Document:

Exhibit 10.2

AMENDMENT NO. 1 TO

 EMPLOYMENT AGREEMENT

THIS AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT is made
and entered into as of June 1, 2007, by and between Immucor, Inc.,
a Georgia corporation with its executive offices at 3130 Gateway Drive,
Norcross, Georgia 30071 (herein referred to as “Employer” or the “Company”),
and Gioacchino De Chirico (herein
referred to as “Employee”), and amends the Employment Agreement between the
Company and Employee dated December 1, 2003 (the “Original Agreement”).

The purposes of this Amendment are to (i) reflect
that the term of Employee’s employment will not be automatically extended on an
annual basis, but is instead stated to end five (5) years after the date of
this Amendment, (ii) to reflect that upon a termination after a Change in
Control (as defined in the Original Agreement) the amount payable to Employee will be reduced from five
(5) times Employee’s Average Annual Compensation (as defined therein) to two
(2) times Employee’s Average Annual Compensation, and (iii) to clarify
the time during which the Change in Control payments may be triggered, in light
of the fixed term of Employee’s employment.

Except as amended below, the terms of the Original
Agreement will remain in effect.

1.             The
first sentence of Section 3 of the Original Agreement, Term of Employment, is
amended in its entirety to read as follows . . . :

“Employee’s
employment hereunder shall commence on December 1, 2003 (hereinafter called the
“Effective Date”) and shall continue 
through May 31, 2012, unless sooner terminated by the first to occur of
the following:”

2.             The
last sentence of Section 3 of the Original Agreement, Term of Employment, which
reads as follows,

“If not sooner terminated
under the provisions of Sections 3(a) through 3(f) above, the term of Employee’s
employment hereunder shall automatically renew for an additional period of five
(5) years at each annual anniversary date of this agreement.”

is deleted in its entirety and shall no longer have any effect.

3.             Section
7(b) of the Original Agreement is amended in its entirety to read as follows .
.. . :

(b)                                 If, within 60 days
after an event described in Sections 7(a)(i), (a)(ii), (a)(iii) or (a)(iv) (a “Change
of Control”), the Employee voluntarily terminates his employment with the
Employer, or if during the term of this Agreement after a Change of Control
Employer terminates Employee’s employment (whether for Cause or without Cause),
then Employer shall pay Employee (instead of the amount specified in Section
4(c), if any, but together with the amount specified in Section 7(d), if any)
an amount equal to two (2) times the Employee’s Average Annual Compensation (as
defined below), to be paid in a single payment at the time of termination. In
consideration of such payment and his employment hereunder through the date of
such termination, Employee agrees to remain bound 

                                                by the provisions
of this agreement which specifically relate to periods, activities or
obligations upon or subsequent to the termination of Employee’s employment.

The parties have executed and delivered this
Amendment as of the date first mentioned above.

 

	
  IMMUCOR, INC.

  	
   

  	
  EMPLOYEE

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Philip H. Moise

  	
   

  	
  /s/ Gioacchino De Chirico

  
	
   

  	
  Philip H. Moïse

  	
   

  	
  Gioacchino De Chirico

  
	
   

  	
  Vice President,
  General Counsel & SecretaryExhibit 10.5

AMENDMENT NO. 2 TO

 EMPLOYMENT AGREEMENT

THIS AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT is made
and entered into as of June 1, 2007, by and between Immucor, Inc.,
a Georgia corporation with its executive offices at 3130 Gateway Drive,
Norcross, Georgia 30071 (herein referred to as “Employer” or the “Company”),
and Ralph A. Eatz (herein referred
to as “Employee”), and amends the Employment Agreement between the Company and
Employee dated May 1, 2004, as previously amended May 22, 2006 (the “Original
Agreement”).

The purpose of this Amendment is to reflect that
upon a termination after a Change in Control (as defined in the Original
Agreement) the amount payable to
Employee will be reduced from five (5) times Employee’s Average Annual
Compensation (as defined therein) to two (2) times Employee’s Average Annual
Compensation.

Except as amended below, the terms of the Original
Agreement will remain in effect.

Section 7(b) of the Original Agreement is amended in its entirety to read as follows .
.. . :

“(b)                           If, within 60 days
after an event described in Sections 7(a)(i), (a)(ii), (a)(iii) or (a)(iv) (a “Change
of Control”), the Employee voluntarily terminates his employment with the
Employer, or if during the term of this Agreement after a Change of Control
Employer terminates Employee’s employment (whether for Cause or without Cause),
then Employer shall pay Employee (instead of the amount specified in Section
4(c), if any,) an amount equal to two (2) times the Employee’s Average Annual
Compensation (as defined below), to be paid in a single payment at the time of
termination. In consideration of such payment and his employment hereunder
through the date of such termination, Employee agrees to remain bound by the
provisions of this Agreement which specifically relate to periods, activities
or obligations upon or subsequent to the termination of Employee’s employment.”

 

The parties have executed and delivered this
Amendment as of the date first mentioned above.

	
  IMMUCOR, INC.

  	
   

  	
  EMPLOYEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
  /s/ Philip H. Moïse

  	
   

  	
  /s/ Ralph A. Eatz

  
	
   

  	
   

  	
  Philip H. Moïse

  	
   

  	
  Ralph A. Eatz

  
	
   

  	
   

  	
  Vice President, General Counsel & SecretaryExhibit 10.1

Execution Version

AMENDED AND RESTATED

FIRST LIEN CREDIT AND GUARANTY AGREEMENT

dated as of May 16, 2007

among

AUDATEX NORTH AMERICA, INC.,

as U.S. Borrower,

SOLERA NEDERLAND HOLDING B.V. 

and 

AUDATEX HOLDINGS IV B.V.,

as Euro Borrowers,

AUDATEX HOLDINGS, LLC,

as Holdings and a Guarantor,

CERTAIN SUBSIDIARIES OF AUDATEX HOLDINGS, LLC,

as Guarantors,

VARIOUS LENDERS,

GOLDMAN SACHS CREDIT PARTNERS L.P.,

as Lead Arranger, Syndication Agent, Joint Bookrunner,

Administrative Agent and Collateral Agent,

CITIGROUP GLOBAL MARKETS, INC.,

as Joint Bookrunner,

and

CITICORP USA, INC.,

as Documentation Agent

$50,000,000 Senior Secured Revolving Credit Facility

$230,000,000 Senior Secured Domestic Tranche C Term Loans

€280,000,000 Senior Secured European Term Loans

TABLE OF CONTENTS

	
  

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  SECTION 1. DEFINITIONS AND INTERPRETATION

  	
   

  	
  3

  
	
  1.1. Definitions

  	
   

  	
  3

  
	
  1.2. Accounting
  Terms

  	
   

  	
  44

  
	
  1.3.
  Interpretation, etc.

  	
   

  	
  45

  
	
   

  	
   

  	
   

  
	
  SECTION 2. LOANS AND LETTERS OF CREDIT

  	
   

  	
  45

  
	
  2.1. Term Loans

  	
   

  	
  45

  
	
  2.2. Revolving
  Loans

  	
   

  	
  47

  
	
  2.3. Swing Line
  Loans

  	
   

  	
  48

  
	
  2.4. Issuance of
  Letters of Credit and Purchase of Participations Therein

  	
   

  	
  51

  
	
  2.5. Pro Rata
  Shares; Availability of Funds

  	
   

  	
  55

  
	
  2.6. Use of
  Proceeds.

  	
   

  	
  56

  
	
  2.7. Evidence of
  Debt; Register; Lenders’ Books and Records; Notes.

  	
   

  	
  56

  
	
  2.8. Interest on
  Loans

  	
   

  	
  57

  
	
  2.9.
  Conversion/Continuation

  	
   

  	
  59

  
	
  2.10. Default
  Interest

  	
   

  	
  60

  
	
  2.11. Fees

  	
   

  	
  60

  
	
  2.12. Scheduled
  Payments

  	
   

  	
  61

  
	
  2.13. Voluntary
  Prepayments/Commitment Reductions

  	
   

  	
  62

  
	
  2.14. Mandatory
  Prepayments/Commitment Reductions

  	
   

  	
  63

  
	
  2.15.
  Application of Prepayments/Reductions

  	
   

  	
  65

  
	
  2.16. General
  Provisions Regarding Payments

  	
   

  	
  66

  
	
  2.17. Ratable
  Sharing

  	
   

  	
  68

  
	
  2.18. Making or
  Maintaining Eurodollar Rate Loans

  	
   

  	
  68

  
	
  2.19. Increased
  Costs; Capital Adequacy

  	
   

  	
  70

  
	
  2.20. Taxes;
  Withholding, etc.

  	
   

  	
  71

  
	
  2.21. Obligation
  to Mitigate

  	
   

  	
  74

  
	
  2.22. Defaulting
  Lenders

  	
   

  	
  75

  
	
  2.23. Removal or
  Replacement of a Lender

  	
   

  	
  76

  
	
  2.24.
  Incremental Facilities

  	
   

  	
  77

  
	
   

  	
   

  	
   

  
	
  SECTION 3. CONDITIONS PRECEDENT

  	
   

  	
  78

  
	
  3.1. Closing
  Date

  	
   

  	
  78

  
	
  3.2. Conditions
  to Each Credit Extension

  	
   

  	
  78

  
	
  3.3. Effective
  Date.

  	
   

  	
  79

  
	
   

  	
   

  	
   

  
	
  SECTION 4. REPRESENTATIONS AND WARRANTIES

  	
   

  	
  81

  
	
  4.1.
  Organization; Requisite Power and Authority; Qualification

  	
   

  	
  81

  
	
  4.2. Capital
  Stock and Ownership

  	
   

  	
  81

  
	
  4.3. Due
  Authorization

  	
   

  	
  82

  
	
  4.4. No Conflict

  	
   

  	
  82

  
	
  4.5. Governmental
  Consents

  	
   

  	
  82

  
	
  4.6. Binding
  Obligation

  	
   

  	
  82

  
	
  4.7. [Reserved]

  	
   

  	
  82

  

 

 ii
 

 

	
  4.8. Projections

  	
   

  	
  83

  
	
  4.9. No Material
  Adverse Change

  	
   

  	
  83

  
	
  4.10. Adverse
  Proceedings, etc.

  	
   

  	
  83

  
	
  4.11. Payment of
  Taxes

  	
   

  	
  83

  
	
  4.12. Properties

  	
   

  	
  83

  
	
  4.13. Environmental
  Matters

  	
   

  	
  84

  
	
  4.14. No
  Defaults

  	
   

  	
  84

  
	
  4.15.
  Governmental Regulation

  	
   

  	
  84

  
	
  4.16. Margin
  Stock

  	
   

  	
  84

  
	
  4.17. Employee
  Matters

  	
   

  	
  85

  
	
  4.18. Employee
  Benefit Plans

  	
   

  	
  85

  
	
  4.19. [Reserved]

  	
   

  	
  86

  
	
  4.20. Solvency

  	
   

  	
  86

  
	
  4.21. [Reserved]

  	
   

  	
  86

  
	
  4.22. Compliance
  with Statutes, etc.

  	
   

  	
  86

  
	
  4.23. Disclosure

  	
   

  	
  86

  
	
  4.24. Patriot
  Act

  	
   

  	
  87

  
	
  4.25. Financial
  Assistance

  	
   

  	
  87

  
	
  4.26. Dutch
  Financial Supervision Act

  	
   

  	
  87

  
	
   

  	
   

  	
   

  
	
  SECTION 5. AFFIRMATIVE COVENANTS

  	
   

  	
  87

  
	
  5.1. Financial
  Statements and Other Reports

  	
   

  	
  88

  
	
  5.2. Existence

  	
   

  	
  91

  
	
  5.3. Payment of
  Taxes and Claims

  	
   

  	
  92

  
	
  5.4. Maintenance
  of Properties

  	
   

  	
  92

  
	
  5.5. Insurance

  	
   

  	
  92

  
	
  5.6. Books and
  Records; Inspections

  	
   

  	
  92

  
	
  5.7. Lenders
  Meetings

  	
   

  	
  93

  
	
  5.8. Compliance
  with Laws

  	
   

  	
  93

  
	
  5.9.
  Environmental

  	
   

  	
  93

  
	
  5.10.
  Subsidiaries

  	
   

  	
  94

  
	
  5.11. Additional
  Leasehold Property

  	
   

  	
  96

  
	
  5.12. Interest
  Rate Protection

  	
   

  	
  96

  
	
  5.13. Further
  Assurances

  	
   

  	
  96

  
	
  5.14. [Reserved]

  	
   

  	
  96

  
	
  5.15. Financial
  Assistance

  	
   

  	
  97

  
	
  5.16.
  Intellectual Property

  	
   

  	
  97

  
	
  5.17.
  Post-Closing Covenant

  	
   

  	
  97

  
	
   

  	
   

  	
   

  
	
  SECTION 6. NEGATIVE COVENANTS

  	
   

  	
  97

  
	
  6.1. Indebtedness

  	
   

  	
  97

  
	
  6.2. Liens

  	
   

  	
  100

  
	
  6.3. Equitable
  Lien

  	
   

  	
  103

  
	
  6.4. No Further
  Negative Pledges

  	
   

  	
  103

  
	
  6.5. Restricted
  Junior Payments

  	
   

  	
  103

  
	
  6.6.
  Restrictions on Subsidiary Distributions

  	
   

  	
  105

  
	
  6.7. Investments

  	
   

  	
  106

  

 

 iii
 

 

	
  6.8. Financial Covenants

  	
   

  	
  107

  
	
  6.9. Fundamental
  Changes; Disposition of Assets; Acquisitions

  	
   

  	
  109

  
	
  6.10. Disposal
  of Subsidiary Interests

  	
   

  	
  111

  
	
  6.11. Sales and
  Lease-Backs

  	
   

  	
  111

  
	
  6.12.
  Transactions with Shareholders and Affiliates

  	
   

  	
  111

  
	
  6.13. Conduct of
  Business

  	
   

  	
  112

  
	
  6.14. Permitted
  Activities of Holdings

  	
   

  	
  112

  
	
  6.15. Amendments
  or Waivers of Organizational
  Documents

  	
   

  	
  112

  
	
  6.16. Fiscal
  Year

  	
   

  	
  112

  
	
  6.17. Limitation
  with respect to German Credit Parties

  	
   

  	
  112

  
	
   

  	
   

  	
   

  
	
  SECTION 7. GUARANTY

  	
   

  	
  113

  
	
  7.1. Guaranty of
  the Obligations

  	
   

  	
  113

  
	
  7.2. Contribution
  by Guarantors

  	
   

  	
  113

  
	
  7.3. Payment by
  Guarantors

  	
   

  	
  114

  
	
  7.4. Liability
  of Guarantors Absolute

  	
   

  	
  114

  
	
  7.5. Waivers by
  Guarantors

  	
   

  	
  116

  
	
  7.6. Guarantors’
  Rights of Subrogation, Contribution, etc.

  	
   

  	
  117

  
	
  7.7.
  Subordination of Other Obligations

  	
   

  	
  117

  
	
  7.8. Continuing
  Guaranty

  	
   

  	
  118

  
	
  7.9. Authority
  of Guarantors or Borrowers

  	
   

  	
  118

  
	
  7.10. Financial
  Condition of Borrowers

  	
   

  	
  118

  
	
  7.11.
  Bankruptcy, etc.

  	
   

  	
  118

  
	
  7.12. Discharge
  of Guaranty Upon Sale of Guarantor

  	
   

  	
  119

  
	
  7.13. Foreign
  Guarantor Limitations

  	
   

  	
  119

  
	
   

  	
   

  	
   

  
	
  SECTION 8. EVENTS OF DEFAULT

  	
   

  	
  123

  
	
  8.1. Events of
  Default

  	
   

  	
  123

  
	
   

  	
   

  	
   

  
	
  SECTION 9. AGENTS

  	
   

  	
  127

  
	
  9.1. Appointment
  of Agents

  	
   

  	
  127

  
	
  9.2. Powers and
  Duties

  	
   

  	
  128

  
	
  9.3. General
  Immunity

  	
   

  	
  128

  
	
  9.4. Agents
  Entitled to Act as Lender

  	
   

  	
  129

  
	
  9.5. Lenders’
  Representations, Warranties and Acknowledgment

  	
   

  	
  130

  
	
  9.6. Right to
  Indemnity

  	
   

  	
  130

  
	
  9.7. Successor
  Administrative Agent, Collateral Agent, Issuing Bank and Swing Line Lender

  	
   

  	
  131

  
	
  9.8. Collateral
  Documents and Guaranty

  	
   

  	
  131

  
	
  9.9. Collateral
  Agent

  	
   

  	
  132

  
	
  9.10.
  Withholding Tax

  	
   

  	
  133

  
	
   

  	
   

  	
   

  
	
  SECTION 10. DEBT ALLOCATION MECHANISM

  	
   

  	
  133

  
	
  10.1.
  Implementation of DAM.

  	
   

  	
  133

  
	
  10.2. Letters of
  Credit

  	
   

  	
  134

  
	
  10.3. Net
  Payments Upon Implementation of DAM Exchange

  	
   

  	
  135

  

 

 iv
 

 

	
  SECTION 11. MISCELLANEOUS

  	
   

  	
  136

  
	
  11.1. Notices

  	
   

  	
  136

  
	
  11.2. Expenses

  	
   

  	
  137

  
	
  11.3. Indemnity

  	
   

  	
  138

  
	
  11.4. Set-Off

  	
   

  	
  139

  
	
  11.5. Amendments
  and Waivers

  	
   

  	
  139

  
	
  11.6. Successors
  and Assigns; Participations

  	
   

  	
  141

  
	
  11.7.
  Independence of Covenants

  	
   

  	
  145

  
	
  11.8. Survival
  of Representations, Warranties and Agreements

  	
   

  	
  145

  
	
  11.9. No Waiver;
  Remedies Cumulative

  	
   

  	
  145

  
	
  11.10.
  Marshalling; Payments Set Aside

  	
   

  	
  146

  
	
  11.11.
  Severability

  	
   

  	
  146

  
	
  11.12.
  Obligations Several; Independent Nature of Lenders’ Rights

  	
   

  	
  146

  
	
  11.13. Headings

  	
   

  	
  146

  
	
  11.14.
  APPLICABLE LAW

  	
   

  	
  146

  
	
  11.15. CONSENT
  TO JURISDICTION

  	
   

  	
  146

  
	
  11.16. WAIVER OF
  JURY TRIAL

  	
   

  	
  147

  
	
  11.17.
  Confidentiality

  	
   

  	
  148

  
	
  11.18. Usury
  Savings Clause

  	
   

  	
  149

  
	
  11.19.
  Counterparts

  	
   

  	
  149

  
	
  11.20.
  Effectiveness

  	
   

  	
  149

  
	
  11.21. Patriot
  Act

  	
   

  	
  149

  
	
  11.22.
  Electronic Execution of Assignments

  	
   

  	
  149

  
	
  11.23. Judgment
  Currency.

  	
   

  	
  150

  
	
  11.24. Amendment
  and Restatement.

  	
   

  	
  150

  
	
  11.25. Grant of
  Security Interests.

  	
   

  	
  150

  

 

 v
 

 

	
  APPENDICES:

  	
   

  	
  A-1

  	
   

  	
  Domestic Tranche C Term Loan Commitments

  	
   

  	
   

  
	
   

  	
   

  	
  A-2

  	
   

  	
  European Term Loan Commitments

  	
   

  	
   

  
	
   

  	
   

  	
  B

  	
   

  	
  Notice Addresses

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SCHEDULES:

  	
   

  	
  1.1A

  	
   

  	
  Security Principles

  	
   

  	
   

  
	
   

  	
   

  	
  1.1B

  	
   

  	
  Mandatory Costs

  	
   

  	
   

  
	
   

  	
   

  	
  4.1

  	
   

  	
  Jurisdictions of Organization and Qualification

  	
   

  	
   

  
	
   

  	
   

  	
  4.2

  	
   

  	
  Capital Stock and Ownership

  	
   

  	
   

  
	
   

  	
   

  	
  4.12

  	
   

  	
  Real Estate Assets

  	
   

  	
   

  
	
   

  	
   

  	
  6.1

  	
   

  	
  Certain Indebtedness

  	
   

  	
   

  
	
   

  	
   

  	
  6.2

  	
   

  	
  Certain Liens

  	
   

  	
   

  
	
   

  	
   

  	
  6.6

  	
   

  	
  Certain Restrictions on Subsidiary Distributions

  	
   

  	
   

  
	
   

  	
   

  	
  6.7

  	
   

  	
  Certain Investments

  	
   

  	
   

  
	
   

  	
   

  	
  6.12

  	
   

  	
  Certain Affiliate Transactions

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  EXHIBITS:

  	
   

  	
  A-1

  	
   

  	
  Funding Notice

  	
   

  	
   

  
	
   

  	
   

  	
  A-2

  	
   

  	
  Conversion/Continuation Notice

  	
   

  	
   

  
	
   

  	
   

  	
  A-3

  	
   

  	
  Issuance Notice

  	
   

  	
   

  
	
   

  	
   

  	
  B-1

  	
   

  	
  Domestic Tranche C Term Loan Note

  	
   

  	
   

  
	
   

  	
   

  	
  B-2

  	
   

  	
  European Term Loan C Note

  	
   

  	
   

  
	
   

  	
   

  	
  B-3

  	
   

  	
  Revolving Loan Note

  	
   

  	
   

  
	
   

  	
   

  	
  B-4

  	
   

  	
  Swing Line Note

  	
   

  	
   

  
	
   

  	
   

  	
  C

  	
   

  	
  Compliance Certificate

  	
   

  	
   

  
	
   

  	
   

  	
  D-1

  	
   

  	
  Opinion of Kirkland & Ellis LLP

  	
   

  	
   

  
	
   

  	
   

  	
  D-2

  	
   

  	
  Opinion of Blake, Cassels & Graydon LLP

  	
   

  	
   

  
	
   

  	
   

  	
  D-3

  	
   

  	
  Opinion of NautaDutilh N.V.

  	
   

  	
   

  
	
   

  	
   

  	
  D-4

  	
   

  	
  Opinion of Van Doorne N.V.

  	
   

  	
   

  
	
   

  	
   

  	
  D-5

  	
   

  	
  Opinion of Kirkland & Ellis International LLP

  	
   

  	
   

  
	
   

  	
   

  	
  D-6

  	
   

  	
  Opinion of Latham & Watkins, LLP

  	
   

  	
   

  
	
   

  	
   

  	
  D-7

  	
   

  	
  Opinion of Elvinger, Hoss & Prussen

  	
   

  	
   

  
	
   

  	
   

  	
  D-8

  	
   

  	
  Opinion of Bonn Schmitt Steichen

  	
   

  	
   

  
	
   

  	
   

  	
  D-9

  	
   

  	
  Opinion of Froriep Renggli

  	
   

  	
   

  
	
   

  	
   

  	
  D-10

  	
   

  	
  Opinion of Bär & Karrer

  	
   

  	
   

  
	
   

  	
   

  	
  D-11

  	
   

  	
  Opinion of Latham & Watkins

  	
   

  	
   

  
	
   

  	
   

  	
  E

  	
   

  	
  Assignment Agreement

  	
   

  	
   

  
	
   

  	
   

  	
  F

  	
   

  	
  Certificate re Non-Bank Status

  	
   

  	
   

  
	
   

  	
   

  	
  G-1

  	
   

  	
  Effective Date Certificate

  	
   

  	
   

  
	
   

  	
   

  	
  G-2

  	
   

  	
  Solvency Certificate

  	
   

  	
   

  
	
   

  	
   

  	
  H

  	
   

  	
  Counterpart Agreement

  	
   

  	
   

  
	
   

  	
   

  	
  I-1

  	
   

  	
  [Reserved]

  	
   

  	
   

  
	
   

  	
   

  	
  I-2

  	
   

  	
  [Reserved]

  	
   

  	
   

  
	
   

  	
   

  	
  I-3

  	
   

  	
  Dutch Asset Pledges

  	
   

  	
   

  
	
   

  	
   

  	
  I-4

  	
   

  	
  [Reserved]

  	
   

  	
   

  

 

 vi
 

 

	
  

  	
   

  	
  I-5

  	
   

  	
  [Reserved]

  	
   

  	
   

  
	
   

  	
   

  	
  I-6

  	
   

  	
  Effective Date Swiss Collateral Document

  	
   

  	
   

  
	
   

  	
   

  	
  I-7

  	
   

  	
  Effective Date U.K. Security Agreements

  	
   

  	
   

  
	
   

  	
   

  	
  J

  	
   

  	
  Landlord Waiver and Consent Agreement

  	
   

  	
   

  
	
   

  	
   

  	
  K

  	
   

  	
  Intercompany Note

  	
   

  	
   

  
	
   

  	
   

  	
  L

  	
   

  	
  Joinder Agreement

  	
   

  	
   

  

 

 vii

AMENDED AND
RESTATED FIRST LIEN CREDIT AND GUARANTY AGREEMENT

This AMENDED AND
RESTATED  FIRST LIEN  CREDIT AND GUARANTY AGREEMENT, dated as of
May 16, 2007, is entered into by and among AUDATEX NORTH AMERICA,
INC., a Delaware corporation  (“U.S. Borrower”), SOLERA
NEDERLAND HOLDING B.V. (formerly known as  Business
Services Group Holdings B.V.), a company organized under the laws of the
Netherlands (“EuroCo” and a “Euro
Borrower”), AUDATEX  HOLDINGS IV B.V., a company organized under the laws of the
Netherlands (“EuroHoldco” and a “Euro Borrower;” together with EuroCo, the “Euro Borrowers;” and the Euro Borrowers,
collectively with the U.S. Borrower, the “Borrowers”),
AUDATEX HOLDINGS, LLC, a Delaware
limited liability company (“Holdings”)
and CERTAIN SUBSIDIARIES OF HOLDINGS, as Guarantors, the Lenders party hereto from time
to time, GOLDMAN SACHS CREDIT PARTNERS L.P.
(“GSCP”), as Lead Arranger (in
such capacity, “Lead Arranger”),
as Syndication Agent (in such capacity, “Syndication
Agent”), as Joint Bookrunner, as Administrative Agent (together with
its permitted successors in such capacity, “Administrative
Agent”), and as Collateral Agent (together with its permitted
successor in such capacity, “Collateral Agent”);
provided, that for the avoidance of doubt, the term Collateral Agent
shall include GSCP acting in its capacity as trustee for and on behalf of the
Secured Parties under, and in accordance with the terms of, the U.K. Security
Agreements, CITIGROUP GLOBAL MARKETS, INC. (“CGMI”), as Joint Bookrunner, and CITICORP
USA, INC. (“CUSA”), as
Documentation Agent (in such capacity, “Documentation
Agent”).

RECITALS:

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

WHEREAS, the Borrowers,
Holdings, GSCP as lead arranger, syndication agent, joint bookrunner and
administrative agent, CGMI as joint bookrunner, certain Subsidiaries of Holdings as Guarantors, the agents and lenders
party thereto from time to time are parties to that certain FIRST LIEN  CREDIT AND
GUARANTY AGREEMENT, dated as of April 13, 2006 (the “Existing First Lien
Credit Agreement”);

WHEREAS, the Euro
Borrowers, Holdings, GSCP as lead arranger, syndication agent and joint
bookrunner, CGMI as joint bookrunner, CUSA as administrative agent, certain Subsidiaries of Holdings as
Guarantors, the agents and lenders party thereto from time to time are parties
to that certain SECOND LIEN  CREDIT AND GUARANTY AGREEMENT, dated
as of April 13, 2006 (the “Existing Second Lien Credit Agreement”);

WHEREAS, Audatex
Holdings III B.V., as borrower, Holdings, GSCP as lead arranger, syndication
agent, joint bookrunner and administrative agent, CGMI as joint bookrunner, certain Subsidiaries of Holdings as
Guarantors, the agents and lenders party thereto from time to time are parties
to that certain SUBORDINATED UNSECURED  CREDIT AND GUARANTY AGREEMENT, dated
as of April 13, 2006 (the “Existing Holdco PIK Agreement”);

WHEREAS, the Borrowers desire that certain of the
existing lenders and other parties hereto agree to amend and restate the
Existing First Lien Credit Agreement in its entirety to: (i) establish Term
Loans to be made hereunder; (ii) refinance the existing Domestic Term Loans

(the “Existing
Domestic Term Loans”) and the European Term Loan A and the European
Term Loan B (the “Existing European Term Loans”
and, together with the Existing Domestic Term Loans, the “Existing
Term Loans”) in each case made, and as defined, under the Existing
First Lien Credit Agreement with the Term Loans made hereunder in the manner
set forth herein; (iii) refinance all amounts outstanding under the Existing
Second Lien Credit Agreement, (iv) allow for the proceeds of a Qualifying IPO
in an amount not less than $250,000,000 and received as of the Effective Date
(the “IPO Proceeds”) to be applied to
refinance all amounts outstanding under the Existing Holdco PIK Agreement and
(v) make certain other changes as more fully set forth herein, which amendment
and restatement shall become effective upon the Effective Date as defined
herein;

WHEREAS, the Requisite Lenders have, on or prior to
the Effective Date, authorized the Administrative Agent to execute this
Agreement on behalf of all Continuing Lenders;

WHEREAS, Holdings has agreed (i)
to guarantee the Obligations of the U.S. Borrower, each of the Euro Borrowers
and each of the other Guarantors, (ii) to secure its guarantee of the
Obligations of the Euro Borrowers and each of the Foreign Guarantors by
granting to the Collateral Agent, for the benefit of the Secured Parties, a
First Priority Lien on 100% of the Capital Stock of Audatex Holdings, Inc., a
Delaware corporation, and 100% of the Capital Stock of Audatex Holdings II
S.àr.l., a company organized under the laws of Luxembourg (“Euro Top
Holdco”) and (iii) to secure its guarantee of the Obligations of the
U.S. Borrower and each of the other Domestic Guarantors by granting to the
Collateral Agent, for the benefit of the Secured Parties, a First Priority Lien
on 100% of the Capital Stock of Audatex Holdings, Inc. and 65% of the Capital
Stock of Euro Top Holdco;

WHEREAS, U.S. Borrower has
agreed (i) to guarantee the Obligations of each of the Euro Borrowers and the
other Guarantors and (ii) to secure all of its Obligations as U.S. Borrower and
its guarantee of the Obligations of the Euro Borrowers and the other Guarantors
by granting to the Collateral Agent, for the benefit of the Secured Parties, a
First Priority Lien on substantially all of its assets (to the extent set forth
herein and in each other Credit Document), including a pledge of substantially
all of the Capital Stock of each of its directly-owned Domestic Subsidiaries
and 65% (or 100% in the case of pledges to secure obligations of the Euro
Borrowers and Foreign Guarantors) of the Capital Stock of each of its first
tier Foreign Subsidiaries;

WHEREAS, each Euro Borrower has
agreed (i) to guarantee the Obligations of the other Euro Borrower and the
other Foreign Guarantors pursuant to the terms and subject to the conditions
set forth herein (including, in particular, the limitations set forth in
Section 7.13) and (ii) to secure its Obligations as a Euro Borrower and its
guarantee of the Obligations of the other Euro Borrower and the other Foreign
Guarantors by granting to the Collateral Agent, for the benefit of the Secured
Parties, a First Priority Lien on substantially all of its assets (to the
extent set forth herein and in each other Credit Documents), including a pledge
of substantially all of the Capital Stock of each of its directly-owned
Subsidiaries;

WHEREAS, each of the Domestic
Guarantors (other than Holdings) has agreed (i) to guarantee the Obligations of
the Borrowers and (ii) to secure its guarantee of such Obligations by granting
to the Collateral Agent, for the benefit of the Secured Parties, a First
Priority Lien on

 2
 

substantially all of their respective assets (to the
extent set forth herein and in each other Credit Documents), including a pledge
of all of the Capital Stock of each of their respective directly-owned
Domestic Subsidiaries and 65% (or 100% in the case of pledges to secure
obligations of the Euro Borrowers and Foreign Guarantors) of the Capital Stock
of each of their respective first tier Foreign Subsidiaries;

WHEREAS, each of the Foreign
Guarantors (other than the Euro Borrowers) has agreed (i) to guarantee the
Obligations of the Euro Borrowers and the other Foreign Guarantors pursuant to
the terms and subject to the conditions set forth herein (including, in
particular, the limitations set forth in Section 7.13) and (ii) to secure its
guarantee of such Obligations by granting to Collateral Agent, for the benefit
of the Secured Parties, a First Priority Lien on substantially all of their
respective assets (to the extent set forth herein and in each other Credit
Document), including a pledge of all of the Capital Stock of each of their
respective directly-owned Subsidiaries;

WHEREAS, it is the intent of the parties hereto that
this Agreement not constitute a novation of the obligations and liabilities of
the parties under the Existing First Lien Credit Agreement and that this
Agreement amend and restate in its entirety the Existing First Lien Credit
Agreement and re-evidence the Obligations outstanding on the Effective
Date as contemplated hereby; and

WHEREAS, it is the intent of Credit Parties to
confirm that all Obligations of the Credit Parties under the other Credit
Documents, as amended hereby, shall continue in full force and effect and that,
from and after the Effective Date, all references to the “Credit Agreement”
contained therein shall be deemed to refer to this Agreement.

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

SECTION 1.                            DEFINITIONS
AND INTERPRETATION

1.1.   Definitions.  The following terms
used herein, including in the preamble, recitals, exhibits and schedules
hereto, shall have the following meanings:

“Accounting Change” as defined in Section 1.2.

“Acquired Business”
means, collectively, ADP Business
Services Group B.V., Audatex Holding GmbH, ADP Network Services Netherlands
B.V., ADP Hollander, Inc., ADP Claims Services Group, Inc., ADP Integrated
Medical Solutions, Inc. (and each of their respective Subsidiaries) and the
Foreign Assets (as defined in the Acquisition Agreement).

“Acquisition”  means
(i) the acquisition made by EuroCo of
all of the voting power and outstanding Capital Stock of ADP Business Services
Group B.V., (ii) the acquisition made by EuroHoldco of all of the voting power
and outstanding Capital Stock of each of Audatex Holding GmbH, ADP Network
Services Netherlands B.V. and, through one of its Subsidiaries, the Foreign
Assets (as defined in the Acquisition Agreement) and (iii) the acquisition made
by the U.S. Borrower of all of the voting power and outstanding Capital Stock

 3
 

of
each of ADP Hollander, Inc., ADP Claims Services Group, Inc. and ADP Integrated
Medical Solutions, Inc., in each case pursuant to the terms of the Acquisition
Agreement.

“Acquisition Agreement” means the Transaction Agreement dated as of
February 8, 2006 among Solera and the Sellers, as such agreement may be amended
from time to time with the prior consent of Syndication Agent, such consent not
to be unreasonably withheld or delayed.

“Adjusted Eurodollar Rate”
means, for any Interest Rate Determination Date with respect to an Interest
Period for a Eurodollar Rate Loan, the rate per annum obtained by dividing (and
rounding upward to the next whole multiple of 1/16 of 1%) (i) (a) in the case
of a Eurodollar Rate Loan denominated in Dollars, the rate per annum (rounded
to the nearest 1/100 of 1%) equal to the rate determined by Administrative
Agent to be the offered rate which appears on the page of the Reuters Screen
LIBOR01 Page which displays an average British Bankers Association Interest
Settlement Rate for deposits (for delivery on the first day of such period)
with a term equivalent to such period in Dollars, determined as of
approximately 11:00 a.m. (London, England time) on such Interest Rate
Determination Date, (b) in the case of a Eurodollar Rate Loan denominated in
Euro, the offered quotation which appears on the page of the Reuters Screen
EURIBOR01 Page which displays an average rate of the Banking Federation of the
European Union for the Euro for deposits (for delivery on the first day of such
Interest Period) with a term equivalent to such Interest Period in Euro,
determined as of approximately 11:00 A.M. (London, England time) on such
Interest Rate Determination Date, (c) in the event the rate referenced in the
preceding clauses (a) or (b) do not appear on such page or service or if such
page or service shall cease to be available, the rate per annum (rounded to the
nearest 1/100 of 1%) equal to the rate determined by Administrative Agent to be
the offered rate on such other page or other service which displays, in the
case of a Eurodollar Rate Loan in Dollars, an average British Bankers’
Association Interest Settlement Rate for deposits (for delivery on the first
day of such Interest Period) with a term equivalent to such Interest Period in
Dollars or, in the case of a Eurodollar Rate Loan in Euro, the average rate of
the Banking Federation of the European Union for deposits (for delivery on the
first day of such Interest Period) with a term equivalent to such Interest
Period in Euro, in each case determined as of approximately 11:00 a.m. (London,
England time) on such Interest Rate Determination Date, or (d) in the event the
rates referenced in the preceding clauses (a), (b) and (c) are not available,
the rate per annum (rounded to the nearest 1/100 of 1%) equal to the offered
quotation rate to first class banks in the London interbank market or European
interbank market by CUSA for deposits (for delivery on the first day of the
relevant period) in Dollars or Euro, as applicable, of amounts in same day
funds comparable to the principal amount of the applicable Loan of
Administrative Agent, in its capacity as a Lender, for which the Adjusted
Eurodollar Rate is then being determined with maturities comparable to such period
as of approximately 11:00 a.m. (London, England time) on such Interest Rate
Determination Date, by (ii) but only in the case of Eurodollar Loans
denominated in Dollars an amount equal to (a) one minus (b) the
Applicable Reserve Requirement.

“Administrative Agent”
as defined in the preamble hereto.

“Adverse Proceeding”
means any action, suit, proceeding, hearing (whether administrative, judicial
or otherwise), governmental investigation or arbitration (whether or not

 4
 

purportedly on behalf of
Holdings or any of its Subsidiaries) at law or in equity, or before or by any
Governmental Authority, domestic or foreign (including any Environmental
Claims), whether pending or, to the actual knowledge of Holdings or any of its
Subsidiaries, threatened against or affecting Holdings or any of its
Subsidiaries or any property of Holdings or any of its Subsidiaries.

“Affected Lender”
as defined in Section 2.18(b).

“Affected Loans” as
defined in Section 2.18(b).

“Affiliate” means,
as applied to any Person, any other Person directly or indirectly controlling,
controlled by, or under common control with, that Person.  For the purposes of this definition, “control”
(including, with correlative meanings, the terms “controlling”, “controlled by”
and “under common control with”), as applied to any Person, means the
possession, directly or indirectly, of the power (i) to vote 10% or more of the
Securities having ordinary voting power for the election of directors of such
Person or (ii) to direct or cause the direction of the management and policies
of that Person, whether through the ownership of voting securities or by
contract or otherwise.

“Agent” means each
of Administrative Agent, Syndication Agent, Collateral Agent and Documentation
Agent and their sub-agents.

“Agent Affiliates” as
defined in Section 11.1(b).

“Aggregate Amounts Due”
as defined in Section 2.17.

“Aggregate Payments”
as defined in Section 7.2.

“Agreement” means
this Amended and Restated First Lien Credit and Guaranty Agreement, dated as of
May 16, 2007, as it may be amended, supplemented, restated or otherwise
modified from time to time.

“Applicable Margin”
and “Applicable Revolving Commitment Fee
Percentage” mean (i) prior to, and including, the first anniversary
of the Effective Date, with respect to Term Loans that are Eurodollar Rate
Loans, 2.00% per annum, (ii) following the first anniversary of the Effective
Date, with respect to Term Loans that are Eurodollar Rate Loans, a percentage,
per annum, determined by reference to the Leverage Ratio in effect from time to
time as set forth below:

	
  Leverage

  Ratio

  	
   

  	
  Applicable Margin

  for Term Loans

  	
   

  
	
  > 3.25:1.00

  	
   

  	
  2.00

  	
  %

  
	
  <
  3.25:1.00

  	
   

  	
  1.75

  	
  %

  

 

(iii) with respect to
Revolving Loans that are Eurodollar Rate Loans and the Applicable Revolving
Commitment Fee Percentage, a percentage, per annum, determined by reference to
the Leverage Ratio in effect from time to time as set forth below:

 5
 

 

	
  Leverage

  Ratio

  	
   

  	
  Applicable Margin

  for Revolving Loans

  	
   

  	
  Applicable Revolving

  Commitment Fee

  Percentage

  	
   

  
	
  > 4.00:1.00

  	
   

  	
  2.25

  	
  %

  	
  0.50

  	
  %

  
	
  < 4.00:1.00

  	
   

  	
  2.00

  	
  %

  	
  0.375

  	
  %

  

 

and (iv) with respect to Swing Line Loans, Revolving
Loans and Domestic Tranche C Term Loans that are Base Rate Loans, an amount
equal to (a) the Applicable Margin for Eurodollar Rate Loans as set forth in
clauses (i), (ii) or (iii) above, as applicable, minus (b) 1.00% per
annum.  No change in the Applicable
Margin or the Applicable Revolving Commitment Fee Percentage shall be effective
until three Business Days after the date on which Administrative Agent shall
have received the applicable financial statements and a Compliance Certificate
pursuant to Section 5.1(d) calculating the Leverage Ratio.  At any time Holdings has not submitted to
Administrative Agent the applicable information as and when required under
Section 5.1(d), the Applicable Margin and the Applicable Revolving Commitment
Fee Percentage shall be determined as if the Leverage Ratio were in excess of
4.00:1.00.  Within one Business Day of
receipt of the applicable information under Section 5.1(d), Administrative
Agent shall give each Lender telefacsimile or telephonic notice (confirmed in
writing) of the Applicable Margin and the Applicable Revolving Commitment Fee
Percentage in effect from such date.  In
the event that any financial statement or certificate delivered pursuant to
Section 5.1 is shown to be inaccurate (at a time when this Agreement is in
effect and unpaid Obligations under this Agreement are outstanding (other than
indemnities and other contingent obligations not yet due and payable), and such
inaccuracy, if corrected, would have led to the application of a higher
Applicable Margin for any period (an “Applicable Period”)
than the Applicable Margin applied for such Applicable Period, then (i) the
Borrowers shall immediately deliver to Administrative Agent a correct
certificate required by Section 5.1 for such Applicable Period, (ii) the
Applicable Margin shall be determined as if the Leverage Ratio were in excess
of (x) 3.25:1.00 in respect of the Term Loans and (y) 4.00:1.00 in respect of
the Revolving Loans and the Revolving Commitment Fee Percentage and (iii) the
Borrowers shall immediately pay to Administrative Agent the accrued additional
interest owing as a result of such increased Applicable Margin for such
Applicable Period.  Nothing in this
paragraph shall limit the right of Administrative Agent or any Lender under
Section 2.10 or Section 8.

“Applicable Reserve Requirement”
means, at any time, for any Eurodollar Rate Loan, the maximum rate, expressed
as a decimal, at which reserves (including, without limitation, any basic
marginal, special, supplemental, emergency or other reserves) are required to
be maintained with respect thereto against “Eurodollar liabilities” (as such
term is defined in Regulation D) under regulations issued from time to time by
the Board of Governors or other applicable banking regulator, excluding any
such reservations compensated through any Mandatory Cost payable.  Without limiting the effect of the foregoing,
the Applicable Reserve Requirement shall reflect any other reserves required to
be maintained by such member banks with respect to (i) any category of
liabilities which includes deposits by reference to which the applicable
Adjusted Eurodollar Rate or any other interest rate of a Loan is to be
determined, or (ii) any category of extensions of credit or other assets which
include Eurodollar Rate Loans.  A
Eurodollar Rate Loan shall be deemed to constitute Eurodollar liabilities and
as such shall be deemed subject to reserve requirements without benefits of
credit for proration, exceptions or offsets that may be available from time to
time to the applicable Lender.  The rate
of interest on

 6
 

Eurodollar Rate Loans
shall be adjusted automatically on and as of the effective date of any change
in the Applicable Reserve Requirement.

“Approved Electronic Communications” means any notice, demand, communication,
information, document or other material that any Credit Party provides to
Administrative Agent pursuant to any Credit Document or the transactions
contemplated therein which is distributed to the Agents or to the lenders by
means of electronic communications pursuant to Section 11.1(b).

“Asset Sale” means
a sale, lease or sub-lease (as lessor or sublessor), sale and leaseback,
assignment, conveyance, transfer or other disposition to, or any exchange of
property with, any Person (other than among Holdings, the U.S. Borrower and
Domestic Guarantors or among the Euro Borrowers and Foreign Guarantors), in one
transaction or a series of transactions, of all or any part of Holdings’ or any
of its Subsidiaries’ businesses, assets or properties of any kind, whether
real, personal, or mixed and whether tangible or intangible, whether now owned
or hereafter acquired, including, without limitation, the Capital Stock of any
of Holdings’ Subsidiaries, other than (i) inventory (or other assets) sold or
leased in the ordinary course of business (excluding any such sales by
operations or divisions discontinued or to be discontinued), or (ii) sales, leases
or subleases of other assets for aggregate consideration (or, with respect to leases or subleases,
aggregate annual rent) of less than $5,000,000 in the aggregate during
any Fiscal Year.

“Assignment Agreement”
means an Assignment and Assumption Agreement substantially in the form of
Exhibit E, with such amendments or modifications as may be approved by
Administrative Agent and U.S. Borrower.

“Assignment Effective Date” as
defined in Section 11.6(b).

“Authorized Officer”
means, as applied to any Person, any individual holding the position of
chairman of the board (if an officer), chief executive officer, president or
one of its vice presidents (or the equivalent thereof), and such Person’s chief
financial officer or treasurer, provided,
that the term “Authorized Officer” when applied to a United Kingdom Person
shall mean any individual holding the position of director.

“Bankruptcy Code”
means Title 11 of the United States Code entitled “Bankruptcy,” as now and
hereafter in effect, or any successor statute.

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

“Base Rate Loan”
means a Loan denominated in Dollars bearing interest at a rate determined by reference
to the Base Rate.

“Beneficiary” means
each Agent, Issuing Bank, Lender and Lender Counterparty.

 7
 

“Board of Governors” means the
Board of Governors of the United States Federal Reserve System, or any
successor thereto.

“Borrower” and “Borrowers”
as defined in the preamble hereto.

“Business Day”
means (i) any day excluding Saturday, Sunday and any day which is a legal
holiday under the laws of the State of New York or is a day on which banking
institutions located in such state are authorized or required by law or other
governmental action to close, (ii) with respect to all notices, determinations,
fundings and payments in connection with any Eurodollar Rate Loans denominated
in Dollars, the term “Business Day”
shall mean any day which is a Business Day described in clause (i) and which is
also a day for trading by and between banks in Dollar deposits in the London
interbank market and (iii) with respect to all notices, determinations,
fundings and payments in connection with any Eurodollar Rate Loans denominated
in Euro, the term “Business Day”
shall mean any day which is a Business Day described in clause (i) and which is
also a TARGET Day.

“Canadian Guarantor” means
Audatex Canada, ULC, an Alberta unlimited liability corporation.

“Canadian Security Documents”
means (i) the General Canadian General Security Agreement executed by the
Canadian Guarantor in favor of the Secured Parties, (ii) the Quebec Security
Documents and (iii) any other security or pledge agreement executed by a Credit
Party in favor of the Secured Parties and governed by the federal laws of
Canada or any province or territory thereof, in each case, substantially in the form of Exhibit I-2 of
the Existing First Lien Credit Agreement, as any of the foregoing has
been or may be amended, restated, supplemented or otherwise modified from time
to time.

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

“Capital Stock”
means any and all shares, interests, participations or other equivalents
(however designated) of capital stock of a corporation, any and all equivalent
ownership interests in a Person (other than a corporation), including, without
limitation, partnership interests and membership interests, and any and all
warrants, rights or options to purchase or other arrangements or rights to
acquire any of the foregoing.

“Cash” means money,
currency or a credit balance in any demand or Deposit Account.

“Cash Equivalents”
means, as at any date of determination, (i) marketable securities (a) issued or
directly and unconditionally guaranteed as to interest and principal by the
United States Government or (b) issued by any agency of the United States the
obligations of which are backed by the full faith and credit of the United
States, in each case maturing within one year after such date; (ii) marketable
direct obligations issued by any state of the United States of America or any
political subdivision of any such state or any public instrumentality thereof,
in each case maturing within one year after such date and having, at the time
of the acquisition thereof, a rating of at least A-1 from S&P or at
least P-1 from Moody’s;

 8
 

(iii) commercial
paper maturing no more than one year from the date of creation thereof and
having, at the time of the acquisition thereof, a rating of at least A-1
from S&P or at least P-1 from Moody’s; (iv) certificates of deposit
or bankers’ acceptances (or, in the case of Foreign Credit Parties and their
Foreign Subsidiaries, the foreign equivalent) maturing within one year after
such date and issued or accepted by any Lender or by any commercial bank
organized under the laws of the United States of America or any state thereof
or the District of Columbia that (a) is at least “adequately capitalized” (as
defined in the regulations of its primary Federal banking regulator) and (b)
has Tier 1 capital (as defined in such regulations) of not less than
$100,000,000 (or, in the case of Foreign Credit Parties and their Foreign
Subsidiaries, any local office of any commercial bank organized under the law
of the relevant jurisdiction or any political subdivision thereof which has
combined capital and surplus and undivided profits in excess of the Foreign
Currency Equivalent of $100,000,000); and (v) shares of any money market mutual
fund that (a) has substantially all of its assets invested continuously in the
types of investments referred to in clauses (i) and (ii) above, (b) has net
assets of not less than $500,000,000, and (c) has the highest rating obtainable
from either S&P or Moody’s; provided, that, in the case of any
Investment by a Foreign Subsidiary, “Cash Equivalents” shall also include: (x)
direct obligations of the sovereign nation (or any agency thereof) in which
such Foreign Subsidiary is organized and is conducting business or in
obligations fully and unconditionally guaranteed by such sovereign nation (or
any agency thereof), in each case maturing within a year after such date and
having, at the time of the acquisition thereof, a rating equivalent to at least
A-1 from S&P and at least P-1 from Moody’s, (y) investments of the type and
maturity described in clauses (i) through (v) above of foreign obligors, which
Investments or obligors (or the parents of such obligors) have ratings
described in such clauses or equivalent ratings from comparable foreign rating
agencies and (z) shares of money market mutual or similar funds which invest
exclusively in assets otherwise satisfying the requirements of this definition
(including this proviso).

“Certificate re Non-Bank Status”
means a certificate substantially in the form of Exhibit F.

“CGMI” as defined in the
preamble hereto.

 “Change of Control” means, at any time, (i)
any Person or “group” (within the meaning of Rules 13d-3 and 13d-5
under the Exchange Act) other than Existing Shareholders (a) shall have
acquired beneficial ownership of the greater of (1) 35% or more on a fully diluted
basis of the voting and/or economic interest in the Capital Stock of Solera
Holdings, Inc. and (2) the percentage of the economic and voting interests of
the Capital Stock of Solera Holdings, Inc. beneficially owned and controlled on
a fully diluted basis by the Existing Shareholders or (b) shall have obtained
the power (whether or not exercised) to elect a majority of the members of the
board of directors (or similar governing body) of Solera Holdings, Inc.; (ii)
Holdings shall cease to beneficially own and control directly or indirectly
(through a wholly-owned Subsidiary of Holdings which is a Guarantor) 100% on a
fully diluted basis of the economic and voting interest in the Capital Stock of
each Borrower (other than pursuant to a merger or a sale transaction permitted

 9
 

hereunder); or (iii)
Solera Holdings, Inc. shall cease to beneficially own and control directly or
indirectly (through a wholly-owned Subsidiary of Solera Holdings, Inc. which is
a Guarantor) 100% on a fully diluted basis of the economic and voting interest
in the Capital Stock of Holdings (other than pursuant to a merger or a sale
transaction permitted hereunder); or (iv) the majority of the seats (other than
vacant seats) on the board of directors (or similar governing body) of Solera Holdings,
Inc. cease to be occupied by Persons who either (a) were members of the board
of directors of Solera Holdings, Inc. on the Closing Date or (b) were nominated
for election by the board of directors of Solera Holdings, Inc., a majority of
whom were directors on the Closing Date or whose election or nomination for
election was previously approved by a majority of such directors.

“Class” means (i)
with respect to Lenders, each of the following classes of Lenders:  (a) Lenders having Domestic Tranche C Term
Loan Exposure, (b) Lenders having European Term Loan Exposure, (c) Lenders
having Domestic Revolving Exposure (including Swing Line Lender), (d) Lenders
having European Revolving Exposure, and (e) Lenders having New Term Loan
Exposure of each applicable Series, and (ii) with respect to Loans, each of the
following classes of Loans: (a) Domestic Tranche C Term Loans,
(b) European Term Loans, (c) Domestic Revolving Loans (including Swing
Line Loans), (d) European Revolving Loans, and (e) each Series of New Term
Loans.

“Closing Date”
means April 13, 2006, the date on which the Existing Term Loans were made.

“Collateral” means,
collectively, all of the real, personal and mixed property (including Capital
Stock) in which Liens are purported to be granted pursuant to the Collateral
Documents as security for all or any part of the Obligations (subject to exceptions contained in the
Collateral Documents) (provided that the intention of this Agreement and the
Collateral Documents is to exclude from the term “Collateral” any property that
is reasonably likely to cause a material deemed distribution pursuant to
Section 956 of the Internal Revenue Code, and this Agreement and the Collateral
Documents shall be interpreted in a manner that does not cause, or prevent the
Credit Parties from taking actions that would avoid, such a material deemed
distribution).

“Collateral Agent” as
defined in the preamble hereto.

“Collateral Documents”
means the Pledge and Security Agreement, the Canadian Security Documents, the
Dutch Collateral Documents, the German Collateral Documents, the Luxembourg
Collateral Documents, the Swiss Collateral Documents, the U.K. Security
Agreements, the Landlord Personal Property Collateral Access Agreements, if
any, the IP Security Agreements, the Control Agreements, if any, and all other
instruments, documents and agreements delivered by any Credit Party pursuant to
this Agreement or any of the other Credit Documents in order to grant to
Collateral Agent, for the benefit of Secured Parties, a Lien on any personal or
mixed property of that Credit Party as security for all or any part of the
Obligations.

“Collateral Questionnaire”
means a certificate in form reasonably satisfactory to Collateral Agent that
provides information with respect to the personal or mixed property of each
Credit Party.

“Commitment” means
any Revolving Commitment or Term Loan Commitment.

 10
 

“Commitment Letter” means that
certain commitment letter dated as of February 7, 2006 among GSCP, CGMI and
Solera, as amended, restated, supplemented or otherwise modified prior to the
date hereof.

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

“Consolidated Adjusted EBITDA”
means, for any period, an amount determined for Holdings and its Subsidiaries
on a consolidated basis equal to (i) the sum, without duplication, of the
amounts for such period of (x) Consolidated Net Income, plus, to the
extent such amounts reduce Consolidated Net Income for such period, (y) (a)
Consolidated Interest Expense (including
fees and expenses paid to the Agents), (b) losses from extraordinary items
(including trademark royalty fees paid to Seller) and nonrecurring or
unusual items, (c) provisions for taxes, (d) total depreciation expense,
(e) total amortization expense, (f) to the extent not capitalized, (1) the
Transaction Costs and any losses, fees, costs and expenses incurred during such period in
connection with the consummation (or any of the following which is attempted
and not consummated) of a Permitted Acquisition, Joint Ventures permitted by
Section 6.7 or otherwise approved by Requisite Lenders or in connection with
any registration of securities in connection with a Qualifying IPO or (2)
losses, costs or expenses to the
extent reimbursable by third parties pursuant to indemnification provisions or in connection with other sales,
merger or acquisition transactions of the Acquired Business not consummated by
the Seller, (g) any aggregate net loss in such period from the permitted sale,
exchange or other disposition of capital assets (other than dispositions of
inventory in the ordinary course of business) by Holdings or any of its
Subsidiaries taken as a whole,
(h) any write-off or amortization made in such period of deferred financing
costs or any write-down of assets or asset value carried on the balance sheet
of Holdings or any of its Subsidiaries, (i) purchase accounting adjustments
(including the recognition of deferred revenues included on the Closing Date on
the balance sheets of Sellers at such time, and in such amounts as they
otherwise would have been recognized if not for such purchase accounting
adjustments), (j) earn-out obligations
incurred in connection with any Permitted Acquisition and paid or accrued
during such period, (k) all 
non-cash charges and non-cash losses for such period reducing
Consolidated Net Income, including the
amount of any compensation deduction as the result of any grant of equity or
options to employees, officers, directors or consultants, (l) payments received
by Holdings or any of its Subsidiaries taken as a whole from business interruption insurance in an
amount not to exceed the earnings for such period that such proceeds were
intended to replace, (m) any transition costs associated with the Acquisition
or any Permitted Acquisition, including costs associated with the relocation or
closure of facilities (including data center facilities), costs associated with
the transfer or relocation of employees, costs associated with the transfer or replacement
of software licenses used in the operation of business, and costs associated
with the announcement, re-naming and branding of the Acquired Business after
the Closing Date, (n) severance costs and retention payments paid by or on
behalf of, or accrued by, Holdings or any of its Subsidiaries taken as a whole
during such period within 24 months of the Acquisition or any Permitted
Acquisition and the compensation, benefits and payroll taxes paid to or on
behalf of employees of the seller who are no longer employed by Holdings or its
Subsidiaries during the period consisting of the twelve months prior to the
former employee’s last day of employment, (o) net losses in the fair market
value of any hedging agreements, (p) cumulative effect of changes in accounting
principles, (q) net losses with respect to investments in any Person (other
than a

 11
 

Subsidiary
of Holdings) during such period to the extent that none of Holdings or any of
its Subsidiaries contribute cash or Cash Equivalents to such Person in respect
of such loss during such period, and (r) any portion of management fees paid by
or on behalf of, or accrued by, Solera pursuant
to the Professional Services Agreement to the extent permitted under Section
6.5(e) of the Existing
First Lien Credit Agreement, minus
(ii) (w) gains from extraordinary items,
(x) other non-Cash items increasing Consolidated Net Income for such
period (excluding any such non-Cash item to the extent it represents the
reversal of an accrual or reserve for a potential Cash item in any prior
period), (y) any aggregate net gain in
such period from the permitted sale, exchange or other disposition of capital
assets (other than dispositions of inventory in the ordinary course of
business) by such Person or any of its Subsidiaries taken as a whole,
and (z) the amount of any expenses previously added back to Consolidated
Adjusted  EBITDA pursuant to clause
(i)(f)(2) above to the extent the reimbursement of such expenses is not made
with one year of the payment of such expenses; provided, that the calculations made in determining
Consolidated Adjusted EBITDA shall be determined, with respect to any relevant
period, after giving pro forma effect to each Permitted Acquisition or
Asset Sale consummated during such
period (including any incurrence, assumption, refinancing or repayment of
Indebtedness in connection therewith), as if such Permitted Acquisition, Asset
Sale and related transactions had been consummated on the first day of such
period, and such calculations shall be calculated containing (i) such
adjustments consistent with Regulation S-X under the Securities Act of 1933 which would include cost savings resulting from head count
reduction, closure of facilities and similar restructuring charges, which pro
forma adjustments shall be certified by the chief financial officer of Holdings
and (ii) such other adjustments related to projected or anticipated
cost-savings or synergies related to such Permitted Acquisition or Joint
Ventures permitted by Section 6.7 (or otherwise agreed to by Requisite Lenders)
to the extent reasonably acceptable to the Administrative Agent.

“Consolidated Capital Expenditures”
means, for any period, the aggregate of all expenditures of Holdings and its
Subsidiaries during such period determined on a consolidated basis that, in
accordance with GAAP, are or should be included in “purchase of property and
equipment” or similar items reflected in the consolidated statement of cash
flows of Holdings and its Subsidiaries but excluding (to the extent that they
would otherwise be included):

(i)                                     any
such expenditures made for the replacement or restoration of assets to the
extent paid for by any casualty insurance policy or condemnation award with
respect to the asset or assets being replaced or restored to the extent such
expenditures are permitted under the Agreement;

(ii)                                  for
purposes of Section 6.8(d) only, capital expenditures which constitute
Permitted Acquisitions;

(iii)                               any such expenditures
made with proceeds of an equity issuance (so long as the equity issued in such
issuance does not carry a cash dividend and is not puttable or callable at any
time prior to 91 days following the Term Loan Maturity Date) of Holdings or a
debt issuance by Holdings or any of its Subsidiaries to the extent such debt
issuance was permitted hereunder or otherwise agreed to by Requisite Lenders;
and

 12

(iv)                              any
such expenditures to the extent Holdings or any of its Subsidiaries has
received reimbursement in cash from a third party other than Holdings or one or
more if its Subsidiaries and for which none of Holdings or any of its
Subsidiary has provided or is required to provide or incur, directly or
indirectly, any consideration or obligation to such third party or any other
Person.

“Consolidated
Current Assets” means, as at any date of determination, the
total assets of Holdings and its Subsidiaries on a consolidated basis that may
properly be classified as current assets in conformity with GAAP, excluding
Cash and Cash Equivalents and, for the avoidance of doubt, IPO Proceeds.

