempt from the rules, to deliver a standardized disclosure
document required by the SEC. These rules also require a cooling off period before the transaction can be finalized. These requirements
may have the effect of reducing the level of trading activity in any secondary market for our Shares. Many brokers may be unwilling
to engage in transactions in our Shares because of the added disclosure requirements, thereby making it more difficult for stockholders
to dispose of their Shares.

 

Since
our Company is considered a "Shell" without operations and assets, the Shares from this Offering will be restricted
from sale or transfer until the restrictive legend is removed by a registration statement filed by the Company or from Rule 144
registration exemption. Rule 144 will only be available to remove the restrictive legend from stock certificates one year
from the date that the Company reports that it is no longer a "Shell" and upon significant non-cash assets being deposited
and/or operations beginning within the Company. The Shares will be illiquid as long as the stock certificates have a restrictive
legend affixed.

 

Issuances
of our stock in the future could dilute existing shareholders and adversely affect the market price of our Shares. We
have the authority to issue up to 500,000,000 shares of common stock, and to issue options and warrants to purchase Shares without
stockholder approval. Because our Shares are not currently listed on a national securities exchange, we are not required to solicit
shareholder approval prior to issuing large blocks of our stock. These future issuances could be at values substantially below
the price paid for our Shares by our current shareholders. In addition, we could issue large blocks of our Shares to fend off
unwanted tender offers or hostile takeovers without further stockholder approval.

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Because there
is presently no active trading market for our Shares, the issuance of our Shares in this Offering and to other persons may have
a disproportionately large impact on its price compared to larger companies.

 

We
have never paid dividends on our Shares and we do not anticipate paying any in the foreseeable future. We have not paid
dividends on our Shares to date, and we may not be in a position to pay dividends for the foreseeable future. Our ability to pay
dividends will depend on our ability to successfully develop our business plan and generate revenue from operations. Further,
our initial earnings, if any, will likely be retained to finance our operations. Any future dividends will depend upon our earnings,
our then-existing financial requirements and other factors, and will be at the discretion of our Board of Directors.

 

We
have unidentified risks associated with this Offering. The risks listed above are not a complete list of the potential
risks facing the company proposed business. Management realizes that there may exist significant risks yet to be recognized or
encountered to which it may not be able to effectively respond. There can be no assurance that management will be successful in
addressing the listed risks or future potential risks, and any failure to do so could have a material and adverse effect on the
company’s business, financial condition, and results of operations.

 

The terms of this Offering,
including the price of the Shares, have been arbitrarily chosen by the Company and may not be indicative of future market prices.

 

The
price in this Offering was not established in a competitive market, but was determined by the Company. The price in this Offering
bears no relationship to our assets, book value, historical results of operations or any other established criterion of value,
and may not be indicative of the fair value of the Common Stock. The trading price, if any, of the Common Stock that will prevail
in any market that may develop in the future may be higher or lower than the price you pay in this Offering.

 

The
public market may not agree with or accept the Company’s determination of the price per Share in this Offering, in which
case investors may not be able to sell their Shares at or above the price in this Offering, thereby resulting in losses on sale.
If the Company’s Shares do become publicly traded in the future, the market price of the Common Stock may fluctuate significantly
in response to factors, some of which are beyond the Company’s control, such as the announcement of any clinical trial results,
regulatory actions, new products or product enhancements by the Company

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or its competitors,
quarterly variations in the Company’s and its competitors’ results of operations, changes in earnings estimates or
recommendations by securities analysts, developments in the Company’s industry, and general market conditions and other
factors, including factors unrelated to the Company’s own operating performance or the condition or prospects of the Company’s
industry.

 

Further,
the stock market in general, and securities of small-cap companies in particular, have recently experienced extreme price and
volume fluctuations. Continued market fluctuations could result in extreme volatility in the price of the Common Stock in the
future, which could cause a decline in the value of the Common Stock. You should also be aware that price volatility might be
higher if the trading volume of the Common Stock is low.

 

Investors may
be liable as underwriters for selling or distributing the securities purchased in this Offering.

 

Investors
purchasing Shares in this Offering with a view to selling or otherwise distributing those securities may be considered to be underwriters,
subjecting the investors to potential liability under Section 11 of the Securities Act. Further, if deemed an underwriter, the
investor could not rely on Rule 144 of the Securities Act to sell or otherwise distribute the securities purchased in the Offering.
Additionally, if an investor is considered an underwriter and seeks to sell or otherwise distribute the securities purchased in
the Offering, then the investor would be obligated to deliver a prospectus required by the rules promulgated under the Securities
Act.

 

No Investor Counsel

 

Counsel has
not been retained to represent the Purchasers of Common Stock in this Offering. Prospective Purchasers are urged to consult with
their own counsel and retain their independent services as deemed necessary.

 

The Shares may not be a suitable
investment.

 

The Shares may
not be a suitable investment for every investor; thus, we advise Investors to consult their investment, tax and other professional
financial advisors before deciding whether to invest. The characteristics of the Shares, including the conversion and interest
rate, may not satisfy an Investor's investment objectives. The Shares may not be a suitable investment for an Investor based on
their ability to withstand a loss of interest or principal or other aspects of the Investor's financial situation, including their
income, net worth, financial needs, investment risk profile,

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return objectives, investment experience
and other factors. Before deciding whether to purchase the Shares, each Investor should consider their investment allocation with
respect to the amount of its contemplated investment in the Shares in relation to its other investment holdings and the diversity
of those holdings.

 

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    	50

    

 

ADDITIONAL
INFORMATION

 

Requests for
additional information should be directed to the representative of Legal Life Plans at the address and telephone number listed
below. We will make available to each investor the opportunity to ask questions of and receive answers from the Company’s
officers or directors concerning the terms and conditions of this Offering and will provide each investor the opportunity to obtain
additional information to the extent the Company possesses such information or can acquire it without unreasonable effort or expense.
Additionally, the following documents are available for review upon written request: Articles of Incorporation and Bylaws. Requests
for additional information should be directed to the following address:

 

 

Legal
Life Plans, Inc.

 

Attn: Scott
Weissman, Chief Executive Officer

2900 North Military
Trail, Ste 107

Boca Raton,
FL 33431, 

Phone: (561)
672-7300, FAX: (561) 756-8068

Cell: (786)
424-9619

scottweissman@legalplanprovider.com

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EXHIBIT
A – SUBSCRIPTION AGREEMENT

 

 

LEGAL LIFE PLANS, INC.

 

SUBSCRIPTION AGREEMENT

 

This Subscription Agreement (this “Agreement”)
is entered into as of the date of acceptance set forth below (the “Acceptance Date”) by and between LEGAL LIFE PLANS,
INC., a corporation organized under the laws of the state of Delaware, USA (the "Company"), and the undersigned, __________________________
(hereafter, the "Undersigned").

 

1.Subscription. The Undersigned hereby
subscribes to purchase ___________________  Shares of Common Stock of the Company (“Shares”). The purchase price
of the Shares is _______________ Dollars ($______) per Share. The Undersigned hereby tenders to the Company the amount of
____________________ Dollars $___________________________ (the "Invested Amount") in exchange for these Shares.
The Undersigned acknowledges that this Agreement is subject to acceptance, in full or in part, by the Company. If this Agreement
is rejected, the Company shall promptly return to the Undersigned the Invested Amount submitted to the Company with this Agreement
without interest or deduction.

 

2.Warranties of Company. The Company
hereby represents and warrants that:

 

(a)The issuance of the Shares to the Undersigned
upon the terms and conditions set forth herein has been authorized by all requisite corporate action; and

 

(b)The Company is a corporation validly
formed and existing in good standing as of the date hereof in the state of Delaware.

 

3.Investment Intent. The Undersigned
represents that it is acquiring the Shares hereunder for investment and not with a view to the sale or other distribution thereof
within the meaning of the Securities Act of 1933, as amended (the "Securities Act"), and that the Undersigned has no
present intention of selling or otherwise disposing of all or any portion of the Shares (collectively, the “Securities”).
The Undersigned represents that it is acquiring the Securities for the Undersigned's own account and that no one else has any beneficial
ownership in the Shares to be acquired hereby.

 

4.Investment Risks. The Undersigned
acknowledges that:

 

(a)There are substantial risks incident
to the acquisition of the Securities, and the Undersigned recognizes the speculative nature and risks of loss associated with investments
of this type; and

 

(b)The Company has a very limited financial
and operating history and has yet to achieve a profit.

 

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5.Securities Law Restrictions on Transfer.
The Undersigned acknowledges that:

 

(a)In reliance upon the representations
and warranties set forth herein, none of the Securities have been registered under federal law with the United States Securities
and Exchange Commission ("SEC") or under applicable state law registration requirements and, accordingly, may not be
offered, sold, or otherwise transferred, except in compliance with the applicable federal and state law;

 

(b)The Undersigned must bear the economic
risk of the Undersigned's investment in the Securities indefinitely, unless the Securities are registered pursuant to the Securities
Act and applicable state law or, in the opinion of counsel in the form and substance satisfactory to The Company, an exemption
from the registration requirement is available;

 

(c)The Undersigned cannot be assured that
any exemption from the registration requirement of the Securities Act and applicable state law will be available should the Undersigned
desire to transfer any of the Securities, and, therefore, the Undersigned may not be able to dispose of or otherwise transfer the
Securities under the circumstances, in the amounts, or at the times proposed by the Undersigned;

 

(d)Rule 144 promulgated by the SEC under
the Securities Act, which provides for certain limited, routine sales of unregistered securities, may not be available with respect
to the Securities, and the Company is presently under no obligation to furnish the information that might be necessary to enable
the Undersigned to sell any of the Securities under Rule 144;

 

(e)Only the Company may file a registration
statement with the SEC, and the Company is under no obligation to do so with respect to any of the Securities; and

 

(f)The Undersigned understands that the
Securities will each bear a legend substantially similar to the following, in addition to any other legends required by federal
or state laws:

 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933 (THE "SECURITIES ACT") AND MAY NOT BE OFFERED, SOLD, OR OTHERWISE TRANSFERRED, PLEDGED,
OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE SECURITIES ACT OR, IN THE OPINION OF COUNSEL IN FORM AND SUBSTANCE AND SATISFACTORY
TO THE ISSUER OF THE SECURITIES, SUCH OFFER, SALE, TRANSFER, PLEDGE, OR HYPOTHECATION IS IN COMPLIANCE THEREWITH.

 

6.Legal Life Plans, Inc. Private Placement
Memorandum. The Undersigned represents that it has received a copy of the Legal Life Plans, Inc. Private Placement Memorandum,
dated January 2013, concerning the operations and prospects of the Company, and that the Undersigned has read and understands the
contents thereof.

 

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7. Access to Information; Independent
Investigation. The Undersigned, in making the decision to purchase the Shares, has relied upon independent investigations made
by him or his representative, if any, and the Undersigned or his representative have, prior to any sale to the Undersigned, been
given access and the opportunity to ask questions of and to receive answers from, the Company or any person acting on its behalf
concerning the books and records of the Company, all material contracts and documents of the Company, and the terms and conditions
of the transactions contemplated by this Agreement. The Undersigned or his representative have been furnished with all materials
relating to the business, finances, and operation of the Company and the Undersigned or his representative has received complete
and satisfactory answers to any and all inquiries relating thereto.

 

8.Accredited Investor. The Undersigned
represents that the Undersigned is an "accredited investor" in that the Undersigned meets one of the specific standards
set forth in Rule 501 of Regulation D of the Securities Act and generalized below (please check applicable box):

 

	£		A natural person whose individual
net worth or joint net worth with that person's spouse at the time of the purchase, EXCLUDING THE VALUE OF SUCH PERSON’S
PRINCIPAL RESIDENCE, exceeds $1,000,000;

 

	£		A natural person who had an individual income in excess of $200,000 in each of the
two most recent years or joint income with that person's spouse in excess of $300,000 in each of those years and has a reasonable
expectation of reaching the same income level in the current year;

 

	£		A company or trust with total
assets in excess of $5,000,000 not formed for the specific purpose of acquiring the securities offered, whose purchase is directed
by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D; or

 

	£		An entity in which all of the
equity owners are accredited investors (i.e. meet one of the three criteria above).

9.Residence or Domicile. The Undersigned represents
that the Undersigned's address of principal residence (for individual purchasers) or principal office (for non-individual purchasers)
is as follows:

 

	 	 	 
	Street Address	 	 
	 	 	 
	City	State/Country	Postal Code
	(    )	/(    )	 
	Tel. No	    Fax No.	 

 

10.Execution of Subscription Agreement.
The Undersigned represents that the Undersigned has executed this Agreement either personally or by its duly authorized representative
and that the information that the Undersigned has provided herein is both accurate and complete.

 

11.Entire Agreement. This Agreement
constitutes the entire agreement among the parties hereto with respect to the subject matter hereof and supersedes any prior or
contemporaneous oral or written agreements or understandings with respect to the subject matter hereof.

 

12.Amendments. This Agreement may
be amended only in a writing that refers to this Agreement and that it is signed by both parties hereto.

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13.Governing Law. This Agreement shall
be governed by and construed in accordance with the laws of the State of Delaware.

 

IN WITNESS WHEREOF, the Undersigned or its duly
authorized representative has executed this Agreement on the date set forth on the attached signature page.

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Signature Page to Subscription Agreement
with

LEGAL LIFE PLANS, INC. 

 

	 	 	SIGNATURE OF INDIVIDUAL INVESTOR
	 	 	 
	                                         	 	                                         
	Date	 	Name (please print)
	 	 	 
	                                         	 	                                         
	Social Security No.	 	Signature
	 	 	 
	 	 	SIGNATURES OF JOINT INVESTORS
	 	 	 
	                                         	 	                                         
	Date	 	Name (please print)
	 	 	 
	                                         	 	                                         
	Social Security No.	 	Signature
	 	 	 
	                                         	 	                                         
	Date	 	Name (please print)
	 	 	 
	                                         	 	                                         
	Social Security No.	 	Signature

 

	Invested Amount: $ _________________________  
	 	 
	Wiring Instructions:                 Remit to:    LEGAL LIFE PLANS, INC.
	 	 
	 	Account Name:  Legal Life Plans Inc.
	 	2900 North Military Trail, Ste. 107
	 	Boca
    Raton, FL, 33431
	 	 
	 	Account Number:   993995224
	 	Transit Number:   267084131
	 	Swift Code:  CHASUS33
	 	Bank Name:   Chase Bank
	 	5950 Glades Rd. , Boca Raton, FL 33431
	 	Bank Contact:  Brian Heilig , Phone:
    561-395-0795

 

Subscriber hereby directs that the Shares be held as follows (check
one):

____ Individual Ownership

____ Joint Tenants with right of Survivorship

____ Tenants in Common

____ Other (specify): ________________________________

 

ACCEPTANCE BY THE COMPANY

 

This Subscription Agreement is hereby accepted
by LEGAL LIFE PLANS, INC. as of __________________________, ________ (the "Acceptance Date").

	 	By:
	 	 
	 	Its:

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Signature Page to Subscription Agreement
with

LEGAL LIFE PLANS, INC.

 

	 	 	SIGNATURE OF ENTITY INVESTOR     
	 	 	 
	 	 	 
	 	 	 
	____________________   ___  	 	_          __________________________________________
	Date	 	Entity Name
	 	 	 
	 	 	 
	____________________   ___  	 	                                                   
	Title of Authorized Representative	 	Name of Authorized Representative
	 	 	 
	 	 	 
	 	 	________________________________________________
	 	 	Signature

 

	Invested Amount: $ _________________________  
	 	 
	Wiring Instructions:                 Remit to:    LEGAL LIFE PLANS, INC.
	 	 
	 	Account Name:  Legal Life Plans Inc.
	 	2900 North Military Trail, Ste. 107
	 	Boca Raton, FL, 33431
	 	 
	 	Account Number:   993995224
	 	Transit Number:   267084131
	 	Swift Code:  CHASUS33
	 	Bank Name:   Chase Bank
	 	5950 Glades Rd. , Boca Raton, FL 33431
	 	Bank Contact:  Brian Heilig , Phone: 561-395-0795

 

ACCEPTANCE BY THE COMPANY

 

This Subscription Agreement is hereby accepted
by LEGAL LIFE PLANS, INC. as of __________________________, __________ (the "Acceptance Date").

 

 

	 	By:
	 	 
	 	Its:

 

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EXHIBIT B – INVESTOR QUESTIONNAIRE FOR ENTITIES

 

 

LEGAL LIFE PLANS, INC.

 

INVESTOR SUITABILITY QUESTIONNAIRE FOR
ENTITIES

 

 

		To:	Prospective Purchaser of LEGAL LIFE PLANS, INC. (the "Company") Securities

 

 

Federal and state securities laws require that
the Company issue its securities only to individuals and entities that meet certain qualifications.

 

The purpose of this Questionnaire is to elicit
certain information from entities considering the purchase of the Company's securities. The information provided will be used and
relied upon by the Company to determine whether federal and state securities laws allow the Company to offer and sell its securities
to such entities. This Questionnaire is not an offer to sell securities.

 

All answers will be kept as confidential as possible.
However, this Questionnaire may be shown to such persons as the Company deems appropriate to establish its entitlement to a private
offering or other exemption under federal and state securities laws.

 

If any questions arise in answering this Questionnaire,
please contact Scott Weissman, Chief Executive Officer, at 2900 North Military Trail, Ste. 107, Boca Raton, FL, 33431. Ph: (561)
672-7300, Fax (561) 756-8068. After the Questionnaire is completed, please return it to the Company at the above address.

 

 

 

Please Print or Type

 

 

 

PLEASE ANSWER ALL QUESTIONS COMPLETELY
AND EXECUTE

THE SIGNATURE PAGE

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INVESTOR QUESTIONNAIRE FOR ENTITIES

 

 

(All questions in this Questionnaire refer to the entity considering
an investment in the Company and not to the individual completing this Questionnaire on behalf of such entity.)

 

	 	 	 	 	 	 	 	 
	1)	Name of prospective purchaser: 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	Name in which investment is to be registered, if different:	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	2)	Nature of Entity:	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	□	Corporation	 	□	Trust	 	 
	 	□	General Partnership	 	□	IRA	 	 
	 	□	Limited Partnership	 	□	Other:	 	 
	 	 	 	 	 	 	 	 
	 	State and date of legal formation: 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	If entity is a trust, name of trustee(s): 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	3)	Address:	 	 	Mailing Address (if different):	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	Telephone: ( )_______________________	 	 	 
	 	 	 	 	 	 	 	 
	 	Nature of Business:  ________________	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	4)	Send correspondence to:	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	(Name)
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	(Title)
	 	 	 	 	 	 	 	 
	 	Telephone: ( )_______________________	 	 	 

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		5)	Please indicate whether the prospective purchaser is described by one or more of the following categories:

	□	a.	National or state bank or savings and	 	 
	 	 	loan association:	Yes	No
	 	 	 	 	 
	 	 	If yes, give jurisdiction under	 	 
	 	 	which it is chartered: _____________________	 	 
	□	b.	A broker or dealer registered under	 	 
	 	 	Section 15 of the Securities Act of 1934:	Yes	No
	□	c.	Insurance company:	Yes	No
	□	d.	Investment company registered	 	 
	 	 	under Investment Company Act of 1940:	Yes	No
	□	e.	Business Development Company as	 	 
	 	 	defined in the Investment Company Act	 	 
	 	 	of 1940:	Yes	No
	□	f.	Licensed Small Business	 	 
	 	 	Investment Company:	Yes	No
	 	 	 	 	 
	 	 	If yes, give license number: _____________________	 	 
	□	g.	Employee benefit plan under ERISA:	 	 
	 	 	 	 	 
	 	 	If yes, is the investment decision	 	 
	 	 	being made by a plan fiduciary which is	 	 
	 	 	a bank, insurance company or registered	 	 
	 	 	investment advisor?	Yes	No
	 	 	 	 	 
	 	 	Does the plan have total assets	 	 
	 	 	in excess of $5,000,000?	Yes	No
	 	 	 	 	 
	 	 	If self-directed, are the investment	 	 
	 	 	decisions made by “accredited investors”	 	 
	 	 	as defined in Rule 501(a) of the	 	 
	 	 	Securities Act of 1933?	Yes	No
	□	h.	Private business development company	 	 
	 	 	As defined in Investment Advisers	 	 
	 	 	Act of 1940:	Yes	No
	□	i.	Charitable tax exempt organization	 	 
	 	 	Under Section 501(c)(3) of Internal	 	 
	 	 	Revenue Code (whether or not IRS	 	 
	 	 	ruling obtained) with total assets in	 	 
	 	 	excess of $5,000,000:	Yes	No
	□	j.	Any trust with total assets in excess	 	 
	 	 	of $5,000,000 that is not formed for the	 	 
	 	 	specific purpose of making this investment	 	 
	 	 	and whose purchase is directed by a	 	 
	 	 	“sophisticated person” as described in	 	 
	 	 	Rule 506(b)(2)(ii) under the Securities	 	 
	 	 	Act of 1933:	Yes	No

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	□	k.	Any entity in which all of the investors	 	 
	 	 	Are “accredited investors” as defined in	 	 
	 	 	Rule 501(a) of the Securities Act of 1933:	Yes	No

	6)	Current net worth of the prospective purchaser: $	 	 
	 	 	 	 	 	 	 
	 	If the prospective purchaser is an investment general partnership that was not formed for the 
	 	specific purpose of acquiring the securities in this offering, in addition to providing the net worth of 
	 	the partnership, please provide the aggregate net worth of its general partners. If the prospective 
	 	purchase is a trust, please provide the net worth of the trust itself.	 
	 	 	 	 	 	 	 
	7)	List below examples of equity investments made by the prospective purchaser over the past three 
	 	years:	 	 	 	 	 
	 	 	 	 	 	 	 
	 	Form of investment	 	Type	 	 	 
	 	(corporate securities,	 	(technology,	 	Approx.	 
	 	limited partnership	 	industrial,	 	amount	 
	 	interests, etc.)	 	real estate, etc.)	 	Invested	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	8)	Does the prospective purchaser, or its officers, directors, controlling shareholders or general 
	 	partners have a pre-existing relationship with the Company, or any officer, director, or controlling 
	 	shareholder of the Company, of such a nature as to be able to assess the character, business 
	 	acumen and general business and financial circumstances of the Company or such person? If so, 
	 	please describe the nature, duration and extent of any such relationship.
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	9)	Is the prospective purchaser, or its officers, directors, controlling shareholders or general partners 
	 	related or otherwise connected with any other individual or entity potentially purchasing the 
	 	Company's securities in this transaction? If so, please explain.	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	10)	A Purchaser Representative is an advisor, broker, attorney or other individual who is not affiliated 
	 	with or compensated by the Company and who will investigate and advise the prospective 

 

 

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	 	purchaser regarding the advantages of this investment.  Has the prospective purchaser used or 
	 	does it intend to use a Purchaser Representative to aid it in evaluating the merits and risks of this 
	 	investment?  If so, please give name, address and phone number of such person.
	 	 	 	 	 	 	 
	11)	Does the prospective purchaser (or if a Purchaser Representative is identified in No. 10 above, the 
	 	prospective purchaser and its representative) have sufficient business and investment experience 
	 	to evaluate the merits and risks of the prospective investment and to protect its interests in 
	 	connection with this offering? If so, please explain.	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	12)	Was the prospective purchaser presented with or solicited by any publicly circulated or available 
	 	newspaper, mail, radio or television, or any other form of general advertising, or is it aware of or did 
	 	any of its agents or representatives attend any seminar open to the public, in connection with the 
	 	offering of any securities by the Company? If so, please explain:	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

 

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	13)	 	Does the prospective purchaser further represent as follows?
	 	 	 	 
	□	a.	Any purchase of securities of the Company will be solely for its own account and will not be 
	 	 	made with a view to, or for sale in connection with, any distribution of such securities.
	 	 	Yes	No
	 	 	 	 
	□	b.	It (and if the prospective purchaser is a trust, its beneficiaries) has adequate means of 
	 	 	providing for its current needs and future contingencies. Any securities acquired by it will 
	 	 	be acquired for investment and it has no need in the foreseeable future for liquidity in any 
	 	 	investment in the Company.
	 	 	Yes	No
	 	 	 	 
	□	c.	It (and if the prospective purchaser is a trust, its beneficiaries) is (are) able to bear the 
	 	 	economic loss of the full amount of its investment in the Company.
	 	 	Yes	No
	 	 	 	 
	□	d.	The prospective purchaser was not formed for the specific purpose of purchasing 
	 	 	securities of the Company.
	 	 	Yes	No
	 	 	 	 
	 	 	If the answer to d. is "Yes", what are the other purposes of the prospective purchaser?
	 	 		
	 	 		

 

	 	 	 
	 	Name of Prospective Purchaser
	 	 	 
	 	 	 
	 	By:	 
	 	 	      Signature of Representative
	 	 	 
	 	 	 
	 	Name of Representative – please print
	 	 	 
	 	 	 
	 	Title of Representative
	 	 	 
	 	 	 
	 	Date

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EXHIBIT C – INVESTOR QUESTIONNAIRE FOR INDIVIDUALS

 

LEGAL LIFE PLANS, INC.

 

INVESTOR SUITABILITY QUESTIONNAIRE FOR
INDIVIDUALS

 

 

To:Prospective Purchaser of LEGAL LIFE PLANS, INC. (the "Company")
Securities

 

 

Federal and state securities laws require that
the Company issue its securities only to individuals and entities that meet certain qualifications.

 

The purpose of this Questionnaire is to elicit
certain information from individuals considering the purchase of the Company's securities. The information provided will be used
and relied upon by the Company to determine whether federal and state securities laws allow the Company to offer and sell its securities
to such purchasers. This Questionnaire is not an offer to sell securities.

 

All answers will be kept as confidential as possible.
However, this Questionnaire may be shown to such persons as the Company deems appropriate to establish its entitlement to a private
offering or other exemption under federal and state securities laws.

If any questions arise in answering this Questionnaire,
please contact Scott Weissman, Chief Executive Officer, at Legal Life
Plans, Inc. 2900 North Military Trail, Ste. 107, Boca Raton, FL, 33431, Ph: (561) 672-7300, Fax (561) 756-8068. After the Questionnaire
is completed, please return it to the Company at the above address.

 

 

Please Print or Type

 

 

 

PLEASE ANSWER ALL QUESTIONS COMPLETELY
AND EXECUTE

THE SIGNATURE PAGE

    	Table of Contents

    	 

    

INVESTOR QUESTIONNAIRE FOR INDIVIDUALS

 

	1.             	Name of  Prospective Purchaser:	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	A.            	Please print your name:	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	B.            	Please print your spouse's name (if any):	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	C.            	Please write the name(s) in which the investment is to be held:	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	2.             	Domicile and Residence:	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	A.            	Where is your principal place of residence?	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	B.             	 	 	 	 	 
	 	 	Please identify any other state or country where you own a residence, are registered to 	 
	 	 	vote, pay income taxes or hold a driver's license, and describe your connection with such 
	 	 	state or country: 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	3.             	Net Worth:	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	A.            	Approximate Net Worth NOT INCLUDING THE VALUE OF YOUR PRINCIPAL	 
	 	 	RESIDENCE (in USD) * [Check One]	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	Under $200,000	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	$200,000 — $500,000	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	$500,000 — $1,000,000	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	Over $1,000,000	 	 	 
	 	 	 	 	 	 	 	 
	 	*	As used herein the term "net worth" means total assets in excess of total liabilities, and 	 
	 	 	includes the net worth of your spouse.	 	 	 	 
	 	 	 	 	 	 	 	 
	 	B.            	Approximate US dollar amount of net worth represented by principal residence:  	 
	 	 	$	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

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	 	C.            	What percentage of your net worth is represented by your proposed investment in the Company?
	 	 	 	 	 	 	 	 
	 	 	 	 	less than 10%	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	10 — 20%	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	more than 20%	 	 	 
	 	 	 	 	 	 	 	 
	4.             	Individual income for preceding two taxable years:	 	 	 
	 	 	 	 	 	 	 	 
	 	[Check one for each year for both yourself and your spouse (if any) and indicate year to which it applies]
	 	 	 	 	 	 	 	 
	 	 	 	 	Yourself 	 	Spouse (if any)	 
	 	 	 	 	 	 	 	 
	 	Under $50,000	 	                          	 	                          	 
	 	 	 	 	 	 	 	 
	 	$50,000 to $100,000	 	                          	 	                          	 
	 	 	 	 	 	 	 	 
	 	$100,000 to $150,000	 	                          	 	                          	 
	 	 	 	 	 	 	 	 
	 	$150,000 to $200,000	 	                          	 	                          	 
	 	 	 	 	 	 	 	 
	 	Over $200,000	 	                          	 	                          	 
	 	 	 	 	 	 	 	 
	5.             	Estimated expected individual income for current taxable year:	 	 	 
	 	 	 	 	 	 	 	 
	 	[Check one for each year for both yourself and your spouse (if any) and indicate year to which it applies]
	 	 	 	 	 	 	 	 
	 	 	 	 	Yourself 	 	Spouse (if any)	 
	 	 	 	 	 	 	 	 
	 	Under $50,000	 	                          	 	                          	 
	 	 	 	 	 	 	 	 
	 	$50,000 to $100,000	 	                          	 	                          	 
	 	 	 	 	 	 	 	 
	 	$100,000 to $150,000	 	                          	 	                          	 
	 	 	 	 	 	 	 	 
	 	$150,000 to $200,000	 	                          	 	                          	 
	 	 	 	 	 	 	 	 
	 	Over $200,000	 	                          	 	                          	 
	 	 	 	 	 	 	 	 
	6.             	Prior investment experience:	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	A.            	Please indicate the frequency of your investment in publicly traded securities in the last 
	 	 	three years (Check One Box):	 	 	 	 	 
	 	 	□ 5 or more	 	 	 	 	 
	 	 	□ 1 or more but fewer than 5	 	 	 	 
	 	 	□ None	 	 	 	 	 

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	 	B.            	Please indicate the frequency of your investment in securities in which no market is made 
	 	 	in the last three years (Check One Box):	 	 	 	 
	 	 	□ 5 or more	 	 	 	 	 
	 	 	□ 1 or more but fewer than 5	 	 	 	 	 
	 	 	□ None	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	C.            	Please indicate the frequency of your investment in oil and gas, real estate, research and 
	 	 	development or other tax-shelter type investments in the last three years (Check One Box):
	 	 	□ 5 or more	 	 	 	 	 
	 	 	□ 1 or more but fewer than 5	 	 	 	 
	 	 	□ None	 	 	 	 	 
	 	 	 	 	 	 	 	 
	7.             	Please describe your educational background:	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	8.             	Do you have a pre-existing personal or business relationship with the Company, or any officer, 
	 	director, or controlling shareholder of the Company, of such a nature as to allow you to assess the 
	 	character, business acumen and general business and financial circumstances of the Company or 
	 	such person?  If so, please describe the nature, duration and extent of any such relationship.	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	9.             	Are you related or otherwise connected with any other individual or entity associated with the 
	 	Company or potentially purchasing the Company's securities?  If so, please explain.	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

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	10.          	A Purchaser Representative is an advisor, broker, attorney or other individual who is not affiliated 
	 	with or compensated by the Company and who will investigate and advise you regarding the 
	 	advantages of this investment.  Have you used or do you intend to use a Purchaser Representative 
	 	to aid you in evaluating the merits and risks of purchasing securities of the Company?  If so, please 
	 	give the name, address and phone number of such person.	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	11.          	Do you believe that you (or if a Purchase Representative is identified in No. 10 above, you and 
	 	your representative) have sufficient business and investment experience to enable you to evaluate 
	 	the merits and risks of holding securities of the Company and to protect your interests in connection 
	 	with this transaction?  If so, please explain.	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	12.          	Do you further represent as follows?	 	 	 	 
	 	 	 	 	 	 	 	 
