Document:

exv10w23

 

Exhibit 10.23

EXECUTION VERSION

FIRST AMENDMENT

DATED AS OF JUNE 29, 2006

     
This FIRST AMENDMENT (this
“Amendment”) is entered into among AXLE
HOLDINGS, INC., a Delaware corporation
(“Holdings”), INSURANCE AUTO AUCTIONS,
INC., an Illinois corporation (the
“Borrower”), and BEAR STEARNS CORPORATE
LENDING INC., as administrative agent (in such capacity, the
“Administrative Agent”).

PRELIMINARY STATEMENTS

     
1. Reference is made to the Credit Agreement
date as of May 19, 2005 (the “Credit
Agreement”), among Holdings, the Borrower, the Lenders
party thereto, the several banks and other financial
institutions or entities from time to time parties to this
Agreement (the “Lenders”), Bear
Stearns & Co. Inc. and Deutsche Bank Securities Inc. as
joint lead arrangers and joint bookrunners (in such capacities,
the “Lead Arrangers”), Deutsche Bank Securities
Inc., as syndication agent (in such capacity, the
“Syndication Agent”), GMAC Commercial Finance
LLC, ING Capital LLC, and Merrill Lynch Capital, a division of
Merrill Lynch Business Financial Services, Inc. as
co-documentation agents, and the Administrative Agent.
Capitalized terms used but not otherwise defined herein are used
with the meanings given in the Credit Agreement as amended
hereby.

     
2. The Borrower has requested that the
Credit Agreement be amended as herein set forth.

     
3. Each of the Required Lenders and the
Administrative Agent are, on the terms and conditions stated
below, willing to grant such request.

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

     
SECTION 1. Amendment to Credit Agreement.
The Credit Agreement is amended and restated in its entirety to
read as set forth in Exhibit A.

     
SECTION 2. Conditions to Effectiveness.
The amendment contained in Section 1 shall be effective
upon satisfaction of each of the following conditions precedent
on or before June 29, 2006:

     
(a) The Administrative Agent shall have
(i) executed this Amendment and shall have received signed,
written authorization on behalf of each Required Lender to
execute this Amendment on behalf of such Lenders,
(ii) received counterparts of this Amendment executed by
each of Holdings and the Borrower and (iii) received
counterparts of the consent appended hereto (the
“Consent”) executed by the Grantors, as defined in the
Guarantee and Collateral Agreement (the
“Grantors”).

     
(b) The Administrative Agent shall have
received (i) commitments from banks and other financial
institutions with respect to the Additional Term Loans in an
aggregate principal amount equal to $116,246,708.10 (plus an
amount as determined by the Administrative Agent necessary for
the payoff of each of the holders of Existing Term Loans that
are not Converted Term Lenders), and (ii) as applicable,
(x) a fully executed Addendum with respect to each such
bank or other financial institution becoming a Lender for all
purposes under the Credit Agreement, as amended and restated
hereby or (y) a

2

 

fully executed Conversion Notice with respect to each Existing
Term Lender electing to convert its Existing Term Loan into
Converted Term Loans and pursuant to which, on the First
Amendment Effective Date, all of the outstanding principal
amount of such Lender’s Existing Term Loans shall be so
converted and shall become Term Loans.

     
(c) All fees and expense reimbursements
payable by any Loan Party to any Agent shall have been paid.

     
(d) The conditions precedent set forth in
Section 6.3 of the Credit Agreement as amended and restated
hereby shall have been satisfied or waived in accordance with
the terms thereof.

     
SECTION 3. Representations and Warranties.

     
Holdings and the Borrower jointly and severally
represent and warrant that:

     
(a) Authority. Each of Holdings and
the Borrower has the requisite power and authority to execute,
deliver and perform its obligations under this Amendment. Each
Grantor has the requisite power and authority to execute,
deliver and perform its obligations under the Consent and the
Loan Documents, as amended hereby. The execution, delivery and
performance by Holdings and the Borrower of this Amendment and
by the Grantors of the Consent, and the performance by each Loan
Party of each Loan Document (as amended hereby) to which it is a
party have been duly approved by all necessary organizational
action of such Loan Party.

     
(b) Enforceability. This Amendment
has been duly executed and delivered by Holdings and the
Borrower and the Consent has been duly executed and delivered by
each Grantor. When this Amendment becomes effective as set forth
in Section 2, each of this Amendment, the Consent and each
Loan Document (as amended hereby) is the legal, valid and
binding obligation of each Loan Party party thereto, enforceable
against such Loan Party in accordance with its terms except as
enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting
the enforcement of creditors’ rights generally and by
general equitable principles (whether enforcement is sought in
proceedings in equity or at law).

     
(c) Representations and Warranties.
The representations and warranties made by each Loan Party in
the Loan Documents are true and correct in all material respects
on the date hereof, and will be true and correct in all material
respects when this Amendment becomes effective, both before and
after giving effect to this Amendment, except to the extent that
such representations and warranties refer to an earlier date (in
which case they are true and correct in all material respects as
of such earlier date).

     
(d) No Default. No Default has
occurred and is continuing.

     
SECTION 4. Reference to and Effect on the
Loan Documents.

     
(a) If and when this Amendment becomes
effective as set forth in Section 2, each reference in the
Credit Agreement to “this Agreement”,
“hereunder”, “hereof” or words of like
import referring to the Credit Agreement, and each reference in
the other Loan Documents to “the Credit Agreement”,
“thereunder”, “thereof” or words of like
import referring to the Credit Agreement, shall mean and be a
reference to the Credit Agreement as amended hereby.

     
(b) The Credit Agreement, as amended hereby,
and the Guarantee and Collateral Agreement and the other Loan
Documents are and shall continue to be in full force and effect
and are

2

 

hereby in
all respects ratified and confirmed. Without limiting the generality
of the foregoing, the Security Documents and all of the Collateral
described therein do and shall continue to secure the payment of  all
Obligations under and as defined in the Credit Agreement, as amended
hereby.

     (c) The
execution, delivery and effectiveness of this Amendment shall not
operate as a waiver of any right, power or remedy of any Lender or
Agent under any of the Loan Documents or constitute, except as
expressly set forth herein, a waiver or amendment of any provision
of any of the Loan Documents.

     (d) This
Amendment is a Loan Document. The provisions of Sections 11.12
and 11.16 of the Credit Agreement shall apply with like effect to
this Amendment.

     SECTION 5. Counterparts.
This Amendment and the Consent may be executed in any number of
counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be
deemed to be an original and all of which taken together shall
constitute but one and the same agreement. Delivery of an executed
counterpart of a signature page to this Amendment (or any
authorization to execute this Amendment) or the Consent by facsimile
shall be effective as delivery of a manually executed counterpart
thereof.

     SECTION 6. Governing
Law. This Amendment shall be governed by, and construed in
accordance with, the laws of the State of New York.

[signature
pages follow]

3

 

     IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective officers thereunto duly authorized, as
of the date first written above.

	 	 	 	 	 	 	 	 	 
	 	 	  AXLE
HOLDINGS, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	/s/ Scott Pettit	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	  INSURANCE
AUTO AUCTIONS, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	/s/ Scott Pettit	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 

[FIRST AMENDMENT]

 

	 	 	 	 	 	 	 	 	 
	 	 	  BEAR
STEARNS CORPORATE LENDING INC.,

as Administrative Agent and Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	/s/ Richard Bram
Smith	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 Richard Bram Smith	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 Vice President	 	 

 

 

     IN
WITNESS WHEREOF, the parties hereto have caused this Consent to be
executed by their respective officers thereunto duly authorized, as
of the date first written above.

	 	 	 	 	 	 	 	 	 
	 	 	  AXLE
HOLDINGS, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	/s/ Scott Pettit	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	  INSURANCE
AUTO AUCTIONS, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	/s/ Scott Pettit	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	  IAA
SERVICES, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	/s/ Scott Pettit	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	  IAA
ACQUISITION CORP.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	/s/ Scott Pettit	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	  INSURANCE
AUTO AUCTIONS CORP.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	/s/ Scott Pettit	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

[FIRST AMENDMENT — CONSENT]

 

$280,000,000

CREDIT AGREEMENT

among

AXLE HOLDINGS, INC.,

as Holdings,

INSURANCE AUTO AUCTIONS, INC.,

as Borrower,

The Several Lenders

from Time to Time Parties Hereto,

DEUTSCHE BANK SECURITIES INC.,

as Syndication Agent,

BEAR STEARNS CORPORATE LENDING INC.,

as Administrative Agent,

GMAC COMMERCIAL FINANCE LLC,

as Co-Documentation Agent,

ING CAPITAL LLC,

as Co-Documentation Agent,

and

MERRILL LYNCH CAPITAL,

A DIVISION OF MERRILL LYNCH BUSINESS FINANCIAL SERVICES INC.,

as Co-Documentation Agent

Dated as of May 19, 2005,

as amended and restated as of June 29, 2006

BEAR, STEARNS & CO. INC. and DEUTSCHE BANK SECURITIES INC.

Joint Lead Arrangers and Joint Bookrunners

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	SECTION 1. DEFINITIONS	 	 	1	 
	 
	 	 	 	 	 	 	 	 
	 
	 	1.1.	 	Defined Terms	 	 	1	 
	 
	 	1.2.	 	Other Definitional Provisions	 	 	27	 
	 
	 	 	 	 	 	 	 	 
	SECTION 2. AMOUNT AND TERMS OF TERM COMMITMENTS	 	 	27	 
	 
	 	 	 	 	 	 	 	 
	 
	 	2.1.	 	Term Commitments	 	 	27	 
	 
	 	2.2.	 	Procedure for Term Loan Borrowing	 	 	28	 
	 
	 	2.3.	 	Conversion of Existing Term Loans	 	 	28	 
	 
	 	2.4.	 	Repayment of Term Loans	 	 	28	 
	 
	 	2.5.	 	First Amendment Effective Date True-Up	 	 	28	 
	 
	 	 	 	 	 	 	 	 
	SECTION 3. AMOUNT AND TERMS OF REVOLVING COMMITMENTS	 	 	29	 
	 
	 	 	 	 	 	 	 	 
	 
	 	3.1.	 	Revolving Commitments	 	 	29	 
	 
	 	3.2.	 	Procedure for Revolving Loan Borrowing	 	 	29	 
	 
	 	3.3.	 	Swingline Commitment	 	 	29	 
	 
	 	3.4.	 	Procedure for Swingline Borrowing; Refunding of Swingline Loans	 	 	30	 
	 
	 	3.5.	 	Commitment Fees, etc.	 	 	31	 
	 
	 	3.6.	 	Termination or Reduction of Commitments	 	 	31	 
	 
	 	3.7.	 	Letter of Credit Subcommitment	 	 	32	 
	 
	 	3.8.	 	Procedure for Issuance of Letter of Credit	 	 	32	 
	 
	 	3.9.	 	Fees and Other Charges	 	 	33	 
	 
	 	3.10.	 	L/C Participations	 	 	33	 
	 
	 	3.11.	 	Reimbursement Obligation of the Borrower	 	 	34	 
	 
	 	3.12.	 	Obligations Absolute	 	 	34	 
	 
	 	3.13.	 	Letter of Credit Payments	 	 	35	 
	 
	 	3.14.	 	Applications	 	 	35	 
	 
	 	3.15.	 	Increase in Term Commitments	 	 	35	 
	 
	 	 	 	 	 	 	 	 
	SECTION 4. GENERAL PROVISIONS APPLICABLE TO LOANS AND LETTERS OF CREDIT	 	 	36	 
	 
	 	 	 	 	 	 	 	 
	 
	 	4.1.	 	Optional Prepayments	 	 	36	 
	 
	 	4.2.	 	Mandatory Prepayments and Commitment Reductions	 	 	37	 
	 
	 	4.3.	 	Conversion and Continuation Options	 	 	38	 
	 
	 	4.4.	 	Limitations on Eurodollar Tranches	 	 	38	 
	 
	 	4.5.	 	Interest Rates and Payment Dates	 	 	39	 
	 
	 	4.6.	 	Computation of Interest and Fees	 	 	39	 
	 
	 	4.7.	 	Inability to Determine Interest Rate	 	 	39	 
	 
	 	4.8.	 	Pro Rata Treatment and Payments	 	 	40	 
	 
	 	4.9.	 	Requirements of Law	 	 	41	 
	 
	 	4.10.	 	Taxes	 	 	42	 
	 
	 	4.11.	 	Indemnity	 	 	44	 
	 
	 	4.12.	 	Change of Lending Office	 	 	45	 
	 
	 	4.13.	 	Replacement of Lenders	 	 	45	 
	 
	 	4.14.	 	Evidence of Debt	 	 	45	 
	 
	 	4.15.	 	Illegality	 	 	46	 

i

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	SECTION 5. REPRESENTATIONS AND WARRANTIES	 	 	46	 
	 
	 	 	 	 	 	 	 	 
	 
	 	5.1.	 	Financial Condition	 	 	46	 
	 
	 	5.2.	 	No Change	 	 	47	 
	 
	 	5.3.	 	Corporate Existence; Compliance with Law	 	 	47	 
	 
	 	5.4.	 	Power; Authorization; Enforceable Obligations	 	 	48	 
	 
	 	5.5.	 	No Legal Bar	 	 	48	 
	 
	 	5.6.	 	Litigation	 	 	48	 
	 
	 	5.7.	 	No Default	 	 	48	 
	 
	 	5.8.	 	Ownership of Property; Liens	 	 	49	 
	 
	 	5.9.	 	Intellectual Property	 	 	49	 
	 
	 	5.10.	 	Taxes	 	 	49	 
	 
	 	5.11.	 	Federal Regulations	 	 	49	 
	 
	 	5.12.	 	Labor Matters	 	 	49	 
	 
	 	5.13.	 	ERISA	 	 	50	 
	 
	 	5.14.	 	Investment Company Act; Other Regulations	 	 	50	 
	 
	 	5.15.	 	Subsidiaries	 	 	50	 
	 
	 	5.16.	 	Use of Proceeds	 	 	50	 
	 
	 	5.17.	 	Environmental Matters	 	 	51	 
	 
	 	5.18.	 	Accuracy of Information, etc.	 	 	52	 
	 
	 	5.19.	 	Security Documents	 	 	52	 
	 
	 	5.20.	 	Solvency	 	 	53	 
	 
	 	5.21.	 	[Reserved]	 	 	53	 
	 
	 	5.22.	 	Regulation H	 	 	53	 
	 
	 	5.23.	 	Certain Documents	 	 	53	 
	 
	 	 	 	 	 	 	 	 
	SECTION 6. CONDITIONS PRECEDENT	 	 	54	 
	 
	 	 	 	 	 	 	 	 
	 
	 	6.1.	 	Conditions to Initial Extension of Credit	 	 	54	 
	 
	 	6.2.	 	Conditions to Each Extension of Credit	 	 	54	 
	 
	 	6.3.	 	Conditions to the Extensions of Credit on the First Amendment Effective Date	 	 	54	 
	 
	 	 	 	 	 	 	 	 
	SECTION 7. AFFIRMATIVE COVENANTS	 	 	56	 
	 
	 	 	 	 	 	 	 	 
	 
	 	7.1.	 	Financial Statements	 	 	56	 
	 
	 	7.2.	 	Certificates; Other Information	 	 	56	 
	 
	 	7.3.	 	Payment of Obligations	 	 	58	 
	 
	 	7.4.	 	Maintenance of Existence; Compliance	 	 	58	 
	 
	 	7.5.	 	Maintenance of Property; Insurance	 	 	58	 
	 
	 	7.6.	 	Inspection of Property; Books and Records; Discussions	 	 	58	 
	 
	 	7.7.	 	Notices	 	 	59	 
	 
	 	7.8.	 	Environmental Laws	 	 	59	 
	 
	 	7.9.	 	Interest Rate Protection	 	 	60	 
	 
	 	7.10.	 	Additional Collateral, etc.	 	 	60	 
	 
	 	7.11.	 	Use of Proceeds	 	 	61	 
	 
	 	7.12.	 	Title Insurance      	 	 	61	 
	 
	 	7.13.	 	Further Assurances	 	 	61	 
	 
	 	7.14.	 	Post-Closing Delivery	 	 	62	 

ii

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	SECTION 8. NEGATIVE COVENANTS	 	 	62	 
	 
	 	 	 	 	 	 	 	 
	 
	 	8.1.	 	Financial Condition Covenants	 	 	62	 
	 
	 	8.2.	 	Indebtedness	 	 	64	 
	 
	 	8.3.	 	Liens	 	 	65	 
	 
	 	8.4.	 	Fundamental Changes	 	 	66	 
	 
	 	8.5.	 	Disposition of Property	 	 	67	 
	 
	 	8.6.	 	Restricted Payments	 	 	68	 
	 
	 	8.7.	 	Capital Expenditures	 	 	69	 
	 
	 	8.8.	 	Investments	 	 	69	 
	 
	 	8.9.	 	Optional Payments and Modifications of Certain Debt Instruments	 	 	70	 
	 
	 	8.10.	 	Transactions with Affiliates	 	 	71	 
	 
	 	8.11.	 	Sales and Leasebacks	 	 	72	 
	 
	 	8.12.	 	Hedge Agreements	 	 	72	 
	 
	 	8.13.	 	Changes in Fiscal Periods	 	 	72	 
	 
	 	8.14.	 	Negative Pledge Clauses	 	 	72	 
	 
	 	8.15.	 	Clauses Restricting Subsidiary Distributions	 	 	72	 
	 
	 	8.16.	 	Lines of Business	 	 	73	 
	 
	 	8.17.	 	Amendments to Acquisition Documents; First Amendment Ohio Acquisition Documents	 	 	73	 
	 
	 	 	 	 	 	 	 	 
	SECTION 9. EVENTS OF DEFAULT	 	 	74	 
	 
	 	 	 	 	 	 	 	 
	SECTION 10. THE AGENTS	 	 	77	 
	 
	 	 	 	 	 	 	 	 
	 
	 	10.1.	 	Appointment	 	 	77	 
	 
	 	10.2.	 	Delegation of Duties	 	 	77	 
	 
	 	10.3.	 	Exculpatory Provisions	 	 	77	 
	 
	 	10.4.	 	Reliance by Agents	 	 	78	 
	 
	 	10.5.	 	Notice of Default	 	 	78	 
	 
	 	10.6.	 	Non-Reliance on Agents and Other Lenders	 	 	78	 
	 
	 	10.7.	 	Indemnification	 	 	79	 
	 
	 	10.8.	 	Agent in Its Individual Capacity	 	 	79	 
	 
	 	10.9.	 	Successor Administrative Agent	 	 	80	 
	 
	 	10.10.	 	Agents Generally	 	 	80	 
	 
	 	10.11.	 	Agents Other than the Administrative Agent	 	 	80	 
	 
	 	10.12.	 	Withholding Tax	 	 	80	 
	 
	 	 	 	 	 	 	 	 
	SECTION 11. MISCELLANEOUS	 	 	81	 
	 
	 	 	 	 	 	 	 	 
	 
	 	11.1.	 	Amendments and Waivers	 	 	81	 
	 
	 	11.2.	 	Notices	 	 	82	 
	 
	 	11.3.	 	No Waiver; Cumulative Remedies	 	 	83	 
	 
	 	11.4.	 	Survival of Representations and Warranties	 	 	83	 
	 
	 	11.5.	 	Payment of Expenses and Taxes; Indemnity	 	 	84	 
	 
	 	11.6.	 	Successors and Assigns; Participations and Assignments	 	 	85	 
	 
	 	11.7.	 	Adjustments; Set-off	 	 	88	 
	 
	 	11.8.	 	Counterparts	 	 	88	 
	 
	 	11.9.	 	Severability	 	 	88	 
	 
	 	11.10.	 	Integration	 	 	88	 
	 
	 	11.11.	 	GOVERNING LAW	 	 	89	 
	 
	 	11.12.	 	Submission To Jurisdiction; Waivers	 	 	89	 

iii

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 
	 	11.13.	 	Acknowledgments	 	 	89	 
	 
	 	11.14.	 	Releases of Guarantees and Liens	 	 	90	 
	 
	 	11.15.	 	Confidentiality	 	 	90	 
	 
	 	11.16.	 	WAIVERS OF JURY TRIAL	 	 	91	 
	 
	 	11.17.	 	Delivery of Addenda	 	 	91	 
	 
	 	11.18.	 	USA PATRIOT Act	 	 	91	 
	 
	 	11.19.	 	Restatement	 	 	91	 

	 	 	 
	ANNEX:
	 	 
	 
	 	 
	A

	 	Pricing Grids
	B

	 	Conversion Notice
	 
	 	 
	SCHEDULES:
	 	 
	 
	 	 
	1.1

	 	Mortgaged Property
	5.4

	 	Consents, Authorizations, Filings and Notices
	5.9

	 	Intellectual Property Litigation
	5.15

	 	Subsidiaries
	5.17

	 	Environmental Matters
	8.2(d)

	 	Existing Indebtedness
	8.3(i)

	 	Existing Liens
	8.8(e)

	 	Existing Investments
	 
	 	 
	EXHIBITS:
	 	 
	 
	 	 
	A

	 	Form of Guarantee and Collateral Agreement
	B

	 	Form of Compliance Certificate
	C

	 	Form of Closing Certificate of the Guarantors
	D

	 	Form of Mortgage
	E

	 	Form of Assignment and Assumption
	F-1

	 	Form of Original Closing Date Legal Opinion of Skadden, Arps, Slate, Meagher & Flom LLP
	F-2

	 	Form of First Amendment Effective Date Legal Opinion of Katten Muchin Rosenman LLP
	F-3

	 	Form of Legal Opinion of Ohio Local Counsel
	G

	 	Form of Exemption Certificate
	H-1

	 	Form of Term Note
	H-2

	 	Form of Revolving Note
	H-3

	 	Form Swingline Note
	I

	 	Form of Addendum
	J

	 	Form of Solvency Certificate
	K

	 	Form of Closing Certificate of the Borrower

iv

 

CREDIT AGREEMENT, dated as of May 19, 2005, as amended and restated as of June 29, 2006, among AXLE
HOLDINGS, INC., a Delaware corporation (“Holdings”), INSURANCE AUTO AUCTIONS, INC., an
Illinois corporation (the “Borrower”), the several banks and other financial institutions
or entities from time to time parties to this Agreement (the “Lenders”), BEAR, STEARNS &
CO. INC. and DEUTSCHE BANK SECURITIES INC. as joint lead arrangers and joint bookrunners (in such
capacities, the “Lead Arrangers”), DEUTSCHE BANK SECURITIES INC., as syndication agent (in
such capacity, the “Syndication Agent”), GMAC COMMERCIAL FINANCE LLC, ING CAPITAL LLC and
MERRILL LYNCH CAPITAL, A DIVISION OF MERRILL LYNCH BUSINESS FINANCIAL SERVICES INC., as
co-documentation agents (in such capacity, each a “Co-Documentation Agent,” and
collectively, the “Co-Documentation Agents”), and BEAR STEARNS CORPORATE LENDING INC., as
administrative agent (in such capacity, the “Administrative Agent”).

Recitals

          WHEREAS, on the Original Closing Date (as defined below) Axle Merger Sub, Inc., an Illinois
corporation (“Axle Merger Sub”) merged with and into the Borrower pursuant to the Merger
Agreement (as defined below), with the Borrower continuing as the surviving corporation and the
Borrower, the Administrative Agent, the Syndication Agent, the Co-Documentation Agents and certain
of the Lenders entered into the Original Credit Agreement (as defined below);

          WHEREAS, upon the effectiveness of the Merger (as defined below), the Borrower succeeded to
all rights and obligations of Axle Merger Sub by operation of law; and

          WHEREAS, pursuant to the First Amendment dated as of June 29, 2006, the Original Credit
Agreement is amended and restated in its entirety as set forth herein.

          NOW, THEREFORE, in consideration of the premises and to induce the Administrative Agent and
the Lenders to enter into this Agreement and to induce the Lenders to make their respective
extensions of credit to the Borrower hereunder, the parties hereto hereby agree as follows:

SECTION 1. DEFINITIONS

          1.1.
Defined Terms. As used in this Agreement, the terms listed in this Section 1.1 shall
have the respective meanings set forth in this Section 1.1.

          “Acquisition”: the Merger and all related transactions contemplated by the
Acquisition Documentation.

          “Acquisition Documentation”: collectively, the Merger Agreement and all schedules,
exhibits and annexes thereto and all side letters and agreements affecting the terms thereof or
entered into to effectuate the Merger.

          “Addendum”: an instrument, substantially in the form of Exhibit I or otherwise
satisfactory to the Administrative Agent, by which a Person becomes a party to this Agreement as a
Lender hereunder or by which an existing Lender agrees to fund Loans pursuant to its Commitments
set forth therein, in each case, as of the First Amendment Effective Date.

          “Additional Term Loan Commitment”: the commitment of a Person, in the amount set
forth in the Addendum delivered by such Person, to fund Additional Term Loans in a specified
maximum amount on the First Amendment Effective Date or to fund Additional Term Loans as Delayed
Draw Term Loans in a specified maximum amount on any Delayed Draw Date. Each funding of an
Additional Term Loan by a Lender shall immediately and automatically reduce such Lender’s Additional Term Loan
Commitment on a dollar-for-dollar basis by the amount of such funded Additional Term

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Loan. The original principal amount of the aggregate Additional Term Loan Commitments is $116,246,708.10 plus
an amount as determined by the Administrative Agent necessary for the payoff of each of the holders
of Existing Term Loans that are not Converted Term Lenders.

          “Additional Term Loans”: term loans made (a) on the First Amendment Effective Date
pursuant to Section 2.1, (b) on any Delayed Draw Date, in each case, pursuant to any Additional
Term Loan Commitment.

          “Additional Term Lender”: each Person that agrees, in an Addendum, to fund an
Additional Term Loan.

          “Adjustment Date”: as defined in the Pricing Grids.

          “Administrative Agent”: as defined in the preamble to this Agreement.

          “Affiliate”: as to any Person, any other Person that, directly or indirectly, is in
control of, is controlled by, or is under common control with, such Person. For purposes of this
definition, “control” of a Person means the power, directly or indirectly, either to (a) vote 10%
or more of the securities having ordinary voting power for the election of directors (or persons
performing similar functions) of such Person or (b) direct or cause the direction of the management
and policies of such Person, whether by contract or otherwise.

          “Agents”: the collective reference to the Syndication Agent, the Arrangers and the
Administrative Agent, which term shall include, for purposes of Section 10 only, the Issuing
Lender.

          “Aggregate Exposure”: with respect to any Lender at any time, an amount equal to (a)
until the Original Closing Date, the aggregate amount of such Lender’s Commitments at such time,
(b) thereafter but until the First Amendment Effective Date, the sum of (i) the aggregate then
unpaid principal amount of such Lender’s Term Loans and (ii) the amount of such Lender’s Revolving
Commitment then in effect or, if the Revolving Commitments have been terminated, the amount of such
Lender’s Revolving Extensions of Credit then outstanding and (c) thereafter, the sum of (i) the
aggregate then unpaid principal amount of such Lender’s Term Loans and the aggregate amount of such
Lender’s unfunded Term Commitments and (ii) the amount of such Lender’s Revolving Commitments then
in effect, or if the Revolving Commitments have been terminated, the amount of such Lender’s
Revolving Extensions of Credit then outstanding.

          “Aggregate Exposure Percentage”: with respect to any Lender at any time, the ratio
(expressed as a percentage) of such Lender’s Aggregate Exposure at such time to the Aggregate
Exposure of all Lenders at such time.

          “Agreement”: this Credit Agreement.

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          “Applicable Margin”: prior to the first Adjustment Date, for each Type and class of
Loan the rate per annum set forth below opposite the description of such Loan:

	 	 	 	 	 
	Eurodollar Term Loans
	 	 	2.50	%
	Eurodollar Revolving Loans
	 	 	2.75	%
	Base Rate Term Loans
	 	 	1.50	%
	Base Rate Revolving Loans and Swingline Loans
	 	 	1.75	%

provided, that (a) on and after the first Adjustment Date, the Applicable Margin will be
determined pursuant to the Pricing Grids and (b) that the Applicable Margin for any Type or class
of Loan outstanding prior to the First Amendment Effective Date shall be as set forth in the
Original Credit Agreement.

          “Application”: an application, in a form as the Issuing Lender may reasonably specify
from time to time to request the Issuing Lender open a Letter of Credit.

          “Approved Fund”: (a) a CLO and (b) with respect to any Lender that is a fund which
invests in commercial loans, any other fund that invests in commercial loans and is managed or
advised by the same investment advisor as such Lender or by an Affiliate of such investment
advisor.

          “Asset Sale”: any Disposition of Property or series of related Dispositions of
Property (including any issuance or sale of Capital Stock of any Subsidiary of the Borrower, but
excluding any Disposition permitted by clause (a), (b), (c), (d), (e) or (f) of Section 8.5) that
yields gross proceeds to any Group Member (valued at the initial principal amount thereof in the
case of non-cash proceeds consisting of notes or other debt securities and valued at fair market
value in the case of other non-cash proceeds) in excess of $500,000.

          “Assignee”: as defined in Section 11.6(b).

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

          “Auto Disposal Systems, Inc.”: Auto Disposal Systems, Inc., an Ohio corporation, and
the entity being acquired by the Borrower pursuant to the Ohio Acquisition.

          “Available Additional Term Commitment”: as to any Term Lender at any time, the
unfunded Additional Term Loan Commitment of such Lender then in effect after giving effect to the
funding of all Additional Term Loans and the expiration or termination of all or any portion of
such Additional Term Loan Commitment in accordance with the terms of this Agreement from time to
time.

          “Available Retained ECF Amount”: (i) an amount which is initially equal to zero, plus
(ii) the cumulative amount for all then-completed fiscal years (commencing with the Borrower’s 2006
fiscal year) of the amount of Excess Cash Flow permitted to be retained by the Borrower for any
fiscal year after giving effect to the calculation of Excess Cash Flow for such fiscal years and
the payment of Loans required pursuant to Section 4.2(d) in respect of such fiscal years, minus
(iii) the amount of Excess Cash Flow (expressed as a positive amount) for any fiscal year in which
Excess Cash Flow was a negative

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number, minus (iv) any amount of the Available Retained ECF Amount
used to make Capital Expenditures as permitted by Section 8.7, minus (v) the amount of the Available Retained ECF
Amount utilized to effectuate one or more Permitted Acquisitions pursuant to clause (c) of the
definition thereof.

          “Available Revolving Commitment”: as to any Revolving Lender at any time, an amount
equal to the excess, if any, of (a) such Lender’s Revolving Commitment then in effect over
(b) such Lender’s Revolving Extensions of Credit then outstanding; provided that, in
calculating any Lender’s Revolving Extensions of Credit for the purpose of determining such
Lender’s Available Revolving Commitment pursuant to Section 3.5, the aggregate principal amount of
Swingline Loans then outstanding shall be deemed to be zero.

          “Axle Merger Sub”: as defined in the recitals to this Agreement.

          “Base Rate”: 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 0.50%. For purposes hereof: “Prime
Rate” shall mean the rate of interest per annum publicly announced from time to time by the
Bank of New York as its prime rate in effect at its principal office in New York City (the Prime
Rate not being intended to be the lowest rate of interest charged by the Bank of New York in
connection with extensions of credit to debtors). Any change in the Base Rate 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.

          “Base Rate Loans”: Loans the rate of interest applicable to which is based upon the
Base Rate.

          “Benefited Lender”: as defined in Section 11.7(a).

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

          “Borrower”: as defined in the preamble to this Agreement.

          “Borrowing Date”: any Business Day specified by the Borrower as a date on which the
Borrower requests the relevant Lenders to make Loans hereunder.

          “Business”: as defined in Section 5.17(b).

          “Business Day”: a day other than a Saturday, Sunday or other day on which commercial
banks in New York City are authorized or required by law to close, provided, that with
respect to notices and determinations in connection with, and payments of principal and interest
on, Eurodollar Loans, such day is also a day for trading by and between banks in Dollar deposits in
the interbank eurodollar market.

          “Capital Expenditures”: for any period, with respect to any Person, the aggregate of
all expenditures by such Person and its Subsidiaries for the acquisition or leasing (pursuant to a
capital lease) of fixed or capital assets or additions to equipment (including replacements,
capitalized repairs and improvements during such period) which would, in accordance with GAAP, be
set forth as capital expenditures in the consolidated statement of cash flow of the Borrower, but
excluding in any event any Permitted Acquisitions and additions to fixed assets required by GAAP in
respect of Leasehold Cost Overruns.

4

 

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

          “Capital Stock”: 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.

          “Cash Equivalents”: (a) marketable direct obligations issued by, or unconditionally
guaranteed by, the United States government or issued by any agency thereof and backed by the full
faith and credit of the United States, in each case maturing within one year from the date of
acquisition; (b) certificates of deposit, time deposits, eurodollar time deposits or overnight bank
deposits having maturities of six months or less from the date of acquisition issued by any Lender
or by any commercial bank organized under the laws of the United States or any state thereof having
combined capital and surplus of not less than $500,000,000; (c) commercial paper of an issuer rated
at least A-1 by Standard & Poor’s Ratings Services (“S&P”) or P-1 by Moody’s Investors
Service, Inc. (“Moody’s”), or carrying an equivalent rating by a nationally recognized
rating agency, if both of the two named rating agencies cease publishing ratings of commercial
paper issuers generally, and maturing within six months from the date of acquisition; (d)
repurchase obligations of any Lender or of any commercial bank satisfying the requirements of
clause (b) of this definition, having a term of not more than 30 days, with respect to securities
issued or fully guaranteed or insured by the United States government; (e) securities with
maturities of one year or less from the date of acquisition issued or fully guaranteed by any
state, commonwealth or territory of the United States, by any political subdivision or taxing
authority of any such state, commonwealth or territory or by any foreign government, the securities
of which state, commonwealth, territory, political subdivision, taxing authority or foreign
government (as the case may be) are rated at least A by S&P or A by Moody’s; (f) securities with
maturities of six months or less from the date of acquisition backed by standby letters of credit
issued by any Lender or any commercial bank satisfying the requirements of clause (b) of this
definition; or (g) shares of money market mutual or similar funds which invest exclusively in
assets satisfying the requirements of clauses (a) through (f) of this definition or money market
funds that (i) comply with the criteria set forth in Securities and Exchange Commission Rule 2a-7
under the Investment Company Act of 1940, as amended, (ii) are rated AAA by S&P and Aaa by Moody’s
and (iii) have portfolio assets of at least $5,000,000,000.

          “CLO”: any entity (whether a corporation, partnership, trust or otherwise) that is
engaged in making, purchasing, holding or otherwise investing in bank loans and similar extensions
of credit in the ordinary course of its business and is administered or managed by a Lender or an
affiliate of such Lender.

          “Closing Certificate of the Borrower” a certificate duly executed by a Responsible
Officer on behalf of the Borrower substantially in the form of Exhibit K.

          “Co-Documentation Agent”: as defined in the preamble to this Agreement.

          “Code”: the Internal Revenue Code of 1986, as amended from time to time.

5

 

          “Collateral”: all property of the Loan Parties, now owned or hereafter acquired, upon
which a Lien is purported to be created by any Security Document.

          “Commitment”: as to any Lender, the sum of the Term Commitment and the Revolving
Commitment of such Lender.

          “Commitment Fee Rate”: 0.5% per annum; provided, that on and after the first
Adjustment Date occurring after the completion of the first full fiscal quarter of the Borrower
after the Original Closing Date, the Commitment Fee Rate will be determined pursuant to the Pricing
Grids.

          “Commonly Controlled Entity”: any trade or business, whether or not incorporated,
that is under common control with the Borrower within the meaning of Section 4001 of ERISA or
(solely for purposes of Section 302 of ERISA and Section 412 of the Code) is part of a group that
includes the Borrower and that is treated as a single employer under Section 414 of the Code.

          “Compliance Certificate”: a certificate duly executed by a Responsible Officer on
behalf of the Borrower substantially in the form of Exhibit B.

