Document:

Exhibit 10.101

Exhibit 10.101

	 	 	 
	

	 	ARIZONA HEALTH CARE COST CONTAINMENT SYSTEM ADMINISTRATION

DIVISION OF BUSINESS AND FINANCE

SECTION A: CONTRACT

	 	 	 	 	 	 	 
	1. AMENDMENT NUMBER:

	 	2. CONTRACT NO.:
	 	3. EFFECTIVE DATE OF
AMENDMENT:
	 	4. PROGRAM
	15

	 	YH09-0001-07
	 	October 1, 2010
	 	DHCM - ACUTE

5. CONTRACTOR’S NAME AND ADDRESS:

VHS Phoenix Health Plan, LLC

7878 16th St. Suite, 105

Phoenix, AZ 85020

6. PURPOSE OF AMENDMENT: To amend Section B, Capitation Rates, to allow for payment of rural
hospital inpatient reimbursement, effective October 1, 2010 to September 30, 2011.

7. THE CONTRACT REFERENCED ABOVE FOLLOWS

ADD to Section B, CAPITATION RATES after first subparagraph add the following language:

“The Contractor will be paid the attached supplemental payment amounts to increase rural hospital
impatient reimbursement. The supplemental payment amounts are allocated to the appropriate risk
groups based on historical utilization. AHCCCS requires that the Contractor make one-time payments
to each rural hospital as prescribed on the attached schedule, pursuant to A.R.S. §36-2905.02. to
increase inpatient reimbursement to these small rural hospitals.

The Contractor shall make the prescribed payments to the rural hospitals 15 days from receipt of
the funds and submit proof of payment to the rural hospitals to the Assistant Director of the
Division of Health Care Management 30 days from receipt of the funds.

The regular per member per month capitation rates for the period of October 1, 2010 through
September 30, 2011.

NOTE: Please sign, date, and return executed file by E-Mail to: Mark Held at
Mark_Held@azahcccs.gov

	 	 	 	 	 
	 

	 	Sr. Procurement Specialist AHCCCS
	 	 
	 

	 	Contracts and Purchasing 	 	 
	 

	 	and Linda Barry at Linda.Barry@azahcccs.gov	 	 

8. EXCEPT AS PROVIDED FOR HEREIN, ALL TERMS AND CONDITIONS OF THE ORIGINAL CONTRACT NOT HERETOFORE
CHANGED AND/OR AMENDED REMAIN UNCHANGED AND IN FULL EFFECT.

IN WITNESS WHEREOF THE PARTIES HERETO SIGN THEIR NAMES IN AGREEMENT

	 	 	 
	9. SIGNATURE OF AUTHORIZED REPRESENTATIVE:

	 	10. SIGNATURE OF AHCCCSA CONTRACTING OFFICER:
	 
	 	 
	/s/ Nancy Novick

	 	/s/ Michael Veit
	 
	 	 
	TYPED NAME: NANCY NOVICK

	 	TYPED NAME: MICHAEL VEIT
	 
	 	 
	TITLE: CHIEF EXECUTIVE OFFICER

	 	TITLE: CONTRACTS & PURCHASING ADMINISITRATOR
	 
	 	 
	DATE: 5/2/11

	 	DATE: APR 29 2011

 

 

 

ARIZONA HEALTH CARE COST CONTAINMENT SYSTEM

ACUTE SUPPLEMENTAL PAYMENT SUMMARY — Rural Hospital

Phoenix Health plan

CYE 2011

Supplemental Payment Related To:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	TANF	 	 	TANF	 	 	SSI	 	 	 	 	 	 	 	 	 	 	Total	 
	Supplemental Payment:	 	<1, M/F	 	 	14-44, F	 	 	w/o Med	 	 	Non-MED	 	 	MED	 	 	Payment	 
	4 Apache/Coconinc/Mohave/Navajo
	 	$	195,320.93	 	 	$	458,538.53	 	 	$	149,817.60	 	 	$	555,190.33	 	 	$	112,994.77	 	 	$	1,471,861.16	 
	6 Yavapal
	 	$	116,670.70	 	 	$	410,589.54	 	 	$	266,745.98	 	 	$	686,296.05	 	 	$	171,828.04	 	 	$	1,652,330.31	 
	8 Gllo/Pinal
	 	$	57,037.46	 	 	$	193,370.20	 	 	$	245,893.13	 	 	$	312,846.37	 	 	$	75,275.75	 	 	$	884,424.91	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	$	4,008,616.38	 

Two percent premium tax is included in the Supplemental Capltation Payments.
Payments to the hospitals stated without Premium Tax.

	 	 	 	 	 
	Phoenix Health Plan	 	Payment	 
	Benson Hospital
	 	$	—	 
	Carondelet Holy Cross
	 	$	—	 
	Cobre Valley Community Hospital
	 	$	292,691.53	 
	Copper Queen Community Hospital
	 	$	—	 
	Huralapai Mountain Medicare Center
	 	$	108,685.35	 
	La Paz Regional Hospital
	 	$	72,000.77	 
	Little Colorado Medical Center
	 	$	269,324.64	 
	Mount Graham Regional Medical Center
	 	$	—	 
	Northern Cochise Community Hospital
	 	$	—	 
	Page Hospital
	 	$	107,414.48	 
	Payson Regional Medical Center
	 	$	689,638.28	 
	Sierre Vista Regional Health
	 	$	—	 
	Southeastern Az Medical Center
	 	$	—	 
	Summit Healthcare Regional Medical Center
	 	$	446,873.09	 
	Valley View Medical Center
	 	$	311,050.97	 
	Verde Valley Medical Center
	 	$	1,353,961.99	 
	White Mountain Regional Medical Center
	 	$	14,028.18	 
	Wickenburg Regional Health Center
	 	$	26,153.86	 
	YRMC East
	 	$	236,620.91	 
	 
	 	 	 
	Total Payments
	 	$	3,928,444.05	 
	Premium Tax
	 	$	80,172.33	 
	 
	 	 	 
	Total with Premium Tax
	 	$	4,008,616.38exv10w1

Exhibit 10.1

 

 

Published Deal CUSIP Number: 69312FAC8

Published Revolver CUSIP Number: 69312FAD6

Published Term Loan — Series 2009 CUSIP Number: 69312FAE4

Published Term Loan — Series 2010 CUSIP Number: 69312FAF1

Execution Copy

CREDIT AGREEMENT

Dated as of August 19, 2011

among

PAA NATURAL GAS STORAGE, L.P.,

as the Borrower,

BANK OF AMERICA, N.A.,

as Administrative Agent, Swing Line Lender

and

L/C Issuer,

DNB NOR BANK ASA, JPMORGAN CHASE BANK, N.A., SUNTRUST BANK

and

WELLS FARGO BANK, NATIONAL ASSOCIATION

as Co-Syndication Agents,

and

The Other Lenders Party Hereto

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

DNB NOR MARKETS, INC., J.P. MORGAN SECURITIES LLC,

SUNTRUST ROBINSON HUMPHREY, A DIVISION OF SUNTRUST CAPITAL

MARKETS, INC., and WELLS FARGO SECURITIES, LLC,

as

Joint Lead Arrangers and Joint Book Managers

Senior Unsecured Revolving Credit Facility

Two Senior Unsecured 5-Year Term Loan Facilities

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	Section	 	Page	 
	ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS
	 	 	1	 
	 
	 	 	 	 
	1.01 Defined Terms
	 	 	1	 
	1.02 Other Interpretive Provisions
	 	 	28	 
	1.03 Accounting Terms
	 	 	29	 
	1.04 Rounding
	 	 	30	 
	1.05 Times of Day
	 	 	30	 
	1.06 Letter of Credit Amounts
	 	 	30	 
	 
	 	 	 	 
	ARTICLE II. THE TERM LOANS, THE REVOLVING CREDIT COMMITMENTS AND CREDIT EXTENSIONS
	 	 	30	 
	 
	 	 	 	 
	2.01 The Loans
	 	 	30	 
	2.02 Borrowings, Conversions and Continuations of Revolving Credit Loans
	 	 	31	 
	2.03 Letters of Credit
	 	 	33	 
	2.04 Swing Line Loans
	 	 	43	 
	2.05 Prepayments
	 	 	46	 
	2.06 Termination or Reduction of Revolving Credit Commitments
	 	 	48	 
	2.07 Repayment of Loans
	 	 	48	 
	2.08 Interest
	 	 	48	 
	2.09 Fees
	 	 	49	 
	2.10 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate
	 	 	50	 
	2.11 Evidence of Debt
	 	 	51	 
	2.12 Payments Generally; Administrative Agent’s Clawback
	 	 	51	 
	2.13 Sharing of Payments by Lenders
	 	 	53	 
	2.14 Increase in Revolving Credit Commitments
	 	 	54	 
	2.15 Cash Collateral
	 	 	56	 
	2.16 Defaulting Lenders
	 	 	57	 
	 
	 	 	 	 
	ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY
	 	 	60	 
	 
	 	 	 	 
	3.01 Taxes
	 	 	60	 
	3.02 Illegality
	 	 	64	 
	3.03 Inability to Determine Rates
	 	 	65	 
	3.04 Increased Costs; Reserves on Eurodollar Rate Loans
	 	 	65	 
	3.05 Compensation for Losses
	 	 	67	 
	3.06 Mitigation Obligations; Replacement of Lenders
	 	 	68	 
	3.07 Survival
	 	 	68	 
	 
	 	 	 	 
	ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	 	 	68	 
	 
	 	 	 	 
	4.01 Conditions Precedent to Initial Credit Extension
	 	 	68	 
	4.02 Conditions to all Credit Extensions
	 	 	71	 

i

 

	 	 	 	 	 
	ARTICLE V. REPRESENTATIONS AND WARRANTIES
	 	 	71	 
	 
	 	 	 	 
	5.01 Existence, Qualification and Power
	 	 	71	 
	5.02 Authorization; No Contravention
	 	 	71	 
	5.03 Governmental Authorization; Other Consents
	 	 	72	 
	5.04 Binding Effect
	 	 	72	 
	5.05 Financial Statements; No Material Adverse Effect
	 	 	72	 
	5.06 Litigation
	 	 	73	 
	5.07 No Default
	 	 	73	 
	5.08 Ownership of Property; Liens
	 	 	73	 
	5.09 Environmental Compliance
	 	 	73	 
	5.10 Insurance
	 	 	73	 
	5.11 Taxes
	 	 	73	 
	5.12 ERISA Compliance
	 	 	73	 
	5.13 Significant Restricted Persons
	 	 	74	 
	5.14 Margin Regulations; Investment Company Act
	 	 	74	 
	5.15 Disclosure
	 	 	75	 
	5.16 Compliance with Laws
	 	 	75	 
	5.17 Sale of GO Bonds
	 	 	75	 
	 
	 	 	 	 
	ARTICLE VI. AFFIRMATIVE COVENANTS
	 	 	76	 
	 
	 	 	 	 
	6.01 Financial Statements
	 	 	76	 
	6.02 Certificates; Other Information
	 	 	76	 
	6.03 Notices
	 	 	78	 
	6.04 Payment of Taxes, Etc
	 	 	78	 
	6.05 Preservation of Existence, Etc
	 	 	78	 
	6.06 Maintenance of Properties
	 	 	78	 
	6.07 Maintenance of Insurance
	 	 	79	 
	6.08 Compliance with Laws
	 	 	79	 
	6.09 Books and Records
	 	 	79	 
	6.10 Inspection Rights
	 	 	79	 
	6.11 Use of Proceeds
	 	 	79	 
	 
	 	 	 	 
	ARTICLE VII. NEGATIVE COVENANTS
	 	 	80	 
	 
	 	 	 	 
	7.01 Liens
	 	 	80	 
	7.02 Indebtedness
	 	 	82	 
	7.03 Fundamental Changes; Dispositions
	 	 	82	 
	7.04 Restricted Payments
	 	 	83	 
	7.05 Change in Nature of Business
	 	 	83	 
	7.06 Transactions with Affiliates
	 	 	83	 
	7.07 Burdensome Agreements
	 	 	83	 
	7.08 Use of Proceeds
	 	 	84	 
	7.09 Financial Covenants
	 	 	84	 
	7.10 Unrestricted Subsidiaries
	 	 	86	 
	 
	 	 	 	 
	ARTICLE VIII. EVENTS OF DEFAULT AND REMEDIES
	 	 	87	 

ii

 

	 	 	 	 	 
	8.01 Events of Default
	 	 	87	 
	8.02 Remedies Upon Event of Default
	 	 	89	 
	8.03 Application of Funds
	 	 	90	 
	 
	 	 	 	 
	ARTICLE IX. ADMINISTRATIVE AGENT
	 	 	91	 
	 
	 	 	 	 
	9.01 Appointment and Authority
	 	 	91	 
	9.02 Rights as a Lender
	 	 	91	 
	9.03 Exculpatory Provisions
	 	 	91	 
	9.04 Reliance by Administrative Agent
	 	 	92	 
	9.05 Delegation of Duties
	 	 	93	 
	9.06 Resignation or Removal of Administrative Agent
	 	 	93	 
	9.07 Non-Reliance on Administrative Agent and Other Lenders
	 	 	94	 
	9.08 No Other Duties, Etc
	 	 	94	 
	9.09 Administrative Agent May File Proofs of Claim
	 	 	94	 
	9.10 Collateral Matters
	 	 	95	 
	 
	 	 	 	 
	ARTICLE X. CONTINUING GUARANTY
	 	 	95	 
	 
	 	 	 	 
	10.01 Borrower Guaranty
	 	 	95	 
	10.02 Rights of Lenders
	 	 	96	 
	10.03 Collateral Matters
	 	 	96	 
	10.04 Obligations Independent
	 	 	97	 
	10.05 Subrogation
	 	 	97	 
	10.06 Termination; Reinstatement
	 	 	97	 
	10.07 Subordination
	 	 	97	 
	10.08 Stay of Acceleration
	 	 	98	 
	10.09 Condition of the GO Bond Issuer
	 	 	98	 
	 
	 	 	 	 
	ARTICLE XI. MISCELLANEOUS
	 	 	98	 
	 
	 	 	 	 
	11.01 Amendments, Etc
	 	 	98	 
	11.02 Notices; Effectiveness; Electronic Communication
	 	 	100	 
	11.03 No Waiver; Cumulative Remedies; Enforcement; Nature of Obligations
	 	 	102	 
	11.04 Expenses; Indemnity; Damage Waiver
	 	 	103	 
	11.05 Payments Set Aside
	 	 	105	 
	11.06 Successors and Assigns
	 	 	105	 
	11.07 Treatment of Certain Information; Confidentiality
	 	 	111	 
	11.08 Right of Setoff
	 	 	112	 
	11.09 Interest Rate Limitation
	 	 	112	 
	11.10 Counterparts; Integration; Effectiveness
	 	 	113	 
	11.11 Survival of Representations and Warranties
	 	 	113	 
	11.12 Severability
	 	 	113	 
	11.13 Replacement of Lenders
	 	 	113	 
	11.14 Governing Law; Jurisdiction; Etc
	 	 	114	 
	11.15 Waiver of Jury Trial
	 	 	115	 
	11.16 No Advisory or Fiduciary Responsibility
	 	 	115	 
	11.17 No Recourse to Other Persons
	 	 	116	 

iii

 

	 	 	 	 	 
	11.18 Electronic Execution of Assignments and Certain Other Documents
	 	 	116	 
	11.19 USA PATRIOT Act
	 	 	117	 
	11.20 Time of the Essence
	 	 	117	 
	11.21 ENTIRE AGREEMENT
	 	 	117	 
	11.22 Reallocation of Outstanding Loans under Existing Credit Agreement
	 	 	117	 
	 
	 	 	 	 
	SIGNATURES
	 	 	S-1	 
	 
	 	 	 	 
	SCHEDULES
	 	 	 	 
	 
	 	 	 	 
	2.01   Revolving Credit Commitments and Applicable Percentages
	 	 	 	 
	5.03   Governmental Authorization; Other Consents
	 	 	 	 
	5.06   Litigation
	 	 	 	 
	5.07   No Default
	 	 	 	 
	5.09   Environmental Matters
	 	 	 	 
	5.12   ERISA Matters
	 	 	 	 
	5.16   Compliance with Laws
	 	 	 	 
	11.02 Administrative Agent’s Office; Certain Addresses for Notices
	 	 	 	 
	 
	 	 	 	 
	EXHIBITS
	 	 	 	 
	 
	 	 	 	 
	     Form of
	 	 	 	 
	A Revolving Credit Loan Notice
	 	 	 	 
	B Swing Line Loan Notice
	 	 	 	 
	C Revolving Credit Note
	 	 	 	 
	D Swing Line Note
	 	 	 	 
	E Compliance Certificate
	 	 	 	 
	F-1 Assignment and Assumption
	 	 	 	 
	F-2 Administrative Questionnaire
	 	 	 	 
	 
	 	 	 	 
	ANNEXES
	 	 	 	 
	1 GO Bond 2009 Indenture with form of GO Bond 2009
	 	 	 	 
	2 GO Bond 2010 Indenture with form of GO Bond 2010
	 	 	 	 

iv

 

CREDIT AGREEMENT

     This CREDIT AGREEMENT (“Agreement”) is entered into as of August 19, 2011, among PAA
NATURAL GAS STORAGE, L.P., a Delaware limited partnership (the “Borrower”), each lender
from time to time party hereto (collectively, the “Lenders” and individually, a
“Lender”), DNB NOR BANK ASA, JPMORGAN CHASE BANK, N.A., SUNTRUST BANK, and WELLS FARGO
BANK, NATIONAL ASSOCIATION, as Co-Syndication Agents, and BANK OF AMERICA, N.A., as Administrative
Agent, Swing Line Lender and L/C Issuer.

     The Borrower has requested that certain Lenders provide two $100,000,000 term loan facilities
pursuant to the purchase by such Lenders from the Borrower of Outstanding GO Bonds (as defined
herein) of the GO Bond Issuer (as defined herein), and that certain Lenders provide a revolving
credit facility, and the Lenders are willing to do so, in each case, on the terms and conditions
set forth herein.

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

ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS

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

     “Acquired Indebtedness” means, as to any Person, Indebtedness of any other Person
existing at the time such other Person is merged with or becomes a Subsidiary of such specified
Person (regardless of the form of the applicable transaction by which such Person becomes a
Subsidiary), in each case, existing at the time of such acquisition and not incurred in
contemplation of such acquisition.

     “Acquisition Period” means the period beginning, at the election of the Borrower, with
the funding date of the purchase price for a Specified Acquisition and ending on the earliest of
(a) the third following fiscal quarter end, (b) the Borrower’s receipt of proceeds of a Specified
Equity Offering; and (c) the Borrower’s election in writing to terminate such Acquisition Period.

     “Administrative Agent” means Bank of America in its capacity as administrative agent
under any of the Loan Documents, or any successor administrative agent appointed in accordance with
Section 9.06.

     “Administrative Agent’s Office” means the Administrative Agent’s address and, as
appropriate, account as set forth on Schedule 11.02, or such other address or account as
the Administrative Agent may from time to time notify to the Borrower and the Lenders pursuant to
Section 11.02.

     “Administrative Questionnaire” means an Administrative Questionnaire in substantially
the form of Exhibit F-2 or any other form approved by the Administrative Agent.

1

 

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

     “Agreement” means this Credit Agreement.

     “Applicable Percentage” means:

     (a) with respect to any GO Bond 2009 Term Lender at any time, the percentage (carried out to
the ninth decimal place) of the GO Bond 2009 Term Facility represented by (i) on the Closing Date,
the percentage set forth opposite the name of such Lender in Schedule 2.01, under the
caption “GO Bond 2009 Term Percentage” and (ii) thereafter, the principal amount of such
outstanding GO Bonds 2009 then held by such Lender divided by all outstanding GO Bonds 2009;

     (b) with respect to any GO Bond 2010 Term Lender at any time, the percentage (carried out to
the ninth decimal place) of the GO Bond 2010 Term Facility represented by (i) on the Closing Date,
the percentage set forth opposite the name of such Lender in Schedule 2.01, under the
caption “GO Bond 2010 Term Percentage” and (ii) thereafter, the principal amount of such
outstanding GO Bonds 2010 then held by such Lender divided by all outstanding GO Bonds 2010; and

     (c) with respect to any Revolving Credit Lender at any time, the percentage (carried out to
the ninth decimal place) of the Revolving Credit Facility represented by such Revolving Credit
Lender’s Revolving Credit Commitment at such time, subject to adjustment as provided in Section
2.16. If the commitment of each Revolving Credit Lender to make Revolving Credit Loans and the
obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to
Section 8.02, or if the Revolving Credit Facility has expired, then the Applicable
Percentage of each Revolving Credit Lender shall be determined based on the Applicable Percentage
of such Revolving Credit Lender most recently in effect, giving effect to any subsequent
assignments.

The initial Applicable Percentage of each Lender in respect of each Facility is set forth opposite
the name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to
which such Lender becomes a party hereto, as applicable.

     “Applicable Rate” means, from time to time, the following percentages per annum, based
upon the Consolidated Leverage Ratio as set forth in the most recent Compliance Certificate
received by the Administrative Agent pursuant to Section 6.02(a):

2

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Applicable Rate	 	 
	 	 	 	 	Revolving Credit Facility	 	 
	 	 	 	 	 	 	Eurodollar	 	 	 	 
	 	 	 	 	 	 	Rate Loans	 	 	 	 
	 	 	 	 	 	 	and	 	 	 	GO Bonds
	Pricing	 	Consolidated	 	Commitment	 	Letters of	 	Base Rate	 	Term
	Level	 	Leverage Ratio	 	Fee	 	Credit	 	Loans	 	Facilities
	1
	 	<2.50:1	 	0.175%	 	1.375%	 	0.375%	 	1.375%
	2
	 	>2.50:1 but <3.50:1	 	0.200%	 	1.625%	 	0.625%	 	1.625%
	3
	 	>3.50:1 but <4.50:1	 	0.250%	 	1.875%	 	0.875%	 	1.875%
	4
	 	>4.50:1	 	0.300%	 	2.375%	 	1.375%	 	2.375%

     Any increase or decrease in the Applicable Rate resulting from a change in the
Consolidated Leverage Ratio shall become effective as of the first Business Day immediately
following the date a Compliance Certificate is delivered pursuant to Section 6.02(a);
provided, however, that if a Compliance Certificate is not delivered when due in
accordance with such Section, then, upon the request of the Required Lenders, Pricing Level 4 shall
apply as of the first Business Day after the date on which such Compliance Certificate was required
to have been delivered and shall remain in effect until the date on which such Compliance
Certificate is delivered. Subject to the foregoing, the Applicable Rate in effect from the Closing
Date through the first date on which a Compliance Certificate is delivered pursuant to Section
6.02(a) shall be determined based upon the Consolidated Leverage Ratio set forth in the
certificate to be delivered on the Closing Date pursuant to Section 4.01(a)(vii).

     Notwithstanding anything to the contrary contained in this definition, the determination of
the Applicable Rate for any period shall be subject to the provisions of Section 2.10(b).

     “Applicable Revolving Credit Percentage” means with respect to any Revolving Credit
Lender at any time, such Revolving Credit Lender’s Applicable Percentage.

     “Appropriate Lender” means, at any time, (a) with respect to the GO Bond 2009 Term
Facility or the GO Bond 2010 Term Facility, the holders of the outstanding GO Bonds 2009 or GO
Bonds 2010, respectively, (b) with respect to the Revolving Credit Facility, a Lender that has a
Revolving Credit Commitment and (c) with respect to outstanding Swing Line Loans, the Swing Line
Lender.

     “Approved Fund” means any Fund that is solely administered or managed by (a) a Lender,
(b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or
manages a Lender.

     “Arrangers” means each of Merrill Lynch, DnB NOR Markets, Inc., J.P. Morgan Securities
LLC, SunTrust Robinson Humphrey, a Division of SunTrust Capital Markets, Inc., and Wells Fargo
Securities, LLC, in its capacity as co-lead arranger and joint book manager.

3

 

     “Assignee Group” means two or more Eligible Assignees that are Affiliates of one
another or two or more Approved Funds solely managed by the same investment advisor.

     “Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an Eligible Assignee (with the consent of any party whose consent is required by
Section 11.06(b)), and accepted by the Administrative Agent, in substantially the form of
Exhibit F-1 or any other form approved by the Administrative Agent.

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

     “Audited Financial Statements” means the audited consolidated balance sheet of the
Borrower (or its predecessor) and its Subsidiaries for the fiscal year ended December 31, 2010, and
the related consolidated statements of income or operations and cash flows for such fiscal year and
partners’ capital of the Borrower (or its predecessor) and its Subsidiaries, including the notes
thereto.

     “Availability Period” means, in respect of the Revolving Credit Facility, the period
from and including the Closing Date to the earliest of (a) the Maturity Date for the Revolving
Credit Facility, (b) the date of termination of the Revolving Credit Commitments pursuant to
Section 2.06, and (c) the date of termination of the commitment of each Revolving Credit
Lender to make Revolving Credit Loans and of the obligation of the L/C Issuer to make L/C Credit
Extensions pursuant to Section 8.02.

     “Bank of America” means Bank of America, N.A.

     “Base Rate” means for any day a fluctuating rate per annum equal to the
highest of (a) the Federal Funds Rate in effect on such day plus 1/2 of 1%, (b) the rate of
interest in effect for such day as publicly announced from time to time by Bank of America as its
“prime rate,” and (c) the Eurodollar Rate in effect on such day as determined pursuant to clause
(b) of the definition thereof plus 1.00%. The “prime rate” is a rate set by Bank of America based
upon various factors including Bank of America’s costs and desired return, general economic
conditions and other factors, and is used as a reference point for pricing some loans, which may be
priced at, above, or below such announced rate. Any change in such prime rate announced by Bank of
America shall take effect at the opening of business on the day specified in the public
announcement of such change.

     “Base Rate Revolving Credit Loan” means a Revolving Credit Loan that is a Base Rate
Loan.

     “Base Rate Loan” means a Revolving Credit Loan or a Swing Line Loan, in each case,
that bears interest based on the Base Rate.

4

 

     “Bluewater” means Bluewater Natural Gas Holding, LLC, a Delaware limited liability
company.

     “Bluewater Storage Facility” means the natural gas storage facility owned by Bluewater
and located in St. Clair County, Michigan, which facility includes certain buildings, equipment,
compressors, structures and pipelines located on a substantially depleted reservoir known as the
Columbus III Reservoir.

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

     “Borrower Guaranty” means the Guaranty of the payment of the GO Bond Obligations made
by the Borrower under Article X in favor of the Lender Parties.

     “Borrower Materials” has the meaning specified in Section 6.02.

     “Borrowing” means a Revolving Credit Borrowing, a Swing Line Borrowing, the GO Bond
2009 Term Borrowing or the GO Bond 2010 Term Borrowing, as the context may require.

     “Business Day” means (a) any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the Laws of, or are in fact closed in, the state
where the Administrative Agent’s Office is located and the State of Texas and (b) if such day
relates to any Eurodollar Rate Loan, means any such day that satisfies clause (a) hereof that is
also a London Banking Day.

     “Capital Lease” means a lease with respect to which the lessee is required
concurrently to recognize the acquisition of an asset and the incurrence of a liability in
accordance with GAAP, other than any Operating Lease.

     “Cash and Carry Purchases” means purchases of Petroleum Products for physical storage
or in storage or in transit in pipelines which has been hedged by either a NYMEX contract, an OTC
contract, an Intercontinental Exchange contract, or a contract for physical delivery.

     “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative
Agent, for the benefit of the L/C Issuer or Swing Line Lender (as applicable) and the Lenders, as
collateral for L/C Obligations, payment Obligations in respect of Swing Line Loans, or obligations
of Lenders to fund participations in respect of either thereof (as the context may require), cash
or deposit account balances or, if the L/C Issuer or Swing Line Lender benefitting from such
collateral shall agree in its sole discretion, other credit support, in each case pursuant to
documentation in form and substance reasonably satisfactory to (a) the Administrative Agent and (b)
the L/C Issuer or the Swing Line Lender (as applicable). “Cash Collateral” shall have a meaning
correlative to the foregoing and shall include the proceeds of such cash collateral and other
credit support.

     “Change in Law” means the occurrence, after the date of this Agreement, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change
in any law, rule, regulation or treaty or in the administration, interpretation or application
thereof by any Governmental Authority or (c) the making or issuance of any request, guideline or
directive (whether or not having the force of law) by any Governmental Authority; provided
that

5

 

notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and
Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in
connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank
for International settlements, the Basel Committee on Banking Supervision (or any successor or
similar authority) or the United States regulatory authorities, in each case pursuant to Basel III,
shall, in each case, be deemed to be a “Change in Law”, regardless of the date enacted, adopted or
issued.

     “Change of Control” means an event or series of events by which PAA or its Affiliates
cease to be, directly or indirectly, the beneficial owner (within the meaning of Rule 13d-3 under
the Securities Exchange Act of 1934, as amended) of a majority of the outstanding general
partnership interests in the Borrower, or cease to control, directly or indirectly, the election of
a majority of the directors of the General Partner.

     “Closing Date” means the first date on which all the conditions precedent in
Section 4.01 are satisfied or waived in accordance with Section 11.01.

     “Code” means the Internal Revenue Code of 1986, as amended.

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

     “Consolidated Assets” means, as of any date of determination, the total assets of the
Borrower and its Subsidiaries as set forth on a consolidated balance sheet of the Borrower and its
Subsidiaries for their most recently completed fiscal quarter, prepared in accordance with GAAP.

     “Consolidated EBITDA” means, for any period, an amount equal to Consolidated Net
Income for such period plus (a) the following to the extent deducted in calculating such
Consolidated Net Income for such period: (i) Consolidated Interest Charges and other interest
charges and expenses, (ii) the provision for Federal, state, local and foreign income taxes (or
franchise taxes, to the extent based upon net income) payable by the Borrower and its Subsidiaries
(excluding, for the avoidance of doubt, Unrestricted Subsidiaries), (iii) depreciation, depletion
and amortization expense, (iv) costs or expenses resulting from distributions or redemptions of the
Borrower’s units issued pursuant to the Borrower’s long-term incentive plan, (v) any
acquisition-related expenses deducted from Consolidated Net Income and associated with (A) closed
acquisitions or (B) any other potential acquisitions that have not been abandoned (minus any
acquisition-related expenses covered by clause (B) that relate to (x) potential acquisitions that
have since been abandoned or (y) potential acquisitions that have not been consummated within one
year following the date such expense was incurred (except that if the potential acquisition is the
subject of a pending purchase and sale agreement as of such one-year date, such one-year period of
time shall be extended until the first to occur of the termination of such purchase and sale
agreement or the first day following the closing of the acquisition contemplated by such purchase
and sale agreement), and (vi) other non-recurring expenses of the Borrower and its Subsidiaries
(excluding, for the avoidance of doubt, Unrestricted Subsidiaries) reducing such Consolidated Net
Income which do not represent a cash item in such period or any future period and minus (b)
the following to the extent included in calculating such Consolidated Net Income: (i) Federal,
state, local and foreign income tax credits of the Borrower and its Subsidiaries (excluding, for
the avoidance of doubt, Unrestricted Subsidiaries) and (ii) all non-

6

 

cash items increasing Consolidated Net Income; provided, that, only for purposes of
determining compliance with the financial covenants set forth in Section 7.09, if, since
the beginning of the period ending on the date for which Consolidated EBITDA is determined, any
Restricted Person shall have made any asset disposition or acquisition, shall have consolidated or
merged with or into any Person (other than another Restricted Person), or shall have made any
disposition or acquisition of a Restricted Person or of any partial ownership interest in any other
Person, Consolidated EBITDA shall be calculated giving pro forma effect thereto as if the
disposition, acquisition, consolidation or merger had occurred on the first day of such period, and
such calculation shall be determined in good faith by a financial officer of the Borrower (and the
Borrower will provide to the Administrative Agent such supporting information as Administrative
Agent may reasonably request), without giving effect to any anticipated or proposed change in
operations, revenues, expenses or other items included in the computation of Consolidated EBITDA,
except cost reductions specifically identified at the time of disposition, acquisition,
consolidation or merger that are attributable to personnel reductions, non-recurring maintenance
and environmental costs and allocated corporate overhead; provided, further, Consolidated EBITDA
may, as provided in Section 7.09(b), include Material Project EBITDA Adjustments and New
Cavern EBITDA Adjustments.

     “Consolidated Funded Indebtedness” means, as of any date of determination, the sum of
(without duplication): (i) the outstanding principal amount of all Indebtedness which is classified
as “long-term indebtedness” on a consolidated balance sheet of the Borrower and its Subsidiaries on
a consolidated basis (excluding, for the avoidance of doubt, Unrestricted Subsidiaries) prepared as
of such date in accordance with GAAP (subject to year-end audit adjustments with respect to
non-year end periods) and any current maturities and other principal amount in respect of such
Indebtedness due within one year but which was classified as “long-term indebtedness” at the
creation thereof; (ii) the outstanding principal amount of Indebtedness for borrowed money of the
Borrower and its Subsidiaries on a consolidated basis (excluding, for the avoidance of doubt,
Unrestricted Subsidiaries) outstanding under a revolving credit, term or similar agreement (and
renewals and extensions thereof); and (iii) the outstanding principal amount of Indebtedness in
respect of Capital Leases of the Borrower and its Subsidiaries on a consolidated basis (excluding,
for the avoidance of doubt, Unrestricted Subsidiaries); provided, however,
Consolidated Funded Indebtedness shall not, if otherwise applicable, include (x) Indebtedness in
respect of letters of credit, (y) Indebtedness incurred to finance Cash and Carry Purchases or (z)
margin deposits.

     “Consolidated Interest Charges” means, for any period, for the Borrower and its
Subsidiaries on a consolidated basis (excluding, for the avoidance of doubt, Unrestricted
Subsidiaries), the sum of (a) all interest, premium payments, debt discount, fees, charges and
related expenses of the Borrower and its Subsidiaries (excluding, for the avoidance of doubt,
Unrestricted Subsidiaries) in connection with borrowed money or in connection with the deferred
purchase price of assets, in each case to the extent treated as interest in accordance with GAAP,
and (b) the portion of rent expense of the Borrower and its Subsidiaries (excluding, for the
avoidance of doubt, Unrestricted Subsidiaries) with respect to such period under Capital Leases
that is treated as interest in accordance with GAAP; provided, however, the calculation of
Consolidated Interest Charges shall not include any interest, premium payments, debt discount,
fees, charges, related expenses and rent expense that are capitalized in accordance with GAAP.

7

 

     “Consolidated Interest Coverage Ratio” means, as of any date of determination, the
ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Charges for such
period.

     “Consolidated Leverage Ratio” means, as of the end of any fiscal quarter, the ratio of
(a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the trailing
four quarter period ending on such date, as Consolidated EBITDA may be adjusted pursuant to
Section 7.09(b).

     “Consolidated Net Income” means, for any period, for the Borrower and its Subsidiaries
on a consolidated basis (excluding, for the avoidance of doubt, Unrestricted Subsidiaries), the net
income of the Borrower and its Subsidiaries (excluding, for the avoidance of doubt, Unrestricted
Subsidiaries) for that period, including any cash dividends or distributions actually received from
any Unrestricted Subsidiaries or other Persons during such period, limiting net income attributed
to any non-wholly-owned consolidated Subsidiary to a proportional amount of such Subsidiary’s net
income equal to the Borrower’s direct or indirect ownership interest therein. “Consolidated Net
Income” shall not include (i) any gain or loss from the sale of assets other than in the ordinary
course of business, (ii) any non-cash gains or losses resulting from mark to market activity as a
result of the implementation of SFAS 133 or EITF 98-10 or (iii) any extraordinary gains or losses.
In addition, “Consolidated Net Income” shall not include the cost or proceeds of purchasing or
selling options which are used to hedge future activity, until the period in which such hedged
future activity occurs.

     “Consolidated Net Tangible Assets” means, as of any date of determination, the
Consolidated Assets of the Borrower and its Subsidiaries, after deducting therefrom: (a) all
current liabilities, excluding (i) any current liabilities that by their terms are extendable or
renewable at the option of the obligor thereon to a time more than 12 months after the time as of
which the amount thereof is being computed, and (ii) current maturities of long-term debt; and (b)
the book value (net of any applicable reserves and accumulated amortization) of all goodwill, trade
names, trademarks, patents and other like intangible assets, all as set forth, or on a pro forma
basis would be set forth, on the consolidated balance sheet of the Borrower and its Subsidiaries
for the Borrower’s most recently completed fiscal quarter, prepared in accordance with GAAP.

     “Consolidated Net Worth” means, at any date of determination, the sum of (a) preferred
stock (if any), (b) par value of common stock, (c) capital in excess of par value of common stock,
(d) partners’ capital or equity and (e) retained earnings, less treasury stock (if any), of such
Person, all as determined on a consolidated basis.

     “Consolidated Total Capitalization” means the sum of (a) Consolidated Funded
Indebtedness and (b) the Borrower’s Consolidated Net Worth.

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

8

 

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

     “Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit
Extension.

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

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

     “Default Rate” means, at any time during a Default Rate Period, (a) when used with
respect to Obligations other than Letter of Credit Fees, an interest rate equal to (i) the Base
Rate plus (ii) the Applicable Rate applicable to Base Rate Loans plus (iii) 2% per
annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default
Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise
applicable to such Eurodollar Rate Loan plus 2% per annum, and (b) when used with respect to Letter
of Credit Fees, a rate equal to the Applicable Rate plus 2% per annum.

     “Default Rate Period” means (a) any period during which an Event of Default, other
than pursuant to Section 8.01(a), is continuing, provided that such period shall not begin
until notice of the commencement of the Default Rate has been given to the Borrower by the
Administrative Agent upon the instruction by the Required Lenders and (b) any period during which
any Event of Default pursuant to Sections 8.01(a) is continuing unless the Borrower has
been notified otherwise by the Administrative Agent upon the instruction by the Required Lenders.

