Document:

exv10w3

Exhibit 10.3

 

LOAN AND SECURITY AGREEMENT

dated as of

June 30, 2011

among

TEMPUS ACQUISITION, LLC

The Lenders Party Hereto

GUGGENHEIM CORPORATE FUNDING, LLC,

as Administrative Agent

 

 

 

Table of Contents

(continued)

	 	 	 	 	 

	ARTICLE I Definitions
	 	 	1	 
	 
	 	 	 	 
	SECTION 1.01. Defined Terms
	 	 	1	 
	SECTION 1.02. Classification of Loans and Borrowings
	 	 	15	 
	SECTION 1.03. Terms Generally
	 	 	15	 
	SECTION 1.04. Accounting Terms; GAAP
	 	 	16	 
	SECTION 1.05. Status of Obligations
	 	 	16	 
	 
	 	 	 	 
	ARTICLE II The Credits
	 	 	17	 
	 
	 	 	 	 
	SECTION 2.01. Commitments
	 	 	17	 
	SECTION 2.02. Loans and Borrowings
	 	 	17	 
	SECTION 2.03. Requests for Borrowings
	 	 	17	 
	SECTION 2.04. Funding of Borrowings
	 	 	18	 
	SECTION 2.05. Termination and Reduction of Commitments
	 	 	18	 
	SECTION 2.06. Repayment of Loans; Evidence of Debt
	 	 	18	 
	SECTION 2.07. Prepayment of Loans
	 	 	19	 
	SECTION 2.08. Fees
	 	 	19	 
	SECTION 2.09. Interest
	 	 	20	 
	SECTION 2.10. Increased Costs
	 	 	20	 
	SECTION 2.11. Taxes
	 	 	21	 
	SECTION 2.12. Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	 	 	24	 
	SECTION 2.13. Mitigation Obligations
	 	 	24	 
	SECTION 2.14. Defaulting Lenders
	 	 	25	 
	SECTION 2.15. Grant of Security Interest; Collateral
	 	 	25	 
	 
	 	 	 	 
	ARTICLE III Representations and Warranties
	 	 	25	 
	 
	 	 	 	 
	SECTION 3.01. Existence, Qualification and Power; Compliance with Laws
	 	 	25	 
	SECTION 3.02. Binding Effect
	 	 	26	 
	SECTION 3.03. Authorization; No Contravention
	 	 	26	 
	SECTION 3.04. Governmental Authorization; Other Consents
	 	 	26	 
	SECTION 3.05. Taxes
	 	 	26	 
	SECTION 3.06. No Default
	 	 	26	 
	SECTION 3.07. Financial Statements; No Material Adverse Effect
	 	 	26	 
	SECTION 3.08. Security Interest
	 	 	27	 
	SECTION 3.09. Ownership of Assets
	 	 	27	 
	SECTION 3.10. No Other Business
	 	 	27	 
	SECTION 3.11. Insurance
	 	 	27	 
	SECTION 3.12. Disclosure
	 	 	27	 
	SECTION 3.13. Subsidiaries; Equity Interests
	 	 	28	 
	SECTION 3.14. No Dividend Restrictions
	 	 	28	 
	SECTION 3.15. Litigation
	 	 	28	 
	SECTION 3.16. Solvency
	 	 	28	 
	SECTION 3.17. Margin Regulations; Investment Company Act; USA PATRIOT Act
	 	 	28	 
	SECTION 3.18. ERISA Compliance
	 	 	29	 
	SECTION 3.19. Environmental Compliance
	 	 	29	 

ii

 

Table of Contents

(continued)

	 	 	 	 	 

	ARTICLE IV Conditions
	 	 	29	 
	 
	 	 	 	 
	SECTION 4.01. Effective Date
	 	 	29	 
	SECTION 4.02. Each Borrowing
	 	 	31	 
	 
	 	 	 	 
	ARTICLE V Affirmative Covenants
	 	 	31	 
	 
	 	 	 	 
	SECTION 5.01. Financial Statements
	 	 	31	 
	SECTION 5.02. Compliance Certificate
	 	 	33	 
	SECTION 5.03. Notices
	 	 	33	 
	SECTION 5.04. Compliance with Laws
	 	 	33	 
	SECTION 5.05. Preservation of Existence, Etc.
	 	 	33	 
	SECTION 5.06. Compliance with Environmental Laws
	 	 	34	 
	SECTION 5.07. Maintenance of Properties; Ownership of Subsidiaries
	 	 	34	 
	SECTION 5.08. Maintenance of Insurance
	 	 	34	 
	SECTION 5.09. Use of Proceeds
	 	 	34	 
	SECTION 5.10. Payment of Obligations
	 	 	35	 
	SECTION 5.11. Cooperation
	 	 	35	 
	SECTION 5.12. Books and Records
	 	 	35	 
	SECTION 5.13. Loan Documents; Material Documents
	 	 	35	 
	SECTION 5.14. Inspection Rights
	 	 	35	 
	SECTION 5.15. Reports Accurate
	 	 	36	 
	 
	 	 	 	 
	ARTICLE VI Negative Covenants
	 	 	36	 
	 
	 	 	 	 
	SECTION 6.01. Liens
	 	 	36	 
	SECTION 6.02. Dispositions
	 	 	37	 
	SECTION 6.03. Restricted Payments
	 	 	37	 
	SECTION 6.04. Investments
	 	 	38	 
	SECTION 6.05. Fundamental Changes
	 	 	38	 
	SECTION 6.06. Nature of Business
	 	 	38	 
	SECTION 6.07. Transactions with Affiliates
	 	 	39	 
	SECTION 6.08. Accounting Changes
	 	 	39	 
	SECTION 6.09. Restrictive Agreements
	 	 	39	 
	SECTION 6.10. Abandonment
	 	 	39	 
	SECTION 6.11. Preservation of Rights
	 	 	39	 
	SECTION 6.12. Deviation from Business Plan
	 	 	39	 
	 
	 	 	 	 
	ARTICLE VII Events of Default
	 	 	39	 
	 
	 	 	 	 
	ARTICLE VIII The Administrative Agent
	 	 	43	 
	 
	 	 	 	 
	ARTICLE IX Miscellaneous 
	 	 	45	 
	 
	 	 	 	 
	SECTION 9.01. Notices
	 	 	45	 
	SECTION 9.02. Waivers; Amendments
	 	 	46	 

iii

 

	 	 	 	 	 

	SECTION 9.03. Expenses; Indemnity; Damage Waiver
	 	 	47	 
	SECTION 9.04. Successors and Assigns
	 	 	48	 
	SECTION 9.05. Survival
	 	 	50	 
	SECTION 9.06. Counterparts; Integration; Effectiveness
	 	 	50	 
	SECTION 9.07. Severability
	 	 	50	 
	SECTION 9.08. Right of Setoff
	 	 	50	 
	SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process
	 	 	50	 
	SECTION 9.10. WAIVER OF JURY TRIAL
	 	 	51	 
	SECTION 9.11. Headings
	 	 	51	 
	SECTION 9.12. Confidentiality
	 	 	51	 
	SECTION 9.13. Intentionally Omitted
	 	 	52	 
	SECTION 9.14. USA PATRIOT Act
	 	 	52	 
	SECTION 9.15. Interest Rate Limitation
	 	 	52	 
	SECTION 9.16. No Advisory or Fiduciary Responsibility
	 	 	52	 

SCHEDULES:

Schedule 2.01—Lenders; Commitment

Schedule 3.13 — Subsidiaries; Equity Interests

Schedule 3.14 — Dividend Restrictions

Schedule 6.01 — Liens

Schedule 6.02 — Dispositions

Schedule 6.04 — Investments

Schedule 6.09 — Restrictive Agreements

EXHIBITS:

Exhibit A — Form of Assignment and Assumption

Exhibit B-1 — Form of Revolving Loan Note

Exhibit B-2 — Form of Term Loan Note

Exhibit C-1 — Form of U.S. Tax Certificate (Non-U.S. Lenders That Are Not Partnerships)

Exhibit C-2 — Form of U.S. Tax Certificate (Non-U.S. Lenders That Are Partnerships)

Exhibit C-3 — Form of U.S. Tax Certificate (Non-U.S. Participants That Are Not Partnerships)

Exhibit C-4 — Form of U.S. Tax Certificate (Non-U.S. Participants That Are Partnerships)

Exhibit D — List of Closing Documents

Exhibit E — Material Contracts

Exhibit F — Statement of Cash Flows

 

 

          LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of June 30, 2011 among TEMPUS
ACQUISITION, LLC, the LENDERS from time to time party hereto, GUGGENHEIM CORPORATE FUNDING, LLC, as
Administrative Agent.

          The parties hereto agree as follows:

ARTICLE I

Definitions

          SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the
meanings specified below:

          “Administration Fee” means a fee of $40,000 per annum, payable quarterly in arrears.

          “Administrative Agent” means Guggenheim Corporate Funding, LLC, in its capacity as
administrative agent for the Lenders hereunder.

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

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

          “Annual Projections” has the meaning assigned to such term in Section 5.01(e).

          “Applicable Percentage” means, with respect to any Lender, (a) with respect to
Revolving Loans, the percentage equal to a fraction the numerator of which is such Lender’s
Revolving Commitment and the denominator of which is the aggregate Revolving Commitments of all
Revolving Lenders (or, if the Revolving Commitments have terminated or expired, the Applicable
Percentages shall be determined based upon the Revolving Commitments most recently in effect,
giving effect to any assignments); provided that in the case of Section 2.14 when a
Defaulting Lender shall exist, any such Defaulting Lender’s Revolving Commitment shall be
disregarded in the calculation, (b) with respect to the Tranche A Term Loans, a percentage equal to
a fraction the numerator of which is such Lender’s outstanding principal amount of the Tranche A
Term Loans and the denominator of which is the aggregate outstanding amount of the Tranche A Term
Loans of all Tranche A Term Lenders; provided that in the case of Section 2.14 when
a Defaulting Lender shall exist, any such Defaulting Lender’s Tranche A Term Loan Commitment shall
be disregarded in the calculation and (c) with respect to the Tranche B Term Loans, a percentage
equal to a fraction the numerator of which is such Lender’s outstanding principal amount of the
Tranche B Term Loans and the denominator of which is the aggregate outstanding amount of the
Tranche B Term Loans of all Tranche B Term Lenders; provided that in the case of
Section 2.14 when a Defaulting Lender shall exist, any such Defaulting Lender’s Tranche B
Term Loan Commitment shall be disregarded in the calculation.

          “Applicable Rate” means 18%, of which (i) an amount equal to not less than 10% per
annum shall be payable in cash at the time specified herein and (ii) the remaining accrued amount
may be paid in cash or accrued and added to the principal amount of the applicable Loan.

 

 

          “Approved Fund” means any Person (other than a natural person) that is engaged in
making, purchasing, holding or investing in bank loans and similar extensions of credit in the
ordinary course of its business and that is administered or managed by (a) a Lender, (b) an
Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a
Lender.

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

          “Authorized Officer” means the chief executive officer, president, any Financial
Officer or assistant treasurer or other similar officer of the Borrower.

          “Available Revolving Commitment” means, at any time with respect to any Lender, the
Commitment of such Lender then in effect minus the Revolving Credit Exposure of such Lender
at such time.

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

          “Bankruptcy Event” means, with respect to any Person, such Person becomes the subject
of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee,
administrator, custodian, assignee for the benefit of creditors or similar Person charged with the
reorganization or liquidation of its business appointed for it, or, in the good faith determination
of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to,
approval of, or acquiescence in, any such proceeding or appointment.

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

          “Borrower” means Tempus Acquisition, LLC, a Delaware limited liability company.

          “Borrowing” means (a) Revolving Loans made, converted or continued on the same date or
(b) a Term Loan made on the Effective Date.

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

          “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City and Las Vegas, Nevada are authorized or required by law to remain
closed.

          “Business Plan” has the meaning assigned to such term in Section 5.01(d).

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

2

 

          “Change in Control” means the occurrence of any of the following events:

          (i) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934 (the “Exchange Act”) and the rules of the SEC thereunder, or any
successor provisions of either of the foregoing), becomes the “beneficial owners” (as used in Rules
13d-3 and 13d-5 under the Exchange Act, except that a person or group will be deemed to have
“beneficial ownership” of all shares that any such person or group has the right to acquire,
whether such right is exercisable immediately or only after the passage of time), directly or
indirectly, of a majority of the total voting power of the Voting Stock of the Borrower, whether as
a result of the issuance of securities of the Borrower, any merger, consolidation, liquidation or
dissolution of the Borrower or otherwise;

          (ii) the Disposition, directly or indirectly, of all or substantially all the assets of the
Borrower and its Subsidiaries, considered as a whole (other than a Disposition of such assets as an
entirety or virtually as an entirety to a wholly-owned Subsidiary) to any Person shall have
occurred, or the Borrower merges, consolidates or amalgamates with or into any other person or any
other Person merges, consolidates or amalgamates with or into the Borrower, in any such event
pursuant to a transaction in which the outstanding Voting Stock of the Borrower is reclassified
into or exchanged for cash, securities or other property, other than any such transaction where (a)
the outstanding Voting Stock of the Borrower is reclassified into or exchanged for other Voting
Stock of the Borrower or for Voting Stock of the surviving corporation and (b) the holders of the
Voting Stock of the Borrower immediately prior to such transaction own, directly or indirectly, a
majority of the Voting Stock of the Borrower or the surviving corporation immediately after such
transaction;

          (iii) the director or directors members of the Board of Directors of the Borrower are
terminated and not replaced by a director or directors reasonably acceptable to the Administrative
Agent within 30 days; or

          (iv) the Borrower’s shareholders shall have approved any plan of liquidation or dissolution of
the Borrower.

          “Change in Law” means (a) the adoption of any law, rule, regulation or treaty after
the date of this Agreement, (b) any change in any law, rule, regulation or treaty or in the
interpretation or application thereof by any Governmental Authority after the date of this
Agreement or (c) compliance by any Lender (or, for purposes of Section 2.10(b), by any
lending office of such Lender or by such Lender’s holding company, if any) with any request,
guideline or directive (whether or not having the force of law) of any Governmental Authority made
or issued after the date of this Agreement; provided however, that notwithstanding
anything herein to the contrary, the Dodd-Frank Wall Street Reform and Consumer Protection Act and
all requests, rules, guidelines or directives thereunder or issued in connection therewith shall be
deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued.

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

          “Code” means the Internal Revenue Code of 1986.

          “Collateral” has the meaning set forth in Section 2.15(a).

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

3

 

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

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

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

          “Credit Party” means the Administrative Agent or any other Lender.

          “Current Quarter” has the meaning assigned to such term in Section 5.01(d).

          “Current Year” has the meaning assigned to such term in Section 5.01(e).

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

          “Defaulting Lender” means any Lender that (a) has failed, within two (2) Business Days
of the date required to be funded or paid, to (i) fund any portion of its Loans or (ii) pay over
to any Credit Party any other amount required to be paid by it hereunder, unless, in the case of
clause (i) above, such Lender notifies the Administrative Agent in writing that such
failure is the result of such Lender’s good faith determination that a condition precedent to
funding (specifically identified and including the particular default, if any) has not been
satisfied, (b) has notified the Borrower or any Credit Party in writing, or has made a public
statement to the effect, that it does not intend or expect to comply with any of its funding
obligations under this Agreement (unless such writing or public statement indicates that such
position is based on such Lender’s good faith determination that a condition precedent
(specifically identified and including the particular default, if any) to funding a loan under this
Agreement cannot be satisfied) or generally under other agreements in which it commits to extend
credit, (c) has failed, within three (3) Business Days after request by a Credit Party, acting in
good faith, to provide a certification in writing from an authorized officer of such Lender that it
will comply with its obligations (and is financially able to meet such obligations) to fund
prospective Loans under this Agreement, provided that such Lender shall cease to be a
Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt of such
certification in form and substance satisfactory to it and the Administrative Agent, or (d) has
become the subject of a Bankruptcy Event.

          “Disposition” or “Dispose” means the sale, assignment, transfer or other
disposition (including any Sale and Leaseback Transaction and any termination of business lines) of
any property by the Borrower or any of its Subsidiaries to 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, or any sale, assignment or transfer of
Equity Interests by such Person.

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

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

4

 

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

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

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

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

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

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

          “ERISA Event” means (a) any reportable event, as defined in Section 4043 of ERISA, or
the regulations issued thereunder, with respect to a Plan, that the Administrative Agent determines
in good faith constitutes (i) grounds for the termination of any Plan by the PBGC or the
appointment of a trustee to administer or liquidate any Plan, or (ii) a failure to make required
minimum contributions (other than an event for which the 30-day notice period is waived) shall have
occurred and be continuing; (b) the existence with respect to any Plan of an “unpaid minimum
required contribution” which means, with respect to any plan year, any minimum required
contribution under Section 430 of the Code for the plan year which is not paid on or before the due
date (as determined under section 430(j)(1) of the Code) for the plan year; (c) the filing pursuant
to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the
minimum funding standard with respect to any Plan; (d) the incurrence by the Borrower or any of its
ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any
Plan; (e) the receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan administrator
of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to
administer any Plan; (f) the incurrence by the Borrower or any of its ERISA Affiliates of any
liability with respect to the withdrawal or partial withdrawal of the Borrower or any of its ERISA
Affiliates from any Plan or Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA
Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or any ERISA
Affiliate of any notice, concerning the imposition upon the Borrower or any of its ERISA Affiliates
of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be,
insolvent or in reorganization, within the meaning of Title IV of ERISA.

5

 

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

          “Excess Cash Flow” means, with respect to the Borrower as of the end of any fiscal
quarter, the amount of the Borrower’s gross income for such fiscal quarter over the
Permitted Expenses of the Borrower for such fiscal quarter.

          “Excluded Taxes” means, with respect to any payment made by the Borrower under any
Loan Document, any of the following Taxes imposed on or with respect to a Recipient:

          (a) income or franchise Taxes imposed on (or measured by) net income by the United States of
America, or by the jurisdiction under the laws of which such Recipient is organized or in which its
principal office is located or, in the case of any Lender, in which its applicable lending office
is located,

          (b) any branch profits Taxes imposed by the United States of America or any similar Taxes
imposed by any other jurisdiction in which the Borrower is located, and

          (c) in the case of a Non U.S. Lender (other than an assignee pursuant to a request by the
Borrower under Section 2.13(b)), any U.S. Federal withholding Taxes resulting from any law
in effect (including FATCA) on the date such Non U.S. Lender becomes a party to this Agreement (or
designates a new lending office) or is attributable to such Non U.S. Lender’s failure to comply
with Section 2.11(f), except to the extent that such Non U.S. Lender (or its assignor, if
any) was entitled, at the time of designation of a new lending office (or assignment), to receive
additional amounts from the Borrower with respect to such withholding Taxes pursuant to Section
2.11(a).

          “Exit Fee” means (a) with respect to the Tranche A Term Loans, a fee equal to the
product of (i) the applicable Exit Fee Percentage and (ii) the initial amount of the Tranche A Term
Loans and (b) with respect to the Tranche B Term Loans, a fee equal to the product of (i) the
applicable Exit Fee Percentage and (ii) the initial amount of the Tranche B Term Loans.

          “Exit Fee Percentage” means, with respect to the final payment in full of principal
made in connection with the Tranche A Term Loans or Tranche B Term Loans, as applicable, a
percentage determined in accordance with the following table based on when such final payment in
full of such Tranche A Term Loans or Tranche B Term Loans are made:

	 	 	 	 	 
	If such payment in full occurs prior	 	 
	to the indicated anniversary of the	 	 
	Closing Date:	 	Exit Fee Percentage
	 	 	 
	First

	 	 	2.5	%
	Second

	 	 	5.0	%
	Third

	 	 	7.5	%
	Fourth or thereafter

	 	 	10.0	%

          “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this
Agreement, and any regulations or official interpretations thereof.

6

 

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

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

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

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

          “Guarantee” of or by any Person (the “guarantor”) means any obligation,
contingent or otherwise, of the guarantor guaranteeing or having the economic effect of
guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase
or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds
for the purchase of) any security for the payment thereof, (b) to purchase or lease property,
securities or services for the purpose of assuring the owner of such Indebtedness or other
obligation of the payment thereof, (c) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any
letter of credit or letter of guaranty issued to support such Indebtedness or obligation;
provided, that the term Guarantee shall not include (a) endorsements for collection or
deposit in the ordinary course of business.

          “Hazardous Materials” means all explosive or radioactive substances or wastes and all
hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas,
infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to
any Environmental Law.

          “Indebtedness” of any Person means, without duplication, (a) all obligations of such
Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations
of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of
such Person upon which interest charges are customarily paid, (d) all obligations of such Person
under conditional sale or other title retention agreements relating to property acquired by such
Person, (e) all obligations of such Person in respect of the deferred purchase price of property or
services (excluding current accounts payable incurred in the ordinary course of business), (f) all
Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing
right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such
Person, whether or not the Indebtedness secured thereby has been assumed, (g) all Guarantees by
such Person of Indebtedness of others, (h) all Capital Lease Obligations of such Person, (i) all
obligations of such Person as an account party in respect of letters of credit and letters of
guaranty only to the extent any draws under such letters of credit or letters of guaranty shall not
have been reimbursed, (j) all obligations, contingent or otherwise, of such Person in respect of
bankers’ acceptances and (k) all obligations of such Person under Sale and Leaseback

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Transactions. The Indebtedness of any Person shall include the Indebtedness of any other
entity (including any partnership in which such Person is a general partner) to the extent such
Person is liable therefor as a result of such Person’s ownership interest in or other relationship
with such entity, except to the extent the terms of such Indebtedness provide that such Person is
not liable therefor.

          “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with
respect to any payment made by the Borrower under any Loan Document and (b) Other Taxes.

