Document:

exv4w4

Exhibit 4.4

EXECUTION VERSION

INTERCREDITOR AGREEMENT

     Intercreditor Agreement (this “Agreement”), dated as of October 4, 2010,
among JPMORGAN CHASE BANK, N.A., as Administrative Agent (in such capacity, with its successors
and assigns, and as more specifically defined below, the “First Priority Representative”)
for the First Priority Secured Parties (as defined below), Wells Fargo Bank, National
Association, as Collateral Agent (in such capacity, with its successors and assigns, and as more
specifically defined below, the “Second Priority Representative”) for the Second
Priority Secured Parties (as defined below), Roadhouse Financing Inc., a Delaware corporation (to
be merged with and into Logan’s Roadhouse, Inc., a Tennessee corporation, with Logan’s Roadhouse,
Inc. as the surviving entity) (the “Borrower”) and each of the other Loan Parties (as
defined below) party hereto.

     WHEREAS, the Borrower, the First Priority Representative and certain financial institutions
and other entities are parties to the Credit Agreement, dated as the date hereof, among Roadhouse
Merger Inc., a Delaware corporation (to be merged with and into LRI Holdings, Inc., a Delaware
corporation, with LRI Holdings, Inc. as the surviving entity) (“Holdings”), the
Borrower, the lenders named therein, JPMorgan Chase Bank, N.A., as administrative agent and the
other agents named therein (the “Existing First Priority Agreement”), pursuant to
which such financial institutions and other entities have agreed to make loans and extend other
financial accommodations to the Borrower; and

     WHEREAS, the Borrower, the Second Priority Representative, Holdings and certain Subsidiaries
of the Borrower are or will be parties to the Indenture dated as of the date hereof (the
“Existing Second Priority Agreement”), pursuant to which the Borrower has issued
senior secured second lien notes (the “Second Lien
Notes”); and

     WHEREAS, the Borrower and certain other Loan Parties have granted, and the remaining Loan
Parties will grant, to the First Priority Representative security interests in the Common
Collateral as security for payment and performance of the First Priority Obligations; and

     WHEREAS, the Borrower and certain other Loan Parties have granted, and the remaining Loan
Parties will grant, to the Second Priority Representative junior security interests in the
Common Collateral as security for payment and performance of the Second Priority Obligations;

     NOW THEREFORE, in consideration of the foregoing and the mutual covenants herein contained and
other good and valuable consideration, the existence and sufficiency of which are expressly
recognized by all of the parties hereto, the parties agree as follows:

     SECTION 1. Definitions.

     1.1. Defined Terms. The following terms, as used herein, have the following meanings:

     “Additional First Priority Agreement” means any agreement permitted to be
designated as such by the First Priority Agreement and the Second Priority Agreement.

     “Additional First Priority Debt” has the meaning set forth in Section 9.3(b).

     “Additional Second Priority Agreement” means any agreement permitted to be
designated as such by the First Priority Agreement and the Second Priority Agreement.

     “Additional Second Priority Debt” has the meaning set forth in Section 9.3(b).

 

 

     “Agreement” has the meaning set forth in the introductory paragraph hereof.

     “Bankruptcy Code” means the United States Bankruptcy Code (11 U.S.C. §
101 et seq.), as amended from time to time.

     “Business Day” means a day other than a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to close.

     “Borrower” has the meaning set forth in the introductory
paragraph hereof.

     “Cash Collateral” has the meaning set
forth in Section 3.7.

     “Common Collateral” means all assets that are both First Priority Collateral and
Second Priority Collateral.

     “Comparable Second Priority Security Document” means, in relation to any Common
Collateral subject to any First Priority Security Document, that Second Priority Security Document
that
creates a security interest in the same Common Collateral, granted by the same Loan Party, as
applicable.

     “DIP Financing” has the meaning set forth in Section 5.2.

     “Enforcement Action” means, with respect to the First Priority Obligations or the
Second Priority Obligations, the exercise of any rights and remedies with respect to any Common
Collateral securing such obligations or the commencement or prosecution of enforcement of any of
the rights and remedies with respect to the Common Collateral under, as applicable, the First
Priority Documents or the Second Priority Documents, or applicable law, including without
limitation the exercise of any rights of set-off or recoupment, and the exercise of any rights or
remedies of a secured creditor under the Uniform Commercial Code of any applicable jurisdiction or
under the Bankruptcy Code.

     “Enforcement Notice” has the meaning set forth in Section 3.7.

     “Existing First Priority Agreement” has the meaning set forth in the first WHEREAS
clause of this Agreement.

     “Existing Second Priority Agreement” has the meaning set forth in the second
WHEREAS clause of this Agreement.

     “First Priority Agreement” means the collective reference to (a) the Existing
First Priority Agreement, (b) any Additional First Priority Agreement and (c) any other credit
agreement, loan agreement, note agreement, promissory note, indenture or other agreement or
instrument evidencing or governing the terms of any indebtedness or other financial accommodation
that has been incurred to extend, increase, renew, refund, replace (whether upon or after
termination or otherwise) or refinance (including by means of sales of debt securities to
institutional investors) in whole or in part from time to time the indebtedness and other
obligations outstanding under the Existing First Priority Agreement, any Additional First Priority
Agreement or any other agreement or instrument referred to in this clause (c) unless such
agreement or instrument expressly provides that it is not intended to be and is not a First
Priority Agreement hereunder (a “Replacement First Priority
Agreement”). Any reference
to the First Priority Agreement hereunder shall be deemed a reference to any First Priority
Agreement then extant.

 

 

     “First Priority Collateral” means all assets, whether now owned or hereafter
acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be
granted to any First Priority Secured Party as security for any First Priority Obligation.

     “First Priority Creditors” means each “Secured Party” as defined in the First
Priority Agreement, or any Persons that are designated under the First Priority Agreement as
the “First Priority Creditors” for purposes of this Agreement.

     “First Priority Documents” means the First Priority Agreement, each First
Priority Security Document and each First Priority Guarantee.

     “First Priority Guarantee” means any guarantee by any Loan Party of any or
all of the First Priority Obligations.

     “First Priority Lien” means any Lien created by the First Priority Security Documents.

     “First Priority Obligations” means (a) with respect to the Existing First Priority
Agreement, all “Obligations” of each Loan Party as defined in the Existing First Priority Agreement
and (b) with respect to each other First Priority Agreement, (i) all principal of and interest
(including without limitation any Post-Petition Interest) and premium (if any) on all
loans made or other indebtedness issued or incurred pursuant to such First Priority Agreement, (ii)
all reimbursement obligations (if any) and interest thereon (including without limitation any
Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant
to such First Priority Agreement, (iii) all Specified Swap Agreements, (iv) all Specified Cash
Management Agreements and (v) all guarantee obligations, fees, expenses and other amounts payable
from time to time pursuant to the applicable First Priority Documents, in each case whether or not
allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any
First Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security,
enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a
preference in any respect, set aside or required to be paid to a debtor in possession, any Second
Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally
intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations
of the First Priority Secured Parties and the Second Priority Secured Parties, be deemed to be
reinstated and outstanding as if such payment had not occurred.

     “First Priority Obligations Payment Date” means the first date on which (a) all of
the First Priority Liens have been released in accordance with the terms of the First Priority
Documents and (b) the First Priority Representative has delivered a written notice to the Second
Priority Representative stating that the event described in clause (a) has occurred to the
satisfaction of the First Priority Secured Parties, which notice shall be delivered by the First
Priority Representative promptly after the occurrence of the event described in clause (a).

     “First Priority Representative” has the meaning set forth in the introductory
paragraph hereof. In the case of any Replacement First Priority Agreement, the First Priority
Representative shall be the Person identified as such in such Agreement.

     “First Priority Secured Parties” means the First Priority Representative,
the First Priority Creditors and any other holders of the First Priority Obligations.

     “First Priority Security Documents” means the “Security Documents” as defined
in the First Priority Agreement, and any other documents that are designated under the First
Priority Agreement as “First Priority Security Documents” for purposes of this Agreement.

 

 

     “Holdings” has the meaning set forth in the first WHEREAS clause of this
Agreement.

     “Insolvency Proceeding” means any proceeding in respect of
bankruptcy, insolvency, winding up, receivership, dissolution or assignment for the benefit of
creditors, in each of the foregoing events whether under the Bankruptcy Code or any similar
federal, state or foreign bankruptcy, insolvency, reorganization, receivership or similar law.

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

     “Loan Party” means the Borrower, Holdings, and each direct or indirect subsidiary,
affiliate or shareholder (or equivalent) of the Borrower or any of its affiliates that is now or
hereafter becomes a party to any First Priority Document or Second Priority Document. All
references in this Agreement to any Loan Party shall include such Loan Party as a
debtor-in-possession and any receiver or trustee for such Loan Party in any Insolvency Proceeding.

     “Person” means any person, individual, sole proprietorship, partnership, joint
venture, corporation, limited liability company, unincorporated organization, association,
institution, entity, party, including any government and any political subdivision, agency or
instrumentality thereof.

     “Post
Petition Interest” means any interest or entitlement to fees or
expenses or other charges that accrues after the commencement of any Insolvency Proceeding,
whether or not allowed or allowable in any such Insolvency Proceeding.

     “Purchase” has the meaning set forth in Section 3.7.

     “Purchase Notice” has the meaning set forth in
Section 3.7.

     “Purchase Price” has the meaning
set forth in Section 3.7.

     “Purchasing Parties”
has the meaning set forth in Section 3.7.

     “Real Property” means any right, title or interest in and to real property,
including any fee interest, leasehold interest, easement, or license and any other right to
use or occupy real property, including any right arising by contract.

     “Recovery” has the meaning set forth in Section 5.5.

     “Replacement First Priority Agreement” has the meaning set forth in the
definition of “First Priority Agreement.”

     “Second Lien Notes” has the meaning set forth in the second “WHEREAS”
clause of this Agreement.

     “Second Priority Agreement” means the collective reference to (a) the Existing
Second Priority Agreement, (b) any Additional Second Priority Agreement and (c) any other credit
agreement, loan agreement, note agreement, promissory note, indenture, or other agreement or
instrument evidencing or governing the terms of any indebtedness or other financial accommodation
that has been incurred to

 

 

extend, increase, renew, refund, replace (whether upon or after termination or otherwise) or
refinance (including by means of sales of debt securities to institutional investors) in whole or
in part from time to time the indebtedness and other obligations outstanding under the Existing
Second Priority Agreement, any Additional Second Priority Agreement or any other agreement or
instrument referred to in this clause (c). Any reference to the Second Priority Agreement
hereunder shall be deemed a reference to any Second Priority Agreement then extant.

     “Second Priority Collateral” means all assets, whether now owned or hereafter
acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be
granted to any Second Priority Secured Party as security for any Second Priority Obligation.

     “Second Priority Creditors” means the “Holders” as defined in the Second
Priority Agreement and any holder of a Second Lien Note, the Second Priority Representatives or
any Persons that are designated under the Second Priority Agreement as the “Second Priority
Creditors” for purposes of this Agreement.

     “Second Priority Documents” means each Second Priority Agreement, each Second
Priority Security Document and each Second Priority Guarantee.

     “Second Priority Guarantee” means any guarantee by any Loan Party of any or
all of the Second Priority Obligations.

     “Second Priority Lien” means any Lien created by the Second Priority Security
Documents.

     “Second Priority Obligations” means (a) with respect to the Existing Second
Priority Agreement, all “Secured Obligations” of each Loan Party as defined in the “Security
Agreement” referred to in the Existing Second Priority Agreement and (b) with respect to each other
Second Priority Agreement, (i) all principal of and interest (including without limitation any
Post-Petition Interest) and premium (if any) on all indebtedness under such Second Priority
Agreement, and (ii) all guarantee obligations, fees, expenses and other amounts payable from time
to time pursuant to the applicable Second Priority Documents, in each case whether or not allowed
or allowable in an Insolvency Proceeding. To the extent any payment with respect to any Second
Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security,
enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a
preference in any respect, set aside or required to be paid to a debtor in possession, any First
Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally
intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations
of the First Priority Secured Parties and the Second Priority Secured Parties hereunder, be deemed
to be reinstated and outstanding as if such payment had not occurred.

     “Second Priority Representative” has the meaning set forth in the introductory
paragraph hereof, but shall also include any Person identified as a “Second Priority
Representative” in any Second Priority Agreement other than the Existing Second Priority
Agreement.

     “Second Priority Secured Parties” means the Second Priority Representative,
the Second Priority Creditors and any other holders of the Second Priority Obligations.

     “Second Priority Security Documents” means the “Collateral Documents” as defined
in the Second Priority Agreement and any documents that are designated under the Second Priority
Agreement as “Second Priority Security Documents” for purposes of this Agreement.

 

 

     “Secured Parties” means the First Priority Secured Parties and the Second
Priority Secured
Parties.

     “Specified Cash Management Agreement”: any agreement providing for treasury,
depositary, purchasing card or cash management services, including in connection with any automated
clearing house transfers of funds or any similar transactions between any Loan Party and any holder
of First Priority Obligations (other than under the Specified Cash Management Agreement), or an
affiliate thereof.

     “Specified Swap Agreement”: means any Swap Agreement in respect of interest rates,
currency exchange rates or commodity prices entered into by any Loan Party and any Person that is
holder of First Priority Obligations (other than under the Specified Swap Agreement) or an
affiliate thereof, at the time such Swap Agreement is entered into.

     “Standstill Period” has the meaning set forth in
Section 3.2.

     “Surviving Obligations” has the
meaning set forth in Section 3.7.

     “Swap Agreement” means any agreement with respect to any swap, forward, future or
derivative transaction or option or similar agreement involving, or settled by reference to, one or
more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any
similar transaction or any combination of these transactions; provided that no
phantom stock or similar plan providing for payments only on account of services provided by
current or former directors, officers, employees or consultants of the Borrower or any of its
subsidiaries shall be a “Swap Agreement”; provided further that no agreement
relating to the purchase of food at a fixed price entered into by the Borrower or its Affiliates
shall be a “Swap Agreement”.

     “Uniform Commercial Code” shall mean the Uniform Commercial Code as in effect
from time to time in the applicable jurisdiction.

     1.2 Terms Generally. The definitions of terms herein shall apply equally
to the singular and
plural forms of the terms defined. Whenever the context may require, any pronoun shall include the
corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including”
shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be
construed to have the same meaning and effect as the word “shall”. Unless the context requires
otherwise (i) any definition of or reference to any agreement, instrument or other document herein
shall be construed as referring to such agreement, instrument or other document as from time to
time amended, restated, supplemented or otherwise modified, (ii) any reference herein to any Person
shall be construed to include such Person’s successors or permitted assigns, (iii) the words
“herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to
this Agreement in its entirety and not to any particular provision hereof, (iv) all references
herein to Sections shall be construed to refer to Sections of this Agreement and (v) the words
“asset” and “property” shall be construed to have the same meaning and effect and to refer to any
and all tangible and intangible assets and properties, including cash, securities, accounts and
contract rights.

     SECTION 2. Lien Priorities.

     2.1 Subordination of Liens. (a) Any and all Liens on the Common Collateral now existing
or hereafter created or arising in favor of any Second Priority Secured Party securing the Second
Priority Obligations, regardless of how acquired, whether by grant, statute, operation of law,
subrogation or

 

 

otherwise are expressly junior in priority, operation and effect to any and all Liens on the Common
Collateral now existing or hereafter created or arising in favor of the First Priority Secured
Parties securing the First Priority Obligations, notwithstanding (i) anything to the contrary
contained in any agreement or filing to which any Second Priority Secured Party may now or
hereafter be a party, and regardless of the time, order or method of grant, attachment, recording
or perfection of any financing statements or other security interests, assignments, pledges, deeds,
mortgages and other Liens, or any defect or deficiency or alleged defect or deficiency in any of
the foregoing, (ii) any provision of the Uniform Commercial Code or any applicable law or any First
Priority Document or Second Priority Document or any other circumstance whatsoever and (iii) the
fact that any such Liens in favor of any First Priority Secured Party securing any of the First
Priority Obligations are (x) subordinated to any Lien securing any obligation of any Loan Party
other than the Second Priority Obligations or (y) otherwise subordinated, voided, avoided,
invalidated or lapsed.

     (b) No First Priority Secured Party or Second Priority Secured Party shall object to or
contest, or support any other Person in contesting or objecting to, in any proceeding (including
without limitation, any Insolvency Proceeding), the validity, extent, perfection, priority or
enforceability of any security interest in the Common Collateral granted to the other.
Notwithstanding any failure by any First Priority Secured Party or Second Priority Secured Party
to perfect its security interests in the Common Collateral or any avoidance, invalidation or
subordination by any third party or court of competent jurisdiction of the security interests in
the Common Collateral granted to the First Priority Secured Parties or the Second Priority Secured
Parties, the priority and rights as between the First Priority Secured Parties and the Second
Priority Secured Parties with respect to the Common Collateral shall be as set forth herein.

     2.2 Nature of First Priority Obligations. The Second Priority
Representative on behalf of
itself and the other Second Priority Secured Parties acknowledges that the First Priority
Obligations currently represent debt that is revolving in nature and that the amount thereof that
may be outstanding at any time or from time to time may be increased or reduced and subsequently
reborrowed, and that the terms of the First Priority Obligations may be modified, extended or
amended from time to time, and that the aggregate amount of the First Priority Obligations may be
increased, replaced or refinanced, in each event, without notice to or consent by the Second
Priority Secured Parties and without affecting the provisions hereof, but only so long as, except
in the case of any DIP Financing, any such obligations are permitted to be incurred pursuant to
the Second Priority Documents as in effect on the date of this Agreement. The lien priorities
provided in Section 2.1 shall not be altered or otherwise affected by any such amendment,
modification, supplement, extension, repayment, reborrowing, increase, replacement, renewal,
restatement or refinancing of either the First Priority Obligations or the Second Priority
Obligations, or any portion thereof.

     2.3 Agreements Regarding Actions to Perfect Liens. (a) The Second
Priority Representative
on behalf of itself and the other Second Priority Secured Parties agrees that UCC-1 financing
statements, patent, trademark or copyright filings or other filings or recordings filed or recorded
by or on behalf of the Second Priority Representative with respect to the Common Collateral shall
be in form satisfactory to the First Priority Representative.

     (b) The Second Priority Representative agrees on behalf of itself and the other Second
Priority Secured Parties that all mortgages, deeds of trust, deeds and similar instruments
(collectively, “mortgages”) now or hereafter filed against Real Property that constitutes Common
Collateral in favor of or for the benefit of the Second Priority Representative and the other
Second Priority Secured Parties shall be in form satisfactory to the First Priority Representative
and shall contain the following notation: “The lien created by this mortgage on the property
described herein is junior and subordinate to the lien on such property created by any mortgage,
deed of trust or similar instrument now or hereafter granted to the First

 

 

Priority Representative, and its successors and assigns, in such property, in accordance with
the provisions of the Intercreditor Agreement dated as of October 4, 2010 among JPMorgan Chase
Bank, N.A., as Administrative Agent, Wells Fargo Bank, National Association, as Collateral Agent,
Roadhouse Financing Inc., a Delaware corporation (to be merged with and into Logan’s Roadhouse,
Inc., a Tennessee corporation, with Logan’s Roadhouse, Inc. as the surviving entity), as Borrower,
and the other Loan Parties referred to therein, as amended, modified or supplemented from time to
time.”

     (c) The First Priority Representative hereby acknowledges that, to the extent that it holds,
or a third party holds on its behalf, physical possession of or “control” (as defined in the
Uniform Commercial Code) over Common Collateral pursuant to the First Priority Security Documents,
such possession or control is also for the benefit of and on behalf of, and the First Priority
Representative or such third party holds such possession or control as bailee and agent for, the
Second Priority Representative and the other Second Priority Secured Parties solely to the extent
required to perfect their security interest in such Common Collateral (such bailment and agency for
perfection being intended, among other things, to satisfy the requirements of Sections 8-301(a)(2)
and 9-313(c) of the Uniform Commercial Code).
Nothing in the preceding sentence shall be construed to impose any duty on the First Priority
Representative (or any third party acting on its behalf) with respect to such Common Collateral or
provide the Second Priority Representative or any other Second Priority Secured Party with any
rights with respect to such Common Collateral beyond those specified in this Agreement and the
Second Priority Security Documents, provided that subsequent to the occurrence of
the First Priority Obligations Payment Date, the First Priority Representative shall (i) deliver to
the Second Priority Representative, at the Borrower’s sole cost and expense, the Common Collateral
in its possession or control together with any necessary endorsements to the extent required by the
Second Priority Documents (and to the extent not so required, such delivery shall be made to the
Borrower) or (ii) direct and deliver such Common Collateral as a court of competent jurisdiction
otherwise directs, and provided, further, that the provisions of this Agreement
are intended solely to govern the respective Lien priorities as between the First Priority Secured
Parties and the Second Priority Secured Parties and shall not impose on the First Priority Secured
Parties any obligations in respect of the disposition of any Common Collateral (or any proceeds
thereof) that would conflict with prior perfected Liens or any claims thereon in favor of any other
Person that is not a Secured Party.

     2.4 No New Liens. So long as the First Priority Obligations Payment Date
has not occurred,
the parties hereto agree that (a) there shall be no Lien, and no Loan Party shall have any right to
create any Lien, on any assets of any Loan Party securing any Second Priority Obligation if these
same assets are not subject to, and do not become subject to, a Lien securing the First Priority
Obligations and (b) if any Second Priority Secured Party shall acquire or hold any Lien on any
assets of any Loan Party securing any Second Priority Obligation which assets are not also subject
to the first-priority Lien of the First Priority Representative under the First Priority Documents,
then the Second Priority Representative, upon demand by the First Priority Representative, will
without the need for any further consent of any other Second Priority Secured Party,
notwithstanding anything to the contrary in any other Second Priority Document either (i) release
such Lien or (ii) assign it to the First Priority Representative as security for the First Priority
Obligations (in which case the Second Priority Representative may retain a junior Lien on such
assets subject to the terms hereof). To the extent that the foregoing provisions are not complied
with for any reason, without limiting any other rights and remedies available to the First Priority
Secured Parties, the Second Priority Representative and the other Second Priority Secured Parties
agree that any amounts received by or distributed to any of them pursuant to or as a result of
Liens granted in contravention of this Section 2.4 shall be subject to Section 4.1.

 

 

     SECTION 3. Enforcement Rights.

     3.1 Exclusive Enforcement. Until the First Priority Obligations Payment Date has occurred,
whether or not an Insolvency Proceeding has been commenced by or against any Loan Party, the
First Priority Secured Parties shall have the exclusive right to take and continue any
Enforcement Action with respect to the Common Collateral, without any consultation with or
consent of any Second Priority Secured Party, but subject to the provisos set forth in Sections
3.2 and 5.1. Upon the occurrence and during the continuance of a default or an event of default
under the First Priority Documents, the First Priority Representative and the other First
Priority Secured Parties may take and continue any Enforcement Action with respect to the First
Priority Obligations and the Common Collateral in such order and manner as they may determine in
their sole discretion.

     3.2 Standstill and Waivers. The Second Priority Representative, on
behalf of itself and the
other Second Priority Secured Parties, agrees that, until the First Priority Obligations Payment
Date has occurred, subject to the proviso set forth in Section 5.1:

     (a) they will not take or cause to be taken any Enforcement Action with respect to
the Common Collateral;

     (b) they will not take or cause to be taken any action, the purpose or effect of which
is to make any Lien in respect of any Second Priority Obligation pari passu with or senior
to, or to give any Second Priority Secured Party any preference or priority relative to,
the Liens with respect to the First Priority Obligations or the First Priority Secured
Parties with respect to any of the Common Collateral;

     (c) they will not contest, oppose, object to, interfere with, hinder or delay, in any
manner, whether by judicial proceedings (including without limitation the filing of an
Insolvency Proceeding) or otherwise, any foreclosure, sale, lease, exchange, transfer or
other disposition of the Common Collateral by any First Priority Secured Party or any other
Enforcement Action taken with respect to the Common Collateral (or any forbearance from
taking any Enforcement Action with respect to the Common Collateral) by or on behalf of any
First Priority Secured Party;

     (d) they have no right to (i) direct either the First Priority Representative or any
other First Priority Secured Party to exercise any right, remedy or power with respect to
the Common Collateral or pursuant to the First Priority Security Documents or (ii) consent
or object to the exercise by the First Priority Representative or any other First Priority
Secured Party of any right, remedy or power with respect to the Common Collateral or
pursuant to the First Priority Security Documents or to the timing or manner in which any
such right is exercised or not exercised (or, to the extent they may have any such right
described in this clause (d), whether as a junior lien creditor or otherwise, they hereby
irrevocably waive such right);

     (e) they will not institute any suit or other proceeding or assert in any suit,
Insolvency Proceeding or other proceeding any claim against any First Priority Secured
Party seeking damages from or other relief by way of specific performance, injunction or
otherwise, with respect to, and no First Priority Secured Party shall be liable for, any
action taken or omitted to be taken by any First Priority Secured Party with respect to the
Common Collateral or pursuant to the First Priority Documents; and

     (0 they will not seek, and hereby waive any right, to have the Common Collateral or any
part thereof marshaled upon any foreclosure or other disposition of the Common Collateral.

 

 

provided that, notwithstanding the foregoing, any Second Priority Secured Party
may exercise its rights and remedies in respect of the Common Collateral under the Second Priority
Security Documents or applicable law after the passage of a period of 180 days (the
“Standstill Period”) from the date of delivery of a notice in writing by the Second
Priority Representative to the First Priority Representative of its intention to exercise such
rights and remedies, which notice may only be delivered following the occurrence of and during the
continuation of an “Event of Default” under and as defined in the Second Priority Agreement;
provided, further, however, that, notwithstanding the foregoing, in no event
shall any Second Priority Secured Party exercise or continue to exercise any such rights or
remedies if, notwithstanding the expiration of the Standstill Period, (i) any First Priority
Secured Party shall have commenced and be diligently pursuing the exercise of any of its rights and
remedies with respect to any of the Common Collateral (prompt notice of such exercise to be given
to the Second Priority Representative) or (ii) an Insolvency Proceeding in respect of any Loan
Party shall have been
commenced; and provided, further, that in any Insolvency Proceeding commenced
by or against any Loan Party, the Second Priority Representative and the Second Priority Secured
Parties may take any action expressly permitted by Section 5.

     3.3 Judgment Creditors. In the event that any Second Priority
Secured Party becomes a
judgment lien creditor as a result of its enforcement of its rights as an unsecured creditor to
the extent permitted by applicable law, any such judgment lien on the Common Collateral shall
be subject to the terms of this Agreement for all purposes (including in relation to the First
Priority Liens and the First Priority Obligations) to the same extent as other Liens on the
Common Collateral securing the Second Priority Obligations are subject to the terms of this
Agreement.

     3.4 Cooperation. The Second Priority Representative, on behalf of
itself and the other
Second Priority Secured Parties, agrees that each of them shall take such actions as the
First Priority Representative shall reasonably request in connection with the exercise by
the First Priority Secured Parties of their rights set forth herein.

     3.5 No Additional Rights For the Loan Parties Hereunder. Except as
provided in Section 3.6,
if any First Priority Secured Party or Second Priority Secured Party shall enforce its rights or
remedies in violation of the terms of this Agreement, no Loan Party shall be entitled to use such
violation as a defense to any action by any First Priority Secured Party or Second Priority
Secured Party, nor to assert such violation as a counterclaim or basis for set off or recoupment
against any First Priority Secured Party or Second Priority Secured Party.

     3.6 Actions Upon Breach. (a) If any Second Priority Secured Party,
contrary to this
Agreement, commences or participates in any action or proceeding against the Borrower or any
Loan Party or the Common Collateral, such Loan Party, with the prior written consent of the
First Priority Secured Representative, may interpose as a defense or dilatory plea the making
of this Agreement, and any First Priority Secured Party may intervene and interpose such
defense or plea in its or their name.

     (b) Should any Second Priority Secured Party, contrary to this Agreement, in any way take,
attempt to or threaten to take any action with respect to the Common Collateral (including,
without limitation, any attempt to realize upon or enforce any remedy with respect to this
Agreement), or fail to take any action required by this Agreement, any First Priority Secured
Party (in its own name) or the Borrower or the relevant Loan Party may obtain relief against such
Second Priority Secured Party by injunction, specific performance and/or other appropriate
equitable relief, it being understood and agreed by the Second Priority Representative on behalf
of each Second Priority Secured Party that (i) the First Priority Secured Parties’ damages from
its actions may at that time be difficult to ascertain and may be irreparable, and (ii) each
Second Priority Secured Party waives any defense that the Loan Parties and/or

 

 

the First Priority Secured Parties cannot demonstrate damage and/or be made whole by the
awarding of damages.

     3.7 Option to Purchase. (a) The First Priority Representative agrees that
it will give the Second Priority Representative written notice (the “Enforcement Notice”)
within five Business Days after commencing any Enforcement Action with respect to Common
Collateral (which notice shall be effective for all Enforcement Actions taken after the date of
such notice so long as the First Priority Representative is diligently pursuing in good faith the
exercise of its default or enforcement rights or remedies against, or diligently attempting in good
faith to vacate any stay of enforcement rights of its senior Liens on a material portion of the
Common Collateral, including, without limitation, all Enforcement Actions identified in such
notice). Any Second Priority Secured Party shall have the option upon receipt of the Enforcement
Notice by the Second Priority Representative, by irrevocable written notice (the “Purchase
Notice”) delivered by the Second Priority Representative to the First Priority
Representative no later than five Business Days after receipt by the Second Priority Representative
of the Enforcement Notice, to purchase all (but not less than all) of the First Priority
Obligations from the First Priority Secured Parties. If the Second Priority Representative so
delivers the Purchase Notice, the First Priority Representative shall terminate any existing
Enforcement Actions and shall not take any further Enforcement Actions,
provided, that the Purchase (as defined below) shall have been consummated on
the date specified in the Purchase Notice in accordance with this Section 3.7.

     (b) On the date specified by the Second Priority Representative in the Purchase Notice (which
shall be a Business Day not less than five Business Days, nor more than ten Business Days, after
receipt by the First Priority Representative of the Purchase Notice), the First Priority Secured
Parties shall, subject to any required approval of any court or other governmental authority then
in effect, sell to the Second Priority Secured Parties electing to purchase pursuant to Section
3.7(a) (the “Purchasing Parties”), and the Purchasing Parties shall purchase (the
“Purchase”) from the First Priority Secured Parties, the First Priority Obligations;
 provided, that the First Priority Obligations purchased shall not
include any rights of First Priority Secured Parties with respect to indemnification and other
obligations of the Loan Parties under the First Priority Documents that are expressly stated to
survive the termination of the First Priority Documents (the “Surviving Obligations”).

     (c) Without limiting the obligations of the Loan Parties under the First Priority
Documents to the First Priority Secured Parties with respect to the Surviving Obligations (which
shall not be transferred in connection with the Purchase), on the date of the Purchase, the
Purchasing Parties shall (i) pay to the First Priority Secured Parties as the purchase price (the
“Purchase Price”) therefor the full amount of all First Priority Obligations then
outstanding and unpaid (including principal, accrued and unpaid interest at the contract rate,
fees, breakage costs, attorneys’ fees and expenses, and, in the case of any Specified Swap
Agreements, the amount that would be payable by the relevant Loan Party thereunder if it were to
terminate such Specified Swap Agreements on the date of the Purchase or, if not terminated, an
amount determined by the relevant First Priority Secured Party to be necessary to collateralize its
credit risk arising out of such Specified Swap Agreements), (ii) furnish cash collateral (the
“Cash Collateral”) to the First Priority Secured Parties in such amounts as the
relevant First Priority Secured Parties determine is reasonably necessary to secure such First
Priority Secured Parties in connection with any outstanding letters of credit (not to exceed 103%
of the aggregate undrawn face amount of such letters of credit), (iii) agree to reimburse the First
Priority Secured Parties for any loss, cost, damage or expense (including attorneys’ fees and
expenses) in connection with any fees, costs or expenses related to any checks or other payments
provisionally credited to the First Priority Obligations or as to which the First Priority Secured
Parties have not yet received final payment and (iv) agree, after written request from the First
Priority Representative, to reimburse the First Priority Secured Parties in respect of
indemnification obligations of the Loan Parties under the First Priority Documents as to matters or
circumstances known to the

 

 

Purchasing Parties at the time of the Purchase which could reasonably be expected to result in
any loss, cost, damage or expense to any of the First Priority Secured Parties,
provided that, in no event shall any Purchasing Party have any liability for
such amounts in excess of proceeds of Common Collateral received by the Purchasing Parties.

     (d) The Purchase Price and Cash Collateral shall be remitted by wire transfer in immediately
available funds to such account of the First Priority Representative as it shall designate to the
Purchasing Parties. The First Priority Representative shall, promptly following its receipt
thereof, distribute the amounts received by it in respect of the Purchase Price to the First
Priority Secured Parties in accordance with the First Priority Agreement. Interest shall be
calculated to but excluding the day on which the Purchase occurs if the amounts so paid by the
Purchasing Parties to the account designated by the First Priority Representative are received in
such account prior to 12:00 noon, New York City time, and interest shall be calculated to and
including such day if the amounts so paid by the Purchasing Parties to the account designated by
the First Priority Representative are received in such account later than 12:00 noon, New York
City time.

     (e) The Purchase shall be made without representation or warranty of any kind by the First
Priority Secured Parties as to the First Priority Obligations, the Common Collateral or otherwise
and without recourse to the First Priority Secured Parties, except that the First Priority
Secured Parties shall represent and warrant: (i) the amount of the First Priority Obligations
being purchased, (ii) that the First Priority Secured Parties own the First Priority Obligations
free and clear of any Liens and (iii) that the First Priority Secured Parties have the right to
assign the First Priority Obligations and the assignment is duly authorized.

     (f) For the avoidance of doubt, the parties hereto hereby acknowledge and agree that in no
event shall the Second Priority Representative (i) be deemed to be a Purchasing Party for
purposes of this Section 3.7, (ii) be subject to or liable for any obligations of a Purchasing
Party pursuant to this Section 3.7 or (iii) incur any liability to any First Priority Secured
Party or any other Person in connection with any Purchase pursuant to this Section 3.7.

     SECTION 4. Application of Proceeds of Common Collateral; Dispositions and
Releases of Common Collateral; Inspection and Insurance.

     4.1 Application of Proceeds: Turnover Provisions. All
proceeds of Common Collateral
(including without limitation any interest earned thereon) resulting from the sale, collection or
other disposition of Common Collateral in connection with an Enforcement Action, whether or not
pursuant to an Insolvency Proceeding, shall, subject to Section 9.14 hereof, be distributed as
follows: first to the First Priority Representative for application to the First Priority
Obligations in accordance with the terms of the First Priority Documents, until the First Priority
Obligations Payment Date has occurred and thereafter, to the Second Priority
Representative for application in accordance with the Second Priority Documents. Until the
occurrence of the First Priority Obligations Payment Date, any Common Collateral, including without
limitation any such Common Collateral constituting proceeds, that may be received by any Second
Priority Secured Party in violation of this Agreement shall be segregated and held in trust and
promptly paid over to the First Priority Representative, for the benefit of the First Priority
Secured
Parties, in the same form as received, with any necessary endorsements, and each Second Priority
Secured Party hereby authorizes the First Priority Representative to make any such endorsements as
agent for the Second Priority Representative (which authorization, being coupled with an interest,
is irrevocable).

     4.2 Releases of Second Priority Lien. (a) Upon any release, sale or
disposition of Common
Collateral permitted pursuant to the terms of the First Priority Documents that results in the
release of the

 

 

First Priority Lien on any Common Collateral (excluding (i) any sale or other disposition that is
expressly prohibited by the Second Priority Agreement as in effect on the date hereof unless such
sale or disposition is consummated in connection with an Enforcement Action or consummated after
the institution of any Insolvency Proceeding and (ii) the release of all First Priority Liens in
connection with
the payment in full of all First Priority Obligations), the Second Priority Lien on such Common
Collateral (excluding any portion of the proceeds of such Common Collateral remaining after the
First Priority Obligations Payment Date occurs) shall be automatically and unconditionally released
with no further consent or action of any Person.

     (b) The Second Priority Representative shall promptly execute and deliver such release
documents and instruments (which shall be prepared by the First Priority Representative) at the
expense of the Borrower and shall take such further actions as the First Priority Representative
shall request to evidence any release of the Second Priority Lien described in paragraph (a). The
Second Priority Representative hereby appoints the First Priority Representative and any officer or
duly authorized person of the First Priority Representative, with full power of substitution, as
its true and lawful attorney-in-fact with full irrevocable power of attorney in the place and stead
of the Second Priority Representative and in the name of the Second Priority Representative or in
the First Priority Representative’s own name, from time to time, in the First Priority
Representative’s sole discretion, for the purposes of carrying out the terms of this Section 4.2,
to take any and all appropriate action and to execute and deliver any and all documents and
instruments as may be necessary or desirable to accomplish the purposes of this Section 4.2,
including, without limitation, any financing statements, endorsements, assignments, releases or
other documents or instruments of transfer (which appointment, being coupled with an interest, is
irrevocable).

     4.3 Inspection Rights and Insurance. (a) Any First Priority Secured
Party and its
representatives may at any time inspect, repossess, remove and otherwise deal with the Common
Collateral in accordance with the terms of the First Priority Agreements, and the First
Priority Representative may advertise and conduct public auctions or private sales of the
Common Collateral in accordance with the terms of the First Priority Agreements, in each case
without notice to, the involvement of or interference by any Second Priority Secured Party or
liability to any Second Priority Secured Party.

     (b) Proceeds of Common Collateral include insurance proceeds in respect of such Common
Collateral and therefore the lien priorities provided in Section 2.1 shall govern the ultimate
disposition of casualty insurance proceeds. If the First Priority Representative and Second
Priority Representative are to be named as loss payees with respect to insurance policies relating
to Common Collateral, pursuant to the terms of the First Priority Agreements and the Second
Priority Agreements, as applicable, the First Priority Representative will be a loss payee until
the First Priority Obligations Payment Date and thereafter the Second Priority Representative will
be a loss payee until the Second Priority Obligations are paid in full. Until the First Priority
Obligations Payment Date has occurred, the First Priority Representative shall have the sole and
exclusive right, as against the Second Priority Representative, to adjust or settle any insurance
claims in the event of any covered loss, theft or destruction of Common Collateral to the extent
provided for, and in accordance with, the First Priority Agreements. All proceeds of such insurance
shall be remitted to the First Priority Representative or the Second Priority Representative, as
the case may be, and each of the Second Priority Representative and First Priority Representative
shall cooperate (if necessary) in a reasonable manner in effecting the payment of insurance
proceeds in accordance with Section 4.1.

 

 

     SECTION 5. Insolvency Proceedings.

     5.1 Filing of Motions. Until the First Priority Obligations Payment Date has occurred, the
Second Priority Representative agrees on behalf of itself and the other Second Priority Secured
Parties that no Second Priority Secured Party shall, in or in connection with any Insolvency
Proceeding, file any pleadings or motions, take any position at any hearing or proceeding of any
nature, or otherwise take any action whatsoever, in each case that (a) violates, or is prohibited
by, this Section 5 (or, in the absence of an Insolvency Proceeding, otherwise would violate or be
prohibited by this Agreement), (b) asserts any right, benefit or privilege that arises in favor of
the Second Priority Secured Parties, in whole or in part, as a result of their interest in the
Common Collateral (unless the assertion of such right is expressly permitted by this Agreement) or
(c) challenges the validity, priority, enforceability or voidability of any Liens or claims held by
the First Priority Representative or any other First Priority Secured Party with respect to the
Common Collateral, or the extent to which the First Priority Obligations constitute secured claims
or the value thereof under Section 506(a) of the Bankruptcy Code or otherwise;
provided that the Second Priority Representative may (i) file a proof of claim
in an Insolvency Proceeding and (ii) file any necessary responsive or defensive pleadings in
opposition to any motion or other pleadings made by any Person objecting to or otherwise seeking
the disallowance of any claims of the Second Priority Secured Parties on the Common Collateral,
subject to the limitations contained in this Agreement and only if consistent with the terms and
the limitations on the Second Priority Representative imposed hereby.

     5.2 Financing Matters. If any Loan Party becomes subject to any
Insolvency Proceeding at
any time prior to the First Priority Obligations Payment Date, and if the First Priority
Representative or the other First Priority Secured Parties desire to consent (or not object) to
the use of cash collateral under the Bankruptcy Code or to provide financing to any Loan Party
under the Bankruptcy Code or to consent (or not object) to the provision of such financing to any
Loan Party by any third party (any such financing, “DIP Financing”), then the Second
Priority Representative agrees, on behalf of itself and the other Second Priority Secured Parties,
that each Second Priority Secured Party (a) will be deemed to have consented to, will raise no
objection to, nor support any other Person objecting to, the use of such cash collateral or to
such DIP Financing, (b) will not request or accept adequate protection or any other relief in
connection with the use of such cash collateral or such DIP Financing except as set forth in
Section 5.4 below, (c) will subordinate (and will be deemed hereunder to have
subordinated) the Second Priority Liens on any Common Collateral (i) to such DIP Financing on the
same terms as the First Priority Liens are subordinated thereto (and such subordination will not
alter in any manner the terms of this Agreement), (ii) to any adequate protection provided to the
First Priority Secured Parties and (iii) to any “carve-out” agreed to by the First Priority
Representative or the other First Priority Secured Parties, and (d) agrees that notice received
two calendar days prior to the entry of an order approving such usage of cash collateral or
approving such financing shall be adequate notice so long as (A) the Second Priority
Representative retains its Lien on the Common Collateral to secure the Second Priority Obligations
(in each case, including proceeds thereof arising after the commencement of the case under the
Bankruptcy
Code) and (B) all Liens on Common Collateral securing any such DIP Financing shall be senior to or
on a parity with the Liens of the First Priority Representative and the First Priority Creditors on
Common Collateral securing the First Priority Obligations.

     5.3 Relief From the Automatic Stay. Until the First Priority Obligations
Payment Date has
occurred, the Second Priority Representative agrees, on behalf of itself and the other Second
Priority Secured Parties, that none of them will seek relief from the automatic stay or from any
other stay in any Insolvency Proceeding or take any action in derogation thereof, in each case
in respect of any Common Collateral, without the prior written consent of the First Priority
Representative.

 

 

     5.4 Adequate Protection. The Second Priority Representative, on behalf
of itself and the
other Second Priority Secured Parties, agrees that, prior to the First Priority Obligations Payment
Date, none of them shall object, contest, or support any other Person objecting to or contesting,
(a) any request by the First Priority Representative or the other First Priority Secured Parties
for adequate protection of its interest in the Common Collateral or any adequate protection
provided to the First Priority Representative or the other First Priority Secured Parties, (b) any
objection by the First Priority Representative or any other First Priority Secured Parties to any
motion, relief, action or proceeding based on a claim of a lack of adequate protection in the
Common Collateral or (c) the payment of interest, fees, expenses or other amounts to the First
Priority Representative or any other First Priority Secured Party under Section 506(b) or 506(c) of
the Bankruptcy Code or otherwise. The Second Priority
Representative, on behalf of itself and the other Second Priority Secured Parties, further agrees
that, prior to the First Priority Obligations Payment Date, none of them shall assert or enforce
any claim under Section 506(b) or 506(c) of the Bankruptcy Code or otherwise that is senior to or
on a parity with the First Priority Liens for costs or expenses of preserving or disposing of any
Common Collateral. Notwithstanding anything to the contrary set forth in this
Section and in Section 5.2(c)(ii), but subject to all other
provisions of this Agreement (including, without limitation, Section 5.2(c)(i)
and Section 5.3), in any Insolvency Proceeding, (i) if the First Priority
Secured Parties (or any subset thereof) are granted adequate protection consisting of additional
collateral (with replacement Liens on such additional collateral) and superpriority claims in
connection with any DIP Financing or use of cash collateral with respect to the Common Collateral,
and the First Priority Secured Parties do not object to the adequate protection being provided to
them, then in connection with any such DIP Financing or use of cash collateral the Second Priority
Representative, on behalf of itself and any of the Second Priority Secured Parties, may, as
adequate protection of their interests in the Common Collateral, seek or accept (and the First
Priority Representative and the First Priority Secured Parties shall not object to) adequate
protection consisting solely of (x) a replacement Lien on the same additional collateral,
subordinated to the Liens securing the First Priority Obligations and such DIP Financing on the
same basis as the other Second Priority Liens on the Common Collateral are so subordinated to the
First Priority Obligations under this Agreement and (y) superpriority claims junior in all respects
to the superpriority claims granted to the First Priority Secured Parties, provided, however, that
the Second Priority Representative shall have irrevocably agreed, pursuant to Section 1129(a)(9) of
the Bankruptcy Code, on behalf of itself and the Second Priority Secured Parties, in any
stipulation and/or order granting such adequate protection, that such junior superpriority claims
may be paid under any plan of reorganization in any combination of cash, debt, equity or other
property having a value on the effective date of such plan equal to the allowed amount of such
claims and (ii) in the event the Second Priority Representative, on behalf of itself and the Second
Priority Secured Parties, seeks or accepts adequate protection in accordance with clause (i) above
and such adequate protection is granted in the form of additional collateral, then the Second
Priority Representative, on behalf of itself or any of the Second Priority Secured Parties, agrees
that the First Priority Representative shall also be granted a senior Lien on such additional
collateral as security for the First Priority Obligations and any such DIP Financing and that any
Lien on such additional collateral securing the Second Priority Obligations shall be subordinated
to the Liens on such collateral securing the First Priority Obligations and any such DIP Financing
(and all Obligations relating thereto) and any other Liens granted to the First Priority Secured
Parties as adequate protection, with such subordination to be on the same terms that the other
Liens securing the Second Priority Obligations are subordinated to such First Priority Obligations
under this Agreement. The Second Priority Representative, on behalf of itself and the other Second
Priority Secured Parties, agrees that except as expressly set forth in this Section none of them
shall seek or accept adequate protection with respect to their interests in the Common Collateral
without the prior written consent of the First Priority Representative.

     5.5 Avoidance Issues. If any First Priority Secured Party is required in
any Insolvency
Proceeding or otherwise to disgorge, turn over or otherwise pay to the estate of any Loan Party any

 

 

amount (a
“Recovery”), whether received as proceeds of security, enforcement of any right of
set-off or otherwise, because such amount was avoided or ordered to be paid or disgorged for any
reason, including without limitation because it was found to be a fraudulent or preferential
transfer, then the First Priority Obligations shall be reinstated to the extent of such Recovery
and deemed to be outstanding as if such payment had not occurred and the First Priority Obligations
Payment Date shall be deemed not to have occurred. If this Agreement shall have been terminated
prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior
termination shall not diminish, release, discharge, impair or otherwise affect the obligations of
the parties hereto. The Second Priority Representative, on behalf of itself and each of the Second
Priority Secured Parties, agrees that none of them shall be entitled to benefit from any avoidance
action affecting or otherwise relating to any distribution or allocation made in accordance with
this Agreement, whether by preference or otherwise, it being understood and agreed that the benefit
of such avoidance action otherwise allocable to them shall instead be allocated and turned over for
application in accordance with the priorities set forth in this Agreement.

     5.6 Asset Dispositions in an Insolvency Proceeding. In an
Insolvency Proceeding or
otherwise, neither the Second Priority Representative nor any other Second Priority Secured
Party shall oppose any sale or disposition of any Common Collateral that is supported by the
First Priority Secured Parties, and the Second Priority Representative and each other Second
Priority Secured Party will be deemed to have consented under Section 363 of the Bankruptcy Code
(and otherwise) to any sale supported by the First Priority Secured Parties and to have released
their Liens on such assets.

     5.7 Separate Grants of Security and Separate Classification. Each
Secured Party
acknowledges and agrees that (a) the grants of Liens pursuant to the First Priority Security
Documents and the Second Priority Security Documents constitute two separate and distinct grants
of Liens and (b) because of, among other things, their differing rights in the Common Collateral,
the First Priority Obligations and the Second Priority Obligations are fundamentally different
from each other and must be separately classified in any plan of reorganization proposed or
adopted in an Insolvency Proceeding. To further effectuate the intent of the parties as provided
in the immediately preceding sentence, if it is held that the claims of the First Priority Secured
Parties and Second Priority Secured Parties in respect of the Common Collateral constitute only
one secured claim (rather than separate classes of senior and junior secured claims), then the
Second Priority Representative, on behalf of itself and the other Second Priority Secured Parties,
hereby acknowledges and agrees that all distributions shall be made as if there were separate
classes of senior and junior secured claims against the Loan Parties in respect of the Common
Collateral, with the effect being that, to the extent that the aggregate value of the Common
Collateral is sufficient (for this purpose ignoring all claims held by the Second Priority Secured
Parties), the First Priority Secured Parties shall be entitled to receive, in addition to amounts
distributed to them in respect of principal, pre-petition interest and other claims, all amounts
owing in respect of Post-Petition Interest before any distribution is made in respect of the
claims held by the Second Priority Secured Parties. The Second Priority Representative, on behalf
of itself and the other Second Priority Secured Parties, hereby acknowledges and agrees to turn
over to the First Priority Representative amounts otherwise received or receivable by them to the
extent necessary to effectuate the intent of the preceding sentence, even if such turnover has the
effect of reducing the claim or recovery of the Second Priority Secured Parties.

     5.8 No Waivers of Rights of First Priority Secured Parties. Nothing
contained herein shall
prohibit or in any way limit the First Priority Representative or any other First Priority
Secured Party from objecting in any Insolvency Proceeding or otherwise to any action taken by any
Second Priority Secured Party not expressly permitted hereunder, including the seeking by any
Second Priority Secured Party of adequate protection with respect to its interests in the Common
Collateral (except as provided in Section 5.4).

 

 

     5.9 Other Matters. To the extent that the Second Priority
Representative or any Second
Priority Secured Party has or acquires rights under Section 363 or Section 364 of the
Bankruptcy Code with respect to any of the Common Collateral, the Second Priority
Representative agrees, on behalf of itself and the other Second Priority Secured Parties not to
assert any of such rights without the prior written consent of the First Priority
Representative unless expressly permitted to do so hereunder.

     5.10 Effectiveness in Insolvency Proceedings. This Agreement, which
the parties hereto expressly acknowledge is a “subordination agreement” under section 510(a)
of the Bankruptcy Code, shall be effective before, during and after the commencement of an
Insolvency Proceeding.

     SECTION 6. Security Documents.

     (a) Each Loan Party and the Second Priority Representative, on behalf of itself and
the Second Priority Secured Parties, agrees that it shall not at any time execute or deliver
any amendment or other modification to any of the Second Priority Documents in violation of
this Agreement.

     (b) Each Loan Party and the First Priority Representative, on behalf of itself and the First
Priority Secured Parties, agrees that it shall not at any time execute or deliver any amendment or
other modification to any of the First Priority Documents in violation of this Agreement.

     (c) In the event the First Priority Representative enters into any amendment, waiver or
consent in respect of any of the First Priority Security Documents for the purpose of adding to, or
deleting from, or waiving or consenting to any departures from any provisions of, any First
Priority Security Document or changing in any manner the rights of any parties thereunder, in each
case solely with respect to any Common Collateral, then such amendment, waiver or consent shall
apply automatically to any comparable provision of the Comparable Second Priority Security Document
without the consent of or action by any Second Priority Secured Party (with all such amendments,
waivers and modifications subject to the terms hereof); provided that (other
than with respect to amendments, modifications or waivers that secure additional extensions of
credit and add additional secured creditors and do not violate the express provisions of the Second
Priority Agreements), (i) no such amendment, waiver or consent shall have the effect of removing
assets subject to the Lien of any Second Priority Security Document, except to the extent that a
release of such Lien is permitted by Section 4.2, (ii) any such amendment, waiver or consent that
adversely affects the rights of the Second Priority Secured Parties and does not affect the First
Priority Secured Parties in a like or similar manner shall not apply to the Second Priority
Security Documents without the consent of the Second Priority Representative, (iii) no such
amendment, waiver or consent with respect to any provision applicable to the collateral agent under
the Second Priority Documents shall be made without the prior written consent of such collateral
agent and (iv) notice of such amendment, waiver or consent shall be given to the Second Priority
Representative no later than 30 days after its effectiveness, provided that the
failure to give such notice shall not affect the effectiveness and validity thereof.

     (d) The First Priority Obligations and the Second Priority Obligations may be refinanced or
replaced, in whole or in part, in each case, without notice to, or the consent (except to the
extent a consent is otherwise required to permit the refinancing transaction under any First
Priority Agreement or any Second Priority Agreement) of any First Priority Secured Party or any
Second Priority Secured Party, all without affecting the Lien priorities provided for herein or the
other provisions hereof; provided, however, that the holders of any such
refinancing or replacement indebtedness (or an authorized agent or trustee on their behalf) bind
themselves in writing to the terms of this Agreement pursuant to such documents or agreements
(including amendments or supplements to this Agreement) as the First Priority Representative or the
Second Priority Representative, as the case may be, shall reasonably request and in

 

 

form and substance reasonably acceptable to the First Priority Representative or the
Second Priority Representative, as the case may be; provided that such
documents or agreements shall comply with Section 6(a) and Section 6(b).

     (e) If at any time in connection with or after the discharge of all First Priority
Obligations, the Borrower enters into any replacement First Priority Agreement secured by all or a
portion of the First Priority Collateral on a first-priority basis, then such prior discharge of
First Priority Obligations shall automatically be deemed not to have occurred for the purposes of
this Agreement, and the obligations under such replacement First Priority Agreement shall
automatically be treated as First Priority Obligations for all purposes of this Agreement,
including for purposes of the Lien priorities and rights in respect of the First Priority
Collateral (or such portion thereof) set forth therein. The termination of the Existing First
Priority Agreement in connection with any such replacement shall not be deemed to be the First
Priority Obligations Payment Date.

     (f) In connection with any refinancing or replacement contemplated by Section 6(d) or 6(e),
this Agreement may be amended at the request and sole expense of the Borrower, and without the
consent of the First Priority Representative, the First Priority Secured Parties, or the Second
Priority Representative or the Second Priority Secured Parties (a) to add parties (or any
authorized agent or trustee therefor) providing any such refinancing or replacement indebtedness,
(b) to establish that Liens on any First Priority Collateral securing such refinancing or
replacement indebtedness shall have the same priority (or junior priority) as the Liens on any
First Priority Collateral securing the indebtedness being refinanced or replaced and (c) to
establish that Liens on any Second Priority Collateral securing such refmancing or replacement
indebtedness shall have the same priority as the Liens on any Second Priority Collateral securing
the indebtedness being refinanced or replaced, all on the terms provided for immediately prior to
such refinancing or replacement.

     SECTION 7. Reliance; Waivers; etc.

     7.1 Reliance. All extensions of credit under the First Priority Documents made after the date
hereof are deemed to have been made or incurred, in reliance upon this Agreement. The Second
Priority Representative, on behalf of itself and the Second Priority Secured Parties, expressly
waives all notice of the acceptance of and reliance on this Agreement by the First Priority
Representative and the First Priority Secured Parties. The Second Priority Documents are deemed to
have been executed and delivered and all extensions of credit thereunder are deemed to have been
made or incurred, in reliance upon this Agreement. The First Priority Representative, on behalf of
itself and the First Priority Secured Parties, expressly waives all notices of the acceptance of
and reliance on this Agreement by the Second Priority Representative and the Second Priority
Secured Parties.

     7.2 No Warranties or Liability. The Second Priority Representative
and the First Priority
Representative acknowledge and agree that neither has made any representation or warranty with
respect to the execution, validity, legality, completeness, collectibility or enforceability of
any First Priority Document or any Second Priority Document. Except as otherwise provided in this
Agreement, the Second Priority Representative and the First Priority Representative will be
entitled to manage and supervise their respective extensions of credit to any Loan Party in
accordance with law and their usual practices, modified from time to time as they deem
appropriate.

     7.3 No Waivers. No right or benefit of any party hereunder shall at
any time in any way be
prejudiced or impaired by any act or failure to act on the part of such party or any other party
hereto or by any noncompliance by any Loan Party with the terms and conditions of any of the First
Priority Documents or the Second Priority Documents.

 

 

     SECTION 8. Obligations Unconditional.

     8.1 First Priority Obligations Unconditional. All rights and interests of the First Priority
Secured Parties hereunder, and all agreements and obligations of the Second Priority Secured
Parties (and, to the extent applicable, the Loan Parties) hereunder, shall remain in full
force and effect irrespective of:

     (a) any lack of validity or enforceability of any First Priority Document;

     (b) any change in the time, place or manner of payment of, or in any other term of,
all or any portion of the First Priority Obligations, or any amendment, waiver or other
modification, whether by course of conduct or otherwise, or any refinancing, replacement,
refunding or restatement of any First Priority Document;

     (c) prior to the First Priority Obligations Payment Date, any exchange, release,
voiding, avoidance or non-perfection of any security interest in any Common Collateral or
any other collateral, or any release, amendment, waiver or other modification, whether by
course of conduct or otherwise, or any refinancing, replacement, refunding or restatement of
all or any portion of the First Priority Obligations or any guarantee thereof; or

     (d) any other circumstances that otherwise might constitute a defense available to,
or a discharge of, any Loan Party in respect of the First Priority Obligations, or of any
of the Second Priority Representative or any Second Priority Secured Party, or any Loan
Party, to the extent applicable, in respect of this Agreement (other than the occurrence
of the First Priority Obligations Payment Date).

     8.2 Second Priority Obligations Unconditional. All rights and
interests of the Second
Priority Secured Parties hereunder, and all agreements and obligations of the First Priority
Secured Parties (and, to the extent applicable, the Loan Parties) hereunder, shall remain in full
force and effect irrespective of:

     (a) any lack of validity or enforceability of any Second Priority Document;

     (b) any change in the time, place or manner of payment of, or in any other term of,
all or any portion of the Second Priority Obligations, or any amendment, waiver or other
modification, whether by course of conduct or otherwise, or any refinancing, replacement,
refunding or restatement of any Second Priority Document;

     (c) any exchange, release, voiding, avoidance or non-perfection of any security
interest in any Common Collateral or any other collateral, or any release, amendment,
waiver or other modification, whether by course of conduct or otherwise, or any
refinancing, replacement, refunding or restatement of all or any portion of the Second
Priority Obligations or any guarantee thereof; or

     (d) any other circumstances that otherwise might constitute a defense available to,
or a discharge of, any Loan Party in respect of the Second Priority Obligations or any
First Priority Secured Party in respect of this Agreement.

 

 

     SECTION 9. Miscellaneous.

     9.1 Conflicts. In the event of any conflict between the provisions of this Agreement and the
provisions of any First Priority Document or any Second Priority Document, the provisions of this
Agreement shall govern. Notwithstanding the foregoing, the parties hereto acknowledge that the
terms of this Agreement are not intended to and shall not, as between the Loan Parties and the
Secured Parties, negate, impair, waive or cancel any rights granted to, or carry liability or
obligation of, any Loan Party in the First Priority Documents and the Second Priority Documents or
impose any additional obligations on the Loan Parties (other than as expressly set forth herein).

     9.2 Continuing Nature of Provisions. This Agreement shall continue
to be effective, and
shall not be revocable by any party hereto, until the First Priority Obligation Payment Date shall
have occurred subject to the reinstatement as expressly set forth herein. This is a continuing
agreement and the First Priority Secured Parties and the Second Priority Secured Parties may
continue, at any time and without notice to the other parties hereto, to extend credit and other
financial accommodations, lend monies and provide indebtedness to, or for the benefit of, Borrower
or any other Loan Party on the faith hereof.

     9.3 Amendments: Waivers. (a) No amendment or modification of any of
the provisions of
this Agreement shall be effective unless the same shall be in writing and signed by the First
Priority Representative (in accordance with the First Priority Agreement) and the Second Priority
Representative (in accordance with the Second Priority Agreement), and, in the case of amendments
or modifications of Sections 3.5, 3.6, 5.2, 5.4, 6(c), 6(d), 6(e), 6(f), 9.3, 9.5 or 9.6, the Loan
Parties, and each waiver, if any, shall be a waiver only with respect to the specific instance
involved and shall in no way impair the rights of the parties making such waiver or the
obligations of the other parties to such party in any other respect or at any other time. Anything
herein to the contrary notwithstanding, no consent of any Loan Party shall be required for
amendments, modifications or waivers of any other provisions of this Agreement other than those
that (i) affect any obligation or right of the Loan Parties hereunder or under the First Priority
Documents or the Second Priority Documents or that would impose any additional obligations on the
Loan Parties or (ii) change the rights of the Loan Parties to refinance the First Priority
Obligations or the Second Priority Obligations.

