Document:

Exhibit 10.1

 

CREDIT AGREEMENT

 

This CREDIT
AGREEMENT dated as of July 23, 2003 (this “Agreement”), is entered into
among DANAHER CORPORATION, a Delaware corporation (the “Company”),
certain Subsidiaries of the Company party hereto pursuant to Section 2.14
(each a “Designated Borrower” and, together with the Company, the “Borrowers”
and, each a “Borrower”), each lender from time to time party hereto
(collectively, the “Lenders” and individually, a “Lender”), and
BANK OF AMERICA, N.A., as Administrative Agent and Swing Line
Lender.

 

W
I T N E S S E T H :

 

WHEREAS, the
Company has requested that the Lenders provide a revolving credit facility, and
the Lenders are willing to do so on the terms and conditions set forth herein;
and

 

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

 

ARTICLE I.

DEFINITIONS AND ACCOUNTING TERMS

 

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

 

“Absolute
Rate” means a fixed rate of interest expressed in multiples of 1/100th
of one percent.

 

“Absolute
Rate Loan” means a Bid Loan denominated in Dollars that bears interest at a
rate determined with reference to an Absolute Rate.

 

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

 

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

 

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

 

“Affiliate”
means, with respect to any Person, another Person that directly, or indirectly
through one or more intermediaries, Controls or is Controlled by or is under
common Control with the Person specified. 
“Control” means the possession, directly or indirectly, of the
power to direct or cause the direction of the management or policies of a
Person, whether through the ability to exercise voting power, by contract or
otherwise.  “Controlling” and “Controlled”
have meanings correlative thereto. 
Without limiting the generality of the foregoing, a Person shall be
deemed to be Controlled by another Person if such other Person possesses,
directly or indirectly, 

 

1

 

power to vote
10% or more of the securities having ordinary voting power for the election of
directors, managing general partners or the equivalent.

 

“Agent-Related
Persons”  means the
Administrative Agent, together with its Affiliates (including, in the case of
Bank of America in its capacity as the Administrative Agent, the Arranger), and
the officers, directors, employees, agents and attorneys-in-fact of such
Persons and Affiliates.

 

“Aggregate Commitments”
means the Commitments of all the Lenders.

 

“Agreement”
means this Credit Agreement.

 

“Alternative
Currency” means each of Euro, Sterling, Yen and each other currency (other
than Dollars) that is approved in accordance with Section 1.07.

 

“Alternative
Currency Equivalent” means, at any time, with respect to any amount
denominated in Dollars, the equivalent amount thereof in the applicable
Alternative Currency as determined by the Administrative Agent at such time on
the basis of the Spot Rate (determined in respect of the most recent
Revaluation Date) for the purchase of such Alternative Currency with Dollars.

 

“Alternative
Currency Sublimit” means, on any date of determination, an amount equal to
the difference between (a) 90% of the Aggregate Commitments on such date and
(b) the Outstanding Amount of Bid Loans denominated in a Requested Currency on
such date.  The Alternative Currency
Sublimit is part of, and not in addition to, the Aggregate Commitments.

 

“Applicable
Foreign Obligor Documents” has the meaning specified in Section 5.16.

 

“Applicable
Rate” means, from time to time, the following percentages per annum, based
upon the Debt Rating as set forth below:

 

Applicable Rate

 

	
  Pricing

  Level

  	
   

  	
  Debt Ratings

  S&P/Moody’s

  	
   

  	
  Facility Fee

  	
   

  	
  Eurocurrency

  Rate

  	
   

  	
  Utilization

  Fee

  	
   

  
	
  1

  	
   

  	
  3
  AA-/Aa3

  	
   

  	
  00.065

  	
  %

  	
  00.160

  	
  %

  	
  00.050

  	
  %

  
	
  2

  	
   

  	
  3
  A+/A1

  	
   

  	
  00.080

  	
  %

  	
  00.170

  	
  %

  	
  00.050

  	
  %

  
	
  3

  	
   

  	
  3  A/A2

  	
   

  	
  00.090

  	
  %

  	
  00.210

  	
  %

  	
  00.100

  	
  %

  
	
  4

  	
   

  	
  3  A-/A3

  	
   

  	
  00.100

  	
  %

  	
  00.300

  	
  %

  	
  00.100

  	
  %

  
	
  5

  	
   

  	
  3  BBB+/Baa1

  	
   

  	
  00.125

  	
  %

  	
  00.375

  	
  %

  	
  00.125

  	
  %

  
	
  6

  	
   

  	
  <
  BBB+/Baa1

  	
   

  	
  00.175

  	
  %

  	
  00.575

  	
  %

  	
  00.125

  	
  %

  

 

 

“Debt
Rating” means, as of any date of determination, the rating as  determined
by either S&P or Moody’s (collectively, the “Debt Ratings”) of the
Company’s non-credit-enhanced, senior unsecured long-term debt; provided
that if a Debt Rating is issued by each of the foregoing rating agencies, then
the higher of such Debt Ratings shall apply (with the Debt Rating

 

2

 

for Pricing Level 1 being the
highest and the Debt Rating for Pricing Level 6 being the lowest), unless there
is a split in Debt Ratings of more than one level, in which case the Pricing
Level that is one level higher than the Pricing Level of the lower Debt Rating
shall apply.

 

Initially, the Applicable Rate shall be determined
based upon the Debt Rating specified in the certificate delivered pursuant to Section
4.01(a)(vi).  Thereafter, each
change in the Applicable Rate resulting from a publicly announced change in the
Debt Rating shall be effective, in the case of an upgrade, during the period
commencing on the date of delivery by the Company to the Administrative Agent
of notice thereof pursuant to Section 6.03(e) and ending on the date
immediately preceding the effective date of the next such change and, in the
case of a downgrade, during the period commencing on the date of the public
announcement thereof and ending on the date immediately preceding the effective
date of the next such change.

 

“Applicable
Time” means, with respect to (a) any borrowings and payments related to
Committed Loans denominated in any Alternative Currency, the local time in the
place of settlement for such Alternative Currency as may be determined by the
Administrative Agent to be necessary for timely settlement on the relevant date
in accordance with normal banking procedures in the place of payment and (b)
any borrowings and payments related to the Bid Loans made by a Lender in any
Alternative Currency or any Requested Currency, the local time in the place of
settlement for such Alternative Currency or Requested Currency, as the case may
be, as may be determined by such Lender to be necessary for timely settlement
on the relevant date in accordance with normal banking procedures in the place
of payment.

 

“Applicant
Borrower” has the meaning specified in Section 2.14.

 

“Approved
Fund” has the meaning specified in Section 11.07(g).

 

“Arranger”
means Banc of America  Securities LLC, in its capacity as a
co-lead arranger and sole book manager in respect of the Commitments hereunder.

 

“Assignment
and Assumption” means an Assignment and Assumption substantially in the
form of Exhibit E.

 

“Attorney
Costs” means and includes all fees, expenses and disbursements of any law
firm or other external counsel.

 

“Attributable
Indebtedness” means, on any date, (a) in respect of any capital lease of
any Person, the capitalized amount thereof that would appear on a balance sheet
of such Person prepared as of such date in accordance with GAAP, and (b) in
respect of any Off Balance Sheet Obligation, the capitalized amount of the
remaining lease payments under the relevant lease that would appear on a
balance sheet of such Person prepared as of such date in accordance with GAAP
if such lease were accounted for as a capital lease.

 

“Audited
Financial Statements” means the audited consolidated balance sheet of the
Company and its Subsidiaries for the fiscal year ended December 31, 2002, and
the related consolidated statements of income or operations, shareholders’
equity and cash flows for such fiscal year of the Company and its Subsidiaries,
including the notes thereto.

 

3

 

“Availability
Period” means the period from and including the Closing Date to the
earliest of (a) the Maturity Date, (b) the date of termination of the Aggregate
Commitments pursuant to Section 2.06, and (c) the date of termination of
the commitment of each Lender to make Loans.

 

“Bank of
America” means Bank of America, N.A. and its successors.

 

“Base Rate”  means for any day a fluctuating
rate per annum equal to the higher of (a) the Federal Funds Rate plus 1/2 of 1%
and (b) the rate of interest in effect for such day as publicly announced from
time to time by Bank of America as its “prime rate.”  The “prime rate” is a rate set by Bank of America based upon
various factors including Bank of America’s costs and desired return, general
economic conditions and other factors, and is used as a reference point for
pricing some loans, which may be priced at, above, or below such announced
rate.  Any change in such rate announced
by Bank of America shall take effect at the opening of business on the day
specified in the public announcement of such change.

 

“Base Rate
Committed Loan” means a Committed Loan that is a Base Rate Loan.

 

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

 

“Bid
Borrowing” means a borrowing consisting of simultaneous Bid Loans of the
same Type from each of the Lenders whose offer to make one or more Bid Loans as
part of such borrowing has been accepted under the auction bidding procedures
described in Section 2.03.

 

“Bid Loan”
has the meaning specified in Section 2.03(a).

 

“Bid Loan
Lender” means, in respect of any Bid Loan, the Lender making such Bid Loan
to the applicable Borrower.

 

“Bid Loan
Requested Currency Sublimit” means an amount equal to 40% of the Aggregate
Commitments.  The Bid Loan Requested
Currency Sublimit is part of, and not in addition to, the Aggregate
Commitments.

 

“Bid
Request” means a written request for one or more Bid Loans substantially in
the form of Exhibit B-1 hereto.

 

“Borrower”
and “Borrowers” each has the meaning specified in the introductory
paragraph hereto.

 

“Borrowing”
means a Committed Borrowing, a Bid Borrowing or a Swing Line Borrowing, as the
context may require.

 

“Business
Day” means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the Laws of, or are in fact
closed in, the state where the Administrative Agent’s Office with respect to
Obligations denominated in Dollars is located and:

 

4

 

(a) if such day relates to any interest rate
settings as to a Eurocurrency Rate Loan denominated in Dollars, any fundings,
disbursements, settlements and payments in Dollars in respect of any such
Eurocurrency Rate Loan, or any other dealings in Dollars to be carried out
pursuant to this Agreement in respect of any such Eurocurrency Rate Loan, means
any such day on which dealings in deposits in Dollars are conducted by and
between banks in the London interbank eurodollar market;

 

(b) if such day relates to any interest rate
settings as to a Eurocurrency Rate Loan denominated in Euro, any fundings,
disbursements, settlements and payments in Euro in respect of any such
Eurocurrency Rate Loan, or any other dealings in Euro to be carried out
pursuant to this Agreement in respect of any such Eurocurrency Rate Loan, means
a TARGET Day;

 

(c) if such day relates to any interest rate
settings as to a Eurocurrency Rate Loan denominated in a currency other than
Dollars or Euro, means any such day on which dealings in deposits in the
relevant currency are conducted by and between banks in the London or other
applicable offshore interbank market for such currency; and

 

(d) if such day relates to any fundings,
disbursements, settlements and payments in a currency other than Dollars or
Euro in respect of a Eurocurrency Rate Loan denominated in a currency other
than Dollars or Euro, or any other dealings in any currency other than Dollars
or Euro to be carried out pursuant to this Agreement in respect of any such
Eurocurrency Rate Loan (other than any interest rate settings), means any such
day on which banks are open for foreign exchange business in the principal
financial center of the country of such currency.

 

“Change of
Control” means, with respect to any Person, an event or series of events by
which:

 

(a)                                  any
“person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, but excluding (i) any employee benefit plan of
such person or its subsidiaries, and any person or entity acting in its
capacity as trustee, agent or other fiduciary or administrator of any such plan
and (ii) Steven M. Rales and Mitchell P. Rales) becomes the “beneficial owner”
(as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934,
except that a person or group shall be deemed to have “beneficial ownership” of
all securities that such person or group has the right to acquire (such right,
an “option right”), whether such right is exercisable immediately or
only after the passage of time), directly or indirectly, of 30% or more of the
equity securities of such Person entitled to vote for members of the board of
directors or equivalent governing body of such Person on a fully-diluted basis
(and taking into account all such securities that such person or group has the
right to acquire pursuant to any option right); or

 

(b)                                 during
any period of 12 consecutive months, a majority of the members of the board of
directors or other equivalent governing body of such Person cease to be
composed of individuals (i) who were members of that board or equivalent
governing body on the first day of such period, (ii) whose election or nomination
to that board or

 

5

 

equivalent governing body was approved by
individuals referred to in clause (i) above constituting at the time of such
election or nomination at least a majority of that board or equivalent
governing body or (iii) whose election or nomination to that board or other
equivalent governing body was approved by individuals referred to in clauses
(i) and (ii) above constituting at the time of such election or nomination at
least a majority of that board or equivalent governing body (excluding, in the
case of both clause (ii) and clause (iii), any individual whose initial
nomination for, or assumption of office as, a member of that board or
equivalent governing body occurs as a result of an actual or threatened
solicitation of proxies or consents for the election or removal of one or more
directors by any person or group other than a solicitation for the election of
one or more directors by or on behalf of the board of directors).

 

“Closing
Date” means the first date all the conditions precedent in Section 4.01
are satisfied or waived in accordance with Section 4.01 (or, in the case
of Section 4.01(b), waived by the Person entitled to receive the
applicable payment).

 

“Code”
means the Internal Revenue Code of 1986.

 

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

 

“Committed
Borrowing” means a borrowing consisting of simultaneous Committed Loans of
the same Type, in the same currency and, in the case of Eurocurrency Rate
Loans, having the same Interest Period made by each of the Lenders pursuant to Section
2.01.

 

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

 

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

 

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

 

“Company
Guaranty” means the Guaranty made by the Company in favor of the
Administrative Agent and the Lenders, in respect of the Obligations of the
Designated Borrowers pursuant to Article X of this Agreement.

 

“Competitive
Bid” means a written offer by a Lender to make one or more Bid Loans,
substantially in the form of Exhibit B-2 hereto, duly completed and
signed by a Lender.

 

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

 

6

 

“Consolidated
Funded Indebtedness” means, as of any date of determination, for the
Company and its Subsidiaries on a consolidated basis, the sum of (a) the
outstanding principal amount of all obligations, whether current or long-term,
for borrowed money (including Obligations hereunder) and all obligations evidenced
by bonds, debentures, notes, loan agreements or other similar instruments, (b)
Attributable Indebtedness in respect of capital leases and (c) without
duplication, all Guarantees with respect to outstanding Indebtedness of the
types specified in clauses (a) and (b) above of Persons other than the Company
or any Subsidiary.

 

“Consolidated
Leverage Ratio” means, as of any date of determination, the ratio of (a)
Consolidated Funded Indebtedness as of such date to (b) the sum of such
Consolidated Funded Indebtedness plus Shareholders’ Equity as of such
date.

 

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

 

“Control”
has the meaning specified in the definition of “Affiliate.”

 

“Debt
Rating” has the meaning set forth in the definition of “Applicable Rate.”

 

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

 

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

 

“Default
Rate” means an interest rate equal to (a) the Base Rate plus (b) 2%
per annum; provided, however, that with respect to a Eurocurrency
Rate Loan, the Default Rate shall be an interest rate equal to the interest
rate (including any Applicable Rate and any Mandatory Cost) otherwise
applicable to such Loan plus 2% per annum, in each case to the fullest extent
permitted by applicable Laws.

 

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

 

“Designated
Borrower” has the meaning specified in the introductory paragraph hereto.

 

“Designated
Borrower Notice” has the meaning specified in Section 2.14.

 

7

 

“Designated
Borrower Request and Assumption Agreement” has the meaning specified in Section 2.14.

 

“Disposition”
or “Dispose” means the sale, transfer, license, lease or other
disposition (including any sale and leaseback transaction) of any property by
any Person, including any sale, assignment, transfer or other disposal, with or
without recourse, of any notes or accounts receivable or any rights and claims
associated therewith.

 

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

 

“Dollar
Equivalent” means, at any time, (a) with respect to any amount
denominated in Dollars, such amount, and (b) with respect to any amount
denominated in any Alternative Currency or any Requested Currency, the
equivalent amount thereof in Dollars as determined by the Administrative Agent
at such time on the basis of the Spot Rate (determined in respect of the most
recent Revaluation Date) for the purchase of Dollars with such Alternative
Currency or Requested Currency, as the case may be.

 

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

 

“Eligible
Assignee” has the meaning specified in Section 11.07(g).

 

“EMU”
means the economic and monetary union in accordance with the Treaty of Rome
1957, as amended by the Single European Act 1986, the Maastricht Treaty of 1992
and the Amsterdam Treaty of 1998.

 

“EMU
Legislation” means the legislative measures of the European Council for the
introduction of, changeover to or operation of a single or unified European
currency.

 

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

 

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

 

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

 

“ERISA
Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a
withdrawal by the Company or any ERISA Affiliate from a Pension Plan subject to
Section 4063 of ERISA during a plan year in which it was a substantial employer
(as defined in Section 4001(a)(2) of ERISA) or a cessation of operations
that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a
complete or partial withdrawal by the Company or any

 

8

 

ERISA Affiliate from a
Multiemployer Plan or notification that a Multiemployer Plan is in
reorganization; (d) the filing of a notice of intent to terminate, the
treatment of a Plan amendment as a termination under Sections 4041 or 4041A of
ERISA, or the commencement of proceedings by the PBGC to terminate a Pension
Plan or Multiemployer Plan; (e) an event or condition which constitutes grounds
under Section 4042 of ERISA for the termination of, or the appointment of a
trustee to administer, any Pension Plan or Multiemployer Plan; or (f) the
imposition of any liability under Title IV of ERISA, other than for PBGC
premiums due but not delinquent under Section 4007 of ERISA, upon the Company
or any ERISA Affiliate.

 

“Euro”
and “EUR” mean the lawful currency of the Participating Member States
introduced in accordance with the EMU Legislation.

 

“Eurocurrency
Bid Margin” means the margin above or below the Eurocurrency Rate to be
added to or subtracted from the Eurocurrency Rate, which margin shall be
expressed in multiples of 1/100th of one basis point.

 

“Eurocurrency
Margin Bid Loan” means a Bid Loan that bears interest at a rate based upon
the Eurocurrency Rate.

 

“Eurocurrency
Rate” means for any Interest Period with respect to a Eurocurrency Rate
Loan:

 

(a)                                  the
applicable Screen Rate for such Interest Period; or

 

(b)                                 if
the applicable Screen Rate shall not be available, the rate per annum
determined by the Administrative Agent as the rate of interest at which
deposits in the relevant currency for delivery on the first day of such
Interest Period in Same Day Funds in the approximate amount of the Eurocurrency
Rate Loan being made, continued or converted by Bank of America and with a term
equivalent to such Interest Period would be offered by Bank of America’s London
Branch (or other Bank of America branch or Affiliate) to major banks in the
London or other offshore interbank market for such currency at their request at
approximately 4:00 p.m. (London time) two Business Days prior to the first day
of such Interest Period.

 

“Eurocurrency
Rate Committed Loan” means a Committed Loan that bears interest at a rate
based on the Eurocurrency Rate. 
Eurocurrency Rate Loans may be denominated in Dollars or in an
Alternative Currency.  All Committed
Loans denominated in an Alternative Currency must be Eurocurrency Rate Loans.

 

“Eurocurrency
Rate Loan” means a Eurocurrency Rate Committed Loan or a Eurocurrency
Margin Bid Loan.

 

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

 

“Federal
Funds Rate” means, for any day, the rate per annum equal to the weighted
average of the rates on overnight Federal funds transactions with members of
the Federal Reserve System arranged by Federal funds brokers on such day, as
published by the Federal Reserve Bank of New York on the Business Day next
succeeding such day; provided that (a) if

 

9

 

such day is not a Business Day,
the Federal Funds Rate for such day shall be such rate on such transactions on
the next preceding Business Day as so published on the next succeeding Business
Day, and (b) if no such rate is so published on such next succeeding Business
Day, the Federal Funds Rate for such day shall be the average rate (rounded
upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of
America on such day on such transactions as determined by the Administrative
Agent.

 

“Fee Letter”
means the letter agreement, dated June 11, 2003, among the Company, the
Administrative Agent and the Arranger.

 

“Foreign
Lender” has the meaning specified in Section 11.15(a)(i).

 

“Foreign
Obligor” has the meaning specified in Section 5.16.

 

“Foreign
Subsidiary” means any Subsidiary that is organized under the laws of a
jurisdiction other than the United States or a state thereof.

 

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

 

“Fund”
has the meaning specified in Section 11.07(g).

 

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

 

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

 

“Granting
Lender” has the meaning specified in Section 11.07(h).

 

“Guarantee”
means, as to any Person, any (a) any obligation, contingent or otherwise, of
such Person guaranteeing or having the economic effect of guaranteeing any
Indebtedness or other obligation payable or performable by another Person (the
“primary obligor”) in any manner, whether directly or indirectly, and including
any obligation of such Person, direct or indirect, (i) to purchase or pay (or
advance or supply funds for the purchase or payment of) such Indebtedness or
other obligation, (ii) to purchase or lease property, securities or services
for the purpose of assuring the obligee in respect of such Indebtedness or
other obligation of the payment or performance of such Indebtedness or other
obligation, (iii) to maintain working capital, equity capital or any other
financial statement condition or liquidity or level of income or cash flow of
the primary obligor so as to enable the primary obligor to pay such
Indebtedness or other obligation, or (iv) entered into for the purpose of
assuring in any other manner the obligee in respect of such Indebtedness or
other obligation of the payment or performance thereof or to

 

10

 

protect such obligee against
loss in respect thereof (in whole or in part), or (b) any Lien on any assets of
such Person securing any Indebtedness or other obligation of any other Person,
whether or not such Indebtedness or other obligation is assumed by such
Person.  The amount of any Guarantee
shall be deemed to be an amount equal to the stated or determinable amount of
the related primary obligation, or portion thereof, in respect of which such
Guarantee is made or, if not stated or determinable, the maximum reasonably
anticipated liability in respect thereof as determined by the guaranteeing Person
in good faith.  The term “Guarantee” as
a verb has a corresponding meaning.

 

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

 

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

 

(a)                                  all
obligations of such Person for borrowed money and all obligations of such
Person evidenced by bonds, debentures, notes, loan agreements or other similar
instruments;

 

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

 

(c)                                  net
obligations of such Person under any Swap Contract;

 

(d)                                 all
obligations of such Person to pay the deferred purchase price of property or
services (other than trade accounts payable in the ordinary course of
business);

 

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

 

(f)                                    capital
leases and Off Balance Sheet Obligations; and

 

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

 

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

 

“Indemnified
Liabilities” has the meaning set forth in Section 11.05.

 

“Indemnitees”
has the meaning set forth in Section 11.05.

 

11

 

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

 

“Interest
Period” means, (a) as to each Eurocurrency Rate Loan, the period commencing
on the date such Eurocurrency Rate Loan is disbursed or (in the case of any
Eurocurrency Rate Committed Loan) converted to or continued as a Eurocurrency
Rate Loan and ending on the date one, two, three or six months thereafter, as
selected by the Company in its Committed Loan Notice or Bid Request, as the
case may be; and (b) as to each Absolute Rate Loan, a period of not less than
14 days and not more than 180 days as selected by the Borrower in its Bid
Request; provided that:

 

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

 

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

 

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

 

“IRS”
means the United States Internal Revenue Service.

 

“Laws”
means, collectively, all international, foreign, Federal, state and local
statutes, treaties, rules, guidelines, regulations, ordinances, codes and
administrative or judicial precedents or authorities, including the
interpretation or administration thereof by any Governmental Authority charged
with the enforcement, interpretation or administration thereof, and all
applicable administrative orders, directed duties, requests, licenses,
authorizations and permits of, and agreements with, any Governmental Authority,
in each case whether or not having the force of law, including, without
limitation all Environmental Laws.

 

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

 

“Lender
Party” means the Administrative Agent and each Lender.

 

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

 

12

 

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

 

“Loan”
means an extension of credit by a Lender to a Borrower under Article II
in the form of a Committed Loan, a Bid Loan or a Swing Line Loan.

 

“Loan
Documents” means this Agreement (including the Company Guaranty), each
Designated Borrower Request and Assumption Agreement, each Note, each Request
for Borrowing and the Fee Letter.

 

“Loan
Parties” means, collectively, the Company and each Designated Borrower.

 

“Mandatory
Cost” means, with respect to any period, the percentage rate per annum
determined in accordance with Schedule 1.01.

 

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

 

“Maturity
Date” means the third anniversary of the Closing Date.

 

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

 

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

 

“Net
Tangible Assets” means, as at any particular date of determination, the
total amount of assets (less applicable reserves and other properly deductible
items ) after deducting therefrom (a) all current liabilities (excluding any
thereof which are by their terms extendible or renewable at the option of the
obligor thereon to a time more than 12 months after the time as of which the
amount thereof is being computed) and (b) all goodwill, trade names,
trademarks, patents, unamortized debt discount and expense and other like
intangible assets, as set forth in the most recent balance sheet of the Company
and its Subsidiaries and computed in accordance with GAAP.

 

“Note”
means a promissory note made by a Borrower in favor of a Lender evidencing
Loans made by such Lender to such Borrower, substantially in the form of Exhibit
C.

 

13

 

“Obligations”
means all advances to, and debts, liabilities, obligations, covenants and
duties of, any Loan Party arising under any Loan Document or otherwise with
respect to any Loan, whether direct or indirect (including those acquired by
assumption), absolute or contingent, due or to become due, now existing or
hereafter arising and including interest and fees that accrue after the
commencement by or against any Loan Party or any Affiliate thereof of any
proceeding under any Debtor Relief Laws naming such Person as the debtor in
such proceeding, regardless of whether such interest and fees are allowed
claims in such proceeding.