          “Intercompany Loans” means loans, advances or other extensions of credit by the
Borrower or any Subsidiary of the Borrower, to the Borrower or any Subsidiary of the Borrower.

          “Interest Payment Date” means the last Business Day of each fiscal quarter and the
Revolving Maturity Date.

          “Investment” means, as to any Person, any direct or indirect acquisition or investment
by such Person, whether by means of (a) the purchase or other acquisition of Equity Interests or
debt or other securities of another Person, (b) a loan, advance or capital contribution to,
Guarantee or assumption of Indebtedness of, or purchase or other acquisition of any other debt or
Equity Interest in, another Person, including any partnership or joint venture interest in such
other Person or (c) the purchase or other acquisition (in one transaction or a series of
transactions) of all or substantially all of the property and assets or business of another Person
or assets constituting a business unit, line of business or division of such Person. For purposes
of covenant compliance, the amount of any Investment shall be the amount actually invested, without
adjustment for subsequent increases or decreases in the value of such Investment.

          “IRS” means the United States Internal Revenue Service.

          “Lenders” means the Persons listed on Schedule 2.01 and any other Person that
shall have become a Lender hereunder pursuant to an Assignment and Assumption, other than any such
Person that ceases to be a party hereto pursuant to an Assignment and Assumption.

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

          “Loan Documents” means this Agreement, any promissory notes issued pursuant to
Section 2.06(e) of this Agreement, the Tempus Guaranty, each Pledge Agreement and all other
agreements, instruments, documents and certificates identified in Section 4.01 executed and
delivered to, or in favor of, the Administrative Agent or any Lenders and including all other
pledges, powers of attorney, consents, assignments, contracts, notices, letter of credit agreements
and all other written matter whether heretofore, now or hereafter executed by or on behalf of the
Borrower, or any employee of the Borrower, and delivered to the Administrative Agent or any Lender
in connection with this Agreement or the transactions contemplated hereby. Any reference in this
Agreement or any other Loan Document to a Loan Document shall include all appendices, exhibits or
schedules thereto, and all amendments, restatements, supplements or other modifications thereto,
and shall refer to this Agreement or such Loan Document as the same may be in effect at any and all
times such reference becomes operative.

8

 

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

          “Material Adverse Effect” means a material adverse effect on (a) the business, assets,
operations, condition (financial or otherwise) of the Borrower and the Subsidiaries taken as a
whole, (b) the validity or enforceability of this Agreement or any and all other Loan Documents or
the rights or remedies of the Administrative Agent and the Lenders thereunder, (c) the ability of
the Borrower to perform any of its obligations under this Agreement or any Loan Document, or (d)
the rights or remedies of the Administrative Agent and the Lenders under this Agreement or any Loan
Document.

          “Material Communications” means, with respect to any Contractual Obligation, any
communication by the Borrower or any of its Subsidiaries with any Governmental Authority or any
party to such Contractual Obligation regarding an event or circumstance that could reasonably be
expected to result in a Material Adverse Effect.

          “Material Contract” means the contracts set forth on Exhibit E.

          “Material Indebtedness” means Indebtedness (other than the Loans) of the Borrower and
its Subsidiaries, in an aggregate principal amount exceeding $250,000, including, without
limitation the Indebtedness incurred under the RFA Facility and the Textron Facility.

          “Material Notices” means, with respect to (a) any material Contractual Obligation, any
notice sent or received by the Borrower or any of its Subsidiaries regarding a material event or
circumstance, including the occurrence of any default under such Contractual Obligation or
termination of such Contractual Obligation and (b) with respect to any Contractual Obligation, any
other development that could reasonably be expected to result in a Material Adverse Effect.

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

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

          “Net Participation Proceeds” means, with respect to any event, the cash proceeds
received in respect of the RFA Participation, including any cash received in respect of any
non-cash proceeds or collateral deficiency payments.

          “Non-U.S. Lender” means a Lender that is not a U.S. Person.

          “Obligations” means all unpaid principal of and accrued and unpaid interest on the
Loans, all accrued and unpaid fees and all expenses, reimbursements, indemnities and other
obligations and indebtedness (including interest and fees accruing during the pendency of any
bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or
allowable in such proceeding), obligations and liabilities of the Borrower to any of the Lenders,
the Administrative Agent or any indemnified party, individually or collectively, existing on the
Effective Date or arising thereafter, direct or indirect, joint or several, absolute or contingent,
matured or unmatured, liquidated or unliquidated, secured or unsecured, arising by contract,
operation of law or otherwise, arising or incurred under this Agreement or any of the other Loan
Documents or in respect of any of the Loans made or reimbursement or other obligations incurred or
other instruments at any time evidencing any thereof.

          “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a
result of a present or former connection between such Recipient and the jurisdiction imposing such
Taxes

9

 

(other than a connection arising from such Recipient having executed, delivered, enforced,
become a party to, performed its obligations under, received payments under, received or perfected
a security interest under, or engaged in any other transaction pursuant to, any Loan Document, or
sold or assigned an interest in any Loan Document).

          “Other Taxes” means any present or future stamp, court, documentary, intangible,
recording, filing or similar excise or property Taxes that arise from any payment made under, from
the execution, delivery, performance, enforcement or registration of, or from the registration,
receipt or perfection of a security interest under, or otherwise with respect to, any Loan
Document, except any such Taxes that are Other Connection Taxes imposed with respect to an
assignment (other than an assignment under Section 2.13(b)).

          “Parent” means, with respect to any Lender, any Person as to which such Lender is,
directly or indirectly, a subsidiary.

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

          “Participant Register” has the meaning assigned to such term in Section
9.04(c).

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

          “Permitted Expenses” means, for any period, (i) the costs and expenses of the Borrower
which are set forth in the Business Plan and related consolidated detailed budget or, from and
after the date of the initial delivery of Annual Projections hereunder, in the most recent Annual
Projections submitted to the Administrative Agent pursuant to Section 5.01(e) and approved
by the Administrative Agent in its reasonable discretion and (ii) any other costs and expenses
incurred by the Borrower which are approved by the Administrative Agent from time to time in
writing (which writing may be in an e-mail). Permitted Expenses may include, but not be limited
to, (a) amounts due to affiliates of the Borrower pursuant to the Transfer Pricing Agreement
(including sub-management and servicing fees, rental leasing fees, general; and administrative
allocations, etc.), (b) cost of timeshare sales, (c) general and administrative costs, (d)
inventory carry costs (i.e., maintenance fee expense), (e) inventory recovery costs pursuant to the
RFA Facility and the Textron Facility, (f) debt service to RFA and Textron (principal and interest,
including minimum amortization payments), (g) income taxes, (h) capital expenditures, (i) working
capital requirements (such as utility deposits, prepaid assets, i.e., Disney tickets, prepaid
insurance, etc. (j) depreciation charges and amortization of any portfolio premium or discount, and
(k) opening balance accrued liabilities.

          “Permitted Investments” means:

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

     (b) investments in commercial paper maturing within 270 days from the date of
acquisition thereof and having, at such date of acquisition, a minimum credit rating of
A-2/P-2 or A-/A3 obtainable from S&P or from Moody’s, respectively;

     (c) investments in certificates of deposit, banker’s acceptances and time deposits
maturing within 180 days from the date of acquisition thereof issued or guaranteed by or
placed

10

 

with, and money market deposit accounts issued or offered by, any domestic office of
any commercial bank organized under the laws of the United States of America or any State
thereof which has a combined capital and surplus and undivided profits of not less than
$500,000,000;

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

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

          “Permitted Securitization” Any of the following:

          (a) any secured lending facility approved by the Administrative Agent, in its reasonable
discretion, entered into by a Securitization Entity after the Closing Date solely for the purpose
of purchasing or financing assets of the Borrower and/or its Subsidiaries, provided that (i) any
Indebtedness incurred in connection with such facility is non-recourse to the Borrower, its
Subsidiaries (other than such Securitization Entity) and their respective assets, (ii) such
Securitization Entity engages in no business and incurs no Indebtedness or other liabilities or
obligations other than those related to or incidental to such facility, (iii) other than the
initial Investment in such facility, neither the Borrower nor any of its Subsidiaries (other than
such Securitization Entity) is required to make additional Investments in connection with such
facility, (iv) neither the Borrower nor any of its Subsidiaries (other than such Securitization
Entity) has any obligation to maintain such Securitization Entity’s financial condition or cause
such Securitization Entity to achieve certain levels of operating results; or

          (b) any other lending facility or other financing approved by the Administrative Agent, in its
sole discretion.

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

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

          “Pledge Agreements” means each of (i) that certain Pledge Agreement (as amended,
restated, supplemented or otherwise modified) dated as of even date herewith made by Tempus
Holdings, LLC in favor of the Administrative Agent, providing for a pledge of 100% of the
membership interests in the Borrower and (ii) that certain Pledge Agreement (as amended, restated,
supplemented or otherwise modified) dated as of even date herewith made by the Borrower in favor of
the Administrative Agent, providing for a pledge of 100% of the membership interests in Mystic
Dunes, LLC and “Pledge Agreement” shall mean either of such agreements.

          “Prior Quarter” has the meaning assigned to such term in Section 5.01(d).

          “Prior Year” has the meaning assigned to such term in Section 5.01(e).

          “Projections” means, collectively, the Quarterly Projections and Annual Projections.

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          “Quarterly Projections” has the meaning assigned to such term in Section
5.01(d).

          “Receivables” shall mean all accounts receivable (including, without limitation, all
rights to payment created by or arising from sales of goods, leases of goods or the rendition of
services rendered no matter how evidenced whether or not earned by performance).

          “Recipient” means, as applicable, (a) the Administrative Agent or (b) any Lender (and,
in the case of a Lender that is classified as a partnership for U.S. Federal tax purposes, a Person
treated as the beneficial owner thereof for U.S. Federal tax purposes).

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

          “Regulatory Approval” means (a) any authorization, consent, approval, license, lease,
ruling, permit, tariff, rate, certification, waiver, exemption, filing, variance, claim, order,
judgment or decree of, by or with, (b) any required notice to, (c) any declaration of or with or
(d) any registration by or with, any Governmental Authority.

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

          “Required Lenders” means at any time, subject to Sections 2.14(b) and
9.02(f), Lenders having Credit Exposures and Available Revolving Commitments representing
more than 50% of the sum of the total Credit Exposures and Available Revolving Commitments at such
time.

          “Restricted Payment” means any payment to be made in respect of the costs and expenses
incurred by the Borrower.

          “Revolving Commitment” means, with respect to each Lender, the commitment, if any, to
make Revolving Loans hereunder, expressed as an amount representing the maximum aggregate amount of
such Lender’s Revolving Credit Exposure hereunder, as such commitment may be (a) reduced or
terminated from time to time pursuant to Section 2.05, and (b) reduced or increased from
time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The
initial aggregate amount of the Revolving Lenders’ Revolving Commitments is $5,500,000.

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

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

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

          “Revolving Maturity Date” means June 30, 2015.

          “RFA Facility” means that certain receivables finance loan made by Resort Finance
America, LLC to Mystic Dunes Receivables, LLC, a wholly-owned indirect subsidiary of Borrower
pursuant to that certain Loan and Security Agreement dated as of June 30, 2011, among, inter alia,
Resort Finance America, LLC and Mystic Dunes Receivables, LLC.

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          “RFA Guaranty” means that certain Guaranty, dated as of June 30, 2011, provided by the
Borrower and Mystic Dunes, LLC for the benefit of Resort Finance America, LLC and relating to the
RFA Facility.

          “RFA Participation” means the Borrower’s ten percent (10%) participation in the RFA
Facility.

          “S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services
LLC business.

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

          “SEC” means the United States Securities and Exchange Commission.

          “Securitization Entity” means, as to the Borrower or any of its Subsidiaries, any
special purpose bankruptcy-remote corporation, partnership, trust, limited liability company or
other business entity that is formed by and will remain wholly owned by the Borrower or any
Subsidiary for the sole and exclusive purpose of purchasing or financing assets of the Borrower
and/or its Subsidiaries pursuant to a Permitted Securitization.

          “Solvent” means, in reference to the Borrower, (a) the fair value of the assets of the
Borrower, at a fair valuation, will exceed its debts and liabilities, subordinated, contingent or
otherwise; (b) the present fair saleable value of the property of the Borrower will be greater than
the amount that will be required to pay the probable liability of its debts and other liabilities,
subordinated, contingent or otherwise, as such debts and other liabilities become absolute and
matured; (c) the Borrower will be able to pay its debts and liabilities, subordinated, contingent
or otherwise, as such debts and liabilities become absolute and matured; and (d) the Borrower will
not have unreasonably small capital with which to conduct the business in which it is engaged as
such business is now conducted and is proposed to be conducted after the Effective Date. For
purposes of this definition, each of the phrases “will not have unreasonably small capital” and
“able to pay its debts and liabilities, subordinated, contingent or otherwise and other commitments
as such debts and other liabilities become absolute and matured” means that such Person will be
able to generate enough cash from operations, asset dispositions or refinancing, or a combination
thereof, to meet its obligations as they become due.

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

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

          “subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of
which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP as of such date, as
well as any other corporation, limited liability company, partnership, association or other entity
(a) of which securities or other ownership interests representing more than 50% of the equity or
more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the
general partnership interests are, as of such date, owned, Controlled or held, or (b) that is, as
of such date, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by
the parent and one or more subsidiaries of the parent.

13

 

          “Subsidiary” means each of Mystic Dunes, LLC, Mystic Dunes Receivables, LLC and Mystic
Dunes Myrtle Beach, LLC.

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

          “Tempus Guaranty” means that certain secured Guaranty, dated as of June 30, 2011,
provided by Tempus Holdings, LLC for the benefit of the Administrative Agent in respect of the
obligations arising under this Agreement and the other Loan Documents.

          “Term Lender” means, collectively, Tranche A Term Lenders and Tranche B Term Lenders.

          “Term Loan Commitment” means, collectively, the Tranche A Term Loan Commitment and the
Tranche B Term Loan Commitment.

          “Term Loans” means, collectively, the Tranche A Term Loans and the Tranche B Term
Loans.

          “Textron Facility” means that certain inventory finance loan made by Textron Financial
Corporation to Mystic Dunes Myrtle Beach, LLC, a wholly owned indirect subsidiary of Borrower
pursuant to that certain Amended and Restated Inventory Loan and Security Agreement dated as of
June 30, 2011, among, inter alia, Textron Financial Corporation and Mystic Dunes Myrtle Beach, LLC.

          “Tranche A Term Loan Commitment” means (a) as to any Tranche A Term Lender, the
aggregate commitment of such Tranche A Term Lender to make Tranche A Term Loans as set forth on
Schedule 2.01 or in the most recent Assignment Agreement or other documentation
contemplated hereby executed by such Tranche A Term Lender and (b) as to all Tranche A Term
Lenders, the aggregate commitment of all Tranche A Term Lenders to make Tranche A Term Loans, which
aggregate commitment shall be $7,451,713.91 on the date of this Agreement. After advancing the
Tranche A Term Loan, each reference to a Tranche A Term Lender’s Tranche A Term Loan Commitment
shall refer to that Tranche A Term Lender’s Applicable Percentage of the Tranche A Term Loans.

          “Tranche A Term Loan Maturity Date” means June 30, 2015.

          “Tranche A Term Loans” means the term loans made by the Tranche A Term Lenders to the
Borrower pursuant to Section 2.01.

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

          “Tranche B Term Loan Commitment” means (a) as to any Tranche B Term Lender, the
aggregate commitment of such Tranche B Term Lender to make Tranche B Term Loans as set forth on
Schedule 2.01 or in the most recent Assignment Agreement or other documentation
contemplated hereby executed by such Tranche B Term Lender and (b) as to all Tranche B Term
Lenders, the aggregate commitment of all Tranche B Term Lenders to make Tranche B Term Loans, which
aggregate commitment shall be $28,148,457.26 on the date of this Agreement. After advancing the
Tranche B Term Loan, each reference to a Tranche B Term Lender’s Tranche B Term Loan Commitment
shall refer to that Tranche B Term Lender’s Applicable Percentage of the Tranche B Term Loans.

14

 

          “Tranche B Term Loan Maturity Date” means June 30, 2015.

          “Tranche B Term Loans” means the term loans made by the Tranche B Term Lenders to the
Borrower pursuant to Section 2.01.

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

          “Transactions” means the execution, delivery and performance by the Borrower of this
Agreement and the other Loan Documents, the borrowing of Loans and other credit extensions, the use
of the proceeds thereof.

          “U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30)
of the Code.

          “U.S. Tax Certificate” has the meaning assigned to such term in Section
2.11(f)(ii)(D)(2).

          “UCC” means the Uniform Commercial Code as from time to time in effect in the
specified jurisdiction.

          “Unused Fee” shall mean, with respect to any Lender for any fiscal quarter, a fee
payable to such Lender in an amount equal to the product of (a) 1.0% times (b) an amount equal to
(i) such Lender’s weighted average Revolving Commitment for such fiscal quarter minus (ii) the
aggregate amount of such Lender’s weighted average Revolving Credit Exposure for such fiscal
quarter.

          “Voting Stock” means, with respect to any Person, the Equity Interests of any class or
classes of such Person, the holders of which are ordinarily, in the absence of contingencies,
entitled to vote for corporate directors (or persons performing similar functions) of such Person;
provided, however, that Voting Stock shall not include any preferred class of Equity Interests of
any person solely by reason of the right of such class to elect one or more members of the Board of
Directors (or similar governing body) of such Person unless such class is generally entitled to
vote on any matter submitted to the holders of common classes of Equity Interests.

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

          “Withholding Agent” means the Borrower and the Administrative Agent.

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

          SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to
the singular and plural forms of the terms defined. Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The
word “will” shall be construed to have the same meaning and effect as the word “shall”. The word
“law” shall be construed as referring to all statutes, rules, regulations, codes and other laws
(including official rulings and interpretations thereunder having the force of law or with which
affected Persons customarily comply), and all judgments, orders and decrees, of all Governmental
Authorities. Unless the context requires otherwise (a) any definition of or reference to any
agreement, instrument or other document herein shall

15

 

be construed as referring to such agreement, instrument or other document as from time to time
amended, restated, supplemented or otherwise modified (subject to any restrictions on such
amendments, restatements, supplements or modifications set forth herein), (b) any definition of or
reference to any statute, rule or regulation shall be construed as referring thereto as from time
to time amended, supplemented or otherwise modified (including by succession of comparable
successor laws), (c) any reference herein to any Person shall be construed to include such Person’s
successors and assigns (subject to any restrictions on assignment set forth herein) and, in the
case of any Governmental Authority, any other Governmental Authority that shall have succeeded to
any or all functions thereof, (d) the words “herein”, “hereof” and “hereunder”, and words of
similar import, shall be construed to refer to this Agreement in its entirety and not to any
particular provision hereof, (e) all references herein to Articles, Sections, Exhibits and
Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to,
this Agreement, (f) the words “asset” and “property” shall be construed to have the same meaning
and effect and to refer to any and all tangible and intangible assets and properties, including
cash, securities, accounts and contract rights, and (g) all actions by specified officers of a
Person shall be deemed to be taken by such specified officer solely in such specified officer’s
capacity as such officer.

          SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein,
all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in
effect from time to time; provided that, if the Borrower notifies the Administrative Agent
that the Borrower requests an amendment to any provision hereof to eliminate the effect of any
change occurring after the date hereof in GAAP or in the application thereof on the operation of
such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders
request an amendment to any provision hereof for such purpose) (including, without limitation, any
change in GAAP resulting in any operating lease being reclassified as a capital lease), regardless
of whether any such notice is given before or after such change in GAAP or in the application
thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied
immediately before such change shall have become effective until such notice shall have been
withdrawn or such provision amended in accordance herewith. Notwithstanding any other provision
contained herein, all terms of an accounting or financial nature used herein shall be construed,
and all computations of amounts and ratios referred to herein shall be made (i) without giving
effect to any election under Accounting Standards Codification 825-10-25 (previously referred to as
Statement of Financial Accounting Standards (“ASC”) 159) (or any other Accounting Standards
Codification or Financial Accounting Standard having a similar result or effect) to value any
Indebtedness or other liabilities of the Borrower or any Subsidiary at “fair value”, as defined
therein and (ii) without giving effect to any treatment of Indebtedness in respect of convertible
debt instruments under ASC 470-20-15 (previously referred to as Financial Accounting Standards
Board Staff Position APB 14-1) to value any such Indebtedness in a reduced or bifurcated manner as
described therein, and such Indebtedness shall at all times be valued at the full stated principal
amount thereof.

          SECTION 1.05. Status of Obligations. In the event that the Borrower shall at any time
issue or have outstanding any Subordinated Indebtedness, the Borrower shall take all such actions
as shall be necessary to cause the Obligations to constitute senior indebtedness (however
denominated) in respect of such Subordinated Indebtedness and to enable the Administrative Agent
and the Lenders to have and exercise any payment blockage or other remedies available or
potentially available to holders of senior indebtedness under the terms of such Subordinated
Indebtedness. Without limiting the foregoing, the Obligations are hereby designated as “senior
indebtedness” and as “designated senior indebtedness” and words of similar import under and in
respect of any indenture or other agreement or instrument under which such Subordinated
Indebtedness is outstanding and are further given all such other designations as shall be required
under the terms of any such Subordinated Indebtedness in order that the Lenders may have and
exercise any payment blockage or other remedies available or potentially available to holders of
senior indebtedness under the terms of such Subordinated Indebtedness. Notwithstanding the
foregoing, the Administrative Agent and each Lender acknowledge and agree that pursuant to Section
2(e) of the

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RFA Guaranty, for so long as a payment default pursuant to Section 7.1(a) of the Loan and
Security Agreement evidencing the RFA Facility has occurred and is continuing with respect to
principal required to be paid pursuant to Sections 2.6(d) or 2.6(e) of the Loan and Security
Agreement (as in effect on the date hereof), no payments may be made to Administrative Agent or any
Lender as may be required hereby.

