Document:

<PAGE>
                                                                    EXHIBIT 10.1

                                                                  EXECUTION COPY

                               U.S. $2,450,000,000

                            364-DAY CREDIT AGREEMENT

                            Dated as of May 28, 2004

                                      Among

                            THE LUBRIZOL CORPORATION

                                   as Borrower

                                       and

                        THE INITIAL LENDERS NAMED HEREIN

                               as Initial Lenders

                          KEY BANK NATIONAL ASSOCIATION

                                       and

                               ABN AMRO BANK N.V.

                              as Syndication Agents

                       WACHOVIA CAPITAL INVESTMENTS, INC.

                             as Documentation Agent

                                       and

                          CITICORP NORTH AMERICA, INC.

                                    as Agent

                          CITIGROUP GLOBAL MARKETS INC.

                        as Lead Arranger and Book Manager

<PAGE>

                                TABLE OF CONTENTS
<TABLE>
<S>                                                                                                              <C>
ARTICLE I

           SECTION 1.01.  Certain Defined Terms                                                                   1

           SECTION 1.02.  Computation of Time Periods                                                            11

           SECTION 1.03.  Accounting Terms                                                                       11

ARTICLE II

           SECTION 2.01.  The Advances                                                                           11

           SECTION 2.02.  Making the Advances                                                                    12

           SECTION 2.03.  Fees                                                                                   12

           SECTION 2.04.  Termination or Reduction of the Commitments                                            13

           SECTION 2.05.  Repayment of Advances                                                                  13

           SECTION 2.06.  Interest on Advances                                                                   13

           SECTION 2.07.  Interest Rate Determination                                                            14

           SECTION 2.08.  Optional Conversion of Advances                                                        14

           SECTION 2.09.  Prepayments of Advances                                                                15

           SECTION 2.10.  Increased Costs                                                                        15

           SECTION 2.11.  Illegality                                                                             16

           SECTION 2.12.  Payments and Computations                                                              16

           SECTION 2.13.  Taxes                                                                                  17

           SECTION 2.14.  Sharing of Payments, Etc.                                                              18

           SECTION 2.15.  Evidence of Debt                                                                       18

           SECTION 2.16.  Use of Proceeds                                                                        19

ARTICLE III

           SECTION 3.01.  Conditions Precedent to Effectiveness of Section 2.01                                  19

           SECTION 3.02.  Conditions Precedent to the Initial Borrowing of Each Designated Subsidiary            21
</TABLE>

<PAGE>

<TABLE>
<S>                                                                                                              <C>
           SECTION 3.03.  Conditions Precedent to Each Borrowing.                                                21

           SECTION 3.04.  Determinations Under Section 3.01                                                      22

ARTICLE IV

           SECTION 4.01.  Representations and Warranties of the Company                                          22

ARTICLE V

           SECTION 5.01.  Affirmative Covenants                                                                  24

           SECTION 5.02.  Negative Covenants                                                                     25

           SECTION 5.03.  Financial Covenants                                                                    30

ARTICLE VI

           SECTION 6.01.  Events of Default                                                                      30

ARTICLE VII

           SECTION 7.01.  Guaranty                                                                               32

           SECTION 7.02.  Guaranty Absolute                                                                      32

           SECTION 7.03.  Waivers and Acknowledgments                                                            33

           SECTION 7.04.  Subrogation                                                                            33

           SECTION 7.05.  Subordination                                                                          34

           SECTION 7.06.  Continuing Guaranty; Assignments                                                       34

ARTICLE VIII

           SECTION 8.01.  Authorization and Action                                                               35

           SECTION 8.02.  Agent's Reliance, Etc.                                                                 35

           SECTION 8.03.  Citicorp and Affiliates                                                                35

           SECTION 8.04.  Lender Credit Decision                                                                 35

           SECTION 8.05.  Indemnification                                                                        36

           SECTION 8.06.  Successor Agent                                                                        36

           SECTION 8.07.  Sub-Agent                                                                              36
</TABLE>

                                       ii
<PAGE>

<TABLE>
<S>                                                                                                              <C>
           SECTION 8.08.  Other Agents.                                                                          36

ARTICLE IX

           SECTION 9.01.  Amendments, Etc.                                                                       36

           SECTION 9.02.  Notices, Etc.                                                                          37

           SECTION 9.03.  No Waiver; Remedies                                                                    38

           SECTION 9.04.  Costs and Expenses                                                                     38

           SECTION 9.05.  Right of Set-off                                                                       39

           SECTION 9.06.  Binding Effect                                                                         39

           SECTION 9.07.  Assignments and Participations                                                         39

           SECTION 9.08.  Confidentiality                                                                        41

           SECTION 9.09.  Governing Law                                                                          42

           SECTION 9.10.  Execution in Counterparts                                                              42

           SECTION 9.11.  Jurisdiction, Etc.                                                                     42

           SECTION 9.12.  Designated Subsidiaries                                                                42

           SECTION 9.13.  Waiver of Jury Trial                                                                    2
</TABLE>

                                       iii

<PAGE>

Schedules

Schedule I - List of Applicable Lending Offices

Schedule 3.01(b) - Disclosed Litigation

Schedule 5.02(a) - Existing Liens

Schedule 5.02(c) - Existing Debt

Exhibits

Exhibit A   -  Form of Note

Exhibit B   -  Form of Notice of Borrowing

Exhibit C   -  Form of Assignment and Acceptance

Exhibit D   -  Form of Opinion of Counsel for the Company

Exhibit E   -  Form of Designation Letter

                                       iv
<PAGE>

                            364-DAY CREDIT AGREEMENT

                            Dated as of May 28, 2004

      THE LUBRIZOL CORPORATION, an Ohio corporation (the "Company"), the banks,
financial institutions and other institutional lenders (the "Initial Lenders")
listed on the signature pages hereof, CITIGROUP GLOBAL MARKETS INC., as sole
lead arranger, and CITICORP NORTH AMERICA, INC. ("Citicorp"), as administrative
agent (the "Agent") for the Lenders, agree as follows:

PRELIMINARY STATEMENTS:

      1.    Pursuant to the Agreement and Plan of Merger dated April 15, 2004
(as amended, the "Merger Agreement") the Company has agreed to acquire Noveon
International Inc. (the "Target") by the consummation of a merger of Lubrizol
Acquisition Corporation, a Delaware corporation and direct or indirect
subsidiary of the Company, with the Target, pursuant to which the Target will
become a wholly-owned Subsidiary of the Company (the "Acquisition").

      2.    The Company has requested that, concurrently with the consummation
of the Acquisition, the Lenders lend to the Company up to $2,450,000,000 to pay
the cash consideration required to consummate the Acquisition, pay transaction
fees and expenses, refinance certain existing Debt (as hereinafter defined) of
the Company and the Target and that, from time to time, the Lenders lend to the
Borrowers to provide working capital for the Company and its Subsidiaries. The
Lenders have indicated their willingness to agree to lend such amounts on the
terms and conditions of this Agreement.

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

                                    ARTICLE I

                        DEFINITIONS AND ACCOUNTING TERMS

      SECTION 1.01. Certain Defined Terms. As used in this Agreement, the
following terms shall have the following meanings (such meanings to be equally
applicable to both the singular and plural forms of the terms defined):

            "Acquisition" has the meaning specified in the Preliminary
      Statements.

            "Advance" means an advance by a Lender to any Borrower as part of a
      Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Advance.

            "Affiliate" means, as to any Person, any other Person that, directly
      or indirectly, controls, is controlled by or is under common control with
      such Person or is a director or officer of such Person. For purposes of
      this definition, the term "control" (including the terms "controlling",
      "controlled by" and "under common control with") of a Person means the
      possession, direct or indirect, of the power to vote 5% or more of the
      Voting Stock of such Person or to direct or cause the direction of the
      management and policies of such Person, whether through the ownership of
      Voting Stock, by contract or otherwise.

            "Agent's Account" means the account of the Agent maintained by the
      Agent at Citibank at its office at 399 Park Avenue, New York, New York
      10043, Account No. 36852248, Attention: Bank Loan Syndications.

<PAGE>

            "Applicable Lending Office" means, with respect to each Lender, such
      Lender's Domestic Lending Office in the case of a Base Rate Advance and
      such Lender's Eurodollar Lending Office in the case of a Eurodollar Rate
      Advance.

            "Applicable Margin" means, as of any date, a percentage per annum
      determined and calculated by reference to the Public Debt Rating in effect
      on such date as set forth below:

<TABLE>
<CAPTION>
Public Debt Rating   Applicable Margin for    Applicable Margin for
   S&P/Moody's         Base Rate Advances    Eurodollar Rate Advances
------------------   ---------------------   ------------------------
<S>                  <C>                     <C>
Level 1
A- or A3 or above            0.000%                   0.400%

Level 2
BBB+ or Baa1                 0.000%                   0.500%

Level 3
BBB or Baa2                  0.000%                   0.850%

Level 4
BBB- and Baa3                0.000%                   0.925%

Level 5
BBB- or Baa3                 0.000%                   1.050%

Level 6
BB+ or Ba1                   0.200%                   1.200%

Level 7
BB or Ba2                    0.600%                   1.600%

Level 8
BB- or Ba3                   1.250%                   2.250%

Level 9
Lower than Level 8           2.000%                   3.000%
</TABLE>

            "Applicable Percentage" means, as of any date, a percentage per
      annum determined and calculated by reference to the Public Debt Rating in
      effect on such date as set forth below:

<TABLE>
<CAPTION>
Public Debt Rating     Applicable
   S&P/Moody's         Percentage
------------------     ----------
<S>                    <C>
 Level 1
 A- or A3 or above      0.100%

 Level 2
 BBB+ or Baa1           0.125%

 Level 3
 BBB or Baa2            0.150%

 Level 4
 BBB- and Baa3          0.200%

 Level 5
 BBB- or Baa3           0.200%

 Level 6
 BB+ or Ba1             0.300%

 Level 7
 BB or Ba2              0.400%

 Level 8
 BB- or Ba3             0.500%

 Level 9
 Lower than Level 8     0.500%
</TABLE>

                                       2

<PAGE>

            "Assignment and Acceptance" means an assignment and acceptance
      entered into by a Lender and an Eligible Assignee, and accepted by the
      Agent, in substantially the form of Exhibit C hereto.

            "Base Rate" means a fluctuating interest rate per annum in effect
      from time to time, which rate per annum shall at all times be equal to the
      highest of:

                  (a) the rate of interest announced publicly by Citibank in New
            York, New York, from time to time, as Citibank's base rate;

                  (b) the sum (adjusted to the nearest 1/4 of 1% or, if there is
            no nearest 1/4 of 1%, to the next higher 1/4 of 1%) of (i) 1/2 of
            1% per annum, plus (ii) the rate obtained by dividing (A) the latest
            three-week moving average of secondary market morning offering rates
            in the United States for three-month certificates of deposit of
            major United States money market banks, such three-week moving
            average (adjusted to the basis of a year of 360 days) being
            determined weekly on each Monday (or, if such day is not a Business
            Day, on the next succeeding Business Day) for the three-week period
            ending on the previous Friday by Citibank on the basis of such rates
            reported by certificate of deposit dealers to and published by the
            Federal Reserve Bank of New York or, if such publication shall be
            suspended or terminated, on the basis of quotations for such rates
            received by Citibank from three New York certificate of deposit
            dealers of recognized standing selected by Citibank in the sound
            exercise of its commercially reasonable determination, by (B) a
            percentage equal to 100% minus the average of the daily percentages
            specified during such three-week period by the Board of Governors of
            the Federal Reserve System (or any successor) for determining the
            maximum reserve requirement (including, but not limited to, any
            emergency, supplemental or other marginal reserve requirement) for
            Citibank with respect to liabilities consisting of or including
            (among other liabilities) three-month U.S. dollar non-personal time
            deposits in the United States, plus (iii) the average during such
            three-week period of the annual assessment rates estimated by
            Citibank for determining the then current annual assessment payable
            by Citibank to the Federal Deposit Insurance Corporation (or any
            successor) for insuring U.S. dollar deposits of Citibank in the
            United States; or

                  (c) 1/2 of one percent per annum above the Federal Funds Rate.

                  "Base Rate Advance" means an Advance that bears interest as
            provided in Section 2.06(a)(i).

                  "Borrowers" means, collectively, the Company and each
            Designated Subsidiary that shall become a Borrower hereunder
            pursuant to Section 9.12.

                  "Borrowing" means a borrowing consisting of simultaneous
            Advances of the same Type made by each of the Lenders pursuant to
            Section 2.01.

                  "Borrowing Minimum" means $10,000,000.

                  "Borrowing Multiple" means $1,000,000.

                  "Business Day" means a day of the year on which banks are not
            required or authorized by law to close in New York City and, if the
            applicable Business Day relates to any Eurodollar Rate Advances, on
            which dealings are carried on in the London interbank market.

                  "Citibank" means Citibank, N.A.

                                       3

<PAGE>

                  "Closing Date" means the date of this Agreement.

                  "Commitment" means as to any Lender (a) the amount set forth
            opposite such Lender's name on the signature pages hereof or (b) if
            such Lender has entered into any Assignment and Acceptance, the
            amount set forth for such Lender in the Register maintained by the
            Agent pursuant to Section 9.07(d).

                  "Confidential Information" means information that the Company
            furnishes to the Agent or any Lender in a writing designated as
            confidential, but does not include any such information that is
            generally available to the public or that is available to the Agent
            or such Lender on a non-confidential basis from a source other than
            the Company that is, to the knowledge of the Agent or such Lender,
            not acting in breach of any confidentiality agreement.

                  "Consolidated" refers to the consolidation of accounts in
            accordance with GAAP.

                  "Consolidated EBITDA" means, for any period, (a) Consolidated
            net income, plus (b) to the extent deducted in determining such
            Consolidated net income, the sum of, on a Consolidated basis and
            without duplication: (i) interest expense, (ii) income tax expense,
            (iii) depreciation expense, (iv) amortization expense, (v) depletion
            expense, (vi) extraordinary, unusual or non-recurring non-cash
            losses, including goodwill expense and non-cash losses from the
            sale, exchange, transfer or other disposition of property of the
            Company or its Subsidiaries and the related tax effects in
            accordance with GAAP, (vii) extraordinary, unusual or non-recurring
            cash losses, expenses or charges incurred or paid in calendar years
            2003 or 2004, and all fees and expenses incurred in connection with
            any acquisition consummated in calendar years 2003 or 2004
            (including the acquisition of Noveon International Inc. ), minus (c)
            to the extent included in determining such Consolidated net income,
            the sum of, on a Consolidated basis and without duplication: (i) the
            income of any Person (other than a wholly-owned Subsidiary of the
            Company) in which any Person other than the Company or any of its
            Subsidiaries has a joint interest or a partnership interest or other
            ownership interest, except to the extent of the amount of dividends
            or other distributions actually paid to the Company or any of its
            Subsidiaries by such Person during such period, (ii) gains from the
            sale, exchange, transfer or other disposition of property or assets
            of the Company and its Subsidiaries (other than inventory sold in
            the ordinary course of business), and related tax effects in
            accordance with GAAP, (iii) any other extraordinary, unusual or
            non-recurring gains or other income not from the continuing
            operations of the Company and its Subsidiaries, and related tax
            effects in accordance with GAAP and (iv) the income of any
            Subsidiary of the Company to the extent that the declaration or
            payment of dividends or similar distributions by that Subsidiary of
            that income is not at the time permitted by operation of the terms
            of its charter or any agreement, instrument, judgment, decree,
            order, statute, rule or governmental regulation applicable to that
            Subsidiary. For the purpose of calculating Consolidated EBITDA for
            any period, if during such period the Company or any Subsidiary
            shall have made an acquisition of any Person, Consolidated EBITDA
            for such period shall be calculated after giving pro forma effect
            thereto as if such acquisition occurred on the first day of such
            period.

                  "Consolidated Tangible Net Worth" means, as at any date, the
            amount by which the sum of (a) the par value (or value stated on the
            books of the Company) of the capital stock of all classes of the
            Company, and (b) the amount of the Consolidated surplus, capital or
            earned, but excluding accumulated foreign exchange translation
            adjustments, of the Company and its Subsidiaries, exceeds the sum of
            (i) the amount of any write-up in the book value of any assets
            resulting from the revaluation thereof or any write-up in excess of
            the cost of assets acquired, and (ii) the aggregate of all amounts
            appearing on the asset side of the balance sheet for goodwill,
            patents, patent rights, trademarks, trade names, copyrights,
            franchises, treasury stock, organizational expenses, and other
            similar items, if any, of the Company and its Subsidiaries, all
            determined in accordance with GAAP.

                  "Convert", "Conversion" and "Converted" each refers to a
            conversion of Advances of one Type into Advances of the other Type
            pursuant to Section 2.07 or 2.08.

                                       4

<PAGE>

                  "Debt" of any Person means, without duplication, (a) all
            indebtedness of such Person for borrowed money, (b) all obligations
            of such Person for the deferred purchase price of property or
            services (other than trade payables not overdue by more than 120
            days incurred in the ordinary course of such Person's business;
            provided that trade payables which are overdue by more than 120 days
            shall not be included so long as payment of such is being contested
            in good faith and by proper proceedings), (c) all obligations of
            such Person evidenced by notes, bonds, debentures or other similar
            instruments, (d) all obligations of such Person created or arising
            under any conditional sale or other title retention agreement with
            respect to property acquired by such Person (even though the rights
            and remedies of the seller or lender under such agreement in the
            event of default are limited to repossession or sale of such
            property), (e) all obligations of such Person as lessee under leases
            that have been or should be, in accordance with GAAP, recorded as
            capital leases, (f) all obligations, contingent or otherwise, of
            such Person in respect of acceptances, letters of credit or similar
            extensions of credit, (g) all Invested Amounts, (h) all Debt of
            others referred to in clauses (a) through (g) above or clause (i)
            below and other payment obligations guaranteed directly or
            indirectly in any manner by such Person, or in effect guaranteed
            directly or indirectly by such Person ("Guaranteed Debt") through an
            agreement (1) to pay or purchase such Guaranteed Debt or to advance
            or supply funds for the payment or purchase of such Guaranteed Debt,
            (2) to purchase, sell or lease (as lessee or lessor) property, or to
            purchase or sell services, primarily for the purpose of enabling the
            debtor to make payment of such Guaranteed Debt or to assure the
            holder of such Guaranteed Debt against loss, (3) to supply funds to
            or in any other manner invest in the debtor (including any agreement
            to pay for property or services irrespective of whether such
            property is received or such services are rendered) or (4) otherwise
            to assure a creditor against loss, and (i) all Debt referred to in
            clauses (a) through (h) above secured by (or for which the holder of
            such Debt has an existing right, contingent or otherwise, to be
            secured by) any Lien on property (including, without limitation,
            accounts and contract rights) owned by such Person, even though such
            Person has not assumed or become liable for the payment of such
            Debt; provided, that Debt shall not include transactions in the
            ordinary course of business by the Company or its directly or
            indirectly held Subsidiaries with customers and vendors in the form
            of (x) commitments to lend or loans to customers that are repayable
            either over an agreed period of time or at the time of purchases by
            the customers of products of the Company or its Subsidiaries and (y)
            advances made to vendors that are treated either repayable over a
            period of time or as advance payments for products to be purchased
            by the Company or its Subsidiaries from the vendor.

                  "Default" means any Event of Default or any event that would
            constitute an Event of Default but for the requirement that notice
            be given or time elapse or both.

                  "Designated Subsidiary" means any Subsidiary organized within
            the United States, directly or indirectly wholly-owned by the
            Company and designated after the date of this Agreement for
            borrowing privileges hereunder pursuant to Section 9.12.

                  "Designation Letter" means a letter entered into by a
            Designated Subsidiary, the Company and the Agent, in substantially
            the form of Exhibit E hereto, pursuant to which such Designated
            Subsidiary shall become a Borrower hereunder in accordance with
            Section 9.12.

                  "Disclosed Litigation" has the meaning specified in Section
            3.01(b).

                  "Domestic Lending Office" means, with respect to any Lender,
            the office of such Lender specified as its "Domestic Lending Office"
            opposite its name on Schedule I hereto or in the Assignment and
            Acceptance pursuant to which it became a Lender, or such other
            office of such Lender as such Lender may from time to time specify
            to the Borrowers and the Agent.

                  "Effective Date" has the meaning specified in Section 3.01.

                  "Eligible Assignee" means (i) a Lender; (ii) an Affiliate of a
            Lender; and (iii) any other Person (unless such Person is taking
            delivery of an assignment in connection with physical settlement of
            a credit derivative transaction) approved by the Agent and, unless
            an Event of Default has occurred and is

                                       5

<PAGE>

            continuing at the time any assignment is effected in accordance with
            Section 9.07, the Company, such approval not to be unreasonably
            withheld or delayed; provided, however, that neither the Company nor
            an Affiliate of the Company shall qualify as an Eligible Assignee.

                  "Environmental Action" means any action, suit, demand, demand
            letter, claim, notice of non-compliance or violation, notice of
            liability or potential liability, investigation, proceeding, consent
            order or consent agreement relating in any way to any Environmental
            Law, Environmental Permit or Hazardous Materials or arising from
            alleged injury or threat of injury to health, safety or the
            environment, including, without limitation, (a) by any governmental
            or regulatory authority for enforcement, cleanup, removal, response,
            remedial or other actions or damages, and (b) by any governmental or
            regulatory authority or any third party for damages, contribution,
            indemnification, cost recovery, compensation or injunctive relief.

                  "Environmental Law" means any federal, state, local or foreign
            statute, law, ordinance, rule, regulation, code, order, judgment,
            decree or judicial or agency interpretation, policy or guidance
            relating to pollution or protection of the environment, health,
            safety or natural resources, including, without limitation, those
            relating to the use, handling, transportation, treatment, storage,
            disposal, release or discharge of Hazardous Materials.

                  "Environmental Permit" means any permit, approval,
            identification number, license or other authorization required under
            any Environmental Law.

                  "ERISA" means the Employee Retirement Income Security Act of
            1974, as amended from time to time, and the regulations promulgated
            and rulings issued thereunder.

                  "ERISA Affiliate" means any Person that for purposes of Title
            IV of ERISA is a member of the Company's controlled group, or under
            common control with the Company, within the meaning of Section 414
            of the Internal Revenue Code.

                  "ERISA Event" means (a) (i) the occurrence of a reportable
            event, within the meaning of Section 4043 of ERISA, with respect to
            any Plan unless the 30-day notice requirement with respect to such
            event has been waived by the PBGC, or (ii) the requirements of
            subsection (1) of Section 4043(b) of ERISA (without regard to
            subsection (2) of such Section) are met with respect to a
            contributing sponsor, as defined in Section 4001(a)(13) of ERISA, of
            a Plan, and an event described in paragraph (9), (10), (11), (12) or
            (13) of Section 4043(c) of ERISA is reasonably expected to occur
            with respect to such Plan within the following 30 days; (b) the
            application for a minimum funding waiver with respect to a Plan; (c)
            the provision by the administrator of any Plan of a notice of intent
            to terminate such Plan pursuant to Section 4041(a)(2) of ERISA
            (including any such notice with respect to a plan amendment referred
            to in Section 4041(e) of ERISA); (d) the cessation of operations at
            a facility of the Company or any ERISA Affiliate in the
            circumstances described in Section 4062(e) of ERISA; (e) the
            withdrawal by the Company or any ERISA Affiliate from a Multiple
            Employer Plan during a plan year for which it was a substantial
            employer, as defined in Section 4001(a)(2) of ERISA; (f) the
            conditions for the imposition of a lien under Section 302(f) of
            ERISA shall have been met with respect to any Plan; (g) the adoption
            of an amendment to a Plan requiring the provision of security to
            such Plan pursuant to Section 307 of ERISA; or (h) the institution
            by the PBGC of proceedings to terminate a Plan pursuant to Section
            4042 of ERISA, or the occurrence of any event or condition described
            in Section 4042 of ERISA that constitutes grounds for the
            termination of, or the appointment of a trustee to administer, a
            Plan.

                  "Eurocurrency Liabilities" has the meaning assigned to that
            term in Regulation D of the Board of Governors of the Federal
            Reserve System, as in effect from time to time.

                  "Eurodollar Lending Office" means, with respect to any Lender,
            the office of such Lender specified as its "Eurodollar Lending
            Office" opposite its name on Schedule I hereto or in the Assignment
            and Acceptance pursuant to which it became a Lender (or, if no such
            office is specified, its Domestic

                                       6

<PAGE>

            Lending Office), or such other office of such Lender as such Lender
            may from time to time specify to the Borrowers and the Agent.

                  "Eurodollar Rate" means for any Interest Period for each
            Eurodollar Rate Advance comprising part of the same Borrowing, an
            interest rate per annum equal to the rate per annum obtained by
            dividing (a) the rate per annum (rounded upward to the nearest whole
            multiple of 1/16 of 1% per annum) appearing on Telerate Markets Page
            3750 (or any successor page) as the London interbank offered rate
            for deposits in U.S. dollars at approximately 11:00 A.M. (London
            time) two Business Days prior to the first day of such Interest
            Period for a term comparable to such Interest Period or, if for any
            reason such rate is not available, the average (rounded upward to
            the nearest whole multiple of 1/16 of 1% per annum, if such average
            is not such a multiple) of the rate per annum at which deposits in
            U.S. dollars is offered by the principal office of each of the
            Reference Banks in London, England to prime banks in the London
            interbank market at 11:00 A.M. (London time) two Business Days
            before the first day of such Interest Period in an amount
            substantially equal to such Reference Bank's Eurodollar Rate Advance
            comprising part of such Borrowing to be outstanding during such
            Interest Period and for a period equal to such Interest Period by
            (b) a percentage equal to 100% minus the Eurodollar Rate Reserve
            Percentage for such Interest Period. If the Telerate Markets Page
            3750 (or any successor page), is unavailable, the Eurodollar Rate
            for any Interest Period for each Eurodollar Rate Advance comprising
            part of the same Borrowing shall be determined by the Agent on the
            basis of applicable rates furnished to and received by the Agent
            from the Reference Banks two Business Days before the first day of
            such Interest Period, subject, however, to the provisions of Section
            2.07.

                  "Eurodollar Rate Advance" means an Advance that bears interest
            as provided in Section 2.06(a)(ii).

                  "Eurodollar Rate Reserve Percentage" for any Interest Period
            for all Eurodollar Rate Advances comprising part of the same
            Borrowing means the reserve percentage applicable two Business Days
            before the first day of such Interest Period under regulations
            issued from time to time by the Board of Governors of the Federal
            Reserve System (or any successor) for determining the maximum
            reserve requirement (including, without limitation, any emergency,
            supplemental or other marginal reserve requirement) for a member
            bank of the Federal Reserve System in New York City with respect to
            liabilities or assets consisting of or including Eurocurrency
            Liabilities (or with respect to any other category of liabilities
            that includes deposits by reference to which the interest rate on
            Eurodollar Rate Advances is determined) having a term equal to such
            Interest Period.

                  "Events of Default" has the meaning specified in Section 6.01.

                  "Federal Funds Rate" means, for any period, a fluctuating
            interest rate per annum equal for each day during such period to the
            weighted average of the rates on overnight Federal funds
            transactions with members of the Federal Reserve System arranged by
            Federal funds brokers, as published for such day (or, if such day is
            not a Business Day, for the next preceding Business Day) by the
            Federal Reserve Bank of New York, or, if such rate is not so
            published for any day that is a Business Day, the average of the
            quotations for such day on such transactions received by the Agent
            from three Federal funds brokers of recognized standing selected by
            it.

                  "GAAP" has the meaning specified in Section 1.03.

                  "Guaranteed Obligations" has the meaning specified in Section
            7.01.

                  "Guaranty" means the guaranty of the Company set forth in
            Article VII.

                  "Hazardous Materials" means (a) petroleum and petroleum
            products, byproducts or breakdown products, radioactive materials,
            asbestos-containing materials, polychlorinated biphenyls and radon
            gas and

                                       7

<PAGE>

            (b) any other chemicals, materials or substances designated,
            classified or regulated as hazardous or toxic or as a pollutant or
            contaminant, under any Environmental Law.

                  "Interest Period" means, for each Eurodollar Rate Advance
            comprising part of the same Borrowing, the period commencing on the
            date of such Eurodollar Rate Advance or the date of the Conversion
            of any Base Rate Advance into such Eurodollar Rate Advance and
            ending on the last day of the period selected by the applicable
            Borrower pursuant to the provisions below and, thereafter, with
            respect to Eurodollar Rate Advances, each subsequent period
            commencing on the last day of the immediately preceding Interest
            Period and ending on the last day of the period selected by such
            Borrower pursuant to the provisions below. The duration of each such
            Interest Period shall be one, two, three or six months, and subject
            to clause (c) of this definition, one week or nine months, as such
            Borrower may, upon notice received by the Agent not later than 11:00
            A.M. (New York City time) on the third Business Day prior to the
            first day of such Interest Period, select; provided, however, that:

                        (a)   such Borrower may not select any Interest Period
                  that ends after the Termination Date;

                        (b)   Interest Periods commencing on the same date for
                  Eurodollar Rate Advances comprising part of the same Borrowing
                  shall be of the same duration;

                        (c)   in the case of any such Borrowing, such Borrower
                  shall not be entitled to select an Interest Period having a
                  duration of one week or nine months unless, by 2:00 P.M. (New
                  York City time) on the third Business Day prior to the first
                  day of such Interest Period, each Lender notifies the Agent
                  that such Lender will be providing funding for such Borrowing
                  with such Interest Period (the failure of any Lender to so
                  respond by such time being deemed for all purposes of this
                  Agreement as an objection by such Lender to the requested
                  duration of such Interest Period); provided that, if any or
                  all of the Lenders object to the requested duration of such
                  Interest Period, the duration of the Interest Period for such
                  Borrowing shall be one, two, three or six months, as specified
                  by the Borrower requesting such Borrowing in the applicable
                  Notice of Borrowing as the desired alternative to an Interest
                  Period of one week or nine months;

                        (d)   whenever the last day of any Interest Period would
                  otherwise occur on a day other than a Business Day, the last
                  day of such Interest Period shall be extended to occur on the
                  next succeeding Business Day, provided, however, that, if such
                  extension would cause the last day of such Interest Period to
                  occur in the next following calendar month, the last day of
                  such Interest Period shall occur on the next preceding
                  Business Day; and

                        (e)   whenever the first day of any Interest Period
                  occurs on a day of an initial calendar month for which there
                  is no numerically corresponding day in the calendar month that
                  succeeds such initial calendar month by the number of months
                  equal to the number of months in such Interest Period, such
                  Interest Period shall end on the last Business Day of such
                  succeeding calendar month.

                  "Internal Revenue Code" means the Internal Revenue Code of
            1986, as amended from time to time, and the regulations promulgated
            and rulings issued thereunder.

                  "Invested Amounts" means the amounts invested by investors
            that are not Affiliates of the Company in connection with a
            receivables securitization program and paid to the Company or any of
            its Subsidiaries, as reduced by the aggregate amounts received by
            such investors from the payment of receivables and applied to reduce
            such invested amounts.

                  "Investment" in any Person means any loan or advance to such
            Person, any purchase or other acquisition of any capital stock,
            warrants, rights, options, obligations or other securities or all or
            substantially all of the assets of such Person, any capital
            contribution to such Person or any other

                                       8

<PAGE>

            investment in such Person, including, without limitation, any
            arrangement pursuant to which the investor incurs Debt of the types
            referred to in clauses (g) and (h) of the definition of "Debt" in
            respect of such Person.

                  "Lenders" means the Initial Lenders and each Person that shall
            become a party hereto pursuant to Section 9.07.

                  "Lien" means any lien, security interest or other charge or
            encumbrance of any kind, including, without limitation, the lien or
            retained security title of a conditional vendor and any security
            interest or mortgage granted in real property.

                  "Marketable Securities" means any of the following, to the
            extent owned by the Company or any of its Subsidiaries free and
            clear of all Liens and having a maturity of not greater than 360
            days from the date of acquisition thereof: (a) readily marketable
            direct obligations of the Government of the United States or any
            agency or instrumentality thereof or obligations unconditionally
            guaranteed by the full faith and credit of the Government of the
            United States, (b) insured certificates of deposit of or time
            deposits with any commercial bank that is a Lender or a member of
            the Federal Reserve System, issues (or the parent of which issues)
            commercial paper rated as described in clause (c), is organized
            under the laws of the United States or any State thereof and has
            combined capital and surplus of at least $1 billion, (c) commercial
            paper in an aggregate amount of no more than $10,000,000 per issuer
            outstanding at any time, issued by any corporation organized under
            the laws of any State of the United States and rated at least
            "Prime-1" (or the then equivalent grade) by Moody's or "A-1" (or the
            then equivalent grade) by S&P, (d) fully collateralized repurchase
            agreements having a term of not more than 30 days and covering
            securities described in subsection (a) above entered into with any
            Lender or bank meeting the qualifications specified in (b) above or
            (e) investments in money market funds substantially all of the
            assets of which are comprised of securities described in subsection
            (a) through (d) above.

                  "Material Adverse Change" means any material adverse change in
            the business, condition (financial or otherwise) or results of
            operations of the Company and its Subsidiaries taken as a whole
            (including the Target and its Subsidiaries after giving effect to
            the Acquisition).

                  "Material Adverse Effect" means a material adverse effect on
            (a) the business, condition (financial or otherwise) or operations
            of the Company and its Subsidiaries taken as a whole (including the
            Target and its Subsidiaries after giving effect to the Acquisition),
            (b) the rights and remedies of the Agent or any Lender under this
            Agreement or any Note or (c) the ability of any Borrower to perform
            its obligations under this Agreement or any Note.

                  "Merger Agreement" has the meaning specified in the
            Preliminary Statements.

                  "Moody's" means Moody's Investors Service, Inc.

                  "Multiemployer Plan" means a multiemployer plan, as defined in
            Section 4001(a)(3) of ERISA, to which the Company or any ERISA
            Affiliate is making or accruing an obligation to make contributions,
            or has within any of the preceding five plan years made or accrued
            an obligation to make contributions.

                  "Multiple Employer Plan" means a single employer plan, as
            defined in Section 4001(a)(15) of ERISA, that (a) is maintained for
            employees of the Company or any ERISA Affiliate and at least one
            Person other than the Company and the ERISA Affiliates or (b) was so
            maintained and in respect of which the Company or any ERISA
            Affiliate could have liability under Section 4064 or 4069 of ERISA
            in the event such plan has been or were to be terminated.

                  "Net Cash Proceeds" means, with respect to any sale, lease,
            transfer or other disposition of any asset or the incurrence or
            issuance of any Debt or the sale or issuance of any equity interests
            (including, without limitation, any capital contribution) by any
            Person, the aggregate amount of cash received from

                                       9

<PAGE>

            time to time (whether as initial consideration or through payment or
            disposition of deferred consideration) by or on behalf of such
            Person in connection with such transaction after deducting therefrom
            only (without duplication) (a) reasonable and customary brokerage
            commissions, underwriting fees and discounts, legal and accounting
            fees, filing fees, finder's fees and other similar fees and
            commissions and (b) the amount of taxes payable in connection with
            or as a result of such transaction and (c) the amount of any Debt
            secured by a Lien on such asset that, by the terms of the agreement
            or instrument governing such Debt, is required to be repaid upon
            such disposition, in each case to the extent, but only to the
            extent, that the amounts so deducted are, at the time of receipt of
            such cash, actually paid to a Person that is not an Affiliate of
            such Person and are properly attributable to such transaction or to
            the asset that is the subject thereof.

                  "Note" means a promissory note of a Borrower payable to any
            Lender, delivered pursuant to a request made under Section 2.15 in
            substantially the form of Exhibit A hereto, evidencing the aggregate
            indebtedness of such Borrower to such Lender resulting from the
            Advances made by such Lender.

                  "Notice of Borrowing" has the meaning specified in Section
            2.02(a).

                  "PBGC" means the Pension Benefit Guaranty Corporation (or any
            successor).

                  "Person" means an individual, partnership, corporation
            (including a business trust), joint stock company, trust,
            unincorporated association, joint venture, limited liability company
            or other entity, or a government or any political subdivision or
            agency thereof.

                  "Plan" means a Single Employer Plan or a Multiple Employer
            Plan.

                  "Public Debt Rating" means, as of any date, the rating that
            has been most recently announced by either S&P or Moody's, as the
            case may be, for any class of non-credit enhanced long-term senior
            unsecured debt issued by the Company or, if either of S&P or Moody's
            has issued more than one such rating, the lowest such rating issued
            by such rating agency. For purposes of the foregoing, (a) if only
            one of S&P and Moody's shall have in effect a Public Debt Rating,
            the Applicable Margin and the Applicable Percentage shall be
            determined by reference to the available rating; (b) if neither S&P
            nor Moody's shall have in effect a Public Debt Rating, the
            Applicable Margin and the Applicable Percentage will be set in
            accordance with Level 9 under the definition of "Applicable Margin"'
            or "Applicable Percentage", as the case may be; (c) if any rating
            established by S&P or Moody's shall be changed, such change shall be
            effective as of the date on which such change is first announced
            publicly by the rating agency making such change; (d) if S&P or
            Moody's shall change the basis on which ratings are established,
            each reference to the Public Debt Rating announced by S&P or
            Moody's, as the case may be, shall refer to the then equivalent
            rating by S&P or Moody's, as the case may be; and (e) if the ratings
            established by S&P and Moody's shall fall within different levels
            above Level 4 or within different levels below Level 4, the
            Applicable Margin and the Applicable Percentage shall be based upon
            the higher rating, unless the lower of such ratings is more than one
            level below the higher of such ratings, in which case the Applicable
            Margin and the Applicable Percentage shall be based upon the level
            that is one level above the lower of such ratings.

                  "Reduction Amount" has the meaning specified in Section
            2.09(b).

                  "Reference Banks" means Citibank and KeyBank.

                  "Register" has the meaning specified in Section 9.07(d).

                  "Required Lenders" means at any time Lenders owed at least 66
            2/3% of the then aggregate unpaid principal amount of the Advances
            owing to Lenders, or, if no such principal amount is then
            outstanding, Lenders having at least 66 2/3% of the Commitments.

                  "S&P" means Standard & Poor's, a division of The McGraw-Hill
            Companies, Inc.

                                       10

<PAGE>

                  "Single Employer Plan" means a single employer plan, as
            defined in Section 4001(a)(15) of ERISA, that (a) is maintained for
            employees of the Company or any ERISA Affiliate and no Person other
            than the Company and the ERISA Affiliates or (b) was so maintained
            and in respect of which the Company or any ERISA Affiliate could
            have liability under Section 4069 of ERISA in the event such plan
            has been or were to be terminated.

                  "Subordinated Obligations" has the meaning specified in
            Section 7.05.

                  "Subsidiary" of any Person means any corporation, partnership,
            joint venture, limited liability company, trust or estate of which
            (or in which) more than 50% of (a) the issued and outstanding
            capital stock having ordinary voting power to elect a majority of
            the Board of Directors of such corporation (irrespective of whether
            at the time capital stock of any other class or classes of such
            corporation shall or might have voting power upon the occurrence of
            any contingency), (b) the interest in the capital or profits of such
            limited liability company, partnership or joint venture or (c) the
            beneficial interest in such trust or estate is at the time directly
            or indirectly owned or controlled by such Person, by such Person and
            one or more of its other Subsidiaries or by one or more of such
            Person's other Subsidiaries.

                  "Target" has the meaning specified in the Preliminary
            Statements.

                  "Termination Date" means the earlier of (a) May 27, 2005 and
            (b) the date of termination in whole of the Commitments pursuant to
            Section 2.04 or 6.01.

                  "Type" refers to the distinction between Base Rate Advances
            and Eurodollar Rate Advances.

                  "Voting Stock" means capital stock issued by a corporation, or
            equivalent interests in any other Person, the holders of which are
            ordinarily, in the absence of contingencies, entitled to vote for
            the election of directors (or persons performing similar functions)
            of such Person, even if the right so to vote has been suspended by
            the happening of such a contingency.

                  SECTION 1.02. Computation of Time Periods. In this Agreement
      in the computation of periods of time from a specified date to a later
      specified date, the word "from" means "from and including" and the words
      "to" and "until" each mean "to but excluding".

                  SECTION 1.03. Accounting Terms. Except as otherwise expressly
      provided herein, all terms of an accounting or financial nature shall be
      construed in accordance with generally accepted accounting principles in
      the United States, as in effect from time to time ("GAAP"); provided that,
      if the Company notifies the Agent that the Company requests an amendment
      to any provision hereof as a result of a change in GAAP or in the
      application thereof on the operation of such provision (or if the Agent
      notifies the Company that the Required Lenders request an amendment to any
      provision hereof for such purpose), regardless of whether any such notice
      is given before or after such change in GAAP or in the application
      thereof, then such provision shall be interpreted on the basis of GAAP in
      effect and applied immediately before such change shall have become
      effective until such notice shall have been withdrawn or such provision
      amended in accordance herewith.

                                   ARTICLE II

                        AMOUNTS AND TERMS OF THE ADVANCES

                  SECTION 2.01. The Advances. Each Lender severally agrees, on
      the terms and conditions hereinafter set forth, to make Advances to the
      Borrowers from time to time on any Business Day during the period from the
      Effective Date until the Termination Date in an aggregate amount not to
      exceed at any time outstanding such Lender's Commitment. Each Borrowing
      shall be in an amount not less than the Borrowing Minimum or a Borrowing
      Multiple in excess thereof and shall consist of Advances of the same Type
      made on the same day by the Lenders ratably according to their respective
      Commitments. Within the limits of each Lender's Commitment, the

                                       11

<PAGE>

      Borrowers may borrow under this Section 2.01, prepay pursuant to Section
      2.09 and reborrow under this Section 2.01.

                  SECTION 2.02. Making the Advances. (a) Each Borrowing shall be
      made on notice, given not later than (x) 11:00 A.M. (New York City time)
      on the third Business Day prior to the date of the proposed Borrowing in
      the case of a Borrowing consisting of Eurodollar Rate Advances or (y)
      11:00 A.M. (New York City time) on the date of the proposed Borrowing in
      the case of a Borrowing consisting of Base Rate Advances, by the
      applicable Borrower to the Agent, which shall give to each Lender prompt
      notice thereof by telecopier or telex. Each such notice of a Borrowing (a
      "Notice of Borrowing") shall be by telephone, confirmed immediately in
      writing, or telecopier or telex in substantially the form of Exhibit B
      hereto, specifying therein the requested (i) date of such Borrowing, (ii)
      Type of Advances comprising such Borrowing, (iii) aggregate amount of such
      Borrowing, and (iv) in the case of a Borrowing consisting of Eurodollar
      Rate Advances, initial Interest Period for each such Advance. Each Lender
      shall, before 1:00 P.M. (New York City time) on the date of such
      Borrowing, make available for the account of its Applicable Lending Office
      to the Agent at the Agent's Account, in same day funds, such Lender's
      ratable portion of such Borrowing. After the Agent's receipt of such funds
      and upon fulfillment of the applicable conditions set forth in Section
      3.03, the Agent shall make such funds available to the Borrower that
      requested such Advance by depositing such funds to such account as such
      Borrower shall specify.

                  (b)   Anything in subsection (a) above to the contrary
      notwithstanding, (i) the Borrowers may not select Eurodollar Rate Advances
      for any Borrowing if the aggregate amount of such Borrowing is less than
      the Borrowing Minimum or if the obligation of the Lenders to make
      Eurodollar Rate Advances shall then be suspended pursuant to Section 2.07
      or 2.11 and (ii) the Eurodollar Rate Advances may not be outstanding as
      part of more than fifteen separate Borrowings.

                  (c)   Each Notice of Borrowing shall be irrevocable and
      binding on the Borrower giving such Notice. In the case of any Borrowing
      that the related Notice of Borrowing specifies is to be comprised of
      Eurodollar Rate Advances, the Borrower giving such Notice shall indemnify
      each Lender against any loss, cost or expense incurred by such Lender as a
      result of any failure to fulfill on or before the date specified in such
      Notice of Borrowing for such Borrowing the applicable conditions set forth
      in Section 3.03, including, without limitation, any loss, cost or expense
      incurred by reason of the liquidation or reemployment of deposits or other
      funds acquired by such Lender to fund the Advance to be made by such
      Lender as part of such Borrowing when such Advance, as a result of such
      failure, is not made on such date.

                  (d)   Unless the Agent shall have received notice from a
      Lender prior to the date of any Borrowing that such Lender, contrary to
      its Commitment, will not make available to the Agent such Lender's ratable
      portion of such Borrowing, the Agent may assume that such Lender has made
      such portion available to the Agent on the date of such Borrowing in
      accordance with subsection (a) of this Section 2.02 and the Agent may, in
      reliance upon such assumption, make available to the applicable Borrower
      on such date a corresponding amount. If and to the extent that such Lender
      shall not have so made such ratable portion available to the Agent, such
      Lender and such Borrower severally agree to repay without duplication to
      the Agent forthwith on demand such corresponding amount together with
      interest thereon, for each day from the date such amount is made available
      to such Borrower until the date such amount is repaid to the Agent, at (i)
      in the case of such Borrower, the interest rate applicable at the time to
      Advances comprising such Borrowing and (ii) in the case of such Lender,
      the Federal Funds Rate. If such Lender shall repay to the Agent such
      corresponding amount, such amount so repaid shall constitute such Lender's
      Advance as part of such Borrowing for purposes of this Agreement.

                  (e)   The failure of any Lender to make the Advance to be made
      by it as part of any Borrowing shall not relieve any other Lender of its
      obligation, if any, hereunder to make its Advance on the date of such
      Borrowing, but no Lender shall be responsible for the failure of any other
      Lender to make the Advance to be made by such other Lender on the date of
      any Borrowing. Nothing herein shall be deemed to prejudice any rights
      which any Borrower may have against a Lender as a result of any default by
      a Lender hereunder.

                  SECTION 2.03. Fees. (a) Facility Fee. The Borrowers agree to
      pay to the Agent for the account of each Lender a facility fee on the
      aggregate amount of such Lender's Commitment from the Effective Date in
      the case of each Initial Lender and from the effective date specified in
      the Assignment and Acceptance pursuant to which it became a Lender in the
      case of each other Lender until the Termination Date at a rate per annum
      equal to

                                       12

<PAGE>

      the Applicable Percentage in effect from time to time, payable in arrears
      quarterly on the last day of each March, June, September and December,
      commencing June 30, 2004, and on the Termination Date.

                  (b)   Participation Fees. The Borrowers agree to pay to the
      Agent for the account of each Lender a participation fee (i) on the date
      that is 180 days after the Closing Date, equal to 0.15% of each Lender's
      Commitment on such date and (ii) on the date that is 270 days after the
      Closing Date, equal to 0.15% of each Lender's Commitment on such date.

                  (c)   Agent's Fees. The Company shall pay to the Agent for its
      own account the fees set forth in the fee letter between the Company and
      the Agent or as may from time to time be otherwise agreed in writing
      between the Company and the Agent.

                  SECTION 2.04. Termination or Reduction of the Commitments. (a)
      Optional. The Company shall have the right, upon at least three Business
      Days' notice to the Agent, to terminate in whole or permanently reduce
      ratably in part the unused portions of the respective Commitments of the
      Lenders, provided that each partial reduction shall be in the aggregate
      amount of $10,000,000 or an integral multiple of $1,000,000 in excess
      thereof.

