Document:

Exhibit
10.4

CONFORMED COPY

 

Published CUSIP Number:                       

FIVE-YEAR SENIOR CREDIT
AGREEMENT 

(Electronics Businesses)

dated as of

April 25, 2007

among

TYCO ELECTRONICS GROUP
S.A.,

Borrower

TYCO INTERNATIONAL LTD.,

Initial Guarantor

TYCO ELECTRONICS LTD.,

E Guarantor

The Lenders Party Hereto

and

BANK OF AMERICA, N.A.

as Administrative Agent

BANC OF AMERICA
SECURITIES LLC and DEUTSCHE BANK SECURITIES, INC.

as Joint Bookrunners and Joint Lead Arrangers

CITIGROUP GLOBAL MARKETS
INC. 

BANC OF AMERICA SECURITIES LLC

as Global Coordinators

 

TABLE OF CONTENTS

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
  ARTICLE I

  	
  Definitions

  	
   

  	
    1

  
	
  Section 1.01

  	
   

  	
  Defined Terms

  	
   

  	
    1

  
	
  Section 1.02

  	
   

  	
  Classification of Loans and Borrowings

  	
   

  	
  18

  
	
  Section 1.03

  	
   

  	
  Terms Generally

  	
   

  	
  18

  
	
  Section 1.04

  	
   

  	
  Accounting Terms; GAAP

  	
   

  	
  18

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE II

  	
  The Credits

  	
   

  	
  19

  
	
  Section 2.01

  	
   

  	
  Commitments.

  	
   

  	
  19

  
	
  Section 2.02

  	
   

  	
  Loans and Borrowings

  	
   

  	
  19

  
	
  Section 2.03

  	
   

  	
  Requests for Borrowings

  	
   

  	
  19

  
	
  Section 2.04

  	
   

  	
  [Intentionally Omitted]

  	
   

  	
  21

  
	
  Section 2.05

  	
   

  	
  Funding of Borrowings

  	
   

  	
  21

  
	
  Section 2.06

  	
   

  	
  Interest Elections

  	
   

  	
  21

  
	
  Section 2.07

  	
   

  	
  Termination and Reduction of Commitments

  	
   

  	
  23

  
	
  Section 2.08

  	
   

  	
  Repayment of Loans; Evidence of Debt

  	
   

  	
  23

  
	
  Section 2.09

  	
   

  	
  Prepayment of Loans

  	
   

  	
  24

  
	
  Section 2.10

  	
   

  	
  Fees

  	
   

  	
  25

  
	
  Section 2.11

  	
   

  	
  Interest

  	
   

  	
  25

  
	
  Section 2.12

  	
   

  	
  Calculation of Interest and Fees

  	
   

  	
  26

  
	
  Section 2.13

  	
   

  	
  Payments Generally; Pro Rata Treatment; Sharing of
  Set-offs

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE III

  	
  Representations and Warranties

  	
   

  	
  28

  
	
  Section 3.01

  	
   

  	
  Organization; Powers

  	
   

  	
  28

  
	
  Section 3.02

  	
   

  	
  Authorization; Enforceability

  	
   

  	
  28

  
	
  Section 3.03

  	
   

  	
  Governmental Approvals; No Conflicts

  	
   

  	
  28

  
	
  Section 3.04

  	
   

  	
  Financial Condition; No Material Adverse Change

  	
   

  	
  29

  
	
  Section 3.05

  	
   

  	
  Litigation and Environmental Matters

  	
   

  	
  29

  
	
  Section 3.06

  	
   

  	
  Investment Company Status

  	
   

  	
  30

  
	
  Section 3.07

  	
   

  	
  Taxes

  	
   

  	
  30

  
	
  Section 3.08

  	
   

  	
  ERISA

  	
   

  	
  30

  
	
  Section 3.09

  	
   

  	
  Disclosure

  	
   

  	
  31

  
	
  Section 3.10

  	
   

  	
  Subsidiaries

  	
   

  	
  31

  
	
  Section 3.11

  	
   

  	
  Margin Regulations

  	
   

  	
  31

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IV

  	
  Conditions

  	
   

  	
  31

  
	
  Section 4.01

  	
   

  	
  Effective Date

  	
   

  	
  31

  
	
  Section 4.02

  	
   

  	
  Each Borrowing

  	
   

  	
  33

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE V

  	
  Covenants

  	
   

  	
  33

  
	
  Section 5.01

  	
   

  	
  Financial Statements and Other Information

  	
   

  	
  33

  
	
  Section 5.02

  	
   

  	
  Existence; Conduct of Business

  	
   

  	
  35

  

 

 

 i
 

 

	
  Section 5.03

  	
   

  	
  Maintenance of Properties; Insurance

  	
   

  	
  35

  
	
  Section 5.04

  	
   

  	
  Books and Records; Inspection Rights

  	
   

  	
  36

  
	
  Section 5.05

  	
   

  	
  Compliance with Laws

  	
   

  	
  36

  
	
  Section 5.06

  	
   

  	
  Use of Proceeds

  	
   

  	
  36

  
	
  Section 5.07

  	
   

  	
  Liens

  	
   

  	
  36

  
	
  Section 5.08

  	
   

  	
  Fundamental Changes

  	
   

  	
  38

  
	
  Section 5.09

  	
   

  	
  Financial Covenant

  	
   

  	
  39

  
	
  Section 5.10

  	
   

  	
  Limitation on Restrictions on Subsidiary Dividends
  and Other Distributions

  	
   

  	
  39

  
	
  Section 5.11

  	
   

  	
  Transactions with Affiliates

  	
   

  	
  41

  
	
  Section 5.12

  	
   

  	
  Subsidiary Guarantors

  	
   

  	
  42

  
	
  Section 5.13

  	
   

  	
  Subsidiary Debt

  	
   

  	
  43

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VI

  	
  Events of Default

  	
   

  	
  43

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VII

  	
  The Administrative Agent

  	
   

  	
  46

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VIII

  	
  Guarantee

  	
   

  	
  49

  
	
  Section 8.01

  	
   

  	
  The Guarantee

  	
   

  	
  49

  
	
  Section 8.02

  	
   

  	
  Guarantee Unconditional

  	
   

  	
  49

  
	
  Section 8.03

  	
   

  	
  Discharge Only upon Payment in Full; Reimbursement
  in Certain Circumstances

  	
   

  	
  50

  
	
  Section 8.04

  	
   

  	
  Waiver by the Guarantor

  	
   

  	
  50

  
	
  Section 8.05

  	
   

  	
  Subrogation

  	
   

  	
  50

  
	
  Section 8.06

  	
   

  	
  Stay of Acceleration

  	
   

  	
  50

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IX

  	
  Yield Protection, Illegality and Taxes

  	
   

  	
  50

  
	
  Section 9.01

  	
   

  	
  Alternate Rate of Interest

  	
   

  	
  50

  
	
  Section 9.02

  	
   

  	
  Illegality

  	
   

  	
  51

  
	
  Section 9.03

  	
   

  	
  Increased Costs

  	
   

  	
  51

  
	
  Section 9.04

  	
   

  	
  Break Funding Payments

  	
   

  	
  52

  
	
  Section 9.05

  	
   

  	
  Taxes.

  	
   

  	
  53

  
	
  Section 9.06

  	
   

  	
  Matters Applicable to all Requests for Compensation

  	
   

  	
  54

  
	
  Section 9.07

  	
   

  	
  Mitigation Obligations

  	
   

  	
  54

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE X

  	
  Miscellaneous

  	
   

  	
  55

  
	
  Section 10.01

  	
   

  	
  Notices.

  	
   

  	
  55

  
	
  Section 10.02

  	
   

  	
  Waivers; Amendments

  	
   

  	
  56

  
	
  Section 10.03

  	
   

  	
  Expenses; Indemnity; Damage Waiver

  	
   

  	
  57

  
	
  Section 10.04

  	
   

  	
  Successors and Assigns

  	
   

  	
  59

  
	
  Section 10.05

  	
   

  	
  Survival

  	
   

  	
  63

  
	
  Section 10.06

  	
   

  	
  Counterparts; Integration; Effectiveness

  	
   

  	
  64

  
	
  Section 10.07

  	
   

  	
  Severability

  	
   

  	
  64

  
	
  Section 10.08

  	
   

  	
  Right of Setoff

  	
   

  	
  64

  
	
  Section 10.09

  	
   

  	
  Governing Law; Jurisdiction; Consent to Service of
  Process

  	
   

  	
  65

  
	
  Section 10.10

  	
   

  	
  Waiver of Jury Trial

  	
   

  	
  66

  

 

 

 ii
 

 

	
  Section 10.11

  	
   

  	
  Waiver of Immunities

  	
   

  	
  66

  
	
  Section 10.12

  	
   

  	
  Judgment Currency

  	
   

  	
  66

  
	
  Section 10.13

  	
   

  	
  Headings

  	
   

  	
  67

  
	
  Section 10.14

  	
   

  	
  Confidentiality

  	
   

  	
  67

  
	
  Section 10.15

  	
   

  	
  Electronic Communications

  	
   

  	
  68

  
	
  Section 10.16

  	
   

  	
  USA PATRIOT Act Notice

  	
   

  	
  70

  

SCHEDULES:

Schedule A – Existing
Indenture Debt

Schedule 1.01 – Pricing
Grid

Schedule 2.01 –
Commitments

Schedule 5.09 – Cross
Guarantees

Schedule 10.01 –
Administrative Agent’s Office; Lender Notice Addresses

EXHIBITS:

Exhibit A – Form of Note

Exhibit B – Form of
Assignment and Assumption

Exhibit C-1 – Form of
opinion of general counsel of Guarantor

Exhibit C-2 – Form of
opinion of special Luxembourg counsel

Exhibit C-3 – Form of opinion
of special Bermuda counsel

Exhibit C-4 – Form of
opinion of special New York counsel

Exhibit D – Form of
Subsidiary Guaranty

Exhibit E – Form of
Guarantor Assumption Agreement

Exhibit F-1 – Form of
opinion of special Bermuda counsel (Guarantor Assumption Agreement)

Exhibit F-2 – Form of
opinion of special New York counsel (Guarantor Assumption Agreement)

 iii

 

FIVE-YEAR SENIOR CREDIT AGREEMENT (Electronics
Businesses) dated as of April 25, 2007 (the “Closing Date”), among TYCO
ELECTRONICS GROUP S.A., a Luxembourg company (the “Borrower”), TYCO
INTERNATIONAL LTD., a Bermuda company (the “Initial Guarantor”), TYCO
ELECTRONICS LTD., a Bermuda company (the “E Guarantor”), the
LENDERS party hereto, and BANK OF AMERICA, N.A., as Administrative Agent.

The parties hereto agree as follows:

ARTICLE I

Definitions

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

“ABR”, when used in reference to any Loan or
Borrowing, means that such Loan, or the Loans comprising such Borrowing, bear
interest at a rate per annum equal to the Alternate Base Rate.

“Accumulated Other Comprehensive (Loss) Income”
on any date means the amount of “Accumulated Other Comprehensive
(Loss) Income” of the Guarantor and its Subsidiaries as of the end of the
most recently completed fiscal quarter of the Guarantor prior to such date of
determination determined on a consolidated basis in accordance with GAAP.

“Administrative Agent” means Bank of America,
in its capacity as administrative agent for the Lenders under this Agreement
and the other Loan Documents, or any successor administrative agent.

“Administrative Agent’s Office” means the
office address, facsimile number, electronic mail address, telephone number and
account information set forth on Schedule 10.01 with respect to the
Administrative Agent or such other address, facsimile number, electronic mail
address, telephone number or account information as shall be designated by the
Administrative Agent in a notice to the Borrower and the Lenders.

“Affiliate” means, with respect to a specified
Person, another Person that directly, or indirectly through one or more
intermediaries, controls or is controlled by or is under common control with
the Person specified.  For purposes of
this definition, the term “control” (including the terms “controlling”
and “under common control with”) means the possession, directly or
indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by
contract or otherwise.

“Alternate Base Rate” means, for any day, a
rate per annum equal to the greater of (a) the Base Rate in effect on such
day and (b) the Federal Funds Effective Rate in effect on such day plus 1⁄2
of 1%.  Any change in the Alternate Base
Rate due to a change in the Prime Rate or the 

 1
 

 

Federal Funds Effective Rate shall be effective from
and including the effective date of such change in the Base Rate or the Federal
Funds Effective Rate, respectively.

“Applicable Margin” means, with respect to any
Eurodollar Loan, either (i) at any time during which less than 50% of the
then applicable aggregate Commitments are being utilized, the rate per annum
set forth on the Pricing Grid opposite the reference to the applicable Index
Debt Rating under the heading “Applicable Margin” and under the sub-heading “Less
than 50% of the then Applicable Commitments Utilized”, or (ii) at any time
during which 50% or more of the then applicable aggregate Commitments are being
utilized, the rate per annum set forth on the Pricing Grid opposite the
reference to the applicable Index Debt Rating under the heading “Applicable
Margin” and under the sub-heading “50% or More of the then Applicable
Commitments Utilized”; any change in the Applicable Margin resulting from an
Index Debt Rating Change or an aggregate Commitment utilization change shall be
determined in accordance with Schedule 1.01 and shall be effective on the
date of such Index Debt Rating Change or utilization change, as the case may
be.

“Applicable Percentage” means, with respect to
any Lender, the percentage (rounded to the ninth decimal) of the total
Commitments in effect at any given time represented by such Lender’s then
applicable Commitment.  If the
Commitments have terminated or expired, the Applicable Percentages shall be
determined based upon the outstanding principal amounts of the Loans made by
the respective Lenders.

“Approved Fund” has the meaning assigned to
such term in Section 10.04.

“Assignment and Assumption” means an assignment
and assumption entered into by a Lender and an assignee (with the consent of
any party whose consent is required by Section 10.04), and accepted by the
Administrative Agent, in the form of Exhibit B or any other form approved
by the Administrative Agent.

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

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

“Base Rate” means the rate of interest per
annum publicly announced from time to time by Bank of America as its base rate
or prime rate in effect at its principal office in New York City.  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
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.

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

 2
 

 

“Borrower” has the meaning set forth in the
preamble hereto.

“Borrowing” means Loans of the same Type, made,
converted or continued on the same date and, in the case of Eurodollar Loans,
as to which a single Interest Period is in effect.

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

“Bridge Loan Agreement” means the 364-Day
Senior Bridge Loan Agreement (Electronics Businesses) dated as of the date of
this Agreement among TIGSA, the Borrower, Tyco International Ltd., Tyco
Electronics Ltd., the lenders party thereto, and Bank of America, as
Administrative Agent.

“Business Day” means any day that is not a
Saturday, Sunday or other day on which commercial banks in New York City are
authorized or required by law to remain closed; provided that, when used
in connection with a Eurodollar Loan, the term “Business Day” shall also
exclude any day on which banks are not open for dealings in dollar deposits in
the London interbank market.

“Change in Law” means (a) the adoption of
any law, rule or regulation after the date of this Agreement, (b) any
change in any law, rule or regulation or in the interpretation or application
thereof by any Governmental Authority after the date of this Agreement or
(c) compliance by any Lender (or, for purposes of Section 9.03(b), by
any lending office of such Lender or by such Lender’s holding company, if any)
with any request, guideline or directive (whether or not having the force of
law) of any Governmental Authority made or issued after the date of this
Agreement.

“Closing Date” means the date of this
Agreement.

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

“Commitment” means, with respect to each Lender
at any time, the commitment of such Lender to make Loans hereunder, expressed
as an amount representing the maximum aggregate amount of such Lender’s
Revolving Credit Exposure hereunder at such time, as such commitment may be
(a) increased upon the occurrence of the Transition Time pursuant to
Section 2.01(b), (b) reduced from time to time pursuant to
Section 2.07, and (c) reduced or increased from time to time pursuant
to assignments by or to such Lender pursuant to Section 10.04.  The commitment of each Lender described in
the previous sentence prior to the increase of such commitment pursuant to
Section 2.01(b) is referred to as its “Initial Commitment”.  The total commitment of each Lender subsequent
to such increase is referred to as its “Increased Commitment”).  The initial amount of each Lender’s Initial
Commitment and Increased Commitment is set forth on Schedule 2.01, or in
the Assignment and Assumption pursuant to which such Lender shall have assumed
its Commitment, as applicable.  The
initial aggregate amount of the Lenders’ Initial Commitments is $900,000,000,
and the initial aggregate amount of the Lenders’ Increased Commitments is
$1,500,000,000.

 3
 

 

“Communications” has the meaning assigned to
such term in Section 10.15.

“Compensation Period” has the meaning assigned
to such term in Section 2.05(b).

“Consolidated” refers to the consolidation of
accounts of the Guarantor and its consolidated Subsidiaries in accordance with
GAAP.

“Consolidated EBITDA” means, for any fiscal
period, Consolidated Net Income for such period plus the following, to the
extent deducted in calculating such Consolidated Net Income:  (a) Consolidated Interest Expense,
(b) income tax expense, (c) depreciation and amortization expense
(d) any extraordinary expenses or losses, (e) losses on sales of
assets outside of the ordinary course of business and losses from discontinued
operations, (f) any losses on the retirement of debt identified in the
Consolidated statements of cash flows and (g) any other nonrecurring or
non-cash charges (including charges incurred with respect to the Transactions),
and minus, to the extent included in calculating such Consolidated Net Income
for such period, the sum of (a) any extraordinary income or gains,
(b) gains on the sales of assets outside of the ordinary course of
business and gains from discontinued operations, (c) any gains on the
retirement of debt identified in the Consolidated statements of cash flows and
(d) any other nonrecurring or non-cash income, all as determined on a
Consolidated basis; provided that in calculating Consolidated EBITDA the
effect of the Cross Guarantees shall be disregarded.  If during such period the Guarantor or any
Subsidiary shall have made an acquisition, Consolidated EBITDA for such period
shall be calculated after giving pro forma
effect thereto as if such acquisition occurred on the first day of such period.

“Consolidated Interest Expense” means, for any
fiscal period (without duplication), (a) the Consolidated interest expense
of the Guarantor and its Consolidated Subsidiaries for such period plus
(b) if a Permitted Securitization Transaction outstanding during such
period is accounted for as a sale of accounts receivable, chattel paper,
general intangibles or the like under GAAP, the additional consolidated
interest expense that would have accrued during such period had such Permitted
Securitization Transaction been accounted for as a borrowing during such
period, determined on a Consolidated basis.

“Consolidated Net Income” means, for any fiscal
period, the Consolidated net income of the Guarantor for such period.  For purposes of calculating Consolidated Net
Income (and Consolidated EBITDA) for any period (or portion thereof) ending on
or prior to the Electronics Spin Distribution, Consolidated Net Income (and
Consolidated EBITDA) shall be determined based on the combined financial
statements as described in Section 3.04(a)(ii) and
Section 5.01(b)(ii).

“Consolidated Tangible Assets” means, at any time,
the total assets less all Intangible Assets appearing on the Consolidated
balance sheet of the Guarantor as of the end of the most recently concluded
fiscal quarter of the Guarantor.

“Consolidated Total Debt” means, as of any date
of determination, the aggregate amount of Debt of the Guarantor determined on a
Consolidated basis, as of such date; provided that 

 4
 

 

Guarantees shall be valued at the amount thereof, if
any, reflected on the consolidated balance sheet of the Guarantor; provided,
further that prior to the Electronics Spin Distribution, Consolidated
Total Debt shall only include Debt that would be reflected on the combined
balance sheet as described in Section 3.04(a)(ii) and
Section 5.01(b)(ii); provided that if a Permitted Securitization Transaction
is outstanding at such date and is accounted for as a sale of accounts
receivable, chattel paper, general intangibles, or the like, under GAAP,
Consolidated Total Debt determined as aforesaid shall be adjusted to include
the additional Debt, determined on a consolidated basis as of such date, which
would have been outstanding at such date had such Permitted Securitization
Transaction been accounted for as a borrowing at such date; provided,
further, that Consolidated Total Debt shall not include Debt of a joint
venture, partnership or similar entity which is Guaranteed by the Guarantor or
a Consolidated Subsidiary by virtue of the joint venture, partnership or
similar arrangement with respect to such entity or by operation of applicable
law (and not otherwise) except to the extent that the aggregate outstanding
principal amount of such excluded Debt at such date exceeds $50,000,000; and provided,
further, that Consolidated Total Debt shall not include Cross
Guarantees.

“Credit Agreement (Healthcare)” means the
Five-Year Senior Credit Agreement (Healthcare Businesses) dated as of the
Closing Date among the H Borrower, the Initial Guarantor, the H Guarantor, the
lenders party thereto and Citibank, N.A., as administrative agent for such
lenders.

“Credit Agreement (Topaz)” means the Five-Year
Senior Credit Agreement (Fire & Safety and Engineered Products Businesses)
dated as of the Closing Date among the T Borrower, the Initial Guarantor, the
lenders party thereto and Citibank, N.A., as administrative agent for such
lenders.

“Cross Guarantees” means the Guarantees by the
Guarantor or its Subsidiaries of obligations of the T Borrower or the H
Borrower or their respective subsidiaries that are listed on
Schedule 5.09, to the extent that the direct obligor with respect to the
obligations covered by such Guarantee guarantees or is otherwise obligated to
the payments of such guaranteed obligation for the benefit of the Guarantor or
such Subsidiary.

