Document:

Exhibit
10.1

 

AMENDED AND RESTATED CREDIT
AGREEMENT

Dated as of December 29,
2006

among

LPL INVESTMENT HOLDINGS INC.,

as Holdings,

LPL HOLDINGS, INC.,

as Borrower,

The Several Lenders

from Time to Time Parties Hereto,

GOLDMAN SACHS CREDIT PARTNERS
L.P.,

as Sole Lead Arranger, Sole Bookrunner and Syndication Agent,

MORGAN STANLEY SENIOR FUNDING,
INC.,

as Administrative Agent,

and

MORGAN STANLEY & CO.,

as Collateral Agent

$ 894,375,000 Senior
Secured Credit Facilities

 

TABLE OF CONTENTS

 

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
  SECTION 1.

  	
   

  	
  Definitions

  	
   

  	
  2

  
	
  1.1

  	
   

  	
  Defined Terms

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.

  	
   

  	
  Amount and Terms of Credit Facilities

  	
   

  	
  40

  
	
  2.1

  	
   

  	
  Loans

  	
   

  	
  40

  
	
  2.2

  	
   

  	
  Minimum Amount of Each Borrowing; Maximum Number of
  Borrowings

  	
   

  	
  42

  
	
  2.3

  	
   

  	
  Notice of Borrowing

  	
   

  	
  42

  
	
  2.4

  	
   

  	
  Disbursement of Funds

  	
   

  	
  43

  
	
  2.5

  	
   

  	
  Repayment of Loans; Evidence of Debt

  	
   

  	
  44

  
	
  2.6

  	
   

  	
  Conversions and Continuations

  	
   

  	
  46

  
	
  2.7

  	
   

  	
  Pro Rata Borrowings

  	
   

  	
  47

  
	
  2.8

  	
   

  	
  Interest

  	
   

  	
  47

  
	
  2.9

  	
   

  	
  Interest Periods

  	
   

  	
  48

  
	
  2.10

  	
   

  	
  Increased Costs, Illegality, etc.

  	
   

  	
  48

  
	
  2.11

  	
   

  	
  Compensation

  	
   

  	
  50

  
	
  2.12

  	
   

  	
  Change of Lending Office

  	
   

  	
  51

  
	
  2.13

  	
   

  	
  Notice of Certain Costs

  	
   

  	
  51

  
	
  2.14

  	
   

  	
  Incremental Facilities

  	
   

  	
  51

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 3.

  	
   

  	
  Letters of Credit

  	
   

  	
  53

  
	
  3.1

  	
   

  	
  Issuance of Letters of Credit

  	
   

  	
  53

  
	
  3.2

  	
   

  	
  Letter of Credit Requests

  	
   

  	
  54

  
	
  3.3

  	
   

  	
  Letter of Credit Participations

  	
   

  	
  54

  
	
  3.4

  	
   

  	
  Agreement to Repay Letter of Credit Drawings

  	
   

  	
  55

  
	
  3.5

  	
   

  	
  Increased Costs

  	
   

  	
  56

  
	
  3.6

  	
   

  	
  New or Successor Letter of Credit Issuer

  	
   

  	
  57

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 4.

  	
   

  	
  Fees; Commitment Reductions and Terminations

  	
   

  	
  58

  
	
  4.1

  	
   

  	
  Fees

  	
   

  	
  58

  
	
  4.2

  	
   

  	
  Voluntary Reduction of Commitments

  	
   

  	
  59

  
	
  4.3

  	
   

  	
  Mandatory Termination of Commitments

  	
   

  	
  60

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.

  	
   

  	
  Payments

  	
   

  	
  60

  
	
  5.1

  	
   

  	
  Voluntary Prepayments

  	
   

  	
  60

  
	
  5.2

  	
   

  	
  Mandatory Prepayments

  	
   

  	
  60

  
	
  5.3

  	
   

  	
  Method and Place of Payment

  	
   

  	
  63

  
	
  5.4

  	
   

  	
  Net Payments

  	
   

  	
  64

  
	
  5.5

  	
   

  	
  Computations of Interest and Fees

  	
   

  	
  66

  
	
  5.6

  	
   

  	
  Limit on Rate of Interest

  	
   

  	
  66

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 6.

  	
   

  	
  Conditions Precedent to Effective Date

  	
   

  	
  67

  
	
  6.1

  	
   

  	
  Credit Documents

  	
   

  	
  67

  
	
  6.2

  	
   

  	
  Collateral

  	
   

  	
  67

  

 

 i
 

 

	
  6.3

  	
   

  	
  Legal Opinions

  	
   

  	
  67

  
	
  6.4

  	
   

  	
  No Defaults; Representations and Warranties

  	
   

  	
  68

  
	
  6.5

  	
   

  	
  Consent

  	
   

  	
  68

  
	
  6.6

  	
   

  	
  Effective Date Certificates

  	
   

  	
  68

  
	
  6.7

  	
   

  	
  Corporate Proceedings

  	
   

  	
  68

  
	
  6.8

  	
   

  	
  Corporate Documents

  	
   

  	
  69

  
	
  6.9

  	
   

  	
  Fees and Expenses

  	
   

  	
  69

  
	
  6.10

  	
   

  	
  Solvency Certificate

  	
   

  	
  69

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 7.

  	
   

  	
  Additional Conditions Precedent

  	
   

  	
  69

  
	
  7.1

  	
   

  	
  No Default; Representations and Warranties

  	
   

  	
  69

  
	
  7.2

  	
   

  	
  Notice of Borrowing; Letter of Credit Request

  	
   

  	
  69

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.

  	
   

  	
  Representations, Warranties and Agreements

  	
   

  	
  70

  
	
  8.1

  	
   

  	
  Corporate Status

  	
   

  	
  70

  
	
  8.2

  	
   

  	
  Corporate Power and Authority

  	
   

  	
  70

  
	
  8.3

  	
   

  	
  No Violation

  	
   

  	
  70

  
	
  8.4

  	
   

  	
  Litigation

  	
   

  	
  71

  
	
  8.5

  	
   

  	
  Margin Regulations

  	
   

  	
  71

  
	
  8.6

  	
   

  	
  Governmental Approvals

  	
   

  	
  71

  
	
  8.7

  	
   

  	
  Investment Company Act

  	
   

  	
  71

  
	
  8.8

  	
   

  	
  True and Complete Disclosure

  	
   

  	
  71

  
	
  8.9

  	
   

  	
  Financial Condition; Financial Statements

  	
   

  	
  71

  
	
  8.10

  	
   

  	
  Tax Returns and Payments, etc

  	
   

  	
  72

  
	
  8.11

  	
   

  	
  Compliance with ERISA

  	
   

  	
  72

  
	
  8.12

  	
   

  	
  Subsidiaries

  	
   

  	
  72

  
	
  8.13

  	
   

  	
  Patents, etc.

  	
   

  	
  72

  
	
  8.14

  	
   

  	
  Environmental Laws

  	
   

  	
  73

  
	
  8.15

  	
   

  	
  Properties, Assets and Rights

  	
   

  	
  73

  
	
  8.16

  	
   

  	
  Certain Fees

  	
   

  	
  73

  
	
  8.17

  	
   

  	
  Solvency

  	
   

  	
  73

  
	
  8.18

  	
   

  	
  Capital Stock

  	
   

  	
  73

  
	
  8.19

  	
   

  	
  No Defaults

  	
   

  	
  73

  
	
  8.20

  	
   

  	
  Employee Matters

  	
   

  	
  74

  
	
  8.21

  	
   

  	
  Senior Indebtedness

  	
   

  	
  74

  
	
  8.22

  	
   

  	
  Patriot Act

  	
   

  	
  74

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 9.

  	
   

  	
  Affirmative Covenants

  	
   

  	
  74

  
	
  9.1

  	
   

  	
  Information Covenants

  	
   

  	
  74

  
	
  9.2

  	
   

  	
  Books, Records and Inspections

  	
   

  	
  77

  
	
  9.3

  	
   

  	
  Maintenance of Insurance

  	
   

  	
  78

  
	
  9.4

  	
   

  	
  Payment of Taxes

  	
   

  	
  78

  
	
  9.5

  	
   

  	
  Consolidated Corporate Franchises

  	
   

  	
  78

  
	
  9.6

  	
   

  	
  Compliance with Statutes.

  	
   

  	
  78

  
	
  9.7

  	
   

  	
  ERISA

  	
   

  	
  78

  
	
  9.8

  	
   

  	
  Good Repair

  	
   

  	
  79

  
	
  9.9

  	
   

  	
  Transactions with Affiliates

  	
   

  	
  79

  

 

 ii
 

 

	
  9.10

  	
   

  	
  End of Fiscal Years; Fiscal Quarters

  	
   

  	
  80

  
	
  9.11

  	
   

  	
  Additional Guarantors and Grantors

  	
   

  	
  80

  
	
  9.12

  	
   

  	
  Pledges of Additional Stock and Evidence of
  Indebtedness

  	
   

  	
  81

  
	
  9.13

  	
   

  	
  Changes in Business

  	
   

  	
  81

  
	
  9.14

  	
   

  	
  Further Assurances

  	
   

  	
  81

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 10.

  	
   

  	
  Negative Covenants

  	
   

  	
  82

  
	
  10.1

  	
   

  	
  Limitation on Indebtedness

  	
   

  	
  82

  
	
  10.2

  	
   

  	
  Limitation on Liens

  	
   

  	
  86

  
	
  10.3

  	
   

  	
  Limitation on Fundamental Changes

  	
   

  	
  88

  
	
  10.4

  	
   

  	
  Limitation on Sale of Assets

  	
   

  	
  89

  
	
  10.5

  	
   

  	
  Limitation on Investments

  	
   

  	
  91

  
	
  10.6

  	
   

  	
  Limitation on Dividends

  	
   

  	
  94

  
	
  10.7

  	
   

  	
  Limitations on Debt Payments and Amendments

  	
   

  	
  96

  
	
  10.8

  	
   

  	
  Limitations on Sale Leasebacks

  	
   

  	
  97

  
	
  10.9

  	
   

  	
  Consolidated Total Debt to Consolidated EBITDA Ratio

  	
   

  	
  97

  
	
  10.10

  	
   

  	
  Consolidated EBITDA to Consolidated Interest Expense
  Ratio

  	
   

  	
  98

  
	
  10.11

  	
   

  	
  [Reserved]

  	
   

  	
  99

  
	
  10.12

  	
   

  	
  Burdensome Agreements

  	
   

  	
  99

  
	
  10.13

  	
   

  	
  Permitted Activities of Holdings

  	
   

  	
  100

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 11.

  	
   

  	
  Events of Default

  	
   

  	
  100

  
	
  11.1

  	
   

  	
  Payments

  	
   

  	
  100

  
	
  11.2

  	
   

  	
  Representations, etc.

  	
   

  	
  101

  
	
  11.3

  	
   

  	
  Covenants

  	
   

  	
  101

  
	
  11.4

  	
   

  	
  Default Under Other Agreements

  	
   

  	
  101

  
	
  11.5

  	
   

  	
  Bankruptcy, etc.

  	
   

  	
  101

  
	
  11.6

  	
   

  	
  ERISA

  	
   

  	
  102

  
	
  11.7

  	
   

  	
  Guarantee

  	
   

  	
  102

  
	
  11.8

  	
   

  	
  Security Documents

  	
   

  	
  102

  
	
  11.9

  	
   

  	
  Subordination

  	
   

  	
  102

  
	
  11.10

  	
   

  	
  Judgments

  	
   

  	
  102

  
	
  11.11

  	
   

  	
  Change of Control

  	
   

  	
  103

  
	
  11.12

  	
   

  	
  Borrower’s Right to Cure

  	
   

  	
  103

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 12.

  	
   

  	
  The Administrative Agent

  	
   

  	
  104

  
	
  12.1

  	
   

  	
  Appointment

  	
   

  	
  104

  
	
  12.2

  	
   

  	
  Delegation of Duties

  	
   

  	
  104

  
	
  12.3

  	
   

  	
  Exculpatory Provisions

  	
   

  	
  104

  
	
  12.4

  	
   

  	
  Reliance by Administrative Agent

  	
   

  	
  105

  
	
  12.5

  	
   

  	
  Notice of Default

  	
   

  	
  105

  
	
  12.6

  	
   

  	
  Non-Reliance on Administrative Agent and Other
  Lenders

  	
   

  	
  105

  
	
  12.7

  	
   

  	
  Indemnification

  	
   

  	
  106

  
	
  12.8

  	
   

  	
  Administrative Agent in its Individual Capacity

  	
   

  	
  106

  
	
  12.9

  	
   

  	
  Successor Agent

  	
   

  	
  107

  
	
  12.10

  	
   

  	
  Withholding Tax

  	
   

  	
  107

  
	
  12.11

  	
   

  	
  Collateral Agent

  	
   

  	
  107

  

 

 iii
 

 

	
  SECTION 13.

  	
   

  	
  Miscellaneous

  	
   

  	
  107

  
	
  13.1

  	
   

  	
  Amendments and Waivers

  	
   

  	
  107

  
	
  13.2

  	
   

  	
  Notices

  	
   

  	
  109

  
	
  13.3

  	
   

  	
  No Waiver; Cumulative Remedies

  	
   

  	
  110

  
	
  13.4

  	
   

  	
  Survival of Representations and Warranties

  	
   

  	
  111

  
	
  13.5

  	
   

  	
  Payment of Expenses and Taxes; Indemnification

  	
   

  	
  111

  
	
  13.6

  	
   

  	
  Successors and Assigns; Participations and
  Assignments

  	
   

  	
  112

  
	
  13.7

  	
   

  	
  Replacements of Lenders under Certain Circumstances

  	
   

  	
  116

  
	
  13.8

  	
   

  	
  Adjustments; Set-off

  	
   

  	
  116

  
	
  13.9

  	
   

  	
  Counterparts

  	
   

  	
  117

  
	
  13.10

  	
   

  	
  Severability

  	
   

  	
  117

  
	
  13.11

  	
   

  	
  Integration

  	
   

  	
  117

  
	
  13.12

  	
   

  	
  GOVERNING LAW

  	
   

  	
  117

  
	
  13.13

  	
   

  	
  Submission to Jurisdiction; Waivers

  	
   

  	
  118

  
	
  13.14

  	
   

  	
  Acknowledgments

  	
   

  	
  118

  
	
  13.15

  	
   

  	
  WAIVERS OF JURY TRIAL

  	
   

  	
  118

  
	
  13.16

  	
   

  	
  Confidentiality

  	
   

  	
  119

  
	
  13.17

  	
   

  	
  USA PATRIOT Act

  	
   

  	
  119

  
	
  13.18

  	
   

  	
  Effect of Amendment and Restatement of the Original
  Credit Agreement

  	
   

  	
  119

  
	
  13.19

  	
   

  	
  Consent of Required Lenders

  	
   

  	
  120

  

 

 iv
 

SCHEDULES

	
  Schedule 1.1(a)

  	
   

  	
  Mortgaged Property

  	 

	
  Schedule 1.1(b)

  	
   

  	
  Commitments and Addresses of Lenders

  
	
  Schedule 1.1(c)

  	
   

  	
  Excluded Subsidiaries

  
	
  Schedule 8.6

  	
   

  	
  Government Approvals

  
	
  Schedule 8.12

  	
   

  	
  Subsidiaries

  
	
  Schedule 8.18

  	
   

  	
  Capital Stock

  
	
  Schedule 9.9

  	
   

  	
  Affiliate Transactions

  
	
  Schedule 10.1

  	
   

  	
  Indebtedness

  
	
  Schedule 10.2

  	
   

  	
  Liens

  
	
  Schedule 10.5

  	
   

  	
  Investments

  
	
  Schedule 10.12

  	
   

  	
  Burdensome Agreements

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  EXHIBITS

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Exhibit A

  	
   

  	
  Form of Assignment and Acceptance

  
	
  Exhibit B

  	
   

  	
  [Reserved]

  
	
  Exhibit C

  	
   

  	
  Form of Mortgage

  
	
  Exhibit D

  	
   

  	
  [Reserved]

  
	
  Exhibit E

  	
   

  	
  [Reserved]

  
	
  Exhibit F

  	
   

  	
  Form of Letter of Credit Request

  
	
  Exhibit G-1

  	
   

  	
  Form of Legal Opinion of Simpson Thacher &
  Bartlett LLP

  
	
  Exhibit G-2

  	
   

  	
  Form of Legal Opinion of Ropes & Gray LLP

  
	
  Exhibit G-3

  	
   

  	
  [Reserved]

  
	
  Exhibit G-4

  	
   

  	
  Form of Legal Opinion of Kirkpatrick & Lockhart
  Nicholson Graham LLP

  
	
  Exhibit G-5

  	
   

  	
  Form of Legal Opinion of Bingham McCutcheon LLP

  
	
  Exhibit H

  	
   

  	
  Form of Effective Date Certificate

  
	
  Exhibit I-1

  	
   

  	
  Form of Promissory Note (Tranche C Term Loans)

  
	
  Exhibit I-2

  	
   

  	
  Form of Promissory Note (New Term Loans)

  
	
  Exhibit I-3

  	
   

  	
  Form of Promissory Note (Revolving Credit and
  Swingline Loans)

  
	
  Exhibit J-1

  	
   

  	
  Form of Joinder Agreement (New Term Loans)

  
	
  Exhibit J-2

  	
   

  	
  Form of Joinder Agreement (Revolving Credit
  Increase)

  
					

 

 v

AMENDED AND RESTATED CREDIT AGREEMENT,
dated as of December 29, 2006, among LPL INVESTMENT HOLDINGS
INC., a Delaware corporation (“Holdings”), LPL HOLDINGS, INC., a Massachusetts corporation (the “Borrower”),
the lending institutions from time to time parties hereto (each a “Lender”
and, collectively, the “Lenders”), GOLDMAN SACHS CREDIT
PARTNERS L.P. (“GSCP”), as Sole Lead Arranger and Sole
Bookrunner, and Syndication Agent, MORGAN STANLEY SENIOR
FUNDING, INC. (“MSSF”), as Administrative Agent, and MORGAN STANLEY & CO. (“MS”), as Collateral Agent.

RECITALS:

WHEREAS,
capitalized terms used in these Recitals and the preamble to this Agreement
shall have the respective meanings set forth for such terms in Section 1.1
hereof;

WHEREAS, Holdings, the Borrower,
the lending institutions party thereto (the “Original Lenders”), GSCP,
as joint lead arranger, joint bookrunner and syndication agent, MSSF, as joint
lead arranger, joint bookrunner and administrative agent, MS, as collateral
agent, and Bear Stearns Corporate Lending Inc., as documentation agent, are
parties to that certain Credit Agreement, dated as of December 28, 2005 (as
heretofore amended, supplemented or otherwise modified from time to time, the “Original
Credit Agreement”), pursuant to which the Original Lenders extended or
committed to extend certain credit facilities to the Borrower;

WHEREAS, the
Obligations (as defined in the Original Credit Agreement, hereinafter the “Original
Obligations”) of the Borrower and the other Credit Parties under the Original
Credit Agreement and the other Credit Documents (as defined in the Original
Credit Agreement, hereinafter the “Original Credit Documents”) are
secured by the Collateral (as defined in the Original Credit Agreement,
hereinafter the “Original Collateral”) and are guaranteed or supported
or otherwise benefited by the Original Credit Documents;

WHEREAS, immediately
prior to the Effective Date, term loans in the aggregate principal amount of
$744,375,000 were outstanding under the Original Credit Agreement (the “Original
Term Loans”); and

WHEREAS, the
Borrower desires to amend and restate the Original Credit Agreement in its
entirety to, among other things, provide for (a) new senior secured term loans
to the Borrower in an aggregate principal amount of $794,375,000, which shall
be used to repay in full the Original Term Loans, any accrued but unpaid
interest thereon and any other amounts owing under the Original Credit
Agreement in respect of the Original Term Loans, and pay fees and expenses in
connection herewith and therewith (the “Refinancing”) and to pay a
portion of the consideration for the UVEST Acquisition and (b) certain other
amendments to the Original Credit Agreement to be made; and

WHEREAS, the Borrower has
requested that the Original Lenders amend and restate the Original Credit
Agreement, in its entirety, and that the Lenders make available the Tranche C
Term Loans and other extensions of credit to the Borrower, in each case, as set
forth in this Agreement; and

   
 

WHEREAS, the parties hereto intend
that (a) the Original Obligations which remain unpaid and outstanding as of the
Effective Date shall continue to exist under this Agreement on the terms set
forth herein and (b) the Original Collateral shall continue to secure, support
and otherwise benefit the Original Obligations as well as the other Obligations
of the Credit Parties under this Agreement and the other Credit Documents
hereunder; and

WHEREAS, the Lenders are willing
to provide the Tranche C Term Loans and other extensions of credit, and the
Original Lenders are willing to amend and restate the Original Credit
Agreement, in each case, subject to the terms and conditions of this Agreement.

AGREEMENT:

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

SECTION 1.                                Definitions

1.1                                 Defined Terms.  (a)  As used herein, the following terms
shall have the meanings specified in this Section 1.1 unless the context
otherwise requires (it being understood that defined terms in this Agreement
shall include in the singular number the plural and in the plural the
singular):

“ABR” shall mean, for any day, a rate per annum
(rounded upwards, if necessary, to the next 1/16 of 1%) equal to the greater of
(a) the Prime Rate in effect on such day and (b) the Federal Funds
Effective Rate in effect on such day plus 1⁄2 of 1%.  Any change in the ABR due to a change in the
Prime Rate or the Federal Funds Effective Rate shall be effective as of the
opening of business on the effective day of such change in the Prime Rate or
the Federal Funds Effective Rate, respectively.

“ABR Loan” shall mean each Loan bearing
interest at the rate provided in Section 2.8 and, in any event, shall
include all Swingline Loans.

“Acceptable Reinvestment Commitment” shall mean
a binding commitment of the Borrower or any Restricted Subsidiary entered into
at any time prior to the end of the Reinvestment Period to reinvest proceeds of
an Asset Sale Prepayment Event, Permitted Sale Leaseback or Recovery Prepayment
Event; provided, that such reinvestment is made within 180 days after
the date on which such commitment is entered into by the Borrower or such
Restricted Subsidiary.

“Acquired EBITDA” shall mean, with respect to
any Acquired Entity or Business, any Converted Restricted Subsidiary, any Sold
Entity or Business or any Converted Unrestricted Subsidiary (any of the
foregoing, a “Pro Forma Entity”) for any period, the amount for such
period of Consolidated EBITDA of such Pro Forma Entity (determined using such
definitions as if references to the Borrower and its Subsidiaries therein were
to such Pro Forma Entity and its Subsidiaries), all as determined on a
consolidated basis for such Pro Forma Entity in accordance with GAAP.

 2
 

“Acquired Entity or Business” shall have the
meaning provided in the definition of the term “Consolidated EBITDA”.

“Acquisition” shall have the meaning provided
in the Original Credit Agreement.

 “Adjusted
Total New Term Loan Commitment” shall mean, at any time with respect to New
Term Loans of any Series, the Total New Term Loan Commitment for such Series less
the aggregate New Term Loan Commitments for such Series of all Defaulting
Lenders.

“Adjusted Total Revolving Credit Commitment”
shall mean, at any time, the Total Revolving Credit Commitment less the
aggregate Revolving Credit Commitments of all Defaulting Lenders.

 “Administrative
Agent” shall mean MS, together with its affiliates and permitted successors
in such capacity, as the administrative agent for the Lenders under this
Agreement and the other Credit Documents.

“Administrative Agent’s Office” shall mean the
office of the Administrative Agent located at 1585 Broadway, New York, New York
10036, or such other office as the Administrative Agent may hereafter designate
in writing as such to the other parties hereto.

“Affiliate” shall mean, with respect to any
Person, any other Person directly or indirectly controlling, controlled by, or
under direct or indirect common control with such Person.  A Person shall be deemed to control a
corporation if such Person possesses, directly or indirectly, the power
(a) to vote 10% or more of the securities having ordinary voting power for
the election of directors of such corporation or (b) to direct or cause
the direction of the management and policies of such corporation, whether
through the ownership of voting securities, by contract or otherwise.

“Agents” shall mean the Arranger, the
Administrative Agent, the Collateral Agent, and the Syndication Agent.

“Aggregate Customer Debits” shall have the meaning set forth in
Rule 15c3-3 of the Exchange Act.

“Agreement” shall mean this Amended and
Restated Credit Agreement, as the same may be amended, supplemented or
otherwise modified from time to time in accordance with the terms hereof and of
the other Credit Documents.

“Applicable ABR Margin” shall mean, at any
date, (a) with respect to the Tranche C Term Loans, (i) during any period
in which an Applicable Margin Step-Down Event shall not exist, 1.75% per annum,
and (ii) during any period in which an Applicable Margin Step-Down Event
shall exist, 1.50% per annum, and (b) with respect to Revolving Credit
Loans, Swingline Loans and Letters of Credit, 1.00% per annum.

“Applicable Eurodollar Margin” shall mean, at
any date, (a) with respect to the Tranche C Term Loans, (i) during any
period in which an Applicable Margin Step-Down Event

 3
 

shall not exist, 2.75% per annum, and (ii) during
any period in which an Applicable Margin Step-Down Event shall exist, 2.50% per
annum, and (b) with respect to Revolving Credit Loans and Letters of
Credit, 2.00% per annum.

“Applicable Margin Step-Down Event” shall mean,
any date on which either (a) the Borrower’s corporate family rating by Moody’s
is B1 or better or (b) the Consolidated Total Debt to Consolidated EBITDA Ratio
is less than 4.50:1.00.  Changes in the
Applicable ABR Margin and the Applicable Eurodollar Margin resulting from, (i)
changes in ratings from Moody’s shall become effective on the date such rating
shall have changed and (ii) changes in Consolidated Total Debt to Consolidated
EBITDA Ratio shall become effective as of the first Business Day following the
delivery of the Section 9.1 Financials.

“Applicable Laws” shall mean, as to any Person,
any law, rule, regulation, ordinance or treaty, or any determination, ruling or
other directive by or from a court, arbitrator, self-regulatory body or other
Governmental Authority, in each case applicable to or binding on such Person or
any of its property or assets or to which such Person or any of its property or
assets is subject.

“Applicable Margin” shall mean the Applicable
ABR Margin or the Applicable Eurodollar Margin, as applicable.

“Approved Fund” shall have the meaning provided
in Section 13.6(b).

“Arranger” shall mean GSCP, together with its
affiliates, as sole lead arranger and sole bookrunners for the Tranche C Term
Loan Facility.

“Asset Sale Prepayment Event” shall mean any
sale, transfer or other disposition (or series of related sales, transfers or
dispositions) of any business unit, asset or property of the Borrower or any
Restricted Subsidiary (including any sale, transfer or other disposition of any
Capital Stock of any Subsidiary of the Borrower owned by the Borrower or any
Restricted Subsidiary); provided, that the term “Asset Sale Prepayment
Event” shall not include (a) any Recovery Event or (b) any sale,
transfer or other disposition permitted under clauses (a), (b), (d)(i), (e),
(f) and (h) of Section 10.4.

“Assignment and Acceptance” shall mean an
assignment and acceptance substantially in the form of Exhibit A.

“Authorized Officer” shall mean the Chairman of
the Board, the President, the Chief Financial Officer, the Treasurer or any
other senior officer of the Borrower designated as such in writing to the
Administrative Agent by the Borrower.

“Available Amount” shall mean, on any date (the
“Reference Date”), an amount equal at such time to (a) the sum of,
without duplication:

(i)                                     an
amount (which amount shall not be less than zero) equal to (x) the
cumulative amount of Excess Cash Flow for all full fiscal years completed after
the Closing Date (commencing with the fiscal year ending December 31, 2006) and
prior to the Reference Date minus (y) the portion of such Excess Cash Flow
that has been after

 4
 

the Closing Date and on
or prior to the Reference Date (or will be) applied to the prepayment of Loans
in accordance with Section 5.2(a)(ii);

(ii)                                  the
amount of any capital contributions or other equity issuances (other than the
Equity Contributions, issuances of Permitted Cure Securities or any other
capital contribution or equity issuance to the extent utilized in connection
with other transactions permitted pursuant to Section 10.5 or 10.6) made or
received by Holdings or the Borrower during the period from and including the
Business Day immediately following the Closing Date through and including the
Reference Date;

(iii)                               to
the extent not already included in the calculation of Consolidated Net Income,
the aggregate amount of all cash dividends and other cash distributions
received by Holdings, the Borrower or any Restricted Subsidiary from any
Minority Investments or Unrestricted Subsidiaries after the Closing Date and on
or prior to the Reference Date (other than the portion of any such dividends
and other distributions that is used by Holdings, the Borrower or any Guarantor
to pay taxes); and

(iv)                              to
the extent not already included in the calculation of Consolidated Net Income,
the aggregate amount of all cash repayments of principal received by Holdings,
the Borrower or any Restricted Subsidiary from any Minority Investments or
Unrestricted Subsidiaries after the Closing Date and on or prior to the
Reference Date in respect of loans made by Holdings, the Borrower or any
Restricted Subsidiary to such Minority Investments or Unrestricted Subsidiaries;

minus (b) the sum of:

(i)                                     the
aggregate amount of any Investments made by Holdings, the Borrower or any
Restricted Subsidiary pursuant to Section 10.5(j)(ii), 10.5(t)(ii),
10.5(u)(ii) or 10.5(aa)(y) after the Closing Date and on or prior to the Reference
Date; and

(ii)                                  the
aggregate amount of prepayments, repurchases and redemptions made by Holdings,
the Borrower or any Restricted Subsidiary pursuant to clause (i)(y) of the
proviso to Section 10.7(a) and clause (i)(y) of the proviso to
Section 10.7(b) after the Closing Date and on or prior to the
Reference Date.

“Board” shall mean the Board of Governors of
the Federal Reserve System of the United States (or any successor).

“Borrower” shall have the meaning provided in
the preamble to this Agreement.

“Borrowing” shall mean and include (a) the
incurrence of Swingline Loans from the Swingline Lender on a given date,
(b) the incurrence of one Type of Tranche C Term Loan on the Effective
Date (or resulting from conversions on a given date after the Effective Date)
having, in the case of Eurodollar Term Loans, the same Interest Period
(provided that ABR Loans incurred pursuant to Section 2.10(b) shall
be considered part of any related Borrowing of Eurodollar Term Loans),
(c) the incurrence of one Type of New Term Loan on the applicable
Increased Amount Date (or resulting from conversions on a given date after the
applicable Increased Amount Date) having, in the case of Eurodollar Term Loans,
the same Interest Period

 5
 

(provided that ABR Loans incurred pursuant to
Section 2.10(b) shall be considered part of any related Borrowing of
Eurodollar Term Loans) and (d) the incurrence of one Type of Revolving
Credit Loan on a given date (or resulting from conversions on a given date)
having, in the case of Eurodollar Revolving Credit Loans, the same Interest
Period (provided that ABR Loans incurred pursuant to
Section 2.10(b) shall be considered part of any related Borrowing of
Eurodollar Revolving Credit Loans).

“Broker-Dealer Capital Requirement” shall mean, as of any date of
determination, the greater of (a) $40,000,000 and (b) 15% of Aggregate Customer
Debits on such date.

“Broker-Dealer Regulated Subsidiary” shall mean the Subsidiary of
the Borrower that is registered as a broker-dealer under the Exchange Act or
any other Applicable Law requiring such registration.

“Broker-Dealer Required Cash” shall mean, as of any date of
determination, the greater of (a) the difference of (i) all cash and cash
equivalents (including Segregated Cash) on the balance sheet of the
Broker-Dealer Regulated Subsidiary as of such date less (ii) all Indebtedness
on the balance sheet of the Broker-Dealer Regulated Subsidiary as of such date,
other than (A) Indebtedness under Margin Lines of Credit and (B) other
Indebtedness that has been approved as regulatory capital for computation of
Net Capital (as defined in Rule 15c3-1 of the Exchange Act) less (iii) the
Broker-Dealer Surplus Capital of the Broker-Dealer Regulated Subsidiary as of
such date and (b) Calculated Segregated Cash as of such date.

“Broker-Dealer Surplus Capital” shall mean, as of any date of
determination, the difference of (a) the Net Capital (as defined in Rule 15c3-1
of the Exchange Act) of the Broker-Dealer Regulated Subsidiary as of such date
and (b) the Broker-Dealer Capital Requirement as of such date.

“Business Day” shall mean any day excluding
Saturday, Sunday and any day that shall be in The City of New York or San
Diego, California a legal holiday or a day on which banking institutions are
authorized by law or other governmental actions to close.

“Calculated Segregated Cash” shall mean, as of any date of
determination, all cash and “qualified” cash equivalents required to be
segregated as calculated as of such date under Rule 15c3-3 of the Exchange Act.

“Capital Expenditures” shall mean, for any
period, the aggregate of all expenditures (whether paid in cash or accrued as
liabilities and including in all events all amounts expended or capitalized
under Capital Leases, but excluding any amount representing capitalized interest)
by the Borrower and the Restricted Subsidiaries during such period that, in
conformity with GAAP, are or are required to be included as additions during
such period to property, plant or equipment reflected in the consolidated
balance sheet of the Borrower and its Subsidiaries; provided, that the
term “Capital Expenditures” shall not include (a) expenditures made in
connection with the replacement, substitution, restoration or repair of assets
to the extent financed from insurance proceeds or compensation awards paid on
account of a Recovery Event, (b) the purchase price of equipment that is
purchased simultaneously with the trade-in of existing equipment to the extent
that the gross amount of such purchase price is reduced by the credit

 6
 

granted by the seller of such equipment for the
equipment being traded in at such time, (c) the purchase of plant,
property or equipment made within two years of the sale of any asset to the
extent purchased with the proceeds of such sale, (d) expenditures that
constitute any part of Consolidated Lease Expense or (e) any expenditures
deemed to be made as part of a Permitted Acquisition.

“Capital Lease” shall mean, as applied to any
Person, any lease of any property (whether real, personal or mixed) by that
Person as lessee that, in conformity with GAAP, is or is required to be
accounted for as a capital lease on the balance sheet of that Person.

“Capital Stock” shall mean any and all shares,
interests, participations or other equivalents (however designated) of capital
stock of a corporation, any and all equivalent ownership interests in a Person
(other than a corporation) and any and all warrants, rights or options to
purchase any of the foregoing.

“Capitalized Lease Obligations” shall mean, as
applied to any Person, all obligations under Capital Leases of such Person or
any of its Subsidiaries, in each case taken at the amount thereof accounted for
as liabilities in accordance with GAAP.

“Change of Control” shall mean and be deemed to
have occurred if (a) at any time prior to the consummation of an IPO, the
Permitted Investors fail to own at least 50% of the Voting Stock of Holdings;
(b) at any time after the consummation of an IPO, a “person” or “group”
(as such terms are used in Sections 13(d) and 14(d) of the Exchange Act, but
excluding any employee benefit plan of such Person and its Subsidiaries, and
any Person acting in its capacity as trustee, agent or other fiduciary or
administrator of any such plan), excluding the Permitted Investors, shall
become the “beneficial owner” (as defined in Rules 13(d)-3 and 13(d)-5 under
such Act), directly or indirectly, of 35% or more of the Voting Stock of
Holdings, unless the Permitted Investors own Voting Stock of Holdings
representing a greater percentage; (c) Holdings shall cease to
beneficially own and control 100% of the Voting Stock of the Borrower; (d) the
Borrower shall cease to beneficially own and control at least 100% of the
Voting Stock of Linsco/Private Ledger Corp.; (e) the board of directors of
Holdings shall cease to consist of a majority of Continuing Directors; or
(f) any “change of control” (as defined in the Senior Unsecured
Subordinated Note Indenture) shall occur.

“Class”, when used in reference to any Loan or
Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing,
are Revolving Credit Loans, Tranche C Term Loans, New Term Loans or Swingline
Loans and, when used in reference to any Commitment, refers to whether such
Commitment is a Tranche C Term Loan Commitment, a New Term Loan Commitment, a
Revolving Credit Commitment or a Swingline Commitment.

“Closing Date” shall mean December 28, 2005,
the date of the initial credit event under the Original Credit Agreement.

“Closing Date Indebtedness” shall mean
Indebtedness described on Schedule 10.1.

 “Code”
shall mean the Internal Revenue Code of 1986, as amended from time to time, and
the regulations promulgated and rulings issued thereunder.  Section references to the

 7
 

Code are to the Code, as in effect at the date of this
Agreement, and any subsequent provisions of the Code, amendatory thereof,
supplemental thereto or substituted therefor.

“Collateral” shall have the meaning provided in
the Security Agreement, the Pledge Agreement or any Mortgage, as applicable.

“Collateral Agent” shall mean Morgan Stanley
& Co., together with its affiliates and permitted successors in such
capacity, as the collateral agent for the Secured Parties.

“Commitment” shall mean, with respect to each
Lender, such Lender’s Tranche C Term Loan Commitment, New Term Loan Commitment,
Revolving Credit Commitment, or Swingline Commitment.

“Confidential Information” shall have the
meaning provided in Section 13.16.

“Confidential Information Memorandum” shall
mean the Confidential Information Memorandum of the Borrower dated December
2005, delivered to the Lenders in connection with this Agreement.

“Consolidated Earnings” shall mean, for any
period, “income (loss) before the deduction of income and franchise taxes” of
the Borrower and the Restricted Subsidiaries, excluding (a) extraordinary
items for such period, determined in a manner consistent with the manner in
which such amount was determined in accordance with the audited financial
statements referred to in Section 9.1(a) and (b) the cumulative
effect of a change in accounting principles or policies during such period,
whether effected through a cumulative effect adjustment or a retroactive
application, in each case in accordance with GAAP.

“Consolidated EBITDA” shall mean, for any
period:

(a) the sum, without duplication, of the amounts
for such period of (x) Consolidated Earnings and (y) to the extent already
deducted in arriving at Consolidated Earnings:

(i)                                     Consolidated
Interest Expense;

(ii)                                  depreciation
expense;

(iii)                               amortization
expense, including the amortization of deferred financing fees;

(iv)                            extraordinary
losses and unusual or non-recurring charges, severance, relocation costs and
curtailment or modification to pension and post-retirement employee benefit
plans (including any writeoffs, writedowns or other non-cash charges reducing
Consolidated Earnings for such period, but excluding any such charge that
represents an accrual or reserve for a cash expenditure for a future period or
amortization of a prepaid cash item that was paid in a prior period);

(v)                                 losses
on asset sales;

 8
 

(vi)                              restructuring
charges, accruals or reserves (excluding any non-cash item to the extent
that it represents an accrual or reserve for potential cash items in any future
period or amortization of a prepaid cash item that was paid in a prior period),
including any one-time costs incurred in connection with acquisitions after the
Closing Date;

(vii)                           [Reserved];

(viii)                        any
expenses or charges (including any commissions, discounts and other fees or
charges) incurred in connection with any issuance of debt or equity securities,
any refinancing transaction or any amendment or other modification of any debt
instrument (whether or not successful);

(ix)                                any
fees and expenses related to Permitted Acquisitions, dispositions,
recapitalizations, Investments or asset sales;

(x)                                   any
deduction for minority interest expense;

(xi)                                the
amount of management, monitoring, consulting and advisory fees and related
expenses paid to the Sponsors (including any amortization thereof), to the
extent permitted by Section 10.6(d);

(xii)                             any
impairment charge or asset write-off pursuant to Financial Accounting Standards
Board Statement No. 142-”Goodwill and Other Intangible Assets” or Financial
Accounting Standards Board Statement No. 144-”Accounting for the Impairment or
Disposal of Long-Lived Assets” and the amortization of intangibles arising
pursuant to Financial Accounting Standards Board Statement No. 141-”Business
Combinations”;

(xiii)                          any
costs or expenses incurred by Holding, the Borrower or a Restricted Subsidiary
pursuant to any management equity plan or stock option plan or any other
management or employee benefit plan or agreement or any stock subscription or
shareholder agreement, to the extent that such costs or expenses are funded
with cash proceeds contributed to the capital of Holdings or the Borrower or
net cash proceeds of an issuance of Capital Stock of Holdings or the Borrower;

(xiv)                         any
losses from the early extinguishment of Indebtedness or Hedging Agreements or
other derivative instruments; and

(xv)                            any
non-cash compensation expense recorded from grants of stock appreciation or
similar rights, stock options, restricted stock or other rights to officers,
directors or employees;

less (b) the sum of the amounts
for such period of:

(i)                                     extraordinary
gains;

(ii)                                  non-cash
gains (excluding any such non-cash gain to the extent it represents the
reversal of an accrual or reserve for potential cash item in any prior period)

 9
 

increasing Consolidated
Earnings for such period, other than the accrual of revenues in the ordinary
course of business;

(iii)                               any
gains from the early extinguishment of Indebtedness or Hedging Agreements or
other derivative instruments; and

(iv)                              gains
on asset sales;

all as determined on a consolidated basis for the
Borrower and the Restricted Subsidiaries in accordance with GAAP; provided,
that (A) except as provided in clause (C) below, there shall be
excluded from Consolidated Earnings for any period the income from continuing
operations before income and franchise taxes and extraordinary items of all
Unrestricted Subsidiaries for such period to the extent otherwise included in
Consolidated Earnings, except to the extent actually received in cash by the
Borrower or the Restricted Subsidiaries during such period through dividends or
other distributions, (B) there shall be excluded in determining
Consolidated EBITDA non-operating
currency transaction gains and losses and (C) (x) there shall
be included in determining Consolidated EBITDA for any period (1) the
Acquired EBITDA of any Person, property, business or asset (other than an
Unrestricted Subsidiary) acquired to the extent not subsequently sold,
transferred or otherwise disposed of (but not including the Acquired EBITDA of
any related Person, property, business or assets to the extent not so acquired)
by the Borrower or any Restricted Subsidiary during such period (each such
Person, property, business or asset acquired, including pursuant to the UVEST
Acquisition, and not subsequently so disposed of, an “Acquired Entity or
Business”), and the Acquired EBITDA of any Unrestricted Subsidiary that is
converted into a Restricted Subsidiary during such period (each, a “Converted
Restricted Subsidiary”), in each case based on the actual Acquired EBITDA
of such Acquired Entity or Business or Converted Restricted Subsidiary for such
period (including the portion thereof occurring prior to such acquisition or
conversion) and (2) for the purposes of the definition of the term “Permitted
Acquisition” and Sections 10.1(j), 10.1(k), 10.3, 10.9 and 10.10, an adjustment
in respect of each Acquired Entity or Business equal to the amount of the Pro
Forma Adjustment with respect to such Acquired Entity or Business for such
period (including the portion thereof occurring prior to such acquisition or
conversion) as specified in the Pro Forma Adjustment Certificate delivered to
the Administrative Agent and (y) for purposes of determining the
Consolidated Total Debt to Consolidated EBITDA Ratio only, there shall be
excluded in determining Consolidated EBITDA for any period the Acquired EBITDA
of any Person, property, business or asset (other than an Unrestricted
Subsidiary) sold, transferred or otherwise disposed of by the Borrower or any
Restricted Subsidiary during such period (each such Person, property, business
or asset so sold, transferred or otherwise disposed of, a “Sold Entity or
Business”), and the Acquired EBITDA of any Restricted Subsidiary that is
converted into an Unrestricted Subsidiary during such period (each, a “Converted
Unrestricted Subsidiary”), in each case based on the actual Acquired EBITDA
of such Sold Entity or Business or Converted Unrestricted Subsidiary for such
period (including the portion thereof occurring prior to such sale, transfer,
disposition or conversion).

“Consolidated EBITDA Growth Factor” shall mean,
as of any date of determination, a fraction, (a) the numerator of which is the
difference (only if positive) between the Consolidated EBITDA of the Borrower
and its Restricted Subsidiaries (i) for the last Test Period prior to such
determination date for which Section 9.1 Financials have been delivered

 10
 

pursuant to Section 9.1, and (ii) for the fiscal year
of the Borrower ending December 31, 2005, and (b) the denominator of which is
$188,917,000.

“Consolidated EBITDA to Consolidated Interest
Expense Ratio” shall mean, as of any date of determination, the ratio of
(a) Consolidated EBITDA for the relevant Test Period to
(b) Consolidated Interest Expense for such Test Period.

“Consolidated Interest Expense” shall mean, for
any period, the cash interest expense (including that attributable to Capital
Leases in accordance with GAAP), net of cash interest income to the extent not
included in the calculation of Consolidated EBITDA, of the Borrower and the
Restricted Subsidiaries on a consolidated basis with respect to all outstanding
Indebtedness of the Borrower and the Restricted Subsidiaries, including all
commissions, discounts and other fees and charges owed with respect to letters
of credit and bankers’ acceptance financing and net costs under Interest Rate
Hedging Agreements, but excluding, however, amortization of deferred financing
costs and any other amounts of non-cash interest, all as calculated on a
consolidated basis in accordance with GAAP, and excluding, for the avoidance of
doubt, any interest in respect of items excluded from Indebtedness in the
proviso to the definition thereof, any non-cash interest expense attributable
to the movement in the mark-to-market valuation of Hedging Obligations or other
derivative instruments pursuant to Financial Accounting Standards Board
Statement No. 133, any one-time cash costs associated with breakage costs in
respect of Interest Rate Hedging Agreements and any interest expense in respect
of Indebtedness outstanding under any Margin Lines of Credit or Warehouse Lines
of Credit; provided, that (a) except as provided in
clause (b) below, there shall be excluded from Consolidated Interest
Expense for any period the cash interest expense (or income) of all
Unrestricted Subsidiaries for such period to the extent otherwise included in
Consolidated Interest Expense, (b) for purposes of the definition of the
term “Permitted Acquisition” and Sections 10.1(j), 10.1(k), 10.3, 10.9 and
10.10, there shall be included in determining Consolidated Interest Expense for
any period the cash interest expense (or income) of any Acquired Entity or
Business acquired during such period and of any Converted Restricted Subsidiary
converted during such period, in each case based on the cash interest expense
(or income) relating to any Indebtedness incurred or assumed as part of an
acquisition of an Acquired Entity or Business or as part of the conversion of a
Converted Restricted Subsidiary for such period (including the portion thereof
occurring prior to such acquisition or conversion) assuming any Indebtedness
incurred or repaid in connection with any such acquisition or conversion had
been incurred or repaid on the first day of such period and (c) for
purposes of the definition of the term “Permitted Acquisition” and Sections 10.1(j),
10.1(k), 10.3, 10.9 and 10.10, there shall be excluded from determining
Consolidated Interest Expense for any period the cash interest expense (or
income) of any Sold Entity or Business disposed of during such period and of
any Converted Unrestricted Subsidiary converted during such period, in each
case, based on the cash interest expense (or income) relating to any
Indebtedness relieved or repaid in connection with any such disposition of such
Sold Entity or Business or as part of the conversion of a Converted
Unrestricted Subsidiary for such period (including the portion thereof
occurring prior to such disposal or conversion) assuming such debt relieved or
repaid in connection with such disposition or conversion had been relieved or
repaid on the first day of such period.

