Document:

exv10w17

Exhibit 10.17

[ * ] = Certain confidential information contained in this document, marked
by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

QuinStreet

[ * ]

[ * ]

DeVry, Inc.

One Tower Lane

Oakbrook Terrace, IL 60181

Dear [ * ]:

     This letter (“Letter”) sets out the terms of the agreement between DeVry, Inc. (“You”) and
QuinStreet, Inc. (“QuinStreet”) pursuant to which QuinStreet has agreed to procure on Your behalf
and as Your agent, e-mail sends (“Sends”) of approved advertising creative marketing Your
products and/or services.

     The terms of agreement set forth herein are in addition to the terms of any other
agreement(s) between You and QuinStreet in force as of the date hereof except that in the event
of any conflict between any provision in any such agreement and the terms of this Letter, this
Letter shall control.

     You have agreed that You shall:

	 	1.	 	Maintain a list (the “Suppression List”) of all e-mail
addresses from whose owners or users You receive unsubscribe requests via the
Link, telephone, regular mail or courier service including unsubscribe request
received in response to any other email correspondence that doesn’t utilize
QuinStreet’s proprietary EmChoice system (such requests, the “Unsubscribes”);
	 
	 	2.	 	Provide to QuinStreet no later than 6:00 PM Pacific Time on
Wednesday of each week during which You are in contractual privity with
QuinStreet (or, if Wednesday is a holiday in any such week, Thursday) either:
(i) an updated Suppression List containing all e-mail addresses contained in
all Unsubscribes received by You up to the end of the day before the day on
which the such Suppression List is delivered to QuinStreet; or (ii) a
statement from You indicating that the content of Your Suppression List has
not changed since the last time You provided it to QuinStreet because You have
received no Unsubscribes during such time (a “No Change Notice”);
	 
	 	3.	 	Indemnify, defend and hold harmless QuinStreet from and
against any and all claims, costs, fees or items of expense arising by
virtue of any claim that You failed to honor any Unsubscribes:
	 
	 	4.	 	Waive any rights or causes of action arising by virtue of
QuinStreet providing your Suppression List to any vendor of Sends so long as
the contract pursuant to which such Suppression List is provided to such
vendor contains representations by such vendor that it will comply with the
provisions of the CAN-SPAM Act of 2003 (the “Act”);
	 
	 	5.	 	Comply with all Unsubscribes in the manner mandated by the Act; and

 

 

	 	6.	 	Provide Your actual, physical street address to QuinStreet
for display in any advertising or marketing copy included in any Sends and
update QuinStreet of any change to such physical street address within 24
hours of any change to it.

You further represent and warrant to QuinStreet that the contents of any Suppression List or No
Change Notice shall be accurate in all respects as of the date on which such List or Notice is sent
to QuinStreet.

     QuinStreet represents and warrants to You that it shall not contract for the provision of
Sends on Your behalf by any vendor that has not agreed in writing to comply with the provisions of
the Act. QuinStreet further agrees to cooperate in a commercially reasonable manner, including
assigning any rights of action against any vendor of Sends to You, but specifically excluding
institution of litigation against any such vendor of Sends, in the event that any such vendor of
Sends uses any Suppression List or any email address set forth therein in any manner prohibited by
the Act or the agreement between QuinStreet and such vendor. You acknowledge that Your agreement to
the terms and conditions set forth in this Letter constitutes a vital inducement to QuinStreet to
secure Sends on Your behalf and that you will realize a material benefit as a result of any such
Sends.

     The laws of the State of California and the Act shall govern this Letter.

     If the foregoing terms and conditions accurately reflect our agreement on the matters set
forth in this letter of agreement, kindly return one fully executed counterpart of this Letter to
the undersigned and retain one copy of it for Your records. A faxed signed counterpart of this
letter of agreement shall be deemed sufficient evidence of its execution by either or both
parties.

	 	 	 	 	 
	 	Sincerely,

QuinStreet, Inc.

 	 
	 	By:  	/s/ Scott P. Mackley
 	 
	 	Its:  	VP, CSD 	 
	 

Accepted and agreed in all respects as of the date first above written:

	 	 	 	 	 
	DeVry
	 
	 	 	 	 
	By:

	 	[ * ]
	 	 
	 

	 	 	 	 
	Its:

	 	[ * ]	 	 
	 

	 	 	 	 

[ * ] = Certain confidential information contained in
this document, marked by brackets, has been omitted and filed separately with
the Securities and Exchange Commission pursuant to Rule 406 of the Securities
Act of 1933, as amended.exv10w18

Exhibit 10.18

[ * ] = Certain confidential information contained in this document, marked
by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

October 05, 2007

[ * ]

One Tower Lane

Oakbrook Terrace, IL 6018

Dear [ * ]:

This letter will confirm that we have agreed to extend the term of that certain QuinStreet Client
Agreement dated as of July 3, 2001 between QuinStreet, Inc. and DeVry University (the “Agreement”)
for one (1) year following the date of execution of this letter. Following this extension term the
Agreement will renew for successive yearly terms until terminated with not less than 30 days prior
written notice by either party. The pricing payable to QuinStreet for leads delivered pursuant to
this agreement will remain at current levels during the extension term.

Other than the term, which is extended by this letter, the remaining provisions of the Agreement
shall remain in full force and effect until the New Termination Date. The parties have also agreed
that the terms of Addendum A to this letter, attached hereto and made part hereof by this reference
shall apply during the renewal term of the Agreement and any subsequent extension term thereof.

We have enclosed two executed copies of this letter. If the foregoing provisions accurately
reflect our agreement with respect to the subject matter of this letter, please sign one copy of
this letter in the space below and return it to the undersigned while retaining one fully-executed
version of this letter for your records. Thank you for the continuing opportunity to be of service
to DeVry University.

	 	 	 	 	 
	Very truly yours,
	 
	 	 	 	 
	QuinStreet, Inc.
	 
	 	 	 	 
	By:

	 	/s/ Tom Cheli
	 	 
	 

	 	 	 	 
	Its:

	 	TC EVP	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	ACCEPTED AND AGREED AS OF      11-6     , 2007:
	 
	 	 	 	 
	DeVry University
	 
	 	 	 	 
	By:

	 	[ * ]	 	 
	 

	 	 	 	 
	Its:

	 	[ * ]	 	 
	 

	 	 	 	 

 

 

Addendum A

New Scope of Services

In addition to the services covered in the agreement between the parties, effective June 1, 2006,
QuinStreet agrees to provide the following services to DeVry University:

	 	1.	 	DeVry University appoints QuinStreet, Inc. and its subsidiaries (collectively,
“QuinStreet”) as the designated manager for certain on-line advertising placements,
including without limitation, securing media placements, search engine driven or
pay-per-click advertising and banner advertising.
	 
	 	2.	 	Quinstreet will [ * ] at DeVry University’s request on behalf of DeVry University.
Quinstreet [ * ] agrees to [ * ] at the [ * ] by DeVry University. [ * ] QuinStreet may,
at its own discretion, [ * ] that is [ * ]. QuinStreet will also have [ * ]. QuinStreet
will be [ * ] and will [ * ] DeVry University has [ * ]. QuinStreet will, if required to do
so by the existing agreement between Devry University [ * ], or if QuinStreet determines it
to be in the best interests of Devry University to do so, [ * ]. QuinStreet may enter into
agreements on its own behalf with [ * ] related to [ * ] Devry University.
	 
	 	3.	 	QuinStreet will manage the process of receiving creative for DeVry University to
approve. All creative (banner, website, copy, etc.) will be approved by DeVry University.
	 
	 	4.	 	QuinStreet will monitor and request updates to all websites owned or operated by the
additional vendors DeVry University has asked it to manage on its behalf. QuinStreet may,
at its own discretion, terminate any vendor who is in non-compliance with any Devry
University guideline, including those issues pursuant to items 2 and 3 above.
	 
	 	5.	 	QuinStreet will send regular reports to DeVry University including, but not limited to:

	 	A.	 	Month-to-date lead volumes delivered
	 
	 	B.	 	Detailed reports, [ * ], of lead volume and [ * ]

	 	 	 	 	 
	QuinStreet, Inc.
	 
	 	 	 	 
	Name:

	 	/s/ Tom Cheli
	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Title:

	 	EVP	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Date:

	 	11/6/07	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Accepted by
	 
	 	 	 	 
	Advertiser:

	 	DeVry	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Name:

	 	[ * ]	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Title:

	 	[ * ]	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Date:

	 	11-9-07	 	 
	 

	 	 	 	 

[ * ] = Certain confidential information contained in
this document, marked by brackets, has been omitted and filed separately with
the Securities and Exchange Commission pursuant to Rule 406 of the Securities
Act of 1933, as amended.creditagreement.htm

     

     

    
      

      

    

    Exhibit 10.1

    

    EXECUTION
COPY

     

    
      Published
CUSIP Number: 19933MAC7

       

      

    

     

    FOURTH
AMENDED AND RESTATED

     

     

    CREDIT
AGREEMENT

     

    Dated as
of December 31, 2009

     

    among

     

    COLUMBUS
MCKINNON CORPORATION

     

    and

     

    CERTAIN
SUBSIDIARIES,

     

    as
Borrowers,

     

    BANK
OF AMERICA, N.A.,

     

    as
Administrative Agent, Swing Line Lender

     

    and

     

    L/C
Issuer,

     

    and

     

    The Other
Lenders Party Hereto,

     

    RBS CITIZENS, NATIONAL
ASSOCIATION,

    as
Documentation Agent

     

    BANC OF AMERICA SECURITIES LLC
and J.P. MORGAN
SECURITIES, INC.

     

    as

     

    Joint
Lead Arrangers and Joint Book Managers

     

    

    
      
        
          
            DB1/64034345.11

             

          

           

        

        
           

          
            

          

        

        
           

 

      

    

    

    
      	
              
ARTICLE I.

            	
              DEFINITIONS
      AND ACCOUNTING TERMS 

            	 	 	2	 

    

     

    
      	
               
      

            	
              1.01.

            	
              Defined
      Terms 

            	
              2

            

    

     

    
      	
               
      

            	
              1.02.

            	
              Other
      Interpretive Provisions 

            	
              31

            

    

     

    
      	
               
      

            	
              1.03.

            	
              Accounting
      Terms 

            	
              31

            

    

     

    
      	
               
      

            	
              1.04.

            	
              Rounding 

            	
              32

            

    

     

    
      	
               
      

            	
              1.05.

            	
              Exchange
      Rates; Currency Equivalents 

            	
              32

            

    

     

    
      	
               
      

            	
              1.06.

            	
              Additional
      Alternative Currencies 

            	
              32

            

    

     

    
      	
               
      

            	
              1.07.

            	
              Change
      of Currency 

            	
              33

            

    

     

    
      	
               
      

            	
              1.08.

            	
              Times
      of Day 

            	
              34

            

    

     

    
      	
               
      

            	
              1.09.

            	
              Letter
      of Credit Amounts 

            	
              34

            

    

     

    
      	
              ARTICLE
      II.

            	
              THE
      COMMITMENTS AND CREDIT EXTENSIONS 

            	
              34

            

    

     

    
      	
               
      

            	
              2.01.

            	
              Committed
      Loans 

            	
              34

            

    

     

    
      	
               
      

            	
              2.02.

            	
              Borrowings,
      Conversions and Continuations of Committed Loans 

            	
              35

            

    

     

    
      	
               
      

            	
              2.03.

            	
              Letters
      of Credit 

            	
              37

            

    

     

    
      	
               
      

            	
              2.04.

            	
              Swing
      Line Loans 

            	
              46

            

    

     

    
      	
               
      

            	
              2.05.

            	
              Prepayments 

            	
              49

            

    

     

    
      	
               
      

            	
              2.06.

            	
              Termination
      or Reduction of Commitments; Certain Mandatory
      Prepayments 

            	
              50

            

    

     

    
      	
               
      

            	
              2.07.

            	
              Repayment
      of Loans 

            	
              51

            

    

     

    
      	
               
      

            	
              2.08.

            	
              Interest 

            	
              52

            

    

     

    
      	
               
      

            	
              2.09.

            	
              Fees 

            	
              52

            

    

     

    
      	
               
      

            	
              2.10.

            	
              Computation
      of Interest and Fees; Retroactive Adjustments of Applicable
      Rate 

            	
              53

            

    

     

    
      	
               
      

            	
              2.11.

            	
              Evidence
      of Debt 

            	
              54

            

    

     

    
      	
               
      

            	
              2.12.

            	
              Payments
      Generally; Administrative Agent’s Clawback 

            	
              54

            

    

     

    
      	
               
      

            	
              2.13.

            	
              Sharing
      of Payments by Lenders 

            	
              56

            

    

     

    
      	
               
      

            	
              2.14.

            	
              Increase
      in Commitments 

            	
              57

            

    

     

    
      	
               
      

            	
              2.15.

            	
              Collateral
      Security 

            	
              58

            

    

     

    
      	
               
      

            	
              2.16.

            	
              Designated
      Borrowers 

            	
              59

            

    

     

    
      	
              ARTICLE
      III.

            	
              TAXES,
      YIELD PROTECTION AND ILLEGALITY 

            	
              60

            

    

     

    
      	
               
      

            	
              3.01.

            	
              Taxes 

            	
              60

            

    

     

    
      	
               
      

            	
              3.02.

            	
              Illegality 

            	
              64

            

    

     

    

    
      
        
          
            
              	
                      DB1/64034345.11

                    	
                       

                    	 
      

            

            

             

          

           

        

        
           

          
            

          

        

        
           

          
            TABLE OF
CONTENTS

            (continued)

             

             

            

          

        
 

    

    

    
      	
               
      

            	
              3.03.

            	
              Inability
      to Determine Rates 

            	
              64

            

    

     

    
      	
               
      

            	
              3.04.

            	
              Increased
      Costs; Reserves on Eurocurrency Rate Loans 

            	
              65

            

    

     

    
      	
               
      

            	
              3.05.

            	
              Compensation
      for Losses 

            	
              67

            

    

     

    
      	
               
      

            	
              3.06.

            	
              Mitigation
      Obligations; Replacement of Lenders 

            	
              67

            

    

     

    
      	
               
      

            	
              3.07.

            	
              Survival 

            	
              68

            

    

     

    
      	
              ARTICLE
      IV.

            	
              CONDITIONS
      PRECEDENT TO CREDIT EXTENSIONS 

            	
              68

            

    

     

    
      	
               
      

            	
              4.01.

            	
              Conditions
      of Initial Credit Extension 

            	
              68

            

    

     

    
      	
               
      

            	
              4.02.

            	
              Conditions
      to all Credit Extensions 

            	
              71

            

    

     

    
      	
              ARTICLE
      V.

            	
              REPRESENTATIONS
      AND WARRANTIES 

            	
              71

            

    

     

    
      	
               
      

            	
              5.01.

            	
              Existence,
      Qualification and Power 

            	
              71

            

    

     

    
      	
               
      

            	
              5.02.

            	
              Authorization;
      No Contravention 

            	
              72

            

    

     

    
      	
               
      

            	
              5.03.

            	
              Governmental
      Authorization; Other Consents 

            	
              72

            

    

     

    
      	
               
      

            	
              5.04.

            	
              Binding
      Effect 

            	
              72

            

    

     

    
      	
               
      

            	
              5.05.

            	
              Financial
      Statements; No Material Adverse Effect; No Internal Control
      Event 

            	
              72

            

    

     

    
      	
               
      

            	
              5.06.

            	
              Litigation 

            	
              73

            

    

     

    
      	
               
      

            	
              5.07.

            	
              No
      Default 

            	
              73

            

    

     

    
      	
               
      

            	
              5.08.

            	
              Ownership
      of Property; Liens 

            	
              73

            

    

     

    
      	
               
      

            	
              5.09.

            	
              Environmental
      Compliance 

            	
              74

            

    

     

    
      	
               
      

            	
              5.10.

            	
              Insurance 

            	
              74

            

    

     

    
      	
               
      

            	
              5.11.

            	
              Taxes 

            	
              74

            

    

     

    
      	
               
      

            	
              5.12.

            	
              ERISA
      Compliance 

            	
              74

            

    

     

    
      	
               
      

            	
              5.13.

            	
              Subsidiaries;
      Equity Interests 

            	
              75

            

    

     

    
      	
               
      

            	
              5.14.

            	
              Margin
      Regulations; Investment Company Act 

            	
              75

            

    

     

    
      	
               
      

            	
              5.15.

            	
              Disclosure 

            	
              75

            

    

     

    
      	
               
      

            	
              5.16.

            	
              Compliance
      with Laws 

            	
              75

            

    

     

    
      	
               
      

            	
              5.17.

            	
              Taxpayer
      Identification Number; Other Identifying Information 

            	
              76

            

    

     

    
      	
               
      

            	
              5.18.

            	
              Intellectual
      Property; Licenses, Etc 

            	
              76

            

    

     

    
      	
               
      

            	
              5.19.

            	
              Perfection
      of Security Interest 

            	
              76

            

    

     

    
      	
               
      

            	
              5.20.

            	
              Properties 

            	
              76

            

    

     

    
      	
               
      

            	
              5.21.

            	
              Solvency 

            	
              76

            

    

     

    

    
      
        
          
            
              	
                      DB1/64034345.11

                    	
                       

                    	 
      

            

            

             

          

           

        

        
           

          
            

          

        

        
           

          
            TABLE OF
CONTENTS

            (continued)

             

             

            

          

        
 

    

    

    
      	
               
      

            	
              5.22.

            	
              Bank
      Accounts 

            	
              76

            

    

     

    
      	
               
      

            	
              5.23.

            	
              Obligations
      as Senior Debt 

            	
              77

            

    

     

    
      	
               
      

            	
              5.24.

            	
              Use
      of Proceeds 

            	
              77

            

    

     

    
      	
               
      

            	
              5.25.

            	
              Representations
      as to Foreign Loan Parties 

            	
              77

            

    

     

    
      	
              ARTICLE
      VI.

            	
              AFFIRMATIVE
      COVENANTS 

            	
              78

            

    

     

    
      	
               
      

            	
              6.01.

            	
              Financial
      Statements 

            	
              78

            

    

     

    
      	
               
      

            	
              6.02.

            	
              Certificates;
      Other Information 

            	
              79

            

    

     

    
      	
               
      

            	
              6.03.

            	
              Notices 

            	
              81

            

    

     

    
      	
               
      

            	
              6.04.

            	
              Payment
      of Obligations 

            	
              81

            

    

     

    
      	
               
      

            	
              6.05.

            	
              Preservation
      of Existence, Etc 

            	
              81

            

    

     

    
      	
               
      

            	
              6.06.

            	
              Maintenance
      of Properties 

            	
              82

            

    

     

    
      	
               
      

            	
              6.07.

            	
              Maintenance
      of Insurance 

            	
              82

            

    

     

    
      	
               
      

            	
              6.08.

            	
              Compliance
      with Laws, Organizational Documents and Contractual
      Obligations 

            	
              82

            

    

     

    
      	
               
      

            	
              6.09.

            	
              Books
      and Records 

            	
              82

            

    

     

    
      	
               
      

            	
              6.10.

            	
              Inspection
      Rights 

            	
              82

            

    

     

    
      	
               
      

            	
              6.11.

            	
              Use
      of Proceeds 

            	
              83

            

    

     

    
      	
               
      

            	
              6.12.

            	
              Additional
      Guarantors and Pledgors 

            	
              83

            

    

     

    
      	
               
      

            	
              6.13.

            	
              Mortgages 

            	
              84

            

    

     

    
      	
               
      

            	
              6.14.

            	
              Approvals
      and Authorizations 

            	
              85

            

    

     

    
      	
              ARTICLE
      VII.

            	
              NEGATIVE
      COVENANTS 

            	
              85

            

    

     

    
      	
               
      

            	
              7.01.

            	
              Liens 

            	
              85

            

    

     

    
      	
               
      

            	
              7.02.

            	
              Investments 

            	
              86

            

    

     

    
      	
               
      

            	
              7.03.

            	
              Indebtedness 

            	
              87

            

    

     

    
      	
               
      

            	
              7.04.

            	
              Fundamental
      Changes 

            	
              88

            

    

     

    
      	
               
      

            	
              7.05.

            	
              Dispositions 

            	
              89

            

    

     

    
      	
               
      

            	
              7.06.

            	
              Restricted
      Payments 

            	
              90

            

    

     

    
      	
               
      

            	
              7.07.

            	
              Change
      in Nature of Business 

            	
              91

            

    

     

    
      	
               
      

            	
              7.08.

            	
              Transactions
      with Affiliates 

            	
              91

            

    

     

    
      	
               
      

            	
              7.09.

            	
              Burdensome
      Agreements 

            	
              91

            

    

     

    
      	
               
      

            	
              7.10.

            	
              Use
      of Proceeds 

            	
              91

            

    

     

    

    
      
        
          
            
              	
                      DB1/64034345.11

                    	
                       

                    	 
      

            

            

             

          

           

        

        
           

          
            

          

        

        
           

          
            TABLE OF
CONTENTS

            (continued)

             

             

            

          

        
Page       

    

    

    
      	
               
      

            	
              7.11.

            	
              Financial
      Covenants 

            	
              91

            

    

     

    
      	
               
      

            	
              7.12.

            	
              Modifications
      of Certain Documents; Designation of Senior Debt 

            	
              91

            

    

     

    
      	
               
      

            	
              7.13.

            	
              Sale-Leaseback
      Transactions 

            	
              91

            

    

     

    
      	
               
      

            	
              7.14.

            	
              Capital
      Expenditures 

            	
              92

            

    

     

    
      	
              ARTICLE
      VIII.

            	
              EVENTS
      OF DEFAULT AND REMEDIES 

            	
              92

            

    

     

    
      	
               
      

            	
              8.01.

            	
              Events
      of Default 

            	
              92

            

    

     

    
      	
               
      

            	
              8.02.

            	
              Remedies
      Upon Event of Default 

            	
              94

            

    

     

    
      	
               
      

            	
              8.03.

            	
              Application
      of Funds 

            	
              95

            

    

     

    
      	
              ARTICLE
      IX.

            	
              ADMINISTRATIVE
      AGENT 

            	
              96

            

    

     

    
      	
               
      

            	
              9.01.

            	
              Appointment
      and Authority 

            	
              96

            

    

     

    
      	
               
      

            	
              9.02.

            	
              Rights
      as a Lender 

            	
              96

            

    

     

    
      	
               
      

            	
              9.03.

            	
              Exculpatory
      Provisions 

            	
              96

            

    

     

    
      	
               
      

            	
              9.04.

            	
              Reliance
      by Administrative Agent 

            	
              97

            

    

     

    
      	
               
      

            	
              9.05.

            	
              Delegation
      of Duties 

            	
              97

            

    

     

    
      	
               
      

            	
              9.06.

            	
              Resignation
      of Administrative Agent 

            	
              97

            

    

     

    
      	
               
      

            	
              9.07.

            	
              Non-Reliance
      on Administrative Agent and Other Lenders 

            	
              98

            

    

     

    
      	
               
      

            	
              9.08.

            	
              No
      Other Duties, Etc 

            	
              99

            

    

     

    
      	
               
      

            	
              9.09.

            	
              Administrative
      Agent May File Proofs of Claim 

            	
              99

            

    

     

    
      	
               
      

            	
              9.10.

            	
              Collateral
      and Guaranty Matters 

            	
              99

            

    

     

    
      	
              ARTICLE
      X.

            	
              MISCELLANEOUS 

            	
              100

            

    

     

    
      	
               
      

            	
              10.01.

            	
              Amendments,
      Etc 

            	
              100

            

    

     

    
      	
               
      

            	
              10.02.

            	
              Notices;
      Effectiveness; Electronic Communication 

            	
              101

            

    

     

    
      	
               
      

            	
              10.03.

            	
              No
      Waiver; Cumulative Remedies; Enforcement 

            	
              103

            

    

     

    
      	
               
      

            	
              10.04.

            	
              Expenses;
      Indemnity; Damage Waiver 

            	
              104

            

    

     

    
      	
               
      

            	
              10.05.

            	
              Payments
      Set Aside 

            	
              106

            

    

     

    
      	
               
      

            	
              10.06.

            	
              Successors
      and Assigns 

            	
              106

            

    

     

    
      	
               
      

            	
              10.07.

            	
              Treatment
      of Certain Information; Confidentiality 

            	
              111

            

    

     

    
      	
               
      

            	
              10.08.

            	
              Right
      of Setoff 

            	
              112

            

    

     

    
      	
               
      

            	
              10.09.

            	
              Interest
      Rate Limitation 

            	
              112

            

    

     

    
      	
               
      

            	
              10.10.

            	
              Counterparts;
      Integration; Effectiveness 

            	
              112

            

    

     

    
      	
               
      

            	
              10.11.

            	
              Survival
      of Representations and Warranties 

            	
              113

            

    

     

    

    
      
        
          
            
              	
                      DB1/64034345.11

                    	
                       

                    	 
      

            

            

             

          

           

        

        
           

          
            

          

        

        
           

          
            TABLE OF
CONTENTS

            (continued)

             

             

            

          

        
Page        

    

    

    
      	
               
      

            	
              10.12.

            	
              Severability 

            	
              113

            

    

     

    
      	
               
      

            	
              10.13.

            	
              Replacement
      of Lenders 

            	
              113

            

    

     

    
      	
               
      

            	
              10.14.

            	
              Governing
      Law; Jurisdiction; Etc 

            	
              114

            

    

     

    
      	
               
      

            	
              10.15.

            	
              Waiver
      of Jury Trial 

            	
              115

            

    

     

    
      	
               
      

            	
              10.16.

            	
              No
      Advisory or Fiduciary Responsibility 

            	
              115

            

    

     

    
      	
               
      

            	
              10.17.

            	
              USA
      PATRIOT Act 

            	
              116

            

    

     

    
      	
               
      

            	
              10.18.

            	
              Time
      of the Essence 

            	
              116

            

    

     

    
      	
               
      

            	
              10.19.

            	
              Electronic
      Execution of Assignments and Certain Other Documents 

            	
              116

            

    

     

    
      	
               
      

            	
              10.20.

            	
              Judgment
      Currency 

            	
              116

            

    

     

    
      	
               
      

            	
              10.21.

            	
              Transitional
      Arrangements 

            	
              117

            

    

     

    

     

    

    
      
        
          
            
              	
                      DB1/64034345.11

                    	
                       

                    	 
      

            

            

             

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

    SCHEDULES

     

    1.01           Mandatory
Cost Formulae

    2.01           Commitments
and Applicable Percentages

    5.05           Material
Indebtedness and Other Liabilities at September 30, 2009

    5.06           Litigation

    5.09           Environmental
Matters

    5.13           Subsidiaries;
Other Equity Investments

    5.17           Identification
Numbers for Designated Borrowers that are Foreign Subsidiaries

    5.18           Intellectual
Property Matters

    5.20           Fee
and Leasehold Real Property Assets

    5.22           Bank
Accounts

    6.13           Material
Leasehold Real Estate Assets

    7.01           Existing
Liens

    7.03           Existing
Indebtedness

    7.05           Permitted
Exclusive Licenses of IP Rights

    7.09           Burdensome
Agreements

    10.02           Administrative
Agent’s Office; Certain Addresses for Notices

    

    

    EXHIBITS

    Form
of

     

    A           Committed
Loan Notice

    B           Swing
Line Loan Notice

    C           Note

    D           Compliance
Certificate

    E           Assignment
and Assumption

    F           Designated
Borrower Request and Assumption Agreement

    G           Designated
Borrower Notice

    

     

    

    
      
        
          
            DB1/64034345.11

             

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

    FOURTH
AMENDED AND RESTATED

     

    CREDIT
AGREEMENT

     

    This
FOURTH AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”) is dated
as of December 31, 2009, among COLUMBUS MCKINNON CORPORATION, a New York
corporation (the “Company”), certain
Subsidiaries of the Company party hereto pursuant to Section 2.16 (each a
“Designated
Borrower” and, together with the “Company”, the “Borrowers” and, each
a “Borrower”),
each lender from time to time party hereto (collectively, the “Lenders” and
individually, a “Lender”), and BANK OF
AMERICA, N.A., as
Administrative Agent, Swing Line Lender and L/C Issuer.

     

    WHEREAS, the Company has
previously entered into that certain Credit Agreement dated as of March 31, 1998
(as amended, the “Original Credit
Agreement”), among the Company, the lenders named therein, and Fleet
National Bank, as Agent;

     

    WHEREAS, the Company, Larco
Industrial Services Ltd, a business corporation organized under the laws of the
Province of Ontario, Columbus McKinnon Limited, a business corporation organized
under the laws of Canada, the Guarantors named therein, the lenders from time to
time party thereto, Fleet Capital Corporation, as Administrative Agent, Fleet
National Bank, as L/C Issuer and Fleet Securities, Inc., as Arranger have
previously entered into that certain Amended and Restated Credit and Security
Agreement, dated as of November 21, 2002 (as amended, the “First Amended and Restated
Credit Agreement”), which First Amended and Restated Credit Agreement
amended and restated the Original Credit Agreement;

     

    WHEREAS, pursuant to a certain
Assignment and Acceptance, dated November 21, 2002, among the Company, the
lenders party to the Original Credit Agreement, the Administrative Agent under
the First Amended and Restated Credit Agreement and the lenders party to the
First Amended and Restated Credit Agreement, (i) the lenders under the Original
Credit Agreement assigned to the lenders under the First Amended and Restated
Credit Agreement the outstanding loans and other obligations under the Original
Credit Agreement and (ii) the Agent under the Original Credit Agreement assigned
to the Administrative Agent under the First Amended and Restated Credit
Agreement all of its liens, security interests, and collateral security under
the Original Credit Agreement;

     

    WHEREAS, the Company, Larco
Industrial Services Ltd, a business corporation organized under the laws of the
Province of Ontario, Columbus McKinnon Limited, a business corporation organized
under the laws of Canada, the Guarantors named therein, the lenders from time to
time party thereto, Fleet Capital Corporation, as Administrative Agent, Fleet
National Bank, as L/C Issuer and Fleet Securities, Inc., as Arranger have
previously entered into that certain Second Amended and Restated Credit and
Security Agreement, dated as of January 2, 2004 (as amended, the “Second Amended and Restated
Credit Agreement”), which Second Amended and Restated Credit Agreement
amended and restated the First Amended and Restated Credit
Agreement;

     

    WHEREAS, the Company, the
Guarantors named therein, the lenders from time to time party thereto, the
Administrative Agent (as assignee of Fleet Capital Corporation), the L/C
Issuer

     

    

    
      
        
           

        

        
          S-1

          
            

          

        

        
           

        

      

    

    

    (as
successor by merger to Fleet National Bank) and Banc of America Securities LLC,
as sole lead arranger and sole book manager have previously entered into that
certain Third Amended and Restated Credit Agreement, dated as of March 16, 2006
(as amended, the “Third Amended and Restated
Credit Agreement”), which Third Amended and Restated Credit Agreement
amended and restated the Second Amended and Restated Credit
Agreement;

     

    WHEREAS, pursuant to a certain
Assignment and Assumption Agreement, dated March 16, 2006, among the Company,
the lenders party to the Second Amended and Restated Credit Agreement, the
Administrative Agent and Bank of America, N.A., as lender, the lenders under the
Second Amended and Restated Credit Agreement assigned to Bank of America, N.A.
the outstanding loans and other obligations under the Second Amended and
Restated Credit Agreement and Bank of America, N.A. made a subsequent assignment
of the commitments under the Third Amended and Restated Credit Agreement to the
lenders party to the Third Amended and Restated Credit Agreement;
and

     

    WHEREAS, it is the intention
and desire of the parties that the loans and other obligations under the Third
Amended and Restated Credit Agreement be amended and restated as set forth
herein such that the obligations of the Loan Parties (as defined therein) and
the rights, liens, security interests, and collateral security of the
Administrative Agent and the Lenders thereunder shall hereafter be evidenced by
this Agreement and the other Loan Documents.

     

    NOW, THEREFORE, the parties
agree that, effective as of the Closing Date (as defined below), the Third
Amended and Restated Credit Agreement shall be amended and restated as set forth
herein.

     

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

     

    ARTICLE
I.

     

    DEFINITIONS
AND ACCOUNTING TERMS

     

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

     

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

     

    “Administrative
Agent’s Office” means, with
respect to any currency, the Administrative Agent’s address and, as appropriate,
account as set forth on Schedule 10.02 with
respect to such currency, or such other address or account with respect to such
currency as the Administrative Agent may from time to time notify to the Company
and the Lenders.

     

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

     

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

     

    

    
      
        
           

        

        
          S-2

          
            

          

        

        
           

        

      

    

    

    “Aggregate
Commitments” means the Commitments of all the Lenders.

     

    “Agreement” means this
Credit Agreement.

     

    “Alternative Currency”
means, (a) with respect to Loans, each of Euro, Hong Kong Dollar, Sterling and
each other currency (other than Dollars) that is approved in accordance with
Section 1.06 and
(b) with respect to Letters of Credit, each of Canadian Dollar, Euro, Hong Kong
Dollar, Mexican Peso, Sterling, Swiss Franc, Yen and each other currency (other
than Dollars) that is approved in accordance with Section 1.06.

     

    “Alternative Currency
Equivalent” means, at any time, with respect to any amount denominated in
Dollars, the equivalent amount thereof in the applicable Alternative Currency as
determined by the Administrative Agent or the L/C Issuer, as the case may be, at
such time on the basis of the Spot Rate (determined in respect of the most
recent Revaluation Date) for the purchase of such Alternative Currency with
Dollars.

     

    “Alternative Currency
Sublimit” means an amount equal to the lesser of the Aggregate
Commitments and $40,000,000.  The Alternative Currency Sublimit is
part of, and not in addition to, the Aggregate Commitments.

     

    “Amendment and
Reaffirmation” means that certain Amendment and Reaffirmation of
Ancillary Loan Documents, dated as of December 31, 2009 by and among the Loan
Parties and the Administrative Agent.

     

    “Applicable Foreign Loan
Party Documents” has the meaning specified in Section 5.25(a).

     

    “Applicable
Percentage” means with respect to any Lender at any time, the percentage
(carried out to the ninth decimal place) of the Aggregate Commitments
represented by such Lender’s Commitment at such time.  If the
commitment of each Lender to make Loans and the obligation of the L/C Issuer to
make L/C Credit Extensions have been terminated pursuant to Section 8.02 or if
the Aggregate Commitments have expired, then the Applicable Percentage of each
Lender shall be determined based on the Applicable Percentage of such Lender
most recently in effect, giving effect to any subsequent
assignments.  The initial Applicable Percentage of each Lender is set
forth opposite the name of such Lender on Schedule 2.01 or in
the Assignment and Assumption pursuant to which such Lender becomes a party
hereto, as applicable.

     

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

     

    
      
        
        

      

      
        S-3

        
          

        

      

      
        
        

      

    

    
      	
              Level

            	
              Total
      Leverage Ratio

            	
              Commitment
      Fee

            	
              Eurocurrency
      Rate

            	
              Letter
      of Credit Fee

            	
              Base
      Rate

            
	
              I

            	
              Greater
      than or equal to 3.00x

            	
              0.500%

            	
              3.250%

            	
              3.250%

            	
              2.250%

            
	
              II

            	
              Less
      than 3.00x but greater than or equal to 2.50x

            	
              0.500%

            	
              3.000%

            	
              3.000%

            	
              2.000%

            
	
              III

            	
              Less
      than 2.50x but greater than or equal to 2.00x

            	
              0.375%

            	
              2.750%

            	
              2.750%

            	
              1.750%

            
	
              IV

            	
              Less
      than 2.00x but greater than or equal to 1.75x

            	
              0.250%

            	
              2.500%

            	
              2.500%

            	
              1.500%

            
	
              V

            	
              Less
      than 1.75x but greater than or equal to 1.50x

            	
              0.175%

            	
              2.250%

            	
              2.250%

            	
              1.250%

            
	
              VI

            	
              Less
      than 1.50x

            	
              0.175%

            	
              2.000%

            	
              2.000%

            	
              1.000%

            

    

     

    Any
increase or decrease in the Applicable Rate resulting from a change in the Total
Leverage Ratio shall become effective as of the first Business Day immediately
following the date a Compliance Certificate is delivered pursuant to Section 6.02(a);
provided,
however, that if a Compliance Certificate is not delivered when due in
accordance with such Section, then Pricing Level I shall apply as of the first
Business Day after the date on which such Compliance Certificate was required to
have been delivered.  The Applicable Rate in effect from the Closing
Date through the first Business Day immediately following the date on which a
Compliance Certificate for the fiscal quarter ended December 31, 2009 is due
shall be determined based upon Pricing Level IV.

