Document:

Exhibit 10.34

[LOGO] salon media group

September 13, 2007

Christopher Neimeth
30 West 74th Street, Apt. 4D
New York, New York 10023

Re:  Employment Agreement - Amendment No. 1

Dear Christopher:

The following paragraph from your employment agreement signed on June 5, 2006
and prior to the 20:1 reverse stock split of Salon Media Group, Inc. (the
Company) that was effective November 15, 2006, is hereby deleted:

          "If the goals to be mutually agreed upon within forty-five days of the
     Start Date are attained, you will be eligible to receive 5,000,000 shares
     of restricted stock during your employment with the Company. The shares of
     restricted stock will vest over a period of four years from the date of
     grant (one fourth for each year after the date of grant). As the Company
     does not now have an equity compensation plan that allows for the granting
     of shares of restricted stock, the Company will solicit approval of such a
     plan by the Company's Board of Directors and stockholders no later than
     December 31, 2007."

The above deleted paragraph is hereby replaced with:

          "As long as you remain an employee of the Company, you will receive a
     restricted stock bonus grant of 250,000 shares of common stock when the
     Company is able to do so. The Company anticipates that it will be able to
     make such a grant by December 31, 2007. The restricted stock bonus will
     vest one fourth after you have served one year as Chief Executive Officer
     and one fourth per year thereafter."

All other provisions of your employment agreement will remain intact.

                                       Sincerely,

                                       Salon Media Group, Inc.

                                       By /s/ Conrad Lowry
                                          ----------------
                                          Conrad Lowry
                                          Chief Financial Officer and Secretary

     I agree to and accept employment with Salon Media Group, Inc. on the terms
and conditions set forth in this Agreement.

     Date:  September 13, 2007         /s/ Christopher Neimeth
                                       -----------------------
                                       Christopher NeimethEX-10.1

AMENDMENT TO INDEMNIFICATION AGREEMENT

THIS AMENDMENT TO INDEMNIFICATION AGREEMENT is entered into September 11, 2007 by and between
Newpark Resources, Inc., a Delaware corporation (the “Company”) and Paul L. Howes (“Indemnitee”) to
be effective as of September 1, 2007 (the “Effective Date”).

WHEREAS, Company and Indemnitee entered into an Indemnification Agreement (the “Agreement”),
dated May 7, 2006; and

WHEREAS, Sections 2 of the Agreement provides that the Company shall obtain personal liability
insurance providing coverage to the Indemnitee for actions taken as a director, officer, employee
or agent of the Company and Section 3 of the Agreement provides that in the event such insurance
policy could not be obtained or if the Company determines in good faith that the insurance policy
was not reasonably available, the Company could, subject to the agreement of the Indemnitee, obtain
and maintain a letter of credit in the amount of $3 million in favor of the Indemnitee; and

WHEREAS, the Company, with the approval of Indemnitee, arranged for a $3 million letter of
credit in accordance with the requirements of the Agreement; and

WHEREAS, Indemnitee and the Company desire to amend the Agreement to remove the obligations
contained Sections 2 and 3 of the Agreement regarding the Company’s responsibility for purchasing
separate personal liability insurance or obtaining a $3 million letter of credit in lieu of such
insurance.

NOW, THEREFORE, premises considered and in consideration of the mutual promises and agreements
contained herein, the parties hereby agree as follows:

	 	1.	 	Sections 2 and 3 of the Agreement are hereby deleted, effective as of the
Effective Date and the Company shall have no further obligations to provide or maintain
the personal liability insurance policy required pursuant to Section 2 of the Agreement
or the letter of credit required pursuant to Section 3 of the Agreement.

	 	2.	 	The remainder of the Agreement remains in full force and effect with no other
changes.

	 	3.	 	This Amendment to Indemnification Agreement may be executed in multiple
counterparts, and all such counterparts, when so executed and delivered, shall
constitute but one and the same agreement.

IN WITNESS WHEREOF, the parties have executed this Amendment to Indemnification Agreement as
of the date set forth above but effective for all purposes as of the Effective Date.

1

NEWPARK RESOURCES, INC.

By: /s/ Mark J. Airola

Mark J. Airola

Vice President, General Counsel and

Chief Administrative Officer

INDEMNITEE:

 /s/ Paul L. Howes

Paul L. Howes

2EX-10.1

EXHIBIT 10.1

Execution Copy

CREDIT AGREEMENT

Dated as of September 14, 2007

by and among

U-STORE-IT, L.P.,

as Borrower,

U-STORE-IT TRUST,

as Parent,

WACHOVIA CAPITAL MARKETS, LLC,

as Lead Arranger,

and

as Book Manager,

WACHOVIA BANK, NATIONAL ASSOCIATION,

as Administrative Agent,

and

THE FINANCIAL INSTITUTIONS INITIALLY SIGNATORY HERETO

AND THEIR ASSIGNEES PURSUANT TO SECTION 11.5.,

as Lenders

1

TABLE OF CONTENTS

	 	 	Article I. Definitions 1	 

	 	 	 	Section 1.1. Definitions. 1	 

	 	 	 	Section 1.2. General; References to Times. 12	 

	 	 	 	Section 1.3. Financial Attributes of Non-Wholly Owned Subsidiaries. 13	 

	 	 	Article II. Credit Facility 13	 

	 	 	 	Section 2.1. Term Loans. 13	 

	 	 	 	Section 2.2. Rates and Payment of Interest on Loans. 14	 

	 	 	 	Section 2.3. Number of Interest Periods. 15	 

	 	 	 	Section 2.4. Repayment of Loans. 15	 

	 	 	 	Section 2.5. Prepayments. 15	 

	 	 	 	Section 2.6. Continuation. 15	 

	 	 	 	Section 2.7. Conversion. 15	 

	 	 	 	Section 2.8. Notes. 16	 

	 	 	 	Section 2.9. Extension of Termination Date. 16	 

	 	 	Article III. Payments, Fees and Other General Provisions 17	 

	 	 	 	Section 3.1. Payments. 17	 

	 	 	 	Section 3.2. Pro Rata Treatment. 17	 

	 	 	 	Section 3.3. Sharing of Payments, Etc. 18	 

	 	 	 	Section 3.4. Several Obligations. 18	 

	 	 	 	Section 3.5. Minimum Amounts. 18	 

	 	 	 	Section 3.6. Fees. 19	 

	 	 	 	Section 3.7. Computations. 19	 

	 	 	 	Section 3.8. Usury. 19	 

	 	 	 	Section 3.9. Agreement Regarding Interest and Charges. 19	 

	 	 	 	Section 3.10. Statements of Account. 20	 

	 	 	 	Section 3.11. Defaulting Lenders. 20	 

	 	 	 	Section 3.12. Taxes. 21	 

	 	 	Article IV. Yield Protection, Etc. 23	 

	 	 	 	Section 4.1. Additional Costs; Capital Adequacy. 23	 

	 	 	 	Section 4.2. Suspension of LIBOR Loans. 24	 

	 	 	 	Section 4.3. Illegality. 24	 

	 	 	 	Section 4.4. Compensation. 24	 

	 	 	 	Section 4.5. Affected Lenders. 25	 

	 	 	 	Section 4.6. Treatment of Affected Loans. 25	 

	 	 	 	Section 4.7. Change of Lending Office. 26	 

	 	 	 	Section 4.8. Assumptions Concerning Funding of LIBOR Loans. 26	 

	 	 	Article V. Conditions Precedent 26	 

	 	 	 	Section 5.1. Initial Conditions Precedent. 26	 

	 	 	 	Section 5.2. Additional Conditions Precedent to Loans. 29	 

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2

	 	 	Article VI. Representations and Warranties 30	 

	 	 	 	Section 6.1. Representations and Warranties. 30	 

	 	 	 	Section 6.2. Survival of Representations and Warranties, Etc. 32	 

	 	 	Article VII. Covenants 33	 

	 	 	 	Section 7.1. Use of Proceeds. 33	 

	 	 	 	Section 7.2. Further Assurances. 33	 

	 	 	 	Section 7.3. New Subsidiaries; Guarantors; Release of Guarantors. 33	 

	 	 	 	Section 7.4. Certain Covenants of Existing Credit Agreement. 34	 

	 	 	 	Section 7.5. Indebtedness. 34	 

	 	 	 	Section 7.6. Liens. 34	 

	 	 	 	Section 7.7. Sale of Bridge Loan Properties. 34	 

	 	 	Article VIII. Information 35	 

	 	 	 	Section 8.1. Compliance Certificate. 35	 

	 	 	 	Section 8.2. Other Information. 35	 

	 	 	Article IX. Default 36	 

	 	 	 	Section 9.1. Events of Default. 36	 

	 	 	 	Section 9.2. Remedies Upon Event of Default. 37	 

	 	 	 	Section 9.3. Allocation of Proceeds. 38	 

	 	 	 	Section 9.4. Performance by Agent. 39	 

	 	 	 	Section 9.5. Rights Cumulative. 39	 

	 	 	Article X. The Agent 39	 

	 	 	 	Section 10.1. Authorization and Action. 39	 

	 	 	 	Section 10.2. Agent’s Reliance, Etc. 40	 

	 	 	 	Section 10.3. Notice of Defaults. 41	 

	 	 	 	Section 10.4. Agent as Lender. 41	 

	 	 	 	Section 10.5. Approvals of Lenders. 41	 

	 	 	 	Section 10.6. Lender Credit Decision, Etc. 42	 

	 	 	 	Section 10.7. Collateral Matters. 42	 

	 	 	 	Section 10.8. Indemnification of Agent. 43	 

	 	 	 	Section 10.9. Successor Agent. 44	 

	 	 	 	Section 10.10. Titled Agents. 44	 

	 	 	Article XI. Miscellaneous 45	 

	 	 	 	Section 11.1. Notices. 45	 

	 	 	 	Section 11.2. Expenses. 46	 

	 	 	 	Section 11.3. Setoff. 47	 

	 	 	 	Section 11.4. Litigation; Jurisdiction; Other Matters; Waivers. 47	 

	 	 	 	Section 11.5. Successors and Assigns. 48	 

	 	 	 	Section 11.6. Amendments. 51	 

	 	 	 	Section 11.7. Nonliability of Agent and Lenders. 52	 

	 	 	 	Section 11.8. Confidentiality. 53	 

	 	 	 	Section 11.9. Indemnification. 54	 

	 	 	 	Section 11.10. Termination; Survival. 56	 

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3

	 	 	 	Section 11.11. Severability of Provisions. 56	 

	 	 	 	Section 11.12. GOVERNING LAW. 56	 

	 	 	 	Section 11.13. Patriot Act. 56	 

	 	 	 	Section 11.14. Counterparts. 57	 

	 	 	 	Section 11.15. Obligations with Respect to Loan Parties. 57	 

	 	 	 	Section 11.16. Limitation of Liability. 57	 

	 	 	 	Section 11.17. Entire Agreement. 57	 

	 	 	 	Section 11.18. Construction. 57	 

	 	 	 	Section 11.19. Existing Credit Agreement Provisions. 58	 

	 	 	 
	SCHEDULE I

SCHEDULE 1.1.(A)

SCHEDULE 1.1.(B)

SCHEDULE 6.1.(b)

	 	Term Commitments

List of Loan Parties

Bridge Loan Properties

Ownership of Property Owners
	EXHIBIT A

EXHIBIT B

EXHIBIT C

EXHIBIT D

EXHIBIT E

EXHIBIT F

EXHIBIT G

EXHIBIT H

	 	Form of Assignment and Acceptance Agreement

Form of Notice of Continuation

Form of Notice of Conversion

Form of Opinion of Counsel

Form of Compliance Certificate

Form of Guaranty

Form of Term Note

Form of Pledge Agreement

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4

THIS CREDIT AGREEMENT (this “Agreement”) dated as of September 14, 2007 by and among
U-STORE-IT, L.P., a limited partnership formed under the laws of the State of Delaware (the
“Borrower”), U-STORE-IT TRUST, a real estate investment trust formed under the laws of the State of
Maryland (the “Parent”), WACHOVIA CAPITAL MARKETS, LLC, as Lead Arranger (the “Lead Arranger”) and
as Book Manager (the “Book Manager”), WACHOVIA BANK, NATIONAL ASSOCIATION, as Agent, and each of
the financial institutions initially a signatory hereto together with their assignees pursuant to
Section 11.5.(b).

WHEREAS, the Borrower has entered into that certain Purchase and Sale Agreement effective as
of August 6, 2007 (including all schedules, exhibits, annexes and amendments thereto and all side
letters and agreements affecting the terms thereof or entered into in connection therewith, the
“Purchase Agreement”) by and between the Borrower and Rising Tide Development, LLC, pursuant to
which the Borrower is to acquire, among other things, the Bridge Loan Properties (as defined below)
(the “Acquisition”);

WHEREAS, the Lenders desire to make term loans to the Borrower in the aggregate principal
amount of $50,000,000, on the terms and conditions contained herein.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged by the parties hereto, the parties hereto agree as follows:

Article I. Definitions

	 	 	Section 1.1. Definitions.	 

In addition to terms defined elsewhere herein, the following terms shall have the following
meanings for the purposes of this Agreement:

“Accession Agreement” means an Accession Agreement substantially in the form of Annex I to the
Guaranty.

“Acquisition” has the meaning given that term in the first “WHEREAS” clause of this Agreement.

“Additional Costs” has the meaning given that term in Section 4.1.(a).

“Adjusted LIBOR” means, with respect to each Interest Period for any LIBOR Loan, the rate
obtained by dividing (a) LIBOR for such Interest Period by (b) a percentage equal to 1 minus the
stated maximum rate (stated as a decimal) of all reserves, if any, required to be maintained with
respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”) as specified
in Regulation D of the Board of Governors of the Federal Reserve System (or against any other
category of liabilities which includes deposits by reference to which the interest rate on LIBOR
Loans is determined or any applicable category of extensions of credit or other assets which
includes loans by an office of any Lender outside of the United States of America to residents of
the United States of America). Any change in such maximum rate shall result in a change in Adjusted
LIBOR on the date on which such change in such maximum rate becomes effective.

5

“Administrative Details Form” means an Administrative Details Reply Form in a form supplied by
the Agent to the Lenders from time to time.

“Affiliate” means any Person (other than the Agent or any Lender): (a) directly or indirectly
controlling, controlled by, or under common control with, the Borrower; (b) directly or indirectly
owning or holding ten percent (10.0%) or more of any Equity Interest in the Borrower; or (c) ten
percent (10.0%) or more of whose voting stock or other Equity Interest is directly or indirectly
owned or held by the Borrower. For purposes of this definition, “control” (including with
correlative meanings, the terms “controlling”, “controlled by” and “under common control with”)
means the possession directly or indirectly of the power to direct or cause the direction of the
management and policies of a Person, whether through the ownership of voting securities or by
contract or otherwise. The Affiliates of a Person shall include any officer or director of such
Person. In no event shall the Agent or any Lender be deemed to be an Affiliate of the Borrower.

“Agent” means Wachovia Bank, National Association, as contractual representative for the
Lenders under the terms of this Agreement, and any of its successors.

“Agreement” has the meaning set forth in the introductory paragraph hereof.

“Agreement Date” means the date as of which this Agreement is dated.

“Applicable Law” means all applicable provisions of constitutions, statutes, laws, rules,
regulations and orders of all governmental bodies and all orders and decrees of all courts,
tribunals and arbitrators.

“Applicable Margin” means:

(a) at any time prior to the Investment Grade Rating Date, the percentage set forth below
corresponding to the ratio of Consolidated Total Indebtedness to Consolidated Adjusted Asset Value
as determined in accordance with Section 10.1 of the Existing Credit Agreement in effect at such
time:

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Consolidated Total Indebtedness to	 	Applicable Margin for	 	Applicable Margin for
	Level	 	Consolidated Adjusted Asset Value	 	LIBOR Loans	 	Base Rate Loans
	  

	 	

	 	

	 	

	1

	 	<= 0.45 to 1.00
	 	 	1.00	%	 	 	0.00	%
	2

	 	> 0.45 to 1.00 and <= 0.55 to 1.00
	 	 	1.15	%	 	 	0.15	%
	3

	 	> 0.55 to 1.00 and <= 0.60 to 1.00
	 	 	1.30	%	 	 	0.30	%
	4

	 	> 0.60 to 1.00
	 	 	1.50	%	 	 	0.50	%

The Applicable Margin shall be determined by the Agent from time to time, based on the ratio
of Consolidated Total Indebtedness to Consolidated Adjusted Asset Value as set forth in the
Compliance Certificate most recently delivered by the Borrower pursuant to Section 8.1. Any
adjustment to the Applicable Margin shall be effective (a) in the case of a Compliance Certificate
delivered in connection with quarterly financial statements of the Parent delivered pursuant to
Section 9.1 of the Existing Credit Agreement as of the date 55 days following the end of the last
day of the applicable fiscal quarter covered by such Compliance Certificate, (b) in the case of a
Compliance Certificate delivered in connection with annual financial statements of the Parent

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6

delivered pursuant to Section 9.2 of the Existing Credit Agreement as of the date 100 days
following the end of the last day of the applicable fiscal year covered by such Compliance
Certificate, and (c) in the case of any other Compliance Certificate, as of the date 5 Business
Days following the Agent’s request for such Compliance Certificate. If the Borrower fails to
deliver a Compliance Certificate pursuant to Section 8.1., the Applicable Margin shall equal the
percentages corresponding to Level 4 until the date of the delivery of the required Compliance
Certificate. As of the Agreement Date, and thereafter until changed as provided above, the
Applicable Margin is determined based on Level 2. The provisions of this definition are subject to
Section 2.2.(c); and

(b) on and at all times after the Investment Grade Rating Date, the percentage per annum
determined, at any time, based on the range into which the Borrower’s Credit Rating then falls, in
accordance with the levels in the table set forth below (each a “Level”). Any change in the
Parent’s Credit Rating which would cause it to move to a different Level in such table shall effect
a change in the Applicable Margin on the Business Day on which such change occurs. During any
period for which the Parent has received a Credit Rating from only one Rating Agency, then the
Applicable Margin shall be determined based on such Credit Rating (so long as such rating is from
S&P or Moody’s). During any period that the Parent has received only two Credit Ratings and such
ratings are not equivalent, the Applicable Margin shall be determined by the higher of such two
Credit Ratings. During any period that the Parent has received more than two Credit Ratings and
such ratings are not all equivalent, the Applicable Margin shall be equal to the average of the
Applicable Margins determined by reference to each such Credit Rating. During any period for which
the Parent does not have a Credit Rating from either of S&P or Moody’s, or during any other period
after the Investment Grade Rating Date not otherwise covered in this clause (b), the Applicable
Margin shall be determined based on Level 4. The provisions of this definition are subject to
Section 2.2.(c).

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Borrower’s Credit Rating	 	 	 	 
	 	 	(S&P/Moody’s or	 	Applicable Margin	 	Applicable Margin
	Level	 	equivalent)	 	for LIBOR Loans	 	for Base Rate Loans
	 1

	 	BBB+/Baa1
	 	 	0.425	%	 	 	0.0	%
	 2

	 	BBB/Baa2
	 	 	0.60	%	 	 	0.0	%
	 3

	 	BBB-/Baa3
	 	 	0.75	%	 	 	0.0	%
	 4

	 	< BBB-/Baa3
	 	 	1.00	%	 	 	0.25	%

“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 Wachovia Capital Markets, LLC, together with its successors and permitted
assigns.

“Assignee” has the meaning given that term in Section 11.5.(b).

“Assignment and Acceptance Agreement” means an Assignment and Acceptance Agreement entered
into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required
by Section 11.5.), and accepted by the Agent, substantially in the form of Exhibit A or any other
form approved by the Agent.

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7

“Base Rate” means the per annum rate of interest equal to the greater of (a) the Prime Rate or
(b) the Federal Funds Rate plus one-half of one percent (0.5%). Any change in the Base Rate
resulting from a change in the Prime Rate or the Federal Funds Rate shall become effective as of
12:01 a.m. on the Business Day on which each such change occurs. The Base Rate is a reference rate
used by the Lender acting as the Agent in determining interest rates on certain loans and is not
intended to be the lowest rate of interest charged by the Lender acting as the Agent or any other
Lender on any extension of credit to any debtor.