“Consolidated
Current Liabilities” means, as at any date of determination,
the total liabilities of Holdings and its Subsidiaries on a consolidated basis
that may properly be classified as current liabilities in conformity with GAAP,
excluding the current portion of long term debt.

“Consolidated
Excess Cash Flow” means, for any period, an amount (if
positive) equal to:  (i) the sum, without
duplication, of the amounts for such period of (a) Consolidated Adjusted
EBITDA, plus (b) the Consolidated Working Capital Adjustment, minus (ii)
the sum, without duplication, of the amounts for such period of (a) scheduled
and mandatory repayments of Indebtedness for borrowed money (excluding (i)
repayments of Revolving Loans or Swing Line Loans except to the extent a
corresponding amount of the Revolving Commitments are permanently reduced in connection
with such repayments and (ii) the repayment of Existing Term Loans on the
Effective Date), (b) (i) all cash payments in respect of Consolidated
Capital Expenditures plus (ii) to the extent amounts permitted to be
paid during such period in respect of Consolidated Capital Expenditures are
carried forward to the next succeeding period in accordance with Section
6.8(d), the aggregate amounts of all cash payments (not to exceed such
permitted carryforward amount) in respect of Consolidated Capital Expenditures
made during the first 130 days of the next succeeding period; provided,
that any cash payments in respect of Consolidated Capital Expenditures deducted
from Consolidated Excess Cash
Flow pursuant to this section shall not thereafter be deducted from Consolidated
Excess Cash Flow during such next
succeeding period during which such payments are actually paid, (c)
Consolidated Interest Expense, (d) provisions for current taxes payable in cash
with respect to such period, (e) cash
payments during such period in respect of Permitted Acquisitions and
Investments permitted by Section 6.7(f), (h), (k), (l) and (p) or otherwise
consented to by the Requisite Lenders, (f) the aggregate amount of all
Restricted Payments allowed under Section 6.5(b), (c), (d) or (h) or otherwise
consented to by the Requisite Lenders and actually paid in cash during such
period, (g) management fees actually paid in cash during such period to the
extent permitted under Section 6.5(e), (h) the aggregate amount of expenses
added back under (f) of the definition of Consolidated Adjusted EBITDA and
actually paid in cash by  Holdings and its Subsidiaries during such period, in each case to the
extent added to Consolidated Net Income in the determination of Consolidated
Adjusted EBITDA for such period, (i) transaction related expenditures to the
extent added to Consolidated Net Income in the determination of Consolidated
Adjusted EBITDA under (m) and (n) of the definition of Consolidated Adjusted
EBITDA and to the extent actually paid in cash during such period, (j) an
amount equal to the income and withholding taxes (as estimated in good faith by
a senior financial or senior

 13
 

accounting officer of the U.S. Borrower and after giving effect to the
overall tax position of Holdings and its Subsidiaries) payable in the year
following the period for which a mandatory prepayment under Section 2.14 is
determined in respect of that amount of mandatory prepayment under Section 2.14
as is attributable to the actual repatriation to the Borrower of undistributed
earnings of those Subsidiaries of the Borrower that are “controlled foreign
corporations” under Section 956 of the Code to enable it to prepay the Loans in
respect of a mandatory prepayment under Section 2.14 for such period, (k)
earn-out obligations paid in connection with Permitted Acquisitions to the
extent such obligations have not been deducted in determining Consolidated Net
Income for the period Consolidated Excess Cash Flow is determined and to the extent actually paid in cash
during such period, (l) capitalized software development costs and expenses in
an aggregate amount not to exceed $12,000,000 per Fiscal Year and (m) the
amount, which, in the determination of Consolidated Adjusted EBITDA, has been
included in respect of income or cash gains from Assets Sales of Holdings or it
Subsidiaries to the extent utilized to repay or prepay Loans in accordance with
Section 2.14(a) (but in the case of Revolving Loans, only to the extent a
corresponding reduction in the Revolving Commitments is made).

“Consolidated
Interest Expense” means, for any period, total interest
expense (including that portion attributable to Capital Leases in accordance
with GAAP and capitalized interest) of Holdings and its Subsidiaries on a
consolidated basis with respect to all outstanding Indebtedness of Holdings and
its Subsidiaries, including all commissions, discounts and other fees and
charges owed with respect to letters of credit and net costs under Interest
Rate Agreements, but excluding, however, any amount not payable in Cash, any
interest on intercompany loans to the extent permitted by Section 6.1(b) and
any amounts referred to in Section 2.11(d) payable on or before the Closing
Date or the Effective Date.

“Consolidated
Net Income” means, for any period, (i) the net income (or
loss) of Holdings and its Subsidiaries on a consolidated basis for such period
taken as a single accounting period determined in conformity with GAAP, minus
(ii) (a) the income (or loss) of any Person (other than a Subsidiary of
Holdings) in which any other Person (other than Holdings or any of its
Subsidiaries) has a joint interest, except to the extent of the amount of
dividends or other distributions actually paid to Holdings or any of its
Subsidiaries by such Person during such period, (b) except as permitted under
the second proviso at the end of the definition of Consolidated Adjusted
EBITDA, the income (or loss) of any Person accrued prior to the date it becomes
a Subsidiary of Holdings or is merged into or consolidated with Holdings or any
of its Subsidiaries or that Person’s assets are acquired by Holdings or any of
its Subsidiaries, (c) any after-tax gains or losses attributable to Asset
Sales or returned surplus assets of any Pension Plan, and (c) (to the extent
not included in clauses (a) through (c) above) any net extraordinary gains or
net extraordinary losses.

“Consolidated
Total Debt” means, as at any date of determination, the
aggregate amount of all funded Indebtedness of Holdings and its Subsidiaries
determined on a consolidated basis in accordance with GAAP.

“Consolidated
Working Capital” means, as at any date of determination, the
excess of Consolidated Current Assets over Consolidated Current Liabilities.

 14
 

“Consolidated
Working Capital Adjustment” means, for any period on a
consolidated basis, the amount (which may be a negative number) by which
Consolidated Working Capital as of the beginning of such period exceeds (or is
less than) Consolidated Working Capital as of the end of such period.

“Continuing
Lender” means an Existing First Lien Lender under the
Existing First Lien Credit Agreement that has delivered a Lender Consent Letter
agreeing to convert all or a portion of its Existing Term Loans to Domestic
Tranche C Term Loans or European Term Loans hereunder, as applicable.

“Contractual
Obligation” means, as applied to any Person, any provision of
any Security issued by that Person or of any indenture, mortgage, deed of
trust, contract, undertaking, agreement or other instrument to which that
Person is a party or by which it or any of its properties is bound or to which
it or any of its properties is subject.

“Contributing
Guarantors” as defined in Section 7.2.

“Control
Agreements” means each control agreement executed and
delivered by the Collateral Agent for the benefit of the Secured Parties, a
securities intermediary or depositary bank and the applicable Credit Party on
the Closing Date and each control agreement to be executed and delivered by
Collateral Agent, a securities intermediary or depositary bank and the applicable
Credit Party pursuant to the terms of the Pledge and Security Agreement.

“Conversion/Continuation
Date” means the effective date of a continuation or
conversion, as the case may be, as set forth in the applicable
Conversion/Continuation Notice.

“Conversion/Continuation
Notice” means a Conversion/Continuation Notice substantially
in the form of Exhibit A-2.

“Counterpart
Agreement” means a Counterpart Agreement substantially in the
form of Exhibit H delivered by a Credit Party pursuant to Section 5.10.

“Credit
Date” means the date of a Credit Extension.

“Credit
Document” means any of this Agreement, the Notes, if any, the
Collateral Documents, any documents or certificates executed by Borrowers in
favor of Issuing Bank relating to Letters of Credit and all other documents,
certificates, instruments or agreements executed and delivered by a Credit
Party for the benefit of any Agent, Issuing Bank or any Lender in connection
herewith.

“Credit
Extension” means the making of a Loan or the issuing of a
Letter of Credit.

“Credit
Party” means each Borrower and Guarantor from time to time
party to a Credit Document.

“CUSA” as defined in the
preamble hereto.

 15
 

“Cure
Amount” as defined in Section 6.8(e).

“Cure
Right” as defined in Section 6.8(e).

“Currency
Agreement” means any foreign exchange contract, currency swap
agreement, futures contract, option contract, synthetic cap or other similar
agreement or arrangement, each of which is for the purpose of hedging the
foreign currency risk associated with Holdings’ and its Subsidiaries’
operations and not for speculative purposes.

“DAM” means the mechanism for the allocation and
exchange of interests in the Loans and collections thereunder established under
Section 10.

“DAM Dollar Lender” means any Lender that has made or holds any
Loan other than Domestic Loans.

“DAM
Exchange” means the
exchange of the Lenders’ interests provided for in Section 10.1.

“DAM
Exchange Date” means
the date on which (a) any event referred to in Section 8.1(f) or 8.1(g) shall
occur in respect of the U.S. Borrower or any Domestic Guarantor or (b) an
acceleration of the maturity of the Loans pursuant to Section 8 of this
Agreement shall occur.

“DAM
Percentage” means, as
to each Lender, a fraction, expressed as a decimal, of which (a) the numerator
shall be the aggregate Dollar Equivalent (determined on the basis of Spot
Exchange Rates prevailing on the DAM Exchange Date) of the Obligations owed to
such Lender (excluding such Lender’s participation in the aggregate amount of
Letters of Credit outstanding immediately prior to the DAM Exchange Date) and
(b) the denominator shall be the aggregate Dollar Equivalent (as so determined)
of the Obligations owed to all the Lenders (excluding the aggregate amount of
Letters of Credit outstanding immediately prior to such DAM Exchange
Date).  For purposes of computing each
Lender’s DAM Percentage, all Obligations which are denominated in Euro shall be
translated into Dollars at the Spot Exchange Rate in effect on the DAM Exchange
Date.

“Default”
means a condition or event that constitutes an Event of Default, or after
notice or expiration of any grace period set forth in Section 8 or both, would
constitute an Event of Default.

“Default
Excess” means, with respect to any Defaulting Lender, the
excess, if any, of such Defaulting Lender’s Pro Rata Share of the aggregate
outstanding principal amount of Loans of all Lenders (calculated as if all
Defaulting Lenders (including such Defaulting Lender) had funded all of their
respective Defaulted Loans) over the aggregate outstanding principal amount of
all Loans of such Defaulting Lender.

“Default
Period” means, with respect to any Defaulting Lender, the
period commencing on the date of the applicable Funding Default and ending on
the earliest of the following dates:  (i)
the date on which all Commitments are cancelled or terminated and/or the
Obligations are declared or become immediately due and payable, (ii) the date
on which (a) the

 16
 

Default Excess with
respect to such Defaulting Lender shall have been reduced to zero (whether by
the funding by such Defaulting Lender of any Defaulted Loans of such Defaulting
Lender or by the non-pro rata application of any voluntary or mandatory
prepayments of the Loans in accordance with the terms of Section 2.13 or
Section 2.14 or by a combination thereof or (iii) the replacement of the
Defaulting Lender in accordance with the terms hereof) and (b) such
Defaulting Lender shall have delivered to Borrowers and Administrative Agent a
written reaffirmation of its intention to honor its obligations hereunder with
respect to its Commitments, and (iii) the date on which Borrowers,
Administrative Agent and Requisite Lenders waive all Funding Defaults of such
Defaulting Lender in writing.

“Defaulted
Loan” as defined in Section 2.22.

“Defaulting
Lender” as defined in Section 2.22.

“Deposit
Account” means a demand, time, savings, passbook or like
account with a bank, savings and loan association, credit union or like
organization, other than an account evidenced by a negotiable certificate of
deposit.

“Documentation
Agent” as defined in the preamble hereto.

“Dollar
Equivalent” means (i)
with respect to an amount denominated in Euro on any date, the amount of
Dollars that may be purchased with such amount of Euro at the Spot Exchange
Rate on such date and (ii) with respect to an amount denominated in Dollars on
any date, the amount thereof.

“Dollars”
and the sign “$” mean the lawful
money of the United States of America.

“Domestic Credit Party”
means Holdings and each of its Domestic Subsidiaries.

“Domestic Guarantors”  means, on the date of this Agreement, Holdings, each Domestic
Subsidiary of Holdings and each Foreign Subsidiary of Holdings (in each
case that is not an Excluded Subsidiary) that is treated as a pass-through or
disregarded entity for United States federal income tax purposes and all of the
Capital Stock of which is directly owned by Holdings or one or more Domestic
Subsidiaries of Holdings listed
on the signature pages of this Agreement and, thereafter, each Domestic
Subsidiary of Holdings and each Foreign Subsidiary of Holdings (in each
case that is not an Excluded Subsidiary) that is treated as a pass-through or
disregarded entity for United States federal income tax purposes and all of the
interests of which are directly owned by Holdings or one or more Domestic
Subsidiaries of Holdings that
signs a Counterpart Agreement or such other accession agreement to this
Agreement as a Domestic Guarantor accepted and agreed by, and in form and
substance reasonably satisfactory to, the Administrative Agent. For the
avoidance of doubt, Audatex Canada, ULC shall be treated as a Domestic
Guarantor, not a Foreign Guarantor.

 “Domestic Loans” means, collectively, the Domestic Tranche C
Term Loans and the Domestic Revolving Loans.

 17
 

“Domestic Revolving Commitment” means the
commitment of a Lender to make or otherwise fund any Domestic Revolving Loan
and to acquire participations in Letters of Credit and Swing Line Loans
hereunder and “Domestic Revolving Commitments”
means such commitments of all Lenders in the aggregate.  The amount of each Lender’s Domestic
Revolving Commitment, if any, as of the Effective Date is the amount in Dollars
as set forth in the Register or in the applicable Assignment Agreement.

“Domestic
Revolving Exposure” means, with respect to any Lender as of
any date of determination, (i) prior to the termination of the Domestic
Revolving Commitments, that Lender’s Domestic Revolving Commitment; and (ii)
after the termination of the Domestic Revolving Commitments, the sum of (a) the
aggregate outstanding principal amount of the Domestic Revolving Loans of that
Lender, (b) in the case of Issuing Bank, the aggregate Letter of Credit Usage
in respect of all Letters of Credit issued by that Lender (net of any
participations by Lenders in such Letters of Credit) to the U.S. Borrower, (c)
the aggregate amount of all participations by that Lender in any outstanding
Letters of Credit or any unreimbursed drawing under any Letter of Credit issued
to the U.S. Borrower, (d) in the case of Swing Line Lender, the aggregate
outstanding principal amount of all Swing Line Loans (net of any participations
therein by other Lenders) made to the U.S. Borrower, and (e) the aggregate
amount of all participations therein by that Lender in any outstanding Swing
Line Loans made to the U.S. Borrower.

“Domestic
Revolving Loan” means a Loan made by the Lenders in Dollars
to U.S. Borrower pursuant to Section 2.2(a).

“Domestic
Subsidiary” means any Subsidiary organized under the laws of
the United States of America, any State thereof or the District of Columbia.

“Domestic Tranche C Term Loan”
means a Loan made by the Lenders to U.S. Borrower pursuant to Section
2.1(a)(i).

“Domestic Tranche C Term Loan Commitment”
means the commitment of a Lender to make or otherwise fund a Domestic Tranche C
Term Loan and “Domestic Tranche C  Term Loan
Commitments” means such commitments of all Lenders in the
aggregate.  The amount of each Lender’s
Domestic Tranche C Term Loan Commitment, if any, is set forth on Appendix A-1,
in the schedule to its Lender Consent Letter with respect to a Continuing
Lender  or in the applicable Assignment
Agreement, subject to any adjustment or reduction pursuant to the terms and
conditions hereof.  The aggregate amount
of the Domestic Tranche C Term Loan Commitments as of the Effective Date is
$230,000,000.

“Domestic Tranche C Term Loan C Exposure”
means, with respect to any Lender, as of any date of determination, the
outstanding principal amount of the Domestic Tranche C Term Loans of such
Lender; provided, at any time prior to the making of the Domestic
Tranche C Term Loans, the Domestic Tranche C Term Loan Exposure of any Lender
shall be equal to such Lender’s Domestic Tranche C Term Loan Commitment.

 18
 

“Domestic Tranche C Term Loan Maturity Date”
means the earliest of (i) the seven year anniversary of the Effective Date and
(ii) the date that all Domestic Tranche C Term Loans shall become due and
payable in full hereunder, whether by acceleration or otherwise.

“Domestic Tranche C Term Loan Note”
means a promissory note in the form of Exhibit B-1, as it may be amended,
supplemented or otherwise modified from time to time.

“Dutch Asset Pledges” means
(a) each of the Dutch Pledge of Movable Assets, the Dutch Pledge of
Intercompany Receivables, the Dutch Pledge of Bank Accounts, Dutch Pledge of IP
Rights, Dutch Pledge of Insurance Claims and Dutch Pledge of Receivables each
dated as of the Effective Date, and (b) each other security agreement or asset
pledge agreement which may be executed and delivered from time to time by a
Dutch Obligor in favor of the Collateral Agent, pursuant to which such Dutch
Obligor grants a Lien to the Collateral Agent, for the ratable benefit of the
Secured Parties, on personal property owned by such Dutch Obligor to secure
such Dutch Obligor’s Guaranteed Obligations,  substantially in the form of Exhibit I-3,
as any of the foregoing may be amended, restated, supplemented or otherwise
modified from time to time.

“Dutch Collateral Documents”
means each of the following documents: 
(a) the Dutch Asset Pledges, (b) Dutch Share Pledges and (c) any
other document executed by Holdings or any of its Subsidiaries and governed by
the laws of The Netherlands pursuant to which such Person has pledged or
granted a Lien to secure any of the Obligations (to the extent specified
therein) or its Guaranteed Obligations, as any of the foregoing may be amended,
restated, supplemented or otherwise modified from time to time.

“Dutch Share Pledges” means
the Dutch Share Pledges dated as of the Effective Date, pursuant to which the
Capital Stock of Dutch Holdcos and Dutch OpCos are pledged in favor of the
Collateral Agent, for the ratable benefit of the Secured Parties, to secure the
Obligations of each Euro Borrower and each Foreign Guarantor pursuant to the
terms and subject to the conditions set forth herein (including, in particular,
the limitations set forth in Section 7.13).

“Dutch HoldCos” means
Audatex Holdings III B.V., EuroCo and EuroHoldco.

“Dutch Obligor” means each
Euro Borrower and each Foreign Guarantor incorporated or residing in the
Netherlands.

“Dutch OpCos” means Solera
Nederland B.V. (previously named ABZ Business Services Nederland B.V.), Cato
Berichtendienst B.V. and Audatex Network Services Netherlands B.V.

“Dutch
Pledge of Bank Accounts” means the Dutch Pledge of Bank Accounts dated as of the Effective
Date, executed by the Dutch Holdcos, Dutch OpCos and the Collateral Agent, as
amended, restated, supplemented or otherwise modified from time to time.

“Dutch
Pledge of Intercompany Receivables” means the Dutch Pledge of
Intercompany Receivables dated as of the Effective Date, executed by the Dutch
Holdcos, , 

 19
 

Dutch OpCos and the
Collateral Agent, as amended, restated, supplemented or otherwise modified from
time to time.

“Dutch
Pledge of IP Rights” means the Dutch Pledge of IP Rights
dated as of the Effective Date, executed by EuroCo, Solera Nederland B.V
(previously named ABZ Business Services Nederland B.V.) and Cato
Berichtendienst B.V. and the Collateral Agent, as amended, restated,
supplemented or otherwise modified from time to time.

“Dutch
Pledge of Insurance Claims” means the Dutch Pledge of
Insurance Claims dated as of the Effective Date, executed by the Dutch Holdcos,
Dutch OpCos and the Collateral Agent, as amended, restated, supplemented or otherwise
modified from time to time.

“Dutch
Pledge of Movable Assets” means the Dutch Pledge of Movable
Assets dated as of the Effective Date, executed by Dutch Holdcos, Dutch OpCos
and the Collateral Agent, as amended, restated, supplemented or otherwise modified
from time to time.

“Dutch
Pledge of Receivables” means the Dutch Pledge of Receivables
dated as of the Effective Date, executed by the Dutch Holdcos, Dutch OpCos and
the Collateral Agent, as amended, restated, supplemented or otherwise modified
from time to time.

“Effective
Date” means May 16, 2007, the date on which the conditions
precedent set forth in Section 3.3 shall have been satisfied or waived in
accordance with the terms hereof

“Effective
Date Certificate” means an Effective Date Certificate
substantially in the form of Exhibit G-1.

“Effective
Date Collateral Documents” means the Dutch Collateral
Documents, the Effective Date Swiss Collateral Document and the Effective Date
U.K. Security Agreements.

“Effective Date Swiss Collateral
Document” means the Restated Abstract Acknowledgement of Debt by Audatex Holding GmbH, substantially in the form of Exhibit I-6 of
the Credit Agreement, as
it may be amended, restated, supplemented or otherwise modified from time to
time.

“Effective Date U.K. Charge Over Shares”
means the charge over shares dated on or about the Effective Date substantially in the form contained in
Exhibit I-7 and entered into between Audatex Holding GmbH and the
Collateral Agent, pursuant to which Audatex Holding GmbH shall charge in favor
of the Collateral Agent, for the ratable benefit of the Secured Parties, the
Capital Stock of U.K. Obligor to secure the Obligations of the Euro Borrowers
and each Foreign Guarantor, as
amended, restated, supplemented or otherwise modified from time to time.

“Effective Date U.K. Debenture”
means the U.K. Debenture dated on or about the Effective Date substantially in the form contained in
Exhibit I-7 and entered into by the Collateral Agent and U.K. Obligor,
pursuant to which U.K. Obligor shall grant Liens and/or fixed or floating
charges to the Collateral Agent, for the ratable benefit of the Secured
Parties, on or over all of its assets and undertakings to secure its
Obligations (to the extent required by the

 20
 

U.K. Debenture) of the
Euro Borrowers and each Foreign Guarantor, as amended, restated, supplemented or otherwise modified from
time to time.

“Effective Date U.K. Security Agreements”
means, collectively, the Effective Date U.K. Charge Over Shares and the
Effective Date U.K. Debenture.

“Eligible
Assignee” means (i) any Lender, any Affiliate of any Lender
and any Related Fund (any two or more Related Funds being treated as a single
Eligible Assignee for all purposes hereof), and (ii) any commercial bank,
insurance company, investment or mutual fund or other fund or entity that is an
“accredited investor” (as defined in Regulation D under the Securities Act) and
which extends credit, buys or invests in loans, securities or other financial
assets; provided, no Affiliate of Holdings or Sponsor shall be an
Eligible Assignee.

“Employee
Benefit Plan” means any “employee benefit plan” as defined in
Section 3(3) of ERISA, other than a Multiemployer Plan, which is or was
sponsored, maintained or contributed to by, or required to be contributed by,
Holdings, any of its Subsidiaries or, with respect to employee benefit plans
for which Holdings or any of its Subsidiaries could have any actual or
potential liability, any of their respective ERISA Affiliates.

“Environmental
Claim” means any investigation, notice, notice of violation,
claim, action, suit, proceeding, demand, abatement order or other order or
directive (conditional or otherwise), by any Governmental Authority or any
other Person, arising (i) pursuant to or in connection with any actual or alleged
violation of any Environmental Law; (ii) in connection with any Hazardous
Material or any actual or alleged Hazardous Materials Activity; or (iii) in
connection with any actual or alleged damage, injury, threat or harm to health,
safety, natural resources or the environment.

“Environmental
Laws” means any and all current or future foreign or
domestic, federal or state (or any subdivision of either of them), statutes,
ordinances, orders, rules, regulations, judgments, Governmental Authorizations,
or any other requirements of Governmental Authorities relating to (i)
environmental matters, including those relating to any Hazardous Materials
Activity; (ii) the generation, use, storage, transportation or disposal of
Hazardous Materials; or (iii) occupational safety and health, industrial
hygiene, land use or the protection of human, plant or animal health or
welfare, in any manner applicable to Holdings or any of its Subsidiaries or any
Facility.

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

“ERISA
Affiliate” means, as applied to any Person, (i) any
corporation which is a member of a controlled group of corporations within the
meaning of Section 414(b) of the Internal Revenue Code of which that Person is
a member; (ii) any trade or business (whether or not incorporated) which is a
member of a group of trades or businesses under common control within the
meaning of Section 414(c) of the Internal Revenue Code of which that Person is
a member; and (iii) any member of an affiliated service group within the
meaning of Section 414(m) or (o) of the Internal Revenue Code of which that
Person, any corporation described in clause (i) above or any trade or business
described in clause (ii) above is a member. 
Any former

 21
 

ERISA Affiliate of
Holdings or any of its Subsidiaries shall continue to be considered an ERISA
Affiliate of Holdings or any such Subsidiary within the meaning of this
definition with respect to the period such entity was an ERISA Affiliate of
Holdings or such Subsidiary and with respect to liabilities arising after such
period for which Holdings or such Subsidiary could be liable under the Internal
Revenue Code or ERISA.

“ERISA
Event” means (i) a “reportable event” within the meaning of
Section 4043 of ERISA and the regulations issued thereunder with respect to any
Pension Plan (excluding those for which the provision for 30-day notice
to the PBGC has been waived by regulation); (ii) the failure to meet the
minimum funding standard of Section 412 of the Internal Revenue Code with
respect to any Pension Plan (whether or not waived in accordance with Section
412(d) of the Internal Revenue Code) or the failure to make by its due date a
required installment under Section 412(m) of the Internal Revenue Code with
respect to any Pension Plan or the failure to make any required contribution to
a Multiemployer Plan; (iii) the provision by the administrator of any Pension
Plan pursuant to Section 4041(a)(2) of ERISA of a notice of intent to terminate
such plan in a distress termination described in Section 4041(c) of ERISA; (iv)
the withdrawal by Holdings, any of its Subsidiaries or any of their respective
ERISA Affiliates from any Pension Plan with two or more contributing sponsors
or the termination of any such Pension Plan resulting in liability to Holdings,
any of its Subsidiaries or any of their respective Affiliates pursuant to
Section 4063 or 4064 of ERISA; (v) the institution by the PBGC of proceedings
to terminate any Pension Plan, or the occurrence of any event or condition
which might constitute grounds under ERISA for the termination of, or the
appointment of a trustee to administer, any Pension Plan; (vi) the imposition
of liability on Holdings, any of its Subsidiaries or any of their respective
ERISA Affiliates pursuant to Section 4062(e) or 4069 of ERISA or by reason of
the application of Section 4212(c) of ERISA; (vii) the withdrawal of Holdings,
any of its Subsidiaries or any of their respective ERISA Affiliates in a
complete or partial withdrawal (within the meaning of Sections 4203 and 4205 of
ERISA) from any Multiemployer Plan if there is any potential liability
therefore, or the receipt by Holdings, any of its Subsidiaries or any of their
respective ERISA Affiliates of notice from any Multiemployer Plan that it is in
reorganization or insolvency pursuant to Section 4241 or 4245 of ERISA, or that
it intends to terminate or has terminated under Section 4041A or 4042 of ERISA;
(viii) the occurrence of an act or omission which could give rise to the
imposition on Holdings, any of its Subsidiaries or any of their respective
ERISA Affiliates of fines, penalties, taxes or related charges under Chapter 43
of the Internal Revenue Code or under Section 409, Section 502(c), (i) or (l),
or Section 4071 of ERISA in respect of any Employee Benefit Plan; (ix) the
assertion of a material claim (other than routine claims for benefits) against
any Employee Benefit Plan other than a Multiemployer Plan or the assets
thereof, or against Holdings, any of its Subsidiaries or any of their
respective ERISA Affiliates in connection with any Employee Benefit Plan; (x)
receipt from the Internal Revenue Service of notice of the failure of any
Pension Plan (or any other Employee Benefit Plan intended to be qualified under
Section 401(a) of the Internal Revenue Code) to qualify under Section 401(a) of
the Internal Revenue Code, or the failure of any trust forming part of any
Pension Plan to qualify for exemption from taxation under Section 501(a) of the
Internal Revenue Code; (xi) the imposition of a Lien pursuant to Section
401(a)(29) or 412(n) of the Internal Revenue Code or pursuant to ERISA with
respect to any Pension Plan; or (xii) any event with respect to any Foreign
Plan which is similar to any event described in any of subsections (i) through
(xi) hereof.

 22
 

“Euro” and “€” means the single currency of the
Participating Member States.

“Euro Borrowers” as defined
in the preamble hereto.

“EuroHoldco” means Audatex
Holdings IV B.V., a company organized under the laws of The Netherlands.

“Euro Top Holdco” as defined
in the recitals hereto.

“Eurodollar
Rate Loan” means a Loan bearing interest at a rate determined
by reference to the Adjusted Eurodollar Rate.

“European Loans” means,
collectively, the European Revolving Loans and the European Term Loans.

“European Revolving Commitment” means the
commitment of a Lender to make or otherwise fund any European Revolving Loan
and “European Revolving Commitments”
means such commitments of all Lenders in the aggregate.  The amount of each Lender’s European
Revolving Commitment, if any, as of the Effective Date is the amount in Euro as
set forth in the Register or in the applicable Assignment Agreement.

“European
Revolving Exposure” means, with respect to any Lender as of
any date of determination, (i) prior to the termination of the European
Revolving Commitments, that Lender’s European Revolving Commitment; and (ii)
after the termination of the European Revolving Commitments, the sum of (a) the
aggregate outstanding principal amount of the European Revolving Loans of that
Lender, (b) in the case of Issuing Bank, the aggregate Letter of Credit Usage
in respect of all Letters of Credit issued by that Lender (net of any
participations by Lenders in such Letters of Credit) to the Euro Borrowers, (c)
the aggregate amount of all participations by that Lender in any outstanding
Letters of Credit or any unreimbursed drawing under any Letter of Credit issued
to the Euro Borrowers, (d) in the case of Swing Line Lender, the aggregate
outstanding principal amount of all Swing Line Loans (net of any participations
therein by other Lenders) made to the Euro Borrowers, and (e) the aggregate
amount of all participations therein by that Lender in any outstanding Swing
Line Loans made to the Euro Borrowers.

“European
Revolving Loan” means a Loan made by the Lenders to the Euro
Borrowers in Euro pursuant to Section 2.2(a).

“European Term Loans” means
the European Term Loan C1 and the European Terms Loan C2 collectively.

“European Term Loan C1” means a
Loan made by the Lenders to EuroCo in Euro pursuant to Section 2.1(a)(ii).

“European Term Loan C2” means a
Loan made by the Lenders to EuroHoldco in Euro pursuant to Section 2.1(a)(iii).

 23
 

“European Term Loan Commitments”
means the European Term Loan C1 Commitment and the European Term Loan C2
Commitment.  The aggregate amount of the
European Term Loan Commitments as of the Effective Date is €280,000,000.

“European Term Loan C1 Commitment”
means the commitment of a Lender to make or otherwise fund the European Term
Loan C1.  The amount of each Lender’s
European Term Loan C1 Commitment, if any, is the Foreign Currency Equivalent as
of the Effective Date of the amount set forth by such Lender’s name on Appendix
A-2, in the schedule to its Lender Consent Letter with respect to a Continuing
Lender or in the applicable Assignment Agreement, subject to any adjustment or
reduction pursuant to the terms and conditions hereof.  The aggregate amount of the European Term
Loan C1 Commitments as of the Effective Date is €52,080,000.

“European Term Loan C2 Commitment”
means the commitment of a Lender to make or otherwise fund the European Term
Loan C2.  The amount of each Lender’s
European Term Loan C2 Commitment, if any, is the Foreign Currency Equivalent as
of the Effective Date of the amount set forth by such Lender’s name on Appendix
A-2, in the schedule to its Lender Consent Letter with respect to a Continuing
Lender or in the applicable Assignment Agreement, subject to any adjustment or
reduction pursuant to the terms and conditions hereof. The aggregate amount of
the European Term Loan C2 Commitments as of the Effective Date is €227,920,000.

“European
Term Loan Exposure” means, with respect to any Lender as of
any date of determination, the outstanding principal amount of the European
Term Loans of such Lender; provided, at any time prior to the making of
the European Term Loans, the European Term Loan Exposure of any Lender shall be
equal to the aggregate of such Lender’s European Term Loan Commitments.

“European
Term Loan Maturity Date” means the earlier of (i) the seven year anniversary of the Effective
Date, and (ii) the date that all European Term Loans shall become due and
payable in full hereunder, whether by acceleration or otherwise.

“European
Term Loan C Note” means a promissory note in the form of
Exhibit B-2, as it may be amended, supplemented or otherwise modified from time
to time.

“Event
of Default” means each of the conditions or events set forth
in Section 8.1.

“Exchange
Act” means the Securities Exchange Act of 1934, as amended
from time to time, and any successor statute.

“Excluded Subsidiary” means
any Subsidiary (excluding Guarantors) which, together with its own
Subsidiaries, as consolidated in the consolidated financial statements of
Holdings, accounts for (i) less than 5% of the consolidated assets of Holdings
as of the last day of the most recently ended Fiscal Quarter and (ii) less than
5% of Consolidated Adjusted EBITDA of Holdings for the most recently ended
period of four consecutive Fiscal Quarters; provided, however,
that any Excluded Subsidiary may be designated a Guarantor pursuant to Section
5.10(b).

 24

“Existing Domestic Term Loans”
as defined in the recitals.

“Existing European Term Loans”
as defined in the recitals.

“Existing
European Term Loan A” means the European Term Loan A as
defined in the Existing First Lien Credit Agreement.

“Existing
European Term Loan B” means the European Term Loan B as
defined in the Existing First Lien Credit Agreement.

“Existing
European Term Loans” as defined in the recitals.

“Existing
First Lien Credit Agreement” as defined in the recitals.

“Existing
First Lien Lenders” means each financial institution that is
a “Lender” as defined in the Existing First Lien Credit Agreement.

“Existing
Holdco PIK Credit Agreement” as defined in the recitals.

“Existing Indebtedness”
means the Existing Term Loans and Indebtedness and other obligations
outstanding under the Existing Second Lien Credit Agreement and the Existing
Holdco PIK Agreement.

“Existing
Second Lien Credit Agreement” as defined in the recitals.

“Existing
Second Lien European Term Loan A” means the European Term
Loan A as defined in Existing Second Lien Credit Agreement.

“Existing
Second Lien European Term Loan B” means the European Term
Loan B as defined in Existing Second Lien Credit Agreement.

“Existing
Term Loans” as defined in the recitals.

“Existing Shareholder” means any of the Sponsor and the
members of management of Solera Holdings, Inc. and the Credit Parties that are
shareholders of Solera Holdings, Inc. as of the Effective Date.

“Facility”
means any real property (including all buildings, fixtures or other improvements
located thereon) now, hereafter or heretofore owned, leased, operated or used
by Holdings or any of its Subsidiaries or any of their respective predecessors
or Affiliates.

“Fair
Share Contribution Amount” as defined in Section 7.2.

“Fair
Share” as defined in Section 7.2.

“Federal
Funds Effective Rate” means for any day, the rate per annum
(expressed, as a decimal, rounded upwards, if necessary, to the next higher
1/100 of 1%) equal to the weighted average of the rates on overnight Federal
funds transactions with members of the Federal Reserve System arranged by
Federal funds brokers on such day, as published by the

 25
 

Federal Reserve Bank of
New York on the Business Day next succeeding such day; provided,
(i) if such day is not a Business Day, the Federal Funds Rate for such day
shall be such rate on such transactions on the next preceding Business Day as
so published on the next succeeding Business Day, and (ii) if no such rate is
so published on such next succeeding Business Day, the Federal Funds Rate for
such day shall be the average rate charged to Administrative Agent, in its
capacity as a Lender, on such day on such transactions as determined by
Administrative Agent.

“Financial
Officer Certification” means, with respect to the financial
statements for which such certification is required, the certification of the
chief financial officer of Holdings that such financial statements fairly
present, in all material respects, the financial condition of Holdings and its
Subsidiaries as at the dates indicated and the results of their operations and
their cash flows for the periods indicated, subject to changes resulting from
audit and normal year-end adjustments and, in the case of unaudited
financial statements, the absence of footnotes.

“Financial
Plan” as defined in Section 5.1(i).

“First
Priority” means, with respect to any Lien purported to be
created in any Collateral pursuant to any Collateral Document, that such Lien
ranks first in priority to all other Liens, other than any Permitted Lien that
is permitted to have higher priority.

“Fiscal
Quarter” means a fiscal quarter of any Fiscal Year.

“Fiscal
Year” means the fiscal year of Holdings and its Subsidiaries
ending on June 30 of each calendar year.

“Foreign
Credit Party” means any Credit Party, other than a Domestic
Credit Party.

“Foreign
Currency Equivalent” means, with respect to any amount
denominated in Dollars, on any date, the amount of Euro that may be purchased
with such amount of Dollars at the Spot Exchange Rate on such date.

“Foreign
Guarantors” means, on the date of this Agreement, each
Foreign Subsidiary of Holdings (other than a Domestic Guarantor) listed on the
signature pages of this Agreement and thereafter each Foreign Subsidiary of
Holdings (other than a Domestic Guarantor), other than Excluded Subsidiaries,
that signs a Counterpart Agreement or such other accession agreement to this
Agreement as a Foreign Guarantor accepted and agreed by, and in form and
substance reasonably satisfactory to, the Administrative Agent.  For the avoidance of doubt, Audatex Canada,
ULC shall be treated as a Domestic Guarantor, not a Foreign Guarantor.

“Foreign
Plan” means any employee benefit plan
maintained by Holdings or any of its Subsidiaries that is mandated or governed
by any law, rule or regulation of any Government Authority other than the
United States, any State thereof or any other political subdivision thereof.

“Foreign
Subsidiary” means any Subsidiary that is not
a Domestic Subsidiary.

“Funding
Default” as defined in Section 2.22.

 26
 

“Funding
Guarantors” as defined in Section 7.2.

“Funding
Notice” means a notice substantially in
the form of Exhibit A-1.

“GAAP”
means, subject to the limitations on the application thereof set forth in
Section 1.2, United States generally accepted accounting principles in effect
as of the date of determination thereof.

“German
Collateral Documents” means each of the following documents:
The share pledge agreements over the shares of ADP Business Services GmbH,
Audatex Daten Internationale Datenentwicklungs GmbH, ArgeMu Holding GmbH,
Exsoft GmbH, HADAKON Kommunikations Systeme GmbH, the security assignments of
receivables of all trade and intercompany receivables of ADP Business Services
GmbH, Audatex Daten Internationale Datenentwicklungs GmbH, ArgeMu Holding GmbH,
Exsoft GmbH and HADAKON Kommunkations Systeme GmbH, the account pledge
agreements relating to all bank accounts of ADP Business Services GmbH, Audatex
Daten Internationale Datenentwicklungs GmbH, ArgeMu Holding GmbH, Exsoft GmbH
and HADAKON Kommunikations Systeme, the Abstract Acknowledgement of Debt by
ArgeMu Holdings GmbH and the Abstract
Acknowledgement of Debt made by Audatex Holding GmbH, in each case substantially in the form of
Exhibit I-4 of the Existing First Lien Credit Agreement, as any of the foregoing
has been or may be amended, restated, supplemented or otherwise modified
from time to time.

“Governmental
Acts” means any act or omission, whether rightful or
wrongful, of any present or future de jure or de facto government or
Governmental Authority.

“Governmental
Authority” means any foreign or domestic,
federal, state, municipal, supranational, national or other government,
governmental department, commission, board, bureau, court, agency or
instrumentality or political subdivision thereof or any entity, officer or
examiner exercising executive, legislative, judicial, regulatory or
administrative functions of or pertaining to any government or any court, in
each case whether associated with a state of the United States, the United
States, or a foreign entity or government.

“Governmental
Authorization” means any permit, license,
authorization, plan, directive, consent order or consent decree of or from any
Governmental Authority.

“Grantor”  means a “Grantor” as defined in the Pledge and Security
Agreement or a “Chargor” as defined in the U.K. Collateral Documents or other
applicable Collateral Documents, or a “Pledgor” as defined in the Dutch
Collateral Documents.

“Group”
as defined in Schedule 1.1A.

“Guaranteed
Obligations” as defined in Section 7.1.

“Guarantor”
means each Domestic Guarantor and each Foreign Guarantor; provided, however,
the Euro Borrowers and each Foreign Subsidiary, other than any Foreign
Subsidiary of Holdings that is treated as a pass-through or disregarded entity
for United States federal income tax purposes and all of the Capital Stock of
which is directly owned by Holdings

 27
 

or one or more
Domestic Subsidiaries of Holdings, shall not be “Guarantors” of the Obligations
of the U.S. Borrower or any Domestic Guarantor).

“Guaranty”
means the guaranty of each Guarantor set forth in Section 7.

“Hazardous
Materials” means any chemical, material or
substance, exposure to which is prohibited, limited or regulated by any
Governmental Authority or which may or could pose a hazard to the health and
safety of the owners, occupants or any Persons in the vicinity of any Facility
or to the indoor or outdoor environment.

“Hazardous
Materials Activity” means any past,
current, proposed or threatened activity, event or occurrence involving any
Hazardous Materials, including the use, manufacture, possession, storage,
holding, presence, existence, location, Release, threatened Release, discharge,
placement, generation, transportation, processing, construction, treatment,
abatement, removal, remediation, disposal, disposition or handling of any
Hazardous Materials, and any corrective action or response action with respect
to any of the foregoing.

“Hedge
Agreement” means an Interest Rate Agreement entered into with
a Lender Counterparty in order to satisfy the requirements of this Agreement.

“Highest
Lawful Rate” means the maximum lawful
interest rate, if any, that at any time or from time to time may be contracted
for, charged, or received under the laws applicable to any Lender which are
presently in effect or, to the extent allowed by law, under such applicable
laws which may hereafter be in effect and which allow a higher maximum
nonusurious interest rate than applicable laws now allow.

“Holdings”
as defined in the preamble hereto.

“Increased
Amount Date” as defined in Section 2.24.

“Increased-Cost
Lenders” as defined in Section 2.23.

“Indebtedness,”
as applied to any Person, means, without duplication, (i) all indebtedness for
borrowed money; (ii) that portion of obligations with respect to Capital Leases
that is properly classified as a liability on a balance sheet in conformity
with GAAP; (iii) notes payable and drafts accepted representing extensions of
credit whether or not representing obligations for borrowed money; (iv) any
obligation owed for all or any part of the deferred purchase price of property
or services (excluding any such obligations incurred under ERISA), which
purchase price is (a) due (or remains unpaid) more than 120 days from the date
of incurrence of the obligation in respect thereof or (b) evidenced by a note
or similar written instrument; (v) all Indebtedness secured by any Lien on any
property or asset owned or held by that Person regardless of whether the
Indebtedness secured thereby shall have been assumed by that Person or is nonrecourse
to the credit of that Person; (vi) the face amount of any letter of credit
issued for the account of that Person or as to which that Person is otherwise
liable for reimbursement of drawings, or any similar reimbursement or
counter-indemnity obligations; (vii) the direct or indirect guaranty,
endorsement (otherwise than for collection or deposit in the ordinary course of
business), co-making, discounting with recourse or sale with recourse by
such Person of the obligation of another; (viii) any obligation of such Person
the primary purpose,

 28
 

intent or effect of which
is to provide assurance to an obligee that the obligation of the obligor
thereof will be paid or discharged, or any agreement relating thereto will be
complied with, or the holders thereof will be protected (in whole or in part)
against loss in respect thereof, or to raise finance for or on behalf of such
Person; (ix) any liability of such Person for an obligation of another through
any agreement (contingent or otherwise) (a) to purchase, repurchase or
otherwise acquire such obligation or any security therefor, or to provide funds
for the payment or discharge of such obligation (whether in the form of loans,
advances, stock purchases, capital contributions or otherwise) or (b) to
maintain the solvency or any balance sheet item, level of income or financial
condition of another if, in the case of any agreement described under
subclauses (a) or (b) of this clause (ix), the primary purpose, intent or
effect thereof is as described in clause (viii) above; and (x) all obligations
of such Person in respect of any exchange traded or over the counter derivative
transaction, including, without limitation, any Interest Rate Agreement and
Currency Agreement, whether entered into for hedging or speculative purposes; provided,
(A) deferred compensation arrangements,
(B) non-compete or consulting obligations incurred in connection with Permitted
Acquisitions, (C) earn-out obligations until such obligations are earned or
mature in accordance with GAAP, (D) deemed Indebtedness pursuant to FASB 133 or
150, (E) obligations under any Interest Rate Agreement and any Currency
Agreement or (F) intercompany Indebtedness permitted under Section 6.1(b),
shall only be deemed “Indebtedness” for purposes of Section 6.1 and not any
other purpose hereunder.

“Indemnified
Liabilities” means, collectively, any and all liabilities,
obligations, losses, damages (including natural resource damages), penalties,
claims (including Environmental Claims), actions, judgments, suits, costs
(including the costs of any investigation, study, sampling, testing, abatement,
cleanup, removal, remediation or other response action necessary to remove,
remediate, clean up or abate any Hazardous Materials Activity), expenses and
disbursements of any kind or nature whatsoever (including the reasonable
out-of-pocket fees and disbursements of counsel for Indemnitees in connection
with any investigative, administrative or judicial proceeding or hearing
commenced or threatened by any Person, whether or not any such Indemnitee shall
be designated as a party or a potential party thereto, and any out-of-pocket
fees or expenses incurred by Indemnitees in enforcing this indemnity), whether
direct, indirect or consequential and whether based on any federal, state or
foreign laws, statutes, rules or regulations (including securities and
commercial laws, statutes, rules or regulations and Environmental Laws), on
common law or equitable cause or on contract or otherwise, that may be imposed
on, incurred by, or asserted against any such Indemnitee, in any manner
relating to or arising out of (i) this Agreement or the other Credit Documents
or the transactions contemplated hereby or thereby (including the Lenders’
agreement to make Credit Extensions or the use or intended use of the proceeds
thereof, or any enforcement of any of the Credit Documents (including any sale
of, collection from, or other realization upon any of the Collateral or the
enforcement of the Guaranty)); or (ii) any Environmental Claim or any Hazardous
Materials Activity relating to or arising from, directly or indirectly, any
past or present activity, operation, land ownership, or practice of Holdings or
any of its Subsidiaries.

“Indemnitee”
as defined in Section 11.3.

“Installment” as defined in
Section 2.12.

 29
 

“Intellectual Property”
means the following that are owned by Holdings or any of its Subsidiaries: (i)
any patents, trade marks, service marks, designs, business names, copyrights,
design rights, moral rights, inventions, confidential information, know-how and
other intellectual property rights and interest, whether registered or
unregistered; and (ii) the benefit of applications to register and rights to
use the above.

“Intercompany Note” means a
promissory note or notes substantially in the form of Exhibit K evidencing
Indebtedness owed among the Credit Parties and their Subsidiaries.

“Interest
Payment Date” means with respect to (i) any Loan that is a
Base Rate Loan, each March 31, June 30, September 30 and December 31 of each
year, commencing on September 30, 2006 through the final maturity date of such
Loan; and (ii) any Loan that is a Eurodollar Rate Loan, the last day of each
Interest Period applicable to such Loan; provided, in the case of each
Interest Period of longer than three months “Interest Payment Date” shall also
include each date that is three months, or an integral multiple thereof, after
the commencement of such Interest Period

“Interest
Period” means, in connection with a Eurodollar Rate Loan, an
interest period of one-, two-, three- or six-months, or
to the extent acceptable to all applicable Lenders, nine- or twelve-months, in
each case as selected by Borrowers in the applicable Funding Notice or
Conversion/Continuation Notice, (i) initially, commencing on the Credit Date or
Conversion/Continuation Date thereof, as the case may be; and (ii) thereafter,
commencing on the day on which the immediately preceding Interest Period
expires; provided, (a) if an Interest Period would otherwise expire on a
day that is not a Business Day, such Interest Period shall expire on the next
succeeding Business Day unless no further Business Day occurs in such month, in
which case such Interest Period shall expire on the immediately preceding
Business Day; (b) any Interest Period that begins on the last Business Day of a
calendar month (or on a day for which there is no numerically corresponding day
in the calendar month at the end of such Interest Period) shall, subject to
clauses (c) and (d), of this definition, end on the last Business Day of a calendar
month; (c) no Interest Period with respect to any portion of any Class of Term
Loans shall extend beyond such Class’s Term Loan Maturity Date; and (d) no
Interest Period with respect to any portion of the Revolving Loans shall extend
beyond the Revolving Commitment Termination Date.

“Interest
Rate Agreement” means any interest rate swap agreement,
interest rate cap agreement, interest rate collar agreement, interest rate
hedging agreement or other similar agreement or arrangement, each of which is
for the purpose of hedging the interest rate exposure associated with Holdings’
and its Subsidiaries’ operations and not for speculative purposes.

“Interest
Rate Determination Date” means, with respect to any Interest
Period:  (i) if the currency is Euro, the
date that is two TARGET Days before the first day of that Interest Period and
(ii) if the currency is Dollars, the date that is two Business Days prior to
the first day of such Interest Period.

“Internal
Revenue Code” means the Internal Revenue Code of 1986, as
amended to the date hereof and from time to time hereafter, and any successor
statute.

 30
 

“Investment”
means (i) any direct or indirect purchase or other acquisition by Holdings or
any of its Subsidiaries of, or of a beneficial interest in, any of the
Securities of any other Person; (ii) any direct or indirect redemption,
retirement, purchase or other acquisition for value, by any Subsidiary of
Holdings from any Person (other than Holdings or any Domestic Guarantor), of
any Capital Stock of such Person; and (iii) any direct or indirect loan,
advance (other than advances to employees for moving, entertainment and travel
expenses, drawing accounts and similar expenditures in the ordinary course of
business) or capital contributions by Holdings or any of its Subsidiaries to
any other Person (other than Holdings or any Domestic Guarantor), including all
indebtedness and accounts receivable from such other Person that are not
current assets or did not arise from sales to such other Person in the ordinary
course of business.  The amount of any
Investment shall be the original cost of such Investment plus the cost of all
additions thereto, without any adjustments for increases or decreases in value,
or write-ups, write-downs or write-offs with respect to such
Investment.

“IP
Security Agreement” means
each IP Security Agreement, dated as of the Closing Date, by and among
Holdings, Borrower, Guarantor and Collateral Agent, as applicable.

“IPO Proceeds” as defined in the
recitals.

“Issuance
Notice” means an Issuance Notice substantially in the form of
Exhibit A-3.

“Issuing
Bank” means Citibank, N.A. as Issuing Bank hereunder,
together with its permitted successors and assigns in such capacity.

“Joinder
Agreement” means an agreement substantially in the form of
Exhibit L.

“Joint
Venture” means a joint venture, partnership or other similar
arrangement with a third party non-Affiliate, whether in corporate, partnership
or other legal form; provided, in no event shall any Subsidiary of any
Person be considered to be a Joint Venture to which such Person is a party.

“Landlord
Personal Property Collateral Access Agreement” means a
Landlord Waiver and Consent Agreement substantially in the form of Exhibit J
with such amendments or modifications as may be reasonably approved by
Collateral Agent.

“L/C Reserve Account” as defined
in Section 10.2.

“Lead
Arranger” as defined in the preamble hereto.

“Leasehold
Property” means any leasehold interest of any Credit Party as
lessee under any lease of real property where
Collateral having a fair market value in excess of $2,500,000 is located.

“Lender”
means each financial institution listed on the signature pages hereto as a
Lender, each Continuing Lender and any other Person that becomes a party hereto
pursuant to an Assignment Agreement.

 31
 

“Lender
Consent Letters” means the lender consent letters authorizing
the amendment and restatement of the Existing First Lien Credit Agreement and,
in the case of Continuing Lenders, agreeing to convert all or a portion of the
Existing Term Loans made by such Lender to Domestic Tranche C Term Loans or
European Term Loans hereunder, as applicable.

“Lender Counterparty” means each Lender, each Agent and each of their respective Affiliates
counterparty to a Hedge Agreement (including any Person who is an Agent or a
Lender (and any Affiliate thereof) as of the Closing Date or the Effective
Date, as the case may be, but subsequently, whether before or after entering
into a Hedge Agreement, ceases to be an Agent or a Lender, as the case may be)
including, without limitation, each such Affiliate that appoints the Collateral
Agent as its agent and agrees to be bound by the Credit Documents as a Secured
Party, subject to Section 9.8(c).

“Letter
of Credit” means a commercial or standby letter of credit
issued or to be issued by Issuing Bank pursuant to this Agreement.

“Letter
of Credit Sublimit” means the lesser of (i) $20,000,000 and
(ii) the aggregate unused amount of the Revolving Commitments then in effect.

“Letter
of Credit Usage” means, as at any date of determination, the
sum of (i) the maximum aggregate amount which is, or at any time
thereafter may become, available for drawing under all Letters of Credit then
outstanding, and (ii) the aggregate amount of all drawings under Letters of
Credit honored by Issuing Bank and not theretofore reimbursed by or on behalf
of a Borrower.

“Leverage Ratio” means the ratio as of the last day of any Fiscal Quarter of (i)
Consolidated Total Debt as of such day (net of (i) Cash and Cash Equivalents of
Holdings and its Subsidiaries held in accounts in which Holdings or such
Subsidiary has granted a Lien for the benefit of the Secured Parties pursuant
to a Collateral Document and
(ii) existing Indebtedness to the extent such Indebtedness is
cash-collateralized) to (ii) Consolidated Adjusted EBITDA for the four-Fiscal Quarter
period ending on such date.

“Lien”
means (i) any lien, mortgage, pledge, assignment, security interest, charge or
encumbrance of any kind (including any agreement to give any of the foregoing,
any conditional sale or other title retention agreement, and any lease or
license in the nature thereof) and any option, trust or other preferential
arrangement having the practical effect of any of the foregoing and (ii) in the
case of Securities, any purchase option, call or similar right of a third party
with respect to such Securities.

“Loan”
means a Domestic Loan, a European Loan, a Revolving Loan, a Swing Line Loan and
a New Term Loan.

“Local
Time” shall mean (a) with respect to a Loan or Letter of
Credit denominated in, or delivery of, Dollars, or notice with respect to any
Loan or Letter of Credit, New York City time, (b) with respect to the funding
with respect to a Loan or Letter of Credit denominated in, or delivery of,
Euro, London time.

 32
 

“Luxemburg Collateral Documents”
means mean any Collateral Document governed by Luxembourg law and concluded to
secure the Guaranteed Obligations under this Agreement, in particular a pledge
agreement over bank accounts of Audatex Holdings II S.à R.L., a pledge
agreement over all parts in Audatex Holdings II S.à R.L. and a pledge agreement
over receivables held by Audatex Holdings II S.à R.L, in each case, substantially in the form of Exhibit I-5 of the Existing First Lien Credit Agreement,
as any of the foregoing has been or may be amended, restated, supplemented or
otherwise modified from time to time.

“Mandatory
Cost” means the
percentage rate per annum calculated in accordance with Schedule 1.1B.

“Margin
Stock” as defined in Regulation U of the Board of Governors
as in effect from time to time.

“Material
Adverse Effect” means a material adverse effect on and/or
material adverse developments with respect to (i) the business, operations,
properties, assets or financial condition of Holdings and its Subsidiaries
taken as a whole (after taking into
account any applicable insurance and any applicable indemnification, to the
extent the relevant indemnitors and insurers have acknowledged coverage);
(ii) the ability of the Credit Parties, taken as a whole, to fully and timely
perform their Obligations; (iii) the legality, validity, binding effect or
enforceability against a Credit Party of a material Credit Document to which it
is a party; or (iv) the rights, remedies and benefits available to, or
conferred upon, any Agent and any Lender or any Secured Party under any
material Credit Document.

“Moody’s”
means Moody’s Investor Services, Inc.

“Minority Acquisition” means
any acquisition by a member of the Group of the entire issued share capital
(or, in respect of existing (non-wholly owned) members of the Group, existing
minority interests and joint ventures) not already owned by a member of the
Group if thereafter the non-wholly owned member of the Group, the company in
which the member of the Group held a minority interest or the joint venture
becomes a wholly-owned Subsidiary of Holdings.

“Multiemployer
Plan” means any employee benefit plan which is a “multiemployer
plan” as defined in Section 3(37) of ERISA.

“NAIC”
means The National Association of Insurance Commissioners, and any successor
thereto.

“Narrative
Report” means, with respect to the financial statements for
which such narrative report is required, a narrative report describing the
operations of Holdings and its Subsidiaries in the form prepared for
presentation to senior management thereof for the applicable Fiscal Quarter.

“Net Asset Sale Proceeds”
means, with respect to any Asset Sale (other than an Asset Sale consisting of
an operating lease (as determined in accordance with GAAP), where one or more
Borrowers or Guarantors is acting as lessor, entered into in the ordinary
course of business), an amount equal to: (i) Cash payments (including any Cash
received by way of

 33
 

deferred payment
pursuant to, or by monetization of, a note receivable or otherwise, but only as
and when so received) received by Holdings or any of its Subsidiaries from such
Asset Sale, minus (ii) any bona fide direct costs incurred in connection
with such Asset Sale, including (a) income or gains taxes payable by the seller
as a result of any gain recognized in connection with such Asset Sale and customary and reasonable fees,
legal fees, brokerage fees, commissions, costs and other expenses,
(b) payment of the outstanding principal amount of, premium or penalty, if
any, and interest on any Indebtedness (other than the Loans) that is secured by
a Lien on the stock or assets in question and that is required to be repaid
under the terms thereof as a result of such Asset Sale and (c) a reasonable
reserve for any indemnification payments (fixed or contingent) attributable to
seller’s indemnities and representations and warranties to purchaser in respect
of such Asset Sale undertaken by Holdings or any of its Subsidiaries in
connection with such Asset Sale.

“Net
Insurance/Condemnation Proceeds” means an amount equal
to:  (i) any Cash payments or proceeds
received by Holdings or any of its Subsidiaries (a) under any property or
casualty insurance policy in respect of a covered loss thereunder or (b) as a
result of the taking of any assets of Holdings or any of its Subsidiaries by
any Person pursuant to the power of eminent domain, condemnation or otherwise,
or pursuant to a sale of any such assets to a purchaser with such power under
threat of such a taking, minus (ii) (a) any actual and reasonable costs
incurred by Holdings or any of its Subsidiaries in connection with the
adjustment or settlement of any claims of Holdings or such Subsidiary in
respect thereof, (b) any bona fide direct costs incurred in connection with any
sale of such assets as referred to in clause (i)(b) of this definition,
including Taxes payable as a result of any gain recognized or otherwise in
connection therewith and (c) payment of the outstanding principal amount of,
premium or penalty, if any, and interest on any Indebtedness (other than the Loans)
that is secured by a Lien on the assets subject to the events described in
clauses (i)(a) and (b) above that is required to be repaid under the terms
thereof.

“New
Term Loan Commitments” as defined in Section 2.24.

“New
Term Loan Exposure” means, with respect to any Lender, as of
any date of determination, the outstanding principal amount of the New Term
Loans of such Lender.

“New
Term Loan Lender” as defined in Section 2.24.

“New
Term Loan Maturity Date” means the date that New Term Loans
of  a Series shall become due and payable
in full hereunder, as specified in the applicable Joinder Agreement, including
by acceleration or otherwise.

“New
Term Loans” as defined in Section 2.24.

“Nonpublic Information”
means information which has not been disseminated in a manner making it
available to investors generally, within the meaning of Regulation FD.

“Non-US
Lender” as defined in Section 2.20(d).

 34
 

“Non-US Participant” means
any participant that is not a United States Person (as such term is defined in
Section 7701(a)(30) of the Internal Revenue Code) for U.S. federal income tax
purposes.

“Note”
means a Domestic Tranche C Term Loan Note, a European Term Loan C Note, a
Revolving Loan Note or a Swing Line Note.

“Notice”
means a Funding Notice, an Issuance Notice, or a Conversion/ Continuation
Notice.

“Obligations”
means all obligations of every nature of each Credit Party, including
obligations from time to time owed to the Agents (including former Agents), the
Lenders or any of them and Lender Counterparties, under any Credit Document or
Hedge Agreement, whether for principal, interest (including interest which, but
for the filing of a petition in bankruptcy with respect to such Credit Party,
would have accrued on any Obligation, whether or not a claim is allowed against
such Credit Party for such interest in the related bankruptcy proceeding),
reimbursement of amounts drawn under Letters of Credit, payments for early
termination of Hedge Agreements, fees, expenses, indemnification or otherwise.

“Obligee
Guarantor” as defined in Section 7.7.

“Organizational
Documents” means (i) with respect to any corporation, its
certificate or articles of incorporation or organization, as amended, and its
by-laws, as amended, (ii) with respect to any limited partnership, its
certificate of limited partnership, as amended, and its partnership agreement,
as amended, (iii) with respect to any general partnership, its partnership
agreement, as amended, (iv) with respect to any limited liability company, its
articles of organization, as amended, and its operating agreement, as amended
and (v) with respect to any Foreign Subsidiary, the equivalent thereof in its
jurisdiction of incorporation or organization. 
In the event any term or condition of this Agreement or any other Credit
Document requires any Organizational Document to be certified by a secretary of
state or similar governmental official including an official of a non-U.S.
government, the reference to any such “Organizational Document” shall only be
to a document of a type customarily certified by such governmental official in
such official’s relevant jurisdiction.

