Document:

Amendment #4 to Credit Agreement dated 9/30/97

 Exhibit 10.2 
  
 CONFORMED COPY 
  
 AMENDMENT No. 4 dated as of September 30, 2002 (this
“Amendment”), to the Credit Agreement dated as of September 30, 1997, as Amended and Restated as of May 31, 2000 (as so amended and restated and as further amended by Amendment No. 1 thereto dated September 30, 2000, Amendment No. 2
thereto dated July 10, 2001, and Amendment No. 3 thereto dated April 2, 2002, the “Credit Agreement”), among PLIANT CORPORATION (formerly known as Huntsman Packaging Corporation), a Utah corporation (the
“Borrower”), ASPEN INDUSTRIAL, S.A. DE C.V., a Mexico corporation (the “Mexico Borrower”, and together with the Borrower, the “Borrowers”), the financial institutions listed on Schedule 2.01 to the
Credit Agreement (the “Lenders”), DEUTSCHE BANK TRUST COMPANY AMERICAS (formerly known as Bankers Trust Company), as Administrative Agent and Collateral Agent, JPMORGAN CHASE BANK (formerly known as The Chase Manhattan Bank), as
Syndication Agent, and THE BANK OF NOVA SCOTIA, as Documentation Agent. 
  
 A. The Borrower has requested that the
Lenders agree to amend certain provisions of the Credit Agreement as set forth herein. 
  
 B. The undersigned Lenders
are willing so to amend the Credit Agreement pursuant to the terms and subject to the conditions set forth herein. 
  
 C. Capitalized terms used and not otherwise defined herein shall have the meanings assigned thereto in the Credit Agreement. 
  
 SECTION 1. Amendments to Section 1.01. (a) Section 1.01 of the Credit Agreement is hereby amended by deleting in their entirety the definitions of the following terms: 
  

	 	(i)
	 
	“Additional Lender”; 
 

  

	 	(ii)
	 
	“Incremental Facility Termination Date”; 
 

  

	 	(iii)
	 
	“Incremental Tranche B Commitments”; 
 

  

	 	(iv)
	 
	“Incremental Tranche B Commitment Termination Date”; 
 

  

	 	(v)
	 
	“Incremental Tranche B Rate”; 
 

  

	 	(vi)
	 
	“Incremental Tranche B Term Loans”. 
 

  
 (b)  The definition of “Applicable Rate” is hereby amended by replacing in its entirety the table set forth in the definition as
follows: 

 

 
	 Leverage Ratio
 
	    	 ABR Spread
 
	    	 Eurodollar Spread
 
	    	 Commitment Fee Rate
 

	 Category 1
 Greater than or equal to 5.50 to 1.00
 	    	 2.50%
 	    	 3.50%
 	    	 0.750%
 
	 Category 2
 Less than 5.50 to 1
 but greater than or equal to 5.00 to 1.00

	    	 2.50%
 	    	 3.50%
 	    	 0.625%
 
	 Category 3
 Less than 5.00 to 1.00
 but greater than or equal to 4.25 to
1.00
 	    	 2.00%
 	    	 3.00%
 	    	 0.500%
 
	 Category 4
 Less than 4.25 to 1.00
 	    	 1.75%
 	    	 2.75%
 	    	 0.500%
 

 
  
 (c)    The definition of
“Permitted Acquisition” in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows: 
  
 “Permitted Acquisition” means any acquisition by the Borrower or a Restricted Subsidiary of the Borrower of all or substantially all the assets of, or all the shares of capital stock
of or other equity interests in, a Person or a division, line of business or other business unit of a Person if (a) no Default has occurred and is continuing or would result therefrom, (b) all transactions related thereto are consummated in all
material respects in accordance with applicable laws, (c) immediately after giving effect thereto, each Subsidiary formed for the purpose of or resulting from such acquisition shall be a Restricted Subsidiary and all the capital stock of each such
Subsidiary shall be owned directly by the Borrower or a Restricted Subsidiary of the Borrower and all actions required to be taken with respect to such acquired or newly formed Subsidiary under Sections 5.12 and 5.13 have been taken, (d) the
Borrower and its Restricted Subsidiaries are in compliance with the covenant contained in Section 6.13, (e) on a pro forma basis after giving effect to such acquisition, (1) the Borrower and its Restricted Subsidiaries are in compliance with the
covenant contained in Section 6.15 and (2) the Leverage Ratio is less than 4.00 to 1.00, in each case recomputed as at the last day of the most recently ended fiscal quarter of the Borrower for which financial statements are available, as if such
acquisition (and any related incurrence or repayment of Indebtedness, with any new Indebtedness being deemed to be amortized over the applicable testing period in accordance with its terms, and assuming that any Revolving Loans borrowed in
connection with such acquisition are repaid with excess cash balances when available) had occurred on the first day of each relevant period for testing such compliance and (f) the Borrower has delivered to the Administrative Agent an officer’s
certificate to the effect set forth in clauses (a), (b), (c), (d) and (e) above, together with all relevant financial information for the Person or assets to be acquired. Notwithstanding the foregoing, each of the Uniplast Acquisition, the Decora
Acquisition and the Roll-O Sheets Acquisition is a Permitted Acquisition for purposes of this Agreement. 
  
 (d)    The definition of “Restricted Payment” in Section 1.01 of the Credit Agreement is hereby amended by inserting the following sentence at the end of such definition: 
  
 For the avoidance of doubt, the receipt by the Borrower of shares of its capital stock in settlement of any claim made by
the Borrower pursuant to the Uniplast Purchase Agreement as in effect on June 15, 2001, shall not be a Restricted Payment. 

 (e)    The definition of “Tranche B Rate” in Section 1.01 of the Credit
Agreement is hereby amended and restated in its entirety as follows: 
  
 “Tranche B
Rate” means (a) if the Leverage Ratio is greater than or equal to 4.25 to 1.00 (i) 4.25% per annum, in the case of a Eurodollar Loan, and (ii) 3.25% per annum, in the case of an ABR Loan, or (b) if the Leverage Ratio is less than 4.25 to
1.00 (i) 4.00% per annum, in the case of a Eurodollar Loan, and (ii) 3.00% per annum, in the case of an ABR Loan. 
  
 (f)    Section 1.01 of the Credit Agreement is hereby amended by inserting the following defined terms in the appropriate alphabetical order, to read as follows: 
  
 “Adjusted Leverage Ratio” means, on any date, the ratio of (a) Total Debt as of such date after giving
effect to any Restricted Payments made on such date or anticipated to be made in connection with the calculation of the Adjusted Leverage Ratio on such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters of the
Borrower most recently ended, all determined on a consolidated basis in accordance with GAAP. 
  
 “Roll-O Sheets Acquisition” means the acquisition by the Borrower of all or substantially all the assets of Roll-O Sheets Canada Limited on August 15, 2002, for a cash purchase price not to exceed CD$2,500,000.