     (b) It is understood that this Agreement may be amended from time to time at the request of
the Borrower, at the Borrower’s sole expense, and without the consent of the First Priority
Representative, Second Priority Representative, any First Priority Secured Party or any Second
Priority Secured Party to (i) add other parties holding additional Indebtedness or obligations that
constitute First Priority Obligations (“Additional First Priority Debt”) or Second
Priority Obligations (“Additional Second Priority Debt”) (or any agent or trustee
thereof) in each case to the extent such Indebtedness or obligation is permitted to be incurred by
the First Priority Agreement and Second Priority Agreement then extant, (ii) in the case of
Additional Second Priority Debt, (1) establish that the Lien on the Common Collateral securing such
Additional Second Priority Debt shall be junior and subordinate in all respects to all Liens on the
Common Collateral securing any First Priority Obligations and shall share in the benefits of the
Common Collateral equally and ratably with all Liens on the Common Collateral securing any Second
Priority Obligations, and (2) provide to the holders of such Additional Second Priority Debt (or
any agent or trustee thereof) the comparable rights and benefits (including any improved rights and
benefits that have been consented to by the First Priority Representative for the benefit of all
Second Priority Debt) as are provided to the holders of Second Priority Obligations under this
Agreement, and (iii) in the case of Additional First Priority Debt, (1) establish that the Lien on
the Common Collateral securing such Additional First Priority Debt shall be superior in all
respects to all Liens on the Common Collateral securing any Second Priority Obligations and shall
share in the benefits of the Common

 

 

Collateral equally and ratably with all Liens on the Common Collateral securing any First Priority
Lien Obligations, and (2) provide to the holders of such Additional First Priority Debt (or any
agent or trustee thereof) the comparable rights and benefits as are provided to the holders of
First Priority Lien Obligations under this Agreement, in each case so long as such modifications do
not expressly violate the provisions of any First Priority Agreement or Second Priority Agreement.
Any such additional party and each First Priority Representative and Second Priority Representative
shall be entitled to rely on the determination of the Borrower that such modifications do not
violate any First Priority Agreement or Second Priority Agreement if such determination is set
forth in an Officers’ Certificate and an opinion of counsel delivered to such party, the First
Priority Representative and the Second Priority Representative. Any amendment to this Agreement
that is proposed to be effected without the consent of any First Priority Representative shall be
submitted to such First Priority Representative reasonably promptly after the effectiveness of such
amendment, and no such First Priority Representative shall be deemed to have knowledge of any such
amendment until it receives a copy of such amendment. Any amendment to this Agreement that is
proposed to be effected without the consent of any Second Priority Representative shall be
submitted to such Second Priority Representative reasonably promptly after the effectiveness of
such amendment, and no such Second Priority Representative shall be deemed to have knowledge of any
such amendment until it receives a copy of such amendment.

     9.4 Information Concerning Financial Condition of the Borrower and the other Loan
Parties.
Neither the Second Priority Representative nor the First Priority Representative hereby assumes
responsibility for keeping each other informed of the financial condition of the Borrower and each
of the other Loan Parties and all other circumstances bearing upon the risk of nonpayment of the
First Priority Obligations or the Second Priority Obligations. The Second Priority Representative
and the First Priority Representative hereby agree that no party shall have any duty to advise any
other party of information known to it regarding such condition or any such circumstances. In the
event the Second Priority Representative or the First Priority Representative, in its sole
discretion, undertakes at any time or from time to time to provide any information to any other
party to this Agreement, it shall be under no obligation (a) to provide or update any such
information to such other party or any other party on any subsequent occasion, (b) to undertake
any investigation not a part of its regular business routine, or (c) to disclose any other
information. Neither the First Priority Representative nor the Second Priority Representative
shall have any responsibility to monitor or verify the financial condition of the Borrower or
other Loan Parties.

     9.5 Governing Law. This Agreement shall be construed in accordance with and
governed by
the law of the State of New York, except as otherwise required by mandatory provisions of law
and except to the extent that remedies provided by the laws of any jurisdiction other than the
State of New York are governed by the laws of such jurisdiction.

     9.6 Submission to Jurisdiction. (a) Each First Priority Secured Party, each
Second Priority
Secured Party and each Loan Party hereby irrevocably and unconditionally submits, for itself and
its property, to the nonexclusive jurisdiction of the courts of the State of New York 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 for
recognition or enforcement of any judgment with respect to this Agreement, and each such party
hereby irrevocably and unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such New York State or, to the extent permitted by law,
in such Federal court. Each such party agrees that a final judgment in any such action or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by law. Nothing in this Agreement shall affect any right that any
First Priority Secured Party or Second Priority Secured Party may otherwise

 

 

have to bring any action or proceeding against any Loan Party or its properties in the
courts of any jurisdiction.

     (b) Each First Priority Secured Party, each Second Priority Secured Party and each Loan Party
hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively
do so (i) any objection it may now or hereafter have to the laying of venue of any suit, action or
proceeding arising out of or relating to this Agreement in any court referred to in the first
sentence of paragraph (a) of this Section and (ii) the defense of an inconvenient forum to the
maintenance of such action or proceeding.

     (c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 9.7. Nothing in this Agreement will affect the right of any
party to this Agreement to serve process in any other manner permitted by law.

     9.7 Notices. Unless otherwise specifically provided herein, any
notice or other
communication herein required or permitted to be given shall be in writing and shall be delivered
by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile.
All such notices and other communications (i) sent by hand or overnight courier service, or mailed
by certified or registered mail, shall be deemed to have been given when received or (ii) sent by
facsimile shall be deemed to have been given when sent, provided 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. For the purposes hereof, the
addresses of the parties hereto (until notice of a change thereof is delivered as provided in this
Section) shall be as set forth below each party’s name on the signature pages hereof, or, as to
each party, at such other address as may be designated by such party in a written notice to all of
the other parties.

     9.8 Successors and Assigns. This Agreement shall be binding upon
and inure to the benefit

of each of the parties hereto and each of the First Priority Secured Parties and Second Priority
Secured Parties and their respective successors and permitted assigns, and nothing herein is
intended, or shall be construed to give, any other Person any right, remedy or claim under, to or
in respect of this Agreement or any Common Collateral.

     9.9 Headings. Section headings used herein are for convenience of
reference only, are not
part of this Agreement and shall not affect the construction of, or be taken into
consideration in interpreting, this Agreement.

     9.10 Severability. Any provision of this Agreement held to be
invalid, illegal or

unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent
of such invalidity, illegality or unenforceability without affecting the validity, legality and
enforceability of the remaining provisions hereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

     9.11 Counterparts; Integration; Effectiveness. This Agreement may
be executed in
counterparts (and by different parties hereto on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.
Delivery of an executed counterpart of a signature page of this Agreement by email or telecopy
shall be effective as delivery of a manually executed counterpart of this Agreement. This
Agreement shall become effective when it shall have been executed by each party hereto.

     9.12 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY AND
UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL

 

 

ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM
THEREIN.

     9.13 Additional Loan Parties. Each Person that becomes a Loan
Party after the date hereof
shall become a party to this Agreement upon execution and delivery by such Person of an
Assumption Agreement in the form of Annex 1 to the Guarantee and Collateral Agreement referred
to in the First Priority Agreement.

     9.14 Concerning the Second Priority Representative. Each of the parties
hereto acknowledges that Wells Fargo Bank, National Association is entering into this Agreement
upon direction of the Second Priority Creditors and solely in its capacity as Collateral Agent
under the Collateral Documents (as defined in the Existing Second Priority Agreement) and not in
its individual capacity and in no event shall Wells Fargo Bank, National Association incur any
liability in connection with this Agreement or be personally liable for or on account of the
statements, representations, warranties, covenants or obligations stated to be those of the Second
Priority Representative or the Second Priority Secured Parties hereunder (including action taken on
its behalf pursuant to Section 4.2(b)), all such liability, if any, being expressly waived by the
parties hereto and any Person claiming by, though or under such party. Each party hereto hereby
acknowledges and agrees that all of the rights, privileges, protections, indemnities and immunities
afforded Wells Fargo Bank, National Association as Collateral Agent under the Existing Second
Priority Agreement and the Collateral Documents (as defined therein) are hereby incorporated herein
as if set forth herein in full. Notwithstanding anything to the contrary herein, the fees, expenses
and indemnities owing to Wells Fargo Bank, National Association, as Collateral Agent, by any Loan
Party, shall not be subordinated to any First Priority Obligation.

[Remainder of page intentionally left blank]

 

 

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

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as First Priority
Representative
for and on behalf of the First Priority Secured Parties
 	 
	 
	 	By:  	/s/ Eric H. Pratt
 	 
	 	Name:  Eric H. Pratt 	 
	 	Title:      Vice President 
	 
	 	Address for Notices:

 	 
	 	 	 
	 	1111 Fannin,
10th Floor

Houston, TX 77002

ATTN: Thai Pham

Telephone: (713) 750-2884

Telecopy: (713) 750-2596

 	 

Intercreditor Agreement Signature Page

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, National Association, as Second
 Priority Representative for and on behalf of
the Second Priority
 Secured Parties
 	 
	 
	 	By:  	/s/ STEFAN VICTORY
 	 
	 	Name:  STEFAN VICTORY 	 
	 	Title:  VICE PRESIDENT 	 
	 
	 	Address for Notices:

 	 
	 	 	 
	 	7000 Central Parkway NE, Suite 550 
Atlanta, GA 30328

ATTN: Stefan Victory

Telephone: (770) 551-5117

Telecopy: (770) 551-5118

 	 
	 	 	 
	 	 	 
	 	 	 
	 

Intercreditor Agreement

 

 

	 	 	 	 	 
	 	ROADHOUSE FINANCING INC.

 	 
	 	By:  	/s/
Stanley de J. Osborne
 	 
	 	 	Name:  	Stanley de J. Osborne  	 
	 	 	Title:  	President 	 
	 
	 	ROADHOUSE MERGER INC.

 	 
	 	By:  	/s/ Stanley de J. Osborne
 	 
	 	 	Name:  	Stanley de J. Osborne  	 
	 	 	Title:  	President 	 
	 

Intercreditor Agreement Signature Page

 

 

EXECUTION VERSION

JOINDER

TO INTERCREDITOR AGREEMENT

     THIS JOINDER AGREEMENT (this “Agreement”), dated as of October 4, 2010, is made by LRI
Holdings, Inc., a Delaware corporation, Logan’s Roadhouse, Inc., a Tennessee corporation, Logan’s
Roadhouse of Texas, Inc., a Texas corporation, and Logan’s Roadhouse of Kansas, Inc., a Kansas
corporation (each, a “New Loan Party” and together, the “New Loan Parties”) in
favor of JPMORGAN CHASE BANK, N.A. (“First Priority Representative”) and WELLS FARGO BANK,
NATIONAL ASSOCIATION (“Second Priority Representative”), in their capacities as First
Priority Representative and Second Priority Representative, respectively, under that certain
Intercreditor Agreement (the “Intercreditor Agreement”), dated as of October 4, 2010 among
the First Priority Representative, the Second Priority Representative, Roadhouse Merger Inc., a
Delaware corporation (“Holdings”), Roadhouse Financing Inc., a Delaware corporation (the
“Borrower”) and each of the other Loan Parties party thereto. All capitalized terms used
herein and not otherwise defined shall have the meanings set forth in the Intercreditor Agreement.

W I T N E S S E T H

     WHEREAS, pursuant to the Agreement and Plan of Merger, dated as of August 27, 2010, Roadhouse
Merger Inc. acquired LRI Holdings, Inc. through a merger transaction, with LRI Holdings, Inc. as
the surviving corporation (the “Acquisition Merger”) and immediately upon the consummation
of the Acquisition Merger, Roadhouse Financing Inc. merged with and into Logan’s Roadhouse, Inc.,
with Logan’s Roadhouse, Inc. as the surviving corporation (the “Finance Merger”, and
together with the Acquisition Merger, the “Merger”);

     WHEREAS, in connection with the Merger, Logan’s Roadhouse, Inc. has assumed by operation of
law all rights and obligations of Roadhouse Financing Inc. under the Credit Agreement, LRI
Holdings, Inc. has assumed by operation of law all rights and obligations of Roadhouse Merger Inc.
under the Credit Agreement, and each of Logan’s Roadhouse of Texas, Inc., a Texas corporation and
Logan’s Roadhouse of Kansas, Inc., a Kansas corporation has agreed to unconditionally guarantee all
of the Borrower’s Obligations under the Credit Agreement and the Guarantee and Collateral Agreement
on the terms and conditions set forth herein; and

     NOW, THEREFORE, in consideration of the premises and other good and valuable consideration,
the receipt of which is hereby acknowledged, each of the New Loan Parties, for the benefit of the
First Priority Representative and the Second Priority Representative, hereby agrees as follows:

     1. Each of the New Loan Parties hereby acknowledges the Intercreditor Agreement and
acknowledges, agrees and confirms that, by its execution and delivery of this Agreement, each New
Loan Party will be deemed to be a Loan Party under the Intercreditor Agreement and shall have all
of the obligations of a Loan Party thereunder as if it had executed and delivered the Intercreditor
Agreement. Each New Loan Party hereby ratifies, as of the date hereof, and agrees to be bound by,
all of the terms, provisions and conditions contained in the Intercreditor Agreement applicable to
a Loan Party.

     2. The address of the New Loan Parties for purposes of Section 9.7 of the Intercreditor
Agreement is as follows:

 

 

 2

	 	 	 

	LRI Holdings, Inc.;

	 	3011 Armory Drive, Ste. 301
	Logan’s Roadhouse, Inc.;

	 	Nashville, TN 37204
	Logan’s Roadhouse of Texas, Inc.; and

	 	Attention: Amy Bertauski, Chief Financial Officer
	Logan’s Roadhouse of Kansas, Inc.:

	 	Email: amyb@logansroadhouse.com
	 

	 	Telecopy: (615) 885-9057
	 

	 	Telephone: (645) 885-9056
	 
	 	 
	with a copy to

	 	Kelso & Company, L.P.
	 

	 	320 Park Avenue, 24th Floor
	 

	 	New York, NY 10022
	 

	 	Attention: James Connors
	 

	 	Email: jconnors@kelso.com
	 

	 	Telecopy: (212) 223-2379
	 

	 	Telephone: (212) 751-3939

     3. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE NEW LOAN PARTIES HEREUNDER SHALL
BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

     4. This Agreement may be executed in counterparts, each of which shall be an original, but all
of such counterparts shall constitute one and the same instrument. Delivery of an executed
signature page of this Agreement via facsimile or email shall constitute an original for purposes
hereof.

[Remainder of page intentionally left blank]

 

 

     IN WITNESS WHEREOF, each New Loan Party has caused this Agreement to be duly executed by its
authorized officer, as of the day and year first above written.

	 	 	 	 	 
	 	LRI HOLDINGS, INC.

 	 
	 	By:  	/s/ George T. Vogel 	 
	 	 	Name:  	George T. Vogel 	 
	 	 	Title:  	President & CEO 	 
	 
	 	LOGAN’S ROADHOUSE, INC.

 	 
	 	By:  	/s/ Amy Bertauski 	 
	 	 	Name:  	Amy Bertauski 	 
	 	 	Title:  	CFO 	 
	 
	 	LOGAN’S ROADHOUSE OF TEXAS, INC.

 	 
	 	By:  	/s/ Amy Bertauski 	 
	 	 	Name:  	Amy Bertauski 	 
	 	 	Title:  	Asst. Treasurer 	 
	 
	 	LOGAN’S ROADHOUSE OF KANSAS, INC.

 	 
	 	By:  	/s/ Robert Effner 	 
	 	 	Name:  	Robert Effner 	 
	 	 	Title:  	Secretary 	 
	 

Joinder
to Intercreditor Agreement Signature Pageexv4w5

Exhibit 4.5

EXECUTION VERSION

 

SENIOR SECURED NOTES INDENTURE

Dated as of October 4, 2010

Among

ROADHOUSE FINANCING INC.

(TO BE MERGED WITH AND INTO LOGAN’S ROADHOUSE, INC.)

ROADHOUSE MERGER INC.

(TO BE MERGED WITH AND INTO LRI HOLDINGS, INC.)

and

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Collateral Agent

10.75% SENIOR SECURED NOTES DUE 2017

 

 

 

CROSS-REFERENCE TABLE*

	 	 	 
	Trust Indenture Act Section	 	Indenture Section
	310(a)(1)
	 	7.10 
	(a)(2)
	 	7.10 
	(a)(3)
	 	N.A. 
	(a)(4)
	 	N.A. 
	(a)(5)
	 	7.10 
	(b)
	 	7.10 
	(c)
	 	N.A. 
	311(a)
	 	7.11 
	(b)
	 	7.11 
	(c)
	 	N.A. 
	312(a)
	 	2.05 
	(b)
	 	13.03 
	(c)
	 	13.03 
	313(a)
	 	7.06 
	(b)(1)
	 	N.A. 
	(b)(2)
	 	7.06;7.07 
	(c)
	 	7.06;13.02 
	(d)
	 	7.06 
	314(a)
	 	4.04;13.02; 13.05 
	(b)
	 	10.06(c) 
	(c)(1)
	 	13.04 
	(c)(2)
	 	13.04 
	(c)(3)
	 	N.A. 
	(d)
	 	10.06(c) 
	(e)
	 	13.05 
	(f)
	 	N.A. 
	315(a)
	 	7.01 
	(b)
	 	7.05;13.02 
	(c)
	 	7.01 
	(d)
	 	7.01 
	(e)
	 	6.14 
	316(a)(last sentence)
	 	2.09 
	(a)(1)(A)
	 	6.05 
	(a)(1)(B)
	 	6.04 
	(a)(2)
	 	N.A. 
	(b)
	 	6.07 
	(c)
	 	1.05(e);9.04 
	317(a)(1)
	 	6.08 
	(a)(2)
	 	6.12 
	(b)
	 	2.04 
	318(a)
	 	13.01 
	(b)
	 	N.A. 
	(c)
	 	13.01 

 

N.A. means not applicable.

 

			
	*	 	This Cross-Reference Table is not part of the Indenture. This Indenture is not qualified under
the Trust Indenture Act and is not intended to incorporate any of the terms thereof, except as
expressly provided.

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE
	 	 	1	 
	 
	 	 	 	 
	Section 1.01 Definitions
	 	 	1	 
	Section 1.02 Other Definitions
	 	 	33	 
	Section 1.03 Rules of Construction
	 	 	35	 
	Section 1.04 Incorporation by Reference of Trust Indenture Act
	 	 	35	 
	Section 1.05 Acts of Holders
	 	 	36	 
	 
	 	 	 	 
	ARTICLE 2 THE NOTES
	 	 	38	 
	 
	 	 	 	 
	Section 2.01 Form and Dating; Terms
	 	 	38	 
	Section 2.02 Execution and Authentication
	 	 	39	 
	Section 2.03 Registrar and Paying Agent
	 	 	39	 
	Section 2.04 Paying Agent to Hold Money in Trust
	 	 	39	 
	Section 2.05 Holder Lists
	 	 	40	 
	Section 2.06 Transfer and Exchange
	 	 	40	 
	Section 2.07 Replacement Notes
	 	 	41	 
	Section 2.08 Outstanding Notes
	 	 	41	 
	Section 2.09 Treasury Notes
	 	 	42	 
	Section 2.10 Temporary Notes
	 	 	42	 
	Section 2.11 Cancellation
	 	 	42	 
	Section 2.12 Defaulted Interest
	 	 	42	 
	Section 2.13 CUSIP and ISIN Numbers
	 	 	43	 
	 
	 	 	 	 
	ARTICLE 3 REDEMPTION
	 	 	43	 
	 
	 	 	 	 
	Section 3.01 Notices to Trustee
	 	 	43	 
	Section 3.02 Selection of Notes to Be Redeemed or Purchased
	 	 	44	 
	Section 3.03 Notice of Redemption
	 	 	44	 
	Section 3.04 Effect of Notice of Redemption
	 	 	45	 
	Section 3.05 Deposit of Redemption or Purchase Price
	 	 	45	 
	Section 3.06 Notes Redeemed or Purchased in Part
	 	 	46	 
	Section 3.07 Optional Redemption
	 	 	46	 
	Section 3.08 Mandatory Redemption
	 	 	47	 
	Section 3.09 Offers to Repurchase by Application of Excess Proceeds
	 	 	47	 
	 
	 	 	 	 
	ARTICLE 4 COVENANTS
	 	 	50	 
	 
	 	 	 	 
	Section 4.01 Payment of Notes
	 	 	50	 
	Section 4.02 Maintenance of Office or Agency
	 	 	50	 
	Section 4.03 Reports and Other Information
	 	 	50	 
	Section 4.04 Compliance Certificate
	 	 	52	 
	Section 4.05 [Intentionally Omitted]
	 	 	52	 
	Section 4.06 Stay, Extension and Usury Laws
	 	 	52	 
	Section 4.07 Limitation on Restricted Payments
	 	 	52	 

-i-

 

	 	 	 	 	 
	 	 	Page	 
	Section 4.08 Limitation on Restrictions on Distribution From Restricted
Subsidiaries
	 	 	59	 
	Section 4.09 Limitation on Indebtedness
	 	 	61	 
	Section 4.10 Limitation on Sales of Assets and Subsidiary Stock
	 	 	65	 
	Section 4.11 Transactions with Affiliates
	 	 	69	 
	Section 4.12 Limitation on Liens; Negative Pledge
	 	 	71	 
	Section 4.13 [Intentionally Omitted]
	 	 	72	 
	Section 4.14 Offer to Repurchase Upon Change of Control
	 	 	72	 
	Section 4.15 Additional Guarantees
	 	 	73	 
	Section 4.16 Limitation on Lines of Business
	 	 	74	 
	Section 4.17 Limitation on Activities of Holdings
	 	 	74	 
	Section 4.18 Limitation on Sale/Leaseback Transactions
	 	 	75	 
	Section 4.19 Effectiveness of Covenants
	 	 	75	 
	 
	 	 	 	 
	ARTICLE 5 SUCCESSORS
	 	 	76	 
	 
	 	 	 	 
	Section 5.01 Merger, Consolidation or Sale of All or Substantially All
Assets
	 	 	76	 
	Section 5.02 Successor Entity Substituted
	 	 	79	 
	 
	 	 	 	 
	ARTICLE 6 DEFAULTS AND REMEDIES
	 	 	80	 
	 
	 	 	 	 
	Section 6.01 Events of Default
	 	 	80	 
	Section 6.02 Acceleration
	 	 	82	 
	Section 6.03 Other Remedies
	 	 	83	 
	Section 6.04 Waiver of Past Defaults
	 	 	83	 
	Section 6.05 Control by Majority
	 	 	83	 
	Section 6.06 Limitation on Suits
	 	 	83	 
	Section 6.07 Rights of Holders to Receive Payment
	 	 	84	 
	Section 6.08 Collection Suit by Trustee
	 	 	84	 
	Section 6.09 Restoration of Rights and Remedies
	 	 	84	 
	Section 6.10 Rights and Remedies Cumulative
	 	 	85	 
	Section 6.11 Delay or Omission Not Waiver
	 	 	85	 
	Section 6.12 Trustee May File Proofs of Claim
	 	 	85	 
	Section 6.13 Priorities
	 	 	85	 
	Section 6.14 Undertaking for Costs
	 	 	86	 
	 
	 	 	 	 
	ARTICLE 7 TRUSTEE
	 	 	86	 
	 
	 	 	 	 
	Section 7.01 Duties of Trustee
	 	 	86	 
	Section 7.02 Rights of Trustee
	 	 	87	 
	Section 7.03 Individual Rights
	 	 	88	 
	Section 7.04 Disclaimer
	 	 	89	 
	Section 7.05 Notice of Defaults
	 	 	89	 
	Section 7.06 Reports by Trustee to Holders of the Notes
	 	 	89	 
	Section 7.07 Compensation and Indemnity
	 	 	89	 
	Section 7.08 Replacement of Trustee or the Collateral Agent
	 	 	90	 
	Section 7.09 Successor by Merger, etc.
	 	 	91	 
	Section 7.10 Eligibility; Disqualification
	 	 	91	 
	Section 7.11 Preferential Collection of Claims Against the Issuer
	 	 	92	 

-ii-

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 8 LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	 	 	92	 
	 
	 	 	 	 
	Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	92	 
	Section 8.02 Legal Defeasance and Discharge
	 	 	92	 
	Section 8.03 Covenant Defeasance
	 	 	93	 
	Section 8.04 Conditions to Legal or Covenant Defeasance
	 	 	93	 
	Section 8.05 Deposited Money and U.S. Government Obligations to Be Held in
Trust; Other Miscellaneous Provisions
	 	 	95	 
	Section 8.06 Repayment to the Issuer
	 	 	95	 
	Section 8.07 Reinstatement
	 	 	95	 
	 
	 	 	 	 
	ARTICLE 9 AMENDMENT, SUPPLEMENT AND WAIVER
	 	 	96	 
	 
	 	 	 	 
	Section 9.01 Without Consent of Holders
	 	 	96	 
	Section 9.02 With Consent of Holders
	 	 	98	 
	Section 9.03 Compliance with Trust Indenture Act
	 	 	100	 
	Section 9.04 Revocation and Effect of Consents
	 	 	100	 
	Section 9.05 Notation on or Exchange of Notes
	 	 	100	 
	Section 9.06 Trustee and Collateral Agent to Sign Amendments, etc.
	 	 	100	 
	Section 9.07 Payments for Consent
	 	 	100	 
	 
	 	 	 	 
	ARTICLE 10 COLLATERAL AND SECURITY
	 	 	101	 
	 
	 	 	 	 
	Section 10.01 The Collateral
	 	 	101	 
	Section 10.02 Further Assurances
	 	 	101	 
	Section 10.03 After-Acquired Property
	 	 	102	 
	Section 10.04 Impairment of Security Interest
	 	 	102	 
	Section 10.05 Real Estate Mortgages and Filings
	 	 	103	 
	Section 10.06 Release of Liens on the Collateral
	 	 	104	 
	Section 10.08 Rule 3-16 of Regulation S-X
	 	 	107	 
	Section 10.09 Control Agreements
	 	 	107	 
	Section 10.10 Information Regarding Collateral
	 	 	107	 
	Section 10.11 Maintenance of Collateral
	 	 	108	 
	Section 10.12 Intercreditor Agreements
	 	 	108	 
	 
	 	 	 	 
	ARTICLE 11 GUARANTEES
	 	 	108	 
	 
	 	 	 	 
	Section 11.01 Guarantee
	 	 	108	 
	Section 11.02 Limitation on Guarantor Liability
	 	 	109	 
	Section 11.03 Execution and Delivery
	 	 	110	 
	Section 11.04 Subrogation
	 	 	110	 
	Section 11.05 Benefits Acknowledged
	 	 	110	 
	Section 11.06 Release of Guarantees
	 	 	111	 
	 
	 	 	 	 
	ARTICLE 12 SATISFACTION AND DISCHARGE
	 	 	112	 
	 
	 	 	 	 
	Section 12.01 Satisfaction and Discharge
	 	 	112	 
	Section 12.02 Application of Trust Money
	 	 	113	 

-iii-

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 13 MISCELLANEOUS
	 	 	113	 
	 
	 	 	 	 
	Section 13.01 Trust Indenture Act Controls
	 	 	113	 
	Section 13.02 Notices
	 	 	113	 
	Section 13.03 Communication by Holders with Other Holders
	 	 	115	 
	Section 13.04 Certificate and Opinion as to Conditions Precedent
	 	 	115	 
	Section 13.05 Statements Required in Certificate or Opinion
	 	 	116	 
	Section 13.06 Rules by Trustee and Agents
	 	 	116	 
	Section 13.07 No Personal Liability of Directors, Officers, Employees,
Members, Partners and Stockholders
	 	 	116	 
	Section 13.08 Governing Law
	 	 	116	 
	Section 13.09 Waiver of Jury Trial
	 	 	116	 
	Section 13.10 Force Majeure
	 	 	117	 
	Section 13.11 No Adverse Interpretation of Other Agreements
	 	 	117	 
	Section 13.12 Successors
	 	 	117	 
	Section 13.13 Severability
	 	 	117	 
	Section 13.14 Counterpart Originals
	 	 	117	 
	Section 13.15 Table of Contents, Headings, etc.
	 	 	117	 
	Section 13.16 U.S.A. PATRIOT Act
	 	 	118	 
	Section 13.17 Payments Due on Non-Business Days
	 	 	118	 
	Section 13.18 Qualification of Indenture
	 	 	118	 
	Section 13.19 Consent to Jurisdiction
	 	 	118	 

	 	 	 

	Schedule 1

	 	Mortgaged Properties
	 
	 	 
	Appendix A

	 	Provisions Relating to Initial Notes, Exchange Notes and Additional Notes
	 
	 	 
	Exhibit A

	 	Form of Note
	Exhibit B

	 	Form of Institutional Accredited Investor Transferee Letter of Representation
	Exhibit C

	 	Form of Supplemental Indenture to Be Delivered by Subsequent Guarantors
	Exhibit D

	 	Form of Supplemental Indenture for Merger to be delivered by Logan’s Roadhouse, Inc., LRI Holdings, Inc. and the
Subsidiary Guarantors on the Issue Date

-iv-

 

          INDENTURE, dated as of October 4, 2010, among Roadhouse Financing Inc., a Delaware corporation
(“Finance Co”), Roadhouse Merger Inc., a Delaware corporation (“Merger Co”), Wells
Fargo Bank, National Association, a national banking association, as trustee (“Trustee”),
and Wells Fargo Bank, National Association, a national banking association, as collateral agent
(“Collateral Agent”).

W
I  T  N E  S  S  E
 T  H

          WHEREAS, the Issuer has duly authorized the creation of and issue of $355,000,000 aggregate
principal amount of 10.75% Senior Secured Notes due 2017 (the “Initial Notes”); and

          WHEREAS, the Issuer and Merger Co have duly authorized the execution and delivery of this
Indenture.

          NOW, THEREFORE, the Issuer, Merger Co, the Trustee and the Collateral Agent agree as follows
for the benefit of each other and for the equal and ratable benefit of the Holders of the Notes.

ARTICLE 1

DEFINITIONS AND INCORPORATION BY REFERENCE

          Section 1.01 Definitions.

          “Account Control Agreements” means each Deposit Account Control Agreement, Securities
Account Control Agreement and Commodity Account Control Agreement (each as defined in the Security
Agreement).

          “Acquired Indebtedness” means, with respect to any specified Person, Indebtedness (a)
of any Person or any of its Subsidiaries existing at the time such Person becomes a Restricted
Subsidiary or (b) assumed in connection with the acquisition of assets from such Person, in each
case whether or not Incurred by such Person in connection with, or in anticipation or contemplation
of, such Person becoming a Restricted Subsidiary or such acquisition, and Indebtedness secured by a
Lien encumbering any asset acquired by such specified Person. Acquired Indebtedness shall be deemed
to have been Incurred, with respect to clause (a) of the preceding sentence, on the date such
Person becomes a Restricted Subsidiary and, with respect to clause (b) of the preceding sentence,
on the date of consummation of such acquisition of assets.

          “Additional Assets” means:

     (1) any property, plant, equipment or other asset (excluding working capital or current
assets for the avoidance of doubt) to be used by the Issuer or a Restricted Subsidiary in a
Similar Business;

     (2) the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of
the acquisition of such Capital Stock by the Issuer or a Restricted Subsidiary; or

     (3) Capital Stock constituting a minority interest in any Person that at such time is a
Restricted Subsidiary;

-1-

 

provided, however, that, in the case of clauses (2) and (3), such Restricted Subsidiary is
primarily engaged in a Similar Business.

          “Additional Interest” means the interest payable as a consequence of the failure to
effectuate in a timely manner the exchange offer and/or shelf registration procedures set forth in
the Registration Rights Agreement.

          “Additional Notes” means additional Notes (other than the Original Notes) issued from
time to time under this Indenture in accordance with Sections 2.01 and 4.09 (other than Notes
issued or authenticated upon transfer, replacement or exchange of such Notes).

          “Administrative Agent” means JPMorgan Chase Bank, N.A., as administrative agent under
the Credit Agreement.

          “Affiliate” of any specified Person means any other Person, directly or indirectly,
controlling or controlled by or under direct or indirect common control with such specified Person.
For the purposes of this definition, “control” (including, with correlative meanings, the terms
“controlling,” “controlled by” and “under common control with”) when used with respect to any
Person means possession, directly or indirectly, of the power to direct the management and policies
of such Person, directly or indirectly, whether through the ownership of voting securities, by
contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to
the foregoing.

          “Agent” means any Registrar or Paying Agent.

          “Applicable Premium” means, with respect to a Note on any date of redemption, the
greater of:

          (1) 1.0% of the principal amount of such Note; and

          (2) the excess, if any, of (a) the present value as of such date of redemption of (i) the
redemption price of such Note on October 15, 2013 (each such redemption price being set forth in
Section 3.07) plus (ii) all required interest payments due on such Note through October 15, 2013
(excluding accrued but unpaid interest to the date of redemption), computed using a discount rate
equal to the Treasury Rate as of such date of redemption plus 50 basis points, over (b) the
then-outstanding principal of such Note.

          “Asset Sale” means any direct or indirect sale, lease (other than an operating lease
entered into in the ordinary course of business), transfer, issuance or other disposition, or a
series of related sales, leases, transfers, issuances or dispositions that are part of a common
plan, of shares of Capital Stock of a Subsidiary (other than directors’ qualifying shares),
property or other assets (each referred to for the purposes of this definition as a “disposition”)
by the Issuer or any of its Restricted Subsidiaries, including any disposition by means of a
merger, consolidation or similar transaction.

Notwithstanding the preceding, the following items shall not be deemed to be Asset Sales:

(1) a disposition of assets by a Restricted Subsidiary to the Issuer or by the Issuer or a
Restricted Subsidiary to a Guarantor or by a Non-Guarantor Subsidiary to the Issuer or a
Restricted Subsidiary; provided that in the case of a sale of Collateral, the transferee shall
cause such amendments, supplements or other instruments to be executed, filed and recorded in
such jurisdictions as may be

-2-

 

required by applicable law to preserve and protect the Lien on the Collateral owned by or
transferred to the transferee, together with such financing statements or comparable documents
as may be required to perfect any security interests in such Collateral which may be perfected
by the filing of a financing statement or a similar document under the Uniform Commercial Code
or other similar statute or regulation of the relevant states or jurisdictions;

(2) the sale of Cash Equivalents in the ordinary course of business;

(3) a disposition of inventory or other damaged, obsolete or worn-out assets in the ordinary
course of business;

(4) a disposition of obsolete or worn out equipment or equipment that is no longer useful in the
conduct of the business of the Issuer and its Restricted Subsidiaries and that is disposed of in
each case in the ordinary course of business;

(5) the disposition of all or substantially all of the assets of the Issuer in a manner
permitted pursuant to Section 5.01 or any disposition that constitutes a Change of Control;

(6) an issuance of Capital Stock by a Restricted Subsidiary to the Issuer or to a Wholly Owned
Subsidiary;

(7) for purposes of Section 4.10 only, the making of a Permitted Investment (other than a
Permitted Investment to the extent such transaction results in the receipt of cash or Cash
Equivalents by the Issuer or its Restricted Subsidiaries) or a disposition subject to Section
4.07;

(8) dispositions of assets in a single transaction or series of related transactions with an
aggregate fair market value in any calendar year of less than $5.0 million, with unused amounts
in any calendar year being carried over to the immediately succeeding year;

(9) the creation of a Permitted Lien and dispositions in connection with Permitted Liens;

(10) dispositions of receivables in connection with the compromise, settlement or collection
thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive
of factoring or similar arrangements;

(11) the issuance by a Restricted Subsidiary of Preferred Stock that is permitted under Section
4.09;

(12) the licensing or sublicensing of intellectual property or other general intangibles and
licenses, leases or subleases of other property in the ordinary course of business which do not
materially interfere with the business of the Issuer and its Restricted Subsidiaries;

(13) foreclosure or any similar action with respect to assets;

(14) any lease, sale, transfer or other disposition by the Issuer or any of the Restricted
Subsidiaries of a restaurant of the Issuer or such Restricted Subsidiary so long as (i) such
restaurant was acquired by the Issuer or such Restricted Subsidiary from a franchisee with the
intent of reselling such restaurant (which intent is documented at the time of such acquisition)
and (ii) such disposition occurs within twelve (12) months of the acquisition of such restaurant
by the Issuer or such Restricted Subsidiary;

-3-

 

(15) any concurrent exchange or swap of assets, with an aggregate fair market value not to
exceed $5.0 million in any calendar year, in exchange for goods and/or services (including in
connection with any outsourcing arrangements) of comparable or greater value and useful to the
business of the Issuer and the Restricted Subsidiaries as a whole, as determined in good faith
by the Issuer;

(16) any licensing or sub-licensing of intellectual property in connection with any franchise
arrangements in the ordinary course of business or consistent with past practice; and

(17) any sale of Capital Stock in, or Indebtedness or other securities of, an Unrestricted
Subsidiary.

          “Attributable Indebtedness” in respect of a Sale/Leaseback Transaction means, as at
the time of determination, the present value (discounted at the interest rate implicit in the
transaction) of the total obligations of the lessee for rental payments during the remaining term
of the lease included in such Sale/Leaseback Transaction (including any period for which such lease
has been extended), determined in accordance with GAAP; provided, however, that (i) if such
Sale/Leaseback Transaction results in a Capitalized Lease Obligation, the amount of Indebtedness
represented thereby will be determined in accordance with the definition of “Capitalized Lease
Obligations” and (ii) obligations under lease arrangements entered into in connection with property
that is the subject of a Sale/Leaseback Transaction shall not be considered Attributable
Indebtedness to the extent such obligations would not appear as an obligation or liability on the
balance sheet of the Issuer for purposes of GAAP.

          “Average Life” means, as of the date of determination, with respect to any
Indebtedness or Preferred Stock, the quotient obtained by dividing (1) the sum of the products of
the numbers of years from the date of determination to the dates of each successive scheduled
principal payment of such Indebtedness or redemption or similar payment with respect to such
Preferred Stock multiplied by the amount of such payment by (2) the sum of all such payments.

          “Bank Lender” means the lenders or holders of Indebtedness under the Credit Agreement
or any replacement thereof.

          “Bankruptcy Law” means Title 11, United States Code or any similar federal or state
law for the relief of debtors.

          “beneficial ownership” has the meaning assigned to such term in Rule 13d-3 and Rule
13d-5 under the Exchange Act, and “beneficial owner” has a corresponding meaning.

          “Board of Directors” means:

          (1) with respect to a corporation, the Board of Directors of the corporation or (other than
for purposes of determining Change of Control) the executive committee of the Board of Directors;

          (2) with respect to a partnership, the Board of Directors or other like governing body, as
applicable, of the general partner of the partnership; and

          (3) with respect to any other Person, the board or committee of such Person serving a similar
function.

          “Business Day” means each day that is not a Saturday, Sunday or other day on which
banking institutions in New York, New York are authorized or required by law to close.

-4-

 

          “Capital Stock” of any Person means any and all shares, interests, rights to purchase,
warrants, options, participations or other equivalents of or interests in (however designated)
equity of such Person, including any Preferred Stock and limited liability or partnership interests
(whether general or limited), but excluding any debt securities convertible into such equity.

          “Capitalized Lease Obligations” means an obligation that is required to be classified
and accounted for as a capitalized lease for financial reporting purposes in accordance with GAAP,
and the amount of Indebtedness represented by such obligation will be the capitalized amount of
such obligation at the time any determination thereof is to be made as determined in accordance
with GAAP, and the Stated Maturity thereof will be the date of the last payment of rent or any
other amount due under such lease prior to the first date such lease may be terminated without
penalty.

          “Cash Equivalents” means:

          (1) U.S. dollars;

          (2) securities issued or directly and fully guaranteed or insured by the United States
Government or any agency or instrumentality of the United States (provided that the full faith and
credit of the United States is pledged in support thereof), having maturities of not more than one
year from the date of acquisition;

          (3) marketable general obligations issued by any state of the United States of America or any
political subdivision of any such state or any public instrumentality thereof maturing within one
year from the date of acquisition and, at the time of acquisition, having a credit rating of “A” or
better from either Standard & Poor’s Ratings Group, Inc. or Moody’s Investors Service, Inc.;

          (4) certificates of deposit, time deposits, eurodollar time deposits, overnight bank deposits
or bankers’ acceptances having maturities of not more than one year from the date of acquisition
thereof issued by any commercial bank the long-term debt of which is rated at the time of
acquisition thereof at least “A” or the equivalent thereof by Standard & Poor’s Ratings Group,
Inc., or “A” or the equivalent thereof by Moody’s Investors Service, Inc., and having combined
capital and surplus in excess of $500.0 million;

          (5) repurchase obligations with a term of not more than seven days for underlying securities
of the types described in clauses (2), (3) and (4) entered into with any bank meeting the
qualifications specified in clause (4) above;

          (6) commercial paper rated at the time of acquisition thereof at least “A-2” or the equivalent
thereof by Standard & Poor’s Ratings Group, Inc. or “P-2” or the equivalent thereof by Moody’s
Investors Service, Inc., or carrying an equivalent rating by a nationally recognized Rating Agency,
if both of the two named Rating Agencies cease publishing ratings of investments, and in any case
maturing within one year after the date of acquisition thereof; and

          (7) interests in any investment company or money market fund which invests 95% or more of its
assets in instruments of the type specified in clauses (1) through (6) above.

          “Change of Control” means:

-5-

 

          (1) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Exchange Act), other than one or more Permitted Holders or a direct or indirect parent entity,
becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act),
directly or indirectly, of a majority in the aggregate of the total voting power of the Voting
Stock of the Issuer or any of its direct or indirect parent entities, whether as a result of the
issuance of securities of the Issuer or any of its direct or indirect parent entities, any merger,
consolidation, liquidation or dissolution of the Issuer or any of its direct or indirect parent
entities, any direct or indirect transfer of securities by any Permitted Holder or otherwise; or

          (2) the Issuer merges or consolidates with or into, or sells or transfers (in one or a series
of related transactions) all or substantially all of the assets of the Issuer and its Restricted
Subsidiaries or Holdings taken as a whole to any “person” (as such term is used in Sections 13(d)
and 14(d) of the Exchange Act) other than transactions with a Permitted Holder; or

          (3) during any period of two consecutive years (during which period the Issuer has been a
party to this Indenture), individuals who at the beginning of such period were members of the Board
of Directors of the Issuer (together with any new members thereof whose election by such Board of
Directors or whose nomination for election by holders of Capital Stock of the Issuer was approved
by one or more Permitted Holders or by a vote of a majority of the members of such Board of
Directors then still in office who were either members thereof at the beginning of such period or
whose election or nomination for election was previously so approved) cease for any reason to
constitute a majority of such Board of Directors then in office; or

          (4) the Issuer ceases to be a Wholly-Owned Subsidiary of Holdings (except in a transaction
consummated in accordance with Section 5.01).

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

          “Collateral” means all property and assets, whether now owned or hereafter acquired,
in which Liens are, from time to time, purported to be granted to secure the Notes and the Note
Guarantees pursuant to the Collateral Documents.

          “Collateral Agent” means Wells Fargo Bank, National Association, acting in its
capacity as collateral agent under the Collateral Documents, or any successor thereto.

          “Collateral Documents” means the Security Agreement, the Trademark Security Agreement,
the Mortgages, other deeds of trust, deeds to secure debt, security agreements, pledge agreements,
agency agreements and other instruments and documents executed and delivered pursuant to this
Indenture or any of the foregoing (including, without limitation, the financing statements under
the Uniform Commercial Code of the relevant state), as the same may be amended, supplemented or
otherwise modified from time to time, including pursuant to a joinder agreement, and pursuant to
which Collateral is pledged, assigned or granted to or on behalf of the Collateral Agent for the
ratable benefit of the Holders and the Trustee or notice of such pledge, assignment or grant is
given.

          “Commodity Agreement” means any commodity futures contract, commodity option or other
similar agreement or arrangement entered into by the Issuer or any Restricted Subsidiary designed
to protect the Issuer or any of its Restricted Subsidiaries against fluctuations in the price of
commodities actually used in the ordinary course of business of the Issuer and its Restricted
Subsidiaries.

-6-

 

          “Common Stock” means with respect to any Person, any and all shares, interest or other
participations in, and other equivalents (however designated and whether voting or nonvoting) of
such Person’s common stock whether or not outstanding on the Issue Date, and includes, without
limitation, all series and classes of such common stock.

          “Consolidated Coverage Ratio” means as of any date of determination, with respect to
any Person, the ratio of (x) the aggregate amount of Consolidated EBITDA of such Person for the
period of the most recent four consecutive fiscal quarters ending prior to the date of such
determination for which financial statements prepared on a consolidated basis in accordance with
GAAP are available to (y) Consolidated Interest Expense for such four fiscal quarters, provided,
however, that:

          (1) if the Issuer or any Restricted Subsidiary:

          (a) has Incurred any Indebtedness since the beginning of such period that remains outstanding
on such date of determination or if the transaction giving rise to the need to calculate the
Consolidated Coverage Ratio includes an Incurrence of Indebtedness, Consolidated EBITDA and
Consolidated Interest Expense for such period will be calculated after giving effect on a pro forma
basis to such Indebtedness as if such Indebtedness had been Incurred on the first day of such
period (except that in making such computation, the amount of Indebtedness under any revolving Debt
Facility outstanding on the date of such calculation will be deemed to be (i) the average daily
balance of such Indebtedness during such four fiscal quarters or such shorter period for which such
facility was outstanding or (ii) if such facility was created after the end of such four fiscal
quarters, the average daily balance of such Indebtedness during the period from the date of
creation of such facility to the date of such calculation) and the discharge of any other
Indebtedness repaid, repurchased, redeemed, retired, defeased or otherwise discharged with the
proceeds of such new Indebtedness as if such discharge had occurred on the first day of such
period; or

          (b) has repaid, repurchased, redeemed, retired, defeased or otherwise discharged any
Indebtedness since the beginning of the period that is no longer outstanding on such date of
determination or if the transaction giving rise to the need to calculate the Consolidated Coverage
Ratio includes a discharge of Indebtedness (in each case, other than Indebtedness Incurred under
any revolving Debt Facility unless such Indebtedness has been permanently repaid and the related
commitment terminated and not replaced), Consolidated EBITDA and Consolidated Interest Expense for
such period will be calculated after giving effect on a pro forma basis to such discharge of such
Indebtedness, including with the proceeds of such new Indebtedness, as if such discharge had
occurred on the first day of such period;

          (2) if since the beginning of such period the Issuer or any Restricted Subsidiary will have
made any Asset Sale or disposed of or discontinued (as defined under GAAP) any company, division,
operating unit, segment, business, group of related assets or line of business or if the
transaction giving rise to the need to calculate the Consolidated Coverage Ratio includes such a
transaction:

     (a) the Consolidated EBITDA for such period will be reduced by an amount equal
to the Consolidated EBITDA (if positive) directly attributable to the assets that
are the subject of such disposition or discontinuation for such period or increased
by an amount equal to the Consolidated EBITDA (if negative) directly attributable
thereto for such period; and

     (b) Consolidated Interest Expense for such period will be reduced by an amount
equal to the Consolidated Interest Expense directly attributable to any Indebtedness
of the

-7-

 

Issuer or any Restricted Subsidiary repaid, repurchased, redeemed, retired,
defeased or otherwise discharged (to the extent the related commitment is
permanently reduced) with respect to the Issuer and its continuing Restricted
Subsidiaries in connection with such transaction for such period (or, if the Capital
Stock of any Restricted Subsidiary is sold, the Consolidated Interest Expense for
such period directly attributable to the Indebtedness of such Restricted Subsidiary
to the extent the Issuer and its continuing Restricted Subsidiaries are no longer
liable for such Indebtedness after such sale);

          (3) if since the beginning of such period the Issuer or any Restricted Subsidiary (by merger
or otherwise) will have made an Investment in any Restricted Subsidiary (or any Person that becomes
a Restricted Subsidiary or is merged with or into the Issuer or a Restricted Subsidiary) or an
acquisition of assets, including any acquisition of assets occurring in connection with a
transaction causing a calculation to be made hereunder, which constitutes all or substantially all
of a company, division, operating unit, segment, business, group of related assets or line of
business, Consolidated EBITDA and Consolidated Interest Expense for such period will be calculated
after giving pro forma effect thereto (including the Incurrence of any Indebtedness) as if such
Investment or acquisition occurred on the first day of such period; and

          (4) if since the beginning of such period any Person (that subsequently became a Restricted
Subsidiary or was merged with or into the Issuer or any Restricted Subsidiary since the beginning
of such period) will have Incurred any Indebtedness or discharged any Indebtedness, made any
disposition or any Investment or acquisition of assets that would have required an adjustment
pursuant to clauses (1), (2) or (3) above if made by the Issuer or a Restricted Subsidiary during
such period, Consolidated EBITDA and Consolidated Interest Expense for such period will be
calculated after giving pro forma effect thereto as if such transaction occurred on the first day
of such period.

For purposes of this definition, whenever pro forma effect is to be given to any calculation under
this definition, the pro forma calculations will be determined in good faith by a responsible
financial or accounting officer of the Issuer (including pro forma expense and cost reductions
calculated on a basis consistent with Regulation S-X under the Securities Act) and evidenced by an
Officers’ Certificate setting forth the basis of such calculations. If any Indebtedness bears a
floating rate of interest and is being given pro forma effect, the interest expense on such
Indebtedness will be calculated as if the rate in effect on the date of determination had been the
applicable rate for the entire period (taking into account any Interest Rate Agreement applicable
to such Indebtedness if such Interest Rate Agreement has a remaining term in excess of 12 months).
If any Indebtedness that is being given pro forma effect bears an interest rate at the option of
the Issuer, the interest rate shall be calculated by applying such optional rate chosen by the
Issuer.

          “Consolidated EBITDA” means, for any period, the sum of (all determined on a
consolidated basis for the Issuer and its Subsidiaries in accordance with GAAP for the most
recently completed period) (a) net income (or net loss), plus (b) without duplication and in each
case solely to the extent deducted in determining such net income (or net loss), the sum of (i)
Consolidated Interest Expense, (ii) income tax expense, (iii) depreciation and amortization
expense, (iv) extraordinary losses and charges, (v) non-recurring cash losses or charges up to
$500,000 in any fiscal year, (vi) Sponsor management fees in an amount not to exceed $1.0 million
per annum, (vii) non-cash stock based compensation expenses, (viii) other non-recurring, non-cash
charges including write-downs, write-offs, losses attributable to the early extinguishment of debt
or charges associated with restructurings, (ix) expenses (including termination payments) related
to Interest Rate Agreements, (x) Preopening Costs associated with new restaurant store openings,
not to exceed $300,000 in the aggregate per restaurant, (xi) impairment costs

-8-

 

and other charges related to restaurant store closings, (xii) expenses associated with the
Transaction, (xiii) expenses and adjustments related to purchase accounting and (xiv) non-cash rent
expense, non-recurring fees and expenses related to any Sale/Leaseback Transactions and reasonable
fees, expenses or charges during such period related to any Permitted Investment, Asset Sales,
Indebtedness permitted to be Incurred or Equity Offering (including any fees and expenses
(including legal fees and expenses) related to the filing of any Form S-1 registration statement of
the Issuer with the Securities and Exchange Commission) (in each case, whether or not completed),
minus, (c) without duplication and to the extent included in determining such net income (or net
loss), the sum of (i) any extraordinary or non-cash gains, (ii) any gains (or plus losses) realized
in connection with any disposition of property (other than any gains which represent the reversal
of a reserve accrued for the payment of cash charges in any future period and any gains from sales
of inventory in the ordinary course of business) and (iii) gains (including cash termination
payments received) relating to Interest Rate Agreements minus (d) the amount of all cash payments
made in such period to the extent that such payments relate to any reserve or similar non-cash
charge incurred in a previous period that was added back in determining Consolidated EBITDA
pursuant to the preceding subclause (b); provided that, Consolidated EBITDA for such period shall
not include the cumulative effect of a change in accounting principles during such period.

          Notwithstanding the foregoing, clauses (a) and (b) relating to amounts attributable to a
Restricted Subsidiary of a Person will be added to compute Consolidated EBITDA of such Person only
to the extent (and in the same proportion) that the net income (loss) of such Restricted Subsidiary
was included in calculating the Consolidated Net Income of such Person and, to the extent the
amounts set forth in clauses (a) and (b) are in excess of those necessary to offset a net loss of
such Restricted Subsidiary or if such Restricted Subsidiary has net income for such period included
in Consolidated Net Income, only if a corresponding amount would be permitted at the date of
determination to be dividended to the Issuer by such Restricted Subsidiary without prior approval
(that has not been obtained), pursuant to the terms of its charter and all agreements, instruments,
judgments, decrees, orders, statutes, rules and governmental regulations applicable to that
Restricted Subsidiary or its stockholders.

          “Consolidated Interest Expense” means, for any period, the total interest expense of
the Issuer and its consolidated Restricted Subsidiaries, whether paid or accrued, plus, to the
extent not included in such interest expense:

          (1) interest expense attributable to Capitalized Lease Obligations and the interest portion of
rent expense associated with Attributable Indebtedness in respect of the relevant lease giving rise
thereto, determined as if such lease were a capitalized lease in accordance with GAAP and the
interest component of any deferred payment obligations;

          (2) amortization of debt discount (including the amortization of original issue discount
resulting from the issuance of Indebtedness at less than par) and debt issuance cost; provided,
however, that any amortization of bond premium will be credited to reduce Consolidated Interest
Expense unless, pursuant to GAAP, such amortization of bond premium has otherwise reduced
Consolidated Interest Expense;

          (3) non-cash interest expense, but excluding any non-cash interest expense attributable to the
movement in the mark to market valuation of Hedging Obligations (or other derivative instruments
pursuant to GAAP);

          (4) commissions, discounts and other fees and charges owed with respect to letters of credit
and bankers’ acceptance financing;

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          (5) interest actually paid by the Issuer or any such Restricted Subsidiary under any Guarantee
of Indebtedness or other obligation of any other Person;

          (6) costs associated with Hedging Obligations (including amortization of fees) related to
Indebtedness provided, however, that if Hedging Obligations result in net benefits rather than
costs, such benefits shall be credited to reduce Consolidated Interest Expense unless, pursuant to
GAAP, such net benefits are otherwise reflected in Consolidated Net Income;

          (7) the interest expense of such Person and its Restricted Subsidiaries that was capitalized
during such period;

          (8) the product of (a) all dividends paid or payable, in cash, Cash Equivalents or
Indebtedness or accrued during such period on any series of Disqualified Stock of such Person or on
Preferred Stock of the Restricted Subsidiaries that are not Subsidiary Guarantors payable to a
party other than the Issuer or a Wholly Owned Subsidiary, times (b) a fraction, the numerator of
which is one and the denominator of which is one minus the then current combined federal, state,
provincial and local statutory tax rate of such Person, expressed as a decimal, in each case, on a
consolidated basis and in accordance with GAAP; and

          (9) the cash contributions to any employee stock ownership plan or similar trust to the extent
such contributions are used by such plan or trust to pay interest or fees to any Person (other than
the Issuer and its Restricted Subsidiaries) in connection with Indebtedness Incurred by such plan
or trust.

          For the purpose of calculating the Consolidated Coverage Ratio, the calculation of
Consolidated Interest Expense shall include all interest expense (including any amounts described
in clauses (1) through (9) above) relating to any Indebtedness of the Issuer or any Restricted
Subsidiary described in the final paragraph of the definition of “Indebtedness”.

          For purposes of the foregoing, total interest expense will be determined (i) after giving
effect to any net payments made or received by the Issuer and its Subsidiaries with respect to
Interest Rate Agreements and (ii) exclusive of amounts classified as other comprehensive income in
the balance sheet of the Issuer. Notwithstanding anything to the contrary contained herein,
commissions, discounts, yield and other fees and charges Incurred in connection with any
transaction pursuant to which the Issuer or its Restricted Subsidiaries may sell, convey or
otherwise transfer or grant a security interest in any accounts receivable or related assets shall
be included in Consolidated Interest Expense.

          “Consolidated Net Income” means, for any period, the net income (loss) of the Issuer
and its consolidated Restricted Subsidiaries determined on a consolidated basis in accordance with
GAAP; provided, however, that there will not be included in such Consolidated Net Income on an
after-tax basis:

          (1) any net income (loss) of any Person if such Person is not a Restricted Subsidiary or that
is accounted for by the equity method of accounting, except that:

          (a) the Issuer’s equity in the net income of any such Person for such period will be included
in such Consolidated Net Income up to the aggregate amount of cash actually distributed by such
Person during such period to the Issuer or a Restricted Subsidiary as a dividend or other
distribution (subject, in the case of a dividend or other distribution to a Restricted Subsidiary,
to the limitations contained in clause (2) below); and

-10-

 

          (b) the Issuer’s equity in a net loss of any such Person (other than an Unrestricted
Subsidiary) for such period will be included in determining such Consolidated Net Income to the
extent such loss has been funded with cash from the Issuer or a Restricted Subsidiary;

          (2) solely for the purpose of determining the amount available for Restricted Payments under
clause (C)(i) of Section 4.07(a), any net income (but not loss) of any Restricted Subsidiary (other
than a Subsidiary Guarantor) if such Subsidiary is subject to prior government approval or other
restrictions due to the operation of its charter or any agreement, instrument, judgment, decree,
order statute, rule or government regulation (which has not been waived), directly or indirectly,
on the payment of dividends or the making of distributions by such Restricted Subsidiary, directly
or indirectly, to the Issuer, except that:

          (a) subject to clauses (3) through (10) below, the Issuer’s equity in the net income of any
such Restricted Subsidiary for such period will be included in such Consolidated Net Income up to
the aggregate amount of cash that could have been distributed by such Restricted Subsidiary during
such period to the Issuer or another Restricted Subsidiary as a dividend (subject, in the case of a
dividend to another Restricted Subsidiary, to the limitation contained in this clause); and

          (b) the Issuer’s equity in a net loss of any such Restricted Subsidiary for such period will
be included in determining such Consolidated Net Income;

          (3) any gain or loss (less all fees and expenses relating thereto) realized upon sales or
other dispositions of any assets of the Issuer or such Restricted Subsidiary, other than in the
ordinary course of business, as determined in good faith by the Board of Directors of the Issuer;

          (4) any after-tax effect of income (loss) from the early extinguishment of Indebtedness or
Hedging Obligations or other derivative instruments;

          (5) any extraordinary gain or loss;

          (6) the cumulative effect of a change in accounting principles;

          (7) any non-cash compensation expense recorded from grants of stock appreciation or similar
rights, stock options, restricted stock or other rights to officers, directors or employees;

          (8) effects of adjustments (including the effects of such adjustments pushed down to the
Issuer and its Restricted Subsidiaries) in the property and equipment, software and other
intangible assets, deferred revenue and debt line items in such Person’s consolidated financial
statements pursuant to GAAP resulting from the application of purchase accounting in relation to
the Transaction or any consummated acquisition or the amortization or write-off of any amounts
thereof, net of taxes;

          (9) (i) the non-cash portion of “straight-line” rent expense shall be excluded, (ii) the cash
portion of “straight-line” rent expense which exceeds the amount expensed in respect of such rent
expense shall be included, (iii) the non-cash amortization of tenant allowances shall be excluded,
(iv) franchise development fees and cash received from landlords for tenant allowances shall be
included and (v) to the extent not already included in Net Income, the cash portion of sublease
rentals received shall be included (for the avoidance of doubt, the net effect of the adjustments
in this clause (10) shall be to compute rent expense and rental income on a cash basis for purposes
of determining Consolidated Net Income); and

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          (10) any net income (loss) included in the consolidated statement of operations due to the
application of Financial Accounting Standard No. 160 “Noncontrolling Interests in Consolidated
Financial Statements.”

Any cash amounts dividended, distributed, loaned or otherwise transferred to Holdings by the Issuer
or its Restricted Subsidiaries pursuant to Section 4.07(b)(10), without duplication of any amounts
otherwise deducted in calculating Consolidated Net Income, shall be deducted in calculating the
Consolidated Net Income of the Issuer and its Restricted Subsidiaries.

          “Consolidated Net Tangible Assets” means Consolidated Total Assets after deducting, to
the extent otherwise included therein, the amounts of (without duplication):

          (1) all current liabilities;

          (2) unamortized debt discount and expenses and other unamortized deferred charges, goodwill,
patents, trademarks, service marks, trade names, copyrights, licenses, organization or
developmental expenses and other intangible items; and

          (3) Investments in and assets of Unrestricted Subsidiaries.

          “Consolidated Total Assets” means as of any date of determination, the total amount of
assets which would appear on a consolidated balance sheet of the Issuer and its Restricted
Subsidiaries, as determined on a consolidated basis in accordance with GAAP.

          “Continuing Directors” means, as of any date of determination, any member of the Board
of Directors of the Issuer or Holdings, as the case may be, who: (1) was a member of such Board of
Directors on the Issue Date; or (2) was nominated for election or elected to such Board of
Directors with the approval of a majority of the Continuing Directors who were members of the
relevant Board at the time of such nomination or election.

          “Corporate Trust Office” means the designated office of the Trustee at which the
corporate trust business of the Trustee shall at any particular time be administered, which office
at the date of original execution of this Indenture is located at 7000 Central Parkway, Suite 550,
Atlanta, Georgia 30328.