“Base Rate Loan” means a Loan bearing interest at a rate based on the Base Rate.

“Borrower” has the meaning set forth in the introductory paragraph hereof and shall include
the Borrower’s successors and permitted assigns.

“Bridge Loan Property” means each of the Properties located at the addresses set forth on
Schedule 1.1.(B) and, after giving effect to the Acquisition, owned by a Property Owner.

“Business Day” means (a) any day other than a Saturday, Sunday or other day on which banks in
Charlotte, North Carolina are authorized or required to close and (b) with reference to a LIBOR
Loan, any such day that is also a day on which dealings in Dollar deposits are carried out in the
London interbank market.

“Collateral” means any real or personal property directly or indirectly securing any of the
Obligations or any other obligation of a Person under or in respect of any Loan Document to which
it is a party, and includes, without limitation, all “Pledged Collateral” under and as defined in
the Pledge Agreement.

“Commitment Percentage” means, as to each Lender, the ratio, expressed as a percentage, of
(a) such Lender’s Term Commitment to (b) the aggregate Term Commitments of all Lenders.

“Compliance Certificate” has the meaning given that term in the Existing Credit Agreement.

“Consolidated Adjusted Asset Value” has the meaning given that term in the Existing Credit
Agreement.

“Consolidated Total Indebtedness” has the meaning given that term in the Existing Credit
Agreement.

“Continue”, “Continuation” and “Continued” each refers to the continuation of a LIBOR Loan
from one Interest Period to another Interest Period pursuant to Section 2.6.

“Convert”, “Conversion” and “Converted” each refers to the conversion of a Loan of one Type
into a Loan of another Type pursuant to Section 2.7.

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8

“Credit Event” means any of the following: (a) the making (or deemed making) of any Loan,
(b) the Continuation of a LIBOR Loan and (c) the Conversion of a Base Rate Loan into a LIBOR Loan.

“Credit Rating” means the rating assigned by a Rating Agency to the senior unsecured long term
Indebtedness of a Person.

“Default” means any of the events specified in Section 9.1., whether or not there has been
satisfied any requirement for the giving of notice, the lapse of time, or both.

“Defaulting Lender” has the meaning given that term in Section 3.11.

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

“Effective Date” means the later of: (a) the Agreement Date; and (b) the date on which all of
the conditions precedent set forth in Section 5.1. shall have been fulfilled or waived in writing
by the Requisite Lenders.

“Eligible Assignee” means (a) a Lender, (b) an affiliate of a Lender, (c) an Approved Fund,
and (d) any other Person (other than a natural person) approved by (i) the Agent and (ii) unless a
Default or Event of Default shall exist, the Borrower (each such approval not to be unreasonably
withheld or delayed); provided that notwithstanding the foregoing, “Eligible Assignee” shall not
include the Borrower or any of the Borrower’s Affiliates or Subsidiaries.

“Environmental Laws” has the meaning given that term in the Existing Credit Agreement.

“Equity Interest” means, with respect to any Person, any share of capital stock of (or other
ownership or profit interests in) such Person, any warrant, option or other right for the purchase
or other acquisition from such Person of any share of capital stock of (or other ownership or
profit interests in) such Person, any security convertible into or exchangeable for any share of
capital stock of (or other ownership or profit interests in) such Person or warrant, right or
option for the purchase or other acquisition from such Person of such shares (or such other
interests), and any other ownership or profit interest in such Person (including, without
limitation, partnership, member or trust interests therein), whether voting or nonvoting, and
whether or not such share, warrant, option, right or other interest is authorized or otherwise
existing on any date of determination.

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

“Event of Default” means any of the events specified in Section 9.1., provided that any
requirement for notice or lapse of time or any other condition has been satisfied.

“Excluded Subsidiary” has the meaning given that term in the Existing Credit Agreement.

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9

“Existing Credit Agreement” means that certain Credit Agreement dated as of November 21, 2006
by and among the Borrower, the Parent, the financial institutions party thereto as “Lenders,
Wachovia Bank, National Association, as Agent, and the other parties thereto.

“Existing Credit Agreement Covenants” means all of the covenants set forth in Articles VIII
(excluding Section 8.12) through X of the Existing Credit Agreement.

“Existing Credit Agreement Default” means any event or condition set forth in Article XI of
the Existing Credit Agreement.

“Existing Credit Agreement Representations” means the representations and warranties set forth
in Article VII of the Existing Credit Agreement.

“Extension Request” has the meaning given that term in Section 2.9.

“Federal Funds Rate” means, for any day, the rate per annum (rounded upward to the nearest
1/100th of 1%) 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, 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 quoted to the Agent by federal funds dealers selected by the Agent on such day on such
transaction as determined by the Agent.

“Fees” means the fees and commissions provided for or referred to in Section 3.6. and any
other fees payable by the Borrower hereunder or under any other Loan Document.

“Foreign Lender” means any Lender that is 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 of America, each State thereof and the District of Columbia shall be deemed to
constitute a single jurisdiction.

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

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

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“Governmental Approvals” means all authorizations, consents, approvals, licenses and
exemptions of, registrations and filings with, and reports to, all Governmental Authorities.

“Governmental Authority” means any national, state or local government (whether domestic or
foreign), any political subdivision thereof or any other governmental, quasi-governmental,
judicial, public or statutory instrumentality, authority, body, agency, bureau, commission, board,
department or other entity (including, without limitation, the Federal Deposit Insurance
Corporation, the Comptroller of the Currency or the Federal Reserve Board, any central bank or any
comparable authority) or any arbitrator with authority to bind a party at law.

“Guarantor” means any Person that is a party to the Guaranty as a “Guarantor” and in any event
shall include the Parent, each Pledgor, each Property Owner and each Person that is a Guarantor (as
defined in the Existing Credit Agreement).

“Guaranty” means the Guaranty to which the Guarantors are parties substantially in the form of
Exhibit F.

“Indebtedness” has the meaning given such term in the Existing Credit Agreement.

“Indemnified Costs” has the meaning given that term in Section 11.9.(a).

“Indemnified Party” has the meaning given that term in Section 11.9.(a).

“Indemnity Proceeding” has the meaning given that term in Section 11.9.(a).

“Interest Period” means with respect to any LIBOR Loan, each period commencing on the date
such LIBOR Loan is made, or in the case of the Continuation of a LIBOR Loan the last day of the
preceding Interest Period for such Loan, and ending 1, 2, 3 or 6 months thereafter, as the Borrower
may select in the initial notice of borrowing pursuant to Section 2.1.(b), Notice of Continuation
or Notice of Conversion, as the case may be, except that each Interest Period that commences on the
last Business Day of a calendar month, or on a day for which there is no corresponding day in the
appropriate subsequent calendar month, shall end on the last Business Day of the appropriate
subsequent calendar month. Notwithstanding the foregoing: (i) if any Interest Period would
otherwise end after the Termination Date, such Interest Period shall end on the Termination Date;
and (ii) each Interest Period that would otherwise end on a day which is not a Business Day shall
end on the immediately following Business Day (or, if such immediately following Business Day falls
in the next calendar month, on the immediately preceding Business Day).

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

“Investment Grade Rating” means a Credit Rating of BBB-/Baa3 (or equivalent) or higher from
the Rating Agencies (one of which must be S&P or Moody’s).

“Investment Grade Rating Date” means the date on which the Parent first obtains an Investment
Grade Rating.

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11

“Lender” means each financial institution from time to time party hereto as a “Lender,”
together with its respective successors and permitted assigns.

“Lending Office” means, for each Lender and for each Type of Loan, the office of such Lender
specified as such on such Lender’s Administrative Details form, or such other office of such Lender
of which such Lender may notify the Agent in writing from time to time.

“Level” has the meaning given that term in the definition of the term “Applicable Margin.”

“LIBOR” means, for any LIBOR Loan for any Interest Period therefor, the rate per annum
(rounded upwards, if necessary, to the nearest 1/100 of 1%) appearing on Reuters Screen LIBOR01
Page (or any successor page) as the London interbank offered rate for deposits in Dollars at
approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest
Period for a term comparable to such Interest Period. If for any reason such rate is not
available, LIBOR shall be, for any Interest Period, the rate per annum reasonably determined by the
Agent as the rate of interest at which Dollar deposits in the approximate amount of the LIBOR Loan
comprising part of such borrowing would be offered by the Agent to major banks in the London
interbank Eurodollar market at their request at or about 11:00 a.m. (London time) two Business Days
prior to the first day of such Interest Period for a term comparable to such Interest Period.

“LIBOR Loan” means a Term Loan bearing interest at a rate based on LIBOR.

“Lien” has the meaning given that term in the Existing Credit Agreement.

“Loan” means a Term Loan.

“Loan Document” means this Agreement, each Note, the Guaranty, the Pledge Agreement and each
other document or instrument now or hereafter executed and delivered by a Loan Party in connection
with, pursuant to or relating to this Agreement.

“Loan Party” means each of the Parent, the Borrower, each Pledgor, each Property Owner and
each other Person who guarantees all or a portion of the Obligations and/or who pledges any
collateral security to secure all or a portion of the Obligations. Schedule 1.1.(A) sets forth the
Loan Parties in addition to the Parent and the Borrower as of the Agreement Date.

“Material Adverse Effect” means a materially adverse effect on (a) the business, assets,
liabilities, condition (financial or otherwise), or results of operations of the Parent and its
Subsidiaries taken as a whole, (b) the ability of the Parent, the Borrower or any other Loan Party
to perform its obligations under any Loan Document to which it is a party, (c) the validity or
enforceability of any of the Loan Documents, or (d) the rights and remedies of the Lenders and the
Agent under any of the Loan Documents.

“Moody’s” means Moody’s Investors Service, Inc., and its successors.

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12

“Negative Pledge” means, with respect to a given asset, any provision of a document,
instrument or agreement (other than any Loan Document) which prohibits or purports to prohibit the
creation or assumption of any Lien on such asset as security for Indebtedness of the Person owning
such asset or any other Person; provided, however, that an agreement that conditions a Person’s
ability to encumber its assets upon the maintenance of one or more specified ratios that limit such
Person’s ability to encumber its assets but that do not generally prohibit the encumbrance of its
assets, or the encumbrance of specific assets, shall not constitute a Negative Pledge.

“Note” means a Term Note.

“Notice of Continuation” means a notice in the form of Exhibit B to be delivered to the Agent
pursuant to Section 2.6. evidencing the Borrower’s request for the Continuation of a LIBOR Loan.

“Notice of Conversion” means a notice in the form of Exhibit C to be delivered to the Agent
pursuant to Section 2.7. evidencing the Borrower’s request for the Conversion of a Loan from one
Type to another Type.

“Obligations” means, individually and collectively: (a) the aggregate principal balance of,
and all accrued and unpaid interest on, all Loans and (b) all other indebtedness, liabilities,
obligations, covenants and duties of the Borrower and the other Loan Parties owing to the Agent or
any Lender of every kind, nature and description, under or in respect of this Agreement or any of
the other Loan Documents, including, without limitation, the Fees and indemnification obligations,
whether direct or indirect, absolute or contingent, due or not due, contractual or tortious,
liquidated or unliquidated, and whether or not evidenced by any promissory note.

“OFAC” means U.S. Department of the Treasury’s Office of Foreign Assets Control and any
successor Governmental Authority.

“Parent” has the meaning set forth in the introductory paragraph hereof and shall include the
Parent’s successors and permitted assigns.

“Participant” has the meaning given that term in Section 11.5.(d).

“Permitted Liens” means, as to any Person: (a) Liens securing taxes, assessments and other
charges or levies imposed by any Governmental Authority (excluding any Lien imposed pursuant to any
of the provisions of ERISA or pursuant to any Environmental Laws) or the claims of materialmen,
mechanics, carriers, warehousemen or landlords for labor, materials, supplies or rentals incurred
in the ordinary course of business, which are not at the time required to be paid or discharged
under Section 8.6 of the Existing Credit Agreement; (b) Liens consisting of deposits or pledges
made, in the ordinary course of business, in connection with, or to secure payment of, obligations
under workers’ compensation, unemployment insurance or similar Applicable Laws; and (c) Liens in
favor of the Agent for the benefit of the Lenders.

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13

“Person” means an individual, corporation, partnership, limited liability company,
association, trust or unincorporated organization, or a government or any agency or political
subdivision thereof.

“Pledge Agreement” means the Pledge Agreement executed by the Borrower and the Pledgors in
favor of the Agent and substantially in the form of Exhibit H.

“Pledgor” means any Subsidiary of the Borrower that owns, directly or indirectly, any Equity
Interests of a Property Owner.

“Post-Default Rate” means a rate per annum equal to the Base Rate as in effect from time to
time plus the Applicable Margin for Base Rate Loans plus four percent (4.0%).

“Prime Rate” means the rate of interest per annum announced publicly by the Lender then acting
as the Agent as its prime rate from time to time. The Prime Rate is not necessarily the best or
the lowest rate of interest offered by the Lender acting as the Agent or any other Lender.

“Principal Office” means the office of the Agent located at One Wachovia Center, Charlotte,
North Carolina, or such other office of the Agent as the Agent may designate from time to time.

“Pro Rata Share” means, as to each Lender, the ratio, expressed as a percentage, of (a) the
outstanding principal amount of such Lender’s Term Loan to (b) the aggregate outstanding principal
amount of all Term Loans.

“Property” means any parcel of real property owned or leased (in whole or in part) or operated
by the Parent, the Borrower, any Subsidiary or any Unconsolidated Affiliate of the Borrower.

“Property Owner” means a Subsidiary of the Borrower which owns a Bridge Loan Property.

“Purchase Agreement” has the meaning given such term in the first “WHEREAS” clause of this
Agreement.

“Rating Agency” means S&P, Moody’s or any other nationally recognized statistical rating
organization acceptable to the Agent.

“Register” has the meaning given that term in Section 11.5.(c).

“Regulatory Change” means, with respect to any Lender, any change (including without
limitation, Regulation D of the Board of Governors of the Federal Reserve System) effective after
the Agreement Date in Applicable Law or the adoption or making after such date of any
interpretation, directive or request applying to a class of banks, including such Lender, of or
under any Applicable Law (whether or not having the force of law and whether or not failure to

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comply therewith would be unlawful) by any Governmental Authority or monetary authority charged
with the interpretation or administration thereof or compliance by any Lender with any request or
directive regarding capital adequacy.

“Release Price” means, with respect to a Bridge Loan Property, the release price set forth on
Schedule 1.1.(B) corresponding to such Property.

“Requisite Lenders” means, as of any date, Lenders holding at least 66-2/3% of the principal
amount of the aggregate outstanding Loans (not held by Defaulting Lenders who are not entitled to
vote). Loans held by Defaulting Lenders shall be disregarded when determining the Requisite
Lenders.

“Responsible Officer” means with respect to the Parent, the Borrower or any Subsidiary, the
chief executive officer, president and chief financial officer of the Parent, the Borrower or such
Subsidiary or, if any of the foregoing is a partnership, such officer of its general partner.

“Sanctioned Entity” means (a) an agency of the government of, (b) an organization directly or
indirectly controlled by, or (c) a Person resident in, in each case, a country that is subject to a
sanctions program identified on the list maintained by the OFAC and published from time to time, as
such program may be applicable to such agency, organization or Person.

“Sanctioned Person” means a Person named on the list of Specially Designated Nationals or
Blocked Persons maintained by the OFAC as published from time to time.

“Securities Act” means the Securities Act of 1933, as amended from time to time, together with
all rules and regulations issued thereunder.

“Significant Subsidiary” has the meaning given that term in the Existing Credit Agreement.

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

“Storage Property” means a Property primarily operated as a self-storage facility.

“Subsidiary” means, for any Person, any corporation, partnership, limited liability company or
other entity of which at least a majority of the Equity Interests having by the terms thereof
ordinary voting power to elect a majority of the board of directors or other individuals performing
similar functions of such corporation, partnership or other entity (without regard to the
occurrence of any contingency) is at the time directly or indirectly owned or controlled by such
Person or one or more Subsidiaries of such Person or by such Person and one or more Subsidiaries of
such Person, and shall include all Persons the accounts of which are consolidated with those of
such Person pursuant to GAAP.

“Taxes” has the meaning given that term in Section 3.12.

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15

“Term Commitment” means, as to a Lender, such Lender’s obligation to make a Term Loan pursuant
to Section 2.1.(a) in an amount up to, but not exceeding, the amount set forth for such Lender on
Schedule I as such Lender’s “Term Commitment Amount.”

“Term Loan” means a loan made by a Lender to the Borrower pursuant to Section 2.1.(a).

“Term Note” has the meaning given that term in Section 2.8.(a).

“Termination Date” means November 20, 2009, or such later date to which the Termination Date
may be extended pursuant to Section 2.9.

“Titled Agents” means each of the Lead Arranger and the Book Manager and their respective
successors and permitted assigns.

“Type” with respect to any Term Loan, refers to whether such Loan is a LIBOR Loan or Base Rate
Loan.

“Unconsolidated Affiliate” means, with respect to any Person, any other Person in which such
Person holds an Investment, which Investment is accounted for in the financial statements of such
Person on an equity basis of accounting and whose financial results would not be consolidated under
GAAP with the financial results of such Person on the consolidated financial statements of such
Person.

“Wachovia” means Wachovia Bank, National Association, together with its successors and
assigns.

“Wholly Owned Subsidiary” means any Subsidiary of a Person in respect of which all of the
equity securities or other ownership interests (other than, in the case of a corporation,
directors’ qualifying shares) are at the time directly or indirectly owned or controlled by such
Person or one or more other Subsidiaries of such Person or by such Person and one or more other
Subsidiaries of such Person.

	 	 	Section 1.2. General; References to Times.	 

Unless otherwise indicated, all accounting terms, ratios and measurements shall be interpreted
or determined in accordance with GAAP; provided that, 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 Requisite Lenders shall so request, the 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 Requisite Lenders);
provided further 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 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. References in
this Agreement to “Sections”, “Articles”, “Exhibits” and

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16

“Schedules” are to sections, articles, exhibits and schedules herein and hereto unless otherwise
indicated. References in this Agreement to any document, instrument or agreement (a) shall include
all exhibits, schedules and other attachments thereto, (b) shall include all documents, instruments
or agreements issued or executed in replacement thereof, to the extent permitted hereby and
(c) shall mean such document, instrument or agreement, or replacement or predecessor thereto, as
amended, supplemented, restated or otherwise modified as of the date of this Agreement and from
time to time thereafter to the extent not prohibited hereby and in effect at any given time.
Wherever from the context it appears appropriate, each term stated in either the singular or plural
shall include the singular and plural, and pronouns stated in the masculine, feminine or neuter
gender shall include the masculine, the feminine and the neuter. Unless explicitly set forth to
the contrary, a reference to “Subsidiary” means a Subsidiary of the Parent or a Subsidiary of such
Subsidiary and a reference to an “Affiliate” means a reference to an Affiliate of the Borrower.
Titles and captions of Articles, Sections, subsections and clauses in this Agreement are for
convenience only, and neither limit nor amplify the provisions of this Agreement. Unless otherwise
indicated, all references to time are references to Charlotte, North Carolina time.

	 	 	Section 1.3. Financial Attributes of Non-Wholly Owned Subsidiaries.	 

When determining compliance by the Borrower or the Parent with any financial covenant
contained in any of the Loan Documents, only the pro rata share of the Borrower or the Parent, as
applicable, of the revenues, expenses, assets, liabilities and other financial statement items of a
Subsidiary that is not a Wholly Owned Subsidiary shall be included; provided, however, for purposes
of determining the Parent’s compliance with any such financial covenant the Borrower shall be
considered to be a Wholly Owned Subsidiary of the Parent.

Article II. Credit Facility

	 	 	Section 2.1. Term Loans.	 

(a) Term Loans. Subject to the terms and conditions hereof, each Lender severally and
not jointly agrees to make a Term Loan to the Borrower on the Effective Date in an aggregate
principal amount of up to, but not exceeding, the lesser of (i) the amount of such Lender’s Term
Commitment and (ii) such Lender’s Commitment Percentage of 75% of the aggregate acquisition prices
of all of the Bridge Loan Properties as set forth on Schedule 1.1.(B). Upon the funding of the
Term Loans, the Term Commitments shall terminate. Once repaid, the principal amount of a Term Loan
may not be reborrowed.