  
 SECTION 2. Amendment to Section 2.21. Section 2.21 of the Credit Agreement is hereby deleted in its
entirety. 
  
 SECTION 3. Amendment to Section 5.11. Section 5.11 of the Credit Agreement is hereby amended by
(i) deleting the words “(other than the Incremental Tranche B Term Loans)” after the text “proceeds of the Term Loans” in the first sentence of such section and (ii) deleting the sentence “The proceeds of the Incremental
Tranche B Term Loans will be used solely for Permitted Acquisitions” after the text “pursuant to the Debt Tender Offer” in the second sentence of such section. 
  
 SECTION 4. Amendment to Section 6.05. Section 6.05(i) of the Credit Agreement is hereby amended and restated in its entirety as follows: 
  
 (i)    investments in Joint Ventures and Unrestricted Subsidiaries (A) existing on November 6, 2002,
and set forth in Schedule 6.05(i)(A) and (B) in an aggregate amount, on a cumulative basis subsequent to November 6, 2002, not exceeding the sum of (x) $1,500,000 and (y) if the Leverage Ratio as of the last day of the most recently ended fiscal
quarter is less than 4.00 to 1.00, $3,500,000 (it being understood and agreed that no Default or Event of Default shall be deemed to have occurred solely due to an increase in the Leverage Ratio subsequent to the date of any investment made in
reliance on this clause (y)), provided that (A) if an Unrestricted Subsidiary is declared to be a Restricted Subsidiary, compliance with the foregoing limitations shall thereafter be determined as though such Subsidiary had never been an
Unrestricted Subsidiary, (B) for purposes of determining compliance with the foregoing limitations, any Guarantee by the Borrower or any Restricted Subsidiary of Indebtedness or other monetary obligations of a Joint Venture or Unrestricted
Subsidiary shall be deemed to constitute an investment therein in an amount equal to the Indebtedness or other monetary obligations so Guaranteed and (C) commencing on November 6, 2002, prior to making any investment pursuant 

  
 to clause (y) above, the Borrower shall have delivered to the Administrative
Agent an officer’s certificate certifying as to the Leverage Ratio on such date. 
  
 SECTION 5. Amendment to
Section 6.09. The table set forth in Section 6.09(a) of the Credit Agreement is hereby deleted and replaced in its entirety as follows: 
  
 
	 Year Ending
 December 31
 
	  	 Amount
 

	 2002
 	  	 $
 	 5,000,000
 
	 2003
 	  	 $
 	 5,000,000
 
	 2004 and each fiscal year thereafter
 	  	 $
 	 5,000,000
 

 
  
 provided that (x) commencing with fiscal year 2003, the
Adjusted Leverage Ratio is less than 5.00 to 1:00; and (y) commencing with fiscal year 2004, if the Adjusted Leverage Ratio is (A) less than 4.50 to 1.00, the Borrower may make Restricted Payments pursuant to this clause (iv) in an amount not to
exceed $10,000,000 in any fiscal year and (B) less than 4.00 to 1.00 the Borrower may make Restricted Payments pursuant to this clause (iv) in an amount not to exceed $18,000,000 in any fiscal year (it being understood and agreed that no Default or
Event of Default shall be deemed to have occurred solely due to an increase in the Adjusted Leverage Ratio subsequent to the date of any Restricted Payment made in reliance on this clause (y)), provided, further that commencing on November 6,
2002, prior to making any Restricted Payments pursuant to this clause (iv), the Borrower shall have delivered to the Administrative Agent an officer’s certificate certifying as to the Adjusted Leverage Ratio on the relevant date. 

 
 SECTION 6. Amendment to Section 6.13. Section 6.13(a) of the Credit Agreement is hereby amended and restated in its
entirety as follows: 
  
 (a) The Borrower will not make, and will not permit its Restricted
Subsidiaries to make, Capital Expenditures other than Capital Expenditures made by the Borrower and its Restricted Subsidiaries in any fiscal year of the Borrower in an aggregate amount not exceeding (i) $30,000,000 in fiscal years 2003 and 2004 and
(ii) $40,000,000 in each fiscal year thereafter (the “Permitted Amount”) plus, for each fiscal year commencing with fiscal year 2005, an amount equal to 50% of the excess, if any, of the Permitted Amount for the immediately
preceding fiscal year over the aggregate amount of Capital Expenditures made in the immediately preceding fiscal year. The foregoing limitations shall not apply to (x) expenditures with proceeds resulting from sales of assets or capital stock or
equity issuances or from casualty or condemnation events, in each case to the extent such expenditures are permitted under this Agreement and (y) Permitted Acquisitions. 

  
 SECTION 7. Amendment to Section 6.14. The table set forth in
Section 6.14 of the Credit Agreement is hereby amended and restated in its entirety as follows: 
  
 
	 Period
 
	  	 Ratio
 

	 July 1, 2002 through September 30, 2002
 	  	 5.50 to 1.00
 
	 October 1, 2002 through December 31, 2002
 	  	 6.10 to 1.00
 
	 January 1, 2003 through March 31, 2003
 	  	 6.10 to 1.00
 
	 April 1, 2003 through June 30, 2003
 	  	 6.00 to 1.00
 
	 July 1, 2003 through September 30, 2003
 	  	 5.50 to 1.00
 
	 October 1, 2003 through December 31, 2003
 	  	 5.50 to 1.00
 
	 January 1, 2004 through March 31, 2004
 	  	 4.75 to 1.00
 
	 April 1, 2004 through June 30, 2004
 	  	 4.75 to 1.00
 
	 July 1, 2004 through September 30, 2004
 	  	 4.50 to 1.00
 
	 October 1, 2004 through December 31, 2004
 	  	 4.50 to 1.00
 
	 January 1, 2005 and thereafter
 	  	 4.00 to 1.00
 

 
  
 SECTION 8. Amendment to Section 6.15. The table set forth in
Section 6.15 of the Credit Agreement is hereby amended and restated in its entirety as follows: 
  
 
	 Period
 
	  	 Ratio
 

	 July 1, 2002 through September 30, 2002
 	  	 1.75 to 1.00
 
	 October 1, 2002 through December 31, 2002
 	  	 1.60 to 1.00
 
	 January 1, 2003 through March 31, 2003
 	  	 1.60 to 1.00
 
	 April 1, 2003 through June 30, 2003
 	  	 1.65 to 1.00
 
	 July 1, 2003 through September 30, 2003
 	  	 1.70 to 1.00
 
	 October 1, 2003 through December 31, 2003
 	  	 1.75 to 1.00
 
	 January 1, 2004 through March 31, 2004
 	  	 1.75 to 1.00
 
	 April 1, 2004 through June 30, 2004
 	  	 1.90 to 1.00
 
	 July 1, 2004 through September 30, 2004
 	  	 1.90 to 1.00
 
	 October 1, 2004 through December 31, 2004
 	  	 2.00 to 1.00
 
	 January 1, 2005 and thereafter
 	  	 2.25 to 1.00
 

 
  
 SECTION 9. Representations and Warranties. Each Borrower
represents and warrants to the Administrative Agent and to each of the Lenders that: 
  
 (a)    This Amendment has been duly authorized, executed and delivered by it and constitutes a legal, valid and binding obligation of each Loan Party hereto, enforceable against such Loan Party in accordance with
its terms. 
  