“Consolidated Lease Expense” shall mean, for
any period, all rental expenses of the Borrower and the Restricted Subsidiaries
during such period under operating leases for real

 11
 

or personal property (including in connection with
Permitted Sale Leasebacks), excluding real estate taxes, insurance costs and
common area maintenance charges and net of sublease income, other than
(a) obligations under vehicle leases entered into in the ordinary course
of business, (b) all such rental expenses associated with assets acquired
pursuant to a Permitted Acquisition to the extent that such rental expenses
relate to operating leases in effect at the time of (and immediately prior to)
such acquisition and (c) Capitalized Lease Obligations, all as determined
on a consolidated basis in accordance with GAAP; provided, that there
shall be excluded from Consolidated Lease Expense for any period the rental
expenses of all Unrestricted Subsidiaries for such period to the extent
otherwise included in Consolidated Lease Expense.

“Consolidated Net Income” shall mean, for any
period, the consolidated net income (or loss) after the deduction of income
taxes of the Borrower and the Restricted Subsidiaries, determined on a
consolidated basis in accordance with GAAP.

“Consolidated Total Assets” shall mean, as of
any date of determination, the total amount of all assets of the Borrower and
the Restricted Subsidiaries, determined on a consolidated basis in accordance
with GAAP as of such date.

“Consolidated Total Debt” shall mean, as of any
date of determination, (a) the sum of (i) all indebtedness of the
Borrower and the Restricted Subsidiaries for borrowed money outstanding on such
date and (ii) all Capitalized Lease Obligations of the Borrower and the
Restricted Subsidiaries outstanding on such date, all calculated on a
consolidated basis in accordance with GAAP minus (b) the
sum of (i) the aggregate amount of cash and cash equivalents included in
the cash accounts listed on the consolidated balance sheet of the Borrower
and the Restricted Subsidiaries as at such date plus (ii) all Segregated Cash
as at such date, to the extent that such sum exceeds the amount of Required
Cash and to the extent the use thereof for application to the payment of
Indebtedness is not otherwise prohibited by law or any contract to which the
Borrower or any of the Restricted Subsidiaries is a party minus
(c) all Indebtedness of the Borrower and the Restricted Subsidiaries
outstanding under any Margin Lines of Credit or Warehouse Lines of Credit on
such date.

“Consolidated Total Debt to Consolidated EBITDA
Ratio” shall mean, as of any date of determination, the ratio of
(a) Consolidated Total Debt as of the last day of the relevant Test Period
to (b) Consolidated EBITDA for such Test Period.

“Consolidated Total Net Tangible Assets” shall
mean, as of any date of determination, the total amount of (i) all Consolidated
Total Assets of the Borrower and the Restricted Subsidiaries less (ii) the
stated balance sheet “goodwill” of the Borrower and the Restricted Subsidiaries
and less (iii) the stated balance sheet “intangible assets” of the Borrower and
the Restricted Subsidiaries, in each case determined on a consolidated basis in
accordance with GAAP as of such date.

“Continuing Lender” shall mean each Original
Lender that has delivered a Lender Consent Letter agreeing to convert all or a
portion of the Original Term Loans made by such Lender to Tranche C Term Loans.

 12

“Continuing Manager” shall mean, at any date,
an individual (a) who is a member of the Board of Directors of Holdings on
the Closing Date, (b) who, as at such date, has been a member of such
Board of Directors of Holdings for at least the 12 preceding months,
(c) who has been nominated to be a member of such Board of Directors of
Holdings, directly or indirectly, by one or more Permitted Investors or Persons
nominated by one or more Permitted Investors or (d) who has been nominated
to be a member of such Board of Directors of Holdings by a majority of the
other Continuing Managers then in office.

“Contract Consideration” shall have the meaning
provided in the definition of “Excess Cash Flow”.

“Converted Restricted Subsidiary” shall have
the meaning provided in the definition of the term “Consolidated EBITDA”.

“Converted Unrestricted Subsidiary” shall have
the meaning provided in the definition of the term “Consolidated EBITDA”.

“Credit Documents” shall mean this Agreement,
the Guarantee, the Security Documents, the Engagement Letter and each Letter of
Credit and any promissory notes issued by the Borrower hereunder.

“Credit Event” shall mean and include the
making (but not the conversion or continuation) of a Loan and the issuance of a
Letter of Credit.

“Credit Facility” shall mean any of the Tranche
C Term Loan Facility, any New Term Loan Facility or the Revolving Credit
Facility, as applicable.

“Credit Party” shall mean each of the Borrower,
Holdings, the other Guarantors and each other Subsidiary of the Borrower that
is a party to a Credit Document.

“Cumulative Consolidated Net Income Available to
Stockholders” shall mean, as of any date of determination, (i) Consolidated
Net Income plus (ii) any impairment charge or asset write-off pursuant to
Financial Accounting Standards Board Statement No. 142-”Goodwill and Other
Intangible Assets” or Financial Accounting Standards Board Statement No. 144-”Accounting
for the Impairment or Disposal of Long-Lived Assets” and the amortization of
intangibles arising pursuant to Financial Accounting Standards Board Statement
No. 141-”Business Combinations” less (iii) cash dividends paid or distributions
made by Holdings with respect to its Capital Stock for the period (taken as one
accounting period) commencing on the Closing Date and ending on the last day of
the most recent fiscal quarter for which Section 9.1 Financials have been
delivered under Section 9.1.

“Cure Amount” shall have the meaning provided
in Section 11.14(a).

“Cure Right” shall have the meaning provided in
Section 11.14(a).

“Currency Hedging Agreement” shall mean any
swap, cap, collar, forward future, option or similar agreement or derivative
transaction entered into by the Borrower or any Restricted Subsidiary in the
ordinary course of business and not for speculative purposes in order

 13
 

to protect the Borrower or such Restricted Subsidiary
against fluctuations in currency exchange rates.

“Current Interest Period” shall have the
meaning provided in Section 2.3(g).

“Debt Incurrence Prepayment Event” shall mean
any issuance or incurrence by the Borrower or any of the Restricted
Subsidiaries of any Indebtedness (including any issuance by the Borrower of
Permitted Additional Notes), excluding any Indebtedness permitted to be issued
or incurred under Section 10.1 (other than clause (i)(ii) thereof).

 “Default”
shall mean any event, act or condition that with notice or lapse of time, or
both, would constitute an Event of Default.

“Defaulting Lender” shall mean any Lender with
respect to which a Lender Default is in effect.

“Dividends” shall have the meaning provided in
Section 10.6.

“Dollars” and “$” shall mean dollars in
lawful currency of the United States of America.

“Domestic Subsidiary” shall mean each
Subsidiary of the Borrower that is organized under the laws of the
United States, any state or territory thereof, or the District of
Columbia.

“Drawing” shall have the meaning provided in
Section 3.4(b).

“Effective Date” shall mean the date upon which
the conditions set forth in Section 6 are satisfied.

“Engagement Letter” shall mean that certain
Repricing Engagement Letter dated as of December 1, 2006 between the Borrower
and GSCP.

“Environmental Claims” shall mean any and all
administrative, regulatory or judicial actions, suits, demands, demand letters,
claims, liens, notices of noncompliance or violation, investigations (other
than internal reports prepared by the Borrower or any of its Subsidiaries
(a) in the ordinary course of such Person’s business or (b) as
required in connection with a financing transaction or an acquisition or
disposition of real estate) or proceedings relating in any way to any
Environmental Law or any permit issued, or any approval given, under any such
Environmental Law (hereinafter, “Claims”), including (i) any and
all Claims by governmental or regulatory authorities for enforcement, cleanup,
removal, response, remedial or other actions or damages pursuant to any
applicable Environmental Law and (ii) any and all Claims by any third
party seeking damages, contribution, indemnification, cost recovery,
compensation or injunctive relief resulting from Hazardous Materials or arising
from alleged injury or threat of injury to health, safety or the environment.

“Environmental Law” shall mean any applicable
Federal, state, foreign or local statute, law, rule, regulation, ordinance,
code and rule of common law now or hereafter in effect

 14
 

and in each case as amended, and any binding judicial
or administrative interpretation thereof, including any binding judicial or
administrative order, consent decree or judgment, relating to the environment,
human health or safety or Hazardous Materials.

“Equity Contributions” shall have the meaning
provided in the Original Credit Agreement.

“ERISA” shall mean the Employee Retirement
Income Security Act of 1974, as amended from time to time.  Section references to ERISA are to ERISA as
in effect at the date of this Agreement and any subsequent provisions of ERISA
amendatory thereof, supplemental thereto or substituted therefor.

“ERISA Affiliate” shall mean each person (as
defined in Section 3(9) of ERISA) that together with the Borrower or a
Subsidiary thereof would be deemed to be a “single employer” within the meaning
of 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.

“Eurodollar Loan” shall mean any Eurodollar
Term Loan or Eurodollar Revolving Credit Loan.

“Eurodollar Rate” shall mean, in the case of
any Eurodollar Loan, with respect to each day during each Interest Period
pertaining to such Eurodollar Loan, (a) the rate of interest determined on
the basis of the rate for deposits in Dollars for a period equal to such
Interest Period commencing on the first day of such Interest Period appearing
on Page 3750 of the Telerate screen as of 11:00 a.m. (London time)
two Business Days prior to the beginning of such Interest Period multiplied by
(b) the Statutory Reserve Rate.  In
the event that any such rate does not appear on the applicable Page of the Telerate
Service (or otherwise on such service), the “Eurodollar Rate” for the
purposes of this paragraph shall be determined by reference to such other
publicly available service for displaying Eurodollar rates as may be agreed
upon by the Administrative Agent and the Borrower or, in the absence of such
agreement, the “Eurodollar Rate” for the purposes of this paragraph
shall instead be the rate per annum notified to the Administrative Agent by the
Reference Lender as the rate at which the Reference Lender is offered Dollar
deposits at or about 11:00 a.m. (London time) two Business Days prior to the
beginning of such Interest Period in the interbank Eurodollar market where the
Eurodollar and foreign currency and exchange operations in respect of its
Eurodollar Loans are then being conducted for delivery on the first day of such
Interest Period for the number of days comprised therein and in an amount
comparable to the amount of its Eurodollar Loan to be outstanding during such
Interest Period.

“Eurodollar New Term Loan” shall mean any New
Term Loan bearing interest at a rate determined by reference to the Eurodollar
Rate.

“Eurodollar Revolving Credit Loan” shall mean
any Revolving Credit Loan bearing interest at a rate determined by reference to
the Eurodollar Rate.

“Eurodollar Term Loan” shall mean any
Eurodollar Tranche C Term Loan or Eurodollar New Term Loan, as applicable.

 15
 

“Eurodollar Tranche C Term Loan” shall mean any
Tranche C Term Loan bearing interest at a rate determined by reference to the
Eurodollar Rate.

“Event of Default” shall have the meaning
provided in Section 11.

“Excess Cash Flow” shall mean, for any period,
an amount equal to the excess of (a) the sum, without duplication, of:

(i)                                     Consolidated
Net Income for such period;

(ii)                                  an
amount equal to the amount of all after-tax non-cash expenses and losses to the
extent deducted in arriving at such Consolidated Net Income;

(iii)                               decreases
in Net Working Capital for such period (other than decreases arising from
Permitted Acquisitions or sales, leases, transfers or other dispositions of
assets by the Borrower or any of its Restricted Subsidiaries during such
period);

(iv)                              an
amount equal to the aggregate net after-tax non-cash loss on the sale, lease,
transfer or other disposition of assets by the Borrower and the Restricted
Subsidiaries during such period (other than sales, leases, transfers or other
dispositions in the ordinary course of business) to the extent deducted in
arriving at such Consolidated Net Income; and

(v)                               the
amount of tax expense deducted in determining Consolidated Net Income for such
period to the extent it exceeds the amount of cash taxes paid in such period;

over (b) the sum, without
duplication, of:

(i)                                     an
amount equal to the amount of all after-tax non-cash gains included in arriving
at such Consolidated Net Income;

(ii)                                  without
duplication of amounts deducted pursuant to clause (xii) below in such period,
the aggregate amount actually paid by the Borrower and the Restricted
Subsidiaries in cash during such period on account of Capital Expenditures
(excluding the principal amount of Indebtedness incurred in connection with
such Capital Expenditures, whether incurred in such period or in a subsequent
period);

(iii)                               the
aggregate amount of all prepayments of Revolving Credit Loans and Swingline
Loans made during such period to the extent accompanying reductions of the
Total Revolving Credit Commitment except to the extent financed with the
proceeds of other Indebtedness of the Borrower or the Restricted Subsidiaries;

(iv)                              the
aggregate amount of all principal payments of Indebtedness of the Borrower or
the Restricted Subsidiaries (including any Term Loans and the principal
component of payments in respect of Capitalized Lease Obligations, but
excluding Revolving Credit Loans, Swingline Loans and voluntary prepayments of
Term Loans pursuant to Section 5.1) made during such period (other than in
respect of any revolving

 16
 

credit facility to the
extent there is not an equivalent permanent reduction in commitments
thereunder) except to the extent financed with the proceeds of other
Indebtedness of the Borrower or the Restricted Subsidiaries;

(v)                                 an
amount equal to the aggregate net after-tax non-cash gain on the sale, lease,
transfer or other disposition of assets by the Borrower and the Restricted
Subsidiaries during such period (other than sales, leases, transfers or other
dispositions  in the ordinary course of
business) to the extent included in arriving at such Consolidated Net Income;

(vi)                              increases
in Net Working Capital for such period (other than increases arising from
Permitted Acquisitions or sales, leases, transfers or other dispositions of
assets by the Borrower or any of its Restricted Subsidiaries during such
period);

(vii)                           the
amount of dividends, distributions or repurchases paid or made during such
period pursuant to clause (b), (c), (d), (e), or (f) of the proviso to Section
10.6 to the extent such dividends or distributions were (1) paid with the
proceeds of any amount referred to in paragraph (a) of this definition and (2)
financed with internally generated cash flow of the Borrower and the Restricted
Subsidiaries;

(viii)                        the
aggregate amount of expenditures actually made by the Borrower and the
Restricted Subsidiaries in cash during such period (including expenditures for
the payment of financing fees) to the extent that such expenditures are not
expensed during such period;

(ix)                                without
duplication of amounts deducted pursuant to clause (xii) below in such period,
the aggregate amount of cash consideration paid by the Borrower and its
Restricted Subsidiaries during such period in connection with Permitted
Acquisitions to the extent such Permitted Acquisitions were financed with
internally generated cash flow of the Borrower and the Restricted Subsidiaries
(excluding any such amounts funded through the utilization of the Available
Amount);

(x)                                   the
aggregate amount of any premium, make-whole or penalty payments actually paid
in cash by the Borrower and the Restricted Subsidiaries during such period that
are required to be made in connection with any prepayment of Indebtedness;

(xi)                                the
amount of cash taxes paid in such period to the extent they exceed the amount
of tax expense deducted in determining Consolidated Net Income for such period;
and

(xii)  without duplication of amounts deducted from
Excess Cash Flow in other periods, the aggregate consideration required to be
paid in cash by the Borrower or any of the Restricted Subsidiaries pursuant to
binding contracts (the “Contract Consideration”) entered into prior to
or during such period relating to Permitted Acquisitions or Capital
Expenditures to be consummated or made during the period of four consecutive
fiscal quarters of the Borrower following the end of such period, provided that
to the extent the aggregate amount of internally generated cash actually
utilized to finance such Permitted Acquisitions or Capital Expenditures during
such period of four consecutive fiscal

 17
 

quarters is less than the
Contract Consideration, the amount of such shortfall shall be added to the calculation
of Excess Cash Flow at the end of such period of four consecutive fiscal
quarters;

provided,
that, in no event shall Excess Cash Flow exceed an amount equal to the
difference of (a) all cash and cash equivalents (including Segregated Cash) on
the consolidated balance sheet of the Borrower and its Restricted Subsidiaries,
as of the last day of such period, less (b) all Indebtedness on the balance sheet of
the Regulated Subsidiaries as of such date, other than (A) Indebtedness under
Margin Lines of Credit and under Warehouse Lines of Credit and (B) other
Indebtedness that has been approved as regulatory capital for computation of
Net Capital (as defined in Rule 15c3-1 of the Exchange Act) less (c) all
Required Cash of all such Persons as of such date.

“Exchange Act” shall mean the Securities
Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder.

“Excluded Subsidiary” shall mean (i) any
Subsidiary of the Borrower (a) on the Closing Date, that is listed on
Schedule 1.1(c) and (b) created or acquired after the Closing Date or
otherwise becomes after such date, a regulated entity that is subject to net
worth or net capital or similar capital and surplus restrictions under
Applicable Laws or accounting policies or principles or that is otherwise
restricted by Applicable Law from guaranteeing Indebtedness and/or granting
security interests in its assets or property and (ii) any Immaterial
Subsidiary.

“Federal Funds Effective Rate” shall mean, for
any day, the weighted average of the per annum 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 of the quotations for the day of such
transactions received by the Administrative Agent from three Federal funds
brokers of recognized standing selected by it.

“Fees” shall mean all amounts payable pursuant
to, or referred to in, Section 4.1.

“Final Date” shall mean with respect to
Revolving Credit Commitments and Letters of Credit, the date on which the
Revolving Credit Commitments shall have terminated, no Revolving Credit Loans
shall be outstanding and the Letters of Credit Outstanding shall have been
reduced to zero.

“Financial Performance Covenants” shall mean
the covenants of the Borrower set forth in Sections 10.9 and 10.10.

“Foreign Asset Sale” shall have the meaning
provided in Section 5.2(h).

“Foreign Recovery Event” shall have the meaning
provided in Section 5.2(h).

“Foreign Subsidiary” shall mean each Subsidiary
of the Borrower that is not a Domestic Subsidiary.

 18
 

“Fronting Fee” shall have the meaning provided
in Section 4.1(b).

“Funded Debt” shall mean all indebtedness of
the Borrower and the Restricted Subsidiaries for borrowed money that matures
more than one year from the date of its creation or matures within one year
from such date that is renewable or extendable, at the option of the Borrower
or one of the Restricted Subsidiaries, to a date more than one year from such
date or arises under a revolving credit or similar agreement that obligates the
lender or lenders to extend credit during a period of more than one year from
such date, including all amounts of Funded Debt required to be paid or prepaid
within one year from the date of its creation and, in the case of the Borrower,
Indebtedness in respect of the Loans.

 “GAAP”
shall mean generally accepted accounting principles in the United States of
America as in effect from time to time; provided, however, that
if there occurs after the date hereof any change in GAAP that affects in any
respect the calculation of any covenant contained in Section 10, the
Lenders and the Borrower shall negotiate in good faith amendments to the
provisions of this Agreement that relate to the calculation of such covenant
with the intent of having the respective positions of the Lenders and the
Borrower after such change in GAAP conform as nearly as possible to their
respective positions as of the date of this Agreement and, until any such
amendments have been agreed upon, the covenants in Section 10 shall be
calculated as if no such change in GAAP has occurred.

“Governmental Authority” shall mean any nation
or government, any state, province, territory or other political subdivision
thereof, and any entity exercising executive, legislative, judicial, regulatory
or administrative functions of or pertaining to government.

“GSCP” shall have the meaning provided in the
preamble to this Agreement.

“Guarantee” shall mean the Guarantee, dated as
of the Closing Date, among each Guarantor in favor of the Administrative Agent
for the benefit of the Agents and the Lenders, substantially in the form of
Exhibit B attached to the Original Credit Agreement, as the same has been or
may be amended, supplemented or otherwise modified from time to time in
accordance with the terms thereof and of the other Credit Documents.

“Guarantee Obligations” shall mean, as to any
Person, any obligation of such Person guaranteeing or intended to guarantee any
Indebtedness of any other Person (the “primary obligor”) in any manner,
whether directly or indirectly, including any obligation of such Person,
whether or not contingent, (a) to purchase any such Indebtedness or any
property constituting direct or indirect security therefor (b) to advance
or supply funds (i) for the purchase or payment of any such Indebtedness
or (ii) to maintain working capital or equity capital of the primary
obligor or otherwise to maintain the net worth or solvency of the primary
obligor, (c) to purchase property, securities or services primarily for
the purpose of assuring the owner of any such Indebtedness of the ability of
the primary obligor to make payment of such Indebtedness or (d) otherwise
to assure or hold harmless the owner of such Indebtedness against loss in
respect thereof; provided, however, that the term “Guarantee
Obligations” shall not include endorsements of instruments for deposit or
collection in the ordinary course of business or customary and reasonable
indemnity obligations in effect on the Closing Date or entered into in
connection with any acquisition or disposition of assets permitted by this
Agreement (other than

 19
 

such obligations with respect to Indebtedness).  The amount of any Guarantee Obligation shall
be deemed to be an amount equal to the stated or determinable amount of the
Indebtedness in respect of which such Guarantee Obligation is made or, if not
stated or determinable, the maximum reasonably anticipated liability in respect
thereof (assuming such Person is required to perform thereunder) as determined
by such Person in good faith.

“Guarantors” shall mean (a) each of
Holdings and each Domestic Subsidiary of Holdings (other than Borrower or any
Excluded Subsidiary) on the Effective Date and (b) each Domestic
Subsidiary (other than any Excluded Subsidiary, any Unrestricted Subsidiary or
any direct or indirect Domestic Subsidiary of a Foreign Subsidiary) that
becomes a party to the Guarantee after the Effective Date pursuant to
Section 9.11.

“Hazardous Materials” shall mean (a) any
petroleum or petroleum products, radioactive materials, friable asbestos, urea
formaldehyde foam insulation, transformers or other equipment that contain dielectric
fluid containing regulated levels of polychlorinated biphenyls, and radon gas;
(b) any chemicals, materials or substances defined as or included in the
definition of “hazardous substances”, “hazardous waste”, “hazardous materials”,
“extremely hazardous waste”, “restricted hazardous waste”, “toxic substances”, “toxic
pollutants”, “contaminants”, or “pollutants”, or words of similar import, under
any applicable Environmental Law; and (c) any other chemical, material or
substance, which is prohibited, limited or regulated by any Environmental Law.

“Hedging Agreement” shall mean any Currency
Hedging Agreement or Interest Rate Hedging Agreement, as applicable.

“Hedging Obligations” shall mean, with respect
to any Person, the obligations of such Person under Hedging Agreements.

“Historical Financial Statements” shall mean,
as of the Effective Date, (a) the audited financial statements of the
Borrower and its Subsidiaries for the immediately preceding three fiscal years,
and (b) to the extent reasonably available, the unaudited quarterly
financial statements of the Borrower and its Subsidiaries for each fiscal
quarter ended at least 45 days before the Effective Date and following the
latest date for which audited financial statements are available, in each case
consisting of balance sheets and the related consolidated statements of income,
stockholders’ equity and cash flows for such periods.

“Holdings” shall have the meaning provided in
the preamble to this Agreement.

“HUD” shall mean the United States Department of Housing and
Urban Development.

“HUD-Regulated Subsidiary” shall mean the Subsidiary of the
Borrower that is a HUD-approved non-supervised mortgagee.

“HUD-Regulated Subsidiary Required Cash” shall mean, as of any
date of determination, the greater of (a) $100,000 and (b) the difference of
(i) all cash and cash equivalents on the balance sheet of the HUD-Regulated
Subsidiary as of such date and (ii) the

 20
 

Adjusted Net Worth (as referenced in 12 CFR Section 202.5(n)) of the
HUD-Regulated Subsidiary as of such date above $500,000.

“Immaterial Subsidiary” shall mean each
Subsidiary of the Borrower other than a Material Subsidiary.

“Increased Amount Date” shall have the meaning
provided in Section 2.14(a).

“Indebtedness” of any Person shall mean
(a) all indebtedness of such Person for borrowed money, (b) the
deferred purchase price of assets or services that in accordance with GAAP
would be included as liabilities in the balance sheet of such Person,
(c) the face amount of all letters of credit issued for the account of
such Person and, without duplication, all drafts drawn thereunder, (d) all
Indebtedness of a second Person secured by any Lien on any property owned by
such first Person, whether or not such Indebtedness has been assumed,
(e) all Capitalized Lease Obligations of such Person, (f) all
obligations of such Person under interest rate swap, cap or collar agreements,
interest rate future or option contracts, currency swap agreements, currency
future or option contracts, commodity price protection agreements or other
commodity price hedging agreements and other similar agreements (including
Hedging Agreements) and (g) without duplication, all Guarantee Obligations
of such Person in respect of Indebtedness described in clauses (a) through
(f); provided, that Indebtedness shall not include (i) trade
payables and accrued expenses arising in the ordinary course of business,
(ii) prepaid or deferred revenue arising in the ordinary course of
business and (iii) purchase price holdbacks arising in the ordinary course
of business in respect of a portion of the purchase price of an asset to
satisfy warrants or other unperformed obligations of the seller of such asset.

“Interest Period” shall mean, with respect to
any Term Loan or Revolving Credit Loan, the interest period applicable thereto,
as determined pursuant to Section 2.9.

“Interest Rate Hedging Agreement” shall mean
any swap, cap, collar, future, option or similar agreement entered into by the
Borrower or any Restricted Subsidiary in the ordinary course of business and
not for speculative purposes in order to protect the Borrower or such
Restricted Subsidiary against fluctuations in interest rates.

“Investment” shall have the meaning provided in
Section 10.5.

“IPO” shall mean, with respect to any Person, a
registered initial public offering of the Capital Stock of such Person (other
than on Form S-8).

“Joinder Agreement” shall mean an agreement
substantially in the form of Exhibit J-1 or J-2, as the case may be.

“Lender” shall have the meaning provided in the
preamble to this Agreement.

“Lender Consent Letters” shall mean the lender
consent letters authorizing the amendment and restatement of the Original
Credit Agreement and in the case of Continuing Lenders, agreeing to convert all
or a portion of the Original Term Loans needed by such Lender to Tranche C Term
Loans.

 21
 

“Lender Counterparty”
shall mean each Agent or Lender
or any Affiliate of an Agent or Lender that is a counterparty to a Hedging
Agreement (including any Person who is an Agent or Lender (and any Affiliate
thereof) as of the Closing Date but subsequently, whether before or after
entering into a Hedging Agreement, ceases to be a Lender).

“Lender Default” shall mean (a) the
failure (which has not been cured) of a Lender to make available its portion of
any Borrowing or to fund its portion of any unreimbursed payment under
Section 3.4 or (b) a Lender having notified the Administrative Agent
and/or the Borrower that it does not intend to comply with the obligations
under Section 2.1, 3.3 or 3.4, in the case of either
clause (a) or clause (b) above, as a result of the
appointment of a receiver or conservator with respect to such Lender at the
direction or request of any regulatory agency or authority.

“Letter of Credit” shall have the meaning
provided in Section 3.1(a).

“Letter of Credit Commitment” shall mean
$50,000,000, as the same may be reduced from time to time pursuant to
Section 4.2.

“Letter of Credit Exposure” shall mean, with
respect to any Lender, at any time, the sum of (a) the amount of any Unpaid
Drawings in respect of which such Lender has made (or is required to have made)
Revolving Credit Loans pursuant to Section 3.4(a) at such time and
(b) such Lender’s Revolving Credit Commitment Percentage of the Letters of
Credit Outstanding at such time (excluding the portion thereof consisting of
Unpaid Drawings in respect of which the Lenders have made (or are required to
have made) Revolving Credit Loans pursuant to Section 3.4(a)).

“Letter of Credit Fee” shall have the meaning
provided in Section 4.1(c).

“Letter of Credit Issuer” shall mean MSSF, any
of its Affiliates and any one or more Persons who shall become a Letter of
Credit Issuer pursuant to Section 3.6.

“Letter of Credit Participant” shall have the
meaning provided in Section 3.3(a).

“Letter of Credit Participation” shall have the
meaning provided in Section 3.3(a).

“Letter of Credit Request” shall have the
meaning provided in Section 3.2(a).

“Letters of Credit Outstanding” shall mean, at
any time, the sum of, without duplication, (a) the aggregate Stated Amount
of all outstanding Letters of Credit and (b) the aggregate amount of all
Unpaid Drawings in respect of all Letters of Credit.

“Level I Status” shall mean, on any date,
the Consolidated Total Debt to Consolidated EBITDA Ratio as of such date is
greater than 5.75:1.00.

“Level II Status” shall mean, on any date,
the Consolidated Total Debt to Consolidated EBITDA Ratio as of such date is
less than or equal to 5.75:1.00.

 22
 

“Lien” shall mean any mortgage, pledge,
security interest, hypothecation, assignment, lien (statutory or other) or
similar encumbrance, and any easement, right-of-way, license, restriction
(including zoning restrictions), defect, exception or irregularity in title or
similar change or encumbrance (including any agreement to give any of the
foregoing, any conditional sale or other title retention agreement or any lease
in the nature thereof).

“Loan” shall mean any Revolving Credit Loan,
New Revolving Swingline Loan, Tranche C Term Loan or New Term Loan made by any
Lender hereunder.

“Management Group” shall mean, at any time, the
Chairman of the Board, any President, any Executive Vice President or Vice
President, any Managing Director, any Treasurer and any Secretary of Holdings,
the Borrower or any Restricted Subsidiary at such time.

“Management Investors” shall mean the
management officers, directors and employees of Holdings, the Borrower and the
Restricted Subsidiaries who became investors in Holdings, the Borrower or any
of their direct or indirect parent entities on or before the date that was 12
months after the to Closing Date.

“Mandatory Borrowing” shall have the meaning
provided in Section 2.1(e)(ii).

“Margin Line of Credit” shall mean any lines of
credit established consistent with past business practices and used by the
Borrower and its Subsidiaries in the ordinary course of business and to fund or
support Margin Loans of customers of the Borrower and its Subsidiaries and any
replacement lines established on substantially similar terms and conditions.

“Margin Loans” as defined in Regulation T.

“Material Adverse Change” shall mean any change
in the business, assets, operations, properties or financial condition of the
Borrower and its Subsidiaries, taken as a whole, that would materially
adversely affect the ability of the Borrower and the other Credit Parties,
taken as a whole, to perform their obligations under this Agreement or any of
the other Credit Documents.

“Material Adverse Effect” shall mean a
circumstance or condition affecting the business, assets, operations,
properties or financial condition of the Borrower and its Subsidiaries, taken
as a whole, that would materially adversely affect (a) the ability of the
Borrower and the other Credit Parties, taken as a whole, to perform their
obligations under this Agreement or any of the other Credit Documents or
(b) the rights and remedies of the Administrative Agent and the Lenders
under this Agreement or any of the other Credit Documents.

“Material Subsidiary” shall mean, at any date
of determination, each Restricted Subsidiary of the Borrower (a) whose
total assets at the last day of the Test Period ending on the last day of the
most recent fiscal period for which Section 9.1 Financials have been
delivered were equal to or greater than 5% of the Consolidated Total Assets of
the Borrower and the Restricted Subsidiaries at such date or (b) whose
gross revenues for such Test Period were equal to or greater than 5% of the
consolidated gross revenues of the Borrower and the Restricted Subsidiaries for
such period, in each case determined in accordance with GAAP.

 23
 

“Maturity Date” shall mean the Tranche C Term
Loan Maturity Date, the New Term Loan Maturity Date, the Revolving Credit
Maturity Date, or the Swingline Maturity Date, as applicable.

“Mezz Participants” shall mean the holders of
the Senior Unsecured Subordinated Notes who hold any equity stake in Holdings
or the Borrower.

“Minimum Borrowing Amount” shall mean
(a) with respect to a Borrowing of Term Loans or Revolving Credit Loans,
$1,000,000 and (b) with respect to a Borrowing of Swingline Loans,
$100,000.

“Minority Investment” shall mean any Person
(other than a Subsidiary) in which the Borrower or any Restricted Subsidiary
owns Capital Stock.

“Moody’s” shall mean Moody’s Investors Service,
Inc. or any successor by merger or consolidation to its business.

“Mortgage” shall mean a Mortgage or Deed of
Trust, Assignment of Leases and Rents, Security Agreement and Financing
Statement or other security document entered into by the owner of a Mortgaged
Property and the Collateral Agent for the benefit of the Secured Parties in
respect of that Mortgaged Property, substantially in the form of Exhibit C or,
in the case of any Mortgaged Property located outside the United States of
America, in such form as agreed between the Borrower and the Collateral Agent,
as the same may be amended, supplemented or otherwise modified from time to
time in accordance with the terms thereof and of the other Credit Documents.

“Mortgaged Property” shall mean, initially, the
parcel of real estate and the improvements thereto owned by a Credit Party and
identified on Schedule 1.1(a), and thereafter, each other parcel of real
property and improvements thereto with respect to which a Mortgage is granted
pursuant to Section 9.14(b).

“MS” shall have the meaning provided in the
preamble to this Agreement.

“MSSF” shall have the meaning provided in the
preamble to this Agreement.

“Net Cash Proceeds” shall mean, with respect to
any Prepayment Event, (a) the gross cash proceeds (including payments from
time to time in respect of installment obligations, if applicable) received by
or on behalf of the Borrower or any of the Restricted Subsidiaries in respect
of such Prepayment Event, less (b) the sum of:

(i)                                     in
the case of any Prepayment Event, the amount, if any, of all taxes paid or
estimated to be payable by Holdings, the Borrower or any of the Restricted
Subsidiaries in connection with such Prepayment Event,

(ii)                                  in
the case of any Prepayment Event, the amount of any reasonable reserve
established in accordance with GAAP against any liabilities (other than any
taxes deducted pursuant to clause (i) above) (x) associated with the
assets that are the subject of such Prepayment Event and (y) retained by
Holdings, the Borrower or any of the Restricted

 24
 

Subsidiaries; provided, that the amount of
any subsequent reduction of such reserve (other than in connection with a
payment in respect of any such liability) shall be deemed to be Net Cash
Proceeds of such Prepayment Event occurring on the date of such reduction,

(iii)                               in the case of any
Prepayment Event, the amount of any Indebtedness secured by a Lien on the
assets that are the subject of such Prepayment Event to the extent that the
instrument creating or evidencing such Indebtedness requires that such
Indebtedness be repaid upon consummation of such Prepayment Event and such
Indebtedness is actually so repaid,

(iv)                              in
the case of any Asset Sale Prepayment Event (other than a transaction permitted
by Section 10.4(d)(ii)) or Permitted Sale Leaseback, the amount of any proceeds
of such Asset Sale Prepayment Event or such Permitted Sale Leaseback that the
Borrower or the applicable Restricted Subsidiary has reinvested (or intends to
reinvest), or has entered into an Acceptable Reinvestment Commitment to
reinvest, within the Reinvestment Period, in the business of the Borrower or
any of the Restricted Subsidiaries (subject to Section 9.13); provided, that:

(A)                              the
Borrower or the applicable Restricted Subsidiary shall comply with Sections
9.11, 9.12 and 9.14(b) with respect to such reinvestment;

(B)                                any
portion of such proceeds that has not been so reinvested or made subject to an
Acceptable Reinvestment Commitment within the Reinvestment Period shall
(x) be deemed to be Net Cash Proceeds of an Asset Sale Prepayment Event or
Permitted Sale Leaseback occurring on the last day of the Reinvestment Period
and (y) be applied to the repayment of Term Loans in accordance with
Section 5.2(a)(i); and

(C)                                any
proceeds subject to an Acceptable Reinvestment Commitment that is later canceled
or terminated for any reason before such proceeds are applied in accordance
therewith shall be applied to the repayment of Term Loans in accordance with
Section 5.2(a)(i), unless the Borrower or the applicable Restricted
Subsidiary enters into another Acceptable Reinvestment Commitment with respect
to such proceeds prior to the end of the Reinvestment Period,

(v)                                 in
the case of any Recovery Prepayment Event, the amount of any proceeds of such
Recovery Prepayment Event (x) that the Borrower or the applicable Restricted
Subsidiary has reinvested (or intends to reinvest), or has entered into an
Acceptable Reinvestment Commitment to reinvest, within the Reinvestment Period,
in the business of the Borrower or any of the Restricted Subsidiaries (subject
to Section 9.13), including for the repair, restoration or replacement of
the asset or assets subject to such Recovery Prepayment Event, or (y) for which
the Borrower or the applicable Restricted Subsidiary has provided a Restoration
Certification; provided, that:

(A)                              the
Borrower or the applicable Restricted Subsidiary shall comply with Sections
9.11, 9.12 and 9.14(b) with respect to such reinvestment;

(B)                                any
portion of such proceeds that has not been so reinvested or made subject to an
Acceptable Reinvestment Commitment or Restoration Certification within

 25
 

the Reinvestment Period
shall (x) be deemed to be Net Cash Proceeds of a Recovery Prepayment Event
occurring on the last day of the Reinvestment Period and (y) be applied to
the repayment of Term Loans in accordance with Section 5.2(a)(i), as
applicable; and

(C)                                any
proceeds subject to an Acceptable Reinvestment Commitment that is later
canceled or terminated for any reason before such proceeds are applied in
accordance therewith shall be applied to the repayment of Term Loans in
accordance with Section 5.2(a)(i), unless the Borrower or the applicable
Restricted Subsidiary enters into another Acceptable Reinvestment Commitment
with respect to such proceeds prior to the end of the Reinvestment Period,

(vi)                              in
the case of any Prepayment Event, reasonable and customary fees, commissions,
expenses, issuance costs, discounts and other costs paid by Holdings, the
Borrower or any of the Restricted Subsidiaries, as applicable, in connection
with such Prepayment Event (other than those payable to Holdings, the Borrower
or any Subsidiary of the Borrower), in each case only to the extent not already
deducted in arriving at the amount referred to in clause (a) above.

“Net Working Capital” shall mean, at any date, the excess of (a)
the cumulative sum of all amounts that would in conformity with GAAP constitute
“assets” on the consolidated balance sheet of the Borrower and its Restricted
Subsidiaries at such date, excluding assets constituting (i) cash, cash
equivalents and bank overdrafts, other than all Required Cash of all such
Persons as at such date (which shall be included as part of Net Working
Capital), (ii) taxes receivable and deferred income taxes of all such
Persons, (iii) property, plant and equipment of all such Persons and
(iv) goodwill and intangibles of all such Persons, over (b) the cumulative
sum of all amounts that would, in conformity with GAAP, constitute “liabilities”
on the consolidated balance sheet of the Borrower and its Restricted
Subsidiaries on such date, excluding (i) all Indebtedness, other than
Indebtedness under Margin Lines of Credit and under Warehouse Lines of Credit
(which shall be included as part of Net Working Capital), (ii) taxes payable
and deferred income taxes of all such Persons, (iii) stockholder’s equity
of all such Persons and (iv) dividends payable of all such Persons.

“New Letter of
Credit Exposure” shall have the meaning provided in Section 2.14(b).

“New
Commitments” shall have the meaning provided in Section 2.14(a).

“New Term Loan Commitments” shall have the
meaning provided in Section 2.14(a).

“New Term Loan Facility” shall mean any credit
facility constituting New Term Loan Commitments and New Term Loans.

“New Term Loan Lender” shall have the meaning
provided in Section 2.14(b).

“New Term Loans” shall have the meaning
provided in Section 2.14(b).

 26
 

“New Term Loan Maturity Date” shall mean the
date on which a New Term Loan matures.

“Non-Defaulting Lender” shall mean and include
each Lender other than a Defaulting Lender.

“Non-Excluded Taxes” shall have the meaning
provided in Section 5.4(a).

“Notes Offering” shall have the meaning
provided in the recitals to this Agreement.

“Notice of Borrowing” shall have the meaning
provided in Section 2.3.

“Notice of Conversion or Continuation” shall
have the meaning provided in Section 2.6.

“Obligations” shall mean the collective reference to
(a) the due and punctual payment of (i) the principal of and premium,
if any, and interest at the applicable rate provided in this Agreement
(including interest accruing during the pendency of any bankruptcy, insolvency,
receivership or other similar proceeding, regardless of whether allowed or
allowable in such proceeding) on the Loans, when and as due, whether at
maturity, by acceleration, upon one or more dates set for prepayment or
otherwise, (ii) each payment required to be made by the Borrower under
this Agreement in respect of any Letter of Credit, when and as due, including
payments in respect of reimbursement of disbursements, interest thereon and
obligations to provide cash collateral, and (iii) all other monetary obligations,
including fees, costs, expenses and indemnities, whether primary, secondary,
direct, contingent, fixed or otherwise (including monetary obligations incurred
during the pendency of any bankruptcy, insolvency, receivership or other
similar proceeding, regardless of whether allowed or allowable in such
proceeding), of the Borrower or any other Credit Party to any of the Secured
Parties under this Agreement and the other Credit Documents, (b) the due
and punctual performance of all covenants, agreements, obligations and
liabilities of the Borrower under or pursuant to this Agreement and the other
Credit Documents, (c) the due and punctual payment and performance of all
the covenants, agreements, and liabilities of each other Credit Party under or
pursuant to this Agreement or the other Credit Documents, (d) the due and
punctual payment and performance of all obligations of each Credit Party under
each Hedging Agreement with a Lender Counterparty and (e) the due and
punctual payment and performance of all obligations in respect of overdrafts
and related liabilities owed to the Administrative Agent or its affiliates
arising from or in connection with treasury, depositary or cash management
services or in connection with any automated clearinghouse transfer of funds.

“OCC” shall mean the
Office of the Comptroller of the Currency.

“OCC-Regulated Subsidiary” shall mean any Subsidiary of the
Borrower that is regulated by the OCC.

“OCC-Regulated Subsidiary Required Cash” shall mean, as of any
date of determination, (a) all cash and cash equivalents on the balance sheet
of any OCC-Regulated Subsidiary as of such date minus (b) all Indebtedness on
the balance sheet of any OCC-Regulated

 27
 

Subsidiary as of such date minus (c) the difference of (i) the
Risk-Based Capital (as referenced in 12 U.S.C. Section 282) of any
OCC-Regulated Subsidiary as of such date and (ii) $4,000,000 (or such other
amount that is required by the OCC or otherwise agreed to by any OCC-Regulated
Subsidiary and the OCC).

“Original Collateral” shall have the meaning provided in the
recitals to this Agreement.

“Original Credit Agreement” shall have the
meaning provided in the recitals to this Agreement.

“Original Credit Documents” shall have the meaning provided in
the recital to this Agreement.

“Original Lenders” shall have the meaning
provided in the recitals hereto.

“Original Obligations” shall have the meaning provided in the
recitals to this Agreement.

“Original Term Loans” shall have the meaning
provided in the recitals hereto.

“Participant” shall have the meaning provided
in Section 13.6(c)(i).

“PBGC” shall mean the Pension Benefit Guaranty
Corporation established pursuant to Section 4002 of ERISA, or any
successor thereto.

“Perfection Certificate” shall mean the
certificate of the Borrower delivered on the Closing Date in substantially the
form of Exhibit D and attached to the Original Credit Agreement.

“Permitted Acquisition” shall mean (a) the
UVEST Acquisition and (b) any other acquisition, by merger or otherwise,
by the Borrower or any of the Restricted Subsidiaries of assets or Capital
Stock, so long as (i) such acquisition and all transactions related
thereto shall be consummated in accordance with all Applicable Laws; (ii) such
acquisition shall result in the issuer of such Capital Stock becoming a
Restricted Subsidiary and, to the extent required by Section 9.11, a
Guarantor; (iii) such acquisition shall result in the Collateral Agent,
for the benefit of the Secured Parties, being granted a security interest in
any Capital Stock or any assets so acquired to the extent required by Sections
9.11, 9.12 and/or 9.14(b); (iv) after giving effect to such acquisition,
no Default or Event of Default shall have occurred and be continuing;
(v) after giving effect to such acquisition, the Borrower and its
Restricted Subsidiaries shall be in compliance with Section 9.13;
(vi) the Borrower shall be in compliance, on a pro forma basis after
giving effect to such acquisition (including any Indebtedness assumed or
permitted to exist or incurred pursuant to Sections 10.1(j) and 10.1(k),
respectively, and any related Pro Forma Adjustment), with the covenants set
forth in Sections 10.9 and 10.10, as such covenants are recomputed as at
the last day of the most recently ended Test Period under such Sections as if
such acquisition had occurred on the first day of such Test Period.

 28

“Permitted Additional Notes” shall mean senior,
mezzanine or subordinated notes issued by Holdings or the Borrower; provided,
that (a) the terms of such notes do not provide for any scheduled
repayment, mandatory redemption, sinking fund obligation or other payment prior
to the Senior Unsecured Subordinated Note Maturity Date, other than customary
offers to purchase upon a change of control, asset sale or casualty or
condemnation event and customary acceleration rights upon an event of default,
(b) the covenants, events of default, Subsidiary guarantees and other
terms for such notes (provided that such notes shall have interest rates
and redemption premiums determined by the Board of Directors of Holdings or the
Borrower, as applicable to be market rates and premiums at the time of issuance
of such notes), taken as a whole, are not more restrictive on Holdings, the
Borrower and their Subsidiaries, or less favorable to the Lenders, taken as a
whole, than the terms of the Senior Unsecured Subordinated Notes (as in effect
on the Effective Date), (c) if such notes are subordinated notes, the
terms of such notes provide for customary subordination of such notes to the
Obligations and (d) no Subsidiary of Holdings or the Borrower (other than
the Borrower or a Guarantor) is an obligor under such notes that is not an
obligor under the Senior Unsecured Subordinated Notes.

“Permitted Cure Security” shall mean an equity
security of Holdings or the Borrower having no mandatory redemption, repurchase
or similar requirements prior to 91 days after the latest maturity date for any
of the Loans, and upon which all dividends or distributions (if any) shall be
payable solely in additional shares of such equity security.

“Permitted Investments” shall mean
(a) Dollars and, with respect to any Foreign Subsidiaries, local
currencies held by such Foreign Subsidiary, in each case in the ordinary course
of business and securities issued or unconditionally guaranteed by the United
States government or any agency or instrumentality thereof, in each case having
maturities of not more than 24 months from the date of acquisition thereof;
(b) securities issued by any state of the United States of America or any
political subdivision of any such state or any public instrumentality thereof
or any political subdivision of any such state or any public instrumentality
thereof having maturities of not more than 24 months from the date of
acquisition thereof and, at the time of acquisition, having an investment grade
rating generally obtainable from either S&P or Moody’s (or, if at any time
neither S&P nor Moody’s shall be rating such obligations, then from another
nationally recognized rating service); (c) commercial paper or variable or
fixed rate notes issued by or  guaranteed by
any Lender or any bank holding company owning any Lender; (d) commercial
paper or variable or fixed rate notes maturing no more than 12 months
after the date of creation thereof and, at the time of acquisition, having a
rating of at least A-2 or P-2 from either S&P or Moody’s (or, if at any
time neither S&P nor Moody’s shall be rating such obligations, an
equivalent rating from another nationally recognized rating service);
(e) time deposits of, or domestic and Eurodollar certificates of deposit
or bankers’ acceptances maturing no more than two years after the date of
acquisition thereof, issued by any Lender or any other bank having combined
capital and surplus of not less than $250,000,000 in the case of domestic banks
and $100,000,000 (or the dollar equivalent thereof) in the case of foreign
banks; (f) repurchase agreements with a term of not more than 30 days
for underlying securities of the type described in clauses (a), (b) and
(e) above entered into with any bank meeting the qualifications specified in
clause (e) above or securities dealers of recognized national standing;
(g) marketable short-term money market and similar securities having a
rating of at least A-2 or P-2 from either S&P or Moody’s (or, if at any
time neither S&P nor Moody’s shall be rating such obligations, an
equivalent rating from another nationally recognized rating

 29
 

service); (h) shares of investment companies that
are registered under the Investment Company Act of 1940 and invest solely in
one or more of the types of securities described in clauses (a) through
(g) above; and (i) in the case of investments by any Restricted
Foreign Subsidiary or investments made in a country outside the United States
of America, other customarily utilized high-quality investments in the country
where such Restricted Foreign Subsidiary is located or in which such investment
is made.