 

“Off
Balance Sheet Obligation” means the monetary obligation of a Person under
(a) a so-called synthetic, off-balance sheet or tax retention lease, (b) an
agreement for the use or possession of property creating obligations that do
not appear on the balance sheet of such Person but which, upon the insolvency
or bankruptcy of such Person, would be characterized as the indebtedness of
such Person (without regard to accounting treatment) or (c) an agreement for
the sale of receivables or like assets creating obligations that do not appear
on the balance sheet of such Person but which, upon the insolvency or
bankruptcy of such Person, could be characterized as the indebtedness of such
Person (without regard to accounting treatment).

 

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

 

“Other
Taxes” has the meaning specified in Section 3.01(b).

 

“Outstanding
Amount” means (i) with respect to Committed Loans and Bid Loans on any
date, the Dollar Equivalent amount of the aggregate outstanding principal
amount thereof after giving effect to any borrowings and prepayments or
repayments of such Committed Loans or Bid Loans occurring on such date; and
(ii) with respect to Swing Line Loans on any date, the aggregate outstanding
principal amount thereof after giving effect to any borrowings and prepayments
or repayments of such Swing Line Loans occurring on such date.

 

“Overnight
Rate” means, for any day, (a) with respect to any amount denominated in
Dollars, the Federal Funds Rate, and (b) with respect to any amount denominated
in an Alternative Currency, the rate of interest per annum at which overnight
deposits in the applicable Alternative Currency, in an amount approximately
equal to the amount with respect to which such rate is being determined, would
be offered for such day by a branch or Affiliate of Bank of America in the
applicable offshore interbank market for such currency to major banks in such
interbank market.

 

“Participant”
has the meaning specified in Section 11.07(d).

 

14

 

“Participating
Member State” means each state so described in any EMU Legislation.

 

“PBGC”
means the Pension Benefit Guaranty Corporation.

 

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

 

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

 

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

 

“Pro Rata
Share” means, with respect to each Lender at any time, a fraction
(expressed as a percentage, carried out to the ninth decimal place), the
numerator of which is the amount of the Commitment of such Lender at such time
and the denominator of which is the amount of the Aggregate Commitments at such
time; provided that if the commitment of each Lender to make Loans has
been terminated pursuant to Section 8.02, then the Pro Rata Share of
each Lender shall be determined based on the Pro Rata Share of such Lender
immediately prior to such termination and after giving effect to any subsequent
assignments made pursuant to the terms hereof. 
The initial Pro Rata Share of each Lender is set forth opposite the name
of such Lender on Schedule 2.01 or in the Assignment and Assumption
pursuant to which such Lender becomes a party hereto, as applicable.

 

“Register”
has the meaning set forth in Section 11.07(c).

 

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

 

“Requested
Currency” means any currency other than Dollars or an Alternative Currency.

 

“Request
for Borrowing” means (a) with respect to a Borrowing, conversion or
continuation of Committed Loans, a Committed Loan Notice and (b) with respect
to a Bid Loan, a Bid Request.

 

“Required
Lenders” means, as of any date of determination, at least two Lenders
having more than 50% of the Aggregate Commitments or, if the commitment of each
Lender to make Loans has been terminated pursuant to Section 8.02, at
least two Lenders holding in the aggregate more than 50% of the Total
Outstandings (with the aggregate amount of each Lender’s risk participation and
funded participation in Swing Line Loans being deemed “held” by such Lender for
purposes of this definition); provided that the Commitment of, and the
portion of the Total Outstandings held or deemed held by, any Defaulting Lender
shall be excluded for purposes of making a determination of Required Lenders.

 

15

 

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

 

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

 

“Revaluation
Date” means with respect to any Loan, each of the following:  (i) each date of a Borrowing of a
Eurocurrency Rate Loan denominated in an Alternative Currency or a Requested
Currency, (ii) each date of a continuation of a Eurocurrency Rate Loan denominated
in an Alternative Currency pursuant to Section 2.02; and (iii) such
additional dates as (A) the Administrative Agent shall determine for the
purposes of determining the Alternative Currency Equivalent or Dollar
Equivalent amounts of Borrowings and Outstanding Amounts as contemplated hereunder
or (B) the Required Lenders shall require.

 

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

 

“Same Day
Funds” means (a) with respect to disbursements and payments in Dollars, immediately
available funds, (b) with respect to disbursements and payments in an
Alternative Currency, same day or other funds as may be determined by the
Administrative Agent to be customary in the place of disbursement or payment
for the settlement of international banking transactions in the relevant
Alternative Currency and (c) with respect to disbursements and payment in
connection with a Bid Loan made by a Bid Loan Lender in any Requested Currency,
same day or other funds as may be determined by such Bid Loan Lender to be
customary in the place of disbursement or payment for the settlement of
international banking transactions in such Requested Currency.

 

“Screen
Rate” means, for any Interest Period:

 

(a)                                the
rate per annum equal to the rate determined by the Administrative Agent to be
the offered rate that appears on the page of the Telerate screen (or any
successor thereto) that displays an average British Bankers Association
Interest Settlement Rate for deposits in the relevant currency (for delivery on
the first day of such Interest Period) with a term equivalent to such Interest
Period, determined as of approximately 11:00 a.m. (London time) two Business
Days prior to the first day of such Interest Period; or

 

16

 

(b)                               if
the rate referenced in the preceding clause (a) does not appear on such page or
service or such page or service shall cease to be available, the rate per annum
equal to the rate determined by the Administrative Agent to be the offered rate
on such other page or other service that displays an average British Bankers
Association Interest Settlement Rate for deposits in the relevant currency (for
delivery on the first day of such Interest Period) with a term equivalent to
such Interest Period, determined as of approximately 11:00 a.m. (London time)
two Business Days prior to the first day of such Interest Period.

 

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

 

“Shareholders’
Equity” means, as of any date of determination, consolidated shareholders’
equity of the Company and its Subsidiaries as of that date determined in
accordance with GAAP.

 

“SPC”
has the meaning specified in Section 11.07(h).

 

“Special
Notice Currency” means at any time an Alternative Currency, other than the
currency of a country that is a member of the Organization for Economic
Cooperation and Development at such time located in North America or Europe.

 

“Spot Rate”
for a currency means the rate determined by the Administrative Agent to be the
rate quoted by the Person acting in the capacity of a foreign exchange trader
for the Administrative Agent hereunder as the spot rate for the purchase by
such Person of such currency with another currency through its principal
foreign exchange trading office at approximately 11:00 a.m. on the date two
Business Days prior to the date as of which the foreign exchange computation is
made; provided  that the Administrative Agent may obtain
such spot rate from another financial institution designated by the
Administrative Agent if the Person acting in the capacity of a foreign exchange
trader for the Administrative Agent hereunder does not have as of the date of
determination a spot buying rate for any such currency.

 

“Sterling”
and “£” mean the lawful currency of the United Kingdom.

 

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

 

“Swap
Contract” means (a) any and all rate swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity
options, forward commodity contracts, equity or equity index swaps or options,
bond or bond price or bond index swaps or options or forward bond or forward
bond price or forward bond index transactions, interest rate options, forward
foreign exchange transactions, cap transactions, floor 

 

17

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Swing Line
Sublimit” means an amount equal to the lesser of (a) $50,000,000 and (b)
the Aggregate Commitments.  The Swing
Line Sublimit is part of, and not in addition to, the Aggregate Commitments.

 

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

 

“Taxes”
has the meaning specified in Section 3.01(a).

 

“Threshold
Amount” means $50,000,000.

 

“Total
Outstandings” means the aggregate Outstanding Amount of all Loans.

 

18

 

“Type”
means (a) with respect to a Committed Loan, its character as a Base Rate Loan
or Eurocurrency Rate Loan, and (b) with respect to a Bid Loan, its character as
an Absolute Rate Loan or a Eurocurrency Margin Bid Loan.

 

“Unfunded
Pension Liability” means the excess of a Pension Plan’s benefit liabilities
under Section 4001(a)(16) of ERISA, over the current value of that Pension
Plan’s assets, determined in accordance with the assumptions used for funding
the Pension Plan pursuant to Section 412 of the Code for the applicable plan
year.

 

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

 

“Yen”
and “¥” mean the lawful currency of Japan.

 

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

 

(a)                                  The
meanings of defined terms are equally applicable to the singular and plural
forms of the defined terms.

 

(b)                                 (i)  The words “herein,” “hereto,”
“hereof” and “hereunder” and words of similar import when used in
any Loan Document shall refer to such Loan Document as a whole and not to any
particular provision thereof.

 

(ii)                                  Article, Section,
Exhibit and Schedule references are to the Loan Document in which such
reference appears.

 

(iii)                               The term “including”
is by way of example and not limitation.

 

(iv)                              The term “documents”
includes any and all instruments, documents, agreements, certificates, notices,
reports, financial statements and other writings, however evidenced, whether in
physical or electronic form.

 

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

 

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

 

(e)                                  All
references to any Person shall also refer to the successors and assigns of such
Person permitted hereunder.

 

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

 

19

 

time, applied in a manner
consistent with that used in preparing the Audited Financial Statements, except
as otherwise specifically prescribed herein.

 

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

 

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

 

1.05                        References to Agreements and Laws.  Unless otherwise expressly provided herein,
(a) references to Organization Documents, agreements (including the Loan
Documents) and other contractual instruments shall be deemed to include all
subsequent amendments, restatements, extensions, supplements and other
modifications thereto, but only to the extent that such amendments,
restatements, extensions, supplements and other modifications are not
prohibited by any Loan Document; and (b) references to any Law shall include
all statutory and regulatory provisions consolidating, amending, replacing,
supplementing or interpreting such Law.

 

1.06                        Exchange Rates; Currency Equivalents.  (a) 
The Administrative Agent shall determine the Spot Rates as of each
Revaluation Date to be used for calculating Dollar Equivalent amounts of
Borrowings and Outstanding Amounts denominated in Alternative Currencies and
Requested Currencies.  Such Spot Rates
shall become effective as of such Revaluation Date and shall be the Spot Rates
employed in converting any amounts between the applicable currencies until the
next Revaluation Date to occur.  Except
for purposes of financial statements delivered by Loan Parties hereunder or
calculating financial covenants hereunder or except as otherwise provided
herein, the applicable amount of any currency (other than Dollars) for purposes
of the Loan Documents shall be such Dollar Equivalent amount as so determined
by the Administrative Agent.

 

(b)                                 Wherever
in this Agreement in connection with a Borrowing, or conversion, continuation
or prepayment of a Eurocurrency Rate Loan, an amount, such as a required
minimum or multiple amount, is expressed in Dollars, but such Borrowing or
Eurocurrency Rate Loan is denominated in an Alternative Currency or a Requested
Currency, such amount shall be the relevant Alternative Currency equivalent or
Requested Currency equivalent, as the case may be, of such Dollar amount
(rounded to the nearest unit of such Alternative Currency, with 0.5 of a unit
being rounded upward), as determined by the Administrative Agent.

 

20

 

1.07                        Additional Alternative Currencies.  (a) 
The Company may from time to time request that Eurocurrency Rate Loans
be made in a currency other than those specifically listed in the definition of
“Alternative Currency;” provided that such requested currency is a
lawful currency (other than Dollars) that is readily available and freely
transferable and convertible into Dollars. 
In the case of any such request with respect to the making of
Eurocurrency Rate Loans, such request shall be subject to the approval of the
Administrative Agent and the Lenders.

 

(b)                                 Any
such request shall be made to the Administrative Agent not later than 11:00
a.m., 15 Business Days prior to the date of the desired Borrowing (or such
other time or date as may be agreed by the Administrative Agent).  In the case of any such request pertaining
to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each
Lender thereof.  Each Lender (in the
case of any such request pertaining to Eurocurrency Rate Loans) shall notify
the Administrative Agent, not later than 11:00 a.m., ten Business Days after
receipt of such request whether it consents, in its sole discretion, to the
making of Eurocurrency Rate Loans in such requested currency.

 

(c)                                  Any
failure by a Lender to respond to such request within the time period specified
in the preceding sentence shall be deemed to be a refusal by such Lender to
permit Eurocurrency Rate Loans to be made in such requested currency.  If the Administrative Agent and all the
Lenders consent to making Eurocurrency Rate Loans in such requested currency,
the Administrative Agent shall so notify the Company and such currency shall
thereupon be deemed for all purposes to be an Alternative Currency hereunder
for purposes of any Committed Borrowings of Eurocurrency Rate Loans.  If the Administrative Agent shall fail to
obtain consent to any request for an additional currency under this Section
1.07, the Administrative Agent shall promptly so notify the Company.

 

1.08                        Change of Currency.  (a)  Each obligation of the Borrowers to make a
payment denominated in the national currency unit of any member state of the
European Union that adopts the Euro as its lawful currency after the date
hereof shall be redenominated into Euro at the time of such adoption (in
accordance with the EMU Legislation). 
If, in relation to the currency of any such member state, the basis of
accrual of interest expressed in this Agreement in respect of that currency
shall be inconsistent with any convention or practice in the London interbank
market for the basis of accrual of interest in respect of the Euro, such
expressed basis shall be replaced by such convention or practice with effect
from the date on which such member state adopts the Euro as its lawful
currency; provided that if any Committed Borrowing in the currency of
such member state is outstanding immediately prior to such date, such
replacement shall take effect, with respect to such Committed Borrowing, at the
end of the then current Interest Period.

 

(b)                                 Each
provision of this Agreement shall be subject to such reasonable changes of
construction as the Administrative Agent may from time to time specify to be
appropriate to reflect the adoption of the Euro by any member state of the
European Union and any relevant market conventions or practices relating to the
Euro.

 

(c)                                  Each
provision of this Agreement also shall be subject to such reasonable changes of
construction as the Administrative Agent may from time to time specify to be
appropriate to

 

21

 

reflect a change in currency of
any other country and any relevant market conventions or practices relating to
the change in currency.

 

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

 

ARTICLE II.

THE COMMITMENTS AND BORROWING

 

2.01                        Committed Loans.  Subject to the terms and conditions set
forth herein, each Lender severally agrees to make loans (each such loan, a “Committed
Loan”) to the Company or a Designated Borrower in Dollars or in one or more
Alternative Currencies from time to time, on any Business Day during the Availability
Period, in an aggregate amount not to exceed at any time outstanding the amount
of such Lender’s Commitment; provided, however, that after giving
effect to any Committed Borrowing, (i) the Total Outstandings shall not exceed
the Aggregate Commitments, (ii) the aggregate Outstanding Amount of the
Committed Loans of any Lender, plus such Lender’s Pro Rata Share of the
Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s
Commitment and (iii) the aggregate Outstanding Amount of all Committed Loans
denominated in Alternative Currencies shall not exceed the Alternative Currency
Sublimit.  Within the limits of each
Lender’s Commitment, and subject to the other terms and conditions hereof, the
Borrowers may borrow under this Section 2.01, prepay under Section
2.05, and reborrow under this Section 2.01.  Committed Loans may be Base Rate Loans or
Eurocurrency Rate Loans, as further provided herein.

 

2.02                        Borrowings, Conversions and
Continuations of Committed Loans.

 

(a)                                  Each
Committed Borrowing, each conversion of Committed Loans from one Type to the
other, and each continuation of Eurocurrency Rate Loans shall be made upon the
Company’s irrevocable notice to the Administrative Agent, which may be given by
telephone.  Each such notice must be
received by the Administrative Agent not later than 12:00 noon (i) three
Business Days prior to the requested date of any Borrowing of, conversion to or
continuation of Eurocurrency Rate Loans denominated in Dollars or of any
conversion of Eurocurrency Rate Loans denominated in Dollars to Base Rate
Committed Loans, (ii) four Business Days (or five Business Days in the
case of a Special Notice Currency)  prior
to the requested date of any Borrowing or continuation of Eurocurrency Rate
Loans denominated in Alternative Currencies, and (iii) on the requested
date of any Borrowing of Base Rate Committed Loans.  Each telephonic notice by the Company pursuant to this Section
2.02(a) must be confirmed promptly by delivery to the Administrative Agent
of a written Committed Loan Notice, appropriately completed and signed by a
Responsible Officer of the Company and, if applicable, any Designated
Borrower.  Except as provided in Sections
2.03(c) and 2.04(c), each Borrowing of, conversion to or
continuation of Eurocurrency Rate Loans shall be in a principal amount of
$5,000,000 or a whole multiple of $1,000,000 in excess thereof.  Each Committed Borrowing of or conversion to
Base Rate Committed Loans shall be in a principal amount of $500,000 or a whole
multiple of $100,000 in excess thereof. 
Each Committed Loan Notice (whether telephonic or written) shall specify
(i) whether the Company is requesting a Committed Borrowing, a conversion
of Committed Loans from one Type to the other, or a continuation of
Eurocurrency Rate Loans, (ii) the requested date of the Borrowing,
conversion or continuation,

 

22

 

as the case may be (which shall
be a Business Day), (iii) the principal amount of Committed Loans to be
borrowed, converted or continued, (iv) the Type of Committed Loans to be
borrowed or to which existing Committed Loans are to be converted, (v) if
applicable, the duration of the Interest Period with respect thereto,
(vi) the currency of the Committed Loans to be borrowed, and (vii) if
applicable, the Designated Borrower; provided, however, that if
as of the date of any Committed Loan Notice requesting a Committed Borrowing,
there are Swing Line Loans outstanding, the Company shall be deemed to have
requested that a portion of the requested Committed Loans in a principal amount
equal to the outstanding principal amount of such Swing Line Loans be
denominated in Dollars.  If the Company
fails to specify a currency in a Committed Loan Notice requesting a Borrowing,
then the Committed Loans so requested shall be made in Dollars.  If the Company fails to specify a Type of
Committed Loan in a Committed Loan Notice or if the Company fails to give a
timely notice requesting a conversion or continuation, then the applicable
Committed Loans shall be made as, or converted to, Base Rate Loans; provided,
however, that in the case of a failure to timely request a continuation
of Committed Loans denominated in an Alternative Currency, such Loans shall be
continued as Eurocurrency Rate Loans in their original currency with an
Interest Period of one month.  Any
automatic conversion to Base Rate Loans shall be effective as of the last day
of the Interest Period then in effect with respect to the applicable
Eurocurrency Rate Loans.  If the Company
requests a Borrowing of, conversion to, or continuation of Eurocurrency Rate
Loans in any such Committed Loan Notice, but fails to specify an Interest
Period, it will be deemed to have specified an Interest Period of one month.  No Committed Loan may be converted into or
continued as a Committed Loan denominated in a different currency, but instead
must be prepaid in the original currency of such Committed Loan and reborrowed
in the other currency.

 

(b)                                 Following
receipt of a Committed Loan Notice, the Administrative Agent shall promptly
notify each Lender of the amount (and currency) of its Pro Rata Share of the
applicable Committed Loans, and if no timely notice of a conversion or
continuation is provided by the Company, the Administrative Agent shall notify
each Lender of the details of any automatic conversion to Base Rate Loans or
continuation of Committed Loans denominated in a currency other than Dollars,
in each case as described in the preceding subsection.  In the case of a Committed Borrowing, each
Lender shall make the amount of its Committed Loan available to the
Administrative Agent in Same Day Funds at the Administrative Agent’s Office for
the applicable currency not later than 2:00 p.m., in the case of any Committed
Loan denominated in Dollars, and not later than the Applicable Time specified
by the Administrative Agent in the case of any Committed Loan in an Alternative
Currency, in each case on the Business Day specified in the applicable
Committed Loan Notice.  Upon
satisfaction of the applicable conditions set forth in Section 4.02
(and, if such Borrowing is the initial Borrowing, Section 4.01), the
Administrative Agent shall make all funds so received available to the Company
or the other applicable Borrower in like funds as received by the
Administrative Agent either by (i) crediting the account of such Borrower
on the books of Bank of America with the amount of such funds or (ii) wire
transfer of such funds, in each case in accordance with instructions provided
to (and reasonably acceptable to) the Administrative Agent by the Company; provided,
however, that if, on the date the Committed Loan Notice with respect to
such Borrowing is given by the Company there are Swing Line Loans outstanding,
then the proceeds of such Borrowing shall be applied, first, to the
payment in full of such Swing Line Loans, and second, to the Borrowers
as provided above.

 

23

 

(c)                                  Except
as otherwise provided herein, a Eurocurrency Rate Committed Loan may be
continued or converted only on the last day of an Interest Period for such
Eurocurrency Rate Committed Loan. 
During the existence of a Default, no Loans may be requested as,
converted to or continued as Eurocurrency Rate Committed Loans (whether in
Dollars or any Alternative Currency) without the consent of the Required
Lenders; provided, however, that without the consent of the
Required Lenders any Eurocurrency Rate Committed Loans denominated in an
Alternative Currency may be continued only for a one month Interest Period at
any time that a Default has occurred and is continuing and no Event of Default
has occurred and is continuing.  At any
time that an Event of Default has occurred and is continuing, the Required
Lenders may demand that any or all of the then outstanding Eurocurrency Rate
Committed Loans denominated in an Alternative Currency be prepaid, or
redenominated into Dollars in the amount of the Dollar Equivalent thereof, on
the last day of the then current Interest Period with respect thereto.

 

(d)                                 The
Administrative Agent shall promptly notify the Company and the Lenders of the
interest rate applicable to any Interest Period for Eurocurrency Rate Committed
Loans upon determination of such interest rate.  The determination of the Eurocurrency Rate by the Administrative
Agent shall be conclusive in the absence of manifest error.  At any time that Base Rate Loans are
outstanding, the Administrative Agent shall notify the Company and the Lenders
of any change in Bank of America’s prime rate used in determining the Base Rate
promptly following the public announcement of such change.

 

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

 

(f)                                    On
the date on which the aggregate unpaid principal amount of Eurocurrency Rate
Committed Loans comprising any Borrowing shall be reduced, by payment or
prepayment or otherwise, to less than $5,000,000, such Committed Loans shall,
on the last day of the then existing Interest Period therefor, (A) if such
Eurocurrency Rate Committed Loans are denominated in Dollars, automatically be
converted into Base Rate Committed Loans, and (B) if such Eurocurrency Rate
Committed Loans are denominated in any Committed Currency (other than Dollars),
be repaid by the Borrower.

 

2.03                        Bid Loans.

 

(a)                                  General.  Subject to the terms and conditions set
forth herein, each Lender agrees that the Company may from time to time request
the Lenders to submit offers to make loans (each such loan, a “Bid Loan”)
to the Company or a Designated Borrower in Dollars, in one or more Alternative
Currencies or in one or more Requested Currencies prior to the Maturity Date
pursuant to this Section 2.03; provided, however, that
after giving effect to any Bid Borrowing, (i) the Total Outstandings shall not
exceed the Aggregate Commitments, (ii) the aggregate Outstanding Amount of all
Bid Loans denominated in a Requested Currency shall not exceed the Bid Loan
Requested Currency Sublimit and (iii) the aggregate Outstanding Amount of Loans
denominated in an Alternative Currency shall not exceed the Alternative
Currency Sublimit.  There shall not be
more than five different Interest Periods in effect with respect to Bid Loans
at any time.

 

24

 

(b)                                 Requesting
Competitive Bids.  The Company may
request the submission of Competitive Bids by delivering a Bid Request to the
Administrative Agent not later than 12:00 noon (i) one Business Day prior to
the requested date of any Bid Borrowing that is to consist of Absolute Rate
Loans, or (ii) five Business Days prior to the requested date of any Bid
Borrowing that is to consist of Eurocurrency Margin Bid Loans.  Each Bid Request shall specify (i) the
requested date of the Bid Borrowing (which shall be a Business Day), (ii) the
aggregate principal amount of Bid Loans requested, (iii) the Type of Bid Loans
requested, (iv) the currency of the requested Bid Loans, (v) if applicable, the
Designated Borrower requesting such Bid Loans, (vi) the account of the Company
or the applicable Designated Borrower to which such Bid Loan should be funded,
and (vii) the duration of the Interest Period with respect thereto, and shall
be signed by a Responsible Officer of the Company and, if applicable, the
Designated Borrower requesting such Bid Loans. 
Each Bid Borrowing that is to consist of Absolute Rate Loans may only be
denominated in Dollars.  No Bid Request
shall contain a request for (i) more than one Type of Bid Loan or (ii) Bid
Loans having more than three different Interest Periods.  Unless the Administrative Agent otherwise
agrees in its sole and absolute discretion, the Company may not submit a Bid
Request if it has submitted another Bid Request within the prior five Business
Days.

 

(c)                                  Submitting
Competitive Bids.

 

(i)                                     The Administrative
Agent shall promptly notify each Lender of each Bid Request received by it from
the Company and the contents of such Bid Request.

 

(ii)                                  Each Lender may (but
shall have no obligation to) submit a Competitive Bid containing an offer to
make one or more Bid Loans in response to such Bid Request.  Such Competitive Bid must be delivered to
the Administrative Agent not later than 10:30 a.m. (A) on the requested date of
any Bid Borrowing that is to consist of Absolute Rate Loans, and (B) four
Business Days prior to the requested date of any Bid Borrowing that is to
consist of Eurocurrency Margin Bid Loans; provided, however, that
any Competitive Bid submitted by Bank of America in its capacity as a Lender in
response to any Bid Request must be submitted to the Administrative Agent not
later than 10:15 a.m. on the date on which Competitive Bids are required to be
delivered by the other Lenders in response to such Bid Request.  Each Competitive Bid shall specify (1) the
proposed date of the Bid Borrowing; (2) the principal amount of each Bid Loan
for which such Competitive Bid is being made, which principal amount (x) may be
equal to, greater than or less than the Commitment of the bidding Lender, and
(y) may not exceed the principal amount of Bid Loans for which Competitive Bids
were requested; (3) if the proposed Bid Borrowing is to consist of Absolute
Rate Bid Loans, the Absolute Rate offered for each such Bid Loan and the
Interest Period applicable thereto; (4) if the proposed Bid Borrowing is to
consist of Eurocurrency Margin Bid Loans, the Eurocurrency Bid Margin with
respect to each such Eurocurrency Margin Bid Loan and the Interest Period
applicable thereto; (5) the identity of the bidding Lender; (6) the account of
such Lender to which payments of principal and interest in respect of such Bid
Loan are to be paid, and (7) if applicable, the Applicable Time for borrowing
and payment of such Bid Loan.