(b) Requesting Term Loans. The Borrower shall give the Agent notice (which notice
must be received by the Agent no later than 11:00 a.m. on the date that is one Business Day prior
to the anticipated Effective Date) requesting that the Lenders make the Term Loans on the Effective
Date and specifying the amount of Term Loans to be borrowed. Upon receipt of such notice the Agent
shall promptly notify each Lender. The notice of borrowing provided by the Borrower in the
preceding sentence shall be irrevocable once given and binding on the Borrower.

(c) Disbursements of Term Loan Proceeds. No later than 1:00 p.m. on the Effective
Date, each Lender will make available for the account of its applicable Lending Office to the

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Agent at the Principal Office, in immediately available funds, the proceeds of the Term Loan to be
made by such Lender. Subject to satisfaction of the applicable conditions set forth in Article V.
for such borrowing, the Agent will make the proceeds of such borrowing available to the Borrower no
later than 2:00 p.m. on the Effective Date.

	 	 	Section 2.2. Rates and Payment of Interest on Loans.	 

(a) Rates. The Borrower promises to pay to the Agent for the account of each Lender
interest on the unpaid principal amount of the Term Loan made by such Lender for the period from
and including the date of the making of such Loan to but excluding the date such Loan shall be paid
in full, at the following per annum rates:

(i) during such periods as such Loan is a Base Rate Loan, at the Base Rate (as in
effect from time to time) plus the Applicable Margin; and

(ii) during such periods as such Loan is a LIBOR Loan, at Adjusted LIBOR for such Loan
for the Interest Period therefor plus the Applicable Margin.

Notwithstanding the foregoing, while an Event of Default exists, the Borrower shall pay to the
Agent for the account of each Lender interest at the Post-Default Rate on the outstanding principal
amount of the Term Loan made by such Lender and on any other amount payable by the Borrower
hereunder or under the Note held by such Lender to or for the account of such Lender (including
without limitation, accrued but unpaid interest to the extent permitted under Applicable Law).

(b) Payment of Interest. Accrued and unpaid interest on each Loan shall be payable
(i) in the case of a Base Rate Loan, monthly in arrears on the first day of each calendar month,
(ii) in the case of a LIBOR Loan, in arrears on the last day of each Interest Period therefor, and,
if such Interest Period is longer than three months, at three-month intervals following the first
day of such Interest Period, and (iii) in the case of any Loan, in arrears upon the payment,
prepayment or Continuation thereof or the Conversion of a Base Rate Loan into a LIBOR Loan (but
only on the principal amount so paid, prepaid, Continued or Converted). Interest payable at the
Post-Default Rate shall be payable from time to time on demand. Promptly after the determination
of any interest rate provided for herein or any change therein, the Agent shall give notice thereof
to the Lenders to which such interest is payable and to the Borrower. All determinations by the
Agent of an interest rate hereunder shall be conclusive and binding on the Lenders and the Borrower
for all purposes, absent manifest error.

(c) Inaccurate Financial Statements or Compliance Certificates. If any financial
statement or Compliance Certificate delivered pursuant to Section 9.3 of the Existing Credit
Agreement is shown to be inaccurate (regardless of whether this Agreement is in effect when such
inaccuracy is discovered), and such inaccuracy, if corrected, would have led to the application of
a higher Applicable Margin for any period (an “Applicable Period”) than the Applicable Margin
applied for such Applicable Period, then (i) the Borrower shall immediately deliver to the Agent a
correct Compliance Certificate for such Applicable Period and (ii) the Borrower shall immediately
pay to the Agent for the account of the Lenders the additional accrued additional interest owing
calculated based on such higher Applicable Margin for such

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18

Applicable Period, which payment shall be promptly applied by the Agent in accordance with
Section 3.2. This subsection shall not in any way limit the rights of the Agent and Lenders
(x) with respect to the last sentence of the immediately preceding subsection (a) or (y) under
Article IX.

	 	 	Section 2.3. Number of Interest Periods.	 

There may be no more than 4 different Interest Periods for LIBOR Loans outstanding at the same
time.

	 	 	Section 2.4. Repayment of Loans.	 

(a) The Borrower shall repay the entire outstanding principal amount of, and all accrued but
unpaid interest on, the Term Loans on the Termination Date.

	 	 	Section 2.5. Prepayments.	 

Subject to Section 4.4., the Borrower may prepay any Loan at any time without premium or
penalty. The Borrower shall give the Agent at least one Business Day’s prior written notice of the
prepayment of any Term Loan.

	 	 	Section 2.6. Continuation.	 

So long as no Default or Event of Default shall exist, the Borrower may on any Business Day,
with respect to any LIBOR Loan, elect to maintain such LIBOR Loan or any portion thereof as a LIBOR
Loan by selecting a new Interest Period for such LIBOR Loan. Each new Interest Period selected
under this Section shall commence on the last day of the immediately preceding Interest Period.
Each selection of a new Interest Period shall be made by the Borrower giving to the Agent a Notice
of Continuation not later than 11:00 a.m. on the third Business Day prior to the date of any such
Continuation. Such notice by the Borrower of a Continuation shall be by telephone or telecopy,
confirmed immediately in writing if by telephone, in the form of a Notice of Continuation,
specifying (a) the proposed date of such Continuation, (b) the LIBOR Loans and portions thereof
subject to such Continuation and (c) the duration of the selected Interest Period, all of which
shall be specified in such manner as is necessary to comply with all limitations on Loans
outstanding hereunder. Each Notice of Continuation shall be irrevocable by and binding on the
Borrower once given. Promptly after receipt of a Notice of Continuation, the Agent shall notify
each Lender by telecopy, or other similar form of transmission, of the proposed Continuation. If
the Borrower shall fail to select in a timely manner a new Interest Period for any LIBOR Loan in
accordance with this Section, or if a Default or Event of Default shall exist, such Loan will
automatically, on the last day of the current Interest Period therefor, Convert into a Base Rate
Loan notwithstanding the first sentence of Section 2.7. or the Borrower’s failure to comply with
any of the terms of such Section.

	 	 	Section 2.7. Conversion.	 

The Borrower may on any Business Day, upon the Borrower’s giving of a Notice of Conversion to
the Agent, Convert all or a portion of a Loan of one Type into a Loan of another

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19

Type; provided, however, a Base Rate Loan may not be Converted to a LIBOR Loan if a Default or
Event of Default shall exist. Any Conversion of a LIBOR Loan into a Base Rate Loan shall be made
on, and only on, the last day of an Interest Period for such LIBOR Loan and, upon Conversion of a
Base Rate Loan into a LIBOR Loan, the Borrower shall pay accrued interest to the date of Conversion
on the principal amount so Converted. Each such Notice of Conversion shall be given not later than
11:00 a.m. on the Business Day prior to the date of any proposed Conversion into Base Rate Loans
and on the third Business Day prior to the date of any proposed Conversion into LIBOR Loans.
Promptly after receipt of a Notice of Conversion, the Agent shall notify each Lender by telecopy,
or other similar form of transmission, of the proposed Conversion. Subject to the restrictions
specified above, each Notice of Conversion shall be by telephone (confirmed immediately in writing)
or telecopy in the form of a Notice of Conversion specifying (a) the requested date of such
Conversion, (b) the Type of Loan to be Converted, (c) the portion of such Type of Loan to be
Converted, (d) the Type of Loan such Loan is to be Converted into and (e) if such Conversion is
into a LIBOR Loan, the requested duration of the Interest Period of such Loan. Each Notice of
Conversion shall be irrevocable by and binding on the Borrower once given.

	 	 	Section 2.8. Notes.	 

(a) Term Notes. The Term Loan made by each Lender shall, in addition to this
Agreement, also be evidenced by a promissory note of the Borrower substantially in the form of
Exhibit G (each a “Term Note”), payable to the order of such Lender in a principal amount equal to
the amount of its Term Commitment as originally in effect and otherwise duly completed.

(b) Records. The date, amount, interest rate, Type and duration of Interest Periods
(if applicable) of the Term Loan made by each Lender to the Borrower, and each payment made on
account of the principal thereof, shall be recorded by such Lender on its books and such entries
shall be binding on the Borrower, absent manifest error; provided, however, that the failure of a
Lender to make any such record shall not affect the obligations of the Borrower under any of the
Loan Documents.

(c) Lost, Stolen, Destroyed or Mutilated Notes. Upon receipt by the Borrower of
(i) written notice from a Lender that the Note of such Lender has been lost, stolen, destroyed or
mutilated, and (ii) (A) in the case of loss, theft or destruction, an unsecured agreement of
indemnity from such Lender in form reasonably satisfactory to the Borrower, or (B) in the case of
mutilation, upon surrender and cancellation of such Note, the Borrower shall execute and deliver to
such Lender a new Note dated the date of such lost, stolen, destroyed or mutilated Note.

	 	 	Section 2.9. Extension of Termination Date.	 

The Borrower shall have the right, exercisable one time, to extend the Termination Date by one
year. The Borrower may exercise such right only by executing and delivering to the Agent at least
90 days prior to the current Termination Date, a written request for such extension (an “Extension
Request”). The Agent shall forward to each Lender a copy of the Extension Request delivered to the
Agent promptly upon receipt thereof. Subject to satisfaction of the following conditions, the
Termination Date shall be extended for one year effective upon receipt

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20

of the Extension Request and payment of the fee referred to in the following clause (b):
(a) immediately prior to such extension and immediately after giving effect thereto, (i) no Default
or Event of Default shall exist and (ii) the representations and warranties made or deemed made by
the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall
be true and correct in all material respects on and as of the date of such extension with the same
force and effect as if made on and as of such date except to the extent that such representations
and warranties expressly relate solely to an earlier date (in which case such representations and
warranties shall have been true and correct in all material respects on and as of such earlier
date) and except for changes in factual circumstances not prohibited under the Loan Documents and
(b) the Borrower shall have paid the Fees payable under Section 3.6.(a).

Article III. Payments, Fees and Other General Provisions

	 	 	Section 3.1. Payments.	 

Except to the extent otherwise provided herein, all payments of principal, interest and other
amounts to be made by the Borrower under this Agreement or any other Loan Document shall be made in
Dollars, in immediately available funds, without deduction, set-off or counterclaim, to the Agent
at its Principal Office, not later than 2:00 p.m. on the date on which such payment shall become
due (each such payment made after such time on such due date to be deemed to have been made on the
next succeeding Business Day). Subject to Section 9.3., the Borrower may, at the time of making
each payment under this Agreement or any Note, specify to the Agent the amounts payable by the
Borrower hereunder to which such payment is to be applied. Each payment received by the Agent for
the account of a Lender under this Agreement or any Note shall be paid to such Lender at the
applicable Lending Office of such Lender no later than 5:00 p.m. on the date of receipt. If the
Agent fails to pay such amount to a Lender as provided in the previous sentence, the Agent shall
pay interest on such amount until paid at a rate per annum equal to the Federal Funds Rate from
time to time in effect. If the due date of any payment under this Agreement or any other Loan
Document would otherwise fall on a day which is not a Business Day such date shall be extended to
the next succeeding Business Day and interest shall be payable for the period of such extension.

	 	 	Section 3.2. Pro Rata Treatment.	 

Except to the extent otherwise provided herein: (a)  payment of the Fees under the first
sentence of Section 3.6.(a) shall be made for the account of the Lenders, pro rata according to the
principal amounts of their respective Term Loans; (b) the making of Term Loans under
Section 2.1.(a) shall be made from the Lenders, pro rata according to the amounts of their
respective Term Commitments; (c) each payment or prepayment of principal of Term Loans by the
Borrower shall be made for the account of the Lenders pro rata in accordance with the respective
unpaid principal amounts of the Term Loans held by them; (d) each payment of interest on Term Loans
by the Borrower shall be made for the account of the Lenders pro rata in accordance with the
amounts of interest on the Term Loans then due and payable to the Lenders; and (e) the Conversion
and Continuation of Term Loans of a particular Type (other than Conversions provided for by
Section 4.6.) shall be made pro rata among the Lenders according

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21

to the amounts of their respective Term Loans, and the then current Interest Period for each
Lender’s portion of each such Loan of such Type shall be coterminous.

	 	 	Section 3.3. Sharing of Payments, Etc.	 

If a Lender shall obtain payment of any principal of, or interest on, any Loan made by it to
the Borrower under this Agreement, or shall obtain payment on any other Obligation owing by the
Borrower or any other Loan Party through the exercise of any right of set-off, banker’s lien or
counterclaim or similar right or otherwise or through voluntary prepayments directly to a Lender or
other payments made by the Borrower to a Lender not in accordance with the terms of this Agreement
and such payment should be distributed to the Lenders pro rata in accordance with Section 3.2. or
Section 9.3., as applicable, such Lender shall promptly purchase from the other Lenders
participations in (or, if and to the extent specified by such Lender, direct interests in) the
Loans made by the other Lenders or other Obligations owed to such other Lenders in such amounts,
and make such other adjustments from time to time as shall be equitable, to the end that all the
Lenders shall share the benefit of such payment (net of any reasonable expenses which may be
incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with
Section 3.2. or Section 9.3., as applicable. To such end, all the Lenders shall make appropriate
adjustments among themselves (by the resale of participations sold or otherwise) if such payment is
rescinded or must otherwise be restored. The Borrower agrees that any Lender so purchasing a
participation (or direct interest) in the Loans or other Obligations owed to such other Lenders may
exercise all rights of set-off, banker’s lien, counterclaim or similar rights with respect to such
participation as fully as if such Lender were a direct holder of Loans in the amount of such
participation. Nothing contained herein shall require any Lender to exercise any such right or
shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such
right with respect to any other indebtedness or obligation of the Borrower.

	 	 	Section 3.4. Several Obligations.	 

No Lender shall be responsible for the failure of any other Lender to make a Loan or to
perform any other obligation to be made or performed by such other Lender hereunder, and the
failure of any Lender to make a Loan or to perform any other obligation to be made or performed by
it hereunder shall not relieve the obligation of any other Lender to make any Loan or to perform
any other obligation to be made or performed by such other Lender.

	 	 	Section 3.5. Minimum Amounts.	 

(a) Borrowings and Conversions. Base Rate Loans shall be in an aggregate minimum
amount of $1,000,000 and integral multiples of $100,000 in excess thereof. LIBOR Loans shall be in
an aggregate minimum amount of $1,000,000 and integral multiples of $100,000 in excess of that
amount.

(b) Prepayments. Each voluntary prepayment of Term Loans shall be in an aggregate
minimum amount of $1,000,000 and integral multiples of $100,000 in excess thereof (or, if less, the
aggregate principal amount of Term Loans then outstanding).

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	 	 	Section 3.6. Fees.	 

(a) Extension Fee. If the Borrower exercises its right to extend the Termination Date
in accordance with Section 2.9., the Borrower agrees to pay to the Agent for the account of each
Lender a fee equal to 0.15% of the outstanding principal balance of such Lender’s Term Loan at the
time of such extension. Such fee shall be due and payable in full on the date the Agent receives
the Extension Request pursuant to such Section.

(b) Administrative and Other Fees. The Borrower agrees to pay the administrative and
other fees of the Agent as may be agreed to in writing by the Borrower and the Agent from time to
time.

	 	 	Section 3.7. Computations.	 

Unless otherwise expressly set forth herein, any accrued interest on any Loan, any Fees or any
other Obligations due hereunder shall be computed on the basis of a year of 365 or 366 days, as
applicable, and the actual number of days elapsed; provided, however, interest on LIBOR Loans shall
be computed on the basis of a year of 360 days and the actual number of days elapsed.

	 	 	Section 3.8. Usury.	 

In no event shall the amount of interest due or payable on the Loans or other Obligations
exceed the maximum rate of interest allowed by Applicable Law and, if any such payment is paid by
the Borrower or any other Loan Party or received by any Lender, then such excess sum shall be
credited as a payment of principal, unless the Borrower shall notify the respective Lender in
writing that the Borrower elects to have such excess sum returned to it forthwith. It is the
express intent of the parties hereto that the Borrower not pay and the Lenders not receive,
directly or indirectly, in any manner whatsoever, interest in excess of that which may be lawfully
paid by the Borrower under Applicable Law.

	 	 	Section 3.9. Agreement Regarding Interest and Charges.	 

The parties hereto hereby agree and stipulate that the only charge imposed upon the Borrower
for the use of money in connection with this Agreement is and shall be the interest specifically
described in Sections 2.2.(a)(i) and (ii). Notwithstanding the foregoing, the parties hereto
further agree and stipulate that all agency fees, syndication fees, closing fees, underwriting
fees, default charges, late charges, funding or “breakage” charges, increased cost charges,
attorneys’ fees and reimbursement for costs and expenses paid by the Agent or any Lender to third
parties or for damages incurred by the Agent or any Lender, in each case in connection with the
transactions contemplated by this Agreement and the other Loan Documents, are charges made to
compensate the Agent or any such Lender for underwriting or administrative services and costs or
losses performed or incurred, and to be performed or incurred, by the Agent and the Lenders in
connection with this Agreement and shall under no circumstances be deemed to be charges for the use
of money. All charges other than charges for the use of money shall be fully earned and
nonrefundable when due.

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	 	 	Section 3.10. Statements of Account.	 

The Agent will account to the Borrower monthly with a statement of Loans, accrued interest and
Fees, charges and payments made pursuant to this Agreement and the other Loan Documents, and such
account rendered by the Agent shall be deemed conclusive upon Borrower absent manifest error. The
failure of the Agent to deliver such a statement of accounts shall not relieve or discharge the
Borrower from any of its obligations hereunder.

	 	 	Section 3.11. Defaulting Lenders.	 

(a) Generally. If for any reason any Lender (a “Defaulting Lender”) shall fail or
refuse to perform any of its obligations under this Agreement or any other Loan Document to which
it is a party within the time period specified for performance of such obligation or, if no time
period is specified, if such failure or refusal continues for a period of two Business Days after
notice from the Agent, then, in addition to the rights and remedies that may be available to the
Agent or the Borrower under this Agreement or Applicable Law, such Defaulting Lender’s right to
participate in the administration of the Loans, this Agreement and the other Loan Documents,
including without limitation, any right to vote in respect of, to consent to or to direct any
action or inaction of the Agent or to be taken into account in the calculation of the Requisite
Lenders, shall be suspended during the pendency of such failure or refusal. If a Lender is a
Defaulting Lender because it has failed to make timely payment to the Agent of any amount required
to be paid to the Agent hereunder (without giving effect to any notice or cure periods), in
addition to other rights and remedies which the Agent or the Borrower may have under the
immediately preceding provisions or otherwise, the Agent shall be entitled (i) to collect interest
from such Defaulting Lender on such delinquent payment for the period from the date on which the
payment was due until the date on which the payment is made at the Federal Funds Rate, (ii) to
withhold or setoff and to apply in satisfaction of the defaulted payment and any related interest,
any amounts otherwise payable to such Defaulting Lender under this Agreement or any other Loan
Document and (iii) to bring an action or suit against such Defaulting Lender in a court of
competent jurisdiction to recover the defaulted amount and any related interest. Any amounts
received by the Agent in respect of a Defaulting Lender’s Loans shall not be paid to such
Defaulting Lender and shall be held uninvested by the Agent and either applied against the purchase
price of such Loans under the following subsection (b) or paid to such Defaulting Lender upon such
Defaulting Lender’s curing of its default.