          “Conduit Lender”: any special purpose entity organized and administered by any Lender
for the purpose of making Loans otherwise required to be made by such Lender and designated by such
Lender in a written instrument (a copy of which shall be provided by the Administrative Agent to
the Borrower upon request), subject to the consent of the Administrative Agent and the Borrower
(which consent shall not be unreasonably withheld); provided, that the designation by any
Lender of a Conduit Lender shall not relieve the designating Lender of any of its obligations under
this Agreement (including its obligation to fund a Loan) if, for any reason, its Conduit Lender
fails to fund any such Loan, and the designating Lender (and not the Conduit Lender) shall have the
sole right and responsibility to deliver all consents and waivers required or requested under this
Agreement with respect to its Conduit Lender, and provided, further, that no
Conduit Lender shall (a) be entitled to receive any greater amount pursuant to Section 4.9, 4.10,
4.11 or 11.5 than the designating Lender would have been entitled to receive in respect of the
extensions of credit made by such Conduit Lender, (b) be deemed to have any Commitment or (c) be
designated if such designation would otherwise increase the costs of any Facility to the Borrower.

          “Confidential Information Memorandum”: the Confidential Information Memorandum dated
April 14, 2005 and furnished to the Lenders in connection with this Agreement.

          “Consolidated Current Assets”: at any date, all amounts (other than cash and Cash
Equivalents) that would, in conformity with GAAP, be set forth opposite the caption “total current
assets” (or any like caption) on a consolidated balance sheet of the Borrower and its Subsidiaries
at such date.

          “Consolidated Current Liabilities”: at any date, all amounts that would, in
conformity with GAAP, be set forth opposite the caption “total current liabilities” (or any like
caption) on a consolidated balance sheet of the Borrower and its Subsidiaries at such date, but
excluding (a) the current portion of any Funded Debt of the Borrower and its Subsidiaries and (b)
without duplication of clause (a) above, all Indebtedness consisting of Revolving Loans or
Swingline Loans to the extent otherwise included therein.

          “Consolidated EBITDA”: for any period, Consolidated Net Income for such period
plus, without duplication and to the extent reflected as a charge in the statement of such
Consolidated Net Income for such period, the sum of (a) the aggregate amount of all provisions for
all taxes (whether or not paid, estimated or accrued) based upon the income and profits of the
Borrower or alternative taxes

6

 

imposed as reflected in the provision for income taxes in the
Borrower’s consolidated financial statements, (b) interest expense, amortization or write-off of
debt discount and debt issuance costs, and commissions, discounts and other fees and charges
associated with Indebtedness (including the Loans), (c) depreciation and amortization expense, (d)
amortization of intangibles (including goodwill) and organization costs, (e) any extraordinary, unusual or non-recurring charges or losses
(including stock option payments and severance expenses, change of control and employee payments,
financing fees, and other fees and expenses incurred (i) in connection with the Acquisition (in an
aggregate amount not to exceed $35,000,000), (ii) in connection with the Ohio Acquisition (in an
aggregate amount not to exceed $2,500,000) and (iii) and in connection with Permitted
Acquisitions), whether or not included as a separate item in the statement of Consolidated Net
Income, (f) any cash compensation expense relating to the cancellation or retirement of stock
options in connection with the Acquisition in an aggregate amount not to exceed $27,500,000, (g)
non-cash compensation expenses from stock, options to purchase stock and stock appreciation rights
issued to the management of the Borrower, (h) any other non-cash charges, non-cash expenses or
non-cash losses of the Borrower or any of its Subsidiaries for such period (including deferred rent
but excluding any such charge, expense or loss incurred in the ordinary course of business that
constitutes an accrual of or a reserve for cash charges for any future period); provided,
however, that cash payments made in such period or in any future period in respect of such
non-cash charges, expenses or losses (excluding any such charge, expense or loss incurred in the
ordinary course of business that constitutes an accrual of or a reserve for cash charges for any
future period) shall be subtracted from Consolidated Net Income in calculating Consolidated EBITDA
in the period when such payments are made, (i) cash restructuring charges itemized in a certificate
delivered to the Administrative Agent by a Responsible Officer not exceeding $2,500,000 per fiscal
year and $5,000,000 in the aggregate from the date hereof; (j) no more than $500,000 accrued in any
fiscal year for payment to the Sponsor in respect of management, monitoring, consulting and
advisory fees, (k) any write-off, depreciation or amortization of intangibles arising pursuant to
Statement of Financial Accounting Standards No. 141 or to Statement of Financial Accounting
Standards No. 142 and any other non-cash charges resulting from purchase accounting, (l) any
reduction in revenue resulting from the purchase accounting effects of adjustments to deferred
revenue in component amounts required or permitted by GAAP and related authoritative pronouncements
(including the effects of such adjustments pushed down to the Borrower and its Subsidiaries), as a
result of the Acquisition, any acquisition consummated on or prior to the First Amendment Effective
Date, or any Permitted Acquisition, (m) any loss realized upon the sale or other disposition of any
asset (including pursuant to any sale/leaseback transaction) that is not Disposed of in the
ordinary course of business and any loss realized upon the sale or other disposition of any Capital
Stock of any Person, (n) any unrealized losses in respect of Hedge Agreements, (o) any unrealized
foreign currency translation losses in respect of Indebtedness of any Person denominated in a
currency other than the functional currency of such Person, and (p) the amount of any minority
expense net of dividends and distributions paid to the holders of such minority interest; and
minus, to the extent included in the statement of such Consolidated Net Income for such
period, the sum of (a) interest
 income, (b) any extraordinary, unusual or non-recurring income or
gains whether or not included as a separate item in the statement of Consolidated Net Income, (c)
all non-cash gains on the sale or disposition of any property other than inventory sold in the
ordinary course of business, (d) any other non-cash income (excluding any items that represent the
reversal of any accrual of, or cash reserve for, anticipated cash charges in any prior period that
are described in the parenthetical to clause (h) above), (e) any gain realized upon the sale or
other disposition of any asset (including pursuant to any sale/leaseback transaction) that is not
Disposed of in the ordinary course of business and any gain realized upon the sale or other
disposition of any Capital Stock of any Person, (f) any unrealized gains in respect of Hedge
Agreements and (g) any unrealized foreign currency translation gains in respect of Indebtedness of
any Person denominated in a currency other than the functional currency of such Person, all as
determined on a consolidated basis. For the purposes of calculating Consolidated EBITDA for any
period of four consecutive fiscal quarters (each, a “Reference Period”) pursuant to any
determination of the Consolidated Leverage Ratio, (i) if at

7

 

any time during such Reference Period
the Borrower or any Subsidiary shall have made any Material Disposition, the Consolidated EBITDA
for such Reference Period shall be reduced by an amount equal to the Consolidated EBITDA (if
positive) attributable to the property that is the subject of such Material Disposition for such
Reference Period or increased by an amount equal to the Consolidated EBITDA (if negative)
attributable thereto for such Reference Period and (ii) if during such Reference Period the
Borrower or any Subsidiary shall have made a Material Acquisition, Consolidated EBITDA for
such Reference Period shall be calculated after giving pro forma effect thereto,
including without limitation any cost savings related thereto to the extent described as such in
writing by the Borrower to the Administrative Agent and expected to be realized within 180 days of
such Material Acquisition, as if such Material Acquisition occurred on the first day of such
Reference Period. As used in this definition, “Material Acquisition” means any acquisition
of property or series of related acquisitions of property that (a) constitutes assets comprising
all or substantially all of an operating unit of a business or constitutes all or substantially all
of the common stock of a Person and (b) involves the payment of consideration by the Borrower and
its Subsidiaries in excess of $1,000,000; and “Material Disposition” means any Disposition
of property or series of related Dispositions of property that yields gross proceeds to the
Borrower or any of its Subsidiaries in excess of $3,000,000. Notwithstanding the foregoing, (x)
Consolidated EBITDA shall be deemed to be $15,709,000, $13,319,000 and $17,563,000, respectively,
for the fiscal quarters ending on or about September 30, 2005, December 31, 2005 and March 31,
2006, and (y) Consolidated EBITDA for the fiscal quarter ending June 30, 2006 shall be increased by
$3,200,000 as an allowance for anticipated cost savings identified by the Borrower and the EBITDA
of Auto Disposal Systems, Inc. for such period.

          “Consolidated Interest Coverage Ratio”: for any period, the ratio of (a) Consolidated
EBITDA for such period to (b) Consolidated Interest Expense for such period.

          “Consolidated Interest Expense”: for any period, total cash interest expense
(including that attributable to Capital Lease Obligations), net of cash interest income, of the
Borrower and its Subsidiaries (determined on a consolidated basis in each case in accordance with
GAAP) for such period with respect to all outstanding Indebtedness of the Borrower and its
Subsidiaries (including, to the extent treated as interest expense under GAAP, all commissions,
discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance
financing and net costs under Hedge Agreements in respect of interest rates to the extent such net
costs are allocable to such period but excluding any amortization or write-off of financing costs
otherwise included therein).

          “Consolidated Leverage Ratio”: the ratio of (a) Consolidated Total Debt on the last
day of any fiscal quarter of the Borrower to (b) Consolidated EBITDA for the period of four
consecutive fiscal quarters then ended.

          “Consolidated Net Income”: for any period, the consolidated net income (or loss) of
the Borrower and its Subsidiaries, determined on a consolidated basis in accordance with GAAP;
provided that there shall be excluded the income (or loss) of any Person (other than a
Subsidiary of the Borrower) in which the Borrower or any of its Subsidiaries has an ownership
interest, except to the extent that any such income is actually received by the Borrower or such
Subsidiary in the form of dividends or similar distributions.

          “Consolidated Total Debt”: at any date, the aggregate amount shown or required by
GAAP to be shown as a liability on a consolidated balance sheet of the Borrower and its
Subsidiaries as of such date in respect of all Indebtedness of the Borrower or any of its
Subsidiaries then outstanding.

8

 

          “Consolidated Working Capital”: at any date, the excess of Consolidated Current
Assets on such date over Consolidated Current Liabilities on such date.

          “Continuing Directors”: the directors of Holdings or a Parent on the Closing Date,
after giving effect to the Acquisition and the other transactions contemplated hereby, and each
other director of Holdings or such Parent whose nomination for election to the board of directors
of Holdings or such Parent is recommended by at least a majority of the then Continuing Directors
or such other director
receives the vote of the Permitted Investors in his or her election by the shareholders of
Holdings or such Parent.

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

          “Control Investment Affiliate”: as to any Person, any other Person that (a) directly
or indirectly, is in control of, is controlled by, or is under common control with, such Person and
(b) is organized by such Person or a common controlling Person primarily for the purpose of making
equity or debt investments in one or more companies. For purposes of this definition, “control” of
a Person means the power, directly or indirectly, to direct or cause the direction of the
management and policies of such Person whether by contract or otherwise.

          “Conversion Notice”: a Conversion Notice substantially in the form of Annex B or such
other form as is reasonably acceptable to each of the Borrower and the Administrative Agent.

          “Converted Term Loans”: Existing Term Loans subject to a Conversion Notice executed
and delivered to the Administrative Agent by the Lender to which such Existing Term Loans are
outstanding.

          “Converted Term Lender”: each Lender that agrees, in a Conversion Notice, to convert
its Existing Term Loans into Converted Term Loans.

          “Credit Facilities”: to the extent specified by the Borrower by notice to the
Administrative Agent, one or more other debt facilities or commercial paper facilities, in each
case, with banks or other institutional lenders providing for revolving credit loans, term loans,
receivables financing (including through the sale of receivables to such lenders or to special
purpose entities formed to borrow from such lenders against such receivables) or letters of credit,
in each case, as amended, restated, modified, renewed, refunded, replaced (whether upon or after
termination or otherwise) or refinanced (including by means of sales of debt securities to
institutional investors) in whole or in part from time to time.

          “Default”: any of the events specified in Section 9, whether or not any requirement
for the giving of notice, the lapse of time, or both, has been satisfied.

          “Delayed Draw Availability Expiration Date”: the earlier of (a) December 29, 2006 and
(b) the date on which the Borrower has terminated all outstanding Additional Term Loan Commitments
pursuant to Section 3.6. Upon the occurrence of the Delayed Draw Availability Expiration Date, all
then unfunded Additional Term Loan Commitments shall be deemed terminated as of such date.

          “Delayed Draw Date”: as defined in Section 2.1(c).

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          “Delayed Draw Term Loans”: the term loans made by the Additional Term Lenders to the
Borrower pursuant to Section 2.1. The Delayed Draw Term Loans shall be Term Loans for all purposes
of this Agreement.

          “Disposition”: with respect to any Property, any sale, lease, sale and leaseback,
assignment, conveyance, transfer or other disposition thereof. The terms “Dispose” and
“Disposed of” shall have correlative meanings.

          “Dollars” and “$”: dollars in lawful currency of the United States.

          “Domestic Subsidiary”: any Subsidiary of the Borrower organized under the laws of any
jurisdiction within the United States.

          “Earnout Obligation”: an obligation to pay the seller in an acquisition a future
payment that is contingent upon the financial performance of the business acquired in such
acquisition exceeding a specified benchmark level and that becomes payable when such excess
financial performance is achieved.

          “ECF Percentage”: with respect to any fiscal year of the Borrower ending after
December 31, 2006, 75.0%; provided that the ECF Percentage shall be (i) reduced to 50.0% if
the Consolidated Leverage Ratio as of the last day of such fiscal year is less than 4.0 to 1.0 but
equal to or greater than 3.0 to 1.0 and (ii) equal to 0% if the Consolidated Leverage Ratio as of
the last day of such fiscal year is less than 3.0 to 1.0.

          “Effective Date Additional Term Loan Commitment”: that amount of the Additional Term
Loan Commitment which shall be available to the Borrower on the First Amendment Effective Date.
The aggregate amount of the Effective Date Additional Term Loan Commitments shall be $81,246,708.10
plus an amount as determined by the Administrative Agent necessary for the payoff of each of the
holders of Existing Term Loans that are not Converted Term Lenders.

          “Environmental Laws”: any and all foreign, Federal, state, local or municipal laws,
rules, orders, regulations, statutes, ordinances, codes, decrees, requirements of any Governmental
Authority or other Requirements of Law (including common law) regulating, relating to or imposing
liability or standards of conduct concerning protection or preservation of the environment and
natural resources, including those relating to the generation, use storage, transportation,
disposal, release, or threatened release of, or exposure to, Materials of Environmental Concern, as
now or may at any time hereafter be in effect.

          “Environmental Permits”: any and all permits, licenses, approvals, registrations,
notifications, exemptions and other authorizations required under any Environmental Law.

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

          “Escrow Agreement”: as defined in the definition of Senior Unsecured Note Proceeds
Escrow.

          “Eurocurrency Reserve Requirements”: for any day as applied to a Eurodollar Loan, the
aggregate (without duplication) of the maximum rates (expressed as a decimal fraction) of reserve
requirements in effect on such day (including basic, supplemental, marginal and emergency reserves
under any regulations of the Board or other Governmental Authority having jurisdiction with respect

10

 

thereto) dealing with reserve requirements prescribed for eurocurrency funding (currently referred
to as “Eurocurrency Liabilities” in Regulation D of the Board) maintained by a member bank of the
Federal Reserve System.

          “Eurodollar Base Rate”: with respect to each day during each Interest Period
pertaining to a Eurodollar Loan, the rate per annum 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. In the event that such rate does not
appear on Page 3750 of the Telerate screen(or otherwise on such screen), the “Eurodollar Base Rate” shall be determined by
reference to such other comparable publicly available service for displaying eurodollar rates as
may be reasonably selected by the Administrative Agent or, in the absence of such availability, by
reference to the rate at which the Administrative Agent is offered Dollar deposits at or about
11:00 a.m., New York City time, two Business Days prior to the beginning of such Interest Period in
the interbank eurodollar market where its eurodollar and foreign currency and exchange operations
are then being conducted for delivery on the first day of such Interest Period for the number of
days comprised therein.

          “Eurodollar Loans”: Loans the rate of interest applicable to which is based upon the
Eurodollar Rate.

          “Eurodollar Rate”: with respect to each day during each Interest Period pertaining to
a Eurodollar Loan, a rate per annum determined for such day in accordance with the following
formula (rounded upward to the nearest 1/100th of 1%):

                  Eurodollar Base Rate                      

1.00 – Eurocurrency Reserve Requirements

          “Eurodollar Tranche”: the collective reference to Eurodollar Loans under a particular
Facility for which the then current Interest Periods with respect to all of which begin on the same
date and end on the same later date (whether or not such Loans shall originally have been made on
the same day).

          “Event of Default”: any of the events specified in Section 9, provided that
any requirement for the giving of notice, the lapse of time, or both, has been satisfied.

          “Excess Cash Flow”: for any fiscal year of the Borrower, the excess, if any, of (a)
the sum, without duplication, of (i) Consolidated Net Income for such fiscal year, (ii) the amount
of all non-cash charges (including depreciation and amortization) deducted in arriving at such
Consolidated Net Income, (iii) decreases in Consolidated Working Capital for such fiscal year, and
(iv) the aggregate net amount of non-cash losses by the Borrower and its Subsidiaries during such
fiscal year, to the extent deducted in arriving at such Consolidated Net Income over (b)
the sum, without duplication, of (i) the aggregate amount actually paid by the Borrower and its
Subsidiaries in cash during such fiscal year on account of Capital Expenditures and Permitted
Acquisitions (excluding the principal amount of Indebtedness incurred and equity contributions
received to finance such payments and any such payments financed with the proceeds of any
Reinvestment Deferred Amount or any Available Retained ECF Amount), (ii) the aggregate amount of
all prepayments of Revolving Loans and Swingline Loans during such fiscal year to the extent
accompanying permanent optional reductions of the Revolving Commitments and all optional
prepayments of the Term Loans during such fiscal year, (iii) the aggregate amount of all regularly
scheduled and voluntary principal payments of Funded Debt (including the Term Loans) of the
Borrower and its Subsidiaries made during such fiscal year (other than in respect of any revolving
credit facility to the extent there is not an equivalent permanent reduction in commitments

11

 

thereunder), (iv) increases in Consolidated Working Capital for such fiscal year, and (v) the
aggregate net amount of non-cash gains, non-cash income and non-cash credits accrued by the
Borrower and its Subsidiaries during such fiscal year, to the extent included in arriving at such
Consolidated Net Income.

          “Excluded Indebtedness”: all Indebtedness permitted by Section 8.2 (except any
“Additional Notes” (as defined in the Senior Unsecured Note Indenture) issued after the Original
Closing Date, the proceeds of which are not applied within 90 days after issuance to finance
Capital Expenditures or a Permitted Acquisition).

          “Excluded Redemption Obligation”: an obligation (i) to purchase, redeem, retire or
otherwise acquire for value any Capital Stock that is not, and cannot in any contingency become
required to be purchased, redeemed, retired or otherwise acquired prior to the first anniversary of
the later of the Revolving Termination Date and the date final payment is due on the Term Loans or
(ii) an obligation of Holdings to purchase, redeem, retire or otherwise acquire for value any
Capital Stock of Holdings or any Parent from present or former officers, directors or employees of
any Group Member upon the death, disability, retirement or termination of employment or service of
such officer, director or employee, or otherwise under any stock option or employee stock ownership
plan approved by the board of directors of Holdings or any Parent.

          “Existing Term Loans”: each of the Term Loans outstanding immediately prior to the
effectiveness of the First Amendment.

          “Facility”: each of (a) the Term Commitments and the Term Loans made thereunder (the
“Term Facility”), and (b) the Revolving Commitments and the extensions of credit made
thereunder (the “Revolving Facility”).

          “Federal Funds Effective Rate”: for any day, the weighted average of the rates on
overnight federal funds transactions with members of the Federal Reserve System arranged by federal
funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New
York, or, if such rate is not so published for any day that is a Business Day, the average 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.

          “First Amendment”: the First Amendment to this Agreement, dated as of June 29, 2006.

          “First Amendment Effective Date”: the date on which the First Amendment became
effective as set forth in Section 2 thereof, which date is June 29, 2006.

          “First Amendment Effective Date Pro Forma Balance Sheet”: as defined in Section
5.1(a).

          “First Amendment Ohio Acquisition Documents”: collectively, the Ohio Stock Purchase
Agreement and all schedules, exhibits and annexes thereto and all side letters and agreements
affecting the terms thereof or entered into to effectuate the Ohio Acquisition.

          “First Supplemental Indenture”: that certain supplemental indenture attached as
Exhibit A to the Escrow Agreement.

          “Foreign Subsidiary”: any Subsidiary of the Borrower that is not a Domestic
Subsidiary or that is a Foreign Subsidiary Holdco.

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          “Foreign Subsidiary Holdco”: any Domestic Subsidiary that (a) has no material assets
other than securities of one or more Foreign Subsidiaries and other assets relating to the
ownership interest in any such securities and (b) has no Guarantee Obligations in respect of any
Indebtedness of the Borrower or any Domestic Subsidiary.

          “Funded Debt”: as to any Person, all Indebtedness of such Person that matures more
than one year from the date of its creation or matures within one year from such date but is
renewable or extendible, at the option of such Person, 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 current maturities and current sinking
fund payments in respect of such Indebtedness whether or not required to be paid within one year
from the date of its creation and, in the case of the Borrower, Indebtedness in respect of the
Loans.

          “Funding Office”: the office of the Administrative Agent specified in Section 11.2 or
such other office as may be specified from time to time by the Administrative Agent as its funding
office by written notice to the Borrower and the Lenders.

          “Funding True-Up Percentage”: a fraction, the numerator of which is $195,000,000 and
the denominator of which is $230,000,000.

          “GAAP”: generally accepted accounting principles in the United States as in effect
from time to time except that for purposes of Section 8.1, GAAP shall be determined on the basis of
such principles in effect on the Original Closing Date and consistent with those used in the
preparation of the most recent audited financial statements referred to in Section 5.1(b). In the
event that any Accounting Change (as defined below) shall occur and such change would otherwise
result in a change in the method of calculation of financial covenants, standards or terms in this
Agreement, then the Borrower and the Administrative Agent agree to enter into negotiations in order
to amend such provisions of this Agreement so as to equitably reflect such Accounting Changes with
the desired result that the criteria for evaluating the Borrower’s financial condition shall be the
same after such Accounting Changes as if such Accounting Changes had not been made. Until such
time as such an amendment shall have been executed and delivered by the Borrower, the
Administrative Agent and the Required Lenders, all financial covenants, standards and terms in this
Agreement shall continue to be calculated or construed as if such Accounting Changes had not
occurred. “Accounting Changes” refers to changes in accounting principles required by the
promulgation of any rule, regulation, pronouncement or opinion by the Financial Accounting
Standards Board of the American Institute of Certified Public Accountants or, if applicable, the
SEC.

          “Governmental Authority”: any nation or government, any state or other political
subdivision thereof, any agency, authority, instrumentality, regulatory body, court, central bank
or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative
functions of or pertaining to government, any securities exchange and any self-regulatory
organization (including the National Association of Insurance Commissioners).

          “Group Members”: the collective reference to Holdings, the Borrower and their
respective Subsidiaries.

          “Guarantee and Collateral Agreement”: the Guarantee and Collateral Agreement to be
executed and delivered by Holdings, the Borrower and each Subsidiary Guarantor, substantially in
the form of Exhibit A.

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          “Guarantee Obligation”: as to any Person (the “guaranteeing person”), any
obligation of (a) the guaranteeing person or (b) another Person (including any bank under any
letter of credit) to induce the creation of which the guaranteeing person has issued a
reimbursement, counterindemnity or similar obligation which (in the case of either clause (a) or
clause (b)), guarantees or has the effect of guaranteeing any Indebtedness, leases, dividends or
other obligations (the “primary obligations”) of any other third Person (the “primary
obligor”) in any manner, whether directly or indirectly, including any such obligation of the
guaranteeing person, whether or not contingent, (i) to purchase any such primary obligation or any
property constituting direct or indirect security therefor, (ii) to advance or supply funds (1) for
the purchase or payment of any such primary obligation or (2) to maintain working capital or equity
capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary
obligor, (iii) to purchase property, securities or services primarily for the purpose of
assuring the owner of any such primary obligation of the ability of the primary obligor to make
payment of such primary obligation or (iv) otherwise to assure or hold harmless the owner of any
such primary obligation against loss in respect thereof; provided, however, that
the term Guarantee Obligation shall not include endorsements of instruments for deposit or
collection in the ordinary course of business. The amount of any Guarantee Obligation of any
guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated or
determinable amount of the primary obligation in respect of which such Guarantee Obligation is made
and (b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms
of the instrument embodying such Guarantee Obligation, unless such primary obligation and the
maximum amount for which such guaranteeing person may be liable are not stated or determinable, in
which case the amount of such Guarantee Obligation shall be such guaranteeing person’s maximum
reasonably anticipated liability in respect thereof as determined by the Borrower in good faith.

          “Guarantors”: the collective reference to Holdings and the Subsidiary Guarantors.

          “Hedge Agreements”: any interest rate protection agreement, commodity price
protection agreement or other interest or currency exchange rate or commodity price hedging
arrangement.

          “Holdings”: as defined in the preamble to this Agreement.

          “Incremental Term Amount”: at any time, the excess, if any, of (a) $50,000,000 over
(b) the aggregate amount of all Incremental Term Commitments established after the First Amendment
Effective Date pursuant to Section 3.15.

          “Incremental Term Assumption Agreement”: an Incremental Term Assumption Agreement in
form and substance reasonably satisfactory to the Administrative Agent, among the Borrower, the
Administrative Agent and one or more Incremental Term Lenders.

          “Incremental Term Loan”: any Term Loan resulting from an Incremental Term Commitment
of any Incremental Term Lender.

          “Incremental Term Loan Yield”: as defined in Section 3.15(e).

          “Incremental Term Commitment”: the commitment of any Incremental Term Lender to
increase its Term Loan or fund additional term loans as permitted by Section 3.15.

          “Incremental Term Lender”: a Term Lender, Approved Fund or other Person that provides
an Incremental Term Commitment.

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          “Indebtedness”: of any Person at any date, without duplication, (a) all indebtedness
of such Person for borrowed money, (b) all obligations of such Person for the deferred purchase
price of property or services (other than current trade payables incurred in the ordinary course of
such Person’s business and Earnout Obligations), (c) all obligations of such Person evidenced by
notes, bonds, debentures or other similar instruments, (d) all indebtedness created or arising
under any conditional sale or other title retention agreement with respect to property acquired by
such Person (even though the rights and remedies of the seller or lender under such agreement in
the event of default are limited to repossession or sale of such property), (e) all Capital Lease
Obligations of such Person, (f) all obligations of such Person, contingent or otherwise, as an
account party or applicant under or in respect of acceptances, letters of credit or similar
arrangements, (g) all obligations of such Person, contingent or otherwise, to purchase, redeem,
retire or otherwise acquire for value any Capital Stock of such Person,
except an Excluded Redemption Obligation, (h) all Guarantee Obligations of such Person in
respect of obligations of others of the kind referred to in clauses (a) through (g) above, (i) all
obligations of the kind referred to in clauses (a) through (h) above secured by (or for which the
holder of such obligation has an existing right, contingent or otherwise, to be secured by) any
Lien on property (including accounts and contract rights) owned by such Person, whether or not such
Person has assumed or become liable for the payment of such obligation; provided that the
amount of such Indebtedness shall be limited to the lesser of such obligation and the value of the
property subject to such Lien if such Person has not assumed or become liable for the payment of
such obligation, (j) all preferred Capital Stock of any Subsidiary of such Person, and (k) for the
purposes of Sections 8.2 and 9(e) only, all obligations of such Person in respect of Hedge
Agreements, but in each case in the above clauses excluding obligations under operating leases and
obligations under employment contracts entered into in the ordinary course of business. The
Indebtedness of any Person shall include the Indebtedness of any other entity (including any
partnership in which such Person is a general partner) to the extent such Person is liable therefor
as a result of such Person’s ownership interest in or other relationship with such entity, except
to the extent the terms of such Indebtedness expressly provide that such Person is not liable
therefor.

          “Indemnified Liabilities”: as defined in Section 11.5.

          “Indemnitee”: as defined in Section 11.5.

          “Insolvency”: with respect to any Multiemployer Plan, the condition that such Plan is
insolvent within the meaning of Section 4245 of ERISA.

          “Insolvent”: pertaining to a condition of Insolvency.

          “Intellectual Property”: the collective reference to all rights, and privileges
relating to intellectual property, whether arising under United States, multinational or foreign
laws or otherwise, including copyrights, copyright licenses, patents, patent licenses, trademarks,
trademark licenses and technology, know-how, trade secrets and proprietary information of any type,
and all rights to sue at law or in equity for any infringement or other impairment thereof,
including the right to receive all proceeds and damages therefrom.

          “Intellectual Property Security Agreement”: the Intellectual Property Security
Agreement to be executed and delivered by each applicable Loan Party in accordance with Section
5.10 of the Guarantee and Collateral Agreement.

          “Interest Payment Date”: (a) as to any Base Rate Loan (other than any Swingline
Loan), the last day of each March, June, September and December to occur while such Loan is
outstanding and the final maturity date of such Loan, (b) as to any Eurodollar Loan having an
Interest Period of three

15

 

months or less, the last day of such Interest Period, (c) as to any
Eurodollar Loan having an Interest Period longer than three months, each day that is three months,
or a whole multiple thereof, after the first day of such Interest Period and the last day of such
Interest Period, (d) as to any Loan (other than any Revolving Loan that is a Base Rate Loan and any
Swingline Loan), the date of any repayment or prepayment made in respect thereof and (e) as to any
Swingline Loan, the day that such Loan is required to be repaid.

          “Interest Period”: as to any Eurodollar Loan, (a) initially, the period commencing on
the borrowing or conversion date, as the case may be, with respect to such Eurodollar Loan and
ending one, two, three or six or (if available to all Lenders under the relevant Facility) nine or
twelve months thereafter, as selected by the Borrower in its notice of borrowing or notice of
conversion, as the case may be, given with respect thereto; and (b) thereafter, each period
commencing on the last day of the next
preceding Interest Period applicable to such Eurodollar Loan and ending one, two, three or six
or (if available to all Lenders under the relevant Facility) nine or twelve months thereafter, as
selected by the Borrower by irrevocable notice to the Administrative Agent no later than 1:00 p.m.,
New York City time, on the date that is three Business Days prior to the last day of the then
current Interest Period with respect thereto; provided that, all of the foregoing
provisions relating to Interest Periods are subject to the following:

     (i) if any Interest Period would otherwise end on a day that is not a Business
Day, such Interest Period shall be extended to the next succeeding Business Day
unless the result of such extension would be to carry such Interest Period into
another calendar month in which event such Interest Period shall end on the
immediately preceding Business Day;

     (ii) the Borrower may not select an Interest Period under a particular Facility
that would extend beyond the Revolving Termination Date or beyond the date final
payment is due on the Term Loans, as applicable;

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

     (iv) the Borrower shall select Interest Periods so as not to require a payment
or prepayment of any Eurodollar Loan during an Interest Period for such Loan.

          “Investments”: as defined in Section 8.8.

          “Issuing Lender”: any financial institution designated by the L/C Lender as “Issuing
Lender” hereunder.

          “L/C Fee Payment Date”: the last day of each March, June, September and December and
the last day of the Revolving Commitment Period.

          “L/C Lender”: Bear Stearns Corporate Lending Inc., in its capacity as the party
responsible for causing the issuance of Letters of Credit hereunder.

16

 

          “L/C Obligations”: at any time, an amount equal to the sum of (a) the aggregate then
undrawn and unexpired amount of the then outstanding Letters of Credit and (b) the aggregate amount
of drawings under Letters of Credit that have not then been reimbursed pursuant to Section 3.11.

          “L/C Participants”: the collective reference to all the Revolving Lenders other than
the Issuing Lender.

          “L/C Subcommitment Amount”: $10,000,000.

          “Lead Arrangers”: as defined in the recitals to this Agreement.

          “Leasehold Cost Overruns”: means cost funded by the Borrower or one of its
Subsidiaries in connection with leasehold improvements financed by a lessor of any premises leased
by the Borrower or one of its Subsidiaries.

          “Lenders”: as defined in the preamble hereto; provided, that unless the
context otherwise requires, each reference herein to the Lenders shall be deemed to include any
Conduit Lender.

          “Letters of Credit”: as defined in Section 3.7(a).

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

          “Loan”: any loan made by any Lender pursuant to this Agreement.

          “Loan Documents”: this Agreement, the Security Documents, the Notes, each other
agreement and each other material certificate or document executed by any Group Member and
delivered to any Agent or any Lender pursuant to this Agreement or any Security Document.

          “Loan Parties”: each Group Member that is a party to a Loan Document.

          “Majority Facility Lenders”: with respect to any Facility, the holders of more than
50% of the aggregate unpaid principal amount of the Term Loans or the Revolving Extensions of
Credit, as the case may be, outstanding under such Facility (or, in the case of the Revolving
Facility, prior to any termination of the Revolving Commitments, the holders of more than 50% of
the Total Revolving Commitments and, in the case of the Term Loans prior to the expiration,
termination, or reduction in full of the unfunded Term Commitments, the holders of more than 50% of
(i) the aggregate unpaid principal amount of the Term Loans plus (ii) the aggregate
unfunded Term Commitments).

          “Management Advances”: promissory notes issued on an unsecured basis by Holdings to a
Management Investor in accordance with the Management Stock Agreements to fund all or a portion of
the purchase price paid in connection with the repurchase by Holdings or such Parent of its Capital
Stock from such Management Investor, if such repurchase is occasioned by the death, disability, or
retirement of such Management Investor.

          “Management Agreement”: the Financial Advisory Agreement, dated as of the Original
Closing Date, among Holdings, the Sponsor and the other parties thereto.

17

 

          “Management Investors”: present or former officers, employees or directors of a Group
Member who beneficially own outstanding capital stock of Holdings or any Parent.

          “Management Stock Agreements”: any subscription agreement or stockholders agreement
between Holdings or any Parent and any Management Investor.

          “Material Adverse Effect”: a material adverse effect on (a) as of the Original
Closing Date, the Acquisition or the financings thereof under this Agreement or the Senior
Unsecured Note Indenture or any other transactions relating to the Acquisition, (b) the business,
assets, property, financial condition or results of operations of the Group Members, taken as a
whole or (c) the validity or enforceability of this Agreement or any of the other Loan Documents or
the rights or remedies of the Agents or the Lenders hereunder or thereunder or the perfection or
priority of the Administrative Agent’s Liens on a material portion of the Collateral.

          “Material Environmental Amount”: an amount payable by the Borrower and/or its
Subsidiaries in excess of $3,500,000 for remedial costs, compliance costs, compensatory damages,
punitive damages, fines, penalties or any combination thereof pursuant to any Environmental Law.

          “Materials of Environmental Concern”: any gasoline or petroleum (including crude oil
or any fraction thereof) or petroleum products or any hazardous or toxic substances, materials or
wastes, defined, listed or regulated as such in or under any Environmental Law, including
polychlorinated biphenyls, urea-formaldehyde insulation, asbestos, pollutants, contaminants,
radioactivity, and any other substances that are regulated pursuant to or could give rise to
liability under any Environmental Law.

          “Merger”: the merger of Axle Merger Sub, Inc., with and into Insurance Auto Auctions,
Inc., in which Insurance Auto Auctions, Inc. is the surviving corporation, described in the Merger
Agreement.

          “Merger Agreement”: the Agreement and Plan of Merger dated as of February 22, 2005,
among Insurance Auto Auctions, Inc., Axle Holdings, Inc., and Axle Merger Sub, Inc. as amended,
modified and supplemented from time to time.

          “Mortgaged Properties”: the owned real properties listed on Schedule 1.1, as to which
the Administrative Agent for the benefit of the Secured Parties shall be granted a Lien pursuant to
the Mortgages.