 

(iii)                               Any Competitive Bid
shall be disregarded if it (A) is received after the applicable time specified
in clause (ii) above, (B) is not substantially in the form of a

 

25

 

Competitive Bid as specified herein, (C) contains qualifying,
conditional or similar language, (D) proposes terms other than or in addition
to those set forth in the applicable Bid Request, or (E) is otherwise not
responsive to such Bid Request.  Any
Lender may correct a Competitive Bid containing a manifest error by submitting
a corrected Competitive Bid (identified as such) not later than the applicable
time required for submission of Competitive Bids.  Any such submission of a corrected Competitive Bid shall
constitute a revocation of the Competitive Bid that contained the manifest
error.  The Administrative Agent may,
but shall not be required to, notify any Lender of any manifest error it
detects in such Lender’s Competitive Bid.

 

(iv)                              Subject only to the
provisions of Sections 3.02, 3.03 and 4.02 and clause
(iii) above, each Competitive Bid shall be irrevocable.

 

(d)                                 Notice
to Company of Competitive Bids.  Not
later than 11:00 a.m. (i) on the requested date of any Bid Borrowing that is to
consist of Absolute Rate Loans, or (ii) four Business Days prior to the
requested date of any Bid Borrowing that is to consist of Eurocurrency Margin
Bid Loans, the Administrative Agent shall notify the Company of the identity of
each Lender that has submitted a Competitive Bid that complies with Section
2.03(c) and of the terms of the offers contained in each such Competitive
Bid.

 

(e)                                  Acceptance
of Competitive Bids.  Not later than
11:30 a.m. (i) on the requested date of any Bid Borrowing that is to consist of
Absolute Rate Loans, and (ii) four Business Days prior to the requested date of
any Bid Borrowing that is to consist of Eurocurrency Margin Bid Loans, the
Company shall notify the Administrative Agent of its acceptance or rejection of
the offers notified to it pursuant to Section 2.03(d) on behalf of
itself or any applicable Designated Borrower. 
The Company shall be under no obligation to accept any Competitive Bid
and may choose to reject all Competitive Bids. 
In the case of acceptance, such notice shall be in writing and shall
specify the aggregate principal amount of Competitive Bids for each Interest
Period that is accepted.  The Company
may accept any Competitive Bid in whole or in part; provided that:

 

(i)                                     the aggregate
principal amount of each Bid Borrowing may not exceed the applicable amount set
forth in the related Bid Request;

 

(ii)                                  the acceptance of
offers may be made only on the basis of ascending Absolute Rates or
Eurocurrency Bid Margins within each Interest Period; and

 

(iii)                               the Company may not
accept any offer that is described in Section 2.03(c)(iii) or that
otherwise fails to comply with the requirements hereof.

 

(f)                                    Procedure
for Identical Bids.  If two or more
Lenders have submitted Competitive Bids at the same Absolute Rate or Eurocurrency
Bid Margin, as the case may be, for the same Interest Period, and the result of
accepting all of such Competitive Bids in whole (together with any other
Competitive Bids at lower Absolute Rates or Eurocurrency Bid Margins, as the
case may be, accepted for such Interest Period in conformity with the
requirements of Section 2.03(e)(iii)) would be to cause the aggregate
outstanding principal amount of the applicable Bid Borrowing to exceed the
amount specified therefor in the related Bid Request, then, unless

 

26

otherwise agreed by the Company, the Administrative Agent and such
Lenders, such Competitive Bids shall be accepted as nearly as possible in
proportion to the amount offered by each such Lender in respect of such
Interest Period.

 

(g)                                 Notice
to Lenders of Acceptance or Rejection of Bids.  The Administrative Agent shall promptly notify each Lender having
submitted a Competitive Bid whether or not its offer has been accepted and, if
its offer has been accepted, of the amount of the Bid Loan or Bid Loans to be
made by it on the date of the applicable Bid Borrowing.  Any Competitive Bid or portion thereof that
is not accepted by the Company by the applicable time specified in Section
2.03(e) shall be deemed rejected.

 

(h)                                 Notice
of Eurocurrency Rate.  If any Bid
Borrowing is to consist of Eurocurrency Margin Loans, the Administrative Agent
shall determine the Eurocurrency Rate for the relevant Interest Period, and
promptly after making such determination, shall notify the Company and the
Lenders that will be participating in such Bid Borrowing of such Eurocurrency
Rate.

 

(i)                                     Funding
of Bid Loans.  Each Lender that has
received (A) notice pursuant to Section 2.03(g) that all or a portion of
its Competitive Bid has been accepted by the Company and (B) notice from the
Administrative Agent that the conditions set forth in Section 4.02 have
been satisfied, shall make the amount of its Bid Loan(s) available directly to
the applicable Borrower in immediately available funds at such account as set
forth in the related Bid Request not later than 1:00 p.m., in the case of Bid
Loans denominated in Dollars, or the Applicable Time, in the case of Bid Loans
denominated in an Alternative Currency or a Requested Currency, on the date of
the requested Bid Borrowing.

 

(j)                                     Payment
of Bid Loans.  Each Borrower which
has received a Bid Loan from a Lender shall make all payments of principal and
interest in respect of such Bid Loan directly to such Lender as provided in Section
2.12(a)(v).

 

(k)                                  Notice
of Range of Bids.  After each
Competitive Bid auction pursuant to this Section 2.03, the
Administrative Agent shall notify each Lender that submitted a Competitive Bid
in such auction of the ranges of bids submitted (without the bidder’s name) and
accepted for each Bid Loan and the aggregate amount of each Bid Borrowing.

 

2.04                        Swing Line Loans.

 

(a)                                  The
Swing Line.  Subject to the terms
and conditions set forth herein, the Swing Line Lender may at its option make
loans in Dollars (each such loan, a “Swing Line Loan”) to the Company
from time to time on any Business Day during the Availability Period in an
aggregate amount not to exceed at any time outstanding the amount of the Swing
Line Sublimit, notwithstanding the fact that such Swing Line Loans, when
aggregated with the Pro Rata Share of the Outstanding Amount of Committed Loans
of the Lender acting as Swing Line Lender, may exceed the amount of such
Lender’s Commitment; provided, however, that after giving effect
to any Swing Line Loan, (i) the Total Outstandings shall not exceed the
Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the
Committed Loans of any Lender, plus such Lender’s Pro Rata Share of the
Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s
Commitment, and provided, further, that the Company shall not

 

27

 

use the proceeds of any Swing
Line Loan to refinance any outstanding Swing Line Loan.  Within the foregoing limits, and subject to
the other terms and conditions hereof, the Company may borrow under this Section
2.04, prepay under Section 2.05, and reborrow under this Section
2.04.  Each Swing Line Loan shall be
a Base Rate Loan.  Immediately upon the
making of a Swing Line Loan, each Lender shall be deemed to, and hereby
irrevocably and unconditionally agrees to, purchase from the Swing Line Lender
a risk participation in such Swing Line Loan in an amount equal to the product
of such Lender’s Pro Rata Share times the amount of such Swing Line
Loan.

 

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

 

(c)                                  Refinancing
of Swing Line Loans.

 

(i)                                     The Swing Line
Lender at any time in its sole and absolute discretion may request, on behalf
of the Company (which hereby irrevocably authorizes the Swing Line Lender to so
request on its behalf), that each Lender make a Base Rate Committed Loan in an
amount equal to such Lender’s Pro Rata Share of the amount of Swing Line Loans
then outstanding.  Such request shall be
made in writing (which written request shall be deemed to be a Committed Loan
Notice for purposes hereof) and in accordance with the requirements of Section
2.02, without regard to the minimum and multiples specified therein for the
principal amount of Base Rate Loans, but subject to the unutilized portion of
the Aggregate Commitments and the conditions set forth in Section 4.02.  The Swing Line Lender shall furnish the
Company with a copy of the applicable Committed Loan Notice promptly after
delivering such notice to the Administrative Agent.  Each Lender shall make an amount equal to its Pro Rata Share of
the amount specified in such

 

28

 

Committed Loan Notice available to the Administrative Agent in Same Day
Funds for the account of the Swing Line Lender at the Administrative Agent’s
Office for Dollar-denominated payments not later than 1:00 p.m. on the day
specified in such Committed Loan Notice, whereupon, subject to Section
2.04(c)(ii), each Lender that so makes funds available shall be deemed to
have made a Base Rate Committed Loan to the Company in such amount.  The Administrative Agent shall remit the
funds so received to the Swing Line Lender.

 

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

 

(iii)                               If any Lender fails to
make available to the Administrative Agent for the account of the Swing Line
Lender any amount required to be paid by such Lender pursuant to the foregoing
provisions of this Section 2.04(c) by the time specified in Section
2.04(c)(i), the Swing Line Lender shall be entitled to recover from such
Lender (acting through the Administrative Agent), on demand, such amount with
interest thereon for the period from the date such payment is required to the
date on which such payment is immediately available to the Swing Line Lender at
a rate per annum equal to the applicable Overnight Rate from time to time in
effect.  A certificate of the Swing Line
Lender submitted to any Lender (through the Administrative Agent) with respect
to any amounts owing under this clause (iii) shall be conclusive absent
manifest error.

 

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

 

(d)                                 Repayment
of Participations.

 

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

 

29

 

(ii)                                  If any payment
received by the Swing Line Lender in respect of principal or interest on any
Swing Line Loan is required to be returned by the Swing Line Lender under any
of the circumstances described in Section 11.06 (including pursuant to
any settlement entered into by the Swing Line Lender in its discretion), each
Lender shall pay to the Swing Line Lender its Pro Rata Share thereof on demand
of the Administrative Agent, plus interest thereon from the date of such demand
to the date such amount is returned, at a rate per annum equal to the
applicable Overnight Rate.  The
Administrative Agent will make such demand upon the request of the Swing Line
Lender.

 

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

 

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

 

2.05                        Prepayments.  (a) 
Each Borrower may, upon notice from the Company to the Administrative
Agent, at any time or from time to time voluntarily prepay Committed Loans in
whole or in part without premium or penalty; provided that (i) such
notice must be received by the Administrative Agent not later than 11:00 a.m.
(A) three Business Days prior to any date of prepayment of Eurocurrency Rate
Committed Loans denominated in Dollars, (B) four Business Days (or five, in the
case of prepayment of Loans denominated in Special Notice Currencies) prior to
any date of prepayment of Eurocurrency Rate Loans denominated in Alternative
Currencies, and (C) on the date of prepayment of Base Rate Committed Loans;
(ii) any prepayment of Eurocurrency Rate Committed Loans denominated in Dollars
shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000
in excess thereof; (iii) any prepayment Eurocurrency Rate Loans in Alternative
Currencies shall be in a minimum principal amount of $5,000,000 or a whole
multiple of $1,000,000 in excess thereof; and (iv) any prepayment of Base
Rate Committed Loans shall be in a principal amount of $500,000 or a whole
multiple of $100,000 in excess thereof or, in each case, if less, the entire
principal amount thereof then outstanding. 
Each such notice shall specify the date and amount of such prepayment
and the Type(s) of Committed Loans to be prepaid and, if Eurocurrency Loans are
to be prepaid, the Interest Period(s) of such Loans.  The Administrative Agent will promptly notify each Lender of its
receipt of each such notice, and of the amount of such Lender’s Pro Rata Share
of such prepayment.  If such notice is
given by the Company, the applicable Borrower shall irrevocably make such
prepayment and the payment amount specified in such notice shall be due and
payable on the date specified therein. 
Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all
accrued interest on the amount prepaid, together with any additional amounts
required pursuant to Section 3.05. 
Each such prepayment shall be applied to the Committed Loans of the
Lenders in accordance with their respective Pro Rata Shares.

 

(b)                                 No
Bid Loan may be prepaid without the prior consent of the applicable Bid Loan
Lender.

 

30

 

(c)                                  The
Company may, upon notice to the Swing Line Lender (with a copy to the
Administrative Agent), at any time or from time to time, voluntarily prepay
Swing Line Loans in whole or in part without premium or penalty; provided
that (i) such notice must be received by the Swing Line Lender and the
Administrative Agent not later than 1:00 p.m. on the date of the prepayment,
and (ii) any such prepayment shall be in a minimum principal amount of
$100,000.  Each such notice shall
specify the date and amount of such prepayment.  If such notice is given by the Company, the Company shall make
such prepayment and the payment amount specified in such notice shall be due
and payable on the date specified therein.

 

(d)                                 If
for any reason the Total Outstandings at any time exceed the Aggregate
Commitments then in effect, the Borrowers shall immediately prepay Loans in an
aggregate amount equal to such excess.

 

(e)                                  If
the Administrative Agent notifies the Company at any time that the Outstanding
Amount of all Loans denominated in Alternative Currencies at such time exceeds
an amount equal to 105% of the Alternative Currency Sublimit then in effect,
then, within two Business Days after receipt of such notice, the Borrowers
shall prepay Loans in an aggregate amount sufficient to reduce such Outstanding
Amount as of such date of payment  to an amount not to exceed 100% of the
Alternative Currency Sublimit then in effect.

 

(f)                                    No
optional prepayment of Committed Loans denominated in an Alternative Currency
may be made other than on the last day of the applicable Interest Period for
such Committed Loans, unless the Lenders consent thereto.

 

2.06                        Termination or Reduction of
Commitments.  The Company may, upon notice to the
Administrative Agent, terminate the Aggregate Commitments, or from time to time
permanently reduce the Aggregate Commitments; provided that (i) any such
notice shall be received by the Administrative Agent not later than 11:00 a.m.
five Business Days prior to the date of termination or reduction, (ii) any such
partial reduction shall be in an aggregate amount of $10,000,000 or any whole
multiple of $1,000,000 in excess thereof, (iii) the Company shall not terminate
or reduce the Aggregate Commitments if, after giving effect thereto and to any
concurrent prepayments hereunder, the Total Outstandings would exceed the
Aggregate Commitments, and (iv) if, after giving effect to any reduction of the
Aggregate Commitments, the Swing Line Sublimit exceeds the amount of the
Aggregate Commitments, the Swing Line Sublimit shall be automatically reduced
by the amount of such excess.  The
Administrative Agent will promptly notify the Lenders of any such notice of
termination or reduction of the Aggregate Commitments.  Any reduction of the Aggregate Commitments
shall be applied to the Commitment of each Lender according to its Pro Rata
Share.  All facility and utilization
fees accrued until the effective date of any termination of the Aggregate
Commitments shall be paid on the effective date of such termination.

 

2.07                        Repayment of Loans.  (a)  Each Borrower shall repay to the Lenders on
the Maturity Date the aggregate principal amount of Committed Loans made to
such Borrower outstanding on such date.

 

(b)                                 Each
Borrower shall repay each Bid Loan made to such Borrower on the last day of the
Interest Period in respect thereof.

 

31

 

(c)                                  The
Company shall repay each Swing Line Loan on the earlier to occur of (i) the
date five Business Days after such Loan is made and (ii) the Maturity Date.

 

2.08                        Interest.  (a) 
Subject to the provisions of subsection (b) below, (i) each Eurocurrency
Rate Committed Loan shall bear interest on the outstanding principal amount
thereof for each Interest Period at a rate per annum equal to the Eurocurrency
Rate for such Interest Period plus the Applicable Rate plus (in
the case of a Eurocurrency Rate Loan of any Lender which is lent from a Lending
Office in the United Kingdom or a Participating Member State) the Mandatory
Cost; (ii) each Base Rate Committed Loan shall bear interest on the outstanding
principal amount thereof from the applicable borrowing date at a rate per annum
equal to the Base Rate; (iii) each Bid Loan shall bear interest on the
outstanding principal amount thereof for the Interest Period therefore at a
rate per annum equal to the Eurocurrency Rate for such Interest Period plus (or
minus) the Eurocurrency Bid Margin, or at the Absolute Rate for such Interest
Period, as the case may be; and (iv) each Swing Line Loan shall bear interest on
the outstanding principal amount thereof from the applicable borrowing date at
a rate per annum equal to the Base Rate.

 

(b)                                 If
any amount payable by any Borrower under any Loan Document is not paid when due
(after giving effect to any applicable grace periods), whether at stated
maturity, by acceleration or otherwise, such amount shall thereafter bear
interest at a fluctuating interest rate per annum at all times equal to the
Default Rate to the fullest extent permitted by applicable Laws.  Furthermore, upon the request of the
Required Lenders, while any Event of Default exists, each Borrower shall pay
interest on the principal amount of all outstanding Obligations at a
fluctuating interest rate per annum at all times equal to the Default Rate to
the fullest extent permitted by applicable Laws.  Accrued and unpaid interest on past due amounts (including
interest on past due interest) shall be due and payable upon demand.

 

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

 

2.09                        Fees.

 

(a)                                  Facility
Fee.  The Company shall pay to the
Administrative Agent for the account of each Lender in accordance with its Pro
Rata Share, a facility fee in Dollars equal to the Applicable Rate times
the actual daily amount of the Aggregate Commitments (or, if the Aggregate
Commitments have terminated, on the Outstanding Amount of all Committed Loans
and Swing Line Loans), regardless of usage. 
The facility fee shall accrue at all times during the Availability
Period (and thereafter so long as any Committed Loans or Swing Line Loans
remain outstanding), including at any time during which one or more of the
conditions in Article IV is not met. 
The facility fee shall be due and payable quarterly in arrears on the
last Business Day of each March, June, September and December, commencing with
the first such date to occur after the Closing Date, and on the Maturity Date
(and, if applicable, thereafter on demand). 
On each such payment date all facility fee which has accrued to but
excluding any such payment date

 

32

 

shall be due and payable.  The facility fee shall be calculated
quarterly in arrears, and if there is any change in the Applicable Rate during
any quarter, the actual daily amount shall be computed and multiplied by the
Applicable Rate separately for each period during such quarter that such
Applicable Rate was in effect.

 

(b)                                 Utilization
Fee.  The Company shall pay to the
Administrative Agent for the account of each Lender in accordance with its Pro
Rata Share, a utilization fee in Dollars equal to the Applicable Rate times
the Total Outstandings on each day that the Total Outstandings exceed 33% of
the actual daily amount of the Aggregate Commitments then in effect (or, if
terminated, in effect immediately prior to such termination).  The utilization fee shall be due and payable
quarterly in arrears on the last Business Day of each March, June, September
and December, commencing with the first such date to occur after the Closing
Date, and on the Maturity Date.  On each
such payment date all utilization fee which has accrued to but excluding any
such payment date shall be due and payable. 
The utilization fee shall be calculated quarterly in arrears and if
there is any change in the Applicable Rate during any quarter, the daily amount
shall be computed and multiplied by the Applicable Rate for each period during
which such Applicable Rate was in effect. 
The utilization fee shall accrue at all times, including at any time
during which one or more of the conditions in Article IV is not met.

 

(c)                                  Other
Fees.  (i)  The
Company shall pay to the Arranger and the Administrative Agent for their own
respective accounts, in Dollars, fees in the amounts and at the times specified
in the Fee Letter.  Such fees shall be
fully earned when paid and shall not be refundable for any reason whatsoever; provided,
however, that such fees in respect of each Bid Request shall be fully
earned and accrue upon the delivery of such Bid Request by the Company pursuant
to Section 2.03(b).

 

(ii)                                  The Company shall pay
to the Lenders, in Dollars, such fees as shall have been separately agreed upon
in writing in the amounts and at the times so specified.  Such fees shall be fully earned when paid
and shall not be refundable for any reason whatsoever.

 

2.10                        Computation of Interest and Fees.  All computations of interest for Base Rate
Loans when the Base Rate is determined by Bank of America’s “prime rate” shall
be made on the basis of a year of 365 or 366 days, as the case may be, and
actual days elapsed.  All other
computations of fees and interest shall be made on the basis of a 360-day year
and actual days elapsed (which results in more fees or interest, as applicable,
being paid than if computed on the basis of a 365-day year), or, in the case of
interest in respect of Committed Loans denominated in Alternative Currencies as
to which market practice differs from the foregoing, in accordance with such
market practice.  Interest shall accrue
on each Loan for the day on which the Loan is made, and shall not accrue on a
Loan, or any portion thereof, for the day on which the Loan or such portion is
paid, provided that any Loan that is repaid on the same day on which it
is made shall, subject to Section 2.12(a), bear interest for one day.

 

2.11                        Evidence of Debt.  (a) 
The Borrowings made by each Lender shall be evidenced by one or more
accounts or records maintained by such Lender and by the Administrative Agent
in the ordinary course of business.  The
accounts or records maintained by the Administrative Agent and each Lender
shall be conclusive absent manifest error of the amount of the

 

33

 

Borrowings made by the Lenders
to the Borrowers and the interest and payments thereon.  Any failure to so record or any error in
doing so shall not, however, limit or otherwise affect the obligation of the
Borrowers hereunder to pay any amount owing with respect to the
Obligations.  In the event of any
conflict between the accounts and records maintained by any Lender and the
accounts and records of the Administrative Agent in respect of such matters,
the accounts and records of the Administrative Agent shall control in the
absence of manifest error.  Upon the
request of any Lender to a Borrower made through the Administrative Agent, such
Borrower shall execute and deliver to such Lender (through the Administrative
Agent) a Note, which shall evidence such Lender’s Loans to such Borrower in
addition to such accounts or records. 
Each Lender may attach schedules to a Note and endorse thereon the date,
Type (if applicable), amount, currency and maturity of its Loans and payments
with respect thereto.

 

(b)                                 In
addition to the accounts and records referred to in subsection (a), each Lender
and the Administrative Agent shall maintain in accordance with its usual
practice accounts or records evidencing the purchases and sales by such Lender
of participations in Swing Line Loans. 
In the event of any conflict between the accounts and records maintained
by the Administrative Agent and the accounts and records of any Lender in
respect of such matters, the accounts and records of the Administrative Agent
shall control in the absence of manifest error.

 

2.12                        Payments Generally.  (a)  (i) All payments to be made by the Borrowers
shall be made without condition or deduction for any counterclaim, defense, recoupment
or setoff.  (ii) Except as otherwise
expressly provided herein and except with respect to principal of and interest
on Bid Loans and any Committed Loans denominated in an Alternative Currency,
all payments by the Borrowers hereunder shall be made to the Administrative
Agent, for the account of the respective Lenders to which such payment is owed,
at the applicable Administrative Agent’s Office in Dollars and in Same Day
Funds not later than 2:00 p.m. on the date specified herein.  (iii) Except as otherwise expressly provided
herein, all payments by the Borrowers hereunder with respect to principal and
interest on Committed Loans denominated in an Alternative Currency shall be
made to the Administrative Agent, for the account of the respective Lenders to
which such payment is owed, at the applicable Administrative Agent’s Office in
such Alternative Currency and in Same Day Funds not later than the Applicable
Time specified by the Administrative Agent on the dates specified herein.  If, for any reason, any Borrower is
prohibited by any Law from making any required payment hereunder in an
Alternative Currency, such Borrower shall make such payment in Dollars in the
Dollar Equivalent of the Alternative Currency payment amount.  The Administrative Agent will promptly
distribute to each Lender its Pro Rata Share (or other applicable share as
provided herein) of such payment in like funds as received by wire transfer to
such Lender’s Lending Office.  (iv) All
payments received by the Administrative Agent (A) after 2:00 p.m., in the case
of payments in Dollars, or (B) after the Applicable Time specified by the
Administrative Agent in the case of payments in an Alternative Currency, shall
in each case be deemed received on the next succeeding Business Day and any
applicable interest or fee shall continue to accrue.  (v) All payments by each Borrower hereunder with respect to
principal and interest on any Bid Loans made by a Lender shall be made directly
to such Lender at the account of such Lender specified in such Lender’s
Competitive Bid in Same Day Funds not later than 2:00 p.m., in the case of
payments in Dollars, or the Applicable Time specified by such Lender in its
Competitive Bid, in the case of payments in an Alternative Currency or a
Requested Currency, on the dates specified herein.  All payments received by any such Lender (A) after 2:00 pm, in
the case of payments in

 

34

 

Dollars, or (B) after the
Applicable Time specified by such Lender, in the case of payments in an
Alternative Currency or a Requested Currency, shall in each case be deemed
received on the next succeeding Business Day and any applicable interest or fee
shall continue to accrue.  Each such
Lender which receives any such payment in respect of principal or interest on
any Bid Loan shall promptly provide a written receipt thereof to both the
Company and the Administrative Agent.

 

(b)                                 If
any payment to be made by any Borrower shall come due on a day other than a
Business Day, payment shall be made on the next following Business Day, and
such extension of time shall be reflected in computing interest or fees, as the
case may be.