(b) Purchase of Defaulting Lender’s Loan. Any Lender who is not a Defaulting Lender
may, but shall not be obligated, in its sole discretion, to acquire all or a portion of a
Defaulting Lender’s Term Loan. Any Lender desiring to exercise such right shall give written
notice thereof to the Agent and the Borrower no sooner than 2 Business Days and not later than 5
Business Days after such Defaulting Lender became a Defaulting Lender. If more than one Lender
exercises such right, each such Lender shall have the right to acquire an amount of such Defaulting
Lender’s Term Loan in proportion to the principal amount of the Term Loans of the other Lenders
exercising such right. If after such 5th Business Day, the Lenders have not elected to purchase
all of the Term Loan of such Defaulting Lender, then the Borrower may, by giving written notice
thereof to the Agent, such Defaulting Lender and the other Lenders, either (i) demand that such
Defaulting Lender assign its Term Loan to an Eligible Assignee subject to and in accordance with
the provisions of Section 11.5.(b) for the purchase price provided for

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below or (ii)  repay the Term Loan of such Defaulting Lender, whereupon such Defaulting Lender
shall no longer be a party hereto or have any rights or obligations hereunder or under any of the
other Loan Documents. No party hereto shall have any obligation whatsoever to initiate any such
replacement or to assist in finding an Eligible Assignee. Upon any such purchase or assignment,
the Defaulting Lender’s interest in the Loans and its rights hereunder (but not its liability in
respect thereof or under the Loan Documents or this Agreement to the extent the same relate to the
period prior to the effective date of the purchase except to the extent assigned pursuant to such
purchase) shall terminate on the date of purchase, and the Defaulting Lender shall promptly execute
all documents reasonably requested to surrender and transfer such interest to the purchaser or
assignee thereof, including an appropriate Assignment and Acceptance Agreement and, notwithstanding
Section 11.5.(b), shall pay to the Agent an assignment fee in the amount of $7,000. The purchase
price for the Term Loan of a Defaulting Lender shall be equal to the amount of the outstanding
principal balance of the Term Loan owed by the Borrower to the Defaulting Lender. Prior to payment
of such purchase price to a Defaulting Lender, the Agent shall apply against such purchase price
any amounts retained by the Agent pursuant to the last sentence of the immediately preceding
subsection (a). The Defaulting Lender shall be entitled to receive amounts owed to it by the
Borrower under the Loan Documents which accrued prior to the date of the default by the Defaulting
Lender, to the extent the same are received by the Agent from or on behalf of the Borrower. There
shall be no recourse against any Lender or the Agent for the payment of such sums except to the
extent of the receipt of payments from any other party or in respect of the Loans.

	 	 	Section 3.12. Taxes.	 

(a) Taxes Generally. All payments by the Borrower of principal of, and interest on,
the Loans and all other Obligations shall be made free and clear of and without deduction for any
present or future excise, stamp or other taxes, fees, duties, levies, imposts, charges, deductions,
withholdings or other charges of any nature whatsoever imposed by any taxing authority, but
excluding (i) franchise taxes, (ii) any taxes imposed on or measured by any Lender’s assets, net
income, receipts or branch profits, (iii) any taxes (other than withholding taxes) with respect to
the Agent or a Lender that would not be imposed but for a connection between the Agent or such
Lender and the jurisdiction imposing such taxes (other than a connection arising solely by virtue
of the activities of the Agent or such Lender pursuant to or in respect of this Agreement or any
other Loan Document), and (iv) any taxes, fees, duties, levies, imposts, charges, deductions,
withholdings or other charges to the extent imposed as a result of the failure of the Agent or a
Lender, as applicable, to provide and keep current (to the extent legally able) any certificates,
documents or other evidence required to qualify for an exemption from, or reduced rate of, any such
taxes fees, duties, levies, imposts, charges, deductions, withholdings or other charges or required
by the immediately following subsection (c) to be furnished by the Agent or such Lender, as
applicable (such non-excluded items being collectively called “Taxes”). If any withholding or
deduction from any payment to be made by the Borrower hereunder is required in respect of any Taxes
pursuant to any Applicable Law, then the Borrower will:

(i) pay directly to the relevant Governmental Authority the full amount required to be
so withheld or deducted;

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(ii) promptly forward to the Agent an official receipt or other documentation
satisfactory to the Agent evidencing such payment to such Governmental Authority; and

(iii) pay to the Agent for its account or the account of the applicable Lender, as the
case may be, such additional amount or amounts as is necessary to ensure that the net amount
actually received by the Agent or such Lender will equal the full amount that the Agent or
such Lender would have received had no such withholding or deduction been required.

(b) Tax Indemnification. If the Borrower fails to pay any Taxes when due to the
appropriate Governmental Authority or fails to remit to the Agent, for its account or the account
of the respective Lender, as the case may be, the required receipts or other required documentary
evidence, the Borrower shall indemnify the Agent and the Lenders for any incremental Taxes,
interest or penalties that may become payable by the Agent or any Lender as a result of any such
failure. For purposes of this Section, a distribution hereunder by the Agent or any Lender to or
for the account of any Lender shall be deemed a payment by the Borrower.

(c) Tax Forms. Prior to the date that any Foreign Lender becomes a party hereto, such
Foreign Lender shall deliver to the Borrower and the Agent such certificates, documents or other
evidence, as required by the Internal Revenue Code or Treasury Regulations issued pursuant thereto
(including Internal Revenue Service Forms W-8ECI and W-8BEN, as applicable, or appropriate
successor forms), properly completed, currently effective and duly executed by such Foreign Lender
establishing that payments to it hereunder and under the Notes are (i) not subject to United States
Federal backup withholding tax and (ii) not subject to United States Federal withholding tax
imposed under the Internal Revenue Code. Each such Foreign Lender shall, to the extent it may
lawfully do so, (x) deliver further copies of such forms or other appropriate certifications on or
before the date that any such forms expire or become obsolete and after the occurrence of any event
requiring a change in the most recent form delivered to the Borrower or the Agent and (y) obtain
such extensions of the time for filing, and renew such forms and certifications thereof, as may be
reasonably requested by the Borrower or the Agent. The Borrower shall not be required to pay any
amount pursuant to the last sentence of subsection (a) above to any Foreign Lender or the Agent, if
it is organized under the laws of a jurisdiction outside of the United States of America, if such
Foreign Lender or the Agent, as applicable, fails to comply with the requirements of this
subsection. If any such Foreign Lender, to the extent it may lawfully do so, fails to deliver the
above forms or other documentation, then the Agent may withhold from any payments to be made to
such Foreign Lender under any of the Loan Documents such amounts as are required to be withheld by
the Internal Revenue Code. If any Governmental Authority asserts that the Agent did not properly
withhold or backup withhold, as the case may be, any tax or other amount from payments made to or
for the account of any Lender, such Lender shall indemnify the Agent therefor, including all
penalties and interest, any taxes imposed by any jurisdiction on the amounts payable to the Agent
under this Section, and costs and expenses (including all reasonable fees and disbursements of any
law firm or other external counsel and the allocated cost of internal legal services and all
disbursements of internal counsel) of the Agent. The obligation of the Lenders under this Section
shall survive the repayment of all Obligations and the resignation or replacement of the Agent.

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Article IV. Yield Protection, Etc.

	 	 	Section 4.1. Additional Costs; Capital Adequacy.	 

(a) Additional Costs. The Borrower shall promptly pay to the Agent for the account of
each affected Lender from time to time such amounts as such Lender may reasonably determine to be
necessary to compensate such Lender for any costs incurred by such Lender that it reasonably
determines are attributable to its making or maintaining of any LIBOR Loans or its obligation to
make any LIBOR Loans hereunder, any reduction in any amount receivable by such Lender under this
Agreement or any of the other Loan Documents in respect of any of such Loans or such obligation or
the maintenance by such Lender of capital in respect of its respective Term Loans (such increases
in costs and reductions in amounts receivable being herein called “Additional Costs”), to the
extent resulting from any Regulatory Change that: (i) changes the basis of taxation of any amounts
payable to such Lender under this Agreement or any of the other Loan Documents in respect of any of
its respective Term Loans (other than taxes, fees, duties, levies, imposts, charges, deductions,
withholdings or other charges which are excluded from the definition of Taxes pursuant to the first
sentence of Section 3.12.(a)); or (ii) imposes or modifies any reserve, special deposit or similar
requirements (other than Regulation D of the Board of Governors of the Federal Reserve System or
other reserve requirement to the extent utilized in the determination of Adjusted LIBOR for such
Loan) relating to any extensions of credit or other assets of, or any deposits with or other
liabilities of, such Lender, or any commitment of such Lender; or (iii) has or would have the
effect of reducing the rate of return on capital of such Lender to a level below that which such
Lender could have achieved but for such Regulatory Change (taking into consideration such Lender’s
policies with respect to capital adequacy).

(b) Lender’s Suspension of LIBOR Loans. Without limiting the effect of the provisions
of the immediately preceding subsection (a), if, by reason of any Regulatory Change, any Lender
either (i) incurs Additional Costs based on or measured by the excess above a specified level of
the amount of a category of deposits or other liabilities of such Lender that includes deposits by
reference to which the interest rate on LIBOR Loans is determined as provided in this Agreement or
a category of extensions of credit or other assets of such Lender that includes LIBOR Loans or
(ii) becomes subject to restrictions on the amount of such a category of liabilities or assets that
it may hold, then, if such Lender so elects by notice to the Borrower (with a copy to the Agent),
the obligation of such Lender to Continue, or to Convert any other Type of Loans into, LIBOR Loans
hereunder shall be suspended until such Regulatory Change ceases to be in effect (in which case the
provisions of Section 4.6. shall apply).

(c) Notification and Determination of Additional Costs. Each of the Agent and each
Lender agrees to notify the Borrower of any event occurring after the Agreement Date entitling the
Agent or such Lender to compensation under any of the preceding subsections of this Section as
promptly as practicable; provided, however, the failure of the Agent or any Lender to give such
notice shall not release the Borrower from any of its obligations hereunder (and in the case of a
Lender, to the Agent). The Agent or such Lender agrees to furnish to the Borrower (and in the case
of a Lender, to the Agent) a certificate setting forth in reasonable detail the basis and amount of
each request by the Agent or such Lender for compensation under this Section. Absent manifest
error, determinations by the Agent or any Lender of the effect of any Regulatory

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Change shall be conclusive, provided that such determinations are made on a reasonable basis and in
good faith.

	 	 	Section 4.2. Suspension of LIBOR Loans.	 

Anything herein to the contrary notwithstanding, if, on or prior to the determination of
Adjusted LIBOR for any Interest Period:

(a) the Agent reasonably determines (which determination shall be conclusive) that by
reason of circumstances affecting the relevant market, adequate and reasonable means do not
exist for ascertaining Adjusted LIBOR for such Interest Period, or

(b) the Agent or the Requisite Lenders reasonably determine (which determination shall
be conclusive) that Adjusted LIBOR will not adequately and fairly reflect the cost to the
Lenders of making or maintaining LIBOR Loans for such Interest Period;

then the Agent shall give the Borrower and each Lender prompt notice thereof and, so long as such
condition remains in effect, the Lenders shall be under no obligation to, and shall not, Continue
LIBOR Loans or Convert Loans into LIBOR Loans and the Borrower shall, on the last day of each
current Interest Period for each outstanding LIBOR Loan, either repay such Loan or Convert such
Loan into a Base Rate Loan.

	 	 	Section 4.3. Illegality.	 

Notwithstanding any other provision of this Agreement, if any Lender shall reasonably
determine (which determination shall be conclusive and binding) that it has become unlawful for
such Lender to honor its obligation to maintain LIBOR Loans hereunder, then such Lender shall
promptly notify the Borrower thereof (with a copy to the Agent) and such Lender’s obligation to
Continue, or to Convert Loans of any other Type into, LIBOR Loans shall be suspended until such
time as such Lender may again maintain LIBOR Loans (in which case the provisions of Section 4.6.
shall be applicable).

	 	 	Section 4.4. Compensation.	 

The Borrower shall pay to the Agent for the account of each Lender, upon the request of such
Lender through the Agent, such amount or amounts as shall be sufficient (in the reasonable opinion
of such Lender) to compensate it for any loss, cost or expense that such Lender reasonably
determines is attributable to:

(a) any payment or prepayment (whether mandatory or optional) of a LIBOR Loan, or
Conversion of a LIBOR Loan, made by such Lender for any reason (including, without
limitation, acceleration) on a date other than the last day of the Interest Period for such
Loan; or

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(b) any failure by the Borrower for any reason (including, without limitation, the
failure of any of the applicable conditions precedent specified in Article V. to be
satisfied) to borrow a LIBOR Loan from such Lender on the requested date for such borrowing,
or to Convert a Base Rate Loan into a LIBOR Loan or Continue a LIBOR Loan on the requested
date of such Conversion or Continuation.

Upon the Borrower’s request, any Lender requesting compensation under this Section shall provide
the Borrower with a statement setting forth in reasonable detail the basis for requesting such
compensation and the method for determining the amount thereof. Absent manifest error,
determinations by any Lender in any such statement shall be conclusive, provided that such
determinations are made on a reasonable basis and in good faith.

	 	 	Section 4.5. Affected Lenders.	 

If (a) a Lender requests compensation pursuant to Section 3.12. or 4.1., and the Requisite
Lenders are not also doing the same, or (b) the obligation of any Lender to Continue, or to Convert
Base Rate Loans into, LIBOR Loans shall be suspended pursuant to Section 4.1.(b) or 4.3. but the
obligation of the Requisite Lenders shall not have been suspended under such Sections, then, so
long as there does not then exist any Default or Event of Default, the Borrower may demand that
such Lender (the “Affected Lender”), and upon such demand the Affected Lender shall promptly,
assign its Term Loan to an Eligible Assignee subject to and in accordance with the provisions of
Section 11.5.(b) for a purchase price equal to the aggregate principal balance of the Term Loan
then owing to the Affected Lender plus any accrued but unpaid interest thereon and accrued but
unpaid fees owing to the Affected Lender, or any other amount as may be mutually agreed upon by
such Affected Lender and Eligible Assignee. Each of the Agent and the Affected Lender shall
reasonably cooperate in effectuating the replacement of such Affected Lender under this Section,
but at no time shall the Agent, such Affected Lender nor any other Lender be obligated in any way
whatsoever to initiate any such replacement or to assist in finding an Eligible Assignee. The
exercise by the Borrower of its rights under this Section shall be at the Borrower’s sole cost and
expense and at no cost or expense to the Agent, the Affected Lender or any of the other Lenders;
provided, however, that if an Eligible Assignee shall pay a premium over the sum of the aggregate
outstanding principal amount plus accrued and unpaid interest and fees, such premium shall be borne
solely by such Eligible Assignee and shall not be deemed a cost or expense payable by the Borrower.
The terms of this Section shall not in any way limit the Borrower’s obligation to pay to any
Affected Lender compensation owing to such Affected Lender pursuant to Section 3.12. or 4.1. with
respect to periods up to the date of replacement.

	 	 	Section 4.6. Treatment of Affected Loans.	 

If the obligation of any Lender to Continue, or to Convert Base Rate Loans into, LIBOR Loans
shall be suspended pursuant to Section 4.1.(b) or 4.3., then such Lender’s LIBOR Loans shall be
automatically Converted into Base Rate Loans on the last day(s) of the then current Interest
Period(s) for LIBOR Loans (or, in the case of a Conversion required by Section 4.1.(b) or 4.3., on
such earlier date as such Lender may specify to the Borrower with a copy to the Agent) and, unless
and until such Lender gives notice as provided below that the circumstances specified in
Section 4.1. or 4.3. that gave rise to such Conversion no longer exist:

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(a) to the extent that such Lender’s LIBOR Loans have been so Converted, all payments
and prepayments of principal that would otherwise be applied to such Lender’s LIBOR Loans
shall be applied instead to its Base Rate Loans; and

(b) all Loans that would otherwise be Continued by such Lender as LIBOR Loans shall be
Continued instead as Base Rate Loans, and all Base Rate Loans of such Lender that would
otherwise be Converted into LIBOR Loans shall remain as Base Rate Loans.

If such Lender gives notice to the Borrower (with a copy to the Agent) that the circumstances
specified in Section 4.1. or 4.3. that gave rise to the Conversion of such Lender’s LIBOR Loans
pursuant to this Section no longer exist (which such Lender agrees to do promptly upon such
circumstances ceasing to exist) at a time when LIBOR Loans made by other Lenders are outstanding,
then such Lender’s Base Rate Loans shall be automatically Converted, on the first day(s) of the
next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so
that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans and by such
Lender are held pro rata (as to principal amounts, Types and Interest Periods) pro rata in
accordance with the Term Loans made by each of them.

	 	 	Section 4.7. Change of Lending Office.	 

Each Lender agrees that it will use reasonable efforts to designate an alternate Lending
Office with respect to its Term Loan affected by the matters or circumstances described in
Section 3.12., 4.1. or 4.3. to reduce the liability of the Borrower or avoid the results provided
thereunder, so long as such designation is not disadvantageous to such Lender as determined by such
Lender in its sole discretion, except that such Lender shall have no obligation to designate a
Lending Office located in the United States of America.

	 	 	Section 4.8. Assumptions Concerning Funding of LIBOR Loans.	 

Calculation of all amounts payable to a Lender under this Article IV. shall be made as though
such Lender had actually funded LIBOR Loans through the purchase of deposits in the relevant
market bearing interest at the rate applicable to such LIBOR Loans in an amount equal to the amount
of the LIBOR Loans and having a maturity comparable to the relevant Interest Period; provided,
however, that each Lender may fund each of its LIBOR Loans in any manner it sees fit and the
foregoing assumption shall be used only for calculation of amounts payable under this Article IV.

Article V. Conditions Precedent

	 	 	Section 5.1. Initial Conditions Precedent.	 