          “Credit Agreement” means the Credit Agreement dated as of the Issue Date, by and among
Roadhouse Financing Inc., as borrower, Roadhouse Merger, Inc. as guarantor, JPMorgan Chase Bank,
N.A., as administrative agent, Credit Suisse AG as syndication agent, JPMorgan Chase Bank, N.A. and
Credit Suisse AG, as co-documentation agent, and J.P. Morgan Securities LLC and Credit Suisse
Securities (USA) LLC, as co-lead arranger and joint bookrunner, and the lenders and issuing banks
party thereto from time to time (as supplemented by the Joinder dated as of the Issue Date, by and
among Logan’s Roadhouse, Inc. and LRI Holdings, Inc.), and as the same may be amended, restated,
modified, renewed, refunded, replaced or refinanced in whole or in part from time to time
(including increasing the amount loaned thereunder, provided that such additional Indebtedness is
Incurred in accordance with Section 4.09); provided that a Credit Agreement shall not (1) include
Indebtedness issued, created or Incurred pursuant to a registered offering of securities under the
Securities Act or a private placement of securities (including under Rule 144A or Regulation S)
pursuant to an exemption from the registration requirements of the Securities Act or (2) relate to
Indebtedness that does not consist exclusively of Pari Passu Indebtedness or Guarantor Pari Passu
Indebtedness and the representative of such Indebtedness

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shall execute the Intercreditor Agreement or an amendment or supplement to the Intercreditor
Agreement agreeing to the terms of the Intercreditor Agreement.

          “Credit Agreement Obligations” means Indebtedness outstanding under the Credit
Agreement that is secured by a Permitted Lien described under clause (1) of the definition thereof,
and all other Obligations (including Obligations not constituting Indebtedness) of the Issuer or
any Guarantor under the Credit Agreement or any related agreement, including Hedging Obligations
and cash management obligations with lenders and their affiliates (whether or not such affiliate
continues thereafter to be an affiliate), so long as such Obligations under the Credit Agreement
represent First Priority Lien Obligations.

          “Currency Agreement” means in respect of a Person any foreign exchange contract,
currency swap agreement, futures contract, option contract or other similar agreement as to which
such Person is a party or a beneficiary.

          “Custodian” means the Trustee, in its capacity as custodian for the Global Notes, and
any successor in that capacity.

          “Debt Facility” means, with respect to the Issuer or any Subsidiary Guarantor, one or
more debt facilities (including, without limitation, the Credit Agreement) or commercial paper
facilities with banks or other institutional lenders providing for revolving credit loans, term
loans, receivables financing (including through the sale of receivables to such lenders or to
special purpose entities formed to borrow from such lenders against such receivables), letters of
credit or notes, in each case, as amended, restated, modified, renewed, refunded, replaced or
refinanced (including by means of sales of debt securities to institutional investors) in whole or
in part from time to time (and whether or not with the original administrative agent and lenders or
another administrative agent or agents or other lenders and whether provided under the original
Credit Agreement or any other credit or other agreement or indenture).

          “Default” means any event that is, or after notice or passage of time or both would
be, an Event of Default.

          “Depositary” means, with respect to the Notes issuable or issued in whole or in part
in global form, the Person specified in Section 2.03(b) as the Depositary with respect to the
Notes, and any and all successors thereto appointed as Depositary hereunder and having become such
pursuant to the applicable provision of this Indenture.

          “Designated Non-cash Consideration” means the fair market value of non-cash
consideration received by the Issuer or one of its Restricted Subsidiaries in connection with an
Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officers’
Certificate setting forth the basis of such valuation, less the amount of cash or Cash Equivalents
received in connection with a subsequent sale, redemption or payment of, on or with respect to such
Designated Non-cash Consideration.

          “Designated Sale/Leaseback Consideration” means the consideration received by the
Issuer or a Subsidiary Guarantor in connection with a Sale/Leaseback Transaction that is designated
as a Sale/Leaseback Transaction for purposes of Section 4.10 pursuant to an Officers’ Certificate
(one Officer signing such Officers’ Certificate shall be the Chief Financial Officer) setting forth
a brief description of

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the Sale/Leaseback Transaction and the calculation of the amount of Designated Sale/Leaseback
Consideration.

          “Disqualified Stock” means, with respect to any Person, any Capital Stock of such
Person that by its terms (or by the terms of any security into which it is convertible or for which
it is exchangeable) or upon the happening of any event:

          (1) matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise;

          (2) is convertible into or exchangeable for Indebtedness or Disqualified Stock (excluding
Capital Stock which is convertible or exchangeable solely at the option of the Issuer or a
Restricted Subsidiary (it being understood that upon such conversion or exchange it shall be an
Incurrence of such Indebtedness or Disqualified Stock)); or

          (3) is redeemable at the option of the holder of the Capital Stock in whole or in part,

in each case on or prior to the date 91 days after the earlier of the final maturity date of the
Notes or the date the Notes are no longer outstanding; provided, however, that only the portion of
Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or
is so redeemable at the option of the holder thereof prior to such date will be deemed to be
Disqualified Stock; provided, further that any Capital Stock that would constitute Disqualified
Stock solely because the holders thereof have the right to require the Issuer to repurchase such
Capital Stock upon the occurrence of a Change of Control or Asset Sale (each defined in a
substantially identical manner to the corresponding definitions in this Indenture) shall not
constitute Disqualified Stock if the terms of such Capital Stock (and all such securities into
which it is convertible or exchangeable or for which it is redeemable or exchangeable) provide that
the Issuer may not repurchase or redeem any such Capital Stock (and all such securities into which
it is convertible or for which it is ratable or exchangeable) pursuant to such provision prior to
compliance by the Issuer with Sections 4.10 and 4.14 and unless such repurchase or redemption
complies with Section 4.07.

          “Equity Interests” means:

          (i) in the case of a corporation, corporate stock;

          (ii) in the case of an association or business entity, any and all shares, interests,
participations, rights or other equivalents (however designated) of corporate stock;

          (iii) in the case of a partnership or limited liability company, partnership or membership
interests (whether general or limited);

          (iv) any other interest or participation that confers on a Person the right to receive a share
of the profits and losses of, or distributions of assets of, the issuing Person, and any rights
(other than debt securities convertible into capital stock) warrants or options exchangeable for or
convertible into such capital stock; and

          (v) all warrants, options or other rights to acquire any of the interests described in clauses
(i) through (iv) above (but excluding any debt security that is convertible into, or exchangeable
for, any of the interests described in clauses (i) through (iv) above).

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          “Equity Offering” means a public offering for cash by the Issuer or any of its direct
or indirect parent entities to the extent contributed to the Issuer as equity (other than
Disqualified Stock), as the case may be, of its Common Stock, or options, warrants or rights with
respect to its Common Stock to the extent an amount equal to the cash proceeds of such offering are
contributed to the Issuer in the case of an offering by a parent entity, other than (x) public
offerings with respect to the Issuer’s or any of its direct or indirect parent entities’, as the
case may be, Common Stock, or options, warrants or rights, registered on Form S-4 or S-8 or (y) an
issuance to any Subsidiary.

          “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules
and regulations of the SEC promulgated thereunder.

          “Exchange Notes” means Notes issued in a registered exchange offer pursuant to any
Registration Rights Agreement, containing terms substantially identical to the Initial Notes and
any Additional Notes (and any Notes issued in respect of the foregoing Notes upon transfer,
replacement or exchange of Notes) (except that such Exchange Notes may omit terms with respect to
transfer restrictions and may be registered under the Securities Act and certain provisions
relating to an increase in the stated rate of interest may be eliminated).

          “Excluded Assets” mean the “Excluded Property,” under and as defined in the Security
Agreement.

          “Excluded Contributions” means the Cash Equivalents or other assets (valued at their
fair market value by the Issuer’s Board of Directors in good faith) received by the Issuer after
the Issue Date from:

          (1) contributions to its common equity capital, and

          (2) the sale (other than to a Subsidiary of the Issuer or to any management equity plan or
stock option plan or any other management or employee benefit plan or agreement) of Capital Stock
(other than Disqualified Stock) of the Issuer,

in each case after the Issue Date and in each case designated as Excluded Contributions pursuant to
an Officer’s Certificate on or promptly after the date such capital contribution is made or the
date such Capital Stock is sold, as the case may be, which are excluded from the calculation set
forth in Section 4.07(a)(C).

          “Finance Merger” means the merger on the Issue Date of Finance Co with and into
Logan’s Roadhouse, Inc., with Logan’s Roadhouse, Inc. continuing as the surviving corporation.

          “First Priority Lien Obligations” means Obligations of the Issuer or any Subsidiary
Guarantor under Debt Facilities permitted to be Incurred under Section 4.09(b)(1) that has priority
relative to the Notes and the Note Guarantees with respect to the Collateral.

          “Foreign Subsidiary” means any Restricted Subsidiary that is not organized under the
laws of the United States of America or any state or territory thereof or the District of Columbia
and any Restricted Subsidiary of such Restricted Subsidiary.

          “Foreign Subsidiary Holding Company” means any Subsidiary organized under the laws of
the United States of America or any state or territory thereof or the District of Columbia,
substantially

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all of the assets of which consist of equity of one or more Subsidiaries that are “controlled
foreign corporations” within the meaning of Section 957 of the Code.

          “GAAP” means generally accepted accounting principles in the United States of America
as in effect as of the Issue Date, including those set forth in the opinions and pronouncements of
the Accounting Principles Board of the American Institute of Certified Public Accountants and
statements and pronouncements of the Financial Accounting Standards Board or in such other
statements by such other entity as approved by a significant segment of the accounting profession.
All ratios and computations based on GAAP contained in this Indenture will be computed in
conformity with GAAP. For the avoidance of doubt, all calculations, ratios and computations with
respect to leases contained in this Indenture will be computed in conformity with GAAP as in effect
as of the Issue Date.

          “Global Notes Legend” means the legend set forth under that caption in Appendix A
hereto.

          “Guarantee” means any obligation, contingent or otherwise, of any Person directly or
indirectly guaranteeing any Indebtedness of any other Person and any obligation, direct or
indirect, contingent or otherwise, of such Person:

          (1) to purchase or pay (or advance or supply funds for the purchase or payment of) such
Indebtedness of such other Person (whether arising by virtue of partnership arrangements, or by
agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay, or to
maintain financial statement conditions or otherwise); or

          (2) entered into for purposes of assuring in any other manner the obligee of such Indebtedness
of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in
part); provided, however, that the term “Guarantee” will not include endorsements for collection or
deposits in the ordinary course of business. The term “Guarantee” used as a verb has a
corresponding meaning.

          “Guarantor” means Holdings and each Restricted Subsidiary that provides a Note
Guarantee on the Issue Date and any other Restricted Subsidiary that provides a Note Guarantee in
accordance with this Indenture (including upon the execution and delivery of the Supplemental
Indenture for Merger); provided that upon release or discharge of such Restricted Subsidiary from
its Note Guarantee in accordance with this Indenture, such Restricted Subsidiary ceases to be a
Guarantor.

          “Guarantor Pari Passu Indebtedness” means, with respect to any Guarantor, any
Indebtedness (whether outstanding on the Issue Date or thereafter Incurred) that ranks equally in
right of payment to its Note Guarantee.

          “Guarantor Subordinated Obligation” means, with respect to any Guarantor, any
Indebtedness of such Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that
is expressly subordinated in right of payment to the obligations of such Guarantor under its Note
Guarantee pursuant to a written agreement.

          “Hedging Obligations” of any Person means the obligations of such Person pursuant to
any Interest Rate Agreement, Currency Agreement or Commodity Agreement.

          “Holder” means a Person in whose name a Note is registered on the Registrar’s books.

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          “Holdings” means Merger Co and, upon the execution and delivery of the Supplemental
Indenture for Merger, LRI Holdings, Inc. and, if applicable, any successor to its obligations under
this Indenture and its Note Guarantee pursuant to Article 5.

          “Incur” means issue, create, assume, Guarantee, incur or otherwise become liable for;
provided, however, that any Indebtedness or Capital Stock of a Person existing at the time such
Person becomes a Restricted Subsidiary (whether by merger, consolidation, acquisition or otherwise)
will be deemed to be Incurred by such Restricted Subsidiary at the time it becomes a Restricted
Subsidiary; and the terms “Incurred” and “Incurrence” have meanings correlative to the foregoing.

          “Indebtedness” means, with respect to any Person on any date of determination (without
duplication):

          (1) the principal of and premium (if any) in respect of indebtedness of such Person for
borrowed money;

          (2) the principal of and premium (if any) in respect of obligations of such Person evidenced
by bonds, debentures, notes or other similar instruments;

          (3) the principal component of all obligations of such Person in respect of letters of credit,
bankers’ acceptances or other similar instruments (including reimbursement obligations with respect
thereto, except to the extent such letter of credit, bankers’ acceptance or other similar
instrument relates to a trade payable and any such reimbursement obligation is satisfied within 30
days of Incurrence);

          (4) the principal component of all obligations of such Person to pay the deferred and unpaid
purchase price of property (including earn-out obligations), which purchase price is due after the
date of placing such property in service or taking delivery and title thereto, except (i) any such
balance that constitutes a trade payable or similar obligation to a trade creditor, in each case
accrued in the ordinary course of business and (ii) any earn-out obligation until the amount of
such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP;

          (5) Capitalized Lease Obligations and all Attributable Indebtedness of such Person;

          (6) the principal component or liquidation preference of all obligations of such Person with
respect to the redemption, repayment or other repurchase of any Disqualified Stock or, with respect
to any Subsidiary that is not a Subsidiary Guarantor, any Preferred Stock (but excluding, in each
case, any accrued dividends);

          (7) the principal component of all Indebtedness of other Persons secured by a Lien on any
asset of such Person, whether or not such Indebtedness is assumed by such Person; provided,
however, that the amount of such Indebtedness will be the lesser of (a) the fair market value of
such assets at such date of determination and (b) the amount of such Indebtedness of such other
Persons;

          (8) the principal component of Indebtedness of other Persons to the extent Guaranteed by such
Person (whether or not such items would appear on the balance sheet of the guarantor or obligor);

          (9) to the extent not otherwise included in this definition, net obligations of such Person
under Hedging Obligations (the amount of any such obligations to be equal at any time to the
termination

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value of such agreement or arrangement giving rise to such Obligation that would be payable by
such Person at such time); and

          (10) to the extent not otherwise included in this definition, the amount of obligations
outstanding under the legal documents entered into as part of a securitization transaction or
series of securitization transactions that would be characterized as principal if such transaction
were structured as a secured lending transaction rather than as a purchase outstanding relating to
a securitization transaction or series of securitization transactions;

provided, however, that notwithstanding the foregoing, Indebtedness shall be deemed not to include
(i) contingent obligations, incurred in the ordinary course of business and not in respect of
borrowed money; (ii) deferred or prepaid revenues, (iii) purchase price holdbacks in respect of a
portion of the purchase price of an asset to satisfy warranty or other unperformed obligations of
the respective seller or (iv) obligations arising after the Issue Date under sections 2.9, 5.2,
5.14 or 8.2 of the Merger Agreement.

          Notwithstanding the foregoing, money borrowed and set aside at the time of the Incurrence of
any Indebtedness in order to pre-fund the payment of interest on such Indebtedness shall not be
deemed to be “Indebtedness,” provided that such money is held to secure the payment of such
interest.

          In addition, “Indebtedness” of any Person shall include Indebtedness described in the
preceding paragraph that would not appear as a liability on the balance sheet of such Person if:

          (1) such Indebtedness is the obligation of a partnership or joint venture that is not a
Restricted Subsidiary (a “Joint Venture”);

          (2) such Person or a Restricted Subsidiary of such Person is a general partner of the Joint
Venture (a “General Partner”); and

          (3) there is recourse, by contract or operation of law, with respect to the payment of such
Indebtedness to property or assets of such Person or a Restricted Subsidiary of such Person; and
then such Indebtedness shall be included in an amount not to exceed:

          (a) the lesser of (i) the net assets of the General Partner and (ii) the amount of such
obligations to the extent that there is recourse, by contract or operation of law, to the property
or assets of such Person or a Restricted Subsidiary of such Person; or

          (b) if less than the amount determined pursuant to clause (a) immediately above, the actual
amount of such Indebtedness that is recourse to such Person or a Restricted Subsidiary of such
Person, if the Indebtedness is evidenced by a writing and is for a determinable amount.

          “Indenture” means this Indenture, as amended or supplemented from time to time.

          “Independent Financial Advisor” means an accounting, appraisal, investment banking
firm or consultant to Persons engaged in Similar Businesses of nationally recognized standing that
is, in the good faith judgment of the Issuer, qualified to perform the task for which it has been
engaged.

          “Initial Notes” has the meaning set forth in the recitals hereto (and any Notes issued
or authenticated upon transfer, replacement or exchange thereof) (other than Exchange Notes).

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          “Initial Purchasers” means J.P. Morgan Securities LLC and Credit Suisse Securities
(USA) LLC.

          “Intercreditor Agreement” means the Intercreditor Agreement to be entered into among
the Issuer, the Guarantors, the Trustee, the Collateral Agent, on behalf of itself and the Holders
and the Administrative Agent, on behalf of itself and the lenders under the Credit Agreement, as
the same may be amended, supplemented or otherwise modified from time to time.

          “Interest Payment Date” means April 15 and October 15 each year to the Stated Maturity
of the Notes.

          “Interest Rate Agreement” means, with respect to any Person any interest rate
protection agreement, interest rate future agreement, interest rate option agreement, interest rate
swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge
agreement or other similar agreement or arrangement as to which such Person is party or a
beneficiary.

          “Investment” means, with respect to any Person, all investments by such Person in
other Persons (including Affiliates) in the form of any direct or indirect advance, loan (other
than advances or extensions of credit to customers in the ordinary course of business) or other
extensions of credit (including by way of Guarantee or similar arrangement, but excluding any debt
or extension of credit represented by a bank deposit other than a time deposit) or capital
contribution to (by means of any transfer of cash or other property to others or any payment for
property or services for the account or use of others), or any purchase or acquisition of Capital
Stock, Indebtedness or other similar instruments issued by, such Person and all other items that
are or would be classified as investments on a balance sheet prepared in accordance with GAAP;
provided that none of the following will be deemed to be an Investment:

          (1) Hedging Obligations entered into in the ordinary course of business and in compliance with
this Indenture;

          (2) endorsements of negotiable instruments and documents in the ordinary course of business;
and

          (3) an acquisition of assets, Capital Stock or other securities by the Issuer or a Subsidiary
for consideration to the extent such consideration consists of Common Stock of the Issuer.

          For purposes of Section 4.07,

          (1) “Investment” will include the portion (proportionate to the Issuer’s equity interest in a
Restricted Subsidiary to be designated as an Unrestricted Subsidiary) of the fair market value of
the net assets of such Restricted Subsidiary at the time that such Restricted Subsidiary is
designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of such
Subsidiary as a Restricted Subsidiary, the Issuer will be deemed to continue to have a permanent
“Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to (a) the Issuer’s
aggregate “Investment” in such Subsidiary as of the time of such redesignation less (b) the portion
(proportionate to the Issuer’s equity interest in such Subsidiary) of the fair market value of the
net assets (as conclusively determined by the Board of Directors of the Issuer in good faith) of
such Subsidiary at the time that such Subsidiary is so re-designated a Restricted Subsidiary;

-19-

 

          (2) any property transferred to or from an Unrestricted Subsidiary will be valued at its fair
market value at the time of such transfer, in each case as determined in good faith by the Board of
Directors of the Issuer; and

          (3) if the Issuer or any Restricted Subsidiary sells or otherwise disposes of any Voting Stock
of any Restricted Subsidiary such that, after giving effect to any such sale or disposition, such
entity is no longer a Subsidiary of the Issuer, the Issuer shall be deemed to have made an
Investment on the date of any such sale or disposition equal to the fair market value (as
conclusively determined by the Board of Directors of the Issuer in good faith) of the Capital Stock
of such Subsidiary not sold or disposed of.

          “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the
equivalent) by Moody’s Investors Service, Inc. and BBB- (or the equivalent) by Standard & Poor’s
Ratings Group, Inc., in each case, with a stable or better outlook.

          “Issue Date” means October 4, 2010.

          “Issuer” means Finance Co and, upon the execution and delivery of the Supplemental
Indenture for Merger, Logan’s Roadhouse, Inc. and, if applicable, any successor obligor to its
obligations under this Indenture and the Notes pursuant to Article 5.

          “Junior Lien Obligations” means any Indebtedness of the Issuer or any Guarantor which
is or will be secured by a Lien on the Collateral on a basis that is junior to the Notes, the
Exchange Notes and the Note Guarantees.

          “Lender Debt” means any (i) Indebtedness outstanding from time to time under the
Credit Agreement, (ii) any Indebtedness which has a first-priority security interest in the
Collateral (subject to Permitted Liens) and (iii) all cash management Obligations and Hedging
Obligations Incurred with any Bank Lender or any of its affiliates.

          “Lien” means, with respect to any asset, any mortgage, lien (statutory or otherwise),
pledge, hypothecation, charge, security interest, preference, priority or encumbrance of any kind
in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable
law, including any conditional sale or other title retention agreement, any lease in the nature
thereof, any option or other agreement to sell or give a security interest in and any filing of or
agreement to give any financing statement under the Uniform Commercial Code (or equivalent
statutes) of any jurisdiction; provided that in no event shall an operating lease be deemed to
constitute a Lien.

          “Loan Documents” means, collectively, the Credit Agreement, this Indenture, the
Intercreditor Agreement, the Registration Rights Agreement, the Collateral Documents and the other
agreements contemplated thereby.

          “LRI Merger” means the merger on the Issue Date of Merger Co with and into LRI
Holdings, Inc., with LRI Holdings, Inc. continuing as the surviving corporation.

          “Management Investor” means the officers, directors, employees and other members of
the management of any direct or indirect parent entity, the Issuer or any of its Subsidiaries, or
family members or relatives thereof, or trusts or partnerships for the benefit of any of the
foregoing, or any of

-20-

 

their heirs, executors, successors and legal representatives, who at any date beneficially own
or have the right to acquire, directly or indirectly, Capital Stock of the Company or its direct or
indirect parent entity.

          “Merger Agreement” means the Agreement and Plan of Merger entered into on August 27,
2010 among LRI Holdings, Inc., Roadhouse Holdings Inc., Roadhouse Merger Inc. and LRI Acquisition,
LLC, as amended, supplemented or modified from time to time prior to the Issue Date, in accordance
with its terms.

          “Merger Documents” means the Merger Agreement and the other agreements contemplated
thereby.

          “Mortgages” means the mortgages, deeds of trust, deeds to secure Indebtedness or other
similar documents securing Liens on the Premises, as well as the other Collateral secured by and
described in the mortgages, deeds of trust, deeds to secure Indebtedness or other similar
documents.

          “Net Available Cash” from any Asset Sale (including an Asset Sale of Collateral) or
Recovery Event means cash payments received (including any cash payments received by way of
deferred payment of principal pursuant to a note or installment receivable or otherwise and net
proceeds from the sale or other disposition of any securities or other assets received as
consideration, but only as and when received, but excluding any other consideration received in the
form of assumption by the acquiring Person of Indebtedness or other obligations relating to the
properties or assets that are the subject of such Asset Sale or received in any other non-cash
form) therefrom, in each case net of:

          (1) all legal, accounting, investment banking, title and recording tax expenses, commissions
and other fees and expenses Incurred, and all Federal, state, provincial, foreign and local taxes
required to be paid or accrued as a liability under GAAP (after taking into account any available
tax credits or deductions and any tax sharing agreements), as a consequence of such Asset Sale;

          (2) all payments made on any Indebtedness that is secured with a higher priority than the
Notes and the Note Guarantees by assets subject to such Asset Sale, in accordance with the terms of
any Lien upon such assets, or which must by its terms, or in order to obtain a necessary consent to
such Asset Sale, or by applicable law be repaid out of the proceeds from such Asset Sale;

          (3) all distributions and other payments required to be made to minority interest holders in
Subsidiaries or joint ventures as a result of such Asset Sale; and

          (4) the deduction of appropriate amounts to be provided by the seller as a reserve, in
accordance with GAAP, against any liabilities associated with the assets disposed of in such Asset
Sale and retained by the Issuer or any Restricted Subsidiary after such Asset Sale.

          “Net Award” means any awards or proceeds in respect of any condemnation or other
eminent domain proceeding relating to any Collateral.

          “Net Cash Proceeds,” with respect to any issuance or sale of Capital Stock, means the
cash proceeds of such issuance or sale net of attorneys’ fees, accountants’ fees, underwriters’ or
placement agents’ fees, listing fees, discounts or commissions and brokerage, consultant and other
fees and charges actually Incurred in connection with such issuance or sale and net of taxes paid
or payable as a result of such issuance or sale (after taking into account any available tax credit
or deductions and any tax sharing arrangements); provided that the cash proceeds of an Equity
Offering by a direct or indirect

-21-

 

parent entity of the Issuer shall not be deemed Net Cash Proceeds, except to the extent such
cash proceeds are contributed to the Issuer.

          “Net Insurance Proceeds” means any awards or proceeds in respect of any casualty
insurance or title insurance claim relating to any Collateral.

          “Non-Guarantor Subsidiary” means any Restricted Subsidiary that is not a Subsidiary
Guarantor.

          “Non-Recourse Debt” means Indebtedness of a Person:

          (1) as to which neither the Issuer nor any Restricted Subsidiary (a) provides any Guarantee or
credit support of any kind (including any undertaking, Guarantee, indemnity, agreement or
instrument that would constitute Indebtedness) or (b) is directly or indirectly liable (as a
guarantor or otherwise);

          (2) no default with respect to which (including any rights that the holders thereof may have
to take enforcement action against an Unrestricted Subsidiary) would permit (upon notice, lapse of
time or both) any holder of any Indebtedness of the Issuer or any Restricted Subsidiary to declare
a default under such other Indebtedness or cause the payment thereof to be accelerated or payable
prior to its Stated Maturity; and

          (3) pursuant to which there is no recourse against any of the assets of the Issuer or its
Restricted Subsidiaries, except that representations, warranties, covenants and indemnities entered
into by the Issuer or any Restricted Subsidiary that are reasonably customary in securitization of
receivables transactions shall not be considered recourse.

          “Notes” means the Initial Notes and more particularly means any Note authenticated and
delivered under this Indenture. For all purposes of this Indenture, the term “Notes” shall also
include Exchange Notes, any Additional Notes that may be issued under a supplemental indenture and
Notes to be issued or authenticated upon transfer, replacement or exchange of Notes.

          “Note Guarantee” means, individually, any Guarantee of payment of the Notes, Exchange
Notes issued in a registered exchange offer pursuant to any Registration Rights Agreement and
Additional Notes by a Guarantor pursuant to the terms of this Indenture and any supplemental
indenture thereto and, collectively, all such Note Guarantees. Each Note Guarantee shall be in the
form prescribed in this Indenture.

          “Obligations” means any principal, interest (including any interest accruing
subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at the
rate provided for in the documentation with respect thereto, whether or not such interest is an
allowed claim under applicable state, federal or foreign law), other monetary obligations,
penalties, fees, indemnifications, reimbursements (including, without limitation, reimbursement
obligations with respect to letters of credit and banker’s acceptances), damages and other
liabilities, and Guarantees of payment of such principal, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities, payable under the documentation
governing any Indebtedness.

          “Offer to Purchase” means an Asset Sale Offer or a Change of Control Offer.

-22-

 

          “Offering Memorandum” means the offering memorandum, dated September 27, 2010,
relating to the sale of the Initial Notes.

          “Officer” means the Chairman of the Board, the Chief Executive Officer, the President,
the Chief Financial Officer, any Executive Vice President, Senior Vice President or Vice President
or the Secretary of the Issuer. Officer of any Guarantor has a correlative meaning.

          “Officers’ Certificate” means a certificate signed by two Officers of the Issuer, one
of whom is the principal executive officer, the principal financial officer, the treasurer or the
principal accounting officer of the Issuer and delivered to the Trustee.

          “Opinion of Counsel” means a written opinion from legal counsel who is acceptable to
the Trustee. The counsel may be an employee of or counsel to the Issuer or the Trustee.

          “Original Notes” means the Initial Notes and any Exchange Notes issued in exchange
therefor.

          “Pari Passu Indebtedness” means Indebtedness that ranks equally in right of payment to
the Notes without giving effect to collateral arrangements.

          “Pari Passu Lien Obligations” means any Additional Notes and any other Indebtedness
that has a stated maturity date that is longer than the Notes and that is permitted to have Pari
Passu Payment Lien Priority relative to the Notes with respect to the Collateral and is not secured
by any other assets; provided that an authorized representative of the holders of such Indebtedness
(other than any Additional Notes) shall have executed a joinder to the Collateral Documents in the
form provided therein. For the avoidance of doubt, Pari Passu Lien Obligations shall not include
First Priority Lien Obligations.

          “Pari Passu Payment Lien Priority” means, relative to specified Indebtedness and other
obligations having equal Lien priority on the Notes and the Note Guarantees, as the case may be, on
the Collateral.

          “Permitted Holders” means any of (a) the Sponsor or funds controlled or managed by the
Sponsor (other than any portfolio companies of any of the foregoing) and (b) the Management
Investors (but only with respect to their “beneficial ownership” (within the meaning of 13d-3 and
13d-5 under the Exchange Act) of up to 10% in the aggregate of the total voting power of the Voting
Stock of the Issuer or any direct or indirect parent entity, as the case may be) and (c) any Person
acting in the capacity of an underwriter in connection with a public or private offering of the
Capital Stock of the Issuer or any direct or indirect parent entity or securities convertible into
or exchangeable or exercisable for such Capital Stock. Any Person or group whose acquisition of
beneficial ownership constitutes a Change of Control in respect of which a Change of Control Offer
is made in accordance with the requirements of this Indenture (or would result in a Change of
Control Offer in the absence of the waiver of such requirement by Holders in accordance with this
Indenture) will thereafter constitute additional Permitted Holders.

          “Permitted Investment” means an Investment by the Issuer or any Restricted Subsidiary
in:

          (1) the Issuer or a Restricted Subsidiary;

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          (2) any Investment by the Issuer or any of its Restricted Subsidiaries in a Person that is
engaged in a Similar Business if as a result of such Investment:

          (a) such Person becomes a Subsidiary Guarantor; or

          (b) such Person, in one transaction or a series of related transactions, is merged or
consolidated with or into, or transfers or conveys substantially all of its assets to, or is
liquidated into, the Issuer or a Subsidiary Guarantor,

          and, in each case, any Investment held by such Person; provided, that such Investment was not
acquired by such Person in contemplation of such acquisition, merger, consolidation or transfer;

          (3) cash and Cash Equivalents;

          (4) receivables owing to the Issuer or any Restricted Subsidiary created or acquired in the
ordinary course of business and payable or dischargeable in accordance with customary trade terms;
provided, however, that such trade terms may include such concessionary trade terms as the Issuer
or any such Restricted Subsidiary deems reasonable under the circumstances;

          (5) payroll, travel and similar advances to cover matters that are expected at the time of
such advances ultimately to be treated as expenses for accounting purposes and that are made in the
ordinary course of business;

          (6) loans or advances to employees, officers or directors of the Issuer or any Restricted
Subsidiary in the ordinary course of business in an aggregate amount not in excess of $2.0 million
at any time outstanding;

          (7) any Investment acquired by the Issuer or any of its Restricted Subsidiaries:

          (a) in exchange for any other Investment or accounts receivable held by the Issuer or any such
Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or
recapitalization of the issuer of such other Investment or accounts receivable; or

          (b) as a result of a foreclosure by the Issuer or any of its Restricted Subsidiaries with
respect to any secured Investment or other transfer of title with respect to any secured Investment
in default;

          (8) Investments made as a result of the receipt of non-cash consideration from an Asset Sale
that was made pursuant to and in compliance with Section 4.10 or any other disposition of assets
not constituting an Asset Sale;

          (9) Investments in existence on, or made pursuant to binding commitments existing on, the
Issue Date and described in the Offering Memorandum or an Investment consisting of an extension,
modification or renewal of any Investment existing on the Issue Date and described in the Offering
Memorandum (other than reimbursements of Investments in the Issuer or any Subsidiary); provided
that the amount of any such Investment may be increased (x) as required by the terms of such
Investment as in existence on the Issue Date or (y) as otherwise permitted under this Indenture;

-24-

 

          (10) Currency Agreements, Interest Rate Agreements, Commodity Agreements and related Hedging
Obligations, which transactions or obligations are Incurred in compliance with Section 4.09;

          (11) Guarantees issued in accordance with Section 4.09;

          (12) Investments made in connection with the funding of contributions under any non-qualified
retirement plan or similar employee compensation plan in an amount not to exceed the amount of
compensation expense recognized by the Issuer and its Restricted Subsidiaries in connection with
such plans;

          (13) any transaction to the extent it constitutes an Investment that is permitted by and made
in accordance with Section 4.11(b) (except transactions described in clauses (2), (5), (8) and (16)
of such paragraph);

          (14) Investments consisting of the licensing or contribution of intellectual property pursuant
to joint marketing arrangements with other Persons;

          (15) Investments consisting of or to finance purchases and acquisitions of inventory,
supplies, materials, services or equipment or purchases of contract rights or licenses or leases of
intellectual property, in each case, in the ordinary course of business;

          (16) Investments of a Restricted Subsidiary acquired after the Issue Date or of an entity
merged into, amalgamated with, or consolidated with the Issuer or a Restricted Subsidiary in a
transaction that is not prohibited by Section 5.01 after the Issue Date to the extent that such
Investments were not made in contemplation of such acquisition, merger, amalgamation or
consolidation and were in existence on the date of such acquisition, merger, amalgamation or
consolidation and do not constitute a material portion of the assets of the entity so acquired; and

          (17) Investments by the Issuer or any of its Restricted Subsidiaries, together with all other
Investments pursuant to this clause (17), in an aggregate amount at the time of such Investment not
to exceed $20.0 million outstanding at any one time (with the fair market value of such Investment
being measured at the time made and without giving effect to subsequent changes in value).

          “Permitted Liens” means, with respect to any Person:

          (1) Liens securing Indebtedness and related Obligations Incurred pursuant to clause (1) of
Section 4.09(b); provided that any such Indebtedness may be First Priority Lien Obligations, Pari
Passu Lien Obligations or Junior Lien Obligations; provided further that any such Liens granted by
the Issuer or any Restricted Subsidiary pursuant to this clause (1) secure the Notes, the Exchange
Notes and the Note Guarantees on at least a second-priority basis (other than Excluded Collateral);

          (2) pledges or deposits by such Person under workers’ compensation laws, unemployment
insurance laws or similar legislation, or good faith deposits in connection with bids, tenders,
contracts (other than for the payment of Indebtedness) or leases to which such Person is a party,
or deposits to secure public or statutory obligations of such Person or deposits of cash or United
States government bonds to secure surety or appeal bonds to which such Person is a party, or
deposits as security for contested taxes or import or customs duties or for the payment of rent, in
each case Incurred in the ordinary course of business;

-25-

 

          (3) Liens imposed by law, including carriers’, warehousemen’s, mechanics’, materialmen’s and
repairmen’s Liens, Incurred in the ordinary course of business;

          (4) Liens for taxes, assessments or other governmental charges not yet subject to penalties
for non-payment or that are being contested in good faith by appropriate proceedings provided
appropriate reserves required pursuant to GAAP have been made in respect thereof;

          (5) Liens in favor of issuers of surety or performance bonds or letters of credit or bankers’
acceptances or similar obligations issued pursuant to the request of and for the account of such
Person in the ordinary course of its business; provided, however, that such letters of credit do
not constitute Indebtedness;

          (6) encumbrances, ground leases, easements or reservations of, or rights of others for,
licenses, rights of way, sewers, electric lines, telegraph and telephone lines and other similar
purposes, or zoning, building codes or other restrictions (including, without limitation, minor
defects or irregularities in title and similar encumbrances) as to the use of real properties or
Liens incidental to the conduct of the business of such Person or to the ownership of its
properties that do not in the aggregate materially adversely affect the value of said properties or
materially impair their use in the operation of the business of such Person;

          (7) Liens securing Hedging Obligations so long as the related Indebtedness is, and is
permitted to be under this Indenture, secured by a Lien on the same property securing such Hedging
Obligation;

          (8) leases, licenses, subleases and sublicenses of assets (including, without limitation, real
property and intellectual property rights) that do not materially interfere with the ordinary
conduct of the business of the Issuer or any of its Restricted Subsidiaries;

          (9) judgment Liens not giving rise to an Event of Default so long as such Lien is adequately
bonded and any appropriate legal proceedings which may have been duly initiated for the review of
such judgment have not been finally terminated or the period within which such proceedings may be
initiated has not expired;

          (10) Liens for the purpose of securing the payment of all or a part of the purchase price of,
or Capitalized Lease Obligations, mortgage financings, purchase money obligations or other
obligations Incurred to finance assets or property (other than Capital Stock or other Investments)
acquired, constructed, improved or leased in the ordinary course of business; provided that:

          (a) the aggregate principal amount of Indebtedness secured by such Liens is otherwise
permitted to be Incurred under this Indenture and does not exceed the cost of the assets or
property so acquired, constructed or improved; and

          (b) such Liens are created within 180 days of construction, acquisition or improvement of such
assets or property and do not encumber any other assets or property of the Issuer or any Restricted
Subsidiary other than such assets or property and assets affixed or appurtenant thereto;

          (11) Customary Liens relating to banker’s Liens, rights of set-off or similar rights and
remedies as to deposit accounts or other accounts maintained with a depositary or custodial
institution; provided that:

-26-

 

          (a) such deposit account is not a dedicated cash collateral account and is not subject to
restrictions against access by the Issuer in excess of those set forth by regulations promulgated
by the Federal Reserve Board; and

          (b) such deposit account is not intended by the Issuer or any Restricted Subsidiary to provide
collateral to the depository institution;

          (12) Liens arising from financing statement filings under the Uniform Commercial Code as in
effect in any applicable jurisdiction regarding operating leases entered into by the Issuer and its
Restricted Subsidiaries in the ordinary course of business;

          (13) Liens existing on the Issue Date (other than Liens permitted under clause (1));

          (14) Liens on property or shares of stock of a Person at the time such Person becomes a
Restricted Subsidiary; provided, however, that such Liens are not created, Incurred or assumed in
connection with, or in contemplation of, such other Person becoming a Restricted Subsidiary;
provided further, however, that any such Lien may not extend to any other property owned by the
Issuer or any Restricted Subsidiary;

          (15) Liens on property at the time the Issuer or a Restricted Subsidiary acquired the
property, including any acquisition by means of a merger or consolidation with or into the Issuer
or any Restricted Subsidiary; provided, however, that such Liens are not created, Incurred or
assumed in connection with, or in contemplation of, such acquisition; provided further, however,
that such Liens may not extend to any other property owned by the Issuer or any Restricted
Subsidiary;

          (16) Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing to the
Issuer or another Restricted Subsidiary;

          (17) Liens securing the Notes and Note Guarantees issued on the Issue Date, including Note
Guarantees issued upon execution and delivery of the Supplemental Indenture for Merger, and any
Exchange Notes issued in exchange therefor and related Note Guarantees and any obligations owing to
the Trustee or the Collateral Agent under this Indenture, the Collateral Documents or the
Intercreditor Agreement;

          (18) Liens securing Refinancing Indebtedness Incurred to refinance, refund, replace, amend,
extend or modify, as a whole or in part, Indebtedness that was previously so secured pursuant to
clauses (10), (13), (14), (15), (17) and (18) of this definition, provided that any such Lien is
limited to all or part of the same property or assets (plus improvements, accessions, proceeds or
dividends or distributions in respect thereof) that secured (or, under the written arrangements
under which the original Lien arose, could secure) the Indebtedness being refinanced or is in
respect of property that is the security for a Permitted Lien hereunder;

          (19) any interest or title of a lessor under any Capitalized Lease Obligation or operating
lease;

          (20) Liens in favor of the Issuer or any Restricted Subsidiary;

          (21) Liens under industrial revenue, municipal or similar bonds;

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          (22) Liens arising as a result of agreements to enter into a Sale/Leaseback Transaction and
not securing Indebtedness; provided, that such Liens shall not extend beyond the property that is
the subject of such Sale/Leaseback Transaction;

          (23) Liens solely on any cash earnest money deposits made by the Issuer or any of the
Restricted Subsidiaries in connection with any letter of intent or purchase agreement in respect of
any Investment permitted under this Indenture;

          (24) Liens arising from precautionary Uniform Commercial Code financing statements or
consignments entered into in connection with any transaction otherwise permitted under this
Indenture;

          (25) Liens on Equity Interests in joint ventures securing obligations of such joint ventures;

          (26) Liens on proceeds of insurance policies securing insurance premiums financing
arrangements, provided, that such Liens are limited to the applicable unpaid insurance premiums;

          (27) Liens on the Collateral securing Pari Passu Indebtedness incurred to finance an
acquisition permitted under this Indenture in a principal amount not to exceed $50.0 million in the
aggregate, provided that (x) such Indebtedness is incurred pursuant to Section 4.09 and such
Indebtedness has Pari Passu Payment Lien Priority pursuant to the Intercreditor Agreement and (y)
the Consolidated Coverage Ratio of the Issuer and its Restricted Subsidiaries after giving pro
forma effect to such acquisition would be equal to or greater than such ratio for the Issuer and
its Restricted Subsidiaries immediately prior to such acquisition; and

          (28) Liens on the Collateral securing Pari Passu Indebtedness permitted to be Incurred under
this Indenture, provided that such Indebtedness has Pari Passu Payment Lien Priority pursuant to
the Intercreditor Agreement, in an aggregate principal amount outstanding at any one time not to
exceed an amount equal to the greater of (x) $15.0 million and (y) 8.75% of Consolidated Net
Tangible Assets.

          “Person” means any individual, corporation, limited liability company, partnership,
joint venture, association, joint-stock company, trust, unincorporated organization, government or
any agency or political subdivision hereof or any other entity.

          “Preferred Stock,” as applied to the Capital Stock of any corporation, means Capital
Stock of any class or classes (however designated) that is preferred as to the payment of dividends
upon liquidation, dissolution or winding up.

          “Preopening Costs” means “start-up costs” (such term used herein as defined in SOP
98-5 published by the American Institute of Certified Public Accountants) related to the
acquisition, opening and organizing of new restaurants, including, without limitation, the cost of
feasibility studies, staff training and recruiting and travel costs for employees engaged in such
start-up activities.

          “Rating Agencies” means Standard & Poor’s Ratings Group, Inc. and Moody’s Investors
Service, Inc. or if Standard & Poor’s Ratings Group, Inc. or Moody’s Investors Service, Inc. or
both shall not make a rating on the Notes publicly available, a nationally recognized statistical
rating agency or agencies, as the case may be, selected by the Issuer (as certified by a resolution
of the Board of Directors) which shall be substituted for Standard & Poor’s Ratings Group, Inc. or
Moody’s Investors Service, Inc. or both, as the case may be.

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          “Record Date” for the interest payable on any applicable Interest Payment Date means
April 1 or October 1 (whether or not a Business Day) next preceding such Interest Payment Date.

          “Recovery Event” means any event, occurrence, claim or proceeding that results in any
Net Award or Net Insurance Proceeds.

          “Refinancing Indebtedness” means Indebtedness that is Incurred to refund, refinance,
replace, exchange, renew, repay or extend (including pursuant to any defeasance or discharge
mechanism) (collectively, “refinance,” “refinances” and “refinanced” shall each have a correlative
meaning) any Indebtedness existing on the Issue Date or Incurred in compliance with this Indenture
(including Indebtedness of the Issuer that refinances Indebtedness of any Restricted Subsidiary and
Indebtedness of any Restricted Subsidiary that refinances Indebtedness of the Issuer or another
Restricted Subsidiary) including Indebtedness that refinances Refinancing Indebtedness, provided,
however, that:

          (1) (a) if the Stated Maturity of the Indebtedness being refinanced is earlier than the Stated
Maturity of the Notes, the Refinancing Indebtedness has a Stated Maturity no earlier than the
Stated Maturity of the Indebtedness being refinanced or (b) if the Stated Maturity of the
Indebtedness being refinanced is later than the Stated Maturity of the Notes, the Refinancing
Indebtedness has a Stated Maturity at least 91 days later than the Stated Maturity of the Notes;

          (2) the Refinancing Indebtedness has an Average Life at the time such Refinancing Indebtedness
is Incurred that is equal to or greater than the Average Life of the Indebtedness being refinanced;

          (3) such Refinancing Indebtedness is Incurred in an aggregate principal amount (or if issued
with original issue discount, an aggregate issue price) that is equal to or less than the sum of
(a) the aggregate principal amount (or if issued with original issue discount, the aggregate
accreted value) then outstanding of the Indebtedness being refinanced plus (b) without duplication,
any additional Indebtedness Incurred to pay interest or premiums required by the instruments
governing such existing Indebtedness and fees, underwriting discounts and other costs and expenses
Incurred in connection therewith);

          (4) if the Indebtedness being refinanced is subordinated in right of payment to the Notes or
the Note Guarantee, such Refinancing Indebtedness is subordinated in right of payment to the Notes
or the Note Guarantee on terms at least as favorable to the Holders as those contained in the
documentation governing the Indebtedness being refinanced; and

          (5) Refinancing Indebtedness shall not include Indebtedness of a Non-Guarantor Subsidiary that
refinances Indebtedness of the Issuer or a Guarantor.

          “Responsible Officer” means, when used with respect to the Trustee, any officer within
the corporate trust department of the Trustee, including any vice president, assistant vice
president, assistant secretary, assistant treasurer, trust officer or any other officer of the
Trustee who customarily performs functions similar to those performed by the persons who at the
time shall be such officers, respectively, or to whom any corporate trust matter is referred
because of such person’s knowledge of and familiarity with the particular subject and who shall
have direct responsibility for the administration of this Indenture.

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          “Registration Rights Agreement” means that certain registration rights agreement dated
as of the Issue Date by and among the Issuer, the Guarantors and the Initial Purchasers set forth
therein and, with respect to any Additional Notes, one or more substantially similar registration
rights agreements among the Issuer and the other parties thereto, as such agreements may be amended
from time to time.

          “Restricted Investment” means any Investment other than a Permitted Investment.

          “Restricted Subsidiary” means any Subsidiary of the Issuer other than an Unrestricted
Subsidiary.

          “Sale/Leaseback Transaction” means an arrangement relating to restaurant properties
whether now owned or hereafter acquired whereby the Issuer or a Restricted Subsidiary transfers
such restaurant to a Person (other than the Issuer or any of its Subsidiaries) and the Issuer or a
Restricted Subsidiary leases it from such Person.

          “SEC” means the United States Securities and Exchange Commission.

          “Secured Indebtedness” means any Indebtedness of the Issuer or any of its Restricted
Subsidiaries secured by a Lien.

          “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations of the SEC promulgated thereunder.

          “Security Agreement” means that certain Security Agreement, dated as of October 4,
2010, by Finance Co and Merger Co in favor of the Collateral Agent, as the same may be amended,
supplemented or otherwise modified from time to time, including pursuant to a joinder agreement.

          “Senior Management” means the Chief Executive Officer and the Chief Financial Officer
of the Issuer.

          “Senior Unsecured Pari Passu Indebtedness” means:

          (1) with respect to the Issuer, any Indebtedness that ranks pari passu in right of payment to
the Notes but is unsecured; and

          (2) with respect to any Guarantor, any Indebtedness that ranks pari passu in right of payment
to such Guarantor’s Note Guarantee but is unsecured.

          “Significant Subsidiary” means any Restricted Subsidiary that would be a “Significant
Subsidiary” of the Issuer within the meaning of Rule 1-02 under Regulation S-X promulgated by the
SEC.

          “Similar Business” means any business conducted or proposed to be conducted by the
Issuer and its Restricted Subsidiaries on the Issue Date or any business that is similar,
reasonably related, incidental or ancillary thereto.

          “Sponsor” means Kelso & Company, L.P. and any of its Affiliates other than any
portfolio companies.

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          “Sponsor Management Agreement” means the Advisory Agreement dated as of the Issue Date
between Kelso & Company, L.P. and Logan’s Roadhouse, Inc., as the same may be amended, modified or
supplemented from time to time.

          “Stated Maturity” means, with respect to any security, the date specified in the
agreement governing or certificate relating to such Indebtedness as the fixed date on which the
final payment of principal of such security is due and payable, including pursuant to any mandatory
redemption provision, but shall not include any contingent obligations to repay, redeem or
repurchase any such principal prior to the date originally scheduled for the payment thereof.

          “Subordinated Obligation” means any Indebtedness of the Issuer (whether outstanding on
the Issue Date or thereafter Incurred) that is subordinated or junior in right of payment to the
Notes pursuant to a written agreement.

          “Subsidiary” of any Person means (a) any corporation, association or other business
entity (other than a partnership, joint venture, limited liability company or similar entity) of
which more than 50% of the total ordinary voting power of shares of Capital Stock entitled (without
regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof (or Persons performing similar functions) or (b) any partnership, joint venture
limited liability company or similar entity of which more than 50% of the capital accounts,
distribution rights, total equity and voting interests or general or limited partnership interests,
as applicable, is, in the case of clauses (a) and (b), at the time owned or controlled, directly or
indirectly, by (1) such Person, (2) such Person and one or more Subsidiaries of such Person or (3)
one or more Subsidiaries of such Person. Unless otherwise specified herein, each reference to a
Subsidiary will refer to a Subsidiary of the Issuer.

          “Subsidiary Guarantor” means each Restricted Subsidiary in existence on the Issue Date
and any other Restricted Subsidiary that provides a Note Guarantee in accordance with this
Indenture (including upon the execution and delivery of the Supplemental Indenture for Merger);
provided that upon release or discharge of such Restricted Subsidiary from its Note Guarantee in
accordance with this Indenture, such Restricted Subsidiary ceases to be a Subsidiary Guarantor.

          “Supplemental Indenture for Merger” means the Supplemental Indenture, dated as of the
Issue Date, by and among Logan’s Roadhouse, Inc., LRI Holdings, Inc., Logan’s Roadhouse of Texas,
Inc., Logan’s Roadhouse of Kansas, Inc., the Trustee and the Collateral Agent, in the form set
forth in Exhibit D hereto.

          “Trademark Security Agreement” means the Notice and Confirmation of Grant of Second
Lien Security Interest in Trademarks, dated as of the Issue Date, by and between Logan’s Roadhouse,
Inc. and the Collateral Agent.

          “Transactions” means the transactions described under “The Transactions” section of
the Offering Memorandum.

          “Treasury Rate” means the yield to maturity at the time of computation of United
States Treasury securities with a constant maturity (as compiled and published in the most recent
Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two
Business Days prior to the redemption date (or, if such Statistical Release is no longer published,
any publicly available source of similar market data)) most nearly equal to the period from the
redemption date to October 15, 2013; provided, however, that if the period from the redemption date
to October 15, 2013 is not equal to

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the constant maturity of a United States Treasury security for which a weekly average yield is
given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest
one-twelfth of a year) from the weekly average yields of United States Treasury securities for
which such yields are given, except that if the period from the redemption date to October 15, 2013
is less than one year, the weekly average yield on actually traded United States Treasury
securities adjusted to a constant maturity of one year will be used.

          “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§
77aaa-777bbbb).

          “Trustee” means the party named as such in this Indenture until a successor replaces
it and, thereafter, means such successor.

          “Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from
time to time.

          “Unrestricted Subsidiary” means:

          (1) any Subsidiary of the Issuer that at the time of determination shall be designated an
Unrestricted Subsidiary by the Board of Directors of the Issuer in the manner provided below; and

          (2) any Subsidiary of an Unrestricted Subsidiary.

          The Board of Directors of the Issuer may designate any Subsidiary of the Issuer (including any
newly acquired or newly formed Subsidiary or a Person becoming a Subsidiary through merger or
consolidation or Investment therein) to be an Unrestricted Subsidiary only if:

          (1) neither such Subsidiary nor any of its Subsidiaries owns any Capital Stock or Indebtedness
of or has any Investment in, or owns or holds any Lien on any property of, any other Subsidiary of
the Issuer that is not a Subsidiary of the Subsidiary to be so designated or otherwise an
Unrestricted Subsidiary;

          (2) all the Indebtedness of such Subsidiary and its Subsidiaries shall, at the date of
designation, and will at all times thereafter, consist of Non-Recourse Debt;

          (3) such designation and the Investment of the Issuer in such Subsidiary complies with Section
4.07;

          (4) such Subsidiary, either alone or in the aggregate with all other Unrestricted
Subsidiaries, does not operate, directly or indirectly, all or substantially all of the business of
the Issuer and its Subsidiaries;

          (5) such Subsidiary is a Person with respect to which neither the Issuer nor any of its
Restricted Subsidiaries has any direct or indirect obligation:

          (a) to subscribe for additional Capital Stock of such Person; or

          (b) to maintain or preserve such Person’s financial condition or to cause such Person to
achieve any specified levels of operating results; and

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          (6) on the date such Subsidiary is designated an Unrestricted Subsidiary, such Subsidiary is
not a party to any agreement, contract, arrangement or understanding with the Issuer or any
Restricted Subsidiary with terms substantially less favorable to the Issuer than those that might
have been obtained from Persons who are not Affiliates of the Issuer.

          Any such designation by the Board of Directors of the Issuer shall be evidenced to the Trustee
by filing with the Trustee a resolution of the Board of Directors of the Issuer giving effect to
such designation and an Officers’ Certificate certifying that such designation complies with the
foregoing conditions. If, at any time, any Unrestricted Subsidiary would fail to meet the foregoing
requirements as an Unrestricted Subsidiary, it shall thereafter cease to be an Unrestricted
Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary shall be deemed
to be Incurred as of such date.

          The Board of Directors of the Issuer may designate any Unrestricted Subsidiary to be a
Restricted Subsidiary; provided that immediately after giving effect to such designation, no
Default or Event of Default shall have occurred and be continuing or would occur as a consequence
thereof and the Issuer could Incur at least $1.00 of additional Indebtedness pursuant to Section
4.09(a) on a pro forma basis taking into account such designation.

          “U.S. Government Securities” means securities that are (a) direct obligations of the
United States of America for the timely payment of which its full faith and credit is pledged or
(b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality
of the United States of America the timely payment of which is unconditionally guaranteed as a full
faith and credit obligation of the United States of America, which, in either case, are not
callable or redeemable at the option of the issuer thereof, and shall also include a depositary
receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with
respect to any such U.S. Government Securities or a specific payment of principal of or interest on
any such U.S. Government Securities held by such custodian for the account of the holder of such
depositary receipt; provided that (except as required by law) such custodian is not authorized to
make any deduction from the amount payable to the holder of such depositary receipt from any amount
received by the custodian in respect of the U.S. Government Securities or the specific payment of
principal of or interest on the U.S. Government Securities evidenced by such depositary receipt.

          “Voting Stock” of a Person means all classes of Capital Stock of such Person then
outstanding and normally entitled to vote in the election of directors, managers or trustees, as
applicable, of such Person.

          “Wholly Owned Subsidiary” of any Person means a Subsidiary, all of the Capital Stock
of which (other than directors’ qualifying shares) is owned by such Person or one or more other
Wholly Owned Subsidiaries of such Person.

          Section 1.02
Other Definitions. 

	 	 	 
	Term	 	Defined in Section
	“Acceptable Commitment”

	 	4.10 
	“Affiliate Transaction”

	 	4.11(a) 
	“After-Acquired Threshold Premises”

	 	10.05 
	“Agent Members”

	 	2.1(c) of Appendix A
	“Applicable Procedures”

	 	1.1(a) of Appendix A

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	Term	 	Defined in Section
	“Asset Sale Offer”

	 	4.10(1)(b) 
	“Asset Sale Offer Amount”

	 	3.09(b) 
	“Asset Sale Purchase Date”

	 	3.09(b) 
	“Authentication Order”

	 	2.02(c) 
	“Change of Control Offer”

	 	4.14(a) 
	“Change of Control Payment”

	 	4.14(a) 
	“Change of Control Payment Date”

	 	4.14(a) 
	“Clearstream”

	 	1.1(a) of Appendix A
	“Collateral Acceptable Commitment”

	 	4.10 
	“Collateral Second Commitment”

	 	4.10 
	“Covenant Defeasance”

	 	8.03 
	“Current Premises”

	 	10.05 
	“Definitive Notes”

	 	2.1(d) of Appendix A
	“Definitive Notes Legend”

	 	2.3(e) of Appendix A
	“DTC”

	 	2.03(b) 
	“Event of Default”

	 	6.01(a) 
	“Excess Proceeds”

	 	4.10(1)(b) 
	“Expiration Date”

	 	1.05(j) 
	“Global Note”

	 	2.1(b) of Appendix A
	“Global Notes Legend”

	 	2.3(e) of Appendix A
	“IAI”

	 	1.1(a) of Appendix A
	“IAI Global Note”

	 	2.1(b) of Appendix A
	“Initial Investment”

	 	4.10 
	“intercompany loan”

	 	4.07(b)(13) 
	“Legal Defeasance”

	 	8.02(a) 
	“Note Register”

	 	2.03(a) 
	“OID Notes Legend”

	 	2.3(e) of Appendix A
	“Pari Passu Notes”

	 	4.10(4) 
	“Paying Agent”

	 	2.03(a) 
	“payment default”

	 	6.01(a)(5)(a) 
	“Premises”

	 	10.05 
	“QIB”

	 	1.1(a) of Appendix A
	“Qualified After-Acquired Real Property”

	 	10.03 
	“Registrar”

	 	2.03(a) 
	“Regulation S”

	 	1.1(a) of Appendix A
	“Regulation S Global Note”

	 	2.1(b) of Appendix A
	“Regulation S Notes”

	 	2.1(a) of Appendix A
	“Reinstatement Date”

	 	4.19 
	“Restricted Notes Legend”

	 	2.3(e) of Appendix A
	“Restricted Payments”

	 	4.07(a) 
	“Rule 144”

	 	1.1(a) of Appendix A
	“Rule 144A”

	 	1.1(a) of Appendix A
	“Rule 144A Global Note”

	 	2.1(b) of Appendix A
	“Rule 144A Notes”

	 	2.1(a) of Appendix A
	“Rule 501”

	 	1.1(a) of Appendix A
	“Second Commitment”

	 	4.10 
	“Sub-Threshold Properties”

	 	10.05 

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	Term	 	Defined in Section
	“Successor Company”

	 	5.01(a) 
	“Successor Guarantor”

	 	5.01(c) 
	“Suspended Covenants”

	 	4.19 

          Section 1.03 Rules of Construction.

          Unless the context otherwise requires:

     (1) a term defined in Section 1.01 or 1.02 has the meaning assigned to it therein, and
a term used herein that is defined in the Trust Indenture Act, either directly or by
reference therein, shall have the meaning assigned to it therein;

     (2) an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP;

     (3) “or” is not exclusive;

     (4) words in the singular include the plural, and words in the plural include the
singular;

     (5) provisions apply to successive events and transactions;

     (6) unless the context otherwise requires, any reference to an “Appendix,” “Article,”
“Section,” “clause,” “Schedule” or “Exhibit” refers to an Appendix, Article, Section,
clause, Schedule or Exhibit, as the case may be, of this Indenture;

     (7) the words “herein,” “hereof” and other words of similar import refer to this
Indenture as a whole and not any particular Article, Section, clause or other subdivision;

     (8) “including” means including without limitation;

     (9) references to sections of, or rules under, the Securities Act, the Exchange Act or
the Trust Indenture Act shall be deemed to include substitute, replacement or successor
sections or rules adopted by the SEC from time to time;

     (10) unless otherwise provided, references to agreements and other instruments shall be
deemed to include all amendments and other modifications to such agreements or instruments,
but only to the extent such amendments and other modifications are not prohibited by the
terms of this Indenture; and

     (11) in the event that a transaction meets the criteria of more than one category of
permitted transactions or listed exceptions, the Issuer may classify such transaction as it,
in its sole discretion, determines.

          Section 1.04 Incorporation by Reference of Trust Indenture Act.

          Whenever this Indenture refers to a provision of the Trust Indenture Act as applicable to this
Indenture, the provision is incorporated by reference in and made a part of this Indenture.

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          The following Trust Indenture Act term used in this Indenture has the following meaning:

          “obligor” on the Notes and the Guarantees means the Issuer and the Guarantors,
respectively, and any successor obligor upon the Notes and the Guarantees, respectively.

          All other terms used in this Indenture that are defined by the Trust Indenture Act, defined by
Trust Indenture Act reference to another statute or defined by SEC rule under the Trust Indenture
Act have the meanings so assigned to them.

          Section 1.05 Acts of Holders.

          (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in person or by an agent
duly appointed in writing. Except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments or record or both are delivered to the Trustee and,
where it is hereby expressly required, to the Issuer and the Guarantors. Proof of execution of any
such instrument or of a writing appointing any such agent, or the holding by any Person of a Note,
shall be sufficient for any purpose of this Indenture and (subject to Section 7.01) conclusive in
favor of the Trustee, the Issuer and the Guarantors, if made in the manner provided in this Section
1.05.