     “Defaulting Lender” means, subject to Section 2.16(b), any Lender that, as
determined by the Administrative Agent, (a) has failed to fund any of its funding obligations
hereunder in respect of its Loans or participations in respect of Letters of Credit or Swing Line
Loans, within two Business Days of the date required to be funded by it hereunder, or has failed to
make any payment to the Administrative Agent required under Section 3.01(c)(ii) within the
time specified therein, and the Administrative Agent shall have exercised its indemnification right
against the Borrower pursuant to the second sentence of Section 3.01(c)(i), (b) has
notified the Borrower or the Administrative Agent that it does not intend to comply with its
funding obligations hereunder or has made a public statement to that effect with respect to its
funding obligations hereunder or under other agreements in which it commits to extend credit, (c)
has failed, within two Business Days after request by the Administrative Agent, to confirm in a
manner satisfactory to the Administrative Agent that it will comply with its funding obligations
hereunder, or (d) has, or has a direct or indirect parent company that has, (i) become the subject
of a proceeding under any Debtor Relief Law, (ii) had a receiver, conservator, trustee,
administrator, assignee for the benefit of creditors or similar Person charged with reorganization
or liquidation of its business or

9

 

a custodian appointed for it, or (iii) taken any action in furtherance of, or indicated its
consent to, approval of or acquiescence in any such proceeding or appointment; provided
that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of
any equity interest in that Lender or any direct or indirect parent company thereof by a
Governmental Authority so long as such ownership interest does not result in or provide such Lender
with immunity from the jurisdiction of courts within the United States or from the enforcement of
judgments or writs of attachment on its assets or permit such Lender (or Governmental Authority) to
reject, repudiate, disavow or disaffirm any contracts or agreements made by such Lender.

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

     “Eligible Assignee” means any Person that meets the requirements to be an assignee
under Section 11.06(b)(iii), and (v) (subject to such consents, if any, as may be
required under Section 11.06(b)(iii)).

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

     “Equity Interests” means, with respect to any Person, all of the shares of capital
stock of (or other ownership or profit interests in) such Person, all of the warrants, options or
other rights for the purchase or acquisition from such Person of shares of capital stock of (or
other ownership or profit interests in) such Person, and all of the other ownership or profit
interests in such Person (including partnership, member or trust interests therein), whether voting
or nonvoting, and whether or not such shares, warrants, options, rights or other interests are
outstanding on any date of determination, excluding, however, all debt securities convertible into
or exchangeable for shares of capital stock of (or other ownership or profit interests in) such
Person or warrants, rights or options for the purchase or acquisition from such Person of such
shares (or such other interests).

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

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

     “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the
withdrawal of the Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of
ERISA during a plan year in which such entity was a “substantial employer” as defined in Section
4001(a)(2) of ERISA or a cessation of operations that is treated as such a withdrawal under Section
4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from
a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing
of a notice of intent to terminate a Pension Plan or the treatment of a

10

 

Pension Plan amendment as a termination under Section 4041 or 4041A of ERISA; (e) the
institution by the PBGC of proceedings to terminate a Pension Plan; (f) any event or condition
which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of
a trustee to administer, any Pension Plan; (g) the determination that any Pension Plan is
considered an at-risk plan or a plan in endangered or critical status within the meaning of
Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; or (h) the imposition
of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under
Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate.

     “Eurodollar Rate” means:

     (a) for any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal
to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters
(or such other commercially available source providing quotations of BBA LIBOR as may be designated
by the Administrative Agent from time to time) at approximately 12:00 p.m., London time, two London
Banking Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery
on the first day of such Interest Period) with a term equivalent to such Interest Period or (ii) if
such rate is not available at such time for any reason, the rate per annum determined by the
Administrative Agent to be the rate at which deposits in Dollars for delivery on the first day of
such Interest Period in same day funds in the approximate amount of the Eurodollar Rate Loan being
made, continued or converted and with a term equivalent to such Interest Period would be offered by
Bank of America’s London Branch to major banks in the London interbank eurodollar market at their
request at approximately 12:00 p.m. (London time) two London Banking Days prior to the commencement
of such Interest Period; and

     (b) for any interest calculation with respect to a Base Rate Loan or a Swing Line Loan based
on the Eurodollar Rate on any date, the rate per annum equal to (i) BBA LIBOR, at approximately
12:00 p.m., London time on such date for Dollar deposits being delivered in the London interbank
market for a term of seven days (or if a term of seven days is unavailable then a term of one
month) commencing that day or (ii) if such published rates are not available at such time for any
reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits
in Dollars for delivery on the date of determination in same day funds in the approximate amount of
the Base Rate Loan being made, continued or converted and with a term equal to one month would be
offered by Bank of America’s London Branch to major banks in the London interbank Eurodollar market
at their request at the date and time of determination.

     “Eurodollar Rate Revolving Credit Loan” means a Revolving Credit Loan that bears
interest at a rate based on clause (a) of the definition of “Eurodollar Rate.”

     “Eurodollar Rate Loan” means (i) a Eurodollar Rate Revolving Credit Loan, (ii) any GO
Bond Term Loan or (iii) a Swing Line Loan that bears interest at a rate based on the Eurodollar
Rate.

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

     “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the L/C
Issuer or any other recipient of any payment to be made by or on account of any obligation of the

11

 

Borrower hereunder, (a) taxes imposed on or measured by its overall net income or net profits
(however denominated), and franchise taxes or capital taxes imposed on it (in lieu of or in
addition to net income or net profits taxes), by the jurisdiction (or any political subdivision
thereof) under the Laws of which such recipient is organized or in which its principal office is
located or, in the case of any Lender, in which its applicable Lending Office is located, (b) any
branch profits taxes imposed by the United States or any similar tax imposed by any other
jurisdiction in which the Borrower is located, (c) any backup withholding tax that is required by
the Code to be withheld from amounts payable to a Lender, (d) in the case of a Foreign Lender
(other than an assignee pursuant to a request by the Borrower under Section 11.13), any
withholding tax that (i) is required to be imposed on amounts payable to such Foreign Lender
pursuant to the Laws in force at the time such Foreign Lender becomes a party hereto (or designates
a new Lending Office), except to the extent that such Foreign Lender (or its assignor, if any) was
entitled, at the time of designation of a new Lending Office (or assignment), to receive additional
amounts from the Borrower with respect to such withholding tax pursuant to Section
3.01(a)(ii) or (c), or (ii) is attributable to such Foreign Lender’s failure or
inability (other than as a result of a Change in Law) to comply with Section 3.01(e), and
(e) any Taxes under FATCA.

     “Existing Credit Agreement” means that certain Credit Agreement dated April 7, 2010,
as amended by First Amendment to Credit Agreement dated March 10, 2011, among the Borrower, Bank of
America, as administrative agent, and the lenders named therein.

     “Existing Letters of Credit” means the letters of credit issued and outstanding under
the Existing Credit Agreement as of the Closing Date.

     “Facility” means the GO Bond 2009 Term Facility, the GO Bond 2010 Term Facility or the
Revolving Credit Facility, as the context may require.

     “FASB ASC” means the Accounting Standards Codification of the Financial Accounting
Standards Board.

     “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement
(and any amended or successor versions thereof that are substantively comparable and not materially
more onerous to comply with) and any current or future regulations or official interpretations
thereof.

     “Federal Funds Rate” means, for any day, the rate per annum equal to the
weighted average of the rates on overnight Federal funds transactions with members of the Federal
Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve
Bank of New York on the Business Day next succeeding such day; provided that (a) if such
day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such
transactions on the next preceding Business Day as so published on the next succeeding Business
Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal
Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole
multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as determined
by the Administrative Agent.

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     “Fee Letters” means each of the letter agreements among the Borrower, the
Administrative Agent, and/or the Arrangers and executed in relation to this Agreement and the
transactions contemplated thereby.

     “Foreign Lender” means any Lender that is organized under the Laws of a jurisdiction
other than the United States (including such a Lender when acting in the capacity of the L/C
Issuer). For purposes of this definition, the United States, each State thereof and the District
of Columbia shall constitute a single jurisdiction.

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

     “Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect
to any L/C Issuer, such Defaulting Lender’s Applicable Percentage of the outstanding L/C
Obligations other than L/C Obligations as to which such Defaulting Lender’s participation
obligation has been reallocated to other Revolving Credit Lenders or Cash Collateralized in
accordance with the terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting
Lender’s Applicable Percentage of Swing Line Loans other than Swing Line Loans as to which such
Defaulting Lender’s participation obligation has been reallocated to other Revolving Credit Lenders
or Cash Collateralized in accordance with the terms hereof.

     “Fund” means any Person (other than a natural person) that is engaged in making,
purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in
the ordinary course of its business.

     “GAAP” means those generally accepted accounting principles and practices which are
recognized as such by the Financial Accounting Standards Board (or any generally recognized
successor) and which, in the case of the Borrower and its Subsidiaries on a consolidated basis, are
applied for all periods after the date hereof in a manner consistent with the manner in which such
principles and practices were applied to the Audited Financial Statements.

     “General Partner” means PNGS GP LLC, a Delaware limited liability company, in its
capacity as the sole general partner of the Borrower.

     “GO Bond 2009 Indenture” means that certain Indenture of Trust, dated as of September
1 2009, between GO Bond Issuer and GO Bond Trustee, as supplemented by a First Supplemental
Indenture of Trust of even date herewith among the GO Bond Issuer, the GO Bond Trustee, the
Administrative Agent and the GO Bond 2009 Term Lenders, as purchasers thereunder. A copy of the GO
Bond 2009 Indenture as of the Closing Date is attached as Annex 1.

     “GO Bond 2009 Term Borrowing” means the extension of the GO Bond 2009 Term Loans made
by each of the GO Bond 2009 Term Lenders pursuant to Section 2.01(a)(i).

     “GO Bond 2009 Term Facility” means, at any time, the aggregate principal amount of the
outstanding GO Bonds 2009 at such time, which as of the Closing Date is $100,000,000.

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     “GO Bond 2009 Term Lender” means, at any time, any Lender that holds outstanding GO
Bonds 2009 at such time.

     “GO Bond 2009 Term Loan” has the meaning specified in Section 2.01(a)(i).

     “GO Bond 2010 Indenture” means that certain Indenture of Trust, dated as of August 1,
2010, between GO Bond Issuer and GO Bond Indenture Trustee, as supplemented by a First Supplemental
Indenture of Trust of even date herewith among the GO Bond Issuer, the GO Bond Trustee, the
Administrative Agent and the GO Bond 2010 Term Lenders, as purchasers thereunder. A copy of the GO
Bond 2010 Indenture as of the Closing Date is attached as Annex 2.

     “GO Bond 2010 Term Borrowing” means the extension of the GO Bond 2010 Term Loans made
by each of the GO Bond 2010 Term Lenders pursuant to Section 2.01(a)(ii).

     “GO Bond 2010 Term Facility” means, at any time, the aggregate principal amount of the
outstanding GO Bonds 2010 at such time, which as of the Closing Date is $100,000,000.

     “GO Bond 2010 Term Lender” means, at any time, any Lender that holds outstanding GO
Bonds 2010 at such time.

     “GO Bond 2010 Term Loan” has the meaning specified in Section 2.01(a)(ii).

     “GO Bond Documents” means a collective reference to (a) the GO Bond Indentures, (b)
the GO Bonds, and (c) the GO Bond Loan Agreements.

     “GO Bond Indentures” means the GO Bond 2009 Indenture and the GO Bond 2010 Indenture.

     “GO Bond Indenture Default” means a “Default” as such term is defined in either of the
GO Bond Indentures.

     “GO Bond Issuer” means the Mississippi Business Finance Corporation, a public
corporation organized and existing under the Constitution and Laws of the State of Mississippi.

     “GO Bond Loan Agreements” means (i) that certain Loan Agreement dated September 1,
2009 between the GO Bond Issuer and SG Resources relating to the GO Bonds 2009, as modified and
assumed by the Borrower pursuant to that certain Assignment, Assumption and Release Agreement dated
March 2, 2011 (the “Assignment”), among SG Resources, the Borrower and the GO Bond Issuer,
and as amended by that certain First Amendment thereto of even date herewith, by the GO Bond Issuer
and the Borrower, and approved by the Administrative Agent for and on behalf of the GO Bond 2009
Term Lenders, and (ii) that certain Loan Agreement dated August 1, 2010 between the GO Bond Issuer
and SG Resources relating to the GO Bonds 2010, as modified and assumed by the Borrower pursuant to
the Assignment, and as amended by that certain First Amendment thereto of even date herewith, by
the GO Bond Issuer and the Borrower, and approved by the Administrative Agent for and on behalf of
the GO Bond 2010 Term Lenders.

14

 

     “GO Bond Mandatory Put Date” means such date that is five years from the Closing Date.

     “GO Bond Obligations” means all debts, liabilities, obligations, covenants and duties
of, the GO Bond Issuer to any GO Bond Term Lender or the Administrative Agent arising under any GO
Bond Document, whether direct or indirect (including those acquired by assumption), absolute or
contingent, due or to become due, now existing or hereafter arising and including interest and fees
that accrue after the commencement by or against the GO Bond Issuer or any of its Affiliates of any
proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding,
regardless of whether such interest and fees are allowed claims in such proceeding.

     “GO Bond Put Right” has the meaning specified in Section 2.07(c).

     “GO Bond Term Borrowing” means either a GO Bond 2009 Term Borrowing or a GO Bond 2010
Term Borrowing.

     “GO Bond Term Facilities” means, at any time, the GO Bond 2009 Term Facility and the
GO Bond 2010 Term Facility.

     “GO Bond Term Lender” means, at any time, a GO Bond 2009 Term Lender or a GO Bond 2010
Term Lender.

     “GO Bond Term Loan” means a GO Bond 2009 Term Loan or a GO Bond 2010 Term Loan.

     “GO Bond Trustee” means The Bank of New York Mellon Trust Company, N.A., as trustee
under each of the GO Bond Indentures.

     “GO Bonds 2009” means the GO Bond Issuer’s $100,000,000 in principal amount
Mississippi Business Finance Corporation Gulf Opportunity Zone Industrial Development Revenue Bonds
(PAA Natural Gas Storage, L.P. Project) Series 2009 (CUSIP: 60528ABG8) issued pursuant to the GO
Bond 2009 Indenture. The aggregate outstanding principal amount and face amount of GO Bonds 2009
to be reissued by the GO Bond Issuer to the GO Bond 2009 Term Lenders on the Closing Date is
$100,000,000.

     “GO Bonds 2010” means the GO Bond Issuer’s $100,000,000 in principal amount
Mississippi Business Finance Corporation Gulf Opportunity Zone Industrial Development Revenue Bonds
(PAA Natural Gas Storage, L.P. Project) Series 2010 (CUSIP: 60528ABQ6) issued pursuant to the GO
Bond 2010 Indenture. The aggregate outstanding principal amount and face amount of GO Bonds 2010
to be reissued by the GO Bond Issuer to the GO Bond 2010 Term Lenders on the Closing Date is
$100,000,000.

     “GO Bonds” means the GO Bonds 2009 and the GO Bonds 2010.

     “Governmental Authority” means the government of the United States or any other
nation, or of any political subdivision thereof, whether state or local, and any agency, authority,
instrumentality, regulatory body, court, central bank or other entity exercising executive,

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legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including any supra-national bodies such as the European Union or the
European Central Bank).

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

     “Hybrid Securities” means any trust preferred securities, or deferrable interest
subordinated debt with a maturity of at least 20 years (and not less than one year after the
Maturity Date), which provides for the optional or mandatory deferral of interest or distributions,
issued by the Borrower, or any business trusts, limited liability companies, limited partnerships
or similar entities (a) substantially all of the common equity, general partner or similar
interests of which are owned (either directly or indirectly through one or more wholly owned
Subsidiaries) at all times by the Borrower or any other Restricted Person, (b) that have been
formed for the purpose of issuing trust preferred securities or deferrable interest subordinated
debt, and (c) substantially all the assets of which consist of (i) subordinated debt of the
Borrower or another Restricted Person and (ii) payments made from time to time on the subordinated
debt.

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

     (a) its obligations for the repayment of borrowed money,

     (b) its obligations to pay the deferred purchase price of property or services
(excluding trade account payables arising in the ordinary course of business), other than
contingent purchase price or similar obligations incurred in connection with an acquisition
and not yet earned or determinable,

     (c) its obligations evidenced by a bond, debenture, note or similar instrument, other
than surety, bid, performance, statutory and other similar bonds and instruments obtained in
the ordinary course of business,

     (d) its obligations, as lessee, constituting principal under Capital Leases,

     (e) its direct or contingent reimbursement obligations with respect to the face amount
of letters of credit pursuant to the applications or reimbursement agreements therefor,

     (f) its obligations for the repayment of outstanding banker’s acceptances, whether
matured or unmatured,

     (g) Synthetic Lease Obligations, or

     (h) its obligations under guaranties of any obligations of any other Person described
in the foregoing clauses (a) through (g).

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     For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any
partnership or joint venture (other than a joint venture that is itself a corporation or limited
liability company) in which such Person is a general partner or a joint venturer, except to the
extent that such Indebtedness is expressly made non-recourse to such Person. The amount of any
Capital Lease or Synthetic Lease Obligation as of any date shall be deemed to be the amount of
Attributable Indebtedness in respect thereof as of such date.

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

     “Indemnitees” has the meaning specified in Section 11.04(b).

     “Information” has the meaning specified in Section 11.07.

     “Initial Pro Forma Forecasts” means the pro forma financial projections and forecasts
prepared by or at the direction of the Borrower and delivered by the Borrower to the Administrative
Agent for the second half of the fiscal year ending December 31, 2011 and for the fiscal years
ending December 31, 2012, December 31, 2013, December 31, 2014 and December 31, 2015.

     “Interest Payment Date” means, (a) as to any Eurodollar Rate Revolving Credit Loan,
the last day of each Interest Period applicable to such Revolving Credit Loan and the Maturity Date
of the Revolving Credit Facility; provided, however, that if any Interest Period
for a Eurodollar Rate Loan exceeds three months, the respective dates that fall every three months
after the beginning of such Interest Period shall also be Interest Payment Dates; (b) as to any
Base Rate Revolving Credit Loan or any Swing Line Loan, the last Business Day of each March, June,
September and December and the Maturity Date of the Revolving Credit Facility; and (c) as to any GO
Bond Term Loan, the interest payment date set forth in the GO Bond Indenture governing such GO Bond
evidencing such GO Bond Term Loan, which as of the Closing Date is the first Business Day of each
calendar month, and the Maturity Date of the applicable GO Bond Term Facility.

     “Interest Period” means as to each Eurodollar Rate Loan, the period commencing on the
date of such Borrowing or the date such Eurodollar Rate Loan is converted to or continued as a
Eurodollar Rate Loan and ending on the date seven days, fourteen days, one month, two months, three
months or six months thereafter, as selected by the Borrower in its Revolving Credit Loan Notice or
such other period that is twelve months or less requested by the Borrower and consented to by all
the Revolving Credit Lenders; provided that:

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

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

17

 

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

     “IRS” means the United States Internal Revenue Service.

     “ISP” means, with respect to any Letter of Credit, the “International Standby
Practices 1998” published by the Institute of International Banking Law & Practice, Inc. (or such
later version thereof as may be in effect at the time of issuance).

     “Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit
Application, and any other document, agreement and instrument entered into by the L/C Issuer and
the Borrower (or any Subsidiary) or in favor of the L/C Issuer and relating to such Letter of
Credit.

     “Laws” means, collectively, all international, foreign, Federal, state and local
statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or
judicial precedents or authorities, including the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable administrative orders, directed duties, requests, licenses, authorizations and
permits of, and agreements with, any Governmental Authority, in each case whether or not having the
force of law.

     “L/C Advance” means, with respect to each Revolving Credit Lender, such Revolving
Credit Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable
Revolving Credit Percentage.

     “L/C Borrowing” means an extension of credit resulting from a drawing under any Letter
of Credit which has not been reimbursed on the date as required pursuant to Section 2.03(c)
or refinanced as a Revolving Credit Borrowing.

     “L/C Credit Extension” means, with respect to any Letter of Credit, the issuance
thereof or extension of the expiry date thereof, or the increase of the amount thereof.

     “L/C Issuer” means (i) Bank of America in its capacity as issuer of Letters of Credit
hereunder, or any successor issuer of Letters of Credit hereunder and (ii) any other Lender
appointed as a replacement or additional “L/C Issuer” pursuant to the immediately succeeding
sentence. The Administrative Agent may, with the consent of the Borrower and the Lender in
question, or the Borrower may, with the consent of the Lender in question and notice to the
Administrative Agent, appoint such Lender hereunder as an L/C Issuer in place of or in addition to
Bank of America.

     “L/C Obligations” means, as at any date of determination, the aggregate amount
available to be drawn under all outstanding Letters of Credit plus the aggregate of all
Unreimbursed Amounts, including (without duplication) all L/C Borrowings. For purposes of
computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of
Credit shall be determined in accordance with Section 1.06. For all purposes of this
Agreement, if on any date of determination a Letter of Credit has expired by its terms but any
amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such
Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be
drawn.

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

     “Lender Parties” means the Administrative Agent, L/C Issuer and all Lenders.

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

     “Letter of Credit” means any letter of credit issued at the request of the Borrower
hereunder and shall include the Existing Letters of Credit. A Letter of Credit may be a commercial
letter of credit or a standby letter of credit.

     “Letter of Credit Application” means an application and agreement for the issuance or
amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

     “Letter of Credit Expiration Date” means the day that is seven days prior to the
Maturity Date then in effect for the Revolving Credit Facility (or, if such day is not a Business
Day, the next preceding Business Day).

     “Letter of Credit Fee” has the meaning specified in Section 2.03(h).

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

     “Loan” means a Credit Extension by a Lender to the Borrower under Article II
in the form of a GO Bond Term Loan, a Revolving Credit Loan or a Swing Line Loan.

     “Loan Documents” means this Agreement, each Note, each Issuer Document, any agreement
creating or perfecting rights in Cash Collateral pursuant to the provisions of Section 2.15
of this Agreement, the Fee Letters and any guaranty of the Obligations delivered in connection
herewith.

     “Loan Party” means each of (i) the Borrower and (ii) any Subsidiary of the Borrower
that, at such time, is obligated under or pursuant to a guaranty of the Obligations.

     “London Banking Day” means any day on which dealings in Dollar deposits are conducted
by and between banks in the London interbank eurodollar market.

     “Material Adverse Effect” means (a) a material adverse change in, or a material
adverse effect upon, the operations, business, assets, properties, liabilities (actual or
contingent) or condition (financial or otherwise) of the Borrower and its Subsidiaries taken as a
whole; (b) a material impairment (i) of the rights or remedies of the Administrative Agent or any
Lender

19

 

under any Loan Document or, if the Borrower’s payment obligations under the Borrower Guaranty
are adversely affected thereby, any GO Bond Document, determined without regard to any event,
circumstance or the like that exists or may exist solely by reason of any actions, operations,
activities or status of any Lender or the Administrative Agent, as the case may be; or (ii) of the
ability of (A) the Borrower to perform its obligations under any Loan Document to which it is a
party or (B) if the Borrower’s payment obligations under the Borrower Guaranty are adversely
affected thereby, the GO Bond Issuer to perform its obligations under any GO Bond Document to which
it is a party; or (c) a material adverse effect on the legality, validity, binding effect or
enforceability against (A) the Borrower of any material terms of any Loan Document or (B) if the
Borrower’s payment obligations under the Borrower Guaranty are adversely affected thereby. the GO
Bond Issuer of any material terms of any GO Bond Document to which it is a party.

     “Maturity Date” means (a) with respect to the Revolving Credit Facility, such date
that is five years from the Closing Date, (b) with respect to the GO Bond 2009 Term Facility, the
earlier of (i) the GO Bond Mandatory Put Date and (ii) May 1, 2032, and (c) with respect to the GO
Bond 2010 Term Facility, the earlier of (i) the GO Bond Mandatory Put Date and (ii) August 1, 2035;
provided, however, that if such date in each such case does not satisfy clause (a)
of the definition of “Business Day,” such Maturity Date shall be the next preceding Business Day.

     “Merrill Lynch” means Merrill Lynch, Pierce, Fenner & Smith Incorporated.

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

     “Multiple Employer Plan” means a Plan which has two or more contributing sponsors
(including the Borrower or any ERISA Affiliate) at least two of whom are not under common control
at such times and meeting the requirements of such a plan as described in Section 4064 of ERISA.

     “Notes” means, collectively, the Revolving Credit Notes, the Swing Line Note and the
GO Bonds.

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

     “Operating Lease” means (i) an operating lease under GAAP, (ii) any lease that was
treated as an operating lease under GAAP at the time it was entered into that later becomes a
capital lease as a result of a change in GAAP during the life of such lease, including any

20

 

renewals, and (iii) any lease entered into after the date of this Agreement that would have
been considered an operating lease under the provisions of GAAP in effect as of December 31, 2010.

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

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

     “Outstanding Amount” means (a) with respect to GO Bond Term Loans, Revolving Credit
Loans and Swing Line Loans on any date, the aggregate outstanding principal amount thereof after
giving effect to any borrowings and prepayments, redemptions or repayments of GO Bond Term Loans,
Revolving Credit Loans and Swing Line Loans, as the case may be, occurring on such date; and (b)
with respect to any L/C Obligations on any date, the amount of such L/C Obligations on such date
after giving effect to any L/C Credit Extension occurring on such date and any other changes in the
aggregate amount of the L/C Obligations as of such date, including as a result of any
reimbursements by the Borrower of Unreimbursed Amounts.

     “Outstanding GO Bonds 2009” means the GO Bonds 2009 originally issued by the GO Bond
Issuer in the original aggregate face amount of $100,000,000 and owned by the Borrower as of the
Closing Date, to be purchased by the GO Bond 2009 Term Lenders from the Borrower as provided in
Section 2.01(a)(i).

     “Outstanding GO Bonds 2010” means the GO Bonds 2010 originally issued by the GO Bond
Issuer in the original aggregate face amount of $100,000,000 and owned by the Borrower as of the
Closing Date, to be purchased by the GO Bond 2010 Term Lenders from the Borrower as provided in
Section 2.01(a)(ii).

     “Outstanding GO Bonds” means the Outstanding GO Bonds 2009 and the Outstanding GO
Bonds 2010.

     “PAA” means Plains All American Pipeline, L.P., a Delaware limited partnership.

     “Participant” has the meaning specified in Section 11.06(d).

     “PBGC” means the Pension Benefit Guaranty Corporation.

     “Pension Act” means the Pension Protection Act of 2006.

21

 

     “Pension Funding Rules” means the rules of the Code and ERISA regarding minimum
required contributions (including any installment payment thereof) to Pension Plans and set forth
in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412
of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act and, thereafter,
Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.

     “Pension Plan” means any employee pension benefit plan (including a Multiple Employer
Plan or a Multiemployer Plan) that is maintained or is contributed to by the Borrower and any ERISA
Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards
under Section 412 of the Code.

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

     “Petroleum Products” means crude oil, condensate, natural gas, natural gas liquids
(NGL’s), liquefied petroleum gases (LPG’s), refined petroleum products or any blend thereof.

     “Pine Prairie” means Pine Prairie Energy Center, LLC, a Delaware limited liability
company.

     “Pine Prairie Lease” means, collectively, that certain Agreement to Lease With Option
to Purchase, dated as of May 1, 2006, and that certain Conveyance and Lease Addendum No. 1, dated
as of November 12, 2007, each by and between Industrial Revenue Board No. 1 of the Parish of
Louisiana, Inc. and Pine Prairie.

     “Pine Prairie Storage Facility” means the natural gas storage facility owned by Pine
Prairie and located in Evangeline Parish, Louisiana, which facility includes certain buildings,
equipment, compressors, structures and pipelines located on a salt-dome storage cavern.

     “Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA
(including a Pension Plan), maintained for employees of the Borrower or any ERISA Affiliate or any
such Plan to which the Borrower or any ERISA Affiliate is required to contribute on behalf of any
of its employees.

     “Platform” has the meaning specified in Section 6.02.

     “Principal Property” means, whether owned or leased on the date hereof or hereafter
acquired:

     (a) any Storage Facility, including all storage caverns and reservoirs, injection, compression
and production wells, injection and withdrawal sites and facilities, transportation and gathering
pipelines, treating and processing plants and facilities, compressors and compression units, and
other facilities, equipment and other assets owned or leased by Borrower and its Subsidiaries
employed in the injection, storage, withdrawal, transportation, gathering, terminalling, treating,
processing, distribution, transportation and marketing of natural gas, natural gas liquids, crude
oil and refined petroleum products;

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     (b) all rights, titles, interests and estates in and to oil and gas leases, oil, gas and
mineral leases, or other liquid or gaseous Hydrocarbon leases, and mineral fee interests associated
with the foregoing; and

     (c) all volumes of natural gas stored at any Storage Facility required to remain in such
Storage Facility (“base gas”) in order to provide necessary pressurization sufficient to extract
(i) all third-party natural gas stored therein (“third-party gas”) and (ii) any other volumes of
natural gas owned by the Borrower and its Subsidiaries and stored in such Storage Facility
(“working gas”). For the avoidance of doubt, “Principal Property” shall not include third-party
gas or working gas;

except, in the case of either clause (a) or (b): (i) any such assets consisting of inventories,
furniture, office fixtures and equipment, including data processing equipment, vehicles and
equipment used on, or useful with, vehicles, and (ii) any such asset, plant or terminal (other than
the Bluewater Storage Facility, the Pine Prairie Storage Facility or the Southern Pines Storage
Facility) which, in the good faith opinion of the Board, is not material in relation to the
activities of the Borrower and its Subsidiaries, taken as a whole.

     “Public Lender” has the meaning specified in Section 6.02.

     “Register” has the meaning specified in Section 11.06(c).

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

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

     “Request for Credit Extension” means (a) with respect to a Borrowing, conversion or
continuation of Revolving Credit Loans, a Revolving Credit Loan Notice, (b) with respect to an L/C
Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a
Swing Line Loan Notice.

     “Required Lenders” means, as of any date of determination, Lenders having more than
50% of the sum of the (a) Total Outstandings (with the aggregate amount of each Revolving Credit
Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being
deemed “held” by such Lender in its capacity as a Revolving Credit Lender for purposes of this
definition) and (b) aggregate unused Revolving Credit Commitments; provided that the
Revolving Credit Commitment of, and the portion of the Total Outstandings held or deemed held by,
any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders.

     “Required Revolving Lenders” means, as of any date of determination, Revolving Credit
Lenders having more than 50% of the aggregate Revolving Credit Commitments or, if the commitment of
each Revolving Credit Lender to make Loans and the obligations of the L/C Issuer to make L/C Credit
Extensions have been terminated pursuant to Section 8.02, Revolving Credit Lenders holding
in the aggregate more than 50% of the Total Revolving Credit

23

 

Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation
and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such
Revolving Credit Lender for purposes of this definition); provided that the Revolving
Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed
held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required
Revolving Lenders.

     “Responsible Officer” means the chief executive officer, president, vice president,
chief financial officer, treasurer, assistant treasurer or controller of a Loan Party, or any
general partner thereof or any general partner of any such general partner or any sole member
thereof, as the case may be, solely for purposes of the delivery of incumbency certificates and
other certificates in respect of certain documents to be attached thereto pursuant to Sections
2.14, 4.01 and 4.02, the secretary or any assistant secretary of such Loan
Party, or any general partner thereof or any general partner of any such general partner or any
sole member thereof, as the case may be, and solely for purposes of notices given pursuant to
Article II, any other officer or employee of the Borrower, or any general partner thereof
or any general partner of any such general partner or any sole member thereof, as the case may be,
designated by any of the foregoing officers in a notice to the Administrative Agent. Any document
delivered hereunder that is signed by a Responsible Officer of a Loan Party, or any general partner
thereof or any general partner of any such general partner or any sole member thereof, as the case
may be, shall be conclusively presumed to have been authorized by all necessary corporate,
partnership or other equivalent action on the part of such Loan Party, and such Responsible Officer
shall be conclusively presumed to have acted on behalf of such Loan Party.

     “Restricted Payment” means any dividend or other distribution (whether in cash or
other property, but excluding dividends or other distributions payable in Equity Interests in the
Borrower) with respect to any Equity Interest of the Borrower, or any payment (whether in cash or
other property, but excluding dividends or other distributions payable in Equity Interests in the
Borrower), including any sinking fund or similar deposit, on account of the purchase, redemption,
retirement, acquisition, cancellation or termination for value of any Equity Interest of the
Borrower, or on account of any return of capital to holders of any Equity Interests of the
Borrower.

     “Restricted Person” means any of the Borrower and each Subsidiary of the Borrower, but
excluding, for the avoidance of doubt, Unrestricted Subsidiaries. As of the Closing Date, each of
Bluewater, Pine Prairie and SG Resources are Restricted Persons.

     “Restriction Exception” means (a) any applicable Law or any instrument governing
Indebtedness or Equity Interests, or any applicable Law or any other agreement relating to any
property, assets or operations of a Person whose Equity Interests are acquired, in whole or part,
by a Restricted Person pursuant to an acquisition (whether by merger, consolidation, amalgamation
or otherwise), as such instrument or agreement is in effect at the time of such acquisition (except
with respect to Indebtedness incurred in connection with, or in contemplation of, such
acquisition), or such applicable Law is then or thereafter in effect (as applicable), which is not
applicable to the acquiring Restricted Person, or the property, assets or operations of the
acquiring Restricted Person, other than the acquired Person, or the property, assets or operations
of such acquired Person or such acquired Person’s Subsidiaries; provided that in the case
of

24

 

Indebtedness, the incurrence of such Indebtedness is not prohibited hereunder, (b) provisions
with respect to the disposition or distribution of assets in joint venture agreements or other
similar agreements entered into in the ordinary course of business, (c) (i) a lease, license or
similar contract, which restricts in a customary manner the subletting, assignment, encumbrance or
transfer of any property or asset that is subject thereto or the assignment, encumbrance or
transfer of any such lease, license or other contract, (ii) mortgages, deeds of trust, pledges or
other security instruments, the entry into which does not result in a Default, securing
Indebtedness of a Restricted Person, which restricts the transfer of the property subject to such
mortgages, deeds of trust, pledges or other security instruments, or (iii) customary provisions
restricting disposition of, or encumbrances on, real property interests set forth in any reciprocal
easements of any Restricted Person, (d) restrictions imposed pursuant to this Agreement and the
other Loan Documents, (e) restrictions on the transfer or encumbrance of property or assets which
are imposed by the holder of Liens on property or assets of a Restricted Person, provided
that neither the incurrence of such Lien nor any related Indebtedness results in a Default, (f) any
agreement to, directly or indirectly, sell or otherwise dispose of assets or Equity Interests to
any Person pending the closing of such sale, provided that such sale is consummated in
compliance with any applicable provisions of this Agreement, (g) net worth provisions in leases and
other agreements entered into by any Restricted Person in the ordinary course of business, (h) an
agreement governing Indebtedness incurred to refinance the Indebtedness issued, assumed or incurred
pursuant to an agreement referred to in clauses (d) and (e) above; provided,
however, that the provisions relating to such encumbrance or restriction contained in any
such Indebtedness are no less favorable to such Restricted Person in any material respect as
determined by the Board in its reasonable and good faith judgment than the provisions relating to
such encumbrance or restriction contained in agreements referred to in such clauses (d) and (e);
and (i) Hybrid Securities or an indenture, document, agreement or security entered into or issued
in connection with a Hybrid Security or otherwise constituting a restriction or condition on the
payment of dividends or distributions by an issuer of a Hybrid Security.

     “Revolving Credit Borrowing” means a borrowing consisting of simultaneous Revolving
Credit Loans of the same Type and, in the case of Eurodollar Rate Revolving Credit Loans, having
the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section
2.01(b).

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

     “Revolving Credit Facility” means, at any time, the aggregate amount of the Revolving
Credit Lenders’ Revolving Credit Commitments at such time. The Revolving Credit Facility as of the
Closing Date is $250,000,000.

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     “Revolving Credit Lender” means, at any time, any Lender that has a Revolving Credit
Commitment at such time.

     “Revolving Credit Loan” has the meaning specified in Section 2.01(b).

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

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

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

     “SG Resources” means SG Resources Mississippi, L.L.C., a Delaware limited liability
company.

     “Significant Restricted Persons” means the Borrower and, as of each relevant date of
determination, each other Subsidiary of the Borrower (other than Unrestricted Subsidiaries) that
owns five percent (5%) or more of the Borrower’s Consolidated Net Tangible Assets.

     “Southern Pines Storage Facility” means the natural gas storage facility owned by SG
Resources and located in Greene County, Mississippi and extending into Mobile County, Alabama,
which facility includes certain buildings, equipment, compressors, structures and pipelines located
on a salt-dome storage cavern.

     “Specified Acquisition” means one or more acquisitions of assets or entities or
operating lines or divisions or Equity Interests in any rolling 12-month period, excluding any
acquisitions included in a prior Specified Acquisition, for an aggregate purchase price of not less
than $100,000,000.

     “Specified Equity Offering” means one or more issuances of equity by the Borrower for
aggregate net cash proceeds of not less than fifty percent (50%) of the aggregate purchase price of
the Specified Acquisition.

     “Storage Facilities” means each of the Bluewater Storage Facility, the Pine Prairie
Storage Facility, the Southern Pines Storage Facility and any other gas storage facility from time
to time owned by the Borrower and its Subsidiaries.

     “Subsidiary” of a Person means a corporation, partnership, joint venture, limited
liability company or other business entity of which a majority of the shares of securities or other
interests having ordinary voting power for the election of directors or other governing body (other
than securities or interests having such power only by reason of the happening of a contingency)
are at the time beneficially owned, or the management of which is otherwise controlled, directly,
or indirectly through one or more intermediaries, or both, by such Person; provided,
however, that

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no Unrestricted Subsidiary shall be deemed to be a Subsidiary of any Restricted Person for
purposes of any Loan Document except as provided in Section 7.10 hereof. Unless otherwise
specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary
or Subsidiaries of the Borrower.

     “Supermajority Lenders” means, as of any date of determination, Lenders (or as the
context may require, Lenders directly affected thereby) having more than 75% of the sum of (a)
Total Outstandings (or, with respect to Lenders directly affected thereby, the aggregate
Outstanding Amount of such Lenders) (with the aggregate amount of each Revolving Credit Lender’s
risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed
“held” by such Lender in its capacity as a Revolving Credit Lender for purposes of this definition)
and (b) the aggregate unused Revolving Credit Commitments (or, with respect to Lenders directly
affected thereby, the aggregate unused Revolving Credit Commitments of such Lenders);
provided that the Revolving Credit Commitment of, and the portion of the Total Outstandings
held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a
determination of Supermajority Lenders.