“Permitted Investors” shall mean the Sponsors,
the Mezz Participants and the Management Investors.

“Permitted Liens” shall mean (a) Liens for
taxes, assessments or other governmental charges or claims that are either
(i) not yet due and payable and not subject to penalties for nonpayment or
(ii) being contested in good faith by appropriate proceedings for which
appropriate reserves have been established in accordance with GAAP; (b) Liens
in respect of property or assets of Holdings, the Borrower or any of its
Subsidiaries imposed by law, such as landlords’, carriers’, warehousemen’s and
mechanics’ Liens and other similar Liens, in each case so long as such Liens
arise in the ordinary course of business and do not individually or in the
aggregate have a Material Adverse Effect; (c) Liens arising from judgments
or decrees in circumstances not constituting an Event of Default under
Section 11.10; (d) Liens incurred or pledges or deposits made in connection
with workers’ compensation, unemployment insurance and other types of social
security legislation, or to secure the performance of tenders, statutory
obligations, surety and appeal bonds, bids, leases, government contracts, trade
contracts, performance and return-of-money bonds and other similar obligations
incurred in the ordinary course of business; (e) ground leases or
subleases, licenses or sublicenses in respect of real property on which
facilities owned or leased by Holdings, the Borrower or any of its Subsidiaries
are located; (f) easements, rights-of-way, licenses, restrictions
(including zoning restrictions), minor defects, exceptions or irregularities in
title and other similar charges or encumbrances, in each case not interfering
in any material respect with the business of Holdings, the Borrower and its
Subsidiaries, taken as a whole, and any exception on the title policies issued
in connection with any Mortgaged Property; (g) any interest or title of a
lessor or secured by a lessor’s interest under any lease permitted by this
Agreement; (h) Liens in favor of customs and revenue authorities arising
as a matter of law to secure payment of customs duties in connection with the
importation of goods; (i) Liens on goods or inventory the purchase,
shipment or storage price of which is financed by a documentary letter of
credit or bankers’ acceptance issued or created for the account of the Borrower
or any of its Subsidiaries, provided that such Lien secures only the
obligations of the Borrower or such Subsidiaries in respect of such letter of
credit to the extent permitted under Section 10.1; (j) leases or
subleases, licenses or sublicenses granted to others not interfering in any
material respect with the business of the Borrower and its Subsidiaries, taken
as a whole; (k) Liens created in the ordinary course of business in favor
of banks and other financial institutions over credit balances of any bank
accounts of Holdings, the Borrower and the Restricted Subsidiaries held at such
banks or financial institutions, as the case may be, to facilitate the
operation of cash pooling and/or interest set-off arrangements in respect of
such bank accounts in the ordinary course of business; (l)  any interest
or title of a lessor, sublessor, licensor or sub licensor under leases entered
into in the ordinary course of business; and (m) Liens arising from
precautionary Uniform Commercial Code financing statement or similar filings
made in respect of operating leases entered into by the Borrower or any of its
Subsidiaries.

 30
 

“Permitted Sale Leaseback” shall mean the Sale
Leaseback consummated by the Borrower or any of the Restricted Subsidiaries
after the Closing Date with respect to the Borrower’s property listed on
Schedule 1.1(a).

“Person” shall mean any individual,
partnership, joint venture, firm, corporation, limited liability company,
association, trust or other enterprise or any Governmental Authority.

“Plan” shall mean any multiemployer or
single-employer plan, as defined in Section 4001 of ERISA and subject to
Title IV of ERISA, that is or was within any of the preceding five plan years
maintained or contributed to by (or to which there is or was an obligation to
contribute or to make payments to) the Borrower, a Subsidiary or an ERISA
Affiliate.

“Pledge Agreement” shall mean the Pledge
Agreement, dated as of the Closing Date, among Borrower, the other pledgors
party thereto and the Collateral Agent for the benefit of the Secured Parties,
substantially in the form of Exhibit E-2 attached to the Original Credit
Agreement, as the same has been or may be amended, supplemented or otherwise
modified from time to time in accordance with the terms thereof and of the
other Credit Documents.

“Prepayment Event” shall mean any Asset Sale
Prepayment Event, Recovery Prepayment Event, Debt Incurrence Prepayment Event
or Permitted Sale Leaseback.

“Prime Rate” shall mean the rate of interest
per annum publicly announced from time to time by The Bank of New York as its
reference rate in effect at its principal office in New York City.

“Pro Forma Adjustment” shall mean, for any Test
Period that includes any of the six consecutive fiscal quarters first ending
following any Permitted Acquisition, with respect to the Acquired EBITDA of the
applicable Acquired Entity or Business or the Consolidated EBITDA of the
Borrower affected by such acquisition, the pro forma increase or decrease in
such Acquired EBITDA or such Consolidated EBITDA, as the case may be, projected
by the Borrower in good faith as a result of reasonably identifiable and
factually supportable cost savings and costs (excluding one-time transition,
transaction and restructuring costs), as the case may be, expected to be
realized during such period by combining the operations of such Acquired Entity
or Business with the operations of the Borrower and its Subsidiaries; provided,
further that any such pro forma increase or decrease to such Acquired
EBITDA or such Consolidated EBITDA, as the case may be, shall be without
duplication for cost savings and costs (excluding one-time transition,
transaction and restructuring costs) actually realized during such period and
already included in such Acquired EBITDA or such Consolidated EBITDA, as the
case may be.

“Pro Forma Adjustment Certificate” shall mean
any certificate of an Authorized Officer of the Borrower delivered pursuant to
Section 9.1(h) or setting forth the information described in
clause (iv) to Section 9.1(d).

“Real Estate” shall have the meaning provided
in Section 9.1(f).

 31
 

“Reaffirmation Agreement” shall mean that certain
Reaffirmation Agreement, dated as of the Effective Date, by and among the
Credit Parties, the Administrative Agent and the Collateral Agent, pursuant to
which the Credit Parties acknowledged and confirmed the full force and effect
of the Security Documents and the Guarantee with respect to this Agreement and
the Obligations.

“Recovery Event” shall mean (a) any damage
to, destruction of or other casualty or loss involving any property or asset or
(b) any seizure, condemnation, confiscation or taking under the power of
eminent domain of, or any requisition of title or use of or relating to, or any
similar event in respect of, any property or asset.

“Recovery Prepayment Event” shall mean the
receipt of cash proceeds with respect to any settlement or payment in
connection with any Recovery Event in respect of any property or asset of the
Borrower or any Restricted Subsidiary; provided that the term “Recovery
Prepayment Event” shall not include any Asset Sale Prepayment Event or any
Permitted Sale Leaseback.

“Reference Lender” shall mean The Bank of New
York.

“Refinanced Senior Unsecured Subordinated Notes”
shall have the meaning provided in Section 10.1(i)(i).

“Refinanced Term Loans” shall have the meaning
provided in Section 13.1.

“Refinancing” shall have the meaning provided
in the recitals to this Agreement.

“Register” shall have the meaning provided in
Section 13.6(b)(iv).

“Regulated Subsidiaries” shall mean the
Broker-Dealer Regulated Subsidiary, the HUD-Regulated Subsidiary and any
OCC-Regulated Subsidiary.

“Regulation D” shall mean Regulation D of the
Board as from time to time in effect and any successor to all or a portion
thereof establishing reserve requirements.

“Regulation T” shall mean Regulation T of the
Board as from time to time in effect and any successor to all or a portion
thereof establishing margin requirements.

“Regulation U” shall mean Regulation U of the
Board as from time to time in effect and any successor to all or a portion
thereof establishing margin requirements.

“Regulation X” shall mean Regulation X of the
Board as from time to time in effect and any successor to all or a portion
thereof establishing margin requirements.

“Reinvestment Period” shall mean, with respect
to any Asset Sale Prepayment Event, Permitted Sale Leaseback or Recovery
Prepayment Event, the day which is fifteen months after such Asset Sale
Prepayment Event, Permitted Sale Leaseback or Recovery Prepayment Event.

 32
 

“Related Parties” shall mean, with respect to
any specified Person, such Person’s Affiliates and the directors, officers,
employees, agents, trustees, advisors of such Person and any Person that
possesses, directly or indirectly, the power to direct or cause the direction
of the management or policies of such Person, whether through the ability to
exercise voting power, by contract or otherwise.

“Replacement Term Loans” shall have the meaning
provided in Section 13.1.

“Reportable Event” shall mean an event
described in Section 4043 of ERISA and the regulations thereunder.

“Required Cash” shall mean the sum of Broker-Dealer Required
Cash, OCC-Regulated Subsidiary Required Cash and HUD-Regulated Subsidiary
Required Cash; provided, that to the extent, after the Closing Date, the
Borrower or any of its Subsidiaries shall acquire or create any new “regulated”
Domestic Subsidiary that shall not be required to guaranty the Obligations
pursuant to the Guaranty, then the definition of “Required Cash” shall also
include the required cash of any such Person, which required cash shall be
calculated in a substantially equivalent manner as Broker-Dealer Required Cash,
OCC-Regulated Subsidiary Required Cash and HUD-Regulated Subsidiary Required
Cash have been calculated and otherwise in a manner mutually agreed between the
Borrower and the Administrative Agent.

“Required Lenders” shall mean, at any date,
Non-Defaulting Lenders having or holding a majority of the sum of (a) the
outstanding principal amount of the Tranche C Term Loans in the aggregate at
such date, (b)(i) until the Increased Amount Date for any Series, the Adjusted
Total New Term Loan Commitment for such Series and (ii) thereafter, the
outstanding principal amount of the New Term Loans of such Series in the
aggregate at such date and (c)(i) the Adjusted Total Revolving Credit
Commitment at such date or (ii) if the Total Revolving Credit Commitment
has been terminated or for the purposes of acceleration pursuant to
Section 11, the outstanding principal amount of the Revolving Credit Loans
and Letter of Credit Exposures in the aggregate at such date.

“Required Reimbursement Date” shall have the
meaning provided in Section 3.4(a).

“Required Revolving Credit Lenders” shall mean,
at any date, Non-Defaulting Lenders having or holding a majority of
(a) the Adjusted Total Revolving Credit Commitment at such date or
(b) if the Total Revolving Credit Commitment has been terminated or for
the purposes of acceleration pursuant to Section 11, the outstanding
amount of the Revolving Credit Exposures in the aggregate at such date.

“Required Term Loan Lenders” shall mean, at any
date, Non-Defaulting Lenders having or holding a majority of the outstanding
principal amount of the Term Loans in the aggregate at such date.

“Restoration Certification” shall mean, with
respect to any Recovery Prepayment Event, a certification made by an Authorized
Officer of the Borrower or a Restricted Subsidiary, as applicable, to the
Administrative Agent prior to the end of the Reinvestment Period certifying
(a) that the Borrower or such Restricted Subsidiary intends to use the
proceeds received in

 33
 

connection with such Recovery Prepayment Event to
repair, restore or replace the property or assets in respect of which such
Recovery Prepayment Event occurred, (b) the approximate costs of
completion of such repair, restoration or replacement and (c) that such
repair, restoration or replacement will be completed within fifteen months
after the date on which such Recovery Prepayment Event occurred.

“Restricted Domestic Subsidiary” shall mean
each Restricted Subsidiary that is also a Domestic Subsidiary.

“Restricted Foreign Subsidiary” shall mean each
Restricted Subsidiary that is also a Foreign Subsidiary.

“Restricted Subsidiary” shall mean any
Subsidiary of the Borrower other than an Unrestricted Subsidiary.

 “Revolving
Credit Commitment” shall mean, (a) with respect to each Lender that
was a Lender on the Closing Date, the amount set forth opposite such Lender’s
name on Schedule 1.1(b) as such Lender’s “Revolving Credit Commitment”,
(b) in the case of any Lender that becomes a Lender after the date hereof,
the amount specified as such Lender’s “Revolving Credit Commitment” in the
Assignment and Acceptance pursuant to which such Lender assumed a portion of
the Total Revolving Credit Commitment and (c) in the case of any Lender that
increases its Revolving Credit Commitment or becomes a Revolving Credit
Increase Lender, in each case pursuant to Section 2.14, the amount specified in
such Lender’s Joinder Agreement, in each case as the same may be changed from
time to time pursuant to terms hereof. 
The aggregate amount of the Revolving Credit Commitments as of the
Closing Date was $100,000,000.

“Revolving Credit Commitment Percentage” shall
mean at any time, for each Lender, the percentage obtained by dividing
(a) such Lender’s Revolving Credit Commitment by (b) the aggregate
amount of the Revolving Credit Commitments; provided that at any time
when the Total Revolving Credit Commitment shall have been terminated, each
Lender’s Revolving Credit Commitment Percentage shall be its Revolving Credit
Commitment Percentage as in effect immediately prior to such termination.

“Revolving Credit Exposure” shall mean, with
respect to any Lender at any time, the sum of (a) the aggregate principal
amount of the Revolving Credit Loans of such Lender then outstanding and
(b) such Lender’s Letter of Credit Exposure at such time.

“Revolving Credit Facility” shall have the
meaning provided in the recitals to this Agreement.

“Revolving Credit Increase Lender” shall have
the meaning provided in Section 2.14(b).

“Revolving Credit Loan” shall have the meaning
provided in Section 2.1(c).

“Revolving Credit Increase” shall have the
meaning provided in Section 2.14(a).

 34
 

“Revolving Credit Maturity Date” shall mean the
date that is six years after the Closing Date, or, if such date is not a Business
Day, the next preceding Business Day.

“Sale Leaseback” shall mean any transaction or
series of related transactions pursuant to which the Borrower or any of the
Restricted Subsidiaries (a) sells, transfers or otherwise disposes of any
property, real or personal, whether now owned or hereafter acquired, and
(b) as part of such transaction, thereafter rents or leases such property
or other property that it intends to use for substantially the same purpose or
purposes as the property being sold, transferred or disposed of.

“S&P” shall mean Standard & Poor’s
Ratings Services or any successor by merger or consolidation to its business.

“SEC” shall mean the Securities and Exchange
Commission or any successor thereto.

“Section 9.1 Financials” shall mean the financial
statements delivered, or required to be delivered, pursuant to
Section 9.1(a) or (b) together with the accompanying officer’s
certificate delivered, or required to be delivered, pursuant to
Section 9.1(e).

“Secured Parties” shall have the meaning assigned
to such term in the Security Agreement.

“Security Agreement” shall mean the Security
Agreement, dated as of the Closing Date, among Borrower, the other grantors
party thereto and the Collateral Agent for the benefit of the Secured Parties,
substantially in the form of Exhibit E-1 attached to the Original Credit
Agreement, as the same has been or may be amended, supplemented or otherwise
modified from time to time in accordance with the terms thereof and of the
other Credit Documents.

“Security Documents” shall mean, collectively,
the Security Agreement, the Pledge Agreement, the Reaffirmation Agreement, the
Mortgages and each other security agreement or other instrument or document
executed and delivered pursuant to Section 9.11, 9.12 or 9.14 or pursuant
to any of the Security Documents to secure any of the Obligations.

“Segregated Cash” shall mean, as of any date of determination,
all cash and “qualified” cash equivalents segregated on the balance sheet of
the Broker-Dealer Regulated Subsidiary as of such date under Rule 15c3-3 of the
Exchange Act.

“Senior Unsecured Subordinated Note Indenture”
shall mean the Indenture, dated as of December 28, 2005, among the Borrower,
each of the guarantors party thereto and Wells Fargo Bank, N.A., as Trustee,
pursuant to which the Senior Unsecured Subordinated Notes are issued, as the
same may be amended, supplemented or otherwise modified from time to time to
the extent permitted by Section 10.7(c).

“Senior Unsecured Subordinated Note Maturity Date”
shall mean December 28, 2015.

 35
 

“Senior Unsecured Subordinated Notes” shall
have the meaning provided in the recitals to this Agreement.

“Series” shall have the meaning provided in
Section 2.14(a).

“Sold Entity or Business” shall have the
meaning provided in the definition of the term “Consolidated EBITDA”.

“Solvent” shall mean, with respect to any
Person, at any date, that (a) the sum of such Person’s debt (including
contingent liabilities) does not exceed the present fair saleable value of such
Person’s present assets, (b) such Person’s capital is not unreasonably
small in relation to its business as contemplated on such date, (c) such
Person has not incurred and does not intend to incur, or believe that it will
incur, debts including current obligations beyond its ability to pay such debts
as they become due (whether at maturity or otherwise), and (d) such Person
is “solvent” within the meaning given that term and similar terms under
applicable laws relating to fraudulent transfers and conveyances.  For purposes of this definition, the amount
of any contingent liability at any time shall be computed as the amount that,
in light of all of the facts and circumstances existing at such time,
represents the amount that can reasonably be expected to become an actual or
matured liability (irrespective of whether such contingent liabilities meet the
criteria for accrual under Statement of Financial Accounting Standard
No. 5).

“Specified Obligations” shall
mean Obligations consisting of (a) the principal of and interest on Loans
and (b) reimbursement obligations in respect of Letters of Credit.

“Specified Subsidiary” shall
mean, at any date of determination, (a) any Material Subsidiary or
(b) any Unrestricted Subsidiary (i) whose total assets at the last
day of the Test Period ending on the last day of the most recent fiscal period
for which Section 9.1 Financials have been delivered were equal to or
greater than 15% of the consolidated total assets of the Borrower and its
Subsidiaries at such date or (ii) whose gross revenues for such Test
Period were equal to or greater than 15% of the consolidated gross revenues of
the Borrower and its Subsidiaries for such period, in each case determined in
accordance with GAAP.

“Sponsors” shall mean, collectively, Hellmann
& Friedman LLC and Texas Pacific Group and/or their respective Affiliates.

“Stated Amount” of any Letter of Credit shall
mean the maximum amount from time to time available to be drawn thereunder,
determined without regard to whether any conditions to drawing could then be
met.

“Status” shall mean, as to the Borrower as of
any date, the existence of Level I Status or Level II Status, as the case
may be, on such date.  Changes in Status
resulting from changes in Consolidated Total Debt to Consolidated EBITDA Ratio
shall become effective as of the first Business Day following the delivery of
the Section 9.1 Financials.

“Statutory Reserve Rate” shall mean for any day
as applied to any Eurodollar Loan, a fraction (expressed as a decimal), the
numerator of which is the number one and the denominator of which is the number
one minus the aggregate of the maximum reserve percentages that are in effect
on that day (including any marginal, special, emergency or

 36
 

supplemental reserves), expressed as a decimal, as
prescribed by the Board and to which the Administrative Agent is subject, for
Eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in
Regulation D of the Board).  Such
reserve percentages shall include those imposed pursuant to such
Regulation D.  Eurodollar Loans shall
be deemed to constitute Eurocurrency funding and to be subject to such reserve
requirements without benefit of or credit for proration, exemptions or offsets
that may be available from time to time to any Lender under such
Regulation D or any comparable regulation. 
The Statutory Reserve Rate shall be adjusted automatically on and as of
the effective date of any change in any reserve percentage.

“Subsidiary” of any Person shall mean and
include (a) any corporation more than 50% of whose stock of any class or
classes having by the terms thereof ordinary voting power to elect a majority
of the directors of such corporation (irrespective of whether or not at the
time stock of any class or classes of such corporation shall have or might have
voting power by reason of the happening of any contingency) is at the time
owned by such Person directly or indirectly through Subsidiaries and
(b) any partnership, association, joint venture or other entity in which
such Person directly or indirectly through Subsidiaries has more than a 50%
equity interest at the time.  Unless
otherwise expressly provided, all references herein to a “Subsidiary” shall
mean a Subsidiary of the Borrower.

“Successor Borrower” shall have the meaning
provided in Section 10.3(a).

“Swingline Commitment” shall mean $50,000,000.

“Swingline Lender” shall mean MSSF in its
capacity as lender of Swingline Loans hereunder, or such other financial
institution who, after the date hereof, shall agree to act in the capacity of
lender of Swingline Loans hereunder.

“Swingline Loan” shall have the meaning
provided in Section 2.1(e)(i).

“Swingline Maturity Date” shall mean, with
respect to any Swingline Loan, the date that is five Business Days prior to the
Revolving Credit Maturity Date.

“Syndication Agent” shall mean GSCP, together
with its affiliates, as the syndication agent for the Lenders under this
Agreement and the other Credit Documents.

 “Term Loan”
shall mean a Tranche C Term Loan or a New Term Loan, as applicable.

“Test Period” shall mean, for any determination
under this Agreement, the four consecutive fiscal quarters of the Borrower then
last ended.

“Total Commitment” shall mean the sum of the
Total Tranche C Term Loan Commitment, the Total New Term Loan Commitment and
the Total Revolving Credit Commitment.

“Total Credit Exposure” shall mean, at any
date, the sum of the Total Commitment at such date and the outstanding
principal amount of all Term Loans at such date.

 37
 

“Total New Term Loan Commitment” shall mean the
sum of the New Term Loan Commitments of all the New Term Lenders.

“Total Revolving Credit Commitment” shall mean the sum of the
Revolving Credit Commitments of all the Lenders.

“Total Tranche C Term Loan Commitment” shall
mean the sum of the Tranche C Term Loan Commitments of all the Lenders.

“Tranche C Term Lender” shall mean each Lender
that has a Tranche C Term Loan Commitment or holds a Tranche C Term Loan.

“Tranche C Term Loan” shall have the meaning
provided in Section 2.1(a).

“Tranche C Term Loan Commitment” shall mean,
(a) in the case of each Lender that is a Lender on the date hereof, the
amount set forth opposite such Lender’s name on
Schedule 1.1(b) hereto or, in the case if any Continuing Lenders, on
the schedule to its Lender Consent Letter, in either case as such Lender’s “Tranche
C Term Loan Commitment” and (b) in the case of any Lender that becomes a
Lender after the date hereof, the amount specified as such Lender’s “Tranche C
Term Loan Commitment” in the Assignment and Acceptance pursuant to which such
Lender assumed a portion of the Total Tranche C Term Loan Commitment, in each
case as the same may be changed from time to time pursuant to the terms
hereof.  The aggregate amount of the
Tranche C Term Loan Commitments as of the Effective Date is $794,375,000.

“Tranche C Term Loan Facility” shall have the
meaning provided in the recitals to this Agreement.

“Tranche C Term Loan
Maturity Date” shall mean the date that is seven years and six months after
the Closing Date; provided, that if such date is not a Business Day, the
“Tranche C Term Loan Maturity Date” will be the next preceding Business Day.

“Tranche C Term Loan Repayment Amount” shall
have the meaning provided in Section 2.5(b).

“Tranche C Term Loan Repayment Date” shall have
the meaning provided in Section 2.5(b).

 “Transferee”
shall have the meaning provided in Section 13.6(e).

“Type” shall mean (a) as to any Term Loan,
its nature as an ABR Loan or a Eurodollar Term Loan, and (b) as to
any Revolving Credit Loan, its nature as an ABR Loan or a Eurodollar Revolving
Credit Loan.

“Unfunded Current Liability” of any Plan shall
mean the amount, if any, by which the present value of the accrued benefits
under the Plan as of the close of its most recent plan year, determined in
accordance with Statement of Financial Accounting Standards No. 87 as in effect
on the date hereof, based upon the actuarial assumptions that would be used by
the Plan’s actuary in a termination of the Plan, exceeds the fair market value
of the assets allocable thereto.

 38
 

“Unpaid Drawing” shall have the meaning
provided in Section 3.4(a).

“Unrestricted Subsidiary” shall mean
(a) any Subsidiary of Holdings or the Borrower that is formed or acquired
after the Closing Date and is designated as an Unrestricted Subsidiary by
Holdings or the Borrower at such time (or promptly thereafter) in a written
notice to the Administrative Agent, (b) any Restricted Subsidiary
subsequently re-designated as an Unrestricted Subsidiary by Holdings or the
Borrower in a written notice to the Administrative Agent; provided, that
(x) such designation or re-designation shall be deemed to be an investment (and
thus must be made in accordance with Section 10.5) on the date of such
designation or re-designation in an Unrestricted Subsidiary in an amount equal
to the sum of (i) Holdings’ or the Borrower’s direct or indirect equity
ownership percentage of the net worth of such designated or re-designated
Subsidiary immediately prior to such designation or re-designation (such net
worth to be calculated without regard to any guarantee provided by such
designated or re-designated Subsidiary) and (ii) the aggregate principal
amount of any Indebtedness owed by such designated or re-designated Subsidiary
to Holdings or the Borrower or any other Restricted Subsidiary immediately
prior to such designation or re-designation, all calculated, except as set
forth in the parenthetical to clause (i), on a consolidated basis in accordance
with GAAP and (y) no Default or Event of Default would result from such
designation or re-designation, and (c) each Subsidiary of an Unrestricted
Subsidiary; provided, however, that at the time of any written
designation or re-designation by Holdings, or the Borrower to the
Administrative Agent that any Unrestricted Subsidiary shall no longer
constitute an Unrestricted Subsidiary, such Unrestricted Subsidiary shall cease
to be an Unrestricted Subsidiary to the extent no Default or Event of Default
would result from such designation or re-designation.

“UVEST Acquisition” shall mean the acquisition
by Borrower or a (Restricted Subsidiary thereof) of all of the outstanding
Capital Stock of UVEST Financial Services Group Inc.

“Voting Stock” shall mean, with respect to any
Person, shares of such Person’s Capital Stock having the right to vote for the
election of directors of such Person under ordinary circumstances.

“Warehouse Line of Credit” shall mean any
warehouse lines of credit established consistent with past business practices
and used by the Borrower and its Subsidiaries in the ordinary course of
business to fund or support their mortgage lending business and any replacement
lines established on substantially similar terms and conditions.

(b)                                                                                 The
words “hereof,” “herein” and “hereunder” and words of similar import when used
in this Agreement shall refer to this Agreement as a whole and not to any
particular provision of this Agreement, and Section references are to Sections
of this Agreement unless otherwise specified. 
The words “include,” “includes” and “including” shall be deemed to be
followed by the phrase “without limitation”.

(c)                                                                                  Unless
otherwise indicated, any reference to any agreement or instrument will be
deemed to include a reference to that agreement or instrument as assigned,
amended, supplemented, amended and restated, or otherwise modified and in
effect from time to time or replaced in accordance with the terms of this
Agreement (if applicable).

 39

SECTION 2.                                Amount
and Terms of Credit Facilities

2.1                                 Loans  (a)  Subject to and upon terms and
conditions herein set forth including Section 2.4(d), each Tranche C Term
Lender severally agrees to make a loan or loans (each, a “Tranche C Term
Loan”) to the Borrower, which Tranche C Term Loans (i) shall not
exceed, for any such Lender, the Tranche C Term Loan Commitment of such Tranche
C Term Lender, (ii) shall not exceed, in the aggregate, the Total Tranche
C Term Loan Commitment, (iii) shall be made on the Effective Date,
(iv) may at the option of the Borrower be incurred and maintained as,
and/or converted into, ABR Loans or Eurodollar Tranche C Term Loans; provided,
that all such Tranche C Term Loans made by each of the Tranche C Term Lenders
pursuant to the same Borrowing shall, unless otherwise specifically provided
herein, consist entirely of Tranche C Term Loans of the same Type and
(v) may be repaid or prepaid in accordance with the provisions hereof, but
once repaid or prepaid may not be reborrowed. 
On the Tranche C Term Loan Maturity Date, all outstanding Tranche C Term
Loans shall be repaid in full.

(b)                                 Subject
to and upon the terms and conditions herein set forth including Section 2.4
(d), each Lender having a Revolving Credit Commitment severally agrees to make
a loan or loans (each, a “Revolving Credit Loan”) to the Borrower, which
Revolving Credit Loans (i) shall not exceed, for any such Lender, the
Revolving Credit Commitment of such Lender, (ii) shall not, after giving
effect thereto and to the application of the proceeds thereof, result in such
Lender’s Revolving Credit Exposure at such time exceeding such Lender’s
Revolving Credit Commitment at such time, (iii) shall not, after giving
effect thereto and to the application of the proceeds thereof, at any time
result in the aggregate amount of all Lenders’ Revolving Credit Exposures plus
the aggregate principal amount outstanding of all Swingline Loans at such time
exceeding the Total Revolving Credit Commitment then in effect, (iv) shall
be made at any time and from time to time after the Closing Date and prior to
the Revolving Credit Maturity Date, (v) may at the option of the Borrower
be incurred and maintained as, and/or converted into, ABR Loans or Eurodollar
Revolving Credit Loans, provided that all Revolving Credit Loans made by each
of the Lenders pursuant to the same Borrowing shall, unless otherwise
specifically provided herein, consist entirely of Revolving Credit Loans of the
same Type and (vi) may be repaid and reborrowed in accordance with the
provisions hereof.  On the Revolving
Credit Maturity Date, all outstanding Revolving Credit Loans shall be repaid in
full. Any Revolving Loan outstanding under the Original Credit Agreement on the
Effective Date shall continue to be outstanding and be deemed to be Revolving
Loans made hereunder subject the terms and conditions hereof.

(c)                                  Each
Lender may at its option make any Eurodollar Loan by causing any domestic or
foreign branch or Affiliate of such Lender to make such Loan; provided,
that (i) any exercise of such option shall not affect the obligation of
the Borrower, as the case may be, to repay such Loan and (ii) in
exercising such option, such Lender shall use its reasonable efforts to
minimize any increased costs to the Borrower resulting therefrom (which
obligation of the Lender shall not require it to take, or refrain from taking,
actions that it determines would result in increased costs for which it will
not be compensated hereunder or that it determines would be otherwise
disadvantageous to it and in the event of such request for costs for which
compensation is provided under this Agreement, the provisions of
Section 2.10 shall apply).

 40
 

(d)                                 (i) 
Subject to and upon the terms and conditions herein set forth, the Swingline
Lender in its individual capacity agrees, at any time and from time to time on
and after the Closing Date and prior to the Swingline Maturity Date, to make a
loan or loans (each, a “Swingline Loan”) to the Borrower, which
Swingline Loans (A) shall be ABR Loans, (B) shall have the benefit of
the provisions of Section 2.1(e)(ii), (C) shall not exceed at any
time outstanding the Swingline Commitment, (D) shall not, after giving
effect thereto and to the application of the proceeds thereof, result at any
time in the aggregate amount of all Lenders’ Revolving Credit Exposures plus
the aggregate principal amount outstanding of all Swingline Loans at such time
exceeding the Total Revolving Credit Commitment then in effect and (E) may
be repaid and reborrowed in accordance with the provisions hereof.  On the Swingline Maturity Date, all
outstanding Swingline Loans shall be repaid in full.  The Swingline Lender shall not make any
Swingline Loan after receiving a written notice from the Borrower or any Lender
stating that a Default or an Event of Default exists and is continuing until
such time as the Swingline Lender shall have received written notice of (x)
rescission of all such notices from the party or parties originally delivering
such notice or (y) the waiver of such Default or Event of Default in accordance
with the provisions of Section 13.1. 
Any Swingline Loan outstanding under the Original Credit Agreement on
the Effective Date shall continue to be outstanding and be deemed to be
Swingline Loans made hereunder, subject to the terms and conditions hereunder.

(e)                                  (ii)                                  On
any Business Day, the Swingline Lender may, in its sole discretion, give notice
to the Lenders with Revolving Credit Commitments, with a copy to the Borrower,
that all then-outstanding Swingline Loans shall be funded with a Borrowing of
Revolving Credit Loans, in which case Revolving Credit Loans constituting ABR
Loans (each such Borrowing, a “Mandatory Borrowing”) shall be made on
the immediately succeeding Business Day by all Lenders with Revolving Credit Commitments
pro  rata based on each such Lender’s Revolving Credit Commitment
Percentage, and the proceeds thereof shall be applied directly to the Swingline
Lender to repay the Swingline Lender for such outstanding Swingline Loans.  Each Lender with a Revolving Credit
Commitment hereby irrevocably agrees to make such Revolving Credit Loans upon
one Business Day’s notice pursuant to each Mandatory Borrowing in the amount
and in the manner specified in the preceding sentence and on the date specified
to it in writing by the Swingline Lender notwithstanding (i) that the
amount of the Mandatory Borrowing may not comply with the minimum amount for
each Borrowing specified in Section 2.2, (ii) whether any conditions
specified in Section 7 are then satisfied, (iii) whether a Default or
an Event of Default has occurred and is continuing, (iv) the date of such
Mandatory Borrowing or (v) any reduction in the Total Commitment after any
such Swingline Loans were made.  In the
event that, in the sole judgment of the Swingline Lender, any Mandatory
Borrowing cannot for any reason be made on the date otherwise required above
(including as a result of the commencement of a proceeding under the Bankruptcy
Code in respect of the Borrower), each Lender with a Revolving Credit Commitment
hereby agrees that it shall forthwith purchase from the Swingline Lender
(without recourse or warranty) such participation of the outstanding Swingline
Loans as shall be necessary to cause each such Lender to share in such
Swingline Loans ratably based upon their respective Revolving Credit Commitment
Percentages, provided that all principal and interest payable on such
Swingline Loans shall be for the account of the Swingline Lender until the date
the respective participation is purchased and, to the extent attributable to
the purchased participation, shall be payable to the Lender purchasing same
from and after such date of purchase.

 41
 

2.2                                 Minimum
Amount of Each Borrowing; Maximum Number of Borrowings.  The aggregate principal amount of each
Borrowing of Term Loans or Revolving Credit Loans shall be in a multiple of
$1,000,000 and Swingline Loans shall be in a multiple of $100,000 and, in each
case, shall not be less than the Minimum Borrowing Amount with respect thereto
(except that Mandatory Borrowings shall be made in the amounts required by
Section 2.1(e)).  More than one
Borrowing may be incurred on any date, provided that at no time shall there be
outstanding more than 20 Borrowings of Eurodollar Loans under this Agreement.

2.3                                 Notice
of Borrowing.  (a)  The
Borrower shall give the Administrative Agent at the Administrative Agent’s
Office (i) prior to 1:00 p.m. (New York time) at least three Business Days’
prior written notice (or telephonic notice promptly confirmed in writing) of
each Borrowing of Term Loans if all or any of such Term Loans are to be
initially Eurodollar Loans, and (ii) prior written notice (or telephonic
notice promptly confirmed in writing) prior to 10:00 a.m. (New York time)
on the date of each Borrowing of Term Loans if all such Term Loans are to be
ABR Loans.  Such notice (together with
each notice of a Borrowing of Revolving Credit Loans pursuant to
Section 2.3(b) and each notice of a Borrowing of Swingline Loans
pursuant to Section 2.3(d), a “Notice of Borrowing”) shall specify
(i) the aggregate principal amount of the Term Loans to be made,
(ii) the date of the Borrowing (which shall be, in the case of Tranche C
Term Loans, the Effective Date and, in the case of each Series of New Term
Loans, the Increased Amount Date in respect of such Series) and
(iii) whether the Term Loans shall consist of ABR Loans and/or Eurodollar
Term Loans and, if the Term Loans are to include Eurodollar Term Loans, the
Interest Period to be initially applicable thereto.  The Administrative Agent shall promptly give
each Lender written notice (or telephonic notice promptly confirmed in writing)
of each proposed Borrowing of Term Loans, of such Lender’s proportionate share
thereof and of the other matters covered by the related Notice of Borrowing.

(b)                                 Whenever
the Borrower desires to incur Revolving Credit Loans hereunder (other than
Mandatory Borrowings or borrowings to repay Unpaid Drawings under Letters of
Credit), it shall give the Administrative Agent at the Administrative Agent’s
Office, (i) prior to 1:00 p.m. (New York Time) at least three Business
Days’ prior written notice (or telephonic notice promptly confirmed in writing)
of each Borrowing of Eurodollar Revolving Credit Loans, and (ii) prior to
1:00 p.m. (New York time) at least one Business Day’s prior written notice (or
telephonic notice promptly confirmed in writing) of each Borrowing of Revolving
Credit Loans that are to be ABR Loans. 
Each such Notice of Borrowing, except as otherwise expressly provided in
Section 2.10, shall specify (i) the aggregate principal amount of the
Revolving Credit Loans to be made pursuant to such Borrowing, (ii) the
date of Borrowing (which shall be a Business Day) and (iii) whether the
respective Borrowing shall consist of ABR Loans or Eurodollar Revolving Credit
Loans and, if Eurodollar Revolving Credit Loans, the Interest Period to be
initially applicable thereto.  The
Administrative Agent shall promptly give each Lender written notice (or
telephonic notice promptly confirmed in writing) of each proposed Borrowing of
Revolving Credit Loans, of such Lender’s proportionate share thereof and of the
other matters covered by the related Notice of Borrowing.

(c)                                  Whenever
the Borrower desires to incur Swingline Loans hereunder, it shall give the
Administrative Agent written notice (or telephonic notice promptly confirmed in
writing) of each Borrowing of Swingline Loans prior to 3:00 p.m. (New York
time) or such later time as is agreed by the Swingline Lender on the date of
such Borrowing.  Each such notice shall

 42
 

be irrevocable and shall specify (i) the
aggregate principal amount of the Swingline Loans to be made pursuant to such
Borrowing and (ii) the date of Borrowing (which shall be a Business
Day).  The Administrative Agent shall
promptly give the Swingline Lender written notice (or telephonic notice
promptly confirmed in writing) of each proposed Borrowing of Swingline Loans
and of the other matters covered by the related Notice of Borrowing.

(d)                                 Mandatory
Borrowings shall be made upon the notice specified in Section 2.1(e)(ii),
with the Borrower irrevocably agreeing, by its incurrence of any Swingline
Loan, to the making of Mandatory Borrowings as set forth in such Section.

(e)                                  Borrowings
of Revolving Credit Loans to reimburse Unpaid Drawings under Letters of Credit
shall be made upon the notice specified in Section 3.4(a).

(f)                                    Without
in any way limiting the obligation of the Borrower to confirm in writing any
notice it may give hereunder by telephone, the Administrative Agent may act
prior to receipt of written confirmation without liability upon the basis of
such telephonic notice believed by the Administrative Agent in good faith to be
from an Authorized Officer of the Borrower. 
In each such case, the Borrower hereby waives the right to dispute the
Administrative Agent’s record of the terms of any such telephonic notice.

(g)                                 Any
Continuing Lender that has converted some but not all of its Original Term
Loans on the Effective Date shall be indemnified by the Borrower, with respect
to the portion of the Original Term Loans not converted to Tranche C Term
Loans, as provided in Section 2.11 of the Original Credit Agreement, which
indemnity amounts shall be paid to each such Continuing Lender on the Effective
Date; provided, however, if a Continuing Lender converts all of
its Original Term Loans to an equivalent amount of Tranche C Term Loans on the
Effective Date, the indemnification provided in Section 2.11 of the Original
Credit Agreement shall not apply to such Lender on the Effective Date.

2.4                                 Disbursement
of Funds.  (a)  No later
than 2:00 p.m. (New York time) on the date specified in each Notice of
Borrowing (including Mandatory Borrowings), each Lender will make available its
pro  rata portion, if any, of each Borrowing requested to be made
on such date in the manner provided below; provided, that all Swingline
Loans shall be made available in the full amount thereof by the Swingline
Lender no later than 3:00 p.m. (New York time) on the date requested.

(b)                                 Each
Lender shall make available all amounts it is to fund to the Borrower under any
Borrowing in immediately available funds to the Administrative Agent at the
Administrative Agent’s Office and the Administrative Agent will (except in the
case of Mandatory Borrowings and Borrowings to repay Unpaid Drawings under
Revolving Credit Loans) make available to the Borrower, by depositing to an
account designated by the Borrower to the Administrative Agent in writing, the
aggregate of the amounts so made available in Dollars.  Unless the Administrative Agent shall have been
notified by any Lender prior to the date of any such Borrowing that such Lender
does not intend to make available to the Administrative Agent its portion of
the Borrowing or Borrowings to be made on such date, the Administrative Agent
may assume that such Lender has made such amount available to the
Administrative Agent on such date of Borrowing, and the Administrative Agent,
in reliance upon

 43
 

such assumption, may (in its sole discretion
and without any obligation to do so) make available to the Borrower, as the
case may be, a corresponding amount.  If
such corresponding amount is not in fact made available to the Administrative
Agent by such Lender and the Administrative Agent has made available same to
the Borrower, the Administrative Agent shall be entitled to recover such
corresponding amount from such Lender. 
If such Lender does not pay such corresponding amount forthwith upon the
Administrative Agent’s demand therefor, the Administrative Agent shall promptly
notify the Borrower and the Borrower shall immediately pay such corresponding
amount to the Administrative Agent.  The
Administrative Agent shall also be entitled to recover from such Lender or the
Borrower, as the case may be, interest on such corresponding amount in respect
of each day from the date such corresponding amount was made available by the
Administrative Agent to the Borrower, to the date such corresponding amount is
recovered by the Administrative Agent, at a rate per annum equal to (i) if
paid by such Lender, the Federal Funds Effective Rate or (ii) if paid by
the Borrower, the then-applicable rate of interest or fees, calculated in
accordance with Section 2.8, for the respective Loans.

(c)                                  Nothing
in this Section 2.4 shall be deemed to relieve any Lender from its
obligation to fulfill its commitments hereunder or to prejudice any rights that
the Borrower may have against any Lender as a result of any default by such
Lender hereunder (it being understood, however, that no Lender shall be
responsible for the failure of any other Lender to fulfill its commitments
hereunder).

(d)                                 Notwithstanding
anything in this Section 2.4 to the contrary, at the option at each Continuing
Lender, all or a portion of the Original Term Loans of such Continuing Lender
may be converted to Tranche C Term Loans and applied toward satisfaction of its
funding requirements set forth in clauses (a) and (b) above.

2.5                                 Repayment
of Loans; Evidence of Debts. 
(a)  The Borrower shall repay to the Administrative Agent, for
the benefit of the applicable Lenders, (i) on the Tranche C Term Loan
Maturity Date, all then outstanding Tranche C Term Loans, (ii) on the New
Term Loan Maturity Date for New Term Loans of any Series, any then outstanding
New Term Loans of such Series, (iii) on the Revolving Credit Maturity
Date, all then outstanding Revolving Credit Loans and (iv) on the
Swingline Maturity Date, all then outstanding Swingline Loans.

(b)                                 The
Borrower shall repay to the Administrative Agent, for the benefit of the
Lenders of Tranche C Term Loans, on each date set forth below (each, a “Tranche
C Term Loan Repayment Date”), a principal amount of the Tranche C Term
Loans equal to (x) the principal amount of Tranche C Term Loans outstanding
immediately after the Borrowing of Tranche C Term Loans on the Effective Date
(as may be reduced by, and after giving effect to, any optional and mandatory
prepayments made in accordance with the terms hereof) multiplied by (y) the
percentage set forth below opposite such Tranche C Term Loan Repayment Date
(each, a “Tranche C Term Loan Repayment Amount”):

	
  Tranche C Term Loan Repayment Date

  	
   

  	
  Tranche C Term Loan

  Repayment Amount

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  March 31, 2007

  	
   

  	
  0.25

  	
  %

  
	
  June 30, 2007

  	
   

  	
  0.25

  	
  %

  

 

 44
 

 

	
  Tranche C Term Loan Repayment Date

  	
   

  	
  Tranche C Term Loan

  Repayment Amount

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  September 30, 2007

  	
   

  	
  0.25

  	
  %

  
	
  December 31, 2007

  	
   

  	
  0.25

  	
  %

  
	
  March 31, 2008

  	
   

  	
  0.25

  	
  %

  
	
  June 30, 2008

  	
   

  	
  0.25

  	
  %

  
	
  September 30, 2008

  	
   

  	
  0.25

  	
  %

  
	
  December 31, 2008

  	
   

  	
  0.25

  	
  %

  
	
  March 31, 2009

  	
   

  	
  0.25

  	
  %

  
	
  June 30, 2009

  	
   

  	
  0.25

  	
  %

  
	
  September 30, 2009

  	
   

  	
  0.25

  	
  %

  
	
  December 31, 2009

  	
   

  	
  0.25

  	
  %

  
	
  March 31, 2010

  	
   

  	
  0.25

  	
  %

  
	
  June 30, 2010

  	
   

  	
  0.25

  	
  %

  
	
  September 30, 2010

  	
   

  	
  0.25

  	
  %

  
	
  December 31, 2010

  	
   

  	
  0.25

  	
  %

  
	
  March 31, 2011

  	
   

  	
  0.25

  	
  %

  
	
  June 30, 2011

  	
   

  	
  0.25

  	
  %

  
	
  September 30, 2011

  	
   

  	
  0.25

  	
  %

  
	
  December 31, 2011

  	
   

  	
  0.25

  	
  %

  
	
  March 31, 2012

  	
   

  	
  0.25

  	
  %

  
	
  June 30, 2012

  	
   

  	
  0.25

  	
  %

  
	
  September 30, 2012

  	
   

  	
  0.25

  	
  %

  
	
  December 31, 2012

  	
   

  	
  0.25

  	
  %

  
	
  March 31, 2013

  	
   

  	
  0.25

  	
  %

  
	
  Tranche C Term
  Loan Maturity Date

  	
   

  	
  93.75

  	
  %

  

 

(c)                                  In
the event any New Term Loans are made, such New Term Loans shall be repaid on
each New Term Loan Repayment Date occurring on or after the applicable
Increased Amount Date in the amounts set forth in the applicable Joinder
Agreement, subject to the requirements set forth in Section 2.14.

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

(e)                                  The
Administrative Agent shall maintain the Register pursuant to
Section 13.6(b), and a subaccount for each Lender, in which Register and
subaccounts (taken together) shall be recorded (i) the amount of each Loan
made hereunder, whether such Loan is a Tranche C Term Loan, a New Term Loan, a
Revolving Credit Loan, or a Swingline Loan, the Type of each Loan made and the
Interest Period applicable thereto, (ii) the amount of any principal or
interest due and payable or to become due and payable from the Borrower to each
Lender or the Swingline Lender hereunder and (iii) the amount of any sum
received by the Administrative Agent from the Borrower and each Lender’s share
thereof.

 45
 

(f)                                    The
entries made in the Register and accounts and subaccounts maintained pursuant
to paragraphs (d) and (e) of this Section 2.5 shall, to the
extent permitted by applicable law, be prima facie evidence of the existence
and amounts of the obligations of the Borrower therein recorded; provided,
however, that the failure of any Lender or the Administrative Agent to
maintain such account, such Register or such subaccount, as applicable, or any
error therein, shall not in any manner affect the obligation of the Borrower to
repay (with applicable interest) the Loans made to the Borrower by such Lender
in accordance with the terms of this Agreement.