 

(c)                                  Unless
any Borrower or any Lender has notified the Administrative Agent, prior to the
date any payment is required to be made by it to the Administrative Agent
hereunder, that such Borrower or such Lender, as the case may be, will not make
such payment, the Administrative Agent may assume that such Borrower or such
Lender, as the case may be, has timely made such payment and may (but shall not
be so required to), in reliance thereon, make available a corresponding amount
to the Person entitled thereto.  If and
to the extent that such payment was not in fact made to the Administrative
Agent in Same Day Funds, then:

 

(i)                                     if any Borrower
failed to make such payment, each Lender shall forthwith on demand repay to the
Administrative Agent the portion of such assumed payment that was made
available to such Lender in Same Day Funds, together with interest thereon in
respect of each day from and including the date such amount was made available
by the Administrative Agent to such Lender to the date such amount is repaid to
the Administrative Agent in Same Day Funds at the applicable Overnight Rate
from time to time in effect; and

 

(ii)                                  if any Lender failed
to make such payment, such Lender shall forthwith on demand pay to the
Administrative Agent the amount thereof in Same Day Funds, together with
interest thereon for the period from the date such amount was made available by
the Administrative Agent to a Borrower to the date such amount is recovered by
the Administrative Agent (the “Compensation Period”) at a rate per annum
equal to the applicable Overnight Rate from time to time in effect. If such
Lender pays such amount to the Administrative Agent, then such amount shall
constitute such Lender’s Committed Loan or Bid Loan, as the case may be,
included in the applicable Borrowing. 
If such Lender does not pay such amount forthwith upon the
Administrative Agent’s demand therefor, the Administrative Agent may make a
demand therefor upon the applicable Borrower, and such Borrower shall pay such
amount to the Administrative Agent, together with interest thereon for the
Compensation Period at a rate per annum equal to the rate of interest
applicable to the applicable Borrowing. 
Nothing herein shall be deemed to relieve any Lender from its obligation
to fulfill its Commitment or to prejudice any rights which the Administrative
Agent or any Borrower may have against any Lender as a result of any default by
such Lender hereunder.

 

A notice of
the Administrative Agent to any Lender or Borrower with respect to any amount
owing under this subsection (c) shall be conclusive, absent manifest error.

 

35

 

(d)                                 If
any Lender makes available to the Administrative Agent funds for any Loan to be
made by such Lender to any Borrower as provided in the foregoing provisions of
this Article II, and such funds are not made available to such Borrower
by the Administrative Agent because the conditions to the applicable Borrowing
set forth in Article IV are not satisfied or waived in accordance with
the terms hereof, the Administrative Agent shall return such funds (in like
funds as received from such Lender) to such Lender, without interest.

 

(e)                                  The
obligations of the Lenders hereunder to make Committed Loans and to fund
participations in Swing Line Loans are several and not joint.  The failure of any Lender to make any
Committed Loan or to fund any such participation on any date required hereunder
shall not relieve any other Lender of its corresponding obligation to do so on
such date, and no Lender shall be responsible for the failure of any other
Lender to so make its Committed Loan or purchase its participation.

 

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

 

2.13                        Sharing of Payments.  If, other
than as expressly provided elsewhere herein, any Lender shall obtain on account
of the Committed Loans made by it, or the participations in Swing Line Loans
held by it, any payment (whether voluntary, involuntary, through the exercise
of any right of set-off, or otherwise) in excess of its ratable share (or other
share contemplated hereunder) thereof, such Lender shall immediately (a) notify
the Administrative Agent of such fact, and (b) purchase from the other Lenders
such participations in the Committed Loans made by them and/or such
subparticipations in the participations in Swing Line Loans held by them, as
the case may be, as shall be necessary to cause such purchasing Lender to share
the excess payment in respect of such Committed Loans or such participations,
as the case may be, pro rata with each of them; provided, however,
that if all or any portion of such excess payment is thereafter recovered from
the purchasing Lender under any of the circumstances described in Section
11.06 (including pursuant to any settlement entered into by the purchasing
Lender in its discretion), such purchase shall to that extent be rescinded and
each other Lender shall repay to the purchasing Lender the purchase price paid
therefor, together with an amount equal to such paying Lender’s ratable share
(according to the proportion of (i) the amount of such paying Lender’s required
repayment to (ii) the total amount so recovered from the purchasing Lender) of
any interest or other amount paid or payable by the purchasing Lender in
respect of the total amount so recovered, without further interest
thereon.  Each Borrower agrees that any
Lender so purchasing a participation from another Lender may, to the fullest
extent permitted by law, exercise all its rights of payment (including the
right of set-off, but subject to Section 11.09) with respect to such
participation as fully as if such Lender were the direct creditor of such
Borrower in the amount of such participation. 
The Administrative Agent will keep records (which shall be conclusive
and binding in the absence of manifest error) of participations purchased under
this Section and will in each case notify the Lenders following any such
purchases or repayments.  Each Lender
that purchases a participation pursuant to this Section shall from and after
such purchase have the right to give all notices, requests, demands, directions
and other communications under this Agreement with respect to the portion of
the Obligations purchased to the same extent as though the purchasing Lender
were the original owner of the Obligations purchased.

 

36

 

2.14                        Designated Borrowers.  (a)  The Company may
at any time, upon not less than 15 Business Days’ notice from the Company to
the Administrative Agent (or such shorter period as may be agreed by the
Administrative Agent in its sole discretion), designate any Subsidiary of the
Company (an “Applicant Borrower”) as a Designated Borrower to receive
Loans hereunder by delivering to the Administrative Agent (which shall promptly
deliver counterparts thereof to each Lender) a duly executed notice and
agreement in substantially the form of Exhibit F (a “Designated
Borrower Request and Assumption Agreement”).  The parties hereto acknowledge and agree that prior to any
Applicant Borrower becoming entitled to utilize the credit facilities provided
for herein the Administrative Agent shall have received such supporting resolutions,
incumbency certificates, opinions of counsel and other documents or
information, in form, content and scope reasonably satisfactory to the
Administrative Agent, as may be required by the Administrative Agent in its
sole discretion (including, without, limitation, to evaluate (i) any
withholding tax as may arise in respect of any Loans made to such Applicant
Borrower and (ii) the manner in which Eurocurrency Rate Committed Loans may be
made available to such Applicant Borrower), and Notes signed by such new
Borrowers to the extent any Lender so requires.  Promptly following receipt of all such requested resolutions,
incumbency certificates, opinions of counsel and other documents or information
from an Applicant Borrower, the Administrative Agent shall send a notice in
substantially the form of Exhibit G (a “Designated Borrower Notice”)
to the Company and the Lenders specifying the effective date upon which the
Applicant Borrower shall constitute a Designated Borrower for purposes hereof,
whereupon each of the Lenders agrees to permit such Designated Borrower to
receive Loans hereunder, on the terms and conditions set forth herein, and each
of the parties agrees that such Designated Borrower otherwise shall be a
Borrower for all purposes of this Agreement; provided that no Committed
Loan Notice may be submitted by or on behalf of such Designated Borrower until
the date five Business Days after such effective date.

 

(b)                                 The
Obligations of each Designated Borrower which is a Foreign Subsidiary shall be
several in nature.  The Obligations of
each Designated Borrower shall be guaranteed by the Company pursuant to the
Company Guaranty.

 

(c)                                  Each
Subsidiary of the Company that becomes a “Designated Borrower” pursuant to this
Section 2.14 hereby irrevocably appoints the Company as its agent for all
purposes relevant to this Agreement and each of the other Loan Documents,
including (i) the giving and receipt of notices, (ii) the execution and
delivery of all documents, instruments and certificates contemplated herein and
all modifications hereto, and (iii) the receipt of the proceeds of any Loans
made by the Lenders, to any such Designated Borrower hereunder.  Any acknowledgment, consent, direction,
certification or other action which might otherwise be valid or effective only
if given or taken by all Borrowers, or by each Borrower acting singly, shall be
valid and effective if given or taken only by the Company, whether or not any
such other Borrower joins therein.  Any
notice, demand, consent, acknowledgement, direction, certification or other communication
delivered to the Company in accordance with the terms of this Agreement shall
be deemed to have been delivered to each Designated Borrower.

 

(d)                                 The
Company may from time to time, upon not less than 5 Business Days’ notice from
the Company to the Administrative Agent (or such shorter period as may be
agreed by the Administrative Agent in its sole discretion), terminate a
Designated Borrower’s status as such, provided that there are no
outstanding Loans payable by such Designated Borrower, or other

 

37

 

amounts payable by such
Designated Borrower on account of any Loans made to it, as of the effective
date of such termination. The Administrative Agent will promptly notify the
Company and the Lenders of any such termination of a Designated Borrower.

 

ARTICLE III.

TAXES, YIELD PROTECTION AND ILLEGALITY

 

3.01                        Taxes.

 

(a)                                  Any
and all payments by the Borrowers to or for the account of the Administrative
Agent or any Lender under any Loan Document shall be made free and clear of and
without deduction for any and all present or future taxes, duties, levies,
imposts, deductions, assessments, fees, withholdings or similar charges, and
all liabilities with respect thereto, excluding, in the case of the
Administrative Agent and each Lender, taxes imposed on or measured by its
overall net income, branch profits taxes, back-up withholding taxes, and
franchise or other similar taxes imposed on it (in lieu of net income taxes),
by the jurisdiction (or any political subdivision thereof) under the Laws of
which the Administrative Agent or such Lender, as the case may be, is
organized, maintains a lending office or does business (other than doing
business solely as a result of entering into this Agreement, performing any obligations
hereunder, receiving any payments hereunder or enforcing any rights hereunder)
(all such non-excluded taxes, duties, levies, imposts, deductions, assessments,
fees, withholdings or similar charges, and liabilities being hereinafter
referred to as “Taxes”).  If any
Borrower shall be required by any Laws to deduct any Taxes from or in respect
of any sum payable under any Loan Document to the Administrative Agent or any
Lender, (i) the sum payable shall be increased as necessary so that after making
all required deductions (including deductions applicable to additional sums
payable under this Section), each of the Administrative Agent and such Lender
receives an amount equal to the sum it would have received had no such
deductions been made, (ii) such Borrower shall make such deductions, (iii) such
Borrower shall pay the full amount deducted to the relevant taxation authority
or other authority in accordance with applicable Laws, and (iv) to the extent
reasonably practicable, within 30 days after the date of such payment, such
Borrower shall furnish to the Administrative Agent (which shall forward the
same to such Lender) the original or a certified copy of a receipt evidencing
payment thereof.

 

(b)                                 In
addition, each Borrower agrees to pay any and all present or future stamp,
court or documentary taxes and any other excise or property taxes or charges or
similar levies which arise from any payment made by such Borrower under any
Loan Document or from the execution, delivery, performance, enforcement or
registration of, or otherwise with respect to, any Loan Document (hereinafter
referred to as “Other Taxes”).

 

(c)                                  If
any Borrower shall be required to deduct or pay any Taxes or Other Taxes from
or in respect of any sum payable under any Loan Document to the Administrative
Agent or any Lender, such Borrower shall also pay to the Administrative Agent
or to such Lender, as the case may be, at the time interest is paid, such
additional amount that the Administrative Agent or such Lender specifies is
necessary to preserve the after-tax yield (after factoring in all taxes,
including taxes imposed on or measured by net income) that the Administrative
Agent or such Lender would have received if such Taxes or Other Taxes had not
been imposed.

 

38

 

(d)                                 Each
Borrower agrees to indemnify the Administrative Agent and each Lender for (i)
the full amount of Taxes and Other Taxes (including any Taxes or Other Taxes
imposed or asserted by any jurisdiction on amounts payable under this Section)
paid by the Administrative Agent and such Lender, (ii) amounts payable under Section
3.01(c) and (iii) any liability (including additions to tax, penalties,
interest and expenses) arising therefrom or with respect thereto.  Payment under this subsection (d) shall be
made within 30 days after the date the Lender or the Administrative Agent makes
a written demand therefor, which demand shall be made within 90 days of the
date such Lender or the Administrative Agent pays such Taxes of Other Taxes to
the relevant Governmental Authority.

 

(e)                                  Without
limiting the obligations of the Lenders under Section 11.15 regarding
delivery of certain forms and documents to establish such Lender’s status for
U.S. withholding tax purposes, each Lender agrees promptly to deliver to the
Administrative Agent or the Company, as the Administrative Agent or the Company
shall reasonably request, on or prior to the Closing Date, and in a timely
fashion thereafter, such other documents and forms required by any relevant
taxing authorities under the Laws of any other jurisdiction, duly executed and
completed by such Lender, as are required under such Laws to confirm such
Lender’s entitlement to any available exemption from, or reduction of,
applicable withholding taxes in respect of all payments to be made to such
Lender outside of the U.S. by the Borrowers pursuant to this Agreement or
otherwise to establish such Lender’s status for withholding tax purposes in
such other jurisdiction.  Each Lender
shall promptly (i) notify the Administrative Agent of any change in
circumstances which would modify or render invalid any such claimed exemption
or reduction, and (ii) take such steps as shall not be materially
disadvantageous to it, in the reasonable judgment of such Lender, and as may be
reasonably necessary (including the re-designation of its Lending Office) to
avoid any requirement of applicable Laws of any such jurisdiction that any
Borrower make any deduction or withholding for taxes from amounts payable to
such Lender.  Additionally, each of the
Borrowers shall promptly deliver to the Administrative Agent or any Lender, as
the Administrative Agent or any Lender shall reasonably request, on or prior to
the Closing Date, and in a timely fashion thereafter, such documents and forms
required by any relevant taxing authorities under the Laws of any jurisdiction,
duly executed and completed by such Borrower, as are required to be furnished
by such Lender or the Administrative Agent under such Laws in connection with
any payment by the Administrative Agent or any Lender of Taxes or Other Taxes,
or otherwise in connection with the Loan Documents, with respect to such
jurisdiction.

 

(f)                                    If
and to the extent that any Lender or the Administrative Agent, in its sole
discretion (exercised in good faith), determines that it has received or been
granted a credit against, relief from, a refund or remission of, or a repayment
of, any Taxes or Other Taxes in respect of which it has received additional
payments under this Section 3.01, and such credit, refund, relief or
remission has been obtained, utilized and fully retained by such Lender or the
Administrative Agent on an affiliated group basis, then such Lender or the
Administrative Agent shall pay to the Borrowers an amount which such Lender or
the Administrative Agent determines, in its sole discretion (exercised in good
faith) will leave it, after the payments, in the same after-tax position as it
would have been in had the payments required under this Section 3.01 not
been required to be made by the Borrowers; provided however that (i) such
Lender or the Administrative Agent shall be the sole judge of the amount of
such credit, refund, relief or remission and the date on which it is received;
(ii) such Lender or the Administrative Agent shall

 

39

 

not be obliged to disclose
information regarding its tax affairs or tax computations; (iii) nothing in
this Section 3.01(f) shall interfere with such Lender’s or the
Administrative Agent’s right to manage its tax affairs in whatever manner it
sees fit; and (iv) if such Lender or the Administrative Agent shall
subsequently determine that it has lost all or a portion of such tax credit,
refund, relief or remission, the Borrowers shall promptly remit to such Lender
or the Administrative Agent the amount certified by such Lender or the
Administrative Agent to be the amount necessary to restore such Lender or the
Administrative Agent to the position it would have been in if no payment had
been made pursuant to this section.

 

(g)                                 The
Borrowers’ obligations to indemnify a Foreign Lender or pay additional amounts
to a Foreign Lender under this Section 3.01 are subject to Section
11.15(a)(iii).

 

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

 

3.03                        Inability to Determine Rates.  (a) If the Administrative Agent or the
Required Lenders determine that for any reason in connection with any request
for a Eurocurrency Rate Committed Loan or a conversion to or continuation
thereof that (i) deposits (whether in Dollars or an Alternative Currency)
are not being offered to banks in the applicable offshore interbank market for
such currency for the applicable amount and Interest Period of such
Eurocurrency Rate Committed Loan, (ii) adequate and reasonable means do
not exist for determining the Eurocurrency Rate for any requested Interest
Period with respect to a proposed Eurocurrency Rate Committed Loan (whether denominated
in Dollars or an Alternative Currency), or (iii) the Eurocurrency Rate for any
requested Interest Period with respect to a proposed Eurocurrency Rate
Committed Loan does not adequately and fairly reflect the cost to such Lenders
of funding such Eurocurrency Rate Committed Loan, the Administrative Agent will
promptly so notify the Company and each Lender.  Thereafter, the obligation of the Lenders to make or maintain

 

40

 

Eurocurrency Rate Committed
Loans in the affected currency or currencies shall be suspended until the
Administrative Agent (upon the instruction of the Required Lenders) revokes
such notice.  Upon receipt of such
notice, the Company may revoke any pending request for a Borrowing of, conversion
to or continuation of Eurocurrency Rate Committed Loans in the affected
currency or currencies or, failing that, will be deemed to have converted such
request into a request for a Committed Borrowing of Base Rate Loans in the
amount specified therein.

 

(b)                                 If
the Administrative Agent or any Bid Loan Lender determines that for any reason
in connection with any request for a Eurocurrency Margin Bid Loan that
(i) deposits (whether in Dollars or an Alternative Currency or a Requested
Currency) are not being offered to banks in the applicable offshore interbank
market for such currency for the applicable amount and Interest Period of such
Eurocurrency Margin Bid Loan, (ii) adequate and reasonable means do not
exist for determining the Eurocurrency Rate for any requested Interest Period
with respect to a proposed Eurocurrency Margin Bid Loan (whether denominated in
Dollars or an Alternative Currency or a Requested Currency), or (iii) the
Eurocurrency Rate for any requested Interest Period with respect to a proposed
Eurocurrency Margin Bid Loan does not adequately and fairly reflect the cost to
such Lender of funding such Eurocurrency Margin Bid Loan, the Administrative
Agent will promptly so notify the Company and each such Lender.  Thereafter, the obligation of such Lenders
to make or maintain Eurocurrency Margin Bid Loans in the affected currency or
currencies shall be suspended until the Administrative Agent (upon the
instruction of such Lenders) revokes such notice.  Upon receipt of such notice, the Company may revoke any pending
request for a Borrowing of Eurocurrency Margin Bid Loans in the affected
currency or currencies.

 

3.04                        Increased Cost and Reduced Return;
Capital Adequacy; Reserves on Eurocurrency Rate Loans.

 

(a)                                  If
any Lender determines that as a result of the introduction of or any change in
or in the interpretation of any Law, or such Lender’s compliance therewith,
there shall be any increase in the cost to such Lender of agreeing to make or
making, funding or maintaining Eurocurrency Rate Loans or a reduction in the
amount received or receivable by such Lender in connection with any of the
foregoing (excluding for purposes of this subsection (a) any such increased
costs or reduction in amount resulting from (i) Taxes or Other Taxes (as to
which Section 3.01 shall govern), (ii) changes in the basis of taxation
of overall net income or overall gross income by the United States or any
foreign jurisdiction or any political subdivision of either thereof under the
Laws of which such Lender is organized or has its Lending Office, (iii) reserve
requirements contemplated by Section 3.04(c) and (iv) the requirements
of the Bank of England and the Financial Services Authority or the European
Central Bank reflected in the Mandatory Cost, other than as set forth below) or
the Mandatory Cost, as calculated hereunder, does not represent the cost to
such Lender of complying with the requirements of the Bank of England and/or
the Financial Services Authority or the European Central Bank in relation to
its making, funding or maintaining of Eurocurrency Rate Loans, then from time
to time upon demand of such Lender (with a copy of such demand to the
Administrative Agent), the Company shall pay (or cause the applicable
Designated Borrower to pay) to such Lender such additional amounts as will
compensate such Lender for such increased cost or reduction or, if applicable,
the portion of such cost that is not represented by the Mandatory Cost.

 

41

 

(b)                                 If
any Lender determines that the introduction of any Law regarding capital
adequacy or any change therein or in the interpretation thereof, or compliance
by such Lender (or its Lending Office) therewith, has the effect of reducing
the rate of return on the capital of such Lender or any corporation controlling
such Lender as a consequence of such Lender’s obligations hereunder (taking
into consideration its policies with respect to capital adequacy and such
Lender’s desired return on capital), then from time to time upon demand of such
Lender (with a copy of such demand to the Administrative Agent), the Company
shall pay (or cause the applicable Designated Borrower to pay) to such Lender
such additional amounts as will compensate such Lender for such reduction.

 

(c)                                  The
Company shall pay (or cause the applicable Designated Borrower to pay) to each
Lender, as long as such Lender shall be required to maintain reserves with
respect to liabilities or assets consisting of or including Eurocurrency funds
or deposits (currently known as “Eurocurrency liabilities”), additional
interest on the unpaid principal amount of each Eurocurrency Rate Loan equal to
the actual costs of such reserves allocated to such Loan by such Lender (as
determined by such Lender in good faith, which determination shall be
conclusive), which shall be due and payable on each date on which interest is
payable on such Loan, provided the Company shall have received at least
15 days’ prior notice (with a copy to the Administrative Agent) of such
additional interest from such Lender. 
If a Lender fails to give notice 15 days prior to the relevant Interest
Payment Date, such additional interest shall be due and payable 15 days from
receipt of such notice.

 

3.05                        Compensation for Losses.  Upon demand of any Lender (with a copy to the Administrative
Agent) from time to time, the Company shall promptly compensate (or cause the
applicable Designated Borrower to compensate) such Lender for and hold such
Lender harmless from any loss, cost or expense incurred by it as a result of:

 

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

 

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

 

(c)                                  any
assignment of a Eurocurrency Rate Loan on a day other than the last day of the
Interest Period therefor as a result of a request by the Company pursuant to Section
11.16;

 

including any loss of anticipated profits, any foreign
exchange losses and any loss or expense arising from the liquidation or
reemployment of funds obtained by it to maintain such Loan, from fees payable
to terminate the deposits from which such funds were obtained or from the
performance of any foreign exchange contract.  The Company shall also pay (or cause
the applicable Designated Borrower to pay) any
customary administrative fees charged by such Lender in connection with the
foregoing.

 

For purposes
of calculating amounts payable by the Company (or the applicable Designated
Borrower) to the Lenders under this Section 3.05, each Lender shall be deemed to have funded

 

42

 

each Eurocurrency Rate Loan made by it at the
the Eurocurrency Rate for such Loan by a matching deposit or other borrowing in
the offshore interbank market for such currency for a comparable amount and for
a comparable period, whether or not such Eurocurrency Rate Loan was in fact so
funded.

 

3.06                        Matters Applicable to all Requests for
Compensation.

 

(a)                                  A
certificate of the Administrative Agent or any Lender claiming compensation
under this Article III and setting forth the additional amount or
amounts to be paid to it hereunder shall be conclusive in the absence of
manifest error.  In determining such amount,
the Administrative Agent or such Lender may use any reasonable averaging and
attribution methods.

 

(b)                                 Upon
any Lender’s making a claim for compensation under Section 3.01 or 3.04,
the Company may replace such Lender in accordance with Section 11.16.

 

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

 

ARTICLE IV.

CONDITIONS PRECEDENT TO BORROWINGS

 

4.01                        Conditions of Initial Borrowing.  The obligation of each Lender to make its
initial Loan hereunder is subject to satisfaction of the following conditions
precedent:

 

(a)                                  The
Administrative Agent’s receipt of the following, each of which shall be
originals or facsimiles (followed promptly by originals) unless otherwise
specified, each properly executed by a Responsible Officer of the Company, each
dated the Closing Date (or, in the case of certificates of governmental
officials, a recent date before the Closing Date) and each in form and
substance satisfactory to the Administrative Agent and its legal counsel:

 

(i)                                     executed
counterparts of this Agreement, sufficient in number for distribution to the
Administrative Agent, each Lender and the Company;

 

(ii)                                  Notes executed by the
Company in favor of each Lender requesting Notes;

 

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

 

(iv)                              such documents and
certifications as the Administrative Agent may reasonably require to evidence
that the Company is duly organized or formed, and is validly existing, in good
standing in its jurisdiction of organization, including certified copies of the
Company’s Organization Documents, and certificates of good standing and tax clearance
certificates;

 

43

 

(v)                                 a favorable opinion of
Wilmer, Cutler & Pickering, special counsel to the Company, addressed to
the Administrative Agent and each Lender, in the form set forth in Exhibit H;

 

(vi)                              a certificate signed by a
Responsible Officer of the Company certifying (A) that the conditions specified
in Sections 4.02(a) and (b) have been satisfied, (B) that there
has been no event or circumstance since the date of the Audited Financial
Statements that has had or could be reasonably expected to have, either
individually or in the aggregate, a Material Adverse Effect; and (C)  the
current Debt Ratings; and

 

(vii)                           such other assurances,
certificates, documents, consents or opinions as the Administrative Agent, the
Swing Line Lender or the Required Lenders reasonably may require.

 

(b)                                 Any
fees required to be paid on or before the Closing Date shall have been paid.

 

(c)                                  Unless
waived by the Administrative Agent, the Company shall have paid all Attorney Costs
of the Administrative Agent to the extent invoiced prior to or on the Closing
Date, plus such additional amounts of Attorney Costs as shall constitute its
reasonable estimate of Attorney Costs incurred or to be incurred by it through
the closing proceedings (provided that such estimate shall not thereafter
preclude a final settling of accounts between the Company and the
Administrative Agent).

 

(d)                                 The
Closing Date shall have occurred on or before August 11, 2003.

 

4.02                        Conditions to all Borrowings.   The
obligation of each Lender to honor any Request for Borrowing (other than a
Committed Loan Notice requesting only a conversion of Committed Loans to the
other Type, or a continuation of Eurocurrency Rate Loans) is subject to the
following conditions precedent:

 

(a)                                  The
representations and warranties of the Borrowers contained in Article V
or any representations and warranties of any Loan Party in other Loan Document,
or which are contained in any document furnished at any time under or in
connection herewith or therewith, shall be true and correct on and as of the
date of such Borrowing, except to the extent that such representations and
warranties specifically refer to an earlier date, in which case they shall be
true and correct as of such earlier date, and except that for purposes of this Section
4.02, (i) the representations and warranties contained in subsections (a)
and (b) of Section 5.05 shall be deemed to refer to the most recent
statements furnished pursuant to clauses (a) and (b), respectively, of Section
6.01 and (ii) the representations and warranties in subsection (c) of Section
5.05, need only be true and correct on and as of the Closing Date.