 (b)    After giving effect to this Amendment, the representations
and warranties set forth in Article III of the Credit Agreement are true and correct in all material respects on and as of the date hereof with the same effect as if made on and as of the date hereof, except to the extent such representations and
warranties expressly relate to an earlier date. 
  
 (c)    After giving effect to
this Amendment, no Event of Default or Default has occurred and is continuing. 
  
 SECTION 10. Amendment Fee.
In consideration of the agreements of the Lenders contained in this Amendment, the Borrower agrees to pay to the Administrative Agent, for the account of each Lender that delivers an executed 

 counterpart of this Amendment prior to 5:00 p.m., New York City time, on November 6, 2002, an amendment fee (the
“Amendment Fee”) of 25 basis points on the aggregate amount of the Commitments and outstanding Loans of such Lender. 
  
 SECTION 11. Conditions to Effectiveness. This Amendment shall become effective as of September 30, 2002, when (a) the Administrative Agent shall have received (i) counterparts of this Amendment that, when taken
together, bear the signatures of the Borrowers and the Required Lenders and (ii) the Amendment Fee, (b) the representations and warranties set forth in Section 9 hereof are true and correct (as set forth on an officer’s certificate delivered to
the Administrative Agent) and (c) all fees and expenses required to be paid or reimbursed by the Borrowers pursuant hereto, the Credit Agreement or otherwise, including all invoiced fees and expenses of counsel to the Administrative Agent, shall
have been paid or reimbursed, as applicable. 
  
 SECTION 12. Credit Agreement. Except as specifically amended
hereby, the Credit Agreement shall continue in full force and effect in accordance with the provisions thereof as in existence on the date hereof. After the date hereof, any reference to the Credit Agreement shall mean the Credit Agreement as
amended hereby. This Amendment shall be a Loan Document for all purposes. 
  
 SECTION 13. Applicable
Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 SECTION 14. Counterparts. This Amendment may be executed in two or more counterparts, each of which shall constitute an original but all of which when taken together shall constitute but one agreement. Delivery of an executed
signature page to this Amendment by facsimile transmission shall be effective as delivery of a manually signed counterpart of this Amendment. 
  
 SECTION 15. Expenses. The Borrower agrees to reimburse the Administrative Agent for its out-of-pocket expenses in connection with this Amendment, including the reasonable fees, charges and
disbursements of Cravath, Swaine & Moore, counsel for the Administrative Agent. 
  
 SECTION 16. Headings.
The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof. 

  
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their respective authorized officers as of the day and year first written above. 
  
 
	 PLIANT CORPORATION,
 formerly known as Huntsman
Packaging Corporation,
 
	 
	 By:
 	 	 /S/    BRIAN E.
JOHNSON      
 

	  	 	 Name:    Brian E. Johnson
 Title:    Executive V.P. and CFO
 

 
 
	 
	 ASPEN INDUSTRIAL, S.A. DE C.V.,
 
	 
	 By:
 	 	 /S/    BRIAN E.
JOHNSON      
 

	  	 	 Name:    Brian E. Johnson
 Title:    Executive V.P. and Treasurer
 

 
  
 
	 
	 DEUTSCHE BANK TRUST COMPANY
AMERICAS,
 formerly known as Bankers Trust Company, individually and as Administrative Agent,
 
	 
	 By:
 	 	 /S/    MARCO ORLANDO
 

	  	 	 Name:    Marco Orlando
 Title:    Director
 

 
 
	 
	 JPMORGAN CHASE BANK,
 formerly
known as The Chase Manhattan Bank,
 as Syndication Agent,
 
	 
	 By:
 	 	 /S/    PETER A. DEDOUSIS
 

	  	 	 Name:    Peter A. Dedousis
 Title:    Managing Director
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 JPMORGAN CHASE BANK
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    PETER A.
DEDOUSIS        
 

	  	 	  	 	  	 	  	 	 Name: Peter A. Dedousis
 
	  	 	  	 	  	 	  	 	 Title: Managing Director
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 THE BANK OF NOVA
SCOTIA
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    N. BELL        
 

	  	 	  	 	  	 	  	 	 Name: N. Bell
 
	  	 	  	 	  	 	  	 	 Title: Senior Manager
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 DEUTSCHE BANK TRUST COMPANY
AMERICAS
 
	 
	  	 	  	 	 By:
 	 	 /S/    M.A. ORLANDO        

	  	 	  	 	  	 	  	 	 Name: Marco Orlando
 
	  	 	  	 	  	 	  	 	 Title: Director
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 CREDIT INDUSTRIEL ET COMMERCIAL

	 
	  	 	  	 	  	 	 By:
 	 	 /S/    SEAN
MOUNIER        
 

	  	 	  	 	  	 	  	 	 Name: Sean Mounier
 
	  	 	  	 	  	 	  	 	 Title: First Vice President
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    BRIAN
O’LEARY        
 

	  	 	  	 	  	 	  	 	 Name: Brian O’Leary
 
	  	 	  	 	  	 	  	 	 Title: Vice President
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 WELLS FARGO BANK, N.A. 
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    TYLER G.
HARVEY        
 

	  	 	  	 	  	 	  	 	 Name: Tyler G. Harvey
 
	  	 	  	 	  	 	  	 	 Title: V.P.
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 U.S. BANK NATIONAL ASSOCIATION
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    SCOTT J.
BELL        
 

	  	 	  	 	  	 	  	 	 Name: Scott J. Bell
 Title:
Vice President
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 THE BANK OF NEW YORK

	 
	  	 	  	 	  	 	 By:
 	 	 /S/    MARK D.
WRIGLEY        
 

	  	 	  	 	  	 	  	 	 Name: Mark D. Wrigley
 Title:
Vice President
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 BANK ONE, NA
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    MARK F.
NELSON        
 

	  	 	  	 	  	 	  	 	 Name: Mark F. Nelson
 Title:
Vice President
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 WACHOVIA BANK, N.A.
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    MEG
BEVERIDGE        
 

	  	 	  	 	  	 	  	 	 Name: Meg Beveridge
 Title:
Vice President
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 NATIONAL CITY BANK
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    ANDREW J.
PERNSTEINER        
 

	  	 	  	 	  	 	  	 	 Name: Andrew J. Pernsteiner
 Title: Account Officer
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 OAK HILL SECURITIES FUND, L.P.