“Debt” of any Person means, at any date,
without duplication, (a) the principal of all obligations of such Person
for borrowed money; (b) the principal of all obligations of such Person
evidenced by bonds, debentures, notes or similar instruments; (c) all
obligations of such Person in respect of the deferred purchase price of
property or services recorded on the books of such Person (except for
(i) trade and similar accounts payable and accrued expenses,
(ii) employee compensation, deferred compensation and pension obligations,
and other obligations arising from employee benefit programs and agreements or
other similar employment arrangements, (iii) obligations in respect of
customer advances received and (iv) obligations in connection with earnout
and holdback agreements, in each case in the ordinary course of business); (d) any
obligation of such Person to reimburse the issuer of any letter of credit,
performance bond, performance guaranty or bank guaranty issued for the account
of such Person upon which, and only to the extent that, a drawing has been made
(or such reimbursement 

 5
 

 

obligation is otherwise not contingent) and such
non-contingent obligation is not reimbursed within five Business Days;
(e) the net capitalized amount of all obligations of such person as lessee
which are capitalized on the books of such Person in accordance with GAAP;
(f) all Debt of others secured by any Lien on property of such Person,
whether or not the Debt secured thereby has been assumed, but only to the
extent of the lesser of the face amount of the obligation or the fair market value
of the assets so subject to the Lien; and (g) all Guarantees by such
Person of Debt of others (except the Guarantor or any Subsidiary); provided
that the term “Debt” shall not include:

(A)          Intercompany Debt (except that, for
the purposes of Sections 5.10 and 5.11, Debt shall include Intercompany Debt);
or

(B)           obligations in respect of trade
letters of credit or bank guaranties supporting trade and similar accounts
payable arising in the ordinary course of business, or

(C)           Nonrecourse Debt.

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

“Designated Officer” means the chief executive
officer, president, chief financial officer or treasurer of Tyco Electronics
Company.

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

“E Guarantor” has the meaning set forth in the
preamble hereto.

“Effective Date” means the date on which the
conditions specified in Section 4.01 are satisfied or waived.

“Electronics Registration Statement” has the
meaning set forth in Section 3.04(a).

“Electronics Spin Distribution” has the meaning
set forth in the definition of “Separation Transactions”.

“Environmental Laws” means all laws, rules,
regulations, codes, ordinances, orders, decrees, judgments, injunctions,
notices or binding agreements issued, promulgated or entered into by any
Governmental Authority, relating in any way to the environment, health, safety
or Hazardous Materials.

“Environmental Liability” means any liability,
contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), of the Guarantor
or any Subsidiary directly or indirectly resulting from or based upon
(a) violation of any Environmental Law, (b) the generation, use,
handling, transportation, storage, treatment or 

 6
 

 

disposal of any Hazardous Materials, (c) exposure
to any Hazardous Materials, (d) the release or threatened release of any
Hazardous Materials into the environment or (e) any contract, agreement or
other consensual arrangement pursuant to which liability is assumed or imposed
with respect to any of the foregoing.

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

“ERISA Affiliate” means any Person, trade or
business (whether or not incorporated) that, together with the Borrower, is
treated as a single employer under Section 414(b), (c), (m) or
(o) of the Code or Section 4001(b)(3) of ERISA.

“ERISA Event” means (a) any “reportable
event”, as defined in Section 4043 of ERISA or the regulations issued
thereunder with respect to a Plan; (b) the existence with respect to any
Plan of an “accumulated funding deficiency” (as defined in
Section 412 of the Code or Section 302 of ERISA), whether or not
waived; (c) the filing pursuant to Section 412(d) of the Code or
Section 303(d) of ERISA of an application for a waiver of the minimum
funding standard with respect to any Plan; (d) the incurrence by the Guarantor
or any of its ERISA Affiliates of any liability under Title IV of ERISA
(other than payment of PBGC premiums) with respect to the termination of any
Plan; (e) the receipt by the Guarantor or any ERISA Affiliate from the
PBGC or a plan administrator of any notice relating to the PBGC’s intention to
terminate any Plan or Plans or to appoint a trustee to administer any Plan;
(f) the incurrence by the Borrower or any of its ERISA Affiliates of any
liability with respect to the withdrawal or partial withdrawal from any Plan or
Multiemployer Plan; (g) the receipt by the Guarantor or any ERISA
Affiliate of any notice, or the receipt by any Multiemployer Plan from the
Guarantor or any ERISA Affiliate of any notice, concerning the imposition of
Withdrawal Liability or a determination that a Multiemployer Plan is, or is
expected to be, insolvent or in reorganization, within the meaning of
Title IV of ERISA; or (h) the failure to timely make any required
contribution or premium payment in respect of any Plan or contribution in
respect of any Multiemployer Plan.

“Eurodollar Reserve Percentage” in respect of
any Lender and for any day during any Interest Period, the reserve percentage
(expressed as a decimal) in effect on such day and applicable to such Lender
under Regulation D promulgated by the Board of Governors of the Federal
Reserve System for determining such Lender’s reserve requirement (including any
emergency, supplemental or other marginal reserve requirement) with respect to “Eurocurrency
liabilities”, as in effect from time to time (“FRB Regulation D”).

“Eurodollar”, when used in reference to any
Loan or Borrowing, means that such Loan, or the Loans comprising such
Borrowing, bear interest at a rate per annum equal to the applicable LIBO Rate
plus the Applicable Margin.

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

 7
 

 

“Excluded Taxes” means, with respect to the
Administrative Agent, any Lender or any other recipient of any payment to be
made by or on account of any obligation of any Obligor hereunder,
(a) income or franchise taxes imposed on (or measured by) its net income
(other than Taxes withheld at the source) by the United States of America, or
by the jurisdiction under the laws of which such recipient is organized or in
which its principal office is located or, in the case of any Lender, in which
its applicable lending office is located, (b) any branch profits taxes
imposed by the United States of America or any similar tax imposed by any other
jurisdiction in which the Borrower is located and (c) in the case of a
Foreign Lender (other than an assignee pursuant to a request by the Borrower
under Section 10.04(e)), any United States withholding tax that is imposed
on amounts payable to such Foreign Lender at the time such Foreign Lender
becomes a party to this Agreement (or designates a new lending office) or is
attributable to such Foreign Lender’s failure to comply with
Section 9.05(e) (except to the extent such failure is attributable to a
Change in Law, 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 either Obligor with respect to
such withholding tax pursuant to Section 9.05(a).

“Existing Indenture Covered Default” means any
default or event of default under any of the indentures or notes evidencing the
Existing Indenture Debt (i) that results solely from the Separation
Transactions and (ii) for which borrowings would be available (and at the
time continue to be available) under the Bridge Loan Agreement or the Other
Bridge Loan Agreements to pay in full (a) such Existing Indenture Debt if
such Existing Indenture Debt were accelerated as a result of such default and
(b) any other Existing Indenture Debt which could be accelerated as a
result of such default.

“Existing Indenture Debt” means the Debt of
TIGSA, the Initial Guarantor and subsidiaries of TIGSA, which Debt is
outstanding on the date of this Agreement and is more particularly described on
Schedule A, which, among other things, sets forth the aggregate amount of
each series or tranche of such Debt.

“Existing Tyco Credit Agreements” means each of
(i) the $1,500,000,000 Three-Year Credit Agreement dated as of
December 22, 2003, as amended, among TIGSA, the T Guarantor, Bank of
America, N.A., as paying agent, and the other lenders party thereto, and
(ii) the $1,000,000,000 Five-Year Credit Agreement dated as of
December 16, 2004, as amended, among TIGSA, the T Guarantor, Bank of
America, N.A., as paying agent, and the other lenders party thereto.

“Facility Fee” has the meaning assigned to such
term in Section 2.10(a)(ii).

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

 8
 

 

average of the quotations for such day for such
transactions received by the Administrative Agent from three Federal funds
brokers of recognized standing selected by it.

“Fee Letters” means each of (i) the letter
dated December 20, 2006 between TIGSA (or, on and after assignment of such
letter in connection with the TIGSA Separation, the Borrower) and the
Administrative Agent and (ii) the letter dated December 20, 2006
between TIGSA (or, on and after assignment of such letter in connection with the
TIGSA Separation, the Borrower) and the Global Coordinators.

“Fitch” means Fitch Investor’s Service, Inc.

“Fitch Rating” means, at any time, the rating
published by Fitch of the Borrower’s Index Debt.

“Foreign Lender” means any Lender that is
organized under the laws of a jurisdiction other than the United States of
America, any State thereof or the District of Columbia.

“Form10s” means (i) the Form 10 filed
by the H Guarantor with the SEC on January 18, 2007, as amended by the
amendment thereto filed on April 20, 2007, and (ii) the Form 10 filed
by the E Guarantor with the SEC on January 18, 2007, as amended by the
amendment thereto filed on April 20, 2007.

“GAAP” means generally accepted accounting
principles as in effect from time to time in the United States of America.

“Global Coordinators” means Citigroup Global
Markets Inc. and Banc of America Securities LLC in their respective capacities
as global coordinators.

“Governmental Authority” means the government
of the United States of America or any political subdivision thereof, any other
nation or any political subdivision thereof, whether state or local, and any
agency, authority, instrumentality, regulatory body, court, central bank or
other entity exercising executive, legislative, judicial, taxing, regulatory or
administrative powers or functions of or pertaining to government (including
any supra-national bodies such as the European Union or the European Central
Bank).

“Granting Lender” has
the meaning assigned to such term in Section 10.04(g).

“Guarantee” of or by any Person (the “guarantor”)
means any obligation, contingent or otherwise, of the guarantor guaranteeing or
having the economic effect of guaranteeing any Debt or other obligation of any
other Person (the “primary obligor”) in any manner, whether directly or
indirectly, and including any obligation of the guarantor, direct or indirect,
(a) to purchase or pay (or advance or supply funds for the purchase or
payment of) such Debt or other obligation or to purchase (or to advance or
supply funds for the purchase of) any security for the payment thereof,
(b) to purchase or lease property, securities or services for the purpose
of assuring the owner of such Debt or other obligation of the payment thereof,
(c) to maintain working capital, 

 9
 

 

equity capital or any other financial statement
condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Debt or other obligation or (d) as an account party in
respect of any letter of credit or letter of guaranty issued to support such
Debt or obligation; provided, that the term Guarantee shall not include
endorsements for collection or deposit in the ordinary course of business.

“Guarantor” means, until the Transition Time,
the Initial Guarantor, and from and after the Transition Time, the E Guarantor.

“Guarantor Assumption Agreement” means an
assignment and assumption agreement entered into between the Initial Guarantor
and the E Guarantor substantially in the form of Exhibit E.

“Guarantor Assumption Opinions” means a written
opinion (addressed to the Administrative Agent and the Lenders and dated the
date of the Guarantor Assumption Agreement) of (i) Appleby Hunter
Bailhache, special Bermudian counsel of the E Guarantor, substantially in the
form attached as Exhibit F-1 and (ii) Gibson, Dunn & Crutcher
LLP, special New York counsel of the E Guarantor, substantially in the form
attached as Exhibit F-2, in each case with such changes to such forms as may be
approved by the Administrative Agent.

“H Borrower” means Covidien International Finance
S.A., a Luxembourg company.

“H Guarantor” means Covidien Ltd., a Bermuda
company.

“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.

“Healthcare Spin Distribution” has the meaning
set forth in the definition of “Separation Transactions”.

“Increased Commitment” has the meaning set
forth in the definition of the term “Commitment”.

“Indemnified Taxes” means Taxes other than
Excluded Taxes.

“Index Debt” means senior, unsecured, long-term
indebtedness for borrowed money of the Borrower that is not guaranteed by any
other Person other than the Guarantor or subject to any other credit
enhancement.

“Index Debt Rating” means the S&P Rating,
the Moody’s Rating and the Fitch Rating.

“Index Debt Rating Change” means a change in
the S&P Rating, the Moody’s Rating or the Fitch Rating that results in a
change from one Index Debt Rating category to another on the 

 10
 

 

Pricing Grid in accordance with the provisions of
Schedule 1.01, each Index Debt Rating Change to be deemed to take effect
on the date on which the relevant change in rating is first publicly announced
by S&P, Moody’s or Fitch, as the case may be.

“Initial Commitment” has the meaning set forth
in the definition of the term “Commitment”.

“Initial Guarantor” has the meaning set forth
in the preamble hereto.

“Intangible Assets” means, at any date, the
amount (if any) stated under the heading “Goodwill and Other Intangible assets,
net” or under any other heading relating to intangible assets separately
listed, in each case, on the face of a balance sheet of the Guarantor prepared
on a Consolidated basis as of such date.

“Intercompany Debt” means (i) indebtedness
of the Guarantor owed to a Subsidiary and (ii) indebtedness of a
Subsidiary owed to the Guarantor or another Subsidiary.

“Interest Election Request” means a request by
the Borrower to convert or continue a Borrowing in accordance with
Section 2.06.

“Interest Payment Date” means (a) with
respect to any ABR Loan, the last Business Day of each March, June, September
and December and (b) with respect to any Eurodollar Loan, the last day of
the Interest Period applicable to the Borrowing of which such Loan is a part; provided
that, if an Interest Period for a Eurodollar Borrowing is of more than three
months’ duration, each day within such Interest Period that occurs at intervals
of three months’ duration after the first day of such Interest Period shall
also be an Interest Payment Date.

“Interest Period” means with respect to any
Eurodollar Borrowing, the period commencing on the date of such Borrowing and
ending on the date that is one, two, three or six months thereafter, as the
Borrower may elect, upon notice received by the Administrative Agent not later
than 11:00 a.m. (New York City time) on the third Business Day prior to the
first day of such Interest Period, or such other period as requested by the
Borrower and agreed to by all the Lenders in accordance with
Section 2.03(b); provided, that

(i)          if any Interest
Period would end on a day other than a Business Day, such Interest Period shall
be extended to the next succeeding Business Day unless such next succeeding
Business Day would fall in the next calendar month, in which case such Interest
Period shall end on the next preceding Business Day;

(ii)         any Interest Period
of one or more whole months that commences on the last Business Day of a
calendar month (or on a day for which there is no numerically corresponding day
in the last calendar month of such Interest Period) shall end on the last
Business Day of the last calendar month of such Interest Period; and

 11
 

 

(iii)        the Borrower may not
select any Interest Period that may end after the Maturity Date.

For purposes hereof, the date of a Borrowing initially shall be the
date on which such Borrowing is made and thereafter shall be the effective date
of the most recent conversion or continuation of such Borrowing.

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

“LIBO Rate”
means, with respect to any Eurodollar Borrowing for any Interest Period, the
British Bankers Association London Interbank Offered Rate (“BBA LIBOR”),
as it is published by Reuters or any successor to or substitute for such
service, providing rate quotations of BBA LIBOR, as determined by the
Administrative Agent from time to time for purposes of providing quotations of
interest rates applicable to dollar deposits in the London interbank market) at
approximately 11:00 a.m., London time, two Business Days prior to the
commencement of such Interest Period, as the rate for dollar deposits with a
maturity comparable to such Interest Period. 
In the event that such rate is not available at such time for any
reason, then the “LIBO Rate” with respect to such Eurodollar Borrowing
for such Interest Period shall be the rate at which dollar deposits of
$10,000,000 and for a maturity comparable to such Interest Period are offered
by the principal London office of the Administrative Agent in immediately
available funds in the London interbank market at approximately 11:00 a.m.,
London time, two Business Days prior to the commencement of such Interest
Period.

“Lien” means, with respect to any asset, any
mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or
security interest in, on or of such asset, including the interest of a vendor
or a lessor under any conditional sale agreement, capital lease or title
retention agreement.

“Loan Documents” means this Agreement, each
Note (if any), the Guarantor Assumption Agreement, the Fee Letters and each
Subsidiary Guaranty (if any).

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

“Material Adverse Effect” means a material
adverse effect on (a) the Consolidated financial condition, business or
operations of the Guarantor and its Subsidiaries taken as a whole, (b) the
ability of the Obligors to perform their obligations under the Loan Documents
or (c) the rights and remedies of the Administrative Agent and the Lenders
under the Loan Documents.

“Material Debt” means Debt (other than Loans or
other Debt under this Agreement) of any one or more of the Guarantor and its
Subsidiaries in an aggregate principal amount exceeding $50,000,000.

 

 12

 

“Maturity Date” means April 25, 2012; provided
that, if the Transition Time shall not have occurred within 364 days of
the Closing Date, then the term “Maturity Date” shall mean
December 16, 2009.

“Moody’s” means Moody’s Investors Service, Inc.
and any successor to its business of rating debt securities.

“Moody’s Rating” means, at any time, the rating
published by Moody’s of the Borrower’s Index Debt.

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

“Nonrecourse Debt” means, at any time, all Debt
of Subsidiaries (and all other Persons which are consolidated on the Guarantor’s
financial statements in accordance with GAAP (such Subsidiaries or other
Persons a “Consolidated Person”)) of the Guarantor outstanding at such
time incurred on terms that recourse may be had to such Consolidated Person
only by enforcing the lender’s default remedies with respect to specific assets
which constitute collateral security for such Debt and not by way of action
against such Consolidated Person (nor against the Guarantor or such other
Consolidated Person of the Guarantor) as a general obligor in respect of such
Debt (subject to, for the avoidance of doubt, customary exceptions contained in
non-recourse financings to the non-recourse nature of the obligations
thereunder).

“Note” means a promissory note substantially in
the form of Exhibit A made by the Borrower in favor of a Lender evidencing
Loans made by such Lender, to the extent requested by such Lender pursuant to
Section 2.08(e).

“Obligors” means the Borrower and the
Guarantor.

“Other Bridge Loan Agreements” means (a) the
364-Day Senior Bridge Loan Agreement (Healthcare Businesses) dated as of the
date of this Agreement among TIGSA, the H Borrower, the Initial Guarantor, the
H Guarantor, the lenders party thereto, and Citibank, N.A., as Administrative
Agent and (b) the 364-Day Senior Bridge Loan Agreement (Fire & Safety and
Engineered Products Businesses) dated as of the date of this Agreement among
TIGSA, the T Borrower, the Initial Guarantor, the lenders party thereto, and
Citibank, N.A., as Administrative Agent.

“Other Credit Agreements” means the Credit
Agreement (Healthcare) and the Credit Agreement (Topaz).

“Other Taxes” means any and all present or
future, stamp or documentary taxes or any other excise or property taxes,
charges or similar levies (together with any addition to tax, penalty, fine or
interest thereon) arising from any payment made under any Loan Document or from
the execution, delivery or enforcement of, or otherwise with respect to, any
Loan Document.

 13
 

 

“Participant” has the meaning assigned to such
term in Section 10.04.

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

“Permitted Acquired Debt” means Debt of a
Person that exists at the time such Person becomes a Subsidiary or at the time
the Guarantor or a Subsidiary acquires all or substantially all of the assets
of such Person if such Debt is assumed by the Guarantor or such Subsidiary and
was not created in contemplation of any such event (“Acquired Debt”) and
any Refinancing thereof; provided if such Acquired Debt is Refinanced,
it shall constitute Permitted Acquired Debt only if the Borrower is the obligor
thereunder.

“Permitted
Securitization Transaction”  means any sale
or sales of any accounts receivable, general intangibles, chattel paper or
other financial assets and related rights and assets of the Guarantor and/or
any of its Subsidiaries, and financing secured by the assets so sold, pursuant
to which the Guarantor and its Subsidiaries realize aggregate net proceeds of
not more than $250,000,000, including, without limitation, any revolving
purchase(s) of such assets where the maximum aggregate uncollected purchase price
(exclusive of any deferred purchase price) therefor does not exceed
$250,000,000.

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

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

“Platform” has the meaning assigned to such
term in Section 10.15.

“Preferred Stock” means any preferred and/or
redeemable capital stock of the Guarantor or any Subsidiary, as the case may
be, that, by its terms (or by the terms of any security into which it is
convertible or for which it is exchangeable at the option of the holder
thereof), or upon the happening of any event, matures or is mandatorily
redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable
at the option of the holder, in whole or in part, on or prior to the Maturity
Date.

“Pricing Grid” means the Pricing Grid and the
conventions for determining pricing as set forth on Schedule 1.01.

“Refinancing” means, with respect to any
financing, any instrument or agreement amending, restating, supplementing,
extending, renewing, refunding, refinancing, replacing or otherwise modifying,
in whole or in part, the documents governing such financing (and “Refinance”
shall have a correlative meaning).

 14
 

 

“Register” has the meaning assigned to such
term in Section 10.04.

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

“Reportable Action” means any action, suit or
proceeding or investigation before any court, arbitrator or other governmental
body against the Guarantor or any of its Subsidiaries or any ERISA Event, in
each case in which there is a reasonable possibility of an adverse
determination that could reasonably be expected to have a Material Adverse
Effect.

“Required Lenders” means, at any time, Lenders
(not including the Borrower or any of its Affiliates) having aggregate
Applicable Percentages in excess of 50% at such time.

“Responsible Officer” means any of the
following:  (i) the Chief Executive
Officer, President, Vice President and Chief Financial Officer, Treasurer or
Secretary of the Guarantor or (ii) the Chief Executive Officer, President,
Vice President and Chief Financial Officer, Treasurer or Secretary of the
Borrower or a Managing Director of the Borrower.

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

“S&P” means Standard & Poor’s Ratings
Services, a division of The McGraw-Hill Companies, Inc. and any successor to
its business of rating debt securities.

“S&P Rating” means, at any time, the rating
published by S&P of the Borrower’s Index Debt.

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

“Separation Pro Formas” has the meaning
assigned to such term in Section 3.04(a).