The obligation of the Lenders to make the Term Loans is subject to the following conditions
precedent:

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(a) The Agent shall have received each of the following, in form and substance satisfactory to
the Agent:

(i) Counterparts of this Agreement executed by each of the parties hereto;

(ii) Term Notes executed by the Borrower, payable to each Lender and complying with the
applicable provisions of Section 2.8.;

(iii) The Guaranty executed by the Parent and each other Guarantor existing as of the
Effective Date;

(iv) The Pledge Agreement executed by the Borrower and the Pledgors;

(v) An opinion of counsel to the Loan Parties, addressed to the Agent and, the Lenders,
addressing the matters set forth in Exhibit D;

(vi) The articles of incorporation, articles of organization, certificate of limited
partnership, declaration of trust or other comparable organizational instrument (if any) of
the Borrower and each other Loan Party certified as of a recent date by the Secretary of
State (or comparable official) of the state of formation of such Loan Party;

(vii) A certificate of good standing or certificate of similar meaning with respect to
each Loan Party issued as of a recent date by the Secretary of State (or comparable
official) of the state of formation of each such Loan Party and certificates of
qualification to transact business or other comparable certificates issued by each Secretary
of State (or comparable official and any state department of taxation, as applicable) of
each state in which such Loan Party is required to be so qualified and where the failure to
be so qualified could reasonably be expected to have a Material Adverse Effect;

(viii) A certificate of incumbency signed by the Secretary or Assistant Secretary (or
other individual performing similar functions) of each Loan Party with respect to each of
the officers of such Loan Party authorized to execute and deliver the Loan Documents to
which such Loan Party is a party, and in the case of the Borrower, and the officers of the
Borrower then authorized to deliver Notices of Borrowing, Notices of Continuation and
Notices of Conversion;

(ix) Copies certified by the Secretary or Assistant Secretary (or other individual
performing similar functions) of each Loan Party of (i) the by-laws of such Loan Party, if a
corporation, the operating agreement of such Loan Party, if a limited liability company, the
partnership agreement of such Loan Party, if a limited or general partnership, or other
comparable document in the case of any other form of legal entity and (ii) all corporate,
partnership, member or other necessary action taken by such Loan Party to authorize the
execution, delivery and performance of the Loan Documents to which it is a party;

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(x) The results of a recent UCC, tax, judgment and lien search in each of the
jurisdictions in which UCC financing statements or other filings or recordations should be
made to evidence or perfect security interests in Collateral being granted under the Pledge
Agreement as of the Effective Date, and such search shall reveal no Liens of record with
respect to any of such Collateral other than Liens to be terminated prior to the Effective
Date or other Liens acceptable to the Agent;

(xi) Each document (including, without limitation, any UCC financing statement)
required by the Pledge Agreement or under Applicable Law or reasonably deemed necessary or
appropriate by the Agent to be filed, registered or recorded in order to create in favor of
the Agent, for the benefit of the Lenders, a perfected first-priority Lien on the Collateral
described therein, shall have been filed, registered or recorded or shall have been
delivered to the Agent and be in proper form for filing, registration or recordation;

(xii) All certificates, if any, representing any shares of Equity Interests pledged
pursuant to the Pledge Agreement, together with an undated transfer power for each such
certificate executed in blank by a duly authorized officer or agent of the Loan Party with
rights in such Equity Interest, together with an Acknowledgment and Consent, substantially
in the form of Schedule 2 to the Pledge Agreement, duly executed by the issuer of such
Equity Interest;

(xiii) Evidence that title to the Bridge Loan Properties is owned by the Property
Owners, which evidence may include copies of owner’s title policies of insurance (or
commitments to issue the same) issued as of a recent date showing fee simple title to the
Bridge Loan Properties being vested in the applicable Property Owners;

(xiv) A certificate of the chief executive officer, chief financial officer or other
senior officer of the Parent certifying that all conditions precedent in the Purchase
Agreement to the closing of the Acquisition (other than the payment of the Purchase Price
(as defined in the Purchase Agreement)) have been satisfied;

(xv) The Fees then due and payable under Section 3.6., and any other Fees payable to
the Agent, the Titled Agents and the Lenders on or prior to the Effective Date;

(xvi) A Compliance Certificate calculated as of June 30, 2007 (giving pro forma effect
to the financing contemplated by this Agreement and the use of the proceeds of the Loans to
be funded on the Effective Date); and

(xvii) Such other documents, agreements and instruments as the Agent on behalf of the
Lenders may reasonably request; and

(b) In the good faith judgment of the Agent and the Lenders:

(i) There shall not have occurred or become known to the Agent or any of the Lenders
any event, condition, situation or status since the date of the information

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contained in the financial and business projections, budgets, pro forma data and forecasts
concerning the Parent, the Borrower and the other Subsidiaries delivered to the Agent and
the Lenders prior to the Agreement Date that has had or could reasonably be expected to
result in a Material Adverse Effect;

(ii) No litigation, action, suit, investigation or other arbitral, administrative or
judicial proceeding shall be pending or threatened which could reasonably be expected to
(1) result in a Material Adverse Effect or (2) restrain or enjoin, impose materially
burdensome conditions on, or otherwise materially and adversely affect the ability of the
Parent, the Borrower or any other Loan Party to fulfill its obligations under the Loan
Documents to which it is a party;

(iii) The Parent, the Borrower and the other Subsidiaries shall have received all
approvals, consents and waivers, and shall have made or given all necessary filings and
notices, as shall be required to consummate the transactions contemplated hereby without the
occurrence of any default under, conflict with or violation of (1) any Applicable Law or
(2) any agreement, document or instrument to which the Borrower or any other Loan Party is a
party or by which any of them or their respective properties is bound, except for such
approvals, consents, waivers, filings and notices the receipt, making or giving of which
would not reasonably be likely to (A) have a Material Adverse Effect, or (B) restrain or
enjoin, impose materially burdensome conditions on, or otherwise materially and adversely
affect the ability of the Parent, the Borrower or any other Loan Party to fulfill its
obligations under the Loan Documents to which it is a party; and

(iv) There shall not have occurred or exist any other material disruption of financial
or capital markets that could reasonably be expected to materially and adversely affect the
transactions contemplated by the Loan Documents.

	 	 	Section 5.2. Additional Conditions Precedent to Loans.	 

The obligations of the Lenders to make the Term Loans is subject to the further condition
precedent that: (a) no Default or Event of Default shall exist as of the date of the making of
such Loan or would exist immediately after giving effect thereto; and (b) the representations and
warranties made or deemed made by the Parent, the Borrower and each other Loan Party in the Loan
Documents to which any of them is a party, shall be true and correct in all material respects on
and as of the date of the making of such Loans with the same force and effect as if made on and as
of such date except to the extent that such representations and warranties expressly relate solely
to an earlier date (in which case such representations and warranties shall have been true and
correct in all material respects on and as of such earlier date) and except for changes in factual
circumstances not prohibited under the Loan Documents. Each Credit Event shall constitute a
certification by the Borrower to the effect set forth in the preceding sentence (both as of the
date of the giving of notice relating to such Credit Event and, unless the Borrower otherwise
notifies the Agent prior to the date of such Credit Event, as of the date of the occurrence of such
Credit Event). In addition, if such Credit Event is the making of a Loan, the Borrower shall be
deemed to have represented to the Agent and the Lenders at the time such Loan is made that all
conditions to the occurrence of such Credit Event contained in this Article V. have been satisfied.

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Article VI. Representations and Warranties

	 	 	Section 6.1. Representations and Warranties.	 

In order to induce the Agent and each Lender to enter into this Agreement and to make Loans,
each of the Parent and the Borrower represents and warrants to the Agent and each Lender as
follows:

(a) Organization; Power; Qualification. Each of the Parent, the Borrower, the other
Loan Parties, and each other Subsidiary is a corporation, partnership, trust or other legal entity,
duly organized or formed, validly existing and in good standing under the jurisdiction of its
incorporation or formation, has the power and authority to own or lease its respective properties
and to carry on its respective business as now being and hereafter proposed to be conducted and is
duly qualified and is in good standing as a foreign corporation, partnership, trust or other legal
entity, and authorized to do business, in each jurisdiction in which the character of its
properties or the nature of its business requires such qualification or authorization and where the
failure to be so qualified or authorized could reasonably be expected to have, in each instance, a
Material Adverse Effect.

(b) Ownership of Property Owners. Each of the Property Owners is a Wholly Owned
Subsidiary of the Borrower. Schedule 6.1.(b) sets forth for each Property Owner and Pledgor,
(i) the jurisdiction of organization of such Subsidiary, (ii) each Person holding any Equity
Interests in such Subsidiary, (iii) the nature of the Equity Interests held by each such Person,
and (iv) the percentage of ownership of such Subsidiary represented by such Equity Interests.
Except as disclosed in such Schedule, (i) the Borrower owns, free and clear of all Liens (other
than Permitted Liens), and has the unencumbered right to vote, all outstanding Equity Interests in
each Person shown to be held by it on such Schedule, and (ii)  there are no outstanding
subscriptions, options, warrants, commitments, preemptive rights or agreements of any kind
(including, without limitation, any stockholders’ or voting trust agreements) for the issuance,
sale, registration or voting of, or outstanding securities convertible into, any additional shares
of capital stock of any class, or partnership or other ownership interests of any type in, any such
Person.

(c) Authorization of Agreement, Etc. The Borrower has the right and power, and has
taken all necessary action to authorize it, to borrow and obtain other extensions of credit
hereunder. The Parent, the Borrower and each other Loan Party has the right and power, and has
taken all necessary action to authorize it, to execute, deliver and perform each of the Loan
Documents to which it is a party in accordance with their respective terms and to consummate the
transactions contemplated hereby and thereby. The Loan Documents to which the Parent, the Borrower
or any other Loan Party is a party have been duly executed and delivered by the duly authorized
officers of such Person and each is a legal, valid and binding obligation of such Person
enforceable against such Person in accordance with its respective terms except as the same may be
limited by bankruptcy, insolvency, and other similar laws affecting the rights of creditors
generally and the availability of equitable remedies for the enforcement of certain obligations
(other than the payment of principal) contained herein or therein and as may be limited by
equitable principles generally.

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(d) Compliance of Loan Documents with Laws, Etc. The execution, delivery and
performance of this Agreement, the Notes and the other Loan Documents to which the Parent, the
Borrower or any other Loan Party is a party in accordance with their respective terms and the
borrowings and other extensions of credit hereunder do not and will not, by the passage of time,
the giving of notice, or both: (i) require any Governmental Approval or violate any Applicable Law
(including all Environmental Laws) relating to the Parent, the Borrower or any other Loan Party;
(ii) conflict with, result in a breach of or constitute a default under the organizational
documents of the Parent, the Borrower or any other Loan Party, or any indenture, agreement or other
instrument to which the Parent, the Borrower or any other Loan Party is a party or by which it or
any of its respective properties may be bound; or (iii) result in or require the creation or
imposition of any Lien upon or with respect to any property now owned or hereafter acquired by the
Parent, the Borrower or any other Loan Party.

(e) Title to Properties; Liens. Each Property Owner has good, marketable and legal
title to the Bridge Loan Property owned by it. There are no Liens against any of the Collateral or
any Bridge Loan Property except for Permitted Liens.

(f) No Prohibited Transaction. Assuming that no Lender funds any amount payable by it
hereunder with “plan assets,” as that term is defined in 29 C.F.R. 2510.3-101, the execution,
delivery and performance of this Agreement and the other Loan Documents, and the borrowing and
repayment of amounts hereunder, do not and will not constitute “prohibited transactions” under
ERISA or the Internal Revenue Code.

(g) Broker’s Fees. No broker’s or finder’s fee, commission or similar compensation
will be payable with respect to the transactions contemplated hereby. No other similar fees or
commissions will be payable by any Loan Party for any other services rendered to the Parent, the
Borrower or any of the other Subsidiaries ancillary to the transactions contemplated hereby.

(h) Accuracy and Completeness of Information. No written information, report or other
papers or data (excluding financial projections and other forward looking statements) furnished to
the Agent or any Lender by, on behalf of, or at the direction of, the Parent, the Borrower, any
other Loan Party or any other Subsidiary in connection with, pursuant to or relating in any way to
this Agreement, contained, at the time furnished, any untrue statement of a fact material to the
creditworthiness of the Parent, the Borrower, any other Loan Party or any other Subsidiary or
omitted to state a material fact necessary in order to make such statements contained therein, in
light of the circumstances under which they were made, not misleading. All financial statements
(including in each case all related schedules and notes) furnished to the Agent or any Lender by,
on behalf of, or at the direction of, the Parent, the Borrower, any other Loan Party or any other
Subsidiary in connection with, pursuant to or relating in any way to this Agreement, present fairly
in all material respects, the financial position of the Persons involved as at the date thereof and
the results of operations for such periods and in accordance with GAAP consistently applied
throughout the periods involved (subject, as to interim statements, to changes resulting from
normal year-end audit adjustments). All financial projections and other forward looking statements
prepared by or on behalf of the Parent, the Borrower, any other Loan Party or any other Subsidiary
that have been or may hereafter be made available to the Agent or

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any Lender were or will be prepared in good faith based on reasonable assumptions. As of the
Effective Date, no fact is known to the Parent or the Borrower which has had, or may in the future
have (so far as the Parent or the Borrower can reasonably foresee), a Material Adverse Effect which
has not been set forth in the financial statements referred to in Section 7.1(k) of the Existing
Credit Agreement or in such information, reports or other papers or data or otherwise disclosed in
writing to the Agent and the Lenders.

(i) Properties. Each Bridge Loan Property (i) is wholly owned in fee simple by a
Property Owner, (ii) is a Storage Property, (iii) is located in one of the 48 contiguous states of
the United States of America or in the District of Columbia; (iv) is not subject to any Lien (other
than Permitted Liens described in clauses (a) through (e) of the definition thereof) or any
Negative Pledge, and (v) is free of all structural defects and major architectural deficiencies,
title defects, environmental conditions and other adverse matters except for defects, deficiencies,
conditions or other matters individually or collectively which are not material to the profitable
operation of such Property. The Borrower directly, or indirectly through a Subsidiary, has the
right to take the following actions with respect to each Bridge Loan Property without the need to
obtain the consent of any Person: (x) to create Liens on such Property as security for Indebtedness
of the Parent, the Borrower or such Subsidiary, and (y) to sell, transfer or otherwise dispose of
such Property.

(j) Security Interests and Liens. The Pledge Agreement creates, as security for the
Obligations, a valid and enforceable, perfected first priority security interest in and Lien on all
of the Collateral, in favor of the Agent for the benefit of the Lenders, and subject to no other
Liens other than Permitted Liens. Such security interest in and Lien on the Collateral shall be
superior to and prior to the rights of all third parties in the Collateral, and, other than in
connection with any future change in the name of the Borrower or a Pledgor or the location in which
the Borrower or a Pledgor is organized or registered, no further recordings or filings are or will
be required in connection with the creation, perfection or enforcement of such security interest
and Lien, other than the filing of continuation statements in accordance with Applicable Law.

(k) Existing Credit Agreement Representations. The Existing Credit Agreement
Representations are each true and correct.

	 	 	Section 6.2. Survival of Representations and Warranties, Etc.	 

All statements contained in any certificate, financial statement or other instrument delivered
by or on behalf of the Parent, the Borrower, any other Loan Party or any other Subsidiary to the
Agent or any Lender pursuant to or in connection with this Agreement or any of the other Loan
Documents (including, but not limited to, any such statement made in or in connection with any
amendment hereto or thereto or any statement contained in any certificate, financial statement or
other instrument delivered by or on behalf of the Parent and the Borrower prior to the Agreement
Date and delivered to the Agent or any Lender in connection with the underwriting or closing of the
transactions contemplated hereby) shall constitute representations and warranties made by the
Parent and the Borrower to the Agent and the Lenders under this Agreement. All representations
and warranties made under this Agreement and the other Loan Documents shall be deemed to be made at
and as of the Agreement Date, the Effective Date, the date on which any extension of the
Termination Date is effectuated pursuant to Section 2.9. and

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the date of the occurrence of any Credit Event, except to the extent that such representations and
warranties expressly relate solely to an earlier date (in which case such representations and
warranties shall have been true and correct in all material respects on and as of such earlier
date) and except for changes in factual circumstances not prohibited under the Loan Documents. All
such representations and warranties shall survive the effectiveness of this Agreement, the
execution and delivery of the Loan Documents and the making of the Loans.

Article VII. Covenants

For so long as this Agreement is in effect, unless the Requisite Lenders (or, if required
pursuant to Section 11.6., all of the Lenders) shall otherwise consent in the manner provided for
in Section 11.6., each of the Parent and the Borrower shall comply with the following covenants:

	 	 	Section 7.1. Use of Proceeds.	 

The Borrower shall only use the proceeds of the Term Loans to finance the Acquisition in
accordance with the terms of the Purchase Agreement and to pay costs and expenses related to the
Acquisition. No part of the proceeds of any Loan will be used (a) for the purpose of buying or
carrying “margin stock” within the meaning of Regulation U of the Board of Governors of the Federal
Reserve System or to extend credit to others for the purpose of purchasing or carrying any such
margin stock or (b) to fund any operations in, finance any investments or activities in, or make
any payments to, a Sanctioned Person or Sanctioned Entity.

	 	 	Section 7.2. Further Assurances.

The Parent and the Borrower shall, at their sole cost and expense and upon request of the
Agent, execute and deliver or cause to be executed and delivered, to the Agent such further
instruments, documents and certificates, and do and cause to be done such further acts that may be
reasonably necessary or advisable in the reasonable opinion of the Agent to carry out more
effectively the provisions and purposes of this Agreement and the other Loan Documents.

	 	 	Section 7.3. New Subsidiaries; Guarantors; Release of Guarantors.	 

(a) Requirement to Become Guarantor. At the time any Person becomes a Guarantor (as
defined in the Existing Credit Agreement) after the Effective Date, the Borrower shall cause to be
delivered to the Agent each of the following items, each in form and substance satisfactory to the
Agent: (i) an Accession Agreement executed by such Person and (ii) the items that would have been
delivered under Sections 5.1.(a)(v) through (ix) and (xvii) if such Person had been a Guarantor on
the Effective Date. The Borrower shall send to each Lender copies of each of the foregoing items
once the Agent has received all such items with respect to a Guarantor.

(b) Release of a Guarantor. The Borrower may request in writing that the Agent
release, and upon receipt of such request the Agent shall release, a Guarantor (other than the
Parent and any Pledgor) from the Guaranty so long as: (i) such Guarantor has been, or will be
simultaneously with its release from the Guaranty, released as a Guarantor (as defined in the
Exhibit Credit Agreement); (ii) no Default or Event of Default shall then be in existence or would
occur as a result of such release; (iii) the representations and warranties made or deemed

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made by the Parent, the Borrower and each other Loan Party in the Loan Documents to which any of
them is a party, shall be true and correct in all material respects on and as of the date of such
release with the same force and effect as if made on and as of such date except to the extent that
such representations and warranties expressly relate solely to an earlier date (in which case such
representations and warranties shall have been true and correct in all material respects on and as
of such earlier date) and except for changes in factual circumstances not prohibited under the Loan
Documents; and (iv) the Agent shall have received such written request at least 10 Business Days
prior to the requested date of release (or such shorter period as may be acceptable to the Agent in
its sole discretion). Delivery by the Borrower to the Agent of any such request shall constitute a
representation by the Borrower that the matters set forth in the preceding sentence (both as of the
date of the giving of such request and as of the date of the effectiveness of such request) are
true and correct with respect to such request.

	 	 	Section 7.4. Certain Covenants of Existing Credit Agreement.	 

The Parent and the Borrower will perform, comply with and be bound by, for the benefit of the
Agent and the Lenders, each of the Existing Credit Agreement Covenants, each of which (together
with the related definitions and ancillary provisions) is hereby incorporated herein by reference.

	 	 	Section 7.5. Indebtedness.	 

The Parent and the Borrower shall not permit any Pledgor or Property Owner to create, incur,
assume or suffer to exist any Indebtedness, other than Indebtedness under the Loan Documents.

	 	 	Section 7.6. Liens.	 

The Parent and the Borrower shall not permit any Pledgor or Property Owner to create, assume,
incur or permit to exist any Lien (other than Permitted Liens) upon any of its properties, assets,
income or profits of any character whether now owned or hereafter acquired, including without
limitation, the Bridge Loan Properties.

	 	 	Section 7.7. Sale of Bridge Loan Properties.	 

(a) No Sale. Except as provided in the immediately following subsection (b), the
Parent and the Borrower shall not permit any Property Owner to convey, sell, lease, sublease,
transfer or otherwise dispose of any interest of such Property Owner in any Bridge Loan Property
owned by it; provided, however, that a Property Owner may lease and sublease its Bridge Loan
Properties, as lessor or sublessor (as the case may be), in the ordinary course of their business.

(b) Release. From time to time the Borrower may request, upon not less than 10 days
prior written notice to the Agent (or such shorter period as may be acceptable to the Agent in its
sole discretion), that a Property Owner be permitted to sell a Bridge Loan Property or that a
Bridge Loan Property be otherwise released from being a “Bridge Loan Property”, which shall

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be permitted if the Agent determines that the following conditions are satisfied as of the date of
such release:

(i) No Default or Event of Default exists or will exist immediately after giving effect
to such release; and

(ii) The Borrower shall have repaid the outstanding principal balance of the Term Loans
by an amount at least equal to the Release Price for the Bridge Loan Property owned by such
Property Owner.

Article VIII. Information

For so long as this Agreement is in effect, unless the Requisite Lenders (or, if required
pursuant to Section 11.6., all of the Lenders) shall otherwise consent in the manner set forth in
Section 11.6., the Borrower shall cause to be furnished to each Lender (or to the Agent if so
provided below) at its Lending Office:

	 	 	Section 8.1. Compliance Certificate.	 

At the time financial statements are furnished pursuant to Sections 9.1. and 9.2. of the
Existing Credit Agreement, and within 5 Business Days of the Agent’s request with respect to any
other fiscal period, a certificate substantially in the form of Exhibit E (a “Compliance
Certificate”) executed by the chief financial officer, treasurer, or chief accounting officer of
the Parent: (a) setting forth in reasonable detail as at the end of such quarterly accounting
period, fiscal year, or other fiscal period, as the case may be, the calculations required to
establish whether or not the Borrower was in compliance with the covenants contained in
Sections 10.1., 10.2. and 10.4. of the Existing Credit Agreement and (b) stating that, to the best
of his or her knowledge, information and belief after due inquiry, no Default or Event of Default
exists, or, if such is not the case, specifying such Default or Event of Default and its nature,
when it occurred, whether it is continuing and the steps being taken by the Borrower with respect
to such event, condition or failure.

	 	 	Section 8.2. Other Information.	 

(a) Default. Notice of the occurrence of any Default or Event of Default promptly
upon a Responsible Officer of the Parent or the Borrower obtaining knowledge thereof; and

(b) Other Information. From time to time and promptly following upon each request,
such data, certificates, reports, statements, opinions of counsel, documents or further information
regarding the business, assets, liabilities, financial condition, results of operations or business
prospects of the Parent, the Borrower, any other Loan Party or any other Subsidiary as the Agent or
any Lender may reasonably request.