                  (b)   Mandatory. The Commitments shall be automatically and
      permanently reduced, on a pro rata basis, on each date on which prepayment
      of Advances is required to be made pursuant to Section 2.09(b) in an
      amount equal to the applicable Reduction Amount, provided that
      notwithstanding the foregoing and Section 2.09(b), in no event shall the
      Commitments be reduced, pursuant to this Section 2.04(b), to less than
      $350,000,000.

                  SECTION 2.05. Repayment of Advances. The Borrowers shall repay
      to the Agent for the ratable account of the Lenders on the Termination
      Date the aggregate principal amount of the Advances then outstanding.

                  SECTION 2.06. Interest on Advances. (a) Scheduled Interest.
      The Borrowers shall pay interest on the unpaid principal amount of each
      Advance owing to each Lender from the date of such Advance until such
      principal amount shall be paid in full, at the following rates per annum:

                  (i)   Base Rate Advances. During such periods as such Advance
            is a Base Rate Advance, a rate per annum equal at all times to the
            sum of (x) the Base Rate in effect from time to time plus (y) the
            Applicable Margin in effect from time to time, payable in arrears
            quarterly on the last day of each March, June, September and
            December during such periods and on the date such Base Rate Advance
            shall be Converted or paid in full.

                  (ii)  Eurodollar Rate Advances. During such periods as such
            Advance is a Eurodollar Rate Advance, a rate per annum equal at all
            times during each Interest Period for such Advance to the sum of (x)
            the Eurodollar Rate for such Interest Period for such Advance plus
            (y) the Applicable Margin in effect from time to time, payable in
            arrears on the last day of such Interest Period and, if such
            Interest Period has a duration of more than three months, on each
            day that occurs during such Interest Period every three months from
            the first day of such Interest Period and on the date such
            Eurodollar Rate Advance shall be Converted or paid in full.

                  (b)   Default Interest. Upon the occurrence and during the
      continuance of an Event of Default that has not been waived, the Agent
      may, and upon the request of the Required Lenders shall, require the
      Borrowers to pay interest ("Default Interest") on (i) the unpaid principal
      amount of each Advance owing to each Lender, payable in arrears on the
      dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum
      equal at all times to 2% per annum above the rate per annum required to be
      paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii)
      to the fullest extent permitted by law, the amount of any interest, fee or
      other amount payable hereunder that is not paid when due, from the date
      such amount shall be due until such amount shall be paid in full, payable
      in arrears on the date such amount shall be paid in full and on demand, at
      a rate per annum equal at all times to 2% per annum above the rate per
      annum required to be paid on Base Rate Advances pursuant to clause (a)(i)
      above; provided, however, that following acceleration of the Advances
      pursuant to Section 6.01, Default Interest shall accrue and be payable
      hereunder whether or not previously required by the Agent.

                                       13

<PAGE>

                  SECTION 2.07. Interest Rate Determination. (a) Each Reference
      Bank agrees to furnish to the Agent timely information for the purpose of
      determining each Eurodollar Rate. If any one or more of the Reference
      Banks shall not furnish such timely information to the Agent for the
      purpose of determining any such interest rate, the Agent shall determine
      such interest rate on the basis of timely information furnished by the
      remaining Reference Banks. The Agent shall give prompt notice to the
      Borrowers and the Lenders of the applicable interest rate determined by
      the Agent for purposes of Section 2.06(a)(i) or (ii), and the rate, if
      any, furnished by each Reference Bank for the purpose of determining the
      interest rate under Section 2.06(a)(ii).

                  (b)   If, with respect to any Eurodollar Rate Advances, the
      Required Lenders notify the Agent that the Eurodollar Rate for any
      Interest Period for such Advances will not adequately reflect the cost to
      such Required Lenders, as determined in the exercise of each such Lender's
      commercially reasonable discretion, of making, funding or maintaining
      their respective Eurodollar Rate Advances for such Interest Period, the
      Agent shall forthwith so notify the Borrowers and the Lenders, whereupon
      (A) the Borrowers will, on the last day of the then existing Interest
      Period therefor, either (x) prepay such Advances or (y) Convert such
      Advances into Base Rate Advances and (B) the obligation of the Lenders to
      make, or to Convert Advances into, Eurodollar Rate Advances shall be
      suspended until the Agent shall notify the Borrowers and the Lenders that
      the circumstances causing such suspension no longer exist.

                  (c)   If any Borrower shall fail to select the duration of any
      Interest Period for any Eurodollar Rate Advances in accordance with the
      provisions contained in the definition of "Interest Period" in Section
      1.01, the Agent will forthwith so notify such Borrower and the Lenders and
      such Advances will automatically, on the last day of the then existing
      Interest Period therefor, Convert into Base Rate Advances.

                  (d)   On the date on which the aggregate unpaid principal
      amount of Eurodollar Rate Advances comprising any Borrowing shall be
      reduced, by payment or prepayment or otherwise, to less than the Borrowing
      Minimum, such Advances shall automatically Convert into Base Rate
      Advances.

                  (e)   Upon the occurrence and during the continuance of any
      Event of Default that has not been waived, (i) each Eurodollar Rate
      Advance will automatically, on the last day of the then existing Interest
      Period therefor, be Converted into Base Rate Advances and (ii) the
      obligation of the Lenders to make, or to Convert Advances into, Eurodollar
      Rate Advances shall be suspended.

                  (f)   If Telerate Markets Page 3750 is unavailable and fewer
      than two Reference Banks furnish timely information to the Agent for
      determining the Eurodollar Rate for any Eurodollar Rate Advances,

                  (i)   the Agent shall forthwith notify the Borrowers and the
            Lenders that the interest rate cannot be determined for such
            Eurodollar Rate Advances,

                  (ii)  with respect to Eurodollar Rate Advances, each such
            Advance will automatically, on the last day of the then existing
            Interest Period therefor, Convert into a Base Rate Advance (or if
            such Advance is then a Base Rate Advance, will continue as a Base
            Rate Advance), and

                  (iii) the obligation of the Lenders to make Eurodollar Rate
            Advances or to Convert Advances into Eurodollar Rate Advances shall
            be suspended until the Agent shall notify the Borrowers and the
            Lenders that the circumstances causing such suspension no longer
            exist.

                  SECTION 2.08. Optional Conversion of Advances. Any Borrower
      may on any Business Day, upon notice given to the Agent not later than
      11:00 A.M. (New York City time) on the third Business Day prior to the
      date of the proposed Conversion and subject to the provisions of Sections
      2.07 and 2.11, Convert any or all Advances of one Type comprising the same
      Borrowing made to it into Advances of the other Type; provided, however,
      that any Conversion of Eurodollar Rate Advances into Base Rate Advances
      shall be made only on the last day of an Interest Period for such
      Eurodollar Rate Advances, any Conversion of Base Rate Advances into
      Eurodollar Rate Advances shall be in an amount not less than the minimum
      amount specified in Section 2.02(b) and no Conversion of any Advances
      shall result in more separate Borrowings than permitted under Section
      2.02(b). Each such notice of a Conversion shall, within the restrictions
      specified above, specify (i) the date of such

                                       14

<PAGE>

      Conversion, (ii) the Advances to be Converted, and (iii) if such
      Conversion is into Eurodollar Rate Advances, the duration of the initial
      Interest Period for each such Advance. Each notice of Conversion shall be
      irrevocable and binding on the Borrower giving such notice.

                  SECTION 2.09. Prepayments of Advances. (a) Optional. Any
      Borrower may, upon notice at least two Business Days prior to the date of
      such prepayment, in the case of Eurodollar Rate Advances, and not later
      than 11:00 A.M. (New York City time) on the date of such prepayment, in
      the case of Base Rate Advances, to the Agent stating the proposed date and
      aggregate principal amount of the prepayment, and if such notice is given,
      such Borrower shall prepay the outstanding principal amount of the
      Advances comprising part of the same Borrowing in whole or ratably in
      part, together with accrued interest to the date of such prepayment on the
      principal amount prepaid; provided, however, that (x) each partial
      prepayment shall be in an aggregate principal amount not less than the
      Borrowing Minimum or a Borrowing Multiple in excess thereof and (y) in the
      event of any such prepayment of a Eurodollar Rate Advance, the applicable
      Borrower shall be obligated to reimburse the Lenders in respect thereof
      pursuant to Section 9.04(c).

                  (b)   Mandatory. (i) The Borrowers shall, on the first
      Business Day after the date of receipt of the Net Cash Proceeds in excess
      of $10,000,000 in the aggregate by the Company or any of its Subsidiaries
      from (A) the sale, lease, transfer or other disposition of any assets of
      the Company or any of its Subsidiaries (other than any sale, lease,
      transfer or other disposition of assets pursuant to clause (i), (ii),
      (iii) or (iv) of Section 5.02(d)), (B) the incurrence or issuance by the
      Company or any of its Subsidiaries of any Debt (other than Debt incurred
      or issued pursuant to clause (i), (ii), (iii), (iv) or (vii) of Section
      5.02(c)) and (C) the sale or issuance by the Company or any of its
      Subsidiaries of any equity interests (including, without limitation,
      receipt of any capital contribution), prepay an aggregate principal amount
      of the Advances comprising part of the same Borrowings in an amount equal
      to the amount of such Net Cash Proceeds. Each such prepayment shall be
      applied ratably to the Advances comprising a Borrowing. The amount
      remaining (if any) after the prepayment in full of the Advances then
      outstanding (the sum of such prepayment amounts and remaining amount being
      referred to herein as the "Reduction Amount") may be retained by the
      Borrowers and the Commitments shall be permanently reduced as set forth in
      Section 2.04(b).

                  (ii) Each prepayment made pursuant to this Section 2.09(b)
      shall be made together with any interest accrued to the date of such
      prepayment on the principal amounts prepaid and, in the case of any
      prepayment of a Eurodollar Rate Advance on a date other than the last day
      of an Interest Period or at its maturity, any additional amounts which the
      Borrowers shall be obligated to reimburse to the Lenders in respect
      thereof pursuant to Section 9.04(c). The Agent shall give prompt notice of
      any prepayment required under this Section 2.09(b) to the Borrowers and
      the Lenders.

                  SECTION 2.10. Increased Costs. (a) If, due to either (i) the
      introduction of or any change in or in the interpretation of any law or
      regulation or (ii) the compliance with any guideline or request from any
      central bank or other governmental authority including, without
      limitation, any agency of the European Union or similar monetary or
      multinational authority (whether or not having the force of law), there
      shall be any increase in the cost to any Lender of agreeing to make or
      making, funding or maintaining Eurodollar Rate Advances (excluding for
      purposes of this Section 2.10 any such increased costs resulting from (i)
      Taxes or Other Taxes (as to which Section 2.13 shall govern) and (ii)
      changes in the basis of taxation of overall net income or overall gross
      income by the United States or by the foreign jurisdiction or state under
      the laws of which such Lender is organized or has its Applicable Lending
      Office or any political subdivision thereof), then the Borrowers shall
      from time to time, without premium or penalty, upon written demand by such
      Lender (with a copy of such demand to the Agent), pay to the Agent for the
      account of such Lender additional amounts sufficient to compensate such
      Lender for such increased cost; provided however, that at such time such
      Lender shall be generally assessing such amounts on a non-discriminatory
      basis against borrowers under agreements having provisions similar to this
      Section. A certificate as to the amount of such increased cost, submitted
      to the Borrowers and the Agent by such Lender, shall be conclusive and
      binding for all purposes, absent error in the calculation of such amounts.

                  (b)   If any Lender determines that compliance with any law or
      regulation or any guideline or request from any central bank or other
      governmental authority (whether or not having the force of law) affects or
      would affect the amount of capital required or expected to be maintained
      by such Lender or any corporation controlling such Lender (taking into
      consideration such Lender's (or such controlling corporation's) policies
      with

                                       15

<PAGE>

      respect to capital adequacy) and that the amount of such capital is
      increased by or based upon the existence of such Lender's commitment to
      lend hereunder and other commitments of this type, then, upon written
      demand by such Lender (with a copy of such demand to the Agent), the
      Borrowers shall pay to the Agent for the account of such Lender, from time
      to time as specified by such Lender, without premium or penalty,
      additional amounts sufficient to compensate such Lender or such
      corporation in the light of such circumstances, to the extent that such
      Lender reasonably determines such increase in capital to be allocable to
      the existence of such Lender's commitment to lend hereunder; provided,
      however, that at such time such Lender shall be generally assessing such
      amounts on a non-discriminatory basis against borrowers under agreements
      having provisions similar to this Section. A certificate as to such
      amounts submitted to the Borrowers and the Agent by such Lender shall be
      conclusive and binding for all purposes, absent error in the calculation
      of such amounts.

                  (c)   Each Lender will notify the Company of any change that
      will entitle such Lender to compensation under this Section 2.10 as
      promptly as practicable, but in any event within 90 days after such Lender
      obtains knowledge thereof; provided, however, that, if any Lender fails to
      give such notice within 90 days after it obtains knowledge of such change,
      such Lender shall, with respect to compensation payable in respect of any
      costs resulting from such change, only be entitled to payment for costs
      incurred from and after the date that such Lender does give such notice
      plus, if such change shall have retroactive effect, costs resulting from
      such change during the period of retroactive effect thereof. Any Lender
      claiming any additional amounts payable pursuant to this Section agrees to
      use reasonable efforts (consistent with its internal policy and legal and
      regulatory restrictions) to change the jurisdiction of its Eurodollar
      Lending Office if the making of such a change would avoid the need for, or
      reduce the amount of, any such additional amounts that may thereafter
      accrue and would not, in the reasonable judgment of such Lender, be
      otherwise disadvantageous to such Lender.

                        SECTION 2.11. Illegality. Notwithstanding any other
      provision of this Agreement, if any Lender shall notify the Agent that the
      introduction of or any change in or in the interpretation of any law or
      regulation makes it unlawful, or any central bank or other governmental
      authority asserts that it is unlawful, for any Lender or its Eurodollar
      Lending Office to perform its obligations hereunder to make Eurodollar
      Rate Advances hereunder, (a) be Converted into a Base Rate Advance and (b)
      the obligation of the Lenders to make Eurodollar Rate Advances or to
      Convert Advances into Eurodollar Rate Advances shall be suspended until
      the Agent shall notify the Borrowers and the Lenders that the
      circumstances causing such suspension no longer exist.

                        SECTION 2.12. Payments and Computations. (a) The
      Borrowers shall make each payment hereunder, irrespective of any right of
      counterclaim or set-off, not later than 11:00 A.M. (New York City time) on
      the day when due in U.S. dollars to the Agent at the Agent's Account in
      same day funds. The Agent will promptly thereafter cause to be distributed
      like funds relating to the payment of principal or interest or facility
      fees ratably (other than amounts payable pursuant to Section 2.10, 2.13 or
      9.04(c)) to the Lenders for the account of their respective Applicable
      Lending Offices, and like funds relating to the payment of any other
      amount payable to any Lender to such Lender for the account of its
      Applicable Lending Office, in each case to be applied in accordance with
      the terms of this Agreement. Upon its acceptance of an Assignment and
      Acceptance and recording of the information contained therein in the
      Register pursuant to Section 9.07(c), from and after the effective date
      specified in such Assignment and Acceptance, the Agent shall make all
      payments hereunder and under the Notes in respect of the interest assigned
      thereby to the Lender assignee thereunder, and the parties to such
      Assignment and Acceptance shall make all appropriate adjustments in such
      payments for periods prior to such effective date directly between
      themselves.

                  (b)   All computations of interest based on the Base Rate
      shall be made by the Agent on the basis of a year of 365 or 366 days, as
      the case may be, all computations of interest based on the Eurodollar Rate
      or the Federal Funds Rate and of facility fees shall be made by the Agent
      on the basis of a year of 360 days, in each case for the actual number of
      days (including the first day but excluding the last day) occurring in the
      period for which such interest or facility fees are payable. Each
      determination by the Agent of an interest rate hereunder shall be
      conclusive and binding for all purposes, absent manifest error.

                  (c)   Whenever any payment hereunder or under the Notes shall
      be stated to be due on a day other than a Business Day, such payment shall
      be made on the Business Day next succeeding, and such extension of time
      shall in such case be included in the computation of payment of interest
      or facility fee, as the case may be; provided, however, that, if such
      extension would cause payment of interest on or principal of Eurodollar
      Rate

                                       16

<PAGE>

      Advances to be made in the next following calendar month, such payment
      shall be made on the Business Day next preceding.

                  (d)   Unless the Agent shall have received notice from the
      applicable Borrower prior to the date on which any payment is due to the
      Lenders hereunder that such Borrower will not make such payment in full,
      the Agent may assume that such Borrower has made such payment in full to
      the Agent on such date and the Agent may, in reliance upon such
      assumption, cause to be distributed to each Lender on such due date an
      amount equal to the amount then due such Lender. If and to the extent any
      Borrower shall not have so made such payment in full to the Agent, each
      Lender shall repay to the Agent forthwith on demand such amount
      distributed to such Lender together with interest thereon, for each day
      from the date such amount is distributed to such Lender until the date
      such Lender repays such amount to the Agent, at the Federal Funds Rate.

                        SECTION 2.13. Taxes. (a) Any and all payments by the
      Borrowers to or for the account of any Lender or the Agent hereunder or
      under the Notes shall be made, in accordance with Section 2.12 or the
      applicable provisions of such other documents, free and clear of and
      without deduction for any and all present or future taxes, levies,
      imposts, deductions, charges or withholdings, and all liabilities with
      respect thereto, excluding, in the case of each Lender and the Agent, (i)
      foreign, United States federal, state and local taxes imposed on its
      overall net income and franchise taxes imposed on it in lieu of net income
      taxes by the jurisdiction under the laws of which such Lender or the Agent
      (as the case may be) is organized or any political subdivision thereof, or
      by any jurisdiction where such Lender or the Agent (as the case may be) is
      doing business or any political subdivision thereof and, in the case of
      each Lender, taxes imposed on its overall net income, and franchise taxes
      imposed on it in lieu of net income taxes, by the jurisdiction of such
      Lender's Applicable Lending Office or any political subdivision thereof,
      or by any jurisdiction where such Lender's Applicable Lending Office is
      doing business or any political subdivision thereof and (ii) United States
      state and local withholding taxes (in the appropriate amount) on the gross
      amount of interest paid by the Borrowers for which such Lender or the
      Agent (as the case may be) is entitled to a credit for such withholding
      taxes against a tax described in (i) (all such non-excluded taxes, levies,
      imposts, deductions, charges, withholdings and liabilities in respect of
      payments hereunder or under the Notes being hereinafter referred to as
      "Taxes"). If any Borrower shall be required by law to deduct any Taxes
      from or in respect of any sum payable hereunder or under any Note or any
      other documents to be delivered hereunder to any Lender or the Agent, (x)
      the sum payable shall be increased as may be necessary so that after
      making all required deductions (including deductions applicable to
      additional sums payable under this Section 2.13) such Lender or the Agent
      (as the case may be) receives an amount equal to the sum it would have
      received had no such deductions been made, (y) such Borrower shall make
      such deductions and (z) such Borrower shall pay the full amount deducted
      to the relevant taxation authority or other authority in accordance with
      applicable law. For the avoidance of doubt, if any Borrower shall be
      required by a court of competent jurisdiction to pay over an amount other
      than as Taxes, there shall be no adjustment as to such payment under this
      Section 2.13(a).

                  (b)   In addition, the Borrowers shall pay any present or
      future stamp or documentary taxes or any other excise or property taxes,
      charges or similar levies that arise from any payment made hereunder or
      under the Notes any other documents to be delivered hereunder or from the
      execution, delivery or registration of, performing under, or otherwise
      with respect to, this Agreement or the Notes or any other documents to be
      delivered hereunder (hereinafter referred to as "Other Taxes").

                  (c)   The Borrowers shall indemnify each Lender and the Agent
      for and hold it harmless against the full amount of Taxes or Other Taxes
      (including, without limitation, taxes of any kind imposed or asserted by
      any jurisdiction on amounts payable under this Section 2.13) imposed on or
      paid by such Lender or the Agent (as the case may be) and any liability
      (including penalties, interest and expenses) arising therefrom or with
      respect thereto. This indemnification shall be made within 30 days from
      the date such Lender or the Agent (as the case may be) makes written
      demand therefor.

                  (d)   Within 30 days after the date of any payment of Taxes,
      the Borrowers shall furnish to the Agent, at its address referred to in
      Section 9.02, the original or a certified copy of a receipt evidencing
      such payment to the extent such a receipt is issued therefor, or other
      written proof of payment thereof that is reasonably satisfactory to the
      Agent.

                                       17

<PAGE>

                  (e)   Each Lender organized under the laws of a jurisdiction
      outside the United States, on or prior to the date of its execution and
      delivery of this Agreement in the case of each Initial Lender and on the
      date of the Assignment and Acceptance pursuant to which it becomes a
      Lender in the case of each other Lender, and from time to time thereafter
      as reasonably requested in writing by the Borrowers (but only so long as
      such Lender remains lawfully able to do so), shall provide each of the
      Agent and the Borrowers with two original Internal Revenue Service forms
      W-8BEN or W-8ECI, as appropriate, or any successor or other form
      prescribed by the Internal Revenue Service, properly certifying that such
      Lender is exempt from or entitled to a reduced rate of United States
      withholding tax on payments pursuant to this Agreement or the Notes. If
      the form provided by a Lender at the time such Lender first becomes a
      party to this Agreement indicates a United States interest withholding tax
      rate in excess of zero, withholding tax at such rate shall be considered
      excluded from Taxes (and tax withheld in excess of such rate shall be
      included in Taxes) unless and until such Lender provides the appropriate
      forms certifying that a lesser rate applies, whereupon withholding tax at
      such lesser rate only shall be considered excluded from Taxes for periods
      governed by such form; provided, however, that, if at the date of the
      Assignment and Acceptance pursuant to which a Lender assignee becomes a
      party to this Agreement, the Lender assignor was entitled to payments
      under subsection (a) in respect of United States withholding tax with
      respect to interest paid at such date, then, to such extent, the term
      Taxes shall include (in addition to withholding taxes that may be imposed
      in the future or other amounts otherwise includable in Taxes) United
      States withholding tax, if any, applicable with respect to the Lender
      assignee on such date. If any form or document referred to in this
      subsection (e) requires the disclosure of information, other than
      information necessary to compute the tax payable and information required
      on the date hereof by Internal Revenue Service form W-8BEN or W-8ECI, that
      the Lender reasonably considers to be confidential, the Lender shall give
      notice thereof to the Borrowers and shall not be obligated to include in
      such form or document such confidential information. For purposes of this
      subsection (e), the terms "United States" and "United States person" shall
      have the meanings specified in Section 7701 of the Internal Revenue Code

                  (f)   For any period with respect to which a Lender has failed
      to provide the Borrowers with the appropriate form, certificate or other
      document described in Section 2.13(e) (other than if such failure is due
      to a change in law, or in the interpretation or application thereof,
      occurring subsequent to the date on which a form, certificate or other
      document originally was required to be provided, or if such form otherwise
      is not required under subsection (e) above), such Lender shall not be
      entitled to indemnification under Section 2.13(a) or (c) with respect to
      Taxes imposed by the United States by reason of such failure and the
      Borrowers may withhold at the full United States statutory withholding tax
      rate on interest (currently, 30%); provided, however, that should a Lender
      become subject to Taxes because of its failure to deliver a form,
      certificate or other document required hereunder, the Borrowers shall take
      such steps as the Lender shall reasonably request to assist the Lender to
      recover such Taxes.

                  SECTION 2.14. Sharing of Payments, Etc. If any Lender shall
      obtain any payment (whether voluntary, involuntary, through the exercise
      of any right of set-off, or otherwise) on account of the Advances owing to
      it (other than pursuant to Section 2.10, 2.13 or 9.04(c)) in excess of its
      ratable share of payments on account of the Advances obtained by all the
      Lenders, such Lender shall forthwith purchase from the other Lenders such
      participations in the Advances owing to them as shall be necessary to
      cause such purchasing Lender to share the excess payment ratably with each
      of them; provided, however, that if all or any portion of such excess
      payment is thereafter recovered from such purchasing Lender, such purchase
      from each Lender shall be rescinded and such Lender shall repay to the
      purchasing Lender the purchase price to the extent of such recovery
      together with an amount equal to such Lender's ratable share (according to
      the proportion of (i) the amount of such Lender's required repayment to
      (ii) the total amount so recovered from the purchasing Lender) of any
      interest or other amount paid or payable by the purchasing Lender in
      respect of the total amount so recovered. Each Borrower agrees that any
      Lender so purchasing a participation from another Lender pursuant to this
      Section 2.14 may, to the fullest extent permitted by law, exercise all its
      rights of payment (including the right of set-off as provided in Section
      9.05) with respect to such participation as fully as if such Lender were
      the direct creditor of such Borrower in the amount of such participation.

                  SECTION 2.15. Evidence of Debt. (a) Each Lender shall maintain
      in accordance with its usual practice an account or accounts evidencing
      the indebtedness of each Borrower to such Lender resulting from each
      Advance owing to such Lender from time to time, including the amounts of
      principal and interest payable and paid to such Lender from time to time
      hereunder in respect of Advances. Each Borrower agrees that upon notice by
      any Lender to such Borrower (with a copy of such notice to the Agent) to
      the effect that a Note is required or appropriate in order for such Lender
      to evidence (whether for purposes of pledge, enforcement or otherwise) the
      Advances

                                       18

<PAGE>

      owing to, or to be made by, such Lender, such Borrower shall promptly
      execute and deliver to such Lender a Note payable to such Lender in a
      principal amount up to the Commitment of such Lender.

                  (b)   The Register maintained by the Agent pursuant to Section
      9.07(d) shall include a control account, and a subsidiary account for each
      Lender, in which accounts (taken together) shall be recorded (i) the date
      and amount of each Borrowing made hereunder, the Type of Advances
      comprising such Borrowing and, if appropriate, the Interest Period
      applicable thereto, (ii) the terms of each Assignment and Acceptance
      delivered to and accepted by it, (iii) the amount of any principal or
      interest due and payable or to become due and payable from each Borrower
      to each Lender hereunder and (iv) the amount of any sum received by the
      Agent from each Borrower hereunder and each Lender's share thereof.

                  (c)   Entries made in good faith by the Agent in the Register
      pursuant to subsection (b) above, and by each Lender in its account or
      accounts pursuant to subsection (a) above, shall be prima facie evidence
      of the amount of principal and interest due and payable or to become due
      and payable from each Borrower to, in the case of the Register, each
      Lender and, in the case of such account or accounts, such Lender, under
      this Agreement, absent manifest error; provided, however, that the failure
      of the Agent or such Lender to make an entry, or any finding that an entry
      is incorrect, in the Register or such account or accounts shall not limit
      or otherwise affect the obligations of the Borrowers under this Agreement.

                  SECTION 2.16. Use of Proceeds. The proceeds of the Advances
      shall be available (and each of the Borrowers agrees that it or its
      Subsidiaries, as applicable, shall use such proceeds) solely to pay cash
      consideration for the Acquisition and all fees and expenses incurred in
      connection with the Acquisition including the fees and expenses owing to
      the Agent and the Lenders hereunder, to repay Debt of the Company or to
      transfer to the Target sufficient amounts for the repayment of the
      Target's (or its Subsidiaries') Debt, and up to $350,000,000 for general
      corporate purposes of the Company and its Subsidiaries.

                                   ARTICLE III

                     CONDITIONS TO EFFECTIVENESS AND LENDING

                  SECTION 3.01. Conditions Precedent to Effectiveness of Section
      2.01. Section 2.01 of this Agreement shall become effective on and as of
      the first date on or prior to June 30, 2004 (the "Effective Date") on
      which the following conditions precedent have been satisfied:

                  (a)   There shall have occurred no Material Adverse Change
            since December 31, 2003.

                  (b)   There shall exist no action, suit, investigation,
            litigation or proceeding affecting the Company or any of its
            Subsidiaries pending or, to the knowledge of the Company, threatened
            before any court, governmental agency or arbitrator that (i) could
            be reasonably likely to have a Material Adverse Effect other than
            the matters described on Schedule 3.01(b) hereto (the "Disclosed
            Litigation") or (ii) purports to affect the legality, validity or
            enforceability of this Agreement or any Note or the consummation of
            the transactions contemplated hereby, and there shall have been no
            material adverse change in the status, or financial effect on the
            Company or any of its Subsidiaries, of the Disclosed Litigation from
            that described on Schedule 3.01(b) hereto.

                  (c)   Nothing shall have come to the attention of the Lenders
            during the course of their due diligence investigation to lead them
            to believe that the information presented at the Lenders' Meeting on
            April 29, 2004 was or has become misleading, incorrect or incomplete
            in any material respect; without limiting the generality of the
            foregoing, the Lenders shall have been given such access to the
            management, records, books of account, contracts and properties of
            the Company and its Subsidiaries as they shall have reasonably
            requested.

                  (d)   All governmental and third party consents and approvals
            necessary in connection with the transactions contemplated hereby
            shall have been obtained (without the imposition of any conditions
            that are not acceptable to the Lenders) and shall remain in effect,
            all applicable waiting periods in connection

                                       19

<PAGE>

            with the Acquisition shall have expired without any action being
            taken by any competent authority, and no law or regulation shall be
            applicable in the reasonable judgment of the Lenders, in each case
            that restrains, prevents or imposes materially adverse conditions
            upon the transactions contemplated hereby.

                  (e)   All conditions precedent to the consummation of the
            Acquisition (other than the payment of cash consideration from the
            proceeds of the initial Borrowing hereunder) shall have been
            satisfied substantially in accordance with the terms of the Merger
            Agreement, without any waiver or amendment not consented to by the
            Lenders of any material term, provision or condition set forth
            therein, and in compliance with all applicable laws.

                  (f)   The Company shall have notified each Lender and the
            Agent in writing as to the proposed Effective Date.

                  (g)   The Company shall have paid (i) on the Closing Date, all
            fees due to the Agent and the Lenders on the Closing Date and (ii)
            on or before the Effective Date, all other accrued fees and expenses
            of the Agent and the Lenders (including the accrued reasonable fees
            and expenses of counsel to the Agent).

                  (h)   On the Effective Date, the following statements shall be
            true and the Agent shall have received for the account of each
            Lender a certificate signed by a duly authorized officer of the
            Company, dated the Effective Date, stating that:

                        (i)   The representations and warranties contained in
                  Section 4.01 are correct on and as of the Effective Date, and

                        (ii)  No event has occurred and is continuing that
                  constitutes a Default.

                  (i) The Agent shall have received on or before the Effective
            Date the following, each dated such day, in form and substance
            satisfactory to the Agent and (except for the Notes) in sufficient
            copies for each Lender:

                        (i)   The Notes to the Lenders to the extent requested
                  by any Lender pursuant to Section 2.15.

                        (ii)  Certified copies of the resolutions of the Board
                  of Directors of the Company approving this Agreement and the
                  Notes, and of all documents evidencing other necessary
                  corporate action and governmental approvals, if any, with
                  respect to this Agreement and the Notes.

                        (iii) Copies of the unaudited pro forma Consolidated
                  balance sheet of the Company and its Subsidiaries as at
                  December 31, 2003, and the related pro forma Consolidated
                  statements of income and cash flows of the Company and its
                  Subsidiaries for the fiscal year then ended, giving effect to
                  the Acquisition as of January 1, 2003.

                        (iv)  A certificate of the Secretary or an Assistant
                  Secretary of the Company certifying the names and true
                  signatures of the officers of the Company authorized to sign
                  this Agreement and the Notes and the other documents to be
                  delivered hereunder.

                        (v)   A favorable opinion of the Vice President and
                  General Counsel of the Company, substantially in the form of
                  Exhibit D hereto.

                        (vi)  A favorable opinion of Shearman & Sterling LLP,
                  counsel for the Agent, in form and substance satisfactory to
                  the Agent.

                                       20

<PAGE>

                  SECTION 3.02. Conditions Precedent to the Initial Borrowing of
      Each Designated Subsidiary. The obligation of each Lender to make an
      initial Advance to each Designated Subsidiary following its designation as
      a Borrower hereunder pursuant to Section 9.12 on the occasion of the
      initial Borrowing thereby is subject to the Agent's receipt on or before
      the date of such initial Borrowing of each of the following, in form and
      substance satisfactory to the Agent and dated such date:

                  (a)   The Designation Letter of such Designated Subsidiary, in
            substantially the form of Exhibit E hereto.

                  (b)   The Note of such Designated Subsidiary to the Lenders to
            the extent requested by any Lender pursuant to Section 2.15.

                  (c)   A certificate of the Secretary or an Assistant Secretary
            (or person performing similar functions) of such Designated
            Subsidiary certifying (i) appropriate resolutions of the board of
            directors (or persons performing similar functions) of such
            Designated Subsidiary approving this Agreement and its Notes, and
            all documents evidencing other necessary corporate (or equivalent)
            action and governmental approvals, if any, with respect to this
            Agreement and its Notes (copies of which shall be attached thereto)
            and (ii) the names and true signatures of the officers of such
            Designated Subsidiary authorized to sign the Designation Letter of
            such Designated Subsidiary and its Notes and the other documents to
            be delivered by such Designated Subsidiary hereunder.

                  (d)   A copy of a certificate of the Secretary of State (or
            other appropriate Governmental Authority) of the jurisdiction of
            organization of such Designated Subsidiary, dated reasonably near
            the date of such Borrowing, certifying that such Designated
            Subsidiary is duly organized and in good standing (or the equivalent
            thereof) under the laws of the jurisdiction of its organization.

                  (e)   A certificate signed by a duly authorized officer of
            such Designated Subsidiary, dated as of the date of such Borrowing,
            certifying that such Designated Subsidiary has obtained all
            authorizations, consents, approvals (including, without limitation,
            exchange control approvals) and licenses of any Governmental
            Authority or other third party necessary for such Designated
            Subsidiary to execute and deliver its Designation Letter and its
            Notes and to perform its obligations under this Agreement or any of
            its Notes.

                  (f)   Such other documents, opinions and other information as
            any Lender, through the Agent, may reasonably request.

                  SECTION 3.03. Conditions Precedent to Each Borrowing. The
      obligation of each Lender to make an Advance on the occasion of each
      Borrowing shall be subject to the conditions precedent that the Effective
      Date shall have occurred and on the date of such Borrowing (a) the
      following statements shall be true (and each of the giving of the
      applicable Notice of Borrowing and the acceptance by any Borrower of the
      proceeds of such Borrowing shall constitute a representation and warranty
      by such Borrower that on the date of such Borrowing such statements are
      true):

                  (i)   the representations and warranties contained in Section
            4.01 (except, in the case of Borrowings made after the initial
            Borrowing, the representations set forth in the last sentence of
            subsection (e) thereof) (and, if such Borrowing shall have been
            requested by a Designated Subsidiary, the representations and
            warranties of such Designated Subsidiary contained in its
            Designation Letter) are correct on and as of such date, before and
            after giving effect to such Borrowing and to the application of the
            proceeds therefrom, as though made on and as of such date except to
            the extent that such representations and warranties expressly relate
            to an earlier specified date, and

                  (ii)  no event has occurred and is continuing, or would result
            from such Borrowing or from the application of the proceeds
            therefrom, that constitutes a Default;

                                       21

<PAGE>

      and (b) the Agent shall have received such other approvals, opinions or
      documents as any Lender through the Agent may reasonably request.

                  SECTION 3.04. Determinations Under Section 3.01. For purposes
      of determining compliance with the conditions specified in Section 3.01,
      each Lender shall be deemed to have consented to, approved or accepted or
      to be satisfied with each document or other matter required thereunder to
      be consented to or approved by or acceptable or satisfactory to the
      Lenders unless an officer of the Agent responsible for the transactions
      contemplated by this Agreement shall have received notice from such Lender
      prior to the date that the Company, by notice to the Lenders, designates
      as the proposed Effective Date, specifying its objection thereto. The
      Agent shall promptly notify the Lenders of the occurrence of the Effective
      Date.

                                   ARTICLE IV

                         REPRESENTATIONS AND WARRANTIES

                  SECTION 4.01. Representations and Warranties of the Company.
      The Company represents and warrants as follows:

                  (a)   The Company is a corporation duly organized, validly
            existing and in good standing under the laws of the State of Ohio.

                  (b)   The execution, delivery and performance by the Company
            of this Agreement and the Notes to be delivered by it, and the
            consummation of the Acquisition and the other transactions
            contemplated hereby, are within the Company's corporate powers, have
            been duly authorized by all necessary corporate action, and do not
            contravene (i) the Company's charter or code of regulations or (ii)
            any applicable law or any contractual restriction in any material
            contract or, to the knowledge of the chief financial officer of the
            Company, any other contract the breach of which would limit the
            ability of any Borrower to perform its obligations under this
            Agreement or any Notes, binding on or affecting the Company.

                  (c)   No authorization or approval or other action by, and no
            notice to or filing with, any governmental authority or regulatory
            body or any other third party is required for the due execution,
            delivery and performance by the Company of this Agreement or the
            Notes to be delivered by it or for the consummation of the
            Acquisition and the other transactions contemplated hereby, other
            than authorizations, approvals, actions, notices or filings (i) that
            have been duly obtained, taken, given or made and are in full force
            and effect or (ii) as to which the failure to obtain, take, give or
            make would not reasonably be likely to result in a Material Adverse
            Effect. All applicable waiting periods in connection with the
            Acquisition have expired without any action having been taken by any
            competent authority restraining, preventing or imposing materially
            adverse conditions upon the Acquisition.

                  (d)   This Agreement has been, and each of the Notes to be
            delivered by it when delivered hereunder will have been, duly
            executed and delivered by the Company. This Agreement is, and each
            of its Notes when delivered hereunder will be, the legal, valid and
            binding obligation of the Company enforceable against the Company in
            accordance with their respective terms, except to the extent that
            the enforceability thereof may be limited by applicable bankruptcy,
            insolvency, reorganization, moratorium or other similar laws
            generally affecting creditors' rights and by equitable principles
            (regardless of whether enforcement is sought in equity or law).

                  (e)   The Consolidated balance sheet of the Company and its
            Subsidiaries as at December 31, 2003, and the related Consolidated
            statements of income and cash flows of the Company and its
            Subsidiaries for the fiscal year then ended, accompanied by an
            opinion of Deloitte & Touche LLP, independent public accountants,
            and the Consolidated balance sheet of the Company and its
            Subsidiaries as at March 31, 2004, and the related Consolidated
            statements of income and cash flows of the Company and its
            Subsidiaries for the three months then ended, duly certified by the
            chief financial officer of the

                                       22

<PAGE>

            Company, copies of which have been furnished to each Lender, fairly
            present, subject, in the case of said balance sheet as at March 31,
            2004, and said statements of income and cash flows for the three
            months then ended, to year-end audit adjustments, the Consolidated
            financial condition of the Company and its Subsidiaries as at such
            dates and the Consolidated results of the operations of the Company
            and its Subsidiaries for the periods ended on such dates, all in
            accordance with GAAP consistently applied. Since December 31, 2003,
            there has been no Material Adverse Change.

                  (f)   The unaudited Consolidated and consolidating pro forma
            balance sheets of the Company and its Subsidiaries as at December
            31, 2003, and the related unaudited Consolidated and consolidating
            pro forma statements of income and cash flows of the Company and its
            Subsidiaries for the year then ended, certified by the Chief
            Financial Officer of the Company, copies of which have been
            furnished to each Lender, fairly present, to the Chief Financial
            Officer's best knowledge, the Consolidated and consolidating pro
            forma financial condition of the Company and its Subsidiaries as at
            such date and the Consolidated and consolidating pro forma results
            of operations of the Company and its Subsidiaries for the period
            ended on such date, in each case giving effect to the Acquisition as
            of January 1, 2003, all in accordance with GAAP.

                  (g)   There is no pending or, to the Company's knowledge,
            threatened action, suit, investigation, litigation or proceeding,
            including, without limitation, any Environmental Action, affecting
            the Company or any of its Subsidiaries before any court,
            governmental agency or arbitrator that (i) would be reasonably
            likely to have a Material Adverse Effect (other than the Disclosed
            Litigation) or (ii) purports to affect the legality, validity or
            enforceability of this Agreement or any Note or the consummation of
            the transactions contemplated hereby, and there has been no adverse
            change in the status, or financial effect on the Company or any of
            its Subsidiaries, of the Disclosed Litigation from that described on
            Schedule 3.01(b) hereto.

                  (h)   The Information Memorandum and any other information,
            exhibit or report that has been or will hereafter be furnished by or
            on behalf of the Company or any Borrower to the Agent or any Lender
            in connection with the negotiation and syndication of this Agreement
            or pursuant to the terms of this Agreement is and will be when
            furnished, taken as a whole, complete and correct in all material
            respects and does not and will not, when furnished, contain any
            untrue statement of a material fact or omit to state a material fact
            necessary in order to make the statements contained therein not
            misleading in light of the circumstances under which such statements
            were or are made.

                  (i)   The Company is not engaged in the business of extending
            credit for the purpose of purchasing or carrying margin stock
            (within the meaning of Regulation U issued by the Board of Governors
            of the Federal Reserve System), and no proceeds of any Advance will
            be used to purchase or carry any margin stock or to extend credit to
            others for the purpose of purchasing or carrying any margin stock.

                  (j)   No Borrower is an "investment company", or a company
            "controlled" by an "investment company", within the meaning of the
            Investment Company Act of 1940, as amended.

                  (k)   The Company is, individually and together with its
            Subsidiaries, Solvent. "Solvent" means, with respect to any Person
            on a particular date, that on such date (i) the fair value of the
            property of such Person is greater than the total amount of
            liabilities, including, without limitation, contingent liabilities,
            of such Person, (ii) the present fair salable value of the assets of
            such Person is not less than the amount that will be required to pay
            the probable liability of such Person on its debts as they become
            absolute and matured, (iii) such Person does not intend to, and does
            not believe that it will, incur debts or liabilities beyond such
            Person's ability to pay such debts and liabilities as they mature
            and (iv) such Person is not engaged in business or a transaction,
            and is not about to engage in business or a transaction, for which
            such Person's property would constitute an unreasonably small
            capital. The amount of contingent liabilities at any time shall be
            computed as the amount that, in the light of all the facts and
            circumstances

                                       23

<PAGE>

            existing at such time, represents the amount that can reasonably be
            expected to become an actual or matured liability.

                                    ARTICLE V

                           COVENANTS OF THE BORROWERS

                  SECTION 5.01. Affirmative Covenants. So long as any Advance
      shall remain unpaid or any Lender shall have any Commitment hereunder,
      each Borrower will:

                  (a)   Compliance with Laws, Etc. Comply, and cause each of its
            Subsidiaries to comply, in all material respects, with all
            applicable laws, rules, regulations and orders, such compliance to
            include, without limitation, compliance with ERISA and Environmental
            Laws.

                  (b)   Payment of Taxes, Etc. Pay and discharge, and cause each
            of its Subsidiaries to pay and discharge, before the same shall
            become delinquent, (i) all taxes, assessments and governmental
            charges or levies imposed upon it or upon its property and (ii) all
            lawful claims that, if unpaid, might by law become a Lien upon its
            property; provided, however, that neither such Borrower nor any of
            its Subsidiaries shall be required to pay or discharge any such tax,
            assessment, charge or claim that is being contested in good faith
            and by proper proceedings.

                  (c)   Maintenance of Insurance. Maintain, and cause each of
            its Subsidiaries to maintain, insurance with responsible and
            reputable insurance companies or associations in such amounts and
            covering such risks as is usually carried by companies engaged in
            similar businesses and owning similar properties in the same general
            areas in which such Borrower or such Subsidiary operates; provided,
            however, that such Borrower and its Subsidiaries may self-insure to
            the same extent as other companies engaged in similar businesses and
            owning similar properties and to the extent consistent with prudent
            business practice.

                  (d)   Preservation of Corporate Existence, Etc. Preserve and
            maintain, and cause each of its Subsidiaries to preserve and
            maintain, its corporate existence, rights (charter and statutory)
            and franchises; provided, however, that such Borrower and its
            Subsidiaries may consummate any merger or consolidation permitted
            under Section 5.02(b) and provided further that neither such
            Borrower nor any of its Subsidiaries shall be required to preserve
            any right or franchise if the Board of Directors of such Borrower or
            such Subsidiary shall determine that the preservation thereof is no
            longer desirable in the conduct of the business of such Borrower or
            such Subsidiary, as the case may be, and that the loss thereof is
            not disadvantageous in any material respect to such Borrower, such
            Subsidiary or the Lenders.

                  (e)   Visitation Rights. At any reasonable time and from time
            to time, upon reasonable notice and during normal business hours,
            permit the Agent or any of the Lenders or any agents or
            representatives thereof, to examine and make copies of and abstracts
            from the records and books of account of, and visit the properties
            of, such Borrower and any of its Subsidiaries, and to discuss the
            affairs, finances and accounts of such Borrower and any of its
            Subsidiaries with any of their officers or directors and with their
            independent certified public accountants.

                  (f)   Keeping of Books. Keep, and cause each of its
            Subsidiaries to keep, proper books of record and account, in which
            full and correct entries shall be made of all financial transactions
            and the assets and business of such Borrower and each such
            Subsidiary in accordance with GAAP in effect from time to time.

                  (g)   Maintenance of Properties, Etc. Maintain and preserve,
            and cause each of its Subsidiaries to maintain and preserve, all of
            its properties that are used or useful in the conduct of its
            business in good working order and condition, ordinary wear and tear
            excepted.

                                       24

<PAGE>

                  (h)   Reporting Requirements. Furnish to the Lenders:

                        (i)   as soon as available and in any event within 60
                  days after the end of each of the first three quarters of each
                  fiscal year of the Company, the Consolidated balance sheet of
                  the Company and its Subsidiaries as of the end of such quarter
                  and Consolidated statements of income and cash flows of the
                  Company and its Subsidiaries for the period commencing at the
                  end of the previous fiscal year and ending with the end of
                  such quarter, duly certified (subject to year-end audit
                  adjustments) by the chief financial officer of the Company as
                  having been prepared in accordance with GAAP and certificates
                  of the chief financial officer of the Company as to compliance
                  with the terms of this Agreement and setting forth in
                  reasonable detail the calculations necessary to demonstrate
                  compliance with Section 5.03;

                        (ii)  as soon as available and in any event within 120
                  days after the end of each fiscal year of the Company, a copy
                  of the annual report for such year for the Company and its
                  Subsidiaries, containing the Consolidated balance sheet of the
                  Company and its Subsidiaries as of the end of such fiscal year
                  and Consolidated statements of income and cash flows of the
                  Company and its Subsidiaries for such fiscal year, in each
                  case accompanied by an opinion acceptable to the Required
                  Lenders by Deloitte & Touche LLP or other independent public
                  accountants reasonably acceptable to the Required Lenders.
                  There shall also be provided, in reasonable detail, the
                  calculations necessary to demonstrate compliance with Section
                  5.03;

                        (iii) as soon as possible and in any event within five
                  days after a responsible officer of the Company knows or
                  should have known of the occurrence of each Default continuing
                  on the date of such statement, a statement of the chief
                  financial officer of the Company setting forth details of such
                  Default and the action that the Company has taken and/or
                  proposes to take with respect thereto;

                        (iv)  promptly after the sending or filing thereof,
                  copies of all reports that the Company sends to any of its
                  security holders, and copies of all reports and registration
                  statements that the Company or any Subsidiary files with the
                  Securities and Exchange Commission or any national securities
                  exchange;

                        (v)   promptly after the commencement thereof, notice of
                  all actions and proceedings before any court, governmental
                  agency or arbitrator affecting the Company or any of its
                  Subsidiaries of the type described in Section 4.01(g); and

                        (vi)  such other information respecting the Company or
                  any of its Subsidiaries as any Lender through the Agent may
                  from time to time reasonably request.