ARTICLE II

The Credits

          SECTION 2.01. Commitments. Subject to the terms and conditions set forth herein, (a)
each Revolving Lender agrees to make Revolving Loans to the Borrower in Dollars from time to time
during the Availability Period in an aggregate principal amount that will not result in (i) the
amount of such Lender’s Revolving Credit Exposure exceeding such Lender’s Revolving Commitment or
(ii) the sum of the total Revolving Credit Exposures exceeding the aggregate Revolving Commitments,
(b) each Tranche A Term Lender with a Tranche A Term Loan Commitment agrees to make a Tranche A
Term Loan to the Borrower in Dollars on the Effective Date, in an amount equal to such Lender’s
Tranche A Term Loan Commitment by making immediately available funds available to the Borrower’s
designated account, not later than the time specified by the Administrative Agent and (c) each
Tranche B Term Lender with a Tranche B Term Loan Commitment agrees to make a Tranche B Term Loan to
the Borrower in Dollars on the Effective Date, in an amount equal to such Lender’s Tranche B Term
Loan Commitment by making immediately available funds available to the Borrower’s designated
account, not later than the time specified by the Administrative Agent. Within the foregoing
limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay
and reborrow Revolving Loans. Amounts repaid or prepaid in respect of Term Loans pursuant to
Section 2.07 may not be reborrowed.

          SECTION 2.02. Loans and Borrowings. (a) Each Loan shall be made as part of a
Borrowing consisting of Loans of the same Class made by the Lenders ratably in accordance with
their respective Commitments of the same Class. The failure of any Lender to make any Loan
required to be made by it shall not relieve any other Lender of its obligations hereunder;
provided that the Commitments of the Lenders are several and no Lender shall be responsible
for any other Lender’s failure to make Loans as required. The Revolving Loans and the Term Loans
shall be repaid as set forth in Section 2.06.

          (b) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled
to request or continue any Revolving Borrowing on or after the end of the Availability Period.

          SECTION 2.03. Requests for Borrowings. To request a Borrowing of Revolving Loans at
any time following the Effective Date, the Borrower shall notify the Administrative Agent of such
request by telephone not later than 11:00 a.m., New York City time, three (3) Business Days before
the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable
and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a
written Borrowing Request in a form approved by the Administrative Agent and signed by the
Borrower. Each such telephonic and written Borrowing Request shall specify the following
information in compliance with Section 2.02:

     (i) the aggregate amount of the requested Borrowing, which shall be in an amount at
least equal to $500,000 and an integral multiple of $100,000 thereafter;

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

17

 

     (iii) the location and number of the Borrower’s account to which funds are to be
disbursed, which shall comply with the requirements of Section 2.04.

Promptly following receipt of a Borrowing Request in accordance with this Section, the
Administrative Agent shall advise each Lender of the details thereof and of the amount of such
Lender’s Loan to be made as part of the requested Borrowing.

          SECTION 2.04. Funding of Borrowings. On the Effective Date, and, with respect to the
Revolving Loans, on each date thereafter a Borrowing of a Revolving Loan is to be made in
accordance with this Agreement, each Lender shall make each Loan to be made by it hereunder,
ratably in accordance with its Commitment, on the proposed date thereof by wire transfer of
immediately available funds by 12:00 noon, New York City time, to the account of the Borrower most
recently designated by it for such purpose by notice to the Administrative Agent and each Lender in
an amount equal to such Lender’s Applicable Percentage; provided that Term Loans shall be
made as provided in Sections 2.01(b) and (c).

          SECTION 2.05. Termination and Reduction of Commitments. (a) Unless previously
terminated, (i) the Term Loan Commitment shall terminate at 5:00 p.m. (New York City time) on the
Effective Date and (ii) the Revolving Commitments shall terminate on the Revolving Maturity Date.

          SECTION 2.06. Repayment of Loans; Evidence of Debt. (a) The Borrower hereby
unconditionally promises to pay (i) to each Revolving Lender the then unpaid principal amount of
each Revolving Loan maintained by such Lender on the Revolving Maturity Date, (ii) to each Tranche
A Term Lender, the then unpaid principal amount of each Tranche A Term Loan maintained by such
Lender on the Tranche A Term Loan Maturity Date and (iii) to each Tranche B Term Lender, the then
unpaid principal amount of each Tranche B Term Loan maintained by such Lender on the Tranche B Term
Loan Maturity Date.

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

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

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

          (e) Any Lender may request that Loans made by it be evidenced by a promissory note in
substantially the form of Exhibit B-1 with respect to such Lender’s Revolving Loans and in
substantially the form of Exhibit B-2 with respect to such Lender’s Term Loans. In such event, the
Borrower shall prepare, execute and deliver to such Lender a promissory note payable to the order
of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in
a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory
note and interest thereon shall at all times (including after assignment pursuant to Section
9.04) be represented by one or more

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promissory notes in such form payable to the order of the payee named therein (or, if such
promissory note is a registered note, to such payee and its registered assigns).

          SECTION 2.07. Prepayment of Loans. (a) The Borrower shall have the right at any
time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in
accordance with the provisions of this Section 2.07. The Borrower shall notify the
Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder not later
than 11:00 a.m., New York City time, three (3) Business Days before the date of prepayment. Each
such notice shall be irrevocable and shall specify the prepayment date and the principal amount of
each Borrowing or portion thereof to be prepaid. Promptly following receipt of any such notice
relating to a Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof.
Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid
Borrowing. Prepayments shall be accompanied by (i) accrued interest to the extent required by
Section 2.09 and the Exit Fee, if applicable.

          (b) In the event and on each occasion that any Net Participation Proceeds are received by or
on behalf of the Borrower or any of its Subsidiaries, the Borrower shall, immediately after such
Net Participation Proceeds are received, prepay the outstanding principal balance of the Tranche A
Term Loan in an aggregate amount equal to 100% of such Net Participation Proceeds.

          (c) In the event that the Borrower has any Excess Cash Flow as of the end of any fiscal
quarter, the Borrower shall, on the next Interest Payment Date, prepay the outstanding principal
balance of the Tranche B Term Loan in an aggregate amount equal to 100% of such Excess Cash Flow.

          (d) If at any time the sum of the aggregate principal amount of all of the Revolving Credit
Exposures exceeds the aggregate Revolving Commitment, the Borrower shall immediately repay
Revolving Borrowings in an aggregate principal amount sufficient to cause the aggregate principal
amount of all Revolving Credit Exposures to be less than or equal to the Commitment.

          SECTION 2.08. Fees. (a) The Borrower agrees, on the Effective Date to pay to the
Administrative Agent a closing fee, which shall equal the product of (x) 2.00% and (y) the
aggregate outstanding Commitments on such date.

          (b) On each Interest Payment Date, the Borrower will pay, for the account of the
Administrative Agent, the Administration Fee then accrued and unpaid.

          (c) On each Interest Payment Date, the Borrower will pay, to the Administrative Agent, for the
benefit of each Lender having a Commitment to make Revolving Loans, the Unused Fee then accrued and
unpaid.

          (d) On each of the Tranche A Term Loan Maturity Date and the Tranche B Term Loan Maturity
Date, if not paid earlier in accordance herewith, the Borrower will pay to the Administrative
Agent, for the benefit of each Lender then maintaining a Term Loan an amount equal to the Exit Fee
applicable to the Tranche A Term Loans or the Tranche B Term Loans, as applicable.

          (e) All fees payable hereunder shall be paid on the dates due, in immediately available funds,
to the Administrative Agent, for the benefit of the applicable Lender or at such Lender’s
direction. Fees paid shall not be refundable under any circumstances.

          (f) On each Interest Payment Date occurring more than 60 days after the Closing Date, if the
covenant set forth in Section 5.01(j) shall not have been satisfied on or prior to such
Interest Payment

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Date, the Borrower will pay to the Administrative Agent, for the benefit of each Lender, a fee
equal to $20,000.

          SECTION 2.09. Interest. (a) The Loans shall bear interest at the Applicable Rate; of
which (i) an amount equal to not less than 10% per annum shall be payable in cash on each Interest
Payment Date and (ii) the remaining accrued amount may be paid in cash or accrued and added to the
principal amount of the applicable Loan and paid as and when principal is due hereunder.

          (b) Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or
other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity,
upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before
judgment, at a rate per annum equal to 2% plus the Applicable Rate (payable in cash).

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

          (d) All interest hereunder shall be computed on the basis of a year of 360 days, and in each
case shall be payable for the actual number of days elapsed (including the first day but excluding
the last day).

          SECTION 2.10. Increased Costs. (a) If any Change in Law shall:

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

     (ii) subject any Recipient to any Taxes on its loans, loan principal, letters of
credit, commitments, or other obligations, or its deposits, reserves, other liabilities or
capital attributable thereto (other than (A) Indemnified Taxes, (B) Excluded Taxes and (C)
Other Connection Taxes on gross or net income, profits, or revenue (including value-added or
similar Taxes));

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

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

20

 

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

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

          SECTION 2.11. Taxes. (a) Withholding of Taxes; Gross-Up. Each payment by
the Borrower under any Loan Document shall be made without withholding for any Taxes, unless such
withholding is required by any law. If any Withholding Agent determines, in its sole discretion
exercised in good faith, that it is so required to withhold Taxes, then such Withholding Agent may
so withhold and shall timely pay the full amount of withheld Taxes to the relevant Governmental
Authority in accordance with applicable law. If such Taxes are Indemnified Taxes, then the amount
payable by the Borrower shall be increased as necessary so that, net of such withholding (including
such withholding applicable to additional amounts payable under this Section), the applicable
Recipient receives the amount it would have received had no such withholding been made.

          (b) Payment of Other Taxes by the Borrower. The Borrower shall timely pay any
Other Taxes to the relevant Governmental Authority in accordance with applicable law.

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

          (d) Indemnification by the Borrower. The Borrower shall indemnify each Recipient for
any Indemnified Taxes that are paid or payable by such Recipient in connection with any Loan
Document (including amounts paid or payable under this Section 2.11(d)) and any reasonable
expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. The indemnity
under this Section 2.11(d) shall be paid within ten (10) days after the Recipient delivers
to the Borrower a certificate stating the amount of any Indemnified Taxes so paid or payable by
such Recipient and describing the basis of the indemnity claim. Such certificate shall be
conclusive of the amount so payable absent manifest error. Such Recipient shall deliver a copy of
such certificate to the Administrative Agent.

          (e) Indemnification by the Lenders. Each Lender shall severally indemnify the
Administrative Agent for any Taxes (but, in the case of any Indemnified Taxes, only to the extent
that the Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes
and without limiting the obligation of the Borrower to do so) attributable to such Lender that are
paid or payable by the Administrative Agent or the Borrower (as applicable) in connection with any
Loan Document and any reasonable expenses arising therefrom or with respect thereto, whether or not
such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.
The indemnity under this

21

 

Section 2.11(e) shall be paid within ten (10) days after the Administrative Agent delivers to
the applicable Lender a certificate stating the amount of Taxes so paid or payable by the
Administrative Agent. Such certificate shall be conclusive of the amount so paid or payable absent
manifest error.

          (f) Status of Lenders. (i) Any Lender that is entitled to an exemption from, or
reduction of, any applicable withholding Tax with respect to any payments under any Loan Document
shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably
requested by the Borrower or the Administrative Agent, such properly completed and executed
documentation prescribed by law or reasonably requested by the Borrower or the Administrative Agent
as will permit such payments to be made without, or at a reduced rate of, withholding. In
addition, any Lender, if requested by the Borrower or the Administrative Agent, shall deliver such
other documentation prescribed by law or reasonably requested by the Borrower or the Administrative
Agent as will enable the Borrower or the Administrative Agent to determine whether or not such
Lender is subject to any withholding (including backup withholding) or information reporting
requirements. Notwithstanding anything to the contrary in the preceding two sentences, the
completion, execution and submission of such documentation (other than such documentation set forth
in Section 2.11(f)(ii) (A) through (E) below) shall not be required if in the
Lender’s judgment such completion, execution or submission would subject such Lender to any
material unreimbursed cost or expense or would materially prejudice the legal or commercial
position of such Lender. Upon the reasonable request of the Borrower or the Administrative Agent,
any Lender shall update any form or certification previously delivered pursuant to this Section
2.11(f). If any form or certification previously delivered pursuant to this Section expires or
becomes obsolete or inaccurate in any respect with respect to a Lender, such Lender shall promptly
(and in any event within ten (10) days after such expiration, obsolescence or inaccuracy) notify
the Borrower and the Administrative Agent in writing of such expiration, obsolescence or inaccuracy
and update the form or certification if it is legally eligible to do so.

     (ii) Without limiting the generality of the foregoing, if the Borrower is a U.S.
Person, any Lender with respect to the Borrower shall, if it is legally eligible to do so,
deliver to the Borrower and the Administrative Agent (in such number of copies reasonably
requested by the Borrower and the Administrative Agent) on or prior to the date on which
such Lender becomes a party hereto, duly completed and executed copies of whichever of the
following is applicable:

     (A) in the case of a Lender that is a U.S. Person, IRS Form W-9 certifying that
such Lender is exempt from U.S. Federal backup withholding tax;

     (B) in the case of a Non-U.S. Lender claiming the benefits of an income tax
treaty to which the United States is a party (1) with respect to payments of
interest under any Loan Document, IRS Form W-8BEN establishing an exemption from, or
reduction of, U.S. Federal withholding Tax pursuant to the “interest” article of
such tax treaty and (2) with respect to any other applicable payments under any Loan
Document, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S.
Federal withholding Tax pursuant to the “business profits” or “other income” article
of such tax treaty;

     (C) in the case of a Non-U.S. Lender for whom payments under any Loan Document
constitute income that is effectively connected with such Lender’s conduct of a
trade or business in the United States, IRS Form W-8ECI;

     (D) in the case of a Non-U.S. Lender claiming the benefits of the exemption for
portfolio interest under Section 881(c) of the Code both (1) IRS Form W-8BEN and (2)
a certificate substantially in the form of Exhibit C (a “U.S. Tax
Certificate”) to the effect

22

 

that such Lender is not (a) a “bank” within the meaning
of Section 881(c)(3)(A) of the
Code, (b) a “10 percent shareholder” of the Borrower within the meaning of
Section 881(c)(3)(B) of the Code, (c) a “controlled foreign corporation” described
in Section 881(c)(3)(C) of the Code and (d) conducting a trade or business in the
United States with which the relevant interest payments are effectively connected;

     (E) in the case of a Non-U.S. Lender that is not the beneficial owner of
payments made under this Agreement (including a partnership or a participating
Lender) (1) an IRS Form W-8IMY on behalf of itself and (2) the relevant forms
prescribed in clauses (A), (B), (C), (D) and
(F) of this paragraph (f)(ii) that would be required of each such
beneficial owner or partner of such partnership if such beneficial owner or partner
were a Lender; provided, however, that if the Lender is a
partnership and one or more of its partners are claiming the exemption for portfolio
interest under Section 881(c) of the Code, such Lender may provide a U.S. Tax
Certificate on behalf of such partners; or

     (F) any other form prescribed by law as a basis for claiming exemption from, or
a reduction of, U.S. Federal withholding Tax together with such supplementary
documentation necessary to enable the Borrower or the Administrative Agent to
determine the amount of Tax (if any) required by law to be withheld.

     (iii) If a payment made to a Lender under any Loan Document would be subject to U.S.
Federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the
applicable reporting requirements of FATCA (including those contained in Section 1471(b) or
1472(b) of the Code, as applicable), such Lender shall deliver to the Withholding Agent, at
the time or times prescribed by law and at such time or times reasonably requested by the
Withholding Agent, such documentation prescribed by applicable law (including as prescribed
by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Withholding Agent as may be necessary for the Withholding Agent to comply
with its obligations under FATCA, to determine that such Lender has or has not complied with
such Lender’s obligations under FATCA and, as necessary, to determine the amount to deduct
and withhold from such payment. Solely for purposes of this Section 2.11(f)(iii),
“FATCA” shall include any amendments made to FATCA after the date of this Agreement.

          (g) Treatment of Certain Refunds. If any party determines, in its sole discretion
exercised in good faith, that it has received a refund of any Taxes as to which it has been
indemnified pursuant to this Section 2.11 (including additional amounts paid pursuant to
this Section 2.11), it shall pay to the indemnifying party an amount equal to such refund
(but only to the extent of indemnity payments made under this Section with respect to the Taxes
giving rise to such refund), net of all out-of-pocket expenses (including any Taxes) of such
indemnified party and without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund). Such indemnifying party, upon the request of such
indemnified party, shall repay to such indemnified party the amount paid to such indemnified party
pursuant to the previous sentence (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) in the event such indemnified party is required to repay such
refund to such Governmental Authority. Notwithstanding anything to the contrary in this
Section 2.11(g), in no event will any indemnified party be required to pay any amount to
any indemnifying party pursuant to this Section 2.11(g) if such payment would place such
indemnified party in a less favorable position (on a net after-Tax basis) than such indemnified
party would have been in if the indemnification payments or additional amounts giving rise to such
refund had never been paid. This Section 2.11(g) shall not be construed to require any
indemnified party to make available its Tax returns (or any other information relating to its Taxes
which it deems confidential) to the indemnifying party or any other Person.

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          SECTION 2.12. Payments Generally; Pro Rata Treatment; Sharing of Set-offs.

          (a) The Borrower shall make each payment required to be made by it hereunder (whether of
principal, interest, fees or of amounts payable under Section 2.10 or 2.11, or
otherwise) prior to 12:00 noon, New York City time on the date when due, in immediately available
funds, without set-off or counterclaim. Any amounts received after such time on any date may, in
the discretion of the Administrative Agent, be deemed to have been received on the next succeeding
Business Day for purposes of calculating interest thereon. All such payments shall be made to the
Administrative Agent for the benefit of the Persons entitled thereto. If any payment hereunder
shall be due on a day that is not a Business Day, the date for payment shall be extended to the
next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon
shall be payable for the period of such extension. All payments hereunder shall be made in
Dollars.

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

          SECTION 2.13. Mitigation Obligations. If any Lender requests compensation under
Section 2.10, or the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 2.11, then such
Lender shall use reasonable efforts to designate a different lending office for funding or booking
its Loans hereunder or to assign its rights and obligations hereunder to another of its offices,
branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i)
would eliminate or reduce amounts payable pursuant to Section 2.10 or 2.11, as the
case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or
expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to
pay all reasonable costs and expenses incurred by any Lender in connection with any such
designation or assignment.

24

 

          SECTION 2.14. Defaulting Lenders. Notwithstanding any provision of this Agreement to
the contrary, if any Lender becomes a Defaulting Lender, then for so long as such Lender is a
Defaulting Lender, the Available Revolving Commitment and Credit Exposure of such Defaulting Lender
shall not be included in determining whether the Required Lenders have taken or may take any action
hereunder (including any consent to any amendment, waiver or other modification pursuant to
Section 9.02); provided, that this Section 2.14 shall not apply to the vote
of a Defaulting Lender in the case of an amendment, waiver or other modification requiring the
consent of each Lender affected thereby.

          SECTION 2.15. Grant of Security Interest; Collateral.

          (a) To secure the payment and performance of all Obligations owing to the Administrative
Agent, the Revolving Lenders, the Tranche A Term Lenders and the Tranche B Term Lenders, ratably,
the Borrower hereby grants to the Administrative Agent, for the benefit of itself and each Lender
and Indemnitee, a continuing security interest in and Lien upon, and pledges to the Administrative
Agent, all of its rights, title and interests in and to, all of the Borrower’s interest in and to
all of its now owned or hereafter acquired property and assets, including all accounts, general
intangibles, goods, documents, securities, moneys, investment property, contract rights, chattel
paper, instruments, deposit accounts, certificates of deposit, adjustments of deposits, letters of
credit, letter of credit rights, advices of credit, commercial tort claims, oil, gas and minerals
and other property and interests of the Borrower (whether real or personal and whether tangible or
intangible now existing or hereafter acquired) and any and all additions and accessions thereto,
and any and all replacements, products and proceeds (including insurance proceeds) thereof (the
“Collateral”).

          (b) The Borrower agrees that the Administrative Agent for the benefit of the applicable
Lenders is authorized to file or record financing statements with respect to the Collateral in such
form and in such offices as Lenders reasonably determine appropriate to further evidence the
perfection of the security interests of Lenders under this Agreement and to use the collateral
description “all assets of the Debtor” in any such financing statements. The parties intend this
Agreement to be a “security agreement” within the meaning of the applicable UCC.

          (c) Borrower shall promptly notify the Administrative Agent for the benefit of the applicable
Lenders of any commercial tort claims in which it has an interest arising after the date of this
Agreement and shall provide all necessary information concerning each such Commercial Tort Claim,
or upon any and all commercial tort claims upon request by the Administrative Agent for the benefit
of the applicable Lenders, and make all necessary filings with respect thereto to perfect Lenders’
security interest therein.

ARTICLE III

Representations and Warranties

          The Borrower represents and warrants to the Lenders, on the Effective Day, each Interest
Payment Date and each date on which a Borrowing occurs hereunder, that:

          SECTION 3.01. Existence, Qualification and Power; Compliance with Laws. The Borrower
and each Subsidiary of the Borrower, (a) is a Person duly organized or formed, validly existing and
in good standing or subsisting under the laws of the jurisdiction of its organization, (b) has all
requisite power and authority to own or lease its material assets and carry on its business and
execute, deliver and perform its obligations under the Loan Documents to which it is a party, (c)
is duly qualified

25

 

and in good standing under the laws of each jurisdiction where its ownership,
lease or operation of
properties or the conduct of its business as now conducted requires such qualification, (d) is
in compliance in all material respects with all laws, orders, writs, injunctions and orders and (e)
has all requisite Regulatory Approvals to own its properties and operate its business as currently
conducted, in the case of the foregoing clauses (c) through (e), except for such
matters that could not reasonably be expected to result in a Material Adverse Effect.