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Article IX. Default

	 	 	Section 9.1. Events of Default.	 

Each of the following shall constitute an Event of Default, whatever the reason for such event
and whether it shall be voluntary or involuntary or be effected by operation of Applicable Law or
pursuant to any judgment or order of any Governmental Authority:

(a) Default in Payment of Principal. The Borrower shall fail to pay when due (whether
upon demand, at maturity, by reason of acceleration or otherwise) the principal of any of the
Loans.

(b) Default in Payment of Interest and Other Obligations. The Borrower shall fail to
pay when due any interest on any of the Loans or any of the other payment Obligations owing by the
Borrower under this Agreement or any other Loan Document, or any other Loan Party shall fail to pay
when due any payment Obligation owing by such other Loan Party under any Loan Document to which it
is a party, and such failure shall continue for a period of 5 Business Days.

(c) Default in Performance. (i) The Parent or the Borrower shall fail to perform or
observe any term, covenant, condition or agreement contained in Section 7.5., 7.6., 7.7. or 8.2.(a)
or (ii) the Parent, the Borrower or any other Loan Party shall fail to perform or observe any term,
covenant, condition or agreement contained in this Agreement or any other Loan Document to which it
is a party and not otherwise mentioned in this Section and in the case of this clause (ii) only
such failure shall continue for a period of 30 days after the date upon which the Parent or the
Borrower has received written notice of such failure from the Agent.

(d) Misrepresentations. Any written statement, representation or warranty made or
deemed made by or on behalf of the Parent, the Borrower or any other Loan Party under this
Agreement or under any other Loan Document, or any amendment hereto or thereto, or in any other
writing or statement at any time furnished or made or deemed made by or on behalf of the Parent,
the Borrower or any other Loan Party to the Agent or any Lender, shall at any time prove to have
been incorrect or misleading, in light of the circumstances in which made or deemed made, in any
material respect when furnished or made or deemed made.

(e) Voluntary Bankruptcy Proceeding. The Parent, the Borrower, any other Loan Party,
or any Excluded Subsidiary that is a Significant Subsidiary shall: (i) commence a voluntary case
under the Bankruptcy Code of 1978, as amended, or other federal bankruptcy laws (as now or
hereafter in effect); (ii) file a petition seeking to take advantage of any other Applicable Laws,
domestic or foreign, relating to bankruptcy, insolvency, reorganization, winding-up, or composition
or adjustment of debts; (iii) consent to, or fail to contest in a timely and appropriate manner,
any petition filed against it in an involuntary case under such bankruptcy laws or other Applicable
Laws or consent to any proceeding or action described in the immediately following subsection;
(iv) apply for or consent to, or fail to contest in a timely and appropriate manner, the
appointment of, or the taking of possession by, a receiver, custodian, trustee, or liquidator of
itself or of a substantial part of its property, domestic or foreign; (v) admit in writing its
inability to pay its debts as they become due; (vi) make a general assignment for the benefit of
creditors; (vii) make a conveyance fraudulent as to creditors under

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any Applicable Law; or (viii) take any corporate or partnership action for the purpose of effecting
any of the foregoing.

(f) Involuntary Bankruptcy Proceeding. A case or other proceeding shall be commenced
against the Parent, the Borrower, any other Loan Party, or any Excluded Subsidiary that is a
Significant Subsidiary in any court of competent jurisdiction seeking: (i) relief under the
Bankruptcy Code of 1978, as amended, or other federal bankruptcy laws (as now or hereafter in
effect) or under any other Applicable Laws, domestic or foreign, relating to bankruptcy,
insolvency, reorganization, winding-up, or composition or adjustment of debts; or (ii) the
appointment of a trustee, receiver, custodian, liquidator or the like of such Person, or of all or
any substantial part of the assets, domestic or foreign, of such Person, and such case or
proceeding shall continue undismissed or unstayed for a period of 60 consecutive calendar days, or
an order granting the remedy or other relief requested in such case or proceeding against such
Person (including, but not limited to, an order for relief under such Bankruptcy Code or such other
federal bankruptcy laws) shall be entered.

(g) Litigation; Enforceability. The Parent, the Borrower or any other Loan Party
shall disavow, revoke or terminate (or attempt to terminate) any Loan Document to which it is a
party or shall otherwise challenge or contest in any action, suit or proceeding in any court or
before any Governmental Authority the validity or enforceability of this Agreement, or any other
Loan Document or this Agreement or any other Loan Document shall cease to be in full force and
effect (except as a result of the express terms thereof).

(h) Loan Documents. An Event of Default (as defined therein) shall occur under any of
the other Loan Documents.

(i) Existing Credit Agreement Default. An Existing Credit Agreement Default (each
Existing Credit Agreement Default being hereby incorporated herein by reference) shall occur.

(j) Failure of Security. The Agent shall cease to have a valid and perfected first
priority security interest in any of the Collateral for any reason other than the failure of the
Agent to take any action within its control.

	 	 	Section 9.2. Remedies Upon Event of Default.	 

Upon the occurrence of an Event of Default the following provisions shall apply:

(a) Acceleration; Termination of Facilities.

(i) Automatic. Upon the occurrence of an Event of Default specified in
Section 9.1.(e) or 9.1.(f), (A) the principal of, and all accrued interest on, the Loans and
the Notes at the time outstanding and (B) all of the other Obligations of the Borrower,
including, but not limited to, the other amounts owed to the Lenders and the Agent under
this Agreement, the Notes or any of the other Loan Documents shall become immediately and
automatically due and payable by the Borrower without presentment, demand, protest, or other
notice of any kind, all of which are expressly waived by the Borrower.

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(ii) Optional. If any other Event of Default shall exist, the Agent shall, at
the direction of the Requisite Lenders declare (A) the principal of, and accrued interest
on, the Loans and the Notes at the time outstanding and (B) all of the other Obligations,
including, but not limited to, the other amounts owed to the Lenders and the Agent under
this Agreement, the Notes or any of the other Loan Documents to be forthwith due and
payable, whereupon the same shall immediately become due and payable without presentment,
demand, protest or other notice of any kind, all of which are expressly waived by the
Borrower.

(b) Loan Documents. The Requisite Lenders may direct the Agent to, and the Agent if
so directed shall, exercise any and all of its rights under any and all of the other Loan
Documents.

(c) Applicable Law. The Requisite Lenders may direct the Agent to, and the Agent if
so directed shall, exercise all other rights and remedies it may have under any Applicable Law.

(d) Appointment of Receiver. To the extent permitted by Applicable Law, the Agent and
the Lenders shall be entitled to the appointment of a receiver for the assets and properties of the
Borrower and its Subsidiaries, without notice of any kind whatsoever and without regard to the
adequacy of any security for the Obligations or the solvency of any party bound for its payment, to
take possession of all or any portion of the business operations of the Borrower and its
Subsidiaries and to exercise such power as the court shall confer upon such receiver.

	 	 	Section 9.3. Allocation of Proceeds.

If an Event of Default shall exist and maturity of any of the Obligations has been
accelerated, all payments received by the Agent under any of the Loan Documents, in respect of any
principal of or interest on the Obligations or any other amounts payable by the Borrower hereunder
or thereunder, shall be applied in the following order and priority:

(a) amounts due the Agent in respect of fees and expenses due under Section 11.2.;

(b) amounts due the Lenders in respect of fees and expenses due under Section 11.2.,
pro rata in the amount then due each Lender;

(c) payments of interest on all Loans, to be applied for the ratable benefit of the
Lenders;

(d) payments of principal of all Loans, to be applied for the ratable benefit of the
Lenders;

(e) amounts due the Agent and the Lenders pursuant to Sections 10.8. and 11.9.;

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(f) payment of all other Obligations and other amounts due and owing by the Borrower
and the other Loan Parties under any of the Loan Documents, if any, to be applied for the
ratable benefit of the Lenders; and

(g) any amount remaining after application as provided above, shall be paid to the
Borrower or whomever else may be legally entitled thereto.

	 	 	Section 9.4. Performance by Agent.	 

If the Borrower shall fail to perform any covenant, duty or agreement contained in any of the
Loan Documents, the Agent may, after notice to the Borrower, perform or attempt to perform such
covenant, duty or agreement on behalf of the Borrower after the expiration of any cure or grace
periods set forth herein. In such event, the Borrower shall, at the request of the Agent, promptly
pay any amount reasonably expended by the Agent in such performance or attempted performance to the
Agent, together with interest thereon at the applicable Post-Default Rate from the date of such
expenditure until paid. Notwithstanding the foregoing, neither the Agent nor any Lender shall have
any liability or responsibility whatsoever for the performance of any obligation of the Borrower
under this Agreement or any other Loan Document.

	 	 	Section 9.5. Rights Cumulative.	 

The rights and remedies of the Agent and the Lenders under this Agreement and each of the
other Loan Documents shall be cumulative and not exclusive of any rights or remedies which any of
them may otherwise have under Applicable Law. In exercising their respective rights and remedies
the Agent and the Lenders may be selective and no failure or delay by the Agent or any of the
Lenders in exercising any right shall operate as a waiver of it, nor shall any single or partial
exercise of any power or right preclude its other or further exercise or the exercise of any other
power or right.

Article X. The Agent

	 	 	Section 10.1. Authorization and Action.	 

Each Lender hereby appoints and authorizes the Agent to take such action as contractual
representative on such Lender’s behalf and to exercise such powers under this Agreement and the
other Loan Documents as are specifically delegated to the Agent by the terms hereof and thereof,
together with such powers as are reasonably incidental thereto. Not in limitation of the
foregoing, each Lender authorizes and directs the Agent to enter into the Loan Documents for the
benefit of the Lenders. Each Lender hereby agrees that, except as otherwise set forth herein, any
action taken by the Requisite Lenders in accordance with the provisions of this Agreement or the
Loan Documents, and the exercise by the Requisite 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. Nothing herein shall be construed to deem the Agent a trustee
or fiduciary for any Lender or to impose on the Agent duties or obligations other than those
expressly provided for herein. At the request of a Lender, the Agent will forward to such Lender
copies or, where appropriate, originals of the documents delivered to the Agent pursuant to this
Agreement or the other Loan Documents. The Agent will also furnish to any Lender,

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upon the request of such Lender, a copy of any certificate or notice furnished to the Agent by the
Borrower, any other Loan Party or any other Affiliate of the Borrower, pursuant to this Agreement
or any other Loan Document not already delivered to such Lender pursuant to the terms of this
Agreement or any such other Loan Document. As to any matters not expressly provided for by the
Loan Documents (including, without limitation, enforcement or collection of any of the
Obligations), the Agent shall not be required to exercise any discretion or take any action, but
shall be required to act or to refrain from acting (and shall be fully protected in so acting or
refraining from acting) upon the instructions of the Requisite Lenders (or all of the Lenders if
explicitly required under any other provision of this Agreement), and such instructions shall be
binding upon all Lenders and all holders of any of the Obligations; provided, however, that,
notwithstanding anything in this Agreement to the contrary, the Agent shall not be required to take
any action which exposes the Agent to personal liability or which is contrary to this Agreement or
any other Loan Document or Applicable Law. Not in limitation of the foregoing, the Agent shall not
exercise any right or remedy it or the Lenders may have under any Loan Document upon the occurrence
of a Default or an Event of Default unless the Requisite Lenders (or all of the Lenders if
explicitly required under any provision of this Agreement) have so directed the Agent to exercise
such right or remedy.

	 	 	Section 10.2. Agent’s Reliance, Etc.	 

Notwithstanding any other provisions of this Agreement or any other Loan Documents, neither
the Agent nor any of its directors, officers, agents, employees or counsel shall be liable for any
action taken or omitted to be taken by it or them under or in connection with this Agreement or any
other Loan Document, except for its or their own gross negligence or willful misconduct as
determined by a court of competent jurisdiction in a final, non-appealable judgment. Without
limiting the generality of the foregoing, the Agent: (a) may treat the payee of any Note as the
holder thereof until the Agent receives written notice of the assignment or transfer thereof signed
by such payee and in form satisfactory to the Agent; (b) may consult with legal counsel (including
its own counsel or counsel for the Borrower or any other Loan Party), independent public
accountants and other experts selected by it and shall not be liable for any action taken or
omitted to be taken in good faith by it in accordance with the advice of such counsel, accountants
or experts; (c) makes no warranty or representation to any Lender or any other Person and shall not
be responsible to any Lender or any other Person for any statements, warranties or representations
made by any Person in or in connection with this Agreement or any other Loan Document; (d) shall
not have any duty to ascertain or to inquire as to the performance or observance of any of the
terms, covenants or conditions of any of this Agreement or any other Loan Document or the
satisfaction of any conditions precedent under this Agreement or any Loan Document on the part of
the Borrower or other Persons or inspect the property, books or records of the Borrower or any
other Person; (e) shall not be responsible to any Lender for the due execution, legality, validity,
enforceability, genuineness, sufficiency or value of this Agreement or any other Loan Document, any
other instrument or document furnished pursuant thereto or any collateral covered thereby or the
perfection or priority of any Lien in favor of the Agent on behalf of the Lenders in any such
collateral; and (f) shall incur no liability under or in respect of this Agreement or any other
Loan Document by acting upon any notice, consent, certificate or other instrument or writing (which
may be by telephone or telecopy) believed by it to be genuine and signed, sent or given by the
proper party or parties.

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	 	 	Section 10.3. Notice of Defaults.	 

The Agent shall not be deemed to have knowledge or notice of the occurrence of a Default or
Event of Default unless the Agent has received notice from a Lender or the Borrower referring to
this Agreement, describing with reasonable specificity such Default or Event of Default and stating
that such notice is a “notice of default.” If any Lender (excluding the Lender which is also
serving as the Agent) becomes aware of any Default or Event of Default, it shall promptly send to
the Agent such a “notice of default.” Further, if the Agent receives such a “notice of default”,
the Agent shall give prompt notice thereof to the Lenders.

	 	 	Section 10.4. Agent as Lender.	 

The Lender acting as Agent shall have the same rights and powers under this Agreement and any
other Loan Document as any other Lender and may exercise the same as though it were not the Agent;
and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated, include the Lender
then acting as Agent in each case in its individual capacity. Such Lender and its affiliates may
each accept deposits from, maintain deposits or credit balances for, invest in, lend money to, act
as trustee under indentures of, serve as financial advisor to, and generally engage in any kind of
business with, the Borrower, any other Loan Party or any other affiliate thereof as if it were any
other bank and without any duty to account therefor to the other Lenders. Further, such Lender and
any affiliate may accept fees and other consideration from the Borrower for services in connection
with this Agreement and otherwise without having to account for the same to the other Lenders. The
Lenders acknowledge that, pursuant to such activities, the Lender acting as Agent or its affiliates
may receive information regarding the Borrower, other Loan Parties, other Subsidiaries and other
Affiliates (including information that may be subject to confidentiality obligations in favor of
such Person) and acknowledge that the Agent shall be under no obligation to provide such
information to them.

	 	 	Section 10.5. Approvals of Lenders.	 

All communications from the Agent to any Lender requesting such Lender’s determination,
consent, approval or disapproval (a) shall be given in the form of a written notice to such Lender,
(b) shall be accompanied by a description of the matter or issue as to which such determination,
approval, consent or disapproval is requested, or shall advise such Lender where information, if
any, regarding such matter or issue may be inspected, or shall otherwise describe the matter or
issue to be resolved, (c) shall include, if reasonably requested by such Lender and to the extent
not previously provided to such Lender, written materials and, as appropriate, a brief summary of
all oral information provided to the Agent by the Borrower in respect of the matter or issue to be
resolved, and (d) shall include the Agent’s recommended course of action or determination in
respect thereof. Each Lender shall reply promptly, but in any event within 10 Business Days (or
such lesser or greater period as may be specifically required under the Loan Documents) of receipt
of such communication. Except as otherwise provided in this Agreement, unless a Lender shall give
written notice to the Agent that it specifically objects to the recommendation or determination of
the Agent (together with a written explanation of the reasons behind such objection) within the
applicable time period for reply, such Lender shall be deemed to have conclusively approved of or
consented to such recommendation or determination.

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	 	 	Section 10.6. Lender Credit Decision, Etc.	 

Each Lender expressly acknowledges and agrees that neither the Agent nor any of its officers,
directors, employees, agents, counsel, attorneys-in-fact or other affiliates has made any
representations or warranties as to the financial condition, operations, creditworthiness, solvency
or other information concerning the business or affairs of the Borrower, any other Loan Party, any
Subsidiary or any other Person to such Lender and that no act by the Agent hereafter taken,
including any review of the affairs of the Borrower, any other Loan Party or any other Subsidiary,
shall be deemed to constitute any such representation or warranty by the Agent to any Lender. Each
Lender acknowledges that it has made its own credit and legal analysis and decision to enter into
this Agreement and the transactions contemplated hereby, independently and without reliance upon
the Agent, any other Lender or counsel to the Agent, or any of their respective officers,
directors, employees and agents, and based on the financial statements of the Borrower, the
Subsidiaries or any other Affiliate thereof, and inquiries of such Persons, its independent due
diligence of the business and affairs of the Borrower, the other Loan Parties, the Subsidiaries and
other Persons, its review of the Loan Documents, the legal opinions required to be delivered to it
hereunder, the advice of its own counsel and such other documents and information as it has deemed
appropriate. Each Lender also acknowledges that it will, independently and without reliance upon
the Agent, any other Lender or counsel to the Agent or any of their respective officers, directors,
employees and agents, and based on such review, advice, documents and information as it shall deem
appropriate at the time, continue to make its own decisions in taking or not taking action under
the Loan Documents. Except for notices, reports and other documents and information expressly
required to be furnished to the Lenders by the Agent under this Agreement or any of the other Loan
Documents, the Agent shall have no duty or responsibility to provide any Lender with any credit or
other information concerning the business, operations, property, financial and other condition or
creditworthiness of the Borrower, any other Loan Party or any other Affiliate thereof which may
come into possession of the Agent, or any of its officers, directors, employees, agents,
attorneys-in-fact or other affiliates. Each Lender acknowledges that the Agent’s legal counsel in
connection with the transactions contemplated by this Agreement is only acting as counsel to the
Agent and is not acting as counsel to such Lender.

	 	 	Section 10.7. Collateral Matters.	 

(a) The Agent is authorized 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 Loan Documents which may be necessary to perfect
and maintain perfected the Liens upon the Collateral granted pursuant to any of the Loan Documents.

(b) The Lenders hereby authorize the Agent, at its option and in its discretion, to release
any Lien granted to or held by the Agent upon any Collateral (i) upon termination of this Agreement
in accordance with Section 11.10.; or (ii) as required or permitted by Section 7.7. Upon request
by the Agent at any time, the Lenders will confirm in writing the Agent’s authority to release
particular types or items of Collateral pursuant to this Section or any other applicable provision
of any of the other Loan Documents.

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(c) Upon any sale and transfer of Collateral which is expressly permitted pursuant to the
terms of this Agreement, the Agent shall (and is hereby irrevocably authorized by all of the
Lenders to) execute such documents as may be necessary to evidence the release of the Liens granted
to the Agent for the benefit of the Lenders herein or pursuant hereto upon the Collateral that was
sold or transferred; provided, however, that (i) the Agent shall not be required to execute any
such document on terms which, in the Agent’s opinion, would expose the Agent to liability or create
any obligation or entail any consequence other than the release of such Liens without recourse or
warranty; and (ii) such release shall not in any manner discharge, affect or impair the Obligations
or any Liens upon (or obligations of the Borrower or any Loan Party in respect of) all interests
retained by the Borrower or any Subsidiary, including (without limitation) the proceeds of the
sale, all of which shall continue to constitute part of the Collateral. In the event of any sale
or transfer of Collateral, or any foreclosure with respect to any of the Collateral, the Agent
shall be authorized to deduct all of the expenses reasonably incurred by the Agent from the
proceeds of any such sale, transfer or foreclosure.