                  (i)   Pari Passu Status. Ensure, and cause each of its
            Designated Subsidiaries to ensure, that the Debt outstanding under
            this Agreement and the Notes ranks at least pari passu with all
            other senior unsecured Debt of the Company or such Designated
            Subsidiary, as the case may be.

                  (j)   Transactions with Affiliates. Conduct, and cause each of
            its Subsidiaries to conduct, all transactions otherwise permitted
            under this Agreement with any of their Affiliates on terms that are
            fair and reasonable and no less favorable to the Company or such
            Subsidiary than it would obtain in a comparable arm's-length
            transaction with a Person not an Affiliate.

                  SECTION 5.02. Negative Covenants. So long as any Advance shall
      remain unpaid or any Lender shall have any Commitment hereunder, the
      Borrowers will not:

                  (a)   Liens, Etc. Create or suffer to exist, or permit any of
            its Subsidiaries to create or suffer to exist, any Lien on or with
            respect to any of its properties, whether now owned or hereafter
            acquired, or assign, or permit any of its Subsidiaries to assign,
            any right to receive income, other than:

                                       25

<PAGE>

                        (i)    Liens existing on the Effective Date and
                  described on Schedule 5.02(a) hereto,

                        (ii)   purchase money Liens upon or in any real property
                  or equipment acquired or held by the Company or any Subsidiary
                  in the ordinary course of business (including any Lien in
                  respect of a capitalized lease of personal property) to secure
                  the purchase price of such property or equipment or to secure
                  Debt incurred solely for the purpose of financing the
                  acquisition or lease of such property or equipment, or Liens
                  existing on such property or equipment at the time of its
                  acquisition (other than any such Liens created in
                  contemplation of such acquisition that were not incurred to
                  finance the acquisition of such property) or extensions,
                  renewals or replacements of any of the foregoing for the same
                  or a lesser amount, provided, however, that no such Lien shall
                  extend to or cover any properties of any character other than
                  the real property or equipment being acquired or leased, and
                  no such extension, renewal or replacement shall extend to or
                  cover any properties not theretofore subject to the Lien being
                  extended, renewed or replaced,

                        (iii)  Liens asserted by warehousemen, mechanics or
                  materialmen which Liens are being contested in good faith by
                  appropriate proceedings diligently conducted and for which
                  reserves in accordance with GAAP are being maintained on the
                  books of the Company and any mechanic's, carrier's, landlord's
                  or similar common law or statutory lien incurred in the normal
                  course of business which has not been docketed as a judgment,

                        (iv)   Liens or levies for taxes, fees, assessments or
                  governmental charges not yet due and payable or being
                  contested in good faith by appropriate proceedings diligently
                  conducted and Liens resulting from or incurred with respect to
                  legal proceedings which are being contested in good faith by
                  appropriate proceedings diligently conducted; provided that
                  reserves in accordance with GAAP are being maintained on the
                  books of the Company with respect to such taxes, fees,
                  assessments, governmental charges and legal proceedings,

                        (v)    Liens securing only workers' compensation,
                  unemployment insurance or similar obligations and/or deposits
                  or pledges made in connection with, or to secure payment of,
                  utilities or similar services, leases, workers' compensation,
                  unemployment insurance, old age pensions or other social
                  security obligations,

                        (vi)   Encumbrances as set forth in all deeds, title
                  insurance and mortgages existing as of the Effective Date in
                  respect of all real property owned or leased by the Company or
                  any of its Subsidiaries and any other zoning or deed
                  restrictions, public utility easements, minor title
                  irregularities and similar matters having no material adverse
                  effect as a practical matter on the ownership or use of any of
                  the real property in question,

                        (vii)  Liens securing or given in lieu of surety, stay,
                  appeal or performance bonds (other than contracts for the
                  payment of indebtedness for borrowed money), or deposits
                  required by law or governmental regulations or by any court
                  order, decree, judgment or rule or as a condition to the
                  transaction of business or the exercise of any right,
                  privilege or license, or Liens arising from a judgment not
                  constituting an Event of Default,

                        (viii) Interest or title of a lessor under a lease,

                        (ix)   Liens in favor of the Agent or a Lender, if any,
                  to secure the obligations of the Borrowers under this
                  Agreement,

                        (x)    Liens created or assumed in purchasing,
                  constructing or improving any real property or to which any
                  real property is subject when purchased; provided, however,
                  that: (x) the mortgage, security interest or other lien is
                  confined to the property in question, and (y) the indebtedness
                  secured thereby is non-recourse as to the Company and does not
                  exceed the total cost of the purchase, construction or
                  improvement,

                                       26

<PAGE>

                        (xi)   Any transfer of a check or other medium of
                  payment for deposit or collection, or any similar transaction
                  in the normal course of business,

                        (xii)  Any financing statement perfecting a security
                  interest that would be permissible under this Section 5.02(a),

                        (xiii) Liens on property of a Person existing at the
                  time such Person is merged into or consolidated with the
                  Company or any Subsidiary of the Company or becomes a
                  Subsidiary of the Company; provided that such Liens were not
                  created in contemplation of such merger, consolidation or
                  acquisition and do not extend to any assets other than those
                  of the Person so merged into or consolidated with the Company
                  or such Subsidiary or acquired by the Company or such
                  Subsidiary,

                        (xiv)  other Liens securing Debt in an aggregate
                  principal amount not to exceed $5,000,000 at any time
                  outstanding, and

                        (xv)   the replacement, extension or renewal of any Lien
                  permitted by clause (i), (ii), (viii), (ix) or (xii) above
                  upon or in the same property theretofore subject thereto or
                  the replacement, extension or renewal (without increase in the
                  amount or change in any direct or contingent obligor) of the
                  Debt secured thereby.

                  (b)   Mergers, Acquisitions, Etc. Merge with or into or
            consolidate with any other Person; liquidate, wind up, dissolve or
            divide; acquire all or substantial all of the properties or assets
            of any ongoing concern or going line of business; acquire all or
            substantially all of the capital stock or other equity interests in
            or of any other Person other than in the ordinary course of
            business; or agree, become or remain liable (contingently or
            otherwise) to do any of the foregoing, or permit any of its
            Subsidiaries to do any of the foregoing, except:

                        (i)   the Company may consummate the Acquisition,

                        (ii)  the Company or any Subsidiary may acquire all or
                  substantially all of the properties or assets of any other
                  Person, acquire all or substantially all of the capital stock
                  or other equity interests in or of any other Person, or become
                  or remain liable (contingently or otherwise) to do any of the
                  foregoing, provided that the total value of the consideration
                  for all transactions permitted under this clause (ii) shall
                  not exceed $25,000,000 in the aggregate,

                        (iii) a directly or indirectly wholly-owned Subsidiary
                  of the Company (or any Subsidiary of such Subsidiary) may
                  merge with or into or consolidate with or into any other
                  wholly-owned Subsidiary of the Company (or any Subsidiary of
                  such Subsidiary),

                        (iv)  the Company may acquire all or substantially all
                  of the properties or assets of any Subsidiary, and

                        (v)   a directly or indirectly wholly-owned Subsidiary
                  of the Company (or any Subsidiary of such Subsidiary) may
                  merge with the Company, provided that the Company shall be the
                  surviving corporation, and

            provided further, in the case of each transaction permitted in
            clauses (i), (ii) and (iii), that no Default shall have occurred and
            be continuing at the time of such proposed transaction or would
            result therefrom.

                  (c)   Debt. Create or suffer to exist, or permit any of its
            Subsidiaries to create or suffer to exist, any Debt other than:

                        (i)   Debt outstanding under this Agreement and the
                  Notes,

                                       27

<PAGE>

                        (ii)  Debt owed to the Company or to a direct or
                  indirect wholly-owned Subsidiary of the Company,

                        (iii) Debt existing as of March 31, 2004 and described
                  on Schedule 5.02(c) hereto (the "Existing Debt"), and any Debt
                  extending the maturity of, or refunding or refinancing, in
                  whole or in part, the Existing Debt, provided that the
                  principal amount of such Existing Debt shall not be increased
                  above the principal amount thereof outstanding immediately
                  prior to such extension, refunding or refinancing, and the
                  direct and contingent obligors therefor shall not be changed,
                  as a result of or in connection with such extension, refunding
                  or refinancing,

                        (iv)  Debt secured by Liens permitted by Section
                  5.02(a)(ii) or (xi) aggregating for all of the Company's
                  Subsidiaries not more than $5,000,000 at any one time
                  outstanding,

                        (v)   unsecured Debt incurred in the ordinary course of
                  business aggregating for the Company and its Subsidiaries, of
                  which not more than $10,000,000 at any one time outstanding
                  shall be incurred by Subsidiaries of the Company,

                        (vi)  secured Debt incurred in the ordinary course of
                  business aggregating for the Company and its Subsidiaries not
                  more than $5,000,000 at any time outstanding, and

                        (vii) endorsement of negotiable instruments for deposit
                  or collection or similar transactions in the ordinary course
                  of business.

                  (d)   Sales, Etc. of Assets. Sell, lease, transfer or
            otherwise dispose of, or permit any of its Subsidiaries to sell,
            lease, transfer or otherwise dispose of, any assets, or grant any
            option or other right to purchase, lease or otherwise acquire any
            assets, except (i) sales of inventory in the ordinary course of its
            business, (ii) sales, transfers or other dispositions of obsolete or
            worn-out tools, equipment or other property (including leasehold
            interests) no longer used or useful in business and sales of
            intellectual property determined to be uneconomical, negligible or
            obsolete, (iii) in a transaction authorized by subsection (b) of
            this Section, (iv) sales, leases, transfers and other dispositions
            of assets by (x) the Company to any Subsidiary or (y) by any
            Subsidiary to the Company or any other Subsidiary and (v) sales of
            assets for fair value in an aggregate amount not to exceed
            $50,000,000 in any year, provided that in the case of the sale of
            any asset in a single transaction or a series of related
            transactions in an aggregate amount exceeding $20,000,000, the fair
            value of such asset shall have been determined in good faith by the
            Board of Directors of the Company, provided that in the case of
            sales of assets pursuant to this clause (v), the Borrowers shall, on
            the date of receipt by any Borrower or any of its Subsidiaries of
            the Net Cash Proceeds from such sale, prepay the Advances pursuant
            to, and in the amount and order of priority set forth in, Section
            2.09(b), as specified therein.

                  (e)   Investments in Other Persons. Make or hold, or permit
            any of its Subsidiaries to make or hold, any Investment in any
            Person other than:

                        (i)   Investments by the Company and its Subsidiaries in
                  their Subsidiaries outstanding on the date hereof, Investments
                  in Subsidiaries of the Company as required or is reasonably
                  desirable to comply with thin capitalization rules in
                  jurisdictions outside the United States and additional
                  investments in wholly owned Subsidiaries in an aggregate
                  amount invested from the date hereof not to exceed
                  $10,000,000;

                        (ii)  Investments by the Company made as capital
                  contributions to any of its direct or indirect Subsidiaries
                  for the purpose of repaying, prepaying or otherwise retiring
                  Debt of the Target or its direct or indirect Subsidiaries
                  existing at the date of the Acquisition or restructuring
                  Subsidiaries of the Borrower in connection with the
                  Acquisition;

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<PAGE>

                        (iii)  loans and advances to employees in the ordinary
                  course of the business of the Company and its Subsidiaries as
                  presently conducted in an aggregate principal amount not to
                  exceed $2,000,000 at any time outstanding;

                        (iv)   Investments in Marketable Securities;

                        (v)    Investments made by the Company or its
                  Subsidiaries in joint ventures as required by the applicable
                  joint venture agreement in effect as of the date hereof;

                        (vi)   Investments consisting of intercompany Debt
                  permitted under Section 5.02(c)(ii);

                        (vii)  any endorsement of a check or other medium of
                  payment for deposit or collection, or any similar transaction
                  in the ordinary course of business;

                        (viii) the Company and its Subsidiaries may acquire
                  and hold receivables and similar items owing to them in the
                  ordinary course of business and payable or dischargeable in
                  accordance with customary trade terms;

                        (ix)   the Guaranteed Obligations;

                        (x)    intercompany loans and advances permitted by
                  Section 5.02(c)(ii);

                        (xi)   the Company and its Subsidiaries may acquire and
                  own Investments (including debt obligations) received in
                  connection with the bankruptcy or reorganization of customers
                  and suppliers and in settlement of delinquent obligations of,
                  and other disputes with, customers and suppliers arising in
                  the ordinary course of business;

                        (xii)  Investments by Subsidiaries of the Company
                  organized outside of the United States in the following (or
                  the equivalent thereof in the applicable foreign
                  jurisdiction): (A) time deposits maturing within one year from
                  the date of purchase thereof, including certificates of
                  deposit issued by any bank or trust company organized outside
                  of the United States that has total assets aggregating at
                  least $200,000,000 or the equivalent in a foreign currency,
                  (B) fully collateralized repurchase agreements having a term
                  of not more than 30 days and covering securities described in
                  subsection (A) above entered into with any bank or trust
                  company described in subsection (A) above, or (C) investments
                  in money market funds substantially all of the assets of which
                  are comprised of securities described in (A) and (B) above;

                        (xiii) loans and advances to customers and vendors in
                  the ordinary course of business of the Company and its
                  Subsidiaries as presently conducted in an aggregate principal
                  amount not to exceed $10,000,000 at any time outstanding; and

                        (xiv)  other Investments in an aggregate amount invested
                  not to exceed $10,000,000.

                  (f)   Payment Restrictions Affecting Subsidiaries. Directly or
            indirectly, enter into or suffer to exist, or permit any of its
            Subsidiaries to enter into or suffer to exist, any agreement or
            arrangement limiting the ability of any of its Subsidiaries to
            declare or pay dividends or other distributions in respect of its
            equity interests or repay or prepay any Debt owed to, make loans or
            advances to, or otherwise transfer assets to or invest in, the
            Company or any Subsidiary of the Company (whether through a covenant
            restricting dividends, loans, asset transfers or investments, a
            financial covenant or otherwise), except (i) any agreement or
            instrument evidencing Debt existing on the date hereof and (ii) any
            agreement in effect at the time such Subsidiary becomes a Subsidiary
            of the Company, so long as such agreement was not entered into
            solely in contemplation of such Person becoming a Subsidiary of the
            Company.

                                       29

<PAGE>

                  (g)   Accounting Changes. Make or permit, or permit any of its
            Subsidiaries to make or permit, any change in accounting policies or
            reporting practices, except as required or permitted by GAAP.

                  (h)   Change in Nature of Business. Make, or permit any of its
            Subsidiaries to make, any material change in the nature of the
            business of the Company and its Subsidiaries considered as a whole
            as carried on at the date hereof.

                  SECTION 5.03. Financial Covenants. So long as any Advance
      shall remain unpaid or any Lender shall have any Commitment hereunder, the
      Company will:

                  (a)   Debt/EBITDA Ratio. Maintain a ratio of Consolidated Debt
            to Consolidated EBITDA for the period of twelve months most recently
            ended of not greater than 5.75 : 1.00.

                  (b)   Interest Coverage Ratio. Maintain a ratio of
            Consolidated EBITDA for the period of four quarters most recently
            ended to cash interest payable on, and amortization of debt discount
            in respect of, all Debt (other than Debt of the Target outstanding
            at the date of the Acquisition) during such period, by the Company
            and its Subsidiaries of not less than 3.50 : 1.00.

                                   ARTICLE VI

                                EVENTS OF DEFAULT

                  SECTION 6.01. Events of Default. If any of the following
      events ("Events of Default") shall occur and be continuing:

                  (a)   Any Borrower shall fail to pay any principal of any
            Advance when the same becomes due and payable; or any Borrower shall
            fail to pay any interest on any Advance or make any other payment of
            fees or other amounts payable under this Agreement or any Note
            within four Business Days after the same becomes due and payable; or

                  (b)   Any representation or warranty made by any Borrower
            herein or by any Borrower (or any of its corporate officers) in
            connection with this Agreement shall prove to have been incorrect in
            any material respect when made; or

                  (c)   (i) The Borrowers shall fail to perform or observe any
            term, covenant or agreement contained in Section 5.01(d), (e) or
            (h), 5.02 or 5.03, or (ii) the Borrowers shall fail to perform or
            observe any other term, covenant or agreement contained in this
            Agreement on its part to be performed or observed if such failure
            shall remain unremedied for 15 days after written notice thereof
            shall have been given to the Company by the Agent or any Lender; or

                  (d)   The Company or any of its Subsidiaries shall fail to pay
            any principal of or premium or interest on any Debt that is
            outstanding in a principal amount of at least $25,000,000 in the
            aggregate at any one time (but excluding Debt outstanding hereunder)
            of the Company or such Subsidiary (as the case may be), when the
            same becomes due and payable (whether by scheduled maturity,
            required prepayment, acceleration, demand or otherwise), and such
            failure shall continue after the applicable grace period, if any,
            specified in the agreement or instrument relating to such Debt; or
            any other event shall occur or condition shall exist under any
            agreement or instrument relating to any such Debt and shall continue
            after the applicable grace period, if any, specified in such
            agreement or instrument, if the effect of such event or condition is
            to accelerate, or to permit the acceleration of, the maturity of
            such Debt; or any such Debt shall be declared to be due and payable,
            or required to be prepaid or redeemed (other than by a regularly
            scheduled required prepayment or redemption), purchased or defeased,
            or an offer to prepay, redeem, purchase or defease such Debt shall
            be required to be made, in each case prior to the stated maturity
            thereof; or

                                       30
<PAGE>
            (e)   The Company or any of its Subsidiaries shall generally not pay
      its debts as such debts become due, or shall admit in writing its
      inability to pay its debts generally, or shall make a general assignment
      for the benefit of creditors; or any proceeding shall be instituted by or
      against the Company or any of its Subsidiaries seeking to adjudicate it a
      bankrupt or insolvent, or seeking liquidation, winding up, reorganization,
      arrangement, adjustment, protection, relief, or composition of it or its
      debts under any law relating to bankruptcy, insolvency or reorganization
      or relief of debtors, or seeking the entry of an order for relief or the
      appointment of a receiver, trustee, custodian or other similar official
      for it or for any substantial part of its property and, in the case of any
      such proceeding instituted against it (but not instituted by it), either
      such proceeding shall remain undismissed or unstayed for a period of 60
      days, or any of the actions sought in such proceeding (including, without
      limitation, the entry of an order for relief against, or the appointment
      of a receiver, trustee, custodian or other similar official for, it or for
      any substantial part of its property) shall occur; or the Company or any
      of its Subsidiaries shall take any corporate action to authorize any of
      the actions set forth above in this subsection (e); or

            (f)   Judgments or orders for the payment of money in excess of
      $25,000,000 in the aggregate shall be rendered against the Company or any
      of its Subsidiaries and either (i) enforcement proceedings shall have been
      commenced by any creditor upon such judgment or order or (ii) there shall
      be any period of 10 consecutive days during which a stay of enforcement of
      such judgment or order, by reason of a pending appeal or otherwise, shall
      not be in effect; provided, however, that any such judgment or order shall
      not be an Event of Default under this Section 6.01(f) if and for so long
      as (i) the amount of such judgment or order is covered by a valid and
      binding policy of insurance between the defendant and the insurer covering
      payment thereof and (ii) such insurer, which shall be rated at least "A"
      by A.M. Best Company, has been notified of, and has not disputed the claim
      made for payment of, the amount of such judgment or order; or

            (g)   (i) Any Person or two or more Persons acting in concert shall
      have acquired beneficial ownership (within the meaning of Rule 13d-3 of
      the Securities and Exchange Commission under the Securities Exchange Act
      of 1934), directly or indirectly, of Voting Stock of the Company (or other
      securities convertible into such Voting Stock) representing 20% or more of
      the combined voting power of all Voting Stock of the Company; or (ii)
      during any period of up to 24 consecutive months, commencing before or
      after the date of this Agreement, individuals who at the beginning of such
      24-month period were directors of the Company shall cease for any reason
      to constitute a majority of the board of directors of the Company; or

            (h)   The Company or any of its ERISA Affiliates shall incur, or, in
      the reasonable opinion of the Required Lenders, shall be reasonably likely
      to incur liability in excess of $25,000,000 in the aggregate as a result
      of one or more of the following: (i) the occurrence of any ERISA Event;
      (ii) the partial or complete withdrawal of the Company or any of its ERISA
      Affiliates from a Multiemployer Plan; or (iii) the reorganization or
      termination of a Multiemployer Plan;

then, and in any such event, the Agent (i) shall at the request, or may with the
consent, of the Required Lenders, by notice to the Borrowers, declare the
obligation of each Lender to make Advances to be terminated, whereupon the same
shall forthwith terminate, and (ii) shall at the request, or may with the
consent, of the Required Lenders, by notice to the Borrowers, declare the
Advances, all interest thereon and all other amounts payable under this
Agreement to be forthwith due and payable, whereupon the Advances, all such
interest and all such amounts shall become and be forthwith due and payable,
without presentment, demand, protest or further notice of any kind, all of which
are hereby expressly waived by each Borrower; provided, however, that in the
event of an actual or deemed entry of an order for relief with respect to any
Borrower under the Federal Bankruptcy Code, (A) the obligation of each Lender to
make Advances shall automatically be terminated and (B) the Advances, all such
interest and all such amounts shall automatically become and be due and payable,
without presentment, demand, protest or any notice of any kind, all of which are
hereby expressly waived by each Borrower.

                                   ARTICLE VII

                                       31

<PAGE>

                                    GUARANTY

      SECTION 7.01. Guaranty. The Company hereby absolutely, unconditionally and
irrevocably guarantees the punctual payment when due, whether at
scheduled maturity or on any date of a required prepayment or by acceleration,
demand or otherwise, of all obligations of each other Borrower now or hereafter
existing under or in respect of this Agreement and the Notes of such Borrower
(including, without limitation, any extensions, modifications, substitutions,
amendments or renewals of any or all of the foregoing obligations), whether
direct or indirect, absolute or contingent, and whether for principal, interest,
premiums, fees, indemnities, contract causes of action, costs, expenses or
otherwise (such obligations being the "Guaranteed Obligations"), and agrees to
pay any and all expenses (including, without limitation, reasonable fees and
expenses of counsel) incurred by the Agent or any Lender in enforcing any rights
under this Guaranty. Without limiting the generality of the foregoing, the
Company's liability shall extend to all amounts that constitute part of the
Guaranteed Obligations and would be owed by any other Borrower to the Agent or
any Lender under or in respect of this Agreement and its Notes but for the fact
that they are unenforceable or not allowable due to the existence of a
bankruptcy, reorganization or similar proceeding involving such other Borrower.
Notwithstanding any other provisions of this Agreement, stock of a foreign
entity directly held by the Company shall not serve as security for the
Guaranteed Obligations, other than stock of any such foreign entity representing
no more than 65% of the total combined voting power of all classes of stock of
such entity entitled to vote.

      SECTION 7.02. Guaranty Absolute. The Company guarantees that the
Guaranteed Obligations will be paid strictly in accordance with the terms of
this Agreement and the applicable Notes, regardless of any law, regulation or
order now or hereafter in effect in any jurisdiction affecting any of such terms
or the rights of the Agent or any Lender with respect thereto. The obligations
of the Company under or in respect of this Guaranty are independent of the
Guaranteed Obligations or any other obligations of any other Borrower under or
in respect of this Agreement and the Notes, and a separate action or actions may
be brought and prosecuted against the Company to enforce this Guaranty,
irrespective of whether any action is brought against any other Borrower or
whether any other Borrower is joined in any such action or actions. The
liability of the Company under this Guaranty shall be irrevocable, absolute and
unconditional irrespective of, and to the extent not prohibited by applicable
law, the Company hereby irrevocably waives any defenses it may now have or
hereafter acquire in any way relating to, any or all of the following:

            (a)   any lack of validity or enforceability of this Agreement, any
      Note or any agreement or instrument relating thereto;

            (b)   any change in the time, manner or place of payment of, or in
      any other term of, all or any of the Guaranteed Obligations or any other
      obligations of any other Borrower under or in respect of this Agreement,
      and Notes, or any other amendment or waiver of or any consent to departure
      from this Agreement or any Note, including, without limitation, any
      increase in the Guaranteed Obligations resulting from the extension of
      additional credit to any Borrower or any of its Subsidiaries or otherwise;

            (c)   any taking, exchange, release or amendment or waiver of, or
      consent to departure from, any other guaranty, for all or any of the
      Guaranteed Obligations;

            (d)   any manner of application of collateral, if any, or proceeds
      thereof, to all or any of the Guaranteed Obligations, or any manner of
      sale or other disposition of any collateral for all or any of the
      Guaranteed Obligations or any other obligations of any Borrower under this
      Agreement or the Notes or any other assets of any Borrower or any of its
      Subsidiaries;

            (e)   any change, restructuring or termination of the corporate
      structure or existence of any Borrower or any of its Subsidiaries;

            (f)   any failure of the Agent or any Lender to disclose to any
      Borrower any information relating to the business, condition (financial or
      otherwise), operations, performance, properties or prospects of any other
      Borrower now or hereafter known to the Agent or such Lender (the Company
      waiving any duty on the part of the Agent and the Lenders to disclose such
      information);

                                       32

<PAGE>

            (g)   the release or reduction of liability of any other guarantor
      or surety with respect to the Guaranteed Obligations; or

            (h)   any other circumstance (including, without limitation, any
      statute of limitations) or any existence of or reliance on any
      representation by the Agent or any Lender that might otherwise constitute
      a defense available to, or a discharge of, any Borrower or any other
      guarantor or surety.

This Guaranty shall continue to be effective or be reinstated, as the case may
be, if at any time any payment of any of the Guaranteed Obligations is rescinded
or must otherwise be returned by the Agent or any Lender or any other Person
upon the insolvency, bankruptcy or reorganization of any other Borrower or
otherwise, all as though such payment had not been made.

            SECTION 7.03. Waivers and Acknowledgments. (a) The Company hereby
unconditionally and irrevocably waives promptness, diligence, notice of
acceptance, presentment, demand for performance, notice of nonperformance,
default, acceleration, protest or dishonor and any other notice with respect to
any of the Guaranteed Obligations and this Guaranty and any requirement that the
Agent or any Lender protect, secure, perfect or insure any Lien or any property
subject thereto or exhaust any right or take any action against any Borrower or
any other Person or any collateral.

            (b)   The Company hereby unconditionally and irrevocably waives any
      right to revoke this Guaranty and acknowledges that this Guaranty is
      continuing in nature and applies to all Guaranteed Obligations, whether
      existing now or in the future.

            (c)   The Company hereby unconditionally and irrevocably waives (i)
      any defense arising by reason of any claim or defense based upon an
      election of remedies by the Agent or any Lender that in any manner
      impairs, reduces, releases or otherwise adversely affects the subrogation,
      reimbursement, exoneration, contribution or indemnification rights of the
      Company or other rights of the Company to proceed against any of the other
      Borrowers, any other guarantor or any other Person or any collateral and
      (ii) any defense based on any right of set-off or counterclaim against or
      in respect of the obligations of the Company hereunder.

            (d)   The Company hereby unconditionally and irrevocably waives any
      duty on the part of the Agent or any Lender to disclose to the Company any
      matter, fact or thing relating to the business, condition (financial or
      otherwise), operations, performance, properties or prospects of any other
      Borrower or any of its Subsidiaries now or hereafter known by the Agent or
      such Lender.

            (e)   The Company acknowledges that it will receive substantial
      direct and indirect benefits from the financing arrangements contemplated
      by this Agreement and that the waivers set forth in Section 7.02 and this
      Section 7.03 are knowingly made in contemplation of such benefits.

            SECTION 7.04. Subrogation. The Company hereby unconditionally and
irrevocably agrees, so long as any Event of Default has occurred and
is continuing, not to exercise any rights that it may now have or hereafter
acquire against any other Borrower or any other insider guarantor that arise
from the existence, payment, performance or enforcement of the Company's
obligations under or in respect of this Guaranty, including, without limitation,
any right of subrogation, reimbursement, exoneration, contribution or
indemnification and any right to participate in any claim or remedy of the Agent
or any Lender against any Borrower or any other insider guarantor or any
collateral, whether or not such claim, remedy or right arises in equity or under
contract, statute or common law, including, without limitation, the right to
take or receive from any Borrower or any other insider guarantor, directly or
indirectly, in cash or other property or by set-off or in any other manner,
payment or security on account of such claim, remedy or right, unless and until
all of the Guaranteed Obligations and all other amounts payable under this
Guaranty shall have been paid in full in cash and the Commitments shall have
expired or been terminated. If any amount shall be paid to the Company in
violation of the immediately preceding sentence at any time prior to the later
of (a) the payment in full in cash of the Guaranteed Obligations and all other
amounts payable under this Guaranty and (b) the Termination Date, such amount
shall be received and held in trust for the benefit of the Agent and the
Lenders, shall be segregated from other property and funds of the Company and
shall forthwith be paid or delivered to the Agent in the same form as so
received (with any necessary endorsement or assignment) to be

                                       33

<PAGE>

credited and applied to the Guaranteed Obligations and all other amounts payable
under this Guaranty, whether matured or unmatured, in accordance with the terms
of this Agreement, or to be held as collateral for any Guaranteed Obligations or
other amounts payable under this Guaranty thereafter arising. If (i) the Company
shall make payment to the Agent or any Lender of all or any part of the
Guaranteed Obligations, (ii) all of the Guaranteed Obligations and all other
amounts payable under this Guaranty shall have been paid in full in cash and
(iii) the Termination Date shall have occurred, the Agent and the Lenders will,
at the Company's request and expense, execute and deliver to the Company
appropriate documents, without recourse and without representation or warranty,
necessary to evidence the transfer by subrogation to the Company of an interest
in the Guaranteed Obligations resulting from such payment made by the Company
pursuant to this Guaranty.

            SECTION 7.05. Subordination. The Company hereby subordinates any and
all debts, liabilities and other obligations ------------- owed to the Company
by each other Borrower (the "Subordinated Obligations") to the Guaranteed
Obligations to the extent and in the manner hereinafter set forth in this
Section 7.05:

            (a)   Prohibited Payments, Etc. Except during the continuance of an
      Event of Default (including the commencement and continuation of any
      proceeding under any bankruptcy law relating to any other Borrower), the
      Company may receive regularly scheduled payments from any other Borrower
      on account of the Subordinated Obligations. After the occurrence and
      during the continuance of any Event of Default (including the commencement
      and continuation of any proceeding under any bankruptcy law relating to
      any other Borrower), however, unless the Required Lenders otherwise agree,
      the Company shall not demand, accept or take any action to collect any
      payment on account of the Subordinated Obligations.

            (b)   Prior Payment of Guaranteed Obligations. In any proceeding
      under any bankruptcy law relating to any other Borrower, the Company
      agrees that the Agent and the Lenders shall be entitled to receive payment
      in full in cash of all Guaranteed Obligations (including all interest and
      expenses accruing after the commencement of a proceeding under any
      bankruptcy law, whether or not constituting an allowed claim in such
      proceeding ("Post Petition Interest")) before the Company receives payment
      of any Subordinated Obligations.

            (c)   Turn-Over. After the occurrence and during the continuance of
      any Event of Default (including the commencement and continuation of any
      proceeding under any bankruptcy law relating to any other Borrower), the
      Company shall, if the Agent so requests, collect, enforce and receive
      payments on account of the Subordinated Obligations as trustee for the
      Agent and the Lenders and deliver such payments to the Agent on account of
      the Guaranteed Obligations (including all Post Petition Interest),
      together with any necessary endorsements or other instruments of transfer,
      but without reducing or affecting in any manner the liability of the
      Company under the other provisions of this Guaranty.

            (d)   Agent Authorization. After the occurrence and during the
      continuance of any Event of Default (including the commencement and
      continuation of any proceeding under any bankruptcy law relating to any
      other Borrower), the Agent is authorized and empowered (but without any
      obligation to so do), in its discretion, (i) in the name of the Company,
      to collect and enforce, and to submit claims in respect of, Subordinated
      Obligations and to apply any amounts received thereon to the Guaranteed
      Obligations (including any and all Post Petition Interest), and (ii) to
      require the Company (A) to collect and enforce, and to submit claims in
      respect of, Subordinated Obligations and (B) to pay any amounts received
      on such obligations to the Agent for application to the Guaranteed
      Obligations (including any and all Post Petition Interest).

            SECTION 7.06. Continuing Guaranty; Assignments. This Guaranty is a
continuing guaranty and shall (a) remain in full force and effect until the
later of (i) the payment in full in cash of the Guaranteed Obligations and all
other amounts payable under this Guaranty and (ii) the Termination Date, (b) be
binding upon the Company, its successors and assigns and (c) inure to the
benefit of and be enforceable by the Agent and the Lenders and their successors,
transferees and assigns. Without limiting the generality of clause (c) of the
immediately preceding sentence, the Agent or any Lender may assign or otherwise
transfer all or any portion of its rights and obligations under this Agreement
(including, without limitation, all or any portion of its Commitments, the
Advances owing to it and the Note or Notes held by it) to any other Person, and
such other Person shall thereupon become vested with all the benefits in respect
thereof granted to the Agent or such Lender herein or otherwise, in each case as
and to the

                                       34

<PAGE>

extent provided in Section 9.07. The Company shall not have the right
to assign its rights under this Article VII or any interest in this Article VII
without the prior written consent of the Agent and the Lenders.

                                  ARTICLE VIII

                                    THE AGENT

            SECTION 8.01. Authorization and Action. Each Lender hereby appoints
and authorizes the Agent to take such action as agent on its behalf and to
exercise such powers and discretion under this Agreement as are delegated to the
Agent by the terms hereof, together with such powers and discretion as are
reasonably incidental thereto. As to any matters not expressly provided for by
this Agreement (including, without limitation, enforcement or collection of the
Notes), the Agent shall not be required to exercise any discretion or take any
action, but shall be required to act or to refrain from acting (and shall be
fully protected in so acting or refraining from acting) upon the instructions of
the Required Lenders, and such instructions shall be binding upon all Lenders
and all holders of Notes; provided, however, that the Agent shall not be
required to take any action that exposes the Agent to personal liability or that
is contrary to this Agreement or applicable law. The Agent agrees to give to
each Lender prompt notice of each notice given to it by any Borrower pursuant to
the terms of this Agreement.

            SECTION 8.02. Agent's Reliance, Etc. Neither the Agent nor any of
its directors, officers, agents or employees shall be liable for any action
taken or omitted to be taken by it or them under or in connection with this
Agreement, except for its or their own gross negligence or willful misconduct.
Without limitation of the generality of the foregoing, the Agent: (i) may treat
the Lender that made any Advance as the holder of the Debt resulting therefrom
until the Agent receives and accepts an Assignment and Acceptance entered into
by such Lender, as assignor, and an Eligible Assignee, as assignee, as provided
in Section 9.07; (ii) may consult with legal counsel (including counsel for the
Borrowers), independent public accountants and other experts selected by it and
shall not be liable for any action taken or omitted to be taken in good faith by
it in accordance with the advice of such counsel, accountants or experts; (iii)
makes no warranty or representation to any Lender and shall not be responsible
to any Lender for any statements, warranties or representations (whether written
or oral) made in or in connection with this Agreement; (iv) shall not have any
duty to ascertain or to inquire as to the performance, observance or
satisfaction of any of the terms, covenants or conditions of this Agreement on
the part of any Borrower or the existence at any time of any Default or to
inspect the property (including the books and records) of any Borrower; (v)
shall not be responsible to any Lender for the due execution, legality,
validity, enforceability, genuineness, sufficiency or value of this Agreement or
any other instrument or document furnished pursuant hereto; and (vi) shall incur
no liability under or in respect of this Agreement by acting upon any notice,
consent, certificate or other instrument or writing (which may be by telecopier,
telegram or telex) believed by it to be genuine and signed or sent by the proper
party or parties.

            SECTION 8.03. Citicorp and Affiliates. With respect to its
Commitment, the Advances made by it and the Note issued to it, Citicorp shall
have the same rights and powers under this Agreement as any other Lender and may
exercise the same as though it were not the Agent; and the term "Lender" or
"Lenders" shall, unless otherwise expressly indicated, include Citicorp in its
individual capacity. Citicorp and its Affiliates may accept deposits from, lend
money to, act as trustee under indentures of, accept investment banking
engagements from and generally engage in any kind of business with, the Company,
any of its Subsidiaries and any Person who may do business with or own
securities of the Company or any such Subsidiary, all as if Citicorp were not
the Agent and without any duty to account therefor to the Lenders. The Agent
shall have no duty to disclose information obtained or received by it or any of
its affiliates relating to the Company or its Subsidiaries to the extent such
information was obtained or received in any capacity other than as Agent.

            SECTION 8.04. Lender Credit Decision. Each Lender acknowledges that
it has, independently and without reliance upon the Agent or any other Lender
and based on the financial statements referred to in Section 4.01 and such other
documents and information as it has deemed appropriate, made its own credit
analysis and decision to enter into this Agreement. Each Lender also
acknowledges that it will, independently and without reliance upon the Agent or
any other Lender and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or
not taking action under this Agreement.

                                       35

<PAGE>

            SECTION 8.05. Indemnification. The Lenders agree to indemnify the
Agent (to the extent not reimbursed by the Borrowers), ratably according to the
respective principal amounts of the Advances then owed to each of them (or if no
Advances are at the time outstanding, ratably according to the respective
amounts of their Commitments), from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind or nature whatsoever that may be imposed
on, incurred by, or asserted against the Agent in any way relating to or arising
out of this Agreement or any action taken or omitted by the Agent under this
Agreement (collectively, the "Indemnified Costs"), provided that no Lender shall
be liable for any portion of the Indemnified Costs resulting from the Agent's
gross negligence or willful misconduct. Without limitation of the foregoing,
each Lender agrees to reimburse the Agent promptly upon demand for its ratable
share of any out-of-pocket expenses (including reasonable counsel fees) incurred
by the Agent in connection with the preparation, execution, delivery,
administration, modification, amendment or enforcement (whether through
negotiations, legal proceedings or otherwise) of, or legal advice in respect of
rights or responsibilities under, this Agreement, to the extent that the Agent
is not reimbursed for such expenses by the Borrowers. In the case of any
investigation, litigation or proceeding giving rise to any Indemnified Costs,
this Section 8.05 applies whether any such investigation, litigation or
proceeding is brought by the Agent, any Lender or a third party.

            SECTION 8.06. Successor Agent. The Agent may resign at any time by
giving written notice thereof to the Lenders and the Company and may be removed
at any time with or without cause by the Required Lenders. Upon any such
resignation or removal, the Required Lenders shall have the right to appoint a
successor Agent with the consent of the Company, which consent shall not be
unreasonably withheld and shall not be required if any Event of Default has
occurred and is continuing. If no successor Agent shall have been so appointed
by the Required Lenders, and shall have accepted such appointment, within 30
days after the retiring Agent's giving of notice of resignation or the Required
Lenders' removal of the retiring Agent, then the retiring Agent may, on behalf
of the Lenders, appoint a successor Agent, which shall be a commercial bank
organized under the laws of the United States of America or of any State thereof
and having a combined capital and surplus of at least $500,000,000. Upon the
acceptance of any appointment as Agent hereunder by a successor Agent, such
successor Agent shall thereupon succeed to and become vested with all the
rights, powers, discretion, privileges and duties of the retiring Agent, and the
retiring Agent shall be discharged from its duties and obligations under this
Agreement. After any retiring Agent's resignation or removal hereunder as Agent,
the provisions of this Article VIII shall inure to its benefit as to any actions
taken or omitted to be taken by it while it was Agent under this Agreement.

            SECTION 8.07. Sub-Agent. The Sub-Agent has been designated under
this Agreement to carry out duties of the Agent. The Sub-Agent shall be subject
to each of the obligations in this Agreement to be performed by the Sub-Agent,
and each of the Borrowers and the Lenders agrees that the Sub-Agent shall be
entitled to exercise each of the rights and shall be entitled to each of the
benefits of the Agent under this Agreement as relate to the performance of its
obligations hereunder.

            SECTION 8.08. Other Agents. Each Lender hereby acknowledges that
neither the documentation agent nor any other Lender designated as any "Agent"
on the signature pages hereof (other than the Agent) has any liability hereunder
other than in its capacity as a Lender.

                                   ARTICLE IX

                                  MISCELLANEOUS

            SECTION 9.01. Amendments, Etc. No amendment or waiver of any
provision of this Agreement or the Notes, nor consent to any departure by any
Borrower therefrom, shall in any event be effective unless the same shall be in
writing and signed by the Required Lenders, and then such waiver or consent
shall be effective only in the specific instance and for the specific purpose
for which given; provided, however, that no amendment, waiver or consent shall,
unless in writing and signed by all the Lenders, do any of the following: (a)
waive any of the conditions specified in Section 3.01, (b) increase the
Commitments of the Lenders, (c) reduce the principal of, or interest on, the
Advances or any fees or other amounts payable hereunder, (d) postpone any date
fixed for any payment of principal of, or interest on, the Advances or any fees
or other amounts payable hereunder, (e) change the percentage of the Commitments
or of the aggregate unpaid principal amount of the Advances, or the number of
Lenders, that shall be required for the Lenders or any of them to take any
action hereunder, (f) reduce, subordinate or limit the obligations of the
Company under Section 7.01 or (g) amend this Section 9.01; and provided further
that

                                      36

<PAGE>

no amendment, waiver or consent shall, unless in writing and signed by the
Agent in addition to the Lenders required above to take such action, affect the
rights or duties of the Agent under this Agreement or any Note.

            SECTION 9.02. Notices, Etc. (a) All notices and other communications
provided for hereunder shall be either (a) in writing (including telecopier,
telegraphic or telex communication) and mailed, telecopied, telegraphed, telexed
or delivered or (y) as and to the extent set forth in Section 9.02(c) and in the
proviso to this Section 9.02(a), if to any Borrower, at the address of the
Company at 29400 Lakeland Blvd., Wickliffe, Ohio 44092-2298, Attention:
Treasurer (with a copy to the Company's legal division at the same address); if
to any Initial Lender, at its Domestic Lending Office specified opposite its
name on Schedule I hereto; if to any other Lender, at its Domestic Lending
Office specified in the Assignment and Acceptance pursuant to which it became a
Lender; and if to the Agent, at its address at Two Penns Way, New Castle,
Delaware 19720, Attention: Bank Loan Syndications Department; or, as to any
Borrower or the Agent, at such other address as shall be designated by such
party in a written notice to the other parties and, as to each other party, at
such other address as shall be designated by such party in a written notice to
the Borrowers and the Agent, provided that materials required to be delivered
pursuant to Section 5.01(h)(i), (ii) or (iv) shall be delivered to the Agent as
specified in Section 9.02(c). All such notices and communications shall, when
mailed, telecopied, telegraphed or e-mailed, be effective when deposited in the
mails, telecopied, delivered to the telegraph company or confirmed by e-mail,
respectively, except that notices and communications to the Agent pursuant to
Article II, III or VIII shall not be effective until received by the Agent.
Delivery by telecopier of an executed counterpart of any amendment or waiver of
any provision of this Agreement or the Notes or of any Exhibit hereto to be
executed and delivered hereunder shall be effective as delivery of a manually
executed counterpart thereof.

            (b)   Notwithstanding anything to the contrary contained in this
Agreement or any Note, (i) any notice to the Borrowers or to any one of them
required under this Agreement or any such Note that is delivered to the Company
shall constitute effective notice to the Borrowers or to any such Borrower,
including the Company and (ii) any Notice of Borrowing or any notice of
Conversion delivered pursuant to Section 2.07 may be delivered by any Borrower
or by the Company, on behalf of any other Borrower. Each Designated Subsidiary
hereby irrevocably appoints the Company as its authorized agent to receive and
deliver notices in accordance with this Section 9.02, and hereby irrevocably
agrees that (A) in the case of clause (i) of the immediately preceding sentence,
the failure of the Company to give any notice referred to therein to any such
Designated Subsidiary to which such notice applies shall not impair or affect
the validity of such notice with respect thereto and (B) in the case of clause
(ii) of the immediately preceding sentence, the delivery of any such notice by
the Company, on behalf of any other Borrower, shall be binding on such other
Borrower to the same extent as if such notice had been executed and delivered
directly by such Borrower.

            (c)   So long as Citibank or any of its Affiliates is the Agent,
materials required to be delivered pursuant to Section 5.01(h)(i), (ii) and (iv)
shall be delivered to the Agent in an electronic medium in a format reasonably
acceptable to the Agent and the Lenders by e-mail at
oploanswebadmin@citigroup.com. The Company agrees that the Agent may make such
materials, as well as any other written information, documents, instruments and
other material relating to the Company, any of its Subsidiaries or any other
materials or matters relating to this Agreement, the Notes or any of the
transactions contemplated hereby (collectively, the "Communications") available
to the Lenders by posting such notices on Intralinks or a substantially similar
electronic system (the "Platform"). The Company acknowledges that (i) the
distribution of material through an electronic medium is not necessarily secure
and that there are confidentiality and other risks associated with such
distribution, (ii) the Platform is provided "as is" and "as available" and (iii)
neither the Agent nor any of its Affiliates warrants the accuracy, adequacy or
completeness of the Communications or the Platform and each expressly disclaims
liability for errors or omissions in the Communications or the Platform. No
warranty of any kind, express, implied or statutory, including, without
limitation, any warranty of merchantability, fitness for a particular purpose,
non-infringement of third party rights or freedom from viruses or other code
defects, is made by the Agent or any of its Affiliates in connection with the
Platform.

            (d)   Each Lender agrees that notice to it (as provided in the next
sentence) (a "Notice") specifying that any Communications have been posted to
the Platform shall constitute effective delivery of such information, documents
or other materials to such Lender for purposes of this Agreement; provided that
if requested by any Lender the Agent shall deliver a copy of the Communications
to such Lender by email or telecopier. Each Lender agrees (i) to notify the
Agent in writing of such Lender's e-mail address to which a Notice may be sent
by

                                       37
<PAGE>

electronic transmission (including by electronic communication) on or before
the date such Lender becomes a party to this Agreement (and from time to time
thereafter to ensure that the Agent has on record an effective e-mail address
for such Lender) and (ii) that any Notice may be sent to such e-mail address.

            SECTION 9.03. No Waiver; Remedies. No failure on the part of any
Lender or the Agent to exercise, and no delay in exercising, any right hereunder
or under any Note shall operate as a waiver thereof; nor shall any single or
partial exercise of any such right preclude any other or further exercise
thereof or the exercise of any other right. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law.