	 
	  	 	  	 	  	 	 By:
 	 	 Oak Hill Securities GenPar, L.P. its General Partner
 
	 
	  	 	  	 	  	 	 By:
 	 	 Oak Hill Securities MGP, Inc., its General Partner
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    SCOTT D.
KRASE        
 

	  	 	  	 	  	 	  	 	 Name: Scott D. Krase
 Title:
Vice President
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 THE MITSUBISHI TRUST AND BANKING
CORPORATION
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    YASUSHI ISHIKAWA
        
 

	  	 	  	 	  	 	  	 	 Name:Yasushi Ishikawa
 Title:
Senior Vice President
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 NATEXIS BANQUES POPULAIRES
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    FRANK H. MADDEN, JR.
        
 

	  	 	  	 	  	 	  	 	 Name: Frank H. Madden, Jr.
 Title: Vice President & Group Manager
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    CHRISTIAN GIORDANO
        
 

	  	 	  	 	  	 	  	 	 Name: Christian Giordano
 Title: Vice President
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 ERSTE BANK
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    BRANDON A.
MEYERSON        
 

	  	 	  	 	  	 	  	 	 Name:    Brandon A. Meyerson
 Title:    Vice President
 Erste Bank New York Branch
 
	  	 	  	 	  
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    JOHN S.
RUNNION        
 

	  	 	  	 	  	 	  	 	 Name:    John S. Runnion
 Title:    Managing Director
 Erste Bank New York Branch
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 MIZUHO CORPORATE BANK, LTD.
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    MASAHITO
FUKUDA        
 

	  	 	  	 	  	 	  	 	 Name:    Masahito Fukuda
 Title:    Senior Vice President & Group Head
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name Of Institution
 	 	  	 	 ZIONS FIRST NATIONAL BANK
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    JIM C.
STANCHFIELD        
 

	  	 	  	 	  	 	  	 	 Name: Jim C. Stanchfield
 Title: Vice President
 

 
  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 OAK HILL CREDIT PARTNERS I,
LIMITED,
 
	 
	  	 	  	 	  	 	 By:
 	 	 OAK HILL CLO MANAGEMENT I,
LLC,        
 as Investment Manager
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    SCOTT D.
KRASE        
 

	  	 	  	 	  	 	  	 	 Name: Scott D. Krase
 Title:
Authorized Signatory
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 FIRSTRUST BANK
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    BRYAN T.
DENNEY        
 

	  	 	  	 	  	 	  	 	 Name: Bryan T. Denney
 Title:
Vice President
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 WEBSTER BANK
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    JOHN
GILSENAN        
 

	  	 	  	 	  	 	  	 	 Name: John Gilsenan
 Title:
Vice President
 

 
  

	

	

  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 IKB DEUTSCHE INDUSTRIEBANK AG
 Luxembourg Branch
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    STEPHEN
JESSETT        
 

	  	 	  	 	  	 	  	 	 Name: Stephen Jessett
 Title:
Director
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/                                   
     
 

	  	 	  	 	  	 	  	 	 Name: Dr. Frank Schaum
 Title:
Head of Structured Finance
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 AIMCO CDO SERIES 2000-A
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    CHRIS
GOERGEn      
 
Name:    Chris
Goergen
 Title:    Authorized Signatory
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    JERRY D. ZINKULa  
 
Name:    Jerry D. Zinkula
 Title:    Authorized Signatory
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 AIMCO CLO SERIES 2001-A
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    CHRIS
GOERGEN        
 
Chris
Goergen        
 
	  	 	  	 	  	 	  	 	 Title: Authorized Signatory
 

 
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    JERRY D.
ZINKULA              
 

	  	 	  	 	  	 	  	 	 Name: Jerry D. Zinkula
 Title:
Authorized Signatory
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To
Approve the Amendment: 
  
 
	 Name of Institution
 	 	 ALLSTATE LIFE INSURANCE COMPANY

	 
	  	 	  	 	 By:
 	 	 /S/    CHRIS
GOERGEN        
 
Name: Chris Goergen

Title: Authorized Signatory
 
	 
	  	 	  	 	 By:
 	 	 /S/    JERRY D.
ZINKULA        
 
Name: Jerry D.
Zinkula
 Title: Authorized Signatory
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	 CENTURION CDO II, LTD.
 
	 
	  	 	  	 	 By:
 	 	 American Express Asset Management Group Inc.
as Collateral Manager
 
	 
	  	 	  	 	 By:
 	 	 /S/    STEVEN B.
STAVER         
 
Name:    Steven B.
Staver
 Title:    Managing Director
 

 
  
  
  
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 CENTURION CDO VI, LTD.,
 
	 
	  	 	  	 	  	 	 By:
 	 	 American Express Asset Management Group Inc.
 as Collateral Manager
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    STEVEN B.
STAVER        
 

	  	 	  	 	  	 	  	 	 Name:    Steven B. Staver
 Title: Managing Director
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 KZH CYPRESSTREE-1 LLC
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    JOYCE
FRASER-BRYANT        
 

	  	 	  	 	  	 	  	 	 Name:    Joyce Fraser-Bryant
 Title:    Authorized Agent
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 KZH ING-2 LLC 
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    JOYCE
FRASER-BRYANT        
 

	  	 	  	 	  	 	  	 	 Name: Joyce Fraser-Bryant
 Title: Authorized Agent
  
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 KZH STERLING LLC
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    JOYCE
FRASER-BRYANT        
 

	  	 	  	 	  	 	  	 	 Name: Joyce Fraser-Bryant
 Title: Authorized Agent
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 SEQUILS-CENTURION V. LTD.
 
	 
	  	 	  	 	  	 	 By:
 	 	 American Express Asset Management Group Inc.
as Collateral Manager
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    STEVEN B.
STAVER        
 

	  	 	  	 	  	 	  	 	 Name: Steven B. Staver
 Title:
Managing Director
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 SANKATY ADVISORS, LLC, as Collateral Manager for Castle Hill I—Ingots,
Ltd., as Term Lender
 
	 
	  	 	  	 	  	 	 By:  
 	 	 /S/    DIANE J.
EXTER        
 
	 	 	 	 	 	 	 	
	

	  	 	  	 	  	 	  	 	 Name: Diane J. Exter
 Title:
Managing Director
 Portfolio Manager
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 SANKATY ADVISORS, LLC, as Collateral Manager for Castle Hill II—Ingots,
Ltd., as Term Lender
 
	 
	  	 	  	 	  	 	 By:  
 	 	 /S/    DIANE J.
EXTER        
 
	 	 	 	 	 	 	 	
	

	  	 	  	 	  	 	  	 	 Name: Diane J. Exter
 Title:
Managing Director
 Portfolio Manager
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 SANKATY ADVISORS, LLC, as Collateral Manager for Great Point CLO 1999-1 Ltd.,
as Term Lender
 
	 
	  	 	  	 	  	 	 By:  
 	 	 /S/    DIANE J.
EXTER        
 
	 	 	 	 	 	 	 	
	

	  	 	  	 	  	 	  	 	 Name: Diane J. Exter
 Title:
Managing Director
 Portfolio Manager
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 HARBOUR TOWN FUNDING TRUST
 
	 
	  	 	  	 	  	 	 By:  
 	 	 /S/    ANN E.
MORRIS        
 
	 	 	 	 	 	 	 	
	