          “Mortgages”: each of the mortgages, deeds to secure debts and deeds of trust made by
any Loan Party in favor of, or for the benefit of, the Administrative Agent for the benefit of the
Secured Parties, substantially in the form of Exhibit D (with such changes thereto as (a) shall be
advisable under the law of the jurisdiction in which such mortgage or deed of trust is to be
recorded and (b) do not have a significant adverse economic effect on any Loan Party), as amended,
modified, supplemented or extended from time to time.

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

          “Net Cash Proceeds”: (a) in connection with any Asset Sale or any Recovery Event, the
proceeds thereof in the form of cash (including any such proceeds received by way of deferred
payment of principal pursuant to a note or installment receivable or purchase price adjustment
receivable or by the Disposition of any non-cash consideration received in connection therewith or
otherwise, but only as and

18

 

when received, and Cash Equivalents at their maturity) of such Asset
Sale or Recovery Event, net of attorneys’ fees, accountants’ fees, investment banking fees, amounts
required to be applied to the repayment of Indebtedness secured by a Lien expressly permitted
hereunder on any asset that is the subject of such Asset Sale or Recovery Event (other than any
Lien pursuant to a Security Document) and other reasonable fees and expenses actually incurred in
connection therewith and net of taxes paid, payable or reasonably estimated to be payable as a
result thereof and (b) in connection with any issuance or sale of Capital Stock or any incurrence
of Indebtedness, the cash proceeds received from such issuance or incurrence, net of attorneys’
fees, investment banking fees, accountants’ fees, underwriting discounts and commissions and other
reasonable fees and expenses actually incurred in connection therewith; provided, that
amounts provided as a reserve, in accordance with GAAP, against any liability under any
indemnification obligations or purchase price adjustment associated with any of the foregoing shall
not constitute Net Cash Proceeds except to the extent and at the time any such amounts are released
from such reserve.

          “Non-Excluded Taxes”: as defined in Section 4.10(a).

          “Non-U.S. Lender”: as defined in Section 4.10(d).

          “Notes”: the collective reference to any promissory note evidencing Loans.

          “Obligations”: the unpaid principal of and interest on (including interest accruing
after the maturity of the Loans and Reimbursement Obligations and interest accruing after the
filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like
proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition
interest is allowed in such proceeding) the Loans and all other obligations and liabilities of the
Borrower to any Agent or to any Lender (or, in the case of Specified Hedge Agreements or Specified
Cash Management Arrangements, any Qualified Counterparty), whether direct or indirect, absolute or
contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out
of, or in connection with, this Agreement, any other Loan Document, the Letters of Credit, any
Specified Hedge Agreement, any Specified Cash Management Arrangements or any other document made,
delivered or given in connection herewith or therewith, whether on account of principal, interest,
reimbursement obligations, fees, indemnities, costs, expenses, overdraft charges (including all
reasonable fees, charges and disbursements of counsel to any Agent or to any Lender that are
required to be paid by the Borrower pursuant hereto) or otherwise; provided, that (i)
obligations of the Borrower or any Subsidiary under any Specified Hedge Agreement or Specified Cash
Management Arrangement shall be secured and guaranteed pursuant to the Security Documents only to
the extent that, and for so long as, the other Obligations are so secured and guaranteed and (ii)
any release of Collateral or Guarantors effected in the manner permitted by this Agreement shall
not require the consent of holders of obligations under Specified Hedge Agreements or Specified
Cash Management Arrangements.

          “Ohio Acquisition”: means the acquisition of all of the issued and outstanding
capital stock of Auto Disposal Systems, Inc., an Ohio corporation, by the Borrower pursuant to the
First Amendment Ohio Acquisition Documents.

          “Ohio Stock Purchase Agreement”: that certain Stock Purchase Agreement, dated as of
June 28, 2006 by and among the Borrower and the shareholders of Auto Disposal Systems, Inc. and
executed to effectuate the Ohio Acquisition.

          “Original Closing Date”: May 19, 2005.

19

 

          “Original Closing Date Pro Forma Balance Sheet”: as defined in Section 5.1(a).

          “Original Credit Agreement”: this Agreement as in effect immediately prior to the
First Amendment Effective Date.

          “Organizational Documents”: as to any Person, its certificate or articles of
incorporation and by-laws if a corporation, its partnership agreement if a partnership, its limited
liability company agreement if a limited liability company, or other organizational or governing
documents of such Person.

          “Other Taxes”: any and all present or future stamp or documentary taxes or any other
excise taxes, charges or similar levies arising from any payment made hereunder or from the
execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other
Loan Document.

          “Outstanding Term Loan Yield”: as defined in Section 3.15(e).

          “Parent”: Holdings and any other Person of which Holdings at any time is or becomes a
Subsidiary after the Original Closing Date.

          “Participant”: as defined in Section 11.6(c).

          “Patriot Act”: as defined in Section 11.18.

          “PBGC”: the Pension Benefit Guaranty Corporation established pursuant to Subtitle A
of Title IV of ERISA (or any successor).

          “Permitted Acquisition”: any acquisition by purchase or otherwise of all or
substantially all the business, assets or Capital Stock of any Person or a business unit of a
Person, or a brand or trademark and related assets, to the extent the aggregate consideration paid
by the Borrower and its Subsidiaries for such acquisition (including cash and indebtedness incurred
or assumed in connection with such acquisition) consists solely of any combination of:

               (a) Capital Stock of Holdings or any Parent;

               (b) cash in an amount equal to the Net Cash Proceeds of issuance and sale of Capital Stock of
Holdings or any Parent that is transferred to the Borrower as a contribution to its common equity
within 90 days prior to the date of the relevant acquisition;

               (c) any Available Retained ECF Amount; and

               (d) other cash or property and other Indebtedness (whether incurred or assumed) in an
aggregate amount which, when aggregated with all other amounts of such other cash and property paid
for acquisitions (other than with respect to the Ohio Acquisition) at any time after the First
Amendment Effective Date and all such other Indebtedness incurred or assumed in acquisitions (other
than with respect to the Ohio Acquisition) at any time after the First Amendment Effective Date,
does not exceed $80,000,000;

in each case if (i) no Default exists at the time of or results from such acquisition and (ii) the
Borrower delivers to the Administrative Agent a certificate of a Responsible Officer demonstrating
in reasonable detail that, on a pro-forma basis after giving effect to such acquisition and all
related transactions as if completed on the first day of the twelve month period ending on the last
day of the most recent fiscal

20

 

quarter for which the Borrower’s balance sheet has been delivered
(the “Test Date”), the Borrower would have been in compliance with Sections 8.1(a) and
8.1(b) on the Test Date, if such test date is September 30, 2005 or a later date, or (B) the
Consolidated Leverage Ratio would not have exceeded 6.25:1 if the Test Date is earlier than
September 30, 2005; provided, that, if the Borrower would have been in compliance as
specified in the foregoing clause (ii), the Borrower shall not be required to deliver such
certificate if the aggregate consideration paid for such Permitted Acquisition is less than
$3,000,000.

          “Permitted Investors”: the collective reference to the Sponsor, its Control
Investment Affiliates, any Management Investors and their respective Permitted Transferees.

          “Permitted Liens”: any Liens permitted by Section 8.3.

          “Permitted Transferees”: (a) in the case of the Sponsor, (i) any Control Investment
Affiliate of the Sponsor (collectively, “Sponsor Affiliates”), (ii) any managing director,
general partner, limited partner, director, officer or employee of the Sponsor or any Sponsor
Affiliate (collectively, the “Sponsor Associates”), (iii) the heirs, executors,
administrators, testamentary trustees, legatees or beneficiaries of any Sponsor Associate and (iv)
any trust, the beneficiaries of which, or a corporation or partnership, the stockholders or
partners of which, include only a Sponsor Associate, his or her spouse, parents, siblings, members
of his or her immediate family (including adopted children) and/or direct lineal
descendants; and (b) in the case of any Management Investors, (i) his or her heirs, executors,
administrators, testamentary trustees, legatees or beneficiaries, (ii) his or her spouse, parents,
siblings, members of his or her immediate family (including adopted children) or direct lineal
descendants or (iii) a trust, the beneficiaries of which, or a corporation or partnership, the
stockholders or partners of which, include only the Management Investor, as the case may be, and
his or her spouse, parents, siblings, members of his or her immediate family (including adopted
children) and/or direct lineal descendants.

          “Person”: an individual, partnership, corporation, limited liability company,
business trust, joint stock company, trust, unincorporated association, joint venture, Governmental
Authority or other entity of whatever nature.

          “Plan”: at a particular time, any employee pension benefit plan that is covered by
ERISA and in respect of which the Borrower or a Commonly Controlled Entity is (or, if such plan
were terminated at such time, would under Section 4069 of ERISA be deemed to be) an “employer” as
defined in Section 3(5) of ERISA.

          “Pledged Notes”: as defined in the Guarantee and Collateral Agreement.

          “Pledged Stock”: as defined in the Guarantee and Collateral Agreement.

          “Pricing Grids”: the pricing grids and related provisions attached hereto as Annex A.

          “Projections”: as defined in Section 7.2(c).

          “Properties”: as defined in Section 5.17(a).

          “Property”: any right or interest in or to property of any kind whatsoever, whether
real, personal or mixed and whether tangible or intangible, including Capital Stock.

          “Qualified Counterparty”: with respect to any Specified Hedge Agreement or Specified
Cash Management Arrangement, any counterparty thereto that, at the time such Specified Hedge

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Agreement or Specified Cash Management Arrangement was entered into, was a Lender or an affiliate
of a Lender.

          “Recovery Event”: any settlement of or payment in respect of any property or casualty
insurance claim or any condemnation proceeding relating to any asset of any Group Member, other
than (x) any such settlement or payment arising by reason of any loss of revenues or interruption
of business or operations caused thereby and (y) any such settlement or payment constituting
reimbursement or compensation for amounts previously paid by any Group Member in respect of the
theft, loss, destruction, damage or other similar event relating to any such claim or proceeding.

          “Register”: as defined in Section 11.6(b).

          “Regulation U”: Regulation U of the Board as in effect from time to time.

          “Reimbursement Obligation”: the obligation of the Borrower to reimburse the Issuing
Lender pursuant to Section 3.11 for amounts drawn under Letters of Credit.

          “Reinvestment Deferred Amount”: with respect to any Reinvestment Event, an amount
equal to the aggregate Net Cash Proceeds received by any Group Member in connection therewith that
are
not applied to prepay the Term Loans or reduce the Revolving Commitments pursuant to Section
4.2(c) as a result of the delivery of a Reinvestment Notice.

          “Reinvestment Event”: any Asset Sale or Recovery Event in respect of which the
Borrower has delivered a Reinvestment Notice.

          “Reinvestment Notice”: a written notice executed by a Responsible Officer stating
that no Event of Default has occurred and is continuing and that the Borrower (directly or
indirectly through a Subsidiary) intends to use an amount equal to all or a specified portion of
the Net Cash Proceeds of an Asset Sale or Recovery Event to acquire, improve or repair fixed or
capital assets useful in its business, or to complete a Permitted Acquisition.

          “Reinvestment Prepayment Amount”: with respect to any Reinvestment Event, the
Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant
Reinvestment Prepayment Date to acquire, improve or repair fixed or capital assets useful in the
Borrower’s business, to acquire a brand or trademark and related assets or to complete a Permitted
Acquisition.

          “Reinvestment Prepayment Date”: with respect to any Reinvestment Event, the earlier
of (a) the date occurring twelve months after the receipt by the Borrower of proceeds relating to
such Reinvestment Event (or the 180th day thereafter if the Reinvestment Event is a
project authorized by the board of directors of the Borrower prior to such date and the Borrower or
any of its Subsidiaries has entered into a contract to complete such project) and (b) the date on
which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire,
improve or repair fixed or capital assets useful in the Borrower’s business, acquire a brand or
trademark and related assets or complete a Permitted Acquisition with all or any portion of the
relevant Reinvestment Deferred Amount.

          “Related Agreements”: the Acquisition Documentation, the First Amendment Ohio
Acquisition Documents, the Senior Unsecured Notes Indenture, the Senior Unsecured Notes and each
other document executed in connection with the Senior Unsecured Notes.

22

 

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

          “Reorganization”: with respect to any Multiemployer Plan, the condition that such
plan is in reorganization within the meaning of Section 4241 of ERISA.

          “Reportable Event”: any of the events set forth in Section 4043(b) of ERISA, other
than those events as to which the thirty day notice period is waived
under subsections .27, .28, .29, .30, .31, .32, .34 or .35 of PBGC Reg. § 4043.

          “Required Lenders”: at any time, the holders of more than 50% of the sum of (i) the
aggregate unpaid principal amount of the Term Loans then outstanding, (ii) the unfunded Term
Commitments then in effect and (iii) the Revolving Commitments then in effect or, if the Revolving
Commitments have been terminated, the Revolving Extensions of Credit then outstanding.

          “Requirement of Law”: as to any Person, any law, treaty, rule or regulation or
determination of an arbitrator or a court or other Governmental Authority, in each case applicable
to or binding upon such Person or any of its property or to which such Person or any of its
property is subject.

          “Responsible Officer”: the chief executive officer, president or chief financial
officer of the Borrower, but in any event, with respect to financial matters, the chief financial
officer of the Borrower.

          “Restricted Payments”: as defined in Section 8.6.

          “Revolving Commitment”: as to any Lender, the obligation of such Lender, if any, to
make Revolving Loans and participate in Swingline Loans and Letters of Credit in an aggregate
principal and/or face amount not to exceed the amount of the Revolving Commitment held by such
Lender under the Original Credit Agreement immediately prior to the effectiveness of this Agreement
(which Revolving Commitment shall be continued hereunder) or the amount set forth in this Agreement
or in the Addendum or Assignment and Assumption pursuant to which such Lender became a party
hereto, as the same may be changed from time to time pursuant to the terms hereof. The original
amount of the Total Revolving Commitments is $50,000,000.

          “Revolving Commitment Period”: the period from and including the Original Closing
Date to the Revolving Termination Date.

          “Revolving Extensions of Credit”: as to any Revolving Lender at any time, an amount
equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender
then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding
and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans
then outstanding.

          “Revolving Lender”: each Lender that has a Revolving Commitment or that holds
Revolving Loans.

          “Revolving Loans”: as defined in Section 3.1(a).

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          “Revolving Percentage”: as to any Revolving Lender at any time, the percentage which
such Lender’s Revolving Commitment then constitutes of the Total Revolving Commitments (or, at any
time after the Revolving Commitments shall have expired or terminated, the percentage which the
aggregate principal amount of such Lender’s Revolving Loans then outstanding constitutes of the
aggregate principal amount of the Revolving Loans then outstanding).

          “Revolving Termination Date”: the earlier of (a) the sixth anniversary of the
Original Closing Date and (b) the date on which the Revolving Commitments are terminated pursuant
to any provision of this Agreement.

          “SEC”: the Securities and Exchange Commission, any successor thereto and otherwise
any analogous Governmental Authority.

          “Secured Obligations”: in the case of the Borrower, the Obligations and in the case
of any other Loan Party, the obligations of such Loan Party under the Guaranty and Collateral
Agreement and the other Loan Documents to which it is a party.

          “Secured Parties”: as defined in the Guarantee and Collateral Agreement.

          “Security Documents”: the collective reference to the Guarantee and Collateral
Agreement, the Intellectual Property Security Agreements ,the Mortgages and all other security
documents hereafter delivered to the Administrative Agent granting a Lien on any property of
any Person to secure the obligations and liabilities of any Loan Party under any Loan Document.

          “Senior Unsecured Note Indenture”: the Indenture, dated as of April 1, 2005 entered
into by IAAI Finance Corp., in connection with the issuance of the Senior Unsecured Notes.

          “Senior Unsecured Note Proceeds Escrow”: the funds deposited in escrow pursuant to
the Escrow Agreement (the “Escrow Agreement”), dated as of April 1, 2005, among IAAI
Finance Corp., Wells Fargo Bank, National Association, as Escrow Agent, and Wells Fargo Bank,
National Association, as trustee under the Senior Unsecured Note Indenture.

          “Senior Unsecured Notes”: the collective reference to (a) the senior unsecured notes
of IAAI Finance Corp. issued on April 1, 2005 pursuant to the Senior Unsecured Note Indenture and
any Exchange Notes (as defined in the Senior Unsecured Note Indenture) issued in exchange therefore
and (b) up to $50,000,000 aggregate principal amount of “Additional Notes” (defined in the Senior
Unsecured Note Indenture) issued from time to time after the Original Closing Date and any Exchange
Notes issued in exchange for such Additional Notes (defined in the Senior Unsecured Note
Indenture).

          “Single Employer Plan”: any Plan that is covered by Title IV of ERISA, but that is
not a Multiemployer Plan.

          “Solvent”: with respect to any Person, as of any date of determination, (a) the
amount of the “present fair saleable value” of the assets of such Person will, as of such date,
exceed the amount of all “liabilities of such Person, contingent or otherwise”, as of such date, as
such quoted terms are determined in accordance with applicable federal and state laws governing
determinations of the insolvency of debtors, (b) the present fair saleable value of the assets of
such Person will, as of such date, be greater than the amount that will be required to pay the
liability of such Person on its debts as such debts become absolute and matured, (c) such Person
will not have, as of such date, an unreasonably small amount of capital with which to conduct its
business, and (d) such Person will be able to pay its debts as

24

 

they mature. For purposes of this
definition, (i) “debt” means liability on a “claim”, and (ii) “claim” means any (x) right to
payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed,
contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (y)
right to an equitable remedy for breach of performance if such breach gives rise to a right to
payment, whether or not such right to an equitable remedy is reduced to judgment, fixed,
contingent, matured or unmatured, disputed, undisputed, secured or unsecured.

          “Specified Cash Management Arrangement”: any arrangement for treasury, depositary or
cash management services provided to the Borrower or any of its Subsidiaries by a Qualified
Counterparty in connection with any transfer or disbursement of funds through an automated
clearinghouse or on a same day or immediate or accelerated availability basis that has been
designated as a Specified Cash Management Arrangement. The designation by the Borrower of any such
arrangement as a Specified Cash Management Arrangement shall not create in favor of the Qualified
Counterparty that is a party thereto any rights in connection with the management, enforcement or
release of any Collateral or any claim against any Guarantor under the Guarantee and Collateral
Agreement.

          “Specified Change of Control”: a “Change of Control” (or any other defined term
having a similar purpose) as defined in the Senior Unsecured Note Indenture.

          “Specified Hedge Agreement”: any Hedge Agreement between the Borrower or any of its
Subsidiaries and any Qualified Counterparty that has been designated as a Specified Hedge
Agreement. The designation by the Borrower of any Hedge Agreement as a Specified Hedge Agreement
(a) shall constitute a representation and warranty by the Borrower that such Hedge Agreement
is permitted by Section 8.12 (upon which such Qualified Counterparty shall be entitled to rely
conclusively) and (b) shall not create in favor of the Qualified Counterparty that is a party
thereto any rights in connection with the management, enforcement or release of any Collateral or
any claim against any Guarantor under the Guarantee and Collateral Agreement except to the extent
expressly set forth in the Guarantee and Collateral Agreement.

          “Sponsor”: Kelso & Company, L.P.

          “Subsidiary”: as to any Person, a corporation, partnership, limited liability company
or other entity of which shares of stock or other ownership interests having ordinary voting power
(other than stock or such other ownership interests having such power only by reason of the
happening of a contingency) to elect a majority of the board of directors or other managers of such
corporation, partnership or other entity are at the time owned, or the management of which is
otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such
Person. Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this
Agreement shall refer to a Subsidiary or Subsidiaries of the Borrower.

          “Subsidiary Guarantor”: each Subsidiary of the Borrower other than IAAI Finance Corp.
and any Foreign Subsidiary.

          “Swingline Commitment Amount”: $10,000,000.

          “Swingline Lender”: Bear Stearns Corporate Lending Inc., in its capacity as the
lender of Swingline Loans.

          “Swingline Loans”: as defined in Section 3.3(a).

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          “Swingline Participation Amount”: as defined in Section 3.4(c).

          “Syndication Agent”: as defined in the preamble to this Agreement.

          “Term Commitment”: as to any Lender, the obligation of such Lender, if any, to make a
Term Loan to the Borrower hereunder in a principal amount not to exceed the amount set forth in
this Agreement or in the Addendum or Assignment and Assumption pursuant to which such Lender became
a party hereto, as the same may be changed from time to time pursuant to the terms hereof. The
aggregate amount of the Term Commitments as of the First Amendment Effective Date is $230,000,000
of which $195,000,000 shall be deemed funded on the First Amendment Effective Date and $35,000,000
shall be deemed unfunded Term Commitments. The term “Term Commitment” shall include any Additional
Term Loan Commitment. The amount of the Term Commitments shall be deemed reduced on a
dollar-for-dollar basis by the amount of (i) Existing Term Loans converted hereunder, (ii)
Additional Term Loans funded on or after the date hereof, and (iii) all reductions, terminations or
expirations of Term Commitments in accordance with the terms of this Agreement.

          “Term Lender”: each Lender that has a Term Commitment or that holds a Term Loan.

          “Term Loan”: the Converted Term Loans, all Additional Term Loans and all Incremental
Term Loans (if any), taken together as a single class.

          “Term Loan Percentage”: a fraction, the numerator of which is the aggregate amount of
each Term Lender’s outstanding Term Loans on the First Amendment Effective Date and the denominator
of which is such Lender’s aggregate Term Commitments.

          “Term Percentage”: as to any Term Lender at any time, the percentage which such
Lender’s Term Commitment then constitutes of the aggregate Term Commitments (or, at any time after
the funding of the Term Loans, the percentage which the aggregate principal amount of such Lender’s
Term Loans then outstanding constitutes of the aggregate principal amount of the Term Loans then
outstanding).

          “Third Party Assignee” as defined in Section 11.6.

          “Total Revolving Commitments”: at any time, the aggregate amount of the Revolving
Commitments then in effect.

          “Total Revolving Extensions of Credit”: at any time, the aggregate amount of the
Revolving Extensions of Credit outstanding at such time.

          “Transferee”: any Assignee or Participant.

          “Type”: as to any Loan, its nature as a Base Rate Loan or a Eurodollar Loan.

          “United States”: the United States of America.

          “Wholly Owned Subsidiary”: as to any Person, any other Person all of the Capital
Stock of which (other than directors’ qualifying shares required by law or de minimis shares held
by nominees or others as required by law) is owned by such Person directly and/or through other
Wholly Owned Subsidiaries.

26

 

          “Wholly Owned Subsidiary Guarantor”: any Subsidiary Guarantor that is a Wholly Owned
Subsidiary of the Borrower.

          1.2.
Other Definitional Provisions. (a) Unless otherwise specified therein, all
terms defined in this Agreement shall have the defined meanings when used in the other Loan
Documents or any certificate or other document made or delivered pursuant hereto or thereto.

               (b) As used herein and in the other Loan Documents, and any certificate or other document made
or delivered pursuant hereto or thereto, (i) accounting terms relating to any Group Member not
defined in Section 1.1 and accounting terms partly defined in Section 1.1, to the extent not
defined, shall have the respective meanings given to them under GAAP, (ii) the words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”, (iii)
the word “incur” shall be construed to mean incur, create, issue, assume, become liable in respect
of or suffer to exist (and the words “incurred” and “incurrence” shall have correlative meanings),
and (iv) the words “asset” and “property” shall be construed to have the same meaning and effect
and to refer to any and all tangible and intangible assets and properties of every type and nature
and (v) references to agreements or other Contractual Obligations shall, unless otherwise
specified, be deemed to refer to such agreements or Contractual Obligations as amended,
supplemented, restated or otherwise modified from time to time (subject to any applicable
restrictions hereunder).

               (c) 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, Schedule and Exhibit references are to this Agreement unless otherwise
specified.

               (d) The meanings given to terms defined herein shall be equally applicable to both the
singular and plural forms of such terms.

               (e) The expressions “payment in full,” “paid in full” and any other similar terms or phrases
when used herein with respect to any Obligation shall mean the payment in full of such Obligation
in cash in immediately available funds.

SECTION 2. AMOUNT AND TERMS OF TERM COMMITMENTS

          2.1. Term Commitments. On the Original Closing Date, each Term Lender then a party to
the Original Credit Agreement made a Term Loan thereunder to the Borrower in an amount equal to its
Term Percentage (as of such date and calculated in accordance with the definition of such term
under the Original Credit Agreement) of $115,000,000. Subject to the terms and conditions hereof,
on the First Amendment Effective Date, each Additional Term Lender that has delivered an Additional
Term Loan Commitment for Term Loans to be made on the First Amendment Effective Date severally
agrees to make an Additional Term Loan to the Borrower on the First Amendment Effective Date in an
amount equal to its proportionate share, based on all Effective Date Additional Term Loan
Commitments. Subject to the terms and conditions hereof, each Additional Term Lender that has
delivered an Additional Term Loan Commitment for Term Loans to be made on any date after the First
Amendment Effective Date (each, a “Delayed Draw Date”) that is prior to the Delayed Draw
Availability Expiration Date shall make an Additional Term Loan to the Borrower on such Delayed
Draw Date in an amount equal to the lesser of (i) its remaining unfunded Additional Term Loan
Commitment and (ii) its proportionate share, based on all such unfunded Additional Term Loan
Commitments, of $35,000,000; provided, however, that there shall be no more than
three (3) Delayed Draw Dates. The Term Loans shall be either

27

 

Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections
2.2 and 4.3.

          2.2. Procedure for Term Loan Borrowing. The Borrower shall give the Administrative
Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 1:00
p.m., New York City time, (a) one Business Day prior to the Original Closing Date or the
anticipated First Amendment Effective Date or Delayed Draw Date (as applicable) in the case of Base
Rate Loans and (b) three Business Days prior to the Original Closing Date or the anticipated First
Amendment Effective Date or Delayed Draw Date (as applicable) in the case of Eurodollar Loans)
requesting that the Term Lenders make the Term Loans on the Original Closing Date, the First
Amendment Effective Date or Delayed Draw Date, as the case may be, and specifying the amount to be
borrowed. Upon receipt of such notice the Administrative Agent shall promptly notify each Term
Lender thereof. Not later than 1:00 p.m., New York City time, on the Original Closing Date, the
First Amendment Effective Date or the Delayed Draw Date, as applicable, each Term Lender shall make
available to the Administrative Agent at the Funding Office an amount in immediately available
funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent
shall credit the account of the Borrower on the books of such office of the Administrative Agent
with the aggregate of the amounts made available to the Administrative Agent by the Term Lenders in
immediately available funds.

          2.3. Conversion of Existing Term Loans. Each Converting Term Lender severally agrees
that, upon the First Amendment Effective Date, such Converting Lender’s Existing Term Loans shall
be converted into Converted Term Loans in the amount set forth in its Conversion Notice and shall
constitute, with all Additional Term Loans, outstanding Term Loans.

          2.4. Repayment of Term Loans. The Term Loan of each Term Lender shall mature and be
payable in full on the date that is seven years after the Original Closing Date and shall be
repayable prior to that date in consecutive quarterly installments, each of which shall be in an
amount equal to such Lender’s Term Percentage of 0.25% of the aggregate Term Commitments on the
First Amendment Effective Date, less the amount of Term Commitments canceled, reduced or terminated
on or before the Delayed Draw Availability Expiration Date, due commencing on December 31, 2006 and
continuing on the last day of each consecutive March, June, September and December thereafter.

          2.5. First Amendment Effective Date True-Up. On the First Amendment Effective Date,
the Administrative Agent shall apportion (a) the aggregate outstanding Converted Term Loans and
Additional Term Loans funded on the First Amendment affective date and (b) the aggregate remaining
unfunded Term Loan Commitments individually to each Term Lender such that, on the First Amendment
Effective Date, each Term Lender’s Term Loan Percentage is equal to the Funding True-Up Percentage.
All amounts applied to reduced the Term Loans outstanding to any Converted Term Lender to
effectuate such apportionment (i) may be reborrowed, subject to the terms and conditions applicable
to a borrowing of Delayed Draw Term Loans hereunder, and (ii) shall be payable with any
indemnification due under Section 4.11.

SECTION 3. AMOUNT AND TERMS OF REVOLVING COMMITMENTS

          3.1.
Revolving Commitments. (a) Subject to the terms and conditions hereof, each
Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans”) to the
Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount
at any one time outstanding which, when added to such Lender’s Revolving Extensions of Credit then
outstanding, does not exceed the amount of such Lender’s Revolving Commitment. Revolving Loans
that are repaid

28

 

may be reborrowed during the Revolving Commitment Period, subject to the terms and
conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or Base Rate
Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with
Sections 3.2 and 4.3.

               (b) The Borrower shall repay all outstanding Revolving Loans on the Revolving Termination
Date.

          3.2. Procedure for Revolving Loan Borrowing. The Borrower may borrow under the
Revolving Commitments during the Revolving Commitment Period on any Business Day; provided
that the Borrower shall give the Administrative Agent irrevocable notice, which must be received by
the Administrative Agent prior to 1:00 p.m., New York City time, (a) three Business Days prior to
the requested Borrowing Date, in the case of Eurodollar Loans, or (b) one Business Day prior to the
requested Borrowing Date, in the case of Base Rate Loans
and which shall specify (i) the amount and Type of Revolving Loans to be borrowed, (ii) the
requested Borrowing Date and (iii) in the case of Eurodollar Loans, the respective amounts of each
such Type of Loan and the respective lengths of the initial Interest Period therefor. Each
borrowing under the Revolving Commitments shall be in an amount equal to (x) in the case of Base
Rate Loans, $250,000 or a whole multiple thereof and (y) in the case of Eurodollar Loans,
$1,000,000 or a whole multiple of $250,000 in excess thereof. Upon receipt of any such notice from
the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each
Revolving Lender will make the amount of its pro rata share of each borrowing available to the
Administrative Agent for the account of the Borrower at the Funding Office prior to 12:00 Noon, New
York City time, on the Borrowing Date requested by the Borrower in funds immediately available to
the Administrative Agent. Such amounts will then be made available to the Borrower by the
Administrative Agent crediting an account of the Borrower maintained by the Administrative Agent,
in like amounts and funds as received by the Administrative Agent.

          3.3. Swingline Commitment. (a) Subject to the terms and conditions hereof, the
Swingline Lender agrees to make a portion of the credit otherwise available to the Borrower under
the Revolving Commitments from time to time during the Revolving Commitment Period by making swing
line loans (“Swingline Loans”) to the Borrower; provided, that (i) the aggregate
principal amount of Swingline Loans outstanding at any time shall not exceed the Swingline
Commitment Amount, (ii) the Borrower shall not request any Swingline Loan if, after giving effect
to the making of such Swingline Loan, the aggregate amount of the Available Revolving Commitments
would be less than zero, and (iii) the Swingline Lender shall not be required to make any Swingline
Loans under this Section 3.3 at any time when an Event of Default has occurred and is continuing.
Subject to the foregoing, Swingline Loans may be repaid and reborrowed from time to time.

               (b) Swingline Loans shall be Base Rate Loans only.

               (c) The Borrower shall repay all outstanding Swingline Loans (i) on each Borrowing Date for
Revolving Loans, (ii) on the Revolving Termination Date and (iii) on demand by the Swingline Lender
at any time when an Event of Default has occurred and is continuing.

          3.4. Procedure for Swingline Borrowing; Refunding of Swingline Loans. (a)
Whenever the Borrower desires that the Swingline Lender make Swingline Loans it shall give the
Swingline Lender irrevocable telephonic notice confirmed promptly in writing (which telephonic
notice must be received by the Swingline Lender not later than 1:00 P.M., New York City time, on
the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested
Borrowing Date (which shall be a Business Day during the Revolving Commitment Period). Each
borrowing of Swingline Loans shall be in an amount equal to $100,000 or a whole multiple of
$100,000 in excess thereof. Not later than

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3:00 P.M., New York City time, on the Borrowing Date
specified in a notice in respect of Swingline Loans, the Swingline Lender shall make available to
the Administrative Agent at the Funding Office an amount in immediately available funds equal to
the amount of the Swingline Loan to be made by the Swingline Lender. The Administrative Agent
shall make the proceeds of such Swingline Loan available to the Borrower on such Borrowing Date by
depositing such proceeds in the account of the Borrower with the Administrative Agent on such
Borrowing Date in immediately available funds.

               (b) The Swingline Lender may at any time, on behalf of the Borrower (which hereby irrevocably
authorizes the Swingline Lender to do so), request a borrowing of Revolving
Loans in an amount equal to the aggregate outstanding Swingline Loans and apply the proceeds
of such borrowing to the repayment of the Swingline Loans. Each Revolving Lender agrees to fund
its Revolving Percentage of any such borrowing so requested in immediately available funds, not
later than 10:00 a.m., New York City time, on the first Business Day after the date of such
borrowing is requested. The proceeds of such Revolving Loans shall immediately be made available
by the Administrative Agent to the Swingline Lender for application to the repayment of Swingline
Loans. The Borrower agrees to pay, and irrevocably authorizes the Swingline Lender and
Administrative Agent to charge the Borrower’s accounts with the Swingline Lender or Administrative
Agent as necessary to pay, all outstanding Swingline Loans to the extent amounts received from the
Revolving Lenders upon any such request are not sufficient to repay the outstanding Swingline
Loans.

               (c) If the Swingline Lender at any time determines that it is precluded from making a request
for a borrowing of Revolving Loans pursuant to Section 3.4(b), whether by reason of the occurrence
of a Default described in Section 9(f) or otherwise for any reason, each Revolving Lender hereby
purchases from the Swingline Lender an undivided participating interest in the then outstanding
Swingline Loans (a “Swingline Participation Amount”) and shall promptly upon demand of the
Swingline Lender complete such purchase at par by paying to the Swingline Lender an amount equal to
such Revolving Lender’s Revolving Percentage of the aggregate outstanding Swingline Loans.

               (d) Whenever, at any time after the Swingline Lender has received from any Revolving Lender
such Lender’s Swingline Participation Amount, the Swingline Lender receives any payment on account
of the Swingline Loans, the Swingline Lender will distribute to such Lender its Swingline
Participation Amount (appropriately adjusted, in the case of interest payments, to reflect the
period of time during which such Lender’s participating interest was outstanding and funded and, in
the case of principal and interest payments, to reflect such Lender’s pro rata
portion of such payment if such payment is not sufficient to pay the principal of and interest on
all Swingline Loans then due); provided, that if any such payment is required to be
returned, such Revolving Lender will return to the Swingline Lender any portion thereof previously
distributed to it by the Swingline Lender.

               (e) Each Revolving Lender’s obligation to make the Loans referred to in Section 3.4(b) and to
purchase participating interests pursuant to Section 3.4(c) shall be absolute and unconditional and
shall not be affected by any circumstance, including (i) any setoff, counterclaim, recoupment,
defense or other right that such Revolving Lender or the Borrower may have against the Swingline
Lender, the Borrower or any other Person for any reason whatsoever; (ii) the occurrence or
continuance of any Default or the failure to satisfy any of the conditions specified in Section 6;
(iii) any adverse change in the condition (financial or otherwise) of the Borrower; (iv) any breach
of this Agreement or any other Loan Document by the Borrower, any other Loan Party or any other
Revolving Lender; or (v) any other circumstance, happening or event whatsoever, whether or not
similar to any of the foregoing.

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          3.5. Commitment Fees, etc. (a) The Borrower agrees to pay to the Administrative
Agent for the account of each Revolving Lender a commitment fee for the period from and including
the Original Closing Date to the last day of the Revolving Commitment Period, computed at the
Commitment Fee Rate on the average daily amount of the Available Revolving Commitment of such
Lender during the period for which payment is made, payable quarterly in arrears on the last day of
each March, June, September and December and on the Revolving Termination Date, commencing on the
first of such dates to occur after the Original Closing Date.

               (b) The Borrower agrees to pay to the Administrative Agent for the account of each Term Lender
having an unfunded Additional Term Loan Commitment, a commitment fee for the period from and
including the First Amendment Effective Date to the Delayed Draw Availability Expiration Date,
computed at the Commitment Fee Rate on the average daily amount of the Available Additional Term
Commitment of such Lender during the period for which payment is made, payable quarterly in arrears
on the last day of each March, June, September and December, and on the Delayed Draw Availability
Expiration Date, commencing on the first of such dates to occur after the First Amendment Effective
Date.