          SECTION 3.02. Binding Effect. This Agreement and each other Loan Document has been
duly executed and delivered by the Borrower. This Agreement and each other Loan Document
constitute the legal, valid and binding obligation of the Borrower enforceable against the Borrower
in accordance with its terms, except as such enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights
generally and subject to general principles of equity, regardless of whether considered in a
proceeding of equity or at law.

          SECTION 3.03. Authorization; No Contravention. The execution, delivery and
performance by the Borrower of this Agreement and each other Loan Document and the consummation of
the transactions contemplated hereby and thereby, are within the Borrower’s corporate power, have
been duly authorized by all necessary corporate action, and do not and will not (a) contravene the
terms of any of such the Borrower’s charter, by-laws or other organizational documents, (b)
conflict with or result in any breach or contravention of, or the creation of any Lien under (other
than as permitted by Section 6.01), or require any payment to be made under (i) any
Contractual Obligation to which the Borrower or any of its Subsidiaries is a party or affecting the
Borrower or any of its Subsidiaries or the properties of the Borrower or any of its Subsidiaries or
(ii) any material order, injunction, writ or decree of any Governmental Authority or any arbitral
award to which the Borrower or any of its Subsidiaries or any of their property is subject or (c)
violate any applicable law, in the case of the foregoing clause (c), except for such
matters that could reasonably be expected to result in a Material Adverse Effect.

          SECTION 3.04. Governmental Authorization; Other Consents. There are no Regulatory
Approvals and there is no approval, consent, exemption, authorization, or other action by, or
notice to, or filing with any other Person that is necessary or required in connection with (a) the
execution, delivery or performance by, or enforcement against, the Borrower of this Agreement or
any other Loan Document and the consummation of the transactions contemplated hereby and thereby,
or (b) the ability of the Borrower to operate its businesses as currently operated, except for the
Regulatory Approvals and the other approvals, consents, exemptions, authorizations, actions,
notices and filings which have been duly obtained, taken, given or made and are in full force and
effect.

          SECTION 3.05. Taxes. The Borrower and each of its Subsidiaries has filed all tax
returns and reports required to be filed, and have paid all 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 (a) which are not yet due and payable or (b) which are
being contested in good faith by appropriate proceedings diligently conducted and for which
adequate reserves have been provided in accordance with GAAP, and, with respect to clause (b), have
been disclosed to the Administrative Agent.

          SECTION 3.06. No Default. Neither the Borrower nor any Subsidiary is in default under
or with respect to, any Contractual Obligation, except for any such default which could not
reasonably be expected to result in a Material Adverse Effect. No Default or Event of Default has
occurred and is continuing.

          SECTION 3.07. Financial Statements; No Material Adverse Effect. (a) The financial
statements, if any, furnished from time to time pursuant to Section 5.01 fairly present in
all material

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respects the financial condition of the Borrower and its Subsidiaries as of the dates
thereof and their
results of operations for the period covered thereby in accordance with GAAP, consistently
applied throughout the periods covered thereby. As of the date of such financial statements, (i)
there has been no sale, transfer or other disposition by the Borrower or any of its Subsidiaries of
any material part of the business or property of the Borrower and its Subsidiaries, taken as a
whole, (ii) except for those transactions taking place on the Effective Date, there has been no
purchase or other acquisition by the Borrower or any of its Subsidiaries of any business or
property (including any Equity Interests of any other Person) material in relation to the
consolidated financial condition of the Borrower and its consolidated Subsidiaries (taken as a
whole) and (iii) the Borrower and its Subsidiaries did not have any material contingent
liabilities, material liabilities for Taxes, material and unusual forward or long-term commitments
or material and unrealized or anticipated losses from any unfavorable commitments, except in the
case of (i), (ii) or (iii), as referred to or reflected or provided for in such financial
statements or as arising solely from the execution and delivery of the Loan Documents, in each
case, which is not reflected in the foregoing financial statements or in the notes thereto or has
not otherwise been disclosed in writing to the Lenders prior to the Effective Date.

          (b) Since May 6, 2011, there has been no event or circumstance, either individually or in the
aggregate, that has resulted in or could reasonably be expected to result in a Material Adverse
Effect.

          SECTION 3.08. Security Interest. The provisions of this Agreement are effective to
create in favor of the Administrative Agent, on behalf of the applicable Lenders a legal, valid and
enforceable first-priority lien on all right, title and interest of Borrower in the Collateral.
Except for filings completed on or prior to the Effective Date and as contemplated hereby, no
filing or other action will be necessary to perfect or protect such liens.

          SECTION 3.09. Ownership of Assets. (a) The Borrower and each of its Subsidiaries
owns and (to the extent applicable) has good and marketable title to its material properties and
assets, in each case free and clear of all Liens other than Liens permitted pursuant to Section
6.01 and (b) the Borrower and each of its Subsidiaries has good and marketable title in fee
simple to, or valid leasehold interests in, or easements or other limited property interests in,
all material real property necessary in the ordinary conduct of its business, free and clear of all
Liens except for Liens permitted pursuant to Section 6.01, and, in each case, subject to
such exceptions, defects and qualifications as do not (i) affect the value of any such properties
of the Borrower or such Subsidiary in any material respect or (ii) affect the use made or proposed
to be made of such properties by the Borrower or such Subsidiary in any material respect.

          SECTION 3.10. No Other Business. Since the Effective Date, the Borrower has not
engaged in any business and has not incurred any liabilities other than (a) directly relating to
its direct or indirect ownership of the Subsidiaries and (b) as otherwise not prohibited under the
Loan Documents. From and after the Effective Date, none of the Borrower of any of its Subsidiaries
have engaged in any business other than those carried on by the Borrower and its Subsidiaries as of
the Effective Date.

          SECTION 3.11. Insurance. All insurance required to be obtained by the Borrower and
the Subsidiaries of the Borrower pursuant to Section 5.08 has been obtained and is in full
force and effect, and all premiums then due and payable on all such insurance have been paid.

          SECTION 3.12. Disclosure. No report, financial statement, certificate or other
written information furnished by or on behalf of the Borrower or any of its Subsidiaries to the
Administrative Agent or any Lender in connection with the transactions contemplated hereby and the
negotiation of this Agreement or delivered hereunder or any other Loan Document (as modified or
supplemented by other information so furnished) when taken as a whole contains any material
misstatement of fact or omits to

27

 

state any material fact necessary to make the statements therein,
in the light of the circumstances under
which they were made, not materially misleading; provided that with respect to the
Projections and any other projected financial information, forecasts, estimates or forward looking
information, the Borrower represents only that such information and materials have been prepared in
good faith on the basis of the assumptions stated therein, which assumptions were believed to be
reasonable at the time of preparation of such forecasts, and no representation or warranty is made
as to the actual attainability of any such Projections or forecasts.

          SECTION 3.13. Subsidiaries; Equity Interests. (a) As of Effective Date, the Borrower
has no other Subsidiaries other than those listed in Schedule 3.13; and at all relevant
times, all of the outstanding Equity Interests owned by the Borrower in its Subsidiaries have been
validly issued, are fully paid and nonassessable, and all Equity Interests owned by the Borrower in
each of its Subsidiaries are owned free and clear of all Liens, except Liens permitted by
Section 6.01.

          (b) As of the Effective Date, Schedule 3.13 (i) sets forth the name and jurisdiction
of each such Subsidiary and (ii) sets forth the ownership interest of the Borrower and any other
Subsidiary in each such Subsidiary, including the percentage of such ownership. The Borrower will
provide the Administrative Agent such information regarding any additional Subsidiaries created or
acquired following the Effective Date.

          SECTION 3.14. No Dividend Restrictions. Except as set forth in Schedule 3.14
or as restricted by applicable law, any Governmental Authority or this Agreement, there are no
restrictions (contractual or regulatory) limiting the ability of the Subsidiaries of the Borrower
from making distributions, dividends or other return on capital to the Borrower in an amount
sufficient to satisfy the Obligations under the Loan Documents.

          SECTION 3.15. Litigation. There are no actions, suits, proceedings, disputes or known
claims pending or, to the knowledge of the Borrower, threatened in writing or contemplated, at law,
in equity, in arbitration or before any Governmental Authority, by or against the Borrower or any
of its Subsidiaries or against any of their properties or revenues that either individually or in
the aggregate, would be expected to result in a Material Adverse Effect.

          SECTION 3.16. Solvency. After giving effect to the transactions contemplated by the
Loan Documents, the Borrower, on a consolidated basis with its Subsidiaries, is Solvent.

          SECTION 3.17. Margin Regulations; Investment Company Act; USA PATRIOT Act.

          (a) The Borrower is not engaged nor will it engage, principally or as one of its important
activities, in the business of purchasing or carrying margin stock (within the meaning of
Regulation T, U and X issued by the Board), or extending credit for the purpose of purchasing or
carrying margin stock.

          (b) None of the Borrower or any Subsidiary is or, after giving effect to the transactions
contemplated hereby, will be an “investment company” as defined in and subject to regulation under
the Investment Company Act of 1940.

          (c) The making of the Loans and the use of the proceeds thereof shall not violate the Trading
With the Enemy Act, as amended, or any of the foreign assets control regulations of the U.S.
Treasury Department (31 C.F.R., Subtitle B, Chapter V, as amended) or any enabling legislation or
executive order relating thereto and each of the Borrower and the Subsidiaries is in compliance
with the U.S. Executive Order 13224 of September 24, 2001 Blocking Property and Prohibiting
Transactions With

28

 

Persons Who Commit, Threaten to Commit or Support Terrorism (66 Fed. Reg. 49, 079
(2001) (the “Anti-Terrorism Order”) and the provisions of Public Law 107-56 (the “USA
PATRIOT Act”).

          SECTION 3.18. ERISA Compliance. (a) Except as could not, either individually or in
the aggregate, reasonably be expected to result in a Material Adverse Effect, each Plan is in
compliance with the applicable provisions of ERISA, the Code and other Federal or state laws.

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

          SECTION 3.19. Environmental Compliance. Except as disclosed in writing to the
Administrative Agent, to the best of Borrower’s knowledge:

          (a) There are no claims, actions, suits, or proceedings in respect of or affecting the
Borrower or any of its Subsidiaries (or any of their respective properties) alleging potential
liability or responsibility for violation of, or otherwise relating to, any Environmental Law that
could, individually or in the aggregate, reasonably be expected to result in a Material Adverse
Effect.

          (b) The properties owned, leased or operated by the Borrower or its Subsidiaries do not
contain any Hazardous Materials in amounts or concentrations which (i) constitute, or constituted a
violation of, (ii) require remedial action under, or (iii) could give rise to Environmental
Liabilities, which violations, remedial actions and liabilities, individually or in the aggregate,
could reasonably be expected to result in a Material Adverse Effect.

          (c) None of the Borrower or any of its Subsidiaries is undertaking, and has not completed,
either individually or together with other potentially responsible parties, any investigation or
assessment or remedial or response action relating to any actual or threatened release, discharge
or disposal of Hazardous Materials at any site, location or operation, either voluntarily or
pursuant to the order of any Governmental Authority or the requirements of any Environmental Law
except for such investigation or assessment or remedial or response action that, individually or in
the aggregate, could not reasonably be expected to result in a Material Adverse Effect.

          (d) All Hazardous Materials generated, used, treated, handled or stored at, or transported to
or from, any property currently or formerly owned or operated by the Borrower or any of its
Subsidiaries have been disposed of in a manner not reasonably expected to result, individually or
in the aggregate, in a Material Adverse Effect.

          (e) Except as could not reasonably be expected to result, individually or in the aggregate, in
a Material Adverse Effect, none of the Borrower or any of its Subsidiaries has contractually
assumed any Environmental Liability.

ARTICLE IV

Conditions

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

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

     (b) The Administrative Agent shall have received a favorable written opinions
(addressed to the Administrative Agent and the Lenders and dated the Effective Date) of
Katten Muchin Rosenman LLC, counsel for the Borrower, in form and substance reasonably
acceptable to the Administrative Agent, and covering such other matters relating to the
Borrower, the Loan Documents or the Transactions as the Administrative Agent shall
reasonably request. The Borrower hereby requests such counsel to deliver such opinions.

     (c) The Lenders shall have received satisfactory documentation of (i) financial
statement projections through and including the Borrower’s 2015 fiscal year, together with
such information as the Administrative Agent and the Lenders shall reasonably request
(including, without limitation, a detailed description of the assumptions used in preparing
such projections), (ii) all receivables pool data requested by the Administrative Agent,
(iii) Projections described in Section 5.01(c) for the next fiscal quarter, (iv)
projected HOA payments and expenses for 2012 and (v) inventory balance.

     (d) The Administrative Agent shall have received (i) such documents and certificates as
the Administrative Agent or its counsel may reasonably request relating to the organization,
existence and good standing of the Borrower, the authorization of the Transactions and any
other legal matters relating to the Borrower, the Loan Documents or the Transactions, all in
form and substance satisfactory to the Administrative Agent and its counsel and as further
described in the list of closing documents attached as Exhibit D and (ii) to the
extent requested by any of the Lenders, all documentation and other information required by
bank regulatory authorities under applicable “know-your-customer” and anti-money laundering
rules and regulations, including the USA PATRIOT Act.

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

     (f) The Administrative Agent shall have received evidence satisfactory to it that any
credit facility currently in effect for the Borrower shall have been terminated and
cancelled and all indebtedness thereunder shall have been fully repaid (or shall be
simultaneously repaid with the initial Loans) and any and all liens thereunder shall have
been (or shall be simultaneously) terminated and released.

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

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

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

          SECTION 4.02. Each Borrowing. The obligation of each Lender to make a Loan on the
occasion of any Borrowing, is subject to the satisfaction of the following conditions:

     (a) The representations and warranties of the Borrower set forth in this Agreement
shall be true and correct on and as of the date of such Borrowing (or to the extent that
such representations and warranties specifically refer to an earlier date, as of such
earlier date).

     (b) At the time of and immediately after giving effect to such Borrowing, no Default or
Event of Default shall have occurred and be continuing.

Each Borrowing shall be deemed to constitute a representation and warranty by the Borrower on the
date thereof as to the matters specified in paragraphs (a) and (b) of this Section.

ARTICLE V

Affirmative Covenants

          Until the Revolving Commitments have expired or been terminated and the principal of and
interest on each Loan and all fees payable hereunder shall have been paid in full, the Borrower
covenants and agrees with the Lenders that:

          SECTION 5.01. Financial Statements. The Borrower will deliver to the Administrative
Agent and each Lender:

          (a) as soon as available, but in any event within one hundred twenty (120) days after the end
of each fiscal year of the Borrower, from and after the Effective Date, a consolidated balance
sheet of the Borrower and its consolidated Subsidiaries as at the end of such fiscal year, and the
related consolidated statements of income or operations, stockholders’ 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 by BDO Seidman (or any other independent registered public accounting firm
acceptable to the Administrative Agent in its reasonable discretion), which report and opinion
shall be prepared in accordance with GAAP, 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
shall state that said consolidated financial statements fairly present the consolidated financial
condition and results of operations of the Borrower and its consolidated Subsidiaries as at the end
of, and for, such fiscal year in accordance with GAAP;

          (b) as soon as available, but in any event within sixty (60) days after the end of each of the
first three (3) fiscal quarters of each fiscal year of the Borrower, from and after the Effective
Date, an unaudited consolidated balance sheet of the Borrower and its consolidated Subsidiaries as
at the end of each such fiscal quarter, and the related (i) unaudited consolidated statements of
income or operations and stockholders’ equity for such fiscal quarter and for the portion of the
fiscal year then ended and (ii) unaudited consolidated statements of cash flows for the portion of
the fiscal year then ended and a business breakout consistent with the Borrower’s past practice,
setting forth in each case in comparative form the figures for the corresponding fiscal quarter of
the previous fiscal year and the corresponding

31

 

portion of the previous fiscal year, all in
reasonable detail and certified by a Financial Officer of the Borrower as fairly presenting in all
material respects the financial condition, results of operations,
stockholders’ equity and cash flows of the Borrower and its consolidated Subsidiaries in
accordance with GAAP, subject only to normal year-end audit adjustments and the absence of
footnotes;

          (c) as soon as available, but in any event within forty-five (45) days after the end of each
calendar month, the Borrower will provide to the Administrative Agent, a monthly financial
statement, setting forth in comparative form the figures for the corresponding month of the
previous fiscal year and the corresponding portion of the previous fiscal year;

          (d) within thirty (30) days following the Closing Date, a schedule setting forth the projected
business and operating expenses and working capital requirements of the Borrower and its
Subsidiaries and a comprehensive business plan of the Borrower (the “Business Plan”),
together with a detailed consolidated budget by fiscal quarter for fiscal year 2011, which schedule
of business and operating expenses, Business Plan and detailed consolidated budget shall be
accompanied by a certificate of a Financial Officer of the Borrower stating that such schedule,
Business Plan and budget have been prepared in good faith;

          (e) as soon as available, and in any event no later than thirty (30) days after the end of
each fiscal year of the Borrower (the “Prior Year”) from and after the Effective Date, a
detailed consolidated budget by fiscal quarter for the current fiscal year (the “Current
Year”) (which may be updated as required and including a summary of the material underlying
assumptions applicable thereto) (collectively, the “Annual Projections”), which Annual
Projections shall in each case be accompanied by (i) a certificate of a Financial Officer of the
Borrower stating that such Annual Projections have been prepared in good faith and are based on
estimates, information and assumptions believed to be reasonable at the time of preparation of the
Annual Projections;

          (f) within three (3) Business Days following the reasonable request of the Administrative
Agent, and in any event on the last Business Day of each calendar month, a report summarizing such
individual resort performance metrics (initially, this report shall include the “Daily Sales
Tracker” information) as may from time to time be agreed upon by the Borrower and the
Administrative Agent;

          (g) promptly after the same becomes publicly available, copies, if any, of all registration
statements, regular periodic reports and press releases filed by the Borrower or any Subsidiary
with the SEC, or any Governmental Authority succeeding to any or all of the functions of the SEC,
or with any national securities exchange;

          (h) promptly following delivery thereof, copies of all servicing or other periodic reports and
notices delivered by the Borrower or any Subsidiary to Resort Finance America, LLC or other secured
party in connection with the RFA Facility;

          (i) as soon as available, but in any event within forty-five (45) days after the end of each
fiscal year, the Borrower will provide to the Administrative Agent, a statement of cash flows in
substantially the form attached hereto as Exhibit F;

          (j) within sixty (60) days following the Closing Date, an agreement, in form and substance
satisfactory to the Administrative Agent, by and among the Borrower, its relevant Affiliates and
the Administrative Agent setting forth an agreement between such parties with regard to the
methodology for tracking and approving for each fiscal year the cash flows set forth on Exhibit
F;

32

 

          (k) such other information regarding the Borrower and its Subsidiaries as the Administrative
Agent or any Lender may reasonably request for the Administrative Agent or such Lender to carry out
and be satisfied with the “know your customer” and anti-money laundering rules and
regulations, including, without limitation, the USA PATRIOT Act or other checks required to be
carried out by local regulatory authorities; and

          (l) such other information regarding the Borrower and its Subsidiaries as the Administrative
Agent may reasonably request.

          SECTION 5.02. Compliance Certificate. The Borrower will deliver to the Administrative
Agent and each Lender, (a) concurrently with any delivery of financial statements under Section
5.01(a) or Section 5.01(b), a certificate of a Financial Officer of the Borrower (i)
certifying as to whether a Default or Event of Default has occurred and, if a Default has occurred,
specifying the details thereof and any action taken or proposed to be taken with respect thereto,
(ii) setting forth reasonably detailed calculations demonstrating compliance with Section
6.11, and (iii) stating whether any change in GAAP or in the application thereof has occurred
since the date of the audited financial statements referred to in Section 5.01(a), and, if
any such change has occurred, specifying the effect of such change on the financial statements
accompanying such certificate, and (b) concurrently with any delivery of financial statements under
Section 5.01(a), a certificate of the accounting firm that reported on such financial
statements stating whether they obtained knowledge during the course of their examination of such
financial statements of any Default under Section 6.11 (which certificate may be limited to
the extent required by accounting rules or guidelines and in any event shall be limited to Defaults
insofar as they may relate to accounting matters).

          SECTION 5.03. Notices. Promptly, but in any event within five (5) Business Days,
after an Authorized Officer of the Borrower has obtained knowledge thereof, the Borrower shall
notify or deliver to (unless prohibited by applicable law in the case of clauses (a)
through (d)) the Administrative Agent and each Lender:

          (a) copies of any written notice received by the Borrower regarding any actual or threatened
dispute, litigation, investigation, proceeding or suspension with respect to the Borrower or any of
its Subsidiaries by or before any court or any Governmental Authority which could reasonably be
expected to result in a Material Adverse Effect;

          (b) copies of all Material Notices and Material Communications received by the Borrower or any
of its Subsidiaries in connection with any Contractual Obligation;

          (c) details of any proposed transfer of any Equity Interests of the Borrower or any of its
Subsidiaries (excluding transfers of Equity Interests of any wholly-owned Subsidiary of the
Borrower transferred to the Borrower or to another wholly-owned Subsidiary of the Borrower);

          (d) details of any other events or circumstances that results in or could reasonably be
expected to result in a Material Adverse Effect; and

          (e) of any Default or Event of Default.