     “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward
commodity contracts, equity or equity index swaps or options, bond or bond price or bond index
swaps or options or forward bond or forward bond price or forward bond index transactions, interest
rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar
transactions, currency swap transactions, cross-currency rate swap transactions, currency options,
spot contracts, or any other similar transactions or any combination of any of the foregoing
(including any options to enter into any of the foregoing), whether or not any such transaction is
governed by or subject to any master agreement, and (b) any and all transactions of any kind, and
the related confirmations, which are subject to the terms and conditions of, or governed by, any
form of master agreement published by the International Swaps and Derivatives Association, Inc.,
any International Foreign Exchange Master Agreement, or any other master agreement (any such master
agreement, together with any related schedules, a “Master Agreement”), including any such
obligations or liabilities under any Master Agreement.

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

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

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

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

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

     “Swing Line Note” means a promissory note made by the Borrower in favor of the Swing
Line Lender evidencing Swing Line Loans made by the Swing Line Lender, substantially in the form of
Exhibit D.

     “Swing Line Sublimit” means an amount equal to the lesser of (a) $20,000,000 and (b)
the Revolving Credit Facility. The Swing Line Sublimit is part of, and not in addition to, the
Revolving Credit Facility.

     “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a
so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or
possession of property creating obligations that do not appear on the balance sheet of such Person
but which, upon the insolvency or bankruptcy of such Person, would be characterized as the
indebtedness of such Person (without regard to accounting treatment); provided,
however, to the extent included in the foregoing, Operating Leases entered into in the
ordinary course of business are excluded therefrom.

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

     “Threshold Amount” means $20,000,000.

     “Total Outstandings” means the aggregate Outstanding Amount of all Loans and all L/C
Obligations.

     “Total Revolving Credit Outstandings” means the aggregate Outstanding Amount of all
Revolving Credit Loans, Swing Line Loans and L/C Obligations.

     “Type” means with respect to a Revolving Credit Loan or a Swing Line Loan, its
character as a Base Rate Loan or a Eurodollar Rate Loan.

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

     “Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i).

     “Unrestricted Subsidiary” has the meaning specified in Section 7.10.

     “Working Capital Borrowing” has the meaning specified in Section 2.02(a).

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

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     (a) The definitions of terms herein shall apply equally to the singular and plural forms of
the terms defined. Whenever the context may require, any pronoun shall include the corresponding
masculine, feminine and neuter forms. The word “or” is not exclusive and the words
“include,” “includes” and “including” shall be deemed to be followed by the
phrase “without limitation.” The word “will” shall be construed to have the same meaning
and effect as the word “shall.” Unless the context requires otherwise, (i) any definition
of or reference to any agreement, instrument or other document (including any Organization
Document) shall be construed as referring to such agreement, instrument or other document as from
time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any
reference herein to any Person shall be construed to include such Person’s successors and permitted
assigns, (iii) the words “hereto,” “herein,” “hereof” and
“hereunder,” and words of similar import when used in any Loan Document, shall be construed
to refer to such Loan Document in its entirety and not to any particular provision thereof, unless
expressly so limited, (iv) all references in a Loan Document to Articles, Sections, Exhibits and
Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to,
the Loan Document in which such references appear, (v) any reference to any law shall include all
statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and
any reference to any law or regulation shall, unless otherwise specified, refer to such law or
regulation as amended, modified or supplemented from time to time, and (vi) the words
“asset” and “property” shall be construed to have the same meaning and effect and
to refer to any and all tangible and intangible assets and properties, including cash, securities,
accounts and contract rights.

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

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

          1.03 Accounting Terms.

     (a) Generally. All accounting terms not specifically or completely defined herein
shall be construed in conformity with, and all financial data (including financial ratios and other
financial calculations) required to be submitted pursuant to this Agreement shall be prepared in
conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a
manner consistent with that used in preparing the Audited Financial Statements, except as
otherwise specifically prescribed herein.

     (b) Changes in GAAP. If at any time any change in GAAP would affect the computation
of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or
the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall
negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof
in light of such change in GAAP (subject to the approval of the Required Lenders); provided
that, until so amended, (i) such ratio or requirement shall continue to be computed in
accordance with GAAP prior to such change therein and (ii) the Borrower shall

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provide to the Administrative Agent financial statements and other documents required under
this Agreement or as reasonably requested hereunder setting forth a reconciliation between
calculations of such ratio or requirement made before and after giving effect to such change in
GAAP.

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

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

          1.06 Letter of Credit Amounts. Unless otherwise specified herein, the amount of a Letter of
Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at
such time; provided, however, that with respect to any Letter of Credit that, by its terms or the
terms of any Issuer Document related thereto, provides for one or more automatic increases in the
stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated
amount of such Letter of Credit after giving effect to all such increases, whether or not such
maximum stated amount is in effect at such time; provided, further, that with
respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related
thereto, provides for one or more automatic reductions in the stated amount thereof, the amount of
such Letter of Credit shall be deemed to be the amount available to be drawn under such Letter of
Credit at such time.

ARTICLE II. THE TERM LOANS, THE REVOLVING CREDIT COMMITMENTS AND CREDIT EXTENSIONS

          2.01 The Loans.

     (a) (i) The GO Bond 2009 Term Borrowing. Subject to the terms and conditions set
forth herein, each GO Bond 2009 Term Lender severally agrees to make a single Credit Extension to
the Borrower on the Closing Date by purchasing at par in cash from the Borrower Outstanding GO
Bonds 2009 in an aggregate face amount not to exceed such GO Bond 2009 Term Lender’s Applicable
Percentage, subject to the tender by the Borrower to the GO Bond Trustee of the Outstanding GO
Bonds 2009 and the reissue by the GO Bond Issuer of GO Bonds 2009 in the name of each GO Bond 2009
Term Lender in accordance with its Applicable Percentage of the GO Bond 2009 Term Facility (each, a
“GO Bond 2009 Term Loan”). The GO Bond 2009 Term Borrowing shall consist of purchases from
the Borrower at par of Outstanding GO Bonds 2009 made simultaneously by the GO Bond 2009 Term
Lenders in accordance with their respective Applicable Percentage of the GO Bond 2009 Term
Facility. Any portion of the Credit Extension made under this Section 2.01(a)(i) that is
repaid or prepaid may not be reborrowed.

         (ii) The GO Bond 2010 Term Borrowing. Subject to the terms and conditions set forth
herein, each GO Bond 2010 Term Lender severally agrees to make a single Credit

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               Extension to the Borrower on the Closing Date by purchasing at par in cash from the Borrower
Outstanding GO Bonds 2010 in an aggregate face amount not to exceed such GO Bond 2010 Term Lender’s
Applicable Percentage, subject to the tender by the Borrower to the GO Bond Trustee of the
Outstanding GO Bonds 2010 and the reissue by the GO Bond Issuer of GO Bonds 2010 in the name of
each GO Bond 2010 Term Lender in accordance with its Applicable Percentage of the GO Bond 2010 Term
Facility (each, a “GO Bond 2010 Term Loan”). The GO Bond 2010 Term Borrowing shall consist
of purchases from the Borrower at par of Outstanding GO Bonds 2010 made simultaneously by the GO
Bond 2010 Term Lenders in accordance with their respective Applicable Percentage of the GO Bond
2010 Term Facility. Any portion of the Credit Extension made under this Section
2.01(a)(ii) that is repaid or prepaid may not be reborrowed. The Series 2010 GO Bonds shall be
treated as a de minimis tax exempt obligation under Section 265(b)(7) of the Code.

               (iii) The GO Bond Term Loans, the GO Bonds and the GO Bond Indentures. The GO Bond
Term Loans shall be deemed to be Eurodollar Rate Loans for all purposes hereunder, and all rights,
remedies, duties and obligations of, and among, the Borrower, the GO Bond Term Lenders and the
Administrative Agent with respect thereto shall be governed hereby; but the GO Bonds shall be
governed in all respects by the GO Bond Indenture pursuant to which such GO Bonds were issued. The
Administrative Agent shall have no duties, liabilities or obligations with respect to the GO Bonds
or the GO Bond Indentures to any holder of any GO Bond or the GO Bond Trustee, whether under or
pursuant to any GO Bond, any GO Bond Indenture or otherwise, except as expressly set forth in and
as agreed to by the Administrative Agent in the GO Bond Indentures.

     (b) Revolving Credit Facility. Subject to the terms and conditions set forth herein,
each Revolving Credit Lender severally agrees to make loans (each such loan, a “Revolving
Credit Loan”) to the Borrower from time to time, on any Business Day during the Availability
Period, in an aggregate principal amount not to exceed at any time outstanding the amount of such
Revolving Credit Lender’s Revolving Credit Commitment; provided, however, that
after giving effect to any Revolving Credit Borrowing, (i) the Total Revolving Credit Outstandings
shall not exceed the Revolving Credit Facility, and (ii) the aggregate Outstanding Amount of the
Revolving Credit Loans of any Revolving Credit Lender, plus such Revolving Credit Lender’s
Applicable Revolving Credit Percentage of the Outstanding Amount of all L/C Obligations,
plus such Revolving Credit Lender’s Applicable Revolving Credit Percentage of the
Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Credit Lender’s
Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit
Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under
this Section 2.01(b), prepay under Section 2.05, and reborrow under this
Section 2.01(b). Revolving Credit Loans may be Base Rate Loans or Eurodollar Rate Loans,
as further provided herein.

          2.02 Borrowings, Conversions and Continuations of Revolving Credit Loans.

     (a) Each Revolving Credit Borrowing, each conversion of Revolving Credit Loans from one Type
to the other and each continuation of Eurodollar Rate Revolving Credit Loans shall be made upon the
Borrower’s irrevocable (subject to Section 3.03) notice to the Administrative Agent, which
may be given by telephone. Each such notice must be received by

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the Administrative Agent not later than 12:00 p.m. (i) two Business Days prior to the
requested date of any Revolving Credit Borrowing of, conversion to or continuation of Eurodollar
Rate Revolving Credit Loans or of any conversion of Eurodollar Rate Revolving Credit Loans to Base
Rate Revolving Credit Loans, (ii) on the requested date of any Revolving Credit Borrowing of Base
Rate Revolving Credit Loans and (iii) on the Closing Date with respect to the GO Bond Term Loans;
provided, however, that if the Borrower wishes to request Eurodollar Rate Revolving
Credit Loans having an Interest Period other than seven days, fourteen days, one month, two months,
three months or six months in duration as provided in the definition of “Interest Period,” the
applicable notice must be received by the Administrative Agent not later than 12:00 p.m. three
Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon
the Administrative Agent (x) shall give prompt notice to the Revolving Credit Lenders of such
request and determine whether the requested Interest Period is acceptable to all such Lenders and
(y) not later than 12:00 p.m., two Business Days before the requested date of such Borrowing,
conversion or continuation, shall notify the Borrower (which notice may be by telephone) whether or
not the requested Interest Period has been consented to by all the Revolving Credit Lenders;
provided, further, if any requested Revolving Credit Borrowing or portion thereof
is to be utilized exclusively for working capital purposes (such Revolving Credit Borrowing or such
portion being called a “Working Capital Borrowing”), the Borrower shall specify in the
Revolving Credit Loan Notice that such Revolving Credit Borrowing or such portion is a Working
Capital Borrowing. In addition, any repayment of a Loan that is intended as a repayment of all or
any part of the outstanding amount of one or more Working Capital Borrowings shall be so identified
to the Administrative Agent at the time of such repayment. Each telephonic notice by the Borrower
pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the
Administrative Agent of a written Revolving Credit Loan Notice, appropriately completed and signed
by a Responsible Officer of the Borrower. Each Revolving Credit Borrowing of, conversion to or
continuation of Eurodollar Rate Revolving Credit Loans shall be in a principal amount of $1,000,000
or a whole multiple of $100,000 in excess thereof. Except as provided in Sections 2.03(c)
and 2.04(c), each Revolving Credit Borrowing of or conversion to Base Rate Revolving Credit
Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof.
Each Revolving Credit Loan Notice (whether telephonic or written) shall specify (i) whether the
Borrower is requesting a Revolving Credit Borrowing, a conversion of Revolving Credit Loans from
one Type to the other, or a continuation of Eurodollar Rate Revolving Credit Loans, (ii) the
requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a
Business Day), (iii) the principal amount of Revolving Credit Loans to be borrowed, converted or
continued, (iv) the Type of Revolving Credit Loans to be borrowed or to which existing Revolving
Credit Loans are to be converted, and (v) if applicable, the duration of the Interest Period with
respect thereto. If the Borrower fails to specify a Type of Revolving Credit Loan in a Revolving
Credit Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or
continuation, then the applicable Revolving Credit Loans shall be made as, or converted to, Base
Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day
of the Interest Period then in effect with respect to the applicable Eurodollar Rate Revolving
Credit Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of
Eurodollar Rate Revolving Credit Loans in any such Revolving Credit Loan Notice, but fails to
specify an Interest Period, it will be deemed to have specified an Interest Period of one month.

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     (b) Following receipt of a Revolving Credit Loan Notice, the Administrative Agent shall
promptly notify each Revolving Credit Lender of the amount of its Applicable Revolving Credit
Percentage of the applicable Revolving Credit Loans, and if no timely notice of a conversion or
continuation is provided by the Borrower, the Administrative Agent shall notify each Revolving
Credit Lender of the details of any automatic conversion to Base Rate Loans described in the
preceding subsection. Each Revolving Credit Lender shall make the amount of its Revolving Credit
Loan available to the Administrative Agent in immediately available funds at the Administrative
Agent’s Office not later than 2:00 p.m. on the Business Day specified in the applicable Revolving
Credit Loan Notice. Upon satisfaction of the applicable conditions set forth in Section
4.02 (and, if such Revolving Credit Borrowing is the initial Credit Extension, Section
4.01), the Administrative Agent shall make all funds so received available to the Borrower in
like funds as received by the Administrative Agent, at the Borrower’s election, either by (i)
crediting the account of the Borrower on the books of Bank of America with the amount of such funds
or (ii) wire transfer of such funds, in each case in accordance with instructions provided to the
Administrative Agent by the Borrower as set forth in the Revolving Credit Loan Notice;
provided, however, that if, immediately prior to delivery by the Borrower of a
Revolving Credit Loan Notice with respect to a Revolving Credit Borrowing, there are L/C Borrowings
outstanding, then the proceeds of such Revolving Credit Borrowing, first, shall be applied
to the payment in full of any such L/C Borrowings, and second, shall be made available to
the Borrower as provided above.

     (c) Upon the occurrence and during the continuation of an Event of Default, no Revolving
Credit Loans may be requested as, converted to or continued as Eurodollar Rate Revolving Credit
Loans without the consent of the Required Revolving Lenders.

     (d) The Administrative Agent shall promptly notify the Borrower and the Revolving Credit
Lenders of the interest rate applicable to any Interest Period for Eurodollar Rate Revolving Credit
Loans upon determination of such interest rate. At any time that Base Rate Loans are outstanding,
the Administrative Agent shall notify the Borrower and the Revolving Credit Lenders of any change
in Bank of America’s prime rate used in determining the Base Rate and the effective date thereof
promptly following the public announcement of such change.

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

       2.03 Letters of Credit.

     (a) The Letter of Credit Commitment.

     (i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in
reliance upon the agreements of the Revolving Credit Lenders set forth in this Section
2.03, (1) from time to time on any Business Day during the period from the Closing Date
until the Letter of Credit Expiration Date, to issue Letters of Credit for the account of
the Borrower, for its use and the use of any of its Subsidiaries, and to amend or extend
Letters of Credit previously issued by it, in accordance with subsection (b)

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below, and (2) to honor drawings under the Letters of Credit; and (B) the Revolving
Credit Lenders severally agree to participate in Letters of Credit issued for the account of
the Borrower, for its use and the use of any of its Subsidiaries and any drawings
thereunder; provided that after giving effect to any L/C Credit Extension with
respect to any Letter of Credit, (y) the Total Revolving Credit Outstandings shall not
exceed the Revolving Credit Facility and (z) the aggregate Outstanding Amount of the
Revolving Credit Loans of any Revolving Credit Lender, plus such Revolving Credit
Lender’s Applicable Revolving Credit Percentage of the Outstanding Amount of all L/C
Obligations, plus such Revolving Credit Lender’s Applicable Revolving Credit
Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving
Credit Lender’s Revolving Credit Commitment. Each request by the Borrower for the issuance
or amendment of a Letter of Credit shall be deemed to be a representation by the Borrower
that the L/C Credit Extension so requested complies with the conditions set forth in the
proviso to the preceding sentence. Within the foregoing limits, and subject to the terms
and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be fully
revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of
Credit to replace Letters of Credit that have expired or that have been drawn upon and
reimbursed. All Existing Letters of Credit shall be deemed to have been issued pursuant
hereto, and from and after the Closing Date shall be subject to and governed by the terms
and conditions hereof.

     (ii) The L/C Issuer shall not issue any Letter of Credit, if:

     (A) subject to Section 2.03(b)(iii), the expiry date of the requested
Letter of Credit would occur more than twelve months after the date of issuance or
last extension, unless the Required Revolving Lenders have approved such expiry
date; or

     (B) the expiry date of the requested Letter of Credit would occur after the
Letter of Credit Expiration Date, unless all the Revolving Credit Lenders have
approved such expiry date.

     (iii) The L/C Issuer shall not be under any obligation to issue any Letter of Credit
if:

     (A) any order, judgment or decree of any Governmental Authority or arbitrator
shall by its terms purport to enjoin or restrain the L/C Issuer from issuing the
Letter of Credit, or any Law applicable to the L/C Issuer or any request or
directive (whether or not having the force of law) from any Governmental Authority
with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer
refrain from, the issuance of letters of credit generally or the Letter of Credit in
particular or shall impose upon the L/C Issuer with respect to the Letter of Credit
any restriction, reserve or capital requirement (for which the L/C Issuer is
entitled to be, but is not so, compensated hereunder) not in effect on the Closing
Date, or shall impose upon the L/C Issuer any loss, cost or expense which was not
applicable on the Closing Date and which the L/C Issuer

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in good faith deems material to it (for which the L/C Issuer is entitled to be,
but is not so, reimbursed hereunder);

     (B) the issuance of the Letter of Credit would violate one or more policies of
the L/C Issuer applicable to letters of credit generally; provided that,
upon request of the Borrower, the L/C Issuer shall provide to the Borrower a
reasonably detailed description thereof;

     (C) except as otherwise agreed by the Administrative Agent and the L/C Issuer,
the Letter of Credit is in an initial stated amount less than $100,000;

     (D) the Letter of Credit is to be denominated in a currency other than Dollars;

     (E) any Revolving Credit Lender is at that time a Defaulting Lender, unless
either (1) the Borrower has delivered to the Administrative Agent Cash Collateral in
an amount equal to such L/C Issuer’s actual Fronting Exposure (after giving effect
to Section 2.16(a)(iv) and any other Cash Collateral provided by such
Defaulting Lender) with respect to such Defaulting Lender or (2) such L/C Issuer has
otherwise entered into arrangements satisfactory to such L/C Issuer (in its sole
discretion) with the Borrower or such Revolving Credit Lender to eliminate such L/C
Issuer’s Fronting Exposure (after giving effect to Section 2.16(a)(iv)) with
respect to such Defaulting Lender, in either case, arising from either the Letter of
Credit then proposed to be issued or that Letter of Credit and all other L/C
Obligations as to which such L/C Issuer has Fronting Exposure, as it may elect in
its sole discretion; or

     (F) the Letter of Credit contains any provisions for automatic reinstatement of
the stated amount after any drawing thereunder.

     (iv) The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be
permitted at such time to issue the Letter of Credit in its amended form under the terms
hereof.

     (v) The L/C Issuer shall be under no obligation to amend any Letter of Credit if (A)
the L/C Issuer would have no obligation at such time to issue the Letter of Credit in its
amended form under the terms hereof, or (B) the beneficiary of the Letter of Credit does not
accept the proposed amendment to the Letter of Credit.

     (vi) The L/C Issuer shall act on behalf of the Revolving Credit Lenders with respect to
any Letters of Credit issued by it and the documents associated therewith, and the L/C
Issuer shall have all of the benefits and immunities (A) to the extent provided to the
Administrative Agent in Article IX with respect to any acts taken or omissions
suffered by the L/C Issuer in connection with Letters of Credit issued by it or proposed to
be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the
term “Administrative Agent” as used in Article IX included the L/C Issuer with
respect to such acts or omissions, and (B) as additionally provided herein with respect to
the L/C Issuer.

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     (b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of
Credit.

     (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the
request of the Borrower delivered to the L/C Issuer (with a copy to the Administrative
Agent) in the form of a Letter of Credit Application, appropriately completed and signed by
a Responsible Officer of the Borrower. Such Letter of Credit Application must be received
by the L/C Issuer and the Administrative Agent not later than 12:00 p.m. at least two
Business Days (or such later date and time as the Administrative Agent and the L/C Issuer
may agree in a particular instance in their sole discretion) prior to the proposed issuance
date or date of amendment, as the case may be. In the case of a request for an initial
issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and
detail reasonably satisfactory to the L/C Issuer: (A) the proposed issuance date of the
requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the
expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents
to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of
any certificate to be presented by such beneficiary in case of any drawing thereunder; (G)
the purpose and nature of the requested Letter of Credit; and (H) such other matters as the
L/C Issuer may reasonably require. In the case of a request for an amendment of any
outstanding Letter of Credit, such Letter of Credit Application shall specify in form and
detail reasonably satisfactory to the L/C Issuer (A) the Letter of Credit to be amended; (B)
the proposed date of amendment thereof (which shall be a Business Day); (C) the nature of
the proposed amendment; and (D) such other matters as the L/C Issuer may reasonably require.
Additionally, the Borrower shall furnish to the L/C Issuer and the Administrative Agent
such other documents and information pertaining to such requested Letter of Credit issuance
or amendment, including any Issuer Documents, as the L/C Issuer or the Administrative Agent
may reasonably require.

     (ii) Promptly after receipt of any Letter of Credit Application, the L/C Issuer will
confirm with the Administrative Agent (by telephone or in writing) that the Administrative
Agent has received a copy of such Letter of Credit Application from the Borrower and, if
not, the L/C Issuer will provide the Administrative Agent with a copy thereof. Unless the
L/C Issuer has received written notice from the Administrative Agent (who hereby agrees to
provide contemporaneous notice to the Borrower) or any Loan Party, at least one Business Day
prior to the requested date of issuance or amendment of the applicable Letter of Credit,
that one or more applicable conditions contained in Section 4.02 shall not then be
satisfied, specifying in reasonable detail the relevant condition or conditions not then
satisfied, and the basis for such assertion, and such condition or conditions, as
applicable, remain unsatisfied on such requested date of issuance or amendment, then,
subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date,
issue a Letter of Credit for the account of the Borrower (or the applicable Subsidiary) or
enter into the applicable amendment, as the case may be, in each case in accordance with the
L/C Issuer’s usual and customary business practices. Immediately upon the issuance of each
Letter of Credit, each Revolving Credit Lender shall be deemed to, and hereby irrevocably
and unconditionally agrees to, purchase from the L/C Issuer a risk participation in such
Letter of Credit in an amount equal to the

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product of such Revolving Credit Lender’s Applicable Percentage times the
amount of such Letter of Credit.

     (iii) If the Borrower so requests in any applicable Letter of Credit Application, the
L/C Issuer may, in its sole and absolute discretion, agree to issue a Letter of Credit that
has automatic extension provisions (each, an “Auto-Extension Letter of Credit”);
provided that any such Auto-Extension Letter of Credit must permit the L/C Issuer to
prevent any such extension at least once in each twelve-month period (commencing with the
date of issuance of such Letter of Credit) by giving written prior notice to the beneficiary
thereof not later than a day (the “Non-Extension Notice Date”) in each such
twelve-month period to be agreed upon between the Borrower and the L/C Issuer at the time
such Letter of Credit is issued. The L/C Issuer of any Auto-Extension Letter of Credit
hereby agrees to contemporaneously furnish to the Borrower a copy of any denial of the
extension of such Auto-Extension Letter of Credit. Unless otherwise directed by the L/C
Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer for
any such extension. Once an Auto-Extension Letter of Credit has been issued, the Revolving
Credit Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to
permit the extension of such Letter of Credit at any time to an expiry date not later than
the Letter of Credit Expiration Date; provided, however, that the L/C Issuer
shall not permit any such extension if (A) the L/C Issuer has determined that it would not
be permitted, or would have no obligation, at such time to issue such Letter of Credit in
its revised form (as extended) under the terms hereof (by reason of the provisions of clause
(ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which
may be by telephone or in writing) on or before the day that is seven Business Days before
the Non-Extension Notice Date (1) from the Administrative Agent (who hereby agrees to
provide contemporaneous notice to the Borrower) that the Required Revolving Lenders have
elected not to permit such extension or (2) from the Administrative Agent (who hereby agrees
to provide contemporaneous notice to the Borrower) or the Borrower that one or more of the
applicable conditions specified in Section 4.02 is not then satisfied, specifying in
reasonable detail the relevant condition or conditions not then satisfied, and such
condition or conditions, as applicable, are unsatisfied on such extension date, and the
basis for such assertion, and in each such case directing the L/C Issuer not to permit such
extension.

     (iv) Promptly after its delivery of any Letter of Credit or any amendment to a Letter
of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C
Issuer will also deliver to the Borrower and the Administrative Agent a true and complete
copy of such Letter of Credit or amendment.

     (c) Drawings and Reimbursements; Funding of Participations.

     (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a
drawing under such Letter of Credit, the L/C Issuer shall notify the Borrower and the
Administrative Agent thereof. If the L/C Issuer shall give notice to the Borrower prior to
12:00 p.m. on the date of any payment by such L/C Issuer under a Letter of Credit (each such
date, an “Honor Date”), the Borrower shall reimburse the L/C Issuer through the
Administrative Agent in an amount equal to the amount of such drawing (and if the L/C

37

 

Issuer shall give notice to the Borrower at or after such time, the Borrower shall
reimburse the L/C Issuer by such time on the following Business Day). If the Borrower fails
to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify
each Revolving Credit Lender of the Honor Date, the amount of the unreimbursed drawing (the
“Unreimbursed Amount”), and the amount of such Revolving Credit Lender’s Applicable
Revolving Credit Percentage thereof. In such event, the Borrower shall be deemed to have
requested a Revolving Credit Borrowing of Base Rate Loans to be disbursed on the Honor Date
in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples
specified in Section 2.02 for the principal amount of Base Rate Loans, but subject
to the amount of the unutilized portion of the Revolving Credit Facility and the conditions
set forth in Section 4.02 (other than the delivery of a Revolving Credit Loan Notice
and without giving effect to the Borrower’s failure to so reimburse the L/C Issuer as
provided in this Section 2.03(c)(i)). Any notice given by the L/C Issuer or the
Administrative Agent pursuant to this Section 2.03(c)(i) may be given by telephone
if immediately confirmed in writing; provided that the lack of such an immediate
confirmation shall not affect the conclusiveness or binding effect of such notice.

     (ii) Each Revolving Credit Lender shall, upon any notice pursuant to Section
2.03(c)(i) prior to 12:00 p.m., make funds available (and the Administrative Agent may
apply Cash Collateral provided for this purpose) for the account of the L/C Issuer at the
Administrative Agent’s Office in an amount equal to its Applicable Revolving Credit
Percentage of the Unreimbursed Amount not later than 2:00 p.m. on the Business Day specified
in such notice by the Administrative Agent (and, if such notice pursuant to Section
2.03(c)(i) is at or after 12:00 p.m., each such Revolving Credit Lender shall make such
funds available not later than 2:00 p.m. on the following Business Day), whereupon, subject
to the provisions of Section 2.03(c)(iii), each Revolving Credit Lender that so
makes funds available shall be deemed to have made a Base Rate Revolving Credit Loan to the
Borrower in such amount. The Administrative Agent shall remit the funds so received to the
L/C Issuer.

     (iii) With respect to any Unreimbursed Amount that is not fully refinanced by a
Revolving Credit Borrowing of Base Rate Loans because the conditions set forth in
Section 4.02 (other than the delivery of a Revolving Credit Loan Notice and without
giving effect to the Borrower’s failure to reimburse the L/C Issuer as provided in
Section 2.03(c)(i)) cannot be satisfied or because the L/C Issuer’s notice pursuant
to Section 2.03(c)(i) is at or after 12:00 p.m. or for any other reason, the
Borrower shall be deemed to have incurred from the L/C Issuer an L/C Borrowing in the amount
of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and
payable on the second Business Day following the corresponding Honor Date (together with
interest) and shall bear interest on the amount thereof from time to time outstanding at the
Base Rate in effect from time to time, and if not repaid by 12:00 p.m. on such second
succeeding Business Day, shall thereafter bear interest on the amount thereof from time to
time outstanding at the Default Rate. In such event, each Revolving Credit Lender’s payment
to the Administrative Agent for the account of the L/C Issuer pursuant to Section
2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C

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Borrowing and shall constitute an L/C Advance from such Revolving Credit Lender in
satisfaction of its participation obligation under this Section 2.03.

     (iv) Until each Revolving Credit Lender funds its Revolving Credit Loan or L/C Advance
pursuant to this Section 2.03(c) to reimburse the L/C Issuer for any amount drawn
under any Letter of Credit, interest in respect of such Revolving Credit Lender’s Applicable
Revolving Credit Percentage of such amount shall be solely for the account of the L/C
Issuer.

     (v) Each Revolving Credit Lender’s obligation to make Revolving Credit Loans or L/C
Advances to reimburse the L/C Issuer for amounts drawn under Letters of Credit, as
contemplated by this Section 2.03(c), shall be absolute and unconditional and shall
not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment,
defense or other right which such Revolving Credit Lender may have against the L/C Issuer,
the Borrower or any other Person for any reason whatsoever; (B) the occurrence or
continuance of a Default, or (C) any other occurrence, event or condition, whether or not
similar to any of the foregoing; provided, however, that each Revolving
Credit Lender’s obligation to make Revolving Credit Loans pursuant to this Section
2.03(c) is subject to the conditions set forth in Section 4.02 (other than
delivery by the Borrower of a Revolving Credit Loan Notice and without giving effect to the
Borrower’s failure to so reimburse the L/C Issuer as provided in this Section
2.03(c)(i)). No such making of an L/C Advance shall relieve or otherwise impair the
obligation of the Borrower to reimburse the L/C Issuer for the amount of any payment made by
the L/C Issuer under any Letter of Credit, together with interest as provided herein.

     (vi) If any Revolving Credit Lender fails to make available to the Administrative Agent
for the account of the L/C Issuer any amount required to be paid by such Revolving Credit
Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time
specified in Section 2.03(c)(ii), then, without limiting the other provisions of
this Agreement, the L/C Issuer shall be entitled to recover from such Revolving Credit
Lender (acting through the Administrative Agent), on demand, such amount with interest
thereon for the period from the date such payment is required to the date on which such
payment is immediately available to the L/C Issuer at a rate per annum equal to the greater
of the Federal Funds Rate and a rate determined by the L/C Issuer in accordance with banking
industry rules on interbank compensation, plus any administrative, processing or similar
fees customarily charged by the L/C Issuer in connection with the foregoing. If such
Revolving Credit Lender pays such amount (with interest and fees as aforesaid), the portion
thereof equal to such Revolving Credit Lender’s Applicable Revolving Credit Percentage of
the Unreimbursed Amount shall constitute such Revolving Credit Lender’s Revolving Credit
Loan included in the relevant Revolving Credit Borrowing or L/C Advance in respect of the
relevant L/C Borrowing, as the case may be. A certificate of the L/C Issuer submitted to
any Revolving Credit Lender (through the Administrative Agent) with respect to any amounts
owing under this clause (vi) shall be conclusive absent manifest error.

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     (d) Repayment of Participations.

     (i) At any time after the L/C Issuer has made a payment under any Letter of Credit and
has received from any Revolving Credit Lender such Revolving Credit Lender’s L/C Advance in
respect of such payment in accordance with Section 2.03(c), if the Administrative
Agent receives for the account of the L/C Issuer any payment in respect of the related
Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise,
including proceeds of Cash Collateral applied thereto by the Administrative Agent), the
Administrative Agent will distribute to such Revolving Credit Lender its Applicable
Revolving Credit Percentage thereof (appropriately adjusted, in the case of interest
payments, to reflect the period of time during which such Revolving Credit Lender’s L/C
Advance was outstanding) in the same funds as those received by the Administrative Agent.

     (ii) If any payment received by the Administrative Agent for the account of the L/C
Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the
circumstances described in Section 11.05 (including pursuant to any settlement
entered into by the L/C Issuer in its discretion), each Revolving Credit Lender shall pay to
the Administrative Agent for the account of the L/C Issuer its Applicable Revolving Credit
Percentage thereof on demand of the Administrative Agent, plus interest thereon from the
date of such demand to the date such amount is returned by such Revolving Credit Lender, at
a rate per annum equal to the Federal Funds Rate from time to time in effect. The
obligations of the Revolving Credit Lenders under this clause shall survive the payment in
full of the Obligations and the termination of this Agreement.

     (e) Obligations Absolute. The obligation of the Borrower to reimburse the L/C Issuer
for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute,
unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this
Agreement under all circumstances, including the following:

     (i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or
any other Loan Document;

     (ii) the existence of any claim, counterclaim, setoff, defense or other right that the
Borrower or any Subsidiary may have at any time against any beneficiary or any transferee of
such Letter of Credit (or any Person for whom any such beneficiary or any such transferee
may be acting), the L/C Issuer or any other Person, whether in connection with this
Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement
or instrument relating thereto, or any unrelated transaction;

     (iii) any draft, demand, certificate or other document presented under such Letter of
Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any
statement therein being untrue or inaccurate in any respect; or any loss or delay in the
transmission or otherwise of any document required in order to make a drawing under such
Letter of Credit;

40

 

     (iv) any payment by the L/C Issuer under such Letter of Credit against presentation of
a draft or certificate that does not strictly comply with the terms of such Letter of
Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person
purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of
creditors, liquidator, receiver or other representative of or successor to any beneficiary
or any transferee of such Letter of Credit, including any arising in connection with any
proceeding under any Debtor Relief Law; or

     (v) any other circumstance or happening whatsoever, whether or not similar to any of
the foregoing, including any other circumstance that might otherwise constitute a defense
available to, or a discharge of, the Borrower or any Subsidiary.

     The Borrower shall promptly examine a copy of each Letter of Credit requested by it and each
amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the
Borrower’s instructions or other irregularity, the Borrower will promptly notify the L/C Issuer and
the L/C Issuer will correct such claim in conformity with the Borrower’s instructions or as
otherwise agreed between the Borrower and the L/C Issuer, subject to the terms hereof. The
Borrower shall be conclusively deemed to have waived any such claim against the L/C Issuer and its
correspondents unless such notice is given as aforesaid.

     (f) Role of L/C Issuer. Each Revolving Credit Lender and the Borrower agree that, in
paying any drawing under a Letter of Credit, the L/C Issuer shall not have any responsibility to
obtain any document (other than any sight draft, certificates and documents expressly required by
the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such
document or the authority of the Person executing or delivering any such document. None of the L/C
Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent,
participant or assignee of the L/C Issuer shall be liable to any Revolving Credit Lender for (i)
any action taken or omitted in connection herewith at the request or with the approval of the
Revolving Credit Lenders or the Required Revolving Lenders, as applicable; (ii) any action taken or
omitted in the absence of gross negligence or willful misconduct; or (iii) the due execution,
effectiveness, validity or enforceability of any document or instrument related to any Letter of
Credit or Issuer Document. The Borrower hereby assumes all risks of the acts or omissions of any
beneficiary or transferee with respect to its use of any Letter of Credit; provided,
however, that this assumption is not intended to, and shall not, preclude the Borrower’s
pursuing such rights and remedies as it may have against the beneficiary or transferee at law or
under any other agreement. None of the L/C Issuer, the Administrative Agent, any of their
respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall
be liable or responsible for any of the matters described in clauses (i) through (v) of Section
2.03(e); provided, however, that anything in such clauses to the contrary
notwithstanding, the Borrower may have a claim against the L/C Issuer, and the L/C Issuer may be
liable to the Borrower, to the extent, but only to the extent, of any direct, as opposed to
consequential or exemplary, damages suffered by the Borrower which the Borrower proves were caused
by the L/C Issuer’s willful misconduct, gross negligence or the material breach of any of its
obligations hereunder or under any Issuer Document or under any Letter of Credit issued on the
Borrower’s behalf or the L/C Issuer’s willful failure to pay under any Letter of Credit after the
presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with
the terms and conditions of a Letter of Credit. In furtherance and not in limitation of the
foregoing, the L/C

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Issuer may accept documents that appear on their face to be in order, without responsibility
for further investigation, regardless of any notice or information to the contrary, and the L/C
Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or
assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits
thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective
for any reason.

     (g) Applicability of ISP and UCP. Unless otherwise expressly agreed by the L/C Issuer
and the Borrower when a Letter of Credit is issued, including any such agreement applicable to an
Existing Letter of Credit, (i) the rules of the ISP shall apply to each standby Letter of Credit,
and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently
published by the International Chamber of Commerce at the time of issuance shall apply to each
commercial Letter of Credit.

     (h) Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the
account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit
Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each commercial or
standby Letter of Credit equal to the Applicable Rate times the daily amount available to
be drawn under such Letter of Credit; provided, however, any Letter of Credit Fees
otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to
which such Defaulting Lender or the Borrower has not provided Cash Collateral satisfactory to the
L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted
by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments
in their respective Applicable Revolving Credit Percentages allocable to such Letter of Credit
pursuant to Section 2.16(a)(iv), with the balance of such fee, if any, payable to the L/C
Issuer for its own account. For purposes of computing the daily amount available to be drawn under
any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.06. Such Letter of Credit Fees shall be (i) due and payable on the first
Business Day after the end of each March, June, September and December, commencing with the first
such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration
Date and thereafter on demand and (ii) computed on a quarterly basis in arrears. If there is any
change in the Applicable Rate during any quarter, the daily amount available to be drawn under each
standby Letter of Credit shall be computed and multiplied by the Applicable Rate separately for
each period during such quarter that such Applicable Rate was in effect.