            SECTION 9.04. Costs and Expenses. (a) The Borrowers agree to pay on
demand all reasonable, out-of-pocket costs and expenses of only the Agent in
connection with the preparation, execution, delivery, administration,
modification and amendment of this Agreement, the Notes and the other documents
to be delivered hereunder, including, without limitation, (A) all due diligence,
syndication (including printing, distribution and bank meetings),
transportation, computer, duplication, appraisal, consultant, and audit expenses
and (B) the reasonable fees and expenses of counsel for the Agent with respect
thereto and with respect to advising the Agent as to its rights and
responsibilities under this Agreement. The Borrowers further agree to pay on
demand all costs and expenses of the Agent and the Lenders, if any (including,
without limitation, reasonable counsel fees and expenses), in connection with
the enforcement (whether through negotiations, legal proceedings or otherwise)
of this Agreement, the Notes and the other documents to be delivered hereunder,
including, without limitation, reasonable fees and expenses of counsel for the
Agent and each Lender in connection with the enforcement of rights under this
Section 9.04(a).

            (b)   The Borrowers agree to indemnify and hold harmless the Agent
and each Lender and each of their Affiliates and their officers, directors,
employees, agents and advisors (each, an "Indemnified Party") from and against
any and all claims, damages, losses, liabilities and expenses (including,
without limitation, reasonable fees and expenses of counsel) incurred by or
awarded against any Indemnified Party, in each case arising out of or in
connection with or by reason of (including, without limitation, in connection
with any investigation, litigation or proceeding or preparation of a defense in
connection therewith) (i) the Notes, this Agreement, any of the transactions
contemplated herein or the actual or proposed use of the proceeds of the
Advances or (ii) the actual or alleged presence of Hazardous Materials on any
property of the Company or any of its Subsidiaries or any Environmental Action
relating in any way to the Company or any of its Subsidiaries, except to the
extent such claim, damage, loss, liability or expense is found in a final,
non-appealable judgment by a court of competent jurisdiction to have resulted
from such Indemnified Party's gross negligence or willful misconduct. In the
case of an investigation, litigation or other proceeding to which the indemnity
in this Section 9.04(b) applies, such indemnity shall be effective whether or
not such investigation, litigation or proceeding is brought by any Borrower, its
directors, equityholders or creditors or an Indemnified Party or any other
Person, whether or not any Indemnified Party is otherwise a party thereto and
whether or not the transactions contemplated hereby are consummated. The
Borrowers also agree not to assert any claim for special, indirect,
consequential or punitive damages against the Agent, any Lender, any of their
Affiliates, or any of their respective directors, officers, employees, attorneys
and agents, on any theory of liability, arising out of or otherwise relating to
the Notes, this Agreement, any of the transactions contemplated herein or the
actual or proposed use of the proceeds of the Advances.

            (c)   If any payment of principal of, or Conversion of, any
Eurodollar Rate Advance is made by any Borrower to or for the account of a
Lender (i) other than on the last day of the Interest Period for such Advance,
as a result of a payment or Conversion pursuant to Section 2.07, 2.09 or 2.11,
acceleration of the maturity of the Notes pursuant to Section 6.01 or for any
other reason, or by an Eligible Assignee to a Lender other than on the last day
of the Interest Period for such Advance upon an assignment of rights and
obligations under this Agreement pursuant to Section 9.07 as a result of a
demand by the Company pursuant to Section 9.07(a) or (ii) as a result of a
payment or Conversion pursuant to Section 2.07, 2.09 or 2.11, the applicable
Borrower shall, upon demand by such Lender (with a copy of such demand to the
Agent), pay to the Agent for the account of such Lender any amounts required to
compensate such Lender for any additional losses, costs or expenses that it may
reasonably incur as a result of such payment or Conversion, including, without
limitation, any loss, cost or expense incurred by reason of the liquidation or
reemployment of deposits or other funds acquired by any Lender to fund or
maintain such Advance.

                                       38

<PAGE>

            (d)   Without prejudice to the survival of any other agreement of
any Borrower hereunder, the agreements and obligations of the Borrowers
contained in Sections 2.10, 2.13 and 9.04 shall survive the payment in full of
principal, interest and all other amounts payable hereunder and under the Notes.

            SECTION 9.05. Right of Set-off. Upon (i) the occurrence and during
the continuance of any Event of Default and (ii) the making of the request or
the granting of the consent specified by Section 6.01 to authorize the Agent to
declare the Advances due and payable pursuant to the provisions of Section 6.01,
each Lender and each of its Affiliates is hereby authorized at any time and from
time to time, to the fullest extent permitted by law, to set off and apply any
and all deposits (general or special, time or demand, provisional or final) at
any time held and other indebtedness at any time owing by such Lender or such
Affiliate to or for the credit or the account of any Borrower against any and
all of the obligations of the Borrowers now or hereafter existing under this
Agreement and the Note held by such Lender, whether or not such Lender shall
have made any demand under this Agreement or such Note and although such
obligations may be unmatured. Each Lender agrees promptly to notify the
applicable Borrower after any such set-off and application, provided that the
failure to give such notice shall not affect the validity of such set-off and
application. The rights of each Lender and its Affiliates under this Section are
in addition to other rights and remedies (including, without limitation, other
rights of set-off) that such Lender and its Affiliates may have.

            SECTION 9.06. Binding Effect. This Agreement shall become effective
(other than Section 2.01, which shall only become effective upon satisfaction of
the conditions precedent set forth in Section 3.01) when it shall have been
executed by the Company and the Agent and when the Agent shall have been
notified by each Initial Lender that such Initial Lender has executed it and
thereafter shall be binding upon and inure to the benefit of the Company, the
Agent and each Lender and their respective successors and assigns, except that
no Borrower shall have the right to assign its rights hereunder or any interest
herein without the prior written consent of the Lenders.

            SECTION 9.07. Assignments and Participations. (a) Each Lender may
and, if demanded by the Company (following a demand by such Lender pursuant to
Section 2.10 or 2.13) upon at least five Business Days' notice to such Lender
and the Agent, will assign to one or more Persons all or a portion of its rights
and obligations under this Agreement (including, without limitation, all or a
portion of its Commitment, the Advances owing to it and the Note or Notes held
by it); provided, however, that (i) each such assignment shall be of a constant,
and not a varying, percentage of all rights and obligations under this
Agreement, (ii) except in the case of an assignment to a Person that,
immediately prior to such assignment, was a Lender or an assignment of all of a
Lender's rights and obligations under this Agreement, the amount of the
Commitment of the assigning Lender being assigned pursuant to each such
assignment (determined as of the date of the Assignment and Acceptance with
respect to such assignment) shall in no event be less than $5,000,000 or an
integral multiple of $1,000,000 in excess thereof, (iii) each such assignment
shall be to an Eligible Assignee, (iv) each such assignment made as a result of
a demand by the Company pursuant to this Section 9.07(a) shall be arranged by
the Company after consultation with the Agent and shall be either an assignment
of all of the rights and obligations of the assigning Lender under this
Agreement or an assignment of a portion of such rights and obligations made
concurrently with another such assignment or other such assignments that
together cover all of the rights and obligations of the assigning Lender under
this Agreement, (v) no Lender shall be obligated to make any such assignment as
a result of a demand by the Company pursuant to this Section 9.07(a) unless and
until such Lender shall have received one or more payments from either the
Borrowers or one or more Eligible Assignees in an aggregate amount at least
equal to the aggregate outstanding principal amount of the Advances owing to
such Lender, together with accrued interest thereon to the date of payment of
such principal amount and all other amounts payable to such Lender under this
Agreement, and (vi) the parties to each such assignment shall execute and
deliver to the Agent, for its acceptance and recording in the Register, an
Assignment and Acceptance, together with any Note subject to such assignment and
a processing and recordation fee of $3,500 payable by the parties to each such
assignment, provided, however, that in the case of each assignment made as a
result of a demand by the Company, such recordation fee shall be payable by the
Company except that no such recordation fee shall be payable in the case of an
assignment made at the request of the Company to an Eligible Assignee that is an
existing Lender, and (vii) any Lender may, without the approval of the Company
and the Agent, assign all or a portion of its rights to any of its Affiliates.
Upon such execution, delivery, acceptance and recording, from and after the
effective date specified in each Assignment and Acceptance, (x) the assignee
thereunder shall be a party hereto and, to the extent that rights and
obligations hereunder have been assigned to it pursuant to such Assignment and
Acceptance, have the rights and obligations of a Lender hereunder and (y) the
Lender assignor thereunder shall, to the extent that rights and obligations
hereunder have been assigned

                                       39

<PAGE>

by it pursuant to such Assignment and Acceptance, relinquish its rights (other
than its rights under Section 2.10, 2.13 and 9.04 to the extent any claim
thereunder relates to an event arising prior such assignment) and be released
from its obligations under this Agreement (and, in the case of an Assignment and
Acceptance covering all or the remaining portion of an assigning Lender's rights
and obligations under this Agreement, such Lender shall cease to be a party
hereto).

            (b)   By executing and delivering an Assignment and Acceptance, the
Lender assignor thereunder and the assignee thereunder confirm to and agree with
each other and the other parties hereto as follows: (i) other than as provided
in such Assignment and Acceptance, such assigning Lender makes no representation
or warranty and assumes no responsibility with respect to any statements,
warranties or representations made in or in connection with this Agreement or
the execution, legality, validity, enforceability, genuineness, sufficiency or
value of this Agreement or any other instrument or document furnished pursuant
hereto; (ii) such assigning Lender makes no representation or warranty and
assumes no responsibility with respect to the financial condition of any
Borrower or the performance or observance by any Borrower of any of its
obligations under this Agreement or any other instrument or document furnished
pursuant hereto; (iii) such assignee confirms that it has received a copy of
this Agreement, together with copies of the financial statements referred to in
Section 4.01 and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into such
Assignment and Acceptance; (iv) such assignee will, independently and without
reliance upon the Agent, such assigning Lender or any other Lender and based on
such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under
this Agreement; (v) such assignee confirms that it is an Eligible Assignee; (vi)
such assignee appoints and authorizes the Agent to take such action as agent on
its behalf and to exercise such powers and discretion under this Agreement as
are delegated to the Agent by the terms hereof, together with such powers and
discretion as are reasonably incidental thereto; and (vii) such assignee agrees
that it will perform in accordance with their terms all of the obligations that
by the terms of this Agreement are required to be performed by it as a Lender.

            (c)   Upon its receipt of an Assignment and Acceptance executed by
an assigning Lender and an assignee representing that it is an Eligible
Assignee, together with any Note or Notes subject to such assignment, the Agent
shall, if such Assignment and Acceptance has been completed and is in
substantially the form of Exhibit C hereto, (i) accept such Assignment and
Acceptance, (ii) record the information contained therein in the Register and
(iii) give prompt notice thereof to the Company.

            (d)   The Agent shall maintain at its address referred to in Section
9.02 a copy of each Assignment and Acceptance delivered to and accepted by it
and a register for the recordation of the names and addresses of the Lenders and
the Commitment of, and principal amount of the Advances owing to, each Lender
from time to time (the "Register"). The entries in the Register shall be
conclusive and binding for all purposes, absent manifest error, and the
Borrowers, the Agent and the Lenders may treat each Person whose name is
recorded in the Register as a Lender hereunder for all purposes of this
Agreement. The Register shall be available for inspection by the Company or any
Lender at any reasonable time and from time to time upon reasonable prior
notice.

            (e)   Each Lender may sell participations to one or more banks or
other entities (other than the Company or any of its Affiliates) in or to all or
a portion of its rights and obligations under this Agreement (including, without
limitation, all or a portion of its Commitment, the Advances owing to it and any
Note or Notes held by it); provided, however, that (i) such Lender's obligations
under this Agreement (including, without limitation, its Commitment to the
Borrowers hereunder) shall remain unchanged, (ii) such Lender shall remain
solely responsible to the other parties hereto for the performance of such
obligations, (iii) such Lender shall remain the holder of any such Note for all
purposes of this Agreement, (iv) the Borrowers, the Agent and the other Lenders
shall continue to deal solely and directly with such Lender in connection with
such Lender's rights and obligations under this Agreement and (v) no participant
under any such participation shall have any right to approve any amendment or
waiver of any provision of this Agreement or any Note, or any consent to any
departure by any Borrower therefrom, except to the extent that such amendment,
waiver or consent would reduce the principal of, or interest on, the Notes or
any fees or other amounts payable hereunder, in each case to the extent subject
to such participation, or postpone any date fixed for any payment of principal
of, or interest on, the Notes or any fees or other amounts payable hereunder, in
each case to the extent subject to such participation.

                                       40

<PAGE>

            (f)   Any Lender may, in connection with any assignment or
participation or proposed assignment or participation pursuant to this Section
9.07, disclose to the assignee or participant or proposed assignee or
participant, any information relating to the Company furnished to such Lender by
or on behalf of the Company; provided that, prior to any such disclosure, the
assignee or participant or proposed assignee or participant shall agree to
preserve the confidentiality of any Confidential Information relating to the
Company received by it from such Lender.

            (g)   Notwithstanding any other provision set forth in this
Agreement, any Lender may at any time create a security interest in all or any
portion of its rights under this Agreement (including, without limitation, the
Advances owing to it and any Note or Notes held by it) in favor of any Federal
Reserve Bank in accordance with Regulation A of the Board of Governors of the
Federal Reserve System.

            (h)   Designation. (i) Notwithstanding anything to the contrary
contained herein, any Lender (a "Designating Lender") may grant to one or more
special purpose funding vehicles (each, an "SPV"), identified as such in writing
from time to time by the Designating Lender to the Agent and the Company, the
option to provide to the Borrowers all or any part of any Advance that such
Designating Lender would otherwise be obligated to make to the Borrowers
pursuant to this Agreement; provided that (A) nothing herein shall constitute a
commitment by any SPV to make any Advance, (B) if an SPV fails to provide all or
any part of such Advance, the Designating Lender shall be obligated to make such
Advance pursuant to the terms hereof and (C) the Designating Lender shall, at
all times, remain liable for any indemnity or other payment obligation with
respect to its Commitment hereunder. The making of a Advance by an SPV hereunder
shall utilize the Commitment of the Designating Lender to the same extent, and
as if such Advance were made by such Designating Lender.

            (ii)  As to any Advances or portion thereof made by it, each SPV
      shall have all the rights that the Designating Lender making such Advances
      or portion thereof would have had under this Agreement; provided, however,
      that each SPV shall have granted to its Designating Lender an irrevocable
      power of attorney, to deliver and receive all communications and notices
      under this Agreement and to exercise on such SPV's behalf, all of such
      SPV's voting rights under this Agreement. No additional Notes shall be
      required to evidence the Advances or portion thereof made by an SPV; and
      the related Designating Lender shall be deemed to hold its Note, if any,
      as agent for such SPV to the extent of the Advances or portion thereof
      funded by such SPV. In addition, any payments for the account of any SPV
      shall be paid to its Designating Lender as agent for such SPV.

            (iii) Each party hereto hereby agrees that no SPV shall be liable
      for any indemnity or payment under this Agreement for which a Lender would
      otherwise be liable. In furtherance of the foregoing, each party hereto
      hereby agrees (which agreements shall survive the termination of this
      Agreement) that, prior to the date that is one year and one day after the
      payment in full of all outstanding commercial paper or other senior
      indebtedness of any SPV, it will not institute against, or join any other
      person in instituting against, such SPV any bankruptcy, reorganization,
      arrangement, insolvency or liquidation proceedings under the laws of the
      United States or any State thereof.

            (iv)  In addition, notwithstanding anything to the contrary
      contained in this Section 9.07(h) or otherwise in this Agreement, any SPV
      may (A) at any time and without paying any processing fee therefor, assign
      or sell a participation in all or a portion of its interest in any
      Advances to the Designating Lender or to any financial institutions
      providing liquidity and/or credit support to or for the account of such
      SPV to support the funding or maintenance of Advances and (B) disclose on
      a confidential basis any non-public information relating to its Advances
      to any rating agency, commercial paper dealer or provider of any surety,
      guarantee or credit or liquidity enhancements to such SPV. This Section
      9.07(h) may not be amended without the written consent of any Designating
      Lender affected thereby.

            SECTION 9.08. Confidentiality. Neither the Agent nor any Lender
shall disclose any Confidential Information to any other Person without the
written consent of the Company, other than (a) to the Agent's or such Lender's
Affiliates and their officers, directors, employees, agents and advisors and, as
contemplated by Section 9.07(f), to actual or prospective Eligible Assignees and
participants, and then only on a confidential basis, (b) as required by any law,
rule or regulation or judicial process and (c) as requested or required by any
state, federal or foreign authority or examiner regulating banks or banking.

                                       41

<PAGE>

            SECTION 9.09. Governing Law. This Agreement and the Notes shall be
governed by, and construed in accordance with, the laws of the State of New
York.

            SECTION 9.10. Execution in Counterparts. This Agreement may be
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same
agreement. Delivery of an executed counterpart of a signature page to this
Agreement by telecopier shall be effective as delivery of a manually executed
counterpart of this Agreement.

            SECTION 9.11. Jurisdiction, Etc. (a) Each of the parties hereto
hereby irrevocably and unconditionally submits, for itself and its property, to
the nonexclusive jurisdiction of any New York State court or federal court of
the United States of America sitting in New York City, and any appellate court
from any thereof, in any action or proceeding arising out of or relating to this
Agreement or the Notes, or for recognition or enforcement of any judgment, and
each of the parties hereto hereby irrevocably and unconditionally agrees that
all claims in respect of any such action or proceeding may be heard and
determined in any such New York State court or, to the extent permitted by law,
in such federal court. Each Designated Subsidiary hereby agrees that service of
process in any such action or proceeding brought in the any such New York State
court or in such federal court may be made upon the Company at its address set
forth in Section 9.02 and each such Borrower hereby irrevocably appoints the
Company its authorized agent to accept such service of process, and agrees that
the failure of the Company to give any notice of any such service shall not
impair or affect the validity of such service or of any judgment rendered in any
action or proceeding based thereon. The Company hereby further irrevocably
consents to the service of process in any action or proceeding in such courts by
the mailing thereof by any parties hereto by registered or certified mail,
postage prepaid, to the Company at its address specified pursuant to Section
9.02. Each of the parties hereto agrees that a final judgment in any such action
or proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by law. Nothing in this
Agreement shall affect any right that any party may otherwise have to bring any
action or proceeding relating to this Agreement or the Notes in the courts of
any jurisdiction.

            (b)   Each of the parties hereto irrevocably and unconditionally
waives, to the fullest extent it may legally and effectively do so, any
objection that it may now or hereafter have to the laying of venue of any suit,
action or proceeding arising out of or relating to this Agreement or the Notes
in any New York State or federal court. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such
court.

            SECTION 9.12. Designated Subsidiaries. (a) Designation. The Company
may at any time and from time to time by delivery to the Agent of a Designation
Letter, duly executed by the Company and a wholly owned Subsidiary organized
within the United States and in substantially the form of Exhibit E hereto,
designate such Subsidiary as a "Designated Subsidiary" for all purposes of this
Agreement, and, upon fulfillment of the applicable conditions set forth in
Section 3.02 and after such Designation Letter is accepted by the Agent, such
Subsidiary shall thereupon become a Designated Subsidiary for all purposes of
this Agreement and, as such, shall have all of the rights and obligations of a
Borrower hereunder. The Agent shall promptly notify each Lender of each such
designation by the Company and the identity of each such Designated Subsidiary.

            (b)   Termination. Upon the payment and performance in full of all
of the indebtedness, liabilities and obligations of any Designated Subsidiary
under this Agreement and the Notes issued by it, then, so long as at such time
such Designated Subsidiary has not submitted a Notice of Borrowing, such
Designated Subsidiary's status as a Borrower and as a Designated Subsidiary
shall terminate upon notice to such effect from the Agent to the Lenders (which
notice the Agent shall promptly deliver to the Lenders following its receipt of
such a request from the Company). Thereafter, the Lenders shall be under no
further obligation to make any Advances to such Designated Subsidiary.

            [The remainder of this page is intentionally left blank.]

                                       42

<PAGE>

            SECTION 9.13. Waiver of Jury Trial. Each of the Borrowers, the Agent
and the Lenders hereby irrevocably waives all right to trial by jury in any
action, proceeding or counterclaim (whether based on contract, tort or
otherwise) arising out of or relating to this Agreement or the Notes or the
actions of the Agent or any Lender in the negotiation, administration,
performance or enforcement thereof.

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

                                     THE LUBRIZOL CORPORATION

                                     By_____________________________

                                       Title:

                                     By_____________________________

                                       Title:

                                     CITICORP NORTH AMERICA, INC.,
                                           as Agent

                                     By_____________________________

                                       Title:

<PAGE>

                                 Initial Lenders

Commitment

$1,100,000,000                          CITICORP NORTH AMERICA, INC.

                                        By_____________________________

                                        Title:

$435,000,000                            KeyBank National Association

                                        By_______________________

                                        Title:

$435,000,000                            ABN AMRO BANK N.V.

                                        By_______________________

                                        Title:

$250,000,000                            WACHOVIA CAPITAL INVESTMENTS, INC.

                                        By_______________________

                                        Title:

$115,000,000                            THE BANK OF TOKYO-MITSUBISHI, LTD.,
                                        CHICAGO BRANCH

                                        By_______________________

                                        Title:

$115,000,000                            PNC BANK, NATIONAL ASSOCIATION

                                        By_______________________

                                        Title:

$2,450,000,000       Total of the Commitments<PAGE>

EXHIBIT 10.1

                           [THE BANK OF NEW YORK LOGO]

                                CREDIT AGREEMENT

                           dated as of March 31, 2004

                                      among

                             THE BISYS GROUP, INC.,
                                  as Borrower,

                            The Lenders Party Hereto,

                    FLEET NATIONAL BANK, JPMORGAN CHASE BANK,

             SUNTRUST BANK and WACHOVIA BANK, NATIONAL ASSOCIATION,

                            as Documentation Agents,

                                       and

                              THE BANK OF NEW YORK,
                             as Administrative Agent

                           ---------------------------

                           BNY CAPITAL MARKETS, INC.,
                        as Lead Arranger and Book Runner

                                 Bryan Cave LLP
                           1290 Avenue of the Americas
                          New York, New York 10104-3300

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                      Page
                                                                                                                      ----
<S>                                                                                                                   <C>
ARTICLE 1. DEFINITIONS...........................................................................................       1

   SECTION 1.1     DEFINED TERMS.................................................................................       1
   SECTION 1.2     CLASSIFICATION OF LOANS AND BORROWINGS........................................................      12
   SECTION 1.3     TERMS GENERALLY...............................................................................      13
   SECTION 1.4     ACCOUNTING TERMS; GAAP........................................................................      13

ARTICLE 2. THE CREDITS...........................................................................................      13

   SECTION 2.1     COMMITMENTS...................................................................................      13
   SECTION 2.2     LOANS AND BORROWINGS..........................................................................      13
   SECTION 2.3     REQUESTS FOR REVOLVING AND TERM BORROWINGS....................................................      14
   SECTION 2.4     COMPETITIVE LOANS.............................................................................      14
   SECTION 2.5     SWINGLINE LOANS...............................................................................      16
   SECTION 2.6     FUNDING OF BORROWINGS.........................................................................      17
   SECTION 2.7     TERMINATION, REDUCTION AND INCREASE OF REVOLVING COMMITMENTS..................................      17
   SECTION 2.8     REPAYMENT OF LOANS; EVIDENCE OF DEBT..........................................................      18
   SECTION 2.9     PREPAYMENT OF LOANS...........................................................................      19
   SECTION 2.10       LETTERS OF CREDIT..........................................................................      19
   SECTION 2.11       PAYMENTS GENERALLY; PRO RATA TREATMENT; SHARING OF SETOFFS.................................      21

ARTICLE 3. INTEREST, FEES, YIELD PROTECTION, ETC.................................................................      22

   SECTION 3.1     INTEREST......................................................................................      22
   SECTION 3.2     INTEREST ELECTIONS............................................................................      23
   SECTION 3.3     FEES..........................................................................................      24
   SECTION 3.4     ALTERNATE RATE OF INTEREST....................................................................      24
   SECTION 3.5     INCREASED COSTS; ILLEGALITY...................................................................      25
   SECTION 3.6     BREAK FUNDING PAYMENTS........................................................................      26
   SECTION 3.7     TAXES.........................................................................................      26
   SECTION 3.8     MITIGATION OBLIGATIONS; REPLACEMENT OF LENDERS................................................      26

ARTICLE 4. REPRESENTATIONS AND WARRANTIES........................................................................      27

   SECTION 4.1     ORGANIZATION; POWERS..........................................................................      27
   SECTION 4.2     AUTHORIZATION; ENFORCEABILITY.................................................................      27
   SECTION 4.3     GOVERNMENTAL APPROVALS; NO CONFLICTS..........................................................      27
   SECTION 4.4     FINANCIAL CONDITION; NO MATERIAL ADVERSE CHANGE...............................................      27
   SECTION 4.5     PROPERTIES....................................................................................      28
   SECTION 4.6     LITIGATION AND ENVIRONMENTAL MATTERS..........................................................      28
   SECTION 4.7     COMPLIANCE WITH LAWS AND AGREEMENTS...........................................................      28
   SECTION 4.8     INVESTMENT AND HOLDING COMPANY STATUS.........................................................      28
   SECTION 4.9     TAXES.........................................................................................      28
   SECTION 4.10       ERISA......................................................................................      28
   SECTION 4.11       DISCLOSURE.................................................................................      29
   SECTION 4.12       SUBSIDIARIES...............................................................................      29
   SECTION 4.13       INSURANCE..................................................................................      29
   SECTION 4.14       LABOR MATTERS..............................................................................      29
   SECTION 4.15       SOLVENCY...................................................................................      29
   SECTION 4.16       FEDERAL RESERVE REGULATIONS................................................................      29

ARTICLE 5. CONDITIONS............................................................................................      30

   SECTION 5.1     CLOSING DATE..................................................................................      30
   SECTION 5.2     CONDITIONS TO EXTENSIONS OF CREDIT IN CONNECTION WITH ACQUISITIONS PERMITTED UNDER SECTION
                   7.4(L) OF THIS CREDIT AGREEMENT...............................................................      31
   SECTION 5.3     EACH CREDIT EVENT.............................................................................      31

ARTICLE 6. AFFIRMATIVE COVENANTS.................................................................................      32

   SECTION 6.1     FINANCIAL STATEMENTS AND OTHER INFORMATION....................................................      32
   SECTION 6.2     NOTICES OF MATERIAL EVENTS....................................................................      32
   SECTION 6.3     EXISTENCE; CONDUCT OF BUSINESS................................................................      33
   SECTION 6.4     PAYMENT OF OBLIGATIONS........................................................................      33
   SECTION 6.5     MAINTENANCE OF PROPERTIES.....................................................................      33
   SECTION 6.6     BOOKS AND RECORDS; INSPECTION RIGHTS..........................................................      33
</TABLE>

<PAGE>

<TABLE>
<S>                                                                                                                    <C>
   SECTION 6.7     COMPLIANCE WITH LAWS..........................................................................      33
   SECTION 6.8     USE OF PROCEEDS...............................................................................      33
   SECTION 6.9     INSURANCE.....................................................................................      34
   SECTION 6.10       ADDITIONAL SUBSIDIARIES....................................................................      34
   SECTION 6.11       ENVIRONMENTAL COMPLIANCE...................................................................      34

ARTICLE 7. NEGATIVE COVENANTSS...................................................................................      34

   SECTION 7.1     INDEBTEDNESS; EQUITY SECURITIES...............................................................      34
   SECTION 7.2     LIENS.........................................................................................      36
   SECTION 7.3     FUNDAMENTAL CHANGES; LINE OF BUSINESS; FISCAL YEAR............................................      36
   SECTION 7.4     INVESTMENTS, LOANS, ADVANCES, GUARANTEES AND ACQUISITIONS.....................................      37
   SECTION 7.5     ASSET SALES...................................................................................      38
   SECTION 7.6     SALE AND LEASE BACK TRANSACTIONS..............................................................      39
   SECTION 7.7     HEDGING AGREEMENTS............................................................................      39
   SECTION 7.8     RESTRICTED PAYMENTS...........................................................................      39
   SECTION 7.9     TRANSACTIONS WITH AFFILIATES..................................................................      39
   SECTION 7.10       RESTRICTIVE AGREEMENTS.....................................................................      39
   SECTION 7.11       AMENDMENT OF MATERIAL DOCUMENTS............................................................      40
   SECTION 7.12       FINANCIAL COVENANTS........................................................................      40

ARTICLE 8. EVENTS OF DEFAULT.....................................................................................      40

ARTICLE 9. THE ADMINISTRATIVE AGENT..............................................................................      41

ARTICLE 10. MISCELLANEOUS........................................................................................      43

   SECTION 10.1       NOTICES....................................................................................      43
   SECTION 10.2       WAIVERS; AMENDMENTS........................................................................      43
   SECTION 10.3       EXPENSES; INDEMNITY; DAMAGE WAIVER.........................................................      44
   SECTION 10.4       SUCCESSORS AND ASSIGNS.....................................................................      44
   SECTION 10.5       SURVIVAL...................................................................................      46
   SECTION 10.6       COUNTERPARTS; INTEGRATION; EFFECTIVENESS...................................................      46
   SECTION 10.7       SEVERABILITY...............................................................................      46
   SECTION 10.8       RIGHT OF SETOFF............................................................................      46
   SECTION 10.9       GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS.................................      46
   SECTION 10.10      WAIVER OF JURY TRIAL.......................................................................      47
   SECTION 10.11      HEADINGS...................................................................................      47
   SECTION 10.12      INTEREST RATE LIMITATION...................................................................      47
   SECTION 10.13      TREATMENT OF CERTAIN INFORMATION...........................................................      47
</TABLE>

<PAGE>

SCHEDULES:

<TABLE>
<S>               <C>
Schedule 1.1      List of Existing Letters of Credit
Schedule 2.1      List of Commitments
Schedule 4.6      List of Disclosed Matters
Schedule 4.12     List of Subsidiaries
Schedule 4.13     List of Insurance
Schedule 7.1      List of Existing Indebtedness
Schedule 7.2      List of Existing Liens
Schedule 7.4      List of Existing Investments
Schedule 7.10     List of Existing Restrictions
</TABLE>

EXHIBITS:

<TABLE>
<S>               <C>
Exhibit A         Form of Assignment and Acceptance
Exhibit B         Form of Opinion of Counsel to the Loan Parties
Exhibit C         Form of Credit Request
Exhibit D         Form of Note
Exhibit D-1       Form of Swingline Note
Exhibit E         Form of Guarantee Agreement
Exhibit F         Form of Compliance Certificate
Exhibit G         Form of Revolving Increase Supplement
</TABLE>

<PAGE>
\
      CREDIT AGREEMENT, dated as of March 31, 2004, among THE BISYS GROUP, INC.,
the LENDERS party hereto, FLEET NATIONAL BANK, JPMORGAN CHASE BANK, SUNTRUST
BANK and WACHOVIA BANK, NATIONAL ASSOCIATION, as Documentation Agents, and THE
BANK OF NEW YORK, as Administrative Agent.

      The parties hereto agree as follows:

                                   DEFINITIONS

      Defined Terms

            As used in this Credit Agreement, the following terms have the
meanings specified below:

            "ABR", when used in reference to any Loan or Borrowing, refers to
whether such Loan, or the Loans comprising such Borrowing, are bearing interest
at a rate determined by reference to the Alternate Base Rate.

            "Acquisition Related Contingent Payment" means a payment
constituting all or a portion of the purchase price payable in connection with
an acquisition permitted by Section 7.4(l), the maximum aggregate potential
amount of which payment cannot be determined in advance of the occurrence or
non-occurrence after the closing date of such acquisition of certain
contingencies.

            "Adjusted LIBO Rate" means, with respect to any Eurodollar Borrowing
for any Interest Period, an interest rate per annum (rounded upwards, if
necessary, to the next 1/16 of 1%) equal to (i) the LIBO Rate for such Interest
Period multiplied by (ii) the Statutory Reserve Rate.

            "Administrative Agent" means BNY, in its capacity as administrative
agent for the Lenders hereunder.

            "Administrative Questionnaire" means an Administrative Questionnaire
in a form supplied by the Administrative Agent.

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

            "Agents" means, collectively, the Administrative Agent and the
Documentation Agents.

            "Agreement Date" means the first date appearing in this Credit
Agreement.

            "Alternate 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
Alternate Base Rate due to a change in the Prime Rate or the Federal Funds
Effective Rate shall be effective from and including the effective date of such
change in the Prime Rate or the Federal Funds Effective Rate, respectively.

            "Applicable Margin" means, at all times from and after the Agreement
Date and during the applicable periods set forth below: (i) with respect to ABR
Revolving Borrowings, the percentage set forth in the following table under the
heading "Revolving ABR Margin", (ii) with respect to Eurodollar Revolving
Borrowings and fees payable under Section 3.3(b), the percentage set forth in
the following table under the heading "Revolving Eurodollar Margin and LC Fee",
(iii) with respect to ABR Term Loan Borrowings, the percentage set forth in the
following table under the heading "Term ABR Margin", and (iv) with respect to
Eurodollar Term Loan Borrowings, the percentage set forth below under the
heading "Term Eurodollar Margin":

<TABLE>
<CAPTION>
When the Total Leverage Ratio is:
---------------------------------
 greater                                                  Revolving                                Term
 than or                              Revolving           Eurodollar           Term ABR         Eurodollar
equal to           and less than      ABR Margin      Margin and LC Fee         Margin            Margin
--------           -------------      ----------      -----------------         ------            ------
<S>                <C>                <C>             <C>                      <C>              <C>
                     2.00:1.00            0%                0.800%                0%              1.000%
2.00:1.00            2.50:1.00            0%                1.025%                0%              1.250%
2.50:1.00            3.00:1.00            0%                1.250%                0%              1.500%
3.00:1.00                                 0%                1.450%                0%              1.750%
</TABLE>

<PAGE>

            Changes in the Applicable Margin resulting from a change in the
Total Leverage Ratio shall be based upon the certificate most recently delivered
under Section 6.1(c) and shall become effective on the date such certificate is
delivered to the Administrative Agent. Notwithstanding anything to the contrary
in this definition, (i) if the Borrower shall fail to deliver to the
Administrative Agent such certificate on or prior to any date required hereby,
then the Total Leverage Ratio shall be deemed to be 3.00:1.00 from and including
such required date to the date of delivery to the Administrative Agent of such
certificate, and (ii) during the period commencing on the Closing Date and
ending on the date of delivery of the first such certificate, the Total Leverage
Ratio shall be deemed to be the Total Leverage Ratio set forth in the
certificate delivered under Section 5.1(l).

            "Applicable Percentage" means, with respect to any applicable
Lender, the percentage of the total Revolving Commitments represented by such
Lender's Revolving Commitment. If the Revolving Commitments have terminated or
expired, an applicable Lender's Applicable Percentage shall be determined by
dividing (i) the sum of such Lender's Revolving Credit Exposure plus the
outstanding principal balance of such Lender's Competitive Loans by (ii) the sum
of the aggregate amount of all applicable Lenders' Revolving Credit Exposures
plus the outstanding principal balance of all applicable Lenders' Competitive
Loans.

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

            "Assignment and Acceptance" means an assignment and acceptance
entered into by a Lender and an assignee (with the consent of any party whose
consent is required by Section 10.4), and accepted by the Administrative Agent,
substantially in the form of Exhibit A or in such other form as shall be
acceptable to the Administrative Agent.

            "Availability Period" means the period from and including the
Closing Date to but excluding the earlier of the Maturity Date and, if
different, the date of termination of the Revolving Commitments.

            "BNY" means The Bank of New York.

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

            "Borrower" means The BISYS Group, Inc., a Delaware corporation.

            "Borrowing" means (i) Revolving Loans or Term Loans, as applicable,
of the same Type made, converted or continued on the same date and, in the case
of Eurodollar Loans, as to which a single Interest Period is in effect, (ii) a
Competitive Loan or a group of Competitive Loans of the same Type made on the
same date and as to which a single Interest Period is in effect or (iii) a
Swingline Loan.

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

            "Capital Expenditures" of any Person means expenditures (whether
paid in cash or other consideration or accrued as a liability) for fixed or
capital assets (excluding any capitalized interest and any such asset acquired
in connection with normal replacement and maintenance programs properly charged
to current operations and excluding any replacement assets acquired with the
proceeds of insurance) made by such Person.

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

            "Change in Control" means (a) ownership, directly or indirectly,
beneficially or of record, by any Person or group (within the meaning of the
Securities Exchange Act of 1934 and the rules of the Securities and Exchange
Commission thereunder as in effect on the date hereof), of shares representing
25% or more of the aggregate ordinary voting power or economic interests
represented by the issued and outstanding equity securities of the Borrower on a
fully diluted basis, (b) the occupation of a majority of the seats (other than
vacant seats) on the board of directors of the Borrower by Persons who were
neither (i) nominated by the board of directors of the Borrower nor (ii)
appointed by directors so nominated or (c) any change in control (or similar
event, however denominated) with respect to the Borrower or any of the
Subsidiaries shall occur under and as defined in any indenture or agreement in
respect of Indebtedness in an outstanding principal amount in excess of
$10,000,000 to which the Borrower or any Subsidiary is a party.

            "Change in Law" means (i) the adoption of any law, rule or
regulation after the Agreement Date, (ii) any change in any law, rule or
regulation or in the interpretation or application thereof by any Governmental
Authority after the Agreement Date or (iii) compliance by any Credit Party (or,
for purposes of Section 3.5(b), by any lending office of such Credit Party or by
such

<PAGE>

Credit Party's holding company, if any) with any request, guideline or directive
(whether or not having the force of law) of any Governmental Authority made or
issued after the Agreement Date.

            "Class", when used in reference to any Loan or Borrowing, refers to
whether such Loan, or the Loans comprising such Borrowing, are Revolving Loans,
Term Loans, Competitive Loans or Swingline Loans, as applicable.

            "Closing Date" means the date on which the conditions specified in
Section 5.1 are satisfied (or waived in accordance with Section 10.2).

            "Code" means the Internal Revenue Code of 1986.

            "Commitments" means, collectively, the Revolving Commitments, the
Term Commitments, the Swingline Commitment and the Letter of Credit Commitments.

            "Compensation Financing" means, as to any Subsidiary which is a
principal underwriter or distributor of shares of an Investment Company and is
so designated in such Investment Company's then effective registration
statement, either (i) the incurrence by such Subsidiary, as such principal
underwriter or distributor, of Indebtedness, the proceeds of which are loaned by
it to a broker or dealer entitled to compensation in connection with the sale of
shares of such Investment Company, which loan is to be repaid by such broker or
dealer at the time of its receipt of Contingent Deferred Sales Commissions or
12b-1 Fees to which such broker or dealer is entitled as a result of such sale
or (ii) the sale by such Subsidiary as such principal underwriter or distributor
of Contingent Deferred Sales Commissions or 12b-1 Fees to which such principal
underwriter or distributor is entitled in connection with the sale of shares of
such Investment Company.

            "Competitive Bid" means an offer by a Lender to make a Competitive
Loan in accordance with Section 2.4.

            "Competitive Bid Rate" means, with respect to any Competitive Bid,
the Margin or the Fixed Rate, as applicable, offered by the Lender making such
Competitive Bid.

            "Competitive Bid Request" means a request by the Borrower for
Competitive Bids in accordance with Section 2.4.

            "Competitive Loan" means a Loan in dollars made pursuant to Section
2.4.

            "Compliance Certificate" means a certificate, substantially in the
form of Exhibit F.

            "Consolidated Adjusted EBITDA" means for any period, Consolidated
EBITDA for such period plus the sum of, without duplication, to the extent
deducted in determining Consolidated EBITDA, an amount equal to (i) the total
fees paid to Persons in connection with the acquisition of rights permitted by
Section 7.4(k) made after the Closing Date (not in excess of $50,000,000 in the
aggregate for all such fees for all such acquisitions), minus (ii) the amount
thereof which would be amortized during such period if such fees were
amortizable and assuming a five year useful life thereof.

            "Consolidated EBITDA" means, for any period, Consolidated Net Income
for such period plus the sum of, without duplication, (i) Consolidated Interest
Expense, (ii) provision for income taxes and (iii) depreciation, amortization
and all other non-cash charges for such period of the Borrower and the
Subsidiaries determined on a consolidated basis in accordance with GAAP, each to
the extent deducted in determining Consolidated Net Income for such period and
minus the sum of non-cash gains for such period to the extent included in
determining Consolidated Net Income for such period.

            "Consolidated Fixed Charges" means, for any period, the sum for such
period of, without duplication, the following items, each for the Borrower and
the Subsidiaries on a consolidated basis in accordance with GAAP: (i) all
scheduled payments of principal of Indebtedness, (ii) all payments in respect of
Capitalized Lease Obligations, (iii) Consolidated Interest Expense, (iv)
Acquisition Related Contingent Payments (whether paid or accrued), and (iv)
regularly scheduled principal payments on Subordinated Debt to the extent the
same is permitted to be paid pursuant to the subordination provisions applicable
thereto.

            "Consolidated Interest Expense" means, for any period, the sum of,
without duplication, all interest (adjusted to give effect to all interest rate
swap, cap, collar or other interest rate hedging arrangements and non-cash
amortization of fees in connection therewith, all as determined on a
consolidated basis in accordance with GAAP), paid or accrued in respect of
Indebtedness of the Borrower and the Subsidiaries on a consolidated basis in
accordance with GAAP during such period.

            "Consolidated Net Income" means, for any period, the sum of, without
duplication, net income of the Borrower and the Subsidiaries, determined on a
consolidated basis in accordance with GAAP for such period.

            "Consolidated Net Worth" means, at any date of determination, the
sum of all amounts which would be included under shareholders' equity on a
consolidated balance sheet of the Borrower and the Subsidiaries determined on a
consolidated basis in accordance with GAAP as at such date.

<PAGE>

            "Consolidated Senior Debt" means, at any date of determination, the
aggregate funded Indebtedness (including Capital Lease Obligations) on such date
of the Borrower and the Subsidiaries on a consolidated basis in accordance with
GAAP minus Subordinated Debt.

            "Consolidated Total Assets" means, at any date of determination, the
total assets of the Borrower and the Subsidiaries determined on a consolidated
basis in accordance with GAAP as at such date.

            "Consolidated Total Debt" means, at any date of determination, the
aggregate funded Indebtedness (including Capital Lease Obligations) on such date
of the Borrower and the Subsidiaries on a consolidated basis in accordance with
GAAP.

            "Contingent Deferred Sales Commissions" means amounts owed by an
Investment Company to the principal underwriter or distributor thereof (as
designated in such Investment Company's then effective registration statement
under the 1940 Act) as repayment for expenses incurred by such principal
underwriter or distributor pursuant to a written plan adopted by the
shareholders of such Investment Company.

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

            "Credit Event" has the meaning assigned to such term in Section 5.3.

            "Credit Parties" means the Administrative Agent, the Issuing Bank
and the Lenders.

            "Credit Request" means a Credit Request, substantially in the form
of Exhibit C, or in such other form as shall be acceptable to the Administrative
Agent.

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

            "Disclosed Matters" means the actions, suits, proceedings and
environmental matters disclosed in Schedule 4.6.

            "Documentation Agents" means Fleet National Bank, JPMorgan Chase
Bank, SunTrust Bank and Wachovia Bank, National Association, in their capacities
as documentation agent for the Lenders hereunder.

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

            "Domestic Subsidiary" means a Subsidiary incorporated or organized
under the laws of the United States of America, any State thereof or the
District of Columbia.

            "Environmental Laws" means all laws, rules, regulations, codes,
ordinances, orders, decrees, judgments, injunctions, notices or binding
agreements issued, promulgated or entered into by any Governmental Authority,
relating in any way to the environment, preservation or reclamation of natural
resources, the management, release or threatened release of any Hazardous
Material or to health and safety matters.

            "Environmental Liability" means any liability, contingent or
otherwise (including any liability for damages, costs of environmental
remediation, fines, penalties or indemnities), of any Loan Party directly or
indirectly resulting from or based upon (a) violation of any Environmental Law,
(b) the generation, use, handling, transportation, storage, treatment or
disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials,
(d) the release or threatened release of any Hazardous Materials into the
environment or (e) any contract, agreement or other consensual arrangement
pursuant to which liability is assumed or imposed with respect to any of the
foregoing.

            "Equity Interest" means (i) shares of corporate stock, partnership
interests, membership interests and any other interest that confers on a Person
the right to receive a share of the profits and losses of, or a distribution of
the assets of, the issuing Person and (ii) all warrants, options or other rights
to acquire any Equity Interest set forth in clause (i) of this defined term.

            "ERISA" means the Employee Retirement Income Security Act of 1974.

            "ERISA Affiliate" means any trade or business (whether or not
incorporated) that, together with the Borrower or any Subsidiary, is treated as
a single employer under Section 414(b) or (c) of the Code or, solely for
purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a
single employer under Section 414 of the Code.

            "ERISA Event" means (i) any "reportable event", as defined in
Section 4043 of ERISA or the regulations issued thereunder with respect to a
Plan (other than an event for which the 30 day notice period is waived); (ii)
the existence with respect to

<PAGE>

any Plan of an "accumulated funding deficiency" (as defined in Section 412 of
the Code or Section 302 of ERISA), whether or not waived; (iii) the filing
pursuant to Section 412(d) of the Code or Section 303(a) of ERISA of an
application for a waiver of the minimum funding standard with respect to any
Plan; (iv) the incurrence by the Borrower or any ERISA Affiliate of any
liability under Title IV of ERISA with respect to the termination of any Plan;
(v) the receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan
administrator of any notice relating to an intention to terminate any Plan or
Plans or to appoint a trustee to administer any Plan; (vi) the incurrence by the
Borrower or any ERISA Affiliate of any liability with respect to the withdrawal
or partial withdrawal from any Plan or Multiemployer Plan; or (vii) the receipt
by the Borrower or any ERISA Affiliate of any notice, or the receipt by any
Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice,
concerning the imposition of Withdrawal Liability or a determination that a
Multiemployer Plan is, or is expected to be, insolvent or in reorganization,
within the meaning of Title IV of ERISA.

            "Eurodollar", when used in reference to any Loan or Borrowing,
refers to whether such Loan, or the Loans comprising such Borrowing, are bearing
interest at a rate determined by reference to the Adjusted LIBO Rate.

            "Event of Default" has the meaning assigned to such term in Article
8.

            "Excluded Taxes" means, with respect to any Credit Party or any
other recipient of any payment to be made by or on account of any obligation of
any Loan Party under any Loan Document, (a) income or franchise taxes imposed on
(or measured by) its net income by the United States of America, or by the
jurisdiction under the laws of which such recipient is organized or in which its
principal office is located or, in the case of any Credit Party, in which its
applicable lending office is located, (b) any branch profits taxes imposed by
the United States of America or any similar tax imposed by any other
jurisdiction in which such Loan Party is located and (c) in the case of a
Foreign Lender, any withholding tax that is imposed on amounts payable to such
Foreign Lender at the time such Foreign Lender becomes a party to this Credit
Agreement (or designates a new lending office) or is attributable to such
Foreign Lender's failure to comply with Section 3.7(e), except to the extent
that such Foreign Lender (or its assignor, if any) was entitled, at the time of
designation of a new lending office (or assignment), to receive additional
amounts from such Loan Party with respect to such withholding tax pursuant to
Section 3.7(a).