	  	 	  	 	  	 	  	 	 Name: Ann E. Morris
 Title:
Authorized Agent
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 HARBOUR TOWN FUNDING LLC
 
	 
	  	 	  	 	  	 	 By:  
 	 	 /S/    ANN E.
MORRIS        
 
	 	 	 	 	 	 	 	
	

	  	 	  	 	  	 	  	 	 Name: Ann E. Morris
 Title:
Asst. Vice President
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 SANKATY ADVISORS, LLC, as Collateral Manager for Race Point CLO, Limited, as
Term Lender Company Name
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    DIANE J.
EXTER        
 

	  	 	  	 	  	 	  	 	 Name: Diane J. Exter
 
	  	 	  	 	  	 	  	 	 Title: Managing Director
 
	  	 	  	 	  	 	  	 	 Portfolio Manager
 

 
  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 SANKATY ADVISORS, LLC, as Collateral Manager for Brant Point II CBO 2000-1
LTD, as Term Lender
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    DIANE J.
EXTER        
 

	  	 	  	 	  	 	  	 	 Name: Diane J. Exter
 
	  	 	  	 	  	 	  	 	 Title: Managing Director
 
	  	 	  	 	  	 	  	 	 Portfolio Manager
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 SANKATY HIGH YIELD PARTNERS III, L.P.

 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    DIANE J.
EXTER        
 

	  	 	  	 	  	 	  	 	 Name: Diane J. Exter
 
	  	 	  	 	  	 	  	 	 Title: Managing Director
 
	  	 	  	 	  	 	  	 	 Portfolio Manager
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 CARLYLE HIGH YIELD PARTNERS II,
LTD., 
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    LINDA PACE        

	  	 	  	 	  	 	  	 	 Name: Linda Pace
 
	  	 	  	 	  	 	  	 	 Title: Principal
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 CARLYLE HIGH YIELD PARTNERS IV, LTD.,

 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    LINDA PACE        

	  	 	  	 	  	 	  	 	 Name: Linda Pace
 
	  	 	  	 	  	 	  	 	 Title: Principal
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 SIERRA CLO I, 
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    JOHN M.
CASPARIAN        
 

	  	 	  	 	  	 	  	 	 Name: John M. Casparian
 
	  	 	  	 	  	 	  	 	 Title: Chief Operating Officer
 
	  	 	  	 	  	 	  	 	 Centre Pacific LLP (Manager)
 

 
  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 WINGED FOOT FUNDING TRUST, 
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    ANN E.
MORRIS        
 

	  	 	  	 	  	 	  	 	 Name: Ann E. Morris
 
	  	 	  	 	  	 	  	 	 Title: Authorized Agent
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 LCM I LIMITED PARTNERSHIP, 
 
	 
	  	 	  	 	  	 	 By:
 	 	 Lyon Capital Management LLC, as Attorney-in-Fact
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    FARBOUD
TAVANGAR        
 

	  	 	  	 	  	 	  	 	 Name: Farboud Tavangar
 
	  	 	  	 	  	 	  	 	 Title: Senior Portfolio Manager
 

 
  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 CYPRESSTREE INVESTMENT MANAGEMENT COMPANY,
INC., 
 
	 
	  	 	  	 	  	 	 As:
 	 	 Attorney-in-Fact and on behalf of First Allmerica Financial Life Insurance Company as Portfolio Manager
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    MICHAEL
ASHTON        
 

	  	 	  	 	  	 	  	 	 Name: Michael Ashton
 
	  	 	  	 	  	 	  	 	 Title: Principal
 

 
  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 CYPRESSTREE INVESTMENT PARTNERS I, LTD.

 
	 
	  	 	  	 	  	 	 By:
 	 	 CypressTree Investment Management Company, Inc., as Portfolio Manager
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    MICHAEL
ASHTON        
 

	  	 	  	 	  	 	  	 	 Name: Michael Ashton
 
	  	 	  	 	  	 	  	 	 Title: Principal
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 BRYN MAWR CLO, LTD.,
 
	 
	  	 	  	 	  	 	 By:
 	 	 Deerfield Capital Management LLC, as its

 
	  	 	  	 	  	 	  	 	 Collateral Manager
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    MARK E.
WITTNEBEL        
 

	  	 	  	 	  	 	  	 	 Name: Mark E. Wittnebel
 Title:
Senior Vice President
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 ROSEMONT CLO, LTD.,
 
	 
	  	 	  	 	  	 	 By:
 	 	 Deerfield Capital Management LLC, as its

 
	  	 	  	 	  	 	  	 	 Collateral Manager
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    MARK E.
WITTNEBEL        
 

	  	 	  	 	  	 	 Name: Mark E. Wittnebel
 Title: Senior Vice President
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 MUIRFIELD TRADING LLC,
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    ANN E.
MORRIS        
 

	  	 	  	 	  	 	  	 	 Name: Ann E. Morris
 Title:
Assistant Vice President
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 OLYMPIC FUNDING TRUST, SERIES
1999-1,
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    ANN E.
MORRIS        
 

	  	 	  	 	  	 	  	 	 Name: Ann E. Morris
 Title:
Authorized Agent
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 4, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 SEQUILS-CUMBERLAND I, LTD.,
 
	 
	  	 	  	 	  	 	 By:
 	 	 Deerfield Capital Management LLC as its Collateral
 
	  	 	  	 	  	 	  	 	 Manager
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    MARK E.
WITTNEBEL        
 

	  	 	  	 	  	 	  	 	 Name: Mark E. Wittnebel
 Title:
Senior Vice President
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 FLAGSHIP CLO II,
 
	  	 	  	 	 By: Flagship Capital Management
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    MARK S.
PELLETIER        
 

	  	 	  	 	  	 	  	 	 Name: Mark S. Pelletier
 Title:
Director
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 HELLER FINANCIAL, INC.
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    ROBERT M.
KADLICK        
 

	  	 	  	 	  	 	  	 	 Name:    Robert M. Kadlick
 Title:    Duly Authorized Signatory
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 PROMETHEUS INVESTMENT FUNDING NO. 1
LTD.,
 
	 
	  	 	  	 	  	 	 By:
 	 	 HVB Credit Advisors LLC
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    THOMAS L.
MOWAT        
 

	  	 	  	 	  	 	  	 	 Name:    Thomas L. Mowat
 Title:    Director
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    ELIZABETH
TALLMADGE        
 

	  	 	  	 	  	 	  	 	 Name:    Elizabeth Tallmadge
 Title:    Managing Director
 Chief Investment Officer
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	 SMOKY RIVER CDO, L.P.,
 
	 
	  	 	  	 	 By:
 	 	 RBC Leveraged Capital as Portfolio Advisor
 
	 
	  	 	  	 	 By:
 	 	 /S/    MELISSA
MARANO         
 
Name:    Melissa
Marano
 Title:     Director
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	 ARCHIMEDES FUNDING II, LTD.,
 
	 
	  	 	  	 	 By:
 	 	 ING CAPITAL ADVISORS LLC,
as Collateral Manager
 
	 
	  	 	  	 	 By:
 	 	 /S/    GORDON
COOK         
 
Name:    Gordon
Cook
 Title:    Senior Vice President & Portfolio Manager
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	 ING-ORYX CLO, LTD.
 