“Original
Currency” as defined in Section 11.23(a).

“Other
Currency” as defined in Section 11.23(a).

“Participant”
as defined in Section
11.6(g).

“Participating Member State”
means any member state of the European Community that adopt or has adopted the
Euro as its lawful currency in accordance with the legislation of the European
Community relating to economic and monetary union.

“PBGC”
means the Pension Benefit Guaranty Corporation or any successor thereto.

 35
 

“Pension
Plan” means any Employee Benefit Plan, other than a
Multiemployer Plan, which is subject to Section 412 of the Internal Revenue
Code or Section 302 of ERISA.

“Permitted
Acquisition” means any acquisition by Borrowers or any
Guarantors, whether by purchase, merger or otherwise, of all or substantially
all of the assets of, all of the Capital Stock of, or a business line or unit
or a division of, any Person; provided,

(i)            immediately
prior to, and after giving effect thereto, no Default or Event of Default shall
have occurred and be continuing or would result therefrom;

(ii)           all
transactions in connection therewith shall be consummated, in all material
respects, in accordance with all applicable laws and in conformity with all
applicable Governmental Authorizations;

(iii)          in the case of the acquisition of Capital
Stock (other than Joint Ventures permitted under Section 6.7(h)), all of the
Capital Stock (except for any such Securities in the nature of directors’
qualifying shares required pursuant to applicable law) acquired or otherwise
issued by such Person or any newly formed Subsidiary of a Borrower in
connection with such acquisition shall be owned 100% by such Borrower or a
Guarantor thereof, and such Borrower shall have taken, or caused to be taken,
as of the date such Person becomes a Subsidiary of such Borrower, each of the
actions set forth in Sections 5.10 and/or 5.11, as applicable;

(iv)          Holdings
and its Subsidiaries shall be in compliance with the financial covenants set
forth in Section 6.8(a) and (b) on a pro forma basis after giving effect to
such acquisition as of the last day of the Fiscal Quarter most recently ended
for which a Compliance Certificate has been delivered (as determined in accordance
with the second proviso of the definition of Consolidated Adjusted EBITDA);

(v)           Borrowers
shall have delivered to Administrative Agent (A) at least 10 Business Days
prior to such proposed acquisition, (i) if requested by the Administrative
Agent, a Compliance Certificate evidencing compliance with Section 6.8 as
required under clause (iv) above and (ii) all other relevant financial
information with respect to such acquired assets, including, without
limitation, the aggregate consideration for such acquisition and any other
information required to demonstrate compliance with Section 6.8 and (B)
promptly upon reasonable request by Administrative Agent, (i) a copy of the
draft purchase agreement related to the proposed Permitted Acquisition (and any
related documents reasonably requested by Administrative Agent) and (ii) any
available quarterly and annual financial statements of the Person whose Capital
Stock or assets are being acquired for the twelve (12) month period ending 45
days immediately prior to such proposed Permitted Acquisition, including any
audited financial statements that are available;

(vi)          any
Person or assets or division as acquired in accordance herewith (x) shall be in
same business or lines of business or
substantially related or complementary to such line of business in which
Holdings and/or its Subsidiaries are engaged as of the Closing Date and (y)
when considered in connection with each

 36
 

Guarantor’s obligations
under the Credit Documents, does not result in such Guarantor’s contravention
of any applicable financial assistance rules;

(vii)         [reserved]; and

(viii)        except in the case of a Permitted Acquisition
for which the purchase price does not exceed $50,000,000 and Minority
Acquisitions, the Borrowers shall have delivered to the Administrative Agent
any information reasonably requested by the Administrative Agent.

Notwithstanding the foregoing, an acquisition consummated by
Borrowers or any Guarantor that does not meet all or any of the criteria under
(i) through (viii) herein shall nonetheless be a “Permitted Acquisition”
hereunder to the extent the Requisite Lenders have approved such acquisition.

“Permitted
Liens” means each of the Liens permitted pursuant to Section
6.2.

“Person”
means and includes natural persons, corporations, limited partnerships, general
partnerships, limited liability companies, limited liability partnerships,
joint stock companies, Joint Ventures, associations, companies, trusts, banks,
trust companies, land trusts, business trusts or other organizations, whether
or not legal entities, and Governmental Authorities.

“Platform” as defined in
Section 5.1(p).

“Pledge
and Security Agreement” means the Pledge and Security
Agreement executed by U.S. Borrower and each Domestic Guarantor (other than a
Canadian Guarantor) on the Closing Date substantially in the form of Exhibit
I-1 attached to the Existing First Lien Credit Agreement, as it has been or may
be amended, supplemented or otherwise modified from time to time.

“Prime
Rate” means the rate of interest quoted in The Wall Street Journal, Money Rates
Section as the Prime Rate (currently defined as the base rate on corporate
loans posted by at least 75% of the nation’s thirty (30) largest banks), as in
effect from time to time.  The Prime Rate
is a reference rate and does not necessarily represent the lowest or best rate
actually charged to any customer.  Any
Agent or any other Lender may make commercial loans or other loans at rates of
interest at, above or below the Prime Rate.

“Principal
Office” means, for each of Administrative Agent, Swing Line
Lender and Issuing Bank, such Person’s “Principal Office” as set forth on
Appendix B, or such other office or office of a third party or sub-agent, as
appropriate, as such Person may from time to time designate in writing to Borrower,
Administrative Agent and each Lender.

“Professional
Services Agreement” means the Professional Services
Agreement, dated as of April 1, 2005, by and between GTCR Golder Rauner II,
L.L.C. and Solera.

“Projections”
as defined in Section 4.8.

 37

“Pro Rata Share”
means (i) with respect to all payments, computations and other matters relating
to the Domestic Tranche C Term Loan of any Lender, the percentage obtained by
dividing (a) the Domestic Tranche C Term Loan Exposure of that Lender by (b)
the aggregate Domestic Tranche C Term Loan Exposure of all Lenders; (ii) with
respect to all payments, computations and other matters relating to the
European Term Loan of any Lender, the percentage obtained by dividing (a) the
European Term Loan Exposure of that Lender by (b) the aggregate European Term
Loan Exposure of all Lenders, (iii) with respect to all payments, computations
and other matters relating to the Domestic Revolving Commitment or Domestic
Revolving Loans of any Lender or any Letters of Credit issued to the U.S.
Borrower or participations purchased therein by any Lender or any
participations in any Swing Line Loans made to the U.S. Borrower and purchased
by any Lender, the percentage obtained by dividing (a) the Domestic Revolving
Exposure of that Lender by (b) the aggregate Domestic Revolving Exposure of all
Lenders and (iv) with respect to all payments, computations and other matters
relating to the European Revolving Commitment or European Revolving Loans of
any Lender or any Letters of Credit issued to a Euro Borrower or participations
purchased therein by any Lender or any participations in any Swing Line Loans
made to a Euro Borrower and purchased by any Lender, the percentage obtained by
dividing (a) the European Revolving Exposure of that Lender by (b) the
aggregate European Revolving Exposure of all Lenders.  For all other purposes with respect to each
Lender, “Pro Rata Share” means the percentage obtained by dividing (A) amount
equal to the sum of the Domestic Tranche C Term Loan Exposure, the European
Term Loan Exposure, the Domestic Revolving Exposure and the European Revolving
Exposure of that Lender, by (B) an amount equal to the sum of the aggregate
Domestic Tranche C Term Loan Exposure, the aggregate European Term Loan
Exposure, the aggregate Domestic Revolving Exposure and the aggregate European
Revolving Exposure of all Lenders.

“Qualifying IPO”
means an underwritten primary public offering (other than a public offering
pursuant to a registration statement on Form S-8 (or any successor form)) of
the common stock of Solera Holdings,
Inc. or one or more of its Subsidiaries (i) pursuant to (1) an effective
registration statement filed with the United States Securities and Exchange
Commission in accordance with the Securities Act (whether alone or in
conjunction with a secondary public offering), (2) a successful application
being made for the admission of any part of the share capital of Solera
Holdings, Inc. or one or more of its Subsidiaries to the “Official List” of the
UK Listing Authority and the admission of any part of the common stock of Solera
Holdings, Inc. or one or more of its Subsidiaries to trading on the London
Stock Exchange plc or in or on any exchange or market replacing the same or any
other national exchange or market in any country, or (3)  the grant of permission to deal in any part
of the common stock of any Solera Holdings, Inc. or one or more of its
Subsidiaries on the Alternative Investment Market or the European Acquisition
of Securities Dealers Automated Quotation System or on any recognized
investment exchange (as that term is used in the Financial Services and Markets
Act 2000) or in or on any exchange or market replacing the same or any other
national exchange or market in any country and (ii) resulting in gross proceeds
received by Solera Holdings, Inc. or one or more of its Subsidiaries of at
least $100,000,000.

“Quebec Security Documents” means
the deed of hypothec, the debenture and the pledge of debenture granted by any
Credit Party under the laws of the Province of Quebec, as such documents may be
amended, restated, supplemented or otherwise modified from time to time.

 38
 

“Real Estate Asset”
means, at any time of determination, any interest (fee, leasehold or otherwise)
then owned by any Credit Party in any real property.

“Reference Banks” means, the
principal office in Frankfurt of Citigroup Global Markets Deutschland or such
other banks as may be appointed by the Administrative Agent in consultation
with Holdings.

“Refunded Swing Line Loans”
as defined in Section 2.3(b)(iv).

“Register” as
defined in Section 2.7(b).

“Registration Rights Agreement”
means that certain Registration Rights Agreement, dated as of April 1, 2005, by
and among Solera Holdings, Inc., GTCR Fund VIII, L.P., a Delaware limited
partnership, GTCR Fund VIII/B, L.P., a Delaware limited partnership, GTCR
Co-Invest II, L.P., a Delaware limited partnership, and the other persons named
as parties therein from time to time.

“Regulation D”
means Regulation D of the Board of Governors, as in effect from time to time.

“Regulation FD” means Regulation
FD as promulgated by the US Securities and Exchange Commission under the
Securities Act and Exchange Act as in effect from time to time.

“Reimbursement Date”
as defined in Section 2.4(d).

“Related Agreements”
means the Acquisition Agreement and each other document and instrument executed
with respect thereto.

“Related Fund”
means, with respect to any Lender that is an investment fund, any other
investment fund that invests in commercial loans and that is managed or advised
by the same investment advisor as such Lender or by an Affiliate of such
investment advisor.

“Release” means any
release, spill, emission, leaking, pumping, pouring, injection, escaping,
deposit, disposal, discharge, dispersal, dumping, leaching or migration of any
Hazardous Material into the indoor or outdoor environment (including the
abandonment or disposal of any barrels, containers or other closed receptacles
containing any Hazardous Material), including the movement of any Hazardous Material
through the air, soil, surface water or groundwater.

“Replacement Lender”
as defined in Section 2.23.

“Required Prepayment Date”
as defined in Section 2.15(c).

“Requisite Lenders” means one or more Lenders having or holding
Domestic Tranche C Term Loan Exposure, European Term Loan Exposure, Domestic
Revolving Exposure and/or European Revolving Exposure representing more than
50% of the sum of (i) the aggregate Domestic Tranche C Term Loan Exposure of
all Lenders, (ii) the aggregate European Term Loan 

 39
 

Exposure of all Lenders, (iii) the aggregate Domestic Revolving
Exposure of all Lenders and (iv) the aggregate European Revolving Exposure of
all Lenders.

“Requisite Revolving Lenders” means one or more Lenders having or holding
Domestic Revolving Exposure and/or European Revolving Exposure representing
more than 50% of the sum of (i) Domestic Revolving Exposure of all Lenders and
(ii) the aggregate European Revolving Exposure of all Lenders.

“Reservations” means anything disclosed by any of the legal opinions
delivered to the Administrative Agent pursuant to Section 3.1.

“Restricted Junior Payment”
means (i) any dividend or other distribution, direct or indirect, on account of
any shares of any class of stock of Holdings or Borrowers now or hereafter outstanding,
except a dividend payable solely in shares of that class of stock to the
holders of that class; (ii) any redemption, retirement, sinking fund or similar
payment, purchase or other acquisition for value, direct or indirect, of any
shares of any class of stock of Holdings or Borrowers now or hereafter
outstanding, except in a Cash-free, tax-free reorganization; (iii) any payment
made to retire, or to obtain the surrender of, any outstanding warrants,
options or other rights to acquire shares of any class of stock of Holdings or
Borrowers now or hereafter outstanding; (iv) management or similar fees payable
to Sponsor or any of its Affiliates  and (v) any
payment or prepayment of principal of, premium, if any, or interest on, or
redemption, purchase, retirement, defeasance (including in-substance or
legal defeasance), sinking fund or similar payment with respect to, any
Indebtedness incurred pursuant to Section 6.1(s) or (v).

“Restriction” as defined in
Section 2.14(g).

“Revolving Commitment”
means the aggregate of the Domestic Revolving Commitments and the European
Revolving Commitments.  The aggregate
amount of the Revolving Commitments (including the Dollar amount of the
European Revolving Commitments) as of the Effective Date is $50,000,000.

“Revolving Commitment Period”
means the period from the Closing Date to but excluding the Revolving
Commitment Termination Date.

“Revolving Commitment Termination
Date” means the earliest to occur of (i)  the sixth
anniversary of the Closing Date, (ii) the date the Revolving Commitments are
permanently reduced to zero pursuant to Section 2.13(b) or 2.14 and (iii) the
date of the termination of the Revolving Commitments pursuant to Section 8.1.

“Revolving Loan”
means a Domestic Revolving Loan or a European Revolving Loan, as applicable,
and “Revolving Loans” means the Domestic
Revolving Loans and European Revolving Loans, collectively.

“Revolving Loan Note”
means a promissory note in the form of Exhibit B-3, as it may be amended,
supplemented or otherwise modified from time to time.

“S&P” means
Standard & Poor’s Ratings Group, a division of The McGraw Hill Corporation.

 40
 

“Secured Parties”
has the meaning assigned to that term in the applicable Collateral Document.

“Securities” means
any stock, shares, partnership interests, voting trust certificates,
certificates of interest or participation in any profit-sharing agreement
or arrangement, options, warrants, bonds, debentures, notes, or other evidences
of indebtedness, secured or unsecured, convertible, subordinated or otherwise,
or in general any instruments commonly known as “securities” or any
certificates of interest, shares or participations in temporary or interim
certificates for the purchase or acquisition of, or any right to subscribe to,
purchase or acquire, any of the foregoing.

“Securities Act”
means the Securities Act of 1933, as amended from time to time, and any
successor statute.

“Sellers” means each of Automatic Data Processing, Inc., ADP Atlantic
Inc., ADP Nederland B.V., ADP International B.V., ADP Canada Co. and ADP
Private Limited.

“Senior Management Agreement” as defined in the Existing First Lien Credit Agreement.

“Series” as defined
in Section 2.24.

“Solvency Certificate” means
a Solvency Certificate of the chief financial officer of Holdings substantially
in the form of Exhibit G-2.

“Solvent” means,
means, with respect to all Credit Parties, taken as a whole, that as of the
date of determination, (a) the sum of the Credit Parties’ debt (including
contingent liabilities) does not exceed the present fair saleable value, taken
on a going concern basis of such Credit Parties’ present assets; (b) such
Credit Parties’ capital is not unreasonably small in relation to its business
as contemplated on the Effective Date and reflected in the Projections or with
respect to any transaction contemplated or undertaken after the Effective Date;
and (c) the Credit Parties have not incurred and do not intend to incur, or
believe (nor should they reasonably believe) that they will incur, debts beyond
their ability to pay such debts as they become due (whether at maturity or
otherwise), in each case, as determined exclusively under the Bankruptcy Code,
including judicial and administrative interpretation thereunder.  For purposes of this definition, the amount
of any contingent liability at any time shall be computed as the amount that,
in light of all of the facts and circumstances existing at such time,
represents the amount that can reasonably be expected to become an actual or
matured liability (irrespective of whether such contingent liabilities meet the
criteria for accrual under Statement of Financial Accounting Standard No. 5).

“Solera” means Solera, Inc., a Delaware corporation
and an indirect Subsidiary of Holdings.

“Sponsor” means
GTCR Fund VIII, L.P. and its Affiliates.

“Spot Exchange Rate”
means, at any date of determination thereof, the spot rate of exchange in
London that appears on the display page applicable to the relevant currency on 

 41
 

the Bridge’s Telerate Service (or such
other page as may replace such page on such service for the purpose of
displaying the spot rate of exchange in London for the conversion of Dollars
into Euros or Euros into Dollars); provided that if there shall at any
time no longer exist such a page on such service, the spot rate of exchange
shall be determined by reference to another similar rate publishing service
selected by the Administrative Agent and reasonably acceptable to the
Borrowers.

“Subsidiary” means,
with respect to any Person, any corporation, partnership, limited liability
company, association, joint venture or other business entity of which more than
50% of the total voting power of shares of stock or other ownership interests
entitled (without regard to the occurrence of any contingency) to vote in the
election of the Person or Persons (whether directors, managers, trustees or
other Persons performing similar functions) having the power to direct or cause
the direction of the management and policies thereof is at the time owned or
controlled, directly or indirectly, by that Person or one or more of the other
Subsidiaries of that Person or a combination thereof; provided, in
determining the percentage of ownership interests of any Person controlled by
another Person, no ownership interest in the nature of a “qualifying share” of
the former Person shall be deemed to be outstanding.

“Swing Line Lender”
means CUSA in its capacity as Swing Line Lender hereunder, together with its
permitted successors and assigns in such capacity.

“Swing Line Loan”
means a Loan made by Swing Line Lender to a Borrower pursuant to Section 2.3.

“Swing Line Note”
means a promissory note in the form of Exhibit B-4, as it may be amended,
supplemented or otherwise modified from time to time.

“Swing Line Sublimit”
means the lesser of (i) $10,000,000 and (ii) the aggregate unused amount of
Revolving Commitments then in effect.

“Swiss
Collateral Documents” means each of the following documents: the share pledge agreement over
the shares in Audatex Holding GmbH; the share pledge agreement over the shares
in each Audatex GmbH, Audatex (Schweiz) GmbH and Audatex Systems GmbH; the
fiduciary assignment agreement and declaration of assignment regarding certain
assets and claims of Audatex Holding GmbH, Audatex GmbH, Audatex (Schweiz) GmbH
and Audatex Systems GmbH; the pledge agreement regarding intellectual property
rights of Audatex Holding GmbH, Audatex GmbH, Audatex (Schweiz) GmbH and
Audatex Systems GmbH; the trademark pledge regarding trademarks of each Audatex
Holding GmbH, Audatex GmbH, Audatex (Schweiz) GmbH and Audatex Systems GmbH;
all substantially in the form of Exhibit I-6 of the Existing First Lien Credit
Agreement, the Effective Date Swiss Collateral Document, and any other document
executed by Holdings or any of its Subsidiaries and governed by the laws of
Switzerland pursuant to which such person has granted a Lien to secure any of
the Secured Obligations (as defined therein),
as any of the foregoing has been or may be amended, restated,
supplemented or otherwise modified from time to time.

“Syndication Agent”
as defined in the preamble hereto.

 42
 

“TARGET Day” means
any day on which the Trans-European Automated Real-time Gross Settlement
Express Transfer payment system is open for settlement of payments in Euro.

“Tax” means any
present or future tax, levy, impost, duty, assessment, charge, fee, deduction
or withholding of any nature and whatever called, by whomsoever, on whomsoever
and wherever imposed, levied, collected, withheld or assessed including any
interest, additions to tax or penalties applicable thereto; provided, “Tax on the overall net income” of a Person shall be
construed as a reference to a tax imposed by the jurisdiction in which that
Person is organized or resident or in which that Person’s applicable principal
office (and/or, in the case of a Lender, its lending office) is located on the
overall net income, profits or gains of that Person (and/or, in the case of a
Lender, its applicable lending office).

“Tax Distributions” as defined in Section 6.5(c).

“Term Loan” means a
Domestic Tranche C Term Loan or a European Term Loan.

“Term Loan Commitment”
means the Domestic Tranche C Term Loan Commitment or the European Term Loan
Commitment, as applicable, and “Term Loan
Commitments” means such commitments of all Lenders.

“Term Loan Maturity Date”
means the latest of the Domestic Tranche C Term Loan Maturity Date or the
European Term Loan Maturity Date.

“Term Loan Note”
means a Domestic Tranche C Term Loan Note or a European Term Loan C Note, as
applicable.

“Terminated Lender”
as defined in Section 2.23.

“Total Utilization of Revolving
Commitments” means, as at any date of determination, the sum
of (i) the aggregate principal amount of all outstanding Revolving Loans as of
such date (other than Revolving Loans made for the purpose of repaying any
Refunded Swing Line Loans or reimbursing Issuing Bank for any amount drawn
under any Letter of Credit, but not yet so applied), (ii) the aggregate
principal amount of all outstanding Swing Line Loans as of such date and (iii)
the Letter of Credit Usage.

“Transaction Costs”
means the fees, costs and expenses payable by Holdings, the borrower under the
Existing Holdco PIK Agreement, Borrowers or any of Borrowers’ Subsidiaries on
or before the Effective Date in connection with the transactions contemplated
by the Credit Documents, the Existing Indebtedness and the Related Agreements.

“Type of Loan”
means (i) with respect to either Term Loans or Revolving Loans, a Base Rate
Loan or a Eurodollar Rate Loan, and (ii) with respect to Swing Line Loans, a
Base Rate Loan.

“UCC” means the
Uniform Commercial Code (or any similar or equivalent legislation) as in effect
in any applicable jurisdiction.

 43
 

“U.K. Charge Over Shares” means
the charge over shares dated on or about the Closing Date substantially in the form of Exhibit I-7 to
the Existing First Lien Credit Agreement and entered into between
Audatex Holding GmbH and the Collateral Agent, pursuant to which Audatex
Holding GmbH charged in favor of the Collateral Agent, for the ratable benefit
of the Secured Parties, the Capital Stock of U.K. Obligor to secure the
Obligations of the Euro Borrowers and each Foreign Guarantor.

“U.K. Debenture” means the U.K.
Debenture dated on or about the Closing Date, entered into by the Collateral
Agent and U.K. Obligor, pursuant to which U.K. Obligor granted Liens and/or
fixed or floating charges to the Collateral Agent, for the ratable benefit of
the Secured Parties, on or over all of its assets and undertakings to secure
its Obligations (to the extent required by the U.K. Debenture) of the Euro
Borrowers and each Foreign Guarantor, as
amended, restated, supplemented or otherwise modified from time to time.

“U.K. Obligor” means Audatex
(UK) Limited, a company incorporated in England and Wales with registered
number 0205856.

“U.K. Security Agreements”
means, collectively, the U.K. Charge Over Shares, the U.K. Debenture, the
Effective Date U.K. Charge Over Shares and the Effective Date U.K. Debenture.

“Unadjusted Eurodollar Rate Component”
means that component of the interest costs to a Borrower in respect of a
Eurodollar Rate Loan that is based upon the rate obtained pursuant to clause
(i) of the definition of Adjusted Eurodollar Rate.

“Unit Purchase Agreement”
means that certain Unit Purchase Agreement, dated as of April 1, 2005, by and among
Solera Holdings, Inc., GTCR Fund VIII, L.P., a Delaware limited partnership,
GTCR Fund VIII/B, L.P., a Delaware limited partnership, GTCR Co-Invest II,
L.P., a Delaware limited partnership, and the other persons named as parties
therein from time to time, as such agreement is amended on or around the
Closing Date.

“Unpaid Drawing” as defined in
Section 10.2.

“U.S. Borrower” as defined in
the preamble hereto.

1.2.   Accounting
Terms.  Except
as otherwise expressly provided herein, all accounting terms not otherwise
defined herein shall have the meanings assigned to them in conformity with
GAAP.  Financial statements and other
information required to be delivered by Holdings to Lenders pursuant to Section
5.1(a), 5.1(b) and 5.1(c) shall be prepared in accordance with GAAP as in
effect at the time of such preparation. 
In the event that any Accounting Change (as defined below) results in a
change in the method of calculation of financial covenants, standards or terms in
this Agreement, then the Borrowers and the Administrative Agent agree to enter
into good faith negotiations in order to amend such provisions of this
Agreement so as to equitably reflect such Accounting Change with the desired
result that the criteria for evaluating the Borrowers’ financial condition
shall be the same after such Accounting Change as if such Accounting Change had
not been made.  Until such time as such
an amendment shall have been executed and delivered by the Borrowers and the
Requisite Lenders, all financial covenants, standards and terms in this
Agreement shall continue to be calculated or construed as if such Accounting 

 44
 

Change had not occurred.  “Accounting Change” refers to any change in
accounting principles required by the promulgation of any rule, regulation,
pronouncement or opinion by the Financial Accounting Standards Board of the
American Institute of certified Public Accountants or, if applicable,  the
U.S. Securities and Exchange Commission (or successors thereto or
agencies with similar functions) and any European equivalent accounting
standards board.

1.3.   Interpretation,
etc.  Any of the
terms defined herein may, unless the context otherwise requires, be used in the
singular or the plural, depending on the reference.  References herein to any Section, Appendix,
Schedule or Exhibit shall be to a Section, an Appendix, a Schedule or an
Exhibit, as the case may be, hereof unless otherwise specifically
provided.  The use herein of the word “include”
or “including”, when following any general statement, term or matter, shall not
be construed to limit such statement, term or matter to the specific items or
matters set forth immediately following such word or to similar items or
matters, whether or not non-limiting language (such as “without limitation” or “but
not limited to” or words of similar import) is used with reference thereto, but
rather shall be deemed to refer to all other items or matters that fall within
the broadest possible scope of such general statement, term or matter.  References to the “Lead Arranger,”
any “Agent,” the “Collateral
Agent,” any “Credit Party,” any “Lender,” any “obligor,” any “Party”
or any other persons shall be construed so as to include successors in title,
permitted assigns and permitted transferees. 
References to “assets”
includes present and future properties, revenues and rights of every
description. References to a “Credit Document”
or any other agreement or instrument is a reference to that Credit Document or
other agreement or instrument as amended, novated, supplemented, extended or
restated, strictly in accordance with the terms thereof.  This Agreement restates and replaces, in its
entirety, the Existing First Lien Credit Agreement; any reference in any of the
other Credit Documents to the Existing First Lien Credit Agreement (however
defined) shall mean this Agreement.  The
terms lease and license shall include sub-lease and sub-license, as applicable.

SECTION
2.   LOANS AND LETTERS OF CREDIT

2.1.   Term
Loans.

(a)    Loan Commitments. 
Subject to the terms and conditions hereof,

(i)        (x) each applicable Continuing
Lender severally agrees that the Existing Domestic Term Loans made by such
Continuing Lender under the Existing First Lien Credit Agreement shall remain
outstanding on an after the Effective Date as “Domestic Tranche C Term Loans”
made pursuant to this Agreement in the same pro rata amount of such Continuing
Lender’s Pro Rata Share of the Existing Domestic Term Loans and such Existing
Domestic Term Loans shall on and after the Effective Date have all of the
rights and benefits of Domestic Tranche C Term Loans as set forth in this
Agreement and the other Credit Documents and (y) each Lender having a Domestic
Tranche C Term Loan Commitment (other than a Continuing Lender except with
respect to any amount of Domestic Tranche C Term Loan Commitment of such
Continuing Lender in excess of the amount converted from Existing Domestic Term
Loans pursuant to clause (i)(x) above) severally agrees to lend to the U.S.
Borrower in Dollars on the Effective Date, a 

 45
 

Domestic
Tranche C Term Loan in an amount equal to such Lender’s Tranche C Term Loan
Commitment;

(ii)       (x) each
applicable Continuing Lender severally agrees that the Existing European Term
Loan A made by such Continuing Lender under the Existing First Lien Credit
Agreement shall remain outstanding on an after the Effective Date as “European
Term Loan C1” made pursuant to this Agreement in the same pro rata amount of such
Continuing Lender’s Pro Rata Share of the Existing European Term Loan A and
such Existing European Term Loan A shall on and after the Effective Date have
all of the rights and benefits of European Term Loan C1 as set forth in this
Agreement and the other Credit Documents and (y) each Lender having a European
Term Loan C1 Commitment (other than a Continuing Lender except with respect to
any amount of European Term Loan C1 Commitment of such Continuing Lender
in excess of the amount converted from the Existing European Term Loan A
pursuant to clause (ii)(x) above) severally agrees to lend to EuroCo, on
the Effective Date, a term loan in Euro in an amount equal to such Lender’s
European Term Loan C1 Commitment; and

(iii)      (x) each
applicable Continuing Lender severally agrees that the Existing European Term
Loan B made by such Continuing Lender under the Existing First Lien Credit
Agreement shall remain outstanding on an after the Effective Date as “European
Term Loan C2” made pursuant to this Agreement in the same pro rata amount of such
Continuing Lender’s Pro Rata Share of the Existing European Term Loan B and
such Existing European Term Loan B shall on and after the Effective Date have
all of the rights and benefits of European Term Loan C2 as set forth in this
Agreement and the other Credit Documents and (y) each Lender having a European
Term Loan C2 Commitment (other than a Continuing Lender except with respect to
any amount of European Term Loan C2 Commitment of such Continuing Lender
in excess of the amount converted from the Existing European Term Loan B
pursuant to clause (iii)(x) above) severally agrees to lend to EuroHoldco,
on the Effective Date, a term loan in Euro in an amount equal to such Lender’s
European Term Loan C2 Commitment.

The applicable Borrower may make only one borrowing
under each of the Domestic Tranche C Term Loan Commitment and the European Term
Loan Commitments which shall be on the Effective Date.  Any amount borrowed under this Section 2.1(a)
and subsequently repaid or prepaid may not be reborrowed.  Subject to Sections 2.13(a) and 2.14, all
amounts owed hereunder with respect to the Domestic Tranche C Term Loans and
the European Term Loans shall be paid in full no later than the Domestic
Tranche C Term Loan Maturity Date and the European Term Loan Maturity Date,
respectively.  Each Lender’s Domestic
Tranche C Term Loan Commitment and European Term Loan Commitments shall
terminate immediately and without further action on the Effective Date after
giving effect to the funding of such Lender’s Domestic Tranche C Term Loan
Commitment and European Term Loan Commitments on such date.

(b)   Borrowing
Mechanics for Term Loans.

(i)        The U.S. Borrower and each Euro
Borrower shall each deliver to the Administrative Agent a fully executed
Funding Notice no later than one Business Day 

 46
 

prior to the Effective Date.  Promptly upon receipt by Administrative Agent
of such Funding Notice, Administrative Agent shall notify each Lender of the
proposed borrowing.

(ii)       Each Lender shall make its Domestic
Tranche C Term Loan and/or respective European Term Loans, as the case may be,
available to Administrative Agent not later than 12:00 p.m. (Local Time)
on the Effective Date, by wire transfer of same day funds in Dollars or Euro,
as applicable, at the Principal Office designated by Administrative Agent.  Upon satisfaction or waiver of the conditions
precedent set forth in Section 3.3, Administrative Agent shall make the
proceeds of (a) the Domestic Tranche C Term Loans available to U.S. Borrower on
the Effective Date by causing an amount of same day funds in Dollars equal to
the proceeds of all such Loans received by U.S. Administrative Agent from
Lenders to be credited to the account of U.S. Borrower at the Principal Office
designated by U.S. Administrative Agent or to such other account as may be
designated in writing to the Administrative Agent by U.S. Borrower and
(b) European Term Loans available to the relevant Euro Borrowers  on the Effective Date by causing an amount
of same day funds in Euro equal to the proceeds of all such Loans received by
the Administrative Agent from Lenders to be credited to the account of the
relevant Euro Borrowers  at the
Administrative Agent’s Principal Office or to such other account as may be
designated in writing to the Administrative Agent by the relevant Euro
Borrowers.

2.2.   Revolving Loans.

(a)       Revolving Commitments. 
During the Revolving Commitment Period, subject to the terms and
conditions hereof, each Lender severally agrees to make Domestic Revolving
Loans to U.S. Borrower in Dollars and European Revolving Loans to the Euro
Borrowers in Euro; provided, that after giving effect to the making of
any Revolving Loans in no event shall the Total Utilization of Revolving
Commitments exceed the Revolving Commitments then in effect.  Amounts borrowed pursuant to this Section
2.2(a) may be repaid and reborrowed during the Revolving Commitment
Period.  Each Lender’s Revolving
Commitment shall expire on the Revolving Commitment Termination Date and all
Revolving Loans and all other amounts owed hereunder with respect to the
Revolving Loans and the Revolving Commitments shall be paid in full no later
than such date.  Any Revolving Loan
outstanding under the Existing First Lien Credit Agreement on the Effective
Date shall continue to be outstanding and be deemed to be Revolving Loans made
hereunder subject the terms and conditions hereof.

(b)    Borrowing Mechanics for Revolving
Loans.

(i)        Except pursuant to 2.4(d), Domestic
Revolving Loans shall be made in an aggregate minimum amount of $1,000,000 and
integral multiples of $500,000  in
excess of that amount, and European Revolving Loans shall be in an aggregate
minimum amount of €1,000,000 and integral multiples of  €500,000.

(ii)       Whenever (a) Borrower desires that Lenders make
Revolving Loans, such Borrower shall deliver to Administrative Agent a fully
executed and delivered Funding

 47

Notice no later than (a) 10:00 a.m. (Local
Time) at least three Business Days in advance of the proposed Credit Date in
the case of a European Revolving Loan, and (b) 10:00 a.m. (New York City time)
on the proposed Credit Date in the case of a Domestic Revolving Loan; provided
that, notwithstanding the foregoing, three Business Days prior notice shall be
required with respect to a Eurodollar Rate Loan.  Except as otherwise provided herein, a
Funding Notice for a European Revolving Loan shall be irrevocable on and after
the related Interest Rate Determination Date and the applicable Borrower shall
be bound to make a borrowing in accordance therewith.

(iii)       Notice of receipt of each Funding
Notice in respect of Revolving Loans, together with the amount of each Lender’s
Pro Rata Share thereof, if any, together with the applicable interest rate,
shall be provided by Administrative Agent to each applicable Lender by
telefacsimile with reasonable promptness, but (provided Administrative Agent
shall have received such notice by 10:00 a.m. (Local Time)) not later than 2:00
p.m. (Local Time) on the same day as Administrative Agent’s receipt of such
Funding Notice from the applicable Borrower.

(iv)       Each Lender shall make the amount of
its Revolving Loan available to Administrative Agent not later than 12:00 p.m.
(Local Time) on the applicable Credit Date by wire transfer of same day funds
in Dollars or Euro, as applicable, at the Principal Office designated by
Administrative Agent.  Except as provided
herein, upon satisfaction or waiver of the conditions precedent specified
herein, Administrative Agent shall make the proceeds of such Revolving Loans
available to the applicable Borrower on the applicable Credit Date by causing
an amount of same day funds in Dollars or Euro, as applicable, equal to the
proceeds of all such Revolving Loans received by Administrative Agent from
Lenders to be credited to the account of the applicable Borrower at the
Principal Office designated by Administrative Agent or such other account as may
be designated in writing to Administrative Agent by the applicable Borrower.

2.3.   Swing
Line Loans.

(a)        Swing Line Loans Commitments. 
During the Revolving Commitment Period, subject to the terms and
conditions hereof, Swing Line Lender hereby agrees to make Swing Line Loans to
the Borrowers in the aggregate amount up to but not exceeding the Swing Line
Sublimit; provided, that after giving effect to the making of any Swing
Line Loan, in no event shall the Total Utilization of Revolving Commitments
exceed the Revolving Commitments then in effect.  Amounts borrowed pursuant to this Section 2.3
may be repaid and reborrowed during the Revolving Commitment Period.  Swing Line Lender’s Revolving Commitment
shall expire on the Revolving Commitment Termination Date and all Swing Line
Loans, all other amounts owed hereunder with respect to the Swing Line Loans
and the Revolving Commitments shall be paid in full no later than such date.

(b)        Borrowing Mechanics for Swing Line Loans.

(i)            Swing Line Loans shall be made in an aggregate minimum
amount of $500,000 and integral multiples of $100,000 in excess of that amount.

 48
 

(ii)               Whenever a Borrower desires that
Swing Line Lender make a Swing Line Loan, such Borrower shall deliver to
Administrative Agent a Funding Notice no later than 12:00 p.m. (Local Time) on
the proposed Credit Date.

(iii)              Swing Line Lender shall make the amount of its Swing
Line Loan available to Administrative Agent not later than 2:00 p.m. (Local
Time) on the applicable Credit Date by wire transfer of same day funds in
Dollars or Euros, as applicable, at Administrative Agent’s Principal
Office.  Except as provided herein, upon
satisfaction or waiver of the conditions precedent specified herein,
Administrative Agent shall make the proceeds of such Swing Line Loans available
to the applicable Borrower on the applicable Credit Date by causing an amount
of same day funds in Dollars or Euros, as applicable, equal to the proceeds of
all such Swing Line Loans received by Administrative Agent from Swing Line Lender
to be credited to the account of such Borrower at Administrative Agent’s
Principal Office, or to such other account as may be designated in writing to
Administrative Agent by such Borrower.

(iv)              With respect to any Swing Line Loans which have not been
voluntarily prepaid by the applicable Borrower pursuant to Section 2.13, Swing
Line Lender may at any time in its sole and absolute discretion, deliver to
Administrative Agent (with a copy to the applicable Borrower), no later than
11:00 a.m. (Local Time) at least one Business Day in advance of the proposed
Credit Date, a notice (which shall be deemed to be a Funding Notice given by
the applicable Borrower) requesting that each Lender holding (i) in the case of
Swing Line Loans to the U.S. Borrower, a Domestic Revolving Commitment make
Domestic Revolving Loans and (ii) in the case of Swing Line Loans to a Euro
Borrower, a European Revolving Commitment make European Revolving Loans, in
each case to the applicable Borrower on such Credit Date in an amount equal to
the amount of such Swing Line Loans (the “Refunded Swing Line Loans”) outstanding on the date such
notice is given which Swing Line Lender requests Lenders to prepay.  Anything contained in this Agreement to the
contrary notwithstanding, (1) the proceeds of such Revolving Loans made by the
Lenders other than Swing Line Lender shall be immediately delivered by
Administrative Agent to Swing Line Lender (and not to the Borrowers) and
applied to repay a corresponding portion of the Refunded Swing Line Loans and
(2) on the day such Revolving Loans are made, Swing Line Lender’s Pro Rata
Share of the Refunded Swing Line Loans shall be deemed to be paid with the
proceeds of a Domestic Revolving Loan or European Revolving Loan, as
applicable, made by Swing Line Lender to the applicable Borrower, and such
portion of the Swing Line Loans deemed to be so paid shall no longer be
outstanding as Swing Line Loans and shall no longer be due under the Swing Line
Note of Swing Line Lender but shall instead constitute part of Swing Line
Lender’s outstanding Domestic Revolving Loans or European Revolving Loan, as
applicable, to the applicable Borrower and shall be due under the Revolving
Loan Note issued by the such Borrower to Swing Line Lender.  The Borrowers hereby authorize Administrative
Agent and Swing Line Lender to charge the applicable Borrower’s accounts with
Administrative Agent and Swing Line Lender (up to the amount available in each
such account) in order to immediately pay Swing Line Lender the amount of the Refunded
Swing Line Loans to the extent the proceeds of such Revolving Loans made by
Lenders, including the Revolving Loans deemed to be made by Swing Line Lender,
are not 

 49
 

sufficient to repay in full the Refunded
Swing Line Loans.  If any portion of any such
amount paid (or deemed to be paid) to Swing Line Lender should be recovered by
or on behalf of a Borrower from Swing Line Lender in bankruptcy, by assignment
for the benefit of creditors or otherwise, the loss of the amount so recovered
shall be ratably shared among all Lenders in the manner contemplated by Section
2.17.

(v)               If for any reason Revolving Loans are not made
pursuant to Section 2.3(b)(iv) in an amount sufficient to repay any amounts
owed to Swing Line Lender in respect of any outstanding Swing Line Loans on or
before the third Business Day after demand for payment thereof by Swing Line
Lender, each Lender holding a Revolving Commitment shall be deemed to, and
hereby agrees to, have purchased a participation in such outstanding Swing Line
Loans, and in an amount equal to its Pro Rata Share of the applicable unpaid
amount together with accrued interest thereon. 
Upon one Business Day’s notice from Swing Line Lender, each Lender
holding a Revolving Commitment shall deliver to Swing Line Lender an amount
equal to its respective participation in the applicable unpaid amount in same
day funds at the Principal Office of Swing Line Lender.  In order to evidence such participation each
Lender holding a Revolving Commitment agrees to enter into a participation
agreement at the request of Swing Line Lender in form and substance reasonably
satisfactory to Swing Line Lender.  In
the event any Lender holding a Revolving Commitment fails to make available to
Swing Line Lender the amount of such Lender’s participation as provided in this
paragraph, Swing Line Lender shall be entitled to recover such amount on demand
from such Lender together with interest thereon for three Business Days at the
rate customarily used by Swing Line Lender for the correction of errors among
banks and thereafter at the Base Rate, as applicable.

(vi)              Notwithstanding anything contained herein to the
contrary, (1) each Lender’s obligation to make Revolving Loans for the purpose
of repaying any Refunded Swing Line Loans pursuant to the second preceding
paragraph and each Lender’s obligation to purchase a participation in any
unpaid Swing Line Loans pursuant to the immediately preceding paragraph shall
be absolute and unconditional and shall not be affected by any circumstance,
including without limitation (A) any set-off, counterclaim, recoupment,
defense or other right which such Lender may have against Swing Line Lender,
any Credit Party or any other Person for any reason whatsoever; (B) the
occurrence or continuation of a Default or Event of Default; (C) any adverse
change in the business, operations, properties, assets, condition (financial or
otherwise) or prospects of any Credit Party; (D) any breach of this Agreement
or any other Credit Document by any party thereto; or (E) any other
circumstance, happening or event whatsoever, whether or not similar to any of
the foregoing; provided that such obligations of each Lender are subject
to the condition that Swing Line Lender believed in good faith that all
conditions under Section 3.2 to the making of the applicable Refunded Swing
Line Loans or other unpaid Swing Line Loans, were satisfied at the time such
Refunded Swing Line Loans or unpaid Swing Line Loans were made, or the
satisfaction of any such condition not satisfied had been waived by the
Requisite Lenders prior to or at the time such Refunded Swing Line Loans or
other unpaid Swing Line Loans were made; and (2) Swing Line Lender shall not be
obligated to make any Swing Line Loans (A) if it has elected not to do so after
the occurrence and during the continuation of a Default or Event of Default or 

 50
 

(B) at a time when a Funding Default exists
unless Swing Line Lender has entered into arrangements satisfactory to it and
the Borrowers to eliminate Swing Line Lender’s risk with respect to the
Defaulting Lender’s participation in such Swing Ling Loan, including by cash
collateralizing such Defaulting Lender’s Pro Rata Share of the outstanding
Swing Line Loans.

2.4.         Issuance of Letters of Credit and
Purchase of Participations Therein.

(a)   Letters of Credit. 
During the Revolving Commitment Period, subject to the terms and
conditions hereof, Issuing Bank agrees to issue Letters of Credit for the
account of the Borrowers in the aggregate amount up to but not exceeding the
Letter of Credit Sublimit; provided, (i) each Letter of Credit shall be
denominated in Dollars or Euro, as applicable; (ii) the stated amount of each
Letter of Credit shall not be less than $250,000 or such lesser amount as is
acceptable to Issuing Bank; provided, in no event shall the aggregate
minimum amount of Letters of Credit issued at any time be less than €50,000 or
the Dollar Equivalent thereof; (iii) after giving effect to such issuance, in
no event shall the Total Utilization of Revolving Commitments exceed the
Revolving Commitments then in effect; (iv) after giving effect to such
issuance, in no event shall the Letter of Credit Usage exceed the Letter of
Credit Sublimit then in effect; (v) in no event shall any standby Letter of
Credit have an expiration date later than the earlier of (1) the Revolving
Commitment Termination Date and (2) the date which is one year from the date of
issuance of such standby Letter of Credit; and (vi) in no event shall any
commercial Letter of Credit (x) have an expiration date later than the earlier
of (1) the Revolving Commitment Termination Date and (2) the date which is 180
days from the date of issuance of such commercial Letter of Credit or (b) be
issued if such commercial Letter of Credit is otherwise unacceptable to Issuing
Bank in its reasonable discretion. 
Subject to the foregoing, Issuing Bank may agree that a standby Letter
of Credit will automatically be extended for one or more successive periods not
to exceed one year each, unless Issuing Bank elects not to extend for any such
additional period; provided, Issuing Bank shall not extend any such
Letter of Credit if it has received written notice that an Event of Default has
occurred and is continuing and the Requisite Lenders have directed the Issuing
Lender to cease providing Letters of Credit at the time Issuing Bank must elect
to allow such extension; provided, further, in the event a
Funding Default exists, Issuing Bank shall not be required to issue any Letter
of Credit unless Issuing Bank has entered into arrangements satisfactory to it
and the Borrowers to eliminate Issuing Bank’s risk with respect to the participation
in Letters of Credit of the Defaulting Lender, including by cash
collateralizing such Defaulting Lender’s Pro Rata Share of the Letter of Credit
Usage.

(b)   Notice of Issuance. 
Whenever a Borrower desires the issuance of a Letter of Credit, it shall
deliver to Administrative Agent an Issuance Notice no later than 12:00 p.m.
(Local Time) at least three Business Days (in the case of standby letters of
credit) or five Business Days (in the case of commercial letters of credit), or
in each case such shorter period as may be agreed to by Issuing Bank in any
particular instance, in advance of the proposed date of issuance.  Upon satisfaction or waiver of the conditions
set forth in Section 3.2, Issuing Bank shall issue the requested Letter of
Credit only in accordance with Issuing Bank’s standard operating
procedures.  Upon the issuance of any
Letter of Credit or amendment or modification to a Letter of Credit, Issuing
Bank shall promptly notify each 

 51
 

Lender with a Revolving Commitment of such
issuance, which notice shall be accompanied by a copy of such Letter of Credit
or amendment or modification to a Letter of Credit and the amount of such
Lender’s respective participation in such Letter of Credit pursuant to Section
2.4(e).

(c)   Responsibility of Issuing Bank With
Respect to Requests for Drawings and Payments. 
In determining whether to honor any drawing under any Letter of Credit
by the beneficiary thereof, Issuing Bank shall be responsible only to examine
the documents delivered under such Letter of Credit with reasonable care so as
to ascertain whether they appear on their face to be in accordance with the
terms and conditions of such Letter of Credit. 
As between the Borrowers and the
Lenders, as applicable, and such Issuer, the Borrowers assume all risks
of the acts and omissions of, or misuse of the Letters of Credit issued by
Issuing Bank, by the respective beneficiaries of such Letters of Credit.  In furtherance and not in limitation of the
foregoing, Issuing Bank shall not be responsible for:  (i) the form, validity, sufficiency, accuracy,
genuineness or legal effect of any document submitted by any party in
connection with the application for and issuance of any such Letter of Credit,
even if it should in fact prove to be in any or all respects invalid,
insufficient, inaccurate, fraudulent or forged; (ii) the validity or
sufficiency of any instrument transferring or assigning or purporting to
transfer or assign any such Letter of Credit or the rights or benefits
thereunder or proceeds thereof, in whole or in part, which may prove to be
invalid or ineffective for any reason; (iii) failure of the beneficiary of any
such Letter of Credit to comply fully with any conditions required in order to
draw upon such Letter of Credit; (iv) errors, omissions, interruptions or
delays in transmission or delivery of any messages, by mail, cable, telegraph,
telex or otherwise, whether or not they be in cipher; (v) errors in
interpretation of technical terms; (vi) any loss or delay in the transmission
or otherwise of any document required in order to make a drawing under any such
Letter of Credit or of the proceeds thereof; (vii) the misapplication by the
beneficiary of any such Letter of Credit of the proceeds of any drawing under
such Letter of Credit; or (viii) any consequences arising from causes beyond
the control of Issuing Bank, including any Governmental Acts; none of the above
shall affect or impair, or prevent the vesting of, any of Issuing Bank’s rights
or powers hereunder.  Without limiting
the foregoing and in furtherance thereof, any action taken or omitted by
Issuing Bank under or in connection with the Letters of Credit or any documents
and certificates delivered thereunder, if taken or omitted in good faith, shall
not give rise to any liability on the part of Issuing Bank to any
Borrower.  Notwithstanding anything to
the contrary contained in this Section 2.4(c), each Borrower shall retain any
and all rights it may have against Issuing Bank for any liability arising
solely out of the gross negligence, bad faith or willful misconduct of Issuing
Bank.

(d)   Reimbursement by Borrowers of
Amounts Drawn or Paid Under Letters of Credit. 
In the event Issuing Bank has determined to honor a drawing under a
Letter of Credit, it shall immediately notify the applicable Borrower and
Administrative Agent, and such Borrower shall reimburse Issuing Bank on or
before the Business Day immediately following the date on which such drawing is
honored (the “Reimbursement Date”) in an amount in the currency in which such Letter of
Credit is denominated and in same day funds equal to the amount of such honored
drawing; provided, anything contained herein to the contrary
notwithstanding, (i) unless such Borrower shall have notified Administrative
Agent and Issuing Bank prior to 10:00 a.m. (Local Time) on the date such
drawing is honored that 

 52
 

such Borrower intends to reimburse Issuing
Bank for the amount of such honored drawing with funds other than the proceeds
of Revolving Loans, such Borrower shall be deemed to have given a timely
Funding Notice to Administrative Agent requesting Lenders (x) in the case of
Letters of Credit issued to the U.S. Borrower, with Domestic Revolving
Commitments, to make Domestic Revolving Loans that are Base Rate Loans and (y)
in the case of Letters of Credit issues to a Euro Borrower, with European
Revolving Commitments, to make European Revolving Loans, in each case on the
Reimbursement Date in the amount and in the currency of such honored drawing,
and (ii) subject to satisfaction or waiver of the conditions specified in
Section 3.2, Lenders with (x) in the case of Letters of Credit issued to the
U.S. Borrower, with Domestic Revolving Commitments shall, on the Reimbursement
Date, make Revolving Loans that are Base Rate Loans and (y) in the case of Letters
of Credit issues to a Euro Borrower, with European Revolving Commitments shall,
on the Reimbursement Date, make Revolving Loans, in each case in the amount and
in the currency of such honored drawing, the proceeds of which shall be applied
directly by Administrative Agent to reimburse Issuing Bank for the amount of
such honored drawing; and provided  further, if for any reason
proceeds of Revolving Loans are not received by Issuing Bank on the
Reimbursement Date in an amount equal to the amount of such honored drawing,
the applicable Borrower shall reimburse Issuing Bank, on demand, in an amount
in same day funds equal to the excess of the amount of such honored drawing
over the aggregate amount of such Revolving Loans, if any, which are so
received.  Nothing in this Section 2.4(d)
shall be deemed to relieve any Lender with a Revolving Commitment from its
obligation to make Revolving Loans on the terms and conditions set forth
herein, and each Borrower shall retain any and all rights it may have against any
such Lender resulting from the failure of such Lender to make such Revolving
Loans under this Section 2.4(d).

(e)   Lenders’ Purchase of Participations
in Letters of Credit.  Immediately upon the
issuance of each Letter of Credit, each Lender (i) in the case of Letters of
Credit issued to U.S. Borrower, having a Domestic Revolving Commitment and (ii)
in the case of Letters of Credit issued to a Euro Borrower, having a European
Revolving Commitment, in each such case shall be deemed to have purchased, and hereby
agrees to irrevocably purchase, from Issuing Bank a participation in such
Letter of Credit and any drawings honored thereunder in an amount equal to such
Lender’s Pro Rata Share (with respect to the Revolving Commitments) of the
maximum amount which is or at any time may become available to be drawn
thereunder.  In the event that the
applicable Borrower shall fail for any reason to reimburse Issuing Bank as
provided in Section 2.4(d), Issuing Bank shall promptly notify each Lender with
a Revolving Commitment of the unreimbursed amount of such honored drawing and
of such Lender’s respective participation therein based on such Lender’s Pro
Rata Share of the Revolving Commitments. 
Each Lender (x) in the case of Letters of Credit issued to the U.S.
Borrower, with Domestic Revolving Commitments, and (y) in the case of Letters
of Credit issued to a Euro Borrower, with European Revolving Commitments, shall
make available to Issuing Bank an amount equal to its respective participation,
in Dollars or Euro, as applicable, and in same day funds, at the office of
Issuing Bank specified in such notice, not later than 12:00 p.m. (Local Time)
on the first business day (under the laws of the jurisdiction in which such
office of Issuing Bank is located) after the date notified by Issuing
Bank.  In the event that any Lender with
a Revolving Commitment fails to make available to Issuing Bank on such business
day the amount of such Lender’s participation in such Letter of Credit as
provided in this Section 2.4(e), Issuing 

 53
 

Bank shall be entitled to recover such amount
on demand from such Lender together with interest thereon for three Business
Days at the rate customarily used by Issuing Bank for the correction of errors
among banks and thereafter at the Base Rate. 
Nothing in this Section 2.4(e) shall be deemed to prejudice the right of
any Lender with a Revolving Commitment to recover from Issuing Bank any amounts
made available by such Lender to Issuing Bank pursuant to this Section in the
event that it is determined that the payment with respect to a Letter of Credit
in respect of which payment was made by such Lender constituted gross
negligence or willful misconduct on the part of Issuing Bank.  In the event Issuing Bank shall have been
reimbursed by other Lenders pursuant to this Section 2.4(e) for all or any
portion of any drawing honored by Issuing Bank under a Letter of Credit, such
Issuing Bank shall distribute to each Lender which has paid all amounts payable
by it under this Section 2.4(e) with respect to such honored drawing such
Lender’s Pro Rata Share of all payments subsequently received by Issuing Bank
from the applicable Borrower in reimbursement of such honored drawing when such
payments are received.  Any such
distribution shall be made to a Lender at its primary address set forth below
its name on Appendix B or at such other address as such Lender may request.

(f)    Obligations
Absolute.  The
obligation of each Borrower to reimburse Issuing Bank for drawings
honored under the Letters of Credit issued by it and to repay any Revolving
Loans made by Lenders pursuant to Section 2.4(d) and the obligations of Lenders
under Section 2.4(e) shall be unconditional and irrevocable and shall be paid
strictly in accordance with the terms hereof under all circumstances including
any of the following circumstances:  (i)
any lack of validity or enforceability of any Letter of Credit; (ii) the
existence of any claim, set-off, defense or other right which a Borrower
or any Lender may have at any time against a beneficiary or any transferee of
any Letter of Credit (or any Persons for whom any such transferee may be
acting), Issuing Bank, Lender or any other Person or, in the case of a Lender,
against a Borrower, whether in connection herewith, the transactions
contemplated herein or any unrelated transaction (including any underlying
transaction between a Borrower or one of its Subsidiaries and the beneficiary
for which any Letter of Credit was procured); (iii) any draft or other document
presented under any Letter of Credit proving to be forged, fraudulent, invalid
or insufficient in any respect or any statement therein being untrue or
inaccurate in any respect; (iv) payment by Issuing Bank under any Letter of
Credit against presentation of a draft or other document which does not
substantially comply with the terms of such Letter of Credit; (v) any adverse
change in the business, operations, properties, assets, condition (financial or
otherwise) or prospects of Holdings or any of its Subsidiaries; (vi) any breach
hereof or any other Credit Document by any party thereto; (vii) any other
circumstance or happening whatsoever, whether or not similar to any of the
foregoing; or (viii) the fact that an Event of Default or a Default shall have
occurred and be continuing; provided, in each case, that payment by
Issuing Bank under the applicable Letter of Credit shall not have constituted
gross negligence, bad faith or willful misconduct of Issuing Bank under the
circumstances in question.

(g)   Indemnification. 
Without duplication of any obligation of the Borrowers under Section
11.2 or 11.3, in addition to amounts payable as provided herein, the Borrowers
hereby agree to protect, indemnify, pay and save harmless Issuing Bank from and
against any and all claims, demands, liabilities, damages, losses, costs,
charges and expenses (including reasonable out-of-pocket fees, expenses and
disbursements of counsel) which Issuing Bank 

 54
 

may incur or be subject to as a consequence,
direct or indirect, of (i) the issuance of any Letter of Credit by Issuing
Bank, other than as a result of (1) the gross negligence, bad faith or willful
misconduct of Issuing Bank or (2) the wrongful dishonor by Issuing Bank of a
proper demand for payment made under any Letter of Credit issued by it, or (ii)
the failure of Issuing Bank to honor a drawing under any such Letter of Credit
as a result of any Governmental Act.

(h)   Substitute Issuing Bank. 
A Borrower may request any other Lender with Revolving Commitments
reasonably acceptable to the Administrative Agent to issue such Letter of
Credit, in lieu of an issuance by the Issuing Bank, by delivering to such
Lender a copy of the applicable Issuance Notice.  Any Lender so requested to issue such Letter
of Credit shall promptly notify the applicable Borrower, the current Issuing
Bank and Administrative Agent whether or not, in its sole discretion,
it has elected to issue such Letter of Credit, and any such Lender that so
elects to issue such Letter of Credit shall be the Issuing Bank with respect
thereto.

2.5.   Pro
Rata Shares; Availability of Funds.

(a)   Pro Rata Shares. 
All Loans shall be made, and all participations purchased, by Lenders
simultaneously and proportionately to their respective Pro Rata Shares, it
being understood that no Lender shall be responsible for any default by any
other Lender in such other Lender’s obligation to make a Loan requested
hereunder or purchase a participation required hereby nor shall any Term Loan
Commitment or any Revolving Commitment of any Lender be increased or decreased
as a result of a default by any other Lender in such other Lender’s obligation
to make a Loan requested hereunder or purchase a participation required hereby.

(b)   Availability of Funds. 
Unless Administrative Agent shall have been notified by any Lender prior
to the applicable Credit Date that such Lender does not intend to make
available to Administrative Agent the amount of such Lender’s Loan requested on
such Credit Date, Administrative Agent may assume that such Lender has made
such amount available to Administrative Agent on such Credit Date and
Administrative Agent may, in its sole discretion, but shall not be obligated
to, make available to Borrower a corresponding amount on such Credit Date.  If such corresponding amount is not in fact
made available to Administrative Agent by such Lender, Administrative Agent
shall be entitled to recover such corresponding amount on demand from such
Lender together with interest thereon, for each day from such Credit Date until
the date such amount is paid to Administrative Agent, at the customary rate set
by Administrative Agent for the correction of errors among banks for three
Business Days and thereafter at the Base Rate. 
If such Lender does not pay such corresponding amount forthwith upon
Administrative Agent’s demand therefor, Administrative Agent shall promptly
notify Borrower and Borrower shall promptly pay such corresponding amount to
Administrative Agent together with interest thereon, for each day from such
Credit Date until the date such amount is paid to Administrative Agent, at the
rate payable hereunder for Base Rate Loans for such Class of Loans.  Nothing in this Section 2.5(b) shall be
deemed to relieve any Lender from its obligation to fulfill its Term Loan
Commitments and Revolving Commitments hereunder or to prejudice any rights that
Borrower may have against any Lender as a result of any default by such Lender
hereunder.

 55
 

2.6.   Use
of Proceeds. 
The proceeds of the Domestic Tranche C Term Loans made on the Effective
Date shall be applied by the U.S. Borrower to repay the Existing Domestic Term
Loans.  The proceeds of the European Term
Loan C1 made on the Effective Date shall be applied by EuroCo to repay the
Existing European Term Loan A and any and all amounts outstanding under the
Existing Second Lien Credit Agreement relating to the Existing Second Lien
European Term Loan A.  The proceeds of
the European Term Loan C2 made on the Effective Date shall be applied by
EuroHoldco to repay the Existing European Term Loan B and any and all amounts
outstanding under the Existing Second Lien Credit Agreement relating to the
Existing Second Lien European Term Loan B. 
The IPO Proceeds shall be used to repay any and all amounts outstanding
under the Existing Holdco PIK Agreement. 
The proceeds of the Revolving Loans, Swing Line Loans and Letters of
Credit made after the Closing Date shall be applied by the relevant Borrower
exclusively for working capital and general corporate purposes (including to
fund working capital adjustments in connection with the Acquisition or Permitted
Acquisitions) of Holdings and its Subsidiaries, including Permitted
Acquisitions and the incorporation, formation or other organization of Joint
Ventures pursuant to Section 6.7(h).  No
portion of the proceeds of any Credit Extension shall be used in any manner
that causes or might cause such Credit Extension or the application of such
proceeds to violate Regulation T, Regulation U or Regulation X of the Board of
Governors or any other regulation thereof or to violate the Exchange Act.