     

    “Applicable Time”
means, with respect to any borrowings and payments in any Alternative Currency,
the local time in the place of settlement for such Alternative Currency as may
be determined by the Administrative Agent or the L/C Issuer, as the case may be,
to be necessary for timely settlement on the relevant date in accordance with
normal banking procedures in the place of payment.

     

    “Applicant Borrower”
has the meaning specified in Section 2.16(b).

     

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

     

    “Approved Restructuring
Charges” means cash or non-cash restructuring charges incurred by the
Company and/or its Subsidiaries in an aggregate amount not to exceed $3,750,000
during the period from and after March 16, 2006; provided
however, amounts in excess of $2,000,000 in restructuring charges for any one
facility, plant or other Property shall not constitute Approved Restructuring
Charges unless approved, in writing, by the

     

    

    
      
        
           

        

        
          S-4

          
            

          

        

        
           

        

      

    

    

    Administrative
Agent; andprovidedfurther,
however, that (a) for the fiscal years ending March 31, 2010 and March 31, 2011,
so long as at least fifty percent of the actual restructuring charges incurred
by the Company and its Subsidiaries during such two fiscal years are incurred
during the fiscal year ending March 31, 2010, “Approved Restructuring Charges”
means additional cash or non-cash restructuring charges incurred by the Company
and/or its Subsidiaries during such fiscal year in an aggregate amount (for both
such fiscal years) not to exceed $15,000,000 and (b) at all times from and after
April 1, 2011, “Approved Restructuring Charges” means additional cash or
non-cash restructuring charges incurred by the Company and/or its Subsidiaries
during such period not to exceed $5,000,000 in the aggregate provided that cash
restructuring charges during such period does not exceed $3,750,000 in the
aggregate.

     

    “Arrangers” means Banc
of America Securities LLC and J.P. Morgan Securities, Inc., in their capacities
as joint lead arrangers and joint book managers.

     

    “Assignee Group” means
two or more Eligible Assignees that are Affiliates of one another.

     

    “Assignments of
Mortgage” means the several Assignments of Mortgage, made in favor of the
Administrative Agent, with respect to certain of the real property assets of the
Loan Parties.

     

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

     

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

     

    “Audited Financial
Statements” means the audited consolidated balance sheet of the Company
and its Subsidiaries for the fiscal year ended March 31, 2009, and the related
consolidated statements of income or operations, shareholders’ equity and cash
flows for such fiscal year of the Company and its Subsidiaries, including the
notes thereto.

     

    “Audubon Europe” means
Audubon Europe S.A.R.L.

     

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

     

    “Bank of America”
means Bank of America, N.A. and its successors.

     

    

    
      
        
           

        

        
          S-5

          
            

          

        

        
           

        

      

    

    

    “Bank Product
Obligations” means every obligation of the Company and its Subsidiaries
under and in respect of any (a) Swap Contract with the Administrative Agent, any
Lender or any Affiliate thereof to which the Company or such Subsidiary is a
party or which the Company or such Subsidiary has guaranteed and (b) one or more
of the following types of services or facilities extended to the Company or such
Subsidiary (or which the Company or such Subsidiary has guaranteed) by the
Administrative Agent, any Lender or any Affiliate thereof: (i) credit and
purchase cards, (ii) lease financing or related services, (iii) Cash Management
Services, and (iv) electronic business-to-business payment arrangements (and any
corresponding float financing on accounts payable related thereto).

     

    “Base Rate” means
for any day a fluctuating rate per annum equal to the highest of (a) the Federal
Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as
publicly announced from time to time by Bank of America as its “prime rate” and
(c) the Eurocurrency Rate for a one-month Interest Period in effect for such
date (or if such date is not a Business Day, the immediately preceding Business
Day) plus
1.00%.  The “prime rate” is a rate set by Bank of America based upon
various factors including Bank of America’s costs and desired return, general
economic conditions and other factors, and is used as a reference point for
pricing some loans, which may be priced at, above, or below such announced
rate.  Any change in the Base Rate due to a change in any of the
foregoing shall take effect at the opening of business on the day specified in
the public announcement of such change.

     

    “Base Rate Committed
Loan” means a Committed Loan that is a Base Rate Loan.

     

    “Base Rate Loan” means
a Loan that bears interest based on the Base Rate.  All Base Rate
Loans shall be denominated in Dollars.

     

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

     

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

     

    “Borrowing” means a
Committed Borrowing or a Swing Line Borrowing, as the context may
require.

     

    “Business Day” means
any day other than a Saturday, Sunday or other day on which commercial banks are
authorized to close under the Laws of, or are in fact closed in, the state where
the Administrative Agent’s Office with respect to Obligations denominated in
Dollars is located and:

     

    (a)           if
such day relates to any interest rate settings as to a Eurocurrency Rate Loan
denominated in Dollars, any fundings, disbursements, settlements and payments in
Dollars in respect of any such Eurocurrency Rate Loan, or any other dealings in
Dollars to be carried out pursuant to this Agreement in respect of any such
Eurocurrency Rate Loan, means any such day on which dealings in deposits in
Dollars are conducted by and between banks in the London interbank eurodollar
market;

     

    (b)           if
such day relates to any interest rate settings as to a Eurocurrency Rate Loan
denominated in Euro, any fundings, disbursements, settlements and payments
in

     

    

    
      
        
           

        

        
          S-6

          
            

          

        

        
           

        

      

    

     

                    
Euro in respect of any such Eurocurrency Rate Loan, or any other dealings in
Euro to be carried out pursuant to this Agreement in respect of any such
Eurocurrency Rate Loan, means a TARGET Day;

     

    (c)           if
such day relates to any interest rate settings as to a Eurocurrency Rate Loan
denominated in a currency other than Dollars or Euro, means any such day on
which dealings in deposits in the relevant currency are conducted by and between
banks in the London or other applicable offshore interbank market for such
currency; and

     

    (d)           if
such day relates to any fundings, disbursements, settlements and payments in a
currency other than Dollars or Euro in respect of a Eurocurrency Rate Loan
denominated in a currency other than Dollars or Euro, or any other dealings in
any currency other than Dollars or Euro to be carried out pursuant to this
Agreement in respect of any such Eurocurrency Rate Loan (other than any interest
rate settings), means any such day on which banks are open for foreign exchange
business in the principal financial center of the country of such
currency.

     

    “Canadian Dollar”
means the lawful currency of Canada.

     

    “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.

     

    “Cash Collateralize”
has the meaning specified in Section
2.03(g).

     

    “Cash Management
Services” means any services provided from time to time by the
Administrative Agent, any Lender or any Affiliate thereof to the Company or any
Subsidiary (or guaranteed by the Company or any Subsidiary) in connection with
operating, collections, payroll, trust, or other depository or disbursement
accounts, including automatic clearinghouse, controlled disbursement,
depository, electronic funds transfer, information reporting, lockbox, stop
payment, overdraft and/or wire transfer services.

     

    “Casualty Event”
means, with respect to any property of any Person, any loss of or damage to, or
any condemnation or other taking of, such property for which such Person or any
of its Subsidiaries receives insurance proceeds, or proceeds of a condemnation
award or other compensation.

     

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

     

    “Change of Control”
means an event or series of events by which:

     

    

    
      
        
           

        

        
          S-7

          
            

          

        

        
           

        

      

    

    

    (a)           any
“person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, but excluding any employee benefit plan of such
person or its subsidiaries, and any person or entity acting in its capacity as
trustee, agent or other fiduciary or administrator of any such plan) becomes the
“beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities
Exchange Act of 1934, except that a person or group shall be deemed to have
“beneficial ownership” of all securities that such person or group has the right
to acquire, whether such right is exercisable immediately or only after the
passage of time (such right, an “option right”)),
directly or indirectly, of 25% or more of the equity securities of the Company
entitled to vote for members of the board of directors or equivalent governing
body of the Company on a fully-diluted basis (and taking into account all such
securities that such person or group has the right to acquire pursuant to any
option right);

     

    (b)           during
any period of 24 consecutive months, a majority of the members of the board of
directors or other equivalent governing body of the Company cease to be composed
of individuals (i) who were members of that board or equivalent governing body
on the first day of such period, (ii) whose election or nomination to that board
or equivalent governing body was approved by individuals referred to in clause
(i) above constituting at the time of such election or nomination at least a
majority of that board or equivalent governing body or (iii) whose election or
nomination to that board or other equivalent governing body was approved by
individuals referred to in clauses (i) and (ii) above constituting at the time
of such election or nomination at least a majority of that board or equivalent
governing body (excluding, in the case of both clause (ii) and clause (iii), any
individual whose initial nomination for, or assumption of office as, a member of
that board or equivalent governing body occurs as a result of an actual or
threatened solicitation of proxies or consents for the election or removal of
one or more directors by any person or group other than a solicitation for the
election of one or more directors by or on behalf of the board of
directors);

     

    (c)           any
Person or two or more Persons acting in concert shall have acquired by contract
or otherwise, or shall have entered into a contract or arrangement that, upon
consummation thereof, will result in its or their acquisition of the power to
exercise, directly or indirectly, a controlling influence over the management or
policies of the Company, or control over the equity securities of the Company
entitled to vote for members of the board of directors or equivalent governing
body of the Company on a fully-diluted basis (and taking into account all such
securities that such Person or group has the right to acquire pursuant to any
option right) representing 25% or more of the combined voting power of such
securities;

     

    (d)           the
Company shall cease to have beneficial ownership (as defined in Rule 13d-3
under the Exchange Act) of 100% of the aggregate voting power of the Capital
Stock of each other Loan Party, free and clear of all Liens (other than any
Liens granted hereunder and Permitted Liens); or

     

    (e)           a
“Change of Control” shall occur under the Senior Subordinated Note
Indenture.

     

    “Closing Date” means
January 8, 2010.

     

    “Code” means the
Internal Revenue Code of 1986.

     

    

    
      
        
           

        

        
          S-8

          
            

          

        

        
           

        

      

    

    

    “Collateral” means all
of the property, rights and interests of the Loan Parties and their Subsidiaries
that are or are intended to be subject to the Liens created by the Security
Documents.

     

    “Columbus Asia” means
Columbus McKinnon Asia Pacific Ltd.

     

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

     

    “Committed Borrowing”
means a borrowing consisting of simultaneous Committed Loans of the same Type,
in the same currency and, in the case of Eurocurrency Rate Loans, having the
same Interest Period made by each of the Lenders pursuant to Section
2.01.

     

    “Committed Loan” has
the meaning specified in Section
2.01.

     

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

     

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

     

    “Company Security
Agreement” means that certain Amended and Restated Security Agreement,
dated as of March 16, 2006, from the Company to the Administrative
Agent.

     

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

     

    “Consolidated EBITDA”
means, for any period and without duplication, (a) Consolidated Net Income for
such period, plus (b) to the
extent deducted in calculating Consolidated Net Income and without duplication
(i) income taxes expensed during such period, (ii) Interest Expense during
such period, (iii) depreciation, amortization and other Non-Cash Charges accrued
for such period, (iv) Approved Restructuring Charges incurred during such
period, (v) the amount of any premium paid on the repurchase of the Senior
Subordinated Notes, (vi) non-cash losses from any Casualty Event, Disposition or
discontinued operation during such period, (vii) a non cash product liability
reserve for the Reference Period ending June 30, 2010 not to exceed $2,900,000
and (viii) non cash losses arising from mark-to-market hedging arrangements,
minus (c) to
the extent such items were added in calculating Consolidated Net Income (i)
extraordinary gains during such period, (ii) gains from any Casualty Event,
Disposition, or discontinued operation during such period, (iii) interest and
other income (excluding interest and other income related to CM Insurance
Company, Inc.) during such period, (iv) Federal, state, local and foreign income
tax credits of the Company and its Subsidiaries for such period, and (v) all
non-cash items for such period (including, without limitation, non cash gains
arising from

     

    

    
      
        
           

        

        
          S-9

          
            

          

        

        
           

        

      

    

    

    mark-to-market
hedging arrangements), minus (d) any and all
cash payouts during such period on account of the non cash product liability
reserve refereed to in clause (b)(vii) above.

     

    “Consolidated Net
Income” means, for any period, for the Company and its Subsidiaries on a
consolidated basis in accordance with GAAP, the net income of the Company and
its Subsidiaries.

     

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

     

    “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.  “Controlling” and
“Controlled”
have meanings correlative thereto.

     

    “Copyright Mortgage”
means any grant of security interest in copyrights, made by any Loan Party in
favor of the Administrative Agent, or any of its predecessors, including,
without limitation that certain Memorandum of Grant of Security Interest in
Copyrights, dated as of November 21, 2002, between Yale Industrial Products,
Inc. and Fleet Capital Corporation (n/k/a Bank of America, N.A.) as agent, as
amended, restated, replaced or assigned from time to time, including as amended
by that certain First Amendment to Memorandum of Grant of Security Interest in
Copyrights, dated as of March 16, 2006.

     

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

     

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

     

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

     

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

     

    “Defaulting Lender”
means any Lender that, as determined by the Administrative Agent, (a) has failed
to perform its obligation to fund any portion of its Loans within one Business
Day of the date required to be funded by it hereunder, unless such obligation is
the subject of a good faith dispute, (b) has notified the Borrowers, the
Administrative Agent or any Lender in writing

     

    

    
      
        
           

        

        
          S-10

          
            

          

        

        
           

        

      

    

    

    that it
does not intend to comply with any of its funding obligations under this
Agreement or has made a public statement that it does not intend to comply with
its funding obligations under this Agreement or generally under other agreements
in which it commits to extend credit, (c) has failed, within three (3) Business
Days after written request by the Administrative Agent, to confirm in a manner
reasonably satisfactory to the Administrative Agent, that it will comply with
the terms of this Agreement relating to its obligations to fund prospective
Loans, (d) otherwise has failed to pay over to the Administrative Agent or any
other Lender any other amount required to be paid by it hereunder within one
Business Day of the date when due, unless the subject of a good faith dispute,
or (e) has, or has a direct or indirect parent company that has, (i) become the
subject of a proceeding under any bankruptcy or insolvency proceeding, or (ii)
had a receiver, conservator, trustee, administrator, assignee for the benefit of
creditors or similar Person charged with reorganization or liquidation of its
business or a custodian appointed for it, or (iii) taken any action in
furtherance of, or indicating its consent to, approval of or acquiescence in any
such proceeding or appointment; provided that a
Lender shall not be a Defaulting Lender solely by virtue of the ownership or
acquisition of any equity interest in such Lender or direct or indirect parent
company thereof by a Governmental Authority.

     

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

     

    “Designated Borrower
Notice” has the meaning specified in Section 2.16(b).

     

    “Designated Borrower Request
and Assumption Agreement” has the meaning specified in Section 2.16(b).

     

    “Disposition” or
“Dispose” means
the sale, transfer, license, lease or other disposition (including any sale and
leaseback transaction) of any property by any Person, including any sale,
assignment, transfer or other disposal, with or without recourse, of any notes
or accounts receivable or any rights and claims associated
therewith.

     

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

     

    “Dollar Equivalent”
means, at any time, (a) with respect to any amount denominated in Dollars,
such amount, and (b) with respect to any amount denominated in any
Alternative Currency, the equivalent amount thereof in Dollars as determined by
the Administrative Agent or the L/C Issuer, as the case may be, at such time on
the basis of the Spot Rate (determined in respect of the most recent Revaluation
Date) for the purchase of Dollars with such Alternative Currency.

     

    “Domestic Loan Party”
means a Loan Party that is organized under the laws of any political subdivision
of the United States.

     

    “Domestic Loan Party
Obligations” means Obligations of the Domestic Loan Parties.

     

    “Domestic Subsidiary”
means any Subsidiary that is organized under the laws of any political
subdivision of the United States.

     

    

    
      
        
           

        

        
          S-11

          
            

          

        

        
           

        

      

    

    

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

     

    “EMU” means the
economic and monetary union in accordance with the Treaty of Rome 1957, as
amended by the Single European Act 1986, the Maastricht Treaty of 1992 and the
Amsterdam Treaty of 1998.

     

    “EMU Legislation”
means the legislative measures of the European Council for the introduction of,
changeover to or operation of a single or unified European
currency.

     

    “Environmental Indemnity
Agreement” means that certain Environmental Indemnity Agreement, dated as
of March 16, 2006 among the Company, Yale Industrial Products, Inc., Crane
Equipment & Service, Inc. and the Administrative Agent.

     

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

     

    “Environmental
Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or
indemnities), of the Company, any other Loan Party or any of their respective
Subsidiaries 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 Interests”
means, with respect to any Person, all of the shares of capital stock of (or
other ownership or profit interests in) such Person, all of the warrants,
options or other rights for the purchase or acquisition from such Person of
shares of capital stock of (or other ownership or profit interests in) such
Person, all of the securities convertible into or exchangeable for shares of
capital stock of (or other ownership or profit interests in) such Person or
warrants, rights or options for the purchase or acquisition from such Person of
such shares (or such other interests), and all of the other ownership or profit
interests in such Person (including partnership, member or trust interests
therein), whether voting or nonvoting, and whether or not such shares, warrants,
options, rights or other interests are outstanding on any date of
determination.

     

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

     

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

     

    

    
      
        
           

        

        
          S-12

          
            

          

        

        
           

        

      

    

    

    “ERISA Event” means
(a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal by the
Company or any ERISA Affiliate from a Pension Plan subject to Section 4063 of
ERISA during a plan year in which it was a substantial employer (as defined in
Section 4001(a)(2) of ERISA) or a cessation of operations that is treated
as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial
withdrawal by the Company or any ERISA Affiliate from a Multiemployer Plan or
notification that a Multiemployer Plan is in reorganization; (d) the filing of a
notice of intent to terminate, the treatment of a Plan amendment as a
termination under Section 4041 or 4041A of ERISA, or the commencement of
proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (e)
an event or condition which constitutes grounds under Section 4042 of ERISA for
the termination of, or the appointment of a trustee to administer, any Pension
Plan or Multiemployer Plan; or (f) the imposition of any liability under Title
IV of ERISA, other than for PBGC premiums due but not delinquent under Section
4007 of ERISA, upon the Company or any ERISA Affiliate.

     

    “Euro” and “EUR” mean the lawful
currency of the Participating Member States introduced in accordance with the
EMU Legislation.

     

    “Eurocurrency Rate”
means, for any Interest Period with respect to a Eurocurrency Rate Loan, the
rate per annum equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as
published by Reuters (or other commercially available source providing
quotations of BBA LIBOR as designated by the Administrative Agent from time to
time) at approximately 11:00 a.m., London time, two Business Days prior to the
commencement of such Interest Period, for deposits in the relevant currency (for
delivery on the first day of such Interest Period) with a term equivalent to
such Interest Period.  If such rate is not available at such time for
any reason, then the “Eurocurrency Rate” for such Interest Period shall be the
rate per annum determined by the Administrative Agent to be the rate at which
deposits in the relevant currency for delivery on the first day of such Interest
Period in Same Day Funds in the approximate amount of the Eurocurrency Rate Loan
being made, continued or converted by Bank of America and with a term equivalent
to such Interest Period would be offered by Bank of America’s London Branch (or
other Bank of America branch or Affiliate) to major banks in the London or other
offshore interbank market for such currency at their request at approximately
11:00 a.m. (London time) two Business Days prior to the commencement of such
Interest Period.

     

    “Eurocurrency Rate
Loan” means a Committed Loan that bears interest at a rate based on the
Eurocurrency Rate.  Eurocurrency Rate Loans may be denominated in
Dollars or in an Alternative Currency.  All Committed Loans
denominated in an Alternative Currency must be Eurocurrency Rate
Loans.

     

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

     

    “Excluded Taxes”
means, with respect to the Administrative Agent, any Lender, the L/C Issuer or
any other recipient of any payment to be made by or on account of any obligation
of any Borrower hereunder, (a) taxes imposed on or measured by its overall net
income (however denominated), and franchise taxes imposed on it (in lieu of net
income taxes), by the jurisdiction (or any political subdivision thereof) under
the Laws of which such recipient is organized or in which its principal office
is located or, in the case of any Lender, in which its applicable Lending Office
is located, (b) any branch profits taxes imposed by the United States or any
similar tax

     

    

    
      
        
           

        

        
          S-13

          
            

          

        

        
           

        

      

    

    

    imposed
by any other jurisdiction in which such Borrower is located, (c) any backup
withholding tax that is required by the Code to be withheld from amounts payable
to a Lender that has failed to comply with clause (A) of Section 3.01(e)(ii),
and (d) in the case of a Foreign Lender (other than an assignee pursuant to a
request by the Company under Section 10.13), any
United States withholding tax that (i)
is required to be imposed on amounts payable to such Foreign Lender pursuant to
the Laws in force at the time such Foreign Lender becomes a party hereto (or
designates a new Lending Office) or (ii) is attributable to such Foreign
Lender’s failure or inability (other than as a result of a Change in Law) to
comply with clause (B) of Section 3.01(e)(ii),
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 Borrower with respect to such withholding
tax pursuant to Section 3.01(a)(ii) or
(iii).  Notwithstanding anything to the contrary contained in
this definition, “Excluded Taxes” shall not include any withholding tax imposed
at any time on payments made by or on behalf of a Foreign Loan Party to any
Lender hereunder or under any other Loan Document, provided that such
Lender shall have complied with Section
3.01(e)(i).

     

    “Existing Letters of
Credit” means any Letter of Credit issued by the L/C Issuer (including
any Letter of Credit deemed to be issued) under the Third Amended and Restated
Credit Agreement.

     

    “Extraordinary
Receipts” means any cash received by the Company or any of its
Subsidiaries not in the ordinary course of business (and not consisting of
proceeds described in Sections 2.06 (b),
(d) or (e) hereof),
including, without limitation, (a) pension plan reversions, (b) proceeds of
insurance, (c) judgments, proceeds of settlements or other consideration of any
kind in connection with any cause of action, (d) condemnation awards (and
payments in lieu thereof), and (e) indemnity payments; provided that,
notwithstanding the foregoing, amounts received (i) with respect to any claim
made by the Company or any of its Subsidiaries for over-billing against Blue
Cross and Blue Shield, (ii) from the proceeds of that certain escrow account
established by Spreckles Industries, Inc. (with such account currently being
held by Yale Industrial Products, Inc.) to cover worker’s compensation claims
made against Spreckles Industries, Inc., (iii) from the lawsuit filed by the
Company against Durabilt Dyvex (“Durabilt”) in
connection with misrepresentations of Durabilt’s products resulting in a
competitive advantage, and (iv) from the Company’s claim against TIG Insurance,
ex Umbrella insurance carrier (“TIG”), for
liabilities insured by TIG over self-insured retention limit but not reimbursed
to the Company shall, in each case, not constitute Extraordinary
Receipts.

     

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

     

    

    
      
        
           

        

        
          S-14

          
            

          

        

        
           

        

      

    

    

    “Fee Letter” means the
letter agreement, dated as of the date hereof, among the Company, the
Administrative Agent and Banc of America Securities LLC.

     

    “First Amended and Restated
Credit Agreement” has the meaning assigned to such term in the
Recitals.

     

    “Fixed Charge Coverage
Ratio” means, as of any date of determination, the ratio of (a) (i)
Consolidated EBITDA for the Reference Period ended on such date, minus (ii) the
aggregate amount of all maintenance capital expenditures during such Reference
Period (such amount is initially estimated to be $2,240,000, as such amount
shall be adjusted by the Company to reflect any material change during such
Reference Period as determined by the Company’s ordinary course reporting
procedures), minus (iii) the
aggregate amount paid, or required to be paid (without duplication), in cash
(but in no event less than zero in the aggregate) in respect of the current
portion of all income taxes for such Reference Period to (b) the sum for the
Company and its Subsidiaries (determined on a consolidated basis without
duplication in accordance with GAAP), of (i) the aggregate amount of Interest
Expense for such Reference Period (exclusive of Interest Expense consisting of
non-cash liabilities arising from mark-to-market hedging arrangements), minus, to the extent
included in Interest Expense, the amortization during such Reference Period of
financing costs incurred in connection with Indebtedness, plus (ii) the
aggregate amount of regularly scheduled payments of principal in respect of
Indebtedness for borrowed money (including the principal component of any
payments in respect of Capital Lease Obligations, but excluding any payments
made in respect of the Senior Subordinated Notes pursuant to Section 7.06(f)) paid
or required to be paid during such Reference Period; provided, that, in the event of
an acquisition permitted by Section 7.02 made
during any Reference Period, the foregoing ratio shall be calculated on a pro
forma basis as if such acquisition had occurred on the first day of such
Reference Period, with such pro forma adjustments as may be reasonably
satisfactory to the Administrative Agent.

     

    “Foreign Borrower”
means a Designated Borrower that is a Foreign Subsidiary.

     

    “Foreign Borrower
Sublimit” means the lesser of (a) $40,000,000 and (b) the Aggregate
Commitments. The Foreign Borrower Sublimit is part of, and not in addition to,
the Aggregate Commitments.

     

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

     

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

     

    “Foreign Loan Party
Obligations” means Obligations of each Foreign Loan Party.

     

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

     

    

    
      
        
           

        

        
          S-15

          
            

          

        

        
           

        

      

    

    

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

     

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

     

    “GAAP” means generally
accepted accounting principles in the United States set forth in the opinions
and pronouncements of the Accounting Principles Board and the American Institute
of Certified Public Accountants and statements and pronouncements of the
Financial Accounting Standards Board or such other principles as may be approved
by a significant segment of the accounting profession in the United States, that
are applicable to the circumstances as of the date of determination,
consistently applied.

     

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

     

    “Granting Lender” has
the meaning specified in Section
10.06(h).

     

    “Guarantee” means, as
to any Person, any (a) obligation, contingent or otherwise, of such Person
guaranteeing or having the economic effect of guaranteeing any Indebtedness or
other obligation payable or performable by another Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any
obligation of such Person, direct or indirect, (i) to purchase or pay (or
advance or supply funds for the purchase or payment of) such Indebtedness or
other obligation, (ii) to purchase or lease property, securities or services for
the purpose of assuring the obligee in respect of such Indebtedness or other
obligation of the payment or performance of such Indebtedness or other
obligation, (iii) to maintain working capital, equity capital or any other
financial statement condition or liquidity or level of income or cash flow of
the primary obligor so as to enable the primary obligor to pay such Indebtedness
or other obligation, or (iv) entered into for the purpose of assuring in any
other manner the obligee in respect of such Indebtedness or other obligation of
the payment or performance thereof or to protect such obligee against loss in
respect thereof (in whole or in part), or (b) Lien on any assets of such Person
securing any Indebtedness or other obligation of any other Person, whether or
not such Indebtedness or other obligation is assumed by such Person (or any
right, contingent or otherwise, of any holder of such Indebtedness to obtain any
such Lien).  The amount of any Guarantee shall be deemed to be an
amount equal to the stated or determinable amount of the related primary
obligation, or portion thereof, in respect of which such Guarantee is made or,
if not stated or determinable, the maximum reasonably anticipated liability in
respect thereof as determined by the guaranteeing Person in good
faith.  The term “Guarantee” as a verb has a corresponding
meaning.

     

    

    
      
        
           

        

        
          S-16

          
            

          

        

        
           

        

      

    

    

    “Guarantors” means,
collectively, each Subsidiary of the Company listed as “Guarantor” on the
signature pages hereto and each other Person (other than a Borrower) which
guaranties the Obligations.

     

    “Guarantor Security
Agreements” means, collectively (a) each Amended and Restated Security
Agreement, dated as of March 16, 2006 from a Guarantor to the Administrative
Agent, for the benefit of the Lenders and (b) each additional security agreement
executed by a Guarantor.

     

    “Guaranties” means the
Guaranties made by the Company, the other Borrowers and the Guarantors in favor
of the Administrative Agent and the Lenders.

     

    “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.

     

    “Hong Kong Dollar”
means the lawful currency of Hong Kong.

     

    “Increase Effective
Date” has the meaning specified in Section
2.14(d).

     

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

     

    (a)           all
obligations of such Person for borrowed money and all obligations of such Person
evidenced by bonds, debentures, notes, loan agreements or other similar
instruments;

     

    (b)           all
direct or contingent obligations of such Person arising under letters of credit
(including standby and commercial), bankers’ acceptances, bank guaranties,
surety bonds and similar instruments;

     

    (c)           net
obligations of such Person under any Swap Contract;

     

    (d)           all
obligations of such Person to pay the deferred purchase price of property or
services (other than trade accounts payable in the ordinary course of business
and, in each case, not past due for more than 90 days after the date on which
such trade account payable was created);

     

    (e)           indebtedness
(excluding prepaid interest thereon) secured by a Lien on property owned or
being purchased by such Person (including indebtedness arising under conditional
sales or other title retention agreements), whether or not such indebtedness
shall have been assumed by such Person or is limited in recourse;

     

    (f)           capital
leases and Synthetic Lease Obligations;

     

    (g)           all
obligations of such Person to purchase, redeem, retire, defease or otherwise
make any payment in respect of any Equity Interest in such Person or any other
Person, valued,

     

    

    
      
        
           

        

        
          S-17

          
            

          

        

        
           

        

      

    

    

    in the
case of a redeemable preferred interest, at the greater of its voluntary or
involuntary liquidation preference plus accrued and
unpaid dividends; and

     

    (h)           all
Guarantees of such Person in respect of any of the foregoing.

     

    For all
purposes hereof, the Indebtedness of any Person shall include the Indebtedness
of any partnership or joint venture (other than a joint venture that is itself a
corporation or limited liability company) in which such Person is a general
partner or a joint venturer, unless such Indebtedness is made non-recourse to
such Person.  The amount of any net obligation under any Swap Contract
on any date shall be deemed to be the Swap Termination Value thereof as of such
date.  The amount of any capital lease or Synthetic Lease Obligation
as of any date shall be deemed to be the amount of Attributable Indebtedness in
respect thereof as of such date.

     

    “Indemnified Taxes”
means Taxes other than Excluded Taxes.

     

    “Impacted Lender”
means a Defaulting Lender or a Lender as to which (a) the Administrative Agent
or L/C Issuer has a good faith belief that such Lender has defaulted in
fulfilling its obligations under one or more other syndicated credit facilities
or (b) an entity that controls such Lender has been deemed insolvent or become
the subject of a bankruptcy or insolvency proceeding.

     

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

     

    “Information” has the
meaning specified in Section
10.07.

     

    “Intellectual Property
Security Agreements” means each Trademark Agreement, Patent Agreement or
Copyright Mortgage.

     

    “Interest Expense”
means, for any period, the sum, without duplication, for the Company and its
Subsidiaries (determined on a consolidated basis in accordance with GAAP), of
the following: (a) all interest in respect of Indebtedness accrued or paid
during such period (whether or not actually paid during such period), plus (b) the net
amounts paid (or minus the net amounts
received) in respect of interest rate Swap Contracts during such period,
excluding reimbursement of legal fees and other similar transaction costs and
excluding payments required by reason of the early termination of interest rate
Swap Contracts in effect on the Closing Date, plus (c) all fees,
including letter of credit fees and expenses, (but excluding reimbursement of
legal fees), plus (d) the
amortization of financing costs in connection with Indebtedness.

     

    “Interest Payment
Date” means, (a) as to any Loan other than a Base Rate Loan, the last day
of each Interest Period applicable to such Loan and the Maturity Date; provided, however, that if any
Interest Period for a Eurocurrency Rate Loan exceeds three months, the
respective dates that fall every three months after the beginning of such
Interest Period shall also be Interest Payment Dates; and (b) as to any Base
Rate Loan (including a Swing Line Loan), the fifth (5th) day of each January,
April, July and October and the Maturity Date.

     

    “Interest Period”
means, as to each Eurocurrency Rate Loan, the period commencing on the date such
Eurocurrency Rate Loan is disbursed or converted to or continued as a
Eurocurrency Rate Loan and ending on the date seven (7) or fourteen (14) days or
one, two,

     

    

    
      
        
           

        

        
          S-18

          
            

          

        

        
           

        

      

    

    

    three or
six months thereafter, as selected by the Company in its Committed Loan Notice;
provided
that:

     

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

     

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

     

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

     

    “Internal Control
Event” means a material weakness in, or fraud that involves management or
other employees who have a significant role in, the Company’s internal controls
over financial reporting, in each case as described in the Securities
Laws.

     

    “Investment” means, as
to any Person, any direct or indirect acquisition or investment by such Person,
whether by means of (a) the purchase or other acquisition of capital stock or
other securities of another Person, (b) a loan, advance or capital contribution
to, Guarantee or assumption of debt of, or purchase or other acquisition of any
other debt or equity participation or interest in, another Person, including any
partnership or joint venture interest in such other Person and any arrangement
pursuant to which the investor Guarantees Indebtedness of such other Person, or
(c) the purchase or other acquisition (in one transaction or a series of
transactions) of assets of another Person that constitute a business
unit.  For purposes of covenant compliance, the amount of any
Investment shall be the amount actually invested, without adjustment for
subsequent increases or decreases in the value of such Investment.

     

    “IP Rights” has the
meaning specified in Section
5.18.

     

    “IRS” means the United
States Internal Revenue Service.

     

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

     

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

     

    “Laws” means,
collectively, all international, foreign, Federal, state and local statutes,
treaties, rules, guidelines, regulations, ordinances, codes and administrative
or judicial precedents or authorities, including the interpretation or
administration thereof by any Governmental Authority charged with the
enforcement, interpretation or administration thereof, and all applicable
administrative orders, directed duties, requests, licenses, authorizations
and

     

    

    
      
        
           

        

        
          S-19

          
            

          

        

        
           

        

      

    

    

    permits
of, and agreements with, any Governmental Authority, in each case whether or not
having the force of law.

     

    “L/C Advance” means,
with respect to each Lender, such Lender’s funding of its participation in any
L/C Borrowing in accordance with its Applicable Percentage.  All L/C
Advances shall be denominated in Dollars.

     

    “L/C Borrowing” means
an extension of credit resulting from a drawing under any Letter of Credit which
has not been reimbursed on the date when made or refinanced as a Committed
Borrowing.  All L/C Borrowings shall be denominated in
Dollars.

     

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

     

    “L/C Issuer” means
Bank of America in its capacity as issuer of Letters of Credit hereunder, or any
successor issuer of Letters of Credit hereunder.

     

    “L/C Obligations”
means, as at any date of determination, the aggregate amount available to be
drawn under all outstanding Letters of Credit plus the aggregate of
all Unreimbursed Amounts, including all L/C Borrowings.  For purposes
of computing the amount available to be drawn under any Letter of Credit, the
amount of such Letter of Credit shall be determined in accordance with Section
1.09.  For all purposes of this Agreement, if on any date of
determination a Letter of Credit has expired by its terms but any amount may
still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP,
such Letter of Credit shall be deemed to be “outstanding” in the amount so
remaining available to be drawn.

     

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

     

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

     

    “Letter of Credit”
means any standby letter of credit issued hereunder and shall include the
Existing Letters of Credit.  Letters of Credit may be issued in
Dollars or in an Alternative Currency.

     

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

     

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

     

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

     

    “Letter of Credit
Sublimit” means an amount equal to the lesser of (a) $40,000,000 and (b)
the Aggregate Commitments. The Letter of Credit Sublimit is part of, and not in
addition to, the Aggregate Commitments.

     

    

    
      
        
           

        

        
          S-20

          
            

          

        

        
           

        

      

    

    

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

     

    “Loan” means an
extension of credit by a Lender to a Borrower under Article II in the
form of a Committed Loan or a Swing Line Loan.

     

    “Loan Documents” means
this Agreement, each Designated Borrower Request and Assumption Agreement, each
Note, each Issuer Document, the Fee Letter, the Post Closing Letter, the
Amendment and Reaffirmation and each of the Security Documents.

     

    “Loan Parties” means,
collectively, the Company, each Designated Borrower and each
Guarantor.

     

    “Mandatory Cost”
means, with respect to any period, the percentage rate per annum determined in
accordance with Schedule 1.01.

     

    “Material Adverse
Effect” means (a) a material adverse change in, or a material adverse
effect upon, the operations, business, properties, assets, liabilities (actual
or contingent), condition (financial or otherwise) or prospects of the Company
or the Company and its Subsidiaries taken as a whole; (b) a material impairment
of the ability of any Loan Party to perform its obligations under any Loan
Document to which it is a party; or (c) a material adverse effect upon the
legality, validity, binding effect, enforceability or rights and remedies of the
Administrative Agent or the Lenders against any Loan Party under any Loan
Document to which it is a party.

     

    “Material Rental
Obligation” means the obligation of the Loan Parties to pay rent under
any one or more operating leases with respect to any real or personal property
that is material to the business of the Loan Parties and as to which the
aggregate amount of all rents payable during any fiscal year exceeds
$500,000.