          (b) The fact and date of the execution by any Person of any such instrument or writing may be
proved (1) by the affidavit of a witness of such execution or by the certificate of any notary
public or other officer authorized by law to take acknowledgments of deeds, certifying that the
individual signing such instrument or writing acknowledged to him the execution thereof or (2) in
any other manner deemed reasonably sufficient by the Trustee. Where such execution is by or on
behalf of any legal entity other than an individual, such certificate or affidavit shall also
constitute proof of the authority of the Person executing the same. The fact and date of the
execution of any such instrument or writing, or the authority of the Person executing the same, may
also be proved in any other manner that the Trustee deems sufficient.

          (c) The ownership of Notes shall be proved by the Note Register.

          (d) Any request, demand, authorization, direction, notice, consent, waiver or other action by
the Holder of any Note shall bind every future Holder of the same Note and the Holder of every Note
issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in
respect of any action taken, suffered or omitted by the Trustee, the Issuer or the Guarantors in
reliance thereon, whether or not notation of such action is made upon such Note.

          (e) The Issuer may set a record date for purposes of determining the identity of Holders
entitled to make, give or take any request, demand, authorization, direction, notice, consent,
waiver or other action provided in this Indenture to be made, or to vote on any action authorized
or permitted to be taken by Holders; provided that the Issuer may not set a record date for, and
the provisions of this paragraph shall not apply with respect to, the giving or making of any
notice, declaration, request or direction referred to in clause (f) below. Unless otherwise
specified, if not set by the Issuer prior to the first solicitation of a Holder made by any Person
in respect of any such action, or in the case of any such vote, prior to such vote, any such record
date shall be the later of 30 days prior to the first solicitation of such consent or vote or the
date of the most recent list of Holders furnished to the Trustee prior to such solicitation or
vote. If any record date is set pursuant to this clause (e), the Holders

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on such record date, and
only such Holders, shall be entitled to make, give or take such request, demand, authorization,
direction, notice, consent, waiver or other action (including revocation of any action), whether or
not such Holders remain Holders after such record date; provided that no such action shall be
effective hereunder unless made, given or taken on or prior to the applicable Expiration Date by
Holders of the requisite principal amount of Notes, or each affected Holder, as applicable, on such
record date. Promptly after any record date is set pursuant to this paragraph, the Issuer, at its
own expense, shall cause notice of such record date, the proposed action by Holders and the
applicable Expiration Date to be given to the Trustee in writing and to each Holder in the manner
set forth in Section 13.02.

          (f) The Trustee may set any day as a record date for the purpose of determining the Holders
entitled to join in the giving or making of (1) any notice of default under Section 6.01(a), (2)
any declaration of acceleration referred to in Section 6.02, (3) any direction referred to in
Section 6.05 or (4) any request to institute proceedings referred to in Section 6.06(2). If any
record date is set pursuant to this paragraph, the Holders on such record date, and only such
Holders, shall be entitled to join in such notice, declaration, request or direction, whether or
not such Holders remain Holders after such record date; provided that no such action shall be
effective hereunder unless made, given or taken on or prior to the applicable Expiration Date by
Holders of the requisite principal amount of Notes or each affected Holder, as applicable, on such
record date. Promptly after any record date is set pursuant to this paragraph, the Trustee, at the
Issuer’s expense, shall cause notice of such record date, the proposed action by Holders and the
applicable Expiration Date to be given to the Issuer in writing and to each Holder in the manner
set forth in Section 13.02.

          (g) Without limiting the foregoing, a Holder entitled to take any action hereunder with regard
to any particular Note may do so with regard to all or any part of the principal amount of such
Note or by one or more duly appointed agents, each of which may do so pursuant to such appointment
with regard to all or any part of such principal amount. Any notice given or action taken by a
Holder or its agents with regard to different parts of such principal amount pursuant to this
paragraph shall have the same effect as if given or taken by separate Holders of each such
different part.

          (h) Without limiting the generality of the foregoing, a Holder, including a Depositary that is
the Holder of a Global Note, may make, give or take, by a proxy or proxies duly appointed in
writing, any request, demand, authorization, direction, notice, consent, waiver or other action
provided in this Indenture to be made, given or taken by Holders, and a Depositary that is the
Holder of a Global Note, may provide its proxy or proxies to the beneficial owners of interests in
any such Global Note through such Depositary’s standing instructions and customary practices.

          (i) The Issuer may fix a record date for the purpose of determining the Persons who are
beneficial owners of interests in any Global Note held by a Depositary entitled under the
procedures of such Depositary, if any, to make, give or take, by a proxy or proxies duly appointed
in writing, any
request, demand, authorization, direction, notice, consent, waiver or other action provided in
this Indenture to be made, given or taken by Holders; provided that if such a record date is fixed,
only the Holders on such record date or their duly appointed proxy or proxies shall be entitled to
make, give or take such request, demand, authorization, direction, notice, consent, waiver or other
action, whether or not such Holders remain Holders after such record date. No such request,
demand, authorization, direction, notice, consent, waiver or other action shall be effective
hereunder unless made, given or taken on or prior to the applicable Expiration Date.

          (j) With respect to any record date set pursuant to this Section 1.05, the party hereto that
sets such record date may designate any day as the “Expiration Date” and from time to time
may

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change the Expiration Date to any earlier or later day; provided that no such change shall be
effective unless notice of the proposed new Expiration Date is given to the other party hereto in
writing, and to each Holder of Notes in the manner set forth in Section 13.02, on or prior to the
existing Expiration Date. If an Expiration Date is not designated with respect to any record date
set pursuant to this Section 1.05, the party hereto which set such record date shall be deemed to
have initially designated the 120th day after such record date as the Expiration Date with respect
thereto, subject to its right to change the Expiration Date as provided in this clause (j).

ARTICLE 2

THE NOTES

          Section 2.01 Form and Dating; Terms.

          (a) Provisions relating to the Initial Notes, Exchange Notes and Additional Notes and any
other Notes issued are set forth in Appendix A hereto, which is hereby incorporated in and
expressly made a part of this Indenture. The Notes and the Trustee’s certificate of authentication
shall each be substantially in the form of Exhibit A hereto, which is hereby incorporated in and
expressly made a part of this Indenture. The Notes may have notations, legends or endorsements
required by law, rules or agreements with national securities exchanges to which the Issuer or any
Guarantor is subject, if any, or usage (provided that any such notation, legend or endorsement is
in a form acceptable to the Issuer). Each Note shall be dated the date of its authentication. The
Notes shall be in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

          (b) The aggregate principal amount of Notes that may be authenticated and delivered under this
Indenture is unlimited.

          The terms and provisions contained in the Notes shall constitute, and are hereby expressly
made, a part of this Indenture and the Issuer, the Guarantors, the Trustee and the Collateral
Agent, by their execution and delivery of this Indenture, expressly agree to such terms and
provisions and to be bound thereby. However, to the extent any provision of any Note conflicts
with the express provisions of this Indenture, the provisions of this Indenture shall govern and be
controlling.

          The Notes shall be subject to repurchase by the Issuer pursuant to an Asset Sale Offer as
provided in Section 4.10 or a Change of Control Offer as provided in Section 4.14. The Notes shall
not be redeemable, other than as provided in Article 3.

          Additional Notes (and any Exchange Notes issued in exchange therefor) ranking pari passu with
the Initial Notes may be created and issued from time to time by the Issuer without notice to or
consent of the Holders and shall be consolidated with and form a single class with the Initial
Notes and shall have the same terms as to status, redemption or otherwise (other than issue date,
issue price and, if applicable, the first Interest Payment Date and the initial interest accrual
date) as the Initial Notes; provided that the Issuer’s ability to issue Additional Notes shall be
subject to the Issuer’s compliance with Section 4.09. Any Additional Notes shall be issued with
the benefit of an indenture supplemental to this Indenture.

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          Section 2.02 Execution and Authentication.

          (a) At least one Officer shall execute the Notes on behalf of the Issuer by manual or
facsimile signature. If an Officer whose signature is on a Note no longer holds that office at the
time a Note is authenticated, the Note shall nevertheless be valid.

          (b) A Note shall not be entitled to any benefit under this Indenture or be valid or obligatory
for any purpose until authenticated substantially in the form of Exhibit A attached hereto by the
manual signature of an authorized signatory of the Trustee. The signature shall be conclusive
evidence that the Note has been duly authenticated and delivered under this Indenture.

          (c) On the Issue Date, the Trustee shall, upon receipt of a written order of the Issuer signed
by an Officer (an “Authentication Order”), authenticate and deliver the Initial Notes. In
addition, at any time and from time to time, the Trustee shall upon receipt of an Authentication
Order, authenticate and deliver (i) any Additional Notes or (ii) Exchange Notes for issue in
exchange for a like principal amount of Initial Notes or Additional Notes, in an aggregate
principal amount specified in such Authentication Order for such Additional Notes (or Exchange
Notes, as applicable) issued hereunder.

          (d) The Trustee may appoint an authenticating agent acceptable to the Issuer to authenticate
Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so. Each
reference in this Indenture to authentication by the Trustee includes authentication by such agent.
An authenticating agent has the same rights as a Paying Agent to deal with Holders or an Affiliate
of the Issuer.

          Section 2.03 Registrar and Paying Agent.

          (a) The Issuer shall maintain an office or agency where Notes may be presented for
registration of transfer or for exchange (“Registrar”) and at least one office or agency
where Notes may be presented for payment (“Paying Agent”). The Registrar shall keep a
register of the Notes (“Note Register”) and of their transfer and exchange. The Issuer may
appoint one or more co-registrars and one or more additional paying agents. The term
“Registrar” includes any co-registrar, and the term “Paying Agent” includes any
additional paying agent. The Issuer may change any Paying Agent or Registrar without prior notice
to any Holder. The Issuer shall notify the Trustee in writing of the name and address of any Agent
not a party to this Indenture. If the Issuer fails to appoint or maintain another entity as
Registrar or Paying Agent, the Trustee shall act as such. The Issuer or any of its Subsidiaries
may act as Paying Agent or Registrar.

          (b) The Issuer initially appoints The Depository Trust Company (“DTC”) to act as
Depositary with respect to the Global Notes. The Issuer initially appoints the Trustee to act as
Paying Agent and Registrar for the Notes and to act as a custodian with respect to the Global
Notes.

          Section 2.04 Paying Agent to Hold Money in Trust.

          The Issuer shall, no later than 11:00 a.m. (New York City time) on each due date for the
payment of principal of, premium, if any, and interest on any of the Notes, deposit with a Paying
Agent a sum sufficient to pay such amount, such sum to be held in trust for the Holders entitled to
the same, and (unless such Paying Agent is the Trustee) the Issuer shall promptly notify the
Trustee of its action or failure so to act. The Issuer shall require each Paying Agent other than
the Trustee to agree in writing that such Paying Agent shall hold in trust for the benefit of
Holders or the Trustee all money held by such

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Paying Agent for the payment of principal of,
premium, if any, and interest on the Notes, and shall notify the Trustee in writing of any default
by the Issuer in making any such payment. While any such default continues, the Trustee may
require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may
require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the
Trustee, a Paying Agent (if other than the Issuer or a Subsidiary) shall have no further liability
for the money. If the Issuer or a Subsidiary acts as Paying Agent, it shall segregate and hold in
a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon
any bankruptcy or reorganization proceedings relating to the Issuer, the Trustee shall serve as
Paying Agent for the Notes.

          Section 2.05 Holder Lists.

          The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of all Holders and shall otherwise comply with
Trust Indenture Act Section 312(a). If the Trustee is not the Registrar, the Issuer shall furnish
to the Trustee at least two Business Days before each Interest Payment Date and at such other times
as the Trustee may request in writing, a list in such form and as of such date as the Trustee may
reasonably require of the names and addresses of the Holders, and the Issuer shall otherwise comply
with Trust Indenture Act Section 312(a).

          Section 2.06 Transfer and Exchange.

          (a) The Notes shall be issued in registered form and shall be transferable only upon the
surrender of a Note for registration of transfer and in compliance with Appendix A.

          (b) To permit registrations of transfers and exchanges, the Issuer shall execute and the
Trustee shall authenticate Global Notes and Definitive Notes upon receipt of an Authentication
Order in accordance with Section 2.02 or at the Registrar’s request.

          (c) No service charge shall be made to a holder of a beneficial interest in a Global Note or
to a Holder of a Definitive Note for any registration of transfer or exchange (other than pursuant
to Section 2.07), but the Holders shall be required to pay any transfer tax or similar governmental
charge
payable in connection therewith (other than any such transfer taxes or similar governmental
charge payable upon exchange or transfer pursuant to Sections 2.10, 3.06, 3.09, 4.10, 4.14 and
9.05).

          (d) All Global Notes and Definitive Notes issued upon any registration of transfer or exchange
of Global Notes or Definitive Notes shall be the valid obligations of the Issuer, evidencing the
same debt, and entitled to the same benefits under this Indenture, as the Global Notes or
Definitive Notes surrendered upon such registration of transfer or exchange.

          (e) Neither the Issuer nor the Registrar shall be required (1) to issue, to register the
transfer of or to exchange any Note during a period beginning at the opening of business 15 days
before the day of any selection of Notes for redemption under Section 3.02 and ending at the close
of business on the day of selection, (2) to register the transfer of or to exchange any Note so
selected for redemption in whole or in part, except the unredeemed portion of any Note being
redeemed in part or (3) to register the transfer of or to exchange any Note between a Record Date
and the next succeeding Interest Payment Date.

          (f) Prior to due presentment for the registration of a transfer of any Note, the Trustee, any
Agent and the Issuer may deem and treat the Person in whose name any Note is registered as the

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absolute owner of such Note for the purpose of receiving payment of principal of, premium, if any,
and (subject to the record date provisions of the Notes) interest on such Notes and for all other
purposes, and none of the Trustee, any Agent or the Issuer shall be affected by notice to the
contrary.

          (g) Upon surrender for registration of transfer of any Note at the office or agency of the
Issuer designated pursuant to Section 4.02, the Issuer shall execute, and the Trustee shall
authenticate and mail, in the name of the designated transferee or transferees, one or more
replacement Notes of any authorized denomination or denominations of a like aggregate principal
amount.

          (h) At the option of the Holder, Notes may be exchanged for other Notes of any authorized
denomination or denominations of a like aggregate principal amount upon surrender of the Notes to
be exchanged at such office or agency. Whenever any Global Notes or Definitive Notes are so
surrendered for exchange, the Issuer shall execute, and the Trustee shall authenticate and mail,
the replacement Global Notes and Definitive Notes which the Holder making the exchange is entitled
to in accordance with the provisions of Section 2.02.

          (i) All certifications, certificates and Opinions of Counsel required to be submitted to the
Registrar pursuant to this Section 2.06 to effect a registration of transfer or exchange may be
submitted by mail or by facsimile or electronic transmission in PDF format.

          Section 2.07 Replacement Notes.

          If a mutilated Note is surrendered to the Trustee or if a Holder claims that its Note has been
lost, destroyed or wrongfully taken and the Issuer and the Trustee receives evidence to its
satisfaction of the ownership and loss, destruction or theft of such Note, the Issuer shall issue
and the Trustee, upon receipt of an Authentication Order, shall authenticate a replacement Note if
the Trustee’s requirements are otherwise met. An indemnity bond must be provided by the Holder
that is sufficient in the judgment of the Trustee and the Issuer to protect the Issuer, the
Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note
is replaced. The Issuer may
charge the Holder for the expenses of the Issuer and the Trustee in replacing a Note. Every
replacement Note is a contractual obligation of the Issuer and shall be entitled to all of the
benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder.
Notwithstanding the foregoing provisions of this Section 2.07, in case any mutilated, destroyed,
lost or wrongfully taken Note has become or is about to become due and payable, the Issuer in its
discretion may, instead of issuing a new Note, pay such Notes.

          Section 2.08 Outstanding Notes.

          (a) The Notes outstanding at any time are all the Notes authenticated by the Trustee except
for those cancelled by it, those delivered to it for cancellation, those reductions in the interest
in a Global Note effected by the Trustee in accordance with the provisions hereof, and those
described in this Section 2.08 as not outstanding. Except as set forth in Section 2.09, a Note
does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Note;
provided that Notes held by the Issuer or a Subsidiary of the Issuer will not be deemed to be
outstanding for purposes of Section 3.07(b).

          (b) If a Note is replaced or paid pursuant to Section 2.07, it ceases to be outstanding unless
the Trustee receives proof satisfactory to it that the replaced Note is held by a protected
purchaser, as such term is defined in Section 8-303 of the Uniform Commercial Code in effect in the
State of New York.

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          (c) If the principal amount of any Note is considered paid under Section 4.01, it ceases to be
outstanding and interest on it ceases to accrue from and after the date of such payment.

          (d) If a Paying Agent (other than the Issuer, a Subsidiary or an Affiliate of any thereof)
holds, on the maturity date, any redemption date or any date of purchase pursuant to an Offer to
Purchase, money sufficient to pay Notes payable or to be redeemed or purchased on that date, then
on and after that date such Notes shall be deemed to be no longer outstanding and shall cease to
accrue interest.

          Section 2.09 Treasury Notes.

          In determining whether the Holders of the requisite principal amount of Notes have concurred
in any direction, waiver or consent, Notes owned by the Issuer, or by any Affiliate of the Issuer,
shall be considered as though not outstanding, except that for the purposes of determining whether
the Trustee shall be protected in conclusively relying on any such direction, waiver or consent,
only Notes that a Responsible Officer of the Trustee actually knows are so owned shall be so
disregarded. Notes so owned which have been pledged in good faith shall not be disregarded if the
pledgee establishes to the satisfaction of the Trustee the pledgee’s right to deliver any such
direction, waiver or consent with respect to the Notes and that the pledgee is not the Issuer or
any obligor upon the Notes or any Affiliate of the Issuer or of such other obligor.
Notwithstanding the foregoing, Notes that are to be acquired by the Issuer or an Affiliate of the
Issuer pursuant to an exchange offer, tender offer or other agreement shall not be deemed to be
owned by such entity until legal title to such Notes passes to such entity.

          Section 2.10 Temporary Notes.

          Until definitive Notes are ready for delivery, the Issuer may prepare and the Trustee, upon
receipt of an Authentication Order, shall authenticate temporary Notes. Temporary Notes shall be
substantially in the form of definitive Notes but may have variations that the Issuer
considers appropriate for temporary Notes and as shall be reasonably acceptable to the Trustee.
Without unreasonable delay, the Issuer shall prepare and the Trustee shall authenticate definitive
Notes in exchange for temporary Notes. Holders and beneficial holders, as the case may be, of
temporary Notes shall be entitled to all of the benefits accorded to Holders, or beneficial
holders, respectively, of Notes under this Indenture.

          Section 2.11 Cancellation.

          The Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and
Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of
transfer, exchange or payment. The Trustee or, at the direction of the Trustee, the Registrar or
Paying Agent, and no one else, shall cancel all Notes surrendered for registration of transfer,
exchange, payment, replacement or cancellation and shall dispose of cancelled Notes in accordance
with its customary procedures (subject to the record retention requirement of the Exchange Act).
Certification of the disposition of all cancelled Notes shall, upon the written request of the
Issuer, be delivered to the Issuer. The Issuer may not issue new Notes to replace Notes that it
has paid or that have been delivered to the Trustee for cancellation.

          Section 2.12 Defaulted Interest.

          (a) If the Issuer defaults in a payment of interest on the Notes, it shall pay the defaulted
interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted
interest, to the Persons who are Holders on a subsequent special record date, in each case at the
rate provided in

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the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing of
the amount of defaulted interest proposed to be paid on each Note and the date of the proposed
payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to
the aggregate amount proposed to be paid in respect of such defaulted interest or shall make
arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the Persons entitled to
such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be
fixed each such special record date and payment date; provided that no such special record date
shall be less than 10 days prior to the related payment date for such defaulted interest. The
Issuer shall promptly notify the Trustee of such special record date. At least 15 days before the
special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the
name and at the expense of the Issuer) shall mail, or cause to be mailed to each Holder a notice
that states the special record date, the related payment date and the amount of such interest to be
paid.

          (b) Subject to the foregoing provisions of this Section 2.12 and for greater certainty, each
Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu
of any other Note shall carry the rights to interest accrued and unpaid, and to accrue interest,
which were carried by such other Note.

          Section 2.13 CUSIP and ISIN Numbers.

          The Issuer in issuing the Notes may use CUSIP and/or ISIN numbers (if then generally in use)
and, if so, the Trustee shall use CUSIP and/or ISIN numbers in notices of redemption or exchange or
in Offers to Purchase as a convenience to Holders; provided that any such notice may state that no
representation is made as to the correctness of such numbers either as printed on the Notes or as
contained in any notice of redemption or exchange or in Offers to Purchase and that reliance may be
placed only on the other identification numbers printed on the Notes, and any such redemption or
exchange or Offer to Purchase shall not be affected by any defect in or omission of such numbers.
The Issuer shall as promptly as practicable notify the Trustee in writing of any change in the
CUSIP or ISIN numbers.

ARTICLE 3

REDEMPTION

          Section 3.01 Notices to Trustee.

          If the Issuer elects to redeem Notes pursuant to Section 3.07, it shall furnish to the
Trustee, at least fifteen Business Days before notice of redemption is required to be mailed or
caused to be mailed to Holders pursuant to Section 3.03 (unless a shorter notice shall be agreed to
by the Trustee) but not more than 60 days before a redemption date, an Officers’ Certificate
setting forth (1) the paragraph or subparagraph of such Note and/or Section of this Indenture
pursuant to which the redemption shall occur, (2) the redemption date, (3) the principal amount of
the Notes to be redeemed and (4) the redemption price, if then ascertainable. If any such
redemption is subject to compliance with a condition provided for herein, such Officers’
Certificate shall certify that such condition has been complied with or, in the case of a
redemption under Section 3.07(b), shall certify, if such is the case, any conditions to be complied
with prior to the redemption date. If any such future conditions are not so complied with, the
Issuer shall give the Trustee prompt notice of such non-compliance, after which the Trustee shall
give notice to the Holders in the same manner as the related notice of redemption was given that
such conditions have not been complied with and that the redemption shall not occur.

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          Section 3.02 Selection of Notes to Be Redeemed or Purchased.

          (a) If less than all of the Notes are to be redeemed pursuant to Section 3.07 or purchased in
an Offer to Purchase at any time, the Trustee shall select the Notes to be redeemed or purchased in
compliance with the requirements of the principal national securities exchange, if any, on which
the Notes are listed or, if the Notes are not listed, then on a pro rata basis, by lot or by such
similar method in accordance with the procedures of the Depositary in the case of Global Notes. In
the event of partial redemption or purchase, the particular Notes to be redeemed or purchased shall
be selected, unless otherwise provided herein, not less than 30 nor more than 60 days prior to the
redemption date by the Trustee from the then outstanding Notes not previously called for redemption
or purchase.

          (b) The Trustee shall promptly notify the Issuer in writing of the Notes selected for
redemption or purchase and, in the case of any Note selected for partial redemption or purchase,
the principal amount thereof to be redeemed or purchased. Notes and portions of Notes selected
shall be in whole multiples of $1,000; no Notes of $2,000 or less shall be redeemed in part, except
that if all of the Notes of a Holder are to be redeemed or purchased, the entire outstanding amount
of Notes held by such
Holder, even if not $2,000 or a multiple of $1,000 in excess thereof, shall be redeemed or
purchased. Except as provided in the preceding sentence, provisions of this Indenture that apply
to Notes called for redemption or purchase also apply to portions of Notes called for redemption or
purchase.

          Section 3.03 Notice of Redemption.

          (a) Subject to Section 3.09, the Issuer shall mail by first-class, or cause to be mailed by
first-class (or, in the case of Notes held in book-entry form, by electronic transmission), at the
expense of the Issuer, notices of redemption of Notes at least 30 days but not more than 60 days
before the redemption date to each Holder whose Notes are to be redeemed at such Holder’s
registered address or otherwise in accordance with the procedures of the Depositary, except that
redemption notices may be mailed more than 60 days prior to a redemption date if the notice is
issued in connection with Article 8 or Article 12. Except as set forth in Section 3.07(b), notices
of redemption may not be conditional.

          (b) The notice shall identify the Notes (including CUSIP number) to be redeemed and shall
state:

     (1) the redemption date;

     (2) the redemption price, including the portion thereof representing any accrued and
unpaid interest; provided, that in connection with a redemption under Section 3.07(a), the
notice need not set forth the redemption price but only the manner of calculation thereof;

     (3) if any Note is to be redeemed in part only, the portion of the principal amount of
that Note that is to be redeemed;

     (4) the name and address of the Paying Agent;

     (5) that Notes called for redemption must be surrendered to the Paying Agent to collect
the redemption price;

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     (6) that, unless the Issuer defaults in making such redemption payment or the Paying
Agent is prohibited from making such payment pursuant to the terms of this Indenture,
interest on Notes called for redemption ceases to accrue on and after the redemption date;

     (7) the paragraph or subparagraph of the Notes and/or Section of this Indenture
pursuant to which the Notes called for redemption are being redeemed and, in case of a
redemption under Section 3.07(b), any conditions to such redemption; and

     (8) that no representation is made as to the correctness or accuracy of the CUSIP or
ISIN number, if any, listed in such notice or printed on the Notes.

          (c) At the Issuer’s written request, the Trustee shall give the notice of redemption in the
Issuer’s name and at the Issuer’s expense; provided that the Issuer shall have delivered to the
Trustee, at least fifteen Business Days before notice of redemption is required to be sent or
caused to be sent to Holders pursuant to this Section 3.03 (unless a shorter notice shall be agreed
to by the Trustee), an
Officers’ Certificate requesting that the Trustee give such notice and setting forth the
information to be stated in such notice as provided in the preceding paragraph.

          Section 3.04 Effect of Notice of Redemption.

          Once notice of redemption is mailed in accordance with Section 3.03, Notes called for
redemption become irrevocably due and payable on the redemption date at the redemption price
(except as provided for in Section 3.07(b)). The notice, if mailed in a manner herein provided,
shall be conclusively presumed to have been given, whether or not the Holder receives such notice.
In any case, failure to give such notice or any defect in the notice to the Holder of any Note
designated for redemption in whole or in part shall not affect the validity of the proceedings for
the redemption of any other Note. Subject to Section 3.05, on and after the redemption date,
interest ceases to accrue on Notes or portions of Notes called for redemption.

          Section 3.05 Deposit of Redemption or Purchase Price.

          (a) No later than 11:00 a.m. (New York City time) on the redemption or purchase date, the
Issuer shall deposit with the Trustee or with the Paying Agent money sufficient to pay the
redemption or purchase price of and accrued and unpaid interest on all Notes to be redeemed or
purchased on that date, subject to the right of Holders of record on the relevant Record Date to
receive interest due on an Interest Payment Date falling on or prior to the redemption or purchase
date. The Paying Agent shall promptly pay to each Holder of Notes to be redeemed or repurchased
the applicable redemption or purchase price thereof and accrued and unpaid interest thereon. The
Trustee or the Paying Agent shall promptly return to the Issuer any money deposited with the
Trustee or the Paying Agent by the Issuer in excess of the amounts necessary to pay the redemption
or purchase price of, and accrued and unpaid interest on, all Notes to be redeemed or purchased.

          (b) If the Issuer complies with the provisions of Section 3.05(a), on and after the redemption
or purchase date, interest shall cease to accrue on the Notes or the portions of Notes called for
redemption or purchase. If any Note called for redemption or purchase shall not be so paid upon
surrender for redemption or purchase because of the failure of the Issuer to comply with Section
3.05(a), interest shall be paid on the unpaid principal, from the redemption or purchase date until
such principal is paid, and to the extent lawful on any interest accrued to the redemption or
purchase date not paid on such unpaid principal, in each case at the rate provided in the Notes and
in Section 4.01.

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          Section 3.06 Notes Redeemed or Purchased in Part.

          Upon surrender of a Note that is redeemed or purchased in part, the Issuer shall issue and,
upon receipt of an Authentication Order, the Trustee shall promptly authenticate and mail to the
Holder (or cause to be transferred by book entry) at the expense of the Issuer a new Note equal in
principal amount to the unredeemed or unpurchased portion of the Note surrendered representing the
same Indebtedness to the extent not redeemed or purchased; provided that each new Note shall be in
a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. It is understood
that,
notwithstanding anything in this Indenture to the contrary, only an Authentication Order and
not an Opinion of Counsel or Officers’ Certificate is required for the Trustee to authenticate such
new Note.

          Section 3.07 Optional Redemption.

          (a) At any time prior to October 15, 2013, upon not less than 30 nor more than 60 days’ prior
notice sent by electronic transmission (for Notes held in book entry form) or mailed by first-class
mail to each Holder’s registered address, the Issuer may redeem the Notes, in whole but not in
part, at a redemption price equal to 100% of the principal amount of the Notes plus the Applicable
Premium and accrued and unpaid interest, if any, to the date of redemption, subject to the rights
of Holders of record on the relevant Record Date to receive interest due on the relevant Interest
Payment Date. Promptly after the determination thereof, the Issuer shall give the Trustee written
notice of the redemption price provided for in this Section 3.07(a), and the Trustee shall not be
responsible for such calculation.

          (b) Prior to October 15, 2013, the Issuer may, at its option, on any one or more occasions,
redeem up to 35% of the original principal amount of the Notes (calculated after giving effect to
any issuance of Additional Notes) with the Net Cash Proceeds of one or more Equity Offerings at a
redemption price equal to 110.75% of the aggregate principal amount thereof, plus accrued and
unpaid interest, if any, thereon to the applicable redemption date, subject to the right of Holders
of record on the relevant Record Date to receive interest due on the relevant Interest Payment
Date; provided that (1) at least 65% of the original principal amount of Notes (calculated after
giving effect to any issuance of Additional Notes) remains outstanding after each such redemption;
and (2) such redemption occurs within 60 days of the date of closing of each such Equity Offering.

          (c) Except pursuant to clause (a), (b) or (e) of this Section 3.07, the Notes shall not be
redeemable at the Issuer’s option prior to October 15, 2013.

          (d) On and after October 15, 2013, the Issuer may redeem all or, from time to time, a part of
the Notes upon not less than 30 nor more than 60 days’ notice sent by electronic transmission (for
Notes held in book entry form) or mailed by first-class mail to each Holder’s registered address
pursuant to Section 3.03 at the following redemption prices (expressed as a percentage of principal
amount of the Notes to be redeemed), plus accrued and unpaid interest on the Notes, if any, to the
applicable redemption date, subject to the right of Holders of record on the relevant Record Date
to receive interest due on the relevant Interest Payment Date, if redeemed during the twelve-month
period beginning on October 15 of the years indicated below:

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	Year	 	Percentage
	2013
	 	 	108.063	%
	2014
	 	 	105.375	%
	2015
	 	 	102.688	%
	2016 and thereafter
	 	 	100.000	%

          (e) At any time and from time to time during each of the 12-month periods commencing on
October 15, in each of 2010, 2011 and 2012, the Issuer may redeem up to 10% of the original
aggregate principal amount of the Notes (calculated after giving effect to any issuance of
Additional Notes) at a redemption price equal to 103.000% of the aggregate principal amount
thereof, plus accrued and unpaid and Additional Interest, if any, to the redemption date (subject
to the right of the
Holders of record on the relevant Record Date to receive interest due on the relevant Interest
Payment Date); provided, however, that notice of any such redemption must be mailed to each Holder
of Notes being redeemed not less than 30 or more than 60 days prior to the redemption date and
otherwise in accordance with the procedures set forth in Section 3.03 of this Indenture.

          (f) If the redemption date pursuant to this Section 3.07 is on or after an interest Record
Date and on or before the related Interest Payment Date, the accrued and unpaid interest, if any,
will be paid to the Person in whose name the Note is registered at the close of business, on such
Record Date, and no additional interest will be payable to Holders whose Notes will be subject to
redemption by the Issuer. Additional Interest, if any, shall be payable to Holders whose Notes are
subject to redemption by the Issuer.

          (g) Any notice of redemption may be given prior to the completion thereof, and may, at the
Issuer’s discretion, be subject to one or more conditions precedent, including, but not limited to,
completion of a related Equity Offering. Any redemption pursuant to this Section 3.07 shall be made
pursuant to the provisions of Sections 3.01 through 3.06.

          (h) The Issuer or its Affiliates may acquire Notes by means other than a redemption, whether
by tender offer, open market purchases, negotiated transactions or otherwise, in accordance with
applicable securities laws, so long as such acquisition does not otherwise violate the terms of
this Indenture.

          Section 3.08 Mandatory Redemption.

          The Issuer shall not be required to make mandatory redemption or sinking fund payments with
respect to the Notes.

          Section 3.09 Offers to Repurchase by Application of Excess Proceeds.

          (a) In the event that, pursuant to Section 4.10, the Issuer shall be required to commence an
Asset Sale Offer, the Issuer shall follow the procedures specified below.

          (b) The Asset Sale Offer shall commence no later than 15 Business Days after the date Excess
Proceeds exceeding $20.0 million are required to be applied by the Issuer to make an Asset Sale
Offer and will remain open for a period of 20 Business Days following its commencement, except to
the extent that a longer period is required by applicable law (the “Asset Sale Offer
Period”). No later than five Business Days after the termination of the Asset Sale Offer
Period (the “Asset Sale Purchase Date”), the Issuer shall purchase the principal amount of
Notes and Pari Passu Notes, required to be purchased

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pursuant to Section 4.10 (the “Asset Sale
Offer Amount”), or, if less than the Asset Sale Offer Amount has been so validly tendered, all
Notes and Pari Passu Notes, validly tendered in response to the Asset Sale Offer, as applicable.
Payment for any Notes so purchased shall be made in the same manner as interest payments are made.

          (c) If the Asset Sale Purchase Date is on or after an interest Record Date and on or before
the related Interest Payment Date, any accrued and unpaid interest will be paid on such Asset Sale
Purchase Date to the Person in whose name a Note is registered at the close of business on
such Record Date, and no additional interest will be payable to Holders who tender Notes pursuant
to the Asset Sale Offer.

          (d) Upon the commencement of an Asset Sale Offer, the Issuer shall mail a notice (or, in the
case of Global Notes, otherwise communicate in accordance with the procedures of the Depositary) to
each of the Holders, with a copy to the Trustee. The notice shall contain all instructions and
materials necessary to enable such Holders to tender Notes pursuant to the Asset Sale Offer. The
Asset Sale Offer shall be made to all Holders and, if required, all holders of Pari Passu Notes.
The notice, which shall govern the terms of the Asset Sale Offer, shall state:

     (1) that the offer is being made pursuant to this Section 3.09 and Section 4.10 and the
length of time the offer shall remain open;

     (2) the Asset Sale Offer Amount, the purchase price, including the portion thereof
representing any accrued and unpaid interest, and the Asset Sale Purchase Date;

     (3) that any Note not properly tendered or accepted for payment shall continue to
accrue interest;

     (4) that, unless the Issuer defaults in making such payment, any Note accepted for
payment pursuant to the Asset Sale Offer will cease to accrue interest on and after the
Asset Sale Purchase Date;

     (5) that Holders electing to have a Note purchased pursuant to an Asset Sale Offer may
elect to have Notes purchased only in a principal amount of $2,000 or in an integral
multiple of $1,000 in excess thereof;

     (6) that Holders electing to have a Note purchased pursuant to any Asset Sale Offer
shall be required to surrender the Note, with the form entitled “Option of Holder to Elect
Purchase” attached to the Note completed, or transfer by book-entry transfer, to the Issuer,
the Depositary, if appointed by the Issuer, or a Paying Agent at the address specified in
the notice prior to the close of business on the third Business Day preceding the Asset Sale
Purchase Date;

     (7) that Holders shall be entitled to withdraw their election if the Issuer, the
Depositary or the Paying Agent, as the case may be, receives at the address specified in the
notice, not later than the expiration of the Asset Sale Offer Period, a facsimile
transmission, letter or other form of notification acceptable to the Issuer, the Paying
Agent and, if applicable, the Depositary setting forth the name of the Holder, the principal
amount of the Notes the Holder tendered for purchase and a statement that such Holder is
withdrawing its tendered Notes and its election to have such Note purchased; and

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     (8) that, if the aggregate principal amount of Notes and Pari Passu Notes, surrendered
by the holders thereof exceeds the Asset Sale Offer Amount, then the Notes and such Pari
Passu Notes shall be purchased on a pro rata basis based on the aggregate principal amount
of the Notes or such Pari Passu Notes tendered and the selection of the Notes for purchase
shall be made by the Trustee on a pro rata basis to the extent practicable, or to the extent
that election on a pro rata basis is not practicable, by lot or another method in accordance
with the procedures
of the Depositary, although no Note having a principal amount of $2,000 shall be
purchased in part.

          (e) On or before the Asset Sale Purchase Date, the Issuer shall, to the extent lawful, accept
for payment, on a pro rata basis to the extent necessary, the Asset Sale Offer Amount of Notes and
Pari Passu Notes, or portions thereof validly tendered and not properly withdrawn pursuant to the
offer, or if less than the Asset Sale Offer Amount has been validly tendered and not properly
withdrawn, all Notes and Pari Passu Notes so validly tendered and not properly withdrawn, in the
case of the Notes in principal amounts of $2,000 or an integral multiple of $1,000 in excess
thereof; provided that if, following repurchase of a portion of a Note, the remaining principal
amount of such Note outstanding immediately after such repurchase is not in a principal amount of
$2,000 or an integral multiple of $1,000 in excess thereof, then the portion of such Note so
repurchased shall be reduced by the minimum amount such that the remaining principal amount of such
Note outstanding immediately after such repurchase is $2,000 or an integral multiple of $1,000 in
excess thereof. The Issuer shall deliver or cause to be delivered to the Trustee the Notes so
accepted and an Officers’ Certificate stating the aggregate principal amount of Notes or portions
thereof so accepted and that such Notes or portions thereof were accepted for payment by the Issuer
in accordance with the terms of this Section 3.09. In addition, the Issuer shall deliver all
certificates and Notes required, if any, by the agreements governing the Pari Passu Notes.

          (f) The Paying Agent or the Issuer, as the case may be, shall promptly, but in no event later
than five Business Days after termination of the Asset Sale Offer Period, mail or deliver to each
tendering Holder or lender of Pari Passu Notes, an amount equal to the purchase price of the Notes
or the Pari Passu Notes so validly tendered and not withdrawn by such Holder or lender, as the case
may be, and accepted by the Issuer for purchase, and the Issuer shall promptly issue a new Note,
and the Trustee, upon receipt of an Authentication Order, shall authenticate and mail or deliver
(or cause to be transferred by book-entry) such new Note to such Holder (it being understood that,
notwithstanding anything in this Indenture to the contrary, no Opinion of Counsel or Officers’
Certificate is required for the Trustee to authenticate and mail or deliver such new Note) in a
principal amount equal to any unpurchased portion of the Note surrendered representing the same
Indebtedness to the extent not repurchased; provided that each such new Note shall be in a
principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. In addition, the
Issuer shall take any and all other actions required by the agreements governing the Pari Passu
Notes. Any Note not so accepted shall be promptly mailed or delivered by the Issuer to the Holder
thereof. The Issuer shall publicly announce the results of the Asset Sale Offer on or as soon as
practicable after the Asset Sale Purchase Date.

          Other than as specifically provided in this Section 3.09 or Section 4.10, any purchase
pursuant to this Section 3.09 shall be made pursuant to the applicable provisions of Sections 3.01
through 3.06.

          (g) The Issuer will comply, to the extent applicable, with the requirements of Rule 14e-1
under the Exchange Act and any other securities laws or regulations in connection with the
repurchase of Notes pursuant to this Indenture. To the extent that the provisions of any securities
laws or regulations conflict with provisions of this Section 3.09, the Issuer will comply with the
applicable

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securities laws and regulations and will not be deemed to have breached its obligations
under this Indenture by virtue of such conflict.

ARTICLE 4

COVENANTS

          Section 4.01 Payment of Notes.

          (a) The Issuer shall pay or cause to be paid the principal of, premium, if any, and interest
on the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and
interest shall be considered paid on the date due if the Paying Agent, if other than one of the
Issuer or a Subsidiary, holds as of 11:00 a.m. (New York City time), on the due date, money
deposited by the Issuer in immediately available funds and designated for and sufficient to pay the
principal of, premium, if any, and interest then due.

          (b) The Issuer shall pay interest (including post-petition interest in any proceeding under
any Bankruptcy Law) on overdue principal and premium, if any, at the rate equal to the then
applicable interest rate on the Notes to the extent lawful; it shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest (without regard to any applicable grace period) at the same rate to the extent lawful.

          Section 4.02 Maintenance of Office or Agency.

          The Issuer shall maintain an office or agency (which may be an office of the Trustee or an
affiliate of the Trustee, Registrar or co-registrar) where Notes may be surrendered for
registration of transfer or for exchange and where notices and demands to or upon the Issuer and
the Guarantors in respect of the Notes and this Indenture may be served. The Issuer shall give
prompt written notice to the Trustee of the location, and any change in the location, of such
office or agency. If at any time the Issuer shall fail to maintain any such required office or
agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee.

          The Issuer may also from time to time designate additional offices or agencies where the Notes
may be presented or surrendered for any or all such purposes and may from time to time rescind such
designations. The Issuer shall give prompt written notice to the Trustee of any such designation
or rescission and of any change in the location of any such other office or agency.

          The Issuer hereby designates the office of the Trustee in Minneapolis, Minnesota, as one such
office or agency of the Issuer in accordance with Section 2.03, with an address (as of the date of
this Indenture) at Wells Fargo Bank, N.A., Corporate Trust Operations, N9301-121, 608 2nd Avenue S,
12th floor, Minneapolis, MN 55402.

          Section 4.03 Reports and Other Information.

          (a) Notwithstanding that the Issuer may not be required to be or remain subject to the
reporting requirements of Section 13(a) or 15(d) of the Exchange Act, the Issuer will file with the
SEC (unless such filing is not permitted under the Exchange Act or by the SEC), so long as the
Notes are
outstanding, the annual reports, information, documents and other reports that the Issuer is
required to file

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with the SEC pursuant to such Section 13(a) or 15(d) or would be so required to
file if the Issuer were so subject. The Issuer will also, within 15 days after the date on which
the Issuer was so required to file or would be so required to file if the Issuer were so subject,
transmit by mail to all Holders, as their names and addresses appear in the Note Register, and to
the Trustee (or make available on a website which may be non public and may be maintained by the
Issuer or a third party, provided, however, that the Trustee shall have no obligation to determine
whether or not such information, documents or reports have been filed pursuant to the “EDGAR”
system (or its successor)) copies of any such information, documents and reports (without exhibits)
so required or would be so required to be filed.

          (b) Within two Business Days of transmitting such reports, information and documents to the
Holders and the Trustee pursuant Section 4.03(a), the Issuer shall also post copies of such
reports, information and documents required by Section 4.03(a) on a website (which may be nonpublic
and may be maintained by the Issuer or a third party, including the SEC) to which access will be
given to Holders, prospective investors in the Notes (which prospective investors shall be limited
to “qualified institutional buyers” within the meaning of Rule 144A of the Securities Act or
non-U.S. persons (as defined in Regulation S under the Securities Act) that certify their status as
such to the reasonable satisfaction of the Issuer), and securities analysts and market making
financial institutions that are reasonably satisfactory to the Issuer. The Issuer shall hold
quarterly conference calls that are publicly accessible after the Issuer’s financial statements for
the prior fiscal period have been made available in accordance with Section 4.03(a), provided that
such conference calls shall be held no later than five Business Days after the date that such
financial statements are made available. No fewer than three Business Days prior to the date of the
conference call required to be held in accordance with the preceding sentence, the Issuer shall
issue a press release to the appropriate U.S. wire services announcing the time and the date of
such conference call and directing the beneficial owners of, and prospective investors in, the
Notes and securities analysts to contact an individual at the Issuer (for whom contact information
shall be provided in such press release) to obtain information on how to access such conference
call. Notwithstanding any provision in this Indenture to the contrary, the failure to comply with
the requirements of this Section 4.03(b) with respect to any fiscal period will not constitute a
Default or an Event of Default unless such failure continues for a period of 90 days after the date
when the report for such fiscal period was required to be made available in accordance with Section
4.03(a).

          (c) The Issuer and the Guarantors will make available to the Holders and to prospective
investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4)
under the Securities Act so long as the Notes are not freely transferable under the Securities Act.

          (d) The Issuer will be deemed to have satisfied the requirements of Section 4.03(a) if
Holdings files and provides reports, information and documents of the types otherwise so required,
in each case within the applicable time periods, and the Issuer is not required to file such
reports, information and documents separately under the applicable rules and regulations of the SEC
(after giving effect to any exemptive relief) because of the filings by Holdings; provided that
such financial statements are accompanied by consolidating financial information for Holdings, the
Issuer, the Subsidiary Guarantors and the Subsidiaries of the Issuer that are not Guarantors in the
manner prescribed by the SEC to the extent such financial information would be required by the SEC.
The Issuer will be deemed to have satisfied the requirements of Section 4.03(b) if Holdings
complies with such requirements with respect to its reports, information and documents.

          (e) The Issuer shall comply with the provisions of Trust Indenture Act Section 314(a).

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          (f) Delivery of such reports, information and documents to the Trustee is for
informational purposes only and the Trustee’s receipt of such shall not constitute constructive
notice of any information contained therein or determinable from information contained therein,
including the Issuer’s compliance with any of its covenants hereunder (as to which the Trustee is
entitled to rely exclusively on Officers’ Certificates).

          Section 4.04 Compliance Certificate.

          (a) The Issuer shall deliver to the Trustee, within 120 days after the end of each fiscal
year, a certificate from the principal executive officer, principal financial officer or principal
accounting officer stating that a review of the activities of the Issuer and its Restricted
Subsidiaries during the preceding fiscal year has been made under the supervision of the signing
Officer with a view to determining whether the Issuer and each Guarantor have kept, observed,
performed and fulfilled their obligations under this Indenture, and further stating, as to such
Officer signing such certificate, that to the best of his or her knowledge, the Issuer and each
Guarantor have kept, observed, performed and fulfilled each and every condition and covenant
contained in this Indenture and is not in default in the performance or observance of any of the
terms, provisions, covenants and conditions of this Indenture (or, if a Default shall have
occurred, describing all such Defaults of which he or she may have knowledge and what action the
Issuer and the Guarantor are taking or propose to take with respect thereto).

          (b) The Issuer shall promptly (which shall be no more than 30 days following the date on which
the Issuer becomes aware of any event which would constitute a Default) send to the Trustee an
Officers’ Certificate specifying such event, its status and what action the Issuer is taking or
proposes to take with respect thereto.

          Section 4.05 [Intentionally Omitted].

          Section 4.06 Stay, Extension and Usury Laws.

          The Issuer and each Guarantor covenants (to the extent that it may lawfully do so) that it
shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or
advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in
force, that may affect the covenants or the performance of this Indenture; and the Issuer and each
Guarantor (to the extent that it may lawfully do so) hereby expressly waives all benefit or
advantage of any such law, and covenants that it shall not, by resort to any such law, hinder,
delay or impede the execution of any power herein granted to the Trustee or the Collateral Agent,
but shall suffer and permit the execution of every such power as though no such law has been
enacted.

          Section 4.07 Limitation on Restricted Payments.

          (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries, directly or
indirectly, to:

     (1) declare or pay any dividend or make any distribution (whether made in cash,
securities or other property) on or in respect of its or any of its Restricted Subsidiaries’
Capital Stock (including any payment in connection with any merger or consolidation, other
than the Merger, involving the Issuer or any of its Restricted Subsidiaries) other than:

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     (a) dividends or distributions payable solely in Capital Stock of the Issuer
(other than Disqualified Stock); and

     (b) dividends or distributions by a Restricted Subsidiary payable to the Issuer
or another Restricted Subsidiary (and if such Restricted Subsidiary is not a Wholly
Owned Subsidiary, to its other holders of common Capital Stock on a pro rata basis);

     (2) purchase, redeem, retire or otherwise acquire for value, including in connection
with any merger or consolidation, any Capital Stock of the Issuer or any direct or indirect
parent entity held by Persons other than the Issuer or a Restricted Subsidiary (other than
in exchange for Capital Stock of the Issuer (other than Disqualified Stock));

     (3) make any principal payment on, or purchase, repurchase, redeem, defease or
otherwise acquire or retire for value, prior to any scheduled maturity, scheduled repayment
or scheduled sinking fund payment, any Junior Lien Obligations, Senior Unsecured Pari Passu
Indebtedness, Subordinated Obligations or Guarantor Subordinated Obligations, other than:

     (a) Indebtedness of the Issuer owing to and held by any Subsidiary Guarantor or
Indebtedness of a Subsidiary Guarantor owing to and held by the Issuer or any other
Subsidiary Guarantor permitted under Section 4.09(b)(5); or

     (b) the purchase, repurchase, redemption, defeasance or other acquisition or
retirement of Junior Lien Obligations, Senior Unsecured Pari Passu Indebtedness,
Subordinated Obligations or Guarantor Subordinated Obligations purchased in
anticipation of satisfying a sinking fund obligation, principal installment or final
maturity, in each case due within one year of the date of purchase, repurchase,
redemption, defeasance or other acquisition or retirement); or

     (4) make any Restricted Investment;

(all such payments and other actions referred to in clauses (1) through (4) (other than any
exception thereto) shall be referred to as a “Restricted Payment”);

provided, that cancellation of Indebtedness owing to the Issuer or any Restricted Subsidiary
from any present or former employees, members of management or consultants of the Issuer,
any Restricted Subsidiary or any direct or indirect parent entity in connection with a
repurchase of Capital Stock of the Issuer or any such direct or indirect parent entity will
not be deemed to constitute a Restricted Payment for purposes of this Section 4.07 or any
other provision of this Indenture;

unless, at the time of and after giving effect to such Restricted Payment:

     (A) no Default shall have occurred and be continuing (or would result
therefrom);

     (B) immediately after giving effect to such transaction on a pro forma basis,
the Issuer is able to Incur $1.00 of additional Indebtedness under Section 4.09(a);
and

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     (C) the aggregate amount of such Restricted Payment and all other Restricted
Payments declared or made subsequent to the Issue Date (excluding Restricted
Payments made pursuant to clauses (1), (2), (3), (7), (8), (9), (10), (11), (13),
(14), (15), (16) and (17) of Section 4.07(b)) would not exceed the sum of (without
duplication):

          (i) 50% of Consolidated Net Income for the period (treated as one accounting
period) from August 2, 2010 to the end of the most recent fiscal quarter ending
prior to the date of such Restricted Payment for which financial statements are
available (or, in case such Consolidated Net Income is a deficit, minus 100% of such
deficit);

          (ii) 100% of the aggregate Net Cash Proceeds and the fair market value, as
determined in good faith by the Board of Directors of the Issuer, of marketable
securities or other property received by the Issuer from the issue or sale of its
Capital Stock (other than Disqualified Stock) or other capital contributions
subsequent to the Issue Date, other than:

(x) Net Cash Proceeds received from an issuance or sale of
such Capital Stock to a Subsidiary of the Issuer or to an
employee stock ownership plan, option plan or similar trust
to the extent such sale to an employee stock ownership plan
or similar trust is financed by loans from or Guaranteed by
the Issuer or any Restricted Subsidiary unless such loans
have been repaid with cash on or prior to the date of
determination);

(y) Net Cash Proceeds received by the Issuer from the issue
and sale of its Capital Stock or capital contributions to the
extent applied to redeem Notes in compliance with Section
3.07(b); and

(z) Excluded Contributions;

          (iii) the amount by which Indebtedness of the Issuer or its Restricted
Subsidiaries is reduced on the Issuer’s consolidated balance sheet upon the
conversion or exchange (other than debt held by a Subsidiary of the Issuer)
subsequent to the Issue Date of any Indebtedness of the Issuer or its Restricted
Subsidiaries convertible or exchangeable for Capital Stock (other than Disqualified
Stock) of the Issuer (less the amount of any cash, or the fair market value of any
other property, distributed by the Issuer upon such conversion or exchange); and

          (iv) the amount equal to the net reduction in Restricted Investments made by
the Issuer or any of its Restricted Subsidiaries in any Person resulting from:

(x) repurchases or redemptions of such Restricted Investments
by such Person, proceeds realized upon the sale of such
Restricted Investment to any purchaser other than the Issuer
or any of its Subsidiaries, repayments of loans or advances
or other transfers of assets (including by way of dividend or

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distribution) by such Person to the Issuer or any Restricted
Subsidiary (other than for reimbursement of tax payments); or

(y) the redesignation of Unrestricted Subsidiaries as
Restricted Subsidiaries or the merger or consolidation of an
Unrestricted Subsidiary with and into the Issuer or any of
its Restricted Subsidiaries (valued in each case as provided
in the definition of “Investment”) not to exceed the amount
of
Investments previously made by the Issuer or any Restricted
Subsidiary in such Unrestricted Subsidiary;

which amount in each case under this clause (iv) was included in the
calculation of the amount of Restricted Payments; provided, however,
that no amount will be included under this clause (iv) to the extent
it is already included in Consolidated Net Income.

     (b) Section 4.07(a) shall not prohibit:

     (1) any purchase, repurchase, redemption, defeasance or other acquisition or retirement of
Capital Stock, Disqualified Stock, Junior Lien Obligations, Senior Unsecured Pari Passu
Indebtedness or Subordinated Obligations of the Issuer or Guarantor Subordinated Obligations of
any Subsidiary Guarantor made by exchange for, or out of the proceeds of the substantially
concurrent sale of, Capital Stock of the Issuer or any direct or indirect parent entity or
contributions to equity capital of the Issuer (other than Disqualified Stock and other than
Capital Stock issued or sold to a Subsidiary or an employee stock ownership plan or similar
trust to the extent such sale to an employee stock ownership plan or similar trust is financed
by loans from or Guaranteed by the Issuer or any Restricted Subsidiary unless such loans have
been repaid with cash on or prior to the date of determination); provided, however, that the Net
Cash Proceeds from such sale of Capital Stock will be excluded from clause (C)(ii) of the
preceding paragraph;

     (2) any purchase, repurchase, redemption, defeasance or other acquisition or retirement (A)
of Junior Lien Obligations, Senior Unsecured Pari Passu Indebtedness or Subordinated Obligations
of the Issuer or Guarantor Subordinated Obligations of any Subsidiary Guarantor made by exchange
for, or out of the proceeds of the substantially concurrent sale of, Subordinated Obligations of
the Issuer or (B) of Guarantor Subordinated Obligations made by exchange for or out of the
proceeds of the substantially concurrent sale of Guarantor Subordinated Obligations or (C) of
Junior Lien Obligations of the Issuer made by exchange for, or out of the proceeds of the
substantially concurrent sale of Junior Lien Obligations of the Issuer or Senior Unsecured Pari
Passu Indebtedness of the Issuer or (D) of Junior Lien Obligations of a Subsidiary Guarantor
made by exchange for or out of the proceeds of the substantially concurrent sale of Junior Lien
Obligations or Senior Unsecured Pari Passu Indebtedness of the Issuer or such Subsidiary
Guarantor or Guarantor Subordinated Obligations of such Subsidiary Guarantor or (E) of Senior
Unsecured Pari Passu Indebtedness of the Issuer made by exchange for, or out of the proceeds of
the substantially concurrent sale of Senior Unsecured Pari Passu Indebtedness of the Issuer or
(F) of Senior Unsecured Pari Passu Indebtedness of a Subsidiary Guarantor made by exchange for,
or out of the proceeds of the substantially concurrent sale of Senior Unsecured Pari Passu
Indebtedness of the Issuer or such Subsidiary Guarantor or Guarantor Subordinated Obligations of
such Subsidiary Guarantor that, in each case, is permitted to be Incurred pursuant to Section
4.09 and that in each case constitutes Refinancing Indebtedness;

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     (3) any purchase, repurchase, redemption, defeasance or other acquisition or retirement of
Disqualified Stock of the Issuer or a Restricted Subsidiary made by exchange for or out of the
proceeds of the substantially concurrent sale of Disqualified Stock of the Issuer or such
Restricted Subsidiary, as the case may be, so long as such refinancing Disqualified Stock is
permitted to be Incurred pursuant to Section 4.09 and constitutes Refinancing Indebtedness;

     (4) the purchase, repurchase, redemption, defeasance or other acquisition or retirement for
value of any Junior Lien Obligations, Senior Unsecured Pari Passu Indebtedness or Subordinated
Obligation of the Issuer (a) at a purchase price not greater than 101% of the principal amount
thereof in the event of a Change of Control in accordance with provisions similar to Section
4.14 or (b) at a purchase price not greater than 100% of the principal amount thereof in
accordance
with provisions similar to Section 4.10; provided that, prior to or simultaneously with
such purchase, repurchase, redemption, defeasance or other acquisition or retirement, the Issuer
has made the Change of Control Offer or Asset Sale Offer, as applicable, as provided in Section
4.14 or Section 4.10, respectively, with respect to the Notes and has completed the repurchase
or redemption of all Notes validly tendered for payment in connection with such Change of
Control Offer or Asset Sale Offer;

     (5) any purchase or redemption of Junior Lien Obligations, Senior Unsecured Pari Passu
Indebtedness or Subordinated Obligations of the Issuer or Guarantor Subordinated Obligations of
a Subsidiary Guarantor from Net Available Cash to the extent permitted under Section 4.10;

     (6) dividends paid within 60 days after the date of declaration if at such date of
declaration such dividend would have complied with this provision;

     (7) the purchase, redemption or other acquisition, cancellation or retirement for value (or
dividends or distributions in connection therewith) of Capital Stock or equity appreciation
rights of the Issuer or Holdings or any direct or indirect parent entity held by any existing or
former employees, members of management or consultants of the Issuer or Holdings or any
Subsidiary of the Issuer or their assigns, estates or heirs, in each case in connection with the
repurchase provisions under employee stock option or stock purchase agreements or other
agreements to compensate employees, members of management or consultants approved by the Board
of Directors; provided that such Capital Stock or equity appreciation rights were received for
services related to, or for the benefit of, the Issuer and its Restricted Subsidiaries; and
provided further that such redemptions or repurchases pursuant to this clause will not exceed
$3.0 million in the aggregate during any calendar year (with unused amounts in any calendar year
being carried over to the immediately succeeding calendar year), although such amount in any
calendar year may be increased by an amount not to exceed:

     (a) the Net Cash Proceeds from the sale of Capital Stock (other than Disqualified
Stock) of the Issuer and, to the extent contributed to the Issuer, Capital Stock of
Holdings, in each case to existing or former employees, members of management or consultants
of the Issuer, any of its Subsidiaries or Holdings or any direct or indirect parent entity
that occurs after the Issue Date, to the extent the cash proceeds from the sale of such
Capital Stock have not otherwise been applied to the payment of Restricted Payments
(provided that the Net Cash Proceeds from such sales or contributions will be excluded from
clause (C)(ii) of the preceding paragraph); plus

     (b) the cash proceeds of key man life insurance policies received by the Issuer or its
Restricted Subsidiaries after the Issue Date; less

     (c) the amount of any Restricted Payments previously made with the Net Cash Proceeds
described in the clauses (a) and (b) of this clause (7);

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     (8) the declaration and payment of dividends to holders of any class or series of
Disqualified Stock of the Issuer or any Subsidiary Guarantor issued in accordance with the terms
of this Indenture to the extent such dividends are included in the definition of “Consolidated
Interest Expense;”

     (9) repurchases of Capital Stock deemed to occur upon the exercise of stock options,
warrants, other rights to purchase Capital Stock or other convertible securities if such Capital
Stock represents a portion of the exercise price thereof;

     (10) the declaration and payment of cash dividends, distributions, loans, advances or other
transfers by the Issuer to any direct or indirect parent entity in amounts required for such
parent entity to pay, in each case without duplication:

     (a) foreign, federal, state and local taxes, to the extent such taxes are attributable
to the income or business of the Issuer or any of its Restricted Subsidiaries and, to the
extent of the amount actually received from the Issuer’s Unrestricted Subsidiaries, in
amounts required to pay such taxes to the extent attributable to the income or business of
such Unrestricted Subsidiaries; provided that the amount of such payments in any fiscal year
does not exceed the amount that the Issuer, its Restricted Subsidiaries and Unrestricted
Subsidiaries would be required to pay in respect of foreign, federal, state and local taxes
for such fiscal year were the Issuer, its Restricted Subsidiaries and its Unrestricted
Subsidiaries (to the extent described above) to pay such taxes separately from any such
parent entity;

     (b) fees and expenses (including franchise or similar taxes) required to maintain the
corporate existence, customary salary, bonus and other benefits payable to, and indemnities
provided on behalf of, officers and employees of such direct or indirect parent entity, if
applicable, and general corporate overhead expenses of such direct or indirect parent entity
in each case to the extent such fees and expenses are attributable to the ownership or
operation of the Issuer, if applicable, and its Restricted Subsidiaries (provided, that for
so long as such direct or indirect parent entity owns no assets other than the Capital Stock
in the Issuer or another direct or indirect parent entity, such fees and expenses shall be
deemed for purposes of this clause (10) to be so attributable to such ownership or
operation); and

     (c) in amounts required for any direct or indirect parent entity to pay fees and
expenses, other than to Affiliates of the Issuer, related to (i) the maintenance by such
parent entity of its corporate or other entity existence and performance of its obligations
under this Indenture and the Registration Rights Agreement and similar obligations under the
Debt Facility to the extent such obligations are permitted under Section 4.17 and (ii) any
unsuccessful equity or debt offering of such direct or indirect parent entity (the proceeds
of which were to be contributed to the Issuer);

     (11) the distribution, by dividend or otherwise, of shares of Capital Stock of Unrestricted
Subsidiaries (other than Unrestricted Subsidiaries the primary assets of which are cash and/or
Cash Equivalents);

     (12) the declaration and payment of dividends on the Issuer’s Common Stock (or dividends,
distributions or advances to any direct or indirect parent entity to allow such direct or
indirect parent entity to pay dividends on its Common Stock) following the first Equity Offering
of the Issuer’s Common Stock in a registered public offering (or of such direct or indirect
parent entity’s

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Common Stock in a registered public offering, as the case may be) after the
Issue Date, of in the case of the first Equity Offering of the Issuer’s Common Stock to the
public, up to 6% per annum of the Net Cash Proceeds received by the Issuer in such Equity
Offering or in the case of the first Equity Offering of such direct or indirect parent entity’s
Common Stock to the public, up to 6% per annum of the amount contributed by such direct or
indirect parent entity to the Issuer from the Net Cash Proceeds received by such direct or
indirect parent entity in such public offering, in each case, other than public offerings of the
Issuer’s or such direct or indirect parent entity’s Common Stock registered on Form S-4 or S-8;

     (13) any payments made in connection with the Transactions pursuant to the Merger Agreement
and any other agreements or documents related to the Transactions (without giving effect to
subsequent amendments, waivers or other modifications to such agreements or documents) or as
otherwise described in the Offering Memorandum, including any payments or other transfers to
Holdings that are applied (by Holdings or otherwise) to reduce the intercompany loan owed by
Holdings to the Issuer with respect to the proceeds of the Notes (the “Intercompany Loan”);

     (14) Investments that are made in an aggregate amount not to exceed the amount of Excluded
Contributions;

     (15) Restricted Payments by the Issuer or any Restricted Subsidiary to allow the payment of
cash in lieu of the issuance of fractional shares upon the exercise of options or warrants or
upon the conversion or exchange of Capital Stock of any such Person;

     (16) Restricted Payments by the Issuer to any direct or indirect parent entity to finance
any Investment permitted to be made pursuant to this Section 4.07; provided that (i) such
Restricted Payment shall be made concurrently with the closing of such Investment (and no
earlier than one (1) Business Day prior to the closing of such Investment) and (ii) such direct
or indirect parent entity shall, immediately following the closing thereof, cause (a) all
property acquired (whether assets or Capital Stock) to be contributed to the Issuer or a
Restricted Subsidiary or (b) the merger, amalgamation, consolidation or sale of all or
substantially all assets (to the extent permitted pursuant to Article 5 of the person formed or
acquired into the Issuer or a Restricted Subsidiary in order to consummate such acquisition or
Investment; and

     (17) other Restricted Payments in an aggregate amount, which, when taken together with all
other Restricted Payments made pursuant to this clause (17) (as reduced by the amount of capital
returned from any such Restricted Payments that constituted Restricted Investments in the form
of cash and Cash Equivalents (exclusive of items reflected in Consolidated Net Income)) not to
exceed $20.0 million;

provided, however, that at the time of and after giving effect to, any Restricted Payment permitted
under clauses (5), (8), (11), (12) and (17), no Default shall have occurred and be continuing or
would occur as a consequence thereof.