2.7.   Evidence
of Debt; Register; Lenders’ Books and Records; Notes.

(a)   Lenders’ Evidence of Debt. 
Each Lender shall maintain on its internal records an account or
accounts evidencing the Obligations of the applicable Borrower to such Lender,
including the amounts of the Loans made by it and each repayment and prepayment
in respect thereof.  Any such recordation
shall be conclusive and binding on such Borrower, absent manifest error; provided,
that the failure to make any such recordation, or any error in such recordation,
shall not affect any Lender’s Revolving Commitments or such Borrower’s
Obligations in respect of any applicable Loans; and provided  further,
in the event of any inconsistency between the Register and any Lender’s
records, the recordations in the Register shall govern.

(b)   Register. 
Administrative Agent (or its agent or sub-agent appointed by it) shall
maintain at the Principal Office a register for the recordation of the names
and addresses of Lenders and the Revolving Commitments and Loans of each Lender
from time to time (the “Register”).  The Register shall be available for
inspection by the Borrowers or any Lender (with respect to any entry relating
to such Lender’s Loans) at any reasonable time and from time to time upon
reasonable prior notice.  Administrative
Agent shall record, or shall cause to be recorded, in the Register the
Revolving Commitments and the Loans in accordance with the provisions of
Section 11.6, and each repayment or prepayment in respect of the principal
amount of the Loans, and any such recordation shall be conclusive and binding
on each Borrower and each Lender, absent manifest error; provided,
failure to make any such recordation, or any error in such recordation, shall
not affect any Lender’s Revolving Commitments or any Borrower’s Obligations in
respect of any Loan.  Each Borrower
hereby designates GSCP to serve as such Borrower’s agent solely for purposes of
maintaining the Register as provided in this Section 2.7, and each Borrower
hereby agrees 

 56
 

that, to the extent GSCP serves in such
capacity, GSCP and its officers, directors, employees, agents, sub-agents and
affiliates shall constitute “Indemnitees.”

(c)   Notes.  If so requested by any
Lender by written notice to Borrower (with a copy to Administrative Agent) at
least two Business Days prior to the Effective Date, or at any time thereafter,
each Borrower shall execute and deliver to such Lender (and/or, if applicable
and if so specified in such notice, to any Person who is an assignee of such
Lender pursuant to Section 11.6) on the Effective Date (or, if such notice is
delivered after the Effective Date, promptly after such Borrower’s receipt of
such notice) a Note or Notes to evidence such Lender’s Domestic Tranche C Term
Loan, European Term Loan, Domestic Revolving Loan, European Revolving Loan or
Swing Line Loan to such Borrower, as the case may be.  Each Continuing Lender who has a note
evidencing its Existing Term Loan shall promptly deliver to the applicable
Borrower such note in exchange for a Domestic Tranche C Term Loan Note
evidencing its Domestic Tranche C Term Loan or a European Term Loan C Note
evidencing its European Term Loan, as applicable.

2.8.   Interest
on Loans.

(a)   Except as otherwise set forth
herein, each Class of Loan shall bear interest on the unpaid principal amount
thereof from the date made through repayment (whether by acceleration or
otherwise) thereof as follows:

(i)      in the case of Domestic Tranche C Term Loans, Domestic
Revolving Loans and Domestic Swing Line Loans:

(1) if a Base Rate Loan, at
the Base Rate plus the Applicable Margin; or

(2) if a Eurodollar Rate Loan,
at the Adjusted Eurodollar Rate (if any) plus the Applicable Margin; or

(ii)     in the case of European Term Loans and European
Revolving Loans, at the Adjusted Eurodollar Rate plus Mandatory Costs (if any)
plus the Applicable Margin.

(b)   The basis for determining the rate
of interest with respect to any Loan (except a Swing Line Loan which can be
made and maintained as Base Rate Loans only), and the Interest Period with
respect to any Eurodollar Rate Loan, shall be selected by the applicable
Borrower and notified to Administrative Agent and Lenders pursuant to the
applicable Funding Notice or Conversion/Continuation Notice, as the case may
be.  The Base Rate, if applicable, and
the Adjusted Eurodollar Rate for the Term Loans on the Effective Date shall
have the same and corresponding Interest Periods as the Existing Term Loans
such that no breakage under Section 2.18(c) shall occur.  Each Term Loan Lender (whether a Continuing
Lender or a new Lender having a Term Loan Commitment) shall be allocated its
Pro Rata share of the Term Loans set at the corresponding Base Rate or the
Adjusted Eurodollar Rate, as applicable, and Interest Periods as the Existing
Term Loans.  Upon expiration of the
applicable Interest Period for the Term Loans on the Effective Date, each
Eurodollar Rate Loan shall either be converted into a Base Rate Loan or
continued as a 

 57
 

Eurodollar Rate Loan at the applicable
Borrower’s option pursuant to Section 2.9 hereof.  If on any day a Loan is outstanding with
respect to which a Funding Notice or Conversion/Continuation Notice has not
been delivered to Administrative Agent in accordance with the terms hereof
specifying the applicable basis for determining the rate of interest, then for
that day such Loan shall be a Base Rate Loan if such Loan is denominated in
Dollars or a Eurodollar Rate Loan with an Interest Period of one month if such
Loan is denominated in Euro.

(c)   In connection with Eurodollar Rate
Loans there shall be no more than ten (10) Interest Periods outstanding at any
time.  With respect to Domestic Loans, in
the event Borrower fails to specify between a Base Rate Loan or a Eurodollar
Rate Loan in the applicable Funding Notice or Conversion/Continuation Notice,
such Loan (if outstanding as a Eurodollar Rate Loan) will be automatically
converted into a Base Rate Loan on the last day of the then-current
Interest Period for such Loan (or if outstanding as a Base Rate Loan will
remain as, or (if not then outstanding) will be made as, a Base Rate
Loan).  In the event a Borrower fails to
specify an Interest Period for any Eurodollar Rate Loan in the applicable
Funding Notice or Conversion/Continuation Notice, such Borrower shall be deemed
to have selected an Interest Period of one month.  As soon as practicable after 10:00 a.m.
(Local Time) on each Interest Rate Determination Date, Administrative Agent
shall determine (which determination shall, absent manifest error, be final, conclusive
and binding upon all parties) the interest rate that shall apply to the
Eurodollar Rate Loans for which an interest rate is then being determined for
the applicable Interest Period and shall promptly give notice thereof (in
writing or by telephone confirmed in writing) to Borrowers and each Lender.

(d)   Interest payable pursuant to Section
2.8(a) shall be computed (i) in the case of Base Rate Loans on the basis of a
365-day or 366-day year, as the case may be, and (ii) in the case
of Eurodollar Rate Loans, on the basis of a 360-day year, in each case
for the actual number of days elapsed in the period during which it
accrues.  In computing interest on any
Loan, the date of the making of such Loan or the first day of an Interest
Period applicable to such Loan or, with respect to a Term Loan, the last
Interest Payment Date with respect to such Term Loan or, with respect to a Base
Rate Loan being converted from a Eurodollar Rate Loan, the date of conversion
of such Eurodollar Rate Loan to such Base Rate Loan, as the case may be, shall
be included, and the date of payment of such Loan or the expiration date of an
Interest Period applicable to such Loan or, with respect to a Base Rate Loan
being converted to a Eurodollar Rate Loan, the date of conversion of such Base
Rate Loan to such Eurodollar Rate Loan, as the case may be, shall be excluded; provided,
if a Loan is repaid on the same day on which it is made, one day’s interest
shall be paid on that Loan.

(e)   Except as otherwise set forth herein, interest on
each Loan (i) shall accrue on a daily basis and shall be payable in arrears on
each Interest Payment Date with respect to interest accrued on and to each such
payment date; (ii) shall accrue on a daily basis and shall be payable in
arrears upon any prepayment of that Loan, whether voluntary or mandatory, to
the extent accrued on the amount being prepaid; and (iii) shall accrue on a
daily basis and shall be payable in arrears at maturity of the Loans, including
final maturity of the Loans; provided, however, with respect to
any voluntary prepayment of a Base Rate Loan, accrued interest shall instead be
payable on the applicable Interest Payment Date.

 58

(f)    U.S. Borrower
agrees to pay to Issuing Bank, with respect to drawings honored under any
Letter of Credit, interest on the amount paid by Issuing Bank in respect of
each such honored drawing from the date such drawing is honored to but
excluding the date such amount is reimbursed by or on behalf of Borrower at a
rate equal to (i) for the period from the date such drawing is honored to but
excluding the applicable Reimbursement Date, the rate of interest otherwise
payable hereunder with respect to Domestic Revolving Loans that are Base Rate
Loans in the case of Letters of Credit denominated in Dollars, and
(ii) thereafter, a rate which is 2% per annum in excess of the rate of
interest otherwise payable hereunder with respect to Domestic Revolving Loans
that are Base Rate Loans in the case of Letters of Credit denominated in
Dollars.

(g)   Interest payable
pursuant to Section 2.8(f) shall be computed in the case of Base Rate Loans on
the basis of a 365-day or 366-day year, as the case may be, and
shall be payable on demand or, if no demand is made, on the date on which the
related drawing under a Letter of Credit is reimbursed in full.  Promptly upon receipt by Issuing Bank of any
payment of interest pursuant to Section 2.8(f), Issuing Bank shall distribute
to each Lender, out of the interest received by Issuing Bank in respect of the
period from the date such drawing is honored to but excluding the date on which
Issuing Bank is reimbursed for the amount of such drawing (including any such
reimbursement out of the proceeds of any Revolving Loans), the amount that such
Lender would have been entitled to receive in respect of the letter of credit
fee that would have been payable in respect of such Letter of Credit for such
period if no drawing had been honored under such Letter of Credit.  In the event Issuing Bank shall have been
reimbursed by Lenders for all or any portion of such honored drawing, Issuing
Bank shall distribute to each Lender which has paid all amounts payable by it
under Section 2.4(e) with respect to such honored drawing such Lender’s Pro
Rata Share of any interest received by Issuing Bank in respect of that portion
of such honored drawing so reimbursed by Lenders for the period from the date
on which Issuing Bank was so reimbursed by Lenders to but excluding the date on
which such portion of such honored drawing is reimbursed by a Borrower.

2.9.         Conversion/Continuation.

(a)   Subject to Section
2.18 (and, if a Default or Event of Default shall have occurred and then be
continuing, the Administrative Agent has not provided notice to the contrary),
Borrowers shall have the option:

(i)            to
convert at any time all or any part of any Domestic Tranche C Term Loan equal
to $1,000,000 and integral multiples of $500,000 in excess of that amount from
one Type of Loan to another Type of Loan; provided, a Eurodollar Rate
Loan may only be converted on the expiration of the Interest Period applicable
to such Eurodollar Rate Loan unless the applicable Borrower shall pay all
amounts due under Section 2.18 in connection with any such conversion; or

(ii)           upon the
expiration of any Interest Period applicable to any Eurodollar Rate Loan, to
continue all or any portion of such Loan equal to $1,000,000 and integral
multiples of $500,000 in excess of each applicable amount as a Eurodollar Rate
Loan in excess of that amount as a Eurodollar Rate Loan.

 59
 

(b)   The U.S. Borrower
shall deliver a Conversion/Continuation Notice to Administrative Agent no later
than 10:00 a.m. (Local Time) at least one Business Day in advance of the proposed
conversion date (in the case of a conversion to a Base Rate Loan) and at least
three Business Days in advance of the proposed conversion/continuation date (in
the case of a conversion to, or a continuation of, a Eurodollar Rate Loan); provided
that, European Term Loans and European Revolving Loans may only be continued as
Eurodollar Rate Loans.  Except as
otherwise provided herein, a Conversion/Continuation Notice for conversion to
(solely with respect to Domestic Loans), or continuation of, any Eurodollar
Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and
after the related Interest Rate Determination Date, and Borrowers shall be
bound to effect a conversion or continuation in accordance therewith.

2.10.       Default
Interest.  Upon the occurrence and during the
continuance of an Event of Default under Section 8.1(a), the principal amount
of all Loans and, to the extent permitted by applicable law, any interest
payments on the Loans or any fees or other amounts overdue in accordance with
Section 8.1(a) hereunder, shall thereafter bear interest (including post-petition
interest in any proceeding under the Bankruptcy Code or other applicable
bankruptcy laws) payable on demand at a rate that is 2% per annum in excess of
the interest rate otherwise payable hereunder with respect to the applicable
Loans (or, in the case of any such fees and other amounts, at a rate which is
2% per annum in excess of the interest rate otherwise payable hereunder for
Base Rate Loans that are Revolving Loans or at a rate which is 2% per annum in
excess of the interest rate otherwise payable hereunder for Eurodollar Rate
Loans that are Revolving Loans, as applicable); provided, in the case of
Eurodollar Rate Loans denominated in Dollars, upon the expiration of the
Interest Period in effect at the time any such increase in interest rate is
effective such Eurodollar Rate Loans shall thereupon become Base Rate Loans and
shall thereafter bear interest payable upon demand at a rate which is 2% per
annum in excess of the interest rate otherwise payable hereunder for Base Rate
Loans.  Payment or acceptance of the
increased rates of interest provided for in this Section 2.10 is not a
permitted alternative to timely payment and shall not constitute a waiver of
any Event of Default or otherwise prejudice or limit any rights or remedies of
Administrative Agent or any Lender.

2.11.   Fees.

(a)   Each applicable
Borrower agrees to pay to Lenders having Domestic Revolving Exposure or
European Revolving Exposure:

(i)            with
respect to Lenders having Domestic Revolving Exposure, commitment fees equal to
(1) the average of the daily difference between (a) the Domestic Revolving
Commitments and (b) the aggregate principal amount of (x) all outstanding
Domestic Revolving Loans plus (y) the Letter of Credit Usage with respect to
Letters of Credit issued for the account of the U.S. Borrower, times (2) the
Applicable Revolving Commitment Fee Percentage;

(ii)           with
respect to Lenders having European Revolving Exposure, commitment fees equal to
(1) the average of the daily difference between (a) the European Revolving
Commitments and (b) the aggregate principal amount of (x) all outstanding
European Revolving Loans plus (y) the Letter of Credit Usage with respect

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to
Letters of Credit issued for the account of the Euro Borrowers, times (2) the
Applicable Revolving Commitment Fee Percentage; and

(iii)          letter of
credit fees equal to (1) the Applicable Margin for Revolving Loans that are
Eurodollar Rate Loans, times (2) the average aggregate daily maximum amount
available to be drawn under all such Letters of Credit (regardless of whether
any conditions for drawing could then be met and determined as of the close of
business on any date of determination).

All fees referred to in this Section 2.11(a) shall be
paid to Administrative Agent at its Principal Office and upon receipt,
Administrative Agent shall promptly distribute to each applicable Lender its
Pro Rata Share thereof.

(b)   Each applicable
Borrower agrees to pay directly to Issuing Bank, for its own account, the
following fees:

(i)            a
fronting fee equal to 0.250%, per annum, times the average aggregate daily
maximum amount available to be drawn under all Letters of Credit (determined as
of the close of business on any date of determination); and

(ii)           such
customary and reasonable documentary and processing charges for any issuance,
amendment, transfer or payment of a Letter of Credit as are in accordance with
Issuing Bank’s standard schedule for such charges and as in effect at the time
of such issuance, amendment, transfer or payment, as the case may be.

(c)   All fees referred
to in Section 2.11(a) and 2.11(b)(i) shall be calculated (i) in the case of
Base Rate Loans on the basis of a 365-day or 366-day year, as the
case may be, and (ii) in the case of Eurodollar Rate Loans, on the basis of a
360-day year, in each case for the actual number of days elapsed and
shall be payable quarterly in arrears on March 31, June 30, September 30 and
December 31 of each year during the Revolving Commitment Period, commencing on
the first such date to occur after the Effective Date, and on the Revolving
Commitment Termination Date.

(d)   In addition to any
of the foregoing fees, Borrowers agree to pay to Agents such other fees in the
amounts and at the times separately agreed upon.

2.12.       Scheduled
Payments.  The
principal amount of the Term Loans shall be repaid in consecutive equal
quarterly installments (each, an “Installment”)
in the aggregate amount of 1.00% per annum on
the last day of each Fiscal Quarter which ends on or after June 30, 2007, with
the remaining balance due on the Domestic Tranche C Term Loan Maturity Date and
the European Term Loan Maturity Date, as applicable.  Notwithstanding the foregoing, (x) such
Installments shall be reduced in connection with any voluntary or mandatory
prepayments of the Domestic Tranche C Term Loans or the European Term Loans, as
the case may be, in accordance with Sections 2.13, 2.14 and 2.15, as
applicable; and (y) the Domestic Tranche C Term Loans and the European Term Loans,
together with all other amounts owed hereunder with respect thereto, shall, in
any event, be paid in full no later than the Domestic Tranche C Term Loan
Maturity Date and the European Term Loan Maturity Date, respectively.

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2.13.  
Voluntary Prepayments/Commitment Reductions.

(a)   Voluntary
Prepayments.

(i)   Any time
and from time to time:

(1) with respect to Base Rate Loans,
Borrowers may prepay any such Loans on any Business Day in whole or in part, in
an aggregate minimum amount of $1,000,000 and integral multiples of $500,000 in
excess of that amount;

(2) with respect to Eurodollar Rate
Loans denominated in Dollars, Borrowers may prepay any such Loans on any
Business Day in whole or in part in an aggregate minimum amount of $1,000,000
and integral multiples of $500,000 in excess of that amount;

(3) with respect to Eurodollar Rate
Loans denominated in Euro, Borrowers may prepay any such Loans on any Business
Day in whole or in part in an aggregate minimum amount of €1,000,000 and
integral multiples of €500,000 in excess of that amount; and

(4) with respect to Swing Line Loans,
Borrowers may prepay any such Loans on any Business Day in whole or in part in
an aggregate minimum amount of $500,000, and in integral multiples of $100,000
in excess of that amount.

(ii)   All such
prepayments shall be made:

(1) upon not less than one Business
Day’s prior written or telephonic notice in the case of Base Rate Loans;

(2) upon not less than three Business
Days’ prior written or telephonic notice in the case of Eurodollar Rate Loans;
and

(3) upon written or telephonic notice
on the date of prepayment, in the case of Swing Line Loans;

in each case given to Administrative Agent or Swing
Line Lender, as the case may be, by 12:00 p.m. (Local Time) on the date
required and, if given by telephone, promptly confirmed in writing to
Administrative Agent (and Administrative Agent will promptly transmit such
telephonic or original notice for Term Loans or Revolving Loans, as the case
may be, by telefacsimile or telephone to each Lender) or Swing Line Lender, as
the case may be.  Any such voluntary
prepayment shall be applied as specified in Section 2.15(a).

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(b)   Voluntary
Commitment Reductions.

(i)            Any
Borrower may, upon not less than three Business Days’ prior written or
telephonic notice confirmed in writing to Administrative Agent (which original
written or telephonic notice Administrative Agent will promptly transmit by
telefacsimile or telephone to each applicable Lender), at any time and from
time to time terminate in whole or permanently reduce in part, without premium
or penalty, the Revolving Commitments in an amount up to the amount by which
the Revolving Commitments exceed the Total Utilization of Revolving Commitments
at the time of such proposed termination or reduction; provided, any
such partial reduction of the Domestic Revolving Commitments shall be in an
aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in
excess of that amount and any such European Revolving Commitment shall be in an
aggregate minimum amount of €5,000,000 and integral multiples of €1,000,000 in
excess of that amount.

(ii)           Such
Borrower’s notice to Administrative Agent shall designate the date (which shall
be a Business Day) of such termination or reduction and the amount of any
partial reduction, and such termination or reduction of the Revolving
Commitments shall be effective on the date specified in Borrower’s notice and
shall reduce the Revolving Commitment of each Lender proportionately to its Pro
Rata Share thereof.

2.14.       Mandatory
Prepayments/Commitment Reductions.

(a)   Asset Sales.  No later than three Business Days following
the date of receipt by Holdings or any of its Subsidiaries of any Net Asset
Sale Proceeds, Borrowers shall, subject to Section 2.14(g), prepay the Loans as
set forth in Section 2.15(b) in an aggregate amount equal to such Net Asset
Sale Proceeds; provided, so long as no Default or Event of Default shall
have occurred and be continuing, the Borrowers shall have the option, directly
or through one or more of its Subsidiaries, to invest Net Asset Sale Proceeds
within two hundred seventy days of receipt thereof in assets of the general
type used or useful in the business of Holdings and its Subsidiaries.

(b)   Insurance/Condemnation
Proceeds.  No later than three
Business Days following the date of receipt by Holdings or any of its
Subsidiaries, or Administrative Agent or Collateral Agent, as applicable, as
loss payee, of any Net Insurance/Condemnation Proceeds, the Borrowers shall,
subject to Section 2.14(g), prepay the Loans as set forth in Section 2.15(b) in
an aggregate amount equal to such Net Insurance/Condemnation Proceeds; provided,
so long as no Default or Event of Default shall have occurred and be
continuing, the Borrowers shall have the option, directly or through one or
more of its Subsidiaries to invest such Net Insurance/Condemnation Proceeds
within two hundred seventy days of receipt thereof in long term productive
assets of the general type used or useful in the business of Holdings and its
Subsidiaries, which investment may include the repair, restoration or
replacement of the applicable assets thereof.

(c)   [reserved]

(d)   Issuance of
Debt.  On the date of receipt by
Holdings or any of its Subsidiaries of any Cash proceeds from the incurrence of
any Indebtedness of Holdings or any of its Subsidiaries (other than with
respect to any Indebtedness permitted to be incurred

 63
 

pursuant
to Section 6.1), the Borrowers shall prepay the Loans as set forth in Section
2.15(b) in an aggregate amount equal to 100% of such proceeds, net of
underwriting discounts, debt issuance and commitment fees and commissions and
other reasonable costs and expenses associated therewith, including reasonable
legal fees and expenses.

(e)   Consolidated
Excess Cash Flow.  In the event that
there shall be Consolidated Excess Cash Flow for any Fiscal Year (commencing
with the Fiscal Year ending 2007), the Borrowers shall, no later than one
hundred thirty days after the end of such Fiscal Year, prepay the Loans as set
forth in Section 2.15(b) in an aggregate amount equal to (i) 25% of such
Consolidated Excess Cash Flow minus (ii) voluntary repayments of the
Loans paid in that Fiscal Year, (excluding (i) repayments of Revolving Loans or
Swing Line Loans except to the extent the Revolving Commitments are permanently
reduced in connection with such repayments and (ii) the repayment of Existing
Indebtedness on the Effective Date); provided, that if the Leverage
Ratio on the last day of the applicable Fiscal Year is less than 4.00:1.00,
then such prepayment percentage shall be reduced to 0%.

(f)    Revolving
Loans and Swing Loans.  The Borrowers
shall from time to time prepay first,
the Swing Line Loans (with respect to the U.S. Borrower), and second, the Revolving Loans to the extent
necessary so that the Total Utilization of Revolving Commitments shall not at
any time exceed the Revolving Commitments then in effect.

(g)   Limitations on
Prepayments.  The prepayments of the
Loans pursuant to Sections 2.14(a) through 2.14(e) shall be subject to (i)
permissibility under local law relating to financial assistance, corporate
benefit, restrictions on upstreaming of cash intra-group and the fiduciary and
statutory duties of the directors of Holdings or its applicable Subsidiary, and
(ii) restrictions in its material Organizational Documents (including as a
result of minority ownership) (each restriction referred to in clauses (i) and
(ii), a “Restriction”).  Further, there will be no requirement to make
any such prepayment where Holdings, any of its Subsidiaries or any of their
Affiliates can demonstrate to the Lenders that it would incur a material Tax
liability by doing so, including a material deemed dividend pursuant to Section
956 of the Internal Revenue Code.  The
non-application and nonpayment of any prepayment amounts pursuant to Sections
2.14(a) through (e) as a consequence of this Section 2.14(g) will not, for the
avoidance of doubt, constitute an Event of Default, and such pre-payment
amounts shall be available for working capital purposes of Holdings and its
Subsidiaries as long as not required to be prepaid in accordance with the
following provisions.  Holdings and the
Guarantors will use and shall procure that any of their Subsidiaries will use
all commercially reasonable efforts to overcome or eliminate any Restrictions
and/or minimize any such costs of prepayment and/or use the other Cash
resources of Holdings and its Subsidiaries (subject to the considerations
above) to make the relevant prepayment. 
If at any time within one year of a prepayment being forgiven due to a
Restriction, such Restriction is removed, any relevant proceeds will at the end
of the then current Interest Period (or, if Base Rate Loans are then
outstanding, immediately) be applied in accordance with the applicable
prepayment provision above (net of any reasonable costs, expenses or taxes
incurred by Holdings and its Subsidiaries or any of their Affiliates and
arising exclusively as a result of compliance with the preceding sentence, and
Holdings and its Subsidiaries shall be permitted to make, directly or
indirectly, a dividend or distribution to its Affiliates in an amount
sufficient to cover such tax liability, costs or expenses).

 64
 

(h)   Prepayment
Certificate.  Concurrently with any
prepayment of the Loans pursuant to Sections 2.14(a) through 2.14(e), Borrowers
shall deliver to Administrative Agent a certificate of an Authorized Officer
demonstrating the calculation of the amount of the applicable net proceeds or
Consolidated Excess Cash Flow, as the case may be.  In the event that Borrowers shall
subsequently determine that the actual amount received exceeded the amount set
forth in such certificate, Borrowers shall promptly make an additional
prepayment of the Loans, and Borrowers shall concurrently therewith deliver to
Administrative Agent a certificate of an Authorized Officer demonstrating the
derivation of such excess.

(i)    Effective Date.  Notwithstanding the foregoing, upon their
receipt of the proceeds of the Term Loans, the Borrowers shall apply a portion
of such proceeds sufficient to, along with the IPO Proceeds (i) prepay in full
the Existing Term Loans which are not being converted by Continuing Lenders
into Term Loans hereunder, (ii) pay all accrued and unpaid interest and fees,
if any, on all Existing Term Loans held by Existing First Lien Lenders that are
not Continuing Lenders, (iii) pay to such Existing First Lien Lender that is
not a Continuing Lender all other amounts then due and owing as a result of the
prepayment of such Lender’s Existing Term Loans, (iv) pay all other Obligations
then due and owing to the Existing First Lien Lenders, in their capacity as
such, under the Existing First Lien Credit Agreement and (vi) pay in full all
other Existing Indebtedness, including accrued and unpaid interest.  It is agreed and understood that the
application of proceeds under this Section 2.14(i) shall be such that the
proceeds of the Domestic Tranche C Term Loans are only applied to satisfy
Existing Indebtedness in respect of the Existing Domestic Term Loans, the
proceeds of the European Term Loan C1 are only applied to satisfy Existing
Indebtedness in respect of the Existing European Term Loan A and the Existing
Second Lien European Term Loan A and the proceeds of the European Term Loan C2
are only applied to satisfy Existing Indebtedness in respect of the Existing
European Term Loan B and the Existing Second Lien European Term Loan B.

2.15.       Application
of Prepayments/Reductions.

(a)   Application of
Voluntary Prepayments by Type of Loans. 
Any prepayment of any Loan pursuant to Section 2.13(a) shall be applied
as specified by the applicable Borrower in the applicable notice of prepayment;
provided, in the event such Borrower fails to specify the Loans to which
any such prepayment shall be applied, such prepayment shall be applied as
follows:

first, with
respect to the U.S. Borrower, to repay outstanding Swing Line Loans to the full
extent thereof;

second, to repay
outstanding Revolving Loans of the applicable Borrower, on a pro rata basis (in
accordance with the respective outstanding principal amounts thereof), to the
full extent thereof; and

third, to prepay
the Term Loans of the applicable Borrower, on a pro rata basis (in accordance
with the respective outstanding principal amounts thereof); and

 65
 

further applied on a pro rata basis to reduce the
scheduled remaining Installments of principal of the Term Loans.

(b)   Application of
Mandatory Prepayments by Type of Loans. 
Any amount required to be paid pursuant to Sections 2.14(a) through
2.14(e) shall be applied as follows:

first, to prepay
Term Loans on a pro rata basis (in accordance with the respective outstanding
principal amounts thereof) and further applied on a pro rata basis to the
remaining scheduled Installments of principal of each Term Loan;

second, to prepay
the Swing Line Loans to the full extent thereof (without any reduction in the
Revolving Commitments);

third, to prepay
the Revolving Loans on a pro rata basis (in accordance with the respective
outstanding principal amounts thereof) to the full extent thereof (without any
reduction in the Revolving Commitments)

fourth, to prepay
outstanding reimbursement obligations with respect to Letters of Credit on a
pro rata basis (in accordance with the respective outstanding principal amounts
thereof); and

fifth, to cash
collateralize Letters of Credit.

(c)   Application of
Prepayments of Loans to Base Rate Loans and Eurodollar Rate Loans.  Considering each Class of Loans being prepaid
separately, any prepayment thereof shall be applied first to Base Rate Loans to
the full extent thereof before application to Eurodollar Rate Loans, in each
case in a manner which minimizes the amount of any payments required to be made
by Borrowers pursuant to Section 2.18(c).

2.16.       General
Provisions Regarding Payments.

(a)   All payments by a
Borrower of principal, interest, fees and other Obligations shall be made in
Dollars or Euro, as applicable, in same day funds, without defense, setoff or
counterclaim, free of any restriction or condition, and delivered to
Administrative Agent not later than 2:00 p.m. (Local Time) on the date due at
the Principal Office designated by Administrative Agent for the account of
Lenders; for purposes of computing interest and fees, funds received by
Administrative Agent after that time on such due date shall be deemed to have been
paid by Borrowers on the next succeeding Business Day.

(b)   All payments in
respect of the principal amount of any Loan (other than voluntary prepayments
of Revolving Loans) shall be accompanied by payment of accrued interest on the
principal amount being repaid or prepaid, and all such payments (and, in any
event, any payments in respect of any Loan on a date when interest is due and
payable with respect to such Loan) shall be applied to the payment of interest
then due and payable before application to principal.

 66
 

(c)   Administrative
Agent (or its agent or sub-agent appointed by it) shall promptly distribute to
each Lender at such address as such Lender shall indicate in writing, such
Lender’s applicable Pro Rata Share of all payments and prepayments of principal
and interest due hereunder, together with all other amounts due thereto,
including, without limitation, all fees payable with respect thereto, to the
extent received by Administrative Agent.

(d)   Notwithstanding
the foregoing provisions hereof, if any Conversion/ Continuation Notice is
withdrawn as to any Affected Lender or if any Affected Lender makes Base Rate
Loans in lieu of its Pro Rata Share of any Eurodollar Rate Loans,
Administrative Agent shall give effect thereto in apportioning payments received
thereafter.

(e)   Subject to the
provisos set forth in the definition of “Interest Period” as they may apply to
Revolving Loans, whenever any payment to be made hereunder with respect to any
Loan shall be stated to be due on a day that is not a Business Day, such
payment shall be made on the next succeeding Business Day and, with respect to
Revolving Loans only, such extension of time shall be included in the
computation of the payment of interest hereunder or of the Revolving Commitment
fees hereunder.

(f)    Borrowers hereby
authorize, upon the request of Borrowers (provided such request shall not be
required if there is a Default or Event of Default continuing), Administrative
Agent to charge Borrower’s accounts with Administrative Agent in order to cause
timely payment to be made to Administrative Agent of all principal, interest,
fees and expenses due hereunder (subject to sufficient funds being available in
its accounts for that purpose).

(g)   Administrative
Agent shall deem any payment by or on behalf of a Borrower hereunder that is
not made in same day funds prior to 2:00 p.m. (Local Time) to be a non-conforming
payment.  Any such payment shall not be
deemed to have been received by Administrative Agent until the later of (i) the
time such funds become available funds, and (ii) the applicable next Business
Day.  Administrative Agent shall give
prompt telephonic notice to the applicable Borrower and each applicable Lender
(confirmed in writing) if any payment is non-conforming.  To the extent not made in same day funds
prior to 5:00 p.m. (Local Time), any non-conforming payment may
constitute or become a Default or Event of Default in accordance with the terms
of Section 8.1(a).  Interest shall
continue to accrue on any principal as to which a non-conforming payment
is made until such funds become available funds (but in no event less than the
period from the date of such payment to the next succeeding applicable Business
Day) at the rate determined pursuant to Section 2.10 from the date such amount
was due and payable until the date such amount is paid in full.

(h)   If an Event of
Default shall have occurred and not otherwise been waived, and the maturity of
the Obligations shall have been accelerated pursuant to Section 8.1, all
payments or proceeds received by Agents hereunder in respect of any of the
Obligations, shall be applied in accordance with the application arrangements
described in Section 7.2 of the Pledge and Security Agreement.

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2.17.       Ratable
Sharing.  Lenders hereby agree among themselves that,
except as otherwise provided in the Collateral Documents with respect to
amounts realized from the exercise of rights with respect to Liens on the
Collateral, if any of them shall, whether by voluntary payment (other than a
voluntary prepayment of Loans made and applied in accordance with the terms
hereof), through the exercise of any right of set-off or banker’s lien,
by counterclaim or cross action or by the enforcement of any right under the
Credit Documents or otherwise, or as adequate protection of a deposit treated
as cash collateral under the Bankruptcy Code or any other applicable
legislation, receive payment or reduction of a proportion of the aggregate
amount of principal, interest, amounts payable in respect of Letters of Credit,
fees and other amounts then due and owing to such Lender hereunder or under the
other Credit Documents (collectively, the “Aggregate
Amounts Due” to such Lender) which is greater than the proportion
received by any other Lender in respect of the Aggregate Amounts Due to such
other Lender, then the Lender receiving such proportionately greater payment
shall (a) notify Administrative Agent and each other Lender of the receipt of
such payment and (b) apply a portion of such payment to purchase participations
(which it shall be deemed to have purchased from each seller of a participation
simultaneously upon the receipt by such seller of its portion of such payment)
in the Aggregate Amounts Due to the other Lenders so that all such recoveries
of Aggregate Amounts Due shall be shared by all Lenders in proportion to the
Aggregate Amounts Due to them; provided, if all or part of such
proportionately greater payment received by such purchasing Lender is
thereafter recovered from such Lender upon the bankruptcy or reorganization of a
Borrower or otherwise, those purchases shall be rescinded and the purchase
prices paid for such participations shall be returned to such purchasing Lender
ratably to the extent of such recovery, but without interest; provided, further, that any proportionately greater amounts received on
account of Loans to the Euro Borrowers shall be applied to purchase
participations in loans to the Euro Borrowers.  Each Borrower expressly consents to the
foregoing arrangement and agrees that any holder of a participation so
purchased may exercise any and all rights of banker’s lien, set-off or
counterclaim with respect to any and all monies owing by such Borrower to that
holder with respect thereto as fully as if that holder were owed the amount of
the participation held by that holder.

2.18.       Making
or Maintaining Eurodollar Rate Loans.

(a)   Inability to
Determine Applicable Interest Rate. 
In the event that Administrative Agent shall have determined (which
determination shall be final and conclusive and binding upon all parties
hereto), on any Interest Rate Determination Date with respect to any Eurodollar
Rate Loans, that by reason of circumstances affecting the London interbank
market adequate and fair means do not exist for ascertaining the interest rate
applicable to such Loans on the basis provided for in the definition of
Adjusted Eurodollar Rate, Administrative Agent shall on such date give notice
(by telefacsimile or by telephone confirmed in writing) to Borrowers and each
Lender of such determination, whereupon (i) no Loans may be made as, or
converted to, Eurodollar Rate Loans (other than those where the interest rate
can be determined in accordance with clauses (c) or (d) of the definition of
Adjusted Eurodollar Rate) until such time as Administrative Agent notifies
Borrowers and Lenders that the circumstances giving rise to such notice no
longer exist, and (ii) any Funding Notice or Conversion/Continuation Notice
given by any Borrower with respect to the Loans in respect of which such
determination was made shall be deemed to be rescinded by such Borrower.

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(b)   Illegality or
Impracticability of Eurodollar Rate Loans. 
In the event that on any date any Lender shall have determined (which
determination shall be final and conclusive and binding upon all parties hereto
but shall be made only after consultation with Borrowers and Administrative
Agent) that the making, maintaining or continuation of its Eurodollar Rate
Loans (i) has become unlawful as a result of compliance by such Lender in good
faith with any law, treaty, governmental rule, regulation, guideline or order
(or would conflict with any such treaty, governmental rule, regulation,
guideline or order not having the force of law even though the failure to
comply therewith would not be unlawful), or (ii) has become impracticable, as a
result of contingencies occurring after the date hereof which materially and
adversely affect the London interbank market or the position of such Lender in
that market, then, and in any such event, such Lender shall be an “Affected Lender” and it shall on that day give
notice (by telefacsimile or by telephone confirmed in writing) to Borrowers and
Administrative Agent of such determination (which notice Administrative Agent
shall promptly transmit to each other Lender). 
Thereafter (1) the obligation of the Affected Lender to make Loans as,
or to convert Loans to, Eurodollar Rate Loans shall be suspended until such
notice shall be withdrawn by the Affected Lender, (2) to the extent such
determination by the Affected Lender relates to a Eurodollar Rate Loan then
being requested by a Borrower pursuant to a Funding Notice or a
Conversion/Continuation Notice, the Affected Lender shall make such Loan as (or
continue such Loan as or convert such Loan to, as the case may be) a Base Rate
Loan, (3) the Affected Lender’s obligation to maintain its outstanding
Eurodollar Rate Loans (the “Affected Loans”) shall be terminated at the earlier to occur of the
expiration of the Interest Period then in effect with respect to the Affected
Loans or when required by law, (4) the Affected Loans in Dollars shall
automatically convert into Base Rate Loans on the date of such termination and
(5) the interest rate on the Affected Loans in Euro shall be determined in
accordance with clauses (c) or (d) of the definition of Adjusted Eurodollar
Rate.  Notwithstanding the foregoing, to
the extent a determination by an Affected Lender as described above relates to
a Eurodollar Rate Loan then being requested by a Borrower pursuant to a Funding
Notice or a Conversion/Continuation Notice, such Borrower shall have the
option, subject to the provisions of Section 2.18(c), to rescind such Funding
Notice or Conversion/Continuation Notice as to all Lenders by giving notice (by
telefacsimile or by telephone confirmed in writing) to Administrative Agent of
such rescission on the date on which the Affected Lender gives notice of its
determination as described above (which notice of rescission Administrative
Agent shall promptly transmit to each other Lender).  Except as provided in the immediately
preceding sentence, nothing in this Section 2.18(b) shall affect the obligation
of any Lender other than an Affected Lender to make or maintain Loans as, or to
convert Loans to, Eurodollar Rate Loans in accordance with the terms hereof.

(c)   Compensation
for Breakage or Non-Commencement of Interest Periods.  Each Borrower shall compensate each Lender,
upon written request by such Lender (which request shall set forth the basis
for requesting such amounts), for all reasonable actual out-of-pocket losses,
expenses and liabilities (including any interest paid by such Lender to Lenders
of funds borrowed by it to make or carry its Eurodollar Rate Loans and any
actual out-of-pocket loss, expense or liability sustained by such Lender in
connection with the liquidation or re-employment of such funds but
excluding loss of anticipated profits) which such Lender may sustain:  (i) if for any reason (other than a default
by such Lender) a borrowing of any Eurodollar Rate Loan does not occur on a
date specified therefor in a Funding Notice or a

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telephonic
request for borrowing, or a conversion to or continuation of any Eurodollar
Rate Loan does not occur on a date specified therefor in a
Conversion/Continuation Notice or a telephonic request for conversion or
continuation; (ii) if any prepayment or other principal payment of, or any
conversion of, any of its Eurodollar Rate Loans occurs on a date prior to the
last day of an Interest Period applicable to that Loan; or (iii) if any
prepayment of any of its Eurodollar Rate Loans is not made on any date
specified in a notice of prepayment given by such Borrower.

(d)   Booking of
Eurodollar Rate Loans.  Subject to
Sections 2.20 and 2.21, any Lender may make, carry or transfer Eurodollar Rate
Loans at, to, or for the account of any of its branch offices or the office of
an Affiliate of such Lender.

(e)   Certificates
for Reimbursement.  A certificate of
a Lender or the Issuing Bank setting forth the amount or amounts necessary to
compensate such Lender or the Issuing Bank or its holding company, as the case
may be, pursuant to Sections 2.18 or 2.19 and delivered to the Borrowers shall
be conclusive absent manifest error.  The
Borrowers shall pay such Lender or the Issuing Bank, as the case may be, the
amount shown as due on any such certificate within 10 days after receipt
thereof.

2.19.       Increased
Costs; Capital Adequacy.

(a)           Compensation For Increased Costs
and Taxes.  Subject to the provisions
of Section 2.20 (which shall be controlling with respect to the matters covered
thereby), in the event that any Lender (which term shall include Issuing Bank
for purposes of this Section 2.19(a)) shall determine (which determination
shall, absent manifest error, be final and conclusive and binding upon all
parties hereto) that any law, treaty or governmental rule, regulation or order,
or any change therein or in the interpretation, administration or application
thereof (including the introduction of any new law, treaty or governmental
rule, regulation or order), or any determination of a court or governmental
authority, in each case that becomes effective after the date hereof, or
compliance by such Lender with any guideline, request or directive issued or
made after the date hereof by any central bank or other governmental or quasi-governmental
authority (whether or not having the force of law):  (i) subjects such Lender (or its applicable
lending office) to any additional Tax (other than any Tax on the overall net
income of such Lender) with respect to this Agreement or any of the other
Credit Documents or any of its obligations hereunder or thereunder or any
payments to such Lender (or its applicable lending office) of principal,
interest, fees or any other amount payable hereunder; (ii) imposes, modifies or
holds applicable any reserve (including any marginal, emergency, supplemental,
special or other reserve), special deposit, compulsory loan, FDIC insurance or
similar requirement against assets held by, or deposits or other liabilities in
or for the account of, or advances or loans by, or other credit extended by, or
any other acquisition of funds by, any office of such Lender (other than any
such reserve or other requirements with respect to Eurodollar Rate Loans that are
reflected in the definition of Adjusted Eurodollar Rate); or (iii) imposes any
other condition (other than with respect to a Tax matter) on or affecting such
Lender (or its applicable lending office) or its obligations hereunder or the
London interbank market or the European interbank market; and the result of any
of the foregoing is to increase the cost to such Lender of agreeing to make,
making or maintaining Loans hereunder or to reduce any amount received or
receivable by

 70

such Lender (or its applicable lending office) with respect thereto;
then, in any such case, the Borrowers shall promptly pay to such Lender, upon
receipt of the statement referred to in the next sentence, such additional
amount or amounts (in the form of an increased rate of, or a different method
of calculating, interest or otherwise as such Lender in its sole discretion
shall determine) as may be necessary to compensate such Lender for any such
increased cost or reduction in amounts received or receivable hereunder.  Such Lender shall deliver to Borrowers (with
a copy to Administrative Agent) a written statement, setting forth in
reasonable detail the basis for calculating the additional amounts owed to such
Lender under this Section 2.19(a), which statement shall be conclusive and
binding upon all parties hereto absent manifest error.

(b)   Capital Adequacy Adjustment.  In the event that any Lender (which term
shall include Issuing Bank for purposes of this Section 2.19(b)) shall have
determined that the adoption, effectiveness, phase-in or applicability
after the Effective Date of any law, rule or regulation (or any provision
thereof) regarding capital adequacy, or any change therein or in the
interpretation or administration thereof by any Governmental Authority, central
bank or comparable agency charged with the interpretation or administration
thereof, or compliance by any Lender (or its applicable lending office) with
any guideline, request or directive regarding capital adequacy (whether or not
having the force of law) of any such Governmental Authority, central bank or
comparable agency, has or would have the effect of reducing the rate of return
on the capital of such Lender or any corporation controlling such Lender as a
consequence of, or with reference to, such Lender’s Loans or Revolving
Commitments or Letters of Credit, or participations therein or other
obligations hereunder with respect to the Loans or the Letters of Credit to a
level below that which such Lender or such controlling corporation could have
achieved but for such adoption, effectiveness, phase-in, applicability,
change or compliance (taking into consideration the policies of such Lender or
such controlling corporation with regard to capital adequacy), then from time
to time, within five Business Days after receipt by Borrowers from such Lender
of the statement referred to in the next sentence, Borrowers shall pay to such
Lender such additional amount or amounts as will compensate such Lender or such
controlling corporation on an after-tax basis for such reduction. Such
Lender shall deliver to Borrowers (with a copy to Administrative Agent) a
written statement, setting forth in reasonable detail the basis for calculating
the additional amounts owed to Lender under this Section 2.19(b), which
statement shall be conclusive and binding upon all parties hereto absent
manifest error.

2.20.   Taxes; Withholding, etc.

(a)   Payments to Be Free and Clear.  Subject to Section 2.20(b), all sums payable
by any Credit Party hereunder and under the other Credit Documents shall
(except to the extent required by law) be paid free and clear of, and without
any deduction or withholding on account of, any Tax (other than a Tax on the
overall net income of any Lender) imposed, levied, collected, withheld or
assessed by any Governmental Authority or any political subdivision or taxing
authority thereof or therein.

(b)   Withholding of Taxes.  If any Credit Party or any other Person is
required by law to make any deduction or withholding on account of any Tax
(other than a Tax on the overall net income) from any sum paid or payable by
any Credit Party to Administrative 

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Agent or any Lender (which term shall include
Issuing Bank and Collateral Agent for purposes of this Section 2.20(b)) under
any of the Credit Documents:  (i) the
applicable Borrower shall notify Administrative Agent of any such requirement
or any change in any such requirement as soon as reasonably possible after such
Borrower becomes aware of it; (ii) the applicable Borrower shall pay any such
Tax before the date on which penalties attach thereto, such payment to be made
(if the liability to pay is imposed on any Credit Party) for its own account or
(if that liability is imposed on Administrative Agent or such Lender, as the
case may be) on behalf of and in the name of Administrative Agent or such
Lender; (iii) the sum payable by such Credit Party in respect of which the
relevant deduction, withholding or payment is required shall be increased to
the extent necessary to ensure that, after the making of that deduction,
withholding or payment, Administrative Agent or such Lender, as the case may
be, receives on the relevant due date a net sum equal to what it would have
received had no such deduction, withholding or payment been required or made; and
(iv) within thirty days after paying any sum from which any deduction or
withholding has been made, the applicable Borrower shall deliver to
Administrative Agent evidence reasonably satisfactory to the Administrative
Agent of such deduction, withholding or payment and of the remittance thereof
to the relevant tax or other authority; provided, no such additional
amount shall be required to be paid to any Lender under clause (iii) above that
are United States withholding taxes imposed on amounts payable to such Lender
under the Domestic Loan at the time such Lender becomes a party to this
Agreement, except to the extent that (a) such Lender’s assignor (if any)
was entitled, at the time of assignment, to receive additional amounts from the
Borrowers with respect to Taxes pursuant to this Section 2.20 or (b) such
additional amount is attributable to an interest or participation in any Loan
or other obligation that such Lender was required to acquire pursuant to
Section 2.17.

(c)   Payment of Other Taxes.  In addition, the Borrowers shall pay any and
all present or future stamp or documentary taxes and any other excise or
property taxes, charges or similar levies arising from any payment made
hereunder or from the execution, delivery or enforcement of, or otherwise with
respect to, this Agreement or any other Credit Document to the relevant
Governmental Authority in accordance with applicable law.

(d)   Evidence of Exemption From U.S.
Withholding Tax.  Each Lender making
a loan to U.S. Borrower that is not a United States Person (as such term is
defined in Section 7701(a)(30) of the Internal Revenue Code) for U.S. federal
income tax purposes (a “Non-US Lender”)
shall deliver to Administrative Agent for transmission to U.S. Borrower, on or
prior to the Effective Date (in the case of each Lender listed on the signature
pages hereof on the Effective Date) or on or prior to the date of the
Assignment Agreement pursuant to which it becomes a Lender (in the case of each
other Lender), and at such other times as may be necessary in the determination
of U.S. Borrower or Administrative Agent (each in the reasonable exercise of
its discretion), (i) two original copies of Internal Revenue Service Form W-8BEN,
W-8ECI and/or W-8IMY (or any successor forms), properly completed and
duly executed by such Lender, and such other documentation required under the
Internal Revenue Code or reasonably requested by U.S. Borrower to establish
that such Lender is not subject to (or is subject to a reduced rate of)
deduction or withholding of United States federal income tax with respect to
any payments to such Lender of principal, interest, fees or other amounts
payable under any of the Credit Documents, or (ii) if such Lender is not a “bank”
or other Person described in Section 881(c)(3) of the Internal Revenue 

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Code and cannot deliver Internal Revenue
Service Form W-8ECI pursuant to clause (i) above, a Certificate re Non-Bank
Status together with two original copies of Internal Revenue Service Form W-8BEN
and/or W-8IMY (or any successor form), properly completed and duly executed by
such Lender, and such other documentation required under the Internal Revenue
Code or reasonably requested by U.S. Borrower to establish that such Lender is
not subject to deduction or withholding of United States federal income tax
with respect to any payments to such Lender of interest payable under any of
the Credit Documents.  If any Lender
provides an Internal Revenue Service Form W-8IMY, such Lender must also attach
the additional documentation that must be transmitted with Internal Revenue
Service Form W-8IMY, including the appropriate forms described in this Section
2.20(d).  Each Lender making a Loan to
U.S. Borrower that is a United States person (as such term is defined in
Section 7701(a)(30) of the Internal Revenue Code) and is not a person whose
name indicates that it is an “exempt recipient” (as such term is defined in
Section 1.6049-4(c)(ii) of the United States Treasury Regulations) shall
deliver to U.S. Borrower and Administrative Agent on or prior to the Effective
Date (in the case of each Lender listed on the signature pages hereof on the
Effective Date) or on or prior to the date of the Assignment Agreement pursuant
to which it becomes a Lender (in the case of each other Lender), and at such
other times as may be necessary in the determination of U.S. Borrower and
Administrative Agent (each in the reasonable exercise of its discretion) two
original copies of Internal Revenue Service Form W-9 (or successor forms).  Notwithstanding anything to the contrary
contained herein, a Non-US Lender shall not be required to deliver any form or
statement pursuant to this Section 2.20(d) that such Non-US Lender is not
legally able to deliver.  Each Lender
required to deliver any forms, certificates or other evidence with respect to
United States federal income tax withholding matters pursuant to this Section
2.20(d) hereby agrees, from time to time after the initial delivery by such
Lender of such forms, certificates or other evidence, whenever a lapse in time
or change in circumstances renders such forms, certificates or other evidence
obsolete or inaccurate in any material respect, that such Lender shall promptly
deliver to Administrative Agent for transmission to U.S. Borrower two new
original copies of Internal Revenue Service Form W-8BEN, W-8ECI,
W-8IMY or W-9, or a Certificate re Non-Bank Status and two original
copies of Internal Revenue Service Form W-8BEN or W-8IMY (or any
successor form), as the case may be, properly completed and duly executed by
such Lender, and such other documentation required under the Internal Revenue
Code or reasonably requested by U.S. Borrower to confirm or establish that such
Lender is not subject to (or is subject to a reduced rate of) deduction or
withholding of United States federal income tax with respect to payments to
such Lender under the Credit Documents, or notify Administrative Agent and U.S.
Borrower of its inability to deliver any such forms, certificates or other
evidence.  Borrowers shall not be
required to pay any additional amount to any Non-US Lender under Section
2.20(b)(iii) if such Lender shall have failed (1) to deliver the forms,
certificates or other evidence referred to in this Section 2.20(d), or (2) to
notify Administrative Agent and Borrowers of its inability to deliver any such
forms, certificates or other evidence, as the case may be; provided, if
such Lender shall have satisfied the requirements of the first and second
sentences of this Section 2.20(d) on the Effective Date or on the date of the
Assignment Agreement pursuant to which it became a Lender, as applicable,
nothing in this last sentence of Section 2.20(d) shall relieve U.S. Borrower of
its obligation to pay any additional amounts pursuant this Section 2.20 in the
event that, as a result of any change in any applicable law, 

 73
 

treaty or governmental rule, regulation or
order, or any change in the interpretation, administration or application
thereof, such Lender is no longer properly entitled to deliver forms,
certificates or other evidence at a subsequent date establishing the fact that
such Lender is not subject to withholding as described herein.

(e)   Evidence of Exemption from Non-U.S.
Withholding Tax.  A Lender that is
entitled to an exemption from or reduction of non-U.S. withholding tax under
the law of the jurisdiction in which any Borrower is subject to tax, or any
treaty to which such jurisdiction is a party, with respect to payments under
this Agreement shall deliver, within a reasonable period of time, to the
relevant Borrower (with a copy to the Collateral Agent), as reasonably
requested by such Borrower, such properly completed and executed documentation
prescribed by applicable law (including, if relevant, a certificate of
residence) as will permit such payments to be made without withholding or at a
reduced rate, provided that such Lender is legally entitled to complete,
execute and deliver such documentation.

(f)   Borrowers Indemnification for Failure to
Pay Required Taxes, etc.  If
Borrowers fail to pay (or cause to be paid) any Taxes pursuant to Section
2.20(b)(ii) or (c) when due to the appropriate tax authority or fail to remit
to the Administrative Agent the required receipts or other required documentary
evidence, the Borrowers shall indemnify the Administrative Agent and the Lenders
(which term shall include Issuing Bank and Collateral Agents for purposes of
this Section 2.20(f)) for any incremental Taxes that may become payable by the
Administrative Agent or any Lender as a result of any such failure.  Payment under this indemnification must be
made within fifteen days from the date any Administrative Agent or any Lender
or any of their respective Affiliates makes written demand therefore
accompanied by appropriate evidence of the Tax and its payment.

(g)   Treatment of Certain Refunds.  If the Administrative Agent or a Lender
(which term shall include the Issuing Bank and Collateral Agent for purposes of
this Section 2.20(g)) determines, in its sole discretion, that it has received
a refund of any Taxes or other taxes (as described in Section 2.20(c)) as to
which it has been indemnified by a Credit Party or with respect to which the
Credit Party has paid additional amounts pursuant to this Section, it shall pay
to such Credit Party an amount equal to such refund (but only to the extent of
indemnity payments made, or additional amounts paid, by the Credit Party under
this Section with respect to the Taxes or other taxes (as described in Section
2.20(c)) giving rise to such refund), net of all out-of-pocket expenses of the
Administrative Agent or such Lender, as applicable, and without interest (other
than any interest paid by the relevant Governmental Authority with respect to
such refund), provided that the Credit Party, upon the request of the
Administrative Agent or such Lender, agrees to repay the amount paid over to
the Credit Party (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 paragraph 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 that it deems confidential) to any Credit Party or any
other Person.

2.21.   Obligation to Mitigate.  Each Lender (which term shall include Issuing
Bank for purposes of this Section 2.21) agrees that, as promptly as practicable
after the officer of such 

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Lender responsible for
administering its Loans or Letters of Credit, as the case may be, becomes aware
of the occurrence of an event or the existence of a condition that would cause
such Lender to become an Affected Lender or that would entitle such Lender to
receive payments under Section 2.18, 2.19 or 2.20, it will, to the extent not
inconsistent with the internal policies of such Lender and any applicable legal
or regulatory restrictions, use reasonable efforts to (a) make, issue, fund or
maintain its Credit Extensions, including any Affected Loans, through another
office of such Lender, or (b) take such other measures as such Lender may deem
reasonable, if as a result thereof the circumstances which would cause such
Lender to be an Affected Lender would cease to exist or the additional amounts
which would otherwise be required to be paid to such Lender pursuant to Section
2.18, 2.19 or 2.20 would be materially reduced and if, as determined by such
Lender in its sole discretion, the making, issuing, funding or maintaining of
such Revolving Commitments, Loans or Letters of Credit through such other
office or in accordance with such other measures, as the case may be, would not
otherwise adversely affect such Revolving Commitments, Loans or Letters of
Credit or the interests of such Lender; provided, such Lender will not
be obligated to utilize such other office pursuant to this Section 2.21 unless
the Borrowers agree to pay all incremental
expenses incurred by such Lender as a result of utilizing such other office as
described above.  A certificate as to the
amount of any such expenses payable by Borrowers pursuant to this Section 2.21
(setting forth in reasonable detail the basis for requesting such amount)
submitted by such Lender to Borrowers (with a copy to Administrative Agent) shall
be conclusive absent manifest error.

2.22.   Defaulting Lenders.  Anything contained herein to the contrary
notwithstanding, in the event that any Lender defaults (a “Defaulting Lender”) in its obligation to
fund (a “Funding Default”) any
Revolving Loan or its portion of any unreimbursed payment under Section
2.3(b)(iv) or 2.4(e) (in each case, a “Defaulted
Loan”), then (a) during any Default Period with respect to such
Defaulting Lender, such Defaulting Lender shall be deemed not to be a “Lender”
for purposes of voting on any matters (including the granting of any consents
or waivers) with respect to any of the Credit Documents; (b) to the extent
permitted by applicable law, until such time as the Default Excess with respect
to such Defaulting Lender shall have been reduced to zero, (i) any voluntary
prepayment of the Revolving Loans shall, if the applicable Borrower so directs
at the time of making such voluntary prepayment, be applied to the Revolving
Loans of other Lenders as if such Defaulting Lender had no Revolving Loans
outstanding and the Domestic Revolving Exposure and European Revolving Exposure
of such Defaulting Lender were zero, and (ii) any mandatory prepayment of the
Revolving Loans shall, if the applicable Borrower so directs at the time of
making such mandatory prepayment, be applied to the Revolving Loans of other
Lenders (but not to the Revolving Loans of such Defaulting Lender) as if such
Defaulting Lender had funded all Defaulted Loans of such Defaulting Lender, it
being understood and agreed that Borrowers shall be entitled to retain any
portion of any mandatory prepayment of the Revolving Loans that is not paid to
such Defaulting Lender solely as a result of the operation of the provisions of
this clause (b); (c) such Defaulting Lender’s Revolving Commitment and
outstanding Revolving Loans and such Defaulting Lender’s Pro Rata Share of the
Letter of Credit Usage shall be excluded for purposes of calculating the
Revolving Commitment fee payable to Lenders in respect of any day during any
Default Period with respect to such Defaulting Lender, and such Defaulting
Lender shall not be entitled to receive any Revolving Commitment fee pursuant
to Section 2.11 with respect to such Defaulting Lender’s Revolving Commitment
in respect of any Default Period with respect to such Defaulting Lender; (d)
the Total Utilization of Revolving Commitments as at any date of 

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determination shall be
calculated as if such Defaulting Lender had funded all Defaulted Loans of such
Defaulting Lender and (e) amendments under Section 11.5 shall be calculated as
if such Defaulting Lender’s Loans and Commitments did not exist.  No Revolving Commitment of any Lender shall
be increased or otherwise affected, and, except as otherwise expressly provided
in this Section 2.22, performance by each Borrower of its obligations hereunder
and the other Credit Documents shall not be excused or otherwise modified as a
result of any Funding Default or the operation of this Section 2.22.  The rights and remedies against a Defaulting
Lender under this Section 2.22 are in addition to other rights and remedies
which Borrowers may have against such Defaulting Lender with respect to any
Funding Default and which Administrative Agent or any Lender may have against
such Defaulting Lender with respect to any Funding Default.

2.23.   Removal or Replacement of a Lender.  Anything contained herein to the contrary
notwithstanding, in the event that:  (a)
(i) any Lender (an “Increased-Cost
Lender”) shall give notice to Borrowers that such Lender is an
Affected Lender or that such Lender is entitled to receive payments under
Section 2.18, 2.19 or 2.20, (ii) the circumstances which have caused such
Lender to be an Affected Lender or which entitle such Lender to receive such
payments shall remain in effect, and (iii) such Lender shall fail to withdraw
such notice within five Business Days after Borrowers’ request for such
withdrawal; or (b) (i) any Lender shall become a Defaulting Lender, (ii) the
Default Period for such Defaulting Lender shall remain in effect, and (iii)
such Defaulting Lender shall fail to cure the default as a result of which it
has become a Defaulting Lender within five Business Days after Borrowers’
request that it cure such default; or (c) in connection with any proposed
amendment, modification, termination, waiver or consent with respect to any of
the provisions hereof as contemplated by Section 11.5(b), the consent of
Requisite Lenders shall have been obtained but the consent of one or more of
such other Lenders (each a “Non-Consenting
Lender”) whose consent is required shall not have been obtained;
then, with respect to each such Increased-Cost Lender, Defaulting Lender
or Non-Consenting Lender (the “Terminated Lender”),
Borrowers may, by giving written notice to Administrative Agent and any
Terminated Lender of its election to do so, elect to cause such Terminated
Lender (and such Terminated Lender hereby irrevocably agrees) to assign its
outstanding Loans and its Revolving Commitments, if any, in full to one or more
Eligible Assignees (each a “Replacement Lender”)
in accordance with the provisions of Section 11.6 and Borrowers shall pay the
fees, if any, payable thereunder in connection with any such assignment from an
Increased-Cost Lender or a Non-Consenting Lender and the Defaulting Lender
shall pay the fees, if any, payable thereunder in connection with any such
assignment from such Defaulting Lender; provided, (1) on the date of
such assignment, the Replacement Lender shall pay to Terminated Lender an
amount equal to the sum of (A) an amount equal to the principal of, and all
accrued but unpaid interest on, all outstanding Loans of the Terminated Lender,
(B) an amount equal to all unreimbursed drawings that have been funded by such
Terminated Lender, together with all then unpaid interest with respect thereto
at such time and (C) an amount equal to all accrued, but theretofore unpaid
fees owing to such Terminated Lender pursuant to Section 2.11; and (2) on the
date of such assignment, Borrowers shall pay any amounts payable to such
Terminated Lender pursuant to Section 2.18(c), 2.19 or 2.20; or otherwise as if
it were a prepayment; provided, Borrowers may not make such election
with respect to any Terminated Lender that is also an Issuing Bank unless,
prior to the effectiveness of such election, Borrowers shall have caused each
outstanding Letter of Credit issued thereby to be cancelled or back
stopped.  Upon the prepayment of all
amounts owing to any Terminated Lender and the termination of such Terminated
Lender’s Revolving Commitments, if any, such 

 76
 

Terminated Lender shall
no longer constitute a “Lender” for purposes hereof; provided, any
rights of such Terminated Lender to indemnification hereunder shall survive as
to such Terminated Lender.