     

    “Maturity Date” means
May 1, 2013; provided that if, on
or prior to May 1, 2013, the Senior Subordinated Notes are paid in full with the
proceeds of Indebtedness permitted under Section 7.03(j) and
with a maturity of no earlier than January 5, 2014, and with reasonably
satisfactory evidence thereof having been provided to the Administrative Agent,
“Maturity Date” shall mean December 31, 2013; provided, further, that, in
each case, if such date is not a Business Day, the Maturity Date shall be the
next preceding Business Day.

     

    “Mexican Peso” means
the lawful currency of Mexico.

     

    “Mortgages” means,
collectively, the several security instruments (whether designated as a deed of
trust or a mortgage, leasehold mortgage, assignment of leases and rents or by
any similar title) executed and delivered by any Loan Party to the
Administrative Agent, in such form as may be approved by the Administrative
Agent in its sole and reasonable discretion, in each case with such changes
thereto as may be recommended by the Administrative Agent’s local

     

    

    
      
        
           

        

        
          S-21

          
            

          

        

        
           

        

      

    

    

    counsel
based on local laws or customary local practices, with respect to the real
property owned or leased by a Loan Party, in each case as such security
instrument or amendment may be amended, supplemented or otherwise modified from
time to time, including, without limitation, any mortgages granted to the
Administrative Agent after the Closing Date pursuant to Section
6.13.

     

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

     

    “Net Cash Proceeds”
means:

     

    (a)           with
respect to the sale of any asset by any Loan Party, the excess, if any, of (i)
the sum of cash and cash equivalents received in connection with such sale
(including any cash received by way of deferred payment pursuant to, or by
monetization of, a note receivable or otherwise, but only as and when so
received) over (ii) the sum of (A) the principal amount of any Indebtedness that
is secured by such asset, so long as the lien securing such Indebtedness is
permitted pursuant to Section 7.01, and
that is required to be repaid in connection with the sale thereof (other than
Indebtedness under the Loan Documents), (B) the out-of-pocket expenses incurred
by such Loan Party in connection with such sale and (C) income taxes reasonably
estimated to be actually payable within two years of the date of the relevant
asset sale as a result of any gain recognized in connection therewith;
and

     

    (b)           with
respect to the sale of any capital stock or other equity interest or the
incurrence of any Indebtedness by any Loan Party, the excess of (i) the sum of
the cash and cash equivalents received in connection with such sale or
incurrence over (ii) the underwriting discounts and commissions, and other
out-of-pocket expenses, incurred by such Loan Party in connection with such sale
or incurrence.

     

    “Non-Cash Charges”
means, with respect to any calculation of Consolidated Net Income for any
period, all non-cash extraordinary losses and charges deducted in such
calculation, as determined in accordance with GAAP (excluding inventory and
account receiveable write-downs and charge-offs), including, without limitation,
non-cash recognition of unrealized declines in the market value of marketable
securities recorded in accordance with FASB Statement No. 115, non-cash asset
impairment charges recorded in accordance with FASB Statement No. 142 and FASB
Statement No. 144, and non-cash restructuring charges.

     

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

     

    “Obligations” means
all advances to, and debts, liabilities, obligations, covenants and duties of,
the Company and its Subsidiaries arising under any Loan Document or otherwise
with respect to any Loan or Letter of Credit or any Bank Product Obligations,
whether direct or indirect (including those acquired by assumption), absolute or
contingent, due or to become due, now existing or hereafter arising and
including interest and fees that accrue after the commencement by or against the
Company or any Affiliate thereof of any proceeding under any

     

    

    
      
        
           

        

        
          S-22

          
            

          

        

        
           

        

      

    

    

    Debtor
Relief Laws naming such Person as the debtor in such proceeding, regardless of
whether such interest and fees are allowed claims in such
proceeding.

     

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

     

    “Original Credit
Agreement” has the meaning assigned to such term in the
Recitals.

     

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

     

    “Outstanding Amount”
means (i) with respect to Committed Loans on any date, the Dollar Equivalent
amount of the aggregate outstanding principal amount thereof after giving effect
to any borrowings and prepayments or repayments of such Committed Loans
occurring on such date; (ii) with respect to Swing Line Loans on any date, the
aggregate outstanding principal amount thereof after giving effect to any
borrowings and prepayments or repayments of such Swing Line Loans occurring on
such date; and (iii) with respect to any L/C Obligations on any date, the Dollar
Equivalent amount of the aggregate outstanding amount of such L/C Obligations on
such date after giving effect to any L/C Credit Extension occurring on such date
and any other changes in the aggregate amount of the L/C Obligations as of such
date, including as a result of any reimbursements by the Borrowers of
Unreimbursed Amounts.

     

    “Overnight Rate”
means, for any day, (a) with respect to any amount denominated in Dollars, the
greater of (i) the Federal Funds Rate and (ii) an overnight rate determined by
the Administrative Agent, the L/C Issuer, or the Swing Line Lender, as the case
may be, in accordance with banking industry rules on interbank compensation, and
(b) with respect to any amount denominated in an Alternative Currency, the rate
of interest per annum at which overnight deposits in the applicable Alternative
Currency, in an amount approximately equal to the amount with respect to which
such rate is being determined, would be offered for such day by a branch or
Affiliate of Bank of America in the applicable offshore interbank market for
such currency to major banks in such interbank market.

     

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

     

    “Participating Member
State” means each state so described in any EMU Legislation.

     

    “Patent Agreement”
means any grant of security interest in patents, made by any Loan Party in favor
of the Administrative Agent, or any of its predecessors, including,
without

     

    

    
      
        
           

        

        
          S-23

          
            

          

        

        
           

        

      

    

    

    limitation
that certain Patent Collateral Assignment and Security Agreement, dated as of
November 21, 2002, by and among the Company, Yale Industrial Products, Inc. and
Fleet Capital Corporation (n/k/a Bank of America, N.A.) as agent, as amended,
restated, replaced or assigned from time to time, including as amended by that
certain First Amendment to Patent Collateral Assignment and Security Agreement,
dated as of March 16, 2006.

     

    “PBGC” means the
Pension Benefit Guaranty Corporation.

     

    “PCAOB” means the
Public Company Accounting Oversight Board.

     

    “Pension Plan” means
any “employee pension benefit plan” (as such term is defined in Section 3(2) of
ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA
and is sponsored or maintained by the Company or any ERISA Affiliate or to which
the Company or any ERISA Affiliate contributes or has an obligation to
contribute, or in the case of a multiple employer or other plan described in
Section 4064(a) of ERISA, has made contributions at any time during the
immediately preceding five plan years.

     

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

     

    “Pfaff” means Pfaff
Beteiligungs GmbH.

     

    “PILOT Leases” means
those certain leases between the Company and/or its Subsidiaries and the (i) the
city of Lexington, Tennessee and (ii) the city of Chattanooga, Tennessee and the
county of Hamilton, Tennessee and/or an authority or other designee of such
entities in connection with the acquisition of new equipment and the relocation
of certain existing equipment of the Company, its Subsidiaries or its
Affiliates.  All of such equipment will be used at the Company’s
existing facilities located in the city of Lexington, Tennessee and the city of
Chattanooga, Tennessee.

     

    “Plan” means any
“employee benefit plan” (as such term is defined in Section 3(3) of ERISA)
established by the Company or, with respect to any such plan that is subject to
Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate.

     

    “Platform” has the
meaning specified in Section
6.02.

     

    “Pledge Agreements”
means the pledge agreements, between a Loan Party and the Administrative Agent,
pursuant to which any Loan Party pledges any stock, other equity interests or
intercompany notes held by it, including, without limitation that certain Pledge
Agreement, dated as of November 21, 2002, by and among the Company, Audubon
West, Inc., Crane Equipment & Service, Inc. and Fleet Capital Corporation
(n/k/a Bank of America, N.A.) as agent, as amended, restated, replaced or
assigned from time to time, including, as amended by that certain First
Amendment to Pledge Agreement, dated as of the March 16, 2006.

     

    “Post Closing Letter”
means the post closing letter, dated as of the date hereof, among the
Administrative Agent and the Loan Parties.

     

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

     

    

    
      
        
           

        

        
          S-24

          
            

          

        

        
           

        

      

    

    

    “Reference Period”
means, as of any date of determination, the period of four (4) consecutive
fiscal quarters of the Company and its Subsidiaries ending on such date, or if
such date is not a fiscal quarter end date, the period of four (4) consecutive
fiscal quarters most recently ended (in each case treated as a single accounting
period).

     

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

     

    “Registered Public Accounting
Firm” has the meaning specified in the Securities Laws and shall be
independent of the Company as prescribed by the Securities Laws.

     

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

     

    “Related Real Estate
Documents” with respect to any real estate subject to a Mortgage, the
following, in form and substance reasonably satisfactory to Administrative Agent
and received by Administrative Agent for review at least 15 days prior to the
effective date of the Mortgage (or such shorter length of time acceptable to
Administrative Agent in its reasonable discretion):  (a) a mortgagee
title policy (or binder therefor) covering Administrative Agent’s interest under
the Mortgage, in a form and amount and by an insurer reasonably acceptable to
Administrative Agent, which must be fully paid on such effective date; (b) such
assignments of leases, rents, estoppel letters, attornment agreements, consents,
waivers and releases as Administrative Agent may require with respect to other
Persons having an interest in the real estate; (c) a current, as-built survey of
the real estate, containing a metes-and-bounds property description and flood
plain certification, and certified by a licensed surveyor reasonably acceptable
to Administrative Agent; (d) flood insurance in an amount, with endorsements and
by an insurer reasonably acceptable to Administrative Agent, if the real estate
is within a flood plain; (e) a current appraisal of the real estate, prepared by
an appraiser reasonably acceptable to Administrative Agent, and in form and
substance satisfactory to Required Lenders; (f) a Phase I (and to the extent
appropriate, Phase II) environmental assessment report, prepared by an
environmental consulting firm reasonably satisfactory to Administrative Agent,
and accompanied by such reports, certificates, studies or data as Administrative
Agent may reasonably require, which shall all be in form and substance
reasonably satisfactory to Administrative Agent; and (g) an environmental
indemnity agreement and such other documents, instruments or agreements as
Administrative Agent may reasonably require with respect to any environmental
risks regarding the real estate.

     

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

     

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

     

    “Required Lenders”
means, as of any date of determination, Lenders having more than 50% of the
Aggregate Commitments or, if the commitment of each Lender to make Loans
and

     

    

    
      
        
           

        

        
          S-25

          
            

          

        

        
           

        

      

    

    

    the
obligation of the L/C Issuer to make L/C Credit Extensions have been terminated
pursuant to Section
8.02, Lenders holding in the aggregate more than 50% of the Total
Outstandings (with the aggregate amount of each Lender’s risk participation and
funded participation in L/C Obligations and Swing Line Loans being deemed “held”
by such Lender for purposes of this definition); provided that the
Commitment of, and the portion of the Total Outstandings held or deemed held by,
any Defaulting Lender shall be excluded for purposes of making a determination
of Required Lenders.

     

    “Responsible Officer”
means the chief executive officer, president, chief financial officer,
treasurer, secretary, assistant treasurer or controller of a Loan
Party.  Any document delivered hereunder that is signed by a
Responsible Officer of a Loan Party shall be conclusively presumed to have been
authorized by all necessary corporate, partnership and/or other action on the
part of such Loan Party and such Responsible Officer shall be conclusively
presumed to have acted on behalf of such Loan Party.

     

    “Restricted Payment”
means (i) any dividend or other distribution (whether in cash, securities or
other property) with respect to any capital stock or other Equity Interest of
the Company or any Subsidiary, or 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 capital stock or other Equity Interest, or on account of any return
of capital to the Company’s stockholders, partners or members (or the equivalent
Person thereof), (ii) any redemption, retirement, sinking fund or similar
payment, purchase or other acquisition for value, direct or indirect, of any
shares of any class of stock of, or other equity interest in, any Loan Party or
any of its Subsidiaries now or hereafter outstanding, (iii) any payment made to
retire, or to obtain the surrender of, any outstanding warrants, options or
other rights to acquire shares of any class of stock of, or other equity
interest in, any Loan Party or any of its Subsidiaries, (iv) any payment or
prepayment of principal of, premium, if any, or interest on, or redemption
purchase, retirement, defeasance (including economic or legal defeasance),
sinking fund or similar payment with respect to the Senior Subordinated Notes or
other Indebtedness permitted under Section 7.03(j)
and/or any intercompany Indebtedness owing by the Company or any Subsidiary, and
(v) any payment made to any Affiliates of any Loan Party or any of its
Subsidiaries in respect of management, consulting or other similar services
provided to any Loan Party or any of its Subsidiaries.

     

    “Revaluation Date”
means (a) with respect to any Loan, each of the following:  (i) each
date of a Borrowing of a Eurocurrency Rate Loan denominated in an Alternative
Currency, (ii) each date of a continuation of a Eurocurrency Rate Loan
denominated in an Alternative Currency pursuant to Section 2.02,
and (iii) such additional dates as the Administrative Agent shall determine or
the Required Lenders shall require; and (b) with respect to any Letter of
Credit, each of the following:  (i) each date of issuance of a Letter
of Credit denominated in an Alternative Currency, (ii) each date of an amendment
of any such Letter of Credit having the effect of increasing the amount thereof
(solely with respect to the increased amount), (iii) each date of any payment by
the L/C Issuer under any Letter of Credit denominated in an Alternative
Currency, (iv) in the case of the Existing Letters of Credit, the Closing Date,
and (v) such additional dates as the Administrative Agent or the L/C Issuer
shall determine or the Required Lenders shall require.

     

    

    
      
        
           

        

        
          S-26

          
            

          

        

        
           

        

      

    

    

    “Same Day Funds” means
(a) with respect to disbursements and payments in Dollars, immediately available
funds, and (b) with respect to disbursements and payments in an Alternative
Currency, same day or other funds as may be determined by the Administrative
Agent or the L/C Issuer, as the case may be, to be customary in the place of
disbursement or payment for the settlement of international banking transactions
in the relevant Alternative Currency.

     

    “Sarbanes-Oxley” means
the Sarbanes-Oxley Act of 2002.

     

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

     

    “Second Amended and Restated
Credit Agreement” has the meaning assigned to such term in the
Recitals.

     

    “Securities Laws”
means the Securities Act of 1933, the Securities Exchange Act of 1934,
Sarbanes-Oxley and the applicable accounting and auditing principles, rules,
standards and practices promulgated, approved or incorporated by the SEC or the
PCAOB.

     

    “Security Documents”
means collectively, the Mortgages, the Guaranties, the Pledge Agreements, the
Company Security Agreement, the Guarantor Security Agreements, the Environmental
Indemnity Agreement, the Intellectual Property Security Agreements, any
assignments of intercompany Indebtedness and all other security agreements, UCC
financing statements, and any other instruments or documents required by the
Administrative Agent to be executed or delivered hereunder to secure the
Obligations.

     

    “Senior Subordinated Note
Documents” means the Senior Subordinated Note Indenture, the Senior
Subordinated Notes and all other documents, instruments and agreements executed
and delivered in connection with the Senior Subordinated Notes, in each case, as
the same shall, subject to the terms and conditions of this Agreement, be
amended, supplemented or otherwise modified and in effect from time to
time.

     

    “Senior Subordinated Note
Indenture” means the Columbus McKinnon Corporation 8 7⁄8% Senior
Subordinated Notes Due 2013 Indenture, dated as of September 2, 2005, between
the Company, as issuer, and U.S. Bank, as trustee, as the same shall, subject to
the terms and conditions of this Agreement, be further amended, supplemented or
otherwise modified and in effect from time to time.

     

    “Senior Subordinated
Notes” means the Company’s 8 7⁄8% senior subordinated notes due 2013,
issued pursuant to the Senior Subordinated Note Indenture, as the same shall,
subject to the terms and conditions of this Agreement, be amended, supplemented
or otherwise modified and in effect from time to time.

     

    “Significant
Subsidiary” means any Subsidiary of the Company which accounts for more
than fifteen percent of one or more of:

     

    
      	
               
      

            	
              (a)

            	
              the
      book value of the consolidated assets of the Company and its Subsidiaries;
      or

            

    

     

    

    
      
        
           

        

        
          S-27

          
            

          

        

        
           

        

      

    

    

    
      	
               
      

            	
              (b)

            	
              the
      consolidated revenues of the Company and its
  Subsidiaries,

            

    

     

    all as
shown in the financial statements most recently delivered under Section 6.01(a) or
(b).

     

    “Solvent” means, with
respect to any Person on a particular date, that, at fair valuations, (a) the
sum of such Person’s assets is greater than (x) all of such Person’s
consolidated liabilities (including contingent, subordinated, unmatured and
unliquidated liabilities) and (y) the amount required to pay such liabilities as
they become absolute, matured or otherwise become due in the normal course of
business, (b) such Person has the ability to pay its debts and liabilities
(including contingent, subordinated, unmatured and unliquidated liabilities) as
they become absolute, matured or otherwise become due in the normal course of
business and (c) such Person does not have an unreasonably small amount of
capital with which to conduct its business.

     

    “SPC” has the meaning
specified in Section
10.06(h).

     

    “Special Notice
Currency” means at any time an Alternative Currency, other than the
currency of a country that is a member of the Organization for Economic
Cooperation and Development at such time located in North America or
Europe.

     

    “Specified Business”
means each of (a) the “Duff Norton Europe business”, (b) the “Rotary Union”
business and (c) the “Abell-Howe business”.

     

    “Spot Rate” for a
currency means the rate determined by the Administrative Agent or the L/C
Issuer, as applicable, to be the rate quoted by the Person acting in such
capacity as the spot rate for the purchase by such Person of such currency with
another currency through its principal foreign exchange trading office at
approximately 11:00 a.m. on the date two Business Days prior to the date as of
which the foreign exchange computation is made; provided that the Administrative
Agent or the L/C Issuer may obtain such spot rate from another financial
institution designated by the Administrative Agent or the L/C Issuer if the
Person acting in such capacity does not have as of the date of determination a
spot buying rate for any such currency; and provided further that the L/C
Issuer may use such spot rate quoted on the date as of which the foreign
exchange computation is made in the case of any Letter of Credit denominated in
an Alternative Currency.

     

    “Sterling” and “£” mean the lawful
currency of the United Kingdom.

     

    “Subsidiary” of a
Person means a corporation, partnership, joint venture, limited liability
company or other business entity of which a majority of the shares of securities
or other interests having ordinary voting power for the election of directors or
other governing body (other than securities or interests having such power only
by reason of the happening of a contingency) are at the time beneficially owned,
or the management of which is otherwise controlled, directly, or indirectly
through one or more intermediaries, or both, by such Person.  Unless
otherwise specified, all references herein to a “Subsidiary” or to
“Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the
Company.

     

    “Swap Contract” means
(a) any and all rate swap transactions, basis swaps, credit derivative
transactions, forward rate transactions, commodity swaps, commodity
options,

     

    

    
      
        
           

        

        
          S-28

          
            

          

        

        
           

        

      

    

    

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

     

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

     

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

     

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

     

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

     

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

     

    “Swing Line Sublimit”
means an amount equal to the lesser of (a) $15,000,000 and (b) the Aggregate
Commitments.  The Swing Line Sublimit is part of, and not in addition
to, the Aggregate Commitments.

     

    “Swiss Franc” means
the lawful currency of Switzerland.

     

    “Synthetic Lease
Obligation” means the monetary obligation of a Person under (a) a
so-called synthetic, off-balance sheet or tax retention lease, or (b) an
agreement for the use or possession of property creating obligations that do not
appear on the balance sheet of such Person but which, upon the insolvency or
bankruptcy of such Person, would be characterized as the indebtedness of such
Person (without regard to accounting treatment).

     

    “TARGET Day” means any
day on which the Trans-European Automated Real-time Gross Settlement Express
Transfer (TARGET) payment system (or, if such payment system

     

    

    
      
        
           

        

        
          S-29

          
            

          

        

        
           

        

      

    

    

    ceases to
be operative, such other payment system (if any) determined by the
Administrative Agent to be a suitable replacement) is open for the settlement of
payments in Euro.

     

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

     

    “Third Amended and Restated
Credit Agreement” has the meaning assigned to such term in the
Recitals.

     

    “Threshold Amount”
means $2,000,000.

     

    “Total Funded
Indebtedness” means, with respect to the Company and its Subsidiaries,
the sum, without duplication, of (a) the aggregate amount of Indebtedness of the
Company and its Subsidiaries determined on a consolidated basis in accordance
with GAAP, relating to (i) the borrowing of money or the obtaining of credit,
including the issuance of notes or bonds, (ii) the deferred purchase price of
assets (other than trade payables incurred in the ordinary course of business),
(iii) in respect of any Synthetic Lease Obligations or any Capital Lease
Obligations, and (iv) the maximum drawing
amount of all letters of credit outstanding, plus (b) Indebtedness
of the type referred to in clause (a) of another Person guaranteed by the
Company or any of its Subsidiaries.

     

    “Total Leverage Ratio”
means, as of any date of determination, the ratio of (a) an amount equal to (i)
Total Funded Indebtedness (which shall include the L/C Obligations) of the
Company and its Subsidiaries outstanding on such date, less (ii) Indebtedness in
respect of Guarantees by the Company permitted under Section 7.03(k),
less (iii) cash on hand
of the Company and its Subsidiaries on such date to (b) Consolidated EBITDA
for the Reference Period ended on such date; provided, that, in the event of
an acquisition permitted by Section 7.02 made
during any Reference Period, the foregoing ratio shall be calculated on a pro
forma basis as if such acquisition had occurred on the first day of such
Reference Period, with such pro forma adjustments as may be reasonably
satisfactory to the Administrative Agent.

     

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

     

    “Trademark Agreement”
means any grant of security interest in trademarks, made by any Loan Party in
favor of the Administrative Agent, or any of its predecessors, including,
without limitation that certain Trademark Collateral Security and Pledge
Agreement, dated as of November 21, 2002, by and among the Company, Yale
Industrial Products, Inc. and Fleet Capital Corporation (n/k/a Bank of America,
N.A.) as agent, as amended, restated, replaced or assigned from time to time,
including as amended by that certain First Amendment to Trademark Collateral
Security and Pledge Agreement, dated as of the March 16, 2006.

     

    “Type” means, with
respect to a Committed Loan, its character as a Base Rate Loan or a Eurocurrency
Rate Loan.

     

    

    
      
        
           

        

        
          S-30

          
            

          

        

        
           

        

      

    

    

    “Unfunded Pension
Liability” means the excess of a Pension Plan’s benefit liabilities under
Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s
assets, determined in accordance with the assumptions used for funding the
Pension Plan pursuant to Section 412 of the Code for the applicable plan
year.

     

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

     

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

     

    “Yale GMBH” means Yale
Industrial Products GmbH.

     

    “Yen” and “¥” mean the lawful
currency of Japan.

     

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

     

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

     

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

     

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

     

    

    
      
        
           

        

        
          S-31

          
            

          

        

        
           

        

      

    

    

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

     

    (b)           Changes in
GAAP.  If at any time any change in GAAP would affect the
computation of any financial ratio or requirement set forth in any Loan
Document, and either the Company or the Required Lenders shall so request, the
Administrative Agent, the Lenders and the Company shall negotiate in good faith
to amend such ratio or requirement to preserve the original intent thereof in
light of such change in GAAP (subject to the approval of the Required Lenders);
provided that, until so
amended, (i) such ratio or requirement shall continue to be computed in
accordance with GAAP prior to such change therein and (ii) the Company
shall provide to the Administrative Agent and the Lenders financial statements
and other documents required under this Agreement or as reasonably requested
hereunder setting forth a reconciliation between calculations of such ratio or
requirement made before and after giving effect to such change in
GAAP.

     

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

     

    1.05.           Exchange Rates; Currency
Equivalents.

     

    (a)           The
Administrative Agent or the L/C Issuer, as applicable, shall determine the Spot
Rates as of each Revaluation Date to be used for calculating Dollar Equivalent
amounts of Credit Extensions and Outstanding Amounts denominated in Alternative
Currencies.  Such Spot Rates shall become effective as of such
Revaluation Date and shall be the Spot Rates employed in converting any amounts
between the applicable currencies until the next Revaluation Date to
occur.  Except for purposes of financial statements delivered by Loan
Parties hereunder or calculating financial covenants hereunder or except as
otherwise provided herein, the applicable amount of any currency (other than
Dollars) for purposes of the Loan Documents shall be such Dollar Equivalent
amount as so determined by the Administrative Agent or the L/C Issuer, as
applicable.

     

    (b)           Wherever
in this Agreement in connection with a Committed Borrowing, conversion,
continuation or prepayment of a Eurocurrency Rate Loan or the issuance,
amendment or extension of a Letter of Credit, an amount, such as a required
minimum or multiple amount, is expressed in Dollars, but such Committed
Borrowing, Eurocurrency Rate Loan or Letter of Credit is denominated in an
Alternative Currency, such amount shall be the relevant Alternative Currency
Equivalent of such Dollar amount (rounded to the nearest unit of such
Alternative Currency, with 0.5 of a unit being rounded upward), as determined by
the Administrative Agent or the L/C Issuer, as the case may be.

     

    

    
      
        
           

        

        
          S-32

          
            

          

        

        
           

        

      

    

    

    1.06.           Additional
Alternative Currencies.

     

    (a)           The
Company may from time to time request that Eurocurrency Rate Loans be made
and/or Letters of Credit be issued in a currency other than those specifically
listed in the definition of “Alternative Currency;” provided that such
requested currency is a lawful currency (other than Dollars) that is readily
available and freely transferable and convertible into Dollars.  In
the case of any such request with respect to the making of Eurocurrency Rate
Loans, such request shall be subject to the approval of the Administrative Agent
and the Lenders; and in the case of any such request with respect to the
issuance of Letters of Credit, such request shall be subject to the approval of
the Administrative Agent and the L/C Issuer.

     

    (b)           Any
such request shall be made to the Administrative Agent not later than 11:00
a.m., 20 Business Days prior to the date of the desired Credit Extension (or
such other time or date as may be agreed by the Administrative Agent and, in the
case of any such request pertaining to Letters of Credit, the L/C Issuer, in its
or their sole discretion).  In the case of any such request pertaining
to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each
Lender thereof; and in the case of any such request pertaining to Letters of
Credit, the Administrative Agent shall promptly notify the L/C Issuer
thereof.  Each Lender (in the case of any such request pertaining to
Eurocurrency Rate Loans) or the L/C Issuer (in the case of a request pertaining
to Letters of Credit) shall notify the Administrative Agent, not later than
11:00 a.m., ten Business Days after receipt of such request whether it consents,
in its sole discretion, to the making of Eurocurrency Rate Loans or the issuance
of Letters of Credit, as the case may be, in such requested
currency.

     

    (c)           Any
failure by a Lender or the L/C Issuer, as the case may be, to respond to such
request within the time period specified in the preceding sentence shall be
deemed to be a refusal by such Lender or the L/C Issuer, as the case may be, to
permit Eurocurrency Rate Loans to be made or Letters of Credit to be issued in
such requested currency.  If the Administrative Agent and all the
Lenders consent to making Eurocurrency Rate Loans in such requested currency,
the Administrative Agent shall so notify the Company and such currency shall
thereupon be deemed for all purposes to be an Alternative Currency hereunder for
purposes of any Committed Borrowings of Eurocurrency Rate Loans; and if the
Administrative Agent and the L/C Issuer consent to the issuance of Letters of
Credit in such requested currency, the Administrative Agent shall so notify the
Company and such currency shall thereupon be deemed for all purposes to be an
Alternative Currency hereunder for purposes of any Letter of Credit issuances.
If the Administrative Agent shall fail to obtain consent to any request for an
additional currency under this Section 1.06, the
Administrative Agent shall promptly so notify the Company.  Any
specified currency of an Existing Letter of Credit that is neither Dollars nor
one of the Alternative Currencies specifically listed in the definition of
“Alternative Currency” shall be deemed an Alternative Currency with respect to
such Existing Letter of Credit only.

     

    1.07.           Change of
Currency.

     

    (a)           Each
obligation of the Borrowers to make a payment denominated in the national
currency unit of any member state of the European Union that adopts the Euro as
its lawful currency after the Closing Date shall be redenominated into Euro at
the time of such adoption (in accordance with the EMU
Legislation).  If, in relation to the currency of any such member
state,

     

    

    
      
        
           

        

        
          S-33

          
            

          

        

        
           

        

      

    

    

    the basis
of accrual of interest expressed in this Agreement in respect of that currency
shall be inconsistent with any convention or practice in the London interbank
market for the basis of accrual of interest in respect of the Euro, such
expressed basis shall be replaced by such convention or practice with effect
from the date on which such member state adopts the Euro as its lawful currency;
provided that
if any Committed Borrowing in the currency of such member state is outstanding
immediately prior to such date, such replacement shall take effect, with respect
to such Committed Borrowing, at the end of the then current Interest
Period.

     

    (b)           Each
provision of this Agreement shall be subject to such reasonable changes of
construction as the Administrative Agent may from time to time specify to be
appropriate to reflect the adoption of the Euro by any member state of the
European Union and any relevant market conventions or practices relating to the
Euro.

     

    (c)           Each
provision of this Agreement also shall be subject to such reasonable changes of
construction as the Administrative Agent may from time to time specify to be
appropriate to reflect a change in currency of any other country and any
relevant market conventions or practices relating to the change in
currency.

     

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

     

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

     

    ARTICLE
II.

     

    THE
COMMITMENTS AND CREDIT EXTENSIONS

     

    2.01.           Committed Loans.

     

    (a)           Subject
to the terms and conditions set forth herein, each Lender severally agrees to
make loans (each such loan, a “Committed Loan”) to
the Borrowers in Dollars or in one or more Alternative Currencies from time to
time, on any Business Day during the Availability Period, in an aggregate amount
not to exceed at any time outstanding the amount of such Lender’s Commitment;
provided, however, that after
giving effect to any Committed Borrowing, (i) the Total Outstandings shall not
exceed the Aggregate Commitments, (ii) the aggregate Outstanding Amount of the
Committed Loans of any Lender, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall
not exceed such Lender’s Commitment, (iii) the aggregate Outstanding Amount of
all Committed Loans denominated in Alternative Currencies shall not exceed the
Alternative Currency Sublimit and (iv) the sum of the aggregate Outstanding
Amount of all Committed Loans made to Foreign Borrowers and the

     

    

    
      
        
           

        

        
          S-34

          
            

          

        

        
           

        

      

    

    

    aggregate
Outstanding Amount of L/C Obligations of the Foreign Borrowers shall not exceed
the Foreign Borrower Sublimit.  Within the limits of each Lender’s
Commitment, and subject to the other terms and conditions hereof, the Borrowers
may borrow under this Section 2.01, prepay
under Section
2.05, and reborrow under this Section
2.01.  Committed Loans may be Base Rate Loans or Eurocurrency
Rate Loans, as further provided herein.

     

    (b)           [Intentionally
Omitted].

     

    2.02.           Borrowings, Conversions and
Continuations of Committed Loans.

     

    (a)           Each
Committed Borrowing, each conversion of Committed Loans from one Type to the
other, and each continuation of Eurocurrency Rate Loans shall be made upon the
Company’s irrevocable notice to the Administrative Agent, which may be given by
telephone.  Each such notice must be received by the Administrative
Agent not later than 11:00 a.m. (i) three Business Days prior to the
requested date of any Borrowing of, conversion to or continuation of
Eurocurrency Rate Loans denominated in Dollars or of any conversion of
Eurocurrency Rate Loans denominated in Dollars to Base Rate Committed Loans,
(ii) four Business Days (or five Business Days in the case of a Special
Notice Currency) prior
to the requested date of any Borrowing or continuation of Eurocurrency Rate
Loans denominated in Alternative Currencies, and (iii) on the requested
date of any Borrowing of Base Rate Committed Loans.  Each telephonic
notice by the Company pursuant to this Section 2.02(a) must
be confirmed promptly by delivery to the Administrative Agent of a written
Committed Loan Notice, appropriately completed and signed by a Responsible
Officer of the Company.  Each Borrowing of, conversion to or
continuation of Eurocurrency Rate Loans shall be in a principal amount of
$2,000,000 or a whole multiple of $500,000 in excess thereof.  Except
as provided in Sections 2.03(c) and
2.04(c), each
Committed Borrowing of or conversion to Base Rate Committed Loans shall be in a
principal amount of $500,000 or a whole multiple of $100,000 in excess
thereof.  Each Committed Loan Notice (whether telephonic or written)
shall specify (i) whether the Company is requesting a Committed Borrowing,
a conversion of Committed Loans from one Type to the other, or a continuation of
Eurocurrency Rate Loans, (ii) the requested date of the Borrowing,
conversion or continuation, as the case may be (which shall be a Business Day),
(iii) the principal amount of Committed Loans to be borrowed, converted or
continued, (iv) the Type of Committed Loans to be borrowed or to which
existing Committed Loans are to be converted, (v) if applicable, the
duration of the Interest Period with respect thereto, (vi) the currency of
the Committed Loans to be borrowed, and (vii) if applicable, the Designated
Borrower.  If the Company fails to specify a currency in a Committed
Loan Notice requesting a Borrowing, then the Committed Loans so requested shall
be made in Dollars.  If the Company fails to specify a Type of
Committed Loan in a Committed Loan Notice or if the Company fails to give a
timely notice requesting a conversion or continuation, then the applicable
Committed Loans shall be made as, or converted to, Base Rate Loans; provided, however, that in the
case of a failure to timely request a continuation of Committed Loans
denominated in an Alternative Currency, such Loans shall be continued as
Eurocurrency Rate Loans in their original currency with an Interest Period of
one month.  Any automatic conversion to Base Rate Loans shall be
effective as of the last day of the Interest Period then in effect with respect
to the applicable Eurocurrency Rate Loans.  If the Company requests a
Borrowing of, conversion to, or continuation of Eurocurrency Rate Loans in any
such Committed Loan Notice, but fails to specify an Interest Period, it will be
deemed to have specified an Interest Period of one month.  No
Committed Loan may be

     

    

    
      
        
           

        

        
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    converted
into or continued as a Committed Loan denominated in a different currency, but
instead must be prepaid in the original currency of such Committed Loan and
reborrowed in the other currency.

     

    (b)           Following
receipt of a Committed Loan Notice, the Administrative Agent shall promptly
notify each Lender of the amount (and currency) of its Applicable Percentage of
the applicable Committed Loans, and if no timely notice of a conversion or
continuation is provided by the Company, the Administrative Agent shall notify
each Lender of the details of any automatic conversion to Base Rate Loans or
continuation of Committed Loans denominated in a currency other than Dollars, in
each case as described in the preceding subsection.  In the case of a
Committed Borrowing, each Lender shall make the amount of its Committed Loan
available to the Administrative Agent in Same Day Funds at the Administrative
Agent’s Office for the applicable currency not later than 1:00 p.m., in the case
of any Committed Loan denominated in Dollars, and not later than the Applicable
Time specified by the Administrative Agent in the case of any Committed Loan in
an Alternative Currency, in each case on the Business Day specified in the
applicable Committed Loan Notice.  Upon satisfaction of the applicable
conditions set forth in Section 4.02 (and, if
such Borrowing is the initial Credit Extension, Section 4.01), the
Administrative Agent shall make all funds so received available to the Company
or the other applicable Borrower in like funds as received by the Administrative
Agent either by (i) crediting the account of such Borrower on the books of
Bank of America with the amount of such funds or (ii) wire transfer of such
funds, in each case in accordance with instructions provided to (and reasonably
acceptable to) the Administrative Agent by the Company; provided, however, that if, on
the date the Committed Loan Notice with respect to such Borrowing denominated in
Dollars is given by the Company, there are L/C Borrowings outstanding, then the
proceeds of such Borrowing, first, shall be
applied to the payment in full of any such L/C Borrowings, and, second, shall be made
available to the applicable Borrower as provided above.

     

    (c)           Except
as otherwise provided herein, a Eurocurrency Rate Loan may be continued or
converted only on the last day of an Interest Period for such Eurocurrency Rate
Loan.  During the existence of a Default, no Loans may be requested
as, converted to or continued as Eurocurrency Rate Loans (whether in Dollars or
any Alternative Currency) without the consent of the Required Lenders, and the
Required Lenders may demand that any or all of the then outstanding Eurocurrency
Rate Loans denominated in an Alternative Currency be prepaid, or redenominated
into Dollars in the amount of the Dollar Equivalent thereof, on the last day of
the then current Interest Period with respect thereto.

     

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

     

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

     

    

    
      
        
           

        

        
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    there
shall be not more than one (1) Interest Period comprised of seven or fourteen
days at any time.

     

    2.03.           Letters
of Credit.

     

    (a)           The Letter of Credit
Commitment.