2.6                                 Conversions
and Continuations. 
(a)  The Borrower shall have the option on any Business Day to
convert all or a portion equal to at least the Minimum Borrowing Amount of the
outstanding principal amount Tranche C Term Loans, New Term Loans or Revolving
Credit Loans of one Type into a Borrowing or Borrowings of another Type and the
Borrower shall have the option on any Business Day to continue the outstanding
principal amount of any Eurodollar Tranche C Term Loans, Eurodollar New Term
Loans or Eurodollar Revolving Credit Loans as Eurodollar Tranche C Term Loans,
Eurodollar New Term Loans or Eurodollar Revolving Credit Loans, as the case may
be, for an additional Interest Period; provided, that (i) no
partial conversion of Eurodollar Tranche C Term Loans, Eurodollar New Term
Loans or Eurodollar Revolving Credit Loans shall reduce the outstanding
principal amount of Eurodollar Tranche C Term Loans, Eurodollar New Term Loans
or Eurodollar Revolving Credit Loans made pursuant to a single Borrowing to
less than the Minimum Borrowing Amount, (ii) ABR Loans may not be
converted into Eurodollar Loans if a Default or an Event of Default is in
existence on the date of the conversion and the Administrative Agent has, or
the Required Lenders in respect of the Credit Facility that is the subject of
such conversion have, determined in its or their sole discretion not to permit
such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar
Loans for an additional Interest Period if a Default or an Event of Default is
in existence on the date of the proposed continuation and the Administrative
Agent has, or the Required Lenders in respect of the Credit Facility that is
the subject of such conversion have, determined in its or their sole discretion
not to permit such continuation and (iv) Borrowings resulting from
conversions pursuant to this Section 2.6 shall be limited in number as
provided in Section 2.2.  Each such
conversion or continuation shall be effected by the Borrower by giving the
Administrative Agent at the applicable Administrative Agent’s Office prior to
1:00 p.m. (New York time) at least three Business Days’ (or one Business Day’s
notice in the case of a conversion into ABR Loans) prior written notice (or
telephonic notice promptly confirmed in writing) (each, a “Notice of
Conversion or Continuation”) specifying the Loans to be so converted or
continued, the Type of Loans to be converted or continued into and, if such
Loans are to be converted into or continued as Eurodollar Loans, the Interest
Period to be initially applicable thereto. 
The Administrative Agent shall give each Lender notice as promptly as
practicable of any such proposed conversion or continuation affecting any of
its Loans.

(b)                                                                                 If
any Default or Event of Default is in existence at the time of any proposed
continuation of any Eurodollar Loans and the Required Lenders have determined
in their sole discretion not to permit such continuation, Eurodollar Loans
shall be automatically converted on the last day of the current Interest Period
into ABR Loans.  If upon the expiration
of any Interest Period in respect of Eurodollar Loans, the Borrower has failed
to elect a new Interest Period to be applicable thereto as provided in
paragraph (a) above, the Borrower, shall be deemed to have elected to
convert such Borrowing of Eurodollar Loans into a Borrowing of ABR Loans, effective
as of the expiration date of such current Interest Period.

 46
 

2.7                                 Pro
Rata Borrowings.  Each Borrowing of
Tranche C Term Loans under this Agreement shall be granted by the Lenders pro
rata on the basis of their then-applicable Tranche C Term Loan Commitments.  Each Borrowing of Revolving Credit Loans
under this Agreement shall be granted by the Lenders pro rata on the basis of
their then-applicable Revolving Credit Commitments.  Each Borrowing of New Term Loans under this
Agreement shall be granted by the Lenders pro rata on the basis of their then
applicable New Term Loan Commitments.  It
is understood that no Lender shall be responsible for any default by any other
Lender in its obligation to make Loans hereunder and that each Lender shall be
obligated to make the Loans provided to be made by it hereunder, regardless of
the failure of any other Lender to fulfill its commitments hereunder.

2.8                                 Interest.  (a)  The unpaid principal amount of
each ABR Loan shall bear interest from the date of the Borrowing thereof until
maturity (whether by acceleration or otherwise) at a rate per annum that shall
at all times be the Applicable ABR Margin plus the ABR in effect from
time to time.

(b)                                                                                 The
unpaid principal amount of each Eurodollar Loan shall bear interest from the
date of the Borrowing thereof until maturity thereof (whether by acceleration
or otherwise) at a rate per annum that shall at all times be the Applicable
Eurodollar Margin in effect from time to time plus the relevant Eurodollar
Rate.

(c)                                                                                  If
all or a portion of the principal amount of any Loan or any interest payable
thereon or any fees or other amounts due hereunder shall not be paid when due
(whether at the stated maturity, by acceleration or otherwise), such overdue
amount shall bear interest (including post-petition interest in any proceeding
under the Bankruptcy Code or other applicable bankruptcy laws) at a rate per
annum that is (i) in the case of overdue principal, the rate that would
otherwise be applicable thereto plus 2% or (ii) in the case of
overdue interest, fees or other amounts due hereunder, to the extent permitted
by Applicable Law, the rate described in Section 2.8(a) plus
2% from and including the date of such non-payment to but excluding the date on
which such amount is paid in full (after as well as before judgment).  All such interest shall be payable on demand.

(d)                                                                                 Interest
on each Loan shall accrue from and including the date of any Borrowing to but
excluding the date of any repayment thereof and shall be payable (i) in
respect of each ABR Loan, quarterly in arrears on the last day of each March,
June, September and December, (ii) in respect of each Eurodollar Loan, on
the last day of each Interest Period applicable thereto and, in the case of an
Interest Period in excess of three months, on each date occurring at
three-month intervals after the first day of such Interest Period, and
(iii) in respect of each Loan (except, other than in the case of
prepayments, any ABR Loan), on any prepayment (on the amount prepaid), at maturity
(whether by acceleration or otherwise) and, after such maturity, on demand.

(e)                                                                                  All
computations of interest hereunder shall be made in accordance with
Section 5.5.

(f)                                                                                    The
Administrative Agent, upon determining the interest rate for any Borrowing of
Eurodollar Loans, shall promptly notify the Borrower and the relevant Lenders

 47
 

thereof. 
Each such determination shall, absent clearly demonstrable error, be
final and conclusive and binding on all parties hereto.

2.9                                 Interest
Periods.  At the time the Borrower gives
a Notice of Borrowing or Notice of Conversion or Continuation in respect of the
making of, or conversion into or continuation as, a Borrowing of Eurodollar
Loans (in the case of the initial Interest Period applicable thereto) or prior
to 1:00 p.m. (New York time) on the third Business Day prior to the
expiration of an Interest Period applicable to a Borrowing of Eurodollar Loans,
the Borrower shall have the right to elect, by giving the Administrative Agent
written notice (or telephonic notice promptly confirmed in writing), the
Interest Period applicable to such Borrowing, which Interest Period shall, at
the option of the Borrower, be a one, two, three, six or (if available to all
the Lenders making such Loans as determined by such Lenders in good faith based
on prevailing market conditions) a nine or twelve month period; provided,
that the initial Interest Period may be for a period less than one month if
agreed upon by the Borrower and the Administrative Agent.  Notwithstanding anything to the contrary
contained above:

(i)                                     the
initial Interest Period for any Borrowing of Eurodollar Loans shall commence on
the date of such Borrowing (including the date of any conversion from a
Borrowing of ABR Loans) and each Interest Period occurring thereafter in respect
of such Borrowing shall commence on the day on which the next preceding
Interest Period expires;

(ii)                                  if
any Interest Period relating to a Borrowing of Eurodollar Loans begins on the
last Business Day of a calendar month or begins on a day for which there is no
numerically corresponding day in the calendar month at the end of such Interest
Period, such Interest Period shall end on the last Business Day of the calendar
month at the end of such Interest Period;

(iii)                               if
any Interest Period would otherwise expire on a day that is not a Business Day,
such Interest Period shall expire on the next succeeding Business Day, provided
that if any Interest Period in respect of a Eurodollar Loan would otherwise
expire on a day that is not a Business Day but is a day of the month after
which no further Business Day occurs in such month, such Interest Period shall
expire on the next preceding Business Day; and

(iv)                              the
Borrower shall not be entitled to elect any Interest Period in respect of any
Eurodollar Loan if such Interest Period would extend beyond the applicable
Maturity Date of such Loan.

2.10                           Increased
Costs, Illegality, etc.  (a)  In
the event that (x) in the case of clause (i) below, the Administrative
Agent or (y) in the case of clauses (ii) and (iii) below, any Lender
shall have reasonably determined (which determination shall, absent clearly
demonstrable error, be final and conclusive and binding upon all parties
hereto):

(i)                                     on
any date for determining the Eurodollar Rate for any Interest Period that (x)
deposits in the principal amounts of the Loans comprising any Eurodollar
Borrowing are not generally available in the relevant market or (y) by reason
of any changes arising on or after the Closing Date affecting the interbank
Eurodollar market, adequate and fair

 48
 

means do not exist for ascertaining the
applicable interest rate on the basis provided for in the definition of
Eurodollar Rate; or

(ii)                                  at
any time, that such Lender shall incur increased costs or reductions in the
amounts received or receivable hereunder with respect to any Eurodollar Loans
(other than any such increase or reduction attributable to taxes) because of
(x) any change since the date hereof in any applicable law, governmental rule,
regulation, guideline or order (or in the interpretation or administration
thereof and including the introduction of any new law or governmental rule,
regulation, guideline or order), such as, for example, without limitation, a
change in official reserve requirements, and/or (y) other circumstances
affecting the interbank Eurodollar market or the position of such Lender in
such market; or

(iii)                               at
any time, that the making or continuance of any Eurodollar Loan has become
unlawful by compliance by such Lender in good faith with any law, governmental
rule, regulation, guideline or order (or would conflict with any such
governmental rule, regulation, guideline or order not having the force of law
even though the failure to comply therewith would not be unlawful), or has
become impracticable as a result of a contingency occurring after the date
hereof that materially and adversely affects the interbank Eurodollar market;

then, and in any such event, such Lender (or the
Administrative Agent, in the case of clause (i) above) shall within a
reasonable time thereafter give notice (if by telephone, confirmed in writing)
to the Borrower and the Administrative Agent of such determination (which
notice the Administrative Agent shall promptly transmit to each of the other
Lenders).  Thereafter (x) in the case of
clause (i) above, Eurodollar Loans shall no longer be available until such
time as the Administrative Agent notifies the Borrower and the Lenders that the
circumstances giving rise to such notice by the Administrative Agent no longer
exist (which notice the Administrative Agent agrees to give at such time when
such circumstances no longer exist), and any Notice of Borrowing or Notice of
Conversion given by the Borrower with respect to Eurodollar Loans that have not
yet been incurred shall be deemed rescinded by the Borrower, (y) in the case of
clause (ii) above, the Borrower shall pay to such Lender, promptly after
receipt of written demand therefor such additional amounts (in the form of an
increased rate of, or a different method of calculating, interest or otherwise
as such Lender in its reasonable discretion shall determine) as shall be
required to compensate such Lender for such increased costs or reductions in
amounts receivable hereunder (it being agreed that a written notice as to the
additional amounts owed to such Lender, showing in reasonable detail the basis
for the calculation thereof, submitted to the Borrower by such Lender shall,
absent clearly demonstrable error, be final and conclusive and binding upon all
parties hereto) and (z) in the case of clause (iii) above, the Borrower
shall take one of the actions specified in Section 2.10(b) as
promptly as possible and, in any event, within the time period required by law.

(b)                                                                                 At
any time that any Eurodollar Loan is affected by the circumstances described in
Section 2.10(a)(ii) or (iii), the Borrower may (and in the case of a
Eurodollar Loan affected pursuant to Section 2.10(a)(iii) shall)
either (x) if the affected Eurodollar Loan is then being made pursuant to a
Borrowing, cancel said Borrowing by giving the Administrative Agent telephonic
notice (confirmed promptly in writing) thereof on the same date that the
Borrower was notified by a Lender pursuant to Section 2.10(a)(ii) or
(iii) or (y) if

 49
 

the affected Eurodollar Loan is then
outstanding, upon at least three Business Days’ notice to the Administrative
Agent, require the affected Lender to convert each such Eurodollar Loan into an
ABR Loan, if applicable; provided, that if more than one Lender is
affected at any time, then all affected Lenders must be treated in the same
manner pursuant to this Section 2.10(b).

(c)                                                                                  If,
after the date hereof, the adoption of any applicable law, rule or regulation
regarding capital adequacy, or any change therein, or any change in the
interpretation or administration thereof by any governmental authority, the
National Association of Insurance Commissioners, central bank or comparable
agency charged with the interpretation or administration thereof, or compliance
by a Lender or its parent with any request or directive made or adopted after
the date hereof regarding capital adequacy (whether or not having the force of
law) of any such authority, association, central bank or comparable agency, has
or would have the effect of reducing the rate of return on such Lender’s or its
parent’s capital or assets as a consequence of such Lender’s commitments or
obligations hereunder to a level below that which such Lender or its parent
could have achieved but for such adoption, effectiveness, change or compliance
(taking into consideration such Lender’s or its parent’s policies with respect
to capital adequacy), then from time to time, promptly after demand by such
Lender (with a copy to the Administrative Agent), the Borrower shall pay to
such Lender such additional amount or amounts as will compensate such Lender or
its parent for such reduction, it being understood and agreed, however, that a
Lender shall not be entitled to such compensation as a result of such Lender’s
compliance with, or pursuant to any request or directive to comply with, any
such law, rule or regulation as in effect on the date hereof.  Each Lender, upon determining in good faith
that any additional amounts will be payable pursuant to this
Section 2.10(c), will give prompt written notice thereof to the Borrower
(on its own behalf) which notice shall set forth in reasonable detail the basis
of the calculation of such additional amounts, although the failure to give any
such notice shall not, subject to Section 2.13, release or diminish any of
the Borrower’s obligations to pay additional amounts pursuant to this
Section 2.10(c) upon receipt of such notice.

(d)                                                                                 This
Section 2.10 shall not apply to taxes to the extent duplicative of
Section 5.4.

2.11                           Compensation.  If (a) any payment of principal of a
Eurodollar Loan is made by the Borrower to or for the account of a Lender other
than on the last day of the Interest Period for such Eurodollar Loan as a
result of a payment or conversion pursuant to Section 2.5, 2.6, 2.10, 5.1,
5.2 or 13.7, as a result of acceleration of the maturity of the Loans pursuant
to Section 11 or for any other reason, (b) any Borrowing of
Eurodollar Loans is not made as a result of a withdrawn Notice of Borrowing,
(c) any ABR Loan is not converted into a Eurodollar Loan as a result of a
withdrawn Notice of Conversion or Continuation, (d) any Eurodollar Loan is
not continued as a Eurodollar Loan as a result of a withdrawn Notice of
Conversion or Continuation or (e) any prepayment of principal of a
Eurodollar Loan is not made as a result of a withdrawn notice of prepayment
pursuant to Section 5.1 or 5.2, the Borrower shall, after receipt of a
written request by such Lender (which request shall set forth in reasonable
detail the basis for requesting such amount), pay to the Administrative Agent
for the account of such Lender any amounts required to compensate such Lender
for any additional losses, costs or expenses that such Lender may reasonably
incur as a result of such payment, failure to convert, failure to continue,
failure to prepay, reduction or failure to reduce, including

 50
 

any loss, cost or expense (excluding loss of
anticipated profits) actually incurred by reason of the liquidation or
reemployment of deposits or other funds acquired by such Lender to fund or
maintain such Eurodollar Loan.

2.12                           Change
of Lending Office.  Each Lender
agrees that, upon the occurrence of any event giving rise to the operation of
Section 2.10(a)(ii), 2.10(a)(iii), 2.10(b), 3.5 or 5.4 with respect to
such Lender, it will, if requested by the Borrower, use reasonable efforts
(subject to overall policy considerations of such Lender) to designate another
lending office for any Loans affected by such event; provided, that such
designation is made on such terms that such Lender and its lending office
suffer no economic, legal or regulatory disadvantage, with the object of
avoiding the consequence of the event giving rise to the operation of any such
Section.  Nothing in this
Section 2.12 shall affect or postpone any of the obligations of the Borrower
or the right of any Lender provided in Section 2.10, 3.5 or 5.4.

2.13                           Notice
of Certain Costs.  Notwithstanding
anything in this Agreement to the contrary, to the extent any notice required
by Section 2.10, 2.11, 3.5 or 5.4 is given by any Lender more than 180
days after such Lender has knowledge (or should have had knowledge) of the
occurrence of the event giving rise to the additional cost, reduction in
amounts, loss, tax or other additional amounts described in such Sections, such
Lender shall not be entitled to compensation under Section 2.10, 2.11, 3.5
or 5.4, as the case may be, for any such amounts incurred or accruing prior to
the giving of such notice to the Borrower.

2.14                           Incremental
Facilities.  (a)  The Borrower
may, by written notice to the Administrative Agent, elect to request, (x) the
establishment of one or more new term loan commitments (the “New Term Loan
Commitments”) and/or (y) prior to the Revolving Credit Maturity Date,
an increase to the existing Revolving Credit Commitments (but not the Letter of
Credit Commitment or the Swingline Commitment) (any such increase, a “Revolving
Credit Increase” and, together with the New Term Loan Commitments, the “New
Commitments”), to effect the incurrence of Indebtedness permitted to be
incurred pursuant to Section 10.1(v) in an amount not in excess of $125,000,000
in the aggregate and not less than $25,000,000 individually (or such lesser
amount which shall be approved by the Administrative Agent, and integral multiples
of $5,000,000 in excess of that amount). 
Each such notice shall specify the date (each, an “Increased Amount
Date”) on which the Borrower proposes that the New Commitments shall be
effective, which shall be a date not less than 10 days after the date on which
such notice is delivered to the Administrative Agent; provided, that the
Borrower shall first offer the Lenders under the applicable existing Credit
Facility, on a pro rata basis, the opportunity to provide all of the New
Commitments prior to offering such opportunity to any other Person that is an
eligible assignee pursuant to Section 13.6(b); provided, further,
that any Lender offered or approached to provide all or a portion of the New
Commitments may elect or decline, in its sole discretion, to provide a New
Commitment.  Such New Commitments shall
become effective, as of such Increased Amount Date; provided, that
(i) no Default or Event of Default shall exist on such Increased Amount
Date before or after giving effect to such New Commitments; (ii) both
before and after giving effect to the making of any Series of New Term Loans or
Revolving Credit Increase, each of the conditions set forth in Section 7 shall
be satisfied; (iii) the Borrower and its Subsidiaries shall be in pro
forma compliance with each of the covenants set forth in Sections 10.9 and
10.10 as of the last day of the most recently ended fiscal quarter after giving
effect to such New Commitments and any investment to be

 51
 

consummated in connection therewith;
(iv) the New Commitments shall be effected pursuant to one or more Joinder
Agreements executed and delivered by the Borrower and the Administrative Agent,
and each of which shall be recorded in the Register and shall be subject to the
requirements set forth in Section 5.4(d); (v) the Borrower shall make any
payments required pursuant to Section 2.11 in connection with the New
Commitments, as applicable; and (vi) the Borrower shall deliver or cause to be
delivered any legal opinions or other documents reasonably requested by the
Administrative Agent in connection with any such transaction.  Any New Term Loans made on an Increased
Amount Date shall be designated as a separate series (a “Series”) of New
Term Loans for all purposes of this Agreement and the other Credit Documents.

(b)                                 Upon
each increase in the Revolving Credit Commitments pursuant to this Section,
each Lender with a Revolving Credit Commitment immediately prior to such
increase will automatically and without further act be deemed to have assigned
to each Lender providing a portion of the Revolving Credit Increase (each a “Revolving
Credit Increase Lender”) in respect of such increase, and each such
Revolving Credit Increase Lender will automatically and without further act be
deemed to have assumed, a portion of such Lender’s participations hereunder in
outstanding Letters of Credit and Swingline Loans such that, after giving
effect to each such deemed assignment and assumption of participations, the
percentage of the aggregate outstanding (i) participations hereunder in Letters
of Credit and (ii) participations hereunder in Swingline Loans held by each
Lender with a Revolving Credit Commitment (including each such Revolving Credit
Increase Lender) will equal the percentage of the aggregate Revolving Credit
Commitments of all Lenders represented by such Lender’s Revolving Credit
Commitment.  If, on the date of such
increase, there are any Revolving Credit Loans outstanding, such Revolving
Credit Loans shall on or prior to the effectiveness of such Revolving
Commitment Increase be prepaid from the proceeds of additional Revolving Credit
Loans made hereunder (reflecting such increase in Revolving Credit
Commitments), which prepayment shall be accompanied by accrued interest on the
Revolving Credit Loans being prepaid and any costs incurred by any Lender in
accordance with Section 2.11.  The
Administrative Agent and the Lenders hereby agree that the minimum borrowing,
pro rata borrowing and pro rata payment requirements contained elsewhere in
this Agreement shall not apply to the transactions effected pursuant to the
immediately preceding sentence.

(c)                                  On
any Increased Amount Date on which any New Term Loan Commitments of any Series
are effective, subject to the satisfaction of the foregoing terms and conditions,
(i) each Lender with a New Term Loan Commitment (each, a “New Term Loan
Lender”) of any Series shall make a loan to the Borrower (a “New Term Loan”) in an amount
equal to its New Term Loan Commitment of such Series, and (ii) each New Term
Loan Lender of any Series shall become a Lender hereunder with respect to its
New Term Loan Commitment of such Series and the New Term Loans of such Series
made by such Lender pursuant thereto.

(d)                                 The
Administrative Agent shall notify the Lenders promptly upon receipt of the
Borrower’s notice of each Increased Amount Date and in respect thereof (i) the
Series of New Term Loan Commitments and New Term Loan Lenders of such Series
and the Revolving Credit Increase and Revolving Credit Increase Lenders and
(ii) in the case of each notice to any Lender with Revolving Credit Exposure,
the respective interests in such Lender’s Revolving Credit Exposure subject to
the assignments contemplated by clause (b) of this Section 2.14.

 52

(e)           The terms and provisions of the New Term Loans and New
Term Loan Commitments of any Series shall be, except as otherwise set forth
herein or in the Joinder Agreement, identical to the Tranche C Term Loans; provided,
however, that (i) the New Term Loan Maturity Date for any Series shall
be determined by the Borrower and the applicable New Term Loan Lenders and
shall be set forth in the applicable Joinder Agreement; provided, that
the applicable New Term Loan Maturity Date of each Series shall be no shorter
than the final maturity of the Tranche C Term Loans and (ii) the rate of
interest applicable to the New Term Loans of each Series shall be determined by
the Borrower and the applicable New Term Loan Lenders and shall be set forth in
the applicable Joinder Agreement.

(f)            Each Joinder Agreement may, without the consent of any
other Lenders, effect such amendments to this Agreement and the other Credit
Documents as may be necessary or appropriate, in the opinion of the
Administrative Agent, to effect the provisions of this Section 2.14.

SECTION 3.           Letters of
Credit

3.1           Issuance of Letters of Credit.  (a)  Subject to and upon the terms and
conditions herein set forth, at any time and from time to time after the
Closing Date and prior to the Revolving Credit Maturity Date, the Letter of
Credit Issuer agrees to issue (or cause its Affiliate or other financial
institution with which the Letter of Credit Issuer shall have entered into an
agreement regarding the issuance of letters of credit hereunder, to issue on its
behalf), upon the request of and for the account of, the Borrower or any
Restricted Subsidiary a standby letter of credit or standby letters of credit
(each, a “Letter of Credit”) in such form as may be approved by the
Letter of Credit Issuer in its reasonable discretion; provided, that the Borrower shall
be a co-applicant, and be jointly and severally liable, with respect to each
Letter of Credit issued for the account of a Restricted Subsidiary.  Each letter of credit issued pursuant to the
Original Credit Agreement and outstanding on the Effective Date shall continue
to be outstanding and shall be deemed to be Letters of Credit hereunder,
subject to the terms and conditions hereof. 
Notwithstanding the foregoing, (i) no Letter of Credit shall be
issued the Stated Amount of which, when added to the Letters of Credit
Outstanding at such time, would exceed the Letter of Credit Commitment then in
effect, (ii) no Letter of Credit shall be issued the Stated Amount of
which, when added to the Letters of Credit Outstanding and the Revolving Credit
Loans and Swingline Loans outstanding at such time, would exceed the Total
Revolving Credit Commitment then in effect and (iii) each Letter of Credit
shall have an expiration date occurring no later than the earlier of (x) one
year after the date of issuance thereof, unless otherwise agreed upon by the
Administrative Agent and the Letter of Credit Issuer, and (y) the fifth
Business Day prior to the Revolving Credit Maturity Date; provided, however,
that any Letter of Credit may be renewed for additional 12-month periods (which
in no event shall extend beyond the date referred to in clause
(iii)(y) above).

(b)           (i) Each Letter of Credit shall be denominated in
Dollars, (ii) no Letter of Credit shall be issued if it would be illegal
under any applicable law for the beneficiary of the Letter of Credit to have a
Letter of Credit issued in its favor, and (iii) no Letter of Credit shall
be issued after the Letter of Credit Issuer has received a written notice from
the Borrower or any Lender stating that a Default or an Event of Default has
occurred and is continuing until such time as the Letter of Credit Issuer shall
have received a written notice of (x) rescission of such

 53
 

notice from the party or parties originally
delivering such notice or (y) the waiver of such Default or Event of
Default in accordance with the provisions of Section 13.1.

3.2           Letter of Credit Requests.  (a)  Whenever the Borrower desires that
a Letter of Credit be issued for its account, it shall give the Administrative
Agent and the Letter of Credit Issuer at least two (or such lesser number as
may be agreed upon by the Administrative Agent and the Letter of Credit Issuer)
Business Days’ written notice thereof. 
Each notice shall be executed by the Borrower and shall be in the form
of Exhibit F (each, a “Letter of Credit Request”).  The Administrative Agent shall promptly
transmit copies of each Letter of Credit Request to each Lender.

(b)           The making of each Letter of Credit Request shall be
deemed to be a representation and warranty by the Borrower that the Letter of
Credit may be issued in accordance with, and will not violate the requirements
of, Section 3.1.

3.3           Letter of Credit Participations.  (a) Immediately upon the issuance by the
Letter of Credit Issuer of any Letter of Credit, the Letter of Credit Issuer
shall be deemed to have sold and transferred to each other Lender that has a
Letter of Credit Commitment (each such other Lender, in its capacity under this
Section 3.3(a), a “Letter of Credit Participant”), and each such
Letter of Credit Participant shall be deemed irrevocably and unconditionally to
have purchased and received from the Letter of Credit Issuer, without recourse
or warranty, an undivided interest and participation (each, a “Letter of Credit
Participation”), to the extent of such Letter of Credit Participant’s
Revolving Credit Commitment Percentage in such Letter of Credit, each
substitute letter of credit, each drawing made thereunder and the obligations
of the Borrower under this Agreement with respect thereto, and any security
therefor or guaranty pertaining thereto (although Letter of Credit Fees will be
paid directly to the Administrative Agent for the ratable account of the Letter
of Credit Participants as provided in Section 4.1(c) and the Letter
of Credit Participants shall have no right to receive any portion of any
Fronting Fees).

(b)           In determining whether to pay under any Letter of Credit,
the Letter of Credit Issuer shall have no obligation relative to the Letter of
Credit Participants other than to confirm that any documents required to be
delivered under such Letter of Credit have been delivered and that they appear
to comply on their face with the requirements of such Letter of Credit.  Any action taken or omitted to be taken by
the Letter of Credit Issuer under or in connection with any Letter of Credit
issued by it, if taken or omitted in the absence of gross negligence or willful
misconduct, shall not create for the Letter of Credit Issuer any resulting
liability.

(c)           Whenever the Letter of Credit Issuer receives a payment in
respect of an unpaid reimbursement obligation as to which the Administrative
Agent has received for the account of the Letter of Credit Issuer any payments
from the Letter of Credit Participants, the Letter of Credit Issuer shall pay
to the Administrative Agent and the Administrative Agent shall promptly pay to
each Letter of Credit Participant that has paid its Letter of Credit Commitment
Percentage of such reimbursement obligation, in Dollars and in immediately
available funds, an amount equal to such Letter of Credit Participant’s share
(based upon the proportionate aggregate amount originally funded or deposited
by such Letter of Credit Participant to the

 54
 

aggregate amount funded or deposited by all Letter
of Credit Participants) of the principal amount of such reimbursement
obligation and interest thereon accruing after the purchase of the respective
Letter of Credit Participations.

(d)           The obligations of the Letter of Credit Participants to
purchase Letter of Credit Participations from the Letter of Credit Issuer and
make payments to the Administrative Agent for the account of the Letter of
Credit Issuer with respect to Letters of Credit shall be irrevocable and not
subject to counterclaim, set-off or other defense or any other qualification or
exception whatsoever and shall be made in accordance with the terms and
conditions of this Agreement under all circumstances, including under any of
the following circumstances:

(i)            any lack of validity or enforceability of this Agreement
or any of the other Credit Documents;

(ii)           the existence of any claim, set-off, defense or other
right that the Borrower may have at any time against a beneficiary named in a
Letter of Credit, any transferee of any Letter of Credit (or any Person for
whom any such transferee may be acting), the Administrative Agent, the Letter
of Credit Issuer, any Lender or other Person, whether in connection with this
Agreement, any Letter of Credit, the transactions contemplated herein or any
unrelated transactions (including any underlying transaction between the
Borrower and the beneficiary named in any such Letter of Credit);

(iii)          any draft, certificate or any other document presented
under any Letter of Credit proving to be forged, fraudulent, invalid or
insufficient in any respect or any statement therein being untrue or inaccurate
in any respect;

(iv)          the surrender or impairment of any security for the
performance or observance of any of the terms of any of the Credit Documents;
or

(v)           the occurrence of any Default or Event of Default;

provided, however, that no
Letter of Credit Participant shall be obligated to pay to the Administrative
Agent for the account of the Letter of Credit Issuer its Letter of Credit
Commitment Percentage of any unreimbursed amount arising from any wrongful
payment made by the Letter of Credit Issuer under a Letter of Credit as a
result of acts or omissions constituting willful misconduct or gross negligence
on the part of the Letter of Credit Issuer.

3.4           Agreement to Repay Letter of Credit Drawings.  (a) The Borrower hereby agrees to
reimburse the Letter of Credit Issuer, by making payment to the Administrative
Agent for the account of the Letter of Credit Issuer in immediately available
funds, for any payment or disbursement made by the Letter of Credit Issuer
under any Letter of Credit issued by it (each such amount so paid until
reimbursed, an “Unpaid Drawing”) (i) within one Business Day of the date
of such payment or disbursement, if the Letter of Credit Issuer provides notice
to the Borrower of such payment or disbursement prior to 10:00 a.m. (New York
time) on such next succeeding Business Day after the date of such payment or
disbursement or (ii) if such notice is received after such time, on the
Business Day following the date of receipt of such notice (such required date
for reimbursement under clause (i) or (ii), as applicable, the “Required
Reimbursement Date”), with interest on the amount so paid or disbursed by
such Letter of Credit

 55
 

Issuer, (A) from and including the date of
such payment or disbursement to but excluding the Required Reimbursement Date,
at the per annum rate for each day equal to (x) the Applicable Eurodollar
Margin then in effect times (y) the amount of such Unpaid Drawing, and (B) to the
extent not reimbursed prior to 5:00 p.m. (New York time) on the Required
Reimbursement Date, from and including the Required Reimbursement Date to but
excluding the date such Letter of Credit Issuer is reimbursed therefor, at a
rate per annum that shall at all times be the relevant Applicable ABR Margin plus
the ABR as in effect from time to time plus 2%; provided, that,
notwithstanding anything contained in this Agreement to the contrary, with
respect to any Letter of Credit, (i) unless the Borrower shall have
notified the Administrative Agent and the Letter of Credit Issuer prior to
10:00 a.m. (New York time) on the Required Reimbursement Date that the Borrower
intends to reimburse the Letter of Credit Issuer for the amount of such drawing
with funds other than the proceeds of Revolving Credit Loans, the Borrower
shall be deemed to have given a Notice of Borrowing requesting that the Lenders with
Revolving Credit Commitments make Revolving Credit Loans (which shall be ABR
Loans) on the date on which such drawing is honored in an amount equal to the
amount of such drawing, and (ii) the Administrative Agent shall promptly
notify each Letter of Credit Participant of such drawing and the amount of its
Revolving Credit Loan to be made in respect thereof, and each Letter of Credit
Participant shall be irrevocably obligated to make a Revolving Credit Loan to
the Borrower in the manner deemed to have been requested in the amount of its
Revolving Credit Commitment Percentage of the applicable Unpaid Drawing by 1:00
p.m. (New York time) on such Business Day by making the amount of such
Revolving Credit Loan available to the Administrative Agent.  Such Revolving Credit Loans shall be made
without regard to the Minimum Borrowing Amount. 
The Administrative Agent shall use the proceeds of such Revolving Credit
Loans solely for purpose of reimbursing the Letter of Credit Issuer for the
related Unpaid Drawing.

(b)                           The obligations of the Borrower under this
Section 3.4 to reimburse the Letter of Credit Issuer with respect to
Unpaid Drawings (including, in each case, interest thereon) shall be absolute
and unconditional under any and all circumstances and irrespective of any
set-off, counterclaim or defense to payment that the Borrower or any other
Person may have or have had against the Letter of Credit Issuer, the
Administrative Agent or any Lender (including in its capacity as a Letter of
Credit Participant), including any defense based upon the failure of any
drawing under a Letter of Credit (each a “Drawing”) to conform to the
terms of the Letter of Credit or any non-application or misapplication by the
beneficiary of the proceeds of such Drawing; provided, that the Borrower
shall not be obligated to reimburse the Letter of Credit Issuer for any
wrongful payment made by the Letter of Credit Issuer under the Letter of Credit
issued by it as a result of acts or omissions constituting willful misconduct
or gross negligence on the part of the Letter of Credit Issuer.

3.5           Increased Costs.  If, after the date hereof, the adoption of
any applicable law, rule or regulation, or any change therein, or any change in
the interpretation or administration thereof by any Governmental Authority,
central bank or comparable agency charged with the interpretation or
administration thereof, or actual compliance by the Letter of Credit Issuer or
any Letter of Credit Participant with any request or directive made or adopted
after the date hereof (whether or not having the force of law), by any such
authority, central bank or comparable agency shall either (a) impose,
modify or make applicable any reserve, deposit, capital adequacy or similar
requirement against letters of credit issued by the Letter of Credit Issuer, or
any Letter of Credit Participant’s Letter of Credit Participation therein, or (b) impose

 56
 

on the Letter of Credit Issuer or any Letter of Credit
Participant any other conditions affecting its obligations under this Agreement
in respect of Letters of Credit or Letter of Credit Participations therein or
any Letter of Credit or such Letter of Credit Participant’s Letter of Credit
Participation therein, and the result of any of the foregoing is to increase
the cost to the Letter of Credit Issuer or such Letter of Credit Participant of
issuing, maintaining or participating in any Letter of Credit, or to reduce the
amount of any sum received or receivable by the Letter of Credit Issuer or such
Letter of Credit Participant hereunder (other than any such increase or
reduction attributable to taxes) in respect of Letters of Credit or Letter of
Credit Participations therein, then, promptly after receipt of written demand
to the Borrower by the Letter of Credit Issuer or such Letter of Credit
Participant, as the case may be (a copy of which notice shall be sent by the
Letter of Credit Issuer or such Letter of Credit Participant to the
Administrative Agent), the Borrower shall pay to the Letter of Credit Issuer or
such Letter of Credit Participant such additional amount or amounts as will
compensate the Letter of Credit Issuer or such Letter of Credit Participant for
such increased cost or reduction, it being understood and agreed, however, that
the Letter of Credit Issuer or a Letter of Credit Participant shall not be
entitled to such compensation as a result of such Person’s compliance with, or
pursuant to any request or directive to comply with, any such law, rule or
regulation as in effect on the date hereof. 
A certificate submitted to the Borrower by the Letter of Credit Issuer
or a Letter of Credit Participant, as the case may be (a copy of which
certificate shall be sent by the Letter of Credit Issuer or such Letter of
Credit Participant to the Administrative Agent) setting forth in reasonable
detail the basis for the determination of such additional amount or amounts
necessary to compensate the Letter of Credit Issuer or such Letter of Credit
Participant as aforesaid shall be conclusive and binding on the Borrower absent
clearly demonstrable error.

3.6           New or Successor Letter of Credit Issuer.  (a) 
The Letter of Credit Issuer may resign as a Letter of Credit Issuer upon
60 days’ prior written notice to the Administrative Agent, the Lenders and the
Borrower. The Borrower may replace the Letter of Credit Issuer for any reason
upon written notice to the Administrative Agent and the Letter of Credit
Issuer.  The Borrower may add a Letter of
Credit Issuer at any time upon notice to the Administrative Agent.  If the Letter of Credit Issuer shall resign,
be replaced or a new Letter of Credit Issuer is added as a Letter of Credit
Issuer under this Agreement, then the Borrower may appoint from among the
Lenders a successor issuer or new issuer of Letters of Credit or, with the
consent of the Administrative Agent (such consent not to be unreasonably
withheld), another successor issuer or new issuer of Letters of Credit,
whereupon such successor issuer or new issuer of Letters of Credit shall
succeed to or be granted the rights, powers and duties of a Letter of Credit
Issuer under this Agreement and the other Credit Documents (which in the case
of any successor Letter of Credit Issuer, shall mean the rights, powers and
duties of the relevant replaced or resigning Letter of Credit Issuer), and the
term “Letter of Credit Issuer” shall mean such successor issuer or such new
issuer of Letters of Credit effective upon such appointment.  At the time such resignation or replacement
shall become effective, the Borrower shall pay to the resigning or replaced
Letter of Credit Issuer all accrued and unpaid fees pursuant to Sections
4.1(b).  The acceptance of any appointment
as a Letter of Credit Issuer hereunder whether as a successor issuer or new
issuer of Letters of Credit in accordance with this Agreement, shall be
evidenced by an agreement entered into by such new or successor issuer of
Letters of Credit, in a form satisfactory to the Borrower and the
Administrative Agent and, from and after the effective date of such agreement,
such new or successor issuer of Letters of Credit shall have all the rights and
obligations of a Letter of Credit Issuer under this Agreement and the other
Credit Documents

 57
 

(which in the case of any successor Letter of
Credit Issuer, shall mean the rights, powers and duties of the relevant
replaced or resigning Letter of Credit Issuer). 
After the resignation or replacement of a Letter of Credit Issuer
hereunder, the resigning or replaced Letter of Credit Issuer shall remain a
party hereto and shall continue to have all the rights and obligations of a
Letter of Credit Issuer under this Agreement and the other Credit Documents
with respect to Letters of Credit issued by it prior to such resignation or
replacement, but shall not be required to issue additional Letters of
Credit.  In connection with any
resignation or replacement pursuant to this clause (a) (but, in case of any
such resignation, only to the extent that a successor issuer of Letters of
Credit shall have been appointed), either (i) the Borrower, the resigning or
replaced Letter of Credit Issuer and the successor issuer of Letters of Credit
shall arrange to have any outstanding Letters of Credit issued by the resigning
or replaced Letter of Credit Issuer replaced with Letters of Credit issued by
the successor issuer of Letters of Credit or (ii) the Borrower shall cause the
successor issuer of Letters of Credit, if such successor issuer is reasonably
satisfactory to the replaced or resigning Letter of Credit Issuer, to issue “back-stop”
Letters of Credit naming the resigning or replaced Letter of Credit Issuer as
beneficiary for each outstanding Letter of Credit issued by the resigning or
replaced Letter of Credit Issuer, which new Letters of Credit shall have a face
amount equal to the Letters of Credit being back-stopped and the sole
requirement for drawing on such new Letters of Credit shall be a drawing on the
corresponding back-stopped Letters of Credit. 
After any resigning or replaced Letter of Credit Issuer’s resignation or
replacement as Letter of Credit Issuer, the provisions of this Agreement
relating to a Letter of Credit Issuer shall inure to its benefit as to any
actions taken or omitted to be taken by it (A) while it was a Letter of Credit
Issuer under this Agreement or (B) at any time with respect to Letters of
Credit issued by such Letter of Credit Issuer.

(b)                           To the extent that there are, at the time
of any resignation or replacement as set forth in clause (a) above, any
outstanding Letters of Credit, nothing herein shall be deemed to impact or
impair any rights and obligations of any of the parties hereto with respect to
such outstanding Letters of Credit (including, without limitation, any
obligations related to the payment of Fees or the reimbursement or funding of
amounts drawn), except that the Borrower, the resigning or replaced Letter of
Credit Issuer and the successor issuer of Letters of Credit shall have the obligations
regarding outstanding Letters of Credit described in clause (a) above.

SECTION 4.           Fees;
Commitment Reductions and Terminations

4.1           Fees.  (a)  The Borrower agrees to pay to the
Administrative Agent for the account of each Lender having a Revolving Credit
Commitment, a commitment fee which shall accrue at percentage per annum set
forth below of the daily average unused portion of the Revolving Credit
Commitment of such Lender (which, for purposes of this Section 4.1 only,
shall not include the incurrence of Swingline Loans) based upon the Status in
effect on such date, and which shall be payable quarterly in arrears on the
last day of each March, June, September and December and on the Final Date.

 58
 

 

	
  Status

  	
   

  	
  Applicable Revolving

  Commitment Fee

  Percentage

  	
   

  
	
  Level I

  	
   

  	
  0.50

  	
  %

  
	
  Level II

  	
   

  	
  0.375

  	
  %

  

 

(b)                           The Borrower agrees to pay to the
Administrative Agent for the account of the Letter of Credit Issuer a fee in
respect of each Letter of Credit issued hereunder (the “Fronting Fee”),
for the period from and including the date of issuance of such Letter of Credit
to but excluding the termination or expiration date of such Letter of Credit,
computed at the rate for each day equal to such rate per annum as is agreed in
a separate writing between the Letter of Credit Issuer and the Borrower.  The Fronting Fee shall be due and payable
quarterly in arrears on the last day of each March, June, September and
December and on the Final Date.

(c)                           The Borrower agrees to pay to the
Administrative Agent for the account of each Lender having a Revolving Credit
Commitment, pro rata according to the Letter of Credit Exposure of such Lender,
a fee in respect of each Letter of Credit (the “Letter of Credit Fee”),
for the period from and including the date of issuance of such Letter of Credit
to but excluding the termination or expiration date of such Letter of Credit,
computed at the per annum rate for each day equal to (x) the Applicable
Eurodollar Margin then in effect for Letters of Credit times (y) the average
daily Stated Amount of such Letter of Credit. 
The Letter of Credit Fee shall be payable quarterly in arrears on the
last day of each March, June, September and December and on the applicable
Final Date.

(d)                           The Borrower agrees to pay directly to the
Letter of Credit Issuer upon each issuance of, drawing under and/or amendment
of a Letter of Credit issued by it such amount as the Letter of Credit Issuer
and the Borrower shall have agreed upon for issuances of, drawings under or
amendments of, letters of credit issued by it.

(e)                           Notwithstanding the foregoing, the
Borrower shall not be obligated to pay any amounts to any Defaulting Lender
pursuant to this Section 4.1 until the event or circumstances giving rise
to such Lender being designated as a Defaulting Lender have been cured.

4.2           Voluntary Reduction of Commitments.  Upon at least one Business Day’s prior
written notice (or telephonic notice promptly confirmed in writing) to the
Administrative Agent at the Administrative Agent’s Office (which notice the
Administrative Agent shall promptly transmit to each of the Lenders), the
Borrower shall have the right, without premium or penalty, on any day,
permanently to terminate or reduce the Revolving Credit Commitments in whole or
in part; provided, that (i) any partial reduction pursuant to this
Section 4.2 shall be in the amount of at least $1,000,000 and
(ii) after giving effect to such termination or reduction and to any
prepayments of Revolving Credit Loans or cancellation or cash collateralization
of Letters of Credit made on the date thereof in accordance with this
Agreement, the aggregate amount of the Lenders’ Revolving Credit Exposures
shall not exceed the Total Revolving Credit Commitment.

 59
 

4.3           Mandatory Termination of Commitments.  (a)  The Total Tranche C Term Loan
Commitment shall terminate at 5:00 p.m. (New York time) on the Effective
Date.

(b)                           The Total Revolving Credit Commitment
shall terminate at 5:00 p.m. (New York time) on the Revolving Credit Maturity
Date.

(c)                           The Swingline Commitment shall terminate
at 5:00 p.m. (New York time) on the Swingline Maturity Date.

(d)                           The New Term Loan Commitment for any
Series shall terminate at 5:00 p.m. (New York time) on the Increased Amount
Date for such Series.

SECTION 5.           Payments

5.1           Voluntary Prepayments.  The Borrower shall have the right to prepay
Term Loans, Revolving Credit Loans and Swingline Loans, without premium or
penalty,  in whole or in part from time
to time on the following terms and conditions: 
(a) the Borrower shall give the Administrative Agent at the
Administrative Agent’s Office written notice (or telephonic notice promptly
confirmed in writing) of its intent to make such prepayment, the amount of such
prepayment and in the case of Eurodollar Loans, the specific Borrowing(s)
pursuant to which made, which notice shall be given by the Borrower no later
than (i) in the case of Term Loans or Revolving Credit Loans,
1:00 p.m. (New York time) one Business Day prior to, or (ii) in the
case of Swingline Loans, 1:00 p.m. (New York time) on, the date of such
prepayment and shall promptly be transmitted by the Administrative Agent to
each of the Lenders or the Swingline Lender, as the case may be; (b) each
partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans
shall be in a multiple of $100,000 and in an aggregate principal amount of at
least $1,000,000 and each partial prepayment of Swingline Loans shall be in a
multiple of $100,000 and in an aggregate principal amount of at least $100,000;
provided, that no partial prepayment of Eurodollar Loans made pursuant
to a single Borrowing shall reduce the outstanding Eurodollar Loans made
pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount
for Eurodollar Loans; (c) any prepayment of Eurodollar Loans pursuant to this
Section 5.1 on any day other than the last day of an Interest Period
applicable thereto shall be subject to compliance by the Borrower with the
applicable provisions of Section 2.11. 
Each prepayment in respect of any tranche of Term Loans pursuant to this
Section 5.1 shall be applied to Term Loans in such manner as the Borrower
may determine.  At the Borrower’s
election in connection with any prepayment pursuant to this Section 5.1,
such prepayment shall not be applied to any Loan of a Defaulting Lender.

5.2           Mandatory Prepayments.  (a)  Term Loan Prepayments.  (i)  On each occasion that a Prepayment
Event occurs, the Borrower shall, within one Business Day after the occurrence
of a Debt Incurrence Prepayment Event and within five Business Days after the
receipt of Net Cash Proceeds in connection with the occurrence of any other
Prepayment Event, prepay, in accordance with paragraphs (c) and
(d) below, a principal amount of Term Loans in an amount equal to 100% of
the Net Cash Proceeds from such Prepayment Event.