Each notice pursuant to this Section shall be accompanied by a written statement of a Financial
Officer of the Borrower (x) that such notice is being delivered pursuant to Section 5.03
and (y) setting forth details of the occurrence referred to therein and stating what action the
Borrower has taken and proposes to take with respect thereto.

33

 

          SECTION 5.04. Compliance with Laws.

          (a) The Borrower will, and will cause each of its Subsidiaries to, comply with all
applicable laws, including, without limitation, ERISA and all other employee benefit laws and
shall from time to time obtain and renew, and shall comply with, each Regulatory Approval as is or
in the future shall be necessary for the operation of its business under applicable Laws (except
any such applicable laws and Regulatory Approvals the non-compliance with which could not
reasonably be expected to result in a Material Adverse Effect).

          (b) The Borrower and each Subsidiary of the Borrower shall not petition, request or take any
legal or administrative action that seeks to amend, supplement or modify any Regulatory Approval in
any material respect unless such amendment, supplement or modification could not reasonably be
expected to result in a Material Adverse Effect. The Borrower shall promptly upon receipt by it or
any of its Subsidiaries or upon publication furnish to the Administrative Agent and each Lender a
copy (certified by an Authorized Officer of the Borrower) of each amendment, supplement or
modification to any such Regulatory Approval.

          SECTION 5.05. Preservation of Existence, Etc. The Borrower will, and will cause each
of its Subsidiaries to:

          (a) preserve, renew and maintain in full force and effect its legal existence under the laws
of the jurisdiction of its organization; and

          (b) take all reasonable action to maintain all rights, privileges (including its good
standing), permits, licenses and franchises necessary or desirable in the normal conduct of its
business, except such rights, privileges, permits, licenses or franchise which, if not maintained,
could not reasonably be expected to result in a Material Adverse Effect.

          SECTION 5.06. Compliance with Environmental Laws. The Borrower will, and will cause
each of its Subsidiaries to, except to the extent that the failure to do so could not reasonably be
expected to result in, individually or in the aggregate, a Material Adverse Effect, (a) comply, and
take all reasonable actions to cause all lessees and other Persons operating or occupying its
properties to comply with all applicable Environmental Laws and Environmental Permits, (b) obtain
and renew all Environmental Permits necessary for its operations and properties; and (c) in each
case to the extent required by Environmental Laws, conduct any investigation, study, sampling and
testing, and undertake any cleanup, removal, remedial or other action necessary to remove and clean
up all Hazardous Materials from any of its properties, in accordance with the requirements of all
Environmental Laws.

          SECTION 5.07. Maintenance of Properties; Ownership of Subsidiaries.

          (a) Except to the extent that the failure to do so could not reasonably be expected to result
in a Material Adverse Effect, the Borrower will, and will cause its Subsidiaries to, (i) maintain,
preserve and protect all of its properties and equipment material in the operation of its business
in good working order, repair and condition, ordinary wear and tear excepted and casualty or
condemnation excepted and all in accordance with established practices of the Borrower, and (ii)
make all necessary renewals, replacements, modifications, improvements, upgrades, extensions and
additions thereof or thereto in accordance with prudent industry practice, and

          (b) Subject to Section 6.02, the Borrower shall at all times from and after the Effective Date
own, directly or indirectly, 100% of the Equity Interests of the Subsidiaries.

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          SECTION 5.08. Maintenance of Insurance. The Borrower will, and will cause each of its
Subsidiaries to, maintain with financially sound and reputable insurance companies insurance in
such amounts and against such risks as are usually carried by companies engaged in similar business
and as are
consistent with the prudent operation of its business.

          SECTION 5.09. Use of Proceeds. The Borrower will use the proceeds of the Loans (a)
with respect to the Tranche A Term Loan, to finance the Borrower’s purchase of the RFA
Participation pursuant to that certain Participation Agreement dated as of June 30, 2011 between
the Borrower and RFA (as the same may be amended, restated, supplemented or otherwise modified from
time to time); (b) with respect to the Tranche B Term Loans and the initial Revolving Borrowing,
for the purposes set forth in the most recent “sources and uses” statement provided by the Borrower
to the Administrative Agent and approved by the Administrative Agent; and (c) with respect to any
other Revolving Borrowings, to make intercompany loans to finance working capital needs of the
Borrower’s Subsidiaries.

          SECTION 5.10. Payment of Obligations. The Borrower will, and will cause each of its
Subsidiaries to, pay, discharge or otherwise satisfy as the same shall become due and payable, all
its obligations and liabilities in respect of Taxes, assessments and governmental charges or levies
imposed upon it or upon its income or profits or in respect of its property, except to the extent
that the failure to do so could not reasonably be expected to result in a Material Adverse Effect.

          SECTION 5.11. Cooperation. The Borrower will perform such acts as are reasonably
requested by the Administrative Agent to carry out the intent of, and transactions contemplated by,
this Agreement and the other Loan Documents.

          SECTION 5.12. Books and Records. The Borrower will, and will cause each of its
Subsidiaries to, maintain proper books of record and account, in which entries that are full, true
and correct in all material respects and are in conformity with GAAP consistently applied shall be
made of all material transactions and matters involving the assets and business of the Borrower or
such Subsidiary, as the case may be.

          SECTION 5.13. Loan Documents; Material Documents. The Borrower will, and will cause
its Subsidiaries to:

          (a) Perform and observe all of its covenants and obligations pursuant to any Contractual
Obligation to which it is a party or pursuant to which it has any obligations, except to the extent
that the failure to so perform or observe could not reasonably be expected to result in a Material
Adverse Effect;

          (b) Take all reasonable and necessary action to prevent the termination or cancellation of any
Loan Document or other Contractual Obligation in accordance with the terms of such Loan Document or
other Contractual Obligation or otherwise (except for the expiration of any Loan Document or other
Contractual Obligation in accordance with its terms and not as a result of a breach or default
thereunder), except to the extent, in the case of any Contractual Obligation, that the failure to
take such action could not reasonably be expected to result in a Material Adverse Effect; and

          (c) enforce against the relevant party to such Loan Document or other Contractual Obligation
such covenants of such Loan Document or other Contractual Obligation in accordance with its terms,
except, in the case of any Contractual Obligation, to the extent that the failure to so enforce
could not reasonably be expected to result in a Material Adverse Effect.

          SECTION 5.14. Inspection Rights. At any reasonable time and from time to time upon
reasonable notice, the Borrower will, at its own expense, permit or arrange for the Administrative
Agent

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(together with, from and after the occurrence and during the continuation of an Event of
Default, any Lender who wishes to participate) and their respective agents and representatives to
examine and make copies of and abstracts from the records and books of account of, and the
properties of, the Borrower and
each of its Subsidiaries, and to discuss the affairs, finances and accounts of the Borrower
and its Subsidiaries with the Borrower and its Subsidiaries and their respective officers,
directors and accountants.

          SECTION 5.15. Reports Accurate. All Projections (if prepared by the Borrower, or to
the extent that information contained therein is supplied by the Borrower), information, exhibits,
financial statements, documents, books, records or reports furnished or to be furnished by the
Borrower to the Administrative Agent or a Lender in connection with this Agreement are true,
complete and accurate in all material respects.

ARTICLE VI

Negative Covenants

          Until the Revolving Commitments have expired or terminated and the principal of and interest
on each Loan and all fees payable hereunder have been paid in full, the Borrower covenants and
agrees with the Lenders that:

          SECTION 6.01. Liens. The Borrower will not, and will not permit any Subsidiary to
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 on the Borrower’s property or other assets existing on the Effective Date and listed
on Schedule 6.01 and any extension, renewal or replacement of the obligations secured
thereby, but only to the extent such extension, renewal or replacement does not increase the
outstanding principal amount thereof;

          (c) Liens for Taxes, assessments or governmental charges which are not yet due and payable or
which are being contested in good faith and by appropriate proceedings diligently conducted, if
adequate reserves with respect thereto are maintained on the books of the applicable Person in
accordance with GAAP;

          (d) statutory Liens of landlords, carriers, warehousemen, mechanics, materialmen, repairmen,
construction contractors or other like Liens arising in the ordinary course of business which
secure amounts not yet due and payable or which are being contested in good faith and by
appropriate proceedings diligently conducted, if adequate reserves with respect thereto are
maintained on the books of the applicable Person in accordance with GAAP;

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

          (f) easements, rights-of-way, restrictions, encroachments, protrusions and other similar
encumbrances and minor title defects affecting real property which, in the aggregate, do not in any
case materially interfere with the ordinary conduct of the business of the Borrower or any of its
Subsidiaries;

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          (g) Liens arising in the ordinary course of business from netting services, overdraft
protection and otherwise in connection with deposit, securities and commodities accounts;

          (h) Liens securing judgments that do not involve any risk of forfeiture of any assets of any
of the Subsidiaries or any Loan Document that do not exceed $50,000 in the aggregate and that
within ten (10) days are being contested in good faith and by appropriate proceedings diligently
conducted, if adequate reserves with respect thereto are maintained on the books of the applicable
Person in accordance with GAAP for the payment of money not constituting an Event of Default under
Article VII(g) or (h);

          (i) Liens for purchase money security interests which are secured solely by the assets
acquired, up to $50,000 at any time outstanding;

          (j) zoning, building and other generally applicable land use restrictions, which, in the
aggregate, do not in any case materially interfere with the ordinary conduct of the business of the
Borrower or any of its Subsidiaries;

          (k) Liens that have been placed by a third party on the fee title of leased real property or
property over which the Borrower or any of its Subsidiaries has easement rights, and subordination
or similar agreements relating thereto;

          (l) Liens securing Indebtedness incurred pursuant to any Permitted Securitization; and

          (m) Liens securing Indebtedness or other obligations in an aggregate amount not exceeding
$25,000 at any time outstanding.

          SECTION 6.02. Dispositions. The Borrower will not, and will not permit any Subsidiary
to, make any Disposition or enter into any agreement to make any Disposition, except:

          (a) Dispositions in the ordinary course of business (including Dispositions of obsolete or
worn-out property or non-core real estate no longer required or useful in the business or
operations of the Borrower or any of its Subsidiaries);

          (b) Dispositions of assets and businesses set forth on Schedule 6.02;

          (c) Dispositions of Permitted Investments; and

          (d) other Dispositions, in one transaction or a series of related transactions, with the
approval of the Administrative Agent.

          SECTION 6.03. Restricted Payments. The Borrower may not declare or pay or make,
directly or indirectly, any Restricted Payment; except for the payment of:

          (a) Permitted Expenses; and

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          (b) other Restricted Payments with the consent of the Administrative Agent.

          SECTION 6.04. Investments. The Borrower will not and will not permit any of its
Subsidiaries to, make or hold any Investments, except:

          (a) Permitted Investments;

          (b) Intercompany Loans existing on the Closing Date;

          (c) the RFA Guaranty; provided, that the Indebtedness arising under the RFA Guaranty
shall be unsecured;

          (d) Investments in Equity Interests of the Borrower’s Subsidiaries, which Subsidiaries (i) are
in existence on the date hereof or (ii) with the consent of the Administrative Agent, are
wholly-owned Subsidiaries formed after the Effective Date;

          (e) Investments received in connection with the bankruptcy or reorganization of, or settlement
of delinquent accounts and disputes with, customers and supplies, in each case in the ordinary
course of business;

          (f) extensions of trade credit in the ordinary course of business;

          (g) Investments existing on the date hereof and identified on Schedule 6.04;

          (h) guaranties in connection with the Textron Facility; provided, that the
Indebtedness arising under any such guaranties shall be unsecured;

          (i) guaranties or limited undertakings in connection with conduit, securitization or other
receivables financings, including, inter alia, Permitted Securitizations; provided, that
the Indebtedness arising under any such guaranties or limited undertakings shall be unsecured; and

          (j) in addition to Investments permitted by clauses (a) through (i) above,
additional Investments with the consent of the Administrative Agent.

          SECTION 6.05. Fundamental Changes. The Borrower will not, without the consent of the
Administrative Agent, 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.

          SECTION 6.06. Nature of Business. The Borrower will not, and will not permit its
Subsidiaries to:

          (a) engage in any line of business substantially different from those lines of business
conducted by the Borrower and its Subsidiaries on the Effective Date or any business reasonably
related or ancillary thereto;

          (b) in the case of the Borrower, from and after the Effective Date, conduct, transact or
otherwise engage in any business or operations other than those reasonably related to (i) its
ownership of the Equity Interests of the Subsidiaries, (ii) the maintenance of its legal existence,
(iii) the performance of this Agreement and the other Loan Documents, and (iv) any transaction that
the Borrower is not prohibited from undertaking this Agreement; or

          (c) terminate or amend, waive, modify or supplement any of the provisions of its charter,
by-laws or other organizational documents or consent to any such termination, amendment, waiver,
modification or supplement, unless any of the foregoing actions could not reasonably be expected to
result in a Material Adverse Effect.

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          SECTION 6.07. Transactions with Affiliates. The Borrower will not, without the
consent of the Administrative Agent, enter into any transaction of any kind with any Affiliate,
whether or not in the ordinary course of business, other than (i) on terms substantially as
favorable to the Borrower as
would be obtainable by the Borrower at the time in a comparable arm’s-length transaction with
a Person other than an Affiliate and (ii) as approved or required by any Governmental Authority or
as required by applicable law.

          SECTION 6.08. Accounting Changes. The Borrower will not make any change in its fiscal
year except to the extent required by applicable law and/or GAAP. In such event, the Borrower may,
upon written notice to the Administrative Agent, change its fiscal year to any other fiscal year
reasonably acceptable to the Administrative Agent, in which case, the Borrower and the
Administrative Agent will, and are hereby authorized by the Lenders to, make any adjustments to
this Agreement that are necessary to reflect such change in fiscal year arising as a result of such
change in applicable law.

          SECTION 6.09. Restrictive Agreements. The Borrower will not, and will not permit any
of its Subsidiaries to, directly or indirectly, enter into, or incur or permit to exist any
agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the
ability of the Borrower or any Subsidiary to create, incur or permit to exist any Lien upon any of
its material property or assets (except as permitted under Section 6.01), or (b) the
ability of any wholly-owned Subsidiary to pay dividends or other distributions with respect to, or
to return capital in respect of its common equity interests or to make or repay loans or advances
to the Borrower or any other Subsidiary; provided that the foregoing shall not apply to (i)
prohibitions, restrictions and conditions imposed by applicable law, any Governmental Authority or
this Agreement, or (ii) prohibitions, restrictions or conditions identified on Schedule
6.08.

          SECTION 6.10. Abandonment. The Borrower will not, and will not permit any Subsidiary
to, without the consent of the Administrative Agent, abandon any of its businesses.

          SECTION 6.11. Preservation of Rights. The Borrower will not, and will not permit any
Subsidiary to, without the consent of the Administrative Agent, assign, cancel, terminate, waive
any material default under, material breach of or material right under, or materially amend,
supplement or modify or give any material consent under (including any consent or assignment of),
any Loan Document or Contractual Obligation.

          SECTION 6.12. Deviation from Business Plan. The Borrower will not and will not permit
any Subsidiary, without the consent of the Administrative Agent, to deviate in any material fashion
from the Business Plan and related consolidated budget, as supplemented from time to time by the
then current Annual Projections.

ARTICLE VII

Events of Default

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

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

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

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

          (d) the Borrower shall fail to observe or perform any covenant, condition or agreement
contained in Section 5.03, 5.05 or 5.09 or in Article VI;

          (e) the Borrower shall fail to observe or perform any covenant, condition or agreement
contained in this Agreement (other than those specified in clause (a), (b) or
(d) of this Article) or any other Loan Document, and such failure shall continue unremedied
for a period of sixty (60) days after the earlier of (i) the Borrower obtaining knowledge thereof
and (b) notice thereof from the Administrative Agent to the Borrower (which notice will be given at
the request of any Lender);

          (f) the Borrower or any Subsidiary shall fail to make any payment (whether of principal or
interest) in respect of any Material Indebtedness, when and as the same shall become due and
payable, and the effect of such failure is to cause a Material Adverse Effect;

          (g) (i) any event or condition occurs that results in any Material Indebtedness (other than
the Indebtedness incurred in connection with the RFA Facility) becoming due prior to its scheduled
maturity or that enables or permits (with or without the giving of notice, the lapse of time or
both) the holder or holders of any Material Indebtedness or any trustee or agent on its or their
behalf to cause any Material Indebtedness to become due, or to require the prepayment, repurchase,
redemption or defeasance thereof, prior to its scheduled maturity, and the effect of such event or
condition is to cause a Material Adverse Effect or (ii) any event or condition occurs that results
in the Material Indebtedness incurred in connection with the RFA Facility becoming due prior to its
scheduled maturity or that enables or permits (with or without the giving of notice, the lapse of
time or both) the holder or holders of such Material Indebtedness or any trustee or agent on its or
their behalf to cause such Material Indebtedness to become due, or to require the prepayment,
repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided
that this clause (g) shall not apply to secured Indebtedness that becomes due as a result
of the permitted voluntary sale or transfer of the property or assets securing such Indebtedness;

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

          (i) the Borrower or any Subsidiary shall (i) voluntarily commence any proceeding or file any
petition seeking liquidation, reorganization or other relief under any Federal, state or foreign
bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the
institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition
described

40

 

in clause (h) of this Article, (iii) apply for or consent to the appointment of a
receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any
Subsidiary or for a substantial part of
its assets, (iv) file an answer admitting the material allegations of a petition filed against
it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take
any action for the purpose of effecting any of the foregoing;

          (j) (i) the Borrower or any Subsidiary shall become unable, admit in writing its inability or
fail 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 the Borrower and its Subsidiaries, taken as a whole, and is not released, vacated or fully
bonded within sixty (60) days after its issue or levy;

          (k) one or more judgments for the payment of money in an aggregate amount in excess of
$250,000 shall be rendered against the Borrower, any Subsidiary or any combination thereof and the
same shall remain undischarged for a period of sixty (60) consecutive days during which execution
shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to
attach or levy upon any assets of the Borrower or any Subsidiary to enforce any such judgment;

          (l) this Agreement, for any reason, ceases to create a valid and perfected first priority lien
on or in the Collateral or other collateral relating thereto as described in the Loan Documents, or
Borrower so states in writing;

          (m) a Change in Control shall occur;

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

          (o) any material provision of any Loan Document for any reason ceases to be valid, binding and
enforceable in accordance with its terms (or the Borrower or any Subsidiary shall challenge the
enforceability of any Loan Document or shall assert in writing, or engage in any action or inaction
based on any such assertion, that any provision of any of the Loan Documents has ceased to be or
otherwise is not valid, binding and enforceable in accordance with its terms);

          (p) at any time, any financial statements to be delivered pursuant to Section 5.01
shall be qualified by the auditors and such qualification could reasonably be expected to result in
a Material Adverse Effect;

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

          (r) the termination, transfer, revocation or modification of any Material Contracts or leases
to which the Borrower or any Subsidiary is a party, the result of which could reasonably be
expected to result in a Material Adverse Effect and such termination, transfer, revocation or
modification remains in effect for a period of more than sixty (60) days after the occurrence
thereof.

then, and in every such event (other than an event with respect to the Borrower described in
clause (h) or (i) of this Article), and at any time thereafter during the
continuance of such event, the Administrative Agent may, and at the request of the Required Lenders
shall, by notice to the Borrower, take either or both of the following actions, at the same or
different times: (i) terminate the Commitments, and

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thereupon the Commitments shall terminate
immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in
part, in which case any principal not so declared to be due and payable
may thereafter be declared to be due and payable), and thereupon the principal of the Loans so
declared to be due and payable, together with accrued interest thereon and all fees and other
Obligations of the Borrower accrued hereunder and under the other Loan Documents, shall become due
and payable immediately, without presentment, demand, protest or other notice of any kind, all of
which are hereby waived by the Borrower; and in case of any event with respect to the Borrower
described in clause (h) or (i) of this Article, the Commitments shall automatically
terminate and the principal of the Loans then outstanding, together with accrued interest thereon
and all fees and other Obligations accrued hereunder and under the other Loan Documents, shall
automatically become due and payable, without presentment, demand, protest or other notice of any
kind, all of which are hereby waived by the Borrower. Upon the occurrence and during the
continuance of an Event of Default, the Administrative Agent may, and at the request of the
Required Lenders shall, protect and enforce its rights and remedies under the Loan Documents and
foreclose or otherwise realize upon its security for the performance of the obligations arising
under the Loan Documents, or exercise any other rights and remedies available to it at law, in
equity or by statute.

The Administrative Agent, on behalf of itself and the Lenders, shall have all of the rights and
remedies of a secured party under the Uniform Commercial Code of the State of New York and all
other rights and remedies accorded to a secured party at equity or law. The Borrower, for itself
and for all who may claim through or under them, hereby expressly waives and releases all right to
have the Collateral, or any part of the Collateral, marshaled on any foreclosure, sale or other
enforcement of the Administrative Agent’s rights and remedies.