          (c) Notwithstanding anything to the contrary in the foregoing, Restricted Investments of
assets and property constituting Collateral (other than cash and Cash Equivalents) made pursuant to
Section 4.07(a) may only be made in Subsidiary Guarantors.

          (d) The amount of all Restricted Payments (other than cash) will be the fair market value on
the date of such Restricted Payment of the asset(s) or securities proposed to be paid, transferred

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or issued by the Issuer or such Restricted Subsidiary, as the case may be, pursuant to such
Restricted Payment. The fair market value of any cash Restricted Payment shall be its face amount
and any non-cash Restricted Payment shall be determined conclusively by the Board of Directors of
the Issuer acting in good faith whose resolution with respect thereto shall be delivered to the
Trustee, such determination to be based upon an opinion or appraisal issued by an accounting,
appraisal or investment banking firm of national standing if such fair market value is estimated in
good faith by the Board of Directors of the Issuer to exceed $5.0 million. Not later than the date
of making any Restricted Payment, the Issuer shall deliver to the Trustee an Officers’ Certificate
stating that such Restricted Payment is permitted and setting forth the basis upon which the
calculations required by this Section 4.07 were computed, together with a copy of any fairness
opinion or appraisal required by this Indenture.

          (e) As of the Issue Date, all of the Issuer’s Subsidiaries will be Restricted Subsidiaries.
The Issuer will not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except
pursuant to the last sentence of the definition of “Unrestricted Subsidiary.” For purposes of
designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by
the Issuer and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so
designated will be deemed to be Restricted Payments in an amount determined as set forth in the
definition of “Investment.” Such designation will be permitted only if a Restricted Payment in such
amount would be permitted at
such time and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary.
Unrestricted Subsidiaries will not be subject to any of the restrictive covenants set forth in this
Indenture.

          Section 4.08 Limitation on Restrictions on Distribution From Restricted Subsidiaries.

          (a) The Issuer shall not, and shall not permit any Restricted Subsidiary to, directly or
indirectly, create or otherwise cause or permit to exist or become effective any consensual
encumbrance or consensual restriction on the ability of any Restricted Subsidiary to:

     (1) pay dividends or make any other distributions on its Capital Stock to the Issuer or
any of its Restricted Subsidiaries, or with respect to any other interest or participation
in, or measured by, its profits, or pay any Indebtedness or other obligations owed to the
Issuer or any Restricted Subsidiary (it being understood that the priority of any Preferred
Stock in receiving dividends or liquidating distributions prior to dividends or liquidating
distributions being paid on Common Stock shall not be deemed a restriction on the ability to
make distributions on Capital Stock);

     (2) make any loans or advances to the Issuer or any Restricted Subsidiary (it being
understood that the subordination of loans or advances made to the Issuer or any Restricted
Subsidiary to other Indebtedness Incurred by the Issuer or any Restricted Subsidiary shall
not be deemed a restriction on the ability to make loans or advances); or

     (3) sell, lease or transfer any of its property or assets to the Issuer or any
Restricted Subsidiary (it being understood that such transfers shall not include any type of
transfer described in clause (1) or (2) above).

          (b) Section 4.08(a) shall not prohibit encumbrances or restrictions existing under or by
reason of:

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     (a) contractual encumbrances or restrictions pursuant to the Credit Agreement,
the Collateral Documents, the Intercreditor Agreement and related documentation and
other agreements in effect at or entered into on the Issue Date;

     (b) this Indenture, the Notes, the Exchange Notes and the Note Guarantees and
any related documentation in effect or entered into in connection therewith;

     (c) any agreement or other instrument of a Person acquired by the Issuer or any
of its Restricted Subsidiaries in existence at the time of such acquisition (but not
created in contemplation thereof), which encumbrance or restriction is not
applicable to any Person, or the properties or assets of any Person, other than the
Person and its Subsidiaries, or the property or assets of the Person and its
Subsidiaries, so acquired (including after acquired property);

     (d) any amendment, restatement, modification, renewal, supplement, refunding,
replacement or refinancing of an agreement referred to in clauses (a), (b), (c), (f)
or this clause (d) of this Section 4.08(b); provided, however, that such amendments,
restatements, modifications, renewals, supplements, refundings, replacements or
refinancings are, in the good faith judgment of the Issuer, taken as a whole, no
more restrictive than the encumbrances and restrictions contained in the agreements
referred to in clauses (a), (b), (c) or (f) of this Section 4.08(b) on the Issue
Date or the date such
Restricted Subsidiary became a Restricted Subsidiary or was merged into a
Restricted Subsidiary, whichever is applicable;

     (e) in the case of Section 4.08(a)(3), Liens permitted to be Incurred under the
provisions of Section 4.12 that limit the right of the debtor to dispose of the
assets securing such Indebtedness and customary restrictions and conditions
contained in the documents relating to any such Lien;

     (f) purchase money obligations, Sale/Leaseback Transactions and Capitalized
Lease Obligations permitted under this Indenture, in each case, that impose
encumbrances or restrictions of the nature described in Section 4.08(a)(3) on the
property so acquired;

     (g) contracts for the sale of assets, including any restrictions with respect
to a Subsidiary of the Issuer pursuant to an agreement that has been entered into
for the sale of all or a portion of the Capital Stock or assets of such Subsidiary;

     (h) restrictions on cash or other deposits or net worth imposed by customers
under contracts entered into in the ordinary course of business;

     (i) any customary provisions in joint venture agreements relating to joint
ventures that are not Restricted Subsidiaries and other similar agreements entered
into in the ordinary course of business;

     (j) any customary provisions in leases, subleases or licenses and other
agreements entered into by the Issuer or any Restricted Subsidiary in the ordinary
course of business;

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     (k) applicable law or any applicable rule, regulation or order; and

     (l) (x) other Indebtedness Incurred or Preferred Stock issued by the Issuer or
a Subsidiary Guarantor in accordance with Section 4.09 that are, in the good faith
judgment of the Board of Directors of the Issuer, not materially more restrictive,
taken as a whole, than those applicable to the Issuer in this Indenture or the
Credit Agreement on the Issue Date (which results in encumbrances or restrictions
comparable to those applicable to the Issuer at a Restricted Subsidiary level), or
(y) other Indebtedness Incurred or Preferred Stock issued by a Non-Guarantor
Subsidiary, in each case permitted to be Incurred subsequent to the Issue Date
pursuant to the provisions of Section 4.09; provided that with respect to clause
(y), such encumbrances or restrictions will not materially affect the Issuer’s
ability to make anticipated principal and interest payments on the Notes (as
determined in good faith by the Board of Directors of the Issuer).

          Section 4.09 Limitation on Indebtedness.

          (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly
or indirectly, Incur any Indebtedness (including Acquired Indebtedness); provided, however, that
the Issuer and the Subsidiary Guarantors may Incur Indebtedness if on the date thereof and after
giving effect thereto on a pro forma basis, the Consolidated Coverage Ratio for the Issuer and its
Restricted Subsidiaries is at least 2.00 to 1.00.

          (b) Section 4.09(a) shall not prohibit the Incurrence of the following Indebtedness:

     (1) Indebtedness of the Issuer or any Subsidiary Guarantor Incurred under a Debt
Facility and the issuance and creation of letters of credit and bankers’ acceptances
thereunder in an aggregate amount not to exceed the greater of (x) $35.0 million and (y)
20.00% of Consolidated Net Tangible Assets, less the aggregate principal amount of all
principal repayments with the proceeds from Asset Sales made pursuant to clause (b) of the
second paragraph of Section 4.10(1) or Section 4.10(2)(d)(A);

     (2) Indebtedness represented by the Notes (including any Note Guarantee) (other than
any Additional Notes) and any Exchange Notes (including any Note Guarantee);

     (3) Indebtedness of the Issuer and its Restricted Subsidiaries in existence on the
Issue Date (other than Indebtedness described in clauses (1), (2), (4), (5), (7), (9), (10)
and (11) of Section 4.09(b));

     (4) Guarantees by (a) the Issuer or a Subsidiary Guarantor of Indebtedness permitted to
be Incurred by the Issuer or a Subsidiary Guarantor in accordance with the provisions of
this Indenture; provided that in the event such Indebtedness being Guaranteed is a
Subordinated Obligation or a Guarantor Subordinated Obligation, then the related Guarantee
shall be subordinated in right of payment to the Notes or the Note Guarantee, as the case
may be, and (b) Non-Guarantor Subsidiaries of Indebtedness Incurred by Non-Guarantor
Subsidiaries in accordance with the provisions of this Indenture;

     (5) Indebtedness of the Issuer owing to and held by any Restricted Subsidiary or
Indebtedness of a Restricted Subsidiary owing to and held by the Issuer or any other
Restricted Subsidiary; provided, however,

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     (a) if the Issuer is the obligor on Indebtedness owing to a Non-Guarantor
Subsidiary, such Indebtedness is expressly subordinated in right of payment to all
obligations with respect to the Notes;

     (b) if a Subsidiary Guarantor is the obligor on such Indebtedness and a
Non-Guarantor Subsidiary is the obligee, such Indebtedness is subordinated in right
of payment to the Subsidiary Guarantees of such Guarantor; and

     (c) any subsequent issuance or transfer of Capital Stock or any other event
which results in any such Indebtedness being beneficially held by a Person other
than the Issuer or a Restricted Subsidiary of the Issuer or any sale or other
transfer of any such Indebtedness to a Person other than the Issuer or a Restricted
Subsidiary of the Issuer shall be deemed, in each case, to constitute an Incurrence
of such Indebtedness by the Issuer or such Subsidiary not permitted by this clause
(5);

     (6) Indebtedness of any Person Incurred and outstanding on the date on which such
Person became a Restricted Subsidiary or was acquired by, or merged into, the Issuer or any
Restricted Subsidiary (other than Indebtedness Incurred (a) to provide all or any portion of
the funds utilized to consummate the transaction or series of related transactions pursuant
to which such Restricted Subsidiary became a Restricted Subsidiary or was otherwise acquired
by the Issuer or (b) otherwise in connection with, or in contemplation of, such
acquisition); provided, however, that at the time such Person is acquired, either

     (a) the Issuer would have been able to Incur $1.00 of additional Indebtedness
pursuant to Section 4.09(a) after giving effect to the Incurrence of such
Indebtedness pursuant to this clause (6); or

     (b) the Consolidated Coverage Ratio of the Issuer and its Restricted
Subsidiaries is equal to or higher than such ratio immediately prior to such
acquisition or merger;

     (7) Indebtedness under Hedging Obligations that are Incurred in the ordinary course of
business (and not for speculative purposes);

     (8) Indebtedness (including Capitalized Lease Obligations) of the Issuer or a
Restricted Subsidiary Incurred to finance the purchase, lease, construction, design,
installation, remodeling or improvement of any property, plant or equipment used or to be
used in the business of the Issuer or such Restricted Subsidiary, whether through the direct
purchase of such property, plant or equipment or the purchase of Capital Stock of any Person
owning such property, plant or equipment, and any Indebtedness of the Issuer or a Restricted
Subsidiary which serves to refund or refinance any Indebtedness Incurred pursuant to this
clause (8), in an aggregate outstanding principal amount which, when taken together with the
principal amount of all other Indebtedness Incurred pursuant to this clause (8) and then
outstanding, will not exceed the greater of (x) $10.0 million and (y) 5.75% of Consolidated
Net Tangible Assets in the aggregate together with all other Indebtedness issued and
outstanding under this clause (8);

     (9) Indebtedness Incurred by the Issuer or its Restricted Subsidiaries in respect of
workers’ compensation claims, health, disability or other employee benefits or property,
casualty

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or liability insurance, self-insurance obligations, performance, bid surety and
similar bonds and completion Guarantees (not for borrowed money) provided in the ordinary
course of business;

     (10) Indebtedness arising from agreements of the Issuer or a Restricted Subsidiary
providing for indemnification, adjustment of purchase price or similar obligations, in each
case, Incurred or assumed in connection with the disposition of any business or assets of
the Issuer or any business, assets or Capital Stock of a Restricted Subsidiary, other than
Guarantees of Indebtedness Incurred by any Person acquiring all or any portion of such
business, assets or a Subsidiary for the purpose of financing such acquisition, provided
that

     (a) the maximum aggregate liability in respect of all such Indebtedness shall
at no time exceed the gross proceeds including non-cash proceeds (the fair market
value of such non-cash proceeds being measured at the time received and without
giving effect to subsequent changes in value) actually received by the Issuer and
its Restricted Subsidiaries in connection with such disposition; and

     (b) such Indebtedness is not reflected on the balance sheet of the Issuer or
any of its Restricted Subsidiaries (contingent obligations referred to in a footnote
to financial statements and not otherwise reflected on the balance sheet will not be
deemed to be reflected on such balance sheet for purposes of this clause (10);

     (11) Indebtedness arising from the honoring by a bank or other financial institution of
a check, draft or similar instrument (except in the case of daylight overdrafts) drawn
against insufficient funds in the ordinary course of business, provided, however, that such
Indebtedness is extinguished within five Business Days of Incurrence;

     (12) the Incurrence or issuance by the Issuer or any Restricted Subsidiary of
Refinancing Indebtedness that serves to refund or refinance any Indebtedness Incurred as
permitted under Section 4.09(a) and Sections 4.09(b)(2), (3), (6) and (12) or any
Indebtedness issued to so refund or refinance such Indebtedness, including additional
Indebtedness Incurred to pay premiums (including reasonable, as determined in good faith by
the Issuer, tender premiums), defeasance costs, accrued interest and fees and expenses in
connection therewith prior to its respective maturity;

     (13) Capitalized Lease Obligations or other obligations or deferrals attributable to
capital spending or other funds made available by food, beverage and packaging suppliers in
connection with incentive arrangements;

     (14) Indebtedness of Foreign Subsidiaries in an aggregate amount not to exceed $10.0
million at any one time outstanding;

     (15) Indebtedness of the Issuer or any Restricted Subsidiary consisting of (i) the
financing of insurance premiums or (ii) take-or-pay obligations contained in supply
arrangements, in each case, in the ordinary course of business;

     (16) Indebtedness consisting of Indebtedness issued by the Issuer or a Restricted
Subsidiary to current or former officers, directors and employees thereof or any direct or
indirect parent entity, their respective estates, spouses or former spouses, in each case to
finance the

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purchase or redemption of Capital Stock of the Issuer or any of their direct or
indirect parent to the extent permitted by clause (7) of Section 4.07(b);

     (17) Indebtedness representing (i) deferred compensation to employees of the Issuer or
any Restricted Subsidiary incurred in the ordinary course of business or (ii) obligations of
the Issuer or any Restricted Subsidiary under deferred compensation or other similar
arrangements Incurred by such Person in connection with the Transactions or any other
acquisition or disposition of any business, assets or a Subsidiary in accordance with the
terms of this Indenture; and

     (18) other Indebtedness of the Issuer and its Restricted Subsidiaries in an aggregate
outstanding principal amount which, when taken together with the principal amount of all
other Indebtedness Incurred pursuant to this clause (18) and then outstanding, will not
exceed the greater of (x) $30.0 million and (y) 17.25% of Consolidated Net Tangible Assets
at any time outstanding.

          (c) The Issuer will not Incur any Indebtedness under the preceding paragraph if the proceeds
thereof are used, directly or indirectly, to refinance any Subordinated Obligations of the Issuer
unless such Indebtedness will be subordinated to the Notes to at least the same extent as such
Subordinated Obligations. No Subsidiary Guarantor will Incur any Indebtedness under the preceding
paragraph if the proceeds thereof are used, directly or indirectly, to refinance any Guarantor
Subordinated Obligations of such Subsidiary Guarantor unless such Indebtedness will be subordinated
to the obligations of such Subsidiary Guarantor under its Note Guarantee to at least the same
extent as such refinanced Guarantor Subordinated Obligations. No Restricted Subsidiary (other than
a Subsidiary Guarantor) may Incur any Indebtedness if the proceeds are used to refinance
Indebtedness of the Issuer or a Subsidiary Guarantor.

          (d) For purposes of determining compliance with, and the outstanding principal amount of any
particular Indebtedness Incurred pursuant to and in compliance with, this Section 4.09:

     (1) in the event that Indebtedness meets the criteria of more than one of the types of
Indebtedness described in Section 4.09(b), the Issuer, in its sole discretion, will classify
such item of Indebtedness on the date of Incurrence and may later classify such item of
Indebtedness in any manner that complies with Section 4.09(b) and only be required to
include the amount and type of such Indebtedness in one of such clauses under Section
4.09(b); provided that all Indebtedness outstanding on the Issue Date under the Credit
Agreement shall be deemed Incurred under Section 4.09(b)(1) and not Section 4.09(a) or
Section 4.09(b)(3) and may not later be reclassified;

     (2) Guarantees of, or obligations in respect of letters of credit relating to,
Indebtedness that is otherwise included in the determination of a particular amount of
Indebtedness shall not be included;

     (3) if obligations in respect of letters of credit are Incurred pursuant to a Debt
Facility and are being treated as Incurred pursuant to Section 4.09(b)(1) and the letters of
credit relate to other Indebtedness, then such other Indebtedness shall not be included;

     (4) the principal amount of any Disqualified Stock of the Issuer or a Restricted
Subsidiary, or Preferred Stock of a Non-Guarantor Subsidiary, will be equal to the greater
of the

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maximum mandatory redemption or repurchase price (not including, in either case, any
redemption or repurchase premium) or the liquidation preference thereof;

     (5) Indebtedness permitted by this Section 4.09 need not be permitted solely by
reference to one provision permitting such Indebtedness but may be permitted in part by one
such provision and in part by one or more other provisions of this Section 4.09 permitting
such Indebtedness;

     (6) the principal amount of any Indebtedness outstanding in connection with a
securitization transaction or series of securitization transactions is the amount of
obligations outstanding under the legal documents entered into as part of such transaction
that would be characterized as principal if such transaction were structured as a secured
lending transaction rather than as a purchase relating to such transaction; and

     (7) the amount of Indebtedness issued at a price that is less than the principal amount
thereof will be equal to the amount of the liability in respect thereof determined in
accordance with GAAP.

          (e) Accrual of interest, accrual of dividends, the accretion of accreted value or the
amortization of debt discount, the payment of interest in the form of additional Indebtedness and
the payment of dividends in the form of additional shares of Preferred Stock or Disqualified Stock
will not be deemed to be an Incurrence of Indebtedness for purposes of this Section 4.09. The
amount of any Indebtedness outstanding as of any date shall be (i) the accreted value thereof in
the case of any Indebtedness issued with original issue discount or the aggregate principal amount
outstanding in the case of Indebtedness issued with interest payable in kind and (ii) the principal
amount or liquidation preference thereof, together with any interest thereon that is more than 30
days past due, in the case of any other Indebtedness.

          (f) In addition, the Issuer will not permit any of its Unrestricted Subsidiaries to Incur any
Indebtedness or issue any shares of Disqualified Stock, other than Non-Recourse Debt. If at any
time an Unrestricted Subsidiary becomes a Restricted Subsidiary, any Indebtedness of such
Subsidiary shall be deemed to be Incurred by a Restricted Subsidiary as of such date (and, if such
Indebtedness is not
permitted to be Incurred as of such date under this Section 4.09 the Issuer shall be in
Default of this Section 4.09).

          Section 4.10 Limitation on Sales of Assets and Subsidiary Stock.

     (1) The Issuer shall not, and shall not permit any of its Subsidiary Guarantors to make
any Asset Sale of Collateral unless:

     (a) the Issuer or such Subsidiary Guarantor, as the case may be, receives
consideration at least equal to the fair market value (such fair market value to be
determined on the date of contractually agreeing to such Asset Sale) of the shares
and assets subject to such Asset Sale;

     (b) in the case of Asset Sales involving consideration in excess of $5.0
million, the fair market value is determined in good faith by the Board of Directors
(including as to the value of all non-cash consideration);

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     (c) at least 75% of the consideration from such Asset Sale received by the
Issuer or such Subsidiary Guarantor, as the case may be, is in the form of cash or
Cash Equivalents; and

     (d) the remaining consideration (other than Excluded Assets) from such Asset
Sale that is not in the form of cash or Cash Equivalents is substantially
simultaneously with its acquisition pledged under the Collateral Documents, with the
Lien on such Collateral securing the Notes being of the same priority with respect
to the Notes as the Lien on the assets disposed of.

          Subject to the terms of the Intercreditor Agreement and any Credit Agreement Obligation, an
amount equal to 100% of the Net Available Cash from any Asset Sales of Collateral or Recovery Event
shall, within 365 days from the later of (i) the date of such Asset Sale or Recovery Event and (ii)
the date of receipt of such Net Available Cash, at the Issuer’s election, (a) be used by the Issuer
or a Subsidiary Guarantor to invest in Additional Assets (which may include performance of a
restoration of the affected Collateral in the event of a Recovery Event), which Additional Assets
are substantially simultaneously with their acquisition pledged under the Collateral Documents (or,
in the case of real property, mortgaged as and when required by Section 10.05), with the Lien on
such Collateral securing the Notes being of the same priority with respect to the Notes as the Lien
on the assets disposed of, (b) be used to permanently prepay or permanently repay any Indebtedness
constituting Credit Agreement Obligations or other First Priority Lien Obligations or (c) be
applied toward an Asset Sale Offer as Excess Proceeds (as defined and as provided below); provided,
however, that if the Issuer or any Subsidiary Guarantor completes an Asset Sale of Collateral
(other than any Current Premises) constituting a Sale/Leaseback Transaction within 270 days from
initiating the investment in the property subject to such Sale/Leaseback Transaction (the total
amount of such investment in such property during such 270 day period shall be referred to as the
“Initial Investment”), the Issuer shall only be required to, within 365 days of such Sale/Leaseback
Transaction, apply an amount of Designated Sale/Leaseback Consideration received from such
Sale/Leaseback Transaction equal to (A) the Net Available Cash from such Sale/Leaseback Transaction
minus (B) an amount equal to the Initial Investment in accordance with clauses (a), (b) or (c)
above.

          In the case of any application of Net Available Cash or Designated Sale/Leaseback
Consideration pursuant to clause (a) of the preceding paragraph, a binding commitment shall be
treated as a permitted application of the Net Available Cash or Designated Sale/Leaseback
Consideration, as the
case may be, from the date of such commitment so long as the Issuer or the applicable
Subsidiary Guarantor enters into such commitment (a “Collateral Acceptable Commitment”) with the
good faith expectation that such Net Available Cash or Designated Sale/Leaseback Consideration, as
the case may be, will be applied to satisfy such commitment within 180 days of such commitment and,
in the event any Collateral Acceptable Commitment is later cancelled or terminated for any reason
before the Net Available Cash or Designated Sale/Leaseback Consideration, as the case may be, is
applied in connection therewith, the Issuer or such Subsidiary Guarantor enters into another
Collateral Acceptable Commitment (a “Collateral Second Commitment”) within 90 days of such
cancellation or termination and with the good faith expectation that such Net Available Cash or
Designated Sale/Leaseback Consideration, as the case may be, will be applied within 180 days of
such Collateral Second Commitment, it being understood that if a Collateral Second Commitment is
later cancelled or terminated for any reason before such Net Available Cash or Designated
Sale/Leaseback Consideration, as the case may be, is applied, then such Net Available Cash or
Designated Sale/Leaseback Consideration, as the case may be, shall constitute (and be applied as)
Excess Proceeds.

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          Pending the final application of any such Net Available Cash in accordance with this Section
4.10(1), the Issuer and its Restricted Subsidiaries may temporarily reduce Indebtedness or
otherwise invest such Net Available Cash in any manner not prohibited by this Indenture, the
Collateral Documents or any Credit Agreement Obligation.

     (2) The Issuer will not, and will not permit any of its Restricted Subsidiaries to,
make any Asset Sale of assets or property not constituting Collateral unless:

     (a) the Issuer or such Restricted Subsidiary, as the case may be, receives
consideration at least equal to the fair market value (such fair market value to be
determined on the date of contractually agreeing to such Asset Sale), of the shares
and assets subject to such Asset Sale;

     (b) in the case of Asset Sales involving consideration in excess of $5.0
million, the fair market value is determined in good faith by the Board of Directors
(including as to the value of all non-cash consideration);

     (c) at least 75% of the consideration from such Asset Sale received by the
Issuer or such Restricted Subsidiary, as the case may be, is in the form of cash or
Cash Equivalents; and

     (d) an amount equal to 100% of the Net Available Cash from such Asset Sale is
applied by the Issuer or such Restricted Subsidiary, as the case may be, within 365
days from the later of the date of such Asset Sale and the receipt of such Net
Available Cash, as follows:

     (A) to permanently reduce (and permanently reduce commitments with
respect thereto) Credit Agreement Obligations or other First Priority Lien
Obligations;

     (B) to permanently reduce obligations under other Indebtedness of the
Issuer (other than any Disqualified Stock or Subordinated Obligations) or
Indebtedness of a Restricted Subsidiary (other than any Disqualified Stock
or Guarantor Subordinated Obligations) (in each case other than Indebtedness
owed to the Issuer or an Affiliate of the Issuer); provided that the Issuer
shall equally and ratably reduce obligations under the Notes as provided
under Section 3.07
through open market purchases or by making an offer (in accordance with
the procedures set forth below for an Asset Sale Offer) to all Holders to
purchase their Notes at 100% of the principal amount thereof, plus the
amount of accrued but unpaid interest, if any, on the amount of Notes that
would otherwise be prepaid;

     (C) to invest in Additional Assets; provided that, to the extent such
Additional Assets are of the type that would constitute Collateral under the
Collateral Documents, such Additional Assets are concurrently added to the
Collateral securing the Notes and the Note Guarantees in the manner and to
the extent required in this Indenture or any of the Collateral Documents;

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     (D) applied as Excess Proceeds to make an Asset Sale Offer (as defined
and as provided below); or

     (E) any combination of the foregoing.

          In the case of clause (C), a binding commitment shall be treated as a permitted application of
the Net Available Cash from the date of such commitment so long as the Issuer or such other
Restricted Subsidiary enters into such commitment with the good faith expectation that such Net
Available Cash will be applied to satisfy such commitment within 180 days of such commitment (an
“Acceptable Commitment”) and, in the event any Acceptable Commitment is later cancelled or
terminated for any reason before the Net Available Cash is applied in connection therewith, the
Issuer or such Restricted Subsidiary enters into another Acceptable Commitment (a “Second
Commitment”) within 90 days of such cancellation or termination and with the good faith expectation
that such Net Available Cash will be applied within 180 days of such Second Commitment, it being
understood that if a Second Commitment is later cancelled or terminated for any reason before such
Net Available Cash is applied, then such Net Available Cash shall constitute Excess Proceeds.

          Pending the final application of any such Net Available Cash in accordance with clause (A),
(B), (C), (D) or (E) above, the Issuer and its Restricted Subsidiaries may temporarily reduce
Indebtedness or otherwise invest such Net Available Cash in any manner not prohibited by this
Indenture, the Collateral Documents or any Credit Agreement Obligation.

     (3) For the purposes of clauses (1)(c) and (2)(c) above and for no other purpose, the
following will be deemed to be cash:

     (a) any liabilities (as shown on the Issuer’s or such Restricted Subsidiary’s
most recent balance sheet) of the Issuer or any Restricted Subsidiary (other than
liabilities that are by their terms subordinated to the Notes or the Note
Guarantees) that are assumed by the transferee of any such assets and from which the
Issuer and all Restricted Subsidiaries have been validly released;

     (b) any securities, notes or other obligations received by the Issuer or any
Restricted Subsidiary from the transferee that are converted by the Issuer or such
Restricted Subsidiary into cash (to the extent of the cash received) within 180 days
following the closing of such Asset Sale; and

     (c) Designated Non-cash Consideration received by the Issuer or any of its
Restricted Subsidiaries in such Asset Sale having an aggregate fair market value (as
determined in good faith by the Issuer), taken together with all other Designated
Non-cash Consideration received pursuant to this clause (3) that is at that time
outstanding not to exceed an amount equal to the greater of (x) $5.0 million and (y)
3.0% of Consolidated Net Tangible Assets at the time of the receipt of such
Designated Non-cash Consideration (with the fair market value of each item of
Designated Non-cash Consideration being measured at the time received without giving
effect to subsequent change in value).

     (4) Any Net Available Cash from Asset Sales (including Asset Sales of Collateral) or
Recovery Events that is not applied or invested as provided in the preceding subsections (1)
and (2) of this Section 4.10 or in accordance with the Collateral Documents will be deemed
to constitute “Excess Proceeds.” On or before the 366th day after an Asset Sale or Recovery
Event,

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as may be extended as described above, if the aggregate amount of Excess Proceeds
exceeds $20.0 million, the Issuer shall make an offer (“Asset Sale Offer”) in accordance
with the procedures set forth in Section 3.09 to all Holders of Notes and to the extent
required by the terms of other Pari Passu Lien Obligations, to all holders of other Pari
Passu Lien Obligations outstanding with similar provisions requiring the Issuer to make an
offer to purchase such Pari Passu Lien Obligations with the proceeds from any Asset Sale or
Recovery Event (“Pari Passu Notes”), to purchase the maximum principal amount of Notes and
any such Pari Passu Notes to which the Asset Sale Offer applies that may be purchased out of
the Excess Proceeds, at an offer price in cash in an amount equal to 100% of the principal
amount of the Notes and Pari Passu Notes plus accrued and unpaid interest to the date of
purchase, in accordance with the procedures set forth in this Indenture or the agreements
governing the Pari Passu Notes, as applicable, in each case in denominations of $2,000 and
integral multiples of $1,000 in excess thereof. To the extent that the aggregate amount of
Notes and Pari Passu Notes so validly tendered and not properly withdrawn pursuant to an
Asset Sale Offer is less than the Excess Proceeds, the Issuer may use any remaining Excess
Proceeds for general corporate purposes, subject to other covenants contained in this
Indenture. If the aggregate principal amount of Notes surrendered by Holders thereof and
other Pari Passu Notes surrendered by Holders or lenders, collectively, exceeds the amount
of Excess Proceeds, the Trustee shall select the Notes and Pari Passu Notes to be purchased
on a pro rata basis on the basis of the aggregate principal amount of tendered Notes and
Pari Passu Notes. Upon completion of such Asset Sale Offer, the amount of Excess Proceeds
shall be reset at zero.

          Section 4.11 Transactions with Affiliates.

          (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly
or indirectly, enter into or conduct any transaction (including the purchase, sale, lease or
exchange of any property or the rendering of any service) with any Affiliate of the Issuer (an
“Affiliate Transaction”) involving aggregate consideration in excess of $1.0 million unless:

     (1) the terms of such Affiliate Transaction are no less favorable to the Issuer or such
Restricted Subsidiary, as the case may be, than those that could have been obtained by the
Issuer or such Restricted Subsidiary in a comparable transaction at the time of such
transaction in arm’s-length dealings with a Person who is not such an Affiliate; and

     (2) in the event such Affiliate Transaction involves an aggregate consideration in
excess of $10.0 million, either, in the Issuer’s sole discretion, the Issuer has received a
written opinion from an Independent Financial Advisor that such Affiliate Transaction is not
materially less favorable than those that might reasonably have been obtained in a
comparable transaction at such time on an arm’s-length basis from a Person that is not an
Affiliate or such transaction has been approved by a majority of members of such Board of
Directors having no personal stake in such transaction.

          (b) The preceding paragraph will not apply to:

     (1) any transaction between the Issuer and one or more Restricted Subsidiaries or
between or among Restricted Subsidiaries and any Guarantees issued by the Issuer or a
Restricted Subsidiary for the benefit of the Issuer or a Restricted Subsidiary, as the case
may be, in accordance with Section 4.09;

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     (2) any Restricted Payment permitted to be made pursuant Section 4.07 and the
definition of “Permitted Investments” (other than pursuant to clauses (2), (16) and (17)
thereof);

     (3) any issuance of securities, or other payments, awards or grants in cash, securities
or otherwise pursuant to, or the funding of, employment agreements and other compensation
arrangements, stock options, restricted stock plans, long-term incentive plans, stock
appreciation rights plans, participation plans or similar employee benefits plans and/or
indemnity provided on behalf of officers, directors and employees approved by the Board of
Directors of the Issuer or any direct or indirect parent entity or of any Restricted
Subsidiary, as applicable;

     (4) the payment or reimbursement of reasonable and customary fees and expenses paid to
and indemnity provided on behalf of, officers, directors or employees of the Issuer or any
Restricted Subsidiary or any direct or indirect parent entity;

     (5) loans or advances (or the cancellation thereof) to employees, officers or directors
of the Issuer or any Restricted Subsidiary in the ordinary course of business, in an
aggregate principal amount outstanding at any time not in excess of $2.0 million;

     (6) any agreement as in effect as of the Issue Date, as such agreement may be amended,
modified, supplemented, extended or renewed from time to time, so long as any such
amendment, modification, supplement, extension or renewal is not more disadvantageous to the
Holders in any material respect in the good faith judgment of the Board of Directors of the
Issuer when taken as a whole than the terms of such agreement in effect on the Issue Date;

     (7) any agreement between any Person and an Affiliate of such Person existing at the
time such Person is acquired by or merged into the Issuer or a Restricted Subsidiary;
provided, that such agreement was not entered into in contemplation of such acquisition or
merger, or any amendment thereto (so long as any such amendment is not disadvantageous to
the Holders in any material respect in the good faith judgment of the Board of Directors of
the Issuer when taken as a whole as compared to such agreement as in effect on the date of
such acquisition or merger);

     (8) transactions with customers, clients, suppliers, joint venture partners or
purchasers or sellers of goods or services, in each case in the ordinary course of the
business of the Issuer and its Restricted Subsidiaries and otherwise in compliance with the
terms of this Indenture; provided that in the reasonable determination of the members of the
Board of Directors or Senior Management of the Issuer, such transactions are on terms that
are no less favorable to the Issuer or the relevant Restricted Subsidiary than those that
would have been obtained in a comparable transaction by the Issuer or such Restricted
Subsidiary with an unrelated Person;

     (9) any issuance or sale of Capital Stock (other than Disqualified Stock) to Affiliates
of the Issuer and the granting of registration and other customary rights in connection
therewith;

     (10) payments by the Issuer or any Subsidiary Guarantor to the Sponsor or any of its
Affiliates for any investment banking, financing, investment, underwriting, placement agent,
financial advisory or similar services, including without limitation in connection with
acquisitions or divestitures, which payments are approved by a majority of disinterested
members of the Board of Directors;

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     (11) the payment of management, consulting, monitoring and advisory fees and related
expenses and termination fees pursuant to the Sponsor Management Agreement not to exceed the
amount set forth in the Sponsor Management Agreement as in effect on the Issue Date or any
amendment thereto (so long as any such amendment is not more disadvantageous to the Holders
in any material respect in the good faith judgment of the Board of Directors of the Issuer
when taken as a whole as compared to the Sponsor Management Agreement as in effect on the
Issue Date);

     (12) the existence of, or the performance by the Issuer or any Restricted Subsidiary of
its obligations under the terms of any stockholders agreement (including any registration
rights agreement or purchase agreement related thereto) to which it is a party as of the
Issue Date, and any similar agreements which it may enter into thereafter; provided,
however, that the existence of, or the performance by the Issuer or any Restricted
Subsidiary of its obligations under, any future amendment to any such existing transaction,
agreement or arrangement or under any similar transaction, agreement or arrangement entered
into after the Issue Date shall only be permitted by this clause (12) to the extent that the
terms of any such existing transaction, agreement or arrangement together with all
amendments thereto, taken as a whole is not more disadvantageous to the Holders in any
material respect in the good faith judgment of the Board of Directors of the Issuer when
taken as a whole as compared to the such transaction, agreement or arrangement as in effect
on the Issue Date;

     (13) the execution of the Transactions, and the payment of all fees and expenses
related to the Transactions, in each case as disclosed in the Offering Memorandum;

     (14) the entering into of any tax sharing agreement or arrangement that complies with
Section 4.07;

     (15) pledges of Capital Stock of Unrestricted Subsidiaries;

     (16) transactions in which the Issuer or any Restricted Subsidiary delivers to the
Trustee a letter from an Independent Financial Advisor stating that such transaction is fair
to the Issuer or such Restricted Subsidiary from a financial point of view or stating that
the terms are not materially less favorable than those that might reasonably have been
obtained by the Issuer or such Restricted Subsidiary in a comparable transaction at such
time on an arms-length basis from a Person that is not an Affiliate; and

     (17) any employment agreements entered into by the Issuer or any Restricted Subsidiary
in the ordinary course of business and otherwise permitted by this Indenture.

          Section 4.12 Limitation on Liens; Negative Pledge.

          (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly
or indirectly, create, Incur or suffer to exist any Lien (other than Permitted Liens) that secures
obligations under any Indebtedness upon any of its property or assets (including Capital Stock of
Subsidiaries), or income or profits therefrom. In addition, if the Issuer or any Guarantor,
directly or indirectly, shall create, incur or suffer to exist any Lien securing Credit Agreement
Obligations or other First Priority Lien Obligations, the Issuer or such Guarantor, as the case may
be, must concurrently grant
at least a second-priority Lien, subject to Permitted Liens, upon such property as security
for the Notes and the Note Guarantees.

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          (b) The Issuer and its Restricted Subsidiaries shall not further pledge the Collateral as
security or otherwise, subject to Permitted Liens. The Issuer, however, subject to compliance by
it with Section 4.09, may issue an unlimited aggregate principal amount of Additional Notes having
identical terms and conditions as the Notes, all of which may be secured by the Collateral
(subject, in each case, to the limitations of clause (a) of this Section 4.12).

          Section 4.13 [Intentionally Omitted].

          Section 4.14 Offer to Repurchase Upon Change of Control.

          (a) If a Change of Control occurs, unless the Issuer exercises or has exercised its right to
redeem all of the Notes pursuant to Section 3.07, each Holder will have the right to require the
Issuer to repurchase all or any part (equal to $2,000 or larger integral multiples of $1,000 in
excess thereof) of such Holder’s Notes at a purchase price in cash equal to 101% of the principal
amount of the Notes plus accrued and unpaid interest, if any, to the date of purchase (subject to
the right of Holders of record on the relevant Record Date to receive interest due on the relevant
Interest Payment Date). Within 30 days following any Change of Control, unless the Issuer
exercises or has exercised its right to redeem all of the Notes pursuant to Section 3.07, the
Issuer will mail or send electronically a notice (the “Change of Control Offer”) to each Holder,
with a copy to the Trustee, stating:

     (1) that a Change of Control has occurred and that such Holder has the right to require
the Issuer to purchase such Holder’s Notes at a purchase price in cash equal to 101% of the
principal amount of such Notes plus accrued and unpaid interest, if any, to the date of
purchase (subject to the right of Holders of record on a record date to receive interest on
the relevant Interest Payment Date) (the “Change of Control Payment”);

     (2) the repurchase date (which shall be no earlier than 30 days nor later than 60 days
from the date such notice is mailed or sent electronically) (the “Change of Control Payment
Date”); and

     (3) the procedures determined by the Issuer, consistent with this Indenture, that a
Holder must follow in order to have its Notes repurchased.

     The notice, if mailed in a manner herein provided, shall be conclusively presumed to
have been given, whether or not the Holder receives such notice. If (A) the notice is
mailed in a manner herein provided and (B) any Holder fails to receive such notice or a
Holder receives such notice but it is defective, such Holder’s failure to receive such
notice or such defect shall not affect the validity of the proceedings for the purchase of
the Notes as to all other Holders that properly received such notice without defect.

          (b) On the Change of Control Payment Date, the Issuer will, to the extent lawful:

     (1) accept for payment all Notes or portions of Notes (of $2,000 or larger integral
multiples of $1,000) properly tendered pursuant to the Change of Control Offer;

     (2) deposit with the Paying Agent an amount equal to the Change of Control Payment in
respect of all Notes or portions of Notes so tendered; and

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     (3) deliver or cause to be delivered to the Trustee the Notes so accepted together with
an Officers’ Certificate stating the aggregate principal amount of Notes or portions of
Notes being purchased by the Issuer.

          (c) The Paying Agent will promptly transfer to each Holder of Notes so tendered the Change of
Control Payment for such Notes, and the Trustee will promptly authenticate and mail (or cause to be
transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased
portion of the Notes surrendered, if any; provided that each such new Note will be in a principal
amount of $2,000 or larger integral multiples of $1,000 in excess thereof.

          (d) If the Change of Control Payment Date is on or after a Record Date and on or before the
related Interest Payment Date, any accrued and unpaid interest will be paid on the relevant
Interest Payment Date to the Person in whose name a Note is registered at the close of business on
such record date, and no additional interest will be payable to Holders who tender pursuant to the
Change of Control Offer.

          (e) The Issuer will not be required to make a Change of Control Offer upon a Change of Control
if a third party makes the Change of Control Offer in the manner, at the times and otherwise in
compliance with the requirements set forth in this Section Indenture applicable to a Change of
Control Offer made by the Issuer and purchases all Notes validly tendered and not withdrawn under
such Change of Control Offer (it being understood that such third party may make a Change of
Control Offer that is conditioned upon and prior to the occurrence of a Change of Control pursuant
to this Section 4.14(e)).

          A Change of Control Offer may be made in advance of a Change of Control, conditioned upon such
Change of Control, if a definitive agreement is in place for the Change of Control at the time of
making of the Change of Control Offer.

          (f) The Issuer will comply, to the extent applicable, with the requirements of Rule 14e-1
under the Exchange Act and any other securities laws or regulations in connection with the
repurchase of Notes pursuant to a Change of Control Offer. To the extent that the provisions of any
securities laws or regulations conflict with provisions of this Indenture, the Issuer will comply
with the applicable securities laws and regulations and will not be deemed to have breached its
obligations under this Indenture by virtue of the conflict.

          (g) Other than as specifically provided in this Section 4.14, any purchase pursuant to this
Section 4.14 shall be made pursuant to the provisions of Section 3.02, 3.05 and 3.06.

          Section 4.15 Additional Guarantees.

          (a) The Issuer shall cause Logan’s Roadhouse of Texas, Inc. and Logan’s Roadhouse of Kansas,
Inc., substantially contemporaneously with the consummation of the LRI Merger and the Finance
Merger, to execute and deliver to the Trustee the Supplemental Indenture for Merger, the form of
which is attached as Exhibit D hereto, pursuant to which Logan’s Roadhouse of Texas, Inc. and
Logan’s Roadhouse of Kansas, Inc. will unconditionally Guarantee, on a joint and several basis, the
full and prompt payment of the principal of, premium, if any, and interest (including Additional
Interest, if any) in respect of the Notes on a senior secured basis (and as provided in the
Collateral Documents) and all other obligations under this Indenture.

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          (b) The Issuer shall cause each Restricted Subsidiary that becomes a borrower under or that
Guarantees, on the Issue Date or at any time thereafter, Indebtedness under the Credit Agreement or
that Guarantees any other Indebtedness of the Issuer or any Subsidiary Guarantor to:

     (1) execute and deliver to the Trustee a supplemental indenture to this Indenture, the
form of which is attached as Exhibit C hereto, pursuant to which such Restricted Subsidiary
will unconditionally Guarantee, on a joint and several basis, the full and prompt payment of
the principal of, premium, if any, and interest (including Additional Interest, if any) on
the Notes on a senior secured basis and all other obligations under this Indenture; and

     (2) deliver to the Trustee an Officers’ Certificate to the effect that:

     (A) such Guarantee has been duly executed and authorized; and

     (B) such Guarantee constitutes a valid, binding and enforceable obligation of
such Restricted Subsidiary, except insofar as enforcement thereof may be limited by
bankruptcy, insolvency or similar laws (including, without limitation, all laws
relating to fraudulent transfers) and except insofar as enforcement thereof is
subject to general principles of equity.

          (c) Each Person that becomes a Guarantor on or after the Issue Date shall also become a party
to the Registration Rights Agreement, the applicable Collateral Documents and the Intercreditor
Agreement and shall as promptly as practicable execute and deliver such security instruments,
financing statements, mortgages, deeds of trust (in substantially the same form as those executed
and delivered with respect to the Collateral) and certificates and opinions of counsel (to the
extent, and substantially in the form delivered, with respect to the Current Premises (but no
greater scope)) as may be necessary to vest in the Collateral Agent a perfected second-priority
security interest (subject to Permitted Liens), in properties and assets that constitute Collateral
as security for the Notes or the Note Guarantees and as may be necessary to have such property or
asset added to the applicable Collateral as required under the Collateral Documents and this
Indenture, and thereupon all provisions of this Indenture relating to the Collateral shall be
deemed to relate to such properties and assets to the same extent and with the same force and
effect; provided, however, that if granting such second-priority security interest in any such
property or asset requires the consent of a third party, the Issuer will use commercially
reasonable efforts to obtain such consent.

          Section 4.16 Limitation on Lines of Business.

     The Issuer will not, and will not permit any Restricted Subsidiary to, engage in any business
other than a Similar Business.

          Section 4.17 Limitation on Activities of Holdings.

     Holdings shall not conduct, transact or otherwise engage, or commit to conduct, transact or
otherwise engage, in any business or operations other than (a) its direct ownership of all of the
Equity Interests in, and its management of, the Issuer, (b) the Transactions and the other
transactions contemplated by the Merger Documents, including with respect to the Intercompany Loan
(c) performance of its obligations under the Loan Documents and other activities to the extent
permitted by and in compliance with the Loan Documents, (d) the provision of administrative, legal,
accounting, tax and management services to, or on behalf of, any of its Subsidiaries, (e) the entry
into, and exercise of

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rights and performance of obligations in respect of (A) any other agreement
to which it is a party on the Issue Date and described in the Offering Memorandum; in each case as
amended, supplemented waived or otherwise modified from time to time, and any refinancings,
refundings, renewals or extensions thereof in accordance with such Loan Documents, (B) contracts
and agreements with officers, directors and employees of Holdings or any of its Subsidiaries
relating to their employment or directorships, (C) insurance policies and related contracts and
agreements, and (D) equity subscription agreements,
registration rights agreements, voting and other stockholder agreements, engagement letters,
underwriting agreements and other agreements in respect of its equity securities or any offering,
issuance or sale thereof, (f) the offering, issuance, sale and repurchase or redemption of, and
dividends or distributions on its equity securities, (g) the filing of registration statements, and
compliance with applicable reporting and other obligations, under federal, state or other
securities laws, (h) the listing of its equity securities and compliance with applicable reporting
and other obligations in connection therewith, (i) the retention of (and the entry into, and
exercise of rights and performance of obligations in respect of, contracts and agreements with)
transfer agents, private placement agents and underwriters with respect to equity securities and,
counsel, accountants and other advisors and consultants, (j) the performance of obligations under
and compliance with its certificate of incorporation and by-laws, or any applicable law, ordinance,
regulation, rule, order, judgment, decree or permit, including, without limitation, as a result of
or in connection with the activities of its Subsidiaries, (k) the incurrence and payment of its
operating and business expenses and any taxes for which it may be liable and (l) other activities
incidental or related to the foregoing.

          Section 4.18 Limitation on Sale/Leaseback Transactions.

     The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, enter into
any Sale/Leaseback Transaction unless:

     (1) the Issuer or such Restricted Subsidiary could have Incurred Indebtedness in an
amount equal to the Attributable Indebtedness in respect of such Sale/Leaseback Transaction
pursuant to Section 4.09;

     (2) the Issuer or such Restricted Subsidiary would be permitted to create a Lien on the
property subject to such Sale/Leaseback Transaction pursuant to Section 4.12(a); and

     (3) the Sale/Leaseback Transaction is treated as an Asset Sale and all of the
conditions of this Indenture set forth in Section 4.10 (including the provisions concerning
the application of Net Available Cash) are satisfied with respect to such Sale/Leaseback
Transaction, treating all of the consideration received in such Sale/Leaseback Transaction
as Net Available Cash for purposes of Section 4.10.

          Section 4.19 Effectiveness of Covenants.

          (a) If after the Issue Date (i) the Notes have an Investment Grade Rating from both of the
Ratings Agencies and (ii) no Default has occurred and is continuing under this Indenture then,
beginning on that day, the Issuer and its Restricted Subsidiaries shall not be subject to Sections
4.07, 4.08, 4.09, 4.10, 4.11, 4.15, 4.16 and 5.01(a)(4), (collectively, the “Suspended
Covenants”).

          (b) If at any time the Notes’ credit rating is downgraded from an Investment Grade Rating by
any Rating Agency or if a Default or Event of Default occurs and is continuing, then the Suspended
Covenants will thereafter be reinstated (the “Reinstatement Date”) and be applicable pursuant

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to
the terms of this Indenture (including in connection with performing any calculation or assessment
to determine compliance with the terms of this Indenture), unless and until the Notes subsequently
attain an Investment Grade Rating and no Default or Event of Default is in existence (in which
event the Suspended Covenants shall no longer be in effect for such time that the Notes maintain an
Investment Grade Rating and no Default or Event of Default is in existence); provided, however,
that no Default, Event of Default or breach of any kind shall be deemed to exist under this
Indenture, the Collateral Documents, the Intercreditor Agreement, the Notes or the Guarantees with
respect to the Suspended Covenants based on, and none of the Issuer or any of its Subsidiaries
shall bear any liability for, any
actions taken or events occurring during any Suspension Period (as defined below), or any
actions taken at any time pursuant to any contractual obligation arising after commencement of a
Suspension Period and prior to the immediately following Reinstatement Date, regardless of whether
such actions or events would have been permitted if the applicable Suspended Covenants remained in
effect during such period. The periods of time between the date of suspension of the covenants and
the immediately following Reinstatement Date are each referred to as a “Suspension Period.”

          (c) On a Reinstatement Date, all Indebtedness Incurred during the immediately preceding
Suspension Period shall be classified to have been Incurred pursuant to Section 4.09(a) or (b) (to
the extent such Indebtedness would be permitted to be Incurred thereunder as of the Reinstatement
Date and after giving effect to Indebtedness Incurred prior to the Suspension Period and
outstanding on the Reinstatement Date). To the extent such Indebtedness would not be so permitted
to be Incurred pursuant to Section 4.09(a) or one of the clauses set forth in (b), such
Indebtedness shall be deemed to have been outstanding on the Issue Date, so that it is classified
as permitted under Section 4.09(b)(3). Calculations made after a Reinstatement Date of the amount
available to be made as Restricted Payments under Section 4.07 shall be made as though Section 4.07
had been in effect since the Issue Date and throughout the immediately preceding Suspension Period.
Accordingly, Restricted Payments made during such Suspension Period shall reduce the amount
available to be made as Restricted Payments under Section 4.07(a). However, no Default or Event of
Default will be deemed to have occurred as a result of the Reinstatement Date occurring on the
basis of any actions taken or the continuance of any circumstances resulting from actions taken or
the performance of obligations under agreements entered into by the Issuer or any of the Restricted
Subsidiaries during the Suspension Period (other than agreements to take actions after the
Reinstatement Date that would not be permitted outside of the Suspension Period entered into in
contemplation of the Reinstatement Date).

          (d) During any Suspension Period, the Board of Directors of the Issuer may not designate any
of the Issuer’s Subsidiaries as Unrestricted Subsidiaries pursuant to this Indenture.

ARTICLE 5

SUCCESSORS

          Section 5.01 Merger, Consolidation or Sale of All or Substantially All Assets.

          (a) The Issuer shall not consolidate with or merge with or into or wind up into (whether or
not such Issuer is the surviving corporation), or sell, assign, convey, transfer, lease, convey or
otherwise dispose of all or substantially all of its properties and assets, in one or more related
transactions, to any Person unless:

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     (1) the resulting, surviving or transferee Person (the “Successor Company”) will be a
corporation organized and existing under the laws of the United States of America, any State
of the United States, the District of Columbia or any territory thereof;

     (2) the Successor Company (if other than such Issuer) assumes all of the obligations of
the Issuer under the Notes and this Indenture pursuant to a supplemental indenture or other
documentation and instruments in forms satisfactory to the Trustee and assumes by written
agreement all of the obligations of the Issuer under the Registration Rights Agreement, the
Collateral Documents and the Intercreditor Agreement and the Successor Company shall cause
such amendments, supplements or other instruments to be executed, filed and recorded in such
jurisdictions as may be required by applicable law to preserve and protect the Lien on the
Collateral pledged by or transferred to such Person, together with such financing statements
or
comparable documents as may be required to perfect any security interests in such
Collateral which may be perfected by the filing of a financing statement or a similar
document under the Uniform Commercial Code or other similar statute or regulation of the
relevant states or jurisdictions;

     (3) immediately after giving effect to such transaction, no Default or Event of Default
shall have occurred and be continuing;

     (4) immediately after giving pro forma effect to such transaction and any related
financing transactions, as if such transactions had occurred at the beginning of the
applicable four-quarter period,

     (a) the Successor Company would be able to Incur at least $1.00 of additional
Indebtedness pursuant to Section 4.09(a), or

     (b) the Consolidated Coverage Ratio for the Successor Company and the
Restricted Subsidiaries would be equal to or greater than such ratio for the Issuer
and its Restricted Subsidiaries immediately prior to such transaction;

     (5) unless the Issuer is the Successor Company, each Guarantor (unless it is the other
party to the transactions above, in which case clause (2) shall apply) shall have by
supplemental indenture confirmed that its Note Guarantee shall apply to such Person’s
obligations in respect of this Indenture and the Notes and shall have by written agreement
confirmed that its obligations under the Registration Rights Agreement, Collateral Documents
and the Intercreditor Agreement shall continue to be in effect and shall cause such
amendments, supplements or other instruments to be executed, filed and recorded in such
jurisdictions as may be required by applicable law to preserve and protect the Lien on the
Collateral pledged by such Guarantor, together with such financing statements or comparable
documents as may be required to perfect any security interests in such Collateral which may
be perfected by the filing of a financing statement or a similar document under the Uniform
Commercial Code or other similar statute or regulation of the relevant states or
jurisdictions; and

     (6) in any of the foregoing transactions involving the execution and delivery of a
supplemental indenture, such Issuer shall have delivered to the Trustee an Officers’
Certificate and an Opinion of Counsel, each to the effect that such consolidation, merger or
transfer and such supplemental indenture (if any) comply with this Indenture; provided that
in giving such Opinion

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of Counsel such counsel may rely on an officer’s certificate as to
compliance with the foregoing clauses (3) and (4) and as to any matters of fact.

          (b) (1) Notwithstanding the preceding clauses (3) and (4) of Section 5.01(a),

     (A) any Restricted Subsidiary may consolidate with, merge with or into or
transfer all or part of its properties and assets to the Issuer so long as no
Capital Stock of such Restricted Subsidiary is distributed to any Person other than
the Issuer; and

     (B) the Issuer may merge with an Affiliate of the Issuer solely for the purpose
of reincorporating the Issuer in another jurisdiction in the United States of
America, any State of the United States, the District of Columbia or any territory
thereof, so long as the amount of Indebtedness of the Issuer and its Restricted
Subsidiaries is not increased thereby.

     (2) Notwithstanding the preceding clauses (3), (4) and (6), the Finance Merger
pursuant to the Supplemental Indenture for Merger shall be permitted.

          (c) In addition, Holdings shall not, nor shall the Issuer permit any Subsidiary Guarantor to,
consolidate with or merge with or into or wind up into (whether or not Holdings or such Subsidiary
Guarantor is the surviving corporation), or, directly or indirectly, sell, assign, convey,
transfer, lease, convey or otherwise dispose of all or substantially all of its properties and
assets any Person (other than to another Subsidiary Guarantor in the case of a Subsidiary
Guarantor) unless:

(1) (A) the resulting, surviving or transferee Person (the “Successor
Guarantor”) will be a corporation, partnership, trust or limited liability
company organized and existing under the laws of the United States of
America, any State of the United States, the District of Columbia or any
territory thereof;

(B) the Successor Guarantor, if other than such Guarantor, expressly
assumes, by supplemental indenture or other documentation or instruments,
executed and delivered to the Trustee, in form satisfactory to the Trustee,
all the obligations of such Guarantor under the Note Guarantee, this
Indenture, the Collateral Documents, the Intercreditor Agreement and the
Registration Rights Agreement and will cause such amendments, supplements or
other instruments to be executed, filed and recorded in such jurisdictions
as may be required by applicable law to preserve and protect the Lien on the
Collateral owned by or transferred to the Successor Guarantor, together with
such financing statements or comparable documents as may be required to
perfect any security interests in such Collateral which may be perfected by
the filing of a financing statement or a similar document under the Uniform
Commercial Code or other similar statute or regulation of the relevant
states or jurisdictions; and

(C) immediately after giving effect to such transaction (and treating any
Indebtedness that becomes an obligation of the Successor Guarantor or any
Restricted Subsidiary as a result of such transaction as having been
Incurred by the Successor Guarantor or such Restricted Subsidiary at the
time of such transaction), no Default or Event of Default shall have
occurred and be continuing; and

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(2) with respect to a Subsidiary Guarantor, the transaction is made in
compliance with Section 4.10 (it being understood that only such portion of
the Net Available Cash as is required to be applied on the date of such
transaction in accordance with the terms of this Indenture needs to be
applied in accordance therewith at such time) and this Section 5.01.