(ii)           Not later than the date that is ninety days after the last
day of any fiscal year (commencing with the fiscal year ending December 31,
2006), the Borrower shall

 60
 

prepay, in accordance with paragraphs (c) and
(d) below, a principal of Term Loans in an amount equal to (x) 50% of Excess
Cash Flow for such fiscal year (provided such percentage shall be reduced to
(i) 25%  of Excess Cash Flow for such fiscal year so long as
immediately prior to such prepayment, but without giving effect to such prepayment,
the Borrower’s ratio of Consolidated Total Debt  on such
prepayment date to Consolidated EBITDA  for the most
recent Test Period ended prior to such prepayment date is no greater than
5.00:1.00 and (ii)  0% of Excess Cash Flow for such fiscal year so
long as immediately prior to such prepayment, but without giving effect to such
prepayment, the Borrower’s ratio of Consolidated Total
Debt  on such prepayment date to Consolidated
EBITDA  for the most recent Test Period ended prior to such
prepayment date is no greater than 4.00:1.00, minus (y) the principal
amount of Term Loans voluntarily prepaid pursuant to Section 5.1 during such
fiscal year, other than the Original Term Loans prepaid on the Effective Date
with the proceeds of the Tranche C Term Loans.

(b)           Repayment of Revolving Credit Loans.  If on any date the aggregate amount of the
Lenders’ Revolving Credit Exposures plus the aggregate principal amount of all
Swingline Loans exceeds the Total Revolving Credit Commitment as then in
effect, the Borrower shall forthwith repay on such date the principal amount of
Swingline Loans and, after all Swingline Loans have been paid in full,
Revolving Credit Loans in an amount equal to such excess.  If, after giving effect to the prepayment of
all outstanding Swingline Loans and Revolving Credit Loans, the aggregate
amount of the Lenders’ Revolving Credit Exposures exceed the Total Revolving
Credit Commitment then in effect, the Borrower shall pay to the Administrative
Agent an amount in cash equal to such excess and the Administrative Agent shall
hold such payment for the benefit of the Lenders as security for the
obligations of the Borrower hereunder (including obligations in respect of
Letter of Credit Outstandings) pursuant to a cash collateral agreement to be
entered into in form and substance satisfactory to the Administrative Agent
(which shall permit certain investments in Permitted Investments satisfactory
to the Administrative Agent, until the proceeds are applied to the secured
obligations).

(c)           Application to Repayment Amounts.  Each prepayment of Term Loans required by
Sections 5.2(a)(i) and (ii) shall be applied to reduce Tranche C Term Loan
Repayment Amounts to the extent not declined under subclause (ii) below in
direct order to the remaining Tranche C Term Loan Repayment Amounts.  With respect to each such prepayment,
(i) the Borrower will, not later than the date specified in
Section 5.2(a) for offering to make such prepayment, give the Administrative
Agent telephonic notice (promptly confirmed in writing) requesting that the
Administrative Agent provide notice of such prepayment to each Lender of Term
Loans, (ii) the Administrative Agent shall promptly provide notice of such
prepayment to each Lender of Term Loans, (iii) each Lender of Term Loans
will have the right to refuse any such prepayment by giving written notice of
such refusal to the Borrower within fifteen Business Days after such Lender’s
receipt of notice from the Administrative Agent of such prepayment (and the
Borrower shall not prepay any such Term Loans until the date that is specified
in the immediately following clause), (iv) the Borrower will make all such
prepayments not so refused upon the earlier of (x) such fifteenth Business Day
and (y) such time as the Borrower has received notice from each Lender
that it consents to or refuses such prepayment and (v) any prepayment so
refused may be retained by the Borrower; provided, that any prepayment
so refused that relates to Net Cash Proceeds from a Debt Incurrence Prepayment
Event in respect of

 61
 

the issuance of Permitted Additional Notes
shall be allocated to the then outstanding Term Loans and shall be applied as
set forth above in this paragraph (c).

(d)           Application to Term Loans.  With respect to each prepayment of Term Loans
required by Section 5.2(a), the Borrower may designate the Types of Loans that
are to be prepaid and the specific Borrowing(s) pursuant to which made; provided,
that the Borrower pays any amounts, if any, required to be paid pursuant to
Section 2.11 with respect to prepayments of Eurodollar Term Loans made on any
date other than the last day of the applicable Interest Period.  In the absence of a designation by the
Borrower as described in the preceding sentence, the Administrative Agent
shall, subject to the above, make such designation in its reasonable discretion
with a view, but no obligation, to minimize breakage costs owing under Section
2.11.

(e)           Application to Revolving Credit Loans.  With respect to each prepayment of Revolving
Credit Loans elected by the Borrower pursuant to Section 5.1 or required
by Section 5.2(b), the Borrower may designate (i) the Types of Loans
that are to be prepaid and the specific Borrowing(s) pursuant to which made and
(ii) the Revolving Credit Loans to be prepaid; provided, that (x)
Eurodollar Revolving Credit Loans may be designated for prepayment pursuant to
this Section 5.2 only on the last day of an Interest Period applicable
thereto unless all Eurodollar Loans with Interest Periods ending on such date
of required prepayment and all ABR Loans have been paid in full; (y) each
prepayment of any Loans made pursuant to a Borrowing shall be applied pro rata among such Loans; and (z)
notwithstanding the provisions of the preceding clause (y), no prepayment made
pursuant to Section 5.1 or Section 5.2(b) of Revolving Credit
Loans shall be applied to the Revolving Credit Loans of any Defaulting
Lender.  In the absence of a designation
by the Borrower as described in the preceding sentence, the Administrative
Agent shall, subject to the above, make such designation in its reasonable
discretion with a view, but no obligation, to minimize breakage costs owing
under Section 2.11.

(f)            Eurodollar Interest Periods.  In lieu of making any payment pursuant to
this Section 5.2 in respect of any Eurodollar Loan other than on the last
day of the Interest Period therefor so long as no Default or Event of Default
shall have occurred and be continuing, the Borrower at its option may deposit
with the Administrative Agent an amount equal to the amount of the Eurodollar
Loan to be prepaid and such Eurodollar Loan shall be repaid on the last day of
the Interest Period therefor in the required amount.  Such deposit shall be held by the
Administrative Agent in a corporate time deposit account established on terms
reasonably satisfactory to the Administrative Agent, earning interest at the
then-customary rate for accounts of such type. 
Such deposit shall constitute cash collateral for the Specified
Obligations, provided that the Borrower may at any time direct that such
deposit be applied to make the applicable payment required pursuant to this
Section 5.2.

(g)           Minimum Amount. 
No prepayment shall be required pursuant to
Section 5.2(a)(i) unless and until the amount at any time of Net Cash
Proceeds from Prepayment Events required to be applied at or prior to such time
pursuant to such Section and not yet applied at or prior to such time to prepay
Term Loans pursuant to such Section exceeds (i) $5,000,000 for any single
Prepayment Event or series of related Prepayment Events and (ii) $10,000,000 in
the aggregate for all such Prepayment Events.

 62
 

(h)           Foreign Asset Sales.  Notwithstanding any other provisions of this
Section 5.2, (i) to the extent that any of or all the Net Cash
Proceeds of any asset sale by a Restricted Foreign Subsidiary giving rise to an
Asset Sale Prepayment Event (a “Foreign Asset Sale”), the Net Cash
Proceeds of any Recovery Event from a Restricted Foreign Subsidiary (a “Foreign
Recovery Event”), or Excess Cash Flow are prohibited or delayed by
applicable local law from being repatriated to the United States, the portion
of such Net Cash Proceeds or Excess Cash Flow so affected will not be required
to be applied to repay Term Loans at the times provided in this
Section 5.2 but may be retained by the applicable Restricted Foreign
Subsidiary so long, but only so long, as the applicable local law will not
permit repatriation to the United States (the Borrower hereby agreeing to cause
the applicable Restricted Foreign Subsidiary to promptly take all actions
required by the applicable local law to permit such repatriation), and once
such repatriation of any of such affected Net Cash Proceeds or Excess Cash Flow
is permitted under the applicable local law, such repatriation will be
immediately effected and such repatriated Net Cash Proceeds or Excess Cash Flow
will be promptly (and in any event not later than two Business Days after such
repatriation) applied (net of additional taxes payable or reserved against as a
result thereof) to the repayment of the Term Loans pursuant to this
Section 5.2 and (ii) to the extent that the Borrower has determined
in good faith that repatriation of any of or all the Net Cash Proceeds of any
Foreign Asset Sale, any Foreign Recovery Event or Excess Cash Flow would have a
material adverse tax cost consequence with respect to such Net Cash Proceeds or
Excess Cash Flow, the Net Cash Proceeds or Excess Cash Flow so affected may be
retained by the applicable Restricted Foreign Subsidiary; provided,
that, in the case of this clause (ii), on or before the date on which any Net
Cash Proceeds so retained would otherwise have been required to be applied to
reinvestments or prepayments pursuant to Section 5.2(a) (or such
Excess Cash Flow would have been so required if it were Net Cash Proceeds), (x)
the Borrower applies an amount equal to such Net Cash Proceeds or Excess Cash
Flow to such reinvestments or prepayments as if such Net Cash Proceeds or
Excess Cash Flow had been received by the Borrower rather than such Restricted
Foreign Subsidiary, less the amount of additional taxes that would have been
payable or reserved against if such Net Cash Proceeds or Excess Cash Flow had
been repatriated (or, if less, the Net Cash Proceeds or Excess Cash Flow that
would be calculated if received by such Foreign Subsidiary) or (y) such Net
Cash Proceeds or Excess Cash Flow are applied to the repayment of Indebtedness
of a Restricted Foreign Subsidiary.

5.3           Method and Place of Payment.  (a)  Except as otherwise specifically
provided herein, all payments under this Agreement shall be made by the
Borrower, without set-off, counterclaim or deduction of any kind, to the
Administrative Agent for the ratable account of the Lenders entitled thereto,
the Letter of Credit Issuer or the Swingline Lender, as the case may be, not
later than 1:00 p.m. (New York time) on the date when due and shall be made in
immediately available funds in Dollars at the Administrative Agent’s Office, it
being understood that written or facsimile notice by the Borrower to the Administrative
Agent to make a payment from the funds in the Borrower’s account at the
Administrative Agent’s Office shall constitute the making of such payment to
the extent of such funds held in such account. 
The Administrative Agent will thereafter cause to be distributed on the
same day (if payment was actually received by the Administrative Agent prior to
2:00 p.m. (New York time) on such day) like funds relating to the payment of
principal or interest or Fees ratably to the Lenders entitled thereto or to the
Letter of Credit Issuer or the Swingline Lender, as applicable.

 63
 

(b)                           For purposes of computing interest or
fees, any payments under this Agreement that are made later than 2:00 p.m. (New
York time) shall be deemed to have been made on the next succeeding Business
Day.  Whenever any payment to be made
hereunder shall be stated to be due on a day that is not a Business Day, the
due date thereof shall be extended to the next succeeding Business Day and,
with respect to payments of principal, interest shall be payable during such
extension at the applicable rate in effect immediately prior to such extension.

5.4           Net Payments. 
(a)  Subject to the following sentence, all payments made by or on
behalf of the Borrower under this Agreement or any other Credit Document shall
be made free and clear of, and without deduction or withholding for or on
account of, any current or future income, stamp or other taxes, levies,
imposts, duties, charges, fees, deductions or withholdings, now or hereafter
imposed, levied, collected, withheld or assessed by any Governmental Authority,
excluding (i) net income taxes, branch profits taxes, and franchise taxes
(imposed in lieu of net income taxes) and capital taxes imposed on the
Administrative Agent or any Lender and (ii) any taxes imposed on the
Administrative Agent or any Lender as a result of a current or former
connection between the Administrative Agent or such Lender and the jurisdiction
of the Governmental Authority imposing such tax or any political subdivision or
taxing authority thereof or therein (other than any such connection arising
solely from the Administrative Agent or such Lender having executed, delivered
or performed its obligations or received a payment under, or enforced, this
Agreement).  If any such non-excluded
taxes, levies, imposts, duties, charges, fees, deductions or withholdings (“Non-Excluded
Taxes”) are required to be withheld from any amounts payable under this
Agreement, the Borrower shall increase the amounts payable to the
Administrative Agent or such Lender to the extent necessary to yield to the
Administrative Agent or such Lender (after payment of all Non-Excluded Taxes)
interest or any such other amounts payable hereunder at the rates or in the
amounts specified in this Agreement; provided, however, that the Borrower shall not be
required to increase any such amounts payable to any Lender that is not
organized under the laws of the United States of America or a state thereof (a “Non-U.S.
Lender”) if such Lender fails to comply with the requirements of
paragraph (b) of this Section 5.4.  Whenever any Non-Excluded Taxes are payable
by the Borrower, as promptly as possible thereafter the Borrower shall send to
the Administrative Agent for its own account or for the account of such Lender,
as the case may be, a certified copy of an original official receipt (or other
evidence acceptable to such Lender, acting reasonably) received by the Borrower
showing payment thereof.  If Non-Excluded
Taxes are paid by any Lender, the Borrower shall indemnify such Lender for such
Non-Excluded Taxes (including penalties, interest and reasonable expenses),
whether or not such Non-Excluded Taxes are correctly or legally asserted; provided,
however, that the Borrower shall not be obligated to indemnify any
Lender for any interest, penalties or expenses arising from the indemnitee’s
gross negligence or willful misconduct. The agreements in this
Section 5.4(a) shall survive the termination of this Agreement and
the payment of the Loans and all other amounts payable hereunder.

(b)           Each Non-U.S. Lender shall:

(i)            deliver to the Borrower and the Administrative Agent two
copies of either (x) in the case of Non-U.S. Lender claiming exemption from
U.S. Federal withholding tax under Section 871(h) or 881(c) of
the Code with respect to payments of “portfolio interest”,

 64
 

United States Internal Revenue Service Form
W-8BEN (together with a certificate representing that such Non-U.S. Lender is
not a bank for purposes of Section 881(c) of the Code, is not a
10-percent shareholder (within the meaning of Section 871(h)(3)(B) of
the Code) of the Borrower and is not a controlled foreign corporation related
to the Borrower (within the meaning of Section 864(d)(4) of the Code)), or
(y) Internal Revenue Service Form W-8BEN or Form W-8ECI, in each case properly
completed and duly executed by such Non-U.S. Lender claiming complete exemption
from, or reduced rate of, U.S. Federal withholding tax on payments by the
Borrower under this Agreement;

(ii)           deliver to the Borrower and the Administrative Agent two
further copies of any such form or certification (or any applicable successor
form) on or before the date that any such form or certification expires or
becomes obsolete and after the occurrence of any event requiring a change in
the most recent form previously delivered by it to the Borrower; and

(iii)          obtain such extensions of time for filing and complete such
forms or certifications as may reasonably be requested by the Borrower or the
Administrative Agent;

unless in any such case any change in treaty, law or
regulation has occurred prior to the date on which any such delivery would
otherwise be required that renders any such form inapplicable or would prevent
such Lender from duly completing and delivering any such form with respect to
it and such Lender so advises the Borrower and the Administrative Agent.  Each Person that shall become a Participant
pursuant to Section 13.6 or a Lender pursuant to Section 13.6 shall,
upon the effectiveness of the related transfer, be required to provide all the
forms and statements required pursuant to this Section 5.4(b), provided
that in the case of a Participant such Participant shall furnish all such
required forms and statements to the Lender from which the related
participation shall have been purchased.

(c)           The Borrower shall not be required to indemnify any
Non-U.S. Lender, or to pay any additional amounts to any Non-U.S. Lender, in
respect of U.S. Federal withholding tax pursuant to
paragraph (a) above to the extent that (i) the obligation to
withhold amounts with respect to U.S. Federal withholding tax existed on the
date such Non-U.S. Lender became a party to this Agreement (or, in the case of
a Participant that is not organized under the laws of the United States of
America or a state thereof (a “Non-U.S. Participant”), on the date such
Non-U.S. Participant became a Participant hereunder); provided, however, that
this clause (i) shall not apply to the extent that (x) the indemnity
payments or additional amounts any Lender (or Participant) would be entitled to
receive (without regard to this clause (i)) do not exceed the indemnity payment
or additional amounts that the person making the assignment, participation or
transfer to such Lender (or Participant) would have been entitled to receive in
the absence of such assignment, participation or transfer, or (y) such
assignment, participation or transfer had been requested by the Borrower or,
(ii) the obligation to pay such additional amounts would not have arisen
but for a failure by such Non-U.S. Lender or Non-U.S. Participant to comply
with the provisions of paragraph (b) above or (iii) any of the
representations or certifications made by a Non-U.S. Lender or Non-U.S.
Participant pursuant to paragraph (b) above are incorrect at the time
a payment hereunder is made, other than by reason of any change in treaty, law
or regulation having effect after the date such representations or
certifications were made.

 65

(d)                                 If
the Borrower determines in good faith that a reasonable basis exists for
contesting any taxes for which indemnification has been demanded hereunder, the
relevant Lender or the Administrative Agent, as applicable, shall cooperate
with such Borrower in challenging such taxes at Borrower’s expense if so
requested by Borrower.  If any Lender or
the Administrative Agent receives a refund of a tax for which a payment has
been made by the Borrower pursuant to this Agreement, which refund in the good
faith judgment of such Lender or the Administrative Agent, as the case may be,
is attributable to such payment made by such Borrower, then such Lender or the
Administrative Agent, as the case may be, shall reimburse the Borrower for such
amount (together with any interest received thereon) as such Lender or the
Administrative Agent, as the case may be, reasonably determines to be the
proportion of the refund as will leave it, after such reimbursement, in no
better or worse position than it would have been in if the payment had not been
required.  Any Lender or the
Administrative Agent shall claim any refund that it determines is available to
it, unless it concludes in its reasonable discretion that it would be adversely
affected by making such a claim.  Neither
any Lender nor the Administrative Agent shall be obliged to disclose any
information regarding its tax affairs or computations to the Borrower in
connection with this paragraph (d) or any other provision of this
Section 5.4.

(e)                                  Each
Lender represents and agrees that, on the date hereof and at all times during
the term of this Agreement, it is not and will not be a conduit entity
participating in a conduit financing arrangement (as defined in
Section 7701(1) of the Code and the regulations thereunder) with respect
to the Borrowings hereunder unless the Borrower has consented to such
arrangement prior thereto.

5.5                                 Computations
of Interest and Fees.  (a) 
Interest on Eurodollar Loans and, except as provided in the next succeeding
sentence, ABR Loans shall be calculated on the basis of a 360-day year for the
actual days elapsed.  Interest on ABR
Loans in respect of which the rate of interest is calculated on the basis of
the Prime Rate and interest on overdue interest shall be calculated on the
basis of a 365- (or 366-, as the case may be) day year for the actual days
elapsed.

(b)                                 Fees
and Letters of Credit Outstanding shall be calculated on the basis of a 365-
(or 366-, as the case may be) day year for the actual days elapsed.

5.6                                 Limit
on Rate of Interest.  (a)  No
Payment shall exceed Lawful Rate. 
Notwithstanding any other term of this Agreement, the Borrower shall not
be obliged to pay any interest or other amounts under or in connection with
this Agreement in excess of the amount or rate permitted under or consistent
with any applicable law, rule or regulation.

(b)                                 Payment
at Highest Lawful Rate.  If the
Borrower is not obliged to make a payment which it would otherwise be required
to make, as a result of Section 5.6(a), the Borrower shall make such
payment to the maximum extent permitted by or consistent with applicable laws,
rules and regulations.

(c)                                  Adjustment
if any Payment exceeds Lawful Rate. 
If any provision of this Agreement or any of the other Credit Documents
would obligate the Borrower to make any payment of interest or other amount
payable to any Lender in an amount or calculated at a rate

 66
 

which would be prohibited by any applicable
law, rule or regulation, then notwithstanding such provision, such amount or
rate shall be deemed to have been adjusted with retroactive effect to the
maximum amount or rate of interest, as the case may be, as would not be so
prohibited by law (in the case of the Borrower), such adjustment to be
effected, to the extent necessary, as follows:

(i)                                     firstly,
by reducing the amount or rate of interest required to be paid by the Borrower
to the affected Lender under Section 2.8; and

(ii)                                  thereafter,
by reducing any fees, commissions, premiums and other amounts required to be
paid by the Borrower to the affected Lender.

Notwithstanding the foregoing, and after giving effect
to all adjustments contemplated thereby, if any Lender shall have received from
the Borrower an amount in excess of the maximum permitted by any applicable
law, rule or regulation, then the Borrower shall be entitled, by notice in
writing to the Administrative Agent, to obtain reimbursement from such Lender
in an amount equal to such excess, and pending such reimbursement, such amount
shall be deemed to be an amount payable by such Lender to the Borrower.

SECTION 6.                                Conditions
Precedent to Effective Date

The occurrence of the borrowing of Tranche C Term
Loans under this Agreement is subject to the satisfaction of the following
conditions precedent:

6.1                                 Credit
Documents.  The Administrative Agent
shall have received:

(a)                                  this
Agreement, executed and delivered by (i) a duly authorized officer of each of
Holdings and the Borrower, (ii) each Agent, (iii) each Term Lender that is not
a Continuing Lender, (iv) the Administrative Agent on behalf of each Continuing
Lender that has executed and delivered a Lender Consent Letter  agreeing to the convert all or a portion of
such Lender’s Original Term Loans to Tranche C Term Loans; and

(b)                                 the Reaffirmation Agreement,
executed and delivered by a duly authorized officer of each of Holdings, the
Borrower and each other Guarantor as of the Effective Date.

6.2                                 Collateral.  All documents and instruments, including
Uniform Commercial Code or other applicable personal property security
financing statements, required to be filed, registered or recorded to continue
the Liens intended to be continued by the Security Documents, and with the
priority required by the Security Documents shall have been filed, registered
or recorded or delivered to the Collateral Agent for filing, registration or
recording.

6.3                                 Legal
Opinions.  The Administrative Agent
shall have received the following executed legal opinions:

(a)                                  the
legal opinion of Simpson Thacher & Bartlett LLP, special New York counsel
to Holdings, the Borrower and its Subsidiaries, substantially in the form of
Exhibit G-1;

 67
 

(b)                                 the
legal opinion of Ropes & Gray LLP, special Massachusetts counsel to LPL
Holdings, Inc., substantially in the form of Exhibit G-2;

(c)                                  the
legal opinion of Kirkpatrick & Lockhart Nicholson Graham LLP, special HUD
regulatory counsel to the Borrower and its Subsidiaries, substantially in the
form of Exhibit G-4; and

(d)                                 the
legal opinion of Bingham McCutcheon LLP, special broker-dealer regulatory
counsel to the Borrower and its Subsidiaries, substantially in the form of
Exhibit G-5.

6.4                                 No
Defaults; Representations and Warranties. 
After giving effect to each Credit Event occurring on the Effective
Date, and the other transactions contemplated hereby to occur on or prior to
the Effective Date, (a) no Default or Event of Default shall have occurred
and be continuing and (b) all representations and warranties made on the
Effective Date by any Credit Party contained herein or in the other Credit
Documents shall be true and correct as of the Effective Date (except where such
representations and warranties expressly relate to an earlier date, in which
case such representations and warranties shall have been true and correct as of
such earlier date).

6.5                                 Consent.  (a)  
The Administrative Agent shall have received written consents from the
Lenders (as defined in the Original Credit Agreement) which constitute Required
Lenders (as defined in the Original Credit Agreement) under the Original Credit
Agreement to the execution and delivery of this Agreement and the consummation of
the transactions contemplated hereby (it being agreed that the entering into
this Agreement by a Lender shall constitute such written consent); and

(b)                                 
the Administrative Agent shall have received reasonably satisfactory evidence
that the outstanding principal amount of, and all accrued and unpaid interest
and other amounts due and payable on, the Original Term Loans (except for
continuing indemnity obligations which survive the prepayment of such Original
Term Loans) shall have been paid in full with the proceeds of the Tranche C
Term Loans or by the Borrower.

6.6                                 Effective
Date Certificates.  The
Administrative Agent shall have received a certificate of each Person that is a
Credit Party as of the Effective Date, dated the Effective Date, substantially
in the form of Exhibit H, with appropriate insertions, executed by the
President or any Vice President and the Secretary or any Assistant Secretary of
such Credit Party, and attaching the documents referred to in Sections 6.7 and
6.8 (if applicable).

6.7                                 Corporate
Proceedings.  The Administrative
Agent shall have received a copy of the resolutions, in form and substance
reasonably satisfactory to the Administrative Agent, of the Board of Directors
or other governing body, as applicable, of each Person that is a Credit Party
as of the Effective Date (or a duly authorized committee thereof) authorizing
(a) the execution, delivery and performance of the Credit Documents (and
any agreements relating thereto) to which it is a party and (b) in the case
of the Borrower, the extensions of credit contemplated hereunder; provided
that, in lieu of delivery of each of the resolutions set forth in this Section
6.7, each applicable Credit Party may deliver a certificate executed by the
President or any Vice President of such Credit Party certifying that there have

 68
 

been no material amendments to those resolutions
previously delivered to the Administrative Agent on the Closing Date pursuant
to Section 6.10 of the Original Credit Agreement.

6.8                                 Corporate
Documents.  The Administrative Agent
shall have received true and complete copies of the certificate of
incorporation and by laws (or equivalent organizational documents) of each
Person that is a Credit Party as of the Effective Date; provided that,
in lieu of delivery of each of the documents set forth in this Section 6.8,
each applicable Credit Party may deliver a certificate executed by the
President or any Vice President of such Credit Party certifying that there have
been no material amendments to those documents previously delivered to the
Administrative Agent on the Closing Date pursuant to Section 6.11 of the
Original Credit Agreement.

6.9                                 Fees
and Expenses.  The fees in the
amounts previously agreed in writing by the Agents and the Lenders to be
received on the Effective Date and all reasonable out-of-pocket expenses
(including the reasonable fees, disbursements and other charges of counsel) for
which invoices have been presented on or prior to the Effective Date shall have
been paid.

6.10                           Solvency
Certificate.  The Administrative
Agent shall have received a certificate from the chief financial officer of the
Borrower in form, scope and substance reasonably satisfactory to Administrative
Agent, with appropriate attachments and demonstrating that after giving effect
to the transactions contemplated hereby, the Borrower and its Subsidiaries,
taken as a whole, are Solvent.

SECTION 7.                                Additional
Conditions Precedent

7.1                                 No
Default; Representations and Warranties. 
The agreement of each Lender to make any Loan requested to be made by it
on any date after the date of the initial Credit Event (excluding Mandatory
Borrowings) and the obligation of the Letter of Credit Issuer to issue Letters
of Credit on any date after the date of the Effective Date is subject to the
satisfaction of the condition precedent that at the time of each such Credit
Event and also after giving effect thereto (a) no Default or Event of
Default shall have occurred and be continuing and (b) all representations
and warranties made by any Credit Party contained herein or in the other Credit
Documents shall be true and correct in all material respects with the same
effect as though such representations and warranties had been made on and as of
the date of such Credit Event (except where such representations and warranties
expressly relate to an earlier date, in which case such representations and
warranties shall have been true and correct in all material respects as of such
earlier date).  The acceptance of the
benefits of each Credit Event shall constitute a representation and warranty by
each Credit Party to each of the Lenders that the conditions contained in this
Section 7.1 have been met as of such date.

7.2                                 Notice
of Borrowing; Letter of Credit Request. 
(a)  Prior to the making of each Term Loan, each Revolving Credit
Loan (other than any Revolving Credit Loan made pursuant to
Section 3.4(a)) and each Swingline Loan, the Administrative Agent shall
have received a Notice of Borrowing (whether in writing or by telephone)
meeting the requirements of Section 2.3.

 69
 

(b)                                                                                 Prior
to the issuance of each Letter of Credit, the Administrative Agent and the
Letter of Credit Issuer shall have received a Letter of Credit Request meeting
the requirements of Section 3.2(a).

SECTION 8.                                Representations,
Warranties and Agreements

In order to induce the Lenders to enter into this
Agreement, make the Loans and issue or participate in Letters of Credit as
provided for herein, each of Holdings and the Borrower make the following
representations and warranties to, and agreements with, the Lenders, all of
which shall survive the execution and delivery of this Agreement, the making of
the Loans and the issuance of the Letters of Credit:

8.1                                 Corporate
Status.  Holdings, the Borrower and
each Material Subsidiary (a) is a duly organized and validly existing
corporation or other entity in good standing under the laws of the jurisdiction
of its organization and has the corporate or other organizational power and
authority to own its property and assets and to transact the business in which
it is engaged and (b) has duly qualified and is authorized to do business
and is in good standing in all jurisdictions where it is required to be so
qualified, except where the failure to be so qualified could not reasonably be
expected to result in a Material Adverse Effect.

8.2                                 Corporate
Power and Authority.  Each Credit
Party has the corporate or other organizational power and authority to execute,
deliver and carry out the terms and provisions of the Credit Documents to which
it is a party and has taken all necessary corporate or other organizational
action to authorize the execution, delivery and performance of the Credit
Documents to which it is a party.  Each
Credit Party has duly executed and delivered each Credit Document to which it
is a party and each such Credit Document constitutes the legal, valid and
binding obligation of such Credit Party enforceable in accordance with its
terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance,
reorganization and other similar laws relating to or affecting creditors’
rights generally and general principles of equity (whether considered in a
proceeding in equity or law).

8.3                                 No
Violation.  None of (a) the
execution, delivery and performance by any Credit Party of the Credit Documents
to which it is a party and compliance with the terms and provisions thereof, or
(b) the consummation of the other transactions contemplated hereby or
thereby on the relevant dates therefor will (i) contravene any applicable
provision of any material law, statute, rule, regulation, order, writ,
injunction or decree of any court or governmental instrumentality,
(ii) result in any breach of any of the terms, covenants, conditions or
provisions of, or constitute a default under, or result in the creation or imposition
of (or the obligation to create or impose) any Lien upon any of the property or
assets of any of the Borrower or any of the Restricted Subsidiaries (other than
Liens created under the Credit Documents) pursuant to, the terms of any
material indenture (including the Senior Unsecured Subordinated Note
Indenture), loan agreement, lease agreement, mortgage, deed of trust, agreement
or other material instrument to which Holdings, the Borrower or any of their
Restricted Subsidiaries is a party or by which they or any of their property or
assets is bound or (iii) violate any provision of the certificate of
incorporation, By-Laws or other constitutional documents of Holdings, the
Borrower or any of their Restricted Subsidiaries.

 70
 

8.4                                 Litigation.  There are no actions, suits or proceedings
(including Environmental Claims) pending or, to the knowledge of Holdings,
threatened with respect to Holdings or any of its Subsidiaries that could
reasonably be expected to result in a Material Adverse Effect.

8.5                                 Margin
Regulations.  Neither the making of
any Loan hereunder nor the use of the proceeds thereof will violate the
provisions of Regulation T, U or X of the Board.

8.6                                 Governmental
Approvals.  Except as set forth in
Schedule 8.6, no order, consent, approval, license, authorization, or
validation of, or filing, recording or registration with, or exemption by, any
Governmental Authority is required to authorize or is required in connection
with (a) the execution, delivery and performance of any Credit Document or
(b) the legality, validity, binding effect or enforceability of any Credit
Document, except, in the case of either clause (a) or clause (b), the failure
to obtain or make any of the foregoing could not reasonably be expected to have
a Material Adverse Effect.

8.7                                 Investment
Company Act.  The Borrower is not an “investment
company” within the meaning of the Investment Company Act of 1940, as amended.

8.8                                 True
and Complete Disclosure.  (a) 
None of the factual information and data (taken as a whole) furnished by Holdings,
any of its Subsidiaries or any of their respective authorized representatives
in writing to any Agent or any Lender on or before the Effective Date
(including (i) the Confidential Information Memorandum and (ii) all
information contained in the Credit Documents) for purposes of or in connection
with this Agreement or any transaction contemplated herein contained any untrue
statement of material fact or omitted to state any material fact necessary to
make such information and data (taken as a whole) not materially misleading at
such time in light of the circumstances under which such information or data
was furnished, it being understood and agreed that for purposes of this
Section 8.8(a), such factual information and data shall not include
projections and pro forma financial information.

(b)                                 The
projections and pro forma financial information contained in the information
and data referred to in paragraph (a) above were prepared in good
faith based upon assumptions believed by such Persons to be reasonable at the
time made, it being recognized by the Lenders that such projections as to
future events are not to be viewed as facts and that actual results during the
period or periods covered by any such projections may differ from the projected
results.

8.9                                 Financial
Condition; Financial Statements.  The
Historical Financial Statements, in each case present or will, when provided,
present fairly in all material respects the financial position and results of
operations of the Borrower and its Subsidiaries at the respective dates of such
information and for the respective periods covered thereby subject, in the case
of the unaudited financial information, to changes resulting from audit, normal
year end audit adjustments and the absence of footnotes.  The Historical Financial Statements have been
prepared in accordance with GAAP consistently applied except to the extent
provided in the notes thereto.  There has
been no Material Adverse Change since December 31, 2004, other than solely as a
result of changes in general economic conditions.

 71
 

8.10                           Tax
Returns and Payments, etc.  Holdings
and its Subsidiaries have filed all Federal income tax returns and all other
material tax returns, domestic and foreign, required to be filed by them and
have paid all material taxes and assessments payable by them that have become
due, other than those not yet delinquent or contested in good faith.  Holdings and its Subsidiaries have paid, or
have provided adequate reserves (in the good faith judgment of the management
of the Borrower) in accordance with GAAP for the payment of, all material
Federal, state and foreign income taxes applicable for all prior fiscal years
and for the current fiscal year to the Effective Date.

8.11                           Compliance
with ERISA.  Each Plan is in
compliance with ERISA, the Code and any Applicable Law; no Reportable Event has
occurred (or is reasonably likely to occur) with respect to any Plan; no Plan
is insolvent or in reorganization (or is reasonably likely to be insolvent or
in reorganization), and no written notice of any such insolvency or
reorganization has been given to any of the Borrower, any Subsidiary thereof or
any ERISA Affiliate; no Plan (other than a multiemployer plan) has an
accumulated or waived funding deficiency (or is reasonably likely to have such
a deficiency); none of Holdings, any Subsidiary thereof or any ERISA Affiliate
has incurred (or is reasonably likely expected to incur) any liability to or on
account of a Plan pursuant to Section 409, 502(i), 502(l), 515, 4062,
4063, 4064, 4069, 4201 or 4204 of ERISA or Section 4971 or 4975 of the
Code or has been notified in writing that it will incur any liability under any
of the foregoing Sections with respect to any Plan; no proceedings have been
instituted (or are reasonably likely to be instituted) to terminate or to
reorganize any Plan or to appoint a trustee to administer any Plan, and no
written notice of any such proceedings has been given to any of Holdings, any
Subsidiary thereof or any ERISA Affiliate; and no lien imposed under the Code
or ERISA on the assets of any of the Borrower, any Subsidiary thereof or any
ERISA Affiliate exists (or is reasonably likely to exist) nor has Holdings, any
Subsidiary thereof or any ERISA Affiliate been notified in writing that such a
lien will be imposed on the assets of any of Holdings, any Subsidiary thereof
or any ERISA Affiliate on account of any Plan, except to the extent that a
breach of any of the representations, warranties or agreements in this
Section 8.11 would not result, individually or in the aggregate, in an
amount of liability that would be reasonably likely to have a Material Adverse
Effect or relates to any matter disclosed in the financial statements of the
Borrower contained in the Confidential Information Memorandum.  No Plan (other than a multiemployer plan) has
an Unfunded Current Liability that would, individually or when taken together
with any other liabilities referenced in this Section 8.11, be reasonably
likely to have a Material Adverse Effect. 
With respect to Plans that are multiemployer plans (as defined in
Section 3(37) of ERISA), the representations and warranties in this
Section 8.11, other than any made with respect to (a) liability under
Section 4201 or 4204 of ERISA or (b) liability for termination or
reorganization of such Plans under ERISA, are made to the best knowledge of the
Borrower.

8.12                           Subsidiaries.  On the Effective Date, Holdings does not have
any Subsidiaries other than the Subsidiaries listed on Schedule 8.12.  Schedule 8.12 describes the direct and
indirect ownership interest of Holdings in each Subsidiary as of the Effective
Date.  To the knowledge of Holdings,
after due inquiry, each Material Subsidiary and Specified Subsidiary as of the
Effective Date has been so designated on Schedule 8.12.

8.13                           Patents,
etc.  The Borrower and each of the
Restricted Subsidiaries have obtained all patents, trademarks, servicemarks,
trade names, copyrights, licenses and other

 72
 

rights, free from burdensome restrictions, that are
necessary for the operation of their respective businesses as currently
conducted and as proposed to be conducted, except where the failure to obtain
any such rights could not reasonably be expected to have a Material Adverse
Effect.

8.14                           Environmental
Laws.  (a)  Except as could not
reasonably be expected to have a Material Adverse Effect, (i) Holdings and
each of its Subsidiaries are in compliance with all Environmental Laws in all
jurisdictions in which Holdings and each of its Subsidiaries are currently
doing business (including having obtained all material permits required under
Environmental Laws) and (ii) neither Holdings nor any of its Subsidiaries
has become subject to any Environmental Claim or any other liability under any
Environmental Law.

(b)                                 Neither
Holdings nor any of its Subsidiaries has treated, stored, transported, released
or disposed of Hazardous Materials at or from any currently or formerly owned
Real Estate or facility relating to its business in a manner that could
reasonably be expected to have a Material Adverse Effect.

8.15                           Properties,
Assets and Rights.  Holdings and each
of its Subsidiaries have good and marketable title to or valid leasehold
interest in all properties that are necessary for the operation of their
respective businesses as currently conducted and as proposed to be conducted,
free and clear of all Liens (other than Liens permitted by Section 10.2)
and except where the failure to have such good title could not reasonably be
expected to have a Material Adverse Effect. 
As of the Effective Date, Holdings and each of its Subsidiaries possess
or have the right to use, under contract or otherwise, all assets and rights
that are material to the operation of their respective businesses as currently
conducted and as proposed to be conducted.

8.16                           Certain
Fees. Except with respect to the Arranger and the Agents, no broker’s or
finder’s fee or commission will be payable by any Credit Party with respect
hereto or any of the transactions contemplated hereby.

8.17                           Solvency.  On the Effective Date after giving effect to
the transactions contemplated hereby, the Credit Parties, on a consolidated
basis, are Solvent.

8.18                           Capital
Stock.  The Capital Stock of each of
Holdings and its Domestic Subsidiaries has been duly authorized and validly
issued and, with respect to Holdings, the Borrower and each Domestic Subsidiary
that is a corporation, is fully paid and non assessable.  Except as set forth on Schedule 8.18, as of
the Effective Date, there is no existing option, warrant, call, right,
commitment or other agreement to which Holdings or any of its Subsidiaries is a
party requiring, and there is no membership interest or other Capital Stock of
Holdings or any of its Subsidiaries outstanding which upon conversion or
exchange would require, the issuance by Holdings or any of its Subsidiaries of
any additional membership interests or other Capital Stock of Holdings or any
of its Subsidiaries or other Securities convertible into, exchangeable for or
evidencing the right to subscribe for or purchase, a membership interest or
other Capital Stock of Holdings or any of its Subsidiaries.

 

8.19                           No
Defaults.  Neither Holdings nor any
of its Subsidiaries is in default in the performance, observance or fulfillment
of any of the obligations, covenants or conditions contained in any of its
Contractual Obligations (other than Contractual Obligations in

 73
 

respect of Indebtedness), and no condition
exists which, with the giving of notice or the lapse of time or both, could
constitute such a default, except where the consequences, direct or indirect,
of such default or defaults, if any, could not reasonably be expected to have a
Material Adverse Effect.

8.20                           Employee
Matters.  Except as, in the
aggregate, could not reasonably be expected to have a Material Adverse
Effect:  (a) there are no strikes or
other labor disputes against any of Holdings, the Borrower or its Subsidiaries
pending or, to the knowledge of Holdings or the Borrower, threatened; (b) hours
worked by and payment made to employees of each of Holdings, the Borrower or
its Subsidiaries have not been in violation of the Fair Labor Standards Act or
any other Applicable Laws dealing with such matters; and (c) all payments due
from any of Holdings, the Borrower or its Subsidiaries on account of employee
health and welfare insurance have been paid or accrued as a liability on the
books of the relevant party.

8.21                           Senior
Indebtedness.  The Obligations
constitute “Senior Indebtedness” under and as defined in the Senior Unsecured
Subordinated Indenture.  The obligations
of each Guarantor under the Guarantee constitute “Guarantor Senior
Indebtedness” of such Guarantor under and as defined in the Senior Unsecured
Subordinated Indenture.

8.22                           Patriot
Act.  To the extent applicable, as of
the Effective Date, each Credit Party is in compliance, in all material respects,
with the (i) Trading with the Enemy Act, as amended, and each of the
foreign assets control regulations of the United States Treasury Department (31
CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or
executive order relating thereto, and (ii) Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism (USA Patriot Act of 2001).  No
part of the proceeds of the Loans will be used, directly or indirectly, for any
payments to any governmental official or employee, political party, official of
a political party, candidate for political office, or anyone else acting in an
official capacity, in order to obtain, retain or direct business or obtain any
improper advantage, in violation of the United States Foreign Corrupt Practices
Act of 1977, as amended.

SECTION 9.                                Affirmative
Covenants

Each of Holdings and the Borrower hereby covenants and
agrees that on the Closing Date and thereafter, until the Commitments and all
Letters of Credit have terminated (unless such Letters of Credit have been
collateralized on terms and conditions satisfactory to the Letter of Credit
Issuer following the termination of the Commitments) and the Loans and Unpaid
Drawings, together with interest, Fees and all other Obligations (excluding
contingent indemnification obligations or Obligations with respect to Hedging
Agreements) incurred hereunder, are paid in full:

9.1                                 Information
Covenants.  The Borrower will furnish
to the Administrative Agent for further delivery to each Lender:

(a)                                  Annual
Financial Statements.  As soon as
available and in any event on or before the date on which such financial
statements are required to be filed with the SEC (or, if such financial
statements are not required to be filed with the SEC, on or before the date
that is

 74
 

90 days after the end of each such fiscal
year), the consolidated balance sheet of the Borrower and its Subsidiaries as
at the end of such fiscal year, and the related consolidated statement of
operations and cash flows for such fiscal year, setting forth comparative
consolidated figures for the preceding fiscal year, and certified by
independent certified public accountants of recognized national standing whose
opinion shall not be qualified as to the scope of audit or as to the status of
the Borrower or any of the Material Subsidiaries as a going concern, together
in any event with a certificate of such accounting firm stating that in the
course of its regular audit of the business of the Borrower and the Material Subsidiaries,
which audit was conducted in accordance with generally accepted auditing
standards, such accounting firm has obtained no knowledge of any Default or
Event of Default relating to Section 10.9 or 10.10 that has occurred and
is continuing or, if in the opinion of such accounting firm such a Default or
Event of Default has occurred and is continuing, a statement as to the nature
thereof.  Notwithstanding the foregoing,
the obligations in this clause (a) may be satisfied with respect to financial
information of the Borrower and the Restricted Subsidiaries by furnishing (A)
the applicable financial statements of Holdings (or any direct or indirect
parent of Holdings) or (B) the Borrower’s or Holdings’ (or any direct or
indirect parent thereof), as applicable, Form 10-K or 10-Q, as applicable,
filed with the SEC; provided, that, with respect to each of
clauses (A) and (B), to the extent such information relates to Holdings (or a
parent thereof), such information is accompanied by consolidating information
that explains in reasonable detail the differences between the information
relating to Holdings (or such parent), on the one hand, and the information
relating to the Borrower and the Restricted Subsidiaries on a standalone basis,
on the other hand.

(b)                                 Quarterly
Financial Statements.  As soon as
available and in any event on or before the date on which such financial
statements are required to be filed with the SEC with respect to each of the
first three quarterly accounting periods in each fiscal year of the Borrower
(or, if such financial statements are not required to be filed with the SEC, on
or before the date that is 45 days after the end of each such quarterly
accounting period), the consolidated balance sheet of the Borrower and its
Subsidiaries as at the end of such quarterly period and the related
consolidated statement of operations for such quarterly accounting period and
for the elapsed portion of the fiscal year ended with the last day of such
quarterly period, and the related consolidated statement of cash flows for the
elapsed portion of the fiscal year ended with the last day of such quarterly
period, and setting forth comparative consolidated figures for the related
periods in the prior fiscal year or, in the case of such consolidated balance
sheet, for the last day of the prior fiscal year, all of which shall be
certified by an Authorized Officer of the Borrower, subject to changes
resulting from audit, normal year-end audit adjustments and the absence of
footnotes.  Notwithstanding the foregoing,
the obligations in this clause (b) may be satisfied with respect to financial
information of the Borrower and the Restricted Subsidiaries by furnishing
(A) the applicable financial statements of Holdings (or any direct or
indirect parent of Holdings) or (B) the Borrower’s or Holdings’ (or any direct
or indirect parent thereof), as applicable, Form 10-K or 10-Q, as applicable,
filed with the SEC; provided, that, with respect to each of clauses (A)
and (B), to the extent such information relates to Holdings (or a parent
thereof), such information is accompanied by consolidating information that
explains in reasonable detail the differences between the information relating
to Holdings (or such parent), on the one hand, and the information relating to
the Borrower and the Restricted Subsidiaries on a standalone basis, on the
other hand.

 75
 

(c)                                  Budgets.  Within 60 days after the commencement of each
fiscal year of the Borrower, a budget of the Borrower and its Subsidiaries in
reasonable detail for the fiscal year as customarily prepared by management of
the Borrower for its internal use consistent in scope with the financial
statements provided pursuant to Section 9.1(a), setting forth the
principal assumptions upon which such budget is based.

(d)                                 Officer’s
Certificates.  At the time of the
delivery of the financial statements provided for in Sections 9.1(a) and
(b), a certificate of an Authorized Officer of the Borrower to the effect that
no Default or Event of Default exists or, if any Default or Event of Default
does exist, specifying the nature and extent thereof, which certificate shall
set forth (i) the calculations required to establish whether the Borrower
and its Subsidiaries were in compliance with the provisions of Sections 10.9
and 10.10 as at the end of such fiscal year or period, as the case may be,
(ii) a specification of any change in the identity of the Restricted
Subsidiaries, Unrestricted Subsidiaries and Foreign Subsidiaries as at the end
of such fiscal year or period, as the case may be, from the Restricted
Subsidiaries, Unrestricted Subsidiaries and Foreign Subsidiaries, respectively,
provided to the Lenders on the Effective Date or the most recent fiscal year or
period, as the case may be, (iii) the then applicable Status and (iv) the
amount of any Pro Forma Adjustment not previously set forth in a Pro Forma
Adjustment Certificate or any change in the amount of a Pro Forma Adjustment
set forth in any Pro Forma Adjustment Certificate previously provided and, in
either case, in reasonable detail, the calculations and basis therefor.  At the time of the delivery of the financial
statements provided for in Section 9.1(a), (i) a certificate of an Authorized
Officer of the Borrower setting forth in reasonable detail the calculation of
the Available Amount as at the end of the fiscal year to which such financial
statements relate and (ii) a certificate of an Authorized Officer and the chief
legal officer of the Borrower setting forth the information required pursuant
to Section 2 of the Perfection Certificate or confirming that there has been no
change in such information since the Closing Date or the date of the most
recent certificate delivered pursuant to this subsection (d), as the case may
be.