“Separation Transactions” means the series of
transactions pursuant to which the assets, liabilities and businesses owned,
directly or indirectly, by the Initial Guarantor and TIGSA are being allocated
among the T Guarantor and its Subsidiaries (including the
T Borrower), the E Guarantor and its Subsidiaries (including the
Borrower) and the H Guarantor and its Subsidiaries (including the
H Borrower).  The steps of the
Separation Transactions will include, among others, (i) the contribution
of the assets, liabilities and businesses of TIGSA to the H Borrower (in the
case of the healthcare businesses of TIGSA and assets and liabilities relating
thereto), the Borrower (in the case of the electronics businesses of TIGSA and
assets and liabilities relating thereto) and the T Borrower (in the case of the
fire & security and engineered products businesses of TIGSA and assets and
liabilities relating thereto) (such transactions, the “TIGSA Separation”),
and the liquidation of TIGSA and liquidating distribution in connection
therewith of the shares of the H Guarantor, the E Guarantor and the T Borrower
to the Initial 

 15
 

 

Guarantor; and (ii) after the TIGSA Separation,
the distributions by the Initial Guarantor to its shareholders of the shares of
(x) the H Guarantor (the “Healthcare Spin Distribution”) and the E
Guarantor (the “Electronics Spin Distribution”; and together with the
Healthcare Spin Distribution, the “Spin Distributions”), with the
Initial Guarantor to remain the direct parent of the T Borrower.

“Significant Subsidiary” means, at any date,
any Subsidiary which, including its subsidiaries, meets any of the following
conditions:

(i)          the proportionate
share attributable to such Subsidiary of the total assets of the Guarantor
(after intercompany eliminations) exceeds 15% of the total assets of the
Guarantor, determined on a Consolidated basis as of the end of the most
recently completed fiscal year; or

(ii)         the Guarantor’s and
its Subsidiaries’ equity in the income of such Subsidiary from continuing
operations before income taxes, extraordinary items and cumulative effect of a
change in accounting principles exceeds 15% of Consolidated income of the
Guarantor from continuing operations before income taxes, any loss on the
retirement of debt, extraordinary items, cumulative effect of a change in
accounting principles, and before any impairment charges, determined for the
most recently completed fiscal year.

For the avoidance of doubt, the Borrower shall at all times be deemed a
“Significant Subsidiary”.

“SPC” has the meaning
assigned to such term in Section 10.04(g).

“Spin Distributions” has the meaning set forth
in the definition of “Separation Transactions”.

“Spin-off Agreements” means (a) the Separation
and Distribution Agreement to be entered into among the T Guarantor, the H
Guarantor and the E Guarantor and (b) the Tax Sharing Agreement to be entered
into among the T Guarantor, the H Guarantor and the E Guarantor, of which final
forms shall be publicly filed with the SEC.

“Stock” means, with respect to any Person, any
capital stock or equity securities of or other ownership interests in such
Person.

“Stock Equivalents” means, with respect to any
Person, options, warrants, calls or other rights entered into or issued by such
Person to acquire any Stock of, or securities convertible into or exchangeable
for Stock of, such Person.

“subsidiary” of a Person means a corporation,
partnership, joint venture, limited liability company or other 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 

 16
 

 

beneficially owned, or the management of which is
otherwise controlled, directly, or indirectly through one or more
intermediaries, or both, by such Person.

“Subsidiary” means any subsidiary of the
Guarantor.

“Subsidiary Guarantor” means each Subsidiary
that has executed a Subsidiary Guaranty pursuant to Section 5.12.

“Subsidiary Guaranty” means a guaranty entered
into by a Subsidiary in substantially the form of Exhibit D, with any such
modifications to such form as may be necessary or advisable and customary under
the local law of the jurisdiction of organization of the relevant Subsidiary,
in the judgment of the Obligors.

“T Borrower” means Tyco International Finance
S.A., a Luxembourg company.

“T Guarantor” means the Initial Guarantor.

“Taxes” means any and all present or future
taxes, levies, imposts, duties, deductions, charges or withholdings imposed or
asserted by any Governmental Authority, together with any addition to tax,
penalty, fine or interest thereon.

“TIGSA” means Tyco International Group S.A., a
Luxembourg company.

“TIGSA Separation” has the meaning set forth in
the definition of “Separation Transactions”.

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

“Transition Time” means the time of the
consummation of the Electronics Spin Distribution (provided that the
conditions set forth in Section 5.08(b) shall have been satisfied).

“Type”, when used in reference to any Loan or
Borrowing, refers to whether the rate of interest on such Loan, or on the Loans
comprising such Borrowing, is determined by reference to the LIBO Rate or the
Alternate Base Rate.

“Upfront Fee” has the meaning assigned to such
term in Section 2.10(a)(i).

“Wholly-Owned Consolidated Subsidiary” means
any Consolidated Subsidiary all of the shares of capital stock or other
ownership interests of which (except directors’ qualifying shares and
investments by foreign nationals mandated by applicable law) are at the time
beneficially owned, directly or indirectly, by the Guarantor.

 17
 

 

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

Section
1.02         Classification of Loans and Borrowings.  For purposes of this Agreement and the other
Loan Documents, Loans or Borrowings may be classified and referred to by Type
(e.g., a “Eurodollar Loan” or an “ABR Borrowing”).

Section
1.03         Terms Generally.  With
reference to this Agreement and each other Loan Document, unless otherwise
specified herein or in such other Loan Document:

The definitions of terms herein and therein shall apply equally to the
singular and plural forms of the terms defined. 
Whenever the context may require, any pronoun shall include the
corresponding masculine, feminine and neuter forms.  The words “include”, “includes”
and “including” shall be deemed to be followed by the phrase “without
limitation”.  The word “will”
shall be construed to have the same meaning and effect as the word “shall”.  Unless the context requires otherwise
(a) any definition of or reference to any agreement, instrument or other
document herein 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), (b) any reference herein to any Person
shall be construed to include such Person’s successors and assigns,
(c) the words “herein”, “hereof” and “hereunder”, and
words of similar import, shall be construed to refer to this Agreement in its
entirety and not to any particular provision hereof, (d) 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 and (e) 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.

Section
1.04         Accounting Terms; GAAP.  Except as otherwise expressly provided
herein, all terms of an accounting or financial nature shall be construed in
accordance with GAAP, as in effect from time to time; provided that, if
the Borrower notifies the Administrative Agent that the Borrower requests an
amendment to any provision hereof to eliminate the effect of any change
occurring after the date hereof in GAAP or in the application thereof on the
operation of such provision, regardless of whether any such notice is given
before or after such change in GAAP or in the application thereof, then
(i) the Administrative Agent, the Lenders and the Borrower shall negotiate
in good faith to amend such provision to preserve the original intent thereof
in light of such change in GAAP (subject to the approval of the Required Lenders)
and (ii) such provision shall be interpreted on the basis of GAAP as in
effect and applied immediately before such change shall have become effective
until such notice shall have been withdrawn or such provision amended in
accordance herewith.

 18
 

 

ARTICLE
II

The
Credits

Section
2.01         Commitments.

(a)           Subject
to the terms and conditions set forth herein, each Lender agrees to make Loans
to the Borrower from time to time during the Availability Period in an
aggregate principal amount that will not result in (i) such Lender’s
Revolving Credit Exposure exceeding such Lender’s then applicable Commitment or
(ii) the total Revolving Credit Exposures exceeding the then applicable
total Commitments.  Within the foregoing
limits and subject to the terms and conditions set forth herein, the Borrower
may borrow, prepay and reborrow Loans.

(b)           Prior
to the Transition Time, the Commitment of each Lender in effect shall be its
Initial Commitment.  Upon the Transition
Time, but only to the extent that the Transition Time occurs within
364 days of the Closing Date, each Lender’s Commitment shall automatically
be increased to its Increased Commitment. 
If the Transition Time shall fail to occur within 364 days of the
Closing Date, then the Commitment of each Lender shall remain its Initial
Commitment for the duration of the Availability Period and the Increased
Commitment of each Lender shall automatically terminate.

Section
2.02         Loans and Borrowings.

(a)           Each
Loan shall be made as part of a Borrowing consisting of Loans made by the Lenders
ratably in accordance with their then applicable respective Commitments.  The failure of any Lender to make any Loan
required to be made by it shall not relieve any other Lender of its obligations
hereunder.

(b)           Subject
to Section 9.03, each Borrowing shall be comprised entirely of ABR Loans
or Eurodollar Loans as the Borrower may request in accordance herewith.  Each Lender at its option may make any
Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such
Lender to make such Loan; provided that any exercise of such option
shall not affect the obligation of the Borrower to repay such Loan in
accordance with the terms of this Agreement or result in any obligations of the
Borrower to pay additional amounts under Section 9.03 or 9.05.

(c)           At
the commencement of each Interest Period for any Eurodollar Borrowing, and at
the time each ABR Borrowing is made, such Borrowing shall be in an aggregate
amount that is an integral multiple of $1,000,000 and not less than $10,000,000
(except that any such Borrowing may be in the aggregate amount that is equal to
the entire unused balance of the total Commitments).  Borrowings of more than one Type may be
outstanding at the same time; provided that there shall not be more than
a total of 10 Eurodollar Borrowings outstanding at the same time.

Section
2.03         Requests for Borrowings.

 19
 

 

(a)           To
request a Borrowing, the Borrower shall notify the Administrative Agent of such
request by telephone, facsimile or electronic mail (i) in the case of a
Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three
Business Days before the date of the proposed Borrowing (except as provided in
Section 2.03(b)) or (ii) in the case of an ABR Borrowing, not later than
11:00 a.m., New York City time, on the date of the proposed Borrowing.  Each Borrowing Request shall be irrevocable
and if made telephonically, shall be confirmed promptly, by hand delivery,
facsimile or electronic mail of a written Borrowing Request in a form approved
by the Administrative Agent, and be executed by a Managing Director of the
Borrower or another authorized borrowing representative of the Borrower, as
notified by the Borrower to the Administrative Agent from time to time.  Each such telephonic and written Borrowing
Request shall specify the following information in compliance with
Section 2.02:

(i)          the aggregate amount
of the requested Borrowing;

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

(iii)        whether such
Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;

(iv)       in the case of a
Eurodollar Borrowing, the initial Interest Period to be applicable thereto,
which shall be a period contemplated by the definition of the term “Interest
Period”; and

(v)        the location and number
of the Borrower’s account to which funds are to be disbursed, which shall
comply with the requirements of Section 2.05.

If no election as to the Type of Borrowing is specified, then the
requested Borrowing shall be an ABR Borrowing. 
If no Interest Period is specified with respect to any requested
Eurodollar Borrowing, then the Borrower shall be deemed to have selected an
Interest Period of one month’s duration. 
Promptly following receipt of a Borrowing Request in accordance with
this Section, the Administrative Agent shall advise each Lender of the details
thereof and of the amount of such Lender’s Loan to be made as part of the
requested Borrowing.

(b)           The
Borrower may request a Eurodollar Borrowing having an Interest Period other
than one, two, three or six months in duration as provided in the definition of
“Interest Period” by notifying the Administrative Agent not later than
11:00 a.m., New York City time, four Business Days prior to the requested date
of such Borrowing having such Interest Period, whereupon the Administrative Agent
shall give prompt notice to the Lenders of such request and determine whether
the requested Interest Period is acceptable to all of them; and not later than
8:00 a.m., New York City time, on the Business Day after receiving such
request from the Borrower, the Administrative Agent shall notify the Borrower
whether or not the requested Interest Period has been agreed to by all the
Lenders.  If such requested Interest
Period is so approved by all of the Lenders, the Borrower may thereafter from
time to time elect to make Borrowing Requests under Section 2.03(a) and
Interest Election Requests under Section 2.06(c) 

 20
 

 

designating such Interest Period, until the Administrative Agent
notifies the Borrower that the Required Lenders have elected to revoke such approval.

Section
2.04         [Intentionally Omitted].

Section
2.05         Funding of Borrowings.

(a)           Each
Lender shall make each Loan to be made by it hereunder on the proposed date
thereof by wire transfer of immediately available funds by 1:00 p.m., New York
City time, to the account of the Administrative Agent most recently designated
by it for such purpose by notice to the Lenders.  Upon satisfaction of the applicable
conditions set forth in Section 4.02 (and, if such Borrowing is the
initial Borrowing, Section 4.01), the Administrative Agent will make all
funds so received available to the Borrower in like funds as received by the
Administrative Agent either by (i) crediting the amounts so received, in
like funds, to an account of the Borrower maintained with the Administrative
Agent in New York City or (ii) wire transfer of such funds, in each case
in accordance with instructions provided to the Administrative Agent in the
applicable Borrowing Request.

(b)           Unless
the Administrative Agent shall have received notice from a Lender prior to the
proposed date of any Borrowing that such Lender will not make available to the
Administrative Agent such Lender’s share of such Borrowing, or by 12:00 p.m.
New York City time on the proposed date of such Borrowing, in the case of ABR
Borrowings, the Administrative Agent may assume that such Lender has made such
share available on such date in accordance with paragraph (a) of this
Section and may, in reliance upon such assumption, make available to the
Borrower a corresponding amount.  If and
to the extent that such Lender did not make available such Lender’s share of
such Borrowing, then such Lender shall forthwith on demand pay to the
Administrative Agent the amount thereof in immediately available funds,
together with interest thereon for the period from the date such amount was
made available by the Administrative Agent to the Borrower to the date such
amount is recovered by the Administrative Agent (the “Compensation Period”)
at a rate per annum equal to the Federal Funds Effective Rate from time to time
in effect plus the Administrative Agent’s standard processing fee for interbank
compensation.  If such Lender pays such
amount to the Administrative Agent, then such amount shall constitute such
Lender’s Loan included in the applicable Borrowing.  If such Lender does not pay such amount
forthwith upon the Administrative Agent’s demand therefor, the Administrative
Agent may make a demand therefor upon the Borrower, and the Borrower shall pay
such amount to the Administrative Agent, together with the interest thereon for
the Compensation Period at a rate per annum equal to the rate of interest
applicable to the applicable Borrowing. 
Nothing herein shall be deemed to relieve any Lender from its obligation
to fulfill its Commitment or to prejudice any rights which the Administrative
Agent or the Borrower may have against any Lender as a result of any default by
such Lender hereunder.

Section
2.06         Interest Elections.

 21
 

 

(a)           Each
Borrowing initially shall be of the Type specified in the applicable Borrowing
Request and, in the case of a Eurodollar Borrowing, shall have an initial
Interest Period as specified in such Borrowing Request.  Thereafter, the Borrower may elect to convert
such Borrowing to a different Type or to continue such Borrowing and, in the
case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as
provided in this Section.  The Borrower
may elect different options with respect to different portions of the affected
Borrowing, in which case each such portion shall be allocated ratably among the
Lenders holding the Loans comprising such Borrowing, and the Loans comprising
each such portion shall be considered a separate Borrowing.

(b)           To
make an election pursuant to this Section, the Borrower shall notify the Administrative
Agent of such election by telephone, facsimile or electronic mail by the time
that a Borrowing Request would be required under Section 2.03 if the
Borrower were requesting a Borrowing of the Type resulting from such election
to be made on the effective date of such election.  Each such Interest Election Request shall be
irrevocable and, if made telephonically, shall be confirmed promptly in a
signed notice by hand delivery, facsimile or electronic mail to the
Administrative Agent of a written Interest Election Request in a form approved
by the Administrative Agent.

(c)           Each
telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02:

(i)          the Borrowing to
which such Interest Election Request applies and, if different options are
being elected with respect to different portions thereof, the portions thereof
to be allocated to each resulting Borrowing (in which case the information to
be specified pursuant to clauses (iii) and (iv) below shall be
specified for each resulting Borrowing);

(ii)         the effective date of
the election made pursuant to such Interest Election Request, which shall be a
Business Day;

(iii)        whether the resulting
Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; and

(iv)       if the resulting
Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable
thereto after giving effect to such election, which shall be a period
contemplated by the definition of the term “Interest Period”, subject to
Section 2.03(b).

If any such Interest Election Request requests a
Eurodollar Borrowing but does not specify an Interest Period, then the Borrower
shall be deemed to have selected an Interest Period of one month’s duration.

(d)           Promptly
following receipt of an Interest Election Request, the Administrative Agent
shall advise each Lender of the details thereof and of such Lender’s portion of
each resulting Borrowing.

 

 22

 

(e)           If
the Borrower fails to deliver a timely Interest Election Request with respect
to a Eurodollar Borrowing prior to the end of the Interest Period applicable
thereto, then, unless such Borrowing is repaid as provided herein, at the end
of such Interest Period such Borrowing shall be converted to an ABR
Borrowing.  Notwithstanding any contrary
provision hereof, if an Event of Default under clause (a) or (b) of
Article VI has occurred and is continuing and the Administrative Agent, at
the request of the Required Lenders, so notifies the Borrower, then, so long as
such Event of Default is continuing (i) no outstanding Borrowing may be
converted to or continued as a Eurodollar Borrowing and (ii) unless
repaid, each Eurodollar Borrowing shall be converted to an ABR Borrowing at the
end of the Interest Period applicable thereto.

Section
2.07         Termination and Reduction of
Commitments.

(a)           Unless
previously terminated, the Commitments shall terminate on the Maturity Date.

(b)           The
Borrower may at any time terminate, or from time to time reduce, the
Commitments; provided that (i) each reduction of the Commitments
shall be in an amount that is an integral multiple of $1,000,000 and not less
than $10,000,000 and (ii) the Borrower shall not terminate or reduce the
Commitments if, after giving effect to any concurrent prepayment of the Loans
in accordance with Section 2.09, the total Revolving Credit Exposures
would exceed the total Commitments.

(c)           The
Borrower shall notify the Administrative Agent of any election to terminate or
reduce the Commitments under paragraph (b) of this Section at least
three Business Days prior to the effective date of such termination or
reduction, specifying such election and the effective date thereof, provided
that a notice of termination of the Commitments delivered by the Borrower may
state that such notice is conditioned upon the effectiveness of other credit
facilities, 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 condition is not satisfied. 
Promptly following receipt of any notice, the Administrative Agent shall
advise the Lenders of the contents thereof. 
Any termination or reduction of the Commitments shall be permanent.  Each reduction of the Commitments shall be
made ratably among the Lenders in accordance with their respective Commitments.

Section
2.08         Repayment of Loans; Evidence
of Debt.

(a)           The
Borrower hereby unconditionally promises to pay to the Administrative Agent for
the account of each Lender the then unpaid principal amount of each Loan on the
Maturity Date.

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

 23
 

 

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

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

(e)           Any
Lender may request that Loans made by it be evidenced by a Note.  In such event, the Borrower shall prepare,
execute and deliver to such Lender a Note payable to the order of such Lender
(or, if requested by such Lender, to such Lender and its registered
assigns).  Thereafter, the Loans
evidenced by such Note and interest thereon shall at all times (including after
assignment pursuant to Section 10.04) be represented by one or more Notes
payable to the order of the payee named therein (or, if such Note is a
registered note, to such payee and its registered assigns).

Section
2.09         Prepayment of Loans.

(a)           The
Borrower shall have the right at any time and from time to time to prepay any
Borrowing in whole or in part subject to prior notice in accordance with
paragraph (b) of this Section.

(b)           The
Borrower shall notify the Administrative Agent by telephone (confirmed in a
signed notice sent by facsimile or electronic mail) of any prepayment hereunder
(i) in the case of prepayment of a Eurodollar Borrowing, not later than
11:00 a.m., New York City time, three Business Days before the date of
prepayment, or (ii) in the case of prepayment of an ABR Borrowing, not
later than 11:00 a.m., New York City time, on the date of prepayment.  Each such notice shall specify the prepayment
date and the principal amount of each Borrowing or portion thereof to be
prepaid provided that, if a notice of optional prepayment is given in
connection with a conditional notice of termination of the Commitments as
contemplated by Section 2.07(c), then such notice of prepayment may be
revoked if such notice of termination is revoked in accordance with
Section 2.07(c).  Promptly following
receipt of any such notice relating to a Borrowing, the Administrative Agent
shall advise the Lenders of the contents thereof.  Each partial prepayment of any Borrowing
shall be in an amount that would be permitted in the case of an advance of a
Borrowing of the same Type as provided in Section 2.02(c).  Each prepayment of a Borrowing shall be
applied ratably to the Loans included in the prepaid Borrowing.  Prepayments shall be accompanied by accrued
interest to the extent required by Section 2.11 and break funding payments
to the extent required by Section 9.04.

 24
 

 

Section
2.10         Fees.

(a)           The
Borrower agrees to pay to the Administrative Agent for the account of each
Lender the following fees:

(i)          on the Closing Date,
an upfront fee in an amount equal to the product of (x) such Lender’s
Increased Commitment amount, multiplied by (y) the rate set forth on the
Pricing Grid opposite the applicable Index Debt Rating as of the Closing Date
under the heading “Upfront Fee” (the “Upfront Fee”).

(ii)         a facility fee, which
shall accrue on the daily amount of the then applicable Commitment of such
Lender (whether used or unused) during the period from and including the
earlier of the Effective Date and the date that is 45 days following the
Closing Date to but excluding the date on which such Commitment terminates, at
the rate per annum set forth on the Pricing Grid opposite the reference to the
applicable Index Debt Rating under the heading “Applicable Facility Fee Rate”
(the “Facility Fee”); provided that, if such Lender continues to
have any Revolving Credit Exposure after its Commitment terminates, then such
Facility Fee shall continue to accrue on the daily amount of such Lender’s
Revolving Credit Exposure from and including the date on which its Commitment
terminates to but excluding the date on which such Lender ceases to have any
Revolving Credit Exposure.  Facility Fees
accrued through and including the last Business Day of March, June, September
and December of each year shall be payable on each such last day, commencing on
the first such date to occur after the date hereof; provided that all
such fees shall be payable on the date on which the Commitments terminate and
any such fees accruing after the date on which the Commitments terminate shall
be payable on demand.

(b)           The
Borrower agrees to pay to the Administrative Agent and the Global Coordinators,
for their own accounts, the fees payable in the amounts and at the times agreed
in the Fee Letters.  Such fees shall be
fully earned when paid and shall not be refundable for any reason whatsoever.