            "Exempt Subsidiary" means each Subsidiary for so long as it is (i) a
registered broker-dealer, (ii) engaged in the insurance business and subject to
net capital rules or regulations of any Governmental Authority which would treat
the Guarantee under the Guarantee Agreement as a liability for purposes thereof
if such Subsidiary was a Subsidiary Guarantor, or (iii) holding no assets and
conducting no business.

            "Existing Letter of Credit" means any Letter of Credit set forth in
Schedule 1.1, but not any renewal or extension thereof.

            "Facility Fee Percentage" means, at all times from and after the
Agreement Date and during the applicable periods set forth in the following, the
percentage set forth below under the heading "Facility Fee Percentage":

<TABLE>
<CAPTION>
       WHEN THE TOTAL LEVERAGE RATIO IS:
       ---------------------------------
greater than or equal to         and less than        Facility Fee Percentage
------------------------         -------------        -----------------------
<S>                              <C>                  <C>
                                   2.00:1.00                  0.200%
        2.00:1.00                  2.50:1.00                  0.225%
        2.50:1.00                  3.00:1.00                  0.250%
        3.00:1.00                                             0.300%
</TABLE>

            Changes in the Facility Fee Percentage resulting from a change in
the Total Leverage Ratio shall be based upon the certificate most recently
delivered under Section 6.1(c) and shall become effective on the date such
certificate is delivered to the Administrative Agent. Notwithstanding anything
to the contrary in this definition, (i) if the Borrower shall fail to deliver to
the Administrative Agent such a certificate on or prior to any date required
hereby, the Total Leverage Ratio shall be deemed to be 3.00:1.00 from and
including such date to the date of delivery to the Administrative Agent of such
certificate, and (ii) during the period commencing on the Agreement Date and
ending on the date of delivery of the first such certificate, the Total Leverage
Ratio shall be deemed to be the Total Leverage Ratio set forth in the
certificate delivered under Section 5.1(l).

            "Federal Funds Effective Rate" means, for any day, a 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 Federal Reserve Bank of New York
on the Business Day next succeeding such day, provided that (i) if the day for
which such rate is to be determined is not a Business Day, the Federal Funds
Effective 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 such rate is not so published for any day, the Federal Funds Effective
Rate for such day shall be the average of the quotations for such day on such
transactions received by BNY as determined by BNY and reported to the
Administrative Agent.

            "Financial Officer" means the chief financial officer, principal
accounting officer, treasurer or controller of the Borrower.

<PAGE>

            "Fixed Charge Coverage Ratio" means, at any date of determination,
the ratio of (i) an amount equal to Consolidated Adjusted EBITDA for the four
fiscal quarter period ending on such date or, if such date is not the last day
of a fiscal quarter, for the immediately preceding four fiscal quarter period
minus Capital Expenditures made during such period by the Borrower and the
Subsidiaries minus income taxes paid during such period to (ii) Consolidated
Fixed Charges for such period.

            "Fixed Rate" means, with respect to any Competitive Loan (other than
a Eurodollar Competitive Loan), the fixed rate of interest per annum specified
by the Lender making such Competitive Loan in its related Competitive Bid.

            "Fixed Rate Loan" means a Competitive Loan bearing interest at a
Fixed Rate.

            "Foreign Lender" means any Lender that is organized under the laws
of a jurisdiction other than that in which the applicable Loan Party is located.
For purposes of this definition, the United States of America, each State
thereof and the District of Columbia shall be deemed to constitute a single
jurisdiction.

            "Foreign Subsidiary" means any Subsidiary that is not a Domestic
Subsidiary.

            "GAAP" means generally accepted accounting principles in the United
States of America.

            "Governmental Authority" means the government of the United States
of America, any other nation or any political subdivision thereof, whether state
or local, and any agency, commission, authority, instrumentality, regulatory
body, court, central bank or other entity exercising executive, legislative,
judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government.

            "Guarantee" of or by any Person (the "guarantor") means any
obligation, contingent or otherwise, of the guarantor guaranteeing or having the
economic effect of guaranteeing any Indebtedness or other obligation of any
other Person (the "primary obligor") in any manner, whether directly or
indirectly, and including any obligation of the guarantor, direct or indirect,
(i) to purchase or pay (or advance or supply funds for the purchase or payment
of) such Indebtedness or other obligation or to purchase (or to advance or
supply funds for the purchase of) any security for the payment thereof, (ii) to
purchase or lease property, securities or services for the purpose of assuring
the owner of such Indebtedness or other obligation of the payment thereof, (iii)
to maintain working capital, equity capital or any other financial statement
condition or liquidity of the primary obligor as to enable the primary obligor
to pay such Indebtedness or other obligation or (iv) as an account party in
respect of any letter of credit or letter of guaranty issued to support such
Indebtedness or obligation, provided that the term "Guarantee" shall not include
endorsements for collection or deposit in the ordinary course of business. The
term "Guaranteed" has a meaning correlative thereto.

            "Guarantee Agreement" means the Guarantee Agreement, substantially
in the form of Exhibit E, among the Borrower, the Subsidiary Guarantors and the
Administrative Agent, for the benefit of the Credit Parties.

            "Guarantee Documents" means the Guarantee Agreement and each other
guarantee agreement, instrument or other document executed or delivered pursuant
to Section 6.10 to guarantee any of the Obligations.

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

            "Hedging Agreement" means any interest rate protection agreement,
foreign currency exchange agreement, commodity price protection agreement or
other interest or currency exchange rate or commodity price swap, cap, collar,
hedging or other like arrangement.

            "Increasing Lender" has the meaning assigned to such term in Section
2.7(d).

            "Indebtedness" of any Person means, without duplication, (i) all
obligations of such Person for borrowed money or with respect to deposits or
advances of any kind, (ii) all obligations of such Person evidenced by bonds,
debentures, notes or similar instruments, (iii) all obligations of such Person
upon which interest charges are customarily paid, (iv) all obligations of such
Person under conditional sale or other title retention agreements relating to
property acquired by such Person, (v) all obligations of such Person in respect
of the deferred purchase price of property or services (excluding accounts
payable, obligations under equipment servicing agreements and license, royalty
and similar fees, in each case incurred in the ordinary course of business),
(vi) all Indebtedness of others secured by (or for which the holder of such
Indebtedness has an existing right, contingent or otherwise, to be secured by)
any Lien on property owned or acquired by such Person, whether or not the
Indebtedness secured thereby has been assumed, (vii) all Guarantees by such
Person of Indebtedness of others, (viii) all Capital Lease Obligations of such
Person, (ix) all obligations, contingent or otherwise, of such Person as an
account party in respect of letters of credit and letters of guaranty and (x)
all obligations, contingent or otherwise, of such Person in respect of bankers'
acceptances. The Indebtedness of any Person shall include the Indebtedness of
any other entity (including any partnership in which such Person is a general
partner) to the extent such

<PAGE>

Person is liable therefor as a result of such Person's ownership interest in or
other relationship with such entity, except to the extent the terms of such
Indebtedness provide that such Person is not liable therefor.

            "Indemnified Taxes" means Taxes other than Excluded Taxes.

            "Indemnitee" has the meaning assigned to such term in Section
10.3(b).

            "Interest Election Request" means a request by the Borrower to
convert or continue a Borrowing in accordance with Section 3.2.

            "Interest Payment Date" means (i) with respect to any ABR Loan, the
last day of each March, June, September and December, (ii) with respect to any
Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing
of which such Loan is a part and, in the case of a Eurodollar Loan with an
Interest Period of more than three months' duration, each day prior to the last
day of such Interest Period that occurs at intervals of three months' duration
after the first day of such Interest Period, (iii) with respect to any Fixed
Rate Loan, the last day of the Interest Period applicable to the Borrowing of
which such Loan is a part and, in the case of a Fixed Rate Loan with an Interest
Period of more than 90 days' duration (unless otherwise specified in the
applicable Competitive Bid Request), each day prior to the last day of such
Interest Period that occurs at intervals of 90 days' duration after the first
day of such Interest Period, and any other dates that are specified in the
applicable Competitive Bid Request as Interest Payment Dates with respect to
such Borrowing, (iv) with respect to any Swingline Loan, the day that such
Swingline Loan is required to be repaid and (v) with respect to all Loans, the
Maturity Date.

            "Interest Period" means (a) with respect to any Eurodollar
Borrowing, the period commencing on the date of such Borrowing and ending on the
numerically corresponding day in the calendar month that is one, two, three or
six months thereafter, as the Borrower may elect, and (b) with respect to any
Fixed Rate Borrowing, the period (which shall not be less than seven days or
more than 180 days) commencing on the date of such Borrowing and ending on the
date specified in the applicable Competitive Bid Request, provided that (i) if
any Interest Period would end on a day other than a Business Day, such Interest
Period shall be extended to the next succeeding Business Day, unless, in the
case of a Eurodollar Borrowing only, such next succeeding Business Day would
fall in the next calendar month, in which case such Interest Period shall end on
the next preceding Business Day, and (ii) any Interest Period pertaining to a
Eurodollar Borrowing that commences on the last Business Day of a calendar month
(or on a day for which there is no numerically corresponding day in the last
calendar month of such Interest Period) shall end on the last Business Day of
the last calendar month of such Interest Period. For purposes hereof, the date
of a Borrowing initially shall be the date on which such Borrowing is made and,
in the case of a Revolving Borrowing or a Term Borrowing, thereafter shall be
the effective date of the most recent conversion or continuation of such
Borrowing.

            "Investment Company" means an investment company registered under
the 1940 Act.

            "Issuing Bank" means BNY, in its capacity as issuer of Letters of
Credit.

            "LC Disbursement" means a payment made by the Issuing Bank pursuant
to a Letter of Credit.

            "LC Exposure" means, at any time, (i) with respect to all of the
applicable Lenders, the sum, without duplication, of (a) the aggregate undrawn
amount of all outstanding Letters of Credit at such time plus (b) the aggregate
amount of all LC Disbursements that have not yet been reimbursed by or on behalf
of the Borrower at such time and (ii) with respect to each applicable Lender,
its Applicable Percentage of the amount determined under clause (i) above.

            "Lenders" means the Persons listed on Schedule 2.1 and any other
Person that shall have become a party hereto pursuant to an Assignment and
Acceptance or a Revolving Increase Supplement, other than any such Person that
ceases to be a party hereto pursuant to an Assignment and Acceptance. Unless the
context otherwise requires, the term "Lenders" shall include the Swingline
Lender.

            "Letter of Credit" means any Existing Letter of Credit and any New
Letter of Credit.

            "Letter of Credit Commitment" means, with respect to the Issuing
Bank, the commitment of the Issuing Bank to issue Letters of Credit hereunder.
The amount of the Issuing Bank's Letter of Credit Commitment is $20,000,000.

            "LIBO Rate" means, with respect to any Eurodollar Borrowing for any
Interest Period, the rate of interest per annum as determined by the
Administrative Agent, equal to the rate, as reported by BNY to the
Administrative Agent, quoted by BNY to leading banks in the London interbank
market as the rate at which BNY is offering dollar deposits in an amount
approximately equal to its ratable share of such Eurodollar Borrowing for dollar
deposits with a maturity comparable to such Interest Period at approximately
11:00 a.m., London time, two Business Days prior to the commencement of such
Interest Period.

            "Lien" means, with respect to any asset, (i) any mortgage, deed of
trust, lien, pledge, hypothecation, encumbrance, charge or security interest in,
on or of such asset, (ii) the interest of a vendor or a lessor under any
conditional sale

<PAGE>

agreement, capital lease or title retention agreement relating to such asset and
(iii) in the case of securities, any purchase option, call or similar right of a
third party with respect to such securities.

            "Loan Documents" means this Credit Agreement, the Notes, the
Guarantee Documents and the documentation in respect of each Letter of Credit.

            "Loan Parties" means the Borrower and the Subsidiary Guarantors.

            "Loans" means the loans made by the Lenders to the Borrower pursuant
to this Credit Agreement.

            "Margin" means, with respect to any Competitive Loan bearing
interest at a rate based on the Adjusted LIBO Rate, the marginal rate of
interest, if any, to be added to or subtracted from the Adjusted LIBO Rate to
determine the rate of interest applicable to such Loan, as specified by the
Lender making such Loan in its related Competitive Bid.

            "Margin Stock" has the meaning assigned to such term in Regulation
U.

            "Material Adverse Effect" means a material adverse effect on (i) the
business, assets, operations, prospects or condition, financial or otherwise, of
the Borrower and the Subsidiaries, taken as a whole, (ii) the ability of any
Loan Party to perform any of its obligations under any Loan Document, or (iii)
the rights of or benefits available to any Credit Party under any Loan Document.

            "Material Indebtedness" means Indebtedness (other than Indebtedness
under the Loan Documents) or obligations in respect of one or more Hedging
Agreements, of any one or more of the Borrower and the Subsidiaries in an
aggregate principal amount exceeding $10,000,000. For purposes of determining
Material Indebtedness, the "principal amount" of the obligations of the Borrower
or any Subsidiary in respect of any Hedging Agreement at any time shall be the
maximum aggregate amount (giving effect to any netting agreements) that the
Borrower or such Subsidiary, as applicable, would be required to pay if such
Hedging Agreement were terminated at such time.

            "Maturity Date" means the earliest to occur of (i) March 31, 2008
and (ii) the date which is 185 days prior to the maturity of the Subordinated
Notes, provided, however, that clause (ii) above shall not be applicable on and
after the date on which the Subordinated Notes shall have been refinanced by the
Subordinated Refinancing Notes.

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

            "1940 Act" means the Investment Company Act of 1940, as amended, and
the rules promulgated thereunder, as amended.

            "New Letter of Credit" means any letter of credit issued pursuant to
this Credit Agreement and any successive renewals or extensions thereof.

            "Notes" means, collectively, (i) with respect to each Lender (other
than the Swingline Lender), a promissory note evidencing such Lender's Loans
payable to the order of such Lender (or, if required by such Lender, to such
Lender and its registered assigns) substantially in the form of Exhibit D and
(ii) with respect to the Swingline Lender a promissory note evidencing such
Swingline Lender's Swingline Loans payable to the order of the Swingline Lender
substantially in the form of Exhibit D-1.

            "Obligations" means (a) the due and punctual payment of (i)
principal of and premium, if any, and interest (including interest accruing
during the pendency of any bankruptcy, insolvency, receivership or other similar
proceeding, regardless of whether allowed or allowable in such proceeding) on
the Loans, when and as due, whether at maturity, by acceleration, upon one or
more dates set for prepayment or otherwise, and (ii) each payment required to be
made by the Borrower under the Credit Agreement in respect of any Letter of
Credit, when and as due, including payments in respect of reimbursement of
disbursements, interest thereon and obligations to provide cash collateral, and
(iii) all other monetary obligations, including fees, commissions, costs,
expenses and indemnities, whether primary, secondary, direct, contingent, fixed
or otherwise (including monetary obligations incurred during the pendency of any
bankruptcy, insolvency, receivership or other similar proceeding, regardless of
whether allowed or allowable in such proceeding), of the Loan Parties to the
Credit Parties, or that are otherwise payable to any Credit Party, under the
Credit Agreement and the other Loan Documents, (b) the due and punctual
performance of all covenants, agreements, obligations and liabilities of the
Loan Parties under or pursuant to the Credit Agreement and the other Loan
Documents and (c) unless otherwise agreed upon in writing by the applicable
Lender party thereto, all obligations of the Borrower, monetary or otherwise,
under each Hedging Agreement entered into with a counterparty and that was a
Lender (or an Affiliate thereof) at the time such Hedging Agreement was entered
into.

            "Other Taxes" means any and all current or future stamp or
documentary taxes or 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, the Loan Documents.

<PAGE>

            "Participant" has the meaning assigned to such term in Section
10.4(e).

            "PBGC" means the Pension Benefit Guaranty Corporation referred to
and defined in ERISA.

            "Permitted Encumbrances" means:

                  (a)Liens imposed by law for taxes that are not yet due or are
being contested in compliance with Section 6.4;

                  (b)landlords', vendors', carriers', warehousemen's,
mechanics', materialmen's, repairmen's and other like Liens imposed by law,
arising in the ordinary course of business and securing obligations that are not
overdue by more than 30 days or are being contested in compliance with Section
6.4;

                  (c)pledges and deposits made in the ordinary course of
business in compliance with workers' compensation, unemployment insurance and
other social security laws or regulations;

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

                  (e)judgment liens in respect of judgments that do not
constitute an Event of Default under clause (k) of Article 8;

                  (f)easements, zoning restrictions, rights of way and similar
encumbrances on real property imposed by law or arising in the ordinary course
of business that do not secure any monetary obligations and do not materially
detract from the value of the affected property or interfere with the ordinary
conduct of business of the Borrower or any Subsidiary;

                  (g)Liens in favor of a financial institution encumbering
deposits (including the right of setoff) held by such financial institution in
the ordinary course of its business and which are within the general parameters
customary in the banking industry; and

                  (h)Liens on Margin Stock to the extent that a prohibition on
such Liens would violate Regulation U.

            "Permitted Investments" means:

                  (a) direct obligations of, or obligations the principal of and
interest on which are unconditionally guaranteed by, the United States of
America (or by any agency thereof to the extent that such obligations are backed
by the full faith and credit of the United States of America), in each case
maturing within six months from the date of acquisition thereof;

                  (b) dollar denominated investments in certificates of deposit,
banker's acceptances and time deposits maturing within one year from the date of
acquisition thereof issued or guaranteed by or placed with any Lender or any
other bank whose (or whose parent company's) unsecured non-credit supported
short-term commercial paper rating is (i) at least A-1 or the equivalent thereof
from Standard & Poor's Ratings Services, a division of The McGraw Hill
Companies, or any successor thereto, or (ii) at least P-1 or the equivalent
thereof from Moody's Investors Service, Inc. or any successor thereto;

                  (c) investments in commercial paper maturing within six months
from the date of acquisition thereof (i) issued by any Lender or any other bank
satisfying the criteria described in clause (b) of this definition (or by the
parent company thereof), (ii) issued by, or guaranteed by, any industrial or
financial company whose unsecured non-credit supported commercial paper rating
is (A) at least A-1 or the equivalent thereof from Standard & Poor's Ratings
Services, a division of The McGraw Hill Companies, or any successor thereto, or
(B) at least P-1 or the equivalent thereof from Moody's Investors Service, Inc.
or any successor thereto or (iii) guaranteed by any industrial or financial
company with a long term unsecured non-credit supported senior debt rating of at
least A or A-2, or the equivalent thereof, from Standard & Poor's Ratings
Services, a division of The McGraw Hill Companies, or any successor thereto or
Moody's Investors Service, Inc. or any successor thereto;

                  (d) direct obligations of, or obligations the principal of and
interest on which are unconditionally guaranteed by, any State of the United
States of America or any political subdivision of any State or any public
instrumentality thereof, in each case maturing within six months from the date
of acquisition thereof and, at the time of acquisition thereof, having one of
the two highest ratings obtainable from Standard & Poor's Ratings Services, a
division of The McGraw Hill Companies, or any successor thereto or Moody's
Investors Service, Inc. or any successor thereto;

<PAGE>

                  (e) fully collateralized repurchase agreements with a term of
not more than 30 days for securities described in clause (a) of this definition
and entered into with any Lender or any other bank satisfying the criteria
described in clause (b) of this definition; and

                  (f) investments in money market funds substantially all the
assets of which are comprised of securities of the types described in clauses
(a) through (e) of this definition.

            "Permitted Notes" has the meaning set forth in Section 7.1(a)(xvii).

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

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

            "Prime Rate" means the rate of interest per annum publicly announced
from time to time by BNY as its prime commercial lending rate at its principal
office in New York City; each change in the Prime Rate being effective from and
including the date such change is publicly announced as being effective. The
Prime Rate is not intended to be lowest rate of interest charged by BNY in
connection with extensions of credit to borrowers.

            "Prior Credit Agreement" means the Credit Agreement, dated as of
June 30, 1999, among the Borrower, the lenders party thereto JPMorgan Chase
Bank, Bank One, NA, Wachovia Bank, National Association and Fleet National Bank,
as co-agents thereunder, and The Bank of New York, as administrative agent
thereunder.

            "Prior Loan Documents" means, collectively, the Prior Credit
Agreement, all guarantees, security agreements, security agreements, mortgages
and other Loan Documents (as defined therein).

            "Register" has the meaning assigned to such term in Section 10.4(c).

            "Regulation D" means Regulation D of the Board.

            "Regulation T" means Regulation T of the Board.

            "Regulation U" means Regulation U of the Board.

            "Regulation X" means Regulation X of the Board.

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

            "Required Lenders" means, at any time, Lenders having unused
Commitments (other than the Swingline Commitment), LC Exposure, Swingline
Exposure and outstanding Loans (other than Swingline Loans) representing greater
than 50% of the sum of the unused Commitments (other than the Swingline
Commitment), LC Exposure, Swingline Exposure and outstanding Loans (other than
Swingline Loans) of all Lenders.

            "Responsible Officer" means as to any Person, its President, Chief
Financial Officer, Treasurer, General Counsel, Secretary, any Vice President,
Assistant Secretary, Assistant Treasurer, or any other individual responsible
for (i) the management of the Borrower or any of the Subsidiaries or (ii)
monitoring or ensuring compliance with the Loan Documents.

            "Restricted Payment" means, as to any Person, (i) any dividend or
other distribution by such Person (whether in cash, securities or other
property) with respect to any Equity Interests of such Person, (ii) any payment
(whether in cash, securities or other property), including any sinking fund or
similar deposit, on account of the purchase, redemption, retirement,
acquisition, cancellation or termination of any such Equity Interest, (iii) any
payment of principal or interest or any purchase, redemption, retirement,
acquisition or defeasance with respect to any Indebtedness of such Person which
is subordinated to the payment of the Obligations and (iv) the acquisition for
value by such Person of any Equity Interests issued by such Person or any other
Person that Controls such Person.

            "Revolving Commitment" means, with respect to each Lender having a
Revolving Commitment, the commitment of such Lender to make Revolving Loans and
to acquire participations in Letters of Credit and Swingline Loans hereunder in
an aggregate outstanding amount not exceeding the amount of such Lender's
Revolving Commitment as set forth on Schedule 2.1, in the initial Revolving
Increase Supplement executed and delivered by such Lender, the Borrower and the
Administrative Agent or in the Assignment and Acceptance pursuant to which such
Lender shall have assumed its Revolving Commitment, as applicable, as such

<PAGE>

Revolving Commitment may be adjusted from time to time pursuant to Section 2.7
or pursuant to assignments by or to such Lender pursuant to Section 10.4. The
initial aggregate amount of the Revolving Commitments on the Agreement Date is
$300,000,000.

            "Revolving Credit Exposure" means, with respect to any Lender at any
time, the sum of the aggregate outstanding principal amount of such Lender's
Revolving Loans, LC Exposure and Swingline Exposure at such time.

            "Revolving Increase Supplement" means an increase supplement,
substantially in the form of Exhibit G.

            "Revolving Loan" means a loan referred to in Section 2.1(a) and made
pursuant to Section 2.6.

            "Rule 12b-1" means Rule 12b-1 promulgated under the 1940 Act.

            "Securitization" means the transfer or pledge of assets or interests
in assets to a trust, partnership, corporation or other entity, which transfer
or pledge is funded by such entity in whole or in part by the issuance of
instruments or securities that are paid principally from the cash flow derived
from such assets or interests in assets.

            "Senior Leverage Ratio" means, at any date of determination, the
ratio of (i) Consolidated Senior Debt on such date to (ii) Consolidated Adjusted
EBITDA for the four fiscal quarter period ending on such date or, if such date
is not the last day of a fiscal quarter, for the immediately preceding four
fiscal quarter period. For purposes of this definition, "Consolidated Senior
Debt" shall not include any Indebtedness incurred by the Borrower or any of the
Subsidiaries in connection with Compensation Financings to the extent permitted
by Section 7.1(a)(xi).

            "Significant Subsidiary" means any Subsidiary which, as of the last
day of the most recently completed fiscal quarter, satisfies any one or more of
the following three tests: (i) the Borrower and the other Subsidiaries'
investments in and advances to such Subsidiary exceed 10% of Consolidated Total
Assets, (ii) the Borrower and the other Subsidiaries' proportionate share of
Consolidated Total Assets (after intercompany eliminations) consisting of the
property of such Subsidiary exceeds 10% of Consolidated Total Assets or (iii)
the Borrower and the other Subsidiaries' equity in the income (not to include
losses) from continuing operations before income taxes, extraordinary items and
the cumulative effect of a change in accounting principles of such Subsidiary
exceeds 10% of the income (to include losses) from continuing operations before
income taxes, extraordinary items and the cumulative effect of a change in
accounting principles of the Borrower and the Subsidiaries determined on a
consolidated basis in accordance with GAAP.

            "Statutory Reserve Rate" means a fraction (expressed as a decimal),
the numerator of which is the number one and the denominator of which is the
number one minus the aggregate of the maximum reserve percentages (including any
marginal, special, emergency or supplemental reserves) expressed as a decimal
established by the Board to which the Administrative Agent is subject for
eurocurrency funding (currently referred to as "Eurocurrency liabilities" in
Regulation D). Such reserve percentages shall include those imposed pursuant to
Regulation D. Eurodollar Loans shall be deemed to constitute eurocurrency
funding and to be subject to such reserve requirements without benefit of or
credit for proration, exemptions or offsets that may be available from time to
time to any Lender under Regulation D or any comparable regulation. The
Statutory Reserve Rate shall be adjusted automatically on and as of the
effective date of any change in any reserve percentage.

            "Subordinated Debt" means, collectively, (i) Indebtedness in respect
of the Subordinated Notes and (ii) when issued, Indebtedness in respect of the
Subordinated Refinancing Notes.

            "Subordinated Indenture" means the Subordinated Indenture, dated as
of March 14, 2001, by and between the Borrower and Chase Manhattan Trust
Company, National Association, as Trustee, pursuant to which the Borrower issued
$300,000,000 principal amount of Subordinated Notes.

            "Subordinated Notes" means the 4% Convertible Subordinated Notes,
due March 15, 2006, and issued by the Borrower pursuant to the Subordinated
Indenture.

            "Subordinated Refinancing Notes" has the meaning assigned to such
term in Section 7.1(a)(xvi).

            "subsidiary" means, with respect to any Person (the "parent"), as of
any date, any corporation, limited liability company, partnership, association
or other entity the accounts of which would be consolidated with those of the
parent in the parent's consolidated financial statements if such financial
statements were prepared in accordance with GAAP as of such date, as well as any
other corporation, limited liability company, partnership, association or other
entity of which securities or other ownership interests representing more than
50% of the equity or more than 50% of the ordinary voting power is or, in the
case of a partnership, more than 50% of the general partnership interests are,
as of such date, owned, controlled or held by the parent or one or more
subsidiaries of the parent.

            "Subsidiary" means any subsidiary of the Borrower.

<PAGE>

            "Subsidiary Guarantor" means any Domestic Subsidiary (other than an
Exempt Subsidiary) that executes and delivers the Guarantee Agreement, in each
case in accordance with Sections 5.1(g) and 6.10.

            "Supermajority Lenders" means, at any time, Lenders having unused
Commitments (other than the Swingline Commitment), LC Exposure, Swingline
Exposure and outstanding Loans (other than Swingline Loans) representing greater
than or equal to 75% of the sum of the unused Commitments (other than the
Swingline Commitment), LC Exposure, Swingline Exposure and outstanding Loans
(other than Swingline Loans) of all Lenders.

            "Swingline Commitment" means, with respect to the Swingline Lender,
the commitment of the Swingline Lender to make Swingline Loans hereunder. The
amount of the Swingline Lender's Swingline Commitment is $20,000,000.

            "Swingline Exposure" means, at any time, the aggregate outstanding
principal amount of all Swingline Loans at such time. The Swingline Exposure of
any Lender at any time shall be its Applicable Percentage of the Swingline
Exposure at such time.

            "Swingline Lender" means BNY in its capacity as lender of Swingline
Loans hereunder.

            "Swingline Loan" means a loan referred to and made pursuant to
Section 2.5.

            "Swingline Rate" means, with respect to each Swingline Loan, the
rate per annum agreed to in writing by the Borrower and the Swingline Lender in
accordance with Section 2.5(b) as the interest rate that such Swingline Loan
shall bear, provided that if the Borrower and the Swingline Lender shall have
been unable to agree upon such interest rate for such Swingline Loan, the
Swingline Rate for such Swingline Loan shall be a rate per annum equal to the
Alternate Base Rate plus the Applicable Margin.

            "Taxes" means any and all current or future taxes, levies, imposts,
duties, deductions, charges or withholdings imposed by any Governmental
Authority.

            "Term Commitment" means, with respect to each Lender having a Term
Commitment, the commitment of such Lender to make a Term Loan in an amount not
exceeding the amount of such Lender's Term Commitment as set forth on Schedule
2.1 or in the Assignment and Acceptance pursuant to which such Lender shall have
assumed its Term Commitment, as applicable, as such Term Commitment may be
adjusted from time to time pursuant to assignments by or to such Lender pursuant
to Section 10.4. The amount of each Lender's Term Commitment on the Agreement
Date is set forth on Schedule 2.1. The aggregate amount of the Term Commitments
on the Agreement Date is $100,000,000.

            "Term Loan" means a loan referred to in Section 2.1(b) and made
pursuant to Section 2.6.

            "Total Leverage Ratio" means, at any date of determination, the
ratio of (i) Consolidated Total Debt on such date to (ii) Consolidated Adjusted
EBITDA for the four fiscal quarter period ending on such date or, if such date
is not the last day of a fiscal quarter, for the immediately preceding four
fiscal quarter period. For purposes of this definition, "Consolidated Total
Debt" shall not include any Indebtedness incurred by the Borrower or any of the
Subsidiaries in connection with Compensation Financings to the extent permitted
by Section 7.1(a)(xi).

            "Transactions" means (i) the execution, delivery and performance by
each Loan Party of each Loan Document to which it is a party, (ii) the borrowing
of the Loans and the issuance of the Letters of Credit and (iii) the use of the
proceeds of the Loans and the Letters of Credit.

            "12b-1 Fees" means all fees and distribution or other expenses
incurred under a plan adopted pursuant to Rule 12b-1 under the 1940 Act.

            "Type", when used in reference to any Loan or Borrowing, refers to
whether the rate of interest on such Loan, or on the Loans comprising such
Borrowing, is determined by reference to (i) in the case of a Revolving Loan or
Borrowing, the Adjusted LIBO Rate or the Alternate Base Rate, (ii) in the case
of a Swingline Loan, the Swingline Rate or (iii) in the case of a Competitive
Loan or Borrowing, the Adjusted LIBO Rate or a Fixed Rate.

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

      Classification of Loans and Borrowings

            For purposes of this Credit Agreement, Loans may be classified and
referred to by Class (e.g., a "Revolving Loan") or by Type (e.g., a "Eurodollar
Loan") or by Class and Type (e.g., a "Eurodollar Revolving Loan"). Borrowings
may also be classified and referred to by Class (e.g., a "Revolving Borrowing")
or by Type (e.g., a "Eurodollar Borrowing") or by Class and Type (e.g., a
"Eurodollar Revolving Borrowing").

<PAGE>

      Terms Generally

            The definitions of terms herein shall apply equally to the singular
and plural forms of the terms defined. Whenever the context may require, any
pronoun shall include the corresponding masculine, feminine and neuter forms.
The words "include", "includes" and "including" shall be deemed to be followed
by the phrase "without limitation". The word "will" shall be construed to have
the same meaning and effect as the word "shall". Unless the context requires
otherwise, (i) any definition of or reference to any agreement, instrument or
other document herein shall be construed as referring to such agreement,
instrument or other document as from time to time amended, supplemented or
otherwise modified (subject to any restrictions on such amendments, supplements
or modifications set forth herein), (ii) any definition of or reference to any
law shall be construed as referring to such law as from time to time amended and
any successor thereto and the rules and regulations promulgated from time to
time thereunder, (iii) any reference herein to any Person shall be construed to
include such Person's successors and assigns, (iv) the words "herein", "hereof"
and "hereunder", and words of similar import, shall be construed to refer to
this Credit Agreement in its entirety and not to any particular provision
hereof, (v) all references herein to Articles, Sections, Exhibits and Schedules
shall be construed to refer to Articles and Sections of, and Exhibits and
Schedules to, this Credit Agreement, and (vi) the words "asset" and "property"
shall be construed to have the same meaning and effect and to refer to any and
all tangible and intangible assets and properties, including cash, securities,
accounts and contract rights. Any reference to an "applicable Lender" means (i)
in the case of Revolving Borrowings, Swingline Loans and Letters of Credit,
Lenders having a Revolving Commitment, and (ii) in the case of Term Borrowings,
Lenders having a Term Commitment or Term Loans.

      Accounting Terms; GAAP

            Except as otherwise expressly provided herein, all terms of an
accounting or financial nature shall be construed in accordance with GAAP, as in
effect from time to time, provided that, if the Borrower notifies the
Administrative Agent that the Borrower requests an amendment to any provision
hereof to eliminate the effect of any change occurring after the date hereof in
GAAP or in the application thereof on the operation of such provision (or if the
Administrative Agent notifies the Borrower that the Required Lenders request an
amendment to any provision hereof for such purpose), regardless of whether any
such notice is given before or after such change in GAAP or in the application
thereof, then such provision shall be interpreted on the basis of GAAP as in
effect and applied immediately before such change shall have become effective
until such notice shall have been withdrawn or such provision amended in
accordance herewith. Unless the context otherwise requires, any reference to a
fiscal period shall refer to the relevant fiscal period of the Borrower.

                                   THE CREDITS
      Commitments

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

            Subject to the terms and conditions hereof, each Lender having a
Term Commitment severally agrees to make a Term Loan to the Borrower in dollars
in a single draw on the Closing Date in a principal amount not exceeding such
Term Commitment. Term Loans which are prepaid or repaid, in whole or in part,
may not be reborrowed.

      Loans and Borrowings

            Each (i) Revolving Loan shall be made as part of a Borrowing
consisting of Revolving Loans made by the applicable Lenders ratably in
accordance with their respective Revolving Commitments, (ii) each Term Loan
shall be made as part of a Borrowing consisting of Term Loans made by the
applicable Lenders in accordance with their respective Term Commitments, (iii)
each Competitive Loan shall be made in accordance with the procedures set forth
in Section 2.4 and (iv) each Swingline Loan shall be made in accordance with the
procedures set forth in Section 2.5. The failure of any applicable Lender to
make any Loan required to be made by it shall not relieve any other Lender of
its obligations hereunder, provided that the Revolving Commitments, Term
Commitments and Competitive Bids of the applicable Lenders are several, and no
Lender shall be responsible for any other Lender's failure to make Loans as
required.

            Subject to Section 3.4, each (i) Revolving Borrowing shall be
comprised entirely of ABR Loans or Eurodollar Loans, as applicable, (ii) each
Term Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans, as
applicable, (iii) each Competitive Borrowing shall be comprised entirely of
Eurodollar Loans or Fixed Rate Loans, as applicable, and (iv) each Swingline
Borrowing shall be a Swingline Loan, in each case as the Borrower may request in
accordance with the provisions of this

<PAGE>

Credit Agreement. Each applicable Lender at its option may make any Eurodollar
Loan by causing any domestic or foreign branch or Affiliate of such Lender to
make such Loan, provided that any exercise of such option shall not affect the
obligation of the Borrower to repay such Loan in accordance with the terms of
this Credit Agreement.

            At the commencement of each Interest Period for any Eurodollar
Borrowing, such Borrowing shall be in an aggregate amount that is an integral
multiple of $1,000,000 and not less than $3,000,000. At the time that each ABR
Borrowing is made, such Borrowing shall be in an aggregate amount that is an
integral multiple of $500,000 and not less than $1,000,000; provided that an ABR
Revolving Borrowing may be in an aggregate amount that is equal to the entire
unused balance of the total Revolving Commitments or in an aggregate amount that
is required to finance the repayment of a Swingline Loan as contemplated by
Section 2.5(c) or the reimbursement of an LC Disbursement as contemplated by
Section 2.10(e). Each Competitive Borrowing shall be in an aggregate amount that
is an integral multiple of $1,000,000 and not less than $5,000,000. Each
Swingline Borrowing shall be in an aggregate amount that is an integral multiple
of $100,000 and not less than $500,000. Borrowings of more than one Type may be
outstanding at the same time, provided that there shall not at any time be more
than a total of ten Eurodollar Borrowings outstanding.

            Notwithstanding any other provision of this Credit Agreement, the
Borrower shall not be entitled to request, or to elect to convert or continue,
any Borrowing if the Interest Period requested with respect thereto would end
after the Maturity Date.

      Requests for Revolving and Term Borrowings

            To request a Revolving Borrowing or a Term Borrowing, the Borrower
shall deliver a Credit Request to the Administrative Agent by hand or facsimile
(or transmit by electronic communication, if arrangements for doing so have been
approved by the Administrative Agent) or notify the Administrative Agent by
telephone, in each case to be promptly confirmed by the delivery to the
Administrative Agent of a signed Credit Request (i) in the case of a Eurodollar
Borrowing, not later than 11:00 a.m., New York City time, three Business Days
before the date of the proposed Borrowing or (ii) in the case of an ABR
Borrowing, not later than 11:00 a.m., New York City time, one Business Day
before the date of the proposed Borrowing. Each such Credit Request (including
each such telephonic request) shall be irrevocable and shall specify the
following information in compliance with Section 2.2:

                  the aggregate amount of the requested Borrowing;

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

                  whether such Borrowing is to be a Revolving Borrowing or a
      Term Borrowing;

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

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

                  the location and number of the Borrower's account to which
      funds are to be disbursed, which shall comply with the requirements of
      Section 2.6.

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

      Competitive Loans

            Subject to the terms and conditions set forth herein, from time to
time during the Availability Period, the Borrower may request Competitive Bids
for Competitive Loans denominated in dollars and may (but shall not have any
obligation to) accept Competitive Bids and borrow Competitive Loans; provided
that the aggregate principal amount of outstanding Competitive Loans at any time
shall not exceed an amount equal to 50% of the total Revolving Commitments as of
the date of such Borrowing. To request Competitive Bids, the Borrower shall
notify the Administrative Agent of such request by telephone, in the case of a
Eurodollar Borrowing, not later than 11:00 a.m., New York City time, five
Business Days before the date of the proposed Borrowing and, in the case of a
Fixed Rate Borrowing, not later than 10:00 a.m., New York City time, one
Business Day before the date of the proposed Borrowing; provided that the
Borrower may submit in the aggregate up to (but not more than) four Competitive
Bid Requests on the same day, but a Competitive Bid Request shall not be made
within five Business Days after the date of any previous Competitive Bid
Request, unless any and all such previous Competitive Bid Requests shall have
been withdrawn or all Competitive Bids received in response thereto rejected.
Each such telephonic delivery or facsimile to the Administrative Agent of a
written Competitive Bid Request shall be confirmed promptly by hand delivery or
facsimile to the Administrative Agent of a written

<PAGE>

Competitive Bid Request in a form approved by the Administrative Agent and
signed by the Borrower. Each such telephonic and written Competitive Bid Request
shall specify the following information in compliance with Section 2.2:

                  the aggregate amount of the requested Borrowing;

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

                  whether such Borrowing is to be a Eurodollar Borrowing or a
      Fixed Rate Borrowing;

                  the Interest Period to be applicable to such Borrowing, which
      shall be a period contemplated by the definition of the term "Interest
      Period"; and

                  the location and number of the Borrower's account to which
      funds are to be disbursed, which shall comply with the requirements of
      Section 2.2.

Promptly following receipt of a Competitive Bid Request in accordance with this
Section, the Administrative Agent shall notify the Lenders of the details
thereof by facsimile, inviting the Lenders to submit Competitive Bids.

            Each Lender may (but shall not have any obligation to) make one or
more Competitive Bids to the Borrower in response to a Competitive Bid Request.
Each Competitive Bid by a Lender must be in a form approved by the
Administrative Agent and must be received by the Administrative Agent by
facsimile, in the case of a Eurodollar Competitive Borrowing, not later than
9:30 a.m., New York City time, three Business Days before the proposed date of
such Competitive Borrowing, and in the case of a Fixed Rate Borrowing, not later
than 9:30 a.m., New York City time, on the proposed date of such Competitive
Borrowing. Competitive Bids that do not conform substantially to the form
approved by the Administrative Agent may be rejected by the Administrative
Agent, and the Administrative Agent shall notify the applicable Lender as
promptly as practicable. Each Competitive Bid shall specify (i) the principal
amount (which shall be a minimum of $5,000,000 and an integral multiple of
$1,000,000 and which may equal the entire principal amount of the Competitive
Borrowing requested by the Borrower) of the Competitive Loan or Loans that the
Lender is willing to make, (ii) the Competitive Bid Rate or Rates at which the
Lender is prepared to make such Loan or Loans (expressed as a percentage rate
per annum in the form of a decimal to no more than four decimal places) and
(iii) the Interest Period applicable to each such Loan and the last day thereof.

            The Administrative Agent shall promptly notify the Borrower by
facsimile of the Competitive Bid Rate and the principal amount specified in each
Competitive Bid and the identity of the Lender that shall have made such
Competitive Bid.

            Subject only to the provisions of this paragraph, the Borrower may
in its sole and absolute discretion accept or reject any Competitive Bid. The
Borrower shall notify the Administrative Agent by telephone, confirmed by
facsimile in a form approved by the Administrative Agent, whether and to what
extent it has decided to accept or reject each Competitive Bid, in the case of a
Eurodollar Competitive Borrowing, not later than 10:30 a.m., New York City time,
three Business Days before the date of the proposed Competitive Borrowing, and
in the case of a Fixed Rate Borrowing, not later than 10:30 a.m., New York City
time, on the proposed date of the Competitive Borrowing; provided that (i) the
failure of the Borrower to give such notice shall be deemed to be a rejection of
each Competitive Bid, (ii) the Borrower shall not accept a Competitive Bid made
at a particular Competitive Bid Rate if the Borrower rejects a Competitive Bid
made at a lower Competitive Bid Rate, (iii) the aggregate amount of the
Competitive Bids accepted by the Borrower shall not exceed the aggregate amount
of the requested Competitive Borrowing specified in the related Competitive Bid
Request, (iv) to the extent necessary to comply with clause (iii) above, the
Borrower may accept Competitive Bids at the same Competitive Bid Rate in part,
which acceptance, in the case of multiple Competitive Bids at such Competitive
Bid Rate, shall be made pro rata in accordance with the amount of each
Competitive Bid, and (v) except pursuant to clause (iv) above, no Competitive
Bid shall be accepted for a Competitive Loan unless such Competitive Loan is in
a minimum principal amount of $5,000,000 and an integral multiple of $1,000,000;
provided further that if a Competitive Loan must be in an amount less than
$5,000,000 because of the provisions of clause (iv) above, such Competitive Loan
may be for a minimum of $1,000,000 or any integral multiple thereof, and in
calculating the pro rata allocation of acceptances of portions of multiple
Competitive Bids at a particular Competitive Bid Rate pursuant to clause (iv)
the amounts shall be rounded to integral multiples of $1,000,000 in a manner
determined by the Borrower. A notice given by the Borrower pursuant to this
paragraph shall be irrevocable.

            The Administrative Agent shall promptly notify each bidding Lender
by facsimile whether or not its Competitive Bid has been accepted (and, if so,
the amount and Competitive Bid Rate so accepted), and each successful bidder
will thereupon become bound, subject to the terms and conditions hereof, to make
the Competitive Loan in respect of which its Competitive Bid has been accepted.

            If the Administrative Agent shall elect to submit a Competitive Bid
in its capacity as a Lender, it shall submit such Competitive Bid directly to
the Borrower at least one quarter of an hour earlier than the time by which the
other Lenders are required to submit their Competitive Bids to the
Administrative Agent pursuant to paragraph (b) of this Section.

<PAGE>

      Swingline Loans

            Subject to the terms and conditions set forth herein, the Swingline
Lender agrees to make Swingline Loans to the Borrower in dollars from time to
time on any Business Day during the period from the Closing Date to the sixth
Business Day preceding the last day of the Availability Period in an aggregate
principal amount at any time outstanding that will not result in (i) the
Swingline Exposure exceeding the Swingline Commitment or (ii) the sum of the
total Revolving Credit Exposures plus the aggregate principal amount of
outstanding Competitive Loans exceeding the total Revolving Commitments,
provided that the Swingline Lender shall not be required to make a Swingline
Loan to refinance an outstanding Swingline Loan. Notwithstanding the foregoing,
the Swingline Lender shall not be required to make a Swingline Loan if (A) any
applicable Lender shall be in default of its obligations under this Credit
Agreement or (B) any Credit Party shall have notified the Swingline Lender and
the Borrower in writing at least one Business Day prior to the date of the
proposed Borrowing of such Swingline Loan that the conditions set forth in
Section 5.3 have not been satisfied and such conditions remain unsatisfied as of
the requested time of the making of such Swingline Loan, provided, further, that
the Swingline Lender shall not make such Swingline Loan if Required Lenders
shall have so notified the Administrative Agent, the Swingline Lender and the
Borrower in writing and the conditions with respect to which such notice was
provided remain unsatisfied as of the requested time of the making of such
Swingline Loan. Each Swingline Loan shall be due and payable on the maturity
thereof, provided that in no event shall such maturity be later than the sixth
Business Day preceding the Maturity Date.

            To request a Swingline Loan, the Borrower shall notify the
Administrative Agent and the Swingline Lender by telephone (confirmed by
facsimile) no later than 2:00 p.m., New York City time, on the day of the
relevant Swingline Loan. Each such notice shall be irrevocable and shall specify
(i) the aggregate principal amount to be borrowed, (ii) the requested date
(which shall be a Business Day), and (iii) the requested Swingline Rate and
maturity date of the requested Swingline Loan which shall be not later than
seven Business Days after the making of such Swingline Loan. Subject to its
agreement with the Borrower on the applicable Swingline Rate, the Swingline
Lender will make the requested amount available promptly on that same day by
means of a credit to an account designated in writing by the Borrower not less
than one Business Day prior to such Loan or, in the case of a Swingline Loan
made to finance the reimbursement of an LC Disbursement as provided in Section
2.10(e) by remittance to the Issuing Bank.