	 	A.            	Any receipt of securities of the Company will be solely for your own account and will not be 
	 	 	made with a view to, or for sale in connection with, any distribution of such securities.	 
	 	 	  Yes                No	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	B.            	You have adequate means of providing for your current needs and future contingencies.  
	 	 	Any securities acquired by you will be acquired for investment and you have no need in the 
	 	 	foreseeable future for liquidity in any investment in the Company.	 	 
	 	 	  Yes                No	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	C.            	You are able to bear the economic loss of the full amount of your investment in the 	 
	 	 	Company.	 	 	 	 	 
	 	 	  Yes                No	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	I certify that this Questionnaire is complete and correct.  I understand that the Company is relying 	 
	on the above to determine my suitability as a potential investor in the Company under applicable securities 
	laws.  I will notify the Company of any significant changes in the information contained above.	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	Name of Purchaser	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	Signature	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	DateExhibit 10.1 Amended and Restated Credit Agreement

Execution Copy
Published CUSIP Number: [______]

AMENDED AND RESTATED CREDIT AGREEMENT
Dated as of February 5, 2013
among
HERITAGE-CRYSTAL CLEAN, LLC,
as the Borrower,
BANK OF AMERICA, N.A.,
as the Administrative Agent,
Swing Line Lender,
and L/C Issuer,
and
THE OTHER LENDERS PARTY HERETO,
with
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,
as the Sole Lead Arranger and Sole Book Runner
(continued)

Table of Contents

		
	ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS
	1

		
	1.01.
	Defined Terms    2

		
	1.02.
	Other Interpretive Provisions    30

		
	1.03.
	Accounting Terms    31

		
	1.04.
	Rounding    31

		
	1.05.
	Times of Day    32

		
	1.06.
	Letter of Credit Amounts    32

		
	ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS
	32

		
	2.01.
	The Loans.    32

		
	2.02.
	Borrowings, Conversions and Continuations of Loans.    32

		
	2.03.
	Letters of Credit    34

		
	2.04.
	Swing Line Loans    44

		
	2.05.
	Prepayments    47

		
	2.06.
	Termination or Reduction of the Aggregate Commitments    48

		
	2.07.
	Repayment of Loans    49

		
	2.08.
	Interest    49

		
	2.09.
	Fees    50

		
	2.10.
	Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate.    51

		
	2.11.
	Evidence of Debt    51

		
	2.12.
	Payments Generally; the Administrative Agent's Clawback    52

		
	2.13.
	Sharing of Payments    54

		
	2.14.
	Accordion Advances.    55

		
	2.15.
	Cash Collateral.    58

		
	2.16.
	Defaulting Lenders.    59

		
	ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY
	62

		
	3.01.
	Taxes    62

		
	3.02.
	Illegality    67

		
	3.03.
	Inability to Determine Rates    67

		
	3.04.
	Increased Costs; Reserves on LIBOR Rate Loans    68

		
	3.05.
	Compensation for Losses    69

		
	3.06.
	Mitigation Obligations; Replacement of Lenders.    70

		
	3.07.
	Survival    70

		
	ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	71

		
	4.01.
	Conditions of Initial Credit Extension    71

		
	4.02.
	Conditions to all Credit Extensions    73

		
	ARTICLE V. REPRESENTATIONS AND WARRANTIES
	74

		
	5.01.
	Existence, Qualification and Power; Compliance with Laws    74

		
	5.02.
	Authorization; No Contravention    74

		
	5.03.
	Governmental Authorization; Other Consents    75

		
	5.04.
	Binding Effect    75

		
	5.05.
	Financial Statements; No Material Adverse Effect    75

		
	5.06.
	Litigation    76

		
	5.07.
	No Default    76

		
	5.08.
	Ownership of Property; Liens    76

		
	5.09.
	Environmental Compliance    76

		
	5.10.
	Insurance    77

		
	5.11.
	Taxes    78

		
	5.12.
	ERISA Compliance    78

		
	5.13.
	Subsidiaries    79

		
	5.14.
	Margin Regulations; Investment Company Act; Public Utility Holding Company Act    79

		
	5.15.
	Disclosure    79

		
	5.16.
	Compliance with Laws    80

		
	5.17.
	Intellectual Property; Licenses, Etc    80

		
	5.18.
	Rights in Collateral; Priority of Liens    80

		
	5.19.
	Permits and Licenses    80

		
	5.20.
	Certain Transactions    80

		
	5.21.
	Taxpayer Identification Number    81

		
	5.22.
	Solvency    81

		
	5.23.
	Labor Matters    81

		
	5.24.
	OFAC    81

		
	5.25.
	True Copies of Charter Documents.    81

		
	5.26.
	Subordinated Debt    81

		
	ARTICLE VI. AFFIRMATIVE COVENANTS
	81

		
	6.01.
	Financial Statements    81

		
	6.02.
	Certificates; Other Information    82

		
	6.03.
	Notices    83

		
	6.04.
	Payment of Obligations    84

		
	6.05.
	Preservation of Existence, Etc    84

		
	6.06.
	Maintenance of Properties    85

		
	6.07.
	Maintenance of Insurance    85

		
	6.08.
	Compliance with Laws, Contracts, Licenses and Permits; Maintenance of Material Licenses and Permits    85

		
	6.09.
	Books and Records    86

		
	6.10.
	Inspection Rights    86

		
	6.11.
	Use of Proceeds    86

		
	6.12.
	Collateral Records    86

		
	6.13.
	Reserved.    86

		
	6.14.
	Additional Subsidiaries.    86

		
	6.15.
	Collateral Security    87

		
	6.16.
	Environmental Indemnification    88

		
	6.17.
	Compliance with Environmental Laws; Environmental Reports.    88

		
	6.18.
	Further Assurances    88

		
	6.19.
	Obligations as Senior Debt    89

		
	6.20.
	Swap Contracts    89

		
	ARTICLE VII. NEGATIVE COVENANTS
	89

		
	7.01.
	Liens    89

		
	7.02.
	Investments    90

		
	7.03.
	Indebtedness    91

		
	7.04.
	Fundamental Changes    92

		
	7.05.
	Dispositions    94

		
	7.06.
	Restricted Payments    95

		
	7.07.
	Change in Nature of Business    95

		
	7.08.
	Transactions with Affiliates    95

		
	7.09.
	Burdensome Agreements; Negative Pledges    95

		
	7.10.
	Use of Proceeds    96

		
	7.11.
	Financial Covenants    96

		
	7.12.
	Subordinated Debt    96

		
	7.13.
	Amendments to Organization Documents    96

		
	7.14.
	Sanctions    97

		
	7.15.
	Holding Company    97

		
	ARTICLE VIII. EVENTS OF DEFAULT AND REMEDIES
	97

		
	8.01.
	Events of Default    97

		
	8.02.
	Remedies Upon Event of Default    99

		
	8.03.
	Application of Funds    100

		
	ARTICLE IX. ADMINISTRATIVE AGENT
	101

		
	9.01.
	Appointment and Authorization of the Administrative Agent    101

		
	9.02.
	Rights as a Lender    102

		
	9.03.
	Exculpatory Provisions    102

		
	9.04.
	Reliance by the Administrative Agent    103

		
	9.05.
	Delegation of Duties    103

		
	9.06.
	Resignation of the Administrative Agent    103

		
	9.07.
	Non-Reliance on the Administrative Agent and Other the Lenders    105

		
	9.08.
	No Other Duties, Etc    105

		
	9.09.
	The Administrative Agent May File Proofs of Claim    105

		
	9.10.
	Collateral Matters    106

		
	9.11.
	Cash Management Agreements and Hedge Agreements    107

		
	ARTICLE X. CONTINUING GUARANTY
	108

		
	10.01.
	Guaranty    108

		
	10.02.
	Rights of Lenders    108

		
	10.03.
	Certain Waivers    109

		
	10.04.
	Obligations Independent    109

		
	10.05.
	Subrogation    109

		
	10.06.
	Termination; Reinstatement    109

		
	10.07.
	Subordination    110

		
	10.08.
	Stay of Acceleration    110

		
	10.09.
	Condition of Borrower    110

		
	10.10.
	Joint and Several Liability of the Loan Parties.    110

		
	10.11.
	Designation of the Borrower as the Agent for the Loan Parties    113

		
	ARTICLE XI. MISCELLANEOUS
	114

		
	11.01.
	Amendments, Etc    114

		
	11.02.
	Notices; Effectiveness; Electronic Communications    116

		
	11.03.
	No Waiver; Cumulative Remedies; Enforcement    118

		
	11.04.
	Expenses; Indemnity; Damage Waiver    119

		
	11.05.
	Payments Set Aside    121

		
	11.06.
	Successors and Assigns    121

		
	11.07.
	Treatment of Certain Information; Confidentiality    126

		
	11.08.
	Right of Setoff    127

		
	11.09.
	Interest Rate Limitation    128

		
	11.10.
	Counterparts; Integration; Effectiveness    128

		
	11.11.
	Survival of Representations and Warranties    128

		
	11.12.
	Severability    128

		
	11.13.
	Replacement of Lenders    129

		
	11.14.
	GOVERNING LAW; JURISDICTION; ETC    129

		
	11.15.
	Waiver of Right to Trial by Jury    131

		
	11.16.
	USA PATRIOT Act Notice    131

		
	11.17.
	No Advisory or Fiduciary Responsibility    131

		
	11.18.
	Electronic Execution of Assignments and Certain Other Documents    132

		
	11.19.
	Mirachem    132

		
	11.20.
	ENTIRE AGREEMENT    133

SCHEDULES

1.01(a)        Existing Letters of Credit
1.01(b)        Initial Shareholders
2.01        Commitments and Applicable Percentages
2.14        Required Consents Under Subordinated Debt
4.01(a)(xiii)    Subordinated Debt Documents
5.05        Material Indebtedness
5.06        Litigation
5.09        Environmental Matters / Hazardous Materials
5.13        Subsidiaries and Other Equity Investments
5.15        Material Contracts, Agreements
5.20        Related Party Transactions
5.21        Taxpayer Identification Numbers
5.24        OFAC Matters
6.14        Non-Wholly Owned Subsidiary
7.01        Existing Liens
7.03        Existing Indebtedness
7.08        Transactions with Affiliates
7.09        Burdensome Agreements; Negative Pledges
11.02        Administrative Agent's Office, Certain Addresses for Notices
11.06        Processing and Recordation Fees

EXHIBITS

A-1    Form of Committed Loan Notice
A-2    Form of Swing Line Loan Notice
A-3    Form of Term A Loan Notice
B-1    Form of Revolving Credit Note
B-2    Form of Swing Line Note
B-3    Form of Term A Note
C    Form of Compliance Certificate
D-1    Form of Assignment and Assumption
D-2    Form of Administrative Questionnaire
E    Form of Instrument of Accession
F    Forms of Tax Compliance Certificates

AMENDED AND RESTATED CREDIT AGREEMENT
AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”) is entered into as of February 5, 2013, among HERITAGE-CRYSTAL CLEAN, LLC, an Indiana limited liability company (the “Borrower”), HERITAGE-CRYSTAL CLEAN, INC., a Delaware corporation (“Holdings”), each Subsidiary of the Borrower from time to time party hereto (collectively with Holdings, the “Guarantors”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and BANK OF AMERICA, N.A., as the Administrative Agent, Swing Line Lender and L/C Issuer.
WHEREAS, the Borrower and Bank of America, N.A. (with its successors, “Bank of America”) previously entered into a Credit Agreement, dated as of February 16, 2005 (the “Original Credit Agreement”), which Original Credit Agreement was most recently amended and restated pursuant to a Third Amended and Restated Credit Agreement, dated as of December 14, 2009 (as amended, supplemented or otherwise modified from time to time, the “Existing Credit Agreement”), pursuant to which Bank of America has made loans and other extensions of credit to the Borrower;
WHEREAS, Holdings and Bank of America previously entered into a Guaranty, dated as of May 30, 2008 (as amended, supplemented or otherwise modified from time to time, the “Existing Holdings Guaranty”), whereby Holdings has agreed to unconditionally guarantee the payment and performance of the Obligations under (and as defined in) the Existing Credit Agreement;
WHEREAS, Mirachem, LLC, a Delaware limited liability company and a Guarantor under this Agreement (“Mirachem”), and Bank of America previously entered into a Guaranty, dated as of December 31, 2012 (as amended, supplemented or otherwise modified from time to time, the “Existing Mirachem Guaranty” and together with the Existing Holdings Guaranty, the “Existing Guaranties”), whereby Mirachem has agreed to unconditionally guarantee the payment and performance of the Obligations under (and as defined in) the Existing Credit Agreement; and
WHEREAS, each of the Borrower, Holdings and Mirachem has requested that the Existing Credit Agreement and each of the Existing Guaranties be amended and restated in their entirety pursuant to the terms of this Agreement and that the Obligations under (and as defined in) the Existing Credit Agreement and the Guaranteed Obligations under (and as defined in) each of the Existing Guaranties be rolled into the Obligations under (and as defined in) this Agreement and the other Loan Documents;
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto covenant and agree that on the Closing Date, the Existing Credit Agreement and each of the Existing Guaranties shall be amended and restated in their entirety by this Agreement, the terms of which are as follows:
		
	ARTICLE I.
	DEFINITIONS AND ACCOUNTING TERMS

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

“Acceding Lender” has the meaning set forth in Section 2.14(c).
“Accordion Advance” has the meaning set forth in Section 2.14(a).
“Accordion Funding Date” has the meaning set forth in Section 2.14(e).

“Accordion Term Loan” has the meaning set forth in Section 2.14(b)(iii).
“Administrative Agent” means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent.
“Administrative Agent's Office” means the Administrative Agent's address and, as appropriate, account as set forth on Schedule 11.02, or such other address or account as the Administrative Agent may from time to time notify the Borrower and the Lenders.
“Administrative Questionnaire” means an Administrative Questionnaire substantially in the form of Exhibit D-2 or any other form approved by the Administrative Agent.
“Affiliate” means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified.
“Aggregate Commitments” means the Revolving Commitments of the Revolving Lenders outstanding from time to time, which amount shall initially equal $20,000,000, as such amount may be reduced or increased pursuant to the terms hereof.
“Applicable Percentage” means (a) in respect of the Aggregate Commitments, with respect to any Revolving Lender as of any date, such Revolving Lender's portion of and participating interest in, calculated as a percentage (carried out to the ninth decimal place), of the sum of (i) the Outstanding Amount of all Committed Loans on such date, plus (ii) the Outstanding Amount of all Swing Line Loans on such date, plus (iii) all L/C Obligations on such date, and (b) in respect of the Term A Loan or any other term loan advanced hereunder from time to time pursuant to Article II (including pursuant to Section 2.14), with respect to any Lender advancing a portion of the Term A Loan or such other term loan, as applicable, at any time, the percentage (carried out to the ninth decimal place) of the Term A Loan or such other term loan, as applicable, represented by the principal amount of such term Lender's portion of the Outstanding Amount of the Term A Loan or such other term loan, as applicable, at such time.
If the Revolving Commitment of any Revolving Lender to make Committed Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02(a) or if the Aggregate Commitments have expired, then the Applicable Percentage of each Revolving Lender shall be determined based on the Applicable Percentage of such Revolving Lender most recently in effect, giving effect to any subsequent assignments.
The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption, Instrument of Accession or other instrument, as the case may be, pursuant to which such Lender becomes a party hereto, as applicable.
“Applicable Rate” means, from time to time, the following percentages per annum, based upon the Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 4.01(a)(xi) (for the initial period following the Closing Date) and Section 6.02(a) (at all times thereafter):

	
					
	Pricing Level
	Leverage Ratio
	LIBOR Rate Loans & L/C Fees
	Base Rate Loans
	Commitment Fee

	1
	Less than 1.25:1.00
	1.75%
	0.75%
	0.5%

	2
	Greater than or equal to 1.25:1.00 but less than 1.75:1.00
	2%
	1%
	0.5%

	3
	Greater than or equal to 1.75:1.00 but less than 2.25:1.00
	2.25%
	1.25%
	0.5%

	4
	Greater than or equal to 2.25:1.00 but less than 2.75:1.00
	2.5%
	1.5%
	0.5%

	5
	Greater than or equal to 2.75:1.00
	2.75%
	1.75%
	0.5%

Any increase or decrease in the Applicable Rate resulting from a change in the Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is received by the Administrative Agent pursuant to Section 6.02(a); provided, however, that if a Compliance Certificate is not delivered within ten (10) days after the time periods specified in such Section 6.02(a), then Pricing Level 5 (as set forth in the table above) shall apply as of the first Business Day thereafter, subject to prospective adjustment upon actual receipt of such Compliance Certificate.
Notwithstanding anything to the contrary contained in this definition, the determination of the Applicable Rate for any period shall be subject to the provisions of Section 2.10(b).
Notwithstanding the foregoing, from the Closing Date through the date that is six months following the Closing Date, in no event shall the Applicable Rate be determined based upon a Pricing Level below level 3.
“Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender.
“Arranger” means Merrill Lynch, Pierce, Fenner & Smith Incorporated, in its capacity as sole lead arranger and sole book runner.
“Assignee Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed by the same investment advisor.
“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by Section 11.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit D-1 or any other form (including electronic documentation generated by MarkitClear or other electronic platform) approved by the Administrative Agent.
“Attributable Indebtedness” means, on any date, (a) in respect of any Capitalized Lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining lease payments under the relevant lease that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a Capitalized Lease.
“Audited Financial Statements” means the audited consolidated balance sheet of Holdings and its Subsidiaries for the fiscal year ended December 31, 2011, and the related consolidated statements of income 

or operations, shareholders' equity and cash flows for such fiscal year of Holdings and its Subsidiaries, including the notes thereto.
“Availability Period” means, with respect to the Committed Loans, the period from and including the Closing Date to the earliest of (a) the Maturity Date for the Committed Loans, (b) the date of termination of the Aggregate Commitments pursuant to Section 2.06, (c) the date of termination of the Revolving Commitment of each Revolving Lender to make Committed Loans and of the obligation of the L/C Issuer to make L/C Credit Extensions pursuant to Section 8.02 or (d) the date upon which the Borrower has repaid to the Administrative Agent and the Revolving Lenders the Total Revolving Outstandings and other Obligations with respect to the Committed Loans hereunder on such date and have terminated the Aggregate Commitments in accordance with Section 2.06.
“Bank of America” has the meaning specified in the first recital hereto.
“Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the LIBOR Rate plus 1.00%, and (c) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate.”  The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America's costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate.  Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change.
“Base Rate Committed Loan” means a Committed Loan that is a Base Rate Loan.
“Base Rate Loan” means a Loan that bears interest based on the Base Rate.
“Benefit Amount” has the meaning specified in Section 10.10(f).
“Borrower” has the meaning specified in the introductory paragraph hereto.
“Borrower's Materials” has the meaning specified in Section 6.02.
“Borrowing” means a Committed Borrowing, a Swing Line Borrowing, the Term A Loan Borrowing or a borrowing consisting of a portion of any other term loan advanced hereunder from time to time pursuant to Article II (including pursuant to Section 2.14), as the context may require.
“Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent's Office is located and, if such day relates to any LIBOR Rate Loan, means any such day that is also a London Banking Day.
“Capital Assets” means fixed assets, both tangible (such as land, buildings, fixtures, machinery and equipment) and intangible (such as patents, copyrights, trademarks, franchises and goodwill); provided that Capital Assets shall not include any item customarily charged directly to expense or depreciated over a useful life of twelve (12) months or less in accordance with GAAP.
“Capital Expenditures” means amounts paid or Indebtedness incurred by any Person in connection with (a) the purchase or lease by such Person of Capital Assets that would be required to be capitalized and shown on the balance sheet of such Person in accordance with GAAP and (b) the lease of any assets by such Person as lessee under any Synthetic Lease Obligation to the extent that such assets would have been Capital Assets had the Synthetic Lease Obligation been treated for accounting purposes as a Capitalized Lease.

“Capitalized Leases” means leases under which any Loan Party is the lessee or obligor, the discounted future rental payment obligations under which are required to be capitalized on the balance sheet of the lessee or obligor in accordance with GAAP.
“Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of one or more of the L/C Issuer or the Lenders, as collateral for L/C Obligations or obligations of the Lenders to fund participations in respect of L/C Obligations, cash or deposit account balances or, if the Administrative Agent and the L/C Issuer shall agree in their sole discretion, other credit support, in each case pursuant to documentation in form and substance satisfactory to the Administrative Agent and the L/C Issuer.  “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.
“Cash Equivalents” means:
(a)    a marketable obligation, maturing within one year after issuance thereof, issued, guaranteed or insured by the government of the United States or an instrumentality or agency thereof;
(b)    demand deposits, certificates of deposit, eurodollar time deposits, banker's acceptances, in each case, maturing within one year after issuance thereof, and overnight bank deposits, in each case, issued by any Lender, or a U.S. national or state bank or trust company or a European, Canadian or Japanese bank having capital, surplus and undivided profits of at least $1,000,000,000 and whose long-term unsecured debt has a rating of “A” or better by S&P or A2 or better by Moody's or the equivalent rating by any other nationally recognized rating agency (provided that the aggregate face amount of all Investments in certificates of deposit or bankers' acceptances issued by the principal offices of or branches of such non-Lender European or Japanese banks located outside the U.S. shall not at any time exceed 33 1/3% of all Investments described in this definition);
(c)    open market commercial paper, maturing within 180 days after issuance thereof, which has a rating of A-1 or better by S&P or P-1 or better by Moody's, or the equivalent rating by any other nationally recognized rating agency;
(d)    repurchase agreements and reverse repurchase agreements with a term not in excess of one year with any financial institution which has been elected a primary government securities dealer by the Federal Reserve Board or whose securities are rated AA− or better by S&P or Aa3 or better by Moody's or the equivalent rating by any other nationally recognized rating agency relating to marketable direct obligations issued or unconditionally guaranteed by the United States of America or any agency or instrumentality thereof and backed by the full faith and credit of the United States of America; and
(e)    shares of any money market mutual fund rated at least AAA or the equivalent thereof by S&P or at least Aaa or the equivalent thereof by Moody's or any other mutual fund at least 95% of the assets of which consist of the type specified in clauses (a) through (d) above.
“Cash Management Agreement” means any agreement with a Cash Management Bank to provide cash management services or other bank products, including treasury, depository, overdraft, credit or debit card, electronic funds transfer and other cash management arrangements.
“Cash Management Bank” means any Person that, at the time it enters into a Cash Management Agreement, is a Lender or an Affiliate of a Lender, in its capacity as a party to such Cash Management Agreement, but only for so long as such Person remains a Lender hereunder or an Affiliate of a Lender hereunder.

“CERCLA” means the Comprehensive Environmental Response, Compensation and Liability Act of 1980.
“CERCLIS” means the Comprehensive Environmental Response, Compensation and Liability Information System maintained by the U.S. Environmental Protection Agency.
“Change in Law” means the occurrence, after the date of this Agreement, of any of the following:  (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued.
“Change of Control” means an event or series of events by which:
(a)any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan and any Initial Shareholder) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a person or group shall be deemed to have “beneficial ownership” of all securities that such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time (such right, an “option right”)), directly or indirectly, of 35% or more of the equity securities of Holdings entitled to vote for members of the board of directors or equivalent governing body of Holdings on a fully-diluted basis (and taking into account all such securities that such person or group has the right to acquire pursuant to any option right);

(b)during any period of 24 consecutive months, a majority of the members of the board of directors or other equivalent governing body of Holdings cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body (excluding, in the case of both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office as, a member of that board or equivalent governing body occurs as a result of an actual or threatened solicitation of proxies or consents for the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more directors by or on behalf of the board of directors);

(c)any Person or two or more Persons acting in concert shall have acquired by contract or otherwise, or shall have entered into a contract or arrangement that, upon consummation thereof, will result in its or their acquisition of the power to exercise, directly or indirectly, a controlling influence over the management or policies of Holdings, or control over the equity securities of Holdings entitled to vote for members of the board of directors or equivalent governing body of Holdings on a fully-

diluted basis (and taking into account all such securities that such Person or group has the right to acquire pursuant to any option right) representing 35% or more of the combined voting power of such securities.

(d)Holdings shall cease to directly or indirectly own and control legally and beneficially 100% of the Equity Interests of the Borrower.

(e)A “change of control” shall occur under any Subordinated Debt.

“Closing Date” means the first date all the conditions precedent set forth in Section 4.01 are satisfied or waived in accordance with Section 11.01, which date is February 5, 2013.

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

“Collateral” shall mean any and all assets and rights and interests in or to property of the Loan Parties, whether real or personal, tangible or intangible, in which a Lien is granted or purported to be granted pursuant to the Collateral Documents.

“Collateral Documents” means the Security Agreement, the Securities Pledge Agreement, the Intellectual Property Security Agreement and all agreements, instruments and documents now or hereafter executed and delivered in connection with this Agreement pursuant to which Liens are granted or purported to be granted to the Administrative Agent in Collateral securing all or part of the Obligations each in form and substance satisfactory to the Administrative Agent.

“Commitment Fee” has the meaning specified in Section 2.09(a) hereof.

“Committed Borrowing” means a borrowing consisting of simultaneous Committed Loans of the same Type and, in the case of LIBOR Rate Committed Loans, having the same Interest Period made by each of the Revolving Lenders pursuant to Section 2.01(a) or Section 2.14.

“Committed Loan” has the meaning specified in Section 2.01(a).

“Committed Loan Notice” means a notice of (a) a Committed Borrowing, (b) a conversion of Committed Loans from one Type to the other, or (c) a continuation of Committed Loans that are LIBOR Rate Committed Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A-1.

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

“Conforming Amendment” has the meaning specified in Section 2.14(f).

“Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.

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

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

“Credit Agreement” means this Agreement, including the Schedules and Exhibits attached hereto.
“Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension.

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

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

“Default Rate” means (a) with respect to any Loan, the interest rate otherwise applicable to such Loan plus 2% per annum, (b) with respect to the L/C Fees, the Applicable Rate used in determining the L/C Fees plus 2% per annum, and (c) with respect to all other Obligations under this Agreement, an interest rate equal to the Base Rate plus the Applicable Rate otherwise applicable to Base Rate Loans plus 2% per annum.

“Defaulting Lender” means, subject to Section 2.16(b), any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Lender's determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, the L/C Issuer, the Swing Line Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or Swing Line Loans) within two Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent, the L/C Issuer or the Swing Line Lender in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender's obligation to fund a Loan hereunder and states that such position is based on such Lender's determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender.  Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above, and of the 

effective date of such status, shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.16(b)) as of the date established therefor by the Administrative Agent in a written notice of such determination, which shall be delivered by the Administrative Agent to the Borrower, the L/C Issuer, the Swing Line Lender and each other Lender promptly following such determination.

“Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (including any sale and leaseback transaction) of any property by any Person (or the grant of any option or other right to do any of the foregoing), including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith or entering into an agreement to do any of the foregoing.

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

“EBITDA” means, with respect to Holdings and its Subsidiaries for any period, net income for such period (excluding net income of Mirachem to the extent that such net income has not been distributed to the Borrower), plus (a) non-cash extraordinary non-recurring writedowns, writeoffs or impairments of, on, or related to, assets (including goodwill), including non-cash losses on the sale of assets outside the ordinary course of business to the extent included in net income for such period, plus (b) non-cash accounting charges resulting from the application of Accounting Standards Codification (“ASC”) Topic 815 to the extent included in net income for such period, plus (c) income taxes for such period, plus (d) interest expense for such period, plus (e) depreciation, depletion, amortization and non-cash compensation expenses for such period, plus (f) all other non-cash charges reasonably acceptable to the Administrative Agent minus (g) non-cash extraordinary gains on the sale of assets including non-cash gains on the sale of assets outside the ordinary course of business to the extent included in net income for such period, minus (h) non-cash extraordinary gains resulting from the application of ASC Topic 815 to the extent included in net income for such period, in each case without duplication.  Notwithstanding the foregoing, it is explicitly understood and agreed that net income of Holdings and its Subsidiaries attributable to amounts distributed to the Borrower by Mirachem in any Reference Period shall be reduced dollar-for-dollar by amounts invested by any Loan Party (other than Mirachem) in Mirachem during such Reference Period.

“ECP Guarantor” means any Guarantor that is an “eligible contract participant” as defined in Section 1a(18) of the Commodity Exchange Act and Regulation 1.3(m) promulgated by the Commodity Futures Trading Commission.

“Eligible Assignee” means any Person that meets the requirements to be an assignee under Sections 11.06(b)(iii) and (v) (subject to such consents, if any, as may be required under Section 11.06(b)(iii)).

“Environmental Laws” means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems.

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Loan Parties arising out of or as a result of (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 written contract, 

agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

“Environmental Permit” means any permit, approval, identification number, license or other authorization required under any Environmental Law.

“Equipment Operating Lease” means any lease of equipment which does not constitute a Capitalized Lease.

“Equity Interests” means, with respect to any Person, all of the shares of capital stock of any class of, or other ownership or profit interests in, such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on any date of determination.

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

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

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan (other than a Multiemployer Plan); (b) the withdrawal of any Loan Party or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by any Loan Party or any ERISA Affiliate from a Multiemployer Plan or notification or otherwise becoming aware that a Multiemployer Plan is in reorganization; (d) the filing of a notice of intent to terminate or the treatment of a Pension Plan (other than a Multiemployer Plan) amendment as a termination under Section 4041 of ERISA or notification or otherwise becoming aware of a filing of a notice of intent to terminate or the treatment of a Multiemployer Plan amendment as a termination under Section 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a Pension Plan (other than a Multiemployer Plan) or notification or otherwise becoming aware of the institution by the PBGC of proceedings to terminate a Multiemployer Plan; (f) any event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (g) the determination that any Pension Plan (other than a Multiemployer Plan) is considered an at-risk plan within the meaning of Section 430 of the Code of Section 303 of ERISA or notification or otherwise becoming aware that any Multiemployer Plan is considered a plan in endangered or critical status within the meaning of Sections 431 and 432 of the Code or Sections 304 and 305 of ERISA; or (h) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon any Loan Party or any ERISA Affiliate.

“Event of Default” has the meaning specified in Section 8.01.

“Excess Cash Flow” means, for any fiscal year of Holdings and its Subsidiaries, the excess (if any) of (a) EBITDA for such fiscal year minus (b) Net Working Capital Changes plus or minus (c) extraordinary cash items, minus (d) the sum of (i) interest expense actually paid in cash by Holdings and its Subsidiaries in 

such fiscal year, (ii) scheduled principal repayments, to the extent actually made in such fiscal year, of the Term A Loan pursuant to Section 2.07(c), and regularly scheduled repayments of principal of other permitted Indebtedness made in cash during such fiscal year to the extent not prohibited by this Agreement or any Subordination Agreement, (iii) all income taxes actually paid in cash by Holdings and its Subsidiaries in such fiscal year, (iv) Capital Expenditures actually made by Holdings and its Subsidiaries in such fiscal year, (v) cash purchase price paid in such period in connection with any Permitted Acquisitions and permitted Investments made during such period, and (vi) distributions paid in cash to holders of Holdings' common Equity Interests in accordance with Section 7.06.

“Exchange Act” means the Securities Exchange Act of 1934, as amended.

“Excluded Taxes” means any of the following Taxes imposed on or with respect to any Recipient  or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 11.13) or (ii) such Lender changes its Lending Office, except in each case to the extent that, pursuant to Section 3.01(a)(ii), (a)(iii) or (c), amounts with respect to such Taxes were payable either to such Lender's assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its Lending Office, (c) Taxes attributable to such Recipient's failure to comply with Section 3.01(e) and (d) any U.S. federal withholding Taxes imposed pursuant to FATCA.

“Existing Credit Agreement” has the meaning specified in the first recital hereto.

“Existing Letters of Credit” means all “Letters of Credit” (as defined in the Existing Credit Agreement) and set forth on Schedule 1.01(a).

“FASB ASC” means the Accounting Standards Codification of the Financial Accounting Standards Board.

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471 (b) (1) of the Code.

“Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as determined by the Administrative Agent.

“Fee Letter” means the letter agreement, dated as of December 18, 2012, among the Borrower, the Administrative Agent and Merrill Lynch, Pierce, Fenner & Smith Incorporated.

“Foreign Lender” means (a) if the Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if the Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes.  For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.

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

“Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to the L/C Issuer, such Defaulting Lender's Applicable Percentage of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender's participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting Lender's Applicable Percentage of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender's participation obligation has been reallocated to other Lenders in accordance with the terms hereof.

“Fuel Derivatives Obligations” means fuel price swaps, fuel price caps and fuel price collar and floor agreements, and similar agreements or arrangements designed to protect against or manage fluctuations in fuel prices.

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

“Funded Debt” means, at any time of determination, collectively, without duplication, whether classified as Indebtedness or otherwise on the balance sheet of Holdings and its Subsidiaries, (a) the aggregate amount of (i) all Indebtedness for borrowed money or credit obtained or other similar monetary obligations, direct or indirect, (including any unpaid reimbursement obligations with respect to letters of credit, but excluding any contingent obligations with respect to letters of credit outstanding), (ii) all obligations evidenced by notes, bonds, debentures, or other similar debt instruments (other than performance bonds, if any), (iii) the deferred purchase price of assets or services (other than trade payables incurred in the ordinary course of business not more than 60 days past due), and (iv) all obligations, liabilities and indebtedness under Capitalized Leases and Synthetic Lease Obligations which correspond to principal, plus (b) Indebtedness of the type referred to in clause (a) of another Person Guaranteed by Holdings or any of its Subsidiaries.

“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied.  

“Governmental Authority” means the  government of the United States or  any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank).

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

“Guarantors” means, collectively, Holdings, the Subsidiaries of the Borrower listed on Schedule 5.13 and each other Subsidiary of the Borrower that shall be required to execute and deliver a guaranty or guaranty supplement pursuant to Section 6.14.

“Guaranty” means, collectively, the Guaranty made by the Guarantors under Article X in favor of the Secured Parties, together with each other guaranty and guaranty supplement delivered pursuant to Section 6.14.

“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.

“Hedge Agreement” means any Swap Contract required or permitted under Article VI or VII that is entered into by and between any Loan Party and any Hedge Bank.