(e)                                  Notice
of Default or Litigation.  Promptly
after an Authorized Officer of the Borrower or any of its Subsidiaries obtains
knowledge thereof, notice of (i) the occurrence of any event that
constitutes a Default or an Event of Default, which notice shall specify the
nature thereof, the period of existence thereof and what action the Borrower
proposes to take with respect thereto, and (ii) any litigation or
governmental proceeding pending against the Borrower or any of its Subsidiaries
that could reasonably be expected to result in a Material Adverse Effect.

(f)                                    Environmental
Matters.  Promptly after obtaining
knowledge of any one or more of the following environmental matters, unless
such environmental matters would not, individually or when aggregated with all
other such matters, be reasonably expected to result in a Material Adverse
Effect:

(i)                                     any
pending or threatened Environmental Claim against Holdings or any of its
Subsidiaries or any Real Estate;

(ii)                                  any
condition or occurrence on any Real Estate that (x) results in noncompliance by
Holdings or any of its Subsidiaries with any applicable Environmental Law or

 76
 

(y) could reasonably be anticipated to form
the basis of an Environmental Claim against Holdings or any of its Subsidiaries
or any Real Estate;

(iii)                               any
condition or occurrence on any Real Estate that could reasonably be anticipated
to cause such Real Estate to be subject to any restrictions on the ownership,
occupancy, use or transferability of such Real Estate under any Environmental
Law; and

(iv)                              the
taking of any removal or remedial action in response to the actual or alleged
presence of any Hazardous Material on any Real Estate.

All such notices shall describe in reasonable detail
the nature of the claim, investigation, condition, occurrence or removal,
remedial action and the response thereto. 
The term “Real Estate” shall mean land, buildings and improvements owned
or leased by Holdings or any of its Subsidiaries, but excluding all operating
fixtures and equipment, whether or not incorporated into improvements.

(g)                                 Other
Information.  Promptly upon filing
thereof, copies of any filings (including on Form 10-K, 10-Q or 8-K) or
registration statements with, and reports to, the SEC or any analogous
Government Authority in any relevant jurisdiction by Holdings or any of its
Subsidiaries (other than amendments to any registration statement (to the
extent such registration statement, in the form it becomes effective, is
delivered to the Administrative Agent for further delivery to the Lenders),
exhibits to any registration statement and, if applicable, any registration
statements on Form S-8) and copies of all financial statements, proxy
statements, notices and reports that Holdings or any of its Subsidiaries shall
send to the holders of any publicly issued debt of Holdings and/or any of its
Subsidiaries (including the Senior Unsecured Subordinated Notes (whether
publicly issued or not)) in their capacity as such holders (in each case to the
extent not theretofore delivered to the Administrative Agent for further
delivery to the Lenders pursuant to this Agreement) and, with reasonable
promptness, such other information (financial or otherwise) as the
Administrative Agent on its own behalf or on behalf of any Lender may
reasonably request in writing from time to time.

(h)                                 Pro
Forma Adjustment Certificate.  Not
later than any date on which financial statements are delivered with respect to
any six-quarter period in which a Pro Forma Adjustment is made as a result of
the consummation of the acquisition of any Acquired Entity or Business by the
Borrower or any Restricted Subsidiary for which there shall be a Pro Forma
Adjustment, a certificate of an Authorized Officer of the Borrower setting
forth the amount of such Pro Forma Adjustment and, in reasonable detail, the
calculations and basis therefor.

9.2                                 Books,
Records and Inspections.  Holdings
and the Borrower will, and will cause each of their Subsidiaries to, conduct
meetings with the Borrower (which meetings, unless an Event of Default has
occurred and is continuing, shall only occur once per calendar year and may be
conducted via teleconference), permit (to the extent that it is within such
party’s control to permit such inspection) officers and designated
representatives of the Administrative Agent or the Required Lenders
(coordinated through the Administrative Agent) to visit and inspect any of the
properties or assets of Holdings, the Borrower and any such Subsidiary in
whomsoever’s possession, and to examine the books of account of Holdings, the

 77
 

Borrower and any such Subsidiary (other than materials
protected by attorney-client privilege) and discuss the affairs, finances
and accounts of Holdings, the Borrower and any such Subsidiary with, and be
advised as to the same by, its and their officers and independent accountants
(so long as the Borrower is afforded an opportunity to be present at such
discussion with such independent accountants), all at such reasonable times and
intervals and to such reasonable extent as the Administrative Agent or the
Required Lenders may reasonably request.

9.3                                 Maintenance
of Insurance.  Holdings and the
Borrower will, and will cause each of the Material Subsidiaries to, at all
times maintain in full force and effect, with insurance companies that the
Borrower believes (in the good faith judgment of the management of the Borrower)
are financially sound and responsible at the time the relevant coverage is
placed or renewed, insurance in at least such amounts and against at least such
risks (and with such risk retentions) as are usually insured against in the
same general area by companies engaged in the same or similar business as that
of the Borrower and its Subsidiaries; and will furnish to the Administrative
Agent for further delivery to the Lenders, upon written request from the
Administrative Agent, information presented in reasonable detail as to the
insurance so carried.

9.4                                 Payment
of Taxes.  Holdings and the Borrower
will pay and discharge, and will cause each of their respective Subsidiaries to
pay and discharge, all material taxes, assessments and governmental charges or
levies imposed upon it or upon its income or profits, or upon any properties
belonging to it, prior to the date on which material penalties attach thereto,
and all lawful material claims that, if unpaid, could reasonably be expected to
become a material Lien upon any properties of Holdings, the Borrower or any of
the Restricted Subsidiaries; provided, that neither Holdings, the
Borrower nor any of their Subsidiaries shall be required to pay any such tax,
assessment, charge, levy or claim that is being contested in good faith and by
proper proceedings if it has maintained adequate reserves (in the good faith
judgment of the management of the Borrower) with respect thereto in accordance
with GAAP.

9.5                                 Consolidated
Corporate Franchises.  Holdings and
the Borrower will do, and will cause each Material Subsidiary to do, or cause
to be done, all things necessary to preserve and keep in full force and effect
its existence, corporate rights and authority, except to the extent that the
failure to do so could not reasonably be expected to have a Material Adverse
Effect; provided, however, that Holdings, the Borrower and its
Subsidiaries may consummate any transaction permitted under Section 10.3,
10.4 or 10.5.

9.6                                 Compliance
with Statutes.  Holdings and the
Borrower will, and will cause each of their Subsidiaries to, comply with all
applicable laws, rules, regulations and orders (including Environmental Laws
and permits required thereunder), except to the extent the failure to do so
could not reasonably be expected to have a Material Adverse Effect.

9.7                                 ERISA.  Promptly after Holdings, the Borrower or any
of their Subsidiaries or any ERISA Affiliate knows or has reason to know of the
occurrence of any of the following events that, individually or in the
aggregate (including in the aggregate such events previously disclosed or
exempt from disclosure hereunder, to the extent the liability therefor remains
outstanding), would be reasonably likely to have a Material Adverse Effect, the
Borrower will deliver to each of the Lenders a certificate of an Authorized
Officer or any other senior officer of the Borrower setting forth details as to
such occurrence and the action, if any,

 78
 

that the Borrower, such Subsidiary or such ERISA
Affiliate is required or proposes to take, together with any notices (required,
proposed or otherwise) given to or filed with or by the Borrower, such
Subsidiary, such ERISA Affiliate, the PBGC, a Plan participant (other than
notices relating to an individual participant’s benefits) or the Plan administrator
with respect thereto: that a Reportable Event has occurred; that an accumulated
funding deficiency has been incurred or an application is to be made to the
Secretary of the Treasury for a waiver or modification of the minimum funding
standard (including any required installment payments) or an extension of any
amortization period under Section 412 of the Code with respect to a Plan;
that a Plan having an Unfunded Current Liability has been or is to be
terminated, reorganized, partitioned or declared insolvent under Title IV of
ERISA (including the giving of written notice thereof); that a Plan has an
Unfunded Current Liability that has or will result in a lien under ERISA or the
Code; that proceedings will be or have been instituted to terminate a Plan
having an Unfunded Current Liability (including the giving of written notice
thereof); that a proceeding has been instituted against the Borrower, a
Subsidiary thereof or an ERISA Affiliate pursuant to Section 515 of ERISA
to collect a delinquent contribution to a Plan; that the PBGC has notified the
Borrower, any Subsidiary thereof or any ERISA Affiliate of its intention to
appoint a trustee to administer any Plan; that the Borrower, any Subsidiary
thereof or any ERISA Affiliate has failed to make a required installment or
other payment pursuant to Section 412 of the Code with respect to a Plan;
or that the Borrower, any Subsidiary thereof or any ERISA Affiliate has
incurred or will incur (or has been notified in writing that it will incur) any
liability (including any contingent or secondary liability) to or on account of
a Plan pursuant to Section 409, 502(i), 502(l), 515, 4062, 4063, 4064,
4069, 4201 or 4204 of ERISA or Section 4971 or 4975 of the Code.

9.8                                 Good
Repair.  Each of Holdings and the
Borrower will, and will cause each of their Restricted Subsidiaries to, ensure
that its properties and equipment used or useful in its business in whomsoever’s
possession they may be to the extent that it is within the control of such
party to cause same, are kept in good repair, working order and condition,
normal wear and tear excepted, and that from time to time there are made in
such properties and equipment all needful and proper repairs, renewals,
replacements, extensions, additions, betterments and improvements thereto, to
the extent and in the manner customary for companies in the same or similar
business as that of the Borrower and its Subsidiaries and consistent with third
party leases, except in each case to the extent the failure to do so could not be
reasonably expected to have a Material Adverse Effect.

9.9                                 Transactions
with Affiliates.  Holdings and the
Borrower will conduct, and cause each of the Restricted Subsidiaries to
conduct, all transactions with any of its Affiliates (other than the transactions
between and among Holdings, the Borrower and the Restricted Subsidiaries or any
Person that becomes a Restricted Subsidiary as a result of such transaction) on
terms that are substantially as favorable to Holdings, the Borrower or such
Restricted Subsidiary as it would obtain in a comparable arm’s-length
transaction with a Person that is not an Affiliate; provided, that the
foregoing restrictions shall not apply to (a) the payment of fees and
expenses related to the UVEST Acquisition and the transactions contemplated
thereby, (b) the issuance of Capital Stock to the management of Holdings,
the Borrower or any of its Subsidiaries in connection with UVEST Acquisition
the Transactions (as defined in the Original Credit Agreement), (c) the
payment of customary management, consulting and monitoring fees to the Sponsors
in an aggregate amount in any fiscal year not to exceed

 79
 

$5,000,000 plus all reasonable out-of-pocket expenses
and customary indemnities related to any such activities, (d) employment
and severance arrangements between Holdings, the Borrower and the Restricted
Subsidiaries and their respective directors, officers and employees in the
ordinary course of business, (e) payments by Holdings (and any direct or
indirect parent thereof), the Borrower and the Restricted Subsidiaries pursuant
to any tax sharing agreements among Holdings (and any such parent thereof), the
Borrower and the Restricted Subsidiaries on customary terms, (f) the
payment of customary fees and reasonable out of pocket costs and expenses to,
and indemnities provided on behalf of, directors, officers and employees of
Holdings, the Borrower and the Restricted Subsidiaries, (g) transactions
(i) with customers who are Affiliates in the ordinary course of business
and consistent with past practice as of the date hereof and (ii) pursuant
to permitted agreements in existence on the Closing Date and set forth on
Schedule 9.9 or any amendment thereto to the extent such an amendment is not
adverse to the Lenders in any material respect, (h) transactions permitted
under Section 10.6, (i) in connection with the termination of management
agreements with the Sponsors, the payment of up to $20,000,000  in termination fees thereunder to the Sponsors pursuant to
the terms of such management agreement, (j) customary contractual arrangements
with financial advisors to the extent any such financial advisor would be
deemed to be an “Affiliate,”; (k) customary payments made by Holdings, the
Borrower or any Restricted Subsidiary to the Sponsors for any financial
advisory, financing, underwriting or placement services or in respect of other
investment banking activities (including in connection with acquisitions or
divestitures), which payments are approved by a majority of the disinterested
members of the board of directors of Holdings or the Borrower, in good faith
and (l) to the extent expressly permitted under Section 10, payments or loans
(or cancellation of loans) to employees of the Borrower, Holdings or any
Restricted  Subsidiary.

9.10                           End
of Fiscal Years; Fiscal Quarters. 
The Borrower will, for financial reporting purposes, cause (a) each
of its, and each of its Subsidiaries’, fiscal years to end on December 31 of
each year and (b) each of its, and each of its Subsidiaries’, fiscal
quarters to end on dates consistent with such fiscal year-end and the Borrower’s
past practice; provided, however, that the Borrower may, upon
written notice to the Administrative Agent, change the financial reporting
convention specified above to any other financial reporting convention
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 in order to reflect
such change in financial reporting.

9.11                           Additional
Guarantors and Grantors.  Subject to
any applicable limitations set forth in the Guarantee or the Security
Agreement, as applicable, the Borrower will cause (i) any direct or
indirect Domestic Subsidiary (other than any Unrestricted Subsidiary, any
direct or indirect Domestic Subsidiary of a Foreign Subsidiary or any Excluded
Subsidiary) formed or otherwise purchased or acquired after the Effective Date
(including pursuant to a Permitted Acquisition), and (ii) any Subsidiary
of the Borrower (other than any Unrestricted Subsidiary, any direct or indirect
Domestic Subsidiary of a Foreign Subsidiary or any Excluded Subsidiary) that is
not a Domestic Subsidiary on the Closing Date hereof but subsequently becomes a
Domestic Subsidiary (other than any Unrestricted Subsidiary, any direct or
indirect Domestic Subsidiary of a Foreign Subsidiary or any Excluded
Subsidiary), in each case to execute a supplement to each of the Guarantee and
the Security Agreement, substantially in the

 80
 

form of Annex B or Annex 1, as applicable, to the
respective agreement in order to become a Guarantor under the Guarantee and a
grantor under the Security Agreement.

9.12                           Pledges
of Additional Stock and Evidence of Indebtedness.  Subject to any applicable limitations set
forth in the Pledge Agreement, Holdings and the Borrower will pledge, and, if
applicable, will cause each Domestic Subsidiary (other than any Unrestricted
Subsidiary, any direct or indirect Domestic Subsidiary of a Foreign Subsidiary
or any Excluded Subsidiary) to pledge, to the Collateral Agent for the benefit
of the Secured Parties, (i) all the Capital Stock of each Domestic
Subsidiary (other than any Unrestricted Subsidiary, any direct or indirect
Domestic Subsidiary of a Foreign Subsidiary, PTC Holdings, Inc. or The Private
Trust Company, N.A.) and 65% of the issued and outstanding Capital Stock of
each Foreign Subsidiary directly held by any Credit Party, in each case, formed
or otherwise purchased or acquired after the Effective Date, in each case
pursuant to a supplement to the Pledge Agreement substantially in the form of
Annex A thereto, (ii) all evidences of Indebtedness in excess of
$5,000,000 received by any Credit Party in connection with any disposition of
assets pursuant to Section 10.4(d), in each case pursuant to a supplement
to the Pledge Agreement substantially in the form of Annex A thereto, and
(iii) any global promissory notes executed after the Closing Date
evidencing Indebtedness of Holdings and the Borrower and each of its
Subsidiaries that is owing to any Credit Party, in each case pursuant to a
supplement to the Pledge Agreement in the form of Annex A thereto.

9.13                           Changes
in Business.  The Borrower and its
Subsidiaries, taken as a whole, will not fundamentally and substantively alter
the character of their business, taken as a whole, from the business conducted
by the Borrower and its Subsidiaries, taken as a whole, on the Closing Date and
other business activities incidental or related to any of the foregoing.

9.14                           Further
Assurances.  (a)  Holdings and
the Borrower will, and will cause each other Credit Party to, execute any and
all further documents, financing statements, agreements and instruments, and
take all such further actions (including the filing and recording of financing
statements, fixture filings, mortgages, deeds of trust and other documents),
which may be required under any applicable law, or which the Administrative
Agent, the Collateral Agent or the Required Lenders may reasonably request, in
order to grant, preserve, protect and perfect the validity and priority of the
security interests created or intended to be created by the Security Agreement,
the Pledge Agreement or any Mortgage, all at the expense of Holdings and its
Subsidiaries.

(b)                                 Subject
to any applicable limitations set forth in the Security Agreement or any
Mortgage, if any assets (including any real estate or improvements thereto or
any interest therein) with a book value or fair market value in excess of
$3,000,000 are acquired by the Borrower or any other Credit Party after the
Closing Date (other than assets constituting Collateral under the Security
Agreement that become subject to the Lien of the Security Agreement upon
acquisition thereof or assets subject to a Lien granted pursuant to
Section 10.2(c)) that are of the nature secured by the Security Agreement
or any Mortgage, as the case may be, the Borrower will notify the
Administrative Agent (who shall thereafter notify the Lenders) and the
Collateral Agent thereof, and, if requested by the Administrative Agent, the
Collateral Agent or the Required Lenders, the Borrower will cause such assets
to be subjected to a Lien securing the applicable Obligations and will take,
and cause the other Credit Parties to

 81
 

take, such actions as shall be necessary or
reasonably requested by the Administrative Agent or the Collateral Agent to
grant and perfect such Liens consistent with the applicable requirements of the
Security Documents, including actions described in paragraph (a) of this Section,
all at the expense of the Credit Parties. 
Any Mortgage delivered to the Collateral Agent in accordance with the
preceding sentence shall be accompanied by (x) a policy or policies of title
insurance issued by a nationally recognized title insurance company insuring
the Lien of each Mortgage as a valid Lien (with the priority described therein)
on the Mortgaged Property described therein, free of any other Liens except as
expressly permitted by Section 10.2, together with such endorsements and
reinsurance as the Administrative Agent or the Collateral Agent may reasonably
request and (y) an opinion of local counsel to the Borrower (or in the event a
Subsidiary of the Borrower is the Mortgagor, to such Subsidiary) substantially
in the form of the local counsel opinion delivered on the Closing Date pursuant
to Section 6.3(c) of the Original Credit Agreement.

SECTION 10.                          Negative
Covenants

Each of Holdings and the Borrower hereby covenants and
agrees that on the Closing Date and thereafter, until the Commitments and all
Letters of Credit have terminated (unless such Letters of Credit have been
collateralized on terms and conditions satisfactory to the Letter of Credit
Issuer following the termination of the Commitments) and the Loans and Unpaid
Drawings, together with interest, Fees and all other Obligations (excluding
contingent indemnification obligations or Obligations with respect to Hedging
Agreements) incurred hereunder, are paid in full:

10.1                           Limitation
on Indebtedness.  Holdings and the
Borrower will not, and will not permit any of the Restricted Subsidiaries to,
create, incur, assume or suffer to exist any Indebtedness, except:

(a)                                  Indebtedness
arising under the Credit Documents;

(b)                                 Indebtedness
of (i) Holdings, the Borrower or any Subsidiary who is a Guarantor owing
to Holdings, the Borrower or any Subsidiary, (ii) any Subsidiary who is
not a Guarantor owing to any other Subsidiary who is not a Guarantor and
(iii) subject to Section 10.5, any Subsidiary who is not a Guarantor owing
to Holdings, the Borrower or any Subsidiary who is a Guarantor;

(c)                                  Indebtedness
in respect of any bankers’ acceptance, bank guarantees, letter of credit,
warehouse receipt or similar facilities entered into in the ordinary course of
business and not in respect of Hedging Agreements;

(d)                                 Guarantee
Obligations incurred by (i) any Restricted Subsidiary in respect of
Indebtedness of Holdings, the Borrower or any other Restricted Subsidiary that
is permitted to be incurred under this Agreement and (ii) Holdings or the
Borrower in respect of Indebtedness of Holdings, the Borrower or any Restricted
Subsidiary that is permitted to be incurred under this Agreement;

(e)                                  Guarantee
Obligations incurred in the ordinary course of business in respect of
obligations to suppliers, customers, franchisees, lessors and licensees;

 82

(f)                                    (i) Indebtedness
(including Indebtedness arising under Capital Leases) the proceeds of which are
used to finance the acquisition, construction or improvement of fixed or
capital assets, or otherwise incurred in respect of Capital Expenditures, (ii) Indebtedness
arising under Capital Leases entered into in connection with Permitted Sale
Leasebacks, (iii) Indebtedness arising under Capital Leases, other than
Capital Leases in effect on the Closing Date (and set forth on Schedule 10.1)
and Capital Leases entered into pursuant to subclauses (i) and (ii) above;
provided, that the aggregate amount of Indebtedness incurred pursuant to
this subclause (iii) shall not exceed $10,000,000 at any time outstanding
(excluding the aggregate amount of any operating leases which are subsequently
reclassified or recharacterized as Capital Leases under GAAP), and
(iv) any modification, replacement, refinancing, refunding, renewal or
extension of any Indebtedness specified in subclause (i), (ii) or (iii)
above, provided that, except to the extent otherwise expressly
permitted hereunder, the principal amount of any Indebtedness, modified,
replaced, refinanced, refunded, renewed or extended pursuant to this clause
(iv) does not exceed the principal amount thereof outstanding immediately prior
to such modification, replacement, refinancing, refunding, renewal or
extension, except by an amount equal to the unpaid accrued interest and premium
thereon plus other reasonable amounts paid and fees and expenses
incurred in connection with such modification, replacement, refinancing,
refunding, renewal or extension;

(g)                                 Closing
Date Indebtedness (other than the Senior Unsecured Subordinated Notes) and any
modification, replacement, refinancing, refunding, renewal or extension
thereof, provided that, except to the extent otherwise expressly
permitted hereunder, (i) the principal amount of any Indebtedness, modified,
replaced, refinanced, refunded, renewed or extended pursuant to this clause (g)
does not exceed the principal amount thereof outstanding immediately prior to
such modification, replacement, refinancing, refunding, renewal or extension
except by an amount equal to the unpaid accrued interest and premium thereon
plus other reasonable amounts paid and fees and expenses incurred in connection
with such modification, replacement, refinancing, refunding, renewal or
extension and (ii) the direct and contingent obligors with respect to such
Indebtedness are not changed;

(h)                                 Indebtedness
in respect of Hedging Agreements;

(i)                                     (i) Indebtedness
in respect of Senior Unsecured Subordinated Notes and any refinancing,
refunding, renewal or extension thereof; provided, that, except to the
extent otherwise expressly permitted hereunder, (x) the principal amount
thereof does not exceed the sum of (A) the principal amount thereof outstanding
immediately prior to such refinancing, refunding, renewal or extension plus
(B) the amount of any interest, premiums or penalties required to be paid
thereon plus (C) reasonable fees and expenses, associated thereof,
(y) the direct and contingent obligors with respect to such Indebtedness
are not changed and (z) such Indebtedness has terms material to the interests
of the Lenders not materially less advantageous to the Lenders, taken as a
whole, than those of the Senior Unsecured Subordinated Notes being refinanced
(such refinancing, refunding, renewed or extended Indebtedness, “Refinanced
Senior Unsecured Subordinated Notes”), and (ii) Indebtedness in
respect of Permitted Additional Notes to the extent the Net Cash Proceeds
therefrom are, immediately after the receipt thereof, applied to the prepayment
of Term Loans in accordance with Section 5.2(a)(i);

 83
 

(j)                                     (i) Indebtedness
of a Person or Indebtedness attaching to assets of a Person that, in either
case, becomes a Restricted Subsidiary or Indebtedness attaching to assets that
are acquired by the Borrower or any Restricted Subsidiary, in each case after
the Closing Date as the result of a Permitted Acquisition; provided,
that (x) such Indebtedness existed at the time such Person became a Restricted
Subsidiary or at the time such assets were acquired and, in each case, was not
created in anticipation thereof, (y) such Indebtedness is not guaranteed in any
respect by Holdings, the Borrower or any Restricted Subsidiary (other than any
such person that so becomes a Restricted Subsidiary) and (z)(A) the
Capital Stock of such Person is pledged to the Collateral Agent to the extent
required under Section 9.12 and (B) such Person executes a supplement
to each of the Guarantee, the Security Agreement and the Pledge Agreement (or
alternative guarantee and security arrangements in relation to the Obligations)
to the extent required under Section 9.11 or 9.12, as applicable (provided
that the assets covered by such pledges and securing interests may, to the
extent permitted under Section 10.2, equally and ratably secure such
Indebtedness assumed), and (ii) any modification, replacement, refinancing,
refunding, renewal or extension of any Indebtedness specified in subclause (i)
above; provided that, except to the extent otherwise expressly
permitted hereunder, the principal amount of any Indebtedness modified,
replaced, refinanced, refunded, renewed or extended pursuant to this clause
(ii) does not exceed the principal amount thereof outstanding immediately prior
to such modification, replacement, refinancing, refunding, renewal or extension
except by an amount equal to the unpaid accrued interest and premium thereon plus
other reasonable amounts paid and fees and expenses incurred in connection with
such modification, replacement, refinancing, refunding, renewal or extension;

(k)                                  (i) Indebtedness
of Holdings, the Borrower or any Restricted Subsidiary incurred to finance a
Permitted Acquisition; provided, that (x) if such Indebtedness is incurred
by a Restricted Subsidiary that is not a Guarantor, such Indebtedness is not
guaranteed in any respect by Holdings, the Borrower or any other Guarantor
except as permitted under Section 10.5 and (y)(A) the Borrower or such
other relevant Credit Party pledges the Capital Stock of any Person acquired in
such Permitted Acquisition (the “acquired Person”) to the Collateral
Agent to the extent required under Section 9.12 and (B) such acquired
Person executes a supplement to the Guarantee, the Security Agreement and the
Pledge Agreement (or alternative guarantee and security arrangements in
relation to the Obligations) to the extent required under Sections 9.11 or
9.12, as applicable, (provided that the assets covered by such pledges and
securing interests may, to the extent permitted by Section 10.2, equally and
ratably secure such Indebtedness incurred) and (ii) any modification,
replacement, refinancing, refunding, renewal or extension of any Indebtedness
specified in subclause (i) above; provided
that, except to the extent otherwise expressly permitted hereunder, the
principal amount of any Indebtedness modified, replaced, refinanced, refunded,
renewed or extended pursuant to this clause (ii) does not exceed the principal
amount thereof outstanding immediately prior to such modification, replacement,
refinancing, refunding, renewal or extension except by an amount equal to the
unpaid accrued interest and premium thereon plus other reasonable
amounts paid and fees and expenses incurred in connection with such
modification, replacement, refinancing, refunding, renewal or extension;

(l)                                     (i)  Indebtedness incurred in connection with any
Permitted Sale Leaseback and (ii) any refinancing, refunding, renewal or
extension of any Indebtedness specified in subclause (i) above; provided,
that, except to the extent otherwise expressly permitted hereunder, the
principal amount of any such Indebtedness does not exceed the sum of

 84
 

(x) the principal amount thereof outstanding
immediately prior to such refinancing, refunding, renewal or extension plus
(y) the amount of any interest, premiums or penalties required, to be paid
thereon plus (z) reasonable fees associated therewith;

(m)                               unsecured
Indebtedness in respect of obligations of the Borrower or any Restricted
Subsidiary to pay the deferred purchase price of goods or services or progress
payments in connection with such goods and services; provided, that such
obligations are incurred in connection with open accounts extended by suppliers
on customary trade terms (which require that all such payments be made within
60 days after the incurrence of the related obligation) in the ordinary course
of business and not in connection with the borrowing of money or any Hedging
Agreements;

(n)                                 Indebtedness
arising from agreements of Holdings, the Borrower or any Restricted Subsidiary
providing for indemnification, adjustment of purchase price or similar
obligations, in each case incurred or assumed in connection with Permitted
Acquisitions and the disposition of any business, assets or Capital Stock
permitted hereunder, other than Guarantee Obligations incurred by any Person
acquiring all or any portion of such business, assets or Capital Stock for the
purpose of financing such acquisition; provided, that (i) such
Indebtedness is not reflected on the balance sheet of the Borrower or any
Restricted Subsidiary (contingent obligations referred to in a footnote to
financial statements and not otherwise reflected on the balance sheet will not
be deemed to be reflected on such balance sheet for purposes of this clause
(i)) and (ii) the maximum assumable liability in respect of all such
Indebtedness shall at no time exceed the gross proceeds, including non-cash
proceeds (the fair market value of such non-cash proceeds being measured at the
time received and without giving effect to any subsequent changes in value),
actually received by the Borrower and the Restricted Subsidiaries in connection
with such disposition;

(o)                                 Indebtedness
in respect of performance bonds, bid bonds, appeal bonds, surety bonds,
performance and completion guarantees and similar obligations incurred in the
ordinary course of business and not in connection with the borrowing of money
or Hedging Agreements;

(p)                                 Indebtedness
of Holdings, the Borrower or any Restricted Subsidiary consisting of
obligations to pay insurance premiums arising in the ordinary course of
business and not in connection with the borrowing of money or Hedging
Agreements;

(q)                                 Indebtedness
in respect of Margin Lines of Credit and Warehouse Lines of Credit;

(r)                                    Indebtedness
representing deferred compensation to employees of Holdings, the Borrower and
the Restricted Subsidiaries incurred in the ordinary course of business;

(s)                                  subordinated
Indebtedness consisting of promissory notes issued by any Credit Party to
current or former officers, directors, managers, consultants and employees,
their respective successors, executors, administrators, heirs, legatees or
distributees to finance the retirement, acquisition, repurchase or redemption
of Capital Stock permitted by Section 10.6;

 85
 

(t)                                    cash
management obligations and other Indebtedness in respect of netting services,
overdraft protections, automatic clearinghouse arrangements, employee credit
cards and similar arrangements in each case in the ordinary course of business
and consistent with past business practices;

(u)                                 all
customary premiums (if any), interest (including post-petition interest), fees,
expenses, charges and additional or contingent interest on obligations
described in each of the clauses of this Section 10.1;

(v)                                 New
Term Loans, Revolving Credit Increases and Permitted Additional Notes and any
refinancing, refunding, renewal or extension thereof; provided, that the
aggregate principal amount of Indebtedness outstanding at any time pursuant to
this clause (v) shall not at any time exceed $125,000,000; and

(w)                               additional
Indebtedness and any refinancing, refunding, renewal or extension thereof; provided,
that the aggregate principal amount of Indebtedness outstanding at any time
pursuant to this clause (w) shall not at any time exceed $25,000,000; provided
that the Borrower and the Restricted Subsidiary may incur additional
Indebtedness under this clause (w) in an aggregate principal amount not to
exceed the product of (1) (x) 7.5% multiplied by (y) the Consolidated EBITDA
Growth Factor multiplied by (2) $1,300,000,000.

10.2                           Limitation
on Liens.  Holdings and the Borrower
will not, and will not permit any of the Restricted Subsidiaries to, create,
incur, assume or suffer to exist any Lien upon any property or assets of any
kind (real or personal, tangible or intangible) of Holdings, the Borrower or
any Restricted Subsidiary, whether now owned or hereafter acquired, except:

(a)                                  Liens
securing the Obligations;

(b)                                 Permitted
Liens;

(c)                                  Liens
securing Indebtedness permitted pursuant to Section 10.1(f); provided,
that such Liens attach at all times only to the assets financed with such
Indebtedness;

(d)                                 Liens
existing on the Closing Date and listed on Schedule 10.2;

(e)                                  the
replacement, extension, modification or renewal of any Lien permitted by
clauses (a) through (d) above and clauses (f) and (g) of this
Section 10.2 upon or in the same assets theretofore subject to such Lien
(other than after-acquired property that is affixed or incorporated into the
property covered by such lien or financed by Indebtedness permitted under
Section 10.1 and proceeds and products thereof) or the replacement,
extension, modification or renewal (without increase in the amount except to
the extent otherwise expressly permitted hereunder) of the Indebtedness secured
thereby;

(f)                                    Liens
existing on the assets of any Person that becomes a Restricted Subsidiary, or
existing on assets acquired, pursuant to a Permitted Acquisition to the extent
the Liens on such assets secure Indebtedness permitted by Section 10.1(j);
provided, that such Liens attach at all times only to the same assets
that such Liens (other than after-acquired property that is affixed or
incorporated into the property covered by such lien or financed by Indebtedness

 86
 

permitted under Section 10.1 and
proceeds and products thereof) attached to, and secure only the same
Indebtedness that such Liens secured, immediately prior to such Permitted
Acquisition;

(g)                                 (i) Liens
placed upon the Capital Stock of any Restricted Subsidiary acquired pursuant to
a Permitted Acquisition to secure Indebtedness incurred pursuant to
Section 10.1(k) in connection with such Permitted Acquisition and
(ii) Liens placed upon the assets of such Restricted Subsidiary to secure
a guarantee by such Restricted Subsidiary of any such Indebtedness of Holdings,
the Borrower or any other Restricted Subsidiary;

(h)                                 Liens
securing Indebtedness or other obligations of Holdings, the Borrower or a
Subsidiary in favor of Holdings, the Borrower or any Subsidiary that is a
Guarantor and Liens securing Indebtedness or other obligations of any
Subsidiary that is not a Guarantor in favor of any Subsidiary that is not a
Guarantor;

(i)                                     Liens
of a collection bank arising under Section 4-210 of the Uniform
Commercial Code on items in the course of collection and (ii) in favor of a
banking institution arising as a matter of law encumbering deposits (including
the right to set off) and which are within the general parameters customary in
the banking industry;

(j)                                     Liens
(i) on cash advances in favor of the seller of any property to be acquired in
an Investment permitted pursuant to Sections 10.5 to be applied against
the purchase price for such Investment, and (ii) consisting of an agreement to
sell, transfer, lease or otherwise dispose of any property in a transaction
permitted under Section 10.4, in each case, solely to the extent such
Investment or sale, disposition, transfer or lease, as the case may be, would
have been permitted on the date of the creation of such Lien;

(k)                                  Liens
arising out of conditional sale, title retention, consignment or similar
arrangements for sale of goods entered into by the Borrower or any of the
Restricted Subsidiaries in the ordinary course of business permitted by this
Agreement;

(l)                                     Liens
deemed to exist in connection with Investments in repurchase agreements
permitted under Section 10.5;

(m)                               Liens
encumbering reasonable customary initial deposits and margin deposits and
similar Liens attaching to commodity trading accounts or other brokerage accounts
incurred in the ordinary course of business and not for speculative purposes;

(n)                                 Liens
that are contractual rights of set-off (i) relating to the establishment
of depository relations with banks not given in connection with the issuance of
Indebtedness, (ii) relating to pooled deposit, automatic clearinghouse or
sweep accounts of Holdings, the Borrower or any Restricted Subsidiary to permit
satisfaction of overdraft or similar obligations incurred in the ordinary
course of business of Holdings, the Borrower and the Restricted Subsidiaries or
(iii) relating to purchase orders and other agreements entered into with
customers of Holdings, the Borrower or any Restricted Subsidiary in the
ordinary course of business;

(o)                                 Liens
solely on any cash earnest money deposits made by Holdings, the Borrower or any
of the Restricted Subsidiaries in connection with any letter of intent or
purchase agreement permitted hereunder;

 87
 

(p)                                 Liens
on insurance policies and the proceeds thereof securing the financing of the
premiums with respect thereto;

(q)                                 Liens
securing Indebtedness under any Margin Line of Credit or Warehouse Line of
Credit; and

(r)                                    other
Liens not otherwise permitted by this Section 10.2 so long as the aggregate
amount of obligations secured thereby does not exceed $10,000,000.

10.3                           Limitation
on Fundamental Changes.  Except as
expressly permitted by Section 10.4 or 10.5, Holdings and the Borrower
will not, and will not permit any of the Restricted Subsidiaries to, enter into
any merger, consolidation or amalgamation, or liquidate, wind up or dissolve
itself (or suffer any liquidation or dissolution), or convey, sell, lease,
assign, transfer or otherwise dispose of all or substantially all its business
units, assets or other properties, except that:

(a)                                  any
Subsidiary of the Borrower or any other Person may be merged, amalgamated or
consolidated with or into the Borrower; provided, that (i) the
Borrower shall be the continuing or surviving corporation or the Person formed
by or surviving any such merger, amalgamation or consolidation (if other than
the Borrower) shall be an entity organized or existing under the laws of the
United States, any state thereof, the District of Columbia or any territory
thereof (the Borrower or such Person, as the case may be, being herein referred
to as the “Successor Borrower”), (ii) the Successor Borrower (if
other than the Borrower) shall expressly assume all the obligations of the
Borrower under this Agreement and the other Credit Documents pursuant to a
supplement hereto or thereto in form reasonably satisfactory to the
Administrative Agent, (iii) no Default or Event of Default would result
from the consummation of such merger, amalgamation or consolidation,
(iv) the Successor Borrower shall be in compliance, on a pro forma basis
after giving effect to such merger, amalgamation or consolidation, with the
covenants set forth in Sections 10.9 and 10.10, as such covenants are
recomputed as at the last day of the most recently ended Test Period under such
Section as if such merger, amalgamation or consolidation had occurred on the
first day of such Test Period, (v) each Guarantor, unless it is the other
party to such merger or consolidation or unless the Successor Borrower is the
Borrower, shall have by a supplement to the Guarantee confirmed that its
Guarantee shall apply to the Successor Borrower’s obligations under this
Agreement, (vi) each Subsidiary grantor and each Subsidiary pledgor,
unless it is the other party to such merger, amalgamation or consolidation or
unless the Successor Borrower is the Borrower, shall have by a supplement to
the Security Agreement and the Pledge Agreement confirmed that its obligations
thereunder shall apply to the Successor Borrower’s obligations under this
Agreement, (vii) each mortgagor of a Mortgaged Property, unless it is the
other party to such merger or consolidation or unless the Successor Borrower is
the Borrower, shall have by an amendment to or restatement of the applicable
Mortgage confirmed that its obligations thereunder shall apply to the Successor
Borrower’s obligations under this Agreement, (viii) the Borrower shall
have delivered to the Administrative Agent an officer’s certificate stating
that such merger, amalgamation or consolidation and any supplements to this
Agreement or any Security Document preserve the enforceability of the Guarantee
and the perfection and priority of the Liens under the Security Documents and
(ix) if reasonably requested by the Administrative Agent, an opinion of counsel
to the effect that such merger, amalgamation or consolidation does not violate
this Agreement or

 88
 

any other Credit Document; provided
further that if the foregoing are satisfied, the Successor Borrower (if other
than the Borrower) will succeed to, and be substituted for, the Borrower under
this Agreement;

(b)                                 any
Subsidiary of the Borrower or any other Person may be merged, amalgamated or
consolidated with or into any one or more Subsidiaries of the Borrower; provided,
that (i) in the case of any merger, amalgamation or consolidation
involving one or more Restricted Subsidiaries, (A) a Restricted Subsidiary
shall be the continuing or surviving corporation or (B) the Borrower shall
take all steps necessary to cause the Person formed by or surviving any such
merger, amalgamation or consolidation (if other than a Restricted Subsidiary)
to become a Restricted Subsidiary, (ii) in the case of any merger,
amalgamation or consolidation involving one or more Guarantors, a Guarantor
shall be the continuing or surviving corporation or the Person formed by or surviving
any such merger, amalgamation or consolidation (if other than a Guarantor)
shall execute a supplement to the Guarantee, the Security Agreement, the Pledge
Agreement and any applicable Mortgage in form and substance reasonably
satisfactory to the Administrative Agent in order for such surviving
corporation to become a Guarantor and pledgor, mortgagor and grantor of
Collateral for the benefit of the Secured Parties, (iii) no Default or
Event of Default would result from the consummation of such merger,
amalgamation or consolidation, (iv) the Borrower shall be in compliance,
on a pro forma basis after giving effect to such merger, amalgamation or
consolidation, with the covenants set forth in Sections 10.9 and 10.10, as such
covenants are recomputed as at the last day of the most recently ended Test
Period under such Section as if such merger, consolidation or amalgamation had
occurred on the first day of such Test Period, and (v) the Borrower shall
have delivered to the Administrative Agent an officer’s certificate stating
that such merger, amalgamation or consolidation and such supplements to any
Security Document preserve the enforceability of the Guarantee and the
perfection and priority of the Liens under the Security Agreement;

(c)                                  any
Restricted Subsidiary that is not a Guarantor may sell, lease, transfer or
otherwise dispose of any or all of its assets (upon voluntary liquidation or
otherwise) to the Borrower, a Guarantor or any other Restricted Subsidiary of
the Borrower;

(d)                                 any
Guarantor may sell, lease, transfer or otherwise dispose of any or all of its
assets (upon voluntary liquidation or otherwise) to the Borrower or any other
Guarantor; and

(e)                                  any
Restricted Subsidiary may liquidate or dissolve if (x) the Borrower determines
in good faith that such liquidation or dissolution is in the best interests of
the Borrower and is not materially disadvantageous to the Lenders and (y) to
the extent such Restricted Subsidiary is a Credit Party, any assets or business
not otherwise disposed of or transferred in accordance with Section 10.4
or 10.5, or, in the case of any such business, discontinued, shall be
transferred to, or otherwise owned or conducted by, another Credit Party after
giving effect to such liquidation or dissolution.

10.4                           Limitation
on Sale of Assets.  Holdings and the
Borrower will not, and will not permit any of the Restricted Subsidiaries to,
(i) convey, sell, lease, assign, transfer or otherwise dispose of any of
its property, business or assets (including receivables and leasehold
interests), whether now owned or hereafter acquired (other than any such sale,
transfer,

 89
 

assignment or other disposition resulting from a
Recovery Event), or (ii) sell to any Person (other than the Borrower or a
Guarantor) any shares owned by it of any Restricted Subsidiary’s Capital Stock,
except that:

(a)                                  Holdings,
the Borrower and the Restricted Subsidiaries may sell, transfer or otherwise
dispose of the following in the ordinary course of business:  (i) obsolete, worn-out, used or surplus
assets to the extent such assets are not necessary for the operation of the
Borrower’s and its Subsidiaries’ business; (ii) inventory, securities and goods
held for sale; and (iii) cash and Permitted Investments;

(b)                                 Holdings,
the Borrower and the Restricted Subsidiaries may lease, license (on a non-exclusive
basis with respect to intellectual property), or sublease or sublicense (on a
non-exclusive basis with respect to intellectual property) real or
personal property in the ordinary course of business;

(c)                                  Holdings,
the Borrower and the Restricted Subsidiaries may sell, transfer or otherwise
dispose of other assets (other than accounts receivable) for fair value; provided,
that (i) the aggregate amount of such sales, transfers and disposals by
Holdings, the Borrower and the Restricted Subsidiaries, taken as a whole,
pursuant to this clause (c) shall not exceed in the aggregate an amount equal
to 10% of Consolidated Total Net Tangible Assets, (ii) any consideration in
excess of $5,000,000 received by Holdings, the Borrower or any Guarantor in
connection with such sales, transfers and other dispositions of assets pursuant
to this clause (c) that is in the form of Indebtedness shall be pledged to the
Administrative Agent pursuant to Section 9.12, (iii) with respect to any such
sale, transfer or disposition (or series of related sales, transfers or
dispositions) in an aggregate amount in excess of $20,000,000, the Borrower
shall be in compliance, on a pro forma basis after giving effect to such sale,
transfer or disposition, with the covenants set forth in Sections 10.9 and
10.10, as such covenants are recomputed as at the last day of the most recently
ended Test Period under such Sections as if such sale, transfer or disposition
had occurred on the first day of such Test Period and (iv) after giving effect
to any such sale, transfer or disposition, no Default or Event of Default shall
have occurred and be continuing;

(d)                                 Holdings,
the Borrower and the Restricted Subsidiaries may (i) sell or discount
without recourse accounts receivable arising in the ordinary course of business
in connection with the compromise or collection thereof and (ii) sell or
transfer accounts receivable and related rights pursuant to customary
receivables financing facilities so long as, in each case, the Net Cash
Proceeds thereof to Holdings, the Borrower and the Restricted Subsidiaries are
promptly applied to the prepayment of Term Loans pursuant to Section 5.2;

(e)                                  Holdings,
the Borrower and the Restricted Subsidiaries may sell, transfer or otherwise
dispose of property or assets to Holdings, the Borrower or to a Restricted
Subsidiary; provided, that if the transferor of such property is a
Guarantor or the Borrower (i) the transferee thereof must either be the
Borrower or a Guarantor or (ii) to the extent such transaction constitutes an
Investment, such transaction is permitted under Section 10.5;

 90
 

(f)                                    the
Borrower and the Restricted Subsidiaries may effect any transaction permitted
by Section 10.3 and Holdings, the Borrower and the Restricted Subsidiaries
may effect any transaction permitted by Section 10.6, 10.8 or Liens
permitted by Section 10.2;

(g)                                 the
Borrower and the Restricted Subsidiaries may sell, transfer or otherwise
dispose of the property listed on Schedule 1.1(a); and

(h)                                 Holdings,
the Borrower and the Restricted Subsidiaries may exchange or “swap” assets for
other assets of another Person other than Holdings, the Borrower or any
Restricted Subsidiary; provided, that (i) the assets received by
Holdings, the Borrower or such Restricted Subsidiary will be used or useful in
the business of Holdings, the Borrower and their Subsidiaries, (ii) Holdings,
the Borrower or such Restricted Subsidiary shall receive reasonably equivalent
value for such assets, (iii) such assets shall be received by Holdings, the
Borrower or such Restricted Subsidiary substantially concurrently with the
delivery of the existing assets of Holdings, the Borrower or such Restricted
Subsidiary to such other Person, (iv) Holdings, the Borrower and such
Restricted Subsidiaries shall account for such exchange or swap in accordance
with GAAP and (v) any cash or Permitted Investments received in any such swap
shall be treated as asset sale proceeds subject to the limitations of Section
10.4(c) and not this Section 10.4(h).