(c)           All
fees payable hereunder shall be paid on the dates due, in immediately available
funds, to the Administrative Agent for distribution, in the case of Upfront
Fees and Facility Fees, to the Lenders. 
Fees paid shall not be refundable under any circumstances.

Section
2.11         Interest.

(a)           The
Loans comprising each ABR Borrowing shall bear interest at the Alternate Base
Rate.

(b)           The
Loans comprising each Eurodollar Borrowing shall bear interest at the LIBO Rate
for the Interest Period in effect for such Borrowing plus the Applicable
Margin.

 25
 

 

(c)           Notwithstanding
the foregoing, if any principal of or interest on any Loan or any fee or other
amount payable by the Borrower under any Loan Document is not paid when due,
whether at stated maturity, upon acceleration or otherwise, such overdue amount
shall bear interest, after as well as before judgment, at a rate per annum
equal to (i) in the case of overdue principal of any Loan, 2% plus the
rate otherwise applicable to such Loan as provided in the preceding paragraphs
of this Section or (ii) in the case of any other amount, 2% plus the
rate applicable to ABR Loans as provided in paragraph (a) of this Section.

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

Section
2.12         Calculation of Interest and
Fees.

(a)           All
interest hereunder shall be computed on the basis of a year of 360 days,
except that interest computed by reference to the Alternate Base Rate at times
when the Alternate Base Rate is based on the Base Rate shall be computed on the
basis of a year of 365 days (or 366 days in a leap year), and in each
case shall be payable for the actual number of days elapsed (including the
first day but excluding the last day). 
The applicable Alternate Base Rate or LIBO Rate shall be determined by
the Administrative Agent, and such determination shall be conclusive absent
manifest error.

(b)           All fees hereunder shall be computed on the
basis of a year of 360 days and shall be payable for the actual number of
days elapsed (including the first day but excluding the last day).

Section
2.13         Payments Generally; Pro Rata
Treatment; Sharing of Set-offs.

(a)           The
Borrower shall make each payment required to be made by it hereunder (whether
of principal, interest or fees, or of amounts payable under Section 9.03,
9.04 or 9.05, or otherwise) prior to 2:00 p.m., New York City time, on the date
when due, in immediately available funds, without set off or counterclaim.  Any amounts received after such time on any
date may, in the discretion of the Administrative Agent, be deemed to have been
received on the next succeeding Business Day for purposes of calculating
interest thereon; provided that no amount shall be deemed to have been
received on the next succeeding Business Day if the Borrower provides the
Administrative Agent with written confirmation of a Federal Reserve Bank
reference number no later than 4:00 p.m. on the date when due.  All such payments shall be made to the
Administrative Agent at the Administrative Agent’s Office, except that payments
pursuant to Sections 9.03, 9.04, 9.05 and 10.03 shall be made directly to 

 26
 

 

the Persons entitled thereto. 
The Administrative Agent shall distribute any such payments received by
it for the account of any other Person to the appropriate recipient promptly
following receipt thereof.  If any
payment hereunder shall be due on a day that is not a Business Day, the date
for payment shall be extended to the next succeeding Business Day, and, in the
case of any payment accruing interest, interest thereon shall be payable for
the period of such extension.  All
payments under this Agreement and the other Loan Documents shall be made in
dollars in New York, New York.

(b)           If
at any time insufficient funds are received by and available to the
Administrative Agent to pay fully all amounts of principal, interest and fees
then due hereunder, such funds shall be applied (i) first, towards payment
of interest and fees then due hereunder, ratably among the parties entitled
thereto in accordance with the amounts of interest and fees then due to such
parties, and (ii) second, towards payment of principal then due hereunder,
ratably among the parties entitled thereto in accordance with the amounts of
principal then due to such parties.

(c)           If
any Lender shall, by exercising any right of set off or counterclaim or
otherwise, obtain payment in respect of any principal of or interest on any of
its Loans or other obligations hereunder resulting in such Lender receiving
payment of a proportion of the aggregate amount of its Loans and accrued
interest thereon or such other obligations greater than its pro rata share
thereof as provided herein, 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 such
other obligations of the other Lenders, or make such other adjustments that
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 principal of and
accrued interest on their respective Loans and other amounts owing them; provided
that (i) if any such participations are purchased and all or any portion
of the payment giving rise thereto is recovered, such participations shall be
rescinded and the purchase price restored to the extent of such recovery,
without interest, and (ii) the provisions of this paragraph shall not be
construed to apply to any payment made by the Borrower pursuant to and in
accordance with the express terms of this Agreement or any payment obtained by
a Lender as consideration for the assignment of or sale of a participation in
any of its Loans to any assignee or participant, other than to the Borrower or
any Subsidiary thereof (as to which the provisions of this paragraph shall
apply).  The Borrower and the Guarantor
each consent to the foregoing and each agree, 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 and the
Guarantor rights of setoff and counterclaim with respect to such participation
as fully as if such Lender were a direct creditor of the Borrower or the
Guarantor in the amount of such participation.

(d)           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 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 Lenders the 

 27
 

 

amount due.  In such event, if
the Borrower has not in fact made such payment, then each of the Lenders
severally agrees to repay to the Administrative Agent forthwith on demand the
amount so distributed to such Lender 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 Effective Rate and a rate determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation.

(e)           If
any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.05(b) or 2.13(d), then the Administrative Agent may, in its
discretion (notwithstanding any contrary provision hereof), apply any amounts
thereafter received by the Administrative Agent for the account of such Lender
to satisfy such Lender’s obligations under such Sections until all such
unsatisfied obligations are fully paid.

ARTICLE
III

Representations
and Warranties

Each Obligor represents and warrants to the
Administrative Agent and the Lenders that:

Section
3.01         Organization; Powers. 
Each Obligor is a company duly organized or formed and validly existing
under the laws of its jurisdiction of organization or formation.  Each Obligor has all corporate powers and all
governmental licenses, authorizations, consents and approvals required to carry
on its business as now conducted, except to the extent that failure to have any
such power or governmental license, authorization, consent or approval could
not, based upon the facts and circumstances in existence at the time this
representation and warranty is made or deemed made, reasonably be expected to
have a Material Adverse Effect.

Section
3.02         Authorization; Enforceability.  The Transactions are within such Obligor’s
corporate powers and have been duly authorized by all necessary corporate and,
if required, stockholder action.  This
Agreement and each other Loan Document to which such Obligor is a party has
been duly executed and delivered by such Obligor and constitutes a legal, valid
and binding obligation of such Obligor, enforceable in accordance with its
terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium
or other laws affecting creditors’ rights generally and subject to general
principles of equity, regardless of whether considered in a proceeding in
equity or at law.

Section
3.03         Governmental Approvals; No Conflicts.  The Transactions (a) do not require any
consent or approval of, registration or filing with, or any other action by,
any Governmental Authority, except such as have been obtained or made and are
in full force and effect, (b) will not violate, contravene, or constitute
a default under any provision of (i) any applicable law or regulation,
(ii) the charter, by-laws or other organizational documents of such
Obligor, (iii) any order, judgment, decree or injunction of any
Governmental Authority, (iv) any agreement or instrument evidencing or
governing Debt of such Obligor, except for any contravention or default under
any such agreement or instrument evidencing or governing such 

 28
 

 

Debt in an aggregate principal amount,
individually or in the aggregate for all such agreements or instruments in
respect of which there is a contravention or default, not in excess of
$25,000,000 or (v) any other material agreement or instrument binding upon
such Obligor or its assets.

Section
3.04         Financial Condition; No
Material Adverse Change.

(a)           The
Guarantor has heretofore furnished to the Administrative Agent (i) its
Consolidated balance sheet and statements of income, shareholders equity and
cash flows, as and for the fiscal year ended September 29, 2006, reported
on by Deloitte & Touche LLP, independent public accountants, (ii) the
combined balance sheet and statements of income of certain electronics related
subsidiaries and businesses of the Guarantor, as described in the Electronics
Registration Statement, as of and for the fiscal year ended September 29,
2006, reported on by Deloitte & Touche LLP, independent public accountants
and (iii) its pro forma
combined balance sheet and statements of income as of such date or for such
period, adjusted to give pro forma
effect to the consummation of the Separation Transactions, certified by its
chief financial officer (the “Separation Pro Forma”).  Such financial statements, (A) present
fairly, in all material respects, the consolidated financial position and
results of operations and cash flows of the Guarantor, in the case of the
statements referred to in clause (i) above, and the combined financial
position and results of operations of such subsidiaries and businesses, in the
case of the statements referred to in clause (ii) above, in each case as
of such date and for such period in accordance with GAAP and (B) in the
case of the Separation Pro Formas, have been prepared in good faith by the
Guarantor, based on assumptions used to prepare the pro forma
financial information contained in the S-1 Registration Statement filed by the
Borrower and the E Guarantor with the SEC on January 18, 2007, as amended
by the amendment thereto filed with the SEC on April 20, 2007 (the “Electronics
Registration Statement”) (which assumptions are believed by the Guarantor
on the Closing Date to be reasonable under the circumstances and were based
upon currently available information as of the date of filing), and reflect on
a pro forma basis the estimated
Consolidated financial position and results of operations of the Guarantor and
its Subsidiaries as of such date, assuming the Spin Distributions had actually
occurred (x) at September 29, 2006, in the case of such balance
sheet, or (y) on October 1, 2005, in the case of such statements of
income, and giving pro forma
effect to the other events and adjustments referred to with respect to such
financial statements in the Electronics Registration Statement.

(b)           Since
September 29, 2006, except for the Separation Transactions, there has been
no material adverse change in (i) the consolidated financial condition,
business or operations of the Guarantor and its Subsidiaries, taken as a whole
or (ii) the electronics business or operations of the Initial Guarantor
and its subsidiaries, taken as a whole; provided that, for purposes of
this Section 3.04(b), a “material adverse change” shall not include any
change to the extent resulting solely from any Existing Indenture Covered
Default.

Section
3.05         Litigation and Environmental
Matters.

 29
 

 

(a)           There
are no actions, suits, investigations or proceedings by or before any
arbitrator or Governmental Authority pending against or, to the knowledge of
the Obligors, threatened against or affecting the Guarantor or any of its
Subsidiaries (i) as to which there is a reasonable possibility of an
adverse determination which could, based upon the facts and circumstances in
existence at the time this representation and warranty is made or deemed made,
reasonably be expected to result in a Material Adverse Effect, other than the
matters described in the Guarantor’s filings of Forms 10K, 10Q or 8K or in the
Form-10s, in each case on or before the date hereof (the “Existing
Litigation”), and other than shareholders’ derivative litigation or
shareholders’ class actions based on the same facts and circumstances as the
Existing Litigation, or (ii) that could reasonably be expected to
adversely affect the validity or enforceability of any of the Loan Documents or
the Transactions.

(b)           Except
with respect to any matters that could not, based upon the facts and
circumstances in existence at the time this representation and warranty is made
or deemed made, reasonably be expected to result in a Material Adverse Effect
and except for the matters described in the Guarantor’s filings of Forms 10K,
10Q or 8K or in the Form-10s, in each case on or before the date hereof, neither
the Guarantor nor any of its Subsidiaries (i) has failed to comply with
any Environmental Law or to obtain, maintain or comply with any permit, license
or other approval required under any Environmental Law or (ii) has become
subject to any Environmental Liability.

Section
3.06         Investment Company Status. 
Neither Obligor is an “investment company” as defined in, or subject to
regulation under, the Investment Company Act of 1940.

Section
3.07         Taxes.  Each of the
Guarantor and its Significant Subsidiaries has timely filed or caused to be
filed all Tax returns and reports required to have been filed and has paid or
caused to be paid all Taxes required to have been paid by it, except
(a) Taxes that are being contested in good faith by appropriate proceedings
and for which the Guarantor or such Significant Subsidiary, as applicable, has
set aside on its books adequate reserves or (b) to the extent that the
failure to do so could not, based upon the facts and circumstances in existence
at the time this representation and warranty is made or deemed made, reasonably
be expected to result in a Material Adverse Effect.

Section
3.08         ERISA.  No ERISA Event
has occurred or is reasonably expected to occur that, when taken together with
all other such ERISA Events for which liability is reasonably expected to
occur, could, based upon the facts and circumstances in existence at the time
this representation and warranty is made or deemed made, reasonably be expected
to result in a Material Adverse Effect. 
The present value of all accumulated benefit obligations of all
underfunded Plans (based on the assumptions used for purposes of Statement of
Financial Accounting Standards No. 87) did not, as of the date of the most
recent financial statements reflecting such amounts, exceed the fair market
value of the assets of all such underfunded Plans by an amount which could
based upon the facts and circumstances existing at the time this representation
and warranty is made or deemed made, reasonably be expected to result in a
Material Adverse Effect.

 30
 

 

Section
3.09         Disclosure.  All
information heretofore furnished by or on behalf of the Obligors to the
Administrative Agent or the Lenders in connection with this Agreement or the
other Loan Documents, when taken as a whole, does not contain any untrue
statement of material fact or omit to state any material fact necessary to make
the statements contained herein or therein, in light of the circumstances under
which they were made, not misleading; provided that with respect to
projections and other forward-looking information, the Obligors represent and
warrant only that such information was prepared in good faith based upon
assumptions believed to be reasonable at the time made, it being understood
that projections and forward-looking information are subject to significant
uncertainties and contingencies, many of which are beyond the control of the
Obligors and that no assurance can be given that such projections will be
realized.

Section
3.10         Subsidiaries.  Each of
the Guarantor’s Subsidiaries is duly organized or formed, validly existing and
(to the extent such concept is applicable to it) in good standing under the
laws of its jurisdiction of organization or formation, except where the failure
to be so organized, existing or in good standing could not, based upon the
facts and circumstances existing at the time this representation and warranty
is made or deemed made, reasonably be expected to have a Material Adverse
Effect.  Each such Subsidiary has all
legal powers and all governmental licenses, authorizations, consents and
approvals required to carry on its business as now conducted, except to the
extent that failure to have any such power or governmental license,
authorization, consent or approval could not, based upon the facts and circumstances
in existence at the time this representation and warranty is made or deemed
made, reasonably be expected to have a Material Adverse Effect.

Section
3.11         Margin Regulations.  Neither Obligor is engaged principally or as
one of its important activities in the business of buying or carrying margin
stock within the meaning of Regulation U of the Board.

ARTICLE
IV

Conditions

Section
4.01         Effective Date.  The
obligations of the Lenders to make Loans hereunder shall not become effective
until the date on which each of the following conditions is satisfied (or
waived in accordance with Section 10.02):

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

 31
 

 

(b)           The
Administrative Agent (or its counsel) shall have received a Note executed by
the Borrower in favor of each Lender that requested a Note prior to the Closing
Date in accordance with Section 2.08(e).

(c)           The
Administrative Agent shall have received a favorable written opinion (addressed
to the Administrative Agent and the Lenders and dated the date of this
Agreement) of (i) the general counsel of the Guarantor in substantially
the form attached as Exhibit C-1, (ii) Allen & Overy, special
Luxembourg counsel of the Borrower in substantially the form attached as
Exhibit C-2, (iii) Appleby Hunter Bailhache, special Bermudian
counsel of the Guarantor, in substantially the form attached as
Exhibit C-3 and (iv) Gibson, Dunn & Crutcher LLP, special New York
counsel of the Obligors in substantially the form attached as Exhibit C-4.

(d)           The
Administrative Agent shall have received on or before the date of this
Agreement certified copies of the charter, by-laws and other constitutive
documents of each Obligor and the E Guarantor and of resolutions of the Board
of Directors of each Obligor and the E Guarantor authorizing the Transactions,
together with incumbency certificates dated the date of this Agreement
evidencing the identity, authority and capacity of each Person authorized to
execute and deliver this Agreement, the other Loan Documents and any other
documents to be delivered by such Obligor and the E Guarantor pursuant hereto,
all in form and substance reasonably satisfactory to the Administrative Agent and
its counsel.

(e)           The
Administrative Agent shall have received a certificate, dated the date of this
Agreement and signed by a Responsible Officer, confirming that (i) the
representations and warranties of each Obligor set forth in Article III of
this Agreement are true and correct and (ii) no Default has occurred and
is continuing.

(f)            The
Administrative Agent shall have received evidence reasonably satisfactory to it
of the consent of CT Corporation System in New York, New York to the
appointment and designation provided by Section 10.09(d).

(g)           The
Administrative Agent shall have received payment of Upfront Fees for the
account of each Lender pursuant to Section 2.10(a)(i).

(h)           The
Borrower shall have paid all fees required to be paid by it pursuant to the Fee
Letters and, unless waived by the Administrative Agent and the Global
Coordinators, the Borrower shall have paid all legal fees and expenses of the
Administrative Agent and the Global Coordinators required to be paid pursuant
to the terms of this Agreement and to the extent invoiced and received by the
Borrower prior to the Closing Date.

(i)            The
Administrative Agent shall have received evidence reasonably satisfactory to it
that the commitments under the Existing Tyco Credit Agreements have been, or
concurrently with the Effective Date are being terminated and that all amounts
due under the Existing Tyco Credit Agreements have been paid in full in cash or
are being paid in full out of the proceeds of the initial Borrowing or
concurrently with the effectiveness hereof out of the proceeds of the initial
borrowing under the Bridge Loan Agreement.

 

 32

 

(j)            The
Administrative Agent shall have received evidence reasonably satisfactory to it
that the TIGSA Separation shall have been consummated or is being consummated
contemporaneously with the effectiveness hereof on the Effective Date.

The Administrative Agent shall (i) notify the
Borrower and the Lenders of the satisfaction of the conditions described in
clauses (a) through (h) above on the Closing Date and
(ii) notify the Borrower and the Lenders of the Effective Date.  Each such notice shall be conclusive and
binding.

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

(a)           The
representations and warranties of the Obligors set forth in Article III of
this Agreement (other than Section 3.04, Section 3.05(a)(i) or
(b), or Section 3.09) or any other Loan Document, or which are contained
in any certificate or notice delivered at any time by any Obligor under or in
connection herewith or therewith, shall be true and correct in all material
respects on and as of the date of such Borrowing, before and after giving
effect to such Borrowing, or if any such representation or warranty was made as
of a specific date, such representation and warranty was true and correct in
all material respects on and as of such date.

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

(c)           The
Borrower shall have delivered a Borrowing Request in accordance with
Section 2.03.

Each Borrowing Request shall be deemed to constitute a
representation and warranty by the Obligors on the date of such Borrowing
Request and the date of the Borrowing requested thereunder as to the matters
specified in paragraphs (a) and (b) of this Section.

ARTICLE V

Covenants

From and after the Effective Date, until the
Commitments have expired or been terminated and the principal of and interest
on each Loan and all fees payable under the Loan Documents shall have been paid
in full, the Guarantor (and the Borrower, where applicable) covenants and
agrees with the Lenders that:

Section
5.01         Financial Statements and Other Information.  The Guarantor will furnish to the
Administrative Agent (which, except as otherwise provided below with respect to
subsections (a), (b) or (e), the Administrative Agent shall promptly
furnish to each Lender):

 33
 

 

(a)           within
120 days after the end of each fiscal year of the Guarantor, its audited
Consolidated balance sheet and related statements of operations, shareholders’
equity and cash flows as of the end of and for such fiscal year, setting forth
in each case in comparative form the figures for the previous fiscal year, all
reported on by Deloitte & Touche LLP or other independent public
accountants of internationally recognized standing in a manner complying with
the applicable rules and regulations promulgated by the SEC;

(b)           (i)
within 60 days after the end of each of the first three fiscal quarters of
each fiscal year of the Guarantor, its Consolidated balance sheet and related
statements of operations and cash flows for such fiscal quarter and the related
statements of operations and cash flows for the then elapsed portion of the
fiscal year, setting forth in each case in comparative form the figures for the
corresponding period or periods of the previous fiscal year, all certified as
to GAAP (subject to the absence of footnotes, audit and normal year-end
adjustments) on behalf of the Guarantor by the chief financial officer or the
chief accounting officer of the Guarantor or a Designated Officer; (ii) as
and when filed with the SEC, for any of the first three fiscal quarters of each
fiscal year of the Guarantor which fiscal year ends on or prior to the date of
the Electronics Spin Distribution, the combined balance sheet and related
statements of income of certain electronics related subsidiaries and businesses
of the Guarantor for such fiscal quarter, certified by the chief financial
officer of the electronics businesses of the Guarantor; and (iii) as and
when filed with the SEC, for any of the first three fiscal quarters of each
fiscal year of the Guarantor during which quarter the Electronics Spin
Distribution occurs, the statement of income of the Guarantor for such fiscal
quarter, certified as to GAAP (subject to the absence of footnotes, audit and
normal year-end adjustments) on behalf of the Guarantor by the chief financial
officer or the chief accounting officer of the Guarantor or a Designated
Officer;

(c)           concurrently
with any delivery of financial statements under clause (a) or
(b) above, a certificate on behalf of the Guarantor signed by the chief
financial officer or the chief accounting officer of the Guarantor or a
Designated Officer (i) certifying as to whether a Default has occurred
and, if a Default has occurred, specifying the details thereof and any action
taken or proposed to be taken with respect thereto, and (ii) setting forth
reasonably detailed calculations demonstrating whether the Guarantor was in
compliance with Section 5.09;

(d)           within
five Business Days after any Responsible Officer obtains knowledge of any
Default, if such Default is then continuing, a certificate on behalf of the
Guarantor signed by a Responsible Officer of the Guarantor or a Designated
Officer setting forth, in reasonable detail, the nature thereof and the action
which the Guarantor is taking or proposes to take with respect thereto;

(e)           promptly
upon the filing thereof, copies of all final registration statements (other
than the exhibits thereto and any registration statements on Form S-8 or
its equivalent), final reports on Forms 10-K, 10-Q and 8-K (or their
equivalents) and proxy statements which the Guarantor or the Borrower shall
have filed with the SEC;

 34
 

 

(f)            promptly
upon any Responsible Officer obtaining knowledge of the commencement of any
Reportable Action, a certificate on behalf of the Guarantor specifying the
nature of such Reportable Action and what action the Guarantor is taking or
proposes to take with respect thereto; and

(g)           from
time to time, upon reasonable notice, such other information regarding the
financial position or business of the Guarantor and its Subsidiaries, or
compliance with the terms of this Agreement, as any Lender through the
Administrative Agent may reasonably request.