“Hedge Bank” means any Person that, at the time it enters into a Swap Contract required or permitted under Article VI or VII, is a Lender or an Affiliate of a Lender, in its capacity as a party to such Swap Contract or, with respect to a Swap Contract permitted hereunder and entered into prior to the Closing Date, any Person that is a Lender or an Affiliate of a Lender on the Closing Date, in its capacity as a party to such Swap Contract (so long as such Lender or Affiliate has provided notice of such Swap Contract to the Administrative Agent on or prior to the Closing Date); provided, that a Person shall remain a Hedge Bank hereunder only for so long as such Person remains a Lender hereunder or an Affiliate of a Lender hereunder.

“Hedge Obligations” has the meaning specified in Section 10.01.

“Holdings” has the meaning specified in the introductory paragraph hereto.

“Indebtedness” means, as to any Person and whether recourse is secured by or is otherwise available against all or only a portion of the assets of such Person and whether or not contingent, but without 

duplication:
(a)every obligation of such Person for money borrowed,

(b)every obligation of such Person evidenced by bonds, debentures, notes issued by such Person or other similar instruments, including such obligations incurred in connection with the acquisition of property, assets or businesses,

(c)all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial), bankers' acceptances, bank guaranties, surety bonds and similar instruments,

(d)every obligation of such Person issued or assumed as the deferred purchase price of property or services (including securities repurchase agreements but excluding (x) trade accounts payable or accrued liabilities arising in the ordinary course of business which are not overdue in accordance with their terms or the Loan Parties' normal or ordinary business practices or which are being contested in good faith; and (y) holdbacks,

(e)indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse;

(f)all Attributable Indebtedness in respect of Capitalized Leases and Synthetic Lease Obligations of such Person;

(g)all obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any Equity Interest in such Person or any other Person, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; 

(h)all sales by such Person of (i) accounts or general intangibles for money due or to become due, (ii) chattel paper, instruments or documents creating or evidencing a right to payment of money or (iii) other receivables (collectively “receivables”), whether pursuant to a purchase facility or otherwise, other than in connection with the disposition of the business operations of such Person relating thereto or a disposition of defaulted receivables for collection and not as a financing arrangement, and together with any obligation of such Person to pay any discount, interest, fees, indemnities, penalties, recourse, expenses or other amounts in connection therewith,

(i)every obligation of such Person (an “equity related purchase obligation”) to purchase, redeem, retire or otherwise acquire for value any Equity Interests of any class issued by such Person, any warrants, options or other rights to acquire any such shares, or any rights measured by the value of such shares, warrants, options or other rights, and

(j)all Guarantees of such Person in respect of any of the foregoing.

For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person.  The amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date.  The amount of 

any capital lease or Synthetic Lease Obligation as of any date shall be deemed to be the amount of Attributable Indebtedness in respect thereof as of such date.

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes.

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

“Information” has the meaning specified in Section 11.07.

“Initial Shareholders” means the Persons listed on Schedule 1.01(b).

“Instrument of Accession” has the meaning specified in Section 2.14(c).

“Intellectual Property Security Agreement” means that certain amended and restated intellectual property security agreement, dated as of the Closing Date, by the Loan Parties in favor of the Administrative Agent, for the benefit of the Secured Parties.

“Interest Coverage Ratio” has the meaning specified in Section 7.11(b).

“Interest Expense” means, for any period, the aggregate amount of interest required to be paid or accrued by the Loan Parties, as determined in accordance with GAAP on a consolidated basis, during such period on all Indebtedness of the Loan Parties outstanding during all or any part of such period, whether such interest was or is required to be reflected as an item of expense or capitalized, including payments consisting of interest in respect of any Capitalized Lease or any Synthetic Lease Obligation, and including commitment fees, agency fees, balance deficiency fees and similar fees or expenses for such period in connection with the borrowing of money or any deferred purchase price obligation, but excluding therefrom (a) the non-cash amortization of debt issuance costs (including any initial arrangement, structuring or up-front fees paid in connection with this Agreement); and (b) the write-off of deferred financing fees and charges, if any, in connection with the Existing Credit Agreement that are classified as interest under GAAP.

“Interest Payment Date” means, (a) as to any Loan other than a Base Rate Loan, the last day of each Interest Period applicable to such Loan and the Maturity Date for such Loan; provided, however, that if any Interest Period for a LIBOR Rate Loan exceeds three months, the respective dates that fall every three months after the beginning of such Interest Period shall also be Interest Payment Dates, (b) as to any Base Rate Loan (excluding Swing Line Loans), the last Business Day of each March, June, September and December and the Maturity Date for such Loan, and (c) as to any Swing Line Loan, the last Business Day of each March, June, September and December, the date when such Swing Line Loan is repaid and the Maturity Date for the Committed Loans.

“Interest Period” means, as to each LIBOR Rate Loan, the period commencing on the date such LIBOR Rate Loan is disbursed or converted to or continued as a LIBOR Rate Loan and ending on the date one, two, three or six months thereafter, as selected by the Borrower in a Loan Notice and subject to the availability thereof from each Lender; provided that:

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

(b)    any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and

(c)    no Interest Period shall extend beyond the Maturity Date for such Loan.

“Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition (or assumption, as applicable) of capital stock or other Equity Interests, Indebtedness, assets constituting a business unit or all or a substantial part of the business of, another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the investor Guarantees Indebtedness of such other Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit.  For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment.

“IRS” means the United States Internal Revenue Service.

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance).

“Issuer Documents” means with respect to any Letter of Credit, the L/C Application, and any other document, agreement and instrument entered into by the L/C Issuer and any Loan Party or in favor of the L/C Issuer and relating to any such Letter of Credit.

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

“L/C Advance” means, with respect to each Revolving Lender, such Revolving Lender's funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

“L/C Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

“L/C Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Committed Borrowing.

“L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

“L/C Expiration Date” means the day that is seven days prior to the Maturity Date then in effect for the Committed Loans (or, if such day is not a Business Day, the next preceding Business Day).

“L/C Fee” has the meaning specified in Section 2.03(h).

“L/C Issuer” means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

“L/C Obligations” means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06.  For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

“Lender” has the meaning specified in the introductory paragraph hereto and, unless the context requires otherwise, includes the Swing Line Lender.

“Lending Office” means, as to any Lender, the office or offices of such Lender described as such in such Lender's Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent.

“Letter of Credit” means any standby letter of credit issued hereunder providing for the payment of cash upon the honoring of a presentation thereunder and shall include Existing Letters of Credit.

“Leverage Ratio” has the meaning specified in Section 7.11(a).

“LIBOR Rate” means,

(a)    for any Interest Period with respect to a LIBOR Rate Loan, the rate per annum equal to (i) the British Bankers Association LIBOR Rate or the successor thereto if the British Bankers Association is no longer making a LIBOR rate available (“LIBOR”), as published by Reuters (or such other commercially available source providing quotations of LIBOR as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two (2) London Banking Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period or, (ii) if such rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the first day of such Interest Period in same day funds in the approximate amount of the LIBOR Rate Loan being made, continued or converted and with a term equivalent to such Interest Period would be offered by Bank of America's London Branch to major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (London time) two (2) London Banking Days prior to the commencement of such Interest Period; and

(b)    for any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to (i) LIBOR, at approximately 11:00 a.m., London time determined two (2) London Banking Days prior to such date for Dollar deposits being delivered in the London interbank market for a term of one month commencing that day or (ii) if such published rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the date of determination in same day funds in the approximate amount of the Base Rate Loan being made or maintained and with a term equal to one month would be offered by 

Bank of America's London Branch to major banks in the London interbank Eurodollar market at their request at the date and time of determination.

“LIBOR Rate Loan” means a Loan that bears interest at a rate based on clause (a) of the definition of LIBOR Rate.

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing).

“Loan” means an extension of credit by a Lender to the Borrower under Article II in the form of a Committed Loan, a Swing Line Loan, a Term A Loan or any other term loan advanced hereunder from time to time pursuant to Article II (including pursuant to Section 2.14) and “Loans” shall mean all of such extensions of credit collectively.

“Loan Documents” means this Agreement, each Note, each Issuer Document, the Fee Letter, the Collateral Documents, each joinder agreement and related documents entered into or delivered by a Subsidiary of the Borrower in connection with such Subsidiary becoming a Guarantor hereunder, the Subordination Agreements and any documents, instruments or agreements executed in connection with any of the foregoing.

“Loan Notice” means a Committed Loan Notice, a Swing Line Loan Notice, a Term A Loan Notice or a similar notice relating to any other term loan advanced hereunder from time to time pursuant to Article II (including pursuant to Section 2.14).

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

“London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market.

“Losses” has the meaning set forth in Section 5.09(a).

“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect on, the operations, business, assets, properties, liabilities (actual or contingent) or condition (financial or otherwise) of the Borrower, the Borrower and its Subsidiaries taken as a whole, or Holdings; (b) a material impairment of the rights and remedies of the Administrative Agent or any Lender under any Loan Document, or of the ability of the Borrower or any Guarantor to perform its obligations under any Loan Document to which it is a party; or (c) a material adverse effect upon (i) the legality, validity, binding effect or enforceability against the Borrower or any Guarantor of any Loan Document to which it is a party, or (ii) the rights and remedies of the Administrative Agent and/or the Secured Parties under the Loan Documents.

“Maturity Date” means February 5, 2018.

“Minimum Collateral Amount” means, at any time, (i) with respect to Cash Collateral consisting of cash or deposit account balances provided to reduce or eliminate Fronting Exposure during the existence of a Defaulting Lender, an amount equal to 105% of the Fronting Exposure of the L/C Issuer with respect to Letters of Credit issued and outstanding at such time, (ii) with respect to Cash Collateral consisting of cash or deposit 

account balances provided in accordance with the provisions of Section 2.15(a)(i), (a)(ii) or (a)(iii), an amount equal to 105% of the Outstanding Amount of all LC Obligations, and (iii) otherwise, an amount determined by the Administrative Agent and the L/C Issuer in their sole discretion.

“Mirachem” means Mirachem, LLC, a Delaware limited liability company.

“Motor Vehicles” means vehicles, trucks, trailers, tractors, automobiles and any other equipment covered by a certificate of title.

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

“Multiple Employer Plan” means a Plan which has two or more contributing sponsors (including any Loan Party or any ERISA Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA.

“Net Working Capital Changes” means, with respect to Holdings and its Subsidiaries, for any fiscal year and without duplication, the difference (expressed as a positive or a negative number) of (a) the sum of (i) both billed and unbilled accounts receivable, plus (ii) inventory of Holdings and its Subsidiaries and other current assets considered part of working capital in accordance with GAAP, minus (iii) current accounts payable of Holdings and its Subsidiaries, minus (iv) current accruals and accretions (exclusive of interest accruals and accretions) of Holdings and its Subsidiaries, in each case, at the end of such fiscal year, minus (b) the sum of (i) both billed and unbilled accounts receivable, plus, (ii) inventory of Holdings and its Subsidiaries and other current assets considered part of working capital in accordance with GAAP, minus (iii) current accounts payable of Holdings and its Subsidiaries, minus (iv) current accruals and accretions (exclusive of interest accruals and accretions) of Holdings and its Subsidiaries, in each case, at the end of the fiscal year immediately prior to such fiscal year.

“Non-Consenting Lender” means any Lender that does not approve any consent, waiver or amendment that (i) requires the approval of all Lenders or all affected Lenders in accordance with the terms of Section 11.01 and (ii) has been approved by the Required Lenders.

“Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting Lender at such time.

“Non-ECP Guarantor” means any Guarantor that is not an “eligible contract participant” as defined in Section 1a(18) of the Commodity Exchange Act and Regulation 1.3(m) promulgated by the Commodity Futures Trading Commission.

“Note” means a Revolving Credit Note, a Swing Line Note, a Term A Note or a promissory note representing any term loan advanced hereunder from time to time pursuant to Article II (including pursuant to Section 2.14), as the context may require.

“Obligations” means all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, or arising under any Hedge Agreement or any Cash Management Agreement, in each case whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party or any 

Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding.

“OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury.

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

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

“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 3.06).

“Outstanding Amount” means (i) with respect to Committed Loans and Swing Line Loans on any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Committed Loans and Swing Line Loans, as the case may be, occurring on such date; (ii) with respect to any L/C Obligations on any date, the amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements by the Borrower of Unreimbursed Amounts; and (iii) with respect to the Term A Loan or any other term loan to the extent advanced hereunder from time to time pursuant to Article II (including pursuant to Section 2.14), the outstanding principal amount of the Term A Loan or such other term loan, as applicable, on such date.

“Participant” has the meaning specified in Section 11.06(d).

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

“PBGC” means the Pension Benefit Guaranty Corporation.

“Pension Act” means the Pension Protection Act of 2006.

“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions (including any installment payment thereof) to Pension Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act and, thereafter, Section 412, 430, 431, 432 and 436 of the Code and 

Sections 302, 303, 304 and 305 of ERISA.

“Pension Plan” means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that is maintained or is contributed to by any Loan Party and any ERISA Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code.

“Permitted Acquisition” has the meaning specified in Section 7.04(c).

“Permitted Lien” means any Lien permitted pursuant to Section 7.01.

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

“Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA (including a Pension Plan), maintained for employees of any Loan Party or any ERISA Affiliate or any such Plan to which any Loan Party or any ERISA Affiliate is required to contribute on behalf of any of its employees.

“Platform” has the meaning specified in Section 6.02.

“Public Lender” has the meaning specified in Section 6.02.

“Real Estate” means all real property at any time owned or leased (as lessee or sublessee) by any Loan Party.

“Recipient” means the Administrative Agent, any Lender, the L/C Issuer or any other recipient of any payment to be made by or on account of any obligation of any Loan Party hereunder.

“Reference Period” means, as of any date of determination, the most recently completed fifty-two (or fifty-three, as applicable) consecutive weeks (comprised of the four quarterly periods for which Holdings prepares its financial reporting) ending on such date.

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

“Registered Public Accounting Firm” has the meaning specified in the Securities Laws and shall be independent of the Loan Parties as prescribed by the Securities Laws.

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

“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day notice period has been waived.

“Request for Credit Extension” means (a) with respect to a Borrowing, conversion or continuation of Loans, a Committed Loan Notice, a Term A Loan Notice or a Loan Notice delivered in connection with any other term loan advanced hereunder from time to time pursuant to Article II (including pursuant to Section 2.14), as the case may be, (b) with respect to an L/C Credit Extension, an L/C Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.

“Required Lenders” means, at any time, Lenders having Total Credit Exposures representing more than 50% of the Total Credit Exposures of all Lenders; provided, that any time that there are three (3) or less Lenders who are not Affiliates, a minimum of two (2) Lenders who are not Affiliates shall be necessary to constitute “Required Lenders.”  The Total Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Lenders at any time; provided that, the amount of any participation in any Swing Line Loan and Unreimbursed Amounts that such Defaulting Lender has failed to fund that have not been reallocated to and funded by another Lender shall be deemed to be held by the Lender that is the Swing Line Lender or L/C Issuer, as the case may be, in making such determination.

“Responsible Officer” means the chief executive officer, president, chief operating officer, chief financial officer, chief accounting officer, treasurer or assistant treasurer of a Loan Party, and solely for purposes of the delivery of incumbency certificates pursuant to Section 4.01, the secretary or any assistant secretary of a Loan Party.  Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party.

“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to any capital stock or other Equity Interest of the Loan Parties or their Subsidiaries, 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 capital stock or other Equity Interest or on account of any return of capital to the Loan Parties' stockholders, partners or members (or the equivalent Person thereof); in each case, other than to another Loan Party.

“Revolving Commitment” means, as to each Revolving Lender, its obligation to (a) make Committed Loans to the Borrower pursuant to Section 2.01(a), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender's name on Schedule 2.01 under the caption “Revolving Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

“Revolving Credit Exposure” means, as to any Revolving Lender at any time, the aggregate principal amount at such time of its outstanding Committed Loans and such Revolving Lender's participation in L/C Obligations and Swing Line Loans at such time.

“Revolving Credit Note” means a promissory note made by the Borrower in favor of a Revolving Lender evidencing Revolving Loans or Swing Line Loans, as the case may be, made by such Revolving Lender, substantially in the form of Exhibit B-1.

“Revolving Lender” means, at any time, any Lender that has a Revolving Commitment at such time.

“Sanction(s)” means any international economic sanction administered or enforced by OFAC, the United Nations Security Council, the European Union, Her Majesty's Treasury or other relevant sanctions authority.

“Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002.

“Secured Parties” means, collectively, the Administrative Agent, the Lenders, the L/C Issuer, the Hedge Banks, the Cash Management Banks, each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 9.05, and the other Persons the Obligations owing to which are or are purported to be secured by the Collateral under the terms of the Collateral Documents.

“Securities Laws” means the Securities Act of 1933, the Exchange Act, Sarbanes-Oxley and the applicable accounting and auditing principles, rules, standards and practices promulgated, approved or incorporated by the SEC or the Public Company Accounting Oversight Board, as each of the foregoing may be amended and in effect on any applicable date hereunder.

“Securities Pledge Agreement” means that certain amended and restated master securities pledge agreement, dated as of February 5, 2013, by each of the Loan Parties in favor of the Administrative Agent, for the benefit of the Secured Parties.

“Security Agreement” means that certain amended and restated security agreement, dated as of February 5, 2013, by each of the Loan Parties in favor of the Administrative Agent, for the benefit of the Secured Parties.

“Solvent” and “Solvency” mean, with respect to any Person on any date of determination, that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair salable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person's ability to pay such debts and liabilities as they mature, (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person's property would constitute an unreasonably small capital, and (e) such Person is able to pay its debts and liabilities, contingent obligations and other commitments as they mature in the ordinary course of business.  The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.

“Subordinated Debt” means unsecured Indebtedness of the Loan Parties (or any one of them) which has been subordinated and made junior to the payment and performance in full in cash of the Obligations, and evidenced as such by a subordination agreement on terms and containing subordination provisions acceptable to the Administrative Agent.

“Subordination Agreement” means (a) any subordination agreement entered into with the holder of any Subordinated Debt and (b) the provisions governing subordination of any Subordinated Debt whether in the form of an agreement as contemplated in clause (a) above or included in the terms of such Indebtedness, in each case in a form and containing terms acceptable to the Administrative Agent.

“Subordination Provisions” has the meaning specified in Section 8.01(k).

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such 

Person.  Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Borrower set forth on Schedule 5.13 hereto.  

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

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

“Swing Line” means the revolving credit facility made available by the Swing Line Lender pursuant to Section 2.04.

“Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to Section 2.04.

“Swing Line Lender” means Bank of America in its capacity as provider of Swing Line Loans, or any successor swing line lender hereunder.

“Swing Line Loan” has the meaning specified in Section 2.04(a).

“Swing Line Loan Notice” means a notice of a Swing Line Borrowing pursuant to Section 2.04(b), which, if in writing, shall be substantially in the form of Exhibit A-2.

“Swing Line Note” means a promissory note made by the Borrower in favor of the Swing Line Lender evidencing Swing Line Loans made by the Swing Line Lender, substantially in the form of Exhibit B-2.

“Swing Line Sublimit” means an amount equal to the lesser of (a) $5,000,000 and (b) the Aggregate Commitments.  The Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments.

“Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to 

accounting treatment).

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

“Term A Lender” means the Lenders holding a portion of the Term A Loan, as set forth in Schedule 2.01 as of the Closing Date (as such Schedule 2.01 may be amended from time to time), together with any other Person who becomes an assignee of any rights and obligations of a Term A Lender.

“Term A Loan” means the term loan advanced or to be advanced in accordance with Section 2.01(b) in the original principal amount of $20,000,000, as such amount may be reduced or increased pursuant to the terms hereof.

“Term A Loan Borrowing” means a borrowing consisting of any portions of the Term A Loan of the same Type and, in the case of LIBOR Rate Loans, having the same Interest Period, advanced by the Term A Lenders pursuant to Section 2.01(b) or Section 2.14. 

“Term A Loan Notice” means a notice of (a) a Term A Loan Borrowing, (b) a conversion of any portion of the Term A Loan from one Type to the other, or (c) a continuation of LIBOR Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A-3.

“Term A Note” means a promissory note made by the Borrower in favor of a Term A Lender, evidencing the portion of the Term A Loan advanced by such Term A Lender, substantially in the form of Exhibit B-3.

“Term Loan Exposure” means, as to any Lender at any time, the aggregate principal amount at such time of its outstanding share of the Term A Loan and any term loan advanced hereunder from time to time pursuant to Article II (including pursuant to Section 2.14).

“Threshold Amount” means $2,000,000.

“Total Facility Amount” means, as at any date of determination, the sum of (i) the Aggregate Commitments plus (ii) the aggregate Outstanding Amount of the Term A Loan, plus (iii) the aggregate Outstanding Amount of any other term loan advanced hereunder from time to time pursuant to Article II (including pursuant to Section 2.14), as the same may be increased from time to time pursuant to Section 2.14 hereof or reduced from time to time in accordance with the terms hereof.  As of the Closing Date, the Total Facility Amount shall be equal to $40,000,000.

“Total Credit Exposure” means, as to any Lender at any time, the unused Revolving Commitments, Revolving Credit Exposure and Term Loan Exposure of such Lender at such time.

“Total Revolving Outstandings” means the aggregate Outstanding Amount of Committed Loans, Swing Line Loans and L/C Obligations.

“Type” means, with respect to a Loan, its character as a Base Rate Loan or a LIBOR Rate Loan.

“UCC” means the Uniform Commercial Code as in effect in the State of New York; provided that, if perfection or the effect of perfection or non-perfection or the priority of any security interest in any 

Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, “UCC” means the Uniform Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection or priority.

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

“Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i).

“U.S. Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code.

“U.S. Tax Compliance Certificate” has the meaning specified in Section 3.01(e)(ii)(B)(III).

1.02  Other Interpretive Provisions  .   With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document:

(a)  The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined.  Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms.  The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.”  The word “will” shall be construed to have the same meaning and effect as the word “shall.”  Unless the context requires otherwise, (i) any definition of or reference to any agreement, instrument or other document (including any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person's successors and assigns, (iii) the words “hereto,” “herein,” “hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision thereof, (iv) all references in a Loan Document to Preliminary Statements, Articles, Sections, Exhibits and Schedules shall be construed to refer to Preliminary Statements, Articles and Sections of, and Exhibits and Schedules to, the Loan Document in which such references appear, (v) any reference to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time, and (vi) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights.

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

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

1.03  Accounting Terms

(a)Generally. All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited 

Financial Statements, except as otherwise specifically prescribed herein.  Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of the Loan Parties and their Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 on financial liabilities shall be disregarded.

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

(c)Consolidation of Variable Interest Entities.  All references herein to consolidated financial statements of Holdings and its Subsidiaries or to the determination of any amount for Holdings and its Subsidiaries on a consolidated basis or any similar reference shall, in each case, be deemed to include each variable interest entity that Holdings is required to consolidate pursuant to FASB ASC 810 as if such variable interest entity were a Subsidiary as defined herein.
    
1.04  Rounding  .   Any financial ratios required to be maintained by the Loan Parties pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number).

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

1.06  Letter of Credit Amounts  .    Unless otherwise specified herein the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.

ARTICLE II.
THE COMMITMENTS AND CREDIT EXTENSIONS

2.01.  The Loans.

(a)The Committed Loans.  Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Committed Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an  aggregate amount not to exceed at any time outstanding the amount of such Lender's Revolving Commitment; provided, however, that after giving effect to any Committed Borrowing, (i) the Total Revolving Outstandings shall not exceed the Aggregate Commitments, and (ii) the Revolving Credit Exposure of any Lender shall not exceed such Revolving Lender's 

Revolving Commitment (other than as described in Section 2.04 with respect to the Swing Line Lender).  Within the limits of each Revolving Lender's Revolving Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(a), prepay under Section 2.05, and reborrow under this Section 2.01(a).  Committed Loans may be Base Rate Loans or LIBOR Rate Loans, as further provided herein.  The Borrower promises to pay to the Administrative Agent, for the account of the Revolving Lenders, all amounts due under the Committed Loans on the Maturity Date applicable thereto or such earlier date as is required hereunder.

(b)The Term A Loan Borrowing.  Subject to the terms and conditions set forth herein, each Term A Lender severally agrees to make a single loan to the Borrower on the Closing Date in an amount not to exceed such Term A Lender's Applicable Percentage.  The Term A Loan Borrowing shall consist of Loans made simultaneously by the Term A Lenders in accordance with their respective Applicable Percentages.  Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed.  Term A Loan may be comprised of Base Rate Loans or LIBOR Rate Loans as further provided herein.  The Borrower promises to pay to the Administrative Agent, for the account of the Term A Lenders, all amounts due under the Term A Loan on the Maturity Date applicable thereto or such earlier date as required hereunder.  It is understood and agreed that no portion of the Term A Loan shall be advanced after the Closing Date.

2.02.  Borrowings, Conversions and Continuations of Loans.

(a)Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of LIBOR Rate Loans shall be made upon the Borrower's irrevocable notice to the Administrative Agent, which may be given by telephone.  Each such notice must be received by the Administrative Agent not later than 11:00 a.m. (i) not less than three (3) Business Days prior to the requested date of any Borrowing of, conversion to or continuation of LIBOR Rate Loans or of any conversion of LIBOR Rate Loans to Base Rate Loans, and (ii) not less than one (1) Business Day prior to the requested date of any Borrowing of Base Rate Loans.  Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower.  Each Borrowing of, conversion to or continuation of LIBOR Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof.  Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $10,000 in excess thereof.  Each Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower is requesting a Committed Borrowing, a Term A Loan Borrowing any other Borrowing, a conversion of Loans from one Type to the other or a change in the Interest Period for any LIBOR Rate Loan, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Loans are to be converted and (v) if applicable, the duration of the Interest Period with respect thereto.  Unless the Borrower notifies the Administrative Agent of their election to change the Type of and/or Interest Period for any Loan, then the applicable Loan shall continue to be the same Type and/or for the same Interest Period as was in effect during the immediately preceding Interest Period; unless such Interest Period would extend beyond the Availability Period, in which case such Loan shall be made as, or converted to, a Base Rate Loan.  Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable LIBOR Rate Loans.  If the Borrower requests a Borrowing of, conversion to, or continuation of LIBOR Rate Loans in any such Loan Notice, but fail to specify an Interest Period, they will be deemed to have specified an Interest Period of one month.

(b)Following receipt of a Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Applicable Percentage of the applicable Loans, and if no timely notice of a conversion or 

continuation is provided by the Borrower, the Administrative Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans described in the preceding subsection.  In the case of a Committed Borrowing, a Term A Loan Borrowing or any other Borrowing (as applicable), each applicable Lender shall make the amount of its Loan available to the Administrative Agent in immediately available funds at the Administrative Agent's Office not later than 1:00 p.m. on the Business Day specified in the applicable Loan Notice.  Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the Borrower on the books of Bank of America with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided, however, that if, on the date a Committed Loan Notice with respect to a Committed Borrowing is given by the Borrower, there are L/C Borrowings outstanding, then the proceeds of such Committed Borrowing first, shall be applied, to the payment in full of any such L/C Borrowings, and second, shall be made available to the Borrower as provided above.

(c)Except as otherwise provided herein, a LIBOR Rate Loan may be continued or converted only on the last day of an Interest Period for such LIBOR Rate Loan.  During the existence of a Default, no Loans may be requested as, converted to or continued as LIBOR Rate Loans without the consent of the Required Lenders, and the Required Lenders may demand that any or all of the outstanding LIBOR Rate Loans be converted immediately to Base Rate Loans and the Borrower agrees to pay all amounts due under Section 3.05 in accordance with the terms thereof due to any such conversion.

(d)The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest Period for LIBOR Rate Loans upon determination of such interest rate.

(e)After giving effect to all Borrowings, all conversions of Loans from one Type to the other, and all continuations of Loans as the same Type, there shall not be more than ten (10) Interest Periods in effect with respect to Loans.

2.03.    Letters of Credit

(a)The Letter of Credit Commitment.

(i)Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the agreements of the Revolving Lenders set forth in this Section 2.03, (1) from time to time on any Business Day during the period from the Closing Date until the L/C Expiration Date, to issue Letters of Credit for the account of the Borrower, and to amend or extend Letters of Credit previously issued by it, in accordance with subsection (b) below, and (2) to honor drawings under the Letters of Credit; and (B) the Revolving Lenders severally agree to participate in Letters of Credit issued for the account of the Borrower and any drawings thereunder; provided that after giving effect to any L/C Credit Extension with respect to any Letter of Credit, (x) the Total Revolving Outstandings shall not exceed the Aggregate Commitments, or (y) Revolving Credit Exposure of any Lender shall not exceed such Revolving Lender's Revolving Commitment.  Each request by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence.  Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower's ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed.  All Existing Letters of Credit shall be deemed to have been issued 

pursuant hereto, and from and after the Closing Date shall be subject to and governed by the terms and conditions hereof.

(ii)    The L/C Issuer shall not issue any Letter of Credit, if:

(A)subject to Section 2.03(b)(iii), the expiry date of such requested Letter of Credit would occur more than twelve (12) months after the date of issuance or last extension, unless Revolving Lenders holding in excess of fifty percent (50%) of the Aggregate Commitments have approved such expiry date; provided, however, that, subject to Section 2.03(b)(iii), any Letter of Credit with a one-year term may provide for renewal for additional one-year periods, not extending beyond the Maturity Date; or

(B)the expiry date of such requested Letter of Credit would occur after the L/C Expiration Date, unless Revolving Lenders holding in excess of fifty percent (50%) of the Aggregate Commitments have approved such expiry date (it being agreed that following the L/C Expiration Date, any outstanding Letter of Credit would be required to be cash collateralized by the Borrower).

(iii)        The L/C Issuer shall be under no obligation to issue any Letter of Credit if:

(A)any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the L/C Issuer from issuing such Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the L/C Issuer with respect to such Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which the L/C Issuer in good faith deems material to it;

(B)the issuance of such Letter of Credit would violate one or more policies of the L/C Issuer applicable to letters of credit generally;

(C)except as otherwise agreed by the Administrative Agent and the L/C Issuer, such Letter of Credit is in an initial stated amount less than $5,000;

(D)such Letter of Credit is to be denominated in a currency other than Dollars; or

(E)any Revolving Lender is at that time a Defaulting Lender, unless the L/C Issuer has entered into arrangements, including the delivery of Cash Collateral, satisfactory to the L/C Issuer (in its sole discretion) with the Borrower or such Defaulting Lender to eliminate the L/C Issuer's actual or potential Fronting Exposure (after giving effect to Section 2.16(a)(iv)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which the L/C Issuer has actual or potential Fronting Exposure, as it may elect in its sole discretion.
(iv)    The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be permitted at such time to issue such Letter of Credit in its amended form under the terms hereof.

(v)    The L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) the L/C Issuer would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter of Credit.

(vi)    The L/C Issuer shall act on behalf of the Revolving Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to any acts taken or omissions suffered by the L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “the Administrative Agent” as used in Article IX included the L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to the L/C Issuer.

(b)    Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit.

(i)Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to the L/C Issuer (with a copy to the Administrative Agent) in the form of a L/C Application, appropriately completed and signed by a Responsible Officer of the Borrower.  Such L/C Application may be sent by facsimile, by United States mail, by overnight courier, by electronic transmission using the system provided by the L/C Issuer, by personal delivery or by any other means acceptable to the L/C Issuer.  Such L/C Application must be received by the L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least two (2) Business Days (or such later date and time as the Administrative Agent and the L/C Issuer may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be.  In the case of a request for an initial issuance of a Letter of Credit, the related L/C Application shall specify in form and detail satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the purpose and nature of the requested Letter of Credit; and (H) such other matters as the L/C Issuer may reasonably require.  In the case of a request for an amendment of any outstanding Letter of Credit, such L/C Application shall specify in form and detail satisfactory to the L/C Issuer (w) the Letter of Credit to be amended; (x) the proposed date of amendment thereof (which shall be a Business Day); (y) the nature of the proposed amendment; and (z) such other matters as the L/C Issuer may reasonably require.  Additionally, the Borrower shall furnish to the L/C Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer or the Administrative Agent may reasonably require.

(ii)Promptly after receipt of any L/C Application at the address set forth in Section 11.02 for receiving L/C Applications and related correspondence, the L/C Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such L/C Application from the Borrower and, if not, the L/C Issuer will provide the Administrative Agent with a copy thereof.  Unless the L/C Issuer has received written notice from any Revolving Lender, the Administrative Agent or the Borrower, at least one (1) Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions in Article IV shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the 

applicable amendment, as the case may be, in each case in accordance with the L/C Issuer's usual and customary business practices.  Immediately upon the issuance of each Letter of Credit, each Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Revolving Lender's Applicable Percentage times the amount of such Letter of Credit.