 

(b)                                 No
Default shall exist, or would result from such proposed Borrowing.

 

(c)                                  The
Administrative Agent and, if applicable, the Swing Line Lender shall have
received a Request for Borrowing in accordance with the requirements hereof.

 

44

 

(d)                                 If
the applicable Borrower is a Designated Borrower, then the conditions of Section 2.14
to the designation of such Borrower as a Designated Borrower shall have been
met to the satisfaction of the Administrative Agent.

 

(e)                                  In
the case of a Committed Borrowing to be denominated in an Alternative Currency,
there shall not have occurred any change in national or international
financial, political or economic conditions or currency exchange rates or
exchange controls which in the reasonable opinion of the Administrative Agent
or the Required Lenders (in the case of any Loans to be denominated in an
Alternative Currency) would make it impracticable for such Borrowing to be
denominated in the relevant Alternative Currency.

 

Each Request
for Borrowing (other than a Committed Loan Notice requesting only a conversion
of Committed Loans to the other Type or a continuation of Eurocurrency Rate
Loans) submitted by the Company shall be deemed to be a representation and
warranty that the conditions specified in Sections 4.02(a) and (b)
have been satisfied on and as of the date of the applicable Borrowing.

 

ARTICLE V.

REPRESENTATIONS AND WARRANTIES

 

Each Borrower
represents and warrants to the Administrative Agent and the Lenders that:

 

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

 

5.02                        Authorization; No Contravention.  The execution, delivery and performance by
each Loan Party of each Loan Document to which such Person is party, have been
duly authorized by all necessary corporate or other organizational action, and
do not and will not (a) contravene the terms of any of such Person’s
Organization Documents; (b) conflict with or result in any breach or
contravention of, or the creation of any Lien under, (i) any Contractual Obligation
to which such Person is a party contemplating payments in excess of the
Threshold Amount to, or to be due from, the Company and its Subsidiaries or
(ii) any order, injunction, writ or decree of any Governmental Authority or any
arbitral award to which such Person or its property is subject; or (c) violate
any Law.

 

5.03                        Governmental Authorization; Other
Consents.  No approval, consent,
exemption, authorization, or other action by, or notice to, or filing with, any
Governmental Authority or any other Person is necessary or required in
connection with the execution, delivery or performance by, or enforcement
against, any Loan Party of this Agreement or any other Loan

 

45

 

Document other than any thereof
as have been obtained, taken or made on or prior to the Closing Date and remain
in full force and effect.

 

5.04                        Binding Effect.  This Agreement has been, and each other Loan
Document, when delivered hereunder, will have been, duly executed and delivered
by each Loan Party that is party thereto. 
This Agreement constitutes, and each other Loan Document when so
delivered will constitute, a legal, valid and binding obligation of such Loan
Party, enforceable against each Loan Party that is party thereto in accordance
with its terms.

 

5.05                        Financial Statements; No Material
Adverse Effect.

 

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

 

(b)                                 The
unaudited consolidated balance sheet of the Company and its Subsidiaries dated
March 31, 2003, and the related consolidated statements of income or
operations, shareholders’ equity and cash flows for the fiscal quarter ended on
that date (i) were prepared in accordance with GAAP consistently applied
throughout the period covered thereby, except as otherwise expressly noted
therein, (ii) fairly present the financial condition of the Company and its
Subsidiaries as of the date thereof and their results of operations for the
period covered thereby, subject, in the case of clauses (i) and (ii), to the
absence of footnotes and to normal year-end audit adjustments, and (iii) show
all material indebtedness and other liabilities, direct or contingent, of the
Company and its consolidated Subsidiaries as of the date of such financial
statements, including liabilities for taxes, material commitments and Indebtedness,
in each case, to the extent required to be reflected thereon pursuant to GAAP
consistently applied.

 

(c)                                  As
of the Closing Date, since the date of the Audited Financial Statements, there
has been no event or circumstance, either individually or in the aggregate,
that has had or could reasonably be expected to have a Material Adverse Effect.

 

5.06                        Litigation.  There are no actions, suits, proceedings,
claims or disputes pending or, to the knowledge of the Company after due and
diligent investigation, threatened or contemplated, at law, in equity, in
arbitration or before any Governmental Authority, by or against the Company or
any of its Subsidiaries or against any of their properties or revenues that (a)
purport to affect or pertain to this Agreement or any other Loan Document, or
any of the transactions contemplated hereby, or (b) except as set forth on Schedule
5.06, for which there is (based on facts and circumstances known to the
Borrower after due inquiry on any date of determination) a reasonable
likelihood of an adverse determination and which, if determined adversely,
could reasonably be expected to have a Material Adverse Effect.

 

46

 

5.07                        No Default.  No Default has occurred and is continuing or
would result from the consummation of the transactions contemplated by this
Agreement or any other Loan Document.

 

5.08                        Ownership of Property; Liens.  Each of the Company and each Subsidiary has
good record title to, or valid leasehold interests in, all real property
necessary or used in the ordinary conduct of its business, except for such
defects in title as could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. 
The property of the Company and its Subsidiaries is subject to no Liens,
other than Liens permitted by Section 7.01.

 

5.09                        Environmental Compliance.  The Company and its Subsidiaries conduct in
the ordinary course of business a review of the effect of existing
Environmental Laws and claims alleging potential liability or responsibility
for violation of any Environmental Law on their respective businesses,
operations and properties, and as a result thereof the Company has reasonably
concluded that, except as specifically disclosed in Schedule 5.09, such
Environmental Laws and claims could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.

 

5.10                        Insurance.  The properties of the Company and its
Subsidiaries are insured with financially sound and reputable insurance
companies not Affiliates of the Company, in such amounts, with such deductibles
and covering such risks as are customarily carried by companies engaged in
similar businesses and owning similar properties in localities where the
Company or the applicable Subsidiary operates (it being understood that a
program of self-insurance for first or other loss layers may be utilized).

 

5.11                        Taxes.  The Company and its Subsidiaries have filed
all Federal, state and other material tax returns and reports required to be
filed, and have paid all Federal, state and other material taxes, assessments,
fees and other governmental charges levied or imposed upon them or their
properties, income or assets otherwise due and payable, except those which are
being contested in good faith by appropriate proceedings diligently conducted
by the Company.  To the Company’s
knowledge, there is no proposed tax assessment against the Company or any
Subsidiary that would, if made, have a Material Adverse Effect.

 

5.12                        ERISA Compliance.

 

(a)                                  The
Company and each ERISA Affiliate have made all required contributions to each
Plan subject to Section 412 of the Code, and no application for a funding
waiver or an extension of any amortization period pursuant to Section 412 of
the Code has been made with respect to any Plan.

 

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

 

(c)                                  (i)  No ERISA Event likely to result in material
liability for the Company has occurred or is reasonably expected to occur; (ii)
no Pension Plan has any Unfunded Pension Liability in any material amount;
(iii) neither the Company nor any ERISA Affiliate has

 

47

 

incurred, or reasonably expects
to incur, any material liability under Title IV of ERISA with respect to any
Pension Plan (other than premiums due and not delinquent under Section 4007 of
ERISA); (iv) neither the Company nor any ERISA Affiliate has incurred, or
reasonably expects to incur, any material liability (and no event has occurred
which, with the giving of notice under Section 4219 of ERISA, would result in
such liability) under Sections 4201 or 4243 of ERISA with respect to a
Multiemployer Plan; and (v) neither the Company nor any ERISA Affiliate has
engaged in a transaction that could reasonably be expected to be subject to
Sections 4069 or 4212(c) of ERISA.

 

5.13                        Margin Regulations; Investment
Company Act; Public Utility Holding Company Act.

 

(a)                                  No
Borrower is engaged or will engage, principally or as one of its important
activities, in the business of purchasing or carrying margin stock (within the
meaning of Regulation U issued by the FRB), or extending credit for the purpose
of purchasing or carrying margin stock.

 

(b)                                 None
of the Company, any Person Controlling the Company, or any Subsidiary (i) is a
“holding company,” or a “subsidiary company” of a “holding company,” or an
“affiliate” of a “holding company” or of a “subsidiary company” of a “holding
company,” within the meaning of the Public Utility Holding Company Act of 1935,
or (ii) is or is required to be registered as an “investment company” under the
Investment Company Act of 1940.

 

5.14                        Disclosure.
 No report, financial statement,
certificate or other information furnished by or on behalf of any Loan Party to
the Administrative Agent or any Lender in connection with the transactions
contemplated hereby and the negotiation of this Agreement or delivered
hereunder (as modified or supplemented by other information so furnished)
contains any material misstatement of fact or omits to state any material fact
necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading.

 

5.15                        Tax Shelter Regulations.  The Company does not intend to treat the Loans and related
transactions as being a “reportable transaction” (within the meaning of
Treasury Regulation Section 1.6011-4). 
If the Company determines to take any action inconsistent with such
intention, it will promptly notify the Administrative Agent thereof.  If the Company so notifies the
Administrative Agent, the Company acknowledges that one or more of the Lenders may
treat its Committed Loans, Bid Loans and/or its interest in Swing Line Loans as
a part of a transaction that is subject to Treasury Regulation Section
301.6112-1, and such Lender or Lenders, as applicable, will maintain the lists
and other records required by such Treasury Regulations.

 

5.16                        Foreign Obligor Representations.  (a)  Each Loan Party that is a Foreign Subsidiary (a “Foreign
Obligor”) is subject to civil and commercial law with
respect to its obligations under this Agreement and the other Loan Documents to
which such Foreign Obligor is a party (collectively, the “Applicable Foreign
Obligor Documents”), and the execution, delivery and performance by such
Foreign Obligor of the Applicable Foreign Obligor Documents constitute and will
constitute private and commercial acts and not public or

 

48

 

governmental acts.  Neither such Foreign Obligor nor any of its
property has any immunity from jurisdiction of any court or from any legal
process (whether through service or notice, attachment prior to judgment,
attachment in aid of execution, execution or otherwise) under the laws of the
jurisdiction in which such Foreign Obligor is organized and existing in respect
of its obligations under the Applicable Foreign Obligor Documents.

 

(b)                                 The
Applicable Foreign Obligor Documents are in proper legal form under the law of
the jurisdiction in which any Foreign Obligor is organized and existing for the
enforcement thereof against such Foreign Obligor under the law of such
jurisdiction, and to ensure the legality, validity, enforceability, priority or
admissibility in evidence of the Applicable Foreign Obligor Documents.  It is not necessary to ensure the legality,
validity, enforceability, priority or admissibility in evidence of the
Applicable Foreign Obligor Documents that the Applicable Foreign Obligor
Documents be filed, registered or recorded with, or executed or notarized
before, any court or other authority in the jurisdiction in which any Foreign
Obligor is organized and existing or that any registration charge or stamp or
similar tax be paid on or in respect of the Applicable Foreign Obligor
Documents or any other document, except for any such filing, registration or
recording, or execution or notarization, as has been made or is not required to
be made until the Applicable Foreign Obligor Document or any other document is
sought to be enforced and for any charge or tax as has been timely paid.

 

(c)                                  There
is no tax, levy, impost, duty, fee, assessment or other governmental charge, or
any deduction or withholding, imposed by any Governmental Authority in or of
the jurisdiction in which the Foreign Obligor is organized and existing either
(A) on or by virtue of the execution or delivery of the Applicable Foreign
Obligor Documents to which the Foreign Obligor is a party or (B) on any
payment to be made by the Foreign Obligor pursuant to the Applicable Foreign
Obligor Documents, except as has been disclosed to the Administrative Agent.

 

(d)                                 The
execution, delivery and performance of the Applicable Foreign Obligor Documents
executed by any Foreign Obligor are, under applicable foreign exchange control
regulations of the jurisdiction in which such Foreign Obligor is organized and
existing, not subject to any notification or authorization except (A) such as have
been made or obtained or (B) such as cannot be made or obtained until a later
date (provided that any notification or authorization described in
immediately preceding clause (B) shall be made or obtained as soon as is
reasonably practicable).

 

ARTICLE VI.

AFFIRMATIVE COVENANTS

 

So long as any
Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied, the Company shall, and shall
(except in the case of the covenants set forth in Sections 6.01, 6.02
and 6.03) cause each Subsidiary to:

 

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

 

49

 

(a)                                  as
soon as available, but in any event within 100 days after the end of each
fiscal year of the Company, a consolidated balance sheet of the Company and its
Subsidiaries as at the end of such fiscal year, and the related consolidated
statements of income or operations, shareholders’ equity and cash flows for
such fiscal year, setting forth in each case in comparative form the figures
for the previous fiscal year, all in reasonable detail and prepared in
accordance with GAAP, audited and accompanied by a report and opinion of Ernst
& Young or another independent certified public accountant of nationally
recognized standing reasonably acceptable to the Required Lenders, which report
and opinion shall be prepared in accordance with generally accepted auditing
standards and shall not be subject to any “going concern” or like qualification
or exception or any qualification or exception as to the scope of such audit;
and

 

(b)                                 as
soon as available, but in any event within 50 days after the end of each of the
first three fiscal quarters of each fiscal year of the Company, a consolidated
balance sheet of the Company and its Subsidiaries as at the end of such fiscal
quarter, and the related consolidated statements of income or operations,
shareholders’ equity and cash flows for such fiscal quarter and for the portion
of the Company’s fiscal year then ended, setting forth in each case in
comparative form the figures for the corresponding fiscal quarter of the
previous fiscal year and the corresponding portion of the previous fiscal year,
all in reasonable detail and certified by a Responsible Officer of the Company
as fairly presenting the financial condition, results of operations,
shareholders’ equity and cash flows of the Company and its Subsidiaries in accordance
with GAAP, subject only to normal year-end audit adjustments and the absence of
footnotes.

 

As to any
information contained in materials furnished pursuant to Section 6.02(d),
the Company shall not be separately required to furnish such information under
clause (a) or (b) above, but the foregoing shall not be in derogation of the
obligation of the Company to furnish the information and materials described in
subsections (a) and (b) above at the times specified therein.

 

6.02                        Certificates; Other Information.  Deliver to the Administrative Agent and each
Lender, in form and detail satisfactory to the Administrative Agent and the
Required Lenders:

 

(a)                                  concurrently
with the delivery of the financial statements referred to in Section 6.01(a),
a certificate of its independent certified public accountants certifying such
financial statements and stating that in making the examination necessary
therefor no knowledge was obtained of any Default or, if any such Default shall
exist, stating the nature and status of such event;

 

(b)                                 concurrently
with the delivery of the financial statements referred to in Sections
6.01(a) and (b), a duly completed Compliance Certificate signed by a
Responsible Officer of the Company;

 

(c)                                  promptly
after any request by the Administrative Agent or any Lender, copies of any
final management letter submitted to the board of directors (or the audit
committee of the board of directors) of the Company by independent accountants
in connection with the accounts or books of the Company or any Subsidiary, or
any audit of any of them;

 

50

 

(d)                                 promptly
after the same are available, copies of each annual report, proxy or financial
statement or other report or communication sent to the stockholders of the
Company, and copies of all annual, regular, periodic and special reports which
the Company may file or be required to file with the SEC under Section 13 or
15(d) of the Securities Exchange Act of 1934, and not otherwise required to be
delivered to the Administrative Agent pursuant hereto;

 

(e)                                  promptly
after the Company has notified the Administrative Agent of any intention by the
Company to treat the Loans as being a “reportable transaction” (within the
meaning of Treasury Regulation Section 1.6011-4), a duly completed copy of IRS
Form 8886 or any successor form; and

 

(f)                                    promptly,
such additional information regarding the business, financial or corporate
affairs of the Company or any Subsidiary, or compliance with the terms of the
Loan Documents, as the Administrative Agent or any Lender may from time to time
reasonably request.

 

Documents
required to be delivered pursuant to Section 6.01(a) or (b) or Section
6.02(d) (to the extent any such documents are included in materials
otherwise filed with the SEC) may be delivered electronically and if so
delivered, shall be deemed to have been delivered on the date (i) on which the
Company posts such documents, or provides a link thereto on the Company’s
website on the Internet at the website address listed on Schedule 11.02;
or (ii) on which such documents are posted on the Company’s behalf on
IntraLinks/IntraAgency or another relevant website, if any, to which each
Lender and the Administrative Agent have access (whether a commercial,
third-party website or whether sponsored by the Administrative Agent); provided
that: (i) the Company shall deliver paper copies of such documents to the
Administrative Agent or any Lender that requests the Company to deliver such
paper copies until a written request to cease delivering paper copies is given
by the Administrative Agent or such Lender and (ii) the Company shall notify
(which may be by facsimile or electronic mail) the Administrative Agent and
each Lender of the posting of any such documents and provide to the Administrative
Agent by electronic mail electronic versions (i.e., soft copies) of such
documents.  Notwithstanding anything
contained herein, in every instance the Company shall be required to provide
paper copies of the Compliance Certificates required by Section 6.02(c)
to the Administrative Agent.  Except for
such Compliance Certificates, the Administrative Agent shall have no obligation
to request the delivery or to maintain copies of the documents referred to
above, and in any event shall have no responsibility to monitor compliance by
the Company with any such request for delivery, and each Lender shall be solely
responsible for requesting delivery to it or maintaining its copies of such
documents.

 

6.03                        Notices.  Promptly notify the Administrative Agent and
each Lender:

 

(a)                                  of
the occurrence of any Default;

 

(b)                                 of
any matter that has resulted or could reasonably be expected to result in a
Material Adverse Effect, including (i) breach or non-performance of, or any
default under, a Contractual Obligation of the Company or any Subsidiary; (ii)
any dispute, litigation, investigation, proceeding or suspension between the
Company or any Subsidiary and any Governmental Authority; or (iii) the
commencement of, or any material development in, any 

 

51

 

litigation, investigation or
proceeding affecting the Company or any Subsidiary, including pursuant to any
applicable Environmental Laws, to the extent such matters in clauses (i), (ii)
or (iii) could reasonably be expected to result in a Material Adverse Effect;

 

(c)                                  of
the occurrence of any ERISA Event which may result in material liability for
the Company or any of its Subsidiaries;

 

(d)                                 of
any material change in accounting policies or financial reporting practices by
the Company or any Subsidiary; and

 

(e)                                  of
any announcement by Moody’s or S&P of any change or possible change in a
Debt Rating.

 

Each notice
pursuant to this Section shall be accompanied by a statement of a Responsible
Officer of the Company setting forth details of the occurrence referred to
therein and stating what action the Company has taken and proposes to take with
respect thereto.  Each notice pursuant
to Section 6.03(a) shall describe with particularity any and all
provisions of this Agreement and any other Loan Document that have been
breached.

 

6.04                        Payment of Obligations.  Pay and discharge, and cause its Subsidiaries to make funds
available to it in amounts sufficient to pay and discharge, as the same shall
become due and payable, all its obligations and liabilities, including (a) all
tax liabilities, assessments and governmental charges or levies upon it or its
properties or assets, unless the same are being contested in good faith by
appropriate proceedings diligently conducted and adequate reserves, if any, in
accordance with GAAP are being maintained by the Company or such Subsidiary;
(b) all material lawful claims which, if unpaid, would by law become a Lien
upon its property, unless the same are being contested in good faith by appropriate
proceedings diligently conducted and adequate reserves, if any, in accordance
with GAAP are being maintained by the Company or such Subsidiary; and (c) all
material Indebtedness, as and when due and payable, but subject to any
subordination provisions contained in any instrument or agreement evidencing
such Indebtedness.

 

6.05                        Preservation of Existence, Etc.  (a) 
Preserve, renew and maintain in full force and effect its legal
existence and good standing (or equivalent status) under the Laws of the jurisdiction
of its organization except in a transaction permitted by Section 7.02;
(b) take all reasonable action to maintain all rights, privileges, permits,
licenses and franchises necessary or desirable in the normal conduct of its
business, except in a transaction permitted by Section 7.02 or to the
extent that failure to do so could not reasonably be expected to have a
Material Adverse Effect; and (c) preserve or renew all of its registered
patents, trademarks, trade names and service marks, the non-preservation of
which could reasonably be expected to have a Material Adverse Effect.

 

6.06                        Maintenance of Properties.  (a) 
Maintain, preserve and protect all of its properties and equipment
necessary in the operation of its business in good working order and condition,
ordinary wear and tear excepted, except where the failure to do so could not
reasonably be expected to have a Material Adverse Effect; and (b) make all
necessary repairs 

 

52

 

thereto and renewals and
replacements thereof except where the failure to do so could not reasonably be
expected to have a Material Adverse Effect.

 

6.07                        Maintenance of Insurance.  Maintain with financially sound and reputable insurance companies
not Affiliates of the Company, insurance with respect to its properties and
business against loss or damage of the kinds customarily insured against by
Persons engaged in the same or similar business, of such types and in such
amounts as are customarily carried under similar circumstances by such other
Persons (it being understood that a program of self-insurance for first loss or
other loss layers may be utilized).

 

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

 

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

 

6.10                        Inspection Rights.  Permit representatives and independent
contractors of the Administrative Agent and each Lender to visit and inspect
any of its properties, to examine its corporate, financial and operating
records, and make copies thereof or abstracts therefrom, and to discuss its
affairs, finances and accounts with its directors, officers, and independent
public accountants, all at such reasonable times during normal business hours
and as often as may be reasonably desired, upon reasonable advance notice to
the Company; provided, however, that when an Event of Default
exists the Administrative Agent or any Lender (or any of their respective
representatives or independent contractors) may do any of the foregoing at the
expense of the Company at any time during normal business hours and without
advance notice.

 

6.11                        Compliance with ERISA.  Do, and
cause each of its ERISA Affiliates to do, each of the following: (a) maintain
each Plan in compliance in all material respects with the applicable provisions
of ERISA, the Code and other Federal or state law; (b) cause each Plan which is
qualified under Section 401(a) of the Code to maintain such qualification; and
(c) make all required contributions to any Plan subject to Section 412 of the
Code except where the failure to comply with this Section 6.11 could not
reasonably be expected to have a Material Adverse Effect.

 

6.12                        Use of Proceeds.  Use the proceeds of the Borrowings for
general corporate purposes (including acquisitions) not in contravention of any
Law or of any Loan Document.

 

53

 

ARTICLE VII.

NEGATIVE COVENANTS

 

So long as any
Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied, the Company shall not, nor shall
it permit any Subsidiary to, directly or indirectly:

 

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

 

(a)                                  Liens
pursuant to any Loan Document;

 

(b)                                 Liens
existing on the date hereof and listed on Schedule 7.01;

 

(c)                                  Liens
for taxes not yet due and payable or which are being contested in good faith
and by appropriate proceedings diligently conducted by the Company;

 

(d)                                 carriers’,
warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens
arising in the ordinary course of business which are not overdue for a period
of more than 30 days or which are being contested in good faith and by
appropriate proceedings diligently conducted, if adequate reserves, if any,
with respect thereto are maintained on the books of the applicable Person;

 

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

 

(f)                                    deposits
to secure the performance of bids, trade contracts and leases (other than for
money borrowed), statutory obligations, surety and appeal bonds, performance
bonds and other obligations of a like nature incurred in the ordinary course of
business (including deposits to secure letters of credit issued to secure any
such obligation);

 

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

 

(h)                                 Liens
securing judgments for the payment of money not constituting an Event of
Default under Section 8.01(h) or securing appeal or other surety bonds
related to such judgments;

 

(i)                                     any
interest or title of a lessor under any operating lease entered into by the
Company or any of its Subsidiaries in the ordinary course of its business and
covering only the assets so leased;

 

(j)                                     licenses,
operating leases or subleases permitted hereunder granted to other Persons in
the ordinary course of business not interfering in any material respect with
the business of the Company or any of its Subsidiaries;

 

54

 

(k)                                  Liens
arising from precautionary UCC financing statement filings with respect to
operating leases or consignment arrangements entered into by the Company or any
of its Subsidiaries in the ordinary course of business;

 

(l)                                     Liens
in favor of banking institutions arising by operation of law encumbering
deposits (including the right of set-off) held by such banking institutions
incurred in the ordinary course of business and that are within the general parameters
customary in the banking industry;

 

(m)                               Liens
on property of a Person existing at the time such Person is merged into or
consolidated with the Company or any Subsidiary or becomes a Subsidiary of the
Company; provided that such Liens were not created in contemplation of
such merger, consolidation or acquisition and do not extend to any assets other
than those of the Person so merged into or consolidated with the Company or
such Subsidiary or acquired by the Company or such Subsidiary;

 

(n)                                 other
Liens securing Indebtedness in an aggregate outstanding principal amount on any
date not to exceed 10% of Net Tangible Assets of the Company and its
Subsidiaries as of the most recently completed fiscal quarter of the Company
prior to such date; and

 

(o)                                 the
replacement, extension or renewal of any Lien permitted by clause (b) or (m)
above upon or in the same property theretofore subject thereto or the
replacement, extension or renewal (without increase in the amount or change in
any direct or contingent obligor) of the Indebtedness secured thereby.