            The Swingline Lender may by written notice given to the
Administrative Agent not later than 10:00 a.m., New York City time, on any
Business Day require the applicable Lenders to acquire participations on such
Business Day in all or a portion of the Swingline Loans outstanding. Such notice
shall specify the aggregate amount of Swingline Loans in which the applicable
Lenders will participate. Promptly upon receipt of such notice, the
Administrative Agent will give notice thereof to each applicable Lender,
specifying in such notice such applicable Lender's Applicable Percentage of such
Swingline Loan or Swingline Loans. Each applicable Lender hereby absolutely and
unconditionally agrees, upon receipt of notice as provided above, to pay to the
Administrative Agent, for the account of the Swingline Lender, such Lender's
Applicable Percentage of such Swingline Loan or Swingline Loans. Each applicable
Lender acknowledges and agrees that its obligation to acquire participations in
Swingline Loans pursuant to this paragraph is absolute and unconditional and
shall not be affected by any circumstance whatsoever, including the occurrence
and continuance of a Default or reduction or termination of the Revolving
Commitments, and that each such payment shall be made without any offset,
abatement, withholding or reduction whatsoever. Each applicable Lender shall
comply with its obligation under this paragraph by wire transfer of immediately
available funds, in the same manner as provided in Section 2.6 with respect to
Revolving Loans made by such Lender (and Section 2.6 shall apply, mutatis
mutandis, to the payment obligations of the Lenders), and the Administrative
Agent shall promptly pay to the Swingline Lender the amounts so received by it
from the applicable Lenders. The Administrative Agent shall notify the Borrower
of any participations in any Swingline Loan acquired pursuant to this paragraph,
and thereafter payments in respect of such Swingline Loan shall be made to the
Administrative Agent and not to the Swingline Lender. Any amounts received by
the Swingline Lender from the Borrower (or other party on behalf of the
Borrower) in respect of a Swingline Loan after receipt by the Swingline Lender
of the proceeds of a sale of participations therein shall be promptly remitted
to the Administrative Agent; any such amounts received by the Administrative
Agent shall be promptly remitted by the Administrative Agent to the applicable
Lenders that shall have made their payments pursuant to this paragraph and to
the Swingline Lender, as their interests may appear. The purchase of
participations in a Swingline Loan pursuant to this paragraph shall not relieve
the Borrower of any default in the payment thereof.

            The Swingline Lender may by written notice given to the
Administrative Agent not later than 10:00 a.m., New York City time, on any
Business Day notify the Administrative Agent that the Swingline Lender is
requesting that the applicable Lenders make an ABR Revolving Borrowing in an
amount equal to the outstanding principal balance and accrued interest on the
Swingline Loans, in which case (i) the Administrative Agent shall notify each
applicable Lender of the details thereof and of the amount of such Lender's Loan
to be made as part of such ABR Revolving Borrowing, and (ii) each Lender shall,
whether or not any Default shall have occurred and be continuing, any
representation or warranty shall be accurate, any condition to the making of any
loan hereunder shall have been fulfilled, or any other matter whatsoever, make
the Loan to be made by it under this paragraph by wire transfer of immediately
available funds to the account of the Administrative Agent most recently
designated by it for such purpose by notice to the Lenders, (A) on such date, in
the event that such Lender shall have received notice of such ABR Revolving
Borrowing prior to 12:00 noon, New York City time, or (B) if such notice has not
been received by such Lender prior to such time on such date, then not later
than 1:00 p.m., New York City time, on (X) the Business Day that such Lender
receives such notice, if such notice is received prior to 12:00 noon, New York
City time, on the day of receipt or (Y) the Business Day immediately following
the day that such Lender receives such notice, if such notice is not received
prior to such time on the day of receipt. Such Loans shall, for all purposes
hereof, be deemed to be an ABR Revolving Borrowing referred to in Section 2.1(a)
and made pursuant to Section 2.3, and the Lenders obligations to make such Loans
shall be absolute and unconditional. The Administrative Agent will make such

<PAGE>

Loans available to the Swingline Lender by promptly crediting or otherwise
transferring the amounts so received, in like funds, to the Swingline Lender for
the purpose of repaying in full the Swingline Loans and all accrued interest
thereon.

      Funding of Borrowings

            Each Lender shall make each Loan to be made by it hereunder on the
proposed date thereof by wire transfer of immediately available funds by 1:00
p.m., New York City time, to the account of the Administrative Agent most
recently designated by it for such purpose by notice to the Lenders, provided
that Swingline Loans shall be made as provided in Section 2.5(a). Subject to
Section 5.3, the Administrative Agent will make such Loans available to the
Borrower by promptly crediting or otherwise transferring the amounts so
received, in like funds, to an account of the Borrower maintained with the
Administrative Agent and designated by the Borrower in the applicable Credit
Request or Competitive Bid Request, provided that ABR Revolving Loans made to
finance the reimbursement of an LC Disbursement as provided in Section 2.10(e)
shall be remitted by the Administrative Agent to the Issuing Bank, provided,
further that ABR Revolving Loans made to finance the repayment of a Swingline
Loan as provided in Section 2.5(d) shall be remitted by the Administrative Agent
to the Swingline Lender.

            Unless the Administrative Agent shall have received notice from a
Lender prior to the proposed date of any Borrowing that such Lender will not
make available to the Administrative Agent such Lender's share of such
Borrowing, the Administrative Agent may assume that such Lender has made such
share available on such date in accordance with Section 2.6(a), Section 2.5(c)
or Section 2.10(e) and may, in reliance upon such assumption, make available to
the Borrower, the Issuing Bank or the Swingline Lender, as applicable, a
corresponding amount. In such event, if a Lender has not in fact made its share
of the applicable Borrowing available to the Administrative Agent, then the
applicable Lender and the Borrower severally agree to pay to the Administrative
Agent forthwith on demand such corresponding amount with interest thereon, for
each day from and including the date such amount is made available to the
Borrower, the Issuing Bank or the Swingline Lender, as applicable, to but
excluding the date of payment to the Administrative Agent, at (i) in the case of
such Lender, the greater of the Federal Funds Effective Rate and a rate
determined by the Administrative Agent in accordance with banking industry rules
on interbank compensation or (ii) in the case of the Borrower, the interest rate
that would be otherwise applicable to such Borrowing. If such Lender pays such
amount to the Administrative Agent, then such amount shall constitute such
Lender's Loan included in such Borrowing.

      Termination, Reduction and Increase of Revolving Commitments

            Unless previously terminated, the Term Commitments shall terminate
upon the making of the Term Loans on the Closing Date and the Revolving
Commitments (together with the Letter of Credit Commitment and the Swingline
Commitment) shall terminate on the last day of the Availability Period.

            The Borrower may at any time terminate, or from time to time reduce,
the Revolving Commitments, provided that (i) the Borrower shall not terminate or
reduce the Revolving Commitments if, after giving effect to any concurrent
prepayment of the Revolving Loans in accordance with Section 2.9, the sum of the
Revolving Credit Exposures plus the aggregate principal amount of outstanding
Competitive Loans would exceed the total Revolving Commitments (ii) each such
reduction of the Revolving Commitments shall be in an amount that is an integral
multiple of $1,000,000 and not less than $3,000,000, and (iii) any reduction of
the Revolving Commitments to an amount below the LC Commitment or the Swingline
Commitment shall be automatically reduce the LC Commitment or the Swingline
Commitment, as applicable on a dollar for dollar basis.

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

            The Borrower may at any time and from time to time at its sole cost,
expense and effort, request any one or more of the Lenders having a Revolving
Commitment to increase its Revolving Commitment (the decision to increase the
Revolving Commitment of a Lender to be within the sole and absolute discretion
of such Lender), or any other Person reasonably satisfactory to the
Administrative Agent, the Swingline Lender and the Issuing Bank to provide a new
Revolving Commitment, by submitting to the Administrative Agent, the Swingline
Lender and the Issuing Bank a Revolving Increase Supplement duly executed by the
Borrower and each such Lender or other Person, as the case may be. The
Administrative Agent shall, subject to the negotiation of mutually acceptable
fees, use commercially reasonable efforts to secure such increased or new
Revolving Commitments on behalf of the Borrower. If such Revolving Increase
Supplement is in all respects reasonably satisfactory to the Administrative
Agent, the Swingline Lender and the Issuing Bank, it shall execute such
Revolving Increase Supplement and the Administrative Agent shall deliver a copy
thereof to the Borrower and each such Lender or other Person, as the case may
be. Upon execution and delivery of such Revolving Increase Supplement by the
Administrative Agent, the Swingline Lender and the Issuing Bank, (x) in the case
of each such Lender, its Revolving Commitment shall be increased to the amount
set forth in such Revolving Increase Supplement, (y) in the

<PAGE>

case of each such other Person, such other Person shall become a party hereto
and have the rights and obligations of a Lender under the Loan Documents and its
Revolving Commitment shall be as set forth in such Revolving Increase
Supplement; provided that:

                  immediately after giving effect thereto, the sum of all
      increases in the aggregate Revolving Commitments made pursuant to this
      Section 2.7(d) shall not exceed $100,000,000 and the total Revolving
      Commitments shall not exceed $400,000,000;

                  each such increase of the aggregate Revolving Commitments
      shall be in an amount not less than $10,000,000 or such amount plus an
      integral multiple of $5,000,000;

                  if Revolving Loans would be outstanding immediately after
      giving effect to any such increase, then simultaneously with such increase
      (1) each such increasing Lender, each such other Person and each other
      Lender having a Revolving Commitment shall be deemed to have entered into
      a master assignment and acceptance agreement, in form and substance
      substantially similar to Exhibit A, pursuant to which each such other
      Lender shall have assigned to each such increasing Lender and each such
      other Person a portion of its Revolving Loans necessary to reflect
      proportionately the Revolving Commitments as adjusted in accordance with
      this subsection (f), and (2) in connection with such assignment, each such
      increasing Lender and each such other Person shall pay to the
      Administrative Agent, for the account of each such other Lender, such
      amount as shall be necessary to reflect the assignment to it of Revolving
      Loans, and in connection with such master assignment each such other
      Lender may treat the assignment of Eurodollar Borrowings as a prepayment
      of such Eurodollar Borrowings for purposes of Section 3.6; and

                  each such other Person shall have delivered to the
      Administrative Agent and the Borrower all forms, if any, that are required
      to be delivered by such other Person pursuant to Section 3.7.

      Repayment of Loans; Evidence of Debt

            The Borrower hereby unconditionally promises to pay (i) to the
Administrative Agent for the account of each applicable Lender the then unpaid
principal amount of each Revolving Loan and Term Loan on the Maturity Date, (ii)
to the Administrative Agent for the account of each Lender which has made a
Competitive Loan, the then unpaid principal of such Lender's Competitive Loan on
the last day of the Interest Period applicable thereto, and (iii) to the
Swingline Lender the then unpaid principal amount of each Swingline Loan on the
earlier of (x) the maturity date selected by the Borrower for such Swingline
Loan and (y) the Maturity Date.

            On each date set forth below, the aggregate unpaid principal balance
of the Term Loans shall be due and payable in an amount equal to the amount set
forth in the following table adjacent to such date under the heading "Amount":

<TABLE>
<CAPTION>
       DATE                                AMOUNT
       ----                                ------
<S>                              <C>
  June 30, 2005                         $ 6,250,000
September 30, 2005                      $ 6,250,000
December 31, 2005                       $ 6,250,000
  March 31, 2006                        $ 6,250,000
  June 30, 2006                         $ 6,250,000
September 30, 2006                      $ 6,250,000
December 31, 2006                       $ 6,250,000
  March 31, 2007                        $ 6,250,000
  June 30, 2007                         $12,500,000
September 30, 2007                      $12,500,000
December 31, 2007                       $12,500,000
  Maturity Date                  remaining unpaid principal
                                 balance of the Term Loans
</TABLE>

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

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

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

<PAGE>

            The Loans made by each Lender (other than the Swingline Lender)
shall be evidenced by a Note payable to the order of such Lender, substantially
in the form of Exhibit D and the Swingline Loans made by the Swingline Lender
shall be evidenced by a Note payable to the order of the Swingline Lender,
substantially in the form of Exhibit D-1. In addition, if requested by a Lender,
its Note (or, in the case of the Swingline Lender, Notes) may be made payable to
such Lender and its registered assigns in which case all Loans evidenced by such
Note and interest thereon shall at all times (including after assignment
pursuant to Section 10.4) be represented by one or more Notes in like form
payable to the order of the payee named therein and its registered assigns.

      Prepayment of Loans

            Voluntary Prepayments. The Borrower shall have the right at any time
and from time to time to prepay any Borrowing in whole or in part, subject to
the requirements of this Section, provided that Competitive Loans and Swingline
Loans may not be voluntarily prepaid.

            Prepayments Resulting from the Reduction of the Total Revolving
Commitments. In the event of any partial reduction or termination of the
Revolving Commitments, then (i) at or prior to the date of such reduction or
termination, the Administrative Agent shall notify the Borrower and the
applicable Lenders of the sum of the Revolving Credit Exposures plus the
aggregate principal balance of outstanding Competitive Loans after giving effect
thereto and (ii) if such sum would exceed the total Revolving Commitments after
giving effect to such reduction or termination, then the Borrower shall, on the
date of such reduction or termination, prepay Revolving Borrowings in an amount
sufficient to eliminate such excess.

            Notice of Prepayment; Application of Prepayments. The Borrower shall
notify the Administrative Agent by telephone (confirmed by facsimile) of any
prepayment hereunder (i) in the case of a prepayment of a Eurodollar Borrowing,
not later than 11:00 a.m., New York City time, three Business Days before the
date of prepayment or (ii) in the case of prepayment of an ABR Borrowing, not
later than 11:00 a.m., New York City time, one Business Day before the date of
prepayment. Each such notice shall be irrevocable and shall specify the
prepayment date and the principal amount of each Borrowing or portion thereof to
be prepaid, provided that if a notice of prepayment is given in connection with
a conditional notice of termination of the Revolving Commitments as contemplated
by Section 2.7, then such notice of prepayment may be revoked if such notice of
termination is revoked in accordance with Section 2.7. Promptly following
receipt of any such notice relating to a Borrowing, the Administrative Agent
shall advise the Lenders of the contents thereof. Each partial prepayment of any
Revolving Borrowing under Section 2.9(a) shall, when added to the amount of each
concurrent reduction of the Revolving Commitments and prepayment of Revolving
Borrowings under such Sections, be in an integral multiple of $1,000,000 and not
less than $3,000,000. Each partial prepayment of any Term Borrowing under
Section 2.9(a) shall be in an integral multiple of $1,000,000 and not less than
$3,000,000. Each prepayment of a Borrowing shall be applied ratably to the Loans
included in the prepaid Borrowing. Each prepayment of Term Loans shall be
applied to the remaining installments of principal required under Section 2.8(b)
in the inverse order of maturity. Prepayments shall be accompanied by accrued
interest to the extent required by Section 3.1.

            All prepayments shall be subject to Section 3.6, if applicable.

      Letters of Credit

            General. Subject to the terms and conditions set forth herein, the
Borrower may request the issuance of New Letters of Credit denominated in
dollars for its own account, in a form reasonably acceptable to the
Administrative Agent and the Issuing Bank, at any time and from time to time
during the period from the Closing Date to the tenth Business Day preceding the
last day of the Availability Period. In the event of any inconsistency between
the terms and conditions of this Credit Agreement and the terms and conditions
of any form of letter of credit application or other agreement submitted by the
Borrower to, or entered into by the Borrower with, the Issuing Bank relating to
any Letter of Credit, the terms and conditions of this Credit Agreement shall
control.

            Notice of Issuance; Amendment; Renewal; Extension; Certain
Conditions. To request the issuance of a New Letter of Credit (or the amendment,
renewal or extension of an outstanding Letter of Credit), the Borrower shall
hand deliver or facsimile (or transmit by electronic communication, if
arrangements for doing so have been approved by the Issuing Bank) to the Issuing
Bank and the Administrative Agent (not later than three Business Days before the
requested date of issuance, amendment, renewal or extension) a Credit Request
requesting the issuance of a New Letter of Credit, or identifying the New Letter
of Credit to be amended, renewed or extended, and specifying the date of
issuance, amendment, renewal or extension (which shall be a Business Day), the
date on which such New Letter of Credit is to expire (which shall comply with
paragraph (c) of this Section), the amount of such New Letter of Credit, the
name and address of the beneficiary thereof and such other information as shall
be necessary to prepare, amend, renew or extend such New Letter of Credit. If
requested by the Issuing Bank, the Borrower also shall submit a letter of credit
application on the Issuing Bank's standard form in connection with any request
for a New Letter of Credit. A New Letter of Credit shall be issued, amended,
renewed or extended only if (and, upon issuance, amendment, renewal or extension
of each New Letter of Credit, the Borrower shall be deemed to represent and
warrant that), after giving effect to such issuance, amendment, renewal or
extension, (i) the LC Exposure shall not exceed the Letter of Credit Commitment
and (ii) the total Revolving Credit Exposures plus the aggregate principal
amount of outstanding Competitive Loans shall not exceed the total Revolving
Commitments.

            Expiration Date. Each New Letter of Credit shall expire at or prior
to the close of business on the earlier of (i) the date that is one year after
the date of the issuance of such New Letter of Credit (or, in the case of any
renewal or extension thereof, one year after such renewal or extension) and (ii)
the date that is ten Business Days prior to the Maturity Date, provided that any
New

<PAGE>

Letter of Credit may provide for the renewal thereof for additional one year
periods (which shall in no event extend beyond the date that is ten Business
Days prior to the Maturity Date).

            Participations. By the issuance of a New Letter of Credit (or an
amendment to a New Letter of Credit increasing the amount thereof) or, in the
case of an Existing Letter of Credit, the execution and delivery of this Credit
Agreement, and without any further action on the part of the Issuing Bank or the
Lenders, the Issuing Bank hereby grants to each Lender having a Revolving
Commitment, and each such Lender hereby acquires from the Issuing Bank, a
participation in each Letter of Credit equal to such Lender's Applicable
Percentage of the aggregate amount available to be drawn under such Letter of
Credit. In consideration and in furtherance of the foregoing, each such Lender
hereby absolutely and unconditionally agrees to pay to the Administrative Agent,
for the account of the Issuing Bank, such Lender's Applicable Percentage of each
LC Disbursement made by the Issuing Bank and not reimbursed by the Borrower on
the date due as provided in paragraph (e) of this Section, or of any
reimbursement payment required to be refunded to the Borrower for any reason.
Each such Lender acknowledges and agrees that its obligation to acquire
participations pursuant to this paragraph in respect of Letters of Credit is
absolute and unconditional and shall not be affected by any circumstance
whatsoever, including any amendment, renewal or extension of any Letter of
Credit or the occurrence and continuance of a Default or reduction or
termination of the Revolving Commitments, and that each such payment shall be
made without any offset, abatement, withholding or reduction whatsoever;
provided, however, that no Lender shall be obligated to make any payment to the
Administrative Agent for any wrongful LC Disbursement made by the Issuing Bank
as a result of acts or omissions constituting willful misconduct or gross
negligence on the part of the Issuing Bank.

            Reimbursement. If the Issuing Bank shall make any LC Disbursement in
respect of a Letter of Credit, the Borrower shall reimburse such LC Disbursement
by paying to the Administrative Agent an amount equal to such LC Disbursement
not later than 4:00 p.m., New York City time, on the date that such LC
Disbursement is made, if the Borrower shall have received written notice (by
hand delivery or telecopy) of such LC Disbursement prior to 12:00 noon, New York
City time, on such date, or if such written notice has not been received by the
Borrower prior to such time on such date, then not later than 4:00 p.m., New
York City time, on (i) the Business Day that the Borrower receives such written
notice, if such written notice is received prior to 12:00 noon, New York City
time, on the day of receipt or (ii) the Business Day immediately following the
day that the Borrower receives such written notice, if such written notice is
not received prior to such time on the day of receipt, provided that (A) in
addition to such written notice, (x) the officers of the Administrative Agent
primarily responsible for the administration of this Agreement shall, promptly
after they receive notice that a draft in respect of such LC Disbursement has
been presented to the Issuing Bank, use reasonable efforts to notify the
Borrower of such draft by telephone and (y) the Administrative Agent shall,
promptly after it receives notice that such LC Disbursement has been made, use
reasonable efforts to notify the Borrower of such LC Disbursement by telephone
prior to the delivery of such written notice, provided, further, that the
failure of the Borrower to receive any such telephonic notice from the
Administrative Agent or any officer thereof shall not in any manner affect the
Borrower's obligation to reimburse such LC Disbursement in accordance with the
terms of this Section, and (B) if such LC Disbursement is not less than
$500,000, the Borrower may, subject to the conditions of borrowing set forth
herein, request in accordance with Section 2.3 or 2.5 that such payment be
financed with an ABR Revolving Borrowing or a Swingline Loan in an equivalent
amount and, to the extent so financed, the Borrower's obligation to make such
payment shall be discharged and replaced by the resulting ABR Borrowing or
Swingline Loan, as applicable. If the Borrower fails to make such payment under
this paragraph when due, the Administrative Agent shall notify each Lender of
the applicable LC Disbursement, the payment then due from the Borrower in
respect thereof and such Lender's Applicable Percentage thereof. Promptly
following receipt of such notice, each Lender shall pay to the Administrative
Agent its Applicable Percentage of the payment then due from the Borrower, in
the same manner as provided in Section 2.6 with respect to Loans made by such
Lender (and Section 2.6 shall apply, mutatis mutandis, to the payment
obligations of the Lenders), and the Administrative Agent shall promptly pay to
the Issuing Bank the amounts so received by it from the Lenders. Promptly
following receipt by the Administrative Agent of any payment from the Borrower
pursuant to this paragraph, the Administrative Agent shall distribute such
payment to the Issuing Bank or, to the extent that Lenders have made payments
pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders
and the Issuing Bank as their interests may appear. Any payment made by a Lender
pursuant to this paragraph to reimburse the Issuing Bank for any LC Disbursement
(other than the funding of ABR Revolving Loans or Swingline Loans as
contemplated above) shall not constitute a Loan and shall not relieve the
Borrower of its obligation to reimburse such LC Disbursement.

            Obligations Absolute. The Borrower's obligations to reimburse LC
Disbursements as provided in paragraph (e) of this Section shall be absolute,
unconditional and irrevocable, and shall be performed strictly in accordance
with the terms of this Credit Agreement under any and all circumstances
whatsoever and irrespective of (i) any lack of validity or enforceability of any
Letter of Credit or any Loan Document, or any term or provision therein, (ii)
any draft or other document presented under a Letter of Credit proving to be
forged, fraudulent, insufficient or invalid in any respect or any statement
therein being untrue or inaccurate in any respect, (iii) payment by the Issuing
Bank under a Letter of Credit against presentation of a draft or other document
that does not comply with the terms of such Letter of Credit, or any other event
or circumstance whatsoever, whether or not similar to any of the foregoing, that
might, but for the provisions of this Section, constitute a legal or equitable
discharge of, or provide a right of setoff against, the Borrower's obligations
hereunder. Neither any Credit Party nor any of their respective Related Parties
shall have any liability or responsibility by reason of or in connection with
the issuance or transfer of any Letter of Credit or any payment or failure to
make any payment thereunder (irrespective of any of the circumstances referred
to in the preceding sentence), or any error, omission, interruption, loss or
delay in transmission or delivery of any draft, notice or other communication
under or relating to any Letter of Credit (including any document required to
make a drawing thereunder), any error in interpretation of technical terms or
any consequence arising from causes beyond the control of the Issuing Bank;
provided that the foregoing shall not be construed to excuse the Issuing Bank
from liability to the Borrower to the extent of any direct damages (as opposed
to consequential damages, claims in respect of which are hereby waived by the
Borrower to the extent permitted by applicable law) suffered by the Borrower
that are

<PAGE>

caused by the Issuing Bank's failure to exercise care when determining whether
drafts and other documents presented under a Letter of Credit comply with the
terms thereof. The parties hereto expressly agree that, in the absence of gross
negligence or willful misconduct on the part of the Issuing Bank (as finally
determined by a court of competent jurisdiction), the Issuing Bank shall be
deemed to have exercised care in each such determination. In furtherance of the
foregoing and without limiting the generality thereof, the parties agree that,
with respect to documents presented which appear on their face to be in
substantial compliance with the terms of a Letter of Credit, the Issuing Bank
may, in its sole discretion, either accept and make payment upon such documents
without responsibility for further investigation, regardless of any notice or
information to the contrary, or refuse to accept and make payment upon such
documents if such documents are not in strict compliance with the terms of such
Letter of Credit.

            Disbursement Procedures. The Issuing Bank shall, promptly following
its receipt thereof, examine all documents purporting to represent a demand for
payment under a Letter of Credit. The Issuing Bank shall promptly notify (which
may include telephonic notice, promptly confirmed by facsimile) the
Administrative Agent and the Borrower of such demand for payment and whether the
Issuing Bank has made or will make an LC Disbursement thereunder; provided that
any failure to give or delay in giving such notice shall not relieve the
Borrower of its obligation to reimburse the Issuing Bank and the applicable
Lenders with respect to any such LC Disbursement.

            Interim Interest. If the Issuing Bank shall make any LC
Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in
full on the date such LC Disbursement is made, the unpaid amount thereof shall
bear interest, for each day from and including the date such LC Disbursement is
made to but excluding the date that the Borrower reimburses such LC
Disbursement, at the rate per annum then applicable to ABR Revolving Loans;
provided that, if the Borrower fails to reimburse such LC Disbursement when due
pursuant to paragraph (e) of this Section, then Section 3.1(d) shall apply.
Interest accrued pursuant to this paragraph shall be for the account of the
Issuing Bank, except that interest accrued on and after the date of payment by
any Lender pursuant to paragraph (e) of this Section to reimburse the Issuing
Bank shall be for the account of such Lender to the extent of such payment.

            Cash Collateral. If any Event of Default shall occur and be
continuing, on the Business Day that the Borrower receives notice from the
Administrative Agent or the Required Lenders (or, if the maturity of the Loans
has been accelerated, Lenders with LC Exposure representing greater than 50% of
the total LC Exposure) demanding the deposit of cash collateral pursuant to this
paragraph, the Borrower shall deposit in an account with the Administrative
Agent, in the name of the Administrative Agent and for the benefit of the
applicable Lenders, an amount in cash equal to the LC Exposure as of such date
plus any accrued and unpaid interest thereon; provided that the obligation to
deposit such cash collateral shall become effective immediately, and such
deposit shall become immediately due and payable, without demand or other notice
of any kind, upon the occurrence of any Event of Default with respect to the
Borrower described in clause (h) or (i) of Article 8. Such deposit shall be held
by the Administrative Agent as collateral for the payment and performance of the
obligations of the Borrower under this Credit Agreement. The Administrative
Agent shall have exclusive dominion and control, including the exclusive right
of withdrawal, over such account. Such deposit shall not bear interest, nor
shall the Administrative Agent be under any obligation whatsoever to invest the
same, provided, however, that, at the request of the Borrower, such deposit
shall be invested by the Administrative Agent in direct short term obligations
of, or short term obligations the principal of and interest on which are
unconditionally guaranteed by, the United States of America, in each case
maturing no later than the expiry date of the Letter of Credit giving rise to
the relevant LC Exposure. Interest or profits, if any, on such investments shall
accumulate in such account. Moneys in such account shall be applied by the
Administrative Agent to reimburse the Issuing Bank for LC Disbursements for
which it has not been reimbursed and, to the extent not so applied, shall be
held for the satisfaction of the reimbursement obligations of the Borrower for
the LC Exposure at such time or, if the maturity of the Loans has been
accelerated (but subject to the consent of Lenders with LC Exposure representing
greater than 50% of the total LC Exposure), be applied to satisfy other
obligations of the Borrower under this Credit Agreement. If the Borrower is
required to provide an amount of cash collateral hereunder as a result of the
occurrence of an Event of Default, such amount (to the extent not applied as
aforesaid) shall be returned to the Borrower within three Business Days after
all Events of Default have been cured or waived.

      Payments Generally; Pro Rata Treatment; Sharing of Setoffs

            Each Loan Party shall make each payment required to be made by it
hereunder or under any other Loan Document (whether of principal of Loans, LC
Disbursements, interest or fees, or of amounts payable under Sections 3.5, 3.6,
3.7 or 10.3, or otherwise) prior to 12:00 noon, New York City time, on the date
when due, in immediately available funds, without setoff or counterclaim. Any
amounts received after such time on any date may, in the discretion of the
Administrative Agent, be deemed to have been received on the next succeeding
Business Day for purposes of calculating interest thereon. All such payments
shall be made to the Administrative Agent at its office at One Wall Street, New
York, New York, or such other office as to which the Administrative Agent may
notify the other parties hereto, except payments to be made to the Issuing Bank
or Swingline Lender as expressly provided herein and except that payments
pursuant to Sections 3.5, 3.6, 3.7 and 10.3 shall be made directly to the
Persons entitled thereto. The Administrative Agent shall distribute any such
payments received by it for the account of any other Person to the appropriate
recipient promptly following receipt thereof. If any payment hereunder shall be
due on a day that is not a Business Day, the date for payment shall be extended
to the next succeeding Business Day, and, in the case of any payment accruing
interest, interest thereon shall be payable for the period of such extension.
All payments hereunder shall be made in dollars.

            Each Borrowing, each payment or prepayment of principal of any
Borrowing, each payment of interest on the Loans, each payment of fees, each
reduction of the Revolving Commitments and each conversion of any Borrowing to
or continuation of any Borrowing as a Borrowing of any Type shall be allocated
pro rata among the applicable Lenders in accordance

<PAGE>

with their respective applicable Commitments (or, if such Commitments shall have
expired or been terminated, in accordance with the respective principal amounts
of their outstanding Loans). Each Lender agrees that in computing such Lender's
portion of any Borrowing to be made hereunder, the Administrative Agent may, in
its discretion, round each Lender's percentage of such Borrowing to the next
higher or lower whole dollar amount. If at any time insufficient funds are
received by and available to the Administrative Agent to pay fully all amounts
of principal of Loans, unreimbursed LC Disbursements, interest, fees and
commissions then due hereunder, such funds shall be applied (i) first, towards
payment of interest, fees and commissions then due hereunder, ratably among the
parties entitled thereto in accordance with the amounts of interest, fees and
commissions then due to such parties and (ii) second, towards payment of
principal of Loans and unreimbursed LC Disbursements then due hereunder, ratably
among the parties entitled thereto in accordance with the amounts of principal
of Loans and unreimbursed LC Disbursements then due to such parties.

            If any Lender shall, by exercising any right of setoff or
counterclaim or otherwise, obtain payment in respect of any principal of, or
interest on, any of its Loans or participations in LC Disbursements or Swingline
Loans resulting in such Lender receiving payment of a greater proportion of the
aggregate amount of its Loans and participations in LC Disbursements or
Swingline Loans and accrued interest thereon than the proportion received by any
other applicable Lender, then the applicable Lender receiving such greater
proportion shall purchase (for cash at face value) participations in the Loans
and participations in LC Disbursements or Swingline Loans of other applicable
Lenders to the extent necessary so that the benefit of all such payments shall
be shared by the applicable Lenders ratably in accordance with the aggregate
amount of principal of, and accrued interest on, their respective Loans and
participations in LC Disbursements or Swingline Loans, provided that (i) if any
such participations are purchased and all or any portion of the payment giving
rise thereto is recovered, such participations shall be rescinded and the
purchase price restored to the extent of such recovery, without interest, and
(ii) the provisions of this paragraph shall not be construed to apply to any
payment made by the Borrower pursuant to and in accordance with the express
terms of this Credit Agreement or any payment obtained by a Lender as
consideration for the assignment of or sale of a participation in any of its
Loans or participations in LC Disbursements or Swingline Loans to any assignee
or participant, other than to the Borrower or any Subsidiary or Affiliate
thereof (as to which the provisions of this paragraph shall apply). Each Loan
Party consents to the foregoing and agrees, to the extent it may effectively do
so under applicable law, that any Lender acquiring a participation pursuant to
the foregoing arrangements may exercise against such Loan Party rights of setoff
and counterclaim with respect to such participation as fully as if such Lender
were a direct creditor of such Loan Party in the amount of such participation.

            Unless the Administrative Agent shall have received notice from a
Loan Party prior to the date on which any payment is due to the Administrative
Agent for the account of the applicable Credit Parties hereunder that such Loan
Party will not make such payment, the Administrative Agent may assume that such
Loan Party has made such payment on such date in accordance herewith and may, in
reliance upon such assumption, distribute to such Credit Parties the amount due.
In such event, if such Loan Party has not in fact made such payment, then each
such Credit Party severally agrees to repay to the Administrative Agent
forthwith on demand the amount so distributed to such Credit Party with interest
thereon, for each day from and including the date such amount is distributed to
it to but excluding the date of payment to the Administrative Agent, at the
greater of the Federal Funds Effective Rate and a rate determined by the
Administrative Agent in accordance with banking industry rules on interbank
compensation.

            If any Credit Party shall fail to make any payment required to be
made by it pursuant to Section 2.5(d), 2.6(b) or 2.10(d), then the
Administrative Agent may, in its discretion (notwithstanding any contrary
provision hereof), apply any amounts thereafter received by the Administrative
Agent for the account of such Credit Party to satisfy such Credit Party's
obligations under such Sections until all such unsatisfied obligations are fully
paid.

                     INTEREST, FEES, YIELD PROTECTION, ETC.

      Interest

            The Loans comprising each ABR Borrowing (other than Swingline Loans)
shall bear interest at the Alternate Base Rate plus the Applicable Margin. Each
Swingline Loan shall bear interest at the Swingline Rate unless, pursuant to the
provisions of this Credit Agreement, the Swingline Rate is determined by
reference to the Alternate Base Rate, in which case such Loan shall bear
interest at the Alternate Base Rate plus the Applicable Margin.

            The Loans comprising each Eurodollar Borrowing shall bear interest
(i) in the case of a Eurodollar Revolving Loan, at the Adjusted LIBO Rate for
the Interest Period in effect for such Borrowing plus the Applicable Margin, or
(ii) in the case of a Eurodollar Competitive Loan, at the Adjusted LIBO Rate for
the Interest Period in effect for such Borrowing plus (or minus, as applicable)
the Margin applicable to such Loan.

            Each Fixed Rate Loan shall bear interest at the Fixed Rate
applicable to such Loan.

            Notwithstanding the foregoing, if any principal of or interest on
any Loan, any reimbursement obligation in respect of any LC Disbursement or any
fee or other amount payable by the Borrower hereunder is not paid when due,
whether at stated maturity, upon acceleration or otherwise, such overdue amount
shall bear interest, after as well as before judgment, at a rate
<PAGE>

annum equal to (i) in the case of overdue principal of any Loan, 2% plus the
rate otherwise applicable to such Loan as provided in the preceding paragraph of
this Section or (ii) in the case of any other amount, 2% plus the rate
applicable to ABR Revolving Borrowings and Term Borrowings as provided in the
preceding paragraph of this Section. In addition, notwithstanding the foregoing,
if an Event of Default has occurred and is continuing and the Administrative
Agent, at the request of the Required Lenders, so notifies the Borrower, then,
so long as such Event of Default is continuing, all outstanding principal of
each Loan and all unreimbursed reimbursement obligations in respect of all LC
Disbursements shall, without duplication of amounts payable under the preceding
sentence, bear interest, after as well as before judgment, at a rate per annum
equal to 2% plus the rate otherwise applicable to such Loan as provided in the
preceding paragraph of this Section or to such unreimbursed reimbursement
obligations in accordance with Section 2.10(h).

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

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

      Interest Elections

            Each Borrowing initially shall be of the Type specified in the
applicable Credit Request and, in the case of a Eurodollar Borrowing, shall have
an initial Interest Period as specified in such Credit Request. Thereafter, the
Borrower may elect to convert such Borrowing to a different Type or to continue
such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest
Periods therefor, all as provided in this Section. The Borrower may elect
different options with respect to different portions of the affected Borrowing,
in which case each such portion shall be allocated ratably among the applicable
Lenders holding the Loans comprising such Borrowing, and the Loans comprising
each such portion shall be considered a separate Borrowing. This Section shall
not apply to Competitive Borrowings or Swingline Borrowings, which may not be
converted or continued.

            To make an election pursuant to this Section, the Borrower shall
deliver to the Administrative Agent a signed Interest Election Request in a form
approved by the Administrative Agent (or notify the Administrative Agent by
telephone, to be promptly confirmed by delivery to the Administrative Agent of a
signed Interest Election Request) by the time that a Credit Request would be
required under Section 2.3 if the Borrower were requesting a Borrowing of the
Type resulting from such election to be made on the effective date of such
election.

            Each such telephonic and written Interest Election Request shall be
irrevocable and shall specify the following information:

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

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

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

                  if the resulting Borrowing is a Eurodollar Borrowing, the
      Interest Period to be applicable thereto after giving effect to such
      election, which shall be a period contemplated by the definition of the
      term "Interest Period".

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

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

            If the Borrower fails to deliver a timely Interest Election Request
prior to the end of the Interest Period applicable thereto, then, unless such
Borrowing is repaid as provided herein, at the end of such Interest Period, such
Borrowing shall be converted to an ABR Borrowing. Notwithstanding any contrary
provision hereof, if an Event of Default has occurred and is

<PAGE>

continuing and the Administrative Agent, at the request of the Required Lenders,
so notifies the Borrower, then, so long as an Event of Default is continuing,
(i) no outstanding Borrowing may be converted to or continued as a Eurodollar
Borrowing and (ii) unless repaid, each Eurodollar Borrowing shall be converted
to an ABR Borrowing at the end of the Interest Period applicable thereto.

      Fees

            The Borrower agrees to pay to the Administrative Agent for the
account of each Lender having a Revolving Commitment, a facility fee, which
shall accrue at a rate per annum equal to the Facility Fee Percentage on the
daily amount of the Revolving Commitment of such Lender (regardless of usage)
during the period from and including the date on which this Credit Agreement
becomes effective pursuant to Section 10.6 to but excluding the date on which
such Revolving Commitment terminates; provided that, if such Lender continues to
have any Revolving Credit Exposure after its Revolving Commitment terminates,
then such facility fee shall continue to accrue on the daily amount of such
Lender's Revolving Credit Exposure from and including the date on which such
Lender's Revolving Commitment terminates to but excluding the date on which such
Lender ceases to have any Revolving Credit Exposure. Accrued facility fees shall
be payable in arrears on the last day of March, June, September and December of
each year, each date on which the Revolving Commitments are permanently reduced
and on the date on which the Revolving Commitments terminate, commencing on the
first such date to occur after the Agreement Date, provided that all unpaid
facility fees shall be payable on the date on which the Revolving Commitments
terminate and provided further that facility fees which accrue after the
Revolving Commitments terminate shall be payable on demand. All facility fees
shall be computed on the basis of a year of 360 days and shall be payable for
the actual number of days elapsed (including the first day but excluding the
last day).

            The Borrower agrees to pay (i) to the Administrative Agent for the
account of each Lender having a Revolving Commitment a participation fee with
respect to its participations in Letters of Credit, which shall accrue at a rate
per annum equal to the Applicable Margin on the average daily amount of such
Lender's LC Exposure (excluding any portion thereof attributable to unreimbursed
LC Disbursements) during the period from and including the Closing Date to but
excluding the later of the date on which such Lender's Revolving Commitment
terminates and the date on which such Lender ceases to have any LC Exposure and
(ii) to the Issuing Bank for its own account a fronting fee, which shall accrue
at the rate or rates per annum separately agreed upon between the Borrower and
the Issuing Bank on the average daily amount of the LC Exposure (excluding any
portion thereof attributable to unreimbursed LC Disbursements) during the period
from and including the Closing Date to but excluding the later of the date of
termination of the Revolving Commitments and the date on which there ceases to
be any LC Exposure, as well as the Issuing Bank's standard fees with respect to
the issuance, amendment, renewal or extension of any Letter of Credit or
processing of drawings thereunder, provided that for the purposes of this clause
(ii) only, Existing Letters of Credit shall be deemed to have been issued
pursuant to this Credit Agreement. Accrued participation fees and fronting fees
shall be payable in arrears on the last day of March, June, September and
December of each year, commencing on the first such date to occur after the date
hereof; provided that all such fees shall be payable on the date on which the
Revolving Commitments terminate and any such fees accruing after the date on
which the Revolving Commitments terminate shall be payable on demand. Any other
fees payable to the Issuing Bank pursuant to this paragraph shall be payable
within ten days after demand. All participation fees and fronting fees shall be
computed on the basis of a year of 360 days and shall be payable for the actual
number of days elapsed (including the first day but excluding the last day).

            The Borrower agrees to pay to each Credit Party, for its own
account, fees and other amounts payable in the amounts and at the times
separately agreed upon between the Borrower and such Credit Party.

            All fees and other amounts payable hereunder shall be paid on the
dates due, in immediately available funds. Fees and other amounts paid shall not
be refundable under any circumstances.

      Alternate Rate of Interest

            If prior to the commencement of any Interest Period for a Eurodollar
Borrowing:

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

                  (b) the Administrative Agent is advised by any Lender that the
      Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest
      Period will not adequately and fairly reflect the cost to such Lender of
      making or maintaining its Loan included in such Borrowing for such
      Interest Period;

then the Administrative Agent shall give notice thereof to the Borrower and the
Lenders by telephone or telecopy as promptly as practicable thereafter and,
until the Administrative Agent notifies the Borrower and the Lenders that the
circumstances giving rise to such notice no longer exist, (i) any Interest
Election Request that requests the conversion of any Revolving Borrowing to, or
continuation of any Revolving Borrowing as, a Eurodollar Revolving Borrowing
shall be ineffective and any Eurodollar Revolving Borrowing so requested to be
continued shall be converted to an ABR Borrowing on the last day of the current
Interest Period with respect thereto, (ii) if any Borrowing Request requests a
Eurodollar Revolving Borrowing, such Borrowing shall be made as an ABR Borrowing
and (iii) any request by the Borrower for a Eurodollar Competitive Borrowing
shall be ineffective; provided that if the

<PAGE>

circumstances giving rise to such notice do not affect all the Lenders, then
requests for Eurodollar Competitive Borrowings may be made to Lenders that are
not affected thereby.

      Increased Costs; Illegality

            If any Change in Law shall:

                  impose, modify or deem applicable any reserve, special deposit
      or similar requirement against assets of, deposits with or for the account
      of, or credit extended by, any Credit Party (except any such reserve
      requirement reflected in the Adjusted LIBO Rate); or

                  impose on any Credit Party or the London interbank market any
      other condition affecting this Credit Agreement, any Eurodollar Loans made
      by such Credit Party or any participation therein or any Letter of Credit
      or participation therein,

and the result of any of the foregoing shall be to increase the cost to such
Credit Party of making or maintaining any Eurodollar Loan or Fixed Rate Loan or
to increase the cost to such Credit Party of issuing, participating in or
maintaining any Letter of Credit hereunder or to increase the cost to such
Credit Party or to reduce the amount of any sum received or receivable by such
Credit Party hereunder (whether of principal, interest or otherwise), then the
Borrower will pay to such Credit Party such additional amount or amounts as will
compensate such Credit Party for such additional costs incurred or reduction
suffered. Failure to demand compensation pursuant to this Section shall not
constitute a waiver of such Credit Party's right to demand such compensation.

            If any Credit Party determines that any Change in Law regarding
capital requirements has or would have the effect of reducing the rate of return
on such Credit Party's capital or on the capital of such Credit Party's holding
company, if any, as a consequence of this Credit Agreement or the Loans made,
the Letters of Credit issued or the participations therein held, by such Credit
Party to a level below that which such Credit Party or such Credit Party's
holding company could have achieved but for such Change in Law (taking into
consideration such Credit Party's policies and the policies of such Credit
Party's holding company with respect to capital adequacy), then from time to
time the Borrower will pay to such Credit Party such additional amount or
amounts as will compensate such Credit Party or such Credit Party's holding
company for any such reduction suffered.

            A certificate of a Credit Party setting forth the amount or amounts
necessary to compensate such Credit Party or its holding company, as applicable,
as specified in paragraph (a) or (b) of this Section shall be delivered to the
Borrower and shall be conclusive absent manifest error. The Borrower shall pay
such Credit Party the amount shown as due on any such certificate within 10 days
after receipt thereof.

            Failure or delay on the part of any Credit Party to demand
compensation pursuant to this Section shall not constitute a waiver of such
Credit Party's right to demand such compensation; provided that the Borrower
shall not be required to compensate a Credit Party pursuant to this Section for
any increased costs or reductions incurred more than 90 days prior to the date
that such Credit Party notifies the Borrower of the Change in Law giving rise to
such increased costs or reductions and of such Credit Party's intention to claim
compensation therefor; and provided further that, if the Change in Law giving
rise to such increased costs or reductions is retroactive, then the 90 day
period referred to above shall be extended to include the period of retroactive
effect thereof.

            Notwithstanding the foregoing provisions of this Section, a Lender
shall not be entitled to compensation pursuant to this Section in respect of any
Competitive Loan if the Change in Law that would otherwise entitle it to such
compensation shall have been publicly announced prior to the submission of the
Competitive Bid pursuant to which such Loan was made.

            Notwithstanding any other provision of this Credit Agreement, if,
after the Agreement Date, any Change in Law shall make it unlawful for any
Lender to make or maintain any Eurodollar Loan or to give effect to its
obligations as contemplated hereby with respect to any Eurodollar Loan, then, by
written notice to the Borrower and to the Administrative Agent:

                  such Lender may declare that Eurodollar Loans will not
      thereafter (for the duration of such unlawfulness) be made by such Lender
      hereunder (or be continued for additional Interest Periods) and ABR Loans
      will not thereafter (for such duration) be converted into Eurodollar
      Loans, whereupon any request for a Eurodollar Borrowing or to convert an
      ABR Borrowing to a Eurodollar Borrowing or to continue a Eurodollar
      Borrowing, as applicable, for an additional Interest Period shall, as to
      such Lender only, be deemed a request for an ABR Loan (or a request to
      continue an ABR Loan as such for an additional Interest Period or to
      convert a Eurodollar Loan into an ABR Loan, as applicable), unless such
      declaration shall be subsequently withdrawn; and

                  such Lender may require that all outstanding Eurodollar Loans
      made by it be converted to ABR Loans, in which event all such Eurodollar
      Loans shall be automatically converted to ABR Loans, as of the effective
      date of such notice as provided in the last sentence of this paragraph.

In the event any Lender shall exercise its rights under clause (i) or (ii) of
this paragraph, all payments and prepayments of principal that would otherwise
have been applied to repay the Eurodollar Loans that would have been made by
such Lender or the converted Eurodollar Loans of such Lender shall instead be
applied to repay the ABR Loans made by such Lender in lieu of, or resulting from
the conversion of, such Eurodollar Loans, as applicable. For purposes of this
paragraph, a notice to the Borrower by any Lender shall

<PAGE>

be effective as to each Eurodollar Loan made by such Lender, if lawful, on the
last day of the Interest Period currently applicable to such Eurodollar Loan; in
all other cases such notice shall be effective on the date of receipt by the
Borrower.