     

    (i)           Subject
to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in
reliance upon the agreements of the Lenders set forth in this Section 2.03, (1)
from time to time on any Business Day during the period from the Closing Date
until the Letter of Credit Expiration Date, to issue Letters of Credit
denominated in Dollars or in one or more Alternative Currencies for the account
of the Company or its Subsidiaries, and to amend or extend Letters of Credit
previously issued by it, in accordance with subsection (b) below, and (2) to
honor drawings under the Letters of Credit; and (B) the Lenders severally agree
to participate in Letters of Credit issued for the account of the Company or its
Subsidiaries and any drawings thereunder; provided that after
giving effect to any L/C Credit Extension with respect to any Letter of Credit,
(v) the Total Outstandings shall not exceed the Aggregate Commitments, (w) the
aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall
not exceed such Lender’s Commitment, (x) the Outstanding Amount of the L/C
Obligations shall not exceed the Letter of Credit Sublimit and (y) the sum of
the aggregate Outstanding Amount of all Committed Loans made to Foreign
Borrowers and the aggregate Outstanding Amount of the L/C Obligations of the
Foreign Borrowers shall not exceed the Foreign Borrower Sublimit. Each request
by the Company for the issuance or amendment of a Letter of Credit shall be
deemed to be a representation by the Company that the L/C Credit Extension so
requested complies with the conditions set forth in the proviso to the preceding
sentence.  Within the foregoing limits, and subject to the terms and
conditions hereof, the Company’s ability to obtain Letters of Credit shall be
fully revolving, and accordingly the Company may, during the foregoing period,
obtain Letters of Credit to replace Letters of Credit that have expired or that
have been drawn upon and reimbursed.  All Existing Letters of Credit
shall be deemed to have been issued pursuant hereto, and from and after the
Closing Date shall be subject to and governed by the terms of and conditions
hereof.

     

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

     

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

     

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

     

    

    
      
        
           

        

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

     

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

     

    (B)           the
issuance of such Letter of Credit would violate one or more policies of the L/C
Issuer applicable to letters of credit generally;

     

    (C)           such
Letter of Credit is to be denominated in a currency other than Dollars or an
Alternative Currency;

     

    (D)           such
Letter of Credit contains any provisions for automatic reinstatement of the
stated amount after any drawing thereunder;

     

    (E)           any
Lender is at such time an Impacted Lender, unless the L/C Issuer has entered
into arrangements satisfactory to the L/C Issuer with the Borrowers and/or such
Impacted Lender to eliminate such L/C Issuer’s risk with respect to such
Impacted Lender; or

     

    (F)           the
L/C Issuer does not as of the issuance date of such requested Letter of Credit
issue Letters of Credit in the requested currency.

     

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

     

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

     

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

     

    

    
      
        
           

        

        
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    Agent” as
used in Article
IX included the L/C Issuer with respect to such acts or omissions, and
(B) as additionally provided herein with respect to the L/C Issuer.

     

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

     

    (i)           Each
Letter of Credit shall be issued or amended, as the case may be, upon the
request of the Company delivered to the L/C Issuer (with a copy to the
Administrative Agent) in the form of a Letter of Credit Application,
appropriately completed and signed by a Responsible Officer of the
Company.  Such Letter of Credit Application must be received by the
L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least two
Business Days (or such later date and time as the Administrative Agent and the
L/C Issuer may agree in a particular instance in their sole discretion) prior to
the proposed issuance date or date of amendment, as the case may
be.  In the case of a request for an initial issuance of a Letter of
Credit, such Letter of Credit Application shall specify in form and detail
satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested
Letter of Credit (which shall be a Business Day); (B) the amount and currency
thereof; (C) the expiry date thereof; (D) the name and address of the
beneficiary thereof; (E) the documents to be presented by such beneficiary in
case of any drawing thereunder; (F) the full text of any certificate to be
presented by such beneficiary in case of any drawing thereunder; and (G) such
other matters as the L/C Issuer may require.  In the case of a request
for an amendment of any outstanding Letter of Credit, such Letter of Credit
Application shall specify in form and detail satisfactory to the L/C Issuer (A)
the Letter of Credit to be amended; (B) the proposed date of amendment thereof
(which shall be a Business Day); (C) the nature of the proposed amendment; and
(D) such other matters as the L/C Issuer may require.  Additionally,
the Company shall furnish to the L/C Issuer and the Administrative
Agent such other documents and information pertaining to such requested
Letter of Credit issuance or amendment, including any Issuer Documents, as the
L/C Issuer or the Administrative Agent may require.

     

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

     

    

    
      
        
           

        

        
          S-39

          
            

          

        

        
           

        

      

    

    

    (iii)           If
the Company so requests in any applicable Letter of Credit Application, the L/C
Issuer may, in its sole and absolute discretion, agree to issue a Letter of
Credit that has automatic extension provisions (each, an “Auto-Extension Letter of
Credit”); provided that any
such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any
such extension at least once in each twelve-month period (commencing with the
date of issuance of such Letter of Credit) by giving 30-days’ prior notice to
the beneficiary thereof (the “Non-Extension Notice
Date”).  Unless otherwise directed by the L/C Issuer, the
Company shall not be required to make a specific request to the L/C Issuer for
any such extension.  Once an Auto-Extension Letter of Credit has been
issued, the Lenders shall be deemed to have authorized (but may not require) the
L/C Issuer to permit the extension of such Letter of Credit at any time to an
expiry date not later than the Letter of Credit Expiration Date; provided, however, that the L/C
Issuer shall not permit any such extension if (A) the L/C Issuer has determined
that it would not be permitted at such time to issue such Letter of Credit in
its revised form (as extended) under the terms hereof (by reason of the
provisions of clause (ii) of Section 2.03(a) or
otherwise), or (B) it has received notice (which may be by telephone or in
writing) on or before the day that is five Business Days before the
Non-Extension Notice Date (1) from the Administrative Agent that the Required
Lenders have elected not to permit such extension or (2) from the Administrative
Agent, any Lender or the Company that one or more of the applicable conditions
specified in Section
4.02 is not then satisfied, and in each such case directing the L/C
Issuer not to permit such extension.

     

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

     

    (c)           Drawings and Reimbursements;
Funding of Participations.

     

    (i)           Upon
receipt from the beneficiary of any Letter of Credit of any notice of a drawing
under such Letter of Credit, the L/C Issuer shall notify the Company and the
Administrative Agent thereof.  In the case of a Letter of Credit
denominated in an Alternative Currency, the Company shall reimburse the L/C
Issuer in such Alternative Currency, unless (A) the L/C Issuer (at its option)
shall have specified in such notice that it will require reimbursement in
Dollars, or (B) in the absence of any such requirement for reimbursement in
Dollars, the Company shall have notified the L/C Issuer promptly following
receipt of the notice of drawing that the Company will reimburse the L/C Issuer
in Dollars.  In the case of any such reimbursement in Dollars of a
drawing under a Letter of Credit denominated in an Alternative Currency, the L/C
Issuer shall notify the Company of the Dollar Equivalent of the amount of the
drawing promptly following the determination thereof.  Not later than
11:00 a.m. on the date of any payment by the L/C Issuer under a Letter of Credit
to be reimbursed in Dollars, or the Applicable Time on the date of any payment
by the L/C Issuer under a Letter of Credit to be reimbursed in an Alternative
Currency (each such date, an “Honor Date”), the
Company shall reimburse the L/C Issuer through the Administrative Agent in an
amount equal to the amount of such drawing and in the applicable
currency.  If the Company fails to so reimburse the L/C Issuer by such
time, the Administrative Agent shall promptly notify each Lender of

     

    

    
      
        
           

        

        
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    the Honor
Date, the amount of the unreimbursed drawing (expressed in Dollars in the amount
of the Dollar Equivalent thereof in the case of a Letter of Credit denominated
in an Alternative Currency) (the “Unreimbursed
Amount”), and the amount of such Lender’s Applicable Percentage
thereof.  In such event, the Company shall be deemed to have requested
a Committed Borrowing of Base Rate Loans to be disbursed on the Honor Date in an
amount equal to the Unreimbursed Amount, without regard to the minimum and
multiples specified in Section 2.02 for the
principal amount of Base Rate Loans, but subject to the amount of the unutilized
portion of the Aggregate Commitments and the conditions set forth in Section 4.02 (other
than the delivery of a Committed Loan Notice).  Any notice given by
the L/C Issuer or the Administrative Agent pursuant to this Section 2.03(c)(i)
may be given by telephone if immediately confirmed in writing; provided that the
lack of such an immediate confirmation shall not affect the conclusiveness or
binding effect of such notice.

     

    (ii)           Each
Lender shall upon any notice pursuant to Section 2.03(c)(i)
make funds available to the Administrative Agent for the account of the L/C
Issuer, in Dollars, at the Administrative Agent’s Office for Dollar-denominated
payments in an amount equal to its Applicable Percentage of the Unreimbursed
Amount not later than 1:00 p.m. on the Business Day specified in such notice by
the Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii),
each Lender that so makes funds available shall be deemed to have made a Base
Rate Committed Loan to the Company in such amount.  The Administrative
Agent shall remit the funds so received to the L/C Issuer in
Dollars.

     

    (iii)           With
respect to any Unreimbursed Amount that is not fully refinanced by a Committed
Borrowing of Base Rate Loans because the conditions set forth in Section 4.02 cannot
be satisfied or for any other reason, the Company shall be deemed to have
incurred from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed
Amount that is not so refinanced, which L/C Borrowing shall be due and payable
on demand (together with interest) and shall bear interest at the Default
Rate.  In such event, each Lender’s payment to the Administrative
Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(ii)
shall be deemed payment in respect of its participation in such L/C Borrowing
and shall constitute an L/C Advance from such Lender in satisfaction of its
participation obligation under this Section
2.03.

     

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

     

    (v)           Each
Lender’s obligation to make Committed Loans or L/C Advances to reimburse the L/C
Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c),
shall be absolute and unconditional and shall not be affected by any
circumstance, including (A) any setoff, counterclaim, recoupment, defense or
other right which such Lender may have against the L/C Issuer, the Company, any
Subsidiary or any other Person for any reason whatsoever; (B) the occurrence or
continuance of a Default, or (C) any other occurrence, event or condition,
whether or not similar to any of the

     

    

    
      
        
           

        

        
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    foregoing;
provided, however, that each
Lender’s obligation to make Committed Loans pursuant to this Section 2.03(c) is
subject to the conditions set forth in Section 4.02 (other
than delivery by the Company of a Committed Loan Notice).  No such
making of an L/C Advance shall relieve or otherwise impair the obligation of the
Company to reimburse the L/C Issuer for the amount of any payment made by the
L/C Issuer under any Letter of Credit, together with interest as provided
herein.

     

    (vi)           If
any Lender fails to make available to the Administrative Agent for the account
of the L/C Issuer any amount required to be paid by such Lender pursuant to the
foregoing provisions of this Section 2.03(c) by
the time specified in Section 2.03(c)(ii),
the L/C Issuer shall be entitled to recover from such Lender (acting through the
Administrative Agent), on demand, such amount with interest thereon for the
period from the date such payment is required to the date on which such payment
is immediately available to the L/C Issuer at a rate per annum equal to the
applicable Overnight Rate from time to time in effect, plus any administrative,
processing or similar fees customarily charged by the L/C Issuer in connection
with the foregoing.  If such Lender pays such amount (with interest
and fees as aforesaid), the amount so paid shall constitute such Lender’s
Committed Loan included in the relevant Committed Borrowing or L/C Advance in
respect of the relevant L/C Borrowing, as the case may be.  A
certificate of the L/C Issuer submitted to any Lender (through the
Administrative Agent) with respect to any amounts owing under this clause (vi)
shall be conclusive absent manifest error.

     

    (d)           Repayment of
Participations.

     

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

     

    (ii)           If
any payment received by the Administrative Agent for the account of the L/C
Issuer pursuant to Section 2.03(c)(i) is
required to be returned under any of the circumstances described in Section 10.05
(including pursuant to any settlement entered into by the L/C Issuer in its
discretion), each Lender shall pay to the Administrative Agent for the account
of the L/C Issuer its Applicable Percentage thereof on demand of the
Administrative Agent, plus interest thereon from the date of such demand to the
date such amount is returned by such Lender, at a rate per annum equal to the
applicable Overnight Rate from time to time in effect.  The
obligations of the Lenders under this clause shall survive the payment in full
of the Obligations and the termination of this Agreement.

     

    (e)           Obligations
Absolute. The obligation of the
Company to reimburse the L/C Issuer for each drawing under each Letter of Credit
and to repay each L/C Borrowing shall be

     

    

    
      
        
           

        

        
          S-42

          
            

          

        

        
           

        

      

    

    

    absolute,
unconditional and irrevocable, and shall be paid strictly in accordance with the
terms of this Agreement under all circumstances, including the
following:

     

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

     

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

     

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

     

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

     

    (v)           any
adverse change in the relevant exchange rates or in the availability of the
relevant Alternative Currency to the Company or any Subsidiary or in the
relevant currency markets generally; or

     

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

     

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

     

    (f)           Role of L/C
Issuer. Each
Lender and the Company agree that, in paying any drawing under a Letter of
Credit, the L/C Issuer shall not have any responsibility to obtain any document
(other than any sight draft, certificates and documents expressly required by
the Letter of Credit) or to ascertain or inquire as to the validity or accuracy
of any such document or the authority of the Person executing or delivering any
such document.  None of the L/C Issuer, the Administrative Agent, any
of their respective Related Parties nor any correspondent,
participant

     

    

    
      
        
           

        

        
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    or
assignee of the L/C Issuer shall be liable to any Lender for (i) any action
taken or omitted in connection herewith at the request or with the approval of
the Lenders or the Required Lenders, as applicable; (ii) any action taken or
omitted in the absence of gross negligence or willful misconduct; or (iii) the
due execution, effectiveness, validity or enforceability of any document or
instrument related to any Letter of Credit or Issuer Document.  The
Company hereby assumes all risks of the acts or omissions of any beneficiary or
transferee with respect to its use of any Letter of Credit; provided, however, that this
assumption is not intended to, and shall not, preclude the Company’s pursuing
such rights and remedies as it may have against the beneficiary or transferee at
law or under any other agreement.  None of the L/C Issuer, the
Administrative Agent, any of their respective Related Parties nor any
correspondent, participant or assignee of the L/C Issuer shall be liable or
responsible for any of the matters described in clauses (i) through (vi) of
Section
2.03(e); provided, however, that
anything in such clauses to the contrary notwithstanding, the Company may have a
claim against the L/C Issuer, and the L/C Issuer may be liable to the Company,
to the extent, but only to the extent, of any direct, as opposed to
consequential or exemplary, damages suffered by the Company which the Company
proves were caused by the L/C Issuer’s willful misconduct or gross negligence or
the L/C Issuer’s willful failure to pay under any Letter of Credit after the
presentation to it by the beneficiary of a sight draft and certificate(s)
strictly complying with the terms and conditions of a Letter of Credit.  In furtherance and not
in limitation of the foregoing, the L/C Issuer may accept documents that appear
on their face to be in order, without responsibility for further investigation,
regardless of any notice or information to the contrary, and, in the absence of
the L/C Issuer’s gross negligence or willful misconduct, the L/C Issuer shall
not be responsible for the validity or sufficiency of any instrument
transferring or assigning or purporting to transfer or assign a Letter of Credit
or the rights or benefits thereunder or proceeds thereof, in whole or in part,
which may prove to be invalid or ineffective for any reason.

     

    (g)           Cash
Collateral.  (1) Upon the request of the Administrative Agent,
(A) if the L/C Issuer has honored any full or partial drawing request under any
Letter of Credit and such drawing has resulted in an L/C Borrowing, or (B) if,
as of the Letter of Credit Expiration Date, any L/C Obligation for any reason
remains outstanding, the Company shall, in each case, immediately Cash
Collateralize the then Outstanding Amount of all L/C Obligations in an amount
equal to 103% of the Outstanding Amount thereof.

     

    (ii)           In
addition, if the Administrative Agent notifies the Company at any time that the
Outstanding Amount of all L/C Obligations at such time exceeds 105% of the
Letter of Credit Sublimit then in effect, then, within two Business Days after
receipt of such notice, the Company shall Cash Collateralize the L/C Obligations
in an amount equal to the amount by which the Outstanding Amount of all L/C
Obligations exceeds the Letter of Credit Sublimit.

     

    (iii)           [Intentionally
Omitted].

     

    (iv)           Sections 2.05 and
8.02(c) set
forth certain additional requirements to deliver Cash Collateral
hereunder.  For purposes of this Section 2.03, Section 2.05 and Section 8.02(c),
“Cash
Collateralize” means to pledge and deposit with or deliver to the
Administrative Agent, for the benefit of the L/C Issuer and the Lenders, as
collateral for the L/C Obligations, cash or deposit account balances pursuant to
documentation in form

     

    

    
      
        
           

        

        
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    and
substance satisfactory to the Administrative Agent and the L/C Issuer (which
documents are hereby consented to by the Lenders).  Derivatives of
such term have corresponding meanings.  The Company hereby grants to
the Administrative Agent, for the benefit of the L/C Issuer and the Lenders, a
security interest in all such cash, deposit accounts and all balances therein
and all proceeds of the foregoing.  Cash Collateral shall be
maintained in blocked, non-interest bearing deposit accounts at Bank of
America.

     

    (h)           Applicability of ISP and
UCP.  Unless
otherwise expressly agreed by the L/C Issuer and the Company when a Letter of
Credit is issued (including any such agreement applicable to an Existing Letter
of Credit), the rules of the ISP shall apply to each Letter of
Credit.

     

    (i)           Letter of Credit
Fees.  The Company shall pay to the Administrative Agent for
the account of each Lender in accordance with its Applicable Percentage, in
Dollars, a Letter of Credit fee (the “Letter of Credit
Fee”) for
each Letter of Credit equal to the Applicable Rate times the Dollar
Equivalent of the daily amount available to be drawn under such Letter of
Credit.  For purposes of computing the daily amount available to be
drawn under any Letter of Credit, the amount of such Letter of Credit shall be
determined in accordance with Section
1.09.  Letter of Credit Fees shall be (i) due and payable in
Dollars on the fifth (5th) day of each of January, April, July and October,
commencing with the first such date to occur after the issuance of such Letter
of Credit, on the Letter of Credit Expiration Date and thereafter on demand and
(ii) computed on a quarterly basis in arrears.  If there is any change
in the Applicable Rate during any quarter, the daily amount available to be
drawn under each Letter of Credit shall be computed and multiplied by the
Applicable Rate separately for each period during such quarter that such
Applicable Rate was in effect.  Notwithstanding anything to the
contrary contained herein, upon the request of the Required Lenders, while any
Event of Default exists, all Letter of Credit Fees shall accrue at the Default
Rate.

     

    (j)           Fronting Fee and Documentary
and Processing Charges Payable to L/C Issuer. The Company shall pay
directly to the L/C Issuer for its own account, in Dollars, a fronting fee with respect to each
Letter of Credit, at the rate per annum specified in the Fee Letter, computed on
the Dollar Equivalent of the daily amount available to be drawn under such
Letter of Credit on a quarterly basis in arrears.  Such fronting fee
shall be due and payable in Dollars on the fifth (5th) day of each of January,
April, July and October in respect of the most recently-ended quarterly period
(or portion thereof, in the case of the first payment), commencing with the
first such date to occur after the issuance of such Letter of Credit, on the
Letter of Credit Expiration Date and thereafter on demand.  For
purposes of computing the daily amount available to be drawn under any Letter of
Credit, the amount of such Letter of Credit shall be determined in accordance
with Section
1.09.  In addition, the Company shall pay directly to the L/C
Issuer for its own account, in Dollars, the customary issuance, presentation,
amendment and other processing fees, and other standard costs and charges, of
the L/C Issuer relating to letters of credit as from time to time in
effect.  Such customary fees and standard costs and charges are due
and payable on demand and are nonrefundable.

     

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

     

    

    
      
        
           

        

        
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    (l)           Letters of Credit Issued for
Subsidiaries; Designated Borrowers.

     

    (i)           Notwithstanding
that a Letter of Credit issued or outstanding hereunder is in support of any
obligations of, or is for the account of, a Subsidiary, the Company shall be
obligated to reimburse the L/C Issuer hereunder for any and all drawings under
such Letter of Credit.  The Company hereby acknowledges that the
issuance of Letters of Credit for the account of Subsidiaries inures to the
benefit of the Company, and that the Company’s business derives substantial
benefits from the businesses of such Subsidiaries.

     

    (ii)           Notwithstanding
anything contained in this Section 2.03 to the
contrary, in the event that a Letter of Credit is issued to a Designated
Borrower or on account of a Subsidiary of a Designated Borrower, all of the
Obligations under this Section with respect to such Letter of Credit (i.e.,
reimbursement obligations, cash collateral obligations, letter of credit fees
and fronting fees) shall be direct obligations of such Designated
Borrower.

     

    2.04.           Swing Line Loans.

     

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

     

    (b)           Borrowing
Procedures.  Each Swing Line Borrowing shall be made upon the
Company’s irrevocable notice to the Swing Line Lender and, provided that the
Swing Line Lender is not the same entity as the Administrative Agent, the
Administrative Agent, which may be given by telephone. Each such notice must be
received by the Swing Line Lender and the Administrative Agent not later than
1:00 p.m. on the requested borrowing date, and shall specify (i) the amount to
be borrowed, which shall be a minimum of $100,000, and (ii) the
requested

     

    

    
      
        
           

        

        
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    borrowing
date, which shall be a Business Day.  Each such telephonic notice must
be confirmed promptly by delivery to the Swing Line Lender and the
Administrative Agent of a written Swing Line Loan Notice, appropriately
completed and signed by a Responsible Officer of the
Company.  Promptly after receipt by the Swing Line Lender of any
telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the
Administrative Agent (by telephone or in writing) that the Administrative Agent
has also received such Swing Line Loan Notice and, if not, the Swing Line Lender
will notify the Administrative Agent (by telephone or in writing) of the
contents thereof.  Unless the Swing Line Lender has received notice
(by telephone or in writing) from the Administrative Agent (including at the
request of any Lender) prior to 2:00 p.m. on the date of the proposed Swing Line
Borrowing (A) directing the Swing Line Lender not to make such Swing Line Loan
as a result of the limitations set forth in the first proviso to the first
sentence of Section
2.04(a), or (B) that one or more of the applicable conditions specified
in Article IV
is not then satisfied, then, subject to the terms and conditions hereof, the
Swing Line Lender may, in its absolute and sole discretion, not later than 3:00
p.m. on the borrowing date specified in such Swing Line Loan Notice, make the
amount of its Swing Line Loan available to the Company at its office by
crediting the account of the Company on the books of the Swing Line Lender in
Same Day Funds.

     

    (c)           Refinancing of Swing Line
Loans.

     

    (i)           The
Swing Line Lender at any time in its sole and absolute discretion may request,
on behalf of the Company (which hereby irrevocably authorizes the Swing Line
Lender to so request on its behalf), that each Lender make a Base Rate Committed
Loan in an amount equal to such Lender’s Applicable Percentage of the amount of
Swing Line Loans then outstanding.  Such request shall be made in
writing (which written request shall be deemed to be a Committed Loan Notice for
purposes hereof) and in accordance with the requirements of Section 2.02, without
regard to the minimum and multiples specified therein for the principal amount
of Base Rate Loans, but subject to the unutilized portion of the Aggregate
Commitments and the conditions set forth in Section
4.02.  The Swing Line Lender shall furnish the Company with a
copy of the applicable Committed Loan Notice promptly after delivering such
notice to the Administrative Agent.  Each Lender shall make an amount
equal to its Applicable Percentage of the amount specified in such Committed
Loan Notice available to the Administrative Agent in Same Day Funds for the
account of the Swing Line Lender at the Administrative Agent’s Office for
Dollar-denominated payments not later than 1:00 p.m. on the day specified in
such Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii),
each Lender that so makes funds available shall be deemed to have made a Base
Rate Committed Loan to the Company in such amount.  The Administrative
Agent shall remit the funds so received to the Swing Line Lender.

     

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

     

    

    
      
        
           

        

        
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    (iii)           If
any Lender fails to make available to the Administrative Agent for the account
of the Swing Line Lender any amount required to be paid by such Lender pursuant
to the foregoing provisions of this Section 2.04(c) by
the time specified in Section 2.04(c)(i),
the Swing Line Lender shall be entitled to recover from such Lender (acting
through the Administrative Agent), on demand, such amount with interest thereon
for the period from the date such payment is required to the date on which such
payment is immediately available to the Swing Line Lender at a rate per annum
equal to the applicable Overnight Rate from time to time in effect, plus any
administrative, processing or similar fees customarily charged by the Swing Line
Lender in connection with the foregoing.  If such Lender pays such
amount (with interest and fees as aforesaid), the amount so paid shall
constitute such Lender’s Committed Loan included in the relevant Committed
Borrowing or funded participation in the relevant Swing Line Loan, as the case
may be.  A certificate of the Swing Line Lender submitted to any
Lender (through the Administrative Agent) with respect to any amounts owing
under this clause (iii) shall be conclusive absent manifest error.

     

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

     

    (d)           Repayment of
Participations.

     

    (i)           At
any time after any Lender has purchased and funded a risk participation in a
Swing Line Loan, if the Swing Line Lender receives any payment on account of
such Swing Line Loan, the Swing Line Lender will distribute to such Lender its
Applicable Percentage thereof in the same funds as those received by the Swing
Line Lender.

     

    (ii)           If
any payment received by the Swing Line Lender in respect of principal or
interest on any Swing Line Loan is required to be returned by the Swing Line
Lender under any of the circumstances described in Section 10.05
(including pursuant to any settlement entered into by the Swing Line Lender in
its discretion), each Lender shall pay to the Swing Line Lender its Applicable
Percentage thereof on demand of the Administrative Agent, plus interest thereon
from the date of such demand to the date such amount is returned, at a rate per
annum equal to the applicable Overnight Rate.  The Administrative
Agent will make such demand upon the request of the Swing Line
Lender.  The obligations of the Lenders under this clause shall
survive the payment in full of the Obligations and the termination of this
Agreement.

     

    

    
      
        
           

        

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

     

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

     

    2.05.           Prepayments.

     

    (a)           Each
Borrower may, upon notice from the Company to the Administrative Agent, at any
time or from time to time voluntarily prepay Committed Loans in whole or in part
without premium or penalty; provided that
(i) such notice must be received by the Administrative Agent not later than
11:00 a.m. (A) three Business Days prior to any date of prepayment of
Eurocurrency Rate Loans denominated in Dollars, (B) four Business Days (or five,
in the case of prepayment of Loans denominated in Special Notice Currencies)
prior to any date of prepayment of Eurocurrency Rate Loans denominated in
Alternative Currencies, and (C) on the date of prepayment of Base Rate
Committed Loans; (ii) any prepayment of Eurocurrency Rate Loans denominated
in Dollars shall be in a principal amount of $2,000,000 or a whole multiple of
$500,000 in excess thereof; (iii) any prepayment of Eurocurrency Rate Loans
denominated in Alternative Currencies shall be in a minimum principal amount of
$1,000,000 or a whole multiple of $500,000 in excess thereof; and (iv) any
prepayment of Base Rate Committed Loans shall be in a principal amount of
$500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if
less, the entire principal amount thereof then outstanding.  Each such
notice shall specify the date and amount of such prepayment and the Type(s) of
Committed Loans to be prepaid and, if Eurocurrency Rate Loans are to be prepaid,
the Interest Period(s) of such Loans.  The Administrative Agent will
promptly notify each Lender of its receipt of each such notice, and of the
amount of such Lender’s Applicable Percentage of such prepayment.  If
such notice is given by the Company, the applicable Borrower shall make such
prepayment and the payment amount specified in such notice shall be due and
payable on the date specified therein.  Any prepayment of a
Eurocurrency Rate Loan shall be accompanied by all accrued interest on the
amount prepaid, together with any additional amounts required pursuant to Section
3.05.  Each such prepayment shall be applied to the Committed
Loans of the Lenders in accordance with their respective Applicable
Percentages.

     

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

     

    

    
      
        
           

        

        
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    (c)           If
the Administrative Agent notifies the Company at any time that the Total
Outstandings at such time exceed the Aggregate Commitments then in effect, then,
within two Business Days after receipt of such notice, the Borrowers shall
prepay Loans and/or Cash Collateralize the L/C Obligations in an aggregate
amount equal to such excess; provided, however, that,
subject to the provisions of Section 2.03(g), the
Borrowers shall not be required to Cash Collateralize the L/C Obligations
pursuant to this Section 2.05(c)
unless after the prepayment in full of the Loans the Total Outstandings exceed
the Aggregate Commitments then in effect.

     

    (d)           If
the Administrative Agent notifies the Company at any time that the Outstanding
Amount of all Loans denominated in Alternative Currencies at such time exceeds
an amount equal to 105% of the Alternative Currency Sublimit then in effect,
then, within two Business Days after receipt of such notice, the Borrowers shall
prepay Loans in an aggregate amount sufficient to reduce such Outstanding Amount
as of such date of payment to an amount not to
exceed 100% of the Alternative Currency Sublimit then in effect.

     

    (e)           If
the Administrative Agent notifies the Company at any time that the sum of the
Outstanding Amount of all Loans made to Foreign Borrowers at such time and the
Outstanding Amount of all L/C Obligations of the Foreign Borrowers at such time
exceeds an amount equal to 105% of the Foreign Borrower Sublimit then in effect,
then, within two Business Days after receipt of such notice, the Borrowers shall
prepay such Loans and/or the Borrowers shall Cash Collateralize such L/C
Obligations in an aggregate amount sufficient to reduce such Outstanding Amount
as of such date of payment to an amount not to
exceed 100% of the Foreign Borrower Sublimit; provided, however, that,
subject to the provisions of Section 2.03(g), the
Borrowers shall not be required to Cash Collateralize such L/C Obligations
pursuant to this Section 2.05(e)
unless after the prepayment in full of such Loans, such L/C Obligations exceed
the Foreign Borrower Sublimit.

     

    2.06.           Termination
or Reduction of Commitments; Certain Mandatory Prepayments.

     

    (a)           Termination and Reductions
in Commitments.  The Company may, upon notice to the
Administrative Agent, terminate the Aggregate Commitments, or from time to time
permanently reduce the Aggregate Commitments; provided that (i) any
such notice shall be received by the Administrative Agent not later than 11:00
a.m. five Business Days prior to the date of termination or reduction, (ii) any
such partial reduction shall be in an aggregate amount of $5,000,000 or any
whole multiple of $1,000,000 in excess thereof, (iii) the Company shall not
terminate or reduce the Aggregate Commitments if, after giving effect thereto
and to any concurrent prepayments hereunder, the Total Outstandings would exceed
the Aggregate Commitments, and (iv) if, after giving effect to any reduction of
the Aggregate Commitments, the Alternative Currency Sublimit, the Letter of
Credit Sublimit, the Foreign Borrower Sublimit or the Swing Line Sublimit
exceeds the amount of the Aggregate Commitments, such Sublimit shall be
automatically reduced by the amount of such excess.  The
Administrative Agent will promptly notify the Lenders of any such notice of
termination or reduction of the Aggregate Commitments.  Any reduction
of the Aggregate Commitments shall be applied to the Commitment of each Lender
according to its Applicable Percentage.  All fees accrued until
the

     

    

    
      
        
           

        

        
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    effective
date of any termination of the Aggregate Commitments shall be paid on the
effective date of such termination.

     

    (b)           Dispositions.  If
the Company or any Subsidiary makes any Disposition other than Dispositions
permitted by Section
7.05 (other than Section 7.05((h)) the
Loans shall be repaid and the Aggregate Commitments shall be permanently reduced
(provided that the Aggregate Commitments shall not be permanently reduced upon
the repayment of the Loans with proceeds from a Disposition permitted by Section 7.05((h)) in
the amount of the Net Cash Proceeds (determined as of the date of such
Disposition, whether or not such Net Cash Proceeds are then received by the
Company or such Subsidiary) from such Disposition.  Nothing in this
Section 2.06(b)
shall permit any Disposition that is not permitted by Section
7.05.

     

    (c)           Extraordinary
Receipts.  Upon the receipt by any Loan Party or any of its
Subsidiaries of any Extraordinary Receipts, the Loans shall be repaid and
Aggregate Commitments shall be permanently reduced by an amount equal to 100% of
such Extraordinary Receipts, net of any actual expenses incurred in collecting
such Extraordinary Receipts; provided,
that in the case of insurance proceeds received in connection with a Casualty
Event with respect to Property having an aggregate market value less than
$1,500,000 (or such larger amount approved, in writing, by the Administrative
Agent), so long as, at the time of receipt and use of such insurance proceeds,
no Event of Default shall have occurred and be continuing, the Loan Parties
shall be entitled to use such insurance proceeds (in an amount not in excess of
$1,500,000 (or such larger amount approved, in writing, by the Administrative
Agent)) to repair or replace the Property affected by such Casualty Event, provided,
further, that (A) until so used, such insurance proceeds shall be, if so
directed by the Administrative Agent, deposited into a cash collateral account
(and when so deposited such insurance proceeds shall constitute Collateral for
the Obligations then outstanding) or applied to repay the Loans, (B) such
insurance proceeds may be used solely to repair or replace the Property that was
the subject of such Casualty Event with other Property of the same type unless
otherwise agreed, in writing, by the Administrative Agent, (C) such insurance
proceeds must be used and such Property must be repaired or replaced within 180
days after the date of receipt thereof unless otherwise agreed, in writing, by
the Administrative Agent, and (D) upon the occurrence and during the continuance
of an Event of Default or after such 180 day period or any extension thereof
approved, in writing, by the Administrative Agent shall have expired, such
insurance proceeds, if not so used, shall be applied to the prepayment of Loans
and cover for L/C Obligations as provided in this subsection 2.06(c).

     

    (d)           Additional
Indebtedness.  If the Company or any Subsidiary incurs
Indebtedness, other than Indebtedness permitted to be incurred pursuant to Section 7.03, the
Loans shall be repaid and the Aggregate Commitments shall be permanently reduced
by the amount of the Net Cash Proceeds from the incurrence of such
Indebtedness.  Nothing in this Section 2.06(d) shall
permit the incurrence of any Indebtedness that is not permitted by Section
7.03.

     

    (e)           Issuance of Additional
Equity Interests.  Upon the issuance by the Company or any
Subsidiary of any additional Equity Interests, if the Total Leverage Ratio as of
the fiscal quarter most recently then ended, calculated on a pro forma basis
after giving effect to such equity issuance is greater than or equal to 3.25 to
1, the Loans shall be repaid and the Aggregate

     

    

    
      
        
           

        

        
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    Commitments
shall be permanently reduced by an amount equal to 50% of the Net Cash Proceeds
from such issuance.

     

    2.07.           Repayment of
Loans.

     

    (a)           Each
Borrower shall repay to the Lenders on the Maturity Date the aggregate principal
amount of Committed Loans made to such Borrower outstanding on such
date.

     

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

     

    2.08.           Interest.

     

    (a)           Subject
to the provisions of subsection (b) below, (i) each Eurocurrency Rate Loan shall
bear interest on the outstanding principal amount thereof for each Interest
Period at a rate per annum equal to the Eurocurrency Rate for such Interest
Period plus the
Applicable Rate plus (in the case of
a Eurocurrency Rate Loan of any Lender which is lent from a Lending Office in
the United Kingdom or a Participating Member State) the Mandatory Cost; (ii)
each Base Rate Committed Loan shall bear interest on the outstanding principal
amount thereof from the applicable borrowing date at a rate per annum equal to
the Base Rate plus the Applicable
Rate; and (iii) each Swing Line Loan shall bear interest on the outstanding
principal amount thereof from the applicable borrowing date at a rate per annum
equal to the Base Rate plus the Applicable
Rate.

     

    (b)           (2)           If
any amount of principal of any Loan is not paid when due, whether at stated
maturity, by acceleration or otherwise, such amount shall thereafter bear
interest at a fluctuating interest rate per annum at all times equal to the
Default Rate to the fullest extent permitted by applicable Laws.

     

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

     

    (iii)           Upon
the request of the Required Lenders, while any Event of Default exists, the
Borrowers shall pay interest on the principal amount of all outstanding
Obligations hereunder at a fluctuating interest rate per annum at all times
equal to the Default Rate to the fullest extent permitted by applicable
Laws.

     

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

     

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

     

    

    
      
        
           

        

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

     

    (a)           Commitment Fee. The Borrowers shall pay
to the Administrative Agent for the account of each Lender in accordance with
its Applicable Percentage, a commitment fee in Dollars equal to the Applicable
Rate times the
actual daily amount by which the Aggregate Commitments exceed the sum of (i) the
Outstanding Amount of Committed Loans (other than Swing Line Loans) and (ii) the
Outstanding Amount of L/C Obligations.  The commitment fee shall
accrue at all times during the Availability Period, including at any time during
which one or more of the conditions in Article IV is not
met, and shall be due and payable quarterly in arrears on the fifth (5th) day of
each January, April, July and October, or if the fifth (5th) day of such month
is not a Business Day, on the next Business Day thereafter, commencing with the
first such date to occur after the Closing Date, and on the last day of the
Availability Period.  The commitment fee shall be calculated quarterly
in arrears, and if there is any change in the Applicable Rate during any
quarter, the actual daily amount shall be computed and multiplied by the
Applicable Rate separately for each period during such quarter that such
Applicable Rate was in effect.