	 
	  	 	  	 	 By:
 	 	 ING CAPITAL ADVISORS LLC,
as Collateral Manager
 
	 
	  	 	  	 	 By:
 	 	 /S/    GORDON
COOK         
 
Name:    Gordon
Cook
 Title:    Senior Vice President & Portfolio Manager
 

 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 BALANCED HIGH-YIELD FUND I, LTD.,

 
	 
	  	 	  	 	  	 	 By:
 	 	 ING CAPITAL ADVISORS LLC, as Asset Manager
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    GORDON COOK        

	  	 	  	 	  	 	  	 	 Name:    Gordon Cook
 
	  	 	  	 	  	 	  	 	 Title:    Senior Vice President & Portfolio Manager
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 KATONAH I, LTD.,
 
	 
	  	 	  	 	  	 	 By:  
 	 	 /S/    RALPH DELLA
ROCCA        
 
	 	 	 	 	 	 	 	
	

	  	 	  	 	  	 	  	 	 Name:    Ralph Della Rocca
 Title:    Authorized Officer
 Katonah Capital, L.L.C.
 as Manager
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 KATONAH III, LTD.,
 
	 
	  	 	  	 	  	 	 By:  
 	 	 /S/    RALPH DELLA
ROCCA        
 
	 	 	 	 	 	 	 	
	

	  	 	  	 	  	 	  	 	 Name: Ralph Della Rocca
 Title:
Authorized Officer
 Katonah Capital, L.L.C.
 as
Manager
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 MAPLEWOOD (CAYMAN) LIMITED,
 
	 
	  	 	  	 	 By:   David L. Babson & Company Inc., under delegated
         authority from Massachusetts Mutual Life Insurance
         Company as Investment Manager
 
	 
	  	 	  	 	  	 	 By:  
 	 	 /S/    GLENN
DUFFY        
 
	 	 	 	 	 	 	 	
	

	  	 	  	 	  	 	  	 	 Name: Glenn Duffy
 Title:
Managing Director
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 MASSACHUSETTS MUTUAL LIFE INSURANCE
 COMPANY,
 
	 
	  	 	  	 	  	 	 By:
 	 	 David L. Babson & Company Inc.,
 
	  	 	  	 	  	 	  	 	 as Investment Adviser
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    Glenn Duffy
 

	  	 	  	 	  	 	  	 	 Name: Glenn Duffy
 Title:
Managing Director
 

 
  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 METROPOLITAN LIFE INSURANCE COMPANY,

 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    JAMES R.
DINGLER        
 

	  	 	  	 	  	 	  	 	 Name:    James R. Dingler
 
	  	 	  	 	  	 	  	 	 Title:    Director
 

 
  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 MONY CAPITAL MANAGEMENT INC.,
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    LEONARD
MAZLISH        
 

	  	 	  	 	  	 	  	 	 Name:    Leonard Mazlish
 
	  	 	  	 	  	 	  	 	 Title:    Senior Managing Director
 

 
  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 MORGAN STANLEY PRIME INCOME
TRUST, 
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    SHEILA A.
FINNERTY        
 

	  	 	  	 	  	 	  	 	 Name:    Sheila A. Finnerty
 
	  	 	  	 	  	 	  	 	 Title:    Executive Director
 

 
  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 NOMURA BOND & LOAN FUND, 
 
	 
	  	 	  	 	  	 	 By:
 	 	 UFJ TRUST COMPANY OF NEW YORK, as Trustee
 
	 
	  	 	  	 	  	 	 By:
 	 	 NOMURA CORPORATE RESEARCH AND ASSET MANAGEMENT INC.
 Attorney-in-Fact
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    ELIZABETH MACLEAN
        
 

	  	 	  	 	  	 	  	 	 Name:    Elizabeth MacLean
 
	  	 	  	 	  	 	  	 	 Title:    Vice President
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 CLYDESDALE CLO 2001-1, LTD.,
 
	 
	  	 	  	 	  	 	 By:
 	 	 NOMURA CORPORATE RESEARCH AND ASSET MANAGEMENT INC.,
 as Collateral Manager

	 
	  	 	  	 	  	 	 By:
 	 	 /S/    ELIZABETH
MACLEAN        
 
Name: Elizabeth
MacLean
 Title: Vice President
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 OAK HILL SECURITIES FUND II, L.P.

	 
	  	 	  	 	  	 	 By:
 

 	 	 Oak Hill Securities GenPar II, L.P.
its General Partner
  
 
	  	 	  	 	  	 	 By:
 

 	 	 Oak Hill Securities MGP II, Inc.,
its General Partner
  
 
	  	 	  	 	  	 	 By:
 	 	 /S/    SCOTT D.
KRASE        
 
Name:    Scott D.
Krase
 Title:    Vice President
 

 
  
  
  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
  
 
	 Name of Institution
 	 	  	 	 OCTAGON INVESTMENT PARTNERS II, LLC,
 
	 
	  	 	  	 	  	 	 By:
 	 	 Octagon Credit Investors, LLC as sub-investment
 manager
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    MICHAEL B.
NECHAMKIN
 

	  	 	  	 	  	 	  	 	 Name: Michael B. Nechamkin
 
	  	 	  	 	  	 	  	 	 Title: Portfolio Manager
 

 
  
  
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	 OCTAGON INVESTMENT PARTNERS III, LTD.,
 
	 
	  	 	  	 	 By:
 	 	 OCTAGON CREDIT INVESTORS, LLC, as Portfolio Manager
 
	 
	  	 	  	 	 By:
 	 	 /S/    MICHAEL B.
NECHAMKIN
 
Name:    Michael B. Nechamkin
 Title:     Portfolio Manager
 

 
  
  
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 OCTAGON INVESTMENT PARTNERS IV, LTD.,
 
	 
	  	 	  	 	  	 	 By:
 

 	 	 OCTAGON CREDIT INVESTORS, LLC,
 as Collateral Manager
  
 
	  	 	  	 	  	 	 By:
 	 	 /S/    MICHAEL B.
NECHAMKIN        
 
Name:    
Michael B. Nechamkin
 Title:    Portfolio Manager
 

 
  
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 OCTAGON INVESTMENT PARTNERS IV, LTD.,
 
	 
	  	 	  	 	  	 	 By:
 

 	 	 OCTAGON CREDIT INVESTORS, LLC,
 as Portfolio Manager
  
 
	  	 	  	 	  	 	 By:
 	 	 /S/    MICHAEL B.
NECHAMKIN        
 
Name:    
Michael B. Nechamkin
 Title:    Portfolio Manager
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 PILGRIM CLO 1999-1 LTD.,
 