               (c) The Borrower agrees to pay to the Agents the fees in the amounts and on the dates agreed
to in writing by the Borrower and the Administrative Agent.

          3.6. Termination or Reduction of Commitments. The Borrower shall have the right, upon
not less than three Business Days’ notice to the Administrative Agent, to terminate the Revolving
Commitments or, from time to time, to reduce the amount of the Revolving Commitments;
provided that no such termination or reduction of Revolving Commitments shall be permitted
if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans
made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total
Revolving Commitments. Any such reduction shall be in an amount equal to $500,000, or a whole
multiple thereof or the Total Revolving Commitment, and shall reduce permanently the Revolving
Commitments then in effect. The Borrower shall also have the right, upon not less than three
Business Days’ notice to the Administrative Agent, to terminate all or a portion of the unfunded
Additional Term Loan Commitments; provided that any partial termination shall be in an
amount at least equal to $500,000 or a whole multiple thereof.

          3.7. Letter of Credit Subcommitment. (a) Subject to the terms and conditions
hereof, the L/C Lender, in reliance on the agreements of the other Revolving Lenders set forth in
Section 3.10(a), agrees to cause the Issuing Lender to issue, on a sight basis, letters of credit
(“Letters of Credit”) for the account of the Borrower on any Business Day at any time and
from time to time during the Revolving Commitment Period, in such form as may be customarily used
from time to time by the Issuing Lender or in such other form as may be reasonably satisfactory to
the L/C Lender and the Issuing Lender; provided, that the L/C Lender shall have no
obligation to cause any Letter of Credit to be issued if, after giving effect to such issuance, (i)
the L/C Obligations would exceed the L/C Subcommitment Amount or (ii) the aggregate amount of the
Available Revolving Commitments would be less than zero. Each Letter of Credit shall be
denominated in Dollars and expire no later than the earlier of (i) the first anniversary of its
date of issuance and (ii) the date that is five Business Days prior to the Revolving Termination
Date; provided that any Letter of Credit with a one-year term may provide, with the consent
of the L/C Lender and the Issuing Lender, for the automatic renewal thereof for additional periods
of up to one year (which shall in no event extend beyond the date referred to in clause (ii) above
without the consent of the L/C Lender and the Issuing Lender). If, as of the Revolving Termination
Date, any Letter of Credit for any reason remains outstanding, the Borrower shall, in each case,
immediately Cash Collateralize the then outstanding amount of all Letters of Credit;
provided, that all such Cash Collateral or Backstop L/Cs (each as defined below) shall be
denominated in Dollars. For purposes of this Section 3.07, “Cash

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Collateralize” shall
mean to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the L/C
Lender, the Issuing Lender and the Lenders, as collateral for the L/C Obligations, cash or deposit
account balances (“Cash Collateral”) or one or more backstop letters of credit in form and
substance acceptable to, and issued by financial institutions reasonably acceptable to the L/C
Lender (each such letter of credit, a “Backstop L/C”) pursuant to documentation in form and
substance reasonably satisfactory to the Administrative Agent and the L/C Lender (which documents are
hereby consented to by the Lenders). Derivatives of such above defined terms shall have
corresponding meanings.

               (b) L/C Lender shall not at any time be obligated to cause any Letter of Credit to be issued
hereunder if such issuance would conflict with, or cause the L/C Lender, Issuing Lender or any L/C
Participant to exceed any limits imposed by, any applicable Requirement of Law.

          3.8. Procedure for Issuance of Letter of Credit. (a) The Borrower may from time
to time request that the L/C Lender cause a Letter of Credit to be issued by delivering to the L/C
Lender at its address for notices specified herein, an Application therefor, completed to the
reasonable satisfaction of the L/C Lender, and such other certificates, documents and other papers
and information as the Issuing Lender may reasonably request. Upon receipt of any Application, the
L/C Lender will notify the Administrative Agent of the amount, the beneficiary and the requested
expiration of the requested Letter of Credit, and upon receipt of confirmation from the
Administrative Agent that after giving effect to the requested issuance, the Available Revolving
Commitments would not be less than zero, the L/C Lender will cause such Application and the
certificates, documents and other papers and information delivered to it in connection therewith to
be processed by the L/C Lender and the Issuing Lender in accordance with their respective customary
procedures and shall cause the Issuing Lender to promptly issue the Letter of Credit requested
thereby (but in no event shall the L/C Lender be required to cause any Letter of Credit to be
issued earlier than three Business Days after its receipt of the Application therefor and all such
other certificates, documents and other papers and information relating thereto) by causing the
original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by
the Issuing Lender and the Borrower. The L/C Lender shall furnish a copy of such Letter of Credit
to the Borrower (with a copy to the Administrative Agent) promptly following the issuance thereof.
The L/C Lender shall promptly furnish to the Administrative Agent which shall in turn promptly
furnish to the Lenders, notice of the issuance of each Letter of Credit (including the amount
thereof).

               (b) The making of each request for a Letter of Credit by the Borrower shall be deemed to be a
representation and warranty by the Borrower that such Letter of Credit may be issued in accordance
with, and will not violate the requirements of, Section 3.7(a) or any Requirement of Law applicable
to the Loan Parties. Unless the L/C Lender has received notice from the Administrative Agent
before it causes a Letter of Credit to be issued that one or more of the applicable conditions
specified in Section 6.2 are not satisfied, or that the issuance of such Letter of Credit would
violate Section 3.7, then the L/C Lender may cause the requested Letter of Credit to be issued for
the account of the Borrower in accordance with the usual and customary practices of each of the L/C
Lender and the Issuing Lender.

          3.9. Fees and Other Charges. (a) The Borrower will pay a fee on the face amount
of all outstanding Letters of Credit at a per annum rate equal to the Applicable Margin then in
effect with respect to Eurodollar Loans under the Revolving Facility, shared ratably among the
Revolving Lenders and payable quarterly in arrears on each L/C Fee Payment Date after the issuance
date. In addition, the Borrower shall pay to the L/C Lender for its own account a fronting fee on
the undrawn and unexpired amount of each Letter of Credit computed at the rate of 0.25% per annum
and payable quarterly in arrears on each L/C Fee Payment Date.

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               (b) In addition to the foregoing fees, the Borrower shall pay or reimburse the L/C Lender and
the Issuing Lender, as the case may be, for such normal and customary costs and
expenses as are incurred or charged by the Issuing Lender in issuing, negotiating, effecting
payment under, amending or otherwise administering any Letter of Credit.

          3.10. L/C Participations. (a) The L/C Lender irrevocably agrees to grant and
hereby grants to each L/C Participant, and, to induce the L/C Lender to cause Letters of Credit to
be issued hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby
accepts and purchases from the L/C Lender, on the terms and conditions set forth below, for such
L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s
Revolving Percentage in the L/C Lender’s obligations and rights under and in respect of each Letter
of Credit issued hereunder and the amount of each draft paid by the Issuing Lender thereunder
(which shall include the L/C Lender’s obligation to reimburse such applicable Issuing Lender for
the amount of such drawing). Each L/C Participant unconditionally and irrevocably agrees with the
L/C Lender that, if a draft is paid under any Letter of Credit for which the L/C Lender is not
reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C
Participant shall pay to the Administrative Agent upon demand of the L/C Lender an amount equal to
such L/C Participant’s Revolving Percentage of the amount of such draft, or any part thereof, that
is not so reimbursed. The Administrative Agent shall promptly forward such amounts to the L/C
Lender.

               (b) If any amount required to be paid by any L/C Participant to the Administrative Agent for
the account of the L/C Lender pursuant to Section 3.10(a) in respect of any unreimbursed portion of
any payment made by L/C Lender to the Issuing Lender under any Letter of Credit is paid to the
Administrative Agent for the account of the L/C Lender within three Business Days after the date
such payment is due, such L/C Participant shall pay to the Administrative Agent for the account of
the L/C Lender on demand an amount equal to the product of (i) such amount, times (ii) the daily
average Federal Funds Effective Rate during the period from and including the date such payment is
required to the date on which such payment is immediately available to the L/C Lender, times (iii)
a fraction the numerator of which is the number of days that elapse during such period and the
denominator of which is 360. If any such amount required to be paid by any L/C Participant
pursuant to Section 3.10(a) is not made available to the Administrative Agent for the account of
the Issuing Lender by such L/C Participant within three Business Days after the date such payment
is due, the L/C Lender shall be entitled to recover from such L/C Participant, on demand, such
amount with interest thereon calculated from such due date at the rate per annum applicable to Base
Rate Loans under the Revolving Facility. A certificate of the L/C Lender submitted to any L/C
Participant with respect to any amounts owing under this Section shall be conclusive in the absence
of manifest error.

               (c) Whenever, at any time after the L/C Lender has made payment under any Letter of Credit and
has received from any L/C Participant its pro rata share of such payment in
accordance with Section 3.10(a), the Administrative Agent or the L/C Lender receives any payment
related to such Letter of Credit (whether directly from the Borrower or otherwise, including
proceeds of collateral applied thereto by the L/C Lender), or any payment of interest on account
thereof, the Administrative Agent or the L/C Lender, as the case may be, will distribute to such
L/C Participant its pro rata share thereof; provided, that if any such
payment received by Administrative Agent or the L/C Lender, as the case may be, shall be required
to be returned by the Administrative Agent or the L/C Lender, such L/C Participant shall return to
the Administrative Agent for the account of the L/C Lender the portion thereof previously
distributed to such L/C Participant.

          3.11. Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse the L/C Lender on the same Business Day on which the L/C
Lender notifies the Borrower of the date and

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amount of a draft presented under any Letter of Credit
and paid by the L/C Lender or on the next Business Day, if such notice is received any time after
11:00 a.m., New York time on such Business Day for the amount of such draft so paid. Each such
payment shall be made to the L/C Lender at its address for notices referred to herein in Dollars
and in immediately available funds. Interest shall be payable on any such amounts from the date on
which the relevant draft is paid until payment in full at the rate set forth in (i) until the
Business Day next succeeding the date of the relevant notice, Section 4.5(b) and (ii) thereafter,
Section 4.5(c).

          3.12. Obligations Absolute. The Borrower’s obligations under Section 3.11 shall be
absolute and unconditional under any and all circumstances and irrespective of any setoff,
counterclaim or defense to payment that the Borrower may have or have had against the L/C Lender,
the Issuing Lender, any beneficiary of a Letter of Credit or any other Person. The Borrower also
agrees with the L/C Lender that the L/C Lender shall not be responsible for, and the Borrower’s
Reimbursement Obligations under Section 3.11 shall not be affected by, among other things, the
validity or genuineness of documents or of any endorsements thereon, even though such documents
shall in fact prove to be invalid, fraudulent or forged, or any dispute between or among the
Borrower and any beneficiary of any Letter of Credit or any other party to which such Letter of
Credit may be transferred or any claims whatsoever of the Borrower against any beneficiary of such
Letter of Credit or any such transferee. The L/C Lender shall not be liable for any error,
omission, interruption or delay in transmission, dispatch or delivery of any message or advice,
however transmitted, in connection with any Letter of Credit, except for errors or omissions found
by a final and nonappealable decision of a court of competent jurisdiction to have resulted from
the gross negligence or willful misconduct of the Issuing Lender or any Related Person. The
Borrower agrees that any action taken or by the L/C Lender or the Issuing Lender under or in
connection with any Letter of Credit or the related drafts or documents, if done in the absence of
gross negligence or willful misconduct and in accordance with the standards of care specified in
the Uniform Commercial Code of the State of New York, shall be binding on the Borrower and shall
not result in any liability of the L/C Lender or the Issuing Lender to the Borrower. The Issuing
Lender shall not have any liability to the Borrower, the Administrative Agent, or the Lenders in
respect of any Letters of Credit issued by it or any Letters of Credit requested to be issued by
it, nor shall the Issuing Lender owe any duty to any Person, or be deemed to have agreed, to issue
any Letters of Credit (it being understood that the Issuing Lender shall issue Letters of Credit if
at all, pursuant to separate contractual arrangements with and solely for the benefit of, the L/C
Lender and any duties, obligations or liabilities of the Issuing Lender shall be only those set
forth in such separate contractual arrangements).

          3.13. Letter of Credit Payments. If any draft shall be presented for payment under
any Letter of Credit, the L/C Lender shall promptly notify the Borrower of the date and amount
thereof. The responsibility of the L/C Lender to the Borrower in connection with any draft
presented for payment under any Letter of Credit shall, in addition to any payment obligation
expressly provided for in such Letter of Credit, be limited to causing the Issuing Lender to
determine that the documents (including each draft) delivered under such Letter of Credit in
connection with such presentment are substantially in conformity with such Letter of Credit.

          3.14. Applications. To the extent that any provision of any Application related to
any Letter of Credit is inconsistent with the provisions of this Section 3, the provisions of this
Section 3 shall apply.

          3.15.
Increase in Term Commitments. (a) With the consent of the Administrative
Agent, the Borrower from time to time may, by written notice to the Administrative Agent, request
Incremental Term Commitments in an amount not to exceed the Incremental Term Amount from Lenders or
other Persons approved by the Administrative Agent willing to provide such Incremental Term

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Commitments. No Agent or Lender shall be obligated to deliver or fund any Incremental Term
Commitment except as expressly agreed to in writing by any such Person in an Incremental Term
Assumption Agreement. The notice shall set forth (i) the amount of the Incremental Term
Commitments being requested (which shall be in minimum increments of $1,000,000 and a minimum
amount of $5,000,000 or equal to the remaining Incremental Term Amount), (ii) the date on which
such Incremental Term Commitments are requested to become effective and (iii) that such Incremental
Term Commitments will provide for an additional funding of Term Loans on such date on the terms and
conditions set forth herein applicable to the Term Loans.

               (b) Concurrently with such request, the Borrower shall deliver to the Administrative Agent an
Incremental Term Assumption Agreement executed and delivered by the Loan Parties and proposed
Incremental Term Lenders and such other documentation relating thereto as the Administrative Agent
may reasonably request. The Administrative Agent shall promptly notify each Lender as to the
effectiveness of each Incremental Term Assumption Agreement. Upon the effectiveness of any
Incremental Term Assumption Agreement, this Agreement shall be amended to the extent necessary in
the judgment of the Administrative Agent to reflect the existence and terms of the Incremental Term
Commitments thereunder. Such amendment shall become effective when executed and delivered by the
Administrative Agent with the Borrower’s consent (not to be unreasonably withheld) and need not be
executed, delivered or consented to by any other Agent or Lender. Upon the funding of Term Loans
under an Incremental Term Commitment, such Loans shall constitute Term Loans for all purposes under
this Agreement and the other Loan Documents.

               (c) No Incremental Term Assumption Agreement shall become effective unless (i) the
Administrative Agent has approved such Incremental Term Assumption Agreement, (ii) the
Administrative Agent has received a certificate executed by a Responsible Officer of the Borrowers
to the effect that (A) the conditions set forth in Sections 6.2(a) and 6.2(b) are satisfied on the
date of the Incremental Term Assumption Agreement and the proposed effective date and (B) Holdings
would have been in compliance with Sections 8.1(a) and 8.1(b) as of the last day of the most recent
fiscal quarter of Holdings for which financial statements have then been delivered, after giving
effect on a pro forma basis to the Incremental Term Commitments provided by such Incremental Term
Assumption Agreement and the funding of all loans committed thereunder and application of the
proceeds thereof, all as if funded and applied on the first day of the 12-month period then ended,
and (iii) the Administrative Agent has received such amendments to the Security Documents,
additional Security Documents, legal opinions, board resolutions, certificates and documentation as
required by such Incremental Term Assumption Agreement or reasonably requested by the
Administrative Agent.

               (d) The Administrative Agent may reset Interest Periods for outstanding Eurodollar Tranches
and take other such action as it may deem appropriate to cause all additional Term Loans funded
under Incremental Term Commitments to be included, when funded, on a pro rata basis in each
outstanding Borrowing of Term Loans, and the Borrower agrees that Section 4.11 shall apply to any
conversion of Eurodollar Loans to Base Rate Loans or other reset of Interest Periods required by
the Administrative Agent to effect the foregoing.

               (e) If, taking into consideration all upfront fees and other compensation paid or payable by
the Borrower or its Affiliates to any Incremental Term Lender to obtain its Incremental Term
Commitment, the effective yield of any Incremental Term Loans, based on an assumed four-year
average life to maturity (the “Incremental Term Loan Yield”), is more than 0.25% per
annum greater than the yield of the other Term Loans then outstanding, determined solely on the
basis of the interest rates applicable thereto under this Agreement (the “Outstanding Term Loan
Yield”), then on the date of funding of such Incremental Term Loans the Borrower shall pay to
the Administrative Agent, for account

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of each Term Lender holding Term Loans then outstanding, a
fee in an amount sufficient to cause the Outstanding Term Loan Yield, when increased by the amount
of such fee, to be 0.25% per annum less than the Incremental Term Loan Yield.

SECTION 4. GENERAL PROVISIONS APPLICABLE

TO LOANS AND LETTERS OF CREDIT

          4.1. Optional Prepayments. The Borrower may at any time and from time to time prepay
the Loans, in whole or in part, without premium or penalty, upon irrevocable notice delivered to
the Administrative Agent no later than 1:00 p.m., New York City time, three Business Days prior
thereto in the case of Eurodollar Loans and no later than 1:00 p.m., New York City time, one
Business Day prior thereto in the case of Base Rate Loans, which notice shall specify the date and
amount of prepayment and whether the prepayment is of Eurodollar Loans or Base Rate Loans;
provided, that if a Eurodollar Loan is prepaid on any day other than the last day of the Interest
Period applicable thereto, the Borrower shall also pay any amounts owing pursuant to Section 4.11.
Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender
thereof. If any such notice is given, the amount specified in such notice shall be due and payable
on the date specified therein (provided, that a notice of prepayment of all outstanding
Loans may state that such notice is conditioned upon the effectiveness of other credit facilities
or other financing, in which case such notice may be revoked by the Borrower (by notice to the
Administrative Agent on or prior to the specified date) if such condition is not satisfied),
together with (except in the case of Revolving Loans that are Base Rate Loans and Swingline Loans)
accrued interest to such date on the amount prepaid. Partial prepayments of Term Loans and
Revolving Loans shall be in an aggregate principal amount of $500,000 or a whole multiple thereof.
Partial prepayments of Swingline Loans shall be in an aggregate principal amount of $100,000 or a
whole multiple thereof.

          4.2. Mandatory Prepayments and Commitment Reductions. (a) If at any time after
the Original Closing Date any Group Member other than Holdings receives any Net Cash Proceeds from
the incurrence of any Indebtedness other than Excluded Indebtedness, the Borrower shall prepay the
Term Loans on the date of such receipt in an amount equal to the lesser of 100% of such Net Cash
Proceeds (excluding Net Cash Proceeds received from the incurrence of any such Indebtedness to the
extent used within 90 days thereafter to finance a Permitted Acquisition or to acquire or repair
fixed or capital assets useful in its business) and the amount of the outstanding Term Loans.

               (b) If at any time after the Original Closing Date Holdings or any Parent receives any Net
Cash Proceeds from the issuance and sale of any Capital Stock or any equity contribution (excluding
(i) proceeds from Capital Stock of Holdings or any Parent issued to employees or directors of any
Parent, Holdings, the Borrower or any of the Borrower’s Subsidiaries pursuant to employee benefit
plans, employment arrangements or director arrangements, (ii) any capital contribution to the
extent made by Holdings or another Subsidiary of Holdings (it being understood and agreed that in
no event shall this clause (ii) exclude any proceeds received by Holdings from any capital
contribution to it or any issuance of its equity), (iii) proceeds received from the equity
financing referred to in paragraph 5 of the Closing Certificate of the Borrower, (iv) proceeds
received by Holdings or any Parent after the Original Closing Date from issuances of its equity to,
or contributions received from, any Parent or any
Permitted Investors or Permitted Transferees and (v) proceeds received by Holdings or any
Parent after the Original Closing Date from issuances of its equity or contributions to the extent
used within 90 days thereafter to finance a Permitted Acquisition), the Borrower shall prepay the
Term Loans within 90 days after the date of such receipt in an amount equal to the lesser of 50% of
such Net Cash Proceeds and the amount of the outstanding Term Loans.

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               (c) If at any time after the Original Closing Date any Group Member receives any Net Cash
Proceeds from any Asset Sale or Recovery Event in an amount exceeding $2,500,000 in any fiscal
year, then, unless a Reinvestment Notice shall be delivered in respect thereof, the Borrower shall
prepay the Term Loans on the third Business Day following the date of such receipt in an amount
equal to the lesser of 100% of such Net Cash Proceeds to the extent exceeding $2,500,000 in any
fiscal year and the amount of the outstanding Term Loans. If a Reinvestment Notice has been
delivered in respect of any Asset Sale or Recovery Event, then on each Reinvestment Prepayment Date
relating thereto, the Borrower shall prepay the Term Loans in an amount equal to the lesser of the
Reinvestment Prepayment Amount with respect to the relevant Reinvestment Event and the amount of
the outstanding Term Loans.

               (d) If, for any fiscal year of the Borrower commencing with the fiscal year ending on or about
December 31, 2007, there is any Excess Cash Flow, the Borrower shall prepay the Term Loans in an
amount equal to the lesser of the ECF Percentage of such Excess Cash Flow on or before the
105th day following the end of such fiscal year and the amount of the outstanding Term
Loans.

               (e) Mandatory prepayments of Term Loans shall be applied first to Base Rate Loans and then to
Eurodollar Loans and shall be accompanied by accrued interest to the date of such prepayment on the
amount prepaid. Each such prepayment shall be credited ratably to the remaining installments.

          4.3. Conversion and Continuation Options. (a) The Borrower may elect from time
to time to convert Eurodollar Loans to Base Rate Loans by giving the Administrative Agent prior
irrevocable notice of such election no later than 12:00 noon, New York City time, on the Business
Day preceding the proposed conversion date, provided, that any such conversion of Eurodollar Loans
may only be made on the last day of an Interest Period with respect thereto. The Borrower may
elect from time to time to convert Base Rate Loans to Eurodollar Loans by giving the Administrative
Agent prior irrevocable notice of such election no later than 1:00 p.m., New York City time, on the
second Business Day preceding the proposed conversion date (which notice shall specify the length
of the initial Interest Period therefore), provided that no Base Rate Loan under a
particular Facility may be converted into a Eurodollar Loan when any Event of Default has occurred
and is continuing and the Administrative Agent or the Majority Facility Lenders in respect of such
Facility have determined in its or their sole discretion not to permit such conversions. If the
Borrower requests a conversion to Eurodollar Loans in any such notice, but fails to specify an
Interest Period, it will be deemed to have specified an Interest Period of one month. Upon receipt
of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

               (b) Any Eurodollar Loan may be continued as such upon the expiration of the then current
Interest Period with respect thereto by the Borrower giving irrevocable notice to the
Administrative Agent, in accordance with the applicable provisions of the term “Interest Period”
set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans,
provided, that no Eurodollar Loan under a particular Facility may be continued as such when
any Event of Default has occurred and is continuing and the Administrative Agent has or the
Majority Facility Lenders in respect of such Facility have determined in its or their sole
discretion not to permit such continuations, and
provided, further, that if the Borrower shall fail to give any required notice
as described above in this paragraph or if such continuation is not permitted pursuant to the
preceding proviso such Loans shall be automatically converted to Base Rate Loans on the last day of
such then expiring Interest Period. So long as no Event of Default has occurred and is continuing,
if the Borrower requests a continuation of Eurodollar Loans in any such notice, but fails to
specify an Interest Period, it will be deemed to have

37

 

specified an Interest Period of one month.
Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender
thereof.

          4.4. Limitations on Eurodollar Tranches. Notwithstanding anything to the contrary in
this Agreement, all borrowings, conversions and continuations of Eurodollar Loans hereunder and all
selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such
elections so that, (a) after giving effect thereto, the aggregate principal amount of the
Eurodollar Loans comprising each Eurodollar Tranche shall be equal to $500,000 or a whole multiple
of $250,000 in excess thereof and (b) no more than ten Eurodollar Tranches shall be outstanding at
any one time.

          4.5. Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear
interest on the outstanding principal amount thereof for each day during each Interest Period with
respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the
Applicable Margin.

               (b) Each Base Rate Loan shall bear interest on the outstanding principal amount thereof at a
rate per annum equal to the Base Rate plus the Applicable Margin.

               (c) (i) If any portion of the principal of any Loan or Reimbursement Obligation is not paid
when due (whether at the stated maturity, by acceleration or otherwise), such portion of such
principal shall bear interest at a rate per annum equal to (x) in the case of the Loans, the rate
that would otherwise be applicable thereto pursuant to Section 4.5(a) or 4.5(b) plus 2% per
annum or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under
the Revolving Facility plus 2% per annum and (ii) if all or a portion of any interest
payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable
hereunder is not paid when due (whether at the stated maturity, by acceleration or otherwise), such
overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base
Rate Loans under the relevant Facility plus 2% per annum (or, in the case of any such other
amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans
under the Revolving Facility plus 2% per annum), in each case, with respect to both clause
(i) and clause (ii) above, from the date of such non-payment until such amount is paid in full (as
well after as before judgment).

               (d) Interest shall be payable in arrears on each Interest Payment Date, provided that
interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on
demand.

          4.6. Computation of Interest and Fees. (a) Interest and fees payable pursuant
hereto shall be calculated on the basis of a 360-day year for the actual days elapsed, except that,
with respect to Base Rate Loans the rate of interest on which is calculated on the basis of the
Prime Rate, the interest thereon shall be calculated on the basis of a 365- (or 366-, as the case
may be) day year for the actual days elapsed. The Administrative Agent shall as soon as
practicable notify the Borrower and the relevant Lenders of each determination of
a Eurodollar Rate. Any change in the interest rate on a Loan resulting from a change in the
Base Rate or the Eurocurrency Reserve Requirements shall become effective as of the opening of
business on the day on which such change becomes effective. The Administrative Agent shall as soon
as practicable notify the Borrower and the relevant Lenders of the effective date and the amount of
each such change in interest rate. Interest shall accrue on each Loan for each day on which it is
made or outstanding, except the day on which it is repaid unless it is repaid on the same day that
it was made.

               (b) Each determination of an interest rate by the Administrative Agent pursuant to any
provision of this Agreement shall be conclusive and binding on the Borrower and the

38

 

Lenders in the absence of manifest error. The Administrative Agent shall, at the request of the Borrower, deliver
to the Borrower a statement showing the quotations used by the Administrative Agent in determining
any interest rate pursuant to Section 4.5(a).

          4.7. Inability to Determine Interest Rate. If prior to the first day of any Interest
Period:

          (a) the Administrative Agent shall have determined (which determination shall be
conclusive and binding upon the Borrower absent manifest error) that, by reason of
circumstances affecting the relevant market, adequate and reasonable means do not exist for
ascertaining the Eurodollar Rate for such Interest Period, or

          (b) the Administrative Agent shall have received notice from the Majority Facility
Lenders in respect of the relevant Facility that the Eurodollar Rate determined or to be
determined for such Interest Period will not adequately and fairly reflect the cost to such
Lenders (as conclusively certified by such Lenders) of making or maintaining their affected
Loans during such Interest Period,

the Administrative Agent shall give telecopy or telephonic notice thereof to the Borrower and the
relevant Lenders as soon as practicable thereafter. If such notice is given (x) any Eurodollar
Loans under the relevant Facility requested to be made on the first day of such Interest Period
shall be made as Base Rate Loans (provided, that the Borrower may rescind such request promptly
after receipt of such notice), (y) any Loans under the relevant Facility that were to have been
converted on the first day of such Interest Period to Eurodollar Loans shall be continued as Base
Rate Loans and (z) any outstanding Eurodollar Loans under the relevant Facility shall be converted,
on the last day of the then-current Interest Period, to Base Rate Loans. Until such notice has
been withdrawn by the Administrative Agent, no further Eurodollar Loans under the relevant Facility
shall be made or continued as such, nor shall the Borrower have the right to convert Loans under
the relevant Facility to Eurodollar Loans.

          4.8. Pro Rata Treatment and Payments. (a) Each borrowing by the Borrower from
the Lenders hereunder, each payment by the Borrower on account of any commitment fee and any
reduction of the Commitments of the Lenders shall be made pro rata according to the respective Term
Percentages or Revolving Percentages, as the case may be of the relevant Lenders..

               (b) Each payment (including each prepayment) by the Borrower on account of principal of and
interest on the Term Loans shall be made pro rata according to the respective
outstanding principal amounts of the Term Loans then held by the Term Lenders. The amount of each
principal prepayment of the Term Loans shall be applied to reduce the then remaining installments
of Term Loans, pro rata based upon the then remaining principal amount thereof.
Amounts prepaid on account of the Term Loans may not be reborrowed.

               (c) Each payment (including each prepayment) by the Borrower on account of principal of and
interest on the Revolving Loans shall be made pro rata according to the respective
outstanding principal amounts of the Revolving Loans then held by the Revolving Lenders.

               (d) All payments (including prepayments) to be made by the Borrower hereunder, whether on
account of principal, interest, fees or otherwise, shall be made without setoff or counterclaim and
shall be made prior to 1:00 p.m., New York City time, on the due date thereof to the Administrative
Agent, for the account of the Lenders, at the Funding Office, in Dollars and in immediately
available funds. The Administrative Agent shall distribute such payments to the Lenders

39

 

promptly
upon receipt in like funds as received. If any payment hereunder (other than payments on the
Eurodollar Loans) becomes due and payable on a day other than a Business Day, such payment shall be
extended to the next succeeding Business Day. If any payment on a Eurodollar Loan becomes due and
payable on a day other than a Business Day, the maturity thereof shall be extended to the next
succeeding Business Day unless the result of such extension would be to extend such payment into
another calendar month, in which event such payment shall be made on the immediately preceding
Business Day. In the case of any extension of any payment of principal pursuant to the preceding
two sentences, interest thereon shall be payable at the then applicable rate during such extension.

               (e) Unless the Administrative Agent shall have been notified in writing by any Lender prior to
a borrowing that such Lender will not make the amount that would constitute its share of such
borrowing available to the Administrative Agent, the Administrative Agent may assume that such
Lender is making such amount available to the Administrative Agent, and the Administrative Agent
may, in reliance upon such assumption, make available to the Borrower a corresponding amount. If
such amount is not made available to the Administrative Agent by the required time on the Borrowing
Date therefor, such Lender shall pay to the Administrative Agent, on demand, such amount with
interest thereon at a rate equal to the greater of (i) the Federal Funds Effective Rate and (ii) a
rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation for the period until such Lender makes such amount immediately available to the
Administrative Agent. A certificate of the Administrative Agent submitted to any Lender with
respect to any amounts owing under this paragraph shall be conclusive in the absence of manifest
error. If such Lender’s share of such borrowing is not made available to the Administrative Agent
by such Lender within three Business Days of such Borrowing Date, the Administrative Agent shall
also be entitled to recover such amount with interest thereon at the rate per annum applicable to
Base Rate Loans under the relevant Facility, on demand, from the Borrower.

               (f) Unless the Administrative Agent shall have been notified in writing by the Borrower prior
to the date of any payment due to be made by the Borrower hereunder that the Borrower will not make
such payment to the Administrative Agent, the Administrative Agent may assume that the Borrower is
making such payment, and the Administrative Agent may, but shall not be required to, in reliance
upon such assumption, make available to the Lenders their respective pro rata
shares of a corresponding amount. If such payment is not made to the Administrative Agent by the
Borrower within three Business Days after such due date, the Administrative Agent shall be entitled
to recover, on demand, from each Lender to which any amount which was made available pursuant to
the preceding sentence, such amount with interest thereon at the rate per annum equal to the daily
average Federal Funds Effective Rate. Nothing herein shall be deemed to limit the rights of the
Administrative Agent or any Lender against the Borrower.

          4.9. Requirements of Law. (a) If the adoption of or any change in any
Requirement of Law or in the interpretation or application thereof, or compliance by any Lender
with any request or directive whether or not having the force of law from any central bank or other
Governmental Authority made subsequent to the date such Lender becomes a party hereto:

     (i) shall subject any Lender to any tax of any kind whatsoever with respect to this
Agreement, any Letter of Credit, any Application or any Eurodollar Loan made by it, or
change the basis of taxation of payments to such Lender in respect thereof (except for (A)
changes in the rate of net income taxes, capital taxes, branch taxes, franchise taxes
(imposed in lieu of income taxes) and net worth taxes (imposed in lieu of income taxes) and
(B) Non-Excluded Taxes, provided that this provision shall not affect any obligation of the
Borrower under Section 4.10);

40

 

     (ii) shall impose, modify or hold applicable any reserve, special deposit, compulsory
loan or similar requirement against assets held by, deposits or other liabilities in or for
the account of, advances, loans or other extensions of credit by, or any other acquisition
of funds by, any office of such Lender that is not otherwise included in the determination
of the Eurodollar Rate hereunder; or

     (iii) shall impose on such Lender any other condition;

and the result of any of the foregoing is to increase the cost to such Lender, by an amount
that such Lender reasonably deems to be material, of making, converting into, continuing or
maintaining Eurodollar Loans or issuing or participating in Letters of Credit, or to reduce
any amount receivable hereunder in respect thereof, then, in any such case, the Borrower shall
promptly pay such Lender, upon its written demand (accompanied by a certificate of the type
described in clause (c) below), any additional amounts necessary to compensate such Lender for
such increased cost or reduced amount receivable. If any Lender becomes entitled to claim any
additional amounts pursuant to this paragraph, it shall promptly notify the Borrower (with a
copy to the Administrative Agent) of the event by reason of which it has become so entitled.

               (b) If any Lender shall have reasonably determined that the adoption of or any change in any
Requirement of Law regarding capital adequacy or in the interpretation or application thereof or
compliance by such Lender or any corporation controlling such Lender with any request or directive
regarding capital adequacy whether or not having the force of law from any Governmental Authority
made subsequent to the date such Lender becomes a party hereto shall have the effect of reducing
the rate of return on such Lender’s or such corporation’s capital as a consequence of its
obligations hereunder or under or in respect of any Letter of Credit to a level below that which
such Lender or such corporation could have achieved but for such adoption, change or compliance
(taking into consideration such Lender’s or such corporation’s policies with respect to capital
adequacy and such Lender’s desired return on capital) by an amount reasonably deemed by such Lender
to be material, then from time to time, after submission by such Lender to the Borrower (with a
copy to the Administrative Agent) of a written request (accompanied by a certificate of the type
described in clause (c) below) therefor, the Borrower shall pay to such Lender such additional
amount or amounts as will compensate such Lender or such corporation for such reduction.

               (c) A certificate as to any additional amounts payable pursuant to this Section 4.9 submitted
by any Lender to the Borrower (with a copy to the Administrative Agent) shall be conclusive in the
absence of manifest error. Notwithstanding anything to the contrary in this Section 4.9, the
Borrower shall not be required to compensate a Lender pursuant to this Section 4.9 for any amounts
incurred more than six months prior to the date that such Lender notifies the Borrower of such
Lender’s intention to claim compensation therefor; provided that, if the circumstances
giving rise to such claim
have a retroactive effect, then such six-month period shall be extended to include the period
of such retroactive effect. The obligations of the Borrower pursuant to this Section 4.9 shall
survive the termination of this Agreement and the payment of the Loans and all other amounts
payable hereunder.