     

    (b)           Other Fees. (3) The Company shall
pay to Banc of America Securities LLC and the Administrative Agent for their own
respective accounts, in Dollars, fees in the amounts and at the times specified
in the Fee Letter.  Such fees shall be fully earned when paid and
shall not be refundable for any reason whatsoever.

     

    (ii)           The
Company shall pay to the Lenders, in Dollars, such fees as shall have been
separately agreed upon in writing in the amounts and at the times so
specified.  Such fees shall be fully earned when paid and shall not be
refundable for any reason whatsoever.

     

    2.10.           Computation of Interest and
Fees; Retroactive
Adjustments of Applicable Rate.

     

    (a)           All
computations of fees and interest shall be made on the basis of a 360-day year
and actual days elapsed (which results in more fees or interest, as applicable,
being paid than if computed on the basis of a 365-day year), or, in the case of
interest in respect of Committed Loans denominated in Alternative Currencies as
which market practice differs from the foregoing, in accordance with such market
practice.  Interest shall accrue on each Loan for the day on which the
Loan is made, and shall not accrue on a Loan, or any portion thereof, for the
day on which the Loan or such portion is paid, provided that any
Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear
interest for one day.  Each determination by the Administrative Agent
of an interest rate or fee hereunder shall be conclusive and binding for all
purposes, absent manifest error.

     

    (b)           If,
as a result of any restatement of or other adjustment to the financial
statements of the Company or for any other reason, the Company or the Lenders
determine that (i) the Total Leverage Ratio as calculated by the Company as of
any applicable date was inaccurate and (ii) a proper calculation of the Total
Leverage Ratio would have resulted in higher pricing for such period, each
Borrower shall immediately and retroactively be obligated to pay to
the

     

    

    
      
        
           

        

        
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    Administrative
Agent for the account of the applicable Lenders or the L/C Issuer, as the case
may be, promptly on demand by the Administrative Agent (or, after the occurrence
of an actual or deemed entry of an order for relief with respect to any Borrower
under the Bankruptcy Code of the United States, automatically and without
further action by the Administrative Agent, any Lender or the L/C Issuer), an
amount equal to the excess of the amount of interest and fees that should have
been paid for such period over the amount of interest and fees actually paid for
such period.  This paragraph shall not limit the rights of the
Administrative Agent, any Lender or the L/C Issuer, as the case may be, under
Section 2.03(c)(iii), 2.03(i) or 2.08(b) or under
Article
VIII.  The Borrowers’ obligations under this paragraph shall
survive the termination of the Aggregate Commitments and the repayment of all
other Obligations hereunder.

     

    2.11.           Evidence of Debt.

     

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

     

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

     

    2.12.           Payments Generally; Administrative
Agent’s Clawback.

     

    (a)           General.  All
payments to be made by the Borrowers shall be made without condition or
deduction for any counterclaim, defense, recoupment or setoff.  Except
as otherwise expressly provided herein and except with respect to principal of
and interest on Loans denominated in an Alternative Currency, all payments by
the Borrowers hereunder shall be made to the Administrative Agent, for the
account of the respective Lenders to which such payment is owed, at the
applicable Administrative Agent’s Office in Dollars and in Same Day Funds not
later than 2:00 p.m. on the date specified herein.  Except as
otherwise expressly provided herein, all payments by the Borrowers hereunder
with respect to principal and interest on Loans

     

    

    
      
        
           

        

        
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    denominated
in an Alternative Currency shall be made to the Administrative Agent, for the
account of the respective Lenders to which such payment is owed, at the
applicable Administrative Agent’s Office in such Alternative Currency and in
Same Day Funds not later than the Applicable Time specified by the
Administrative Agent on the dates specified herein. Without limiting the
generality of the foregoing, the Administrative Agent may require that any
payments due under this Agreement be made in the United States.  If,
for any reason, any Borrower is prohibited by any Law from making any required
payment hereunder in an Alternative Currency, such Borrower shall make such
payment in Dollars in the Dollar Equivalent of the Alternative Currency payment
amount.  The Administrative Agent will promptly distribute to each
Lender its Applicable Percentage (or other applicable share as provided herein)
of such payment in like funds as received by wire transfer to such Lender’s
Lending Office.  All payments received by the Administrative Agent
(i) after 2:00 p.m., in the case of payments in Dollars, or (ii) after
the Applicable Time specified by the Administrative Agent in the case of
payments in an Alternative Currency, shall in each case be deemed received on
the next succeeding Business Day and any applicable interest or fee shall
continue to accrue.  If any payment to be made by any Borrower shall
come due on a day other than a Business Day, payment shall be made on the next
following Business Day, and such extension of time shall be reflected in
computing interest or fees, as the case may be.

     

    (b)           (4)  Funding by Lenders;
Presumption by Administrative Agent.  Unless the Administrative
Agent shall have received notice from a Lender prior to the proposed date of any
Committed Borrowing of Eurocurrency Rate Loans (or, in the case of any Committed
Borrowing of Base Rate Loans, prior to 12:00 noon on the date of such Committed
Borrowing) that such Lender will not make available to the Administrative Agent
such Lender’s share of such Committed Borrowing, the Administrative Agent may
assume that such Lender has made such share available on such date in accordance
with Section
2.02 (or, in the case of a Committed Borrowing of Base Rate Loans, that
such Lender has made such share available in accordance with and at the time
required by Section
2.02) and may, in reliance upon such assumption, make available to the
applicable Borrower a corresponding amount.  In such event, if a
Lender has not in fact made its share of the applicable Committed Borrowing
available to the Administrative Agent, then the applicable Lender and the
applicable Borrower severally agree to pay to the Administrative Agent forthwith
on demand such corresponding amount in Same Day Funds with interest thereon, for
each day from and including the date such amount is made available to such
Borrower to but excluding the date of payment to the Administrative Agent, at
(A) in the case of a payment to be made by such Lender, the Overnight Rate, plus
any administrative, processing or similar fees customarily charged by the
Administrative Agent in connection with the foregoing, and (B) in the case of a
payment to be made by such Borrower, the interest rate applicable to Base Rate
Loans.  If such Borrower and such Lender shall pay such interest to
the Administrative Agent for the same or an overlapping period, the
Administrative Agent shall promptly remit to such Borrower the amount of such
interest paid by such Borrower for such period.  If such Lender pays
its share of the applicable Committed Borrowing to the Administrative Agent,
then the amount so paid shall constitute such Lender’s Committed Loan included
in such Committed Borrowing.  Any payment by such Borrower shall be
without prejudice to any claim such Borrower may have against a Lender that
shall have failed to make such payment to the Administrative Agent.

     

    

    
      
        
           

        

        
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    (ii)           Payments by Borrowers;
Presumptions by Administrative Agent.  Unless the
Administrative Agent shall have received notice from a Borrower prior to the
date on which any payment is due to the Administrative Agent for the account of
the Lenders or the L/C Issuer hereunder that such Borrower will not make such
payment, the Administrative Agent may assume that such Borrower has made such
payment on such date in accordance herewith and may, in reliance upon such
assumption, distribute to the Lenders or the L/C Issuer, as the case may be, the
amount due.  In such event, if such Borrower has not in fact made such
payment, then each of the Lenders or the L/C Issuer, as the case may be,
severally agrees to repay to the Administrative Agent forthwith on demand the
amount so distributed to such Lender or the L/C Issuer, in Same Day Funds with
interest thereon, for each day from and including the date such amount is
distributed to it to but excluding the date of payment to the Administrative
Agent, at the Overnight Rate.

     

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

     

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

     

    (d)           Obligations of Lenders
Several.  The obligations of the Lenders hereunder to make
Committed Loans, to fund participations in Letters of Credit and Swing Line
Loans and to make payments pursuant to Section 10.04(c) are
several and not joint.  The failure of any Lender to make any
Committed Loan, to fund any such participation or to make any payment under
Section
10.04(c) on any date required hereunder shall not relieve any other
Lender of its corresponding obligation to do so on such date, and no Lender
shall be responsible for the failure of any other Lender to so make its
Committed Loan, to purchase its participation or to make its payment under Section
10.04(c).

     

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

     

    2.13.           Sharing of Payments by
Lenders.  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 the Committed Loans made by it, or the participations
in L/C Obligations or in Swing Line Loans held by it resulting in such Lender’s
receiving payment of a proportion of the aggregate amount of such Committed
Loans or participations and accrued interest thereon greater than its pro rata
share thereof as provided herein, then the Lender receiving such greater
proportion shall (a) notify the Administrative Agent of such fact, and (b)
purchase (for cash at face value) participations in the Committed Loans and
subparticipations in L/C Obligations and Swing Line Loans of the other Lenders,
or make such other adjustments as shall be equitable, so

     

    

    
      
        
           

        

        
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    that the
benefit of all such payments shall be shared by the Lenders ratably in
accordance with the aggregate amount of principal of and accrued interest on
their respective Committed Loans and other amounts owing them, provided
that:

     

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

     

    (ii)           the
provisions of this Section shall not be construed to apply to (x) any payment
made by a Borrower pursuant to and in accordance with the express terms of this
Agreement or (y) any payment obtained by a Lender as consideration for the
assignment of or sale of a participation in any of its Committed Loans or
subparticipations in L/C Obligations or Swing Line Loans to any assignee or
participant, other than to the Company or any Subsidiary thereof (as to which
the provisions of this Section 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.

     

    2.14.           Increase
in Commitments.

     

    (a)           Request for
Increase.  Provided there exists no Default, upon notice to the
Administrative Agent (which shall promptly notify the Lenders), the Company may
on a one-time basis, request an increase in the Aggregate Commitments by an
amount not exceeding $65,000,000; provided that any
such request for an increase shall be in a minimum amount of
$5,000,000.  At the time of sending such notice, the Company (in
consultation with the Administrative Agent) shall specify the time period within
which each Lender is requested to respond (which shall in no event be less than
ten Business Days from the date of delivery of such notice to the
Lenders).

     

    (b)           Lender Elections to
Increase.  Each Lender shall notify the Administrative Agent
within such time period whether or not it agrees to increase its Commitment and,
if so, whether by an amount equal to, greater than, or less than its Applicable
Percentage of such requested increase.  Any Lender not responding
within such time period shall be deemed to have declined to increase its
Commitment.

     

    (c)           Notification by
Administrative Agent; Additional Lenders.  The Administrative
Agent shall notify the Company and each Lender of the Lenders’ responses to each
request made hereunder.  To achieve the full amount of a requested
increase and subject to the approval of the Administrative Agent, the L/C Issuer
and the Swing Line Lender (which approvals shall not be unreasonably withheld),
the Company may also invite additional Eligible Assignees to become Lenders
pursuant to a joinder agreement in form and substance satisfactory to the
Administrative

     

    

    
      
        
           

        

        
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    Agent and
its counsel; provided that the opportunity
to increase its Commitment is first offered to each existing Lender in
accordance with this Section
2.14.

     

    (d)           Effective Date and
Allocations.  If the Aggregate Commitments are increased in
accordance with this Section, the Administrative Agent and the Company shall
determine the effective date (the “Increase Effective
Date”) and the final allocation of such increase.  The
Administrative Agent shall promptly notify the Company and the Lenders of the
final allocation of such increase and the Increase Effective Date.

     

    (e)           Conditions to Effectiveness
of Increase.  As a condition precedent to such increase, the
Borrowers shall (i) deliver to the Administrative Agent a certificate of each
Loan Party dated as of the Increase Effective Date (in sufficient copies for
each Lender) signed by a Responsible Officer of such Loan Party (A) certifying
and attaching the resolutions adopted by such Loan Party approving or consenting
to such increase, and (B) certifying that, before and after giving effect to
such increase, (x) the representations and warranties contained in Article V and the
other Loan Documents are true and correct on and as of the Increase Effective
Date, except to the extent that such representations and warranties specifically
refer to an earlier date, in which case they are true and correct as of such
earlier date, and except that for purposes of this Section 2.14, the
representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be
deemed to refer to the most recent statements furnished pursuant to clauses (a)
and (b), respectively, of Section 6.01, and (y)
no Default exists and (ii) pay to each Person entitled thereto (including,
without limitation, any Arranger, any Lender and/or Eligible Assignee
participating in any such increase in the Aggregate Commitments) all fees
payable in connection with such increase in the Aggregate Commitments as agreed
to by such Person and the Borrowers.  The Borrowers shall prepay any
Committed Loans outstanding on the Increase Effective Date (and pay any
additional amounts required pursuant to Section 3.05) to the
extent necessary to keep the outstanding Committed Loans ratable with any
revised Applicable Percentages arising from any nonratable increase in the
Commitments under this Section.

     

    (f)           Increases Subject to Same
Terms.  Except with respect to any fees that may be paid
pursuant to Section
2.14(e)(ii), any incremental increase in the Aggregate Commitments
pursuant to this Section 2.14 shall be
made on, and shall be subject to, the terms and conditions (including, without
limitation, payment and interest terms) applicable to the existing Commitments
of the existing Lenders.

     

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

     

    2.15.           Collateral
Security.  Subject to Section 6.12, the
Obligations shall be secured by a perfected first priority security interest
(subject only to Liens permitted by Section 7.01 entitled
to priority under applicable law) in (i) all of the assets of the Loan Parties,
whether now owned or hereafter acquired, including, without limitation all real,
leasehold and personal property of each Loan Party, (ii) all Equity Interests of
all Domestic Subsidiaries of each Loan Party, all Equity Interests of all
Foreign Subsidiaries of each Foreign Loan Party and all Equity Interests of each
first-tier Foreign Subsidiary of each Domestic Loan Party; provided that, with
respect to Foreign Subsidiaries, such equity pledge shall be limited to 65% of
the capital stock of such Foreign Subsidiary to the extent the pledge secures
Domestic Loan Party Obligations and a

     

    

    
      
        
           

        

        
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    pledge of
any greater percentage would result in material adverse tax consequences to any
Loan Party (for the avoidance of doubt, to the extent the equity pledge of the
Foreign Subsidiary secures Foreign Loan Party Obligations, such limitation shall
not apply), (iii) all present and future intercompany debt of each Borrower and
each Guarantor and (iv) all proceeds and products of the property and assets
described in (i), (ii) and (iii) above.

     

    2.16.           Designated
Borrowers.

     

    (a)           [Intentionally
Omitted].

     

    (b)           The
Company may at any time, upon (a) not less than 60 Business Days’ notice from
the Company to the Administrative Agent (or such shorter period as may be agreed
by the Administrative Agent in its sole discretion) and (b) receipt of the
Administrative Agent’s and each Lenders’ prior written consent, designate Yale
GMBH, Columbus Asia, Pfaff or any Significant Subsidiary
of the Company (an “Applicant Borrower”)
as a Designated Borrower to receive Loans hereunder by delivering to the
Administrative Agent (which shall promptly deliver counterparts thereof to each
Lender) a duly executed notice and agreement in substantially the form of Exhibit F (a
“Designated Borrower
Request and Assumption Agreement”).  The parties hereto
acknowledge and agree that prior to any Applicant Borrower becoming entitled to
utilize the credit facilities provided for herein the Administrative Agent shall
have received such supporting resolutions, incumbency certificates, Security
Documents, opinions of counsel and other documents or information, in form,
content and scope reasonably satisfactory to the Administrative Agent, as may be
required by the Administrative Agent in its sole discretion, and Notes signed by
such new Borrowers to the extent any Lenders so require.  If the
Administrative Agent and the Lenders agree that an Applicant Borrower shall be
entitled to receive Loans hereunder, then promptly following receipt of all such
requested resolutions, incumbency certificates, Security Documents, opinions of
counsel and other documents or information, the Administrative Agent shall send
a notice in substantially the form of Exhibit G (a
“Designated Borrower
Notice”) to the Company and the Lenders specifying the effective
date upon which the Applicant Borrower shall constitute a Designated Borrower
for purposes hereof, whereupon each of the Lenders agrees to permit such
Designated Borrower to receive Loans hereunder, on the terms and conditions set
forth herein, and each of the parties agrees that such Designated Borrower
otherwise shall be a Borrower for all purposes of this Agreement; provided that no
Committed Loan Notice or Letter of Credit Application may be submitted by or on
behalf of such Designated Borrower until the date five Business Days after such
effective date.

     

    (c)           The
Obligations of the Company and each Designated Borrower that is a Domestic
Subsidiary shall be joint and several in nature.  The Obligations of
all Designated Borrowers that are Foreign Subsidiaries shall be several in
nature.

     

    (d)           Each
Subsidiary of the Company that is or becomes a “Designated
Borrower” pursuant to this Section 2.16
hereby irrevocably appoints the Company as its agent for all purposes relevant
to this Agreement and each of the other Loan Documents, including (i) the
giving and receipt of notices, (ii) the execution and delivery of all
documents, instruments and certificates contemplated herein and all
modifications hereto, and (iii) the receipt of the proceeds of any Loans
made by the Lenders to any such Designated Borrower hereunder.  Any
acknowledgment, consent, direction, certification or other action which might
otherwise be valid

     

    

    
      
        
           

        

        
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    or
effective only if given or taken by all Borrowers, or by each Borrower acting
singly, shall be valid and effective if given or taken only by the Company,
whether or not any such other Borrower joins therein.  Any notice,
demand, consent, acknowledgement, direction, certification or other
communication delivered to the Company in accordance with the terms of this
Agreement shall be deemed to have been delivered to each Designated
Borrower.

     

    (e)           The
Company may from time to time, upon not less than 15 Business Days’ notice from
the Company to the Administrative Agent (or such shorter period as may be agreed
by the Administrative Agent in its sole discretion), terminate a Designated
Borrower’s status as such, provided that there
are no outstanding Loans payable by such Designated Borrower, or other amounts
payable by such Designated Borrower on account of any Loans made to it, as of
the effective date of such termination. The Administrative Agent will promptly
notify the Lenders of any such termination of a Designated Borrower’s
status.

     

    ARTICLE
III.

     

    TAXES,
YIELD PROTECTION AND ILLEGALITY

     

    3.01.           Taxes.

     

    (a)           Payments Free of Taxes;
Obligation to Withhold; Payments on Account of Taxes.

     

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

     

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

     

    (iii)           If
any Borrower or the Administrative Agent shall be required by any applicable
Laws other than the Code to withhold or deduct any Taxes from any
payment,

     

    

    
      
        
           

        

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

     

    (b)           Payment of Other Taxes by
the Borrowers.  Without limiting the provisions of subsection
(a) above, each Borrower shall timely pay any Other Taxes to the relevant
Governmental Authority in accordance with applicable Laws.

     

    (c)           Tax
Indemnifications.

     

    (i)           Without
limiting the provisions of subsection (a) or (b) above, each Borrower shall, and
does hereby, indemnify the Administrative Agent, each Lender and the L/C Issuer,
and shall make payment in respect thereof within 10 days after demand therefor,
for the full amount of any Indemnified Taxes or Other Taxes (including
Indemnified Taxes or Other Taxes imposed or asserted on or attributable to
amounts payable under this Section) withheld or deducted by such Borrower or the
Administrative Agent or paid by the Administrative Agent, such Lender or the L/C
Issuer, as the case may be, and any penalties, interest and reasonable expenses
arising therefrom or with respect thereto, whether or not such Indemnified Taxes
or Other Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority.  Each Borrower shall also, and does hereby,
indemnify the Administrative Agent, and shall make payment in respect thereof
within 10 days after demand therefor, for any amount which a Lender or the L/C
Issuer for any reason fails to pay indefeasibly to the Administrative Agent as
required by clause (ii) of this subsection.  A certificate as to the
amount of any such payment or liability delivered to a Borrower by a Lender or
the L/C Issuer (with a copy to the Administrative Agent), or by the
Administrative Agent on its own behalf or on behalf of a Lender or the L/C
Issuer, shall be conclusive absent manifest error.

     

    (ii)           Without
limiting the provisions of subsection (a) or (b) above, each Lender and the L/C
Issuer shall, and does hereby, indemnify each Borrower and the Administrative
Agent, and shall make payment in respect thereof within 10 days after demand
therefor, against any and all Taxes and any and all related losses, claims,
liabilities, penalties, interest and expenses (including the fees, charges and
disbursements of any counsel for such Borrower or the Administrative
Agent) incurred by or asserted against such Borrower or the Administrative Agent
by any Governmental Authority as a result of the failure by such Lender or the
L/C Issuer, as the case may be, to deliver, or as a result of the inaccuracy,
inadequacy or deficiency of, any documentation required to be delivered by such
Lender or the L/C Issuer, as the case may be, to such Borrower or
the

     

    

    
      
        
           

        

        
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    Administrative
Agent pursuant to subsection (e).  Each Lender and the L/C Issuer
hereby authorizes the Administrative Agent to set off and apply any and all
amounts at any time owing to such Lender or the L/C Issuer, as the case may be,
under this Agreement or any other Loan Document against any amount due to the
Administrative Agent under this clause (ii).  The agreements in this
clause (ii) shall survive the resignation and/or replacement of the
Administrative Agent, any assignment of rights by, or the replacement of, a
Lender or the L/C Issuer, the termination of the Aggregate Commitments and the
repayment, satisfaction or discharge of all other Obligations.

     

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

     

    (e)           Status of Lenders; Tax
Documentation.

     

    (i)           Each
Lender shall deliver to the Company and to the Administrative Agent, at the time
or times prescribed by applicable Laws or when reasonably requested by the
Company or the Administrative Agent, such properly completed and executed
documentation prescribed by applicable Laws or by the taxing authorities of any
jurisdiction and such other reasonably requested information as will permit the
Company or the Administrative Agent, as the case may be, to determine (A)
whether or not payments made by the respective Borrowers hereunder or under any
other Loan Document are subject to Taxes, (B) if applicable, the required rate
of withholding or deduction, and (C) such Lender’s entitlement to any available
exemption from, or reduction of, applicable Taxes in respect of all payments to
be made to such Lender by the respective Borrowers pursuant to this Agreement or
otherwise to establish such Lender’s status for withholding tax purposes in the
applicable jurisdictions.

     

    (ii)           Without
limiting the generality of the foregoing, if a Borrower is resident for tax
purposes in the United States,

     

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

     

    (B)           each
Foreign Lender that is entitled under the Code or any applicable treaty to an
exemption from or reduction of withholding tax with

     

    

    
      
        
           

        

        
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    respect
to payments hereunder or under any other Loan Document shall deliver to the
Company and the Administrative Agent (in such number of copies as shall be
requested by the recipient) on or prior to the date on which such Foreign Lender
becomes a Lender under this Agreement (and from time to time thereafter upon the
request of the Company on behalf of such Borrower or the Administrative Agent,
but only if such Foreign Lender is legally entitled to do so), whichever of the
following is applicable:

     

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

     

    (II)           executed
originals of Internal Revenue Service Form W-8ECI,

     

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

     

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

     

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

     

    (iii)           Each
Lender shall promptly (A) notify the Company and the Administrative Agent of any
change in circumstances which would modify or render invalid any claimed
exemption or reduction, and (B) take such steps as shall not be materially
disadvantageous to it, in the reasonable judgment of such Lender, and as may be
reasonably necessary (including the re-designation of its Lending Office) to
avoid any requirement of applicable Laws of any jurisdiction that any Borrower
or the Administrative Agent make any withholding or deduction for taxes from
amounts payable to such Lender.

     

    (iv)           Each
of the Borrowers shall promptly deliver to the Administrative Agent or any
Lender, as the Administrative Agent or such Lender shall reasonably request, on
or prior to the Closing Date (or such later date on which it first becomes a
Borrower), and in a timely fashion thereafter, such documents and forms required
by any relevant taxing

     

    

    
      
        
           

        

        
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    authorities
under the Laws of any jurisdiction, duly executed and completed by such
Borrower, as are required to be furnished by such Lender or the Administrative
Agent under such Laws in connection with any payment by the Administrative Agent
or any Lender of Taxes or Other Taxes, or otherwise in connection with the Loan
Documents, with respect to such jurisdiction.

     

    (f)           Treatment of Certain
Refunds.  Unless required by applicable Laws, at no time shall
the Administrative Agent have any obligation to file for or otherwise pursue on
behalf of a Lender or the L/C Issuer, or have any obligation to pay to any
Lender or the L/C Issuer, any refund of Taxes withheld or deducted from funds
paid for the account of such Lender or the L/C Issuer, as the case may
be.  If the Administrative Agent, any Lender or the L/C Issuer
determines, in its sole discretion, that it has received a refund of any Taxes
or Other Taxes as to which it has been indemnified by any Borrower or with
respect to which any Borrower has paid additional amounts pursuant to this
Section, it shall pay to such Borrower an amount equal to such refund (but only
to the extent of indemnity payments made, or additional amounts paid, by such
Borrower under this Section with respect to the Taxes or Other Taxes giving rise
to such refund), net of all out-of-pocket expenses and net of any loss or gain
realized in the conversion of such funds from or to another currency incurred by
the Administrative Agent, such Lender or the L/C Issuer, as the case may be, and
without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund), provided that each
Borrower, upon the request of the Administrative Agent, such Lender or the L/C
Issuer, agrees to repay the amount paid over to such Borrower (plus any
penalties, interest or other charges imposed by the relevant Governmental
Authority) to the Administrative Agent, such Lender or the L/C Issuer in the
event the Administrative Agent, such Lender or the L/C Issuer is required to
repay such refund to such Governmental Authority.  This subsection
shall not be construed to require the Administrative Agent, any Lender or the
L/C Issuer to make available its tax returns (or any other information relating
to its taxes that it deems confidential) to any Borrower or any other
Person.

     

    3.02.           Illegality.  If any
Lender determines that any Law has made it unlawful, or that any Governmental
Authority has asserted that it is unlawful, for any Lender or its applicable
Lending Office to make, maintain or fund Eurocurrency Rate Loans (whether
denominated in Dollars or an Alternative Currency), or to determine or charge
interest rates based upon the Eurocurrency Rate, or any Governmental Authority
has imposed material restrictions on the authority of such Lender to purchase or
sell, or to take deposits of, Dollars or any Alternative Currency in the
applicable interbank market, then, on notice thereof by such Lender to the
Company through the Administrative Agent, any obligation of such Lender to make
or continue Eurocurrency Rate Loans in the affected currency or currencies or,
in the case of Eurocurrency Rate Loans in Dollars, to convert Base Rate
Committed Loans to Eurocurrency Rate Loans, shall be suspended until such Lender
notifies the Administrative Agent and the Company that the circumstances giving
rise to such determination no longer exist.  Upon receipt of such
notice, the Borrowers shall, upon demand from such Lender (with a copy to the
Administrative Agent), prepay or, if applicable and such Loans are denominated
in Dollars, convert all such Eurocurrency Rate Loans of such Lender to Base Rate
Loans, either on the last day of the Interest Period therefor, if such Lender
may lawfully continue to maintain such Eurocurrency Rate Loans to such day, or
immediately, if such Lender may not lawfully continue to maintain such
Eurocurrency Rate Loans.  Upon any such prepayment or conversion, the
Borrowers shall also pay accrued interest on the amount so prepaid or
converted.

     

    

    
      
        
           

        

        
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    3.03.           Inability to Determine
Rates.  If the Required Lenders determine that for any reason
in connection with any request for a Eurocurrency Rate Loan or a conversion to
or continuation thereof that (a) deposits (whether in Dollars or an
Alternative Currency) are not being offered to banks in the applicable offshore
interbank market for such currency for the applicable amount and Interest Period
of such Eurocurrency Rate Loan, (b) adequate and reasonable means do not
exist for determining the Eurocurrency Rate for any requested Interest Period
with respect to a proposed Eurocurrency Rate Loan (whether denominated in
Dollars or an Alternative Currency), or (c) the Eurocurrency Rate for any
requested Interest Period with respect to a proposed Eurocurrency Rate Loan does
not adequately and fairly reflect the cost to such Lenders of funding such
Eurocurrency Rate Loan, the Administrative Agent will promptly so notify the
Company and each Lender.  Thereafter, the obligation of the Lenders to
make or maintain Eurocurrency Rate Loans in the affected currency or currencies
shall be suspended until the Administrative Agent (upon the instruction of the
Required Lenders) revokes such notice.  Upon receipt of such notice,
the Company may revoke any pending request for a Borrowing of, conversion to or
continuation of Eurocurrency Rate Loans in the affected currency or currencies
or, failing that, will be deemed to have converted such request into a request
for a Committed Borrowing of Base Rate Loans in the amount specified
therein.

     

    3.04.           Increased
Costs; Reserves on Eurocurrency Rate Loans.

     

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

     

    (i)           impose,
modify or deem applicable any reserve, special deposit, compulsory loan,
insurance charge or similar requirement against assets of, deposits with or for
the account of, or credit extended or participated in by, any Lender (except (A)
any reserve requirement contemplated by Section 3.04(e) and
(B) the requirements of the Bank of England and the Financial Services Authority
or the European Central Bank reflected in the Mandatory Cost, other than as set
forth below) or the L/C Issuer;

     

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

     

    (iii)           result
in the failure of the Mandatory Cost, as calculated hereunder, to represent the
cost to any Lender of complying with the requirements of the Bank of England
and/or the Financial Services Authority or the European Central Bank in relation
to its making, funding or maintaining Eurocurrency Rate Loans; or

     

    (iv)           impose
on any Lender or the L/C Issuer or the London interbank market any other
condition, cost or expense affecting this Agreement or Eurocurrency Rate Loans
made by such Lender or any Letter of Credit or participation therein;
and the
result of any of the foregoing shall be to increase the cost to such Lender of
making or maintaining any Eurocurrency Rate Loan (or of maintaining its
obligation to make

     

    

    
      
        
           

        

        
          S-65

          
            

          

        

        
           

        

      

    

    

    any such
Loan), or to increase the cost to such Lender or the L/C Issuer of participating
in, issuing or maintaining any Letter of Credit (or of maintaining its
obligation to participate in or to issue any Letter of Credit), or to reduce the
amount of any sum received or receivable by such Lender or the L/C Issuer
hereunder (whether of principal, interest or any other amount) then, upon
request of such Lender or the L/C Issuer, the Company or the applicable
Designated Borrower shall pay to such Lender or the L/C Issuer, as the case may
be, such additional amount or amounts as will compensate such Lender or the L/C
Issuer, as the case may be, for such additional costs incurred or reduction
suffered.

     

    (b)           Capital
Requirements.  If any Lender or the L/C Issuer determines that
any Change in Law affecting such Lender or the L/C Issuer or any Lending Office
of such Lender or such Lender’s or the L/C Issuer’s holding company, if any,
regarding capital requirements has or would have the effect of reducing the rate
of return on such Lender’s or the L/C Issuer’s capital or on the capital of such
Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this
Agreement, the Commitments of such Lender or the Loans made by, or
participations in Letters of Credit held by, such Lender, or the Letters of
Credit issued by the L/C Issuer, to a level below that which such Lender or the
L/C Issuer or such Lender’s or the L/C Issuer’s holding company could have
achieved but for such Change in Law (taking into consideration such Lender’s or
the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s
holding company with respect to capital adequacy), then from time to time the
Company or the applicable Designated Borrower will pay to such Lender or the L/C
Issuer, as the case may be, such additional amount or amounts as will compensate
such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding
company for any such reduction suffered.

     

    (c)           Certificates for
Reimbursement.  A certificate of a Lender or the L/C Issuer
setting forth the amount or amounts necessary to compensate such Lender or the
L/C Issuer or its holding company, as the case may be, as specified in
subsection (a) or (b) of this Section and delivered to the Company shall be
conclusive absent manifest error.  The Company or the applicable
Designated Borrower shall pay to such Lender or the L/C Issuer, as the case may
be, the amount shown as due on any such certificate within 10 days after receipt
thereof.

     

    (d)           Delay in
Requests.  Failure or delay on the part of any Lender or the
L/C Issuer to demand compensation pursuant to the foregoing provisions of this
Section shall not constitute a waiver of such Lender’s or the L/C Issuer’s right
to demand such compensation, provided that no
Borrower shall be required to compensate a Lender or the L/C Issuer pursuant to
the foregoing provisions of this Section for any increased costs incurred or
reductions suffered more than nine months prior to the date that such Lender or
the L/C Issuer, as the case may be, notifies the Company of the Change in Law
giving rise to such increased costs or reductions and of such Lender’s or the
L/C Issuer’s intention to claim compensation therefor (except that, if the
Change in Law giving rise to such increased costs or reductions is retroactive,
then the nine-month period referred to above shall be extended to include the
period of retroactive effect thereof).

     

    (e)           Additional Reserve
Requirements.  The Company or the applicable Designated
Borrower shall pay to each Lender, (i) as long as such Lender shall be required
to maintain reserves with respect to liabilities or assets consisting of or
including Eurocurrency funds or deposits (currently known as “Eurocurrency
liabilities”), additional interest on the unpaid principal amount of each
Eurocurrency Rate Loan equal to the actual costs of such reserves

     

    

    
      
        
           

        

        
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    allocated
to such Loan by such Lender (as determined by such Lender in good faith, which
determination shall be conclusive), and (ii) as long as such Lender shall be
required to comply with any reserve ratio requirement or analogous requirement
of any other central banking or financial regulatory authority imposed in
respect of the maintenance of the Commitments or the funding of the Eurocurrency
Rate Loans, such additional costs (expressed as a percentage per annum and
rounded upwards, if necessary, to the nearest five decimal places) equal to the
actual costs allocated to such Commitment or Loan by such Lender (as determined
by such Lender in good faith, which determination shall be conclusive), which in
each case shall be due and payable on each date on which interest is payable on
such Loan, provided the Company
shall have received at least 10 days’ prior notice (with a copy to the
Administrative Agent) of such additional interest or costs from such
Lender.  If a Lender fails to give notice 10 days prior to the
relevant Interest Payment Date, such additional interest or costs shall be due
and payable 10 days from receipt of such notice.

     

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

     

    (a)           any
continuation, conversion, payment or prepayment of any Loan other than a Base
Rate Loan on a day other than the last day of the Interest Period for such Loan
(whether voluntary, mandatory, automatic, by reason of acceleration, or
otherwise);

     

    (b)           any
failure by any Borrower (for a reason other than the failure of such Lender to
make a Loan) to prepay, borrow, continue or convert any Loan other than a Base
Rate Loan on the date or in the amount notified by the Company or the applicable
Designated Borrower;

     

    (c)           any
failure by any Borrower to make payment of any Loan or drawing under any Letter
of Credit (or interest due thereon) denominated in an Alternative Currency on
its scheduled due date or any payment thereof in a different currency;
or

     

    (d)           any
assignment of a Eurocurrency Rate Loan on a day other than the last day of the
Interest Period therefor as a result of a request by the Company pursuant to
Section 10.13;

     

    including
any loss of anticipated profits, any foreign exchange losses and any loss or
expense arising from the liquidation or reemployment of funds obtained by it to
maintain such Loan, from fees payable to terminate the deposits from which such
funds were obtained or from the performance of any foreign exchange
contract.  The Company or the applicable Designated Borrower shall
also pay any customary administrative fees charged by such Lender in connection
with the foregoing.

     

    For
purposes of calculating amounts payable by the Company or the applicable
Designated Borrower to the Lenders under this Section 3.05, each
Lender shall be deemed to have funded each Eurocurrency Rate Loan made by it at
the Eurocurrency Rate for such Loan by a matching deposit or other borrowing in
the offshore interbank market for such currency for a comparable amount and for
a comparable period, whether or not such Eurocurrency Rate Loan was in fact so
funded.

     

    

    
      
        
           

        

        
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    3.06.           Mitigation
Obligations; Replacement of Lenders.

     

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

     

    (b)           Replacement of
Lenders.  If any Lender requests compensation under Section 3.04, or if
any Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 3.01, the
Company may replace such Lender in accordance with Section
10.13.

     

    3.07.           Survival.  All of
the Borrowers’ obligations under this Article III shall
survive termination of the Aggregate Commitments, repayment of all other
Obligations hereunder, and resignation of the Administrative Agent.

     

    ARTICLE
IV.