In addition to the acceleration provisions set forth above, upon the occurrence and continuation of
an Event of Default, the Administrative Agent shall have the right to exercise any and all rights,
options and remedies provided for in the Loan Documents, under the UCC, the Bankruptcy Code or at
law or in equity, including, without limitation, the right to (i) apply any property of Borrower
held by the Administrative Agent or the Lenders to reduce the Obligations, (ii) foreclose the Liens
created hereunder, (iii) realize upon, take possession of and/or sell any Collateral or securities
pledged with or without judicial process, (iv) exercise all rights and powers with respect to the
Collateral as Borrower might exercise, (v) collect and send notices regarding the Collateral, with
or without judicial process, (vi) by its own means or with judicial assistance, enter any premises
at which Collateral and/or pledged securities are located, or render any of the foregoing unusable
or dispose of the Collateral and/or pledged securities on such premises without any liability for
rent, storage, utilities, or other sums, and Borrower shall not resist or interfere with such
action, (vii) at Borrower’s expense, require that all or any part of the Collateral be assembled
and made available to the Administrative Agent at any place designated by the Administrative Agent,
(viii) relinquish or abandon any Collateral or securities pledged or any Lien thereon.
Notwithstanding any provision of any Loan Document, the Administrative Agent, in its sole
discretion, shall have the right, at any time that Borrower fails to do so, and from time to time,
without prior notice, to: (i) obtain insurance covering any of the Collateral to the extent
required hereunder; (ii) pay for the performance of any of Obligations; (iii) discharge taxes or
Liens on any of the Collateral that are in violation of any Loan Document unless Borrower is in
good faith with due diligence by appropriate proceedings contesting those items; and (iv) pay for
the maintenance and preservation of the Collateral. Such expenses and advances shall be added to
the Obligations until reimbursed to the Administrative Agent or the Lenders, as applicable, and
shall be secured by the Collateral, and such payments by the Administrative Agent shall not be
construed as a waiver by the Lenders of any Event of Default or any other rights or remedies of
Lenders.

Borrower hereby grants to Lenders, after the occurrence and during the continuance of an Event of
Default, an irrevocable, nonexclusive license (exercisable without payment of royalty or other

42

 

compensation to Borrower) to use, assign, license or sublicense any Intellectual Property now owned
or hereafter acquired by Borrower, and wherever the same may be located, including in such license
reasonable access as to all media in which any of the licensed items may be recorded or stored and
to all computer programs and used for the compilation or printout thereof, in each case in
connection with the exercise of the Administrative Agent’s or the Lenders’ remedies hereunder and
under the other Loan Documents.

The Administrative Agent is hereby irrevocably made, constituted and appointed the true and lawful
attorney for Borrower with full power of substitution to do the following from and after the
occurrence and during the continuance of an Event of Default: (i) endorse the name of any such
Person upon any and all checks, drafts, money orders, and other instruments for the payment of
money that are payable to such Person and constitute collections on its accounts; (ii) execute in
the name of such Person any financing statements, schedules, assignments, instruments, documents,
and statements that it is obligated to give the Administrative Agent or the Lenders under any of
the Loan Documents; and (iii) do such other and further acts and deeds in the name of such Person
that the Administrative Agent or the Lenders may deem necessary or desirable to enforce any account
or other Collateral or to perfect the Administrative Agent’s security interest or lien in any
Collateral or after the occurrence of an Event of Default which is continuing, enforce an account
or other Collateral. In addition, if any such Person breaches its obligation hereunder to direct
payments of accounts or the proceeds of any other Collateral to the appropriate Borrower’s account,
the Administrative Agent on behalf of the Lenders, as the irrevocably appointed true and lawful
attorney for such Person pursuant to this paragraph, may, by the signature or other act of any of
the Administrative Agent’s officers or authorized signatories direct any private payor to pay
proceeds of accounts or any other Collateral to the appropriate Borrower’s account.

In addition to the acceleration provisions set forth above, upon the occurrence and continuation of
an Event of Default, Borrower shall take any action that the Administrative Agent may request in
order to enable the Administrative Agent to obtain and enjoy the full rights and benefits granted
to the Administrative Agent or the Lenders hereunder. Without limiting the generality of the
foregoing, upon the occurrence and continuation of any Event of Default, at the request of the
Administrative Agent and at Borrower’s sole cost and expense, Borrower shall execute all documents
and take all other actions requested by the Administrative Agent to enable it, its designee, any
receiver, trustee or similar official or any purchaser of all or any part of the Collateral to
obtain from any Person any required authority necessary to operate the business of Borrower.

ARTICLE VIII

The Administrative Agent

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

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

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          The Administrative Agent shall not have any duties or obligations except those expressly set
forth in the Loan Documents. Without limiting the generality of the foregoing, (a) the
Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of
whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any
duty to take any discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is
required to exercise in writing as directed by the Required Lenders (or such other number or
percentage of the Lenders as shall be necessary under the circumstances as provided in Section
9.02), and (c) except as expressly set forth in the Loan Documents, the Administrative Agent
shall not have any duty to disclose, and shall not be liable for the failure to disclose, any
information relating to the Borrower or any of its Subsidiaries that is communicated to or obtained
by the bank or other entity serving as Administrative Agent or any of its Affiliates in any
capacity. The Administrative Agent shall not be liable for any action taken or not taken by it
with the consent or at the request of the Required Lenders (or such other number or percentage of
the Lenders as shall be necessary under the circumstances as provided in Section 9.02) or
in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall
be deemed not to have knowledge of any Default unless and until written notice thereof is given to
the Administrative Agent by the Borrower or a Lender, and the Administrative Agent shall not be
responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with any Loan Document, (ii) the contents of any
certificate, report or other document delivered hereunder or in connection with any Loan Document,
(iii) the performance or observance of any of the covenants, agreements or other terms or
conditions set forth in any Loan Document, (iv) the validity, enforceability, effectiveness or
genuineness of any Loan Document or any other agreement, instrument or document, or (v) the
satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document,
other than to confirm receipt of items expressly required to be delivered to the Administrative
Agent.

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

          The Administrative Agent may perform any and all its duties and exercise its rights and powers
by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative
Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers
through their respective Related Parties. The exculpatory provisions of the preceding paragraphs
shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any
such sub-agent, and shall apply to their respective activities in connection with the syndication
of the credit facilities provided for herein as well as activities as Administrative Agent.

          Subject to the appointment and acceptance of a successor Administrative Agent as provided in
this paragraph, the Administrative Agent may resign at any time by notifying the Lenders and the
Borrower. Upon any such resignation, the Required Lenders shall have the right, in consultation
with the Borrower, to appoint a successor. If no successor shall have been so appointed by the
Required Lenders and shall have accepted such appointment within thirty (30) days after the
retiring Administrative Agent gives notice of its resignation, then the retiring Administrative
Agent may, on behalf of the Lenders, appoint a successor Administrative Agent which shall be an
entity with an office in New York, New York, or an Affiliate of any such entity. Upon the
acceptance of its appointment as Administrative Agent hereunder by a successor, such successor
shall succeed to and become vested with all the rights,

44

 

powers, privileges and duties of the retiring Administrative Agent, and the retiring
Administrative Agent shall be discharged from its duties and obligations hereunder. The fees
payable by the Borrower to a successor Administrative Agent shall be the same as those payable to
its predecessor unless otherwise agreed between the Borrower and such successor. After the
Administrative Agent’s resignation hereunder, the provisions of this Article and Section
9.03 shall continue in effect for the benefit of such retiring Administrative Agent, its
sub-agents and their respective Related Parties in respect of any actions taken or omitted to be
taken by any of them while it was acting as Administrative Agent.

          Each Lender acknowledges that it has, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and information as it has
deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each
Lender also acknowledges that it will, independently and without reliance upon the Administrative
Agent or any other Lender and based on such documents and information as it shall from time to time
deem appropriate, continue to make its own decisions in taking or not taking action under or based
upon this Agreement, any other Loan Document or any related agreement or any document furnished
hereunder or thereunder.

          The Lenders are not partners or co-venturers, and no Lender shall be liable for the acts or
omissions of, or (except as otherwise set forth herein in case of the Administrative Agent)
authorized to act for, any other Lender. The Administrative Agent shall have the exclusive right
on behalf of the Lenders to enforce the payment of the principal of and interest on any Loan after
the date such principal or interest has become due and payable pursuant to the terms of this
Agreement.

ARTICLE IX

Miscellaneous

          SECTION 9.01. Notices. (a) Except in the case of notices
and other communications expressly permitted to be given by telephone (and subject to paragraph
(b) below), all notices and other communications provided for herein shall be in writing and
shall be delivered by hand or overnight courier service, mailed by certified or registered mail or
sent by telecopy, as follows:

	 	 	 

	(i) if to the Borrower:

	 	Tempus Acquisition, LLC
	 

	 	10615 Park Run Drive
	 

	 	Las Vegas, NV 89144
	 

	 	Attn: General Counsel
	 

	 	Telephone: (702) 823-7550
	 

	 	Telecopy: (702) 765-8615
	 
	 	 
	with a copy to:

	 	Katten Muchin Rosenman LLP
	 

	 	525 West Monroe Street, Suite 1900
	 

	 	Chicago, IL 60661
	 

	 	Attn: Ann Marie Sink (337444/12)
	 

	 	Telephone: (312) 902-5233
	 

	 	Telecopy: (312) 577-8907
	 
	 	 
	(ii) if to the Administrative Agent:

	 	Guggenheim Corporate Funding, LLC
	 

	 	135 East 57th Street
	 

	 	New York, New York 10022
	 

	 	Attention: Kaitlin Trinh
	 

	 	Telephone: 212-651-0840
	 

	 	E-mail:
	 

	 	Kaitlin.Trinh@guggenheimpartners.com

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     (iii) if to any Lender, to it at its address (or telecopy number) set forth in its
Administrative Questionnaire provided to the Administrative Agent.

          (b) Notices and other communications to the Lenders hereunder may be delivered or furnished by
electronic communications pursuant to procedures approved by the Administrative Agent;
provided that the foregoing shall not apply to notices pursuant to Article II
unless otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative
Agent or the Borrower may, in its discretion, agree to accept notices and other communications to
it hereunder by electronic communications pursuant to procedures approved by it; provided
that approval of such procedures may be limited to particular notices or communications.

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

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

          (b) Neither this Agreement nor any provision hereof may be waived, amended or modified
except pursuant to an agreement or agreements in writing entered into by the Borrower and the
Required Lenders or by the Borrower and the Administrative Agent with the consent of the
Required Lenders; provided that no such agreement shall (i) increase the Commitment of
any Lender without the written consent of such Lender, (ii) reduce the principal amount of any
Loan or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the
written consent of each Lender directly affected thereby, (iii) postpone the scheduled date of
payment of the principal amount of any Loan (other than any reduction of the amount of, or any
extension of the payment date for, the mandatory prepayments required under Section
2.07(b), in each case which shall only require the approval of the Required Lenders), or any
interest thereon, or any fees payable hereunder, or reduce the amount of, waive or excuse any
such payment, or postpone the scheduled date of expiration of any Commitment, without the
written consent of each Lender directly affected thereby, (iv) change Section 2.12(b) or
(d) in a manner that would alter the pro rata sharing of payments required thereby,
without the written consent of each Lender, or (v) change any of the provisions of this Section
or the definition of “Required Lenders” or any other provision hereof specifying the number or
percentage of Lenders required to waive, amend or modify any rights hereunder or make any
determination or grant any consent hereunder, without the written consent of each Lender;
provided further that no

46

 

such agreement shall amend, modify or otherwise affect the rights or duties of the
Administrative Agent without the prior written consent of the Administrative Agent.

          (c) Notwithstanding the foregoing, this Agreement and any other Loan Document may be
amended (or amended and restated) with the written consent of the Required Lenders, the
Administrative Agent and the Borrower (x) to add one or more credit facilities to this Agreement
and to permit extensions of credit from time to time outstanding thereunder and the accrued
interest and fees in respect thereof to share ratably in the benefits of this Agreement and the
other Loan Documents with the Revolving Loans, the Term Loans and the accrued interest and fees
in respect thereof and (y) to include appropriately the Lenders holding such credit facilities
in any determination of the Required Lenders and Lenders.

          (d) Notwithstanding anything to the contrary herein the Administrative Agent may, with the
consent of the Borrower only, amend, modify or supplement this Agreement or any of the other
Loan Documents to cure any ambiguity, omission, mistake, defect or inconsistency.

          SECTION 9.03. Expenses; Indemnity; Damage Waiver. (a) The Borrower shall pay (i) all
reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates,
including the reasonable fees, charges and disbursements of counsel for the Administrative Agent,
in connection with the syndication and distribution (including, without limitation, via the
internet or through a service such as Intralinks) of the credit facilities provided for herein, the
preparation and administration of this Agreement and the other Loan Documents or any amendments,
modifications or waivers of the provisions hereof or thereof (whether or not the transactions
contemplated hereby or thereby shall be consummated); including, without limitation, the fees and
expenses charged by the rating agencies, (ii) if the Administrative Agent elects to have the credit
facilities provided for herein rated, all out-of-pocket expenses incurred by the Administrative
Agent and its Affiliates in connection with obtaining and maintaining such rating, including the
fees and charges of the rating agencies, and (iii) all out-of-pocket expenses incurred by the
Administrative Agent or any Lender, including the fees, charges and disbursements of any counsel
for the Administrative Agent or any Lender, in connection with the enforcement or protection of its
rights in connection with this Agreement and any other Loan Document, including its rights under
this Section, or in connection with the Loans made hereunder, including all such out-of-pocket
expenses incurred during any workout, restructuring or negotiations in respect of such Loans.

          (b) The Borrower shall indemnify the Administrative Agent and each Lender, and each Related
Party of any of the foregoing Persons (each such Person being called an “Indemnitee”)
against, and hold each Indemnitee harmless from, any and all losses, claims, damages,
liabilities and related expenses, including the fees, charges and disbursements of any counsel
for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection
with, or as a result of (i) the execution or delivery of any Loan Document or any agreement or
instrument contemplated thereby, the performance by the parties hereto of their respective
obligations thereunder or the consummation of the Transactions or any other transactions
contemplated hereby, (ii) any Loan or the use of the proceeds therefrom, (iii) any actual or
alleged presence or release of Hazardous Materials on or from any property owned or operated by
the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to
the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation,
investigation or proceeding relating to any of the foregoing, whether based on contract, tort or
any other theory, whether brought by a third party or by the Borrower or any of its
Subsidiaries, and regardless of whether any Indemnitee is a party thereto; provided that
such indemnity shall not, as to any Indemnitee, be available to the extent that such losses,
claims, damages, liabilities or related expenses are determined by a court of competent
jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or
willful

47

 

misconduct of such Indemnitee. This Section 9.03(b) shall not apply with respect
to Taxes other than any Taxes that represent losses or damages arising from any non-Tax claim.

          (c) To the extent that the Borrower fails to pay any amount required to be paid by it to the
Administrative Agent under paragraph (a) or (b) of this Section, each Lender
severally agrees to pay to the Administrative Agent such Lender’s Applicable Percentage (determined
as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such
unpaid amount (it being understood that the Borrower’s failure to pay any such amount shall not
relieve the Borrower of any default in the payment thereof); provided that the unreimbursed
expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was
incurred by or asserted against the Administrative Agent in its capacity as such.

          (d) To the extent permitted by applicable law, the Borrower shall not assert, and hereby
waives, any claim against any Indemnitee (i) for any damages arising from the use by others of
information or other materials obtained through telecommunications, electronic or other information
transmission systems (including the Internet), or (ii) on any theory of liability, for special,
indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out
of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement
or instrument contemplated hereby or thereby, the Transactions, any Loan or the use of the proceeds
thereof.

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

          SECTION 9.04. Successors and Assigns. (a) The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby, except that (i) the Borrower may not assign or otherwise transfer any of
its rights or obligations hereunder without the prior written consent of each Lender (and any
attempted assignment or transfer by the Borrower without such consent 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 paragraph (c) of this Section) and, to the extent
expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the
Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

          (b) Any Lender may assign to one or more assignees all or a portion of its rights and
obligations under this Agreement (including all or a portion of its Commitments and the Loans at
the time owing to it) with the prior written consent (such consent not to be unreasonably withheld
or delayed) of the Administrative Agent and the Borrower (provided that the Borrower shall
be deemed to have consented to any such assignment unless it shall object thereto by written notice
to the Administrative Agent within five (5) Business Days after having received notice thereof);
provided, further, that no consent of the Borrower shall be required for an
assignment to a Lender, an Approved Fund, any other Affiliate of a Lender or, if an Event of
Default has occurred and is continuing, any other assignee.

          (c) Subject to acceptance and recording thereof pursuant to this Section, from and after the
effective date specified in each Assignment and Assumption the assignee thereunder shall be a party
hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the
rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall,
to the extent of the interest assigned by such Assignment and Assumption, be released from its
obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of
the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a
party hereto but shall continue to be entitled to the benefits of Sections 2.10,
2.11 and 9.03). Any assignment or transfer by a

48

 

Lender of rights or obligations under this Agreement that does not comply with this
Section 9.04 shall be treated for purposes of this Agreement as a sale by such Lender of a
participation in such rights and obligations in accordance with paragraph (f) of this
Section.

          (d) The Administrative Agent, acting for this purpose as an agent of the Borrower, shall
maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a
register for the recordation of the names and addresses of the Lenders, and the Commitment of, and
principal amount of the Loans owing to, each Lender pursuant to the terms hereof from time to time
(the “Register”). The entries in the Register shall be conclusive absent demonstrable
error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose
name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all
purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be
available for inspection by the Borrower and any Lender, at any reasonable time and from time to
time upon reasonable prior notice.

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

          (f) Any Lender may, without the consent of the Borrower or the Administrative Agent, sell
participations to one or more banks or other entities (a “Participant”) in all or a portion
of such Lender’s rights and obligations under this Agreement (including all or a portion of its
Commitment and the Loans owing to it); provided that (A) such Lender’s obligations under
this Agreement shall remain unchanged; (B) such Lender shall remain solely responsible to the other
parties hereto for the performance of such obligations; and (C) the Borrower, 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. Each Lender that sells a participation shall, acting
solely for this purpose as an agent of the Borrower, maintain a register on which it enters the
name and address of each Participant and the principal amounts (and stated interest) of each
Participant’s interest in the Loans or other obligations under this Agreement (the “Participant
Register”); provided that no Lender shall have any obligation to disclose all or any
portion of the Participant Register to any Person (including the identity of any Participant or any
information relating to a Participant’s interest in any Commitments, Loans or its other obligations
under any Loan Document) other than the Borrower except to the extent that such disclosure is
necessary to establish that such Commitment, Loan or other obligation is in registered form under
Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant
Register shall be conclusive absent demonstrable error, and such Lender shall treat each person
whose name is recorded in the Participant Register as the owner of such participation for all
purposes of this Agreement notwithstanding any notice to the contrary.

          (g) Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement to secure obligations of such Lender, including without limitation
any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall
not apply to any such pledge or assignment of a security interest; provided that no such
pledge or assignment of a

49

 

security interest shall release a Lender from any of its obligations hereunder or substitute
any such pledgee or assignee for such Lender as a party hereto.

          SECTION 9.05. Survival. All covenants, agreements, representations and warranties
made by the Borrower in the Loan Documents and in the certificates or other instruments delivered
in connection with or pursuant to this Agreement or any other Loan Document shall be considered to
have been relied upon by the other parties hereto and shall survive the execution and delivery of
the Loan Documents and the making of any Loans, regardless of any investigation made by any such
other party or on its behalf and notwithstanding that the Administrative Agent or any Lender may
have had notice or knowledge of any Default or incorrect representation or warranty at the time any
credit is extended hereunder, and shall continue in full force and effect as long as the principal
of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement
or any other Loan Document is outstanding and unpaid and so long as the Commitments have not
expired or terminated. The provisions of Sections 2.10, 2.11 and 9.03 and
Article VIII shall survive and remain in full force and effect regardless of the
consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or
termination of the Commitments or the termination of this Agreement or any other Loan Document or
any provision hereof or thereof.

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

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

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

          SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This
Agreement shall be construed in accordance with and governed by the law of the State of New York.

50

 

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

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

          (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 9.01. Nothing in this Agreement or any other Loan Document
will affect the right of any party to this Agreement to serve process in any other manner permitted
by law.

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

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

          SECTION 9.12. Confidentiality. Each of the Administrative Agent and the Lenders
agrees to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and
agents, including accountants, legal counsel and other advisors (it being understood that the
Persons to whom such disclosure is made will be informed of the confidential nature of such
Information and instructed to keep such Information confidential), (b) to the extent requested 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 to this Agreement, (e) in connection with
the exercise of any remedies under this Agreement or any other Loan

51

 

Document or any suit, action or proceeding relating to this Agreement or any other Loan
Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement
containing provisions substantially the same as those of this Section, to (i) any assignee of or
Participant in, or any prospective assignee of or Participant in, any of its rights or obligations
under this Agreement or (ii)any actual or prospective counterparty (or its advisors) to any swap or
derivative transaction relating to the Borrower and its obligations, (g) with the consent of the
Borrower or (h) to the extent such Information (i) becomes publicly available other than as a
result of a breach of this Section or (ii) becomes available to the Administrative Agent or any
Lender on a nonconfidential basis from a source other than the Borrower. For the purposes of this
Section, “Information” means all information received from the Borrower relating to the Borrower or
its business, other than any such information that is available to the Administrative Agent or any
Lender on a nonconfidential basis prior to disclosure by the Borrower; provided that, in
the case of information received from the Borrower after the date hereof, such information is
clearly identified at the time of delivery as confidential. Any Person required to maintain the
confidentiality of Information as provided in this Section shall be considered to have complied
with its obligation to do so if such Person has exercised the same degree of care to maintain the
confidentiality of such Information as such Person would accord to its own confidential
information.

          SECTION 9.13. Intentionally Omitted.

          SECTION 9.14. USA PATRIOT Act. Each Lender that is subject to the requirements of the
USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”) hereby
notifies the Borrower that pursuant to the requirements of the Act, it is required to obtain,
verify and record information that identifies the Borrower, which information includes the name and
address of the Borrower and other information that will allow such Lender to identify the Borrower
in accordance with the Act.