          4.10. Taxes. (a) Except to the extent required under applicable law, all
payments made under this Agreement shall be made free and clear of, and without deduction or
withholding for or on account of, any present 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 net income taxes, capital
taxes, branch taxes, franchise taxes (imposed in lieu of net income taxes) and net worth taxes
(imposed in lieu of net income taxes) imposed on any Agent or any Lender or its applicable lending
office or any branch, as a result of a present or

41

 

former connection between such 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 such Agent or such Lender having executed, delivered or performed its obligations or received
a payment under, or enforced, this Agreement or any other Loan Document). If any such non-excluded
taxes, levies, imposts, duties, charges, fees, deductions or withholdings (“Non-Excluded
Taxes”) or Other Taxes are required to be withheld from any amounts payable to any Agent or any
Lender hereunder (or are required to be withheld or paid by such Agent or Lender) subject to
Subsection 4.10(i), the amounts so payable to such Agent or such Lender shall be increased to the
extent necessary to yield to such Agent or such Lender (after payment of all Non-Excluded Taxes and
Other 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 or Agent with respect to any
Non-Excluded Taxes (i) that are attributable to such Lender’s or Agent’s failure to comply with the
requirements of paragraph (d) or (e) of this Section 4.10 or (ii) that are United States
withholding taxes imposed on amounts payable to such Lender or Agent at the time such Lender or
Agent becomes a party to this Agreement, except to the extent that such Lender’s or Agent’s
assignor (if any) was entitled, at the time of assignment to receive additional amounts from the
Borrower with respect to the Non-Excluded Taxes pursuant to this paragraph (a).

               (b) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority
in accordance with applicable law.

               (c) Whenever any Non-Excluded Taxes or Other 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 the relevant Agent or Lender, as the case may be, a certified copy of an original
official receipt received by the Borrower showing payment thereof. If the Borrower fails to pay
any Non-Excluded Taxes or Other Taxes when due to the appropriate taxing authority or fails to
remit to the Administrative Agent the required receipts or other required documentary evidence, the
Borrower shall indemnify the Agents and the Lenders for any incremental taxes, interest or
penalties that may become payable by any Agent or any Lender as a result of any such failure.

               (d) Each Lender or Agent (or Transferee) that is not a “United States person” as defined in
Section 7701(a)(30) of the Code (a “Non-U.S. Lender”) shall deliver to the Borrower and the
Administrative Agent (or, in the case of a Participant, to the Lender from which the related
participation shall have been purchased) two copies of either U.S. Internal Revenue Service Form
W-8IMY and/or Form W-8BEN (claiming benefits of an applicable tax treaty) or Form W-8ECI, as
applicable (or successor form) or, in the case of a 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”, a statement substantially in the form of Exhibit G and a Form W-8BEN, or any
subsequent versions thereof or successors thereto, properly completed and duly executed by such
Non-U.S. Lender claiming complete exemption from, or a reduced rate of, U.S. federal withholding
tax on all payments by the Borrower under this Agreement and the other Loan Documents. Such forms
shall be delivered by each Non-U.S. Lender on or before the date it becomes a party to this
Agreement (or, in the case of any Participant, on or before the date such Participant purchases the
related participation). In addition, each Non-U.S. Lender shall deliver such forms promptly upon
the obsolescence or invalidity of any form previously delivered by such Non-U.S. Lender. Each
Non-U.S. Lender shall promptly notify the Borrower at any time it determines that it is no longer
in a position to provide any previously delivered certificate to the Borrower (or any other form of
certification adopted by the U.S. taxing authorities for such purpose). Notwithstanding any other
provision of this paragraph, a Non-U.S. Lender shall not be required to deliver any form pursuant
to this paragraph that such Non-U.S. Lender is not legally able to

42

 

deliver. Each Lender or Agent
that is not a Non-U.S. Lender shall furnish an accurate and complete U.S. Internal Revenue Service
Form W-9 (or successor form) establishing that such Lender or Agent is not subject to U.S. backup
withholding, and to the extent it may lawfully do so at such times, provide a new Form W-9 (or
successor form) upon the expiration or obsolescence of any previously delivered form.

               (e) A Lender or Agent that is entitled to an exemption from or reduction of non-U.S.
withholding tax under the law of the jurisdiction in which the Borrower is located, or any treaty
to which such jurisdiction is a party, with respect to payments under this Agreement shall deliver
to the Borrower (with a copy to the Administrative Agent), at the time or times prescribed by
applicable law and as reasonably requested in writing by the Borrower, such properly completed and
executed documentation prescribed by applicable law as will permit such payments to be made without
withholding or at a reduced rate, to the extent that such Lender or Agent is legally entitled to
complete, execute and deliver such documentation and in such Lender’s or Agent’s reasonable
judgment such completion, execution or submission would not materially prejudice the legal position
of such Lender.

               (f) If any Lender or Agent determines, in its reasonable discretion, that it has received a
refund of any Non-Excluded Taxes or Other Taxes as to which it has been indemnified by the Borrower
or with respect to which the Borrower has paid additional amounts pursuant to this Section 4.10, it
shall promptly pay over such refund to the Borrower (but only to the extent of indemnity payments
made, or additional amounts paid, by the Borrower under this Section 4.10 with respect to the
Non-Excluded Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of
such Agent or such Lender and without interest (other than any interest paid by the relevant
Governmental Authority with respect to such refund); provided, that the Borrower, upon the
request of such Agent or such Lender, agrees to repay the amount paid over to the Borrower (plus
any penalties, interest or other charges imposed by the relevant Governmental Authority) to such
Agent or such Lender in the event such Agent or such Lender is required to repay such refund to
such Governmental Authority. This paragraph shall not be construed to require any Agent or any
Lender to make available its tax returns (or any other information relating to its taxes which it
deems confidential) to the Borrower or any other Person.

               (g) The agreements in this Section 4.10 shall survive the termination of this Agreement and
the payment of the Loans and all other amounts payable hereunder.

               (h) [Reserved].

               (i) If a Lender or Agent changes its applicable lending office or assigns its rights or sells
participations therein and the effect of the change, assignment or participation, as of the date of
the change, would be to cause the Borrower to become obligated to pay any additional amount under
Section 4.9(a)(i) or 4.10, the Borrower shall not be obligated to pay such additional amount in
excess of amounts the Borrower was obligated to pay prior to such change, assignment or
participation.

          4.11. Indemnity. The Borrower agrees to indemnify each Lender, upon its written
request (which request shall set forth in reasonable detail the basis for requesting such
compensation and the calculation of the amount of such compensation), for all losses, expenses and
liabilities (including any loss, expense or liability incurred by reason of the liquidation or
reemployment of deposits or other funds required by such Lender to fund its Eurodollar Loans but
excluding loss of anticipated profits) that such Lender may sustain or incur as a consequence of
(a) default by the Borrower in making a borrowing of, conversion into or continuation of Eurodollar
Loans after the Borrower has given a notice requesting the same in accordance with the provisions
of this Agreement, (b) default by the Borrower in making any prepayment of or conversion from
Eurodollar Loans after the Borrower has given a notice thereof in accordance with the provisions of
this Agreement or (c) the making of a prepayment of Eurodollar
Loans

43

 

on a day that is not the last
day of an Interest Period with respect thereto. Such indemnification may include an amount equal
to the excess, if any, of (i) the amount of interest that would have accrued on the amount so
prepaid, or not so borrowed, converted or continued, for the period from the date of such
prepayment or of such failure to borrow, convert or continue to the last day of such Interest
Period (or, in the case of a failure to borrow, convert or continue, the Interest Period that would
have commenced on the date of such failure) in each case at the applicable rate of interest for
such Loans provided for herein (excluding, however, the Applicable Margin included therein, if any)
over (ii) the amount of interest (as reasonably determined by such Lender) that would have accrued
to such Lender on such amount by placing such amount on deposit for a comparable period with
leading banks in the interbank eurodollar market. A certificate as to any amounts payable pursuant
to this Section 4.11 submitted to the Borrower by any Lender shall be conclusive in the absence of
manifest error. This covenant shall survive the termination of this Agreement and the payment of
the Loans and all other amounts payable hereunder.

          4.12. Change of Lending Office. Each Lender agrees that, upon the occurrence of any
event giving rise to the operation of Section 4.9, 4.10(a) or 4.15 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 or Letters of
Credit affected by such event with the object of avoiding the consequences of such event; provided,
that such designation is made on terms that, in the sole judgment of such Lender, cause such Lender
and its lending office(s) to suffer no economic, legal or regulatory disadvantage, and provided,
further, that nothing in this Section shall affect or postpone any of the obligations of the
Borrower or the rights of any Lender pursuant to Section 4.9, 4.10(a) or 4.15.

          4.13. Replacement of Lenders. The Borrower may replace, with a replacement financial
lender reasonably satisfactory to the Administrative Agent, any Lender that (a) requests payment of
any amounts payable under Section 4.9, 4.10(a) or 4.15, (b) defaults in its obligation to make
Loans hereunder, or (c) declines to deliver any required consent to a waiver or modification of any
provision of the Loan Documents that has been consented by the Borrower, Administrative Agent,
Required Lenders and, if otherwise required, Majority Facility Lenders, but only if (i) such
replacement does not conflict with any Requirement of Law, (ii) no Event of Default has occurred
and is continuing at the time of such replacement, (iii) prior to any such replacement, such Lender
has taken no action under Section 4.12 so as to eliminate the demand or condition giving rise to
the Borrower’s replacement right, (iv) the replacement lender purchases, at par, all Loans and
other amounts owing to the replaced Lender on or prior to the date of replacement and assumes all
obligations of the replaced Lender under the Loan Documents in accordance with Section 11.6 (except
that the Borrower shall pay the registration and processing fee referred to therein), (v) the
Borrower compensates the replaced Lender under Section 4.11 if any Eurodollar Loan outstanding to
the replaced Lender is purchased other than on the last day of the Interest Period relating
thereto and (vi) the Borrower shall pay the replaced Lender all amounts payable under Section 4.9
or 4.10(a). Notwithstanding the foregoing, all rights and claims of the Borrower, Administrative
Agent and Lenders against any replaced Lender that has defaulted in its obligation to make Loans
hereunder shall be in all respects reserved and unaffected by the replacement of such Lender.

          4.14. Evidence of Debt. (a) Each Lender shall maintain in accordance with its
usual practice an account or accounts evidencing Indebtedness of the Borrower to such Lender
resulting from each Loan of such Lender from time to time, including the amounts of principal and
interest payable and paid to such Lender from time to time under this Agreement.

               (b) The Administrative Agent, on behalf of the Borrower, shall maintain the Register pursuant
to Section 11.6(b), and a subaccount therein for each Lender, in which shall be recorded (i) the
amount of each Loan made hereunder and any Note evidencing such Loan, the Type of such Loan

44

 

and each 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 hereunder and (iii) both the
amount of any sum received by the Administrative Agent hereunder from the Borrower and each
Lender’s share thereof.

               (c) The entries made in the Register and the accounts of each Lender maintained pursuant to
Section 4.14(a) 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, but the
failure of any Lender or the Administrative Agent to maintain the Register or any such account, 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.

               (d) The Borrower agrees that, upon the request to the Administrative Agent by any Lender, the
Borrower will execute and deliver to such Lender a promissory note of the Borrower evidencing any
Term Loans, Revolving Credit Loans or Swingline Loans, as the case may be, of such Lender,
substantially in the forms of Exhibit H-1, H-2 or H-3, respectively, with appropriate insertions as
to date and principal amount.

          4.15. Illegality. Notwithstanding any other provision herein, if the adoption of or
any change in any Requirement of Law or in the interpretation or application thereof shall make it
unlawful for any Lender to make or maintain Eurodollar Loans as contemplated by this Agreement, (a)
the commitment of such Lender hereunder to make Eurodollar Loans, continue Eurodollar Loans as such
and convert Base Rate Loans to Eurodollar Loans shall forthwith be canceled and (b) such Lender’s
Loans then outstanding as Eurodollar Loans, if any, shall be converted automatically to Base Rate
Loans on the respective last days of the then current Interest Periods with respect to such Loans
or within such earlier period as required by law. If any such conversion of a Eurodollar Loan
occurs on a day which is not the last day of the then current Interest Period with respect thereto,
the Borrower shall pay to such Lender such amounts, if any, as may be required pursuant to Section
4.11.

SECTION 5. REPRESENTATIONS AND WARRANTIES

          To induce the Agents and the Lenders to enter into this Agreement and to make the Loans and
issue or participate in the Letters of Credit, Holdings and the Borrower hereby jointly and
severally represent and warrant to each Agent and each Lender that, unless otherwise specified, on and
as of the First Amendment Effective Date and on and as of each date as required by Section 6.2(b):

          5.1. Financial Condition. (a) The unaudited pro forma consolidated balance sheet
of the Borrower and its consolidated Subsidiaries as at on or about December 31, 2004 (including
the notes thereto) (the “Original Closing Date Pro Forma Balance Sheet”), copies of which
have heretofore been furnished to each Lender party hereto as of the Original Closing Date, has
been prepared giving effect (as if such events had occurred on such date) to (i) the consummation
of the Acquisition, (ii) the Loans to be made and the Senior Unsecured Notes to be issued on or
before the Original Closing Date and the use of proceeds thereof and (iii) the payment of fees and
expenses in connection with the foregoing. The unaudited pro forma consolidated balance sheet of
Holdings and its consolidated subsidiaries as at December 31, 2005 (including the notes thereto)
(the “First Amendment Effective Date Pro Forma Balance Sheet”), copies of which have been
have heretofore been furnished to each Lender, has been prepared giving effect (as if such events
had occurred on such date) to (i) the consummation of the Ohio Acquisition, (ii) the Loans to be
made on the First Amendment Effective Date and (iii) the payment of fees and expenses in connection
with the foregoing. The Original Closing Date Pro Forma Balance Sheet and the First Amendment
Effective Date Pro Forma Balance Sheet have each been prepared based on the best information
available to the Borrower as of the date of delivery thereof, and presents fairly in all

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material respects on a pro forma basis the estimated financial position of the Borrower and its consolidated
Subsidiaries as at on or about December 31, 2004 and December 31, 2005, respectively, assuming that
the events specified in the preceding sentence had actually occurred at such date (except in each
case for the effects of fair value adjustments to the acquired tangible and intangible assets and
liabilities required by purchase accounting principles).

               (b) The audited consolidated balance sheets of the Borrower and its Subsidiaries as at on or
about December 31, 2005, on or about December 31, 2004 and on or about December 31, 2003 and the
related consolidated statements of income and of cash flows for the fiscal years ended on such
dates, reported on by and accompanied by an unqualified report from KPMG LLC, present fairly in all
material respects the consolidated financial condition of the Borrower and its Subsidiaries as at
such dates and their consolidated results of operations and consolidated cash flows for the fiscal
years then ended. All such financial statements, including the related schedules and notes (if
any) thereto, have been prepared in accordance with GAAP applied consistently throughout the
periods involved (except as approved by the aforementioned firm of accountants and disclosed
therein). As of the First Amendment Effective Date, no Group Member has any material Guarantee
Obligations, contingent liabilities or any long-term leases or unusual forward or long-term
commitments, including any interest rate or foreign currency swap or exchange transaction or other
obligation in respect of derivatives, that are not reflected in the most recent financial
statements referred to in this paragraph other than as contemplated by the Loan Documents and
Related Agreements. During the period from on or about December 31, 2004 to and including the
Original Closing Date there was no Disposition by the Borrower or any of its then existing
Subsidiaries of any material part of its business or property other than the Acquisition.

          5.2. No Change. Since the date of the audited consolidated balance sheets of the
Borrower and its Subsidiaries as at on or about December 31, 2004, there has been no development or
event that has had or would reasonably be expected to have a Material Adverse Effect.

          5.3. Corporate Existence; Compliance with Law. Each Group Member (a) is duly organized, validly existing and in good standing under the
laws of the jurisdiction of its organization, (b) has the organizational power and authority, to
own and operate its property, to lease the property it operates as lessee and to conduct the
business in which it is currently engaged, (c) is duly qualified as a foreign corporation or other
organization and in good standing under the laws of each jurisdiction where its ownership, lease or
operation of property or the conduct of its business requires such qualification except to the
extent the failure to be so qualified would not, in the aggregate, reasonably be expected to have a
Material Adverse Effect and (d) is in compliance with all Requirements of Law and Organizational
Documents, except to the extent that the failure to comply therewith would not, in the aggregate,
reasonably be expected to have a Material Adverse Effect.

          5.4. Power; Authorization; Enforceable Obligations. Each Loan Party has the
organizational power and authority, and the legal right, to make, deliver and perform the Loan
Documents and the Related Agreements to which it is a party and, in the case of the Borrower, to
obtain extensions of credit under this Agreement. Each Loan Party has taken all necessary
organizational action to authorize the execution, delivery and performance of the Loan Documents
and Related Agreements to which it is a party and, in the case of the Borrower, to authorize the
extensions of credit under this Agreement. No consent or authorization of, filing with, notice to
or other act by or in respect of, any Governmental Authority or any other Person is required in
connection with the Acquisition, the extensions of credit hereunder or the execution, delivery,
performance, validity or enforceability of the Loan Documents or Related Agreements except (i)
consents, authorizations, filings and notices described in Schedule 5.4, which consents,
authorizations, filings and notices have been obtained or made and are in full force and

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effect except as specifically described in Schedule 5.4 and (ii) the filings referred to in Section 5.19.
Each Loan Document and Related Agreement has been duly executed and delivered on behalf of each
Loan Party party thereto. This Agreement constitutes, each other Loan Document upon execution will
constitute, and each Related Agreement constitutes, the legal, valid and binding obligation of each
Loan Party party thereto, enforceable against such Loan Party in accordance with its terms, except
as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium
or similar laws affecting the enforcement of creditors’ rights generally and by general equitable
principles (whether enforcement is sought by proceedings in equity or at law).

          5.5. No Legal Bar. The execution, delivery and performance of the Loan Documents and,
the issuance of Letters of Credit and the borrowings hereunder do not and will not violate in any
material respect any Requirement of Law, Organizational Documents or any material Contractual
Obligation of any Loan Party or result in or require the creation or imposition of any Lien on any
property or revenues of any Loan Party in any material respect pursuant to any Requirement of Law,
Organizational Documents or material Contractual Obligation (other than the Liens created by the
Security Documents). The execution, delivery and performance of the Related Agreements and the use
of the proceeds thereof do not and will not violate any Requirement of Law, Organizational
Documents or any Contractual Obligation of any Loan Party or result in or require the creation or
imposition of any Lien on any property or revenues of any Loan Party pursuant to any Requirement of
Law Organizational Documents or Contractual Obligation (other than the Liens created by the
Security Documents) except, as in each case, has not had and would not reasonably be expected to
have a Material Adverse Effect. No Group Member is subject to any Requirement of Law,
Organizational Documents or Contractual Obligation that has had or would reasonably be expected to
have a Material Adverse Effect.

          5.6. Litigation. No litigation, investigation or proceeding of or before any arbitrator or Governmental
Authority is pending or, to the knowledge of Holdings or the Borrower, threatened by or against any
Group Member or against any of their respective properties or revenues (a) with respect to any of
the Loan Documents or any of the transactions contemplated hereby or thereby, or (b) that would
reasonably be expected to have a Material Adverse Effect.

          5.7. No Default. No Group Member is in default under or with respect to any of its
Contractual Obligations in any respect that would reasonably be expected to have a Material Adverse
Effect. No Default or Event of Default has occurred and is continuing.

          5.8. Ownership of Property; Liens. Each Loan Party has good and indefeasible title to
the Mortgaged Properties, and to the knowledge of Holdings or the Borrower, has good and valid
title to, or a valid leasehold interest in, all its other material property and none of such
property is subject to any Lien except Permitted Liens.

          5.9. Intellectual Property. Except as set forth in Schedule 5.9, each Group Member
owns, or is licensed to use, all material Intellectual Property necessary for the conduct of its
business as currently conducted. Except as, in the aggregate, has not had and would not reasonably
be expected to have a Material Adverse Effect, (a) no material claim has been asserted and is
pending by any Person challenging or questioning the use of any Intellectual Property or the
validity or effectiveness of any Intellectual Property, nor does Holdings or the Borrower know of
any valid basis for any such claim and (b) the use of Intellectual Property by each Group Member
does not infringe on the rights of any Person in any material respect.

          5.10. Taxes. Each Group Member has filed or caused to be filed all Federal and state
income and other material tax returns that are required to be filed and has paid all material taxes
shown to

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be due and payable on said returns or on any assessments made against it or any of its
property and all other material taxes, fees or other charges imposed on it or any of its property
by any Governmental Authority (other than any the amount or validity of which are currently being
contested in good faith by appropriate proceedings (if any) and with respect to which reserves in
conformity with GAAP have been provided on the books of the relevant Group Member); no tax Lien has
been filed, and, to the knowledge of Holdings and the Borrower, no claim is being asserted, with
respect to any material tax, fee or other charge. No Group Member intends to treat the Loan, the
Acquisition, or any other transaction contemplated hereby as being as “reportable transaction”
(within the meaning of Treasury Regulation section 1.6011-4).

          5.11. Federal Regulations. No part of the proceeds of any Loans, and no other
extensions of credit hereunder, will be used for “buying” or “carrying” any “margin stock” within
the respective meanings of each of the quoted terms under Regulation U as now and from time to time
hereafter in effect or for any purpose that violates the provisions of the Regulations of the
Board. If requested by any Lender or the Administrative Agent, the Borrower will furnish to the
Administrative Agent and each Lender a statement to the foregoing effect in conformity with the
requirements of FR Form G-3 or FR Form U-1, as applicable, referred to in Regulation U.

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

          5.13. ERISA. Neither a Reportable Event nor an “accumulated funding deficiency” (within the meaning
of Section 412 of the Code or Section 302 of ERISA) has occurred during the five-year period prior
to the date on which this representation is made or deemed made with respect to any Plan for which any
Group Member or Commonly Controlled Entity has a material unpaid liability, and each Plan has complied in
all material respects with the applicable provisions of ERISA and the Code. No termination of a Single
Employer Plan has occurred, and no Lien in favor of the PBGC or a Plan has arisen, during such five-year period.
The present value of all accrued benefits under each Single Employer Plan (based on those assumptions used to fund
such Plans) did not, as of the last annual valuation date prior to the date on which this representation is made
or deemed made, exceed the value of the assets of such Plan allocable to such accrued benefits by a material amount.
No Group Member or Commonly Controlled Entity has had a complete or partial withdrawal from any Multiemployer Plan
that has resulted or would reasonably be expected to result in a material liability under ERISA, and no Group Member
or Commonly Controlled Entity would become subject to any material liability under ERISA if any Group Member or
Commonly Controlled Entity were to withdraw completely from all Multiemployer Plans as of the valuation date most
closely preceding the date on which this representation is made or deemed made. No such Multiemployer Plan is in
Reorganization or Insolvent. No Group Member has any liability with respect to any employee benefit plan that is not
subject to the laws of the United States or a political subdivision thereof that would reasonably be expected to result
in a Material Adverse Effect.

          5.14. Investment Company Act; Other Regulations. No Group Member is an “investment company”, or a company
“controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended.
No Loan Party is subject to regulation under any Requirement of Law or restriction under its Organizational
Documents (other than Regulation X of the

48

 

Board) that limits its ability to incur Indebtedness under this Agreement or the Senior
Unsecured Indenture.

          5.15. Subsidiaries. Except as disclosed to the Administrative Agent by the Borrower
in writing from time to time after the Original Closing Date, (a) Schedule 5.15 sets forth the name
and jurisdiction of organization of each Subsidiary and, as to each such Subsidiary, the percentage
of each class of Capital Stock owned by any Group Member and (b) there are no outstanding
subscriptions, options, warrants, calls, rights or other agreements or commitments (other than
stock options granted to employees, former employees or directors and directors’ qualifying shares)
of any nature relating to any Capital Stock of the Group Member other than Holdings, except as
created by the Loan Documents.

          5.16. Use of Proceeds. The proceeds of the Term Loans and any Revolving Loans funded
on the Original Closing Date were used to refinance existing Indebtedness of the Borrower and its
Subsidiaries, to finance a portion of the merger consideration for the Merger and pay related fees
and expenses. Letters of Credit and the proceeds of Revolving Loans made after the Original
Closing Date and Swingline Loans shall be used only for working capital, Permitted Acquisitions and
other general corporate purposes. The Borrower shall use the proceeds of any Additional Term Loans
solely for Permitted Acquisitions and the repayment of outstanding Revolving Loans or those
Existing Loans not subject to a Conversion Notice.

          5.17. Environmental Matters. Except as, in the aggregate, has not had and would not
reasonably be expected to have a Material Adverse Effect:

               (a) Except as listed on Schedule 5.17, the facilities and properties owned, leased or operated
by any Group Member (the “Properties”) do not contain any Materials of Environmental
Concern or contamination in amounts or concentrations or under circumstances that constitute or
constituted a violation of, or could give rise to liability under, any Environmental Law;

               (b) no Group Member has received or is aware of any notice of violation, alleged violation,
non-compliance, liability or potential liability regarding environmental matters or compliance with
Environmental Laws with regard to any of the Properties or any Group Member’s operation of any of
the Properties or the business operated by any Group Member (the “Business”), nor does
Holdings or the Borrower have knowledge or reason to believe that any such notice will be received
or is being threatened;

               (c) the Group Members (i) hold all Environmental Permits (each of which is in full force and
effect) required for the conduct of the business; and (ii) are, and within the period of all
applicable statutes of limitation have been, in compliance with all of their Environmental Permits;

               (d) the Group Members have complied with all current requirements of Environmental Law and, to
the knowledge of Holdings or the Borrower, compliance by each Group Member with all reasonably
likely future requirements arising from either (i) existing Environmental Laws or (ii) formally
proposed environmental regulations that have not yet been finally promulgated will be timely
attained and maintained, as applicable, without material expense;

               (e) Except as listed on Schedule 5.17, Materials of Environmental Concern have not been
transported or disposed of by or on behalf of any Group Member from the Properties in violation of,
or in a manner or to a location that would give rise to liability under, any Environmental Law, nor
during any Group Member’s ownership or operation of either the Properties or any formerly owned,
leased or operated facilities or properties (“Former Properties”) have any Materials of

49

 

Environmental Concern been generated, treated, stored or disposed of, released or threatened
to be released at, on or under any of the Properties or Former Properties or otherwise in
connection with the Business in violation of Environmental Law, or in a manner that could give rise
to liability under, any applicable Environmental Law;

               (f) no judicial proceeding or governmental or administrative action is pending or, to the
knowledge of Holdings and the Borrower, threatened, under any Environmental Law to which any Group
Member is or will be named as a party with respect to the Properties or the Business, nor are there
any consent decrees or other decrees, consent orders, administrative orders or other orders, or
other administrative or judicial requirements outstanding under any Environmental Law with respect
to the Properties or the Business; and

               (g) no Group Member has assumed any liability of any other Person under Environmental Laws.

          5.18. Accuracy of Information, etc. No statement or information contained in this
Agreement, any other Loan Document, the Confidential Information Memorandum or any other material
document, certificate or statement furnished by or on behalf of any Group Member to the
Administrative Agent or the Lenders, or any of them, for use in connection with the transactions
contemplated by this Agreement or the other Loan Documents, taken as a whole, contained as of the
date such statement, information, document or certificate was so furnished (or, in the case of the
Confidential Information Memorandum, as of the Original Closing Date), any untrue statement of a
material fact or omitted to state a material fact necessary to make the statements contained herein
or therein not materially misleading. The projections and pro forma financial information
contained in the materials referenced above are based upon good faith estimates and assumptions
believed by management of the Borrower to be reasonable at the time made, it being recognized by
the Lenders that such financial information as it relates to future events is not to be viewed as
fact and that actual results during the period or periods covered by such financial information may
differ from the projected results set forth therein by a material amount. As of the Original
Closing Date, to the best knowledge of the Borrower, the representations and warranties contained
in the Acquisition Documentation are true and correct in all material respects (except those
representations and warranties that refer solely to an earlier date, which representations and
warranties shall be true and correct as of such earlier date). There is no fact known to any Loan
Party that would reasonably be expected to have a Material Adverse Effect that has not been
expressly disclosed herein, in the other Loan Documents, in the Confidential Information Memorandum
or in any other documents, certificates and statements furnished to the Administrative Agent and
the Lenders for use in connection with the transactions contemplated hereby and by the other Loan
Documents, taken as a whole.

          5.19. Security Documents. (a) The Guarantee and Collateral Agreement is
effective to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a
legal, valid and enforceable security interest in the Collateral described therein and proceeds and
products thereof, except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights
generally. In the case of the Pledged Stock described in the Guarantee and Collateral Agreement,
when stock certificates representing such Pledged Stock are delivered to the Administrative Agent,
and in the case of the other Collateral described in the Guarantee and Collateral Agreement, to the
extent provided therein, when financing statements, other filings specified on Schedule 4 to the
Guarantee and Collateral Agreement in appropriate form are filed in the offices specified on
Schedule 4 to the Guarantee and Collateral Agreement and the other actions described in Section 4.3
of the Guarantee and Collateral Agreement are completed, the Guarantee and Collateral Agreement
shall be effective to create a perfected Lien on, and security interest in, all right, title and
interest of the Loan Parties in such Collateral and the proceeds thereof, as security for the

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Obligations (as defined in the Guarantee and Collateral Agreement), in each case (to the
extent provided therein) prior and superior in right to any other Person (except for Permitted
Liens);

               (b) Each of the Mortgages is effective to create in favor of the Administrative Agent, for the
benefit of the Secured Parties, a legal, valid and enforceable Lien on the Mortgaged Properties
described therein and proceeds and products thereof, and when the Mortgages are filed in the
offices specified therein, each such Mortgage shall constitute, except as enforceability may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
the enforcement of creditors’ rights generally, (to the extent provided therein) a perfected Lien
on, and security interest in, all right, title and interest of the Loan Parties in the Mortgaged
Properties and the proceeds thereof, as security for the Obligations (as defined in the relevant
Mortgage), in each case (except as expressly set forth therein) prior and superior in right to any
other Person (except for Permitted Liens). Schedule 1.1 lists, as of the Original Closing Date,
each parcel of owned real property located in the United States and held by the Borrower or any of
its then existing Subsidiaries that has a value, in the opinion of the Borrower, in excess of
$1,500,000.

               (c) When delivered and at all times thereafter, each Intellectual Property Security Agreement
is effective to create in favor of the Administrative Agent, for the benefit of the Secured
Parties, a legal, valid and enforceable security interest in the Intellectual Property Collateral
described therein and the proceeds and products thereof, except as enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors’ rights generally. Upon the filing of (i) each Intellectual Property
Security Agreement in the appropriate indexes of the United States Patent and Trademark Office (the
“PTO”) relative to United States patents and United States trademarks, and the United
States Copyright Office relative to United States copyrights, if any, and the taking of appropriate
actions with respect to Intellectual Property which is the subject of a registration or application
outside the United States under applicable local laws, together with provision for payment of all
requisite fees, and (ii) financing statements in appropriate form for filing in the offices
specified on Schedule 4 of the Guarantee and Collateral Agreement, each Intellectual Property
Security Agreement shall constitute (to the extent provided in the Guarantee and Collateral
Agreement) a perfected Lien on, and security interests in, all right, title and interest of the
Loan Parties in such Intellectual Property Collateral and the proceeds and products thereof, as
security for the Obligations (as defined in the Guarantee and Collateral Agreement), in each case
(except as expressly set forth therein) prior and superior in right to any other Person (except for
Permitted Liens); provided that subsequent filings in the PTO and United States Copyright Office
and actions under foreign law may be necessary with respect to registrations for Intellectual
Property acquired by any Loan Party after the date hereof.

          5.20. Solvency. Each Group Member is, and after giving effect to the Acquisition and
the incurrence of all Indebtedness and obligations being incurred in connection herewith and
therewith will be and will continue to be, Solvent.

          5.21. [Reserved].

          5.22. Regulation H. No Mortgage encumbers improved real property that is located in
an area that has been identified by the Secretary of Housing and Urban Development as an area
having special flood hazards and in respect of which the procurement of flood insurance is required
by any Requirement of Law, unless such flood insurance has been obtained and is in full force and
effect.

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          5.23. Certain Documents. The Borrower has delivered to the Administrative Agent a
complete and correct copy of the Related Agreements, including any amendments, supplements or
modifications with respect to any such Related Agreements.

SECTION 6. CONDITIONS PRECEDENT

          6.1. Conditions to Initial Extension of Credit. The agreement of each Lender to make
the initial extension of credit requested to be made by it under the Original Credit Agreement was
subject to the satisfaction, prior to the making of such extension of credit on the Original
Closing Date, of the conditions precedent set forth in Section 6.1 of the Original Credit
Agreement, which conditions were satisfied on the Original Closing Date or were otherwise addressed
in a manner acceptable to Administrative Agent and the Lenders at such time.

          6.2. Conditions to Each Extension of Credit. The agreement of each Lender to make any
extension of credit requested to be made by it on any date (including its initial extension of
credit) is subject to the satisfaction of the following conditions precedent:

               (a) No Default. No Default or Event of Default shall have occurred and be continuing
on such date or after giving effect to the extensions of credit requested to be made on such date.

               (b) Representations and Warranties. Each of the representations and warranties made
by any Loan Party in or pursuant to the Loan Documents shall be true and correct in all material
respects on and as of such date as if made on and as of such date, except to the extent that such
representations and warranties refer to an earlier date, in which case they shall be true and
correct in all material respects as of such earlier date.

Each borrowing by and issuance of a Letter of Credit on behalf of the Borrower hereunder shall
constitute a representation and warranty by the Borrower as of the date of such extension of credit
that the conditions contained in this Section 6.2 have been satisfied.

          6.3. Conditions to the Extensions of Credit on the First Amendment Effective Date.
The agreement of each Additional Term Lender to make extensions of credit requested to be made by
it on the First Amendment Effective Date is subject to the satisfaction, prior to or substantially
concurrently with the making of such extension of credit on the First Amendment Effective Date, of
the following conditions precedent:

               (a) Credit Agreement; Security Documents. The Lead Arrangers shall have received (i)
this Agreement, or, in the case of the Lenders, this Agreement or an Addendum, executed and
delivered by each Agent, Holdings, the Borrower and each Person identified herein as a Lender
signatory hereto, (ii) an Assumption Agreement (in the form attached as Annex 1 to the Guarantee
and Collateral Agreement), executed and delivered by Auto Disposal Systems, Inc. and its
Subsidiaries to the extent required by the Guarantee and Collateral Agreement and (iii) an
Acknowledgment and Consent in the form attached to the Guarantee and Collateral Agreement, executed
and delivered by each Issuer (as defined therein), if any, that is not a Loan Party.

               (b) Conversion Notices; Funding of Additional Term Loans. (i) The Lead Arrangers
shall have received by telefax or other facsimile, counterparts of executed Conversion Notices from
Term Lenders and/or Addendums with Additional Term Loan Commitments in an aggregate amount equal
(in any combination) to $230,000,000, (ii) the funding of the Additional Term Loans committed to

52

 

be funded on the First Amendment Effective Date under each such Additional Term Loan
Commitment shall have occurred, (iii) the Borrower shall have delivered to the Lead Arrangers
irrevocable notice of the voluntary prepayment of all Existing Term Loans not subject to a
Conversion Notice and irrevocable instruction to disburse such funding to the prepayment of such
non-converting Existing Term Loans, and (iv) the Borrower shall have paid all unpaid interest
accrued on Existing Term Loans (whether or not converted to Converted Term Loans) to the date on
which the foregoing conditions are satisfied and all additional amounts that would have been
payable under Section 4.11 if all Existing Term Loans (whether or not converted) had been paid in
full on such date.

               (c) Closing Certificate of the Borrower. The Lead Arrangers shall have received (i) a
certificate executed on behalf of the Borrower by a Responsible Officer of the Borrower dated the
First Amendment Effective Date, substantially in the form of Exhibit K with appropriate insertions
and attachments including the certificate or articles of incorporation of the Borrower certified by
the relevant authority of the jurisdiction of organization of the Borrower and (ii) a long form
good standing certificate for the Borrower from its jurisdiction of organization.

               (d) First Amendment Effective Date Pro Forma Balance Sheet; Financial Statements. The
Lenders shall have received the First Amendment Effective Date Pro Forma Balance Sheet.

               (e) Fees. The Lead Arrangers shall have received confirmation reasonably satisfactory
to them that all fees required to be paid and all invoiced expense reimbursements payable by any
Group Member for account of any of the Agents or Lenders on or before the First Amendment Effective
Date will be paid concurrently with the effectiveness of this Agreement.