Information required to be delivered pursuant to subsections (a),
(b) or (e) above may be delivered electronically and if so delivered,
shall be deemed to have been delivered on the date (i) on which the
Guarantor posts such documents, or provides a link thereto on the Guarantor’s
website on the Internet at www.tyco.com
(or such other website as the Guarantor may designate in the Guarantor
Assumption Agreement or in a writing delivered to the Administrative Agent),
or at sec.gov/edaux/searches.htm; or (ii) on which such documents are
posted on the Guarantor’s behalf, or delivered to the Administrative Agent by
the Guarantor in accordance with Section 10.15.

Section
5.02         Existence; Conduct of
Business.  The
Guarantor will:

(a)           not
engage in any material business other than the holding of stock and other
investments in its Subsidiaries and activities reasonably related thereto;

(b)           cause
the Borrower and subsidiaries of the Borrower to not engage in any business
other than businesses of the same general type as conducted by the subsidiaries
of TIGSA engaged in TIGSA’s electronics businesses immediately prior to the
TIGSA Separation, or which are related thereto or extensions thereof, and other
than businesses which are not in the aggregate material to the Guarantor and
its Subsidiaries taken as a whole; and

(c)           preserve,
renew and keep in full force and effect, and will cause each Significant
Subsidiary to preserve, renew and keep in full force and effect (i) their
respective legal existence and (ii) their respective rights, privileges
and franchises necessary or desirable in the normal conduct of business, unless
in the case of either the failure of the Guarantor to comply with
subclause (c)(ii) of this Section 5.02 or the failure of a
Significant Subsidiary to comply with clause (c) of this
Section 5.02, such failure could not, based upon the facts and
circumstances existing at the time, reasonably be expected to have a Material
Adverse Effect;

provided that nothing in this
Section 5.02 shall prohibit the Separation Transactions or any transaction
permitted by Section 5.08.

Section
5.03         Maintenance of Properties; Insurance.  The Guarantor will, and will cause each of
its Subsidiaries to, (a) keep and maintain all property material to the
conduct of its business in good working order and condition, ordinary wear and
tear excepted, and (b) maintain, with financially sound and reputable
insurance companies, insurance in such 

 35
 

 

amounts and against such risks as are
customarily maintained by and commercially available to companies engaged in
the same or similar businesses operating in the same or similar locations,
except in the case of each of clause (a) and (b) to the extent that
the failure to do so could not, based upon the facts and circumstances existing
at the time, reasonably be expected to have a Material Adverse Effect.

Section
5.04         Books and Records; Inspection Rights.  The Guarantor will keep, and will cause each
Consolidated Subsidiary to keep, proper books of record and account in which
true and correct entries shall be made of its business transactions and
activities so that financial statements of the Guarantor that fairly present
its business transactions and activities can be properly prepared in accordance
with GAAP.  The Guarantor will, and will
cause each Significant Subsidiary to, permit any representatives designated by
the Administrative Agent or by any Lender through the Administrative Agent,
upon reasonable prior notice, at all reasonable times and as and to the extent
permitted by applicable law and regulation, and at the Administrative Agent’s
or such Lender’s expense, to visit and inspect its properties, to examine and
make extracts from its books and records, and to discuss its affairs, finances,
accounts and condition with its officers, employees (in the presence of its
officers) and independent accountants (in the presence of its officers); provided
that (i) such designated representatives shall be reasonably acceptable to
the Borrower, shall agree to any reasonable confidentiality obligations proposed
by the Borrower, and shall follow the guidelines and procedures generally
imposed upon like visitors to Borrower’s facilities and (ii) unless a
Default shall have occurred and be continuing, such visits and inspections
shall occur not more than once in any Fiscal Year.

Section
5.05         Compliance with Laws. 
The Guarantor will, and will cause each Significant Subsidiary to,
comply with all laws, rules, regulations and orders of any Governmental
Authority applicable to it or its property, except where the failure to do so
could not, based upon the facts and circumstances existing at the time,
reasonably be expected to result in a Material Adverse Effect.

Section
5.06         Use of Proceeds.  The
proceeds of each Borrowing made under this Agreement will be used by the
Borrower for working capital, capital expenditures and other lawful corporate
purposes of the Borrower, including to repay other Debt of the Guarantor and
its Subsidiaries.  No part of the
proceeds of any Loan will be used, whether directly or indirectly, for any
purpose that entails a violation of any of the Regulations of the Board,
including Regulations T, U and X.

Section
5.07         Liens.  The Guarantor
will not, and will not permit any Subsidiary to, create, incur, assume or
permit to exist any Lien on any property or asset now owned or hereafter
acquired by it, except:

(a)           any
Lien existing on any asset on the Closing Date;

(b)           any
Lien on any asset securing the payment of all or part of the purchase price of
such asset upon the acquisition thereof by the Guarantor or a Subsidiary or
securing 

 36
 

 

Debt (including any obligation as lessee incurred under a capital
lease) incurred or assumed by the Guarantor or a Subsidiary prior to, at the
time of or within one year after such acquisition (or in the case of real
property, the completion of construction (including any improvements on an
existing property) or the commencement of full operation of such asset or
property, whichever is later), which Debt is incurred or assumed for the
purpose of financing all or part of the cost of acquiring such asset or, in the
case of real property, construction or improvements thereon; provided,
that in the case of any such acquisition, construction or improvement, the Lien
shall not apply to any asset theretofore owned by the Guarantor or a
Subsidiary, other than assets so acquired, constructed or improved;

(c)           any
Lien existing on any asset or Stock of any Person at the time such Person is
merged or consolidated with or into the Guarantor or a Subsidiary which Lien
was not created in contemplation of such event;

(d)           any
Lien existing on any asset at the time of acquisition thereof by the Guarantor
or a Subsidiary, which Lien was not created in contemplation of such
acquisition;

(e)           any
Lien arising out of the Refinancing of any Debt secured by any Lien permitted
by any of the subsections (a) through (d) of this Section 5.07, provided
that the principal amount of Debt is not increased (except as grossed-up for
the customary fees and expenses incurred in connection with such Refinancing
and except as a result of the capitalization or accretion of interest) and is
not secured by any additional assets, except as provided in the last sentence
of this Section 5.07;

(f)            any
Lien to secure Intercompany Debt;

(g)           sales
of accounts receivable or promissory notes to factors or other third-parties in
the ordinary course of business for purposes of collection;

(h)           any
Lien in favor of any country or any political subdivision of any country (or
any department, agency or instrumentality thereof) securing obligations arising
in connection with partial, progress, advance or other payments pursuant to any
contract, statute, rule or regulation or securing obligations incurred for the
purpose of financing all or any part of the purchase price (including the cost
of installation thereof or, in the case of real property, the cost of
construction or improvement or installation of personal property thereon) of
the asset subject to such Lien (including, but not limited to, any Lien
incurred in connection with pollution control, industrial revenue or similar
financings);

(i)            Liens
arising in the ordinary course of its business which (i) do not secure
Debt, and (ii) do not in the aggregate materially detract from the value
of its assets or materially impair the use thereof in the operation of its
business;

(j)            any
Lien securing only Nonrecourse Debt;

 37
 

 

(k)           Liens
incurred and pledges or deposits in the ordinary course of business in
connection with workers’ compensation, old age pensions, unemployment insurance
or other social security legislation, other than any Lien imposed by ERISA;

(l)            Liens
created pursuant to a Permitted Securitization Transactions;

(m)          Liens
for taxes, assessments and governmental charges or levies which are not yet due
or are payable without penalty or of which the amount, applicability or
validity is being contested by the Guarantor or a Subsidiary whose property is
subject thereto in good faith by appropriate proceedings as to which adequate
reserves are being maintained;

(n)           Liens
securing judgments that have not resulted in the occurrence of an Event of
Default under clause (k) of Article VI in an aggregate principal
amount at any time outstanding not to exceed $100,000,000; and

(o)           Liens
not otherwise permitted by the foregoing clauses (a) through (n) of
this Section 5.07 securing Debt or other obligations (without duplication)
in an aggregate principal amount at any time outstanding not to exceed an
amount equal to 7.5% of Consolidated Tangible Assets at such time.

It is understood that any Lien permitted to exist on
any asset pursuant to the foregoing provisions of this Section 5.07 may
attach to the proceeds of such asset and, with respect to Liens permitted
pursuant to subsections (a), (b), (d), (e) (but only with respect to the
Refinancing of Debt secured by a Lien permitted pursuant to
subsections (a), (b), (d)) or (f) of this Section 5.07, may
attach to an asset acquired in the ordinary course of business as a replacement
of such former asset.

Section
5.08         Fundamental Changes.

(a)           No
Obligor will consolidate, amalgamate or merge with or into any other Person or
sell, lease or otherwise transfer all or substantially all of the Consolidated
assets to any other Person, unless

(i)          such Obligor is the
surviving corporation, or the Person (if other than such Obligor) formed by
such consolidation or amalgamation or into which such Obligor is merged or
amalgamated, or the Person which acquires by sale or other transfer, or which
leases, all or substantially all of the assets of such Obligor (any such
Person, the “Successor”), shall be organized and existing under the laws
of (A) in the case of a Successor to the Borrower, Luxembourg or the
United States, any state thereof or the District of Columbia or (B) in the
case of a Successor to the Guarantor, Bermuda or of the United States, any
state thereof or the District of Columbia and shall expressly assume, in a
writing executed and delivered to the Administrative Agent for delivery to each
of the Lenders, in form reasonably satisfactory to the Administrative Agent,
the due and punctual payment of the principal of and interest on the Loans and
the performance of the other obligations under this Agreement and the other
Loan 

 38
 

 

Documents on
the part of such Obligor to be performed or observed, as fully as if such
Successor were originally named as such Obligor in this Agreement or such other
Loan Document; and

(ii)         immediately after
giving effect to such transaction, no Default shall have occurred and be
continuing; and

(iii)        such Obligor has
delivered to the Administrative Agent a certificate on behalf of such Obligor
signed by one of its Responsible Officers and an opinion of counsel, each
stating that all conditions provided in this Section 5.08 relating to such
transaction have been satisfied;

provided, however, that
nothing in this Section 5.08(a) 
shall prohibit the Separation Transactions.  Without limiting the generality of the
foregoing, neither Spin Distribution shall be deemed to be a transfer of all or
substantially all of the Consolidated assets of either Obligor.  Upon the satisfaction (or waiver) of the
conditions set forth in this Section 5.08(a), a Successor to the Borrower
or the Guarantor shall succeed, and may exercise every right and power of, the
Borrower or the Guarantor under this Agreement and the other Loan Documents
with the same effect as if such Successor had been originally named as the
Borrower or the Guarantor herein, and the Borrower or the Guarantor, as the
case may be, shall be relieved of and released from its obligations under this
Agreement and the other Loan Documents.

(b)           The
Initial Guarantor shall not consummate the Electronics Spin Distribution unless
upon such distribution the E Guarantor shall assume the obligations of the
Initial Guarantor under its Guarantee of the obligations of the Borrower under
this Agreement and the other Loan Documents, as fully if the E Guarantor were
the original Guarantor under this Agreement, pursuant to a Guarantor Assumption
Agreement and the E Guarantor shall deliver the Guarantor Assumption Opinions
to the Administrative Agent.  Upon such
distribution of shares and assumption of obligations, the E Guarantor shall
succeed, and may exercise every right and power of, the Initial Guarantor under
this Agreement with the same effect as if the E Guarantor had been the original
Guarantor herein, and the Initial Guarantor shall be relieved of and released
from its obligations under this Agreement, in each case as provided in such
Guarantor Assumption Agreement.

Section
5.09         Financial Covenant.

(a)           Leverage.  The Guarantor will not permit at any time the
ratio of (x) Consolidated Total Debt at such time to (y) Consolidated
EBITDA for the then most recently concluded period of four consecutive fiscal
quarters of the Guarantor to exceed 3.50 to 1.00.

Section
5.10         Limitation on Restrictions on
Subsidiary Dividends and Other Distributions.  The Guarantor will not, and will not permit
any Subsidiary to, directly or indirectly, create or otherwise cause or suffer
to exist or become effective any encumbrance or restriction on the ability of
any Subsidiary, other than the Borrower, to (a) pay dividends or make any
other distributions on its capital stock or any other interest or participation
in its profits, 

 39
 

 

owned by the Guarantor or any Subsidiary, or
pay any Debt owed by any Subsidiary to the Guarantor or any Subsidiary,
(b) make loans or advances to the Guarantor or any Subsidiary or
(c) transfer any of its properties or assets to the Guarantor or any
Subsidiary (or, solely in the case of clause (xii) hereof, any other
Consolidated Person in respect of such Nonrecourse Debt), except for such
encumbrances or restrictions existing under or by reason of:

(i)            applicable laws and regulations,
judgments and orders and other legal requirements, agreements with
non-U.S. governments with respect to assets or businesses located in their
jurisdiction, or condemnation or eminent domain proceedings,

(ii)           this Agreement or the Bridge Loan
Agreement (or, so long as the Guarantor or any Subsidiary is a party thereto,
the Other Credit Agreements and the Other Bridge Loan Agreements),

(iii)          (A) customary provisions restricting
subletting or assignment of any lease governing a leasehold interest of the
Guarantor or a Subsidiary, or (B) customary restrictions imposed on the
transfer of trademarked, copyrighted or patented materials or provisions in
agreements that restrict the assignment of such agreements or any rights
thereunder,

(iv)          provisions contained in the
instruments evidencing or governing Debt or other obligations or agreements, in
each case existing on the date hereof,

(vi)          provisions contained in instruments
evidencing or governing Debt or other obligations or agreements of any Person,
in each case, at the time such Person (A) shall be merged or consolidated
with or into the Guarantor or any Subsidiary, (B) shall sell, transfer,
assign, lease or otherwise dispose of all or substantially all of such Person’s
assets to the Guarantor or a Subsidiary, or (C) otherwise becomes a
Subsidiary, provided  that in the case of clause (A), (B) or (C), such
Debt, obligation or agreement was not incurred or entered into, or any such
provisions adopted, in contemplation of such transaction,

(vii)         provisions contained in Refinancings,
so long as such provisions are, in the good faith determination of the
Guarantor’s board of directors, not materially more restrictive than those
contained in the respective instruments so Refinanced,

(viii)        provisions contained in any instrument
evidencing or governing Debt or other obligations of a Subsidiary Guarantor,

(ix)           any encumbrances and restrictions
with respect to a Subsidiary imposed in connection with an agreement which has
been entered into for the sale or disposition of such Subsidiary or its assets,
provided  such sale or disposition otherwise complies with this
Agreement,

 40
 

 

(x)            the subordination (pursuant to its
terms) in right and priority of payment of any Debt owed by any Subsidiary (the
“Indebted Subsidiary”) to the Guarantor or any other Subsidiary, to any
other Debt of such Indebted Subsidiary, provided  that (A) such Debt is permitted
under this Agreement and (B) the Guarantor’s board of directors has
determined, in good faith, at the time of the creation of such encumbrance or
restriction, that such encumbrance or restriction could not, based upon the
facts and circumstances in existence at the time, reasonably be expected to
have a Material Adverse Effect,

(xi)           provisions governing Preferred Stock
issued by a Subsidiary,

(xii)          provisions contained in instruments or
agreements evidencing or governing (A) Nonrecourse Debt or (B) other
Debt of a Subsidiary incurred to finance the acquisition or construction of
fixed or capital assets to the extent, in the case of sub-clause (B), such
instrument or agreement prohibits transfers of the assets financed with such
Debt, and

(xiii)         provisions contained in debt
instruments, obligations or other agreements of any Subsidiary which are not
otherwise permitted pursuant to clauses (i) through (xii) of this
Section 5.10, provided  that the aggregate investment of the Guarantor in all such
Subsidiaries (determined in accordance with GAAP) shall at no time exceed the
greater of (a) $300,000,000 or (b) 3% of Consolidated Tangible Assets.

The provisions of this Section 5.10 shall not
prohibit (x) Liens not prohibited by Section 5.07 or
(y) restrictions on the sale or other disposition of any property securing
Debt of any Subsidiary, provided  such Debt is otherwise permitted by this Agreement.

Section
5.11         Transactions with Affiliates.  The Guarantor will not, and will not permit
any Subsidiary to, directly or indirectly, pay any funds to or for the account
of, make any investment (whether by acquisition of Stock or indebtedness, by
loan, advance, transfer of property, guarantee or other agreement to pay,
purchase or service, directly or indirectly, any Debt, or otherwise) in, lease,
sell, transfer or otherwise dispose of any assets, tangible or intangible, to,
or participate in, or effect any transaction in connection with any joint
enterprise or other joint arrangement with, any Affiliate (collectively, “Affiliate Transactions”);
provided,  however, that the foregoing provisions of this
Section 5.11 shall not prohibit the Guarantor or any of its Subsidiaries
from:

(i)          engaging in any
Affiliate Transaction between or among (x) the Guarantor and any
Subsidiary or Subsidiaries or (y) two or more Subsidiaries,

(ii)         engaging in any of
the Separation Transactions, including any transactions pursuant to the
Spin-Off Agreements,

(iii)        declaring or paying
any dividends and distributions on any shares of the Guarantor’s Stock,
including any dividend or distribution payable in shares of the Guarantor’s
Stock or Stock Equivalents,

 41
 

 

(iv)       making any payments on
account of the purchase, redemption, retirement or acquisition of (x) any
shares of the Guarantor’s Stock or (y) any option, warrant or other right
to acquire shares of the Guarantor’s Stock, including any payment payable in
shares of the Guarantor’s Stock or Stock Equivalents,

(v)        declaring or paying any
dividends or distributions on Stock of any Subsidiary held by the Guarantor or
another Subsidiary,

(vi)       making sales to or
purchases from any Affiliate and, in connection therewith, extending credit or
making payments, or from making payments for services rendered by any
Affiliate, if such sales or purchases are made or such services are rendered in
the ordinary course of business and on terms and conditions at least as
favorable to the Guarantor or such Subsidiary as the terms and conditions which
the Guarantor would reasonably expect to be obtained in a similar transaction
with a Person which is not an Affiliate at such time,

(vii)      making payments of
principal, interest and premium on any Debt of the Guarantor or such Subsidiary
held by an Affiliate if the terms of such Debt are at least as favorable to the
Guarantor or such Subsidiary as the terms which the Guarantor would reasonably
expect to have been obtained at the time of the creation of such Debt from a
lender which was not an Affiliate,

(viii)     participating in, or
effecting any transaction in connection with, any joint enterprise or other
joint arrangement with any Affiliate if the Guarantor or such Subsidiary
participates in the ordinary course of its business and on a basis no less
advantageous than the basis on which such Affiliate participates,

(ix)        paying or granting
reasonable compensation, indemnities, reimbursements and benefits to any
director, officer, employee or agent of the Guarantor or any Subsidiary, or

(x)         engaging in any
Affiliate Transaction not otherwise addressed in subsections (i) through
(ix) of this Section 5.11, the terms of which are not less favorable
to the Guarantor or such Subsidiary than those that the Guarantor or such
Subsidiary would reasonably expect to be obtained in a comparable transaction
at such time with a Person which is not an Affiliate.

Section
5.12         Subsidiary Guarantors.  The Borrower will cause each Subsidiary of
the Borrower that now or hereafter Guarantees any Material Debt of the Borrower
for or in respect of borrowed money (other than Debt of the Borrower to any
other Subsidiary) to promptly thereafter (and in any event within 30 days
of executing such Guarantee) cause such Subsidiary to (a) become a
Subsidiary Guarantor by executing and delivering to the Administrative Agent a
Subsidiary Guaranty, and (b) deliver to the Administrative Agent documents
of the types referred to in Section 4.01(d) and favorable opinions of
counsel to such Subsidiary (which shall cover, among other things, the
legality, validity, binding effect and 

 42
 

 

enforceability of the Subsidiary Guaranty of
such Subsidiary), all in form, content and scope reasonably satisfactory to the
Administrative Agent.

Section
5.13         Subsidiary Debt.  The Guarantor will not at any time permit the
aggregate outstanding principal amount of Debt of the Consolidated Subsidiaries
to exceed an amount equal to $750,000,000, provided that for purposes of
this Section 5.13, “Debt” shall not include (i) Permitted Acquired
Debt of any Consolidated Subsidiary, (ii) Debt of any Consolidated
Subsidiary (other than the Borrower) outstanding as of the Closing Date, and
any Refinancings thereof, (iii) Debt of the Borrower or
(iv) obligations under any Permitted Securitization Transaction, to the
extent otherwise constituting Debt.