          SECTION 9.15. Interest Rate Limitation. Notwithstanding anything herein to the
contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges
and other amounts which are treated as interest on such Loan under applicable law (collectively the
“Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be
contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance
with applicable law, the rate of interest payable in respect of such Loan hereunder, together with
all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent
lawful, the interest and Charges that would have been payable in respect of such Loan but were not
payable as a result of the operation of this Section shall be cumulated and the interest and
Charges payable to such Lender in respect of other Loans or periods shall be increased (but not
above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the
Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender.

          SECTION 9.16. No Advisory or Fiduciary Responsibility. In connection with all aspects
of each transaction contemplated hereby (including in connection with any amendment, waiver or
other modification hereof or of any other Loan Document), the Borrower acknowledges and agrees
that: (i) (A) the arranging and other services regarding this Agreement provided by the Lenders are
arm’s-length commercial transactions between the Borrower and its Affiliates, on the one hand, and
the Lenders, on the other hand, (B) the Borrower has consulted its own legal, accounting,
regulatory and tax advisors to the extent it has deemed appropriate, and (C) the Borrower is
capable of evaluating, and understands and accepts, the terms, risks and conditions of the
transactions contemplated hereby and by the other Loan Documents; (ii) (A) each of the Lenders is
and has been acting solely as a principal and, except as expressly agreed in writing by the
relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary
for the Borrower or any of its Affiliates, or any other Person and (B) no Lender has any obligation
to the Borrower or any of its Affiliates with respect to the transactions contemplated

52

 

hereby except those obligations expressly set forth herein and in the other Loan Documents;
and (iii) each of the Lenders and their respective Affiliates may be engaged in a broad range of
transactions that involve interests that differ from those of the Borrower and its Affiliates, and
no Lender has any obligation to disclose any of such interests to the Borrower or its Affiliates.
To the fullest extent permitted by law, the Borrower hereby waives and releases any claims that it
may have against each of the Lenders with respect to any breach or alleged breach of agency or
fiduciary duty in connection with any aspect of any transaction contemplated hereby.

[Signature Pages Follow]

53

 

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

	 	 	 	 	 
	 	TEMPUS ACQUISITION, LLC, as the Borrower

 	 
	 	By:  	/s/ Yanna Huang
 	 
	 	 	Name:  	Yanna Huang 	 
	 	 	Title:  	Treasurer 	 
	 

Signature Page to

Credit Agreement

(Tempus Acquisition, LLC)

 

 

	 	 	 	 	 
	 	GUGGENHEIM CORPORATE FUNDING, 

LLC, as Administrative Agent

 	 
	 	By:  	/s/ William Hagner
 	 
	 	 	Name:  	William Hagner 	 
	 	 	Title:  	Senior Managing Director 	 
	 

Signature Page to

Credit Agreement

(Tempus Acquisition, LLC)

 

 

	 	 	 	 	 	 	 

	 	 	MIDLAND NATIONAL LIFE INSURANCE	 	 
	 	 	COMPANY, as a Lender	 	 
	 
	 	 	 	 	 	 
	 	 	By: Guggenheim Partners Asset Management,	 	 
	 	 	LLC, as agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Damaso
 

	 	 
	 

	 	 	 	Name: Michael Damaso

Title: Senior Managing Director	 	 

Signature Page to

Credit Agreement

(Tempus Acquisition, LLC)

 

 

	 	 	 	 	 	 	 

	 	 	NORTH AMERICAN COMPANY FOR LIFE	 	 
	 	 	AND HEALTH INSURANCE, as a Lender	 	 
	 
	 	 	 	 	 	 
	 	 	By: Guggenheim Partners Asset Management,	 	 
	 	 	LLC, as agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Damaso
 

	 	 
	 	 	Name: Michael Damaso	 	 
	 	 	Title: Senior Managing Director	 	 

Signature Page to

Credit Agreement

(Tempus Acquisition, LLC)

 

 

	 	 	 	 	 	 	 

	 	 	GUGGENHEIM LIFE AND ANNUITY	 	 
	 	 	COMPANY, as a Lender	 	 
	 
	 	 	 	 	 	 
	 	 	By: Guggenheim Partners Asset Management,	 	 
	 	 	LLC, as agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Damaso
 

	 	 
	 	 	Name: Michael Damaso	 	 
	 	 	Title: Senior Managing Director	 	 

Signature Page to

Credit Agreement

(Tempus Acquisition, LLC)

 

 

	 	 	 	 	 	 	 

	 	 	SECURITY BENEFIT LIFE INSURANCE	 	 
	 	 	COMPANY, as a Lender	 	 
	 
	 	 	 	 	 	 
	 	 	By: Guggenheim Partners Asset Management,	 	 
	 	 	LLC, as agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Damaso
 

	 	 
	 	 	Name: Michael Damaso	 	 
	 	 	Title: Senior Managing Director	 	 

Signature Page to

Credit Agreement

(Tempus Acquisition, LLC)

 

 

	 	 	 	 	 	 	 

	 	 	WAKE FOREST UNIVERSITY, as a Lender	 	 
	 
	 	 	 	 	 	 
	 	 	By: Guggenheim Partners Asset Management,	 	 
	 	 	LLC, as agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Damaso
 

	 	 
	 	 	Name: Michael Damaso	 	 
	 	 	Title: Senior Managing Director	 	 

Signature Page to

Credit Agreement

(Tempus Acquisition, LLC)

 

 

	 	 	 	 	 	 	 

	 	 	ORPHEUS HOLDINGS LLC, as a Lender	 	 
	 
	 	 	 	 	 	 
	 	 	By: Guggenheim Partners Asset Management,	 	 
	 	 	LLC, as agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Damaso
 

	 	 
	 	 	Name: Michael Damaso	 	 
	 	 	Title: Senior Managing Director	 	 

Signature Page to

Credit Agreement

(Tempus Acquisition, LLC)

 

 

	 	 	 	 	 	 	 

	 	 	NZC GUGGENHEIM FUND LLC, as a Lender	 	 
	 
	 	 	 	 	 	 
	 	 	By: Guggenheim Partners Asset Management,	 	 
	 	 	LLC, as agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael Damaso
 

	 	 
	 	 	Name: Michael Damaso	 	 
	 	 	Title: Senior Managing Director	 	 

Signature Page to

Credit Agreement

(Tempus Acquisition, LLC)

 

 

	 	 	 	 	 	 	 

	 	 	SILVER ROCK FINANCIAL LLC, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ralph Finerman
 

	 	 
	 	 	Name: Ralph Finerman	 	 
	 	 	Title: Manager	 	 

Signature Page to

Credit Agreement

(Tempus Acquisition, LLC)

 

 

	 	 	 	 	 	 	 

	 	 	BDIF LLC, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ralph Finerman
 

	 	 
	 	 	Name: Ralph Finerman	 	 
	 	 	Title: Manager	 	 

Signature Page to

Credit Agreement

(Tempus Acquisition, LLC)

 

 

SCHEDULE 2.01

LENDERS; COMMITMENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	TRANCHE A	 	TRANCHE B
	 	 	REVOLVING	 	TERM LOAN	 	TERM LOAN
	LENDER	 	COMMITMENT	 	COMMITMENT	 	COMMITMENT
	Midland National Life
Insurance Company
	 	$	2,200,000	 	 	$	917,553.10	 	 	$	3,466,008.55	 
	North American Company for
Life and Health Insurance
	 	$	1,100,000	 	 	$	573,470.69	 	 	$	2,166,255.34	 
	Guggenheim Life and Annuity
Company
	 	$	1,100,000	 	 	$	286,735.34	 	 	$	1,083,127.67	 
	Security Benefit Life
Insurance Company
	 	$	1,100,000	 	 	$	286,735.34	 	 	$	1,083,127.67	 
	Wake Forest University
	 	$	0	 	 	$	28,673.53	 	 	$	108,312.77	 
	Orpheus Holdings LLC
	 	$	0	 	 	$	2,093,168.00	 	 	$	7,906,832.00	 
	NZC Guggenheim Fund LLC
	 	$	0	 	 	$	2,093,168.00	 	 	$	7,906,832.00	 
	Silver Rock Financial LLC
	 	$	0	 	 	$	586,104.96	 	 	$	2,213,980.63	 
	BDIF LLC
	 	$	0	 	 	$	586,104.96	 	 	$	2,213,980.63	 
	 
	AGGREGATE COMMITMENTS
	 	$	5,500,000.00	 	 	$	7,451,713.91	 	 	$	28,148,457.26	 

 

 

SCHEDULE 3.13

SUBSIDIARIES; EQUITY INTERESTS

[Please see attached]

 

 

SCHEDULE 3.13

Borrower’s Subsidiaries

 

 

SCHEDULE 3.14

DIVIDEND RESTRICTIONS

None.

 

 

SCHEDULE 6.01

LIENS

1. Liens related to the RFA Facility.

2. Liens related to the Textron Facility.

3. Liens related to that certain loan by Tempus Acquisition, LLC and Mystic Dunes, LLC,
dated as of even date herewith.

 

 

SCHEDULE 6.02

DISPOSITIONS

None.

 

 

SCHEDULE 6.04

INVESTMENTS

None.

 

 

Schedule 6.09

Restrictive Agreements

None.

 

 

EXHIBIT A

ASSIGNMENT AND ASSUMPTION

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

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

	 	 	 

	1. Assignor:

	 	                                                            
	 
	 	 
	2. Assignee:

	 	                                                            
	 
	 	 
	3. Borrower(s):

	 	                                                            
	 
	 	 
	4. Administrative Agent:

	 	Guggenheim Corporate Funding, LLC, as the administrative agent under the Credit Agreement
	 
	 	 
	5. Credit Agreement:

	 	The Credit Agreement dated as of June 30, 2011 among Tempus
Acquisition, LLC, the Lenders parties thereto, Guggenheim Corporate
Funding, LLC, as Administrative Agent, and the other agents parties
thereto

 

 

	 	 	 

	6. Assigned Interest:
	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Aggregate Amount of	 	 	Amount of	 	 	Percentage Assigned	 
	 	 	Commitment/Loans for all	 	 	Commitment/	 	 	of	 
	Facility Assigned 1	 	Lenders	 	 	Loans Assigned	 	 	Commitment/Loans2	 
	 
	 	$	 	 	 	$	 	 	 	 	%	 
	 
	 	$	 	 	 	$	 	 	 	 	%	 
	 
	 	$	 	 	 	$	 	 	 	 	%	 

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

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

	 	 	 	 	 
	 	

assignor

[name of assignor]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	ASSIGNEE

[NAME OF ASSIGNEE]

 	 
	 	By:  	 	 
	 	 	Title:        	 
	 	 	 	 
	 

 

			
	1	 	Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned
under this Assignment (e.g., “Revolving Commitment”, “Tranche A Term Loan Commitment”, “Tranche B Term
Loan Commitment”, etc.).
	 
	2	 	Set forth, so at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.

 

 

[Consented to and Accepted:

GUGGENHEIM CORPORATE FUNDING, as

Administrative Agent

	 	 	 	 	 

	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	[Consented to:	 	 
	 
	 	 	 	 
	TEMPUS ACQUISITION, LLC	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title: ]1	 	 

 

			
	1	 	To be added only if the consent of the Borrower is required by the terms of the
Credit Agreement.

 

 

ANNEX I

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

          1. Representations and Warranties.

          1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all
action necessary, to execute and deliver this Assignment and Assumption and to consummate the
transactions contemplated hereby and (iv) it [is][is not] an Affiliate of the Borrower; and (b) assumes no
responsibility with respect to (i) any statements, warranties or representations made in or in
connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral
thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or
any other Person obligated in respect of any Loan Document or (iv) the performance or observance by
the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective
obligations under any Loan Document.

          1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement
that are required to be satisfied by it in order to acquire the Assigned Interest and become a
Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the
obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together
with copies of the most recent financial statements delivered pursuant to Section 5.01
thereof, as applicable, and such other documents and information as it has deemed appropriate to
make its own credit analysis and decision to enter into this Assignment and Assumption and to
purchase the Assigned Interest on the basis of which it has made such analysis and decision
independently and without reliance on the Administrative Agent or any other Lender, (v) if it is a
Non-U.S. Lender, attached to the Assignment and Assumption is any documentation required to be
delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the
Assignee and (vi) it does not bear a relationship to the Borrower described in Section 108(e)(4)
of the Code; and (b) agrees that (i) it will, independently and without reliance on the
Administrative Agent, the Assignor or any other Lender, and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with
their terms all of the obligations which by the terms of the Loan Documents are required to be
performed by it as a Lender.

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

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

 

 

by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment
and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance
with, the law of the State of New York.

 

 

EXHIBIT
B-1

FORM OF REVOLVING LOAN NOTE

REVOLVING LOAN NOTE

[DATE]          

          FOR VALUE RECEIVED, the undersigned, TEMPUS ACQUISITION, LLC, a Delaware limited
liability company (the “Borrower”), HEREBY UNCONDITIONALLY PROMISES TO PAY to the order
of [LENDER NAME] (the “Lender”) the aggregate unpaid principal amount of all Revolving Loans made
by the Lender to the Borrower pursuant to the “Credit Agreement” (as defined below) on the
Maturity Date or on such earlier date as may be required by the terms of the Credit Agreement.
Capitalized terms used herein and not otherwise defined herein are as
defined in the Credit
Agreement.

          The undersigned Borrower promises to pay interest on the unpaid principal amount of each
Revolving Loan made to it from the date of such Revolving Loan until such principal amount is paid
in full at a rate or rates per annum determined in accordance with the terms of the Credit
Agreement. Interest hereunder is due and payable at such times and on such dates as set forth in
the Credit Agreement.

          At the time of each Revolving Loan, and upon each payment or prepayment of principal of each
Revolving Loan, the Lender shall make a notation either on the schedule attached hereto and made a
part hereof, or in such Lender’s own books and records, in each case specifying the amount of such
Revolving Loan or the amount of principal paid or prepaid with respect to such Revolving Loan, as
applicable; provided that the failure of the Lender to make any such recordation or
notation shall not affect the Obligations of the undersigned Borrower hereunder or under the
Credit Agreement.

          This Note is one of the notes referred to in, and is entitled to the benefits of, that
certain Credit Agreement dated as of June 30, 2011 by and among
the Borrower, the financial
institutions from time to time parties thereto as Lenders and Guggenheim Corporate Funding, LLC,
as Administrative Agent (as the same may be amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”). The Credit Agreement, among other things, (i)
provides for the making of Revolving Loans by the Lender to the undersigned Borrower from time to
time in an aggregate amount not to exceed at any time outstanding such Lender’s Revolving
Commitment, the indebtedness of the undersigned Borrower resulting from each such Revolving Loan
to it being evidenced by this Note, and (ii) contains provisions for acceleration of the maturity
hereof upon the happening of certain stated events and also for prepayments of the principal
hereof prior to the maturity hereof upon the terms and conditions therein specified.

          Demand, presentment, protest and notice of nonpayment and protest are hereby waived by the
Borrower. Whenever in this Note reference is made to the Administrative Agent, the Lender or the
Borrower, such reference shall be deemed to include, as applicable, a reference to their respective
successors and assigns. The provisions of this Note shall be binding upon and shall inure to the
benefit of said successors and assigns. The Borrower’s successors and assigns shall include,
without limitation, a receiver, trustee or debtor in possession of or for the Borrower.

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

 

 

	 	 	 	 	 	 	 

	 	 	TEMPUS ACQUISITION, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 	 	 

Signature Page to

Revolving Loan Note

 

 

SCHEDULE OF LOANS AND PAYMENTS OR PREPAYMENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Amount of	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Principal	 	 	Unpaid	 	 	 	 
	 	 	Amount of	 	 	 	 	 	 	Paid or	 	 	Principal	 	 	Notation	 
	Date	 	Loan	 	 	Interest Rate	 	 	Prepaid	 	 	Balance	 	 	Made By	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

 

EXHIBIT B-2

FORM OF [TRANCHE A][TRANCHE B] TERM LOAN NOTE

[TRANCHE A][TRANCHE B] TERM LOAN NOTE

[DATE]          

          FOR VALUE RECEIVED, the undersigned, TEMPUS ACQUISITION, LLC, a Delaware limited liability
company (the “Borrower”), HEREBY UNCONDITIONALLY PROMISES TO PAY to the order of [LENDER
NAME] (the “Lender”) the aggregate unpaid principal amount of all [Tranche A][Tranche B]
Term Loans made by the Lender to the Borrower pursuant to the “Credit Agreement” (as defined
below) on [INSERT FIFTH OR SECOND ANNIVERSARY OF THE EFFECTIVE DATE]4 or on such
earlier date as may be required by the terms of the Credit Agreement. Capitalized terms used
herein and not otherwise defined herein are as defined in the Credit Agreement.

          The undersigned Borrower promises to pay interest on the unpaid principal amount of each [Tranche
A][Tranche B] Term Loan made to it from the date of such [Tranche A][Tranche B] Term Loan until
such principal amount is paid in full at a rate or rates per annum determined in accordance with
the terms of the Credit Agreement. Interest hereunder is due and payable at such times and on such
dates as set forth in the Credit Agreement.

          At the time of each [Tranche A][Tranche B] Term Loan, and upon each payment or prepayment of
principal of each [Tranche A][Tranche B] Term Loan, the Lender shall make a notation either on the
schedule attached hereto and made a part hereof, or in such Lender’s own books and records, in
each case specifying the amount of such [Tranche A][Tranche B] Term Loan or the amount of
principal paid or prepaid with respect to such [Tranche A][Tranche B] Term Loan, as applicable;
provided that the failure of the Lender to make any such recordation or notation shall not
affect the Obligations of the undersigned Borrower hereunder or under the Credit Agreement.

          This Note is one of the notes referred to in, and is entitled to the benefits of, that
certain Credit Agreement dated as of June 30, 2011 by and among the Borrower, the financial
institutions from time to time parties thereto as Lenders and Guggenheim Corporate Funding, LLC,
as Administrative Agent (as the same may be amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”). The Credit Agreement, among other things, (i)
provides for the making of [Tranche A][Tranche B] Term Loans by the Lender to the undersigned
Borrower from time to time in an aggregate amount not to exceed at any time outstanding such
Lender’s [Tranche A][Tranche B] Term Loan Commitment, the indebtedness of the undersigned Borrower
resulting from each such [Tranche A][Tranche B] Term Loan to it being evidenced by this Note, and
(ii) contains provisions for acceleration of the maturity hereof upon the happening of certain
stated events and also for prepayments of the principal hereof prior to the maturity hereof upon
the terms and conditions therein specified.

          Demand, presentment, protest and notice of nonpayment and protest are hereby waived by the
Borrower. Whenever in this Note reference is made to the Administrative Agent, the Lender or the

 

			
	4	 	For Tranche A Term Loans enter the fifth anniversary of the Effective Date and for
Tranche B Term Loans enter the fourth anniversary of the Effective Date.

 

 

Borrower, such reference shall be deemed to include, as applicable, a reference to their respective
successors and assigns. The provisions of this Note shall be binding upon and shall inure to the
benefit of said successors and assigns. The Borrower’s successors and assigns shall include,
without limitation, a receiver, trustee or debtor in possession of or for the Borrower.

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

	 	 	 	 	 	 	 

	 	 	TEMPUS ACQUISITION, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 	 	 

Signature Page to

[Tranche A][Tranche B] Term Loan Note

 

 

SCHEDULE OF LOANS AND PAYMENTS OR PREPAYMENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Amount of	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Principal	 	 	Unpaid	 	 	 	 
	 	 	Amount of	 	 	 	 	 	 	Paid or	 	 	Principal	 	 	Notation	 
	Date	 	Loan	 	 	Interest Rate	 	 	Prepaid	 	 	Balance	 	 	Made By	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

 

EXHIBIT C-1

FORM OF U.S. TAX CERTIFICATE

     (For Non-U.S. Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)

     Reference is hereby made to the Credit Agreement dated as of June 30, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among
Tempus Acquisition, LLC (the “Borrower”), the Lenders party thereto and Guggenheim
Corporate Funding, LLC, as administrative agent (in such capacity, the “Administrative
Agent”).

     Pursuant to the provisions of Section 2.11 of the Credit Agreement, the undersigned
hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any
Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is
not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent
shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not
a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of
the Code and (v) the interest payments in question are not effectively connected with the
undersigned’s conduct of a U.S. trade or business.

     The undersigned has furnished the Administrative Agent and the Borrower with a certificate of
its non-U.S. person status on IRS Form W-8BEN. By executing this certificate, the undersigned
agrees that (1) if the information provided on this certificate changes, the undersigned shall
promptly so inform the Borrower and the Administrative Agent and (2) the undersigned shall have at
all times furnished the Borrower and the Administrative Agent with a properly completed and
currently effective certificate in either the calendar year in which each payment is to be made to
the undersigned, or in either of the two calendar years preceding such payments.

     Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

	 	 	 	 	 

	[NAME OF LENDER]	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

Date:                     , 20[__]

 

 

EXHIBIT C-2

FORM OF U.S. TAX CERTIFICATE

     (For Non-U.S. Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)

     Reference is hereby made to the Credit Agreement dated as of June 30, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among
Tempus Acquisition, LLC (the “Borrower”), the Lenders party thereto and Guggenheim
Corporate Funding, LLC, as administrative agent (in such capacity, the “Administrative
Agent”).

     Pursuant to the provisions of Section 2.11 of the Credit Agreement, the undersigned
hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s)
evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its
partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing
such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement,
neither the undersigned nor any of its partners/members is a bank extending credit pursuant to a
loan agreement entered into in the ordinary course of its trade or business within the meaning of
Section 881(c)(3)(A) of the Code, (iv) none of its partners/members is a ten percent shareholder of
the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (v) none of its
partners/members is a controlled foreign corporation related to the Borrower as described in
Section 881(c)(3)(C) of the Code, and (vi) the interest payments in question are not effectively
connected with the undersigned’s or its partners/members’ conduct of a U.S. trade or business.