               (f) Closing Certificate of the Guarantors, Certificate of Incorporation; Good
Standing. The Lead Arrangers shall have received (i) a certificate of each Guarantor, dated
the First Amendment Effective Date, substantially in the form of Exhibit C, with appropriate
insertions and attachments including the certificate of incorporation or formation of each
Guarantor certified by the relevant authority of the jurisdiction of organization of such Guarantor
and (ii) a long form good standing certificate for each Guarantor from its jurisdiction of
organization.

               (g) Legal Opinions. The Lead Arrangers shall have received the executed legal opinion
of Katten Muchin Rosenman LLP counsel to the Borrower and its Subsidiaries, substantially in the
form of Exhibit F-2, and the executed legal opinion of Buechner, Haffer, O’Connell, Meyers, Healey
& Koenig Co., C.P.A., substantially in the form of Exhibit F-3.

               (h) Pledged Stock; Stock Powers; Pledged Notes. The Lead Arrangers shall have
received (i) certificates representing the shares of Capital Stock listed on Schedule 6.3(g)
hereof, together with an undated stock power or equivalent for each such certificate executed in
blank by the pledgor thereof and (ii) each promissory note (if any) listed on Schedule 6.3(g)
hereof endorsed (without recourse) in blank (or accompanied by an executed transfer form in blank)
by the pledgor thereof.

               (i) Solvency Certificate. The Lead Arrangers shall have received and shall be
reasonably satisfied with a solvency certificate of the chief financial officer of Holdings
substantially in the form of Exhibit J, which shall document the solvency of the Loan Parties as of
the First Amendment Effective Date after giving effect to the Ohio Acquisition and other
transactions contemplated hereby.

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               (j) Insurance. The Lead Arrangers shall have received insurance certificates
satisfying the requirements of Section 5.3 of the Guarantee and Collateral Agreement.

               (k) Miscellaneous. The Lead Arrangers shall have received such other documents,
agreements, certificates and information as the Lead Arrangers or the Required Lenders may
reasonably request.

SECTION 7. AFFIRMATIVE COVENANTS

          Holdings and the Borrower hereby jointly and severally agree that, so long as the Commitments
remain in effect, any Letter of Credit remains outstanding or any Loan or other amount is owing to
any Lender or Agent hereunder, the Borrower shall and shall cause each of its Subsidiaries to:

          7.1. Financial Statements. Furnish to the Administrative Agent and each Lender:

               (a) as soon as available, but in any event within 90 days after the end of each fiscal year of
the Borrower, a copy of the audited consolidated balance sheet of the Borrower and its consolidated
Subsidiaries as at the end of such year and the related audited consolidated statements of income
and of cash flows for such year, setting forth in each case in comparative form the figures for the
previous year and the current year budget, reported on without a “going concern” or like
qualification or exception, or qualification arising out of the scope of the audit, by KPMG LLC or
other independent certified public accountants of nationally recognized standing; and

               (b) as soon as available, but in any event not later than 45 days after the end of each of the
first three quarterly periods of each fiscal year of the Borrower , the unaudited consolidated
balance sheet of the Borrower and its consolidated Subsidiaries as at the end of such quarter and
the related unaudited consolidated statements of income and of cash flows for such quarter and the
portion of the fiscal year through the end of such quarter, setting forth in each case in
comparative form the figures for the previous year and the current year budget, certified by a
Responsible Officer as being fairly stated in all material respects (subject to normal year-end
audit adjustments and the absence of footnotes).

All such financial statements shall be complete and correct in all material respects and shall be
prepared in reasonable detail and in accordance with GAAP applied consistently throughout the
periods reflected therein and with prior periods (except as approved by such accountants or
officer, as the case may be, and disclosed therein).

Notwithstanding the foregoing such financial statements may be delivered in the form and with the
accompanying certifications required by applicable Requirements of Law for filing Forms 10-K and
Forms 10-Q with the SEC.

          7.2. Certificates; Other Information. Furnish to the Administrative Agent and each
Lender (or, in the case of clause (g), to the relevant Lender):

               (a) concurrently with the delivery of any financial statements pursuant to Section 7.1, (i) a
certificate of a Responsible Officer stating that, to the best of each such Responsible Officer’s
knowledge, each Group Member during such period has observed in all material respects or performed
all of the covenants and other agreements, and satisfied every condition, contained in this
Agreement and the other Loan Documents to be observed, performed or satisfied by it, and that such
Responsible Officer has obtained no knowledge of any Default or Event of Default, in each case
except as specified in such certificate and (ii) in the case of quarterly or annual financial
statements, (x) a

54

 

Compliance Certificate containing all information and calculations reasonably necessary for
determining compliance by each Group Member with the provisions of this Agreement referred to
therein as of the last day of the fiscal quarter or fiscal year of the Borrower, as the case may
be, and, if applicable, for determining the Applicable Margins and Commitment Fee Rate, and (y) to
the extent not previously disclosed to the Administrative Agent, a description of any change in the
jurisdiction of organization of any Loan Party and, concurrently with the delivery of any financial
statements pursuant to Section 7.1(a) only, a listing of any registered or applied-for material
Intellectual Property acquired by any Loan Party since the date of the most recent list delivered
pursuant to this clause (y) (or, in the case of the first such list so delivered, since the
Original Closing Date);

               (b) as soon as available, and in any event no later than 45 days after the end of each fiscal
year of the Borrower, a detailed consolidated budget for the following fiscal year (including a
projected consolidated balance sheet of the Borrower and its Subsidiaries as of the end of the
following fiscal year, the related consolidated statements of projected cash flow, projected
changes in financial position and projected income and a description of the underlying assumptions
applicable thereto) (collectively, the “Projections”), which Projections shall in each case
be accompanied by a certificate of a Responsible Officer stating that such Projections are based on
reasonable estimates, information and assumptions and that such Responsible Officer has no reason
to believe that such Projections are incorrect or misleading in any material respect, it being
recognized by the Lenders that the projection and pro forma financial information contained in the
material referenced above is based upon good faith estimates and assumptions believed by management
of the Borrower to be reasonable at the time made and that such financial information as it relates
to future events is not to be viewed as fact and that actual results during the period or periods
covered by such financial information may differ from the projected results set forth therein by a
material amount;

               (c) if the Borrower is not then a reporting company under the Securities Exchange Act of 1934,
as amended, within 45 days after the end of each fiscal quarter of the Borrower (90 days, in the
case of the fourth fiscal quarter of any Fiscal Year), a narrative discussion and analysis of the
financial condition and results of operations of the Borrower and its Subsidiaries for such fiscal
quarter and for the period from the beginning of the then current fiscal year to the end of such
fiscal quarter, as compared to the portion of the Projections covering such periods and to the
comparable periods of the previous year;

               (d) no later than five Business Days prior to the effectiveness thereof, copies of
substantially final drafts of any proposed amendment, supplement, waiver or other modification with
respect to the Senior Unsecured Note Indenture or the Acquisition Documentation;

               (e) within five Business Days after the same are sent, copies of all financial statements and
reports that Holdings, any Parent or the Borrower sends to the holders of any class of its debt
securities or public equity securities and, within five Business Days after the same are filed,
copies of all financial statements and reports that Holdings or the Borrower may make to, or file
with, the SEC;

               (f) as soon as possible and in any event within 10 days of obtaining knowledge thereof: (i)
notice of any development, event, or condition that, individually or in the aggregate with other
developments, events or conditions that, individually or in the aggregate, would reasonably be
expected to result in a Material Adverse Effect or liability in excess of the Material
Environmental Amount, provided that, to the extent any such development, event, etc., is
required by law to be reported to any Governmental Agency within a specific deadline which is
longer than ten days, notice thereof to the Administrative Agent within such deadline shall be
deemed timely pursuant to this Subsection 7.2(g); and (ii) any notice that any Governmental
Authority may deny any application for an

55

 

Environmental Permit sought by, or materially modify, revoke or refuse to renew any
Environmental Permit or any other material Permit held by any Group Member or condition approval of
any such material Permit on terms and conditions that are materially burdensome to any such Person,
or to the operation of any of its businesses (both before and after giving effect to the
Acquisition) or any property owned by such Person, in each case that would reasonably be expected
to result in a Material Adverse Effect or liability in excess of the Material Environmental Amount;
and

               (g) promptly, such additional financial and other information as the Administrative Agent or
any Lender may from time to time reasonably request.

          7.3. Payment of Obligations. Pay, discharge or otherwise satisfy at or before
maturity or before they become delinquent, as the case may be, all its material obligations of
whatever nature, except where the amount or validity thereof is currently being contested in good
faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have
been provided on the books of the relevant Group Member or where failure to pay, discharge or
otherwise satisfy such material obligations, in the aggregate, has not had and would not reasonably
be expected to result in a Material Adverse Effect.

          7.4. Maintenance of Existence; Compliance. (a) (i) Preserve, renew and keep in full
force and effect its organizational existence and (ii) take all reasonable action to maintain all
rights, privileges and franchises necessary to conduct its business, except, in each case, as
otherwise permitted by Section 8.4 and except to the extent that failure to do so would not
reasonably be expected to have a Material Adverse Effect; and (b) comply with all Contractual
Obligations and Requirements of Law except to the extent that failure to comply therewith would
not, in the aggregate, reasonably be expected to have a Material Adverse Effect.

          7.5. Maintenance of Property; Insurance. (a) Keep all material property useful and
necessary in its business in good working order and condition, ordinary wear and tear excepted and
(b) maintain with reputable insurance companies insurance on all its property in at least such
amounts and against such risks (but including in any event public liability, product liability and
business interruption) as are usually insured against in the same general area by companies engaged
in the same or a similar business.

          7.6. Inspection of Property; Books and Records; Discussions. (a) Keep proper books of
records and account in which full, true and correct entries in conformity with GAAP and all
Requirements of Law shall be made of all dealings and transactions in relation to its business and
activities and (b) permit, upon reasonable prior notice, any persons designated by the
Administrative Agent, or upon the occurrence and during the continuance of an Event of Default, any
Lender, to visit and inspect any of its properties and examine and make abstracts from any of its
books and records at such reasonable times and upon reasonable intervals and to discuss the
business, operations, properties and financial and other condition of the Group Members with
officers of the Group Members and with their independent certified public accountants at such
reasonable times and upon reasonable intervals, in each case as any Administrative Agent or, upon
the occurrence of and during the continuance of an Event of Default, any Lender may reasonably
request.

          7.7. Notices. Promptly upon any Responsible Officer of any Group Member acquiring
knowledge thereof, give notice to the Administrative Agent and each Lender of the following:

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

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               (b) any (i) default or event of default under any Contractual Obligation of any Group Member
or (ii) litigation, investigation or proceeding that may exist at any time between any Group Member
and any Governmental Authority, that in either case, if not cured or if adversely determined, as
the case may be, would reasonably be expected to have a Material Adverse Effect;

               (c) any litigation or proceeding affecting any Group Member (i) which, if determined adversely
to such Group Member (after taking into account any available insurance coverage), would have or
would reasonably be expected to have a Material Adverse Effect, (ii) in which injunctive or other
temporary or specific relief is sought which, if granted, would reasonably be expected to have a
Material Adverse Effect or (iii) which relates to any Loan Document;

               (d) the following events, as soon as possible and in any event within 30 days after the
Borrower knows or has reason to know thereof: (i) the occurrence of any Reportable Event with
respect to any Plan, the incurrence of an “accumulated funding deficiency” (as defined in Section
302 of ERISA) (whether or not waived) with respect to a Plan, the creation of any Lien in favor of
the PBGC or a Plan or any withdrawal from, or the termination, Reorganization or Insolvency of, any
Multiemployer Plan or (ii) the institution of proceedings or the taking of any other action by the
PBGC or the Borrower or any Commonly Controlled Entity or any Multiemployer Plan with respect to
the withdrawal from, or the termination, Reorganization or Insolvency of, any Plan; and

               (e) any development or event that has had or would reasonably be expected to have a Material
Adverse Effect.

Each notice pursuant to this Section 7.7 shall be accompanied by a statement of a Responsible
Officer setting forth details of the occurrence referred to therein and stating what action, if
any, the relevant Group Member proposes to take with respect thereto.

          7.8. Environmental Laws. (a) Comply in all material respects with, and make all
commercially reasonable efforts to ensure compliance in all material respects by all tenants and
subtenants, if any, with, all applicable Environmental Laws and Environmental Permits, and obtain
and comply in all material respects with and maintain, and make all commercially reasonable efforts
to ensure that all tenants and subtenants obtain and comply in all material respects with and
maintain, any and all licenses, approvals, notifications, registrations or permits required by
applicable Environmental Laws, in each case except for any such non-compliance or failure to
obtain, individually or in the aggregate, would not be expected to result in a Material Adverse
Effect.

               (b) Unless being contested in good faith, conduct and complete in all material respects all
investigations, studies, sampling and testing, and all remedial, removal and other actions required
under Environmental Laws and promptly comply in all material respects with all lawful orders and
directives of all Governmental Authorities regarding Environmental Laws; provided that
compliance within deadlines set by such orders or authorities shall be deemed to be prompt.

          7.9. Interest Rate Protection. In the case of the Borrower, within 60 days after the
First Amendment Effective Date, enter into, and thereafter maintain, Hedge Agreements to the extent
necessary to provide that at least 50% of the aggregate principal amount of the Senior Unsecured
Notes and the Term Loans is subject to either a fixed interest rate or interest rate protection for
a period of not less than two years, which Hedge Agreements shall have terms and conditions
reasonably satisfactory to the Administrative Agent.

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          7.10. Additional Collateral, etc. (a) With respect to any owned property acquired
after the Original Closing Date by the Borrower or any Subsidiary Guarantor as to which the
Administrative Agent, for the benefit of the Secured Parties, does not have a perfected Lien
(except as expressly set forth in the applicable Security Document), promptly (or within such
period of time as reasonably consented to by the Administrative Agent) (i) execute and deliver to
the Administrative Agent such amendments to the Guarantee and Collateral Agreement or such other
documents as the Administrative Agent reasonably deems necessary or advisable to grant to the
Administrative Agent, for the benefit of the Secured Parties, a security interest in such property
and (ii) take all actions reasonably necessary or advisable to grant to the Administrative Agent,
for the benefit of the Secured Parties, a (except as expressly set forth in the applicable Security
Document) perfected security interest in such property, including the filing of Uniform Commercial
Code financing statements in such jurisdictions as may be required by the Guarantee and Collateral
Agreement or by law or as may be reasonably requested by the Administrative Agent.

               (b) With respect to any fee simple interest in any real property having a value of at least
$1,500,000 acquired after the Original Closing Date by the Borrower or any Subsidiary Guarantor
promptly (or within such period of time as reasonably consented to by the Administrative Agent) (i)
execute, acknowledge and deliver a Mortgage in favor of the Administrative Agent, for the benefit
of the Secured Parties, in an amount no greater than 125% of the purchase price if the property is
located in a state with mortgage recording tax covering such real property, (ii) if requested by
the Administrative Agent, provide the Secured Parties with (x) title and extended coverage
insurance covering such real property in an amount at least equal to the purchase price of such
real property as well as a current ALTA survey thereof, together with a surveyor’s certificate and
(y) any consents or estoppels reasonably deemed necessary or advisable by the Administrative Agent
in connection with such Mortgage, each of the foregoing in form and substance reasonably
satisfactory to the Administrative Agent and (iii) if reasonably requested by the Administrative
Agent, deliver to the Administrative Agent legal opinions relating to the matters described above,
which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the
Administrative Agent.

               (c) With respect to any new Subsidiary (other than a Foreign Subsidiary) created or acquired
after the Original Closing Date by any Group Member (which, for the purposes of this paragraph (c),
shall include any existing Subsidiary that ceases to be a Foreign Subsidiary), promptly (or within
such period of time as reasonably consented to by the Administrative Agent) (i) execute and deliver
to the Administrative Agent such amendments to the Guarantee and Collateral Agreement as the
Administrative Agent reasonably deems necessary or advisable to grant to the Administrative Agent,
for the benefit of the Secured Parties, a perfected security interest in the Capital Stock of such
new Subsidiary that is owned by any Group Member, (ii) deliver to the Administrative Agent the
certificates, if any, representing such Capital Stock, together with undated stock powers or
equivalents, in blank, executed and delivered by a duly authorized officer of the relevant Group
Member, (iii) cause such new Subsidiary (A) to become a party to the Guarantee and Collateral
Agreement, (B) to take such actions reasonably necessary or reasonably advisable to grant to the
Administrative Agent for the benefit of the Secured Parties a (to the extent provided in the
Guarantee and Collateral Agreement) perfected security interest in the Collateral described in the
Guarantee and Collateral Agreement with respect to such new Subsidiary, including the filing of
Uniform Commercial Code financing statements in such jurisdictions as may be required by the
Guarantee and Collateral Agreement or by law or as may be reasonably requested by the
Administrative Agent and (C) to deliver to the Administrative Agent a certificate of such
Subsidiary, substantially in the form of Exhibit C, with appropriate insertions and attachments,
and (iv) if requested by the Administrative Agent, deliver to the Administrative Agent legal
opinions relating to the matters described above, which opinions shall be in form and substance,
and from counsel, reasonably satisfactory to the Administrative Agent.

58

 

               (d) The Borrower will not issue or sell any of its Capital Stock (i) to any Person other than
Holdings, (ii) unless such Capital Stock is issued subject to the security interest granted by the
Guarantee and Collateral Agreement or (iii) in any form except as a certificated security delivered
at or substantially concurrent with issuance to the Administrative Agent and pledged pursuant to
the Guarantee and Collateral Agreement.

               (e) With respect to any new Foreign Subsidiary created or acquired after the Original Closing
Date by any Group Member (other than by any Group Member that is a Foreign Subsidiary), promptly
(i) (or within such period of time as reasonably consented to by the Administrative Agent) execute
and deliver to the Administrative Agent such amendments or supplements to the Guarantee and
Collateral Agreement as the Administrative Agent deems necessary or advisable to grant to the
Administrative Agent, for the benefit of the Secured Parties, a (except as expressly set forth in
the Guarantee and Collateral Agreement) perfected security interest in the Capital Stock of such
new Subsidiary that is owned by any such Group Member (provided that in no event shall more than
65% of the total outstanding voting Capital Stock of any such new Subsidiary be required to be so
pledged), (ii) deliver to the Administrative Agent the certificates, if any, representing such
Capital Stock, together with undated stock powers or equivalents, in blank, executed and delivered
by a duly authorized officer of the relevant Group Member, as the case may be, and take such other
action as may be reasonably necessary or, in the reasonable opinion of the Administrative Agent,
desirable to perfect the Administrative Agent’s security interest therein, and (iii) if requested
by the Administrative Agent, deliver to the Administrative Agent legal opinions relating to the
matters described above, which opinions shall be in form and substance, and from counsel,
reasonably satisfactory to the Administrative Agent.

          7.11. Use of Proceeds. Use the proceeds of the Loans only for the purposes specified
in Section 5.16.

          7.12. [Reserved].

          7.13. Further Assurances. From time to time execute and deliver, or cause to be
executed and delivered, such additional instruments, certificates or documents, and take all such
actions, as the Administrative Agent may reasonably request for the purposes of implementing or
effectuating the provisions of this Agreement and the other Loan Documents, or of perfecting or
renewing the rights of the Administrative Agent and the Lenders with respect to the Collateral (or
with respect to any additions thereto or replacements or proceeds thereof or with respect to any
other property or assets hereafter acquired by the borrower or any Subsidiary which may be deemed
to be part of the Collateral) pursuant hereto or thereto. Upon the exercise by the Administrative
Agent or any Lender of any power, right, privilege or remedy pursuant to this Agreement or the
other Loan Documents which requires any consent, approval, recording qualification or authorization
of any Governmental Authority, the Borrower will, if reasonably requested by the Administrative
Agent, use commercially reasonable efforts to execute and deliver, or to cause the execution and
delivery of, all applications, certifications, instruments and other documents and papers that the
Administrative Agent or such Lenders may be required to obtain from the Borrower or any of its
Subsidiaries for such governmental consent, approval, recording, qualification or authorization.

          7.14. Post-Closing Delivery. (a) Within ninety (90) days after the First
Amendment Effective Date, deliver to the Administrative Agent, audited financials with respect to
each business to be acquired pursuant to the Ohio Acquisition.

               (b) Within fourteen (14) days after the First Amendment Effective Date, deliver to the
Collateral Agent, (i) executed modifications to each of the existing Mortgages delivered

59

 

pursuant to the Original Credit Agreement in recordable form in each applicable jurisdiction
and otherwise in form and substance reasonably satisfactory to the Collateral Agent and (ii)
current, date down endorsements in respect of each of the mortgage title insurance policies
delivered pursuant to Section 7.12 of the Original Credit Agreement in form and substance
reasonably satisfactory to the Collateral Agent, together with evidence of payment of all title
premiums, recording tax, recording fees and related expenses.

SECTION 8. NEGATIVE COVENANTS

          Holdings and the Borrower hereby jointly and severally agree that, so long as the Commitments
remain in effect, any Letter of Credit remains outstanding or any Loan or other amount is owing to
any Lender or Agent hereunder, the Borrower shall not, and shall not permit any of its Subsidiaries
to, directly or indirectly:

          8.1. Financial Condition Covenants. (a) Maximum Leverage Ratio. Permit the
Consolidated Leverage Ratio, as of any date set forth below, to exceed the amount set forth
opposite such date below:

	 	 	 	 	 
	 	Last Day of Fiscal Quarter	 	Maximum Consolidated
	 	Ending On or About	 	Leverage Ratio
	 
	 	September 30, 2006	 	6.25 to 1.00
	 
	 	December 31, 2006	 	6.25 to 1.00
	 
	 	March 31, 2007	 	6.00 to 1.00
	 
	 	June 30, 2007	 	5.75 to 1.00
	 
	 	September 30, 2007	 	5.75 to 1.00
	 
	 	December 31, 2007	 	5.50 to 1.00
	 
	 	March 31, 2008	 	5.50  to 1.00
	 
	 	June 30, 2008	 	5.50  to 1.00
	 
	 	September 30, 2008	 	5.50  to 1.00
	 
	 	December 31, 2008	 	5.00  to 1.00
	 
	 	March 31, 2009	 	5.00 to 1.00
	 
	 	June 30, 2009	 	5.00  to 1.00
	 
	 	September 30, 2009	 	5.00  to 1.00
	 
	 	December 31, 2009	 	4.50 to 1.00
	 
	 	March 31, 2010	 	4.50 to 1.00
	 
	 	June 30, 2010	 	4.50 to 1.00
	 
	 	September 30, 2010	 	4.50 to 1.00
	 
	 	December 31, 2010	 	4.00 to 1.00
	 
	 	March 31, 2011	 	4.00 to 1.00
	 
	 	June 30, 2011	 	4.00 to 1.00
	 
	 	September 30, 2011	 	4.00 to 1.00
	 
	 	December 31, 2011	 	3.75 to 1.00
	 
	 	March 31, 2012	 	3.75 to 1.00

               (b) Minimum Interest Coverage Ratio. Permit the Consolidated Interest Coverage Ratio for any
period of four consecutive fiscal quarters of the Borrower ending on any date set forth below to be
less than the ratio set forth below opposite such date below (provided that, for purposes
of calculating Consolidated Interest Coverage Ratio for each of the periods ended September 30,
2006, December 31, 2006 and March 31, 2007, Consolidated Interest Expense shall be deemed to equal

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Consolidated Interest Expense for each full fiscal quarter commencing after the First
Amendment Effective Date multiplied by 4, 2 and 4/3, respectively):

	 	 	 	 	 
	 	Last Day of Fiscal Quarter	 	Maximum Consolidated
	 	Ending On or About	 	Leverage Ratio
	 
	 	September 30, 2006	 	1.75 to 1.00
	 
	 	December 31, 2006	 	1.75 to 1.00
	 
	 	March 31, 2007	 	1.75 to 1.00
	 
	 	June 30, 2007	 	1.75 to 1.00
	 
	 	September 30, 2007	 	1.75 to 1.00
	 
	 	December 31, 2007	 	1.75 to 1.00
	 
	 	March 31, 2008	 	1.75 to 1.00
	 
	 	June 30, 2008	 	1.75 to 1.00
	 
	 	September 30, 2008	 	1.75 to 1.00
	 
	 	December 31, 2008	 	2.00 to 1.00
	 
	 	March 31, 2009	 	2.00 to 1.00
	 
	 	June 30, 2009	 	2.00 to 1.00
	 
	 	September 30, 2009	 	2.00 to 1.00
	 
	 	December 31, 2009	 	2.25 to 1.00
	 
	 	March 31, 2010	 	2.25 to 1.00
	 
	 	June 30, 2010	 	2.25 to 1.00
	 
	 	September 30, 2010	 	2.25 to 1.00
	 
	 	December 31, 2010	 	2.50 to 1.00
	 
	 	March 31, 2011	 	2.50 to 1.00
	 
	 	June 30, 2011	 	2.50 to 1.00
	 
	 	September 30, 2011	 	2.50 to 1.00
	 
	 	December 31, 2011	 	2.75 to 1.00
	 
	 	March 31, 2012	 	2.75 to 1.00

          8.2. Indebtedness. Create, issue, incur, assume, become liable in respect of or
suffer to exist any Indebtedness, except:

               (a) Indebtedness of any Loan Party pursuant to any Loan Document;

               (b) Indebtedness (i) of the Borrower to any Subsidiary, (ii) of any Wholly Owned Subsidiary
Guarantor to the Borrower or any other Subsidiary, (iii) of any Foreign Subsidiary to any Foreign
Subsidiary and (iv) subject to Section 8.8(k), of any Foreign Subsidiary to the Borrower or any
Wholly Owned Subsidiary Guarantor;

               (c) Guarantee Obligations incurred in the ordinary course of business by the Borrower or any
of its Subsidiaries of obligations of the Borrower, any Wholly Owned Subsidiary Guarantor and,
subject to Section 8.8(k), of any Foreign Subsidiary; and Guarantee Obligations incurred by any
Foreign Subsidiary of obligations of any other Foreign Subsidiary;

               (d) Indebtedness of the Borrower and its Subsidiaries outstanding on the First Amendment
Effective Date and listed on Schedule 8.2(d);

               (e) Indebtedness (including Capital Lease Obligations) secured by Liens permitted by Section
8.3(g) in an aggregate principal amount not to exceed $5,000,000 at any one time outstanding;

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               (f) Indebtedness of the Borrower in respect of the Senior Unsecured Notes in an aggregate
principal amount not to exceed $200,000,000, and Guarantee Obligations of any Subsidiary Guarantor
in respect of such Indebtedness subordinated to the same extent as the obligations of the Borrower
in respect of the Senior Unsecured Notes;

               (g) Hedge Agreements required under Section 7.9 or permitted under Section 8.12;

               (h) Indebtedness of Foreign Subsidiaries, and guarantees thereof by Foreign Subsidiaries,
incurred for working capital purposes in an aggregate principal amount not to exceed $5,000,000 at
any time;

               (i) Unsecured Indebtedness of Holdings in respect of Management Advances in an aggregate
principal amount not to exceed $2,500,000 incurred in any fiscal year;

               (j) guarantees of Indebtedness of directors, officers and employees of Holdings or any of its
Subsidiaries in respect of expenses of such Persons in connection with relocations and other
ordinary course of business purposes, if the aggregate amount of Indebtedness so guaranteed, when
added to the aggregate amount of unreimbursed payments theretofore made in respect of such
guarantees and the amount of Investments then outstanding under Section 8.8(f), shall not at any
time exceed $2,500,000;

               (k) Indebtedness of a Subsidiary of the Borrower acquired in a Permitted Acquisition and
outstanding at the time of such Permitted Acquisition, Indebtedness assumed at the time of a
Permitted Acquisition of an asset securing such Indebtedness, and refinancings, renewals or
extensions of any such Indebtedness that do not increase the outstanding principal amount or change
the obligor in respect thereof, if (i) such Indebtedness was not incurred in connection with, or
anticipation or contemplation of such Permitted Acquisition and (ii) the aggregate principal amount
of such Indebtedness, refinancings, renewals and extensions does not at any time exceed $5,000,000;

               (l) unsecured Indebtedness of the Borrower (which may be guaranteed by any or all Subsidiary
Guarantors), in an aggregate outstanding principal amount not to exceed $7,500,000 any time,
incurred to pay the purchase consideration of a Permitted Acquisition;

               (m) guarantees of Indebtedness of a Person which is not a Subsidiary of the Borrower and in
which the Borrower or a Subsidiary made an investment permitted by Section 8.8(n) or preferred
Capital Stock of a Foreign Subsidiary which such Foreign Subsidiary is obligated to purchase,
redeem, retire or otherwise acquire, if the aggregate outstanding principal amount so guaranteed
and the aggregate outstanding redemption value of such Capital Stock, when added to (i)
unreimbursed payments theretofore made in respect of such guarantees and (ii) Investments then
outstanding under Section 8.8(n), does not at any time exceed $2,500,000; and

               (n) additional unsecured Indebtedness of the Group Members in an aggregate principal amount
not to exceed $15,000,000 at any one time outstanding.

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          8.3. Liens. Create, incur, assume or suffer to exist any Lien upon any of its
property, whether now owned or hereafter acquired, except for:

               (a) Liens for taxes, assessments or government charges not yet due or that are being contested
in good faith by appropriate proceedings, provided that reserves with respect thereto are
maintained on the books of the relevant Group Member in conformity with GAAP;

               (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens
arising in the ordinary course of business that are not overdue for a period of more than 60 days
or that are being contested in good faith by appropriate proceedings;

               (c) pledges or deposits in connection with workers’ compensation, unemployment insurance, old
age pensions, or other social security or retirement benefits or similar legislation;

               (d) deposits to secure the performance of bids, trade contracts (other than for borrowed
money), leases, statutory obligations, surety and appeal bonds, performance bonds and other
obligations of a like nature incurred in the ordinary course of business;

               (e) easements, rights-of-way, restrictions and other similar encumbrances incurred in the
ordinary course of business that, in the aggregate, do not in any case materially interfere with
the ordinary conduct of the business of any Group Member;

               (f) Liens created pursuant to the Loan Documents;

               (g) Liens securing Indebtedness permitted by Section 8.2(e) if (i) such Liens are created
substantially simultaneously with the incurrence of such Indebtedness (for the acquisition of
certain property ) or within 90 days thereafter and (ii) such Liens do not at any time encumber any
property other than the property financed by such Indebtedness;

               (h) any interest or title of a lessor under any lease entered into by a Group Member in the
ordinary course of its business and covering only the assets so leased and other statutory and
common law landlords’ liens under leases;

               (i) Liens in existence on the First Amendment Effective Date listed on Schedule 8.3(i),
provided, that no such Lien is spread to cover any additional property after the First
Amendment Effective Date and the amount of the aggregate obligations, if any, secured by any such
Lien are not increased;

               (j) attachment and judgment Liens, to the extent and for so long as the underlying judgments
and decrees do not constitute an Event of Default pursuant to Section 9;

               (k) Liens on property or assets acquired pursuant to a Permitted Acquisition, or on property
or assets of a Subsidiary in existence at the time such Subsidiary is acquired pursuant to a
Permitted Acquisition, if (i) any Indebtedness secured by such Liens is permitted by Section
8.2(k), and (ii) such Liens are not incurred in connection with, or in contemplation or
anticipation of, such Permitted Acquisition and do not attach to any other asset of any Group
Member; and Liens on such property or assets securing refinancings, renewals and extensions of such
Indebtedness permitted under Section 8.2(k);

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               (l) Liens on assets of Foreign Subsidiaries securing Indebtedness permitted pursuant to
Section 8.2(h).

               (m) Liens on property subject to sale-leaseback transactions to the extent such Sale-Leaseback
Transactions are permitted by Section 8.11;

               (n) licenses, sublicenses, leases or subleases granted to other Persons not materially
interfering with the conduct of the business of the Borrower or any of its Subsidiaries taken as a
whole;

               (o) any encumbrances or restrictions (including put and call agreements) with respect to the
Capital Stock of any joint venture agreed to by the holders of such Capital Stock;

               (p) Liens not otherwise permitted by this Section so long as neither (i) the aggregate
outstanding principal amount of the obligations secured thereby nor (ii) the aggregate fair market
value (determined as of the date such Lien is incurred) of the assets subject thereto exceeds
$500,000 at any one time; and

               (q) any interest of the Borrower’s clients in vehicles that are on consignment to the Borrower
and any proceeds thereof.

          8.4. Fundamental Changes. Enter into any merger, consolidation or amalgamation, or
liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or Dispose of,
all or substantially all of its property or business, except:

               (a) that any Subsidiary of the Borrower may be merged or consolidated (i) with or into the
Borrower if the Borrower is the continuing or surviving corporation, (ii) with or into any Wholly
Owned Subsidiary Guarantor if the Wholly Owned Subsidiary Guarantor is the continuing or surviving
corporation) or (iii) subject to Section 8.8(k), with or into any Foreign Subsidiary; and any
Foreign Subsidiary may be merged or consolidated with or into any other Foreign Subsidiary;

               (b) that any Subsidiary of the Borrower may Dispose of any or all of its assets (upon
voluntary liquidation, winding up, dissolution or otherwise) as permitted by Section 8.5, or to the
Borrower or any Wholly Owned Subsidiary Guarantor or, subject to Section 8.8(k), any Foreign
Subsidiary; and any Foreign Subsidiary may Dispose of any or all of its assets (upon voluntary
liquidation or otherwise) to any other Foreign Subsidiary;

               (c) pursuant to the Merger; and

               (d) pursuant to any merger between the Borrower or a wholly-owned Subsidiary Guarantor and any
other Person; provided that the Borrower or such Subsidiary Guarantor, as the case may be,
is the surviving entity of any such merger.

          8.5. Disposition of Property. Dispose of any of its property, whether now owned or
hereafter acquired, or, in the case of any Subsidiary, issue or sell any shares of such
Subsidiary’s Capital Stock to any Person, except:

               (a) the Disposition of obsolete or worn out property in the ordinary course of business;

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               (b) the sale of inventory or the licensing or other disposition of intellectual property in
the ordinary course of business;

               (c) Dispositions permitted by Section 8.4(b);

               (d) the sale or issuance of any Subsidiary’s Capital Stock to the Borrower or any Wholly Owned
Subsidiary Guarantor; and the sale or issuance of any Foreign Subsidiary’s Capital Stock to any
other Foreign Subsidiary;

               (e) sale-leaseback transactions permitted by Section 8.11;

               (f) sales, transfers or dispositions by the Borrower or any of its Subsidiaries of
non-strategic assets purchased as part of a Permitted Acquisition, so long as (i) no Default then
exists or would result therefrom, (ii) the Borrower or such Subsidiary receives at least fair
market value (as determined in good faith by the Borrower), (iii) the aggregate proceeds received
by the Borrower or such Subsidiary from all such sales, transfers or dispositions relating to a
given Permitted Acquisition do not exceed 40% of the aggregate consideration paid for such
Permitted Acquisition, and (iv) such non-strategic assets are sold, transferred or disposed of on
or prior to the first anniversary of such Permitted Acquisition; and

               (g) the Disposition of other property having a fair market value not to exceed $10,000,000 in
the aggregate for any fiscal year if the consideration received from such Disposition is no less
than fair market value of such assets (as determined in good faith by the Borrower) of which at
least 75% is received in cash or Cash Equivalents at the closing of such Disposition.