      Break Funding Payments

            In the event of (a) the payment or prepayment (voluntary or
otherwise) of any principal of any Eurodollar Loan or Fixed Rate Loan other than
on the last day of an Interest Period applicable thereto or any Swingline Loan
other than on the maturity thereof (other than a Swingline Loan, the Swingline
Rate with respect to which is based on the Alternate Base Rate) (including as a
result of an Event of Default), (b) the conversion of any Eurodollar Loan other
than on the last day of the Interest Period applicable thereto, (c) the failure
to borrow, convert, continue or prepay any Eurodollar Loan or Swingline Loan
(other than a Swingline Loan, the Swingline Rate with respect to which is based
on the Alternate Base Rate) on the date specified in any notice delivered
pursuant hereto (regardless of whether such notice may be revoked under Section
2.9(c) and is revoked in accordance therewith), (d) the failure to borrow any
Competitive Loan after accepting the Competitive Bid to make such Loan or (e)
the assignment of any Eurodollar Loan or Fixed Rate Loan other than on the last
day of the Interest Period or maturity date applicable thereto as a result of a
request by the Borrower pursuant to Section 3.8(b), then, in any such event, the
Borrower shall compensate each Lender for the loss, cost and expense
attributable to such event, provided, however, that, notwithstanding anything to
the contrary herein, no such compensation shall be payable for any loss, cost or
expense attributable to any payment made by the Borrower to the Administrative
Agent under Section 2.6(b). In the case of a Eurodollar Loan, such loss, cost or
expense to any Lender shall be deemed to include an amount determined by such
Lender to be the excess, if any, of (i) the amount of interest that would have
accrued on the principal amount of such Loan had such event not occurred, at the
Adjusted LIBO Rate that would have been applicable to such Loan, for the period
from the date of such event to the last day of the then current Interest Period
therefor (or, in the case of a failure to borrow, convert or continue, for the
period that would have been the Interest Period for such Loan), over (ii) the
amount of interest that would accrue on such principal amount for such period at
the interest rate that such Lender would bid were it to bid, at the commencement
of such period, for dollar deposits of a comparable amount and period from other
banks in the eurodollar market. A certificate of any Lender setting forth any
amount or amounts that such Lender is entitled to receive pursuant to this
Section shall be delivered to the Borrower and shall be conclusive absent
manifest error. The Borrower shall pay such Lender the amount shown as due on
any such certificate within 10 days after receipt thereof.

      Taxes

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

            In addition, the Loan Parties shall pay any Other Taxes to the
relevant Governmental Authority in accordance with applicable law.

            Each Loan Party shall indemnify each Credit Party, within ten days
after written demand therefor, for the full amount of any Indemnified Taxes or
Other Taxes paid by such Credit Party on or with respect to any payment by or on
account of any obligation of such Loan Party under the Loan Documents (including
Indemnified Taxes or Other Taxes imposed or asserted on or attributable to
amounts payable under this Section) and any penalties, interest and reasonable
expenses arising therefrom or with respect thereto, whether or not such
Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted
by the relevant Governmental Authority. A certificate as to the amount of such
payment or liability delivered to the Borrower by a Credit Party, or by the
Administrative Agent on its own behalf or on behalf of a Credit Party, shall be
conclusive absent manifest error.

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

            Any Foreign Lender that is entitled to an exemption from or
reduction of withholding tax under the law of the jurisdiction in which the
relevant Loan Party is located, or any treaty to which such jurisdiction is a
party, with respect to payments under the Loan Documents shall deliver to the
Borrower (with a copy to the Administrative Agent), at the time or times
prescribed by applicable law, such properly completed and executed documentation
prescribed by applicable law or reasonably requested by the Borrower as will
permit such payments to be made without withholding or at a reduced rate.

      Mitigation Obligations; Replacement of Lenders

            If any Credit Party requests compensation under Section 3.5, or if
the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 3.7,
then such Credit Party shall use reasonable efforts to designate a different
lending office for funding or booking its Loans or Letters of Credit (or any
participation therein) hereunder or to assign its rights and obligations
hereunder to another of its offices, branches or affiliates, if, in

<PAGE>

the judgment of such Credit Party, such designation or assignment (i) would
eliminate or reduce amounts payable pursuant to Section 3.5 or 3.7, as
applicable, in the future and (ii) would not subject such Credit Party to any
unreimbursed cost or expense and would not otherwise be disadvantageous to such
Credit Party. The Borrower hereby agrees to pay all reasonable costs and
expenses incurred by any Credit Party in connection with any such designation or
assignment.

            If any Lender requests compensation under Section 3.5, or if the
Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 3.7, in
an aggregate amount in excess of $10,000, or if any Lender on three or more
separate occasions fails to fulfill its obligations to fund any Revolving Loan
or to participate in any Swingline Loan or any LC Disbursement, in each case on
the Business Day required therefor, then the Borrower may, at its sole expense
(including the fees referred to in Section 10.4(b)) and effort, upon notice to
such Lender and the Administrative Agent, require such Lender to assign and
delegate, without recourse (in accordance with and subject to the restrictions
contained in Section 10.4), all its interests, rights and obligations under the
Loan Documents (other than any outstanding Competitive Loans held by it), to an
assignee that shall assume such obligations (which assignee may be another
Lender, if a Lender accepts such assignment); provided that (i) the Borrower
shall have received the prior written consent of the Administrative Agent (and,
if a Commitment is being assigned, the Issuing Bank and Swingline Lender), which
consent shall not unreasonably be withheld, (ii) such Lender shall have received
payment of an amount equal to the outstanding principal of its Loans (other than
Competitive Loans) and participations in LC Disbursements and Swingline Loans,
accrued interest thereon, accrued fees and all other amounts payable to it
hereunder, from the assignee (to the extent of such outstanding principal and
accrued interest and fees) or the Borrower (in the case of all other amounts)
and (iii) in the case of any such assignment resulting from a claim for
compensation under Section 3.5 or payments required to be made pursuant to
Section 3.7, such assignment will result in a reduction in such compensation or
payments. A Lender shall not be required to make any such assignment and
delegation if, prior thereto, as a result of a waiver by such Lender or
otherwise, the circumstances entitling the Borrower to require such assignment
and delegation cease to apply.

                         REPRESENTATIONS AND WARRANTIES

            The Borrower represents and warrants to the Credit Parties that:

      Organization; Powers

            Each of the Borrower and the Subsidiaries is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its
organization, has all requisite power and authority to carry on its business as
now conducted and, except where the failure to do so, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse
Effect, is qualified to do business in, and is in good standing in, every
jurisdiction where such qualification is required.

      Authorization; Enforceability

            The Transactions are within the corporate, partnership or other
analogous powers of each of the Borrower and the Subsidiary Guarantors to the
extent it is a party thereto and have been duly authorized by all necessary
corporate, partnership or other analogous and, if required, equityholder action.
Each Loan Document has been duly executed and delivered by each of the Borrower
and the Subsidiary Guarantors to the extent it is a party thereto and
constitutes a legal, valid and binding obligation thereof, enforceable in
accordance with its terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium or other laws affecting creditors' rights generally.

      Governmental Approvals; No Conflicts

            The Transactions (a) do not require any consent or approval of,
registration or filing with, or any other action by, any Governmental Authority,
except such as have been obtained or made and are in full force and effect, (b)
will not violate any applicable law or regulation or the charter, by laws or
other organizational documents of the Borrower or any of the Subsidiaries or any
order of any Governmental Authority, (c) will not violate or result in a default
under any material indenture, agreement or other instrument binding upon the
Borrower or any of the Subsidiaries or its assets, or give rise to a right
thereunder to require any payment to be made by the Borrower or any of the
Subsidiaries, and (d) will not result in the creation or imposition of any Lien
on any asset of the Borrower or any of the Subsidiaries.

      Financial Condition; No Material Adverse Change

            The Borrower has heretofore furnished to the Credit Parties (i) its
Form 10-K for the fiscal year ended June 30, 2003 containing the consolidated
balance sheet and statements of income, stockholder's equity and cash flows of
the Borrower and the Subsidiaries as of and for the fiscal year ended June 30,
2003 and June 30, 2002 reported on by PriceWaterhouseCoopers, LLP, independent
public accountants, and (ii) its Form 10-Q for the fiscal quarter ended December
31, 2003, containing the consolidated balance sheet and statements of income and
cash flows of the Borrower and the Subsidiaries as of and for the fiscal quarter
and the portion of ended on December 31, 2003, certified by its chief financial
officer. The consolidated financial statements referred to in

<PAGE>

clauses (i) and (ii) above present fairly, in all material respects, the
financial position and results of operations and cash flows of the Borrower and
consolidated Subsidiaries as of such dates and for the indicated periods in
accordance with GAAP and are consistent with the books and records of the
Borrower (which books and records are correct and complete), subject to year end
audit adjustments and the absence of footnotes in the case of the statements
referred to in clause (ii) above.

            Since June 30, 2003, there has been no material adverse change in
the business, assets, operations, prospects or condition, financial or
otherwise, of the Borrower and the Subsidiaries, taken as a whole.

      Properties

            Each of the Borrower and the Subsidiaries has good title to, or
valid leasehold interests in, all its real and personal property material to its
business, except for minor defects in title that do not interfere with its
ability to conduct its business as currently conducted or to utilize such
properties for their intended purposes.

            Each of the Borrower and the Subsidiaries owns, or is entitled to
use, all franchises, licenses, trademarks, tradenames, copyrights, patents and
other intellectual property material to its business, and the use thereof by the
Borrower and the Subsidiaries does not infringe upon the rights of any other
Person, except for any such infringements that, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse
Effect.

      Litigation and Environmental Matters

            Except for the Disclosed Matters, there are no actions, suits or
proceedings by or before any arbitrator or Governmental Authority pending
against or, to the knowledge of the Borrower, threatened against or affecting
the Borrower or any of the Subsidiaries (i) that, if adversely determined, could
reasonably be expected, individually or in the aggregate, to result in a
Material Adverse Effect (other than the Disclosed Matters) or (ii) that involve
any Loan Document or the Transactions.

            Except for the Disclosed Matters and except with respect to any
other matters that, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect, neither the Borrower nor any of
the Subsidiaries (i) have failed to comply with any Environmental Law or to
obtain, maintain or comply with any permit, license or other approval required
under any Environmental Law, (ii) have become subject to any Environmental
Liability, (iii) have received notice of any claim with respect to any
Environmental Liability or (iv) know of any basis for any Environmental
Liability.

            Since the date of this Credit Agreement, there has been no change in
the status of the Disclosed Matters that, individually or in the aggregate, has
resulted in, or materially increased the likelihood of, a Material Adverse
Effect.

      Compliance with Laws and Agreements

            Each of the Borrower and the Subsidiaries is in compliance with all
laws, regulations and orders of any Governmental Authority applicable to it or
its property and all indentures, agreements and other instruments binding upon
it or its property, except where the failure to do so, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse
Effect. No Default has occurred and is continuing.

      Investment and Holding Company Status

            Neither the Borrower nor any of the Subsidiaries are (a) an
"investment company" as defined in, or subject to regulation under, the
Investment Company Act of 1940 or (b) a "holding company" as defined in, or
subject to regulation under, the Public Utility Holding Company Act of 1935.

      Taxes

            Each of the Borrower and the Subsidiaries has timely filed or caused
to be filed all Tax returns and reports required to have been filed and has paid
or caused to be paid all Taxes required to have been paid by it, except (a)
Taxes that are being contested in good faith by appropriate proceedings and for
which the Borrower or such Subsidiary, as applicable, has set aside on its books
adequate reserves or (b) to the extent that the failure to do so could not
reasonably be expected to result in a Material Adverse Effect.

      ERISA

            No ERISA Event has occurred or is reasonably expected to occur that,
when taken together with all other such ERISA Events for which liability is
reasonably expected to occur, could reasonably be expected to result in a
Material Adverse Effect. The present value of all accumulated benefit
obligations under each Plan (based on the assumptions used for purposes of
Statement of Financial Accounting Standards No. 87) did not, as of the date of
the most recent financial statements reflecting such amounts, exceed by more
than $2,000,000 the fair market value of the assets of such Plan, and the
present value of all accumulated benefit obligations of all underfunded Plans
(based on the assumptions used for purposes of Statement of Financial Accounting

<PAGE>

Standards No. 87) did not, as of the date of the most recent financial
statements reflecting such amounts, exceed by more than $2,000,000 the fair
market value of the assets of all such underfunded Plans.

      Disclosure

            The Borrower has disclosed to the Credit Parties (i) all agreements,
instruments and corporate or other restrictions to which it or any of the
Subsidiaries is subject and (ii) all other matters known to it, in each case
that, individually or in the aggregate, could reasonably be expected to result
in a Material Adverse Effect. None of the reports, financial statements,
certificates or other information furnished by or on behalf of the Borrower or
any Subsidiary to any Credit Party in connection with the negotiation of the
Loan Documents or delivered thereunder (as modified or supplemented by other
information so furnished) contains any material misstatement of fact or omits to
state any material fact necessary to make the statements therein, in the light
of the circumstances under which they were made, not misleading, provided that,
with respect to projected financial information, the Borrower represents only
that such information was prepared in good faith based upon assumptions believed
to be reasonable at the time.

      Subsidiaries

            Schedule 4.12 sets forth the name of, and the ownership interest of
the Borrower in, each Subsidiary on the Agreement Date and identifies each such
Subsidiary as a Domestic Subsidiary, a Foreign Subsidiary, Exempt Subsidiary
and/or a Significant Subsidiary.

      Insurance

            Schedule 4.13 sets forth a description of all insurance maintained
by or on behalf of the Borrower and the Subsidiaries as of the Agreement Date.
As of the Agreement Date, all premiums in respect of such insurance that are due
and payable have been paid.

      Labor Matters

            As of the Agreement Date, there are no strikes, lockouts or
slowdowns against the Borrower or any Subsidiary pending or, to the knowledge of
the Borrower, threatened. The hours worked by and payments made to employees of
the Borrower and the Subsidiaries have not been in violation of the Fair Labor
Standards Act or any other applicable Federal, state, local or foreign law
dealing with such matters, except where any such violations, individually and in
the aggregate, would not be reasonably likely to result in a Material Adverse
Effect. All material payments due from the Borrower or any Subsidiary, or for
which any claim may be made against the Borrower or any Subsidiary, on account
of wages and employee health and welfare insurance and other benefits, have been
paid or accrued as a liability on the books of the Borrower or such Subsidiary.
The consummation of the Transactions will not give rise to any right of
termination or right of renegotiation on the part of any union under any
collective bargaining agreement to which the Borrower or any Subsidiary is
bound.

      Solvency

            Immediately following the making of each Loan, if any, and the
issuance of each Letter of Credit, if any, made or issued on the date thereof
and after giving effect to the application of the proceeds of such Loan and such
Letter of Credit, (a) the fair value of the assets of the Borrower and the
Subsidiaries, taken as a whole, at a fair valuation, will exceed their debts and
liabilities, subordinated, contingent or otherwise; (b) the present fair
saleable value of the property of the Borrower and the Subsidiaries, taken as a
whole, will be greater than the amount that will be required to pay the probable
liability of their debts and other liabilities, subordinated, contingent or
otherwise, as such debts and other liabilities become absolute and matured; (c)
each of the Borrower and the Subsidiary Guarantors will be able to pay its debts
and liabilities, subordinated, contingent or otherwise, as such debts and
liabilities become absolute and matured; and (d) each of the Borrower and the
Subsidiary Guarantors will not have unreasonably small capital with which to
conduct the business in which it is engaged as such business is now conducted
and is proposed to be conducted following such date.

      Federal Reserve Regulations

            Neither the Borrower nor any of the Subsidiaries are engaged
principally, or as one of their important activities, in the business of
extending credit for the purpose of buying or carrying Margin Stock. Immediately
before and after giving effect to the making of each Loan, Margin Stock will
constitute less than 25% of the Borrower's assets as determined in accordance
with Regulation U.

            No part of the proceeds of any Loan will be used, whether directly
or indirectly, and whether immediately, incidentally or ultimately, (i) to
purchase, acquire or carry any Margin Stock, (ii) for any purpose that entails a
violation of, or that is inconsistent with, the provisions of the regulations of
the Board, including Regulation T, U or X, or (iii) to make a loan to any
director or executive officer of the Borrower or any Subsidiary.

<PAGE>

                                   CONDITIONS

      Closing Date

            The obligations of the Lenders to make Loans and of the Issuing Bank
to issue New Letters of Credit hereunder shall not become effective until the
date on which each of the following conditions is satisfied (or waived in
accordance with Section 10.2):

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

            Notes. The Administrative Agent shall have received a Note for each
Lender and a Swingline Note for the Swingline Lender, signed on behalf of the
Borrower.

            Legal Opinion. The Administrative Agent shall have received a
favorable written opinion (addressed to the Credit Parties and dated the Closing
Date) from Kevin J. Dell, Esq., Executive Vice President, Secretary and General
Counsel of the Borrower and counsel to the Subsidiary Guarantors on behalf of
the Loan Parties, substantially in the form of Exhibit B, and covering such
other matters relating to the Loan Parties, the Loan Documents or the
Transactions as the Required Lenders shall reasonably request. The Borrower
hereby requests such counsel to deliver such opinion.

            Organizational Documents, etc. The Administrative Agent shall have
received such documents and certificates as the Administrative Agent or its
counsel may reasonably request relating to the (i) organization, existence and
good standing of each Loan Party (including a certificate of incorporation or
formation of the Borrower and each Subsidiary Guarantor and a certificate of
good standing (or comparable certificates) for the Borrower and each Subsidiary
Guarantor, certified as of a recent date prior to the Closing Date, by the
Secretaries of State (or comparable official) of the jurisdiction of its
incorporation or formation), (ii) the authorization of the Transactions, (iii)
the incumbency of its officer or officers who may sign the Loan Documents,
including therein a signature specimen of such officer or officers and (iv) any
other legal matters relating to the Loan Parties, the Loan Documents or the
Transactions, all in form and substance satisfactory to the Administrative Agent
and its counsel.

            Officer's Certificate. The Administrative Agent shall have received
a certificate, dated the Closing Date and signed by the President, a Vice
President or a Financial Officer of the Borrower, confirming compliance with the
conditions set forth in paragraphs (a) and (b) of Section 5.3.

            Fees and Expenses. The Administrative Agent shall have received all
fees and other amounts due and payable on or prior to the Closing Date,
including, to the extent invoiced, reimbursement or payment of all out-of-pocket
expenses required to be reimbursed or paid by the Borrower hereunder.

            Guarantee Agreement. The Administrative Agent shall have received
counterparts of the Guarantee Agreement signed on behalf of the Borrower and
each Subsidiary Guarantor.

            No Violation. The performance by each Loan Party of its obligations
under each Loan Document shall not (i) violate any applicable law, statute, rule
or regulation or (ii) conflict with, or result in a default or event of default
under, any material agreement of any Loan Party or any other Subsidiary, and the
Administrative Agent shall have received a certificate, dated the Closing Date
and signed by the President, a Vice President or a Financial Officer of the
Borrower, to the foregoing effects.

            No Litigation. The Lenders shall be reasonably satisfied (i) that,
except for the Disclosed Matters, there shall be no litigation or administrative
proceeding, or regulatory development, that would reasonably be expected to have
a material adverse effect on (a) the business, assets, operations, prospects,
condition (financial or otherwise) or material agreements of the Borrower and
the Subsidiaries, taken as a whole, (b) the ability of any Loan Party to perform
any of its obligations under any Loan Document or (c) the rights of or benefits
available to any Credit Party under any Loan Document and (ii) with the current
status of, and the terms of any settlement or other resolution of, any
litigation or other proceedings brought against the Borrower or any Subsidiary
by or on behalf of its subscribers or by any Governmental Authority relating to
its business, and the Administrative Agent shall have received a certificate,
dated the Closing Date and signed by the President, a Vice President or a
Financial Officer of the Borrower, to the foregoing effects.

            No Other Indebtedness or Equity Interests. After giving effect to
the Transactions, none of the Borrower or any of the Subsidiaries shall have
outstanding any shares of preferred equity securities or any Indebtedness other
than as permitted under Section 7.1, and the Administrative Agent shall have
received a certificate, dated the Closing Date and signed by the President, a
Vice President or a Financial Officer of the Borrower, to the foregoing effects.

<PAGE>

            No Material Adverse Change. No material adverse change or material
adverse condition in the business, assets, operations, properties, condition
(financial or otherwise), liabilities (including contingent liabilities),
prospects or material agreements of the Borrower and the Subsidiaries, taken as
a whole, has occurred since June 30, 2003, and the Administrative Agent shall
have received a certificate, dated the Closing Date and signed by the President,
a Vice President or a Financial Officer of the Borrower, to the foregoing
effects.

            Pro Forma Compliance. The Administrative Agent shall have received a
certificate, dated the Closing Date and signed by a Financial Officer of the
Borrower, setting forth reasonably detailed calculations demonstrating
compliance with Section 7.12 on a pro forma basis immediately after giving
effect to the Transactions to occur on the Closing Date.

            Termination of Prior Loan Documents. After giving effect to the
application of the proceeds of the Loans on the Closing Date, the Indebtedness
under the Prior Loan Documents shall have been fully repaid, the Prior Loan
Documents (including any Hedging Agreements issued by a lender or otherwise
secured thereunder) shall have been canceled or terminated, the Borrower and
each of the Subsidiaries shall have been released from all liability thereunder
(other than indemnification obligations under the existing credit agreement
which, by their terms, survive such termination), and the Administrative Agent
shall have received reasonably satisfactory evidence thereof.

            The Administrative Agent shall be entitled to assume that each of
the conditions set forth in Sections 5.1(i) and 5.1(k) have been satisfied
unless it shall have received notice expressly to the contrary from a Credit
Party or a Loan Party. Notwithstanding the foregoing, the obligations of the
Lenders to make Loans and the Issuing Bank to issue Letters of Credit hereunder
shall not become effective unless each of the foregoing conditions is satisfied
(or waived pursuant to Section 10.2) at or prior to 3:00 p.m., New York City
time, on April 30, 2004 (and, in the event such conditions are not so satisfied
or waived, the Commitments shall terminate at such time).

      Conditions to Extensions of Credit in Connection with Acquisitions
Permitted under Section 7.4(l) of this Credit Agreement

            In addition to the satisfaction on the Closing Date of the
conditions set forth in Section 5.1 and the satisfaction of the conditions set
forth in Section 5.3, the obligation of each Lender to make a Loan on the
occasion of any Borrowing and of the Issuing Bank to issue, amend, renew or
extend a Letter of Credit, in each case where the proceeds of which are to be
used directly or indirectly to make an acquisition permitted by Section 7.4(l)
is subject to the satisfaction of the following conditions precedent as of the
date of such Loan or such Letter of Credit:

            The Person to be acquired is engaged in substantially the same or a
related business as any Subsidiary of the Borrower, including the software,
financial services, transaction processing and outsourcing businesses, or in the
case of an acquisition of a business or assets, such business is substantially
the same as or related to, or such assets are devoted to a business that is
substantially the same as or related to, as the case may be, the business of any
Subsidiary of the Borrower.

            If the amount of such Borrowing exceeds $10,000,000 or the
acquisition cost of the acquisition exceeds $20,000,000, the Administrative
Agent and the Lenders shall have received historical financial statements of the
Person or business to be acquired for not less than three years to the date of
such acquisition or such lesser amount of time for which such statements exist.

            The Administrative Agent shall have received a certificate (in form
and substance satisfactory to the Administrative Agent) of a Financial Officer
to the effect that (and including calculations in reasonable detail indicating
that), on a pro forma basis after giving effect to such acquisition, (i) all of
the representations and warranties in the Loan Documents will be true and
correct, (ii) no Default shall have occurred and be continuing, and (iii)
certifying compliance with subsections (a) and (b) of Section 5.3.

      Each Credit Event

            The obligation of each Lender to make a Loan on the occasion of any
Borrowing, and of the Issuing Bank to issue, increase, amend, renew or extend a
Letter of Credit, (each such event being called a "Credit Event") is subject to
the satisfaction of the following conditions:

            The representations and warranties of the Loan Parties set forth in
the Loan Documents shall be true and correct on and as of the date of such
Borrowing or the date of such issuance, increase, amendment, renewal or
extension, as applicable.

            At the time of and immediately after giving effect to such Borrowing
or such issuance, increase, amendment, renewal or extension, as applicable, no
Default shall have occurred and be continuing.

            The Administrative Agent shall have received such other
documentation and assurances as shall be reasonably required by it in connection
therewith.

<PAGE>

Each Borrowing and each issuance, increase, amendment, renewal or extension of a
Letter of Credit shall be deemed to constitute a representation and warranty by
the Borrower on the date thereof as to the matters specified in paragraphs (a)
and (b) of this Section.

                              AFFIRMATIVE COVENANTS

      Until the Commitments have expired or been terminated and the principal of
and interest on each Loan and all fees and other amounts payable under the Loan
Documents shall have been paid in full and all Letters of Credit have expired
and all LC Disbursements have been reimbursed, the Borrower covenants and agrees
with the Credit Parties that:

      Financial Statements and Other Information

            The Borrower will furnish to the Administrative Agent (with a copy
thereof for each Lender, which shall be promptly delivered by the Administrative
Agent to such Lender):

                  within 90 days after the end of each fiscal year, (i) its Form
10-K containing its audited consolidated balance sheet and related statements of
income, stockholders' equity and cash flows as of the end of and for such year,
setting forth in each case in comparative form the figures for the previous
fiscal year, all reported on by PriceWaterhouseCoopers, LLP or other independent
public accountants of recognized national standing (without a "going concern" or
like qualification or exception and without any qualification or exception as to
the scope of such audit) to the effect that such consolidated financial
statements present fairly in all material respects the financial condition and
results of operations of the Borrower and its consolidated Subsidiaries on a
consolidated basis in accordance with GAAP consistently applied;

                  within 45 days after the end of each of the first three fiscal
quarters of each fiscal year, (i) its Form 10-Q containing its consolidated
balance sheet and related statements of income and cash flows as of the end of
and for such fiscal quarter and the then elapsed portion of the fiscal year,
setting forth in each case in comparative form the figures for the corresponding
period or periods of (or, in the case of the balance sheet, as of the end of)
the previous fiscal year, and (ii) unaudited financial information for each of
the Borrower's business lines, all certified by one of its Financial Officers as
presenting fairly in all material respects the financial condition and results
of operations of the Borrower and the consolidated Subsidiaries on a
consolidated basis in accordance with GAAP consistently applied, subject to
normal year end audit adjustments and the absence of footnotes;

                  concurrently with any delivery of financial statements under
clause (a) or (b) above, a certificate of a Financial Officer (i) certifying as
to whether a Default has occurred and, if a Default has occurred, specifying the
details thereof and any action taken or proposed to be taken with respect
thereto, (ii) setting forth reasonably detailed calculations demonstrating
compliance with Section 7.12, (iii) setting forth the name of each Domestic
Subsidiary which is a Significant Subsidiary and certifying that such Subsidiary
is a Subsidiary Guarantor or an Exempt Subsidiary, and (iv) stating whether any
material change in GAAP or in the application thereof in any material respect
has occurred since the date of the audited financial statements referred to in
Section 4.4 and, if any such change has occurred, specifying the effect of such
change on the financial statements accompanying such certificate;

                  promptly after the same become publicly available, copies of
all periodic and other reports, proxy statements and other materials filed by
the Borrower or any Subsidiary with the Securities and Exchange Commission, or
any Governmental Authority succeeding to any or all of the functions of said
Commission, or with any national securities exchange, or distributed by the
Borrower to its shareholders generally, as the case may be;

                  furnish to the Administrative Agent promptly such other
information with documentation required by bank regulatory authorities under
applicable "know your customer" and anti-money laundering rules and regulations
(including, without limitation, Section 326 of the USA Patriot Act of 2001, 31
U.S.C. Section 5318), as from time to time may be reasonably requested by the
Administrative Agent; and

                  promptly following any request therefor, such other
information regarding the operations, business affairs and financial condition
of the Borrower or any Subsidiary, or compliance with the terms of the Loan
Documents, as the Administrative Agent or any Lender may reasonably request.

      Notices of Material Events

            The Borrower will furnish to the Administrative Agent prompt written
notice of the following (with a copy thereof for each Lender, which shall be
promptly delivered by the Administrative Agent to such Lender):

            the occurrence of any Default;

<PAGE>

            the filing or commencement of any action, suit or proceeding by or
before any arbitrator or Governmental Authority against or affecting the
Borrower or any Affiliate thereof that, if adversely determined, could in the
good faith opinion of the Borrower reasonably be expected to result in a
Material Adverse Effect;

            the occurrence of any ERISA Event that, alone or together with any
other ERISA Events that have occurred, could reasonably be expected to result in
liability of the Borrower and the Subsidiaries in an aggregate amount exceeding
$2,000,000;

            any other development that results in, or could reasonably be
expected to result in, a Material Adverse Effect; and

            Each notice delivered under this Section shall be accompanied by a
statement of a Financial Officer or other executive officer of the Borrower
setting forth the details of the event or development requiring such notice and
any action taken or proposed to be taken with respect thereto.

      Existence; Conduct of Business

            The Borrower will, and will cause each of the Subsidiaries to, do or
cause to be done all things necessary to preserve, renew and keep in full force
and effect its legal existence and the rights, licenses, permits, privileges and
franchises material to the conduct of its business, provided that the foregoing
shall not prohibit any merger, consolidation, liquidation or dissolution
permitted under Section 7.3.

      Payment of Obligations

            The Borrower will, and will cause each of the Subsidiaries to, pay
its obligations, including Tax liabilities, that, if not paid, could result in a
Material Adverse Effect before the same shall become delinquent or in default,
except where (a) the validity or amount thereof is being contested in good faith
by appropriate proceedings, (b) the Borrower or such Subsidiary has set aside on
its books adequate reserves with respect thereto in accordance with GAAP and (c)
the failure to make payment pending such contest could not reasonably be
expected to result in a Material Adverse Effect.

      Maintenance of Properties

            The Borrower will, and will cause each of the Subsidiaries to, keep
and maintain all property material to the conduct of its business in good
working order and condition, ordinary wear and tear excepted.

      Books and Records; Inspection Rights

            The Borrower will, and will cause each of the Subsidiaries to, keep
proper books of record and account in which full, true and correct entries are
made of all dealings and transactions in relation to its business and
activities. The Borrower will, and will cause each of the Subsidiaries to,
permit any representatives designated by the Administrative Agent or any Lender,
upon reasonable prior notice, to visit and inspect its properties, to examine
and make extracts from its books and records, and to discuss its affairs,
finances and condition with its officers and independent accountants, all at
such reasonable times and as often as reasonably requested.

      Compliance with Laws

            The Borrower will, and will cause each of the Subsidiaries to,
comply with all laws, rules, regulations and orders of any Governmental
Authority applicable to it or its property, except where the failure to do so,
individually or in the aggregate, could not reasonably be expected to result in
a Material Adverse Effect.

      Use of Proceeds

            The proceeds of the Loans will be used only (i) to refinance or
repay certain existing Indebtedness (ii) for working capital of the Borrower and
the Subsidiaries, (iii) to reimburse the Issuing Bank in respect of LC
Disbursements and (iv) to finance acquisitions permitted by Section 7.4(l).
Letters of Credit shall be issued only in support of the obligation of the
Borrower or a Subsidiary in favor of a beneficiary who has requested the
issuance of a letter of credit (x) as a condition to a transaction entered into
in the ordinary course of business, or (y) as support for Indebtedness permitted
by Section 7.1(a) incurred by the Borrower in connection with an acquisition
permitted by Section 7.4(l).

            No part of the proceeds of any Loan or any Letter of Credit will be
used, whether directly or indirectly, and whether immediately, incidentally or
ultimately, (i) to purchase, acquire or carry any Margin Stock, (ii) for any
purpose that entails a violation of any of the regulations of the Board,
including Regulations T, U and X or (iii) to make a loan to any director or
executive officer of the Borrower or any Subsidiary.

            The Borrower acknowledges that Lenders are subject to, among other
laws, rules and regulations, Section 23A and Section 23B of the Federal Reserve
Act, as amended from time to time, and hereby covenants and agrees not to use
any

<PAGE>

Borrowing (or the proceeds thereof) or Letter of Credit for the specific purpose
of benefiting or transferring any such Borrowing (or the proceeds thereof) or
Letter of Credit to, any affiliate of any Lender, including without limitation,
any Investment Company sponsored or organized by, or affiliated with any such
Lender.

      Insurance

            The Borrower will, and will cause each of the Subsidiaries to,
maintain, with financially sound and reputable insurance companies, adequate
insurance for its insurable properties, all to such extent and against such
risks, including fire, casualty, business interruption and other risks insured
against by extended coverage, as is customary with companies in the same or
similar businesses operating in the same or similar locations.

      Additional Subsidiaries

            If any Domestic Subsidiary (other than an Exempt Subsidiary) is
formed or acquired after the Closing Date and such Subsidiary is a Significant
Subsidiary or if any Domestic Subsidiary (other than an Exempt Subsidiary)
becomes a Significant Subsidiary, or if any Exempt Subsidiary that is a
Significant Subsidiary ceases to be an Exempt Subsidiary, the Borrower will
notify the Administrative Agent in writing thereof within ten Business Days
after the date on which such Domestic Subsidiary is formed or acquired, becomes
a Significant Subsidiary or ceases to be an Exempt Subsidiary, as applicable,
and the Borrower will cause such Domestic Subsidiary to execute and deliver the
Guarantee Agreement (or otherwise become a party thereto in the manner provided
therein) within thirty days after the date on which such Subsidiary is formed or
acquired, becomes a Significant Subsidiary or ceases to be an Exempt Subsidiary,
as applicable, together with such certificates and legal opinions as the
Administrative Agent shall require.

      Environmental Compliance

            The Borrower shall, and shall cause each of the Subsidiaries to, use
and operate all of its facilities and property in compliance with all
Environmental Laws, keep all necessary permits, approvals, certificates,
licenses and other authorizations relating to environmental matters in effect
and remain in compliance therewith, and handle all Hazardous Materials in
compliance with all applicable Environmental Laws, except where noncompliance
with any of the foregoing could not reasonably be expected to have a Material
Adverse Effect.

                               NEGATIVE COVENANTS

      Until the Commitments have expired or been terminated and the principal of
and interest on each Loan and all fees and other amounts payable under the Loan
Documents shall have been paid in full and all Letters of Credit have expired
and all LC Disbursements have been reimbursed, the Borrower covenants and agrees
with the Credit Parties that:

      Indebtedness; Equity Securities

            The Borrower will not, and will not permit any Subsidiary to,
create, incur, assume or permit to exist any Indebtedness, except:

                  Indebtedness under the Loan Documents;

                  (A) Indebtedness existing on the date hereof and set forth in
      Schedule 7.1, including, except as set forth in the proviso below,
      refinancings thereof but not increases in the amount of any thereof,
      provided that refinancings of such existing Indebtedness shall not be
      permitted unless the interest rate on any such refinanced Indebtedness is
      not in excess of the rate available for similar borrowings by similar
      borrowers at the time of the refinancing, the final maturity of such
      refinanced Indebtedness is not earlier than the Maturity Date, and if the
      Indebtedness being refinanced is subordinated to the Indebtedness under
      the Loan Documents, such refinanced Indebtedness shall be so subordinated
      on the same terms and to the same extent as such Indebtedness being so
      refinanced and (B) Indebtedness under the Prior Agreement and all
      agreements, instruments and other documents executed or delivered in
      connection therewith, provided that such Indebtedness is fully repaid on
      or before the Closing Date;

                  Indebtedness of the Borrower or any Subsidiary incurred to
      finance the acquisition, construction or improvement of any fixed or
      capital assets, including Capital Lease Obligations and any Indebtedness
      assumed in connection with the acquisition of any such assets or secured
      by a Lien on any such assets prior to the acquisition thereof, and
      extensions, renewals and replacements of any such Indebtedness that do not
      increase the outstanding principal amount thereof, provided that (A) such
      Indebtedness is incurred prior to or within 90 days after such acquisition
      or the completion of such construction or improvement and (B) the
      aggregate principal amount of Indebtedness permitted by this clause (iii)
      shall not exceed $10,000,000 at any time outstanding;

<PAGE>

                  Indebtedness of any Person that becomes a Subsidiary after the
      date hereof or which is otherwise incurred in connection with an
      acquisition permitted by Section 7.4(l), provided that (A) such
      Indebtedness exists at the time such Person becomes a Subsidiary or such
      acquisition, as applicable, and is not created in contemplation of or in
      connection with such Person becoming a Subsidiary, or such acquisition, as
      applicable, and (B) the aggregate principal amount of Indebtedness
      permitted by this clause (iv) shall not exceed $10,000,000 at any time
      outstanding;

                  Indebtedness of (A) the Borrower to any Domestic Subsidiary
      and of any Domestic Subsidiary to the Borrower or any other Domestic
      Subsidiary and (B) to the extent permitted by Section 7.4(d), the Borrower
      to any Foreign Subsidiary and of any Foreign Subsidiary to the Borrower or
      any other Foreign Subsidiary or Domestic Subsidiary;

                  Guarantees by (A) the Borrower of Indebtedness of any Domestic
      Subsidiary and by any Domestic Subsidiary of Indebtedness of the Borrower
      or any other Domestic Subsidiary and (B) any Foreign Subsidiary of
      Indebtedness of the Borrower and by any Foreign Subsidiary of Indebtedness
      of any other Foreign Subsidiary or Domestic Subsidiary;

                  Indebtedness of the Borrower incurred in connection with an
      acquisition permitted by Section 7.4(l), provided that (A) such
      Indebtedness is subordinated to the Indebtedness under the Loan Documents
      on terms and in form and substance satisfactory to the Administrative
      Agent and Required Lenders and (B) at the time of the incurrence thereof
      and immediately after giving effect thereto, no Default shall have
      occurred and be continuing;

                  Acquisition Related Contingent Payments incurred after the
      Closing Date with respect to acquisitions permitted by Section 7.4(l),
      which, at the time of the incurrence thereof, are commercially reasonable
      under the circumstances;

                  Indebtedness of the Borrower under performance Guarantees of
      the obligations of the Subsidiaries, provided that (A) such Guarantee is
      required as a condition of a Person retaining the services of a Subsidiary
      of the Borrower, (B) the obligations which are Guaranteed are not
      financial obligations (other than financial obligations incurred in the
      ordinary course of business), and (C) to the extent that any such
      obligations are financial obligations, (1) such obligations are not in
      excess of $20,000,000 in the aggregate or (2) the Guarantee in respect of
      such obligations is in a form to be negotiated that is mutually
      satisfactory to the Administrative Agent and the Borrower;

                  Indebtedness of the Borrower in respect of operating or
      capital leases of one or more of the Subsidiaries provided that in the
      case of Guarantees in respect of Capital Lease Obligations, such Capital
      Lease Obligations are permitted to be incurred pursuant to clause (iii)
      above;

                  Indebtedness of a Subsidiary of the Borrower in respect of
      Compensation Financings, provided that (A) at the time of the incurrence
      thereof and immediately after giving effect thereto, no Default shall have
      occurred and be continuing, and (B) such Indebtedness shall be unsecured
      or, if secured, shall be secured only by the 12b-1 Fees and/or Contingent
      Deferred Sales Commissions to which such Subsidiary is entitled from the
      Investment Company or its shareholders which is the subject of such
      Compensation Financings;

                  in addition to Indebtedness permitted under clause (iii)
      above, Capital Lease Obligations in connection with sale and leaseback
      transactions to the extent permitted by Section 7.6;

                  Indebtedness in respect of Subordinated Notes in an aggregate
      amount not in excess of $300,000,000;

                  Indebtedness of the Borrower or any of the Subsidiaries
      incurred in connection with a sale of receivables in respect of 12b-1 Fees
      and Contingent Deferred Sales Commissions, provided that at the time of
      the incurrence thereof and immediately after giving effect thereto, no
      Default shall have occurred and be continuing;

                  Indebtedness of the Borrower or any of the Subsidiaries
      incurred in connection with a sale of receivables (other than receivables
      described in clause (xiv) above) in a Securitization transaction permitted
      by Section 7.5(e)(ii), provided that (A) at the time of the incurrence
      thereof and immediately after giving effect thereto, no Default shall have
      occurred and be continuing, and (B) the creditor in respect of such
      Indebtedness shall have no recourse to the Borrower or such Subsidiary but
      may have recourse only to such receivables (including the right to require
      the Borrower or such Subsidiary to repurchase such receivables);

                  unsecured subordinated Indebtedness (the "Subordinated
      Refinancing Notes") of the Borrower which refinances in full the
      Subordinated Notes in an aggregate principal amount not in excess of the
      outstanding principal amount of the Subordinated Notes at the time of the
      issuance thereof; provided that (A) immediately before and after giving
      effect to the issuance of the Subordinated Refinancing Notes, no Default
      shall or would have occurred and be continuing, (B) the stated maturity
      thereof shall not be earlier than, and no amortization or other prepayment
      of principal (including as a result of a redemption, defeasance or put)
      shall be required prior to, April 1, 2009, (C) such Indebtedness is issued
      on terms, including subordination terms, and conditions acceptable to the
      Administrative Agent and Required Lenders (it

<PAGE>

      being understood and agreed that subordination terms substantially
      identical to the comparable terms of the Subordinated Notes shall be
      deemed acceptable); and

                  other unsecured Indebtedness of the Borrower (the "Permitted
      Notes") in an aggregate principal amount not in excess of $300,000,000;
      provided that (A) at the time of the incurrence thereof and immediately
      after giving effect thereto, no Default shall have occurred and be
      continuing, (B) the maturity date thereof shall be later than the Maturity
      Date, (C) the covenants applicable thereto shall be no more restrictive to
      the Borrower and the Subsidiaries than the covenants in this Credit
      Agreement (D) the events of default applicable thereto shall be no more
      extensive than the Events of Default, and (E) prior to the issuance
      thereof the Borrower shall deliver a certificate of a Financial Officer
      demonstrating pro forma compliance with Section 7.12 (attaching
      calculations in reasonable detail).

            The Borrower will not, and it will not permit any Subsidiary to, (i)
issue any equity securities which are of a class or series that, either by its
terms, by the terms of any security into which it is convertible or exchangeable
at the option of the holder thereof by contract or otherwise, is, or upon the
happening of an event or passage of time would be, required to be redeemed prior
to the Maturity Date or is redeemable at the option of the holder thereof at any
time on or prior to the Maturity Date, or is convertible into or exchangeable at
the option of the holder thereof for debt securities at any time prior to the
Maturity Date (as from time to time extended), or (ii) be or become liable in
respect of any obligation (contingent or otherwise) to purchase, redeem, retire,
acquire or make any other payment in respect of any shares of equity securities
of the Borrower or any Subsidiary or any option, warrant or other right to
acquire any such shares of equity securities, except as permitted under Section
7.8.

      Liens

            The Borrower will not, and will not permit any Subsidiary to,
create, incur, assume or permit to exist any Lien on any property or asset now
owned or hereafter acquired by it, or assign or sell any income or revenues
(including accounts receivable) or rights in respect of any thereof, except:

            Liens created under the Loan Documents;

            Permitted Encumbrances;

            any Lien on any property or asset of the Borrower or any Subsidiary
existing on the date hereof and set forth in Schedule 7.2, provided that (i)
such Lien shall not apply to any other property or asset of the Borrower or any
Subsidiary and (ii) such Lien shall secure only those obligations which it
secures on the date hereof and any extensions, renewals and replacements thereof
that do not increase the outstanding principal amount thereof;

            any Lien existing on any property or asset prior to the acquisition
thereof by the Borrower or any Subsidiary or existing on any property or asset
of any Person that becomes a Subsidiary after the date hereof prior to the time
such Person becomes a Subsidiary, provided that (i) such Lien is not created in
contemplation of or in connection with such acquisition or such Person becoming
a Subsidiary, as applicable, (ii) such Lien shall not apply to any other
property or assets of the Borrower or any Subsidiary and (iii) such Lien shall
secure only those obligations that it secures on the date of such acquisition or
the date such Person becomes a Subsidiary, as applicable, and any extensions,
renewals and replacements thereof that do not increase the outstanding principal
amount thereof;

            Liens on fixed or capital assets acquired, constructed or improved
by the Borrower or any Subsidiary, provided that (i) such security interests
secure Indebtedness permitted by clause (iii) of Section 7.1, (ii) such security
interests and the Indebtedness secured thereby are incurred prior to or within
90 days after such acquisition or the completion of such construction or
improvement, (iii) the Indebtedness secured thereby does not exceed the cost of
acquiring, constructing or improving such fixed or capital assets and (iv) such
security interests shall not apply to any other property or assets of the
Borrower or any Subsidiary; and

            Liens on receivables (i) in respect of 12b-1 Fees and Contingent
Deferred Sales Commissions to secure Indebtedness permitted by Section
7.1(a)(xiv) and (ii) sold in a Securitization transaction permitted by Section
7.5(e) to secure Indebtedness permitted by Section 7.1(a)(xv).

      Fundamental Changes; Line of Business; Fiscal Year

            The Borrower will not, and will not permit any Subsidiary to, merge
into or consolidate with any other Person, or permit any other Person to merge
into or consolidate with it, or sell, transfer, lease or otherwise dispose of
(in one transaction or in a series of transactions) all or substantially all of
its assets, or all or substantially all of the equity securities of any of the
Subsidiaries (in each case, whether now owned or hereafter acquired), or
liquidate or dissolve, except that, if at the time thereof and immediately after
giving effect thereto, no Default shall have occurred and be continuing:

                  any Subsidiary may merge into the Borrower in a transaction in
      which the Borrower is the surviving entity, any Subsidiary may merge into
      any Subsidiary Guarantor in a transaction in which such Subsidiary
      Guarantor is the surviving entity;

<PAGE>

                  any Subsidiary may merge with any Person in a transaction that
      is not permitted by clause (i) of this Section 7.3(a), provided that such
      merger is permitted by Section 7.4 or 7.5, as applicable;

                  any Subsidiary may sell, transfer, lease or otherwise dispose
      of its assets to the Borrower or to any Subsidiary Guarantor;

                  any Subsidiary that is not a Subsidiary Guarantor may merge
      into another Subsidiary that is not a Subsidiary Guarantor;

                  any Subsidiary Guarantor may merge into a Subsidiary that is
      not a Subsidiary Guarantor; provided, that the surviving entity of such
      merger shall become a Subsidiary Guarantor prior to the effectiveness of
      such merger; and

                  the Borrower or any Subsidiary may sell, transfer, lease or
      otherwise dispose of its assets in a transaction that is not permitted by
      clause (iii) of this Section 7.3(a), provided that such sale, transfer,
      lease or other disposition is also permitted by Section 7.5.

            The Borrower will not, and will not permit any of the Subsidiaries
to, engage to any material extent in any business other than businesses of the
type conducted by the Borrower and the Subsidiaries on the date of execution of
this Credit Agreement and businesses directly related thereto.

            The Borrower will not, and will not permit any of the Subsidiaries
to, change its fiscal year, provided that a Subsidiary whose fiscal year end is
not June 30 may change to a June 30 fiscal year end.