     

    CONDITIONS
PRECEDENT TO CREDIT EXTENSIONS

     

    4.01.           Conditions of Initial Credit
Extension.  Subject to the Post Closing Letter, the obligation
of the L/C Issuer and each Lender to make its initial Credit Extension hereunder
is subject to satisfaction of the following conditions precedent on or prior to
the Closing Date:

     

    (a)           The
Administrative Agent’s receipt of the following, each of which shall be
originals or telecopies (followed promptly by originals) unless otherwise
specified, each properly executed by a Responsible Officer of the signing Loan
Party, and each in form and substance satisfactory to the Administrative Agent
and each of the Lenders:

     

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

     

    (ii)           Notes
executed by the Borrowers in favor of each Lender requesting a
Note;

     

    (iii)           [Intentionally
Omitted];

     

    (iv)           [Intentionally
Omitted];

     

    

    
      
        
           

        

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

     

    (vi)           such
documents and certifications as the Administrative Agent may reasonably require
to evidence that each Loan Party is duly organized or formed, and that each Loan
Party is validly existing, in good standing and qualified to engage in business
in each jurisdiction where its ownership, lease or operation of properties or
the conduct of its business requires such qualification, except to the extent
that failure to do so could not reasonably be expected to have a Material
Adverse Effect;

     

    (vii)           a
favorable opinion of Phillips Lytle LLP, counsel to the Loan Parties, addressed
to the Administrative Agent and each Lender, as to the matters concerning the
Loan Parties and the Loan Documents as the Administrative Agent may reasonably
request

     

    (viii)           a
favorable opinion of Oklahoma local counsel to Crane Equipment & Service,
Inc., reasonably acceptable to the Administrative Agent, addressed to the
Administrative Agent and each Lender;

     

    (ix)           [Intentionally
Omitted];

     

    (x)           a
certificate of a Responsible Officer of each Loan Party either (A) attaching
copies of all consents, licenses and approvals required in connection with the
execution, delivery and performance by such Loan Party and the validity against
such Loan Party of the Loan Documents to which it is a party, and such consents,
licenses and approvals shall be in full force and effect, or (B) stating that no
such consents, licenses or approvals are so required;

     

    (xi)           a
certificate signed by a Responsible Officer of the Company certifying (A) that
the conditions specified in Sections 4.02(a) and
(b) have been
satisfied, (B) that there has been no event or circumstance since March 31, 2009
that has had or could be reasonably expected to have, either individually or in
the aggregate, a Material Adverse Effect, and (C) as to the absence of any
action, suit, investigation or proceeding pending or, to the knowledge of any
Loan Party, threatened in any court or before any arbitrator or governmental
authority that could reasonably be expected to have a Material Adverse
Effect;

     

    (xii)           [Intentionally
Omitted];

     

    (xiii)           evidence
that all insurance required to be maintained pursuant to the Loan Documents has
been obtained and is in effect;

     

    (xiv)           Administrative
Agent shall be satisfied that the Security Documents shall be effective to
create in favor of the Administrative Agent a legal, valid and enforceable first
(except for Liens permitted pursuant to Section 7.01 and
entitled to priority under

     

    

    
      
        
           

        

        
          S-69

          
            

          

        

        
           

        

      

    

    applicable
law) security interest in and Lien upon the Collateral, along with, in form and
substance satisfactory to the Lenders, evidence that all filings, recordings,
deliveries of instruments and other actions necessary or desirable in the
opinion of the Administrative Agent to protect and preserve such security
interests shall have been duly effected;

     

    (xv)           a
completed and fully executed perfection certificate (or a bringdown of the
perfection certificate provided with respect to the Third Amended and Restated
Credit Agreement) with respect to each Loan Party and the results of UCC
searches (and the equivalent thereof in all applicable foreign jurisdictions)
and other evidence satisfactory to the Administrative Agent that there are no
Liens upon the Collateral, other than Liens permitted pursuant to Section 7.01 and
otherwise in form and substance satisfactory to the Lenders;

     

    (xvi)           completed
environmental questionnaires and such other environmental reports, audits,
certifications and information as the Administrative Agent may reasonably
require, in each case in form and substance satisfactory to the Administrative
Agent;

     

    (xvii)           the
Administrative Agent and the Lenders shall have completed a confirmatory legal
and business due diligence investigation, the results of which shall be
satisfactory to the Administrative Agent and the Lenders;

     

    (xviii)           [Intentionally
Omitted];

     

    (xix)           assignments
to the Administrative Agent for the benefit of the Lenders, of all notes and
instruments evidencing intercompany Indebtedness among the Company and its
Subsidiaries;

     

    (xx)           such
other assurances, certificates, documents, consents or opinions as the
Administrative Agent, the L/C Issuer, the Swing Line Lender or the Required
Lenders reasonably may require.

     

    (b)           Any
fees required to be paid on or before the Closing Date shall have been
paid.

     

    (c)           Unless
waived by the Administrative Agent, the Company shall have paid all fees,
charges and disbursements of counsel to the Administrative Agent (directly to
such counsel if requested by the Administrative Agent) to the extent invoiced
prior to or on the Closing Date, plus such additional amounts of such fees,
charges and disbursements as shall constitute its reasonable estimate of such
fees, charges and disbursements incurred or to be incurred by it through the
closing proceedings (provided that such estimate shall not thereafter preclude a
final settling of accounts between the Company and the Administrative
Agent).

     

    Without
limiting the generality of the provisions of the last paragraph of Section 9.03, for
purposes of determining compliance with the conditions specified in this Section 4.01, each
Lender that has signed this Agreement shall be deemed to have consented to,
approved or accepted or to be satisfied with, each document or other matter
required thereunder to be consented to or approved by or acceptable or
satisfactory to a Lender unless the Administrative

     

    

    
      
        
           

        

        
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    Agent
shall have received notice from such Lender prior to the proposed Closing Date
specifying its objection thereto.

     

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

     

    (a)           The
representations and warranties of the Borrowers and each other Loan Party
contained in Article
V or any other Loan Document, or which are contained in any document
furnished at any time under or in connection herewith or therewith, shall be
true and correct on and as of the date of such Credit Extension, except to the
extent that such representations and warranties specifically refer to an earlier
date, in which case they shall be true and correct as of such earlier date, and
except that for purposes of this Section 4.02, the
representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be
deemed to refer to the most recent statements furnished pursuant to clauses (a)
and (b), respectively, of Section
6.01.

     

    (b)           No
Default or Event of Default shall exist, or would result from such proposed
Credit Extension or from the application of the proceeds thereof.

     

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

     

    (d)           If
the applicable Borrower is a Designated Borrower, then the conditions of Section 2.16 to
the designation of such Borrower as a Designated Borrower shall have been met to
the satisfaction of the Administrative Agent.

     

    (e)           In
the case of a Credit Extension to be denominated in an Alternative Currency,
there shall not have occurred any change in national or international financial,
political or economic conditions or currency exchange rates or exchange controls
which in the reasonable opinion of the Administrative Agent, the Required
Lenders (in the case of any Loans to be denominated in an Alternative Currency)
or the L/C Issuer (in the case of any Letter of Credit to be denominated in an
Alternative Currency) would make it impracticable for such Credit Extension to
be denominated in the relevant Alternative Currency.

     

    Each
Request for Credit Extension (other than a Committed Loan Notice requesting only
a conversion of Committed Loans to the other Type or a continuation of
Eurocurrency Rate Loans) submitted by the Company shall be deemed to be a
representation and warranty that the conditions specified in Sections 4.02(a) and
(b) have been
satisfied on and as of the date of the applicable Credit Extension.

     

    ARTICLE
V.

     

    REPRESENTATIONS
AND WARRANTIES

     

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

     

    

    
      
        
           

        

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

     

    5.02.           Authorization; No
Contravention.  The execution, delivery and performance by each
Loan Party of each Loan Document to which such Person is party, have been duly
authorized by all necessary corporate or other organizational action, and do not
and will not (a) contravene the terms of any of such Person’s Organization
Documents; (b) conflict with or result in any breach or contravention of, or the
creation of any Lien under, or require any payment to be made under (i) any
Contractual Obligation to which such Person is a party or affecting such Person
or the properties of such Person or any of its Subsidiaries or (ii) any order,
injunction, writ or decree of any Governmental Authority or any arbitral award
to which such Person or its property is subject; or (c) violate any
Law.

     

    5.03.           Governmental Authorization; Other
Consents.  No approval, consent, exemption, authorization, or
other action by, or notice to, or filing with, any Governmental Authority or any
other Person is necessary or required in connection with the execution, delivery
or performance by, or enforcement against, any Loan Party of this Agreement or
any other Loan Document.

     

    5.04.           Binding
Effect.  This Agreement has been, and each other Loan Document,
when delivered hereunder, will have been, duly executed and delivered by each
Loan Party that is party thereto.  This Agreement constitutes, and
each other Loan Document when so delivered will constitute, a legal, valid and
binding obligation of such Loan Party, enforceable against each Loan Party that
is party thereto in accordance with its terms.

     

    5.05.           Financial Statements; No Material
Adverse Effect; No Internal Control Event.

     

    (a)           The
Audited Financial Statements (i) were prepared in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein; (ii) fairly present the financial condition of the
Company and its Subsidiaries as of the date thereof and their results of
operations for the period covered thereby in accordance with GAAP consistently
applied throughout the period covered thereby, except as otherwise expressly
noted therein; and (iii) show all material indebtedness and other liabilities,
direct or contingent, of the Company and its Subsidiaries as of the date
thereof, including liabilities for taxes, material commitments and
Indebtedness.

     

    (b)           The
unaudited consolidated and consolidating balance sheets of the Company and its
Subsidiaries dated September 30, 2009 and the related consolidated and
consolidating

     

    

    
      
        
           

        

        
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    statements
of income or operations, shareholders’ equity and cash flows for the fiscal
quarter ended on that date (i) were prepared in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein, and (ii) fairly present the financial condition of the
Company and its Subsidiaries as of the date thereof and their results of
operations for the period covered thereby, subject, in the case of clauses (i)
and (ii), to the absence of footnotes and to normal year-end audit
adjustments.  Schedule 5.05 sets
forth all material indebtedness and other liabilities, direct or contingent, of
the Company and its consolidated Subsidiaries as of the date of such financial
statements, including liabilities for taxes, material commitments and
Indebtedness.

     

    (c)           Since
the date of the Audited Financial Statements, there has been no event or
circumstance, either individually or in the aggregate, that has had or could
reasonably be expected to have a Material Adverse Effect.

     

    (d)           To
the best knowledge of the Company, no Internal Control Event exists or has
occurred since the date of the Audited Financial Statements that has resulted in
or could reasonably be expected to result in a misstatement in any material
respect, in any financial information delivered or to be delivered to the
Administrative Agent or the Lenders, of (i) covenant compliance calculations
provided hereunder or (ii) the assets, liabilities, financial condition or
results of operations of the Company and its Subsidiaries on a consolidated
basis.

     

    (e)           The
consolidated and consolidating forecasted balance sheet and statements of income
and cash flows of the Company and its Subsidiaries delivered pursuant to Section 6.01(c) and
Section 6.01(c) of the Third Amended and Restated Credit Agreement were prepared
in good faith on the basis of the assumptions stated therein, which assumptions
were fair in light of the conditions existing at the time of delivery of such
forecasts, and represented, at the time of delivery, the Company’s best estimate
of its future financial condition and performance.

     

    5.06.           Litigation.  There
are no actions, suits, proceedings, claims or disputes pending or, to the
knowledge of the Company after due and diligent investigation, threatened or
contemplated, at law, in equity, in arbitration or before any Governmental
Authority, by or against the Company or any of its Subsidiaries or against any
of their properties or revenues that (a) purport to affect or pertain to this
Agreement or any other Loan Document, or any of the transactions contemplated
hereby, or (b) except as specifically disclosed in Schedule 5.06, either individually or
in the aggregate, if determined adversely, could reasonably be expected to have
a Material Adverse Effect, and there has been no adverse change in the status,
or financial effect on any Loan Party or any Subsidiary thereof, of the matters
described on Schedule
5.06.

     

    5.07.           No Default.  Neither
any Loan Party nor any Subsidiary thereof is in default under or with respect to
any Contractual Obligation that could, either individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.  No Default
has occurred and is continuing or would result from the consummation of the
transactions contemplated by this Agreement or any other Loan
Document.

     

    5.08.           Ownership of Property;
Liens.  Each of the Company and each Subsidiary has good record
and marketable title in fee simple to, or valid leasehold interests in, all real
property necessary or used in the ordinary conduct of its business, except for
such defects in title as could

     

    

    
      
        
           

        

        
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    not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.  The property of the Company and its Subsidiaries is
subject to no Liens, other than Liens permitted by Section
7.01.

     

    5.09.           Environmental
Compliance.  The Company and its Subsidiaries conduct in the
ordinary course of business a review of the effect of existing Environmental
Laws and claims alleging potential liability or responsibility for violation of
any Environmental Law on their respective businesses, operations and properties,
and as a result thereof the Company has reasonably concluded that, except as
specifically disclosed in Schedule 5.09, such
Environmental Laws and claims could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.

     

    5.10.           Insurance.  The
properties of the Company and its Subsidiaries are insured with financially
sound and reputable insurance companies not Affiliates of the Company, in such
amounts (after giving effect to any insurance coverage from CM Insurance
Company, Inc. compatible with the following standards) with such deductibles and
covering such risks as are customarily carried by companies engaged in similar
businesses and owning similar properties in localities where the Company or the
applicable Subsidiary operates.

     

    5.11.           Taxes.  The Company
and its Subsidiaries have filed all Federal, state and other material tax
returns and reports required to be filed, and have paid all Federal, state and
other material taxes, assessments, fees and other governmental charges levied or
imposed upon them or their properties, income or assets otherwise due and
payable, except those which are being contested in good faith by appropriate
proceedings diligently conducted and for which adequate reserves have been
provided in accordance with GAAP.  There is no proposed tax assessment
against the Company or any Subsidiary that would, if made, have a Material
Adverse Effect.  Neither any Loan Party nor any Subsidiary thereof is
party to any tax sharing agreement.

     

    5.12.           ERISA Compliance.

     

    (a)           Each
Plan is in compliance in all material respects with the applicable provisions of
ERISA, the Code and other Federal or state Laws.  Each Plan that is
intended to qualify under Section 401(a) of the Code has received a favorable
determination letter from the IRS or an application for such a letter is
currently being processed by the IRS with respect thereto and, to the best
knowledge of the Company, nothing has occurred which would prevent, or cause the
loss of, such qualification.  The Company and each ERISA Affiliate
have made all required contributions to each Plan subject to Section 412 of the
Code, and no application for a funding waiver or an extension of any
amortization period pursuant to Section 412 of the Code has been made with
respect to any Plan.

     

    (b)           There
are no pending or, to the best knowledge of the Company, threatened claims,
actions or lawsuits, or action by any Governmental Authority, with respect to
any Plan that could reasonably be expected to have a Material Adverse
Effect.  There has been no prohibited transaction or violation of the
fiduciary responsibility rules with respect to any Plan that has resulted or
could reasonably be expected to result in a Material Adverse
Effect.

     

    

    
      
        
           

        

        
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    (c)           (i)  No
ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension
Plan has any Unfunded Pension Liability; (iii) neither the Company nor any ERISA
Affiliate has incurred, or reasonably expects to incur, any liability under
Title IV of ERISA with respect to any Pension Plan (other than premiums due and
not delinquent under Section 4007 of ERISA); (iv) neither the Company nor any
ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and
no event has occurred which, with the giving of notice under Section 4219 of
ERISA, would result in such liability) under Section 4201 or 4243 of ERISA with
respect to a Multiemployer Plan; and (v) neither the Company nor any ERISA
Affiliate has engaged in a transaction that could be subject to Section 4069 or
4212(c) of ERISA.

     

    5.13.           Subsidiaries; Equity
Interests.  The Company has no Subsidiaries other than those
specifically disclosed in Part (a) of Schedule 5.13, and
all of the outstanding Equity Interests in such Subsidiaries have been validly
issued, are fully paid and nonassessable and are owned by a Loan Party in the
amounts specified on Part (a) of Schedule 5.13 free
and clear of all Liens.  The Company has no equity investments in any
other corporation or entity other than those specifically disclosed in Part (b)
of Schedule
5.13.  All of the outstanding Equity Interests in the Company
have been validly issued and are fully paid and
nonassessable.

     

    5.14.           Margin Regulations; Investment
Company Act.

     

    (a)           No
Borrower is engaged or will engage, principally or as one of its important
activities, in the business of purchasing or carrying margin stock (within the
meaning of Regulation U issued by the FRB), or extending credit for the purpose
of purchasing or carrying margin stock. 

     

    (b)           None
of the Company, any Person Controlling the Company, or any Subsidiary is
required to be registered as an “investment company” under the Investment
Company Act of 1940.

     

    5.15.           Disclosure.  The
Company has disclosed to the Administrative Agent and the Lenders all
agreements, instruments and corporate or other restrictions to which it or any
of its Subsidiaries is subject, and all other matters known to it, that,
individually or in the aggregate, could reasonably be expected to result in a
Material Adverse Effect.  No report, financial statement, certificate
or other information furnished (whether in writing or orally) by or on behalf of
any Loan Party to the Administrative Agent or any Lender in connection with the
transactions contemplated hereby and the negotiation of this Agreement or
delivered hereunder or under any other Loan Document (in each case, 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 Company represents only that
such information was prepared in good faith based upon assumptions believed to
be reasonable at the time.

     

    5.16.           Compliance with
Laws.  Each Loan Party and each Subsidiary thereof is in
compliance in all material respects with the requirements of all Laws and all
orders, writs, injunctions and decrees applicable to it or to its properties,
except in such instances in which (a) such requirement of Law or order, writ,
injunction or decree is being contested in good faith by

     

    

    
      
        
           

        

        
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    appropriate
proceedings diligently conducted or (b) the failure to comply therewith, either
individually or in the aggregate, could not reasonably be expected to have a
Material Adverse Effect.

     

    5.17.           Taxpayer Identification Number; Other
Identifying Information.  The true and correct U.S. taxpayer
identification number of the Company and each Designated Borrower that is a
Domestic Subsidiary and a party hereto on the Closing Date is set forth on Schedule
10.02.  The true and correct unique identification number of
each Designated Borrower that is a Foreign Subsidiary and a party hereto on the
Closing Date that has been issued by its jurisdiction of organization and the
name of such jurisdiction are set forth on Schedule
5.17.

     

    5.18.           Intellectual Property; Licenses, Etc.
The Company and its Subsidiaries own, or possess the right to use, all of
the trademarks, service marks, trade names, copyrights, patents, patent rights,
franchises, licenses and other intellectual property rights (collectively,
“IP Rights”)
that are reasonably necessary for the operation of their respective businesses,
without conflict with the rights of any other Person.  To the best
knowledge of the Company, no slogan or other advertising device, product,
process, method, substance, part or other material now employed, or now
contemplated to be employed, by the Company or any Subsidiary infringes upon any
rights held by any other Person.  Set forth on Schedule 5.18 hereto
is a complete list of all patents, trademarks and copyrights of the Company and
its Subsidiaries.  No claim or litigation regarding any of the
foregoing is pending or, to the best knowledge of the Company, threatened,
which, either individually or in the aggregate, could reasonably be expected to
have a Material Adverse Effect.

     

    5.19.           Perfection of Security
Interest.  Subject to the Post Closing Letter, all filings,
assignments, pledges and deposits of documents or instruments have been made and
all other actions have been taken that are necessary or advisable, under
applicable law, to establish and perfect the Administrative Agent's first
priority security interest in the Collateral.  The Collateral and the
Administrative Agent's rights with respect to the Collateral are not subject to
any setoff, claims, withholdings or other defenses.  The Company and
each Guarantor is the owner of the Collateral free from any Lien, except for
Liens permitted pursuant to Section
7.01.

     

    5.20.           Properties.

     

     

    (a)           Each
of the Company and its Subsidiaries has good and marketable title to, or valid,
subsisting and enforceable leasehold interests in, all of its Properties
material to its business.  All machinery and equipment of each of the
Company and its Subsidiaries is in good operating condition and repair, and all
necessary replacements of and repairs thereto have be made so as to preserve and
maintain the value and operating efficiency of such machinery and
equipment.

     

    (b)           As
of the Closing Date, Schedule 5.20
annexed hereto contains a true, accurate and complete list of all fee and
leasehold real property assets of the Company and its Subsidiaries.

     

    5.21.           Solvency.  Upon and
immediately after consummation of the transactions contemplated hereby, each of
the Loan Parties is Solvent.

     

    

    
      
        
           

        

        
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    5.22.           Bank Accounts. Schedule 5.22 lists
all banks and other financial institutions at which the Company and each of its
Domestic Subsidiaries maintains deposits and/or other accounts as of the Closing
Date, and such Schedule correctly identifies the name and address of each
depository, the name in which the account is held, a description of the purpose
of the account, and the complete account number.

     

    5.23.           Obligations as Senior
Debt.  The Obligations constitute Designated Senior
Indebtedness (as defined in the Senior Subordinated Note Indenture). As such,
all of the Obligations (and the Administrative Agent and Lenders) are entitled
to the benefits of each of the subordination and other provisions contained in
the Senior Subordinated Note Indenture which are available in respect of
Designated Senior Indebtedness (and to the holders thereof), and each of such
subordination and other provisions is in full force and effect and is
enforceable in accordance with its terms.

     

    5.24.           Use of
Proceeds.  The Company and its Subsidiaries will use the
proceeds of the Loans for the purposes specified in Section 6.11 and not
for any other purpose.

     

    5.25.           Representations as to Foreign Loan
Parties.  Each of the Company and each Foreign Loan Party
represents and warrants to the Administrative Agent and the Lenders
that:

     

    (a)           Such
Foreign Loan Party is subject to civil and commercial Laws with respect to its
obligations under this Agreement and the other Loan Documents to which it is a
party (collectively as to such Foreign Loan Party, the “Applicable Foreign Loan
Party Documents”), and the execution, delivery and performance by such
Foreign Loan Party of the Applicable Foreign Loan Party Documents constitute and
will constitute private and commercial acts and not public or governmental
acts.  Neither such Foreign Loan Party nor any of its property has any
immunity from jurisdiction of any court or from any legal process (whether
through service or notice, attachment prior to judgment, attachment in aid of
execution, execution or otherwise) under the laws of the jurisdiction in which
such Foreign Loan Party is organized and existing in respect of its obligations
under the Applicable Foreign Loan Party Documents.

     

    (b)           The
Applicable Foreign Loan Party Documents are in proper legal form under the Laws
of the jurisdiction in which such Foreign Loan Party is organized and existing
for the enforcement thereof against such Foreign Loan Party under the Laws of
such jurisdiction, and to ensure the legality, validity, enforceability,
priority or admissibility in evidence of the Applicable Foreign Loan Party
Documents.  It is not necessary to ensure the legality, validity,
enforceability, priority or admissibility in evidence of the Applicable Foreign
Loan Party Documents that the Applicable Foreign Loan Party Documents be filed,
registered or recorded with, or executed or notarized before, any court or other
authority in the jurisdiction in which such Foreign Loan Party is organized and
existing or that any registration charge or stamp or similar tax be paid on or
in respect of the Applicable Foreign Loan Party Documents or any other document,
except for (i) any such filing, registration, recording, execution or
notarization as has been made or is not required to be made until the Applicable
Foreign Loan Party Document or any other document is sought to be enforced and
(ii) any charge or tax as has been timely paid.

     

    (c)           There
is no tax, levy, impost, duty, fee, assessment or other governmental charge, or
any deduction or withholding, imposed by any Governmental Authority in or of
the

     

    

    
      
        
           

        

        
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    jurisdiction
in which such Foreign Loan Party is organized and existing either (i) on or by
virtue of the execution or delivery of the Applicable Foreign Loan Party
Documents or (ii) on any payment to be made by such Foreign Loan Party pursuant
to the Applicable Foreign Loan Party Documents, except as has been disclosed to
the Administrative Agent.

     

    (d)           The
execution, delivery and performance of the Applicable Foreign Loan Party
Documents executed by such Foreign Loan Party are, under applicable foreign
exchange control regulations of the jurisdiction in which such Foreign Loan
Party is organized and existing, not subject to any notification or
authorization except (i) such as have been made or obtained or (ii) such as
cannot be made or obtained until a later date (provided that any
notification or authorization described in clause (ii) shall be made or obtained
as soon as is reasonably practicable).

     

    ARTICLE
VI.

     

    AFFIRMATIVE
COVENANTS

     

    So long
as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall
remain outstanding, the Company shall, and shall (except in the case of the
covenants set forth in Sections 6.01, 6.02, and 6.03) cause each
Subsidiary to:

     

    6.01.           Financial
Statements.  Deliver to the Administrative Agent and each
Lender, in form and detail satisfactory to the Administrative Agent and the
Required Lenders:

     

    (a)           as
soon as available, but in any event within 90 days after the end of each fiscal
year of the Company and its Subsidiaries, a consolidated and consolidating
balance sheet of the Company and its Subsidiaries as at the end of such fiscal
year, and the related consolidated and consolidating statements of income or
operations, shareholders’ equity and cash flows for such fiscal year, setting
forth in each case in comparative form the figures for the previous fiscal year,
all in reasonable detail and prepared in accordance with GAAP, such consolidated
statements to be audited and accompanied by (i) a report and opinion of a
Registered Public Accounting Firm of nationally recognized standing reasonably
acceptable to the Required Lenders, which report and opinion shall be prepared
in accordance with generally accepted auditing standards and applicable
Securities Laws and shall not be subject to any “going concern” or like
qualification or exception or any qualification or exception as to the scope of
such audit or with respect to the absence of any material misstatement and (ii)
an opinion of such Registered Public Accounting Firm independently assessing the
Company’s internal controls over financial reporting in accordance with Item 308
of SEC Regulation S-K, PCAOB Auditing Standard No. 2, and Section 404 of
Sarbanes-Oxley expressing a conclusion that contains no statement that there is
a material weakness in such internal controls, except for such material
weaknesses as to which the Administrative Agent does not object, and such
consolidating statements to be certified by the chief executive officer, chief
financial officer, treasurer or controller of the Company to the effect that
such statements are fairly stated in all material respects when considered in
relation to the consolidated financial statements of the Company and its
Subsidiaries;

     

    (b)           as
soon as available, but in any event within 45 days after the end of each of the
first three fiscal quarters of each fiscal year of the Company and its
Subsidiaries, a consolidated

     

    

    
      
        
           

        

        
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    and
consolidating balance sheet of the Company and its Subsidiaries as at the end of
such fiscal quarter, and the related consolidated and consolidating statements
of income or operations, shareholders’ equity and cash flows for such fiscal
quarter and for the portion of the Company’s fiscal year then ended, setting
forth in each case in comparative form the figures for the corresponding fiscal
quarter of the previous fiscal year and the corresponding portion of the
previous fiscal year, all in reasonable detail and certified by the chief
executive officer, chief financial officer, treasurer or controller of the
Company as fairly presenting the financial condition, results of operations,
shareholders’ equity and cash flows of the Company and its Subsidiaries in
accordance with GAAP, subject only to normal year-end audit adjustments and the
absence of footnotes; and

     

    (c)           as
soon as available, but in any event no later than 30 days after the start of
each fiscal year of the Company, budgets prepared by management of the Company,
in form satisfactory to the Administrative Agent, of consolidated and
consolidating balance sheets and statements of income or operations and cash
flows of the Company and its Subsidiaries on a quarterly basis for such fiscal
year.

     

    As to any
information contained in materials furnished pursuant to Section 6.02(c), the
Company shall not be separately required to furnish such information under
clause (a) or (b) above, but the foregoing shall not be in derogation of the
obligation of the Company to furnish the information and materials described in
clauses (a) and (b) above at the times specified therein.

     

    6.02.           Certificates; Other
Information.  Deliver to the Administrative Agent and each
Lender, in form and detail satisfactory to the Administrative Agent and the
Required Lenders:

     

    (a)           concurrently
with the delivery of the financial statements referred to in Sections 6.01(a) and (b), a duly
completed Compliance Certificate signed by the chief executive officer, chief
financial officer, treasurer or controller of the Company;

     

    (b)           promptly
after any request by the Administrative Agent or any Lender, copies of any
detailed audit reports, management letters or recommendations submitted to the
board of directors (or the audit committee of the board of directors) of the
Company by independent accountants in connection with the accounts or books of
the Company or any Subsidiary, or any audit of any of them;

     

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

     

    (d)           promptly
after the furnishing thereof, copies of any statement or report furnished to any
holder of debt securities of any Loan Party or any Subsidiary thereof pursuant
to the terms of any indenture, loan or credit or similar agreement and not
otherwise required to be furnished to the Lenders pursuant to Section 6.01 or any
other clause of this Section
6.02;

     

    

    
      
        
           

        

        
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    (e)           promptly,
and in any event within five Business Days after receipt thereof by any Loan
Party or any Subsidiary thereof, copies of each notice or other correspondence
received from the SEC (or comparable agency in any applicable non-U.S.
jurisdiction) concerning any investigation or possible investigation or other
inquiry by such agency regarding financial or other operational results of any
Loan Party or any Subsidiary thereof; and

     

    (f)           promptly,
such additional information regarding the business, financial or corporate
affairs of the Company or any Subsidiary, or compliance with the terms of the
Loan Documents, as the Administrative Agent or any Lender may from time to time
reasonably request.

     

    Documents
required to be delivered pursuant to Section 6.01(a) or
(b) or Section 6.02(c) (to
the extent any such documents are included in materials otherwise filed with the
SEC) may be delivered electronically and if so delivered, shall be deemed to
have been delivered on the date (i) on which the Company posts such documents,
or provides a link thereto on the Company’s website on the Internet at the
website address listed on Schedule 10.02; or
(ii) on which such documents are posted on the Company’s behalf on an Internet
or intranet website, if any, to which each Lender and the Administrative Agent
have access (whether a commercial, third-party website or whether sponsored by
the Administrative Agent); provided that: (i)
the Company shall deliver paper copies of such documents to the Administrative
Agent or any Lender that requests the Company to deliver such paper copies until
a written request to cease delivering paper copies is given by the
Administrative Agent or such Lender and (ii) the Company shall notify the
Administrative Agent and each Lender (by telecopier or electronic mail) of the
posting of any such documents and provide to the Administrative Agent by
electronic mail electronic versions (i.e., soft copies) of
such documents.  Except for Compliance Certificates required by Section 6.02(a), the
Administrative Agent shall have no obligation to request the delivery or to
maintain copies of the documents referred to above, and in any event shall have
no responsibility to monitor compliance by the Company with any such request for
delivery, and each Lender shall be solely responsible for requesting delivery to
it or maintaining its copies of such documents.

     

    Each
Borrower hereby acknowledges that (a) the Administrative Agent and/or the
Arranger will make available to the Lenders and the L/C Issuer materials and/or
information provided by or on behalf of such Borrower hereunder (collectively,
“Borrower
Materials”) by posting the Borrower Materials on IntraLinks or another
similar electronic system (the “Platform”) and (b)
certain of the Lenders (each, a “Public Lender”) may
have personnel who do not wish to receive material non-public information with
respect to any of the Borrowers or their respective Affiliates, or the
respective securities of any of the foregoing, and who may be engaged in
investment and other market-related activities with respect to such Persons’
securities.  Each Borrower hereby agrees that (w) all Borrower
Materials that are to be made available to Public Lenders shall be clearly and
conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word
“PUBLIC” shall appear prominently on the first page thereof; (x) by marking
Borrower Materials “PUBLIC,” the Borrowers shall be deemed to have authorized
the Administrative Agent, the Arranger, the L/C Issuer and the Lenders to treat
such Borrower Materials as not containing any material non-public information
with respect to the Borrowers or their respective securities for purposes of
United States Federal and state securities laws (provided, however, that to the
extent such Borrower Materials constitute Information, they

     

    

    
      
        
           

        

        
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    shall be
treated as set forth in Section 10.07); (y) all
Borrower Materials marked “PUBLIC” are permitted to be made available through a
portion of the Platform designated “Public Side Information;” and (z) the
Administrative Agent and the Arranger shall be entitled to treat any Borrower
Materials that are not marked “PUBLIC” as being suitable only for posting on a
portion of the Platform not designated “Public Side Information.”

     

    6.03.           Notices.  Promptly
notify the Administrative Agent and each Lender of:

     

    (a)           the
occurrence of any Default;

     

    (b)           any
matter that has resulted or could reasonably be expected to result in a Material
Adverse Effect, including (i) breach or non-performance of, or any default
under, a Contractual Obligation of the Company or any Subsidiary; (ii) any
dispute, litigation, investigation, proceeding or suspension between the Company
or any Subsidiary and any Governmental Authority; or (iii) the commencement of,
or any material development in, any litigation or proceeding affecting the
Company or any Subsidiary, including pursuant to any applicable Environmental
Laws;

     

    (c)           the
occurrence of any ERISA Event;

     

    (d)           any
material change in accounting policies or financial reporting practices by the
Company or any Subsidiary, including any determination by the Company referred
to in Section
2.10(b); and

     

    (e)           the
determination by the Registered Public Accounting Firm providing the opinion
required under Section
6.01(a)(ii) (in connection with its preparation of such opinion) or the
Company’s determination at any time of the occurrence or existence of any
Internal Control Event.

     

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

     

    6.04.           Payment of
Obligations.  Pay and discharge as the same shall become due
and payable, all its obligations and liabilities, including (a) all tax
liabilities, assessments and governmental charges or levies upon it or its
properties or assets, unless the same are being contested in good faith by
appropriate proceedings diligently conducted and adequate reserves in accordance
with GAAP are being maintained by the Company or such Subsidiary; (b) all lawful
claims which, if unpaid, would by law become a Lien upon its property; and (c)
all Indebtedness, as and when due and payable, but subject to any subordination
provisions contained in any instrument or agreement evidencing such
Indebtedness.

     

    6.05.           Preservation of Existence,
Etc.  (a) Preserve, renew and maintain in full force and effect
its legal existence and good standing under the Laws of the jurisdiction of its
organization except in a transaction permitted by Section 7.04 or 7.05; (b) take all
reasonable action to maintain all rights, privileges, permits, licenses and
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    the
normal conduct of its business, except to the extent that failure to do so could
not reasonably be expected to have a Material Adverse Effect; and (c) preserve
or renew all of its registered patents, trademarks, trade names and service
marks, the non-preservation of which could reasonably be expected to have a
Material Adverse Effect.

     

    6.06.           Maintenance of
Properties.  (a) Maintain, preserve and protect all of its
material properties and equipment necessary in the operation of its business in
good working order and condition, ordinary wear and tear excepted; (b) make all
necessary repairs thereto and renewals and replacements thereof except where the
failure to do so could not reasonably be expected to have a Material Adverse
Effect; and (c) use the standard of care typical in the industry in the
operation and maintenance of its facilities.

     

    6.07.           Maintenance of
Insurance.  Maintain with financially sound and reputable
insurance companies not Affiliates of the Company, insurance with respect to its
properties and business against loss or damage of the kinds customarily insured
against by Persons engaged in the same or similar business, of such types and in
such amounts (after giving effect to any insurance coverage from CM Insurance
Company, Inc. compatible with the following standards) as are customarily
carried under similar circumstances by such other Persons and providing for not
less than 30 days’ prior notice to the Administrative Agent of termination,
lapse or cancellation of such insurance.

     

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

     

    6.09.           Books and
Records.  (a) Maintain proper books of record and account, in
which full, true and correct entries in conformity with GAAP consistently
applied shall be made of all financial transactions and matters involving the
assets and business of the Company or such Subsidiary, as the case may be; and
(b) maintain such books of record and account in material conformity with all
applicable requirements of any Governmental Authority having regulatory
jurisdiction over the Company or such Subsidiary, as the case may
be.

     

    6.10.           Inspection
Rights.  Permit representatives and independent contractors of
the Administrative Agent and each Lender to visit and inspect any of its
properties, to examine its corporate, financial and operating records, and make
copies thereof or abstracts therefrom, and to discuss its affairs, finances and
accounts with its directors, officers, and independent public accountants, all
at the expense of the Company and at such reasonable times during normal
business hours and as often as may be reasonably desired, upon reasonable
advance notice to the Company; provided, however, that when an
Event of Default exists the Administrative Agent or any Lender (or any of their
respective representatives or independent contractors) may do any of the
foregoing at the expense of the Company at any time during normal business hours
and without advance notice.

     

    

    
      
        
           

        

        
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    6.11.           Use of
Proceeds.  Use the proceeds of the Credit Extensions for (a)
general corporate purposes, including working capital, capital expenditures and
other lawful corporate purposes and (b) to finance acquisitions permitted
pursuant to Section 7.02.