          8.6. Restricted Payments. Declare or pay any dividend (other than dividends payable
solely in common stock of the Person making such dividend) on, or make any payment on account of,
or set apart assets for a sinking or other analogous fund for, the purchase, redemption,
defeasance, retirement or other acquisition of, any Capital Stock of any Group Member, whether now
or hereafter outstanding, or make any other distribution in respect thereof, either directly or
indirectly, whether in cash or property or in obligations of any Group Member (collectively,
“Restricted Payments”), except that:

               (a) any Subsidiary may make Restricted Payments to the Borrower or any Wholly Owned Subsidiary
Guarantor; and any Foreign Subsidiary may make Restricted Payments to another Foreign Subsidiary;

               (b) so long as no Event of Default has occurred and be continuing or would result therefrom,
the Borrower may pay dividends or make loans or advances to Holdings or any Parent to permit
Holdings or such Parent to (i) purchase Holdings’ or such Parent’s Capital Stock from present or
former officers, directors or employees of any Group Member upon the death, disability, retirement
or termination of employment or service of such officer, director or employee or otherwise under
any stock option or employee stock ownership plan approved by the board of directors of Holdings or
any Parent, in an aggregate amount (net of any proceeds received by Holdings or any Parent and
contributed to the Borrower in connection with resales of any Capital Stock so purchased) not
exceeding $2,500,000 in any fiscal year and (ii) pay management fees and expense reimbursements
expressly permitted by Section 8.10;

               (c) the Borrower may pay dividends or make loans and advances to Holdings or any Parent to
permit Holdings or any Parent to (i) pay corporate overhead expenses incurred in the ordinary
course of business in an aggregate amount not exceeding $1,000,000 in any fiscal year;

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(ii)
pay (A) any taxes, charges or assessments, including but not limited to sales, use, transfer,
rental, ad valorem, value-added, stamp, property, consumption, franchise, license, capital, net
worth, gross receipts, excise, occupancy, intangibles or similar taxes, charges or assessments
(other than federal, state or local taxes measured by income and federal, state or local
withholding imposed on payments made by Holdings or any Parent), required to be paid by Holdings or
any Parent by virtue of its being incorporated or otherwise organized or having Capital Stock
outstanding (but not by virtue of owning stock or other equity interests of any corporation or
other entity other than the Borrower, any of its Subsidiaries or any Parent or Holdings), or being
a holding company parent of the Borrower or receiving dividends from or other distributions in
respect of the Capital Stock of the Borrower, or having guaranteed any obligations of the Borrower
or any Subsidiary thereof, or having made any payment in respect of any of the items for which the
Borrower is permitted to make payments to Holdings or any Parent pursuant to the other clauses of
this Section 8.6, or (B) for so long as the Borrower is a member of a group filing a consolidated,
combined or unitary tax return with Holdings or any Parent,. amounts necessary for the payment of
federal, state or local income taxes payable by Holdings or such Parent and measured by the income
of the Borrower and its Subsidiaries which are payable by Holding or such Parent; (iii) to pay
expenses incurred by Holdings or any Parent in connection with offerings, registrations, or
exchange listings of equity securities and maintenance of same (A) where the net proceeds of such
offering are to be received by or contributed to the Borrower, or (B) in a prorated amount of such
expenses in proportion to the amount of such net proceeds intended to be so received or contributed
or loaned, or (C) otherwise on an interim basis prior to completion of such offering so long as
Holdings or any Parent shall cause the amount of such expenses to be repaid to the Borrower or the
relevant Subsidiary of the Borrower out of the proceeds of such offering promptly if such offering
is completed; (iv) to pay audit costs and any costs (including all professional fees and expenses)
incurred by Holdings or any Parent in connection with reporting obligations under or otherwise
incurred in connection with compliance with applicable laws, applicable rules or regulations of any
governmental, regulatory or self-regulatory body or stock exchange, including in respect of any
reports filed with respect to the Securities Act, the Securities Exchange Act or the respective
rules and regulations promulgated thereunder; and (v) to pay (A) obligations of Holdings or any
Parent under or in respect of director and officer insurance policies or indemnification
obligations to directors or officers, or (B) to pay fees and perform its other obligations pursuant
to the terms of the Management Agreement so long as no Default under Section 9(a) or 9(f) has
occurred and is continuing; and

          (d) the Borrower may make Restricted Payments pursuant to the Merger Agreement, and to
Holdings to permit Holdings to make payments in connection with the Merger and the financing
therefor (including payments of fees and expenses in connection therewith).

          8.7. Capital Expenditures. Make or commit to make any Capital Expenditure, except
Capital Expenditures of the Borrower and its Subsidiaries in the ordinary course of business not
exceeding $24,000,000 in fiscal year 2006, $22,000,000 in fiscal year 2007 and $19,000,000 in any
fiscal year thereafter; provided, that (i) up to 100% of any amount permitted but not
expended in any fiscal year may be carried over for expenditure in the next succeeding fiscal year
(it being understood that no portion of such carried over amount for any fiscal year may be used
until the entire initial amount of permitted Capital Expenditures for the current fiscal year has
been used for Capital Expenditures), and (ii) Capital Expenditures made with the proceeds of any
Reinvestment Deferred Amount or counted against any Available Retained ECF Amount will not be
subject to the forgoing restriction.

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          8.8. Investments. Make any advance, loan, extension of credit (by way of guaranty or
otherwise) or capital contribution to, or purchase any Capital Stock, bonds, notes, debentures or
other debt securities of, or any assets constituting a business unit of, or make any other
investment in, any Person (all of the foregoing, “Investments”), except:

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

               (b) Investments in Cash Equivalents;

               (c) Guarantee Obligations permitted by Section 8.2;

               (d) Guarantee Obligations to insurers required in connection with worker’s compensation and
other insurance coverage arranged in the ordinary course of business;

               (e) Investments held by the Borrower or any Subsidiary on the First Amendment Effective Date
and described on Schedule 8.8(e);

               (f) loans and advances to employees of any Group Member of the Borrower in the ordinary course
of business (including for travel, entertainment and relocation expenses) in an aggregate amount
for all Group Members not to exceed $2,500,000 at any one time outstanding;

               (g) non-cash consideration received in any Disposition permitted by Section 8.5;

               (h) (x) the Merger and (y) the Ohio Acquisition;

               (i) a Permitted Acquisition of all or substantially all of the assets of a Person or the
Capital Stock of a Person that becomes (in the case of an acquisition of capital stock) a Domestic
Subsidiary and a Subsidiary Guarantor;

               (j) intercompany Investments by any Group Member in the Borrower or any Person that, prior to
such Investment, is a Wholly Owned Subsidiary Guarantor;

               (k) Investments in Foreign Subsidiaries (including Permitted Acquisitions of Persons which
become Foreign Subsidiaries, incurrence of Guarantee Obligations with respect to obligations of
Foreign Subsidiaries, loans made to Foreign Subsidiaries and Investments resulting from mergers
with or sales of assets to any such Foreign Subsidiaries) so long as the aggregate amount of all
such Investments by the Borrower or any of its Subsidiaries (except Investments by a Foreign
Subsidiary in a Person that prior to such Investment is a Foreign Subsidiary) net of cash
repayments and sale proceeds in the case of Investments in the form of Indebtedness and cash equity
returns received as a distribution or dividend or by redemption or sale, when added to all
Investments permitted by Section 8.8(q) that would have been permitted to be classified as
investments permitted by this Section 8.8(k), does not exceed $5,000,000 at any time outstanding;

               (l) Investments (including debt obligations) received in connection with the bankruptcy or
reorganization of suppliers and customers and in good faith settlement of delinquent obligations
of, and other disputes with, customers and suppliers arising in the ordinary course of business;

               (m) Hedge Agreements required under Section 7.9 or permitted under Section 8.12;

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               (n) intercompany Investments by any Foreign Subsidiary in any other Foreign Subsidiary;

               (o) transactions permitted by Section 8.4; and

               (p) in addition to Investments otherwise expressly permitted by this Section, Investments by
the Borrower or any of its Subsidiaries in an aggregate amount, net of cash repayments and sale
proceeds in the case of Investments in the form of Indebtedness and cash equity returns received as
a distribution or dividend or by redemption or sale, not exceeding $15,000,000 at any time
outstanding.

          8.9. Optional Payments and Modifications of Certain Debt Instruments. (a) Make
or offer to make any optional or voluntary payment, prepayment, repurchase or redemption of or
otherwise optionally or voluntarily defease or segregate funds with respect to the Senior Unsecured
Notes or (b) amend, modify, waive or otherwise change, or consent or agree to any amendment,
modification, waiver or other change to, any of the terms of the Senior Unsecured Notes (other than
technical corrections or modifications) (i) except as permitted by Section 8.2(f) (in the case of
an increase in principal amount), which shortens the fixed maturity or increases the principal
amount of, or increases the rate or shortens the time of payment of interest on, or increases the
amount or shortens the time of payment of any principal or premium payable whether at maturity, at
a date fixed for prepayment or by acceleration or otherwise of the Indebtedness evidenced by any
Senior Unsecured Notes, or increases the amount of, or accelerates the time of payment of, any fees
or other amounts payable in connection therewith; (ii) which adds or relates to any material
affirmative or negative covenants or any events of default or remedies thereunder and the effect of
which is to subject the Borrower or any of its Subsidiaries to any more onerous or more restrictive
provisions; or (iii) which otherwise adversely affects the interests of the Lenders with respect to
the Senior Unsecured Notes or the interests of the Lenders under this Agreement or any other Loan
Document in any material respect; provided that this clause (b) of Section 8.9 shall not be
deemed to restrict (x) the execution, delivery and performance of the First Supplemental Indenture,
dated as of the Original Closing date, to the Senior Unsecured Note Indenture, (y) the execution,
delivery and performance of a supplemental indenture to the extent the amendment, modification or
change effected pursuant thereto relates solely to the addition of a “Subsidiary Guarantor” (as
defined in the Senior Unsecured Note Indenture) and related matters, pursuant to the terms of the
Senior Unsecured Note Indenture or (z) the consummation of exchange offers in which “Exchange
Notes” (as defined in the Senior Unsecured Note Indenture) are issued in exchange for any Senior
Unsecured Notes.

          8.10. Transactions with Affiliates. Enter into any transaction, including any
purchase, sale, lease or exchange of property, the rendering of any service or the payment of any
management, advisory or similar fees, with any Affiliate (other than Holdings, the Borrower or any
Wholly Owned Subsidiary) unless such transaction is (i) otherwise permitted under this Agreement,
(ii) in the ordinary course of business of the relevant Group Member and (iii) upon fair and
reasonable terms not materially less favorable to the relevant Group Member, than it would obtain
in an arm’s length transaction with a Person that is not an Affiliate. Notwithstanding the
foregoing, the Borrower and its Subsidiaries may do the following:

               (a) Restricted Payments may be made to the extent permitted by Section 8.6;

               (b) loans may be made and other transactions may be entered into by the Borrower and its
Subsidiaries to the extent permitted by Sections 8.2, 8.4, 8.5 and 8.8;

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               (c) customary fees and indemnifications may be paid to directors of any Parent, Holdings, the
Borrower and its Subsidiaries;

               (d) the Borrower and its Subsidiaries may enter into, and may make payments under, employment
agreements, employee benefits plans, stock option plans, indemnification provisions and other
similar compensatory arrangements with officers, employees and directors of any Parent, Holdings,
the Borrower and its Subsidiaries in the ordinary course of business;

               (e) the Borrower and its Subsidiaries may pay fees to the Sponsor and perform their other
obligations pursuant to the terms of the Management Agreement so long as no Default under Section
9(a) or (f) has occurred and is continuing;

               (f) the execution, delivery and performance of a tax sharing agreement with respect to any of
the charges, taxes or assessments described in clause (B) of Section 8.6(c)(ii), to the extent that
payments in connection with such tax sharing agreement are permitted by Section 8.6(c)(ii); and

               (g) the Merger and any other contemporaneous transactions contemplated hereby (including the
payment of fees and expenses in connection therewith) shall be permitted.

          8.11. Sales and Leasebacks. Enter into any arrangement with any Person providing for
the leasing by any Group Member of real or personal property that has been or is to be sold or
transferred by such Group Member to such Person or to any other Person to whom funds have been or
are to be advanced by such Person on the security of such property or rental obligations of such
Group Member, except for (a) a sale of real or personal property made for cash consideration in an
amount not less than the cost of such real or personal property and consummated within 90 days
after the Borrower or any Subsidiary acquires or completes the construction of such property, and
(b) the sale and contemporaneous leaseback of any real property for cash consideration, in an
aggregate amount not less than the fair market value (as determined in good faith by the Borrower)
if 100% of the Net Cash Proceeds of such sale are applied immediately upon receipt thereof to the
repayment of the Term Loans.

          8.12. Hedge Agreements. Enter into any Hedge Agreement, except (a) Hedge Agreements
entered into to hedge or mitigate risks to which the Borrower or any Subsidiary has actual exposure
(other than those in respect of Capital Stock) and (b) Hedge Agreements entered into in order to
effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating
rate to another floating rate or otherwise) with respect to any interest-bearing liability or
investment of the Borrower or any Subsidiary.

          8.13. Changes in Fiscal Periods. Permit the fiscal year of the Borrower to end on or
about a day other than December 31 or change the Borrower’s method of determining fiscal quarters
without the prior consent of the Administrative Agent.

          8.14. Negative Pledge Clauses. Enter into or suffer to exist or become effective any
agreement that prohibits or limits the ability of any Group Member to create, incur, assume or
suffer to exist any Lien upon any of its property or revenues, whether now owned or hereafter
acquired, to secure its obligations under the Loan Documents to which it is or may become a party
other than (a) this Agreement and the other Loan Documents, (b) the Senior Unsecured Note
Indenture, (c) any agreements governing any purchase money Liens or Capital Lease Obligations
otherwise permitted hereby, if the prohibition or limitation therein is only effective against the
assets financed thereby, and (d) agreements

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for the benefit of the holders of Liens described in
Sections 8.3(k) or 8.3(l) and applicable solely to the property subject to such Lien.

          8.15. Clauses Restricting Subsidiary Distributions. Enter into or suffer to exist or
become effective any consensual encumbrance or restriction on the ability of any Subsidiary of any
Group Member to (a) make Restricted Payments in respect of any Capital Stock of such Subsidiary
held by, or pay any Indebtedness owed to, any Group Member, (b) make loans or advances to, or other
Investments in, any Group Member or (c) transfer any of its assets to any Group Member, except for
such encumbrances or restrictions existing under or by reason of (i) any restrictions existing
under the Loan Documents, (ii) any encumbrance or restriction pursuant to applicable law or an
agreement in effect at or entered into on the Original Closing Date (including the Senior Unsecured
Note Indenture), (iii) any encumbrance or restriction with respect to a Subsidiary or any of its
Subsidiaries pursuant to an agreement relating to any Indebtedness incurred by such Subsidiary
prior to the date on which it became a Subsidiary (other than Indebtedness incurred as
consideration in, in contemplation of, or to provide all or any portion of the funds or credit
support utilized to consummate the transaction or series of related transactions pursuant to which
such Subsidiary became a Subsidiary) and outstanding on such date, which encumbrance or restriction
is not applicable to the any other Group Member or the properties or assets of any other Group
Member, (iv) any encumbrance or restriction pursuant to an agreement effecting a refinancing of
Indebtedness incurred pursuant to an agreement referred to in clause (i), (ii) or (iii) of this
covenant or this clause (iv) or contained in any amendment to an agreement referred to in clause
(i), (ii) or (iii) of this covenant or this clause (iv); provided, however, that the encumbrances
and restrictions contained in any such refinancing agreement or amendment are not materially less
favorable taken as a whole, as determined by the Borrower in good faith, to the Lenders than the
encumbrances and restrictions contained in such predecessor agreement, (v) with respect to clause
(c), any encumbrance or restriction (A) that restricts the subletting, assignment or transfer of
any property or asset or right and is contained in any lease, license or other contract entered
into in the ordinary course of business or (B) contained in security agreements securing
Indebtedness of a Subsidiary to the extent such encumbrance or restriction restricts the transfer
of the property subject to such security agreements, (vi) any restrictions with respect to a
Subsidiary imposed pursuant to an agreement that has been entered into in connection with the
Disposition of all or substantially all of the Capital Stock or assets of such Subsidiary, (vii)
any encumbrances or restrictions applicable solely to a Foreign Subsidiary and contained in any
Credit Facility extended to any Foreign Subsidiary; (viii) restrictions in the transfers of assets
pursuant to a Lien permitted by Section 8.3, (ix) any encumbrance or restriction arising under or
in connection with any agreement or instrument relating to any Indebtedness permitted by Section
8.2(k) if (A) either (x) the encumbrance or restriction applies only in the event of a payment
default or a default with respect to a financial covenant contained in the terms of such agreement
or instrument or (y) the Borrower in good faith determines that such encumbrance or restriction
will not cause the Borrower not to have the funds necessary to pay the Obligations when due and (B)
the encumbrance or restriction is not materially more disadvantageous to the Lenders than is
customary in comparable financings (as determined in good faith by the Borrower) and (x) any
encumbrance or restriction arising under or in connection with any agreement or instrument
governing Capital Stock of any Person other than a Wholly Owned Subsidiary that is acquired after
the Original Closing Date.

          8.16. Lines of Business. Enter into any business, either directly or through any
Subsidiary, except for those businesses in which the Borrower and its Subsidiaries are engaged on
the Original Closing Date or that are reasonably related thereto or are reasonable extensions
thereof.

          8.17. Amendments to Acquisition Documents; First Amendment Ohio Acquisition Documents.
Amend, supplement or otherwise modify the terms and conditions of the Acquisition Documentation or
the First Amendment Ohio Acquisition

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Documents without the prior consent of the Arrangers (such
consent not to be unreasonably withheld).

SECTION 9. EVENTS OF DEFAULT

          If any of the following events shall occur and be continuing:

               (a) the Borrower shall fail to pay any principal of any Loan or Reimbursement Obligation when
due in accordance with the terms hereof; or the Borrower shall fail to pay any interest on any Loan
or Reimbursement Obligation, or any other amount payable hereunder or under any other Loan
Document, within three Business Days after any such interest or other amount becomes due in
accordance with the terms hereof; or

               (b) any representation or warranty made or deemed made by any Loan Party herein or in any
other Loan Document shall prove to have been inaccurate in any material respect on or as of the
date made or deemed made; or

               (c) any Loan Party shall fail to observe or perform of any agreement contained in clause (i)
or (ii) of Section 7.4(a) (with respect to Holdings and the Borrower only), Section 7.7(a) or
Section 8 of this Agreement or Sections 5.5 and 5.7(b) of the Guarantee and Collateral Agreement,
or an “Event of Default” under and as defined in any Mortgage shall have occurred and be
continuing; or

               (d) any Loan Party shall fail to observe or perform any other agreement contained in this
Agreement or any other Loan Document (other than as provided in paragraphs (a) through (c) of this
Section 9), and such failure shall continue unremedied for a period of 30 days after written notice
thereof is given to the Borrower by the Administrative Agent or any Lender; or

               (e) any Group Member shall (i) default in making any payment of any principal of any
Indebtedness (including any Guarantee Obligation, but excluding the Loans) on the scheduled or
original due date with respect thereto; or (ii) default in making any payment of any interest on
any such Indebtedness beyond the period of grace, if any, provided in the instrument or agreement
under which such Indebtedness was created; or (iii) default in the observance or performance of any
other 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 beyond the period of grace provided in such instrument or agreement, if any, the effect of
which default or other event or condition is to cause, or to permit the holder or beneficiary of
such Indebtedness (or a trustee or agent on behalf of such holder or beneficiary) to cause, with
the giving of notice if required, such Indebtedness to become due prior to its stated maturity or
to become subject to a mandatory offer to purchase by the obligor thereunder or (in the case of any
such Indebtedness constituting a Guarantee Obligation) to become payable; provided, that a
default, event or condition described in clause (i), (ii) or (iii) of this paragraph (e) shall not
at any time constitute an Event of Default unless, at such time, one or more defaults, events or
conditions of the type described in clauses (i), (ii) and (iii) of this paragraph (e) shall have
occurred and be continuing with respect to Indebtedness the outstanding principal amount of which
exceeds in the aggregate $7,500,000; or

               (f) (i) any Group Member shall commence any case, proceeding or other action (A) under any
existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy,
insolvency, reorganization or relief of debtors, seeking to have an order for relief entered with
respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization,

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arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with
respect to it or its debts, or (B) seeking appointment of a receiver, trustee, custodian,
conservator or other similar official for it or for all or any substantial part of its assets, or
any Group Member shall make a general
assignment for the benefit of its creditors; or (ii) there shall be commenced against any
Group Member any case, proceeding or other action of a nature referred to in clause (i) above that
(A) results in the entry of an order for relief or any such adjudication or appointment or (B)
remains undismissed, undischarged or unbonded for a period of 60 days; or (iii) there shall be
commenced against any Group Member any case, proceeding or other action seeking issuance of a
warrant of attachment, execution, distraint or similar process against all or any substantial part
of its assets that results in the entry of an order for any such relief that shall not have been
vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof; or
(iv) any Group Member shall take any action in furtherance of, or indicating its consent to,
approval of, or acquiescence in, any of the acts set forth in clause (i), (ii), or (iii) above; or
(v) any Group Member shall generally not, or shall be unable to, or shall admit in writing its
inability to, pay its debts as they become due; or

               (g) (i) any Person shall engage in any “prohibited transaction” (as defined in Section 406 of
ERISA or Section 4975 of the Code) involving any Plan, (ii) any “accumulated funding deficiency”
(as defined in Section 302 of ERISA), whether or not waived, shall exist with respect to any Plan
or any Lien in favor of the PBGC or a Plan shall arise on the assets of any Group Member or any
Commonly Controlled Entity, (iii) a Reportable Event shall occur with respect to, or proceedings
shall commence to have a trustee appointed, or a trustee shall be appointed, to administer or to
terminate, any Single Employer Plan, which Reportable Event or commencement of proceedings or
appointment of a trustee is, in the reasonable opinion of the Required Lenders, likely to result in
the termination of such Plan for purposes of Title IV of ERISA, (iv) any Single Employer Plan shall
terminate in a distress termination under Section 4041(c) of ERISA or in an involuntary termination
by the PBGC under Section 4042 of ERISA, (v) any Group Member or any Commonly Controlled Entity
shall, or in the reasonable opinion of the Required Lenders is likely to, incur any liability in
connection with a withdrawal from, or the Insolvency or Reorganization of, a Multiemployer Plan or
(vi) any other event or condition shall occur or exist with respect to a Plan; and in each case in
clauses (i), (iii), (iv), (v) and (vi) above, such event or condition, together with all other such
events or conditions, if any, would, in the aggregate, reasonably be expected to have a Material
Adverse Effect; or

               (h) one or more judgments or decrees shall be entered against any Group Member involving in
the aggregate a liability (not paid or fully covered by insurance) of $5,000,000 or more, and all
such judgments or decrees shall not have been vacated, discharged, stayed or bonded pending appeal
within 30 days from the entry thereof; or

               (i) any of the Security Documents shall cease, for any reason other than as set forth in
Section 11.14, to be in full force and effect, or any Loan Party shall so assert, or any Lien
created by any of the Security Documents shall cease to be enforceable or (except as expressly set
forth therein or as a result of the actions, or lack thereof, by the Administrative Agent)
perfected as to any property of the Credit Parties having an aggregate value exceeding $1,500,000;
or

               (j) the guarantee contained in Section 2 of the Guarantee and Collateral Agreement shall
cease, for any reason, to be in full force and effect or any Loan Party shall so assert; or

               (k) (i) at any time prior to the initial registered public offering of voting Capital Stock of
Holdings or any Parent, the Permitted Investors shall in the aggregate be the “beneficial owner”
(as defined in Rules 13d-3 and 13d-5 under the Exchange Act) of (x) so long as Holdings is a
Subsidiary of any Parent (other than a Parent that is a Subsidiary of another Parent), shares of
voting

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Capital Stock having less than a majority of the total voting power of all outstanding
shares of such Parent or (y) if Holdings is not a Subsidiary of any Parent, shares of voting
Capital Stock having less than a majority of the total voting power of all outstanding shares of
voting Capital Stock of Holdings, (ii) at
any time on and after the date of the initial registered public offering of voting Capital
Stock of Holdings or any Parent, (x) the Permitted Investors shall in the aggregate be the
“beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) of (A) so long as
Holdings is a Subsidiary of any Parent (other than a Parent that is a Subsidiary of another
Parent), shares of voting Capital Stock having less than 35% of the total voting power of all
outstanding shares of such Parent or (B) if Holdings is not a Subsidiary of any Parent, shares of
voting Capital Stock having less than 35% of the total voting power of all outstanding shares of
voting Capital Stock of Holdings, and (y) any “person” or “group” (as such terms are used in
Sections 13(d) and 14(d) of the Exchange Act), other than one or more Permitted Investors, shall be
the “beneficial owner” of (A) so long as Holdings is a Subsidiary of any Parent (other than a
Parent that is a Subsidiary of another Parent), shares of voting Capital Stock having a greater
amount of the voting power of all outstanding shares of voting Capital Stock of such Parent than
such shares of which the Permitted Investors in the aggregate are the “beneficial owner” or (B) if
Holdings is not a Subsidiary of any Parent, shares of voting Capital Stock having a greater amount
of the voting power of all outstanding shares of the voting Capital Stock of Holdings than such
shares of which the Permitted Investors in the aggregate are the “beneficial owner”; (iii) the
board of directors of Holdings or any Parent shall cease to consist of a majority of Continuing
Directors; (iv) Holdings shall cease to hold and own beneficially, of record and directly, and
control 100% of each class of outstanding Capital Stock of the Borrower free and clear of all Liens
(except Liens created by the Guarantee and Collateral Agreement); or (v) a Specified Change of
Control shall occur and the Borrower delivers or is required to deliver a change of control notice
to the holders of the Senior Unsecured Notes as required by the Senior Unsecured Note Indenture; or

               (l) Holdings shall (i) conduct, transact or otherwise engage in, or commit to conduct,
transact or otherwise engage in, any business or operations other than those incidental to its
direct or indirect ownership of the Capital Stock of the Borrower and its Subsidiaries,
provided that Holdings may engage in those activities that are incidental to (A) the
maintenance of its corporate existence in compliance with applicable law, (B) legal, tax and
accounting matters in connection with any of the foregoing or following activities, (C) the
entering into, and performing its obligations under, this Agreement, the other Loan Documents and
the Management Agreement and Management Stock Agreements, in each case to which it is a party, (D)
the issuance, sale or repurchase of its Capital Stock to the extent permitted under this Agreement,
(E) dividends or distributions on its Capital Stock, (F) the filing of registration statements, and
compliance with applicable reporting and other obligations, under federal, state or other
securities laws, (G) the listing of its equity securities and compliance with applicable reporting
and other obligations in connection therewith, (H) the retention of (and the entry into, and
exercise of rights and performance of obligations in respect of, contracts and agreements with)
transfer agents, private placement agents, underwriters, counsel, accountants and other advisors
and consultants, (I) the performance of obligations under and compliance with its certificate of
incorporation and by-laws, or any applicable law, ordinance, regulation, rule, order, judgment,
decree or permit, including as a result of or in connection with the activities of its
Subsidiaries, (J) the incurrence and payment of its operating and business expenses and any taxes
for which it may be liable, (K) making loans to or other Investments in the Borrower or any
Wholly-Owned Subsidiary Guarantor as and to the extent not prohibited by this Agreement, or (ii)
incur, create, assume or suffer to exist any Indebtedness or other liabilities or financial
obligations, except (A) nonconsensual obligations imposed by operation of law, (B) pursuant to the
Loan Documents to which it is a party and (C) obligations with respect to its Capital Stock, or (D)
Indebtedness owed to the Borrower or any Wholly-Owned Subsidiary Guarantor as and to the extent not
prohibited by this Agreement and (E) other liabilities and obligations not constituting
Indebtedness permitted in clause (i) above; or

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then, and in any such event, (A) if such event is an Event of Default specified in clause (i) or
(ii) of paragraph (f) above with respect to the Borrower, automatically the Commitments shall
immediately
terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under
this Agreement and the other Loan Documents (including all amounts of L/C Obligations, whether or
not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents
required thereunder) shall immediately become due and payable, and (B) if such event is any other
Event of Default, either or both of the following actions may be taken: (i) with the consent of the
Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the
Administrative Agent shall, by notice to the Borrower declare the Revolving Commitments to be
terminated forthwith, whereupon the Revolving Commitments shall immediately terminate; and (ii)
with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the
Required Lenders, the Administrative Agent shall, by notice to the Borrower, declare the Loans
hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and the
other Loan Documents (including all amounts of L/C Obligations, whether or not the beneficiaries of
the then outstanding Letters of Credit shall have presented the documents required thereunder) to
be due and payable forthwith, whereupon the same shall immediately become due and payable. With
respect to all Letters of Credit with respect to which presentment for honor shall not have
occurred at the time of an acceleration pursuant to this paragraph, the Borrower shall at such time
deposit in a cash collateral account opened by the Administrative Agent an amount equal to the
aggregate then undrawn and unexpired amount of such Letters of Credit. Amounts held in such cash
collateral account shall be applied by the Administrative Agent to the payment of drafts drawn
under such Letters of Credit, and the unused portion thereof after all such Letters of Credit shall
have expired or been fully drawn upon, if any, shall be applied to repay any of the other Secured
Obligations pursuant to the requirements of the Collateral Agreement. After all such Letters of
Credit shall have expired or been fully drawn upon, all Reimbursement Obligations shall have been
satisfied and all other Secured Obligations shall have been paid in full, the balance, if any, in
such cash collateral account shall be returned to the Borrower (or such other Person as may be
lawfully entitled thereto). Except as expressly provided above in this Section 9, presentment,
demand, protest and all other notices of any kind are hereby expressly waived by the Borrower.

SECTION 10. THE AGENTS

          10.1. Appointment. Each Lender hereby irrevocably designates and appoints each Agent
as the agent of such Lender under this Agreement and the other Loan Documents, and each such Lender
irrevocably authorizes such Agent, in such capacity, to take such action on its behalf under the
provisions of this Agreement and the other Loan Documents and to exercise such powers and perform
such duties as are expressly delegated to such Agent by the terms of this Agreement and the other
Loan Documents, together with such other powers as are reasonably incidental thereto.
Notwithstanding any provision to the contrary elsewhere in this Agreement, no Agent shall 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 Loan Document or otherwise exist against
any Agent.

          10.2. Delegation of Duties. Each Agent may execute any of its duties under this
Agreement and the other Loan Documents by or through agents or attorneys-in-fact and shall be
entitled to advice of counsel concerning all matters pertaining to such duties. No Agent shall be
responsible for the negligence or misconduct of any agents or attorneys in-fact selected by it with
reasonable care.

          10.3. Exculpatory Provisions. Neither any Agent nor any of their respective officers,
directors, employees, agents, attorneys-in-fact or affiliates shall be (i) 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 Loan

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Document (except to the extent that any of the foregoing are found by a
final and nonappealable decision of a court of competent jurisdiction to have resulted from its or
such Person’s own gross negligence or
willful misconduct) or (ii) responsible in any manner to any of the Lenders for any recitals,
statements, representations or warranties made by any Loan Party or any officer thereof contained
in this Agreement or any other Loan Document or in any certificate, report, statement or other
document referred to or provided for in, or received by the Agents under or in connection with,
this Agreement or any other Loan Document or for the value, validity, effectiveness, genuineness,
enforceability or sufficiency of this Agreement or any other Loan Document or for any failure of
any Loan Party a party thereto to perform its obligations hereunder or thereunder. The Agents 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
Loan Document, or to inspect the properties, books or records of any Loan Party.

          10.4. Reliance by Agents. Each Agent shall be entitled to rely, and shall be fully
protected in relying, upon any instrument, 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
Holdings or the Borrower), independent accountants and other experts selected by such Agent. The
Administrative Agent may deem and treat the payee of any Note 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. Each Agent shall be fully justified in failing or refusing to take any
action under this Agreement or any other Loan Document unless it shall first receive such advice or
concurrence of the Required Lenders (or, if so specified by this Agreement, all 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 Agents shall in all cases be fully protected against any action or claim by
any Lender or affiliate thereof, in acting, or in refraining from acting, under this Agreement and
the other Loan Documents in accordance with a request of the Required Lenders (or, if so specified
by this Agreement, all 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.

          10.5. Notice of Default. No Agent shall be deemed to have knowledge or notice of the
occurrence of any Default or Event of Default hereunder unless such Agent has received notice from
a Lender, Holdings 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 (or, if so specified by this
Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement);
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.

          10.6. Non-Reliance on Agents and Other Lenders. Each Lender expressly acknowledges
that neither the Agents nor any of their respective officers, directors, employees, agents,
attorneys-in-fact or affiliates have made any representations or warranties to it and that no act
by any Agent hereafter taken, including any review of the affairs of a Loan Party or any affiliate
of a Loan Party, shall be deemed to constitute any representation or warranty by any Agent to any
Lender. Each Lender represents to the Agents that it has, independently and without reliance upon
any Agent or any other Lender, and based on such documents and information as it has deemed
appropriate, made its own

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appraisal of and investigation into the business, operations, property,
financial and other condition and creditworthiness of the Loan Parties and their affiliates 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 any 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 Loan
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 Loan
Parties and their affiliates. 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, operations, property, condition (financial or otherwise),
prospects or creditworthiness of any Loan Party or any affiliate of a Loan Party that may come into
the possession of the Administrative Agent or any of its officers, directors, employees, agents,
attorneys-in-fact or affiliates.

          10.7. Indemnification. The Lenders agree to indemnify each Agent in its capacity as
such (to the extent not reimbursed by Holdings or the Borrower and without limiting the obligation
of Holdings or the Borrower to do so), ratably according to their respective Aggregate Exposure
Percentages in effect on the date on which indemnification is sought under this Section (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 such Aggregate Exposure Percentages
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 (whether before or after the payment of the Loans) be imposed on,
incurred by or asserted against such Agent in any way relating to or arising out of, the
Commitments, this Agreement, any of the other Loan 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 such 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 that are found by a
final and nonappealable decision of a court of competent jurisdiction to have resulted from such
Agent’s gross negligence or willful misconduct. The agreements in this Section 10.7 shall survive
the payment of the Loans and all other amounts payable hereunder.

          10.8. Agent in Its Individual Capacity. Each Agent and its affiliates may make loans
to, accept deposits from and generally engage in any kind of business with any Loan Party as though
such Agent were not an Agent. With respect to its Loans made or renewed by it and with respect to
any Letter of Credit issued or participated in by it, each Agent shall have the same rights and
powers under this Agreement and the other Loan Documents as any Lender and may exercise the same as
though it were not an Agent, and the terms “Lender” and “Lenders” shall include each Agent in its
individual capacity.

          10.9. Successor Administrative Agent. Subject to the appointment and acceptance of a
successor Administrative Agent as provided below, the Administrative Agent may resign as
Administrative Agent. If the Administrative Agent shall have given notice of its resignation as
Administrative Agent under this Agreement and the other Loan Documents, then the Required Lenders
shall appoint from among the Lenders a successor agent for the Lenders, which successor agent shall
(unless an Event of Default under Section 9(a) or Section 9(f) with respect to the Borrower shall
have occurred and be continuing) be subject to approval by the Borrower (which approval shall not
be unreasonably withheld or delayed), 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,

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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 holders of
the Loans. If no successor agent has accepted appointment as Administrative Agent by the date
that is 30 days following a retiring Administrative Agent’s notice of resignation, then the
resigning Administrative Agent may, on behalf of the Lenders and the L/C Lender, appoint a
successor Administrative Agent which shall be a bank with an office in New York, New York, or an
Affiliate of any such bank. The Syndication Agent may, at any time, by notice to the Lenders and
the Administrative Agent, resign as Syndication Agent hereunder, whereupon the duties, rights,
obligations and responsibilities of the Syndication Agent hereunder shall automatically be assumed
by, and inure to the benefit of, the Administrative Agent, without any further act by the
Syndication Agent, the Administrative Agent or any Lender. After any retiring Administrative
Agent’s resignation as Administrative Agent, the provisions of this Section 10 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 Loan Documents.

          10.10. Agents Generally. Except as expressly set forth herein, no Agent shall have
any duties or responsibilities hereunder in its capacity as such.

          10.11. Agents Other than the Administrative Agent. The Lead Arrangers and the
Syndication Agent, in their capacity as such, shall have no duties or responsibilities, and shall
incur no liability, under this Agreement or any other Loan Document.