	 
	  	 	  	 	  	 	 By:
 

 	 	 ING INVESTMENTS, LLC,
 as its Investment Manager
  
 
	  	 	  	 	  	 	 By:
 	 	 /S/    CHARLES E.
LEMIEUX        
 
Name:    Charles E. LeMieux, CFA
 Title:    Vice President
 

 
  
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 ML CLO XII PILGRIM AMERICA (CAYMAN)
LTD,
 
	 
	  	 	  	 	  	 	 By:
 

 	 	 ING INVESTMENTS, LLC,
 as its Investment Manager
  
 
	  	 	  	 	  	 	 By:
 	 	 /S/    CHARLES E.
LEMIEUX        
 
Name:    Charles E. LeMieux, CFA
 Title:    Vice President
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	 ING PRIME RATE TRUST,
 
	 
	  	 	  	 	 By:
 	 	 ING INVESTMENTS, LLC,
as its Investment Manager
 
	 
	  	 	  	 	 By:
 	 	 /S/    CHARLES E.
LEMIEUX         
 
Name:    Charles E. LeMieux, CFA
 Title:    Vice President
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	 STANFIELD CLO, LTD.,
 
	 
	  	 	  	 	 By:
 	 	 STANFIELD CAPITAL PARTNERS LLC,
as its Collateral Manager
 
	 
	  	 	  	 	 By:
 	 	 /S/    CHRISTOPHER A.
BONDY         
 
Name:    Christopher A. Bondy
 Title:    Partner
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	 WINDSOR LOAN FUNDING, LIMITED,
 
	 
	  	 	  	 	 By:
 	 	 STANFIELD CAPITAL PARTNERS LLC,
as its Investment Manager
 
	 
	  	 	  	 	 By:
 	 	 /S/    CHRISTOPHER A.
BONDY         
 
Name:    Christopher A. Bondy
 Title:    Partner
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	 STANFIELD ARBITRAGE CDO, LTD.,
 
	 
	  	 	  	 	 By:
 	 	 STANFIELD CAPITAL PARTNERS LLC,
as its Collateral Manager
 
	 
	  	 	  	 	 By:
 	 	 /S/    CHRISTOPHER A.
BONDY         
 
Name:    Christopher A. Bondy
 Title:    Partner
 

 
  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 STANFIELD CARRERA CLO, LTD.,
 
	 
	  	 	  	 	  	 	 By:
 

 	 	 STANFIELD CAPITAL PARTNERS LLC,
 as its Interim Asset Manager
  
 
	  	 	  	 	  	 	 By:
 	 	 /S/    CHRISTOPHER A.
BONDY        
 
Name:    
Christopher A. Bondy
 Title:    Partner
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 STANFIELD QUATTRO CLO, LTD.,
 
	 
	  	 	  	 	  	 	 By:
 

 	 	 STANFIELD CAPITAL PARTNERS LLC,
 as its Collateral Manager
  
 
	  	 	  	 	  	 	 By:
 	 	 /S/    CHRISTOPHER A.
BONDY        
 
Name:    Christopher
A. Bondy
 Title:    Partner
 

 
  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 HAMILTON CDO, LTD.,
 
	 
	  	 	  	 	  	 	 By:
 

 	 	 STANFIELD CAPITAL PARTNERS LLC,
 as its Collateral Manager
  
 
	  	 	  	 	  	 	 By:
 	 	 /S/    CHRISTOPHER A.
BONDY        
 
Name:    Christopher
A. Bondy
 Title:    Partner
 

 
  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 SUNAMERICA SENIOR FLOATING RATE
FUND INC.,
 
	 
	  	 	  	 	  	 	 By:
 

 	 	 STANFIELD CAPITAL PARTNERS LLC,
 as Subadvisor
  
 
	  	 	  	 	  	 	 By:
 	 	 /S/    CHRISTOPHER A.
BONDY        
 
Name:    Christopher
A. Bondy
 Title:    Partner
 

 
  

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 AURUM CLO 2002-1 LTD.,
 
	 
	  	 	  	 	  	 	 by:
 	 	 STEIN ROE & FARNHAM INCORPORATED,
 
	  	 	  	 	  	 	  	 	 as Investment Manager
 
	 
	  	 	  	 	  	 	 by:
 	 	     /S/    JAMES
R. FELLOWS        
 

	  	 	  	 	  	 	  	 	 Name:    James R. Fellows
 
	  	 	  	 	  	 	  	 	 Title:    Sr. Vice President & Portfolio
 
	  	 	  	 	  	 	  	 	 Manager
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 LIBERTY FLOATING RATE ADVANTAGE
FUND,
 
	 
	  	 	  	 	  	 	 By:
 	 	 STEIN ROE & FARNHAM INCORPORATED,
 as Advisor
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    JAMES R.
FELLOWS      
 
Name:    James R.
Fellows
 Title:    Sr. Vice President & Portfolio
 Manager
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
  
 
	 To Approve the Amendment:
 	 	  	 	 GALAXY CLO 1999-1 LTD.,
 
	 
	 Name of Institution
 	 	  	 	 By:
 	 	 /S/    W. JEFFREY BAXTER
        
 

	  	 	  	 	  	 	  	 	 Name:    W. Jeffrey Baxter
 Title:    Authorized Agent
 

 
  

	

  

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 
	 To Approve the Amendment:
 	 	  	 	  
	 
	 Name of Institution
 	 	  	 	 KZH SOLEIL LLC
 
	 
	  	 	  	 	  	 	 By:
 	 	 /s/    Joyce Fraser-Bryant        
 

	  	 	  	 	  	 	  	 	 Name:    Joyce Fraser-Bryant
 Title:    Authorized Agent
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 
	 To Approve the Amendment:
 	 	  	 	  
	 
	 Name of Institution
 	 	  	 	 KZH SOLEIL-2 LLC
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    JOYCE
FRASER-BRYANT        
 

	  	 	  	 	  	 	  	 	 Name:    Joyce Fraser-Bryant
 Title:    Authorized Agent
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 VAN KAMPEN CLO I, LIMITED,
 
	 
	  	 	  	 	  	 	 By:
 	 	 Van Kampen Investment Advisory Corp.,
 as Collateral Manager
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    SEAN B.
KELLEY        
 
Name:    Sean B.
Kelley
 Title:    Vice President
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 VAN KAMPEN CLO II, LIMITED,
 
	 
	  	 	  	 	  	 	 By:
 	 	 Van Kampen Investment Advisory Corp.,
 as Collateral Manager
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    SEAN B. KELLEY    
 
Name:    Sean B. Kelley
 Title:    Vice President
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 VAN KAMPEN PRIME RATE INCOME
TRUST,
 
	 
	  	 	  	 	  	 	 By:
 	 	 Van Kampen Investment Advisory Corp.
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    CHRISTINA
JAMIESON        
 
Name:    Christina Jamieson
 Title:    Vice President
 

 

 SIGNATURE PAGE TO 
 AMENDMENT,
DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 VAN KAMPEN SENIOR FLOATING RATE
FUND,
 
	 
	  	 	  	 	  	 	 By:
 	 	 Van Kampen Investment Advisory Corp.
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    DARVIN D. PIERCE
 
Name:    Darvin D. Pierce
 Title:    Executive Director
 

 

  
 SIGNATURE PAGE TO 
 AMENDMENT, DATED AS OF 
 NOVEMBER 6, 2002 
  
 To Approve the Amendment: 
  
 
	 Name of Institution
 	 	  	 	 VAN KAMPEN SENIOR INCOME
TRUST,
 
	 
	  	 	  	 	  	 	 By:
 	 	 Van Kampen Investment Advisory Corp.
 