ARTICLE
VI

Events of
Default

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

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

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

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

(d)           either
Obligor shall fail to observe or perform any covenant, condition or agreement
contained in (i) Section 5.06, 5.07, 5.08, 5.10, 5.11, 5.12 or 5.13
and such failure shall not be remedied within five Business Days after any
Responsible Officer obtains knowledge thereof or (ii) Section 5.09;

(e)           either
Obligor shall fail to observe or perform any covenant, condition or agreement
contained in this Agreement or the other Loan Documents (other than those
specified in clause (a), (b) or (d) of this Article), and such
failure shall continue unremedied for a period of 30 days after notice
thereof from the Administrative Agent to the Guarantor (which notice will be
given at the request of any Lender);

 

 43

 

(f)            the
Guarantor or any Subsidiary shall fail to make any payment in respect of any
Material Debt, when and as the same shall become due and payable, and such
failure shall continue beyond any applicable grace period (but in any event, in
the case of interest, fees or other amounts other than principal, for a period
of at least five Business Days); provided that this clause (f)
shall not apply to any Existing Indenture Covered Default;

(g)           any
event or condition occurs that results in any Material Debt becoming due prior
to its scheduled maturity; provided that this clause (g) shall not
apply to (i) any Existing Indenture Debt that becomes due as a result of
an Existing Indenture Covered Default or as a result of any offer to repurchase
or redemption of any Existing Indenture Debt, (ii) secured Debt that
becomes due as a result of the voluntary sale or transfer of the property or
assets securing such Debt, (iii) any conversion, repurchase or redemption
of any Material Debt scheduled by the terms thereof to occur on a particular
date, any conversion of any Material Debt initiated by a holder thereof
pursuant to the terms thereof or any optional prepayment, repurchase or
redemption of any Material Debt, in each case not subject to any contingent
event or condition related to the creditworthiness, financial performance or
financial condition of the Guarantor or any Subsidiary or (iv) any
repurchase or redemption of any Material Debt pursuant to any put option
exercised by the holder of such Material Debt; provided that such put
option is exercisable at times specified in the terms of the Material Debt and
not by its terms solely as a result of any contingent event or condition
related to the creditworthiness, financial performance or financial condition
of the Guarantor or the applicable Subsidiaries;

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

(i)            the
Guarantor or any Significant Subsidiary shall (i) voluntarily commence any
proceeding or file any petition seeking liquidation, winding up, reorganization
or other relief under any bankruptcy, insolvency, receivership or similar law
of any jurisdiction now or hereafter in effect, (ii) consent to the
institution of, or fail to contest in a timely and appropriate manner, any
proceeding or petition described in clause (h) of this Article,
(iii) apply for or consent to the appointment of a receiver, trustee,
custodian, sequestrator, conservator or similar official for the Guarantor or
any Significant Subsidiary or for a substantial part of its respective assets,
(iv) file an answer admitting the material allegations of a petition filed
against it in any such proceeding, (v) make a general assignment for the
benefit of creditors or (vi) take any action for the purpose of effecting
any of the foregoing;

(j)            the
Guarantor or any Significant Subsidiary shall admit in writing its inability or
fail generally to pay its debts as they become due;

 44
 

 

(k)           one
or more judgments or orders for the payment of money in an aggregate amount in
excess of $30,000,000 (after deducting amounts covered by insurance, except to
the extent that the insurer providing such insurance has declined such coverage
or indemnification) shall be rendered against the Guarantor or any Subsidiary
or any combination thereof and, within 60 days after entry thereof, such
judgment or order is not discharged or execution thereof stayed pending appeal,
or within 60 days after the expiration of any such stay, such judgment or
order is not discharged;

(l)            an
ERISA Event shall have occurred that, when taken together with all other ERISA
Events that have occurred, could reasonably be expected to result in a Material
Adverse Effect;

(m)          (x)
any person or group of persons (within the meaning of Section 13 or 14 of
the Securities Exchange Act of 1934, as amended) shall have acquired beneficial
ownership (within the meaning of Rule 13d-3 promulgated by the SEC under
said Act) of 40% or more of the outstanding shares of common stock of the
Guarantor; or (y) on the last day of any period of twelve consecutive
calendar months, a majority of members of the board of directors of the Guarantor
shall no longer be composed of individuals (i) who were members of said
board of directors on the first day of such twelve consecutive calendar month
period or (ii) whose election or nomination to said board of directors was
approved by individuals referred to in clause (i) above constituting
at the time of such election or nomination at least a majority of said board of
directors;

(n)           any
Loan Document shall cease to be valid and enforceable against any Obligor or
Subsidiary Guarantor party thereto (except for the termination of a Subsidiary
Guaranty in accordance with its terms), or any Obligor or Subsidiary Guarantor
shall so assert in writing; or

(o)           the
Borrower (or any permitted successor pursuant to Section 5.08(a)) shall cease
to be a Wholly-Owned Consolidated Subsidiary of the Guarantor;

then, and in every such event (other than an event
described in clause (h) or (i) of this Article with respect to the
Borrower or the Guarantor), and at any time thereafter during the continuance
of such event, the Administrative Agent shall, at the request of, or may, with
the consent of, the Required Lenders, by notice to the Borrower, take either or
both of the following actions, at the same or different times:  (i) terminate the Commitments, and
thereupon the Commitments shall terminate immediately, and (ii) 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, and thereupon the
principal amount of all such outstanding Loans together with all such interest
and other amounts so declared to be due and payable, shall become due and
payable immediately, without presentment, demand, protest or other notice of
any kind, all of which are hereby expressly waived by the Obligors; and in case
of any event described in clause (h) or (i) of this Article with
respect to the Borrower or the Guarantor, the Commitments shall automatically
terminate and the 

 45
 

 

principal of the Loans then outstanding, together with
accrued interest thereon and all fees and other obligations of the Borrower
accrued under any Loan Document, shall automatically become due and payable,
without presentment, demand, protest or other notice of any kind, all of which
are hereby expressly waived by the Obligors.

ARTICLE
VII

The
Administrative Agent

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

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 Guarantor 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.

The Administrative Agent shall not have any duties or
obligations except those expressly set forth herein.  Without limiting the generality of the
foregoing, (a) the Administrative Agent shall not be subject to any
fiduciary or other implied duties, regardless of whether a Default has occurred
and is continuing, (b) the Administrative Agent shall not have any duty to
take any discretionary action or exercise any discretionary powers, except
discretionary rights and powers expressly contemplated hereby 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 in Section 10.02), 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 this Agreement, the other Loan Documents or applicable
law, and (c) except as expressly set forth herein, the Administrative
Agent shall not have any duty to disclose, and shall not be liable for the
failure to disclose, any information relating to the Guarantor or any of its
Subsidiaries or any of their respective 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 Section 10.02) 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 

 46
 

 

Default is given to the Administrative Agent by the
Borrower or a Lender and the Administrative Agent shall not be responsible for
or have any duty to ascertain or inquire into (i) any statement, warranty
or representation made in or in connection with this Agreement or the other
Loan Documents, (ii) the contents of any certificate, report or other
document delivered hereunder or in connection herewith, (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 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.

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 that by its terms must be
fulfilled to the satisfaction of a Lender, the Administrative Agent may presume
that such condition is satisfactory to such Lender unless the Administrative
Agent shall have received notice to the contrary from such Lender prior to the
making of such Loan.  The Administrative
Agent may consult with legal counsel (who may be counsel for the Borrower),
independent accountants and other experts selected by it, and shall not be
liable for any action taken or not taken by it in accordance with the advice of
any such counsel, accountants or experts.

The Administrative Agent may perform any and all of
its duties and exercise its rights and powers hereunder 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.

The Administrative Agent may at any time give notice
of its resignation to the Lenders and the Borrower.  Upon receipt of any such notice of
resignation, the Required Lenders shall have the right, in consultation with
the Borrower, to appoint a successor, which shall be a commercial bank with an
office in New York, New York, or an Affiliate of any such commercial bank with
an office in New York, New York.  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, then the retiring
Administrative Agent may on behalf of the Lenders, appoint a successor
Administrative Agent meeting the qualifications set forth above, provided
that if the Administrative Agent shall notify the 

 47
 

 

Borrower and the Lenders that no qualifying Person has
accepted such appointment, then such resignation shall nonetheless become
effective in accordance with such notice and (1) the retiring
Administrative Agent shall be discharged from its duties and obligations
hereunder and under the other Loan Documents 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 directly, until such time as
the Required Lenders appoint a successor Administrative Agent as provided for
above in this paragraph.  The successor
shall be consented to by the Borrower at all times other than during the
existence of an Event of Default (which consent of the Borrower shall not be
unreasonably withheld or delayed).  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) Administrative
Agent, and the retiring Administrative Agent shall be discharged from all of
its duties and obligations hereunder (if not already discharged therefrom as
provided above in this paragraph).  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 hereunder and under the other Loan
Documents, the provisions of this Article and Section 10.03 shall continue
in effect for the benefit of such retiring Administrative Agent, its sub-agents
and their respective Related Parties in respect of any actions taken or omitted
to be taken by any of them while the retiring Administrative Agent was acting
as Administrative Agent.

Each Lender 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 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 or any related agreement or any document
furnished hereunder or thereunder.

The Lenders hereby irrevocably authorize the
Administrative Agent, at its option and in its discretion, to release any
Subsidiary Guarantor from its obligations under such Subsidiary Guarantor’s
Subsidiary Guaranty (i) if such Person ceases to exist or to be a
Subsidiary (or substantially contemporaneously with such release will cease to
exist or to be a Subsidiary), in each case as a result of a transaction
permitted hereunder, or (ii) otherwise in accordance with
Section 4.06(b) of the relevant Subsidiary Guaranty.

Anything herein to the contrary notwithstanding, none
of the Global Coordinators, Joint Bookrunners or Joint Lead Arrangers listed on
the cover page hereof shall have any powers, duties or responsibilities under
this Agreement, except in its capacity, as applicable, as the Administrative
Agent or a Lender hereunder.

 48
 

 

ARTICLE
VIII

Guarantee

Section
8.01         The Guarantee.  The
Guarantor hereby unconditionally and irrevocably guarantees the full and
punctual payment when due (whether at stated maturity, by mandatory prepayment,
by acceleration or otherwise) of the principal of and interest on the Loans,
the Notes and all other amounts whatsoever at any time or from time to time
payable or becoming payable under this Agreement or the other Loan
Documents.  This is a continuing
guarantee and a guarantee of payment and not merely of collection.  Upon failure by the Borrower to pay
punctually any such amount when due as aforesaid, the Guarantor shall forthwith
on demand pay the amount not so paid at the place and in the manner specified
in this Agreement.

Section
8.02         Guarantee Unconditional. 
The obligations of the Guarantor hereunder shall be unconditional and
absolute, and, without limiting the generality of the foregoing, shall not be
released, discharged or otherwise affected, at any time by:

(a)           any
extension, renewal, settlement, compromise, waiver or release in respect of any
obligation of the Borrower under any Loan Document, by operation of law or
otherwise;

(b)           any
modification or amendment of or supplement to any Loan Document;

(c)           any
release, impairment, non-perfection or invalidity of any direct or indirect
security for any obligation of the Borrower under any Loan Document;

(d)           any
change in the corporate existence, structure or ownership of the Borrower, or
any insolvency, bankruptcy, reorganization or other similar proceeding
affecting the Borrower or its assets or any resulting release or discharge of
any obligation of the Guarantor or the Borrower contained in any Loan Document;

(e)           the
existence of any claim, set-off or other rights which the Guarantor may have at
any time against the Borrower, the Administrative Agent, any Lender or any
other Person, whether in connection herewith or any unrelated transactions, provided
that nothing herein shall prevent the assertion of any such claim by separate
suit or compulsory counterclaim;

(f)            any
invalidity or unenforceability relating to or against the Borrower for any
reason of any Loan Document, or any provision of applicable law or regulation
purporting to prohibit the payment by the Borrower, in the currency and funds
and at the time and place specified herein, of any amount payable by it under
any Loan Document; or

(g)           any
other act or omission to act or delay of any kind by the Borrower, the
Administrative Agent, any Lender or any other Person, or any other circumstance
whatsoever 

 49
 

 

which might, but for the provisions of this paragraph, constitute a
legal or equitable discharge or defense of a guarantor or surety.

Section
8.03         Discharge Only upon Payment in Full; Reimbursement in Certain
Circumstances.  The guarantee
and other agreements in this Article VIII shall remain in full force and
effect until the Commitments shall have terminated and the principal of and
interest on the Loans, the Notes and all other amounts whatsoever payable by
the Borrower under any Loan Document shall have been finally paid in full.  If at any time any payment of any such amount
payable by the Borrower under any Loan Document is rescinded or must be
otherwise restored or returned upon the insolvency, bankruptcy or
reorganization of the Borrower or otherwise, the Guarantor’s obligations
hereunder with respect to such payment shall be reinstated at such time as
though such payment had been due but not made at such time.

Section
8.04         Waiver by the Guarantor. 
The Guarantor irrevocably waives acceptance hereof, presentment, demand,
protest and any notice not provided for herein, as well as any requirement that
at any time any action be taken by any Person against the Borrower or any other
Person.

Section
8.05         Subrogation.  Upon
making any payment hereunder with respect to the Borrower, the Guarantor shall
be subrogated to the rights of the payee against the Borrower with respect to
such payment; provided that the Guarantor shall not enforce any payment
by way of subrogation until all amounts of principal of and interest on the
Loans and all other amounts payable by the Borrower under any Loan Document has
been paid in full and the Commitments have been terminated.

Section
8.06         Stay of Acceleration. 
In the event that acceleration of the time for payment of any amount
payable by the Borrower under any Loan Document is stayed upon insolvency,
bankruptcy or reorganization of the Borrower, all such amounts otherwise
subject to acceleration under the terms of this Agreement shall nonetheless be
payable by the Guarantor hereunder forthwith on demand by the Required Lenders.

ARTICLE
IX

Yield
Protection, Illegality and Taxes

Section
9.01         Alternate Rate of Interest. 
If prior to the commencement of any Interest Period for a Eurodollar
Borrowing:

(a)           the
Administrative Agent determines (which determination shall be conclusive absent
manifest error) that adequate and reasonable means do not exist for
ascertaining the LIBO Rate for such Interest Period; or

(b)           the
Administrative Agent is advised by the Required Lenders that the LIBO Rate for
such Interest Period (together with any amounts payable pursuant to
Section 9.03

 50
 

 

or 9.05) will not adequately and fairly reflect the cost to such
Lenders of making or maintaining their Loans included in such Borrowing for
such Interest Period;

then the Administrative Agent shall give notice
thereof to the Borrower and the Lenders by telephone or facsimile or electronic
mail as promptly as practicable thereafter and, until the Administrative Agent
notifies the Borrower and the Lenders that the circumstances giving rise to
such notice no longer exist, (i) any Interest Election Request that
requests the conversion of any Borrowing to, or continuation of any Borrowing
as, a Eurodollar Borrowing shall be ineffective and (ii) if any Borrowing
Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR
Borrowing.  In the case of
clause (b) above, during any such period of suspension each Lender shall,
from time to time upon request from the Borrower, certify its cost of funds for
each Interest Period to the Borrower and the Administrative Agent as soon as
practicable (but in any event not later than 10 Business Days after any such
request).

Section
9.02         Illegality. 
Notwithstanding any other provision of any Loan Document, if any Lender
shall notify the Administrative Agent (and provide to the Borrower an opinion
of counsel to the effect) that the introduction of or any change in or in the
interpretation of any law or regulation makes it unlawful, or any central bank
or other governmental authority asserts that it is unlawful, for such Lender or
its lending office for Eurodollar Borrowings to perform its obligations
hereunder to make Eurodollar Loans or to fund or maintain Eurodollar Loans
hereunder, (i) each Eurodollar Loan of such Lender will automatically,
upon such demand, convert into an ABR Loan that bears interest at the rate set
forth in Section 2.12(a) and (ii) the obligation of such Lender to
make or continue, or to convert ABR Loans into, Eurodollar Loans shall be
suspended until the Administrative Agent shall notify the Borrower and such
Lender that the circumstances causing such suspension no longer exist and such
Lender shall make the ABR Loans in the amount and on the dates that it would
have been requested to make Eurodollar Loans had no such suspension been in
effect.

Section
9.03         Increased Costs.

(a)           If
any Change in Law shall:

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

(ii)         impose on any Lender
or the London interbank market any other condition affecting any Loan Document
or Eurodollar Loans made by such Lender;

and the result of any of the foregoing has been to
increase the cost to such Lender of making or maintaining any Eurodollar Loan
(or of maintaining its obligation to make any such Loan) or to reduce the
amount of any sum received or receivable by such Lender hereunder (whether of
principal, interest or otherwise) (excluding any such increased costs or
reduction in amount resulting from Taxes or Other Taxes, as to which
Section 9.05 shall govern, or resulting from reserve commitments
contemplated by Section 9.03(c)), then from time to time within 30 days
of 

 51
 

 

written demand therefor (subject to Section 9.06)
the Borrower will pay to such Lender such additional amount or amounts as will
compensate such Lender for such additional costs incurred or reduction
suffered.

(b)           If
any Lender determines that any Change in Law regarding capital requirements has
the effect of reducing the rate of return on such Lender’s capital or on the
capital of such Lender’s holding company, if any, as a consequence of any Loan
Document or the Loans made by such Lender, to a level below that which such
Lender or such Lender’s holding company could have achieved but for such Change
in Law (taking into consideration such Lender’s policies and the policies of
such Lender’s holding company with respect to capital adequacy), then from time
to time within 30 days of written demand therefor (subject to
Section 9.06) the Borrower will pay to such Lender such additional amount
or amounts as will compensate such Lender or such Lender’s holding company for
any such reduction suffered.

(c)           At
any time that any Lender is required to establish or maintain reserves in
respect of its Eurodollar Loans under FRB Regulation D, such Lender may
require the Borrower to pay, contemporaneously with each payment of interest on
a Eurodollar Loan made by such Lender, additional interest on such Eurodollar
Loan at a rate per annum determined by such Lender be sufficient to compensate
it for the cost to it of maintaining, or the reduction in its total return in
respect of, such Eurodollar Loan, up to but not exceeding the excess of (i)
(A) the applicable LIBO Rate divided by (B) one minus the Eurodollar
Reserve Percentage, minus (ii) the applicable LIBO Rate.  Any Lender wishing to require payment of such
additional interest (x) shall so notify the Borrower and the
Administrative Agent, in which case such additional interest on the Eurodollar
Loans of such Lender shall be payable to such Lender at the time and place
indicated at which interest otherwise is payable on such Eurodollar Loan, with
respect to each Interest Period commencing at least three Business Days after
the giving of such notice and (y) shall notify the Borrower at least five
Business Days prior to each date on which interest is payable on the Eurodollar
Loans of the amount then due it under this Section.

(d)           Failure
or delay on the part of any Lender to demand compensation pursuant to this
Section shall not constitute a waiver of such Lender’s right to demand
such compensation; provided that the Borrower shall not be required to
compensate a Lender pursuant to this Section for any increased costs or
reductions incurred more than 90 days prior to the date that such Lender
notifies the Borrower of the Change in Law giving rise to such increased costs
or reductions and of such Lender’s intention to claim compensation therefor.

Section
9.04         Break Funding Payments. 
In the event of (a) the payment of any principal of any Eurodollar
Loan other than on the last day of an Interest Period applicable thereto
(including as a result of an Event of Default), (b) the conversion of any
Eurodollar Loan other than on the last day of the Interest Period applicable
thereto, (c) the failure to borrow, convert, continue or prepay any
Eurodollar Loan on the date specified in any oral or written notice given
pursuant hereto or (d) the assignment of any Eurodollar Loan other than on
the last day of the Interest Period applicable thereto as a result of a request
by the Borrower pursuant to Section 10.04(e), then, in any such event, the
Borrower shall compensate each Lender for the 

 52
 

 

loss, cost and expense attributable to such
event (including any loss or expense arising from the redeployment of funds
obtained by it to maintain such Eurodollar Loan or from fees payable to
terminate the deposits from which such funds were obtained, but excluding any
loss of anticipated profits) within 10 days of written demand therefor
(subject to Section 9.06).

Section
9.05         Taxes.

(a)           Any
and all payments by or on account of any obligation of the Borrower under any
Loan Document shall be made free and clear of and without deduction for any
Indemnified Taxes or Other Taxes; provided that if the Borrower shall be
required to deduct any Indemnified Taxes or Other Taxes from such payments,
then (i) the sum payable shall be increased as necessary so that after
making all required deductions (including deductions applicable to additional
sums payable under this Section) the Administrative Agent or applicable Lender
(as the case may be) receives an amount equal to the sum it would have received
had no such deductions been made, (ii) the Borrower shall make such
deductions and (iii) the Borrower shall pay the full amount deducted to
the relevant Governmental Authority in accordance with applicable law.

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

(c)           The
Borrower shall pay and indemnify, defend and hold harmless the Administrative
Agent and each Lender within 30 days after written demand therefor
(subject to Section 9.06), for the full amount of any Indemnified Taxes or
Other Taxes required to be paid by the Administrative Agent or such Lender, as
the case may be, on or with respect to any payment by or on account of any
obligation of the Borrower under any Loan Document (including Indemnified Taxes
or Other Taxes imposed or asserted on or attributable to amounts payable under
this Section) 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.  As soon as
practicable after any payment of Indemnified Taxes or Other Taxes to a
Governmental Authority by the Administrative Agent or such Lender, the
Administrative Agent or such Lender, as the case may be, shall deliver to the
Borrower the original or a certified copy of a receipt issued by such
Governmental Authority evidencing such payment or other evidence of such
payment reasonably satisfactory to the Borrower.

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

(e)           Any
Foreign Lender that is entitled to an exemption from or reduction of United
States withholding tax with respect to payments under this Agreement shall
deliver to the 

 53
 

 

Borrower (with a copy to the Administrative Agent), at the time or
times prescribed by applicable law, such properly completed and executed
documentation prescribed by applicable law or reasonably requested by the
Borrower as will permit such payments to be made without withholding or at a
reduced rate.