2.24.   Incremental Facilities.  Any Borrower may by written notice to
Administrative Agent elect to request the establishment of one or more new term
loan commitments (the “New Term Loan
Commitments”), by an amount not in excess of the Dollar Equivalent
of  $150,000,000 in the aggregate and not
less than the Dollar Equivalent of $25,000,000 individually (or such lesser
amount which shall be approved by Administrative Agent or such lesser amount
that shall constitute the difference between the Dollar Equivalent of  $150,000,000 and all such New Term Loan
Commitments obtained prior to such date), and integral multiples of $5,000,000
in excess of that amount.  Each such
notice shall specify (A) the date (each, an “Increased
Amount Date”) on which such Borrower proposes that the New Term Loan
Commitments shall be effective, which shall be a date not less than 10 Business
Days after the date on which such notice is delivered to Administrative Agent,
(B) the identity of each Lender or other Person that is an Eligible Assignee
(each, a “New Term Loan Lender”)
to whom such Borrower proposes any portion of such New Term Loan Commitments be
allocated and the amounts of such allocations and (C) whether, and in what
amounts, such New Term Loan Commitments shall be for Domestic Tranche C Term
Loans and/or European Term Loans; provided that Administrative Agent may
elect or decline to arrange such New Term Loan commitments in its sole
discretion and any Lender approached to provide all or a portion of the New
Term Loan Commitments may elect or decline, in its sole discretion, to provide
a New Term Loan Commitment.  Such New
Term Loan Commitments shall become effective as of such Increased Amount Date; provided
that (1) no Default or Event of Default shall exist on such Increased
Amount Date before or after giving effect to such New Term Loan Commitments;
(2) both before and after giving effect to the making of any Series of New Term
Loans, each of the conditions set forth in Section 3.2 shall be satisfied; (3)
the pro forma Leverage Ratio shall be equal to or less than 4.50:1.00, as
determined on the basis of the financial statements most recently delivered to
Administrative Agent; (4) the New Term Loan Commitments shall be effected
pursuant to one or more Joinder Agreements executed and delivered by the applicable
Borrower, the New Term Loan Lender and Administrative Agent, and each of which
shall be recorded in the Register and each New Term Loan Lender shall be
subject to the requirements set forth in Section 2.20(d); (5) the
applicable Borrower shall make any payments required pursuant to Section
2.18(c) in connection with the New Term Loan Commitments; and (6) the
applicable Borrower shall deliver or cause to be delivered any legal opinions
or other documents reasonably requested by Administrative Agent in connection
with any such transaction. Any New Term Loans made on an Increased Amount Date
shall be designated a separate series (a “Series”)
of New Term Loans for all purposes of this Agreement.

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

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Administrative Agent shall notify Lenders promptly upon receipt of the
applicable Borrower’s notice of each Increased Amount Date and in respect
thereof the Series of New Term Loan Commitments and the New Term Loan Lenders
of such Series, subject to the assignments contemplated by this Section 2.24.

The terms and provisions of the New Term Loans and New Term Loan
Commitments of any Series shall be, except as otherwise set forth herein or in
the Joinder Agreement, identical to the Term Loans.  In any event (i) the weighted average life to
maturity of all New Term Loans of any Series shall be no shorter than the
weighted average life to maturity of the Term Loans, (ii) the applicable New
Term Loan Maturity Date of each Series shall be no shorter than the latest of
the final maturity of the Term Loans, (iii) the rate of interest applicable to
the New Term Loans of each Series shall be determined by Borrower and the
applicable new Lenders and shall be set forth in each applicable Joinder
Agreement; provided  however that the interest rate applicable to
the New Term Loans (after giving effect to all upfront or similar fees or
original issue discount payable with respect to such New Term Loans) shall not
be greater than the highest interest rate that may, under any circumstances, be
payable with respect to Term Loans plus 0.50% per annum unless the interest
rate with respect to the Term Loan is increased so as to equal the difference
between the interest rate applicable to the New Term Loans (after giving effect
to all upfront or similar fees or original issue discount payable with respect
to such New Term Loans) and the corresponding interest rate applicable to the
Term Loans minus 0.50% per annum. 
Each Joinder Agreement may, without the consent of any other Lenders,
effect such amendments to this Agreement and the other Credit Documents as may
be necessary or appropriate, in the opinion of Administrative Agent to effect
the provision of this Section 2.24.

SECTION
3.   CONDITIONS PRECEDENT

3.1.   Closing Date.  The obligation of each Lender to make a Credit
Extension on the Closing Date was subject to the satisfaction, or waiver in
accordance with Section 11.5, of the conditions set forth in Section 3.1 of the
Existing First Lien Credit Agreement.

3.2.  
Conditions to Each Credit Extension.

(a)   Conditions Precedent.  The obligation of each Lender to make any
Loan, or Issuing Bank to issue any Letter of Credit, on any Credit Date,
including (except as to conditions (i) and (iv) set forth below) the Effective
Date, are subject to the satisfaction, or waiver in accordance with Section
11.5, of the following conditions precedent:

(i)   Administrative Agent shall have received a
fully executed and delivered Funding Notice or Issuance Notice, as the case may
be;

(ii)   after making the Credit Extensions requested
on such Credit Date, the Total Utilization of Revolving Commitments shall not
exceed the Revolving Commitments then in effect;

(iii)   as of such Credit Date, the representations
and warranties contained herein and in the other Credit Documents shall be true
and correct in all material respects on and as of that Credit Date to the same
extent as though made on and as of that date, 

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except to the extent such representations and
warranties specifically relate to an earlier date, in which case such representations
and warranties shall have been true and correct in all material respects on and
as of such earlier date;

(iv)   as of such Credit Date, no event shall have
occurred and be continuing or would result from the consummation of the
applicable Credit Extension that would constitute an Event of Default or a
Default; and

(v)   on or before the date of issuance of any
Letter of Credit, Administrative Agent shall have received all other
information required by the applicable Issuance Notice, and such other
documents or information as Issuing Bank may reasonably require in connection
with the issuance of such Letter of Credit.

(b)   Notices.  Any Notice shall be executed by an Authorized
Officer in a writing delivered to Administrative Agent.  In lieu of delivering a Notice, Borrowers may
give Administrative Agent telephonic notice by the required time of any
proposed borrowing, conversion/continuation or issuance of a Letter of Credit,
as the case may be; provided each such notice shall be promptly confirmed
in writing by delivery of the applicable Notice to Administrative Agent on or
before the applicable date of borrowing, continuation/conversion or
issuance.  Neither Administrative Agent
nor any Lender shall incur any liability to Borrowers in acting upon any
telephonic notice referred to above that Administrative Agent believes in good
faith to have been given by a duly authorized officer or other person
authorized on behalf of Borrowers or for otherwise acting in good faith.

3.3.   Effective Date.  The amendments set forth herein and the
occurrence of the borrowing the Term Loans under this Agreement shall be
effective as of the date on which each of the following conditions shall have
been satisfied (or waived in accordance with Section 11.5 of the Existing First
Lien Credit Agreement):

(a)   The Administrative Agent shall have received
copies of executed signature pages to this Agreement from (i) each Credit
Party, (ii) the Administrative Agent on behalf of each Term Loan Lender and
each Continuing Lender that has executed and delivered a Lender Consent Letter
and (iii) the Administrative Agent on behalf of Requisite Lenders (as defined
in the Existing First Lien Credit Agreement), which have executed and delivered
Lender Consent Letters.

(b)   The Borrowers shall have paid all fees,
costs and expenses owing to the Administrative Agent and its counsel invoiced
to the Borrowers on or before the Effective Date and reimbursable by the
Borrowers under the terms of the Existing First Lien Credit Agreement.  The Administrative Agent shall have received,
for its own account or for the account of each Lender (as defined in the
Existing First Lien Credit Agreement) that is not a Continuing Lender all
interest and fees accrued under the Existing First Lien Credit Agreement
through the Effective Date.

(c)   The Collateral Agent shall have received (i)
each Effective Date Collateral Document originally executed and delivered by
each applicable Credit Party and (ii) evidence that each Credit Party shall
have taken or caused to be taken any other 

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action, executed and delivered or caused to
be executed and delivered any other agreement, document and instrument
(including, without limitation, UCC financing statements, originals of
securities, instruments and chattel paper and any agreements governing deposit
and/or securities accounts as provided therein) and made or caused to be made
any other filing and recording (other than as set forth herein) reasonably
required by Collateral Agent.

(d)   The Administrative Agent shall have received
originally executed copies of the favorable written opinions of
(i) Kirkland & Ellis LLP, special New York counsel for Credit Parties
in the form of Exhibit D-1 and (ii) opinions reasonably requested by
Administrative Agent from counsel in Canada, the Netherlands, the United
Kingdom, Luxemburg, Germany and Switzerland, in the form of Exhibits D-2, D-3,
D-4, D-5, D-6, D-7, D-8, D-9, D-10 and D-11, dated as of the Effective Date and
otherwise in form and substance reasonably satisfactory to Administrative Agent
and Syndication Agent (and each Credit Party hereby instructs such counsel to
deliver such opinions to Agents and Lenders).

(e)   Solera Holdings, Inc. shall have consummated a Qualifying IPO and
received the IPO Proceeds in an aggregate amount of not less than $250,000,000.

(f)   The Borrowers shall have repaid in full all Existing Term Loans with
the proceeds of the Term Loans hereunder and Holdings and the Borrowers shall
have repaid in full, or shall have caused the repayment in full of, all other
Existing Indebtedness with the proceeds of the Term Loans and the IPO Proceeds,
in each case in accordance with the provisions of this Agreement, and
shall have delivered to Administrative Agent all documents or instruments
reasonably necessary to release all Liens securing such other Existing
Indebtedness or other obligations of Holdings and its Subsidiaries thereunder
being repaid on the Effective Date.

(g)   The Administrative Agent shall
have received a copy of the resolutions, in form and substance reasonably
satisfactory to the Administrative Agent, of the board of directors or other
governing body, as applicable, of each Credit Party as of the Effective Date
(or a duly authorized committee thereof) authorizing (a) the execution, delivery
and performance of the Credit Documents (and any agreements relating thereto)
to which it is a party and (b) in the case of the Borrowers, the
extensions of credit contemplated hereunder; provided that, in lieu of
delivery of each of the resolutions set forth in this Section 3.3(g), each
applicable Credit Party may deliver a certificate executed by an Authorized
Officer of such Credit Party certifying that there have been no material
amendments to those resolutions previously delivered to the Administrative
Agent on the Closing Date pursuant to Section 3.1 of the Existing First Lien
Credit Agreement.

(h)   The Administrative Agent shall
have received true and complete copies of the certificate of incorporation and
by laws (or equivalent organizational documents) of each Credit Party as of the
Effective Date; provided that, in lieu of delivery of each of the
documents set forth in this Section 3.3(h), each applicable Credit Party may
deliver a certificate executed by an Authorized Officer of such Credit Party 

 80
 

certifying that there have been no material
amendments to those documents previously delivered to the Administrative Agent
on the Closing Date pursuant to Section 3.1 of the Existing First Lien Credit
Agreement.

(i)   On the Effective Date, the
Administrative Agent shall have received a Solvency Certificate from Holdings
in form, scope and substance reasonably satisfactory to Administrative Agent,
and demonstrating that after giving effect to the consummation of the borrowing
under this Agreement and any rights of contribution, the Credit Parties, on a
consolidated basis, are and will be Solvent.

(j)   The Leverage Ratio as of the
Effective Date, after giving pro forma effect to the transactions contemplated
by this Agreement and the receipt of the IPO Proceeds, shall not be greater
than 4.50:1.00.

(k)   The Administrative Agent shall have received
a duly executed funds flow memorandum, with respect to the disbursement on the
Effective Date of the proceeds of the Loans made on such date.

(l)   The Borrowers shall have
delivered to the Administrative Agent an originally executed Effective Date
Certificate, together with all attachments thereto.

SECTION
4.   REPRESENTATIONS AND WARRANTIES

In order to induce Lenders and Issuing Bank to enter into this Agreement
and to make each Credit Extension to be made thereby, each Credit Party
represents and warrants to each Lender and Issuing Bank, on the Effective Date
and on each Credit Date, that the following statements are true and correct
(assuming that the Qualifying IPO has occurred):

4.1.   Organization; Requisite Power and Authority;
Qualification.  Each of
Holdings and its Subsidiaries (a) is duly organized and validly existing and,
if applicable, in good standing, under the laws of its jurisdiction of
organization as identified in Schedule 4.1, (b) has all requisite power and
authority to own and operate its properties, to carry on its business as now
conducted and as proposed to be conducted, to enter into the Credit Documents
to which it is a party and to carry out the transactions contemplated thereby,
and (c) is qualified to do business and in good standing in every jurisdiction
where necessary to carry out its business and operations, except in
jurisdictions where the failure to be so qualified or in good standing has not
had, and could not be reasonably expected to have, a Material Adverse Effect.

4.2.   Capital Stock and Ownership.  The Capital Stock of each of Holdings and its
Subsidiaries has been duly authorized and validly issued and is fully paid and
non-assessable, to the extent applicable thereto.  Except as set forth on Schedule 4.2, as of
the Effective Date hereof, there is no existing option, warrant, call, right,
commitment or other agreement to which Holdings or any of its Subsidiaries is a
party requiring, and there is no membership interest or other Capital Stock of
Holdings or any of its Subsidiaries outstanding which upon conversion or
exchange would require, the issuance by Holdings or any of its Subsidiaries of
any additional membership interests or other Capital Stock of Holdings or any
of its Subsidiaries or other Securities convertible into, exchangeable for or
evidencing the right to subscribe for or purchase, 

 81
 

a membership interest or
other Capital Stock of Holdings or any of its Subsidiaries.  Schedule 4.2 correctly sets forth the
ownership interest of Holdings and each of its Subsidiaries in their respective
Subsidiaries as of the Effective Date.

4.3.   Due Authorization.  The execution, delivery and performance of
the Credit Documents have been duly authorized by all necessary action on the
part of each Credit Party that is a party thereto.

4.4.   No Conflict.  The execution,
delivery and performance by Credit Parties of the Credit Documents to which
they are parties and the consummation of the transactions contemplated by the
Credit Documents do not and will not (a) violate (i) any provision of any law
or any governmental rule or regulation applicable to Holdings or any of its
Subsidiaries, (ii) any of the Organizational Documents of Holdings or any
of its Subsidiaries, or (iii) any order, judgment or decree of any court or
other agency of government binding on Holdings or any of its Subsidiaries,
except where such violation could not reasonably be expected to have a Material
Adverse Effect; (b) conflict with, result in a breach of or constitute (with
due notice or lapse of time or both) a default under any Contractual Obligation
of Holdings or any of its Subsidiaries except to the extent such conflict,
breach or default could not reasonably be expected to have a Material Adverse
Effect; (c) result in or require the creation or imposition of any Lien upon
any of the properties or assets of Holdings or any of its Subsidiaries (other
than any Liens created under any of the Credit Documents in favor of Collateral
Agent, on behalf of Secured Parties); or (d) require any approval of
stockholders, members or partners or any approval or consent of any Person
under any Contractual Obligation of Holdings or any of its Subsidiaries, except
for such approvals or consents which will be obtained on or before the
Effective Date and except for any such approvals or consents the failure of
which to obtain will not have a Material Adverse Effect.

4.5.   Governmental Consents.  The execution, delivery and performance by
Credit Parties of the Credit Documents to which they are parties and the
consummation of the transactions contemplated by the Credit Documents do not
and will not require any registration with, consent or approval of, or notice
to, or other action to, with or by, any Governmental Authority, except for
filings and recordings with respect to the Collateral to be made, or otherwise
delivered to Collateral Agent, for filing and/or recordation, as of the
Effective Date or, with regard to Foreign Subsidiaries, promptly thereafter
within any applicable time limit provided by relevant legislation, as permitted
by applicable law and except for filings required to be made under securities
laws.

4.6.   Binding Obligation.  Each Credit Document has been duly executed
and delivered by each Credit Party that is a party thereto and is the legally
valid and binding obligation of such Credit Party, enforceable against such
Credit Party in accordance with its respective terms, except as may be limited
by bankruptcy, insolvency, reorganization, moratorium or similar laws relating
to or limiting creditors’ rights generally or by equitable principles relating
to enforceability.

4.7.   [Reserved].

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4.8.   Projections.  On and as of
the Effective Date, the projections of Holdings and its Subsidiaries for the
period of Fiscal Year 2007 through and including Fiscal Year 2014 (the “Projections”) are based on good faith
estimates and assumptions made by the management of Holdings; provided,
the Projections are not to be viewed as facts and that actual results during
the period or periods covered by the Projections may differ from such
Projections and that the differences may be material; provided  further,
as of the Effective Date, management of Holdings believed that the Projections
were reasonable and attainable.

4.9.   No Material Adverse Change.  Since the date of the most recent audited
financial statements delivered pursuant to Section 5.1(c) of the Existing First
Lien Credit Agreement, no event, circumstance or change has occurred that has
caused or evidences a Material Adverse Effect.

4.10.   Adverse Proceedings, etc.  There are no Adverse Proceedings that could
reasonably be expected to have a Material Adverse Effect.  Neither Holdings nor any of its Subsidiaries
(a) is in violation of any applicable laws (including Environmental Laws) that
could reasonably be expected to have a Material Adverse Effect, or (b) is
subject to or in default with respect to any final judgments, writs,
injunctions, decrees, rules or regulations of any court or any federal, state,
municipal or other governmental department, commission, board, bureau, agency
or instrumentality, domestic or foreign, that could reasonably be expected to
have a Material Adverse Effect.

4.11.   Payment of Taxes.  Except as otherwise permitted under Section
5.3, all returns and reports of Holdings and its Subsidiaries with regard to
Taxes required to be filed by any of them have been timely filed, the contents
of such returns and reports have been materially accurate, and all Taxes shown
on such returns to be due and payable and all assessments, fees and other
governmental charges upon Holdings and its Subsidiaries and upon their
respective properties, assets, income, businesses and franchises which are due
and payable have been paid when due and payable except those which are being
actively contested by Holdings or such Subsidiary in good faith and by
appropriate proceedings; provided, such reserves or other appropriate
provisions, if any, as shall be required in conformity with GAAP shall have
been made or provided therefor.

4.12.   Properties.

(a)   Title.  Each of Holdings and its Subsidiaries has (i)
good, sufficient and legal title to (in the case of fee interests in real
property), (ii) valid leasehold interests in (in the case of leasehold
interests in real or personal property), (iii) valid licensed rights in (in the
case of licensed interests in intellectual property) and (iv) good title to (in
the case of all other personal property), all of their respective properties
and assets.  Except as permitted by this
Agreement, all such properties and assets are free and clear of Liens other
than Permitted Liens.

(b)   Real
Estate.  As of the Effective Date,
Schedule 4.12 contains a true, accurate and complete list of (i) all Real
Estate Assets, and (ii) all leases, subleases or assignments of leases
(together with all amendments, modifications, supplements, renewals or
extensions of any thereof) affecting each Real Estate Asset of any Credit
Party, regardless

 83

of whether such Credit Party is the landlord
or tenant (whether directly or as an assignee or successor in interest) under
such lease, sublease or assignment.  Each
agreement listed in clause (ii) of the immediately preceding sentence is as of
the Effective Date in full force and effect and Holdings does not have
knowledge of any default that has occurred and is continuing thereunder that
would reasonably be expected to result in a Material Adverse Effect, and each
such agreement constitutes the legally valid and binding obligation of each
applicable Credit Party, enforceable against such Credit Party in accordance
with its terms, except as enforcement may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar laws relating to or limiting creditors’
rights generally or by equitable principles.

4.13.   Environmental Matters.  Neither Holdings nor any of its Subsidiaries
nor any of their respective Facilities or operations are subject to any
outstanding written order, consent decree or settlement agreement with any
Person relating to any Environmental Law, any Environmental Claim, or any
Hazardous Materials Activity that could reasonably be expected to have a
Material Adverse Effect.  There are and,
to each of Holdings’ and its Subsidiaries’ knowledge, have been, no conditions,
occurrences, or Hazardous Materials Activities which could reasonably be
expected to form the basis of an Environmental Claim against Holdings or any of
its Subsidiaries that could reasonably be expected to have a Material Adverse
Effect.  Neither Holdings nor any of its
Subsidiaries nor, to any Credit Party’s knowledge, any predecessor of Holdings
or any of its Subsidiaries has filed any notice under any Environmental Law
indicating past or present treatment of Hazardous Materials at any Facility,
and none of Holdings’ or any of its Subsidiaries’ operations involves the
generation, transportation, treatment, storage or disposal of hazardous waste,
as defined under 40 C.F.R. Parts 260-270 or any state equivalent.  Compliance with all current or reasonably
foreseeable future requirements pursuant to or under Environmental Laws could
not be reasonably expected to have a Material Adverse Effect.  No event or condition has occurred or is
occurring with respect to Holdings or any of its Subsidiaries relating to any
Environmental Law, any Release of Hazardous Materials, or any Hazardous
Materials Activity which has had, or could reasonably be expected to have, a
Material Adverse Effect.

4.14.   No Defaults.  Neither Holdings nor any of its Subsidiaries
is in default in the performance, observance or fulfillment of any of the
obligations, covenants or conditions contained in any of its Contractual
Obligations, and no condition exists which, with the giving of notice or the
lapse of time or both, could constitute such a default, except where the
consequences, direct or indirect, of such default or defaults, if any, could
not reasonably be expected to have a Material Adverse Effect.

4.15.   Governmental Regulation.  Neither Holdings nor any of its Subsidiaries
is subject to regulation under the Federal Power Act or the Investment Company
Act of 1940.  Neither Holdings nor any of
its Subsidiaries is a “registered investment company” or a company “controlled”
by a “registered investment company” or a “principal underwriter” of a “registered
investment company” as such terms are defined in the Investment Company Act of
1940.

4.16.   Margin Stock.  Neither Holdings nor any of its Subsidiaries
is engaged principally, or as one of its important activities, in the business
of extending credit for the purpose of purchasing or carrying any Margin
Stock.  No part of the proceeds of the
Loans made 

 84
 

to such Credit Party will
be used to purchase or carry any such Margin Stock in violation of Regulation
T, U or X of the Board of Governors or to extend credit to others for the
purpose of purchasing or carrying any such margin stock or for any purpose that
violates the provisions of Regulation T, U or X of the Board of Governors.

4.17.   Employee Matters.  Neither Holdings nor any of its Subsidiaries
is engaged in any unfair labor practice that could reasonably be expected to
have a Material Adverse Effect.  There is
(a) no unfair labor practice complaint pending against Holdings or any of its
Subsidiaries, or to the knowledge of Holdings and Borrowers, threatened against
any of them before the National Labor Relations Board (or any foreign
equivalent thereof) and no grievance or arbitration proceeding arising out of
or under any collective bargaining agreement that is so pending against
Holdings or any of its Subsidiaries or to the knowledge of Holdings and
Borrowers, threatened against any of them, (b) no strike or work stoppage in
existence or threatened involving Holdings or any of its Subsidiaries, and (c)
to the knowledge of Holdings and Borrower, no union representation question
existing with respect to the employees of Holdings or any of its Subsidiaries
and, to the knowledge of Holdings and Borrower, no union organization activity
that is taking place, except (with respect to any matter specified in clause
(a), (b) or (c) above) such as is not reasonably likely to have a Material
Adverse Effect.

4.18.  
Employee Benefit Plans.

(a)   Except as could not reasonably be expected
to have a Material Adverse Effect, Holdings, each of its Subsidiaries and each
of their respective ERISA Affiliates are in compliance with all applicable
provisions and requirements of ERISA and the Internal Revenue Code and the
regulations and published interpretations thereunder with respect to each
Employee Benefit Plan, and have performed all their obligations under each
Employee Benefit Plan.  Each Employee
Benefit Plan which is intended to qualify under Section 401(a) of the Internal Revenue
Code has received a favorable determination letter from the Internal Revenue
Service indicating that such Employee Benefit Plan is so qualified and nothing
has occurred subsequent to the issuance of such determination letter which
would cause such Employee Benefit Plan to lose its qualified status.  Except as could not reasonably be expected to
have a Material Adverse Effect, no liability to the PBGC (other than required
premium payments), the Internal Revenue Service, any Employee Benefit Plan or any
trust established under Title IV of ERISA has been or is expected to be
incurred by Holdings, any of its Subsidiaries or any of their ERISA
Affiliates.  Except as could not
reasonably be expected to have a Material Adverse Effect, (i) no ERISA Event
has occurred or is reasonably expected to occur and (ii) except to the extent
required under Section 4980B of the Internal Revenue Code or similar state
laws, no Employee Benefit Plan provides health or welfare benefits (through the
purchase of insurance or otherwise) for any retired or former employee of
Holdings, any of its Subsidiaries or any of their respective ERISA
Affiliates.  Except as could not
reasonably be expected to have a Material Adverse Effect, the present value of
the aggregate benefit liabilities under each Pension Plan sponsored, maintained
or contributed to by Holdings, any of its Subsidiaries or any of their ERISA
Affiliates (determined as of the end of the most recent plan year on the basis
of the actuarial assumptions specified for funding purposes in the most recent
actuarial valuation for such Pension Plan), did not exceed the aggregate
current value of the assets of such Pension Plan.  Except as could not reasonably be expected to
have a Material Adverse Effect, (i) as of the 

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most recent valuation date for each
Multiemployer Plan for which the actuarial report is available, the potential
liability of Holdings, its Subsidiaries and their respective ERISA Affiliates
for a complete withdrawal from such Multiemployer Plan (within the meaning of
Section 4203 of ERISA), when aggregated with such potential liability for a
complete withdrawal from all Multiemployer Plans, based on information
available pursuant to Section 4221(e) of ERISA is zero and (ii) Holdings, each
of its Subsidiaries and each of their ERISA Affiliates have complied with the
requirements of Section 515 of ERISA with respect to each Multiemployer Plan
and are not in material “default” (as defined in Section 4219(c)(5) of ERISA)
with respect to payments to a Multiemployer Plan.

(b)   Except as could not reasonably be expected
to have a Material Adverse Effect, all Foreign Plans are operated in compliance
with all applicable laws, each Credit Party which contributes to a Foreign Plan
has paid all required contributions to such Foreign Plan as they fall due, and
no action or omission has been or is expected to be taken by any Credit Party
nor has any event occurred in relation to a Foreign Plan which has or is
reasonably likely to result in liability to any Credit Party to any
Governmental Authority.  At the request
of Administrative Agent, Borrowers shall deliver to Administrative Agent at
such times as those reports are prepared in order to comply with the then
current statutory or auditing requirement (as applicable either to the trustees
of any relevant Foreign Plans or to Borrowers), actuarial reports in relation
to all Foreign Plans.  Borrowers shall
promptly notify the Administrative Agent of any material change in the rate of
contributions to any Foreign Plans either paid or recommended to be paid
(whether by the scheme actuary, the trustees or otherwise) or required (by law
or otherwise).

4.19.  
[Reserved].

4.20.   Solvency.  The Credit Parties, on a consolidated basis,
are and, upon the incurrence of any Obligation by any Credit Party on any date
on which this representation and warranty is made, will be, Solvent.

4.21.  
[Reserved].

4.22.   Compliance with Statutes, etc.  Each of Holdings and its Subsidiaries is in
compliance with all applicable statutes, regulations and orders of, and all
applicable restrictions (other than those relating to Tax) imposed by, all
Governmental Authorities, in respect of the conduct of its business and the
ownership of its property (including compliance with all applicable
Environmental Laws with respect to any Real Estate Asset or governing its
business and the requirements of any permits issued under such Environmental
Laws with respect to any such Real Estate Asset or the operations of Holdings
or any of its Subsidiaries), except such non-compliance that could not
reasonably be expected to result in a Material Adverse Effect.

4.23.   Disclosure.  The representations and warranties of any
Credit Party contained in any Credit Document or in any other documents,
certificates or written statements furnished to any Agent or Lender by or on
behalf of Holdings or any of its Subsidiaries for use in connection with the
transactions contemplated hereby (other than Projections and pro forma
financial information), when taken as a whole, do not contain any untrue
statement of a material fact or omits to state a material fact (known to
Holdings or Borrowers, in the case of any document not 

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furnished by either of
them) necessary in order to make the statements contained herein or therein not
materially misleading in light of the circumstances in which the same were
made.  Any projections and pro forma
financial information contained in such materials are based upon good faith
estimates and assumptions believed by Holdings or Borrowers to be reasonable at
the time made, it being recognized by Lenders that such projections as to
future events are not to be viewed as facts and that actual results during the
period or periods covered by any such projections may differ materially from
the projected results.  There are no
facts known (or which should upon the reasonable exercise of diligence be
known) to Holdings or Borrowers (other than matters of a general economic
nature) that could reasonably be expected to result in a Material Adverse
Effect and that have not been disclosed herein or in such other documents,
certificates and statements (when taken as a whole) furnished to Lenders for
use in connection with the transactions contemplated hereby.

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

4.25.   Financial Assistance.  Neither the execution, delivery and
performance of any of the Credit Documents nor the incurrence of any obligations
or liabilities (actual or contingent) thereunder by the Euro Borrowers or any
of the Foreign Guarantors constitutes or will constitute unlawful financial
assistance for the purposes of Article 98c or 207c of Book 2 of the Dutch Civil
Code.

4.26.   Dutch Financial Supervision Act.  Each Euro Borrower fully complies with rules
and regulations promulgated under the Dutch Financial Supervision Act (Wet op
het financieel toezicht).

SECTION
5.   AFFIRMATIVE COVENANTS

Each Credit Party covenants and agrees that, so long as any Commitment
is in effect and until payment in full of all Obligations (other than
contingent indemnity obligations not then due and payable) and cancellation or
expiration of all Letters of Credit, each Credit Party shall perform, and shall
cause each of its Subsidiaries to perform, all covenants in this Section
5.  Notwithstanding anything to the
contrary in any Credit Document, the requirement of any delivery by any Credit
Party, under this Section 5, Section 2 or otherwise under this Agreement or
under any Credit Document, shall be satisfied solely where such delivery is by
(i) U.S. Borrower on behalf of such Credit Party and each Credit Party
authorizes U.S. Borrower to make such delivery and prepare and execute on such
Credit Party’s behalf the documents to be delivered thereunder and acknowledge
that Agents may rely on such documents prepared and 

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transmitted by U.S. Borrower or (ii) transmission or
physical delivery by U.S. Borrower following due execution by the applicable
Credit Party.

5.1.   Financial Statements and Other Reports.  Holdings will deliver to Administrative Agent
for distribution to the Lenders:

(a)   [reserved]

(b)   Quarterly Financial Statements.  As soon as available, and in any event within
45 days after the end of the first three Fiscal Quarters of each Fiscal Year,
commencing with the Fiscal Quarter in which the Closing Date occurs, (i) the
consolidated balance sheets of Holdings and its Subsidiaries as at the end of
such Fiscal Quarter and the related consolidated statements of income,
stockholders’ equity and cash flows of Holdings and its Subsidiaries for such
Fiscal Quarter and for the period from the beginning of the then current Fiscal
Year to the end of such Fiscal Quarter, setting forth in each case (except with
respect to any quarter occurring within the first four quarters after the
Closing Date) in comparative form the corresponding figures for the
corresponding periods of the previous Fiscal Year and the corresponding figures
from the Financial Plan for the current Fiscal Year and (ii) the consolidating
balance sheets of each of (x) the U.S. Borrower and its Subsidiaries and (y)
the Euro Borrowers and their respective Subsidiaries, in each case as at the
end of such Fiscal Quarter and the related consolidating to statements of
income for such Fiscal Quarter and for the period from the beginning of the
then current Fiscal Year to the end of such Fiscal Quarter, setting forth in
each case in comparative form the corresponding figures for the corresponding periods
of the previous Fiscal Year and the corresponding figures from the Financial
Plan for the current Fiscal Year, in the case of each of clauses (i) and (ii)
all in reasonable detail, together with a Financial Officer Certification; provided,
that the filing with the Securities and Exchange
Commission by Solera Holdings, Inc. of its quarterly report on
Form 10-Q for the applicable Fiscal Quarter within the time period set
forth in this Section 5.1(b) shall satisfy the requirements of this Section
5.1(b).

(c)   Annual Financial Statements.  As soon as available, and in any event within
120 days after the end of each Fiscal Year, commencing with the Fiscal Year in
which the Closing Date occurs, (i) the consolidated and consolidating balance
sheets of Holdings and its Subsidiaries as at the end of such Fiscal Year and
the related consolidated (and with respect to statements of income,
consolidating) statements of income, stockholders’ equity and cash flows of
Holdings and its Subsidiaries for such Fiscal Year, setting forth in each case
in comparative form the corresponding figures for the previous Fiscal Year and
the corresponding figures from the Financial Plan for the Fiscal Year covered
by such financial statements, in reasonable detail, together with a Financial
Officer Certification and a Narrative Report with respect thereto; and (ii)
with respect to such consolidated financial statements a report thereon of
PricewaterhouseCoopers, LLC or other “Big 4” accounting firm or other
independent certified public accountants of recognized national standing
selected by Holdings, and reasonably satisfactory to Administrative Agent
(which report shall be unqualified as to going concern and scope of audit, and
shall state that such consolidated financial statements fairly present, in all
material respects, the consolidated financial position of Holdings and its
Subsidiaries as at the dates indicated and the results of their operations and
their cash flows for the periods indicated in conformity with GAAP 

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applied on a basis consistent with prior
years (except as otherwise disclosed in such financial statements) and that the
examination by such accountants in connection with such consolidated financial
statements has been made in accordance with generally accepted auditing
standards) together with a written statement by such independent certified
public accountants stating (1) that their audit examination has included a
review of the terms of the Credit Documents and (2) whether, in connection
therewith, any condition or event that constitutes a Default or an Event of
Default under Section 6.8 has come to their attention and, if such a condition
or event has come to their attention, specifying the nature and period of
existence thereof; provided, that the filing with the Securities
and Exchange Commission by Solera Holdings, Inc. of its annual
report on Form 10-K for the applicable Fiscal Year within the time period
set forth in this Section 5.1(c) shall satisfy the requirements of this Section
5.1(c).

(d)   Compliance Certificate.  Together with each delivery of financial
statements of Holdings and its Subsidiaries pursuant to Sections 5.1(b) and
5.1(c), a duly executed and completed Compliance Certificate;

(e)   Reserved;

(f)   Notice of Default.  Promptly upon any officer of Holdings or
Borrowers obtaining knowledge (i) of any condition or event that constitutes a
Default or an Event of Default or that notice has been given to Holdings or
Borrowers with respect thereto; (ii) that any Person has given any notice to
Holdings or any of its Subsidiaries or taken any other action with respect to
any event or condition set forth in Section 8.1(b); or (iii) of the occurrence
of any event or change that has caused or evidences, either in any case or in
the aggregate, a Material Adverse Effect, a certificate of its Authorized
Officer specifying the nature and period of existence of such condition, event
or change, or specifying the notice given and action taken by any such Person
and the nature of such claimed Event of Default, Default, default, event or
condition, and what action each applicable Borrower has taken, is taking and
proposes to take with respect thereto;

(g)   Notice of Litigation.  Promptly upon any Authorized Officer of
Holdings or Borrowers obtaining knowledge of (i) the institution of, or non-frivolous
threat of, any Adverse Proceeding not previously disclosed in writing by
Borrowers to Lenders, or (ii) any material development in any Adverse
Proceeding that, in the case of either clause (i) or (ii), if adversely determined
could be reasonably expected to have a Material Adverse Effect, or seeks to
enjoin or otherwise prevent the consummation of, or to recover any damages or
obtain relief as a result of, the transactions contemplated hereby, written
notice thereof together with such other information as may be reasonably
available to Holdings or Borrowers to enable Lenders and their counsel to
evaluate such matters;

(h)   ERISA.  (i) Promptly upon becoming aware of the
occurrence of or forthcoming occurrence of any ERISA Event, a written notice
specifying the nature thereof, what action Holdings, any of its Subsidiaries or
any of their respective ERISA Affiliates has taken, is taking or proposes to
take with respect thereto and, when known, any action taken or threatened by
the Internal Revenue Service, the Department of Labor or the PBGC with respect
thereto or similar Governmental Authority with respect to any Foreign Plan; and

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(ii) with reasonable promptness, copies
of (1) all notices received by Holdings, any of its Subsidiaries or any of
their respective ERISA Affiliates from a Multiemployer Plan sponsor concerning
an ERISA Event; and (2) copies of such other documents or governmental
reports or filings relating to any Employee Benefit Plan or similar reports or filings
relating to any Foreign Plan as Administrative Agent shall reasonably request;

(i)   Financial Plan.  As soon as practicable and in any event no
later than thirty days after the beginning of each Fiscal Year, a consolidated
plan and financial forecast for such Fiscal Year (a “Financial Plan”), including (i) a forecasted
consolidated balance sheet and forecasted consolidated statements of income and
cash flows of Holdings and its Subsidiaries for such Fiscal Year and  (ii) forecasted consolidated statements of
income and cash flows of Holdings and its Subsidiaries for each month of such
Fiscal Year;

(j)   Insurance Report.  At the Administrative Agent’s request, a
certificate from Borrowers’ insurance broker(s) in form and substance
satisfactory to Administrative Agent outlining all material insurance coverage
maintained as of the date of such certificate by Holdings and its Subsidiaries;

(k)   Reserved;

(l)   Reserved;

(m)   Information Regarding Collateral.  (a) Borrowers will furnish to Collateral Agent
prompt written notice of any change (i) in any Credit Party’s corporate name,
(ii) in any Credit Party’s identity or corporate structure, (iii) in any Credit
Party’s jurisdiction of organization or (iv) in any Credit Party’s Federal
Taxpayer Identification Number or state organizational identification
number.  Each Borrower agrees not to
effect or permit any change referred to in the preceding sentence unless all
filings have been made under the Uniform Commercial Code or otherwise that are
reasonably required in order for Collateral Agent, to continue at all times
following such change to have a valid, legal and perfected security interest in
all the Collateral as contemplated in the Collateral Documents.  Each Borrower also agrees promptly to notify
Collateral Agent if any material portion of the Collateral is damaged or
destroyed;

(n)   Annual Collateral Verification.  Each year, at the time of delivery of annual
financial statements with respect to the preceding Fiscal Year pursuant to
Section 5.1(c), Borrowers shall deliver to Collateral Agent a certificate of
its Authorized Officer (i) either confirming that there has been no
material change in such information since the date of the Collateral
Questionnaire delivered on the Closing Date or the date of the most recent
certificate delivered pursuant to this Section and/or identifying such material
changes and (ii) certifying that such information is accurate and complete
in all material respects.  For purposes
of this Section 5.1(n), the Collateral Questionnaire shall be completed with
respect to any jurisdiction in which a Guarantor is resident or where
Collateral is otherwise located;

(o)   Other Information.  (A) After the occurrence of a Qualifying IPO,
promptly upon their becoming available, copies of (i) all financial
statements, reports, notices and proxy statements sent or made available
generally by Holdings to its security holders 

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acting in such capacity or by any Subsidiary
of Holdings to its security holders other than Holdings or another Subsidiary
of Holdings, and (ii) all regular and periodic reports and all
registration statements and prospectuses, if any, filed by Holdings or any of
its Subsidiaries with any securities exchange or with the Securities and
Exchange Commission or any governmental or private regulatory authority in any
jurisdiction, and (B) such other information and data with respect to Holdings
or any of its Subsidiaries as from time to time may be reasonably requested by
Administrative Agent; and

(p)   Certification of Public Information.  Concurrently with the delivery of any
document or notice required to be delivered pursuant to this Section 5.1,
Holdings shall indicate in writing whether such document or notice contains
Nonpublic Information.  Holdings and each
Lender acknowledge that certain of the Lenders may be “public-side” Lenders
(Lenders that do not wish to receive material non-public information with
respect to Holdings, its Subsidiaries or their securities) and, if documents or
notices required to be delivered pursuant to this Section 5.1 or otherwise are
being distributed through IntraLinks/IntraAgency, SyndTrak or another relevant
website or other information platform (the “Platform”),
any document or notice that Holdings has indicated contains Nonpublic Information
shall not be posted on that portion of the Platform designated for such
public-side Lenders.  If Holdings has not
indicated whether a document or notice delivered pursuant to this Section 5.1
contains Nonpublic Information, Administrative Agent reserves the right to post
such document or notice solely on that portion of the Platform designated for
Lenders who wish to receive material nonpublic information with respect to
Holdings, its Subsidiaries and their securities.

(q)   Investigations.  If an Event of Default is continuing or if
the Requisite Lenders believe in good faith and on reasonable grounds that any
financial statements or calculations provided by Holdings or any of its
Subsidiaries are inaccurate or incomplete in any material respect the Administrative
Agent may, following consultation with Holdings as to the scope of the
investigation and its cost: (i) instruct (or require Holdings to instruct) a
recognized firm of accountants selected by the Administrative Agent to carry
out an investigation into the affairs of the Group and/or the financial
performance of the Group and/or the accounting and other reporting procedures
and standards of the Group; and/or (ii) request confirmation that any figure in
the most recent quarterly or annual Compliance Certificate delivered under
Section 5.1(d) has been correctly extracted from the relevant financial
statements delivered under Section 5.1(a) – (c); and/or (iii) instigate such
other investigations and commission such other reports (including, without limitation,
legal and valuation reports) as the Administrative Agent shall reasonably
require into the affairs of the Group, in each case to the extent that the
Administrative Agent considers them to be relevant to such Event of Default or
the circumstances giving rise to such Event of Default or establishing the
accuracy of such financial statements and/or calculations.  The reasonable expense of any such
investigation shall be borne by Holdings.

5.2.   Existence.  Except as otherwise permitted under Section
6.9, each Credit Party will, and will cause each of its Subsidiaries to, at all
times preserve and keep in full force and effect its existence and all rights
and franchises, licenses and permits material to its business; provided,
no Credit Party (other than each Borrower with respect to existence) or any of
its Subsidiaries shall be required to preserve any such existence, right or
franchise, licenses and permits if such Credit 

 91
 

Party shall determine
that the preservation thereof is no longer desirable in the conduct of the
business of such Person, and that the loss thereof would not reasonably be
expected to result in a Material Adverse Effect.

5.3.   Payment of Taxes and Claims.  Each Credit Party will, and will cause each
of its Subsidiaries to, pay all material Taxes imposed upon it or any of its
properties or assets or in respect of any of its income, businesses or
franchises before any penalty or fine accrues thereon, and all claims
(including claims for labor, services, materials and supplies) for sums that
have become due and payable and that by law have or may become a Lien upon any
of its properties or assets, prior to the time when any penalty or fine shall
be incurred with respect thereto; provided, no such Tax, claim, penalty
or fine need be paid if it is being contested in good faith by appropriate
proceedings promptly instituted and diligently conducted, so long as (a)
adequate reserve or other appropriate provision, as shall be required in
conformity with GAAP shall have been made therefor, and (b) in the case of
a Tax, claim, penalty or fine which has or may become a Lien against any of the
Collateral, such contest proceedings conclusively operate to stay the sale of
any portion of the Collateral to satisfy such Tax, claim, penalty or fine.  No Credit Party will, nor will it permit any
of its Subsidiaries to, file or consent to the filing of any consolidated
income tax return with any Person (other than Solera Holdings, Inc. or Holdings
or any of its Subsidiaries).

5.4.   Maintenance of Properties.  Each Credit Party will, and will cause each
of its Subsidiaries to, maintain or cause to be maintained in working order and
condition, ordinary wear and tear and casualty excepted, all properties used or
useful in the business of Holdings and its Subsidiaries and from time to time
will make or cause to be made all appropriate repairs, renewals and
replacements thereof, except where the failure to do so would not reasonably be
expected to result in a Material Adverse Effect.

5.5.   Insurance.  Holdings will maintain or cause to be
maintained, with financially sound and reputable insurers, such public
liability insurance, third party property damage insurance, business
interruption insurance and casualty insurance with respect to liabilities,
losses or damage in respect of the assets, properties and businesses of
Holdings and its Subsidiaries and with such deductibles, covering such risks
and otherwise, in each case, as are prudent in the good faith judgment of the
officers of Holdings and its Subsidiaries. 
Without limiting the generality of the foregoing, Holdings will maintain
or cause to be maintained replacement value casualty insurance on the
Collateral under such policies of insurance, with such insurance companies, in
such amounts, with such deductibles, and covering such risks as are prudent in
the good faith judgment of the officers of Holdings and its Subsidiaries.  Each such policy of insurance shall (i) name
Collateral Agent, on behalf of Secured Parties as an additional insured
thereunder as its interests may appear and (ii) in the case of each casualty
insurance policy, contain a loss payable clause or endorsement, reasonably
satisfactory in form and substance to Collateral Agent, that names Collateral
Agent, on behalf of the Secured Parties as the loss payee thereunder and will
endeavor to provide for at least thirty days’ prior written notice to
Collateral Agent, of any material modification or cancellation of such policy.

5.6.   Books and Records; Inspections.  Each Credit Party will, and will cause each of
its Subsidiaries to, keep proper books of record and accounts in which
complete, true and correct entries in conformity in all material respects with
GAAP shall be made of all dealings and 

 92
 

transactions in relation
to its business and activities.  Each
Credit Party will, and will cause each of its Subsidiaries to, permit any
authorized representatives designated by any Lender to visit and inspect any of
the properties of any Credit Party and any of its respective Subsidiaries, to
inspect, copy and take extracts from its and their financial and accounting
records, and to discuss its and their affairs, finances and accounts with its
and their officers and independent public accountants, all upon reasonable
notice and at such reasonable times during normal business hours and as often
as may reasonably be requested; provided, however, that the
Lenders hereby agree to attempt to coordinate such visits; provided, further,
so long as no Event of Default is continuing, such inspections shall be limited
to twice per year at the Borrowers’ expense.

5.7.   Lenders Meetings.  Holdings and Borrowers will, upon the request
of Administrative Agent or Requisite Lenders, participate in a meeting of
Administrative Agent and Lenders once during each Fiscal Year to be held at
Borrower’s corporate offices (or at such other location as may be agreed to by
Borrowers and Administrative Agent) at such time as may be agreed to by
Borrowers and Administrative Agent; provided, that any expenses incurred
by the Lenders participating in such meeting shall not be reimbursed by the
Credit Parties.

5.8.   Compliance with Laws.  Each Credit Party will comply, and shall
cause each of its Subsidiaries and shall use commercially reasonable efforts to
cause all other Persons, if any, on or occupying any Facilities to comply, with
the requirements of all applicable laws, rules, regulations and orders of any
Governmental Authority (including all Environmental Laws), noncompliance with
which could reasonably be expected to have, in the aggregate, a Material
Adverse Effect.

5.9.  
Environmental.

(a)   Environmental Disclosure.  Holdings will deliver to Administrative Agent
and Lenders:

(i)   as soon as practicable following receipt
thereof, copies of all material environmental audits, investigations, analyses
and reports of any kind or character, whether prepared by personnel of Holdings
or any of its Subsidiaries or by independent consultants, governmental
authorities or any other Persons, with respect to significant environmental matters
at any Facility or with respect to any Environmental Claims;

(ii)   promptly upon the occurrence thereof,
written notice describing in reasonable detail (1) any Release required to be
reported to any federal, state or local governmental or regulatory agency under
any applicable Environmental Laws, (2) any remedial action taken by Holdings or
any other Person in response to (A) any Hazardous Materials Activities the
existence of which has a reasonable possibility of resulting in one or more
Environmental Claims having a Material Adverse Effect, or (B) any Environmental
Claims that have a reasonable possibility of resulting in a Material Adverse
Effect, and (3) Holdings or Borrower’s discovery of any occurrence or condition
on any real property adjoining or in the vicinity of any Facility that could
cause such Facility or any part thereof to be subject to any material
restrictions on the ownership, occupancy, transferability or use thereof under
any Environmental Laws where such restrictions have a reasonable possibility of
resulting in a Material Adverse Effect;

 93
 

(iii)   as soon as practicable following the sending
or receipt thereof by Holdings or any of its Subsidiaries, a copy of any and
all written communications with respect to (1) any Environmental Claims that
have a reasonable possibility of giving rise to a Material Adverse Effect, (2)
any Release required to be reported to any federal, state or local governmental
or regulatory agency, and (3) any request for information from any governmental
agency that suggests such agency is investigating whether Holdings or any of
its Subsidiaries may be potentially responsible for any Hazardous Materials
Activity;

(iv)   prompt written notice describing in
reasonable detail (1) any proposed acquisition of stock, assets, or property by
Holdings or any of its Subsidiaries that could reasonably be expected to (A)
expose Holdings or any of its Subsidiaries to, or result in, Environmental
Claims that could reasonably be expected to have a Material Adverse Effect or (B)
affect the ability of Holdings or any of its Subsidiaries to maintain in full
force and effect all material Governmental Authorizations required under any
Environmental Laws for their respective operations and (2) any proposed action
to be taken by Holdings or any of its Subsidiaries to modify current operations
in a manner that could reasonably be expected to subject Holdings or any of its
Subsidiaries to any additional material obligations or requirements under any
Environmental Laws; and

(v)   with reasonable promptness, such other
documents and information as from time to time may be reasonably requested by
Administrative Agent in relation to any matters disclosed pursuant to this
Section 5.9(a).

(b)   Hazardous Materials Activities, Etc.  Each Credit Party shall promptly take, and
shall cause each of its Subsidiaries promptly to take, any and all actions
necessary to (i) cure any violation of applicable Environmental Laws by such
Credit Party or its Subsidiaries that could reasonably be expected to have a
Material Adverse Effect, and (ii) make an appropriate response to any
Environmental Claim against such Credit Party or any of its Subsidiaries and
discharge any obligations it may have to any Person thereunder where failure to
do so could reasonably be expected to have a Material Adverse Effect.

5.10.   Subsidiaries.  (a) In the event that any Person becomes a
Subsidiary of a Borrower after the Closing Date (other than an Excluded
Subsidiary), such Borrower shall (i) in the case of a Domestic Subsidiary or a
Foreign Subsidiary that is treated as a pass-through or disregarded entity for
U.S. federal income tax purposes and all of the Capital Stock of which is
directly owned by Holdings or one or more Domestic Subsidiaries of Holdings,
promptly cause such Domestic Subsidiary or such Foreign Subsidiary to become a
Domestic Guarantor hereunder and a Grantor under the Pledge and Security
Agreement (or an applicable Canadian Security Document in the case of any such
Domestic Guarantor organized under the laws of Canada or a province thereof) by
executing and delivering to Administrative Agent and Collateral Agent a
Counterpart Agreement, (ii) in the case of a Foreign Subsidiary not covered by
clause (i) above, except with respect to Excluded Subsidiaries, promptly cause
such Foreign Subsidiary to become a Foreign Guarantor hereunder (provided,
that such Foreign Subsidiary shall have the benefit of Section 7.13 and, in any
event, such Foreign Subsidiary shall not guarantee the Obligations of the U.S.
Borrower or any Domestic Guarantor under this Agreement) and to grant Liens in
favor of Collateral Agent, over all or substantially all of its assets, if
applicable, on similar terms to the Liens granted pursuant to any Collateral
Document 

 94
 

to which any other
Foreign Subsidiary incorporated in the same jurisdiction as such Foreign
Subsidiary is a party (provided, that a Foreign Subsidiary shall only
become a Guarantor or grant a Lien to the extent not inconsistent with the
Security Principles set forth in Schedule 1.1A), and (iii) take all such
actions and execute and deliver, or cause to be executed and delivered, all
such documents, instruments, agreements, and certificates as are similar to
those described in Sections 3.1(b), 3.1(i) and 3.1(l) of the Existing First Lien
Credit Agreement.  In the event that any
Person becomes a direct or indirect Foreign Subsidiary of Holdings, and the
ownership interests of such Foreign Subsidiary are owned directly by Holdings
or by any Domestic Guarantor or by any Foreign Guarantor, Holdings shall, or
shall cause such Domestic Guarantor or Foreign Guarantor, as applicable, to
deliver all such documents, instruments, agreements, and certificates as are
similar to those described in Section 3.1(b) of the Existing First Lien Credit
Agreement, and Holdings shall take, or shall cause such Domestic Guarantor or
Foreign Guarantor, as applicable, to take, all of the actions referred to in
Section 3.1(i)(i) of the Existing First Lien Credit Agreement necessary to
grant and to perfect a First Priority Lien in favor of Collateral Agent, for
the benefit of Secured Parties (a) in the event such Foreign Subsidiary (other
than any Foreign Subsidiary of Holdings that is treated as a pass-through or
disregarded entity for United States federal income tax purposes and all of the
Capital Stock of which is directly owned by Holdings or one or more Domestic
Subsidiaries of Holdings) is directly owned by Holdings or any Domestic
Guarantor, in 65% of the Capital Stock of such Foreign Subsidiary to secure its
guarantee of the Obligations of the U.S. Borrower and 100% of the Capital Stock
of such Foreign Subsidiary to secure its guarantee of the Obligations of the
Euro Borrowers, subject to the agreed upon Security Principles on Schedule 1.1A
and (b) in the event such Foreign Subsidiary is owned by a Foreign Guarantor,
in 100% of the Capital Stock of such Foreign Subsidiary to secure its guarantee
of the Obligations of the Euro Borrowers, subject to the agreed upon Security
Principles on Schedule 1.1A.  With respect
to each such Subsidiary, Holdings shall promptly send to Administrative Agent
written notice setting forth with respect to such Person (i) the date on which
such Person became a Subsidiary of Holdings, and (ii) all of the data required
to be set forth in Schedules 4.1 and 4.2 with respect to all Subsidiaries of
Holdings; and such written notice shall be deemed to supplement Schedules 4.1
and 4.2 for all purposes hereof.  This
Section 5.10(a) shall be interpreted in accordance with the proviso in the definition
of “Collateral”.

(b)  If at any
time (i) the aggregate assets (excluding intercompany indebtedness) of the
Excluded Subsidiaries and their Subsidiaries, as consolidated in the
consolidated financial statements of Holdings, shall account for 25% or more of
the consolidated assets of Holdings as of the last day of the most recently
ended Fiscal Quarter or (ii) the aggregate portion of Consolidated Adjusted
EBITDA attributable to the Excluded Subsidiaries and their Subsidiaries, as
consolidated in the consolidated financial statements of Holdings, for the most
recently ended period of four consecutive Fiscal Quarters shall account for 25%
or more of the Consolidated Adjusted EBITDA of Holdings for such period,
Holdings shall designate sufficient Excluded Subsidiaries as Guarantors,
subject to agreed upon Security Principles set forth on Schedule 1.1A, to
eliminate such condition, such designation to occur not later than sixty (60)
Business Days after the earlier of (x) the delivery pursuant to Section 5.1(b)
or (c) of financial statements of Holdings for the period during which the
condition requiring such designation shall first have existed and (y) in the
event the condition requiring such designation is known to an Authorized
Officer of Holdings to exist as a result of an acquisition, disposition or
transfer of material assets (including Capital Stock), the date of such
acquisition, disposition or transfer. 
Excluded 

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Subsidiaries designated
as Guarantors pursuant to the preceding sentence shall for all purposes of this
Agreement cease to be Excluded Subsidiaries and constitute Guarantors upon such
designation.

5.11.   Additional Leasehold Property.  In the event that any Credit Party acquires a
Leasehold Property, then such Credit Party shall use commercially reasonable
efforts to take all such actions and execute and deliver, or cause to be
executed and delivered, all such documents similar to those described in
Section 3.1(i)(iv) of the Existing First Lien Credit Agreement, with respect to
each such Leasehold Property that Collateral Agent, shall reasonably request,
subject to the agreed upon Security Principles set forth on Schedule 1.1A.

5.12.   Interest Rate Protection.  No later than ninety (90) days following the
Closing Date and at all times thereafter until the second anniversary of the
Closing Date, Borrowers shall obtain and cause to be maintained protection
against fluctuations in interest rates pursuant to one or more Interest Rate
Agreements in form and substance reasonably satisfactory to Administrative
Agent and Syndication Agent, in order to ensure that no less than 50% of the
aggregate principal amount of the total funded Indebtedness (excluding
Revolving Loans or debt for which
interest is not paid in cash) of Holdings and its Subsidiaries then
outstanding is either (i) subject to such Interest Rate Agreements or
(ii) Indebtedness that bears interest at a fixed rate.

5.13.   Further Assurances.  At any time or from time to time upon the
request of Administrative Agent, each Credit Party will, at its expense,
promptly execute, acknowledge and deliver such further documents and do such
other acts and things as Administrative Agent or Collateral Agent, may
reasonably request in order to effect fully the terms of the Credit Documents.  In furtherance and not in limitation of the
foregoing, each Credit Party shall (and Holdings shall procure that each member
of the Group will) promptly do all such acts or execute all such documents
(including assignments, transfers, mortgages, charges, notices and
instructions) as the Collateral Agent may reasonably specify (and in such form
as the Collateral Agent may reasonably require in favor of the Collateral Agent
or its nominee(s)) in each case, subject to agreed upon Security Principles set
forth on Schedule 1.1A hereto, to the extent reasonably required by
Administrative Agent or Collateral Agent, for the exercise of any rights,
powers and remedies of the Collateral Agent or: (i) to perfect the security
created or intended to be created under or evidenced by the Collateral
Documents (which may include the execution of a mortgage, charge, assignment or
other security over all or any of the assets which are, or are intended to be,
the subject of security pursuant to the Collateral Documents) or the Credit Parties
provided by or pursuant to the Credit Documents or by law; (ii) to confer on
the Collateral Agent or confer on the Credit Parties security over any property
and assets of that Credit Party located in any jurisdiction equivalent or
similar to the security intended to be conferred by or pursuant to the
Collateral Documents; and/or (iii) to facilitate the realization of the assets
which are, or are intended to be, the subject of the Collateral Documents.  Each Credit Party shall (and Holdings shall
procure that each member of the Group shall) take all such action as is
available to it (including making all filings and registrations) as may be
reasonably necessary for the purpose of the creation, perfection, protection or
maintenance of any security conferred or intended to be conferred on the
Collateral Agent or the Credit Parties by or pursuant to the Credit Documents.

5.14.  
[Reserved].

 96

5.15.   Financial Assistance.  Each of the Borrowers will (i) procure (to
the extent it is lawful to do so) that each Subsidiary of Holdings transfers
sufficient funds to enable such Borrower to meet its payment obligations under
the Credit Documents as they fall due, except to the extent such transfer would
have any adverse tax consequence for the Borrowers or where it otherwise would
be against applicable law (including financial assistance and corporate benefit
rules, restrictions on upstreaming cash intra-Group and fiduciary and statutory
duties of directors of the relevant member of the Group) or material
constituent document restrictions (resulting from minority ownership provisions
existing as of the date hereof), and (ii) ensure that all payments among
Holdings and its Subsidiaries (or any of them) have been and will be made in
compliance with applicable local laws or regulations concerning financial
assistance by a company for the acquisition of or subscription for its own
shares or concerning the protection of shareholders’ capital, corporate
benefit, fraudulent preference, “thin capitalization” rules and similar
principles.

5.16.   Intellectual Property.  Each Credit Party shall and Holdings shall
procure that each Group member will (i) preserve and maintain the validity of
the Intellectual Property necessary for the business of the relevant Group
member; (ii) use reasonable endeavors to prevent any infringement in any
material respect of the Intellectual Property, (iii) in such Credit Party’s and
Holdings’ reasonable business judgment, consistent with past business
practices, and to the extent the following are within the applicable Credit
Party’s or Holdings’ actual control, make registrations and pay all
registration fees and taxes necessary to maintain the Intellectual Property in
full force and effect; and (iv) not use or permit the Intellectual Property to
be used in a way (or take any steps or omit to take any step in respect of that
Intellectual Property) that will materially and adversely affect the existence
or value of the Intellectual Property or imperil the right of any member of the
Group to use such property.