     (i) Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The
Borrower shall pay directly to the L/C Issuer for its own account a fronting fee (i) with respect
to each commercial Letter of Credit, at the rate specified in the Fee Letter among the Borrower,
the Administrative Agent and Merrill Lynch, computed on the amount of such Letter of Credit, and
payable upon the issuance thereof, and (ii) with respect to each standby Letter of Credit, at the
rate per annum specified in the Fee Letter among the Borrower, the Administrative Agent, and
Merrill Lynch, computed on the daily amount available to be drawn under such Letter of Credit on a
quarterly basis in arrears. Such fronting fee with respect to standby Letters of Credit shall be
due and payable on the tenth Business Day after the end of each March, June, September and December
in respect of the most recently-ended quarterly period (or portion thereof, in the case of the
first payment), commencing with the first such date to occur after the issuance of such Letter of
Credit, on the Letter of Credit Expiration Date and thereafter on

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demand. For purposes of computing the daily amount available to be drawn under any Letter of
Credit, the amount of such Letter of Credit shall be determined in accordance with Section
1.06. In addition, the Borrower shall pay directly to the L/C Issuer for its own account the
customary issuance, presentation, amendment and other processing fees, and other standard costs and
charges, of the L/C Issuer relating to letters of credit as from time to time in effect, effective
schedules of which will be provided to the Borrower upon its request. Such customary fees and
standard costs and charges are due and payable quarterly in arrears on the first Business Day after
the end of each March, June, September and December and are nonrefundable.

     (j) Conflict with Issuer Documents. In the event of any conflict between the terms
hereof and the terms of any Issuer Document, the terms hereof shall control.

     (k) Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of
Credit is issued or outstanding hereunder is in support of any obligations of a Subsidiary, the
Borrower (and not any such Subsidiary) that requested such Letter of Credit shall be obligated to
reimburse the L/C Issuer hereunder for any and all drawings under such Letter of Credit requested
by it. The Borrower hereby acknowledges that the issuance of Letters of Credit requested by it in
support of the obligations of any of its Subsidiaries inures to the benefit of the Borrower, and
that the Borrower’s business derives benefits from the business of such Subsidiary.

       2.04 Swing Line Loans.

     (a) The Swing Line. Subject to the terms and conditions set forth herein, the Swing
Line Lender agrees, in reliance upon the agreements of the other Revolving Credit Lenders set forth
in this Section 2.04, to make loans (each such loan, a “Swing Line Loan”) to the
Borrower from time to time on any Business Day during the Availability Period in an aggregate
amount not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding
the fact that such Swing Line Loans, when aggregated with the Applicable Revolving Credit
Percentage of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Lender
acting as Swing Line Lender, may exceed the amount of such Revolving Credit Lender’s Revolving
Credit Commitment; provided, however, that after giving effect to any Swing Line
Loan, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility,
and (ii) the aggregate Outstanding Amount of the Revolving Credit Loans of any Revolving Credit
Lender, plus such Revolving Credit Lender’s Applicable Revolving Credit Percentage of the
Outstanding Amount of all L/C Obligations, plus such Revolving Credit Lender’s Applicable
Revolving Credit Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such
Revolving Credit Lender’s Revolving Credit Commitment, and provided, further, that
the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing
Line Loan. Within the foregoing limits, and subject to the other terms and conditions hereof, the
Borrower may borrow under this Section 2.04, prepay under Section 2.05, and
reborrow under this Section 2.04. Swing Line Loans may be either Base Rate Loans or
Eurodollar Rate Loans. Immediately upon the making of a Swing Line Loan to the Borrower, each
Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to,
purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal
to the product of such Revolving Credit Lender’s Applicable Revolving Credit Percentage
times the amount of such Swing Line Loan.

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     (b) Borrowing Procedures. Each Swing Line Borrowing shall be made upon the Borrower’s
irrevocable notice to the Swing Line Lender and the Administrative Agent, which may be given by
telephone. Each such notice must be received by the Swing Line Lender and the Administrative Agent
not later than 1:00 p.m. on the requested borrowing date, and shall specify (i) the amount to be
borrowed, which shall be a minimum of $1,000,000, (ii) whether such Swing Line Loan is a Base Rate
Loan or a Eurodollar Rate Loan (and if a Eurodollar Rate Loan, either (x) the applicable Interest
Period thereof or (y) that the daily floating Eurodollar Rate provided in clause (b) of the
definition thereof shall apply) and (iii) the requested borrowing date, which shall be a Business
Day. Each such telephonic notice must be confirmed promptly by delivery to the Swing Line Lender
and the Administrative Agent of a written Swing Line Loan Notice, appropriately completed and
signed by a Responsible Officer of the Borrower. Promptly after receipt by the Swing Line Lender
of any telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the
Administrative Agent (by telephone or in writing) that the Administrative Agent has also received
such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the Administrative Agent
(by telephone or in writing) of the contents thereof. Unless the Swing Line Lender has received
notice (by telephone or in writing) from the Administrative Agent prior to 2:00 p.m. on the date of
the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make such Swing Line
Loan as a result of the limitations set forth in the first proviso to the first sentence of
Section 2.04(a), or (B) that it believes in good faith that one or more of the applicable
conditions specified in Section 4.02 is not then satisfied, specifying in reasonable detail
the relevant condition or conditions not then satisfied and the basis for such assertion, and such
condition or conditions, as applicable, remain unsatisfied on such requested date of issuance or
amendment, then, subject to the terms and conditions hereof, the Swing Line Lender will, not later
than 3:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make the amount of
its Swing Line Loan available to the Borrower, at the Borrower’s election, either by (i) crediting
the account of the Borrower on the books of Bank of America with the amount of such funds or (ii)
wire transfer of such funds, in each case in accordance with instructions provided to the
Administrative Agent by the Borrower as set forth in the Swing Line Loan Notice.

     (c) Refinancing of Swing Line Loans.

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

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available with respect to the applicable Swing Line Loan) for the account of the Swing
Line Lender at the Administrative Agent’s Office not later than 2:00 p.m. on the day
specified in such Revolving Credit Loan Notice, whereupon, subject to Section
2.04(c)(ii), each Revolving Credit Lender that so makes funds available shall be deemed
to have made a Base Rate Revolving Credit Loan to the Borrower in such amount. The
Administrative Agent shall remit the funds so received to the Swing Line Lender.

     (ii) If for any reason any Swing Line Loan cannot be refinanced by such a Revolving
Credit Borrowing in accordance with Section 2.04(c)(i) or pursuant to a Borrowing
requested in accordance with Section 2.02, as the case may be, the request for Base
Rate Revolving Credit Loans submitted by the Swing Line Lender as set forth herein shall be
deemed to be a request by the Swing Line Lender that each of the Revolving Credit Lenders
fund its risk participation in the relevant Swing Line Loan and each Revolving Credit
Lender’s payment to the Administrative Agent for the account of the Swing Line Lender
pursuant to Section 2.04(c)(i) shall be deemed payment in respect of such
participation.

     (iii) If any Revolving Credit Lender fails to make available to the Administrative
Agent for the account of the Swing Line Lender any amount required to be paid by such
Revolving Credit Lender pursuant to the foregoing provisions of this Section 2.04(c)
by the time specified in Section 2.04(c)(i), the Swing Line Lender shall be entitled
to recover from such Revolving Credit Lender (acting through the Administrative Agent), on
demand, such amount with interest thereon for the period from the date such payment is
required to the date on which such payment is immediately available to the Swing Line Lender
at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by
the Swing Line Lender in accordance with banking industry rules on interbank compensation,
plus any administrative, processing or similar fees customarily charged by the Swing Line
Lender in connection with the foregoing. If such Revolving Credit Lender pays such amount
(with interest and fees as aforesaid), the portion thereof equal to such Revolving Credit
Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall
constitute such Revolving Credit Lender’s Revolving Credit Loan included in the relevant
Revolving Credit Borrowing or funded participation in the relevant Swing Line Loan, as the
case may be. A certificate of the Swing Line Lender submitted to any Revolving Credit
Lender (through the Administrative Agent) with respect to any amounts owing under this
clause (iii) shall be conclusive absent manifest error.

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

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relieve or otherwise impair the obligation of the Borrower to repay Swing Line Loans,
together with interest as provided herein.

     (d) Repayment of Participations.

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

     (ii) If any payment received by the Swing Line Lender in respect of principal or
interest on any Swing Line Loan is required to be returned by the Swing Line Lender under
any of the circumstances described in Section 11.05 (including pursuant to any
settlement entered into by the Swing Line Lender in its discretion), each Revolving Credit
Lender shall pay to the Swing Line Lender its Applicable Revolving Credit Percentage thereof
on demand of the Administrative Agent, plus interest thereon from the date of such demand to
the date such amount is returned, at a rate per annum equal to the Federal Funds Rate. The
Administrative Agent will make such demand upon the request of the Swing Line Lender. The
obligations of the Revolving Credit Lenders under this clause shall survive the payment in
full of the Obligations and the termination of this Agreement.

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

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

       2.05 Prepayments.

     (a) The Borrower may, upon notice to the Administrative Agent, at any time or from time to
time voluntarily prepay Revolving Credit Loans in whole or in part without premium or penalty;
provided that (i) such notice must be received by the Administrative Agent not later than
12:00 p.m. (A) two Business Days prior to any date of prepayment of Eurodollar Rate Revolving
Credit Loans and (B) on the date of prepayment of Base Rate Revolving Credit Loans; (ii) any
prepayment of Eurodollar Rate Revolving Credit Loans shall be in a principal amount of $2,500,000
or a whole multiple of $250,000 in excess thereof; and (iii) any prepayment of Base Rate Revolving
Credit Loans shall be in a principal amount of $250,000 or a whole multiple of $50,000 in excess
thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each such
notice shall specify the date and amount of such prepayment and the

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Type(s) of Revolving Credit Loans to be prepaid and, if Eurodollar Rate Revolving Credit Loans
are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly
notify each Revolving Credit Lender of its receipt of each such notice, and of the amount of such
Revolving Credit Lender’s Applicable Revolving Credit Percentage of such prepayment. If such
notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount
specified in such notice shall be due and payable on the date specified therein; provided,
that a notice of prepayment delivered by the Borrower may state that such notice is conditioned
upon the effectiveness of other credit facilities or the closing of a securities offering, and the
receipt of proceeds thereunder, in which case such notice may be revoked by the Borrower (by notice
to the Administrative Agent on or prior to the specified effective date) if such conditions are not
satisfied. Subject to Section 2.16, each such prepayment shall be applied to the Revolving
Credit Loans of the Revolving Credit Lenders in accordance with their respective Applicable
Percentages; provided, the Revolving Credit Lenders hereby agree that the proceeds of any
prepayment of any Revolving Credit Loan during the continuance of an Event of Default shall be
shared ratably among all Lenders in accordance with Section 2.13. The GO Bond Term Loans
may from time to time be voluntarily prepaid in whole or in part, without premium or penalty,
pursuant to a voluntary redemption by the GO Bond Issuer of the GO Bonds in whole or in part, or by
a mandatory redemption thereof, prior to their maturity, in each case pursuant to the terms of the
GO Bond Indentures; provided, the GO Bond Term Lenders hereby agree that the proceeds of
any redemption of any GO Bond received by any GO Bond Term Lender during the continuance of an
Event of Default shall be shared ratably among all Lenders in accordance with Section 2.13.
Any prepayment of a Eurodollar Rate Loan, including any GO Bond Term Loan pursuant to the
redemption of any GO Bond in whole or part prior to its maturity, shall be accompanied by all
accrued interest on the amount prepaid, together with any additional amounts required pursuant to
Section 3.05.

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

     (c) If for any reason the Total Revolving Credit Outstandings at any time exceed the Revolving
Credit Facility then in effect, the Borrower shall immediately upon demand prepay Revolving Credit
Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess;
provided, however, that the Borrower shall not be required to Cash Collateralize
the L/C Obligations pursuant to this Section 2.05(c) unless after the prepayment in full of
the Revolving Credit Loans and Swing Line Loans the Total Revolving Credit Outstandings exceed the
Revolving Credit Facility then in effect.

     (d) For an economically meaningful period of time in each fiscal year of the Borrower, as
reasonably determined by General Partner, the aggregate outstanding principal balance of all
Working Capital Borrowings shall be reduced to a relatively small amount as may be reasonably
specified by General Partner.

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     2.06 Termination or Reduction of Revolving Credit Commitments. The Borrower may, upon notice
to the Administrative Agent, terminate the Revolving Credit Facility, or from time to time
permanently reduce the Revolving Credit Facility; provided that (i) any such notice shall be
received by the Administrative Agent not later than 12:00 p.m. two Business Days prior to the date
of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of
$1,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not
terminate or reduce the Revolving Credit Facility if, after giving effect thereto and to any
concurrent prepayments hereunder, the Total Revolving Credit Outstandings would exceed the
Revolving Credit Facility, and (iv) if, after giving effect to any reduction of the Revolving
Credit Facility or the Swing Line Sublimit exceeds the amount of the Revolving Credit Facility,
then the Swing Line Sublimit shall be automatically reduced by the amount of such excess. The
Administrative Agent will promptly notify the Revolving Credit Lenders of any such notice of
termination or reduction of the Revolving Credit Facility. The amount of any such reduction of the
Revolving Credit Facility shall not be applied to the Swing Line Sublimit unless otherwise
specified by the Borrower. Any reduction of the Revolving Credit Facility shall be applied to the
Revolving Credit Commitment of each Revolving Credit Lender according to its Applicable Percentage.
All fees accrued until the effective date of any termination of the Revolving Credit Facility
shall be paid on the effective date of such termination.

       2.07 Repayment of Loans. (a) The Borrower shall repay to the Revolving Credit Lenders on
the Maturity Date for the Revolving Credit Facility the aggregate principal amount of Revolving
Credit Loans outstanding on such date.

     (b) The Borrower shall repay each Swing Line Loan on the earlier to occur of (i) the date ten
Business Days after such Loan is made and (ii) the Maturity Date for the Revolving Credit Facility.

     (c) The Borrower hereby irrevocably covenants and agrees that (i) on the GO Bond Mandatory Put
Date, and (ii) upon the occurrence and during the continuance of an Event of Default, at the
request of Required Lenders in conjunction with the simultaneous termination and acceleration of
the Revolving Credit Facility as provided in Section 8.02(b), each GO Bond Term Lender
shall have the indefeasible right to and each such GO Bond Lender may exercise such right to put to
the Borrower, and the Borrower shall repurchase in cash from each such GO Bond Term Lender, all
outstanding GO Bonds owned by such GO Bond Term Lender, at par plus accrued and unpaid interest
thereon (collectively, the “GO Bond Put Right”), subject to the tender at such time of such
GO Bonds to the Borrower by such GO Bond Term Lender and without recourse or warranty, other than
each such GO Bond Term Lender’s representation and warranty that such GO Bond Term Lender is the
sole owner and holder of such GO Bonds so tendered and has good title thereto and full right, power
and authority to transfer such GO Bonds so tendered to the Borrower.

       2.08 Interest. (a) (a) Subject to the provisions of subsection (b) below, (i) each
Eurodollar Rate Revolving Credit Loan shall bear interest on the outstanding principal amount
thereof for each
Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period
plus the Applicable Rate; (ii) each Base Rate Revolving Credit Loan shall bear interest on
the outstanding principal amount thereof from the applicable borrowing date at a rate per annum
equal to the Base Rate plus the Applicable Rate; (iii) each Eurodollar Rate Loan that is a
Swing

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Line Loan shall bear interest on the outstanding principal amount thereof for each Interest
Period at a rate per annum equal to the daily floating Eurodollar Rate provided for in clause (b)
of the definition thereof for such Interest Period plus the Applicable Rate; and (iv) each
Base Rate Loan that is a Swing Line Loan shall bear interest on the outstanding principal amount
thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus
the Applicable Rate. All GO Bond Term Loans shall bear interest in accordance with interest
payable on the GO Bonds purchased with respect thereto as provided in such GO Bonds and the GO
Bonds Indenture pursuant to which such GO Bonds are issued and governed, which as of the Closing
Date generally provide that interest on the outstanding principal amount of (x) the GO Bonds 2009
shall accrue at a rate per annum equal to 75% of the sum of (I) the one-month Eurodollar Rate,
redetermined by the Administrative Agent as of the first day of each calendar month, plus (II) the
Applicable Rate and (y) the GO Bonds 2010 shall accrue at a rate per annum equal to 67% of the sum
of (I) the one-month Eurodollar Rate, redetermined by the Administrative Agent as of the first day
of each calendar month, plus (II) the Applicable Rate.

     (b) (i) If any amount of principal of any Loan is not paid when due (without regard to any
applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount
shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the
Default Rate to the fullest extent permitted by applicable Laws.

     (ii) If any amount (other than principal of any Loan) payable by the Borrower under any
Loan Document is not paid when due, whether at stated maturity, by acceleration or
otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear
interest at a fluctuating interest rate per annum at all times equal to the Default Rate to
the fullest extent permitted by applicable Laws.

     (iii) During any Default Rate Period, the Borrower shall pay interest on the principal
amount of all outstanding Obligations hereunder other than the GO Bond Term Loans at a
fluctuating interest rate per annum at all times equal to the Default Rate to the fullest
extent permitted by applicable Laws, and interest on the outstanding principal amount of the
GO Bonds shall accrue interest at the Default Rate (as defined in each of the GO Bond
Indentures) as provided in the GO Bond Indentures.

     (iv) Accrued and unpaid interest on past due amounts (including interest on past due
interest) shall be due and payable upon demand.

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

       2.09 Fees. In addition to certain fees described in subsections (h) and (i) of Section
2.03:

     (a) Revolving Credit Commitment Fee. The Borrower shall pay to the Administrative
Agent for the account of each Revolving Credit Lender in accordance with its

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Applicable Revolving
Credit Percentage, a commitment fee equal to the Applicable Rate times the actual daily
amount by which the Revolving Credit Facility exceed the sum of (i) the Outstanding Amount of
Revolving Credit Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as
provided in Section 2.16. The commitment fee shall accrue at all times during the
Availability Period, including at any time during the Availability Period during which one or more
of the conditions in Section 4.02 is not met, and shall be due and payable quarterly in
arrears on the last Business Day of each March, June, September and December, commencing with the
first such date to occur after the Closing Date, and on the last day of the Availability Period.
The commitment fee shall be calculated quarterly in arrears, and if there is any change in the
Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the
Applicable Rate separately for each period during such quarter that such Applicable Rate was in
effect.

     (b) Other Fees. (i) The Borrower shall pay to the Arrangers and the Administrative
Agent for their own respective accounts fees in the amounts and at the times specified in their
respective Fee Letters. Such fees shall be fully earned when paid and shall not be refundable for
any reason whatsoever, except as expressly set forth therein.

     (ii) The Borrower shall pay to the Lenders such fees as shall have been separately
agreed upon between the Borrower and the Administrative Agent and/or Lenders, as the case
may be, in writing in the amounts and at the times so specified. Such fees shall be fully
earned when paid and shall not be refundable for any reason whatsoever, except as expressly
agreed to in writing.

       2.10 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate. (a) All
computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to
the Eurodollar Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be,
and actual days elapsed. All other computations of fees and interest shall be made on the basis of
a 360-day year and actual days elapsed (which results in more fees or interest, as applicable,
being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan
for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for
the day on which the Loan or such portion is paid, provided that any Loan that is repaid on
the same day on which it is made shall, subject to Section 2.12(a), bear interest for one
day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be
conclusive and binding for all purposes, absent manifest error.

     (b) If, prior to the delivery of any Compliance Certificate pursuant to Section
6.02(a), as a result of any restatement of or other adjustment to the financial statements of
the Borrower or for any other reason, the Borrower or the Lenders determine that (i) the
Consolidated Leverage Ratio as calculated by the Borrower pursuant to the most recently delivered
Compliance Certificate was inaccurate and (ii) a proper calculation of the Consolidated
Leverage Ratio would have resulted in higher pricing for such period, the Borrower shall
immediately and retroactively be obligated to pay to the Administrative Agent for the account of
the applicable Lenders or the L/C Issuer, as the case may be, promptly on demand by the
Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief
with respect to the Borrower under the Bankruptcy Code of the United States, automatically and
without further action by the Administrative Agent, any Lender or the L/C Issuer), an amount equal
to the excess

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of the amount of interest and fees that should have been paid for such period over
the amount of interest and fees actually paid for such period. This paragraph shall not limit the
rights of the Administrative Agent, any Lender or the L/C Issuer, as the case may be, under
Section 2.03(c)(iii), 2.03(h) or 2.08(b) or under Article VIII.
The Borrower’s obligations under this paragraph shall survive the termination of the Revolving
Credit Facility but shall terminate upon the repayment of all other Obligations hereunder.

       2.11 Evidence of Debt.

     (a) The GO Bond Term Loans shall be evidenced by the GO Bonds purchased by such GO Bond Term
Loans, and other Credit Extensions made by each Lender shall be evidenced by one or more accounts
or records maintained by such Lender and by the Administrative Agent in the ordinary course of
business. The accounts or records maintained by the Administrative Agent and each Lender shall be
conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the
Borrower and the interest and payments thereon. Any failure to so record or any error in doing so
shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any
amount owing on the payment Obligations. In the event of any conflict between the accounts and
records maintained by any Lender and the accounts and records of the Administrative Agent in
respect of such matters, the accounts and records of the Administrative Agent shall control in the
absence of manifest error. Upon the request of any Lender made through the Administrative Agent,
the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a
Revolving Credit Note and/or a Swing Line Note, as applicable, which shall evidence such Lender’s
Loans in addition to such accounts or records. Any request by a GO Bond Term Lender for a GO Bond
evidencing such GO Bond Term Lender’s GO Bond Term Loan shall be made to the GO Bond Issuer
pursuant to and as may be governed by the applicable GO Bond Indenture. Each Revolving Credit
Lender and Swing Line Lender may attach schedules to its Note and endorse thereon the date, Type
(if applicable), amount and maturity of its Loans and payments with respect thereto.

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

       2.12 Payments Generally; Administrative Agent’s Clawback.

     (a) General. All payments to be made by the Borrower shall be made without condition
or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly
provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent,
for the account of the respective Lenders to which such payment is owed, at the Administrative
Agent’s Office in Dollars and in immediately available funds not later than 2:00 p.m. on the date
specified herein. The Administrative Agent will promptly distribute to each Lender its Applicable
Percentage in respect of the relevant Facility (or other applicable

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share as provided herein) of
such payment in like funds as received by wire transfer to such Lender’s Lending Office. All
payments received by the Administrative Agent after 2:00 p.m. shall be deemed received on the next
succeeding Business Day and any applicable interest or fee shall continue to accrue. If any
payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall
be made on the next following Business Day, and such extension of time shall be reflected in
computing interest or fees, as the case may be. All payments to be made on the GO Bonds shall be
made at such times and to such Persons as set forth in the applicable GO Bond Indenture and shall
be governed thereby for all purposes, but shall be subject to Sections 2.05(a) and
2.13 to the extent applicable.

     (b) (i) Funding by Lenders; Presumption by Administrative Agent. Unless the
Administrative Agent shall have received notice from a Revolving Credit Lender prior to the
proposed date of any Revolving Credit Borrowing of Eurodollar Rate Loans (or, in the case of any
Revolving Credit Borrowing of Base Rate Loans, prior to 1:00 p.m. on the date of such Revolving
Credit Borrowing) that such Revolving Credit Lender will not make available to the Administrative
Agent such Revolving Credit Lender’s share of such Revolving Credit Borrowing, the Administrative
Agent may assume that such Revolving Credit Lender has made such share available on such date in
accordance with Section 2.02 (or, in the case of a Revolving Credit Borrowing of Base Rate
Loans, that such Revolving Credit Lender has made such share available in accordance with and at
the time required by Section 2.02) and may, in reliance upon such assumption, make
available to the Borrower a corresponding amount. In such event, if a Revolving Credit Lender has
not in fact made its share of the applicable Revolving Credit Borrowing available to the
Administrative Agent, then the applicable Revolving Credit Lender and the Borrower severally agree
to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately
available funds with interest thereon, for each day from and including the date such amount is made
available to the Borrower to but excluding the date of payment to the Administrative Agent, at (A)
in the case of a payment to be made by such Revolving Credit Lender, the greater of the Federal
Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry
rules on interbank compensation, plus any administrative, processing or similar fees customarily
charged by the Administrative Agent in connection with the foregoing, and (B) in the case of a
payment to be made by the Borrower, the interest rate applicable to Base Rate Loans. If the
Borrower and such Revolving Credit Lender shall pay such principal or interest to the
Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly
remit to the Borrower the amount of such principal and interest paid by the Borrower for such
period. If such Revolving Credit Lender pays its share of the applicable Revolving Credit
Borrowing to the Administrative Agent, then the amount so paid (excluding interest and fees as
aforesaid) shall constitute such Lender’s Revolving Credit Loan included in such Revolving Credit
Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may
have against a Revolving Credit Lender that shall have failed to make such payment to the
Administrative Agent.

     (ii) Payments by Borrower; Presumptions by Administrative Agent. Unless the
Administrative Agent shall have received notice from the Borrower prior to the date on which
any payment is due to the Administrative Agent for the account of the Lenders or the L/C
Issuer hereunder that the Borrower will not make such payment, the Administrative Agent may
assume that the Borrower has made such payment on such date in accordance herewith and may,
in reliance upon such assumption, distribute to the

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Appropriate Lenders or the L/C Issuer,
as the case may be, the amount due. In such event, if the Borrower has not in fact made
such payment, then each of the Appropriate Lenders or the L/C Issuer, as the case may be,
severally agrees to repay to the Administrative Agent forthwith on demand the amount so
distributed to such Lender or the L/C Issuer, in immediately available funds with interest
thereon, for each day from and including the date such amount is distributed to it to but
excluding the date of payment to the Administrative Agent, at the greater of the Federal
Funds Rate and a rate determined by the Administrative Agent in accordance with banking
industry rules on interbank compensation.

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

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

     (d) Obligations of Lenders Several. The obligations of the Lenders hereunder to make
the GO Bond Term Loans and Revolving Credit Loans, to fund participations in Letters of Credit and
Swing Line Loans and to make payments pursuant to Section 11.04(d) are several and not
joint. The failure of any Lender to make any Loan, to fund any such participation or to make any
payment under Section 11.04(d) on any date required hereunder shall not relieve any other
Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible
for the failure of any other Lender to so make its Loan, to purchase its participation or to make
its payment under Section 11.04(d).

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

       2.13 Sharing of Payments by Lenders. Subject to Section 11.08 with respect to a
Defaulting Lender, if any Lender shall, by exercising any right of setoff or counterclaim or
otherwise, obtain payment in respect of (a) Obligations in respect of any the Facilities due and
payable to such Lender hereunder and under the other Loan Documents or GO Bond Obligations due and
payable under the GO Bond Documents at such time in excess of its ratable share (according to the
proportion of (i) the amount of such Obligations and GO Bond Obligations due
and payable to such Lender at such time to (ii) the aggregate amount of the Obligations and GO
Bond Obligations in respect of the Facilities due and payable to all Lenders hereunder and under
the other Loan Documents and GO Bond Documents at such time) of payments on account of the
Obligations in respect of the Facilities due and payable to all Lenders hereunder and under the
other Loan Documents and GO Bond Obligations due and payable under the GO Bond Documents at such
time obtained by all the Lenders at such time or (b) Obligations in respect of

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any of the
Facilities owing (but not due and payable) to such Lender hereunder and under the other Loan
Documents or GO Bond Obligations owing (but not due and payable) to such Lender under the GO Bond
Documents at such time in excess of its ratable share (according to the proportion of (i) the
amount of such Obligations and such GO Bond Obligations owing (but not due and payable) to such
Lender at such time to (ii) the aggregate amount of the Obligations in respect of the Facilities
owing (but not due and payable) to all Lenders hereunder and under the other Loan Parties at such
time) of payment on account of the Obligations in respect of the Facilities and GO Bond
Obligations owing (but not due and payable) to all Lenders hereunder and under the other Loan
Documents and GO Bond Documents at such time obtained by all of the Lenders at such time, then the
Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact,
and (b) purchase (for cash at face value) participations in the Loans and subparticipations in L/C
Obligations and Swing Line Loans of the other Lenders and GO Bonds held by the other Lenders, or
make such other adjustments as shall be equitable, so that the benefit of all such payments shall
be shared by the Lenders ratably in accordance with the aggregate amount of Obligations in respect
of the Facilities and GO Bond Obligations then due and payable to the Lenders or owing (but not due
and payable) to the Lenders, as the case may be, provided that:

     (i) if any such participations or subparticipations are purchased and all or any
portion of the payment giving rise thereto is recovered, such participations or
subparticipations shall be rescinded and the purchase price restored to the extent of such
recovery, without interest;

     (ii) the provisions of this Section shall not be construed to apply to (x) any payment
made by or on behalf of the Borrower pursuant to and in accordance with the express terms of
this Agreement (including the application of funds arising from the existence of a
Defaulting Lender), (y) the application of Cash Collateral provided for in Section
2.15, or (z) any payment obtained by a Lender as consideration for the assignment of or
sale of a participation in any of its Loans or subparticipations in L/C Obligations or Swing
Line Loans to any permitted assignee or participant, other than an assignment to the
Borrower or any Subsidiary thereof (as to which the provisions of this Section shall apply);
and

     (iii) any GO Bond Term Lender, that has not elected to exercise the GO Bond Put Right
pursuant to Section 2.07(c) shall not be entitled to share in any payments made with
respect to other GO Bonds or the Revolving Credit Facility.

     The Borrower consents to the foregoing and agrees, to the extent it may effectively do so
under applicable law, that any Lender acquiring a participation pursuant to the foregoing
arrangements may exercise against the Borrower rights of setoff and counterclaim with respect to
such participation as fully as if such Lender were a direct creditor of the Borrower in the
amount of such participation.

       2.14 Increase in Revolving Credit Commitments.

     (a) Request for Increase. Provided there exists no Default, upon (i) notice to the
Administrative Agent (which shall promptly notify the Revolving Credit Lenders) and (ii)

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substantially contemporaneous notice (with copy thereof to the Administrative Agent) to Eligible
Assignees not then Revolving Credit Lenders (each such Eligible Assignee, a “Proposed Revolving
Credit Lender”), the Borrower shall have the right promptly to effectuate from time to time and
at any time, in accordance with the terms hereof, an increase in the aggregate amount of the then
Revolving Credit Facility provided that (y) the aggregate amount of the Revolving Credit
Facility as so increased shall not at any time exceed $450,000,000, and (z) each such increase
shall be in a minimum amount of $50,000,000. At the time of sending such notices, the Borrower (in
consultation with the Administrative Agent) shall specify the time period within which each
Revolving Credit Lender and Proposed Revolving Credit Lender is requested to respond (which shall
in no event be less than five Business Days from the date of delivery of such notice to the
Revolving Credit Lenders, and which may be extended upon agreement by the Borrower and the
Administrative Agent).

     (b) Revolving Credit Lender Elections to Increase. Each Revolving Credit Lender shall
promptly notify the Administrative Agent and the Borrower within such time period whether or not it
agrees to increase the amount of its Revolving Credit Commitment and, if so, whether by an amount
equal to, greater than, or less than its Applicable Percentage (as it existed immediately prior to
such proposed increase) and the amount of such proposed increase. Each Proposed Revolving Credit
Lender shall promptly notify the Administrative Agent and the Borrower within such time period
whether or not it agrees to participate in such increased amount of the Revolving Credit Facility,
and at what amount it proposes to participate in such increased amount. Any Revolving Credit
Lender or Proposed Revolving Credit Lender not responding within such time period shall be deemed
to have declined to increase its Revolving Credit Commitment, or participate in the increase in the
aggregate amount of the Revolving Credit Facility, as the case may be.

     (c) Effective Date and Allocations. If the aggregate amount of the Revolving Credit
Facility is increased in accordance with this Section 2.14, the Administrative Agent and
the Borrower shall promptly thereafter determine the effective date thereof (the “Increase
Effective Date”) and the final allocation of such increase, and the Administrative Agent shall
promptly notify the Borrower and the Revolving Credit Lenders (including Proposed Revolving Credit
Lenders that have agreed to participate in such increase) of the final allocation of such increase
and the Increase Effective Date.

     (d) Conditions to Effectiveness of Increase. As conditions precedent to each
increase, (i) the Borrower shall deliver to the Administrative Agent a certificate of each Loan
Party dated as of the applicable Increase Effective Date, signed by a Responsible Officer of such
Loan Party, (y) certifying and attaching the resolutions adopted by such Loan Party authorizing
or consenting to such increase, as the case may be, and (z) in the case of the Borrower,
certifying that, immediately before and after giving effect to such increase, (A) the
representations and warranties of the Loan Parties contained in Article V of this Agreement
and the other Loan Documents are true and correct in all material respects on and as of such
applicable Increase Effective Date, except to the extent that such representations and warranties
specifically refer to an earlier date, in which case they are true and correct in all material
respects as of such earlier date, and except that for purposes of this Section 2.14, the
representations and warranties contained in Section 5.05(a) and (b) shall be deemed
to refer to the most recent statements furnished pursuant to clauses (a) and (b),
respectively, of Section 6.01, and (B) no Default or

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Event of Default exists, and (ii) each
Proposed Revolving Credit Lender that is becoming a Revolving Credit Lender shall (y) be subject to
the reasonable approval of the Administrative Agent , the L/C Issuer and the Swing Line Lender,
which approvals shall not be unreasonably withheld, delayed or conditioned, and (z) execute and
deliver a joinder agreement in form and substance reasonably satisfactory to the Administrative
Agent, the L/C Issuer, the Swing Line Lender and the Borrower. The Borrower shall prepay any
Revolving Credit Loans outstanding on such applicable Increase Effective Date (and pay any
additional amounts required pursuant to Section 3.05) to the extent necessary to keep the
outstanding Revolving Credit Loans ratable with the Applicable Revolving Credit Percentages
resulting from any non-ratable increase in the amount of the Revolving Credit Facility under this
Section 2.14 and in effect after giving effect thereto.

     (e) Conflicting Provisions. This Section shall supersede any provisions in
Section 2.13 or 11.01 to the contrary.

       2.15 Cash Collateral.

     (a) Certain Credit Support Events. Within one Business Day following the written
request of the Administrative Agent or the L/C Issuer (i) if the L/C Issuer has honored any full or
partial drawing request under any Letter of Credit and such drawing has resulted in an L/C
Borrowing that remains outstanding for more than two Business Days, then the Borrower shall deliver
(or cause to be delivered) to the Administrative Agent Cash Collateral in an amount equal to such
L/C Borrowing, or (ii) if, as of the Letter of Credit Expiration Date, any L/C Obligation for any
reason remains outstanding, then the Borrower shall deliver (or cause to be delivered) to the
Administrative Agent Cash Collateral in an amount equal to the aggregate amount of all such L/C
Obligations. At any time that there shall exist a Defaulting Lender, within one Business Day
following the written request of the L/C Issuer or the Swing Line Lender, the Borrower shall
deliver (or cause to be delivered) to the Administrative Agent Cash Collateral in an amount equal
to the Fronting Exposure (after giving effect to Section 2.16(a)(iv) and any Cash
Collateral provided by the Defaulting Lender).

     (b) Grant of Security Interest. All Cash Collateral (other than credit support not
constituting funds subject to deposit) shall be maintained in blocked, interest bearing deposit
accounts at Bank of America. The Borrower, and to the extent provided by any Revolving Credit
Lender, such Revolving Credit Lender, hereby grants to (and subjects to the control of) the
Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuer and the Revolving
Credit Lenders (including the Swing Line Lender), and agrees to maintain, a first priority security
interest in all such cash, deposit accounts and all balances therein, and all other
property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all
as security for the obligations to which such Cash Collateral may be applied pursuant to
Section 2.15(c). If at any time the Administrative Agent reasonably determines that (i)
Cash Collateral is subject to any right or claim of any Person (other than a claim of a nature
residual to the claim of the Administrative Agent) other than the Administrative Agent as herein
provided, or (ii) the total amount of such Cash Collateral is less than the applicable Fronting
Exposure (and, following the Letter of Credit Expiration Date, all outstanding L/C Obligations),
the Borrower or the relevant Defaulting Lender will, promptly within one Business Day following
written demand by the Administrative Agent, remit or provide to the Administrative Agent additional

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Cash Collateral (x) not subject to any such right or claim or (y) in an amount sufficient to
eliminate such deficiency.

     (c) Application. Notwithstanding anything to the contrary contained in this
Agreement, but subject to subsection (d) below, Cash Collateral provided under any of this
Section 2.15 or Sections 2.03, 2.04, 2.05, 2.16 or
8.02 in respect of Letters of Credit or Swing Line Loans shall be held and applied to the
satisfaction of the specific L/C Obligations, Swing Line Loans and obligations to fund
participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any
interest accrued on such obligation), prior to any other application of such property as may be
provided for herein.

     (d) Release. Cash Collateral (or the appropriate portion thereof) provided to reduce
Fronting Exposure (and, following the Letter of Credit Expiration Date, to secure all outstanding
L/C Obligations) shall be released promptly following (i) the elimination of the applicable
Fronting Exposure (or, following the Letter of Credit Expiration Date, all secured L/C Obligations)
(including by the termination of Defaulting Lender status of the applicable Revolving Credit Lender
(or, as appropriate, its assignee following compliance with Section 11.06(b)(vi))) or the
expiration of the applicable Letter of Credit, as the case may be, or (ii) the Administrative
Agent’s good faith determination that there exists excess Cash Collateral; provided,
however, (x) that Cash Collateral furnished by or on behalf of a Loan Party shall not be released
during the continuance of a Default or Event of Default (and following application as provided in
this Section 2.15 may, during the continuance of an Event of Default, be otherwise applied
in accordance with Section 8.03), and (y) the Person providing Cash Collateral and the L/C
Issuer or Swing Line Lender, as applicable, may agree that Cash Collateral shall not be released
but instead held to support future anticipated Fronting Exposure or other obligations, and any such
future Fronting Exposure shall be reduced by the amount so held.

       2.16 Defaulting Lenders. (a) (a) Adjustments. Notwithstanding anything to the
contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such
time as that Lender is no longer a Defaulting Lender, to the extent not prohibited by applicable
Law:

     (i) Waivers and Amendments. That Defaulting Lender’s right to approve or
disapprove any amendment, waiver or consent with respect to this Agreement shall be
restricted as set forth in Section 11.01.