(iii)If the Borrower so requests in any applicable L/C Application, the L/C Issuer may, in its sole and absolute discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued.  Unless otherwise directed by the L/C Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer for any such extension.  Once an Auto-Extension Letter of Credit has been issued, the Revolving Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the extension of such Letter of Credit at any time prior to an expiry date not later than the L/C Expiration Date; provided, however, that the L/C Issuer shall not permit any such extension if (A) the L/C Issuer has determined that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven (7) Business Days before the Non-Extension Notice Date (1) from the Administrative Agent that Revolving Lenders holding in excess of fifty percent (50%) of the Aggregate Commitments have elected not to permit such extension or (2) from the Administrative Agent, any Revolving Lender or the Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied, and in each such case directing the L/C Issuer not to permit such extension.

(iv)If the Borrower so requests in any applicable L/C Application, the L/C Issuer may, in its sole and absolute discretion, agree to issue a Letter of Credit that permits the automatic reinstatement of all or a portion of the stated amount thereof after any drawing thereunder (each, an “Auto-Reinstatement Letter of Credit”).  Unless otherwise directed by the L/C Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer to permit such reinstatement.  Once an Auto-Reinstatement Letter of Credit has been issued, except as provided in the following sentence, the Revolving Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to reinstate all or a portion of the stated amount thereof in accordance with the provisions of such Letter of Credit.  Notwithstanding the foregoing, if such Auto-Reinstatement Letter of Credit permits the L/C Issuer to decline to reinstate all or any portion of the stated amount thereof after a drawing thereunder by giving notice of such non-reinstatement within a specified number of days after such drawing (the “Non-Reinstatement Deadline”), the L/C Issuer shall not permit such reinstatement if it has received a notice (which may be by telephone or in writing) on or before the day that is seven (7) Business Days before the Non-Reinstatement Deadline (A) from the Administrative Agent that Revolving Lenders holding in excess of fifty percent (50%) of the Aggregate Commitments have elected not to permit such reinstatement or (B) from the Administrative Agent, any Revolving Lender or the Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied (treating such reinstatement as an L/C Credit Extension for purposes of this clause) and, in each case, directing the L/C Issuer not to permit such reinstatement.
(v)Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to 

the Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment.

(c)Drawings and Reimbursements; Funding of Participations.

(i)Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the L/C Issuer shall notify the Borrower and the Administrative Agent thereof.  Not later than 11:00 a.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an “Honor Date”), the Borrower shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing.  If the Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Revolving Lender of the Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Revolving Lender's Applicable Percentage thereof.  In such event, the Borrower shall be deemed to have requested a Committed Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02 (other than Section 4.02(b) and the delivery of a Committed Loan Notice).  Any notice given by the L/C Issuer or the Administrative Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

(ii)Each Revolving Lender shall upon any notice pursuant to Section 2.03(c)(i) make funds available (and the Administrative Agent may apply Cash Collateral provided for this purpose) for the account of the L/C Issuer at the Administrative Agent's Office in an amount equal to its Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Revolving Lender that so makes funds available shall be deemed to have made a Base Rate Committed Loan to the Borrower in such amount.  The Administrative Agent shall remit the funds so received to the L/C Issuer.

(iii)With respect to any Unreimbursed Amount that is not fully refinanced by a Committed Borrowing of Base Rate Loans because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason, the Borrower shall be deemed to have incurred from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate.  In such event, each Revolving Lender's payment to the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Revolving Lender in satisfaction of its participation obligation under this Section 2.03.

(iv)Until each Revolving Lender funds its Committed Loan or L/C Advance pursuant to this Section 2.03(c) to reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Revolving Lender's Applicable Percentage of such amount shall be solely for the account of the L/C Issuer.

(v)Each Revolving Lender's obligation to make Committed Loans or L/C Advances to reimburse the L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance, including 

(A) any setoff, counterclaim, recoupment, defense or other right which such Revolving Lender may have against the L/C Issuer, the Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Revolving Lender's obligation to make Committed Loans pursuant to this Section 2.03(c) is subject to the conditions set forth in Section 4.02 (other than delivery by the Borrower of a Committed Loan Notice).  No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any Letter of Credit, together with interest as provided herein.

(vi)If any Revolving Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any amount required to be paid by such Revolving Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii), then, without limiting the other provisions of this Agreement, the L/C Issuer shall be entitled to recover from such Revolving Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the L/C Issuer at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the L/C issuer in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the L/C Issuer in connection with the foregoing.  If such Revolving Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Revolving Lender's Committed Loan included in the relevant Committed Borrowing or L/C Advance in respect of the relevant Committed Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case may be.  A certificate of the L/C Issuer submitted to any Revolving Lender (through the Administrative Agent) with respect to any amounts owing under this clause (vi) shall be conclusive absent manifest error.

(d)Repayment of Participations.

(i)At any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any Revolving Lender such Revolving Lender's L/C Advance in respect of such payment in accordance with Section 2.03(c), if the Administrative Agent receives for the account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Revolving Lender its Applicable Percentage thereof (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Revolving Lender's L/C Advance was outstanding) in the same funds as those received by the Administrative Agent.

(ii)If any payment received by the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the L/C Issuer in its discretion), each Revolving Lender shall pay to the Administrative Agent for the account of the L/C Issuer its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Revolving Lender, at a rate per annum equal to the Federal Funds Rate from time to time in effect.  The obligations of the Revolving Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement.

(e)Obligations Absolute.  The obligation of the Borrower to reimburse the L/C Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:

(i)any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document;

(ii)the existence of any claim, counterclaim, setoff, defense or other right the Borrower may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 

(iii)any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of Credit;

(iv)waiver by the L/C Issuer of any requirement that exists for the L/C Issuer's protection and not the protection of the Borrower or any waiver by the L/C Issuer which does not in fact materially prejudice the Borrower;

(v)honor of a demand for payment presented electronically even if such Letter of Credit requires that demand be in the form of a draft;

(vi)any payment made by the L/C Issuer in respect of an otherwise complying item presented after the date specified as the expiration date of, or the date by which documents must be received under such Letter of Credit if presentation after such date is authorized by the UCC or the ISP, as applicable;

(vii)any payment by the L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; or

(viii)any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower.

The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the Borrower's instructions or other irregularity, the Borrower will immediately notify the L/C Issuer.  The Borrower shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such notice is given as aforesaid.
(f)Role of L/C Issuer.  Each Revolving Lender and the Borrower agree that, in paying any drawing under a Letter of Credit, the L/C Issuer shall not have any responsibility to obtain any document (other than 

any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document.  None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Revolving Lender for (i) any action taken or omitted in connection herewith at the request or with the approval of Revolving Lenders holding in excess of fifty percent (50%) of the Aggregate Commitments (or of the Total Revolving Outstandings if the Aggregate Commitments have been terminated); (ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Issuer Document.  The Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this assumption is not intended to, and shall not, preclude the Borrower's pursuing such rights and remedies as they may have against the beneficiary or transferee under any applicable Law or under any other agreement.  None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer, shall be liable or responsible for any of the matters described in clauses (i) through (v) of Section 2.03(e); provided, however, that anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against the L/C Issuer, and the L/C Issuer may be liable to the Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrower which the Borrower proves were caused by the L/C Issuer's willful misconduct or gross negligence or the L/C Issuer's willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit.  In furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason.  The L/C Issuer may send a Letter of Credit or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) message or overnight courier, or any other commercially reasonable means of communicating with a beneficiary.

(g)Applicability of ISP; Limitation of Liability.  Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit.  Notwithstanding the foregoing, the L/C Issuer shall not be responsible to the Borrower for, and the L/C Issuer's rights and remedies against the Borrower shall not be impaired by, any action or inaction of the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where the L/C Issuer or the beneficiary is located, the practice stated in the ISP or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

(h)L/C Fee.  The Borrower agrees to pay to the Administrative Agent for the account of each Lender in accordance, subject to Section 2.16, with its Applicable Percentage a fee for each Letter of Credit equal to the Applicable Rate times the daily amount available to be drawn under such Letter of Credit (the “L/C Fee”).  For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06.  The L/C Fee shall be (i) computed on a quarterly basis in arrears and (ii) due and payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the L/C Expiration Date and thereafter on demand.  If there is any change in the Applicable Rate 

during any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.  Notwithstanding anything to the contrary contained herein, upon the request of Revolving Lenders holding in excess of fifty percent (50%) of the Aggregate Commitments (or of the Total Revolving Outstandings if the Aggregate Commitments have been terminated), while any Event of Default exists, the L/C Fees shall accrue at the Default Rate.

(i)Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer.  The Borrower agrees to pay directly to the L/C Issuer for its own account a fronting fee with respect to each Letter of Credit equal to a rate of 0.125% per annum times the daily amount available to be drawn under such Letter of Credit (the “Fronting Fee”).  The Fronting Fee shall be (i) computed on a quarterly basis in arrears, and (ii) due and payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the L/C Expiration Date and thereafter on demand.  In addition, the Borrower shall pay directly to the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the L/C Issuer relating to letters of credit as from time to time in effect.  Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable. 

(j)Conflict with Issuer Documents.  In the event of any conflict between the terms hereof and the terms of any Issuer Documents, the terms hereof shall control.

(k)Action Taken by Revolving Lenders.  Notwithstanding anything to the contrary set forth in this Section 2.03, the Revolving Commitments of, or the portion of the Total Revolving Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of determining the percentage of Revolving Lenders taking or approving any action under this Section 2.03 and such matters shall be determined as though such Defaulting Lenders' Revolving Commitments and portion of the Total Revolving Outstandings held by such Defaulting Lenders did not exist.

2.04.     Swing Line Loans
 
(a)The Swing Line.  Subject to the terms and conditions set forth herein, the Swing Line Lender agrees, in reliance upon the agreements of the other Revolving Lenders set forth in this Section 2.04, to make loans (each such loan, a “Swing Line Loan”) to the Borrower from time to time on any Business Day during the Availability Period in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Committed Loans and L/C Obligations of the Revolving Lender acting as Swing Line Lender, may exceed the amount of such Revolving Lender's Revolving Commitment; provided, however, that (x) after giving effect to any Swing Line Loan, (i) the Total Revolving Outstandings shall not exceed the Aggregate Commitments, and (ii) the Revolving Credit Exposure of any Lender shall not exceed such Lender's Commitment, (y) the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan, and (z) the Swing Line Lender shall not be under any obligation to make any Swing Line Loan if it shall determine (which determination shall be conclusive and binding absent manifest error) that it has, or by such Credit Extension may have, Fronting Exposure.  Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this Section 2.04.  Each Swing Line Loan shall be a Base Rate Loan.  Immediately upon the making of a Swing Line Loan, each Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Lender's Applicable Percentage times the amount of such Swing Line Loan.  Notwithstanding anything to the contrary contained herein, a Swing 

Line Loan may not be converted to a LIBOR Rate Loan.  The Borrower promises to pay to the Swing Line Lender all amounts due under the Swing Line Loans on the Maturity Date or such earlier date as required hereunder.

(b)Borrowing Procedures.  

(i)Each Swing Line Borrowing shall be made upon the Borrower's irrevocable notice to the Swing Line Lender and the Administrative Agent, which may be given by telephone.  Each such notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the requested borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum of $100,000 and (ii) the requested borrowing date, which shall be a Business Day.  Each such telephonic notice must be confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a written Swing Line Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower.  Promptly after receipt by the Swing Line Lender of any telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the Administrative Agent (by telephone or in writing) of the contents thereof.  Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Revolving Lender) prior to 2:00 p.m. on the date of the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the proviso to the first sentence of Section 2.04(a), or (B) that one or more of the applicable conditions specified in Article IV is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will, not later than 3:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the Borrower at their office by crediting the account of the Borrower on the books of the Swing Line Lender in immediately available funds.

(ii)The Revolving Lenders agree that the Swing Line Lender may agree to modify the borrowing procedures used in connection with the Swing Line in its discretion and without affecting any of the obligations of the Revolving Lenders.

(c)Refinancing of Swing Line Loans.

(i)    The Swing Line Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorize the Swing Line Lender to so request on their behalf), that each Revolving Lender make a Base Rate Committed Loan in an amount equal to such Revolving Lender's Applicable Percentage of the amount of Swing Line Loans then outstanding.  Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate, but subject to the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02.  The Swing Line Lender shall furnish the Borrower with a copy of the applicable Committed Loan Notice promptly after delivering such notice to the Administrative Agent.  Each Revolving Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Committed Loan Notice available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swing Line Loan) for the account of the Swing Line Lender at the Administrative Agent's Office not later than 1:00 p.m. on the day specified in such Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Revolving Lender that so makes funds available shall be deemed to have made a Base Rate Committed Loan to 

the Borrower in such amount.  The Administrative Agent shall remit the funds so received to the Swing Line Lender.

(ii)    If for any reason any Swing Line Loan cannot be refinanced by such a Committed Borrowing in accordance with Section 2.04(c)(i), the request for Committed Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender that each of the Revolving Lenders fund its risk participation in the relevant Swing Line Loan and each Revolving Lender's payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.04(c)(i) shall be deemed payment in respect of such participation.

(iii)If any Revolving Lender fails to make available to the Administrative Agent for the account of the Swing Line Lender any amount required to be paid by such Revolving Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(i), the Swing Line Lender shall be entitled to recover from such Revolving Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the Swing Line Lender at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the Swing Line Lender in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Swing Line Lender in connection with the foregoing.  If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Revolving Lender's Committed Loan included in the relevant Committed Borrowing or funded participation in the relevant Swing Line Loan, as the case may be.  A certificate of the Swing Line Lender submitted to any Revolving Lender (through the Administrative Agent) with respect to any amounts owing under this clause (iii) shall be conclusive absent manifest error.

(iv)Each Revolving Lender's obligation to make Committed Loans or to purchase and fund risk participations in Swing Line Loans pursuant to this Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Revolving Lender may have against the Swing Line Lender, the Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Revolving Lender's obligation to make Committed Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in Section 4.02.  No such funding of risk participations shall relieve or otherwise impair the obligation of the Borrower to repay Swing Line Loans, together with interest as provided herein.

(d)Repayment of Participations.

(i)    At any time after any Revolving Lender has purchased and funded a risk participation in a Swing Line Loan, if the Swing Line Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Revolving Lender its Applicable Percentage of such payment (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Revolving Lender's risk participation was funded) in the same funds as those received by the Swing Line Lender.

(ii)If any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is required to be returned by the Swing Line Lender under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the Swing Line Lender in its discretion), each Revolving Lender shall pay to the Swing Line Lender its Applicable Percentage 

thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the Federal Funds Rate.  The Administrative Agent will make such demand upon the request of the Swing Line Lender.  The obligations of the Revolving Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement.

(e)Interest for Account of the Swing Line Lender.  The Swing Line Lender shall be responsible for invoicing the Borrower for interest on the Swing Line Loans.  Until each Revolving Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Revolving Lender's Applicable Percentage of any Swing Line Loan, interest in respect of its Applicable Percentage shall be solely for the account of the Swing Line Lender.

(f)Payments Directly to the Swing Line Lender.  The Borrower shall make all payments of principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender.

2.05.    Prepayments

(a)Voluntary.

(i)The Borrower may, upon notice to the Administrative Agent, at any time or from time to time, voluntarily prepay the Committed Loans or the Term A Loan in whole or in part without premium or penalty other than as provided in Section 3.05; provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of LIBOR Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any such prepayment of LIBOR Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof; and (C) any prepayment of Base Rate Loans shall be in a principal amount of $100,000 or a whole multiple of $50,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding.  Each such notice shall specify (w) the date and amount of such prepayment, (x) whether the Loan to be prepaid is a Committed Loan, a portion of the Term A Loan or other Borrowing, if applicable, (y) the Type(s) of Loans to be prepaid, and (z) if LIBOR Rate Loans are to be prepaid, the Interest Period(s) of such Loans.  The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender's ratable portion of such prepayment (based on such Lender's Applicable Percentage).  If such notice is given, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein.  Subject to Section 2.16, any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05.  All prepayments of the Term A Loan under this clause (i) shall be applied to the principal repayment installments thereof in inverse order of maturity.

(ii)The Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative Agent), at any time or from time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that (i) such notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the date of the prepayment, and (ii) any such prepayment shall be in a minimum principal amount of $10,000.  Each such notice shall specify the date and amount of such prepayment.  If such notice is given, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein.

(b)Mandatory.

(i)Within ten (10) Business Days after financial statements have been delivered pursuant to Section 6.01(a) and the related Compliance Certificate has been delivered pursuant to Section 6.02(a), the Borrower shall prepay an aggregate principal amount of Loans equal to the excess (if any) of (A) 35% of Excess Cash Flow for the fiscal year covered by such financial statements over (B) the aggregate principal amount of the Term A Loan or, to the extent accompanied by a permanent reduction in the Aggregate Commitments, the Committed Loans prepaid pursuant to Section 2.05(a)(i) during the fiscal year covered by such financial statements.  Each prepayment made pursuant to this clause (i) shall be applied first to the Term A Loan until the Term A Loan is paid and satisfied in full (with such prepayments to be applied to the principal repayment installments of the Term A Loan in inverse order of maturity) and second to the Total Revolving Outstandings without reduction of the Aggregate Commitments (with such prepayments to be applied first, ratably to the L/C Borrowings and the Swing Line Loans until the L/C Borrowings and the Swing Line Loans are reduced to zero and second, ratably to the Committed Loans until the Committed Loans are repaid in full).

(ii)If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Commitments then in effect, the Borrower shall immediately prepay Committed Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this clause (c) unless after the prepayment in full of the Loans, the Total Revolving Outstandings exceed the Aggregate Commitments then in effect.

2.06.    Termination or Reduction of the Aggregate Commitments .  The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently, and without penalty, reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five (5) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $1,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such Sublimit shall be automatically reduced by the amount of such excess.  The Administrative Agent will promptly notify the Revolving Lenders of any such notice of termination or reduction of the Aggregate Commitments.  Any reduction of the Aggregate Commitments shall be applied to the Revolving Commitment of each Revolving Lender according to its Applicable Percentage.  All fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

2.07.    Repayment of Loans

(a)Committed Loans.  The Borrower shall repay to the Revolving Lenders on the Maturity Date for the Committed Loans the aggregate principal amount of all Committed Loans outstanding on such date.

(b)Swing Line Loans.  The Borrower shall repay to the Swing Line Lender each Swing Line Loan upon the earlier of (x) the date that is ten (10) Business Days after such Swing Line Loan is made, and (y) the Maturity Date for the Committed Loans.

(c)Term A Loan.  The Borrower shall repay to the Term A Lenders the aggregate principal amount of the Term A Loan outstanding on the following dates in the respective amounts set forth opposite such dates:

	
		
	Date
	Amount of Reduction

	March 31, 2013
	$250,000

	June 30, 2013
	$250,000

	September 30, 2013
	$250,000

	December 31, 2013
	$250,000

	March 31, 2014
	$375,000

	June 30, 2014
	$375,000

	September 30, 2014
	$375,000

	December 31, 2014
	$375,000

	March 31, 2015
	$375,000

	June 30, 2015
	$375,000

	September 30, 2015
	$375,000

	December 31, 2015
	$375,000

	March 31, 2016
	$500,000

	June 30, 2016
	$500,000

	September 30, 2016
	$500,000

	December 31, 2016
	$500,000

	March 31, 2017
	$500,000

	June 30, 2017
	$500,000

	September 30, 2017
	$500,000

	Maturity Date for the Term A Loan
	Remaining outstanding principal amount of the Term A Loan

2.08.    Interest

(a)Subject to the provisions of subsection (b) below, (i) each LIBOR Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the LIBOR Rate for such Interest Period plus the Applicable Rate; (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate for Committed Loans bearing interest at the Base Rate.

(b)Upon the occurrence and during the continuance of an Event of Default under Section 8.01(a)(i) or 8.01(f) or, upon the request of the Required Lenders while any other Event of Default exists, the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.  Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.

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

2.09.    Fees  .  In addition to certain fees described in subsections (h) and (i) of Section 2.03:

(a)Commitment Fee.  The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender in accordance with its Applicable Percentage, a commitment fee (the “Commitment Fee”) equal to the Applicable Rate for the Commitment Fee times the actual daily amount by which the Aggregate 

Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.16.  For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Aggregate Commitments for purposes of determining the Commitment Fee.  The Commitment Fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date or any earlier date on which the Aggregate Commitments shall terminate.  The Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.  For purposes of computing the Commitment Fee, Swing Line Loans shall not be counted towards or considered usage of the Aggregate Commitments.
(b)Other Fees. The Borrower shall pay to the Arranger and the Administrative Agent for their own respective accounts fees in the amounts and at the times specified in the Fee Letter.  Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.
2.10.    Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate.
(a)All computations of interest for Base Rate Loans shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed.  All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year).  Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one day.  Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
(b)If, as a result of any restatement of or other adjustment to the financial statements of the Loan Parties or for any other reason, the Borrower or the Lenders determine that (i) the Leverage Ratio as calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Leverage Ratio would have resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to the Administrative Agent for the account of the applicable Lenders or the L/C Issuer, as the case may be, promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to any Loan Party under the Bankruptcy Code of the United States, automatically and without further action by the Administrative Agent, any Lender or the L/C Issuer), an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period.  This paragraph shall not limit the rights of the Administrative Agent, any Lender or the L/C Issuer, as the case may be, under Section 2.03(c)(iii), 2.03(i) or 2.08(b) or under Article VIII.  The Borrower's obligations under this paragraph shall survive the termination of the Aggregate Commitments and the repayment of all other Obligations hereunder.
2.11.    Evidence of Debt

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

of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error.  Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note, which shall evidence such Lender's Revolving Commitment, such Lender's portion of the Term A Loan or the portion of any other term loan advanced hereunder by such Lender, as applicable, in addition to such accounts or records.  Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.
(b)In addition to the accounts and records referred to in subsection (a), each Lender and the Administrative Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit and Swing Line Loans.  In the event of any conflict between the accounts and records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error.
2.12.    Payments Generally; the Administrative Agent's Clawback

(a)General.  All payments to be made by the Borrower shall be made free and clear of and without condition or deduction for any counterclaim, defense, recoupment or setoff.  Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative Agent's Office in Dollars and in immediately available funds not later than 12:00 noon on the date specified herein.  The Administrative Agent will promptly distribute to each Lender its Applicable Percentage (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender's Lending Office.  All payments received by the Administrative Agent after 12:00 noon shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue.  If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on, and the due date shall be extended to, the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be.
(b)

(i)Funding by the Lenders; Presumption by the Administrative Agent.  Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing of LIBOR Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior to 12:00 noon on the date of such 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 Section 2.02 or Section 2.14, as applicable (or, in the case of a Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance upon such assumption, make available to the 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 the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans.  If the Borrower and such 

Lender shall pay such interest as contemplated by this Section 2.12(b) to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period.  Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent.

(ii)Payments by the Borrower; Presumptions by the Administrative Agent.  Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the appropriate Lenders or the L/C Issuer, as the case may be, the amount due.  In such event, if the Borrower has not in fact made such payment, then each of the appropriate Lenders or the L/C Issuer, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or the L/C Issuer, in immediately available funds 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 Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.  A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.
(c)Failure to Satisfy Conditions Precedent.  If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest.
(d)Obligations of the Lenders Several.  The obligations of the Lenders hereunder to make the Committed Loans, the Term A Loan and any other Loan advanced hereunder from time to time, to fund participations in Letters of Credit and Swing Line Loans and to make payments under Section 11.04(c)  are several and not joint.  The failure of any Lender to make any Loan, to fund any such participation or to make any payment under Section 11.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan, as the case may be, purchase its participation or to make its payment under Section 11.04(c).
(e)Funding Source.  Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner, other than in a lawful manner, or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner.
(f)Insufficient Funds.  If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, L/C Borrowings, interest and fees then due hereunder, such funds shall be applied (i) first, toward 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, toward payment of principal and L/C Borrowings then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and L/C Borrowings then due to such parties.
2.13.    Sharing of Payments

(a)If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the Loans made by it, or the participations in L/C Obligations or in Swing Line Loans held by it resulting in such Lender's receiving payment of a proportion of the aggregate amount of such Loans or participations and accrued interest thereon greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the Loans and subparticipations in L/C Obligations and Swing Line Loans of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them, provided that:
(i)if any such participations or subparticipations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and
(ii)the provisions of this Section shall not be construed to apply to (A) any payment made by or on behalf of the Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), (B) the application of Cash Collateral provided for in Section 2.15, (C) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Committed Loans or subparticipations in L/C Obligations or Swing Line Loans to any assignee or participant, other than an assignment to the Borrower or any Affiliate thereof (as to which the provisions of this Section shall apply), or (D) any payment of consideration for executing any amendment, waiver or consent in connection with this Agreement so long as such consideration has been offered to all consenting Lenders.
Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against such Loan Party rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Loan Party in the amount of such participation.
2.14.     Accordion Advances.

(a)Request for Increase in or Replacement of the Aggregate Commitments; Increase of Term A Loan; Additional Term Loans.  Provided there exists no Default or Event of Default, upon notice to the Administrative Agent (who shall thereafter promptly notify the Lenders), and subject to the terms of this Section 2.14, the Borrower may from time to time, without obtaining further consent from the Lenders, request (i) an increase in or, with the approval of the Administrative Agent, replacement of the Aggregate Commitments (which increase in or replacement of the Aggregate Commitments and the proceeds of any Committed Loans to be advanced thereunder may be used, in whole or in part, to prepay (or Cash Collateralize, as applicable) any Loan or other Obligation then Outstanding in accordance with the terms hereof), (ii) one or more increases in the Term A Loan, and (iii) with the approval of the Administrative Agent, one or more new or replacement term loans the proceeds of which may, at the election of the Borrower, be used to prepay any Loan or other Obligation then outstanding in accordance with the terms hereof (any such Loan, commitment or replacement, an “Accordion Advance”); provided that the aggregate amounts so requested under clauses (i) and (ii) above after the date hereof (after giving effect to any prepayments or replacements contemplated thereby) shall not exceed $60,000,000; and provided, further, that, after giving effect to any such Accordion Advance, the sum of the Total Facility Amount shall not at any time exceed $100,000,000 (minus any and all previously effected permanent reductions of the Aggregate Commitments or prepayments of the Term A Loan or any other term loan advanced hereunder from time to time and then Outstanding (other than in connection with a replacement 

term loan or a replacement revolving credit facility under this Section 2.14)).  In no event shall any existing Lender be required to increase its Commitment or fund any portion of any Accordion Advance.
Any Accordion Advance will be subject to pricing and fees based on the then-current market for borrowers with similar credit profiles and ratings as mutually agreed to by the Borrower, the Administrative Agent and the Lenders providing commitments for such Accordion Advance, as set forth in any applicable Conforming Amendment (defined below).
(b)Loan Terms and Conditions.  To the extent that an Accordion Advance is requested pursuant to the terms of this Agreement, such Accordion Advance shall, in addition to compliance with the other applicable terms of this Section 2.14, be subject to additional customary terms and conditions as are agreed among the Borrower, the Administrative Agent and the Lenders participating in such Accordion Advance, in any event including the following:
(i)Evidence of Indebtedness; Loan Accounts.  Each Lender participating in such Accordion Advance shall maintain, in accordance with its usual practice, an account or accounts evidencing indebtedness of the Borrower to such Lender resulting from such Lender's pro rata share of such Accordion Advance from time to time, including the amounts of principal, interest or fees payable and paid to such Lender from time to time under this Agreement.  The Administrative Agent shall maintain accounts (including the Register) in which it shall record (i) the amount of such Accordion Advance, the amount of any Loans advanced thereunder and each Interest Period applicable thereto, (ii) the amount of any principal, interest or fees due and payable or to become due and payable from the Borrower to each Lender participating in such Accordion Advance, and (iii) both the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender's share thereof (if any).  The entries made in the accounts maintained by each Lender participating in such Accordion Advance pursuant to this Section 2.14 shall be conclusive absent manifest error; provided, however, that the failure of any Lender or the Administrative Agent to maintain any such accounts or note record, or any error therein, shall not in any manner affect the obligation of the Borrower to repay (with applicable interest) any Loans advanced under such or the applicable Accordion Advance made in accordance with the terms of this Agreement.  If requested by any Lender participating in such Accordion Advance, the Borrower shall execute a promissory note with respect to such Lender's portion of such Accordion Advance.
(ii)Interest on any Accordion Advance.  After such Accordion Advance has been created, (x) the provisions of Section 2.02 hereof shall apply mutatis mutandis with respect to all or any portion of any Loans advanced under such Accordion Advance so that, to the extent applicable, the Borrower may have the same interest rate options with respect to all or any portion of the Loans advanced under such Accordion Advance as they would be entitled to with respect to the Loans then Outstanding, and (y) the provisions of Article III shall also apply to Loans advanced under such Accordion Advance.
(iii)Pari Passu Treatment of any Accordion Advance.  Any Accordion Advance (A) shall rank pari passu in right of payment and of security with all other Loans, (B) shall have, except as expressly provided in the governing documentation for such Accordion Advance (but subject, in all cases, to the terms of this Agreement), the same terms as the original Loans and Revolving Commitments hereunder and shall be governed by and subject to all of the provisions, terms and conditions set forth in this Agreement and the other Loan Documents in every respect as though such Loan was an original “Loan” (and in the case of an increase in or replacement of the Aggregate Commitments, an original “Committed Loan”) referred to herein and will constitute an Obligation of the Borrower hereunder, (C) the weighted average life for any Accordion Advance constituting a new term loan (any such Accordion Advance, an “Accordion Term Loan”) shall not be less than the weighted average life for 

the Term A Loan, and (D) the maturity date of any Accordion Term Loan shall not be earlier than the Maturity Date of the Term A Loan.
(c)Notification by Administrative Agent; Acceding Lenders.  Subject to the approval of the Administrative Agent (and the L/C Issuer and the Swing Line Lender only with respect to an increase in the Aggregate Commitments), which approvals shall not be unreasonably withheld, the Borrower may invite any Lender and/or one or more additional commercial banks, other financial institutions or other Persons (in each case, an “Acceding Lender”) to become party to this Agreement as a Lender.  Such Acceding Lender shall become a Lender hereunder by entering into an instrument of accession in substantially the form of Exhibit E hereto (an “Instrument of Accession”) with the Borrower and the Administrative Agent and assuming thereunder the rights and obligations (as the case may be) of a Revolving Lender hereunder including, without limitation, commitments to make Committed Loans and participate in the risk relating to Letters of Credit and Swing Line Loans and/or of a Term A Lender or other term lender, as applicable, with respect to the obligation to fund a portion of a new or replacement term loan subject to the terms of this Section, and the Aggregate Commitments and/or the new or replacement term loan (as the case may be) shall be funded by the amount of such Acceding Lender's interest all in accordance with the provisions of this Section.
(d)Reallocation.  The Borrower shall indemnify the Lenders and the Administrative Agent for any cost or expense incurred as a consequence of the reallocation of any LIBOR Rate Loans to an Acceding Lender pursuant to the provisions of Section 3.05 hereof.
(e)Effective Date and Allocations.  Upon a request by the Borrower for an Accordion Advance in accordance with this Section, the Administrative Agent and the Borrower shall determine, as applicable, the effective date of any such Accordion Advance (any such date, the “Accordion Funding Date”) and the final allocation of any such Accordion Advance.  The Administrative Agent shall promptly notify the Borrower and the Lenders and Acceding Lenders, if any, of the final allocation of such Accordion Advance.  On any Accordion Funding Date, Schedule 2.01 hereto shall be amended to reflect, as the case may be, (x) the name, address, and, as the case may be, the Revolving Commitment of the Lenders and/or the amount of the portion of the new or replacement term loan advanced or to be advanced by each term Lender (and, if applicable, any Acceding Lender), (y) the amount of the Aggregate Commitments and/or any new or replacement term loan (after giving effect to any Accordion Advance), and (z) the changes to the respective Applicable Percentages of the Lenders (after giving effect to any Accordion Advance).
(f)Conforming Amendment.  To the extent that conforming changes (including incorporating the Accordion Advances and pricing applicable thereto) to this Agreement must be made to effect an Accordion Advance in accordance with this Section, the Administrative Agent and the Borrower may enter into an amendment (a “Conforming Amendment”) effecting such changes.  Any such Conforming Amendment shall not require the consent of any Person other than the Lenders participating in the applicable Accordion Advance, the Borrower and the Administrative Agent so long as such Conforming Amendment does not provide for new or amended covenants or events of default applicable to any Accordion Advance; provided, that upon the execution of any Conforming Amendment, the Administrative Agent shall distribute a copy thereof to all of the Lenders.  If such Conforming Amendment provides for new or amended covenants or events of default applicable to any Accordion Advance, such Conforming Amendment shall be subject to the consent of the Required Lenders calculated prior to giving effect to the applicable Accordion Advance.
(g)Conditions to Effectiveness of any Accordion Advance.  As a condition precedent to any such Accordion Advance under this Section 2.14, the Borrower shall deliver to the Administrative Agent (i) upon the request of any Lender, a Note (or an allonge to such Lender's existing Note) evidencing such Lender's portion of any Accordion Advance, (ii) evidence of applicable corporate authorization and other corporate documentation from the Borrower and the legal opinion of counsel to the Borrower, each in form and substance 

reasonably satisfactory to the Administrative Agent and such Lenders as are participating in such Accordion Advance, (iii) a certificate, dated as of any Accordion Funding Date, signed by a Responsible Officer of the Borrower certifying that, before and after giving effect to such Accordion Advance, the applicable conditions set forth in Section 4.02 will be satisfied, (iv) a pro-forma Compliance Certificate reflecting compliance with Section 7.11 after giving effect to such increase or replacement, (v) to the extent applicable, executed counterparts to a Conforming Amendment, (vi) payment of (A) all of the Administrative Agent's reasonable legal fees and expenses incurred in connection with such Accordion Advance and (B) the fees set forth in any applicable fee letter, (vii) a certificate, dated as of any Accordion Funding Date, signed by a Responsible Officer of the Borrower certifying that such Accordion Advance will be “senior debt” (or any similar term) permitted under the Subordination Provisions of any Subordinated Debt outstanding on the date of the applicable Accordion Funding Date, and (viii) written consent from the holder of any Subordinated Debt to the extent written consent is required under the documentation governing such Subordinated Debt including, without limitation, those consents described on Schedule 2.14.  In addition, the Borrower shall, after taking into account the application of any Accordion Advance, if applicable, prepay any Committed Loans outstanding on any Accordion Funding Date (and pay any additional amounts required under Article III) to the extent necessary to keep the outstanding Committed Loans ratable with any revised Applicable Percentages in respect of Committed Loans arising from any nonratable increase in the Aggregate Commitments.
(h)Conflicting Provisions.  This Section shall supersede any provisions in Section 2.13 or 11.01 to the contrary.
2.15.    Cash Collateral.
(a)Certain Credit Support Events.  If (i) the L/C Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, (ii) as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, (iii) the Borrower shall be required to provide Cash Collateral pursuant to Section 8.02(c), or (iv) there shall exist a Defaulting Lender, the Borrower shall immediately (in the case of clause (iii) above) or within one Business Day (in all other cases) following any request by the Administrative Agent or the L/C Issuer, provide Cash Collateral in an amount not less than the applicable Minimum Collateral Amount (determined in the case of Cash Collateral provided pursuant to clause (iv) above, after giving effect to Section 2.15(a)(iv) and any Cash Collateral provided by the Defaulting Lender).
(b)Grant of Security Interest.  The Borrower, and to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuer and the Lenders, and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be applied pursuant to Section 2.15(c).  If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent or the L/C Issuer as herein provided or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, the Borrower will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency. All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing deposit accounts at Bank of America. The Borrower shall pay on demand therefor from time to time all customary account opening, activity and other administrative fees and charges in connection with the maintenance and disbursement of Cash Collateral.
(c)Application.  Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any of this Section 2.15 or Sections 2.03, 2.05, 2.16 or 8.02 in respect of Letters of 