     

    6.12.           Additional
Guarantors and Pledgors.

     

    (a)           Notify
the Administrative Agent at the time that any Person becomes a Subsidiary and
promptly thereafter (and in any event within 30 days), (i) provided that such
Subsidiary is either a Significant Subsidiary or a Foreign Subsidiary of a
Foreign Loan Party, cause such Person to (x) guaranty all Obligations (or, if
such Person is a Foreign Subsidiary and (A) executing a Guaranty would result in
a materially adverse tax consequence to the Loan Parties, all Foreign Loan Party
Obligations or (B) if the Company determines in good faith that a guaranty of
all Obligations or all Foreign Obligations by any such Foreign Subsidiary would
not be advisable due to local solvency or similar restrictions, all Obligations
of its parent that is a Foreign Borrower), by executing and delivering to the
Administrative Agent a Guaranty or such other document as the Administrative
Agent shall deem appropriate for such purpose and (y) secure all of its
Obligations as described in Section 2.15 by
providing the Administrative Agent with a first priority perfected security
interest (subject only to Liens permitted by Section 7.01 entitled
to priority under applicable law) on its assets and by executing a security
agreement and such other documents as the Administrative Agent shall deem
appropriate for such purpose, (ii) if such Subsidiary is a Domestic Subsidiary,
a Foreign Subsidiary of a Foreign Loan Party or a first-tier Foreign Subsidiary
of a Domestic Loan Party, the parent entity of such Person shall pledge the
equity of such Subsidiary as security for the Obligations; provided that, such equity
pledge shall be limited to 65% of the capital stock of such Foreign Subsidiary
to the extent the pledge secures Domestic Loan Party Obligations and a pledge of
any greater percentage would result in material adverse tax consequences to any
Loan Party (for the avoidance of doubt, to the extent the equity pledge of the
Foreign Subsidiary secures Foreign Loan Party Obligations or Obligations of any
particular Foreign Loan Party, such limitation shall not apply), and (iii)
deliver to the Administrative Agent documents of the types referred to in
clauses (v) and (vi) of Section 4.01(a) and
favorable opinions of counsel to such Person (which shall cover, among other
things, the legality, validity, binding effect and enforceability of the
documentation referred to in clauses (i) and (ii)), all in form, content and
scope reasonably satisfactory to the Administrative Agent.

     

    (b)           Prior
to any Domestic Subsidiary becoming a Designated Borrower (i) cause such Person
to (x) guaranty all Obligations by executing and delivering to the
Administrative Agent a Guaranty or such other document as the Administrative
Agent shall deem appropriate for such purpose and (y) secure all of its
Obligations as described in Section 2.15 by
providing the Administrative Agent with a first priority perfected security
interest (subject only to Liens permitted by Section 7.01 entitled
to priority under applicable law) on its assets and executing a security
agreement and such other documents as the Administrative Agent shall deem
appropriate for such purpose, (ii) the parent entity of such Person shall pledge
the equity of such Subsidiary as security for the Obligations, and (iii) deliver
to the Administrative Agent documents of the types referred to in clauses (v)
and (vi) of Section
4.01(a) and favorable opinions of counsel to such Person (which shall
cover, among other things, the legality, validity, binding effect and
enforceability of the documentation referred to in clauses (i) and (ii)), all in
form, content and scope reasonably satisfactory to the Administrative
Agent.

     

    

    
      
        
           

        

        
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    (c)           Prior
to any Foreign Subsidiary becoming a Designated Borrower, (i) cause such Person
and such Person’s Subsidiaries to (x) guaranty all Obligations (or, if such
Person is a Foreign Subsidiary and (A) executing a Guaranty would result in a
materially adverse tax consequence to the Loan Parties, all Foreign Loan Party
Obligations or (B) if the Company determines in good faith that a guaranty of
all Obligations or all Foreign Obligations by any such Person would not be
advisable due to local solvency or similar restrictions, all Obligations of its
parent that is a Foreign Borrower) by executing and delivering to the
Administrative Agent a Guaranty or such other document as the Administrative
Agent shall deem appropriate for such purpose and (y) secure all of their
Obligations as described in Section 2.15 by
providing the Administrative Agent with a first priority perfected security
interest (subject only to Liens permitted by Section 7.01 entitled
to priority under applicable law) on its assets and by executing a security
agreement and such other documents as the Administrative Agent shall deem
appropriate for such purpose, (ii) the parent entity of such Person shall pledge
the equity of such Subsidiary as security for the Obligations; provided that, such equity
pledge shall be limited to 65% of the capital stock of such Foreign Subsidiary
to the extent the pledge secures Domestic Loan Party Obligations and a pledge of
any greater percentage would result in material adverse tax consequences to any
Loan Party (for the avoidance of doubt, to the extent the equity pledge of the
Foreign Subsidiary secures Foreign Loan Party Obligations, such limitation shall
not apply), and (iii) deliver to the Administrative Agent documents of the types
referred to in clauses (v) and (vi) of Section 4.01(a) and
favorable opinions of counsel to such Person (which shall cover, among other
things, the legality, validity, binding effect and enforceability of the
documentation referred to in clauses (i) and (ii)), all in form, content and
scope reasonably satisfactory to the Administrative Agent.

     

    (d)           Prior
to any Foreign Subsidiary becoming a Designated Borrower, each Borrower shall
have executed a Guaranty in form and substance satisfactory to the
Administrative Agent.

     

    (e)           Notwithstanding
anything to the contrary contained in this Section 6.12, the
Company may exclude any Foreign Subsidiary of any Foreign Borrower from the
requirement that such Subsidiary execute a Guaranty and Security Agreement to
the extent and for so long as (i) such Foreign Borrower and its Foreign
Subsidiaries that have executed a Guaranty and Security Agreement account for at
least 50% of the assets of such Foreign Borrower and its Foreign Subsidiaries
and (ii) no Loan proceeds are made available to such Foreign
Subsidiary.

     

    6.13.           Mortgages.  The
Obligations shall be secured by Mortgages upon (i) all fee real estate assets of
the Loan Parties located in the United States, other than the real estate
located at 1113 South Greenwood Avenue, Chattanooga, Tennessee and the property
located at Allin Street, Chattanooga, Tennessee, (ii) material leasehold real
estate assets of the Loan Parties described on Schedule 6.13, and
(iii) upon the request of Administrative Agent, all material fee real estate
assets of any Foreign Borrower or any Subsidiary thereof.  If any Loan
Party acquires any fee or leasehold real estate interest after the Closing Date,
it shall promptly notify the Administrative Agent thereof and shall, if such
real estate interest is deemed by the Administrative Agent to be material,
execute, deliver and record a Mortgage sufficient to create a first priority
Lien in favor of Administrative Agent on such real estate, and shall deliver all
Related Real Estate Documents in connection therewith that may be required by
the Administrative Agent in its reasonable discretion.

     

    

    
      
        
           

        

        
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    6.14.           Approvals and
Authorizations.  Maintain all authorizations, consents,
approvals and licenses from, exemptions of, and filings and registrations with,
each Governmental Authority of the jurisdiction in which each Foreign Loan Party
is organized and existing, and all approvals and consents of each other Person
in such jurisdiction, in each case that are required in connection with the Loan
Documents.

     

    ARTICLE
VII.

     

    NEGATIVE
COVENANTS

     

    So long
as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall
remain outstanding, the Company shall not, nor shall it permit any Subsidiary
to, directly or indirectly:

     

    7.01.           Liens.  Create,
incur, assume or suffer to exist any Lien upon any of its property, assets or
revenues, whether now owned or hereafter acquired, other than the
following:

     

    (a)           Liens
created pursuant to any Loan Document;

     

    (b)           Liens
existing on the Closing Date and listed on Schedule 7.01 and any
renewals or extensions thereof, provided that (i) the
property covered thereby is not changed, (ii) the amount secured or benefited
thereby is not increased except as contemplated by Section 7.03(b),
(iii) the direct or any contingent obligor with respect thereto is not changed,
and (iv) any renewal or extension of the obligations secured or benefited
thereby is permitted by Section
7.03(b);

     

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

     

    (d)           carriers’,
warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens
arising in the ordinary course of business which are not overdue for a period of
more than 30 days or which are being contested in good faith and by appropriate
proceedings diligently conducted, if adequate reserves with respect thereto are
maintained on the books of the applicable Person;

     

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

     

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

     

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

     

    

    
      
        
           

        

        
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    (h)           Liens
securing judgments for the payment of money not constituting an Event of Default
under Section
8.01(h); and

     

    (i)           Liens
securing Indebtedness permitted under Section 7.03(e);
provided that
(i) such Liens do not at any time encumber any property other than the property
financed by such Indebtedness and (ii) the Indebtedness secured thereby does not
exceed the cost or fair market value, whichever is lower, of the property being
acquired on the date of acquisition.

     

    7.02.           Investments.  Make
any Investments, except:

     

    (a)           Investments
held by the Company or such Subsidiary in the form of cash equivalents or
short-term marketable debt securities;

     

    (b)           Investments
of the Company and/or its Subsidiaries in any of the Company’s Foreign
Subsidiaries; provided that the aggregate
amount of such Investments made from and after the Closing Date does not exceed
$10,000,000;

     

    (c)           advances
to officers, directors and employees of the Company and Subsidiaries in an
aggregate amount not to exceed $500,000 at any time outstanding, for travel,
entertainment, relocation and analogous ordinary business purposes;

     

    (d)           Investments
of the Company in any Domestic Loan Party and/or Audubon Europe (provided that
Audubon Europe is a Loan Party at such time) and Investments of any Subsidiary
in the Company or in a Domestic Loan Party and/or Audubon Europe (provided that
Audubon Europe is a Loan Party at such time);

     

    (e)           Investments
consisting of extensions of credit in the nature of accounts receivable or notes
receivable arising from the grant of trade credit in the ordinary course of
business, and Investments received in satisfaction or partial satisfaction
thereof from financially troubled account debtors to the extent reasonably
necessary in order to prevent or limit loss;

     

    (f)           Guarantees
permitted by Section
7.03;

     

    (g)           Investments
held in the investment portfolio of CM Insurance Company, Inc. of the type and
in amounts in the ordinary course of business of CM Insurance Company, Inc. and
consistent with past practices;

     

    (h)           the
acquisition as described to the Administrative Agent prior to the Closing Date;
provided that (i) immediately
prior to and after the making of such acquisition, and after giving effect
thereto, no Default or Event of Default shall have occurred and be continuing,
(ii) the terms and conditions of such acquisition shall be reasonably acceptable
to the Administrative Agent, (iii) such acquisition is consummated on or prior
to June 30, 2010, and (iv) prior to making such acquisition, the Company shall
have furnished the Administrative Agent with a Compliance Certificate, in form
and substance satisfactory to the Administrative Agent, demonstrating the
Company’s compliance, on a pro forma basis after giving effect to such
acquisition, with the financial covenants set forth in Section 7.11 hereof as of
the end of the most recently ended fiscal quarter; and

     

    

    
      
        
           

        

        
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    (i)           other
Investments; provided that (i) immediately
prior to and after the making of such Investment, and after giving effect
thereto, no Default or Event of Default shall have occurred and be continuing,
(ii) the aggregate amount of such Investments made from and after the Closing
Date does not exceed $25,000,000 and (iii) prior to making (A) any Investment
constituting the acquisition of all or substantially all of the assets or stock
of, or the line of business of, any Person or (B) any other Investment with an
aggregate consideration paid or payable by the Company and its Subsidiaries in
excess of $5,000,000, the Company shall have furnished the Administrative Agent
with a Compliance Certificate, in form and substance satisfactory to the
Administrative Agent, demonstrating the Company’s compliance, on a pro forma
basis after giving effect to such acquisition or other Investment, with the
financial covenants set forth in Section 7.11 hereof as of the end of the most
recently ended fiscal quarter.

     

    7.03.           Indebtedness.  Create,
incur, assume or suffer to exist any Indebtedness, except:

     

    (a)           Indebtedness
under the Loan Documents;

     

    (b)           Indebtedness
outstanding on the Closing Date and listed on Schedule 7.03 and any
refinancings, refundings, renewals or extensions thereof; provided that (i) the
amount of such Indebtedness is not increased at the time of such refinancing,
refunding, renewal or extension except by an amount equal to a reasonable
premium or other reasonable amount paid, and fees and expenses reasonably
incurred, in connection with such refinancing and by an amount equal to any
existing commitments unutilized thereunder and (ii) the terms relating to the
obligors and guarantors of such Indebtedness, the principal amount,
amortization, maturity, collateral (if any) and subordination (if any), and
other material terms taken as a whole, of any such refinancing, refunding,
renewing or extending Indebtedness, and of any agreement entered into and of any
instrument issued in connection therewith, are no less favorable in any material
respect to the Loan Parties or the Lenders than the terms of any agreement or
instrument governing the Indebtedness being refinanced, refunded, renewed or
extended and the interest rate applicable to any such refinancing, refunding,
renewing or extending Indebtedness does not exceed the then applicable market
interest rate;

     

    (c)           Guarantees
of the Company or any Guarantor in respect of Indebtedness otherwise permitted
hereunder of the Company, any Domestic Loan Party or Audubon Europe (provided
that Audubon Europe is a Loan Party at such time);

     

    (d)           obligations
(contingent or otherwise) of the Company or any Subsidiary existing or arising
under any Swap Contract, provided that (i)
such obligations are (or were) entered into by such Person in the ordinary
course of business for the purpose of directly mitigating risks associated with
liabilities, commitments, investments, assets, or property held or reasonably
anticipated by such Person, or changes in the value of securities issued by such
Person, and not for purposes of speculation or taking a “market view;” and (ii)
such Swap Contract does not contain any provision exonerating the non-defaulting
party from its obligation to make payments on outstanding transactions to the
defaulting party;

     

    (e)           Indebtedness
of the Company in respect of capital leases, Synthetic Lease Obligations and
purchase money obligations for fixed or capital assets within the limitations
set forth in Section
7.01(i); provided, however, that (i) the
aggregate amount of such Indebtedness

     

    

    
      
        
           

        

        
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    (other
than Indebtedness in respect of the PILOT Leases) at any one time outstanding
shall not exceed $15,000,000 and (ii) the aggregate amount of Indebtedness in
respect of the PILOT Leases shall not exceed $11,000,000;

     

    (f)           [Intentionally
Omitted];

     

    (g)           intercompany
loans among the Company and the Loan Parties which are Domestic Subsidiaries or
Audubon Europe (provided that Audubon Europe is a Loan Party at such time);
provided, that (i) the Investment corresponding to such Indebtedness is
permitted pursuant to Section 7.02 hereof,
(ii) such intercompany loan is evidenced by a promissory note, (iii) such
promissory note is pledged to the Administrative Agent as security, and (iv)
there are no restrictions whatsoever on the ability of the applicable Loan Party
to repay such loan;

     

    (h)           Indebtedness
of any Foreign Subsidiary in an aggregate amount for all such Indebtedness not
to exceed the local currency equivalent (as determined by the Administrative
Agent form time to time by reference to the Spot Rate) of $30,000,000 in the
aggregate at any one time outstanding; provided that (i) the proceeds
of such Indebtedness are used for working capital needs, capital expenditures
and the acquisition of assets or equity interests permitted pursuant to Section 7.02, (ii)
such Indebtedness is incurred solely by such Foreign Subsidiary, (iii) such
Indebtedness is either unsecured or, if such Foreign Subsidiary is not a Loan
Party is secured only by the assets of such Foreign Subsidiary and (iv) except
as permitted under Section 7.02(b) or
Section
7.02(i), no guaranty or other credit support of any kind is provided by
any Person (including, without limitation, any Loan Party) of or for such
Indebtedness or any holder thereof; and provided, further, that the Company
shall notify the Administrative Agent in writing in advance prior to permitting
such Foreign Subsidiary to incur any Indebtedness in excess of $1,000,000 under
this Section
7.03(h);

     

    (i)           Indebtedness
of any Foreign Subsidiary owing to any Loan Party provided that the Investment
corresponding to such Indebtedness is permitted pursuant to Section
7.02(b);

     

    (j)           Indebtedness
of the Company in an aggregate principal amount not to exceed $125,000,000,
evidenced by or incurred under the Senior Subordinated Note Documents, and any
refinancings, refundings, renewals or extensions thereof so long as (i) the
principal amount of such Indebtedness is not increased, (ii) such Indebtedness
remains subordinated to the Obligations to the same extent as on the Closing
Date and (iii) the terms of such refinancing, refunding, renewal or extension
are acceptable to the Administrative Agent;

     

    (k)           Indebtedness
of the Company in respect of unsecured Guarantees issued by the Company in the
ordinary course of business in an amount not to exceed $20,000,000 at any time;
and

     

    (l)           other
unsecured Indebtedness of the Company and its Domestic Subsidiaries in a
principal amount outstanding at any one time not exceeding
$10,000,000.

     

    7.04.           Fundamental
Changes.  Merge, dissolve, liquidate, consolidate with or into
another Person, or Dispose of (whether in one transaction or in a series of
transactions) all or substantially all of its assets (whether now owned or
hereafter acquired) to or in favor of any Person, except that, so long as no
Default exists or would result therefrom:

     

    

    
      
        
           

        

        
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    (a)           any
Subsidiary may merge with (i) the Company, provided that the
Company shall be the continuing or surviving Person, or (ii) any one or more
other Subsidiaries, provided that (x)
when any Loan Party is merging with another Subsidiary, the Loan Party shall be
the continuing or surviving Person or the surviving Person shall become a Loan
Party and (y) when a Domestic Loan Party is a party to such merger, such
Domestic Loan Party or Audubon Europe (provided that Audubon Europe is a Loan
Party at such time) shall be the continuing or surviving person;
and

     

    (b)           any
Subsidiary may Dispose of all or substantially all of its assets (upon voluntary
liquidation or otherwise) to the Company or to another Subsidiary; provided that (x) if
the transferor in such a transaction is a Loan Party, then the transferee must
either be the Company or a Loan Party or become a Loan Party and (y) if the
transferor is a Domestic Loan Party, then the transferee must be a Domestic Loan
Party or Audubon Europe (provided that Audubon Europe is a Loan Party at such
time).

     

    7.05.           Dispositions.  Make
any Disposition or enter into any agreement to make any Disposition,
except:

     

    (a)           Dispositions
of obsolete or worn out property, whether now owned or hereafter acquired, in
the ordinary course of business;

     

    (b)           Dispositions
of inventory in the ordinary course of business;

     

    (c)           Dispositions
of equipment or real property to the extent that (i) such property is exchanged
for credit against the purchase price of similar replacement property or (ii)
the proceeds of such Disposition are reasonably promptly applied to the purchase
price of such replacement property;

     

    (d)           Dispositions
of property by any Subsidiary to the Company or to a wholly-owned Subsidiary;
provided that
(i) if the transferor of such property is a Loan Party, the transferee thereof
must be a Loan Party or become a Loan Party and (ii) if the transferor is a
Domestic Loan Party, then the transferee must be a Domestic Loan Party or
Audubon Europe (provided that Audubon Europe is a Loan Party at such
time);

     

    (e)           Dispositions
permitted by Section
7.04;

     

    (f)           other
than as set forth on Schedule 7.05,
non-exclusive licenses of IP Rights in the ordinary course of business and
substantially consistent with past practice for terms not exceeding five
years;

     

    (g)           Dispositions
by the Company and its Subsidiaries not otherwise permitted under this Section 7.05; provided that (i) at
the time of such Disposition, no Default shall exist or would result from such
Disposition and (ii) the aggregate book value of all property Disposed of in
reliance on this clause (g) in any fiscal year shall not exceed
$2,000,000;

     

    (h)           Dispositions
of any Specified Business on terms and conditions acceptable to the
Administrative Agent; and

     

    

    
      
        
           

        

        
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    (i)           Dispositions
of the real property owned by the Loan Parties on the Closing Date and located
in (i) Greensburg, Indiana, (ii) Cedar Rapids, Iowa and (iii) Muskegon,
Michigan, in each case on terms and conditions acceptable to the Administrative
Agent;

     

    provided, however, that any
Disposition pursuant to clauses (a) through (i) shall be for fair market
value.

     

    7.06.           Restricted
Payments.  Declare or make, directly or indirectly, any
Restricted Payment, or incur any obligation (contingent or otherwise) to do so,
except that, so long as no Default shall have occurred and be continuing at the
time of any action described below or would result therefrom:

     

    (a)           each
Subsidiary may make Restricted Payments to the Borrowers, the Guarantors and any
other Person that owns an Equity Interest in such Subsidiary, ratably according
to their respective holdings of the type of Equity Interest in respect of which
such Restricted Payment is being made;

     

    (b)           the
Company and each Subsidiary may declare and make dividend payments or other
distributions payable solely in the common stock or other common Equity
Interests of such Person;

     

    (c)           the
Company and each Subsidiary may purchase, redeem or otherwise acquire Equity
Interests issued by it with the proceeds received from the substantially
concurrent issue of new shares of its common stock or other common Equity
Interests;

     

    (d)           payments
with respect to any intercompany loan permitted under Section
7.03(g);

     

    (e)           the
Company may (i) declare or pay cash dividends to its stockholders and (ii)
purchase, redeem or otherwise acquire for cash Equity Interests issued by it so
long as, in each case, after giving effect thereto (A) no Default or Event of
Default has occurred and is continuing or would result therefrom and (B) the
aggregate amount of such dividends, purchases, redemptions, retirements and
acquisitions paid or made during any calendar year would not exceed 25% of
Consolidated Net Income for such year;

     

    (f)           during
each of the fiscal years ending March 31, 2011, March 31, 2012 and March 31,
2013, the Company may make prepayments or purchases of principal in respect of
the Senior Subordinated Notes, so long as (i) no Default or Event of Default has
occurred and is continuing or would result therefrom, (ii) such prepayments or
purchases do not exceed $10,000,000 in any such fiscal year (it being understood
that no unused portion in any fiscal year may be carried over to the next fiscal
year), (iii) such prepayments or purchases are made by the Company with cash on
hand and not with proceeds of Credit Extensions hereunder and (iv) the cash on
hand of the Company and the Domestic Subsidiaries, after giving pro forma effect
to such prepayment or purchase, shall not be less than $25,000,000;
and

     

    (g)           the
Company may make prepayments or purchases of principal in respect of the Senior
Subordinated Notes, so long as (i) no Default or Event of Default has occurred
and is continuing or would result therefrom, and (ii) such prepayments or
purchases are made with the proceeds of Indebtedness permitted by Section
7.03(j).

     

    

    
      
        
           

        

        
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    7.07.           Change in Nature of
Business.  Engage in any material line of business
substantially different from those lines of business conducted by the Company
and its Subsidiaries on the Closing Date or any business substantially related
or incidental thereto.

     

    7.08.           Transactions with
Affiliates.  Enter into any transaction of any kind with any
Affiliate of the Company, whether or not in the ordinary course of business,
other than on fair and reasonable terms substantially as favorable to the
Company or such Subsidiary as would be obtainable by the Company or such
Subsidiary at the time in a comparable arm’s length transaction with a Person
other than an Affiliate.

     

    7.09.           Burdensome
Agreements.  Except as set forth on Schedule 7.09, enter
into any Contractual Obligation (other than this Agreement or any other Loan
Document) that (a) limits the ability (i) of any Subsidiary to make Restricted
Payments to the Company or any Loan Party or to otherwise transfer property to
the Company or any Loan Party, (ii) of any Subsidiary to Guarantee the
Indebtedness of the Company or any Loan Party or (iii) of the Company or any
Subsidiary to create, incur, assume or suffer to exist Liens on property of such
Person; provided, however, that this
clause (iii) shall not prohibit any negative pledge incurred or provided in
favor of any holder of Indebtedness permitted under Section 7.03(e)
solely to the extent any such negative pledge relates to the property financed
by or the subject of such Indebtedness; or (b) requires the grant of a Lien to
secure an obligation of such Person if a Lien is granted to secure another
obligation of such Person.

     

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

     

    7.11.           Financial
Covenants.

     

    (a)           Minimum Fixed Charge Coverage Ratio.
Permit the Fixed Charge Coverage Ratio, as at the end of any fiscal
quarter, to be less than 1.25:1.

     

    (b)           Total Leverage Ratio.  Permit the Total
Leverage Ratio, as at the end of any fiscal quarter, to be greater than (i) for
the fiscal quarters ending on or about December 31, 2009, March 31, 2010, and
June 30, 2010, 3.75:1 and (ii) for each fiscal quarter ending thereafter,
3.50:1.

     

    7.12.           Modifications of Certain Documents;
Designation of Senior Debt.  Consent to any amendment or
modification of or supplement to any of the provisions of any documents or
agreements evidencing or governing the Senior Subordinated Notes or any other
existing Indebtedness set forth on Schedule
7.03.  The Loan Parties will designate the Credit Agreement and
the Obligations hereunder as “Designated Senior Indebtedness” under the Senior
Subordinated Note Indenture, and will not designate any other Indebtedness as
“Designated Senior Indebtedness” under the Senior Subordinated Note
Indenture.

     

    7.13.           Sale-Leaseback
Transactions.

     

    Directly
or indirectly, enter into any arrangements with any Person whereby such Person
shall sell or transfer (or request another Person to purchase) any

     

    

    
      
        
           

        

        
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    property,
real, personal or mixed, used or useful in its business, whether now owned or
hereafter acquired, and thereafter rent or lease such property from any
Person.

     

    7.14.           Capital
Expenditures.

     

    Make or
become legally obligated to make any expenditure in respect of the purchase or
other acquisition of any fixed or capital asset (excluding normal replacements
and maintenance which are properly charged to current operations), except for
(a) capital expenditures in the ordinary course of business not exceeding, in
the aggregate for the Company and it Subsidiaries, (i) $15,000,000 during the
fiscal year ended March 31, 2010 and (ii) $18,000,000 during each fiscal year
thereafter and (b) capital expenditures made in connection with the Global
Systems Development IT project not exceeding, in the aggregate for the Company
and it Subsidiaries, $15,000,000 during the term of this Agreement.

     

    ARTICLE
VIII.

     

    EVENTS
OF DEFAULT AND REMEDIES

     

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

     

    (a)           Non-Payment. Any
Borrower or any other Loan Party fails to pay (i) when and as required to be
paid herein, and in the currency required hereunder, any amount of principal of
any Loan or any L/C Obligation, or (ii) within three days after the same becomes
due, any interest on any Loan or on any L/C Obligation, or any fee due
hereunder, or (iii) within five days after the same becomes due, any other
amount payable hereunder or under any other Loan Document; or

     

    (b)           Specific
Covenants.  The Company fails to perform or observe any term,
covenant or agreement contained in any of Section 6.01, 6.02, 6.03, 6.05, 6.06, 6.07, 6.10, 6.11, 6.12 or 6.13 or Article VII;
or

     

    (c)           Other
Defaults.  Any Loan Party fails to perform or observe any other
covenant or agreement (not specified in subsection (a) or (b) above) contained
in any Loan Document on its part to be performed or observed and such failure
continues for 30 days; or

     

    (d)           Representations and
Warranties.  Any representation, warranty, certification or
statement of fact made or deemed made by or on behalf of the Company or any
other Loan Party herein, in any other Loan Document, or in any document
delivered in connection herewith or therewith shall be incorrect or misleading
when made or deemed made; or

     

    (e)           Cross-Default.  (i)
The Company or any Subsidiary (A) fails to make any payment when due (whether by
scheduled maturity, required prepayment, acceleration, demand, or otherwise) in
respect of any (x) Indebtedness or Guarantee (other than Indebtedness hereunder
and Indebtedness under Swap Contracts) having an aggregate principal amount
(including undrawn committed or available amounts and including amounts owing to
all creditors under any combined or syndicated credit arrangement) of more than
the Threshold Amount, or (y) Material Rental Obligation, (B) fails to observe or
perform any other agreement or condition relating to any such Indebtedness,
Material Rental Obligation or Guarantee or contained in any instrument or
agreement evidencing, securing or relating thereto, or any other event occurs,
the effect of

     

    

    
      
        
           

        

        
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    which
default or other event is to (x) cause, or to permit the holder or holders of
such Indebtedness or the beneficiary or beneficiaries of such Material Rental
Obligation or Guarantee (or a trustee or agent on behalf of such holder or
holders or beneficiary or beneficiaries) to cause, with the giving of notice if
required, such Indebtedness or Material Rental Obligation to be demanded or to
become due or to be repurchased, prepaid, defeased or redeemed (automatically or
otherwise), or an offer to repurchase, prepay, defease or redeem such
Indebtedness to be made, prior to its stated maturity, or such Guarantee to
become payable or cash collateral in respect thereof to be demanded or (y) cause
or permit the lease with respect to any Material Rental Obligation of the
Company or any of its Subsidiaries to be terminated prior to its scheduled
expiration date; or (ii) there occurs under any Swap Contract an Early
Termination Date (as defined in such Swap Contract) resulting from (A) any event
of default under such Swap Contract as to which the Company or any Subsidiary is
the Defaulting Party (as defined in such Swap Contract) or (B) any Termination
Event (as so defined) under such Swap Contract as to which the Company or any
Subsidiary is an Affected Party (as so defined) and, in either event, the Swap
Termination Value owed by the Company or such Subsidiary as a result thereof is
greater than the Threshold Amount; or

     

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

     

    (g)           Inability to Pay Debts;
Attachment.  (i) The Company or any Subsidiary becomes unable
or admits in writing its inability or fails generally to pay its debts as they
become due, or (ii) any writ or warrant of attachment or execution or similar
process is issued or levied against all or any material part of the property of
any such Person and is not released, vacated or fully bonded within 30 days
after its issue or levy; or

     

    (h)           Judgments.  There
is entered against the Company or any Subsidiary (i) one or more final judgments
or orders for the payment of money in an aggregate amount (as to all such
judgments or orders) exceeding the Threshold Amount (to the extent not covered
by CM Insurance Company, Inc. or independent third-party insurance as to which
CM Insurance Company, Inc. or such third-party insurer, as the case may be, does
not dispute coverage), or (ii) any one or more non-monetary final judgments that
have, or could reasonably be expected to have, individually or in the aggregate,
a Material Adverse Effect and, in either case, (A) enforcement proceedings are
commenced by any creditor upon such judgment or order, or (B) there is a period
of 30 consecutive days during which a stay of enforcement of such judgment, by
reason of a pending appeal or otherwise, is not in effect; or

     

    (i)           ERISA.  (i)
An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which
has resulted or could reasonably be expected to result in liability
of

     

    

    
      
        
           

        

        
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    the
Company under Title IV of ERISA to the Pension Plan, Multiemployer Plan or
the PBGC in an aggregate amount in excess of the Threshold Amount, or (ii) the
Company or any ERISA Affiliate fails to pay when due, after the expiration of
any applicable grace period, any installment payment with respect to its
withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in
an aggregate amount in excess of the Threshold Amount;

     

    (j)           Invalidity of Loan
Documents.  Any provision of any Loan Document, at any time
after its execution and delivery and for any reason other than as expressly
permitted hereunder or thereunder or satisfaction in full of all the
Obligations, ceases to be in full force and effect; or any Loan Party or any
other Person contests in any manner the validity or enforceability of any
provision of any Loan Document; or any Loan Party denies that it has any or
further liability or obligation under any Loan Document, or purports to revoke,
terminate or rescind any provision of any Loan Document; or

     

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

     

    (l)           Invalidity of
Liens.  Any of the following shall occur: (i) the Liens created
hereunder or under the other Loan Documents shall at any time (other than by
reason of the Administrative Agent relinquishing such Lien) cease to constitute
valid and perfected Liens on any Collateral with an aggregate fair market value
in excess of $500,000 which is intended to be covered thereby other than with
the consent, in writing, of the Administrative Agent; (ii) except for expiration
in accordance with its respective terms, any Loan Document shall for whatever
reason be terminated, or shall cease to be in full force and effect other than
with the consent, in writing, of the Administrative Agent; or (iii) the
enforceability of any Loan Document shall be contested by the Company or any of
its Subsidiaries.

     

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

     

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

     

    (b)           declare
the unpaid principal amount of all outstanding Loans, all interest accrued and
unpaid thereon, and all other amounts owing or payable hereunder or under any
other Loan Document to be immediately due and payable, without presentment,
demand, protest or other notice of any kind, all of which are hereby expressly
waived by the Borrowers;

     

    (c)           require
that the Borrowers Cash Collateralize the L/C Obligations (in an amount equal to
103% of the then Outstanding Amount thereof); and

     

    (d)           exercise
on behalf of itself, the Lenders and the L/C Issuer all rights and remedies
available to it, the Lenders and the L/C Issuer under the Loan Documents;
provided, however, that upon
the occurrence of an actual or deemed entry of an order for relief with respect
to any Borrower under the Bankruptcy Code of the United States, the obligation
of each Lender to make Loans and any obligation of the L/C Issuer to make
L/C

     

    

    
      
        
           

        

        
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    Credit
Extensions shall automatically terminate, the unpaid principal amount of all
outstanding Loans and all interest and other amounts as aforesaid shall
automatically become due and payable, and the obligation of the Borrowers to
Cash Collateralize the L/C Obligations as aforesaid shall automatically become
effective, in each case without further act of the Administrative Agent or any
Lender.

     

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

     

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

     

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

     

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

     

    Fourth, to payment of
that portion of the Obligations constituting (i) Bank Product Obligations (other
than obligations under and in respect of lease financing or related services)
and (ii) unpaid principal of the Loans and L/C Borrowings, ratably among the
Lenders and the L/C Issuer in proportion to the respective amounts described in
this clause Fourth held by
them;

     

    Fifth, to the
Administrative Agent for the account of the L/C Issuer, to Cash Collateralize
that portion of L/C Obligations comprised of the aggregate undrawn amount of
Letters of Credit;

     

    Sixth, to all other
Obligations; and

     

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

     

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

     

    

    
      
        
           

        

        
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    ARTICLE
IX.

     

    ADMINISTRATIVE
AGENT

     

    9.01.           Appointment and
Authority.  Each of the Lenders and the L/C Issuer hereby
irrevocably appoints Bank of America to act on its behalf as the Administrative
Agent hereunder and under the other Loan Documents and authorizes the
Administrative Agent to take such actions on its behalf and to exercise such
powers as are delegated to the Administrative Agent by the terms hereof or
thereof, together with such actions and powers as are reasonably incidental
thereto.  The provisions of this Article are solely for the benefit of
the Administrative Agent, the Lenders and the L/C Issuer, and no Borrower nor
any other Loan Party shall have rights as a third party beneficiary of any of
such provisions.

     

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

     

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

     

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

     

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

     

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

     

    The
Administrative Agent shall not be liable for any action taken or not taken by it
(i) with the consent or at the request of the Required Lenders (or such other
number or percentage of the Lenders as shall be necessary, or as the
Administrative Agent shall believe in good faith

     

    

    
      
        
           

        

        
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    shall be
necessary, under the circumstances as provided in Sections 10.01 and
8.02) or (ii)
in the absence of its own gross negligence or willful misconduct.  The
Administrative Agent shall be deemed not to have knowledge of any Default unless
and until notice describing such Default is given to the Administrative Agent by
the Company, a Lender or the L/C Issuer.

     

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

     

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

     

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

     

    9.06.           Resignation of Administrative
Agent.  The Administrative Agent may at any time give notice of
its resignation to the Lenders, the L/C Issuer and the Company.  Upon
receipt of any such notice of resignation, the Required Lenders shall have the
right, in consultation with the Company, to appoint a successor, which shall be
a bank with an office in the United States, or an Affiliate of any such bank
with an office in the United States.  If no such successor
shall

     

    

    
      
        
           

        

        
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    have been
so appointed by the Required Lenders and shall have accepted such appointment
within 30 days after the retiring Administrative Agent gives notice of its
resignation, then the retiring Administrative Agent may on behalf of the Lenders
and the L/C Issuer, appoint a successor Administrative Agent meeting the
qualifications set forth above; provided that if the
Administrative Agent shall notify the Company and the Lenders that no qualifying
Person has accepted such appointment, then such resignation shall nonetheless
become effective in accordance with such notice and (1) the retiring
Administrative Agent shall be discharged from its duties and obligations
hereunder and under the other Loan Documents (except that in the case of any
collateral security held by the Administrative Agent on behalf of the Lenders or
the L/C Issuer under any of the Loan Documents, the retiring Administrative
Agent shall continue to hold such collateral security until such time as a
successor Administrative Agent is appointed) and (2) all payments,
communications and determinations provided to be made by, to or through the
Administrative Agent shall instead be made by or to each Lender and the L/C
Issuer directly, until such time as the Required Lenders appoint a successor
Administrative Agent as provided for above in this Section.  Upon the
acceptance of a successor’s appointment as Administrative Agent hereunder, such
successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring (or retired) Administrative Agent, and the
retiring Administrative Agent shall be discharged from all of its duties and
obligations hereunder or under the other Loan Documents (if not already
discharged therefrom as provided above in this Section).  The fees
payable by the Company to a successor Administrative Agent shall be the same as
those payable to its predecessor unless otherwise agreed between the Company and
such successor.  After the retiring Administrative Agent’s resignation
hereunder and under the other Loan Documents, the provisions of this Article and
Section 10.04
shall continue in effect for the benefit of such retiring Administrative Agent,
its sub-agents and their respective Related Parties in respect of any actions
taken or omitted to be taken by any of them while the retiring Administrative
Agent was acting as Administrative Agent.