     (ii) Reallocation of Payments. Any payment of principal, interest, fees or
other amounts received by the Administrative Agent for the account of that Defaulting Lender
(whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise,
and including any amounts made available to the Administrative Agent by that Defaulting
Lender pursuant to Section 11.08), shall, following application by Administrative
Agent of any such payment by or on behalf of a Loan Party to the account of such Defaulting
Lender with respect to such Obligation paid (and in lieu of being distributed to such
Defaulting Lender pursuant to Section 2.12(a) or such other provision of this
Agreement applicable with respect to the distribution thereof), be applied at such time or
times as may be determined by the Administrative Agent as follows: first, to the payment of
any amounts owing by that Defaulting Lender to the Administrative Agent

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hereunder; second,
to the payment on a pro rata basis of any amounts owing by that Defaulting Lender to the L/C
Issuer or Swing Line Lender hereunder; third, if so determined by the Administrative Agent
or requested by the L/C Issuer or Swing Line Lender (and after giving effect to Section
2.16(a)(iv) and any Cash Collateral then held), to be held as Cash Collateral for
Fronting Exposure with respect to such Defaulting Lender; fourth, as the Borrower may
request (so long as no Default or Event of Default exists), to the funding of any Loan in
respect of which that Defaulting Lender has failed to fund its portion thereof as required
by this Agreement, or, so long as the amount of the Cash Collateral at such time is equal to
the actual Fronting Exposure at such time, to substitute for and release to the Borrower on
a dollar-for-dollar basis, Cash Collateral previously provided by the Borrower with respect
to the applicable Defaulting Lender (subject to documentation in form and substance
reasonably satisfactory to the Administrative Agent and the applicable L/C Issuer or the
Swing Line Lender, as applicable, and such substituted amounts otherwise satisfying the
requirements to constitute Cash Collateral hereunder); fifth, if so determined by the
Administrative Agent and the Borrower, to be held in an interest bearing deposit account and
released pro rata in order to (y) satisfy obligations of that Defaulting Lender to fund
Loans under this Agreement or (z) Cash Collateralize the L/C Issuers’ future Fronting
Exposure with respect to future Letters of Credit issued under this Agreement in accordance
with Section 2.16; sixth, to the payment of any amounts owing to the Lenders, the
L/C Issuer or Swing Line Lender hereunder or as a result of any judgment of a court of
competent jurisdiction obtained by any Lender, the L/C Issuer or Swing Line Lender against
that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations
under this Agreement; seventh, to the payment of any amounts owing to any Loan Party
hereunder or as a result of any judgment of a court of competent jurisdiction obtained by
such Loan Party against that Defaulting Lender as a result of that Defaulting Lender’s
breach of its obligations under this Agreement; and eighth, to that Defaulting Lender or as
otherwise directed by a court of competent jurisdiction; provided that, with respect
to this clause eighth, if (x) such payment is a payment of the principal amount of any Loans
or L/C Borrowings in respect of which that Defaulting Lender has not fully funded its
appropriate share and (y) such Loans or L/C Borrowings were made at a time when the
conditions set forth in Section 4.02 were satisfied or waived, such payment shall be
applied solely to pay the Loans of, and L/C Borrowings owed to, all respective
non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any
Loans of, or L/C Borrowings owed to, that Defaulting Lender. Any payments, prepayments or
other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay
amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section
2.16(a)(ii) shall be deemed paid to and redirected by that Defaulting Lender, and each
Lender irrevocably consents hereto.

     (iii) Certain Fees. That Defaulting Lender (x) shall not be entitled to
receive any commitment fee pursuant to Section 2.09(a) for any period during which
that Lender is a Defaulting Lender and (y) shall be limited in its rights to receive Letter
of Credit Fees as provided in Section 2.03(h) and, in each case, the Borrower shall
not be required to pay to the Administrative Agent for the account of the Defaulting Lender
or the Defaulting Lender any such fee, and no such fees shall accrue for the account of the

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Defaulting Lender, that otherwise would have been required to have been paid to that
Defaulting Lender.

     (iv) Reallocation of Applicable Revolving Credit Percentages to Reduce Fronting
Exposure. During any period in which there is a Revolving Credit Lender that is a
Defaulting Lender, for purposes of computing the amount of the obligation of each Revolving
Credit Lender that is not a Defaulting Lender to acquire, refinance or fund participations
in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04,
the “Applicable Percentage” of each such non-Defaulting Lender shall be computed without
giving effect to the Revolving Credit Commitment of any Defaulting Lender; provided,
that, (A) each such reallocation shall be given effect only if (x) on the date the
applicable Revolving Credit Lender becomes a Defaulting Lender, no Default or Event of
Default has occurred and is continuing, or (y) if a Default or Event of Default occurred and
was continuing on such date, on a subsequent Business Day no Default or Event of Default has
occurred and is continuing, and (B) the aggregate obligation of each such non-Defaulting
Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line
Loans shall not exceed the positive difference, if any, of (1) the Revolving Credit
Commitment of such non-Defaulting Lender minus (2) the aggregate Outstanding Amount
of the Revolving Credit Loans of such non-Defaulting Lender.

     (b) Defaulting Lender Cure. If the Borrower, the Administrative Agent, Swing Line
Lender and the L/C Issuer agree in writing in their sole discretion that a Defaulting Lender should
no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties
hereto, whereupon as of the effective date specified in such notice and subject to any conditions
set forth therein (which may include arrangements with respect to any Cash Collateral and
reimbursement of costs and expenses to each Loan Party), that Revolving Credit Lender will, to the
extent applicable, purchase that portion of outstanding Revolving Credit Loans of the other
Revolving Credit Lenders or take such other actions as the Administrative Agent may determine to be
necessary to cause the Revolving Credit Loans and funded and unfunded participations in Letters of
Credit and Swing Line Loans to be held on a pro rata basis by the Revolving Credit Lenders in
accordance with their Applicable Revolving Credit Percentages (without giving effect to Section
2.16(a)(iv)), whereupon that Revolving Credit Lender will cease to be a Defaulting Lender;
provided that no adjustments will be made retroactively with respect to fees accrued or
payments made by or on behalf of any Loan Party while that Revolving Credit Lender was a Defaulting
Lender; and provided, further, that except to the extent otherwise expressly agreed
by the affected parties, no change hereunder from Defaulting Lender to Revolving Credit Lender
will constitute a waiver or release of any claim of any party hereunder arising from that
Revolving Credit Lender’s having been a Defaulting Lender.

     (c) Rights and Remedies against a Defaulting Lender. The Borrower may replace any
Defaulting Lender in accordance with Section 11.13. The rights and remedies against, and
with respect to, a Defaulting Lender under this Section 2.16 are in addition to, and
cumulative and not in limitation of, all other rights and remedies that each of the Administrative
Agent, the L/C Issuers, the Lenders and the Loan Parties may, at any time, have against, or with
respect to, such Defaulting Lender.

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       ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY

       3.01 Taxes.

     (a) Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. (i)
Any and all payments by or on account of any obligation of the Borrower hereunder or under any
other Loan Document shall to the extent permitted by applicable Laws be made free and clear of and
without reduction or withholding for any Taxes. If, however, applicable Laws require the Borrower
or the Administrative Agent to withhold or deduct any Tax, such Tax shall be withheld or deducted
in accordance with such Laws as determined by the Borrower or the Administrative Agent, as the case
may be, upon the basis of the information and documentation to be delivered pursuant to subsection
(e) below.

     (ii) If the Borrower or the Administrative Agent shall be required by the Code to
withhold or deduct any Taxes, including both United States Federal backup withholding and
withholding taxes, from any payment by or on account of any obligation of the Borrower
hereunder or under any other Loan Document, then (A) the Administrative Agent shall withhold
or make such deductions as are determined by the Administrative Agent to be required based
upon the information and documentation it has received pursuant to subsection (e) below, (B)
the Administrative Agent shall timely pay the full amount withheld or deducted to the
relevant Governmental Authority in accordance with the Code, and (C) to the extent that the
withholding or deduction is made on account of Indemnified Taxes or Other Taxes, the sum
payable by the Borrower shall be increased as necessary so that after any required
withholding or the making of all required deductions (including deductions applicable to
additional sums payable under this Section) the Administrative Agent, Lender or L/C Issuer,
as the case may be, receives an amount equal to the sum it would have received had no such
withholding or deduction been made.

     (b) Payment of Other Taxes by the Borrower. Without limiting the provisions of
subsection (a) above, the Borrower shall timely pay any Other Taxes arising from payments required
to be made by it hereunder or from its execution and delivery of, or performance by it of, or
otherwise with respect to its obligations under, any Loan Document to which it is a party and
imposed thereon under applicable Law to the relevant Governmental Authority in accordance with
applicable Laws.

     (c) Tax Indemnifications. (i) Without limiting the provisions of subsection (a) or
(b) above, the Borrower shall, and does hereby, indemnify the Administrative Agent, each Lender and
the L/C Issuer, and shall make payment in respect thereof within 10 Business Days after demand
therefor, for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes
or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) paid
by the Administrative Agent, such Lender or the L/C Issuer, as the case may be, and any penalties,
interest and reasonable expenses arising therefrom or with respect thereto, whether or not such
Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority. The Borrower shall also, and does hereby, indemnify the Administrative
Agent, and shall make payment in respect thereof within 10 days after demand therefor, for any
amount which a Lender or the L/C Issuer (other than a Lender or

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L/C Issuer that is an affiliate of
the Administrative Agent) for any reason fails to pay indefeasibly to the Administrative Agent as
required by clause (ii) of this subsection. A certificate as to the amount of any such payment or
liability delivered to the Borrower by a Lender or the L/C Issuer (with a copy to the
Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or
the L/C Issuer, shall be conclusive absent manifest error. However, neither the Administrative
Agent, any Lender, nor the L/C Issuer shall be entitled to receive any payment with respect to
Indemnified Taxes or Other Taxes that are incurred or accrued more than 180 days prior to the date
the Administrative Agent, such Lender, or the L/C Issuer gives notice and demand thereof to the
Borrower.

     (ii) Without limiting the provisions of subsection (a) or (b) above, each Lender and the
L/C Issuer shall, and does hereby, indemnify the Borrower and the Administrative Agent, and
shall make payment in respect thereof within 10 days after demand therefor, against any and
all Taxes and any and all related losses, claims, liabilities, penalties, interest and
expenses (including the reasonable fees, charges and disbursements of any counsel for the
Borrower or the Administrative Agent) incurred by or asserted against the Borrower or the
Administrative Agent by any Governmental Authority as a result of the failure by such Lender
or the L/C Issuer, as the case may be, to deliver, or as a result of the inaccuracy,
inadequacy or deficiency of, any documentation required to be delivered by such Lender or
the L/C Issuer, as the case may be, to the Borrower or the Administrative Agent pursuant to
subsection (e). Each Lender and the L/C Issuer hereby authorizes the Administrative Agent
to set off and apply any and all amounts at any time owing to such Lender or the L/C Issuer,
as the case may be, under this Agreement or any other Loan Document against any amount due
to the Administrative Agent under this clause (ii). The agreements in this clause (ii)
shall survive the resignation and/or replacement of the Administrative Agent, any assignment
of rights by, or the replacement of, a Lender or the L/C Issuer, the termination of the
Revolving Credit Facility and the repayment, satisfaction or discharge of all other
Obligations.

     (d) Evidence of Payments. As soon as reasonably practicable after request by the
Borrower or the Administrative Agent, as the case may be, and after any payment of Indemnified
Taxes or Other Taxes by the Borrower or by the Administrative Agent to a Governmental Authority as
provided in this Section 3.01, the Borrower shall deliver to the Administrative Agent or
the Administrative Agent shall deliver to the Borrower, as the case may be, the original or a
certified copy of a receipt issued by such Governmental Authority evidencing such payment,
a copy of any return required by Laws to report such payment or other evidence of such payment
reasonably satisfactory to the Borrower or the Administrative Agent, as the case may be.

     (e) Status of Lenders; Tax Documentation. (i) Each Lender shall deliver to the
Borrower and to the Administrative Agent, at the time or times prescribed by applicable Laws or
when reasonably requested by the Borrower or the Administrative Agent, such properly completed and
executed documentation prescribed by applicable Laws or by the taxing authorities of any
jurisdiction and such other reasonably requested information as will permit the Borrower or the
Administrative Agent, as the case may be, (A) to determine (1) whether or not payments made to such
Lender hereunder or under any other Loan Document are subject to Taxes or information reporting,
(2) if applicable, the required rate of withholding or deduction

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with respect to such payments, and
(3) such Lender’s entitlement to any available exemption from, or reduction of, applicable Taxes in
respect of all payments to be made to such Lender by the Borrower pursuant to this Agreement or any
other Loan Document or (B) to establish such Lender’s status for withholding tax purposes in the
applicable jurisdiction.

     (ii) Without limiting the generality of clause (i) above, if the Borrower is resident
for tax purposes in the United States,

     (A) any Lender that is a “United States person” within the meaning of Section
7701(a)(30) of the Code shall deliver to the Borrower and the Administrative Agent
(in such number of copies as shall be requested by the recipient) executed originals
of Internal Revenue Service Form W-9 or such other documentation or information
prescribed by applicable Laws or reasonably requested by the Borrower or the
Administrative Agent as will enable the Borrower or the Administrative Agent, as the
case may be, to determine whether or not such Lender is subject to backup
withholding or information reporting requirements;

     (B) each Foreign Lender that is entitled under the Code or any applicable
treaty to an exemption from or reduction of withholding tax with respect to payments
hereunder or under any other Loan Document shall deliver to the Borrower and the
Administrative Agent (in such number of copies as shall be requested by the
recipient) on or prior to the date on which such Foreign Lender becomes a Lender
(and from time to time thereafter upon the request of the Borrower or the
Administrative Agent, but only if such Foreign Lender is legally entitled to do so,
or at such times prescribed by applicable Law), whichever of the following is
applicable:

     (I) executed originals of Internal Revenue Service Form W-8BEN, or
successor applicable form, claiming eligibility for benefits of an income
tax treaty to which the United States is a party,

     (II) executed originals of Internal Revenue Service Form W-8ECI, or
successor applicable form,

     (III) executed originals of Internal Revenue Service Form W-8IMY, or
successor applicable form, and all required supporting documentation,

     (IV) in the case of a Foreign Lender claiming the benefits of the
exemption for portfolio interest under Section 881(c) of the Code, (x) a
certificate to the effect that such Foreign Lender is not (A) a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, (B) a “10 percent
shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of
the Code, or (C) a “controlled foreign corporation” described in section
881(c)(3)(C) of the Code and (y) executed originals of Internal Revenue
Service Form W-8BEN, or successor applicable form, or

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     (V) executed originals of any other form prescribed by applicable Laws
as a basis for claiming exemption from or a reduction in United States
Federal withholding tax together with such supplementary documentation as
may be prescribed by applicable Laws to permit the Borrower or the
Administrative Agent to determine the withholding or deduction required to
be made; and

     (C) if a payment made to a Lender under any Loan Document would be subject to
U.S. federal withholding Tax imposed by FATCA if such Lender, L/C Issuer or
Administrative Agent were to fail to comply with the applicable reporting
requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of
the Code, as applicable), such Lender, L/C Issuer or Administrative Agent shall
deliver to the Borrower and the Administrative Agent at the time or times prescribed
by law and at such time or times reasonably requested by the Borrower or the
Administrative Agent such documentation prescribed by applicable law (including as
prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional
documentation reasonably requested by the Borrower or the Administrative Agent as
may be necessary for the Borrower and the Administrative Agent to comply with their
obligations under FATCA and to determine that such Lender, L/C Issuer or
Administrative Agent has complied with such Lender’s, L/C Issuer’s or Administrative
Agent’s obligations under FATCA or to determine the amount to deduct and withhold
from such payment. Solely for purposes of this clause (C), “FATCA” shall include
any amendments made to FATCA after the date of this Agreement.

     (iii) Each Lender shall promptly (A) notify the Borrower and the Administrative Agent of
any change in circumstances which would modify or render invalid any claimed exemption or
reduction in withholding taxes, (B) take such steps as shall not be materially
disadvantageous to it, in the reasonable judgment of such Lender, and as may be reasonably
necessary (including the re-designation of its Lending Office) to avoid any requirement of
applicable Laws of any jurisdiction that the Borrower or the Administrative Agent make any
withholding or deduction for taxes from amounts payable to such Lender, and (C) deliver to
the Borrower and the Administrative Agent (1) such other documentation or information
prescribed by applicable Law following the
occurrence of any event requiring a change in the most recent documentation previously
delivered pursuant to this subsection (e) so as to maintain compliance with such Lender’s
obligations thereunder, and (2) prior to the date on which any documentation delivered
pursuant to this subsection (e) expires or becomes obsolete, such documentation as may be
necessary to maintain compliance with such Lender’s obligations thereunder.

     (f) Treatment of Certain Refunds. Unless required by applicable Laws, at no time
shall the Administrative Agent have any obligation to file for or otherwise pursue on behalf of a
Lender or the L/C Issuer, or have any obligation to pay to any Lender or the L/C Issuer, any refund
of Taxes withheld or deducted from funds paid for the account of such Lender or the L/C Issuer, as
the case may be. If the Administrative Agent, any Lender or the L/C Issuer determines, in its sole
discretion, that it has received a refund of any Taxes or Other Taxes as to which it has been
indemnified by the Borrower or with respect to which the Borrower has paid

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additional amounts pursuant to this Section 3.01, it shall pay to the Borrower an amount equal to such refund
(but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower
under this Section 3.01with respect to the Taxes or Other Taxes giving rise to such
refund), net of all out-of-pocket expenses incurred by the Administrative Agent, such Lender or the
L/C Issuer, as the case may be, 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 the Administrative Agent, such Lender or the L/C Issuer, agrees to repay the amount paid
over to the Borrower (plus any penalties, interest or other charges imposed by the relevant
Governmental Authority) to the Administrative Agent, such Lender or the L/C Issuer in the event the
Administrative Agent, such Lender or the L/C Issuer is required to repay such refund to such
Governmental Authority. This subsection shall not be construed to require the Administrative
Agent, any Lender or the L/C Issuer to make available its tax returns (or any other information
relating to its taxes that it deems confidential) to the Borrower or any other Person.

     (g) GO Bond Term Loans. Notwithstanding anything to the contrary in this Section
3.01, in the event of any conflict between this Section 3.01 and the GO Bond Documents
with respect to the obligations of the Borrower with respect to the payment or indemnification of
Taxes, Other Taxes and Indemnified Taxes and other matters which are the subject of this
Section 3.01, the applicable terms and conditions of the GO Bond Documents shall control.

       3.02 Illegality. If any Lender determines that any Change in Law has made it unlawful, or
that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable
Lending Office to make, maintain or fund Loans whose interest is determined by reference to the
Eurodollar Rate (including for all purposes under this Section 3.02, as applicable, GO Bond
Term Loans), or to determine or charge interest rates based upon the Eurodollar Rate, or any
Governmental Authority has imposed material restrictions on the authority of such Lender to
purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice
thereof by such Lender to the Borrower through the Administrative Agent, (i) any obligation of such
Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Revolving Credit Loans to
Eurodollar Rate Revolving Credit Loans shall be suspended, and (ii) if such notice asserts the
illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is
determined by reference to the Eurodollar Rate component of the Base Rate, the interest rate on
which Base Rate Loans of such
Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent
without reference to the Eurodollar Rate component of the Base Rate, in each case until such Lender
notifies the Administrative Agent and the Borrower that the circumstances giving rise to such
determination no longer exist. Upon receipt of such notice, (x) the Borrower shall, upon demand
from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all
Eurodollar Rate Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans
of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative
Agent without reference to the Eurodollar Rate component of the Base Rate), either on the last day
of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar
Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such
Eurodollar Rate Loans and (y) if such notice asserts the illegality of such Lender determining or
charging interest rates based upon the Eurodollar Rate, the Administrative Agent shall during the
period of such suspension compute the Base Rate

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applicable to such Lender without reference to the
Eurodollar Rate component thereof until the Administrative Agent is advised in writing by such
Lender that it is no longer illegal for such Lender to determine or charge interest rates based
upon the Eurodollar Rate. Upon any such prepayment or conversion, the Borrower shall also pay
accrued interest on the amount so prepaid or converted.

       3.03 Inability to Determine Rates. If the Required Lenders determine that for any reason in
connection with any request for a Eurodollar Rate Loan (including, for all purposes under this
Section 3.03, GO Bond Term Loans) or a conversion to or continuation thereof that (a)
Dollar deposits are not being offered to banks in the London interbank eurodollar market for the
applicable amount and Interest Period of such Eurodollar Rate Loan, (b) adequate and reasonable
means do not exist for determining the Eurodollar Rate for any requested Interest Period with
respect to a proposed Eurodollar Rate Revolving Credit Loan or in connection with an existing or
proposed Base Rate Loan, or (c) the Eurodollar Rate for any requested Interest Period with respect
to a proposed Eurodollar Rate Revolving Credit Loan does not adequately and fairly reflect the cost
to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower
and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurodollar Rate
Loans (i) in respect to the applicable amount and Interest Period referred to in the preceding
clause (a), or (ii) in the circumstances referred to in the preceding clauses (b) and (c), shall be
suspended, and (y) in the event of a determination described in the preceding sentence with respect
to the Eurodollar Rate component of the Base Rate, the utilization of the Eurodollar Rate component
in determining the Base Rate shall be suspended, in each case until the Administrative Agent (upon
the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the
Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of
Eurodollar Rate Revolving Credit Loans or, failing that, will be deemed to have converted such
request into a request for a Revolving Credit Borrowing of Base Rate Loans in the amount specified
therein.

       3.04 Increased Costs; Reserves on Eurodollar Rate Loans.

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

     (i) impose, modify or deem applicable any reserve, special deposit, compulsory loan,
insurance charge or similar requirement against assets of, deposits with
or for the account of, or credit extended or participated in by, any Lender (except any
reserve requirement contemplated by Section 3.04(e)) or L/C Issuer;

     (ii) subject any Lender or L/C Issuer to any tax of any kind whatsoever with respect to
this Agreement, any Letter of Credit, any participation in a Letter of Credit or any
Eurodollar Rate Loan (including, for all purposes under this Section 3.04, GO Bond
Term Loans) made by it, or change the basis of taxation of payments to such Lender or L/C
Issuer in respect thereof (except for Indemnified Taxes or Other Taxes covered by
Section 3.01 and the imposition of, or any change in the rate of, any Excluded Tax
payable by such Lender or L/C Issuer); or

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     (iii) impose on any Lender or L/C Issuer or the London interbank market any other
condition, cost or expense affecting this Agreement or Eurodollar Rate Loans made by such
Lender or any Letter of Credit or participation therein;

and the result of any of the foregoing shall be to increase the cost to such Lender of making or
maintaining any Loan the interest on which is determined by reference to the Eurodollar Rate (or of
maintaining its obligation to make any such Eurodollar Rate Loan), or to increase the cost to such
Lender or L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of
maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the
amount of any sum received or receivable by such Lender or L/C Issuer hereunder (whether of
principal, interest or any other amount), in each case, by an amount deemed in good faith by such
Lender or L/C Issuer to be material, then, within five Business Days after written demand therefor
by such Lender or L/C Issuer, the Borrower will pay to such Lender or L/C Issuer, as the case may
be, such additional amount or amounts as will compensate such Lender or L/C Issuer, as the case may
be, for such additional costs incurred or reduction suffered.

     (b) Capital Requirements. If any Lender or L/C Issuer determines that any Change in
Law affecting such Lender or L/C Issuer or any Lending Office of such Lender or such Lender’s or
L/C Issuer’s holding company, if any, regarding capital requirements has or would have the effect
of reducing the rate of return on such Lender’s or L/C Issuer’s capital or on the capital of such
Lender’s or L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Revolving
Credit Commitment of such Lender or the Loans made by, or participations in Letters of Credit held
by, such Lender, or the Letters of Credit issued by L/C Issuer, by an amount deemed in good faith
by such Lender or L/C Issuer to be material based on that which such Lender or L/C Issuer or such
Lender’s or L/C Issuer’s holding company could have achieved but for such Change in Law (taking
into consideration such Lender’s or L/C Issuer’s policies and the policies of such Lender’s or L/C
Issuer’s holding company with respect to capital adequacy), then from time to time within five
Business Days after written demand therefore, the Borrower will pay to such Lender or L/C Issuer,
as the case may be, such additional amount or amounts as will compensate such Lender or L/C Issuer
or such Lender’s or L/C Issuer’s holding company, if any, for any such reduction suffered.

     (c) Certificates for Reimbursement. A certificate of a Lender or L/C Issuer setting
forth the amount or amounts necessary to compensate such Lender or L/C Issuer or its holding
company, as the case may be, as specified in subsection (a) or (b) of this Section and delivered to
the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender or
L/C Issuer, as the case may be, the amount shown as due on any such certificate within 10 days
after receipt thereof. Upon request by the Borrower, a Lender or L/C Issuer, as the case may be,
shall also provide a certificate that such Lender or L/C Issuer is generally requesting such
compensation from its other borrowers.

     (d) Delay in Requests. Failure or delay on the part of any Lender or L/C Issuer to
demand compensation pursuant to the foregoing provisions of this Section shall not constitute a
waiver of such Lender’s or L/C Issuer’s right to demand such compensation, provided that
the Borrower shall not be required to compensate a Lender or L/C Issuer pursuant to the foregoing
provisions of this Section for any increased costs incurred or reductions suffered more than 180
days prior to the date that such Lender or L/C Issuer, as the case may be, notifies the Borrower of

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the Change in Law giving rise to such increased costs or reductions and of such Lender’s or L/C
Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise to
such increased costs or reductions is retroactive, then the 180-day period referred to above shall
be extended to include the period of retroactive effect thereof).

     (e) Reserves on Eurodollar Rate Loans. The Borrower shall pay to each Lender, as long
as such Lender shall be required to maintain reserves with respect to liabilities or assets
consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency
liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan
equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by
such Lender in good faith, which determination shall be conclusive absent manifest error), which
shall be due and payable on each date on which interest is payable on such Loan, provided
the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative
Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days
prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10
days from receipt of such notice.

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

     (a) any continuation, conversion, payment or prepayment of any Loan (other than a Base Rate
Loan or a GO Bond Term Loan) on a day other than the last day of the Interest Period for such Loan
or, with respect to any GO Bond Term Loan, on a day other than the first Business Day following the
last day of a calendar month (whether voluntary, mandatory, automatic, by reason of acceleration,
or otherwise);

     (b) any failure by the Borrower (for a reason other than the failure of such Lender to make a
Loan) to (i) prepay, borrow, continue or convert any Loan (other than a Base Rate Loan or a GO Bond
Term Loan) on the date or in the amount notified by the Borrower, or (ii) prepay or redeem any GO
Bond Term Loan, whether pursuant to the redemption of a GO Bond or otherwise, on the date or in the
amount notified by the Borrower; or

     (c) any permitted assignment of a Eurodollar Rate Loan (including a GO Bond Term Loan) on a
day other than the last day of the Interest Period therefor as a result of a request by the
Borrower pursuant to Section 11.13;

excluding any loss of anticipated profits but including any loss (other than loss of anticipated
profits) or expense arising from the liquidation or reemployment of funds obtained by it to
maintain such Loan or from fees payable to terminate the deposits from which such funds were
obtained. The Borrower shall also pay any customary administrative fees charged by such Lender in
connection with the foregoing.

A certificate of such Lender setting forth the amount of any such loss, cost or expense, including
reasonably detailed calculations thereof, shall be delivered to the Borrower and the Administrative
Agent and be conclusive absent manifest error. For purposes of calculating amounts payable by the
Borrower to the Lenders under this Section 3.05, each Lender shall be

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deemed to have funded
each Eurodollar Rate Revolving Credit Loan made by it at the Eurodollar Rate for such Loan by a
matching deposit or other borrowing in the London interbank eurodollar market for a comparable
amount and for a comparable period, whether or not such Eurodollar Rate Revolving Credit Loan was
in fact so funded.

       3.06 Mitigation Obligations; Replacement of Lenders.

     (a) Designation of a Different Lending Office. If any Lender requests compensation
under Section 3.04, or the Borrower is required to pay any additional amount to any Lender,
the L/C Issuer, or any Governmental Authority for the account of any Lender or the L/C Issuer
pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02,
then such Lender or the L/C Issuer shall, as applicable, use reasonable efforts to designate a
different Lending Office for funding or booking its Loans hereunder or to assign its rights and
obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of
such Lender or the L/C Issuer, such designation or assignment (i) would eliminate or reduce amounts
payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or
eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each
case, would not subject such Lender or the L/C Issuer, as the case may be, to any unreimbursed cost
or expense and would not otherwise be disadvantageous to such Lender or the L/C Issuer, as the case
may be. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender
or the L/C Issuer in connection with any such designation or assignment.

     (b) Replacement of Lenders. If (i) any Lender requests compensation under Section
3.04, or gives a notice pursuant to Section 3.02 and does not subsequently designate a
different Lending Office or assign its rights and obligations hereunder to another of its offices,
branches or affiliates as provided above, (ii) the Borrower is required to pay any additional
amount to any Lender or any Governmental Authority for the account of any Lender pursuant to
Section 3.01, (iii) any Lender becomes a Defaulting Lender, or (iv) any Lender fails to
consent to an election, consent, amendment, waiver or other modification to this Agreement or any
other Loan Document that requires the consent of (A) the Required Lenders, and such election,
consent, amendment, waiver or other modification is otherwise consented to by the Required Lenders,
or (B) all Lenders (or all Lenders directly affected thereby), and such election, consent,
amendment, waiver or other modification is otherwise consented to by the Supermajority Lenders,
then in each case, the Borrower may replace such Lender in accordance with Section 11.13;
provided, notwithstanding anything in this Section 3.06 to the contrary, the
Borrower shall not be able to require any GO Bond Term Lender to assign or delegate any of its
obligations with respect to any GO Bond Term Loan.

       3.07 Survival. All of the Borrower’s obligations under this Article III shall survive
termination of the Revolving Credit Facility, repayment of all other Obligations hereunder, and
resignation of the Administrative Agent.

     ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

       4.01 Conditions Precedent to Initial Credit Extension. The obligation of the L/C Issuer and
each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the
following conditions precedent:

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     (a) The Administrative Agent’s receipt of the following, each of which shall be originals,
telecopies or other electronic copies (followed promptly by originals) unless otherwise specified,
each properly executed by a Responsible Officer of the Borrower, if applicable, each dated the
Closing Date (or, in the case of certificates of governmental officials, a recent date before the
Closing Date, and in the case of financial statements, the date or period of such financial
statements) and each in form and substance reasonably satisfactory to the Administrative Agent:

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

     (ii) if so requested within three Business Days of the Closing Date, a Swing Line Note
executed by the Borrower in favor of the Swing Line Lender, and a Revolving Credit Note
executed by the Borrower in favor of each requesting Lender;

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

     (iv) such documents and certifications as the Administrative Agent may reasonably
require to evidence that each of the Borrower and General Partner is duly organized or
formed, and that the Borrower is validly existing and in good standing in its jurisdiction
of organization, issued by the appropriate authorities of such jurisdiction;

     (v) favorable opinions of Richard K. McGee, Esq., Vice President-Legal of the General
Partner, and Fulbright & Jaworski L.L.P., special Texas and New York counsel for the
Borrower, addressed to the Administrative Agent and each Lender; 

     (vi) the Audited Financial Statements and the Initial Pro Forma Forecasts;

     (vii) a certificate signed by a Responsible Officer of the Borrower certifying (A) that
the conditions specified in Section 4.02(a) and (b) have been satisfied, (B)
the Initial Pro Forma Forecasts were prepared in good faith upon assumptions deemed
reasonable by the Borrower at the time made, (C) that there has been no event or
circumstance since the date of the most recent Audited Financial Statements that has had or
could be reasonably expected to have, either individually or in the aggregate, a
Material Adverse Effect, (D) that to the best of the Borrower’s knowledge after due
inquiry, as of the Closing Date no GO Bond Indenture Default has occurred and is continuing,
(E) calculation of the Consolidated Leverage Ratio as of the Closing Date, and (F) the
Borrower’s true and correct U.S. taxpayer identification number;

     (viii) evidence that the Existing Credit Agreement has been or concurrently with the
Closing Date is being terminated;

     (ix) executed counterparts of each GO Bond Indenture, and copies of each other GO Bond
Document and any other agreements, certificates, documents, instruments

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or writings
delivered on the Closing Date in connection therewith, including a certificate of the GO
Bond Issuer that no GO Bond Indenture Default has occurred and is continuing and favorable
opinions of Phelps Dunbar, bond counsel for the GO Bond Issuer, addressed to the Indenture
Trustee, the GO Bond Issuer, the Administrative Agent and the Borrower with respect to the
GO Bonds and the GO Bond Indentures (providing for reliance thereon by, or with reliance
letters addressed to, the GO Bond Term Lenders with respect thereto), including (i) an
opinion that interest on the GO Bonds is excludable from gross income for federal tax
purposes the GO Bond Indentures) will have no adverse affect on the tax-exempt status of the
GO Bonds, and (ii) with respect to the GO Bonds 2010, an opinion that the GO Bonds 2010 are
eligible for the de minimis exception under Section 265(b)(7) of the Code; and

     (x) such other assurances, certificates, documents, consents or opinions as the
Administrative Agent may reasonably require.

     (b) In connection with the sale of the Outstanding GO Bonds by the Borrower to the GO Bond
Term Lenders pursuant to Section 2.01(a), the Borrower shall have delivered to the GO Bond
Trustee the Outstanding GO Bonds, and the GO Bond Issuer shall pursuant to the terms of the GO Bond
Indentures have reissued the GO Bonds thereunder in the name of each of GO Bond Term Lenders in
accordance with their Applicable Percentages, such new GO Bonds shall have been authenticated by
the GO Bond Trustee and delivered to the Go Bond Term Lenders, and all conditions set forth in the
GO Bond Documents with respect thereto shall have been satisfied in all respects;

     (c) All consents, licenses and approvals required in connection with the execution, delivery
and performance by the Borrower and the validity against the Borrower of the Loan Documents to
which it is a party shall have been obtained and shall be in full force and effect.

     (d) There shall not have occurred during the period from the date of the most recent Audited
Financial Statements through and including the Closing Date any event or condition that has had or
could reasonably be expected, either individually or in the aggregate, to have a Material Adverse
Effect, and there shall be no actions, suits, investigations, proceedings, claims or disputes
pending or, to the knowledge of the Borrower, threatened in writing, at law, in equity, in
arbitration or before any Governmental Authority, by or against the Borrower or any of its
Subsidiaries or against any of their properties or revenues that either individually or in the
aggregate could reasonably be expected to have a Material Adverse Effect.

     (e) Any fees, including any arrangement fees, agency fees and upfront fees, and any expenses
of the Arrangers and Administrative Agent, in each case, as agreed in writing by the Borrower,
required to be paid on or before the Closing Date shall have been paid.

     (f) The Borrower shall have paid all reasonable fees, charges and disbursements of counsel to
the Administrative Agent to the extent invoiced prior to or on the Closing Date.

     Without limiting the generality of the provisions of the last paragraph of Section
9.03, for purposes of determining compliance with the conditions specified in this Section
4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved
or

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accepted or to be satisfied with, each document or other matter required thereunder to be
consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative
Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its
objection thereto and the Administrative Agent hereby agrees to promptly provide the Borrower with
a copy of any such notice received by the Administrative Agent.

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

     (a) The representations and warranties of the Borrower contained in Article V or any
other Loan Document shall be true and correct in all material respects on and as of the date of
such Credit Extension, except to the extent that such representations and warranties specifically
refer to an earlier date, in which case they shall be true and correct in all material respects as
of such earlier date, and except that for purposes of this Section 4.02, the
representations and warranties contained in subsections (a) and (b) of Section 5.05 shall
be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b),
respectively, of Section 6.01.

     (b) No Default shall have occurred and be continuing, or would immediately result from such
proposed Credit Extension or from the application of the proceeds thereof.

     (c) The Administrative Agent and, if applicable, the L/C Issuer or the Swing Line Lender shall
have received a Request for Credit Extension in accordance with the requirements hereof.

ARTICLE V. REPRESENTATIONS AND WARRANTIES

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

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

       5.02 Authorization; No Contravention. The execution, delivery and performance by each Loan
Party of each Loan Document to which such Person is party have been duly authorized by all
necessary corporate or other organizational action, and do not and will not (a) violate (i) the
terms of such Person’s Organization Documents, (ii) any order, injunction, writ or decree of any
Governmental Authority or any arbitral award to which such Person or its property is subject, or
(iii) any provision of Law applicable to it, (b) result in the acceleration of any Indebtedness
owed by it, (c) result in any breach of, or a default under, any material Contractual Obligation to
which such Person is a party or to which its properties are bound or (d) result in the

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creation of
any consensual Lien upon any of its material assets except as expressly contemplated in, or
permitted by, the Loan Documents.

       5.03 Governmental Authorization; Other Consents. Except as expressly contemplated in or
permitted by the Loan Documents, disclosed in Schedule 5.03 or disclosed pursuant to
Section 6.03, no approval, consent, exemption or authorization of, or other action by, or
notice to, or filing with, any Governmental Authority or any other Person is required to be made or
obtained by any Restricted Person a party thereto pursuant to the provisions of any material Law
applicable to it as a condition to its execution, delivery or performance of this Agreement or any
other Loan Document.

       5.04 Binding Effect. This Agreement has been, and each other Loan Document to which a Loan
Party is a party, when delivered hereunder, will have been, duly executed and delivered by such
Loan Party. This Agreement constitutes, and each other such Loan Document when so executed and
delivered will constitute, a legal, valid and binding obligation of the Loan Party a party hereto
or thereto, as the case may be, enforceable against such Loan Party that is party hereto or thereto
in accordance with its terms, except, in each case (a) as may be limited by bankruptcy, insolvency,
reorganization, moratorium, fraudulent transfer or other similar laws relating to or affecting the
enforcement of creditors’ rights generally, and by general principles of equity which may limit the
right to obtain equitable remedies (regardless of whether such enforceability is a proceeding in
equity or at law) and (b) as to the enforceability of provisions for indemnification and the
limitations thereon arising as a matter of law or public policy.

       5.05 Financial Statements; No Material Adverse Effect.

     (a) The Audited Financial Statements (i) were prepared in accordance with GAAP consistently
applied throughout the period covered thereby, except as otherwise expressly noted therein and (ii)
fairly present the financial condition of the Borrower (or its predecessor, as the case may be) and
its Subsidiaries on a consolidated basis as of the respective dates thereof and their results of
operations for the period covered thereby in accordance with GAAP consistently applied throughout
the period covered thereby, except as otherwise expressly noted therein.