 

7.02                        Fundamental Changes.  Merge,
dissolve, liquidate, consolidate with or into another Person, or Dispose of
(whether in one transaction or in a series of transactions) all or
substantially all of its assets (whether now owned or hereafter acquired) to or
in favor of any Person, except that, so long as no Default exists or would
result therefrom:

 

(a)                                  the
Company may merge or consolidate with or into another Person if either (i) the
Company is the surviving Person or (ii) the Person formed by such consolidation
or into which the Company is merged (any such Person, the “Successor”)
shall be organized and existing under the laws of the United States or any
state thereof or the District of Columbia and shall expressly assume, in a
writing executed and delivered to the Administrative Agent for delivery to each
Lender, in form reasonably satisfactory to the Administrative Agent (which
writing shall include, without limitation, a certification as to pro forma
compliance with Section 7.06), the due and punctual payment of the principal of
and interest on the Loans and the performance of the other Obligations under
this Agreement (including the Company Guaranty) and the other Loan Documents on
the part of the Company to be performed or observed, as fully as if such
Successor were originally named as the initial Borrower in this Agreement;

 

(b)                                 any
Subsidiary may merge with (or dissolve into) (i) the Company, provided that the
Company shall be the continuing or surviving Person, or (ii) any one or more
Subsidiaries; and

 

(c)                                  any
Subsidiary may Dispose of all or substantially all of its assets (upon
voluntary liquidation or otherwise), (i) to the Company, (ii) to another
Subsidiary or (iii) to another Person; provided, that no Subsidiary may Dispose
of all or substantially all of its assets to another Person 

 

55

 

(other than the Company or
another Subsidiary) in a transaction or series of related transactions in which
all or substantially all of the assets of all material Subsidiaries of the
Company (whether now owned or hereafter acquired) are Disposed of.

 

7.03                        Burdensome Agreements.  Enter into any agreement prohibiting or limiting the ability of
any Subsidiary of any Borrower to make payments, directly or indirectly, to
such Borrower by way of dividends, advances, repayments of loans or advances,
reimbursement of intercompany expenses or accruals or other returns on
investment, or any other agreement or arrangement which restricts the ability
of any such Subsidiary to make any payment, directly or indirectly, to such
Borrower, except for restrictions imposed in connection with an agreement which
has been entered into for the Disposition of a Subsidiary or its assets
otherwise permitted by Section 7.02.

 

7.04                        Transactions with Affiliates.  Enter into any transaction of any kind with
any Affiliate of the Company, whether or not in the ordinary course of
business, other than terms substantially as favorable to the Company or such
Subsidiary as would be obtainable by the Company or such Subsidiary at the time
in a comparable arm’s length transaction with a Person other than an Affiliate,
provided that the foregoing restriction shall not apply to transactions between
or among the Company and any of its wholly-owned Subsidiaries or between and
among any wholly-owned Subsidiaries.

 

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

 

7.06                        Consolidated Leverage Ratio.  Permit the Consolidated Leverage Ratio as of
the end of any fiscal quarter of the Company to be greater than 0.575:1

 

ARTICLE VIII.

EVENTS OF DEFAULT AND REMEDIES

 

8.01                        Events of Default.  Any of the following shall constitute an
Event of Default:

 

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

 

(b)                                 Specific
Covenants.  The Company fails to
perform or observe any term, covenant or agreement contained in any of Section
6.03(a), 6.05 or 6.11 or Article VII; or

 

(c)                                  Other
Defaults.  Any Loan Party fails to
perform or observe any other covenant or agreement (not specified in subsection
(a) or (b) above) contained in any Loan Document on its part to be performed or
observed and such failure continues for 30 days after any Lender shall 

 

56

 

have given written notice
thereof to the Company (through the Administrative Agent) or the Company shall
have otherwise become aware of such default; or

 

(d)                                 Representations
and Warranties.  Any representation,
warranty, certification or statement of fact made or deemed made by or on
behalf of the Company or any other Loan Party herein, in any other Loan
Document, or in any document delivered in connection herewith or therewith
shall be incorrect in any material respect when made or deemed made; or

 

(e)                                  Cross-Default.  (i) The Company or any Subsidiary (A) fails
to make any payment when due (whether by scheduled maturity, required
prepayment, acceleration, demand, or otherwise but after giving effect to any
applicable grace periods) in respect of any Indebtedness or Guarantee (other
than Indebtedness hereunder and Indebtedness under Swap Contracts) having an
aggregate principal amount (including undrawn committed or available amounts
and including amounts owing to all creditors under any combined or syndicated
credit arrangement) of more than the Threshold Amount, or (B) fails to observe
or perform any other agreement or condition relating to any such Indebtedness
or Guarantee or contained in any instrument or agreement evidencing, securing
or relating thereto, or any other event occurs, the effect of which default or
other event is to cause, or to permit the holder or holders of such
Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a
trustee or agent on behalf of such holder or holders or beneficiary or
beneficiaries) to cause, with the giving of notice if required, such
Indebtedness to be demanded or to become due or to be repurchased, prepaid,
defeased or redeemed (automatically or otherwise), or an offer to repurchase,
prepay, defease or redeem such Indebtedness to be made, prior to its stated
maturity, or such Guarantee to become payable or cash collateral in respect
thereof to be demanded; or (ii) there occurs under any Swap Contract an Early
Termination Date (as defined in such Swap Contract) resulting from (A) any
event of default under such Swap Contract as to which the Company or any
Subsidiary is the Defaulting Party (as defined in such Swap Contract) or (B)
any Termination Event (as so defined) under such Swap Contract as to which the
Company or any Subsidiary is an Affected Party (as so defined) and, in either
event, the Swap Termination Value owed by the Company or such Subsidiary as a
result thereof is greater than the Threshold Amount; or

 

(f)                                    Insolvency
Proceedings, Etc.  Any Loan Party or
any of its Subsidiaries which, in the case of any such Subsidiary, as of the
most recently ended fiscal year of the Company contributed or was accountable
for at least 5% of the revenues of the Company and its Subsidiaries determined
on a consolidated basis for such year, institutes or consents to the
institution of any proceeding under any Debtor Relief Law, or makes an
assignment for the benefit of creditors; or applies for or consents to the
appointment of any receiver, trustee, custodian, conservator, liquidator,
rehabilitator or similar officer for it or for all or any material part of its
property; or any receiver, trustee, custodian, conservator, liquidator,
rehabilitator or similar officer is appointed without the application or
consent of such Person and the appointment continues undischarged or unstayed
for 60 calendar days; or any proceeding under any Debtor Relief Law relating to
any such Person or to all or any material part of its property is instituted
without the consent of such Person and continues undismissed or unstayed for 60
calendar days, or an order for relief is entered in any such proceeding; or

 

(g)                                 Inability
to Pay Debts; Attachment.  (i) The
Company or any Subsidiary which, in the case of any such Subsidiary, as of the
most recently ended fiscal year of the Company 

 

57

 

contributed or was accountable
for at least 5% of the revenues of the Company and its Subsidiaries determined
on a consolidated basis for such year, becomes unable or admits in writing its
inability or fails generally to pay its debts as they become due, or (ii) any
writ or warrant of attachment or execution or similar process is issued or
levied against all or any material part of the property of any such Person and
is not released, vacated or fully bonded within 60 days after its issue or
levy; or

 

(h)                                 Judgments.  There is entered against the Company or any
Subsidiary (i) a final judgment or order for the payment of money in an
aggregate amount exceeding the Threshold Amount (to the extent not covered by
independent third-party insurance as to which the insurer does not dispute
coverage), or (ii) any one or more non-monetary final judgments that have, or
could reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect and, in either case, (A) enforcement proceedings are
commenced by any creditor upon such judgment or order, or (B) there is a period
of 15 consecutive days during which a stay of enforcement of such judgment, by
reason of a pending appeal or otherwise, is not in effect; or

 

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

 

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

 

(k)                                  Change
of Control.  There occurs any Change
of Control with respect to the Company.

 

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

 

(a)                                  declare
the commitment of each Lender to make Loans to be terminated, whereupon such
commitments and obligation shall be terminated;

 

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

 

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

 

58

 

provided, however, that upon the
occurrence of any event specified in subsection (f) of Section 8.01, the
obligation of each Lender to make Loans shall automatically terminate, and the
unpaid principal amount of all outstanding Loans and all interest and other
amounts as aforesaid shall automatically become due and payable without further
act of the Administrative Agent or any Lender.

 

8.03                        Application of Funds.  (a)
After the exercise of remedies provided for in Section 8.02 (or after
the Loans have automatically become immediately due and payable as set forth in
the proviso to Section 8.02), any amounts received by the Administrative
Agent on account of the Obligations shall be applied by the Administrative
Agent in the following order:

 

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

 

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

 

Third,
to payment of that portion of the Obligations constituting accrued and unpaid
interest on the Loans and other Obligations, ratably among the Lenders in
proportion to the respective amounts described in this clause Third
payable to them;

 

Fourth,
to payment of that portion of the Obligations constituting unpaid principal of
the Loans, ratably among the Lenders in proportion to the respective amounts
described in this clause Fourth held by them; and

 

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

 

(b)                                 For
purposes of calculating the portion of any such amount received by the
Administrative Agent in any currency to be applied as provided in Section
8.03(a), the Administrative Agent may designate the date of such receipt as
a Revaluation Date for purposes of determining the Spot Rates of the currency
in which such amount is denominated and the Spot Rates of any currencies in
which any applicable Obligations are denominated.  The Administrative Agent shall so apply any such amount by making
payments denominated in the same currency as the amount so received by the
Administrative Agent is denominated.

 

(c)                                  The
obligation of each Borrower in respect of any such sum due from it to the
Administrative Agent or any Lender hereunder or under the other Loan Documents
shall, notwithstanding any such application in a currency (the “Application
Currency”) other than that in which such sum is denominated in accordance
with the applicable provisions of this Agreement (the “Agreement Currency”),
be discharged only to the extent that on the Business Day following the date of
any such application by the Administrative Agent of any such amount in the
Application Currency, (i) in the case of any such application to Obligations in
respect of a Bid Loan made by a Bid Loan Lender, such Bid Loan Lender, or (ii)
in the case of any such application to any other Obligations, the
Administrative Agent, may, in accordance with normal 

 

59

 

banking procedures, purchase
the Agreement Currency with the Application Currency.  If the amount of the Agreement Currency so purchased is less than
the Obligations originally due to the Administrative Agent or any applicable
Lender from any Borrower in the Agreement Currency, such Borrower acknowledges
that the applicable Obligations shall remain outstanding to the extent of such
difference.  If the amount of the
Agreement Currency so purchased is greater than the sum originally due to the
Administrative Agent or any applicable Lender in such currency, the
Administrative Agent or such Lender, as the case may be, agrees to return the
amount of any excess to such Borrower (or to any other Person who may be
entitled thereto under applicable law).

 

ARTICLE IX.

ADMINISTRATIVE AGENT

 

9.01                        Appointment and Authorization of
Administrative Agent.  Each
Lender hereby irrevocably appoints, designates and authorizes the
Administrative Agent to take such action on its behalf under the provisions of
this Agreement and each other Loan Document and to exercise such powers and
perform such duties as are expressly delegated to it by the terms of this
Agreement or any other Loan Document, together with such powers as are
reasonably incidental thereto. 
Notwithstanding any provision to the contrary contained elsewhere herein
or in any other Loan Document, the Administrative Agent shall not have any
duties or responsibilities, except those expressly set forth herein, nor shall
the Administrative Agent have or be deemed to have any fiduciary relationship
with any Lender or participant, and no implied covenants, functions,
responsibilities, duties, obligations or liabilities shall be read into this
Agreement or any other Loan Document or otherwise exist against the
Administrative Agent.  Without limiting
the generality of the foregoing sentence, the use of the term “agent” herein
and in the other Loan Documents with reference to the Administrative Agent is
not intended to connote any fiduciary or other implied (or express) obligations
arising under agency doctrine of any applicable Law.  Instead, such term is used merely as a matter of market custom,
and is intended to create or reflect only an administrative relationship
between independent contracting parties.

 

9.02                        Delegation of Duties.  The
Administrative Agent may execute any of its duties under this Agreement or any
other Loan Document by or through agents, employees or attorneys-in-fact,
including, for the purposes of any Borrowings or payments in Alternative
Currencies, such sub-administrative agents as shall be deemed necessary by the
Administrative Agent, and shall be entitled to advice of counsel and other
consultants or experts concerning all matters pertaining to such duties.  The Administrative Agent shall not be
responsible for the negligence or misconduct of any agent or attorney-in-fact
that it selects in the absence of gross negligence or willful misconduct.  Any such agent, sub-agent or other Person
retained or employed pursuant to this Section 9.02 shall have all the
benefits and immunities provided to the Administrative Agent in this Article
IX with respect to any acts taken or omissions suffered by such Person in
connection herewith or therewith, as fully as if the term “Administrative
Agent” as used in this Article IX and in the definition of
“Agent-Related Person” included such additional Persons with respect to such
acts or omissions.

 

9.03                        Liability of Administrative Agent.  No Agent-Related Person shall (a) be liable
for any action taken or omitted to be taken by any of them under or in
connection with this 

 

60

 

Agreement or any other Loan
Document or the transactions contemplated hereby (except for its own gross
negligence or willful misconduct in connection with its duties expressly set
forth herein), or (b) be responsible in any manner to any Lender or participant
for any recital, statement, representation or warranty made by any Loan Party
or any officer thereof, contained herein or in any other Loan Document, or in
any certificate, report, statement or other document referred to or provided
for in, or received by the Administrative Agent under or in connection with,
this Agreement or any other Loan Document, or the validity, effectiveness,
genuineness, enforceability or sufficiency of this Agreement or any other Loan
Document, or for any failure of any Loan Party or any other party to any Loan
Document to perform its obligations hereunder or thereunder.  No Agent-Related Person shall be under any
obligation to any Lender or participant to ascertain or to inquire as to the
observance or performance of any of the agreements contained in, or conditions
of, this Agreement or any other Loan Document, or to inspect the properties,
books or records of any Loan Party or any Affiliate thereof.

 

9.04                        Reliance by Administrative Agent.

 

(a)                                  The
Administrative Agent shall be entitled to rely, and shall be fully protected in
relying, upon any writing, communication, signature, resolution,
representation, notice, consent, certificate, affidavit, letter, telegram,
facsimile, telex or telephone message, electronic mail message, statement or
other document or conversation believed by it to be genuine and correct and to
have been signed, sent or made by the proper Person or Persons, and upon advice
and statements of legal counsel (including counsel to any Loan Party),
independent accountants and other experts selected by the Administrative
Agent.  The Administrative Agent shall
be fully justified in failing or refusing to take any action under any Loan
Document unless it shall first receive such advice or concurrence of the
Required Lenders as it deems appropriate and, if it so requests, it shall first
be indemnified to its satisfaction by the Lenders against any and all liability
and expense which may be incurred by it by reason of taking or continuing to take
any such action.  The Administrative
Agent shall in all cases be fully protected in acting, or in refraining from
acting, under this Agreement or any other Loan Document in accordance with a
request or consent of the Required Lenders (or such greater number of Lenders
as may be expressly required hereby in any instance) and such request and any
action taken or failure to act pursuant thereto shall be binding upon all the
Lenders.

 

(b)                                 For
purposes of determining compliance with the conditions specified in Section
4.01, each Lender that has signed this Agreement shall be deemed to have
consented to, approved or accepted or to be satisfied with, each document or
other matter required thereunder to be consented to or approved by or
acceptable or satisfactory to a Lender unless the Administrative Agent shall
have received notice from such Lender prior to the proposed Closing Date
specifying its objection thereto.

 

9.05                        Notice of Default.  The Administrative Agent shall not be deemed
to have knowledge or notice of the occurrence of any Default, except with
respect to defaults in the payment of principal, interest and fees required to
be paid to the Administrative Agent for the account of the Lenders, unless the
Administrative Agent shall have received written notice from a Lender or the
Company referring to this Agreement, describing such Default and stating that
such notice is a “notice of default.” 
The Administrative Agent will notify the Lenders of its receipt of any
such notice.  The Administrative Agent
shall take such action with respect to such 

 

61

 

Default as may be directed by
the Required Lenders in accordance with Article VIII; provided, however,
that unless and until the Administrative Agent has received any such direction,
the Administrative Agent may (but shall not be obligated to) take such action,
or refrain from taking such action, with respect to such Default as it shall
deem advisable or in the best interest of the Lenders.

 

9.06                        Credit Decision; Disclosure of
Information by Administrative Agent. 
Each Lender acknowledges that no Agent-Related Person has made any
representation or warranty to it, and that no act by the Administrative Agent
hereafter taken, including any confirmation of any Applicant Borrower as a
Designated Borrower pursuant to Section 2.14(c) or any consent to and
acceptance of any assignment or review of the affairs of any Loan Party or any
Affiliate thereof, shall be deemed to constitute any representation or warranty
by any Agent-Related Person to any Lender as to any matter, including whether
Agent-Related Persons have disclosed material information in their
possession.  Each Lender represents to
the Administrative Agent that it has, independently and without reliance upon
any Agent-Related Person and based on such documents and information as it has
deemed appropriate, made its own appraisal of and investigation into the
business, prospects, operations, property, financial and other condition and
creditworthiness of the Loan Parties and their respective Subsidiaries, and all
applicable bank or other regulatory Laws relating to the transactions
contemplated hereby, and made its own decision to enter into this Agreement, to
extend credit to the Company and to extend credit to any Designated Borrower,
which credit is supported by the Company Guaranty.  Each Lender also represents that it will, independently and
without reliance upon any Agent-Related Person and based on such documents and
information as it shall deem appropriate at the time, continue to make its own
credit analysis, appraisals and decisions in taking or not taking action under
this Agreement and the other Loan Documents, and to make such investigations as
it deems necessary to inform itself as to the business, prospects, operations,
property, financial and other condition and creditworthiness of each
Borrower.  Except for notices, reports
and other documents expressly required to be furnished to the Lenders by the
Administrative Agent herein, the Administrative Agent shall not have any duty
or responsibility to provide any Lender with any credit or other information
concerning the business, prospects, operations, property, financial and other
condition or creditworthiness of any of the Loan Parties or any of their respective
Affiliates which may come into the possession of any Agent-Related Person.

 

9.07                        Indemnification of Administrative
Agent.  Whether or not the transactions contemplated
hereby are consummated, the Lenders shall indemnify upon demand each
Agent-Related Person (to the extent not reimbursed by or on behalf of any Loan
Party and without limiting the obligation of any Loan Party to do so), pro
rata, and hold harmless each Agent-Related Person from and against any and all
Indemnified Liabilities incurred by it; provided, however, that
no Lender shall be liable for the payment to any Agent-Related Person of any
portion of such Indemnified Liabilities to the extent determined in a final,
nonappealable judgment by a court of competent jurisdiction to have resulted
from such Agent-Related Person’s own gross negligence or willful misconduct; provided,
however, that no action taken in accordance with the directions of the
Required Lenders shall be deemed to constitute gross negligence or willful
misconduct for purposes of this Section. 
Without limitation of the foregoing, each Lender shall reimburse the
Administrative Agent upon demand for its ratable share of any costs or
out-of-pocket expenses (including Attorney Costs) incurred by the
Administrative Agent in connection with the preparation, execution, delivery,
administration, 

 

62

 

modification, amendment or
enforcement (whether through negotiations, legal proceedings or otherwise) of,
or legal advice in respect of rights or responsibilities under, this Agreement,
any other Loan Document, or any document contemplated by or referred to herein,
to the extent that the Administrative Agent is not reimbursed for such expenses
by or on behalf of the Company.  The
undertaking in this Section shall survive termination of the Aggregate
Commitments, the payment of all other Obligations and the resignation of the
Administrative Agent.

 

9.08                        Administrative Agent in its
Individual Capacity.  Bank of
America and its Affiliates may make loans to, issue letters of credit for the
account of, accept deposits from, acquire equity interests in and generally
engage in any kind of banking, trust, financial advisory, underwriting or other
business with each of the Loan Parties and their respective Affiliates as
though Bank of America were not the Administrative Agent hereunder and without
notice to or consent of the Lenders. 
The Lenders acknowledge that, pursuant to such activities, Bank of
America or its Affiliates may receive information regarding any Loan Party or
its Affiliates (including information that may be subject to confidentiality
obligations in favor of such Loan Party or such Affiliate) and acknowledge that
the Administrative Agent shall be under no obligation to provide such information
to them.  With respect to its Loans,
Bank of America shall have the same rights and powers under this Agreement as
any other Lender and may exercise such rights and powers as though it were not
the Administrative Agent, and the terms “Lender” and “Lenders” include Bank of
America in its individual capacity.

 

9.09                        Successor Administrative Agent.  The Administrative Agent may resign as
Administrative Agent upon 30 days’ notice to the Lenders; provided that
any such resignation of Bank of America shall also constitute its resignation
as Swing Line Lender.  If the
Administrative Agent resigns under this Agreement, the Required Lenders shall
appoint from among the Lenders a successor administrative agent for the
Lenders, which successor administrative agent shall be consented to by the
Company at all times other than during the existence of an Event of Default
(which consent of the Company shall not be unreasonably withheld or
delayed).  If no successor administrative
agent is appointed prior to the effective date of the resignation of the
Administrative Agent, the Administrative Agent may appoint, after consulting
with the Lenders and the Company, a successor administrative agent from among
the Lenders.  Upon the acceptance of its
appointment as successor administrative agent hereunder, the Person acting as
such successor administrative agent shall succeed to all the rights, powers and
duties of the retiring Administrative Agent and Swing Line Lender and the
respective terms “Administrative Agent” and “Swing Line Lender” shall mean such
successor administrative agent and swing line lender and the retiring
Administrative Agent’s appointment, powers and duties as Administrative Agent
shall be terminated and the retiring Swing Line Lender’s rights, powers and
duties as such shall be terminated, without any other or further act or deed on
the part of such retiring Swing Line Lender or any other Lender.  After any retiring Administrative Agent’s
resignation hereunder as Administrative Agent, the provisions of this Article
IX and Sections 10.04 and 10.05 shall inure to its benefit as
to any actions taken or omitted to be taken by it while it was Administrative
Agent under this Agreement.  If no
successor administrative agent has accepted appointment as Administrative Agent
by the date which is 30 days following a retiring Administrative Agent’s notice
of resignation, the retiring Administrative Agent’s resignation shall
nevertheless thereupon become effective and the Lenders shall perform all of
the duties of the Administrative Agent hereunder until such time, if any, as
the Required Lenders appoint a successor agent as provided for above.

 

63

 

9.10                        Administrative Agent May File Proofs
of Claim.  In case of the pendency
of any receivership, insolvency, liquidation, bankruptcy, reorganization,
arrangement, adjustment, composition or other judicial proceeding relative to
any Loan Party, the Administrative Agent (irrespective of whether the principal
of any Loan shall then be due and payable as herein expressed or by declaration
or otherwise and irrespective of whether the Administrative Agent shall have
made any demand on any Borrower) shall be entitled and empowered, by
intervention in such proceeding or otherwise

 

(a)                                  to
file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans and all other Obligations that are owing and
unpaid and to file such other documents as may be necessary or advisable in
order to have the claims of the Lenders and the Administrative Agent (including
any claim for the reasonable compensation, expenses, disbursements and advances
of the Lenders and the Administrative Agent and their respective agents and
counsel and all other amounts due the Lenders and the Administrative Agent
under Sections 2.03(i) and (j), 2.09 and 11.04)
allowed in such judicial proceeding; and

 

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

 

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

 

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

 

9.11                        Other Agents; Arrangers and Managers.  None of the Lenders or other Persons
identified on the facing page or signature pages of this Agreement as a
“syndication agent,” “documentation agent,” “co-agent,” “book manager,” “lead
manager,” “arranger,” “lead arranger” or “co-arranger” shall have any right,
power, obligation, liability, responsibility or duty under this Agreement other
than, in the case of such Lenders, those applicable to all Lenders as
such.  Without limiting the foregoing,
none of the Lenders or other Persons so identified shall have or be deemed to
have any fiduciary relationship with any Lender.  Each Lender acknowledges that it has not relied, and will not
rely, on any of the Lenders or other Persons so identified in deciding to enter
into this Agreement or in taking or not taking action hereunder.

 

64

 

ARTICLE X.

COMPANY GUARANTY

 

10.01                 Guaranty.  The Company hereby absolutely,
unconditionally and irrevocably guarantees the punctual payment when due,
whether at scheduled maturity or on any date of a required prepayment or by
acceleration, demand or otherwise, of all Obligations of each Designated
Borrower now or hereafter existing under or in respect of the Loan Documents
(including, without limitation, any extensions, modifications, substitutions,
amendments or renewals of any or all of the foregoing Obligations), whether
direct or indirect, absolute or contingent, and whether for principal,
interest, premiums, fees, indemnities, contract causes of action, costs,
expenses or otherwise (such Obligations being the “Guaranteed Obligations”),
and agrees to pay any and all expenses (including, without limitation, Attorney
Costs) incurred by the Administrative Agent or any other Lender Party in
enforcing any rights under this Company Guaranty or any other Loan
Document.  Without limiting the
generality of the foregoing, the Company’s liability shall extend to all
amounts that constitute part of the Guaranteed Obligations and would be owed by
any Designated Borrower to any Lender Party under or in respect of the Loan
Documents but for the fact that they are unenforceable or not allowable due to
the existence of a bankruptcy, reorganization or similar proceeding under any
Debtor Relief Law involving such Designated Borrower.