          10.12. 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. If any Governmental Authority 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 or was not properly executed or because such
Lender failed to notify the Administrative Agent of a change in circumstance 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 any penalties or interest and together with all
expenses (including legal expenses, allocated internal costs and out-of-pocket expenses) incurred.

SECTION 11. MISCELLANEOUS

          11.1. Amendments and Waivers. Neither this Agreement, any other Loan Document, nor
any terms hereof or thereof may be amended, supplemented or modified except in accordance with the
provisions of this Section 11.1. The Required Lenders and each Loan Party to the relevant Loan
Document may, or, with the written consent of the Required Lenders, the Administrative Agent and
each Loan Party to the relevant Loan Document may, from time to time, (a) enter into written
amendments, supplements or modifications hereto and to the other Loan Documents for the purpose of
adding any provisions to this Agreement or the other Loan Documents or changing in any manner the
rights of the Lenders or of the Loan 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 Loan Documents or any
Default or Event of Default and its consequences; provided, however, that no such
waiver and no such amendment, supplement or modification shall (i) forgive the principal amount or
extend the final scheduled date of maturity of any Loan, reduce the stated rate of any interest or
fee payable hereunder (except (x) in connection with the waiver of applicability of any
post-default increase in interest rates, which waiver shall be effective with the consent of the
Majority Facility Lenders of each adversely affected Facility and (y) that any

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amendment or
modification of defined terms used in the financial covenants in this Agreement shall not
constitute a reduction in the rate of interest or fees for purposes of this clause (i)) or extend
the scheduled date of any payment thereof, or increase the amount or extend the expiration date of
any Lender’s
Commitment, in each case without the written consent of each Lender directly affected thereby;
(ii) eliminate or reduce the voting rights of any Lender under this Section 11.1 without the
written consent of such Lender; (iii) reduce any percentage specified in the definition of Required
Lenders, consent to the assignment or transfer by the Borrower of any of its rights and obligations
under this Agreement and the other Loan Documents or, except as set forth in Section 11.14, release
all or substantially all of the Collateral or release all or substantially all of the Subsidiary
Guarantors from their obligations under the Guarantee and Collateral Agreement, in each case
without the written consent of all Lenders; (iv) extend the scheduled date or reduce the amount of
any amortization payment in respect of any Term Loan, in each case, without the written consent of
Lenders holding 80% or more in principal amount of the aggregate outstanding Term Loans (or, prior
to the funding of Term Loans, Term Commitments) and Revolving Commitments; (v) amend, modify or
waive any condition precedent to any extension of credit under the Revolving Facility set forth in
Section 6.2 (including in connection with any waiver of any Default) without the written consent of
the Majority Facility Lenders under the Revolving Facility; (vi) amend, modify or waive any
provision of Section 4.8 without the written consent of the Majority Facility Lenders under each
Facility affected thereby, except that the additional written consent of each Lender directly and
adversely affected thereby shall be required in the case of Section 4.8(a), 4.8(c) and the first
sentence of Section 4.8(b); (vii) reduce the percentage specified in the definition of Majority
Facility Lenders with respect to any Facility without the written consent of all Lenders under such
Facility; (viii) amend, modify or waive any provision of Section 10 without the written consent of
each Agent adversely affected thereby; (ix) amend, modify or waive any provision of Section 3.3 or
3.4 without the written consent of the Swingline Lender; or (x) amend, modify or waive any
provision of Sections 3.7 to 3.14 without the written consent of the L/C Lender. Any such waiver
and any such amendment, supplement or modification shall apply equally to each of the Lenders and
shall be binding upon the Loan Parties, the Lenders, the Agents and all future holders of the
Loans. In the case of any waiver, the Loan Parties, the Lenders and the Agents shall be restored
to their former position and rights hereunder and under the other Loan Documents, and any Default
or Event of Default waived shall be deemed to be cured and not continuing; but no such waiver shall
extend to any subsequent or other Default or Event of Default, or impair any right consequent
thereon.

          Notwithstanding the foregoing, this Agreement may be amended (or amended and restated) with
the written consent of the Required Lenders, the Administrative Agent and the Borrower (a) to add
one or more additional credit facilities to this Agreement and to permit the extensions of credit
from time to time outstanding thereunder and the accrued interest and fees in respect thereof
(collectively, the “Additional Extensions of Credit”) to share ratably in the benefits of
this Agreement and the other Loan Documents with the Term Loans and Revolving Extensions of Credit
and the accrued interest and fees in respect thereof and (b) to include appropriately the Lenders
holding such credit facilities in any determination of the Required Lenders and Majority Facility
Lenders.

          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 of all outstanding Term Loans
(“Refinanced Term Loans”) with a replacement term loan tranche hereunder (“Replacement
Term Loans”), but only if (a) the aggregate principal amount of the Replacement Term Loans does
not exceed the aggregate principal amount of the Refinanced Term Loans, (b) the Applicable Margin
for the Replacement Term Loans is not higher than the Applicable Margin for the Refinanced Term
Loans, (c) the weighted average life to maturity of the Replacement Term Loans is not shorter than
the weighted average life to maturity of such Refinanced Term Loans at the time of the refinancing
and (d) all other

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terms applicable to such Replacement Term Loans are substantially identical to,
or 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 in effect immediately prior to such
refinancing.

          11.2. Notices(a) . (a) All notices, requests and demands to or upon the respective
parties hereto to be effective shall be in writing (including by telecopy or electronic pdf), and,
unless otherwise expressly provided herein, shall be deemed to have been duly given or made when
delivered, or three Business 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 Holdings, the Borrower
and the Agents, and as set forth in an administrative questionnaire delivered to the Administrative
Agent in the case of the Lenders, or to such other address as may be hereafter notified by the
respective parties hereto:

	 	 	 	 	 
	 

	 	Holdings:
	 	Axle Holdings, Inc.
	 

	 	 	 	c/o Kelso & Company
	 

	 	 	 	320 Park Avenue, 24th Floor
	 

	 	 	 	New York, NY 10022
	 

	 	 	 	Attention: James Conners
	 

	 	 	 	Telecopy: (212) 223-2379
	 

	 	 	 	Telephone: (212) 751-3939
	 
	 	 	 	 
	 

	 	The Borrower:
	 	Insurance Auto Auctions, Inc.
	 

	 	 	 	Two Westbrook Corporate Center, Suite 500
	 

	 	 	 	Westchester, IL 60154
	 

	 	 	 	Attention: Scott Pettit
	 

	 	 	 	Telecopy: (708) 492-7078
	 

	 	 	 	Telephone: (708) 492-7999
	 
	 	 	 	 
	 

	 	 	 	with a copy to: Sidney L. Kerley
	 
	 	 	 	 
	 

	 	The Administrative Agent or
	 	Bear Stearns Corporate Lending Inc.
	 

	 	the L/C Lender:
	 	383 Madison Avenue
	 

	 	 	 	New York, NY 10179
	 

	 	 	 	Attention: Stephen G. O’Keefe
	 

	 	 	 	Telecopy: (212) 272-9184
	 

	 	 	 	Telephone: (212) 272-9430
	 

	 	 	 	Email: sokeefe@bear.com

               (b) No notice, request or demand to or upon any Agent, the L/C Lender, the Lenders, Holdings
or the Borrower shall be effective until received. Holdings and the Borrower shall be conclusively
deemed to have received any notice, request or demand if such notice, request or demand is sent by
courier service and delivery thereof is confirmed by the courier, if it is sent by fax or
electronic pdf and receipt thereof is confirmed orally, if it is sent by certified mail or if it is
served by any manner of service of process permitted by law. Notices and other communications to
the Lenders hereunder may be delivered or furnished by electronic communications pursuant to
procedures approved by the Administrative Agent. Approval of such procedures may be limited to
particular notices or communications;

               (c) (i) Notices and other communications to the Lenders and the L/C Lender hereunder may be
delivered or furnished by electronic communication (including e mail and Internet or

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intranet
websites) pursuant to procedures approved by the Administrative Agent, provided that the
foregoing shall not apply to notices to any Lender or the L/C Lender pursuant to Sections 2 and 3
if such
Lender or the L/C Lender, as applicable, has notified the Administrative Agent that it is
incapable of receiving notices under such Article by electronic communication. The Administrative
Agent or the Borrower may, in their discretion, agree to accept notices and other communications to
each of them hereunder by electronic communications pursuant to procedures approved by it, provided
that approval of such procedures may be limited to particular notices or communications.

               (ii) Unless the Administrative Agent otherwise prescribes, (a) 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 (b) 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 (a) of
notification that such notice or communication is available and identifying the website
address therefore.

          11.3. No Waiver; Cumulative Remedies. No failure to exercise and no delay in
exercising, on the part of any Agent or any Lender, any right, remedy, power or privilege hereunder
or under the other Loan 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, 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.

          11.4. Survival of Representations and Warranties. All representations and warranties
made hereunder, in the other Loan 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 and other extensions of credit hereunder.

          11.5. Payment of Expenses and Taxes; Indemnity. The Borrower agrees (a) to pay or
reimburse each Agent for all its reasonable out-of-pocket costs and expenses incurred in connection
with the development, preparation and execution of, and any amendment, supplement or modification
to, this Agreement and the other Loan 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 and disbursements of counsel to such Agent and
filing and recording fees and expenses, with statements with respect to the foregoing to be
submitted to the Borrower prior to the Original Closing Date (in the case of amounts to be paid on
the Original Closing Date) and from time to time thereafter on a quarterly basis or such other
periodic basis as such Agent shall deem appropriate, (b) to pay or reimburse each Lender and Agent
for all its costs and expenses incurred in connection with the enforcement or preservation of any
rights under this Agreement, the other Loan Documents and any such other documents, including the
fees and disbursements of counsel (including the allocated fees and expenses of in-house counsel)
to each Lender and of counsel to such Agent, (c) to pay, indemnify, and hold each Lender and Agent
harmless from, any and all recording and filing fees and any and all liabilities with respect to,
or resulting from any delay in paying Other 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 Loan Documents and any

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such other
documents, and (d) to pay, indemnify, and hold each Lender and Agent and each of their respective
officers, directors, employees, attorneys, affiliates, agents and advisors (each, including each
Lender and Agent, an “Indemnitee”) harmless 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 with respect to the execution, delivery,
enforcement, performance and administration of this Agreement, the other Loan Documents and any
such other documents, including any of the foregoing relating to the use of proceeds of the Loans
or the violation of, noncompliance with or liability under, any Environmental Law applicable to the
operations of any Group Member or any of the Properties or the unauthorized use by Persons of
information or other materials sent through electronic, telecommunications or other information
transmission systems that are intercepted by such Persons and the reasonable fees and expenses of
legal counsel in connection with claims, actions or proceedings by any Indemnitee against any Loan
Party under any Loan Document (all the foregoing in this clause (d), collectively, the
“Indemnified Liabilities”), provided, that the Borrower shall have no obligation hereunder
to any Indemnitee with respect to Indemnified Liabilities to the extent such Indemnified
Liabilities are found by a final and nonappealable decision of a court of competent jurisdiction to
have resulted from the gross negligence or willful misconduct of such Indemnitee or any of its
Related Persons. Without limiting the foregoing, and to the extent permitted by applicable law,
the Borrower agrees not to assert and to cause its Subsidiaries not to assert, and hereby waives
and agrees to cause its Subsidiaries to waive, all rights for contribution or any other rights of
recovery with respect to all claims, demands, penalties, fines, liabilities, settlements, damages,
costs and expenses of whatever kind or nature, under or related to Environmental Laws, that any of
them might have by statute or otherwise against any Indemnitee. All amounts due under this Section
11.5 shall be payable not later than 10 days after written demand therefor. Statements payable by
the Borrower pursuant to this Section 11.5 shall be submitted pursuant to the notice information
for the Borrower set forth in Section 11.2, or to such other Person or address as may be hereafter
designated by the Borrower in a written notice to the Administrative Agent. The agreements in this
Section 11.5 shall survive repayment of the Loans and all other amounts payable hereunder.

          11.6. 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 L/C Lender),
except that (i) Holdings and the Borrower may not assign or otherwise transfer any of their
respective rights or obligations hereunder without the prior written consent of each Lender (and
any attempted assignment or transfer by Holdings or the Borrower without such consent shall be null
and void), (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder
except in accordance with this Section 11.6 and (iii) the Borrower and its Subsidiaries shall not
be entitled to rely on or enforce any of the provisions of this Agreement until the conditions set
forth in Section 6.1 are satisfied and the Merger and first funding of Loans have been completed.

               (b) (i) Subject to the conditions set forth in paragraph (c) below, any Lender may assign to
one or more assignees (each, an “Assignee”) all or a portion of its rights and obligations
under this Agreement (including all or a portion of its Commitments and the Loans at the time owing
to it) with the prior written consent (such consent not to be unreasonably withheld) of:

          (A) the Borrower, provided that no consent of the Borrower shall be required
for an assignment to a Lender, an affiliate of a Lender, an Approved Fund or, if an Event of
Default has occurred and is continuing, any other Person provided, further, that no consent
of the Borrower shall be required for an assignment by a Conduit Lender to its designated
Lender, a conduit administered or managed by such Conduit Lender’s designated Lender or to
such Conduit Lender’s liquidity providers;

81

 

          (B) the Administrative Agent, provided that no consent of the Administrative
Agent shall be required for an assignment to an Assignee that is a Lender, an affiliate of a
Lender or an Approved Fund immediately prior to giving effect to such assignment, except in
the case of an assignment of a Revolving Commitment to an Assignee that does not already
have a Revolving Commitment provided, further, that no consent of the
Administrative Agent shall be required for an assignment by a Conduit Lender to its
designated Lender, a conduit administered or managed by such Conduit Lender’s designated
Lender or to such Conduit Lender’s liquidity providers; and

          (C) the L/C Lender and the Swingline Lender, in case of an assignment of a Revolving
Commitment.

     (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 under any Facility, the amount of the Commitments or Loans of the
assigning Lender subject to each such assignment (determined as of the date the Assignment
and Assumption with respect to such assignment is delivered to the Administrative Agent)
shall not be less than $2,500,000 (or, in the case of Term Loans, $1,000,000) unless each
of the Borrower and the Administrative Agent otherwise consent, provided that (1) no
such consent of the Borrower shall be required if an Event of Default has occurred and is
continuing and (2) such amounts shall be aggregated in respect of each Lender and its
affiliates or Approved Funds, if any;

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

          (C) the Assignee, if it shall not be a Lender, shall deliver to the Administrative
Agent an administrative questionnaire; and

          (D) in the case of an assignment by a Conduit Lender to an Assignee that is not its
designated Lender, another Conduit Lender administered or managed by such Conduit Lender’s
designated Lender or such Conduit Lender’s liquidity providers (each such Assignee, a
“Third Party Assignee”), such Conduit Lender’s designated Lender shall concurrently
assign to the such Third Party Assignee or, if such Third Party Assignee is a conduit not
administered by such designated Lender, to an Assignee designated by such Third Party
Assignee an amount of its Commitment at least equal to the amount of the Loans assigned to
such Third Party Assignee by such Conduit Lender; provided that if in connection with such
assignment such Conduit Lender notifies the Borrower or the Administrative Agent that such
Conduit Lender shall not make any additional Loans under this Agreement, such Conduit
Lender’s designated Lender shall assign its entire Commitment to such Third Party Assignee
or, if such Third Party Assignee is a conduit not administered by such designated Lender, to
an Assignee designated by such Third Party Assignee.

     (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) below,
from and after the effective date specified in each Assignment and Assumption the Assignee
thereunder shall be a party hereto and, to the extent of the interest assigned by such
Assignment and Assumption, have the rights and obligations of a Lender under this Agreement,
and the assigning Lender thereunder shall, to the extent of the interest assigned by such
Assignment and

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Assumption, be released from its obligations under this Agreement (and, in the case of
an Assignment and Assumption covering all of the assigning Lender’s rights and obligations
under this Agreement, such Lender shall cease to be a party hereto but shall continue to be
entitled to the benefits of Sections 4.9, 4.10, 4.11 and 11.5). Any assignment or transfer
by a Lender of rights or obligations under this Agreement that does not comply with this
Section 10.7 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, and subject to the
limitations of Section 11.6 (c).

     (iv) The Administrative Agent, acting for this purpose as an agent of the Borrower,
shall maintain at one of its offices a copy of each Assignment and Assumption delivered to
it and a register for the recordation of the names and addresses of the Lenders, and the
Commitments of, and principal amount of the Loans and L/C Obligations owing to, each Lender
pursuant to the terms hereof from time to time (the “Register”). The entries in the
Register shall be conclusive, and the Borrower, the Administrative Agent, the L/C Lender and
the Lenders may treat each Person whose name is recorded in the Register pursuant to the
terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding
notice to the contrary. The Register shall be available for inspection by the Borrower, the
L/C Lender 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 Assumption 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) of this Section, the Administrative Agent shall accept
such Assignment and Assumption and record the information contained therein in the Register.
No assignment shall be effective for purposes of this Agreement unless it has been recorded
in the Register as provided in this paragraph.

               (c) (i) Any Lender may, without the consent of the Borrower or the Administrative Agent, sell
participations to one or more banks or other entities (a “Participant”) in all or a portion
of such Lender’s rights and obligations under this Agreement (including all or a portion of its
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 L/C Lender 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
pursuant to which a Lender sells such a participation shall provide that such Lender shall retain
the sole right to enforce this Agreement and to approve any amendment, modification or waiver of
any provision of this Agreement; provided that such agreement may provide that such Lender
will not, without the consent of the Participant, agree to any amendment, modification or waiver
that (1) requires the consent of each Lender directly affected thereby pursuant to the proviso to
the second sentence of Section 11.1 and (2) directly 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 4.9, 4.10 or 4.11 to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to paragraph (b) of this Section 11.6. To the extent
permitted by law, each Participant also shall be entitled to the benefits of Section 11.7(b) as
though it were a Lender, provided such Participant shall be subject to Section 11.7(a) as though it
were a Lender.

     (ii) A Participant shall not be entitled to receive any greater payment under Section
4.9 or 4.10 than the applicable Lender would have been entitled to receive with respect to
the participation sold to such Participant. Any Participant that is a Non-U.S. Lender shall
not be entitled to the benefits of Section 4.10 unless such Participant complies with
Section 4.10(d).

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               (d) Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement to secure obligations of such Lender, including any pledge or
assignment to secure obligations to a Federal Reserve Bank, 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.

               (e) The Borrower, upon receipt of written notice from the relevant Lender, agrees to issue
Notes to any Lender requiring Notes to facilitate transactions of the type described in paragraph
(d) above.

               (f) Notwithstanding the foregoing, any Conduit Lender may assign any or all of the Loans it
may have funded hereunder to its designating Lender without the consent of the Borrower or the
Administrative Agent and without regard to the limitations set forth in Section 11.6(b). Each of
Holdings, the Borrower, each Lender and the Administrative Agent hereby confirms that it will not
institute against a Conduit Lender or join any other Person in instituting against a Conduit Lender
any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding under any state
bankruptcy or similar law, for one year and one day after the payment in full of the latest
maturing commercial paper note issued by such Conduit Lender; provided, however,
that each Lender designating any Conduit Lender hereby agrees to indemnify, save and hold harmless
each other party hereto for any loss, cost, damage or expense arising out of its inability to
institute such a proceeding against such Conduit Lender during such period of forbearance.

          11.7. Adjustments; Set-off. (a) Except to the extent that this Agreement
expressly provides for payments to be allocated to a particular Lender or to the Lenders under a
particular Facility, if any Lender (a “Benefited Lender”) shall, at any time after the
Loans and other amounts payable hereunder shall immediately become due and payable pursuant to
Section 9, receive any payment of all or part of the Obligations owing to it, 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 9(f), or otherwise), in a greater proportion
than any such payment to or collateral received by any other Lender, if any, in respect of the
Obligations owing to such other Lender, such Benefited Lender shall purchase for cash from the
other Lenders a participating interest in such portion of the Obligations owing to each such other
Lender, or shall provide such other Lenders with the benefits of any such collateral, as shall be
necessary to cause such Benefited Lender to share the excess payment or benefits of such collateral
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) In addition to any rights and remedies of the Lenders provided by law, each Lender shall
have the right, without prior notice to Holdings or the Borrower, any such notice being expressly
waived by Holdings and the Borrower to the extent permitted by applicable law, upon any amount
becoming due and payable by Holdings or 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 Holdings or the Borrower, as the case may be.
Each Lender agrees promptly to notify the Borrower and the Administrative Agent after any such
setoff and application made by such Lender, provided that the failure to give such notice
shall not affect the validity of such setoff and application.

84

 

          11.8. Counterparts. This Agreement may be executed by one or more of the parties to
this Agreement on any number of separate counterparts, and all of said counterparts taken together
shall be deemed to constitute one and the same instrument. Delivery of an executed signature page
of this Agreement by facsimile transmission shall be effective as delivery of a manually executed
counterpart hereof. A set of the copies of this Agreement signed by all the parties shall be lodged
with the Borrower and the Administrative Agent.

          11.9. 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.

          11.10. Integration. This Agreement and the other Loan Documents represent the entire
agreement of Holdings, the Borrower, the Agents and the Lenders with respect to the subject matter
hereof and thereof. This Agreement supersedes all prior commitments and undertakings of any or all
of the Agents and Lenders relating to the financing contemplated hereby. There are no promises,
undertakings, representations or warranties by any Agent or any Lender relative to subject matter
hereof not expressly set forth or referred to herein or in the other Loan Documents.

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

          11.12. Submission To Jurisdiction; Waivers. Each of Holdings, the Borrower, the
Agents and the Lenders hereby irrevocably and unconditionally:

               (a) submits for itself and its property in any legal action or proceeding relating to this
Agreement and the other Loan 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 for the Southern District of New York, and
appellate courts from any thereof;

               (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 Holdings or the Borrower, as the case may be at its address set forth in Section 11.2
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 any special, exemplary,
punitive or consequential damages.

85

 

          11.13. Acknowledgments. Each of Holdings and the Borrower hereby acknowledges that:

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

               (b) no Agent or 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 Loan Documents, and the
relationship between the Agents and Lenders, on one hand, and Holdings and 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 Loan Documents or otherwise exists by
virtue of the transactions contemplated hereby among the Lenders or among Holdings, the Borrower
and the Lenders.

          11.14. Releases of Guarantees and Liens. (a) Notwithstanding anything to the
contrary contained herein or in any other Loan Document, the Administrative Agent is hereby
irrevocably authorized by each Lender (without requirement of notice to or consent of any Lender
except as expressly required by Section 11.1) to take any action requested by the Borrower having
the effect of releasing any Collateral or guarantee obligations (i) to the extent necessary to
permit consummation of any transaction not prohibited by any Loan Document or that has been
consented to in accordance with Section 11.1 or (ii) under the circumstances described in paragraph
(b) below.

               (b) At such time as the Loans, the Reimbursement Obligations and the other obligations under
the Loan Documents (other than contingent surviving indemnity obligations in respect of which no
claim or demand has been made and obligations under or in respect of Hedge Agreements or Specified
Cash Management Arrangements) shall have been paid in full, the Commitments have been terminated
and no Letters of Credit shall be outstanding, the Collateral shall be released from the Liens
created by the Security Documents, and the Security Documents and all obligations (other than those
expressly stated to survive such termination) of the Administrative Agent and each Loan Party under
the Security Documents shall terminate, all without delivery of any instrument or performance of
any act by any Person. Additionally, the Administrative Agent shall deliver such other
documentation reasonably requested by the Borrower to evidence the termination of this Agreement
and the other Loan Documents and/or the termination of the Liens on the Collateral, in favor of the
Administrative Agent for the benefit of the Secured Parties, all in form reasonably satisfactory to
the Administrative Agent and the Borrower. Any such documentation shall be made without recourse,
representation or warranty. The Borrower shall pay all costs and expenses (including, but not
limited to, reasonable attorney’s fees), that the Administrative Agent incurs in preparing and
delivering the foregoing documents (or reviewing forms of such documents prepared by the Borrower
or its counsel).

          11.15. Confidentiality. Each Agent and each Lender agrees to keep confidential all
non-public information provided to it by any Loan Party pursuant to or in connection with this
Agreement that is designated by such Loan Party as confidential; provided that nothing herein shall
prevent any Agent or any Lender from disclosing any such information (a) to any Agent, any other
Lender or any Lender Affiliate, (b) to any actual or prospective Transferee or any direct or
indirect counterparty to any Hedge Agreement (or any professional advisor to such counterparty), if
such person is required to maintain confidentiality, (c) to its employees, directors, agents,
attorneys, accountants and other professional advisors or those of any of its affiliates if such
person is required to maintain confidentiality, (d) upon the request or demand of any Governmental
Authority (e) in response to any order of any court or other Governmental Authority, or as may
otherwise be required pursuant to any Requirement of Law,

86

 

or if requested or required to do so in connection with any litigation or similar proceeding;
provided, that such Agent or Lender, unless prohibited by any Requirement of Law, shall use
reasonable efforts to notify the Borrower in advance of any disclosure pursuant to this clause (e)
above but only to the extent reasonably practicable under the circumstances and on the
understanding that no Agent or Lender shall incur any liability for failure to give such notice,
(f) that has been publicly disclosed, (g) to the National Association of Insurance Commissioners or
any similar organization or any nationally recognized rating agency that requires access to
information about a Lender’s investment portfolio in connection with ratings issued with respect to
such Lender or (h) in connection with the exercise of any remedy hereunder or under any other Loan
Document.

          11.16. WAIVERS OF JURY TRIAL. HOLDINGS, THE BORROWER, THE AGENTS AND THE LENDERS
HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING
RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

          11.17. Delivery of Addenda. Each initial Lender not a signatory party hereto may
become a party to this Agreement by delivering to the Administrative Agent an Addendum duly
executed by such Lender.

          11.18. USA PATRIOT Act. Each Lender hereby notifies the Borrower that pursuant to the
requirements of the USA PATRIOT Act (Title III of Publ. 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.

          11.19. Restatement. (a) On the First Amendment Effective Date, the Original
Credit Agreement shall be amended and restated in its entirety by this Agreement and the Original
Credit Agreement shall thereafter be of no further force and effect except to evidence (i) the
incurrence by the Borrower of the “Obligations” under and as defined in the Original Credit
Agreement (whether or not such “Obligations” are contingent as of the First Amendment Effective
Date), (ii) the representations and warranties made by Holdings and the Borrower prior to the First
Amendment Effective Date and (iii) any action or omission performed or required to be performed
pursuant to the Original Credit Agreement prior to the First Amendment Effective Date (including
any failure, prior to the First Amendment Effective Date, to comply with the covenants contained in
such Original Credit Agreement). This Agreement is not in any way intended to constitute a
novation of the obligations and liabilities existing under the Original Credit Agreement or
evidence payment of all or any portion of such obligations and liabilities. Notwithstanding
anything herein to the contrary, all interest accrued for any Loan prior to the effectiveness of
the First Amendment shall accrue at the applicable rate per annum set forth in the Original Credit
Agreement.

               (b) The terms and conditions of this Agreement and the Agents’ and the Lenders’ rights and
remedies under this Agreement and the other Loan Documents shall apply to all of the Obligations
incurred under the Original Credit Agreement and continuing hereunder.

               (c) Holdings and the Borrower each reaffirm the Liens granted pursuant to the Loan Documents
to the Administrative Agent for the benefit of the Lenders, which Liens shall continue in full
force and effect during the term of this Agreement and any renewals thereof and shall continue to
secure the Obligations.

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               (d) On and after the First Amendment Effective Date, (i) all references to the Original Credit
Agreement in the Loan Documents (other than this Agreement) shall be deemed to refer to the
Original Credit Agreement, as amended and restated hereby, (ii) all references to any section (or
subsection) of the Original Credit Agreement in any Loan Document (but not herein) shall be amended
to become, mutatis mutandis, references to the corresponding provisions of this Agreement and (iii)
except as the context otherwise provides, on or after the First Amendment Effective Date, all
references to this Agreement herein (including for purposes of indemnification and reimbursement of
fees) shall be deemed to be references to the Original Credit Agreement, as amended and restated
hereby.

               (e) This amendment and restatement is limited as written and is not a consent to any other
amendment, restatement or waiver or other modification, whether or not similar and, except as
expressly provided herein or in any other Loan Document, all terms and conditions of the Loan
Documents remain in full force and effect unless otherwise specifically amended hereby or by any
other Loan Document.

               (f) Each Lender hereby further authorizes each of the Agents, as applicable, on behalf of and
for the benefit of Lenders, to be the agent for and representative of Lenders with respect to the
Guarantors, the Collateral and the Security Documents and to execute any amendments, documents or
instruments necessary to effect the amendments contemplated by this Agreement.

[Remainder of Page Intentionally Left Blank]

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

	 	 	 	 	 
	 	AXLE HOLDINGS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	AXLE MERGER SUB, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

S-1

 

	 	 	 	 	 

	 	 	 	 	 
	 	BEAR, STEARNS & CO. INC.

as Joint Lead Arranger and Joint Bookrunner

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEUTSCHE BANK SECURITIES INC.,

as Joint Lead Arranger, Joint Bookrunner and

Syndication Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BEAR STEARNS CORPORATE LENDING INC.,

as Administrative Agent, L/C Lender and Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,

as Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

S-2

 

	 	 	 	 	 

	 	 	 	 	 
	 	GMAC COMMERCIAL FINANCE LLC,

as Co-Documentation Agent and Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ING CAPITAL LLC,

as Co-Documentation Agent and Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MERRILL LYNCH CAPITAL,

a division of Merrill Lynch Business Financial Services Inc.,

as Co-Documentation Agent and Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

S-3

 

	 	 	 	 	 

Annex A

PRICING GRIDS

The Applicable Margins and Commitment Fee Rate shall be adjusted on a quarterly basis after the
completion of the first full fiscal quarter of the Borrower following the Original Closing Date,
based on the Consolidated Leverage Ratio determined as of the last day of the most recent fiscal
quarter for which financial statements have been delivered, with each such adjustment to become
effective on the date (the “Adjustment Date”) that is three Business Days after the date on
which the relevant financial statements are delivered to the Lenders pursuant to Section 7.1 (it
being understood that the first Adjustment Date after the First Amendment Effective Date shall be
based on the financial statements delivered for the fiscal quarter ended in June 2006) and to
remain in effect until the next adjustment is effected.

The Applicable Margins and Commitment Fee Rate effective on each Adjustment Date shall be
determined in accordance with the pricing grids set forth below:

Revolving Loans, Swingline Loans (Base Rate Only) and Commitment Fee Rate

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Applicable	 	Applicable	 	 
	 	 	 	 	Margin	 	Margin	 	 
	Pricing	 	 	 	for Eurodollar	 	for Base Rate	 	Commitment
	Level	 	Consolidated Leverage Ratio	 	Loans	 	Loans	 	Fee Rate
	I

	 	33.75 to 1.00
	 	 	2.75	%	 	 	1.75	%	 	 	0.50	%
	II

	 	<3.75 to 1.00 but 33.00 to 1.00
	 	 	2.50	%	 	 	1.50	%	 	 	0.50	%
	II

	 	<3.00 to 1.00
	 	 	2.25	%	 	 	1.25	%	 	 	0.50	%

Term Loans

	 	 	 	 	 	 	 	 	 	 	 
	Pricing	 	Consolidated	 	Applicable Margin	 	Applicable Margin
	Level	 	Leverage Ratio	 	for Eurodollar Loans	 	for Base Rate Loans
	I

	 	>3.75 to 1.00
	 	 	2.50	%	 	 	1.50	%
	II

	 	£3.75 to 1.00
	 	 	2.25	%	 	 	1.25	%

All rates in each pricing grid are per annum rates.

If any financial statements referred to above are not delivered within the time periods specified
in Section 7.1, then until the date that is three Business Days after the date on which such
financial statements are delivered the highest rate set forth in each column of each pricing grid
shall apply. At all times after maturity or acceleration of the maturity of the Loans or the
delivery of notice to the Borrower by any Agent or the Required Lenders that an Event of Default
has occurred and is continuing or occurrence of any Event of Default specified in Section 9(f)
(until such time, if any, as such Event of Default may be cured or waived), the highest rate set
forth in each column of each pricing grid shall apply.

S-4exv10w24

 

EXHIBIT 10.24

     ASSUMPTION AGREEMENT,
dated as of June 29, 2006, made by AUTO DISPOSAL SYSTEMS, INC., an
Ohio corporation (“ADS”), ADS ASHLAND, LLC, an Ohio limited liability company (“ADS
Ashland”), ADS PRIORITY TRANSPORT, LTD., an Ohio limited liability company (“ADS
Priority”; ADS, ADS Ashland and ADS Priority are sometimes referred to herein individually as
an “Additional Grantor” and, collectively, the “Additional Grantors”), in favor of
Bear Stearns Corporate Lending Inc., as administrative agent (in such capacity, the
“Administrative Agent”) for the banks and other financial institutions (the “Lenders”)
parties to the Credit Agreement referred to below. All capitalized terms not defined herein shall
have the meaning ascribed to them in such Credit Agreement.

RECITALS

     A. Insurance Auto Auctions, Inc., an Illinois corporation, the Lenders and the Administrative
Agent have entered into a Credit Agreement, dated as of May 19, 2005, as amended and restated as of
June 29, 2006, (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”);

     B. In connection with the Credit Agreement, Inc., Insurance Auto Auctions, Inc. and certain of
its Affiliates (other than the Additional Grantors) have entered into the Guarantee and Collateral
Agreement, dated as of May 25, 2005 (as amended, supplemented or otherwise modified from time to
time, the “Guarantee and Collateral Agreement”) in favor of the Administrative Agent for
the benefit of the Secured Parties;

     C. The Credit Agreement requires the Additional Grantors to become parties to the Guarantee
and Collateral Agreement; and

     D. The Additional Grantors have each agreed to execute and deliver this Assumption Agreement
in order to become a party to the Guarantee and Collateral Agreement.

     NOW, THEREFORE, IT IS AGREED:

     1. Guarantee and Collateral Agreement. By executing and delivering this Assumption
Agreement, each Additional Grantor, as provided in Section 8.14 of the Guarantee and Collateral
Agreement, hereby becomes a party to the Guarantee and Collateral Agreement as a Grantor thereunder
with the same force and effect as if originally named therein as a Grantor and, without limiting
the generality of the foregoing, hereby expressly guarantees the Borrower Obligations (as defined
in the Guarantee and Collateral Agreement) as set forth in Section 2 thereof, grants the
Administrative Agent, for the benefit of the Secured Parties, a security interest in its property
as set forth in Section 3 thereof, and assumes all other obligations and liabilities of a Grantor
set forth therein. The information set forth in Annex 1-A hereto is hereby added to the
information set forth in Schedules 1 through 7 to the Guarantee and Collateral Agreement. Each
Additional Grantor hereby represents and warrants that each of the representations and warranties
contained in section 4 of the Guarantee and Collateral Agreement, as they relate to such Additional
Grantor, is true and correct in all material respects on and as the date hereof (after giving
effect to this Assumption Agreement) as if made on and as of such date.

 

 

     2. GOVERNING LAW. THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. THE PROVISIONS OF SECTIONS 8.1,
8.3, 8.4, 8.5, 8.7, 8.8, 8.9, 8.10, 8.12, 8.13 AND 8.16 OF THE GUARANTEE AND COLLATERAL AGREEMENT
SHALL APPLY WITH LIKE EFFECT TO THIS ASSUMPTION AGREEMENT, AS FULLY AS IF SET FORTH AT LENGTH
HEREIN.

     IN WITNESS WHEREOF, the undersigned has caused this Assumption Agreement to be duly executed
and delivered as of the date first above written.

	 	 	 	 	 	 	 	 	 
	 	 	AUTO DISPOSAL SYSTEMS, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	/s/ Scott Pettit	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	ADS ASHLAND, LLC	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	/s/ Scott Pettit	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	ADS PRIORITY TRANSPORT, LTD.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	/s/ Scott Pettit	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

  2

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