          (d) (1) Notwithstanding the foregoing, any Guarantor may merge with or into or transfer all or
part of its properties and assets to a Subsidiary Guarantor or the Issuer or merge with a
Restricted Subsidiary of the Issuer solely for the purpose of reincorporating the Guarantor in a
State of the United States, the District of Columbia or any territory thereof, as long as the
amount of Indebtedness of such Guarantor and the Restricted Subsidiaries of the Issuer is not
increased thereby and (2) nothwithstanding the preceding clause 1(c) and clause (2) of Section
5.01(c), the LRI Merger pursuant to the Supplemental Indenture for Merger shall be permitted.

          (e) For purposes of this Section 5.01, the sale, lease, conveyance, assignment, transfer or
other disposition of all or substantially all of the properties and assets of one or more
Subsidiaries of the Issuer, which properties and assets, if held by the Issuer instead of such
Subsidiaries, would constitute all or substantially all of the properties and assets of the Issuer
on a consolidated basis, shall be deemed to be the transfer of all or substantially all of the
properties and assets of the Issuer.

          (f) The Issuer, Holdings or a Subsidiary Guarantor, as the case may be, will be released from
its obligations under this Indenture and its Note Guarantee, as the case may be, and the Successor
Company and the Successor Guarantor, as the case may be, will succeed to, and be substituted for,
and may exercise every right and power of, the Issuer or such Guarantor, as the case may be, under
this Indenture, the Notes (if the Issuer) the Note Guarantee (if a Guarantor), the Collateral
Documents (as applicable), the Intercreditor Agreement and the Registration Rights Agreement, but
the predecessor Issuer or Guarantor in the case of a lease of all or substantially all of its
assets will not be released from its obligations to pay the principal, interest and premium (if
any) on the Notes or, in the case of a Guarantor, will not be released from its obligations under
its Note Guarantee. Solely for the purpose of computing amounts described in clauses (C)(i),
(C)(ii), (C)(iii) and (C)(iv) of Section 4.07, the Successor Company shall only be deemed to have
succeeded and be substituted for the Issuer with respect to periods subsequent to the effective
time of such merger, consolidation, combination or transfer of assets.

          Section 5.02 Successor Entity Substituted.

          Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or
other disposition of all or substantially all of the assets of the Issuer or a Guarantor in
accordance with Section 5.01, the successor Person formed by such consolidation or into or with
which the Issuer or a Guarantor, as applicable, is merged or wound up or to which such sale,
assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be
substituted for (so that from and after the date of such consolidation, merger, winding up, sale,
lease, conveyance or other disposition, the provisions of this Indenture referring to the Issuer or
such Guarantor, as applicable, shall refer instead to the successor entity and not to the Issuer or
such Guarantor, as applicable), and may exercise every right and power of the Issuer or such
Guarantor, as applicable, under this Indenture with the same effect as if such successor Person had
been named as the Issuer or such Guarantor, as applicable, herein; provided that the predecessor
Issuer shall not be relieved from the obligation to pay the principal of, premium, if

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any, and
interest on the Notes except in the case of a sale, assignment, transfer, conveyance or other
disposition of all of the Issuer’s assets that meets the requirements of Section 5.01.

ARTICLE 6

DEFAULTS AND REMEDIES

          Section 6.01 Events of Default.

          (a) Each of the following is an Event of Default:

     (1) default in any payment of interest or Additional Interest (as required by the
Registration Rights Agreement) on any Note when due and such default continues for 30 days;

     (2) default in the payment of principal of or premium, if any, on any Note when due at
its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration or
otherwise;

     (3) failure by any Issuer or any Guarantor to comply with its obligations under
Section 5.01;

     (4) failure by the Issuer or the Guarantors to comply for 60 days after notice as
provided below with its other covenants or agreements contained in this Indenture (subject
to clause (11) below) or any of their agreements contained in the Collateral Documents or
the Intercreditor Agreement;

     (5) default under any mortgage, indenture or instrument under which there may be issued
or by which there may be secured or evidenced any Indebtedness for money borrowed by the
Issuer or any of the Restricted Subsidiaries (or the payment of which is Guaranteed by the
Issuer or any of the Restricted Subsidiaries), other than Indebtedness owed to the Issuer or
a Restricted Subsidiary, whether such Indebtedness or Guarantee now exists, or is created
after the Issue Date, which default:

(a) is caused by a failure to pay principal of, or interest or premium, if any,
on such Indebtedness prior to the expiration of the grace period provided in such
Indebtedness (“payment default”); or

(b) results in the acceleration of such Indebtedness prior to its maturity (the
“cross acceleration provision”);

and, in each case, the principal amount of any such Indebtedness, together with the
principal amount of any other such Indebtedness under which there has been a payment
default or the maturity of which has been so accelerated, aggregates $20.0 million
or more;

     (6) the Issuer, any Restricted Subsidiary that is a Significant Subsidiary or any group
of Restricted Subsidiaries that, taken together (as of the date of the latest audited
consolidated financial statements of the Issuer and its Restricted Subsidiaries), would
constitute a Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy
Law:

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     (A) commences proceedings to be adjudicated bankrupt or insolvent;

     (B) consents to the institution of bankruptcy or insolvency proceedings against
it, or the filing by it of a petition or answer or consent seeking an arrangement of
debt, reorganization, dissolution, winding up or relief under applicable Bankruptcy
Law;

     (C) consents to the appointment of a receiver, interim receiver, receiver and
manager, liquidator, assignee, trustee, sequestrator or other similar official of it
or for all or substantially all of its property;

     (D) makes a general assignment for the benefit of its creditors; or

     (E) generally is not paying its debts as they become due;

     (7) a court of competent jurisdiction enters an order or decree under any Bankruptcy
Law that:

     (A) is for relief against the Issuer, any Restricted Subsidiary that is a
Significant Subsidiary or any group of Restricted Subsidiaries that, taken together
(as of the date of the most recent audited consolidated financial statements of the
Issuer and its
Restricted Subsidiaries), would constitute a Significant Subsidiary, in a
proceeding in which the Issuer, any such Restricted Subsidiary that is a Significant
Subsidiary or any group of Restricted Subsidiaries that, taken together (as of the
date of the latest audited consolidated financial statements of the Issuer and its
Restricted Subsidiaries), would constitute a Significant Subsidiary, is to be
adjudicated bankrupt or insolvent;

     (B) appoints a receiver, interim receiver, receiver and manager, liquidator,
assignee, trustee, sequestrator or other similar official of the Issuer, any
Restricted Subsidiary that is a Significant Subsidiary or any group of Restricted
Subsidiaries that, taken together (as of the date of the latest audited consolidated
financial statements of the Issuer and its Restricted Subsidiaries), would
constitute a Significant Subsidiary, or for all or substantially all of the property
of the Issuer, any Restricted Subsidiary that is a Significant Subsidiary or any
group of Restricted Subsidiaries that, taken together (as of the date of the latest
audited consolidated financial statements of the Issuer and its Restricted
Subsidiaries), would constitute a Significant Subsidiary; or

     (C) orders the liquidation, dissolution or winding up of the Issuer, or any
Restricted Subsidiary that is a Significant Subsidiary or any group of Subsidiaries
that, taken together (as of the date of the latest audited consolidated financial
statements of the Issuer and its Restricted Subsidiaries), would constitute a
Significant Subsidiary;

     and the order or decree remains unstayed and in effect for 60 consecutive days;

     (8) failure by the Issuer or any Significant Subsidiary or group of Restricted
Subsidiaries that, taken together (as of the latest audited consolidated financial
statements for the Issuer and its Restricted Subsidiaries), would constitute a Significant
Subsidiary to pay final judgments aggregating in excess of $20.0 million (net of any amounts
that a reputable and creditworthy insurance company has acknowledged liability for in
writing), which judgments are not paid, discharged or stayed for a period of 60 days (the
“judgment default provision”);

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     (9) any Note Guarantee, Collateral Document or obligation under the Intercreditor
Agreement ceases to be in full force and effect (except as contemplated by the terms of this
Indenture) or is declared null and void in a judicial proceeding or any Guarantor denies or
disaffirms its obligations under this Indenture or its Note Guarantee;

     (10) with respect to any Collateral having a fair market value in excess of $20.0
million, individually or in the aggregate, (A) the failure of the security interest with
respect to such Collateral under the Collateral Documents, at any time, to be in full force
and effect for any reason other than in accordance with their terms and the terms of this
Indenture or the Intercreditor Agreement, which failure continues for 60 days or (B) the
assertion by the Issuer or any Guarantor, in any pleading in any court of competent
jurisdiction, that any such security interest is invalid or unenforceable; or

     (11) failure by the Issuer or Holdings to comply with Section 4.03(b) after the 90-day
period specified in the last sentence of such Section 4.03(b).

          However, a default under clause (4) of this Section 6.01(a) will not constitute an Event of
Default until the Trustee or the Holders of 25% in principal amount of the outstanding Notes notify
the Issuer of the Default and the Issuer does not cure such Default within the time specified in
clause (4) of this Section 6.01 after receipt of such notice.

          Section 6.02 Acceleration.

          (a) If any Event of Default (other an Event of Default specified in clauses (6) and (7) of
Section 6.01(a)) occurs and is continuing under this Indenture, the Trustee by written notice to
the Issuer specifying the Event of Default, or the Holders of at least 25% in aggregate principal
amount of the then outstanding Notes by written notice to the Issuer and the Trustee, may, and the
Trustee at the request of such Holders shall, declare the principal of, premium, if any, and
accrued and unpaid interest, if any, on all the Notes to be due and payable. Upon such a
declaration, such principal, premium and accrued and unpaid interest shall be due and payable
immediately.

          (b) In the event of a declaration of acceleration of the Notes because an Event of Default
pursuant to clause (5) has occurred and is continuing, the declaration of acceleration of the
Notes shall be automatically annulled if the Default triggering such Event of Default pursuant to
clause (5) of Section 6.01(a) shall be remedied or cured by the Issuer or a Restricted Subsidiary
or waived by the holders of the relevant Indebtedness within 20 days after the declaration of
acceleration with respect thereto and if (1) the annulment of the acceleration of the Notes would
not conflict with any judgment or decree of a court of competent jurisdiction and (2) all existing
Events of Default, except nonpayment of principal, premium or interest on the Notes that became due
solely because of the acceleration of the Notes, have been cured or waived.

          (c) Notwithstanding the foregoing, in case an Event of Default under clauses (6) and (7) of
Section 6.01(a) occurs and is continuing, the principal of, premium, if any, and accrued and unpaid
interest on all the Notes shall become and be immediately due and payable without any declaration
or other act on the part of the Trustee or any Holders.

          (d) The Holders of a majority in principal amount of the then outstanding Notes by written
notice to the Trustee may on behalf of all Holders rescind an acceleration with respect to the
Notes and its consequences if (1) the rescission would not conflict with any judgment or decree of
a court

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of competent jurisdiction and (2) all existing Events of Default (except nonpayment of the
principal of, premium, if any, and interest on the Notes that have become due solely because of the
acceleration) have been cured or waived.

          Section 6.03 Other Remedies.

          If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy
to collect the payment of principal of, premium, if any, and interest on the Notes or to enforce
the performance of any provision of the Notes or this Indenture.

          The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Note
in exercising any right or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law.

          Section 6.04 Waiver of Past Defaults.

          The Holders of a majority in aggregate principal amount of the then outstanding Notes by
written notice to the Trustee may on behalf of all Holders waive any existing Default and its
consequences hereunder, except:

     (1) a continuing Default in the payment of the principal of, premium, if any, or
interest on any Note held by a non-consenting Holder (including in connection with an Asset
Sale Offer or a Change of Control Offer); and

     (2) a Default with respect to a provision that under Section 9.02 cannot be amended
without the consent of each Holder affected,

provided, that subject to Section 6.02, the Holders of a majority in aggregate principal amount of
the then outstanding Notes may rescind an acceleration and its consequences, including any related
payment default that resulted from such acceleration. Upon any such waiver, such Default shall
cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for
every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default
or impair any right consequent thereon.

          Section 6.05 Control by Majority.

          The Holders of a majority in aggregate principal amount of the then outstanding Notes may
direct the time, method and place of conducting any proceeding for exercising any remedy available
to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee
or the Collateral Agent, as the case may be, may refuse to follow any direction that conflicts with
law or this Indenture, the Notes, the Guarantees, the Collateral Documents or the Intercreditor
Agreement or that the Trustee determines in good faith is unduly prejudicial to the rights of any
other Holder or that would involve the Trustee in personal liability or expense for which the
Trustee has not received an indemnity reasonably satisfactory to it.

          Section 6.06 Limitation on Suits.

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          Subject to Section 6.07, no Holder of a Note may pursue any remedy with respect to this
Indenture or the Notes (subject to the Intercreditor Agreement) unless:

     (1) such Holder has previously given the Trustee written notice that an Event of
Default is continuing;

     (2) Holders of at least 25% in aggregate principal amount of the then outstanding Notes
have requested the Trustee to pursue the remedy;

     (3) such Holders have offered the Trustee security or indemnity reasonably satisfactory
to it against any loss, liability or expense;

     (4) the Trustee has not complied with such request within 60 days after the receipt of
the request and the offer of security or indemnity; and

     (5) the Holders of a majority in aggregate principal amount of the then outstanding
Notes have not given the Trustee a direction that, in the opinion of the Trustee, is
inconsistent with such request within such 60-day period.

A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a
preference or priority over another Holder (it being understood that the Trustee does not have an
affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to
such Holders).

          Section 6.07 Rights of Holders to Receive Payment.

          Notwithstanding any other provision of this Indenture, the right of any Holder to receive
payment of principal of, premium, if any, and interest on its Note, on or after the respective due
dates expressed or provided for in such Note (including in connection with an Asset Sale Offer or a
Change of Control Offer), or to bring suit for the enforcement of any such payment on or after such
respective dates, shall not be impaired or affected without the consent of such Holder.

          Section 6.08 Collection Suit by Trustee.

          If an Event of Default specified in Section 6.01(a)(1) or (2) occurs and is continuing, the
Trustee may recover judgment in its own name and as trustee of an express trust against the Issuer
and any other obligor on the Notes for the whole amount of principal of, premium, if any, and
interest remaining unpaid on the Notes, together with interest on overdue principal and, to the
extent lawful, interest and such further amount as shall be sufficient to cover the costs and
expenses of collection, including the reasonable compensation, expenses, disbursements and advances
of the Trustee and its agents and outside counsel.

          Section 6.09 Restoration of Rights and Remedies.

          If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy
under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has
been determined adversely to the Trustee or to such Holder, then and in every such case, subject to
any determination in such proceedings, the Issuer, the Guarantors, the Trustee and the Holders
shall be restored severally and respectively to their former positions hereunder and thereafter all
rights and remedies of the Trustee and the Holders shall continue as though no such proceeding has
been instituted.

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          Section 6.10 Rights and Remedies Cumulative.

          Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Notes in Section 2.07, no right or remedy herein conferred upon or
reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy,
and every right and remedy are, to the extent permitted by law, cumulative and in addition to every
other right and remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other appropriate right or remedy.

          Section 6.11 Delay or Omission Not Waiver.

          No delay or omission of the Trustee or of any Holder to exercise any right or remedy accruing
upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such
Event of Default or an acquiescence therein. Every right and remedy given by this Article or by
law to the Trustee or to the Holders may be exercised from time to time, and as often as may be
deemed expedient, by the Trustee or by the Holders, as the case may be.

          Section 6.12 Trustee May File Proofs of Claim.

          The Trustee may file proofs of claim and other papers or documents as may be necessary or
advisable in order to have the claims of the Trustee (including any claim for the compensation,
expenses, disbursements and advances of the Trustee, its agents and outside counsel) and the
Holders of the Notes allowed in any judicial proceedings relative to the Issuer (or any other
obligor on the Notes, including the Guarantors), its creditors or its property and is entitled and
empowered to participate as a member in any official committee of creditors appointed in such
matter and to collect, receive and
distribute any money or other property payable or deliverable on any such claims. Any
custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments
to the Trustee, and in the event that the Trustee shall consent to the making of such payments
directly to the Holders, to pay to the Trustee any amount due to it for the compensation, expenses,
disbursements and advances of the Trustee and its agents and outside counsel, and any other amounts
due the Trustee or the Collateral Agent under Section 7.07. To the extent that the payment of any
such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and
any other amounts due the Trustee or the Collateral Agent under Section 7.07 out of the estate in
any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien
on, and shall be paid out of, any and all distributions, dividends, money, securities and other
properties that the Holders may be entitled to receive in such proceeding whether in liquidation or
under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be
deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any
Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or
the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder
in any such proceeding.

          Section 6.13 Priorities.

          (a) With respect to the Collateral, if the Trustee collects any money or property pursuant to
this Article 6, or pursuant to the foreclosure or other remedial provisions contained in the
Collateral Documents or the Intercreditor Agreement, it shall pay out the money in the following
order:

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     (1) to the Trustee and the Collateral Agent and their respective agents and outside
attorneys for amounts due under Section 7.07, including payment of all compensation,
expenses and liabilities incurred, and all advances made, by the Trustee or the Collateral
Agent and the costs and expenses of collection;

     (2) to Holders for amounts due and unpaid on the Notes for principal, premium, if any,
and interest ratably, without preference or priority of any kind, according to the amounts
due and payable on the Notes for principal, premium, if any, and interest, respectively; and

     (3) to the Issuer or to such party as a court of competent jurisdiction shall direct,
including a Guarantor, if applicable.

          (b) The Trustee may fix a record date and payment date for any payment to Holders pursuant to
this Section 6.13. Promptly after any record date is set pursuant to this Section 6.13, the
Trustee shall cause notice of such record date and payment date to be given to the Issuer and to
each Holder in the manner set forth in Section 13.02.

          Section 6.14 Undertaking for Costs.

          In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion
may require the filing by any party litigant in such suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees and expenses, against any party litigant in the suit, having due regard to the merits and good
faith of the claims or defenses made by the party litigant. This Section 6.14 does not apply to a
suit by the Trustee, a suit by a Holder pursuant to Section 6.07, or a suit by Holders of more than
10% in aggregate principal amount of the then outstanding Notes.

ARTICLE 7

TRUSTEE

          Section 7.01 Duties of Trustee.

          (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of
the rights and powers vested in it by this Indenture, and use the same degree of care and skill in
its exercise, as a prudent person would exercise or use under the circumstances in the conduct of
such person’s own affairs.

          (b) Except during the continuance of an Event of Default:

     (1) the duties of the Trustee shall be determined solely by the express provisions of
this Indenture, and the Trustee need perform only those duties that are specifically set
forth in this Indenture and no others, and no implied covenants or obligations shall be read
into this Indenture against the Trustee; and

     (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture. However,

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in the case of any such certificates or opinions which by any provision
hereof are specifically required to be furnished to the Trustee, the Trustee shall examine
the certificates and opinions to determine whether or not they conform to the requirements
of this Indenture (but need not confirm or investigate the accuracy of mathematical
calculations or other facts stated therein).

          (c) The Trustee may not be relieved from liabilities for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that:

     (1) this paragraph does not limit the effect of paragraph (b) of this Section 7.01;

     (2) the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it is proved in a court of competent jurisdiction that the
Trustee was negligent in ascertaining the pertinent facts; and

     (3) the Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section 6.05.

          (d) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.01.

          (e) The Trustee shall be under no obligation to exercise any of its rights or powers under
this Indenture at the request or direction of any of the Holders unless the Holders have offered to
the Trustee indemnity or security reasonably satisfactory to it against any loss, liability or
expense.

          (f) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree in writing with the Issuer. Money held in trust by the Trustee need not be
segregated from other funds except to the extent required by law.

          Section 7.02 Rights of Trustee.

          (a) The Trustee may conclusively rely and shall be protected in acting or refraining from
acting upon any document believed by it to be genuine and to have been signed or presented by the
proper Person. The Trustee need not investigate any fact or matter stated in the document, but the
Trustee, in its discretion, may make such further inquiry or investigation into such facts or
matters as it may see fit, and, if the Trustee shall determine in good faith to make such further
inquiry or investigation, it shall be entitled upon reasonable notice during normal business hours
to examine the books, records and premises of the Issuer, personally or by agent or attorney at the
sole cost of the Issuer and shall incur no liability or additional liability of any kind by reason
of such inquiry or investigation.

          (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
or an Opinion of Counsel or both, subject to the other provisions of this Indenture. The Trustee
shall not be liable for any action it takes or omits to take in good faith in conclusive reliance
on such Officers’ Certificate or Opinion of Counsel. The Trustee may consult with counsel of its
selection and the advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection from liability in respect of any action taken, suffered or omitted by
it hereunder in good faith and in reliance thereon.

          (c) The Trustee may act through its attorneys and agents and shall not be responsible for the
misconduct or negligence of any agent or attorney appointed with due care.

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          (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
that it believes to be authorized or within the rights or powers conferred upon it by this
Indenture.

          (e) Unless otherwise specifically provided in this Indenture, any demand, request, direction
or notice from the Issuer or a Guarantor shall be sufficient if signed by an Officer of the Issuer
or such Guarantor.

          (f) None of the provisions of this Indenture shall require the Trustee to expend or risk its
own funds or otherwise to incur any liability, financial or otherwise, in the performance of any of
its duties hereunder, or in the exercise of any of its rights or powers if it shall have reasonable
grounds for believing that repayment of such funds or indemnity reasonably satisfactory to it
against such risk or liability is not assured to it.

          (g) The Trustee shall not be deemed to have notice or knowledge of any Default or Event of
Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written
notice of any event which is in fact such a Default is received by the Trustee at the Corporate
Trust Office of the Trustee, and such notice references the existence of a Default or Event of
Default, the Notes and this Indenture.

          (h) In no event shall the Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit)
irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action.

          (i) The rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be
enforceable by, the Collateral Agent and by the Trustee in each of its capacities hereunder, and
each agent, custodian and other Person employed to act hereunder.

          (j) The Trustee may request that the Issuer deliver an Officers’ Certificate setting forth the
names of individuals and/or titles of officers authorized at such time to take specified actions
pursuant to this Indenture, which Officers’ Certificate may be signed by any person authorized
to sign an Officers’ Certificate, including any Person specified as so authorized in any such
certificate previously delivered and not superseded.

          (k) The Trustee shall not be required to give any bond or surety in respect of the performance
of its powers and duties hereunder.

          (l) Any request or direction of the Issuer mentioned herein shall be sufficiently evidenced by
an Issuer request or Issuer order and any resolution of the Board of Directors shall be
sufficiently evidenced by a Board Resolution.

          Section 7.03 Individual Rights.

          The Trustee, any Agent or the Collateral Agent in its individual or any other capacity may
become the owner or pledgee of Notes and may otherwise deal with the Issuer or any Affiliate of the
Issuer with the same rights it would have if it were not Trustee, such Agent or the Collateral
Agent. However, in the event that the Trustee acquires any conflicting interest within the meaning
of Section 310(b) of the Trust Indenture Act, it must eliminate such conflict within 90 days, apply
to the SEC for

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permission to continue as trustee (if this Indenture has been qualified under the
Trust Indenture Act) or resign. The Trustee is also subject to Sections 7.10 and 7.11.

          Section 7.04 Disclaimer.

          Neither the Trustee nor the Collateral Agent shall be responsible for and makes no
representation as to the validity or adequacy of this Indenture, the Notes, the Guarantees, the
Collateral Documents or the Intercreditor Agreement, it shall not be accountable for the Issuer’s
use of the proceeds from the Notes or any money paid to the Issuer or upon the Issuer’s direction
under any provision of this Indenture, it shall not be responsible for the use or application of
any money received by any Paying Agent other than the Trustee or the Collateral Agent, as the case
may be, and it shall not be responsible for any statement or recital herein or any statement in the
Notes or any other document in connection with the sale of the Notes or pursuant to this Indenture
other than the Trustee’s certificate of authentication on the Notes.

          Section 7.05 Notice of Defaults.

          If a Default occurs and is continuing and if it is actually known to the Trustee, the Trustee
shall mail to each Holder a notice of the Default within 90 days after it occurs. Except in the
case of an Event of Default specified in clauses (1) or (2) of Section 6.01(a), the Trustee may
withhold from the Holders notice of any continuing Default if a Responsible Officer of the Trustee
determines in good faith that withholding the notice is in the interest of the Holders.

          Section 7.06 Reports by Trustee to Holders of the Notes.

          Within 60 days after each April 15, beginning with April 15, 2011, and for so long as Notes
remain outstanding, the Trustee shall mail to the Holders of the Notes a brief report dated as of
such reporting date that complies with Trust Indenture Act Section 313(a) (but if no event
described in Trust Indenture Act Section 313(a) has occurred within the twelve months preceding the
reporting date, no report need be transmitted). The Trustee also shall comply with Trust Indenture
Act Section 313(b)(2). The Trustee shall also transmit by mail all reports as required by Trust
Indenture Act Section 313(c). To the extent that this Indenture is required to be qualified under
the Trust Indenture Act in connection with an issuance of Additional Notes in a registered offering
or otherwise, the Trustee shall also comply with
Section 313(d). The Issuer shall promptly notify the Trustee in writing in the event the
Notes are listed on any national securities exchange or delisted therefrom.

          Section 7.07 Compensation and Indemnity.

          (a) The Issuer and the Guarantors, jointly and severally, shall pay to the Trustee from time
to time such compensation for its acceptance of this Indenture and services hereunder as the
parties shall agree in writing from time to time. The Trustee’s compensation shall not be limited
by any law on compensation of a trustee of an express trust. The Issuer shall reimburse the
Trustee promptly upon request for all reasonable disbursements, advances and expenses incurred or
made by it in addition to the compensation for its services. Such expenses shall include the
reasonable compensation, disbursements and expenses of the Trustee’s agents and outside counsel.
The Trustee shall provide the Issuer reasonable notice of any expenditure not in the ordinary
course of business.

          (b) The Issuer and the Guarantors, jointly and severally, shall indemnify the Trustee,
including its officers, directors, employees and agents, for, and hold each of the Trustee,
including its

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officers, directors, employees and agents, and any predecessor harmless against, any
and all loss, damage, claims, liability or expense (including reasonable attorneys’ fees and
expenses (other than the allocated cost of internal counsel)) but other than any taxes based upon
or determined by income of the Trustee incurred by it in connection with the acceptance or
administration of this trust and the performance of its duties hereunder and under the Notes, the
Guarantees, the Collateral Documents and the Intercreditor Agreement (including the costs and
expenses of enforcing this Indenture, the Notes, the Guarantees, the Collateral Documents and the
Intercreditor Agreement against the Issuer or any Guarantor (including this Section 7.07)) or
defending itself against any claim whether asserted by any Holder, the Issuer or any Guarantor or
any other Person, or liability in connection with the acceptance, exercise or performance of any of
its powers or duties hereunder). The Trustee shall notify the Issuer promptly of any claim for
which it may seek indemnity. Failure by the Trustee to so notify the Issuer shall not relieve the
Issuer of its obligations hereunder. The Issuer shall defend the claim and the Trustee may have
separate counsel of its selection and the Issuer shall pay the reasonable fees and expenses of one
such counsel (and any appropriate local counsel). The Issuer need not reimburse any expense or
indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own
willful misconduct or negligence.

          (c) The obligations of the Issuer and the Guarantors under this Section 7.07 shall survive the
satisfaction and discharge of this Indenture or the earlier resignation or removal of the Trustee.

          (d) To secure the payment obligations of the Issuer and the Guarantors in this Section 7.07,
the Trustee shall have a Lien prior to the Notes on all money or property held or collected by the
Trustee, except that held in trust to pay principal and interest on particular Notes. Such Lien
shall survive the satisfaction and discharge of this Indenture.

          (e) Without prejudice to any other rights available to the Trustee under applicable law, when
the Trustee incurs expenses or renders services after an Event of Default specified in Section
6.01(a) (6) occurs, the expenses and the compensation for the services (including the fees and
expenses of its agents and counsel) are intended to constitute expenses of administration under any
Bankruptcy Law.

          Section 7.08 Replacement of Trustee or the Collateral Agent.

          (a) A resignation or removal of the Trustee or the Collateral Agent and appointment of a
successor Trustee or a successor Collateral Agent shall become effective only upon the successor
Trustee’s or successor Collateral Agent’s acceptance of appointment as provided in this Section
7.08. The Trustee or the Collateral Agent may resign in writing at any time by giving 30 days
prior notice of
such resignation to the Issuer and be discharged from the trust hereby created by so notifying
the Issuer. The Holders of a majority in aggregate principal amount of the then outstanding Notes
may remove the Trustee or the Collateral Agent by so notifying the Trustee or the Collateral Agent,
as the case may be, and the Issuer in writing. The Issuer may remove the Trustee or the Collateral
Agent if:

     (1) in the case of the Trustee, the Trustee fails to comply with Section 7.10;

     (2) the Trustee or the Collateral Agent, as the case may be, is adjudged a bankrupt or
an insolvent or an order for relief is entered with respect to the Trustee or the Collateral
Agent under any Bankruptcy Law;

     (3) a receiver or public officer takes charge of the Trustee or the Collateral Agent,
as the case may be, or its property; or

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     (4) the Trustee or the Collateral Agent, as the case may be, becomes incapable of
acting.

          (b) If the Trustee or the Collateral Agent resigns or is removed or if a vacancy exists in the
office of Trustee or the Collateral Agent for any reason, the Issuer shall promptly appoint a
successor Trustee or a successor Collateral Agent, as the case may be. Within one year after the
successor Trustee or successor Collateral Agent takes office, the Holders of a majority in
aggregate principal amount of the then outstanding Notes may remove the successor Trustee or
successor Collateral Agent to replace it with another successor Trustee or successor Collateral
Agent.

          (c) If a successor Trustee or a successor Collateral Agent does not take office within 60 days
after the retiring Trustee or Collateral Agent resigns or is removed, the retiring Trustee or
Collateral Agent (in each case, at the Issuer’s expense), the Issuer or the Holders of at least 10%
in aggregate principal amount of the then outstanding Notes may petition any court of competent
jurisdiction for the appointment of a successor Trustee or successor Collateral Agent, as the case
may be.

          (d) If the Trustee, after written request by any Holder who has been a Holder for at least six
months, fails to comply with Section 7.10, such Holder may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

          (e) A successor Trustee or successor Collateral Agent shall deliver a written acceptance of
its appointment to the retiring Trustee or Collateral Agent and to the Issuer. Thereupon, the
resignation or removal of the retiring Trustee or Collateral Agent shall become effective, and the
successor Trustee or Collateral Agent shall have all the rights, powers and duties of the Trustee
or the Collateral Agent under this Indenture. The successor Trustee or Collateral Agent shall mail
a notice of its succession to Holders. The retiring Trustee or Collateral Agent shall promptly
transfer all property held by it as Trustee or Collateral Agent to the successor Trustee or
Collateral Agent; provided that all sums owing to the Trustee or the Collateral Agent, as the case
may be, hereunder have been paid and such transfer shall be subject to the Lien provided for in
Section 7.07. Notwithstanding replacement of the Trustee or the Collateral Agent pursuant to this
Section 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the
retiring Trustee or Collateral Agent.

          (f) As used in this Section 7.08, the term “Trustee” shall also include each Agent.

          Section 7.09 Successor by Merger, etc.

          If the Trustee or the Collateral Agent consolidates, merges or converts into, or transfers all
or substantially all of its corporate trust business to, another corporation or national banking
association, the successor corporation or national banking association, without any further act
shall be the successor Trustee or Collateral Agent, subject to Section 7.10.

          Section 7.10 Eligibility; Disqualification.

          (a) There shall at all times be a Trustee hereunder that is a corporation or national banking
association organized and doing business under the laws of the United States of America or of any
state thereof that is authorized under such laws to exercise corporate trustee power, that is
subject to supervision or examination by federal or state authorities and that has a combined
capital and surplus of at least $50,000,000 as set forth in its most recent published annual report
of condition.

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          (b) This Indenture shall always have a Trustee who satisfies the requirements of Trust
Indenture Act Sections 310(a)(1), (2) and (5). The Trustee is subject to Trust Indenture Act
Section 310(b).

          Section 7.11 Preferential Collection of Claims Against the Issuer.

          The Trustee is subject to Trust Indenture Act Section 311(a), excluding any creditor
relationship listed in Trust Indenture Act Section 311(b). A Trustee who has resigned or been
removed shall be subject to Trust Indenture Act Section 311(a) to the extent indicated therein.

ARTICLE 8

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

          Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance.

          The Issuer may, at its option and at any time, elect to have either Section 8.02 or 8.03
applied to all outstanding Notes upon compliance with the conditions set forth below in this
Article 8.

          Section 8.02 Legal Defeasance and Discharge.

          (a) Upon the Issuer’s exercise under Section 8.01 of the option applicable to this Section
8.02, the Issuer and the Guarantors shall, subject to the satisfaction of the conditions set forth
in Section 8.04, be deemed to have been discharged from their obligations with respect to all
outstanding Notes and Guarantees on the date the conditions set forth below are satisfied
(“Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuer and the
Guarantors shall be deemed to have paid and discharged the entire Indebtedness represented by the
outstanding Notes, and the Note Guarantees, which shall thereafter be deemed to be “outstanding”
only for the purposes of Section 8.05 and the other Sections of this Indenture referred to in
clauses (1) and (2) below, and to have satisfied all of their other obligations under such Notes,
the Note Guarantees and this Indenture (and the Trustee, on written demand of and at the expense of
the Issuer, shall execute proper instruments acknowledging the same), except for the following
provisions which shall survive until otherwise terminated or discharged hereunder:

     (1) the rights of Holders of outstanding Notes issued under this Indenture to receive
payments in respect of the principal of, or interest or premium and Additional Interest, if
any, on such Notes when such payments are due from the trust created pursuant to this
Indenture referred to in Section 8.04;

     (2) the Issuer’s obligations with respect to the Notes issued under this Indenture
concerning issuing temporary Notes, registration of Notes, mutilated, destroyed, lost or
stolen Notes and the maintenance of an office or agency for payment and money for security
payments held in trust;

     (3) the rights, powers, trusts, duties and immunities of the Trustee, and the Issuer’s
and Guarantors’ obligations in connection therewith; and

     (4) this Section 8.02.

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          If the Issuer exercises the legal defeasance option, the Liens on the Collateral will be
released and the Note Guarantees in effect at such time will terminate.

          (b) Following the Issuer’s exercise of its Legal Defeasance option, payment of the Notes may
not be accelerated because of an Event of Default.

          (c) Subject to compliance with this Article 8, the Issuer may exercise its option under this
Section 8.02 notwithstanding the prior exercise of its option under Section 8.03.

          Section 8.03 Covenant Defeasance.

          Upon the Issuer’s exercise under Section 8.01 of the option applicable to this Section 8.03,
the Issuer and the Guarantors shall, subject to the satisfaction of the conditions set forth in
Section 8.04, be released from their obligations under the covenants contained in Sections 3.09,
4.03, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.14, 4.15, 4.16, 4.17 and 4.18, clauses (4) and (6) of
Section 5.01(a) and Section 9.07, with respect to the outstanding Notes, and the Guarantors shall
be deemed to have been discharged from their obligations with respect to all Guarantees, on and
after the date the conditions set forth in Section 8.04 are satisfied (“Covenant
Defeasance”), and the Notes shall thereafter be deemed not “outstanding” for the purposes of
any direction, waiver, consent or declaration or act of Holders (and the consequences of any
thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all
other purposes hereunder (it being understood that such Notes shall not be deemed outstanding for
accounting purposes). For this purpose, Covenant Defeasance means that, with respect to this
Indenture, the outstanding Notes and the Guarantees, the Issuer and the Guarantors may omit to
comply with and shall have no liability in respect of any term, condition or limitation set forth
in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein
to any such covenant or by reason of any reference in any such covenant to any other provision
herein or in any other document and such omission to comply shall not constitute a Default or an
Event of Default under Section 6.01, but, except as specified above, the remainder of this
Indenture, such Notes and such Guarantees shall be unaffected thereby. In addition, upon the
Issuer’s exercise under Section 8.01 of the option applicable to this Section 8.03, subject to the
satisfaction of the conditions set forth in Section 8.04, Sections 6.01(a)(2) (only to the extent
relating to Section 3.09, 4.10 and 4.14), 6.01(a)(3) (only to the extent due to the failure of the
Issuer to comply with Section 5.01(a)(4)), 6.01(a)(4) (only with respect to covenants that are
released as a result of such Covenant Defeasance), 6.01(a)(5), 6.01(a)(6) (solely with respect to
Restricted Subsidiaries that are Significant Subsidiaries or a group of Restricted Subsidiaries
that, taken together as of the date of the most recent audited consolidated financial statements of
the Issuer and its Restricted Subsidiaries, would constitute a Significant Subsidiary), 6.01(a)(7)
(solely with respect to Restricted Subsidiaries that are Significant Subsidiaries or a group of
Restricted Subsidiaries that, taken together as of the date of the most recent audited consolidated
financial statements of the Issuer and its Restricted Subsidiaries, would constitute a Significant
Subsidiary), 6.01(a)(8), 6.01(a)(9), 6.01(a)(10) and 6.01(a)(11), in each case shall not constitute
Events of Default.

          Section 8.04 Conditions to Legal or Covenant Defeasance.

          The following shall be the conditions to the exercise of either the Legal Defeasance option
under Section 8.02 or the Covenant Defeasance option under Section 8.03 with respect to the Notes:

     (1) the Issuer must irrevocably deposit with the Trustee, in trust, for the benefit of
the Holders issued thereunder, cash in U.S. dollars, non-callable U.S. Government
Securities, or a

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combination of cash in U.S. dollars and non-callable U.S. Government
Securities, in amounts as will be sufficient, in the opinion of a nationally recognized firm
of certified public accountants without consideration of any reinvestment of interest, to
pay the principal of, or interest and premium, if any, and Additional Interest, if any, on
the outstanding Notes issued thereunder on the Stated Maturity or on the applicable
redemption date, as the case may be, and the Issuer must specify whether the Notes are being
defeased to maturity or to a particular redemption date;

     (2) in the case of legal defeasance, the Issuer has delivered to the Trustee an Opinion
of Counsel of recognized standing with respect to U.S. federal income tax matters reasonably
acceptable to the Trustee confirming that (a) the Issuer has received from, or there has
been published by, the Internal Revenue Service a ruling or (b) since the date of the
Indenture, there has been a change in the applicable U.S. federal income tax law, in either
case to the effect that, and based thereon such Opinion of Counsel will confirm that, the
Holders of the respective outstanding Notes will not recognize income, gain or loss for U.S.
federal income tax purposes as a result of such legal defeasance and will be subject to U.S.
federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such legal defeasance had not occurred;

     (3) in the case of covenant defeasance, the Issuer has delivered to the Trustee an
Opinion of Counsel of recognized standing with respect to U.S. federal income tax matters
reasonably acceptable to the Trustee confirming that the Holders of the respective
outstanding Notes will not recognize income, gain or loss for U.S. federal income tax
purposes as a result of such covenant defeasance and will be subject to U.S. federal income
tax on the same amounts, in the same manner and at the same times as would have been the
case if such covenant defeasance had not occurred;

     (4) such legal defeasance or covenant defeasance will not result in a breach or
violation of, or constitute a default under any material agreement or instrument (other than
the Indenture) to which the Issuer or any of the Restricted Subsidiaries is a party or by
which the Issuer or any of the Restricted Subsidiaries is bound;

     (5) no Default or Event of Default has occurred and is continuing on the date of such
deposit and such legal defeasance or covenant defeasance shall not result in a breach or
violation of, or constitute a default under any Debt Facility or material agreement or
instrument to which the Issuer or any Restricted Subsidiary is a party or by which the
Issuer or any Restricted Subsidiary is bound (other than a Default or Event of Default
resulting from the borrowing of funds to be applied to such deposit and any similar and
simultaneous deposit relating to other Indebtedness and, in each case, the grant of any Lien
securing such borrowings);

     (6) the Issuer will have delivered to the Trustee an Opinion of Counsel to the effect
that, as of the date of such opinion and subject to customary assumptions and exclusions,
including, that no intervening bankruptcy of the Issuer between the date of deposit and the
91st day following the deposit and assuming that no Holder is an “insider” of the Company
under
applicable bankruptcy law, after the 91st day following the deposit, the trust funds
will not be subject to Section 547 of Title 11 of the U.S. Code;

     (7) the Issuer must deliver to the Trustee an Officers’ Certificate stating that the
deposit was not made by the Issuer with the intent of defeating, hindering, delaying or
defrauding creditors of the Issuer or others; and

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     (8) the Issuer must deliver to the Trustee an Officers’ Certificate and an
Opinion of Counsel (which Opinion of Counsel may be subject to customary assumptions and
exclusions), each to the effect that all conditions precedent relating to the Legal
Defeasance or the Covenant Defeasance have been complied with.

          Section 8.05 Deposited Money and U.S. Government Obligations to Be Held in Trust; Other
Miscellaneous Provisions.

          (a) Subject to Section 8.06, all money and U.S. Government Obligations (including the proceeds
thereof) deposited with the Trustee pursuant to Section 8.04 in respect of the outstanding Notes
shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes
and this Indenture, to the payment, either directly or through any Paying Agent (including the
Issuer or a Guarantor acting as Paying Agent) as the Trustee may determine, to the Holders of all
sums due and to become due thereon in respect of principal, premium, if any, and interest but such
money need not be segregated from other funds except to the extent required by law.

          (b) The Issuer and the Guarantors, jointly and severally, shall pay and indemnify the Trustee
against any tax, fee or other charge imposed on or assessed against the cash or U.S. Government
Obligations deposited pursuant to Section 8.04 or the principal and interest received in respect
thereof other than any such tax, fee or other charge which by law is for the account of the
Holders.

          (c) Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or
pay to the Issuer from time to time upon the request of the Issuer any money or U.S. Government
Obligations held by it as provided in Section 8.04 which, in the opinion of a nationally recognized
firm of certified public accountants, without consideration of any reinvestment of interest,
expressed in a written certification thereof delivered to the Trustee (which may be the opinion
delivered under Section 8.04(a)), are in excess of the amount thereof that would then be required
to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

          Section 8.06 Repayment to the Issuer.

          Subject to any applicable abandoned property law, any money deposited with the Trustee or any
Paying Agent, or then held by the Issuer, in trust for the payment of the principal of, premium, if
any, and Additional Interest, if any, on any Note and remaining unclaimed for two years after such
principal, premium, if any, or interest has become due and payable shall be paid to the Issuer on
its written request or (if then held by the Issuer) shall be discharged from such trust; and the
Holder of such Note shall thereafter look only to the Issuer for payment thereof, and all liability
of the Trustee or such Paying Agent with respect to such trust money, and all liability of the
Issuer as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such
Paying Agent, before being required to make any such repayment, shall at the expense of the Issuer
cause to be published once, in The New York Times or The Wall Street Journal (national edition),
notice that such money remains unclaimed and that, after a date specified therein, which shall not
be less than 30 days from the date of such notification or publication, any unclaimed balance of
such money then remaining shall be repaid to the Issuer.

          Section 8.07 Reinstatement.

          If the Trustee or Paying Agent is unable to apply any U.S. dollars or non-callable U.S.
Government Obligations in accordance with Section 8.02 or 8.03, as the case may be, by reason of
any order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting

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such application, then the Issuer’s and the Guarantors’ obligations under this Indenture, the
Notes and the Guarantees shall be revived and reinstated as though no deposit had occurred pursuant
to Section 8.02 or 8.03 until such time as the Trustee or Paying Agent is permitted to apply all
such money in accordance with Section 8.02 or 8.03, as the case may be; provided that, if the
Issuer makes any payment of principal of, premium, if any, or interest on any Note following the
reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders to
receive such payment from the money held by the Trustee or Paying Agent.

ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER

          Section 9.01 Without Consent of Holders.

          (a) Notwithstanding Section 9.02, without the consent of any Holder, the Issuer, the
Guarantors and the Trustee (and the Collateral Agent in the case of the Indenture, the Collateral
Documents and the Intercreditor Agreement) may execute and deliver the Supplemental Indenture for
Merger on the Issue Date and may amend or supplement this Indenture, the Notes, the Note
Guarantees, the Collateral Documents and the Intercreditor Agreement to:

     (1) cure any ambiguity, omission, defect or inconsistency;

     (2) provide for the assumption by a successor corporation of the obligations of the
Issuer or any Guarantor under this Indenture, the Notes, the Note Guarantees, the Collateral
Documents, the Registration Rights Agreement and the Intercreditor Agreement in accordance
with Section 5.01;

     (3) provide for uncertificated Notes in addition to or in place of certificated Notes;
provided that the uncertificated Notes are issued in registered form for purposes of Section
163(f) of the Code, or in a manner such that the uncertificated Notes are described in
Section 163(f)(2)(B) of the Code;

     (4) add Guarantees with respect to the Notes or release a Guarantor from its
obligations under its Note Guarantee or this Indenture in accordance with the applicable
provisions of this Indenture;

     (5) add Additional Assets as Collateral or grant any Lien in favor of the Collateral
Agent to secure the Notes and the Note Guarantees;

     (6) confirm and evidence the release, termination or discharge of any Guarantee or any
Lien with respect to or securing the Notes when such release, termination or discharge is
provided for in accordance with the terms of this Indenture, Collateral Documents or the
Intercreditor Agreement;

     (7) add to the covenants of the Issuer and its Restricted Subsidiaries, or Events of
Default for the benefit of the Holders or to make changes that would provide additional
rights to the Holders or surrender any right or power conferred upon the Issuer or any
Guarantor;

     (8) make any change that does not adversely affect the rights of any Holder;

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     (9) comply with any requirement of the SEC in connection with the qualification of this
Indenture under the Trust Indenture Act;

     (10) provide for the appointment of a successor Trustee or Collateral Agent; provided
that the successor Trustee or Collateral Agent is otherwise qualified and eligible to act as
such under the terms of this Indenture;

     (11) provide for or confirm the issuance of Additional Notes or Exchange Notes, in each
case, in accordance with the terms of this Indenture, and which shall be treated, together
with any outstanding Notes, as a single class of securities; or

     (12) conform the text of this Indenture, the Notes or the Note Guarantees to any
provision of the “Description of notes” section of the Offering Memorandum to the extent
that such provision in the “Description of notes” is intended to be a verbatim recitation of
a provision of this Indenture, the Notes or the Note Guarantees.

          (b) The Holders shall be deemed to have consented for purposes of the Collateral Documents and
the Intercreditor Agreement to any of the following amendments, waivers and other modifications to
the Collateral Documents and the Intercreditor Agreement:

     (1) (A) to add other parties (or any authorized agent thereof or trustee therefor)
holding Pari Passu Lien Obligations that are Incurred in compliance with the Credit
Agreement, this Indenture and the Collateral Documents and (B) to establish that the Liens
on any Collateral securing such Pari Passu Lien Obligations shall be pari passu under the
Intercreditor Agreement with the Liens on such Collateral securing the Obligations under
this Indenture and the Notes and junior and subordinated to the Liens on such Collateral
securing any obligations under the Credit Agreement, all on the terms provided for in the
Intercreditor Agreement as in effect immediately prior to such amendment;

     (2) (A) to add other parties (or any authorized agent thereof or trustee therefor)
holding Indebtedness that is Incurred under the Credit Agreement and in compliance with the
Credit Agreement and this Indenture and the Collateral Documents and (B) to establish that
the Liens on any Collateral securing such Indebtedness shall be pari passu under the
Intercreditor Agreement with the Liens on such Collateral securing the obligations under the
Credit Agreement and senior to the Liens on such Collateral securing any obligations under
this Indenture and the Notes, all on the terms provided for in the Intercreditor Agreement
in effect immediately prior to such amendment;

     (3) To effectuate the release of assets included in the Collateral from the Liens
securing the Notes in accordance with this Indenture if those assets are owned by a
Subsidiary Guarantor and that Subsidiary Guarantor is released from its Note Guarantee in
accordance with the terms of this Indenture;

     (4) to establish that the Liens on any Collateral securing any Indebtedness replacing
the Credit Agreement permitted to be incurred under Section 4.09(b)(1) that represents First
Priority Lien Obligations shall be senior to the Liens on such Collateral securing any
obligations under this Indenture, the Notes, the Exchange Notes and the Note Guarantees,
which obligations shall continue to be secured on a second-priority basis on the Collateral;
and

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     (5) upon any cancellation or termination of the Credit Agreement without a replacement
thereof, to establish that the Collateral shall become first-priority Collateral.

          Any such additional party and the Administrative Agent, the Trustee and the Collateral Agent
shall be entitled to conclusively rely upon an Officers’ Certificate certifying that such Pari
Passu Lien Obligations or Indebtedness, as the case may be, was issued or borrowed in compliance
with the Credit Agreement, this Indenture and the Collateral Documents.

          (c) Upon the request of the Issuer and upon receipt by the Trustee of the documents described
in Section 13.04, the Trustee shall join with the Issuer and the Guarantors in the execution of any
amended or supplemental indenture authorized or permitted by the terms of this Indenture and to
make any further appropriate agreements and stipulations that may be therein contained, but the
Trustee shall not be obligated to enter into such amended or supplemental indenture that affects
its own rights, duties or immunities under this Indenture or otherwise. Notwithstanding the
foregoing, no Opinion of Counsel shall be required in connection with the addition of a Guarantor
under this Indenture upon execution and delivery by such Guarantor and the Trustee of a
supplemental indenture to this Indenture, the form of which is attached as Exhibit C hereto, and
delivery of an Officers’ Certificate, except as provided in Section 5.01(c), or in connection with
the execution and delivery of the Supplemental Indenture for Merger on the Issue Date.

          Section 9.02 With Consent of Holders.

          (a) Except as provided in Section 9.01 and 9.02(f), the Issuer, the Guarantors, the Trustee
and the Collateral Agent may amend or supplement this Indenture, the Notes, the Note Guarantees,
the Collateral Documents and the Intercreditor Agreement with the consent of the Holders of a
majority in principal amount of the Notes (including Additional Notes, if any) then outstanding
voting as a single class (including, without limitation, consents obtained in connection with a
purchase of, or tender offer or exchange offer for, Notes), and any existing Default or Event of
Default (other than a Default or Event of Default in the payment of the principal of, premium, if
any, or interest on the Notes, except a payment default resulting from an acceleration that has
been rescinded) or compliance with any provision of this Indenture, the Notes, the Note Guarantees,
the Collateral Documents and the Intercreditor Agreement may be waived with the consent of the
Holders of a majority in aggregate principal amount of the then outstanding Notes (including
Additional Notes, if any) voting as a single class (including consents obtained in connection with
the purchase of, or tender offer or exchange offer for, Notes). Section 2.08 and Section 2.09
shall determine which Notes are considered to be “outstanding” for the purposes of this Section
9.02.

          (b) Upon the request of the Issuer and upon the filing with the Trustee of evidence
satisfactory to the Trustee of the consent of the Holders as aforesaid, and upon receipt by the
Trustee of the documents described in Section 13.04, the Trustee shall join with the Issuer and the
Guarantors in the execution of such amended or supplemental indenture unless such amended or
supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated
to, enter into such amended or supplemental indenture.

          (c) It shall not be necessary for the consent of the Holders under this Section 9.02 to
approve the particular form of any proposed amendment, supplement or waiver, but it shall be
sufficient if such consent approves the substance thereof.

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          (d) After an amendment, supplement or waiver under this Section 9.02 becomes effective, the
Issuer shall mail to the Holders of Notes affected thereby a notice briefly describing the
amendment, supplement or waiver. Any failure of the Issuer to mail such notice, or any defect
therein, shall not, however, in any way impair or affect the validity of any such amended or
supplemental indenture or waiver.

          (e) Without the consent of each affected Holder, an amendment, supplement or waiver under this
Section 9.02 may not (with respect to any Notes held by a non-consenting Holder):

     (1) reduce the principal amount of Notes whose Holders must consent to an amendment,
supplement or waiver;

     (2) reduce the stated rate of interest or extend the time for payment of interest on
any Note;

     (3) reduce the principal of or extend the Stated Maturity of any Note;

     (4) reduce the premium payable upon the redemption or repurchase of any Note or change
the date on which any Note may be redeemed or repurchased pursuant to Section 3.07, 4.10 or
4.14;

     (5) make any Note payable in money other than that stated in such Note;

     (6) impair the right of any Holder to receive payment of principal, premium, if any,
and interest on such Holder’s Notes on or after the due dates therefor or to institute suit
for the enforcement of any payment on or with respect to such Holder’s Notes (it being
understood that a waiver of a Default or Event of Default in the payment of principal of or
interest or premium or Additional Interest, if any, on the Notes issued hereunder is not
permitted to impair the rights of non-consenting Holders);

     (7) make any change in the amendment provisions that require each Holder’s consent or
in the waiver provisions; or

     (8) modify the Note Guarantees in any manner, materially adverse to the Holders or
release any Guarantor from any of its obligations under its Note Guarantee or this
Indenture, except in compliance with the terms hereof.

          (f) In addition, without the consent of the Holders of at least 66 2/3% in principal amount of
Notes then outstanding (including, without limitation, consents obtained in connection with a
purchase of, or tender offer or exchange offer for, Notes), no amendment, supplement or waiver may:

     (1) modify any Collateral Document or the provisions in this Indenture dealing with
Collateral Documents or application of trust moneys in any manner, taken as a whole,
materially adverse to the Holders or otherwise release any Collateral other than in
accordance with this Indenture, the Collateral Documents and the Intercreditor Agreement; or

     (2) modify the Intercreditor Agreement in any manner adverse to the Holders in any
material respect other than in accordance with the terms of this Indenture, the Collateral
Documents and the Intercreditor Agreement.

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          (g) A consent to any amendment, supplement or waiver of this Indenture, any Guarantee and the
Notes by any Holder given in connection with a tender of such Holder’s Notes shall not be rendered
invalid by such tender.

          Section 9.03 Compliance with Trust Indenture Act.

          If this Indenture is qualified under the Trust Indenture Act, every amendment or supplement to
this Indenture or the Notes shall be set forth in an amended or supplemental indenture that
complies with the Trust Indenture Act as then in effect.

          Section 9.04 Revocation and Effect of Consents.

          (a) Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of
a Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or
portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of
the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a
Note may revoke the consent as to its Note if the Trustee receives written notice of revocation
before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or
waiver becomes effective in accordance with its terms and thereafter binds every Holder.

          (b) The Issuer may, but shall not be obligated to, fix a record date pursuant to Section 1.05
for the purpose of determining the Holders entitled to consent to any amendment, supplement, or
waiver.

          Section 9.05 Notation on or Exchange of Notes.

          (a) The Trustee may place an appropriate notation about an amendment, supplement or waiver on
any Note thereafter authenticated. The Issuer in exchange for all Notes may issue and the Trustee
shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment,
supplement or waiver.

          (b) Failure to make the appropriate notation or issue a new Note shall not affect the validity
and effect of such amendment, supplement or waiver.

          Section 9.06 Trustee and Collateral Agent to Sign Amendments, etc.

          The Trustee or the Collateral Agent, as the case may be, shall sign any amendment, supplement
or waiver authorized pursuant to this Article 9 if the amendment or supplement does not adversely
affect the rights, duties, liabilities or immunities of the Trustee or the Collateral Agent, as the
case may be. In executing any amendment, supplement or waiver, the Trustee and the Collateral
Agent shall be entitled to receive and (subject to Section 7.01) shall be fully protected in
conclusively relying upon an Officers’ Certificate and an Opinion of Counsel (except as provided in
the last sentence of Section 9.01(b)) stating that the execution of such amended or supplemental
indenture is authorized or permitted by this Indenture and that such amendment, supplement or
waiver is the legal, valid and binding obligation of the Issuer and any Guarantor party thereto,
enforceable against them in accordance with its terms, subject to customary exceptions, and
complies with the provisions hereof (including Section 9.03).

          Section 9.07 Payments for Consent.

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          The Issuer and the Guarantors shall not, and shall not permit any of its Subsidiaries to,
directly or indirectly, pay or cause to be paid any consideration to or for the benefit of any
Holder of any Notes for or as an inducement to any consent, waiver or amendment of any of the terms
or provisions of this Indenture or the Notes unless such consideration is offered to be paid and is
paid to all Holders of the Notes that consent, waive or agree to amend in the time frame set forth
in the solicitation documents relating to such consent, waiver or amendment.

ARTICLE 10

COLLATERAL AND SECURITY

          Section 10.01 The Collateral.

          (a) The due and punctual payment of the principal of, premium, if any, and interest on the
Notes and the Note Guarantees thereof when and as the same shall be due and payable, whether on an
Interest Payment Date, at maturity, by acceleration, repurchase, redemption or otherwise, interest
on the overdue principal of and interest (to the extent permitted by law), if any, on the Notes and
the Note Guarantees thereof and performance of all other obligations under this Indenture,
including, without limitation, the obligations of the Issuer set forth in Section 7.07 and Section
8.05(b) herein, and the Notes and the Guarantees thereof and the Collateral Documents, shall be
secured by second-priority Liens and security interests, in each case subject to Permitted Liens,
as provided in the Collateral Documents which the Issuer and the Guarantors, as the case may be,
have entered into simultaneously with the execution of this Indenture and will be secured by and as
provided in all Collateral Documents hereafter delivered as required or permitted by this
Indenture, the Collateral Documents and the Intercreditor Agreement. The Issuer and the Guarantors
hereby agree that the Collateral Agent shall hold the Collateral in trust for the benefit of all of
the Holders and the Trustee, in each case pursuant to the terms of the Collateral Documents and the
Intercreditor Agreement, and the Collateral Agent is hereby authorized to execute and deliver the
Collateral Documents and the Intercreditor Agreement. Wells Fargo Bank, National Association is
hereby appointed as the initial Collateral Agent.

          (b) Each Holder, by its acceptance of any Notes and the Note Guarantees thereof, consents and
agrees to the terms of the Collateral Documents and the Intercreditor Agreement (including, without
limitation, the provisions providing for certain limitations on rights to foreclosure and consents
to release of Collateral) as the same may be in effect or may be amended from time to time in
accordance with their terms and the terms of this Indenture, agrees to the appointment of the
Collateral Agent and authorizes and directs the Collateral Agent to enter into the Collateral
Documents and the Intercreditor Agreement and to perform its obligations and exercise its rights
under the Collateral Documents and the Intercreditor Agreement in accordance therewith.

          (c) The Trustee and each Holder, by accepting the Notes and the Guarantees thereof,
acknowledges that, as more fully set forth in the Collateral Documents and the Intercreditor
Agreement, the Collateral as now or hereafter constituted shall be held for the benefit of all the
Holders and the Trustee, and that the Lien of this Indenture and the Collateral Documents in
respect of the Trustee and the Holders is subject to and qualified and limited in all respects by
the Collateral Documents and the Intercreditor Agreement and actions that may be taken thereunder.

          Section 10.02 Further Assurances.

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          (a) The Issuer and the Guarantors shall, at their sole expense, do or cause to be done all
acts and things which may be reasonably necessary, and do such acts if requested by the Trustee or
the Collateral Agent, to confirm that the Collateral Agent holds, for the benefit of the Holders of
the Notes and the Note Guarantees thereof and the Trustee, duly created, enforceable and perfected
second-priority Liens and security interests in the Collateral (subject to Permitted Liens) to the
extent required by this Indenture, the Collateral Documents and the Intercreditor Agreement.

          (b) As necessary, or upon request of the Trustee, the Issuer and the Guarantors shall, at
their sole expense, execute, acknowledge and deliver such Collateral Documents, the Intercreditor
Agreement, instruments, certificates, notices and other documents and take such other actions as
shall be necessary or which the Collateral Agent or the Trustee may reasonably request to create,
perfect, protect, assure, transfer, confirm or enforce the Liens and benefits intended to be
conferred as contemplated by this Indenture, the Collateral Documents and the Intercreditor
Agreement for the benefit of the Holders of the Notes and the Guarantees thereof and the Trustee,
including with respect to after-acquired Collateral, to the extent required hereunder and
thereunder. If the Issuer or such Guarantor fails to do so, the Trustee and the Collateral Agent
are hereby irrevocably authorized and empowered, with full power of substitution, to execute,
acknowledge and deliver such Collateral Documents, the Intercreditor Agreement, instruments,
certificates, notices and other documents and, subject to the provisions of the Collateral
Documents and the Intercreditor Agreement, take such other actions in the name, place and stead of
the Issuer or such Guarantor, but neither the Trustee nor the Collateral Agent will have any
obligation to do so or any liability for any action taken or omitted by it in good faith in
connection therewith.

          Section 10.03 After-Acquired Property.

          Upon the acquisition by any of the Issuer or Guarantors after the Issue Date of (1) any
after-acquired assets, including, but not limited to, any owned real property that qualifies as
Collateral and as a Premises pursuant to Section 10.05 (“Qualified After-Acquired Real Property”),
(2) any equipment or fixtures which constitute accretions, additions or technological upgrades to
the equipment or fixtures or any working capital assets that, in any case, form part of the
Collateral or (3) any material Additional Assets in compliance with the covenant described under
Section 4.10, such Issuer or such Guarantor shall, except with respect to Excluded Assets, execute
and deliver (i) with regard to Qualified After-Acquired Real Property, the applicable items
described under Section 10.05 as soon as reasonably practicable but in any event within 90 days
after the date of acquisition of such Qualified After-Acquired Real Property and (ii) with respect
to any other after-acquired property, to the extent required by the Collateral Documents, any
information, documentation, financing statements or other certificates as may be necessary to vest
in the Collateral Agent a perfected security interest, subject only to Permitted Liens, in such
after-acquired property (other than Excluded Assets) and to have such after-acquired property added
to the Collateral, and thereupon all provisions of the Indenture relating to the Collateral shall
be deemed to relate to such after-acquired property to the same extent and with the same force and
effect.