 

10.02                 Guaranty Absolute.  The
Company guarantees that the Guaranteed Obligations will be paid strictly in
accordance with the terms of the Loan Documents, regardless of any Law now or
hereafter in effect in any jurisdiction affecting any of such terms or the
rights of any Lender Party with respect thereto.  The Obligations of the Company under or in respect of this
Company Guaranty are independent of the Guaranteed Obligations or any other
Obligations of any other Loan Party under or in respect of the Loan Documents,
and a separate action or actions may be brought and prosecuted against the
Company to enforce this Company Guaranty, irrespective of whether any action is
brought against any applicable Designated Borrower or any other Loan Party or
whether such Designated Borrower or any other Loan Party is joined in any such
action or actions.  This Company
Guaranty is an absolute and unconditional guaranty of payment when due, and not
of collection, by the Company of the Guaranteed Obligations.  The liability of the Company under this
Company Guaranty shall be irrevocable, absolute and unconditional irrespective
of, and the Company hereby irrevocably waives any setoffs, counterclaims or
defenses it may now have or hereafter acquire in any way relating to, any or
all of the following:

 

(a)                                  any
lack of validity or enforceability of any Loan Document or any agreement or
instrument relating thereto;

 

(b)                                 any
change in the time, manner or place of payment of, or in any other term of, all
or any of the Guaranteed Obligations or any other Obligations of any other Loan
Party under or in respect of the Loan Documents, or any other amendment or
waiver of or any consent to departure from any Loan Document, including,
without limitation, any increase in the Guaranteed Obligations resulting from the
extension of additional credit to any Loan Party or any of its Subsidiaries or
otherwise;

 

65

 

(c)                                  any
taking, exchange, release or non-perfection of any collateral, or any taking,
release or amendment or waiver of, or consent to departure from, any other
guaranty, for all or any of the Guaranteed Obligations;

 

(d)                                 any
manner of application of any collateral, or proceeds thereof, to all or any of
the Guaranteed Obligations, or any manner of sale or other disposition of any
collateral for all or any of the Guaranteed Obligations or any other
Obligations of any Loan Party under the Loan Documents or any other assets of
any Loan Party or any of its Subsidiaries;

 

(e)                                  any
change, restructuring or termination of the corporate structure or existence of
any Loan Party or any of its Subsidiaries or any insolvency, bankruptcy,
reorganization or other similar proceeding affecting any applicable Designated
Borrower or any other Loan Party or its assets or any resulting release or
discharge of any Guaranteed Obligation;

 

(f)                                    the
existence of any claim, set-off or other right which the Company may have at
any time against any Designated Borrower, the Administrative Agent, any Lender
or any other Person, whether in connection herewith or any unrelated
transaction;

 

(g)                                 any
invalidity or unenforceability relating to or against any applicable Designated
Borrower or any other Loan Party for any reason of the whole or any provision
of any Loan Document, or any provision of applicable Law purporting to prohibit
the payment or performance by any applicable Loan Party of the Guaranteed
Obligations;

 

(h)                                 any
failure of any Lender Party to disclose to any Loan Party any information
relating to the business, condition (financial or otherwise), operations,
performance, properties or prospects of any other Loan Party now or hereafter
known to such Lender Party (the Company waiving any duty on the part of the
Lender Parties to disclose such information);

 

(i)                                     the
failure of any other Person to execute or deliver any other guaranty or
agreement or the release or reduction of liability of any such other guarantor
or surety with respect to the Guaranteed Obligations; or

 

(j)                                     any
other circumstance (including, without limitation, any statute of limitations)
whatsoever (in any case, whether based on contract, tort or any other theory)
or any existence of or reliance on any representation by any Lender Party that
might otherwise constitute a legal or equitable defense available to, or a
discharge of, the Company, any other Loan Party or surety.

 

This Company Guaranty shall continue to be effective or be reinstated,
as the case may be, if at any time any payment of any of the Guaranteed
Obligations is rescinded or must otherwise be returned by any Lender Party or
any other Person upon the insolvency, bankruptcy or reorganization under any
applicable Debtor Relief Law of any applicable Designated Borrower or any other
Loan Party or otherwise, all as though such payment had not been made.

 

10.03                 Waivers and Acknowledgments.

 

(a)                                  The
Company hereby unconditionally and irrevocably waives promptness, diligence,
notice of acceptance, presentment, demand for performance, notice of
nonperformance, default, acceleration, protest or dishonor and any other notice
with respect to 

 

66

 

any of the Guaranteed
Obligations and this Company Guaranty and any requirement that any Lender Party
protect, secure, perfect or insure any Lien or any property subject thereto or
exhaust any right or take any action against any Loan Party or any other Person
or any collateral.

 

(i)                                     The Company hereby
unconditionally and irrevocably waives any right to revoke this Company
Guaranty and acknowledges that this Company Guaranty is continuing in nature
and applies to all Guaranteed Obligations, whether existing now or in the
future.

 

(ii)                                  The Company hereby
unconditionally and irrevocably waives (i) any defense arising by reason
of any claim or defense based upon an election of remedies by any Lender Party
that in any manner impairs, reduces, releases or otherwise adversely affects
the subrogation, reimbursement, exoneration, contribution or indemnification
rights of the Company or other rights of the Company to proceed against any of
the other Loan Parties or any other Person or any collateral and (ii) any
defense based on any right of set-off or counterclaim against or in respect of
the Obligations of the Company under this Company Guaranty.

 

(iii)                               The Company acknowledges
that the Administrative Agent may, without notice to or demand upon the Company
and without affecting the liability of the Company under this Company Guaranty,
foreclose under any mortgage as may secure any Obligation by nonjudicial sale,
and the Company hereby waives any defense to the recovery by the Administrative
Agent and the other Lender Parties against the Company of any deficiency after
such nonjudicial sale and any defense or benefits that may be afforded by
applicable Law.

 

(iv)                              The Company hereby
unconditionally and irrevocably waives any duty on the part of any Lender Party
to disclose to the Company any matter, fact or thing relating to the business,
condition (financial or otherwise), operations, performance, properties or
prospects of any other Loan Party or any of its Subsidiaries now or hereafter
known by such Lender Party.

 

(v)                                 The Company
acknowledges that it will receive substantial direct and indirect benefits from
the financing arrangements contemplated by the Loan Documents and that the
waivers set forth in Section 11.02 and this Section 11.03 are
knowingly made in contemplation of such benefits.

 

10.04                 Subrogation.  The Company hereby unconditionally and
irrevocably agrees not to exercise any rights that it may now have or hereafter
acquire against any applicable Designated Borrower, or any other insider
guarantor that arise from the existence, payment, performance or enforcement of
the Company Obligations under or in respect of this Company Guaranty or any
other Loan Document, including, without limitation, any right of subrogation,
reimbursement, exoneration, contribution or indemnification and any right to
participate in any claim or remedy of any Lender Party against such Designated
Borrower, any other Loan Party or any other insider guarantor or any collateral
for the Obligations, whether or not such claim, remedy or right arises in
equity or under contract, statute or common law, including, without limitation,
the right to take or receive from such Designated Borrower, any other Loan
Party or 

 

67

 

any other
insider guarantor, directly or indirectly, in cash or other property or by
set-off or in any other manner, payment or security on account of such claim,
remedy or right, unless and until the date (the “Termination Date”)
which is the later of (a) the date of the termination of the Availability
Period and (b) the date of the indefeasible payment in full of all the
Obligations in cash.  If any amount
shall be paid to the Company in violation of the immediately preceding sentence
at any time prior to the Termination Date, such amount shall be received and
held in trust for the benefit of the Lender Parties, shall be segregated from
other property and funds of the Company and shall forthwith be paid or delivered
to the Administrative Agent in the same form as so received (with any necessary
endorsement or assignment) to be credited and applied to the Guaranteed
Obligations and all other amounts payable under this Company Guaranty, whether
matured or unmatured, in accordance with the terms of the Loan Documents, or to
be held as collateral for any Guaranteed Obligations or other amounts payable
under this Company Guaranty thereafter arising.  If the Termination Date shall have occurred, the Administrative Agent
will, at the Company’s request and expense, execute and deliver to the Company
appropriate documents, without recourse and without representation or warranty,
necessary to evidence the transfer by subrogation to the Company of an interest
in the Guaranteed Obligations resulting from such payment made by the Company
pursuant to this Company Guaranty.

 

ARTICLE XI.

MISCELLANEOUS

 

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

 

(a)                                  waive
any condition set forth in Section 4.01(a) without the written consent
of each Lender;

 

(b)                                 extend
or increase the Commitment of any Lender (or reinstate any Commitment
terminated pursuant to Section 8.02) without the written consent of such
Lender;

 

(c)                                  postpone
any date fixed by this Agreement or any other Loan Document for any payment of
principal, interest, fees or other amounts due to the Lenders (or any of them)
hereunder or under any other Loan Document without the written consent of each
Lender directly affected thereby;

 

(d)                                 reduce
the principal of, or the rate of interest specified herein on, any Loan or
(subject to clause (iv) of the second proviso to this Section 11.01) any
fees or other amounts payable hereunder or under any other Loan Document
without the written consent of each Lender directly affected thereby; provided,
however, that only the consent of the Required Lenders shall be
necessary to amend the definition of “Default Rate” or to waive any obligation
of any Borrower to pay interest at the Default Rate;

 

68

 

(e)                                  change
Section 2.06, Section 2.12(a), Section 2.13 or Section
8.03 in a manner that would alter the pro rata sharing of payments or
commitment reductions required thereby without the written consent of each
Lender;

 

(f)                                    amend
Section 1.07 or the definition of “Alternative Currency” without
the written consent of each Lender;

 

(g)                                 change
any provision of this Section or the definition of “Required Lenders” or any
other provision hereof specifying the number or percentage of Lenders required to
amend, waive or otherwise modify any rights hereunder or make any determination
or grant any consent hereunder, without the written consent of each Lender; or

 

(h)                                 release
the Company from the Company Guaranty  without the written consent of each
Lender;

 

and, provided
further, that (i) no amendment, waiver or consent shall, unless in
writing and signed by the Swing Line Lender in addition to the Lenders required
above, affect the rights or duties of the Swing Line Lender under this
Agreement; (ii) no amendment, waiver or consent shall, unless in writing and
signed by the Administrative Agent in addition to the Lenders required above,
affect the rights or duties of the Administrative Agent under this Agreement or
any other Loan Document; (iii) Section 11.07(h) may not be amended,
waived or otherwise modified without the consent of each Granting Lender all or
any part of whose Loans are being funded by an SPC at the time of such
amendment, waiver or other modification; and (iv) the Fee Letter may be
amended, or rights or privileges thereunder waived, in a writing executed only
by the parties thereto.  Notwithstanding
anything to the contrary herein, no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder, except that
(x) the Commitment of such Lender may not be increased or extended without the
consent of such Lender and (y) Section 2.06, Section 2.12(a), Section
2.13 and Section 8.03 may not be changed in any manner that would
alter the pro rata sharing of payments required thereby without the consent of
such Lender.

 

11.02                 Notices and Other Communications;
Facsimile Copies.

 

(a)                                  General.  Unless otherwise expressly provided herein,
all notices and other communications provided for hereunder shall be in writing
(including by facsimile transmission). 
All such written notices shall be mailed, faxed or delivered to the
applicable address, facsimile number or (subject to subsection (c) below)
electronic mail address, and all notices and other communications expressly
permitted hereunder to be given by telephone shall be made to the applicable
telephone number, as follows:

 

(i)                                     if to the
Borrowers, the Administrative Agent or the Swing Line Lender, to the address,
facsimile number, electronic mail address or telephone number specified for
such Person on Schedule 11.02 or to such other address, facsimile
number, electronic mail address or telephone number as shall be designated by
such party in a notice to the other parties; and

 

(ii)                                  if to any other
Lender, to the address, facsimile number, electronic mail address or telephone
number specified in its Administrative Questionnaire or to such 

 

69

 

other address,
facsimile number, electronic mail address or telephone number as shall be
designated by such party in a notice to the Company, the Administrative Agent
and the Swing Line Lender.

 

All such
notices and other communications shall be deemed to be given or made upon the
earlier to occur of (A) actual receipt by the relevant party hereto and (B) (1)
if delivered by hand or by courier, when signed for by or on behalf of the
relevant party hereto; (2) if delivered by mail, four Business Days after
deposit in the mails, postage prepaid; (3) if delivered by facsimile, when sent
and receipt has been confirmed by telephone; and (4) if delivered by electronic
mail (which form of delivery is subject to the provisions of subsection (c)
below), when delivered; provided, however, that notices and other
communications to the Administrative Agent and the Swing Line Lender pursuant
to Article II shall not be effective until actually received by such
Person.  In no event shall a voicemail
message be effective as a notice, communication or confirmation hereunder.

 

(b)                                 Effectiveness
of Facsimile Documents and Signatures. 
Loan Documents may be transmitted and/or signed by facsimile.  The effectiveness of any such documents and
signatures shall, subject to applicable Law, have the same force and effect as
manually-signed originals and shall be binding on all Loan Parties, the
Administrative Agent and the Lenders. 
The Administrative Agent may also require that any such documents and
signatures be confirmed by a manually-signed original thereof; provided,
however, that the failure to request or deliver the same shall not limit
the effectiveness of any facsimile document or signature.

 

(c)                                  Limited
Use of Electronic Mail.  Electronic
mail and Internet and intranet websites may be used only to distribute routine
communications, such as financial statements and other information as provided
in Section 6.02, and to distribute Loan Documents for execution by the
parties thereto, and may not be used for any other purpose.

 

(d)                                 Reliance
by Administrative Agent and Lenders.  The
Administrative Agent and the Lenders shall be entitled to rely and act upon any
notices (including telephonic Committed Loan Notices and Swing Line Loan
Notices) purportedly given by or on behalf of any Borrower even if (i) such
notices were not made in a manner specified herein, were incomplete or were not
preceded or followed by any other form of notice specified herein, or (ii) the
terms thereof, as understood by the recipient, varied from any confirmation
thereof.  The Company shall indemnify
each Agent-Related Person and each Lender from all losses, costs, expenses and
liabilities resulting from the reliance by such Person on each notice
purportedly given by or on behalf of any Borrower.  All telephonic notices to and other communications with the
Administrative Agent may be recorded by the Administrative Agent, and each of
the parties hereto hereby consents to such recording.

 

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

 

70

 

11.04                 Costs and Expenses.  The
Company agrees (a) to pay or reimburse the Administrative Agent for all
out-of-pocket costs and expenses incurred in connection with the development,
preparation, negotiation and execution of this Agreement and the other Loan
Documents and any amendment, waiver, consent or other modification of the
provisions hereof and thereof (whether or not the transactions contemplated
hereby or thereby are consummated), and the consummation and administration of
the transactions contemplated hereby and thereby, including all Attorney Costs,
and (b) to pay or reimburse the Administrative Agent and each Lender for all
costs and expenses incurred in connection with the enforcement, attempted
enforcement, or preservation of any rights or remedies under this Agreement or
the other Loan Documents (including all such costs and expenses incurred during
any “workout” or restructuring in respect of the Obligations and during any
legal proceeding, including any proceeding under any Debtor Relief Law),
including all Attorney Costs.  The
foregoing costs and expenses shall include all search, filing, recording, title
insurance and appraisal charges and fees and recording, documentary and similar
taxes related thereto, and other out-of-pocket expenses incurred by the Administrative
Agent and the cost of independent public accountants and other outside experts
retained by the Administrative Agent or any Lender.  All amounts due under this Section 11.04 shall be paid
promptly and, in any case under clause (b) of this Section 11.04, within
20 Business Days after demand therefor. 
The agreements in this Section shall survive the termination of the
Aggregate Commitments and repayment of all other Obligations.

 

11.05                 Indemnification by the Company.  Whether or not the transactions contemplated
hereby are consummated, the Company shall indemnify and hold harmless each
Agent-Related Person, each Lender and their respective Affiliates, directors,
officers, employees, counsel, agents and attorneys-in-fact (collectively the “Indemnitees”)
from and against any and all liabilities, obligations, losses, damages,
penalties, claims, demands, actions, judgments, suits, costs, expenses and
disbursements (including Attorney Costs) of any kind or nature whatsoever which
may at any time be imposed on, incurred by or asserted against any such
Indemnitee in any way relating to or arising out of or in connection with (a)
the execution or delivery of this Agreement, any other Loan Document or any
agreement or instrument contemplated hereby or thereby, the performance by the
parties hereto of their respective obligations hereunder or the consummation of
the transactions contemplated hereby or thereby, (b) any Commitment or Loan or
the use or proposed use of the proceeds therefrom, or (c) any actual or
prospective claim, litigation, investigation or proceeding relating to any of
the foregoing, whether based on contract, tort or any other theory (including
any investigation of, preparation for, or defense of any pending or threatened
claim, investigation, litigation or proceeding) and regardless of whether any
Indemnitee is a party thereto (all the foregoing, collectively, the “Indemnified
Liabilities”); provided that such indemnity shall not, as to any
Indemnitee, be available to the extent that such liabilities, obligations,
losses, damages, penalties, claims, demands, actions, judgments, suits, costs,
expenses or disbursements are determined by a court of competent jurisdiction
by final and nonappealable judgment to have resulted from the gross negligence
or willful misconduct of such Indemnitee. 
No Indemnitee shall be liable for any damages arising from the use by
others of any information or other materials obtained through IntraLinks or
other similar information transmission systems in connection with this
Agreement, nor shall any Indemnitee have any liability for any indirect or
consequential damages relating to this Agreement or any other Loan Document or
arising out of its activities in connection herewith or therewith (whether
before or after the Closing Date).  All
amounts due under this Section 11.05 shall be payable within 20 Business
Days after demand therefor.  The
agreements in this Section shall survive the 

 

71

 

resignation of the Administrative
Agent, the replacement of any Lender, the termination of the Aggregate
Commitments and the repayment, satisfaction or discharge of all the other
Obligations.

 

11.06                 Payments Set Aside.  To the
extent that any payment by or on behalf of any Borrower is made to the
Administrative Agent or any Lender, or the Administrative Agent or any Lender
exercises its right of set-off, and such payment or the proceeds of such
set-off or any part thereof is subsequently invalidated, declared to be
fraudulent or preferential, set aside or required (including pursuant to any
settlement entered into by the Administrative Agent or such Lender in its
discretion) to be repaid to a trustee, receiver or any other party, in
connection with any proceeding under any Debtor Relief Law or otherwise, then
(a) to the extent of such recovery, the obligation or part thereof originally
intended to be satisfied shall be revived and continued in full force and
effect as if such payment had not been made or such set-off had not occurred, and
(b) each Lender severally agrees to pay to the Administrative Agent upon demand
its applicable share of any amount so recovered from or repaid by the
Administrative Agent, plus interest thereon from the date of such demand to the
date such payment is made at a rate per annum equal to the applicable Overnight
Rate from time to time in effect, in the applicable currency of such recovery
or payment.

 

11.07                 Successors and Assigns.

 

(a)                                  The
provisions of this Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns permitted
hereby, except that no Borrower may assign or otherwise transfer any of its
rights or obligations hereunder without the prior written consent of each
Lender and no Lender may assign or otherwise transfer any of its rights or
obligations hereunder except (i) to an Eligible Assignee in accordance with the
provisions of subsection (b) of this Section, (ii) by way of participation in
accordance with the provisions of subsection (d) of this Section, (iii) by way
of pledge or assignment of a security interest subject to the restrictions of
subsection (f) or (i) of this Section, or (iv) to an SPC in accordance with the
provisions of subsection (h) of this Section (and any other attempted
assignment or transfer by any party hereto shall be null and void).  Nothing in this Agreement, expressed or
implied, shall be construed to confer upon any Person (other than the parties
hereto, their respective successors and assigns permitted hereby, Participants
to the extent provided in subsection (d) of this Section and, to the extent
expressly contemplated hereby, the Indemnitees) any legal or equitable right,
remedy or claim under or by reason of this Agreement.

 

(b)                                 Any
Lender may at any time assign to one or more Eligible Assignees all or a
portion of its rights and obligations under this Agreement (including all or a
portion of its Commitment and the Loans (including for purposes of this
subsection (b), participations in Swing Line Loans) at the time owing to it); provided
that (i) except in the case of an assignment of the entire remaining amount of
the assigning Lender’s Commitment and the Loans at the time owing to it or in
the case of an assignment to a Lender or an Affiliate of a Lender or an
Approved Fund (as defined in subsection (g) of this Section) with respect to a
Lender, the aggregate amount of the Commitment (which for this purpose includes
Loans outstanding thereunder) subject to each such assignment, determined as of
the date the Assignment and Assumption with respect to such assignment is
delivered to the Administrative Agent or, if “Trade Date” is specified in the
Assignment and Assumption, as of the Trade Date, shall not be 

 

72

 

less than $5,000,000  unless
each of the Administrative Agent and, so long as no Event of Default has
occurred and is continuing, the Company otherwise consents (each such consent
not to be unreasonably withheld or delayed); (ii) each partial assignment shall
be made as an assignment of a proportionate part of all the assigning Lender’s
rights and obligations under this Agreement with respect to the Loans or the
Commitment assigned, except that this clause (ii) shall not apply to rights in
respect of Swing Line Loans; (iii) any assignment of a Commitment must be
approved by the Administrative Agent and the Swing Line Lender (each such
approval not to be unreasonably withheld or delayed) unless the Person that is
the proposed assignee is itself a Lender (whether or not the proposed assignee
would otherwise qualify as an Eligible Assignee); and (iv) the parties to each
assignment shall execute and deliver to the Administrative Agent an Assignment
and Assumption, together with a processing and recordation fee of $3,500.  Subject to acceptance and recording thereof
by the Administrative Agent pursuant to subsection (c) of this Section, from
and after the effective date specified in each Assignment and Assumption, the
Eligible Assignee thereunder shall be a party to this Agreement and, to the
extent of the interest assigned by such Assignment and Assumption, have the
rights and obligations of a Lender under this Agreement, and the assigning
Lender thereunder shall, to the extent of the interest assigned by such Assignment
and Assumption, be released from its obligations under this Agreement (and, in
the case of an Assignment and Assumption covering all of the assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a
party hereto but shall continue to be (A) entitled to the benefits of Sections
3.01, 3.04, 3.05, 11.04 and 11.05 with respect
to facts and circumstances occurring prior to the effective date of such
assignment and (B) subject to obligations in Section 3.01 (e) and (f)).  Upon request, each Borrower (at its expense)
shall execute and deliver a Note to the assignee Lender.  Any assignment or transfer by a Lender of
rights or obligations under this Agreement that does not comply with this
subsection shall be treated for purposes of this Agreement as a sale by such
Lender of a participation in such rights and obligations in accordance with
subsection (d) of this Section.  An
Eligible Assignee of a Lender shall not be entitled to receive any greater
payment under Sections 3.01 or 3.04 than such Lender would have
been entitled to receive as of the date such Eligible Assignee became a party
to this Agreement; provided, however, that this limitation shall
not apply to any Eligible Assignee designated by the Company pursuant to Section
11.16; and provided, further, that this limitation shall also
not apply with respect to Loans to Borrowers not a party to this Agreement as
of the date such Eligible Assignee became a party to this Agreement.

 

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

 

(d)                                 Any
Lender may at any time, without the consent of, or notice to, any Borrower or
the Administrative Agent, sell participations to any Person (other than a natural
person or the Company or any of the Company’s Affiliates or Subsidiaries)
(each, a “Participant”) in all or a 

 

73

 

portion of such Lender’s rights
and/or obligations under this Agreement (including all or a portion of its
Commitment and/or the Loans (including such Lender’s participations in Swing
Line Loans) owing to it); provided that (i) such Lender’s
obligations under this Agreement shall remain unchanged, (ii) such Lender
shall remain solely responsible to the other parties hereto for the performance
of such obligations and (iii) the Borrowers, the Administrative Agent and
the other Lenders shall continue to deal solely and directly with such Lender
in connection with such Lender’s rights and obligations under this
Agreement.  Any agreement or instrument
pursuant to which a Lender sells such a participation shall provide that such
Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any 
provision of this Agreement; provided that such agreement or
instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, waiver or other modification described in
the first proviso to Section 11.01 that directly affects such
Participant.  Subject to subsection (e)
of this Section, each Borrower agrees that each Participant shall be entitled
to the benefits of Sections 3.01, 3.04 and 3.05  to
the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to subsection (b) of this Section.  To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 11.09  as
though it were a Lender, provided such Participant agrees to be subject
to Section 2.13 as though it were a Lender.

 

(e)                                  A
Participant shall not be entitled to receive any greater payment under Section
3.01 or 3.04  than the applicable Lender would have
been entitled to receive with respect to the participation sold to such
Participant, unless the sale of the participation to such Participant is made
with the Company’s prior written consent. 
A Participant that would be a Foreign Lender if it were a Lender shall
not be entitled to the benefits of Section 3.01 unless the Company
is notified of the participation sold to such Participant and such Participant
agrees, for the benefit of the Borrowers, to comply with Section 11.15
as though it were a Lender.

 

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

 

(g)                                 As
used herein, the following terms have the following meanings:

 

“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 Administrative Agent
and the Swing Line Lender, and (ii) unless an Event of Default has occurred and
is continuing, the Company (each such approval not to be unreasonably withheld
or delayed); provided that notwithstanding the foregoing, “Eligible
Assignee” shall not include the Company or any of the Company’s Affiliates or
Subsidiaries.

 

“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.

 

74

 

“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.