	 
	  	 	  	 	  	 	 By:
 	 	 /S/    CHRISTINA
JAMIESON        
 
Name:    Christina Jamieson
 Title:    Vice President
 

 

 SCHEDULE 6.05(i)(A) 
  
 PLIANT CORPORATION 
  
 CREDIT AGREEMENT 
  

Amendment No. 4 
 November 6, 2002 
  

Section 6.05(i)(A) investments in Joint Ventures and Unrestricted Subsidiaries 
  
 
	 Pliant Investment, Inc.
 	  	 $
 	 5,300,0001
 
	 Alliant Company, LLC
 	  	 $
 	 375,0002
 

 
 
 
 1Investment in Pliant Investment , Inc. by Pliant Corporation. 
  
 2 Investment in Alliant Company, LLC by Pliant Investment, Inc., an Unrestricted Subsidiary.<PAGE>

                                                                  Exhibit 10.8.8

           Arthur J. Gallagher & Co. and AJG Financial Services, Inc.
                      Eighth Amendment to Credit Agreement

Harris Trust and Savings Bank                  Citibank, N.A.
Chicago, Illinois                              New York, New York

Bank of America, N.A.                          LaSalle Bank National Association
Chicago, Illinois                              Chicago, Illinois

The Northern Trust Company
Chicago, Illinois

Ladies and Gentlemen:

     This Eighth Amendment to Credit Agreement dated as of August 29 , 2002
(herein, the "Amendment"), is entered into by and between the undersigned,
Arthur J. Gallagher & Co, a Delaware corporation ("Gallagher"), AJG Financial
Services, Inc., a Delaware corporation ("AJG"; Gallagher and AJG being referred
to herein collectively as the "Borrowers" and individually as a "Borrower"),
Citibank, N.A., Bank of America, N.A., LaSalle Bank National Association, The
Northern Trust Company and Harris Trust and Savings Bank, individually and as
Agent (the "Agent"). Reference is hereby made to that certain Credit Agreement
dated as of September 11, 2000, as amended, between the Borrowers, the Banks and
the Agent (the "Credit Agreement"). All capitalized terms used herein without
definition shall have the same meanings herein as such terms have in the Credit
Agreement.

     The Borrowers desire to extend the Short-Term Revolving Credit Termination
Date and the Banks are willing to do so under the terms and conditions set forth
in this Amendment.

Section 1. Amendments.

     Subject to the satisfaction of the conditions precedent set forth in
Section 2 below, the definition of the term "Short-Term Revolving Credit
Termination Date" appearing in Section 6.1 of the Credit Agreement shall be
amended and restated in its entirety to read as follows:

          ""Short-Term Revolving Credit Termination Date" means September 7,
          2003, subject to any extension of such date pursuant to Section 5.2(b)
          hereof."

Section 2. Conditions Precedent.

     The effectiveness of this Amendment is subject to the satisfaction of all
of the following conditions precedent:

<PAGE>

     2.1. The Borrowers and the Banks shall have executed and delivered this
Amendment.

     2.2. Legal matters incident to the execution and delivery of this Amendment
shall be satisfactory to the Agent and its counsel.

Section 3. Representations.

     In order to induce the Agent and the Banks to execute and deliver this
Amendment, the Borrowers hereby represent to the Agent and the Banks that as of
the date hereof the representations and warranties set forth in Section 7 of the
Credit Agreement are and shall be and remain true and correct (except that the
representations contained in Section 7.5 shall be deemed to refer to the most
recent financial statements of the Borrowers delivered to the Agent and the
Banks) and the Borrowers are in compliance with the terms and conditions of the
Credit Agreement and no Default or Event of Default has occurred and is
continuing under the Credit Agreement or shall result after giving effect to
this Amendment.

Section 4. Miscellaneous.

     4.1. Except as specifically amended herein, the Credit Agreement shall
continue in full force and effect in accordance with its original terms.
Reference to this specific Amendment need not be made in the Credit Agreement,
the Notes, or any other instrument or document executed in connection therewith,
or in any certificate, letter or communication issued or made pursuant to or
with respect to the Credit Agreement, any reference in any of such items to the
Credit Agreement being sufficient to refer to the Credit Agreement as amended
hereby.

     4.2. The Borrowers agree to pay on demand all costs and expenses of or
incurred by the Agent in connection with the negotiation, preparation, execution
and delivery of this Amendment, including the fees and expenses of counsel for
the Agent.

     4.3. This Amendment may be executed in any number of counterparts, and by
the different parties on different counterpart signature pages, all of which
taken together shall constitute one and the same agreement. Any of the parties
hereto may execute this Amendment by signing any such counterpart and each of
such counterparts shall for all purposes be deemed to be an original. This
Amendment shall be governed by the internal laws of the State of Illinois.

                                      -2-

<PAGE>

     This Eighth Amendment to Credit Agreement is entered into as of the date
and year first above written.

                                               Arthur J. Gallagher & Co.

                                               By /s/ Jack H. Lazzaro
                                                 -------------------------------
                                                  Name: Jack H. Lazzaro
                                                  Title: V.P. and Treasurer

                                               AJG Financial Services, Inc.

                                               By /s/ Jack H. Lazzaro
                                                 -------------------------------
                                                  Name: Jack H. Lazzaro
                                                  Title: CFO

                                      -3-

<PAGE>

Accepted and agreed to.

                                               Harris Trust and Savings Bank,
                                                 individually and as Agent

                                               By /s/ Len E. Meyer
                                                  ------------------------------
                                                  Name  Len E. Meyer
                                                  Title  Vice President

                                               Citibank, N.A.

                                               By  /s/ Peter C. Bickford
                                                  ------------------------------
                                                  Name  Peter C. Bickford
                                                  Title  Vice President

                                               Bank of America, N.A.

                                               By /s/ Mehul Mehta
                                                  ------------------------------
                                                  Name  Mehul Mehta
                                                  Title Principal

                                               Lasalle Bank National Association

                                               By /s/ Kyle Freimuth
                                                  ------------------------------
                                                  Name  Kyle Freimuth
                                                  Title  Vice President

                                               The Northern Trust Company

                                               By /s/ Eric Dybing
                                                  ------------------------------
                                                  Name  Eric Dybing
                                                  Title  Second Vice President

                                      -4-

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