5.17.   Post-Closing Covenant.  U.S. Borrower shall use commercially
reasonable efforts to deliver a Landlord Personal Property Collateral Access
Agreement in respect of the Real Estate Asset located at 880 Technology Drive,
Suite A, Ann Arbor, Michigan 48108, which shall be executed by the landlord of
such Real Estate Asset and the U.S. Borrower.

SECTION
6.   NEGATIVE COVENANTS

Each Credit Party covenants and agrees that, so long as any Commitment
is in effect and until payment in full of all Obligations (other than
contingent indemnity obligations not then due and payable) and cancellation or
expiration of all Letters of Credit, such Credit Party shall perform, and shall
cause each of its Subsidiaries to perform, all covenants in this Section 6.

6.1.   Indebtedness.  No Credit Party shall, nor shall it permit
any of its Subsidiaries to, directly or indirectly, create, incur, assume or
guaranty, or otherwise become or remain directly or indirectly liable with
respect to any Indebtedness, except:

(a)   the Obligations;

(b)   Indebtedness of (i) any Domestic Guarantor
or U.S. Borrower owed to any other Domestic Guarantor or U.S. Borrower, (ii)
the Euro Borrowers owed to any other Borrower or any Guarantor, (iii) any
Foreign Guarantor owed to any other Borrower or any 

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Guarantor; provided, that in the case
of (i), (ii) and (iii) (1) all such Indebtedness shall be evidenced by
Intercompany Notes, which shall be subject to a First Priority Lien pursuant to
the Pledge and Security Agreement or another Collateral Document, with respect
to the Intercompany Note evidencing debt owed to a Domestic Subsidiary or U.S.
Borrower, securing the Domestic Loans and the European Loans, and with respect
to the Intercompany Note evidencing the debt owed to a Foreign Subsidiary or a
Euro Borrower, securing the European Loans only (subject to Section 7.13) and
(2) all such Indebtedness shall be unsecured and subordinated in right of
payment to the payment in full of the Obligations pursuant to the terms of the
Intercompany Note;

(c)   [reserved];

(d)   [reserved];

(e)   Indebtedness incurred by Holdings or any of
its Subsidiaries arising from agreements providing for indemnification,
holdbacks, working capital or other purchase price adjustments, earn-outs,
non-compete agreements, deferred compensation or similar obligations, or from
guaranties or letters of credit, surety bonds or performance bonds securing the
performance of Borrowers or any such Subsidiary pursuant to such agreements, in
connection with the Acquisition, Permitted Acquisitions or permitted
dispositions of any business, assets or Subsidiary of Holdings or any of its
Subsidiaries;

(f)   Indebtedness which may be deemed to exist
pursuant to any guaranties, performance, surety, statutory, appeal bonds or
similar obligations incurred in the ordinary course of business;

(g)   Indebtedness in respect of netting services,
overdraft protections and otherwise in connection with deposit accounts;

(h)   guaranties in the ordinary course of
business of the obligations to suppliers, customers, franchisees and licensees
of Holdings and its Subsidiaries;

(i)   guaranties (i) by U.S. Borrower or a
Domestic Guarantor of Indebtedness of U.S. Borrower, a Domestic Guarantor, Euro
Borrower or Foreign Guarantor, and (ii) by either Euro Borrower or Foreign
Guarantor of Indebtedness of the other Euro Borrower or a Foreign Guarantor,
with respect, in each case, to Indebtedness otherwise permitted to be incurred
pursuant to this Section 6.1; provided, that in the case of (i) and (ii)
that if the Indebtedness that is being guarantied is unsecured and/or
subordinated to the Obligations, the guaranty shall also be unsecured and/or
subordinated to the Obligations;

(j)   Indebtedness described in Schedule 6.1, but
not any extensions, renewals or replacements of such Indebtedness except (i)
renewals and extensions expressly provided for in the agreements evidencing any
such Indebtedness as the same are in effect on the date of this Agreement and
(ii) refinancings and extensions of any such Indebtedness if the terms and
conditions thereof are not less favorable to the obligor thereon or to the
Lenders than the Indebtedness being renewed, refinanced or extended, and the
average life to maturity thereof is greater than or equal to that of the
Indebtedness being renewed, refinanced or extended; provided, such
Indebtedness permitted under the immediately preceding clause (i) or (ii) 

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above shall not (A) include Indebtedness
of an obligor that was not an obligor with respect to the Indebtedness being
extended, renewed or refinanced, (B) exceed in a principal amount the
Indebtedness being renewed, extended or refinanced or (C) be incurred, created
or assumed if any Default or Event of Default has occurred and is continuing or
would result therefrom;

(k)   Indebtedness with respect to Capital Leases
in an aggregate amount not to exceed at any time $20,000,000;

(l)   purchase money Indebtedness in an aggregate
amount not to exceed at any time $20,000,000; provided, any such
Indebtedness (i) shall be secured only by the asset acquired in connection with
the incurrence of such Indebtedness, and (ii) shall constitute not less than
90% of the aggregate consideration paid with respect to such asset;

(m)   (i) Indebtedness of a Person or Indebtedness
attaching to assets of a Person that, in either case, becomes a Subsidiary of a
Borrower or Indebtedness attaching to assets that are acquired by Holdings or
any of its Subsidiaries, in each case after the Closing Date as the result of a
Permitted Acquisition, in an aggregate amount not to exceed $50,000,000 at any
one time outstanding, provided that (x) such Indebtedness existed at the time
such Person became a Subsidiary or at the time such assets were acquired and,
in each case, was not created in anticipation thereof and (y) such Indebtedness
is not guaranteed in any respect by Holdings or any Subsidiary (other than by
any such Person that so becomes a Subsidiary of such Borrower), and (ii) any
refinancing, refunding, renewal or extension of any Indebtedness specified in
subclause (i) above, provided, that (1) the principal amount of any such
Indebtedness is not increased above the principal amount thereof outstanding
immediately prior to such refinancing, refunding, renewal or extension, (2) the
direct and contingent obligors with respect to such Indebtedness are not
changed and (3) such Indebtedness shall not
be secured by any assets other than the assets securing the Indebtedness being
renewed, extended or refinanced;

(n)   other Indebtedness of Holdings and its
Subsidiaries in an aggregate amount not to exceed at any time $25,000,000;
provided that such amount shall only be secured to the extent permitted under
Section 6.2(x);

(o)   Indebtedness owed to any Person providing
property, casualty, business interruption or liability insurance to Borrowers
or any Subsidiary of Borrowers, so long as such Indebtedness shall not be in
excess of the amount of the unpaid cost of, and shall be incurred only to defer
the cost of, such insurance for the annual period in which such Indebtedness is
incurred and such Indebtedness shall be outstanding only during such year;

(p)   unsecured Indebtedness of Holdings owing to
any then existing or former director, officer or employee of Holdings, Holdings
or its Subsidiaries or their respective assigns, estates, heirs or their
current or former spouses for the repurchase, redemption or other acquisition
or retirement for value of any equity interest or equity equivalent of Holdings
or Solera Holdings, Inc. held by them to the extent such transaction was
permitted under Section 6.5(h);

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(q)   [reserved];

(r)   accretion or amortization of original issue
discount and accretion of interest paid in kind, in each case in respect of
Indebtedness otherwise permitted by this Section 6.1;

(s)   unsecured Indebtedness incurred to fund any
Permitted Acquisition or permitted Joint Venture; provided that (A) such
Indebtedness shall have no amortization prior to the Term Loan Maturity Date,
(B) the final maturity of such Indebtedness shall be at least 6 months
following the Term Loan Maturity Date and (C) if immediately after giving
effect to the incurrence of such Indebtedness and such Permitted Acquisition or
Joint Venture, the Leverage Ratio would exceed 4.50:1.00, the Leverage Ratio
immediately prior to the time of such purchase or acquisition shall not be less
than the pro forma Leverage Ratio immediately after giving effect to such purchase
or acquisition, it being understood that in each case the pro forma Leverage
Ratio shall be determined on the basis of the financial statements most
recently delivered to the Administrative Agent and the Lenders as though such
incurrence of Indebtedness and such purchase or other acquisition had been
consummated as of the first day of the fiscal period covered thereby;

(t)   deemed Indebtedness
pursuant to FASB 133 or 150;

(u)   obligations under any Interest Rate
Agreement and any Currency Agreement; and

(v)   other Indebtedness of Holdings and its
Subsidiaries, which is unsecured and subordinated to the Obligations in a
manner reasonably satisfactory to Administrative Agent, consistent with
subordination terms under which unsecured indebtedness is subordinated in prior
transactions of this kind by comparable portfolio companies of the Sponsor; provided
that the pro forma Leverage Ratio after giving effect to the incurrence of such
Indebtedness is less than 4.50:1.00.

6.2.   Liens.  No Credit
Party shall, nor shall it permit any of its Subsidiaries to, directly or
indirectly, create, incur, assume or permit to exist any Lien on or with
respect to any property (including real property) or asset of any kind
(including any document or instrument in respect of goods or accounts
receivable) of Holdings or any of its Subsidiaries, whether now owned or
hereafter acquired or licensed, or any income, profits or royalties therefrom,
or file or permit the filing of, or permit to remain in effect, any financing
statement or other similar notice of any Lien with respect to any such
property, asset, income, profits or royalties under the UCC of any State or
under any similar recording or notice statute or under the intellectual
property laws, rules or procedures, except:

(a)   Liens in favor of Collateral Agent, for the
benefit of Secured Parties granted pursuant to any Credit Document;

(b)   Liens for Taxes which are not yet due and
payable or which are being contested in good faith by appropriate actions or
proceedings promptly instituted and diligently conducted or which are not
otherwise required to be paid pursuant to Section 5.3;

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(c)   statutory Liens of landlords, banks (and
rights of set-off), of carriers, warehousemen, mechanics, repairmen,
workmen and materialmen, and other Liens imposed by law (other than any such
Lien imposed pursuant to Section 401 (a)(29) or 412(n) of the Internal Revenue
Code or by ERISA), in each case incurred in the ordinary course of business (i)
for amounts not yet overdue or (ii) for amounts that are overdue and that (in
the case of any such amounts overdue for a period in excess of five days) are
being contested in good faith by appropriate proceedings, so long as such
reserves or other appropriate provisions, if any, as shall be required by GAAP
shall have been made for any such contested amounts;

(d)   Liens incurred in the ordinary course of
business in connection with workers’ compensation, unemployment insurance and
other types of social security, or to secure the performance of tenders,
statutory obligations, surety and appeal bonds, bids, leases, government
contracts, trade contracts, performance and return-of-money bonds
and other similar obligations (exclusive of obligations for the payment of
borrowed money or other Indebtedness), so long as no foreclosure, sale or
similar proceedings have been commenced with respect to any portion of the
Collateral on account thereof;

(e)   zoning restrictions, building code,
easements, rights-of-way, reservations restrictions, encroachments,
and other defects or irregularities in title or matters that would be disclosed
by a survey of any real property, in each case which do not and will not
interfere in any material respect with the ordinary conduct of the business of
Holdings or any of its Subsidiaries;

(f)   any interest or title of a licensor, lessee,
lessor or sublessor under any operating lease or sublease of real estate not
prohibited hereunder and any Lien encumbering such interest or title of a
lessor or sublessor;

(g)   Liens solely on any cash earnest money
deposits made by Holdings or any of its Subsidiaries in connection with any
letter of intent or purchase agreement permitted hereunder;

(h)   purported Liens evidenced by the filing of
precautionary UCC financing statements relating solely to operating leases of
personal property or consignments or similar arrangements entered into in the
ordinary course of business;

(i)   Liens in favor of customs and revenue
authorities arising as a matter of law to secure payment of customs duties in
connection with the importation of goods;

(j)   any zoning or similar law or right reserved
to or vested in any governmental office or agency to control or regulate the
use of any real property;

(k)   licenses of patents, copyrights, trademarks
and other intellectual property rights granted by Holdings or any of its
Subsidiaries in the ordinary course of or not materially detracting from the
value of business and not interfering in any material respect with the ordinary
conduct of the business of Holdings or such Subsidiary;

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(l)   Liens described in Schedule 6.2 and any
modifications, replacements, renewals or extensions thereof; provided,
that (A) the Lien does not extend to any additional property other than (x)
after-acquired property that is affixed or incorporated into the property
covered by such Lien or financed by Indebtedness permitted under Section 6.1(j)
and (y) proceeds and products thereof, and (B) the renewal, extension or
modification of the obligations secured or benefited by such Liens is permitted
by Section 6.1(j);

(m)   Liens securing Indebtedness permitted
pursuant to Section 6.1(j), (k) and (l); provided, any such Lien shall
encumber only the asset acquired with the proceeds of such Indebtedness;

(n)   [reserved];

(o)   [reserved];

(p)   pledges or deposits of cash and Cash
Equivalents securing deductibles, self-insurance, co-payment, co-insurance,
retentions or similar obligations to providers of property, casualty or
liability insurance in the ordinary course of business;

(q)   Liens on insurance policies and the proceeds
thereof securing the financing of the premiums with respect thereto permitted
under Section 6.1;

(r)   licenses, leases or subleases granted to
third Persons or to Holdings or its Subsidiaries by Holdings and its Subsidiaries
in the ordinary course of business not interfering in any material respect with
the business of any Credit Party;

(s)   Liens arising from judgments, decrees or
attachments (or securing of appeal bonds with respect thereto) in circumstances
not constituting an Event of Default;

(t)   any Lien existing on any asset of any Person
at the time such Person becomes a Subsidiary of any Borrower and not created in
contemplation of such event;

(u)   any Lien on any asset (other than on the
Equity Interests of one or more Subsidiaries) of any Person existing at the
time such Person is merged or consolidated with or into the Borrower or a
Subsidiary of the Borrower in a transaction otherwise permitted hereunder and
not created in contemplation of such event;

(v)   any Lien existing on any asset (other than
on the Equity Interests of one or more Subsidiaries) prior to the acquisition
thereof by the Borrower or a Subsidiary of the Borrower in a transaction
otherwise permitted hereunder and not created in contemplation of such
acquisition;

(w)   [reserved];
and

(x)   other Liens securing
Indebtedness permitted under Section 6.1 if the aggregate amount of the
obligations or liabilities secured thereby does not exceed $15,000,000 at any
time.

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6.3.   Equitable Lien.  If any Credit
Party shall create or assume any Lien upon any of its properties or assets,
whether now owned or hereafter acquired, other than Permitted Liens, it shall
make or cause to be made effective provisions whereby the Obligations will be
secured by such Lien equally and ratably with any and all other Indebtedness
secured thereby as long as any such Indebtedness shall be so secured; provided,
notwithstanding the foregoing, this covenant shall not be construed as a
consent by Requisite Lenders to the creation or assumption of any such Lien not
otherwise permitted hereby.

6.4.   No Further Negative Pledges.  Except with respect to (a) specific property
encumbered to secure payment of particular Indebtedness or to be sold pursuant
to an executed agreement with respect to a permitted Asset Sale and (b)
restrictions by reason of customary provisions restricting assignments,
subletting or other transfers contained in leases, licenses and similar
agreements entered into in the ordinary course of business (provided that such
restrictions are limited to the property or assets secured by such Liens or the
property or assets subject to such leases, licenses or similar agreements, as
the case may be), no Credit Party nor any of its Subsidiaries shall enter into
any agreement prohibiting the creation or assumption of any Lien upon any of
its properties or assets, whether now owned or hereafter acquired, to secure
the Obligations.

6.5.   Restricted Junior Payments.  No Credit Party shall, nor shall it permit
any of its Subsidiaries or Affiliates through any manner or means or through
any other Person to, directly or indirectly, declare, order, pay, make or set
apart, or agree to declare, order, pay, make or set apart, any sum for any
Restricted Junior Payment except that:

(a)   [reserved];

(b)   Borrowers may make Restricted Junior
Payments to Holdings to the extent necessary to permit (i) Holdings or Solera
Holdings, Inc. to pay general administrative costs and expenses (including
officers’ and directors’ and special committee fees) and Tax Distributions (as
defined below); (ii) Holdings to discharge the consolidated tax liabilities of
Holdings or Solera Holdings, Inc. and its Subsidiaries, in each case so long as
Holdings or Solera Holdings, Inc. applies the amount of any such Restricted
Junior Payment for such purpose; and (iii) Holdings to pay to a non-Guarantor
Affiliate the amount of any reasonable costs, expenses or taxes incurred by
such Affiliate in connection with such Affiliate’s compliance with Section
2.14(g);

(c)   for so long as Holdings is a pass-through or
disregarded entity for United States Federal income tax purposes, Holdings may
make cash distributions to its members to provide them with funds to pay the
tax liability attributable to their share of the taxable income (including UBTI
or 956 deemed dividend income) of Holdings (or, if such members are themselves
pass-through or disregarded entities, to provide such members with funds to
make distributions to their members so that their direct or indirect members
have funds to pay the tax liability attributable to their share of the taxable
income of Holdings) (“Tax Distributions”),
equal to the product of (i) the amount of taxable income (including UBTI or 956
deemed dividend income) of Holdings allocated to the members for such taxable
year, less the amount of taxable loss allocated to the members for all prior
taxable years (except to the extent such taxable losses have previously been
taken into account under this provision), 

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times (ii) the highest aggregate marginal
statutory Federal, state and local income tax rate (determined taking into
account the deductibility of state and local income taxes for Federal income
tax purposes) to which each direct member (or each nearest indirect member that
is not a pass-through or disregarded entity if a direct member is a
pass-through or disregarded entity) of Holdings is subject for such year.  Holdings shall be permitted to make such
payments on a quarterly basis during such taxable year based on its best estimate
of the amounts specified in clauses (i) and (ii) in the preceding sentence; provided
that if the aggregate amount of the estimated Tax Distributions made in any
taxable year of Holdings exceeds the actual maximum amount of Tax Distributions
for that year as finally determined, the amount of any Tax Distributions in the
succeeding taxable year (or, if necessary, any subsequent taxable years) shall
be reduced by the amount of such excess. 
Borrowers may make distributions to Holdings sufficient to allow it to
make Tax Distributions to its members;

(d)   [reserved];

(e)   Borrowers may pay, or make Restricted Junior
Payments to Holdings to allow it to reimburse Sponsor and its Affiliates for
any reasonable and customary out-of-pocket costs and expenses incurred by
Sponsor and its Affiliates;

(f)   any Subsidiary of the U.S. Borrower may make
Restricted Junior Payments to the U.S. Borrower or any holder of the Capital
Stock of such Subsidiary (pro rata based on the ownership interest of such
holders);

(g)   any
Subsidiary of the Euro Borrower may make Restricted Junior Payments to the Euro
Borrower or to any or any holder of the Capital Stock of such Subsidiary (pro
rata based on the ownership interest of such holders);

(h)   Borrowers may pay Restricted Junior Payments
to Holdings and Solera Holdings, Inc. to enable Holdings to pay cash
dividends to Solera Holdings, Inc. and redeem or repurchase Capital
Stock from officers, employees and directors of any Credit Party or Solera
Holdings, Inc. (or their estates, spouses, descendants or former spouses) upon
the death, disability, retirement or termination of such Person’s employment or
directorship; provided, that the aggregate amount of all cash paid in
respect of all such Capital Stock so redeemed, or repurchased in any Fiscal
Year shall not exceed the sum of (i) $10,000,000 plus (ii) all amounts obtained
by Holdings or the Borrowers during such Fiscal Year from the sale of such
Capital Stock to other present or former officers, employees and directors in
connection with any permitted compensation and incentive arrangements plus
(iii) all amounts obtained from any key-man life insurance policies received
during such Fiscal Year plus (iv) any unused amounts under subclause (i) of
this clause (h)  from any immediately preceding Fiscal
Year;

(i)   so long as no Default or Event of Default
shall have occurred and be continuing or shall be caused thereby, (a) Borrowers
may make Restricted Junior Payments to Holdings or Solera Holdings, Inc. to
allow it to pay cash dividends to its stockholders or purchase, redeem, retire
or otherwise acquire shares of its own outstanding Capital Stock for cash if,
after giving effect thereto, the pro forma Leverage Ratio would be equal to or
less 

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than 3.00:1.00, as determined on the basis of
the financial statements most recently delivered to the Administrative Agent as
though such dividends, purchases, redemptions, retirements and acquisitions
(and any related financings) has been paid or made as of the first day of the
fiscal period covered thereby or (b) Borrowers may  make Restricted
Junior Payments to Holdings  or
Solera Holdings, Inc. to allow it to pay cash dividends to its stockholders or
purchase, redeem, retire or otherwise acquire shares of its own outstanding
Capital Stock for cash in an amount equal to 25% of cumulative Consolidated
Excess Cash Flow from the Effective Date less any amounts previously
paid pursuant to this Section 6.5(i)(b), if the pro forma Leverage Ratio is
greater that 3:00:1.00, as determined on the basis of the financial statements
most recently delivered to the Administrative Agent as though such dividends,
purchases, redemptions,  retirements
and acquisitions (and any related financings) has been paid or made as of the
first day of the fiscal period covered thereby;

(j)   subject to any applicable subordination
terms, any Credit Party may pay or make Restricted Junior Payments in respect
of interest on Indebtedness permitted under Section 6.1(s) and Section 6.1(v);

(k)   if at any time (whether or not at the end of
a Fiscal Quarter) the Leverage Ratio for Holdings and its Subsidiaries is equal
to or less than 4.50 to 1.00 (calculated, if applicable, after giving pro forma
effect to (i) a Qualifying IPO or any other equity offering occurring on or
prior to the date of determination and any application of the proceeds thereof
and (ii) the Restricted Junior Payments to be made pursuant to this Section
6.5(k) at the date of determination), then Holdings and its Subsidiaries may
make Restricted Junior Payments on account of any Indebtedness incurred under
Section 6.1(s) and Section 6.1(v); and

(l)   Restricted Payments to the extent consisting
of a refinancing, renewal or replacement of indebtedness pursuant to Section
6.1(s) or Section 6.1(v).

6.6.   Restrictions on Subsidiary Distributions.  Except as provided herein, no Credit Party
shall, nor shall it permit any of its Subsidiaries to, create or otherwise
cause or suffer to exist or become effective any consensual encumbrance or
restriction of any kind on the ability of any Subsidiary of Holdings to (a) pay
dividends or make any other distributions on any of such Subsidiary’s Capital
Stock owned by a Borrower or any other Subsidiary of a Borrower, (b) repay or
prepay any Indebtedness owed by such Subsidiary to a Borrower or any other
Subsidiary of a Borrower, (c) make loans or advances to a Borrower or any other
Subsidiary of a Borrower, or (d) transfer, lease or license any of its property
or assets to a Borrower or any other Subsidiary of a Borrower other than restrictions
(i) in agreements evidencing Indebtedness permitted by Section 6.1(l) that
impose restrictions on the property so acquired, (ii) by reason of customary
provisions restricting assignments, subletting or other transfers contained in
leases, licenses, joint venture agreements or documents governing non-wholly
owned Subsidiaries and similar agreements entered into in the ordinary course
of business, (iii) set forth in documents governing Joint Ventures or
non-wholly Owned Subsidiaries as of the Closing Date or established after the
Closing Date to the extent they are no more burdensome than the restrictions
set forth in such documents in existence as of the Closing Date, (iv) that are
or were created by virtue of any transfer of, agreement to transfer or option
or right with respect to any property, assets or Capital Stock not otherwise
prohibited under this Agreement or (v) described on Schedule 6.6.

 105
 

6.7.   Investments.  No Credit
Party shall, nor shall it permit any of its Subsidiaries to, directly or
indirectly, make or own any Investment in any Person, including without
limitation any Joint Venture, except:

(a)   Investments in Cash and Cash Equivalents;

(b)   (i) equity Investments owned as of the
Closing Date in any Subsidiary, (ii) equity Investments made after the Closing
Date by U.S. Borrower or any Domestic Guarantor in any wholly-owned Guarantor
and (iii) equity Investments made after the Closing Date by Euro Borrowers or
Foreign Guarantors in any Foreign Guarantor;

(c)   Investments (i) in any Securities received
in satisfaction or partial satisfaction thereof from financially troubled
account debtors and (ii) deposits, prepayments and other credits to suppliers
made in the ordinary course of business;

(d)   intercompany loans to the extent permitted
under Section 6.1(b);

(e)   Consolidated Capital Expenditures with
respect to Borrowers and the Guarantors permitted by Section 6.8(d);

(f)   loans and advances to employees of Holdings
and its Subsidiaries made in the ordinary course of business in an aggregate
principal amount not to exceed $2,000,000;

(g)   Permitted Acquisitions permitted pursuant to
Section 6.9;

(h)   Investments made after the Closing Date in
Joint Ventures in a business or line of business permitted with respect to the
Credit Parties and the Subsidiaries under Section 6.13, provided,  (i) immediately prior to the making of any
such Investment, and after giving effect thereto, no Default or Event of
Default shall have occurred and be continuing, (ii) all transactions in
connection therewith shall be consummated, in all material respects, in
accordance with all applicable laws and in conformity with all applicable
Governmental Authorizations and (iii) the applicable Credit Party shall use
commercially reasonable efforts to ensure that such Investments can be legally
maintained, and are maintained, as Collateral (but only to the extent of
Borrowers’ and each other Credit Party’s interest in such Joint Venture)
subject to first priority security interests on such terms and conditions as
are reasonably satisfactory to Administrative Agent; provided, that the
aggregate amount of all Investments in Joint Ventures established after the
Closing Date pursuant to this clause (h) does not exceed the sum of (x)
$20,000,000 per Fiscal Year plus (y) an amount equal to the excess, if
any, of such permitted amount for the previous Fiscal Year (after giving effect
to any adjustments pursuant to this proviso in such prior Fiscal Year) over the
actual amount of Investments made pursuant to this Section 6.7(h) in such
previous Fiscal Year; and provided  further, that the
incorporation, formation or other organization of such Joint Venture, when
considered in connection with each Guarantor’s obligations under the Credit
Documents, does not result in such Guarantor’s contravention of any applicable
financial assistance rules;

(i)   Investments described in Schedule 6.7;

 106
 

(j)   Investments constituting Hedge Agreements or
Interest Rate Agreements to the extent permitted hereunder;

(k)   other Investments in (x) Persons which are
not Subsidiaries of Holdings or (y) non-Guarantor Subsidiaries of Holdings; provided,
that the aggregate amount of all Investments made pursuant to this clause (k)
shall not exceed at any time $20,000,000;

(l)   Investments in Sidexa S.A. and Audatex
Espana S.A. to the extent required pursuant to the exercise of option rights
set forth in the Organizational Documents of such Persons; provided,
that the aggregate amount of all Investments made pursuant to this clause (l)
shall not exceed at any time $20,000,000;

(m)   Investments arising out of the receipt by
the Borrower or any of its Subsidiaries of non-cash consideration for the sale
of assets permitted under Section 6.9;

(n)   non-Cash or Cash Equivalent loans made by
the Borrowers to officers and employees of the Borrowers or its Subsidiaries
the proceeds of which are used to purchase Holdings or Solera Holdings, Inc.
Capital Stock;

(o)   to the extent permitted under Section 6.2,
Borrowers or any Subsidiary may make (i) deposits in the ordinary course of
business consistent with past practices to secure the performance of operating
leases and payment of utility contracts  and (ii) good faith deposits required in connection with
Permitted Acquisition and Joint Ventures permitted under this Section 6.7;

(p)   Investments in an aggregate amount not to
exceed $10,000,000.

Notwithstanding
the foregoing, in no event shall any Credit Party make any Investment which
results in or facilitates in any manner any Restricted Junior Payment not otherwise
permitted under the terms of Section 6.5.

6.8.  
Financial Covenants.

(a)   [reserved]

(b)   Leverage Ratio.  So long as at least $10,000,000 of Revolving
Loans (excluding any outstanding and undrawn Letters of Credit) are outstanding
for at least 10 days during the immediately preceding Fiscal Quarter, Holdings
shall not permit the Leverage Ratio as of the last day of such Fiscal Quarter,
beginning with the Fiscal Quarter ending June 30, 2007, to exceed the
correlative ratio indicated:

	
  Fiscal Quarter

  	
   

  	
  Leverage Ratio

  	
   

  
	
  March 31, 2007 through December 31, 2007

  	
   

  	
  5.25:1.00

  	
   

  
	
  March 31, 2008

  	
   

  	
  5.10:1.00

  	
   

  
	
  June 30, 2008

  	
   

  	
  4.85:1.00

  	
   

  

 

 107
 

 

	
  Fiscal Quarter

  	
   

  	
  Leverage Ratio

  	
   

  
	
  September 30, 2008

  	
   

  	
  4.55:1.00

  	
   

  
	
  December 31, 2008

  	
   

  	
  4.25:1.00

  	
   

  
	
  March 31, 2009

  	
   

  	
  4.00:1.00

  	
   

  
	
  June 30, 2009

  	
   

  	
  3.80:1.00

  	
   

  
	
  September 30, 2009

  	
   

  	
  3.60:1.00

  	
   

  
	
  December 31, 2009

  	
   

  	
  3.40:1.00

  	
   

  
	
  March 31, 2010

  	
   

  	
  3.20:1.00

  	
   

  
	
  June 30, 2010
  and thereafter

  	
   

  	
  3.00:1.00

  	
   

  

 

(c)   [reserved]

(d)   Maximum Consolidated Capital Expenditures.  Holdings shall not, and shall not permit its
Subsidiaries to, make or incur Consolidated Capital Expenditures, in any Fiscal
Year, in an aggregate amount for Holdings and its Subsidiaries in excess of
$30,000,000; provided, such amount for any Fiscal Year shall be
increased by an amount equal to the excess, if any, of such amount for the
previous Fiscal Year over the actual amount of Consolidated Capital
Expenditures for such previous Fiscal Year.

Notwithstanding the foregoing, Borrowers and their
Subsidiaries may make Consolidated Capital Expenditures (which Consolidated
Capital Expenditures will not be included in the amount set forth in the table
above) with (A) the Net Asset Sale Proceeds that are not required to be applied
to prepay Loans and to the extent not used for any other purpose, (B) Net Insurance/Condemnation Proceeds that are not required to be applied to
prepay Loans and to the extent not used for any other purpose, (C) proceeds of
equity not required to be used to prepay the Loans and to the extent not used
for any other purpose and (D) that portion of Consolidated Excess Cash Flow for the fiscal years ended
after the Closing Date, if any, not required to be used to prepay or cash
collateralize outstanding obligations hereunder or utilized to make Investments
or to make Restricted Payments Junior Payments and to the extent not used for
any other purpose.

The aggregate
expenditures made by the Borrower and its Subsidiaries with respect to
Permitted Acquisitions during any fiscal year or period which expenditures
constitute Consolidated Capital Expenditures as defined herein shall for all
purposes of this Agreement be excluded in any determination of Consolidated
Capital Expenditures under this Section 6.8(d).

(e)   Right to Cure.  Notwithstanding anything to the contrary
contained in this Section 6.8 (a), (b) and (c), in the event that any Credit
Party would otherwise be in default of any financial covenant set forth in this
Section 6.8 for any period, on or before the 10th day subsequent to the due
date for delivery of the financial statements for such period pursuant to
Section 5.1(b) or, with respect to the fourth Fiscal Quarter of a Fiscal Year,
5.1(c), Holdings shall have the right to issue Capital Stock which carries no cash
dividend and is not mandatorily redeemable by Holdings or redeemable at the
option 

 108
 

of the holder of such Capital Stock, in each
case, on a date specific that is prior to the day that is 91 days following the
Term Loan Maturity Date for cash or otherwise receive cash contributions from
its equity holders, in either case in an aggregate amount equal to the amount
necessary to cure the relevant failure to comply with all the applicable
financial covenants (collectively, the “Cure Right”), and upon the
receipt by Holdings of such cash (which, in each case, shall be contributed to
the capital of Borrowers (the “Cure Amount”), such
financial covenants shall be recalculated giving effect to the following pro
forma statements:

(i)  
Consolidated Adjusted EBITDA shall be increased for the next four fiscal
quarters, in accordance with the definition thereof, solely for the purpose of
measuring the financial covenants and not for any other purpose under this
Agreement, by an amount equal to the Cure Amount;

(ii)  
if, after giving effect to the foregoing recalculations, the Credit
Parties shall then be in compliance with the requirements of all financial
covenants set forth in this Section 6.8(a), (b) and (c), the Credit Parties
shall be deemed to have satisfied the requirements thereof as of the relevant
date of determination with the same effect as though there had been no failure
to comply therewith at such date, and the applicable breach or default thereof
which had occurred shall be deemed cured for all purposes of the Agreement; and

(iii)  
to the extent that the Cure Amount proceeds are used to repay
Indebtedness, such Indebtedness shall not be deemed to have been repaid for
purposes of calculating the total Leverage Ratio for the period with respect to
which such Compliance Certificate applies or any other Compliance Certificate
including such period.

provided,
(i) that in each four fiscal quarter period, there shall be a period of at
least two consecutive fiscal quarters in respect of which no Cure Right is exercised
and; (ii) that such contribution was not for any other purpose (other than
prepayment of Indebtedness or funding of expenditures in the ordinary course of
business).

6.9.   Fundamental Changes; Disposition of Assets;
Acquisitions.  No Credit Party shall, nor shall it permit
any of its Subsidiaries to, enter into any transaction of merger or
consolidation, or liquidate, wind-up or dissolve itself (or suffer any
liquidation or dissolution), or convey, sell, lease or license, exchange,
transfer or otherwise dispose of, in one transaction or a series of
transactions, all or any part of its business, assets or property of any kind
whatsoever, whether real, personal or mixed and whether tangible or intangible,
whether now owned or hereafter acquired, leased or licensed, or acquire by
purchase or otherwise (other than purchases or other acquisitions of inventory,
materials and equipment and Capital Expenditures in the ordinary course of
business) the business, property or fixed assets of, or stock or other evidence
of beneficial ownership of, any Person or any division or line of business or
other business unit of any Person, except:

(a)  
(i) any Domestic Subsidiary of U.S. Borrower or a Domestic Guarantor may
be merged with or into U.S. Borrower or any Domestic Guarantor, as the case may
be, or be liquidated, wound up or dissolved, or all or any part of its
business, property or assets

 109

may be conveyed, sold, leased, transferred or
otherwise disposed of, in one transaction or a series of transactions, to U.S.
Borrower or any Domestic Guarantor; provided, in the case of such a
merger, U.S. Borrower, or such Domestic Guarantor, as applicable, shall be the
continuing or surviving Person and (ii) any Foreign Subsidiary may be merged
with or into either Euro Borrower or with or into any Foreign Guarantor and,
any Euro Borrower into any other Euro Borrower, or all or any part of its
business, property or assets may be conveyed, sold, leased, transferred or
otherwise disposed of, in one transaction or a series of transactions, to a
Euro Borrower or to any Foreign Guarantor; provided, (1) a Euro Borrower
or the Foreign Guarantor, as the case may be, shall be the continuing,
surviving or succeeding Person, or the transferee of the relevant business,
property or assets, as the case may be, and (2) immediately after such
transaction, the continuing, surviving or succeeding Person(s) or the
transferee(s) shall (A) collectively, have a net worth (calculated on a pro
forma basis) at least equal to the aggregate net worth of the Foreign
Subsidiary and Euro Borrower or Foreign Guarantor, as applicable, immediately
prior thereto and (B) either (i) have freely distributable reserves at least
equal to the aggregate of the freely distributable reserves of such Foreign
Subsidiary and Euro Borrower or Foreign Guarantor, as applicable, immediately
prior thereto, or (ii) be liable without limitation (including as to enforceability,
subject to the Reservations) in respect of its Obligations, as applicable, as a
Borrower and/or Guarantor hereunder;

(b)   sales or other dispositions of assets that
do not constitute Asset Sales;

(c)   Asset Sales, the proceeds of which (valued
at the principal amount thereof in the case of non-Cash proceeds
consisting of notes or other debt Securities and valued at fair market value in
the case of other non-Cash proceeds) are less than $15,000,000 when
aggregated with the proceeds of all other Asset Sales made within the same
Fiscal Year; provided (1) the consideration received for such assets
shall be in an amount at least equal to the fair market value thereof
(determined in good faith by the board of directors of Holdings (or similar governing
body)), (2) no less than 85% thereof shall be paid in Cash, and (3) the Net
Asset Sale Proceeds thereof shall be applied as required by Section 2.14(a);

(d)   disposals of obsolete, worn out or surplus
property;

(e)   sales or liquidations of Cash Equivalents in
the ordinary course of business;

(f)   Permitted Acquisitions;

(g)   disposals of machinery or equipment which
will be replaced or upgraded with machinery or equipment used or useful in the
ordinary course of business;

(h)   the lease, as lessor or sublessor, or
license, as licensor or sublicensor, of real or personal property or
Intellectual Property in the ordinary course of business; provided with
respect to any such leases or licenses made on an exclusive basis, to the
extent the aggregate amount of the present value payment stream (based on a
reasonable good faith calculation of Holdings) received by Holdings or any of
its Subsidiaries with respect to each

 110
 

such exclusive lease or license is in excess
of $7,500,000, such excess amount shall be applied to prepay the Loans pursuant
to Section 2.14(a);

(i)   write-off, discount, sell or otherwise
dispose of defaulted  or past due
receivables and similar obligations in the ordinary course of business;

(j)   issue Capital Stock to qualify directors of
the board of directors (or similar governing body) of Holdings or any of its
Subsidiaries where required by applicable law or to satisfy other requirements
of applicable law with respect to the ownership of Capital Stock in Foreign
Subsidiaries or nominal shares for tax considerations;

(k)   to the extent the proceeds are applied in
accordance with Section 2.14(a), (i) sales of
non-core, duplicative or unnecessary assets acquired in Permitted Acquisitions
and (ii) sales of Excluded Subsidiaries;

(l)   the sale of the UK property being located at
Forum II, Station Road, Theale, UK; and

(m)   Investments made in accordance with Section
6.7.

6.10.   Disposal of Subsidiary Interests.  Except for any sale of all of its interests
in the Capital Stock of any of its Subsidiaries in compliance with the
provisions of Section 6.9, no Credit Party shall, nor shall it permit any of
its Subsidiaries to, (a) directly or indirectly sell, assign, pledge or
otherwise encumber or dispose of any Capital Stock of any of its Subsidiaries,
except to qualify directors if required by applicable law; or (b) permit any of
its Subsidiaries directly or indirectly to issue, sell, assign, pledge or
otherwise encumber (other than pursuant to, and as permitted by, the First Lien
Credit Documents) or dispose of any Capital Stock of any of its Subsidiaries,
except to another Credit Party (subject to the restrictions on such disposition
otherwise imposed hereunder), or to qualify directors if required by applicable
law.

6.11.   Sales and Lease-Backs.  No Credit Party shall, nor shall it permit
any of its Subsidiaries to, directly or indirectly, become or remain liable as
lessee or as a guarantor or other surety with respect to any lease of any
property (whether real, personal or mixed), whether now owned or hereafter
acquired, which such Credit Party (a) has sold or transferred or is to sell or
to transfer to any other Person (other than Holdings or any of its
Subsidiaries), or (b) intends to use for substantially the same purpose as any
other property which has been or is to be sold or transferred by such Credit
Party to any Person (other than Holdings or any of its Subsidiaries) in
connection with such lease other than the sale and lease-back of the UK
property being located at Forum II, Station Road, Theale, UK.

6.12.   Transactions with Shareholders and
Affiliates.  No Credit
Party shall, nor shall it permit any of its Subsidiaries to, directly or
indirectly, enter into or permit to exist any transaction (including the
purchase, sale, lease or exchange of any property or the rendering of any
service) with any Affiliate of Holdings on terms that are not arm’s length; provided,
the foregoing restriction shall not apply to (a) any transaction between any
Borrower and any Guarantor to the extent otherwise permitted by the terms
hereof; (b) reasonable and customary fees paid to members of the board of
directors (or similar governing body) of Holdings and its Subsidiaries; (c)
compensation arrangements, indemnities and reimbursements of expenses for 

 111
 

officers and other
employees of Holdings and its Subsidiaries entered into in the ordinary course
of business; and (d) transactions described in Schedule 6.12; (e) any of the
Unit Purchase Agreement, the Registration Rights Agreement and the Senior Management
Agreements; and (f) payments of taxes due to pass through status of Holdings
permitted pursuant to Section 6.5(c).

6.13.   Conduct of Business.  From and after the Closing Date, no Credit
Party shall, nor shall it permit any of its Subsidiaries to, engage in any
business other than (i) the businesses engaged in by such Credit Party on the
Closing Date and similar, complimentary or related businesses and
(ii) such other lines of business as may be consented to by Requisite
Lenders.

6.14.   Permitted Activities of Holdings.  Holdings shall not (a) incur, directly or
indirectly, any Indebtedness or any other obligation or liability whatsoever
other than the Indebtedness and obligations under this Agreement, the other
Credit Documents and the Related Agreements; (b) create or suffer to exist any
Lien upon any property or assets now owned or hereafter acquired, leased or
licensed by it other than the Liens created under the Collateral Documents to
which it is a party or permitted pursuant to Section 6.2; (c) engage in any
business or activity or own any assets other than (i) holding, directly or
indirectly, 100% of the Capital Stock of each Borrower and Audatex Holdings,
Inc., (ii) performing its obligations and activities incidental thereto under
the Credit Documents, (including granting Liens and Restricted Junior Payments)
and to the extent not inconsistent therewith, the Related Agreements; (iii)
issuing its own equity interests subject to the terms hereof; (iv) filing tax reports and paying
taxes in the ordinary course; (v) preparing reports to Governmental Authorities
and to its shareholders; (vi) holding directors and shareholders meetings,
preparing corporate records and other corporate activities required to maintain
its separate corporate structure or to comply with applicable Requirements of
Law, (vii) effecting a Qualifying IPO and (viii) making Restricted Junior
Payments and Investments to the extent permitted by this Agreement; (d)
consolidate with or merge with or into, or convey, transfer or lease or license
all or substantially all its assets to, any Person; (e) sell or otherwise
dispose of any Capital Stock of any of its Subsidiaries; (f) create or acquire
any Subsidiary or make or own any Investment in any Person other than
Borrowers; or (g) fail to hold itself out to the public as a legal entity
separate and distinct from all other Persons.

6.15.   Amendments or Waivers of Organizational Documents.  Except as set forth in Section 6.16, no Credit Party shall
nor shall it permit any of its Subsidiaries to, agree to any material
amendment, restatement, supplement or other modification to, or waiver of, any
of its Organizational Documents after the Closing Date without obtaining the
prior written consent of Requisite Lenders to such amendment, restatement,
supplement or other modification or waiver; provided, however,
such consent shall only be required if the amendment, restatement, supplement
or other modification is adverse to the Lenders.

6.16.   Fiscal Year.  No Credit
Party shall, nor shall it permit any of its Subsidiaries to change its Fiscal
Year-end from June 30 (excluding, until such time as their Fiscal Year
shall be changed to June 30, Solera and any Subsidiary acquired (to the extent
permitted hereunder) after the Closing Date whose Fiscal Year is not June 30 at
the time of such acquisition).

6.17.   Limitation with respect to German Credit
Parties.  In the event
of any breach of this Section 6, no Beneficiaries shall be entitled to exercise
or request remedies requiring 

 112
 

specific performance by
any Credit Party incorporated under the laws of Germany of the covenants set
out in this Section 6, including, but without limitation, by means of
injunctive relief.

SECTION
7.   GUARANTY

7.1.   Guaranty of the Obligations.  Subject to the provisions of Section 7.2 and
7.13, Guarantors jointly and severally hereby irrevocably and unconditionally
guaranty to Administrative Agent for the ratable benefit of the Beneficiaries
the due and punctual payment in full of all Obligations when the same shall
become due, whether at stated maturity, by required prepayment, declaration,
acceleration, demand or otherwise (including amounts that would become due but
for the operation of the automatic stay under Section 362(a) of the Bankruptcy
Code, 11 U.S.C. § 362(a) or any equivalent provision in any applicable
jurisdiction) (collectively, the “Guaranteed
Obligations”).

7.2.   Contribution by Guarantors.  Subject to Section 7.13, all Guarantors
desire to allocate among themselves (collectively, the “Contributing Guarantors”), in a fair and
equitable manner, their obligations arising under this Guaranty.  Accordingly, in the event any payment or
distribution is made on any date by a Guarantor (a “Funding Guarantor”) under this Guaranty such that its
Aggregate Payments exceeds its Fair Share as of such date, such Funding
Guarantor shall be entitled to a contribution from each of the other
Contributing Guarantors in an amount sufficient to cause each Contributing
Guarantor’s Aggregate Payments to equal its Fair Share as of such date.  “Fair Share”
means, with respect to a Contributing Guarantor as of any date of
determination, an amount equal to (a) the ratio of (i) the Fair Share
Contribution Amount with respect to such Contributing Guarantor to (ii) the
aggregate of the Fair Share Contribution Amounts with respect to all
Contributing Guarantors multiplied by (b) the aggregate amount paid or
distributed on or before such date by all Funding Guarantors under this
Guaranty in respect of the obligations Guaranteed.  “Fair Share
Contribution Amount” means, with respect to a Contributing Guarantor
as of any date of determination, the maximum aggregate amount of the
obligations of such Contributing Guarantor under this Guaranty that would not
render its obligations hereunder or thereunder subject to avoidance as a
fraudulent transfer or conveyance under Section 548 of Title 11 of the United
States Code or any comparable applicable provisions of state law or would not
be violative of Section 7.13; provided, solely for purposes of
calculating the “Fair Share Contribution
Amount” with respect to any Contributing Guarantor for purposes of
this Section 7.2, any assets or liabilities of such Contributing Guarantor
arising by virtue of any rights to subrogation, reimbursement or indemnification
or any rights to or obligations of contribution hereunder shall not be
considered as assets or liabilities of such Contributing Guarantor.  “Aggregate
Payments” means, with respect to a Contributing Guarantor as of any
date of determination, an amount equal to (1) the aggregate amount of all
payments and distributions made on or before such date by such Contributing
Guarantor in respect of this Guaranty (including, without limitation, in
respect of this Section 7.2), minus (2) the aggregate amount of all payments
received on or before such date by such Contributing Guarantor from the other
Contributing Guarantors as contributions under this Section 7.2.  The amounts payable as contributions
hereunder shall be determined as of the date on which the related payment or
distribution is made by the applicable Funding Guarantor.  The allocation among Contributing Guarantors
of their obligations as set forth in this Section 7.2 

 113
 

shall not be construed in
any way to limit the liability of any Contributing Guarantor hereunder.  Each Guarantor is a third party beneficiary
to the contribution agreement set forth in this Section 7.2.

7.3.   Payment by Guarantors.  Subject to Section 7.2 and 7.13, Guarantors
hereby jointly and severally agree, in furtherance of the foregoing and not in
limitation of any other right which any Beneficiary may have at law or in
equity against any Guarantor by virtue hereof, that upon the failure of
Borrowers to pay any of the Guaranteed Obligations when and as the same shall
become due, whether at stated maturity, by required prepayment, declaration,
acceleration, demand or otherwise (including amounts that would become due but
for the operation of the automatic stay under Section 362(a) of the Bankruptcy
Code, 11 U.S.C. § 362(a) or any equivalent provision in any applicable
jurisdiction), Guarantors will upon demand pay, or cause to be paid, in Cash,
to Administrative Agent for the ratable benefit of Beneficiaries, an amount
equal to the sum of the unpaid principal amount of all Guaranteed Obligations
then due as aforesaid, accrued and unpaid interest on such Guaranteed
Obligations (including interest which, but for Borrowers’ becoming the subject
of a case under the Bankruptcy Code or other similar legislation in any
jurisdiction, would have accrued on such Guaranteed Obligations, whether or not
a claim is allowed against Borrowers for such interest in the related
bankruptcy case) and all other Guaranteed Obligations then owed to
Beneficiaries as aforesaid.

7.4.   Liability of Guarantors Absolute.  Each Guarantor agrees that its obligations
hereunder are irrevocable, absolute, independent and unconditional and shall
not be affected by any circumstance which constitutes a legal or equitable
discharge of a guarantor or surety other than payment in full of the Guaranteed
Obligations (other than contingent indemnity obligations not then due and
payable) or valid release of a Guarantor in accordance with the Credit
Documents.  In furtherance of the foregoing
and without limiting the generality thereof, each Guarantor agrees as follows:

(a)   this Guaranty is a guaranty of payment when
due and not of collectability.  This
Guaranty is a primary obligation of each Guarantor and not merely a contract of
surety;

(b)   Administrative Agent may enforce this
Guaranty upon the occurrence but only during the continuance of an Event of
Default notwithstanding the existence of any dispute between Borrowers and any
Beneficiary with respect to the existence of such Event of Default;

(c)   the obligations of each Guarantor hereunder
are independent of the obligations of Borrowers and the obligations of any
other guarantor (including any other Guarantor) of the obligations of
Borrowers, and a separate action or actions may be brought and prosecuted
against such Guarantor, subject to Section 7.13, whether or not any action is
brought against Borrowers or any of such other guarantors and whether or not
Borrowers are joined in any such action or actions;

(d)   payment by any Guarantor of a portion, but
not all, of the Guaranteed Obligations shall in no way limit, affect, modify or
abridge any Guarantor’s liability for any portion of the Guaranteed Obligations
which has not been paid, subject to Section 7.13.  

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Without limiting the generality of the
foregoing, if Administrative Agent is awarded a judgment in any suit brought to
enforce any Guarantor’s covenant to pay a portion of the Guaranteed
Obligations, such judgment shall not be deemed to release such Guarantor from
its covenant to pay the portion of the Guaranteed Obligations that is not the
subject of such suit, and such judgment shall not, except to the extent
satisfied by such Guarantor, limit, affect, modify or abridge any other
Guarantor’s liability hereunder in respect of the Guaranteed Obligations, in each
case, subject to Section 7.13;

(e)   any Beneficiary, upon such terms as it deems
appropriate, without notice or demand and without affecting the validity or
enforceability hereof or giving rise to any reduction, limitation, impairment,
discharge or termination of any Guarantor’s liability hereunder, from time to
time may (i) renew, extend, accelerate, increase the rate of interest on, or
otherwise change the time, place, manner or terms of payment of the Guaranteed
Obligations; (ii) settle, compromise, release or discharge, or accept or refuse
any offer of performance with respect to, or substitutions for, the Guaranteed
Obligations or any agreement relating thereto and/or subordinate the payment of
the same to the payment of any other obligations; (iii) request and accept
other guaranties of the Guaranteed Obligations and take and hold security for
the payment hereof or the Guaranteed Obligations; (iv) release, surrender,
exchange, substitute, compromise, settle, rescind, waive, alter, subordinate or
modify, with or without consideration, any security for payment of the
Guaranteed Obligations, any other guaranties of the Guaranteed Obligations, or
any other obligation of any Person (including any other Guarantor) with respect
to the Guaranteed Obligations; (v) enforce and apply any security now or
hereafter held by or for the benefit of such Beneficiary in respect hereof or
the Guaranteed Obligations and direct the order or manner of sale thereof, or
exercise any other right or remedy that such Beneficiary may have against any
such security, in each case as such Beneficiary in its discretion may determine
consistent herewith or the applicable Hedge Agreement and any applicable
security agreement, including foreclosure on any such security pursuant to one or
more judicial or nonjudicial sales, whether or not every aspect of any such
sale is commercially reasonable, and even though such action operates to impair
or extinguish any right of reimbursement or subrogation or other right or
remedy of any Guarantor against Borrowers or any security for the Guaranteed
Obligations; and (vi) exercise any other rights available to it under the
Credit Documents or any Hedge Agreements; and

(f)   this Guaranty and the obligations of
Guarantors hereunder shall be valid and enforceable and shall not be subject to
any reduction, limitation, impairment, discharge or termination for any reason
(other than payment in full of the Guaranteed Obligations (other than
contingent indemnity obligations not then due and payable and other than as set
forth in Section 7.13)), including the occurrence of any of the following,
whether or not any Guarantor shall have had notice or knowledge of any of
them:  (i) any failure or omission to
assert or enforce or agreement or election not to assert or enforce, or the
stay or enjoining, by order of court, by operation of law or otherwise, of the
exercise or enforcement of, any claim or demand or any right, power or remedy
(whether arising under the Credit Documents or any Hedge Agreements, at law, in
equity or otherwise) with respect to the Guaranteed Obligations or any
agreement relating thereto, or with respect to any other guaranty of or
security for the payment of the Guaranteed Obligations; (ii) any rescission,
waiver, amendment or modification of, or any consent to departure from, any of
the terms or 

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provisions (including provisions relating to
events of default) hereof, any of the other Credit Documents, any of the Hedge
Agreements or any agreement or instrument executed pursuant thereto, or of any
other guaranty or security for the Guaranteed Obligations, in each case whether
or not in accordance with the terms hereof or such Credit Document, such Hedge
Agreement or any agreement relating to such other guaranty or security; (iii)
the Guaranteed Obligations, or any agreement relating thereto, at any time
being found to be illegal, invalid or unenforceable in any respect; (iv) the
application of payments received from any source (other than payments received
pursuant to the other Credit Documents or any of the Hedge Agreements or from
the proceeds of any security for the Guaranteed Obligations, except to the
extent such security also serves as collateral for indebtedness other than the
Guaranteed Obligations) to the payment of indebtedness other than the
Guaranteed Obligations, even though any Beneficiary might have elected to apply
such payment to any part or all of the Guaranteed Obligations; (v) any
Beneficiary’s consent to the change, reorganization or termination of the
corporate structure or existence of Holdings or any of its Subsidiaries and to
any corresponding restructuring of the Guaranteed Obligations; (vi) any failure
to perfect or continue perfection of a security interest in any collateral
which secures any of the Guaranteed Obligations; (vii) any defenses, set-offs
or counterclaims which Borrowers may allege or assert against any Beneficiary
in respect of the Guaranteed Obligations, including failure of consideration,
breach of warranty, payment, statute of frauds, statute of limitations, accord
and satisfaction and usury; and (viii) any other act or thing or omission, or
delay to do any other act or thing, which may or might in any manner or to any
extent vary the risk of any Guarantor as an obligor in respect of the
Guaranteed Obligations.

7.5.   Waivers by Guarantors.  Each Guarantor hereby waives, to the extent
permitted by applicable law, for the benefit of Beneficiaries:  (a) any right to require any Beneficiary, as
a condition of payment or performance by such Guarantor, to (i) proceed against
any Borrower, any other guarantor (including any other Guarantor) of the
Guaranteed Obligations or any other Person, (ii) proceed against or exhaust any
security held from any Borrower, any such other guarantor or any other Person,
(iii) proceed against or have resort to any balance of any Deposit Account or
credit on the books of any Beneficiary in favor of any Borrower or any other
Person, or (iv) pursue any other remedy in the power of any Beneficiary
whatsoever; (b) any defense arising by reason of the incapacity, lack of
authority or any disability or other defense of any Borrower or any other
Guarantor including any defense based on or arising out of the lack of validity
or the unenforceability of the Guaranteed Obligations or any agreement or
instrument relating thereto or by reason of the cessation of the liability of
any Borrower or any other Guarantor from any cause other than payment in full
of the Guaranteed Obligations; (c) any defense based upon any statute or rule
of law which provides that the obligation of a surety must be neither larger in
amount nor in other respects more burdensome than that of the principal; (d)
any defense based upon any Beneficiary’s errors or omissions in the
administration of the Guaranteed Obligations, except behavior which amounts to
bad faith; (e) (i) any principles or provisions of law, statutory or otherwise,
which are or might be in conflict with the terms hereof and any legal or
equitable discharge of such Guarantor’s obligations hereunder, (ii) the benefit
of any statute of limitations affecting such Guarantor’s liability hereunder or
the enforcement hereof, (iii) any rights to set-offs, recoupments and
counterclaims, and (iv) promptness, diligence and any requirement that any
Beneficiary protect, secure, perfect or insure any security interest or lien or
any property subject thereto; (f) notices, demands, presentments, protests,
notices of protest, notices of dishonor and notices of any action or inaction,
including acceptance hereof, 

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notices of default
hereunder, the Hedge Agreements or any agreement or instrument related thereto,
notices of any renewal, extension or modification of the Guaranteed Obligations
or any agreement related thereto, notices of any extension of credit to any
Borrower and notices of any of the matters referred to in Section 7.4 and any
right to consent to any thereof; and (g) any defenses or benefits that may be
derived from or afforded by law which limit the liability of or exonerate
guarantors or sureties, or which may conflict with the terms hereof.

7.6.   Guarantors’ Rights of Subrogation,
Contribution, etc. 
Until the Guaranteed Obligations (other than contingent indemnity
obligations not then due and payable) shall have been indefeasibly paid in full
and the Revolving Commitments shall have terminated and all Letters of Credit
shall have expired or been cancelled, each Guarantor hereby waives, to the
extent permitted by applicable law, any claim, right or remedy, direct or
indirect, that such Guarantor now has or may hereafter have against any
Borrower or any other Guarantor or any of its assets in connection with this
Guaranty or the performance by such Guarantor of its obligations hereunder, in
each case whether such claim, right or remedy arises in equity, under contract,
by statute, under common law or otherwise and including without limitation (a)
any right of subrogation, reimbursement or indemnification that such Guarantor
now has or may hereafter have against any Borrower with respect to the
Guaranteed Obligations, (b) any right to enforce, or to participate in, any
claim, right or remedy that any Beneficiary now has or may hereafter have
against any Borrower, and (c) any benefit of, and any right to participate in,
any collateral or security now or hereafter held by any Beneficiary.  In addition, until the Guaranteed Obligations
shall have been indefeasibly paid in full and the Revolving Commitments shall
have terminated and all Letters of Credit shall have expired or been cancelled,
each Guarantor shall withhold exercise of any right of contribution such
Guarantor may have against any other guarantor (including any other Guarantor)
of the Guaranteed Obligations, including, without limitation, any such right of
contribution as contemplated by Section 7.2. 
Each Guarantor further agrees that, to the extent the waiver or
agreement to withhold the exercise of its rights of subrogation, reimbursement,
indemnification and contribution as set forth herein is found by a court of
competent jurisdiction to be void or voidable for any reason, any rights of
subrogation, reimbursement or indemnification such Guarantor may have against
any Borrower or against any collateral or security, and any rights of
contribution such Guarantor may have against any such other guarantor, shall be
junior and subordinate to any rights any Beneficiary may have against any
Borrower, to all right, title and interest any Beneficiary may have in any such
collateral or security, and to any right any Beneficiary may have against such
other guarantor.  If any amount shall be
paid to any Guarantor on account of any such subrogation, reimbursement,
indemnification or contribution rights at any time when all Guaranteed
Obligations (other than contingent indemnity obligations not then due and
payable) shall not have been finally and indefeasibly paid in full, such amount
shall be held in trust for Administrative Agent on behalf of Beneficiaries and
shall forthwith be paid over to Administrative Agent for the benefit of
Beneficiaries to be credited and applied against the Guaranteed Obligations,
whether matured or unmatured, in accordance with the terms hereof.

7.7.   Subordination of Other Obligations.  Any Indebtedness of any Borrower or any
Guarantor now or hereafter held by any Guarantor (the “Obligee Guarantor”) is hereby subordinated
in right of payment to the Guaranteed Obligations, and any such Indebtedness
collected or received by the Obligee Guarantor after an Event of Default has
occurred and is continuing shall be held in trust for Administrative Agent on
behalf of Beneficiaries and shall 

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forthwith be paid over to
Administrative Agent for the benefit of Beneficiaries to be credited and
applied against the Guaranteed Obligations but without affecting, impairing or
limiting in any manner the liability of the Obligee Guarantor under any other
provision hereof.

7.8.   Continuing Guaranty.  This Guaranty is a continuing guaranty and
shall remain in effect until all of the Guaranteed Obligations (other than
contingent indemnity obligations not then due and payable) shall have been paid
in full and the Revolving Commitments shall have terminated and all Letters of
Credit shall have expired or been cancelled. 
Each Guarantor hereby irrevocably waives, to the extent permitted by
applicable law, any right to revoke this Guaranty as to future transactions
giving rise to any Guaranteed Obligations.

7.9.   Authority of Guarantors or Borrowers.  It is not necessary for any Beneficiary to
inquire into the capacity or powers of any Guarantor or any Borrower or the officers,
directors or any agents acting or purporting to act on behalf of any of them.