Credit shall be held and applied to the satisfaction of the specific L/C Obligations, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other application of such property as may otherwise be provided for herein.
(d)Release.  Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or to secure other obligations shall be released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee following compliance with Section 11.06(b)(vi))) or (ii) the determination by the Administrative Agent and the L/C Issuer that there exists excess Cash Collateral; provided, however, the Person providing Cash Collateral and the L/C Issuer may agree that Cash Collateral shall not be released but instead held to support future anticipated Fronting Exposure or other obligations.
2.16.    Defaulting Lenders.
(a)Adjustments.  Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable Law:
(i)Waivers and Amendments.  Such Defaulting Lender's right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definition of “Required Lenders” and Section 11.01.
(ii)Defaulting Lender Waterfall.  Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 11.08 shall be applied at such time or times as may be determined by the Administrative Agent as follows:  first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the L/C Issuer or Swing Line Lender hereunder; third, to Cash Collateralize the L/C Issuer's Fronting Exposure with respect to such Defaulting Lender in accordance with Section 2.15; fourth, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order to (x) satisfy such Defaulting Lender's potential future funding obligations with respect to Loans under this Agreement and (y) Cash Collateralize the L/C Issuer's future Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in accordance with Section 2.15; sixth, to the payment of any amounts owing to the Lenders, the L/C Issuer or Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or the Swing Line Lender against such Defaulting Lender as a result of such Defaulting Lender's breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender's breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which such Defaulting Lender has not fully funded its appropriate share, and (y) such Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in Section 

4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Obligations owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Obligations owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C Obligations and Swing Line Loans are held by the Lenders pro rata in accordance with the Commitments hereunder without giving effect to Section 2.16(a)(iv).  Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.16(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 
(iii)(A)    Certain Fees.  No Defaulting Lender shall be entitled to receive any fee payable under Section 2.09(a) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender).
(B)    Each Defaulting Lender shall be entitled to receive L/C Fees for any period during which that Lender is a Defaulting Lender only to the extent allocable to its Applicable Percentage of the stated amount of Letters of Credit for which such Defaulting Lender has provided Cash Collateral pursuant to Section 2.15.
(C)    With respect to any fee payable under Section 2.09(a) or any L/C Fee not required to be paid to any Defaulting Lender pursuant to clause (A) or (B) above, the Borrower shall (x) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender's participation in L/C Obligations or Swing Line Loans that has been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to the L/C Issuer and Swing Line Lender, as applicable, the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to such L/C Issuer's or Swing Line Lender's Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee.
(iv)Reallocation of Applicable Percentages to Reduce Fronting Exposure.  All or any part of such Defaulting Lender's participation in L/C Obligations and Swing Line Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Percentages (calculated without regard to such Defaulting Lender's Commitment) but only to the extent that (x) the conditions set forth in Section 4.02 are satisfied at the time of such reallocation (and, unless the Borrower shall have otherwise notified the Administrative Agent at such time, the Borrower shall be deemed to have represented and warranted that such conditions are satisfied at such time), and (y) such reallocation does not cause the aggregate Revolving Credit Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender's Commitment.  No reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender's increased exposure following such reallocation.
(v)Cash Collateral, Repayment of Swing Line Loans.  If the reallocation described in clause (a)(iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, (x) first, prepay Swing Line Loans in an amount equal to the Swing Line Lenders' Fronting Exposure and (y) second, Cash Collateralize the L/C Issuers' Fronting Exposure in accordance with the procedures set forth in Section 2.15.

(b)Defaulting Lender Cure.  If the Borrower, the Administrative Agent, Swing Line Lender and the L/C Issuer agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Committed Loans of the other Revolving Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Committed Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to be held on a pro rata basis by the Revolving Lenders in accordance with their Applicable Percentages (without giving effect to Section 2.16(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Revolving Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Revolving Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender's having been a Defaulting Lender.
ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY
3.01.    Taxes
(a)Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes.  (i) Any and all payments by or on account of any obligation of the Borrower hereunder or under any other Loan Document shall to the extent permitted by applicable Laws be made free and clear of and without reduction or withholding for any Taxes.  If, however, applicable Laws require the Borrower or the Administrative Agent to withhold or deduct any Tax, such Tax shall be withheld or deducted in accordance with such Laws as determined by the Borrower or the Administrative Agent, as the case may be, upon the basis of the information and documentation to be delivered pursuant to clause (e) below.
(i)Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable Laws.  If any applicable Laws (as determined in the good faith discretion of the Administrative Agent) require the deduction or withholding of any Tax from any such payment by the Administrative Agent or a Loan Party, then the Administrative Agent or such Loan Party shall be entitled to make such deduction or withholding, upon the basis of the information and documentation to be delivered pursuant to subsection (e) below.
(ii)If any Loan Party or the Administrative Agent shall be required by the Code to withhold or deduct any Taxes, including both United States Federal backup withholding and withholding taxes, from any payment, then (A) the Administrative Agent shall withhold or make such deductions as are determined by the Administrative Agent to be required based upon the information and documentation it has received pursuant to subsection (e) below, (B) the Administrative Agent shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with the Code, and (C) to the extent that the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Loan Party shall be increased as necessary so that after any required withholding or the making of all required deductions (including deductions applicable to additional sums payable under this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made.
(iii)If any Loan Party or the Administrative Agent shall be required by any applicable Laws other than the Code to withhold or deduct any Taxes from any payment, then (A) such Loan Party or the Administrative Agent, as required by such Laws, shall withhold or make such deductions as are 

determined by it to be required based upon the information and documentation it has received pursuant to subsection (e) below, (B) such Loan Party or the Administrative Agent, to the extent required by such Laws, shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with such Laws, and (C) to the extent that the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Loan Party shall be increased as necessary so that after any required withholding or the making of all required deductions (including deductions applicable to additional sums payable under this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made.
(b)Payment of Other Taxes by the Borrower.  Without limiting the provisions of subsection (a) above, the Loan Parties shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.
(c)Tax Indemnifications.
(i)Each of the Loan Parties shall, and does hereby, jointly and severally indemnify each Recipient, and shall make payment in respect thereof within 10 days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 3.01) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified 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 Borrower by a Lender or the L/C Issuer (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall be conclusive absent manifest error.  Each of the Loan Parties shall, and does hereby, jointly and severally indemnify the Administrative Agent, and shall make payment in respect thereof within ten (10) days after demand therefor, for any amount which a Lender or the L/C Issuer for any reason fails to pay indefeasibly to the Administrative Agent as required pursuant to Section 3.01(c)(ii) below.
(ii)Each Lender and the L/C Issuer shall, and does hereby, severally indemnify, and shall make payment in respect thereof within ten (10) days after demand therefor, (x) the Administrative Agent against any Indemnified Taxes attributable to such Lender or the L/C Issuer (but only to the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to do so), (y) the Administrative Agent and the Loan Parties, as applicable, against any Taxes attributable to such Lender's failure to comply with the provisions of Section 11.06(d) relating to the maintenance of a Participant Register and (z) the Administrative Agent and the Loan Parties, as applicable, against any Excluded Taxes attributable to such Lender or the L/C Issuer, in each case, that are payable or paid by the Administrative Agent or a Loan Party in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error.  Each Lender and the L/C Issuer hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender or the L/C Issuer, as the case may be, under this Agreement or any other Loan Document against any amount due to the Administrative Agent under this clause (ii).
(d)Evidence of Payments.  Upon request by the Borrower or the Administrative Agent, as the case may be, after any payment of Taxes by the Borrower or the Administrative Agent to a Governmental Authority as provided in this Section 3.01, the Borrower shall deliver to the Administrative Agent or the Administrative 

Agent shall deliver to the Borrower, as the case may be, the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any return required by Laws to report such payment or other evidence of such payment reasonably satisfactory to the Borrower or the Administrative Agent, as the case may be.
(e)Status of Lenders; Tax Documentation.
(i)Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding.  In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements.  Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Sections 3.01(e)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender's reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender.
(ii)Without limiting the generality of the foregoing, in the event that the Borrower is a U.S. Person,
(A)any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax;
(B)any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable:
(I)in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty;
(II)executed originals of IRS Form W-8ECI;
(III)in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in 

the form of Exhibit F-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN; or
(IV)to the extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the form of Exhibit F-2 or Exhibit F-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit F-4 on behalf of each such direct and indirect partner;
(C)any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and
(D)if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender's obligations under FATCA or to determine the amount to deduct and withhold from such payment.  Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date of this Agreement.
(iii)Each Lender agrees that if any form or certification it previously delivered pursuant to this Section 3.01 expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so.
(f)Treatment of Certain Refunds.  Unless required by applicable Laws, at no time shall the Administrative Agent have any obligation to file for or otherwise pursue on behalf of a Lender or the L/C Issuer, or have any obligation to pay to any Lender or the L/C Issuer, any refund of Taxes withheld or deducted from funds paid for the account of such Lender or the L/C Issuer, as the case may be.  If any Recipient determines that it has received a refund of any Taxes as to which it has been indemnified by any Loan Party or with respect to which any Loan Party has paid additional amounts pursuant to this Section 3.01, it shall pay to the Loan Party an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by a Loan Party under this Section 3.01 with respect to the Taxes giving rise to such refund), net of all 

out-of-pocket expenses (including Taxes) incurred by such Recipient, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that the Loan Party, upon the request of the Recipient, agrees to repay the amount paid over to the Loan Party (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Recipient in the event the Recipient is required to repay such refund to such Governmental Authority.  Notwithstanding anything to the contrary in this subsection, in no event will the applicable Recipient be required to pay any amount to the Loan Party pursuant to this subsection the payment of which would place the Recipient in a less favorable net after-Tax position than such Recipient would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid.  This subsection shall not be construed to require any Recipient to make available its tax returns (or any other information relating to its taxes that it deems confidential) to any Loan Party or any other Person.
(g)Survival.  Each party's obligations under this Section 3.01 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender or the L/C Issuer, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations.
3.02.    Illegality .  If any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its Lending Office to make, maintain or fund Loans whose interest is determined by reference to the LIBOR Rate, or to determine or charge interest rates based upon the LIBOR Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, (i) any obligation of such Lender to make or continue LIBOR Rate Loans or to convert Base Rate Loans to LIBOR Rate Loans shall be suspended, and (ii) if such notice asserts the illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is determined by reference to the LIBOR Rate component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the LIBOR Rate component of the Base Rate, in each case until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist.  Upon receipt of such notice, (x) the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all LIBOR Rate Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the LIBOR Rate component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such LIBOR Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such LIBOR Rate Loans and (y) if such notice asserts the illegality of such Lender determining or charging interest rates based upon the LIBOR Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without reference to the LIBOR Rate component thereof until the Administrative Agent is advised in writing by such Lender that it is no longer illegal  for such Lender to determine or charge interest rates based upon the LIBOR Rate.  Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.
3.03.    Inability to Determine Rates .  If the Administrative Agent determines in connection with any request for a LIBOR Rate Loan or a conversion to or continuation thereof that (a) Dollar deposits are not being offered to banks in the London interbank LIBOR market for the applicable amount and Interest Period of such LIBOR Rate Loan, (b) adequate and reasonable means do not exist for determining the LIBOR Rate for any requested Interest Period with respect to a proposed LIBOR Rate Loan or in connection with an 

existing or proposed Base Rate Loan, or (c) the LIBOR Rate for any requested Interest Period with respect to a proposed LIBOR Rate Loan does not adequately and fairly reflect the cost to the Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender.  Thereafter, (x) the obligation of the Lenders to make or maintain LIBOR Rate Loans shall be suspended, and (y) in the event of a determination described in the preceding sentence with respect to the LIBOR Rate component of the Base Rate, the utilization of the LIBOR Rate component in determining the Base Rate shall be suspended, in each case until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice.  Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of LIBOR Rate Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein.
3.04.    Increased Costs; Reserves on LIBOR Rate Loans
(a)Increased Costs Generally.  If any Change in Law shall:
(i)impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement contemplated by Section 3.04(e)) or the L/C Issuer;
(ii)subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or
(iii)impose on any Lender or the L/C Issuer or the London interbank market any other condition, cost or expense affecting this Agreement or LIBOR Rate 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, converting to, continuing or maintaining any LIBOR Rate Loan (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender or the L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or the L/C Issuer hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or the L/C Issuer, the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer, as the case may be, for such additional costs incurred or reduction suffered.  Subject to clause (d) below, each of the Lenders shall endeavor to notify the Borrower of any such Change in Law resulting in increased costs for such Lender under this Section 3.04(a) promptly after becoming aware thereof.
(b)Capital Requirements.  If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such Lender's or the L/C Issuer's holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender's or the L/C Issuer's capital or on the capital of such Lender's or the L/C Issuer's holding company, if any, as a consequence of this Agreement, the Revolving Commitment of such Lender or the Committed Loans made by, or participations in Letters of Credit or Swing Line Loans held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender's or the L/C Issuer's holding company could have achieved but for such Change in Law (taking into consideration such Lender's or the L/C Issuer's policies and the policies of such Lender's or the L/C Issuer's holding company with respect to capital adequacy), then from time to time the Borrower will 

pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender's or the L/C Issuer's holding company for any such reduction suffered.  Subject to clause (d) below, each of the Lenders shall endeavor to notify the Borrower of any such Change in Law resulting in increased costs for such Lender under this Section 3.04(b) promptly after becoming aware thereof.
(c)Certificates for Reimbursement.  A certificate of a Lender or the L/C Issuer setting forth the amount or amounts necessary to compensate such Lender or the L/C Issuer or its holding company, as the case may be, as specified in subsection (a) or (b) of this Section and delivered to the Borrower shall be conclusive absent manifest error.  The Borrower shall pay such Lender or the L/C Issuer, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof.
(d)Delay in Requests.  Failure or delay on the part of any Lender or the L/C Issuer to demand compensation pursuant to the foregoing provisions of this Section 3.04 shall not constitute a waiver of such Lender's or the L/C Issuer's right to demand such compensation, provided that the Borrower shall not be required to compensate a Lender or the L/C Issuer pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than ninety (90) days prior to the date that such Lender or the L/C Issuer, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender's or the L/C Issuer's intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the ninety (90) day period referred to above shall be extended to include the period of retroactive effect thereof).
(e)Reserves on LIBOR Rate Loans.  The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each LIBOR Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least ten (10) days' prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender.  If a Lender fails to give notice ten (10) days prior to the relevant Interest Payment Date, such additional interest shall be due and payable ten (10) days from receipt of such notice.
3.05.    Compensation for Losses .  Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of:
(a)any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); or
(b)any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower;
including any cost or expense arising from the liquidation, or redeployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained.  The Borrower shall also pay any customary administrative fees charged by such Lender in connection with the foregoing.  For purposes of calculating amounts payable by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each LIBOR Rate Loan made by it at the LIBOR Rate used in determining the LIBOR Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market 

for a comparable amount and for a comparable period, whether or not such LIBOR Rate Loan was in fact so funded.  
3.06.    Mitigation Obligations; Replacement of Lenders.
(a)Designation of a Different Lending Office.  If any Lender requests compensation under Section 3.04, or requires the Borrower to pay any Indemnified Taxes or additional amounts to any Lender, the L/C Issuer, or any Governmental Authority for the account of any Lender or the L/C Issuer pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then at the request of the Borrower such Lender or the L/C Issuer shall, as applicable, 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 or the L/C Issuer, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender or the L/C Issuer, as the case may be, to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender or the L/C Issuer, as the case may be.  The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or the L/C Issuer in connection with any such designation or assignment.
(b)Replacement of Lenders.  If any Lender requests compensation under Section 3.04, or if the Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01 and, in each case, such Lender has declined or is unable to designate a different lending office in accordance with Section 3.06(a), the Borrower may replace such Lender in accordance with Section 11.13.
3.07.    Survival .  All of the Borrower's obligations under this Article III shall survive termination of the Aggregate Commitments and other Loans advanced hereunder from time to time and the repayment of all other Obligations hereunder, only if such Obligations accrue prior to the termination of this Agreement and the repayment in full in cash of all Obligations outstanding hereunder and the resignation of the Administrative Agent.

ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
4.01.    Conditions of Initial Credit Extension .  The obligation of the L/C Issuer and each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent:
(a)the Administrative Agent's receipt of the following, each of which shall be originals or telecopies (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the Loan Parties, each dated the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date) and each in form and substance satisfactory to the Administrative Agent and each of the Lenders:
(i)executed counterparts of this Agreement and all Collateral Documents;
(ii)a Note executed by the Borrower in favor of each Lender requesting a Note;
(iii)such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each Loan Party as the Administrative Agent may reasonably 

require authorizing such Loan Party to enter into the transactions contemplated by this Agreement and evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan Documents to which such Loan Party is a party; 
(iv)such documents and certifications as the Administrative Agent may reasonably require to evidence that each Loan Party is duly organized or formed, and that each Loan Party is validly existing, in good standing and qualified to engage in business in each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification;
(v)a favorable opinion of counsel to the Loan Parties acceptable to the Administrative Agent (including local counsel opinions as requested by the Administrative Agent) addressed to the Administrative Agent and each Lender, as to the matters set forth concerning the Loan Parties and the Loan Documents in form and substance satisfactory to the Administrative Agent;
(vi)a certificate of a Responsible Officer of the Borrower certifying: (A) either (x) attaching copies of all material consents, licenses and approvals required in connection with the execution, delivery and performance by the Loan Parties and the validity against the Loan Parties of the Loan Documents to which it is a party, and such consents, licenses and approvals shall be in full force and effect, or (y) stating that no such consents, licenses or approvals are so required, (B) that the conditions specified in Sections 4.02(a) and (b) have been satisfied, and (C) that there has been no event or circumstance since the date of the Audited Financial Statements that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect;
(vii)(A) the Audited Financial Statements, (B) audited financial statements of Holdings and its Subsidiaries for the 2009 and 2010 fiscal years, (C) unaudited financial statements of Holdings and its Subsidiaries for the Reference Period ended September 8, 2012, and (D) financial projections and business assumptions including forecasts prepared by management of the Borrower of balance sheets, income statements and cash flow statements on a quarterly basis for the 2013 fiscal year and on an annual basis for each year thereafter through the Maturity Date, each in form satisfactory to the Administrative Agent and the Lenders;
(viii)evidence that all insurance required to be maintained pursuant to the Loan Documents has been obtained and is in effect (which insurance shall be acceptable to the Administrative Agent and the Lenders), together with insurance binders or other satisfactory certificates of insurance and endorsements naming the Administrative Agent, on behalf of the Lenders, as an additional insured or loss payee, as the case may be, under all insurance policies maintained with respect to the liabilities, assets and properties of the Loan Parties;
(ix)evidence in form and substance reasonably satisfactory to the Administrative Agent that the Collateral Documents shall be effective to create in favor of the Administrative Agent, on behalf of the Secured Parties, a legal, valid and enforceable first priority security interest in and Lien upon the Collateral.  All filings, recordings, deliveries of instruments and other reasonable actions necessary or desirable in the opinion of the Administrative Agent to perfect, protect and preserve such security interests shall have been duly effected;
(x)a completed and fully-executed Perfection Certificate for each of the Loan Parties, the results of UCC, tax lien, bankruptcy and litigation searches (and the equivalent thereof in all applicable foreign jurisdictions) with respect to the Loan Parties and the Collateral indicating no Liens other than Permitted Liens and otherwise in form and substance satisfactory to the 

Administrative Agent; and copies of duly filed UCC-1 forms for each of the Loan Parties in each appropriate jurisdiction and office under the UCC;
(xi)a duly completed Compliance Certificate in form and detail satisfactory to the Administrative Agent and the Lenders, signed by a Responsible Officer of the Borrower, as of September 8, 2012 (based upon the unaudited financial statements of Holdings and its Subsidiaries for the Reference Period ending September 8, 2012), after giving effect to the Loans made hereunder on the Closing Date, evidencing pro forma compliance with each of the financial covenants set forth in Section 7.11 hereof (assuming such financial covenants were in effect as of September 8, 2012);
(xii)satisfactory evidence that, simultaneously with and upon the application of the proceeds of the Loans to be advanced hereunder on the Closing Date, all indebtedness and other obligations outstanding under the Existing Credit Agreement (and all Liens related thereto) will have been paid and satisfied in full and terminated in accordance with the terms thereof or otherwise rolled into the Obligations under this Agreement; 
(xiii)certified copies of those documents executed in connection with all Subordinated Debt outstanding on the Closing Date and identified on Schedule 4.01(a)(xiii); and
(xiv)such other assurances, environmental reports, other reports, field audits, audits, certificates, documents, consents or opinions as the Administrative Agent or the Required Lenders reasonably may require.
(b)The absence of any event or condition since the date of the Audited Financial Statements that has had or could be reasonably expected, either individually or in the aggregate, to have a Material Adverse Effect.
(c)The absence of any action, suit, investigation or proceeding pending or, to the knowledge of the Loan Parties, threatened in any court or before any arbitrator or governmental authority that would reasonably be expected to have a Material Adverse Effect.
(d)The Lenders shall have completed a due diligence investigation of the Borrower and the Guarantors in scope, and with results, satisfactory to the Lenders.
(e)Arrangements completely satisfactory to the Administrative Agent have been made for the payment at closing of all accrued fees and expenses of the Administrative Agent required to be paid on or prior to the Closing Date shall have been made (including the reasonable fees and expenses of counsel for the Administrative Agent to the extent invoiced prior to the Closing Date) and arrangements completely satisfactory to the Arranger for the payment of the fees to be paid on or prior to the Closing Date to the Arranger pursuant to the Fee Letter.
Without limiting the generality of the provisions of Section 9.04, for purposes of determining compliance with the conditions specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto.
4.02.    Conditions to all Credit Extensions .  The obligation of each Lender to honor any Request for Credit Extension is subject to the following conditions precedent:

(a)(i) With respect to the Credit Extensions advanced on the Closing Date, the representations and warranties of the Loan Parties contained in Article V or any other Loan Document delivered on or before the Closing Date shall be true and correct in all respects on and as of the Closing Date; and (ii) with respect to any Credit Extension advanced after the Closing Date, the representations and warranties of the Loan Parties contained in Article V or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct in all material respects (except to the extent already qualified by materiality, in which case such representations and warranties shall be true and correct in all respects) on and as of the date of such Credit Extension, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 4.02, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01.
(b)No Default shall exist, or would result from such proposed Credit Extension or from the application of the proceeds thereof.
(c)If applicable, the Borrower shall deliver a pro forma calculation demonstrating that such Credit Extension(s) will be “Senior Debt” permitted under the Subordination Provisions of any Subordinated Debt.
(d)The Administrative Agent and, if applicable, the L/C Issuer or the Swing Line Lender shall have received a Request for Credit Extension in accordance with the requirements hereof.
Each Request for Credit Extension submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in Sections 4.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension.

		
	ARTICLE V.
	  REPRESENTATIONS AND WARRANTIES

The Loan Parties represent and warrant to the Administrative Agent and the Lenders that:
5.01.    Existence, Qualification and Power; Compliance with Laws .  Each Loan Party and each Subsidiary thereof (a) is duly organized or formed, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite corporate or other organizational power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, (c) is duly qualified and is licensed and in good standing under the Laws of each jurisdiction where such qualification is required for the conduct of its business, and (d) is in compliance with all Laws; except in each case referred to in clause (b)(i), (c) or (d), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect.
5.02.    Authorization; No Contravention .  The execution, delivery and performance by each Loan Party of each Loan Document to which such Loan Party is party, have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of such Loan Party's Organization Documents; (b) conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made under (i) any Contractual Obligation to which such Loan Party is a party or affecting such Loan Party or the properties of such Loan Party or any of its Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Loan Party or its property is subject; or (c) violate any Law.  Each Loan Party and each Subsidiary 

thereof is in compliance with all Contractual Obligations referred to in clause (b)(i), except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect.
5.03.    Governmental Authorization; Other Consents .  No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with (a) the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document, (b) the grant by any Loan Party of the Liens granted by it pursuant to the Collateral Documents, (c) the perfection or maintenance of the Liens created under the Collateral Documents (including the first priority nature thereof) or (d) the exercise by the Administrative Agent or any Lender of its rights under the Loan Documents or the remedies in respect of the Collateral pursuant to the Collateral Documents (except, solely with respect to clause (d), to the extent such approval, consent, exemption, authorization, notice or filing is required solely due to the Administrative Agent's business, operations or status as a national banking association).
5.04.    Binding Effect .  This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly executed and delivered by each Loan Party that is party thereto.  This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is party thereto in accordance with its terms.
5.05.    Financial Statements; No Material Adverse Effect
(a)The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition of the Loan Parties and their Subsidiaries as of the date thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of the Loan Parties and their Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness.
(b)The unaudited consolidated balance sheet of Holdings and its Subsidiaries dated September 8, 2012, and the related consolidated statements of income or operations and cash flows for the Reference Period ended on that date (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present the financial condition of the Loan Parties and their Subsidiaries as of the date thereof and their results of operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments.  Schedule 5.05 sets forth all material indebtedness and other liabilities, direct or contingent, of the Loan Parties and their consolidated Subsidiaries as of the date of such financial statements, including liabilities for taxes, material commitments and Indebtedness.
(c)Since the date of the Audited Financial Statements, there has been no event or circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect.
(d)The consolidated forecasted balance sheet and statements of income and cash flows of Holdings and its Subsidiaries delivered pursuant to Section 6.01(c) were prepared in good faith on the basis of the assumptions stated therein, which assumptions were fair in light of the conditions existing at the time of delivery of such forecasts, and represented, at the time of delivery, the Loan Parties' best estimate of their future financial condition and performance, except for potential acquisition activity.