(d) The Agent shall have no obligation whatsoever to the Lenders or to 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 Agent herein or pursuant hereto 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 Agent in this Section or in any of the Loan Documents, it being understood and agreed that
in respect of the Collateral, or any act, omission or event related thereto, the Agent may act in
any manner it may deem appropriate, in its sole discretion, given the Agent’s own interest in the
Collateral as one of the Lenders and that the Agent shall have no duty or liability whatsoever to
the Lenders, except to the extent found in a final non-appealable judgment by a court of competent
jurisdiction to have resulted from the Agent’s gross negligence or willful misconduct.

	 	 	Section 10.8. Indemnification of Agent.	 

Each Lender agrees to indemnify the Agent (to the extent not reimbursed by the Borrower and
without limiting the obligation of the Borrower to do so) pro rata in accordance with such Lender’s
respective Pro Rata Share, from and against any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, reasonable out-of-pocket costs and expenses, or disbursements
of any kind or nature whatsoever which may at any time be imposed on, incurred by, or asserted
against the Agent (in its capacity as Agent but not as a Lender) in any way relating to or arising
out of the Loan Documents, any transaction contemplated hereby or thereby or any action taken or
omitted by the Agent under the Loan Documents (collectively, “Indemnifiable Amounts”); provided,
however, that no Lender shall be liable for any portion of such Indemnifiable Amounts to the extent
resulting from the Agent’s gross negligence or willful misconduct as determined by a court of
competent jurisdiction in a final, non-appealable judgment or if the Agent fails to follow the
written direction of the Requisite Lenders (or all of the Lenders if expressly required hereunder)
unless such failure results from the Agent following the advice of counsel to the Agent of which
advice the Lenders have received notice. Without limiting the generality of the foregoing but
subject to the preceding proviso, each Lender agrees to reimburse the Agent (to the extent not
reimbursed by

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the Borrower and without limiting the obligation of the Borrower to do so), promptly upon demand
for its ratable share of any out-of-pocket expenses (including counsel fees of the counsel(s) of
the Agent’s own choosing) incurred by the Agent in connection with the preparation, negotiation,
execution, or enforcement of, or legal advice with respect to the rights or responsibilities of the
parties under, the Loan Documents, any suit or action brought by the Agent to enforce the terms of
the Loan Documents and/or collect any Obligations, any “lender liability” suit or claim brought
against the Agent and/or the Lenders, and any claim or suit brought against the Agent, and/or the
Lenders arising under any Environmental Laws. Such out-of-pocket expenses (including counsel fees)
shall be advanced by the Lenders on the request of the Agent notwithstanding any claim or assertion
that the Agent is not entitled to indemnification hereunder upon receipt of an undertaking by the
Agent that the Agent will reimburse the Lenders if it is actually and finally determined by a court
of competent jurisdiction that the Agent is not so entitled to indemnification. The agreements in
this Section shall survive the payment of the Loans and all other amounts payable hereunder or
under the other Loan Documents and the termination of this Agreement. If the Borrower shall
reimburse the Agent for any Indemnifiable Amount following payment by any Lender to the Agent in
respect of such Indemnifiable Amount pursuant to this Section, the Agent shall share such
reimbursement on a ratable basis with each Lender making any such payment.

	 	 	Section 10.9. Successor Agent.	 

The Agent may resign at any time as Agent under the Loan Documents by giving written notice
thereof to the Lenders and the Borrower. The Agent may be removed as Agent under the Loan
Documents for good cause by all of the Lenders (other than the Lender then acting as Agent) upon
30-days’ prior written notice to the Agent. Upon any such resignation or removal, the Requisite
Lenders (other than the Lender then acting as Agent, in the case of the removal of the Agent under
the immediately preceding sentence) shall have the right to appoint a successor Agent which
appointment shall, provided no Default or Event of Default exists, be subject to the Borrower’s
approval, which approval shall not be unreasonably withheld or delayed (except that the Borrower
shall, in all events, be deemed to have approved each Lender and its affiliates as a successor
Agent). If no successor Agent shall have been so appointed in accordance with the immediately
preceding sentence, and shall have accepted such appointment, within 30 days after the resigning
Agent’s giving of notice of resignation or the Lenders’ removal of the resigning Agent, then the
resigning or removed Agent may, on behalf of the Lenders, appoint a successor Agent, which shall be
a Lender, if any Lender shall be willing to serve, and otherwise shall be a commercial bank having
total combined assets of at least $50,000,000,000. Upon the acceptance of any appointment as Agent
hereunder by a successor Agent, such successor Agent shall thereupon succeed to and become vested
with all the rights, powers, privileges and duties of the retiring or removed Agent, and the
retiring or removed Agent shall be discharged from its duties and obligations under the Loan
Documents. After any Agent’s resignation or removal hereunder as Agent, the provisions of this
Article X. shall continue to inure to its benefit as to any actions taken or omitted to be taken by
it while it was Agent under the Loan Documents.

	 	 	Section 10.10. Titled Agents.	 

Each of the Titled Agents in each such respective capacity, assumes no responsibility or
obligation hereunder, including, without limitation, for servicing, enforcement or collection of

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any of the Loans, or for any duties as an agent hereunder for the Lenders. The titles of “Lead
Arranger” and “Book Manager” are solely honorific and imply no fiduciary responsibility on the part
of the Titled Agents to the Agent, the Borrower or any Lender and the use of such titles does not
impose on the Titled Agents any duties or obligations greater than those of any other Lender or
entitle the Titled Agents to any rights other than those to which any other Lender is entitled.

Article XI. Miscellaneous

	 	 	Section 11.1. Notices.	 

Unless otherwise provided herein, communications provided for hereunder shall be in writing
and shall be mailed, telecopied or delivered as follows:

If to the Borrower:

U-Store-It, L.P.

c/o U-Store-It Trust

460 Swedesford Road

Wayne, PA 19087

Attn: Chief Financial Officer

Telephone: (610) 293-5700

Telecopy: (610) 293-5720

with a copy to:

U-Store-It, L.P.

c/o U-Store-It Trust

50 Public Square, Suite 2800

Cleveland, OH  44113

Attn: General Counsel and Secretary

Telephone: (216) 274-1345

Telecopy: (216) 274-1372

If to the Agent:

Wachovia Bank, National Association

One Wachovia Center

301 South College Street

Charlotte, North Carolina 28288

Attn: Rex E. Rudy

Telephone: (704) 383-6506

Telecopy: (704) 383-6205

If to a Lender:

To such Lender’s address or telecopy number, as applicable, set forth in its Administrative Details
Form;

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or, as to each party at such other address as shall be designated by such party in a written notice
to the other parties delivered in compliance with this Section. All such notices and other
communications shall be effective (i) if mailed, when received; (ii) if telecopied, when
transmitted; or (iii) if hand delivered or sent by overnight courier, when delivered.
Notwithstanding the immediately preceding sentence, all notices or communications to the Agent or
any Lender under Article II. shall be effective only when actually received. Neither the Agent nor
any Lender shall incur any liability to any Loan Party (nor shall the Agent incur any liability to
the Lenders) for acting upon any telephonic notice referred to in this Agreement which the Agent or
such Lender, as the case may be, believes in good faith to have been given by a Person authorized
to deliver such notice or for otherwise acting in good faith hereunder. Failure of a Person
designated to get a copy of a notice to receive such copy shall not affect the validity of notice
properly given to any other Person.

	 	 	Section 11.2. Expenses.	 

The Borrower agrees (a) to pay or reimburse the Agent for all of its reasonable out-of-pocket
costs and expenses incurred in connection with the preparation, negotiation and execution of, and
any amendment, supplement or modification to, any of the Loan Documents (including due diligence
expenses and travel expenses relating to closing), and the consummation of the transactions
contemplated thereby, including the reasonable fees and disbursements of counsel to the Agent and
costs and expenses in connection with the use of IntraLinks, Inc., SyndTrak or other similar
information transmission systems in connection with the Loan Documents, (b) to pay or reimburse the
Agent and the Lenders for all their reasonable costs and expenses incurred in connection with the
enforcement or preservation of any rights under the Loan Documents, including the reasonable fees
and disbursements of their respective counsel (including the allocated fees and expenses of
in-house counsel) and any payments in indemnification or otherwise payable by the Lenders to the
Agent pursuant to the Loan Documents, (c) to pay, and indemnify and hold harmless the Agent and the
Lenders from, any and all recording and filing fees and any and all liabilities with respect to, or
resulting from any failure to pay or delay in paying, documentary, stamp, excise and other similar
taxes, if any, which may be payable or determined to be payable in connection with the execution
and delivery of any of the Loan Documents, or consummation of any amendment, supplement or
modification of, or any waiver or consent under or in respect of, any Loan Document and (d) to the
extent not already covered by any of the preceding subsections, to pay or reimburse the Agent and
the Lenders for all their costs and expenses incurred in connection with any bankruptcy or other
proceeding of the type described in Section 9.1.(e) or 9.1.(f), including the reasonable fees and
disbursements of counsel to the Agent and any Lender, whether such fees and expenses are incurred
prior to, during or after the commencement of such proceeding or the confirmation or conclusion of
any such proceeding. If the Borrower shall fail to pay any amounts required to be paid by it
pursuant to this Section, the Agent and/or the Lenders may pay such amounts on behalf of the
Borrower and either deem the same to be Loans outstanding hereunder or otherwise Obligations owing
hereunder.

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	 	 	Section 11.3. Setoff.	 

Subject to Section 3.3. and in addition to any rights now or hereafter granted under
Applicable Law and not by way of limitation of any such rights, the Borrower hereby authorizes the
Agent, each Lender, and each affiliate of the Agent or any Lender, at any time while an Event of
Default exists, without prior notice to the Borrower or to any other Person, any such notice being
hereby expressly waived, but in the case of a Lender or an affiliate of a Lender subject to receipt
of the prior written consent of the Agent exercised in its sole discretion, to set off and to
appropriate and to apply any and all deposits (general or special, including, but not limited to,
indebtedness evidenced by certificates of deposit, whether matured or unmatured) and any other
indebtedness at any time held or owing by the Agent, such Lender or any such affiliate of the Agent
or such Lender, to or for the credit or the account of the Borrower against and on account of any
of the Obligations, irrespective of whether or not any or all of the Loans and all other
Obligations have been declared to be, or have otherwise become, due and payable as permitted by
Section 9.2., and although such obligations shall be contingent or unmatured.

	 	 	Section 11.4. Litigation; Jurisdiction; Other Matters; Waivers.	 

(a) EACH PARTY HERETO ACKNOWLEDGES THAT ANY DISPUTE OR CONTROVERSY BETWEEN OR AMONG THE
BORROWER, THE AGENT OR ANY OF THE LENDERS WOULD BE BASED ON DIFFICULT AND COMPLEX ISSUES OF LAW AND
FACT AND WOULD RESULT IN DELAY AND EXPENSE TO THE PARTIES. ACCORDINGLY, TO THE EXTENT PERMITTED BY
APPLICABLE LAW, EACH OF THE LENDERS, THE AGENT AND THE BORROWER HEREBY WAIVES ITS RIGHT TO A TRIAL
BY JURY IN ANY ACTION OR PROCEEDING OF ANY KIND OR NATURE IN ANY COURT OR TRIBUNAL IN WHICH AN
ACTION MAY BE COMMENCED BY OR AGAINST ANY PARTY HERETO ARISING OUT OF THIS AGREEMENT, THE NOTES, OR
ANY OTHER LOAN DOCUMENT OR BY REASON OF ANY OTHER SUIT, CAUSE OF ACTION OR DISPUTE WHATSOEVER
BETWEEN OR AMONG THE BORROWER, THE AGENT OR ANY OF THE LENDERS OF ANY KIND OR NATURE RELATING TO
ANY OF THE LOAN DOCUMENTS.

(b) EACH OF THE BORROWER, THE AGENT AND EACH LENDER HEREBY AGREES THAT ANY FEDERAL DISTRICT
COURT AND ANY STATE COURT LOCATED IN CHARLOTTE, NORTH CAROLINA, SHALL HAVE JURISDICTION TO HEAR AND
DETERMINE ANY CLAIMS OR DISPUTES BETWEEN OR AMONG THE BORROWER, THE AGENT OR ANY OF THE LENDERS,
PERTAINING DIRECTLY OR INDIRECTLY TO THIS AGREEMENT, THE LOANS, THE NOTES OR ANY OTHER LOAN
DOCUMENT OR TO ANY MATTER ARISING HEREFROM OR THEREFROM. THE BORROWER AND EACH OF THE LENDERS
EXPRESSLY SUBMIT AND CONSENT IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR PROCEEDING COMMENCED
IN SUCH COURTS WITH RESPECT TO SUCH CLAIMS OR DISPUTES. EACH PARTY FURTHER WAIVES ANY OBJECTION
THAT IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT
OR THAT SUCH ACTION OR PROCEEDING WAS BROUGHT IN AN INCONVENIENT FORUM, AND EACH AGREES NOT TO
PLEAD OR CLAIM THE SAME. THE CHOICE OF FORUM SET FORTH IN THIS SECTION SHALL NOT BE

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DEEMED TO PRECLUDE THE BRINGING OF ANY ACTION BY ANY PARTY OR THE ENFORCEMENT BY ANY PARTY OF ANY
JUDGMENT OBTAINED IN SUCH FORUM IN ANY OTHER APPROPRIATE JURISDICTION.

(c) THE PROVISIONS OF THIS SECTION HAVE BEEN CONSIDERED BY EACH PARTY WITH THE ADVICE OF
COUNSEL AND WITH A FULL UNDERSTANDING OF THE LEGAL CONSEQUENCES THEREOF, AND SHALL SURVIVE THE
PAYMENT OF THE LOANS AND ALL OTHER AMOUNTS PAYABLE HEREUNDER OR UNDER THE OTHER LOAN DOCUMENTS, AND
THE TERMINATION OF THIS AGREEMENT.

	 	 	Section 11.5. Successors and Assigns.	 

(a) 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 the Borrower may not assign or otherwise transfer any of its
rights or obligations hereunder without the prior written consent of the Agent and each Lender and
no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to
an Eligible Assignee in accordance with the provisions of the immediately following subsection (b),
(ii) by way of participation in accordance with the provisions of the immediately following
subsection (d) or (iii) by way of pledge or assignment of a security interest subject to the
restrictions of the immediately following subsection (f) (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 the
immediately following subsection (d) and, to the extent expressly contemplated hereby, the
affiliates and the partners, directors, officers, employees, agents and advisors of the Agent and
the Lenders and of their respective affiliates) any legal or equitable right, remedy or claim under
or by reason of this Agreement.

(b) Assignments by Lenders. Any Lender may at any time assign to one or more
assignees (an “Assignee”) all or a portion of its rights and obligations under this Agreement
(including all or a portion of the Term Loan 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 outstanding principal amount of
the Term Loan at the time owing to it or in the case of an assignment to a Lender,
an affiliate of a Lender or an Approved Fund, no minimum amount need be assigned;
and

(B) in any case not described in the immediately preceding subsection (A), the
aggregate Term Loan of such Lender (in each case determined as of the date the
Assignment and Acceptance Agreement with respect to such assignment is delivered to
the Agent or, if “Trade Date” is specified in the Assignment and Acceptance
Agreement, as of the Trade Date) shall not be less

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52

than $1,000,000, unless each of the Agent and, so long as no Default or Event of
Default shall exist, the Borrower otherwise consents (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 Term Loan assigned.

(iii) Required Consents. No consent shall be required for any assignment
except to the extent required by clause (i)(B) of this subsection (b) and, in addition:

(A) the consent of the Borrower (such consent not to be unreasonably withheld
or delayed) shall be required unless (x) a Default or Event of Default shall exist
at the time of such assignment or (y) such assignment is to a Lender, an affiliate
of a Lender or an Approved Fund; and

(B) the consent of the Agent (such consent not to be unreasonably withheld or
delayed) shall be required for assignments in respect of a Term Loan if such
assignment is to a Person that is not already a Lender, an affiliate of a Lender or
an Approved Fund.

(iv) Assignment and Acceptance. The parties to each assignment shall execute
and deliver to the Agent an Assignment and Acceptance, together with a processing and
recordation fee of $3,500 payable by Assignor or Assignee as determined by such parties for
each assignment, and the assignee, if it is not a Lender, shall deliver to the Agent an
administrative questionnaire in the form customarily required by the Agent.

(v) No Assignment to Borrower. No such assignment shall be made to the
Borrower or any of the Borrower’s Affiliates or Subsidiaries.

(vi) No Assignment to Natural Persons. No such assignment shall be made to a
natural person.

Subject to acceptance and recording thereof by the Agent pursuant to the immediately following
subsection (c), from and after the effective date specified in each Assignment and Acceptance, the
assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned
by such Assignment and Acceptance, 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 Acceptance, be released from its obligations under this Agreement (and, in the
case of an Assignment and Acceptance 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 4.4., 11.2. and 11.9. and the other provisions of this
Agreement and the other Loan Documents as provided in Section 11.10. with respect to facts and
circumstances occurring prior to the effective date of such assignment. Any assignment or transfer
by a Lender of rights or obligations under this Agreement that does not comply with this paragraph
shall be treated for purposes of this Agreement as a sale by such Lender of a

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53

participation in such rights and obligations in accordance with the immediately following
subsection (d).

(c) Register. The Agent, acting solely for this purpose as an agent of the Borrower,
shall maintain at the Principal Office a copy of each Assignment and Acceptance delivered to it and
a register for the recordation of the names and addresses of the Lenders, and the principal amount
of the Term Loan owing to each Lender pursuant to the terms hereof from time to time (the
“Register”). The entries in the Register shall be conclusive, and the Borrower, the Agent and the
Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof
as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.
The Register shall be available for inspection by the Borrower and any Lender, at any reasonable
time and from time to time upon reasonable prior notice.

(d) Participations. Any Lender may at any time, without the consent of, or notice to,
the Borrower or the Agent, sell participations to any Person (other than a natural person 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 the Term Loan 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 Agent 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. 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, modification or waiver of any provision of any
Loan Document described in the second sentence of Section 11.6. that adversely affects such
Participant. Subject to the immediately following subsection (e), the Borrower agrees that each
Participant shall be entitled to the benefits of Sections 3.12., 4.1., 4.4. to the same extent as
if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this
Section. To the extent permitted by Applicable Law, each Participant also shall be entitled to the
benefits of Section 11.3. as though it were a Lender, provided such Participant agrees to be
subject to Section 3.3. as though it were a Lender. Upon request from the Agent, a Lender shall
notify the Agent and the Borrower of the sale of any participation hereunder.

(e) Limitations upon Participant Rights. A Participant shall not be entitled to
receive any greater payment under Sections 3.12. and 4.1. than the applicable Lender would have
been entitled to receive with respect to the participation sold to such Participant, unless the
sale of the participation to such Participant is made with the Borrower’s prior written consent. A
Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the
benefits of Section 3.12. unless the Borrower is notified of the participation sold to such
Participant and such Participant agrees, for the benefit of the Borrower and the Agent, to comply
with Section 3.12.(c) as though it were a Lender.

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

(g) No Registration. Each Lender agrees that, without the prior written consent of
the Borrower and the Agent, it will not make any assignment hereunder in any manner or under any
circumstances that would require registration or qualification of, or filings in respect of, any
Loan or Note under the Securities Act or any other securities laws of the United States of America
or of any other jurisdiction.

	 	 	Section 11.6. Amendments.	 

(a) Except as otherwise expressly provided in this Agreement, any consent or approval required
or permitted by this Agreement or any other Loan Document to be given by the Lenders may be given,
and any term of this Agreement or of any other Loan Document may be amended, and the performance or
observance by the Borrower or any other Loan Party or any Subsidiary of any terms of this Agreement
or such other Loan Document or the continuance of any Default or Event of Default may be waived
(either generally or in a particular instance and either retroactively or prospectively) with, but
only with, the written consent of the Requisite Lenders (and, in the case of an amendment to any
Loan Document, the written consent of each Loan Party a party thereto).