10.5                           Limitation
on Investments.  Holdings and the
Borrower will not, and will not permit any of the Restricted Subsidiaries to,
make any advance, loan, extensions of credit or capital contribution to, or
purchase any stock, bonds, notes, debentures or other securities of or any
assets of, or make any other investment in, any Person (all of the foregoing, “Investments”),
except:

(a)                                  extensions
of trade credit, asset purchases (including purchases of inventory, supplies
and materials) and the licensing or contribution of intellectual property
pursuant to joint marketing arrangements with other Persons, in each case in
the ordinary course of business;

(b)                                 Permitted
Investments;

(c)                                  loans
and advances to officers, directors and employees of Holdings, the Borrower or
any of its Subsidiaries (i) to finance the purchase of Capital Stock of
Holdings (or any direct or indirect parent thereof; provided, that the
amount of such loans and advances used to acquire such Capital Stock shall be
contributed to Holdings or the Borrower, as applicable, in cash as common
equity) or the Borrower, (ii) for reasonable and customary business
related travel expenses, moving expenses and similar expenses, in each case
incurred in the ordinary course of business, and (iii) for additional
purposes not contemplated by subclause (i) or (ii) above in an
aggregate principal amount at any time outstanding with respect to this clause
(iii) not exceeding $5,000,000;

(d)                                 Investments
existing on the Closing Date and listed on Schedule 10.5 and any extensions,
renewals or reinvestments thereof, so long as the aggregate amount of all
Investments pursuant to this clause (d) is not increased at any time above
the amount of such Investments existing on the Closing Date;

 91
 

(e)                                  Investments
in Hedging Agreements permitted by Section 10.1(h);

(f)                                    Investments
received in connection with the bankruptcy or reorganization of supplier or
customers and in settlement of delinquent obligations of, and other disputes
with, customers arising in the ordinary course of business or upon the
foreclosure with respect to any secured Investment or other transfer of title
with respect to any secured Investment;

(g)                                 Investments
to the extent that payment for such investments is made solely with Capital
Stock of Holdings (or any direct or indirect parent thereof) or the Borrower;

(h)                                 Investments
constituting non-cash proceeds of sales, transfers and other dispositions of
assets to the extent permitted by Section 10.4;

(i)                                     Investments
in the Borrower or any Guarantor and Investments by any Subsidiary that is not
a Guarantor in any other Subsidiary;

(j)                                     Investments
constituting Permitted Acquisitions, provided, that the aggregate amount
of any such Investment, as valued at the fair market value of such Investment
at the time each such Investment is made, made by the Borrower or any
Restricted Subsidiary in any Subsidiary that shall not be, or after giving
effect to such Investment, shall not become a Guarantor shall not exceed (i)
$250,000,000 plus (ii) the Available Amount plus (iii) an amount equal to any
repayments, interest, returns, profits, distributions, income and similar
amounts actually received in cash in respect of any such Investment (which
amount shall not exceed the amount of such Investment valued at the fair market
value of such Investment at the time such Investment was made);

(k)                                  Investments
in the equity interests of one or more newly formed Persons that are received
in consideration of the contribution by Holdings, the Borrower or the
applicable Restricted Subsidiaries of assets (including Capital Stock) to such
person or persons; provided, that (i) the fair market value of such
assets, determined on an arms-length basis, so contributed pursuant to this
paragraph (k) shall not in the aggregate exceed $10,000,000 and
(ii) in respect of each such contribution, an Authorized Officer of the
Borrower shall certify, in a form to be agreed upon by the Borrower and the
Administrative Agent (x) after giving effect to such contribution, no Default
or Event of Default shall have occurred and be continuing, (y) the fair market
value of the assets so contributed and (z) that the requirements of clause
(i) of this proviso remain satisfied;

(l)                                     Investments
made to repurchase or retire Capital Stock of Holdings (or any direct or
indirect parent thereof) or the Borrower owned by any employee stock ownership
plan or key employee stock ownership plan of Holdings (or any direct or
indirect parent thereof) or the Borrower;

(m)                               Investments
in the business of the Borrower and its Restricted Subsidiaries made by the
Borrower or any of its Restricted Subsidiaries with the proceeds of any Asset
Sale Prepayment Event or Recovery Event prior to the end of the Reinvestment
Period or pursuant to an Acceptable Reinvestment Commitment or Restoration
Certification;

 92
 

(n)                                 the
Borrower may make a loan to Holdings that could otherwise be made as a Dividend
permitted under Section 10.6;

(o)                                 Investments
in the ordinary course of business consisting of Article 3 endorsements for
collection or deposit and Article 4 customary trade arrangements with customers
consistent with past practices;

(p)                                 advances
of payroll payments to employees in the ordinary course of business;

(q)                                 Investments
of a Restricted Subsidiary acquired after the Closing Date or of a corporation
merged into the Borrower or merged or consolidated with a Restricted Subsidiary
in accordance with Section 10.3 after the Closing Date to the extent that such
Investments were not made in contemplation of, or in connection with, such
acquisition, merger or consolidation and were in existence on the date of such
acquisition, merger or consolidation;

(r)                                    Guarantees
by Holdings, the Borrower or any Restricted Subsidiary of leases (other than
Capital Leases) or of other obligations that do not constitute Indebtedness, in
each case entered into in the ordinary course of business;

(s)                                  Investments
of any OCC-Regulated Subsidiary in the Capital Stock of the Federal Reserve
Bank in the district in which such Subsidiary is located in accordance with the
provisions of the Federal Reserve Act;

(t)                                    Investments
in “seed investment portfolios” for the purpose of testing and determining
model portfolios in the ordinary course of business and consistent with past
business practice; provided, that such Investments as valued at the fair
market value of such Investments at the time each such Investment is made,
would not exceed (i) $10,000,000 plus (ii) the Available Amount plus (iii) an
amount equal to any repayments, interest, returns, profits, distributions,
income and similar amounts actually received in cash in respect of any such
Investment (which amount shall not exceed the amount of such Investment valued
at the fair market value of such Investment at the time such Investment was
made);

(u)                                 intercompany
Investments by Holdings, the Borrower or any Guarantor in any Person that,
prior to such investment, is an Excluded Subsidiary; provided, that the
amount of such Investment, as valued at the fair market value of such
Investment at the time such Investment is made, shall not exceed (i)
$10,000,000 plus (ii) the Available Amount plus (iii) an amount equal to any
repayments, interest, returns, profits, distributions, income and similar
amounts actually received in cash in respect of any such Investment (which
amount shall not exceed the amount of such Investment valued at the fair market
value of such Investment at the time such Investment was made);

(v)                                 (i) Investments
permitted under Section 10.6 or the proviso to Section 9.9 and
(ii) Guarantee Obligations permitted under Section 10.1;

(w)                               intercompany
Investments in the form of loans, advances or extensions of credit by any
Credit Party to any Excluded Subsidiary in the ordinary course of business for
working capital purposes; provided, that such loans, advances or
extensions of credit shall be

 93
 

evidenced by one global promissory note that
shall be pledged to the Collateral Agent for the benefit of the Secured Parties
and which shall be executed by each Excluded Subsidiary which shall receive
such loan, advance or extension of credit;

(x)                                   to
the extent constituting an Investment, Margin Loans, mortgage and warehouse
loans and other similar advances and extensions of credit made by the Borrower
or any Restricted Subsidiary in the ordinary course of business to their
respective customers;

(y)                                 Investments
made by the Borrower within 10 Business Days after the Closing Date in PTC
Holdings, Inc. and The Private Trust Company, N.A. in an aggregate amount as
valued at the fair market value of such Investment at the time made not to
exceed $7,000,000;

(z)                                   Securities
Owned (as set forth on the balance sheet of the Broker-Dealer Regulated
Subsidiary) for a period no longer than 10 Business Days following a securities
trade from a customer account and constituting securities transactions entered
into by the Broker-Dealer Regulated Subsidiary for the purpose of making
adjustments to such Subsidiary’s customer accounts with respect to such
securities trade, with the fair market value of all such Securities Owned (as
set forth on the balance sheet of the Broker-Dealer Regulated Subsidiary), not
to exceed $10,000,000 in the aggregate at any time outstanding;

(aa)                            (i) any
additional Investments (including Investments in Minority Investments and
Unrestricted Subsidiaries and in joint ventures or similar entities that do not
constitute Restricted Subsidiaries) as valued at the fair market value of such
Investment at the time each such Investment is made and (ii) Investments in
respect of loans and advances to licensed financial advisors to facilitate the
transfer of such advisors’ businesses to the Borrower and its Subsidiaries or
to platforms utilized by the Borrower and its Subsidiaries, for the purchase of
other financial advisors’ businesses and for incidental and working capital
purposes; provided, that the aggregate amount of all such additional
Investments made pursuant to this clause (aa) shall not exceed an aggregate
amount that, at the time each such Investment is made, would not exceed the sum
of (x) $50,000,000 plus (y) the Available Amount plus (z) an amount
equal to any repayments, interest, returns, profits, distributions, income and
similar amounts actually received in cash in respect of all such Investments
(which amount shall not exceed the amount of all Investments valued at the fair
market value of all such Investments at the time each respective Investment was
made); and

(bb)                          Investments
in connection with the UVEST Acquisition.

10.6                           Limitation
on Dividends.  Neither Holdings nor
the Borrower will declare or pay any dividends (other than (a) in respect
of Holdings, dividends payable solely in respect of its Capital Stock and (b)
in respect of the Borrower, dividends payable solely in respect of its Capital
Stock) or return any capital to its stockholders or make any other
distribution, payment or delivery of property or cash to its stockholders as
such, or redeem, retire, purchase or otherwise acquire, directly or indirectly,
for consideration, any shares of any class of its Capital Stock or the Capital
Stock of any direct or indirect parent now or hereafter outstanding (or any
options or warrants or stock appreciation rights issued with respect to any of
its Capital Stock), or set aside any funds for any of the foregoing purposes,
or permit any of the

 94
 

Restricted Subsidiaries to purchase or otherwise
acquire for consideration (other than in connection with an investment
permitted by Section 10.5) any shares of any class of the Capital Stock of
Holdings or the Capital Stock of the Borrower, now or hereafter outstanding (or
any options or warrants or stock appreciation rights issued with respect to any
of its Capital Stock) (all of the foregoing “Dividends”):

(a)                                                                                  Holdings
or the Borrower may (i) redeem in whole or in part any of its Capital
Stock for another class of Capital Stock or rights to acquire its Capital Stock
or with proceeds from substantially concurrent equity contributions or
issuances of new shares of its Capital Stock; provided, that any terms
and provisions material to the interests of the Lenders contained in such other
class of Capital Stock be at least as advantageous to the Lenders, taken as a
whole, as those contained in the Capital Stock redeemed thereby or (ii) so long
as no Default or Event of Default has occurred and is continuing, declare and
pay dividends or make distributions in the amount of proceeds of equity
contributions or issuances of new shares of Capital Stock (other than Equity
Contributions, issuances of Permitted Cure Securities or other equity
contributions to the extent utilized in connection with other transactions
permitted pursuant to Section 10.5 or 10.6);

(b)                                                                                 Holdings
or the Borrower may redeem, acquire, retire or repurchase (and the Borrower and
its Subsidiaries may declare and pay Dividends to Holdings, the proceeds of
which are used to so redeem, acquire, retire or repurchase) Capital Stock
(including related stock appreciation rights or similar securities) (or to
allow any of Holdings’ direct or indirect parent companies to so redeem,
acquire, retire or repurchase its Capital Stock) from present or former
officers, managers, consultants, employees and directors (or their respective
successors, executors, administrators, heirs, legatees or distributees) of
Holdings (or any direct or indirect parent thereof), the Borrower and its
Subsidiaries, with the proceeds of Dividends from, seriatim, Holdings or the
Borrower, upon the death, disability, retirement or termination of employment
of any such Person or otherwise in accordance with any stock option or stock
appreciation rights plan, any management or employee stock ownership plan,
stock subscription plan, employment termination agreement or any employment
agreements or stockholders’ agreement; provided, that except with
respect to non-discretionary repurchases, acquisitions, retirement, or
redemptions pursuant to the terms of any such agreement, the aggregate amount
of all cash paid in respect of all such shares so redeemed, acquired, retired
or repurchased in any calendar year does not exceed the sum of (i) $5,000,000
plus (ii) all amounts obtained by Holdings or the Borrower during such calendar
year from the sale of such Capital Stock to other present or former officers,
consultants, employees and directors in connection with any permitted
compensation and incentive arrangements plus (iii) all amounts obtained from
any key-man life insurance policies received during such calendar year;
notwithstanding the foregoing, 100% of the unused amount of payments in respect
of this clause (b) may be carried forward to the next succeeding fiscal year
and utilized to make payments pursuant to this clause (b);

(c)                                                                                  Holdings,
the Borrower and the Restricted Subsidiaries may make Investments permitted by
Section 10.5;

(d)                                                                                 to
the extent constituting Dividends, Holdings may enter into and consummate
transactions expressly permitted by Section 10.3 or the proviso to Section 9.9;

 95

(e)                                                                                  Holdings
may pay Dividends on the Closing Date to consummate the UVEST Acquisition;  and

(f)                                                                                    the
Borrower may make and pay Dividends to Holdings:

(i)                                     the
proceeds of which will be used to pay (or to make Dividends to allow any direct
or indirect parent of Holdings to pay) the tax liability to each relevant
jurisdiction in respect of consolidated, combined, unitary or affiliated
returns for the relevant jurisdiction of Holdings (or such parent) attributable
to Holdings, the Borrower or its Subsidiaries;

(ii)                                  the
proceeds of which shall be used by Holdings to pay (or to make Dividends to
allow any direct or indirect parent of Holdings to pay) its operating expenses
incurred in the ordinary course of business and other corporate overhead costs
and expenses (including administrative, legal, accounting and similar expenses
provided by third parties), which are reasonable and customary and incurred in
the ordinary course of business, in an aggregate amount not to exceed
$3,000,000 in any fiscal year plus any actual, reasonable and customary
indemnification claims made by directors or officers of Holdings (or any parent
thereof);

(iii)                               the
proceeds of which shall be used by Holdings to pay franchise taxes and other
fees, taxes and expenses required to maintain its (or any of its direct or
indirect parents’) corporate existence;

(iv)                              the
proceeds of which shall be used by Holdings to make Restricted Payments
permitted by Section 10.6; and

(v)                                 the
proceeds of which shall be used by Holdings to pay (or to make Dividends to
allow any direct or indirect parent thereof to pay) fees and expenses (other
than to Affiliates) related to any unsuccessful equity or debt offering
permitted by this Agreement;

(g)                                                                                 Holdings
may declare and make distributions or pay dividends on its Capital Stock; provided,
that (i) the aggregate amount of such distributions paid or made by Holdings
pursuant to this Section 10.6(g) shall not at any time exceed 50% of cumulative
Consolidated Net Income at such time and (ii) at the time of payment of such
dividends or the making of such distributions, and after giving effect thereto,
the Borrower’s ratio of Consolidated Total Debt on the date of such payment of
dividends or making of such distributions to Consolidated EBITDA for the most
recent Test Period ended prior to the date of such payment of dividends or the
making of such distributions and calculated as if such payment of dividends or
making of such distributions had occurred on the first day of such Test Period,
shall be less than 3.50:1.00.

10.7                           Limitations
on Debt Payments and Amendments. 
(a)  The Borrower will not prepay, repurchase or redeem or
otherwise defease any Senior Unsecured Subordinated Notes or Refinanced Senior
Unsecured Subordinated Notes (it being understood that any payment of principal
prior to the Senior Unsecured Subordinated Note Maturity Date shall be deemed a
prepayment for purposes of this Section 10.7(a)) or other subordinated
Indebtedness permitted hereunder; provided, however, that so long
as no Default or Event of

 96
 

Default has occurred and is continuing, the
Borrower or any Restricted Subsidiary may prepay, repurchase or redeem any
Senior Unsecured Subordinated Notes or Refinanced Senior Unsecured Subordinated
Notes (i) for an aggregate price which will not exceed, when taken together
with prepayments permitted by subclause (b) below, (x) $25,000,000 plus (y) the
Available Amount at the time of such prepayment, repurchase or redemption or
(ii) with the proceeds of Refinanced Senior Unsecured Subordinated Notes or
Indebtedness subordinated to the Obligations that is permitted by
Section 10.1 and that has terms that, taken as a whole, are not materially
less favorable to the Lenders than the Senior Unsecured Subordinated Notes.

(b)                                                                                 The
Borrower will not prepay, repurchase or redeem or otherwise defease any
Permitted Additional Notes (it being understood that any payment of principal
prior to the Senior Unsecured Subordinated Note Maturity Date shall be deemed a
prepayment for purposes of this Section 10.7(b)); provided, however,
that so long as no Default or Event of Default has occurred and is continuing,
the Borrower or any Restricted Subsidiary may prepay, repurchase or redeem any
Permitted Additional Notes (i) for an aggregate price which will not
exceed, when taken together with prepayments permitted by subclause (a) above,
(x) $25,000,000 plus (y) the Available Amount at the time of such prepayment,
repurchase or redemption or (ii) with the proceeds of other Permitted
Additional Notes or other Indebtedness subordinated to the Obligations that is
permitted by Section 10.1 and that has terms that, taken as a whole, are
not materially less favorable to the Lenders than the Permitted Additional
Notes being refinanced.

(c)                                                                                  The
Borrower will not waive, amend, modify or terminate the Senior Unsecured
Subordinated Note Indenture or any indenture governing Refinanced Senior
Unsecured Subordinated Notes to the extent that any such waiver, amendment,
modification, or termination would be adverse to the Lenders in any material
respect.

10.8                           Limitations
on Sale Leasebacks.  The Borrower
will not, and will not permit any of the Restricted Subsidiaries to, enter into
or effect any Sale Leasebacks, other than Permitted Sale Leasebacks.

10.9                           Consolidated
Total Debt to Consolidated EBITDA Ratio. 
The Borrower will not permit the Consolidated Total Debt to Consolidated
EBITDA Ratio for any Test Period ending during any period set forth below to be
greater than the ratio set forth below opposite such period:

	
  Period

  	
   

  	
  Ratio

  
	
  October 1, 2006 through March 31, 2007

  	
   

  	
  7.90 to 1.00

  
	
  April 1, 2007 through June 30, 2007

  	
   

  	
  7.40 to 1.00

  
	
  July 1, 2007 through September 30, 2007

  	
   

  	
  6.90 to 1.00

  
	
  October 1, 2007 through December 31, 2007

  	
   

  	
  6.70 to 1.00

  
	
  January 1, 2008 through March 31, 2008

  	
   

  	
  6.50 to 1.00

  

 

 97
 

 

	
  April 1, 2008 through June 30, 2008

  	
   

  	
  6.25 to 1.00

  
	
  July 1, 2008 through September 30, 2008

  	
   

  	
  5.90 to 1.00

  
	
  October 1, 2008 through December 31, 2008

  	
   

  	
  5.60 to 1.00

  
	
  January 1, 2009 through March 31, 2009

  	
   

  	
  5.40 to 1.00

  
	
  April 1, 2009 through June 30, 2009

  	
   

  	
  5.10 to 1.00

  
	
  July 1, 2009 through September 30, 2009

  	
   

  	
  4.90 to 1.00

  
	
  October 1, 2009 through December 31, 2009

  	
   

  	
  4.60 to 1.00

  
	
  January 1, 2010 through March 31, 2010

  	
   

  	
  4.40 to 1.00

  
	
  April 1, 2010 through June 30, 2010

  	
   

  	
  4.10 to 1.00

  
	
  July 1, 2010 through September 30, 2010

  	
   

  	
  3.90 to 1.00

  
	
  October 1, 2010 through December 31, 2010

  	
   

  	
  3.70 to 1.00

  
	
  January 1, 2011 through March 31, 2011

  	
   

  	
  3.50 to 1.00

  
	
  April 1, 2011 through June 30, 2011

  	
   

  	
  3.25 to 1.00

  
	
  Thereafter

  	
   

  	
  3.00 to 1.00

  

 

10.10                     Consolidated
EBITDA to Consolidated Interest Expense Ratio.  The Borrower will not permit the Consolidated
EBITDA to Consolidated Interest Expense Ratio for any Test Period ending during
any period set forth below to be less than the ratio set forth below opposite
such period:

	
  Period

  	
   

  	
  Ratio

  
	
  October 1, 2006 through March 31, 2007

  	
   

  	
  1.30 to 1.00

  
	
  April 1, 2007 through June 30, 2007

  	
   

  	
  1.40 to 1.00

  
	
  July 1, 2007 through September 30, 2007

  	
   

  	
  1.50 to 1.00

  
	
  October 1, 2007 through December 31, 2007

  	
   

  	
  1.55 to 1.00

  
	
  January 1, 2008 through March 31, 2008

  	
   

  	
  1.60 to 1.00

  
	
  April 1, 2008 through June 30, 2008

  	
   

  	
  1.65 to 1.00

  

 

 98
 

 

	
  July 1, 2008 through September 30, 2008

  	
   

  	
  1.75 to 1.00

  
	
  October 1, 2008 through December 31, 2008

  	
   

  	
  1.85 to 1.00

  
	
  January 1, 2009 through March 31, 2009

  	
   

  	
  1.90 to 1.00

  
	
  April 1, 2009 through June 30, 2009

  	
   

  	
  2.00 to 1.00

  
	
  July 1, 2009 through September 30, 2009

  	
   

  	
  2.05 to 1.00

  
	
  October 1, 2009 through December 31, 2009

  	
   

  	
  2.15 to 1.00

  
	
  January 1, 2010 through March 31, 2010

  	
   

  	
  2.25 to 1.00

  
	
  April 1, 2010 through June 30, 2010

  	
   

  	
  2.35 to 1.00

  
	
  July 1, 2010 through September 30, 2010

  	
   

  	
  2.50 to 1.00

  
	
  October 1, 2010 through December 31, 2010

  	
   

  	
  2.60 to 1.00

  
	
  January 1, 2011 through March 31, 2011

  	
   

  	
  2.75 to 1.00

  
	
  April 1, 2011 through June 30, 2011

  	
   

  	
  2.95 to 1.00

  
	
  Thereafter

  	
   

  	
  3.00 to 1.00

  

 

10.11                     [Reserved].

10.12                     Burdensome
Agreements.  Holdings and the
Borrower, will not, nor shall they permit any of their Restricted Subsidiaries
to, enter into or permit to exist any agreement (other than this Agreement or
any other Credit Document) that limits the ability of (a) any Restricted
Subsidiary of the Borrower that is not a Guarantor to pay Dividends to
Holdings, the Borrower or any Guarantor or (b) the Borrower or any Credit Party
to create, incur, assume or suffer to exist Liens on property of such Person
for the benefit of the Secured Parties with respect to the Obligations or under
the Credit Documents; provided, that the foregoing clauses (a) and (b)
shall not apply to agreements which (i) (x) exist on the date hereof and (to
the extent not otherwise permitted by this Section 10.12) are listed on
Schedule 10.12 hereto and (y) to the extent any such agreements permitted by
clause (x) are set forth in an agreement evidencing Indebtedness, any agreement
evidencing any permitted renewal, extension or refinancing of such Indebtedness
so long as such renewal, extension or refinancing does not expand the scope of
such agreement, (ii) are binding on a Restricted Subsidiary at the time such
Restricted Subsidiary first becomes a Restricted Subsidiary of the Borrower, so
long as such agreement was not entered into solely in contemplation of such
Person becoming a Restricted Subsidiary of the Borrower, (iii) represents
Indebtedness of a Restricted Subsidiary of the Borrower which is not a Credit
Party and which is permitted by Section 10.1, (iv) arise pursuant to
agreements entered into with respect to any sale, transfer, lease or other
disposition permitted by Section 10.4, (v) are customary provisions in joint
venture agreements and other similar agreements applicable to

 99
 

joint ventures permitted under Section 10.5 and
applicable solely to such joint venture entered into in the ordinary course of
business, (vi) are negative pledges and restrictions on Liens in favor of any
holder of Indebtedness permitted under Section 10.1, but solely to the extent
any negative pledge relates to the property financed by or the subject of such
Indebtedness, (vii) are customary restrictions on leases, subleases, licenses
or Capital Stock or asset sale agreements otherwise permitted hereby so long as
such restrictions relate to the Capital Stock or assets subject thereto, (viii)
comprise restrictions imposed by any agreement relating to secured Indebtedness
permitted pursuant to Section 10.1 to the extent that such restrictions apply
only to the property or assets securing such Indebtedness, (ix) are customary
provisions restricting subletting or assignment of any lease governing a
leasehold interest of the Borrower or any Restricted Subsidiary, (x) are
customary provisions restricting assignment of any agreement entered into in
the ordinary course of business, (xi) are restrictions on cash or other
deposits imposed by customers under contracts entered into in the ordinary
course of business, and (xii) are imposed by law.

10.13                     Permitted
Activities of Holdings.  Holdings
shall not conduct, transact or otherwise engage in any business or operations
other than (i) the ownership of the Capital Stock of the Borrower, (ii) the
maintenance of its legal existence, including the ability to incur fees, costs and
expenses relating to such maintenance, (iii) participating in tax, accounting
and other administrative matters as a member of the consolidated group of
Holdings and Borrower, (iv) the performance of the Credit Documents, (v) any
public offering of its common stock or any other issuance of its Capital Stock
not prohibited by Article 10, including the costs, fees and expenses related
thereto, (vi) any transaction that Holdings is permitted to enter into or
consummate under this Article 10, including making any Dividend permitted by
Section 10.6 or holding any cash received in connection with Dividends made by
the Borrower in accordance with Section 10.6 pending application thereof by
Holdings in the manner contemplated by Section 10.6, (vii) incurring fees,
costs and expenses relating to overhead and general operating including,
without limitation, professional fees for legal, tax and accounting issues,
(viii) providing indemnification to officers and directors and as otherwise
permitted in Section 9 and 10 and (ix) activities incidental to the businesses
or activities described in clauses (i) to (viii) of this Section 10.13.  Holdings will not own or acquire any assets
(other than shares of Capital Stock of the Borrower, cash and Permitted
Investments) or incur any liabilities (other than liabilities under the Credit
Documents, liabilities under its guarantee of the Senior Unsecured Subordinated
Notes (or Refinanced Senior Unsecured Subordinated Notes or Permitted
Additional Notes) and liabilities imposed by law, including tax liabilities,
and other liabilities incidental to its existence and business and activities
permitted by this Agreement).

SECTION 11.                          Events
of Default

Upon the occurrence of any of the following specified
events (each an “Event of Default”):

11.1                           Payments.  The Borrower shall (a) default in the
payment when due of any principal of the Loans or (b) default, and such
default shall continue for five or more days, in the payment when due of any
interest on the Loans or any Fees or any Unpaid Drawings or of any other
amounts owing hereunder or under any other Credit Document; or

 100
 

11.2                           Representations,
etc.  Any representation, warranty or
statement made or deemed made by any Credit Party herein or in any other Credit
Document or any certificate, statement, report or other document delivered or
required to be delivered pursuant hereto or thereto shall prove to be untrue in
any material respect on the date as of which made or deemed made; or

11.3                           Covenants.  Any Credit Party shall (a) default in the
due performance or observance by it of any term, covenant or agreement
contained in Section 9.1(e) or Section 10 or (b) default in
the due performance or observance by it of any term, covenant or agreement
(other than those referred to in Section 11.1 or 11.2 or clause
(a) of this Section 11.3) contained in this Agreement or any other
Credit Document and such default shall continue unremedied for a period of at
least 30 days after receipt of written notice by the Borrower from the
Administrative Agent or the Required Lenders; or

11.4                           Default
Under Other Agreements.  The Borrower
or any of the Restricted Subsidiaries shall (i) default in any payment
with respect to any Indebtedness (other than pursuant to Section 11.1) in
excess of $20,000,000 in the aggregate for the Borrower and such Subsidiaries,
beyond the period of grace, if any, provided in the instrument or agreement
under which such Indebtedness was created or (ii) default in the
observance or performance of any agreement or condition relating to any such
Indebtedness or contained in any instrument or agreement evidencing, securing
or relating thereto, or any other event shall occur or condition exist (other
than, with respect to Indebtedness consisting of any Hedging Agreements,
termination events or equivalent events pursuant to the terms of such Hedging
Agreements), the effect of which default or other event or condition is to
cause, or to permit the holder or holders of such Indebtedness (or a trustee or
agent on behalf of such holder or holders) to cause, any such Indebtedness to
become due prior to its stated maturity; or (b) without limiting the
provisions of clause (a) above, any such Indebtedness shall be declared to
be due and payable, or required to be prepaid other than by a regularly scheduled
required prepayment or as a mandatory prepayment (and, with respect to
Indebtedness consisting of any Hedging Agreements, other than due to a
termination event or equivalent event pursuant to the terms of such Hedging
Agreements), prior to the stated maturity thereof; or

11.5                           Bankruptcy,
etc.  The Borrower or any Specified
Subsidiary shall commence a voluntary case, proceeding or action concerning
itself under Title 11 of the United States Code entitled “Bankruptcy,”; or an
involuntary case, proceeding or action is commenced against the Borrower or any
Specified Subsidiary and the petition is not controverted within 10 days after
commencement of the case, proceeding or action; or an involuntary case,
proceeding or action is commenced against the Borrower or any Specified
Subsidiary and the petition is not dismissed within 60 days after commencement
of the case, proceeding or action; or a custodian (as defined in the Bankruptcy
Code) receiver, receiver manager, trustee or similar person is appointed for,
or takes charge of, all or substantially all of the property of the Borrower or
any Specified Subsidiary; or the Borrower or any Specified Subsidiary commences
any other proceeding or action under any reorganization, arrangement,
adjustment of debt, relief of debtors, dissolution, insolvency or liquidation
or similar law of any jurisdiction whether now or hereafter in effect relating
to the Borrower or any Specified Subsidiary; or there is commenced against the
Borrower or any Specified Subsidiary any such proceeding or action that remains
undismissed for a period of 60 days; or the Borrower or any Specified
Subsidiary is adjudicated

 101
 

insolvent or bankrupt; or any order of relief or other
order approving any such case or proceeding or action is entered; or the
Borrower or any Specified Subsidiary suffers any appointment of any custodian
receiver, receiver manager, trustee or the like for it or any substantial part
of its property to continue undischarged or unstayed for a period of 60 days;
or the Borrower or any Specified Subsidiary makes a general assignment for the
benefit of creditors; or any corporate action is taken by the Borrower or any
Specified Subsidiary for the purpose of effecting any of the foregoing; or

11.6                           ERISA.  Any Plan shall fail to satisfy the minimum
funding standard required for any plan year or part thereof or a waiver of such
standard or extension of any amortization period is sought or granted under
Section 412 of the Code; any Plan is or shall have been terminated or is
the subject of termination proceedings under ERISA (including the giving of
written notice thereof); an event shall have occurred or a condition shall
exist in either case entitling the PBGC to terminate any Plan or to appoint a
trustee to administer any Plan (including the giving of written notice
thereof); any Plan shall have an accumulated funding deficiency (whether or not
waived); any of the Borrower, any Subsidiary thereof or any ERISA Affiliate has
incurred or is likely to incur a liability to or on account of a Plan under
Section 409, 502(i), 502(l), 515, 4062, 4063, 4064, 4069, 4201 or 4204 of
ERISA or Section 4971 or 4975 of the Code (including the giving of written
notice thereof); (b) there could result from any event or events set forth
in clause (a) of this Section 11.6 the imposition of a lien, the
granting of a security interest, or a liability, or the reasonable likelihood
of incurring a lien, security interest or liability; and (c) such lien,
security interest or liability will or would be reasonably likely to have a
Material Adverse Effect; or

11.7                           Guarantee.  The Guarantee or any material provision
thereof shall cease to be in full force or effect or any Guarantor thereunder
or any Credit Party shall deny or disaffirm in writing any Guarantor’s obligations
under the Guarantee; or

11.8                           Security
Documents.  Any Security Document or
any material provision thereof shall cease to be in full force or effect (other
than pursuant to the terms hereof or thereof or as a result of acts or
omissions of the Administrative Agent, the Collateral Agent or any Lender) or
any grantor, pledgor or mortgagor thereunder or any Credit Party shall deny or
disaffirm in writing any grantor’s, pledgor’s or mortgagor’s obligations under
such Security Document; or

11.9                           Subordination.  The Specified Obligations or the obligations
of Holdings or the Restricted Subsidiaries pursuant to the Guarantee shall
cease to constitute senior indebtedness under the subordination provisions of
any document or instrument evidencing any permitted subordinated Indebtedness
or such subordination provisions shall be invalidated or otherwise cease to be
legal, valid and binding obligations of the parties thereto, enforceable in
accordance with their terms; or

11.10                     Judgments.  One or more judgments or decrees shall be
entered against the Borrower or any of the Restricted Subsidiaries involving a
liability of $20,000,000 or more in the aggregate for all such judgments and
decrees for the Borrower and the Restricted Subsidiaries (to the extent not
paid or fully covered by insurance provided by a carrier not

 102
 

disputing coverage) and any such judgments or decrees
shall not have been satisfied, vacated, discharged, stayed or bonded pending
appeal within 60 days from the entry thereof; or

11.11                     Change of
Control.  A Change of Control shall
occur; then, and in any such event, and at any time thereafter, if any Event of
Default shall then be continuing, the Administrative Agent shall, upon the
written request of the Required Lenders, by written notice to the Borrower,
take any or all of the following actions, without prejudice to the rights of
the Administrative Agent or any Lender to enforce its claims against the
Borrower, except as otherwise specifically provided for in this Agreement
(provided that, if an Event of Default specified in Section 11.5 shall
occur with respect to the Borrower or any Specified Subsidiary, the result that
would occur upon the giving of written notice by the Administrative Agent as
specified in clauses (i), (ii), (iii) and (v) below shall occur
automatically without the giving of any such notice):  (i) declare the Total Revolving Credit
Commitment or the Total Swingline Commitment terminated and whereupon any such
Commitment, if any, of each Lender or the Swingline Lender, as the case may be,
shall forthwith terminate immediately and any Fees theretofore accrued shall
forthwith become due and payable without any other notice of any kind,
(ii) declare the principal of and any accrued interest and fees in respect
of all Loans and all Obligations owing hereunder and thereunder to be,
whereupon the same shall become, forthwith due and payable without presentment,
demand, protest or other notice of any kind, all of which are hereby waived by
the Borrower; (iii) terminate any Letter of Credit that may be terminated
in accordance with its terms; and/or (iv) direct the Borrower to pay (and
the Borrower agrees that upon receipt of such notice, or upon the occurrence of
an Event of Default specified in Section 11.5 with respect to the Borrower
or any Specified Subsidiary, it will pay) to the Administrative Agent at the
Administrative Agent’s Office such additional amounts of cash, to be held as
security for the Borrower’s reimbursement obligations for Drawings that may
subsequently occur thereunder, equal to the aggregate Stated Amount of all
Letters of Credit issued and then outstanding.

11.12                     Borrower’s
Right to Cure.

(a)                                                                                  Financial
Performance Covenants. 
Notwithstanding anything to the contrary contained in this
Section 11, in the event that the Borrower fails to comply with the
requirements of any Financial Performance Covenant, until the expiration of the
10th day subsequent to the date the certificate calculating such Financial
Performance Covenant is required to be delivered pursuant to Section 9.1(d),
Holdings or the Borrower shall have the right to issue Permitted Cure
Securities for cash or otherwise receive cash contributions to the capital of
Holdings or the Borrower (collectively, the “Cure Right”), and upon the
receipt by the Borrower of such cash (the “Cure Amount”) pursuant to the
exercise by the Borrower of such Cure Right such Financial Performance Covenant
shall be recalculated giving effect to the following pro forma adjustments:

(i)                                     Consolidated
EBITDA shall be increased, solely for the purpose of measuring the Financial
Performance Covenants and not for any other purpose under this Agreement, by an
amount equal to the Cure Amount; and

 103
 

(ii)                                  If,
after giving effect to the foregoing recalculations, the Borrower shall then be
in compliance with the requirements of all Financial Performance Covenants, the
Borrower shall be deemed to have satisfied the requirements of the Financial
Performance Covenants as of the relevant date of determination with the same
effect as though there had been no failure to comply therewith at such date,
and the applicable breach or default of the Financial Performance Covenants
that had occurred shall be deemed cured for this purposes of this Agreement.

(b)                                                                                 Limitation
on Exercise of Cure Right. 
Notwithstanding anything herein to the contrary, (a) in each four
fiscal-quarter period there shall be at least two consecutive fiscal quarters
during which the Cure Right is not exercised and (b) the Cure Amount shall
be no greater than the amount required for purposes of complying with the
Financial Performance Covenants.

SECTION 12.                          The
Administrative Agent

12.1                           Appointment.  Each Lender hereby irrevocably designates and
appoints the Administrative Agent as the agent of such Lender under this
Agreement and the other Credit Documents, and each such Lender irrevocably
authorizes the Administrative Agent, in such capacity, to take such action on
its behalf under the provisions of this Agreement and the other Credit
Documents and to exercise such powers and perform such duties as are expressly
delegated to the Administrative Agent by the terms of this Agreement and the
other Credit Documents, together with such other powers as are reasonably
incidental thereto.  Notwithstanding any
provision to the contrary elsewhere in this Agreement, the Administrative Agent
shall not have any duties or responsibilities, except those expressly set forth
herein, or any fiduciary relationship with any Lender, and no implied
covenants, functions, responsibilities, duties, obligations or liabilities
shall be read into this Agreement or any other Credit Document or otherwise
exist against the Administrative Agent. 
The Syndication Agent, in its capacity as such, shall have no
obligations, duties or responsibilities under this Agreement but shall be entitled
to all benefits of this Section 12.

12.2                           Delegation
of Duties.  The Administrative Agent may
execute any of its duties under this Agreement and the other Credit Documents
by or through agents or attorneys-in-fact and shall be entitled to advice of
counsel concerning all matters pertaining to such duties.  The Administrative Agent shall not be
responsible for the negligence or misconduct of any agents or attorneys-in-fact
selected by it with reasonable care.

12.3                           Exculpatory
Provisions.  Neither the Administrative
Agent nor any of its officers, directors, employees, agents, attorneys-in-fact
or Affiliates shall be (a) liable for any action lawfully taken or omitted
to be taken by it or such Person under or in connection with this Agreement or any
other Credit Document (except for its or such Person’s own gross negligence or
willful misconduct) or (b) responsible in any manner to any of the Lenders
for any recitals, statements, representations or warranties made by the
Borrower, any Guarantor, any other Credit Party or any officer thereof
contained in this Agreement or any other Credit Document or in any certificate,
report, statement or other document referred to or provided for in, or received
by the Administrative Agent under or in connection with, this Agreement or any
other Credit Document or for the value, validity, effectiveness, genuineness,
enforceability or

 104
 

sufficiency of this Agreement or any other Credit
Document or for any failure of the Borrower, any Guarantor or any other Credit
Party to perform its obligations hereunder or thereunder.  The Administrative Agent shall not be under
any obligation to any Lender to ascertain or to inquire as to the observance or
performance of any of the agreements contained in, or conditions of, this
Agreement or any other Credit Document, or to inspect the properties, books or
records of the Borrower.

12.4                           Reliance
by Administrative Agent.  The
Administrative Agent shall be entitled to rely, and shall be fully protected in
relying, upon any writing, resolution, notice, consent, certificate, affidavit,
letter, telecopy, telex or teletype message, statement, order or other document
or conversation believed by it to be genuine and correct and to have been
signed, sent or made by the proper Person or Persons and upon advice and
statements of legal counsel (including counsel to the Borrower), independent
accountants and other experts selected by the Administrative Agent.  The Administrative Agent may deem and treat
the Lender specified in the Register with respect to any amount owing hereunder
as the owner thereof for all purposes unless a written notice of assignment,
negotiation or transfer thereof shall have been filed with the Administrative
Agent.  The Administrative Agent shall be
fully justified in failing or refusing to take any action under this Agreement
or any other Credit Document unless it shall first receive such advice or
concurrence of the Required Lenders as it deems appropriate or it shall first
be indemnified to its satisfaction by the Lenders against any and all liability
and expense that may be incurred by it by reason of taking or continuing to
take any such action.  The Administrative
Agent shall in all cases be fully protected in acting, or in refraining from
acting, under this Agreement and the other Credit Documents in accordance with
a request of the Required Lenders, and such request and any action taken or
failure to act pursuant thereto shall be binding upon all the Lenders and all
future holders of the Loans.

12.5                           Notice
of Default.  The Administrative Agent
shall not be deemed to have knowledge or notice of the occurrence of any
Default or Event of Default hereunder unless the Administrative Agent has
received notice from a Lender or the Borrower referring to this Agreement,
describing such Default or Event of Default and stating that such notice is a “notice
of default”.  In the event that the
Administrative Agent receives such a notice, the Administrative Agent shall
give notice thereof to the Lenders.  The
Administrative Agent shall take such action with respect to such Default or
Event of Default as shall be reasonably directed by the Required Lenders,
provided that unless and until the Administrative Agent shall have received
such directions, the Administrative Agent may (but shall not be obligated to)
take such action, or refrain from taking such action, with respect to such
Default or Event of Default as it shall deem advisable in the best interests of
the Lenders (except to the extent that this Agreement requires that such action
be taken only with the approval of the Required Lenders or each of the Lenders,
as applicable).

12.6                           Non-Reliance
on Administrative Agent and Other Lenders. 
Each Lender expressly acknowledges that neither the Administrative Agent
nor any of its officers, directors, employees, agents, attorneys-in-fact or
Affiliates has made any representations or warranties to it and that no act by
the Administrative Agent hereinafter taken, including any review of the affairs
of the Borrower, any Guarantor or any other Credit Party, shall be deemed to
constitute any representation or warranty by the Administrative Agent to any
Lender.  Each Lender represents to the
Administrative Agent that it has, independently and without reliance

 105
 

upon the Administrative Agent or any other Lender, and
based on such documents and information as it has deemed appropriate, made its
own appraisal of and investigation into the business, operations, property,
financial and other condition and creditworthiness of the Borrower, any
Guarantor and any other Credit Party and made its own decision to make its
Loans hereunder and enter into this Agreement. 
Each Lender also represents that it will, independently and without
reliance upon the Administrative Agent or any other Lender, and based on such
documents and information as it shall deem appropriate at the time, continue to
make its own credit analysis, appraisals and decisions in taking or not taking
action under this Agreement and the other Credit Documents, and to make such
investigation as it deems necessary to inform itself as to the business,
operations, property, financial and other condition and creditworthiness of the
Borrower, any Guarantor and any other Credit Party.  Except for notices, reports and other
documents expressly required to be furnished to the Lenders by the
Administrative Agent hereunder, the Administrative Agent shall not have any
duty or responsibility to provide any Lender with any credit or other
information concerning the business, assets, operations, properties, financial condition,
prospects or creditworthiness of the Borrower, any Guarantor or any other
Credit Party that may come into the possession of the Administrative Agent or
any of its officers, directors, employees, agents, attorneys-in-fact or
Affiliates.

12.7                           Indemnification.  The Lenders agree to indemnify the
Administrative Agent in its capacity as such (to the extent not reimbursed by
the Borrower and without limiting the obligation of the Borrower to do so),
ratably according to their respective portions of the Total Credit Exposure in
effect on the date on which indemnification is sought (or, if indemnification
is sought after the date upon which the Commitments shall have terminated and
the Loans shall have been paid in full, ratably in accordance with their respective
portions of the Total Credit Exposure in effect immediately prior to such
date), from and against any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any
kind whatsoever that may at any time (including at any time following the
payment of the Loans) be imposed on, incurred by or asserted against the
Administrative Agent in any way relating to or arising out of, the Commitments,
this Agreement, any of the other Credit Documents or any documents contemplated
by or referred to herein or therein or the transactions contemplated hereby or
thereby or any action taken or omitted by the Administrative Agent under or in
connection with any of the foregoing, provided that no Lender shall be liable
for the payment of any portion of such liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, costs, expenses or disbursements
resulting from the Administrative Agent’s gross negligence or willful
misconduct.  The agreements in this
Section 12.7 shall survive the payment of the Loans and all other amounts
payable hereunder.

12.8                           Administrative
Agent in its Individual Capacity. 
The Administrative Agent and its Affiliates may make loans to, accept
deposits from and generally engage in any kind of business with the Borrower,
any Guarantor and any other Credit Party as though the Administrative Agent
were not the Administrative Agent hereunder and under the other Credit
Documents.  With respect to the Loans
made by it, the Administrative Agent shall have the same rights and powers
under this Agreement and the other Credit Documents as any Lender and may
exercise the same as though it were not the Administrative Agent, and the terms
“Lender” and “Lenders” shall include the Administrative Agent in its individual
capacity.

 106

12.9         Successor Agent.  The Administrative Agent may resign as
Administrative Agent upon 20 days’ prior written notice to the Lenders and the
Borrower.  If the Administrative Agent
shall resign as Administrative Agent under this Agreement and the other Credit
Documents, then the Required Lenders shall appoint from among the Lenders a
successor agent for the Lenders, which successor agent shall be approved by the
Borrower (which approval shall not be unreasonably withheld), whereupon such
successor agent shall succeed to the rights, powers and duties of the
Administrative Agent, and the term “Administrative Agent” shall mean such
successor agent effective upon such appointment and approval, and the former
Administrative Agent’s rights, powers and duties as Administrative Agent shall
be terminated, without any other or further act or deed on the part of such
former Administrative Agent or any of the parties to this Agreement or any
Lenders or other holders of the Loans.  After
any retiring Administrative Agent’s resignation as Administrative Agent, the
provisions of this Section 12 shall inure to its benefit as to any actions
taken or omitted to be taken by it while it was Administrative Agent under this
Agreement and the other Credit Documents.

12.10       Withholding Tax.  To the extent required by any applicable law,
the Administrative Agent may withhold from any interest payment to any Lender
an amount equivalent to any applicable withholding tax, except taxes imposed as
a result of a current or former connection unrelated to this Agreement between
the Administrative Agent and any jurisdiction outside of the United States
imposing such tax.  If the Internal
Revenue Service or any authority of the United States or other jurisdiction
asserts a claim that the Administrative Agent did not properly withhold tax
from amounts paid to or for the account of any Lender (because the appropriate
form was not delivered, was not properly executed, or because such Lender
failed to notify the Administrative Agent of a change in circumstances which
rendered the exemption from, or reduction of, withholding tax ineffective, or
for any other reason), such Lender shall indemnify the Administrative Agent
fully for all amounts paid, directly or indirectly, by the Administrative Agent
as tax or otherwise, including penalties and interest, together with all
expenses incurred, including legal expenses, allocated staff costs and any out
of pocket expenses.

12.11       Collateral Agent.  Each Lender hereby further authorizes the
Administrative Agent to appoint the Collateral Agent to act on behalf of the
Lenders, and authorizes the Collateral Agent, on behalf of and for the benefit
of Lenders, to be the agent for and representative of the Lenders with respect
to the Collateral and the Security Documents.