(f)            If
the Administrative Agent or a Lender determines, in its good faith judgment,
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
additional amounts pursuant to this Section 9.05, it shall pay over such
refund to the Borrower (but only to the extent of indemnity payments made, or
additional amounts paid, by the Borrower under this Section 9.05 with
respect to the Taxes or Other Taxes giving rise to such refund), net of all
out-of-pocket expenses of the Administrative Agent or such Lender and without
interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund); provided that the Borrower, upon the
request of the Administrative Agent or such Lender, agrees to repay the amount
paid over to the Borrower (plus any penalties, interest or other charges imposed
by the relevant Governmental Authority) to the Administrative Agent or such
Lender in the event the Administrative Agent or such Lender is required to
repay such refund to such Governmental Authority.  This Section shall not be construed to
require the Administrative Agent or any Lender to make available its tax
returns (or any other information relating to its taxes which it deems
confidential) to the Borrower or any other Person.

Section
9.06         Matters Applicable to all Requests for Compensation.  If any Lender or the Administrative Agent is
claiming compensation under Section 9.03, 9.04 or 9.05, it shall deliver
to the Administrative Agent, who shall deliver to the Borrower
contemporaneously with the demand for payment, a certificate setting forth in
reasonable detail the calculation of any additional amount or amounts to be
paid to it hereunder and the basis used to determine such amounts and such
certificate shall be conclusive in the absence of manifest error.  In determining such amount, such Lender or
the Administrative Agent may use any reasonable averaging and attribution
methods.  In any such certificate
claiming compensation under Section 9.03(b), such Lender shall certify
that the claim for additional amounts referred to therein is generally consistent
with such Lender’s treatment of similarly situated customers of such Lender
whose transactions with such Lender are similarly affected by the change in
circumstances giving rise to such payment, but such Lender shall not be
required to disclose any confidential or proprietary information therein.  This Section shall not be construed to
require the Administrative Agent or any Lender to make available its tax
returns (or any other information relating to its taxes which it deems
confidential) to the Borrower or any other Person.

Section
9.07         Mitigation Obligations.  If
any Lender requests compensation under Section 9.03, or if 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 9.05, then
such Lender shall use reasonable efforts to designate a different lending
office for funding or booking its Loans hereunder or to assign its rights and
obligations hereunder to another of its offices, branches or affiliates, if, in
the judgment of such Lender, such designation or assignment (i) would
eliminate or reduce amounts payable pursuant to Section 9.03 or 9.05, as
the case may 

 54
 

 

be, in the future and (ii) would not
subject such Lender to any unreimbursed cost or expense and would not otherwise
be disadvantageous to such Lender.  The
Borrower hereby agrees to pay all reasonable costs and expenses incurred by any
Lender in connection with any such designation or assignment.

ARTICLE X

Miscellaneous

Section
10.01       Notices.

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

(i)          if to the Borrower

Tyco Electronics Group S.A.

17, bd Grande-Duchesse Charlotte

L-1331 Luxembourg

Attn:  Kevin O’Kelly-Lynch

Tel: +352 46-43-40-351

Fax: +352 46-43-51

email: kokellylynch@tyco.com

with a copy to:

Tyco International Management Company

9 Roszel Rd.

Princeton, NJ  08540

Attention:  General Counsel

Tel:  609-720-4200

Fax:  609-720-4326

(ii)         if to the Guarantor

Tyco International Ltd.

90 Pitts Bay Road, Second Floor

Pembroke HM 08, Bermuda

Attention: Executive Vice President and General
Counsel

Tel:  441-292-8674

Fax: 441-295-9647

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(iii)        if to the
Administrative Agent, to its applicable address set forth on
Schedule 10.01;

and

(iv)       if to any other Lender,
to it at its address (or facsimile number or electronic mail address telephone
number) set forth on Schedule 10.01 or in the Assignment and Assumption
pursuant to which such Lender becomes a party to this Agreement or to such
other address, facsimile number, electronic mail address or telephone number as
shall be designated by such party in a notice to the Borrower and the
Administrative Agent.

(b)           Notices
and other communications to the Administrative Agent and the Lenders hereunder
may be delivered or furnished by electronic communications.  In addition to provisions of this Agreement
expressly specifying that notices and other commitments may be delivered
telephonically or electronically, each of the Administrative Agent or the
Borrower may, in its discretion, agree to accept notices and other
communications to it hereunder by electronic communications; provided
that approval of such procedures may be limited to particular notices or
communications.

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

(d)           The
Administrative Agent and the Lenders shall be entitled to rely and act upon any
notices (including telephonic Borrowing Requests and Interest Election
Requests) purportedly given by or on behalf of the Borrower.

Section
10.02       Waivers; Amendments.

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

 

 56

 

(b)           Neither
this Agreement nor the Notes, the Guarantor Assumption Agreement or any
Subsidiary Guaranty or any provision hereof or thereof may be waived, amended
or modified except pursuant to an agreement or agreements in writing entered
into by the Obligors, the Subsidiary Guarantors (to the extent applicable) and
the Required Lenders or by the Obligors, the Subsidiary Guarantors (to the
extent applicable) and the Administrative Agent with the consent of the
Required Lenders; provided that no such agreement shall
(i) increase the Commitment of any Lender without the written consent of
such Lender, (ii) reduce the principal amount of any Loan or reduce the
rate of interest thereon, or reduce any fees payable hereunder, without the
written consent of each Lender directly affected thereby, (iii) postpone
the scheduled date of payment of the principal amount of any Loan or any
interest thereon, or any fees payable hereunder, or reduce the amount of, waive
or excuse any such payment, or postpone the scheduled date of expiration of any
Commitment, without the written consent of each Lender directly affected
thereby, (iv) change Section 2.13(b) or (c) in a manner that
would alter the pro rata sharing of payments required thereby, without the
written consent of each Lender, (v) release the Guarantor from its
obligations under Article VIII or any Subsidiary Guarantor which is a
Significant Subsidiary from its obligations under its Subsidiary Guaranty,
without the written consent of each Lender, (vi) change any of the
provisions of this Section or the definition of “Required Lenders”
or any other provision hereof specifying the number or percentage of Lenders
required to waive, amend or modify any rights hereunder or make any
determination or grant any consent hereunder, without the written consent of
each Lender; provided  further that no such agreement shall amend,
modify or otherwise affect the rights or duties of the Administrative Agent
under any Loan Document without the prior written consent of the Administrative
Agent.

Section
10.03       Expenses; Indemnity; Damage
Waiver.

(a)           The
Borrower shall pay (i) all reasonable out of pocket expenses incurred by
the Administrative Agent, the Global Coordinators and their Affiliates,
including the reasonable fees, charges and disbursements of counsel for the
Administrative Agent, in connection with the syndication of the credit
facilities provided for herein, the preparation, negotiation, execution,
delivery and administration of this Agreement and the other Loan Documents or
any amendments, modifications or waivers of the provisions hereof and thereof
(whether or not the transactions contemplated hereby or thereby shall be
consummated), and (ii) while a Default has occurred and is continuing, all
out-of-pocket expenses incurred by the Administrative Agent and the Lenders,
including reasonable fees, charges and disbursements of counsel in connection
with the enforcement or protection of its rights (A) in connection with
this Agreement and the other Loan Documents, including its rights under this
Section, or (B) in connection with the Loans made hereunder, including all
such out-of-pocket expenses incurred during any workout, or
restructuring negotiations in respect of such Loans.

(b)           The
Borrower shall indemnify the Administrative Agent and each Lender, and each
Related Party of any of the foregoing Persons (each such Person being called an
“Indemnitee”) against, and hold each Indemnitee harmless from, any and
all losses, claims, damages, liabilities and related expenses, including the
reasonable fees, charges and 

 57
 

 

disbursements of any counsel for any Indemnitee, incurred by or
asserted against any Indemnitee arising out of, in connection with, or as a
result of any actual or prospective claim, litigation, investigation or
proceeding (whether based on contract, tort or any other theory and regardless
of whether any Indemnitee is a party thereto) relating to (A) the
execution or delivery of this Agreement or any other Loan Document or any
agreement or instrument contemplated hereby or thereby, the performance by the
parties hereto of their respective obligations hereunder or the consummation of
the Transactions or any other transactions contemplated hereby, (B) any
Loan or the use of the proceeds therefrom, (C) any actual or alleged presence
or release of Hazardous Materials on or from any property owned or operated by
the Guarantor or any of its Subsidiaries, or any Environmental Liability
related in any way to the Guarantor or any of its Subsidiaries; provided
that such indemnity shall not, as to any Indemnitee, be available to the extent
that such losses, claims, damages, liabilities or related expenses
(x) have resulted from the gross negligence or willful misconduct of such
Indemnitee, as determined by a court of competent jurisdiction by final and
nonappealable judgment (y) resulted from a breach of the confidentiality
provisions contained in Section 10.14 by such Indemnitee or
(z) resulted from a dispute solely among the Lenders that does not arise
from any Obligor’s or Subsidiary Guarantor’s breach of its obligations under
any Loan Document or applicable law.  If
any claim, litigation, investigation or proceeding is asserted against any
Indemnitee, such Indemnitee shall, to the extent permitted by applicable law or
regulation in the opinion of its counsel, notify the Borrower as soon as
reasonably practicable, but the failure to so promptly notify the Borrower
shall not affect the Borrower’s obligations under this Section unless such
failure materially prejudices the Borrower’s right to participate in the
contest of such claim, litigation, investigation or proceeding, as hereinafter
provided.  If requested by the Borrower
in writing, such Indemnitee shall make reasonable good faith efforts to contest
the validity, applicability and amount of such claim, litigation, investigation
or proceeding and, except to the extent prohibited by applicable law or
regulations or as would otherwise be unreasonable in the circumstances or
contrary to the internal policies of the Indemnitee as generally applied, shall
permit the Borrower to participate in such contest.  Any Indemnitee that proposes to settle or
compromise any claim, litigation, investigation or proceeding for which the
Borrower may be liable for payment of indemnity hereunder shall give the
Borrower written notice of the terms of such proposed settlement or compromise
reasonably in advance of settling or compromising such claim or proceeding and
shall obtain the Borrower’s prior written consent (not to be unreasonably
withheld).

(c)           To
the extent that the Borrower fails to pay any amount required to be paid by it
to the Administrative Agent or any Related Party thereof under
paragraph (a) or (b) of this Section, each Lender severally agrees to
pay to the Administrative Agent 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 in its capacity as such, or against any Related Party
acting for the Administrative Agent in connection with such capacity.

 58
 

 

(d)           To
the fullest extent permitted by applicable law, the Borrower shall not assert,
and hereby waives, any claim against any 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 or any other Loan Document or any agreement or instrument
contemplated hereby or thereby, the Transactions, any Loan or the use of the
proceeds thereof.  No Indemnitee referred
to in paragraph (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
Transactions.

(e)           All
amounts due under this Section shall be payable not later than 10 Business
Days after written demand therefor.

Section
10.04       Successors and Assigns.

(a)           The
provisions of this Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns permitted
hereby, except that (i) other than as contemplated by Section 5.08,
neither the Guarantor nor the Borrower may assign or otherwise transfer any of
its rights or obligations hereunder without the prior written consent of the
Administrative Agent and each Lender (and any attempted assignment or transfer
by the Guarantor or the Borrower without such consent shall be null and void)
and (ii) no Lender may assign or otherwise transfer its rights or
obligations hereunder except in accordance with this Section.  Nothing in this Agreement, expressed or
implied, shall be construed to confer upon any Person (other than the parties
hereto, their respective successors and assigns permitted hereby, Participants
(to the extent provided in paragraph (c) of this Section) and, to the
extent expressly contemplated hereby, the Related Parties of each of the
Administrative Agent, and the Lenders) any legal or equitable right, remedy or
claim under or by reason of this Agreement.

(b)           (i)            Subject to the conditions set forth
in paragraph (b)(ii) below, any Lender may assign to one or more
assignees (other than a natural Person) all or a portion of its rights and
obligations under this Agreement (including all or a portion of its Commitment
and the Loans at the time owing to it) with the prior written consent (such
consent not to be unreasonably withheld) of:

(A)          the
Borrower, provided that no consent of the Borrower shall be required for
an assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an
Event of Default under clause (a), (b), (h), (i) or (j) of
Article VI has occurred and is continuing, any other Person (other than a
natural person); and

(B)           the
Administrative Agent, provided that no consent of the Administrative
Agent shall be required for an assignment to a Lender, an Affiliate of a Lender
or for an assignment by a Lender to an Approved Fund with respect to such
Lender.

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

(A)          except in the case of
an assignment to a Lender or an Affiliate of a Lender or an assignment of the
entire remaining amount of the assigning Lender’s Commitment or Loans, the
amount of the Commitment or Loans of the assigning Lender subject to each such
assignment, and the amount of the Commitment or Loans of the assigning Lender
remaining after each such assignment (in each case determined as of the date
the Assignment and Assumption with respect to such assignment is delivered to
the Administrative Agent), in each case shall not be less than $10,000,000
unless each of the Borrower and the Administrative Agent otherwise consent
(each such consent not to be unreasonably withheld or delayed), provided
that no such consent of the Borrower shall be required if an Event of Default
under clause (a), (b), (h), (i) or (j) of Article VI has
occurred and is continuing;

(B)           each
partial assignment shall be made as an assignment of a proportionate part of all
the assigning Lender’s rights and obligations under this Agreement; and

(C)           the
parties to each assignment shall execute and deliver to the Administrative
Agent an Assignment and Assumption, together with a processing and recordation
fee of $3,500.

For the purposes of this Section 10.04(b), the
term “Approved Fund” has the following meaning:

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

(iii)        Subject to acceptance
and recording thereof pursuant to paragraph (b)(iv) 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 9.03, 9.04, 9.05 and 10.03). 
Upon request, the Borrower (at its expense) shall execute and deliver a
Note to the assignee Lender, and the Note theretofore held by the assignor
Lender shall be returned to the Borrower in exchange 

 60
 

 

for a new
Note, payable to the assignee Lender and reflecting its retained interest (if
any) hereunder.  Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does
not comply with this Section 10.04 shall be treated for purposes of this
Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with paragraph (c) of this Section.

(iv)       The Administrative
Agent, acting solely for this purpose as an agent of the Borrower, shall
maintain at one of its offices a copy of each Assignment and Assumption
delivered to it and a register for the recordation of the names and addresses
of the Lenders, and the Commitment of, and principal amount of the Loans owing
to, each Lender pursuant to the terms hereof from time to time (the “Register”).  The entries in the Register shall be
conclusive, 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. 
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.

(v)        Upon its receipt of a
duly completed Assignment and Assumption executed by an assigning Lender and an
assignee, the processing and recordation fee referred to in paragraph (b)
of this Section and any written consent to such assignment required by
paragraph (b) of this Section, the Administrative Agent shall accept such
Assignment and Assumption and record the information contained therein in the
Register.  No assignment shall be
effective for purposes of this Agreement unless it has been recorded in the Register
as provided in this paragraph.

(c)           (i)            Any Lender may, without the consent
of, or notice to, the Borrower or the Administrative Agent, sell participations
to any Person (other than a natural Person 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 obligations under this Agreement
(including all or a portion of its Commitment and the Loans owing to it); provided
that (A) such Lender’s obligations under this Agreement shall remain
unchanged, (B) such Lender shall remain solely responsible to the other
parties hereto for the performance of such obligations and (C) the
Borrower, the Administrative Agent and the other Lenders shall continue to deal
solely and directly with such Lender in connection with such Lender’s rights
and obligations under this Agreement. 
Any agreement or instrument pursuant to which a Lender sells such a
participation shall provide that such Lender shall retain the sole right to
enforce this Agreement and to approve any amendment, modification or waiver of
any provision of this Agreement; provided that such agreement or
instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, modification or waiver described in the
first proviso to Section 10.02(b) that affects such Participant.  Subject to paragraph (d) of this
Section, the Borrower agrees that each Participant shall be entitled to the
benefits of Sections 9.03, 9.04 and 9.05  to
the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to paragraph (b) of this Section.  To the extent permitted by law, each
Participant also 

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shall be entitled to the benefits of Section 10.08 as though it
were a Lender, provided such Participant agrees to be subject to
Section 2.13(c)  as though it
were a Lender.

(d)           A
Participant shall not be entitled to receive any greater payment under
Sections 9.03 or 9.05  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 9.05
unless the Borrower is notified of the participation sold to such Participant
and such Participant agrees, for the benefit of the Borrower, to comply with
Section 9.05(e)  as though it
were a Lender.

(e)           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 without limitation any pledge
or assignment to secure obligations to a Federal Reserve Bank, and this
Section shall not apply to any such pledge or assignment of a security
interest; provided that no such pledge or assignment of a security
interest shall release a Lender from any of its obligations hereunder or
substitute any such pledgee or assignee for such Lender as a party hereto.

(f)            If
(w) any Lender requests compensation under Section 9.03, (x) 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 9.05, (y) if any Lender defaults in its obligation to fund
Loans hereunder or (z) if any Lender refuses to consent to any amendment
or waiver under this Agreement which pursuant to the terms of
Section 10.02 requires the consent of all Lenders or all affected Lenders
and with respect to which the Required Lenders shall have granted their
consent, 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 above in Section 10.04), all its interests, rights and
obligations under this Agreement to an assignee that shall assume such
obligations (which assignee may be another Lender, if a Lender accepts such assignment);
provided that (i) such assigning Lender shall have received payment
of an amount equal to the outstanding principal of its Loans, accrued interest
thereon, accrued fees and all other amounts payable to it hereunder, 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) and (ii) in the
case of any such assignment resulting from a claim for compensation under
Section 9.03 or payments required to be made pursuant to
Section 9.05, such assignment will result in a reduction in such
compensation or payments.  A Lender shall
not be required to make any such assignment and delegation if, prior thereto,
as a result of a waiver by such Lender or otherwise, the circumstances
entitling the Borrower to require such assignment and delegation cease to
apply.

(g)           Notwithstanding
anything to the contrary contained herein, any Lender (a “Granting Lender”)
may grant to a special purpose funding vehicle identified as such in writing from
time to time by the Granting Lender to the Administrative Agent and the
Borrower (an “SPC”) the option to provide all or any part of any Loan
that such Granting Lender would 

 62
 

 

otherwise be obligated to make pursuant to this Agreement; provided
that (i) nothing herein shall constitute a commitment by any SPC to fund
any Loan, and (ii) if an SPC elects not to exercise such option or
otherwise fails to make all or any part of such Loan, the Granting Lender shall
be obligated to make such Loan pursuant to the terms hereof.  Each party hereto hereby agrees that
(i) neither the grant to any SPC nor the exercise by any SPC of such
option shall increase the costs or expenses or otherwise increase or change the
obligations of the Borrower under this Agreement (including its obligations
under Section 9.03), (ii) no SPC shall be liable for any indemnity or
similar payment obligation under this Agreement for which a Lender would be
liable, and (iii) the Granting Lender shall for all purposes, including
the approval of any amendment, waiver or other modification of any provision of
any Loan Document, remain the lender of record hereunder.  The making of a Loan by an SPC hereunder
shall utilize the Commitment of the Granting Lender to the same extent, and as
if, such Loan were made by such Granting Lender.  In furtherance of the foregoing, each party
hereto hereby agrees (which agreement shall survive the termination of this
Agreement) that, prior to the date that is one year and one day after the
payment in full of all outstanding commercial paper or other senior debt of any
SPC, it will not institute against, or join any other Person in instituting
against, such SPC any bankruptcy, reorganization, arrangement, insolvency, or
liquidation proceeding under the laws of the United States or any State
thereof.  Notwithstanding anything to the
contrary contained herein, any SPC may (i) with notice to, but without
prior consent of the Borrower and the Administrative Agent and with the payment
of a processing fee of $3,500, assign all or any portion of its right to
receive payment with respect to any Loan to the Granting Lender and
(ii) disclose on a confidential basis any non-public information relating
to its funding of Loans to any rating agency, commercial paper dealer or provider
of any surety or Guarantee or credit or liquidity enhancement to such SPC.

(h)           Notwithstanding anything to the contrary
contained herein, any Lender that is a Fund may create a security interest in
all or any portion of the Loans owing to it and the Note, if any, held by it to
the trustee for holders of obligations owed, or securities issued, by such Fund
as security for such obligations or securities, provided that unless and
until such trustee actually becomes a Lender in compliance with the other provisions
of this Section 10.04, (i) no such pledge shall release the pledging
Lender from any of its obligations under the Loan Documents and (ii) such
trustee shall not be entitled to exercise any of the rights of a Lender under
the Loan Documents even though such trustee may have acquired ownership rights
with respect to the pledged interest through foreclosure or otherwise.

Section
10.05       Survival.  All
covenants, agreements, representations and warranties made by the Obligors
herein and in the other Loan Documents and in the certificates or other
instruments delivered in connection with or pursuant to this Agreement or the
other Loan Documents shall be considered to have been relied upon by the other
parties hereto and shall survive the execution and delivery of this Agreement
and the making of any Loans, regardless of any investigation made by any such
other party or on its behalf and notwithstanding that the Administrative Agent
or any Lender may have had notice or knowledge of any Default or incorrect
representation or warranty at the time any credit is extended hereunder, and
shall continue in full force and effect as long as the principal of or any
accrued interest on any Loan or 

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any fee or any other amount payable under
this Agreement or the other Loan Documents is outstanding and unpaid and so
long as the Commitments have not expired or terminated.  The provisions of Sections 9.03, 9.04,
9.05 and 10.03 and Article VII shall survive and remain in full force and
effect regardless of the consummation of the transactions contemplated hereby,
the repayment of the Loans, the expiration or termination of the Commitments or
the termination of this Agreement, any other Loan Document or any provision
hereof or thereof.