5.06.    Litigation .  There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of any Responsible Officer of the Loan Parties after due and diligent investigation, threatened, at law, in equity, in arbitration or before any Governmental Authority, by or against the Loan Parties or any of their Subsidiaries or against any of their properties or revenues that (a) purport to affect or pertain to this Agreement or any other Loan Document, or any of the transactions contemplated hereby, or (b) except as specifically disclosed in Schedule 5.06, either individually or in the aggregate, if determined adversely, could reasonably be expected to have a Material Adverse Effect, and there has been no adverse change in the status, or financial effect on any Loan Party or any Subsidiary thereof, of the matters described on Schedule 5.06.
5.07.    No Default .  Neither the Loan Parties nor any Subsidiary is in default under or with respect to any Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.  No Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan Document.
5.08.    Ownership of Property; Liens .  Each of the Loan Parties and each Subsidiary has good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.  The property of the Loan Parties is subject to no Liens, other than Liens permitted by Section 7.01.
5.09.    Environmental Compliance .  The Loan Parties have conducted a review, consistent with reasonable and customary standards of the waste recycling industry, of the effect of existing Environmental Laws and claims alleging potential liability or responsibility for violation of any Environmental Law on their respective businesses, operations and properties, and as a result thereof the Loan Parties have reasonably concluded that, except as specifically disclosed in Schedule 5.09:
(b)none of the Loan Parties or their Subsidiaries has received written notice from any third party including, without limitation, any Governmental Authority, (i) that any one of them has been identified by the United States Environmental Protection Agency (“EPA”) as a potentially responsible party under CERCLA with respect to a site listed on the National Priorities List, 40 C.F.R. Part 300 Appendix B; (ii) that, except in instances that could not reasonably be expected to result in aggregate liabilities, obligations or losses (collectively, “Losses”) in excess of the Threshold Amount, any hazardous waste, as defined by 42 U.S.C. §6903(5), any hazardous substances as defined by 42 U.S.C. §9601(14), any pollutant or contaminant as defined by 42 U.S.C. §9601(33) and any other Hazardous Materials which any one of them has generated, transported or disposed of has been found at any site at which a Governmental Authority has conducted or has ordered that any of the Loan Parties conduct a remedial investigation, removal or other response action pursuant to any Environmental Law; or (iii) that, except in instances that could not reasonably be expected to result in aggregate Losses in excess of the Threshold Amount, any of them is or shall be a named party to any claim, action, cause of action, complaint, or legal or administrative proceeding (in each case, contingent or otherwise) arising out of any third party's incurrence of costs, expenses, losses or damages of any kind whatsoever in connection with the release of Hazardous Materials;
(c)(i) no portion of the Real Estate is being used by any Loan Party, any Person acting at the request of, on behalf of or through any Loan Party or any Person otherwise permitted to be on the Real Estate by any Loan Party for the handling, processing, storage or disposal of Hazardous Materials except in material compliance with applicable Environmental Laws; (ii) no underground tank or other underground storage receptacle for Hazardous Materials has been installed or otherwise affixed by any Loan Party on any portion of the Real Estate, (iii) to the best of the Loan Parties' knowledge, no underground tank or other underground storage receptacle for Hazardous Materials is otherwise located on any portion of the Real Estate; (iv) in the course of any activities conducted by the Loan Parties or operators of their properties, no Hazardous Materials 

have been generated or are being used on the Real Estate except in material compliance with applicable Environmental Laws; (v) to the best of the Loan Parties' knowledge, there have been no releases (i.e., any past or present releasing, spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, disposing or dumping) or threatened releases of Hazardous Materials on, upon, into or from the properties of the Loan Parties, which releases would reasonably be expected to have a Material Adverse Effect on the value of any of the Real Estate or any properties to which Hazardous Materials have migrated from the Real Estate; (vi) to the best of the Loan Parties' knowledge, there have been no releases on, upon, from or into any real property in the vicinity of any of the Real Estate which, through soil or groundwater contamination, may have come to be located on, and which would reasonably be expected to have a Material Adverse Effect on the value of, the Real Estate; and (vii) in addition, any Hazardous Materials that have been generated or stored on any of the Real Estate have been transported offsite only by carriers having an identification number issued by the EPA (or the equivalent thereof in any foreign jurisdiction), and, to the best of the Loan Parties' knowledge, treated or disposed of only by treatment or disposal facilities maintaining valid permits as required under applicable Environmental Laws, which transporters and facilities, to the best of the Loan Parties' knowledge, have been and are operating in material compliance with such permits and applicable Environmental Laws.
5.10.    Insurance .  The properties of the Loan Parties and their Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates of the Loan Parties, in such amounts (after giving effect to any self-insurance compatible with the following standards), with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the Loan Parties and/or applicable Subsidiary operate.  
5.11.    Taxes .  The Loan Parties and their Subsidiaries have filed all Federal, state and other material tax returns and reports required to be filed, and have paid all Federal, state and other material taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP.  There is no proposed tax assessment against the Loan Parties or their Subsidiaries that would, if made, have a Material Adverse Effect.
5.12.    ERISA Compliance
(d)Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other Federal or state laws.  Each Pension Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue Service to the effect that the form of such Plan is qualified under Section 401(a) of the Code and the trust related thereto has been determined by the Internal Revenue Service to be exempt from federal income tax under Section 501(a) of the Code, or an application for such a letter is currently being processed by the Internal Revenue Service.  To the best knowledge of the Loan Parties, nothing has occurred that would prevent or cause the loss of such tax-qualified status.
(e)There are no pending or, to the best knowledge of the Loan Parties, threatened claims, actions or  lawsuits, or action by any Governmental Authority, with respect to any Plan that  could reasonably be expected to have a Material Adverse Effect.  There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect.
(f)(i) No ERISA Event has occurred, and no Loan Party nor any ERISA Affiliate is aware of any fact, event or circumstance that could reasonably be expected to constitute or result in an ERISA Event with 

respect to any Pension Plan; (ii) the Loan Parties and each ERISA Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the minimum funding standards under the Pension Funding Rules has been applied for or obtained; (iii) as of the most recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is 60% or higher and no Loan Party nor any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation date; (iv) no Loan Party nor any ERISA Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and there are no premium payments which have become due that are unpaid; (v) no Loan Party nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; and (vi) no Pension Plan has been terminated by the plan administrator thereof nor by the PBGC, and no event or circumstance has occurred or exists that could reasonably be expected to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan.
5.13.    Subsidiaries .  Holdings has no Subsidiaries other than those specifically disclosed in Part (a) of Schedule 5.13, and all of the outstanding Equity Interests in such Subsidiaries have been validly issued, are fully paid and nonassessable and are owned by a Loan Party in the amounts specified on Part (a) of Schedule 5.13 free and clear of all Liens.  The Loan Parties have no equity investments in any other corporation or entity other than those specifically disclosed in Part (b) of Schedule 5.13.  All of the outstanding Equity Interests in the Loan Parties have been validly issued and are fully paid and nonassessable and are owned by those Persons and in the amounts specified on Part (a) of Schedule 5.13 free and clear of all Liens.  Part (a) of Schedule 5.13 identifies whether each Guarantor is an ECP Guarantor or a Non-ECP Guarantor.
5.14.    Margin Regulations; Investment Company Act; Public Utility Holding Company Act
(g)None of the Loan Parties is engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock.  Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more than 25% of the value of the assets (of any Loan Party or of the Loan Parties on a consolidated basis) subject to the provisions of Section 7.01 or Section 7.05 or subject to any restriction contained in any agreement or instrument between the Loan Parties and any Lender or any Affiliate of any Lender relating to Indebtedness and within the scope of Section 8.01(e) will be margin stock.
(h)None of the Loan Parties, any Person Controlling the Loan Parties, or any Subsidiary (i) is a “holding company,” or a “subsidiary company” of a “holding company,” or an “affiliate” of a “holding company” or of a “subsidiary company” of a “holding company,” within the meaning of the Public Utility Holding Company Act of 2005, or (ii) is or is required to be registered as an “investment company” under the Investment Company Act of 1940.
5.15.    Disclosure .  As set forth in Schedule 5.15, the Loan Parties have disclosed to the Administrative Agent and the Lenders all material agreements, instruments and corporate or other restrictions and all other matters known to them that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect.  No report, financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each case, as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided 

that, with respect to projected financial information, the Loan Parties represent only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time of preparation.
5.16.    Compliance with Laws .  Each of the Loan Parties is in compliance in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.
5.17.    Intellectual Property; Licenses, Etc .  The Loan Parties own, or possess the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses and other intellectual property rights that are reasonably necessary for the operation of their respective businesses, without conflict with the rights of any other Person.  To the best knowledge of the Loan Parties, no slogan or other advertising device, product, process, method, substance, part or other material now employed, or now contemplated to be employed, by the Loan Parties or any Subsidiary infringes upon any rights held by any other Person.  No claim or litigation regarding any of the foregoing is pending or, to the best knowledge of the Loan Parties, threatened, which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.
5.18.    Rights in Collateral; Priority of Liens .  Each of the Loan Parties owns the property granted by it as Collateral under the Collateral Documents, free and clear of any and all Liens other than Permitted Liens.  Upon the proper filing of UCC financing statements, and the taking of the other actions required by the Required Lenders, the Liens granted pursuant to the Collateral Documents will constitute valid and enforceable first, prior and perfected Liens on the Collateral in favor of the Administrative Agent, for the benefit of the Secured Parties.
5.19.    Permits and Licenses .  All permits and licenses necessary for the operation of the Loan Parties' business have been obtained and remain in full force and effect and are not subject to any appeals or further proceedings or to any unsatisfied conditions that may allow material modification or revocation.  None of the Loan Parties, any of their Subsidiaries nor, to the knowledge of a Responsible Officer of the Loan Parties, the holder of such licenses or permits is in violation of any such licenses or permits, except for any violation which would not have an adverse effect on the business, operations or financial condition of the Loan Parties.
5.20.    Certain Transactions .  Except as set forth on Schedule 5.20 or as permitted in Section 7.08, and except for arm's length transactions pursuant to which the Loan Parties make payments in the ordinary course of business upon terms no less favorable than the Loan Parties could obtain from third parties, none of the officers, directors, or employees of the Loan Parties are presently a party to any transaction with the Loan Parties (other than for services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of the Loan Parties, any corporation, partnership, trust or other entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner, the value of such transaction, when aggregated with all other such transactions occurring during the term of this Agreement, exceeds the Threshold Amount.
5.21.    Taxpayer Identification Number .  Each Loan Party's true and correct U.S. taxpayer identification number is set forth on Schedule 5.21.

5.22.    Solvency .  Each Loan Party is, individually and together with its Subsidiaries on a consolidated basis, Solvent.
5.23.    Labor Matters .  There are no collective bargaining agreements or Multiemployer Plans covering the employees of any Loan Party or any of its Subsidiaries as of the Closing Date and none of the Loan Parties nor any Subsidiary has suffered any strikes, walkouts, work stoppages or other material labor difficulty within the last five years.
5.24.    OFAC.  No Loan Party, nor any Related Party, (i) is currently the subject of any Sanctions, (ii) is located, organized or residing in any Designated Jurisdiction, or (iii) except as set forth in Schedule 5.24, is or has been (within the previous five (5) years) engaged in any transaction with any Person who is now or was then the subject of Sanctions or who is located, organized or residing in any Designated Jurisdiction.  No Loan, nor the proceeds from any Loan, has been used, directly or indirectly, to lend, contribute, provide or has otherwise made available to fund any activity or business in any Designated Jurisdiction or to fund any activity or business of any Person located, organized or residing in any Designated Jurisdiction or who is the subject of any Sanctions, or in any other manner that will result in any violation by any Person (including any Lender, the Arranger, the Administrative Agent, the L/C Issuer or the Swing Line Lender) of Sanctions.
5.25.    True Copies of Organization Documents.  The Borrower has furnished to the Administrative Agent and the Lenders copies, in each case true and complete as of the Closing Date, of all Organization Documents of each Loan Party.
5.26.    Subordinated Debt.  The Obligations constitute “senior debt” (or a similar term) under all Subordinated Debt.
		
	ARTICLE VI.
	AFFIRMATIVE COVENANTS

So long as any Lender shall have any Revolving Commitment hereunder and this Agreement has not been terminated, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Loan Parties shall, and shall (except in the case of the covenants set forth in Sections 6.01, 6.02 and 6.03) cause each Subsidiary to:
6.01.    Financial Statements .  Deliver to the Administrative Agent and to each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders:
(a)as soon as available, but in any event within ninety (90) days after the end of each fiscal year of Holdings, a consolidated and consolidating balance sheet of Holdings and its Subsidiaries as at the end of such fiscal year, and the related consolidated and consolidating statements of income or operations, changes in shareholders' equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, such consolidated statements to be audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing reasonably acceptable to the Administrative Agent (the “Accountants”), which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit and such consolidating statements to be certified by a Responsible Officer of the Borrower to the effect that such statements are fairly stated in all material respects when considered in relation to the consolidated financial statements of Holdings and its Subsidiaries;

(b)as soon as available, but in any event within forty-five (45) days after the end of each of the first three fiscal quarters of Holdings in each fiscal year, a consolidated and consolidating balance sheet of Holdings and its Subsidiaries as at the end of such fiscal quarter, and the related consolidated and consolidating statements of income or operations for such reporting period, the portion of Holdings' fiscal year then ended and the fiscal quarter then ended, all in reasonable detail, such consolidated statements to be certified by a Responsible Officer of the Borrower as fairly presenting the financial condition, results of operations of Holdings and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes and such consolidating statements to be certified by a Responsible Officer of the Borrower to the effect that such statements are fairly stated in all material respects when considered in relation to the consolidated financial statements of Holdings and its Subsidiaries; and 
(c)as soon as available, but in any event within sixty (60) days after the end of each fiscal year of the Borrower, forecasts prepared by management of the Borrower, in form satisfactory to the Administrative Agent, of consolidated balance sheets and statements of income or operations and cash flows of Holdings and its Subsidiaries on a four week reporting period basis for the new fiscal year (including the fiscal year in which the Maturity Date occurs).
6.02.    Certificates; Other Information .  Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders:
(d)concurrently with the delivery of the financial statements referred to in Sections 6.01(a) and (b), a duly completed Compliance Certificate signed by a Responsible Officer of the Borrower;
(e)promptly after any request by the Administrative Agent or any Lender, copies of any detailed audit reports, management letters or recommendations submitted to the board of directors (or the audit committee of the board of directors) of the Loan Parties by independent accountants in connection with the accounts or books of the Loan Parties, or any audit of any of them;
(f)promptly after the same are available, copies of each annual report, proxy or financial statement or other report or communication sent to the stockholders of Holdings, and copies of all annual, regular, periodic and special reports and registration statements which Holdings may file or be required to file with the SEC under Section 13 or 15(d) of the Exchange Act, and not otherwise required to be delivered to the Administrative Agent and the Lenders pursuant hereto;
(g)promptly, and in any event within five (5) Business Days after receipt thereof by any Loan Party or any Subsidiary thereof, copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or possible investigation or other inquiry by such agency regarding financial or other operational results of any Loan Party or any Subsidiary thereof;
(h)promptly, such additional information regarding the business, financial or corporate affairs of the Loan Parties, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time to time reasonably request;
(i)as part of the Compliance Certificate delivered pursuant to clause (a) above, each in form and substance satisfactory to the Administrative Agent, a certification by a Responsible Officer of the Borrower (i) a report supplementing Schedule 5.13 (Subsidiaries and other Equity Investments) containing a description of all changes in the information included in such Schedule as may be necessary for such Schedule to be accurate and complete, and (ii) a certification that complete and correct copies of all documents modifying 

any term of any Organization Document of any Loan Party on or prior to the date of delivery of such Compliance Certificate have been delivered to the Administrative Agent or are attached to such certificate.
The Loan Parties hereby acknowledge that (a) the Administrative Agent and/or the Arranger may, but shall not be obligated to, make available to the Lenders and the L/C Issuer materials and/or information provided by or on behalf of the Loan Parties hereunder (collectively, “Borrower's Materials”) by posting the Borrower's Materials on Debt Domain, IntraLinks, Syndtrak or another similar electronic system (the “Platform”) and (b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material non-public information with respect to the Loan Parties or their Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such Persons' securities.  The Loan Parties hereby agree that it will use commercially reasonable efforts to identify that portion of the Borrower's Materials that may be distributed to the Public Lenders and that (w) all such Borrower's Materials shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower's Materials “PUBLIC,” the Loan Parties shall be deemed to have authorized the Administrative Agent, the Arranger, the L/C Issuer and the Lenders to treat such Borrower's Materials as not containing any material non-public information (although it may be sensitive and proprietary) with respect to the Loan Parties or their securities for purposes of United States Federal and state securities laws (provided, however, that to the extent such Borrower's Materials constitute Information, they shall be treated as set forth in Section 11.07); (y) all Borrower's Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Side Information;” and (z) the Administrative Agent and the Arranger shall be entitled to treat any Borrower's Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.”
6.03.    Notices .  Promptly notify the Administrative Agent and each Lender:
(j)of the occurrence of any Default or Event of Default; provided that, the Loan Parties will include in such notice or otherwise deliver forthwith to the Lenders a certificate specifying the nature and period of existence thereof and what action the Loan Parties propose to take with respect thereto;
(k)of any matter that has resulted or could reasonably be expected to result in potential liability in excess of the Threshold Amount or in a Material Adverse Effect, including (i) breach or non-performance of, or any default under, a Contractual Obligation of the Loan Parties or any Subsidiary; (ii) any dispute, litigation, investigation, proceeding or suspension between the Loan Parties or any Subsidiary and any Governmental Authority; or (iii) the commencement of, or any material development in, any inquiry, investigation, litigation or proceeding affecting the Loan Parties or any Subsidiary, including pursuant to any applicable Environmental Laws (including any written notice from any Governmental Authority of any potential environmental liability);
(l)of the occurrence of any ERISA Event; 
(m)of any material change in accounting policies or financial reporting practices by the Loan Parties or any Subsidiary, including any determination by the Loan Parties referred to in Section 2.10(b);
(n)of the entering into any collective bargaining agreement, Multiemployer Plan or tax sharing agreement after the Closing Date and the opening of any deposit account or securities account after the Closing Date; and
(o)an amendment to any of the Loan Parties' Organization Documents attaching a true and correct copy of such amendment.

Each notice pursuant to this Section shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and stating what action the Loan Parties have taken and proposes to take with respect thereto.  Each notice pursuant to Section 6.03(a) shall describe with particularity any and all provisions of this Agreement and any other Loan Document that have been breached.
6.04.    Payment of Obligations .  Pay and discharge as the same shall become due and payable, all its obligations and liabilities, including (a) all tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Loan Parties or such Subsidiary; (b) all lawful claims which, if unpaid, would by law become a Lien upon its property, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Loan Parties or such Subsidiary and (c) all Indebtedness, as and when due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness.
6.05.    Preservation of Existence, Etc .  (a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization except in a transaction permitted by Section 7.04 or 7.05; (b) take all reasonable action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably be expected to have a Material Adverse Effect.
6.06.    Maintenance of Properties .  (a) Maintain, preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted; (b) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) use the standard of care typical in the industry in the operation and maintenance of its facilities.
6.07.    Maintenance of Insurance .  (a) Maintain with financially sound and reputable insurance companies not Affiliates of the Loan Parties, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such amounts (after giving effect to any self-insurance compatible with the following standards) as are customarily carried under similar circumstances by such other Persons and providing for not less than 30 days' prior notice to the Administrative Agent of termination, lapse or cancellation of such insurance (or 10 days' prior notice of cancellation due to non-payment of premium), and (b) pay all premiums therefor, and all amounts owing under all insurance premium finance agreements, as and when due.  Notwithstanding the foregoing, the Loan Parties agree that the Administrative Agent may, in its sole discretion, and without any obligation to do so, pay any insurance premiums then due and payable, and any amounts due and payable under insurance premium finance agreements, and any amounts so paid by the Administrative Agent shall constitute Committed Loans hereunder.
6.08.    Compliance with Laws, Contracts, Licenses and Permits; Maintenance of Material Licenses and Permits .  (a) Comply in all material respects with all agreements and instruments by which it or any of its properties may be bound and the requirements of all Laws (including Environmental Laws) and all orders, writs, injunctions, decrees, licenses and permits (including environmental permits) applicable to it or to its business or property, except in such instances in which (i) such requirement of any agreement or instrument or Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or (ii) the failure to comply therewith could not reasonably be expected 

to have a Material Adverse Effect; (b) maintain all material operating permits and licenses for all landfills now owned or hereafter acquired; (c) dispose of hazardous waste only at permitted disposal facilities operating, to the best of such the Loan Parties' knowledge after reasonable inquiry, in material compliance with applicable Environmental Laws; and (d) if at any time any authorization, consent, approval, permit or license from any office, agency or instrumentality of any Governmental Authority shall become necessary or required in order that the Loan Parties or any of their Subsidiaries may fulfill any of their obligations hereunder, such Loan Party or such Subsidiary will immediately take or cause to be taken all reasonable steps within the power of such Loan Party or such Subsidiary to obtain such authorization, consent, approval, permit or license and promptly furnish the Administrative Agent and the Lenders with evidence thereof.
6.09.    Books and Records .  (a)  Maintain proper books of record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the Loan Parties or such Subsidiary, as the case may be; and (b) maintain such books of record and account in material conformity with all applicable requirements of any Governmental Authority having regulatory jurisdiction over the Loan Parties or such Subsidiary, as the case may be.
6.10.    Inspection Rights .  Permit representatives and independent contractors of the Administrative Agent and each Lender to visit and visually inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants, all at the expense of the Loan Parties and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Loan Parties; provided, however, that if an Event of Default has occurred and is continuing the Administrative Agent or any Lender (or any of their respective representatives or independent contractors) may do any of the foregoing at the expense of the Loan Parties at any time during normal business hours and without advance notice.  
6.11.    Use of Proceeds .  Use the proceeds of the Credit Extensions (a) to repay Indebtedness under the Existing Credit Agreement, (b) for Capital Expenditures permitted under Section 7.11(c), (c) for Permitted Acquisitions, and (d) for working capital and general corporate purposes.
6.12.    Collateral Records .  Execute and deliver promptly to the Administrative Agent, from time to time, solely for the Administrative Agent's convenience in maintaining a record of the Collateral, such written statements, schedules and lien searches as the Administrative Agent may reasonably require designating, identifying or describing the Collateral.  The failure by the Borrower or any other Loan Party, however, to promptly give the Administrative Agent such statements or schedules shall not affect, diminish, modify or otherwise limit the Liens on the Collateral granted pursuant to the Collateral Documents.
6.13.    Reserved.
6.14.    Additional Subsidiaries. 
(p)Cause each newly-created or newly-acquired Subsidiary to become a Guarantor hereunder and a party to the Collateral Documents by executing and delivering to the Administrative Agent a counterpart of a joinder agreement and providing such other documentation as the Administrative Agent shall deem appropriate for such purpose including, without limitation, amendments to the Securities Pledge Agreement or new pledge agreements in substantially the same form, mortgages or deeds of trust required by Section 6.15 below, Uniform Commercial Code searches and filings, and 100% of the Equity Interests and assets of each such new Subsidiary shall be pledged to the Administrative Agent, for the benefit of the Secured Parties, 

documents of the types referred to in clauses (iii) and (iv) of Section 4.01(a), and favorable opinions of counsel to such Person (which shall cover, among other things, the legality, validity, binding effect and enforceability of, inter alia, the joinder agreement, all in form, content and scope reasonably satisfactory to the Administrative Agent.  In such event, the Administrative Agent is hereby authorized by the parties hereto to amend Schedule 1 and Schedule 5.13 hereto to include each such new Subsidiary.
(q)Except as set forth in Schedule 6.14, cause each of the Loan Parties (other than Holdings and the Borrower) to be a direct or indirect wholly-owned Subsidiary of the Borrower, and cause 100% of the Equity Interests of the Borrower in each direct and indirect Subsidiary of the Borrower to be pledged to the Administrative Agent, for the benefit of the Secured Parties, pursuant to the Securities Pledge Agreement or pursuant to a pledge agreement in form and substance satisfactory to the Administrative Agent.
6.15.    Collateral Security .  Except as set forth in Schedule 6.14, cause the Obligations to be secured by (a) a perfected (except in Motor Vehicles and Real Estate on the Closing Date) first-priority security interest (subject to Permitted Liens entitled to priority under applicable Law) in all of the present and future property and assets, real and personal, of each of the Loan Parties, including, but not limited to, machinery and equipment, inventory and other goods, accounts receivable, owned real estate, leaseholds, fixtures, bank accounts, general intangibles, financial assets, investment property, license rights, patents, trademarks, tradenames, copyrights, chattel paper, insurance proceeds, contract rights, hedge agreements, documents, instruments, indemnification rights, tax refunds and cash of each Loan Party, whether now owned or hereafter acquired, pursuant to the terms of the Security Agreement (including all present and future intercompany debt of each of the Loan Parties and excluding fixed or capital assets subject to a purchase money financing or Capitalized Lease permitted under Section 7.03(e) (so long as such financing or lease remains in effect) to the extent that the terms of such financing expressly prohibits such security interest); and (b) a pledge of one hundred (100%) of all present and future capital stock or other Equity Interests of the Loan Parties (other than the Borrower) and their present and future Subsidiaries to the Administrative Agent, for the benefit of the Secured Parties pursuant to the Securities Pledge Agreement; provided that each of the Loan Parties hereby agrees, upon the request of the Administrative Agent, to deliver, as promptly as practicable, but in any event within sixty (60) days after request therefor, or such other later time, if any, to which the Administrative Agent may agree, (i) certificates of titles for all Motor Vehicles owned by the Loan Parties with the Administrative Agent listed as lienholder therein and, if required by the Administrative Agent, the Loan Parties shall have retained Corporation Service Company (or other similar company satisfactory to the Administrative Agent) pursuant to agreements reasonably satisfactory to the Administrative Agent pursuant to which Corporation Service Company (or such other company) will agree to act as agent for the Secured Parties with respect to the perfection of security interests in the Motor Vehicles owned by the Loan Parties; and (ii) mortgages with respect to Real Estate and to take such other steps and make such other deliveries as may be reasonably requested by the Administrative Agent (including, without limitation, the delivery of legal opinions, consulting engineer's reports, environmental site assessment reports, other environmental reports, surveys, landlord consents, flood insurance determination and any necessary flood insurance, and title insurance) so as to provide the Administrative Agent, for the benefit of the Secured Parties, a perfected first-priority security interest in such assets, provided that to the extent that any lease of (or operating/management agreement with respect to) Real Estate prohibits assignment of such lease (or operating/management agreement) without the consent of the lessor or another party thereunder, the Loan Parties shall not be required to grant a mortgage on the leasehold interest under such lease, but in such event, the Loan Parties agree to diligently and in good faith use its reasonable best efforts to obtain the consent (which consent shall be in form and substance reasonably satisfactory to the Administrative Agent) of the applicable lessor or other party to such leasehold mortgage (and, upon the receipt of such consent, the Loan Parties shall promptly grant such leasehold mortgage and comply with the other provisions of this Section 6.15 with respect thereto).

6.16.    Environmental Indemnification .  Jointly and severally, and each of the Loan Parties covenants and agrees to, indemnify and hold the Administrative Agent, the L/C Issuer and the Lenders, and their respective affiliates, agents, directors, officers and shareholders, harmless from and against any and all claims, expense, damage, loss or liability incurred by such indemnified parties (including all costs of legal representation incurred by such indemnified parties) relating to (a) any Release or threatened Release of Hazardous Materials on the Real Estate; (b) any violation of any Environmental Laws with respect to conditions at the Real Estate or the operations conducted thereon; or (c) the investigation or remediation of offsite locations at which the Loan Parties, or their predecessors are alleged to have directly or indirectly Disposed of Hazardous Materials.  It is expressly acknowledged by the Loan Parties that this covenant of indemnification shall survive any foreclosure or any modification, release or discharge of any or all of the Security Documents or the payment of the Loans and shall inure to the benefit of the Administrative Agent and the Lenders and their respective successors and assigns.
6.17    .Compliance with Environmental Laws; Environmental Reports.
(r)Comply, and cause all lessees and other Persons operating or occupying its properties to comply, in all material respects, with all applicable Environmental Laws and Environmental Permits; obtain and renew all Environmental Permits necessary for its operations and properties; and conduct any investigation, study, sampling and testing, and undertake any cleanup, removal, remedial or other action necessary to remove and clean up all Hazardous Materials from any of its properties, in accordance with the requirements of all Environmental Laws; provided, however, that none of the Loan Parties nor any of their Subsidiaries shall be required to undertake any such cleanup, removal, remedial or other action to the extent that its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP.  
(s)Furnish to the Administrative Agent promptly and in any event within thirty (30) days after receipt thereof a copy of any notice, summons, lien, citation, directive, letter or other communication from any governmental agency or instrumentality concerning any intentional or unintentional action or omission on such Loan Party's or Subsidiary's part in connection with any environmental activity whether or not there is damage to the environment and/or other natural resources; provided that such notices shall be required only for such notices or claims that would require expenditures and/or payment of fines by such Loan Party or Subsidiary in excess of $1,000,000, individually or in the aggregate, in any fiscal year.
6.18.    Further Assurances.
(t)Cooperate with the Lenders and the Administrative Agent and execute such further instruments and documents as the Lenders or the Administrative Agent shall reasonably request to carry out to their satisfaction the transactions contemplated by this Agreement. 
(u)From time to time upon the request of the Administrative Agent or any Lender, including in connection with any Loan Party entering into a Hedge Agreement, promptly provide to the Administrative Agent or such Lender with a written certification, and any reasonably requested evidence, of any Guarantor's status at such time as an ECP Guarantor or a Non-ECP Guarantor.
6.19.    Obligations as Senior Debt.  To the extent applicable, designate the Obligations of the Credit Parties hereunder as “senior debt” (or a similar term) under any Subordinated Debt.
6.20.    Swap Contracts.  Enter into Swap Contracts in the ordinary course of business and not for speculative purposes on terms which are consistent with the past practices of the Loan Parties.

		
	ARTICLE VII.
	NEGATIVE COVENANTS

So long as any Lender shall have any Revolving Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Loan Parties shall not, nor shall they permit any Subsidiary to, directly or indirectly:
7.01.    Liens .  Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, or sign or file or suffer to exist under the Uniform Commercial Code of any jurisdiction a financing statement that names the Loan Parties or any of their Subsidiaries as debtor, or assign any accounts or other right to receive income other than the following:
(a)Liens pursuant to any Loan Document;
(b)Liens existing on the date hereof and listed on Schedule 7.01 and any renewals or extensions thereof, provided that (i) the property covered thereby is not changed, (ii) the amount secured or benefited thereby is not increased, (iii) the direct or any contingent obligor with respect thereto is not changed, and (iv) and any renewal or extension of the obligations secured or benefited thereby is permitted by Section 7.03(b);
(c)Liens for taxes not yet due or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP;
(d)carriers', warehousemen's, mechanics', materialmen's, repairmen's or other like Liens arising in the ordinary course of business which are not overdue for a period of more than thirty (30) days or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person;
(e)pledges or deposits in the ordinary course of business in connection with workers' compensation, unemployment insurance, medical and health insurance and other social security legislation, other than any Lien imposed by ERISA;
(f)deposits to secure the performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; provided, that any deposits to secure obligations under surety and appeal bonds or performance bonds (or any similar arrangement) shall be arranged in the ordinary course of business and shall not cash collateralize all or any material portion of the obligations thereunder;
(g)easements, rights-of-way, restrictions, plats (subject to Section 7.05), re-plats (subject to Section 7.05) and other similar encumbrances affecting real property which, in the aggregate, are not substantial in amount, and which do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person;
(h)Liens securing judgments for the payment of money not constituting an Event of Default under Section 8.01(h);
(i)Liens securing Indebtedness permitted under Section 7.03(e); provided, that (i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and (ii) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being acquired on the date of acquisition; and

(j)bankers' Liens, rights of setoff and other similar Liens existing solely with respect to cash and Cash Equivalents on deposit in one or more of accounts maintained by a Loan Party with any Lender, in each case in the ordinary course of business in favor of the bank or banks with which such accounts are maintained, securing solely the customary amounts owing to such bank with respect to cash management and operating account arrangements; provided, that in no case shall any such Liens secure (either directly or indirectly) the repayment of any Indebtedness.
7.02.    Investments .  Make any Investments, except:
(k)Investments held by a Loan Party or Subsidiary in the form of Cash Equivalents or short-term marketable debt securities;
(l)Subject to Section 11.19, Investments by any Loan Party in any other Loan Party;
(m)Reserved.
(n)Investments consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably necessary in order to prevent or limit loss; 
(o)Investments in the form of Permitted Acquisitions and Indebtedness permitted under Section 7.03;
(p)advances to officers, directors and employees of the Loan Parties and Subsidiaries in an aggregate amount not to exceed $500,000 at any time outstanding, for travel, entertainment, relocation and analogous ordinary business purposes; provided, that, if the aggregate amount of advances to any officer, director or employee exceed $125,000, such advances shall be evidenced by a promissory note which shall be delivered to Lender and pledged to Lender to secure the Obligations; and
(q)other Investments and advances not to exceed $500,000 in the aggregate at any time outstanding; provided, that no Loan Party may make Investments in Mirachem under this clause (g).
7.03.    Indebtedness .  Create, incur, assume or suffer to exist any Indebtedness, except:
(r)Indebtedness under the Loan Documents;
(s)Indebtedness outstanding on the date hereof and listed on Schedule 7.03 and any refinancings, refundings, renewals or extensions thereof, which may include any increases thereof so long as, in each case, such increase is permitted pursuant to and included in calculating the amount of Indebtedness permitted under Section 7.03(e); provided, that (i) except as provided above, the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder and (ii) the terms relating to principal amount, amortization, maturity, collateral (if any) and subordination (if any), and other material terms taken as a whole, of any such refinancing, refunding, renewing or extending Indebtedness, and of any agreement entered into and of any instrument issued in connection therewith, are no less favorable in any material respect to the Loan Parties or the Lenders than the terms of any agreement or instrument governing the Indebtedness being refinanced, refunded, renewed or extended and the interest rate applicable to any such refinancing, refunding, renewing or extending Indebtedness does not exceed then applicable market interest rate;

(t)obligations (contingent or otherwise) of the Loan Parties existing or arising under any Swap Contract (other than Fuel Derivatives Obligations), provided, that (i) such obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person, or changes in the value of securities issued by such Person, and not for purposes of speculation or taking a “market view;” and (ii) such Swap Contract does not contain any provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party;
(u)Indebtedness of the Loan Parties entered into to hedge the costs of fuel purchased in the ordinary course of business of the Loan Parties with respect to Fuel Derivatives Obligations, provided that the maturity of such agreements do not exceed twenty four (24) months and provided that no Loan Party will enter into a credit support annex or similar agreement in connection with such Fuel Derivatives Obligations unless otherwise permitted to do so hereunder;
(v)Indebtedness in respect of Capitalized Leases, Synthetic Lease Obligations and purchase money obligations for fixed or capital assets of the Loan Parties within the limitations set forth in Section 7.01(j); provided, however, that the aggregate amount of all such Indebtedness, shall not exceed $1,000,000;
(w)Subordinated Debt which shall be subordinated and made junior to the payment and performance in full in cash of the Obligations on terms acceptable to, and otherwise be on terms reasonably acceptable to, the Administrative Agent;
(x)Indebtedness pursuant to any Cash Management Agreement incurred in the ordinary course of business and customary for Cash Management Agreements generally;
(y)Unsecured Indebtedness arising in connection with endorsement of instruments for deposit in the ordinary course of business;
(z)Other unsecured Indebtedness not to exceed $500,000 at any time outstanding; and
(aa)Subject to Section 11.19, Guarantees of any Loan Party in respect of Indebtedness otherwise permitted hereunder.
7.04.    Fundamental Changes .  Merge, dissolve, liquidate, consolidate with or into another Person, Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, or acquire all or substantially all of the assets or more than fifty percent (50%) (or other interest that would require consolidation of the acquired Person with the Loan Parties under GAAP (including pursuant to Section 1.03(c))) of the Equity Interests of any other Person, except that, so long as no Default or Event of Default exists or would result therefrom:
(ab)any Loan Party (other than Holdings or the Borrower) may merge or consolidate with another Loan Party; and
(ac)any Loan Party (other than Holdings or the Borrower) may (i) Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to another Loan Party, and (ii) make Dispositions permitted by Section 7.05; and
(ad)any Loan Party may purchase or otherwise acquire all or substantially all of the assets or 100% of the Equity Interests of any other Person (a “Permitted Acquisition”), provided, that:

(i)at the time of such acquisition, no Default or Event of Default has occurred and is continuing, and such acquisition will not otherwise create a Default or an Event of Default hereunder;
(ii)such Loan Party shall be the surviving Person in any merger or consolidation;
(iii)the business to be acquired operates predominantly in the United States or Canada;
(iv)the business to be acquired is predominantly in the same lines of business as the Loan Parties, or in businesses reasonably related or incidental thereto or reasonable extensions thereof;
(v)the board of directors and (if required by applicable law) the shareholders, or the equivalent of each thereof, of the business to be acquired have approved such acquisition as evidenced by written resolutions or consents evidencing such approval;
(vi)(A) in the case of an asset acquisition, all of the assets acquired shall be acquired by a Loan Party or by a newly-created Subsidiary, and any such newly-created Subsidiary shall, within fifteen (15) days thereafter (or such longer period approved by the Administrative Agent), become a Loan Party hereunder in accordance with Section 6.14 and shall pledge (or cause to be pledged) all of its assets and 100% of its Equity Interests to the Administrative Agent for the benefit of the Lenders, or (B) in the case of an acquisition of the Equity Interests of the acquired company, such acquired company shall, within fifteen (15) days thereafter (or such longer period approved by the Administrative Agent), become a Loan Party in accordance with Section 6.14 and shall pledge (or cause to be pledged) all of its assets and shall pledge 100% of its Equity Interests to the Administrative Agent for the benefit of the Lenders, or such acquired company shall be merged or amalgamated with and into a Loan Party (which shall be the surviving entity), which shall otherwise comply with the provisions of Section 6.14 hereof;
(vii)after giving effect to such acquisition, the Loan Parties shall be in compliance, on a pro forma historical basis, with the financial covenants contained in Section 7.11 hereof (using EBITDA of the Loan Parties as at the end of the most recently completed Reference Period and Funded Debt as of the date of the acquisition, after giving effect to any Indebtedness incurred in connection therewith);
(viii)the total consideration to be paid by the Loan Parties in connection with any acquisition or series of related acquisitions (including in such total consideration deferred cash payments, contingent or otherwise, and the aggregate amount of all liabilities assumed or, in the case of a acquisition of the Equity Interests of the acquisition target, including all liabilities of such acquisition target) shall not exceed (x) $3,000,000 for each such acquisition (or series of related acquisitions) and (y) $10,000,000 in the aggregate for all such acquisitions consummated in any fiscal year, without in each case the written approval of the Administrative Agent and the Required Lenders;
(ix)in connection with any acquisition or series of related acquisitions requiring the written approval of the Administrative Agent and the Required Lenders pursuant to clause (viii) above, the Loan Parties shall furnish the Administrative Agent (which, in the case of items (B), (C) and (F) below and any additional items reasonably and customarily requested by any Lender, shall be distributed to the Lenders) with (A) a copy of the purchase agreement, (B) the audited or reviewed (if available, or otherwise unaudited) financial statements for the preceding three (3) fiscal years or such shorter period of time as such entity or division has been in existence, (C) financial projections, (D) a summary of the Loan Parties' results of their standard due diligence review including the results of UCC, tax lien, bankruptcy and litigation searches (and the equivalent thereof in all applicable 

foreign jurisdictions) with respect to the entities or assets being acquired, (E) at the request of the Administrative Agent, in the case of any acquisition of Real Estate or if the acquisition target owns Real Estate, a review by a consulting engineer satisfactory to the Administrative Agent and a copy of such consulting engineer's report, (F) a Compliance Certificate demonstrating compliance with the financial covenants contained in Section 7.11 on a pro forma historical combined basis as if the transaction occurred on the first day of the period of measurement (using EBITDA of the Loan Parties as at the end of the most recently completed Reference Period and Funded Debt as of the date of the acquisition, after giving effect to any indebtedness incurred in connection therewith), (G) written evidence that the board of directors and (if required by applicable law) the shareholders, or the equivalent thereof, of the business to be acquired have approved such acquisition, (H) environmental site assessments and such other environmental information and reports as the Administrative Agent shall request, (I) a Responsible Officer's Certificate of the Loan Parties listing all Permitted Acquisitions consummated in the applicable fiscal year and the cash consideration (including all deferred consideration) paid, or to be paid, by the Loan Parties in connection therewith, (J) evidence satisfactory to the Administrative Agent that all Liens on the entities and assets to be acquired have been terminated, or will be terminated automatically upon the consummation of the proposed acquisition (other than Liens expressly permitted under this Agreement), including, but not limited to, (x) payoff letters and collateral releases executed by each of the proposed acquisition target's secured lenders, if any, in form and substance satisfactory to the Administrative Agent, and (y) such UCC-3 termination statements, mortgage releases, intellectual property releases and other instruments and releases (or provision therefor satisfactory to the Administrative Agent) as are necessary to terminate such Liens (other than Liens expressly permitted under this Agreement); and (K) such other information as the Administrative Agent may reasonably request, which in each case shall be in form and substance reasonably acceptable to the Administrative Agent.
7.05.    Dispositions .  Make any Disposition or enter into any agreement to make any Disposition, except:
(ae)Dispositions of obsolete or worn out property, whether now owned or hereafter acquired, in the ordinary course of business;
(af)Dispositions of inventory in the ordinary course of business;
(ag)Dispositions of equipment or real property to the extent that (i) such property is exchanged for credit against the purchase price of similar replacement equipment or real property or (ii) the proceeds of such Disposition are applied to the purchase price of replacement equipment or real property within 90 days of such Disposition;
(ah)Subject to Section 11.19, Dispositions of property by a Loan Party to another Loan Party; and
(ai)Other Dispositions, provided that such Disposition shall not exceed $500,000 in any fiscal year.
provided, however, that any Disposition pursuant to clauses (a) through (e) shall be for fair market value.
7.06.    Restricted Payments .  Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that, so long as no Default or Event of Default shall have occurred and be continuing or would result therefrom:

(aj)Subject to Section 11.19, each Loan Party may make Restricted Payments to another Loan Party;
(ak)the Loan Parties may declare and make dividend payments or other distributions payable solely in the common stock or other common Equity Interests of such Person;
(al)the Loan Parties and each Subsidiary may purchase, redeem or otherwise acquire Equity Interests issued by it with the proceeds received from the substantially concurrent issue of new shares of its common stock or other common Equity Interests; and
(am)other Restricted Payments approved in writing by the Required Lenders.
7.07.    Change in Nature of Business .  Engage in any material line of business substantially different from those lines of business conducted by the Loan Parties on the date hereof or any business substantially related or incidental thereto.
7.08.    Transactions with Affiliates .  Other than those transactions set forth on Schedule 7.08 hereto or permitted under Section 7.04(a), enter into any transaction of any kind with any Affiliate of the Loan Parties, whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to the Loan Parties or such Subsidiary as would be obtainable by the Loan Parties or such Subsidiary at the time in a comparable arm's length transaction with a Person other than an Affiliate; provided, that, Subject to Section 11.19, any Loan Party shall be permitted to enter into any transaction with another Loan Party.
7.09.    Burdensome Agreements; Negative Pledges .  Except as set forth in Schedule 7.09, enter into any Contractual Obligation (other than this Agreement or any other Loan Document) that (a) limits the ability (i) of any Subsidiary to make Restricted Payments to the Loan Parties or to otherwise transfer property to the Loan Parties, (ii) of any Subsidiary to become a Loan Party hereunder or Guarantee the Indebtedness of any Loan Party or (iii) of the Loan Parties or any Subsidiary to create, incur, assume or suffer to exist Liens on property of such Person; provided, however, that this clause (iii) shall not prohibit any negative pledge incurred or provided in favor of any holder of Indebtedness permitted under Section 7.03(e) solely to the extent any such negative pledge relates to the property financed by or the subject of such Indebtedness; or (b) requires the grant of a Lien to secure an obligation of such Person if a Lien is granted to secure another obligation of such Person.
7.10.    Use of Proceeds .  Use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose.
7.11.    Financial Covenants
(an)Leverage Ratio.  Permit as at the end of any Reference Period (i) ending on or before the last day of the 2013 fiscal year, the ratio of (x) Funded Debt as of the last day of the Reference Period then ending, to (y) EBITDA for such Reference Period (the “Leverage Ratio”) to exceed 3.25:1.00 and (ii) ending at any time thereafter, the Leverage Ratio for the Reference Period then ending to exceed 3.00:1.00.
(ao)Interest Coverage Ratio.  Permit as at the end of any Reference Period, the ratio of (a) EBITDA for the Reference Period then ending to (b) Interest Expense for such Reference Period (the “Interest Coverage Ratio”) to be less than 3.50:1.00.

(ap)Capital Expenditures.  Make or become legally obligated to make any Capital Expenditures after the Closing Date, except for Capital Expenditures not exceeding, in the aggregate, 1.50 times the actual consolidated depreciation and amortization expenses incurred in any fiscal year; provided, that the following expenses may be excluded from the calculation of Capital Expenditures for the purposes of this Section 7.11(c): (x) up to $20,000,000 of expenses incurred by the Loan Parties in the 2013 and 2014 fiscal years in connection with the expansion of the Borrower's existing re-refining plant, and (y) up to $100,000,000 of expenses incurred by the Loan Parties in the aggregate in connection with the construction of a new re-refining plant during the 2014, 2015, 2016 and 2017 fiscal years.
7.12.    Subordinated Debt .  (a) Amend, supplement or otherwise modify the terms of the Subordinated Debt other than as permitted under the Subordination Agreement applicable thereto, (b) Make any payment or prepayment of principal of, or premium or interest on, any Subordinated Debt, other than as permitted under the Subordination Agreement applicable thereto, (c) redeem, retire, purchase, defease or otherwise acquire any Subordinated Liabilities except as permitted under the Subordination Agreement applicable thereto or (d) make any deposit (including the payment of amounts into a sinking fund or other similar fund) for any of the foregoing purposes.
7.13.    Amendments to Organization Documents .  Amend any of its Organization Documents in any manner that could reasonably be expected to be adverse to the Administrative Agent or the Lenders or otherwise result in a Material Adverse Effect.
7.14.    Sanctions.  Permit any Loan or the proceeds of any Loan, directly or indirectly, (i) to be lent, contributed or otherwise made available to fund any activity or business in any Designated Jurisdiction; (ii) to fund any activity or business of any Person located, organized or residing in any Designated Jurisdiction or who is the subject of any Sanctions; or (iii) in any other manner that will result in any violation by any Person (including any Lender, the Arranger, the Administrative Agent, the L/C Issuer or the Swing Line Lender) of any Sanctions.
7.15.    Holding Company .  In the case of Holdings, engage in any business or activity other than (a) the ownership of all outstanding Equity Interests in the Borrower, (b) maintaining its corporate existence, (c) participating in tax, accounting and other administrative activities as the parent of the consolidated group of companies, including the Loan Parties, (d) the execution and delivery of the Loan Documents to which it is a party and the performance of its obligations thereunder, and (e) activities incidental to the businesses or activities described in clauses (a) through (d) of this Section.
		
	ARTICLE VIII.
	EVENTS OF DEFAULT AND REMEDIES

8.01.    Events of Default .  Any of the following shall constitute an “Event of Default”:
(a)Non-Payment.  The Loan Parties fail to pay (i) when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii) within three (3) days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within five (5) days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or
(b)Specific Covenants.  The Loan Parties fail to perform or observe any term, covenant or agreement contained in any of Section 6.01, 6.02, 6.03, 6.05, 6.10, 6.11, 6.14, 6.15, 6.19 or Article VII; or

(c)Other Defaults.  Any Loan Party fails to perform or observe any other covenant or agreement (not specified in clause (a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days; or
(d)Representations and Warranties.  Any representation, warranty, certification or statement of fact made or deemed made by or on behalf of any Loan Party herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading when made or deemed made; or
(e)Cross-Default.  (i) the Loan Parties or any Subsidiary (A) fail to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount, or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which any Loan Party or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which any Loan Party or any Subsidiary is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by any Loan Party or such Subsidiary as a result thereof is greater than the Threshold Amount; or
(f)Insolvency Proceedings, Etc.  Any Loan Party or any of its Subsidiaries institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or
(g)Inability to Pay Debts; Attachment.  (i) Any Loan Party or any Subsidiary becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any such Person and is not released, vacated or fully bonded within thirty (30) days after its issue or levy; or
(h)Judgments.  There is entered against any one or more of the Loan Parties or any Subsidiary (i) one or more final judgments or orders for the payment of money in an aggregate amount (as to all such judgments and orders) exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer is rated at least “A” by A.M. Best Company, has been notified of the potential claim and does not dispute coverage), or (ii) any one or more non-monetary final judgments that 

have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of ten (10) consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect; or
(i)ERISA.  (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of the Loan Parties under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of the Threshold Amount, or (ii) the Loan Parties or any ERISA Affiliate fail to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of the Threshold Amount; or
(j)Invalidity of Loan Documents.  Any Loan Document  or any provision thereof, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect in any material respect; or any Loan Party or any other Person contests in any manner the validity or enforceability of any Loan Document or any provision thereof; or any Loan Party denies that it has any or further liability or obligation under any Loan Document, or purports to revoke, terminate or rescind any Loan Document or any provision thereof or any Collateral Document after delivery thereof pursuant to Section 4.01 or 6.12 shall for any reason (other than pursuant to the terms thereof) cease to create a valid and perfected first priority Lien (subject to Liens permitted by Section 7.01) on the Collateral purported to be covered thereby; or
(k)Subordination.  (i)  The subordination provisions of the documents evidencing or governing any Subordinated Debt (including any Subordination Agreement) (collectively, the “Subordination Provisions”) shall, in whole or in part, terminate, cease to be effective or cease to be legally valid, binding and enforceable against any holder of the applicable subordinated Indebtedness; or (ii) any Loan Party shall, directly or indirectly, disavow or contest in any manner (A) the effectiveness, validity or enforceability of any of the Subordination Provisions, (B) that the Subordination Provisions exist for the benefit of the Administrative Agent, the Lenders and the L/C Issuer or (C) that all payments of principal of or premium and interest on the applicable subordinated Indebtedness, or realized from the liquidation of any property of any Loan Party, shall be subject to any of the Subordination Provisions; or
(l)Material Adverse Effect.  There occurs any event or circumstance that has a Material Adverse Effect; or
(m)Change of Control.  There occurs any Change of Control.
8.02.    Remedies Upon Event of Default .  If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions:
(n)declare the commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated;
(o)declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Loan Parties;

(p)require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the Minimum Collateral Amount with respect thereto); and
(q)exercise on behalf of itself, the Lenders and the L/C Issuer all rights and remedies available to it, the Lenders and the L/C Issuer under the Loan Documents;
provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with respect to any Loan Party under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act of the Administrative Agent or any Lender.
8.03.    Application of Funds .  After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Obligations shall, subject to the provisions of Sections 2.15 and 2.16, be applied by the Administrative Agent in the following order:
First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such;
Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and L/C Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer (including fees and time charges for attorneys who may be employees of any Lender or the L/C Issuer) arising under the Loan Documents and amounts payable under Article III, ratably among them in proportion to the respective amounts described in this clause Second payable to them;
Third, to payment of that portion of the Obligations constituting accrued and unpaid L/C Fees and interest on the Loans, L/C Borrowings and other Obligations arising under the Loan Documents, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Third payable to them;
Fourth, to (i) payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Fourth held by them; (ii) to the Administrative Agent for the account of the L/C Issuer, to Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit; and (iii) to payment of Obligations then owing under Hedge Agreements and Cash Management Agreements, ratably among the Hedge Banks and the Cash Management Banks, with respect to all of the foregoing under clauses (i) through (iii), ratably among them in proportion to the respective amounts described in this clause Fourth held by them; and
Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full, to the Borrower or as otherwise required by Law.
Subject to Sections 2.03(c) and 2.15, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit shall be applied to satisfy drawings under such Letters of Credit as they occur.  If any amount 

remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above.
Notwithstanding the foregoing, Obligations arising under Cash Management Agreements and Hedge Agreements shall be excluded from the application described above if the Administrative Agent has not received written notice thereof, together with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as the case may be.  Each Cash Management Bank or Hedge Bank not a party to this Agreement that has given the notice contemplated by the preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of Article IX hereof for itself and its Affiliates as if a “Lender” party hereto.
		
	ARTICLE IX.
	ADMINISTRATIVE AGENT

9.01.    Appointment and Authorization of the Administrative Agent
(a)Each of the Lenders and the L/C issuer hereby irrevocably appoints Bank of America to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof and thereof, together with such actions and powers as are reasonably incidental thereto.  The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the L/C Issuer, and none of the Borrower nor any other Loan Party shall have rights as a third party beneficiary of any of such provisions.  It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.
(b)The Administrative Agent shall also act as the “collateral agent” under the Loan Documents, and each of the Lenders (including in its capacities as a potential Hedge Bank and a potential Cash Management Bank) and the L/C Issuer hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of such Lender and the L/C Issuer for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto.  In this connection, the Administrative Agent, as “collateral agent” and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to Section 9.05 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents, or for exercising any rights and remedies thereunder at the direction of the Administrative Agent), shall be entitled to the benefits of all provisions of this Article IX and Article XI (including Section 11.04(c), as though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent” under the Loan Documents) as if set forth in full herein with respect thereto.  
9.02.    Rights as a Lender .  The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “the Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity.  Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Loan Parties or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders.

9.03.    Exculpatory Provisions .  The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature.  Without limiting the generality of the foregoing, the Administrative Agent:
(c)shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;
(d)shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable Law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and
(e)shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Loan Parties or any of their Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity.
(f)the Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 8.02 and 11.01) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment.  The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice describing such Default is given in writing to the Administrative Agent by the Loan Parties, a Lender or the L/C Issuer.  The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Collateral Documents, (v) the value or the sufficiency of any Collateral, or (vi) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent.
9.04.    Reliance by the Administrative Agent .  The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person.  The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon.  In determining compliance with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the Administrative 

Agent may presume that such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit.  The Administrative Agent may consult with legal counsel (who may be counsel for the Loan Parties), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.
9.05.    Delegation of Duties .  The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub‐agents appointed by the Administrative Agent.  The Administrative Agent and any such sub‐agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties.  The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as the Administrative Agent.    The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and non appealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents.
9.06.    Resignation of the Administrative Agent
(g)The Administrative Agent may at any time give notice of its resignation to the Lenders, the L/C Issuer and the Borrower.  Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States.  If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent may (but shall not be obligated to) on behalf of the Lenders and the L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set forth above.  Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date.
(h)If the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof, the Required Lenders may, to the extent permitted by applicable law, by notice in writing to the Borrower and such Person remove such Person as Administrative Agent and, in consultation with the Borrower, appoint a successor. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days (or such earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date.
(i)With effect from the Resignation Effective Date or the Removal Effective Date (as applicable) (1) the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the L/C Issuer under any of the Loan Documents, the retiring or removed Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (2) except for any indemnity payments or other amounts then owed to the retiring or removed Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and the L/C Issuer directly, until such time, if any, as the Required Lenders appoint a successor Administrative 

Agent as provided for above.  Upon the acceptance of a successor's appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or removed) Administrative Agent (other than as provided in Section 3.01(g) and other than any rights to indemnity payments or other amounts owed to the retiring or removed Administrative Agent as of the Resignation Effective Date or the Removal Effective Date, as applicable), and the retiring or removed Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents  (if not already discharged therefrom as provided above in this Section).  The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor.  After the retiring or removed Administrative Agent's resignation or removal hereunder and under the other Loan Documents, the provisions of this Article and Section 11.04 shall continue in effect for the benefit of such retiring or removed Administrative Agent, its sub agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring or removed Administrative Agent was acting as Administrative Agent.
(j)Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C Issuer and Swing Line Lender.  If Bank of America resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto, including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c).  If Bank of America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c).  Upon the appointment by the Borrower of a successor L/C Issuer or Swing Line Lender hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as applicable, (b) the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (c) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit.
9.07.    Non-Reliance on the Administrative Agent and Other the Lenders .  Each Lender and the L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement.  Each Lender and the L/C Issuer also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.
9.08.    No Other Duties, Etc .  Anything herein to the contrary notwithstanding, no Lender holding a title listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or the L/C Issuer hereunder.
9.09.    The Administrative Agent May File Proofs of Claim .  In case of the pendency of proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the 

Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise
(k)to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the L/C Issuer and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer  and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the L/C Issuer and the Administrative Agent under Sections 2.03(i) and (j), 2.09 and 11.04) allowed in such judicial proceeding; and
(l)to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;
and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders and  the L/C Issuer, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.09 and 11.04.  Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.
9.10.    Collateral Matters
(m)Without limiting the provisions of Section 9.09, each Lender hereby irrevocably authorizes and directs the Administrative Agent, as “collateral agent” pursuant to Section 9.01(b) or otherwise, to enter into the Collateral Documents for the benefit of such Lender.  Each Lender hereby agrees, and each holder of any Note by the acceptance thereof will be deemed to agree, that, except as otherwise set forth in Section 11.01, any action taken by the Required Lenders, in accordance with the provisions of this Agreement or the Collateral Documents, and the exercise by the Required Lenders of the powers set forth herein or therein, together with such other powers as are reasonably incidental thereto, shall be authorized and binding upon all of the Lenders.  The Administrative Agent is hereby authorized (but not obligated) on behalf of all of the Lenders, without the necessity of any notice to or further consent from any Lender from time to time prior to, an Event of Default, to take any action with respect to any Collateral or Collateral Documents which may be necessary to perfect and maintain perfected the Liens upon the Collateral granted pursuant to the Collateral Documents.
(n)Each of the Lenders (including in its capacities as a potential Cash Management Bank and a potential Hedge Bank) and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion,
(i)to release any Lien on any property granted to or held by the Administrative Agent under any Loan Document (i) upon termination of the Aggregate Commitments and payment in full of all Obligations (other than (A) contingent indemnification obligations and (B) obligations and liabilities under Cash Management Agreements and Hedge Agreements as to which arrangements 

satisfactory to the applicable Cash Management Bank or Hedge Bank shall have been made) and the expiration or termination of all Letters of Credit (other than Letters of Credit as to which other arrangements satisfactory to the Administrative Agent and the L/C Issuer shall have been made), (ii) that is sold or otherwise disposed of  or to be sold or otherwise disposed of  as part of or in connection with any sale or other disposition permitted hereunder or under any other Loan Document, or (iii) subject to Section 11.01, if approved, authorized or ratified in writing in accordance with Section 11.01;
(ii)to subordinate any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any Lien on such property that is permitted by this Agreement or any other Loan Document.
Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent's authority to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under the Guaranty pursuant to this Section 9.10.
(o)The Administrative Agent shall have no obligation whatsoever to any Lender, the L/C Issuer or any other Person to assure that the Collateral exists or is owned by any Loan Party or is cared for, protected or insured or that the Liens granted to the Administrative Agent herein or in any of the Collateral Documents or pursuant hereto or thereto have been properly or sufficiently or lawfully created, perfected, protected or enforced or are entitled to any particular priority, or to exercise or to continue exercising at all or in any manner or under any duty of care, disclosure or fidelity any of the rights, authorities and powers granted or available to the Administrative Agent in this Section 9.10 or in any of the Collateral Documents, it being understood and agreed that in respect of the Collateral, or any act, omission or event related thereto, the Administrative Agent may act in any manner it may deem appropriate, in its sole discretion, given the Administrative Agent's own interest in the Collateral as one of the Lenders and that the Administrative Agent shall have no duty or liability whatsoever to the Lenders or the L/C Issuer.  the Administrative Agent shall not be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral.
9.11.    Cash Management Agreements and Hedge Agreements .  No Cash Management Bank or Hedge Bank that obtains the benefits of Section 8.03, any Guaranty or any Collateral by virtue of the provisions hereof or of any Guaranty or any Collateral Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents.  Notwithstanding any other provision of this Article IX to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Obligations arising under Cash Management Agreements and Hedge Agreements unless the Administrative Agent has received written notice of such Obligations, together with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as the case may be.
		
	ARTICLE X.
	  CONTINUING GUARANTY

10.01.    Guaranty .  Each of the Guarantors hereby jointly and severally, absolutely and unconditionally guarantees, as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all of the Obligations, whether for principal, interest, premiums, fees, indemnities, damages, costs, expenses or otherwise, of the Borrower to the Secured Parties, and whether arising hereunder or under any other Loan Document, any 

Secured Cash Management Agreement or any Secured Hedge Agreement (including all renewals, extensions, amendments, refinancings and other modifications thereof and all costs, attorneys' fees and expenses incurred by the Secured Parties in connection with the collection or enforcement thereof); provided, however, that notwithstanding anything to the contrary contained in any Loan Document, for Obligations arising under any Hedge Agreement (such Obligations, the “Hedge Obligations”), such Hedge Obligations shall be guaranteed hereunder by only those Guarantors that are ECP Guarantors at the time the Hedge Agreement giving rise to such Hedge Obligation was or hereafter is entered into, except to the extent (if any) that such Guarantor's status as a Non-ECP Guarantor at such time would not legally prohibit it from making such guarantee under the Commodity Exchange Act and other applicable law; provided, further, that if at any time any Non-ECP Guarantor becomes an ECP Guarantor, the guarantee made by such Guarantor hereunder shall be deemed to be automatically amended (without any further action required by any Person) to include liability for all Obligations constituting Hedge Obligations existing at such time.  The Administrative Agent's books and records showing the amount of the Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each of the Guarantors, and conclusive for the purpose of establishing the amount of the Obligations.  This Guaranty shall not be affected by the genuineness, validity, regularity or enforceability of the Obligations or any instrument or agreement evidencing any Obligations, or by the existence, validity, enforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Obligations which might otherwise constitute a defense to the obligations of each of the Guarantors under this Guaranty, and each of the Guarantors hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any or all of the foregoing.  Anything contained herein to the contrary notwithstanding, the obligations of each Guarantor hereunder at any time shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance as a fraudulent transfer or conveyance under Section 548 of the Bankruptcy Code (Title 11, United States Code) or any comparable provisions of any similar federal, provincial, territorial or state law.
10.02.    Rights of Lenders.  Each of the Guarantors consents and agrees that the Secured Parties may, at any time and from time to time, without notice or demand, and without affecting the enforceability or continuing effectiveness hereof:  (a) amend, extend, renew, compromise, discharge, accelerate or otherwise change the time for payment or the terms of the Obligations or any part thereof; (b) take, hold, exchange, enforce, waive, release, fail to perfect, sell, or otherwise dispose of any security for the payment of this Guaranty or any Obligations; (c) apply such security and direct the order or manner of sale thereof as the Administrative Agent, the L/C Issuer and the Lenders in their sole discretion may determine; and (d) release or substitute one or more of any endorsers or other guarantors of any of the Obligations.  Without limiting the generality of the foregoing, each of the Guarantors consents to the taking of, or failure to take, any action which might in any manner or to any extent vary the risks of such Guarantor under this Guaranty or which, but for this provision, might operate as a discharge of such Guarantor.
10.03.    Certain Waivers .  Each of the Guarantors waives (a) any defense arising by reason of any disability or other defense of the Borrower or any other guarantor, or the cessation from any cause whatsoever (including any act or omission of any Secured Party) of the liability of the Borrower; (b) any defense based on any claim that such Guarantor's obligations exceed or are more burdensome than those of the Borrower; (c) the benefit of any statute of limitations affecting such Guarantor's liability hereunder; (d) any right to proceed against the Borrower, proceed against or exhaust any security for the Obligations, or pursue any other remedy in the power of any Secured Party whatsoever; (e) any benefit of and any right to participate in any security now or hereafter held by any Secured Party; and (f) to the fullest extent permitted by law, any and all other defenses or benefits that may be derived from or afforded by 

applicable law limiting the liability of or exonerating guarantors or sureties.  Each of the Guarantors expressly waives all setoffs and counterclaims and all presentments, demands for payment or performance, notices of nonpayment or nonperformance, protests, notices of protest, notices of dishonor and all other notices or demands of any kind or nature whatsoever with respect to the Obligations, and all notices of acceptance of this Guaranty or of the existence, creation or incurrence of new or additional Obligations.  As provided below, this Guaranty shall be governed by, and construed in accordance with, the laws of the State of New York.
10.04.    Obligations Independent .  The obligations of each of the Guarantors hereunder are those of primary obligor, and not merely as surety, and are independent of the Obligations and the obligations of any other guarantor, and a separate action may be brought against such Guarantor to enforce this Guaranty whether or not the Borrower or any other person or entity is joined as a party.
10.05.    Subrogation .  None of the Guarantors shall exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this Guaranty until all of the Obligations and any amounts payable under this Guaranty have been indefeasibly paid and performed in full and the Commitments are terminated.  If any amounts are paid to any Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Parties and shall forthwith be paid to the Secured Parties to reduce the amount of the Obligations, whether matured or unmatured.
10.06.    Termination; Reinstatement .  This Guaranty is a continuing and irrevocable guaranty of all Obligations now or hereafter existing and shall remain in full force and effect until all Obligations and any other amounts payable under this Guaranty are indefeasibly paid in full in cash and the Commitments with respect to the Obligations are terminated.  Notwithstanding the foregoing, this Guaranty shall continue in full force and effect or be revived, as the case may be, if any payment by or on behalf of the Borrower or any Guarantors is made, or any of the Secured Parties exercises its right of setoff, in respect of the Obligations and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by any of the Secured Parties in their discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or otherwise, all as if such payment had not been made or such setoff had not occurred and whether or not the Secured Parties are in possession of or have released this Guaranty and regardless of any prior revocation, rescission, termination or reduction.  The obligations of each of the Guarantors under this paragraph shall survive termination of this Guaranty.
10.07.    Subordination .  Each of the Guarantors hereby subordinates the payment of all obligations and indebtedness of the Borrower owing to such Guarantor, whether now existing or hereafter arising, including but not limited to any obligation of the Borrower to such Guarantor as subrogee of the Secured Parties or resulting from such Guarantor's performance under this Guaranty, to the indefeasible payment in full in cash of all Obligations.  If the Secured Parties so request, any such obligation or indebtedness of the Borrower to any of the Guarantors shall be enforced and performance received by such Guarantor as trustee for the Secured Parties and the proceeds thereof shall be paid over to the Secured Parties on account of the Obligations, but without reducing or affecting in any manner the liability of such Guarantor under this Guaranty.
10.08.    Stay of Acceleration .  If acceleration of the time for payment of any of the Obligations is stayed, in connection with any case commenced by or against any of the Guarantors or the Borrower under any Debtor Relief Laws, or otherwise, all such amounts shall nonetheless be payable by the Guarantors immediately upon demand by the Secured Parties.

10.09.    Condition of Borrower .  Each of the Guarantors acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from the Borrower and any other guarantor such information concerning the financial condition, business and operations of the Borrower and any such other guarantor as such Guarantor requires, and that none of the Secured Parties has any duty, and such Guarantor is not relying on the Secured Parties at any time, to disclose to such Guarantor any information relating to the business, operations or financial condition of the Borrower or any other guarantor (such Guarantor waiving any duty on the part of the Secured Parties to disclose such information and any defense relating to the failure to provide the same).
10.10.    Joint and Several Liability of the Loan Parties.
(a)Each of the Loan Parties is accepting joint and several liability for the Obligations of all of the Loan Parties hereunder and under the other Loan Documents in consideration of the financial accommodations to be provided by the Administrative Agent and the Lenders under this Agreement, for the mutual benefit, directly and indirectly, of each of the Loan Parties and in consideration of the undertakings of each other Loan Party to accept joint and several liability for the Obligations.
(b)Each of the Loan Parties, jointly and severally, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Loan Parties with respect to the payment and performance of all of the Obligations of the Loan Parties (including, without limitation, any Obligations arising under this Section 10.10), it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each of the Loan Parties without preferences or distinction among them.
(c)If and to the extent that any of the Loan Parties shall fail to make any payment with respect to any of the Obligations as and when due or to perform any of the Obligations in accordance with the terms thereof, then in each such event the Loan Parties will make such payment with respect to, or perform, such Obligation.
(d)The Obligations of each of the Loan Parties under the provisions of this Section 10.10 constitute full recourse obligations of each of the Loan Parties enforceable against each such Loan Party to the full extent of its properties and assets.
(e)Except as otherwise expressly provided in this Agreement, each of the Loan Parties, to the fullest extent permitted by applicable law, hereby waives notice of acceptance of its joint and several liability, notice of any Loans or other extensions of credit made under this Agreement, notice of any action at any time taken or omitted by the Administrative Agent or the Lenders under or in respect of any of the Obligations, and, generally, to the extent permitted by applicable law, all demands, notices (other than those required pursuant to the terms of this Agreement or the Loan Documents) and other formalities of every kind in connection with this Agreement.  Each of the Loan Parties, to the fullest extent permitted by applicable law, hereby waives all defenses which may be available by virtue of any valuation, stay, moratorium law or other similar law now or hereafter in effect, any right to require the marshaling of assets of the Loan Parties and any other entity or Person primarily or secondarily liable with respect to any of the Obligations and all suretyship defenses generally.  Each of the Loan Parties, to the fullest extent permitted by applicable law, hereby assents to, and waives notice of, any extension or postponement of the time for the payment of any of the Obligations, the acceptance of any payment of any of the Obligations, the acceptance of any partial payment thereon, any waiver, consent or other action or acquiescence by the Lenders at any time or times in respect of any default by any of the Loan Parties in the performance or satisfaction of any term, covenant, condition or provision of this Agreement, any and all other indulgences whatsoever by the Lenders in respect of any of the Obligations, and the taking, addition, substitution or release, in whole or in part, at any time or 

times, of any security for any of the Obligations or the addition, substitution or release, in whole or in part, of any of the Loan Parties.  Without limiting the generality of the foregoing, each of the Loan Parties assents to any other action or delay in acting or failure to act on the part of the Lenders with respect to the failure by any of the Loan Parties to comply with any of its respective Obligations including, without limitation, any failure strictly or diligently to assert any right or to pursue any remedy or to comply fully with applicable laws or regulations thereunder, which might, but for the provisions of this Section 10.10, afford grounds for terminating, discharging or relieving any Loan Party, in whole or in part, from any of its Obligations under this Section 10.10, it being the intention of each of the Loan Parties that, so long as any of the Obligations hereunder remain unsatisfied, the Obligations of the Loan Parties under this Section 10.10 shall not be discharged except by performance and then only to the extent of such performance.  The Obligations of each of the Loan Parties under this Section 10.10 shall not be diminished or rendered unenforceable by any winding up, reorganization, arrangement, liquidation, re-construction or similar proceeding with respect to any of the Loan Parties, the Administrative Agent or the Lenders.  The joint and several liability of the Loan Parties hereunder shall continue in full force and effect notwithstanding any absorption, merger, amalgamation or any other change whatsoever in the name, membership, constitution or place of formation of any of the Loan Parties, the Administrative Agent or the Lenders.
(f)To the extent any Loan Party makes a payment hereunder in excess of the aggregate amount of the benefit received by such Loan Party in respect of the extensions of credit under this Agreement (the “Benefit Amount”), then such Loan Party, after the payment in full, in cash, of all of the Obligations, shall be entitled to recover from each other Loan Party such excess payment, pro rata, in accordance with the ratio of the Benefit Amount received by each such other Loan Party to the total Benefit Amount received by all the Loan Parties, and the right to such recovery shall be deemed to be an asset and property of such Loan Party so funding; provided, that each of the Loan Parties hereby agrees that it will not enforce any of its rights of contribution or subrogation against the other Loan Parties with respect to any liability incurred by it hereunder or under any of the other Loan Documents, any payments made by it to any of the Lenders or the Administrative Agent with respect to any of the Obligations or any collateral security therefor until such time as all of the Obligations have been irrevocably paid in full in cash.  Any claim which any Loan Party may have against any other Loan Party with respect to any payments to the Lenders or the Administrative Agent hereunder or under any other Loan Document are hereby expressly made subordinate and junior in right of payment, without limitation as to any increases in the Obligations arising hereunder or thereunder, to the prior payment in full of the Obligations and, in the event of any insolvency, bankruptcy, receivership, liquidation, reorganization or other similar proceeding under the laws of any jurisdiction relating to any Loan Party, its debts or its assets, whether voluntary or involuntary, all such Obligations shall be paid in full before any payment or distribution of any character, whether in cash, securities or other property, shall be made to any other Loan Party therefor.
(g)Each of the Loan Parties hereby agrees that the payment of any amounts due with respect to the indebtedness owing by any Loan Party to any other Loan Party is hereby subordinated to the prior payment in full in cash of the Obligations.  Each Loan Party hereby agrees that after the occurrences and during the continuance of any Default or Event of Default, such Loan Party will not demand, sue for or otherwise attempt to collect any indebtedness of any other Loan Party owing to such Loan Party until the Obligations shall have been paid in full in cash.  If, notwithstanding the foregoing sentence, such Loan Party shall collect, enforce or receive any amounts in respect of such indebtedness before payment in full in cash of the Obligations, such amounts shall be collected, enforced, received by such Loan Party as trustee for the Administrative Agent and be paid over to the Administrative Agent for the pro rata accounts of the Lenders (in accordance with each such Lender's Applicable Percentage) to be applied to repay (or be held as security for the repayment of) the Obligations.