7.10.   Financial Condition of Borrowers.  Any Credit Extension may be made to any
Borrower or continued from time to time, and any Hedge Agreements may be
entered into from time to time, in each case without notice to or authorization
from any Guarantor regardless of the financial or other condition of such
Borrower at the time of any such grant or continuation or at the time such
Hedge Agreement is entered into, as the case may be.  No Beneficiary shall have any obligation to
disclose or discuss with any Guarantor its assessment, or any Guarantor’s
assessment, of the financial condition of any Borrower.  Each Guarantor has adequate means to obtain
information from any Borrower on a continuing basis concerning the financial
condition of any Borrower and their ability to perform their obligations under
the Credit Documents and the Hedge Agreements, and each Guarantor assumes the
responsibility for being and keeping informed of the financial condition of any
Borrower and of all circumstances bearing upon the risk of nonpayment of the
Guaranteed Obligations.  Each Guarantor
hereby waives, to the extent permitted by applicable law, and relinquishes any
duty on the part of any Beneficiary to disclose any matter, fact or thing
relating to the business, operations or conditions of any Borrower now known or
hereafter known by any Beneficiary.

7.11.   Bankruptcy, etc.

(a)  So
long as any Guaranteed Obligations (other than contingent indemnity obligations
not then due and payable) remain outstanding, no Guarantor shall, without the
prior written consent of Administrative Agent acting pursuant to the
instructions of Requisite Lenders, commence or join with any other Person in
commencing any bankruptcy, reorganization or insolvency case or proceeding of
or against any Borrower or any other Guarantor. 
The obligations of Guarantors hereunder shall not be reduced, limited,
impaired, discharged, deferred, suspended or terminated by any case or
proceeding, voluntary or involuntary, involving the bankruptcy, insolvency,
receivership, reorganization, liquidation or arrangement of any Borrower or any
other Guarantor or by any defense which any Borrower or any other Guarantor may
have by reason of the order, decree or decision of any court or administrative
body resulting from any such proceeding.

(b)   Each Guarantor acknowledges and agrees that
any interest on any portion of the Guaranteed Obligations which accrues after
the commencement of any case or 

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proceeding referred to in clause (a) above
(or, if interest on any portion of the Guaranteed Obligations ceases to accrue
by operation of law by reason of the commencement of such case or proceeding,
such interest as would have accrued on such portion of the Guaranteed
Obligations if such case or proceeding had not been commenced) shall be
included in the Guaranteed Obligations because it is the intention of
Guarantors and Beneficiaries that the Guaranteed Obligations which are
guaranteed by Guarantors pursuant hereto should be determined without regard to
any rule of law or order which may relieve any Borrower of any portion of such
Guaranteed Obligations.  Guarantors will
permit any trustee in bankruptcy, receiver, debtor in possession, assignee for
the benefit of creditors or similar Person to pay Administrative Agent, or
allow the claim of Administrative Agent in respect of, any such interest
accruing after the date on which such case or proceeding is commenced.

(c)   In the event that all or any portion of the
Guaranteed Obligations are paid by any Borrower, the obligations of Guarantors
hereunder shall continue and remain in full force and effect or be reinstated,
as the case may be, in the event that all or any part of such payment(s) are
rescinded or recovered directly or indirectly from any Beneficiary as a
preference, fraudulent transfer or otherwise, and any such payments which are
so rescinded or recovered shall constitute Guaranteed Obligations for all
purposes hereunder.

7.12.   Discharge of Guaranty Upon Sale of Guarantor.  If all of the Capital Stock of any Guarantor
or any of its successors in interest hereunder shall be sold or otherwise
disposed of (including by merger or consolidation) in accordance with the terms
and conditions hereof, the Guaranty of such Guarantor or such successor in
interest, as the case may be, hereunder shall automatically be discharged and
released without any further action by any Beneficiary or any other Person
effective as of the time of such Asset Sale.

7.13.  
Foreign Guarantor Limitations.

(a)   Notwithstanding the foregoing provisions of
this Section 7 and unless otherwise agreed at the time such Foreign Subsidiary
becomes a Guarantor, no Foreign Subsidiary, other than any Foreign Subsidiary
of Holdings that is treated as a pass-through or disregarded entity for United
States federal income tax purposes and all of the Capital Stock of which is
directly owned by Holdings or one or more Domestic Subsidiaries of Holdings,
shall, or shall be deemed to, guarantee any Obligations or otherwise bind
itself (whether by indemnification or otherwise) of the U.S. Borrower or any
Domestic Guarantor nor shall it have any obligations under Section 7.2 with
respect to any such amounts.

(b)   Notwithstanding the foregoing provisions of
this Section 7, no Guarantor residing or incorporated in The Netherlands (the “Dutch Guarantors”) shall, or shall be
deemed to, guarantee any Obligations or otherwise bind itself (whether by
indemnification or otherwise) to the extent that if included, such act would
constitute unlawful financial assistance within the meaning of Article 98c or
207c of Book 2 of the Dutch Civil Code.

(c)   Notwithstanding the foregoing provisions of
this Section 7, no Guarantor incorporated in England or Wales shall, or shall
be deemed to, guarantee any Obligations to the extent that if included, the
Guaranty granted by it pursuant hereto would constitute 

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unlawful financial assistance for the purpose
of sections 151 to 158 (inclusive) of the United Kingdom Companies Act 1985 (as
amended or otherwise re-enacted from time to time).

(d)   Notwithstanding the foregoing provisions of
this Section 7, the Guarantee granted by any Guarantor incorporated in Germany
(the “German Guarantor”) shall be
subject to the following limitation:

(i)   To the extent a German Guarantor established
as a limited liability company (Gesellschaft mit
beschränkter Haftung - GmbH) is securing debt other than its own
debt or debt of its Subsidiaries, the Beneficiaries shall be required to repay
any amounts due and paid under the Guaranty granted pursuant hereto if and to
the extent such German Guarantor demonstrates that the payment of an amount due
under such Guaranty has the effect of reducing its net assets (Nettovermögen) to (i) an amount less than its stated share
capital (Stammkapital) or (ii) (if its net
assets are already an amount less than its stated share capital) causing such
amount to be further reduced, and thereby affecting its assets required for the
obligatory preservation of its share capital in accordance with sections 30 and
31 of the German Act for Limited Liability Companies (GmbH-Gesetz).

(ii)   If, at any time, a German Guarantor
demonstrates to the satisfaction of the Administrative Agent that payment in
full of an amount due from it under the Guaranty granted pursuant hereto would
lead to one of the effects referred to in paragraph (i) above, then the amount
due for payment at that time hereunder by that German Guarantor will be reduced
to the extent necessary to ensure it complies with its obligations to preserve
its stated share capital (Stammkapital).

(iii)   No reduction of the amount to be claimed or
repaid by any German Guarantor under the Guaranty granted pursuant hereto will
prejudice the rights of the Beneficiaries to claim again under such Guaranty in
respect of the repaid amount (subject always to the operation of the
limitations set forth above at the time of asserting any such claim).

(iv)   For the purposes of the calculation of the
amount to be repaid under paragraph (i) above or reducing the amount payable in
accordance with paragraph (ii) above the following balance sheet items shall be
adjusted as follows:

(1)                                  the amount of any
increase of the stated share capital (Stammkapital)
of any German Guarantor after the date of this Agreement effected without the
prior written consent of the Administrative Agent shall be deducted from its
stated share capital (Stammkapital);

(2)                                  loans and other
contractual liabilities incurred in violation of the provisions of the Collateral
Documents shall be disregarded; and

(3)                                  any asset that is
shown in the balance sheet with a book value (Buchwert)
that is significantly lower than the market value of such asset and that can be
realized, to the extent legally permitted, commercially justifiable and not
unreasonable with regard to costs and efforts involved if such asset is 

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not necessary for its business (betriebsnotwendig), shall be taken into account with its
market value.

(v)   In the case of a German Guarantor organised
in the form of a limited partnership in which the general partner is a GmbH (GmbH & Co. KG), the provisions set out above under
paragraph (i) to (iv) (inclusive) shall apply mutatis
mutandis to that German Guarantor’s general partner (Komplementär).

(vi)   Regardless of the provisions set out in
paragraphs (i) to (v) inclusive of this Section 7.13(d) the enforcement of the
Guaranty granted pursuant hereto shall be, at the date hereof and at any time
hereafter until the full and complete payment of any and all obligations
guaranteed by this Guaranty, limited insofar as any German Guarantor
demonstrates to the satisfaction of the Administrative Agent (acting
reasonably) that the enforcement of the Guaranty granted pursuant hereto
results in the violation of the prohibition of an intervention threatening the
existence (Existenzvernichtung) of any German
Guarantor and would result in a personal criminal or civil law liability of any
managing director of that German Guarantor  or of any affiliated company (other
than a Subsidiary) of that German Guarantor within the meaning of Sec. 15 et
seq. of the German Stock Corporation Act (Aktiengesetz)
or any of its managing directors.

(vii)   Notwithstanding the above provisions of this
Section 7.13(d), the provisions of paragraphs (i) to (v) (inclusive) of
this Section 7.13(d) shall not apply to the extent any amounts due and
payable under the Guaranty granted pursuant hereto would relate to funds which
have been made available under this Agreement and on lent or otherwise passed
on to a German Guarantor (or any of its Subsidiaries) to the extent that any
amounts so on lent or otherwise passed on are still outstanding at the time the
relevant demand is made against such German Guarantor under the Guaranty
granted pursuant hereto.

(e)   Notwithstanding the foregoing provisions of
this Section 7, the amount of the obligations of a Guarantor incorporated under
the laws of Switzerland (a “Swiss Guarantor”)
under this Section 7 shall be limited as follows:

(i)   If and to the extent a payment in fulfilling
the obligations pursuant to this Section 7 would, at the time payment is due,
under Swiss corporate law and practice (prohibiting capital repayments or
restricting profit distributions) not be permitted, then such obligations and
payment amount shall from time to time be limited to the amount permitted to be
paid, provided that such limited amount shall at no time be less than the
unrestricted equity capital surplus (including the unrestricted portion of
general (legal) reserves, restricted reserves which may be converted into free
reserves, other free reserves, retained earnings and current net profits)
available (as the case may be, after conversion/re-qualification) for
distribution to the member(s) of the Swiss Guarantor under Swiss corporate law
and practice at the time or times payment under or pursuant to this Section 7
is requested from the Swiss Guarantor (from time to time each a “Minimum Recovery Amount”), and further
provided that such limitation (as may apply from time to time or not) shall not
(generally or definitively) free the Swiss Guarantor from payment obligations
hereunder in excess thereof, but merely postpone the

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payment date
therefore until such times as payment is again permitted notwithstanding such
limitation.

(ii)   If and to the extent this is from time to
time required under Swiss corporate law (restricting profit distributions), in
order to allow the Administrative Agent (for the ratable benefit of the
Beneficiaries) to obtain a maximum benefit under and of this Section 7, each of
the Swiss Guarantors undertakes to promptly implement all such measures and/or
to promptly procure the fulfillment of all prerequisites in its power allowing
it to promptly make the (requested) payment(s) hereunder from time to time,
including the following:

(1) preparation of an up-to-date audited balance sheet of the respective
Swiss Guarantor;

(2) confirmation of the auditors of the Swiss Guarantor that the relevant
Minimum Recovery Amount represents (the maximum of) freely distributable
profits;

(3) all such other measures necessary or useful to allow the Swiss Guarantor
to make the payments agreed hereunder with a minimum of limitations, including
the conversion of unnecessary restricted reserves into distributable reserves;

(iii)   Subject to the extent required by applicable
law in force at the relevant time and any double taxation treaty, any Swiss
Guarantor which is required to make a payment under this Section 7 may:

(1) deduct Swiss withholding tax at the rate of 35 per cent., or such rate
as is in force from time to time, from any payment under this Section 7;

(2) pay any such deduction mentioned in paragraph (i) above, to the Swiss
Federal Tax Administration;

(3) shall
notify the Administrative Agent that such a deduction has been made and provide
the Administrative Agent with evidence that such deduction has been paid to the
Swiss Federal Tax Administration;

(4) shall
as soon as possible after such deduction (i) ensure that any person which is,
as a result of a payment under this Section 7 by such Swiss Guarantor, entitled
to a full or partial refund of the deducted tax, is in a position to apply for
such refund under any applicable law (including double tax treaties) and (ii)
in case such Swiss 

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Guarantor has received any refund
of the deducted tax, pay such refund to the Administrative Agent upon receipt
thereof;

(5) to the
extent such a deduction is made (in accordance with this Section), shall not be
obliged to indemnify (or otherwise hold harmless) the Beneficiaries in relation
to any such deduction and payment to the Swiss Federal Tax Administration.

SECTION
8.   EVENTS OF DEFAULT

8.1.   Events of Default.  If any one or more of the following
conditions or events shall occur:

(a)   Failure to Make Payments When Due.  Failure by any Borrower to pay (i) when
due any installment of principal of any Loan, whether at stated maturity, by
acceleration, by mandatory prepayment or otherwise; (ii) when due any
amount payable to Issuing Bank in reimbursement of any drawing under a Letter
of Credit; or (iii) any interest on any Loan or any fee or any other amount due
hereunder, unless such failure is caused by an administrative or technical
error and payment is made within five Business Days of its due date; or

(b)   Default in Other Agreements.  (i) Failure of any Credit Party or any of
their respective Subsidiaries to pay when due any principal of or interest on
or any other amount payable in respect of one or more items of Indebtedness
(other than Indebtedness referred to in Section 8.1(a)) with an aggregate
principal amount of $20,000,000 or more, in each case beyond the grace period,
if any, provided therefor; or (ii) breach or default by any Credit Party with
respect to any other material term of (1) one or more items of Indebtedness in
the individual or aggregate principal amounts referred to in clause (i) above
or (2) any loan agreement, mortgage, indenture or other agreement relating to
such item(s) of Indebtedness, in each case beyond the grace period, if any,
provided therefor, if the effect of such breach or default is to cause, or to
permit the holder or holders of that Indebtedness (or a trustee or agent on
behalf of such holder or holders), to cause, that Indebtedness to become or be
declared due and payable (or redeemable)  or to be placed on
demand, prior to its stated maturity or the stated maturity of any underlying
obligation, as the case may be; or

(c)   Breach of Certain Covenants.  Failure of any Credit Party to perform or
comply with any term or condition contained in Section 2.6, Section 5.1(a),
5.1(b), 5.1(c), 5.1(d), 5.1(f), 5.1(i), or 5.1(q), Section 5.2, Section 5.10(b)
or Section 6; provided
that any Event of Default under Section 6.8(b) shall not constitute an Event of
Default with respect to any Term Loan until the earlier of (x) the date that is
45 days after the date of delivery of a Compliance Certificate demonstrating
that Section 6.8(b) has not been met and (y) the date on which the Requisite
Revolving Lenders accelerate the Revolving Loans in accordance with this
Section 8.1 as a result of such breach of Section 6.8(b); and provided, further,
that any Event of Default under Section 6.8(b) and any definition, term or
provision used therein and relating thereto may be waived, amended or otherwise
modified from time to time by the Requisite Revolving Lenders pursuant to
Section 11.5(a); or

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(d)   Breach of Representations, etc.  Any representation, warranty, certification
or other statement, when taken as a whole, made or deemed made by any Credit
Party in any Credit Document shall be false in any material respect as of the
date made or deemed made; or

(e)   Other Defaults Under Credit Documents.  Any Credit Party shall default in the
performance of or compliance with any term contained herein or any of the other
Credit Documents, other than any such term referred to in any other Section of
this Section 8.1, and, if capable of remedy, such default shall not have been
remedied or waived within thirty days after the earlier of (i) an Authorized
Officer of such Credit Party becoming aware of such default or (ii) receipt by
a Borrower of notice from Administrative Agent or any Lender of such default;
or

(f)   Involuntary Bankruptcy; Appointment of
Receiver, etc.  (i) A court of
competent jurisdiction shall enter a decree or order for relief in respect of
Holdings or any of its Subsidiaries (other than Excluded Subsidiaries) in an
involuntary case under the Bankruptcy Code or under any other applicable
bankruptcy, winding up, dissolution, insolvency or similar law now or hereafter
in effect in any applicable jurisdiction, which decree or order is not stayed;
or any other similar relief shall be granted under any applicable federal,
foreign or state law; (ii) an involuntary case shall be commenced against
Holdings or any of its Subsidiaries (other than Excluded Subsidiaries) under
the Bankruptcy Code or under any other applicable bankruptcy, insolvency or
similar law now or hereafter in effect in any applicable jurisdiction; or a
decree or order of a court having jurisdiction in the premises for the
appointment of a receiver, liquidator, sequestrator, trustee, custodian,
administrator or other officer in any applicable jurisdiction having similar
powers over Holdings or any of its Subsidiaries (other than Excluded
Subsidiaries), or over all or a substantial part of its property, shall have
been entered; or there shall have occurred the involuntary appointment of an
interim receiver, administrator, liquidator, trustee or other custodian of
Holdings or any of its Subsidiaries (other than Excluded Subsidiaries) for all
or a substantial part of its property; or a warrant of attachment, execution or
similar process shall have been issued against any substantial part of the
property of Holdings or any of its Subsidiaries (other than Excluded
Subsidiaries), and in the case of the commencement of a voluntary case under
the Bankruptcy Code only, such case shall continue for sixty days without
having been dismissed, bonded or discharged; or (iii) any analogous step or
procedure is taken under the laws of any jurisdiction in respect of Holdings or
any of its Subsidiaries (other than Excluded Subsidiaries), but only to the
extent such step or procedure is reasonably likely to result in a Material
Adverse Effect; or

(g)   Voluntary Bankruptcy; Appointment of
Receiver, etc.  (i) Holdings or any
of its Subsidiaries (other than Excluded Subsidiaries) shall have an order for
relief entered with respect to it or shall commence a voluntary case under the
Bankruptcy Code or under any other applicable bankruptcy, insolvency, winding
up, dissolution or similar law now or hereafter in effect in any applicable
jurisdiction, or shall consent to the entry of an order for relief in an
involuntary case, or to the conversion of an involuntary case to a voluntary
case, under any such law, or shall consent to the appointment of or taking
possession by a receiver, administrator, liquidator, trustee or other custodian
for all or a substantial part of its property; or Holdings or any of its
Subsidiaries (other than Excluded 

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Subsidiaries) shall make any assignment for
the benefit of or a composition with creditors; (ii) Holdings or any of its
Subsidiaries (other than Excluded Subsidiaries) shall be unable or shall be
deemed for the purpose of applicable law to be unable, or shall fail generally,
or shall admit in writing its inability, to pay its debts as such debts become
due, or stops or threatens or announces an action to stop or suspend payment of
any of its debts or a moratorium shall be declared in respect of any of its
debts; or the board of directors (or similar governing body) of Holdings or any
of its Subsidiaries (other than Excluded Subsidiaries) (or any committee
thereof) shall convene a meeting or adopt any resolution or otherwise authorize
any action to approve any of the actions referred to herein or in Section
8.1(f); or (iii) any analogous step or procedure is taken under the laws of any
jurisdiction in respect of Holdings or any of its Subsidiaries (other than
Excluded Subsidiaries), but only to the extent such step or procedure is
reasonably likely to result in a Material Adverse Effect; or

(h)   Judgments and Attachments.  Any money judgment, writ or warrant of
attachment or similar process involving in the aggregate at any time an amount
in excess of $20,000,000 (in either case to the extent not adequately covered
by insurance as to which a solvent and unaffiliated insurance company has acknowledged
coverage) shall be entered or filed against Holdings or any of its Subsidiaries
or any of their respective assets and shall remain undischarged, unvacated,
unbonded or unstayed for a period of sixty days (or in any event later than
five days prior to the date of any proposed sale thereunder); or

(i)   Dissolution.  Any order, judgment or decree shall be
entered against any Credit Party decreeing the dissolution or split up of such
Credit Party and such order shall remain undischarged or unstayed for a period
in excess of thirty days or any analogous step or procedure is taken under the
laws of any jurisdiction; or

(j)   Employee Benefit Plans.  (i) There shall occur one or more ERISA
Events or similar events in respect of any Foreign Plans (or a resolution is
passed on proceedings commenced to terminate any Foreign Plan) which results in
or might reasonably be expected to result in liability of Holdings, any of its
Subsidiaries or any of their respective ERISA Affiliates in excess of
$20,000,000 during the term hereof; or (ii) there exists any fact or
circumstance that reasonably could be expected to result in the imposition of a
Lien or security interest under Section 412(n) of the Internal Revenue Code or
under ERISA or similar law with respect to any Foreign Plan.

(k)   Change of Control.  A Change of Control shall occur; or

(l)   Guaranties, Collateral Documents and
other Credit Documents.  At any time
after the execution and delivery thereof, (i) any portion of the Guaranty of
any Subsidiary for any reason, other than the satisfaction in full of all
Obligations (other than contingent indemnity obligations not then due and
payable), shall cease to be in full force and effect (other than in accordance
with its terms) or shall be declared to be null and void or any Guarantor shall
repudiate its obligations thereunder, (ii) any portion of this Agreement or any
material Collateral Document ceases to be in full force and effect (other than
by reason of a release of Collateral in accordance with the terms hereof or
thereof or the satisfaction in full of the Obligations in accordance with the
terms hereof) or shall be declared null and void, or 

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it becomes unlawful for any Credit Party to
perform any of the Obligations or Collateral Agent shall not have or shall
cease to have a valid and perfected Lien in any material portion of the
Collateral purported to be covered by the Collateral Documents with the
priority required by the relevant Collateral Document, in each case for any
reason other than the failure of Collateral Agent or any Secured Party to take
any action within its control, or (iii) any Credit Party shall contest the
validity or enforceability of any Credit Document in writing or repudiate or
rescind (or purport to repudiate or rescind) or deny in writing that it has any
further liability, including with respect to future advances by Lenders, under
any provision of any Credit Document to which it is a party or shall contest
the validity or perfection of any Lien in any Collateral purported to be covered
by the Collateral Documents;

THEN, (1) solely with respect to the Obligations of the
U.S. Borrower and each Domestic Guarantor, upon the occurrence of any Event of
Default described in Section 8.1(f) or 8.1(g), automatically, and (2) upon the
occurrence of any other Event of Default, at the request of (or with the
consent of) Requisite Lenders, upon notice to Borrowers by Administrative
Agent, (A) the Revolving Commitments, if any, of each Lender having such
Revolving Commitments and the obligation of Issuing Bank to issue any Letter of
Credit shall immediately terminate; (B) each of the following shall (i) be
payable on demand by the Administrative Agent (and if any denial is
subsequently made these amounts, together with accrued interest and all other amounts
accrued under this Agreement, shall be immediately due and payable, in each
case without presentment, demand, protest or other requirements of any kind,
all of which are expressly viewed by each Credit Party) or (ii) immediately
become due and payable, in each case without presentment, demand, protest or
other requirements of any kind, all of which are hereby expressly waived by
each Credit Party:  (I) all or any part
of (as specified by the Administrative Agent) the unpaid principal amount of
and accrued interest on the Loans, (II) an amount equal to all or any part of
(as specified by the Administrative Agent) the maximum amount that may at any
time be drawn under all Letters of Credit then outstanding (regardless of
whether any beneficiary under any such Letter of Credit shall have presented,
or shall be entitled at such time to present, the drafts or other documents or
certificates required to draw under such Letters of Credit), and (III) all or
any part of (as specified by the Administrative Agent) other Obligations; provided,
the foregoing shall not affect in any way the obligations of Lenders under
Section 2.3(b)(v) or Section 2.4(e); (C) Administrative Agent may cause
Collateral Agent, to enforce any and all Liens and security interests created pursuant
to Collateral Documents; and (D) Administrative Agent shall direct Borrowers to
pay (and each Borrower hereby agrees upon receipt of such notice, or, solely
with respect to U.S. Borrower, upon the occurrence of any Event of Default
specified in Sections 8.1(f) and (g) to pay) to Administrative Agent such
additional amounts of cash as reasonable requested by Issuing Bank, to be held
as security for Borrowers’ reimbursement Obligations in respect of Letters of
Credit then outstanding; and/or (E) Administrative Agent shall
exercise, or direct the Collateral Agent to exercise, all or any of its or as
the case may be, the Collateral Agent’s rights, remedies, powers or discretions
under any of the Credit Documents.  Notwithstanding anything to the contrary
set forth herein, upon the occurrence and during the continuance of an Event of
Default under Section 8.1(c) as a result of a breach of Section 6.8(b), the
Administrative Agent may with the consent of the Requisite Revolving Lenders
(and, at the request of the Requisite Revolving Lenders, shall) take any of the
actions described above solely as they relate to the Revolving Loans.

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SECTION
9.   AGENTS

9.1.   Appointment of Agents.  (a) GSCP is hereby appointed Syndication
Agent hereunder, and each Lender hereby authorizes GSCP to act as Syndication
Agent in accordance with the terms hereof and the other Credit Documents.  GSCP is hereby appointed Administrative Agent
and Collateral Agent hereunder and under the other Credit Documents and each
Lender hereby authorizes GSCP to act as Administrative Agent and Collateral
Agent in accordance with the terms hereof and the other Credit Documents.  CUSA is hereby appointed Documentation Agent
hereunder, and each Lender hereby authorizes CUSA to act as Documentation Agent
in accordance with the terms hereof and the other Credit Documents.  Each Agent hereby agrees to act in its
capacity as such upon the express conditions contained herein and the other
Credit Documents, as applicable.  The
provisions of this Section 9 are solely for the benefit of Agents and Lenders
and no Credit Party shall have any rights as a third party beneficiary of any
of the provisions thereof.  In performing
its functions and duties hereunder, each Agent shall act solely as an agent of
Lenders and does not assume and shall not be deemed to have assumed any
obligation towards or relationship of agency or trust with or for Holdings or
any of its Subsidiaries.  Each of
Syndication Agent and Documentation Agent, without consent of or notice to any party
hereto, may assign any and all of its rights or obligations hereunder to any of
its Affiliates (other than Private Equity Affiliates (as defined in the
Commitment Letter)).  As of the Effective
Date, neither GSCP, in its capacity as Syndication Agent, nor CUSA , in its
capacity as Documentation Agent, shall have any obligations but shall be
entitled to all benefits of this Section 9.

(b) For the
purposes of the security provided by any Credit Party under the laws of the
Province of Québec, GSCP acting as Collateral Agent (and any successor thereto
in such capacity) is hereby appointed by the Beneficiaries as the person
holding the power of attorney (“fondé de pouvoir”)
within the meaning of Article 2692 of the Civil Code of Québec
for the purposes of the hypothecary security under each deed of hypothec
granted by any such Credit Party under the laws of the Province of Québec and,
in such capacity, GSCP acting as Collateral Agent shall hold such hypothecary
security as fondé de pouvoir in the exercise of the
rights conferred thereunder for the benefit of the Beneficiaries.  The Beneficiaries hereby agree that GSCP
acting as Collateral Agent may act as the debentureholder, agent and mandatary
with respect to any debenture that may be issued by any Credit Party and
pledged in favour of GSCP acting as Collateral Agent.  The designation of GSCP acting as Collateral
Agent as fondé de pouvoir under any deed of
hypothec executed prior to the date hereof, and the execution and delivery of
any such deed, is hereby ratified and confirmed.  Notwithstanding the provisions of Section 32
of the Act respecting the Special Powers of Legal Persons
(Québec), GSCP acting as Collateral Agent may be the holder of the debentures
secured by any such hypothec.  It is
hereby acknowledged that said debentures constitute a title of indebtedness as
such term is used in Article 2692 of the Civil Code of Quebec.  Each future Beneficiary that becomes party to
this Agreement, by becoming a party to this Agreement, shall be deemed to have
ratified and confirmed the appointment of GSCP acting as Collateral Agent (and
any successor thereto) as fondé de pouvoir and
GSCP acting as Collateral Agent as the holder of any debenture, both for the
benefit of the Beneficiaries.  Any
Affiliate of a Lender shall be deemed to have nominated GSCP acting as
Collateral Agent as fondé de pouvoir and
GSCP acting as Collateral Agent as debentureholder by its creation of a Hedge
Agreement.  Notwithstanding anything to
the 

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contrary, this provision shall be governed and construed under the laws
of the Province of Québec.

9.2.   Powers and Duties.  Each Lender irrevocably authorizes each Agent
(i) to take such action on such Lender’s behalf and to exercise such powers,
rights and remedies hereunder and under the other Credit Documents as are
specifically delegated or granted to such Agent by the terms hereof and
thereof, together with such powers, rights and remedies as are reasonably
incidental thereto and (ii) to enter into any and all of the Collateral Documents together
with such other documents as shall be necessary to give effect to the
Collateral contemplated by the Collateral Documents, on its behalf.  Each Agent shall have only those duties and
responsibilities that are expressly specified herein and the other Credit
Documents.  Each Agent may exercise such
powers, rights and remedies and perform such duties by or through its agents or
employees.  No Agent shall have, by
reason hereof or any of the other Credit Documents, a fiduciary relationship in
respect of any Lender; and nothing herein or any of the other Credit Documents,
expressed or implied, is intended to or shall be so construed as to impose upon
any Agent any obligations in respect hereof or any of the other Credit
Documents except as expressly set forth herein or therein.

9.3.  
General Immunity.

(a)   No Responsibility for Certain Matters.  No Agent shall be responsible to any Lender
for the execution, effectiveness, genuineness, validity, enforceability,
collectibility or sufficiency hereof or any other Credit Document or for any
representations, warranties, recitals or statements made herein or therein or
made in any written or oral statements or in any financial or other statements,
instruments, reports or certificates or any other documents furnished or made
by any Agent to Lenders or by or on behalf of any Credit Party, and Lender in
connection with the Credit Documents and the transactions contemplated thereby
or for the financial condition or business affairs of any Credit Party or any
other Person liable for the payment of any Obligations, nor shall any Agent be
required to ascertain or inquire as to the performance or observance of any of
the terms, conditions, provisions, covenants or agreements contained in any of
the Credit Documents or as to the use of the proceeds of the Loans or as to the
existence or possible existence of any Event of Default or Default or to make
any disclosures with respect to the foregoing. 
Anything contained herein to the contrary notwithstanding,
Administrative Agent shall not have any liability arising from confirmations of
the amount of outstanding Loans or the Letter of Credit Usage or the component
amounts thereof.

(b)   Exculpatory Provisions.  No Agent nor any of its officers, partners,
directors, employees or agents shall be liable to Lenders for any action taken
or omitted by any Agent under or in connection with any of the Credit Documents
except to the extent caused by such Agent’s gross negligence or willful
misconduct.  Each Agent shall be entitled
to refrain from any act or the taking of any action (including the failure to
take an action) in connection herewith or any of the other Credit Documents or
from the exercise of any power, discretion or authority vested in it hereunder
or thereunder unless and until such Agent shall have received instructions in
respect thereof from Requisite Lenders (or such other Lenders as may be
required to give such instructions under Section 11.5) or, in the case of the
Collateral Agent, in accordance with the applicable Collateral Documents, and,
upon receipt 

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of such instructions from Requisite Lenders
(or such other Lenders, as the case may be) or, in the case of the Collateral
Agent, in accordance with the applicable Collateral Documents, such Agent shall
be entitled to act or (where so instructed) refrain from acting, or to exercise
such power, discretion or authority, in accordance with such instructions.  Without prejudice to the generality of the
foregoing, (i) each Agent shall be entitled to rely, and shall be fully
protected in relying, upon any communication, instrument or document believed
by it to be genuine and correct and to have been signed or sent by the proper
Person or Persons, and shall be entitled to rely and shall be protected in
relying on opinions and judgments of attorneys (who may be attorneys for
Holdings and its Subsidiaries), accountants, experts and other professional
advisors selected by it; and (ii) no Lender shall have any right of action
whatsoever against any Agent as a result of such Agent acting or (where so
instructed) refraining from acting hereunder or any of the other Credit
Documents in accordance with the instructions of Requisite Lenders (or such
other Lenders as may be required to give such instructions under Section 11.5)
or, in the case of the Collateral Agent, in accordance with the applicable
Collateral Documents.

(c)   Delegation of Duties.
Administrative Agent may perform any and all of its duties and exercise its
rights and powers under this Agreement or under any other Credit
Document by or through any one or more sub-agents appointed by Administrative
Agent. 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
Affiliates (other than Private Equity Affiliates (as defined in the Commitment
Letter)). The exculpatory, indemnification and other provisions of this Section
9.3 and of Section 9.6 shall apply to any the Affiliates of Administrative
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.  All of the
rights, benefits, and privileges (including the exculpatory and indemnification
provisions) of this Section 9.3 and of Section 9.6 shall apply to any such
sub-agent and to the Affiliates of any such sub-agent, and shall apply to their
respective activities as sub-agent as if such sub-agent and Affiliates were
named herein.  Notwithstanding anything
herein to the contrary, with respect to each sub-agent appointed by the
Administrative Agent, (i) such sub-agent shall be a third party beneficiary
under this Agreement with respect to all such rights, benefits and privileges
(including exculpatory rights and rights to indemnification) and shall have all
of the rights and benefits of a third party beneficiary, including an
independent right of action to enforce such rights, benefits and privileges
(including exculpatory rights and rights to indemnification) directly, without
the consent or joinder of any other Person, against any or all of the Credit
Parties and the Lenders, (ii) such rights, benefits and privileges (including
exculpatory rights and rights to indemnification) shall not be modified or
amended without the consent of such sub-agent, and (iii) such sub-agent shall
only have obligations to Administrative Agent and not to any Credit Party,
Lender or any other Person and no Credit Party, Lender or any other Person
shall have any rights, directly or indirectly, as a third party beneficiary or
otherwise, against such sub-agent.

9.4.   Agents Entitled to Act as Lender.  The agency hereby created shall in no way
impair or affect any of the rights and powers of, or impose any duties or
obligations upon, any Agent in its individual capacity as a Lender
hereunder.  With respect to its
participation in the Loans and the Letters of Credit, each Agent shall have the
same rights and powers hereunder as 

 129
 

any other Lender and may
exercise the same as if it were not performing the duties and functions
delegated to it hereunder, and the term “Lender” shall, unless the context
clearly otherwise indicates, include each Agent in its individual
capacity.  Any Agent and its Affiliates
may accept deposits from, lend money to, own securities of, and generally
engage in any kind of banking, trust, financial advisory or other business with
Holdings or any of its Affiliates as if it were not performing the duties
specified herein, and may accept fees and other consideration from Borrowers for
services in connection herewith and otherwise without having to account for the
same to Lenders.

9.5.  
Lenders’ Representations, Warranties and Acknowledgment.

(a)   Each Lender represents and warrants that it
has made its own independent investigation of the financial condition and
affairs of Holdings and its Subsidiaries in connection with Credit Extensions
hereunder and that it has made and shall continue to make its own appraisal of
the creditworthiness of Holdings and its Subsidiaries.  No Agent shall have any duty or
responsibility, either initially or on a continuing basis, to make any such
investigation or any such appraisal on behalf of Lenders or to provide any
Lender with any credit or other information with respect thereto, whether
coming into its possession before the making of the Loans or at any time or
times thereafter, and no Agent shall have any responsibility with respect to
the accuracy of or the completeness of any information provided to Lenders.

(b)   Each Lender, by delivering its signature
page to this Agreement or an Assignment Agreement and funding its applicable
Loan on the Closing Date, shall be deemed to have acknowledged receipt of, and
consented to and approved, each Credit Document and each other document
required to be approved by any Agent, Requisite Lenders or Lenders, as
applicable on the Closing Date.

9.6.   Right to Indemnity.  Each Lender, in proportion to its Pro Rata
Share, severally agrees to indemnify each Agent, to the extent that such Agent
shall not have been reimbursed by any Credit Party, for and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses (including counsel fees and disbursements) or
disbursements of any kind or nature whatsoever which may be imposed on,
incurred by or asserted against such Agent in exercising its powers, rights and
remedies or performing its duties hereunder or under the other Credit Documents
or otherwise in its capacity as such Agent in any way relating to or arising out
of this Agreement or the other Credit Documents; provided, no Lender
shall be liable for any portion of such liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, costs, expenses or disbursements
resulting from such Agent’s gross negligence or willful misconduct.  If any indemnity furnished to any Agent for
any purpose shall, in the opinion of such Agent, be insufficient or become
impaired, such Agent may call for additional indemnity and cease, or not
commence, to do the acts indemnified against until such additional indemnity is
furnished; provided, in no event shall this sentence require any Lender
to indemnify any Agent against any liability, obligation, loss, damage,
penalty, action, judgment, suit, cost, expense or disbursement in excess of
such Lender’s Pro Rata Share thereof; and provided  further, this
sentence shall not be deemed to require any Lender to indemnify any Agent
against any liability, obligation, loss, damage, penalty, action, judgment,
suit, cost, expense or disbursement described in the proviso in the immediately
preceding sentence.

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9.7.   Successor Administrative Agent, Collateral
Agent, Issuing Bank and Swing Line Lender.  Administrative Agent may resign at any time
by giving thirty days’ prior written notice thereof to Lenders and Borrowers,
and Administrative Agent may be removed at any time with or without cause by an
instrument or concurrent instruments in writing delivered to Borrowers and
Administrative Agent and signed by Requisite Lenders.  Upon any such notice of resignation or any
such removal, Requisite Lenders shall have the right, with the consent of the
Borrowers (such consent to not be unreasonably withheld or delayed), to appoint
a successor Administrative Agent.  Upon
the acceptance of any appointment as Administrative Agent hereunder by a
successor Administrative Agent, that successor Administrative Agent shall
thereupon succeed to and become vested with all the rights, powers, privileges
and duties of the retiring or removed Administrative Agent and the retiring or
removed Administrative Agent shall promptly (i) transfer to such successor
Administrative Agent all sums, Securities and other items of Collateral held
under the Collateral Documents, together with all records and other documents
necessary or appropriate in connection with the performance of the duties of
the successor Administrative Agent under the Credit Documents, and (ii) execute
and deliver to such successor Administrative Agent such amendments to financing
statements, and take such other actions, as may be necessary or appropriate in
connection with the assignment to such successor Administrative Agent of the
security interests created under the Collateral Documents, whereupon such
retiring or removed Administrative Agent shall be discharged from its duties
and obligations hereunder.  After any
retiring or removed Administrative Agent’s resignation or removal hereunder as
Administrative Agent, the provisions of this Section 9 shall inure to its
benefit as to any actions taken or omitted to be taken by it while it was
Administrative Agent hereunder.  Any
resignation or removal of GSCP as Administrative Agent pursuant to this Section
shall also constitute the resignation or removal of GSCP or its successor as
Collateral Agent, and any successor Administrative Agent appointed pursuant to
this Section shall, upon its acceptance of such appointment, become the
successor Collateral Agent for all purposes hereunder.  Issuing Bank may resign at any time by giving
thirty days’ prior written notice thereof to Lenders and Borrowers.  Upon any such notice of resignation or any
such removal, the Borrowers shall have the right, with the consent of the
Administrative Agent (such consent to not be unreasonably withheld or delayed),
to appoint a successor Issuing Bank. 
Swing Line Lender may resign at any time by giving thirty days’ prior
written notice thereof to Lenders and Borrowers.  Upon any such notice of resignation or any
such removal, the Borrowers shall have the right, with the consent of the
Administrative Agent (such consent to not be unreasonably withheld or delayed),
to appoint a successor Swing Line Lender. 
In such event (a) U.S. Borrower shall prepay any outstanding Swing Line
Loans made by the retiring Swing Line Lender, (b) upon such prepayment, the
retiring Swing Line Lender shall surrender any Swing Line Note held by it to
U.S. Borrower for cancellation, and (c) U.S. Borrower shall issue, if so
requested by successor Swing Line Lender, a new Swing Line Note to the
successor Swing Line Lender, in the principal amount of the Swing Line Loan
Sublimit then in effect and with other appropriate insertions.

9.8.  
Collateral Documents and Guaranty.

(a)   Agents under Collateral Documents and
Guaranty.  Each Secured Party hereby
further authorizes Administrative Agent, Collateral Agent, on behalf of and for
the benefit of the Secured Parties, to be the agent for and representative of
Secured Parties with respect to the Guaranty, the Collateral and the Collateral
Documents and each Secured Party 

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agrees to be bound by the terms of the
Collateral Documents; provided that neither Administrative Agent nor
Collateral Agent shall owe any fiduciary duty, duty of loyalty, duty of care,
duty of disclosure or any other obligation whatsoever to any holder of
Obligations with respect to any Hedge Agreement.  Subject to Section 11.5, without further
written consent or authorization from any Secured Party, Administrative Agent
or Collateral Agent may execute any documents or instruments necessary to (i)
in connection with a sale or disposition of assets or the granting of Liens
permitted by this Agreement, release any Lien encumbering any item of
Collateral that is the subject of such sale or other disposition of assets or
to which Requisite Lenders (or such other Lenders as may be required to give
such consent under Section 11.5) have otherwise consented or (ii) release
any Guarantor from the Guaranty pursuant to Section 7.12 or with respect to
which Requisite Lenders (or such other Lenders as may be required to give such
consent under Section 11.5) have otherwise consented.

(b)   Right to Realize on Collateral and
Enforce Guaranty.  Anything contained
in any of the Credit Documents to the contrary notwithstanding, Borrowers,
Administrative Agent, Collateral Agent and each Secured Party hereby agree that
(i) no Secured Party shall have any right individually to realize upon any
of the Collateral or to enforce the Guaranty, it being understood and agreed
that all powers, rights and remedies hereunder may be exercised solely by
Administrative Agent, on behalf of the Secured Parties in accordance with the
terms hereof and all powers, rights and remedies under the Collateral Documents
may be exercised solely by Collateral Agent, and (ii) in the event of a foreclosure
by Collateral Agent, on any of the Collateral pursuant to a public or private
sale or other disposition, Collateral Agent or any Secured Party may be the
purchaser or licensor of any or all of such Collateral at any such sale or
disposition and Collateral Agent, as agent for and representative of Secured
Parties (but not any Lender or Lenders in its or their respective individual
capacities unless Requisite Lenders shall otherwise agree in writing) shall be
entitled, for the purpose of bidding and making settlement or payment of the
purchase price for all or any portion of the Collateral sold at any such public
sale, to use and apply any of the Obligations as a credit on account of the
purchase price for any collateral payable by Collateral Agent, at such sale or
other disposition.

(c)   Rights under Hedge Agreements. No
Hedge Agreement will create (or be deemed to create) in favor of any Lender
Counterparty that is a party thereto any rights in connection with the
management or release of any Collateral or of the obligations of any Guarantor
under the Credit Documents except as expressly provided in Section 11.5(c)(v)
of this Agreement and Section 7.2 of the Pledge and Security Agreement.

(d)   Acknowledgment of Dutch Collateral
Documents.  Each
of the parties hereto agrees to and acknowledges the provisions set forth in
clause 2 or clause 3 (as applicable) (Covenant to Pay) of the Dutch Collateral
Documents.

9.9.   Collateral Agent.  Without prejudice to the foregoing, each of
the Lenders hereby acknowledges that the Collateral Agent holds the Collateral
of the Foreign Guarantors as trustee for and on behalf of the Secured Parties
in accordance with the terms of the declaration of trust set out in each U.K.
Security Agreement and that the terms of its appointment, and such trust, shall
be as set out (or referred to) in each such U.K. Security Agreement.

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9.10.   Withholding Tax.  To the extent required by any applicable law,
the Administrative Agent may withhold from any interest payment to any Lender
an amount equivalent to any applicable withholding tax.  If the Internal Revenue Service or any other
Governmental Authority asserts a claim that the Administrative Agent did not
properly withhold tax from amounts paid to or for the account of any Lender
because the appropriate form was not delivered or was not properly executed or
because such Lender failed to notify the Administrative Agent of a change in
circumstance that rendered the exemption from, or reduction of, withholding tax
ineffective or for any other reason, such Lender shall indemnify the
Administrative Agent fully for all amounts paid, directly or indirectly, by the
Administrative Agent as tax or otherwise, including any penalties or interest
and together with all expenses (including legal expenses, allocated internal
costs and out-of-pocket expenses) incurred.

SECTION
10.   DEBT ALLOCATION MECHANISM

10.1.   Implementation of DAM.

(a)   On the DAM Exchange Date, (i) the
Commitments shall automatically and without further act be terminated as
provided in Section 8 of this Agreement, (ii) the Lenders shall
automatically and without further action (and without regard to the provisions
of Section 11.6 of this Agreement) be deemed to have exchanged interests in the
Loans such that in lieu of the interest of each Lender in each Loan in which it
shall participate as of such date (including such Lender’s interest in the
Obligations of each Credit Party in respect of each such Loan), such Lender
shall hold an interest in every one of the Loans including the Obligations of
each Credit Party in respect of each such Loan, whether or not such Lender
shall previously have participated therein, equal to such Lender’s DAM
Percentage thereof and (iii) simultaneously with the deemed exchange of
interests pursuant to clause (ii) above, in the case of any DAM Dollar Lender
that has prior to the date thereof notified the Administrative Agent and the
U.S. Borrower in writing that it has elected to have this clause (iii) apply to
it, the interests in the Loans to be received by such DAM Dollar Lender in such
deemed exchange shall, automatically and with no further action required, be
converted into the Dollars, determined using the Spot Exchange Rate calculated
as of such date, of such amount and on and after such date all amounts accruing
and owed to such DAM Dollar Lender in respect of such Obligations shall accrue
and be payable in Dollars at the rate otherwise applicable hereunder, provided
that such DAM Exchange will not affect the aggregate amount of the Obligations
of the Borrowers to the Lenders under the Credit Documents.  Each Lender hereby consents and agrees to the
DAM Exchange and agrees that the DAM Exchange shall be binding upon its
successors and assigns and any person that acquires a participation in its
interests in any Loan.  Each Lender
agrees to surrender any promissory notes originally received by it in connection
with its Loans to Administrative Agent against delivery of new promissory notes
evidencing its interests in the Loans after giving effect to the DAM Exchange.

(b)   As a result of the DAM Exchange, upon and
after the DAM Exchange Date, each payment received by the Administrative Agent
pursuant to any Credit Document in respect of the Obligations, and each
distribution made by the Administrative Agent pursuant to any Credit Document
in respect of the Obligations, shall be distributed to the 

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Lenders pro rata in accordance with their
respective DAM Percentages.  Any direct
payment received by a Lender upon or after the DAM Exchange Date, including by
way of setoff, in respect of an Obligation shall be paid over to the
Administrative Agent for distribution to the Lenders in accordance herewith.

10.2.  
Letters of Credit.

(a)   In the event that on the DAM Exchange Date
any Letter of Credit shall be outstanding and undrawn in whole or in part, or
any amount drawn under a Letter of Credit shall not have been reimbursed to the
Issuing Bank (“Unpaid Drawings”),
each Revolving Lender in respect of Unpaid Drawings on Letters of Credit shall,
before giving effect to the DAM Exchange, promptly pay over to the
Administrative Agent, in immediately available funds and in the currency that
such Letters of Credit are denominated, an amount equal to such Lender’s Pro
Rata Share of the Revolving Commitment (as notified to such Lender by the
Administrative Agent), of such Letter of Credit’s undrawn face amount or (to the
extent it has not already done so) such Letter of Credit’s Unpaid Drawing, as
the case may be, together with interest thereon from the DAM Exchange Date to
the date on which such amount shall be paid to the Administrative Agent at the
rate that would be applicable at the time to a Revolving Loan that is a Base
Rate Loan in a principal amount equal to such amount, as the case may be.  The Administrative Agent shall establish a
separate account or accounts for each Lender (each, an “L/C Reserve Account”) for the amounts
received with respect to each such Letter of Credit pursuant to the preceding
sentence.  The Administrative Agent shall
deposit in each Lender’s L/C Reserve Account such Lender’s DAM Percentage of
the amounts received from the Lenders as provided above.  The Administrative Agent shall have sole
dominion and control over each L/C Reserve Account, and the amounts deposited
in each L/C Reserve Account shall be held in such L/C Reserve Account until
withdrawn as provided in paragraph (b), (c), (d) or (e) below.  The Administrative Agent shall maintain
records enabling it to determine the amounts paid over to it and deposited in
the L/C Reserve Accounts in respect of each Letter of Credit and the amounts on
deposit in respect of each Letter of Credit attributable to each Lender’s DAM
Percentage.  The amounts held in each
Lender’s L/C Reserve Account shall be held as a reserve against the Letter of
Credit Exposure, shall be the property of such Lender, shall not constitute
Loans to or give rise to any claim of or against any Credit Party and shall not
give rise to any obligation on the part of the Borrowers to pay interest to
such Lender, it being agreed that the reimbursement obligations in respect of
Letters of Credit shall arise only at such times as drawings are made
thereunder, as provided in Section 2.

(b)   In the event that after the DAM Exchange
Date any drawing shall be made in respect of a Letter of Credit, the
Administrative Agent shall, at the request of the Issuing Bank withdraw from
the L/C Reserve Account of each Lender any amounts, up to the amount of such
Lender’s DAM Percentage of such drawing, deposited in respect of such Letter of
Credit and remaining on deposit and deliver such amounts to such Issuing Bank
in satisfaction of the reimbursement obligations of the Lenders under Section 2
(but not of the Borrowers).  In the event
any Lender shall default on its obligation to pay over any amount to the
Administrative Agent in respect of any Letter of Credit as provided in this
Section 10.2, such Issuing Bank shall, in the event of a drawing thereunder,
have a claim against such Lender to the same extent as if such Lender had
defaulted on its obligations under Section 

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2.23, but shall have no claim against any
other Lender in respect of such defaulted amount, notwithstanding the exchange
of interests in the reimbursement obligations pursuant to Section 10.1.  Each other Lender shall have a claim against
such defaulting Lender for any damages sustained by it as a result of such
default, including, in the event such Letter of Credit shall expire undrawn,
its DAM Percentage of the defaulted amount.

(c)   In the event that after the DAM Exchange
Date any Letter of Credit shall expire undrawn, the Administrative Agent shall
withdraw from the L/C Reserve Account of each Lender the amount remaining on
deposit therein in respect of such Letter of Credit and distribute such amount
to such Lender.

(d)   With the prior written approval of the
Administrative Agent and the Issuing Bank, any Lender may withdraw the amount
held in its L/C Reserve Account in respect of the undrawn amount of any Letter
of Credit.  Any Lender making such a
withdrawal shall be unconditionally obligated, in the event there shall
subsequently be a drawing under such Letter of Credit, to pay over to the
Administrative Agent, for the account of such Issuing Bank on demand, its DAM
Percentage of such drawing.

(e)   Pending the withdrawal by any Lender of any
amounts from its L/C Reserve Account as contemplated by the above paragraphs,
the Administrative Agent will, at the direction of such Lender and subject to
such rules as the Administrative Agent may prescribe for the avoidance of
inconvenience, invest such amounts in Cash Equivalents (other than Cash
Equivalents referred to in the proviso of the definition thereof).  Each Lender that has not withdrawn the
amounts in its L/C Reserve Account as provided in paragraph (d) above shall
have the right, at intervals reasonably specified by the Administrative Agent,
to withdraw the earnings on investments so made by the Administrative Agent
with amounts in its L/C Reserve Account and to retain such earnings for its own
account.

10.3.   Net Payments Upon Implementation of DAM
Exchange. 
Notwithstanding any other provision of this Agreement, if, as a direct
result of the implementation of the DAM Exchange, the Borrowers are required by
law to make any deduction or withholding on account of any Tax (other than a
Tax on the overall net income) from amounts payable to the Agents, any Lender
or any Participant hereunder, (i) the amounts so payable to the Agents, such
Lender or such Participant shall be increased to the extent necessary to yield
to the Agents, such Lender or such Participant (after payment of all such
Taxes) interest or any such other amounts payable hereunder at the rates or in
the amounts specified in this Agreement and (ii) within thirty days after
paying any sum from which it is required by law to make any deduction or
withholding, and within thirty days after the due date of payment of any Tax
that it is required to pay with respect to such deduction or withholding, the
applicable Borrower shall deliver to the Administrative Agent evidence
satisfactory to the other affected parties of such deduction, withholding or
payment and of the remittance thereof to the relevant taxing or other
authority; provided, however, that the Borrowers shall not be
required to increase any such amounts payable to such Lender or Participant
under this Section 10.3 (but, rather, shall be required to increase any such
amounts payable to such Lender or Participant to the extent required by Section
2.20) if such Lender or Participant was prior to or on the DAM Exchange Date
already a Lender or Participant with respect to such Borrower.  If a Non-US Lender (or Non-US Participant),
in its good faith judgment, is eligible for an exemption from, or reduced rate
of, U.S. Federal withholding tax on 

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payments by the U.S.
Borrower under this Agreement such Non-US Lender (or Non-US Participant) shall
comply with the requirements of paragraph (d) of Section 2.20, as soon as
practicable.  The U.S. Borrower shall not
be required to increase any such amounts payable to such Non-US Lender (or
Non-US Participant) to the extent of any U.S. withholding tax resulting from
the failure by such Non-US Lender (or Non-US Participant) to comply with the
requirements of paragraph (d) of Section 2.20 when such Non-US Lender (or
Non-US Participant) was able to do so. 
If the U.S. Borrower or the Euro Borrowers, as the case may be, fails to
pay any such Taxes that it is required to pay with respect to such deduction or
withholding when due to the appropriate taxing authority or fails to remit to
the Administrative Agent the required receipts or other required documentary
evidence, such Borrower shall indemnify the Agents, the Lenders and the
Participants for any incremental taxes, interest, costs or penalties that may
become payable by the Agents, such Lenders or such Participants as a result of
any such failure.

SECTION
11.   MISCELLANEOUS

11.1.  
Notices.

(a)   Notices Generally.  Any notice or other communication herein
required or permitted to be given to a Credit Party, Syndication Agent,
Collateral Agent, Administrative Agent, Swing Line Lender, Issuing Bank or
Documentation Agent, shall be sent to such Person’s address as set forth on
Appendix B or in the other relevant Credit Document, and in the case of any
Lender, the address as indicated on Appendix B or otherwise indicated to
Administrative Agent in writing.  Except as
otherwise set forth in paragraph (b) below, each notice hereunder shall be in
writing and may be personally served, telexed or sent by telefacsimile or
United States mail or courier service and shall be deemed to have been given
when delivered in person or by courier service and signed for against receipt
thereof, upon receipt of telefacsimile or telex, or three Business Days after
depositing it in the United States mail with postage prepaid and properly
addressed; provided, no notice to any Agent shall be effective until
received by such Agent; provided  further, any such notice or
other communication shall at the request of the Administrative Agent be
provided to any sub-agent appointed pursuant to Section 9.3(c) hereto as
designated by the Administrative Agent from time to time.

(b)   Electronic Communications.

(i)   Notices and other communications to the
Lenders and the Issuing Bank hereunder may be delivered or furnished by
electronic communication (including e-mail and Internet or intranet
websites, including the Platform) pursuant to procedures approved by
Administrative Agent, provided that the foregoing shall not apply to
notices to any Lender or the Issuing Bank pursuant to Section 2 if such Lender
or the Issuing Bank, as applicable, has notified Administrative Agent that it
is incapable of receiving notices under such Section by electronic
communication.  Administrative Agent or
Borrowers may, in their discretion, agree to accept notices and other
communications to it hereunder by electronic communications pursuant to
procedures approved by it, provided that approval of such procedures may
be limited to particular notices or communications.  Unless Administrative Agent otherwise
prescribes, (i) notices and other 

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communications sent to an e-mail address
shall be deemed received upon the sender’s receipt of an acknowledgement from
the intended recipient (such as by the “return receipt requested” function, as
available, return e-mail or other written acknowledgement), provided
that if such notice or other communication is not sent during the normal
business hours of the recipient, such notice or communication shall be deemed
to have been sent at the opening of business on the next Business Day for the
recipient, and (ii) notices or communications posted to an Internet or intranet
website shall be deemed received upon the deemed receipt by the intended
recipient at its e-mail address as described in the foregoing clause (i) of
notification that such notice or communication is available and identifying the
website address therefor.

(ii)   Each Credit Party understands that the
distribution of material through an electronic medium is not necessarily secure
and that there are confidentiality and other risks associated with such
distribution and agrees and assumes the risks associated with such electronic
distribution, except to the extent caused by the willful misconduct or gross
negligence of Administrative Agent.

(iii)   The Platform and any Approved Electronic
Communications are provided “as is” and “as available”.  None of the Agents or any of their respective
officers, directors, employees, agents, advisors or representatives (the “Agent Affiliates”) warrant the accuracy,
adequacy, or completeness of the Approved Electronic Communications or the
Platform and each expressly disclaims liability for errors or omissions in the
Platform and the Approved Electronic Communications.  No warranty of any kind, express, implied or
statutory, including any warranty of merchantability, fitness for a particular
purpose, non-infringement of third party rights or freedom from viruses or
other code defects is made by the Agent Affiliates in connection with the
Platform or the Approved Electronic Communications.

(iv)   Each of the Credit Parties, the Lenders, the
Issuing Banks and the Agents agree that Administrative Agent may, but shall not
be obligated to, store any Approved Electronic Communications on the Platform
in accordance with Administrative Agent’s customary document retention
procedures and policies.

11.2.   Expenses.  On and after
the Closing Date, Borrowers agrees to pay promptly (a) all the actual and
reasonable out-of-pocket costs and expenses of preparation of the Credit
Documents and any consents, amendments, waivers or other modifications thereto;
(b) all the costs of furnishing all opinions by counsel for Borrowers and the
other Credit Parties; (c) the reasonable and actual out-of-pocket fees,
expenses and disbursements of counsel to Agents in connection with the
negotiation, preparation, execution and administration of the Credit Documents
and any consents, amendments, waivers or other modifications thereto and any
other documents or matters requested by Borrowers including one additional for
each; (d) all the actual costs and reasonable expenses of creating, perfecting
and recording Liens in favor of Collateral Agent, for the benefit of the
Secured Parties pursuant hereto, including filing, registration and recording
fees, expenses and taxes, stamp or documentary taxes, search fees, title
insurance premiums, notarial and translation costs and reasonable fees,
expenses and disbursements of counsel to each Agent and of counsel providing
any opinions that any Agent or Requisite Lenders may reasonably request in
respect of the Collateral or the Liens created pursuant to the 

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Collateral Documents; (e)
all the actual out-of-pocket costs and reasonable fees, expenses and
disbursements of any auditors, accountants, consultants or appraisers; (f) all
the actual out-of-pocket costs and reasonable expenses (including the
reasonable out-of-pocket fees, expenses and disbursements of any appraisers,
consultants, advisors and agents employed or retained by Collateral Agent in
accordance with the terms of the Credit Documents, and its counsel) in
connection with the custody or preservation of any of the Collateral; (g) all
other actual out-of-pocket and reasonable costs and expenses incurred by each
Agent in connection with the syndication of the Loans and Commitments and the
negotiation, preparation and execution of the Credit Documents and any
consents, amendments, waivers or other modifications thereto and the
transactions contemplated thereby; and (h) after the occurrence of a Default or
an Event of Default, all costs and expenses, including reasonable out-of-pocket
attorneys’ fees, notarial and translation costs and costs of settlement,
incurred by any Agent and Lenders in preserving or enforcing any Obligations of
or in collecting any payments due from any Credit Party hereunder or under the
other Credit Documents by reason of such Default or Event of Default (including
in connection with the sale, lease or license of, collection from, or other
realization upon any of the Collateral or the enforcement of the Guaranty) or
in connection with any refinancing or restructuring of the credit arrangements
provided hereunder in the nature of a “work-out” or pursuant to any
insolvency or bankruptcy cases or proceedings; provided, that, Borrowers
shall only be responsible to reimburse one counsel to Administrative Agent, one
counsel to Documentation Agent, one local counsel in each relevant jurisdiction
in which Holdings or any of its Subsidiaries is organized as deemed reasonable
necessary by the Administrative Agent and, with respect to clause (h), one
counsel to Lenders (unless any Lender have been advised by counsel that there
is an actual or reasonable likelihood of conflict of interest in which case
such Lender affected thereby may retain its own counsel); provided, further,
that, with respect to the Documentation Agent, the reimbursement obligation in
clauses (a) and (c) shall only apply to the extent incurred after December 21,
2005.

11.3.  
Indemnity.

(a)   In addition to the payment of expenses
pursuant to Section 11.2, each Credit Party agrees to defend (subject to
Indemnitees’ selection of counsel), indemnify, pay and hold harmless, each
Agent and Lender and the officers, partners, members, directors, trustees,
advisors, employees, agents, sub-agents and Affiliates of each Agent and each
Lender (each, an “Indemnitee”), from and against any and all Indemnified Liabilities; provided,
no Credit Party shall have any obligation to any Indemnitee hereunder with
respect to any Indemnified Liabilities to the extent such Indemnified
Liabilities arise from the gross negligence, bad faith or willful misconduct of
that Indemnitee or its officers, partners, members, directors, trustees,
advisors, employees, agents, sub-agents and Affiliates of each Agent and each
Lender; provided  further, that Euro Borrowers and any Foreign
Subsidiary shall not be liable for any Indemnified Liabilities pursuant to this
Section 11.3 attributable to the U.S. Borrower or any Domestic Subsidiary.  To the extent that the undertakings to
defend, indemnify, pay and hold harmless set forth in this Section 11.3 may be
unenforceable in whole or in part because they are violative of any law or
public policy, the applicable Credit Party shall contribute the maximum portion
that it is permitted to pay and satisfy under applicable law to the payment and
satisfaction of all Indemnified Liabilities incurred by Indemnitees or any of
them.