     (b) The unaudited consolidated balance sheets of the Borrower and its Subsidiaries most
recently delivered pursuant to Section 6.01(b), and the related consolidated statements of
income or operations, shareholders’ equity and cash flows for the fiscal quarter ended on that date
(i) were prepared in accordance with GAAP consistently applied throughout the period
covered thereby, except as otherwise expressly noted therein, and (ii) fairly present the
financial condition of the Borrower and its Subsidiaries on a consolidated basis as of the date
thereof and their results of operations for the period covered thereby, subject, in the case of
clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments.

     (c) As of the Closing Date, for the period from December 31, 2010 through the Closing Date,
there exists no event or circumstance with respect to the Borrower and its Subsidiaries taken as a
whole, either individually or in the aggregate, that has then resulted in, or could then reasonably
be expected to have, a Material Adverse Effect.

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       5.06 Litigation. Except as disclosed in the Audited Financial Statements, in Schedule
5.06 or pursuant to Section 6.03, there are no actions, suits, proceedings, claims or
disputes pending or, to the knowledge of the Borrower, overtly threatened in writing, at law, in
equity, in arbitration or before any Governmental Authority, by or against the Borrower or any of
its Subsidiaries or against any of their properties or revenues that either individually or in the
aggregate could reasonably be expected to have a Material Adverse Effect.

       5.07 No Default. Except as disclosed in the Audited Financial Statements, in Schedule
5.07 or pursuant to Section 6.03, neither the Borrower nor its Subsidiaries nor any
other Loan Party is in default of its express and existing obligations under any Contractual
Obligation to which it is a party that could, either individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect. No Default has occurred and is continuing, except
as has been waived in accordance with this Agreement, or as of the Closing Date, would result upon
the consummation of the transactions contemplated by this Agreement or any other Loan Document.

       5.08 Ownership of Property; Liens. The Borrower and its Subsidiaries have good and defensible
title to all of their respective material property necessary or used in the ordinary conduct of its
business, free and clear of any (a) impediments in such use of such property except for such
impediments that could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect and (b) Liens, other than Liens permitted by Section 7.01.

       5.09 Environmental Compliance. Except as disclosed in Schedule 5.09 or pursuant to
Section 6.03, the Borrower and its Subsidiaries conduct their businesses in material
compliance with applicable Environmental Laws and in the ordinary course of business, review claims
received by, and made against, them which overtly allege liability or responsibility on any of them
for violation by any of them of any material Environmental Law on their respective businesses,
operations and material properties, which could not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect.

       5.10 Insurance. The properties of the Significant Restricted Persons are insured in
compliance with the provisions of Section 6.07.

       5.11 Taxes. Except as disclosed in accordance with Section 6.03, all Significant
Restricted Persons have complied with and are in compliance with Section 6.04. As of the
Closing Date, neither the Borrower nor any of its Subsidiaries is party to any tax sharing
agreement, other than with PAA or one or more of its Affiliates.

       5.12 ERISA Compliance.

     (a) Except as disclosed in the Audited Financial Statements, in Schedule 5.12 or
pursuant to Section 6.03, each Plan is in compliance in all material respects with the
applicable provisions of ERISA, the Code and other applicable Federal or state laws, to the extent
that any non-compliance therewith could reasonably be expected to result in a Material Adverse
Effect. Each Pension Plan that is intended to be a qualified plan under Section 401(a) of the Code
has received a favorable determination or opinion letter from the IRS to the effect that the form
of such Plan is qualified under Section 401(a) of the Code and the trust related thereto has been

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determined by the IRS to be exempt from federal income tax under Section 501(a) of the Code, or an
application for such a letter has been submitted to the IRS. To the knowledge of the Borrower,
nothing has occurred with respect to the Borrower or any ERISA Affiliate that would prevent or
cause the loss of such tax-qualified status.

     (b) Except as disclosed in the Audited Financial Statements, in Schedule 5.12 or
pursuant to Section 6.03, there are no pending or, to the knowledge of the Borrower,
overtly threatened in writing, claims, actions or lawsuits, or action by any Governmental
Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse
Effect. Except as disclosed in the Audited Financial Statements, in Schedule 5.12 or
pursuant to Section 6.03, there has been no prohibited transaction or violation of the
fiduciary responsibility rules with respect to any Plan that has resulted or, actually known to the
Borrower, could reasonably be expected to result in a Material Adverse Effect.

     (c) Except as disclosed in the Audited Financial Statements, in Schedule 5.12 or
pursuant to Section 6.03, (i) no ERISA Event has occurred, and neither the Borrower nor any
ERISA Affiliate has actual knowledge of any fact, event or circumstance that could reasonably be
expected to constitute or result in an ERISA Event with respect to any Pension Plan, (ii) the
Borrower and each ERISA Affiliate has met, in all material respects, all applicable requirements
under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the minimum
funding standards under the Pension Funding Rules has been applied for or obtained, (iii) as of the
most recent valuation date for any Pension Plan, the funding target attainment percentage (as
defined in Section 430(d)(2) of the Code) is 60% or higher, and neither the Borrower nor any ERISA
Affiliate has actual knowledge of any facts or circumstances that could reasonably be expected to
cause the funding target attainment percentage for any such plan to drop below 60% as of the most
recent valuation date, (iv) neither the Borrower nor any ERISA Affiliate has incurred any liability
to the PBGC other than for the payment of premiums or obligations of immaterial amounts, and there
are no premium payments which have become due that are delinquent or are being contested in good
faith, (v) neither the Borrower nor any ERISA Affiliate has, to its actual knowledge, engaged in a
transaction that could be subject to Section 4069 or Section 4212(c) of ERISA, and (vi) to
Borrower’s actual knowledge, no Pension Plan has been terminated by the plan administrator thereof
nor by the PBGC, and no event or circumstance has occurred or exists that could reasonably be
expected to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any
Pension Plan, in each case with respect to each of the foregoing clauses (i) through (vi) of this
Section 5.12(c), except as disclosed in the Audited Financial Statements, in Schedule
5.12 or pursuant to Section 6.03.

       5.13 Significant Restricted Persons. As of the Closing Date, the Borrower has no Subsidiaries
that are Significant Restricted Persons other than Bluewater, Pine Prairie and SG Resources.

       5.14 Margin Regulations; Investment Company Act.

     (a) The Borrower is not engaged and will not engage, principally, or as one of its important
activities, in the business of purchasing or carrying margin stock (within the meaning of
Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying
margin stock.

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     (b) Neither the Borrower nor any other Loan Party is regulated under the Investment Company
Act of 1940.

       5.15 Disclosure. There is no fact known to any Restricted Person that has not been disclosed
to the Administrative Agent and the Lenders in writing which, individually or in the aggregate,
would reasonably be expected to result in a Material Adverse Effect. No report, financial
statement, certificate or other information furnished by or on behalf of any Loan Party to the
Administrative Agent or any Lender in connection with the transactions contemplated hereby and the
negotiation of this Agreement (including those delivered hereunder or under any other Loan Document
(in each case, as modified or supplemented by other information so furnished, when so modified or
supplemented)) contains any untrue statement of a material fact or omits to state any material fact
necessary to make the statements contained herein or therein, in the light of the circumstances
under which they were made, not misleading as of the date made or deemed made (or if such
information expressly relates or refers to an earlier date, as of such earlier date);
provided that, with respect to projected and forecast financial information, the Borrower
represents only that such projections and forecasts were prepared in good faith based upon
assumptions deemed reasonable by it at the time.

       5.16 Compliance with Laws. Except as set forth in Schedule 5.16 or in accordance with
Section 6.03, each Loan Party and each Subsidiary thereof is in compliance in all material
respects with the requirements of all Laws and all orders, writs, injunctions and decrees
applicable to it or to its properties, except in such instances in which (a) such requirement of
Law or order, writ, injunction or decree is being contested in good faith, and if necessary, by
appropriate proceedings diligently conducted or (b) the failure to comply therewith, either
individually or in the aggregate, could not reasonably be expected to have a Material Adverse
Effect.

       5.17 Sale of GO Bonds. In order to induce the GO Bond Term Lenders to purchase the
Outstanding GO Bonds from the Borrower, as of the Closing Date (a) the Borrower is the sole owner
and holder of the Outstanding GO Bonds and has good title thereto and full right, power and
authority to transfer to the GO Bond Term Lenders all of the Outstanding GO Bonds being purchased
thereby on the Closing Date, free of any lawful claim thereto by any Person, (b) to the best of the
Borrower’s knowledge after due inquiry, there are no offsets, defenses or counterclaims against the
enforcement of the Outstanding GO Bonds or the rights of any holders of the Outstanding GO Bonds
under the GO Bond Indentures, whether such Outstanding GO Bonds are held by the Borrower or the GO
Bond Term Lenders, and no GO Bond Indenture
Default has occurred and is continuing, (c) the outstanding principal balance under the
Outstanding GO Bonds 2009 is $100,000,000, and the outstanding principal balance under the
Outstanding GO Bonds 2010 is $100,000,000, (d) no approval, consent, exemption or authorization of,
or other action by, or notice to, or filing with, any Governmental Authority, the GO Bond Issuer,
the GO Bond Trustee or any other Person is required to be made or obtained by the Borrower pursuant
to the provisions of any GO Bond Document or any material Law applicable to it as a condition to
the sale of the Outstanding GO Bonds by the Borrower to the GO Bond Term Lenders, (e) no release or
subordination relating to the Outstanding GO Bonds has occurred since the date of original issuance
during the period that the Borrower has owned the GO Bonds and (f) there have been no amendments or
modifications to the GO Bond Indentures, the Outstanding GO Bonds or any other GO Bond Document,
and there have been no

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waivers with respect to any of the GO Bond Documents or any rights, titles
or interests of the Borrower thereunder during the period that the Borrower owned the GO Bonds.

ARTICLE VI. AFFIRMATIVE COVENANTS

     So long as any Lender shall have any Revolving Credit Commitment hereunder, any Loan or other
Obligation hereunder shall remain unpaid or unsatisfied, or (unless a collateral arrangement
satisfactory to the L/C Issuer has been entered into) any Letter of Credit shall remain
outstanding, the Borrower shall, and shall (except in the case of the covenants set forth in
Sections 6.01, 6.02, and 6.03, and except in the case of the covenants set
forth in Sections 6.04, 6.05, 6.06, 6.07, and 6.08, which
shall be limited to Significant Restricted Persons) cause each Subsidiary to:

       6.01 Financial Statements. Deliver to the Administrative Agent the following statements and
reports, at the Borrower’s expense:

     (a) promptly upon the filing thereof, and in any event within ninety (90) days after the end
of each fiscal year, a copy of the Borrower’s Form 10-K, which report shall include the Borrower’s
complete consolidated financial statements together with all notes thereto, prepared in reasonable
detail in accordance with GAAP, together with an opinion, without material qualification, based on
an audit using generally accepted auditing standards, by PricewaterhouseCoopers LLP, or other
independent certified public accountants selected by General Partner, stating that such
consolidated financial statements have been so prepared, and these financial statements shall
contain a consolidated balance sheet as of the end of such fiscal year and consolidated statements
of earnings for such fiscal year, and such consolidated financial statements shall set forth in
comparative form the corresponding figures for the preceding fiscal year; and

     (b) promptly upon the filing thereof, and in any event within sixty (60) days after the end of
each of the first three fiscal quarters of each fiscal year, a copy of the Borrower’s Form 10-Q,
which report shall include the Borrower’s unaudited consolidated balance sheet as of the end of
such fiscal quarter and consolidated statements of the Borrower’s earnings and cash flows 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 to any information contained in materials furnished pursuant to Section 6.02(b), the
Borrower shall not be separately required to furnish such information under clause (a) or (b)
above, but the foregoing shall not be in derogation of the obligation of the Borrower to furnish
the information and materials described in clauses (a) and (b) above at the times specified
therein.

       6.02 Certificates; Other Information. Deliver to the Administrative Agent and each Lender
(except as otherwise provided in subsection (c) below), in form and detail reasonably satisfactory
to the Administrative Agent:

     (a) concurrently with the delivery of the financial statements referred to in Sections
6.01(a) and (b), a duly completed Compliance Certificate signed by the chief financial
officer, principal accounting officer or treasurer of General Partner (i) stating that such
Consolidated financial statements are accurate and complete in all material respects (subject to

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normal year-end adjustments), (ii) stating that such Person has reviewed the Loan Documents, (iii)
containing calculations showing compliance (or non compliance) at the end of such fiscal quarter
with the requirements of Section 7.09, (iv) stating that, to the best of such Person’s
knowledge, no Default exists at the end of such fiscal quarter or at the time of such certificate
or specifying the nature and period of existence of any such Default, and (v) identifying any
Subsidiary designated as an Unrestricted Subsidiary since the date of the most-recently delivered
prior certificate under this Section 6.02(a) (which delivery may, unless the Administrative
Agent requests executed originals, be by electronic communication including fax or email and shall
be deemed to be an original authentic counterpart thereof for all purposes);

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

     (c) promptly, to the Administrative Agent, upon written request, such additional information
regarding the business, financial or corporate affairs of the Borrower or any Subsidiary, or
compliance with the terms of the Loan Documents, in each case which are reasonably requested by the
Administrative Agent or any Lender and not subject to confidentiality restrictions or
attorney-client privilege.

     Documents required to be delivered pursuant to Section 6.01(a) or (b) or
Section 6.02(b) (to the extent any such documents are included in materials otherwise filed
with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been
delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on
the Borrower’s website on the Internet at the website address listed on Schedule 11.02,
(ii) on which such documents are delivered to the Administrative Agent for posting to the Platform
or (iii) on which such documents are posted on the Borrower’s behalf on any other Internet or
intranet website, if any, to which each Lender and the Administrative Agent have access (whether a
commercial, third-party website or whether sponsored by the Administrative Agent), and in either
case, the Borrower notifies the Administrative Agent of such posting or link. The Administrative
Agent shall have no obligation to request the delivery of or to maintain paper
copies of the documents referred to above, and in any event shall have no responsibility to
monitor compliance by the Borrower with any such request by a Lender for delivery, and each Lender
shall be solely responsible for requesting delivery to it or maintaining its copies of such
documents.

     The Borrower hereby acknowledges that (a) the Administrative Agent or its authorized
Affiliates will make available to the Lenders and the L/C Issuer materials and/or information
provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by
posting the Borrower Materials on IntraLinks or another similar electronic system (the
“Platform”) and (b) certain of the Lenders (each, a “Public Lender”) do not wish to
receive material non-public information with respect to the Borrower or its Affiliates, or the
respective securities of any of the foregoing, and who may be engaged in investment and other
market-related activities with respect to such Persons’ securities. The Borrower hereby agrees
that (w)

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all Borrower Materials that it instructs to be made available to Public Lenders shall be
clearly and conspicuously marked “PUBLIC” prominently on the first page thereof, (x) by marking
Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative
Agent or its authorized Affiliates, the L/C Issuer and the Lenders to treat such Borrower Materials
as not containing any material non-public information with respect to the Borrower or its
securities for purposes of United States Federal and state securities laws (provided,
however, that to the extent such Borrower Materials constitute Information, they shall be
treated as set forth in Section 11.07), (y) all Borrower Materials so marked “PUBLIC” are
permitted to be made available through a portion of the Platform designated “Public Side
Information” and (z) the Administrative Agent or its authorized Affiliates shall be entitled to
treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a
portion of the Platform not designated “Public Side Information.”

       6.03 Notices. Promptly notify the Administrative Agent and each Lender not later than five
Business Days after any executive officer of the Borrower has knowledge:

     (a) of the occurrence of any Default or GO Bond Indenture Default; and

     (b) of any matter that has resulted or could reasonably be expected to result in a Material
Adverse Effect.

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

       6.04 Payment of Taxes, Etc. (a) Timely file all required tax returns (including any
extensions), (b) timely pay all taxes, assessments, and other governmental charges or levies
imposed upon it or upon its income, profits or property, and (c) maintain appropriate accruals and
reserves for all of the foregoing as required by GAAP, except to the extent that (i) it is in good
faith contesting the validity thereof by appropriate proceedings, if necessary, diligently
conducted and has set aside on its books adequate reserves therefor which are required by GAAP
or (ii) such non-filing, non-payment or non-maintenance would not reasonably be expected to
result in a Material Adverse Effect.

       6.05 Preservation of Existence, Etc. (a) Preserve and maintain its legal existence and good
standing under the Laws of the jurisdiction of its organization and (b) take all reasonable action
to maintain all rights, privileges, permits, licenses and franchises necessary in the normal
conduct of its business, except, in each case (i) where the failure so to maintain or preserve (as
the case may be) would not reasonably be expected to cause a Material Adverse Effect or (ii) as
permitted in Section 7.03 or as a result of statutory conversions.

       6.06 Maintenance of Properties. Maintain all of its material properties and equipment that
are necessary in the operation of its business in good working order and condition, ordinary wear
and tear and obsoleteness excepted, except where the failure to do so could not reasonably be
expected to have a Material Adverse Effect.

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       6.07 Maintenance of Insurance. Maintain, with financially sound and reputable insurance
companies, insurance or, at its option, self-insure in such amounts (after giving effect to any
self-insurance compatible with the following standards) and against such risks as are customarily
insured by other Persons engaged in the same or similar businesses and owning similar properties;
provided, however, that notwithstanding the foregoing provisions of this 
Section 6.07, the Borrower or any Subsidiary may effect workers’ compensation or similar
insurance in respect of operations in any state or other jurisdiction through any insurance fund
operated by such state or other jurisdiction or by causing to be maintained a system or systems of
self-insurance in accord with applicable laws. The insurance coverages and amounts will be
reasonably determined by the Borrower, based on coverages carried by prudent owners of similar
property, and with respect to each other Significant Restricted Person, may be maintained by the
Borrower.

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

       6.09 Books and Records. Maintain full and accurate books of record and account in conformity
with GAAP consistently applied.

       6.10 Inspection Rights. Permit representatives and independent contractors of the
Administrative Agent to visit and inspect any of its properties, to examine its corporate,
financial and operating records, and to make copies thereof or abstracts therefrom, and to discuss
its affairs, finances and accounts with its officers and independent public accountants, all at
such reasonable times during normal business hours, upon reasonable advance notice to the Borrower.
Each of the foregoing inspections and examinations shall be made subject to compliance with
applicable safety standards and the same conditions applicable to any Restricted Person in respect
of property of that Restricted Person on the premises of Persons other than a Restricted Person or
an Affiliate of a Restricted Person, and all information, books and records furnished or
requested to be made, all information to be investigated or verified, all copies and abstracts
of all information, books and records and all discussion conducted with any officer, employee or
representative of any Restricted Person, in each case, shall be subject to any applicable
attorney-client privilege exceptions which the Borrower or such Restricted Person determines is
reasonably necessary and compliance with conditions to disclosures under non-disclosure agreements
between any Restricted Person and Persons other than a Restricted Person or an Affiliate of a
Restricted Person and the express undertaking of each Person acting at the direction of or on
behalf of any Lender Party to be bound by the confidentiality provisions of Section 11.07
of this Agreement.

     6.11 Use of Proceeds. Use the proceeds of the Credit Extensions to refinance Indebtedness
under the Existing Credit Agreement, for working capital, capital expenditures, repayment of
intercompany debt, acquisitions not in contravention of Section 7.05, and other general
corporate purposes not in violation of any Law applicable to it and not resulting in a Default or
Event of Default.

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ARTICLE VII. NEGATIVE COVENANTS

     So long as any Lender shall have any Revolving Credit Commitment hereunder, any Loan or other
Obligation hereunder shall remain unpaid or unsatisfied, or (unless a collateral arrangement
satisfactory to the L/C Issuer has been entered into) any Letter of Credit shall remain
outstanding, the Borrower shall not, nor shall it permit any Subsidiary (except in the case of the
covenants set forth in Section 7.03 and Section 7.07, which shall be limited to
Significant Restricted Persons, and in the case of the covenant in Section 7.04, which
shall be limited to the Borrower) to:

       7.01 Liens. Create, incur, assume or permit to exist any Lien upon (I) any of its property or
upon the Equity Interests of any Subsidiary to secure Indebtedness, whether now owned or hereafter
acquired, owing to PAA or any of its Affiliates, or (II) any of its Principal Property or upon the
Equity Interests of any Subsidiary (other than, for the avoidance of doubt, Unrestricted
Subsidiaries), whether now owned or hereafter acquired, other than the following:

     (a) Liens pursuant to any Loan Document or securing any of the Obligations (which Liens may,
if required as a condition to the granting or acceptance thereof, also secure, on a pari-passu
basis, any Swap Contracts with Lenders or their Affiliates;

     (b) Liens pursuant to the Pine Prairie Lease and extensions, renewals and replacements
thereof;

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

     (d) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens
(including Liens on property of any Restricted Person in the possession of storage facilities,
pipelines or barges) arising in the ordinary course of business for amounts which are not overdue
for a period of more than 60 days or which are being contested in good faith and by
appropriate proceedings, if necessary, diligently conducted, if adequate reserves with
respect thereto are maintained on the books of the applicable Person in accordance with GAAP;

     (e) Liens on cash and Cash Equivalents under or with respect to accounts with brokers or
counterparties with respect to hedging contracts consisting of cash, commodities or futures
contracts, options, securities, instruments and other like assets securing only hedging contracts;

     (f) pledges or deposits in the ordinary course of business in connection with workers’
compensation, unemployment insurance and other social security legislation (other than any Lien
imposed by ERISA), or to secure letters of credit issued with respect thereto;

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

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

     (i) inchoate Liens in respect of pending litigation, or Liens securing judgments for the
payment of money (or securing letters of credit, appeal or other surety bonds related to such
judgments) not constituting an Event of Default under Section 8.01(h);

     (j) Liens arising solely by virtue of any statutory or common law provision relating to
banker’s liens, rights of set-off or similar rights and remedies as to deposit accounts or other
funds maintained with a creditor depository institution; provided, that (i) such deposit account is
not a dedicated cash collateral account and is not subject to restrictions against access by the
Borrower or any Subsidiary in excess of those set forth by regulations promulgated by the Board of
Governors of the Federal Reserve System or pursuant to the Security Documents, and (ii) such
deposit account is not intended by the Borrower or any Subsidiary to provide collateral to the
depository institution;

     (k) Liens arising out of all presently existing and future division and transfer orders,
advance payment agreements, processing contracts, gas processing plant agreements, operating
agreements, gas balancing or deferred production agreements, pooling, unitization or
communitization agreements, pipeline, gathering or transportation agreements, platform agreements,
drilling contracts, injection or repressuring agreements, cycling agreements, construction
agreements, salt water or other disposal agreements, leases or rental agreements, farm-out and
farm-in agreements, exploration and development agreements, and any and all other contracts or
agreements covering, arising out, used or useful in connection with or pertaining to the
exploration, development, operation, production, sale, use, purchase, exchange, storage,
separation, dehydration, treatment, compression, gathering, transportation, processing,
improvement, marketing, disposal, or handling of any oil and gas property of any Loan Party;

     (l) Liens in respect of Operating Leases;

     (m) Liens securing Acquired Indebtedness, provided that (i) each such Lien (A) existed
at the time of its acquisition and was not created in anticipation thereof, or (B) was created
solely for the purpose of securing Indebtedness representing, or incurred to finance, refinance or
refund, the cost (including the cost of construction) of such property or asset, (ii) no such Lien
shall extend to or cover any property or asset of a Restricted Person other than the property or
asset so acquired (or constructed), and any extension, renewal, refinancing, refunding or
replacement (or successive extensions, renewals, refinancings, refundings or replacements), in
whole or part, of the foregoing, and (iii) such Lien shall not secure any additional Indebtedness
and obligations;

     (n) rights reserved to or vested in any Governmental Authority by the terms of any right,
power, franchise, grant, license or permit, or by any provision of Law, to revoke or terminate any
such right, power, franchise, grant, license or permit or to condemn or acquire by eminent domain
or similar process;

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     (o) rights reserved to or vested by Law in any Governmental Authority to in any manner,
control or regulate in any manner any of the properties of any Restricted Person or the use thereof
or the rights and interests of any Restricted Person therein, in any manner under any and all Laws;

     (p) rights reserved to the grantors of any properties of any Restricted Person, and the
restrictions, conditions, restrictive covenants and limitations, in respect thereto, pursuant to
the terms, conditions and provisions of any rights-of-way agreements, contracts or other agreements
therewith; and

     (q) Liens otherwise not permitted herein which secure obligations in an aggregate principal
amount not to exceed at any time outstanding 10% of the Borrower’s Consolidated Net Tangible
Assets.

       7.02 Indebtedness. Create, incur, assume or permit to exist any Indebtedness, except:

     (a) Indebtedness under the Loan Documents;

     (b) Indebtedness of any Restricted Person owing to another Restricted Person;

     (c) Acquired Indebtedness;

     (d) Indebtedness incurred to finance Cash and Carry Purchases;

     (e) Indebtedness under the Pine Prairie Lease and extensions, renewals and replacements of any
such Indebtedness that do not increase the outstanding principal amount thereof except by an amount
equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably
incurred, in connection with such extensions, renewals and replacements; and

     (f) other Indebtedness not otherwise permitted pursuant to the foregoing clauses (a), (b),
(c), (d) and (e) in an aggregate principal amount at any time outstanding not to exceed 10% of the
Borrower’s Consolidated Net Tangible Assets.

     7.03 Fundamental Changes; Dispositions. Merge, dissolve, liquidate, consolidate with or into
another Person, or sell, transfer, lease, exchange or otherwise dispose of (whether in one
transaction or in a series of related transactions) all or substantially all of its assets (whether
now owned or hereafter acquired) to or in favor of any Person, except that, so long as no Default
exists or, upon giving pro forma effect thereto, would immediately result therefrom:

     (a) any Significant Restricted Person may merge, consolidate or amalgamate with another
Person, provided that (i) if such Significant Restricted Person is the Borrower, the
Borrower shall be the acquiring, surviving or continuing entity, and (ii) as to any other
Significant Restricted Person, (x) the Borrower or a Significant Restricted Person is the
acquiring, surviving or continuing entity (or, with respect to any merger, consolidation or
amalgamation involving such Significant Restricted Person, the surviving or continuing entity
becomes a Significant Restricted Person in the transaction) or (y) such merger, consolidation or

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amalgamation is in connection with the sale, transfer, lease exchange or other disposition of all
or substantially all of such Significant Restricted Person’s Equity Interest;

     (b) any Significant Restricted Person other than the Borrower may sell, transfer, lease
exchange or otherwise dispose of all or substantially all of its assets (upon voluntary
liquidation or otherwise); and

     (c) any Significant Restricted Person other than the Borrower may dissolve or liquidate if
such dissolution or liquidation results from dispositions not prohibited by this Agreement.

       7.04 Restricted Payments. Declare or make any Restricted Payment unless no Default or
Event of Default has occurred and is continuing or, immediately after giving effect thereto, would
result therefrom.

       7.05 Change in Nature of Business. Engage in any material line of business substantially
different from (a) any of those lines of business conducted by the Borrower and its Subsidiaries on
the Closing Date or as otherwise described in the Borrower’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2010 filed with the SEC or (b) the businesses of any of
transportation, supply and logistics, and in each case with respect to the foregoing clauses (a)
and (b), any business, activities or services reasonably related or incidental thereto, but in no
event will enter into Swap Contracts except in the ordinary course of its business, with the intent
and for the purpose of mitigating and managing risks and in accordance with the policies described
in the Borrower’s most-recently filed Annual Report on Form 10-K, and not for speculative purposes.

       7.06 Transactions with Affiliates. Enter into any material transaction of any kind with any
Affiliate of the Borrower, whether or not in the ordinary course of business, other than on terms
that are no less favorable to the Borrower or such Restricted Person as would be obtainable by the
Borrower or such Restricted Person at the time in an arm’s length transaction
with a Person other than an Affiliate, provided that the foregoing restriction shall
not apply to any of the following transactions: (a) transactions between or among the Borrower and
any of its Subsidiaries or between and among any Subsidiaries; (b) any employment, equity award,
equity option or equity appreciation agreement or plan entered into by the Borrower or any of its
Subsidiaries in the ordinary course of business of the Borrower or such Subsidiary; (c)
transactions effected in accordance with the terms of tax sharing, management services,
indemnification, omnibus and other agreements with PAA and its Affiliates; (d) customary
compensation, indemnification and other benefits made available to officers, directors or employees
of the Borrower, any of its Subsidiaries or the General Partner, including reimbursement or
advancement of out-of-pocket expenses and provisions of officers’ and directors’ liability
insurance; and (e) transactions as contemplated by the Borrower’s agreement of limited partnership.

     7.07 Burdensome Agreements. Except as expressly provided for in the Loan Documents, as
described in any Schedule hereto or pursuant to a Restriction Exception, the substance of which, in
detail reasonably satisfactory to the Administrative Agent, is promptly reported to Administrative
Agent, enter into any Contractual Obligation that limits the ability (a)

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of any Subsidiary to make
Restricted Payments to the Borrower or otherwise to transfer property to the Borrower, (b) of any
Subsidiary to redeem Equity Interests held in it by the Borrower, (c) of any Subsidiary to repay
loans and other Indebtedness owing by it to the Borrower, (d) of any Subsidiary to guarantee the
payment of Indebtedness of the Borrower or (e) of the Borrower or any Subsidiary to create, incur,
assume or permit to exist Liens on property of such Person, provided, however, that
this clause (e) shall not prohibit any negative pledge incurred or provided in favor of any holder
of Indebtedness secured by (i) Liens permitted under Section 7.01(m), solely to the extent
any such negative pledge relates to the property financed by or the subject of such Indebtedness,
or (ii) Liens securing Indebtedness in respect of Capital Leases, Synthetic Lease Obligations and
purchase money obligations for fixed or capital assets, solely to the extent any such Lien relates
to the property leased thereunder or financed thereby.

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

       7.09 Financial Covenants.

     (a) Consolidated Interest Coverage Ratio. Permit the Consolidated Interest Coverage Ratio as
of the end of any fiscal quarter of the Borrower to be less than 3.00:1.00.

     (b) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as of the end of any
fiscal quarter of the Borrower to be greater than the ratio set forth below opposite such period,
calculated, with respect to Consolidated EBITDA, on a trailing four-quarter basis:

	 	 	 
	 	 	Maximum
	 	 	Consolidated
	Applicable Period	 	Leverage Ratio
	(i) During an Acquisition Period

	 	5.50:1.0
	(ii) Other than during an Acquisition
Period

	 	5.00:1.0

provided; for purposes of this Section 7.09(b), Consolidated EBITDA may include, at
Borrower’s option, any New Cavern EBITDA Adjustments and Material Project EBITDA Adjustments as
provided below.

     As used herein, “New Cavern EBITDA Adjustments” means, with respect to each new gas
storage cavern at the Pine Prairie Storage Facility or the Southern Pines Storage Facility which
achieves commercial operation (the date on which such commercial operation is achieved, the
“New Cavern Commercial Operations Date”) after the Closing Date, an amount submitted by the
Borrower and approved by Administrative Agent as the projected Consolidated EBITDA attributable to
the additional storage capacity attributable to such new gas storage cavern (initially giving pro
forma effect as if such New Cavern Commercial Operations Date occurred on the first day of the
fiscal quarter in which it occurred, and thereafter such pro forma quarterly adjustments rolling
off and being replaced by actual performance on a quarterly basis). New Cavern EBITDA Adjustments
shall be based only on (i) projected revenues from firm fixed-fee

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storage contracts (subject to
adjustments for customer creditworthiness) and tariffs relating to such new cavern, less expenses,
(ii) the New Cavern Commercial Operations Date with respect to each such new cavern, and (iii)
other factors reasonably deemed appropriate by Administrative Agent.

     As used herein, “Material Project EBITDA Adjustments” means, with respect to the
construction or expansion of any capital project of the Borrower or any of its Subsidiaries
(excluding, for the avoidance of doubt, Unrestricted Subsidiaries), the aggregate capital cost of
which (inclusive of capital costs expended prior to the acquisition thereof) is reasonably expected
by Borrower to exceed, or exceeds, $20,000,000 (a “Material Project”):

     (A) prior to the date on which a Material Project has achieved commercial operation
(the “Commercial Operation Date”) (but including the fiscal quarter in which such
Commercial Operation Date occurs), a percentage (based on the then-current completion
percentage of such Material Project) of an amount to be approved by the Administrative Agent
as the projected Consolidated EBITDA attributable to such Material Project for the first
12-month period following the scheduled Commercial Operation Date of such Material Project,
such amount based only on (i) projected revenues from firm fixed-fee contracts (subject to
adjustments for customer creditworthiness) and tariffs relating to such Material Project,
less expenses, (ii) projected Commercial Operations Date (to be no more than 18 months from
the fiscal quarter in which such Material Project EBITDA Adjustment is initially proposed),
and (iii) other factors reasonably deemed appropriate by the Administrative Agent, which
may, at Borrower’s option, be added to actual Consolidated EBITDA for the fiscal quarter in
which construction or expansion of such Material Project commences and for each fiscal
quarter thereafter until the Commercial Operation Date of such Material Project
(including the fiscal quarter in which such Commercial Operation Date occurs, but net
of any actual Consolidated EBITDA attributable to such Material Project following such
Commercial Operation Date); provided that if the actual Commercial Operation Date
does not occur by the scheduled Commercial Operation Date, then the foregoing amount shall
be reduced, for quarters ending after the scheduled Commercial Operation Date to (but
excluding) the first full quarter after its Commercial Operation Date, by the following
percentage amounts depending on the period of delay (based on the period of actual delay or
then-estimated delay, whichever is longer): (i) 90 days or less, 0%, (ii) longer than 90
days, but not more than 180 days, 25%, (iii) longer than 180 days but not more than 270
days, 50%, (iv) longer than 270 days but not more than 365 days, 75%, and (v) longer than
365 days, 100%;

     (B) beginning with the first full fiscal quarter following the Commercial Operation
Date of a Material Project (other than any project for which New Cavern EBITDA Adjustments
following the Commercial Operation Date thereof are to be determined in accordance with the
foregoing paragraph) and for the two immediately succeeding fiscal quarters, an amount to be
approved by the Administrative Agent as the projected Consolidated EBITDA attributable to
such Material Project for the balance of the four full fiscal quarter period following such
Commercial Operation Date, which may, at Borrower’s option, be added to actual Consolidated
EBITDA for such fiscal quarters; and

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     (C) the aggregate amount of all Material Project EBITDA Adjustments during any period
shall be limited to 15% of the total actual Consolidated EBITDA for such period (which total
actual Consolidated EBITDA shall be determined without including any Material Project EBITDA
Adjustments or New Cavern EBITDA Adjustments).

     In addition, for purposes of this Section 7.09, Hybrid Securities up to an aggregate
principal amount of 15% of Consolidated Total Capitalization shall be excluded from Consolidated
Funded Indebtedness.

     Deliverables for Material Project EBITDA Adjustments and New Cavern EBITDA Adjustments

     Borrower shall, no later than three Business Days prior to its delivery of a Compliance
Certificate for any fiscal quarter for which Borrower desires to include New Cavern EBITDA
Adjustments or Material Project EBITDA Adjustments, deliver to Administrative Agent, in form and
substance reasonably satisfactory to Administrative Agent and certified by a financial officer of
the Borrower, written pro forma projections of Consolidated EBITDA attributable to New Cavern
EBITDA Adjustments or Material Project EBITDA Adjustments, and such other related information and
documentation reasonably requested by and reasonably satisfactory to Administrative Agent in all
respects, including with respect to Material Project EBITDA Adjustments, certification as to
Material Project completion percentage, expected Commercial Operations Date and no material delays
with respect thereto.

       7.10 Unrestricted Subsidiaries. So long as no Default or Event of Default has occurred and is
continuing, and immediately after giving effect to such designation on a pro
forma basis, no Default or Event of Default would result therefrom, the Borrower or any
wholly-owned Subsidiary of the Borrower may designate one or more Subsidiaries as unrestricted
Subsidiaries (each such Subsidiary, and each of its Subsidiaries, an “Unrestricted
Subsidiary”), which Unrestricted Subsidiaries shall be subject to the following:

     (a) No Unrestricted Subsidiary shall be deemed to be a “Restricted Person” or a “Subsidiary”
of the Borrower for purposes of this Agreement or any other Loan Document, and no Unrestricted
Subsidiary shall be subject to or included within the scope of any provision herein or in any other
Loan Document, including without limitation any representation, warranty, covenant or Event of
Default herein or in any other Loan Document, except as set forth in this Section 7.10.

     (b) No Restricted Person shall guarantee or otherwise become liable in respect of any
Indebtedness of, grant any Lien on any of its property (other than its Equity Interests in an
Unrestricted Subsidiary) to secure any Indebtedness of or other obligation of, or provide any other
form of credit support to, any Unrestricted Subsidiary, and no Restricted Person shall enter into
any contract or agreement with any Unrestricted Subsidiary, except on terms no less favorable to
such Restricted Person, as applicable, than could be obtained in a comparable arm’s length
transaction with a non-Affiliate of such Restricted Person; provided, Restricted Persons
may guarantee trade accounts payable of Unrestricted Subsidiaries that arise in the ordinary course
of business in an amount not to exceed five percent (5%) of the Borrower’s Consolidated Net
Tangible Assets.

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     (c) Borrowers shall at all times maintain, as between Restricted Persons and Unrestricted
Subsidiaries, the separate existence of each Unrestricted Subsidiary.

     (d) Restricted Persons shall notify each Lender Party, not later than five (5) Business Days
after any executive officer of Restricted Persons has knowledge of, any claim, including any claim
under any Environmental Law, or any notice of potential liability under any Environmental Law,
asserted against any Unrestricted Subsidiary or with respect to any Unrestricted Subsidiary’s
properties that would reasonably be expected to result in a Material Adverse Effect, stating that
such notice is being given pursuant to this Section 7.10.

     Borrower may designate any Unrestricted Subsidiary to become a Restricted Person if a Default
or Event of Default is not continuing, such designation would not, immediately after giving effect
thereto, result in a Default or an Event of Default, and immediately thereafter such Subsidiary has
no outstanding Indebtedness. Immediately thereafter, Borrower shall promptly notify Administrative
Agent of such designation and provide to it an officer’s certificate that such designation was made
in compliance with this Section 7.10.