(h)The provisions of this Section 10.10 are made for the benefit of the Administrative Agent and the Lenders and their successors and assigns, and may be enforced in good faith by them from time to time against any or all of the Loan Parties as often as the occasion therefor may arise and without requirement on the part of the Administrative Agent or the Lenders first to marshal any of their claims or to exercise any of their rights against any other Loan Party or to exhaust any remedies available to them against any other Loan Party or to resort to any other source or means of obtaining payment of any of the Obligations hereunder or to elect any other remedy.  The provisions of this Section 10.10 shall remain in effect until all of the Obligations shall have been paid in full or otherwise fully satisfied.  If at any time, any payment, or any part thereof, made in respect of any of the Obligations, is rescinded or must otherwise be restored or returned by the Administrative Agent or the Lenders upon the insolvency, bankruptcy or reorganization of any of the Loan Parties or is repaid in good faith settlement of a pending or threatened avoidance claim, or otherwise, the provisions of this Section 10.10 will forthwith be reinstated in effect, as though such payment had not been made.
(i)Each of the Loan Parties hereby appoints the Borrower, and the Borrower hereby agrees, to act as its representative and authorized signer with respect to any notices, demands, communications or requests under this Agreement or the other Loan Documents, including, without limitation, with respect to Loan Notices, L/C Applications and Compliance Certificates and pursuant to Section 10.02 of this Agreement.  Notice to the Borrower shall be deemed notice to the Loan Parties.
(j)It is the intention and agreement of the Loan Parties and the Lenders that the obligations of the Loan Parties under this Agreement shall be valid and enforceable against each Loan Party to the maximum extent permitted by applicable law.  Accordingly, if any provision of this Agreement creating any obligation of the Loan Parties in favor of the Administrative Agent and the Lenders shall be declared to be invalid or unenforceable in any respect or to any extent, it is the stated intention and agreement of the Loan Parties, the Administrative Agent and the Lenders that any balance of the obligation created by such provision and all other obligations of the Loan Parties to the Administrative Agent and the Lenders created by other provisions of this Agreement shall remain valid and enforceable.  Likewise, if by final order a court of competent jurisdiction shall declare any sums which the Administrative Agent and the Lenders may be otherwise entitled to collect from the Loan Parties under this Agreement to be in excess of those permitted under any law (including any federal or state fraudulent conveyance or like statute or rule of law) applicable to the Loan Parties' obligations under this Agreement, it is the stated intention and agreement of the Loan Parties and the Administrative Agent and the Lenders that all sums not in excess of those permitted under such applicable law shall remain fully collectible by the Administrative Agent and the Lenders from the Loan Parties.
10.11.    Designation of the Borrower as the Agent for the Loan Parties  .  For purposes of this Agreement, the Loan Parties hereby designate the Borrower as the agent and representative of each Loan Party for all purposes hereunder and the Borrower hereby accepts each such appointment.  The Administrative Agent and each Lender may regard any notice or other communication pursuant to any Loan Document from the Borrower as a notice or communication from all the Loan Parties, and may give any notice or communication required or permitted to be given to any Loan Party or the Loan Parties hereunder to the Borrower on behalf of such Loan Party or the Loan Parties.  Each Loan Party agrees that each notice, election, representation and warranty, covenant, agreement and undertaking made on its behalf by the Borrower shall be deemed for all purposes to have been made by such Loan Party and shall be binding upon and enforceable against such Loan Party to the same extent as if the same had been made directly by such Loan Party.
		
	ARTICLE XI.
	MISCELLANEOUS

11.01.    Amendments, Etc .  No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by any Loan Party therefrom, shall be effective unless in writing signed by the Required Lenders and the Loan Parties and acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given except that no such amendment, waiver or consent shall:
(a)waive any condition set forth in Section 4.01(a) without the written consent of each Lender except that, in the sole discretion of the Administrative Agent, only a waiver by the Administrative Agent shall be required with respect to immaterial matters or items specified in Section 4.01(a)(iii) or (iv) and other items noted in the post-closing letter made available to the Lenders with respect to which the Loan Parties have given assurances satisfactory to the Administrative Agent that such items shall be delivered promptly following the Closing Date;
(b)extend or increase the Revolving Commitment of any Lender (or reinstate any Revolving Commitment terminated pursuant to Section 8.02) without the written consent of such Lender;
(c)postpone any date fixed by this Agreement or any other Loan Document for any payment (excluding mandatory prepayments, if any) of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under any other Loan Document without the written consent of each Lender directly affected thereby (it being understood that any vote to rescind acceleration of amounts owing with respect to the Loans and other Obligations under the Loan Documents shall only require the approval of the Required Lenders);
(d)reduce the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause (iv) of the second proviso to this Section 11.01) any fees or other amounts payable hereunder or under any other Loan Document, without the written consent of each Lender directly affected thereby except that only the consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation of the Loan Parties to pay interest or L/C Fees at the Default Rate or (ii) to amend any financial covenant hereunder (or any defined term used therein) even if the effect of such amendment would be to reduce the rate of interest on any Loan or L/C Borrowing or to reduce any fee;
(e)change Section 8.03 in a manner that would alter the pro rata sharing of payments required thereby without the written consent of each Lender; 
(f)(x) change any provision of this Section 11.01 or the definition of “Required Lenders” without the written consent of each Lender, or (y) to the extent applicable hereunder with respect to a particular facility or tranche, increase or decrease the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender permitted to vote on such amendment, waiver, modification, determination or consent (i.e. each Lender participating in the applicable revolving credit or term loan facility or tranche); or
(g)except as provided herein, release (A) the Liens on all or substantially all of the Collateral in any transaction or series of related transactions except in accordance with the terms of any Loan Document without the written consent of each Lender (excluding, if any Loan Party becomes a debtor under any Debtor Relief Law, the release of “cash collateral”, as defined in Section 363(a) of the federal Bankruptcy Code pursuant to a cash collateral stipulation with the debtor approved by the Required Lenders) or (B) all or substantially all of the value of the Guarantees of the Obligations made by the Guarantors;

and, provided, that (i) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to the Lenders required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender in addition to the Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document; and (iv) the Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto.  Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Revolving Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender, and (y) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender disproportionately adversely relative to other affected Lenders shall require the consent of such Defaulting Lender.
Notwithstanding any provision in this Section 11.01 to the contrary but subject to Section 2.14 (including those matters that may be addressed in a Conforming Amendment without the requirement for additional consents pursuant to Section 2.14), this Agreement may be amended with the written consent of the Required Lenders, the Administrative Agent and the Loan Parties (i) to add one or more additional revolving credit or term loan facilities to this Agreement and to permit the extensions of credit and all related obligations and liabilities arising in connection therewith from time to time outstanding to share ratably (or on a basis subordinated to the existing facilities hereunder) in the benefits of this Agreement and the other Loan Documents with the obligations and liabilities from time to time outstanding in respect of the existing facilities hereunder, and (ii) in connection with the foregoing, to permit, as deemed appropriate by the Administrative Agent and approved by the Required Lenders, the Lenders providing such additional credit facilities to participate in any required vote or action required to be approved by the Required Lenders or by any other number, percentage or class of Lenders hereunder.
If any Lender does not consent to a proposed amendment, waiver, consent or release with respect to any Loan Document that requires the consent of each Lender, or requires the consent of each Lender directly affected by such proposed amendment, waiver, consent or release, and such amendment, waiver, consent or release has been approved by the Required Lenders or, as applicable, by more than fifty percent (50%) of the Lenders who would be directly affected by such amendment, waiver, consent or release, the Loan Parties may (x) in the case of a non-consenting Revolving Lender, reduce such non-consenting Revolving Lender's Revolving Commitment on a non-pro-rata basis and repay a proportional amount of the Committed Loans advanced by such non-consenting Revolving Lender on a non-pro rata basis, (y) in the case of a non-consenting term loan Lender, repay such non-consenting term loan Lender's term Loans on a non-pro-rata basis, or (z) replace such non-consenting Lender in accordance with Section 11.13; provided, that such amendment, waiver, consent or release can be effected as a result of the assignment contemplated by such Section and/or by such repayment (together with all other such repayments effected by, or assignments required by, the Loan Parties to be made pursuant to this paragraph), and provided, further, that after giving effect to any such repayment of Committed Loans (and corresponding reductions in the Aggregate Commitments), the Loan Parties have at least $10,000,000 in unused Aggregate Commitments.
11.02.    Notices; Effectiveness; Electronic Communications
 .

(h)Notices Generally.  Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows:
(i)if to the Loan Parties, the Administrative Agent, the L/C Issuer or the Swing Line Lender, to the address, facsimile number, electronic mail address or telephone number specified for such Person on Schedule 11.02; and
(ii)if to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in effect for the delivery of notices that may contain material non-public information relating to the Loan Parties), as may be updated pursuant to Section 11.02(d).
Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient), with confirmation of transmission by the transmitting equipment.  Notices delivered through electronic communications to the extent provided in subsection (b) below, shall be effective as provided in such subsection (b).
(i)Electronic Communications.  Notices and other communications to the Lenders and the L/C Issuer hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to Article II if such Lender or the L/C Issuer, as applicable has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication.  The Administrative Agent, the Swing Line Lender, the L/C Issuer or the Borrower may each, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications.  Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender's receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii), if such notice, email or other communication is not sent during the normal business hours of the recipient, such notice, email or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient.
(j)The Platform.  THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.”  THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER'S MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER'S MATERIALS.  NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER 

CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER'S MATERIALS OR THE PLATFORM.  In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Loan Parties, any Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower's, any Loan Party's or the Administrative Agent's transmission of Borrower's Materials through the Internet.
(k)Change of Address, Etc.  Each of the Loan Parties, the Administrative Agent, the L/C Issuer and the Swing Line Lender may change its address, facsimile or telephone number for notices and other communications hereunder by notice to the other parties hereto.  Each other Lender may change its address, facsimile or telephone number for notices and other communications hereunder by notice to the Loan Parties, the Administrative Agent, the L/C Issuer and the Swing Line Lender.  In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, facsimile number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender.  Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender's compliance procedures and applicable Law, including United States Federal and state securities Laws, to make reference to Borrower's Materials that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public information with respect to the Loan Parties or their securities for purposes of United States Federal or state securities laws.
(l)Reliance by the Administrative Agent. L/C Issuer and the Lenders.  The Administrative Agent, the L/C Issuer and the Lenders shall be entitled to rely and act upon any notices (including telephonic or electronic Committed Loan Notices, Letter of Credit Applications and Swing Line Loan Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof.  The Borrower shall indemnify the Administrative Agent, the L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower.  All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording.
11.03.    No Waiver; Cumulative Remedies; Enforcement .  No failure by any Lender, the L/C Issuer or the Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or under any other Loan Document preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.  The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.
Notwithstanding anything to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders and the L/C Issuer; provided, however, that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and 

remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (b) the L/C Issuer or the Swing Line Lender from exercising the rights and remedies that inure to its benefit (solely in its capacity as L/C Issuer or the Swing Line Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in accordance with Section 11.08 (subject to the terms of Section 2.13), or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.13, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders.
11.04.    Expenses; Indemnity; Damage Waiver
(m)Costs and Expenses.  The Loan Parties shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees, charges and disbursements of counsel for the Administrative Agent), in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the L/C Issuer 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, any Lender or the L/C Issuer (including the reasonable fees, charges and disbursements of any counsel for the Administrative Agent, any Lender or the L/C Issuer), any Lender or the L/C Issuer, in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit.
(n)Indemnification by the Loan Parties.  The Loan Parties shall indemnify the Administrative Agent (and any sub-agent thereof), each Lender and the L/C Issuer, 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 expenses (including the reasonable fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or any other Loan Party) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the L/C Issuer 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 Loan Parties or any of their Subsidiaries, or any Environmental Liability related in any way to the Loan Parties or any of their Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other 

theory, whether brought by a third party or by any Loan Party, and regardless of whether any Indemnitee is a party thereto, in all cases, whether or not caused by or arising, in whole or in part, out of the comparative, contributory or sole negligence of the Indemnitee; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by the any Loan Party against an Indemnitee for breach in bad faith of such Indemnitee's obligations hereunder or under any other Loan Document, if such Loan Party has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction.  Without limiting the provisions of Section 3.01(c), this Section 11.04(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.
(o)Reimbursement by the Lenders.  To the extent that the Loan Parties for any reason fail to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), the L/C Issuer, the Swing Line Lender or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), the L/C Issuer, the Swing Line Lender or such Related Party, as the case may be, such Lender's pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender's share of the Total Credit Exposure at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender), such payment to be made severally among them based on such Lenders' Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought), provided, further that, the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), the L/C Issuer or the Swing Line Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), the L/C Issuer or the Swing Line Lender in connection with such capacity.  The obligations of the Lenders under this subsection (c) are subject to the provisions of Section 2.12(d).
(p)Waiver of Consequential Damages, Etc.  To the fullest extent permitted by applicable law, each of the Loan Parties shall not assert, and hereby waives, and acknowledges that no other Person shall have, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof.  No Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting from the gross negligence or willful misconduct of such Indemnitee as determined by a final and nonappealable judgment of a court of competent jurisdiction.  
(q)Payments.  All amounts due under this Section shall be payable not later than ten Business Days after demand therefor.
(r)Survival.  The agreements in this Section and the indemnity provisions of Section 11.02(e) shall survive the resignation of the Administrative Agent, the L/C Issuer or the Swing Line Lender, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations.

11.05.    Payments Set Aside .  To the extent that any payment by or on behalf of the Loan Parties is made to the Administrative Agent, the L/C Issuer or any Lender, or the Administrative Agent, the L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and the L/C Issuer severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate from time to time in effect.  The obligations of the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of the Obligations and the termination of this Agreement.
11.06.    Successors and Assigns
(s)Successors and Assigns Generally.  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, except that no Loan Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent, the L/C Issuer and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of subsection (b) of this Section, (ii) by way of participation in accordance with the provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void).  Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the L/C Issuer and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.  
(t)Assignments by the Lenders.  Any Lender may at any time assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Revolving Commitment and the Loans (including for purposes of this subsection (b), participations in L/C Obligations and in Swing Line Loans) at the time owing to it); provided that any such assignment shall be subject to the following conditions:
(i)Minimum Amounts.  
(A)In the case of an assignment of the entire remaining amount of the assigning Lender's Revolving Commitment and/or the Loans at the time owing to it or contemporaneous assignments to related Approved Funds that equal at least the amount specified in paragraph (b)(i)(B) of this Section in the aggregate or in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 
(B)In any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the Revolving Commitment (which for this purpose includes Loans outstanding thereunder) and/or the Outstanding Amount of the Loans of the assigning Lender subject to each such assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered 

to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $5,000,000 unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Loan Parties otherwise consent (each such consent not to be unreasonably withheld or delayed).
(ii)Proportionate Amounts.  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 with respect to the Loans or the Revolving Commitment assigned, except that this clause (ii) shall not (A) apply to the Swing Line Lender's rights and obligations in respect of Swing Line Loans or (B) prohibit any Lender from assigning all or a portion of its rights and obligations among the Aggregate Commitments, the Term A Loan and any separate revolving credit or term loan facilities provided pursuant to the last paragraph of Section 11.01 on a non-pro rata basis; 
(iii)Required Consents.  No consent shall be required for any assignment except to the extent required by clause (b)(i)(B) of this Section and, in addition: 
(A)The consent of the Borrower (not to be unreasonably withheld or delayed) shall be required unless (x) an Event of Default has occurred and is continuing at the time of such assignment or (y) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof;
(B)The consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required if such assignment is to a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender; and
(C)The consent of the L/C Issuer and the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required for any assignment in respect of the Aggregate Commitments.
(iv)Assignment and Assumption.  The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount, if any, required as set forth in Schedule 11.06; provided, however, that, the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment.  The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.  
(v)No Assignment to Certain Persons.  No such assignment shall be made (A) to the Loan Parties or any of their respective Affiliates or Subsidiaries, or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B), or (C) to a natural Person.  
(vi)Certain Additional Payments.  In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans previously 

requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the L/C Issuer or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and participations in Letters of Credit and Swing Line Loans in accordance with its Applicable Percentage.  Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable Law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.
Subject to acceptance and recording thereof by the Administrative Agent pursuant to clause (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05, and 11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender's having been a Defaulting Lender.  Upon request, the Borrower (at their expense) shall execute and deliver a Note to the assignee Lender.  Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (d) of this Section.
(u)Register.  The Administrative Agent, acting solely for this purpose as an agent of the Borrower (and such agency being solely for tax purposes), shall maintain at the Administrative Agent's Office a copy of each Assignment and Assumption delivered to it (or the equivalent thereof in electronic form) and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest) of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”).  The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall 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.  The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice.
(v)Participations.  Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to any Person (other than a natural Person, a Defaulting Lender or the Borrower or any of the Borrower's Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender's rights and/or obligations under this Agreement (including all or a portion of its Revolving Commitment and/or the Loans (including such Lender's participations in L/C Obligations and/or Swing Line Loans) owing to it); provided, that (i) such Lender's obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent, the L/C Issuer and the Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under this Agreement.  For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section 11.04(c) without regard to the existence of any participation.
Any agreement or instrument pursuant to which a Lender sells such a participation shall 

provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 11.01 that affects such Participant.  The Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section (it being understood that the documentation required under Section 3.01(e) shall be delivered to the Lender who sells the participation) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such Participant (A) agrees to be subject to the provisions of Sections 3.06 and 11.13 as if it were an assignee under paragraph (b) of this Section and (B) shall not be entitled to receive any greater payment under Sections 3.01 or 3.04, with respect to any participation, than the Lender from whom it acquired the applicable participation would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation.  Each Lender that sells a participation agrees, at the Borrower's request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 3.06 with respect to any Participant.  To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.08 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.13 as though it were a Lender.
Each Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant's interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant's interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations.  The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary.  For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register
(w)Certain Pledges.  Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.
(x)Resignation as L/C Issuer or the Swing Line Lender after Assignment.  Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its Revolving Commitment and Committed Loans pursuant to Section 11.06(b), Bank of America may, (i) upon thirty (30) days' notice to the Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon thirty (30) days' notice to the Borrower, resign as Swing Line Lender.  In the event of any such resignation as L/C Issuer or Swing Line Lender, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of Bank of America as L/C Issuer or Swing Line Lender, as the case may be.  If Bank of America resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its 

resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)).  If Bank of America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c).  Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (b) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit.
11.07.    Treatment of Certain Information; Confidentiality .  Each of the Administrative Agent, the Lenders and the L/C Issuer agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its Related Parties (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent required or requested by any regulatory authority purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights and obligations under this Agreement or any Acceding Lender under Section 2.14(c) or (ii) any actual or prospective party (or its Related Parties) to any swap, derivative or other transaction under which payments are to be made by reference to the Borrower and its obligations, this Agreement or payments hereunder, (g) on a confidential basis to (i)  any rating agency in connection with rating the Borrower or its Subsidiaries or the credit facilities provided hereunder or (ii) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers or other market identifiers with respect to the credit facilities provided hereunder, (h) with the consent of the Borrower or (i) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available to the Administrative Agent, any Lender, the L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a source other than the Loan Parties.  For purposes of this Section, “Information” means all information received from the Loan Parties or any Subsidiary relating to the Loan Parties, any Subsidiary or any of their respective businesses, other than any such information that is available to the Administrative Agent, any Lender or the L/C Issuer on a nonconfidential basis prior to disclosure by the Loan Parties or any Subsidiary, provided that, in the case of information received from the Loan Parties or any Subsidiary after the date hereof, such information is clearly identified at the time of delivery as confidential (other than Information provided under Sections 6.01, 6.02, 6.03, 7.04 or 7.11 (i.e., such Information provided under such sections does not need to be labeled confidential to be treated 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.
Each of the Administrative Agent, the Lenders and the L/C Issuer acknowledges that (a) the Information may include material non-public information concerning the Loan Parties or any Subsidiary, as 

the case may be, (b) it has developed compliance procedures regarding the use of material non-public information and (c) it will handle such material non-public information in accordance with applicable Law, including Securities Laws and state securities Laws.
Notwithstanding the foregoing, unless specifically prohibited by Applicable Law or court order, each of the Administrative Agent, the Lenders, the L/C Issuer and each of their respective Affiliates shall, prior to disclosure thereof, notify the Loan Parties of any request for disclosure of any such non-public information by any Governmental Authority or representative thereof (other than any such request in connection with an examination of the Administrative Agent, such Lender, the L/C Issuer or such Affiliate by such Governmental Authority) or pursuant to legal process.
The provisions of this Section 11.07 do not apply to any proceedings between the parties to this Agreement.
11.08.    Right of Setoff .  If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the credit or the account of the Borrower or any other Loan Party against any and all of the obligations of the Borrower or such Loan Party now or hereafter existing under this Agreement or any other Loan Document to such Lender or the L/C Issuer or their respective Affiliates, irrespective of whether or not such Lender, L/C Issuer or Affiliate shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrower or such Loan Party may be contingent or unmatured or are owed to a branch, office or Affiliate of such Lender or the L/C Issuer different from the branch, office or Affiliate holding such deposit or obligated on such indebtedness; provided, that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.16 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent, the L/C Issuer and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff.  The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, the L/C Issuer or their respective Affiliates may have.  Each Lender and the L/C Issuer agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application.
11.09.    Interest Rate Limitation .  Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”).  If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower.  In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder.

11.10.    Counterparts; Integration; Effectiveness .  This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  This Agreement, the other Loan Documents, and any separate letter agreements with respect to fees payable to the Administrative Agent or the L/C Issuer, 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 that, when taken together, bear the signatures of each of the other parties hereto.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic imaging means (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement.
11.11.    Survival of Representations and Warranties .  All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof.  Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding.
11.12.    Severability .  If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions.  The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.  Without limiting the foregoing provisions of this Section 11.12, if and to the extent that the enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, the L/C Issuer or the Swing Line Lender, as applicable, then such provisions shall be deemed to be in effect only to the extent not so limited.
11.13.    Replacement of Lenders .  If the Borrower is entitled to replace a Lender pursuant to the provisions of Section 3.06, or if any Lender is a Defaulting Lender or a Non-Consenting Lender, then the Borrower 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, and consents required by, Section 11.06), all of its interests, rights (other than its existing rights to payments pursuant to Sections 3.01 and 3.04) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that:
(y)the Borrower or Assignee Lender shall have paid to the Administrative Agent the assignment fee specified in Section 11.06(b)(iv) unless such assignment fee is waived by the Administrative Agent in its sole discretion pursuant to Section 11.06(b)(iv);
(z)such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to it 

hereunder and under the other Loan Documents (including any amounts under Section 3.05) from the Eligible Assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts);
(aa)in the case of any such assignment resulting from a claim for compensation under Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter;
(ab)such assignment does not conflict with applicable Laws; and
(ac)in the case of an assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable assignee shall have consented to the applicable amendment, waiver or consent
A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply.
11.14.    GOVERNING LAW; JURISDICTION; ETC
(ad)GOVERNING LAW.  THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
(ae)SUBMISSION TO JURISDICTION.  THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE ADMINISTRATIVE AGENT, ANY LENDER, THE L/C ISSUER, OR ANY RELATED PARTY OF THE FOREGOING IN ANY WAY RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS  AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT.  EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.  NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

(af)WAIVER OF VENUE.  THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.
(ag)SERVICE OF PROCESS.  EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02.  NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.
11.15.    Waiver of Right to Trial by Jury .  EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.
11.16.    USA PATRIOT Act Notice .  Each Lender that is subject to the Act (as hereinafter defined) and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Loan Parties that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies the Loan Parties, which information includes the name and address of each of the Loan Parties and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Loan Parties in accordance with the Act.  The Loan Parties shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer” an anti-money laundering rules and regulations, including the Act.
11.17.    No Advisory or Fiduciary Responsibility .  In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower and each other Loan Party acknowledges and agrees, and acknowledges its Affiliates' understanding, that: (i) (A) the arranging and other services regarding this Agreement provided by the Administrative Agent, the Arranger and the Lenders are arm's-length commercial transactions between the Borrower, each other Loan Party and their respective Affiliates, on the one hand, and the Administrative Agent, the Arranger and the Lenders, on the other hand, (B) each of the Borrower and the other Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) the Borrower and each other Loan Party is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) the Administrative Agent, the 

Arranger and each Lender is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower, any other Loan Party or any of their respective Affiliates, or any other Person and (B) neither the Administrative Agent, the Arranger nor any Lender has any obligation to the Borrower, any other Loan Party or any of their respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Administrative Agent, the Arranger and the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower, the other Loan Parties and their respective Affiliates, and neither the Administrative Agent, the Arranger, nor any Lender has any obligation to disclose any of such interests to the Borrower, any other Loan Party or any of their respective Affiliates.  To the fullest extent permitted by law, each of the Borrower and each other Loan Party hereby waives and releases any claims that it may have against the Administrative Agent, the Arranger or any Lender with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.
11.18.    Electronic Execution of Assignments and Certain Other Documents.  The words “execute,” “execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.
11.19.    Mirachem.  Notwithstanding anything to the contrary set forth herein:
(ah)For so long as the Borrower owns less than 100% of the Equity Interests of Mirachem and without limiting the provisions of Article VII hereof, (i) no Loan Party (other than Mirachem) shall Guarantee any Indebtedness or other obligations of Mirachem (or otherwise be liable by contract, operation of law or otherwise, for any liabilities of Mirachem) or otherwise make any Investments in Mirachem other than (x) those Investments outstanding on the Closing Date, (y) Investments by the Loan Parties (other than Mirachem) in Mirachem after the Closing Date in an aggregate amount not to exceed $750,000; provided, that for the purpose of calculating usage under the foregoing basket, the aggregate amount of Investments in Mirachem made by the Loan Parties (other than Mirachem) after the Closing Date may be reduced dollar-for-dollar by the amount of distributions actually received in cash by the Borrower from Mirachem after the Closing Date, and (z) other Investments by the Loan Parties (other than Mirachem) in Mirachem solely in connection with the acquisition by the Loan Parties (other than Mirachem) of 100% of the Equity Interests in Mirachem not then held by the Borrower (resulting in Mirachem becoming a wholly-owned Subsidiary of the Borrower); (ii) Mirachem shall not incur any Indebtedness other than pursuant to the Loan Documents, (iii) Mirachem shall not grant, or suffer to exist, a Lien on any of its assets except in favor of the Administrative Agent, for the benefit of the Secured Parties, or Liens permitted by Sections 7.01(c) - (g), (h) and (j), (iv) the Borrower shall not consummate or consent to the Disposition of any Equity Interests of Mirachem, (v) no Loan Party (other than Mirachem) may Dispose of assets to Mirachem except on market terms in an arms-length transaction, and (vi) all transactions among Mirachem and any other Loan Party shall be arms-length and on market terms.
(ai)Upon the acquisition by the Borrower or any other Loan Party of the remaining Equity Interests of Mirachem, (i) the Borrower or such Loan Party shall promptly pledge such Equity Interests of Mirachem 

to the Administrative Agent, for the benefit of the Secured Parties, and (ii) Mirachem shall promptly pledge all of its assets to the Administrative Agent, for the benefit of the Secured Parties, pursuant to Section 6.15.
11.20.    Existing Credit Agreement and Existing Guaranties Amended and Restated
(aj)Existing Credit Agreement and Existing Guaranties Amended and Restated.  On the Closing Date, this Agreement shall amend and restate the Existing Credit Agreement and the Existing Guaranties in their entirety but, for the avoidance of doubt, shall not constitute a novation of the parties' rights and obligations thereunder.  On the Closing Date, the rights and obligations of the parties hereto evidenced by the Existing Credit Agreement and the Existing Guaranties shall be evidenced by this Agreement and the other Loan Documents, the “Loans” as defined in the Existing Credit Agreement shall remain outstanding and be continued as, and converted to, Loans as defined herein and the Existing Letters of Credit issued by the Lender (as defined in the Existing Credit Agreement) for the account of the Borrower prior to the Closing Date shall remain issued and outstanding and shall be deemed to be Letters of Credit under this Agreement, and shall bear interest and be subject to such other fees as set forth in this Agreement.
(ak)Interest and Fees under Existing Credit Agreement.  All interest and fees and expenses, if any, owing or accruing under or in respect of the Existing Credit Agreement through the Closing Date (including any breakage fees in respect of LIBOR Rate Loans as defined therein) shall be calculated as of the Closing Date (pro-rated in the case of any fractional periods), and shall be paid on the Closing Date.
11.21.    ENTIRE AGREEMENT.  THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

[Remainder of Page Intentionally Left Blank.]
    

(Signature Page to Amended and Restated Credit Agreement)

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above written.
HERITAGE-CRYSTAL CLEAN, LLC, 
as Borrower
By:     /s/       Mark DeVita
Name: Mark Devita
Title:    Chief Financial Officer

HERITAGE-CRYSTAL CLEAN, INC., 
as Guarantor
By:    /s/       Mark DeVita
Name: Mark Devita
Title:    Chief Financial Officer

MIRACHEM, LLC, 
as Guarantor
By:        /s/ Pat Doughty
Name: Pat Doughty
Title:    Manager

BANK OF AMERICA, N.A., 
as Administrative Agent
By:    __________________________
Name:
Title:

BANK OF AMERICA, N.A., as Administrative Agent
By:        /s/ Maria F. Maia
Name:    Maria F. Maia
Title:    Managing Director

BANK OF AMERICA, N.A., as Revolving Lender, Term A Lender, L/C Issuer and Swing Line Lender
By:        /s/ Maria F. Maia
Name:    Maria F. Maia
Title:    Managing Director

WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Revolving Lender and Term A Lender
By:        /s/ Steve Arentsen
Name:    Steve Arentsen
Title:    Senior Vice President

UNION BANK, N.A., as a Revolving Lender and Term A Lender
By:        /s/ Jeffrey Duncan
Name:    Jeffrey Duncan
Title:    Vice President

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