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(b)   To the extent permitted by applicable law,
no Credit Party shall assert, and each Credit Party hereby waives, any claim
against each Lender, each Agent and their respective Affiliates, directors, employees,
attorneys, agents or sub-agents, on any theory of liability, for special,
indirect, consequential or punitive damages (as opposed to direct or actual
damages) (whether or not the claim therefor is based on contract, tort or duty
imposed by any applicable legal requirement) arising out of, in connection
with, arising out of, as a result of, or in any way related to, this Agreement
or any Credit Document or any agreement or instrument contemplated hereby or
thereby or referred to herein or therein, the transactions contemplated hereby
or thereby, any Loan or the use of the proceeds thereof or any act or omission
or event occurring in connection therewith, and each Credit Party hereby
waives, releases and agrees not to sue upon any such claim or any such damages,
whether or not accrued and whether or not known or suspected to exist in its
favor.

11.4.   Set-Off.  In addition to
any rights now or hereafter granted under applicable law and not by way of
limitation of any such rights, upon the occurrence of any Event of Default each
Lender is hereby authorized by each Credit Party at any time or from time to
time subject to the consent of Administrative Agent (such consent not to be
unreasonably withheld or delayed), without notice to any Credit Party or to any
other Person (other than Administrative Agent), any such notice being hereby
expressly waived, to set off and to appropriate and to apply any and all
deposits (general or special, including Indebtedness evidenced by certificates
of deposit, whether matured or unmatured, but not including trust accounts) and
any other Indebtedness at any time held or owing by such Lender to or for the
credit or the account of any Credit Party against and on account of the
obligations and liabilities of any Credit Party to such Lender hereunder, the
Letters of Credit and participations therein and under the other Credit
Documents, including all claims of any nature or description arising out of or
connected hereto, the Letters of Credit and participations therein or with any
other Credit Document, irrespective of whether or not (a) such Lender shall
have made any demand hereunder or (b) the principal of or the interest on the
Loans or any amounts in respect of the Letters of Credit or any other amounts
due hereunder shall have become due and payable pursuant to Section 2 and
although such obligations and liabilities, or any of them, may be contingent or
unmatured.

11.5.  
Amendments and Waivers.

(a)   Requisite Lenders’ Consent.  Subject to the additional requirements of Sections
11.5(b) and 11.5(c), no amendment, modification, termination or waiver of any
provision of the Credit Documents, or consent to any departure by any Credit
Party therefrom, shall in any event be effective without the written
concurrence of the Requisite Lenders; provided, that any amendment,
modification, termination or waiver of the
terms of Section 6.8(b), Section 6.8(e) and the related definitions
shall be effective upon the written consent of the Requisite Revolving Lenders
only (or the Administrative Agent with the prior written consent thereof) and
shall not require the consent of Lenders holding Term Loans; provided, further,
that Administrative Agent may, with the consent of Borrower only, amend, modify
or supplement this Agreement to cure any ambiguity, omission, defect or
inconsistency, so long as such amendment, modification or supplement does not
adversely affect the rights of any Lender or Issuing Bank..

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(b)   All Lenders’ Consent.  Without the written consent of each Lender
(other than a Defaulting Lender) that would be directly affected thereby, no
amendment, modification, termination, or consent shall be effective if the
effect thereof would:

(i)   extend the scheduled final maturity of any
Loan or Note or the term of any Commitment;

(ii)   waive, reduce or postpone any scheduled
repayment or prepayment;

(iii)   extend the stated expiration date of any
Letter of Credit beyond the Revolving Commitment Termination Date;

(iv)   reduce the rate of interest on any Loan or
any fee or any premium payable under the Credit Documents;

(v)   extend the time for payment of any such
interest or fees, or any other amount due under the Credit Documents;

(vi)   reduce the principal amount of any Loan or
any reimbursement obligation in respect of any Letter of Credit;

(vii)   amend, modify, terminate or waive any
provision of Section 2.13(b)(ii), Section 10, this Section 11.5(b), Section
11.5(c) or any other provision of this Agreement that expressly provides that
the consent of all Lenders is required;

(viii)   amend the definition of “Requisite Lenders,” “Requisite Revolving Lenders” or “Pro Rata Share”;  provided, with the consent of Requisite
Lenders or Requisite Revolving Lenders, as applicable, additional extensions of
credit pursuant hereto may be included in the determination of “Requisite Lenders” or “Requisite Revolving Lenders,”
as applicable, or “Pro Rata Share” on substantially the same basis as the Term Loan
Commitments, the Term Loans, the Revolving Commitments and the Revolving Loans
are included on the Closing Date;

(ix)   release all or any material part of the
Collateral, or change in the nature or scope of a material part of the
Collateral, or release any of the Guarantors from the Guaranty, in each case
except as expressly provided in the Credit Documents; or

(x)   consent to the assignment or transfer by any
Credit Party of any of its rights and obligations under any Credit Document.

(c)   Other Consents.  No amendment, modification, termination or
waiver of any provision of the Credit Documents, or consent to any departure by
any Credit Party therefrom, shall:

(i)   increase any Revolving Commitment of any
Lender over the amount thereof then in effect without the consent of such
Lender; provided, no amendment, modification or waiver of any condition
precedent, covenant, Default or Event of Default shall constitute an increase
in any Revolving Commitment of any Lender;

 140
 

(ii)   amend, modify, terminate or waive any
provision hereof relating to the Swing Line Sublimit or the Swing Line Loans without
the consent of Swing Line Lender;

(iii)   alter the required application of any
repayments or prepayments as between Classes pursuant to Section 2.15 without
the consent of Lenders holding more than 50% of the aggregate Domestic Tranche
C Term Loan Exposure of all Lenders, European Term Loan Exposure of all
Lenders, Domestic Revolving Exposure of all Lenders or European Revolving
Exposure of all Lenders, as applicable, of each Class which is being allocated
a lesser repayment or prepayment as a result thereof;

(iv)   amend, modify, terminate or waive any
obligation of Lenders relating to the purchase of participations in Letters of
Credit as provided in Section 2.4(e) without the written consent of
Administrative Agent and of Issuing Bank or amend, modify, terminate or waive
any material provisions of this Agreement relating to Letters of Credit without
the consent of the Issuing Bank;

(v)   amend, modify or waive this Agreement or the
Pledge and Security Agreement so as to alter the ratable treatment of
Obligations arising under the Credit Documents and Obligations arising under
Hedge Agreements or the definition of “Lender Counterparty,” “Hedge Agreement,”
“Obligations,” or “Secured Obligations” in each case in a manner adverse to any
Lender Counterparty with Obligations then outstanding without the written
consent of any such Lender Counterparty; or

(vi)   amend, modify, terminate or waive any
provision of Section 9 as the same applies to any Agent, or any other provision
hereof as the same applies to the rights or obligations of any Agent, in each
case without the consent of such Agent.

(d)   Execution of Amendments, etc.  Administrative Agent may, but shall have no
obligation to, with the concurrence of any Lender, execute amendments,
modifications, waivers or consents on behalf of such Lender.  Any waiver or consent shall be effective only
in the specific instance and for the specific purpose for which it was
given.  No notice to or demand on any
Credit Party in any case shall entitle any Credit Party to any other or further
notice or demand in similar or other circumstances.  Any amendment, modification, termination,
waiver or consent effected in accordance with this Section 11.5 shall be
binding upon each Lender at the time outstanding, each future Lender and, if
signed by a Credit Party, on such Credit Party.

11.6.  
Successors and Assigns; Participations.

(a)   Generally.  This Agreement shall be binding upon the
parties hereto and their respective successors and assigns and shall inure to
the benefit of the parties hereto and the successors and assigns of
Lenders.  No Credit Party’s rights or
obligations hereunder nor any interest therein may be assigned or delegated by
any Credit Party without the prior written consent of all Lenders.  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 and, to the
extent expressly contemplated hereby, Affiliates of 

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each of the Agents and Lenders) any legal or
equitable right, remedy or claim under or by reason of this Agreement.

(b)   Register.  Borrowers, Administrative Agent and Lenders
shall deem and treat the Persons listed as Lenders in the Register as the
holders and owners of the corresponding Commitments and Loans listed therein
for all purposes hereof, and no assignment or transfer of any such Commitment
or Loan shall be effective, in each case, unless and until recorded in the
Register following receipt of an Assignment Agreement effecting the assignment
or transfer thereof, in each case, as provided in Section 11.6(d).  Each assignment shall be recorded in the
Register on the Business Day the Assignment Agreement is received by the Administrative
Agent, if received by 12:00 noon Local Time, and on the following Business Day
if received after such time, prompt notice thereof shall be provided to
Borrowers and a copy of such Assignment Agreement shall be maintained, as
applicable.  The date of such recordation
of a transfer shall be referred to herein as the “Assignment Effective Date.” 
Any request, authority or consent of any Person who, at the time of
making such request or giving such authority or consent, is listed in the
Register as a Lender shall be conclusive and binding on any subsequent holder,
assignee or transferee of the corresponding Commitments or Loans.

(c)   Right to Assign.  Each Lender shall have the right at any time
to sell, assign or transfer all or a portion of its rights and obligations
under this Agreement, including, without limitation, all or a portion of its
Commitment or Loans owing to it or other Obligations (provided, however,
that pro rata assignments shall not be required and each assignment shall be of
a uniform, and not varying, percentage of all rights and obligations under and
in respect of any Loan and any related Commitments; provided, further, however,
that each assignment of the European Term Loans shall be of a uniform, and not
varying, percentage of all rights and obligations under and in respect of the
European Term Loans, it being understood, for the avoidance of doubt, that the
European Term Loan Commitments, and the European Term Loans made thereunder,
constitute a single Loan hereunder and in no event shall any assignment
pursuant to this Section 11.6(c) be in an aggregate amount of less than €50,000
or the Dollar Equivalent thereof, unless the assignee represents and warrants
to and for the benefit of the Borrowers that it qualifies as a professional
market party (professionele marktpartij) as
defined in the Dutch Financial Supervision Act (Wet op het
financieel toezicht)):

(i)   to any Person meeting the criteria of clause
(i) of the definition of the term of “Eligible Assignee” upon the giving of
notice to Borrowers and Administrative Agent; and

(ii)   to any Person meeting the criteria of clause
(ii) of the definition of the term of “Eligible Assignee” upon giving of notice
to Borrowers and Administrative Agent and, in the case of assignments of
Revolving Loans or Revolving Commitments to any such Person (except in the case
of assignments made by or to GSCP or CUSA), consented to by Borrowers and
Administrative Agent (such consent not to be (x) unreasonably withheld or
delayed or, (y) in the case of Borrowers, required at any time an Event of
Default shall have occurred and then be continuing); provided, each such
assignment pursuant to this Section 11.6(c)(ii) shall be in an aggregate amount
of 

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not less than (A) $5,000,000 or, with respect
to European Revolving Loans, the Dollar Equivalent thereof (or such lesser
amount as may be agreed to by Borrowers and Administrative Agent or as shall
constitute the aggregate amount of the Revolving Commitments and Revolving
Loans of the assigning Lender) with respect to the assignment of the Revolving
Commitments and Revolving Loans and (B) $500,000 or, with respect to the
European Term Loans, the Dollar Equivalent thereof (or such lesser amount as
may be agreed to by Borrowers and Administrative Agent or as shall constitute
the aggregate amount of the Term Loans of the assigning Lender) with respect to
the assignment of Term Loans and contemporaneous assignments to or by more than
one Related Fund will be treated as one assignment for this purpose.

(d)   Mechanics.  Subject to the other requirements of this
Section 11.6, assignments and assumptions of Term Loans shall only be effected
by manual execution and delivery to the Administrative Agent of an Assignment
Agreement.  Assignments and assumptions
of Revolving Loans and Revolving Commitments shall only be effected by manual
execution and delivery to the Administrative Agent of an Assignment
Agreement.  Assignments made pursuant to
the foregoing provision shall be effective as of the Assignment Effective Date.  In connection with all assignments there
shall be delivered to Administrative Agent such forms, certificates or other
evidence, if any, (i) with respect to United States federal income tax
withholding matters as the assignee under such Assignment Agreement may be
required to deliver pursuant to Section 2.20(d), and (ii) non-U.S.
withholding tax under the law of the jurisdiction in which each applicable Euro
Borrower is located, or any treaty to which such jurisdiction is a party, as
the assignee under such Assignment Agreement may be required to deliver
pursuant to Section 2.20(e), in each case, together with payment to the
Administrative Agent of a registration and processing fee of $3,500 (except
that (i) no such registration and processing fee shall be payable (y) in
connection with an assignment by or to GSCP or any Affiliate thereof or (z) in
the case of an Assignee which is already a Lender or is an Affiliate or Related
Fund of a Lender or a Person under common management with a Lender and (ii)
only one such registration and processing fee shall be payable for
contemporaneous assignments to or by more than one Related Fund).

(e)   Representations and Warranties of
Assignee.  Each Lender, upon
execution and delivery hereof or upon succeeding to an interest in the
Commitments and Loans, as the case may be, represents and warrants as of the
Effective Date or as of the Assignment Effective Date that (i) it is an
Eligible Assignee; (ii) it has experience and expertise in the making of or
investing in commitments or loans such as the applicable Commitments or Loans,
as the case may be; and (iii) it will make or invest in, as the case may be,
its Commitments or Loans for its own account in the ordinary course and without
a view to distribution of such Commitments or Loans in violation of the Securities
Act or the Exchange Act or other federal securities laws (it being understood
that, subject to the provisions of this Section 11.6, the disposition of such
Commitments or Loans or any interests therein shall at all times remain within
its exclusive control).

(f)   Effect
of Assignment.  Subject to the terms
and conditions of Section 2.20 and this Section 11.6, as of the “Assignment
Effective Date” (i) the assignee thereunder shall have the rights and
obligations of a “Lender” hereunder to the extent of its interest in the Loans
and Commitments as reflected in the Register and shall thereafter be a party
hereto

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and a “Lender” for all purposes hereof; (ii) the assigning Lender
thereunder shall, to the extent that rights and obligations hereunder have been
assigned to the assignee, relinquish its rights (other than any rights which
survive the termination hereof under Section 11.8) and be released from its
obligations hereunder (and, in the case of an assignment covering all or the
remaining portion of an assigning Lender’s rights and obligations hereunder,
such Lender shall cease to be a party hereto on the Assignment Effective Date; provided,
anything contained in any of the Credit Documents to the contrary
notwithstanding, (y) Issuing Bank shall continue to have all rights and
obligations thereof with respect to such Letters of Credit until the
cancellation or expiration of such Letters of Credit and the reimbursement of
any amounts drawn thereunder and (z) such assigning Lender shall continue to be
entitled to the benefit of all indemnities hereunder as specified herein with
respect to matters arising out of the prior involvement of such assigning
Lender as a Lender hereunder); (iii) the Commitments shall be modified to
reflect any Commitment of such assignee and any Revolving Commitment of such
assigning Lender, if any; and (iv) if any such assignment occurs after the
issuance of any Note hereunder, the assigning Lender shall, upon the
effectiveness of such assignment or as promptly thereafter as practicable,
surrender its applicable Notes to Administrative Agent for cancellation, and
thereupon applicable Borrower shall issue and deliver new Notes, if so
requested by the assignee and/or assigning Lender, to such assignee and/or to
such assigning Lender, with appropriate insertions, to reflect the new
Revolving Commitments and/or outstanding Loans of the assignee and/or the
assigning Lender.

(g)   Participations.  Each Lender shall have the right at any time
to sell one or more participations to any Person (each such Person, a “Participant”) (other than Holdings, any of its Subsidiaries
or any of its Affiliates) in all or any part of its Commitments, Loans or in
any other Obligation.  The holder of any
such participation, other than an Affiliate of the Lender granting such
participation, shall not be entitled to require such Lender to take or omit to
take any action hereunder except with respect to any amendment, modification or
waiver that would (i) extend the final scheduled maturity of any Loan,
Note or Letter of Credit (unless such Letter of Credit is not extended beyond
the Revolving Commitment Termination Date) in which such participant is
participating, or reduce the rate or extend the time of payment of interest or
fees thereon (except in connection with a waiver of applicability of any post-default
increase in interest rates) or reduce the principal amount thereof, or increase
the amount of the participant’s participation over the amount thereof then in
effect (it being understood that a waiver of any Default or Event of Default or
of a mandatory reduction in the Commitment shall not constitute a change in the
terms of such participation, and that an increase in any Commitment or Loan
shall be permitted without the consent of any participant if the participant’s
participation is not increased as a result thereof), (ii) consent to the
assignment or transfer by any Credit Party of any of its rights and obligations
under this Agreement or (iii) release all or substantially all of the
Collateral under the Collateral Documents (except as expressly provided in the
Credit Documents) supporting the Loans hereunder in which such participant is
participating.  Each Borrower agrees that
each participant shall be entitled to the benefits of Sections 2.18(c), 2.19
and 2.20 to the same extent as if it were a Lender and had acquired its interest
by assignment pursuant to paragraph (c) of this Section; provided, (i) a
participant shall not be entitled to receive any greater payment under Section
2.19 or 2.20 than the applicable Lender would have been entitled to receive
with respect to the participation sold to such participant, unless the sale of

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the participation to such participant is made with the applicable
Borrower’s prior written consent and (ii) a participant that would be a Non-US
Lender to the Domestic Loan if it were a Lender shall not be entitled to the
benefits of Section 2.20 unless U.S. Borrower is notified of the participation
sold to such participant and such participant agrees, for the benefit of U.S.
Borrower, to comply with Section 2.20 as though it were a Lender.  To the extent permitted by law, each
participant also shall be entitled to the benefits of Section 11.4 as though it
were a Lender, provided such Participant agrees to be subject to Section 2.17
as though it were a Lender.

(h)   Certain
Other Assignments and Participations. 
In addition to any other assignment or participation permitted pursuant
to this Section 11.6, any Lender may assign and/or pledge all or any portion of
its Loans, the other Obligations owed by or to such Lender, and its Notes, if
any, to secure obligations of such Lender including, without limitation, any
Federal Reserve Bank as collateral security pursuant to Regulation A of the
Board of Governors and any operating circular issued by such Federal Reserve
Bank and, including further in the case of any Lender that is a fund, any pledge
or assignment to any holders of obligations owed, or securities issued, by such
Lender including to any trustee for, or any other representative of, such
holders; provided, that no Lender, as between Borrowers and such Lender,
shall be relieved of any of its obligations hereunder as a result of any such
assignment and pledge, and provided  further, that in no event
shall the applicable Federal Reserve Bank, pledgee or trustee be considered to
be a “Lender” or be entitled to require the assigning Lender to take or omit to
take any action hereunder.

11.7.   Independence of Covenants.  All covenants hereunder shall be given
independent effect so that if a particular action or condition is not permitted
by any of such covenants, the fact that it would be permitted by an exception
to, or would otherwise be within the limitations of, another covenant shall not
avoid the occurrence of a Default or an Event of Default if such action is
taken or condition exists.

11.8.   Survival of Representations, Warranties and
Agreements.  All
representations, warranties and agreements made herein shall survive the
execution and delivery hereof and the making of any Credit Extension.  Notwithstanding anything herein or implied by
law to the contrary, the agreements of each Credit Party set forth in Sections
2.18(c), 2.19, 2.20, 11.2, 11.3 and 11.4 and the agreements of Lenders set
forth in Sections 2.17, 9.3(b) and 9.6 shall survive the payment of the Loans,
the cancellation or expiration of the Letters of Credit and the reimbursement
of any amounts drawn thereunder, and the termination hereof.

11.9.   No Waiver; Remedies Cumulative.  No failure or delay on the part of any Agent
or any Lender in the exercise of any power, right or privilege hereunder or
under any other Credit Document shall impair such power, right or privilege or
be construed to be a waiver of any default or acquiescence therein, nor shall
any single or partial exercise of any such power, right or privilege preclude
other or further exercise thereof or of any other power, right or
privilege.  The rights, powers and
remedies given to each Agent and each Lender hereby are cumulative and shall be
in addition to and independent of all rights, powers and remedies existing by
virtue of any statute or rule of law or in any of the other Credit Documents or
any of the Hedge Agreements.  Any
forbearance or failure to exercise, and any delay in exercising, any right,
power or remedy hereunder shall not impair any such right, power or remedy or
be

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construed to be a waiver
thereof, nor shall it preclude the further exercise of any such right, power or
remedy.

11.10.   Marshalling; Payments Set Aside.  Neither any Agent nor any Lender shall be
under any obligation to marshal any assets in favor of any Credit Party or any
other Person or against or in payment of any or all of the Obligations.  To the extent that any Credit Party makes a
payment or payments to Administrative Agent or Lenders (or to Administrative
Agent, on behalf of Lenders), or any Agent or Lenders enforce any security
interests or exercise their rights of setoff, and such payment or payments or
the proceeds of such enforcement or setoff or any part thereof are subsequently
invalidated, declared to be fraudulent or preferential, set aside and/or
required to be repaid to a trustee, receiver or any other party under any
bankruptcy law, any other state or federal law, common law or any equitable
cause, then, to the extent of such recovery, the obligation or part thereof
originally intended to be satisfied, and all Liens, rights and remedies
therefor or related thereto, shall be revived and continued in full force and
effect as if such payment or payments had not been made or such enforcement or
setoff had not occurred.

11.11.   Severability.  In case any provision in or obligation
hereunder or under any other Credit Document shall be invalid, illegal or
unenforceable in any jurisdiction, the validity, legality and enforceability of
the remaining provisions or obligations, or of such provision or obligation in
any other jurisdiction, shall not in any way be affected or impaired thereby.

11.12.   Obligations Several; Independent Nature of
Lenders’ Rights.  The
obligations of Lenders hereunder are several and no Lender shall be responsible
for the obligations or Commitment of any other Lender hereunder.  Nothing contained herein or in any other
Credit Document, and no action taken by Lenders pursuant hereto or thereto,
shall be deemed to constitute Lenders as a partnership, an association, a joint
venture or any other kind of entity. The amounts payable at any time hereunder
to each Lender shall be a separate and independent debt, and each Lender shall
be entitled to protect and enforce its rights arising out hereof and it shall
not be necessary for any other Lender to be joined as an additional party in
any proceeding for such purpose.

11.13.   Headings.  Section headings herein are included herein
for convenience of reference only and shall not constitute a part hereof for
any other purpose or be given any substantive effect.

11.14.   APPLICABLE LAW.  THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES THEREOF.

11.15.   CONSENT TO JURISDICTION.  (a) ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST
ANY CREDIT PARTY ARISING OUT OF OR RELATING HERETO OR ANY OTHER CREDIT
DOCUMENT, OR ANY OF THE OBLIGATIONS, SHALL BE BROUGHT IN ANY STATE OR FEDERAL
COURT OF COMPETENT JURISDICTION IN THE STATE, COUNTY AND CITY OF NEW YORK.  BY EXECUTING AND DELIVERING THIS AGREEMENT,
EACH CREDIT PARTY FOR

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ITSELF AND IN CONNECTION WITH ITS
PROPERTIES, AND, EXCEPT IN CONNECTION WITH EXERCISING REMEDIES AND ENFORCING
RIGHTS WITH RESPECT TO THE COLLATERAL, THE LENDERS AND THE AGENTS, IN EACH CASE
IRREVOCABLY (A) ACCEPTS GENERALLY AND UNCONDITIONALLY THE EXCLUSIVE  JURISDICTION AND VENUE OF SUCH COURTS; (B)
WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; (C) AGREES THAT SERVICE OF ALL
PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR
CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE APPLICABLE CREDIT PARTY AT ITS
ADDRESS PROVIDED IN ACCORDANCE WITH SECTION 11.1; (D) AGREES THAT SERVICE AS
PROVIDED IN CLAUSE (C) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER
THE APPLICABLE CREDIT PARTY IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND
OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND (E)
AGREES THAT AGENTS AND LENDERS RETAIN THE RIGHT TO SERVE PROCESS IN ANY OTHER
MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST ANY CREDIT PARTY IN THE
COURTS OF ANY OTHER JURISDICTION.

(b)           EACH EURO BORROWER AND EACH OF THE
FOREIGN GUARANTORS APPOINTS THE U.S. BORROWER AS ITS AGENT (IN SUCH CAPACITY,
THE “PROCESS AGENT”) TO RECEIVE, ON ITS BEHALF, SERVICE OF COPIES OF THE
SUMMONS AND COMPLAINT AND ANY OTHER PROCESS THAT MAY BE SERVED IN ANY SUCH
PROCEEDING.  SERVICE MAY BE MADE ON THE
PROCESS AGENT BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, AT ITS
ADDRESS PROVIDED IN ACCORDANCE WITH SECTION 11.1 HEREOF.

11.16.   WAIVER OF JURY TRIAL.  EACH OF THE PARTIES HERETO HEREBY AGREES TO
WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION
BASED UPON OR ARISING HEREUNDER OR UNDER ANY OF THE OTHER CREDIT DOCUMENTS OR
ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS LOAN
TRANSACTION OR THE LENDER/BORROWER RELATIONSHIP THAT IS BEING ESTABLISHED.  THE SCOPE OF THIS WAIVER IS INTENDED TO BE
ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT
AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING CONTRACT
CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND
STATUTORY CLAIMS.  EACH PARTY HERETO
ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS
RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS
AGREEMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER IN ITS RELATED
FUTURE DEALINGS.  EACH PARTY HERETO
FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL
COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS
FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 
THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED

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EITHER ORALLY OR IN WRITING
(OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION
11.16 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER SHALL APPLY
TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO OR
ANY OF THE OTHER CREDIT DOCUMENTS OR TO ANY OTHER DOCUMENTS OR AGREEMENTS
RELATING TO THE LOANS MADE HEREUNDER.  IN
THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A
TRIAL BY THE COURT.

11.17.   Confidentiality.  Each Agent, and each Lender (which term shall
for the purposes of this Section 11.17 include the Issuing Bank) shall hold all
non-public information regarding Holdings and its Subsidiaries and their
businesses identified as such by Borrowers and obtained by such Lender pursuant
to the requirements hereof in accordance with such Lender’s customary
procedures for handling confidential information of such nature, it being
understood and agreed by Borrowers that, in any event, each Agent and each
Lender may make (i) disclosures of such information to Affiliates of such Agent
or Lender and to such Agent’s or such Lender’s respective agents and advisors
(and to other Persons authorized by a Lender or Agent to organize, present or
disseminate such information in connection with disclosures otherwise made in
accordance with this Section 11.17), (ii) disclosures of such information
reasonably required by any bona fide or potential assignee, transferee or
participant in connection with the contemplated assignment, transfer or participation
of any Loans or any participations therein or by any pledgee referred to in
Section 11.6(h) or any direct or indirect contractual counterparties (or the
professional advisors thereto) to any swap or derivative transaction relating
to any Borrower and its obligations (provided, such assignees, transferees,
participants, counterparties, pledgees and advisors are advised of and agree to
be bound by either the provisions of this Section 11.17 or other provisions at
least as restrictive as this Section 11.17), (iii) disclosure to any rating
agency when required by it, provided that, prior to any disclosure, such
rating agency shall undertake in writing to preserve the confidentiality of any
confidential information relating to the Credit Parties received by it from any
of the Agents or any Lender, and (iv) disclosures required or requested by any
governmental agency or representative thereof or by the NAIC or pursuant to
legal or judicial process; provided, unless specifically prohibited by
applicable law or court order, each Agent and each Lender shall make reasonable
efforts to notify Borrowers of any request by any governmental agency or
representative thereof (other than any such request in connection with any
examination of the financial condition or other routine examination of such
Lender by such governmental agency) for disclosure of any such non-public
information prior to disclosure of such information.  In addition, each Agent and each Lender may
disclose the existence of this Agreement and the information about this
Agreement to market data collectors, similar services providers to the lending
industry, and service providers to the Agents and the Lenders in connection
with the administration and management of this Agreement and the other Credit
Documents.  Notwithstanding anything to
the contrary set forth herein, each party (and each of their respective
employees, representatives or other agents) may disclose to any and all
persons, without limitations of any kind, the tax treatment and tax structure
of the transactions contemplated by this Agreement and all materials of any
kind (including opinions and other tax analyses) that are provided to any such
party relating to such tax treatment and tax structure.  However, any information relating to the tax
treatment or tax structure shall remain subject to the confidentiality
provisions hereof (and the foregoing sentence shall not apply) to the extent

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reasonably necessary to
enable the parties hereto, their respective Affiliates, and their and their
respective Affiliates’ directors and employees to comply with applicable
securities laws.  For this purpose, “tax
structure” means any facts relevant to the federal income tax treatment of the
transactions contemplated by this Agreement but does not include information
relating to the identity of any of the parties hereto or any of their
respective Affiliates.

11.18.   Usury Savings Clause.  Notwithstanding any other provision herein,
the aggregate interest rate charged with respect to any of the Obligations,
including all charges or fees in connection therewith deemed in the nature of
interest under applicable law shall not exceed the Highest Lawful Rate.  If the rate of interest (determined without
regard to the preceding sentence) under this Agreement at any time exceeds the
Highest Lawful Rate, the outstanding amount of the Loans made hereunder shall
bear interest at the Highest Lawful Rate until the total amount of interest due
hereunder equals the amount of interest which would have been due hereunder if
the stated rates of interest set forth in this Agreement had at all times been
in effect.  In addition, if when the
Loans made hereunder are repaid in full the total interest due hereunder
(taking into account the increase provided for above) is less than the total
amount of interest which would have been due hereunder if the stated rates of
interest set forth in this Agreement had at all times been in effect, then to
the extent permitted by law, each applicable Borrower shall pay to
Administrative Agent an amount equal to the difference between the amount of
interest paid and the amount of interest which would have been paid if the
Highest Lawful Rate had at all times been in effect.  Notwithstanding the foregoing, it is the
intention of Lenders and Borrowers to conform strictly to any applicable usury
laws.  Accordingly, if any Lender
contracts for, charges, or receives any consideration which constitutes
interest in excess of the Highest Lawful Rate, then any such excess shall be
cancelled automatically and, if previously paid, shall at such Lender’s option
be applied to the outstanding amount of the Loans made hereunder or be refunded
to Borrowers.

11.19.   Counterparts.  This Agreement may be executed in any number
of counterparts, each of which when so executed and delivered shall be deemed
an original, but all such counterparts together shall constitute but one and
the same instrument.

11.20.   Effectiveness.  This Agreement shall become effective upon
the execution of a counterpart hereof by each of the parties hereto and receipt
by Borrowers and Administrative Agent of written or telephonic notification of
such execution and authorization of delivery thereof.

11.21.   Patriot Act.  Each Lender and Administrative Agent (for
itself and not on behalf of any Lender) hereby notifies Borrowers that pursuant
to the requirements of the Act, it is required to obtain, verify and record
information that identifies Borrower, which information includes the name and
address of each Borrower and other information that will allow such Lender or
Administrative Agent, as applicable, to identify such Borrower in accordance
with the Act.

11.22.   Electronic Execution of Assignments.  The words “execution,” “signed,” “signature,”
and words of like import in any Assignment Agreement shall be deemed to include
electronic signatures or the keeping of records in electronic form, each of
which shall be of the same legal effect, validity or enforceability as a
manually executed signature or the use of a 

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paper-based recordkeeping
system, as the case may be, to the extent and as provided for in any applicable
law, including the Federal Electronic Signatures in Global and National
Commerce Act, the New York State Electronic Signatures and Records Act, or any
other similar state laws based on the Uniform Electronic Transactions Act.

11.23.   Judgment Currency.

(a)   If, for the purposes of obtaining or
enforcing any judgment or award in any court, or for making or filing a claim
or proof, it is necessary to convert a sum due hereunder in any currency (the “Original Currency”) into another currency (the “Other Currency”), the parties hereto agree, to the fullest
extent permitted by law, that the rate of exchange used shall be that at which,
in accordance with normal banking procedures, Administrative Agent could
purchase the Original Currency with such Other Currency in New York, New York
on the Business Day immediately preceding the day on which any such judgment,
or any relevant part thereof, is given.

(b)   The obligations of Borrowers in respect of
any sum due from it to any Agent or Lender hereunder shall, notwithstanding any
judgment or award in such Other Currency, be discharged only to the extent that
on the Business Day following receipt by such Agent or Lender of any sum adjudged
to be so due in such Other Currency such Agent or Lender may in accordance with
normal banking procedures purchase the Original Currency with such Other
Currency; if the Original Currency so purchased is less than the sum originally
due such Agent or Lender in the Original Currency, Borrowers agree, as a
separate obligation and notwithstanding any such judgment, to indemnify such
Agent or Lender against such loss, and if the Original Currency so purchased
exceeds the sum originally due to such Agent or Lender in the Original
Currency, such Agent or Lender shall remit such excess to such Borrower.

11.24.   Amendment and Restatement.  It is the intention of each of the parties
hereto that the Existing First Lien Credit Agreement be amended and restated so
as to preserve the perfection and priority of all security interests securing
indebtedness and obligations under the Existing First Lien Credit Agreement and
that all Indebtedness and Obligations of Holdings and its Subsidiaries
hereunder and thereunder shall be secured by the Collateral Documents and that
this Agreement does not constitute a novation of the obligations and
liabilities existing under the Existing First Lien Credit Agreement.  The parties hereto further acknowledge and
agree that this Agreement constitutes an amendment of the Existing First Lien
Credit Agreement made under and in accordance with the terms of Section 11.5 of
the Existing First Lien Credit Agreement. 
In addition, unless specifically amended hereby, each of the Credit
Documents, the Exhibits and Schedules to the Existing First Lien Credit
Agreement shall continue in full force and effect and that, from and after the
Effective Date, all references to the “Credit Agreement” contained therein
shall be deemed to refer to this Agreement.

11.25.   Grant of Security Interests.

(a)   Each Credit Party, subject to the terms and
limits contained herein and in the Collateral Documents has (i) guarantied the
Obligations and (ii) created Liens in favor of Collateral Agent on certain
Collateral to secure its obligations hereunder, under Section 7 hereof and each
Collateral Document, respectively (and as applicable).  Each Credit Party

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hereby acknowledges that
it has reviewed the terms and provisions of this Agreement and consents to the
amendment and restatement of the Existing First Lien Credit Agreement effected
pursuant to this Agreement.  Each Credit
Party hereby (i) confirms that each Credit Document to which it is a party or
is otherwise bound and all Collateral encumbered thereby will continue to
guarantee or secure, as the case may be, to the fullest extent possible in
accordance with the Credit Documents, the payment and performance of the
Obligations, as the case may be, including without limitation the payment and
performance of all such applicable Obligations that are joint and several
obligations of each Grantor now or hereafter existing, and (ii) grants to the
Administrative Agent for the benefit of the Secured Parties a security interest
in and continuing lien on all of such Credit Party’s right, title and interest
in, to and under all “Collateral” as defined in the Pledge and Security
Agreement, in each case whether now owned or existing or hereafter acquired or
arising and wherever located, as collateral security for the prompt and
complete payment and performance in full when due, whether at stated maturity,
by required prepayment, declaration, acceleration, demand or otherwise, of all
applicable Obligations subject to the terms and limits contained herein and in
the Collateral Documents.

(b)   Each Credit Party acknowledges and agrees
that any of the Credit Documents to which it is a party or otherwise bound
shall continue in full force and effect and that all of its obligations
thereunder shall be valid and enforceable and shall not be impaired or limited
by the execution or effectiveness of the amendment and restatement of the
Existing First Lien Credit Agreement. 
Each Credit Party represents and warrants that all representations and
warranties contained in the Credit Documents to which it is a party or
otherwise bound are true and correct in all material respects on and as of the
Effective Date to the same extent as though made on and as of that date, except
to the extent such representations and warranties specifically relate to an
earlier date, in which case they were true and correct in all material respects
on and as of such earlier date.

[Remainder of page
intentionally left blank]

 151

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

	
  

  	
  AUDATEX NORTH AMERICA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  	
   

  	
   

  
	
   

  	
   

  	
  Name: Tony Aquila

  	
   

  
	
   

  	
   

  	
  Title: President and CEO

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  AUDATEX HOLDINGS, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  	
   

  	
   

  
	
   

  	
   

  	
  Name: Tony Aquila

  	
   

  
	
   

  	
   

  	
  Title: President and CEO

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  AUDATEX CANADA HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  	
   

  	
   

  
	
   

  	
   

  	
  Name: Tony Aquila

  	
   

  
	
   

  	
   

  	
  Title: President and CEO

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  AUDATEX HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  	
   

  	
   

  
	
   

  	
   

  	
  Name: Tony Aquila

  	
   

  
	
   

  	
   

  	
  Title: President and CEO

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  COLLISION REPAIR BUSINESS 

  
	
   

  	
  MANAGEMENT SERVICES, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  	
   

  	
   

  
	
   

  	
   

  	
  Name: Tony Aquila

  	
   

  
	
   

  	
   

  	
  Title: President and CEO

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  CLAIMS SERVICES GROUP, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  	
   

  	
   

  
	
   

  	
   

  	
  Name: Tony Aquila

  	
   

  
	
   

  	
   

  	
  Title: President and CEO

  	
   

  
						

 

 

	
  

  	
  HOLLANDER, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  
	
   

  	
   

  	
  Name: Tony Aquila

  
	
   

  	
   

  	
  Title: President and CEO

  
	
   

  	
   

  	
   

  
	
   

  	
  PROPERTY CLAIMS SERVICES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  
	
   

  	
   

  	
  Name: Tony Aquila

  
	
   

  	
   

  	
  Title: President and CEO

  
	
   

  	
   

  
	
   

  	
  SOLERA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  
	
   

  	
   

  	
  Name: Tony Aquila

  
	
   

  	
   

  	
  Title: President and CEO

  
	
   

  	
   

  	
   

  
	
   

  	
  SOLERA INTEGRATED MEDICAL 

  
	
   

  	
  SOLUTIONS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  
	
   

  	
   

  	
  Name: Tony Aquila

  
	
   

  	
   

  	
  Title: President and CEO

  

 

 

	
  

  	
  AUDATEX HOLDINGS III B.V.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ P. van den Heuvel

  
	
   

  	
   

  	
  Name: P. van den Heuvel

  
	
   

  	
   

  	
  Title: Managing Director

  

 

 

	
  

  	
  AUDATEX HOLDINGS IV B.V.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ P. van den Heuvel

  
	
   

  	
   

  	
  Name: P. van den Heuvel

  
	
   

  	
   

  	
  Title: Managing Director

  

 

 

	
  

  	
  AUDATEX NETWORK SERVICES 

  
	
   

  	
  NETHERLANDS B.V.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ P. van den Heuvel

  
	
   

  	
   

  	
  Name: P. van den Heuvel

  
	
   

  	
   

  	
  Title: Managing Director

  

 

 

	
  

  	
  SOLERA NEDERLAND HOLDING B.V.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ P. van den Heuvel

  
	
   

  	
   

  	
  Name: P. van den Heuvel

  
	
   

  	
   

  	
  Title: Managing Director

  

 

 

	
  

  	
  SOLERA NEDERLAND B.V.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ P. van den Heuvel

  
	
   

  	
   

  	
  Name: P. van den Heuvel

  
	
   

  	
   

  	
  Title: Managing Director

  

 

 

	
  

  	
  CATO BERICHTENDIENST B.V.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ P. van den Heuvel

  
	
   

  	
   

  	
  Name: P. van den Heuvel

  
	
   

  	
   

  	
  Title: Managing Director

  

 

 

	
  

  	
  AUDATEX DEUTSCHLAND GMBH

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Wolfgang Ahrens

  
	
   

  	
   

  	
  Name: Wolfgang Ahrens

  
	
   

  	
   

  	
  Title: GF

  
	
   

  	
   

  	
   

  
	
   

  	
  ARGEMU HOLDING GMBH

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Wolfgang Ahrens

  
	
   

  	
   

  	
  Name: Wolfgang Ahrens

  
	
   

  	
   

  	
  Title: GF

  
	
   

  	
   

  	
   

  
	
   

  	
  AUDATEX DATEN INTERNATIONALE 

  
	
   

  	
  DATENENTWICKLUNGS GMBH

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Wolfram Müller

  
	
   

  	
   

  	
  Name: Wolfram Müller

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  EXSOFT GMBH

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Herr Dürasch

  
	
   

  	
   

  	
  Name: Herr Dürasch

  
	
   

  	
   

  	
  Title: Geschäftsführer

  
	
   

  	
   

  	
   

  
	
   

  	
  HADAKON KOMMUNIKATIONS-SYSTEME 

  
	
   

  	
  GMBH

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Herr Dürasch

  
	
   

  	
   

  	
  Name: Herr Dürasch

  
	
   

  	
   

  	
  Title: Geschäftsführer

  

 

 

	
  

  	
  AUDATEX GMBH

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Renato Giger

  	
   

  	
  /s/ B. Schneider

  
	
   

  	
   

  	
  Name: Renato Giger

  	
   

  	
  Barbara Schneider

  
	
   

  	
   

  	
  Title: GF

  	
   

  	
  GF

  
	
   

  	
   

  	
   

  
	
   

  	
  AUDATEX HOLDING GMBH

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Renato Giger

  	
   

  	
  /s/ B. Schneider

  
	
   

  	
   

  	
  Name: Renato Giger

  	
   

  	
  Barbara Schneider

  
	
   

  	
   

  	
  Title: GF

  	
   

  	
  GF

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  AUDATEX (SCHWEIZ) GMBH

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Renato Giger

  	
   

  	
  /s/ B. Schneider

  
	
   

  	
   

  	
  Name: Renato Giger

  	
   

  	
  Barbara Schneider

  
	
   

  	
   

  	
  Title: GF

  	
   

  	
  GF

  
	
   

  	
   

  	
   

  
	
   

  	
  AUDATEX SYSTEMS GMBH

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Renato Giger

  	
   

  	
  /s/ B. Schneider

  
	
   

  	
   

  	
  Name: Renato Giger

  	
   

  	
  Barbara Schneider

  
	
   

  	
   

  	
  Title: GF

  	
   

  	
  GF

  

 

 

	
  

  	
  AUDATEX CANADA, ULC

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ Tony
  Aquila

  
	
   

  	
   

  	
  Name: Tony Aquila

  
	
   

  	
   

  	
  Title: President and CEO

  

 

 

	
  

  	
  AUDATEX HOLDINGS II S.ÀR.L.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Bruno
  Bagnouls

  
	
   

  	
   

  	
  Name: Bruno Bagnouls

  
	
   

  	
   

  	
  Title: Manager

  

 

 

	
  

  	
  AUDATEX (UK) LIMITED

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Renato Giger

  
	
   

  	
   

  	
  Name: Renato Giger

  
	
   

  	
   

  	
  Title: Director

  

 

 

	
  

  	
  GOLDMAN SACHS CREDIT PARTNERS L.P.,

  
	
   

  	
  as Lead Arranger, Syndication Agent,

  Administrative Agent, Collateral Agent and a

  Lender

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Bruce H. Mendelsohn

  
	
   

  	
   

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  

 

 

	
  

  	
  GOLDMAN SACHS CREDIT PARTNERS L.P.,

  
	
   

  	
  as Joint Bookrunner

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Bruce H. Mendelsohn

  
	
   

  	
   

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  

 

 

 

	
  

  	
  CITICORP GLOBAL MARKETS, INC.,

  
	
   

  	
  as Joint Bookrunner

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Caesar W. Wyszomirski

  
	
   

  	
   

  	
  Name: Caesar W. Wyszomirski

  
	
   

  	
   

  	
  Title: Director

  

 

 

	
  

  	
  CITICORP USA, INC.,

  
	
   

  	
  as Documentation Agent, Swing Line Lender and a

  Lender

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Ryan J. Davis

  
	
   

  	
   

  	
  Name: Ryan J. Davis

  
	
   

  	
   

  	
  Title: V.P.

  

 

 

	
  

  	
  CITIBANK, N. A.,

  
	
   

  	
  as Issuing Bank

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Caesar W. Wyszomirski

  
	
   

  	
   

  	
  Name: Caesar W. Wyszomirski

  
	
   

  	
   

  	
  Title: VP

  

 

APPENDIX A-1

TO
CREDIT AND GUARANTY AGREEMENT

Domestic Tranche C Term
Loan Commitments

	
  Lender

  	
   

  	
  Domestic Tranche C Term Loan

  Commitment

  	
   

  	
  Pro

  Rata Share

  	
   

  
	
  Goldman Sachs Credit
  Partners L.P.

  	
   

  	
  $

  	
  230,000,000

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  $

  	
  230,000,000.00

  	
   

  	
  100

  	
  %

  

 

 A-1-1

APPENDIX A-2

TO
CREDIT AND GUARANTY AGREEMENT

European Term Loan
Commitments

	
  Lender

  	
   

  	
  European Term Loan C1

  Commitment

  	
   

  	
  Pro

  Rata Share

  	
   

  
	
  Goldman Sachs Credit
  Partners L.P.

  	
   

  	
  €

  	
  52,080,000

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  €

  	
  52,080,000

  	
   

  	
  100

  	
  %

  

 

	
  Lender

  	
   

  	
  European Term Loan C2

  Commitment

  	
   

  	
  Pro

  Rata Share

  	
   

  
	
  Goldman Sachs Credit
  Partners L.P.

  	
   

  	
  €

  	
  227,920,000

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  €

  	
  227,920,000

  	
   

  	
  100

  	
  %

  

 

 A-2-1

APPENDIX B

TO
CREDIT AND GUARANTY AGREEMENT

Notice Addresses

AUDATEX NORTH AMERICA, INC.

and each Guarantor

12230 El Camino Real

Suite 200

San Diego, CA 92130

Attention: Jack Pearlstein

Facsimile: 925-866-3491

SOLERA NEDERLAND
HOLDING B.V.

Zollstrasse 62 

8021 Zürich 

Switzerland

Attention: Renato Giger

Facsimile: 41 44 278 85 55

with
a copy to:

12230 El Camino Real

Suite 200

San Diego, CA 92130

Attention: Jack Pearlstein

Facsimile: 925-866-3491

AUDATEX HOLDINGS
IV B.V.

Zollstrasse 62 

8021 Zürich 

Switzerland

Attention: Renato Giger

Facsimile: 41 44 278 85 55

with
a copy to:

12230 El Camino Real

Suite 200

San Diego, CA 92130

Attention: Jack Pearlstein

Facsimile:
925-866-3491

 B-1
 

AUDATEX HOLDINGS, LLC

12230 El Camino Real

Suite 200

San Diego, CA 92130

Attention: Jack Pearlstein

Facsimile: 925-866-3491

 B-2
 

GOLDMAN SACHS CREDIT PARTNERS L.P.,

as Administrative Agent, Collateral Agent and
a Lender:

Administrative Agent’s and Collateral Agent’s
Principal Office:

Goldman
Sachs Credit Partners L.P. 

c/o Goldman, Sachs & Co. 

30 Hudson Street, 17th Floor 

Jersey City, NJ 07302 

Attention:  SBD Operations 

Attention:  Pedro Ramirez 

Telecopier:  (212) 357-4597  

Email:  gsd.link@gs.com

with
a copy to:

Goldman
Sachs Credit Partners L.P. 

1 New York Plaza 

New York, New York  10004 

Attention:  Jim Balcom 

Telecopier:  (212) 902-3000

 B-3
 

CITICORP USA, INC.

as Documentation Agent, Swing Line Lender and a Lender

CITIBANK, N.A.,

as Issuing Bank,

Documentation Agent’s, Issuing Bank’s and
Swing Line Lender’s Principal Office:

Citibank, N.A.

390 Greenwich
Street (1st Floor)

New York, New
York 10013

Attention:
Edward T. Crook

Facsimile: 212-723-8691

with a copy to:

Cahill Gordon & Reindel LLP

80 Pine Street, 17th Floor

New York, New York 10005

Attention: Michael Michetti

Facsimile:
212-269-5420

 B-4

SCHEDULE 1.1A

SECURITY PRINCIPLES

The Borrowers
(collectively with the Guarantors and their Subsidiaries, the “Group”) and the Lenders have agreed and acknowledged that
their rights and obligations under this Agreement, to the extent applicable, in
respect of (i) the giving or taking of guarantees with respect to the European
Subsidiaries of the Euro Borrowers; (ii) the giving or taking of security with
respect to the European Subsidiaries of the Euro Borrowers; and (iii) all the
rights and obligations associated with such giving or taking of guarantees and
security with respect to the European Subsidiaries of the Euro Borrowers, shall
be subject to and limited by the Security Principles.  The Security Principles embody the
recognition by all parties that there may be certain legal and practical
difficulties in obtaining effective security from all European members of the
Group in every jurisdiction in which members of the Group are located.  In particular:

1.             general statutory
limitations, financial assistance, capital maintenance, corporate benefit,
fraudulent preference, thin capitalization rules, retention of title claims and
similar principles may limit the ability of a member of the Group to provide a
guarantee or security or may require that the guarantee or security be limited
by an amount or otherwise. If any such limit applies, the guarantees and
security provided will be limited to the maximum amount which the relevant
member of the Group may provide having regard to applicable law (including any
jurisprudence) and subject to fiduciary duties of management;

2.             the giving of a
guarantee, the granting and the terms of security or the perfection of the
security granted will not be required to the extent that it would incur any
legal fees, registration fees, stamp duty, and any other fees, Taxes or costs
directly associated with such security or guarantee which are materially
disproportionate to the benefit obtained by the Lenders;

3.             where there is
material incremental cost involved in creating security over all assets owned
by an obligor in a particular category (e.g. real estate) the principle stated
at paragraph 2 above shall apply and only the material assets in that category
(e.g. material real estate) shall be subject to security;

4.             it is expressly acknowledged
that in certain jurisdictions it may be either impossible or materially
impractical to grant guarantees or create security over certain categories of
assets in which event such guarantees will not be granted and security will not
be taken over such assets to the extent of such impossibility or material
impracticability.

5.             any assets subject to
third party arrangements (including minority ownership arrangements) which may
prevent the giving of a guaranty or the providing of security provided that, if
the Administrative Agent determines that the relevant asset is material and the
relevant obligor determines that such endeavors will not jeopardize commercial

 1.1A-1
 

relationships with
third parties, the relevant member of the Group will use reasonable endeavors
to obtain any necessary consent or waiver;

6.             members of the Group
will not be required to give guarantees or enter into security documents if it
is not within the legal capacity of the relevant members of the Group or if, in
the reasonable opinion of the directors of the relevant members of the Group,
the same would conflict with the fiduciary duties of those directors or
contravene any legal prohibition or result in personal or criminal liability on
the part of any officer or result in any significant risk of legal liability
for the directors of any Group; provided, that the relevant Group member
must use reasonable endeavours to overcome any such obstacle; and

7.             the giving of a
guaranty, the granting of security or the terms or extent of such security
should not be such that they materially restrict the running of the business of
or materially adversely affect the Tax arrangements of any relevant member of
the Group or its affiliates (including the creation, pursuant to the Internal
Revenue Code, of a potential Section 956 material deemed dividend) in the
ordinary course; and

8.             pledges over the
assets owned by joint venture vehicles will not be required.

A.            TERMS OF COLLATERAL
DOCUMENTS

The following
principles will be reflected in the terms of any security taken as part of this
transaction:

1.             security will not be
enforceable until an Event of Default has occurred and notice of acceleration
has been given by the Administrative Agent;

2.             notification of
pledges over bank accounts will be given to the bank holding the account
provided that this is not inconsistent with the Group retaining control over
the balance of the account;

3.             notification of
receivables security to debtors will only be given if an Event of Default has
occurred and notice of acceleration has been given by the Administrative Agent;

4.             notification of
security over insurance policies will not be served on any insurer of Group
assets until such time as an Event of Default has occurred and notice of
acceleration has been given by the Administrative Agent;

5.             the Collateral
Documents should only operate to create security rather than to impose new
commercial obligations.  Accordingly,
they will not contain additional representations or undertakings (such as in
respect of insurance, further security, information or the payment of costs)
unless these are the same as or consistent with those contained in this
Agreement or relate to the creation or perfection of the security and are
market standard in the relevant jurisdiction;

 1.1A-2
 

6.             in respect of share
pledges, until an Event of Default has occurred and notice of acceleration has
been given by the Administrative Agent, the pledgors should be permitted to
retain and to exercise voting rights to any shares pledged by them in a manner
which does not adversely affect the validity or enforceability of the security
or cause an Event of Default to occur and the pledgors should be permitted to
receive and retain dividends on pledged shares/pay dividends upstream on
pledged shares to the extent permitted under the Facilities with the proceeds
to be available to the Group;

7.             the Administrative
Agent should only be able to exercise any power or attorney granted to it under
the Collateral Documents following the occurrence of an Event of Default in
respect of which notice of acceleration has been given by the Administrative
Agent or failure to comply with a further assurance or perfection obligation;

8.             the Collateral
Documents should not operate so as to prevent transactions which are permitted
under the Facilities or to require additional consents or authorizations;

9.             the Collateral
Documents will permit disposals of assets where such disposal is permitted
under this Agreement and will include assurances for the security agent to do
all things reasonably requested to release security in respect of the assets
the subject of such disposal; and

10.           the Collateral
Documents will not accrue interest on any amount in respect of which interest
is accruing under this Agreement.

B.            GUARANTEES/SECURITY

1.             Subject to the due
execution of all relevant Collateral Documents, completion of relevant
perfection formalities within statutorily prescribed time limits, payment of
all registration fees and documentary Tax, any other rights arising by
operation of law, obtaining any relevant foreign legal opinions and subject to
any qualifications which may be set out in this Agreement and any relevant
legal opinions obtained and subject to the requirements of the Security
Principles, it is further acknowledged that pursuant to each Collateral
Document the Collateral Agent, shall:

(a)           receive the benefit of
an upstream, cross-stream and downstream guarantee and the security will be
granted to secure all liabilities of the obligors under the Credit Documents in
accordance with the Security Principles;

(b)           (in the case of those
Collateral Documents creating pledges or charges over shares in an obligor)
obtain a first priority valid charge or analogous or equivalent encumbrance
over all of the shares in issue at any time in that obligor which are owned by
another obligor.  Such Collateral
Document shall be governed by the laws of the jurisdiction in which such
obligor whose shares are being pledged is formed; and

 1.1A-3
 

(c)           not require that any
costs, fee, Tax or other amounts payable in connection with any re-taking,
novation or re-registration of any security in connection with an assignment or
transfer by any lender be for the account of the Group; provided that
the Administrative Agent and the Borrowers shall discuss in good faith the possibility
to mitigate any such costs, fee, Tax or other amounts.

2.             In the case of
guarantees and security to be granted and created by the Guarantors in the
Netherlands, such guarantees and security shall be provided as soon as
reasonably practicable and in any event within 90 days after the Closing Date
(except with respect to the unconditional neutral or positive advice of the
works council of any Credit Party organized in the Netherlands, which such
Credit Party shall use its commercially reasonable efforts to obtain as soon as
practicable after the Closing Date but not subject to the 90 day period) but in
any event within any period required by law for the valid perfection of the
relevant security interest without giving rise to any further period during
which such security interest is voidable as a result of delay in its creation
or perfection following the funding of Loans; provided, that, to the
extent that any such entity is required by applicable law, as a condition to
the granting of a guaranty or security, to receive a confirmation from its
auditors that, after giving effect to the obligations assumed by it, it will be
able to meet its financial obligations as they fall due (or any functionally
equivalent confirmation), the relevant guarantee or security shall be granted
(to the extent permitted by law or regulation) as promptly as reasonably
practicable but in no event more than 90 days after the Closing Date.

3.             If an obligor owns
shares in a member of the Group that is not an obligor and is not incorporated
in a Security Jurisdiction, no steps shall be taken to create or perfect
security over those shares.

 1.1A-4

SCHEDULE 1.1B

MANDATORY COST FORMULAE

1.                                 The Mandatory
Cost is an addition to the interest rate to compensate Lenders for the cost of
compliance with (a) the requirements of the Bank of England and/or the
Financial Services Authority (or, in either case, any other authority which
replaces all or any of its functions) or (b) the requirements of the European
Central Bank.

2.                                 On the first day
of each Interest Period (or as soon as possible thereafter) the Administrative
Agent shall calculate, as a percentage rate, a rate (the “Additional
Cost Rate”) for each Lender, in accordance with the paragraphs set
out below.  The Mandatory Cost will be
calculated by the Administrative Agent as a weighted average of the Lenders’
Additional Cost Rates (weighted in proportion to the percentage participation
of each Lender in the relevant Loan) and will be expressed as a percentage rate
per annum.

3.                                 The Additional
Cost Rate for any Lender lending from a Facility Office in a Participating
Member State will be the percentage notified by that Lender to the
Administrative Agent.  This percentage
will be certified by that Lender in its notice to the Administrative Agent to
be its reasonable determination of the cost (expressed as a percentage of that
Lender’s participation in all Loans made from that Facility Office) of
complying with the minimum reserve requirements of the European Central Bank in
respect of loans made from that Facility Office.

4.                                 The Additional
Cost Rate for any Lender lending from a Facility Office in the United Kingdom
will be calculated by the Administrative Agent as follows:

(a)                                      in relation to a Loan in any currency other than sterling:

E
x 0.01 per cent. per annum.

   300

Where: E is designed
to compensate Lenders for amounts payable under the Fees Rules and is
calculated by the Administrative Agent as being the average of the most recent
rates of charge supplied by the Reference Banks to the Administrative Agent
pursuant to paragraph 7 below and expressed in pounds per £1,000,000.

5.                                 For the purposes
of this Schedule:

(a)                                      “Special Deposits”
have the meanings given to them from time to time under or pursuant to the Bank
of England Act 1998 or (as may be appropriate) by the Bank of England;

 1.1B-1
 

(b)                                     “Fees Rules” means the rules on periodic
fees contained in the FSA Supervision Manual or such other law or regulation as
may be in force from time to time in respect of the payment of fees for the
acceptance of deposits;

(c)                                      “Fee Tariffs” means the fee
tariffs specified in the Fees Rules under the activity group A.1 Deposit
acceptors (ignoring any minimum fee or zero rated fee required pursuant to the
Fees Rules but taking into account any applicable discount rate); and

(d)                                     “Tariff Base” has the meaning
given to it in, and will be calculated in accordance with, the Fees Rules.

6.                                 If requested by
the Administrative Agent, each Reference Bank shall, as soon as practicable
after publication by the Financial Services Authority, supply to the
Administrative Agent, the rate of charge payable by that Reference Bank to the
Financial Services Authority pursuant to the Fees Rules in respect of the
relevant financial year of the Financial Services Authority (calculated for
this purpose by that Reference Bank as being the average of the Fee Tariffs
applicable to that Reference Bank for that financial year) and expressed in
pounds per £1,000,000 of the Tariff Base of that Reference Bank.

7.                                 Each Lender shall
supply any information required by the Administrative Agent for the purpose of
calculating its Additional Cost Rate.  In
particular, but without limitation, each Lender shall supply the following
information on or prior to the date on which it becomes a Lender:

the jurisdiction of its Facility Office; and

(e)                                      any other information that the Administrative Agent may reasonably
require for such purpose.

Each Lender
shall promptly notify the Administrative Agent of any change to the information
provided by it pursuant to this paragraph.

8.                                 The rates of
charge of each Reference Bank for the purpose of E above shall be determined by
the Administrative Agent based upon the information supplied to it pursuant to
paragraphs 7 and 8 above and on the assumption that, unless a Lender notifies
the Administrative Agent to the contrary, each Lender’s obligations in relation
to cash ratio deposits and Special Deposits are the same as those of a typical
bank from its jurisdiction of incorporation with a Facility Office in the same
jurisdiction as its Facility Office.

 1.1B-2
 

9.                                 The
Administrative Agent shall have no liability to any person if such
determination results in an Additional Cost Rate which over or under
compensates any Lender and shall be entitled to assume that the information
provided by any Lender or Reference Bank pursuant to paragraphs 3, 6 and 7
above is true and correct in all respects.

10.                           The
Administrative Agent shall distribute the additional amounts received as a
result of the Mandatory Cost to the Lenders on the basis of the Additional Cost
Rate for each Lender based on the information provided by each Lender and each
Reference Bank pursuant to paragraphs 3, 6 and 7 above.

11.                           Any determination
by the Administrative Agent pursuant to
this Schedule in relation to a formula, the Mandatory Cost, an Additional Cost
Rate or any amount payable to a Lender shall, in the absence of manifest error,
be conclusive and binding on all Parties.

The
Administrative Agent may from time to time, after consultation with Holdings
and the Lenders, determine and notify to all Parties any amendments which are
required to be made to this Schedule in order to comply with any change in law,
regulation or any requirements from time to time imposed by the Bank of
England, the Financial Services Authority or the European Central Bank (or, in
any case, any other authority which replaces all or any of its functions) and any
such determination shall, in the absence of manifest error, be conclusive and
binding on all Parties.

 1.1B-3

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