          Section 10.04 Impairment of Security Interest.

          Neither the Issuer nor any of its Restricted Subsidiaries shall take or omit to take any
action which would materially adversely affect or impair the Liens in favor of the Collateral Agent
and the Holders of the Notes with respect to the Collateral. Neither the Issuer nor any of its
Restricted Subsidiaries shall grant to any Person, or permit any Person to retain (other than the
Administrative Agent and the Collateral Agent), any interest whatsoever in the Collateral, other
than Permitted Liens. Neither the Issuer nor any of its Restricted Subsidiaries shall enter into
any agreement that requires the proceeds received from any sale of Collateral to be applied to
repay, redeem, defease or otherwise acquire or retire

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any Indebtedness of any Person in a manner that conflicts with this Indenture, the Notes, the
Note Guarantees, the Collateral Documents, and the Intercreditor Agreement. The Issuer shall, and
shall cause each Guarantor to, at its sole cost and expense, execute and deliver all such
agreements and instruments as necessary, or as the Trustee or the Collateral Agent shall reasonably
request, to more fully or accurately describe the assets and property intended to be Collateral or
the obligations intended to be secured by the Collateral Documents.

          Section 10.05 Real Estate Mortgages and Filings.

          With respect to (a) the real property described on Schedule 1 attached hereto (individually
and collectively, the “Current Premises”); (b) any fee interest in any individual real property
acquired by the Issuer or a Guarantor after the Issue Date (i) having a value (based on the
purchase price plus actual improvement costs) of at least $1.5 million and (ii) owned by the Issuer
or such Guarantor for 12 months (individually and collectively, the “After-Acquired Threshold
Premises”) or (c) to the extent that the aggregate value of all real property owned by the Issuer
and the Guarantors (based on the purchase price plus actual improvement costs), excluding both the
Current Premises and the After-Acquired Threshold Premises, not then subject to a Mortgage in favor
of the Collateral Agent (the “Sub-Threshold Properties”) exceeds $10.0 million in the aggregate,
any fee interest in any one or more Sub-Threshold Properties such that the remaining Sub-Threshold
Properties have an aggregate value of not more than $10.0 million; provided that the Issuer may
select the individual Sub-Threshold Properties to become subject to a Mortgage in its sole
discretion (any such Sub-Threshold Properties so selected by the Issuer, together with the Current
Premises and the After-Acquired Threshold Premises, the “Premises”), as soon as reasonably
practicable but in any event within 90 days of the Issue Date, in the case of the Current Premises,
and as soon as reasonably practicable but in any event within 90 days of the date such Premises
meets the requirements of clauses (b) or (c) above, as applicable:

     (1) the Issuer or the applicable Guarantor shall deliver to the Collateral Agent, as
mortgagee or beneficiary, as applicable, for the ratable benefit of itself and the Holders,
fully executed counterparts of Mortgages, each dated within 90 days of the Issue Date or the
date such Premises met the requirements of clauses (b) or (c) of this Section 10.05, as
applicable, duly executed by the Issuer or the applicable Guarantor, together with
satisfactory evidence of the completion (or satisfactory arrangements for the completion) of
all recordings and filings of such Mortgage (and payment of any taxes or fees in connection
therewith) together with any necessary fixture filings, as may be necessary to create a
valid, perfected at least second-priority Lien, subject to Permitted Liens, against the
Premises purported to be covered thereby;

     (2) the Collateral Agent shall have received mortgagee’s title insurance policies in
favor of the Collateral Agent, and its successors and/or assigns, in the form necessary,
with respect to the property purported to be covered by the applicable Mortgages, to insure
that the interests created by the Mortgages constitute valid and at least second priority
Liens thereon free and clear of all Liens, defects and encumbrances, other than Permitted
Liens, all such title insurance policies to be in amounts equal to 110% of the estimated
fair market value of the Premises covered thereby, and such policies shall also include, to
the extent available, all such endorsements as shall be reasonably required and shall be
accompanied by evidence of the payment in full of all premiums thereon (or that satisfactory
arrangements for such payment have been made); and

     (3) the Issuer or the applicable Guarantor shall deliver to the Collateral Agent, with
respect to each of the Premises, such filings, surveys (and any updates or affidavits that
the title

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company may reasonably require in connection with the issuance of the title insurance
policies), local counsel opinions, flood hazard determinations and any required flood
insurance, along with such other documents, instruments, certificates, agreements, and any
other documents necessary to comply with clauses (1) and (2) above and to perfect the
Collateral Agent’s security interest and second priority Lien in such Premises.

     Notwithstanding anything to the contrary, if, within 90 days of the Issue Date the Issuer and
the Guarantors are in compliance with clauses (1) through (3) above with respect to some, but not
all, of the Current Premises, a Default shall not be deemed to occur if the Current Premises for
which the Issuer and the Guarantors have complied with the foregoing clauses represent equal to or
greater than 90% of the aggregate gross value of all Current Premises (based on the purchase price
plus actual or projected improvement costs), so long as the Issuer and the Guarantors continue to
use commercially reasonable efforts to satisfy such requirements.

          Section 10.06 Release of Liens on the Collateral.

          (a) The Liens on the Collateral will be released with respect to the Notes and the Note
Guarantees, as applicable:

     (1) in whole, upon payment in full of the principal of, accrued and unpaid interest,
including Additional Interest, if any, and premium, if any, on the Notes;

     (2) in whole, upon satisfaction and discharge of this Indenture as set forth in
Section 12.01 hereof;

     (3) in whole, upon a Legal Defeasance or Covenant Defeasance as set forth in Article 8
hereof;

     (4) in part, as to any property constituting Collateral:

     (A) that is sold or otherwise disposed of by the Issuer or any of the
Guarantors in a transaction permitted by Section 4.10 or Section 4.18 and by the
Collateral Documents (to the extent of the interest sold or disposed of) or
otherwise permitted by this Indenture and the Collateral Documents;

     (B) that is cash used in the ordinary course of its business or cash or Net
Available Cash used for any one or more purposes permitted by Section 4.10(1); or

     (C) otherwise in accordance with, or as expressly provided for under, this
Indenture, the Intercreditor Agreement, or the Collateral Documents;

     (5) in whole as to all Collateral that is owned by a Guarantor that is released from
its Note Guarantee in accordance with this Indenture;

     (6) in whole or in part, with the consent of Holders of sixty-six and two-thirds
percent (66 2/3%) in aggregate principal amount of the Notes (including, without limitation,
consents obtained in connection with a tender offer or exchange offer for, or purchase of,
Notes); and

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     (7) upon the taking of Collateral by eminent domain, condemnation or in similar
circumstances; provided that any compensation received with respect to such taking is
applied in accordance with Section 4.10(1).

provided, that, in the case of any release in whole pursuant to clauses (1) through (3) above, all
amounts owing to the Trustee under this Indenture, the Notes, the Note Guarantees, the Collateral
Documents, and the Intercreditor Agreement have been paid or otherwise provided for to the
reasonable satisfaction of the Trustee.

          (b) With respect to the release of Premises, the Issuer or the Guarantors, as the case may be,
will furnish to the Trustee, prior to each proposed release of Collateral pursuant to the
Collateral Documents and this Indenture:

     (1) an Officers’ Certificate requesting such release;

     (2) an Officers’ Certificate to the effect that all conditions precedent provided for
in this Indenture and the Collateral Documents to such release have been complied with;

     (3) a form of such release (which release shall be in form reasonably satisfactory to
the Trustee and shall provide that the requested release is without recourse or warranty to
the Trustee).

     provided, that no Officers’ Certificate pursuant to clauses (1) and (2) above shall be
required for the release of a Lien on Collateral that is sold or pledged in the ordinary course of
business to the extent such sale or pledge is permitted by this Indenture.

          Upon compliance by the Issuer or the Guarantors, as the case may be, with the conditions
precedent set forth above, the Trustee or the Collateral Agent shall promptly cause to be released
and reconveyed to the Issuer, or the Guarantors, as the case may be, the released Collateral and,
if necessary, the Collateral Agent shall, at the Issuer’s expense, cause to be filed such documents
or instruments (that are prepared by the Issuer and provided to the Collateral Agent) as shall be
necessary to provide for the release by the Collateral Agent of the released Collateral.

          (c) The Issuer shall comply with the applicable provisions of the Trust Indenture Act as they
relate to the Collateral. As long as this Indenture is qualified under the Trust Indenture Act, the
Issuer shall comply with Section 313(b) and Section 314(d) of the Trust Indenture Act. Any
certificate or opinion required by Section 314(d) of the Trust Indenture Act may be made by an
Officer of the Issuer except in cases where Section 314(d) requires that such certificate or
opinion be made by an independent engineer, appraiser or other expert, who shall be reasonably
satisfactory to the Trustee. Notwithstanding anything to the contrary in this Section 10.06(c), the
Issuer shall not be required to comply with all or any portion of Section 314(d) of the Trust
Indenture Act if it determines, in good faith based on advice of counsel (which may be internal
counsel), that under the terms of Section 314(d) and/or any interpretation or guidance as to the
meaning thereof of the SEC and its staff, including “no action” letters or exemptive orders, all or
any portion of Section 314(d) is inapplicable to one or a series of released Collateral.

          Section 10.07 Authorization of Actions to be Taken by the Trustee or the Collateral Agent
Under the Collateral Documents.

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          (a) Subject to the provisions of the Collateral Documents and the Intercreditor Agreement,
each of the Trustee or the Collateral Agent may, in its sole discretion and without the consent of
the Holders, on behalf of the Holders, take all actions it deems necessary or appropriate in order
to (a) enforce any of its rights or any of the rights of the Holders under the Collateral Documents
and the Intercreditor Agreement and (b) collect and receive any and all amounts payable in respect
of the Collateral in respect of the obligations of the Issuer and the Subsidiaries hereunder and
thereunder. Subject to the provisions of the Collateral Documents and the Intercreditor Agreement,
the Trustee or the Collateral Agent shall have the power to institute and to maintain such suits
and proceedings as it may deem expedient to prevent any impairment of the Collateral by any acts
that may be unlawful or in violation of the Collateral Documents, the Intercreditor Agreement, or
this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem
expedient to preserve or protect its interest and the interests of the Holders in the Collateral
(including power to institute and maintain suits or proceedings to restrain the enforcement of or
compliance with any legislative or other governmental enactment, rule or order that may be
unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment,
rule or order would impair the security interest hereunder or be prejudicial to the interests of
the Holders or the Trustee).

          (b) The Trustee or the Collateral Agent shall not be responsible for the existence,
genuineness or value of any of the Collateral or for the validity, perfection, priority or
enforceability of the Liens in any of the Collateral, whether impaired by operation of law or by
reason of any action or omission to act on its part hereunder, except to the extent such action or
omission constitutes negligence or willful misconduct on the part of the Trustee or the Collateral
Agent, for the validity or sufficiency of the Collateral or any agreement or assignment contained
therein, for the validity of the title of the Issuer to the Collateral, for insuring the Collateral
or for the payment of taxes, charges, assessments or Liens upon the Collateral or otherwise as to
the maintenance of the Collateral. The Trustee or the Collateral Agent shall have no responsibility
for recording, filing, re-recording or refiling any financing statement, continuation statement,
document, instrument or other notice in any public office at any time or times or to otherwise take
any action to perfect or maintain the perfection of any security interest granted to it under the
Collateral Documents or otherwise.

          (c) Where any provision of this Indenture requires that additional property or assets be added
to the Collateral, the Issuer and each Guarantor shall deliver to the Trustee or the Collateral
Agent the following:

     (A) a request from the Issuer that such Collateral be added;

     (B) the form of instrument adding such Collateral, which, based on the type and
location of the property subject thereto, shall be in substantially the form of the
applicable Collateral Documents entered into on the date of this Indenture, with
such changes thereto as the Issuer shall consider appropriate, or in such other form
as the Issuer shall deem proper; provided that any such changes or such form are
administratively satisfactory to the Trustee or the Collateral Agent; and

     (C) such financing statements, if any, as the Issuer shall deem necessary to
perfect the Collateral Agent’s security interest in such Collateral.

          (d) The Trustee or the Collateral Agent, in giving any consent or approval under the
Collateral Documents or the Intercreditor Agreement, shall be entitled to receive, as a condition
to such consent or approval, an Officers’ Certificate and an Opinion of Counsel to the effect that
the action or

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omission for which consent or approval is to be given does not adversely affect the interests
of the Holders or impair the security of the Holders in contravention of the provisions of this
Indenture, the Collateral Documents and the Intercreditor Agreement, and the Trustee or the
Collateral Agent shall be fully protected in giving such consent or approval on the basis of such
Officers’ Certificate and Opinion of Counsel.

          Section 10.08 Rule 3-16 of Regulation S-X.

          (a) Notwithstanding anything to the contrary set forth in this Article 10 or any Collateral
Document, in the event that Rule 3-16 of Regulation S-X under the Securities Act requires or would
require (or is replaced with another rule or regulation, or any other law, rule or regulation is
adopted, which would require) the filing with the SEC (or any other governmental agency) of
separate financial statements of the Issuer or any Subsidiary of the Issuer due to the fact that
the Issuer’s or such Subsidiary’s Capital Stock secures the Notes, then the Capital Stock of the
Issuer or such Subsidiary shall automatically be deemed not to be part of the Collateral, but only
to the extent necessary to not be subject to such requirement. In such event, the Collateral
Documents may be amended or modified, without the consent of any Holder, to the extent necessary to
evidence the release of Liens securing the Notes and the Note Guarantees on the shares of Capital
Stock that are so deemed to no longer constitute part of the Collateral and the Trustee and
Collateral Agent are hereby authorized by each Holder to execute, or to authorize the execution of
or the filing of, any agreement, document or instrument in order to evidence such release or to
otherwise give effect to this Section 10.08.

          (b) In the event that Rule 3-16 of Regulation S-X under the Securities Act is amended,
modified or interpreted by the SEC to permit (or is replaced with another rule or regulation, or
any other law, rule or regulation is adopted, which would permit) the Issuer’s or such Subsidiary’s
Capital Stock to secure the Notes in excess of the amount then pledged without the filing with the
SEC (or any other governmental agency) of separate financial statements of the Issuer or such
Subsidiary, then the Capital Stock of the Issuer or such Subsidiary, as applicable, shall
automatically be deemed to be a part of the Collateral but only to the extent necessary to not be
subject to any such financial statement requirement (and, in such event, the Collateral Documents
may be amended or modified, without the consent of any Holder of the Notes, to the extent necessary
to subject to the Liens under the Collateral Documents such additional Capital Stock) and the
Issuer or such Subsidiary, as applicable, shall take all such necessary steps to effectuate such
Lien.

          Section 10.09 Control Agreements.

          (a) As soon as practicable, but in any event no longer than 90 days after the Issue Date, the
Issuer and the Guarantors shall execute and deliver to the Collateral Agent the Account Control
Agreements, in each case as required by the Security Agreement and shall otherwise comply with the
requirements of the Security Agreement with respect to Account Control Agreements.

          Section 10.10 Information Regarding Collateral.

          (a) The Issuer shall furnish to the Collateral Agent, with respect to the Issuer or any
Guarantor, promptly (and in any event within 30 days after such change) written notice of any
change in such Person’s (i) legal name, (ii) jurisdiction of organization or formation, (iii)
identity or corporate structure or (iv) Organizational Identification Number. The Issuer and the
Guarantors agree not to effect or permit any change referred to in the preceding sentence unless
all filings have been made under the Uniform Commercial Code or otherwise that are required in the
Collateral Documents in order for the

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Collateral to be made subject to the Lien of the Collateral Agent under the Collateral
Documents in the manner and to the extent required by the Indenture or any of the Collateral
Documents and shall take all necessary action so that such Lien is perfected with the same priority
as immediately prior to such change to the extent required by the Collateral Documents. The Issuer
also agrees promptly to notify the Collateral Agent in writing if any material portion of the
Collateral is damaged, destroyed or condemned.

          Section 10.11 Maintenance of Collateral.

          (a) The Issuer and the Guarantors shall maintain the Collateral that is material to the
conduct of their respective businesses in good, safe, and insurable operating order, condition, and
repair (ordinary wear and tear excepted) and do all other acts as may be reasonably necessary or
appropriate to maintain and preserve such Collateral; and the Issuer and the Guarantors shall pay
all real estate and other taxes with respect to such Collateral, and maintain in full force and
effect all material permits and insurance in amounts and that insures against such losses and risks
as are reasonable for the type and size of the business conducted by the Issuer and the Guarantors;
in each case, subject to the applicable provisions of the Collateral Documents.

          Section 10.12 Intercreditor Agreement.

          This Article 10 of the Indenture and the provisions of each Collateral Document are subject to
the terms, limitations and conditions set forth in the Intercreditor Agreement.

ARTICLE 11

GUARANTEES

          Section 11.01 Guarantee.

          (a) Subject to this Article 11, each of the Guarantors hereby, jointly and severally,
irrevocably and unconditionally Guarantees, on a senior secured basis, to each Holder and to the
Trustee (on behalf of each such Holder) and its successors and assigns, that: (1) the principal of,
premium, if any, and interest on the Notes shall be promptly paid in full when due, whether at
Stated Maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of
and interest on the Notes, if any, if lawful, and all other Obligations of the Issuer to the
Holders or the Trustee hereunder or under the Notes shall be promptly paid in full or performed,
all in accordance with the terms hereof and thereof; and (2) in case of any extension of time of
payment or renewal of any Notes or any of such other obligations, that same shall be promptly paid
in full when due or performed in accordance with the terms of the extension or renewal, whether at
Stated Maturity, by acceleration or otherwise. Failing payment by the Issuer when due of any
amount so Guaranteed or any performance so Guaranteed for whatever reason, the Guarantors shall be
jointly and severally obligated to pay the same immediately. Each Guarantor agrees that this is a
Guarantee of payment and not a Guarantee of collection.

          (b) The Guarantors hereby agree that their obligations hereunder shall be unconditional,
irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the
absence of any action to enforce the same, any waiver or consent by any Holder with respect to any
provisions hereof or thereof, the recovery of any judgment against the Issuer, any action to
enforce the same or any other circumstance which might otherwise constitute a legal or equitable
discharge or defense of a guarantor. Each Guarantor hereby waives diligence, presentment, demand
of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Issuer,
any right to require a

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proceeding first against the Issuer, protest, notice and all demands whatsoever and covenants
that this Note Guarantee shall not be discharged except by complete performance of the obligations
contained in the Notes and this Indenture, or pursuant to Section 11.06.

          (c) Each Guarantor also agrees, jointly and severally, to pay any and all costs and expenses
(including reasonable attorneys’ fees and expenses) incurred by the Trustee, or any Holder in
enforcing any rights under this Section 11.01.

          (d) If any Holder or the Trustee is required by any court or otherwise to return to the
Issuer, the Guarantors or any custodian, trustee, liquidator or other similar official acting in
relation to the Issuer or the Guarantors, any amount paid either to the Trustee, or such Holder,
this Note Guarantee, to the extent theretofore discharged, shall be reinstated in full force and
effect.

          (e) Each Guarantor agrees that it shall not be entitled to any right of subrogation in
relation to the Holders in respect of any obligations Guaranteed hereby until payment in full of
all obligations Guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors,
on the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the
obligations Guaranteed hereby may be accelerated as provided in Article 6 for the purposes of this
Note Guarantee, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations Guaranteed hereby, and (2) in the event of any
declaration of acceleration of such obligations as provided in Article 6, such obligations (whether
or not due and payable) shall forthwith become due and payable by the Guarantors for the purpose of
this Note Guarantee. The Guarantors shall have the right to seek contribution from any non-paying
Guarantor so long as the exercise of such right does not impair the rights of the Holders under the
Note Guarantees.

          (f) Each Note Guarantee shall remain in full force and effect and continue to be effective
should any petition be filed by or against the Issuer for liquidation or reorganization, should the
Issuer become insolvent or make an assignment for the benefit of creditors or should a receiver or
trustee be appointed for all or any significant part of the Issuer’s assets, and shall, to the
fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if
at any time payment and performance of the Notes are, pursuant to applicable law, rescinded or
reduced in amount, or must otherwise be restored or returned by any obligee on the Notes or the
Guarantees, whether as a “voidable preference,” “fraudulent transfer” or otherwise, all as though
such payment or performance had not been made. In the event that any payment or any part thereof,
is rescinded, reduced, restored or returned, the Notes shall, to the fullest extent permitted by
law, be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced,
restored or returned.

          (g) In case any provision of any Note Guarantee shall be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby.

          (h) Each payment to be made by a Guarantor in respect of its Note Guarantee shall be made
without set-off, counterclaim, reduction or diminution of any kind or nature.

          Section 11.02 Limitation on Guarantor Liability.

          Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the
intention of all such parties that the Note Guarantee of such Guarantor not constitute a fraudulent
transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the

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Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable
to any Note Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the
Guarantors hereby irrevocably agree that the obligations of each Guarantor shall be limited to the
maximum amount as will, after giving effect to such maximum amount and all other contingent and
fixed liabilities of such Guarantor (including with respect to the Credit Agreement) that are
relevant under such laws and after giving effect to any collections from, rights to receive
contribution from or payments made by or on behalf of any other Guarantor in respect of the
obligations of such other Guarantor under this Article 11, result in the obligations of such
Guarantor under its Note Guarantee not constituting a fraudulent conveyance or fraudulent transfer
under applicable law. Each Guarantor that makes a payment under its Note Guarantee shall be
entitled upon payment in full of all Obligations under this Indenture to a contribution from each
other Guarantor in an amount equal to such other Guarantor’s pro rata portion of such payment based
on the respective net assets of all the Guarantors at the time of such payment determined in
accordance with GAAP.

          Section 11.03 Execution and Delivery.

          (a) To evidence its Note Guarantee set forth in Section 11.01, each Guarantor hereby agrees
that this Indenture shall be executed on behalf of such Guarantor by an Officer or person holding
an equivalent title.

          (b) Each Guarantor hereby agrees that its Note Guarantee set forth in Section 11.01 shall
remain in full force and effect notwithstanding the absence of the endorsement of any notation of
such Note Guarantee on the Notes.

          (c) If an Officer whose signature is on this Indenture no longer holds that office at the time
the Trustee authenticates the Note, the Guarantees shall be valid nevertheless.

          (d) The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the Note Guarantee set forth in this Indenture on behalf of the
Guarantors.

          (e) If required by Section 4.15, the Issuer shall cause any newly created or acquired
Restricted Subsidiary to comply with the provisions of Section 4.15 and this Article 11, to the
extent applicable.

          Section 11.04 Subrogation.

          Each Guarantor shall be subrogated to all rights of Holders against the Issuer in respect of
any amounts paid by any Guarantor pursuant to the provisions of Section 11.01; provided that, if an
Event of Default has occurred and is continuing, no Guarantor shall be entitled to enforce or
receive any payments arising out of, or based upon, such right of subrogation until all amounts
then due and payable by the Issuer under this Indenture or the Notes shall have been paid in full.

          Section 11.05 Benefits Acknowledged.

          Each Guarantor acknowledges that it will receive direct and indirect benefits from the
financing arrangements contemplated by this Indenture and that the Guarantee and waivers made by it
pursuant to its Note Guarantee are knowingly made in contemplation of such benefits.

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          Section 11.06 Release of Guarantees.

          (a) A Note Guarantee by a Guarantor shall be automatically and unconditionally released and
discharged upon:

     (1) (A) (i) in the case of a Subsidiary Guarantor, any sale, exchange or transfer
(whether by merger, consolidation or otherwise) of the Capital Stock of such Subsidiary
Guarantor, after which the applicable Subsidiary Guarantor is no longer a Restricted
Subsidiary or (ii) the sale of all or substantially all the assets (other than by lease) of
such Subsidiary Guarantor to a Person which is not the Issuer or a Restricted Subsidiary;
provided that (x) such sale, exchange, transfer or disposition is made in compliance with
this Indenture, including Section 4.10 (it being understood that only such portion of the
Net Available Cash as is required to be applied on or before the date of such release in
accordance with the terms of this Indenture needs to be applied in accordance therewith at
such time) and Article 5 and (y) all the obligations of such Subsidiary Guarantor under all
Indebtedness of the Issuer or its Restricted Subsidiaries terminate upon consummation of
such transaction;

          (B) in the case of a Subsidiary Guarantor, the release or discharge of such Subsidiary
Guarantor from its Guarantee of Indebtedness of the Issuer under the Credit Agreement
(including by reason of the termination of the Credit Agreement), all other Indebtedness of
the Issuer and its Restricted Subsidiaries and/or the Guarantee that resulted in the
obligation of such Subsidiary Guarantor to Guarantee the Notes, if such Subsidiary Guarantor
would not then otherwise be required to Guarantee the Notes pursuant to this Indenture,
except a discharge or release by or as a result of payment by such Subsidiary Guarantor
under such Guarantee; provided, that if such Person has Incurred any Indebtedness or issued
any Preferred Stock or Disqualified Stock in reliance on its status as a Subsidiary
Guarantor under Section 4.09, such Subsidiary Guarantor’s obligations under such
Indebtedness, Disqualified Stock or Preferred Stock, as the case may be, so Incurred are
satisfied in full and discharged or are otherwise permitted to be Incurred by a Restricted
Subsidiary (other than a Subsidiary Guarantor) under Section 4.09;

          (C) in the case of a Subsidiary Guarantor, upon its proper designation as an
Unrestricted Subsidiary; or

          (D) the Issuer exercising its Legal Defeasance option or Covenant Defeasance option in
accordance with Article 8 or the Issuer’s obligations under this Indenture being discharged
in accordance with the terms of this Indenture; and

     (2) such Guarantor delivering to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each to the effect that all conditions precedent provided for in this Indenture
relating to such transaction and/or release have been complied with.

          (b) At the written request of the Issuer, the Trustee shall execute and deliver any documents
reasonably required in order to evidence such release, discharge and termination in respect of the
applicable Guarantee.

          (c) In the event that any released Guarantor thereafter borrows under or guarantees
Indebtedness under the Credit Agreement or guarantees any other debt of the Issuer or of any
Subsidiary Guarantor at such time as any Notes remain outstanding (without regard to Sections 2.08
and 2.09), such

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former Guarantor shall again provide a Note Guarantee of the Notes and assume by written
agreement all of the obligations of a Guarantor under the Registration Rights Agreement, the
applicable Collateral Documents and the Intercreditor Agreement pursuant to Section 4.15.

ARTICLE 12

SATISFACTION AND DISCHARGE

          Section 12.01 Satisfaction and Discharge.

          This Indenture and the Collateral Documents shall be discharged and shall cease to be of
further effect (except the Issuer’s obligations with respect to the Notes issued under this
Indenture concerning issuing temporary Notes, registration of Notes, mutilated, destroyed, lost or
stolen Notes and the maintenance of an office or agency for payment and money for security payments
held in trust) as to all Notes issued hereunder, when:

	 	(1)	 	either:
	 
	 	(a)	 	all Notes that have been authenticated, except lost, stolen or
destroyed Notes that have been replaced or paid and Notes for whose payment
money has been deposited in trust and thereafter repaid to the Issuer, have
been delivered to the Trustee for cancellation; or
	 
	 	(b)	 	all Notes not theretofore delivered to the Trustee for
cancellation have become due and payable by reason of the making of a notice of
redemption or otherwise, will become due and payable at their Stated Maturity
within one year or are to be called for redemption within one year under
arrangements satisfactory to the Trustee for the giving of notice of redemption
by the Trustee in the name, and at the expense, of the Issuer, and the Issuer
or any Guarantor has irrevocably deposited or caused to be deposited with the
Trustee, as trust funds in trust solely for the benefit of the Holders of the
Notes, cash in U.S. dollars, U.S. Government Securities, or a combination
thereof, in such amounts as will be sufficient, in the opinion of a nationally
recognized firm of certified public accountants, without consideration of any
reinvestment of interest to pay and discharge the entire Indebtedness on the
Notes not theretofore delivered to the Trustee for cancellation for principal,
premium, if any, and accrued interest to the date of maturity or redemption;

     (2) no Default or Event of Default has occurred and is continuing on the date of the
deposit or will occur as a result of the deposit (other than a Default resulting from
borrowing of funds to be applied to such deposit and the grant of any Lien securing such
borrowing) and the deposit will not result in a breach or violation of, or constitute a
default under, the Credit Agreement or any other material instrument to which the Issuer or
any Guarantor is a party or by which the Issuer or any Guarantor is bound;

     (3) the Issuer has paid or caused to be paid all sums payable by it under this
Indenture; and

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     (4) the Issuer has delivered irrevocable instructions to the Trustee under this
Indenture to apply the deposited money toward the payment of the Notes issued hereunder at
maturity or the redemption date, as the case may be.

          In addition, the Issuer must deliver an Officers’ Certificate and an Opinion of Counsel to the
Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied.

          Section 12.02 Application of Trust Money.

          (a) Subject to the provisions of Section 8.06, all money or U.S. Government Obligations
deposited with the Trustee pursuant to Section 12.01 shall be held in trust and applied by it, in
accordance with the provisions of the Notes and this Indenture, to the payment, either directly or
through any Paying Agent (including the Issuer acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal, premium, if any, and interest for
whose payment such money has been deposited with the Trustee, but such money need not be segregated
from other funds except to the extent required by law.

          (b) If the Trustee or Paying Agent is unable to apply any money or U.S. Government Obligations
in accordance with Section 12.01 by reason of any legal proceeding or by reason of any order or
judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting
such application, the Issuer’s and any Guarantor’s obligations under this Indenture and the Notes
shall be revived and reinstated as though no deposit had occurred pursuant to Section 12.01;
provided that if the Issuer has made any payment of principal of, premium, if any, or interest on
any Notes because of the reinstatement of its obligations, the Issuer shall be subrogated to the
rights of the Holders of such Notes to receive such payment from the money or U.S. Government
Obligations held by the Trustee or Paying Agent, as the case may be.

ARTICLE 13

MISCELLANEOUS

          Section 13.01 Trust Indenture Act Controls.

          If and to the extent that any provision of this Indenture limits, qualifies or conflicts with
another provision which is required to be included in this Indenture by the Trust Indenture Act,
the provision required by the Trust Indenture Act shall control. Each Guarantor in addition to
performing its obligations under its Note Guarantee shall perform such other obligations as may be
imposed upon it with respect to this Indenture under the Trust Indenture Act.

          Section 13.02 Notices.

          (a) Any notice or communication to the Issuer, any Guarantor, the Trustee or the Collateral
Agent is duly given if in writing and (1) delivered in person, (2) mailed by first-class mail,
postage prepaid, or overnight air courier guaranteeing next day delivery or (3) sent by facsimile
or electronic transmission, to the others’ address:

          If to the Issuer and/or any Guarantor:

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c/o Logan’s Roadhouse, Inc.

3011 Armory Drive, Suite 300

Nashville, Tennessee 37204

Fax No.: (229) 221-9854

Attention: Amy Bertauski
                  Chief Financial Officer

With a copy to:

Debevoise & Plimpton LLP

909 Third Avenue

New York, NY 10022

Fax No: (212) 909-6836

Attention: Peter J. Loughran, Esq.

If to the Trustee:

Wells Fargo Bank, National Association

7000 Central Parkway

Suite 550

Atlanta, Georgia 30328

Fax No.: (770) 551-5118

Attention: Corporate Trust Services

If to the Collateral Agent:

Wells Fargo Bank, National Association

7000 Central Parkway

Suite 550

Atlanta, Georgia 30328

Fax No.: (770) 551-5118

Attention: Corporate Trust Services

The Issuer, any Guarantor, the Trustee or the Collateral Agent, by like notice, may designate
additional or different addresses for subsequent notices or communications.

          (b) All notices and communications (other than those sent to Holders) shall be deemed to have
been duly given: at the time delivered by hand, if personally delivered; on the first date of which
publication is made, if by publication; five calendar days after being deposited in the mail,
postage prepaid, if mailed by first-class mail; the next Business Day after timely delivery to the
courier, if mailed by overnight air courier guaranteeing next day delivery; when receipt
acknowledged, if sent by facsimile or electronic transmission; provided that any notice or
communication delivered to the Trustee or the Collateral Agent shall be deemed effective upon
actual receipt thereof.

          (c) Any notice or communication to a Holder shall be mailed by first-class mail or by
overnight air courier guaranteeing next day delivery to its address shown on the Note Register or
by such other delivery system as the Trustee agrees to accept. Any notice or communication shall
also be so mailed to any Person described in Trust Indenture Act Section 313(c), to the extent
required by the Trust Indenture Act. Failure to mail a notice or communication to a Holder or any
defect in it shall not affect its sufficiency with respect to other Holders.

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          (d) Where this Indenture provides for notice in any manner, such notice may be waived in
writing by the Person entitled to receive such notice, either before or after the event, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with
the Trustee, but such filing shall not be a condition precedent to the validity of any action taken
in reliance upon such waiver.

          (e) Where this Indenture provides for notice of any event to a Holder of a Global Note, such
notice shall be sufficiently given if given to the Depositary for such Note (or its designee),
pursuant to the applicable procedures of such Depositary, if any, prescribed for the giving of such
notice.

          (f) The Trustee agrees to accept and act upon notice, instructions or directions pursuant to
this Indenture sent by unsecured facsimile or electronic transmission; provided, however, that (1)
the party providing such written notice, instructions or directions, subsequent to such
transmission of written instructions, shall provide the originally executed instructions or
directions to the Trustee in a timely manner, and (2) such originally executed notice, instructions
or directions shall be signed by an authorized representative of the party providing such notice,
instructions or directions. The Trustee shall not be liable for any losses, costs or expenses
arising directly or indirectly from the Trustee’s reasonable conclusive reliance upon and
compliance with such notice, instructions or directions notwithstanding such notice, instructions
or directions conflict or are inconsistent with a subsequent notice, instructions or directions.

          (g) If a notice or communication is sent in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives it.

          (h) If the Issuer mails a notice or communication to Holders, it shall mail a copy to the
Trustee and each Agent at the same time.

          Section 13.03 Communication by Holders with Other Holders.

          Holders may communicate pursuant to Trust Indenture Act Section 312(b) with other Holders with
respect to their rights under this Indenture or the Notes. The Issuer, the Guarantors, the
Trustee, the Registrar and anyone else shall have the protection of Trust Indenture Act Section
312(c).

          Section 13.04 Certificate and Opinion as to Conditions Precedent.

          Upon any request or application by the Issuer or any Guarantor to the Trustee or the
Collateral Agent to take any action under this Indenture, the Intercreditor Agreement or any of the
Collateral Documents, the Issuer or such Guarantor, as the case may be, shall furnish to the
Trustee or the Collateral Agent:

     (1) an Officers’ Certificate in form reasonably satisfactory to the Trustee or the
Collateral Agent, as the case may be (which shall include the statements set forth in
Section 13.05), stating that, in the opinion of the signer(s), all conditions precedent and
covenants, if any, provided for in this Indenture relating to the proposed action have been
complied with; and

     (2) an Opinion of Counsel in form reasonably satisfactory to the Trustee or the
Collateral Agent, as the case may be (which shall include the statements set forth in
Section 13.05), stating that, in the opinion of such counsel, all such conditions precedent
and covenants have been complied with; provided that (A) subject to Section 5.01(c), no
Opinion of Counsel

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shall be required in connection with the addition of a Guarantor under this Indenture
upon execution and delivery by such Guarantor and the Trustee of a supplemental indenture to
this Indenture, the form of which is attached as Exhibit C and (B) no Opinion of Counsel
pursuant to this section shall be required in connection with the issuance of Notes on the
Issue Date or the execution and delivery on the Issue Date of the Supplemental Indenture for
Merger.

          Section 13.05 Statements Required in Certificate or Opinion.

          Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than a certificate provided pursuant to Section 4.04) shall include:

     (1) a statement that the Person making such certificate or opinion has read such
covenant or condition;

     (2) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based;

     (3) a statement to the effect that, in the opinion of such Person, he or she has made
such examination or investigation as is necessary to enable him or her to express an
informed opinion as to whether or not such covenant or condition has been complied with
(and, in the case of an Opinion of Counsel, may be limited to reliance on an Officers’
Certificate as to matters of fact); and

     (4) a statement as to whether or not, in the opinion of such Person, such condition or
covenant has been complied with.

          Section 13.06 Rules by Trustee and Agents.

          The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar
or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

          Section 13.07 No Personal Liability of Directors, Officers, Employees, Members, Partners
and Stockholders.

          No manager, director, officer, employee, incorporator or, stockholder (other than in its
capacity as a Guarantor) of the Issuer or any Guarantors, as such, shall have any liability for any
obligations of the Issuer or such Guarantor under the Notes, this Indenture, the Guarantees, the
Collateral Documents or the Intercreditor Agreement or for any claim based on, in respect of, or by
reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases
all such liability. The waiver and release are part of the consideration for issuance of the
Notes. The waiver may not be effective to waive liabilities under the federal securities laws.

          Section 13.08 Governing Law.

          THIS INDENTURE, THE NOTES AND ANY NOTE GUARANTEE WILL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

          Section 13.09 Waiver of Jury Trial.

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          EACH OF THE ISSUER, THE GUARANTORS, THE TRUSTEE AND THE COLLATERAL AGENT HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN
ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS
CONTEMPLATED HEREBY.

          Section 13.10 Force Majeure.

          In no event shall the Trustee or the Collateral Agent be responsible or liable for any failure
or delay in the performance of its obligations under this Indenture arising out of or caused by,
directly or indirectly, forces beyond its reasonable control, including without limitation strikes,
work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or
natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities,
communications or computer (software or hardware) services; it being understood that the Trustee
and the Collateral Agent shall use reasonable efforts which are consistent with accepted practices
in the banking industry to resume performance as soon as practicable under the circumstances.

          Section 13.11 No Adverse Interpretation of Other Agreements.

          This Indenture may not be used to interpret any other indenture, loan or debt agreement of the
Issuer or its Restricted Subsidiaries or of any other Person. Any such indenture, loan or debt
agreement may not be used to interpret this Indenture. Notwithstanding the above and any contrary
provision in this Indenture, this Indenture is subject to the provisions of the Intercreditor
Agreement and the Security Agreement. The Issuer, the Guarantors, the Holders, the Trustee and the
Collateral Agent acknowledge and agree to be bound by the provisions of the Intercreditor Agreement
and the Security Agreement.

          Section 13.12 Successors.

          All agreements of the Issuer in this Indenture and the Notes shall bind its successors. All
agreements of the Trustee in this Indenture shall bind its successors. All agreements of each
Guarantor in this Indenture shall bind its successors, except as otherwise provided in Section
11.06.

          Section 13.13 Severability.

          In case any provision in this Indenture or in the Notes shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

          Section 13.14 Counterpart Originals.

          The parties may sign any number of copies of this Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement. The exchange of copies of this
Indenture and of signature pages by facsimile or PDF transmission shall constitute effective
execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the
original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or
PDF shall be deemed to be their original signatures for all purposes.

          Section 13.15 Table of Contents, Headings, etc.

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          The Table of Contents, Cross-Reference Table and headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be considered a part of
this Indenture and shall in no way modify or restrict any of the terms or provisions hereof.

          Section 13.16 U.S.A. PATRIOT Act.

          The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. PATRIOT Act,
the Trustee and the Collateral Agent are required to obtain, verify, and record information that
identifies each person or legal entity that establishes a relationship or opens an account with the
Trustee or the Collateral Agent. The parties to this Indenture agree that they will provide the
Trustee and the Collateral Agent with such information as they may request in order for them to
satisfy the requirements of the U.S.A. PATRIOT Act.

          Section 13.17 Payments Due on Non-Business Days.

          In any case where any Interest Payment Date, redemption date or repurchase date or the Stated
Maturity of the Notes shall not be a Business Day, then (notwithstanding any other provision of
this Indenture or of the Notes) payment of interest or principal (and premium, if any) need not be
made on such date, but may be made on the next succeeding Business Day with the same force and
effect as if made on the Interest Payment Date or redemption date or repurchase date, or at the
Stated Maturity of the Notes, provided that no interest will accrue for the period from and after
such Interest Payment Date, redemption date, repurchase date or Stated Maturity, as the case may
be.

          Section 13.18 Qualification of Indenture. The Issuer has agreed to qualify this
Indenture under the Trust Indenture Act in accordance with the terms and conditions of the
Registration Rights Agreement and to pay all reasonable costs and expenses (including attorneys’
fees and expenses for the Issuer, the Trustee and the Holders) incurred in connection therewith.
The Trustee shall be entitled to receive from the Issuer any such Officers’ Certificates, Opinions
of Counsel or other documentation as it may reasonably request in connection with any such
qualification of this Indenture under the Trust Indenture Act.

          Section 13.19 Consent to Jurisdiction.

          The Issuer and each Guarantor hereby irrevocably submits to the non-exclusive jurisdiction of
any U.S. federal or New York State court sitting in New York, New York, in any action or proceeding
arising out of or relating to this Indenture, and the Issuer and each Guarantor hereby irrevocably
agrees that all claims in respect of such action or proceeding may be heard and determined in any
such court and irrevocably waives any objection it may now or hereafter have as to the venue of any
such suit, action or proceeding brought in such a court or that such court is an inconvenient
forum. Nothing herein shall limit the right of the Trustee or Collateral Agent or of any Holder to
bring proceedings against the Issuer or any Guarantor in the courts of any other jurisdiction. Any
judicial proceeding by the Issuer or any Guarantor against the Trustee or Collateral Agent or any
affiliate of the Trustee or Collateral Agent involving, directly or indirectly, any matter in any
way arising out of, related to, or connected with this Indenture shall be brought only in a court
in New York, New York.

[Signatures on following page]

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	 	ISSUER

ROADHOUSE FINANCING INC.

 	 
	 	By:  	/s/ Stanley de J. Osborne	 
	 	 	Name: Stanley de J. Osborne	 
	 	 	Title: President	 
	 
	 	GUARANTOR

ROADHOUSE MERGER INC.

 	 
	 	By: 	/s/ Stanley de J. Osborne	 
	 	 	Name: Stanley de J. Osborne	 
	 	 	Title: President	 
	 

Indenture

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK,
NATIONAL ASSOCIATION, as
Trustee

 	 
	 	By:  	/s/ Stefan Victory	 
	 	 	Name:  	Stefan Victory	 
	 	 	Title:  	Vice President	 
	 

	 	 	 	 	 
	 	WELLS FARGO BANK,
NATIONAL ASSOCIATION, as
Collateral Agent

 	 
	 	By:  	/s/ Stefan Victory	 
	 	 	Name:  	Stefan Victory	 
	 	 	Title:  	Vice President	 
	 

Indenture

 

 

Schedule 1

Mortgaged Properties

	1.	 	REAL PROPERTY OWNED BY LOGAN’S ROADHOUSE, INC., LOCATED AT 1519 S. YUMA
PALMS PKWY, YUMA, AZ 85365.
	 
	2.	 	REAL PROPERTY OWNED BY LOGAN’S ROADHOUSE, INC., LOCATED AT 2146 LANTERN
RIDGE DRIVE, RICHMOND, KY 40475.
	 
	3.	 	REAL PROPERTY OWNED BY LOGAN’S ROADHOUSE, INC., LOCATED AT 16132 ATHENS
LIMESTONE BLVD., ATHENS, AL 35611.
	 
	4.	 	REAL PROPERTY OWNED BY LOGAN’S ROADHOUSE, INC., LOCATED AT 205 RELCO
DR., MANCHESTER, TN 37355.
	 
	5.	 	REAL PROPERTY OWNED BY LOGAN’S ROADHOUSE, INC., LOCATED AT 431
RIVERWIND DR., PEARL, MS 39208.
	 
	6.	 	REAL PROPERTY OWNED BY LOGAN’S ROADHOUSE, INC., LOCATED AT 630 SHEDECK
PKWY,YUKON, OK 73099.
	 
	7.	 	REAL PROPERTY OWNED BY LOGAN’S ROADHOUSE, INC., LOCATED AT 23115 I-30
SOUTH, BRYANT, AR 72022.
	 
	8.	 	REAL PROPERTY OWNED BY LOGAN’S ROADHOUSE, INC., LOCATED AT 419 OLD SAN
ANTONIO ROAD, BUDA, TX 78610.

Schedule 1

 

 

APPENDIX
A

PROVISIONS RELATING TO INITIAL NOTES, EXCHANGE NOTES AND

ADDITIONAL NOTES

Section 1.1 Definitions.

          (a) Capitalized Terms.

          Capitalized terms used but not defined in this Appendix A have the meanings given to them in
the Indenture. The following capitalized terms have the following meanings:

          “Applicable Procedures” means, with respect to any transfer or transaction involving a
Regulation S Global Note or beneficial interest therein, the rules and procedures of the Depositary
for such Global Note, Euroclear and Clearstream, in each case to the extent applicable to such
transaction and as in effect from time to time.

          “Clearstream” means Clearstream Banking, Société Anonyme, or any successor securities
clearing agency.

          “Distribution Compliance Period”, with respect to any Note, means the period of 40
consecutive days beginning on and including the later of (a) the day on which such Note is first
offered to persons other than distributors (as defined in Regulation S under the Securities Act) in
reliance on Regulation S, notice of which day shall be promptly given by the Issuer to the Trustee,
and (b) the date of issuance with respect to such Note or any predecessor of such Note.

          “Euroclear” means the Euroclear Clearance System or any successor securities clearing
agency.

          “IAI” means an institutional “accredited investor” as described in Rule 501(a)(1),
(2), (3) or (7) under the Securities Act.

          “QIB” means a “qualified institutional buyer” as defined in Rule 144A.

          “Regulation S” means Regulation S promulgated under the Securities Act.

          “Rule 144” means Rule 144 promulgated under the Securities Act.

          “Rule 144A” means Rule 144A promulgated under the Securities Act.

          “Rule 501” means Rule 501(a)(1), (2), (3) or (7) under the Securities Act.

          “Rule 904” means Rule 904 promulgated under the Securities Act.

          “Transfer Restricted Note” means any Note bearing the Restricted Notes Legend.

          “Unrestricted Global Note” means any Note in global form that does not bear or is not
required to bear the Restricted Notes Legend.

 

 

          (b) Other
Definitions.

	 	 	 	 	 
	Term:	 	Defined in Section:
	“Additional Restricted Notes”

	 	 	2.1	(a)
	“Agent Members”

	 	 	2.1	(c)
	“Definitive Notes”

	 	 	2.1	(d)
	“Definitive Notes Legend”

	 	 	2.3	(e)
	“Exchange Global Note”

	 	 	2.1	(b)
	“Global Note”

	 	 	2.1	(b)
	“Global Notes Legend”

	 	 	2.3	(e)
	“IAI Global Note”

	 	 	2.1	(b)
	“IAI” Notes

	 	 	2.1	(a)
	“OID Notes Legend”

	 	 	2.3	(e)
	“Regulation S Global Note”

	 	 	2.1	(b)
	“Regulation S Notes”

	 	 	2.1	(a)
	“Restricted Notes Legend”

	 	 	2.3	(e)
	“Rule 144A Notes”

	 	 	2.1	(a)
	“Rule 144A Global Note”

	 	 	2.1	(b)

Section 2.1 Form and Dating

          (a) The Initial Notes issued on the date hereof shall be (i) offered and sold by the Issuer
to the Initial Purchasers and (ii) resold, initially only to (1) QIBs in reliance on Rule 144A
(“Rule 144A Notes”) and (2) Persons other than U.S. Persons (as defined in Regulation S) in
reliance on Regulation S (“Regulation S Notes”). Such Initial Notes may thereafter be
transferred to, among others, QIBs, purchasers in reliance on Regulation S and, except as set forth
below, IAIs in accordance with Rule 501 (“IAI
Notes”).

          (b) Global Notes. Rule 144A Notes shall be issued initially in the form of one or
more permanent global Notes in definitive, fully registered form, numbered from RA-1 upward
(collectively, the “Rule 144A Global Note”) and Regulation S Notes shall be issued
initially in the form of one or more global Notes, numbered from RS-1 upward (collectively, the
“Regulation S Global Note”), in each case without interest coupons and bearing the Global
Notes Legend and Restricted Notes Legend, which shall be deposited on behalf of the purchasers of
the Notes represented thereby with the Custodian, and registered in the name of the Depositary or a
nominee of the Depositary, duly executed by the Issuer and authenticated by the Trustee as provided
in the Indenture. One or more global Notes in definitive, fully registered form without interest
coupons and bearing the Global Notes Legend and the Restricted Notes Legend, numbered from RIAI-1
upward (collectively, the “IAI Global Note”) shall also be issued on the Issue Date,
deposited with the Custodian, and registered in the name of the Depositary or a nominee of the
Depositary, duly executed by the Issuer and authenticated by the Trustee as provided in the
Indenture to accommodate transfers of beneficial interests in the Notes to IAIs subsequent to the
initial distribution. Beneficial ownership interests in the Regulation S Global Note shall not be
exchangeable for interests in the Rule 144A Global Note, the IAI Global Note or any other Note
without a Restricted Notes Legend until the expiration of the Distribution Compliance Period. The
Rule 144A Global Note, the IAI Global Note, the Regulation S Global Note and any Unrestricted
Global Note are each referred to herein as a “Global Note” and are collectively referred to
herein as “Global Notes:” provided that the term “Global Note” when used in Section 2.1(c),
2.3(f), 2.3(g)(i), 2.3(g)(ii) and 2.4 shall also include any Exchange Notes issued in global form.
Each Global Note shall represent such of the outstanding Notes as shall be specified in the
“Schedule of Exchanges of Interests in the Global Note” attached thereto and each shall provide
that it shall represent up to the aggregate principal amount of Notes from time to time endorsed
thereon and that the aggregate principal amount of outstanding Notes represented thereby may from
time to time be reduced or increased, as applicable, to reflect exchanges and redemptions. Any
endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate
principal amount of outstanding Notes represented thereby shall be made by the Trustee or the
Custodian, at the direction of

2

 

the Trustee, in accordance with instructions given by the Holder thereof as required by
Section 2.06 of this Indenture and Section 2.3(c) below.

          (c) Book-Entry Provisions. This Section 2.1(c) shall apply only to a Global Note
deposited with or on behalf of the Depositary.

          The Issuer shall execute and the Trustee shall, in accordance with this Section 2.1(c) and
Section 2.2 and pursuant to an order of the Issuer signed by one Officer of the Issuer,
authenticate and deliver initially one or more Global Notes that (i) shall be registered in the
name of the Depositary for such Global Note or Global Notes or the nominee of such Depositary and
(ii) shall be delivered by the Trustee to such Depositary or pursuant to such Depositary’s
instructions or held by the Trustee as Custodian.

          Members of, or participants in, the Depositary (“Agent Members”) shall have no rights
under this Indenture with respect to any Global Note held on their behalf by the Depositary or by
the Trustee as Custodian or under such Global Note, and the Depositary may be treated by the
Issuer, the Trustee and any agent of the Issuer or the Trustee as the absolute owner of such Global
Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the
Issuer, the Trustee or any agent of the Issuer or the Trustee from giving effect to any written
certification, proxy or other authorization furnished by the Depositary or impair, as between the
Depositary and its Agent Members, the operation of customary practices of such Depositary governing
the exercise of the rights of a holder of a beneficial interest in any Global Note.

          (d) Definitive Notes. Except as provided in Section 2.3 or 2.4, owners of beneficial
interests in Global Notes shall not be entitled to receive physical delivery of certificated Notes
(“Definitive Notes”).

Section 2.2 Authentication. The Trustee shall authenticate and make available for delivery
upon a written order of the Issuer signed by one Officer of the Issuer (a) Initial Notes for
original issue on the date hereof in an aggregate principal amount of $335,000,000, (b) subject to
the terms of this Indenture, Additional Notes, (c) Exchange Notes for issue in exchange for a like
principal amount of Initial Notes or Additional Notes and (d) any Unrestricted Global Notes issued
in exchange for any of the foregoing in accordance with this Indenture. Such order shall specify
the amount of the Notes to be authenticated, the date on which the original issue of Notes is to be
authenticated and whether the Notes are to be Initial Notes, Additional Notes, Exchange Notes or
other Unrestricted Global Notes.

Section 2.3 Transfer and Exchange.

          (a) Transfer and Exchange of Definitive Notes for Definitive Notes. When Definitive
Notes are presented to the Registrar with a request:

     (i) to register the transfer of such Definitive Notes; or

     (ii) to exchange such Definitive Notes for an equal principal amount of Definitive
Notes of other authorized denominations,

the Registrar shall register the transfer or make the exchange as requested if its reasonable
requirements for such transaction are met; provided, however, that the Definitive Notes surrendered
for transfer or exchange:

3

 

     (1) shall be duly endorsed or accompanied by a written instrument of transfer in form
reasonably satisfactory to the Issuer and the Registrar, duly executed by the Holder thereof
or his attorney duly authorized in writing; and

     (2) in the case of Transfer Restricted Notes, are accompanied by the following
additional information and documents, as applicable:

     (A) if such Definitive Notes are being delivered to the Registrar by a Holder
for registration in the name of such Holder, without transfer, a certification from
such Holder to that effect (in the form set forth on the reverse side of the Initial
Note); or

     (B) if such Definitive Notes are being transferred to the Issuer, a
certification to that effect (in the form set forth on the reverse side of the
Initial Note); or

     (C) if such Definitive Notes are being transferred pursuant to an exemption
from registration in accordance with Rule 144 under the Securities Act or in
reliance upon another exemption from the registration requirements of the Securities
Act, (x) a certification to that effect (in the form set forth on the reverse side
of the Initial Note) and (y) if the Issuer so requests, an opinion of counsel or
other evidence reasonably satisfactory to it as to the compliance with the
restrictions set forth in the applicable legends set forth in Section 2.3(e)(i).

          (b) Restrictions on Transfer of a Definitive Note for a Beneficial Interest in a Global
Note. A Definitive Note may not be exchanged for a beneficial interest in a Global Note except
upon satisfaction of the requirements set forth below. Upon receipt by the Trustee of a Definitive
Note, duly endorsed or accompanied by a written instrument of transfer in form reasonably
satisfactory to the Issuer and the Registrar, together with:

     (i) (A) certification (in the form set forth on the reverse side of the Initial Note)
that such Definitive Note is being transferred (1) to a QIB in accordance with Rule 144A,
(2) to an IAI that has furnished to the Trustee a signed letter substantially in the form of
Exhibit B or (3) outside the United States of America in an offshore transaction
within the meaning of Regulation S and in compliance with Rule 904 under the Securities Act
or (B) such other certification and Opinion of Counsel as the Issuer shall require; and

     (ii) written instructions directing the Trustee to make, or to direct the Custodian to
make, an adjustment on its books and records with respect to such Global Note to reflect an
increase in the aggregate principal amount of the Notes represented by the Global Note, such
instructions to contain information regarding the Depositary account to be credited with
such increase,

the Trustee shall cancel such Definitive Note and cause, or direct the Custodian to cause, in
accordance with the standing instructions and procedures existing between the Depositary and the
Custodian, the aggregate principal amount of Notes represented by the Global Note to be increased
by the aggregate principal amount of the Definitive Note to be exchanged and shall credit or cause
to be credited to the account of the Person specified in such instructions a beneficial interest in
the Global Note equal to the principal amount of the Definitive Note so canceled. If no Global
Notes are then outstanding and the Global Note has not been previously exchanged for certificated
securities pursuant to Section 2.4, the Issuer shall issue and the Trustee shall authenticate, upon
written order of the Issuer in the form of an Officers’ Certificate, a new Global Note in the
appropriate principal amount.

4

 

          (c) Transfer and Exchange of Global Notes. (i) The transfer and exchange of Global
Notes or beneficial interests therein shall be effected through the Depositary, in accordance with
this Indenture (including applicable restrictions on transfer set forth herein, if any) and the
procedures of the Depositary therefor. A transferor of a beneficial interest in a Global Note
shall deliver a written order given in accordance with the Depositary’s procedures containing
information regarding the participant account of the Depositary to be credited with a beneficial
interest in such Global Note or another Global Note and such account shall be credited in
accordance with such order with a beneficial interest in the applicable Global Note and the account
of the Person making the transfer shall be debited by an amount equal to the beneficial interest in
the Global Note being transferred. Transfers by an owner of a beneficial interest in the Rule 144A
Global Note or the IAI Global Note to a transferee who takes delivery of such interest through the
Regulation S Global Note, whether before or after the expiration of the Distribution Compliance
Period, shall be made only upon receipt by the Trustee of a certification in the form provided on
the reverse side of the Initial Note from the transferor to the effect that such transfer is being
made in accordance with Regulation S, Rule 144 (if available) under the Securities Act, or another
applicable exemption from registration under the Securities Act and that, if such transfer is being
made prior to the expiration of the Distribution Compliance Period, the interest transferred shall
be held immediately thereafter through Euroclear or Clearstream. In the case of a transfer of a
beneficial interest in either the Regulation S Global Note (to the extent provided in Section
2.3(d)) or the Rule 144A Global Note for an interest in the IAI Global Note, the transferee must
furnish a signed letter substantially in the form of Exhibit B to the Trustee.

     (ii) If the proposed transfer is a transfer of a beneficial interest in one Global
Note to a beneficial interest in another Global Note, the Registrar shall reflect on its
books and records the date and an increase in the principal amount of the Global Note to
which such interest is being transferred in an amount equal to the principal amount of the
interest to be so transferred, and the Registrar shall reflect on its books and records the
date and a corresponding decrease in the principal amount of the Global Note from which such
interest is being transferred.

     (iii) Notwithstanding any other provisions of this Appendix A (other than the
provisions set forth in Section 2.4), a Global Note may not be transferred as a whole except
by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the
Depositary or another nominee of the Depositary or by the Depositary or any such nominee to
a successor Depositary or a nominee of such successor Depositary.

     (iv) In the event that a Global Note is exchanged for Definitive Notes pursuant to
Section 2.4 prior to the consummation of an exchange offer or the effectiveness of a Shelf
Registration Statement with respect to such Notes, such Notes may be exchanged only in
accordance with such procedures as are substantially consistent with the provisions of this
Section 2.3 (including the certification requirements set forth on the reverse of the
Initial Notes intended to ensure that such transfers comply with Rule 144A, Regulation S or
such other applicable exemption from registration under the Securities Act, as the case may
be) and such other procedures as may from time to time be adopted by the Issuer

     (v) Neither the Trustee nor the Registrar shall have any responsibilities with respect
to the transfer of beneficial interests within one Global Note.

          (d) Restrictions on Transfer of Regulation S Global Note. (i) Prior to the
expiration of the Distribution Compliance Period, (1) the Regulation S Global Note shall be a
temporary global security for purposes of Rules 903 and 904 under the Securities Act, whether or
not designated as such on the face of such Note, and (2) interests in the Regulation S Global Note
may only be held through Euroclear or Clearstream. During the Distribution Compliance Period,
beneficial ownership interests in

5

 

the Regulation S Global Note may only be sold, pledged or transferred through Euroclear or
Clearstream in accordance with the Applicable Procedures and only (1) to the Issuer or any of its
subsidiaries, (2) so long as such Note is eligible for resale pursuant to Rule 144A, to a person
whom the selling Holder reasonably believes is a QIB that purchases for its own account or for the
account of a QIB and to whom notice is given that the resale, pledge or transfer is being made in
reliance on Rule 144A, (3) in an offshore transaction in accordance with Regulation S, (4) pursuant
to an exemption from registration under the Securities Act provided by Rule 144 (if applicable)
under the Securities Act or another available exemption, (5) to an IAI purchasing for its own
account, or for the account of an IAI, in a minimum principal amount of Notes of $250,000, for
investment purposes and not with a view to, or for offer or sale in connection with, any
distribution in violation of the Securities Act or (6) pursuant to an effective registration
statement under the Securities Act, in each case in accordance with any applicable securities laws
of any state of the United States of America. Prior to the expiration of the Distribution
Compliance Period, transfers by an owner of a beneficial interest in the Regulation S Global Note
to a transferee who takes delivery of such interest through the Rule 144A Global Note or the IAI
Global Note shall be made only in accordance with the Applicable Procedures and upon receipt by the
Trustee of a written certification from the transferor of the beneficial interest in the form
provided on the reverse side of the Initial Note to the effect that such transfer is being made to
(1) a QIB within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A or
(2) an IAI purchasing for its own account, or for the account of such an IAI, in a minimum
principal amount of the Notes of $250,000 who takes delivery through the IAI Global Note. Such
written certification shall no longer be required after the expiration of the Distribution
Compliance Period. In the case of a transfer of a beneficial interest in the Regulation S Global
Note for an interest in the IAI Global Note, the transferee must furnish a signed letter
substantially in the form of Exhibit B to the Trustee.