ARTICLE VIII. EVENTS OF DEFAULT AND REMEDIES

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

     (a) Non-Payment. (i) The Borrower or any other Loan Party fails to pay (A) when due
and payable, any amount of principal of any Loan or any L/C Obligation, or (B) within three
Business Days after the same becomes due and payable, any interest on any Loan or on any L/C
Obligation, or any fee due hereunder pursuant to Section 2.09, or (C) within five Business
Days
after the same becomes due and payable, any other amount payable hereunder or under any other
Loan Document, or (ii) the GO Bond Issuer fails to pay, in accordance with the terms of the GO Bond
Documents (A) when due and payable, any amount of principal of any GO Bond Obligation, or (B)
within three Business Days after the same becomes due and payable, any interest on any GO Bond
Obligation, or (C) within five Business Days after the same becomes due and payable, any other GO
Bond Obligation.

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

     (c) Other Defaults. Any Loan Party fails to perform or comply with any of its
obligations under any other covenant or agreement (not specified in subsection (a) or (b) above)
contained in any Loan Document to which it is a party on its part to be performed or complied with
and such failure continues for 30 days after notice of such failure is given by the Administrative
Agent to the Borrower; or

     (d) Representations and Warranties. Any representation or warranty made or deemed
made by or on behalf of the Borrower or any other Loan Party herein, in any other Loan Document
shall be incorrect when made or deemed made in any material respect; or

     (e) Cross-Default. (i) The Borrower or any Restricted Person (A) fails to make any
payment when due and payable (whether by scheduled maturity, required prepayment, acceleration,
demand, or otherwise) of any principal of or interest on any Indebtedness (other

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than Indebtedness
hereunder and Indebtedness under Swap Contracts) in an aggregate principal amount exceeding the
Threshold Amount, and such failure continues after the passing of the applicable notice and grace
periods, (other than such Indebtedness the validity of which is being contested in good faith, by
appropriate proceedings (if necessary) and for which adequate reserves with respect thereto are
maintained on the books of such Restricted Person as required by GAAP) or (B) fails to observe or
perform 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 occurs, in
each case, beyond the applicable grace, cure, extension, forbearance or similar period, if the
effect of which failure or other event is to cause, or to permit the holder or holders of such
Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause, with the giving
of notice if required, such Indebtedness to be demanded or to become due or to be repurchased,
prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay,
defease or redeem such Indebtedness to be made, prior to its stated maturity; or (ii) there occurs
under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from
(A) any event of default under such Swap Contract as to which the Borrower or any Subsidiary is the
Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event (as so defined)
under such Swap Contract as to which the Borrower or any Subsidiary is an Affected Party (as so
defined) and, in either event, (1) the Swap Termination Value owed by the Borrower or such
Subsidiary as a result thereof is greater than the Threshold Amount (other than amount under such
Swap Contract, the validity of which are being contested in good faith, by appropriate proceedings
(if necessary) and for which adequate reserves with respect thereto are maintained on the books of
such Restricted Person as required by GAAP) and (2) after giving effect to any applicable grace,
cure, extension, forbearance or similar period, the effect of such Early Termination Date is to
cause such Swap
Termination Value to become due and (3) such Swap Termination Value has not been paid when
due; or

     (f) Insolvency Proceedings, Etc. Any Loan Party, any other Significant Restricted
Person or the General Partner institutes or consents to the institution of any proceeding under any
Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents
to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or
similar officer for it or for all or any material part of its property; or any receiver, trustee,
custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the
application or consent of such Person and the appointment continues undischarged or unstayed for 60
calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all
or any material part of its property is instituted without the consent of such Person and continues
undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such
proceeding; or

     (g) Inability to Pay Debts; Attachment. (i) The Borrower or any other Significant
Restricted Person becomes unable or admits in writing its inability or fails generally to pay its
debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process
is issued or levied against all or any material part of the property of any such Person and is not
stayed, released, vacated or fully bonded within 60 days (or such longer period for which a stay of
enforcement is allowed by applicable Law) after its issue or levy; or

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     (h) Judgments. There is entered against any Significant Restricted Person a final
judgment for the payment of money in an aggregate amount (as to all such judgments or orders)
exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as
to which such insurer has not disputed coverage, or self-insurance reasonably acceptable to the
Administrative Agent) at any one time outstanding and prior to the discharge thereof, (i)
enforcement proceedings are lawfully commenced by any creditor upon such judgment, or (ii) there is
a period of 30 consecutive days after the entry of such judgment during which a discharge, stay of
enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect; or

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

     (j) Invalidity of Loan Documents or GO Bond Documents. (i) Any Loan Document, at any
time after its execution and delivery and for any reason other than as expressly permitted
hereunder or thereunder or satisfaction in full of all the payment Obligations, ceases to be in
full force and effect; or any Loan Party contests in any manner the validity or enforceability of
any Loan Document; or any Loan Party denies that it has any or further liability or obligation
under any Loan Document, or purports to revoke, terminate or rescind any Loan Document; or (ii) any
GO Bond Document, at any time after its execution and delivery and for any reason other than as
expressly permitted hereunder or thereunder or satisfaction in full of all the payment GO Bond
Obligations, ceases to be in full force and effect; or the GO Bond Issuer contests in any manner
the validity or enforceability of any GO Bond Document; or the GO Bond Issuer denies that it has
any or further liability or obligation under any GO Bond Document to which it is a party, or
purports to revoke, terminate or rescind any GO Bond Document; and, in the case of any such
occurrence described in this clause (ii), such occurrence has an adverse effect on the Borrower’s
obligations under the Borrower Guaranty; or

     (k) Change of Control. There occurs any Change of Control.

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

     (a) declare the commitment of each Lender to make Loans and any obligation of the L/C Issuer
to make L/C Credit Extensions to be terminated or suspended (as the case may be), whereupon such
commitments and obligation shall be terminated or suspended (as the case may be);

     (b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and
unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document
to be immediately due and payable, without presentment, demand, protest or other

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notice of any
kind, all of which are hereby expressly waived by the Borrower and exercise the GO Bond Put Right
as provided in Section 2.07(c)(ii);

     (c) require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to
the then Outstanding Amount thereof); and

     (d) exercise on behalf of itself, the Lenders and the L/C Issuer all rights and remedies
available to it, the Lenders and the L/C Issuer under the Loan Documents;

provided, however, that upon the occurrence of an actual or deemed entry of an
order for relief with respect to the Borrower under the Bankruptcy Code of the United States, the
obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit
Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and
all interest and other amounts that have accrued and are owing as aforesaid shall automatically
become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C
Obligations as aforesaid shall automatically become effective, in each case without further act of
the Administrative Agent or any Lender.

       8.03 Application of Funds. After the exercise of remedies provided for in Section
8.02 (or after the Loans have automatically become immediately due and payable and the L/C
Obligations have automatically been required to be Cash Collateralized as set forth in the proviso
to Section 8.02), any amounts received on account of the Obligations shall, subject to the
provisions of Sections 2.15 and 2.16, be applied by the Administrative Agent in the
following order:

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

     Second, to payment of that portion of the Obligations constituting fees, indemnities
and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders
and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders
and the L/C Issuer (including fees and time charges for attorneys who may be employees of any
Lender or the L/C Issuer) and amounts payable under Article III), ratably among them in
proportion to the respective amounts described in this clause Second payable to them;

     Third, to payment of that portion of the Obligations constituting accrued and unpaid
Letter of Credit Fees and interest on the Loans, L/C Borrowings and other Obligations, ratably
among the Lenders and the L/C Issuer in proportion to the respective amounts described in this
clause Third payable to them;

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

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     Fifth, to the Administrative Agent for the account of the L/C Issuer, to Cash
Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters
of Credit to the extent not otherwise Cash Collateralized by the Borrower pursuant to Sections
2.03 and 2.15; and

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

Subject to Sections 2.03(c) and 2.15, amounts used to Cash Collateralize the aggregate
undrawn amount of Letters of Credit pursuant to clause Fifth above shall be applied to
satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as
Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining
amount shall be applied to the other payment Obligations, if any, in the order set forth above.

ARTICLE IX. ADMINISTRATIVE AGENT

       9.01 Appointment and Authority. Each of the Lenders and the L/C Issuer hereby irrevocably
appoints Bank of America to act on its behalf as the Administrative Agent hereunder and under the
other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and
to exercise such powers as are delegated to the Administrative Agent by the terms hereof or
thereof, together with such actions and powers as are reasonably incidental thereto, and each of
the GO Bond Term Lenders hereby expressly authorizes the Administrative Agent to execute and
deliver an approval to the First Amendments of even date herewith to each of the GO Bond Loan
Agreements for and behalf of such GO Bond Lender. The provisions of this Article are solely for
the benefit of the Administrative Agent, the Lenders and the L/C Issuer, and the Borrower shall not
have rights as a third party beneficiary of any of such
provisions (other than the right to reasonably approve a successor Administrative Agent
pursuant to Section 9.06).

       9.02 Rights as a Lender. The Person serving as the Administrative Agent hereunder shall have
the same rights and powers in its capacity as a Lender as any other Lender and may exercise the
same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall,
unless otherwise expressly indicated or unless the context otherwise requires, include the Person
serving as the Administrative Agent hereunder in its individual capacity. Such Person and its
Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other
advisory capacity for and generally engage in any kind of business with the Borrower or any
Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder
and without any duty to account therefor to the Lenders.

       9.03 Exculpatory Provisions. The Administrative Agent shall not have any duties or
obligations except those expressly set forth herein and in the other Loan Documents. Without
limiting the generality of the foregoing, the Administrative Agent:

     (a) shall not be subject to any fiduciary or other implied duties, regardless of
whether a Default has occurred and is continuing;

     (b) shall not have any duty to take any discretionary action or exercise any
discretionary powers, except discretionary rights and powers expressly contemplated

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hereby
or by the other Loan Documents that the Administrative Agent is required to exercise as
directed in writing by the Required Lenders (or such other number or percentage of the
Lenders as shall be expressly provided for herein or in the other Loan Documents),
provided that the Administrative Agent shall not be required to take any action
that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to
liability or that is contrary to any Loan Document or applicable law; and

     (c) shall not, except as expressly set forth herein and in the other Loan Documents,
have any duty to disclose, and shall not be liable for the failure to disclose, any
information relating to the Borrower or any of its Affiliates that is communicated to or
obtained by the Person serving as the Administrative Agent or any of its Affiliates in any
capacity.

     The Administrative Agent shall not be liable for any action taken or not taken by it (i) with
the consent or at the request of the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be
necessary, under the circumstances as provided in Sections 11.01 and 8.02) or (ii)
in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall
be deemed not to have knowledge of any Default unless and until notice describing such Default is
given to the Administrative Agent by the Borrower, a Lender or the L/C Issuer.

     The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire
into (i) any statement, warranty or representation made in or in connection with this Agreement,
any other Loan Document or any GO Bond Document or any other agreement, certificate, instrument or
document delivered in connection therewith, (ii) the contents of any
certificate, report or other document delivered hereunder or thereunder or in connection
herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or
other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the
validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document,
any GO Bond Document or any other agreement, instrument or document or (v) the satisfaction of any
condition set forth in Article IV or elsewhere herein, other than to confirm receipt of
items expressly required to be delivered to the Administrative Agent.

       9.04 Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely
upon, and shall not incur any liability for relying upon, any notice, request, certificate,
consent, statement, instrument, document or other writing (including any electronic message,
Internet or intranet website posting or other distribution) believed by it to be genuine and to
have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent
also may rely upon any statement made to it orally or by telephone and believed by it to have been
made by the proper Person, and shall not incur any liability for relying thereon. In determining
compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of
Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the
Administrative Agent may presume that such condition is satisfactory to such Lender or the L/C
Issuer unless the Administrative Agent shall have received notice to the contrary from such Lender
or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. The
Administrative Agent may consult with legal counsel (who may be counsel for the Borrower),
independent accountants and other experts selected by

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it, and shall not be liable for any action
taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

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

     9.06 Resignation or Removal of Administrative Agent. (a) The Administrative Agent may at any
time give notice of its resignation to the Lenders, the L/C Issuer and the Borrower, which notice
shall set forth the proposed date of resignation, which shall be not less than 30 days after the
date of such notice, during which time the Administrative Agent shall continue to act as the
Administrative Agent hereunder, unless sooner replaced or removed in accordance with the provisions
hereof. In addition, at any time the Person serving as Administrative Agent is a Defaulting Lender
pursuant to clause (d) of the definition thereof, the Required Lenders may, to the extent permitted
by applicable law, by notice in writing to the Borrower and such Person, remove such Person as
Administrative Agent. Upon receipt of any such notice of resignation or issuance of notice of
removal, the Required Lenders shall have the right to appoint a successor (subject to the approval
of the Borrower, unless an Event of Default has occurred and is continuing, which approval shall
not be unreasonably withheld), which shall be a bank with an office in the United States, or an
Affiliate of any such bank with an office in
the United States. If no such successor shall have been so appointed by the Required Lenders
and shall have accepted such appointment within 30 days after the retiring Administrative Agent
gives notice of its resignation or the Required Lenders issue such notice of removal, then the
retiring or removed Administrative Agent may on behalf of the Lenders and the L/C Issuer, appoint a
successor Administrative Agent meeting the qualifications set forth above (subject to the approval
of the Borrower, unless an Event of Default has occurred and is continuing, which approval shall
not be unreasonably withheld); provided that if the Administrative Agent shall notify the
Borrower and the Lenders that no qualifying Person has accepted such appointment, then such
resignation or removal shall nonetheless become effective in accordance with such notice and (1)
the retiring or removed Administrative Agent shall be discharged from its duties and obligations
hereunder and under the other Loan Documents (except that in the case of any collateral security
held by the Administrative Agent on behalf of the Lenders or the L/C Issuer under any of the Loan
Documents, the retiring or removed Administrative Agent shall continue to hold such collateral
security until such time as a successor Administrative Agent is appointed) and (2) all payments,
communications and determinations provided to be made by, to or through the Administrative Agent
shall instead be made by or to each Lender and the L/C Issuer directly, until such time as the
Required Lenders appoint a successor Administrative Agent as provided for above in this Section.
Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor
shall succeed to and become vested with all of the rights, powers, privileges and duties of the
retiring (or retired or removed) Administrative Agent, and the retiring or removed Administrative
Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan
Documents (if not already discharged therefrom as

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provided above in this Section). The fees
payable by the Borrower to a successor Administrative Agent shall be the same as those payable to
its predecessor unless otherwise agreed between the Borrower and such successor. After the
retiring Administrative Agent’s resignation or removal hereunder and under the other Loan
Documents, the provisions of this Article and Section 11.04 shall continue in effect for
the benefit of such retiring or removed Administrative Agent, its sub-agents and their respective
Related Parties in respect of any actions taken or omitted to be taken by any of them while the
retiring or removed Administrative Agent was acting as Administrative Agent.

     (b) Any resignation by, or removal of, Bank of America as Administrative Agent pursuant to
this Section shall also constitute its resignation or removal as L/C Issuer and Swing Line Lender.
Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such
successor may succeed to and become vested with all of the rights, powers, privileges and duties of
the retiring or removed L/C Issuer and Swing Line Lender, (b) the retiring or removed L/C Issuer
and Swing Line Lender shall be discharged from all of their respective duties and obligations
hereunder or under the other Loan Documents, and (c) the successor L/C Issuer shall issue letters
of credit in substitution for or in support of the Letters of Credit, if any, outstanding at the
time of such succession or make other arrangements satisfactory to the retiring L/C Issuer to
effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of
Credit.

       9.07 Non-Reliance on Administrative Agent and Other Lenders. Each Lender and the L/C Issuer
acknowledges that it has, independently and without reliance upon the Administrative Agent or any
other Lender or any of their Related Parties and based on such documents and information as it has
deemed appropriate, made its own credit analysis and
decision to enter into this Agreement. Each Lender and the L/C Issuer also acknowledges that
it will, independently and without reliance upon the Administrative Agent or any other Lender or
any of their Related Parties and based on such documents and information as it shall from time to
time deem appropriate, continue to make its own decisions in taking or not taking action under or
based upon this Agreement, any other Loan Document, any GO Bond Document or any related agreement
or any document furnished hereunder or thereunder.

       9.08 No Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the
Bookrunners, Arrangers or Syndication Agents listed on the cover page hereof shall have any powers,
duties or responsibilities under this Agreement or any of the other Loan Documents, except in its
capacity, as applicable, as the Administrative Agent, a Lender or the L/C Issuer hereunder.

       9.09 Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding
under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the
Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall
then be due and payable as herein expressed or by declaration or otherwise and irrespective of
whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and
empowered, by intervention in such proceeding or otherwise

     (a) to file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans, L/C Obligations and all other Obligations that

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are owing
and unpaid and to file such other documents as may be necessary or advisable in order to
have the claims of the Lenders, the L/C Issuer and the Administrative Agent (including any
claim for the reasonable compensation, expenses, disbursements and advances of the Lenders,
the L/C Issuer and the Administrative Agent and their respective agents and counsel and all
other amounts due the Lenders, the L/C Issuer and the Administrative Agent under
Sections 2.03(h) and (i), 2.09 and 11.04) allowed in such
judicial proceeding; and

     (b) to collect and receive any monies or other property payable or deliverable on any
such claims and to distribute the same in accordance with Section 8.03;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such
payments to the Administrative Agent and, in the event that the Administrative Agent shall consent
to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the
Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and
advances of the Administrative Agent and its agents and counsel, and any other amounts due the
Administrative Agent under Sections 2.09 and 11.04, in each case, in accordance
with Section 8.03.

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

       9.10 Collateral Matters. The Lenders and the L/C Issuer irrevocably authorize the
Administrative Agent, at its option and in its discretion, to release any Lien on any property
granted to or held by the Administrative Agent under any Loan Document (i) upon termination of the
Facilities and payment in full of all payment Obligations and GO Bond Obligations (other than
contingent indemnification obligations) and the expiration or termination of all Letters of Credit
(other than Letters of Credit as to which other arrangements satisfactory to the Administrative
Agent and the L/C Issuer shall have been made), (ii) that is sold or to be sold as part of or in
connection with any sale not prohibited hereunder or under any other Loan Document, or (iii)
subject to Section 11.01, if approved, authorized or ratified in writing by the Required
Lenders.

     Upon request by the Administrative Agent at any time, the Required Lenders will confirm in
writing the Administrative Agent’s authority to release its interest in particular types or items
of property pursuant to this Section 9.10.

ARTICLE X. CONTINUING GUARANTY

       10.01 Borrower Guaranty. The Borrower hereby absolutely and unconditionally guarantees, as a
guaranty of payment and not merely as a guaranty of collection, prompt payment when due, whether at
stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times
thereafter, payment of any and all of the payment GO Bond

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Obligations, whether for principal,
interest, premiums, fees, indemnities, damages, costs, expenses or otherwise, owing to the Lender
Parties, and whether arising hereunder or under any other Loan Document or under any GO Bond
Document (including all renewals, extensions, amendments, refinancings and other modifications
thereof and all costs, attorneys’ fees and expenses incurred by the Lender Parties in connection
with the collection or enforcement thereof). The Administrative Agent’s books and records showing
the amount of the payment GO Bond Obligations shall be admissible in evidence in any action or
proceeding, and shall be binding upon the Borrower, and conclusive absent manifest error for the
purpose of establishing the amount of the payment GO Bond Obligations. This Borrower Guaranty
shall not be affected by the genuineness, validity, regularity or enforceability of the GO Bond
Obligations or any instrument or agreement evidencing any GO Bond Obligations , or by the
existence, validity, enforceability, perfection, non-perfection or extent of any collateral
therefor, or by any fact or circumstance relating to the GO Bond Obligations which might otherwise
constitute a defense to the obligations of the Borrower under this Borrower Guaranty, and the
Borrower hereby irrevocably waives any defenses it may now have or hereafter acquire in any way
relating to any or all of the foregoing.

       10.02 Rights of Lenders. The Borrower consents and agrees that the Lender Parties may, at any
time and from time to time, without notice or demand, and without affecting the enforceability or
continuing effectiveness hereof, in each case, unless otherwise set forth herein, including in
respect of Section 11.01: (a) amend, extend, renew, compromise, discharge, accelerate or
otherwise change the time for payment or the terms of the GO Bond Obligations or any part thereof;
(b) take, hold, exchange, enforce, waive, release, fail to perfect, sell, or otherwise dispose of
any security for the payment of this Borrower Guaranty or any GO Bond Obligations; (c) apply such
security and direct the order or manner of sale thereof as the Administrative Agent, the L/C Issuer
and the Lenders in their sole discretion may determine; and
(d) release or substitute one or more of any endorsers or other guarantors of any of the GO
Bond Obligations. Without limiting the generality of the foregoing, the Borrower consents to the
taking of, or failure to take, any action by the Lender Parties which might in any manner or to any
extent vary the risks of the Borrower under this Borrower Guaranty or which, but for this
provision, might operate as a discharge of the Borrower.

     10.03 Collateral Matters. The Borrower waives (a) any defense arising by reason of any
disability or other defense of the GO Bond Issuer or any other guarantor, or the cessation from any
cause whatsoever (including any act or omission of any Lender Party) of the liability of the
Borrower; (b) any defense based on any claim that the Borrower’s obligations exceed or are more
burdensome than those of the GO Bond Issuer; (c) the benefit of any statute of limitations
affecting the Borrower’s liability hereunder; (d) any right to proceed against the GO Bond Issuer,
proceed against or exhaust any security for the GO Bond Obligations, or pursue any other remedy in
the power of any Lender Party whatsoever; (e) any benefit of and any right to participate in any
security now or hereafter held by any Lender Party; and (f) to the fullest extent permitted by law,
any and all other defenses or benefits that may be derived from or afforded by applicable law
limiting the liability of or exonerating guarantors or sureties. The Borrower expressly waives all
setoffs and counterclaims and all presentments, demands for payment or performance, notices of
nonpayment or nonperformance, protests, notices of protest, notices of dishonor and all other
notices or demands of any kind or nature whatsoever with respect to the

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GO Bond Obligations, and
all notices of acceptance of this Borrower Guaranty or of the existence, creation or incurrence of
new or additional GO Bond Obligations.

       10.04 Obligations Independent. The obligations of the Borrower hereunder are those of primary
obligor, and not merely as surety, and are independent of the GO Bond Obligations and the
obligations of any other guarantor, and a separate action may be brought against the Borrower to
enforce this Borrower Guaranty whether or not the GO Bond Issuer or any other person or entity is
joined as a party.

       10.05 Subrogation. The Borrower shall not exercise any right of subrogation, contribution,
indemnity, reimbursement or similar rights with respect to any payments it makes under this
Borrower Guaranty until all of the GO Bond Obligations and any amounts payable under this Borrower
Guaranty have been indefeasibly paid in full and the GO Bond Term Facilities are terminated. If
any amounts are paid to the Borrower in violation of the foregoing limitation, then such amounts
shall be held in trust for the benefit of the Lender Parties and shall forthwith be paid to the
Lender Parties to reduce the amount of the GO Bond Obligations, whether matured or unmatured.

       10.06 Termination; Reinstatement. This Borrower Guaranty is a continuing and irrevocable
guaranty of all payment on the GO Bond Obligations now or hereafter existing and shall remain in
full force and effect until all payment GO Bond Obligations are indefeasibly paid in full in cash
and the GO Bond Term Facilities with respect to the payment GO Bond Obligations are terminated.
Notwithstanding the foregoing, this Borrower Guaranty shall continue in full force and effect or be
revived, as the case may be, if any payment by or on behalf of the GO Bond Issuer or the Borrower
is made, or any of the Lender Parties exercises its right of setoff, in respect of the payment GO
Bond Obligations and such payment or the proceeds of such setoff or any part thereof is
subsequently invalidated, declared to be fraudulent or preferential,
set aside or required (including pursuant to any settlement entered into by any of the Lender
Parties in their discretion) to be repaid to a trustee, receiver or any other party, in connection
with any proceeding under any Debtor Relief Laws or otherwise, all as if such payment had not been
made or such setoff had not occurred and whether or not the Lender Parties are in possession of or
have released this Borrower Guaranty and regardless of any prior revocation, rescission,
termination or reduction. The obligations of the Borrower under this paragraph shall survive
termination of this Borrower Guaranty.

       10.07 Subordination. The Borrower agrees that, upon the occurrence and during the
continuation of an Event of Default, the payment of all Indebtedness of the GO Bond Issuer owing to
the Borrower, whether now existing or hereafter arising, including but not limited to any
obligation of the GO Bond Issuer to the Borrower as subrogee of the Lender Parties or resulting
from the Borrower’s performance under this Borrower Guaranty, shall be subordinated to the
indefeasible payment in full in cash of all payment GO Bond Obligations. Upon the occurrence and
during the continuation of an Event of Default, any such obligation or indebtedness of the GO Bond
Issuer to the Borrower shall be enforced and performance received by the Borrower as trustee for
the Lenders and, upon the written request of the Required Lenders, the proceeds thereof shall be
paid over to the Administrative Agent, for the benefit of the Lenders, on account of the payment GO
Bond Obligations, to be applied in accordance with

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Section 8.03, but without reducing or
affecting in any manner the liability of the Borrower under this Borrower Guaranty.

       10.08 Stay of Acceleration. If acceleration of the time for payment of any of the GO Bond
Obligations is stayed, in connection with any case commenced by or against the Borrower or the GO
Bond Issuer under any Debtor Relief Laws, or otherwise, all such amounts shall nonetheless be
payable by the Borrower upon demand by the Lender Parties.

       10.09 Condition of the GO Bond Issuer. The Borrower acknowledges and agrees that it has the
sole responsibility for, and has adequate means of, obtaining from the GO Bond Issuer such
information concerning the financial condition, business and operations of the GO Bond Issuer and
any such other guarantor as the Borrower requires, and that none of the Lender Parties has any
duty, and the Borrower is not relying on the Lender Parties at any time, to disclose to the
Borrower any information relating to the business, operations or financial condition of the GO Bond
Issuer (the Borrower waiving any duty on the part of the Lender Parties to disclose such
information and any defense relating to the failure to provide the same).

ARTICLE XI. MISCELLANEOUS

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

     (a) waive any condition set forth in Section 4.01(a) without the written consent of
each Lender or, without limiting the generality of the foregoing, waive any condition set forth in
Section 4.02 as to any Credit Extension under the Revolving Credit Facility without the
written consent of the Required Revolving Lenders;

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

     (c) postpone any date fixed by this Agreement or any other Loan Document for any payment
(excluding mandatory prepayments) of principal, interest, fees or other amounts due to the Lenders
(or any of them) hereunder or under any other Loan Document, or amend the definition of “GO Bond
Mandatory Put Date”, without the written consent of each Lender directly affected thereby;
provided, that any such modification to the GO Bond Documents shall be subject to the
receipt of an opinion of bond counsel that such action does not have an adverse effect on the
tax-exempt status of the GO Bonds;

     (d) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C
Borrowing, or (subject to clause (iv) of the second proviso to this Section 11.01) any fees
or other amounts payable hereunder or under any other Loan Document without the written consent of
each Lender directly affected thereby; provided, however, that only the consent of
the

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Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive
any obligation of the Borrower to pay interest or Letter of Credit Fees at the Default Rate, except
with respect to interest on past-due principal of any Loan, which shall require the written consent
of each Lender, or (ii) to amend any financial covenant hereunder (or any defined term used
therein) even if the effect of such amendment would be to reduce the rate of interest on any Loan
or L/C Borrowing or to reduce any fee payable hereunder;

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

     (f) change (i) any provision of this Section or the definition of “Required Lenders” or any
other provision hereof specifying the number or percentage of Lenders required to amend, waive or
otherwise modify any rights hereunder or make any determination or grant any consent hereunder
(other than the definition specified in clause (ii) of this Section 11.01(f)), without the
written consent of each Lender or (ii) the definition of “Required Revolving Lenders”, “Required GO
Bond 2009 Term Lenders” or “Required GO Bond 2010 Term Lenders”, without the written consent of
each Lender under the applicable Facility; or

     (g) release the Borrower from the Borrower Guaranty without the written consent of (i) if such
Facility is the GO Bond 2009 Term Facility, each GO Bond 2009 Term Lender, and (ii) if such
Facility is the GO Bond 2010 Term Facility, each GO Bond 2010 Term Lender;

and, provided further, that (i) no amendment, waiver or consent shall, unless in
writing and signed by the L/C Issuer in addition to the Lenders required above, affect the rights
or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of
Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing
and
signed by the Swing Line Lender in addition to the Lenders required above, affect the rights or
duties of the Swing Line Lender under this Agreement; (iii) no amendment, waiver or consent shall,
unless in writing and signed by the Administrative Agent in addition to the Lenders required above,
affect the rights or duties of the Administrative Agent under this Agreement, any other Loan
Document or any GO Bond Document; (iv) the Fee Letters may be amended, or rights or privileges
thereunder waived, in a writing executed only by the parties thereto, (v) the Borrower Guaranty may
be released upon consents required pursuant to Section 11.01(g) and shall not require the
consent of the Required Lenders, and (vi) to the extent that the GO Bond Documents impose any
additional voting or approval requirements in addition to this Section 11.01 with respect
to amendments, waiver and consents relating to the GO Bonds, no such amendment, waiver or consent
shall be effective unless the applicable terms of the GO Bond Documents shall have been complied
with. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right
to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or
consent which by its terms requires the consent of all Lenders or each affected Lender may be
effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x)
the Revolving Credit Commitment of any Defaulting Lender may not be increased or extended without
the consent of such Revolving Credit Lender and (y) any waiver, amendment or modification requiring
the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender
more adversely than other affected Lenders shall require the consent of such Defaulting Lender.

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       11.02 Notices; Effectiveness; Electronic Communication.

     (a) Notices Generally. Except in the case of notices and other communications
expressly permitted to be given by telephone (and except as provided in subsection (b) below), all
notices and other communications provided for herein shall be in writing and shall be delivered by
hand or overnight courier service, mailed by certified or registered mail or sent by telecopier or
other electronic transmission as follows, and all notices and other communications expressly
permitted hereunder to be given by telephone shall be made to the applicable telephone number, as
follows:

     (i) if to the Borrower, the Administrative Agent, the L/C Issuer or the Swing Line
Lender, to the address, telecopier number, electronic mail address or telephone number
specified for such Person on Schedule 11.02; and

     (ii) if to any other Lender, to the address, telecopier number, electronic mail address
or telephone number specified in its Administrative Questionnaire (including, as
appropriate, notices delivered solely to the Person designated by a Lender on its
Administrative Questionnaire then in effect for the delivery of notices that may contain
material non-public information relating to the Borrower and its Affiliates), if such
questionnaire has been received by the Person sending such notice or communication, or if
such questionnaire has not been received by such sending Person, to such address as may be
reasonably believed to be correct by such sending Person.

Notices and other communications sent by hand or overnight courier service, or mailed by certified
or registered mail, shall be deemed to have been given when received; notices and other
communications sent by telecopier shall be deemed to have been given when sent (except that, if
not given during normal business hours for the recipient, shall be deemed to have been given at the
opening of business on the next business day for the recipient). Notices and other communications
delivered through electronic communications to the extent provided in subsection (b) below, shall
be effective as provided in such subsection (b).

     (b) Electronic Communications. Notices and other communications to the Lenders and
the L/C Issuer hereunder may be delivered or furnished by electronic communication (including
e-mail and Internet or 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
Issuer pursuant to Article II if such Lender or the L/C Issuer, as applicable, has notified
the Administrative Agent and the Borrower that it is incapable of receiving notices under such
Article by electronic communication. The Administrative Agent or the Borrower may, in its
discretion, agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it, provided that approval of such
procedures may be limited to particular notices or communications.

     Unless the Administrative Agent otherwise prescribes, (i) notices and other communications
sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement
from the intended recipient (such as by the “return receipt requested” function, as available,
return e-mail or other written acknowledgement), provided that if such notice or other
communication is not sent during the normal business hours of the recipient, such

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notice or
communication shall be deemed to have been sent at the opening of business on the next business day
for the recipient, and (ii) notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as
described in the foregoing clause (i) of notification that such notice or communication is
available and identifying the website address therefor.

     (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR
THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE
BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR
FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its
Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any
Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of
any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the
Administrative Agent’s transmission of Borrower Materials through the Internet, except to the
extent that such losses, claims, damages, liabilities or expenses have resulted from such Agent
Party’s gross negligence, willful misconduct or material breach of any of its obligations under any
Loan Document; provided, however, that in no event shall any party hereto, Related
Party of any party hereto or Agent Party have any liability to each other party hereto, its Related
Parties, any Agent Party or any other Person for indirect, special, incidental, consequential or
punitive damages (as opposed to direct or actual damages).

     (d) Change of Address, Etc. Each of the Borrower, the Administrative Agent, the L/C
Issuer and the Swing Line Lender may change its address, telecopier or telephone number for notices
and other communications hereunder by notice to the other parties hereto. Each other Lender may
change its address, telecopier or telephone number for notices and other communications hereunder
by notice to the Borrower, the Administrative Agent, the L/C Issuer and the Swing Line Lender. In
addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that
the Administrative Agent has on record (i) an effective address, contact name, telephone number,
telecopier number and electronic mail address to which notices and other communications may be sent
and (ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees to
cause at least one individual at or on behalf of such Public Lender to at all times have selected
the “Private Side Information” or similar designation on the content declaration screen of the
Platform in order to enable such Public Lender or its delegate, in accordance with such Public
Lender’s compliance procedures and applicable Law, including United States Federal and state
securities Laws, to make reference to Borrower Materials that are not made available through the
“Public Side Information” portion of the Platform and that may contain material non-public
information with respect to the Borrower or its Subsidiaries or their respective securities for
purposes of United States Federal or state securities laws.

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     (e) Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative
Agent, the L/C Issuer and the Lenders shall be entitled to rely and act upon any notices (including
a telephonic GO Bond Term Loan Notice, telephonic Revolving Credit Loan Notices and Swing Line Loan
Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made
in a manner specified herein, were incomplete or were not preceded or followed by any other form of
notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any
confirmation thereof. The Borrower shall indemnify the Administrative Agent, the L/C Issuer, each
Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities
resulting from the reliance by such Person on each notice purportedly given by or on behalf of the
Borrower, as provided in Section 11.04(b). All telephone notices to and other telephonic
communications with the Administrative Agent may be recorded by any person a party thereto, and
each of the parties hereto consent to such recording.

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

     Notwithstanding anything to the contrary contained herein or in any other Loan Document or in
any GO Bond Document, but subject to Section 9.14 of the respective GO Bond Indentures, the
authority to enforce rights and remedies hereunder and under the other Loan Documents against the
Loan Parties or any of them and under the GO Bond Documents against the GO Bond Issuer shall be
vested exclusively in, and all actions and proceedings at law in connection with such enforcement
shall be instituted and maintained exclusively by, the Administrative Agent in accordance with
Section 8.02 for the benefit of all the Lenders and the
L/C Issuer; provided, however, that the foregoing shall not prohibit (a) the
Administrative Agent from exercising on its own behalf the rights and remedies that inure to its
benefit (solely in its capacity as Administrative Agent) hereunder, under the other Loan Documents
and under the GO Bond Documents, (b) the L/C Issuer or the Swing Line Lender from exercising the
rights and remedies that inure to its benefit (solely in its capacity as L/C Issuer or Swing Line
Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender from
exercising setoff rights in accordance with Section 11.08 (subject to the terms of
Section 2.13), (d) any Lender from filing proofs of claim or appearing and filing pleadings
on its own behalf during the pendency of a proceeding relative to any Loan Party or the GO Bond
Issuer under any Debtor Relief Law or (e) the GO Bond Trustee from performing any action or duty
required by applicable Law or usual and customary requirements of a Person serving as a “trustee”
with respect to comparable types of debt instruments; and provided, further, that
if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan
Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the
Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth
in clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.13, any
Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to
it and as authorized by the Required Lenders. All Obligations which are incurred by two or more
Loan Parties shall be their joint and several obligations and liabilities of such Loan Parties.

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       11.04 Expenses; Indemnity; Damage Waiver.  

     (a) Costs and Expenses. The Borrower shall pay (i) all reasonable out-of-pocket
expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees,
charges and disbursements of counsel for the Administrative Agent), in connection with the
preparation, negotiation, execution, delivery and administration of this Agreement, the other Loan
Documents and the GO Bond Documents or any amendments, modifications or waivers of the provisions
hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be
consummated), (ii) all reasonable out-of-pocket expenses incurred by the L/C Issuer in connection
with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for
payment thereunder and (iii) all out-of-pocket expenses incurred by the Administrative Agent, any
Lender or the L/C Issuer (including the fees, charges and disbursements of any counsel for the
Administrative Agent, any Lender or the L/C Issuer), in connection with the enforcement or
protection of its rights (A) in connection with this Agreement, the other Loan Documents and the GO
Bond Documents, including its rights under this Section, or (B) in connection with the Loans made
or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during
any workout, restructuring or negotiations in respect of such Loans or Letters of Credit, other
than expenses of a Defaulting Lender proximately caused by conduct, acts or omissions described in
clauses (a), (b) or (c) of the definition of “Defaulting Lender”.

     (b) Indemnification by the Borrower. The Borrower shall indemnify the Administrative
Agent (and any sub-agent thereof), each Lender and the L/C Issuer (each such Person being called an
“Indemnitee”) against any and all liabilities, obligations, claims, losses, damages,
penalties, fines, actions, judgments, suits, settlements, costs, expenses or disbursements
(including reasonable fees of attorneys, accountants, experts and advisors) of any kind or nature
whatsoever (in this section collectively called “liabilities and costs”) which to any extent (in
whole or in part) may be imposed on, incurred by, or asserted against such Lender Party
growing out of, resulting from or in any other way associated with the Loan Documents or GO Bond
Documents and the transactions and events (including the enforcement or defense thereof) at any
time associated therewith or contemplated therein and the Borrower’s use of Loan proceeds (whether
arising in contract or in tort or otherwise and including any violation or noncompliance with any
Environmental Laws by any Indemnitee or any other Person or any liabilities or duties of any
Indemnitee or any other Person with respect to Hazardous Materials found in or released into the
environment). In the case of an investigation, litigation or proceeding to which the indemnity in
this Section 11.04 applies, such indemnity shall be effective whether or not such
investigation, litigation or proceeding is brought by the Borrower, any of its equity holders,
Affiliates or creditors or an Indemnitee or any third party and whether or not an Indemnitee is
otherwise a party thereto.