Section
10.06       Counterparts; Integration; Effectiveness.  This Agreement may be executed in
counterparts (and by different parties hereto on different counterparts), each
of which shall constitute an original, but all of which when taken together
shall constitute a single contract.  This
Agreement and the other Loan Documents constitute the entire contract among the
parties relating to the subject matter hereof and thereof and supersede any and
all previous agreements and understandings, oral or written, relating to the
subject matter hereof or thereof.  In the
event of any conflict between the provisions of this Agreement and those of any
other Loan Document, the provisions of this Agreement shall control; provided
that the inclusion of supplemental rights or remedies in favor of the
Administrative Agent or the Lenders in any other Loan Document shall not be
deemed a conflict with this Agreement. 
Each Loan Document was drafted with the joint participation of the
respective parties thereto and shall be construed neither against nor in favor
of any party, but rather in accordance with the fair meaning thereof.  Except as provided in Section 4.01, this
Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the Administrative Agent shall have received counterparts
hereof which, when taken together, bear the signatures of each of the other
parties hereto, and thereafter shall be binding upon and inure to the benefit
of the parties hereto and their respective successors and assigns.  Delivery of an executed counterpart of a
signature page of this Agreement by facsimile shall be effective as delivery of
a manually executed counterpart of this Agreement.

Section
10.07       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.

Section
10.08       Right of Setoff.  If
an Event of Default shall have occurred and be continuing, upon the making of
the request, or the granting of the consent, if required under Article VI
to authorize the Administrative Agent to declare the Loans due and payable,
each Lender and each of its Affiliates is hereby authorized at any time and
from time to time, to the fullest extent permitted by applicable law, to set off
and apply 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 or Affiliate to or for the
credit or the account of the Borrower or the Guarantor against any and all of
the obligations of 

 64
 

 

the Borrower or the Guarantor now or
hereafter existing under this Agreement or the other Loan Documents to such
Lender, irrespective of whether or not such Lender shall have made any demand
under this Agreement or any other Loan Document and although such obligations
of the Borrower or the Guarantor may be contingent or unmatured or are owed to
a branch or office of such Lender different from the branch or office holding
such deposit or obligated on such indebtedness. 
The rights of each Lender and its Affiliates under this Section are in
addition to other rights and remedies (including other rights of setoff) that
such Lender or its Affiliates may have. 
Each Lender 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.

Section
10.09       Governing Law; Jurisdiction;
Consent to Service of Process.

(a)           This
Agreement and the Notes shall be governed by, and construed in accordance with,
the law of the State of New York.

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

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

(d)           Each
Obligor hereby irrevocably designates and appoints CT Corporation System,
having an office on the date hereof at 111 Eighth Avenue, New York, New York
10011 as its authorized agent, to accept and acknowledge on its behalf, service
of any and all process which may be served in any suit, action or proceeding of
the nature referred to in paragraph (b) hereof in any Federal or New York
State court sitting in New York City. 
Each Obligor represents and warrants that such agent has agreed in
writing to accept such appointment and that

 65
 

 

a true copy of such designation and acceptance has been delivered to
the Administrative Agent.  If such agent
shall cease so to act, each Obligor covenants and agrees to designate
irrevocably and appoint without delay another such agent satisfactory to the
Administrative Agent and to deliver promptly to the Administrative Agent
evidence in writing of such other agent’s acceptance of such appointment.

(e)           Each
Lender and the Administrative Agent irrevocably consents to service of process
in the manner provided for notices in Section 10.01.

(f)            Nothing
in this Agreement or any other Loan Document will affect the right of any party
to this Agreement to serve process in any other manner permitted by law.

Section
10.10       Waiver of Jury Trial. 
EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT
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 PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK
TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER
PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER
LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN
THIS SECTION.

Section
10.11       Waiver of Immunities. 
TO THE EXTENT PERMITTED BY APPLICABLE LAW, IF EITHER OBLIGOR HAS OR
HEREAFTER MAY ACQUIRE ANY IMMUNITY (SOVEREIGN OR OTHERWISE) FROM ANY LEGAL
ACTION, SUIT OR PROCEEDING, FROM JURISDICTION OF ANY COURT OR FROM SET-OFF OR
ANY LEGAL PROCESS (WHETHER SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT,
ATTACHMENT IN AID OF EXECUTION OF JUDGMENT, EXECUTION OF JUDGMENT OR OTHERWISE)
WITH RESPECT TO ITSELF OR ANY OF ITS PROPERTY, SUCH OBLIGOR HEREBY IRREVOCABLY
WAIVES AND AGREES NOT TO PLEAD OR CLAIM SUCH IMMUNITY IN RESPECT OF ITS
OBLIGATIONS UNDER THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT.  EACH OBLIGOR AGREES THAT THE WAIVERS SET
FORTH ABOVE SHALL BE TO THE FULLEST EXTENT PERMITTED UNDER THE FOREIGN
SOVEREIGN IMMUNITIES ACT OF 1976 OF THE UNITED STATES OF AMERICA AND ARE INTENDED
TO BE IRREVOCABLE AND NOT SUBJECT TO WITHDRAWAL FOR PURPOSES OF SUCH ACT.

Section
10.12       Judgment Currency. 
If, under any applicable law and whether pursuant to a judgment being
made or registered against either Obligor or for any other reason, 

 66
 

 

any payment under or in connection with this
Agreement or any other Loan Document, is made or satisfied in a currency (the “Other
Currency”) other than that in which the relevant payment is due (the “Required
Currency”) then, to the extent that the payment (when converted into the
Required Currency at the rate of exchange on the date of payment or, if it is
not practicable for the party entitled thereto (the “Payee”) to purchase
the Required Currency with the Other Currency on the date of payment, at the
rate of exchange as soon thereafter as it is practicable for it to do so)
actually received by the Payee falls short of the amount due under the terms of
this Agreement or any other Loan Document, such Obligor shall, to the extent
permitted by law, as a separate and independent obligation, indemnify and hold
harmless the Payee against the amount of such shortfall.  For the purpose of this Section, “rate of
exchange” means the rate at which the Payee is able on the relevant date to
purchase the Required Currency with the Other Currency and shall take into
account any premium and other costs of exchange.

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

Section
10.14       Confidentiality.  Each
of the Administrative Agent and the Lenders shall maintain the confidentiality
of the Information (as defined below) and shall not use the Information except
for purposes relating directly to this Agreement, the other Loan Documents and
the Transactions, except that Information may be disclosed by the
Administrative Agent and the Lenders (a) to their and their Affiliates’
directors, officers, employees and agents whom they determine need to know such
Information in connection with matters relating directly to this Agreement, the
other Loan Documents and the Transactions, including accountants, legal counsel
and other advisors (it being understood that the Persons to whom such
disclosure is made will be informed of the confidential nature of such
Information and instructed to keep such Information confidential and the
Administrative Agent or the applicable Lenders shall be responsible for breach
of this Section by any such Person to whom it disclosed such Information),
(b) to the extent requested by any governmental
authority or regulatory agency (including any self-regulatory authority,
such as the National Association of Insurance Commissioners), (c) to the
extent required by applicable laws or regulations or upon order of any court or
administrative agency of competent jurisdiction, to the extent required by such
order and not effectively stayed on appeal or otherwise, or as otherwise
required by law; provided that in the case of any intended disclosure
under this clause (c), the recipient thereof shall (unless otherwise
required by applicable law) give the Guarantor not less than five Business Days’
prior notice (or such shorter period as may, in the good faith discretion of
the recipient, be reasonable under the circumstances or may be required by any
court or agency under the circumstances), specifying the Information involved
and stating such recipient’s intention to disclose such Information (including
the manner and extent of such disclosure) in order to allow the Guarantor an
opportunity to seek an appropriate protective order, (d) to any other
party hereto, (e) in connection with the exercise of any remedies under
this Agreement, any other Loan Document or any action or proceeding relating to
this Agreement or any other Loan Document or the enforcement of rights
hereunder or thereunder, (f) subject to an agreement in writing to be 

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bound by the provisions of this
Section (and of which the Guarantor shall be a third party beneficiary) or
in the case of a repurchase arrangement (“repo transaction”) subject to an
arrangement to be bound by provisions at least as restrictive as 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
other Loan Document or (ii) any actual or prospective counterparty (or its
advisors) to any swap or derivative transaction relating to the Borrower and
its obligations, (g) with the written consent of the Borrower referencing
this Section 10.14, or (h) to the extent such Information (x) becomes
publicly available other than as a result of a breach of this Section, a breach
of another confidentiality agreement to which the Administrative Agent or such
Lender is a party or any other legal or fiduciary obligation of the
Administrative Agent or such Lender or (y) becomes available to the
Administrative Agent or any Lender on a nonconfidential basis from a source
other than the Borrower.  For purposes of
this Section, “Information” means all information received from or on
behalf of any Obligor or Subsidiary Guarantor relating to any Obligor or any
Subsidiary Guarantor or any of their respective businesses, other than any such
information that the Administrative Agent or any Lender proves is available to
the Administrative Agent or any Lender on a nonconfidential basis prior to
disclosure by any Obligor or any Subsidiary Guarantor from a source which is
not, to the knowledge of the recipient, prohibited from disclosing such
information by a confidentiality agreement or other legal or fiduciary
obligation to the Obligors or Subsidiary Guarantors.  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 taken normal
and reasonable precautions and exercised due care to maintain the
confidentiality of such Information.  In
addition to other remedies, the Obligors shall be entitled to specific
performance and injunctive and other equitable relief for breach of this
Section 10.14.

Section
10.15       Electronic Communications.

(a)           Each
Obligor hereby agrees that except to the extent provided in clause (i) of
the final sentence of Section 5.01, it will provide to the Administrative
Agent all information, documents or other materials that it is obligated to
furnish to the Administrative Agent pursuant to this Agreement or any other
Loan Document, including, without limitation, all notices, requests, financial
statements, financial and other reports, certificates and other information
materials, but excluding any such communication that (i) relates to a
request for a new, or a conversion of an existing, borrowing or other extension
of credit (including any election of an interest rate or interest period
relating thereto), (ii) relates to the payment of any principal or other
amount due under this Agreement or any other Loan Document prior to the
scheduled date therefor, (iii) provides notice of any Default or Event of
Default, (iv) is required to be delivered to satisfy any condition
precedent to the effectiveness of this Agreement and/or any Borrowing hereunder
or (v) initiates or responds to legal process (all such non-excluded
information being referred to herein collectively as the “Communications”)
by transmitting the Communications in an electronic/soft medium (provided
such Communications contain any required signatures) in a format acceptable to
the Administrative Agent to its applicable e-mail address set forth on Schedule
10.01 (or such other e-mail address designated by the Administrative Agent from
time to time).

 

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(b)           Each party hereto
agrees that the Administrative Agent may make the Communications available to
the Lenders by posting the Communications on IntraLinks or another relevant
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) (the “Platform”).  Nothing
in this Section 5.01 shall prejudice the right of the Administrative Agent
to make the Communications available to the Lenders in any other manner
specified in this Agreement.

(c)           Each Obligor hereby
acknowledges that certain of the Lenders may be “public-side” Lenders (i.e.,
Lenders that do not wish to receive material non-public information with
respect to Obligors or their securities) (each, a “Public Lender”).  The Obligors hereby agree that
(i) Communications that are to be made available on the Platform to Public
Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum,
shall mean that the word “PUBLIC” shall appear prominently on the first page
thereof, (ii) by marking Communications “PUBLIC,” each Obligor shall be
deemed to have authorized the Administrative Agent and the Lenders to treat
such Communications as either publicly available information or not material
information (although it may be sensitive and proprietary) with respect to the
Obligors or their securities for purposes of United States Federal and state
securities laws, (iii) all Communications marked “PUBLIC” are permitted to
be made available through a portion of the Platform designated “Public Lender,”
and (iv) the Administrative Agent shall be entitled to treat any
Communications that are not marked “PUBLIC” as being suitable only for posting
on a portion of the Platform not designated “Public Lender.”

(d)           Each Lender agrees
that e-mail notice to it (at the address provided pursuant to the next sentence
and deemed delivered as provided in the next paragraph) specifying that
Communications have been posted to the Platform shall constitute effective
delivery of such Communications to such Lender for purposes of this
Agreement.  Each Lender agrees
(i) to notify the Administrative Agent in writing (including by electronic
communication) from time to time to ensure that the Administrative Agent has on
record an effective e-mail address for such Lender to which the foregoing
notice may be sent by electronic transmission and (ii) that the foregoing
notice may be sent to such e-mail address.

(e)           Each party hereto
agrees that any electronic communication referred to in this Section 10.15
shall be deemed delivered upon the posting of a record of such communication
(properly addressed to such party at the e-mail address provided to the
Administrative Agent) as “sent” in the e-mail system of the sending party or,
in the case of any such communication to the Administrative Agent, upon the
posting of a record of such communication as “received” in the e-mail system of
the Administrative Agent; provided
that if such communication is not so received by any party during the normal
business hours of the Administrative Agent, such communication shall be deemed
delivered at the opening of business on the next Business Day for the
Administrative Agent.

(f)            Each party hereto
acknowledges that (i) the distribution of material through an electronic
medium is not necessarily secure and that there are confidentiality and 

 69
 

 

other risks
associated with such distribution, (ii) the Communications and the
Platform are provided “as is” and “as available,” (iii) none of the
Administrative Agent, its affiliates nor any of their respective officers,
directors, employees, agents, advisors or representatives (collectively, the “Agent
Parties”) warrants the adequacy, accuracy or completeness of the
Communications or the Platform , and each Agent Party expressly disclaims
liability for errors or omissions in any Communications or the Platform, and
(iv) no warranty of any kind, express, implied or statutory, including,
without limitation, 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 any
Communications or the Platform.

Section 10.16       USA PATRIOT Act Notice. 
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 Obligors and the E Guarantor 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 Obligors and the E Guarantor, which information
includes the name and address of the Obligors and the E Guarantor and other
information that will allow such Lender or the Administrative Agent, as
applicable, to identify the Obligors and the E Guarantor in accordance with the
Act.

[Remainder
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 70

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

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

	
  

  	
   

  	
   

  	
   

  	
  TYCO ELECTRONICS GROUP S.A.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Michelangelo F. Stefani

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Michelangelo F. Stefani

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Managing Director

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  TYCO INTERNATIONAL LTD.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Christopher J. Coughlin

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Christopher J. Coughlin

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Senior Vice President and

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Chief Financial Officer

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  TYCO ELECTRONICS LTD.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Terrence Curtin

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Terrence Curtin

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Executive Vice President and

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Chief Financial Officer

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  BANK OF AMERICA, N.A.,

  as a Lender and as Administrative Agent

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Aileen Supena

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Aileen Supena

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  DEUTSCHE BANK AG NEW YORK BRANCH

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Frederick W. Laird

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Frederick W. Laird

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Managing Director

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Ming K. Chu

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Ming K. Chu

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  CITIBANK, N.A.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Kevin A. Ege

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Kevin A. Ege

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  UBS LOAN FINANCE LLC

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Irja R. Otsa

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Irja R. Otsa

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Associate Director Banking Products

  Services, US

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Mary E. Evans

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Mary E. Evans

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Associate Director Banking Products

  Services, US

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  JPMORGAN CHASE BANK, N.A.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Anthony W. White

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Anthony W. White

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  MORGAN STANLEY SENIOR FUNDING, INC.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Jaap L. Tonckens

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Jaap L. Tonckens

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  THE BANK OF NOVA SCOTIA

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Ajit Goswami

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Ajit Goswami

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Director

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  WILLIAM STREET
  COMMITMENT

  CORPORATION (Recourse only to assets of

  William Street Commitment Corporation)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Mark Walton

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Mark Walton

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Assistant Vice President

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  BARCLAYS BANK PLC

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Nicholas A. Bell

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Nicholas A. Bell

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Director

  
								

 

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  BNP PARIBAS

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Richard Pace

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Richard Pace

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Managing Director

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Nanette Baudon

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Nanette Baudon

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  LEHMAN BROTHERS BANK, FSB

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Janine M. Shugan

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Janine M. Shugan

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  ABN AMRO BANK N.V.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Andre Nel

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Andre Nel

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Managing Director

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Nancy W. Lanzoni

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Nancy W. Lanzoni

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Director

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

	
  

  	
   

  	
   

  	
   

  	
  SUMITOMO MITSUI
  BANKING

  CORPORATION, NEW YORK

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ David A. Buck

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  David A. Buck

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  ING CAPITAL LLC

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ John Kippax

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  John Kippax

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Managing Director

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  INTESA SANPAOLO
  S.P.A., NEW YORK BRANCH

  (AS SUCCESSOR TO SANPAOLO IMI S.P.A.)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Luca Sacchi

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Luca Sacchi

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Renato Carducci

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Renato Carducci

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  General Manager

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  MELLON BANK, N.A.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Daniel J. Lenckos

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Daniel J. Lenckos

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  First Vice President

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  MIZUHO CORPORATE BANK, LTD.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Bertram H. Tang

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Bertram H. Tang

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Senior VP & Team Leader

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Jay Levit

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Jay Levit

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President Global Corporate Banking

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Anne-Maureen Sarfati

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Anne-Maureen Sarfati

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President Global Corporate Banking

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  MANUFACTURERS
  & TRADERS TRUST

  COMPANY

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Tracey E. Sawyer-Calhoun

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Tracey E. Sawyer-Calhoun

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  THE NORTHERN TRUST COMPANY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Reid Acord

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Reid Acord

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  2nd VP

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  WESTPAC BANKING CORPORATION

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Bradley Scammell

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Bradley Scammell

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Head of Corporate and Institutional

  Banking Americas

  
								

 

 

 

[Signature Page to Five-Year Senior Credit Agreement
(Electronics)]

 

	
  

  	
   

  	
   

  	
   

  	
  THE GOVERNOR AND
  COMPANY OF THE

  BANK OF IRELAND

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Fergus McDonald

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Fergus McDonald

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By

  	
  /s/ Emer Haughey

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Emer Haughey

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Deputy ManagerExhibit
10.5

GUARANTOR ASSUMPTION
AGREEMENT

Guarantor
Assumption Agreement

(Electronics Businesses)

This Assignment and Assumption Agreement (Electronics
Businesses) (this “Agreement”)
is made and dated as of June 29, 2007, by and between Tyco International Ltd.,
a Bermuda company (the “Assignor”),
and Tyco Electronics Ltd., a Bermuda company (the “Assignee”).

RECITALS

A.            The Assignor is a party to the 364-Day Senior Bridge Loan
Agreement (Electronics Businesses) dated as of April 25, 2007 among Tyco International
Group S.A., Tyco Electronics Group S.A., the Assignor, the Assignee, the
lenders party thereto and Bank of America, N.A., as administrative agent for
such lenders (as amended, supplemented or otherwise modified from time to time,
the “Credit Agreement”).

B.            The Credit Agreement contemplates that the Assignor and
the Assignee shall execute and deliver this Agreement.

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

1.  Assignment and Assumption.  Assignor
hereby assigns and transfers to the Assignee and the Assignee hereby accepts
and assumes from the Assignor, all of the right, title, interest, obligations
and duties of the Assignor in, to and under the Credit Agreement, effective as
of the date of this Agreement (the “Effective Date”).

2.  Guarantor.  The
Assignee hereby confirms that, as of the Effective Date, automatically and
without further action of any party, (i) the Assignee shall be a party to the
Credit Agreement in place of the Assignor in all respects, (ii) the Assignee
shall assume, in full, all of the obligations and duties of the “Guarantor”
under the Credit Agreement, (iii) the Assignor shall relinquish its rights and
be released from its obligations under the Credit Agreement and (iv) all of the
terms and conditions of the Guarantee set forth in Article VIII of the Credit
Agreement are ratified and confirmed in all respects.

3.  Representations
and Warranties.  The Assignee hereby represents and warrants to
the Assignor and the Credit Agreement Parties that the representations and
warranties set forth in

Sections 3.01, 3.02, 3.03, 3.06 and 3.11 of the Credit
Agreement are true and correct as of the Effective Date with respect to it as
an Obligor.

4.  Governing Law.  This
Agreement shall be governed by, and construed in accordance with, the law of
the State of New York.

5.  Beneficiaries.  This
Agreement is intended to be solely for the benefit of the parties hereto and
the parties to the Credit Agreement and their respective successors and assigns
(collectively, the “Credit
Agreement Parties”) and is not intended to confer any benefits
upon, or create any rights in favor of, any person other than the parties
hereto and the Credit Agreement Parties.

6.  Website.  The Assignee
hereby designates www.tycoelectronics.com as its website for the purposes of
Section 5.01 of the Credit Agreement.

7.  Counterparts.  This
Agreement may be executed in any number of counterparts and by the different
parties hereto in separate counterparts, each of which when so executed shall
be deemed an original and all of which taken together shall constitute one and
the same instrument.

[Remainder of page intentionally left blank; Signature
pages follow.]

 2

[Signature
Page to Guarantor Assumption Agreement 

(Electronics - Bridge Loan Agreement)]

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

 

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TYCO INTERNATIONAL LTD.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Christopher Coughlin

  	
   

  
	
   

  	
   

  	
  Name:  Christopher
  Coughlin

  
	
   

  	
   

  	
  Title:    EVP
  & CFO

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TYCO ELECTRONICS LTD.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

[Signature
Page to Guarantor Assumption Agreement 

(Electronics - Bridge Loan Agreement)]

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

 

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TYCO INTERNATIONAL LTD.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TYCO ELECTRONICS LTD.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Terrence Curtain

  	
   

  
	
   

  	
   

  	
  Name: Terrence Curtain

  
	
   

  	
   

  	
  Title:   EVP
  & CFO

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}]]