(b) Notwithstanding the foregoing, without the prior written consent of each Lender adversely
affected thereby, no amendment, waiver or consent shall do any of the following:

(i) subject the Lenders to any additional obligations;

(ii) reduce the principal of, or interest that has accrued or the rates of interest
that will be charged on the outstanding principal amount of, any Loans or other Obligations;

(iii) reduce the amount of any Fees payable hereunder or postpone any date fixed for
payment thereof;

(iv) modify the definition of the term “Termination Date” (except as contemplated under
Section 2.9.) or otherwise postpone any date fixed for any payment of any principal of, or
interest on, any Loans or any other Obligations (including the waiver of any Default or
Event of Default as a result of the nonpayment of any such Obligations as and when due);

(v) amend or otherwise modify the provisions of Section 3.2.;

(vi) modify the definition of the term “Requisite Lenders” or otherwise modify in any
other manner the number or percentage of the Lenders required to make any determinations or
waive any rights hereunder or to modify any provision hereof,

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55

including without limitation, any modification of this Section 11.6. if such modification
would have such effect;

(vii) release any Guarantor from its obligations under the Guaranty (except as
otherwise permitted under Section 7.3.(b)) or release any Collateral (except as otherwise
permitted under Section 7.7.);

(viii) amend or otherwise modify the provisions of Section 9.3.; or

(ix) increase the number of Interest Periods permitted with respect to Loans under
Section 2.3.

(c) No amendment, waiver or consent, unless in writing and signed by the Agent, in such
capacity, in addition to the Lenders required hereinabove to take such action, shall affect the
rights or duties of the Agent under this Agreement or any of the other Loan Documents.

(d) No waiver shall extend to or affect any obligation not expressly waived or impair any
right consequent thereon and any amendment, waiver or consent shall be effective only in the
specific instance and for the specific purpose set forth therein. Except as otherwise provided in
Section 10.5., no course of dealing or delay or omission on the part of the Agent or any Lender in
exercising any right shall operate as a waiver thereof or otherwise be prejudicial thereto. Any
Event of Default occurring hereunder shall continue to exist until such time as such Event of
Default is waived in writing in accordance with the terms of this Section, notwithstanding any
attempted cure or other action by the Borrower, any other Loan Party or any other Person subsequent
to the occurrence of such Event of Default. Except as otherwise explicitly provided for herein or
in any other Loan Document, no notice to or demand upon the Borrower shall entitle the Borrower to
any other or further notice or demand in similar or other circumstances.

	 	 	Section 11.7. Nonliability of Agent and Lenders.	 

The relationship between the Borrower and the Lenders and the Agent shall be solely that of
borrower and lender. Neither the Agent nor any Lender shall have any fiduciary responsibilities to
the Borrower or any other Loan Party and no provision in this Agreement or in any of the other Loan
Documents, and no course of dealing between or among any of the parties hereto, shall be deemed to
create any fiduciary duty owing by the Agent or any Lender to any Lender, the Borrower, any
Subsidiary or any other Loan Party. Neither the Agent nor any Lender undertakes any responsibility
to the Borrower to review or inform the Borrower of any matter in connection with any phase of the
Borrower’s business or operations. In connection with all aspects of each transaction contemplated
hereby, the Borrower and each other Loan Party acknowledges and agrees, and acknowledges its
Affiliates’ understanding, that (a) the credit facilities provided for hereunder and any related
arranging or other services in connection therewith (including in connection with any amendment,
waiver or other modification hereof or of any other Loan Document) are an arm’s-length commercial
transaction between the Borrower, each other Loan Party and their respective Affiliates, on the one
hand, and the Agent and the Lenders, on the other hand; (b) neither the Agent nor any Lender has
assumed or will assume any advisory, agency or fiduciary responsibility in favor of the Borrower or
any other Loan Party with respect to any of the transactions contemplated hereby or the process
leading hereto

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56

(irrespective of whether the Agent, any Lender or any of their respective Affiliates has advised or
is currently advising the Borrower, any other Loan Party or any of their respective Affiliates on
other matters) and neither the Agent 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 (c)
the Agent, 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 Agent nor any Lender has any obligation to
disclose any of such interests by virtue of any advisory, agency or fiduciary relationship.

	 	 	Section 11.8. Confidentiality.	 

The Agent and each Lender shall use reasonable efforts to assure that information about the
Parent, the Borrower, the other Loan Parties and other Subsidiaries, and the respective properties
thereof and their operations, affairs and financial condition, not generally disclosed to the
public, which is furnished to the Agent or any Lender pursuant to the provisions of this Agreement
or any other Loan Document, is used only for the purposes of this Agreement and the other Loan
Documents and shall not be divulged to any Person other than the Agent, the Lenders, and their
respective agents who are actively and directly participating in the evaluation, administration or
enforcement of the Loan Documents and other transactions between the Agent or such Lender, as
applicable, and the Borrower, but in any event the Agent and the Lenders may make disclosure:
(a) to any of their respective affiliates (provided they shall agree to keep such information
confidential in accordance with the terms of this Section 11.8.); (b) as reasonably requested by
any potential or actual Assignee, Participant or other transferee in connection with the
contemplated transfer of any Commitment or participations therein as permitted hereunder (provided
they shall agree to keep such information confidential in accordance with the terms of this
Section); (c) as required or requested by any Governmental Authority or representative thereof or
pursuant to legal process or in connection with any legal proceedings or as otherwise required by
Applicable Law; provided, however, if the Agent or a Lender receives a summons or subpoena to
disclose any such confidential information to any Person, the Agent or such Lender, as applicable,
shall, if legally permitted, endeavor to notify the Borrower thereof as soon as possible after
receipt of such request, summons or subpoena and the Borrower shall be afforded an opportunity to
seek protective orders, or such other confidential treatment of such disclosed information, as the
Borrower and the Agent or such Lender, as applicable, may deem reasonable; (d) to the Agent’s or
such Lender’s independent auditors and other professional advisors (provided they shall be notified
of the confidential nature of the information); (e) after the happening and during the continuance
of an Event of Default, to any other Person, in connection with the exercise by the Agent or the
Lenders of rights hereunder or under any of the other Loan Documents; (f) upon Borrower’s prior
consent (which consent shall not be unreasonably withheld), to any contractual counter-parties to
any swap or similar hedging agreement or to any rating agency; and (g) to the extent such
information (x) becomes publicly available other than as a result of a breach of this Section
actually known to such Lender to be such a breach or (y) becomes available to the Agent or any
Lender on a nonconfidential basis from a source other than the Borrower or any Affiliate.
Notwithstanding the foregoing, the Agent and each Lender may disclose any such confidential
information, without notice to the Borrower or any other Loan Party, to Governmental Authorities in
connection with any regulatory examination of the

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57

Agent or such Lender or in accordance with the regulatory compliance policy of the Agent or such
Lender.

	 	 	Section 11.9. Indemnification.	 

(a) The Borrower shall and hereby agrees to indemnify, defend and hold harmless the Agent,
each of the Lenders, any affiliate of the Agent or any Lender, and their respective directors,
officers, shareholders, agents, employees and counsel (each referred to herein as an “Indemnified
Party”) from and against any and all of the following (collectively, the “Indemnified Costs”):
losses, costs, claims, damages, liabilities, deficiencies, judgments or reasonable expenses of
every kind and nature (including, without limitation, amounts paid in settlement, court costs and
the reasonable fees and disbursements of counsel incurred in connection with any litigation,
investigation, claim or proceeding or any advice rendered in connection therewith, but excluding
losses, costs, claims, damages, liabilities, deficiencies, judgments or expenses indemnification in
respect of which is specifically covered by Section 3.12. or 4.1. or expressly excluded from the
coverage of such Section 3.12. or 4.1.) incurred by an Indemnified Party in connection with,
arising out of, or by reason of, any suit, cause of action, claim, arbitration, investigation or
settlement, consent decree or other proceeding (the foregoing referred to herein as an “Indemnity
Proceeding”) which is in any way related directly or indirectly to: (i) this Agreement or any
other Loan Document or the transactions contemplated thereby; (ii) the making of any Loans
hereunder; (iii) any actual or proposed use by the Borrower of the proceeds of the Loans; (iv) the
Agent’s or any Lender’s entering into this Agreement; (v) the fact that the Agent and the Lenders
have established the credit facility evidenced hereby in favor of the Borrower; (vi) the fact that
the Agent and the Lenders are creditors of the Borrower and have or are alleged to have information
regarding the financial condition, strategic plans or business operations of the Borrower and the
Subsidiaries; (vii) the fact that the Agent and the Lenders are material creditors of the Borrower
and are alleged to influence directly or indirectly the business decisions or affairs of the
Borrower and the Subsidiaries or their financial condition; (viii) the exercise of any right or
remedy the Agent or the Lenders may have under this Agreement or the other Loan Documents; (ix) any
civil penalty or fine assessed by the OFAC against, and all reasonable costs and expenses
(including counsel fees and disbursements) incurred in connection with defense thereof by, the
Agent or any Lender as a result of conduct of the Borrower, any other Loan Party or any Subsidiary
that violates a sanction enforced by the OFAC; or (x) any violation or non-compliance by the
Borrower or any Subsidiary of any Applicable Law (including any Environmental Law) including, but
not limited to, any Indemnity Proceeding commenced by (A) the Internal Revenue Service or state
taxing authority or (B) any Governmental Authority or other Person under any Environmental Law,
including any Indemnity Proceeding commenced by a Governmental Authority or other Person seeking
remedial or other action to cause the Borrower or its Subsidiaries (or its respective properties)
(or the Agent and/or the Lenders as successors to the Borrower) to be in compliance with such
Environmental Laws; provided, however, that the Borrower shall not be obligated to indemnify any
Indemnified Party for (A) any acts or omissions of such Indemnified Party in connection with
matters described in this subsection to the extent arising from the gross negligence or willful
misconduct of such Indemnified Party, as determined by a court of competent jurisdiction in a
final, non-appealable judgment or (B) Indemnified Costs to the extent arising directly out of or
resulting directly from claims of one or more Indemnified Parties against another Indemnified
Party.

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(b) The Borrower’s indemnification obligations under this Section 11.9. shall apply to all
Indemnity Proceedings arising out of, or related to, the foregoing whether or not an Indemnified
Party is a named party in such Indemnity Proceeding. In this regard, this indemnification shall
cover all Indemnified Costs of any Indemnified Party in connection with any deposition of any
Indemnified Party or compliance with any subpoena (including any subpoena requesting the production
of documents). This indemnification shall, among other things, apply to any Indemnity Proceeding
commenced by other creditors of the Borrower or any Subsidiary, any shareholder of the Borrower or
any Subsidiary (whether such shareholder(s) are prosecuting such Indemnity Proceeding in their
individual capacity or derivatively on behalf of the Borrower), any account debtor of the Borrower
or any Subsidiary or by any Governmental Authority. If indemnification is to be sought hereunder by
an Indemnified Party, then such Indemnified Party shall notify the Borrower of the commencement of
any Indemnity Proceeding; provided, however, that the failure to so notify the Borrower shall not
relieve the Borrower from any liability that it may have to such Indemnified Party pursuant to this
Section 11.9.

(c) This indemnification shall apply to any Indemnity Proceeding arising during the pendency
of any bankruptcy proceeding filed by or against the Borrower and/or any Subsidiary.

(d) All out-of-pocket fees and expenses of, and all amounts paid to third-persons by, an
Indemnified Party shall be advanced by the Borrower at the request of such Indemnified Party
notwithstanding any claim or assertion by the Borrower that such Indemnified Party is not entitled
to indemnification hereunder, upon receipt of an undertaking by such Indemnified Party that such
Indemnified Party will reimburse the Borrower if it is actually and finally determined by a court
of competent jurisdiction that such Indemnified Party is not so entitled to indemnification
hereunder.

(e) An Indemnified Party may conduct its own investigation and defense of, and may formulate
its own strategy with respect to, any Indemnity Proceeding covered by this Section and, as provided
above, all Indemnified Costs incurred by such Indemnified Party shall be reimbursed by the
Borrower. No action taken by legal counsel chosen by an Indemnified Party in investigating or
defending against any such Indemnity Proceeding shall vitiate or in any way impair the obligations
and duties of the Borrower hereunder to indemnify and hold harmless each such Indemnified Party;
provided, however, that if (i) the Borrower is required to indemnify an Indemnified Party pursuant
hereto and (ii) the Borrower has provided evidence reasonably satisfactory to such Indemnified
Party that the Borrower has the financial wherewithal to reimburse such Indemnified Party for any
amount paid by such Indemnified Party with respect to such Indemnity Proceeding, such Indemnified
Party shall not settle or compromise any such Indemnity Proceeding without the prior written
consent of the Borrower (which consent shall not be unreasonably withheld or delayed).
Notwithstanding the foregoing, an Indemnified Party may settle or compromise any such Indemnity
Proceeding without the prior written consent of the Borrower where (x) no monetary relief is sought
against such Indemnified Party in such Indemnity Proceeding or (y) there is an allegation of a
violation of law by such Indemnified Party.

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(f) If and to the extent that the obligations of the Borrower under this Section are
unenforceable for any reason, the Borrower hereby agrees to make the maximum contribution to the
payment and satisfaction of such obligations which is permissible under Applicable Law.

(g) The Borrower’s obligations under this Section shall survive any termination of this
Agreement and the other Loan Documents and the payment in full in cash of the Obligations, and are
in addition to, and not in substitution of, any other of their obligations set forth in this
Agreement or any other Loan Document to which it is a party.

	 	 	Section 11.10. Termination; Survival.	 

At such time as (a) all of the Commitments have been terminated and (b) all Obligations (other
than obligations which survive as provided in the following sentence) have been paid and satisfied
in full, this Agreement shall terminate. The indemnities to which the Agent and the Lenders are
entitled under the provisions of Sections 3.12., 4.1., 4.4., 10.8., 11.2. and 11.9. and any other
provision of this Agreement and the other Loan Documents, and the provisions of Section 11.4.,
shall continue in full force and effect and shall protect the Agent and the Lenders
(i) notwithstanding any termination of this Agreement, or of the other Loan Documents, against
events arising after such termination as well as before and (ii) at all times after any such party
ceases to be a party to this Agreement with respect to all matters and events existing on or prior
to the date such party ceased to be a party to this Agreement.

	 	 	Section 11.11. Severability of Provisions.	 

Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective only to the extent of such prohibition or
unenforceability without invalidating the remainder of such provision or the remaining provisions
or affecting the validity or enforceability of such provision in any other jurisdiction.

	 	 	Section 11.12. GOVERNING LAW.	 

THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NORTH CAROLINA APPLICABLE TO CONTRACTS EXECUTED, AND TO BE FULLY PERFORMED, IN SUCH STATE.

	 	 	Section 11.13. Patriot Act.	 

The Lenders and the Agent each hereby notifies the Borrower that pursuant to the requirements
of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), it is
required to obtain, verify and record information that identifies the Borrower and the other Loan
Parties, which information includes the name and address of the Borrower and the other Loan Parties
and other information that will allow such Lender or the Agent, as applicable, to identify the
Borrower and the other Loan Parties in accordance with such Act.

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	 	 	Section 11.14. Counterparts.	 

This Agreement and any amendments, waivers, consents or supplements may be executed in any
number of counterparts and by different parties hereto in separate counterparts, each of which when
so executed and delivered shall be deemed an original, but all of which counterparts together shall
constitute but one and the same instrument.

	 	 	Section 11.15. Obligations with Respect to Loan Parties.	 

The obligations of the Parent and the Borrower to direct or prohibit the taking of certain
actions by the other Loan Parties as specified herein shall be absolute and not subject to any
defense the Parent or the Borrower may have that the Parent or the Borrower does not control such
Loan Parties.

	 	 	Section 11.16. Limitation of Liability.	 

Neither the Agent nor any Lender, nor any affiliate, officer, director, employee, attorney, or
agent of the Agent or any Lender shall have any liability with respect to, and the Borrower hereby
waives, releases, and agrees not to sue any of them upon, any claim for any special, indirect,
incidental, or consequential damages suffered or incurred by the Borrower in connection with,
arising out of, or in any way related to, this Agreement or any of the other Loan Documents, or any
of the transactions contemplated by this Agreement or any of the other Loan Documents. The
Borrower hereby waives, releases, and agrees not to sue the Agent or any Lender or any of the
Agent’s or any Lender’s affiliates, officers, directors, employees, attorneys, or agents for
punitive damages in respect of any claim in connection with, arising out of, or in any way related
to, this Agreement or any of the other Loan Documents, or any of the transactions contemplated by
this Agreement or financed hereby.

	 	 	Section 11.17. Entire Agreement.	 

This Agreement, the Notes, and the other Loan Documents referred to herein embody the final,
entire agreement among the parties hereto and supersede any and all prior commitments, agreements,
representations, and understandings, whether written or oral, relating to the subject matter hereof
and thereof and may not be contradicted or varied by evidence of prior, contemporaneous, or
subsequent oral agreements or discussions of the parties hereto. There are no oral agreements
among the parties hereto.

	 	 	Section 11.18. Construction.	 

The Borrower, the Parent, each Lender and the Agent acknowledge that each of them has had the
benefit of legal counsel of its own choice and has been afforded an opportunity to review this
Agreement and the other Loan Documents with its legal counsel and that this Agreement and the other
Loan Documents shall be construed as if jointly drafted by the Borrower, the Parent, each Lender
and the Agent.

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	 	 	Section 11.19. Existing Credit Agreement Provisions.	 

(a) Notwithstanding any provision of any Loan Document to the contrary, the Borrower, the
Agent and the Lenders hereby agree that after the Agreement Date any effective amendment to, or
effective waiver of, (i) the Existing Credit Agreement Representations, (ii) the Existing Credit
Agreement Defaults or (iii) the Existing Credit Agreement Covenants, which has been consented to by
the Requisite Lenders, shall be deemed to be incorporated herein by reference and shall become
effective hereunder when such amendment or waiver becomes effective thereunder, without any further
action necessary by the Borrower, the Agent or the Lenders. Any such amendment or waiver shall be
effective only in the specific instance and for the specific purpose for which given. The Borrower
agrees to provide promptly the Agent with a copy of such amendment or waiver.

(b) The Existing Credit Agreement Representations, the Existing Credit Agreement Defaults and
the Existing Credit Agreement Covenants incorporated herein by reference and any definitions or
other terms or provisions of the Existing Credit Agreement incorporated herein by reference, will
be deemed to continue in effect for the benefit of the Agent and the Lenders until this Agreement
has terminated in accordance with its terms, including without limitation, whether or not the
Existing Credit Agreement remains in effect or whether or not the Existing Credit Agreement is
amended, restated or terminated after the date hereof. For purposes of the foregoing,
(i) references in the provisions of the Existing Credit Agreement incorporated herein by reference
to (x) the “Borrower” shall refer to the Borrower; (y) to the “Agent,” “Lenders” and “Lender” shall
refer to the Agent, the Lenders and a Lender, respectively and (z) to “Material Adverse Effect”
shall refer to a Material Adverse Effect; and (ii) the terms “Agreement,” “hereto” and “hereof”
when used in the provisions of the Existing Credit Agreement incorporated herein by referenced
shall refer to this Agreement.

[Signatures on Following Pages]

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

U-STORE-IT, L.P.

By: U-Store-It Trust, its sole general partner

By: /s/ Dean Jernigan 

Name: Dean Jernigan

Title: President and Chief Executive Officer

U-STORE-IT TRUST

By: /s/ Dean Jernigan

Name: Dean Jernigan

Title: President and Chief Executive Officer

63

[Signature Page to Credit Agreement with U-Store-It, L.P.]

WACHOVIA BANK, NATIONAL ASSOCIATION, as Agent and as a Lender

By: /s/ Rex E. Rudy

Name: Rex E. Rudy

Title: Managing Director

64

SCHEDULE I

Lender Term Commitments

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Lender	 	Term Commitment Amount
	Wachovia Bank, National Association
	 	 	 	 	 	$	50,000,000	 
	Total:
	 	 	 	 	 	 	 	 	 	$	50,000,000	 

65

SCHEDULE 1.1(A)

List of Loan Parties

	 	 	 
	Parent:

	 	U-Store-It Trust
	Borrower:

	 	U-Store-It, L.P.
	Pledgor:

	 	U-Store-It, L.P.
	Property Owners:

	 	YSI RT LLC
	Guarantors:

	 	U-Store-It Trust

U-Store-It Mini Warehouse Co.

YSI Management LLC

YSI RT LLC

66

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]