     (c) THE FOREGOING INDEMNIFICATION SHALL APPLY WHETHER OR NOT SUCH LIABILITIES AND COSTS ARE IN
ANY WAY OR TO ANY EXTENT OWED, IN WHOLE OR IN PART, UNDER ANY CLAIM OR THEORY OF STRICT LIABILITY
OR CAUSED, IN WHOLE OR IN PART, BY ANY NEGLIGENT ACT OR OMISSION OF ANY KIND BY ANY INDEMNITEE,
provided only that no Indemnitee shall be entitled under this section to receive indemnification
for that portion, if any, of any liabilities and costs which (i) is proximately caused by its own
(A) individual gross negligence or willful

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misconduct, as determined by a court of competent
jurisdiction in a final judgment, or (B) material breach of any of its obligations hereunder, under
any other Loan Documents or under any GO Bond Documents, as determined by a court of competent
jurisdiction in a final judgment, (ii) arises by reason of a claim (A) by any one or more
Indemnitees against any one or more other Indemnitees or (B) by an equity-interest owner of any
Indemnitee against any one or more Indemnitees, so long as in either such case, such claim is not
proximately caused solely by the breach hereunder, under any other Loan Document or under any GO
Bond Document by the Borrower or its Affiliates or (iii) are incurred by an Indemnitee that is a
Defaulting Lender, and such liabilities or costs are proximately caused by conduct, acts or
omissions described in clauses (a), (b) or (c) of the definition of
“Defaulting Lender”. If any Person (including the Borrower or any of its Affiliates) ever alleges
gross negligence or willful misconduct pursuant to the preceding clause (i)(A) (but, for the
avoidance of doubt, not with respect to an allegation of a material breach pursuant to the
preceding clause (i)(B)) by any Indemnitee, the indemnification provided for in this section shall
nonetheless be paid upon demand, subject to later adjustment or reimbursement, until such time as a
court of competent jurisdiction enters a final judgment as to the extent and effect of the alleged
gross negligence or willful misconduct. As used in this section the term “Indemnitee” shall refer
not only to each Person designated as a Lender Party in Section 1.01 but also to each
director, officer, trustee, agent, attorney, employee, representative and Affiliate of such
Persons. So long as no Default has occurred and is continuing and the Borrower is financially
solvent, no Indemnitee may settle any claim to be indemnified without the consent of the Borrower,
such consent not to be unreasonably withheld; provided that the Borrower may not reasonably
withhold consent to any settlement that an Indemnitee proposes, if the Borrower does not have the
financial ability to pay all its obligations outstanding and asserted against the Borrower at that
time, including the maximum potential claims against the Indemnitee to be indemnified pursuant to
this Section 11.04.

     (d) Reimbursement by Lenders. To the extent that the Borrower for any reason fails to
indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it
to the Administrative Agent (or any sub-agent thereof), the L/C Issuer or any applicable Related
Party of any of the foregoing, without affecting the Borrower’s payment obligations with respect
thereto, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent),
the L/C Issuer or such Related Party, as the case may be, such Lender’s Applicable Percentage
(determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)
of such unpaid amount, provided that the unreimbursed expense or indemnified loss, claim,
damage, liability or related expense, as the case may be, was incurred by or asserted against the
Administrative Agent (or any such sub-agent) or the L/C Issuer in its capacity as such, or against
any Related Party of any of the foregoing acting for the Administrative Agent (or any such
sub-agent) or L/C Issuer in connection with such capacity. The obligations of the Lenders under
this subsection (d) are subject to the provisions of Section 2.12(d).

     (e) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, no party hereto or Related Party of any party hereto shall assert, and hereby
waives, any claim against each other party hereto and its Related Parties (including, as
applicable, each Indemnitee), on any theory of liability, for special, indirect, consequential or
punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as
a result of, this Agreement, any other Loan Document, any GO Bond Document or any

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agreement or
instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter
of Credit or the use of the proceeds thereof. No Indemnitee referred to in subsection (b) above
shall be liable for any damages arising from the use by unintended recipients of any information or
other materials distributed by it through telecommunications, electronic or other information
transmission systems in connection with this Agreement or the other Loan Documents or the GO Bond
Documents or the transactions contemplated hereby or thereby other than as a result of such
Indemnitee’s gross negligence, willful misconduct or material breach of any of its obligations
under any Loan Document or under any GO Bond Document.

     (f) Payments. All amounts due under this Section shall be payable not later than ten
Business Days after demand therefor and the Borrower’s receipt of reasonably detailed invoices or
statements related thereto.

     (g) Survival. The agreements in this Section shall survive the resignation of the
Administrative Agent, the L/C Issuer and the Swing Line Lender, the replacement of any Lender, the
termination of the Revolving Credit Facility and the repayment, satisfaction or discharge of all
the other Obligations.

       11.05 Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is
made to the Administrative Agent, the L/C Issuer or any Lender, or the Administrative Agent, the
L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such
setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential,
set aside or required (including pursuant to any settlement entered into by the Administrative
Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any
other party, in connection with any proceeding under any
Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or
part thereof originally intended to be satisfied shall be revived and continued in full force and
effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender
and the L/C Issuer severally agrees to pay to the Administrative Agent upon demand its applicable
share (without duplication) of any amount so recovered from or repaid by the Administrative Agent,
plus interest thereon from the date of such demand to the date such payment is made at a rate per
annum equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders
and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of
the Obligations and the termination of this Agreement.

       11.06 Successors and Assigns.

     (a) Successors and Assigns Generally. The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its
rights or obligations hereunder without the prior written consent of the Administrative Agent and
each Lender and no Lender may assign or otherwise transfer any of its rights or obligations
hereunder except (i) to an assignee in accordance with the provisions of subsection (b) of this
Section, (ii) by way of participation in accordance with the provisions of subsection (d) of this
Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions
of subsection (f) of this Section (and any other attempted assignment or transfer by any party
hereto

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shall be null and void). Nothing in this Agreement, expressed or implied, shall be
construed to confer upon any Person (other than the parties hereto, their respective successors and
assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section
and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative
Agent, the L/C Issuer and the Lenders) any legal or equitable right, remedy or claim under or by
reason of this Agreement.

     (b) Assignments by Lenders.
Notwithstanding anything to the contrary contained in
this Section 11.06 or otherwise in this Agreement, assignments, participations and other
transfers of GO Bond Term Loans or GO Bonds, or in respect to any other documents, instruments or
agreements included in the GO Bond Documents, and rights and obligations thereunder, shall comply
in all respects with the applicable terms and conditions of the respective GO Bond Documents and in
the event any such term or condition shall conflict with this Section 11.06, such
assignment, participation or other transfer shall not be subject to the terms and conditions of
this Section 11.06, and in connection with, but not in limitation of, the foregoing, the
term “Lender” as used in Sections 11.06(b) — (f) shall in such event exclude any
reference to any GO Bond Term Lender and shall be limited to the Revolver Credit Lenders and the
term “Loans” as used in Sections 11.06(b) — (f) shall in such event exclude any
reference to any GO Bond Term Loan. In furtherance of the foregoing, the parties hereto agree that
in such event the Administrative Agent shall have no duties or obligations with respect to any
assignments, participations and other transfers of GO Bond Term Loans or GO Bonds, or in respect to
any other documents, instruments or agreements included in the GO Bond Documents, and rights and
obligation thereunder, and in such event shall not be required to maintain any
such transactions in any register it maintains or is otherwise required to maintain in
connection with the transactions contemplated by this Agreement. Any Lender may at any time
assign to one or more Eligible Assignees all or a portion of its rights and obligations under this
Agreement (including, subject to the foregoing, its GO Bond Term Loans) (including all or a portion
of its Revolving Credit Commitment and the Loans (including for purposes of this subsection (b),
participations in L/C Obligations and in Swing Line Loans) at the time owing to it);
provided that any such assignment shall be subject to the following conditions:

     (i) Minimum Amounts.

     (A) in the case of an assignment of the entire remaining amount of the
assigning Lender’s Revolving Credit Commitment and the Loans at the time owing to it
under the Facilities or in the case of an assignment to a Lender, an Affiliate of a
Lender or an Approved Fund, no minimum amount need be assigned; and

     (B) in any case not described in subsection (b)(i)(A) of this Section, the
aggregate amount of the Revolving Credit Commitment (which for this purpose includes
Loans outstanding thereunder) or, if the Revolving Credit Commitment is not then in
effect, the principal outstanding balance of the Loans

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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
or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade
Date, shall not be less than $5,000,000 in the case of any Facility unless each of
the Administrative Agent and, so long as no Event of Default has occurred and is
continuing, the Borrower otherwise consents (each such consent not to be
unreasonably withheld or delayed); provided, however, that
concurrent assignments to members of an Assignee Group and concurrent assignments
from members of an Assignee Group to a single Eligible Assignee (or to an Eligible
Assignee and members of its Assignee Group) will be treated as a single assignment
for purposes of determining whether such minimum amount has been met.

     (ii) Proportionate Amounts. Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and obligations
under this Agreement with respect to the Loans or the Revolving Credit Commitment assigned,
except that this clause (ii) shall not (A) apply to rights in respect of the Swing Line
Lender’s rights and obligations in respect of Swing Line Loans or (B) prohibit any Lender
from assigning all or a portion of its rights and obligations among separate Facilities on a
non-pro rata basis;

     (iii) Required Consents. No consent shall be required for any such assignment
except to the extent required by subsection (b)(i)(B) of this Section and, in
addition:

     (A) the consent of the Borrower (such consent not to be unreasonably withheld)
shall be required unless (1) an Event of Default has occurred and is
continuing at the time of such assignment or (2) such assignment is to a Lender
with a Revolving Credit Commitment or GO Bond Term Loan; provided
that the Borrower shall be deemed to have consented to any such assignment unless it
shall object thereto by written notice to the Administrative Agent within five (5)
Business Days after having received notice thereof;

     (B) the consent of the Administrative Agent (such consent not to be
unreasonably withheld or delayed) shall be required for assignments in respect of
any Revolving Credit Commitment if such assignment is to a Person that is not a
Lender with a Revolving Credit Commitment, an Affiliate of such Lender or an
Approved Fund with respect to such Lender;

     (C) the consent of the L/C Issuer (such consent not to be unreasonably withheld
or delayed) shall be required for any assignment that increases the obligation of
such assignee to participate in exposure under one or more Letters of Credit
(whether or not then outstanding); and

     (D) the consent of the Swing Line Lender (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment in respect of the
Revolving Credit Facility.

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     (iv) Assignment and Assumption. The parties to each assignment permitted by
Section 11.06(b) shall execute and deliver to the Administrative Agent an Assignment
and Assumption, together with a processing and recordation fee in the amount of $3,500;
provided, however, that the Administrative Agent may, in its sole
discretion, elect to waive such processing and recordation fee in the case of any
assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent
an Administrative Questionnaire.

     (v) No Assignment to Certain Persons. No such assignment shall be made (A) to
the Borrower or any of the Borrower’s Affiliates or Subsidiaries, or (B) to any Defaulting
Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder,
would constitute any of the foregoing Persons described in this clause (B), or (C) to a
natural person.

     (vi) Certain Additional Payments. In connection with any assignment of rights
and obligations of any Defaulting Lender hereunder, no such assignment shall be effective
unless and until, in addition to the other conditions thereto set forth herein, the parties
to the assignment shall make such additional payments to the Administrative Agent in an
aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright
payment, purchases by the assignee of participations or subparticipations, or other
compensating actions, including funding, with the consent of the Borrower and the
Administrative Agent, the applicable pro rata share of Loans previously requested but not
funded by the Defaulting Lender, to each of which the applicable assignee and assignor
hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then
owed by such Defaulting Lender to the Administrative Agent or any Lender hereunder (and
interest accrued thereon) and (y) acquire (and fund
as appropriate) its full pro rata share of all Loans and participations in Letters of
Credit and Swing Line Loans in accordance with its Applicable Percentage. Notwithstanding
the foregoing, in the event that any assignment of rights and obligations of any Defaulting
Lender hereunder shall become effective under applicable Law without compliance with the
provisions of this paragraph, then the assignee of such interest shall be deemed to be a
Defaulting Lender for all purposes of this Agreement until such compliance occurs.

Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c)
of this Section, from and after the effective date specified in each Assignment and Assumption, the
assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned
by such Assignment and Assumption, have the rights and obligations of a Lender under this
Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by
such Assignment and Assumption, be released from its obligations under this Agreement (and, in the
case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations
under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be
entitled to the benefits of Sections 3.01, 3.04, 3.05, and 11.04
with respect to facts and circumstances occurring prior to the effective date of such assignment.
Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender
against receipt by the Borrower of the cancelled original Note of the assignor, if its entire
Revolving Credit Commitment was assigned, or evidence that such assignor’s Note is marked to

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reflect its reduction. Any assignment or transfer by a Lender of rights or obligations under this
Agreement that does not comply with this subsection shall be treated for purposes of this Agreement
as a sale by such Lender of a participation in such rights and obligations in accordance with
subsection (d) of this Section.

     (c) Register. The Administrative Agent, acting solely for this purpose as an agent of
the Borrower (and such agency being solely for tax purposes), shall maintain at the Administrative
Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the
recordation of the names and addresses of the Lenders, and the Revolving Credit Commitments of, and
principal amounts (and stated interest) of the Loans and L/C Obligations owing to, each Lender
pursuant to the terms hereof from time to time and recordation of Assignments and Assumptions (the
“Register”). The entries in the Register shall be conclusive absent manifest error, and
the Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded
in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this
Agreement, notwithstanding notice to the contrary. In addition, the Administrative Agent shall
maintain on the Register information regarding the designation, and revocation of designation, of
any Lender as a Defaulting Lender. The Register shall be available for inspection by the Borrower
and any Lender, at any reasonable time and from time to time upon reasonable prior notice, and the
Administrative Agent shall provide a copy of the Register upon the Borrower’s or such Lender’s
requrest.

     (d) Participations. Any Lender may at any time, without the consent of, or notice to,
the Borrower or the Administrative Agent, sell participations to any Person (other than a natural
person, a Defaulting Lender or the Borrower or any of the Borrower’s Affiliates or Subsidiaries)
(each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations
under this Agreement (including all or a portion of its Revolving Credit Commitment and/or the
Loans
(including such Lender’s participations in L/C Obligations and/or Swing Line Loans) owing to
it); provided that (i) such Lender’s obligations under this Agreement shall remain
unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations and (iii) the Borrower, the Administrative Agent, the Lenders and
the L/C Issuer shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement.

     Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided that such
agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, waiver or other modification described in the first proviso to
Section 11.01 that affects such Participant. Subject to subsection (e) of this Section,
the Borrower agrees that each Participant shall be entitled to the benefits of Sections
3.01, 3.04 and 3.05 (subject to the requirements and limitations therein,
including the requirements under Section 3.01 (it being understood that the documentation
required under Section 3.01 shall be delivered to the participating Lender) and the
obligations imposed by such Sections and shall be subject to replacement pursuant to Section
3.06 to the same extent as if it were a Lender and had acquired its interest by assignment
pursuant to subsection (b) of this Section. Each Lender that sells a participation agrees, at such
Lender’s request and expense, to use reasonable efforts to cooperate with the Borrower to
effectuate the provisions of Section 3.06 with respect to any

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Participant. To the extent
permitted by law, each Participant also shall be entitled to the benefits of Section 11.08
as though it were a Lender, provided such Participant agrees to be subject to Section
2.13 as though it were a Lender. Each Lender that sells a participation shall, solely for tax
purposes, maintain a register on which it enters the name and address of each Participant in such
Lender’s Loans and the principal amounts (and stated interest) of each such Participant’s interest
in such Lender’s Loans or other obligations under the Loan Documents (the “Participant
Register”); provided that no Lender shall have any obligation to disclose all or any
portion of its Participant Register to any Person (including the identity of any Participant or any
information relating to a Participant’s interest in such Lender’s commitments, loans, letters of
credit or its other obligations under any Loan Document) except to the extent that such disclosure
is necessary to establish that such commitment, loan, letter of credit or other obligation is in
registered form under Section 5f.103-1(c) of the Treasury regulations. The entries in the
Participant Register shall be conclusive absent manifest error, and such Lender shall treat each
Person whose name is recorded in such Lender’s Participant Register as the owner of such
participation for all purposes of this Agreement notwithstanding any notice to the contrary. For
the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall
have no responsibility for maintaining a Participant Register.

     (e) Limitations upon Participant Rights. A Participant shall not be entitled to
receive any greater payment under Section 3.01, 3.04 or 3.05 than the
applicable Lender would have been entitled to receive with respect to the participation sold to
such Participant, unless the sale of the participation to such Participant is made with the
Borrower’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender
shall not be entitled to the benefits of Section 3.01 unless the Borrower is notified of
the participation sold to such Participant and such Participant agrees, for the benefit of the
Borrower, to comply and complies with Section 3.01(e) as though it were a Lender.

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

     (g) Resignation as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding
anything to the contrary contained herein, if at any time Bank of America assigns all of its
Revolving Credit Commitment and Revolving Credit Loans pursuant to subsection (b) above, Bank of
America may, (i) upon 30 days’ notice to the Borrower and the Lenders, resign as L/C Issuer and/or
(ii) upon 30 days’ notice to the Borrower, resign as Swing Line Lender. In the event of any such
resignation as L/C Issuer or Swing Line Lender, the Borrower shall be entitled to appoint from
among the Lenders a successor L/C Issuer (subject to such successor’s acceptance) or Swing Line
Lender (subject to such successor’s acceptance) hereunder; provided, however, that
no failure by the Borrower to appoint any such successor shall affect the resignation of Bank of
America as L/C Issuer or Swing Line Lender, as the case may be. If Bank of America resigns as L/C
Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder
with respect to all Letters of Credit outstanding as of the effective date of its resignation as
L/C Issuer and all L/C Obligations with respect thereto

110

 

(including the right to require the Lenders
to make Base Rate Revolving Credit Loans or fund risk participations in Unreimbursed Amounts
pursuant to Section 2.03(c)). If Bank of America resigns as Swing Line Lender, it shall
retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line
Loans made by it and outstanding as of the effective date of such resignation, including the right
to require the Lenders to make Base Rate Revolving Credit Loans or fund risk participations in
outstanding Swing Line Loans pursuant to Section 2.04(c). Upon the appointment of a
successor L/C Issuer and/or Swing Line Lender, (a) such successor shall succeed to and become
vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing
Line Lender, as the case may be, and (b) the successor L/C Issuer shall issue letters of credit in
substitution for the Letters of Credit, if any, outstanding at the time of such succession or make
other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of
America with respect to such Letters of Credit.

     (h) Lost Notes. Upon receipt of an affidavit reasonably satisfactory to the Borrower
of an officer of any Lender as to the loss, theft, destruction or mutilation of its Note which is
not of public record, and, in the case of any such loss, theft, destruction or mutilation, upon
cancellation of such Note, the Borrower will execute and deliver, in lieu thereof, a replacement
Note in the principal amount of such Lender’s then Revolving Credit Commitment or if no Revolving
Credit Commitment is in effect, the outstanding principal amount owed to such Lender and otherwise
of like tenor.

       11.07 Treatment of Certain Information; Confidentiality. Each of the Administrative Agent,
the Lenders and the L/C Issuer (for itself and each of its Related Parties) agrees to maintain the
confidentiality of the Information (as defined below), except that Information may be disclosed (a)
to its Affiliates and to its and its Affiliates’ respective partners, directors, officers,
employees, agents, trustees, advisors and representatives (it being understood that the Persons to
whom such disclosure is made will be informed of the confidential nature of
such Information and instructed to keep such Information confidential and will maintain such
confidences), (b) to the extent requested or required by applicable laws or regulations or by any
subpoena or similar legal process, including in connection with any pledge or assignment made
pursuant to Section 11.06(f), (c) subject to this Section 11.07, to any other party
hereto, (d) in connection with the exercise of any remedies hereunder or under any other Loan
Document or any action or proceeding relating to this Agreement or any other Loan Document or in
connection with any Default or anticipated Default, the enforcement of rights hereunder or
thereunder, (e) subject to an agreement containing provisions substantially the same as those of
this Section, to (i) any assignee of or Participant in, or any prospective assignee of or
Participant in, any of its rights or obligations under this Agreement or any Proposed Lender
invited to be a Lender pursuant to Section 2.14(c) or (ii) any actual or prospective
counterparty (or its advisors) to any swap or derivative transaction relating to, and requested by,
the Borrower and its obligations, (f) with the consent of the Borrower or (g) to the extent such
Information (x) becomes publicly available other than as a result of a breach of this Section or
(y) becomes available to the Administrative Agent, any Lender, the L/C Issuer or any of their
respective Affiliates on a nonconfidential basis from a source other than the Borrower.

     For purposes of this Section, “Information” means all information received from the Borrower
or any Subsidiary relating to the Borrower or any Subsidiary or any Affiliate of any of them, or
any of their respective businesses, other than any such information that is available to

111

 

the Administrative Agent, any Lender or the L/C Issuer on a nonconfidential basis prior to disclosure
by the Borrower or any Subsidiary, provided that, in the case of information received from the
Borrower or any Subsidiary after the date hereof, such information is clearly identified at the
time of delivery as confidential. Any Person required to maintain the confidentiality of
Information as provided in this Section shall be considered to have complied with its obligation to
do so if such Person has exercised the same degree of care to maintain the confidentiality of such
Information as such Person would accord to its own confidential information.

     Each of the Administrative Agent, the Lenders and the L/C Issuer acknowledges that (a) the
Information may include material non-public information concerning the Borrower or a Subsidiary, as
the case may be, (b) it has developed compliance procedures regarding the use of material
non-public information and (c) it will handle such material non-public information in accordance
with applicable Law, including United States Federal and state securities Laws.

       11.08 Right of Setoff. At any time and from time to time during the continuance of any Event
of Default, each Lender and the L/C Issuer is hereby authorized, to the fullest extent permitted by
applicable law, to set off and apply against the payment Obligations then due and payable (without
notice to any Restricted Person), any and all deposits (general or special, time or demand,
provisional or final, in whatever currency) at any time held and other obligations (in whatever
currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the
credit or the account of the Borrower; provided, that in the event that any Defaulting Lender shall
exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the
Administrative Agent for further application in accordance with the provisions of Section
2.16 and, pending such payment, shall be segregated by such Defaulting Lender from its other
funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders, and (y)
the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in
reasonable detail the Obligations owing to such Defaulting
Lender as to which it exercised such right of setoff. The rights of each Lender, the L/C
Issuer and their respective Affiliates under this Section are in addition to other rights and
remedies (including other rights of setoff) that such Lender, the L/C Issuer or their respective
Affiliates may have. Each Lender and the L/C Issuer agrees to notify the Borrower and the
Administrative Agent promptly after any such setoff and application, provided that the
failure to give such notice shall not affect the validity of such setoff and application.

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

112

 

       11.10 Counterparts; Integration; Effectiveness. This Agreement may be executed in
counterparts (and by different parties hereto in different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.
This Agreement and the other Loan Documents constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in
Section 4.01, this Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the Administrative Agent shall have received counterparts hereof
that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an
executed counterpart of a signature page of this Agreement by telecopy or other electronic imaging
means shall be effective as delivery of a manually executed counterpart of this Agreement.

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

       11.12 Severability. If any provision of this Agreement or the other Loan Documents is held to
be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the
remaining provisions of this Agreement and the other Loan Documents shall not be affected or
impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the
illegal, invalid or unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the illegal, invalid or unenforceable provisions. The
invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. Without limiting the foregoing provisions of this
Section 11.12, if and to the extent that the enforceability of any provisions in this
Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in
good faith by the Administrative Agent, the L/C Issuer or the Swing Line Lender, as applicable,
then such provisions shall be deemed to be in effect only to the extent not so limited.

     11.13 Replacement of Lenders. If (i) any Lender requests compensation under Section
3.04 or gives a notice pursuant to Section 3.02 and does not subsequently designate a
different Lending Office or assign its rights and obligations hereunder to another of its offices,
branches or affiliates as provided in Section 3.06(a), (ii) the Borrower is required to pay
any additional amount to any Lender or any Governmental Authority for the account of any Lender
pursuant to Section 3.01, (iii) any Lender is a Defaulting Lender, (iv) any Lender fails to
consent to an election, consent, amendment, waiver or other modification to this Agreement or any
other Loan Document that requires the consent of (A) the Required Lenders, and such election,
consent, amendment, waiver or other modification is otherwise consented to by the Required Lenders,
or (B) all Lenders (or all Lenders directly affected thereby), and such election, consent,

113

 

amendment, waiver or other modification is otherwise consented to by Supermajority Lenders, or (v)
any other circumstance exists hereunder that gives the Borrower the right to replace a Lender as a
party hereto, then the Borrower may, at its sole expense and effort, upon notice to such Lender and
the Administrative Agent, require such Lender to assign and delegate, without recourse (in
accordance with and subject to the restrictions contained in, and consents required by, Section
11.06), all of its interests, rights and obligations under this Agreement and the related Loan
Documents (subject, with respect to any such interests, rights and obligations relating to the GO
Bond Term Loans, to compliance with, or any restrictions or prohibitions with respect thereto as
may be provided in, the respective GO Bond Indentures) to an assignee that shall assume such
obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided
that:

     (a) Unless paid by the assignee or waived by the Administrative Agent in its sole discretion,
the Borrower shall have paid to the Administrative Agent the assignment fee specified in
Section 11.06(b);

     (b) such Lender shall have received payment of an amount equal to 100% of the outstanding
principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other
amounts payable to it hereunder and under the other Loan Documents (including any amounts under
Section 3.05 and subject to Section 2.16) from the assignee (to the extent of such
outstanding principal and accrued interest and fees) or the Borrower (in the case of all other
amounts);

     (c) in the case of any such assignment resulting from a claim for compensation under
Section 3.04 or payments required to be made pursuant to Section 3.01, such
assignment will result in a reduction in such compensation or payments thereafter; and

     (d) such assignment does not violate applicable Laws.

     Notwithstanding the foregoing rights of the Borrower under this Section, the Borrower may not
replace any Lender which seeks compensation under Section 3.04 or reimbursement under
Section 3.01 unless the Borrower is replacing all Lenders which are then seeking such
compensation or reimbursement.

       11.14 Governing Law; Jurisdiction; Etc.

     (a) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS.

     (b) SUBMISSION TO JURISDICTION. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY SUBMITS,
FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW
YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF
NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY
JUDGMENT, AND EACH OF THE PARTIES HERETO

114

 

IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN
RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT
OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES
HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE
ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.
NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE
ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR
PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ITS
PROPERTIES IN THE COURTS OF ANY JURISDICTION.

     (c) WAIVER OF VENUE. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE
LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE PARTIES
HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF
AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

     (d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS
IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT
THE RIGHT OF ANY
PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

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

     11.16 No Advisory or Fiduciary Responsibility. In connection with all aspects of each
transaction contemplated hereby (including in connection with any amendment, waiver or other
modification hereof, of any other Loan Document or of any GO Bond Document), the

115

 

Borrower
acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (a) (i) the
arranging and other services regarding this Agreement provided by the Administrative Agent, the
Arrangers, the Co-Syndication Agents and the Lenders are arm’s-length commercial transactions
between the Borrower and its Affiliates, on the one hand, and the Administrative Agent, the
Arrangers, the Co-Syndication Agents and the Lenders, on the other hand, (ii) the Borrower has
consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed
appropriate, and (iii) the Borrower is capable of evaluating, and understands and accepts, the
terms, risks and conditions of the transactions contemplated hereby, by the other Loan Documents
and by the GO Bond Documents; (b) (i) the Administrative Agent, the Co-Syndication Agents and the
Arrangers each is and has been acting solely as a principal and, except as expressly agreed in
writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent
or fiduciary for the Borrower or any of its Affiliates, or any other Person and (ii) none of the
Administrative Agent, any Arranger, any Co-Syndication Agent nor any Lender has any obligation to
the Borrower or any of its Affiliates with respect to the transactions contemplated hereby except
those obligations expressly set forth herein and in the other Loan Documents; and (c) the
Administrative Agent, the Arrangers, the Co-Syndication Agents, the Lenders and their respective
Affiliates may be engaged in a broad range of transactions that involve interests that differ from
those of the Borrower and its Affiliates, and none of the Administrative Agent, any Arranger, any
Co-Syndication Agent nor any Lender has any obligation to disclose any of such interests to the
Borrower or its Affiliates. To the fullest extent permitted by law, the Borrower hereby waives and
releases any claims that it may have against the Administrative Agent, the Co-Syndication Agents
and the Arrangers with respect to any breach or alleged breach of agency or fiduciary duty in
connection with any aspect of any transaction contemplated hereby.

       11.17 No Recourse to Other Persons. No past, present or future director, officer, partner,
employee, incorporator, manager, stockholder, unitholder or member of the Borrower, General
Partner, PAA, PAA GP LLC, a Delaware limited liability company, Plains AAP, L.P., a Delaware
limited partnership, or Plains All American GP LLC, a Delaware limited liability company
(“Plains GP LLC”), and no past, present or future director, officer, partner, employee,
incorporator, manager, stockholder, unitholder or member of any Subsidiary of the Borrower or
Plains GP LLC shall have any liability for any Obligations or for any claim based on, in respect
of, or by reason of, the Obligations or their creation. Each party hereto, for itself and each of
its Related Parties, waives and releases all such liability. The waiver and release are part of the
consideration for the incurrence of Indebtedness by the Borrower hereunder and, as applicable, the
making of the Notes.

       11.18 Electronic Execution of Assignments and Certain Other Documents. The words “execution,”
“signed,” “signature,” and words of like import in any Assignment and Assumption or in any
amendment or other modification hereof (including waivers and consents) shall be deemed to include
electronic signatures or the keeping of records in electronic form, each of which shall be of the
same legal effect, validity or enforceability as a manually executed signature or the use of a
paper-based recordkeeping system, as the case may be, to the extent and as provided for in any
applicable law, including the Federal Electronic Signatures in Global and National Commerce Act,
the New York State Electronic Signatures and Records Act, or any other similar state laws based on
the Uniform Electronic Transactions Act.

116

 

       11.19 USA PATRIOT Act. Each Lender that is subject to the Act (as hereinafter defined) and
the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower
that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into
law October 26, 2001)) (the “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 or the Administrative Agent, as applicable, to identify the
Borrower in accordance with the Act. The Borrower shall, promptly following a request by the
Administrative Agent or any Lender, provide all information that is in its or any of its
Subsidiary’s possession or control and not subject to confidentiality arrangements with third
parties or counsel which the Administrative Agent or such Lender reasonably requests to comply with
its ongoing obligations under applicable “know your customer” and anti-money laundering rules and
regulations, including the Act (and if any of such information is not in the Borrower’s or any of
its Subsidiary’s possession or control, will use its commercially reasonable efforts to obtain such
information and other documentation).

       11.20 Time of the Essence. Time is of the essence of the Loan Documents.

       11.21 ENTIRE AGREEMENT. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL
AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE
PARTIES.

       11.22 Reallocation of Outstanding Loans under Existing Credit Agreement. In connection with
the refinancing of the outstanding obligations and indebtedness under the
Existing Credit Agreement pursuant hereto, the Borrower, Administrative Agent and Lenders
shall as of the Closing Date make adjustments to the outstanding principal amount of “Loans” under
the Existing Credit Agreement (as such term is defined therein) (but not any interest accrued
thereon prior to the Closing Date), including the borrowing of additional Loans hereunder and the
repayment of Loans thereunder plus all applicable accrued interest, fees and expenses as shall be
necessary to provide for Loans hereunder by each Lender in the amount of its Applicable Percentage
of all Loans as of the Closing Date, but in no event shall such adjustment of any “Eurodollar
Loans” as such term is defined therein) (i) constitute a payment or prepayment of all or a portion
of any such Eurodollar Loans or (ii) entitle any Lender to any reimbursement under Section
3.05 hereof, and each Lender shall be deemed to have made an assignment of its outstanding
Loans under the Existing Credit Agreement, and assumed outstanding Loans of other Lenders under the
Existing Credit Agreement as may be necessary to effect the foregoing.

117

 

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

	 	 	 	 	 	 	 	 	 

	 	 	PAA NATURAL GAS STORAGE, L.P.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By: PNGS GP LLC, its general partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	Name:
	 	 

Al Swanson
	 	 
	 

	 	 	 	Title:
	 	Executive Vice President and Chief Financial Officer	 	 

S - 1

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as Administrative Agent

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-2

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a Lender, L/C Issuer and

Swing Line Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-3

 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-4

 

	 	 	 	 	 
	 	BNP PARIBAS, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-5

 

	 	 	 	 	 
	 	DNB NOR BANK ASA, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 
	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-6

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-7

 

	 	 	 	 	 
	 	SUNTRUST BANK, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-8

 

	 	 	 	 	 
	 	SOCIÉTÉ GENERALÉ, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-9

 

	 	 	 	 	 
	 	BARCLAYS BANK PLC, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-10

 

	 	 	 	 	 
	 	CITIBANK, N.A., as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-11

 

	 	 	 	 	 
	 	MIZUHO CORPORATE BANK, LTD., as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-12

 

	 	 	 	 	 
	 	UBS LOAN FINANCE LLC, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-13

 

	 	 	 	 	 
	 	ROYAL BANK OF CANADA, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-14

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	Justin Alexander	 
	 	Title: 	Vice President	 

S-15

 

	 	 	 	 	 
	 	SUMITOMO MITSUI BANKING CORP., NEW YORK, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-16

 

	 	 	 	 	 
	 	ING CAPITAL LLC, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-17

 

	 	 	 	 	 
	 	PNC BANK NATIONAL ASSOCIATION, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-18

 

	 	 	 	 	 
	 	COMPASS BANK, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-19

 

	 	 	 	 	 
	 	FIFTH THIRD BANK, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-20

 

	 	 	 	 	 
	 	REGIONS BANK, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-21

 

	 	 	 	 	 
	 	AMEGY BANK NATIONAL ASSOCIATION, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-22

 

	 	 	 	 	 
	 	COMERICA BANK, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-23

 

	 	 	 	 	 
	 	RAYMOND JAMES BANK, FSB, as a Lender

 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-24

 

	 	 	 	 	 
	 	BRANCH BANKING AND TRUST COMPANY, 

as a Lender
 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title: 	 	 

S-25

 

SCHEDULE 2.01

REVOLVING CREDIT COMMITMENTS, TERM LOANS

AND APPLICABLE PERCENTAGES

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Applicable	 	 	 	 	 	 	 	 	 	 
	 	 	Revolving	 	Revolving	 	 	 	 	 	GO Bond 2009	 	 	 	 
	 	 	Credit	 	Credit	 	GO Bond 2009	 	Term	 	GO Bond 2010	 	GO Bond 2010
	Lender	 	Commitment	 	Percentage	 	Term Loan	 	Percentage	 	Term Loan	 	Term Percentage
	 
	Bank of America, N.A.
	 	$	40,000,000	 	 	 	16.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	Wells Fargo Bank, National
Association.
	 	$	5,000,000	 	 	 	2.000000000	%	 	$	17,500,000	 	 	 	17.500000000	%	 	$	17,500,000	 	 	 	17.500000000	%
	BNP Paribas
	 	$	15,000,000	 	 	 	6.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	DnB NOR Bank ASA
	 	$	17,500,000	 	 	 	7.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	JPMorgan Chase Bank, N.A.
	 	$	17,500,000	 	 	 	7.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	SunTrust Bank
	 	$	0	 	 	 	0.000000000	%	 	$	20,000,000	 	 	 	20.000000000	%	 	$	20,000,000	 	 	 	20.000000000	%
	Société Generalé
	 	$	15,000,000	 	 	 	6.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	Barclays Bank PLC
	 	$	15,000,000	 	 	 	6.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	Citibank, N.A.
	 	$	15,000,000	 	 	 	6.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	Mizuho Corporate Bank, Ltd.
	 	$	15,000,000	 	 	 	6.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	UBS Loan Finance LLC
	 	$	15,000,000	 	 	 	6.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%

1

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Applicable	 	 	 	 	 	 	 	 	 	 
	 	 	Revolving	 	Revolving	 	 	 	 	 	GO Bond 2009	 	 	 	 
	 	 	Credit	 	Credit	 	GO Bond 2009	 	Term	 	GO Bond 2010	 	GO Bond 2010
	Lender	 	Commitment	 	Percentage	 	Term Loan	 	Percentage	 	Term Loan	 	Term Percentage
	 
	Royal Bank of Canada
	 	$	10,000,000	 	 	 	4.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0.00	 	 	 	0.000000000	%
	U.S. Bank National
Association
	 	$	0	 	 	 	0.000000000	%	 	$	15,000,000	 	 	 	15.000000000	%	 	$	15,000,000	 	 	 	15.000000000	%
	Sumitomo Mitsui Banking
Corp., New York
	 	$	10,000,000	 	 	 	4.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	ING Capital LLC
	 	$	10,000,000	 	 	 	4.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	PNC Bank National
Association
	 	$	0	 	 	 	0.000000000	%	 	$	17,500,000	 	 	 	17.500000000	%	 	$	17,500,000	 	 	 	17.500000000	%
	Compass Bank
	 	$	10,000,000	 	 	 	4.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	Fifth Third Bank
	 	$	10,000,000	 	 	 	4.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	Regions Bank
	 	$	10,000,000	 	 	 	4.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	Amegy Bank National
Association
	 	$	0	 	 	 	0.000000000	%	 	$	12,500,000	 	 	 	12.500000000	%	 	$	12,500,000	 	 	 	12.500000000	%
	Comerica Bank
	 	$	10,000,000	 	 	 	4.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	Raymond James Bank, FSB
	 	$	10,000,000	 	 	 	4.000000000	%	 	$	0	 	 	 	0.000000000	%	 	$	0	 	 	 	0.000000000	%
	Branch Banking and Trust
Company
	 	$	0	 	 	 	0.000000000	%	 	$	17,500,000	 	 	 	17.500000000	%	 	$	17,500,000	 	 	 	17.500000000	%
	 
	Total
	 	$	250,000,000	 	 	 	100	%	 	$	100,000,000	 	 	 	100.000000000	%	 	$	100,000,000	 	 	 	100.000000000	%

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}]]