 

(h)                                 Notwithstanding
anything to the contrary contained herein, any Lender (a “Granting Lender”)
may grant to a special purpose funding vehicle identified as such in writing
from time to time by the Granting Lender to the Administrative Agent and the
Company (an “SPC”) the option to provide all or any part of any
Committed Loan that such Granting Lender would otherwise be obligated to make
pursuant to this Agreement; provided that (i) nothing herein shall
constitute a commitment by any SPC to fund any Committed Loan, and (ii) if an
SPC elects not to exercise such option or otherwise fails to make all or any
part of such Committed Loan, the Granting Lender shall be obligated to make
such Committed Loan pursuant to the terms hereof or, if it fails to do so, to
make such payment to the Administrative Agent as is required under Section
2.12(c)(ii).  Each party hereto hereby
agrees that (i) neither the grant to any SPC nor the exercise by any SPC of
such option shall increase the costs or expenses or otherwise increase or
change the obligations of the Borrowers under this Agreement (including its
obligations under Sections 3.01 and 3.04), (ii) no SPC shall be
liable for any indemnity or similar payment obligation under this Agreement for
which a Lender would be liable, and (iii) the Granting Lender shall for all
purposes, including the approval of any amendment, waiver or other modification
of any provision of any Loan Document, remain the lender of record
hereunder.  The making of a Committed
Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to
the same extent, and as if, such Committed Loan were made by such Granting
Lender.  In furtherance of the
foregoing, each party hereto hereby agrees (which agreement shall survive the
termination of this Agreement) that, prior to the date that is one year and one
day after the payment in full of all outstanding commercial paper or other
senior debt of any SPC, it will not institute against, or join any other Person
in instituting against, such SPC any bankruptcy, reorganization, arrangement,
insolvency, or liquidation proceeding under the laws of the United States or
any State thereof.  Notwithstanding
anything to the contrary contained herein, any SPC may (i) with notice to, but
without prior consent of the Company and the Administrative Agent and with the payment
of a processing fee of $3,500, assign all or any portion of its right to
receive payment with respect to any Committed Loan to the Granting Lender and
(ii) disclose on a confidential basis any non-public information relating to
its funding of Committed Loans to any rating agency, commercial paper dealer or
provider of any surety or Guarantee or credit or liquidity enhancement to such
SPC.

 

(i)                                     Notwithstanding anything to the contrary
contained herein, any Lender that is a Fund may create a security interest in
all or any portion of the Loans owing to it and the Note, if any, held by it to
the trustee for holders of obligations owed, or securities issued, by such Fund
as security for such obligations or securities, provided that unless and
until such trustee actually becomes a Lender in compliance with the other
provisions of this Section 11.07, (i) no such pledge shall release the
pledging Lender from any of its obligations under the Loan Documents and (ii)
such trustee shall not be entitled to exercise any of the rights of a Lender
under the Loan Documents even though such trustee may have acquired ownership
rights with respect to the pledged interest through foreclosure or otherwise.

 

(j)                                     Notwithstanding
anything to the contrary contained herein, if at any time Bank of America
assigns all of its Commitment and Loans pursuant to subsection (b) above, Bank
of

 

75

 

America may, upon 30 days’
notice to the Company, resign as Swing Line Lender.  In the event of any such resignation as Swing Line Lender, the
Company shall be entitled to appoint from among the Lenders a successor Swing
Line Lender hereunder; provided, however, that no failure by the
Company to appoint any such successor shall affect the resignation of Bank of
America as Swing Line Lender.  If Bank
of America resigns as Swing Line Lender, it shall retain all the rights of the
Swing Line Lender provided for hereunder with respect to Swing Line Loans made
by it and outstanding as of the effective date of such resignation, including
the right to require the Lenders to make Base Rate Committed Loans or fund risk
participations in outstanding Swing Line Loans pursuant to Section 2.04(c).

 

11.08                 Confidentiality.  Each of the Administrative Agent and the
Lenders agrees to maintain the confidentiality of the Information (as defined
below), except that Information may be disclosed (a) to it, its Affiliates and
their respective partners, directors, officers, employees, agents, advisors and
representatives (it being understood that the Persons to whom such disclosure
is made will be informed of the confidential nature of such Information and
instructed to keep such Information confidential), (b) to the extent required
by any regulatory authority (including any self-regulatory authority, such as the
National Association of Insurance Commissioners), (c) to the extent required by
applicable laws or regulations or by any subpoena or similar legal process, (d)
to any other party hereto, (e) in connection with the exercise of any remedies
hereunder or under any other Loan Document or any action or proceeding relating
to this Agreement or any other Loan Document or the enforcement of rights
hereunder or thereunder, (f) subject to an agreement containing provisions
substantially the same as those of this Section, to (i) any assignee of or
Participant in, or any prospective assignee of or Participant in, any of its
rights or obligations under this Agreement or (ii) any actual or prospective
counterparty (or its advisors) to any swap or derivative transaction relating
to a Borrower and its obligations, (g) with the prior written consent of the
Company or (h) to the extent such Information (x) becomes publicly available
other than as a result of a breach of this Section or (y) becomes available to
the Administrative Agent or any Lender on a nonconfidential basis from a source
other than the Company; provided, however, that the source of
such information was not known by the Administrative Agent or such Lender, as
the case may be, to be bound by a confidentiality agreement or other legal or
contractual obligation of confidentiality with respect to such
information.  For purposes of this
Section, “Information” means all information received from any Loan
Party relating to any Loan Party or any of its businesses, other than any such
information that is publicly available or otherwise available to the
Administrative Agent or any Lender, as the case may be, on a nonconfidential
basis prior to disclosure by any Loan Party; provided, however,
that the source of such information was not known by the Administrative Agent
or such Lender, as the case may be, to be bound by a confidentiality agreement
or other legal or contractual obligation of confidentiality with respect to
such information.  Any Person required
to maintain the confidentiality of Information as provided in this Section
shall be considered to have complied with its obligation to do so if such
Person has exercised the same degree of care to maintain the confidentiality of
such Information as such Person would accord to its own confidential
information.  Notwithstanding anything
herein to the contrary, “Information” shall not include, and the Borrowers, the
Administrative Agent and each Lender (and each employee, representative or
other agent of such Person) may disclose to any and all Persons, without
limitation of any kind, any information with respect to the Tax Treatment and
Tax Structure (in each case, as defined below) of the transactions contemplated
hereby and all materials of any kind (including opinions or other tax analyses)
that are provided to the

 

76

 

Borrowers, the Administrative
Agent or such Lender relating to such Tax Treatment and Tax Structure; provided
that with respect to any document or similar item that in either case contains
information concerning the Tax Treatment or Tax Structure of the transaction as
well as other information, this sentence shall only apply to such portions of
the document or similar item that relate to the Tax Treatment or Tax Structure
of the transactions contemplated hereby. 
For purposes of this Section, “Tax Treatment” means the purported or
claimed tax treatment of a transaction and “Tax Structure” means any fact that
may be relevant to understanding the purported or claimed tax treatment of a
transaction.  The Company acknowledges
that one or more of the Lenders may treat its Committed Loans and/or its
interest in Swing Line Loans as part of a transaction that is subject to Treasury
Regulation Section 1.6011-4 or Section 301.6112-1, and that the Administrative
Agent and such Lender or Lenders, as applicable, may file such IRS forms or
maintain such lists and other records as they may determine are required by
such Treasury Regulations.  In addition,
the Administrative Agent may disclose to any agency or organization that
assigns standard identification numbers to loan facilities such basic
information describing the facilities provided hereunder as is necessary to
assign unique identifiers (and, if requested, supply a copy of this Agreement),
it being understood that the Person to whom such disclosure is made will be
informed of the confidential nature of such Information and instructed to make
available to the public only such Information as such person normally makes available
in the course of its business of assigning identification numbers.

 

11.09                 Set-off.  In addition to any rights and remedies of
the Lenders provided by law, upon the occurrence and during the continuance of
any Event of Default, each Lender is authorized at any time and from time to
time, without prior notice to the Company or any other Loan Party, any such
notice being waived by the Company (on its own behalf and on behalf of each
Loan Party) to the fullest extent permitted by law, to set off and apply any
and all deposits (general or special, time or demand, provisional or final) at
any time held by, and other indebtedness at any time owing by, such Lender to
or for the credit or the account of the respective Loan Parties against any and
all Obligations owing to such Lender hereunder or under any other Loan
Document, now or hereafter existing, irrespective of whether or not the
Administrative Agent or such Lender shall have made demand under this Agreement
or any other Loan Document and although such Obligations may be contingent or
unmatured or denominated in a currency different from that of the applicable
deposit or indebtedness.  Each Lender
agrees promptly to notify the Company and the Administrative Agent after any
such set-off and application made by such Lender; provided, however,
that the failure to give such notice shall not affect the validity of such
set-off and application.

 

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

 

77

 

equal or unequal parts the
total amount of interest throughout the contemplated term of the Obligations
hereunder.

 

11.11                 Counterparts.  This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

 

11.12                 Integration.  This Agreement, together with the other Loan
Documents, comprises the complete and integrated agreement of the parties on
the subject matter hereof and thereof and supersedes all prior agreements,
written or oral, on such subject matter. 
In the event of any conflict between the provisions of this Agreement
and those of any other Loan Document, the provisions of this Agreement shall
control; provided that the inclusion of supplemental rights or remedies
in favor of the Administrative Agent or the Lenders in any other Loan Document
shall not be deemed a conflict with this Agreement.  Each Loan Document was drafted with the joint participation of
the respective parties thereto and shall be construed neither against nor in
favor of any party, but rather in accordance with the fair meaning thereof.

 

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

 

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

 

11.15                 Tax Forms.  (a) 
(i)  Each Lender that is not a
“United States person” within the meaning of Section 7701(a)(30) of the Code (a
“Foreign Lender”) shall deliver to the Administrative Agent, prior to
receipt of any payment subject to withholding under the Code (or upon accepting
an assignment of an interest herein), two duly signed completed copies of
either IRS Form W-8BEN or any successor thereto (relating to such Foreign
Lender and entitling it to an exemption from, or reduction of, withholding tax
on all payments to be made to such Foreign Lender by the Borrowers pursuant to
this Agreement) or IRS Form W-8ECI or any successor thereto (relating to all
payments to be made to such Foreign Lender by the Borrowers pursuant to this
Agreement) or such other evidence satisfactory to the Company and the
Administrative Agent that such Foreign Lender is entitled to an exemption from,
or reduction of, U.S. withholding tax, including any exemption pursuant to
Section 881(c) of the Code.  Thereafter

 

78

 

and from time to time, each
such Foreign Lender shall (A) promptly submit to the Administrative Agent such
additional duly completed and signed copies of one of such forms (or such
successor forms as shall be adopted from time to time by the relevant United
States taxing authorities) as may then be available under then current United
States laws and regulations to avoid, or such evidence as is satisfactory to
the Company and the Administrative Agent of any available exemption from or
reduction of, United States withholding taxes in respect of all payments to be
made to such Foreign Lender by the Borrowers pursuant to this Agreement, (B)
promptly notify the Administrative Agent of any change in circumstances which
would modify or render invalid any claimed exemption or reduction, and (C) take
such steps as shall not be materially disadvantageous to it, in the reasonable
judgment of such Lender, and as may be reasonably necessary (including the
re-designation of its Lending Office) to avoid any requirement of applicable
Laws that any Borrower make any deduction or withholding for taxes from amounts
payable to such Foreign Lender.

 

(ii)                                  Each Foreign Lender,
to the extent it does not act or ceases to act for its own account with respect
to any portion of any sums paid or payable to such Lender under any of the Loan
Documents (for example, in the case of a typical participation by such Lender),
shall deliver to the Administrative Agent on the date when such Foreign Lender
ceases to act for its own account with respect to any portion of any such sums
paid or payable, and at such other times as may be necessary in the
determination of the Administrative Agent (in the reasonable exercise of its
discretion), (A) two duly signed completed copies of the forms or statements
required to be provided by such Lender as set forth above, to establish the
portion of any such sums paid or payable with respect to which such Lender acts
for its own account that is not subject to U.S. withholding tax, and (B) two
duly signed completed copies of IRS Form W-8IMY (or any successor thereto),
together with any information such Lender chooses to transmit with such form,
and any other certificate or statement of exemption required under the Code, to
establish that such Lender is not acting for its own account with respect to a
portion of any such sums payable to such Lender.

 

(iii)                               No Borrower shall be
required to indemnify any Foreign Lender or to pay any additional amount to any
Foreign Lender under Section 3.01, (A) with respect to any Taxes
required to be deducted or withheld on the basis of the information,
certificates or statements of exemption such Lender transmits with an IRS Form
W-8IMY pursuant to this Section 11.15(a), (B) if such Lender shall have
failed to satisfy the foregoing provisions of this Section 11.15(a); provided
that if such Lender shall have satisfied the requirement of this Section 11.15(a)
on the date such Lender became a Lender and any date such Lender has ceased to
act for its own account with respect to any payment under any of the Loan
Documents, nothing in this Section 11.15(a) shall relieve any Borrower
of its obligation to pay any amounts pursuant to Section 3.01 in
the event that, as a result of any change in any applicable law, treaty or
governmental rule, regulation or order, or any change in the official interpretation,
administration or application thereof, such Lender is no longer properly
entitled to deliver forms, certificates or other evidence at a subsequent date
establishing the fact that such Lender or other Person for the account of which
such Lender receives any sums payable under any of the Loan Documents is not
subject to withholding or is subject to withholding at a reduced rate, (C) if
the obligation to withhold or to pay such additional amounts existed under the
Laws of the United

 

79

 

States on the
date such Foreign Lender became a party to this Agreement, (D) with respect to
any SPC, to the extent provided in Section 11.07(h), (E) with respect to
any Participant, to the extent provided in Section 11.07(e), (F)
with respect to any Eligible Assignee, to the extent provided in Section
11.07(b), or (G) if the obligation to indemnify or pay such additional
amounts arose after the date such Foreign Lender became a party to this
Agreement and is in respect of any payment under this Agreement made by the
Company (or any other Borrower which is a Domestic Subsidiary and which became
a party to this Agreement prior to the date such Foreign Lender became a party
to this Agreement), for any reason other than a change in any applicable law,
rule, regulation or order of the United States or any subdivision thereof or
any change in the official interpretation administration or application thereof
after the date such Foreign Lender became a party to this Agreement.

 

(iv)                              The Administrative Agent
may, without reduction, withhold any Taxes required to be deducted and withheld
from any payment under any of the Loan Documents with respect to which any
Borrower is not required to pay additional amounts under Section 3.01 or
this Section 11.15(a).

 

(b)                                 Upon
the request of the Administrative Agent, each Lender that is a “United States
person” within the meaning of Section 7701(a)(30) of the Code shall deliver to
the Administrative Agent two duly signed completed copies of IRS Form W-9
certifying that such Lender is not subject to back-up withholding.  If such Lender fails to deliver such forms,
then the Administrative Agent may withhold from any interest payment to such
Lender an amount equivalent to the applicable back-up withholding tax imposed
by the Code, without reduction.

 

(c)                                  If
any Governmental Authority asserts that the Administrative 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 Administrative Agent therefor, including all penalties and
interest, any taxes imposed by any jurisdiction on the amounts payable to the
Administrative Agent under this Section, and costs and expenses (including
Attorney Costs) of the Administrative Agent. 
The obligation of the Lenders under this Section shall survive the
termination of the Aggregate Commitments, repayment of all other Obligations
hereunder and the resignation of the Administrative Agent.

 

(d)                                 The
Administrative Agent shall provide the Company with a copy of any forms or
other documents provided by any Lender to the Administrative Agent pursuant to Section
3.01(e) and this Section 11.15.

 

11.16                 Replacement of Lenders.  Under any circumstances set forth herein providing that the
Company shall have the right to replace a Lender as a party to this Agreement,
the Company may, upon notice to such Lender and the Administrative Agent,
replace such Lender by causing such Lender to assign its Commitment (with the
assignment fee to be paid by the Company in such instance) pursuant to Section
11.07(b) to one or more other Lenders or Eligible Assignees procured by the
Company; provided, however, that if the Company elects to
exercise such right with respect to any Lender pursuant to Section 3.06(b),
it shall be obligated to replace all Lenders that have made similar requests
for compensation pursuant to Section 3.01 or 3.04; and provided
further that in the case of any Committed Loans denominated in an Alternative

 

80

 

Currency, no such assignment
shall be required other than on the last day of the applicable Interest Period
for such Committed Loans, unless the affected Lenders consent thereto.  The Borrowers shall pay in full all
principal, accrued interest, accrued fees and other amounts owing to such
Lender through the date of replacement (including any amounts payable pursuant
to Section 3.05); and the Company shall (x) provide appropriate
assurances and indemnities (which may include letters of credit) to the Swing
Line Lender as the Swing Line Lender may reasonably require with respect to any
continuing obligation to fund participation interests in any Swing Line Loans
then outstanding, and (y) release such Lender from its obligations under the
Loan Documents.  Any Lender being
replaced shall execute and deliver an Assignment and Assumption with respect to
such Lender’s Commitment and outstanding Loans and participations in Swing Line
Loans.

 

11.17                 Governing Law.

 

(a)                                  THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE
AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE; PROVIDED THAT THE
ADMINISTRATIVE AGENT AND EACH LENDER SHALL RETAIN ALL RIGHTS ARISING UNDER
FEDERAL LAW.

 

(b)                                 ANY
LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER LOAN
DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW
YORK CITY OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE, AND
BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH OF THE BORROWERS, THE
ADMINISTRATIVE AGENT AND LENDERS CONSENTS, FOR ITSELF AND IN RESPECT OF ITS
PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS.  EACH BORROWER, THE ADMINISTRATIVE AGENT AND
EACH LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE
LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR
HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION
IN RESPECT OF ANY LOAN DOCUMENT OR OTHER DOCUMENT RELATED THERETO.  EACH BORROWER, THE ADMINISTRATIVE AGENT AND
EACH LENDER WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS,
WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED BY THE LAW OF SUCH STATE.

 

11.18                 Waiver of Right to Trial by Jury.  EACH PARTY TO THIS AGREEMENT HEREBY
EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR
CAUSE OF ACTION ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH
RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE
WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR
TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH
CLAIM, DEMAND, ACTION OR CAUSE OF ACTION

 

81

 

SHALL BE DECIDED BY COURT TRIAL
WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL
COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE
CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY
JURY.

 

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

 

[Signature pages follow.]

 

82

 

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

 

 

	
   

  	
  DANAHER CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Frank T. McFaden

  	
   

  
	
   

  	
  Name:

  	
  Frank T. McFaden

  
	
   

  	
  Title:

  	
  Vice President & Treasurer

  
					

 

S - 1

 

	
   

  	
  BANK OF AMERICA, N.A.,

  as Administrative Agent

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John W. Pocalyko

  	
   

  
	
   

  	
  Name:

  	
  John W. Pocalyko

  
	
   

  	
  Title:

  	
  Managing Director

  
					

 

S - 2

 

	
   

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

  Swing Line Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John W. Pocalyko

  	
   

  
	
   

  	
  Name:

  	
  John W. Pocalyko

  
	
   

  	
  Title:

  	
  Managing Director

  
					

 

S - 3

 

	
   

  	
  THE BANK OF NEW YORK, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven P. Cavaluzzo

  	
   

  
	
   

  	
  Name:

  	
  Steven P. Cavaluzzo

  
	
   

  	
  Title:

  	
  Vice President

  
					

 

S - 4

 

	
   

  	
  THE BANK OF NOVA SCOTIA, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Todd S. Meller

  	
   

  
	
   

  	
  Name:

  	
  Todd S. Meller

  
	
   

  	
  Title:

  	
  Managing Director

  
					

 

S - 5

 

	
   

  	
  BANK OF TOKYO-MITSUBISHI TRUST

  COMPANY, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ A. Bernstein

  	
   

  
	
   

  	
  Name:

  	
  A. Bernstein

  
	
   

  	
  Title:

  	
  Assistant Vice President

  
					

 

S - 6

 

	
   

  	
  BANK ONE, N.A., as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James w. Peterson

  	
   

  
	
   

  	
  Name:

  	
  James w. Peterson

  
	
   

  	
  Title:

  	
  Director

  
					

 

S - 7

 

	
   

  	
  BARCLAYS BANK PLC, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Nicholas Bell

  	
   

  
	
   

  	
  Name:

  	
  Nicholas Bell

  
	
   

  	
  Title:

  	
  Director

  
					

 

S - 8

 

	
   

  	
  CITIBANK, N.A., as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stuart G. Miller

  	
   

  
	
   

  	
  Name:

  	
  Stuart G. Miller

  
	
   

  	
  Title:

  	
  Vice President

  
					

 

S - 9

 

	
   

  	
  DEUTSCHE BANK AG NEW YORK

  BRANCH, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dr. Michael Dietz

  	
   

  
	
   

  	
  Name:

  	
  Dr. Michael Dietz

  
	
   

  	
  Title:

  	
  Director

  
					

 

 

	
   

  	
  By:

  	
  /s/ Oliver Schwarz

  	
   

  
	
   

  	
  Name:

  	
  Oliver Schwarz

  
	
   

  	
  Title:

  	
  Vice President

  
					

 

S - 10

 

	
   

  	
  HSBC BANK USA, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Sarah McClintock

  	
   

  
	
   

  	
  Name:

  	
  Sarah McClintock

  
	
   

  	
  Title:

  	
  First Vice President

  
					

 

S - 11

 

	
   

  	
  JPMORGAN CHASE BANK, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Randolph Cates

  	
   

  
	
   

  	
  Name:

  	
  Randolph Cates

  
	
   

  	
  Title:

  	
  Vice President

  
					

 

S - 12

 

	
   

  	
  LEHMAN BROTHERS BANK, FSB,

  as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Gary T. Taylor

  	
   

  
	
   

  	
  Name:

  	
  Gary T. Taylor

  
	
   

  	
  Title:

  	
  Vice President

  
					

 

S - 13

 

	
   

  	
  MERRILL LYNCH BANK USA, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Louis Alder

  	
   

  
	
   

  	
  Name:

  	
  Louis Alder

  
	
   

  	
  Title:

  	
  Vice President

  
					

 

S - 14

 

	
   

  	
  MORGAN STANLEY BANK, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jaap L. Tonckens

  	
   

  
	
   

  	
  Name:

  	
  Jaap L. Tonckens

  
	
   

  	
  Title:

  	
  Vice President

  
					

 

S - 15

 

	
   

  	
  THE NORTHERN TRUST COMPANY,

  as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Christopher McKean

  	
   

  
	
   

  	
  Name:

  	
  Christopher McKean

  
	
   

  	
  Title:

  	
  Second Vice President

  
					

 

S - 16

 

	
   

  	
  SANPAOLO IMI S.p.A., as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert Wurster

  	
   

  
	
   

  	
  Name:

  	
  Robert Wurster

  
	
   

  	
  Title:

  	
  Senior Vice President

  
					

 

 

	
   

  	
  By:

  	
  /s/ Luca Sacchi

  	
   

  
	
   

  	
  Name:

  	
  Luca Sacchi

  
	
   

  	
  Title:

  	
  Vice President

  
					

 

S - 17

 

	
   

  	
  SUMITOMO MITSUI BANKING CORP.,

  NEW YORK, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Peter R.C. Knight

  	
   

  
	
   

  	
  Name:

  	
  Peter R.C. Knight

  
	
   

  	
  Title:

  	
  Joint General Manager

  
					

 

S - 18

 

	
   

  	
  SUNTRUST BANK, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael Pugsley

  	
   

  
	
   

  	
  Name:

  	
  Michael Pugsley

  
	
   

  	
  Title:

  	
  Director

  
					

 

S - 19

 

	
   

  	
  UBS AG, CAYMAN ISLANDS BRANCH,

  as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Patricia O’Kicki

  	
   

  
	
   

  	
  Name:

  	
  Patricia O’Kicki

  
	
   

  	
  Title:

  	
  Director

  
					

 

 

	
   

  	
  By:

  	
  /s/ Wilfred V. Saint

  	
   

  
	
   

  	
  Name:

  	
  Wilfred V. Saint

  
	
   

  	
  Title:

  	
  Associate Director

  
					

 

S - 20

 

	
   

  	
  WACHOVIA BANK, NATIONAL

  ASSOCIATION, as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Bruce T. Vestal

  	
   

  
	
   

  	
  Name:

  	
  Bruce T. Vestal

  
	
   

  	
  Title:

  	
  Associate

  
					

 

S - 21

 

	
   

  	
  WELLS FARGO BANK, N.A.,
  as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Lori Ross

  	
   

  
	
   

  	
  Name:

  	
  Lori Ross

  
	
   

  	
  Title:

  	
  Vice President

  
					

 

S - 22Exhibit 10.2

DANAHER CORPORATION

 

AMENDMENT NO. 2 TO THE

1998 STOCK OPTION PLAN

 

WHEREAS, the Danaher
Corporation 1998 Stock Option Plan (the “Plan”) was made effective as of May 5,
1998 and was amended as of May 1, 2001; and

 

WHEREAS, the Plan provides
that the Board may amend the Plan at any time, without the consent of the
optionees or their beneficiaries, provided that such amendment does not deprive
any optionee or beneficiary of any previously declared option; and

 

WHEREAS, the Board of
Directors of Danaher Corporation on July 23, 2003 approved an amendment to the
Plan pursuant to the foregoing provision.

 

NOW THEREFORE, this
Amendment is hereby adopted to evidence the amendment to the Plan approved by
the Board of Directors.

 

1.             The following sentence is inserted immediately prior to
the last paragraph in the section of the Plan titled “Adjustments Upon Changes
in Capital Stock”:

 

In the event of a
declaration of an extraordinary dividend on the Common Stock payable in a form
other than Common Stock in an amount that has a material effect on the price of
the Common Stock, the Administrator shall make such adjustments as it, in its
sole discretion, deems appropriate in the outstanding Options and the maximum
number of shares provided in the Stock Subject to Plan section.

 

2.             All other provisions of the Plan shall not be affected
hereby and shall remain in full force and effect.

 

 

	
   

  	
  DANAHER CORPORATION

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ James H. Ditkoff

  	
   

  
	
   

  	
  Name:

  	
  James H. Ditkoff

  	
   

  
	
   

  	
  Title:

  	
  Senior Vice President 

  	
   

  
	
   

  	
   

  	
  — Finance and Tax

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]