     The undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY
accompanied by an IRS Form W-8BEN from each of its partners/members claiming the portfolio
interest exemption. By executing this certificate, the undersigned agrees that (1) if the
information provided on this certificate changes, the undersigned shall promptly so inform the
Borrower and the Administrative Agent and (2) the undersigned shall have at all times furnished
the Borrower and the Administrative Agent with a properly completed and currently effective
certificate in either the calendar year in which each payment is to be made to the undersigned, or
in either of the two calendar years preceding such payments.

     Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

	 	 	 	 	 

	[NAME OF LENDER]	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

Date:
                    ,
20[__]

 

 

EXHIBIT C-3

FORM OF U.S. TAX CERTIFICATE

(For Non-U.S. Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)

     Reference is hereby made to the Credit Agreement dated as of June 30, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among
Tempus Acquisition, LLC (the “Borrower”), the Lenders party thereto and Guggenheim
Corporate Funding, LLC, as administrative agent (in such capacity, the “Administrative
Agent”).

     Pursuant to the provisions of Section 2.11 of the Credit Agreement, the undersigned
hereby certifies that (i) it is the sole record and beneficial owner of the participation in
respect of which it is providing this certificate, (ii) it is not a bank within the meaning of
Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within
the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a controlled foreign corporation
related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (v) the interest
payments in question are not effectively connected with the undersigned’s conduct of a U.S. trade
or business.

     The undersigned has furnished its participating Lender with a certificate of its non- U.S.
person status on IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if
the information provided on this certificate changes, the undersigned shall promptly so inform such
Lender in writing and (2) the undersigned shall have at all times furnished such Lender with a
properly completed and currently effective certificate in either the calendar year in which each
payment is to be made to the undersigned, or in either of the two calendar years preceding such
payments.

     Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

	 	 	 	 	 

	[NAME OF LENDER]	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

Date:                                                  , 20[__]

 

 

EXHIBIT C-4

FORM OF U.S. TAX CERTIFICATE

(For Non-U.S. Participants That Are Partnerships For U.S. Federal Income Tax Purposes)

     Reference is hereby made to the Credit Agreement dated as of June 30, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among
Tempus Acquisition, LLC (the “Borrower”), the Lenders party thereto and Guggenheim
Corporate Funding, LLC, as administrative agent (in such capacity, the “Administrative
Agent”).

     Pursuant to the provisions of Section 2.11 of the Credit Agreement, the undersigned
hereby certifies that (i) it is the sole record owner of the participation in respect of which it
is providing this certificate, (ii) its partners/members are the sole beneficial owners of such
participation, (iii) with respect such participation, neither the undersigned nor any of its
partners/members is a bank extending credit pursuant to a loan agreement entered into in the
ordinary course of its trade or business within the meaning of
Section 881(c)(3)(A) of the Code,
(iv) none of its partners/members is a ten percent shareholder of the Borrower within the meaning of
Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign
corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) the
interest payments in question are not effectively connected with the undersigned’s or its
partners/members’ conduct of a U.S. trade or business.

     The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by an
IRS Form W-8BEN from each of its partners/members claiming the portfolio interest exemption. By
executing this certificate, the undersigned agrees that (1) if the information provided on this
certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned
shall have at all times furnished such Lender with a properly completed and currently effective
certificate in either the calendar year in which each payment is to be made to the undersigned, or
in either of the two calendar years preceding such payments.

     Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

	 	 	 	 	 

	[NAME OF PARTICIPANT]	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

Date:                                                  , 20[__]

 

 

EXHIBIT D

LIST OF CLOSING DOCUMENTS

TEMPUS ACQUISITION, LLC

CREDIT FACILITIES

June 30, 2011

LIST OF CLOSING DOCUMENTS1

A. LOAN DOCUMENTS

	1.	 	Credit Agreement (the “Credit Agreement”) by and among Tempus Acquisition, LLC, a
Delaware limited liability company (the “Borrower”), the institutions from time to
time parties thereto as Lenders (the “Lenders”) and Guggenheim Corporate Funding,
LLC, in its capacity as Administrative Agent for itself and the other Lenders (the
“Administrative Agent”), evidencing a revolving credit facility to the Borrower from
the Lenders in an initial aggregate principal amount of $5,500,000 and term loan facilities
to the Borrower from the Lenders in an initial aggregate principal amount of $36,500,000.

SCHEDULES

	 	 	 	 	 

	Schedule 2.01

	 	-
	 	Commitments
	Schedule 3.14

	 	-
	 	Dividend Restrictions
	Schedule 6.01

	 	-
	 	Liens
	Schedule 6.02

	 	-
	 	Dispositions
	Schedule 6.03

	 	-
	 	Investments
	Schedule 6.08

	 	-
	 	Restriction Agreements

EXHIBITS

	 	 	 	 	 

	Exhibit A

	 	-
	 	Form of Assignment and Assumption
	Exhibit B-1

	 	-
	 	Form of Revolving Loan Note
	Exhibit B-2

	 	-
	 	Form of Term Loan Note
	Exhibit C-1

	 	-
	 	Form of U.S. Tax Certificate (Non-U.S. Lenders That Are Not Partnerships)
	Exhibit C-2

	 	-
	 	Form of U.S. Tax Certificate (Non-U.S. Lenders That Are Partnerships)

 

			
	1	 	Each capitalized term used herein and not defined herein shall have the meaning
assigned to such term in the above-defined Credit Agreement. Items appearing in bold and italics
shall be prepared and/or provided by the Borrower and/or Borrower’s counsel.

 

 

	 	 	 	 	 

	Exhibit C-3

	 	-
	 	Form of U.S. Tax Certificate (Non-U.S. Participants That Are Not Partnerships)
	Exhibit C-4

	 	-
	 	Form of U.S. Tax Certificate (Non-U.S. Participants That Are Partnerships)
	Exhibit D

	 	-
	 	List of Closing Documents
	Exhibit E

	 	-
	 	Material Contracts

	2.	 	Notes executed by the Borrower in favor of each of the Lenders, if any, which has
requested a note pursuant to Section 2.06(e) of the Credit Agreement.

B. CORPORATE DOCUMENTS

	3.	 	Certificate of the Secretary or an Assistant Secretary of the Borrower in his or her
capacity as such officer certifying (i) that there have been no changes in the Certificate of
Incorporation or other charter document of the Borrower, as attached thereto and as certified
as of a recent date by the Secretary of State (or analogous governmental entity) of the
Commonwealth of Pennsylvania, since the date of the certification thereof by such governmental
entity, (ii) the By-Laws, as attached thereto, of the Borrower as in effect on the date of
such certification, (iii) resolutions of the Board of Directors of the Borrower authorizing
the execution, delivery and performance of each Loan Document, and (iv) the names and true
signatures of the incumbent officers of the Borrower authorized to sign the Loan Documents and
authorized to request a Borrowing under the Credit Agreement.
	 
	4.	 	Certificate of good standing for the Borrower from the Secretary of State of the State of
Delaware.

C. OPINION

	5.	 	Opinion of Katten Muchin Rosenman LLP, counsel for the Borrower.

D. CLOSING CERTIFICATES AND MISCELLANEOUS

	6.	 	A Certificate signed by the President, a Vice President or a Financial Officer of the
Borrower in his or her capacity as such officer certifying the following: (i) all of the
representations and warranties of the Borrower set forth in the Credit Agreement are true and
correct and (ii) no Default or Event of Default has occurred and is then continuing.
	 
	7.	 	True and correct executed copies (which may be in .pdf format) of (i) Payoff documentation
providing evidence satisfactory to the Administrative Agent that the Borrower’s current credit
facility has been terminated and cancelled (along with all of the agreements, documents and
instruments delivered in connection therewith) and all

 

 

Indebtedness owing thereunder has been repaid or is being repaid with the proceeds of indebtedness
under the Agreement and any and all liens thereunder have been or are simultaneously being
terminated and (ii) the acquisition documentation (including the Plan of Reorganization, Disclosure
Schedule and all exhibits, schedules, appendices and attachments
thereto, each, in form and
substance satisfactory to the Administrative Agent.

 

 

Exhibit E 

Material Contracts

     1. Master Deed for Dunes Village Property Regime creating the condominium estate,
recorded on Oct. 16, 2007 in Deed Book 3284 at page 2688, as amended by Second Amendment recorded
June 23, 2008 in Deed Book 3344 at page 2790, records of Horry County.

     2. Declaration of Fractional Vacation Ownership Plan for Dunes Village Resort, recorded
January 15, 2009, in the Office of the Register of Deeds for Horry County in Deed Book 3382, at
Page 1465, re-recorded on January 21, 2009, and First Amendment recorded in Deed Book 3435 at page
17.

     3. Bylaws of Dunes Village Vacation Owners Association, Inc. adopted October 8, 2009.

     4. Fractional Management Contract between Dunes Village Vacation Owners Association, Inc.
and Tempus Resort Management, Ltd., dated January 16, 2009.

     5. Management Subcontract between Tempus Resorts Management Ltd. and Pan American Vacations
Management, LLC, dated June 20, 2008.

     6. Limited License Agreement between Backstage Myrtle Beach, LLC and Pan American
Vacations Management, LLC, dated June 20, 2008.

     7. Declaration of Condominium of The Palms Country Club and Resort, a Condominium, recorded
in Official Records Book 1545, Page 2911, as amended in Official Records Book 1545, Page 2979,
Official Records Book 1642, Page 45, Official Records Book 1642, Page 55, Official Records Book
1677, Page 1904, Official Records Book 1677, Page 1915, Official Records Book 1691, Page 1900,
Official Records Book 1696, Page 1977, Official Records Book 1698, Page 346, Official Records Book
1814, Page 1666, Official Records Book 1814, Page 1677, Official Records Book 1889, Page 963,
Official Records Book 1889, Page 982, Official Records Book 2009, Page 1787, Official Records Book
2012, Page 2947, Official Records Book 2059, Page 2191, Official Records Book 2072, Page 1711,
Official Records Book 2254, Page 2557, Official Records Book 2254, Page 2569, Official Records Book
2294, Page 2887, Official Records Book 2362, Page 2032, Official Records Book 2523, Page 979,
Official Records Book 2837, Page 2350, Official Records Book 2837, Page 2498, Official Records Book
3632, Page 1643 and Official Records Book 3911, Page 256.

     8. Master Declaration of Covenants, Conditions and Restrictions recorded in Official Records
Book 1447, Page 2515 which was re-recorded in Official Records Book 1477, Page 1958, as affected by
Assignment of Declarant’s Rights Under Master Declaration of Covenants, Conditions and
Restrictions recorded in Official Records Book 1521, Page 1067 and supplemented in Official
Records Book 1980, Page 2569.

2

 

Material Vendor Contracts

	9.	 	Alliance Quality Service, Inc. — cleaning services at resort
	 
	10.	 	AON Risk Services Inc. — Insurance
	 
	11.	 	Cigna — Health and dental insurance
	 
	12.	 	Dade Paper Company — Paper and cleaning supplies
	 
	13.	 	Interactive Intelligence Inc. — Phone system maintenance
	 
	14.	 	International Golf Maintenance Inc. — Golf course maintenance
	 
	15.	 	John Hancock USA — 401(k) contributions
	 
	16.	 	Patsy Heffner, Tax Collector — Taxes
	 
	17.	 	Progress Energy Florida Inc. — Utilities
	 
	18.	 	Rosen Vista, Inc. — Marketing location rent
	 
	19.	 	Sand Lake West Business Park Inc — Carrier and SLW rents
	 
	20.	 	Sea World of Florida, Inc. — Attraction tickets
	 
	21.	 	Toho Water Authority — Reclaimed water
	 
	22.	 	Universal Orlando — Attraction tickets
	 
	23.	 	Universal Orlando Resort — Marketing location rent
	 
	24.	 	Walt Disney Attractions Inc. — Attraction tickets

3

 

EXHIBIT F

STATEMENT OF CASH FLOWS

[Deliberately Omitted — On file with Administrative Agent]exv10w1

Exhibit 10.1

QUALITY SYSTEMS, INC.

OUTSIDE DIRECTOR’S

RESTRICTED STOCK UNIT AGREEMENT

GRANTED UNDER THE QUALITY SYSTEMS, INC.

SECOND AMENDED AND RESTATED 2005 STOCK OPTION AND INCENTIVE PLAN

     THIS OUTSIDE DIRECTOR’S RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”), dated and
effective as of August 11, 2011 (the “Grant Date”), by and between Quality Systems, Inc., a
California corporation (the “Company”), and [__________] (“Grantee”), is entered
into as follows:

     WHEREAS, Grantee is an outside director of the Company; and

     WHEREAS, the Company has established the Quality Systems, Inc. Second Amended and Restated
2005 Stock Option and Incentive Plan (the “Plan”), a copy of which has previously been
provided to Grantee; and

     WHEREAS, the Compensation Committee (the “Committee”) of the Board of Directors of the
Company has established a compensation program (the “Program”) for the outside directors of
the Company that includes the grant of restricted stock units evidencing the right to receive an
equal number of shares in the Company’s common stock (“Common Stock”); and

     WHEREAS, under the terms of the Program, Grantee shall be granted restricted stock units
pursuant to this Agreement and subject to the restrictions stated below.

     NOW, THEREFORE, the parties hereby agree as follows:

     1. Grant of Restricted Stock Units. Subject to the terms and conditions of this
Agreement and the Plan, the Company hereby grants to Grantee [_________] restricted stock units
(“Restricted Stock Units”) evidencing the equivalent number of shares of Common Stock. As
used herein, a “Restricted Stock Unit” is a non-voting unit of measurement which is deemed for
bookkeeping purposes to be equivalent in value to one outstanding share of Common Stock of the
Company. The Restricted Stock Units shall be used solely as a device for the determination of any
payment to eventually be made to the Grantee if and when such Restricted Stock Units vest and
become earned pursuant to Section 2 below. The Restricted Stock Units create no fiduciary
duty to the Grantee and shall create only a contractual obligation on the part of the Company to
make payments, subject to vesting and the other terms and conditions hereof. The Restricted Stock
Units shall not be treated as property or as a trust fund of any kind. No assets have been secured
or set aside by the Company with respect to this grant and, if amounts become payable to the
Grantee pursuant to this Agreement, the Grantee’s rights with respect to such amounts shall be no
greater than the rights of any general unsecured creditor of the Company.

     2. Vesting Schedule. The Restricted Stock Units shall vest in two equal annual
installments, each on the next two annual meetings of shareholders (and each referred to
herein as a “Vesting Date”) subject to earlier vesting as set forth in Section 3,
below. Payment of vested Restricted Stock Units shall be made as soon as administratively
practicable after vesting. Settlement will be made by payment in shares of Common Stock in
accordance with the Plan. Restricted Stock Units that are earned and vested pursuant to this
Agreement shall be paid in an equivalent number of whole shares of Common Stock (with any
fractional Restricted Stock Units credited in respect of the Restricted Stock Units that are paid
rounded down to the nearest whole number of shares of Common Stock).

-1-

 

     3. Restrictions. No portion of the Restricted Stock Units, the shares issued pursuant
to the Restricted Stock Units, or rights granted hereunder may be sold, transferred, assigned,
pledged or otherwise encumbered or disposed of by Grantee during the period beginning on the
Vesting Date of that portion of the Restricted Stock Units and ending the day prior to the one year
anniversary of the Vesting Date of that portion of the Restricted Stock Units. In the event of a
meeting of shareholders immediately following which a director that previously received Restricted
Stock Units under the Program is no longer a member of the Company’s Board, then any unvested
Restricted Stock Units, or shares issued pursuant to the Restricted Stock Units held by such
director, and restricted by this Section 3, shall immediately vest and become
transferrable.

     4. Shareholder Rights. Until the Vesting Date, Grantee shall not have the rights of a
shareholder with respect to the Restricted Stock Units.

     5. Taxes.

     (a) Grantee hereby acknowledges that he or she has reviewed with his or her own tax
advisors the tax consequences of receiving the Restricted Stock Units. Grantee represents
to the Company that he or she is relying solely on such advisors and not on any statements
or representations of (i) the Company, (ii) its officers, directors or employees, or (iii)
its or their respective agents or representatives.

     (b) Grantee shall be liable for any and all taxes, including withholding taxes, arising
out of this grant of Restricted Stock Units. The Company shall not be required to deliver
any Restricted Stock Units or to recognize any purported transfer of the Restricted Stock
Units or its underlying shares until all applicable withholding obligations are satisfied.
Grantee is ultimately liable and responsible for all taxes owed by Grantee in connection
with the Restricted Stock Units, regardless of any action the Company takes with respect to
any tax withholding obligations that arise in connection with the Restricted Stock Units.
The Company makes no representation or undertaking regarding the treatment of any tax
withholding in connection with the grant, issuance or settlement of the Restricted Stock
Units (or its underlying shares) or the subsequent sale or transfer of any of the shares
underlying the Restricted Stock Units. The Company does not commit and is under no
obligation to structure the Restricted Stock Units award or program to reduce or eliminate
Grantee’s tax liability.

     6. Securities Law Compliance. The Company will use its reasonable commercial efforts
to assure that the shares issued pursuant to the Restricted Stock Units are registered under
federal securities laws. However, no shares underlying the Restricted Stock Units will be issued
pursuant to Grantee’s award if such issuance would otherwise constitute a violation of any
applicable federal or state securities laws or regulations or the requirements of The NASDAQ Global
Select Market or any stock exchange or other market on which the Common Stock is then quoted or
listed for trading. The inability of the Company to obtain approval from any regulatory body
deemed necessary by the Company for the lawful issuance of any shares underlying the Restricted
Stock Units hereunder shall defer the Company’s obligation with respect to the issuance of such
shares until such approval has been obtained. Grantee understands Grantee’s responsibilities to
report the grant and future disposition of the Restricted Stock Units and its underlying shares
under the applicable provisions of the Securities Exchange Act of 1934, as amended.

     7. Miscellaneous.

     (a) The grant of Restricted Stock Units or another award to Grantee under the Plan in
any one year, or at any time, does not obligate the Company to make a grant in any future
year or

-2-

 

in any given amount and should not create an expectation that the Company might make a
grant in any future year or in any given amount.

     (b) The Company shall not be required (i) to transfer on its books any shares issued
pursuant to the Restricted Stock Units that have been sold or transferred in violation of
any of the provisions set forth in this Agreement or in the Plan, or (ii) to treat as owner
of such shares or to accord the right to vote as such owner or to pay dividends to any
transferee to whom such shares shall have been so transferred.

     (c) The parties agree to execute such further instruments and to take such action as
may reasonably be necessary to carry out the intent of this Agreement.

     (d) Any notice required or permitted hereunder shall be given in writing and shall be
deemed effectively given upon delivery to Grantee at Grantee’s address then on file with the
Company.

     (e) This Agreement shall not be construed so as to grant Grantee any right to remain as
a director of or consultant to the Company.

     (f) The parties agree that neither the Company nor any of its affiliates shall have any
further obligation to Grantee relating to the grant of stock or other equity-based incentive
compensation except as stated herein and under the terms of the Program.

     (g) This Agreement and the Plan constitute the entire agreement of the parties with
respect to the subject matter hereof. This Agreement may not be amended except (i) with the
consent of the Committee and the Board; and (ii) by a written instrument duly executed by
the Company and Grantee.

     (h) This Agreement shall be binding upon and shall inure to the benefit of the parties
hereto and their permitted heirs, personal representatives, successors and assigns. The
terms of this Agreement shall in all respects be subject to the terms of the Plan and the
Program. In the event of a conflict between the terms of this Agreement and the Plan and/or
Program, the terms of the Plan and/or Program (as the case may be) shall control. In the
event of a conflict between the terms of the Plan and the Program, the terms of the Plan
shall control. In accordance with the Plan, Grantee hereby agrees to accept as binding,
conclusive and final all decisions and interpretations of the Committee or the Board of
Directors upon any questions arising under the Plan or this Agreement.

     (i) The interpretation, performance and enforcement of this Agreement shall be governed
by the laws of the State of California without resort or reference to the conflicts-of-laws
rules of that or any other state.

     (j) This Agreement shall not in any way affect the right of the Company to adjust,
reclassify, reorganize or otherwise make changes in its capital or business structure or to
merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business
or assets.

     8. Remaining Terms. The remaining terms and conditions of Grantee’s award are
governed by the Plan, and Grantee’s award is also subject to all interpretations, amendments,
rules, regulations and decisions that may from time to time be adopted under the Plan.

[signature page follows]

-3-

 

     IN WITNESS WHEREOF, the undersigned have executed this Outside Director’s Restricted Stock
Units Agreement effective as of the date first set above.

	 	 	 	 	 	 	 

	COMPANY:	 	QUALITY SYSTEMS, INC.,	 	 
	 	 	a California corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James J. Sullivan, Secretary
 

	 	 
	 	 	James J. Sullivan, Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	Address:	 	 
	 	 	18111 Von Karman Avenue, Suite 700	 	 
	 	 	Irvine, CA 92612	 	 
	 	 	Facsimile #: 949-255-2610	 	 
	 	 	Email: pholt@qsii.com (Corporate Secretary)	 	 

     I, the undersigned Grantee, hereby acknowledge and accept the foregoing terms and conditions
of the Restricted Stock award evidenced hereby. I also acknowledge and agree that the foregoing
sets forth the entire understanding between the Company and me regarding my entitlement to receive
the shares of Restricted Stock subject to such award and supersedes all prior oral and written
agreements on that subject.

	 	 	 	 	 

	GRANTEE:
	 	 	 	 
	 
	 	 	 	 
	 

	 	 

(signature of Grantee)
	 	 
	 

	 	[NAME]	 	 

-4-

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