     

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

     

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

     

    

    
      
        
           

        

        
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    based
upon this Agreement, any other Loan Document or any related agreement or any
document furnished hereunder or thereunder.

     

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

     

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

     

    (a)           to
file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans, L/C Obligations and all other Obligations
that are owing and unpaid and to file such other documents as may be necessary
or advisable in order to have the claims of the Lenders, the L/C Issuer and the
Administrative Agent (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Lenders, the L/C Issuer and the
Administrative Agent and their respective agents and counsel and all other
amounts due the Lenders, the L/C Issuer and the Administrative Agent under Sections 2.03(i) and
(j), 2.09 and 10.04) allowed in
such judicial proceeding; and

     

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

     

    and any
custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial proceeding is hereby authorized by each
Lender and the L/C Issuer to make such payments to the Administrative Agent and,
in the event that the Administrative Agent shall consent to the making of such
payments directly to the Lenders and the L/C Issuer, to pay to the
Administrative Agent any amount due for the reasonable compensation, expenses,
disbursements and advances of the Administrative Agent and its agents and
counsel, and any other amounts due the Administrative Agent under Sections 2.09 and
10.04.

     

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

     

    9.10.           Collateral and Guaranty Matters.
 The Lenders
and the L/C Issuer irrevocably authorize the Administrative Agent, at its option
and in its discretion,

     

    (a)           to
release any Lien on any property granted to or held by the Administrative Agent
under any Loan Document (i) upon termination of the Aggregate Commitments and
payment in full of all Obligations (other than contingent indemnification
obligations) and the

     

    

    
      
        
           

        

        
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    expiration
or termination of all Letters of Credit, (ii) that is sold or to be sold as part
of or in connection with any sale permitted hereunder or under any other Loan
Document, or (iii) subject to Section 10.01, if
approved, authorized or ratified in writing by the Required Lenders or otherwise
permitted under this Agreement;

     

    (b)           to
subordinate any Lien on any property granted to or held by the Administrative
Agent under any Loan Document to the holder of any Lien on such property that is
permitted by Section
7.01(i); and

     

    (c)           to
release any Guarantor (other than a Borrower) from its obligations under its
Guaranty if such Person ceases to be a Subsidiary as a result of a transaction
permitted hereunder.

     

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

     

    ARTICLE
X.

     

    MISCELLANEOUS

     

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

     

    (a)           waive
any condition set forth in Section 4.01(a)
without the written consent of each Lender;

     

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

     

    (c)           postpone
any date fixed by this Agreement or any other Loan Document for any payment
(excluding mandatory prepayments) of principal, interest, fees or other amounts
due to the Lenders (or any of them) hereunder or under any other Loan Document
without the written consent of each Lender directly affected
thereby;

     

    (d)           reduce
the principal of, or the rate of interest specified herein on, any Loan or L/C
Borrowing, or (subject to clause (v) of the second proviso to this Section 10.01) any
fees or other amounts payable hereunder or under any other Loan Document without
the written consent of each Lender directly affected thereby; provided, however, that only
the consent of the Required Lenders shall be necessary (i) to amend the
definition of “Default Rate” or to waive any obligation of any Borrower to pay
interest or Letter of Credit Fees at the Default Rate or (ii) to amend any
financial covenant hereunder (or any defined term used therein) even if the
effect of

     

    

    
      
        
           

        

        
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    such
amendment would be to reduce the rate of interest on any Loan or L/C Borrowing
or to reduce any fee payable hereunder;

     

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

     

    (f)           change
any provision of this Section or the definition of “Required Lenders” or any
other provision hereof specifying the number or percentage of Lenders required
to amend, waive or otherwise modify any rights hereunder or make any
determination or grant any consent hereunder without the written consent of each
Lender;

     

    (g)           release
(i) any Borrower from its Guaranty or (ii) all or substantially all of the value
of the other Guaranties without the written consent of each Lender;

     

    (h)           release
all or substantially all of the Collateral in any transaction or series of
related transactions; or

     

    (i)           amend
Section 1.06 or
the definition of “Alternative Currency” without the written consent of each
Lender;

     

    and,
provided further, that (i) no
amendment, waiver or consent shall, unless in writing and signed by the L/C
Issuer in addition to the Lenders required above, affect the rights or duties of
the L/C Issuer under this Agreement or any Issuer Document relating to any
Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or
consent shall, unless in writing and signed by the Swing Line Lender in addition
to the Lenders required above, affect the rights or duties of the Swing Line
Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless
in writing and signed by the Administrative Agent in addition to the Lenders
required above, affect the rights or duties of the Administrative Agent under
this Agreement or any other Loan Document; (iv) Section 10.06(h) may
not be amended, waived or otherwise modified without the consent of each
Granting Lender all or any part of whose Loans are being funded by an SPC at the
time of such amendment, waiver or other modification; and (v) the Fee Letter may
be amended, or rights or privileges thereunder waived, in a writing executed
only by the parties thereto.  Notwithstanding anything to the contrary
herein, no Defaulting Lender shall have any right to approve or disapprove any
amendment, waiver or consent hereunder, except that the Commitment of such
Lender may not be increased or extended without the consent of such
Lender.

     

    10.02.           Notices;
Effectiveness; Electronic Communication.

     

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

     

    

    
      
        
           

        

        
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    (i)           if
to a Borrower, the Administrative Agent, the L/C Issuer or the Swing Line
Lender, to the address, telecopier number, electronic mail address or telephone
number specified for such Person on Schedule 10.02;
and

     

    (ii)           if
to any other Lender, to the address, telecopier number, electronic mail address
or telephone number specified in its Administrative Questionnaire.

     

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

     

    (b)           Electronic
Communications.  Notices and other communications to the
Lenders and the L/C Issuer hereunder may be delivered or furnished by electronic
communication (including e-mail and Internet or intranet websites) pursuant to
procedures approved by the Administrative Agent, provided that the
foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to
Article II if
such Lender or the L/C Issuer, as applicable, has notified the Administrative
Agent that it is incapable of receiving notices under such Article by electronic
communication.  The Administrative Agent or the Company may, in its
discretion, agree to accept notices and other communications to it hereunder by
electronic communications pursuant to procedures approved by it, provided that
approval of such procedures may be limited to particular notices or
communications.

     

    Unless
the Administrative Agent otherwise prescribes, (i) notices and other
communications sent to an e-mail address shall be deemed received upon the
sender’s receipt of an acknowledgement from the intended recipient (such as by
the “return receipt requested” function, as available, return e-mail or other
written acknowledgement), provided that if such
notice or other communication is not sent during the normal business hours of
the recipient, such notice or communication shall be deemed to have been sent at
the opening of business on the next business day for the recipient, and
(ii) notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the intended recipient at
its e-mail address as described in the foregoing clause (i) of notification
that such notice or communication is available and identifying the website
address therefor.

     

    (c)           The
Platform.  THE PLATFORM IS PROVIDED “AS IS” AND “AS
AVAILABLE.”  THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE
ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE
PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE
BORROWER MATERIALS.  NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR
STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR
PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER
CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER
MATERIALS OR THE PLATFORM.  In no event shall the
Administrative

     

    

    
      
        
           

        

        
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    Agent or
any of its Related Parties (collectively, the “Agent Parties”) have
any liability to any Borrower, any Lender, the L/C Issuer or any other Person
for losses, claims, damages, liabilities or expenses of any kind (whether in
tort, contract or otherwise) arising out of any Borrower’s or the Administrative
Agent’s transmission of Borrower Materials through the Internet, except to the
extent that such losses, claims, damages, liabilities or expenses are determined
by a court of competent jurisdiction by a final and nonappealable judgment to
have resulted from the gross negligence or willful misconduct of such Agent
Party; provided, however, that in no
event shall any Agent Party have any liability to any Borrower, any Lender, the
L/C Issuer or any other Person for indirect, special, incidental, consequential
or punitive damages (as opposed to direct or actual damages).

     

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

     

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

     

    10.03.           No Waiver; Cumulative Remedies;
Enforcement.  No failure by any Lender, the L/C Issuer or the
Administrative Agent to exercise, and no delay by any such Person in exercising,
any right, remedy, power or privilege hereunder shall operate as a waiver
thereof; nor shall any single or partial exercise of any right, remedy, power or
privilege hereunder preclude any other or further exercise thereof or the
exercise of any other right, remedy, power or

     

    

    
      
        
           

        

        
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    privilege.  The
rights, remedies, powers and privileges herein provided are cumulative and not
exclusive of any rights, remedies, powers and privileges provided by
law.

     

    Notwithstanding
anything to the contrary contained herein or in any other Loan Document, the
authority to enforce rights and remedies hereunder and under the other Loan
Documents against the Loan Parties or any of them shall be vested exclusively
in, and all actions and proceedings at law in connection with such enforcement
shall be instituted and maintained exclusively by, the Administrative Agent in
accordance with Section 8.02 for the
benefit of all the Lenders and the L/C Issuer; provided, however, that the
foregoing shall not prohibit (a) the Administrative Agent from exercising on its
own behalf the rights and remedies that inure to its benefit (solely in its
capacity as Administrative Agent) hereunder and under the other Loan Documents,
(b) the L/C Issuer or the Swing Line Lender from exercising the rights and
remedies that inure to its benefit (solely in its capacity as L/C Issuer or
Swing Line Lender, as the case may be) hereunder and under the other Loan
Documents, (c) any Lender from exercising setoff rights in accordance with Section 10.08
(subject to the terms of Section 2.13), or (d)
any Lender from filing proofs of claim or appearing and filing pleadings on its
own behalf during the pendency of a proceeding relative to any Loan Party under
any Debtor Relief Law; and provided, further, that if at
any time there is no Person acting as Administrative Agent hereunder and under
the other Loan Documents, then (i) the Required Lenders shall have the rights
otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii)
in addition to the matters set forth in clauses (b), (c) and (d) of the
preceding proviso and subject to Section 2.13, any
Lender may, with the consent of the Required Lenders, enforce any rights and
remedies available to it and as authorized by the Required Lenders.

     

    10.04.           Expenses;
Indemnity; Damage Waiver.

     

    (a)           Costs and
Expenses.  The Borrowers shall pay (i) all reasonable
out-of-pocket expenses incurred by the Administrative Agent and its Affiliates
(including the reasonable fees, charges and disbursements of counsel for the
Administrative Agent), in connection with the syndication of the credit
facilities provided for herein, the preparation, negotiation, execution,
delivery and administration of this Agreement and the other Loan Documents or
any amendments, modifications or waivers of the provisions hereof or thereof
(whether or not the transactions contemplated hereby or thereby shall be
consummated), (ii) all reasonable out-of-pocket expenses incurred by the
L/C Issuer in connection with the issuance, amendment, renewal or extension of
any Letter of Credit or any demand for payment thereunder and (iii) all
out-of-pocket expenses incurred by the Administrative Agent, any Lender or the
L/C Issuer (including the fees, charges, and disbursements of any counsel for
the Administrative Agent, any Lender or the L/C Issuer) and shall pay all fees
and time charges for attorneys who may be employees of the Administrative Agent,
any Lender or the L/C Issuer, in connection with the enforcement or protection
of its rights (A) in connection with this Agreement and the other Loan
Documents, including its rights under this Section, or (B) in connection
with the Loans made or Letters of Credit issued hereunder, including all such
out-of-pocket expenses incurred during any workout, restructuring or
negotiations in respect of such Loans or Letters of Credit.

     

    (b)           Indemnification by the
Borrowers.  The Borrowers shall indemnify the Administrative
Agent (and any sub-agent thereof), each Lender and the L/C Issuer, and each
Related Party of any of the foregoing Persons (each such Person being called an
“Indemnitee”)

     

    

    
      
        
           

        

        
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    against,
and hold each Indemnitee harmless from, any and all losses, costs (including
settlement costs), claims, damages, liabilities and related expenses (including
the fees, charges and disbursements of any counsel (including allocated costs of
internal counsel) for any Indemnitee), and shall indemnify and hold harmless
each Indemnitee from all fees and time charges and disbursements for attorneys
who may be employees of any Indemnitee, incurred by any Indemnitee or asserted
against any Indemnitee by any third party or by any Borrower or any other Loan
Party arising out of, in connection with, or as a result of (i) the
execution or delivery of this Agreement, any other Loan Document or any
agreement or instrument contemplated hereby or thereby, the performance by the
parties hereto of their respective obligations hereunder or thereunder, the
consummation of the transactions contemplated hereby or thereby, or, in the case
of the Administrative Agent (and any sub-agent thereof) and its Related Parties
only, the administration of this Agreement and the other Loan Documents
(including in respect of any matters addressed in Section 3.01),
(ii) any Loan or Letter of Credit or the use or proposed use of the
proceeds therefrom (including any refusal by the L/C Issuer 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 any Borrower or any of
its Subsidiaries, or any Environmental Liability related in any way to any
Borrower or any of its 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, whether brought by a third
party or by the Company or any other Loan Party, 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 (x) 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 or
(y) result from a claim brought by the Company or any other Loan Party
against an Indemnitee for breach in bad faith of such Indemnitee’s obligations
hereunder or under any other Loan Document, if the Company or such other Loan
Party has obtained a final and nonappealable judgment in its favor on such claim
as determined by a court of competent jurisdiction.

     

    (c)           Reimbursement by
Lenders.  To the extent that the Borrowers for any reason fail
to indefeasibly pay any amount required under subsection (a) or (b) of
this Section to be paid by it to the Administrative Agent (or any sub-agent
thereof), the L/C Issuer or any Related Party of any of the foregoing, each
Lender severally agrees to pay to the Administrative Agent (or any such
sub-agent), the L/C Issuer or such Related Party, as the case may be, such
Lender’s Applicable Percentage (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount,
provided that
the unreimbursed expense or indemnified loss, claim, damage, liability or
related expense, as the case may be, was incurred by or asserted against the
Administrative Agent (or any such sub-agent) or the L/C Issuer in its capacity
as such, or against any Related Party of any of the foregoing acting for the
Administrative Agent (or any such sub-agent) or L/C Issuer in connection with
such capacity.  The obligations of the Lenders under this
subsection (c) are subject to the provisions of Section 2.12(d).

     

    (d)           Waiver of Consequential
Damages, Etc.  To the fullest extent permitted by applicable
law, no Borrower shall assert, and hereby waives, any claim against any
Indemnitee, on any theory of liability, for special, indirect, consequential or
punitive damages (as opposed to

     

    

    
      
        
           

        

        
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    direct or
actual damages) arising out of, in connection with, or as a result of, this
Agreement, any other Loan Document or any agreement or instrument contemplated
hereby, the transactions contemplated hereby or thereby, any Loan or Letter of
Credit or the use of the proceeds thereof.  No Indemnitee referred to
in subsection (b) above shall be liable for any damages arising from the use by
unintended recipients of any information or other materials distributed to such
unintended recipients by such Indemnitee through telecommunications, electronic
or other information transmission systems in connection with this Agreement or
the other Loan Documents or the transactions contemplated hereby or thereby
other than for direct or actual damages resulting from the gross negligence or
willful misconduct of such Indemnitee as determined by a final and nonappealable
judgment of a court of competent jurisdiction.

     

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

     

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

     

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

     

    10.06.           Successors
and Assigns.

     

    (a)           Successors and Assigns
Generally.  The provisions of this Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective
successors and assigns permitted hereby, except that no Borrower nor any other
Loan Party may assign or otherwise transfer any of its rights or obligations
hereunder without the prior written consent of the Administrative Agent and each
Lender and no Lender may assign or otherwise transfer any of its rights or
obligations hereunder except (i) to an assignee in accordance with the
provisions of subsection (b) of this Section, (ii) by way of participation in
accordance with the provisions of subsection (d) of this Section, (iii) by way
of pledge or assignment of a security interest subject

     

    

    
      
        
           

        

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

     

    (b)           Assignments by
Lenders.  Any Lender may at any time assign to one or more
assignees all or a portion of its rights and obligations under this Agreement
(including all or a portion of its Commitment and the Loans (including for
purposes of this subsection (b), participations in L/C Obligations and in Swing
Line Loans) at the time owing to it); provided that any
such assignment shall be subject to the following conditions:

     

    (i)           Minimum
Amounts.

     

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

     

    (B)           in
any case not described in subsection (b)(i)(A) of this Section, the aggregate
amount of the Commitment (which for this purpose includes Loans outstanding
thereunder) or, if the Commitment is not then in effect, the principal
outstanding balance of the Loans of the assigning Lender subject to each such
assignment, determined as of the date the Assignment and Assumption with respect
to such assignment is delivered to the Administrative Agent or, if “Trade Date”
is specified in the Assignment and Assumption, as of the Trade Date, shall not
be less than $5,000,000 unless each of the
Administrative Agent and, so long as no Event of Default has occurred and is
continuing, the Company otherwise consents (each such consent not to be
unreasonably withheld or delayed); provided, however, that
concurrent assignments to members of an Assignee Group and concurrent
assignments from members of an Assignee Group to a single Eligible Assignee (or
to an Eligible Assignee and members of its Assignee Group) will be treated as a
single assignment for purposes of determining whether such minimum amount has
been met.

     

    (ii)           Proportionate
Amounts.  Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and
obligations under this Agreement with respect to the Loans or the Commitment
assigned, except that this clause (ii) shall not apply to the Swing Line
Lender’s rights and obligations in respect of Swing Line Loans.

     

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

     

    

    
      
        
           

        

        
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    (A)           the
consent of the Company (such consent not to be unreasonably withheld or delayed)
shall be required unless (1) an Event of Default has occurred and is continuing
at the time of such assignment or (2) such assignment is to a Lender, an
Affiliate of a Lender or an Approved Fund;

     

    (B)           the
consent of the Administrative Agent (such consent not to be unreasonably
withheld or delayed) shall be required if such assignment is to a Person that is
not a Lender;

     

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

     

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

     

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

     

    (v)           No Assignment to
Company.  No such assignment shall be made to the Company or
any of the Company’s Affiliates or Subsidiaries.

     

    (vi)           No Assignment to Natural
Persons.  No such assignment shall be made to a natural
person.

     

    Subject
to acceptance and recording thereof by the Administrative Agent pursuant to
subsection (c) of this Section, from and after the effective date specified in
each Assignment and Assumption, the assignee thereunder shall be a party to this
Agreement and, to the extent of the interest assigned by such Assignment and
Assumption, have the rights and obligations of a Lender under this Agreement,
and the assigning Lender thereunder shall, to the extent of the interest
assigned by such Assignment and Assumption, be released from its obligations
under this Agreement (and, in the case of an Assignment and Assumption covering
all of the assigning Lender’s rights and obligations under this Agreement, such
Lender shall cease to be a party hereto) but shall continue to be entitled to
the benefits of Sections 3.01, 3.04, 3.05, and 10.04 with respect to
facts and circumstances occurring prior to the effective date of such
assignment.  Upon request, each Borrower (at its expense) shall
execute and deliver a Note to the assignee Lender.  Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does not
comply with this subsection shall be treated for purposes of this Agreement as a
sale by such Lender of a participation in such rights and obligations in
accordance with subsection (d) of this Section.

     

    (c)           Register.  The
Administrative Agent, acting solely for this purpose as an agent of the
Borrowers, shall maintain at the Administrative Agent’s Office a copy of each
Assignment

     

    

    
      
        
           

        

        
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    and
Assumption delivered to it and a register for the recordation of the names and
addresses of the Lenders, and the Commitments of, and principal amounts of the
Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof
from time to time (the “Register”).  The
entries in the Register shall be conclusive, and the Borrowers, the
Administrative Agent and the Lenders may treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for
all purposes of this Agreement, notwithstanding notice to the
contrary.  The Register shall be available for inspection by the
Borrowers and any Lender, at any reasonable time and from time to time upon
reasonable prior notice.

     

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

     

    Any
agreement or instrument pursuant to which a Lender sells such a participation
shall provide that such Lender shall retain the sole right to enforce this
Agreement and to approve any amendment, modification or waiver of
any  provision of this Agreement; provided that such
agreement or instrument may provide that such Lender will not, without the
consent of the Participant, agree to any amendment, waiver or other modification
described in the first proviso to Section 10.01 that
affects such Participant.  Subject to subsection (e) of this Section,
each Borrower agrees that each Participant shall be entitled to the benefits of
Sections 3.01,
3.04 and 3.05 to the same extent as
if it were a Lender and had acquired its interest by assignment pursuant to
subsection (b) of this Section.  To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 10.08 as though it were a
Lender, provided such
Participant agrees to be subject to Section 2.13 as
though it were a Lender.

     

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

     

    (f)           Certain
Pledges.  Any Lender may at any time pledge or assign a
security interest in all or any portion of its rights under this Agreement
(including under its Note, if any) to secure obligations of such Lender,
including any pledge or assignment to secure obligations to a Federal Reserve
Bank; provided
that no such pledge or assignment shall release such Lender from any
of

     

    

    
      
        
           

        

        
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    its
obligations hereunder or substitute any such pledgee or assignee for such Lender
as a party hereto.

     

    (g)           [Intentionally
Omitted].

     

    (h)           Special Purpose Funding
Vehicles.  Notwithstanding anything to the contrary contained
herein, any Lender (a “Granting Lender”) may
grant to a special purpose funding vehicle identified as such in writing from
time to time by the Granting Lender to the Administrative Agent and the Company
(an “SPC”) the
option to provide all or any part of any Committed Loan that such Granting
Lender would otherwise be obligated to make pursuant to this Agreement; provided that (i)
nothing herein shall constitute a commitment by any SPC to fund any Committed
Loan, and (ii) if an SPC elects not to exercise such option or otherwise fails
to make all or any part of such Committed Loan, the Granting Lender shall be
obligated to make such Committed Loan pursuant to the terms hereof or, if it
fails to do so, to make such payment to the Administrative Agent as is required
under Section
2.12(b)(ii).  Each party hereto hereby agrees that (i) neither
the grant to any SPC nor the exercise by any SPC of such option shall increase
the costs or expenses or otherwise increase or change the obligations of the
Borrowers under this Agreement (including its obligations under Section 3.04), (ii)
no SPC shall be liable for any indemnity or similar payment obligation under
this Agreement for which a Lender would be liable, and (iii) the Granting Lender
shall for all purposes, including the approval of any amendment, waiver or other
modification of any provision of any Loan Document, remain the lender of record
hereunder.  The making of a Committed Loan by an SPC hereunder shall
utilize the Commitment of the Granting Lender to the same extent, and as if,
such Committed Loan were made by such Granting Lender.  In furtherance
of the foregoing, each party hereto hereby agrees (which agreement shall survive
the termination of this Agreement) that, prior to the date that is one year and
one day after the payment in full of all outstanding commercial paper or other
senior debt of any SPC, it will not institute against, or join any other Person
in instituting against, such SPC any bankruptcy, reorganization, arrangement,
insolvency, or liquidation proceeding under the laws of the United States or any
State thereof.  Notwithstanding anything to the contrary contained
herein, any SPC may (i) with notice to, but without prior consent of the Company
and the Administrative Agent and with the payment of a processing fee in the
amount of $3,500 (which processing fee may be waived by the Administrative Agent
in its sole discretion), assign all or any portion of its right to receive
payment with respect to any Committed Loan to the Granting Lender and (ii)
disclose on a confidential basis any non-public information relating to its
funding of Committed Loans to any rating agency, commercial paper dealer or
provider of any surety or Guarantee or credit or liquidity enhancement to such
SPC.

     

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

     

    

    
      
        
           

        

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

     

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

     

    For
purposes of this Section, “Information” means
all information received from the Company or any Subsidiary relating to the
Company or any Subsidiary or any of their respective businesses, other than any
such information that is available to the Administrative Agent, any Lender or
the L/C Issuer on a nonconfidential basis prior to disclosure by the Company or
any Subsidiary, provided that, in the
case of information received from the Company or any Subsidiary after the
Closing Date, such information is clearly identified at the time of delivery as
confidential.  Any Person required to maintain the confidentiality of
Information as provided in this Section shall be considered to have complied
with its obligation to do so if such Person has exercised the same degree of
care to maintain the confidentiality of such Information as such Person would
accord to its own confidential information.

     

    

    
      
        
           

        

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

     

    10.08.           Right of Setoff.  If
an Event of Default shall have occurred and be continuing, each Lender, the L/C
Issuer and each of their respective Affiliates is hereby authorized at any time
and from time to time, after obtaining the prior written consent of the
Administrative Agent, to the fullest extent permitted by applicable law, to set
off and apply any and all deposits (general or special, time or demand,
provisional or final, in whatever currency) at any time held and other
obligations (in whatever currency) at any time owing by such Lender, the L/C
Issuer or any such Affiliate to or for the credit or the account of any Borrower
or any other Loan Party against any and all of the obligations of such Borrower
or such Loan Party now or hereafter existing under this Agreement or any other
Loan Document to such Lender or the L/C Issuer, irrespective of whether or not
such Lender or the L/C Issuer shall have made any demand under this Agreement or
any other Loan Document and although such obligations of such Borrower or such
Loan Party may be contingent or unmatured or are owed to a branch or office of
such Lender or the L/C Issuer different from the branch or office holding such
deposit or obligated on such indebtedness.  The rights of each Lender,
the L/C Issuer and their respective Affiliates under this Section are in
addition to other rights and remedies (including other rights of setoff) that
such Lender, the L/C Issuer or their respective Affiliates may
have.  Each Lender and the L/C Issuer agrees to notify the Company and
the Administrative Agent promptly after any such setoff and application, provided that the
failure to give such notice shall not affect the validity of such setoff and
application.

     

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

     

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

     

    

    
      
        
           

        

        
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    hereof
that, when taken together, bear the signatures of each of the other parties
hereto.  Delivery of an executed counterpart of a signature page of
this Agreement by telecopy or other electronic imaging means shall be effective
as delivery of a manually executed counterpart of this Agreement.

     

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

     

    10.12.           Severability.  If
any provision of this Agreement or the other Loan Documents is held to be
illegal, invalid or unenforceable, (a) the legality, validity and enforceability
of the remaining provisions of this Agreement and the other Loan Documents shall
not be affected or impaired thereby and (b) the parties shall endeavor in good
faith negotiations to replace the illegal, invalid or unenforceable provisions
with valid provisions the economic effect of which comes as close as possible to
that of the illegal, invalid or unenforceable provisions.  The
invalidity of a provision in a particular jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

     

    10.13.           Replacement of
Lenders.  If (i) any Lender (x) requests compensation under
Section 3.04,
(y) fails to agree to any amendment or waiver or give its consent to any matter
which has been approved by the Required Lenders, or (z) fails to approve a
Designated Borrower that the Administrative Agent has approved, (ii) any
Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 3.01, or
(iii) any Lender is a Defaulting Lender, then the Company may, at its sole
expense and effort, upon notice to such Lender and the Administrative Agent,
require such Lender to assign and delegate, without recourse (in accordance with
and subject to the restrictions contained in, and consents required by, Section 10.06), all
of its interests, rights and obligations under this Agreement and the related
Loan Documents to an assignee that shall assume such obligations (which assignee
may be another Lender, if a Lender accepts such assignment), provided
that:

     

    (a)           the
Borrowers shall have paid to the Administrative Agent the assignment fee
specified in Section
10.06(b);

     

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

     

    

    
      
        
           

        

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

     

    (d)           such
assignment does not conflict with applicable Laws.

     

    A Lender
shall not be required to make any such assignment or delegation if, prior
thereto, as a result of a waiver by such Lender or otherwise, the circumstances
entitling the Company to require such assignment and delegation cease to
apply.

     

    10.14.           Governing
Law; Jurisdiction; Etc.

     

    (a)           GOVERNING
LAW.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

     

    (b)           SUBMISSION TO
JURISDICTION.  EACH BORROWER AND EACH OTHER LOAN PARTY
IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE
NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW
YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF
NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR
RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO
IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH
ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT
OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL
COURT.  EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY
SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER
JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY
LAW.  NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL
AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY
OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR
ANY OTHER LOAN DOCUMENT AGAINST ANY BORROWER OR ANY OTHER LOAN PARTY OR ITS
PROPERTIES IN THE COURTS OF ANY JURISDICTION.

     

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

     

    

    
      
        
           

        

        
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    (d)           SERVICE OF
PROCESS.  EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF
PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02.  NOTHING
IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN
ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

     

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

     

    10.16.           No Advisory or Fiduciary
Responsibility.  In connection with all aspects of each
transaction contemplated hereby (including in connection with any amendment,
waiver or other modification hereof or of any other Loan Document), each
Borrower and each other Loan Party acknowledges and agrees, and acknowledges its
Affiliates’ understanding, that: (i) (A) the arranging and other services
regarding this Agreement provided by the Administrative Agent and the Arrangers
are arm’s-length commercial transactions between such Borrower, each other Loan
Party and their respective Affiliates, on the one hand, and the Administrative
Agent and the Arrangers, on the other hand, (B) each of such Borrower and the
other Loan Parties has consulted its own legal, accounting, regulatory and tax
advisors to the extent it has deemed appropriate, and (C) such Borrower and each
other Loan Party is capable of evaluating, and understands and accepts, the
terms, risks and conditions of the transactions contemplated hereby and by the
other Loan Documents; (ii) (A) the Administrative Agent and the Arrangers each
is and has been acting solely as a principal and, except as expressly agreed in
writing by the relevant parties, has not been, is not, and will not be acting as
an advisor, agent or fiduciary for such Borrower, any other Loan Party or any of
their respective Affiliates, or any other Person and (B) neither the
Administrative Agent nor any Arranger has any obligation to such Borrower, any
other Loan Party or any of their respective Affiliates with respect to the
transactions contemplated hereby except those obligations expressly set forth
herein and in the other Loan Documents; and (iii) the Administrative Agent, the
Arrangers and their respective Affiliates may be engaged in a broad range of
transactions that involve interests that differ from those of such Borrower, the
other Loan Parties and their respective Affiliates, and neither the
Administrative Agent nor any Arranger has any obligation to disclose any of such
interests to such Borrower, any other Loan Party or any of their respective
Affiliates.  To the fullest extent permitted by law, each of the
Borrowers and the other Loan Parties hereby waives and releases any claims that
it may have against the Administrative Agent and the Arrangers with respect to
any breach or

     

    

    
      
        
           

        

        
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    alleged
breach of agency or fiduciary duty in connection with any aspect of any
transaction contemplated hereby.

     

    10.17.           USA PATRIOT
Act.  Each Lender that is subject to the Act (as hereinafter
defined) and the Administrative Agent (for itself and not on behalf of any
Lender) hereby notifies the Borrowers that pursuant to the requirements of the
USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001))
(the “Act”), it
is required to obtain, verify and record information that identifies the
Borrowers, which information includes the name and address of each Borrower and
other information that will allow such Lender or the Administrative Agent, as
applicable, to identify such Borrower in accordance with the
Act.  Each Borrower shall, promptly following a request by the
Administrative Agent or any Lender, provide all documentation and other
information that the Administrative Agent or such Lender requests in order to
comply with its ongoing obligations under applicable “know your customer” and
anti-money laundering rules and regulations, including the Act.

     

    10.18.           Time of the Essence. Time is
of the essence of the Loan Documents; provided that this Section 10.18 shall
not be construed to limit or deprive the Loan Parties of any grace periods set
forth in any Loan Document.

     

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

     

    10.20.           Judgment
Currency.  If, for the purposes of obtaining judgment in any
court, it is necessary to convert a sum due hereunder or any other Loan Document
in one currency into another currency, the rate of exchange used shall be that
at which in accordance with normal banking procedures the Administrative Agent
could purchase the first currency with such other currency on the Business Day
preceding that on which final judgment is given.  The obligation of
each Borrower in respect of any such sum due from it to the Administrative Agent
or any Lender hereunder or under the other Loan Documents shall, notwithstanding
any judgment in a currency (the “Judgment Currency”)
other than that in which such sum is denominated in accordance with the
applicable provisions of this Agreement (the “Agreement Currency”),
be discharged only to the extent that on the Business Day following receipt by
the Administrative Agent or such Lender, as the case may be, of any sum adjudged
to be so due in the Judgment Currency, the Administrative Agent or such Lender,
as the case may be, may in accordance with normal banking procedures purchase
the Agreement Currency with the Judgment Currency.  If the amount of
the Agreement Currency so purchased is less than the sum originally due to the
Administrative Agent or any Lender from any Borrower in the Agreement Currency,
such Borrower agrees, as a separate obligation and notwithstanding any such
judgment, to indemnify the Administrative Agent or such Lender, as the case may
be, against such loss.  If the amount of the Agreement Currency so
purchased is greater than the sum originally due to the

     

    

    
      
        
           

        

        
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    Administrative
Agent or any Lender in such currency, the Administrative Agent or such Lender,
as the case may be, agrees to return the amount of any excess to such Borrower
(or to any other Person who may be entitled thereto under applicable
law).

     

    10.21.           Transitional
Arrangements.

     

    (a)           On
the Closing Date, this Agreement shall supersede the Third Amended and Restated
Credit Agreement in its entirety.  On the Closing Date, the rights and
obligations of the parties evidenced by the Third Amended and Restated Credit
Agreement shall be evidenced by this Agreement and the other Loan Documents.
This Agreement shall constitute an amendment and restatement of, but not a
novation of, the Third Amended and Restated Credit Agreement.

     

    (b)           All
interest and fees and expenses, if any, owing or accruing under or in respect of
the Third Amended and Restated Credit Agreement through the Closing Date shall
be calculated as of the Closing Date (pro rated in the case of any fractional
periods), and shall be paid on the Closing Date.

     

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

     

     

    COMPANY:

     

    

     

    COLUMBUS
MCKINNON CORPORATION

     

    By: /s/ Karen L.
Howard                                                                         

    Name:           Karen
L. Howard

    Title:           Vice
President – Finance, Chief Financial Officer

     

    

     

    

    
      
        
          
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    Acknowledged and Agreed by
the Guarantors:

     

     

    YALE
INDUSTRIAL PRODUCTS, INC.

     

    By: /s/ Karen L.
Howard                                                                         

    Name:           Karen
L. Howard

    Title:           Vice
President

     

     

    CRANE
EQUIPMENT & SERVICE, INC.

     

    By: /s/ Karen L.
Howard                                                                         

    Name:           Karen
L. Howard

    Title:           Vice
President

     

     

    AUDUBON
EUROPE S.A.R.L.

     

    By: /s/ Karen L.
Howard                                                                         

    Name:           Karen
L. Howard

    Title:           Manager

     

     

    By: /s/ Timothy R.
Harvey                                                                         

    Name:           Timothy
R. Harvey

    Title:           Manager

     

    

     

    

    
      
        
          
            

             

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    ADMINISTRATIVE
AGENT:

     

    BANK
OF AMERICA, N.A., AS ADMINISTRATIVE AGENT

     

    By: /s/ Angelo M.
Martorana                                                                         

    Name:           Angelo
M. Martorana

    Title:           Assistant
Vice President

     

    

    
      
        
          
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    LENDERS:

     

    BANK
OF AMERICA, N.A., AS A LENDER, L/C ISSUER AND SWING LINE LENDER

     

     

    By: /s/ Colleen
O’Brien                                                                         

    Name:
Colleen O’Brien

    Title:   Senior
Vice President

     

    

    
      
        
          
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    JPMORGAN
CHASE BANK, N.A., AS A LENDER

     

     

    By: /s/ Cary J.
Haller                                                                         

    Name:
Cary J. Haller

    Title:   Vice
President

     

    

    
      
        
          
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    RBS
CITIZENS BANK, N.A., AS A LENDER

     

     

    By: /s/ Thomas
Giles                                                                         

    Name:
Thomas Giles

    Title:   SVP

     

    

     

     

     

    

    
      
        
          
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    M&T
BANK, AS A LENDER

     

     

    By: /s/ Andrew M.
Constantino                                                                         

    Name:
Andrew M. Constantino

    Title:   Vice
President

     

    

     

    

     

     

    

     

    

    
      
        
          
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    PNC
BANK, N.A., AS A LENDER

     

     

    By: /s/ James F.
Stevenson                                                                         

    Name:
James F. Stevenson

    Title:   Senior
Vice President

     

    

     

    

     

     

     

    

    
      
        
          
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    CREDIT
SUISSE AG, CAYMAN ISLANDS BRANCH, AS A LENDER

     

     

    By: /s/ John
Toronto          /s/
Lynne-Marie Paquette 

    Name:
John
Toronto               Lynne-Marie
Paquette

    Title:   Director                         Associate

     

     

     

     

     

    
 

    
      
        
          
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