SECTION 13.         Miscellaneous

13.1         Amendments and Waivers.  Neither this Agreement nor any other Credit
Document, nor any terms hereof or thereof may be amended, supplemented or
modified except in accordance with the provisions of this Section 13.1.  The Required Lenders may, or, with the
written consent of the Required Lenders, the Administrative Agent may, from
time to time, (a) enter into with the relevant Credit Party or Credit
Parties written amendments, supplements or modifications hereto and to the other
Credit Documents for the purpose of adding any provisions to this Agreement or
the other Credit Documents or changing in any manner the rights of the Lenders
or the Credit Parties hereunder or thereunder or (b) waive, on such terms
and conditions as the Required Lenders or the Administrative Agent, as the case
may be, may specify in such instrument, any of the requirements of this
Agreement or the other Credit

 107
 

Documents or any Default or Event of Default and its
consequences; provided, however, that no such waiver, amendment,
supplement or modification shall directly (i) forgive any portion of any
Loan or extend the final scheduled maturity date of any Loan or reduce the
stated rate, or forgive any portion, or extend the date for the payment, of any
interest or fee payable hereunder (other than as a result of waiving the
applicability of any post-default increase in interest rates), or reduce or
extend the date for payment of any Unpaid Drawings, or extend the final
expiration date of any Lender’s Commitment or extend the final expiration date
of any Letter of Credit beyond the date specified in Section 3.1(a), or
increase the aggregate amount of any Commitment of any Lender, or amend or
modify any provisions of Section 13.8(a) or any other provision that
provides for the pro rata nature of disbursements by or payments to Lenders, in
each case without the written consent of each Lender directly and adversely
affected thereby, or (ii) amend, modify or waive any provision of this
Section 13.1 or reduce the percentages specified in the definitions of the
terms “Required Term Loan Lenders”, “Required Revolving Credit Lenders”, and “Required
Lenders” or consent to the assignment or transfer by the Borrower of its rights
and obligations under any Credit Document to which it is a party (except as
permitted pursuant to Section 10.3), in each case without the written
consent of each Lender directly and adversely affected thereby, or
(iii) amend, modify or waive any provision of Section 12 without the
written consent of the then-current Administrative Agent, or (iv) amend,
modify or waive any provision of Section 3 without the written consent of
the Letter of Credit Issuer, or (v) amend, modify or waive any provisions
hereof relating to Swingline Loans without the written consent of the Swingline
Lender, or (vi) change any Commitment to a Commitment of a different Class
in each case without the prior written consent of each Lender directly and
adversely affected thereby, or (vii) release all or substantially all of
the Guarantors under the Guarantee (except as expressly permitted by the
Guarantee), or release all or substantially all of the Collateral under the
Security Agreement, the Pledge Agreement and the Mortgages, in each case
without the prior written consent of each Lender, or (viii) amend
Section 2.9(a) so as to permit Interest Period intervals greater than
six months without regard to availability to Lenders, without the written
consent of each Lender directly and adversely affected thereby, or (ix)
decrease any Tranche C Term Loan Repayment Amount, extend any scheduled Tranche
C Term Loan Repayment Date or decrease the allocation of any mandatory
prepayment to be received by any Lender holding any Tranche C Term Loans, in
each case without the written consent of the Required Term Tranche C Loan
Lenders, or (x) amend, modify or waive any provision of any Credit
Document that would disproportionately affect the obligation of the Borrower to
make payments with respect to any Credit Facility without the written consent
of the Required Tranche C Term Loan Lenders or the Required Tranche C Term Loan
Lenders or the Revolving Credit Lenders, as applicable.  Any such waiver and any such amendment,
supplement or modification shall apply equally to each of the affected Lenders
and shall be binding upon the Borrower, such Lenders, the Administrative Agent
and all future holders of the affected Loans. 
In the case of any waiver, the Borrower, the Lenders and the
Administrative Agent shall be restored to their former positions and rights
hereunder and under the other Credit Documents, and any Default or Event of
Default waived shall be deemed to be cured and not continuing, it being
understood that no such waiver shall extend to any subsequent or other Default
or Event of Default or impair any right consequent thereon.  Notwithstanding the foregoing, (A) each
Joinder Agreement may, without the input or consent of the other Lenders,
effect such amendments to this Agreement and the other Credit Documents as may
be necessary or appropriate in the opinion of the Administrative Agent, to
effect the provisions of Section 2.14 and (B) the Administrative Agent

 108
 

and the Borrower may effect such amendments to this
Agreement as may be necessary or appropriate to effect the provisions set forth
in the proviso to the definition of Required Cash.

In addition, notwithstanding the foregoing, this
Agreement may be amended with the written consent of the Administrative Agent,
the Borrower and the Lenders providing the relevant Replacement Term Loans (as
defined below) to permit the refinancing, replacement or modification of all
outstanding Term Loans (“Refinanced Term Loans”) with a replacement term
loan tranche hereunder (“Replacement Term Loans”), provided that
(a) the aggregate principal amount of such Refinanced Term Loans shall not
exceed the aggregate principal amount of such Refinanced Term Loans, (b) the
Applicable Margin for such Replacement Term Loans shall not be higher than the
Applicable Margin for such Refinanced Term Loans, (c) the weighted average life
to maturity of such Replacement Term Loans shall not be shorter than the
weighted average life to maturity of such Refinanced Term Loans at the time of
such refinancing (except to the extent of nominal amortization for periods
where amortization has been eliminated as a result of the prepayment of
applicable Term Loans) and (d) all other terms applicable to such Replacement
Term Loans shall be substantially identical to, or no less favorable to the
Lenders providing such Replacement Term Loans than those applicable to such
Refinanced Term Loans, except to the extent necessary to provide for covenants
and other terms applicable to any period after the latest final maturity of the
Term Loans of such Class in effect immediately prior to such refinancing.

13.2         Notices. 
(a)  All notices, requests and
demands to or upon the respective parties hereto to be effective shall be in
writing (including by facsimile transmission or other electronic transmission)
and, unless otherwise expressly provided herein, shall be deemed to have been
duly given or made when delivered, or three days after being deposited in the
mail, postage prepaid, or, in the case of telecopy notice, when received,
addressed as follows in the case of the Borrower and the Administrative Agent,
and as set forth on Schedule 1.1(b) in the case of the other parties
hereto, or to such other address as may be hereafter notified by the respective
parties hereto:

The Borrower:

 

LPL Holdings, Inc.

9785 Towne Centre Drive

San Diego, California 92121-1968

Attention:  Chief Financial Officer

Telecopier:  858-642-7455

 

With a copy to:

LPL Holdings, Inc.

1 Beacon Street, 22nd Floor

Boston, Massachusetts
02108-3100

Attention: General
Counsel

Telecopier: 617-536-2811

 109
 

The Administrative Agent
and the Collateral Agent:

 

Morgan Stanley Senior
Funding, Inc.

One Pierrepont Plaza, 7th Floor

300 Cadman Plaza West

Brooklyn, New York 11201

Attention:  Larry Benison

Eric De Santis

Telephone: 718-754-7299 /
7290

Telecopier: 718-754-7249
/ 7250

E-mail: larry.benison@morganstanley.com

Eric.desantis@morganstanley.com

 

provided, that any notice, request
or demand to or upon the Administrative Agent or the Lenders pursuant to
Sections 2.3, 2.6, 2.9, 4.2 and 5.1 shall not be effective until received.

(b)                           Notices
and other communications to the Lenders and the Letter of Credit Issuer
hereunder may be delivered or furnished by electronic communication (including
e-mail and Internet or intranet websites) pursuant to procedures approved
by Administrative Agent and the Borrower; provided, that the foregoing
shall not apply to notices to any Lender or the Letter of Credit Issuer
pursuant to Section 2 if such Lender or the Letter of Credit Issuer, as
applicable, has notified the Administrative Agent that it is incapable of
receiving notices under such Section by electronic communication.  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.  Unless Administrative
Agent otherwise prescribes, (i) notices and other communications sent to
an e-mail address shall be deemed received upon the sender’s receipt of an
acknowledgement from the intended recipient (such as by the “return receipt
requested” function, as available, return e-mail or other written
acknowledgement); provided, that if such notice or other communication
is not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent at the opening of business on
the next Business Day for the recipient, and (ii) notices or
communications posted to an Internet or intranet website shall be deemed
received upon the deemed receipt by the intended recipient at its e-mail
address as described in the foregoing clause (i) of notification that such
notice or communication is available and identifying the website address
therefor.

13.3         No Waiver; Cumulative Remedies.  No failure to exercise and no delay in
exercising, on the part of the Administrative Agent or any Lender, any right,
remedy, power or privilege hereunder or under the other Credit Documents shall
operate as a waiver thereof, nor shall any single or partial exercise of any
right, remedy, power or privilege hereunder preclude any other or further
exercise thereof or the exercise of any other right,

 110
 

remedy, power or privilege.  The rights, remedies, powers and privileges
herein provided are cumulative and not exclusive of any rights, remedies,
powers and privileges provided by law.

13.4         Survival of Representations and
Warranties.  All representations and
warranties made hereunder, in the other Credit Documents and in any document,
certificate or statement delivered pursuant hereto or in connection herewith
shall survive the execution and delivery of this Agreement and the making of
the Loans hereunder.

13.5         Payment of Expenses and Taxes; Indemnification.  (a)  The Borrower agrees (i) to pay
or reimburse the Agents for all their reasonable out-of-pocket costs and
expenses incurred in connection with the development, preparation and execution
of, and any consent, waiver, amendment, supplement or modification to, this
Agreement and the other Credit Documents and any other documents prepared in
connection herewith or therewith, and the consummation and administration of
the transactions contemplated hereby and thereby, including the reasonable
fees, disbursements and other charges of one counsel to the Agents with
statements with respect to the foregoing to be submitted to the Borrower prior
to the Effective Date (in the case of amounts to be paid on the Effective Date
and from time to time thereafter on a quarterly basis), (ii) to pay or reimburse
each Lender and the Administrative Agent and the Collateral Agent for all their
reasonable and documented costs and expenses incurred in connection with the
enforcement or preservation of any rights under this Agreement, the other
Credit Documents and any such other documents, including the reasonable fees,
disbursements and other charges of one counsel to the Administrative Agent and
the Collateral Agent (unless there is an actual or perceived conflict of
interest in which case each such Person may retain its own counsel), and one
counsel for the Lenders (unless there is an actual or perceived conflict of
interest in which case each Lender affected thereby may retain its own
counsel), (iii) to pay, indemnify, and hold harmless each Lender and each Agent
from any and all reasonable out-of-pocket costs and expenses of creating and
perfecting Liens in favor of the Collateral Agent, for the benefit of the
Secured Parties including recording and filing fees, UCC search fees, title
insurance premiums (to the extent not directly paid to the applicable insurer)
and any and all liabilities with respect to, or resulting from, any delay in
paying, stamp, excise and other similar taxes, if any, that may be payable or
determined to be payable in connection with the execution and delivery of, or
consummation or administration of any of the transactions contemplated by, or
any amendment, supplement or modification of, or any waiver or consent under or
in respect of, this Agreement, the other Credit Documents and any such other
documents, and (iv) to pay, indemnify and hold harmless each Lender, the
Collateral Agent and the Administrative Agent and their respective Affiliates,
directors, officers, employees, trustees, attorneys, advisors and agents from
and against any and all other liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any
kind or nature whatsoever, including reasonable and documented fees,
disbursements and other charges of one counsel to the Administrative Agent and
the Collateral Agent (unless there is an actual or perceived conflict of
interest in which case each such Person may retain its own counsel) and one
counsel for the Lenders (unless there is an actual or perceived conflict of
interest in which case each Lender affected thereby may retain its own
counsel), with respect to the execution, delivery, enforcement, performance and
administration of this Agreement, the other Credit Documents and any such other
documents, including any of the foregoing relating to the violation of,
noncompliance with or liability under, any Environmental Law or any actual or
alleged presence of Hazardous Materials applicable to the operations of the
Borrower, any of its Subsidiaries or

 111
 

any of the Real Estate (all the foregoing in
this clause (iv), collectively, the “indemnified liabilities”); provided,
that the Borrower shall have no obligation hereunder to the Agents or any
Lender nor any of their respective Affiliates, directors, officers, employees,
trustees and agents with respect to indemnified liabilities arising from the
gross negligence or willful misconduct of the party to be indemnified or
disputes among the Agents, the Lenders and/or their transferees not arising
from any act or omission of the Borrower or any other Credit Party.  If for any reason the foregoing
indemnification is unavailable to any Agent or Lender or insufficient to hold
it harmless, then the Borrower shall contribute to the amount paid or payable
by such Agent or such Lender as a result of such loss, claim, damage or
liability in such proportion as is appropriate to reflect the relative economic
interests of (i) Holdings, the Borrower and its Subsidiaries on the one hand
and (ii) such Agent or such Lender on the other hand in the matters
contemplated by the Credit Documents as well as the relative fault of (i)
Holdings, the Borrower and its Subsidiaries and (ii) such Agent or such Lender
with respect to such loss, claim, damage or liability and any other relevant
equitable considerations.

(b)                           No Credit Party nor any Person indemnified
pursuant to clause (iv) of Section 13.5(a) shall have any liability for any
punitive, indirect or consequential damages resulting from this Agreement or
any other Credit Document or arising out of its activities in connection
herewith or therewith (whether before or after the Closing Date).

(c)                           The agreements in this Section 13.5
shall survive repayment of the Loans and all other amounts payable hereunder.

13.6         Successors and Assigns; Participations and Assignments.  (a)  The provisions of this Agreement
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby (including any Affiliate of
the Letter of Credit Issuer that issues any Letter of Credit), 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) and (ii) no Lender may assign or otherwise transfer its
rights or obligations hereunder except in accordance with this Section.  Nothing in this Agreement, expressed or
implied, shall be construed to confer upon any Person (other than the parties
hereto, their respective successors and assigns permitted hereby (including any
Affiliate of the Letter of Credit Issuer that issues any Letter of Credit),
Participants (to the extent provided in paragraph (c) of this
Section) and, to the extent expressly contemplated hereby, the Related Parties
of each of the Administrative Agent, the Letter of Credit Issuer and the
Lenders) any legal or equitable right, remedy or claim under or by reason of
this Agreement.

(b)   (i)  Subject to the conditions set forth
in paragraph (b)(ii) below, any Lender may assign to one or more
assignees all or a portion of its rights and obligations under this Agreement
(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 be unreasonably
withheld or delayed; it being understood that, without limitation, the Borrower
shall have the right to withhold its consent to any assignment if, in order for
such assignment to comply with applicable law, the Borrower would be required
to obtain the consent of, or make any filing or registration with, any
Governmental Authority, other than routine filings or registrations) of:

 112
 

(A)          the
Borrower; provided, that no consent of the Borrower shall be required
for an assignment to a Lender, an Affiliate of a Lender (unless increased costs
would result therefrom, except if an Event of Default under Section 11.1
or Section 11.5 has occurred and is continuing), an Approved Fund or, if
an Event of Default under Section 11.1 or Section 11.5 has occurred
and is continuing, any other assignee; and

(B)           the
Administrative Agent, and, in the case of Revolving Credit Commitments or
Revolving Credit Loans, the Swingline Lender, and in the case of Revolving
Credit Commitments, the Letter of Credit Issuer; provided, that no
consent of the Administrative Agent, the Swingline Lender or the Letter of
Credit Issuer shall be required for an assignment of (x) any Commitment to an
assignee that is a Lender with a Commitment of the same Class immediately prior
to giving effect to such assignment or (y) any Term Loan to a Lender, an
Affiliate of a Lender or an Approved Fund.

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

(A)          except
in the case of an assignment to a Lender, an Affiliate of a Lender or an
Approved Fund or an assignment of the entire remaining amount of the assigning
Lender’s Commitments or Loans of any Class, the amount of the Commitments or
Loans of the assigning Lender subject to each such assignment (determined as of
the date the Assignment and Acceptance with respect to such assignment is
delivered to the Administrative Agent) shall not be less than, in the case of
Revolving Commitments or Revolving Loans, $5,000,000, or in the case of a
Tranche C Term Loan Commitment, a New Term Loan Commitment or Term Loans,
$1,000,000 (provided that for purposes of calculating such minimum amounts of
Term Loans, any assignment of a Tranche C Term Loan Commitment or a New Term
Loan Commitment shall be aggregated), unless each of the Borrower and the
Administrative Agent otherwise consents; provided, that no such consent
of the Borrower shall be required if an Event of Default under
Section 11.1 or Section 11.5 has occurred and is continuing; and provided,
further, that contemporaneous assignments to a single assignee made by
affiliated Lenders shall be aggregated for purposes of meeting the minimum
assignment amount requirements stated above;

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

(C)           the
parties to each assignment shall execute and deliver to the Administrative
Agent an Assignment and Acceptance; and

 113
 

(D)          the
assignee, if it shall not be a Lender, shall deliver to the Administrative
Agent an administrative questionnaire in a form approved by the Administrative
Agent.

For the purpose of this Section 13.6(b), the term
“Approved Fund” has the following meaning:

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

(iii)          Subject to acceptance and recording thereof pursuant to
paragraph (b)(v) of this Section, from and after the effective date
specified in each Assignment and Acceptance, the assignee thereunder shall be a
party hereto and, to the extent of the interest assigned by such Assignment and
Acceptance, have the rights and obligations of a Lender under this Agreement,
and the assigning Lender thereunder shall, to the extent of the interest
assigned by such Assignment and Acceptance, be released from its obligations
under this Agreement (and, in the case of an Assignment and Acceptance covering
all of the assigning Lender’s rights and obligations under this Agreement, such
Lender shall cease to be a party hereto but shall continue to be entitled to
the benefits of Sections 2.10, 2.11, 3.5, 5.4 and 13.5).  Any assignment or transfer by a Lender of
rights or obligations under this Agreement that does not comply with this
Section 13.6 shall be treated for purposes of this Agreement as a sale by
such Lender of a participation in such rights and obligations in accordance
with paragraph (c) of this Section.

(iv)          The Administrative Agent, acting for this purpose as an
agent of the Borrower, shall maintain at the Administrative Agent’s Office a
copy of each Assignment and Acceptance delivered to it and a register for the
recordation of the names and addresses of the Lenders, and the Commitments of,
and principal amount of the Loans and any payment made by the Letter of Credit
Issuer under any Letter of Credit owing to, each Lender pursuant to the terms
hereof from time to time (the “Register”).  Further, the Register shall contain the name
and address of the Administrative Agent and the lending office through which
each such Person acts under this Agreement. 
The entries in the Register shall be conclusive, and the Borrower, the
Administrative Agent, the Letter of Credit Issuer and the Lenders may treat
each Person whose name is recorded in the Register pursuant to the terms hereof
as a Lender hereunder for all purposes of this Agreement, notwithstanding
notice to the contrary.  The Register, as
in effect at the close of business on the preceding Business Day, shall be
available for inspection by the Borrower, the Letter of Credit Issuer and any
Lender, at any reasonable time and from time to time upon reasonable prior
notice.

(v)           Upon its receipt of a duly completed Assignment and
Acceptance executed by an assigning Lender and an assignee, the assignee’s
completed administrative questionnaire (unless the assignee shall already be a
Lender hereunder) and any written consent to such assignment required by
paragraph (b)(i) of this Section, the Administrative Agent shall
accept such Assignment and Acceptance and record the information

 114
 

contained therein in the Register.  No assignment shall be effective for purposes
of this Agreement unless and until it has been recorded in the Register as
provided in this paragraph.

(c)   (i)  Any Lender may, without the consent
of the Borrower, the Administrative Agent, the Letter of Credit Issuer or the
Swingline Lender, sell participations to one or more banks or other entities
(each, a “Participant”) in all or a portion of such Lender’s rights and
obligations under this Agreement (including all or a portion of its Commitments
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, the Letter of
Credit Issuer 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 or any other Credit Document, provided that such agreement or
instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, modification or waiver described in the
first proviso to Section 13.1 that affects such Participant.  Subject to paragraph (c)(ii) of this Section,
the Borrower agrees that each Participant shall be entitled to the benefits of
Sections 2.10, 2.11 and 5.4 to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to paragraph (b) of this Section.  To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 13.8(b) as though
it were a Lender, provided such Participant agrees to be subject to Section
13.8(a) as though it were a Lender.

(ii)           A Participant shall not be entitled to receive any greater
payment under Section 2.10, 2.11, 3.5 or 5.4 than the applicable Lender
would have been entitled to receive with respect to the participation sold to
such Participant, unless the sale of the participation to such Participant is
made with the Borrower’s prior written consent. 
A Participant that would be a Non-U.S. Lender if it were a Lender shall
not be entitled to the benefits of Section 5.4 unless the Borrower is
notified of the participation sold to such Participant and such Participant
agrees, for the benefit of the Borrower, to comply with
Section 5.4(b) as though it were a Lender.

(d)                           Any Lender may, without the consent of the
Borrower or the Administrative Agent, at any time pledge or assign a security
interest in all or any portion of its rights under this Agreement to secure
obligations of such Lender, including any pledge or assignment to secure
obligations to a Federal Reserve Bank, and this Section shall not apply to any
such pledge or assignment of a security interest, provided that no such pledge
or assignment of a security interest shall release a Lender from any of its
obligations hereunder or substitute any such pledgee or assignee for such
Lender as a party hereto.  In order to
facilitate such pledge or assignment, the Borrower hereby agrees that, upon
request of any Lender at any time and from time to time after the Borrower has
made its initial borrowing hereunder, the Borrower, as the case may be, shall
provide to such Lender, at the Borrower’s own expense, a promissory note,
substantially in the form of Exhibit I-1, I-2 or I-3, as the case may be,
evidencing Tranche C Term Loans, New Term Loans and Revolving Credit Loans and
Swingline Loans, respectively, owing to such Lender.

 115
 

(e)                           Subject to Section 13.16, the
Borrower authorizes each Lender to disclose to any Participant, secured
creditor of such Lender or assignee (each, a “Transferee”) and any
prospective Transferee any and all financial information in such Lender’s
possession concerning the Borrower and its Affiliates that has been delivered
to such Lender by or on behalf of the Borrower and its Affiliates pursuant to
this Agreement or which has been delivered to such Lender by or on behalf of
the Borrower and its Affiliates in connection with such Lender’s credit
evaluation of the Borrower and its Affiliates prior to becoming a party to this
Agreement.

13.7         Replacements of Lenders under Certain Circumstances.  (a)  The Borrower shall be permitted to
replace any Lender (or any Participant) that (a) requests reimbursement
for amounts owing pursuant to Section 2.10, 2.11, 3.5 or 5.4, (b) is
affected in the manner described in Section 2.10(a)(iii) and as a
result thereof any of the actions described in such Section is required to be
taken or (c) becomes a Defaulting Lender, with a replacement bank or other
financial institution; provided, that (i) such replacement does not
conflict with any Applicable Law, (ii) no Event of Default shall have
occurred and be continuing at the time of such replacement, (iii) the
Borrower shall repay (or the replacement bank or institution shall purchase, at
par) all Loans and other amounts (other than any disputed amounts) pursuant to
Section 2.10, 2.11, 3.5 or 5.4, as the case may be, owing to such replaced
Lender prior to the date of replacement, (iv) the replacement bank or
institution, if not already a Lender, and the terms and conditions of such
replacement, shall be reasonably satisfactory to the Administrative Agent,
(v) the replaced Lender shall be obligated to make such replacement in
accordance with the provisions of Section 13.6 and (vi) any such
replacement shall not be deemed to be a waiver of any rights that the Borrower,
the Administrative Agent or any other Lender shall have against the replaced
Lender or that the replaced Lender shall have against the Borrower and the
other parties for indemnity, contribution, payment of disputed and other unpaid
amounts and otherwise.

(b)                           If any Lender (such Lender a “Non-Consenting
Lender”) has failed to consent to a proposed amendment, waiver, discharge
or termination, which pursuant to the terms of Section 13.1 requires the
consent of all of the Lenders affected and with respect to which the Required
Lenders shall have granted their consent, then provided no Default or Event of
Default then exists, the Borrower shall have the right (unless such
Non-Consenting Lender grants such consent) to replace such Non-Consenting
Lender by requiring such Non-Consenting Lender to assign its Loans and
Commitments to one or more assignees reasonably acceptable to the
Administrative Agent, provided that: (i) all Obligations of the
Borrower owing to such Non-Consenting Lender being replaced shall be paid in
full to such Non-Consenting Lender concurrently with such assignment, and
(ii) the replacement Lender shall purchase the foregoing by paying to such
Non-Consenting Lender a price equal to the principal amount thereof plus
accrued and unpaid interest thereon.  In
connection with any such assignment, the Borrower, the Administrative Agent,
such Non-Consenting Lender and the replacement Lender shall otherwise comply
with Section 13.6.

13.8         Adjustments; Set-off. 
(a)  If any Lender (a “benefited Lender”) shall at any time
receive any payment of all or part of its Loans, or interest thereon, or
receive any collateral in respect thereof (whether voluntarily or
involuntarily, by set-off, pursuant to events or proceedings of the nature
referred to in Section 10.5, or otherwise), in a greater proportion than
any such payment to or collateral received by any other Lender, if any, in
respect of such other Lender’s Loans or interest thereon, such benefited Lender
shall purchase for cash

 116
 

from the other Lenders a participating
interest in such portion of each such other Lender’s Loans, or shall provide
such other Lenders with the benefits of any such collateral, or the proceeds
thereof, as shall be necessary to cause such benefited Lender to share the
excess payment or benefits of such collateral or proceeds ratably with each of
the Lenders; provided, however, that if all
or any portion of such excess payment or benefits is thereafter recovered from
such benefited Lender, such purchase shall be rescinded, and the purchase price
and benefits returned, to the extent of such recovery, but without interest.

(b)                           After the occurrence and during the
continuance of an Event of Default, in addition to any rights and remedies of
the Lenders provided by law, each Lender shall have the right, without prior
notice to the Borrower, any such notice being expressly waived by the Borrower
to the extent permitted by applicable law, upon any amount becoming due and
payable by the Borrower hereunder (whether at the stated maturity, by
acceleration or otherwise) to set-off and appropriate and apply against such
amount any and all deposits (general or special, time or demand, provisional or
final), in any currency, and any other credits, indebtedness or claims, in any
currency, in each case whether direct or indirect, absolute or contingent,
matured or unmatured, at any time held or owing by such Lender or any branch or
agency thereof to or for the credit or the account of the Borrower, as the case
may be.  Each Lender agrees promptly to
notify the Borrower, as the case may be, and the Administrative Agent after any
such set-off and application made by such Lender, provided that the failure to
give such notice shall not affect the validity of such set-off and application.

13.9         Counterparts.  This Agreement may be executed by one or more
of the parties to this Agreement on any number of separate counterparts
(including by facsimile or other electronic transmission), and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument.  A set of the copies of this
Agreement signed by all the parties shall be lodged with the Borrower and the
Administrative Agent.

13.10       Severability.  Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

13.11       Integration.  This Agreement and the other Credit Documents
represent the agreement of Holdings, the Borrower, the Administrative Agent,
the Collateral Agent and the Lenders with respect to the subject matter hereof,
and there are no promises, undertakings, representations or warranties by the
Collateral Agent, the Administrative Agent or any Lender relative to subject
matter hereof not expressly set forth or referred to herein or in the other
Credit Documents.

13.12       GOVERNING LAW.  THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 117
 

13.13       Submission to Jurisdiction; Waivers.  The Borrower hereby irrevocably and
unconditionally:

(a)                           submits for itself and its property in any
legal action or proceeding relating to this Agreement and the other Credit
Documents to which it is a party, or for recognition and enforcement of any
judgment in respect thereof, to the non-exclusive general jurisdiction of the
courts of the State of New York, the courts of the United States of America for
the Southern District of New York and appellate courts from any thereof; provided,
that the Borrower agrees that it shall not commence any actions or proceedings
against any Lender or any Agent relating to this Agreement and the other Credit
Documents in the State of California;

(b)                           consents that any such action or
proceeding may be brought in such courts and waives any objection that it may
now or hereafter have to the venue of any such action or proceeding in any such
court or that such action or proceeding was brought in an inconvenient court
and agrees not to plead or claim the same;

(c)                           agrees that service of process in any such
action or proceeding may be effected by mailing a copy thereof by registered or
certified mail (or any substantially similar form of mail), postage prepaid, to
the Borrower at its address set forth in Section 13.2 or at such other
address of which the Administrative Agent shall have been notified pursuant
thereto;

(d)                           agrees that nothing herein shall affect
the right to effect service of process in any other manner permitted by law or
shall limit the right to sue in any other jurisdiction; and

(e)                           waives, to the maximum extent not
prohibited by law, any right it may have to claim or recover in any legal
action or proceeding referred to in this Section 13.13 any special,
exemplary, punitive or consequential damages.

13.14       Acknowledgments.  The Borrower hereby acknowledges that:

(a)                           it has been advised by counsel in the
negotiation, execution and delivery of this Agreement and the other Credit
Documents;

(b)                           neither the Administrative Agent nor any
Lender has any fiduciary relationship with or duty to Holdings or the Borrower
arising out of or in connection with this Agreement or any of the other Credit
Documents, and the relationship between Administrative Agent and Lenders, on
one hand, and Holdings or the Borrower, on the other hand, in connection
herewith or therewith is solely that of debtor and creditor; and

(c)                           no joint venture is created hereby or by
the other Credit Documents or otherwise exists by virtue of the transactions
contemplated hereby among the Lenders or among Holdings, the Borrower and the
Lenders.

13.15       WAIVERS OF JURY TRIAL.  HOLDINGS, THE BORROWER, THE
ADMINISTRATIVE AGENT, THE COLLATERAL AGENT AND THE LENDERS HEREBY IRREVOCABLY
AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING
RELATING TO THIS

 118
 

AGREEMENT OR ANY OTHER CREDIT
DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

13.16       Confidentiality.  The Collateral Agent, the Administrative
Agent and each Lender shall hold all non-public information (other than
non-public information that becomes public other than by reason of a breach of
this Section by a Person or from a known breach of any confidentiality
obligations owing to Holdings, the Borrower or any of their Subsidiaries)
furnished by or on behalf of Holdings and the Borrower in connection with such
Lender’s evaluation of whether to become a Lender hereunder or obtained by such
Lender, the Collateral Agent or the Administrative Agent pursuant to the
requirements of this Agreement (“Confidential Information”) confidential
in accordance with its customary procedure for handling confidential
information of this nature and (in the case of a Lender that is a bank) in
accordance with safe and sound banking practices and in any event may make
disclosure as required or requested by any governmental agency or
representative thereof or pursuant to legal or regulatory process or to such Lender’s,
the Collateral Agent’s, or the Administrative Agent’s attorneys, professional
advisors or independent auditors or Affiliates; provided, that unless
specifically prohibited by applicable law or court order, each Lender, the
Collateral Agent and the Administrative Agent shall notify Holdings and the
Borrower of any request by any governmental agency or representative thereof
(other than any such request in connection with an examination of the financial
condition of such Lender by such governmental agency) for disclosure of any
such non-public information prior to disclosure of such information; and provided,
further, that in no event shall any Lender, the Collateral Agent or the
Administrative Agent be obligated or required to return any materials furnished
by Holdings, the Borrower or any Subsidiary of the Borrower.  Each Lender, the Collateral Agent and the
Administrative Agent agrees that it will not provide to prospective Transferees
or to any pledgee referred to in Section 13.6(d) or to prospective direct or
indirect contractual counterparties under Interest Rate Hedging Agreements to
be entered into in connection with Loans made hereunder any of the Confidential
Information unless such Person is advises of and agrees to be bound by the
provisions of (or provisions substantially similar to) this Section 13.16.

13.17       USA PATRIOT Act.  Each Lender hereby notifies the Borrower that
pursuant to the requirements of the USA Patriot Act (Title III of Pub. L.
107-56 (signed into law October 26, 2001)) (the “Patriot 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 Patriot Act.

13.18       Effect of Amendment and Restatement of
the Original Credit Agreement.  On
the Effective Date, the Original Credit Agreement shall be amended, restated
and superseded in its entirety.  The
parties hereto acknowledge and agree that (a) this Agreement and the other
Credit Documents, whether executed and delivered in connection herewith or
otherwise, do not constitute a novation, payment and reborrowing, or
termination of the Original Obligations under the Original Credit Agreement as
in effect prior to the Effective Date, (b) such Original Obligations are
in all respects continuing (as amended and restated hereby) as Indebtedness and
Obligations outstanding under this Agreement and (c) this Agreement shall
supersede and replace in its entirety the Original Credit Agreement, and such
Original Credit Agreement shall be of no further force and effect.

 119
 

13.19       Consent of Required Lenders.  By its execution hereof, each Tranche C Term
Loan Lender party to this Agreement consents to the amendment and restatement
of the Original Credit Agreement, as set forth herein , and the amendment,
amendment and restatement, replacement or other modification to any other
Credit Documents, in each case, as so amended, amended and restated, replaced
or otherwise modified on the Effective Date in the form entered into by the
Credit Parties and the applicable Agent. 
Upon the receipt of written consents from the Required Lenders (as
defined in the Original Credit Agreement) pursuant to this Section 13.19 and Section
6.5(a), and notwithstanding any provision to the contrary contained in the
Original Credit Agreement, the Original Credit Agreement may be amended and
restated in its entirety so long as the Original Term Loans of each Original
Lender not consenting to the amendment and restatement as provided for herein
receives payment in full of the principal of, and interest accrued on, each
Original Term Loan made by it and all other amounts owing to it or accrued for
its account (other than contingent indemnification obligations) under the
Original Credit Agreement.

[SIGNATURE
PAGE FOLLOWS]

 120

IN WITNESS WHEREOF, each of the parties hereto has
caused a counterpart of this Agreement to be duly executed and delivered as of
the date first above written.

	
  

  	
  LPL HOLDINGS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephanie L. Brown

  	
   

  
	
   

  	
   

  	
  Name: Stephanie
  L. Brown

  
	
   

  	
   

  	
  Title: Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  LPL INVESTMENT HOLDINGS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephanie L. Brown

  	
   

  
	
   

  	
   

  	
  Name: Stephanie
  L. Brown

  
	
   

  	
   

  	
  Title: Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  INDEPENDENT ADVISERS GROUP

  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephanie L. Brown

  	
   

  
	
   

  	
   

  	
  Name: Stephanie
  L. Brown

  
	
   

  	
   

  	
  Title: Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GLENOAK, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephanie L. Brown

  	
   

  
	
   

  	
   

  	
  Name: Stephanie
  L. Brown

  
	
   

  	
   

  	
  Title: Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  LINSCO/PRIVATE LEDGER INSURANCE ASSOCIATES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas Berry

  	
   

  
	
   

  	
   

  	
  Name: Thomas Berry

  
	
   

  	
   

  	
  Title: Secretary
  and Vice-President

  

 

 

	
  

  	
  GOLDMAN SACHS CREDIT PARTNERS L.P.,

  as Sole Lead Arranger, Sole Bookrunner,

  Syndication Agent and a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Bruce Mendelsohn

  	
   

  
	
   

  	
   

  	
  Bruce H.
  Mendelsohn

  
	
   

  	
   

  	
  Authorized
  Signatory

  

 

 

	
  

  	
  MORGAN STANLEY SENIOR FUNDING,

  INC., as Administrative Agent and a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephen B. King

  	
   

  
	
   

  	
   

  	
  Name: Stephen B.
  King

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MORGAN STANLEY & CO., as
  Collateral Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephen B. King

  	
   

  
	
   

  	
   

  	
  Name: Stephen B.
  King

  
	
   

  	
   

  	
  Title: Executive
  Director

  

 

SCHEDULE 1.1(B)

TO
AMENDED AND RESTATED CREDIT AGREEMENT

Tranche C Term Loan
Commitments

	
  Lender

  	
   

  	
  Tranche C Term Loan

  Commitment

  	
   

  	
  Pro

  Rata Share

  	
   

  
	
  Goldman Sachs Credit
  Partners L.P.

  	
   

  	
  $

  	
  135,619,407.41

  	
   

  	
  17.07

  	
  %

  
	
  All Continuing Lenders

  	
   

  	
  $

  	
  658,755,592.59

  	
   

  	
  82.93

  	
  %

  
	
  Total

  	
   

  	
  $

  	
  794,375,000

  	
   

  	
  100

  	
  %Exhibit
10.2

2005 STOCK OPTION PLAN

for

INCENTIVE
STOCK OPTIONS

LPL
INVESTMENT HOLDINGS INC.

(F/K/A BD
INVESTMENT HOLDINGS INC.)

1.             Purpose.  The purpose of this 2005 Stock Option Plan
for Incentive Stock Options (the “ISO Plan”) is to give LPL Investment Holdings
Inc. (f/k/a BD Investment Holdings Inc.) and its subsidiaries (the “Company”)
a competitive advantage in attracting, retaining and motivating employees.

2.             Type of Stock
Options.  Options granted under the
ISO Plan shall be deemed “Incentive Stock Options” and shall meet the
requirements of Section 422 of the Internal Revenue Code of 1986, as amended
(the “Tax Code”).  No term of the ISO
Plan or related option agreement shall be interpreted, amended, nor shall the
Board exercise any discretion or authority so as to disqualify the ISO Plan or
any related option agreement under such Section 422 of the Tax Code without the
consent of the Participant (as defined below) affected.

3.             Administration.  The Board of Directors of the Company (the “Board”),
or any committee the Board may designate, shall have plenary authority to
administer the ISO Plan.  All decisions
made by the Board or designated committee pursuant to the ISO Plan shall be
final and conclusive.  The Board or
designated committee may correct any defect or supply any omission or reconcile
any inconsistency in the ISO Plan or in any option agreement in the manner and
to the extent it shall deem appropriate to carry the same into effect.

4.             Eligibility.  Employees of Company or its subsidiaries who
contribute to the management, growth and profitability of the Company may be
granted options under the ISO Plan at the discretion of the Board (“Participants”).

5.             Form of Option
Agreements.  As a condition to the
grant of options under the ISO Plan, each Participant shall execute an option
agreement in such form as may be approved by the Board.  The terms and provisions of such option
agreements may differ among Participants. 
Such agreements shall become effective upon execution by the Company and
the Participant.  If requested by the
Company, each Participant shall enter into a shareholders’ agreement in such
form as may be determined by the Company prior to the issuance of any stock
under the ISO Plan and related option agreement.

6.             Stock Subject to
ISO Plan.  The total number of shares
of stock reserved and available for grants under the ISO Plan shall be
3,349,437 shares of common stock of the Company.  The Board may in its discretion make such
substitution or adjustments in the aggregate number and kind of shares reserved
for issuance under the ISO Plan.  Any
shares subject

to an option that is forfeited, terminated, canceled
or unexercised shall again be available for grant under the ISO Plan.

7.             Purchase Price.  The purchase price per share of common stock
purchasable under any option grant shall not be less than 100% of the fair
market value per share on the date of grant as determined by the Board.  “Fair market value” means the value of a
share of common stock, determined as follows: if on the grant date or other
determination date the common stock is listed on an established national or
regional stock exchange, is admitted to quotation on The Nasdaq Stock Market,
Inc., or is publicly traded on an established securities market, the fair market
value of a share of common stock shall be the closing price of the common stock
on such exchange or in such market (the highest such closing price if there is
more than one such exchange or market) on the grant date or such other
determination date (or if there is no such reported closing price, the fair
market value shall be the mean between the highest bid and lowest asked prices
or between the high and low sale prices on such trading day) or, if no sale of
common stock is reported for such trading day, on the next preceding day on
which any sale shall have been reported. 
If the common stock is not listed on such an exchange, quoted on such
system or traded on such a market, fair market value shall be the value of the
common stock as determined by the Board in good faith.

8.             Option Term.  Incentive Stock Options shall not be
exercisable more than 10 years after the date of grant.

9.             Adjustments.  The Board shall make or provide for a fair
and proportionate adjustment in the number, price and kind of common stock
underlying the option in order to maintain the proportional interests of the
Participants and preserve the value of the option granted hereunder in the
event of any recapitalization, stock split, reorganization, merger,
consolidation, spin-off, combination, repurchase, stock exchange or other
transaction or event in which shares are increased, decreased, changed into or
exchanged for other securities of the Company or of another entity.  Any adjustment shall be made without changing
the aggregate purchase price of the option. 
Fractional shares will not be issued on account of any such adjustments.

10.           Exercisability.  Options shall vest and become exercisable at
such time or times and subject to such terms and conditions as shall be
determined by the Board.  The Board may
at any time accelerate the vesting, and/or extend the exercise period, of any
option.

11.           Method
of Exercise. Vested options may be exercised, in whole or in part, at any
time during the option term by giving written notice of exercise to the Company
in such form as provided by the Company. 
Notice shall be accompanied by full payment of the purchase price in a
form acceptable to the Company.  No
shares of common stock shall be issued until the Participant has made full
payment therefor and, if requested, has entered into a shareholders’ agreement
in such form as provided by the Company.

12.           Nontransferability.  No option granted under the ISO Plan shall be
assignable or otherwise transferable by the Participant other than by will or by
the laws of descent and distribution. 
The Company shall have no obligation to provide notice to the transferee
of

 2
 

the termination of an option due to termination of
employment, death, disability or retirement of the original Participant.  No common stock purchased under the ISO Plan
or related option agreement shall be assignable or otherwise transferable by
the holder without the prior written consent of the Company.

13.           Termination.  If the employment of a Participant terminates
for any reason, any option held by that Participant may thereafter be exercised
only in accordance with the terms and conditions established by the applicable
option agreement.

14.           Company Call Option.  On receipt of written notice of exercise, the
Board may elect to cash out all or part of the portion of the shares of common
stock for which an option is being exercised. 
In that event, the Board shall pay the Participant an amount, in cash or
common stock, at the discretion of the Board, equal to the excess of the fair
market value of the common stock over the option price times the number of
shares of common stock for which the option is being exercised on the effective
date of such cash-out.  In the event the
Company makes an initial public offering under the Securities Act of 1933, as
amended, of any of its outstanding shares of common stock (a “Public Offering”),
the provisions of this Section 14 shall terminate upon the completion of the
Public Offering.

15.           Mergers,
Reorganizations and other Capital Transactions.

(a) Reorganization in Which the Company Is the
Surviving Corporation and in which there is no Change of Control.  Subject to Subsection (b) of this Section 15,
if the Company shall be the surviving corporation in any reorganization, merger
or consolidation of the Company with one or more other corporations in which a
Change of Control does not occur, all outstanding options granted under the ISO
Plan shall pertain to and apply to the securities, cash or other property (or
any combination thereof) to which a holder of the number of shares of common
stock of the Company subject to such options would have been entitled
immediately following such reorganization, merger or consolidation, with a
corresponding proportionate adjustment of the purchase price per share so that the
aggregate purchase price thereafter shall be the same as the aggregate purchase
price of the shares subject to such options immediately prior to such
reorganization, merger or consolidation.

(b) Reorganization in Which the Company Is Not the
Surviving Corporation or in which there is a Change of Control.  Subject to the exceptions set forth in the
last sentence of this Section 15(b), fifteen days prior to the scheduled
consummation of a Change of Control (as defined in Section 15(c) herein), all
options outstanding hereunder shall become immediately exercisable and shall
remain exercisable for a period of fifteen days.  Any exercise of an option during such
fifteen-day period shall be conditioned upon the consummation of the event and
shall be effective only immediately before the consummation of the event.  Upon consummation of any Change of Control,
the ISO Plan and all outstanding but unexercised options shall terminate.  The Board shall send written notice of an
event that will result in such a termination to all individuals who hold
options not later than the time at which the Company gives notice thereof to
its stockholders.  This Section 15(b)
shall not apply to any Change of Control to the extent that (i) provision is
made in writing in connection with such Change of Control for the 

 3
 

assumption of the options theretofore granted, or for the substitution
for such options of new options covering the stock of a successor entity, or a
parent or subsidiary thereof, with appropriate adjustments as to the number and
kinds of shares and purchase prices, in which event the ISO Plan and options
theretofore granted shall continue in the manner and under the terms so
provided or (ii) a majority of the full Board determines that such Change of
Control shall not trigger application of the provisions of this Section 15(b).

(c)  Definition
of “Change of Control.”  For
purposes of this Section 15, Change of Control means (i) the dissolution or
liquidation of the Company or a merger, consolidation, or reorganization of the
Company with one or more other entities in which the Company is not the
surviving entity, (ii) a sale of substantially all of the assets of the Company
to another entity, or (iii) any transaction (including without limitation a
merger or reorganization in which the Company is the surviving entity) which
results in any person or entity (other than persons who are stockholders or
affiliates of the Company at the time the ISO Plan is approved by the Company’s
stockholders) owning 50% or more of the combined voting power of all classes of
stock of the Company.

16.           Term.  The ISO Plan will terminate 10 years after
the effective date thereof. Under the ISO Plan, granted stock options
outstanding as of such date shall not be affected or impaired by the termination
of the ISO Plan.

17.           Amendment.  The Board may amend, alter, or discontinue
the ISO Plan in its discretion.  If the
ISO Plan is discontinued, granted stock options outstanding as of the date of
such discontinuation shall not be effected or impaired.

18.           General Provisions.

(1)           The Board may require
each person purchasing or receiving shares pursuant to an option grant to
represent to and agree with the Company in writing that such person is
acquiring the shares without a view to the distribution thereof. The
certificates, if any, for such shares may include any legend which the Board
deems appropriate to reflect any restrictions on transfer.

(2)           Nothing contained in
the ISO Plan shall prevent the Company or its subsidiaries from adopting other
or additional compensation arrangements for its employees, officers and
directors.

(3)           Adoption of the ISO
Plan shall not confer upon any employee any right to continued employment, nor
shall it interfere in any way with the right of the Company or its subsidiaries
to terminate the employment of any employee at any time.

(4)           The ISO Plan and all
options granted and actions taken thereunder shall be governed by and construed
in accordance with the laws of the State of Delaware, without reference to
principles of conflict of laws that would direct the application of laws of any
other jurisdiction.

 4
 

19.           Effective
Date of ISO Plan.  The ISO Plan shall
be effective as of the date it is approved by a majority of the outstanding
voting shares of common stock of the Company.

20.           Blue
Sky Provisions.  Notwithstanding the
foregoing sections, any option granted under the ISO Plan to a Participant who
is a resident of the State of California on the grant date shall be subject to
the following additional terms and conditions:

(1)           Options may not be made
under the ISO Plan to Participants ten years after the earlier of :(i) the date
the ISO Plan was adopted by the Board or (ii) the date the ISO Plan was
approved by the shareholders of the Company.

(2)           An option granted under
the ISO Plan to a Participant who is a person who owns stock possessing more
than 10% of the combined voting power of all classes of stock of the Company or
its parent or its subsidiary corporations shall have a purchase price of at
least 110% of the fair market value of a share of common stock on the grant
date.

(3)           Any option granted
under the ISO Plan to a Participant who is not an officer, director, or
consultant of the Company or its affiliates shall become exercisable at a rate
of at 20% of the shares of stock subject to such grant per year for a period of
five years from the grant date; provided, that, such option shall be subject to
such reasonable forfeiture conditions as the Board may choose to impose and
which are not inconsistent with Section 260.140.41 of the California Code of
Regulations or any successor statute (the “California Code”).

(4)           The Company shall
deliver to the Participant financial statements on an annual basis regarding
the Company.  The financial statements so
provided shall comply with Section 260.140.46 of the California Code, but need
not comply with Section 260.613 of the California Code.

(5)           Any transfer of an
option granted under the ISO Plan authorized by the Board in an option
agreement must comply with Section 260.140.41(d) of the California Code.

(6)           Unless a Participant’s
employment is terminated for cause as defined by applicable law, the
Participant shall have the right to exercise an option prior to its termination
in accordance with Section 13 herein and only to the extent that the
Participant was entitled to exercise such stock option on the date employment
terminates, as follows: (i) at least six months from the date of termination if
the termination was caused by the Participant’s death or “permanent and total
disability” (within the meaning of Section 22(e)(3) of the Tax Code), and (ii)
at least 30 days from the date of termination if termination was caused by
other than death or “permanent and total disability” (within the meaning of
Section 22(e)(3) of the Tax Code) of the Participant.

(7)           At no time shall the
total number of shares of common stock issuable upon

 5
 

exercise of all outstanding options and the total
number of shares provided for under all stock bonus or similar plans of the
Company exceed the applicable percentage as calculated in accordance with the
conditions and exclusions of Section 260.140.45 of the California Code.

The restrictions of this Section 20 shall terminate upon the completion
of a Public Offering (as defined in Section 14 above).

 6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]