      Investments, Loans, Advances, Guarantees and Acquisitions

            The Borrower will not, and will not permit any of the Subsidiaries
to, purchase, hold or acquire (including pursuant to any merger) any capital
stock, evidences of indebtedness or other securities (including any option,
warrant or other right to acquire any of the foregoing) of, make or permit to
exist any loans or advances to, Guarantee any obligations of, or make or permit
to exist any investment or any other interest in, any other Person, or purchase
or otherwise acquire (in one transaction or a series of transactions (including
pursuant to any merger)) any assets of any other Person constituting a business
unit, except:

            Permitted Investments;

            investments existing on the date hereof and set forth in Schedule
7.4;

            investments made (i) by the Borrower in the equity securities of any
wholly-owned Domestic Subsidiary, (ii) by any wholly-owned Domestic Subsidiary
in the equity securities of any other wholly-owned Domestic Subsidiary, (iii) by
the Borrower or any Domestic Subsidiary in the equity securities of any
wholly-owned Foreign Subsidiary, provided that the aggregate amount of such
investments shall not exceed $5,000,000, and (iv) by any wholly-owned Foreign
Subsidiary in the equity securities of any other wholly-owned Subsidiary;

            loans or advances made (i) by the Borrower to any wholly-owned
Domestic Subsidiary, (ii) by any wholly-owned Domestic Subsidiary to the
Borrower or any wholly-owned Domestic Subsidiary, (iii) by any wholly-owned
Foreign Subsidiary to another wholly-owned Foreign Subsidiary, and (iv) by the
Borrower or any Subsidiary Guarantor to any Foreign Subsidiary; provided that
(A) such loans or advances shall be repayable on demand, (B) at the time thereof
and immediately after giving effect thereto no Default shall have occurred and
be continuing, (C) the outstanding principal amount of loans and advances
described in clause (iv) shall not exceed $20,000,000 outstanding at any time,
(D) at such time as the aggregate amount of loans and advances described in
clause (iv) shall exceed $10,000,000, demand promissory notes evidencing all
loans and advances described in clause (iv) shall be pledged as collateral to
the Administrative Agent pursuant to documentation in form and substance
satisfactory to the Administrative Agent and (E) the Borrower shall not permit
any Subsidiary that is an Investment Company within the meaning of the 1940 Act
or a Person deemed to be an "investment company" to incur Indebtedness described
in this subsection (d) as a result of the Borrower or any other Subsidiary
making an investment in such Subsidiary with the proceeds of Loans or Letters of
Credit;

            acquisitions made by the Borrower from any Domestic Subsidiary and
made by any Domestic Subsidiary from the Borrower or any other Domestic
Subsidiary;

            investments consisting of loans to employees of the Borrower or any
of the Subsidiaries made in the ordinary course of business, provided that at
the time of such loans and immediately after giving effect thereto no Default
shall have occurred and be continuing, provided further that no such loans shall
be made to any director or executive officer of (i) the Borrower or (ii) any
Subsidiary, in each case to the extent it will be a violation of applicable law;

            investments consisting of minority interests in substantially the
same or a related business to that of the Borrower or any of the Subsidiaries in
an aggregate amount not to exceed $20,000,000, provided that at the time thereof
and immediately after giving effect thereto no Default shall have occurred and
be continuing;

<PAGE>

            investments in shares of an Investment Company for which a
Subsidiary is a principal underwriter named in such Investment Company's
registration statement under the 1940 Act, provided that (i) such shares are
acquired by such Subsidiary prior to the public offering of such Investment
Company's shares, (ii) such shares are acquired by such Subsidiary solely for
purposes of enabling such Investment Company to satisfy the net worth
requirement of Section 14(a)(1) of the 1940 Act, and (iii) the amount paid for
such shares is limited to the amount necessary to enable such Investment Company
to satisfy the net worth requirement of Section 14(a)(1) of the 1940 Act plus an
additional $20,000,000 in the aggregate for all such investments, it being
understood that nothing herein shall require the sale of any such shares;

            investments in shares of open end management Investment Companies,
provided that after giving effect to any such investment, the consideration paid
for such shares, when aggregated with the consideration paid for all other such
shares then held by the Borrower and the Subsidiaries, shall not exceed 10% of
the value of Consolidated Total Assets as at such time of such investment;

            in addition to investments permitted by subsection (c) above,
capital contributions by the Borrower or any Subsidiary thereof to Exempt
Subsidiaries (other than a Subsidiary of the Borrower that is an Exempt
Subsidiary solely because of the applicability of clause (iii) of the definition
of "Exempt Subsidiary"), provided that (i) at the time thereof and immediately
after giving effect thereto no Default shall have occurred and be continuing,
and (ii) the amount of any such investment shall not exceed the amount necessary
to meet the net capital requirements applicable to such Exempt Subsidiaries;

            acquisitions by the Borrower or any Subsidiary of rights under a
contract or group of related contracts with a customer that had previously been
a party to a similar contract or group of contracts with another Person with
respect to which the Borrower or such Subsidiary has agreed to pay a fee to such
Person upon the successful negotiation, execution and delivery of a replacement
contract or group of contracts with such customer within a specified period of
time provided, that (i) at the time thereof and immediately after giving effect
thereto no Default shall have occurred and be continuing, (ii) the Total
Leverage Ratio on a pro forma basis for the period of four consecutive quarters
immediately succeeding the date on which such rights are acquired is less than
3.50:1.00 and (iii) the Administrative Agent and the Lenders shall have received
a certificate (in form and substance satisfactory to the Administrative Agent)
of a Financial Officer of the Borrower to the foregoing effect, setting forth
calculations in reasonable detail; and

            in addition to the acquisition of rights described in subsection (k)
above, other investments, loans, advances, Guarantees and acquisitions, provided
that (i) at the time thereof and immediately after giving effect thereto no
Default shall have occurred and be continuing and (ii) in the case of an
acquisition financed in whole or in part with the proceeds of Loans, the
conditions set forth in Section 5.2 shall have been satisfied.

      Asset Sales

            The Borrower will not, and will not permit any of the Subsidiaries
to, sell, transfer, lease or otherwise dispose (including pursuant to a merger)
of any asset, including any equity securities, nor will the Borrower permit any
of the Subsidiaries to issue any additional shares of its equity securities,
except:

            sales, transfers, leases and other dispositions of inventory, used
or surplus equipment and Permitted Investments, in each case in the ordinary
course of business;

            sales, transfers, leases and other dispositions made by the Borrower
to any Domestic Subsidiary and made by any Domestic Subsidiary to the Borrower
or any other Domestic Subsidiary;

            if at the time thereof and immediately after giving effect thereto
no Default shall have occurred and be continuing, other sales, transfers, leases
and other dispositions of assets, provided that (i) the assets sold,
transferred, leased or otherwise disposed of shall have (x) contributed less
than 15% of Consolidated EBITDA during the immediately preceding four fiscal
quarters and (y) represent less than 15% of Consolidated Total Assets as of the
most recently completed fiscal quarter, (ii) the aggregate fair market value of
all assets, sold, transferred, leased or otherwise disposed of in reliance upon
this subsection (d) shall not exceed 15% of Consolidated Total Assets as of the
most recently completed fiscal quarter, and (iii) all sales, transfers, leases
and other dispositions permitted by this subsection (d) shall be made for fair
value and solely for cash consideration;

            sales in respect of sale and leaseback transactions to the extent
permitted by Section 7.6; and

            if at the time thereof and immediately after giving effect thereto
no Default shall have occurred and be continuing, (i) sales of receivables in
respect of 12b-1 Fees and Contingent Deferred Sales Commissions, provided that
any Indebtedness incurred in connection with such receivables shall be permitted
by Section 7.1(a)(xiv) and (ii) sales of receivables (other than receivables
described in clause (i) above) in connection with a Securitization thereof,
provided that (x) any Indebtedness incurred in connection with such receivables
shall be permitted by Section 7.1(a)(xv) and (y) the amount of such receivables
sold in any period of 12 consecutive months shall not exceed $100,000,000.

<PAGE>

      Sale and Lease Back Transactions

            The Borrower will not, and will not permit any of the Subsidiaries
to, enter into any arrangement, directly or indirectly, with any Person whereby
it shall sell or transfer any property, real or personal, used or useful in its
business, whether now owned or hereafter acquired, and thereafter rent or lease
such property or other property that it intends to use for substantially the
same purpose or purposes as the property being sold or transferred if the
aggregate amount of rental payments to be made in connection with all such
transactions would exceed $20,000,000 in the aggregate.

      Hedging Agreements

            The Borrower will not, and will not permit any of the Subsidiaries
to, enter into any Hedging Agreement, other than Hedging Agreements entered into
in the ordinary course of business (including those entered into specifically in
connection with one or more underlying business transactions) to hedge or
mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct
of its business or the management of its liabilities.

      Restricted Payments

            The Borrower will not, and will not permit any of the Subsidiaries
to, declare or make, or agree to pay for or make, directly or indirectly, any
Restricted Payment, except that:

                  the Borrower may declare and pay dividends with respect to its
equity securities payable solely in additional shares of its equity securities;

                  any wholly-owned Subsidiary may declare and pay dividends with
respect to its equity securities to the Borrower or any other Subsidiary; and

                  if at the time thereof and immediately after giving effect
thereto no Default shall have occurred and be continuing, (i) the Borrower may
repurchase shares of its capital stock (including repurchases in connection with
the exercise of options granted to an employee of the Borrower or any of its
Subsidiaries under any stock option or employee stock purchase plan of the
Borrower); provided that such shares are used as consideration for an
acquisition permitted by Section 7.4(l) within one hundred and twenty (120) days
of such repurchase; and (ii) the Borrower may repurchase shares of its capital
stock, not subject to or included in the limitation in subsection (i) of this
subsection (c), in an aggregate amount not in excess of $60,000,000 in any
fiscal year on a non-cumulative basis, provided further, that if the Borrower
receives any amounts in cash during such fiscal year as the result of the
exercise of any option granted to an employee of the Borrower or any of its
Subsidiaries under any stock option or employee stock purchase plan of the
Borrower, the portion of the foregoing $60,000,000 limitation utilized during
such fiscal year shall be reduced by the amounts so received.

      Transactions with Affiliates

            The Borrower will not, and will not permit any of the Subsidiaries
to, sell, transfer, lease or otherwise dispose (including pursuant to a merger)
any property or assets to, or purchase, lease or otherwise acquire (including
pursuant to a merger) any property or assets from, or otherwise engage in any
other transactions with, any of its Affiliates, except in the ordinary course of
business at prices and on terms and conditions not less favorable to the
Borrower or such Subsidiary than could be obtained on an arms length basis from
unrelated third parties, provided that this Section shall not apply to any
transaction that is permitted under Section 7.1, 7.3, 7.4, 7.5 or 7.8, between
or among the Loan Parties and not involving any other Affiliate.

      Restrictive Agreements

            The Borrower will not, and will not permit any of the Subsidiaries
to, directly or indirectly, enter into, incur or permit to exist any agreement
or other arrangement that prohibits, restricts or imposes any condition upon (a)
the ability of the Borrower or any Subsidiary to create, incur or permit to
exist any Lien upon any of its property or assets or (b) the ability of any
Subsidiary to pay dividends or other distributions with respect to any shares of
its equity securities or to make or repay loans or advances to the Borrower or
any other Subsidiary or to Guarantee Indebtedness of the Borrower or any other
Subsidiary, provided that (i) the foregoing shall not apply to restrictions and
conditions imposed by law or by this Credit Agreement, (ii) the foregoing shall
not apply to restrictions and conditions existing on the date hereof identified
on Schedule 7.10 (but shall apply to any extension or renewal of, or any
amendment or modification expanding the scope of, any such restriction or
condition), (iii) the foregoing shall not apply to customary restrictions and
conditions contained in agreements relating to the sale of a Subsidiary pending
such sale, provided that such restrictions and conditions apply only to the
Subsidiary that is to be sold and such sale is permitted hereunder, (iv) clause
(a) of this Section shall not apply to restrictions or conditions imposed by any
agreement relating to secured Indebtedness permitted by this Credit Agreement if
such restrictions or conditions apply only to the property or assets securing
such Indebtedness and (v) clause (a) of this Section shall not apply to
customary provisions in leases restricting the assignment thereof.

<PAGE>

      Amendment of Material Documents

            The Borrower will not, and will not permit any Subsidiary to, amend
or modify its certificate of incorporation, by laws or other organizational
documents, other than amendments, modifications or waivers that would not
reasonably be expected to adversely affect the Credit Parties.

      Financial Covenants

            Total Leverage Ratio. The Borrower will not permit the Total
Leverage Ratio at any time to be greater than 3.50:1.00.

            Senior Leverage Ratio. The Borrower will not permit the Senior
Leverage Ratio at any time to be greater than 2.50:1.00.

            Fixed Charge Coverage Ratio. The Borrower will not permit the Fixed
Charge Coverage Ratio as of the end of any fiscal quarter to be less than
2.00:1.00.

            Consolidated Net Worth. The Borrower will not permit Consolidated
Net Worth as of the last day of each fiscal quarter to be less than the sum,
without duplication, of (i) $685,842,900, plus (ii) 60% of Consolidated Net
Income (if positive) for each fiscal quarter commencing after December 31, 2003
to the date of such determination, plus (iii) with respect to any issuance of by
the Borrower of Equity Interests (other than treasury stock) after the Closing
Date, (A) in the case of any such issuance in connection with an acquisition,
85% of the total increase in its stockholder's equity as a result of such
acquisition and (B) in all other cases, 85% of the total net proceeds received
by it from such issuance.

            Ratio of Funded Indebtedness to Capitalization. The Borrower will
not at any time permit the ratio of (i) Consolidated Total Debt to (ii) the sum
of (x) Consolidated Net Worth plus (y) Consolidated Total Debt to be greater
than 0.50:1.00.

                                EVENTS OF DEFAULT

            If any of the following events (each an "Event of Default") shall
occur:

            the Borrower shall fail to pay any principal of any Loan or any
reimbursement obligation in respect of any LC Disbursement when and as the same
shall become due and payable, whether at the due date thereof or at a date fixed
for prepayment thereof or otherwise;

            the Borrower shall fail to pay any interest on any Loan or on any
reimbursement obligation in respect of any LC Disbursement or any fee,
commission or any other amount (other than an amount referred to in clause (a)
of this Article) payable under any Loan Document, when and as the same shall
become due and payable, and such failure shall continue unremedied for a period
of three Business Days;

            any representation or warranty made or deemed made by or on behalf
of any Loan Party or any other Subsidiary in or in connection with any Loan
Document or any amendment or modification hereof or waiver thereunder, or in any
report, certificate, financial statement or other document furnished pursuant to
or in connection with any Loan Document or any amendment or modification hereof
or waiver thereunder, shall prove to have been incorrect in any material respect
when made or deemed made;

            the Borrower shall fail to observe or perform any covenant,
condition or agreement contained in Section 6.3, 6.8, or 6.10 or in Article 7,
or any Loan Party shall fail to observe or perform any covenant, condition or
agreement contained in any other Loan Document, in each case to which it is a
party;

            any Loan Party shall fail to observe or perform any covenant,
condition or agreement contained in any Loan Document to which it is a party
(other than those specified in clause (a), (b) or (d) of this Article), and such
failure shall continue unremedied for a period of 30 days after a Responsible
Officer of such Loan Party shall have obtained knowledge thereof;

            the Borrower or any Subsidiary shall fail to make any payment
(whether of principal or interest and regardless of amount) in respect of any
Material Indebtedness, when and as the same shall become due and payable (after
giving effect to any applicable grace period);

            any event or condition occurs that results in any Material
Indebtedness becoming due prior to its scheduled maturity or that enables or
permits (with or without the giving of notice, the lapse of time or both) the
holder or holders of any Material Indebtedness or any trustee or agent on its or
their behalf to cause any Material Indebtedness to become due, or to require

<PAGE>

the prepayment, repurchase, redemption or defeasance thereof, prior to its
scheduled maturity (in each case after giving effect to any applicable grace
period), provided that this clause (g) shall not apply to secured Indebtedness
that becomes due solely as a result of the voluntary sale or transfer of the
property or assets securing such Indebtedness;

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

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

            the Borrower, any Significant Subsidiary or any other Loan Party
shall become unable, admit in writing its inability or fail generally to pay its
debts as they become due;

            one or more judgments for the payment of money in an aggregate
amount in excess of $10,000,000 (exclusive of amounts covered by insurance
issued by an insurer not an Affiliate of the Borrower that does not dispute
coverage) shall be rendered against the Borrower or any Subsidiary or any
combination thereof and the same shall remain undischarged for a period of 30
consecutive days during which execution shall not be effectively stayed, or any
action shall be legally taken by a judgment creditor to attach or levy upon any
assets of the Borrower or any Subsidiary to enforce any such judgment;

            an ERISA Event shall have occurred that, in the opinion of the
Required Lenders, when taken together with all other ERISA Events that have
occurred, could reasonably be expected to result in a Material Adverse Effect;

            any Loan Document shall cease, for any reason, to be in full force
and effect, or any Loan Party shall so assert in writing or shall disavow any of
its obligations thereunder or

            a Change in Control shall occur;

then, and in every such event (other than an event described in clause (h) or
(i) of this Article), and at any time thereafter during the continuance of such
event, the Administrative Agent may, and at the request of the Required Lenders
shall, by notice to the Borrower, take either or both of the following actions
(whether before or after the Closing Date), at the same or different times: (i)
terminate the Commitments, and thereupon the Commitments shall terminate
immediately and (ii) declare the Loans then outstanding to be due and payable in
whole (or in part, in which case any principal not so declared to be due and
payable may thereafter be declared to be due and payable), and thereupon the
principal of the Loans so declared to be due and payable, together with accrued
interest thereon and all fees and other obligations of each Loan Party accrued
under the Loan Documents, shall become due and payable immediately, without
presentment, demand, protest or other notice of any kind, all of which are
hereby waived by the Borrower; and in case of any event described in clause (h)
or (i) of this Article, the Commitments shall automatically terminate (whether
before or after the Closing Date) and the principal of the Loans then
outstanding, together with accrued interest thereon and all fees and other
obligations of each Loan Party accrued under the Loan Documents, shall
automatically become due and payable, without presentment, demand, protest or
other notice of any kind, all of which are hereby waived by the Borrower.

                            THE ADMINISTRATIVE AGENT

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

      The Person serving as the Administrative Agent hereunder shall have the
same rights and powers in its capacity as a Lender as any other Lender and may
exercise the same as though it were not the Administrative Agent, and such
Person and its Affiliates may accept deposits from, lend money to and generally
engage in any kind of business with the Borrower or any Subsidiary or other
Affiliate thereof as if it were not the Administrative Agent hereunder.

<PAGE>

      The Administrative Agent shall not have any duties or obligations except
those expressly set forth herein. Without limiting the generality of the
foregoing, (i) the Administrative Agent shall not be subject to any fiduciary or
other implied duties, regardless of whether a Default has occurred and is
continuing, (ii) the Administrative Agent shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated by the Loan Documents that the
Administrative Agent is required to exercise in writing by the Required Lenders
(or such other number or percentage of the Credit Parties as shall be necessary
under the circumstances as provided in Section 10.2), and (iii) except as
expressly set forth herein, the Administrative Agent shall not have any duty to
disclose, and shall not be liable for the failure to disclose, any information
relating to the Borrower, any of the Subsidiaries or any other Loan Party that
is communicated to or obtained by the Person serving as Administrative Agent or
any of its Affiliates in any capacity. The Administrative Agent shall not be
liable for any action taken or not taken by it with the consent or at the
request of the Required Lenders (or such other number or percentage of the
Credit Parties as shall be necessary under the circumstances as provided in
Section 10.2) or in the absence of its own gross negligence or willful
misconduct. The Administrative Agent shall be deemed not to have knowledge of
any Default unless and until written notice thereof is given to the
Administrative Agent by the Borrower or a Credit Party (and, promptly after its
receipt of any such notice, it shall give each Credit Party and the Borrower
notice thereof), and the Administrative Agent shall not be responsible for or
have any duty to ascertain or inquire into (a) any statement, warranty or
representation made in or in connection with any Loan Document, (b) the contents
of any certificate, report or other document delivered thereunder or in
connection therewith, (c) the performance or observance of any of the covenants,
agreements or other terms or conditions set forth therein, (d) the validity,
enforceability, effectiveness or genuineness thereof or any other agreement,
instrument or other document or (e) the satisfaction of any condition set forth
in Article 5 or elsewhere herein, other than to confirm receipt of items
expressly required to be delivered to the Administrative Agent.

      The Administrative Agent shall be entitled to rely upon, and shall not
incur any liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing believed by it to be genuine
and to have been signed or sent by the proper Person. The Administrative Agent
also may rely upon any statement made to it orally or by telephone and believed
by it to be made by the proper Person, and shall not incur any liability for
relying thereon. The Administrative Agent may consult with legal counsel (who
may be counsel for the Loan Parties), independent accountants and other experts
selected by it, and shall not be liable for any action taken or not taken by it
in accordance with the advice of any such counsel, accountants or experts.

      The Administrative Agent may perform any and all its duties and exercise
its rights and powers by or through any one or more sub agents appointed by the
Administrative Agent, provided that no such delegation shall serve as a release
of the Administrative Agent or waiver by the Borrower of any rights hereunder.
The Administrative Agent and any such sub agent may perform any and all its
duties and exercise its rights and powers through their respective Related
Parties. The exculpatory provisions of the preceding paragraphs shall apply to
any such sub agent and to the Related Parties of the Administrative Agent and
any such sub agent, and shall apply to their respective activities in connection
with the syndication of the credit facilities provided for herein as well as
activities as Administrative Agent.

      Subject to the appointment and acceptance of a successor Administrative
Agent as provided in this paragraph, the Administrative Agent may resign at any
time by notifying the Credit Parties and the Borrower. Upon any such
resignation, the Required Lenders shall have the right, in consultation with the
Borrower, to appoint a successor. If no successor shall have been so appointed
by the Required Lenders and shall have accepted such appointment within 30 days
after the retiring Administrative Agent gives notice of its resignation, then
the retiring Administrative Agent may, on behalf of the Credit Parties, appoint
a successor Administrative Agent which shall be a commercial bank with an office
in New York, New York, or an Affiliate of any such bank. Upon the acceptance of
its appointment as Administrative Agent hereunder by a successor, such successor
shall succeed to and become vested with all the rights, powers, privileges and
duties of the retiring Administrative Agent, and the retiring Administrative
Agent shall be discharged from its duties and obligations hereunder. The fees
payable by the Borrower to a successor Administrative Agent shall be the same as
those payable to its predecessor unless otherwise agreed between the Borrower
and such successor. After the Administrative Agent's resignation hereunder, the
provisions of this Article and Section 10.3 shall continue in effect for the
benefit of such retiring Administrative Agent, its sub agents and their
respective Related Parties in respect of any actions taken or omitted to be
taken by any of them while it was acting as Administrative Agent.

      Each Credit Party acknowledges that it has, independently and without
reliance upon the Administrative Agent or any other Credit Party and based on
such documents and information as it has deemed appropriate, made its own credit
analysis and decision to enter into this Credit Agreement. Each Credit Party
also acknowledges that it will, independently and without reliance upon the
Administrative Agent or any other Credit Party and based on such documents and
information as it shall from time to time deem appropriate, continue to make its
own decisions in taking or not taking action under or based upon any Loan
Document, any related agreement or any document furnished thereunder.

      Notwithstanding anything in any Loan Document to the contrary, no Agent
acting in such capacity other than the Administrative Agent shall have any duty
or obligation under the Loan Documents.

<PAGE>

                                  MISCELLANEOUS

      Notices

            Except in the case of notices and other communications expressly
permitted to be given by telephone, all notices and other communications
provided for herein shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail or sent by
facsimile, as follows:

            if to the Borrower, to it at The BISYS Group, Inc., 90 Park Avenue,
New York, New York 10016, Attention of the Chief Financial Officer thereof
(Telephone No. (212) 907-6000, Facsimile No. (212) 907-6001) with a copy to The
BISYS Group, Inc., 90 Park Avenue, New York, New York 10016, Attention of the
General Counsel thereof (Telephone No. (212) 907-6036, Facsimile No. (212)
907-6035));

            if to the Administrative Agent, or BNY as Issuing Bank to it at One
Wall Street, New York, New York 10286, Attention of: Ramona Washington
(Telephone No. (212) 635-4699; Facsimile No. (212) 635-6365 or 6366 or 6367);
with a copy to The Bank of New York, at 385 Rifle Camp Road, West Paterson, NJ
07424, Attention of: Steven L. Wexler (Telephone No. (973) 357-7756; Facsimile
No. (973) 357-7705); and

            if to any other Credit Party, to it at its address (or facsimile
number) set forth in its Administrative Questionnaire.

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

      Waivers; Amendments

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

            Neither any Loan Document nor any provision thereof may be waived,
amended or modified except pursuant to an agreement or agreements in writing
entered into by the Borrower and the Required Lenders or by the Borrower and the
Administrative Agent with the consent of the Required Lenders, provided that no
such agreement shall (i) increase any Commitment of any Lender without the
written consent of such Lender, or increase the amount of the Letter of Credit
Commitment without the consent of the Issuing Bank, (ii) reduce the principal
amount of any Loan or any reimbursement obligation with respect to a LC
Disbursement, or reduce the rate of any interest (other than under Section
3.1(d)), or reduce any fees, payable under the Loan Documents, without the
written consent of each Credit Party affected thereby, (iii) postpone the date
of payment at stated maturity of any Loan, the date of any amortization payment
under Section 2.8(b) or the date of payment of any reimbursement obligation with
respect to an LC Disbursement, any interest or any fees payable under the Loan
Documents, or reduce the amount of, waive or excuse any such payment, or
postpone the stated termination or expiration of the Revolving Commitments
without the written consent of each Credit Party affected thereby, (iv) change
any provision hereof in a manner that would alter the pro rata sharing of
payments required by Section 2.11(b), without the written consent of each Credit
Party affected thereby, (v) change any of the provisions of this Section or the
definitions of the terms "Required Lenders" or "Supermajority Lenders" or any
other provision hereof specifying the number or percentage of Lenders required
to waive, amend or modify any rights hereunder or make any determination or
grant any consent hereunder, or change the currency in which Loans are to be
made, Letters of Credit are to be issued or payment under the Loan Documents is
to be made, or add additional borrowers, without the written consent of each
Lender, (vi) release any Subsidiary Guarantor from its Guarantee under the
Guarantee Documents (except as expressly provided therein), or limit its
liability in respect of such Guarantee, without the written consent of each
Lender, provided that a Subsidiary Guarantor which, as of the last day of the
most recently completed fiscal quarter, represented less than 3% of Consolidated
Total Assets and which represented less than 3% of Consolidated EBITDA for the
four consecutive quarter period ending on such day, may be released from its
Guarantee under the Guarantee Documents or its liability limited in respect of
such Guarantee so long as the sum of the percentages of Consolidated Total
Assets and Consolidated EBITDA for all Subsidiary Guarantors released under this
proviso does not exceed 10% and the Supermajority Lenders consent thereto in
writing, and provided further that no such agreement shall amend, modify or
otherwise affect the rights or duties of the Administrative Agent, the Issuing
Bank or the Swingline Lender hereunder without the prior written consent of the
Administrative Agent, the Issuing Bank or the Swingline Lender, as applicable.

<PAGE>

      Expenses; Indemnity; Damage Waiver

            The Borrower shall pay (i) all reasonable out-of-pocket costs and
expenses incurred by the Administrative Agent and its Affiliates, including the
reasonable fees, charges and disbursements of counsel for the Administrative
Agent, in connection with the syndication of the credit facilities provided for
herein, the preparation and administration of each Loan Document or any
amendments, modifications or waivers of the provisions thereof (whether or not
the transactions contemplated thereby shall be consummated), (ii) all
out-of-pocket costs and expenses incurred by the Issuing Bank in connection with
the issuance, amendment, renewal or extension of any Letter of Credit or any
demand for payment thereunder and (iii) all out-of-pocket costs and expenses
incurred by any Credit Party, including the reasonable fees, charges and
disbursements of any counsel for any Credit Party and any consultant or expert
witness fees and expenses, in connection with the enforcement or protection of
its rights in connection with the Loan Documents, including its rights under
this Section, or in connection with the Loans made or Letters of Credit issued
hereunder, including all such reasonable out-of-pocket costs and expenses
incurred during any workout, restructuring or negotiations in respect of such
Loans or Letters of Credit.

            The Borrower shall defend and indemnify each Credit Party and each
Related Party thereof (each such Person being called an "Indemnitee") against,
and hold each Indemnitee harmless from, any and all losses, claims, damages,
liabilities and related expenses, including the reasonable fees, charges and
disbursements of any counsel for any Indemnitee, incurred by or asserted against
any Indemnitee arising out of, in connection with, or as a result of (i) the
execution or delivery of any Loan Document or any agreement or instrument
contemplated thereby, the performance by the parties to the Loan Documents of
their respective obligations thereunder or the consummation of the Transactions
or any other transactions contemplated thereby, (ii) any Loan or Letter of
Credit or the use of the proceeds thereof including any refusal of the Issuing
Bank to honor a demand for payment under a Letter of Credit if the documents
presented in connection with such demand do not strictly comply with the terms
of such Letter of Credit, (iii) any actual or alleged presence or release of
Hazardous Materials on or from any property owned or operated by the Borrower or
any of the Subsidiaries, or any Environmental Liability related in any way to
the Borrower or any of the Subsidiaries or (iv) any actual or prospective claim,
litigation, investigation or proceeding relating to any of the foregoing,
whether based on contract, tort or any other theory and regardless of whether
any Indemnitee is a party thereto, provided that such indemnity shall not, as to
any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses are determined by a court of competent
jurisdiction by final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Indemnitee.

            To the extent that the Borrower fails to pay any amount required to
be paid by it to the Administrative Agent, the Issuing Bank or the Swingline
Lender under paragraph (a) or (b) of this Section, each Lender severally agrees
to pay to the Administrative Agent or the Issuing Bank, as applicable, an amount
equal to the product of such unpaid amount multiplied by a fraction, the
numerator of which is the sum of such Lender's unused Commitments(other than the
Swingline Commitment), the outstanding principal balance of such Lender's Loans
and such Lender's LC Exposure and the denominator of which is the sum of the
unused Commitments(other than the Swingline Commitment), the outstanding
principal balance of all Lenders Loans and the LC Exposure of all Lenders (in
each case determined as of the time that the applicable unreimbursed expense or
indemnity payment is sought or, in the event that no Lender shall have any
unused Commitments, outstanding Loans or LC Exposure at such time, as of the
last time at which any Lender had any unused Commitments(other than the
Swingline Commitment), outstanding Loans or LC Exposure), provided that the
unreimbursed expense or indemnified loss, claim, damage, liability or related
expense, as applicable, was incurred by or asserted against the Administrative
Agent or the Issuing Bank, as applicable, in its capacity as such.

            To the extent permitted by applicable law, the Borrower shall not
assert, and hereby waives, any claim against any Indemnitee, on any theory of
liability, for special, indirect, consequential or punitive damages (as opposed
to direct and actual damages) arising out of, in connection with, or as a result
of, any Loan Document or any agreement, instrument or other document
contemplated thereby, the Transactions or any Loan or any Letter of Credit or
the use of the proceeds thereof.

            All amounts due under this Section shall be payable promptly but in
no event later than ten days after written demand therefor.

      Successors and Assigns

            The provisions of the Loan Documents shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and assigns
permitted hereby, except that the Borrower may not assign or otherwise transfer
any of its rights or obligations hereunder without the prior written consent of
each Credit Party (and any attempted assignment or transfer by the Borrower
without such consent shall be null and void). Nothing in the Loan Documents,
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, the Related Parties of each
Credit Party) any legal or equitable right, remedy or claim under or by reason
of any Loan Document.

            Any Lender may assign to one or more assignees all or a portion of
its rights and obligations under the Loan Documents (including all or a portion
of its Revolving Commitment or obligations in respect of its LC Exposure or
Swingline Exposure and/or Term Commitment and the applicable Loans at the time
owing to it), provided that (i) except in the case of an assignment to a Lender
or an Affiliate or an Approved Fund of a Lender, each of the Borrower and the
Administrative Agent (and, in the case of an assignment of all or any portion of
its Revolving Commitment or obligations in respect of its LC Exposure or

<PAGE>

Swingline Exposure, the Issuing Bank and/or the Swingline Lender, as the case
may be) must give its prior written consent to such assignment (which consent
shall not be unreasonably withheld or delayed)), (ii) except in the case of an
assignment to a Lender or an Affiliate or an Approved Fund of a Lender or an
assignment of the entire remaining amount of the assigning Lender's Revolving
Commitment and/or Term Commitment, as applicable, and the applicable Loans at
the time owing to it, the aggregate amount of the Revolving Commitment and/or
Term Commitment (or Term Loans), as applicable, of the assigning Lender subject
to each such assignment (determined as of the date the Assignment and Acceptance
with respect to such assignment is delivered to the Administrative Agent) shall
not be less than $10,000,000 unless the Borrower and the Administrative Agent
otherwise consent, (iii) no assignments to the Borrower or any of its Affiliates
shall be permitted, (iv) the parties to each assignment shall execute and
deliver to the Administrative Agent an Assignment and Acceptance together with,
unless otherwise agreed by the Administrative Agent, a processing and
recordation fee of $3,500, and (v) the assignee, if it shall not be a Lender,
shall deliver to the Administrative Agent an Administrative Questionnaire, and
provided, further, that any consent of the Borrower otherwise required under
this paragraph shall not be required if a Default has occurred and is
continuing. Subject to acceptance and recording thereof pursuant to paragraph
(d) of this Section, from and after the effective date specified in each
Assignment and Acceptance, the assignee thereunder shall be a party hereto and,
to the extent of the interest assigned by such Assignment and Acceptance, have
the rights and obligations of a Lender under the Loan Documents, and the
assigning Lender thereunder shall, to the extent of the interest assigned by
such Assignment and Acceptance, be released from its obligations under the Loan
Documents (and, in the case of an Assignment and Acceptance covering all of the
assigning Lender's rights and obligations under the Loan Documents, such Lender
shall cease to be a party hereto but shall continue to be entitled to the
benefits of Sections 3.5, 3.6, 3.7 and 10.3). Any assignment or transfer by a
Lender of rights or obligations under the Loan Documents that does not comply
with this paragraph shall be treated for purposes of the Loan Documents as a
sale by such Lender of a participation in such rights and obligations in
accordance with paragraph (e) of this Section.

            The Administrative Agent, acting for this purpose as an agent of the
Borrower, shall maintain a copy of each Assignment and Acceptance delivered to
it and a register for the recordation of the names and addresses of the Lenders,
and the Commitments of, and principal amount of the Loans owing to, each Lender
pursuant to the terms hereof from time to time (the "Register"). The entries in
the Register shall be conclusive absent clearly demonstrable error, and the
Borrower and each Credit Party may treat each Person whose name is recorded in
the Register pursuant to the terms hereof as a Lender hereunder for all purposes
of this Credit Agreement, notwithstanding notice to the contrary. The Register
shall be available for inspection by the Borrower and any Credit Party, at any
reasonable time and from time to time upon reasonable prior notice.

            Upon its receipt of a duly completed Assignment and Acceptance
executed by an assigning Lender and an assignee, the assignee's completed
Administrative Questionnaire (unless the assignee shall already be a Lender
hereunder), the processing and recordation fee referred to in paragraph (b) of
this Section and any written consent to such assignment required by paragraph
(b) of this Section, the Administrative Agent shall accept such Assignment and
Acceptance and promptly record the information contained therein in the
Register. No assignment shall be effective for purposes of this Credit Agreement
unless it has been recorded in the Register as provided in this paragraph.
Unless an assignee shall already be a Lender hereunder, the Borrower shall
execute and deliver a Note to such assignee.

            Any Lender may, without the consent of the Borrower or any Credit
Party, sell participations to one or more banks or other entities other than the
Borrower or any of its Affiliates (each such bank or other entity being called a
"Participant") in all or a portion of such Lender's rights and obligations under
the Loan Documents (including all or a portion of its Commitments, LC Exposure,
Swingline Exposure and outstanding Loans owing to it), provided that (i) such
Lender's obligations under the Loan Documents shall remain unchanged, (ii) such
Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations and (iii) the Loan Parties and the Credit
Parties shall continue to deal solely and directly with such Lender in
connection with such Lender's rights and obligations under the Loan Documents.
Any agreement or instrument pursuant to which a Lender sells such a
participation shall provide that such Lender shall retain the sole right to
enforce the Loan Documents and to approve any amendment, modification or waiver
of any provision of any Loan Documents, provided that such agreement or
instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, modification or waiver described in the
first proviso to Section 10.2(b) that affects such Participant. Subject to
paragraph (f) of this Section, the Borrower agrees that each Participant shall
be entitled to the benefits of Sections 3.5, 3.6 and 3.7 to the same extent as
if it were a Lender and had acquired its interest by assignment pursuant to
paragraph (b) of this Section. To the extent permitted by law, each Participant
also shall be entitled to the benefits of Section 10.8 as though it were a
Lender, provided that such Participant agrees to be subject to Section 2.11(c)
as though it were a Lender.

            A Participant shall not be entitled to receive any greater payment
under Section 3.5 or 3.7 than the Lender that sold the participation to such
Participant would have been entitled to receive with respect to the interest in
the Loan Documents subject to the participation sold to such Participant, unless
the sale of the participation to such Participant is made with the Borrower's
prior written consent. A Participant that would be a Foreign Lender if it were a
Lender shall not be entitled to the benefits of Section 3.7 unless the Borrower
is notified of the participation sold to such Participant and such Participant
agrees, for the benefit of the Borrower, to comply with Section 3.7(e) as though
it were a Lender.

            Any Lender may at any time pledge or assign a security interest in
all or any portion of its rights under the Loan Documents to secure obligations
of such Lender, including any pledge or assignment to secure obligations to a
Federal Reserve Bank, and this Section shall not apply to any such pledge or
assignment of a security interest, provided that no such pledge or assignment of
a security interest shall release a Lender from any of its obligations under the
Loan Documents or substitute any such pledgee or assignee for such Lender as a
party hereto.

<PAGE>

      Survival

            All covenants, agreements, representations and warranties made by
the Borrower herein and in the certificates or other instruments prepared or
delivered in connection with or pursuant to this Credit Agreement or any other
Loan Document shall be considered to have been relied upon by the other parties
hereto and shall survive the execution and delivery of any Loan Document and the
making of any Loans and the issuance of any Letter of Credit, regardless of any
investigation made by any such other party or on its behalf and notwithstanding
that any Credit Party may have had notice or knowledge of any Default or
incorrect representation or warranty at the time any credit is extended
hereunder, and shall continue in full force and effect as long as the principal
of or any accrued interest on any Loan or any LC Disbursement or any fee or any
other amount payable under the Loan Documents is outstanding and unpaid or any
Letter of Credit is outstanding and so long as the Commitments have not expired
or terminated. The provisions of Sections 3.5, 3.6, 3.7 and 10.3, 10.9, 10.10
and Article 9 shall survive and remain in full force and effect regardless of
the consummation of the transactions contemplated hereby, the repayment of the
Loans and the LC Disbursements, the expiration or termination of the Letters of
Credit and the termination of the Commitments or the termination of this Credit
Agreement or any provision hereof.

      Counterparts; Integration; Effectiveness

            This Credit Agreement may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall
constitute an original, but all of which, when taken together, shall constitute
but one contract. This Credit Agreement and any separate letter agreements with
respect to fees payable to any Credit Party or the syndication of the credit
facilities established hereunder constitute the entire contract among the
parties relating to the subject matter hereof and supersede any and all previous
agreements and understandings, oral or written, relating to the subject matter
hereof. Except as provided in Section 5.1, this Credit Agreement shall become
effective when it shall have been executed by the Administrative Agent and when
the Administrative Agent shall have received counterparts hereof which, when
taken together, bear the signatures of each of the other parties and thereafter
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns. Delivery of an executed counterpart of this
Credit Agreement by facsimile transmission shall be effective as delivery of a
manually executed counterpart of this Credit Agreement.

      Severability

            In the event any one or more of the provisions contained in this
Credit Agreement should be held invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions
contained herein shall not in any way be affected or impaired thereby (it being
understood that the invalidity of a particular provision in a particular
jurisdiction shall not in and of itself affect the validity of such provision in
any other jurisdiction). The parties shall endeavor in good faith negotiations
to replace the invalid, illegal or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of
the invalid, illegal or unenforceable provisions.

      Right of Setoff

            If an Event of Default shall have occurred and be continuing, each
of the Lenders and their respective Affiliates is hereby authorized at any time
and from time to time, to the fullest extent permitted by applicable law, to
setoff and apply any and all deposits (general or special, time or demand,
provisional or final) at any time held and other obligations at any time owing
by it to or for the credit or the account of the Borrower against any of and all
the obligations of the Borrower now or hereafter existing under this Credit
Agreement and the other Loan Documents held by it, irrespective of whether or
not it shall have made any demand therefor and although such obligations may be
unmatured. The rights of each of the Lenders and their respective Affiliates
under this Section are in addition to other rights and remedies (including other
rights of setoff) that it may have. Each Lender agrees (i) to notify the
Administrative Agent in writing within three business days after each such
set-off and application made by such Lender and (ii) to comply with Section
2.11(c) of this Agreement.

      Governing Law; Jurisdiction; Consent to Service of Process

            This Credit Agreement shall be governed by, and construed in
accordance with, the laws of the State of New York.

            The Borrower hereby irrevocably and unconditionally submits, for
itself and its property, to the nonexclusive jurisdiction of any New York State
court or Federal court of the United States of America sitting in New York City,
and any appellate court from any thereof, in any action or proceeding arising
out of or relating to this Credit Agreement or the other Loan Documents, or for
recognition or enforcement of any judgment, and each of the parties hereto
hereby irrevocably and unconditionally agrees that, to the extent permitted by
applicable law, all claims in respect of any such action or proceeding may be
heard and determined in such New York State court or, to the extent permitted by
applicable law, in such Federal court. Each of the parties hereto agrees that a
final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law. Nothing in this Credit Agreement shall affect any right that
the Administrative Agent or any other Credit Party may otherwise have to bring
any action or proceeding relating to this Credit Agreement or the other Loan
Documents against the Borrower, or any of its property, in the courts of any
jurisdiction.

<PAGE>

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

            The Borrower irrevocably consents to service of process in the
manner provided for notices in Section 10.1. Nothing in this Credit Agreement
will affect the right of any party to this Credit Agreement to serve process in
any other manner permitted by law.

      WAIVER OF JURY TRIAL

            EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH
THIS CREDIT AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS. EACH PARTY HERETO (A)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES
THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS CREDIT
AGREEMENT AND THE OTHER LOAN DOCUMENTS TO WHICH IT IS A PARTY BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

      Headings

            Article and Section headings and the Table of Contents used herein
are for convenience of reference only, are not part of this Credit Agreement and
shall not affect the construction of, or be taken into consideration in
interpreting, this Credit Agreement.

      Interest Rate Limitation

            Notwithstanding anything herein to the contrary, if at any time the
interest rate applicable to any Loan or LC Disbursement, together with all fees,
charges and other amounts that are treated as interest thereon under applicable
law (collectively the "charges"), shall exceed the maximum lawful rate (the
"maximum rate") that may be contracted for, charged, taken, received or reserved
by the Lender holding an interest in such Loan or LC Disbursement in accordance
with applicable law, the rate of interest payable in respect of such Loan or LC
Disbursement hereunder, together with all of the charges payable in respect
thereof, shall be limited to the maximum rate and, to the extent lawful, the
interest and the charges that would have been payable in respect of such Loan or
LC Disbursement but were not payable as a result of the operation of this
Section shall be cumulated, and the interest and the charges payable to such
Lender in respect of other Loans or LC Disbursements or periods shall be
increased (but not above the maximum rate therefor) until such cumulated amount,
together with interest thereon at the Federal Funds Effective Rate to the date
of repayment, shall have been received by such Lender.

      Treatment of Certain Information

            Each Credit Party agrees to use reasonable precautions to keep
confidential, in accordance with their customary procedures for handling
confidential information of the same nature, all non-public information supplied
by the Borrower or any Subsidiary pursuant to this Credit Agreement which (a) is
clearly identified by such Person as being confidential at the time the same is
delivered to such Credit Party, or (b) constitutes any financial statement,
financial projections or forecasts, budget, compliance certificate, audit
report, management letter or accountants' certification delivered hereunder,
provided, however, that nothing herein shall limit the disclosure of any such
information (i) to such of their respective Related Parties as need to know such
information, (ii) to the extent required by applicable laws or regulations or by
any subpoena or similar legal process, or requested by any bank regulatory
authority, (iii) on a confidential basis, to prospective lenders (i.e. assignees
and/or Participants) or their counsel, (iv) to auditors or accountants, and any
analogous counterpart thereof, (v) to any other Credit Party, (vi) in connection
with any litigation to which any one or more of the Credit Parties is a party,
(vii) to the extent such information (A) becomes publicly available other than
as a result of a breach of this Credit Agreement, (B) becomes available to any
of the Credit Parties on a non-confidential basis from a source other than the
Borrower or any Subsidiary, or (C) was available to the Credit Parties on a
non-confidential basis prior to its disclosure to any of them by the Borrower or
any Subsidiary; and (viii) to the extent the Borrower shall have consented to
such disclosure in writing.

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

<PAGE>

THE BISYS GROUP, INC.

By: /s/ James L. Fox
    -----------------------------------
Name: James L. Fox
Title: Executive Vice President and Chief Officer

THE BANK OF NEW YORK, individually, as Issuing Bank,
as Swingline Lender and as Administrative Agent

By: /s/ Steven L. Wexeler
    -----------------------------------
Name: Steven L. Wexeler
Title:Vice President

FLEET NATIONAL BANK, individually and as
Documentation Agent

By: /s/ Michael J. Lessing
    -----------------------------------
Name: Michael J. Lessig
Title: Assistant Vice President

JPMORGAN CHASE BANK, individually and
as Documentation Agent

By: /s/ Dolores A. Walsh
    -----------------------------------
Name: Dolores A. Walsh
Title: Vice President

SUNTRUST BANK, individually and
as Documentation Agent

By: /s/ David W. Penter
    -----------------------------------
Name: David W. Penter
Title: Director

WACHOVIA BANK, NATIONAL ASSOCIATION,
individually and as Documentation Agent

By: /s/ Daniel Evans
    -----------------------------------
Name: Daniel Evans
Title: Managing Director

KEYBANK NATIONAL ASSOCIATION

By: /s/ Jeff Kalinowski
    -----------------------------------
Name: Jeff Kalinowski
Title: Vice President

PNC BANK, NATIONAL ASSOCIATION

By: /s/ Michael Richards
    -----------------------------------
Name: Michael Richards
Title: Vice President

THE BANK OF NOVA SCOTIA

By: /s/ John W. Campbell
    -----------------------------------
Name: John W. Campbell
Title: Industry Head

SCOTIABANC INC.

By: /s/ William E. Zarrett
    -----------------------------------
Name: William E. Zarrett
Title: Managing Director

US BANK, N.A.

By: /s/ Patrick H. McGraw
    -----------------------------------
Name: Patrick H. McGraw
Title: Assistant Vice President

ALLIED IRISH BANKS, PLC

By: /s/ Anthony O'Reilly
    -----------------------------------
Name: Anthony O'Reilly
Title: Vice President

By: /s/ Aidan Lanigan
    -----------------------------------
Name: Aidan Lanigan
Title: Assistant Vice President

FIFTH THIRD BANK (CENTRAL OHIO)

By: /s/ Christopher D. Jones
    -----------------------------------
Name: Christopher D. Jones
Title: Vice President

UFJ BANK LIMITED

By: /s/ Stephen C. Small
    -----------------------------------
Name: Stephen C. Small
Title: Senior Vice President & Area Manager

SUMITOMO MITSUI BANKING CORPORATION

By: /s/ Robert H. Riley III
    -----------------------------------
Name: Robert H. Riley III
Title: Senior Vice President

WELLS FARGO BANK, NATIONAL ASSOCIATION

By: /s/ Jason Paulnock
    -----------------------------------
Name: Jason Paulnock
Title: Vice President

By: /s/ Beth McGinnis
    -----------------------------------
Name: Beth McGinnis
Title: Senior Vice President

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