     (ii) Upon the expiration of the Distribution Compliance Period, beneficial ownership
interests in the Regulation S Global Note shall be transferable in accordance with
applicable law and the other terms of this Indenture.

     (iii) Upon the expiration of the Distribution Compliance Period, beneficial interests
in the Regulation S Global Note may be exchanged for beneficial interests in a permanent
Regulation S Global Note that is an Unrestricted Global Note upon certification in the form
provided on the reverse side of the Initial Note to the effect that such beneficial
interests are owned either by non-U.S. persons or by U.S. persons who purchased those
interests pursuant to an exemption from, or in transactions not subject to, the registration
requirements of the Securities Act. If no such Regulation S Global Note that is an
Unrestricted Global Note is then outstanding, the Issuer shall issue and the Trustee shall
authenticate, upon written order of the Issuer in the form of an Officers’ Certificate, a
new Global Note in the appropriate principal amount.

          (e) Legends.

     (i) Except as permitted by this Section 2.3(e), each Note certificate evidencing the
Global Notes and the Definitive Notes (and all Notes issued in exchange therefor or in
substitution thereof) shall bear a legend in substantially the following form (each defined
term in the legend being defined as such for purposes of the legend only) (“Restricted
Notes Legend”):

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION.
NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED,
SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE

6

 

DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS
ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT
FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH
SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS [IN
THE CASE OF RULE 144A NOTES: ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE
HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES AND THE LAST
DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS
SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY),] [IN THE CASE OF REGULATION S NOTES:
40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE DATE ON WHICH THIS
SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) WAS FIRST OFFERED TO PERSONS OTHER
THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON REGULATION
S], ONLY (A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION
STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG
AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES
ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL
BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT
OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS
BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S.
PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S
UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE
MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS NOT A
QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE
ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM
PRINCIPAL AMOUNT OF SECURITIES OF $250,000 OR (F) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE
ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT
TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL,
CERTIFICATION OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE
REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION
DATE. [IN THE CASE OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER
HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT
OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN
ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.]

Each Definitive Note shall bear the following additional legend (“Definitive Notes
Legend”):

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND
TRANSFER AGENT SUCH CERTIFICATES AND OTHER

7

 

INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE
TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.

Each Global Note shall bear the following additional legend (“Global Notes Legend”):

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW
YORK, TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE
TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN
PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THIS INDENTURE
REFERRED TO ON THE REVERSE HEREOF.

BY ITS ACQUISITION OF THIS SECURITY, THE HOLDER THEREOF WILL BE DEEMED TO HAVE
REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH
HOLDER TO ACQUIRE OR HOLD THIS SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE
BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT
OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE
CODE OF 1986, AS AMENDED (THE “CODE”) OR PROVISIONS UNDER ANY OTHER FEDERAL, STATE,
LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF
ERISA OR THE CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE
CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2)
THE ACQUISITION AND HOLDING OF THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT
PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A
SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS.

Each temporary Regulation S Global Note shall bear the following additional legend (“Regulation
S Legend”):

THIS SECURITY IS A TEMPORARY GLOBAL SECURITY. PRIOR TO THE EXPIRATION OF THE DISTRIBUTION
COMPLIANCE PERIOD APPLICABLE HERETO, BENEFICIAL INTERESTS HEREIN MAY NOT BE HELD BY ANY
PERSON OTHER THAN (1) A NON-U.S. PERSON OR (2) A U.S. PERSON THAT PURCHASED SUCH INTEREST IN
A

8

 

TRANSACTION EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”). BENEFICIAL INTERESTS HEREIN ARE NOT EXCHANGEABLE FOR CERTIFICATED NOTES
OTHER THAN A PERMANENT GLOBAL NOTE IN ACCORDANCE WITH THE TERMS OF THE INDENTURE. TERMS IN
THIS LEGEND ARE USED AS USED IN REGULATION S UNDER THE SECURITIES ACT.

Any Additional Note issued with original issue discount will also bear the following additional
legend (“OID Notes Legend”):

THIS NOTE IS ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR PURPOSES OF SECTION 1271 ET
SEQ. OF THE INTERNAL REVENUE CODE. A HOLDER MAY OBTAIN THE ISSUE PRICE, AMOUNT OF
ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY FOR SUCH NOTE BY
SUBMITTING A WRITTEN REQUEST FOR SUCH INFORMATION TO: AMY L. BERTAUSKI, LOGAN’S
ROADHOUSE, INC., 3011 ARMORY DRIVE, SUITE 300, NASHVILLE, TENNESSEE 37204.

     (ii) Subject to Section 2.3(e)(v), upon any sale or transfer of a Transfer Restricted
Note that is a Definitive Note, the Registrar shall permit the Holder thereof to exchange
such Transfer Restricted Note for a Definitive Note that does not bear the legends set forth
above and rescind any restriction on the transfer of such Transfer Restricted Note if the
Holder certifies in writing to the Registrar that its request for such exchange was made in
reliance on Rule 144 (such certification to be in the form set forth on the reverse side of
the Initial Note).

     (iii) After a transfer of any Initial Notes or Additional Notes during the period of
the effectiveness of a Shelf Registration Statement with respect to such Initial Notes or
Additional Notes, as the case may be, all requirements pertaining to the Restricted Notes
Legend on such Initial Notes or Additional Notes shall cease to apply and the requirements
that any such Initial Notes or Additional Notes be issued in global form shall continue to
apply.

     (iv) Upon the consummation of an exchange offer with respect to the Initial Notes or
Additional Notes pursuant to which Holders of such Initial Notes or Additional Notes are
offered Exchange Notes in exchange for their Initial Notes or Additional Notes, all
requirements pertaining to Initial Notes or Additional Notes that Initial Notes or
Additional Notes be issued in global form shall continue to apply, and Exchange Notes in
global form without the Restricted Notes Legend shall be available to Holders that exchange
such Initial Notes or Additional Notes in such exchange offer.

     (v) Upon a sale or transfer after the expiration of the Distribution Compliance Period
of any Initial Note or Additional Note acquired pursuant to Regulation S, all requirements
that such Initial Note or Additional Note bear the Restricted Notes Legend shall cease to
apply and the requirements requiring any such Initial Note or Additional Note be issued in
global form shall continue to apply.

     (iv) Any Additional Notes sold in a registered offering shall not be required to bear
the Restricted Notes Legend.

     (v) Notwithstanding anything else to the contrary in this Appendix A, the one-year
resale restriction period set forth in the Restricted Notes Legend may be extended, in the
Issuer’s discretion, in the event of one or more issuances of Additional Notes pursuant to
Section 2.01 of

9

 

the Indenture. The Restricted Notes Legend (including the restrictions on resale
specified thereon) may be removed solely in the Issuer’s discretion and at the Issuer’s
direction.

          (f) Cancellation or Adjustment of Global Note. At such time as all beneficial
interests in a Global Note have either been exchanged for Definitive Notes, transferred, redeemed,
repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for
cancellation or retained and canceled by the Trustee. At any time prior to such cancellation, if
any beneficial interest in a Global Note is exchanged for Definitive Notes, transferred in exchange
for an interest in another Global Note, redeemed, repurchased or canceled, the principal amount of
Notes represented by such Global Note shall be reduced and an adjustment shall be made on the books
and records of the Trustee (if it is then the Custodian for such Global Note) with respect to such
Global Note, by the Trustee or the Custodian, to reflect such reduction.

          (g) No Obligation of the Trustee.

     (i) The Trustee shall have no responsibility or obligation to any beneficial owner of
a Global Note, a member of, or a participant in the Depositary or any other Person with
respect to the accuracy of the records of the Depositary or its nominee or of any
participant or member thereof, with respect to any ownership interest in the Notes or with
respect to the delivery to any participant, member, beneficial owner or other Person (other
than the Depositary) of any notice (including any notice of redemption or repurchase) or the
payment of any amount, under or with respect to such Notes. All notices and communications
to be given to the Holders and all payments to be made to Holders under the Notes shall be
given or made only to the registered Holders (which shall be the Depositary or its nominee
in the case of a Global Note). The rights of beneficial owners in any Global Note shall be
exercised only through the Depositary subject to the applicable rules and procedures of the
Depositary. The Trustee may conclusively rely and shall be fully protected in conclusively
relying upon information furnished by the Depositary with respect to its members,
participants and any beneficial owners.

     (ii) The Trustee shall have no obligation or duty to monitor, determine or inquire as
to compliance with any restrictions on transfer imposed under this Indenture or under
applicable law with respect to any transfer of any interest in any Note (including any
transfers between or among Depositary participants, members or beneficial owners in any
Global Note) other than to require delivery of such certificates and other documentation or
evidence as are expressly required by, and to do so if and when expressly required by, the
terms of this Indenture, and to examine the same to determine substantial compliance as to
form with the express requirements hereof.

          (h) Automatic Exchange of Beneficial Interests in a Global Note that is a Transfer
Restricted Note for Beneficial Interests in an Unrestricted Global Note. Upon the Issuer’s
satisfaction that the Restricted Notes Legend shall no longer be required in order to maintain
compliance with the Securities Act, beneficial interests in a Global Note that is a Transfer
Restricted Note may be automatically exchanged into beneficial interests in an Unrestricted Global
Note without any action required by or on behalf of the Holder (the “Automatic Exchange”)
at any time on or after the date that is the 366th calendar day after (1) with respect to any Note
issued on the Issue Date, the later of (x) the Issue Date and (y) the last date on which the Issuer
or any Affiliate of the Issuer was the owner of such Note or (2) with respect to any Additional
Note, if any, the later of (x) the issue date of such Additional Note and (y) the last date on
which the Issuer or any Affiliate of the Issuer was the owner of such Note, or, in each case, if
such day is not a Business Day, on the next succeeding Business Day (the “Automatic Exchange
Date”). Upon the Issuer’s satisfaction that the Restricted Notes Legend shall no longer be
required in order to maintain compliance with the Securities Act, the Issuer may (A) provide
written notice to the Trustee at least 10 calendar days prior to the Automatic Exchange,
instructing the Trustee to direct the

10

 

Depositary to exchange all of the outstanding beneficial interests in a particular Global Note
that is a Transfer Restricted Note to the Unrestricted Global Note, which the Issuer shall have
previously otherwise made eligible for exchange with DTC, (B) provide prior written notice (the
“Automatic Exchange Notice”) to each Holder at such Holder’s address appearing in the Note
Register at least 10 calendar days prior to the Automatic Exchange (the “Automatic Exchange
Notice Date”), which notice must include (I) the Automatic Exchange Date, (II) the section of
the Indenture pursuant to which the Automatic Exchange shall occur, (III) the “CUSIP” number of the
Global Note that is a Transfer Restricted Note from which such Holder’s beneficial interests will
be transferred and (IV) the “CUSIP” number of the Unrestricted Global Note into which such Holder’s
beneficial interests will be transferred, and (C) on or prior to the date of the Automatic
Exchange, deliver to the Trustee for authentication one or more Unrestricted Global Notes, duly
executed by the Issuer, in an aggregate principal amount equal to the aggregate principal amount of
Global Notes that are Transfer Restricted Notes to be exchanged. At the Issuer’s request on no
less than 5 calendar days’ notice, the Trustee shall deliver, in the Issuer’s name and at its
expense, the Automatic Exchange Notice (which shall be prepared by the Issuer) to each Holder at
such Holder’s address appearing in the Note Register. Notwithstanding anything to the contrary in
this Section 2.3, during the 10-day period between the Automatic Exchange Notice Date and the
Automatic Exchange Date, no transfers or exchanges other than pursuant to this Section 2.3(h) shall
be permitted without the prior written consent of the Issuer. As a condition to any Automatic
Exchange, the Issuer shall provide, and the Trustee shall be entitled to rely upon, an Officers’
Certificate and an Opinion of Counsel in form reasonably acceptable to the Trustee to the effect
that the Automatic Exchange shall be effected in compliance with the Securities Act and that the
restrictions on transfer contained herein and in the Restricted Notes Legend shall no longer be
required in order to maintain compliance with the Securities Act and that the aggregate principal
amount of the particular Global Note that is a Transfer Restricted Note is to be transferred to the
particular Unrestricted Global Note by adjustment made on the records of the Trustee, as custodian
for the Depositary to reflect the Automatic Exchange. The Issuer may request from Holders such
information it reasonably determines is required in order to be able to deliver such Officers’
Certificate. Upon such exchange of beneficial interests pursuant to this Section 2.3(h), the
aggregate principal amount of the Global Notes shall be increased or decreased by adjustments made
on the records of the Trustee, as custodian for the Depositary, to reflect the relevant increase or
decrease in the principal amount of such Global Note resulting from the applicable exchange. The
Global Note that is a Transfer Restricted Note from which beneficial interests are transferred
pursuant to an Automatic Exchange shall be canceled following the Automatic Exchange.

Section 2.4 Definitive Notes.

          (a) A Global Note deposited with the Depositary or with the Trustee as Custodian pursuant to
Section 2.1 shall be transferred to the beneficial owners thereof in the form of Definitive Notes
in an aggregate principal amount equal to the principal amount of such Global Note, in exchange for
such Global Note, only if such transfer complies with Section 2.3 and (i) the Depositary notifies
the Issuer that it is unwilling or unable to continue as a Depositary for such Global Note or if at
any time the Depositary ceases to be a “clearing agency” registered under the Exchange Act and, in
each case, a successor depositary is not appointed by the Issuer within 90 days of such notice or
after the Issuer becomes aware of such cessation, or (ii) an Event of Default has occurred and is
continuing or (iii) the Issuer, in its sole discretion and subject to the procedures of the
Depositary, notifies the Trustee in writing that it elects to cause the issuance of certificated
Notes under this Indenture. In addition, any Affiliate of the Issuer or any Guarantor that is a
beneficial owner of all or part of a Global Note may have such Affiliate’s beneficial interest
transferred to such Affiliate in the form of a Definitive Note, by providing a written request to
the Issuer and the Trustee and such Opinions of Counsel, certificates or other information as may
be required by this Indenture or the Issuer or Trustee.

11

 

          (b) Any Global Note that is transferable to the beneficial owners thereof pursuant to this
Section 2.4 shall be surrendered by the Depositary to the Trustee, to be so transferred, in whole
or from time to time in part, without charge, and the Trustee shall authenticate and deliver, upon
such transfer of each portion of such Global Note, an equal aggregate principal amount of
Definitive Notes of authorized denominations. Any portion of a Global Note transferred pursuant to
this Section shall be executed, authenticated and delivered only in denominations of $2,000 and
integral multiples of $1,000 in excess thereof and registered in such names as the Depositary shall
direct. Any certificated Initial Note or Additional Note in the form of a Definitive Note
delivered in exchange for an interest in the Global Note shall, except as otherwise provided by
Section 2.3(e), bear the Restricted Notes Legend.

          (c) Subject to the provisions of Section 2.4(b), the registered Holder of a Global Note may
grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold
interests through Agent Members, to take any action which a Holder is entitled to take under this
Indenture or the Notes.

          (d) In the event of the occurrence of any of the events specified in Section 2.4(a)(i), (ii)
or (iii), the Issuer shall promptly make available to the Trustee a reasonable supply of Definitive
Notes in fully registered form without interest coupons.

12

 

EXHIBIT A

[FORM OF FACE OF NOTE]

[INSERT IN TRANSFER RESTRICTED NOTE: THIS SECURITY HAS NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES
LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR
PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED,
ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS
SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF
THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF
ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR
OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION
TERMINATION DATE”) THAT IS [IN THE CASE OF RULE 144A NOTES: ONE YEAR AFTER THE LATER
OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY
ADDITIONAL NOTES AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE
ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY),] [IN
THE CASE OF REGULATION S NOTES: 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE
HEREOF AND THE DATE ON WHICH THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) WAS
FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF
REGULATION S) IN RELIANCE ON REGULATION S], ONLY (A) TO THE ISSUER OR ANY SUBSIDIARY
THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE
UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE
PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT
REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A
THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL
BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE
144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE
UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN
INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3)
OR (7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT
IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL
ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF SECURITIES OF
$250,000 OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT
PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION OR OTHER INFORMATION
SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE
HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. [IN THE CASE OF REGULATION S
NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S.
PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S.

A-1

 

PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH
REGULATION S UNDER THE SECURITIES ACT.]

[INSERT IN GLOBAL NOTE: UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN
PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE
REFERRED TO ON THE REVERSE HEREOF.

BY ITS ACQUISITION OF THIS SECURITY, THE HOLDER THEREOF WILL BE DEEMED TO HAVE
REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH
HOLDER TO ACQUIRE OR HOLD THIS SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE
BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT
OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE
CODE OF 1986, AS AMENDED (THE “CODE”) OR PROVISIONS UNDER ANY OTHER FEDERAL, STATE,
LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF
ERISA OR THE CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE
CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2)
THE ACQUISITION AND HOLDING OF THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT
PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A
SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS.]

[INSERT IN DEFINITIVE NOTES: IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL
DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION
AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES
WITH THE FOREGOING RESTRICTIONS.]

[IF APPLICABLE FOR ANY ADDITIONAL NOTE: THIS NOTE IS ISSUED WITH ORIGINAL ISSUE
DISCOUNT FOR PURPOSES OF SECTION 1271 ET SEQ. OF

A-2 

 

THE INTERNAL REVENUE CODE. A HOLDER MAY OBTAIN THE ISSUE PRICE, AMOUNT OF ORIGINAL
ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY FOR SUCH NOTE BY SUBMITTING A
WRITTEN REQUEST FOR SUCH INFORMATION TO: AMY L. BERTAUSKI, LOGAN’S ROADHOUSE, INC.,
3011 ARMORY DRIVE, SUITE 300, NASHVILLE, TENNESSEE 37204.]

[INSERT FOR REGULATION S TEMPORARY NOTES: THIS SECURITY IS A TEMPORARY GLOBAL SECURITY.
PRIOR TO THE EXPIRATION OF THE DISTRIBUTION COMPLIANCE PERIOD APPLICABLE HERETO, BENEFICIAL
INTERESTS HEREIN MAY NOT BE HELD BY ANY PERSON OTHER THAN (1) A NON-U.S. PERSON OR (2) A
U.S. PERSON THAT PURCHASED SUCH INTEREST IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE
U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). BENEFICIAL INTERESTS HEREIN
ARE NOT EXCHANGEABLE FOR CERTIFICATED NOTES OTHER THAN A PERMANENT GLOBAL NOTE IN ACCORDANCE
WITH THE TERMS OF THE INDENTURE. TERMS IN THIS LEGEND ARE USED AS USED IN REGULATION S
UNDER THE SECURITIES ACT.]

A-3 

 

CUSIP [          ] 

ISIN [          ]1

[RULE 144A][REGULATION S][IAI][GLOBAL] NOTE

10.75% Senior Secured Notes due 2017

No. [RA-][RS-][RIAI-][R-]

[$______________] [,as revised by the Schedule of Exchanges of Interests in the Global Note
attached hereto]2

ROADHOUSE FINANCING INC.

(TO BE MERGED WITH AND INTO LOGAN’S ROADHOUSE, INC.)

promises
to pay to [CEDE &CO]2 [      ] or registered assigns, [$_____ (_____ Dollars)] [, as
revised by the Schedule of Exchanges of Interests in the Global Note attached hereto]2
on October 15, 2017.

Interest Payment Dates: April 15 and October 15

Record Dates: April 1 and October 1

Reference is made to further provisions of this Note set forth on the reverse side hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place.

 

			
	1	 	Rule 144A Note CUSIP: 76972KAA7

Rule 144A Note ISIN: US76972KAA79

Regulation S Note CUSIP: U7501AAA1

Regulation S Note ISIN: USU7501AAA17

IAI Note CUSIP: 76972K AB5

IAI Note ISIN: US76972KAB52

A-4 

 

			
	2	 	Insert in Global Notes
	 
	3	 	Insert in Definitive Notes

A-5 

 

          IN WITNESS HEREOF, the Issuer has caused this instrument to be duly executed.

Dated:

	 	 	 	 	 
	 	ROADHOUSE FINANCING INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

A-6 

 

	 	 	 	 	 

CERTIFICATE OF AUTHENTICATION

This is one of the Notes referred to in the within-mentioned Indenture:

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL
ASSOCIATION, 
as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

Dated:

A-7 

 

Reverse Side of Note

10.75% Senior Secured Notes due 2017

Roadhouse Financing Inc. (to be merged with and into Logan’s Roadhouse, Inc.)

          Capitalized terms used herein shall have the meanings assigned to them in the Indenture
referred to below unless otherwise indicated.

          1. INTEREST. The Issuer promises to pay interest on the principal amount of this Note at
10.75% per annum from and including October 4, 2010 until Stated Maturity. The Issuer shall pay
interest semi-annually in arrears on April 15 and October 15 of each year, or if any such day is
not a Business Day, on the next succeeding Business Day (except to the extent provided in Section
13.17 of the Indenture) (each, an “Interest Payment Date”). Interest on the Notes shall
accrue from the most recent date to which interest has been paid or duly provided for or, if no
interest has been paid or duly provided for, from and including the date of original issuance;
provided that the first Interest Payment Date shall be April 15, 2011. The Issuer shall pay
interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue
principal and premium, if any, from time to time on demand at the interest rate on the Notes; it
shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on
overdue installments of interest (without regard to any applicable grace periods) from time to time
on demand at the interest rate on the Notes. Interest shall be computed on the basis of a 360-day
year comprised of twelve 30-day months.

          2. METHOD OF PAYMENT. The Issuer shall pay interest on the Notes to the Persons who are
registered Holders of Notes at the close of business on April 1 or October 1 (whether or not a
Business Day), as the case may be, next preceding the Interest Payment Date, even if such Notes are
canceled after such record date and on or before such Interest Payment Date, except as provided in
Section 2.12 of the Indenture with respect to defaulted interest. Principal of, premium, if any,
and interest on the Notes shall be payable at the office or agency of the Issuer maintained for
such purpose or, at the option of the Issuer, payment of interest may be made by check mailed to
the Holders at their respective addresses set forth in the Note Register; provided that payment by
wire transfer of immediately available funds shall be required with respect to principal of and
interest, premium on, all Global Notes and all other Notes the Holders of which shall have provided
wire transfer instructions to the Issuer or the Paying Agent at least ten days prior to the
applicable payment date. Such payment shall be in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and private debts.

          3. PAYING AGENT AND REGISTRAR. Initially, Wells Fargo Bank, National Association, the Trustee
under the Indenture, shall act as Paying Agent and Registrar. The Issuer may change any Paying
Agent or Registrar without notice to the Holders. The Issuer or any of its Restricted Subsidiaries
may act in any such capacity.

          4. INDENTURE AND GUARANTEES. The Issuer issued the Notes under an Indenture, dated as of
October 4, 2010 (the “Indenture”), among Roadhouse Financing Inc., Roadhouse Merger Inc.,
the Trustee and the Collateral Agent. This Note is one of a duly authorized issue of Notes of the
Issuer designated as its 10.75% Senior Secured Notes due 2017. The Issuer shall be entitled to
issue Additional Notes pursuant to Sections 2.01, 4.09 and 4.12 of the Indenture. The Notes
include (i) $355,000,000 principal amount of the Initial Notes, (ii) if and when issued in
accordance with the Indenture, Additional Notes and (iii) if and when issued, the Exchange Notes
that may be issued from time to time under the Indenture in exchange for Initial Notes or
Additional Notes in an offer registered

A-8 

 

under the Securities Act as provided in a Registration Rights Agreement. The Initial Notes,
the Additional Notes and the Exchange Notes shall be considered collectively as a single class for
all purposes of the Indenture and the Collateral Documents The terms of the Notes include those
stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture
Act of 1939, as amended (the “Trust Indenture Act”). The Notes are subject to all such
terms, and Holders are referred to the Indenture and the Trust Indenture Act for a statement of
such terms. To the extent any provision of this Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling. This Note is guaranteed
by the Guarantors as set forth in the Indenture.

          5. MERGER. The Notes will initially be issued by Roadhouse Financing Inc. On the Issue Date,
Roadhouse Financing Inc. will merge with and into Logan’s Roadhouse, Inc., with Logan’s Roadhouse
Inc. continuing as the surviving corporation. On the Issue Date, Logan’s Roadhouse, Inc. will
execute and deliver the Supplemental Indenture for Merger pursuant to which Logan’s Roadhouse, Inc.
will assume all of the obligations of Roadhouse Financing Inc. under the Indenture and the Notes.

          6. REDEMPTION AND REPURCHASE. The Notes are subject to optional redemption, and may be the
subject of an Offer to Purchase, as further described in the Indenture. The Issuer shall not be
required to make mandatory redemption or sinking fund payments with respect to the Notes.

          7. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes
may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the
Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents, and Holders shall be required to pay any taxes and fees required by law or permitted by
the Indenture. The Issuer need not exchange or register the transfer of any Note or portion of a
Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part.

          8. PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for all
purposes.

          9. AMENDMENT, SUPPLEMENT AND WAIVER. The Indenture, the Guarantees, the Notes, the Collateral
Documents and the Intercreditor Agreement may be amended or supplemented as provided in the
Indenture.

          10. DEFAULTS AND REMEDIES. The Events of Default relating to the Notes are defined in Section
6.01 of the Indenture. Upon the occurrence of an Event of Default, the rights and obligations of
the Issuer, the Guarantors, the Trustee and the Holders shall be as set forth in the applicable
provisions of the Indenture.

          12. AUTHENTICATION. This Note shall not be entitled to any benefit under the Indenture or be
valid or obligatory for any purpose until authenticated by the manual signature of the Trustee.

          12. SECURITY. The Notes shall be secured by second-priority Liens and security interests,
subject to Permitted Liens, in the Collateral on the terms and conditions set forth in the
Indenture, the Collateral Documents and the Intercreditor Agreement. The Collateral Agent holds the
Collateral in trust for the benefit of the Trustee and the Holders, in each case pursuant to the
Collateral Documents and the Intercreditor Agreement.

A-9 

 

          13. GOVERNING LAW. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THE
INDENTURE, THE NOTES AND THE NOTE GUARANTEES.

          14. CUSIP AND ISIN NUMBERS. Pursuant to a recommendation promulgated by the Committee on
Uniform Security Identification Procedures, the Issuer has caused CUSIP and ISIN numbers to be
printed on the Notes, and the Trustee may use CUSIP and ISIN numbers in notices of redemption as a
convenience to Holders. No representation is made as to the accuracy of such numbers either as
printed on the Notes or as contained in any notice of redemption and reliance may be placed only on
the other identification numbers placed thereon.

          [15. REGISTRATION RIGHTS. The Holder of this Note is entitled to the benefits of the
Registration Rights Agreement dated [ ], among the Issuer, the Guarantors party thereto
and the Initial Purchasers named therein (the “Registration Rights Agreement”). In the
event of a Registration Default (as defined in the Registration Rights Agreement), the Holder shall
be entitled to Additional Interest as specified in the Registration Rights Agreement until the
Registration Default is cured.]1

          The Issuer shall furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to the Issuer at the following address:

c/o Roadhouse Financing Inc.

c/o Logan’s Roadhouse, Inc.

3011 Armory Drive, Suite 300

Nashville, Tennessee 37204

Fax No.: (229) 221-9854

Attention: Amy Bertauski

Chief Financial Officer

A-10 

 

 

			
	1	 	For Initial Notes and Additional Notes (if applicable) only.

A-11 

 

ASSIGNMENT FORM

     To assign this Note, fill in the form below:

	 	 	 

	(I) or (we) assign and transfer this Note to: 
	 	 
	 

	 	 
	 

	 	(Insert assignee’s legal name)

 

(Insert assignee’s soc. sec. or tax I.D. no.)

 

 

 

 

(Print or type assignee’s name, address and zip code)

and irrevocably appoint _____________________
to transfer this Note on the books of the Issuer. The agent may substitute another to act for him.

Date: _____________________

	 	 	 	 	 

	 

	 	Your Signature:	 	 
	 

	 	 	 	 
	 

	 	 	 	(Sign exactly as your name appears on
the face 

of this Note)

Signature Guarantee*: ________________________

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

A-12

 

CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR

REGISTRATION OF TRANSFER RESTRICTED NOTES

This certificate relates to $_________ principal amount of Notes held in (check applicable space)
____ book-entry or _____ definitive form by the undersigned.

The undersigned (check one box below):

	□	 	has requested the Trustee by written order to deliver
in exchange for its beneficial interest in the Global
Note held by the Depositary a Note or Notes in
definitive, registered form of authorized
denominations and in an aggregate principal amount
equal to its beneficial interest in such Global Note
(or the portion thereof indicated above) in accordance
with the Indenture; or
	 
	□	 	has requested the Trustee by written order to exchange
or register the transfer of a Note or Notes.

In connection with any transfer of any of the Notes evidenced by this certificate occurring prior
to the expiration of the applicable holding period referred to in Rule 144 under the Securities
Act, the undersigned confirms that such Notes are being transferred in accordance with their terms:

CHECK ONE BOX BELOW

	 	 	 	 	 

	(1)

	 	□
	 	to the Issuer or subsidiary thereof; or
	 
	 	 	 	 
	(2)

	 	□
	 	to the Registrar for registration in the name of the Holder, without transfer;
or
	 
	 	 	 	 
	(3)

	 	□
	 	pursuant to an effective registration statement under the Securities Act of
1933; or
	 
	 	 	 	 
	(4)

	 	□
	 	inside the United States of America to a “qualified institutional buyer” (as
defined in Rule 144A under the Securities Act of 1933) that purchases for its own
account or for the account of a qualified institutional buyer and to whom notice is
given that such transfer is being made in reliance on Rule 144A, in each case pursuant
to and in compliance with Rule 144A under the Securities Act of 1933; or
	 
	 	 	 	 
	(5)

	 	□
	 	outside the United States of America in an offshore transaction within the
meaning of Regulation S under the Securities Act of 1933 in compliance with Rule 904
under the Securities Act of 1933 (and if the transfer is being made prior to the
expiration of the Distribution Compliance Period, the Notes shall be held immediately
thereafter through Euroclear or Clearstream); or
	 
	 	 	 	 
	(6)

	 	□
	 	to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2),
(3) or (7) under the Securities Act of 1933) that has furnished to the Trustee a signed
letter containing certain representations and agreements; or
	 
	 	 	 	 
	(7)

	 	□
	 	pursuant to Rule 144 or another available exemption from registration under the
Securities Act of 1933.

Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes
evidenced by this certificate in the name of any Person other than the registered Holder
thereof; provided, however, that if box (4), (5), (6) or (7) is checked, the Issuer or the
Trustee may require, prior to

A-13

 

registering any such transfer of the Notes, such legal opinions, certifications and other
information as the Issuer has reasonably requested to confirm that such transfer is being
made pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933.

	 	 	 	 	 

	 

	 	 

Your Signature
	 	 

Signature Guarantee:

	 	 	 

	Date:                    
	 	 
	 

	 	 
	Signature must be guaranteed
by a participant in a
recognized signature guaranty
medallion program or other
signature guarantor acceptable
to the Trustee

	 	Signature of Signature

Guarantor

TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED

          The undersigned represents and warrants that it is purchasing this Note for its own account or
an account with respect to which it exercises sole investment discretion and that it and any such
account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities
Act of 1933, and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Issuer as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.

	 	 	 	 	 	 	 	 	 

	Dated: 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	  
	 	 	 	 	 	 	NOTICE: To be executed by an executive officer

TO BE COMPLETED IF THE HOLDER REQUESTS AN EXCHANGE PURSUANT TO SECTION

2.3(d)(iii) OF APPENDIX A TO THE INDENTURE

The undersigned represents and warrants that either:

	 	□	 	the undersigned is a non-U.S. person (within the meaning of Regulation S under
the Securities Act of 1933); or

	 	□	 	the undersigned is a U.S. person (within the meaning of Regulation S under the
Securities Act of 1933) who purchased interests in the Notes pursuant to an exemption
from, or in a transaction not subject to the registration requirements under the
Securities Act.

	 	 	 	 	 	 	 	 	 

	Dated: 
	 	 	 	 	 	 	 	 
	 

	 

	 	 
	 	 

	 	 

A-14

 

OPTION OF HOLDER TO ELECT PURCHASE

          If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.10 or
4.14 of the Indenture, check the appropriate box below:

[  ] Section 4.10               [  ] Section 4.14

          If you want to elect to have only part of this Note purchased by the Issuer pursuant to
Section 4.10 or Section 4.14 of the Indenture, state the amount you elect to have purchased:

	 	 	 	 	 

	 

	 	$                    
	 	(integral multiples of $1,000, provided that
the unpurchased portion must be in a minimum principal
amount of $2,000)

Date: _____________________

	 	 	 	 	 

	 

	 	Your Signature:	 	 
	 

	 

	 	 	 	(Sign exactly as your name appears on
the face of this Note)
	 	 	Tax Identification No.:
	 

	 	 	 	 

Signature Guarantee*: ________________________

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

A-15

 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE*

          The initial outstanding principal amount of this Global Note is $_________. The following
exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive
Note, or exchanges of a part of another Global or Definitive Note for an interest in this Global
Note, have been made:

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount	 	 
	 	 	 	 	 	 	of	 	Signature of
	 	 	Amount of	 	Amount of increase	 	this Global Note	 	 	authorized	 
	 	 	decrease	 	in Principal	 	following such	 	signatory of
	Date of	 	in Principal	 	Amount of this	 	decrease or	 	Trustee or
	Exchange	 	Amount	 	Global Note	 	increase	 	 	Custodian	 
	 
	 	 	 	 	 	 	 	 	 	 

 

			
	*	 	This schedule should be included only if the Note is issued in global form.

A-16

 

EXHIBIT B

FORM OF

TRANSFEREE LETTER OF REPRESENTATION

Roadhouse Financing Inc.

3011 Armory Drive, Suite 300

Nashville, Tennessee 37204

Fax No.: (229) 221-9854

Email: [     ]

Attention:     Amy Bertauski

                    Chief Financial Officer

Wells Fargo Bank, National Association — DAPS Reorg.

MAC N9303-121

608 2nd Avenue South

Minneapolis, MN 55479

Telephone No.: (877) 872-4605

Fax No.: (866) 969-1290

Email: DAPSReorg@wellsfargo.com

Ladies and Gentlemen:

     This certificate is delivered to request a transfer of $[ ] principal amount of the
10.75% Senior Secured Notes due 2017 (the “Notes”) of Roadhouse Financing Inc. (to be
merged with and into Logan’s Roadhouse, Inc.) (the “Issuer”).

     Upon transfer, the Notes would be registered in the name of the new beneficial owner as
follows:

Name:________________________

Address:______________________

Taxpayer ID Number:____________

     The undersigned represents and warrants to you that:

     1. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or
(7) under the Securities Act of 1933, as amended (the “Securities Act”)), purchasing for
our own account or for the account of such an institutional “accredited investor” at least $250,000
principal amount of the Notes, and we are acquiring the Notes, for investment purposes and not with
a view to, or for offer or sale in connection with, any distribution in violation of the Securities
Act. We have such knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of our investment in the Notes, and we invest in or purchase
securities similar to the Notes in the normal course of our business. We, and any accounts for
which we are acting, are each able to bear the economic risk of our or its investment.

     2. We understand that the Notes have not been registered under the Securities Act and, unless
so registered, may not be sold except as permitted in the following sentence. We agree on our own
behalf

B-1

 

and on behalf of any investor account for which we are purchasing Notes to offer, sell or
otherwise transfer such Notes prior to the date that is one year after the later of the date of
original issue and the last date on which the Issuer or any affiliate of the Issuer was the owner
of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”) only
(a) to the Issuer, (b) pursuant to a registration statement that has been declared effective under
the Securities Act, (c) in a transaction complying with the requirements of Rule 144A under the
Securities Act (“Rule 144A”), to a person we reasonably believe is a qualified
institutional buyer under Rule 144A (a “QIB”) that is purchasing for its own account or for
the account of a QIB and to whom notice is given that the transfer is being made in reliance on
Rule 144A, (d) pursuant to offers and sales that occur outside the United States of America within
the meaning of Regulation S under the Securities Act, (e) to an institutional “accredited investor”
within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act that is purchasing
for its own account or for the account of such an institutional “accredited investor,” in each case
in a minimum principal amount of Notes of $250,000, for investment purposes and not with a view to,
or for offer or sale in connection with, any distribution in violation of the Securities Act or (f)
pursuant to any other available exemption from the registration requirements of the Securities Act,
subject in each of the foregoing cases to any requirement of law that the disposition of our
property or the property of such investor account or accounts be at all times within our or their
control and in compliance with any applicable state securities laws. The foregoing restrictions on
resale will not apply subsequent to the Resale Restriction Termination Date. If any resale or
other transfer of the Notes is proposed to be made pursuant to clause (e) above prior to the Resale
Restriction Termination Date, the transferor shall deliver a letter from the transferee
substantially in the form of this letter to the Issuer and the Trustee, which shall provide, among
other things, that the transferee is an institutional “accredited investor” within the meaning of
Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it is acquiring such Notes for
investment purposes and not for distribution in violation of the Securities Act. Each purchaser
acknowledges that the Issuer and the Trustee reserve the right prior to the offer, sale or other
transfer prior to the Resale Restriction Termination Date of the Notes pursuant to clause (c), (d),
(e) or (f) above to require the delivery of an opinion of counsel, certifications or other
information satisfactory to the Issuer and the Trustee.

TRANSFEREE:_________________,

     by:___________________________

B-2

 

EXHIBIT C

FORM OF SUPPLEMENTAL INDENTURE

TO BE DELIVERED BY SUBSEQUENT GUARANTORS

          Supplemental Indenture (this “Supplemental Indenture”), dated as of [__________] [__],
20[__], among __________________ (the “Guaranteeing Subsidiary”), a subsidiary of Logan’s
Roadhouse, Inc., a Tennessee corporation (the “Issuer”), and Wells Fargo Bank, National
Association, as trustee (the “Trustee”).

W I T N E S S E T H

          WHEREAS, each of the Issuer and the Guarantors (as defined in the Indenture referred to below)
has heretofore executed and delivered to the Trustee an indenture (as supplemented on the date
hereof, the “Indenture”), dated as of October 4, 2010, providing for the issuance of an
unlimited aggregate principal amount of 10.75% Senior Secured Notes due 2017 (the “Notes”);

          WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary
shall execute and deliver to the Trustee a supplemental indenture pursuant to which the
Guaranteeing Subsidiary shall unconditionally guarantee all of the Issuer’s Obligations under the
Notes and the Indenture on the terms and conditions set forth herein and under the Indenture (the
“Guarantee”); and

          WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and
deliver this Supplemental Indenture.

          NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree
for the equal and ratable benefit of the Holders as follows:

          1. Capitalized Terms. Capitalized terms used herein without definition shall have the
meanings assigned to them in the Indenture.

          2. Guarantor. The Guaranteeing Subsidiary hereby agrees to be a Guarantor under the
Indenture and to be bound by the terms of the Indenture applicable to Guarantors, including Article
11 thereof.

          3. Governing Law. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

          4. Waiver of Jury Trial. EACH OF THE GUARANTEEING SUBSIDIARY AND THE TRUSTEE HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL
BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE, THE
INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

          5. Counterparts. The parties may sign any number of copies of this Supplemental
Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement. The exchange of copies of this Supplemental Indenture and of signature pages by
facsimile or PDF transmission shall constitute effective execution and delivery of this
Supplemental Indenture as to the parties hereto and may be used in lieu of the original
Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile
or PDF shall be deemed to be their original signatures for all purposes.

 

 

          6. Headings. The headings of the Sections of this Supplemental Indenture have been
inserted for convenience of reference only, are not to be considered a part of this Supplemental
Indenture and shall in no way modify or restrict any of the terms or provisions hereof.

B-4

 

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

	 	 	 	 	 	 	 

	 	 	[NAME OF GUARANTEEING SUBSIDIARY]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

B-5

 

EXHIBIT D

FORM OF SUPPLEMENTAL INDENTURE FOR MERGER

          This Supplemental Indenture (this “Supplemental Indenture”) is entered into as of October 4,
2010 by and among Logan’s Roadhouse, Inc., a Tennessee corporation (the “Company”), LRI Holdings,
Inc., a Delaware corporation (“Holdings”), Logan’s Roadhouse of Texas, Inc. (“Logan’s Texas”), a
Texas corporation and a wholly-owned subsidiary of the Company, Logan’s Roadhouse of Kansas, Inc.,
a Kansas corporation and a wholly-owned subsidiary of the Company (“Logan’s Kansas” and, together
with Logan’s Texas, the “Subsidiary Guarantors”; the Subsidiary Guarantors together with Holdings,
the “Guarantors”), Wells Fargo Bank, National Association, as trustee (the “Trustee”) under the
Indenture referred to below, and Wells Fargo Bank, National Association, as collateral agent (the
“Collateral Agent”), under the Indenture referred to below.

W I T N E S S E T H:

          WHEREAS, Roadhouse Financing Inc. (“Finance Co”), Roadhouse Merger Inc. (“Merger Co”), the
Trustee and the Collateral Agent entered into that certain Indenture dated as of October 4, 2010
(the “Indenture”) and Finance Co issued pursuant to the Indenture an aggregate principal amount of
$355.0 million of 10.75% Senior Secured Notes due 2017 (the “Notes”);

          WHEREAS, Merger Co, Holdings, Roadhouse Parent Inc. and LRI Acquisition, LLC have entered into
the Agreement and Plan of Merger, dated as of August 27, 2010 (the “Merger Agreement”), which
provides for the merger of Merger Co with and into Holdings (the “LRI Merger”), with Holdings
continuing its existence under Delaware law, and, in connection therewith, the merger of Finance Co
with and into the Company (the “ Finance Merger” and, together with the LRI Merger, the “Mergers”),
with the Company continuing its existence under Tennessee law;

          WHEREAS, the Mergers shall become effective upon the filings of the Certificate of Merger of
Roadhouse Merger Inc. with and into LRI Holdings, Inc. and the Certificate of Merger of Roadhouse
Financing Inc. with and into Logan’s Roadhouse, Inc. (together, the “Certificates of Merger”) with
the Secretary of State of the State of Delaware and the Articles of Merger of Roadhouse Financing
Inc. with and into Logan’s Roadhouse, Inc. with the Secretary of State of the State of Tennessee;

          WHEREAS, Section 5.01 of the Indenture provides, among other things, that Finance Co
shall be permitted to merge with or into the Company, provided that, among other things,
the Company shall expressly assume upon any such merger, all of the obligations of Finance Co under
the Notes and the Indenture;

          WHEREAS, Section 5.01 of the Indenture provides, among other things, that Merger Co
shall be permitted to merge with or into Holdings, provided that, among other things,
Holdings shall expressly assume upon any such merger, all of the obligations of the Merger Co under
the Indenture, including its Note Guarantee;

          WHEREAS, Section 4.15 of the Indenture provides that the Subsidiary Guarantors shall
execute and deliver to the Trustee a supplemental indenture pursuant to which the Subsidiary
Guarantors shall unconditionally guarantee all of the Issuer’s obligations under the Notes and the
Indenture on the terms and conditions set forth herein and under the Indenture (the “Note
Guarantee”);

B-6

 

          WHEREAS, Section 9.01 of the Indenture provides that the Trustee may, without the
consent of the Holders of Notes, execute and deliver this supplemental indenture;

          WHEREAS, each of the Company, Holdings and the Subsidiary Guarantors has been duly authorized
to enter into this Supplemental Indenture; and

          WHEREAS, all acts, conditions, proceedings and requirements necessary to make this
Supplemental Indenture a valid, binding and legal agreement enforceable in accordance with its
terms for the purposes expressed herein, in accordance with its terms, have been duly done and
performed.

          NOW, THEREFORE, in consideration of the premises and the covenants and agreements contained
herein, and for other good and valuable consideration the receipt of which is hereby acknowledged,
the Company, the Guarantors, the Trustee and the Collateral Agent hereby agree as follows:

ARTICLE I

DEFINITIONS

          Section 1.01  Capitalized terms used in this Supplemental Indenture and not otherwise
defined herein shall have the meanings assigned to such terms in the Indenture.

ARTICLE II

REPRESENTATIONS OF THE COMPANY AND THE GUARANTORS

          Section 2.01 The Company represents and warrants to the Trustee as follows:

          (i) It is a Tennessee corporation duly organized, validly existing and in good standing under
the laws of the State of Tennessee.

          (ii) The execution, delivery and performance by it of this Supplemental Indenture have been
authorized and approved by all necessary corporate action on its part.

          Section 2.02 Holdings represents and warrants to the Trustee as follows:

          (i) It is a Delaware corporation duly organized, validly existing and in good standing under
the laws of the State of Delaware.

          (ii) The execution, delivery and performance by it of this Supplemental Indenture have been
authorized and approved by all necessary corporate action on its part.

          Section 2.03 Each of the Subsidiary Guarantors represents and warrants to the Trustee as
follows:

          (i) It is duly organized, validly existing and in good standing under its jurisdiction of
organization.

          (ii) The execution, delivery and performance by it of this Supplemental Indenture have been
authorized and approved by all necessary corporate action.

B-7

 

          Section 2.04 Each of the Company and Holdings represents and warrants to the Trustee that upon
the filing and acceptance for record of the Certificates of Merger by the Secretary of State of the
State of Delaware and the Articles of Merger by the Secretary of State of the State of Tennessee,
as applicable (in each case, the “Merger Effective Time”), each Merger will be effective in
accordance with the terms of the Merger Agreement, Delaware law and Tennessee law, as applicable.

ARTICLE III

ASSUMPTION AND AGREEMENTS OF SUCCESSOR

          Section 3.01 In accordance with Sections 5.01 and 9.01 of the Indenture, the
Company hereby expressly assumes all of the obligations of Finance Co under the Notes and the
Indenture and shall assume all of Finance Co’s obligations under the Collateral Documents, the
Intercreditor Agreement and the Registration Rights Agreement. The Company hereby confirms that it
shall, concurrently with its execution of this Supplemental Indenture, enter into a joinder to the
Registration Rights Agreement whereby it shall assume the obligations of Finance Co under the
Registration Rights Agreement, enter into a joinder to the Intercreditor Agreement whereby it shall
assume the obligations of Finance Co under the Intercreditor Agreement, enter into a joinder to the
Security Agreement whereby it shall assume the obligations of Finance Co under the Security
Agreement, and enter into a Trademark Security Agreement pursuant to its obligations under the
Security Agreement.

          Section 3.02 The Company shall succeed to, and be substituted for (and the provisions of the
Indenture referring to “Finance Co” and the “Issuer” shall refer to the Company and not to Finance
Co), and may exercise every right and power of, Finance Co under the Indenture and the Notes with
the same force and effect as if the Company had originally been named as “Issuer” in the Indenture
and the Notes.

          Section 3.03 In accordance with Sections 5.01 and 9.01 of the Indenture,
Holdings hereby expressly assumes all of the obligations of Merger Co under the Indenture and its
Note Guarantee and shall assume all of Merger Co’s obligations under the Collateral Documents, the
Intercreditor Agreement and the Registration Rights Agreement. Holdings hereby confirms that its
shall, concurrently with its execution of this Supplemental Indenture, enter into a joinder to the
Registration Rights Agreement whereby it shall assume the obligations of Merger Co under the
Registration Rights Agreement, enter into a joinder to the Intercreditor Agreement whereby it shall
assume the obligations of Merger Co under the Intercreditor Agreement and enter into a joinder to
the Security Agreement whereby it shall assume the obligations of Merger Co under the Security
Agreement.

          Section 3.04 Holdings shall succeed to, and be substituted for (and the provisions of the
Indenture referring to “Merger Co” and “Holdings” shall refer to Holdings and not to Merger Co),
and may exercise every right and power of, Merger Co under the Indenture with the same effect as if
Holdings had originally been named as “Merger Co” or “Holdings” or “Guarantor” in the Indenture.
Holdings hereby agrees to be a Guarantor under the Indenture and to be bound by the terms of the
Indenture applicable to Guarantors, including Article 11 thereof.

ARTICLE IV

ADDITIONAL GUARANTORS

          Section 4.01 The Subsidiary Guarantors hereby agree to be Guarantors under the Indenture and
to be bound by the terms of the Indenture applicable to Guarantors, including Article 11 thereof.

B-8

 

ARTICLE
V MISCELLANEOUS

          Section 5.01 This Supplemental Indenture shall become effective as of the Merger Effective
Time in respect of each Merger.

          Section 5.02 This Supplemental Indenture shall be governed by, and construed in accordance
with, the laws of the State of New York.

          Section 5.03 Each of the Company, the Guarantors, the Trustee and the Collateral Agent hereby
irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial
by jury in any legal proceeding arising out of or relating to this Supplemental Indenture, the
Indenture, the Notes or the transactions contemplated hereby or thereby.

          Section 5.04 In case any provision in this Supplemental Indenture shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby and such provision shall be ineffective only to the extent
of such invalidity, illegality or unenforceability.

          Section 5.05 Except as expressly amended hereby, the Indenture, the Notes and the Note
Guarantees are in all respects ratified and confirmed and all the terms, conditions and provisions
thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of
the Indenture for all purposes, and the Trustee and every Holder of Notes heretofore or hereafter
authenticated and delivered shall be bound hereby. The Trustee makes no representation or warranty
as to the validity or sufficiency of this Supplemental Indenture or with respect to the recitals
contained herein, all of which recitals are made solely by the other parties hereto.

          Section 5.06 The parties hereto may sign one or more copies of this Supplemental Indenture in
counterparts, all of which together shall constitute one and the same agreement.

          Section 5.07 The headings of the Articles and the sections in this Supplemental Indenture are
for convenience of reference only and shall not be deemed to alter or affect the meaning or
interpretation of any provisions hereof.

B-9

 

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

	 	 	 	 	 
	 	LOGAN’S ROADHOUSE, INC.

 	 
	 	By  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 
	 	LRI HOLDINGS, INC.

 	 
	 	By  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 
	 	LOGAN’S ROADHOUSE OF TEXAS, INC.

 	 
	 	By  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 
	 	LOGAN’S ROADHOUSE OF KANSAS, INC.

 	 
	 	By  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL 
ASSOCIATION, as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WELLS FARGO BANK, NATIONAL 
ASSOCIATION, as Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

EXECUTION VERSION

SUPPLEMENTAL INDENTURE FOR MERGER

     This Supplemental Indenture (this “Supplemental Indenture”) is entered into as of October 4,
2010 by and among Logan’s Roadhouse, Inc., a Tennessee corporation (the “Company”), LRI Holdings,
Inc., a Delaware corporation (“Holdings”), Logan’s Roadhouse of Texas, Inc. (“Logan’s Texas”), a
Texas corporation and a wholly-owned subsidiary of the Company, Logan’s Roadhouse of Kansas, Inc.,
a Kansas corporation and a wholly-owned subsidiary of the Company (“Logan’s Kansas” and, together
with Logan’s Texas, the “Subsidiary Guarantors”; the Subsidiary Guarantors together with Holdings,
the “Guarantors”), Wells Fargo Bank, National Association, as trustee (the “Trustee”) under the
Indenture referred to below, and Wells Fargo Bank, National Association, as collateral agent (the
“Collateral Agent”), under the Indenture referred to below.

W I T N E S S E T H:

     WHEREAS, Roadhouse Financing Inc. (“Finance Co”), Roadhouse Merger Inc. (“Merger Co”), the
Trustee and the Collateral Agent entered into that certain Indenture dated as of October 4, 2010
(the “Indenture”) and Finance Co issued pursuant to the Indenture an aggregate principal amount
of $355.0 million of 10.75% Senior Secured Notes due 2017 (the “Notes”);

     WHEREAS, Merger Co, Holdings, Roadhouse Parent Inc. and LRI Acquisition, LLC have entered
into the Agreement and Plan of Merger, dated as of August 27, 2010 (the “Merger Agreement”),
which provides for the merger of Merger Co with and into Holdings (the “LRI Merger”), with
Holdings continuing its existence under Delaware law, and, in connection therewith, the merger
of Finance Co with and into the Company (the “ Finance Merger” and, together with the LRI
Merger, the “Mergers”), with the Company continuing its existence under Tennessee law;

     WHEREAS, the Mergers shall become effective upon the filings of the Certificate of Merger of
Roadhouse Merger Inc. with and into LRI Holdings, Inc. and the Certificate of Merger of Roadhouse
Financing Inc. with and into Logan’s Roadhouse, Inc. (together, the “Certificates of Merger”)
with the Secretary of State of the State of Delaware and the Articles of Merger of Roadhouse
Financing Inc. with and into Logan’s Roadhouse, Inc. with the Secretary of State of the State of
Tennessee;

     WHEREAS, Section 5.01 of the Indenture provides, among other things, that Finance
Co shall be permitted to merge with or into the Company, provided that, among other
things, the Company shall expressly assume upon any such merger, all of the obligations of
Finance Co under the Notes and the Indenture;

     WHEREAS, Section 5.01 of the Indenture provides, among other things, that Merger Co
shall be permitted to merge with or into Holdings, provided that, among other things,
Holdings shall expressly assume upon any such merger, all of the obligations of the Merger Co
under the Indenture, including its Note Guarantee;

     WHEREAS, Section 4.15 of the Indenture provides that the Subsidiary Guarantors shall
execute and deliver to the Trustee a supplemental indenture pursuant to which the Subsidiary
Guarantors shall unconditionally guarantee all of the Issuer’s obligations under the Notes and
the Indenture on the terms and conditions set forth herein and under the Indenture (the “Note
Guarantee”);

     WHEREAS, Section 9.01 of the Indenture provides that the Trustee may, without
the consent of the Holders of Notes, execute and deliver this supplemental indenture;

 

 

     WHEREAS, each of the Company, Holdings and the Subsidiary Guarantors has been duly
authorized to enter into this Supplemental Indenture; and

     WHEREAS, all acts, conditions, proceedings and requirements necessary to make this
Supplemental Indenture a valid, binding and legal agreement enforceable in accordance with its
terms for the purposes expressed herein, in accordance with its terms, have been duly done and
performed.

     NOW, THEREFORE, in consideration of the premises and the covenants and agreements contained
herein, and for other good and valuable consideration the receipt of which is hereby acknowledged,
the Company, the Guarantors, the Trustee and the Collateral Agent hereby agree as follows:

DEFINITIONS

	1.1	 	Capitalized terms used in this Supplemental Indenture and not otherwise
defined herein shall have the meanings assigned to such terms in the Indenture.

ARTICLE II

REPRESENTATIONS OF THE COMPANY AND THE GUARANTORS

     
2.1 The Company represents
and warrants to the Trustee as follows:

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

     (b) The execution, delivery and performance by it of this Supplemental Indenture have
been authorized and approved by all necessary corporate action on its part.

	 	2.2	 	Holdings represents and warrants to the Trustee as follows:

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

     (b) The execution, delivery and performance by it of this Supplemental Indenture have
been authorized and approved by all necessary corporate action on its part.

     2.3 Each of the Subsidiary Guarantors represents and warrants to the Trustee as follows:

     (a) It is duly organized, validly existing and in good standing under its
jurisdiction of organization.

     (b) The execution, delivery and performance by it of this Supplemental Indenture have
been authorized and approved by all necessary corporate action.

 

 

     2.4 Each of the Company and Holdings represents and warrants to the Trustee
that upon the filing and acceptance for record of the Certificates of Merger by the Secretary of
State of the State of Delaware and the Articles of Merger by the Secretary of State of the State of
Tennessee, as applicable (in each case, the “Merger Effective Time”), each Merger will be effective
in accordance with the terms of the Merger Agreement, Delaware law and Tennessee law, as
applicable.

ARTICLE III

ASSUMPTION AND AGREEMENTS OF SUCCESSOR

     3.1 In accordance with Sections 5.01 and 9.01 of the
Indenture, the Company
hereby expressly assumes all of the obligations of Finance Co under the Notes and the Indenture
and shall assume all of Finance Co’s obligations under the Collateral Documents, the Intercreditor
Agreement and the Registration Rights Agreement. The Company hereby confirms that it shall,
concurrently with its execution of this Supplemental Indenture, enter into a joinder to the
Registration Rights Agreement whereby it shall assume the obligations of Finance Co under the
Registration Rights Agreement, enter into a joinder to the Intercreditor Agreement whereby it
shall assume the obligations of Finance Co under the Intercreditor Agreement, enter into a joinder
to the Security Agreement whereby it shall assume the obligations of Finance Co under the Security
Agreement, and enter into a Trademark Security Agreement pursuant to its obligations under the
Security Agreement.

     3.2 The Company shall succeed to, and be substituted for (and the provisions
of the Indenture referring to “Finance Co” and the “Issuer” shall refer to the Company and not to
Finance Co), and may exercise every right and power of, Finance Co under the Indenture and the
Notes with the same force and effect as if the Company had originally been named as “Issuer” in the
Indenture and the Notes.

     3.3 In accordance with Sections 5.01 and 9.01 of the
Indenture, Holdings
hereby expressly assumes all of the obligations of Merger Co under the Indenture and its Note
Guarantee and shall assume all of Merger Co’s obligations under the Collateral Documents, the
Intercreditor Agreement and the Registration Rights Agreement. Holdings hereby confirms that its
shall, concurrently with its execution of this Supplemental Indenture, enter into a joinder to the
Registration Rights Agreement whereby it shall assume the obligations of Merger Co under the
Registration Rights Agreement, enter into a joinder to the Intercreditor Agreement whereby it shall
assume the obligations of Merger Co under the Intercreditor Agreement and enter into a joinder to
the Security Agreement whereby it shall assume the obligations of Merger Co under the Security
Agreement.

     3.4 Holdings shall succeed to, and be substituted for (and the provisions of
the
Indenture referring to “Merger Co” and “Holdings” shall refer to Holdings and not to Merger Co),
and may exercise every right and power of, Merger Co under the Indenture with the same effect as if
Holdings had originally been named as “Merger Co” or “Holdings” or “Guarantor” in the Indenture.
Holdings hereby agrees to be a Guarantor under the Indenture and to be bound by the terms of the
Indenture applicable to Guarantors, including Article 11 thereof.

 

 

ARTICLE IV

ADDITIONAL GUARANTORS

     4.1 The Subsidiary Guarantors hereby agree to be Guarantors under the
Indenture and to be bound by the terms of the Indenture applicable to Guarantors, including
Article 11 thereof.

ARTICLE V MISCELLANEOUS

     5.1 This Supplemental Indenture shall become effective as of the Merger
Effective Time in respect of each Merger.

     5.2 This Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York.

     5.3 Each of the Company, the Guarantors, the Trustee and the Collateral Agent hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all
right to trial by jury in any legal proceeding arising out of or relating to this Supplemental
Indenture, the Indenture, the Notes or the transactions contemplated hereby or thereby.

     5.4 In case any provision in this Supplemental Indenture shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby and such provision shall be ineffective only
to the extent of such invalidity, illegality or unenforceability.

     5.5 Except as expressly amended hereby, the Indenture, the Notes and the
Note Guarantees are in all respects ratified and confirmed and all the terms, conditions and
provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a
part of the Indenture for all purposes, and the Trustee and every Holder of Notes heretofore or
hereafter authenticated and delivered shall be bound hereby. The Trustee makes no representation or
warranty as to the validity or sufficiency of this Supplemental Indenture or with respect to the
recitals contained herein, all of which recitals are made solely by the other parties hereto.

     5.6 The parties hereto may sign one or more copies of this Supplemental
Indenture in counterparts, all of which together shall constitute one and the same agreement.

     5.7 The headings of the Articles and the sections in this Supplemental
Indenture are for convenience of reference only and shall not be deemed to alter or affect the
meaning or interpretation of any provisions hereof.

 

 

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

	 	 	 	 	 
	 	LOGAN’S ROADHOUSE, INC.

 	 
	 	By  	/s/ George T. Vogel	 
	 	 	Name: 	George T. Vogel	 
	 	 	Title: 	President & CEO	 
	 
	 	LRI HOLDINGS, INC.

 	 
	 	By  	/s/
Amy Bertauski	 
	 	 	Name:  	Amy Bertauski	 
	 	 	Title:  	CFO	 
	 
	 	LOGAN’S ROADHOUSE OF TEXAS, INC.

 	 
	 	By  	/s/
Amy Bertauski	 
	 	 	Name:  	Amy Bertauski	 
	 	 	Title:  	Asst. Treasurer	 
	 
	 	LOGAN’S ROADHOUSE OF KANSAS, INC.

 	 
	 	By  	/s/
Robert Effner	 
	 	 	Name:  	Robert Effner	 
	 	 	Title:  	Secretary	 

SUPPLEMENTAL
INDENTURE

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee

 	 
	 	By:  	/s/
Stefan Victory	 
	 	 	Name:  	Stefan Victory	 
	 	 	Title:  	Vice President	 
	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Agent

 	 
	 	By:  	/s/
Stefan Victory	 
	 	 	Name:  	Stefan Victory	 
	 	 	Title:  	Vice President	 
	 

[SIGNATURE PAGE]

[SUPPLEMENTAL INDENTURE FOR MERGER]

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